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Lera25 [3.4K]
3 years ago
14

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 140 shares of its common st

ock on May 1 for $7,000. On July 1, it reissued 70 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2
Business
1 answer:
Ratling [72]3 years ago
4 0

Answer: $70

Explanation:

First, we need to calculate the purchase price per share and this will be:

= Purchase amount / Number of shares bought

= $7000 / 140

= $50 per share

Therefore, the balance in the Paid-in Capital, Treasury Stock account on August 2 will be:

= [70 × ($52 - $50)] + [70 × ($49 - $50)]

= (70 × $2) + ($70 × $-1)

= $140 - $70

= $70

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In order to predict future demand, a forecasting process combines data from the market, internal operations, and the wider business environment.

<h3>What really happens during a forecast?</h3>

The process of forecasting entails creating predictions based on historical and current data. These can then be contrasted (resolved) with what actually occurs. For instance, a business can predict its revenue for the following year and then contrast that prediction with the actual outcomes. A comparable but more broad phrase is prediction.

The five stages for forecast,

  • Step 1 is to define the issue.
  • Step 2: Information gathering.
  • Step 3: First exploratory analysis.
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To learn more about forecast, refer to:

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4 0
1 year ago
A key element of customer relationship management is to: Group of answer choices keep the price of goods as low as possible. dev
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A key element of customer relationship management is to: develop a strategy to achieve the largest possible market share.

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3 0
1 year ago
Beatrice invests $1,410 in an account that pays 3 percent simple interest. How much more could she have earned over a 4-year per
mixas84 [53]

Answer:

$7.77

Explanation:

The answer would be the difference between compound and simple interest

Simple interest = principal x time x interest

$1,410 x 0.03 x 4 = $169.20

Compound interest = future value - present value

future value = Principal ( 1 + interest)^n

$1,410 ( 1.03)^4 = $1586.96

$1586.96 -$1,410 = $176.97

Difference = $176.97 - $169.20 = $7.77

4 0
2 years ago
Assume that the labor market for barbers is competitive and that it is differentiated into two groups:
ehidna [41]

Answer and Explanation:

I will go through each and every option explaining the reasons and what option would be the best:

The (a) part says 'difference in wages will eventually disappear since a haircut is a homogeneous good' - This is not true because even though it is an homogeneous product, some customers do have a strong preference for barbers who are not going bald. Therefore, they know their worth and they would want to capitalize on that and get paid just a bit more than bald barbers.

The (b) part says 'barbershops that hire barbers with hair will be able to charge a higher price for a haircut to those consumers who have a strong preference for barbers with hair'. - If the barbershop charges higher price for barbers that have hair then the customers will prefer bald barbers as the questions mentions that there is high competition and since it is an homogeneous, customers would be willing to save money and get their haircut from some other barber.

The (c) part says 'barbershops that hire bald barbers will always be much more profitable' - Not necessarily. The reason is that some customers have a strong preference for barbers who are not bald and therefore, that would help barbershops who have barbers with hair to be a bit more profitable as some additional customers would want their services.

The (d) part says 'barbershops that hire barbers with hair will always be much more profitable' - This is the best option and the reason for it is because some customers have a strong preference for barbers with hair and that would help the barbershop to earn more. They would have the customers who already indifferent to whoever cuts their hair and in addition to that, they would also have the customers who have their preference.

Hence the answer is D.

4 0
3 years ago
On January 1, 2021, Ozark Minerals issued $10 million of 9%, 10-year convertible bonds at 101. The bonds pay interest on June 30
joja [24]

Answer:

Upon issuance, Ozark should "<em>Credit premium on bonds payable $100,000</em>"

Explanation:

Issue price of bond is ($10 million * $101) = $10,100,000

The face value of the bond                       = $10,000,000

The premium on bond = $10,100,000 - $10,000,000

The premium on bond = $100,000

                                   Journal entry

                                                    Debit                   Credit

Cash                                        $10,100,000

Premium on bonds payable                                $100,000

Bonds payable                                                     $10,000,000

Conclusion: Upon issuance, Ozark should "Credit premium on bonds payable $100,000"

7 0
3 years ago
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