Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.
<h3>What is financial statement?</h3>
Financial statement help to summarize the financial position of a business and it as well help to show the day to day transaction of a company or day to day activities of a business at a particular period of time.
Financial statement of a company can be prepared more that once in a year and financial statement may tend to have fiscal year end that is other than last month of the year which is 31st December.
Therefore Financial statements can be prepared : b. may be prepared more than once a year; c. may have a fiscal year end other than December 31.
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The complete question is:
Financial statements ______. (Select all that apply.)
a. must have a calendar year end of December 31
b. may be prepared more than once a year
c. may have a fiscal year end other than December 31
d. are prepared just once a year
Answer:
profit sharing
Explanation:
profit-sharing plan can be regarded as retirement plan which is designed to let an employee to have a share in the profits of a firm. In this particular plan some percentage of the profit made by the company,firm can be received by the employee using the quarterly or annual earnings of the employee as the basis.
Answer: $4
Explanation:
The Bottle division is said to be able to meet all excess demand outside as well as that of the Cologne Division.
When this is the case in a company, individual divisions are allowed to transfer to each other at a rate equal to their Variable Costs. This is the general rule.
The Variable Costs for the containers is $4 so that is the transfer price as well.
Answer:
180 000 common stock shares outstanding
Explanation:
preference shares are not used in calculating earning per share. Earning per share is the part of the firm's profit that is attributed to common stock shares. It is an indicator of financial strength of a company. It also shows the intrinsic value of the company's shares. This can be used to determine if a share is overvalued or under valued in the equity market.
The company has 120, 000 common stock shares and issued additional 20,000 common stock shares totaling 180,000 common stock shares.
Answer:
The net present value of the machine is $5530
Explanation:
Data provided in the question:
Cost of the equipment = $84,000
Annual after-tax net income from the equipment after deducting depreciation = $3,000
Depreciation = $28,000
Useful life = 3 years
Required return on investment = 9% = 0.09
Now,
After-tax cash flow = After-tax net income + Depreciation
= $3,000 + $28,000
= $31,000
Therefore,
Net Present Value = Present value of cash flow - Investment
= ( $31,000 × PVIFA(11%, 3)
) - $84,000
= ( $31,000 × 2.5313 ) - $84,000
= $78470.3 - $84,000
= -$5529.7 ≈ - $5530
hence,
The net present value of the machine is $5530
