The primary survey line running east and west in the rectangular survey system is the:

Shaffer Corporation issued 180, $1,000, 10% convertible bonds in 2019 at face value. Each bond is convertible into 100 shares of

Vlad1618 [11]

Answer:

$1.71 per share

Explanation:

Earning per share is the per share rate of net earning for the period after deducting any preferred dividend. We use average common shares outstanding to calculate the Basic EPS. Formula for the Basic EPS is as follow:

Basic EPS = ( Net Income - Preferred Dividend ) / average common shares outstanding

As we do not have any preferred share, placing value in the formula

Basic EPS = ( $3,100,800 - $0 ) / 1,818,000

Basic EPS = $1.71 per share

The convertible bonds are incorporated in the calculation of diluted earning per share.

7 0

3 years ago

A prosperous economy tends to struggle with high rates of crime, substance abuse, insecure employment, and family dissolution. S

GaryK [48]

Answer:

TRUE

Explanation:

Remember that a prosperous economy does not imply the most happy country or economy.

Therefore high rates of crime, substance abuse, insecure employment, and family dissolution may exist, but the scale in which this occurs may be relatively lower when compared to a poor economy.

For example, the scale of such vices in United States is lower than in Mexico a poorer economy.

8 0

4 years ago

The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as fol

larisa86 [58]

Answer:

1. Journal Entries

January 1

Dr. Inventory $624,000

Cr. Account Payables $624,000

January 10

Dr. Account Receivables $532,000

Cr. Sales $532,000

January 28

Dr. Account Receivables $175,000

Cr. Sales $175,000

Dr. Cost of Goods Sold $276,400

Cr. Inventory $276,400

January 30

Dr. Cost of Goods Sold $97,500

Cr. Inventory $97,500

February 5

Dr. Account Receivables $70,000

Cr. Sales $70,000

Dr. Cost of Goods Sold $39,000

Cr. Inventory $39,000

February 10

Dr. Inventory $1,360,000

Cr. Account Payable $1,360,000

February 16

Dr. Account Receivables $1,319,500

Cr. Sales $1,319,500

Dr. Cost of Goods Sold $718,100

Cr. Inventory $718,100

February 28

Dr. Account Receivables $1,261,500

Cr. Sales $1,261,500

Dr. Cost of Goods Sold $696,000

Cr. Inventory $696,000

March 5

Dr. Inventory $1,166,880

Cr. Account Payables $1,166,880

March 14

Dr. Account Receivables $1,421,000

Cr. Sales $1,421,000

Dr. Cost of Goods Sold $793,040

Cr. Inventory $793,040

March 25

Dr. Inventory $246,000

Cr. Account Payable $246,000

March 30

Dr. Account Receivables $1,145,500

Cr. Sales $1,145,500

Dr. Cost of Goods Sold $644,640

Cr. Inventory $644,640

* Assuming Purchases and Sales are made on Account

2.

Sales Value = $5,924,500

Opening Inventory = $175,000

Closing Inventory = $307,200

Purchases = $3,396,880

Cost of Goods Sold = $3,264,680

Gross Profit = $2,659,820

3.

As the prices are increasing the Inventory value using last-in, first-out will be lower because all the unit sold at last are sold and inventory of the old items which was purchased on the lower cost remains in the closing inventory. The cost of Goods sold will be higher in this case.

Explanation:

First In First out (FiFO) is an Inventory method which determines the inventory value and it requires that the unit purchased first will be sold first.

Cost of Goods Sold = Opening Inventory + Purchases - Closing Inventory

Cost of Goods Sold = $175,000 + $3,396,880 - $307,200 =

Gross Profit = Sales Value - Cost of Goods Sold

Gross Profit = $5,924,500 - $3,264,680

Gross Profit = $2,659,820

Inventory Working is made in a MS Excel File, which is attached with this answer please find it.

Download xlsx

6 0

4 years ago

Ruby is 25 and has a good job at a biotechnology company. She currently has $10,000 in an IRA, an important part of her retireme

kirill115 [55]

Answer:

a. How much will Ruby’s IRA be worth when she needs to start withdrawing money from it when she retires?

the future value of Ruby's IRA = $10,000 x 21.725 (FV factor, 8%, 40 periods) = $217,250

b. How much money will she have to accumulate in her company’s 401(k) plan over the next 40 years in order to reach her retirement income goal?

she needs to accumulate $875,000 - $217,250 = $657,750 during the next 40 years

the annual contribution = FV / FV annuity factor = $657,750 / 259.057 (FV annuity factor, 8%, 40 periods) = $2,539.02 per year

6 0

3 years ago

Skullcandy makes headphones. For 2016 it plans to offer a new product line of wireless headsets to the marketplace. It planned o

Yuki888 [10]

This is an example of a company’s: objective.

Explanation:

Objective is an aim to achieve something. Objectives explains what are to be done.

A company's objectives describe the goals that are to be achieved by the organization. The strategies will also be defined to achieve the goal. The resources, material and finance to achieve our goal are also defined to reach the objective. The company defines its objective to increase their success rate.

In the above scenario, Skullcandy decides to launch its new product- a wireless headset. The company decides to increase its market share by releasing the new product. This shows the objectives of the company.

4 0

3 years ago