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grin007 [14]
3 years ago
8

Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning, and reconst

ructing an antique quilt which she expects to sell for $1,500 once she is finished. After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task. Alternatively, she can sell the quilt "as is" now for $900. What is her marginal benefit if she sells the quilt "as is" now?
A. $100
B. S900
C. She makes a marginal loss of $600, not a marginal benefit.
D. The marginal benefit cannot be determined
Business
1 answer:
Nataliya [291]3 years ago
3 0

Answer:

The correct option is B.

Explanation:

The marginal benefit is the maximum amount which a person or individual is willing to pay in order to have an additional service or benefit. It is the additional satisfaction, which the person receives when an additional service or good is purchased.

So, in this case, Cassie need or require some special fabric which cost her $200 that is the additional amount she need to pay in order to complete the task. But alternatively, she could sell the quilt for $900. Therefore, she had a marginal benefit of $900, if sells the quilt as is now.

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What's the difference between a checking account and a savings account?
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D. A checking account comes with a credit card.

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Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required: (1) Prepare the updated stock
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Complete Question:

On June 30, Sharper Corporation's stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend. Common stock-$10 par value, 120,000 shares authorized, 72,000 shares issued and outstanding $ 720,000

Paid-in capital in excess of par value, common stock 310,000

Retained earnings 715,000

Total stockholders' equity  $1,745,000

Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split. Required: (1) Prepare the updated stockholders' equity section after the split. (2) Compute the number of shares outstanding after the split. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the updated stockholders' equity section after the split.

Answer:

Sharper Corporation

1. SHARPER CORPORATION

Stockholders' Equity Section of the Balance Sheet June 30

Total stockholders' equity

Common stock-$3.33 par value, 360,000 shares authorized,

216,000 shares issued and outstanding                  $ 720,000

Paid-in capital in excess of par value, common stock 310,000

Retained earnings                                                         715,000

Total stockholders' equity                                       $1,745,000

2. The number of shares outstanding after the split is:

= 216,000 shares.

Explanation:

a) Data and Calculations:

Common stock-$10 par value, 120,000 shares authorized,

72,000 shares issued and outstanding                   $ 720,000

Paid-in capital in excess of par value, common stock 310,000

Retained earnings                                                         715,000

Total stockholders' equity                                       $1,745,000

Authorized shares = 360,000 (120,000 * 3)

Outstanding shares = 216,000 (72,000 * 3)

Common stock par value = $3.333 ($10/3)

b) A 3-for-1 stock split means that shareholders will now have 3 shares for each share that they previously held.  Therefore, the outstanding and authorized shares will be multiplied by 3 while the stock price is divided by 3 to arrive at their values after the split.

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