DO

A company resells 10,000 shares of treasury stock for $22 per share. The stock was purchased in a previous year for $18 per shar

lys-0071 [83]

Answer:

$0, income statement s not affected.

Explanation:

The purchase and resale of treasury stock does not affect the income statement. When a company's treasury stock is resold, additional paid-in capital increases (if the stock were sold at a price above cost) or decreases (if the stock were sold at a price below cost).

5 0

3 years ago

Which of the following statements is not a difference between business markets and consumerâ€‹ markets?A. Buyers face more compl

marusya05 [52]

Answer:

E : the market is very small and limited

Explanation:

The statement that the market is very small and limited is not a difference between business markets and consumer markets as the real difference is :

Business market larger in size :

If we talk from a Marketing Perspective point of view it Innovates through technological push and fanatics-breakthroughs which result in a rapid increase in the number of customers in the market and as the size of the market becomes larger.

3 0

3 years ago

Does geico provide roadside assistance even if you don't have coverage

iVinArrow [24]

No, Geico offers free towing for customers who have the company’s roadside assistance coverage

8 0

3 years ago

In year 2, Sammi Corp. changes its inventory method from FIFO to the weighted-average method. Under the weighted-average method,

Dima020 [189]

Answer:

Two adjustments must be made to year 1's financial statements:

The income statement must be adjusted since net income increased because cost of goods sold decreased.
The balance sheet must be adjusted since retained earnings will increase because net income increased.

Explanation:

The retrospective approach hides any changes with the accounting methods, and shows the financial statements as if the new accounting method was used all along and there was no error or change.

6 0

3 years ago

Presented below are incomplete manufacturing cost data.

Usimov [2.4K]

Answer and Explanation:

The computation of the missing amount is as follows

As we know that

Total manufacturing costs is

= Direct materials cost + Direct labor cost + Factory overhead cost

And,

Cost of goods manufactured is

= Total manufacturing costs + Beginning work in process - ending work in process

Based on this, the calculation is as follows

 Direct materials Direct labor Factory Total

 overhead manufacturing costs 

1. $44,000 $62,200 $51,100 $157,300

2. $78,500 $77,500 $144,000 $300,000

3. $58,600 $138,400 $114,000 $311,000

Now

Total Manufacturing Costs Beg. Work End. Work Cost of Goods

in Process in Process Manufactured

1. $157,300 $122,000 $85,200 $194,100

2. $300,000 $123,400 $99,800 $323,600

3. $311,000 $465,000 $57,000 $719,000

4 0

3 years ago