Ask question

Ask question

All categories

2 years ago

5

A company has 525 shares of $61 par value preferred stock outstanding. It also has 21,000 shares of common stock outstanding, an

d the total value of its stockholders' equity is $716,625. The company's book value per common share equals:

1 answer:

pantera1 [17]2 years ago

7 0

Answer:

$32.6

Explanation:

Please see attachment

You might be interested in

Goods that are normally consumed together, like peanut butter and jelly, are what kind of goods?select one of the options below

BigorU [14]

<span>The answer is a. complementary </span>

5 0

3 years ago

In recent decades, the average level of skills and training possessed by immigrant workers has: A. increased. B. decreased. C. r

Gwar [14]

The average level has increased A

5 0

3 years ago

After the civil war, what became the major form of business organization because of its ability to raise money through the sale

Illusion [34]

After the civil war, CORPORATION became the major form of business organization because of its ability to raise money through the sale of shares of stock. A corporation is a type of business that is owned by stockholders who share its profits but are not personally responsible for its debts.

7 0

3 years ago

On July 1, 20X4, Pillow Corp. obtained significant influence over Sleep Co. through the purchase of 3,000 shares of Sleep's 10,0

puteri [66]

Answer: $18,000

Explanation:

Income from investment is the percentage of the acquired company's income that the company that acquired it will report as their own based on their percentage of ownership.

By purchasing 3,000 shares out of 10,000, Pillow Corp owns;

= 3,000 / 10,000

= 30% of Sleep Co.

These shares were bough on July 1 so the relevant period will be half a year.

At the end of the year, Pillow Corp will report 30% of half of Sleep Co. income as income from investment for the year.

= 30% * 120,000 * 0.5

= $18,000

3 0

3 years ago

Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of $77,000; Ross has a capital of $119,000; and Carol

gtnhenbr [62]

Answer:

A. Carol, Capital is debited for $4,500

Explanation:

The question says to determine amount to be included in the journal entry to record Ronald's withdrawal from the partnership

Assumption: Equal Profit- loss sharing is the agreement between the existing partners.

First premise: Ronald's Capital in the Partnership = $77,000

However, Ronald received a payment of $86,000 meaning that there is an excess of $86,000-$77,000= $9,000

Since the agreement is equal profit and loss sharing, it means each of Ross and Carol will contribute 1/2 of the $9,000.

The journal entry to record this transaction is as follows:

Particulars Debit Credit

Carol Capital Account $4,500

Ross Capital Account $4,500

Ronald Capital Account $9,000

Being the equal contribution of excess amount paid to Ronald on exit from the partnership by Carol and Ross.

Based on the multiple choices, the correct answer is Carol, Capital is debited for $4,500

4 0

3 years ago