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baherus [9]
3 years ago
13

On October 10, the stockholders’ equity of Sherman Systems appears as follows. Common stock–$10 par value, 95,000 shares authori

zed, issued, and outstanding $ 950,000 Paid-in capital in excess of par value, common stock 331,000 Retained earnings 1,048,000 Total stockholders’ equity $ 2,329,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 7,300 shares of its own common stock at $48 per share on October 11. Sold 1,575 treasury shares on November 1 for $54 cash per share. Sold all remaining treasury shares on November 25 for $43 cash per share.
Business
1 answer:
a_sh-v [17]3 years ago
6 0

Answer:

Date                Description                                               DR                   CR

                                                                                          $                     $

Oct 11             Treasury Stock                                        350,400

                       Cash                                                                         350,400

                     <em> Being the purchse of teasury stock</em>

Nov 1                Cash                                                     85,050

                         Paid in Capital from Treasury stock                      9,450

                          Treasury stock                                                       75,600

                       <em>Being the cash realized on the sales of Treasury </em>

<em>                        stock above cost </em>

Nov 25           Cash                                                             246,175

                      Paid in capital from Treasury stock                9,450

                      Retained earnings                                          19,175

                        Treasury Stock                                                           274,800

                    <em> Being the sales of Treasury stock below the cost</em>

Explanation:

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Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies sug
IgorLugansk [536]

Answer:

1. The present yearly net operating loss is $65,700

2. Break even point in unit sales is 27,690 units, in dollars sales $2,575,170.00

3. The maximum annual profit that the company can earn is $23,300, at 30,500 units with a selling price per unit of $91

Explanation:

At breakeven point, the cost and revenue of the company are same such that the company neither a profit nor a loss. Operating profit or loss is the difference between the revenue and the cost of the company.

The cost of the company usually consist of the fixed and variable elements.

Given that the company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $830,700 per year with present annual sales volume (at the $93 selling price) is 25,500 units

Hence the operating profit or (loss)

= $93 * 25,500 - ($63 * 25,500 + $830,700)

= $765,000 - $830,700

= ($65,700)

A loss of $65,700

Break even point in unit sales = Fixed costs / (Selling price per unit – Variable cost per unit)

= $830,700 / ($93 - $63)

= $830,700 / $30

= 27,690 units

In dollar sales

= $93 * 27,690

= $2,575,170.00

if the marketing studies are correct then the new selling price per unit will be

= $93 - $2

= $91

The units sold will be

= 5000 +  25,500

= 30,500 units

The maximum profit to be made

= $91 * 30,500 - ($63 * 30,500 + $830,700)

= $854,000 - $830,700

= $23,300

6 0
3 years ago
In most​ cases, the company is not simply seeking a sale.​ rather, it wants to engage the customer over the long haul in a​ ____
nexus9112 [7]
<span>In most cases, the company is not simply seeking a sale. rather, it wants to engage the customer over the long haul in a mutually profitable relationship. With this kind of goal, a company will have a higher chance of prosperity and stability in the long run.</span>
7 0
3 years ago
I have been working on a Elementary Spanish 1 assignment for about 30 minutes, and I am now stuck. Can you please help me with t
Leya [2.2K]

These are OK

1. ¿Cuántos estudiantes hablan español?

Veinte estudiantes hablan español.

2. ¿A qué hora es la clase de sociología?

La clase es a las cinco

4. ¿Qué cursos tomas?

Estoy tomando historía, español, y arte

Now these need correction:

3. ¿Trabajas ustedes mañana? <em>This is common, "ustedes" is plural "you" , singular "you" is "tu", and when the verb is conjugated there is no need of the personal pronoun, a correct version of this question would be  "¿Trabajas mañana?</em>

No, no trabajas mañana. Trabaja sábado. <em>"trabajas" is conjugated in second person, you should answer in first person "No, no trabajo mañana, trabajo el sabado"</em>

5. ¿Estudias?  <em>I dont know what  you mean by this, in english is: "study?" if you are asking "are you studying for you examns?" or something like that it would be "¿estas estudiando?"</em>

¿Estudias...?? <em>And the answer would be "Si,estoy estudiando mucho" - "Yes, I'm studying hard"</em>

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¿Hay....???? <em>And the answer here is "yes, there are" => "si, hay"</em>

<em>8. ¿</em>Dónde está? <em>Where is...? is this question,  you might ask "where is the coffee shop?", "donde está la cafeteria?"</em>

¿Donde esta???? "<em>La cafeteria esta en la esquina" => "The coffee shop is the corner"</em>

4 0
2 years ago
Products are invented and revised by which department? marketing production research and development finance 2. what is the indu
Vanyuwa [196]

1. The answer is <u>"research and development".</u>


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Research and development are exceptionally hard to oversee, since the characterizing highlight of research is that the analysts don't know ahead of time precisely how to achieve the coveted outcome.  


2. The answer is <u>"capstone courier".</u>


Client buys and sensor organization money related outcomes are accounted for in an industry pamphlet called the Capstone Courier.  

Successful organizations will think about the Courier to comprehend the commercial center and discover openings. As the reenactment advances and systems are executed, organization results will start to shift.  


3. The answer is <u>"wage increases".</u>


Production department refers to a department that is straightforwardly associated with assembling items. Illustrations are the machining, completing, and collecting offices.  

Production is the useful territory in charge of transforming contributions to completed yields through a progression of generation forms. The Production Manager is in charge of ensuring that crude materials are given and made into completed merchandise successfully. He or she should ensure that work is completed easily, and must manage methods for making work more productive and more charming.  


4. The answer is <u>"Borrowing Long-term debt , Borrowing Short-term debt and Issuing Stock".</u>


Short-term debt alludes to any money related commitment that is either due inside a year time frame or due inside the current monetary year. The estimation of the transient obligation account is imperative while deciding an organization's execution.  

Notwithstanding any short-term debts due inside a year, there might be a segment of long-term debt that is likewise incorporated into this record. This part relates to installments that must be made on any long-term debt throughout the year.


5. The answer is <u>"marketing department".</u>


The Marketing Department assumes a fundamental part in advancing the business and mission of an organization.A advertising division advances your business and drives offers of its items or administrations. It gives the important research to recognize your objective clients and different groups of onlookers. Contingent upon the organization's various leveled association, a promoting executive, director or VP of advertising may be in charge.  

6. The answer is<u> "true".</u>


A proforma is being characterized as a standard record or proclamation in respects with back that could be alluded to as a technique utilized in methods for ascertaining the money related outcomes that are given.  

Proforma financial statements are utilized for a full scope of budgetary examination and ought to be made toward the start of each money related arranging cycle or at whatever point an association is thinking about a stage that could have a huge monetary effect.

8 0
3 years ago
Corporate Fund started the year with a net asset value of $14.00. By year-end, its NAV equaled $13.20. The fund paid year-end di
skelet666 [1.2K]

Answer:

What was the rate of return to an investor in the fund?

10%

Explanation:

To calculate the Rate of Return it's necessary to find the variation of the Net Assets Value during the year plus the distributions of income, the result of this it's divided by the Start of Year Net Asset Value.

Rate of Return  = (Var NAV + Distributions) / Start of Year NAV

Rate of Return  =

($13,2 - $14,0) = -$0,80

+ Distributions = $2,2 /

Start of Year NAV = $14,0

Rate of Return  =  (-$0,80 + $ 2,2 ) / $14,0 = 10%

 

8 0
2 years ago
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