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koban [17]
3 years ago
11

Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $47,600

Costs 35,600 Taxable income $12,000 Taxes (25%) 3,000 Net income $9,000 Dividends $3,000 Addition to retained earnings 6,000 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. HEIR JORDAN CORPORATIONBalance SheetAssets Liabilities and Ownersâ EquityCurrent assets Current liabilitiesCash $2,050 Accounts payable $2,400 Accounts receivable 4,700 Notes payable 4,500 Inventory 6,400 Total $6,900 Total $13,150 Long-term debt $25,000 Ownersâ equity Fixed assets Common stock and paid-in surplus $15,000 Net plant and equipment $36,000 Retained earnings 2,250 Total $17,250 Total assets $49,150 Total liabilities and ownersâ equity $49,150 Prepare a pro forma balance sheet, assuming an increase in sales of 13%, no new external debt or equity financing, and a constant payout ratio. Assets Liabilities and Owner's Equity Cash Accounts Payable Accounts Recievable Notes Payable Inventory Total Total: Long-term Debt Owners Equity Fixed Assets Common stock and paid-in surplus Net Plants and Equipment Retained Earnings Total Total Assets Total Liabilities and Owners Equity Calculate the EFN.
Business
1 answer:
emmasim [6.3K]3 years ago
8 0

Answer:

i wil help u in a bit

Explanation:

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What effect would a government budget surplus have on the supply of and demand for loanable funds?
Fed [463]

Answer:

A po

Explanation:

no explanation..............

8 0
3 years ago
Consider a city of 200 people (100 rich and 100 poor) and two neighborhoods (100 people in each). Both groups generally prefer t
Mekhanik [1.2K]

Answer:

Explanation:

Step 1. Given information.

  • City of 200 people
  • 100 rich, 100 poor.

Step 2. Formulas needed to solve the exercise.

  • P(poor) = 0.9x^2
  • P(rich)= 35x-0.1x^2

Step 3. Calculation and step 4. Solution.

P(poor) = p (rich)

0.9x2 = 35x - 0.1x2

1x2 = 35x

x = 35

x is the percentage of rich above 50%, thus there are 35% rich people above 50%.

P (poor) = 1102.5

P (rich) = 1102.5

The equilibrium premium is $1,102.5

3 0
3 years ago
A7X Corp. just paid a dividend of $2.50 per share. The dividends are expected to grow at 17 percent for the next eight years and
babunello [35]

Answer:

Price of the stock today = $82.35

Explanation:

Note: See the attached file for the calculation of present values for year 1 to 8 dividends.

From the attached excel file, we have:

Previous year dividend in year 1 = Dividend just paid = $2.50

Total of dividends from year 1 to year 8 = $23.46345631521910

Year 8 dividend = 8.77863318950395

Therefore, we have:

Year 9 dividend = Year 8 dividend * (100% + Dividend growth rate in year 9) = 8.77863318950395 * (100% + 7%) = 9.39313751276923

Price at year 8 = Year 9 dividend / (Rate of return - Perpetual dividend growth rate) = 9.39313751276923 / (13% - 7%) = $156.552291879487

PV of price at year 8 = Price at year 8 / (100% + Required return)^Number of years = $156.552291879487 / (100% + 13%)^8 = $58.88868846568915

Price of the stock today = Total of dividends from year 1 to year 8 + PV of price at year 8 = $23.46345631521910 + $58.88868846568915 = $82.35

Download xlsx
5 0
3 years ago
Solve!!!!!!
Tamiku [17]

Answer:

Someone already gave the correct answer so look above me

7 0
2 years ago
Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $242.00. 15 Replenished the pe
kkurt [141]

Answer:

petty cash fund 242 debit

                cash             242 credit

--to establish a petty fund--

freigth-out                       53.40 debit

entertainment expense  15.00 debit

postage expense            12.70 debit

miscellaneous expense 112.50 debit

cash shortage loss            2.40 debit

             cash                                      196 credit

--to replenish the fund on August 15th--

petty cash fund 200 debit

                cash             200 credit

--to increase petty fund by 200 dollars--

freigth-out                        25.40 debit

entertainment expense  153.60 debit

postage expense            124.00 debit

cash shortage loss              1.00 debit

             cash                                      304 credit

--to replenish the fund on August 31th--

Explanation:

when replenish we don't use the petty fund account we adjust directly against cash leaveing the petty fund balance untouched. We only adjusted for increases or decreases in the total amount available at the petty cash fund.

3 0
3 years ago
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