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bekas [8.4K]
3 years ago
15

Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,900,000 shares issued; Additional Paid-i

n Capital, $16.10 million; Retained Earnings, $9.10 million; and Treasury Stock, 41,000 shares, $0.902 million. Prepare the stockholders� equity section of the balance sheet.
Business
1 answer:
Gnesinka [82]3 years ago
4 0

Answer:

The preparation is presented below:

Explanation:

The preparation of the stockholder equity section of the balance sheet is presented below:

Common stock $1,900,000

Add: Additional paid in capital $16,100,000

Total paid in capital $18,000,000

Add: Retained earnings $9,100,000

Less: Treasury stock - $902,000

Total stockholders equity $26,198,000

We simply added the additional capital and retained earning and deduct the treasury stock so that the correct value could arrive

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Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 1/1 - Beginn
bixtya [17]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1/1 - Beginning Inventory (Quantity 1,000 - Price/Cost = $12)

2/4 - Purchase (Quantity 2,000 - Price/Cost = $18)

2/20 - Sale (Quantity 2,500 - Price/Cost = $30)

4/2 - Purchase (Quantity 3,000 - Price/Cost = $23)

11/4 - Sale (Quantity 2,200 - Price/Cost = $33)

Units sold= 4,700

1) Periodic - FIFO

COGS= 1,000*12 + 2,000*18 + 1,700*23= 87,100

2) Perpetual - FIFO

COGS= 1000*12 + 1500*18 + 500*18 + 1,700*23= $87,100

3) Periodic - LIFO

COGS= 3,000*23 + 1,700*18= $99,600

4) Perpetual - LIFO

COGS= 2,000*18 + 500*12 + 2,200*23= $92,600

5) Periodic - weighted

Average price= (12 + 18 + 23)/3= 17.67

COGS= 4,700*17.67= $83,049

6) Perpetual - weighted

COGS= 15* 2,500 + 17.67*2,200= $76,374

3 0
3 years ago
PackMan Corporation has semiannual bonds outstanding with nine years to maturity and the bonds are currently priced at $754.08.
Alja [10]

Answer:

b. 8.225%

Explanation:

The rate formula will be used to solve this question.

Please note that the NPER represents the time value.

Where;

Present value is $754.08

Let's assume that the face value is $1,000

PMT= 1,000 x 7.25% ÷2

=$36.25

NPER= 9 years x 2

= 18 years

The formulae is therefore

Rate(NPER,PMT,-,PV,FV)

The value of the present value is negative.

a. The pretax would therefore be 11.75%

b. After tax cost of debt would be ;

Pretax cost of debt x (1 - tax rate)

11.75% x (1 - 30%)

11.75% x (1 - 0.03)

=8.225%.

4 0
3 years ago
Which option allows you to pool your money and invest in a portfolio with other
Levart [38]

Answer:

a mutul fund

A mutual fund is a company that pools money from many investors and invests the money in securities such as stocks, bonds, and short-term debt. The combined holdings of the mutual fund are known as its portfolio. Investors buy shares in mutual funds.

Explanation:

have a great day ahead ":)

6 0
2 years ago
Read 2 more answers
There are numerous exceptions to the parol evidence rule, with perhaps the most common being when ________ evidence serves to cl
jeka94

The parol evidence rule has many exceptions, with possibly the most prevalent one being when <u>oral</u> evidence serves to clear up a(n) <u>ambiguous</u> part of an  agreement.

More about the parol evidence rule:

The parol evidence rule is a principle of Anglo-American common law that controls the types of evidence that parties to a contract dispute may provide in an effort to ascertain the precise terms of the contract.

The parol evidence rule also prohibits parties who have reduced their agreement to a finalized written instrument from adding further evidence later on as proof of a different intent regarding the contract terms, such as the content of oral exchanges from earlier in the negotiation process.

Learn more about the parol evidence rule here:

brainly.com/question/15733971

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7 0
1 year ago
True or false: it’s always immediately obvious when boundaries are crossed in a relationship.
Anastasy [175]

Answer:

True?

Explanation:

I hope this was right!

5 0
3 years ago
Read 2 more answers
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