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kozerog [31]
3 years ago
9

During the year ended December 31, 2017, Gluco, Inc., split its stock on a 5-for-1 basis. In its annual report for 2016, the fir

m reported net income of $930,900 for 2016, with an average 254,100 shares of common stock outstanding for that year. There was no preferred stock.
Required:
a. What amount of net income for 2016 will be reported in Gluco's 2017 annual report?
Business
1 answer:
gizmo_the_mogwai [7]3 years ago
6 0

Answer:

$930,900

Explanation:

In the income statement, the total revenues and the total expenses are recorded.  

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.  

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A firm is evaluating a proposal which has an initial investment of $50,000 and has cash flows of $15,000 per year for five years
Harlamova29_29 [7]

Answer:

3 1/3 years

Explanation:

Payback period is the time required for the inflows from a project to be equal to the initial outflow for the project. It is a key consideration in capital budgeting. It is usually assumed that the outlay or initial outflow is made in year 0 and the first inflow comes in after a year.

Year       Cash outflow      Cash inflow           Balance

0                ($50,000)                   -                ($50,000)

1                         -                   $15,000           ($35,000)

2                        -                    $15,000          ($20,000)

3                        -                    $15,000           ($5,000)

4                      -                      $15,000           $10,000

5                       -                    $15,000            $25,000

Hence the payback period

= 3 years and 5000/15000 * 12 months

= 3 years 4 months

= 3 1/3 years

3 0
3 years ago
Revenue on account amounted to 54,000. Cash collections of accounts receivable amounted to $2,300. Expenses for theperiod were 5
Georgia [21]

Answer:

Option (D) is correct.

Explanation:

Given that,

Revenue on account = $54,000

Cash collections of accounts receivable = $2,300

Expenses for the period = $52,100

company paid dividends = $450

Net income for the period:

= Revenue on account - Expenses for the period

= $54,000 -  $52,100

= $1,900

Therefore, the net income for the period is $1,900.

8 0
3 years ago
The fundamentals of Project Management are considered universal across most businesses and professions.
Troyanec [42]

Answer:

A. True

Explanation:

Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.

The fundamentals of Project Management are considered universal across most businesses and professions.

The fundamentals of Project Management includes;

1. Project initiation

2. Project planning

3. Project execution

4. Monitoring and controlling of the project

5. Adapting and closure of project.

It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.

6 0
3 years ago
A clothing store sells T-shirts, t, for $8 a shirt and shorts, s, for $12 each. The
Crazy boy [7]

Answer:

B. 8t + 12s = 216; t = 3s

Explanation:

t-shirts = $8 each

shorts = $12 each

$216 total

t-shirts sold = 3 x shorts

7 0
3 years ago
Read 2 more answers
When an interest-bearing note is dishonored at maturity and ultimate collection is expected, the entry for the dishonoring, assu
tresset_1 [31]

Answer:

The correct answer is C. a credit to Notes Receivable and Interest Revenue.

Explanation:

When this registration is made, what occurs is to decrease the obligation they have with our organization, and an increase in income due to the recognition of the interests effectively recognized at the expiration of the obligation. Dishonoring the note means recognizing that we no longer have a callable value, and that the value receivable is extinguished as a result of the end of the agreed period of permanence.

8 0
4 years ago
Read 2 more answers
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