The following data pertain to Ronaldo Enterprises:

The following data is available for Oriole Company at December 31, 2020: Common stock, par $10 (authorized 29000 shares) $232000

adell [148]

Answer:

23,125 shares

Explanation:

The computation of the number of outstanding common stock shares is shown below:

= (Common stock ÷ Par value per share) - (Treasury stock ÷ cost per share)

where,

Common stock is $232,000

Par value per share is $10

Treasury stock is $975

And, the cost per share is $15

Now placing these values to the above formula

So, the number of common stock outstanding shares is

= ($232,000 ÷ $10) - ($975 ÷ $15)

= $23,200 - $65

= 23,135 shares

4 0

3 years ago

The cost of direct materials transferred into the Bottling Department of the Mountain Springs Water Company is $918,400. The con

weqwewe [10]

Answer:

Equivalent Unit of Materials=$32

Equivalent Unit of Conversion Costs=$60

Explanation:

Calculation to Determine the direct materials and conversion cost per equivalent unit

Calculation for DIRECT MATERIALS

Using this formula for direct materials

Equivalent Unit of Materials=Cost of direct materials transferred/Total equivalent units for direct materials

Let plug in the formula

Equivalent Unit of Materials=$918,400/28,700 liters

Equivalent Unit of Materials=$32

Calculation for CONVERSION COST PER EQUIVALENT UNIT

Using this formula

Equivalent Unit of Conversion Costs=Conversion cost/Total equivalent units for Conversion

Let plug in the formula

Equivalent Unit of Conversion Costs=$516,000/8,600 liters

Equivalent Unit of Conversion Costs=$60

Therefore the direct materials and conversion cost per equivalent unit will be :

Equivalent Unit of Materials=$32

Equivalent Unit of Conversion Costs=$60

7 0

3 years ago

The wise manager is typically willing to produce a greater quantity of goods when the price for those goods goes up. True False

netineya [11]

Answer:

True

Explanation:

This statement is true because it is in consonance or agreement with the law of supply which states that<em> </em><em>the quantity of a product produced and supplied of a commodity moves in the direction of the price of such commodity, assuming all other factors determining supply remain the same or constant (i.e. ceteris paribus). </em>On the other hand, the quantity of a product produced and offered for sale will reduce as the price of the product falls.

7 0

4 years ago

Maybelline falls down a well and is saved when her neighbor Ruben makes a very daring rescue. Ruben hoists her to safety, and Ma

Nady [450]

Answer:

Yes, the court should enforce Maybelline's promise since Ruben relied on it. Maybelline offered Ruben the money not once, but twice, so Ruben had sufficient reasons to believe that she would fulfill her promise. Ruben suffered since she didn't fulfill her promise, so the court should rule in his favor.

8 0

3 years ago

Oriole Company retires its delivery equipment, which cost $53,990. Accumulated depreciation is also $53,990 on this delivery equ

Aleksandr [31]

Answer:

Please see the answer below:

Explanation:

(a)

Debit: Accumulated Depreciation $53,990

Credit: Delivery Equipment $53,990

To record disposal of delivery equipment.

(b)

Debit: Accumulated Depreciation $37,080

Debit: Loss $16,910

Credit: Delivery Equipment $53,990

To record Loss on disposal of Delivery Equipment.

3 0

3 years ago