Answer: Income statement $100,000
Balance sheet warranty liability $Nill
Explanation:
Since we are at the end of the period and all activities has been concluded with no expectation of claim of repairs. The firm will only record the cost incurred for current period on repairs which is $100,00 ( $100*1000) . The liability will be zero since the company has taken care of all repairs for the period.
The answer is spendthrift clause. It is a trust that is produced for the benefit of a person that gives an independent trustee full authority to make decisions as to how the trust funds may be spent for the benefit of the beneficiary. Creditors of the beneficiary usually cannot reach the money in the trust, and the funds are not actually under the control of the beneficiary. Also, it prevents the beneficiary's reckless spending of benefits.
Answer:
Rise, fall, or remain unchanged and equilibrium quantity of corn will increase.
Explanation:
In this case, the equilibrium price of corn might RISE, FALL, or NOT CHANGE while the equilibrium quantity of corn increases.
Answer:
A. $0.90
Explanation:
Earning per share = (Net Income - dividends on preferred stocks)/average outstanding common shares
Particulars Amount
Earning After Tax 128750
Taxes 15000
Earning before Tax & Interest Expense 143750
Interest Expense (20000)
Earning after Interest, but before Tax 123750
Taxes (15000)
Earning after Taxes 108750
Preferred Dividends (18750)
Earning available for common stock holders 90000
common stock outstanding 100000
Earning per share 0.9
Therefore, The outstanding Earnings per share on the common stock was $0.90
Answer:
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