Business, 08.02.2021 19:00 blakeley7785
Ag Bio Tech (ABT) was organized on January 1 by four friends. Each organizer invested $14,375 in the company and, in turn, was issued 11,500 shares of common stock. To date, they are the only stockholders. During the first month (January), the company had the following five events:
a. Collected a total of $40,000 from the organizers and, in turn, issued the shares of stock.
b. Purchased a building for $65,000, equipment for $16,000, and three acres of land for $18,000; paid $13,000 in cash and signed a note for the balance, which is due to be paid in 15 years.
c. One stockholder reported to the company that 500 shares of his ABT stock had been sold and transferred to another stockholder for $5,000 cash.
d. Purchased supplies for $3,000 cash.
e. Sold one acre of land for $6,000 cash to another company.
Required:
Was ABT organized as a partnership or corporation? Explain the basis for your answer.
Answers: 2
Business, 22.06.2019 13:30
On january 2, well co. purchased 10% of rea, inc.โs outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in reaโs net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and wellโs officers are a majority on reaโs board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?
Answers: 3
Business, 22.06.2019 15:40
Acompany manufactures x units of product a and y units of product b, on two machines, i and ii. it has been determined that the company will realize a profit of $3 on each unit of product a and $4 on each unit of product b. to manufacture a unit of product a requires 7 min on machine i and 5 min on machine ii. to manufacture a unit of product b requires 8 min on mchine i and 5 min on machine ii. there are 175 min available on machine i and 125 min available on machine ii in each work shift. how many units of a product should be produced in each shift to maximize the company's profit p?
Answers: 2
Business, 22.06.2019 20:30
Contrast two economies that transitioned to capitalism and explain what factors affected the ease kf their transition as welas the โfaceโ of capitalism that each has adopted
Answers: 2
Business, 23.06.2019 00:40
The recognition of which of the following expenses exemplifies the application of matching expenses with the revenues they produced? multiple choice(a) cost of goods sold. (b) advertising.(c) president's salary.(d) research and development.
Answers: 3
Ag Bio Tech (ABT) was organized on January 1 by four friends. Each organizer invested $14,375 in the...
Social Studies, 11.07.2019 16:20
History, 11.07.2019 16:20
Spanish, 11.07.2019 16:20
Biology, 11.07.2019 16:20
Business, 11.07.2019 16:20
English, 11.07.2019 16:30
Mathematics, 11.07.2019 16:30