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Shalnov [3]
3 years ago
8

You bought a share of 6.6 percent preferred stock for $97.68 last year. The market price for your stock is now $102.42. What is

your total return for last year? Assume a par value of $100
Business
1 answer:
Angelina_Jolie [31]3 years ago
6 0

Answer:

The aggregate return for the last year is 11.61%

Explanation:

The return on any asset is the increase in price, in addition to any dividends or the cash flows, which is divided by the initial price. Since, the preferred stock is assumed to have a $100 par value of, the dividend amounts to $6.60, therefore, the return for the year would be:

Return (R) = (Market Price - Stock Price + Dividend) / Stock Price

R = ($102.42 - $97.68 + $6.60) / $97.68

R = .1161, or 11.61%

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Metzler Communications designs and programs a website for a local business. Metzler charges $33,000 for the project, and the loc
Grace [21]

Answer and Explanation:

1. The Journal entry is shown below:-

Notes receivable Dr, $33,000

        To Sales revenue $33,000

(Being sales is recorded)

2. The computation of interest is shown below:-

Interest = $33,000 × 4% × 6 ÷ 12

= $660

3. The Journal entry is shown below:-

Cash Dr, $33,660

       To Interest income $660

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(Being collection of notes receivable is recorded)

3 0
3 years ago
Calculate the inventory-to-sale conversion period based on the following information: average inventories = $110,000; average re
Slav-nsk [51]

Answer:

232.08 days

Explanation:

<em>Inventory to sales conversion period is the average length of time it will take a business to sell its stock items and then replace them. It give s an indication of patronage from customers and the shorter the better.</em>

It is determined as follows:

Average inventory period

= (Average inventory/cost of goods sold) × 365 days

= (110,000/173,000) × 365 days

= 232.08 days

<em>It takes on the average 232.08 days to sell and replace stock</em>

4 0
3 years ago
Dana and Emile allocate​ 2/3 of their​ partnership's profits and losses to Dana and​ 1/3 to Emile. The net income of the firm is
Usimov [2.4K]

Answer:

Debit income summary $30,00

Explanation:

Closing entries are used to move balances from temporary accounts to permanent baccounts so that a business can recognise income or loss made during an accounting period.

2/3 profit and loss is for Dana, that is (2/3)* 30,000= $20,000

1/3 of profit is assigned to Emile that is (1/3)* 30,000= $10,000

So the close out entries will be

A debit to income summary of $30,000

A credit to Dana of $20,000

A credit to Emile of $10,000

6 0
3 years ago
If the price level rose from 131 to 157 but economic output remained the same, real gdp would:______
Arlecino [84]

If the price level rose from 131 to 157 but economic output remained the same, real GDP would increase.
The price level has increased and the output is constant then the nominal GDP would increase.

  • The term "Gross Domestic Product," or GDP, refers to the total monetary worth of all finished products and services produced (and marketed) inside a nation within a specific time period (typically 1 year). Purpose. GDP stands for "Gross Domestic Product" and reflects the total monetary worth of all finished products and services produced (and sold on the market) inside a nation during a specific period of time. GDP is the most often used indicator of economic activity (typically 1 year). Purpose. The most often used indicator of economic activity is the GDP.

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8 0
2 years ago
On June 1, 20X1, Conner Company, a new firm, paid $4,300 rent in advance for a five-month period. The $4,300 was debited to the
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Answer:

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1.       Rent expense ($4,300/5)               $860

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        (To record adjusted supplies)

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         [(44,160/8)/12]

                Accumulated depreciation                     $460

         (To record depreciation)

6 0
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