Hansen Inc. engaged in the following transactions during the current year:

a. Repurchased 13,000 shares of its own $1 par common stock for $14 per share on January 14.

b. Sold 2,000 treasury shares to employees for $6 per share on January 31.

c. Repurchased 3,000 more shares of the $1 par common stock for $16 per share on July 24.

d. Sold the remaining 11,000 shares from the January 14 purchase and 1,200 of the shares from the July 24 purchase to employees for $6.50 per share on August 1.

Required:

1. Prepare journal entries for each of these transactions.

2. Determine what the effect on total stockholders’ equity is for each of the four transactions.

Which of the following best describes the economic effect that results from the government having a budget surplus? a. consumers save more and spend less, enabling long-term financial planning. b. overall demand decreases, reducing the incentive for producers to increase production. c. banks have more deposits, enabling them to make more loans to investors. d. government spending increases, increasing competition for goods and services and driving prices up.

Miller company’s total sales are $171,000. the company’s direct labor cost is $20,520, which represents 30% of its total conversion cost and 40% of its total prime cost. its total selling and administrative expense is $25,650 and its only variable selling and administrative expense is a sales commission of 5% of sales. the company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. required: 1. what is the total manufacturing overhead cost? 2. what is the total direct materials cost? 3. what is the total manufacturing cost? 4. what is the total variable selling and administrative cost? 5. what is the total variable cost? 6. what is the total fixed cost? 7. what is the total contribution margin?

Both a demand curve and a demand schedule show how a. prices affect consumer demand. b. consumer demand affects income. c. prices affect complementary goods. d. consumer demand affects substitute goods.