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NNADVOKAT [17]
3 years ago
11

equired information [The following information applies to the questions displayed below.] Three different companies each purchas

ed trucks on January 1, 2018, for $50,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles in 2018, 42,000 miles in 2019, 40,000 miles in 2020, and 60,000 miles in 2021. Each of the three companies earned $40,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes. Required Required a-1. Calculate the net income for 2018?
Business
1 answer:
Shkiper50 [21]3 years ago
6 0

Answer:

Check the explanation

Explanation:

the 2018 net income for company A, B and C

Company A:  

Depreciation expense  11250  =     (50000-5000)/4

Net income  28750  =   40000-11250

 

Company B:  

Depreciation expense  25000  =   50000*50%i.e 0.5

Net income  15000  = 40000-25000

 

Company C:  

Depreciation expense  14850 =(50000-5000)/200000*66000

Net income  25150 =40000-14850

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Art, Inc., has 5,000 shares of 4%, $100 par value, cumulative preferred stock and 20,000 shares of $1 par value common stock out
son4ous [18]

Answer:

Dividend paid to Common Stockholders  =  $25000

so correct option is a. $25,000

Explanation:

given data

shares outstanding = 5,000

Par value = $100

Dividend Rate = 4%

common stock outstanding = 20,000 shares

par value = $1

dividend = $45,000

to find out

What is the amount of dividends received by the common stockholders in 2018

solution

first we get here Value of Preferred Stock that is express as

Value of Preferred Stock = Number of shares outstanding  ×  Par value    ....................1

put here value we get

Value of Preferred Stock is = 5,000 × $100

Value of Preferred Stock is = $500,000

and

Annual Dividend will be here

Annual Dividend = Value of Preferred Stock × Dividend Rate      .........................2

put here value we get

Annual Dividend = $500,000 × 4%

Annual Dividend = $20,000

and

so as for 2017  Dividend paid is here as

Dividend paid to Preferred Stockholders = for 2016 + for 2017

Dividend paid to Preferred Stockholders = $20,000 + $20,000 = $40000

so Dividend paid to Common Stockholders = $45000- $40000 = $5000

and

for 2018 Dividend paid is here as

Dividend paid to Preferred Stockholders is  = $20,000 for the 2018

so

Dividend paid to Common Stockholders  will be = $45000 - $20000

Dividend paid to Common Stockholders  =  $25000

so correct option is a. $25,000

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3 years ago
During globalization 1.0 all important business functions were located in the home country, whereas during globalization 2.0 mul
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1 year ago
Heather is an HR specialist at McCoy Manufacturing, where she is responsible for making sure HR policies and transactions delive
il63 [147K]

Answer: An operational executor

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What is a standard is a
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The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organiza
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