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Dimas [21]
3 years ago
7

Angelo Company reacquired 26,000 shares of its common stock for $16 per share on June 1. On July 1 they sold 7,000 treasury shar

es for $23 per share. On August 1 they sold 9,000 treasury shares for $13 per share. Assuming no prior balance in the Additional Paid-in Capital from Treasury Stock Transactions account, what is the ending balance in this account following these transactions
Business
1 answer:
aev [14]3 years ago
4 0

Answer:

$22,000 Credit balance

Explanation:

Calculation to determine the ending balance

First step is prepare the Journal entries

Dr Treasury stock $416,000

Cr Cash $416,000

(26,000 shares*$16 per share)

Dr Cash $161,000

(7,000*$23)

Cr Teasury stock $112,000

($16 per *7,000)

Cr Additional Paid-in Capital $49,000

($161,000-$112,000)

Dr Cash $117,000

(9,000*$13)

Dr Additional Paid-in Capital $27,000

($144,000-$117,000)

Cr Teasury stock $144,000

($16*9,000)

Now let calculate the Ending balance

Ending balance=-$49,000+$27,000

Ending balance=-$22,000 Credit balance

Therefore the Ending balance is $22,000 Credit balance

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The demand for salt is inelastic, and the supply of salt is elastic. The demand for caviar is elastic, and the supply of caviar
stellarik [79]

Answer:

<h2>In the case of the salt,the salt buyers would bear most of the tax burden and for caviar,the sellers would bear most of the tax burden.Hence,the correct answer is option b. or buyers of salt and the sellers of caviar.</h2><h2 />

Explanation:

In the case of salt,the supply is more elastic than the demand which implies that the salt sellers are relatively more responsive to salt price change in the market.Therefore,if any tax is imposed on them,it would basically translate into higher production cost for the sellers and due to price elasticity of supply,the sellers would pass the tax to the salt consumers who are comparatively less price sensitive.Now,since the consumer demand for salt is inelastic and the consumers are relatively price insensitive,the consumers won't perhaps mind paying a higher market price for salt including the extra tax.Hence,in this instance,the tax burden would fall on the salt buyers or consumers.

On the other hand,based on the same line of argument,the tax burden would fall on the sellers of caviars as the price elasticity of caviar supply is less than that of the caviar demand.In this case,the caviar sellers are less sensitive about changes in market price of caviars and thus,won't mind paying a relatively higher production cost/expense which is inclusive of the tax burden.Due to higher price elasticity of demand or price responsiveness,the cavier consumers would be reluctant to bear the tax burden and pass it onto the sellers.

8 0
3 years ago
To find the value of a property using the income approach to value, if the net operating income and the capitalization rate were
mars1129 [50]

Answer:

c. divide the net operating income by the capitalization rate.

Explanation:

Income approach assumes that the earnings would be at the capitalization rate. Now, the net operating income is a result of operations and the income would be equivalent to the capitalization rate.

Thus, the net value of the property shall be net operating income/ capitalization rate.

This will calculate the total value of operations for which the business is done.

7 0
3 years ago
The purchase price and all costs to bring an asset to its desired condition and location for use should be ________.
Nana76 [90]

Answer:

b. capitalized

Explanation:

The purchase price and all costs to bring an asset to its desired condition and location for use should be capitalized.

3 0
3 years ago
According to 54 leadership experts of 38 countries, there are two key components to leadership. The first is the ability to pers
aev [14]

Answer: Enablers

Explanation:

Years ago, 54 leadership experts from 38 countries reached a consensus on leadership.

They agreed that leadership should be about influencing, motivating, and enabling others to contribute towards the goals of the Organization that they work for.

This consensus had 2 parts.

Firstly, leaders motivate others through persuasion and otherinfluence tactics.

Secondly and relatively more important in this question, leaders act as ENABLERS.

They ENABLE those under them by distributing resources, minimizing disruptions and just generally by being leaders to their subordinates to make it easier for the goals and objectives of the company to be realized.

3 0
4 years ago
The day sheet is a(n):
PIT_PIT [208]

Answer:

[A] chronological summary of all transactions posted to individual patient ledgers/accounts on a specific day

Explanation:

3 0
2 years ago
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