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Citrus2011 [14]
3 years ago
9

Andrew sold IBM stock to his sister Susan for $6,000. Andrew purchased the stock two years ago for $8,000. Susan sold the stock

through her broker for $7,300. How much gain or loss did Susan recognize on the sale?
a. $700 loss
b. No gain or loss
c. $1,300 gain
Business
1 answer:
klasskru [66]3 years ago
6 0

Answer:

c. $1,300 gain

Explanation:

In this scenario, Susan recognized a $1,300 gain on this sale. This is because Susan originally purchased the stock for a total price of $6,000. When she sold the stock, she sold it for a higher price than what she originally paid for it therefore recognizing a gain. To calculate this gain we simply subtract her initial purchase price from her selling price of the stock which would give us a $1,300 gain.

$7,300 - $6,000 = $1,300

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High Mountain Lumber (HML) has normal budgeted overhead costs of $115,150 and a normal capacity of 35,000 direct labor hours for
Furkat [3]

Answer:

                                                                                                 $

Standard total overhead cost (0.5 hr x 25,000 x $3.29) 41,125

Less: Actual total overhead cost ($21,000 + $18,000)    39,000

Total overhead variance                                                      2,125(F)

                                           

Standard overhead application rate

= <u>Budgeted overhead</u>

  Budgeted direct labour hours

= <u>$115,150</u>

   35,000 hours

= $3.29 per direct labour hour

Explanation:

Total overhead variance is the difference between standard total overhead cost and actual total overhead cost. Standard total overhead cost is the product of standard hours per unit, standard overhead application rate and actual output produced. Actual total overhead cost is the aggregate of actual variable overhead cost and actual fixed overhead cost. Standard overhead application rate is the ratio of budgeted overhead to budgeted direct labour hours (normal capacity).

6 0
3 years ago
If a company purchases plastic that they will melt and form into milk jugs that they will then sell to milk plants, the cost of
Alinara [238K]

Answer:

D : cost of goods sold

Explanation:

The plastic are used to build the milk jugs that are used to sell milk . So  the cost of them is part of the goods sold since withouth the sell of the milk , the jugs won't exist

6 0
3 years ago
When treasury stock is purchased for an amount greater than its par, what is the effect on total shareholders' equity?
fomenos

When treasury stock is purchased for an amount greater than its par then the total shareholders' equity decreases.

Given that the treasury stock is purchased for an amount greater than its par.

We are required to find the effect of the purchase of treasury stock for an amount greater than its par on the total shareholders' equity.

Treasury stock is basically known as treasury shares or reacquired stock, and refers to previously outstanding stock that is bought back from stockholders by the issuing company. The result of issuing treasury stock is that the total number of outstanding shares on the open market decreases. Shares of a company are a part of total shareholders' equity and because shares are issued for security, it will decrease the total shareholders;equity.

Hence when treasury stock is purchased for an amount greater than its par then the total shareholders' equity decreases.

Learn more about treasury stock at brainly.com/question/17439058

#SPJ4

8 0
1 year ago
When is going to be why would you put money into saving account
OlgaM077 [116]
When I get a job and so you will have money set aside for when the government comes and takes everything you own.
4 0
3 years ago
After describing herself to the personnel director during a job interview, Jane added that she liked to attend formal affairs. A
Lemur [1.5K]
<h2>According to Allport, this preference is an example of a <u>Secondary trait</u></h2>

Explanation:

There are 3 types of traits.

1. Cardinal traits:

  • This is the dominating traits
  • The person can be found by the qualities

2. Secondary traits:

  • This is closely related to attitudes
  • This is also related to preferences of a human
  • This would differ from person to person
  • This might change according to the situation.

3. Central traits:

  • This forms the base for the personality development
  • This would be meaningful
  • Central traits can be polite, helping, anxiety, etc.
5 0
3 years ago
Read 2 more answers
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