HELP IM TIMED!!!!!!!!!

Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000

Zanzabum

Answer:

C. $370,000

Explanation:

Poodle Corporation was organized on January 3, 2011. The firm was authorized to issue 100,000 shares of $5 par common stock.

During 2011, Poodle had the following transactions relating to shareholders' equity:

Issued 30,000 shares of common stock at $7 per share.

Issued 20,000 shares of common stock at $8 per share.

Reported a net income of $100,000.

Paid dividends of $50,000.

Therefore total Paid-in capital at the end of 2011 is derived by :

(30,000 shares x $7) + (20,000 x $8) = $370,000

Paid - In capital refers to the funds that stockholders have invested through the purchase of stock from the issuing company, including premiums and not just par value.

3 0

4 years ago

On June 1, 2022, Crane Company was started with an initial investment in the company of $26,000 cash. Here are the assets, liabi

skelet666 [1.2K]

Answer and Explanation:

For preparing the retained earning statement first we have to determine the net income or net loss which is shown below:

= Service revenue - supplies expense - Maintenance and repairs expense - advertising expense - utilities expense - salaries and wages expense

= $7,800 - $1,100 - $690 - $400 - $210 - $1,500

= $3,900

Now the preparation of the retained earning statement is presented below:

Crane Company

Retained Earnings Statement

For the month of June

Beginning balance $ -

Add: Net income $3,900

Less: Dividends ($1,521)

Ending balance $2,379

8 0

3 years ago

…………………….is often used for newly launched

BlackZzzverrR [31]

Answer:

b

Explanation:

b

6 0

3 years ago

Peed VVheels has insurance on its race car track that covers up to $150,000 in damage with a $7,500 deductible. This means that

Viktor [21]

Answer:

Speed Wheels and the Insurance Company

The insurance company will pay Speed Wheels $14,200.

Explanation:

a) Data:

Insurance cover = $150,000

Insurance premium = $7,500

Insurance Claim = $14,200

b) The insurance company is expected to restore the insured, Speed Wheels, to its former position before the damage. It can do this by issuing a check to the value of the claim after some verifications. The insurance company will most likely not reject the claim as the amount of damage suffered is within the insurance coverage.

8 0

3 years ago

Pauley Company needs to determine a markup for a new product. Pauley expects to sell 15,000 units and wants a target profit of $

gulaghasi [49]

Answer:

81%

Explanation:

Calculation for the markup percentage to variable cost that should be used

Using this formula

Markup percentage=[(Target profit + Fixed overhead costs + Fixed administrative costs) / Total variable costs

Let plug in the formula

Markup percentage=[($22*15,000 units)+$13,500+$21,000]/$30×15,000)

Markup percentage=($330,000+$13,500+$21,000)/$450,000

Markup percentage=$364,500/$450,000

Markup percentage=0.81*100

Markup percentage=81%

Calculation for Total variable costs

Variable product cost per unit $19

Variable administrative cost per unit $11

Total variable costs =$30

Therefore the markup percentage to variable cost that should be used will be 81%

8 0

4 years ago