Which of the following is typically not a

You want a seat on the board of directors of Four Keys, Inc. The company has 265,000 shares of stock outstanding and the stock s

Mila [183]

Answer:

44,167.67 shares

Explanation:

Given that

Number of shares of stock outstanding = 265,000

Sale value per share of stock = $76

Number of seat for election = 5

So by considering the above information, the number of shares needed by using the cumulative voting is

= {shares outstanding ÷ (number of seats + 1) + 1}

= {(265,000 shares ÷ (5 +1) +1}

= 44,167.67 shares

5 0

3 years ago

Concord Company had bonds outstanding with a maturity value of $311,000. On April 30, 2017, when these bonds had an unamortized

Dmitrij [34]

Answer:

Redemption of Old Bonds

4-30-17 Bonds Payable $311000 Dr

Loss on Bond Redemption $26550 Dr

Discount on Bonds Payable $11000 Cr

Cash $326550 Cr

Issuance of New Bonds

3-30-17 Cash $314110 Dr

Premium on Bonds Payable $3110 Cr

Bonds Payable $311000 Cr

Explanation:

Redemption of Bonds Payable

The maturity value for bonds payable is equal to the face value of these bonds. This means that the face value of old bonds was $311000.

The bonds were carrying a discount. Thus, the carrying value of bonds was

Carrying value = Face value - Discount

Carrying value = 311000 - 11000 = $300000

Bonds with a carrying value of $300000 were redeemed at 105% of the face value. The cash paid for redemption is,

Cash paid = 311000 * 105% = 326550

Thus, there was a loss on redemption of = 326550 - 300000 = $26550

Issuance of Bonds Payable

The bonds were issued at 101% of the face value which means they were issued at a premium.

The amount of premium on these bonds is,

Premium = Carrying value - Face value

Premium = 311000 * 101% - 311000

Premium = $3110

3 0

3 years ago

Wang Company accumulates the following adjustment data at December 31. For each item, indicate (1) the type of adjustment (prepa

IRISSAK [1]

Answer:

a. Services performed but unbilled totals $600.

Accrued revenue
Accounts receivable was understated before the adjustment

b. Store supplies of $160 are on hand. The supplies account shows a $1,900 balance.

Accrued expense
Supplies was overstated before the adjustment

c. Utility expenses of $275 are unpaid.

Accrued expense
Utilities expense was understated before the adjustment

d. Service performed of $490 collected in advance.

Unearned revenue
Revenue was overstated before the adjustment

e. Salaries of $620 are unpaid.

Accrued expense
Wages expense was understated before the adjustment

f. Prepaid insurance totaling $400 has expired.

Prepaid expense
Insurance expense was understated

4 0

2 years ago

When current output is greater than potential output, which of the given monetary policies is the Federal Reserve (the Fed) like

choli [55]

When the current output is more than the potential output the fed is likely to enact decreasing reserves to increase interest rates.

The reason why they would have to do this is based on the fact that when the actual output in the economy is more than the potential output, It means that there is an inflationary gap.

In order to close this gap, the fed would have to reduce the aggregate demand, thereby raising the rate of interest. This would in turn lead to the fall in consumption and fall in saving.

7 0

2 years ago

Epsilon Co. can produce a unit of product for the following costs:Direct material $7.70Direct labor 23.70Overhead 38.50Total cos

Lesechka [4]

Answer:

Make since the relevant cost to make it is $58.35

Explanation:

$\left[\begin{array}{cccc}&$produce&$buy&$Differential\\$Purchase&-&-62.35&-62.35\\$Manufacturing Cost&-58.35&-&58.35\\$Allocate Cost&-11.55&-11.55&-\\$Total Cost&-69.9&-73.9&-4\\\end{array}\right]$

The manufacturing cost will be:

direct material 7.70

direct labor 23.70

Overhead 38.5 x 70% = 26.95

Total manufacturing cost 58.35

Allocated cost 11.55

The purchase cost is higher than our manufacturing cost of 58.35

It is better to make the unit.

The purchase option generates a differential loss for $4

7 0

3 years ago