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krek1111 [17]
3 years ago
15

On January 1, Concord Corporation had 113000 shares of $10 par value common stock outstanding. On March 17 the company declared

a 5% stock dividend to stockholders of record on March 20. Market value of the stock was $15 on March 17. The entry to record the transaction of March 17 would include a
Business
1 answer:
Alik [6]3 years ago
6 0

Answer and Explanation:

The Journal entry is shown below:-

March 17

Stock Dividend Dr, $84,750 (113,000 × 5% × $15)

     To Common Stock Dividend Distributable $56,500 (113000 × 5% × $10)

     To Paid in capital in excess of Par - Common Stock $28,250

(Being stock dividend is recorded)

Here we debited the stock dividend and we credited the Common Stock Dividend Distributable and Paid in capital in excess of Par - Common Stock

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Determine the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventor
Svet_ta [14]

Answer:

37,000 units

Explanation:

The computation of the total equivalent units for direct material is shown below:

= Transferred to finished goods during the month of July + Ending work in process during the month of July - Inventory in process, July 1

= 37,500 units + 3,500 units - 4,000 units

= 41,000 units - 4,000 units

= 37,000 units

We simply applied the above formula so that the total equivalent units for direct materials could come

7 0
3 years ago
A company purchases 12,000 pounds of materials. The materials price variance is $6,000 favorable. What is the difference between
Sonbull [250]

Answer:

The difference between the standard and actual price paid for the materials is $0.5.

Explanation:

Given Data:

Actual Quantity = 12,000 Pounds

Material Price Variance = $6,000

We know the formula for Material Price Variance is:

Materials Price Variance = <em>(Actual quantity × Actual price)</em> – <em>(Actual quantity × Standard price) ----- (1)</em>

For convenience, suppose:

Actual  Price = AP    &  Standard Price = SP

Rearranging the equation (1) and substituting the Actual and standard price with AP and SP we get,

Material Price Variance = (Actual Quantity x AP) – (Actual Quantity x SP)

Taking Actual Quantity as common on the left hand side of equation we get:

Material Price Variance= Actual Quantity (AP – SP) ---- (2)

Putting the values of Material Variance and Actual Quantity in equation (2), we get:

$6000=12,000 (AP – SP)

Rearranging the equation we get,

AP – SP = $6000/12,000

Finally, AP – SP = $0.5

Conclusion:

The difference between the standard and actual price paid for the materials is $0.5.

7 0
3 years ago
2 Jodi owns 112 shares of stock selling for $16.20. How many more shares can she purchase after receiving a dividend of $0.80 po
marusya05 [52]

Answer:

The number of new shares = 6

Explanation:

Dividend is the proportion of profit paid by a company to its shareholder as a form of return on their investment. Another form of return on share investment is the capital gain; which is the difference between the selling price of a share now and its cost when it was purchased.

<em>For Jodi, we need to first calculate the amount of dividends earned on the total shares she owns. And then divide the result by the current purchase price of a share to arrive at the number of shares she can buy more.</em> This is done as follows:

Total dividends =  112× 0.80 = $89.6

Current price of a share = $16.20

THe number of shares that can be purchased= 89.6/16.20=5.5

The number of new shares = 6

6 0
3 years ago
National Home Rentals has a beta of 1.06, a stock price of $17, and recently paid an annual dividend of $.92 a share. The divide
ANEK [815]

Answer:

9.6845%

Explanation:

Market risk premium = Market return - Risk free rate

                             7.3 = 11.2 - Risk free rate

Risk free rate = 3.9%

(1) Use CAPM:

Cost of equity = Risk free rate + Beta × Market risk premium

                        = 3.9% + 1.06(7.3)

                        = 11.638%

(2) Use DDM :

Stock price = [Latest dividend × (1 + dividend growth rate)] ÷ (Cost of equity-dividend growth rate)

$17 = [0.92 (1 + 0.022)] ÷ (Cost of equity - 0.022)

Cost of equity = 7.731%

Cost of equity = average value from using DDM and CAPM

Cost of equity = 0.5 (7.731 + 11.638)

                        = 9.6845%

4 0
3 years ago
Which of the following would be considered a subtopic for a mind map?
snow_lady [41]

Answer:

Free youngboy

Explanation:

and blogging would be considrerd the sub

3 0
3 years ago
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