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.
Yes,yes, it is.
making it longer so i can answer
Answer:
$20,000 ordinary gain
Explanation:
Data provided in the question:
Cash proceeds from Selling of the equipment = $50,000
Purchasing cost of the equipment = $60,000
Depreciation expense = $30,000
Now,
The book value of the equipment
= Purchasing cost of the equipment - Depreciation expense
= $60,000 - $30,000
= $30,000
Since,
the amount of proceeds from sales is higher than the book value of the equipment
Therefore a gain will be recognized
The amount of Gain = proceeds from Selling - book value
= $50,000 - $30,000
= $20,000
Hence,
$20,000 ordinary gain
<span>The element of the promotional mix that coca-cola is using in this scenario is known as sales promotion. As coca-cola is paying for this inadvertently via their cost of goods accounts.</span>
