The arndt company repurchased 50,000 shares of its own common stock on the stock exchange during 2019. at the end of 2018, arndt had 750,000 shares of its common stock outstanding, during 2019, no preferred dividends were paid but $350,000 of dividends were paid on common stock. net income for 2019 was $3,300,000. which of the following is not true for 2019 based only on the above information? a. earnings per share would be calculated using 350,000/750,000. b. stockholders equity would decrease because of the dividends paid. c. earnings per share for 2019 is higher because of the stock repurchase than if the purchase had not been made. d. the purchase of treasury stock will reduce cash during 2019.

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

On july 1, oura corp. made a sale of $ 450,000 to stratus, inc. on account. terms of the sale were 2/10, n/30. stratus makes payment on july 9. oura uses the net method when accounting for sales discounts. ignore cost of goods sold and the reduction of inventory. a. prepare all oura's journal entries. b. what net sales does oura report?

On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?