Answer:
The current stock price is $13.60
Explanation:
D1 = $0.53
D2 = $0.58
D3 = $0.73
D4 = $1.03
Growth rate, g = 3.60%
Required return, r = 10.00%
D5 = D4 * (1 + g)
D5 = $1.03 * 1.036
D5 = $1.06708
P4 = D5 / (r - g)
P4 = $1.06708 / (0.10 - 0.036)
P4 = $16.673125
P0 = $0.53/1.10 + $0.58/1.10^2 + $0.73/1.10^3 + $1.03/1.10^4 + $16.673125/1.10^4
P0 = $13.60
So, current stock price is $13.60
The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.
<h3>What is a journal entry?</h3>
Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.
In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.
Read more about the journal entry
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Given:
<span>stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185
To determine the total assets, we only have to consider the following:
</span>cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
<span>accumulated depreciation <u> (1,100) </u>
</span>Total assets: 22,930 CHOICE D.
NET INCOME:
fees earned 9,250
<span>wages expense (2,500) </span>
<span>rent expense (1,960) </span>
<span>utilities expense (775) </span>
<span>depreciation expense (250) </span>
<span>miscellaneous expense <u> (185)</u>
</span><span>Net Income 3,580
LIABILITIES AND S.H.E
</span>accounts payable 1,900
<span>notes payable 4,300 </span>
<span>common stock 1,000 </span>
<span>retained earnings 12,940 </span>
<span>dividends (790)
</span>Net Income <u> 3,580</u>
TOTAL LIABILITIES & SHE 22,930
Answer:
The correct answer is letter "B": market value.
Explanation:
Market Value is the price of an asset that is traded or offered for sale in a public forum where multiple buyers are allowed to make offers to buy that asset. For marketable securities of publicly traded companies, the companies are required to issue periodic financial information to the public to meet a full-knowledge requirement.
Answer:
$30,000
Explanation:
Warranty liability is a liability account used to report the expected amount of repairing or replacing products already shipped. It's a contingency liability and it should be recorded independently from the actual warranty costs. Therefore, warranty liability, in this case, is:
$600,000 * 0.05 = $30,000
The estimated warranty liability reported in the balance sheet this year is $30,000
