Answer and Explanation:
The computation is shown below;
(a)
Purchase price of Land $1,101,100
Add: Fair value of restoration $112,500
Less: residual value -$125,000
Developmental costs $250,000
Total $1,388,600
Divided by Tons available for mining 58,200
Per unit Material cost $23.00
(b) Inventory $178,480 (29100 - 21340) × $23
(c ) Cost of goods sold $490,820 (21340 × $23)
Huron has provided the following year-end balances: Cash, $29,000 Patents, $7,400 Accounts receivable, $9,400 Property, plant, and equipment, $98,400 Prepaid insurance, $4,100 Accumulated depreciation, $15,000 Inventory, $39,000 Retained earnings, 15,500 Trademarks, $13,100 Accounts payable, $8,000 Goodwill, $16,000 How much are Huron's current assets
Answer:
$81,500
Explanation:
Given the information above, Hurron's current asset will be computed using the formula below.
= Cash + Accounts receivables + Prepaid insurance + Inventory
= $29,000 + $9,400 + $4,100 + $39,000
= $81,500
Therefore, Hurron's current assets is $81,500.
Prompt What is market information?
Market information refers to data, facts, and insights related to a particular market or industry, which can be used to analyze and understand market dynamics, trends, and opportunities.
What is market?
Market includes information about market size, market share, customer preferences, competitor analysis, pricing trends, demand and supply dynamics, regulatory changes, technological advancements, consumer behavior, and other relevant factors that impact the performance and competitiveness of a market. Market information is essential for businesses, policymakers, investors, and other stakeholders to make informed decisions, develop marketing strategies, identify business opportunities, assess risks, and stay competitive in the marketplace. It is typically gathered through market research, data analysis, market reports, surveys, and other sources, and it plays a crucial role in shaping business strategies and market outcomes.
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Which of the following is not one of the three types of business arrangements in the United
States?
A. sole proprietorship
B. partnership
C. corporation
D. sole partnership
Answer:
a
Explanation:
1. The amount of income that would result from an alternative use of cash is called opportunity cost.
A. True
B. False
2. When a segment of a company is showing a net loss, it is always best to discontinue the segment in order not to continue with losses.
A. True
B. False
Answer: 1. True
2. False
Explanation:
1. Opportunity cost simply means the cost of what we've to forgo for something else. It's the amount of income which would be gotten when we use cash in an alternative way. Therefore, the answer is true.
2. A net loss occurs when the expenses are more than the income for a given period of time. Rather than discontinuing, it's required for a disclose to be made based on the rules, Therefore, the correct answer is false.
Which of the following statements is true about work hour
regulations for 14 and 15-year-olds?
A. They can work up to 40 hours during a non-school week
B. They can work until 10 p.m. during the summer
C. They can work up to 5 hours during school days
D. They can only work outside school hours; no exceptions
Answer:
A
Explanation:
Rodney (a fictional person) was self-employed, running a successful business, seemingly healthy, and never thought he would have financial problems. Being self-employed, he lacked health insurance. One day on the job, Rodney suffered a heart attack and was hospitalized for a week. As a result, he owed more than $100,000 in hospital and medical bills to the hospital. After the heart attack, Rodney could not work in his physically demanding line of work, and his business suffered dramatically. The bills and mortgage payments kept piling up, and Rodney was sinking fast. On top of the medical bills and mortgage, he owed thousands of dollars to multiple companies and creditors. Rodney considered selling his house to get out of the financial crisis he was in, but the value of the house had dropped significantly. After much consideration, Rodney decided to file, bankruptcy. In the end, he decided he would rather have a bankruptcy on his record instead of dealing with a mountain of debt.
1. Bankruptcy, ___________occurs when a debtor turns over all assets to a trustee, an individual who takes over administration of the debtor's estate.
a. An order of relief
b. An automatic stay
c. Relief
d. Liquidation
e. Bankruptcy
2. Who is defined as a debtor for liquidation purposes? Can Rodney file for bankruptcy?
a. Banks; Rodney cannot file.
b. Individuals; Rodney can file.
c. Health Maintenance Organizations; Rodney cannot file.
d. Partnerships: Rodney cannot file
e. Corporations; Rodney cannot file
3. Suppose that Rodney did not intend to file for voluntary liquidation. Could he be forced into bankruptcy?
a. No, he must file the bankruptcy himself.
b. Yes, because he has more than 12 creditors.
c. Yes, because he has a single creditor with a claim of more than $12,300 in debt.
d. No, because people who are self-employed cannot be forced into filing.
4. Rodney has a lot of creditors that are trying to sue him for the debt he owes. One benefit of filing is that once a petition is filed, the code provides for a(n) _______________for almost all creditor litigation against the debtor.
a. Liquidation
b. Order of relief
c. Creditor’s meeting
d. Preferential payment
e. Automatic stay
5. If the filing of Rodney's voluntary petition is proper, the petition automatically becomes a(n):_____.
a. Fraudulent transfer
b. Creditor’s meeting
c. Preferential payment
d. Discharged debt
e. Order of relief.
6. Suppose Rodney fails to show up at his creditors' meeting with his creditors because he is scared to meet with the hospital representatives. What is a possible consequence of his failure to show?
a. His creditors will be allowed to sue him for failure to show.
b. The court may refuse to grant the bankruptcy
c. Rodney will be charged with a criminal offense.
d. There is no penalty for missing a creditor’s meeting.
e. His appointed trustee will be penalized, but Rodney will not.
Answer:
1. Bankruptcy, ___________occurs when a debtor turns over all assets to a trustee, an individual who takes over administration of the debtor's estate.
b. An automatic stay
2. The person defined as a debtor for liquidation purposes is
b. Individuals; Rodney can file.
3. If Rodney did not intend to file for voluntary liquidation, he could not be forced into bankruptcy. a. No, he must file the bankruptcy himself.
4. One benefit of filing is that once a petition is filed, the code provides for a(n) _______________for almost all creditor litigation against the debtor.
e. Automatic stay
5. If the filing of Rodney's voluntary petition is proper, the petition automatically becomes a(n):_____.
e. Order of relief.
6. A possible consequence of Rodney's failure to show up at a creditors meeting is:
b. The court may refuse to grant the bankruptcy
Explanation:
In bankruptcy practices, an order for relief invokes the automatic stay. It is a block on Rodney's debts which brings down the iron curtain, thus, separating Rodney's pre-bankruptcy from his post-bankruptcy. It automatically creates a bankruptcy estate, which prohibits all unauthorized transfers of the Rodney's property.
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $ 383,000 debit Allowance for uncollectible accounts 580 credit Net Sales 880,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared
Answer:
$4,400
Explanation:
The computation of the bad expense amount debited is shown below:
Since in the question it is mentioned that the company estimated 0.5% of net credit sales that are considered to be uncollectible
So,
The amount of bad debt expense debited is
= $880,000 × 0.5%
= $4,400
Hence, the amount is $4,400 that should be debited to bad debt expense
Define your seven weakness and seven strengths with reason
Answer:
weakness
1 i am very sensitive because small things make me feel very bad
2 i cannot say no to anyone because i care about people thought
3 i cannot control my anger i have anger issue
4 i am very extra kind to everyone so many people takes advantage
5 i keep expecting many things from people and result make me sad
6 i cant be angry for a long time it is very easy for making me happy
7 i dont want to share my close person with other
Question 5
Discuss the advantages and disadvantages of holding too little and too much stock.
Explanation:
having too much stock equals extra expense for you as it can lead to a shortfall in your cash flow and incur excess storage costs. having too little stock equals lost income in the form of lost sales, while also undermining customer confidence in your ability to supply the products you claim to sell.Answer:
Explanation:
advantages of little stock are
the product may be sold as a requirement
disadvantage of little stock
the stock may finish at anytime
adavantage of too much stock
the product if finished can be re brought
disadvantage
the product stock may be even left for too long time
Once you have chosen a topic, what should you do before beginning the research process?
Find as many possible facts and details on c. Discuss your idea with others
your topic
a. Find as many possible facts and details on your topic
b. Choose a position
C.Discuss your idea with others
d. None of these
Answer:
the correct answer is option A.
Answer:
C: Discuss your idea with others
Explanation:
the answer IS NOT A, that other person is wrong!!
You have the following information for Crane Company for the month ended October 31, 2022. Crane uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 50 $22 Oct. 9 Purchase 110 24 Oct. 11 Sale 90 35 Oct. 17 Purchase 90 26 Oct. 22 Sale 50 40 Oct. 25 Purchase 60 28 Oct. 29 Sale 100 40 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 0 decimal place, e.g. 125.) Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%)
Answer:
Crane Company
1. Weighted average cost per unit = $25.032
2. (1) LIFO (2) FIFO (3) Average-cost
Ending inventory $1,580 $1,940 $1,752
Cost of goods sold 6,180 5,820 6,008
Sales revenue $9,150 $9,150 $9,150
Gross profit 2,970 3,330 3,142
Gross profit rate 32.5% 36.4% 34.3%
Explanation:
a) Data and Calculations:
Date Description Units Unit Cost or Selling Price Total
Oct. 1 Beginning inventory 50 $22 $1,100
Oct. 9 Purchase 110 24 2,640
Oct. 11 Sale (90) $35 $3,150
Oct. 17 Purchase 90 26 2,340
Oct. 22 Sale (50) 40 2,000
Oct. 25 Purchase 60 28 1,680
Oct. 29 Sale (100) 40 4,000
Total 310 (240) = 70 $7,760 $9,150
Weighted average cost per unit = $25.032
LIFO:
Ending inventory
= (50 * $22) + (20 * $24)
= $1,100 + $480
= $1,580
Cost of goods sold = $7,760 - $1,580 = $6,180
FIFO:l
Ending inventory:
= (60 * $28) + (10 * $26)
= $1,680 + $260 = $1,940
Cost of goods sold = $7,760 - $1,940 = $5,820
Weighted-average costs:
Ending inventory = 70 * $25.032 = $1,752
Cost of goods sold = $7,760 = $1,752 = $6,008
Explain the role of corporate in economic development of country.
Answer:
Economic Development
Explanation:
Small business as well as big companies are important drivers of economic growth and prosperity because they provide vital services, goods, and tax revenues that directly benefit the health of the community. Companies also provide opportunities and jobs, boosting the socioeconomic health of the communities where they are located.
You need to earn 6% annul real rate of return and, in addition, you need to keep up with the annual inflation rate. Exactly 4 years ago, the expected inflation rate was 2% per year. At that time, you decided to invest in a 7-year annuity with $20,000 deposited at the end of each year. Now, right after you made the 4th deposit, the expected annual inflation rate for the next 3 years is 3% per year. To keep your investment goal of 6% real annual return and keeping up with the new inflation rate, how much more each year for the last 3 years you will need to deposit in addition to the $20,000 per year to reach that goal?
Answer:
"4,000" is the appropriate option.
Explanation:
Given:
Real interest rate,
= 6%
Inflation rate,
= 2%
Annual deposit,
= $20,000
Now,
The nominal interest rate will be:
= [tex]Real \ interest \ rate+Inflation \ rate[/tex]
= [tex]6+2[/tex]
= [tex]8[/tex] (%)
As per the annual deposit, I was making,
= [tex]20000\times 0.6[/tex]
= [tex]1200 \ every \ year[/tex]
Inflation rate rise 3% i.e.,
= [tex]2+3[/tex]
= [tex]5[/tex] (%)
Just to earn 1200, I have to:
= [tex]\frac{1200}{0.05}[/tex]
= [tex]24,000[/tex]
Thus the above is the appropriate answer.
Perfectly competitive, unregulated markets with no externalities will provide the efficient level of Group of answer choices private goods. private goods, artificially scarce goods, and common property resources. private goods and artificially scarce goods. private goods, artificially scarce goods, common property resources, and public goods. canva
Answer: private goods
Explanation:
Private goods are referred to as the goods that are excludable and also possess the characteristics of rivalry. Such goods can only be consumed when people pay for them and those who don't pay will noy benefit from the goods.
The demand and supply of private goods will bring about an efficient level of output such that the demand will be equal to the supply. It should be noted that other goods may be faced with challenges like the externality problem, free rider problem etc.
define biospheredefine biosphere
Answer:
Explanation:
The biosphere (from Greek βίος bíos "life" and σφαῖρα sphaira "sphere"), also known as the ecosphere (from Greek οἶκος oîkos "environment" and σφαῖρα), is the worldwide sum of all ecosystems. It can also be termed the zone of life on Earth. The biosphere is virtually a closed system with regards to matter, with minimal inputs and outputs. With regards to energy, it is an open system, with photosynthesis capturing solar energy at a rate of around 130 Terawatts per year. However it is a self-regulating system close to energetic equilibrium. By the most general biophysiological definition, the biosphere is the global ecological system integrating all living beings and their relationships, including their interaction with the elements of the lithosphere, cryosphere, hydrosphere, and atmosphere. The biosphere is postulated to have evolved, beginning with a process of biopoiesis (life created naturally from non-living matter, such as simple organic compounds) or biogenesis (life created from living matter), at least some 3.5 billion years ago.
Answer:
the regions of the surface, atmosphere, and hydrosphere of the earth (or analogous parts of other planets) occupied by living organisms.
The I-75 Carpet discount store has annual demand of 85,700 yards for Super Resistant carpet. The annual carrying cost for a yard of this carpet is $2.25 per yard and the ordering cost is $350. The store is open 52 weeks per year. Assume that the expected value of daily demand is 200, that the standard deviation for daily demand is 4 and that the lead time to fill an order is 11 days. Assume that the EOQ is 5164 yards. What would be the reorder point for a 95% service level?
Answer:
2,421.89
Explanation:
Reorder point = Daily demand*Lead time + Z*STANDARD DEVIATION *√(Lead time)
Reorder point = 300*8 + 1.65*4*√11
Reorder point = 2,400 + 21.8897
Reorder point = 2,421.8897
Reorder point = 2,421.89
So, the reorder point for a 95% service level is 2,421.89.
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 4,400 5,100 4,960 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,100 units. The budgeted production units for July are:
Answer:
the budgeted production units for July are 4,575 units
Explanation:
The computation of the budgeted production units for July are shown below:
= July units + ending units - beginning untits
= 4,400 units + (5,100 × 25%) - 1,100 units
= 4,400 units + 1,275 units - 1,100 units
= 4,575 units
Hence, the budgeted production units for July are 4,575 units
Hence, the same would be considered and relevant
After a project has been accepted, the decision to lease or buy is determined by the present value of the lease's cash flows when discounted at the project's risk-adjusted cost of capital.
true or false?
g Other things equal, an improvement in the expected rate of net profit would Multiple Choice reduce the price level and unemployment. decrease the interest rate and cause aggregate demand to increase. increase consumption and net exports, causing aggregate demand to shift rightward. increase investment spending, real GDP, and the price level.
Answer:
Other things equal, an improvement in the expected rate of net profit would
increase investment spending, real GDP, and the price level.
Explanation:
When the net profit or income improves, the ability of entities to increase their investment spending is enhanced dramatically. The cascading effect improves the real GDP as more investments are made to take advantage of the increased profit rate. Overall, the price level will also increase with increased aggregate demand, coupled with improved investment, employment rate, and improvements in other market indices.
GDP is the Gross Domestic Product is the measurement tool of the market or the economy. It is for all the final goods and services being provided to the final consumer of the goods or services.
When other things are equal then if there is an improvement in the expected rate of net profit then it would also increase the investment spending, the real GDP, and the price level.
Due to the increase in the net profit or the net income of the business, then the ability of the entity towards its investment spending is also enhanced. This is the cascading effect that will also impact the improvement in the real GDP, this is because more investments are made by the entity to take advantage of the increased profit margin rate. This will substantially increase the price level of the goods or services.
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Firm A is very aggressive in its use of debt to leverage up its earnings for common stockholders, whereas Firm NA is not aggressive and uses no debt. The two firms' operations are identical--they have the same total investor-supplied capital, sales, operating costs, and EBIT. Thus, they differ only in their use of financial leverage (wd). Based on the following data, how much higher or lower is A's ROE than that of NA, i.e., what is ROEA - ROENA?
Applicable to Both Firms Firm A's Data Firm NA's Data
Capital $180,000 ___________ 50% ___________ 0%
EBIT $40,000 Int. rate 12% Int. rate 0%
Tax rate 35%
A) 10.25%.
B) 12.01%.
C) 10.35%.
D) 12.12%.
E) 12.84%.
Answer:
Kindly check the because my below submission is water tight
Explanation:
First and foremost, we need to determine the net income for both companies bearing in mind that the for firm A interest expense is 12% of debt capital whereas debt capital is 50% of total capital of $180,000 since the debt ratio(debt/total capital) of firm of Firm A is 50% and 0% for Firm NA
EBIT=$40,000
tax rate=35%
Firm A:
Debt capital=50%*$180,000=$90,000
Equity=50%*$180,000=$90,000
interest expense=$90,000*12%
interest expense=$10,800
Earnings before tax=$40,000-$10,800=$29,200
net income=earnings before-tax*(1-tax rate)
net income=$29,200*(1-35%)
net income=$18,980
return on equity=net income/equity
return on equity=$18,980/$90,000
return on equity=21.09%
Firm NA:
Equity=$180,000
debt=0%
EBIT=$40,000
no debt, no interest expense
net income=$40,000*(1-35%)
net income=$26,000
return on equity=$26,000/$180,000
return on equity=14.44%
ROEA - ROENA=21.09%-14.44%=6.65%
Which statements describe options for exporting query data? Select all that apply.
Copy a database object and paste it into a new program.
Save the entire database as a spreadsheet.
Save a single database object in a new file type, such as .csv.
Copy the entire database and paste it into a new program.
DONE
Answer:
1)Copy a database object and paste it into a new program
3) Save a single database object in a new file type, such as .csv
Explanation:
1 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 6 Beverly Company has determined a standard variable overhead rate of $3.80 per direct labor hour and expects to incur 0.50 labor hour per unit produced. Last month, Beverly incurred 1,600 actual direct labor hours in the production of 3,300 units. The company has also determined that its actual variable overhead rate is $2.40 per direct labor hour. Calculate the variable overhead rate and efficiency variances as well as the total amount of over- or underapplied variable overhead.
Answer:
$8,700
Explanation:
Variable Overhead Rate Variance = Actual Hours *(Actual Rate - Standard Rate) =
Variable Overhead Rate Variance = 1,600 * ($2.40 - $3.80)
Variable Overhead Rate Variance = 1,600 * $1.40 F
Variable Overhead Rate Variance = $2240 F
Variable Overhead Efficiency Variance = Standard Rate*(Actual Hours - Standard Hours) =
Variable Overhead Efficiency Variance = $3.80*(1,600 - 0.50*3,300)
Variable Overhead Efficiency Variance = $3.80* 50 F
Variable Overhead Efficiency Variance = $190 F
Over- or Underapplied Variable Overhead = Actual Overhead Incurred - Overhead Applied
Over- or Underapplied Variable Overhead = 1600*$2.40 - 3,300*$3.80
Over- or Underapplied Variable Overhead = $3840 - $12540
Overapplied Variable Overhead = $8,700
Franchising is typically done by
O cooperatives.
O partnerships.
O LLC
O corporations
Answer:A
Explanation:
Franchising is typically done by D. corporations.
What is franchising?Franchising is a business arrangement in which franchisees are granted licenses by the franchisors to use their trademarks or business processes in carrying out their businesses.
Franchising can occur with these businesses:
Job franchiseProduct franchiseBusiness format (or process) franchise.Thus, franchising is typically done by D. corporations.
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Jacoby Company received an offer from an exporter for 25,400 units of product at $18 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data are available: Domestic unit sales price $21 Unit manufacturing costs: Variable 13 Fixed 5 The differential revenue from the acceptance of the offer is
Answer:
Differential income from the special order= $127,000
Explanation:
A company should accept a special order where the order generates additional contribution. i.e where the special order sales exceeds all relevant cost.
The relevant cost for decision to accept the special order are
I Incremental Revenue from the special order
2. incremental variable cost
Contribution per unit = 18-13=5
Total contribution from special order = contribution per unit × units
= 5× 25,400=$127,000
Differential income from the special order= $127,000
Note that whether or not the special order is accepted the fixed manufacturing and fixed operating expenses of would be incurred either way. Therefore , they are not relevant for the decision
Your company has finished working on an open world video game, CyberPerson 2080. You now have a decision to make. You can auction your game off to a publisher, or you can keep your game and do the marketing and publishing yourself. If you auction your game off, your analytics team estimates there is a 25% chance you will earn $5 million, a 35% chance you will earn $12 million, and a 40% chance you will earn $16 million. If you keep your game, your marketing and publishing costs will be $7 million. If you keep your game, your analytics team estimates there is a 30% chance your game will be a critical and commercial hit, a 25% chance your game will sell well and make gross revenues of $12 million, and a 45% chance another similar game will come out at the same time and you will make gross revenues of $1 million.
If your game is a critical and commercial hit, there is a 60% chance it is on the "best of the year" lists and makes gross revenues of $64 million, a 35% chance it stays on the top seller lists for weeks and makes gross revenues of $28 million, and a 5% chance it makes gross revenues of $18 million. Assume you make decisions using expected value, and you are an expected value maximizer. If you make the optimal decision, how much will you expect to earn from your game?
Answer:
CyberPerson 2080
If you make the optimal decision, the amount you will expect to earn from your game is:
= $11.85 million.
Explanation:
a) Data and Calculations:
Expected value of game being a critical and commercial hit:
Probability Gross Revenue Expected Revenue
60% $64 million $38.4 million
35% 28 million 9.8 million
5% 18 million 0.9 million
100% $49.1 million
Value of auctioning game:
Probability Gross Revenue Expected Revenue
25% $5 million $1.25 million
35% $12 million $4.20 million
40% $16 million $6.40 million
100% $11.85 million
Value of keeping game:
Probability Gross Revenue Expected Revenue
100% -$7 million -$7.00 million
30% $49.1 million $14.73 million
25% $12 million $3.00 million
45% $1 million $0.45 million
100% $11.18 million
b) The optimal solution will be to auction the game and make $11.85 million, which is higher than $11.18 million made from keeping the game and doing the marketing and publishing.
Cliff's Candy produces and sells boxes of chocolates. When Cliff produces and sells his profit-maximizing quantity of 1,000 boxes, the average total cost is $3.00. If Cliff were to produce 1,100 boxes, the average total cost would be $2.50. Which of the following inefficiencies of monopolistically competitive markets is described in this scenario?
a. Product-variety externality
b. Business-stealing externality
c. Markup over marginal cost
d. Excess capacity
Answer:
D
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
The product-variety externality: When new firms enter into an industry, competition drives price down. This increases consumer surplus. As a result, entry of firms into an industry results in a positive externality on consumers.
The business-stealing externality: When a new firm enters into an industry, existing firms lose customers and profits fall. As a result, entry of a new firm results in a negative externality on existing firms.
Markup over marginal cost is the extent of which price exceeds marginal cost
Excess capacity is when a firm is producing at a capacity that is less than what it is designed for. Excess capacity is evidenced when upon increasing output, average cost falls.
Gary Wheeler says that in a nonunion environment, workers who have problems with the company can potentially use alternative dispute resolution processes. A union environment has a similar process called ________, where workers can protest organization actions that they think violate the collective bargaining agreement.
Answer:
the grievance procedure
Explanation:
Here are the options
picketing
fact finding
the corporate campaign
the grievance procedure
decertification
the grievance procedure is the formal way by which an employee can make a grievance or complaint known to their employers. It is a means of internal grievance resolution.
Steps to grievance procedure
the employee submits their complaint to their supervisorthe supervisor and the union representative review the case to determine if it is valid or not. if it is not valid, the grievance is discarded if it is valid, the grievance is resolvedIf the employee is not satisfied with the way the grievance is resolved, the employee can report to another person with a hierarchy. Here the union represents the employeePecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $64,000; 20Y2, $128,000; 20Y3, $288,000; 20Y4, $368,000; 20Y5, $448,000; and 20Y6, $576,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $10 par.
Required:
Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years.
Answer:
Pecan Theatre Inc.
Annual Dividends:
Year Amount Cumulative Common Stock
Declared Arrears
20Y1, $64,000 $64,000 $96,000 $0
Per share dividends $1.60 $0
20Y2, $128,000 $128,000 $128,000 $0
Per share dividends $3.20 $0
20Y3, $288,000 $288,000 $0 $0
per share dividends $7.20 $0
20Y4, $368,000 $160,000 $0 $208,000
Per share dividends $4.00 $2.08
20Y5, $448,000 $160,000 $0 $288,000
Per share dividends $4.00 $2.88
20Y6, $576,000 $160,000 $0 $416,000
Per share dividends $4.00 $4.16
Explanation:
a) Data and Calculations:
Outstanding common stock = 100,000 shares at $10 par
Outstanding 4% cumulative preferred stock = 40,000 at $10 par
Annual preferred stock dividend = 4% * 40,000 * $100
= $160,000
Annual Dividends:
Year Amount Cumulative Common Stock
Declared Arrears
20Y1, $64,000 $64,000 $96,000 $0
Per share dividends $1.60 ($64,000/40,000) $0
20Y2, $128,000 $128,000 $128,000 $0
Per share dividends $3.20 ($128,000/40,000) $0
20Y3, $288,000 $288,000 $0 $0
per share dividends $7.20 ($288,000/40,000) $0
20Y4, $368,000 $160,000 $0 $208,000
Per share dividends $4.00 ($160,000/40,000) $2.08 ($208,000/100,000)
20Y5, $448,000 $160,000 $0 $288,000
Per share dividends $4.00 ($160,000/40,000) $2.88 ($288,000/100,000)
20Y6, $576,000 $160,000 $0 $416,000
Per share dividends $4.00 ($160,000/40,000) $4.16 ($416,000/100,000)
The following are data on three promissory notes. Determine the missing amounts. (Round answers to 0 decimal places, e.g. 5,275. Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest (a) April 1 60 days select a maturity date $630,000 5 % $enter a dollar amount (b) July 2 30 days select a maturity date 86,400 enter percentages % $576 (c) March 7 6 months select a maturity date 136,800 9 % $enter a dollar amount
Answer:
A. Maturity Date 31-May
Total Interest $5,250
B. Maturity Date 02-Aug
Annual interest rate 8%
C. Maturity Date 07-Sep
Total Interest $6,156
Explanation:
Calculation to Determine the missing maturity dates and Total interest and rates on notes.
Date of Note Terms Maturity Date Principal Annual Interest rate Total Interest
a. 01-Apr 60 days 31-May $630,000 5% $5,250
b. 02-Jul 30 days 02-Aug 86,400 8% $576
c. 07-Mar 6 months 07-Sep 136,800 9% $6,156
Working:
A. Calculation for Total Interest and Maturity Date
Total Interest= $630,000 x 5% x 60 days / 360 days
Total Interest = $5,250
Maturity Date
April 2-30 29
May 1-31 31
Total 60 days
B. Calculation for Annual Interest rate and Maturity date
First step is to calculate the 360 days Interest
360 days Interest = $576 x 360 days / 30 days
360 days Interest = $6,912
Now let calculate the Annual interest rate
Annual interest rate = ($6,912 / 86,400) x 100
Annual interest rate= 8%
Maturity Date
July 3-31 28
August 1-2 2
Total 30 days
C. Calculation for Total Interest and Maturity date
Total Interest = 136,800 x 9% x 6 months / 12 months
Total Interest =$6,156
Maturity date
March 8 to April 7 1
April 8 to May 7 1
May 8 to June 7 1
June 8 to July 7 1
July 8 to August 7 1
August 8 to Sep 7 1
Total 6 months
Therefore the missing maturity dates and Total interest and rates on notes are:
A. Maturity Date 31-May
Total Interest $5,250
B. Maturity Date 02-Aug
Annual interest rate 8%
C. Maturity Date 07-Sep
Total Interest $6,156
During 1970, the "year of the environment," all of the following occurred except _____.
the National Oceanic Atmospheric Administration (NOAA) was founded
the Environmental Protection Agency (EPA) was founded
the Clean Air Act was enacted
the Clean Water Act was enacted
During 1970, the "year of the environment," all of the following occurred except__the Clean Water Act was enacted_[enacted on 1972].