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4 years ago

10

Rogers has a nail that is 12 centimeter long. He measured and records the length of the nail as 15 centimeters. What is the perc

ent error in Roger’s measurement

1 answer:

Oksana_A [137]4 years ago

8 0

Roger is wrong by 3cm, so
3/15 X 100 = 20% error.

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Epic Inc. has 10,600 shares of $2 par value common stock outstanding. Epic declares a 11% stock dividend on July 1 when the stoc

Sati [7]

Answer:

The Journal entries are as follows:

(1) On July 1,

Retained earnings A/c [1,166 × $14] Dr. $16,324

To common stock distributable [1,166 × $2] $2,332

To paid-in-capital in excess of par- common stock $13,992

(To record declaration of stock dividend)

(2) On July 20,

common stock distributable A/c Dr. $2,332

To common stock $2,332

(To record distribution of the stock dividend)

Workings:

Common stock outstanding = 10,600 shares

Stock dividend declared = 11%

No. of common stock declared as dividend = 10,600 × 11%

= 1,166 shares

3 0

3 years ago

On January 1, Brad Inc. sold $30,000 in products to a customer on account. Then on January 10, Brad collected the cash on that a

ozzi

Answer:

No net effect on the accounting equation.

Explanation:

Given that,

On January 1, Products sold to a customer on account = $30,000

On January 10, Cash collected from a customer = $30,000

Accounting equation is as follows:

Assets = Liabilities + Stockholder's equity

On January 10,

The cash of $30,000 is received from the customer which increases the assets by $30,000 and reduces the accounts receivable by $30,000 which is also a part of assets. Therefore, there is no change or impact on the accounting equation.

3 0

4 years ago

Westshore Diagnostics has 28,000 shares of common stock outstanding and the price is per share of $71 . The rate of return on th

babymother [125]

Answer :

Weighted average capital cost = 11.05%

Explanation :

As per the data given in the question,

(a) (b) (c = a × b)

Amount per share Bond price or share price Market value Weight (c/Total)

Debt $380,000 107% $406,600 13.45%

Preferred stock 6,900 $91 $627,900 20.77%

Common stock 28,000 $71 $1,988,000 65.77%

Total $3,022,500

Now the WACC is

Particulars Cost Weight Weighted cost

Debt 4.78% 13.45% 0.64%

Preferred stock 7.69% 20.77% 1.60%

Common stock 13.40% 65.77% 8.81%

WACC 11.05%

Working Notes:

Cost of debt = 7.84% × (1 - 39%)

= 4.78%

Cost of preferred stock = Dividend ÷ current price

=(7% × 100) ÷ 91

= 0.07692

= 7.69%

6 0

3 years ago

The following data has been provided for a company’s most recent year of operations: Return on investment 20% Average operating

Snowcat [4.5K]

Answer:

$5,000

Explanation:

The return on investment is 20%

= 20/100

=0.2

The average operating assets is $100,000

The minimum required rate of return is 15%

= 15/100

= 0.15

The first step is to calculate the net operating assets

= ROI× average operating assets

= 0.2×100,000

= $20,000

Therefore, the residual income can be calculated as follows

= Net operating income-(minimum required rate of return×average operating assets)

= $20,000-($100,000-0.15)

= $20,000-15,000

= $5,000

Hence the residual income for the year was closest to $5,000

3 0

3 years ago

he company rented an office for $ 3600 per month starting from January 1, 2018. On that day, ABC prepaid the rent through June

pickupchik [31]

Answer:

The balance in the Prepaid Rent account as of April 30, 2018 = $7,200

Explanation:

Monthly rent = $3,600

Rent paid on 1 January = $3,600 $\times$ 6 = $21,600

Out of which Prepaid Rent = $3,600 $\times$ 5 = $18,000

for 5 months

Prepaid rent account as on April 30 balance will be of rent for May and June,

That is $3,600 $\times$ 2 = $7,200

Only this amount will be outstanding in prepaid rent as for the month till April each month rent would have been adjusted from February to April.

Final Answer

The balance in the Prepaid Rent account as of April 30, 2018 = $7,200

8 0

3 years ago