Answer:
The correct answer is letter "C": This is not plagiarism.
Explanation:
Plagiarism is the act of taking someone else's work and make it appear as if it belongs to another party. It also implies paraphrasing words from an article or changing the order of some of the words to give it a genuine look. Plagiarism is considered a misdemeanor but can be penalized.
The student's version in the example is not plagiarism because the source from where the student takes the reference of the elaboration theory is mentioned:
They soon switched to a model based on the elaboration theory (Reigeluth, 1999).
Thus, the student is recognizing that the conclusion was taken from another resource. The rest of the student's paragraph is related to another field of study - videogames - making a unique version only relating the theory.
Common Stock, 5,000,000 shares authorized, 2,000,000 shares outstanding $10,000,000
Paid-in Capital in Excess of Par - Preferred Stock $200,000
Paid-in Capital in Excess of Par - Common Stock $27,000,000
Retained Earnings $4,500,000
The following transactions affected stockholders' equity during 2018.
Jan. 1 - 30,000 shares of preferred stock issued at $22 per share.
Feb. 1 - 100,000 shares of common stock issued at $20 per share.
June 1 - Declared a 5% stock dividend on the outstanding common stock when the stock is selling for $25 per share.
June 20 - Issued the stock dividend declared on June 1.
July 1 - 30,000 shares of common treasury stock purchased at $10 per share.
Sept. 15 - 10,000 shares of treasury stock reissued at $11 per share.
Dec. 31 - The preferred dividend is declared, and a common dividend at $0.50 per share is declared.
Dec. 31 - Net income is $2,100,000.
Required:
1. Prepare Journal Entries to Record the Transactions.
2. Prepare the stockholders' equity section for Hatch Company at December 31, 2018. Show all supporting computations.
1. The preparation of the journal entries to record the stock transactions for the year is as follows:
Jan. 1, 2018: Debit Cash $660,000
Credit Preferred Stock $600,000
Credit Additional paid-in capital-Preferred Stock $60,000
Feb. 1, 2018: Debit Cash $2,000,000
Credit Common Stock $500,000
Credit Additional paid-in capital-Common Stock $1,500,000
June 1, 2018: Debit Retained Earnings $2,625,000
Credit Stock Dividend Distributable $2,625,000
June 20 Debit Stock Distributable $2,625,000
Credit Common Stock $525,000
Credit Additional paid-in capital-Common Stock $2,100,000
July 1, 2018: Debit Treasury Stock $150,000
Debit Additional paid-in capital- Common Stock $150,000
Credit Cash $300,000
Sept. 15, 2018: Debit Cash $110,000
Credit Treasury Stock $50,000
Credit Additional paid-in capital- Common Stock $60,000
Dec. 31, 2018: Debit Dividends: Preferred Stock $3,600,000
Debit Common Stock $1,092,500
Credit Dividends Payable $4,692,500
Dec. 31 Debit Income Summary $2,100,000
Credit Retained Earnings $2,1000,000
2. The Stockholders' Equity Section of Hatch Company's Balance Sheet at December 31, 2018, is as follows:
8%, $20 par value Preferred Stock:
Authorized stock, 1,000,000 shares
180,000 shares, Issued and Outstanding $3,600,000
Additional paid-in capital - Preferred Stock $260,000
Common Stock, $5 par value:
Authorized stock, 5,000,000 shares
2,215,000 shares outstanding $11,075,000
Additional paid-in capital- Common Stock $30,810,000
Treasury Stock (20,000 shares) ($100,000)
Retained Earnings $717,500
Supporting Calculations:
180,000 shares, Issued and Outstanding = $3,600,000 (3,000,000 + 600,000)
Additional paid-in capital - Preferred Stock $260,000 ($200,000 + $60,000)
Common Stock, $5 par value:
Authorized stock, 5,000,000 shares
2,215,000 shares outstanding = $11,075,000 ($10m + $500 + $525 + $50)
Additional paid-in capital- Common Stock = $30,810,000 ($27m + 1.5m + $2.1m - $150 + $60)
Treasury Stock = $100,000 ($150,000 - $50,000)
Retained Earnings = $717,500 ($4,500,000 + $2,100,000 - $2,625,000 - $4,692,500)
Data and Calculations:
Capital stock:
8%, $20 par value Preferred Stock:
Authorized stock, 1,000,000 shares
150,000 shares, Issued and Outstanding = $3,000,000
Additional paid-in capital - Preferred Stock $200,000
Common Stock, $5 par value:
Authorized stock, 5,000,000 shares
2,000,000 shares outstanding = $10,000,000
Additional paid-in capital- Common Stock = $27,000,000
Retained Earnings = $4,500,000
Transactions Analysis:
Jan. 1, 2018: Cash $660,000 Preferred Stock $600,000 Additional paid-in capital-Preferred Stock $60,000
Feb. 1, 2018: Cash $2,000,000 Common Stock $500,000 Additional paid-in capital-Common Stock $1,500,000
June 1, 2018: Retained Earnings $2,625,000 Stock Dividend Distributable $2,625,000 (2,000,000 + 100,000 x 5%) 105,000 shares at $25 per share
June 20, 2018: Stock Distributable $2,625,000 Common Stock $525,000 Additional paid-in capital-Common Stock $2,100,000
July 1, 2018: Treasury Stock $150,000 Additional paid-in capital- Common Stock $150,000 Cash $300,000
Sept. 15, 2018: Cash $110,000 Treasury Stock $50,000 Additional paid-in capital- Common Stock $60,000
Dec. 31, 2018: Retained Earnings: Preferred Stock Dividend $3,600,000 (180,000 x $20) Common Stock Dividend $1,092,500 (2,185,000 x $0.50) Dividends Payable $4,692,500
Dec. 31 Income Summary $2,100,000 Retained Earnings $2,1000,000
Learn more about recording stock transactions here: brainly.com/question/25819234
Answer:
Explanation:
Date Accounts and explanations Debit ($) Credit ($)
Jan. 1, 2018 Cash (39,900*$23 per share) 917,700
7% Preferred stock (39,900 shares * $20 per share) 798,000
Paid-in capital in excess of par - Preferred stock (39,900 shares * $3 per share) ($23 - $20) 119,700
(To record the issue of preferred shares with premium for cash)
Feb. 1, 2018 Cash (53,400*$21 per share) 1,121,400
Common stock (53,400 shares * $5 per share) 267,000
Paid-in capital in excess of par - Common stock (53,400 shares * $16 per share) ($21 - $5) 854,400
(To record the issue of preferred shares with premium for cash)
June. 1, 2018 Common stock (2,127,000 shares + 53,400 shares = 2,180,400)*$5 per share 10,902,000
Common stock (2,180,400 shares * 2 * $2.5 per share) 10,902,000
(To record stock split of 2 shares issued for every one share held)
July. 1, 2018 Treasury stock (32,000 shares * $10 per share) 320,000
Cash 320,000
(To record the purchase of treasury stock by cash)
Sept. 15, 2018 Cash 122,400
Treasury stock (10,200 shares * $10 per share) 102,000
Paid-in capital in excess of par - Treasury stock (10,200 shares * $2 per share) ($12 - $10) 20,400
Dec. 31, 2018 Income summary (Net income) 2,182,000
Retained earnings 2,182,000
(To record the net income at the end of the year)
Dec. 31, 2018 Retained earnings 1,348,380
Preferred dividends ($3,046,000 + $798,000)*7/100) 269,080
Common dividend (see note) (2,158,600*$0.5 per share) 1079300
(To record the declaration of dividends)
Working note:
Particulars In shares
Total shares issued 2,180,400
Less: Treasury shares 32,000
Add: Reissue of treasury shares 10,200
Total share to be accounted 2,158,600
Note: For stock split, no journal entry is required as there will be no change in the total value but only the number of shares will increase and per share will decrease keeping the total value same. Only memorandum entries are prepared.
The common stock dividend per share is confusing with another symbol whether it is $5 per share or $0.5 per share, so it is assumed as $0.5 per share is declared as dividend for common stock.
Note: Since no question is asked in this post, it is assumed that journal entries are required to record transactions that occurred during 2018.
b. If an employee's wages are reduced by $4,000 and the employee is in the 15% marginal tax bracket, the employee would benefit from the offer.
c. If an employee's wages are reduced by $6,000 and the employee is in the 35% marginal tax bracket, the employee would benefit from the offer.
d. a., b., and c.
e. None of these.
Answer:
d. a., b., and c.
Explanation:
Reduction in pay (a) Marginal tax (b) Reduction in tax (c = a x b)
A. $5000 0.28 $1,400
B. $4000 0.15 $600
C. $6000 0.35 $2100
Reduction in After-tax Income (d = a - c)
A. $3,600
B. $3,400
C. $3,900
this means that all the above a, b, and c options are correct because in all the three cases, the reduction in after-tax pay of the employee will be less than $4000 value of the nontaxable insurance premium to be paid by the employer which would ultimately benefit the employee.
Answer:
Selling price = $4.75
Variable costs= $2.00
Contribution margin ratio = contribution margin / sale
= ($4.75 - $2.00) / $4.75 = 57.8%
Break even sale in dollars = fixed costs / contribution margin ratio
= $1100 / 57.8% = $1903
Breakeven Sales = $1903
Explanation:
B. The "Special Statement for Uncovered Options Writers" must be provided before executing the transaction
C. The "Options Disclosure Document" must be provided before executing the transaction
D. The representative must open a separate options account for the customer and segregate the resulting naked options positions
Answer:
The correct answer is letter "B": The "Special Statement for Uncovered Options Writers" must be provided before executing the transaction.
Explanation:
A naked call is a type of strategy options traders use when writing a call option without owning the underlying assets. For this to be possible, the trader must sign an options agreement and the Registered Options Principal (ROP) must approve the account so the trader can write naked options.
Before proceeding the "Special Statement for Uncovered Options Writers" must be provided.
Answer:
$1,085,000
Explanation:
The computation of the ending account receivable balance is shown below:
= Accounts receivable balance, 1/1/2016 + credit sales - sales returns - written off amount - Collections from customers
= $650,000 + $2,700,000 - $75,000 - $40,000 - $2,150,000
= $1,085,000
Since we have to find out the account receivable balance before allowances so we do not considered it.
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Answer: Coach
Explanation:
Like a coach does in sports, so does a coach do in business. They work closely with employees so that they can bring out the best in them by motivating them, helping them develop their skills and providing feedback and reinforcement so that they can know where to improve upon.
They can either be peers in the company or they can be managers but the bottom-line is that they aim to help employees do their best so that the company benefits as well.