Paid to Legal advisor as legal expenses Rs 8,000.

The corporate charter of Martin Corporation allows the issuance of a maximum of 4,000,000 shares of $1 par value common stock. D

Mrrafil [7]

The question is incomplete. Here is the complete question

The corporate charter of Martin Corporation allows the issuance of a maximum of 4,000,000 shares of $1 par value common stock. During its first three years of operation, Martin issued 3,200,000 shares at $15 per share. It later acquired 30,000 of these shares as treasury stock for $25 per share. Based on the above information, answer the following questions:

a. How many shares authorized?

b. How many shares were issued?

c. How many shares are outstanding?

d. What is the balance of the Common Stock account?

e. What is the balance of the Treasury Stock account?

Answer:

(a) 4,000,000 shares

(b) 3,200,000 shares

(c) 3,170,000 shares

(d) $3,200,000

(e) $750,000

Explanation:

(A) Number of shares that was authorized is 4,000,000

(B) Number of shares that was issued is 3,200,000

(C) The number of shares outstanding can be calculated as follows

= number of shares issued-acquired shares in the treasury stock

= 3,200,000-30,000

= 3,170,000

(D) The balance of common stock account can be calculated as follows

= number of shares that was issued-per value

= 3,200,000×$1

= $3,200,000

(E) The balance of the treasury stock account can be calculated as follows

= acquired shares in the treasury stock×price per share

= 30,000×$25

= $750,000

6 0

3 years ago

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2021. The manufacturing cost

svlad2 [7]

Answer:

We take this as the correct option:

$18,274,866

Explanation:

Present Value of the Lease Payments:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 3,060,451

time 10

rate 0.07

$3060451 \times \frac{1-(1+0.07)^{-10} }{0.07} = PV\\$

PV $23,000,000.0511

Now, we build the lease schedule up to the first two payment:

$\left[\begin{array}{cccccc}$Time&$Beg&$Cuota&$Interest&$Amort&$Ending&1&23,000,000&3,060,451&0&3060451&19,939,549&2&19,939,549&3,060,451&1,395,768&1664683&18,274,866\end{array}\right]$

4 0

3 years ago

A bakery sold apple pies for $11 and blueberry pies for $13. one saturday they sold a total of 38 pies and collected a total of

Nimfa-mama [501]

So first you know that if a is apple pies and b is blueberry that
$460=11a+13b in terms of price and you also know that the number
a+b=38
I solved that for either a or b (I chose a)
So
A=38-b
Them I plugged it in to the money equation to solve for b
460=11(38-b)+13b
460=418-11b+13b
460=418+2b
42=2b
B=21
Therefore you can do 38(total pies)-21(what b equals) to find the apple pies which would be 17 so a=17
Therefore the answer is B (17 apple and 21 blueberry)

5 0

3 years ago

Read 2 more answers

A large national bank charges local companies for using their services. A bank official reported the results of a regression ana

Snowcat [4.5K]

Answer:

The correct option is (b).

Explanation:

The regression equation to predict the bank's charges (Y) measured in dollars per month for services rendered to local companies based upon the company's sales revenue (X) measured in millions of dollars is:

$\hat Y=-3100+27X$

The y-intercept of the line is, -3100.

The slope of the line is, 27.

The y-intercept of a regression line is defined as the average value of the dependent variable when the independent variable value is 0.

The dependent variable, in this case, is the bank's charges and the independent variable is the company's sales revenue.

As the company's sales revenue cannot be $0, the y-intercept cannot be interpreted.

Thus, the correct option is (b).

5 0

4 years ago

Credit cards areA. the fastest growing component of the M1 money supply.B. near-monies that are part of the money supply, but no

melomori [17]

Answer:

C. not money, officially defined.

Explanation:

The M1 represent the currency and check deposits

The M2 is M1 + "near money." Which are: savings , and time deposits.

We must remember that money supply represent all monetary assets in the economy. The credit card are not monetary assets.

7 0

3 years ago

Paid to Legal advisor as legal expenses Rs 8,000.​

Paid to Legal advisor as legal expenses Rs 8,000.