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Marizza181 [45]
3 years ago
6

At the beginning of the current year, X Company had assets of $600, liabilities of $300, and common stock of $100. During the cu

rrent year, the company earned revenue of $750, incurred expenses of $500, and paid dividends of $100. All transactions were cash transactions. 1. The amount of net income reported on the income statement for the current year would be:
Business
1 answer:
Viefleur [7K]3 years ago
6 0

Answer:

$250 is the answer

Explanation:

As we want to calculate here the net income which could be found from the following formula:

Net Income or Profit = Sales  -  Expenses

In this case the sales figure is $750 and the expenses are $500.

By putting the values we have

Net Income = $750 - $500 = $250

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Kingbird, Inc. has 10,600 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividend
Rina8888 [55]

If Kingbird wants to pay $420,000 of dividends in 2022. The amount of dividends that the common stockholders will receive is $133,800.

<h3>Dividends </h3>

Using this formula

Remainder allocation to common stockholders=[Total dividend – (Dividiend  in arrears + 2022 dividend)

Let plug in the formula

Remainder allocation to common stockholders=[$420,000 – (10,600×9%×100×2)+(10,600×9%×100)

Remainder allocation to common stockholders=[$420,000 – ($190,800+ $95,400)]

Remainder allocation to common stockholders=[$420,000 –$286,200]

Remainder allocation to common stockholders=$133,800

Therefore the amount of dividends will common stockholders receive is $133,800.

Learn more about dividends here:brainly.com/question/14076997

8 0
1 year ago
Criminal law is concerned with a. the prosecution of private individuals by other private individuals. b. the prosecution of pub
Agata [3.3K]

Answer:

d.

Explanation:

Criminal law is a branch of the United States Justice System which deals with all types of crimes. Criminal law is mostly concerned with wrongs committed against the public as a whole. Such crimes include anything that can be perceived as being threatening or harmful to the property, health or safety of the population or an individual.

4 0
3 years ago
You purchased stock for $18,000 ten years ago. Now the stock is worth $25,000. What was your annual rate of return?
Paraphin [41]

Answer:

3.3%

Explanation:

The yearly rate of return is calculated by taking the amount of money gained or lost at the end of the year and dividing it by the initial investment at the beginning of the year.

DATA

Future value = $25,000

Present value = $18,000

Time = 10 years

Formula:

Annual return = (\frac{futurevalue}{presentvalue}) ^{1/time} -1

Annual return = (\frac{25000}{18000}) ^{1/10} -1

Annal return = 3.3%

6 0
2 years ago
Which of the following transactions is reported on the government-wide financial statements? Multiple Choice An interfund loan f
Anettt [7]

Answer:

The correct answer is the third option: The City Airport Fund, an enterprise fund, transfers a portion of boarding fees charged to passengers to the General Fund.

Explanation:

To begin with, the name of "government-wide financial statements" is refered to the type of statements that bring all the financial activity together in one single place with the purpose to report certain economic information so that the people in charge of certain things can go and see all that information in order to use as a tool for the decision making process when the case arise. Moreover, this type of statements are the ones who organized all that information depending on whether it comes from the activities done by the government or done by the companies and businesses of the nation.

4 0
3 years ago
Consider Country (Z) with a GDP level of 210,000 and a growth rate of 5% in 2019 (i.e. calculated at the end of year 2019). The
Natasha2012 [34]

Answer:

Country (Z) GDP Growth:

a) The GDP will double in:

2019 - 2022 = 3 years

2022 - 2025 = 3 years

2025 to 20 years as determined below

Total = 26 years

The GDP will double in 26 years.

b) The growth rate from 2025 and so on at 1% will approach 27.62% based on the 2019 GDP.  The approach used is to determine the difference between the after 2025 GDP and the 2019 GDP.  This difference (growth in absolute terms) is divided by the 2019 GDP, and then multiplied by 100 to obtain the rate.

c) If the growth rate of 5% is sustained, it will take the GDP 15 years to double:

420,000 = G₀(1 + g)ⁿ

420,000 = 210,000 (1 + 5%)ⁿ

Solving for n with an online calculator,

n = 15 years

Check:

210,000 x 2.079

= 436,590

= 437,000 approx.

As a number of years = 15 years

As a fraction of part a answer = 15/26 = 57.69%

Explanation:

a) 2019 Country Z's GDP = 210,000

2019  - 2022 Growth rate = 5%

Future growth rates:

2022- 2025 = 3%

2025 - so on = 1%

Let Country (Z's) GDP in 2019 = G₀ which is equal to 210,000

n = number of years from 2019 to 2022, 2022 to 2025, and so on.

g = growth rate = 5% for the period 2019 to 2022

Gⁿ = GDP in n years at given rates

Gⁿ = G₀(1 + g)ⁿ

(1 + g)ⁿ = increase in GDP as a result of the growth rate and number of years

b) With GDP growth of 5% from 2019 to 2022, the GDP will be

= 210,000 (1 + 5%)³

= 210,000 x 1.158

= 243,000 approx.

c) From 2022 to 2025 at 3%, the GDP will be

= 243,000 (1 + 3%)³

= 243,000 x 1.093

= 265,600

For GDP to double the 2019 GDP with 3% growth = 420,000 (210,000 x 2) or more

GDP = Gⁿ = G₀(1 + g)ⁿ

420,000 = 243,000 (1 + 3%)ⁿ

solving for n with an online calculator,

n = 20

Check:

= 243,000 (1 + 3%)∧20

= 243,000 x 1.817

= 441,531

= 442,000

4 0
3 years ago
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