Answer:
Cash increases by $500,000
Equipment decreases by $300,000
Profit increases by $200,000
Explanation:
Cash increases by $500,000 because the equipment was exchanged for cash.
The equipment (property,plant and equipment account) decreases by $300,000 because this particular equipment will be removed from PPE account.
Equity increases by $200,000 because there is a profit of $200,000 from the sale.
Answer:
C. June 15, 2020
Explanation:
Generally, soldiers are granted an automatic extension if they are deployed in a combat zone until the day that they return from there. But if the soldier returned before the tax year was over (in this case, March 31, 2019), he/she is required to file his/her taxes by June 15 of the next year. Other exceptions would include if the soldier had been injured and wasn't able to file taxes on time, the extension applies for the whole time he/she is hospitalized. .
Answer:
Option (d) 7 times
Explanation:
Data provided in the question:
Net income = $250,000
Dividends paid to common stockholders = $50,000
Common stock outstanding = 50,000
Selling price of the common stocks = $35
Now,
The price-earnings ratio is calculated as:
⇒ ( Stock price ) ÷ ( Earnings per share )
also,
Earnings per share = ( Net income ) ÷ ( common stock outstanding )
= $250,000 ÷ 50,000
= $5
or
Price-earnings ratio = $35 ÷ $5
or
Price-earnings ratio = 7 times
Option (d) 7 times
Answer:
(A) 9.6%
(B) 37,296,880
Explanation:
Current earnings for Bennington Enterprise is $34.03 million
The ROE is 12 percent
= 12/100
= 0.12
Retention ratio is 80 percent
= 80/100
= 0.8
(A) The firms earning growth rate can be calculated as follows
= 0.8× 0.12
= 0.096×100
= 9.6%
(B) Next year earnings can be calculated as follows
= 34,030,000 × (1+0.096)
= 34,030,000× 1.096
= 37,296,880