Use the following to answer questions 23 - 26 BRT Corporation was organized on January 3,...

Use the following to answer questions 23 - 26

BRT Corporation was organized on January 3, 20XE. The firm was authorized to issue 100,000,000 shares of $0.10 par common stock. During 20XE, BRT had the following transactions relating to shareholders' equity:

Per share Shares Total

Issued common stock (January) $10.00 300,000

Issued common stock (July) $14.00 200,000

Outstanding shares 484,300

Dividends declared $0.30

Treasury stock $13.50

Net income for the year $753,200

23. $__________________What is the additional paid-in capital at the end of 20XE?

24. $__________________What is total Paid-in capital at the end of 20XE?

25. $__________________What is total retained earnings at the end of 20XE?

26. $__________________What is total stockholders’ equity at the end of 20XE?

Expert Solution

	Particulars	Common Stock $0.10 Par shares		Additional Paid in Capital	Retained Earnings	Treasury Stock	Total Stock holders equity
January	Issues of common stock 300000 Shares at $10 per Share (January)	300,000 Shares	30,000	2,970,000
July	Issues of common stock 200000 Shares at $14 per Share (July)	200,000 Shares	20,000	2,780,000
	Treasury Stock Purcahsed at $13.50	-15,700 Shares				(211,950)
	Net income for the year				753,200
	Dividend Declared $ 0.30 per share				(145,290)
	Balance at the year	484,300 shares	50,000	5,750,000	607,910	(211,950)	6,195,960

ekkarill92 answered 1 year ago

Use the following information to answer questions 1-5. The Aggie Graphics Company was organized on January...

Use the following information to answer questions 1-5. The Aggie Graphics Company was organized on January 1, 2017. The trial balance before adjustment at December 31, 2017 contained the following account balances: Cash $9,500 Accounts Receivable 4,000 Prepaid Insurance 1,800 Equipment 45,000 Accumulated Depreciation 4,500 Accounts Payable 3,500 Notes Payable 18,000 Common Stock 5,000 Retained Earnings 12,000 Dividend 2,000 Graphic Fees Earned 52,100 Consulting Fees Earned 5,000 Salaries Expense 30,000 Supplies Expense 2,700 Advertising Expense 1,900 Rent Expense 1,500 Utilities...

Use the following data to answer Questions 25 and 26: A general reaction written as A...

Use the following data to answer Questions 25 and 26: A general reaction written as A + 2B → C + 2D is studied and yields the following data: [A]0 [B]0 Initial Δ[C]/Δt 0.150 M 0.150 M 8.00 × 10–3 mol/L·s 0.150 M 0.300 M 1.60 × 10–2 mol/L·s 0.300 M 0.150 M 3.20 × 10–2 mol/L·s 25. What is the numerical value of the rate constant?

Use the following data to answer Questions 25 and 26: A general reaction written as...

Use the following data to answer Questions 25 and 26: A general reaction written as A + 2B ® C + 2D is studied and yields the following data: [A]0 [B]0 Initial D[C]/Dt 0.150 M 0.150 M 8.00 ´ 10–3 mol/L·s 0.150 M 0.300 M 1.60 ´ 10–2 mol/L·s 0.300 M 0.150 M 3.20 ´ 10–2 mol/L·s 25. What is the numerical value of the rate constant? 26. Determine the initial rate of B consumption (D[B]/Dt) for the first...

Use the following information to answer questions 23 to 30. In order to ascertain clarity on...

Use the following information to answer questions 23 to 30. In order to ascertain clarity on how much cash Musa (Pty) Ltd needs each month, complete the cash budget using the information below. Sales (in rand) are as follows: :June July August September October November 950 000 1 100 000 1 300 000 1 450 000 1 600 000 1 850 000 Of the company’s sales, 40% are done in cash. Credit sales are collected as follows:  40% during...

Use the following information to answer questions 26 to 29. In October 1998, 30% of employed...

Use the following information to answer questions 26 to 29. In October 1998, 30% of employed adults were satisfied with their chances for promotion. A human resource manager wants to determine if this percentage has changed significantly since then. She randomly selects 280 employed adults and find that 112 of them are completely satisfied with their chances for promotion. Is there sufficient evidence to conclude that the percentage of employed adults satisfied with their chances for promotion is significantly different...

Use the information below for ABC Co. to answer the following questions (#15 – 26). Balance...

Use the information below for ABC Co. to answer the following questions (#15 – 26). Balance Sheet December 31 2005 2004 Assets Cash $ 20,000 $ 10,000 Accounts receivable 160,000 110,000 Inventories 80,000 50,000 Prepaid Rent 15,000 10,000 Investments 100,000 75,000 Plant assets 210,000 250,000 Accumulated depreciation (65,000) (60,000) Total $520,000 $445,000 Liabilities and Stockholders' Equity Accounts payable $ 50,000 $ 40,000 Interest payable 20,000 5,000 Income tax payable 5,000 10,000 Note payable 130,000 140,000 Common stock 155,000 100,000 Retained earnings 160,000 150,000 Total $520,000 $445,000 Income Statement For the Year Ended December 31, 2005 Sales $800,000 Cost of goods sold 480,000 Gross Profit 320,000 Operating expenses (including Depreciation Expense) 120,000 Interest expense 20,000 Income tax expense 25,000 Total 165,000 Income before Gains...

Use the following information for Questions 23-24: You are the manager of Lobo Corporation and you...

Use the following information for Questions 23-24: You are the manager of Lobo Corporation and you must decide between two mutually exclusive projects.The following information is available for the projects: Project A Project B Annual Revenues 985,000 725,000 Annual Operating Costs 360,000 400,000 Initial Investment 1,800,000 800,000 Salvage Value - - Project Life 5 5 NPV ??? 497,725 IRR 0.22 0.3 Required: Compute the NPV for Project A.

use the following information to answer questions 1,2 and 3 geneva steel corporation produces large sheets...

use the following information to answer questions 1,2 and 3 geneva steel corporation produces large sheets of heavy gauge steel. the company showed the following amounts relating to its production for the year just completed direct materials used in production $110,000 direct labour costs of the year $55,000 work in process, beginning $22,000 finished goods, beginning $45,000 costs of goods available for sale $288,000 costs of goods sold $238,000 work in process, ending $16,000 1. what was the balance of...

Answer questions 22-23 from the following information. On January 1, Lessee leases equipment with a useful...

Answer questions 22-23 from the following information. On January 1, Lessee leases equipment with a useful life of 5 years for a three-year lease term. Payments of $35,000 are due at the beginning of each year. The incremental borrowing rate is 6%. The present value of the payments is $98,000. What is lease expense for the first year? What is the amortization of the ROU asset for the first year?

Use the following to answer questions 25-26: Rams Company needs 20,000 units of a certain part...

Use the following to answer questions 25-26: Rams Company needs 20,000 units of a certain part to use in its production cycle. If Rams buys the part from Steelers Company instead of making it, Rams cannot use the excess capacity for another manufacturing activity. Forty percent of the fixed overhead will continue regardless of what decision is made. Cost to Rams to make the part: (per unit) Direct Labor:$26 Direct Materials:$12 Fixed overhead $10 Cost to buy the part from...

Question