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Gelneren [198K]
2 years ago
7

The financial statements for Highland Corporation included the following selected information: Common stock $ 1,600,000 Retained

earnings $ 900,000 Net income $ 1,000,000 Shares issued 90,000 Shares outstanding 80,000 Dividends declared and paid $ 800,000 The common stock was sold at a price of $30 per share. What is the amount o f additional paid-in capital?
What was the amount of retained earnings at the beginning of the year?

How many shares are in treasury stock?

Business
1 answer:
marin [14]2 years ago
3 0

Answer:

Please see attachment .

Explanation:

Please see attachment .

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Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda issued $30,000,000 of five-year, 10% bonds
ahrayia [7]

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $32,433,150  

     To Premium on Bonds Payable $2,433,150  

      To Bonds Payable $30,000,000

(Being Sale of bonds is recorded)

2. Interest Expense Dr, $1,297,326

($32,433,150 × 4%)  

Premium on Bonds Payable Dr, $202,674  

   To Cash $1,500,000

($30,000,000 × 5%)

(Being First semiannual interest payment, including amortization of premium is recorded)

3. Interest Expense Dr, $1,289,219

($32,433,150 - $202,674) × 4%

Premium on Bonds Payable Dr, $210,781

      To Cash $1,500,000

(Being second semiannual interest payment, including amortization of premium is recorded)

($30,000,000 × 5%)

b. Annual interest paid             $3,000,000  

Less: Premium amortized          $364,094

($202,674 + $161,420)

Interest expense for first year    $2,635,906

7 0
2 years ago
To be competitive, ____________ recommended that American firms adopt a new management style that was a hybrid of the approaches
kakasveta [241]

Answer:

The correct answer is letter "C": William Ouchi, Theory Z.

Explanation:

American professor William Ouchi (born in 1943) proposed the "Theory Z", first described in his book "<em>Theory Z: How American Management Can Meet the Japanese Challenge</em>" which is an approach that explains how firms should develop a strong company philosophy and culture and consensus in decisions.  

Theory Z aims to employee development, as well, by concerning about their well-being, making them generalists instead of specialists, promoting individual responsibility, and monitoring them informally but with formal measures.

6 0
2 years ago
Select the correct answer from the drop-down menu. A local carbonated beverage business enters a foreign market. What problems c
Nadya [2.5K]

Answer:

Advertisements and promotional schemes have to be introduced to make people aware of their product.

Explanation:for new business to survive in a foreign country is not always easy so, there must creat more awareness for people to know the and the product they are offering and this can be done by advertising and promotions

5 0
2 years ago
Read 2 more answers
Newton, Inc. just paid an annual dividend of $0.95. Their dividends are expected to increase by 4% annually. Newton Company stoc
Eduardwww [97]

Answer:

The required rate of return is 12.2%

Explanation:

Dividend growth model is used to calculate the price of the stock based on the dividend, its growth and required rate of return.

Formula to calculate the price

Price = Dividend / ( Required rate of return - Growth rate )

P = D / ( r - g)

P = $11.54

D = $0.95

g = 4%

Now placing the given values in the formula

$11.54 = $0.95 / ( r - 4% )

r - 4% = $0.95 / $11.54

r - 4% = 8.2%

r = 8.2% + 4%

r = 12.2%

8 0
2 years ago
On August​ 31, 2018, Allright Services received​ $3,500 in advance of performing the service. Which journal entry is needed to r
vagabundo [1.1K]

Answer:

Explanation:

In the given transaction, the amount is received in advance for performing the service, so the journal entry would be

Cash A/c Dr                       $3,500

  To Unearned revenue                    $3,500

(Being amount is received in advance)

For recording the advance transactions, we have to debit the asset account i.e cash account and credit the liability account i.e. unearned revenue account.  

5 0
2 years ago
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