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Ilya [14]
3 years ago
12

At December 31, the records of Nortech Corporation provided the following selected and incomplete data:Common stock (par $1; no

changes during the current year).Shares authorized, 500,000.Shares issued, ?; issue price $22 per share.Common Stock account, $200,000.Shares held as treasury stock, 3,000 shares, cost $20 per share.Net income for the current year, $147,750.Dividends declared and paid during the current year, $49,250.Retained Earnings balance, beginning of the year, $155,000.Required:Complete the following: TIP: To determine the number of shares issued, divide the balance in the Common Stock account by the par value per share. (Round "per share" answers to 2 decimal places.)
Business
1 answer:
solmaris [256]3 years ago
4 0

Answer:

The following balances have been worked out from the information given in question;

Explanation:

No. of Common stocks issued     $200,000/22         9,091

Paid in capital-Common Stocks               9,091*(22-1)  $90,909      

No. of Treasury Stock                                                         3,000

Treasury stock            3,000*20                                         $60,000      

EPS   =$147,750/(9,091 -3,000)                                          $24

Retained Earnings ($155,000+$147,750-$49,250)           $253,500

                                                 

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Landmark Company This company reported the following information in the stockholders' equity section of its December 31, 2019 ba
Jobisdone [24]

Answer:

option (c) 50,000

Explanation:

Number of shares of common stock issued and outstanding

= ( Price for Common Stock Authorized ) ÷ ( Market price of common stock per share )

given in the question:

Price for Common Stock Authorized =  $600,000

Market price of common stock per share = $12

Therefore,

Number of shares of common stock issued and outstanding

=  $600,000 ÷ $12

= 50,000

Hence,

the correct answer is option (c) 50,000

3 0
3 years ago
Suppose that furniture production encompasses the following stages: Stage 1: Trees are sold to lumber company. $1,000 Stage 2: L
g100num [7]

Answer:

a)

<em>The value added at each stage</em>

Stage                          Value added($)

1                                   1000

2   (2000-1000) =         1,000

3   (6,000- 2000) =      4,000

4    (10,000 - 6,000) =   4,000

b)

The amount by GDP is increased = $10,000

c) Reduce GDP

Explanation:

Gross domestic product (GDP) which is the total market value of all the final goods and services produced in a country over a given period of time. The GDP can be calculated using the value added approach.

Here the GPD figure is ascertained by summing the amount of additional value created by each factor of production at each stage of the production process of the final product.

a)

<em>The value added at each stage</em>

Stage                          Value added($)

1                                   1000

2   (2000-1000) =         1,000

3   (6,000- 2000) =      4,000

4    (10,000 - 6,000) =   4,000

b)

The amount by GDP is increased = $10,000 which is the total value added or the market value of the final goods

c)

If the lumber were imported it would be deducted from the value of export and thus reduce GDP.  Remember that GDP is the market value of all good and service produced within a given country over certain period of time .

3 0
3 years ago
Read 2 more answers
In 2013, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 143,929,000 were employed, 11,460,000 were
xz_007 [3.2K]

Answer:

A

Explanation:

To calculate the adult population, we simply make use of the data available from the BLS.

We can simply make the calculations by adding the number of employed Adult Americans to the number of unemployed adult Americans.

We simply do not have any business with the number not in labor force because they are actually part of those that are employed but are not just in the labor force.

The adult population is thus:

143,929,000 + 11,460,000 =155,389,000

6 0
4 years ago
Select the correct answer. Why do businesses need to achieve points of parity in the market? A. to reduce the loss of customers
nadezda [96]

Businesses need to achieve points of parity in the market because: C. to sell products that are the same as those of competitors.

<u>Explanation</u>:

A point of parity is considered as an important element in the business. It helps in making the consumer to use your brand or product comparing with the product of the competitors.

The point of parity helps in negating the competitor's point of difference. The company can survive in the competitive business only if it follows and covers the point of parity. Point of parity helps to refocus your brand showing that it is good as compared to other competitive brand.

8 0
4 years ago
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In the ____________, households work and receive payment from firms. Group of answer choices financial investment market financi
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In the Labor Market, households work and receive payment from firms.

<u>Explanation:</u>

The skills of the people will be exchanged with the employers for the salaries or wages and this is called as labor market. Any people who is in need of any platform to show their skills and the organisation that is in need of labor are the main elements of the labor system.

The important source of producing any type of goods is labor. It is the labor market that decides the compensation that is to be made to these labors. Thus, in the labor market, the households work and they will receive compensation from the firm for which they work.

6 0
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