Answer: Please refer to Explanation
Explanation:
This is how the stockholders' equity section of the balance sheet at December 31 should look like,
STOCKHOLDERS'S EQUITY
Contributed Capital
Common Stock (29000 shares x $ 1 par) $29,000
Preferred Stock (19500 shares x $ 10 par) $195,000
Paid in Capital in excess of Common Stock at par ($841000 - $29000) $812,000
Paid in Capital in excess of Preferred Stock at par (19500 shares x ($39 - $10)) $565,500
Total Contributed Capital (sum of all of the above) $1,601,500
Retained Earnings ( $59,000 - $10,000) $49,000
Total Stockholder's Equity (Retained Earnings to contributed cap) $1,650,500
If you need any clarification do comment.
Answer:
Interest = $5,834.67
Explanation:
In November 1, the note bears 12 month = 7%
From November 1 to December 31 = 2 month
Hence for 2 month Interest = 2 * 7/12(%) = 1.1667%
Thus, interest = $500,100 * 1.1667%
Interest = 5834.6667
Interest = $5,834.67 approximately.
Calculate total variable cost by multiplying the cost to make one unit of your product by the number of products you've developed. For example, if it costs $60 to make one unit of your product, and you've made 20 units, your total variable cost is $60 x 20, or $1,200.
Hope this helps have a great day :)
Answer:
Identification of the Internal Control Weaknesses:
A. There is no segregation of duties and there is lack of access control. Jerry Miller as a security guard is not expected to have a master key to the cash box. With this he can pilfer the cash. If he prepares the report that shows the number of cars that parked on the lot, he is not supposed to also prepare the day's cash receipts. Otherwise, he can state any number of cars as parked that he likes, and which corresponds to the cash he might leave in the Cash box since he also has a master key.
B. There is no segregation of duties and there is lack of supervision, proper reconciliations, and assets audit. Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party. This exposes the company to procurement frauds and collusion with suppliers. She can purchase assets for the company at prices that would enrich her personally.
C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks. While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements. An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions. He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.
Explanation:
Internal Controls are controls established by management in order to help it achieve business goals. There are many internal controls, including Separation of Duties, Access Controls
, Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups. The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.
There are 210 ways that he can consume fruits. This can determined using the concept of factorial in mathematics.
Factorial, in mathematics, the product of all positive int or numbers less than or equal to a given positive int or number and denoted by that integer and an interjection point. therefore, factorial seven is written seven!, meaning one × 2 × 3 × 4 × 5 × six × seven.
Factorial zero is defined as equal to one.
Here, we have given the student has three mangoes, two papayas and two kiwi fruits.
so in total he has (3 plus 2 plus 2) =7 fruits.
Let all the fruits be eaten. If he eats one fruit each day then it will take seven days to complete this process.
So according to one popular permutation type where , n=7, n1(mangoes)=3, n2(papayas)=2, n3(kiwi)=2.
Using factorial, number of ways =7!/(3!2!2!) =210
Learn more about factorial here:
brainly.com/question/25997932
#SPJ4
