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AleksAgata [21]
3 years ago
9

On January 1, 2020, Castaway Corp. issued 5,000 shares of preferred stock ($15 par value) at $45 per share. Each share of prefer

red stock is redeemable at the option of the stockholder at $45 per share. On September 1, 2020, preferred shareholders holding 1,000 shares of preferred stock redeemed their stock.
The entry recorded by Castaway Corp. on September 1, 2020, would include the following:
A. No net change to stockholdersâ equity.
B. A decrease to retained earnings for $5,000.
C. A decrease to assets for $45,000.
D. No net change to preferred stock outstanding.
Business
1 answer:
Anarel [89]3 years ago
6 0

Answer: C. A decrease to assets for $45,000.

Explanation:

When shareholders redeem their stock, the company pays them for the redeemed stock at a certain price which in this case is $45.

The total cost of redemption is therefore:

= 45 * 1,000

= $45,000

The company uses cash to pay for this which is an asset. Assets will therefore reduce by $45,000 which is the amount of cash paid.

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The new performance management system at the Long Island Jewish Medical Center (L.IJ.M.C.) was specifically designed to address
vredina [299]

Answer: B; Ratings of employee traits are not effective measures of performance.

Explanation:

The performance of an employee in their work environment should be measured on how they perform their job duties. A persons traits can be more or less linked to some performance but it will be dependent on the leader's situation. Everyone has different traits in any job and each should be measured differently not together.

Some types of performance based appraisal systems will attempt to force management rate the employees on their actions and not their traits. By doing this, it will improve the companies performance ratings.

5 0
4 years ago
Describe the three levels of selectivity. Describe an example for each.
Oksi-84 [34.3K]

Hi, you've asked an unclear question. However, I assume you're referring to levels of college selectivity.

Three levels of selectivity (college selectivity) are:

Most selective

Extremely selective

Very selective

Most selective: Colleges with this level of selectivity are said to accept fewer than 15% of all applicants, examples include, Harvard University, Johns Hopkins University, Stanford University

, Massachusetts Institute of Technology.

Extremely selective: Colleges with this level of selectivity are said to accept fewer than 35% of all applicants. Institutions under this category include Boston University, New York University, Georgia Institute of Technology, etc.

Very selective: The Colleges under this category accept fewer than 50% of all applicants. Examples are George Washington University, Kenyon College, Lafayette College,

North Carolina State University, etc.

These are some of the selectivity levels, you could find more Information from other online resources.

4 0
3 years ago
What happens when demand exceeds supply?
anygoal [31]

Answer:

B

Explanation:

Since demand increased more people want it, which would make it more logical to increase the price

7 0
3 years ago
During its most recent fiscal year, Raphael Enterprises sold 350,000 electric screwdrivers at a price of $19.50 each. Fixed cost
Reil [10]

Answer:

the variable cost is $4,025,000

Explanation:

The computation of the variable cost is as follows:

Given that

Sales units = 350,000 units.

Sale Price = $19.50.

Fixed cost = $1,225,000.

Pre tax income = $1,575,000

Based on the above information

Sale Value is

= 350,000 units × $19.50

= $6,825,000.00

Now

Contribution Margin is

= Sales - Fixed cost

= $6,825,000 - $1,225,000

= $5,600,000

And,

Variable Cost is

= Contribution margin - Pretax income

= $5,600,000 - 1,575,000

= $4,025,000

hence, the variable cost is $4,025,000

3 0
3 years ago
When the price is $12 the quantity demanded is 50. When the price increases to $24 the quantity demanded decreases to 30. Calcul
Allushta [10]

Answer:

PED = -0.4 or |0.4| in absolute terms

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

  • % change in quantity demanded = [(30 - 50) / 50] x 100 = -40%
  • % change in price = [($24 - $12) / $12] x 100 = 100%

PED = -40% / 100% = -0.4 or |0.4| in absolute terms

the demand is price inelastic since |0.4| < 1

this means that the change in quantity demanded is proportionally less than the change in price.

6 0
3 years ago
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