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Neko [114]
2 years ago
5

Who is responsible for governing a condominium?

Business
1 answer:
ycow [4]2 years ago
6 0
Unit owners association
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Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common
Galina-37 [17]

Answer and Explanation:

The Preparation of statement of stockholders’ equity is shown below:-

                  <u> Statement of Stockholder's Equity</u>

<u>                          Power Drive Corporation</u>

<u>                For the year ended December 31, 2018</u>

<u>Particulars      Common   Additional    Retained   Treasury   Total</u>

<u>                           stock        paid in          Earning       Stock    Stockholder</u>

<u>                                            capital                                                equity</u>

Jan 1 Balance  100,000  $4,800,000 $2,300,000   0       $7,200,000

Issued common

stock                58,000    $3,132,000      0                 0       $3,190,000

                (58,000 × $1) (58,000 × $54)

Purchase treasury

stock                                                                    -$307,400 -$307,400

                                                                               (5,300 × $58)

Dividends                                              -$251,955                -$251,955

                                        ((100,000 + 58,000 - 5,300) × $1.65)

Sale of Treasury

stock                                  $13,250                       $153,700   $166,950

                                     (2,650 × $5)                   (2,650 × $58)

Net Income                                              $630,000                $630,000

Balance,

December

31            158,000    $7,945,250   $2,678,045  -$153,700 $10,627,595

Total Stockholder's equity  is

= Common stock + Additional paid in capital + Retained earnings - Treasury stock

= 158,000  + $7,945,250  + $2,678,045  - $153,700

= $10,627,595

8 0
3 years ago
Assume Worldwide Cleaning Service had net income of $ 900 for the year. Worldwide Cleaning​ Service's beginning and ending total
g100num [7]

Answer:

return on assets = 20%

Explanation:

given data

net income = $900

beginning total assets = $4600

ending total assets = $4400

solution

we get here return on assets that is express as

return on assets = \frac{net\ income}{average\ assets} × 100   ............1

here average assets will be

average assets = \frac{4600+4400}{2}

average assets = $4500

put here value we get

return on assets = \frac{900}{4500} × 100

return on assets = 20%

4 0
3 years ago
Accounting
kvv77 [185]

Answer:

I cannot see the picture

Explanation:

sorey

8 0
3 years ago
You want to save sufficient funds to generate an annual cash flow of $55,000 a year for 25 years as retirement income. You curre
Fynjy0 [20]

Answer:

The correct answer is $7,056.46

Explanation:

Giving the following information:

You want to save sufficient funds to generate an annual cash flow of $55,000 a year for 25 years as retirement income. How much do you need to save each year if you can earn 7.5 percent on your savings?

Final value= 55,000*25= 1,375,000

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,375,000*0.075)/[(1.075^38)-1]= $7,056.46

5 0
3 years ago
Your parents will retire in 19 years. They currently have $300,000, and they think they will need $1 million at retirement. What
Svetlanka [38]

Answer:

rate = 6.54%

Explanation:

we need to find the rate at which a capital of 300,000 becomes 1,000,000 in a period of time of 19 years.

<u>So we build the following equation:</u>

300,000 (1+r)^{19} =1,000,000

(1+r)^{19} =1,000,000 \div 300,000

r=\sqrt[19]{1,000,000 \div 300,000}-1

rate = 0.065417765 = 6.54% after rounding

This will be the rate my parent will require to generate 1,000,000 in 19 years with their current savings of 300,000.

3 0
3 years ago
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