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During 2021, Sysco Corp. had 950,000 shares of common stock and 100,000 shares of 7% preferred stock outstanding. The preferred

solong [7]

Answer:

c. $6.03

Explanation:

Earnings available to common shareholders

Net Income $6,000,000

Less: Preference dividend $200,000

Net Income available to common shareholders $5,800,000

Number of Common shares = 950,000

Equivalent common shares for convertible 5% Bonds = 10,450. [Number of bonds = 2,100,000/1,000 = 2,100 shares. Equivalent common shares = 2,100 * 5 = 10,500 shares]

Weighted average number of common shares outstanding = 950,000 + 10,500 = 960,500

Earnings per share = Earnings available to common shareholders / Weighted average number of common shares outstanding

Earnings per share = $5,800,000 / 960,500

Earnings per share = 6.038521603331598

Earnings per share = $6.04

8 0

3 years ago

Which of the following statements is correct?a. The role of Finance is to use the numbers developed through accounting to aid in

olganol [36]

Answer:

a. The role of Finance is to use the numbers developed through accounting to aid in decision making.

Explanation:

Finance department is solely responsible for making any conclusions from the financial statements.

Accounts basically helps in maintaining and preparing the financial statements and it represents the true and fair view.

But all the conclusions are drawn by the finance department.

That is the basic role of financing to help the management, draw conclusions and from such conclusions the decisions for further running the business.

3 0

3 years ago

Maria has to choose between driving and taking a train to destination A. Travelling by train will cost her $400 and will take 4

dlinn [17]

Answer:

None of the options are correct

Explanation:

The train would cost her, which is computed as:

= Cost + (Hours × Opportunity Cost)

= $400 + (4 hours × $15 per hour)

= $400 + $60

= $460

The driving would cost her, which is computed as:

= Cost + (Hours × Opportunity Cost)

= $250 + (6 hours × $15 per hour)

= $250 + $90

= $340

Savings = Train Cost - Driving Cost

= $460 - $340

=$120

None of the options are correct as the she would save $120.

4 0

3 years ago

Curfew is an example of a workplace policy. True False

BartSMP [9]

Your answer would be False, it's not an example of a workplace policy.

8 0

3 years ago

Read 2 more answers

Started business with cash rs 30000 and bank balance rs 50000

olga2289 [7]

Answer and Explanation:

The journal entry is shown below:

Cash Dr 30,000

Bank Dr 50,000

To Capital 80,000

(Being cash and bank brought into the business)

Here the cash and bank is debited as it increased the assets and credited the capital as it also increased the equity

7 0

3 years ago