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Novay_Z [31]
3 years ago
6

On December 1, 2021, Coronado Industries exchanged 48000 shares of its $10 par value common stock held in treasury for a used ma

chine. The treasury shares were acquired by Coronado at a cost of $45 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $60 per share (the shares were originally issued at $35 per share). As a result of this exchange, Coronado's total stockholders' equity will increase by
Business
1 answer:
Romashka-Z-Leto [24]3 years ago
4 0

Answer:

$2,880,000

Explanation:

Calculation to determine what Coronado's total stockholders' equity will increase by

Increase in total stockholders' equity =[(48000*45)-(48000 * (60-45))]

Increase in total stockholders' equity =$2,160,000+$720,000

Increase in total stockholders' equity =$2,880,000

Therefore the total stockholders' equity will increase by $2,880,000

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Jamie is saving for a trip to Europe. She has an existing savings account that earns 2 percent annual interest and has a current
Alona [7]

Answer:

forgo interest = $30

interest = $75

Explanation:

given data

annual interest = 2%

current balance = $4,500

borrow = $1,500

annual interest rate = 5 percent

to find out

how much interest would she forgo and how much will she pay in interest

solution

first we get here Forgo interest that is here

forgo interest = withdrawal amount × interest rate ..........................1

put here value we get

forgo interest = $1500 × 2%

forgo interest = $30

and

now w get here pay in interest that is

interest = amount borrow × interest rate ..........................2

put here value we get

interest = $1500 × 5%

interest = $75

7 0
3 years ago
Sunland Co. at the end of 2017, its first year of operations, prepared a reconciliation between pretax financial income and taxa
Rzqust [24]

Answer:

Deferred Tax Liability= $564,000

Explanation:

The question is to determine the deferred tax liability to recognize by Sunland Co. at the end of the year 2017.

Step 1 :

We determine what the Income tax expense is for the year

Income tax expense= Pretax financial income x Income Tax rate

Income tax expense= $1,410,000 x 0.30 = $423,000

Step 2:

Although we recognized receivables as well as instalmental sales for reporting purposes under the accrual method. However, these will be subject to tax when we decide to recognize it in the future.

As such Deferred tax liability = Future Tax Liability

Deferred Tax liability for Sunland Co= Instalmental Sales x Income tax expense

= $1,880,000 x 0.3= $564,000

4 0
3 years ago
Abramov Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold a
brilliants [131]

Answer:

Option c is correct

$245,680

Explanation:

The total manufacturing cost = $737,040.

Units produced = 22,200

Cost per unit before adjustment for absorbed overhead=

=$737,040./22,200 units

=$33.2 per unit

Cost of goods sold before adjustment for overheads

= (cost per unit × units sold)

= $33.2 × 7,400

= $245,680

3 0
3 years ago
Read 2 more answers
A company with 110,000 authorized shares of $8 par common stock issued 49,000 shares at $13. Subsequently, the company declared
Jet001 [13]

Answer:

$29,400

Explanation:

The company will distribute dividends only to outstanding shares, since the number of outstanding shares is not specified, we should assume that all the 49,000 shares issued are outstanding shares. The company declared a 2% dividend, so we must multiply the current value of the stock times 2% = $30 x 2% = $0.60 per share.

The total amount distributed was 49,000 outstanding shares x $0.60 per share = $29,400

8 0
3 years ago
Sammie is planning a persuasive request. What advice should she follow for the opening of her request? a. Capture the reader's a
Andrei [34K]

Answer:

a. Capture the reader's attention and interest.

Explanation:

To be able to make a request to someone persuasively, , it is very pertinent to lead the person to a point where such person can listen to you. This can only work in a context where you are very efficient in using story telling and other means of interaction that are capable of winning the persona interest and loyalty. Otherwise, you cannot have the person respond to your request.

4 0
3 years ago
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