ECO325H1 Lecture 8: Lecture 8 Ramsey-Cass-Koopman Model
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On 11 October 2017, the January 2018 NSW wheat futures closing price was $240/MT. Suppose, on the morning of 12 October 2017, meteorologists announced an increased probability of excessive rainfall that can considerably reduce the crop yield. All else held constant, which of the following is the most likely candidate of the January 2018 NSW wheat futures closing price on 12 October 2017?
A. |
the provided information is insufficient |
|
B. |
$230/MT |
|
C. |
$250/MT |
|
D. |
$240/MT |
On october 10, the stockholders’ equity of sherman systems appears as follows:
Common stock-$10 par value, 72,000 shares authorized, issued, and outstanding | $720,000 |
Paid-in capital in excess of par value, common stock | 216,000 |
Retained earnings | 864,000 |
Total stockholders' equity | $1,800,000 |
1. Prepare journal entries to record the following transactions for Sherman Systems.
a. Purchased 5,000 shares of its own common stock at $25 per share on October 11.
b. Sold 1,000 treasury shares on November 1 for $31 cash per share.
c. Sold all remaining treasury shares on November 25 for $20 cash per share.