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Studentka2010 [4]
3 years ago
5

At December 31, 2020 Rice Company had 300000 shares of common stock and 10000 shares of 6%, $100 par value cumulative preferred

stock outstanding. No dividends were declared on either the preferred or common stock in 2020 or 2021. On January 30, 2022, prior to the issuance of its financial statements for the year ended December 31, 2021, Rice declared a 100% stock dividend on its common stock. Net income for 2021 was $1140000. In its 2021 financial statements, Rice's 2021 earnings per common share should be
Business
1 answer:
hodyreva [135]3 years ago
4 0

Answer:

$1.80 per share

Explanation:

The computation of the earning per share is shown below:

Earning per share = (Net income - preference dividend) ÷ (weightage number of outstanding shares)

where,

Net income is = $1,140,000

Preference dividend is

= 10,000 × $100 × 6%

= $60,000

Weighted number of shares is

= 300,000 shares + 300,000 shares as 100% stock dividend is declared

= 600,000 shares

So the earning per share is

= ($1,140,000 - $60,000) ÷ (600,000 shares)

= $1.80 per share

We simply applied the above formula

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President obama announced a $100,000,000 humanitarian aid package to haiti to support its earthquake relief. england's parliamen
Julli [10]

Answer: The parliament is likely to allocate £ 1,23,93,800.62

We arrive at the answer as follows:

Amount allocated by President Obama    $100,000,000

Amount England wants to contribute        20% of President Obama's allocation

Amount England wants to contribute in USD  =

                                              0.2 * 100,000,000 = USD 2,00,00,000  

Exchange Rate                                      $1. 61371/1 pound sterling

We can read the problem as if $1.61371 is equal to 1 pound sterling, how many pound sterlings are equal to $2,00,00,000?

Let number of pound sterlings be x

So, \frac{1.61371}{1}= \frac{100000000}{x}

x = \frac{100000000}{1.61731}

x = 1,23,93,800.62


3 0
3 years ago
The majority of private sector employment in the u.s. economy is in the
sasho [114]
The majority of private sector employment in the u.s. economy is in the services.
The private sector is the part of the economy, generally pertain to as the citizen sector. Which is ruled by private individuals or groups, usually as a means of firm for profit and it is not regulated by the State.
6 0
3 years ago
What is the basic objective of monetary policy? What are the major strengths of monetary policy? Why is monetary policy easier t
Mars2501 [29]

Answer: The answers to the question are provided below.

Explanation:

The basic objective of the monetary policy is to achieve economic growth, full employment, and price stability in an economy. The major strengths of the monetary policy are its flexibility and speed when compared to fiscal policy. Monetary policy is faster to implement and brings about desired changes faster.

Monetary policy is easier to conduct than fiscal policy because:

• Monetary policy is implemented by independent monetary authorities. Therefore, unpopular decisions such as the increase of interest rates to decrease inflationary pressure can be used.

• Fiscal Policy is the use of taxation and government spending to control economic activities but it is difficult to get a department that is willing to have its spending cut in order to help the economy.

• Increasing taxes will always be unpopular among individuals and firms and increasin corporations and income tax may lead to supply side effects. For example, increasing income tax may lead to the reduction in the incentives to work.

Fiscal and monetary policies are both effective. In a deep recession and a liquidity trap, the fiscal policy can be more effective than the monetary policy because the government creates job, pays for new investment schemes, rather than relying on the use of monetary policy to indirectly motivate businesses to invest. Likewise, the monetary policy is also more flexible and faster.

4 0
3 years ago
Professor’s Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of $74,000 at age 65, the firm will pa
photoshop1234 [79]

Answer: 0.10%

Explanation:

The following can be gotten from the question:

n = 15 years

We change it to months. Thus will be:

= 15 × 12

= 180

Present value of an annuity :

= A × {1- (1 +r ) -n ]/r}

74000 = 450 × [ 1- (1 +r) - 180]/r

r= 0.10%

Therefore, the monthly interest rate is 0.10%.

8 0
3 years ago
The expected date of confinement (eds) is usually estimated by a formula called:
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