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gavmur [86]
3 years ago
11

Worthy Ships initially issued 400,000 shares of $1 par stock for $2,000,000 in 2021. In 2023, the company repurchased 40,000 sha

res for $400,000. In 2024. 20,000 of the repurchased shares were resold for $320,000. In its balance sheet dated December 31, 2024, C. Worthy's treasury stock account shows a balance of Multiple Choice $200,000 $80,000 $400,000
Business
1 answer:
liq [111]3 years ago
8 0

Answer:

Worthy Ships:

Treasury Stock account balance would be $80,000.

Explanation:

Treasury Stock account is a contra account to the Common Stock account.  Using the cost method, the account will have a debit entry and balance of $400,000 in 2023.  In 2024, with the resale of shares, the account will have a credit entry of $320,000.  This would bring the balance to $80,000 at the end of 2024.

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How might a person in an information technology company have a lot of power even if he or she does not hold an executive title
Gnesinka [82]

Answer:

Even if individual doesn't even have an executive role, a person responsible of information technology for a corporation might wield tremendous authority. This is due to the fact that power is not necessarily linked to a position of authority.

Explanation:

A person with leadership qualities can advance to positions of power, allowing them to put their abilities and personality attributes to good use. A person in charge of information technology is also responsible for optimising the company's digital technologies owing to the nature of the role and responsibilities.

8 0
3 years ago
A glass company making windows for houses also makes windows for other things (cars, boats, planes, etc.). We would expect its s
Kryger [21]

Answer:

C) Relatively more elastic than those of firms which only make house windows

Explanation:

The supply curve for this company will be more elastic than the supply curves of its competition because it can decide to produce either house windows or other types of windows depending on which product generates the largest profit. For example, if the price of car windows increases, then the company's supply of car windows will increase.

6 0
3 years ago
Barbara owns 40% of the stock of Cassowary Corporation (a C corporation) and 40% of the stock of Emu Corporation (an S corporati
vodomira [7]

Answer:

$ 48,000

$3,200

Explanation:

Since C corporations are separate taxable entities, Cassowary Corporation will report the operating income and tax-exempt income. An S corporation is a tax reporting entity. Therefore, Barbara will report ordinary business income of $ 48,000 and tax-exempt $ 3,200.

Reason -

Business income = 120,000×40%

                           = 120,000.\frac{40}{100}

                           = $48,000

⇒Business income = $48,000

Tax-exempt = 8,000×40%

                   = 8,000.\frac{40}{100}

                   = $3,200

⇒Tax-exempt = $3,200

7 0
3 years ago
Explain why the sale of used goods is not included in GDP.
Natali [406]

Used goods are not included in the current year GDP, as they were already included in the year that they were produced. GDP stands for Gross Domestic Product, and includes the values of goods and services created that year in that specific country alone.

8 0
3 years ago
the xyz company is a profit-maximizing firm with a monopoly in the production of pennants. the firm sells its pennants for $10 e
marshall27 [118]

Marginal cost equals marginal revenue. The additional money that results from raising the quantity is known as the marginal revenue.

Therefore, profit is maximised when marginal cost equals marginal revenue, which is the same as saying when marginal profit equals zero. This additional revenue is also referred to as being "at the margin. In general, marginal revenue tends to decline as production rises for any given level of customer demand. There is no economic gain in equilibrium since marginal revenue and costs

Marginal cost

The additional expense brought on by increasing the quantity is known as the marginal cost. The additional expense at the margin.

Marginal revenue

The additional money that results from raising the quantity is known as the marginal revenue. The additional revenue at the margin.

The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants. The firm sells its pennants for $10 each. We can conclude that the XYZ Company is producing a level of output at which:

Select one:  a. average total cost equals $10.    b. average total cost is greater than $10.    c. marginal revenue equals $10.    d. marginal cost equals marginal revenue.

Learn more about marginal cost and marginal revenue here:

brainly.com/question/10929905

#SPJ4

7 0
1 year ago
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