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Anika [276]
3 years ago
10

On January 1, 2019, Fitbit goes public and issues 50 million shares at $20 per share. Fitbit had 200 million shares prior to goi

ng public and the book value of the common stock & additional paid in capital was $500 million. On January 1, 2020, Fitbit shares are trading at $45 per share and, for the first time ever, Fitbit buys back 20 million shares. What is the January 1, 2020 balance of common stock & APIC?
Business
1 answer:
Elina [12.6K]3 years ago
6 0

Answer:

$600 million

Explanation:

On January 1, 2020, the balance of common stock & APIC

Common stock & APIC = Paid-In Capital + Share Capital raised by issuing 50 million shares at $20 per share - Treasury Stock

Here

Paid-In Capital is $500 millions

Issue of 50 million shares at $20

Treasury Stock is 20 million shares at $45 per share

By putting the values, we have:

Common stock & APIC = $500 million + $1000 million - (20 million shares * $45 per share)

Common stock & APIC = $1500 millions - $900 million = $600 million

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Elina [12.6K]

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The correct answer is Data Steward

<h3>Why is MIS becoming so important to businesses?</h3>

The main purpose of the MIS reporting system is to provide management with important business information for complex decision-making. Reliable information about business data related to current market development is essential for governments to be able to make swift and well-founded decisions.

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8 0
2 years ago
The Gingham Company's budgeted income statement reflects the following amounts:
aleksklad [387]
:0/0:0 even h i’d s a square tune quar an tine is bad
6 0
3 years ago
An amount of something left over when requirements have been met; an excess of production or supply over demand
harkovskaia [24]
The answer will be An excess of production.


Hope this helps!
8 0
4 years ago
The Retained Earnings balance was $24,100 on January 1. Net income for the year was $19,900. If Retained Earnings had a credit b
padilas [110]

Answer: $17800

Explanation:

The opening balance of Retained earnings = $24,100

Net Income for the year = $19,900

Closing balance of Retained earnings = $ 26,200

The, the amount of dividends declared during the year = (opening balance) +(Net Income) -( Closing balance)

= $ (24100+19900-26200)

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Hence, the amount of dividends declared during the year  is $17800.

4 0
3 years ago
You are meeting to discuss the proper categorization of marketing strategy costs in the monthly department budget performance re
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Answer:

C)

Explanation:

I'm not too sure but I think they can all change really depending on the circumstances. hope that helped!

7 0
3 years ago
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