Question 832 pts

Resorts Corp. common stock is selling for $36.75 a share and has a dividend yield of 2.3 percent. What is the dividend amount?

7nadin3 [17]

Answer:

Annual Dividend Amount is approximately $0.85

Explanation:

Dividend yield = Annual Dividend Amount / Current selling price

∴ Dividend yield * Current selling price = Annual Dividend Amount

Annual Dividend Amount = $36.75 * 2.3%

=$36.75 * 0.023

=$0.84525‬

Annual Dividend Amount = $0.85 (approximately)

8 0

3 years ago

Read 2 more answers

1 Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common sto

Sindrei [870]

Answer:

Part A:

August 1:

Cash $6,500

Photography equipment $$33,500

Madison Harris Capital $40,000

August 2:

Prepaid Insurance $2,100

Cash $2,100

August 5:

Office Supplies $880

Cash $880

August 20:

Cash $3,331

Photography fees earned $3,331

August 31:

Utilities expense $675

Cash $675

Total $46,986 $46,986

Part B:

Amount Debit($) Credit($)

Cash 6,176

Office Supplies 880

Prepaid Insurance 2,100

Photography Equipment 33,500

M.Harris Capital 40,000

Photography Fee earned 3,331

Utilities Expense 675

Total 43,331 43,331

Explanation:

Journal Entries:

It helps the company or firm to put all its transactions ion one sheet as debit and credit to keep track of its financial transactions. At the end total debit is equal to total credit.

Below are journal entries of above Transactions:

Amount Debit Credit

August 1:

Cash $6,500

Photography equipment $$33,500

Madison Harris Capital $40,000

August 2:

Prepaid Insurance $2,100

Cash $2,100

August 5:

Office Supplies $880

Cash $880

August 20:

Cash $3,331

Photography fees earned $3,331

August 31:

Utilities expense $675

Cash $675

Total $46,986 $46,986

Part B:

From Above Entries we can find the cash at the end:

Ending Cash=Total Debit Cash- Total Credit Cash

Ending Cash=(6,500+3,331)-(2,100+880+675)

Ending Cash=$6176

Preparing Trial Balance:

Amount Debit($) Credit($)

Cash 6,176

Office Supplies 880

Prepaid Insurance 2,100

Photography Equipment 33,500

M.Harris Capital 40,000

Photography Fee earned 3,331

Utilities Expense 675

Total 43,331 43,331

3 0

3 years ago

Which business is exempt from using the accrual basis for accounting? A clothing manufacturer that has average gross annual rece

AnnZ [28]

Answer:

A home improvement store that just began business last year and had $2.7 million in gross receipts.

Explanation:

The IRS allows only a limited number of businesses to use cash basis accounting and in order to do so, the business must be:

Partnership or C corporation with less than $5 million in total sales revenue per year
Sole proprietorship or S corporation with less than $1 million in total sales revenue
Cannot be a publicly traded corporation
Personal service businesses with more than 95% of revenue specifically related to services.
Family owned farms with total annual sales revenue less than $25 million.

3 0

3 years ago

Stephanie, Inc. sells its product for $40. The variable costs are $18 per unit. Fixed costs are $16,000. The company is consider

Yuliya22 [10]

Answer:

It will increase

Explanation:

Before the purchase of the automated machine, break even point is computed as follows:

Sale price: $40

Less variable cost: $18

Therefore, contribution per unit = $40 - $18 = $22.

With fixed cost at $16,000, breakeven point in units = $\frac{Fixed Cost}{Contribution}$

= 16,000/22

Break even cost = 727.27 units.

With the purchase of the automated machine, break even point is computed as follows:

Sale price: $40

Less variable cost: ($18 - $2) = $16

Therefore, contribution per unit = $40 - $16 = $24.

Fixed cost = $16,000 + $5,000 = $21,000.

Breakeven point in units = 21,000/24

Break even cost = 875 units.

Therefore, breakeven point will increase as a result of the purchase of the automated machine.

4 0

3 years ago

What is an example of monopsony?

zalisa [80]

One buyer, many sellers and no close substitutes
usually this won't have an exact example to match all the requirement
so, try get those small company as the example of your answer

8 0

3 years ago