1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alexxx [7]
2 years ago
7

The corporate charter of Maine Yacht Corporation allows the issuance of a maximum of 3,000,000 shares of $1 par value common sto

ck. During its first three years of operation, Maine issued 2,200,000 shares at $15 per share. It later acquired 30,000 of these shares as treasury stock for $25 per share. Based on the above information, answer the following questions:
a. How many shares were authorized?
b. How many shares were issued?
c. How many shares are outstanding?
d. What is the balance of the Common Stock account?
Business
1 answer:
Delvig [45]2 years ago
7 0

Answer:

a)3,000,000 shares

b)2,200,000 shares

c)2,170,000 shares

d)$2,200,000

Explanation::

a) Based on the information given 3,000,000 shares were authorized

b) Based on the information given 2,200,000 shares were issued

c) Calculation for many shares are outstanding

Outstanding shares= (2,200,000 issued-30,000 in treasury)

Outstanding shares=2,170,000 shares

d) Calculation for the balance of the Common Stock account

Balance of the Common Stock account = ($1 × 2,200,000 shares

Balance of the Common Stock account=$2,200,000

You might be interested in
Assess how entrepreneurship may be a viable option to counteract unemployment​
makkiz [27]

Answer:

As we've lightly touched on already, entrepreneurial enterprises provide citizens with paying jobs in order to operate and grow. They also provide employees with the means to further grow one's own earning potential through training and on-the-job experience.

3 0
3 years ago
Which skill do you feel is the most important? Why? (2-4 sentences)
Zanzabum

Answer:I do not think there is a subject less important than another.

Explanation: I say this because its true, and that you need to know math to have a job. You ned to know how to read so you can know what to type. And you need to know science because its amazballs!!

4 0
3 years ago
if the required reserve ratio is 10 percent the banking system currently has excess reserves equal to
prisoha [69]

Answer:

Experts are tested by Chegg as specialists in their subject area. We review their content and use your feedback to keep the quality high. Transcribed image text: If the required reserve ratio is 10 percent, the banking system currently has excess reserves equal to: $10 billion.

Explanation:

5 0
3 years ago
____ consumption occurs when consumers "set apart" objects and events from normal activities and treat them with respect. ____ c
solong [7]

Answer:

  • Sacred consumption
  • Profane consumption

Explanation:

This differentiation is based on special religious events (e.g. religious holidays) that considered some goods as sacred, while profane had to do with everyday life.

Some modern marketing strategies try to build sacred brands. For example, Google has become our God of all knowledge and no one even dares to challenge that almost religious belief. Anyone can make their own coffee or buy coffee at any coffee shop, but Starbucks is different, it has built a sense of emotional connection with the public. It's not any coffee that we need or want.  

6 0
3 years ago
If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was a
galina1969 [7]

The given statement " If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent " is TRUE

Explanation:

Though prices doubled during the 23 years, the average annual inflation rate during that time could be inferred by approximately 3 percent.

The average inflation rate in the USA has been 3% over the last 100 years. That said, in measuring shorter periods starting in the 1950s, the average rates are much higher.

Many financial experts working with pending pensioners emphasize the importance of contributing to pension scheming an average inflation rate. Since inflation will reduce the value of savings considerably, it is important to determine how and when this powerful economic phenomenon will affect the savings.

3 0
3 years ago
Other questions:
  • If a store adds 50 chairs to its current inventory, the total number of chairs will be the same as three-halves the current inve
    6·1 answer
  • Which neca committee is responsible for the production of the magazine the quality connection?
    13·1 answer
  • A company's gross profit (or gross margin) was $129,650 and its net sales were $502,900. Its gross margin ratio is
    11·1 answer
  • Ken just purchased new furniture for his house at a cost of $15,000. The loan calls for weekly payments for the next 5 years at
    8·1 answer
  • Which statement best describes the economic relationship between
    15·1 answer
  • You are 30 years old today and are considering studying for an MBA. You just received your annual salary of $50,000 and expect i
    5·1 answer
  • What must be done if a transaction increases the left side of the accounting equation?
    10·2 answers
  • Grace is a self-employed artist. She can make 20 pieces of pottery per week. She is considering hiring her sister Kate to work f
    10·1 answer
  • 1. Un plan de mercadeo debe estar sustentado en
    15·1 answer
  • Need help with accounting. ASAP
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!