Answer:
Total Stockholders' Equity = $2,334,370
Explanation:
Note: See the attached excel file for the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2018 with all the formulae used.
In the attached excel file, the retained earnings is calculated as follows:
Retained earnings = Net income – Common dividends - Preferred dividends = $149,000 - $94,000 - $1,330) = $53,670
From the attached excel file, we have:
Total Stockholders' Equity = $2,334,370
The second one is the best chance to be self employed at because logisticians require a degree and there is less call for them.
Answer:
$7,000
Explanation:
Calculation for the depreciation expense for the second year
Depreciation rate will be:
2/7 = 29%
$34,000 × 29% = $9,860
The depreciation in the first year will be $9,860
Thus,
($34,000 - $9,860) × 29%
$24,140×29%
= $7,000
Therefore the depreciation expense for the second year will be $7,000
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Answer:
1. a. 4.081%
2. c. $23,536.36
Explanation:
1. Periodic rate=(4.4%/4) = 1.1%
EAR=(1+APR/m)^m-1
where m=compounding periods
= (1+0.044/4)^4-1
= 1.011^4 - 1
= 1.04473133864 - 1
= 0.04473133864
= 4.47%
EAR=(1+APR/m)^m-1
where m=compounding periods
=(1+0.04/365)^365-1
= (1+0.00010958904)^365 - 1
= 1.00010958904^365 - 1
= 1.04080849272 - 1
= 0.04080849272
= 4.081%
2. A=P(1+r/365)^365*n
where A=future value, P=present value, r=rate of interest, n=time period.
= 22000*(1+9%/365)^(9/12*365)
= $23,536.36
