Answer:
See below
Explanation:
The company's cash flow to creditors is the total amount of money available to be paid to creditor. It is a cash flow because the money goes out of the company in order to be paid to creditors
Therefore, the company's cash flow to creditors is computed as;
= Interest paid - (Ending long term debt - Beginning long term debt)
= $4,201 - ($43,118 - $37,761)
= $4,201 - $5,357
= -$1,156
Hence, operating cash flow to creditors is -$1,156
This is nearly double the proposed US contribution to which of the following?
A
Kyoto Protocol
B
London Accords
C
Paris Agreement
D
Geneva Convention
Answer: C . Paris Agreement
Explanation:
You included no background passage or additional details to the question for me to know what contribution you speak of but the above is most probably the answer.
The U.S. never ratified the Kyoto Protocol so I don't think they had contribution requirements. The London Accords produces research for financial investors so has little to do with the U.S. as a whole.
The Geneva Convention is simply an agreement on conduct during wars so this does not require contributions. This leaves the Paris Agreement ... on Climate Change which has set targets on the emissions to be cut by developed countries so it is most likely the answer.
Type the correct answer in the box. Spell all words correctly.
What is the repercussion of excessive tax withholding?
If you withhold excessive tax, you will receive a
when you file your taxes the following year.
The repercussion of excessive tax withholding is that the tax payable will remain unpaid.
What is excessive tax withholding?A tax withholding means the amount of income tax that employer withholds from its employee's income to the payment of tax in government coffers in the employee's name
In conclusion, the repercussion of excessive tax withholding is that the tax payable will remain unpaid.
Read more about tax withholding
brainly.com/question/24152652
Answer:
Refund
Explanation:
The IRS states that a refund will happen if this is the case.
A certain % annual coupon rate convertible bond ($1,000 par value, maturing in 20 years) is convertible at the holder's option into shares of common stock. The bond is currently trading at $. The stock (which pays ¢ a share in annual dividends) is currently priced in the market at $ a share. a. What is the bond's conversion price? b. What is its conversion ratio? c. What is the conversion value of this issue? What is its conversion parity? d. What is the conversion premium, in dollars and as a percentage? e. What is the bond's payback period? f. If comparably rated, nonconvertible bonds sell to yield what is the investment value of the convertible?
Answer:
Full word "A certain 6% annual coupon rate convertible bond (maturing in 20 years) is convertible at the holder's option into 20 shares of common stock. The bond is currently trading at $800. The stock (which pays 82 ¢a share in annual dividends) is currently priced in the market at $34.35 a share."
a. The conversion price = Face value / Number of the shares it can be converted into
= 1,000 / 20 shares
= $50
b. The conversion ratio is 1:5 as 1 bonds convertible into 5 equity shares
c. Conversion value = Value of the shares it can be converted into
= 20 shares * Price of $34.35
= $687
Conversion parity = Price of the bond / Number of shares its convertible into
Conversion parity = $800 / $20
Conversion parity = $40
d. Conversion premium = Current price of bond - Conversion price
= $800 - $687
= $113
Conversion premium percentage = $113/$687*100
= 16.44832%
= 16.45%
e. Bonds payback period = Conversion premium /(Annual coupon interest - Annual common dividend)
= 113/(6%*1000 - 20*0.82)
= 113/(60 - 16.4)
= 113/43.60
= 2.59 years
Standard costs are used in the calculation of: Multiple Choice Quantity and sales variances. Price variances only. Price, quantity, and sales variances. Price and quantity variances. Quantity variances only.
Answer:
Price and quantity variances.
Explanation:
Standard cost in business management refers to the amount of money a product is supposed to cost in manufacturing it. It is a management tool that can be used to measure efficiency in the level of output or production of goods and services at a specific period of time.
In Financial accounting, the difference between the actual cost of each unit of a product and its standard cost is referred to as variance. In order to determine the standard cost of a product, the expected quantity of the product is multiplied by an expected price.
Standard costs are used in companies for a variety of reasons such as;
1. They're used to estimate the cost of an inventory.
2. They're used to plan direct labor, variable factory overhead and direct materials.
3. Standard costs are used to control costs.
However, standard costs cannot be used to indicate where changes in technology and machinery need to be made rather an actual cost should be used.
Additionally, the standard cost of each unit of a product manufactured in a business firm is categorized into two (2) and these are;
I. Price standard.
II. Quantity standard.
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 5,500 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $94,600, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2021. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon will be applied to $44,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.20 per unit.
Required:
a. . How many performance obligations are in this contract?
b. Prepare the journal entry that Meta would record on May 1, 2021.
c. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. In this case, what journal entry would Meta record on May 1, 2021?
Answer:
A. 2
B. May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
Cr Deferred revenue-coupons $4,730
C. May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
Explanation:
A. Based on the information given the numbers of PERFORMANCE OBLIGATIONS that are in this contract is 2 which are:
KEYBOARD and CUSTOMER OPTION FOR FUTURE DISCOUNT
B. Preparation of the journal entry that Meta would record on May 1, 2021.
May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
($94,600-$4,730)
Cr Deferred revenue-coupons $4,730
(5%*$94,600)
C. Preparation of the journal entry that Meta would record on May 1, 2021
May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
How do I solve this? It’s a real estate question.
Prepare journal entries to record each of the following four separate issuances of stock.
a. A corporation issued 8,000 shares of $5 par value common stock for $48,000 cash.
b. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
c. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
d. A corporation issued 2,000 shares of $75 par value preferred stock for $190,000 cash.
Answer:
subject?
Explanation:
Windsor, Inc. purchased equipment on January 1, 2021 for $99,000. It is estimated that the equipment will have a $5,500 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 110,000 units over its 5-year life. Answer the following independent questions.
Compute the amount of depreciation expense for the year ended December 31, 2021 using the straight-line method of depreciation. Straight-line method $enter the depreciation expense under the straight-line method for the year ended December 31, 2016 in dollars per year.
Answer:
the depreciation expense under the straight-line method for the year 2021 is $18,700
Explanation:
The computation of the depreciation expense under the straight-line method is shown below for the year 2021 ;\
= (Purchase cost of an equipment - salvage value) ÷ (useful life)
= ($99,000 - $5,500) ÷ 5 years
= $18,700
Hence, the depreciation expense under the straight-line method for the year 2021 is $18,700
The same would be considered
Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: Issued 100,000 shares of the common stock at $55 cash per share. Reacquired 25,000 shares at $50 cash per share. Reissued 10,000 shares from treasury for $51 per share. Reissued 10,000 shares from treasury for $49 per share.
a. Issued 100,000 shares of the common stock at $55 cash per share.
b. Reacquired 25,000 shares at $50 cash per share.
c. Reissued 10,000 shares from treasury for $51 per share.
d. Reissued 10,000 shares from treasury for $49 per share.
Required:
a. Indicate the account and amount for the above transactions.
b. Prepare journal entries to record each transaction.
c. Prepare the stockholders equity section of the balance sheet at December 31, 2013.
Answer:
Global Marine
a. Indication of the accounts and amounts for each transaction:
a. Cash $5,500,000 Common stock $500,000 Additional Paid-in Capital $5,000,000
b. Treasury stock $125,000 Additional Paid-in Capital $1,125,000 Cash $1,250,000
c. Cash $510,000 Treasury stock $50,000 Additional Paid-in Capital $460,000
d. Cash $490,000 Treasury stock $50,000 Additional Paid-in Capital $440,000
b. Journal Entries:
a. Debit Cash $5,500,000
Credit Common stock $500,000
Credit Additional Paid-in Capital $5,000,000
To record the issuance of 100,000 shares of the common stock at $55 cash per share.
b. Debit Treasury stock $125,000
Debit Additional Paid-in Capital $1,125,000
Credit Cash $1,250,000
To record the repurchase of 25,000 shares at $50 cash per share.
c. Debit Cash $510,000
Credit Treasury stock $50,000
Credit Additional Paid-in Capital $460,000
To record the re-issuance of 10,000 shares from treasury for $51 per share.
d. Debit Cash $490,000
Credit Treasury stock $50,000
Credit Additional Paid-in Capital $440,000
To record the re-issuance of 10,000 shares from treasury for $49 per share.
Explanation:
a) Data and Calculations:
Authorized common stock shares, 1,000,000 at $5 par value
Net income earned during the year = $400,000
Selected transactions:
a. Cash $5,500,000 Common stock $500,000 Additional Paid-in Capital $5,000,000
100,000 shares of the common stock at $55 cash per share.
b. Treasury stock $125,000 Additional Paid-in Capital $1,125,000 Cash $1,250,000
25,000 shares at $50 cash per share.
c. Cash $510,000 Treasury stock $50,000 Additional Paid-in Capital $460,000
10,000 shares from treasury for $51 per share.
d. Cash $490,000 Treasury stock $50,000 Additional Paid-in Capital $440,000
10,000 shares from treasury for $49 per share.
19. Information could be transmitted from top management to employee in organization called: *
(2.5 Points)
O a) Downward communication.
b) Upward communication.
c) Cross channel communication.
Answer:
information transmitted from top management to employee in organization is called Cross channel communication
Tej Dhakar's company wants to establish kanbans to feed a newly established work cell. The following data have been provided. Note: This is a level production system. Daily demand units Production lead time Safety stock Kanban size units How many kanbans are needed? nothing kanbans (round your response to the nearest whole number).
Answer:
14 kanbans
Explanation:
Note: The full question is attached as picture below
d = 150 units
lt = 3.00 days
Safety stock = 1.50 days
c = 50 units
Demand during lead time = d * LT
Demand during lead time = 150 * 3
Demand during lead time = 450 units
Safety stock = d * 1.50 days
Safety stock = 150 * 1.50
Safety stock = 225 units
N = Demand during lead time + Safety stock / C
N = 450 units + 225 units / 50 units
N = 675 / 50
N = 13.5
N = 14 kanbans
So therefore, the unit of 14 kanbans are needed.
What is ethical behavior?
Answer:
Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those who have others' interests in mind when they make decisions are displaying ethical behavior. In the workplace, there might be a standard for ethics set throughout the company.
Explanation:
Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot. Across the street is a collection of specialty shops and a furniture store. Pick of the Litter will be part of a strip shopping center.
a. True
b. False
Answer:
b. False
Explanation:
A strip mall or a strip shopping centre is made up of a set of businesses that are arranged adjacent to themselves and usually have a side walk in front of them.
It's is a row of shops.
I'm the given instance Pick of the Litter built a store building across the street is a collection of specialty shops and a furniture store.
Since Pick of the Litter is not on the same side of the street as the other shops it is in a row with them, so it is not part of the strip shopping centre.
Eco Strip Inc. makes a paint remover which is made up of two direct materials, X and Y. The standard costs and standard quantities are as follows. Each gallon of paint remover requires 0.3 gallons at $4.00 per gallon of material X and 0.7 gallons at $6.00 per gallon of material Y. During April, Eco Strip produced 50,000 gallons of paint remover, used 17,000 gallons at $4.25 per gallon of material X, and used 38,000 gallons at $5.90 per gallon of material Y. What are the mix and yield variances for material X for the month of April?
a. $2,000 U; $6,000 U.
b. $3,000 U; $5,000 U.
c. $10,000 U; $2,000 F.
d. $10,000 F; $18,000 U.
e. None of these.
Answer:
a. $2,000 U; $6,000 U
Explanation:
Material Mix Variance for X = (Actual Usage in standard proportions - Actual Usage in Actual Proportions) * Standard Price per unit
= ((55000*0.3) - 17000) * $4
= $2,000 Unfavorable
Material Yield Variance for X = (Expected input units in standard proportions - Input units based on Actual output) * Standard Price per unit
= ((55000*0.3) - (50000*0.3)) * $4
= $6,000 Unfavorable
Jiang Company initially issued 300,000 shares of $1 par stock for $1,500,000 in 2016. In 2019, the company repurchased 30,000 shares for $300,000. In 2020, 15,000 of the repurchased shares were resold for $240,000. In its balance sheet dated December 31, 2020, the company's treasury stock account shows a balance of:
Answer:
$150,000
Explanation:
Calculation to determine the company's treasury stock account balance
Based on the information given The 2020 repurchase will be debited to treasury stock for the amount of $300,000 and in a situation were half of the treasury stock is been resold the amount of $150,000 Calculated as ($300,000/2) will be credited to treasury stock
Using this formula
Treasury stock account balance=2020 Repurchase stock - Half of treasury stock resold)
Let plug in the formula
Treasury stock account balance=$300,000-($300,000/2)
Treasury stock account balance=$300,000+$150,000
Treasury stock account balance=$150,000
Therefore In its balance sheet dated December 31, 2020, the company's treasury stock account shows a balance of $150,000
Personal selling is done orally, either in person or on the phone.
True
False
Answer:
true
Explanation:
personal selling is done orally, either in person or on the phone
Answer:
true
Explanation:
espero que te ayude
Select the correct answer.
Which critical factor must Mac, an entrepreneur, consider to select his suppliers?
A.
the assurance that the supplier will provide 100 percent original material
B.
the assurance that the supplier will always provide a flat discount rate regardless of the market condition
C.
the assurance that the supplier will be able to meet urgent and immediate demands at all times
D.
the assurance that Mac will earn customer loyalty by producing goods sold by the supplier
E.
the assurance that Mac’s business will expand every financial year
Select the correct text in the passage.
Which person in the situation below is part of the inventory control stage in the supply chain process?
Richard takes receipts of ordered materials. He also manually updates the inventory records with the goods received by matching them to the orders placed. He scans all item codes in the warehouse computer system. His friend, Carlos, arranges for fork lifters to move and stack up the inventory and makes them ready for production. He also places orders for replenishment of stocks when they reach a minimum level. Boris is another person who makes advance payments and other payments to suppliers and transporters.
Answer:
Carlos, arranges for fork lifters to move and stack up the inventory and makes them ready for production
Explanation:
plato :)
***this is a question with many correct answers, this is just one of them
Answer:
Places orders for replenishment of stock is right (I took the test and that's the only one I got right)
Explanation:
First 3 options are wrong, too (I took the test awhile ago). That only leaves the one about Carlos and the very last one (I'm still trying to figure it out myself). Sorry I can't be of more help!
the preferred stock of BGE, inc. is sold at $37 and pays a divident of $5. And the net price of the secuirty after issurancee costs is estimated to be $32.93 what is the cost of preferred stock for BGE? g
Answer:
15.18%
Explanation:
Cost of preferred stock = Annual dividend/Net Proceeds
Cost of preferred stock = $5 / $32.93
Cost of preferred stock = 0.1518372305
Cost of preferred stock = 15.18%
So, the cost of preferred stock for BGE is 15.18%.
On May 8, Dome filed a financing statement that adequately identified the collateral. On June 9, Tint sold one computer to Bean for personal use and four computers to Green Co. for its business. Which of the following is correct?
A. The computer sold to Bean will riot be subject to Dome's security interest
B The computers sold to Green will be subject to Dome's security interest
C. The security interest cloes rnot include the prioceeds from the sale of the.computers to Green
D. The security interest muy not cover after-acquired property evenif the parties agree 2 pts
Answer: A. The computer sold to Bean will not be subject to Dome's security interest
Explanation:
The computers sold to Bean have passed ownership from Tint to Bean and so cannot be subject to whatever agreements Tint had with Dome Bank because those agreements were contingent on Tint owning the computers.
For instance, if you buy a car from a dealership which had acquired those cars by using loans from a bank, you are not liable to pay the interest on the loan that the dealership took to buy the car.
On December 31, 2020, Brisbane Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $50 par, cumulative preferred stock outstanding. On February 28, 2021, Brisbane purchased 24,000 shares of common stock on the open market as treasury stock paying $40 per share. Brisbane sold 6,000 treasury shares on September 30, 2021, for $45 per share. Net income for 2021 was $180,905. Also outstanding during the year were fully vested incentive stock options giving key officers the option to buy 50,000 common shares at $40. The market price of the common shares averaged $50 during 2021.
Required:
Compute Brisbane's basic and diluted earnings per share for 2021.
Answer:
Brisbane Company
1. Brisbane's basic earnings per share for 2021 is:
= $0.93.
2. Brisbane's diluted earnings per share for 2021 is:
= $0.58.
Explanation:
a) Data and Calculations:
December 31, 2020:
Common stock outstanding = 100,000
7%, $50 par, Cumulative preferred stock = 30,000
Treasury stock on February 28 = 24,000
Resale of treasury stock on Sept 30 = 6,000
December 31, 2020:
Common stock outstanding = 82,000 (100,000 - 24,000 + 6,000)
Net income for 2021 = $180,905
Preferred stock dividends = $105,000 (30,000 * $50 * 7%)
Earnings for common stockholders = $75,905 ($180,905 - $105,000)
Stock options for key officers = 50,000
Basic earnings per share = $75,905/82,000 = $0.93
Diluted earnings per share = $75,905/(82,000 + 50,000) = $0.58
Phishing:_______
a) A con executed using technology, typically targeted at acquiring sensitive information, or tricking someone into installing malicious software.
b) A term that, depending upon the context, may be applied to either, 1) someone who breaks into a computer system, or 2) a particularly clever solution.
c) When someone uncovers computer weaknesses, without exploiting them.
d) When a protester seeks to make a political point by leveraging technology tools, often via system integration, defacement, or damage.
Answer:
a)
Explanation:
Phishing is a type of deception in which an intruder disguises himself in email or other means of communication as a reputable individual or person. Attackers would normally use phishing e-mails to spread a range of malicious links or attachments. Some people will gather login credentials or victims' account details.
So as per above definition only option A seems the correct alternative among al the other option when discussing about Phishing.
A con executed using technology, typically targeted at acquiring sensitive information, or tricking someone into installing malicious software.
Company manufactures two products, Product C and Product D. The company estimated it would incur $177,910 in manufacturing overhead costs during the current period. Overhead currently is applied to the products on the basis of direct labor hours. Data concerning the current period's operations appear below:
Product C Product D
Estimated volume 3,800 units 3,000 units
Direct labor hours per unit 1.20 hours 0.80 hour
Direct materials cost per unit $11.60 $23.70
Direct labor cost per unit $10.80 $7.20
Required:
a. Compute the predetermined overhead rate under the current method.
b. Determine the unit product cost of each product for the current year.
Answer:
Following are the responses to the given question:
Explanation:
[tex]\text{Predetermined Overhead Rate} = \frac{\text{Total Overhead cost}}{\text{Total Direct Labor hours}}[/tex]
[tex]= \frac{177910}{( 3800 \times 1.2+3000 \times 0.80 )}\\\\ = \frac{177910}{(4560+2400)}\\\\ = \frac{177910}{6960}\\\\ = \$25.56 / DLH[/tex]
[tex]Product C \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ Product D[/tex]
[tex]\text{Cost of direct materials per unit} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 11.6 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 23.7\\\\\text{Cost of direct labor per unit} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 10.80 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 7.20\\\\\text{Cost of overhead per device} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 30.67 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 20.45\\\\[/tex]
[tex]\text{Cost per unit total} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 53.04 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 51.35\\\\\\\to 3800 \times 1.20 \times \frac{25.56}{3800} = 30.67\\\\\to 3000 \times 0.80 \times \frac{25.56}{3000} = 20.45[/tex]
Several critics of the drug companies have claimed that the companies' practice of testing drugs on poor people in developing countries violates principles of justice. Why would they say this
Answer:
Because people in developing countries are less educated and don't understand the implications of being used for drug trials
Explanation:
Drug trials are carried out to test new drugs that companies want to introduce to the market.
The drugs are usually first tested on animals and in the final testing phase human trials are used to gauge how the drug will affect people.
In 1980 the FDA gave approval for testing in other countries. A lot of companies now started using developing countries for their drug trials.
This practice violates the principles of justice because the people in developing countries are mostly illiterates that don't the potential risks drug trials have.
The subjects of the trials are usually given some cash to participate in the trials. They consider it easy money.
ABC Corporation is considering the purchase of a machine that would cost $220,000 and would last for 9 years. At the end of 9 years, the machine would have a salvage value of $20,500. By reducing labor and other operating costs, the machine would provide annual cost savings of $35,000. The company requires a minimum pretax return of 9% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
a. $(745)
b. $(95,000)
c. $(16,092)
d. $9,665
Answer:
a. $(745)
Explanation:
The computation of the net present value is shown below;
As we know that
Net present value = Present value of Cash inflow - Present value of Cash outflow
= ($35,000 × 5.995+ $20,500 × 0.46) - $220,000
= -$745
We simply deduct the cash outflow present value from the cash inflow present value so that the net present value could come
hence, the option a is correct
A checking deposit functions as a.a medium of exchange and as a store of value. b.a store of value, but not as a medium of exchange. c.a medium of exchange, but not as a store of value. d.neither a medium of exchange nor as a store of value.
Answer:
a.a medium of exchange and as a store of value.
Explanation:
The checking account would be used in order to kept the money also it is used to buy the goods and services via online banking or writing the check
So as per the given situtation, the function of the checking deposit would be treated as the medium of exchange and the store of the value. Both should be considered
hence, the correct option is a.
Microsoft sells two types of office software, a word processor it calls Word, and a spreadsheet it calls excel. Both can be produced at zero marginal cost. There are two types of consumers for these products, who exist in roughly equal proportions in the population: authors, who are willing to pay $120 for Word and $40 for excel, and economists who are willing to pay $50 for word and $150 for excel.
a. Ideally, Microsoft would like to charge authors more for Word and economists more for excel. Why would it be more difficult for microsoft to do this?
b. Suppose that Microsoft execs decide to sell word and Excel Seperately, what price should Microsoft set for word? (Hint: is it better to sell only to authors, or try to sell to both authors and economists?) What price should Microsoft set for excel? What will microsoft's profit be from a representative group of one author and one economist?
c. Suppose the Microsoft decides to bundle together Word and Excel in a package called Office, and not offer them individually. What price should Microsoft set for the package? Why? How much profit will Microsoft generate from a representative group of one author and one economist?
d. Does bundling allow Microsoft to generate higher profit than selling Word and Excel seperately?
Answer:
a
Explanation:
Witt Corporation received its charter during January of this year. The charter authorized the following stock:
Preferred stock: 10 percent, $10 par value, 21,000 shares authorized
Common stock: $8 par value, 50,000 shares authorized
During the year, the following transactions occurred in the order given:
a. Issued a total of 40,000 shares of the common stock at $12 cash per share
b. Sold 5,500 shares of the preferred stock at $16 cash per share
c. Sold 3,000 shares of the common stock at $15 cash per share and 1,000 shares of the preferred stock at $26 cash per share
d. Net income for the year was $96,000
Required:
Prepare the Stockholders' Equity section of the balance sheet at December 31, 2011.
Answer:
Stockholders' Equity = $735,000
Explanation:
This can be prepared as follows:
Witt Corporation
Stockholders' Equity Section of the Balance Sheet
At December 31, 2011
Details Amount ($)
Common stock (w.1) 344,000
Preferred stock (w.2) 65,000
Additional paid in capital - Common stock (w.3) 181,000
Additional paid in capital - Preferred stock (w.4) 49,000
Net income 96,000
Stockholders' Equity 735,000
Workings:
w.1. Common stock = (Number of common shares issued in transaction a + Number of common shares issued in transaction c) * Par value of common stock = (40,000 + 3,000) * $8 = $344,000
w.2. Preferred stock = (Number of preferred shares issued in transaction b + Number of preferred shares sold in transaction c) * Par value of preferred stock = (5,500 + 1,000) * $10 = $65,000
w.3. Additional paid in capital - Common stock = (Number of common shares issued in transaction a * (Selling price per share of the transaction - Par value of common stock)) + (Number of common shares issued in transaction c * (Selling price per share of the transaction - Par value of common stock)) = (40,000 * ($12 - $8)) + (3,000 * ($15 - $8)) = $181,000
w.4. Additional paid in capital - Preferred stock = (Number of preferred shares issued in transaction b * (Selling price per share of the transaction - Par value of preferred stock)) + (Number of preferred shares issued in transaction c * (Selling price per share of the transaction - Par value of preferred stock)) = (5,500 * ($16 - $10)) + (1,000 * ($26 - $10)) = $49,000
The preparation of the Stockholders' Equity Section of the Witt Corporation's Balance Sheet as of December 31, 2011, is as follows:
Witt Corporation
Balance Sheet
As of December 31, 2011
Stockholders' Equity Section
Authorized Shares:
21,000 shares, 10% Preferred Stock at $10
50,000 shares, Common Stock at $8
Issued and Outstanding:
Common Stock, 43,000 shares $344,000
Additional Paid-in Capital- Common 181,000
10% Preferred Stock, 6,500 shares 65,000
Additional Paid-in Capital- Preferred 49,000
Retained Income 96,000
Total stockholders' equity $735,000
Data Analysis:
a. Cash $480,000 Common Stock $320,000 Additional Paid-in Capital-Common $160,000
b. Cash $88,000 10% Preferred Stock $55,000 Additional Paid-in Capital- Preferred $33,000
c. Cash $45,000 Common Stock $24,000 Additional Paid-in Capital-Common $21,000
Cash $26,000 10% Preferred Stock $10,000 Additional Paid-in Capital- Preferred $16,000
d. Net income for the year = $96,000
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Oregon Outfitters issues 1,700 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to purchase 220 shares at a cost of $21 per share. (1) Record the original issue of the 1,700 shares, (2) Record the purchase of 220 shares, and (3) Record the entry if Oregon Outfitters resells the 220 shares of treasury stock at $27 per share. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the original issue of the 1,300 shares.
Answer and Explanation:
The journal entries are given below;
1. Cash Dr, $34,000 (1,700 × $20)
To Common Stock $1,700
To Paid in capital in excess of par-Common Stock $32,300
(Being issue of common stock is recorded)
2.Treasury stock Dr, $4,620 (220 × $21)
To Cash $4,620
(Being repurchase of treasury stock is recorded)
3. Cash Dr, $5,940 (220 × $27)
To Treasury stock $4,620 (220 × $21)
To Paid in capital-Treasury stock $1,320
(Being reissue of treasury stock is recorded)
Five years ago, you invested in the Future Investco Mutual Fund by purchasing shares of the fund at the price of per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your shares in this fund for $ per share. If there were a % load on this fund, what would your rate of return be?
Answer:
7.12%
Explanation:
Full question "Three years? ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at the price of $ 19.51 per share. Because you did not need the? income, you elected to reinvest all dividends and capital gains distributions. ? Today, you sell your 1,100 shares in this fund for ?$22.02 per share. If there were a 1?% load on this? fund, what would your rate of return? be? The compounded rate of return on this investment over the? three-year period is?"
Value of investment three year ago = 1,000 * $19.51 = $19,510
Value of investment today = 1,100 * $22.02 = $24,222
Load = 1%. Net Proceed from sale of investment = $24,222 * (1 - 1%) = $23,979.78
Rate of return in three year = ($23,979.78 - $19,510) / $19,510
Rate of return in three year = $4,469.79 / $19,510
Rate of return in three year = 0.229103
Rate of return in three year = 22.91%
Annual Return = [(1 + 22.91%)^(1 / 3)] - 1
Annual Return = 1.0712 - 1
Annual Return = 0.712 - 1
Annual Return = 7.12%