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3 years ago

Which of the following is true about investors who buy preferred stock?

2 answers:

7 0

I think the correct answer is A. Investors who buy preferred stock receive dividends after the common stock shareholders. Preferred stock is a stock type that gives right to the owner a fixed share of the company's profit or fixed dividend.

german3 years ago

3 0

The answer above is actually INCORRECT. The correct answer should be They are nonvoting owners of the company.

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Bank statements, credit statements, and records of cash expenses help you to estimate your ________.1.credit score2.emergency fu

prisoha [69]

Answer:

4. Available investments

Explanation:

To enable me estimate my available investments, I need my bank statements, credit statements and record of cash expenses

5 0

3 years ago

Read 2 more answers

The actual cash received from cash sales was $3,930 and the amount indicated by the cash register total was $3,880. the journal

Nuetrik [128]

The actual cash received from cash sales was $14,356 and the amount indicated by the cash register total was $14290

a.what is the amount deposited in the bank for the day's sales?

14,356
Because this is the amount which is actually received by sales

b.What is amount recorded for the day's sales?

14,290
Because this is the amount which has been recorded in the cash register.

c.How should the difference be recorded?

Dr Cash 14,356
Cr Over/Short 66
Cr Sales 14,290

d. If a cashier is consistently over or short what action should be taken?

First of all we need to find out that whether the cashier is genuinely making mistakes or there is a case of theft.There would be some close monitoring. If they are just mistakes, maybe some extra mentoring in cash handling would help.

E5-18

Part a and b are informational and thus we dont have to do anything with them.

Part c and d are reconciling terms.

Parts e and f needs entries to adjust the company's books. For e there needs to be a debit to cash for the incorrect amount and a credit for the correct amount. For f there needs to be a credit to cash.

E.
(Dr) Cash in bank $540
(Cr) Accounts payable $540
$710 - $170

F.
(Dr) Bank charges $50
(Cr) Cash in bank $50

Bank reconciliation:
Cash balance per book $24,010
Add: error $540
Less: Debit memo $50
Adjusted book balance $24,500

Cash balance per bank $22,750
Add: Deposits in transit $9,100
Less: Outstanding checks $7,350
Adjusted bank balance $24,500

Hope you get it.

Get back to me in case you have any doubts.
I would be happy to help.

5 0

3 years ago

A coal company invests $12 million in a mine estimated to have 20 million tons of coal and no salvage value. it is expected that

lilavasa [31]

2 percent is the depletion

5 0

3 years ago

A company has $91,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts.

lilavasa [31]

Answer:

$5,360

Explanation:

The adjusting entry is shown below:

Bad debt expense $5,360

To Allowance for doubtful debts $5,360

(Being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful accounts as it reduced the assets

The computation is shown below:

= $91,000 × 5% + $810

= $5,360

8 0

3 years ago

On December 31, 2020, the Bennett Company had 100,000 shares of common stock issued and outstanding. On July 1, 2021, the compan

matrenka [14]

Answer:

$5.31

Explanation:

Earnings per share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding

where,

Earnings Attributable to Holders of Common Stock is :

Net Income $650,000

Less Preference Stock dividend ($71,000)

Earnings Attributable to Holders of Common Stock $579,000

and

Weighted Average Number of Common Stocks Outstanding :

Common Stocks at Beginning outstanding 100,000

Stocks Sold at Weighted Average (18,000 / 2) 9,000

Weighted Average Number of Common Stocks Outstanding 109,000

therefore,

Earnings per share = $579,000 ÷ 109,000

= $5.31

The 2021 basic earnings per share is $5.31.

4 0

2 years ago