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VMariaS [17]
3 years ago
6

Alto Company issued 7% preferred stock with a $100 par value. This means that: Multiple Choice Only 7% of the total paid-in capi

tal can be preferred stock. Preferred shareholders are entitled to 7% of the annual income. The amount of the potential dividend is $7 per year per preferred share. Preferred shareholders have a guaranteed dividend. The market price per share will approximate $100 per share.
Business
1 answer:
Kobotan [32]3 years ago
4 0

Answer:

The amount of the potential dividend is $7 per year per preferred share.  [$100 x 7%] = $7

Explanation:

The preferred stockholder will receive $ 7 per share held each year provided there are sufficient net income to distribute those dividend.

You might be interested in
Kay Company budgets overhead cost of $4,104,000 for the next year. The company uses direct labor hours as its overhead allocatio
Kobotan [32]

Based on the fact that Kay Company will use direct labor hours as its overhead allocation base, the overhead for a product with 5 labor hours is $228.

<h3>What is the overhead assigned to the product?</h3>

This can be found as:

= Total overhead cost / Number of labor hours x Product labor hours

Solving gives:

= 4,104,000 / 90,000 x 5

= 45.6 x 5

= $228

Find out more on assigning overhead costs at brainly.com/question/22812280.

#SPJ1

3 0
2 years ago
Mace Auto Parts Company sells to retail auto supply stores on credit terms of "net 60". Annual credit sales are $300 million (sp
Artist 52 [7]

Answer:

Mace's average collection period is 88 days

Explanation:

Credit terms is "Net 60" which means the customer will naturally pay within 60 days. Further it is given that account average 28 days overdue. This means it takes 28 more days to collect the amount of receivables. Therefore the average collection period comes to

60 + 28 = 88 days.

8 0
2 years ago
Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by d
Bingel [31]

Answer:

d. ​ Skippy’s demand for peanut butter increases today.

Explanation:

The taste and preferences of the consumers are one of the factors affecting the demand for the goods. The demand for goods increases according to tastes and preferences. Another factor of an increase in demand is the expectation of a consumer regarding the future prices of the goods.

In the given scenario, Skippy's demand for the peanut butter will increase because of the above mentioned two reasons. Since he is very much fond of the peanut butter, the demand will remain constant. At the same time, after reading about the future unavailability of the peanut butter and the increase in the price of it, the demand for the peanut butter will rise the present day.

6 0
3 years ago
Which of the following is NOT true of high-technology industries? Select one: a. Later entrants can avoid the mistakes made by f
Zielflug [23.3K]

Answer:

Correct option is B.

First movers have an advantage because their customers avoid switching costs.

Explanation:

First movers have an advantage because their customers avoid switching costs. This is not true about High- Technology Industries.

3 0
2 years ago
Hotel Cortez is an all-equity firm that has 10,900 shares of stock outstanding at a market price of $37 per share. The firm's ma
Stella [2.4K]

Answer:

$32,264.07

Explanation:

The computation of the Break-even EBIT  is shown below:

(EBIT ÷ Number of shares) = (EBIT - Interest) ÷ Number of shares  

(EBIT ÷ 10,900) = (EBIT - $66,000 × 0.08) ÷ (10,900 - (66,000 ÷ $37))

(EBIT ÷ 10,900) = (EBIT - $5,280) ÷ (10,900 - 1,783.78)

(EBIT ÷ 10,900) = (EBIT - $5,280) ÷ (9116.22)

After solving this, the value of break-even EBIT is $32,264.07

6 0
3 years ago
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