Answer:
(a) Annual dividend = Dividend rate × par value × number of shares outstanding
= 7% × $60 × 40,000
= $168,000
Semi‑annual dividend = 
= 
= $84,000
(b) Annual dividend = Dividend rate × number of shares outstanding
= $5.20 × 171,600
= $892,320
Arrears of $892,320 are owed for last year as well, so the total dividends owed would be:
$892,320 × 2 years
= $1,784,640
(c) Annual dividend = Dividend rate × stated value × number of shares outstanding
= 4.8% × $100 × 445,000
= $2,136,000
Quarterly dividend = =
= 
= $534,000
The following that most strongly implied by this information is that at the current level of production, the firm is making a profit of $3000. Jake and Mathew will most likely agree on The firm should increase production from the current level. Mathew is assuming that no new firms enter the market in the short run.
Answer: $14371.6
Explanation:
Given that,
According to FIFO method,
Marvin sold = 1,900 units of inventory during the month
Cost of Beginning inventory = 990 × $7.25
= $7177.5
on Mar. 10
Cost of Purchase = 570 × $7.73
= $4,406.1
Remaining purchases = Total units sold - Beginning inventory - number of units purchase on mar 10
= 1,900 - 990 - 570
= 340 units
Cost of remaining purchases = 340 units × $8.2
= $2,788
Total cost of goods sold = Cost of Beginning inventory + Cost of Purchase + Cost of remaining purchases
= $7177.5 + $4,406.1 + $2,788
= $14371.6
Answer and Explanation:
The adjusting entries are shown below:
1. Accounts Receivable $13,680
To Fees Earned $13,680
(Being Accrued fees earned is recorded)
2. Supplies Expense $3,210 ($4500 - $1290)
To Supplies $3,210
(Being Supplies used is recorded)
3. Wages Expense $1,720
To Wages Payable ($1,720
(Being Accrued wages is recorded)
4. Unearned Rent $4,470 ($13,410 ÷ 3 month)
To Rent Revenue $4,470
(Being rent earned is recorded)
5. Depreciation Expense $2,280
To Accumulated Depreciation- Equipment $2,280
(Being Depreciation expense is recorded)
Answer:
Sales $480,000
<em>Less: Expenses (Bal Figure) $419,500</em>
Less: Write Off Account <u>$7,700 </u>
Net Income <u>$52,800</u>
If Allowance Method Is Used
Sales $480,000
Less: Expenses $<em>419,500</em>
Less: Write Off Account (1.5% of 480,000) <u>$7,200</u>
Net Income <u>$53,300
</u>
