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2 years ago

SARASOTA CORP. Balance Sheet (partial) Stockholders’ equity Paid-in capital

Business

1 answer:

Nuetrik [128]2 years ago

5 0

Answer:

a. The Shares of common stock outstanding are 556,200

b. The stated value of the common stock is 3

c. The par value of the preferred stock is 102

Explanation:

a. In order to calculate the Shares of common stock outstanding we would have to make the following calculation:

Shares of common stock outstanding=shares authorized-common shares

=564,000-7,800

=556,200

b. In order to calculate the Stated value of the common stock we would have to make the following calculation:

Stated value of the common stock= shares issued/shares authorized =1692000/564000

c. In order to calculate the Par value of the preferred stock we would have to make the following calculation:

Par value of the preferred stock= shares issued and outstanding/6,500

=663000/6500

=102

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Which one of the following is not true when the economy is in macroeconomic equilibrium? A. When the economy is at long-run eq

uranmaximum [27]

Answer:

The correct answer to the following question will be Option C.

Explanation:

Throughout the macroeconomic equilibrium, the aggregate supply curve becomes equivalent to something like the supply curve, the real GDP seems to be comparable to potential Output (GDP), however, if frictional as well as systemic unemployment seems to be the maximum total poverty throughout the longer term.
Consequently, whenever the economy seems to be in macroeconomic equilibrium, the argument which is not accurate would be that the businesses would have excess power.

So that Option C is the right answer.

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2 years ago

Omar is setting up his company in quickbooks and selects the accrual basis of accounting. how will his business record income an

algol [13]

Omar is setting up his company in QuickBooks and selects the accrual basis of accounting. income is recorded when sales are made; expenses are recorded when incurred while his business record income and expenses.

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1 year ago

You have just been elected to public office and you have been informed that the government does not have money to pay all of its

slava [35]

<h3>answer:</h3>

not a.

not b.

not c.

it's d.

<h3>explanation:</h3>

Lower tax rates enable firms to invest more – this leads to higher growth and therefore, higher tax revenues

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9 months ago

A company pays each of its two office employees each Friday at the rate of $210 per day for a five-day week that begins on Monda

marusya05 [52]

Answer:

Correct answer is:

Debit Salaries Expense $840

Credit Salaries Payable $840

Explanation:

2 employees each paid at $ 210 per day so daily salary expense is $210*2 = $420.

The accounting period ends on Tuesday and both employees work for Monday and Tuesday so the 2 days salaries expense is $420*2= $840.

As the salaries are paid on every Friday so there is a liability on a company for the 2 days salary payable to be recorded on accounting period close date i.e Tuesday.

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2 years ago

Read 2 more answers

Flanders Company purchased an asset on January 1, 2021 for $60,000. The asset has an estimated salvage value of $3,000. Its esti

emmasim [6.3K]

Answer:

$14,250

Explanation:

Annual depreciation = (Cost - Salvage value) / Useful Life

Annual depreciation = ($60,000 - $3,000) / 8

Annual depreciation = $57,000 / 8

Annual depreciation = $7,125

Accumulated dep. at December 31, 2022 = $7,125 * 2

Accumulated dep. at December 31, 2022 = $14,250

So, the balance in accumulated depreciation using the straight-line method at December 31, 2022 is $14,250.

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2 years ago