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jolli1 [7]
3 years ago
11

Presented below is the stockholders' equity section of Mead Corporation at December 31, 2006: Common stock, par value $20; autho

rized 75,000 shares; issued and outstanding 45,000 shares $ 900,000 Paid-in capital in excess of par value 250,000 Retained earnings 500,000 $1,650,000 During 2007, the following transactions occurred relating to stockholders' equity: 3,000 shares were reacquired at $28 per share. 3,000 shares were reacquired at $35 per share. 1,800 shares of treasury stock were sold at $30 per share. For the year ended December 31, 2007, Mead reported net income of $450,000. Assuming Mead accounts for treasury stock under the cost method, what should it report as total stockholders' equity on its December 31, 2007, balance sheet? a. $1,965,000. b. $1,961,400. c. $1,957,800. d. $1,515,000.
Business
1 answer:
marishachu [46]3 years ago
8 0

Answer:

a. $1,965,000

Explanation:

The computation of total stockholders' equity is shown below:-

Paid-in capital from Treasury Stock =  1,800 × ($30 - $28)

= 1,800 × $2

= $3,600

Retained earning = $500,000 + $450,000

= $950,000

Treasury stock = ((3,000 - 1,800) × $28)  + (3000 × 35)

= (1,200 × $28) + (3000 × 35)

= $33,600 + $105,000

= $138,600

Total stockholders' equity on December 31, 2007 = Common stock + Paid-in capital in excess of par value + Paid-in capital from Treasury Stock + Retained earnings - Treasury stock

= $900,000 + 250,000 + $3,600 + $950,000 - $138,600

= $2,103,600 - $138,600

= $1,965,000

So, we have applied the above formula.

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In the context of factors that influence the motivation to learn, when an organization seeks to convince employees that they can
BabaBlast [244]

Answer:

D. The Self-efficacy of employees.

Explanation:

Self-efficacy refers to what you believe about yourself, rather than how you truly are. An employee with low self-efficacy runs the risk of performing tasks below her actual ability level because she believes she can only perform to that level, and she may not recognize her aptitude to do the work.

Organizational leaders and performance managers use the term self-efficacy to describe an individuals' belief in their own ability to successfully complete a task. ... All employees should be assigned tasks that are the best possible fit for their knowledge, skills, and abilities.

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3 years ago
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The predetermined overhead rate for manufacturing overhead for 2020 is $4.00 per direct labor hour. Employees are expected to ea
timofeeve [1]

Answer:

$60,000

Explanation:

The computation of the estimated manufacturing overhead is shown below:

Estimated manufacturing overhead = Direct labor hours × predetermined overhead rate

where,

Direct labor hours = Total Direct labor cost ÷ Cost per hour

                              = ($100,000 × 75%) ÷ ($5)

                              = 15,000 direct labor hours

Now the estimated manufacturing overhead equal to

= 15,000 direct labor hours × $4

= $60,000

3 0
3 years ago
Precilla Company uses a standard costing system that allows 2 pounds of direct materials for one finished unit of product. Durin
fenix001 [56]

Answer:

actual quantity= 25,000 pounds

Explanation:

Giving the following information:

Standard quantity= 2 pounds per units

Production= 12,000 units

Direct material quantity variance= $5,000 unfavorable

Standard price= 120,000/(2*12,000)= $5

<u>To calculate the actual quantity used in production, we need to use the following formula:</u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

-5,000 = (24,000 - actual quantity)*5

-5,000 = 120,000 - 5actual quantity

125,000/5 = actual quantity

25,000 = actual quantity

6 0
3 years ago
One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $500 per
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Answer: Number of months = 66.87 months

Explanation:

Given that,

Monthly Payment = $500

Interest rate(r) = 1.95% per month

Current Balance = $18,500

Number of months(t) = ?

Current\ balance = Monthly\ payment\times(\frac{1-present\ value\ factor}{r})

Current\ balance = Monthly\ payment\times(\frac{1-\frac{1}{(1+r)^{t}} }{r})

18,500 = 500\times(\frac{1-\frac{1}{(1+0.0195)^{t}} }{0.0195})

\frac{18,500}{500}\times0.0195=1-\frac{1}{1.0195^{t} }

\frac{1}{1.0195^{t}}=1-0.7215

1.0195^{t}=\frac{1}{0.2785}

1.0195^{t}=3.5906

Taking log on both side

t log(1.0195) = log(3.5906)

t = \frac{0.5551}{0.0083}

t = 66.87 months

6 0
3 years ago
Main memory divided into a number of static partitions at system generation time is _______ .
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The main memory divided into a number of static partitions at system generation time is fixed partitioning.

<h3>What is the main memory?</h3>

Memory is a computing term for a system or device that stores data for immediate use in a computer, computer hardware, or other digital electronic devices. The terms main memory and primary storage are frequently used interchangeably. The store is a dated word for memory.

The principal internal storage area in a computer, sometimes known as RAM, is the main memory (random access memory). Specs like 4GB, 8GB, 12GB, and 16GB usually invariably relate to the RAM's storage capacity. On the other hand, a computer's disk or solid-state storage capabilities are commonly 128GB or 256GB or greater.

Fixed partitioning refers to the division of the system's main memory into a number of static partitions.

To learn more about main memory refer to:

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4 0
2 years ago
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