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Sedbober [7]
3 years ago
11

The following information pertains to Torque Corp.'s outstanding stock for 2021: Common stock, $1 par value Shares outstanding,

1/1/2021 60,000 2-for-1 stock split, 4/1/2021 Shares issued, 7/1/2021 30,000 Preferred stock, $10 par value, 6% cumulative Shares outstanding, 1/1/2021 12,000How many shares should Torque use to calculate 2021 basic earnings per share?
Business
1 answer:
azamat3 years ago
7 0

Answer:

135,000 shares

Explanation:

The stock split is the re-denomination of the shares where the number of shares increases without a corresponding increase in shareholders' equity.For instance assigning two shares for each share had earlier with two new shares priced at the price of previous one share,however in calculating the number of shares applicable to basic earnings stock split is treated retrospectively,as if it has always been part of the company's shares

Opening number of shares                                         60,000

add increase due to stock split(2*60,000)-60,000   60,000

new shares half-way through the year 30,000*6/12   15,000

Weighted average number of shares                           135,000          

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1.05 the market place economic
aalyn [17]

A market economy serves as an  economic system in which economic activities is been controlled by individuals.

<h3>What is market economy?</h3>

market economy serves as the economy that that gives country's individual citizens and businesses to be able to make decisions .

This decision could be  pricing of goods and services  which are been controlled  by the interactions of a country's individual citizens.

COMPLETE QUESTION:

Explain market place economy

Learn more about market economy at:

brainly.com/question/11471834

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8 0
2 years ago
From a vantage point very close to the track at a stock car race, you hear the sound emitted by a moving car. You detect a frequ
yuradex [85]

Answer:

The speed of the car is 67.77 m/s and it is moving away from the observer.

Explanation:

The apparent frequency is given as

f' = f\dfrac{ [v - vo]}{ [v - vs]}

Here

o is the  observer

s is the source which is car

v is the speed of  sound  = 343 m/s

f = true frequency emitted by the car (when stationary)

f ' = 0.835 f

so

f' = f\dfrac{ [v - vo]}{ [v - vs]}\\0.835 f= f\dfrac{ [v - vo]}{ [v - vs]}\\0.835 = \dfrac{ [343 - 0]}{ [343 - vs]}\\0.835=\frac{343}{343-x}\\x=-67.77 m/s

The speed of the car is 67.77 m/s and it is moving away from the observer.

5 0
3 years ago
Global Corp expects sales to grow by 9% next year. Assume that Global pays out 50% of its net income. Using the percent of sales
Nookie1986 [14]

Answer:

Global Corporation

Forecasted sales = Current Net Sales x (1 + growth rate)

= $186,200,000 x (1 + 0.09) = $186,200,000 x 1.09 = $202,958,000

Forecasted Net Income = $1,745,438.80 (202,958,000 x 0.86%)

Forecasted Dividend payout = $872,719.40 ($1,745,438.80 x 50%)

Forecasted Retained Earnings = $872,719.40 = $0.87 million

Therefore Forecasted equity = Current Equity + Forecasted Retained Earnings = $22.6 ($21.7 + $0.87)

Explanation:

a) Data and Percentage Calculations:

Income Statement ($million)                           Percentage

Net Sales                                         186.2          100%

Assets Cost Except Depreciation -175.2          94.09%

EBITDA                                              11.0           5.9%

Depreciation and Amortization        -1.1

EBIT                                                    9.9

Interest Income (expense)               -7.7

Pre tax Income                                  2.2

Taxes                                                -0.6

Net Income                                        1.6            0.86%

Dividends paid       50%                  -0.8

Retained Earnings  50%                  0.8

Balance Sheet ($million)

Cash                                                    22.9

Accounts Receivable                           18.1

Inventories                                           15.1

Total Current Assets                          56.1

Net Property, Plant, and Equipment 113.6

Total Assets                                      169.7

Liabilities and Equity

Accounts Payable                             34.4

Long term Debt                               113.6

Total Liabilities                                148.0

Total Stockholders' Equity               21.7

Total Liabilities and Equity            169.7

b) The percent of sales method enables the calculation of the relationship between sales and the line figures in the income statement.  Our interest for this question, is the Retained Earnings which we use to calculate the Stockholders' Equity forecasted balance.  The retained earnings percentage to sales = Retained Earnings as given divided by the net sales figure, and then multiplied by 100.

c) To forecast the sales, we use the growth rate of 9%.  This is equal to the current sales x 1.09.  Based on this sales, it becomes possible to forecast the Retained Earnings, having established the percentage of Retained Earnings to Sales, using the percent of sales method.  We apply the established percentage of Retained Earnings to the Sales figure, to get the Retained Earnings for the forecasted period.  This is then added to the Stockholders' Equity to get the forecasted stockholders' equity.

3 0
3 years ago
3. Why accrue an expense?
statuscvo [17]
Because accrued expenses represent a company's obligation to make future cash payments, they are shown on a company's balance sheet as current liabilities.
8 0
2 years ago
Suppose a monopolist discovers a way to perfectly price-discriminate. Under this scenario, consumer surplus is . What are the ef
natali 33 [55]

Answer:

The correct answer is: zero; zero.

Explanation:

If a monopolist discovers a way to perfectly discriminate, it means that the monopolist will charge equal to the willingness to pay from each consumer.

The consumer surplus is the difference between the maximum price a consumer is willing to pay and the price it actually pays.

Since each consumer is paying price equal to its willingness to pay, the consumer surplus will be zero.

There will be no efficiency costs. The monopolist will sell output where the maximum price the consumer is willing to pay is equal to or greater than the marginal cost. So all efficient trades will occur, there will be no efficiency costs.

4 0
3 years ago
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