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jeyben [28]
3 years ago
15

The balance of stockholder's equity at the beginning of the year and the end of the year was 70,000 and 60,000, respectively. Th

e company issued no common stock during the year. Dividends were 22,000. What was the net income or loss for the year?
Business
1 answer:
ivann1987 [24]3 years ago
6 0

Answer: 12,000

Explanation:

Given that,

Stockholder's equity at the beginning of the year = 70,000

Stockholder's equity at the end of the year = 60,000

Dividends = 22,000

Net Income = Ending Balance + Dividends - Beginning Balance

                    = 60,000 + 22,000 - 70,000

                    = 12,000

Therefore, the net income for the year was 12,000.

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Maxwell Feed & Seed is considering a project that has the following cash flow data. What is the project's IRR? Note that a p
Kay [80]

Answer:

13.31%

Explanation:

some information is missing:

Year        Cash flows

0              −$1,100

1                  $450

2                 $470

3                 $490

the easiest way to calculate the IRR is by using a financial calculator, IRR = 13.31%

but if we don't have one at hand, the IRR is the discount rate at which a project's NPV = 0

1,100 = 450/(1 + r) + 470/(1 + r)² + 490/(1 + r)³

to simplify the formula we must use trial and error:

since we already know the real IRR, I will start with a close number like 10%

1,100 = 450/(1 + 0.1) + 470/(1 + 0.1)² + 490/(1 + 0.1)³

1,100 = 409.09 + 388.43 + 368.14

1,100 ≠ 1,165.66

since the NPV is still positive, we must increase the discount rate. following the example we can use 12%

1,100 = 450/(1 + 0.12) + 470/(1 + 0.12)² + 490/(1 + 0.12)³

1,100 = 401.79 + 374.68 + 348.77

1,100 ≠ 1,125.24

we must increase the discount rate even more to 13%

1,100 = 450/(1 + 0.13) + 470/(1 + 0.13)² + 490/(1 + 0.13)³

1,100 = 398.23 + 368.08 + 339.59

1,100 ≠ 1,105.90

we keep increasing the discount rate to 14%

1,100 = 450/(1 + 0.14) + 470/(1 + 0.14)² + 490/(1 + 0.14)³

1,100 = 394.74 + 361.65 + 330.74

1,100 ≠ 1,087.13

since now the NPV is negative, the discount rate must be between 13-14%

we continue this way until we finally reach 13.31%

4 0
3 years ago
society that lives a nomadic Life and relies on domesticated animals A. pastoral society B. organic solidarity C. Agricultural D
marta [7]

Answer: Pastoral society

Explanation:

A pastoral society is a social community made up largely of nomads whose major activities are centered around animal breeding and herding.

The major product for sale in a pastoral society is livestock, such as: cattles, goats, sheep, horses, camel etc.

5 0
3 years ago
X Company must replace one of its current machines with either Machine A or Machine B. The useful life of both machines is seven
Anastaziya [24]

Answer: 0 years

Explanation:

The payback period calculates the amount of time taken to recoup the initial investment made in a project or in the purchase of a machine or building. It calculates how long the cumulative cash flow generated from a project equals the cost of the project.

The payback period for both machines are zero years because the cumulative cash flow is less than the cost of the machine.

For machine A - cumulative cash flow- $-47,000 is less than -$71,000

For machine B - cumulative cash flow, -$7,000 is less than -$52,000

Explanations on how the figures were derived is found in the attached tables.

7 0
3 years ago
A liability would be credited and an expense would be debited if the business
kolezko [41]
The correct answer is letter B. Incurred an expense and didn't pay the expense immediately.
8 0
3 years ago
What economic system focused on exports and acquiring precious metals?.
mezya [45]

Answer: Mercantilism is an economic practice by which governments used their economies to augment state power at the expense of other countries. Governments sought to ensure that exports exceeded imports and to accumulate wealth in the form of bullion (mostly gold and silver).

Explanation:

5 0
2 years ago
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