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Viefleur [7K]
3 years ago
9

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 150 shares of its common st

ock on May 1 for $7,500. On July 1, it reissued 75 of these shares at $53 per share. On August 1, it reissued the remaining treasury shares at $48 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
Business
1 answer:
Sati [7]3 years ago
7 0

Answer:

$150

Explanation:

The computation is shown below:

Repurchase rate per share

= $7,500 ÷  150

= $50 per share

On july 1 paid in capital , treasury stock = $450 [150 × ($53 - $50)]

On August 1 paid in capital ,treasury stock = ($300) [150 × ($48 - $50)]

So on august 2 it would be

= $450 - $300

= $150

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DL and MOH budget: The Production Department of Top of The World Corporation has submitted the following forecast of units to be
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Answer and Explanation:

a. The computation of the total estimated direct labor cost is shown below:

Particulars     1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

Units to be produced 10,700 9,700 11,700 12,700 44,800

Multiply  Direct labor hour per unit 0.25 0.25 0.25 0.25 0.25

Total Direct labor hour required 2675 2425 2925 3175 11200

Multiply  Direct labor rate per hour $14 $14 $14 $14 $14

Estimated Direct labor cost $37,450 $33,950 $40,950 $44,450 $156,800

b.  The total estimated manufacturing cost and the cash disbursement is shown below:

Particulars 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

Units to be produced 10,700 9,700 11,700 12,700 44,800

Direct labor hour per unit 0.25 0.25 0.25 0.25 0.25

Multiply Total Direct labor hour required 2675 2425 2925 3175 11200

Variable manufacturing overhead rate $2 $2 $2 $2 $2

Estimated Variable manufacturing overhead cost $5,350 $4,850 $5,850 $6,350 $22,400

Add: Fixed manufacturing overhead $67,000 $67,000 $67,000 $67,000 $268,000

Total estimated manufacturing overhead $72,350 $71,850 $72,850 $73,350 $290,400

Less: depreciation $16,000 $16,000 $16,000 $16,000 $64,000

Cash disbursement for manufacturing overhead $56,350 $55,850 $56,850 $57,350 $226,400

We simply applied the above format to find out the manufacturing overhead, cash disbursement, and the direct labor cost

7 0
3 years ago
Which of these is the result of a government-regulated natural monopoly?
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I believe it would be C.) multiple installations of gas, water, and electric lines
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3 years ago
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What assumptions about the economy must be true for the invisible hand to work? to what extent are those assumptions valid in th
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<span>The main assumption that has to be true for Adam Smith's theories to be valid is that everyone is acting in a way that most benefits them and nobody else. Since resources are seen as limited, people are thought to act in ways that most benefit them and nobody else. These assumptions might be valid in many cases, but the concept of charity shows that they are not always the case, and the invisible hand might be guiding people at times, but not always.</span>
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2 years ago
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Create a list of requirements to open a new restaurant​
kupik [55]

Answer:

1. Choose a Restaurant Concept and Brand.

2. Create Your Menu.

3. Write a Restaurant Business Plan.

4. Obtain Funding.

5. Choose a Location and Lease a Commercial Space.

6. Restaurant Permits and Licenses.

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2 years ago
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Consider a hypothetical closed economy in which households spend $0.70 of each additional dollar they earn and save the remainin
navik [9.2K]

Answer:

(a) 0.7

(b) 3.33

(c) -$210

(d) -$147

(e) -$1 trillion

Explanation:

(a) Marginal propensity to consume (MPC) = 0.7

(b) Multiplier of this economy:

=\frac{1}{1-MPC}

=\frac{1}{1-0.7}

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(c) Decrease government purchases by $300 billion,

Initial change in consumption = Change in government purchases × MPC

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(d) This decreases income yet again, causing a second change in consumption equal to:

= Initial change in consumption × MPC

= -$210 × 0.7

= -$147 billion

(e) The total change in demand resulting from the initial change in government spending is:

= Change in government purchases × Multiplier

= $300 × 3.33

= -$1 trillion

7 0
3 years ago
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