Answer:
The authorized common stock shares remain 1,000,000 shares.
Explanation:
The authorized shares are not affected by movements in the shares, like issue of shares, repurchase, and resale of treasury stock shares. The authorized shares, therefore, represent the number of shares that the company is legally bound to issue without exceeding. The implication is that the company is free to issue shares less than or equal to the authorized shares, but it may not issue more than the authorized until it obtains a new authorization.
The movements are accounted for in separate accounts called Issued Common Stock Account and Treasury Stock Account. The treasury stock account is a contra account to the Common Stock.
Answer:
I think Sean should negotiate for 2,500 dollars and save the 500 dollars for college or for something else he might want or need to buy.
Answer:
c.- 93,700 // 0
Explanation:
As it lacks commercial substance neither Horton nor the other parti will recognize gain/loss on the trade.
Horton will recognize the new land for the value traded without a gain/loss entry:
Land 93,700 (88,400 + 5,300 cash) debit
Cash 5,300 credit
Land 88,400 credit
--to record trade of land without commercial subtance--
Answer:
6%
Explanation:
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited or borrowed.
Solution
interest rate on 3-year bond
Interest rate = [{(1 + 3%) × (1 + 5%) × (1 + 8%)} ^ (1 / 3) - 1] + 0.75%
Interest rate = [(1.16802 ^ 0.33) - 1] + 0.75%
Interest rate = (1.0525- 1) + 0.75%
Interest rate = 0.0525 + 0.0075%
Interest rate = 0.06 OR 6%
Answer:
D)record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold.
Explanation:
perpetual inventory system can be regarded as an inventory management method which involves the recording of real time transaction of stocks by application of technology , both sold and received stocks. This method has great efficiency compare to periodic inventory system. It should be noted that Under the perpetual inventory system, in addition to making the entry to record a sale, a company would record a decrease in inventory and an increase in cost of goods sold for the cost of the merchandise sold.
