Answer:
The effective annual rate is 5.57%
Explanation:
The interest rate that is actually earned or paid on investment or loan including the compounding effect over a given period of time. It is also known as rate.
Effective interest rate = [ ( 1 + r/m )^m ] - 1
Effective interest rate = [ ( 1 + 5.42%/12 )^12 ] - 1
Effective interest rate = [ ( 1 + 0.0542/12 )^12 ] - 1
Effective interest rate = 0.055567 x 100
Effective interest rate = 5.5667% = 5.57%
Answer:
Preference dividend = 9% x $65 x 5,700 shares
= $33,345
Dividend paid to ordinary shareholders = $50,000 - $33,345
= $16,655
Explanation:
The dividend paid to preferred stockholders is 9% of the par value multiplied by number of preferred stock outstanding. The dividend paid to common stockholders is the difference between total dividend paid and dividend paid to preferred stock holders.
Answer: true
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Answer:
Explanation:
The journal entry is shown below:
On January 1, 2017:
Unearned compensation A/c Dr $120,000
To Common stock (4,000 × $3) $20,000
To Paid-in capital in excess of par value $100,000
(Being restricted stock is issued and the remaining balance is credited to the paid-in capital)
On December 31, 2018:
Compensation expenses A/c Dr $30,000
To Unearned compensation $30,000
(Being compensation expenses are recorded)
The compensation expenses is computed below:
= (Fair value of stock) ÷ (number of years)
= ($120,000) ÷ (4 years)
= $30,000
