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uysha [10]
3 years ago
7

Newton Corporation was organized on January 1, 20X7. On that date, it issued 200,000 shares of its $10 par value common stock at

$15 per share (400,000 shares were authorized). During the period January 1, 20X7, through December 31, 20X9, Newton reported net income of $750,000 and paid cash dividends of $380,000. On January 5, 20X9, Newton purchased 12,000 shares of its common stock at $12 per share. On December 31, 20X9, 8,000 treasury shares were sold at $8 per share. Newton used the cost method of accounting for treasury shares. What is the total stockholders' equity of Newton as of December 31, 20X9
Business
1 answer:
pychu [463]3 years ago
5 0

Answer:

$3,290,000

Explanation:

Calculation to determine total stockholders' equity of Newton as of December 31, 20X9

200,000 shares issued for $15$3,000,000

(200,000 shares* $15)

Add Net income $750,000

Less Dividends ($380,000)

Less Purchased 12,000 treasury shares at $12 ($144,000)

(12,000 treasury shares*$12)

Add Decrease in treasury stock account $96,000

(8,000 shares *$12)

Less Decrease in additional paid-in capital ($32,000)

[(8,000 shares *$12)-(8,000 shares *$8])

Total Stockholders’ equity $3,290,000

Therefore total stockholders' equity of Newton as of December 31, 20X9 is $3,290,000

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Which of the following warning signs could mean receipts are being pocketed before being deposited? A. missing documents or gaps
Natasha_Volkova [10]

Answer:

D. a difference between daily bank and cash balance

Explanation:

Once receipts are made, they will be recorded in the organisation or company's cashbook thus increasing the cash balance. If the receipts are not deposited into the bank account, there will be a difference between the cash and bank balance. Pocketing receipts in this manner is an example of a fraudulent activity.

8 0
3 years ago
Fill in the blanks with the word(s) from the drop-down list that would best complete the passage. Free trade has not produced al
iragen [17]

Answer:

Lowered, improved, increased, choice

Explanation:

Free trade has not produced all of the economic impacts that were originally predicted. At the same time, it is known that global shifts in production and trade have generally lowered consumer cost, improved company profits, and increased product choice.

3 0
2 years ago
The rate of return required by investors in the market for owning a bond is called the:_______
VashaNatasha [74]

The rate of return required by investors in the market for owning a bond is called the <u>Yield to </u><u>maturity</u>

A bond's coupon rate is the rate it pays each year, and yield is the return it makes. A bond's coupon is expressed as a percentage of its face value. Face value is simply the face value of the bond or the value of the bond as quoted by the issuer.

A bond's current yield is the annual income from the investment, including interest and dividend payments, divided by the security's current price. Yield to maturity (YTM) is the expected total return from holding a bond to maturity.

The current yield is the annual rate of return on investment (interest or dividend) divided by the security's current price. This indicator looks at the current price of a bond rather than its face value.

Learn more about maturity here brainly.com/question/26376004

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6 0
2 years ago
Nolte Co. has 4,800,000 shares of common stock outstanding on December 31, 2017. An additional 200,000 shares are issued on Apri
Artist 52 [7]

Answer:

3. 5,110,000 and 5,170,000

Explanation:

Number of shares to be used in computing basic earnings per share

= 4800000*12/12 + 200000*9/12 + 4800004/12

= 4800000 + 150000 + 160000

= 5,110,000

Number of shares to be used in computing dilute earnings per share

= 4800000*12/12 + 200000*9/12 + 4800004/12 + (6000000/1000)*40*3/12

= 4800000 + 150000 + 160000 + 60000

= 5,170,000

Therefore, The number of shares to be used in computing basic earnings per share and diluted earnings per share on December 31, 2018 is 5,110,000 and 5,170,000.

5 0
3 years ago
Sunny Corporation began the year with cash of $ 142 comma 000 and land that cost $ 47 comma 000. During the year Sunny earned se
Dmitry [639]

Answer:

How much net income​ (or net​ loss) did Sunny experience for the​ year?

Net loss 6000

Explanation:

Cash 142.000

Land 47.000

 

Revenue    285.000

Salaries          185.000

Rent            81.000

Utilities            25.000

Net loss     -6.000

6 0
3 years ago
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