Answer:
$133,000
Explanation:
Computation to determine the amount of Seldin's cash payments for purchases of merchandise during the current year
First step is to calculate the Purchases during the year
Beginning ($51,000)
Cost of goods sold $130,000
Ending $55,000
Purchases during the year $134,000
Now let calculate the amount of Seldin's cash payments for purchases of merchandise
Beginning payable $32,000
Purchase during the year $134,000
Less Ending payable ($33,000)
Cash payments for purchases of merchandise $133,000
Therefore the amount of Seldin's cash payments for purchases of merchandise during the current year is $133,000
Answer:
Expense(s) category
Explanation:
Expenses such as entertainment and meals are meant to be included in the expense category of the financial statements even when these expenses are not deductible for tax purposes. This is beacuse the meals and entertainment are business expenses and as such should be included in the financial statements as every expense is important in proper income calculation.
Cheers.
Answer:
$0.54 per share
Explanation:
For computing the dividend per share, first we have to determine the dividend amount which is shown below:
For Preferred stock:
= Number of shares × par value per share × dividend rate
=5,000 shares × $50 × 6%
= $15,000
Out of $75,000, the $15,000 will be paid to preference stockholders and the remaining $60,000 will be paid to equity stockholders
Now the dividend per share for common stockholders would be
Dividend per share = (Total dividend) ÷ (number of shares)
= ($60,000) ÷ (110,000 shares)
= $0.54 per share
The number of shares is computed below:
= Total number of shares - treasury stock shares
= 120,000 shares - 10,000 shares
= 110,000 shares
<span>(600-500)/500 = 20%
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