Answer:
See below
Explanation:
Given the above,
The retained earnings for June 2017
If net profit = retained earnings + dividend
Retained earnings = earnings - dividend payout
$403,000 - $225,794
= $177,206
Therefore, the retained earnings on it's balance sheet on July 1 2013 would be;
= Total retained earnings at the end of the fiscal year 2017 - Retained earnings
= $847,042 - $177,206
= $669,836
Six years ago, Angie invested $50,000 that she inherited from her grandfather into a growth stock mutual fund. Each share of the fund cost $22/share. Yesterday, she perused a mutual fund quote on the Internet. The quotation showed (1) Year To Date Return; (2) Yield; (3) Net Asset Value; (4) Previous Close. Which of these will provide her with an indication of the present price per share she can expect to realize if she calls her broker tomorrow morning and asks her to sell the shares? Group of answer choices:
Answer:
Six years ago, Angie invested $50,000 that she inherited from her grandfather into a growth stock mutual fund. Each share of the fund cost $22/share. Yesterday, she perused a mutual fund quote on the Internet. The quotation showed - Net Asset Value (Option 3).
Explanation:
The Net Asset Value (NAV) reveals the market price for a share of Angie's mutual fund. It is calculated each evening at the close of the trading day. All other shares purchased the following day are traded at the Net Asset Value, calculated the night before and the prices of mutual funds do not fluctuate during the day.
Thus, option 3 is the correct answer choice.
Share holders since they have a share of the company
Answer:
There are at least 2 opportunity costs associated with of letting your colleague have another month:
- if you invested in the oil-well venture, you could have earned $5,100 x 36% = $1,836 in one year
- if you invested in the new IT stock, you could have earned $5,100 x 48% = $2,448 in one year
You could invest in one of these options, or divide your money and invest in both options, e.g. invest $2,000 in the oil company and $3,000 in the IT company. Each different investment proportion results in a different opportunity cost.
Explanation:
Opportunity costs are the benefits lost or extra costs associated to carrying out an investment or activity instead of another alternative. Sometimes you might have several opportunity costs for one investment, e.g. invest in the IT company which is risky, invest in corporate bonds which is less risky or invest in US securities which is a safe investment.
Answer:
a. FIFO - Inventory Used: $39900 Remaining Inventory: $14700
b. LIFO - Inventory Used: $41700 Remaining Inventory: $12900
c. Weighted Average Cost - Inventory Used: $40950 Remaining Inventory: $13650
Explanation:
Jan 01. Beginning inventory = 40 x $165 = $6600
Aug 13. Purchases 200 x $180 = $36000
Nov 30. Purchases 60 x $200 = $12000
Ending inventory = 75 units
Inventory Used = 300 – 75 = 225
(a) First-In-First-Out (FIFO)
This is the method where the inventory first received is the one that is used first. Common method when the inventory is perishable and would be wasted if left too long.
Inventory Used:
40 x $165 = $6600
185 x $180 = $33300
Total = $39900
Remaining Inventory:
15 x $180 = $2700
60 x $200 = $12000
Total = $14700
(b) Last-In-First-Out
Method whereby the inventory received latest is used first. Common in goods that are bulky. the inventory on top (latest purchased) is used first.
Inventory Used:
60 x $200 = $12000
165 x $180 = $29700
Total = $41700
Remaining Inventory:
40 x $165 = $6600
35 x $180 = $6300
Total = $12900
(c) Weighted Average Cost
This is whereby you divide the cost of goods sold by the number of units available for sale.
54,600 / 300 = $182
Inventory Used: 225 x $182 = $40950
Remaining inventory = 75 x $182 = $13650