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kupik [55]
3 years ago
14

Ceteris paribus, for the owner of a sawmill, lumber and the sawdust that go into particle board are

Business
1 answer:
Katyanochek1 [597]3 years ago
6 0
<span>Ceteris paribus, for the owner of a sawmill, lumber and the sawdust that go into particle board are </span><span>complements in production; by-products. C</span>eteris Paribus<span> is a Latin phrase meaning "all other things remaining equal".  It is commonly used in economics.  </span>
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Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balan
ser-zykov [4K]

Answer:

A) Entering the January 1 Balances in T-Accounts for ther Stockholders Equity Accounts Listed:

                                               Common Stock

                Jan. 1 Bal.                         $7,340,000

                  Apr. 10                                 $1,420,000

                   Aug. 15                         $262,800

                   Dec. 31 Bal                         $9,022,800

          Paid-In Capital in Excess of Stated Value - Common Stock

                         Jan. 1 Bal.            $844,100

                            Apr. 10            $213,000

                             July 5             $78,840

                         Dec. 31 Bal            $1,135,940

                                                Retained Earnings

     Dec 31                $379,723     Jan. 1 Bal.     $33,388,000

                                                            Dec 31    $1,131,500

                                                           Dec. 31 Bal     $34,519,500

                                                  Treasury Stock

Jan. 1 Bal.         $341,640           June 6 $341,640

Nov 23                 $504,000  

Dec. 31 Bal         $504,000  

                  Paid-In Capital from Sale of Treasury Stock

                                 June 6                 $228,000

                                   Stock Dividends Distributable

Aug 15                     $262,800        July 5 $262,800

                                    Stock Dividends

July 5                     $341,640        Dec 31 $341,640

                                    Cash Dividends

Dec 28                    $38,083              Dec 31                         $38,083

B) Preparing the Journal Entries to Record the Transactions:

Date             General Journal                     Debit              Credit

Jan 22 Cash Dividends Payable

           [(367,000 shares - 22,800 shares) * $0.09]                       $30,978  

                                 Cash                                                         $30,978

-Look below for more explanation

Explanation:

A) Entering the January 1 Balances in T-Accounts for ther Stockholders Equity Accounts Listed:

                                               Common Stock

                Jan. 1 Bal.                         $7,340,000

                  Apr. 10                                 $1,420,000

                   Aug. 15                         $262,800

                   Dec. 31 Bal                         $9,022,800

          Paid-In Capital in Excess of Stated Value - Common Stock

                         Jan. 1 Bal.            $844,100

                            Apr. 10            $213,000

                             July 5             $78,840

                         Dec. 31 Bal            $1,135,940

                                                Retained Earnings

     Dec 31                $379,723     Jan. 1 Bal.     $33,388,000

                                                            Dec 31    $1,131,500

                                                           Dec. 31 Bal     $34,519,500

                                                  Treasury Stock

Jan. 1 Bal.         $341,640           June 6 $341,640

Nov 23                 $504,000  

Dec. 31 Bal         $504,000  

                  Paid-In Capital from Sale of Treasury Stock

                                 June 6                 $228,000

                                   Stock Dividends Distributable

Aug 15                     $262,800        July 5 $262,800

                                    Stock Dividends

July 5                     $341,640        Dec 31 $341,640

                                    Cash Dividends

Dec 28                    $38,083              Dec 31                         $38,083

B) Preparing the Journal Entries to Record the Transactions:

Date             General Journal                     Debit              Credit

Jan 22 Cash Dividends Payable

           [(367,000 shares - 22,800 shares) * $0.09]                       $30,978  

                                 Cash                                                         $30,978

Apr 10            Cash (71,000 shares * $23)        $1,633,000  

                            Common Stock                                             $1,420,000

                       (71,000 shares * $20)

                  Paid-In Capital in Excess                                               $213,000

            of Stated Value - Common Stock  

                  [71,000 shares à ($23 - $20)]

June 6     Cash (22,800 shares * $27)                $615,600  

                   Treasury Stock (22,800 shares * $17)                        $387,600                                        

                        Paid-In Capital from Sale of

                 Treasury Stock [22,800 shares * ($27 - $17)]     $228,000

July 5 Stock Dividends [(367,000                     $341,640

              shares + 71,000 shares) * 3% * $26]

Stock Dividends Distributable (13,140 shares * $20)                 $262,800

                   Paid-In Capital in Excess of Stated

            Value Common Stock [13,140 shares * ($26 - $20)]  $78,840

Aug 15                 Stock Dividends Distributable $262,800  

                                          Common Stock                                $262,800

Nov 23         Treasury Stock (28,000 shares * $18)    $504,000  

                                            Cash                                              $504,000

Dec 28           Cash Dividends [(367,000 shares

                         + 71,000 shares + 13,140                   $38,083  

                         shares - 28,000 shares) * $0.09]

                                 Cash Dividends Payable  $38,083

Dec 31                     Income Summary               $1,131,500  

                                         Retained Earnings                        $1,131,500

Dec 31                        Retained Earnings               $379,723  

                                         Stock Dividends                                $341,640

                                             Cash Dividends                         $38,083

C) Preparing a Retained Earnings Statement for the Year Ended December 31, 2015:

                                 MORROW ENTERPRISES INC.

                                 Retained Earnings Statement

                           For the Year Ended December 31, 2015

Retained earnings, January 1, 2015                                   $33,388,000

         Net Income                                             $1,131,500  

          Less: Cash dividends                          ($38,083)  

Stock dividends                                               ($341,640)  

Increase in retained earnings                                                   $751,777

Retained earnings, December 31, 2015                             $34,139,777

D) Preparing the Stockholder's Equity Section of the December 31, 2015, Balance Sheet:

                                          Stockholdersâ Equity

Paid-in capital:  

Common stock, $20 stated value

(500,000 shares authorized, 451,140                 $9,022,800

shares issued)

Excess of issue price over stated value         $1,135,940  

From sale of treasury stock                              $228,000  

Total paid-in capital                                                             $10,386,740

Retained earnings                                                                     $34,139,777

Total                                                                                    $44,526,517

Deduct treasury stock 28,000 shares at cost)  $504,000

Total stockholdersâ equity  $44,022,517

5 0
3 years ago
The stock of Big Joe's has a beta of 1.40 and an expected return of 12.10 percent. The risk-free rate of return is 4.6 percent.
leonid [27]

Answer:

5.403%

Explanation:

Calculation for the expected return on the market

Using this formula

Expected return =(Expected return-Risk-free rate of return)/Stock beta +Risk-free rate of return

Where,

Expected return=12.10%

Risk-free rate of return=4.6%

Stock beta =1.40%

Let plug in the formula

Expected return =(0.121-0.046)/0.014+0.046

Expected return =0.075/0.014+0.046

Expected return=5.357+0.046

Expected return =5.403%

Therefore the expected return on the market will be =5.403

7 0
3 years ago
Marx and Springsteen provides​ hair-cutting services in the local community. In February, the business cut the hair of 200 ​clie
ozzi

Answer:

Cost of service to provide one haircut is $ 11.04

Explanation:

Hair saloon expense: $500

Building rent expense: $1,458

Utilities expense: $200

Depreciation expense --- Equipment: $50

Total operating cost = Hair saloon expense + Building rent expense + Utilities expense + Depreciation expense

= $500 + $1,458 + $200 + $50

= $ 2,208

Total hair cuts = 200

Therefore, cost per hair cut = Total operating cost ÷ Total hair cuts

= $2,208 ÷ $200

=  $ 11.04

5 0
3 years ago
Suppose a starbucks tall latte cost $4.00 in the united states, 5.00 euros in the euro area and $2.50 australian dollars in aust
Andrews [41]

Answer:B

Explanation:

5 0
3 years ago
Oucation 6 of 25
Vladimir79 [104]

Answer:

A. How are goods and services to be distributed?

Explanation:

After the manufacturing of the goods, the process of distribution proceeds. In this process, the goods and services produced are distributed from the producers to the consumers. Transportation, packaging, storage, and advertising are some of the processes that lie between the production and distribution of the products.

According to the given options, the basic question to be asked related to the distribution of the produced goods is option A. All the other three questions belongs to the production stage.

4 0
2 years ago
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