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Blizzard [7]
2 years ago
15

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 130 shares of its common st

ock on May 1 for $6,500. On July 1, it reissued 65 of these shares at $53 per share. On August 1, it reissued the remaining treasury shares at $48 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2
Business
1 answer:
MakcuM [25]2 years ago
5 0

Answer:

Fortune Company

There is a balance of ($65) in the Paid-in Capital, Treasury Stock account on August 2.

However, this balance will be transferred to the Additional Paid-in Capital account at year-end, since there are no outstanding shares for the Treasury Stock account.

Explanation:

a) Data and Calculations:

May 1 Repurchase of 130 shares (Treasury Stock) = $6,500

July 1 Reissue of 65 shares at $53 per share =          (3,445)

August 1 Reissue of 65 shares at $48 per share =     (3,120)

August 2, Balance in the Paid-in Capital =                     ($65)

b) The Treasury Stock account is a contra Paid-in Capital account which records transactions involving the repurchase and reissue of treasury shares.  Treasury shares represent the company's own shares which are repurchased from its investors.

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QveST [7]

Answer:

Initial Invest= 630,000

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NPV= 620,218-630,000= -9,781

Explanation:

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Maurinko [17]

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Based on the scenario that is being described, Bing can immediately sue for breach of contract. Breaching a contract is when one party in a binding agreement fails to deliver according to the terms of the agreement. When Dill made an anticipatory repudiation, he basically stated that he does not intend to live up to the obligations of the contract that he had agreed to, therefore breaching the contract and becoming liable.

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3 years ago
which of the following economic activities would be included in u.s. gross domestic product (gdp)? group of answer choices illeg
kolbaska11 [484]

Pure services, such as haircuts is the economic activity that would be included in the U.S. gross domestic product (GDP).

GDP does not reflect illicit or covert economic activity. This implies that only pure services like haircuts can be included in GDP. Personal consumption, corporate investment, government spending, and net exports are the four main components of the gross domestic product. GDP measures the nation's annual total economic production.

Typically, economists concentrate on the ideal GDP growth rate, which is generally accepted to be between 2% and 3% annually. When a nation's GDP is increasing at this rate, it typically experiences economic growth without the drawbacks of high inflation. A country's GDP may vary as per it's population size and availability of resources.

To know more about gross domestic product (GDP), refer to the following link:

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1 year ago
A common resource is: a. a good that, when used by one person, leaves less for everyone else. b. likely to be overutilized. c. r
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d: All of the answers are correct

Explanation:

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What factor most commonly influences a firm's decision about whether to negotiate with several vendors at once
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