A) Divisibility can easily be divided into smaller value.
Answer:
$8,100
Explanation:
As per the data given in the question, first we have to determine the total cost and per unit cost for allocation made to Loin chops which are shown below:
Total cost = cost of loin + cost of chops + cost of ground + cost of bacon
= ($2,700 × 5) + ($9,000 × 2) + ($3,750 × 4.6) + ($7,500 × 3.5)
= $75,000
Therefore, per unit cost is
= Total joint Cost ÷ total cost
= $45,000 ÷ $75,000
= $0.6
Hence allocation to loin chops is
= ($2,700 × 5) × $0.6
= $8,100
Answer:
Earnings per Share is $1.246 per share
Explanation:
Earnings per share (EPS) determines the company's earnings for the number of shares of its stocks. In the case where the EPS is high, then the investors would pay more for the shares of the company.
It is calculated by dividing the Net income after tax by the total number of outstanding common shares. In this question, we will first calculate Net income after tax, as we are provided Net Income before tax. Then we will calculate EPS.
ss
Net income after Tax = 747,600 x (1 - 0.3)
Net income after Tax = $523,320
Earnings per Share = Net Income after Tax / No. of outstanding common shares
Earnings per Share = 523,320 / 420,000
Earnings per Share = $1.246 per share
Answer:
Anderson Co. 3,100 shares at $18 per share
Munter Ltd. 10,200 shares at $57 per share
King Co. 5,600 preferred stock at $42 per stock
a. Prepare the entry for the security sale on January 15, 2021.
- Dr Cash 58,880
- Cr Investment in Anderson Co. stock AFS 52,200
- Cr Realized gain on stock AFS 6,680
b. Prepare the journal entry to record the security purchase on April 17, 2021.
- Dr Investment in Castle's stock AFS 38,160
- Cr Cash 38,160
c. Compute the unrealized gains or losses.
- unrealized gain = $40,800 (gain in Munter) - $11,200 (loss in King) - $13,960 (loss in Castle) = $15,640
d. Prepare the adjusting entry for Vaughn on December 31, 2021.
- Dr Investment in Munter's stock 40,800
- Cr Investment in King's stock 11,200
- Cr Investment in Castle's stock 13,960
- Cr Unrealized gain - other comprehensive income 15,640
