1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
NISA [10]
3 years ago
10

Coffey's Coffee Shop was organized on January 1, 2005 and was authorized to issue 200,000 shares of $2 par value common stock an

d 100,000 shares of $100, 6% cumulative preferred stock. The preferred stock is convertible to common at the rate of 1 preferred share to 4 shares of common. The conversion rate is restated for all stock dividends and splits. Coffee had the following stock transactions in 2005:
1/1/2005 - Sold 30,000 shares of common stock at $20 per share.
1/1/2005 - Sold 10,000 shares of preferred stock at $100 per share.
4/1/2005 - Issued at 50 percent stock dividend when the market price is $26 per share.
9/1/2005 - Purchased 4,000 treasury shares at $30 per share.
10/1/2005 - Sold 1,000 of the treasury shares at $32 per share.
11/1/2005 - Sold 2,000 of the treasury shares at $25 per share.
12/1/2005 - Issued a 2-1 for stock split.
12/20/2005 - Declared the required dividend to preferred stock holders and a $.25 per share dividend to common stockholders. Dividends are payable on 12/31/2005.
12/31/2005 - Paid dividends declared on 12/20/2005.

Prepare journal entries to record all of the above business events.
Business
1 answer:
bazaltina [42]3 years ago
6 0

Answer:

$100

Explanation:

You might be interested in
Nezzie invests in 300 shares of stock in the fund shown below. Name of Fund NAV Offer Price LKIT Mid-Cap $16. 58 $16. 99 Nezzie
LenKa [72]

The correct amount of net asset value is $33. 66. Net asset value is termed as the value of the asset after the evaluation of the company's profit and evaluating the paid-off debt of the firm.  

Computation of the total net value:

\begin{aligned}\text{The Total Net Value}&=(\text{ Number of shares} \times \text{Offer price}) + \text{profit}\\\text{The Total Net Value}&= 300 \:\rm shares \times \$16.99 + \$5000\\\text{The Total Net Value}&=\$10,097\end{aligned}

The computation of the net asset value is:

\begin{aligned} \text{The Net Asset Value}&=\dfrac{\text{ Total Net Value}}{\text{Total Outstanding Shares}}  \\\text{The Net Asset Value}&= \frac{\$10097}{300\:\rm shares} \\ \text{The Net Asset Value}&= \$33.66\end{aligned}

Therefore, the correct option is D.

To know more about the calculation of the net asset value, refer to the link below:

brainly.com/question/2718055

7 0
3 years ago
The dividend paid to a preferred stockholder is $3.50. The price of one preferred stock is $70. What is the cost of the preferre
Morgarella [4.7K]
The cost of one preferred stock is calculated by dividing the dividend by the price. In mathematical equation this is expressed as,

      C = (D / P) x 100%

where C is the cost, D is the dividend, and P is the price. Substituting the known values,

     C = (($3.5)/ ($70) x 100%

     C = 5%

The answer to this item is the first choice, 5%. 
4 0
3 years ago
Ben really enjoys outdoor activities. When he isn't working, he's biking, hiking, sailing, or training to run marathons. Which o
Amanda [17]

Answer:

a) high-paying

Explanation:

  • As ben is an outdoor person and likes to have most of the time sent out, has the hiking and sailing or training and running marathons he could be least be focused on the jobs that are high or good-paying.
  • As ben enjoys his life and lives for the moment and thus thinks of location, flexible work schedules and other benefits. But does not rely on the high paying careers.
4 0
3 years ago
Structural unemployment is sometimes said to result from a mismatch between the job skills that employers want and the job skill
Liono4ka [1.6K]

Answer:

False

Explanation:

Due to the fact that the same amount of training is needed in each of the industries, wages would be the same. If wages were higher in the air craft industry, their would be an excess supply of labour in the airline industry. This would pull the wages in the airline industry down until the same wages are earned in both industries

8 0
4 years ago
What is​ fraud? A. Fraud is untruthful financial reporting. B. Fraud is the misappropriation of assets. C. Fraud is the intentio
aniked [119]

Answer:

The correct answer is C. Fraud is the intentional misrepresentation of facts made for the purpose of persuading another individual to act in a way that causes injury or damage to that individual.

Explanation:

In the broadest sense, fraud can encompass any crime for profit that uses deception as its main modus operandi. More specifically, fraud is defined by the Black's Law Dictionary as:

 "A false statement knowing the truth or the concealment of a material fact for the Fraud Scheme to induce another to act at its expense."

Consequently, fraud includes any intentional or deliberate act of depriving another of property or money by cunning, deception, or other unfair acts.

Fraud can compromise a company, either internally by employees, managers, officers or owners of the company, or externally by customers, suppliers and other parties. Other ways to defraud people, rather than companies.

3 0
3 years ago
Other questions:
  • Kingston Development Corp. purchased a piece of property for $2.79 million. The firm paid a down payment of 15 percent in cash a
    7·1 answer
  • Why aren‘t magazine photos a good representation ofwhat a healthy person looks like?
    12·1 answer
  • Ebon opened up a small coffee shop which earned him $175,000 in total revenue the first year. To do this, Ebon had to quit his p
    14·1 answer
  • If you want to use Format Painter to apply formatting to many different selections, what can you do to make this happen more eff
    11·2 answers
  • business ethics chapter 7 one of the ways in which multinational corporations lower their expenses is by shipping work to countr
    6·1 answer
  • Suppose the marginal utility for the last pencil you buy is 36 and each costs $1, whereas the marginal utility of the last pad o
    15·1 answer
  • Chrysler has a bond outstanding with eight years remaining to maturity, a coupon rate of 5 percent, and semiannual payments. If
    7·1 answer
  • Historically, demand has averaged 1447 units per week with a standard deviation of 715. The company currently has 2855 units in
    10·1 answer
  • Which of these is an example of land capital?
    5·1 answer
  • Bp's expansion plans were reduced, and its ability to compete with other large multinational oil companies like____ became limit
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!