There is nothing that can be done when advertisers record and transmit their advertisement at higher volume than the

On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported information related to basic earnings per

astraxan [27]

Answer and Explanation:

The computations are as follows

a. For basic earning per share

= Net income ÷ Average number of outstanding common shares

= ($16,888 - $1,483) ÷ 10462.282 shares

= $1.47 per share

b. Preferred stock dividends = Net income - Net income applicable to common shareholders

= $4,833 - $4,211

= $622

c. The net income applicable to common shareholders is

= Average number of common shares outstanding × Basic earning per share

= 10,527.818 × $0.40

= $4,211

d. The net income is

= Preference stock dividend + Net income applicable to common shareholders

= $1,349 + $10,583

= $11,932

e. Average number of common shares outstanding is

= Net income for common shareholders ÷ basic earning per share

= $10,583 ÷ $0.94

= $11,258.51

We simply applied the general formulas

8 0

4 years ago

Maurice is buying a property from Robert. At the initial property viewing, Robert tells Maurice that the property is 4.1 acres.

andreev551 [17]

Answer:

The contract is voidable.

Explanation:

The survey discovered a misrepresentation in the consideration (the size of the land), so that means that Maurice can choose to void it or not. A voidable contract is a contract that can be voided. In this case, the injured party is only Maurice, so only he can void it, or choose not to. They might negotiate a discount or something, it is up to him.

8 0

3 years ago

Garcia Co. owns equipment that cost $84,400, with accumulated depreciation of $44,600. Garcia sells the equipment for cash.

user100 [1]

Answer:

a.

Accumulated depreciation 44600 Dr

Cash 52700 Dr

Equipment 84400 Cr

Gain on disposal 12900 Cr

b.

Accumulated depreciation 44600 Dr

Cash 39800 Dr

Equipment 84400 Cr

c.

Accumulated depreciation 44600 Dr

Cash 34700 Dr

Loss on disposal 5100 Dr

Equipment 84400 Cr

Explanation:

First we need to determine the net book value of the equipment at the time of sale. The net book value is the net value after deducting accumulated depreciation from the cost of the asset.

Net Book value = Cost - Accumulated depreciation

Net Book Value = 84400 - 44600 = $39800

If the asset is sold for more than its net book value, there is gain on disposal.

If it is sold for exactly its net book value, there is no gain or no loss on disposal.

If it is sold for less than its net book value, there is loss on disposal.

a.

Gain on disposal = 52700 - 39800 = $12900

b.

No gain or no loss as Net Book Value of the asset equals the amount of cash it is sold for.

c.

Loss on disposal = 34700 - 39800 = - $5100

6 0

3 years ago

1. Russell's of Townville needs to borrow $48,000 for one year. The bank requires a 10 percent compensating balance on any amoun

babunello [35]

Answer:

D. 10.0%

Explanation:

As the bank reqiresd 10% compensating balance the actual amount unrestricted for the loan is 48,000 x (1 - 10%) = 43,200

and from this amount we have to solve for the effective rate:

principal x rate = interest

48,000 x 0.09 = 4,320

now we divide the interest over the actual principal to know the effective rate:

4,320 / 43,200 = 0.10 = 10%

8 0

3 years ago

If Norman invested $100,000 for 3 years at 12%, how much interest on interest will he earn? (Do not round intermediate calculati

Scrat [10]

Answer:

$224.64

Explanation:

Norman invested $100,000, Interest rate 12%, Period 3 years

In compound account, the interest earned by the end of the year qualifies to earn interest. At the end of the period, the interest is added to the principal and earns interest as well.

The interest that Norman earned in the first year was added to the principal amount in the second year, meaning that interest earned some interest in the second and their year of investment. The same happened to the interest earned in the second year.

To calculate the interest earned by the interest, we take the amount after three years, minus the principal amount, minus the simple interest for the three years.

Interest on interest will be the Future value- principal amount- Simple interest.

The amount after three is the compounded value after three years.

compound amount formula FV= PV × (1+r)n

Future value of $100,00 @ 12% after 3 years will be

=5000 x (1+12/100) 3

=5000 x (1+0.12)3

=5000 X (1.12)3

=5000 x 1.404928

=7,024.64

The simple interest earned in the three years equal

Interest = principal x rate x duration

12/100 x 5000 x 3

=0.12 x 5000 x 3

=600 x 3

=$1800

Interest on interest will be :

=$7,024.64 - $5,000- $1,800

=$224.64

7 0

3 years ago