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Taya2010 [7]
2 years ago
15

The following data is available for BOX Corporation at December 31, 2017: Common stock, par $10 (authorized 30,000 shares) $270,

000 Treasury stock (at cost $15 per share) $ 1,200 Based on the data, how many shares of common stock are outstanding?
Business
1 answer:
Snezhnost [94]2 years ago
5 0

Answer:

26,920

Explanation:

At $10 par value,

Number of authorized shares = 30,000 (given)

Number of issued shares = $270,000/$10 = 27,000 shares

Number of treasury shares = $1,200/$15 = 80 shares

Since Treasury shares do not form part of outstanding shares, they will be deducted from issued shares to obtain outstanding shares

Therefore, number of outstanding shares

= 27,000 - 80

= 26,920 shares

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Suppose that you buy a two-year 7.4% bond at its face value. a-1. What will be your total nominal return over the two years if i
Harman [31]

Answer: 15.35%

Explanation:

The total nominal return over the two years if inflation is 2.4% in the first year and 4.4% in the second year will be calculated thus:

= (1+Interest rate)² -1

= (1 + 7.4%) - 1

= (1 + 0.074)² - 1

= 1.074² - 1

= 1.153476 - 1

= 0.153476

= 15.35% over the two years

8 0
3 years ago
Cindy has been working for 8 years, and she’s built up a huge emergency fund -- $45,000, which would be 6 months of her salary.
baherus [9]

Answer with Explanation:

Following are some types of account investments that are better for emergency funds and the return on these investment varies depending upon the risk born by the investors:

  • Current Account Investments
  • Commodity Investments
  • Mutual Funds

If the inflation rate is below the return paid on the current account then it could be a better investment option as the money doesn't loose its value over time.

If the inflation rate is higher than the return paid on the current account then it is better to invest in commodities like gold, petroleum products, etc, that are often termed as speculative investments.

If the investor is risk seeking person, then it is better to invest in mutual funds as the return on such investments is higher because of the higher risk that the investor bears.

6 0
3 years ago
On May 7, Keenan Company purchased on account 620 units of raw materials at $21 per unit. During May, raw materials were requisi
a_sh-v [17]

Answer:

Dr Material Inventory $13,020

Cr               Trade Payables $13,020

Dr Work In Progress $9,742

Cr Material Inventory       $9,742

Explanation:

On 7th May the double entry would be to record the inventory purchases on credit which would increase the inventory by $13,020 (620*21) as under:

Dr Material Inventory $13,020

Cr               Trade Payables $13,020

The material sent to production or manufacturing team would be recorded as increase in the work in progress by the value of the material issued which is $9,742 (211*$19 + 273*$21).

Dr Work In Progress $9,742

Cr Material Inventory       $9,742

8 0
3 years ago
A company purchased a commercial dishwasher by paying cash of $5,000. The dishwasher's fair value on the date of the purchase wa
Fed [463]

Answer:

$5,700

Explanation:

Purchased of a commercial dishwasher + Incurred transportation costs+ Installation fees= Total recorded amounts

$5,000 + $400 + $300 = $5,700.

Therefore the amount that the company will record the dishwasher is $5,700 because the parking ticket should be expensed as incurred due to the fact that it is not a cost necessary to get the asset ready for use.

7 0
3 years ago
Primo Industries collected $105,000 from customers in 2019. Of the amount collected, $25,000 was for services performed in 2018.
bearhunter [10]

Answer:

a. $33,000.

b. $36,000.

Explanation:

Net income is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. It is also called net earnings.

Now, Cash accounting recognizes revenue and expenses only when money changes hands, but accrual accounting recognizes revenue when it's earned, and expenses when they're billed (but not paid).

a. 2014 Cash-basis net income:

Primo Industries collected $105,000 from customers in 2019

Primo Industries also paid $72,000 for expenses in 2019

=105,000-72,000

=$33,000

b. 2014 accrual-basis net income.

=(105,000-25000+40000)-(72000-30000+42000)

=120000-84000

=$36,000

5 0
3 years ago
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