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Fittoniya [83]
3 years ago
9

OM, Inc. was organized on January 1, 2020. The firm was authorized to issue 1,000,000 shares of $2 par value common stock. Durin

g 2020, OM had the following transactions relating to stockholders' equity: Issued 20,000 shares of common stock at $7 per share. Issued 40,000 shares of common stock at $8 per share. Reported a net income of $100,000. Paid dividends of $50,000. What is the total amount recorded in the Common Stock account at the end of 2020
Business
1 answer:
vodka [1.7K]3 years ago
6 0

Answer:

$120,000

Explanation:

It is important to identify whether the Common Stock have a stated Par Value or No Par Value from the Authorized Capital. In this case the Common Stock are stated at a $2 par value. With Par Value Stated Shares, any price paid in excess of the Par Value is Accounted for in a reserve called Paid in Excess of Par or Stock Premium.

Transaction 1

Cash $140,000 (debit)

Common Stock $40,000 (credit)

Paid In Excess of Par $100,000 (credit)

Transaction 2

Cash $320,000 (debit)

Common Stock $80,000 (credit)

Paid In Excess of Par $240,000 (credit)

Therefore,

Total Common Stock at the end of 2020 will be $120,000 ($40,000 + $80,000).

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Suppose that the market for candy canes operates under conditions of perfect competition, that it is initially in long-run equil
Monica [59]

Answer:

The answer is: $0.15

Explanation:

In a perfectly competitive industry, the price of a good or service is always equal to the marginal revenue for the suppliers. In this case, the price for candy canes is $0.10.

If the price of candy canes' inputs increases by $0.05, then the new price of candy canes will be $0.15 ($0.10 + $0.05).

4 0
3 years ago
Frida what does frida ask diego when she manages to walk and visits him in the job?
Musya8 [376]

Frida, Mirar sus pictures Frida asks Diego when she manages to walk and visits him on the job.

Work is important to your sense of purpose. Because work provides a goal to work on every day and an income to support you financially. It will help you build skills and experience that will last throughout your career, even if you change careers in the future.

The full form of JOB is "Joining Others Business". However, Job is not an acronym. "Job" is a word that describes a job or task. Occupation is the role of an individual in society. More precisely, a job is an activity that is usually performed regularly and often paid for.

Learn more about the job at

brainly.com/question/3700565

#SPJ4

7 0
1 year ago
Which one of the following account groups normally has a credit​ balance? A. equity and assets B. assets and liabilities C. asse
andrezito [222]

Answer:

a) Assets and expenses

Explanation:

Credit balance can be regarded as amount that is been owed by a business to a customer. This occur when the payment by the customer to the business exceed the current invoice stipulates. credit balances can be located or found at right side of a subsidiary ledger account, it can be found on right side of a general ledger account. credit balance that is contained on billing statement of the customers can be regarded as amount that card issuer is owing the customer.

It should be noted that one if account groups that is normally has a credit​ balance is Assets and expenses

4 0
3 years ago
You own a portfolio that is invested 35 percent in Stock X, 20 percent in Stock Y, and 45 percent in Stock Z. The expected retur
Naddik [55]

Answer:

Expected return - Portfolio = 0.1155 or 11.55%

Explanation:

The expected return on the portfolio is the weighted average of the expected returns of the individual stocks that form up the portfolio. Thus, the formula for the expected return of the portfolio is,

Expected return - Portfolio = rA * wA  +  rB * wB + ... + rN * wN

Where,

  • rA, rB, ... represents the expected return on stock A, return on stock B and so on
  • w represents the weight of each stock in the portfolio

Expected return - Portfolio = 0.09 * 0.35  +  0.15 * 0.2  +  0.12 * 0.45

Expected return - Portfolio = 0.1155 or 11.55%

3 0
3 years ago
Chrissie's Cooking Supply Company has 5,000 skillets in their warehouse at the end of July. One quarter of these skillets were h
Morgarella [4.7K]

Answer:

The remaining balance is

Units Unit Cost Total

1.250 $12                 $15.000

3.552 $15                 $53.280

Total=$68.280

Explanation:

LIFO Perpetual chart is attached.

It shows purchases, sales and balance of each period. To get the ending inventory cost  we have to add the cost of all units in the last balance of the month.  

That will be,  

Units Unit Cost Total

1.250 $12                 $15.000

3.552 $15                 $53.280

Download xlsx
6 0
4 years ago
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