Reference no: EM132892522
Question - The JEM Company has been in operation for over 40 years and has 20,000 shares of $100 par-value common stock authorized, of which 12,000 shares have been issued. The market value of the stock throughout 2014 until late December, was $107.50 per share. On Sept, 1, 2014, the board of directors declared a 20% (small) stock dividend, distributable in October. The accounts showed the following balances immediately prior to the declaration of the dividend:
Common Stock = $1,200,000
Additional contributed capital = $90,000
Retained Earnings (includes net income earned through August 31) = $700,000
When distributed in October, the stock dividend included fractional share warramts for 600 shares. On December 15, 90% of the warrants were exercised; the remaining warrants were not exercised until 2015.
Given that the JEM Company reacquired 1,800 shares of its own stock for $106 per share on December 20, 2014, and that the company had no more net income for the period September through December, what is the unappropriated, retained earnings amount and how do you calculate it?
|
What are ideal standards
: What are ideal standards? What are currently attainable standards? Explain which standard is usually adopted and why
|
|
Journalize the sale transaction
: Victory Corporation sold 400 shares of treasury stock for $45 per share. The cost for the shares was $35. Journalize the sale transaction
|
|
What amount will extinguish the loan today
: Isaac borrowed $3,700 at 11.2% compounded quarterly 3.5 years ago. One year ago he made a payment of $1,900. What amount will extinguish the loan today
|
|
What is the total cost of the departmental work in process
: ?Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the departmental work in process inventory
|
|
What is the unappropriated, retained earnings amount
: Given that the JEM Company reacquired 1,800 shares of its own stock for $106 per share on December 20, 2014, what is unappropriated, retained earnings amount
|
|
Management and employees lead to formation of labor unions
: Issues and disagreements between management and employees lead to formation of labor unions.
|
|
Compute taxable income and income taxes payable
: Swifty's pretax financial income for 2020 is $280,000, and the tax rate is 30% for all years. Compute taxable income and income taxes payable
|
|
Calculate the break-even in both dollars and units for 2015
: Chloe Enterprises operates a single-product entity. Data relating to the product for 2015 were as follows.
|
|
Which alternative would yield the best results for business
: Assuming the costs of each alternative are similar and that only one can be chosen, which alternative would yield the best results for the business
|