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Oksana_A [137]
3 years ago
12

A company has the following liabilities at year end: Mortgage note payable; $16,000 due within 12 months $355,000 Short-term deb

t that the company is refinancing with long-term debt 175,000 Deferred tax liability arising from depreciation 25,000 What amount should the company include in the current liability section of the balance sheet?
Business
1 answer:
Grace [21]3 years ago
4 0

Answer:

The amount that the company should include in the current liability section of the balance sheet is $16,000

Explanation:

The short-term debt that the company is refinancing with long-term debt is non-current and  deferred tax liability arising from depreciation is also non-current and should be disclosed as such in the Balance sheet after the sub-heading long-term borrowings.

Therefore, The amount that the company should include in the current liability section of the balance sheet is $16,000

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On December 31, 2017, Ainsworth, Inc., had 720 million shares of common stock outstanding. Thirty one million shares of 7%, $100
Oksana_A [137]

Answer:

1)

Reported net loss                                                       $  (195)    

Add: Cumulative preference dividend (31*$100*7%)     $  (217)    

Total loss                                                                       $ (412)    

Calculation of weighted average number of shares

   

Common stock outstanding on 12/31/17 (720*105%)    756.00    

Treasury stock (-30*105%*8/12)                             (21.00)

 

Issuance (12*4/12)                                                    4.00  

 

Weighted average number of shares                      739.00

Numerator / Denominator    =      Net loss per share  

 $  (412)         /        739.00    =        $  (0.56)

2)

Calculation of Net Income

   

Reported net loss                                  $  (195)

   

Add : loss from discontinuing operation   $ 510

   

Income from continuing operation           $  315  

 

Cumulative preference dividend            $  (217)

   

Net Income                                             $  98  

Numerator / Denominator = Net loss per share  

$ 98                /       739.00 = $  0.13

3)

Comparative income statement   2018      2017

 

Earning(Loss) per common share:  

   

Income from                           $ 0.13    $0.71   ($540/(720*105%))

continuing operation                                           =   $ 0.71                                          

Loss from discontinued         $ (0.69)    

operation

Net Income (Loss)                   $ (0.56)      $ 0.71

4 0
3 years ago
  Early Head Start is an example of        A. private preschool.   B. biological effect.   C. a nurturing environment.   D. priv
mars1129 [50]
<span>Early Head Start is an example of
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3 years ago
Corporation includes $200,000 of $1 par common stock and $400,000 par of 6% cumulative preferred stock. The board of directors o
vlabodo [156]

Answer:

The amount of dividends paid to common stockholders in 2021 $18000.

Explanation:

The cumulative preferred stock is the stock that accumulates dividends when the dividends are partially or not paid at all in a certain year. The dividends must be paid in the future.

The common stock holders are paid after the preferred stockholders are paid.

The preferred stock dividend per year = 400000 * 0.06 = $24000 per year

As the cash dividends paid in 2019 and 2020 are $20000 each,

The dividend outstanding on preferred stocks for 2019 is = 24000 - 20000 = $4000

Similarly, the dividends outstanding on preferred stocks for 2020 is = 24000 - 20000 = $4000

The total dividends outstanding at start of 2021 = 4000 + 4000 = $8000

Preferred dividend for 2021 = 24000

Total dividend on preferred stock = 24000 + 8000 = $32000

The amount of dividends that common stock holders will receive in 2021 = 50000 - 32000 = $18000

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Long-term investments that cost the company $25 were sold during the year for $54 and land that cost $53 was sold for $28. In ad
adell [148]

Answer:

Explanation:

Long-term Investment cost = $25

Long-term Investment sales value = $54

Gain from Long-term Investment = $(54-25) = $29

Land cost = $53

Land sales value = $28

Loss from sale of Land = $(28-53) = -$25

Cash Dividend paid = $22

Total change in Assets = $(29-25) = $4

Total change in Equity = -$22

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The answer would be a
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