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Dahasolnce [82]
2 years ago
3

Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,600,000 shares issued; Additional Paid-i

n Capital, $16.40 million; Retained Earnings, $9.40 million; and Treasury Stock, 44,000 shares, $0.968 million. Prepare the stockholders’ equity section of the balance sheet. (Amounts to be deducted should be indicated by a minus sign. Enter your answer in dollars, not millions (i.e, $5.5 million should be entered as 5,500,000).)

Business
1 answer:
densk [106]2 years ago
5 0

Answer:

Explanation:

The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.  

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

And, the ending balance of the common stock = Beginning balance of common stock + issued shares  

The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:

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ella [17]

Answer:

C. It replaces human altogether

Explanation:

The current global outlook and focus on robotic sciences indicates that robots have entered into our daily lives. With the emergence of artificial intelligence and IoT internet of things it is evident that fourth industrial revolution would result in replacing humans altogether in almost every profession and aspect of life.

4 0
2 years ago
At the beginning of the period, a company reported $100,000 of common stock, $10 par; and $50,000 paid-in capital in excess of p
Romashka-Z-Leto [24]

Answer:

$50,000

Explanation:

To calculate the amount of cash that the company received from selling common stock during the year 2 we can use the following formula:

cash received = (common stock year 2 - common stock year 1) + (paid in capital in excess of par year 2 - paid in capital in excess of par year 1) =  

cash received = ($110,000 - $100,000) + ($90,000 - $50,000) = $10,000 + $40,000 = $50,000

3 0
2 years ago
Suppose that when the price of a 16 oz. to-go cup of gourmet coffee is $4.25, students purchase 750 cups per day. If the price d
elixir [45]

Answer:

d. We do not have enough information to answer this question

Explanation:

We could say that maybe if the price lowers by pure law of supply and demand the consumers will consume more cups of coffe but for a more complete answer we need the elasticity of demand of that good (coffe), to be able to know in what quantity a change in the price would affect the demand and to know if the relation between the price and the units buyed are positive or negativa.

5 0
2 years ago
If a just-in-time purchasing policy is successful in reducing the total inventory costs of a manufacturing company, which of the
gulaghasi [49]

Answer:

Stock out costs increase

Carrying costs decrease

Explanation:

Just in time (JIT) decreases total inventory and increases the number of deliveries made by the company's vendors.

Since the company is going to hold fewer materials and components, then the risk of an stock out increases, resulting in higher stock out costs.

The total inventory will decrease, therefore, the carrying costs will also decrease.

4 0
2 years ago
The standard quantity per unit defines the ________. price that should be paid for each unit of direct materials. total cost of
Vsevolod [243]

Answer:

<u>amount of direct materials</u> that should be used<u> for each unit </u>of finished product including an allowance for normal inefficiencies, such as scrap and spoilage.

Explanation:

the first statement refers to price

and the third to labor

direct Labor hours per unit is called efficiency rate. it is a labor measurement.

stabdard quantity: pounds, liters or units of raw materials including waste to get 1 finished product

6 0
2 years ago
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