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3 years ago

12

The Magnuson-Moss ______ Act directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products

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1 answer:

Montano1993 [528]3 years ago

3 0

Answer: Warrantly

directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products.

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The 7 percent preferred stock of Midwest Muffler and Towing is selling for $65 per share. What is the firm's cost of preferred s

Luda [366]

Answer:

e. 10.77 percent

Explanation:

The computation of the cost of preferred stock is shown below:

Cost of preferred stock = Annual dividend paid ÷ Price of preferred stock per share

= 0.07 × $100 ÷ $65

= 10.77%

Simply we divide the annual dividend after considering the par value per share by the price of preferred stock per share so that the correct cost of preferred stock can be computed

3 0

3 years ago

An electrician charges $50 to make a house call and $40 for each hour worked. if you have $200, can you afford a repair that tak

Neporo4naja [7]

No, it would cost $210.
Each hour charges $40. 4 hours alone is $160.
On top of that, calling the electrician is a flat rate of $50. In total, it would cost $210.

More mathematically, you could set up an equation.

(Price) = $50 + $40 * (hours)

Then plug in 4 hours

price = 50 + 40*4
= 50+160
= 210

4 0

3 years ago

A company has determined that its optimal capital structure consists of 43 percent debt and the rest is equity. Given the follow

ale4655 [162]

Answer:

31.5%

Explanation:

Given from the question kd = 7.0 %

Tax rate = 35 %

P0 = $ 28.86

Growth g = 4.9 %

D1 = $ 0.94

First find the cost of common stock by

rS = D1/P0 + g

=0.94/$28.86 + 0.49

=0.523

= 52.3%

Finally, calculate the weighted average cost of capital WACC,

using rs= 0.523,

Tax rate =43% =0.43

Equity E 100% - 43% = 57% =0.57 and

kd=7.0 % = 0.07

so WACC = (D/A)(1 - Tax rate)kd+(E/A)rs

= 0.43(1 - 0.43)(0.07) + 0.57(0.523)

0.0172 + 0.298

= 0.315

= 31.5%

6 0

3 years ago

Harrington Company was sued by an employee in late 2017. General counsel concluded that there was an 70 percent probability that

insens350 [35]

Answer:

Explanation:

From the given information; the objectives are to:

A. Prepare journal entries for this lawsuit for the years ending December 31, 2017, and December 31, 2018, under (1) U.S. GAAP and (2) IFRS.

B. Prepare the entry(ies) that Harrington would make on the December 31, 2017, and December 31, 2018, conversion worksheets to convert U.S. GAAP balances to IFRS.

A. Journal entries for the lawsuit for the years ending December 31, 2017 and December 31, 2018

1 Under US GAAP Debit Credit

31 Dec, Loss on lawsuit-estimated $34,000

2017 Estimated liability for lawsuit $34,000

(estimated liability provided for lawsuit)

31 Dec, Estimated liability for lawsuit $34,000

2018 Additional loss on lawsuit $33,000

Cash $67,000

(cash paid on settlement)

2 Under IFRS

31 Dec, Loss on lawsuit-estimated $56000

2017 Estimated liability for lawsuit $56000

(estimated liability provided for lawsuit)

31 Dec, Estimated liability for lawsuit $56000

2018 Additional loss on lawsuit $11000

Cash $67000

(cash paid on settlement)

Under US GAAP, if there is a range of possible losses but loss cannot be estimated within that range, the entity will record the low end of the range.

Under IFRS, if loss cannot be estimated with in the range, the entity will record the midpoint of range.

N.B:

Additional loss on lawsuit = 67000 - 34000

Additional loss on lawsuit = 33000

Estimated liability for lawsuit = (32000 + 78000)/2

Estimated liability for lawsuit = 56000

B. Journal entry for conversion from US GAAP to IFRS

31 Dec, Loss on lawsuit-estimated $22000

2017 Estimated liability for lawsuit $22000

31 Dec, Estimated liability for lawsuit $22000

2018 Additional liability for lawsuit $22000

6 0

3 years ago

49. Marcy Company declared a 100% common stock dividend on January 1, 2005, when the market price of the stock was $7.50. The en

expeople1 [14]

Answer:

C) credit Contributed Capital in excess of par, Common Stock, $25,000

Explanation:

Missing word <em>"Preferred Stock - 6% cumulative, $20 par value, 10,000 shares authorized, 5,000 shares issued and outstanding . .$100,000. Contributed Capital in excess of par value, Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000. Common Stock, $5 par value, 20,000 shares authorized, 10,000 shares issued and outstanding. . . . . . . . . . . . . . . . . 50,000. Contributed Capital in excess of par value, Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 450,000. Total Contributed Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 850,000. Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150,000. Total Stockholders' Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,000,000"</em>

The journal entry to record the stock dividend will be:

Date Account Titles Debit Credit

Retained earnings $75,000

(10000*7.50*100%)

Common stock dividends distributable $50,000

(10000*100%*$5)

Contributed Capital in excess of par value, $25,000

Common Stock (10000*100%*(7.5-5))

4 0

3 years ago