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horsena [70]
3 years ago
10

​Electric, Inc. was incorporated on January​ 1, 2016. Electric issued​ 4,000 shares of common stock and​ 1,200 shares of preferr

ed stock on that date. The preferred stock is​ cumulative, $100​ par, with an​ 12% dividend rate. Electric has not paid any dividends yet. In​ 2019, Electric had its first profitable​ year, and on November​ 1, 2019, Electric declared a total dividend of​ $63,000. What is the total amount that will be paid to preferred​ shareholders?
Business
1 answer:
S_A_V [24]3 years ago
8 0

Answer:

$57,600

Explanation:

The computation of the total amount paid to preferred shareholders are shown below:

= Number of shares for preferred stock × par value × dividend rate × number of years

= 1,200 shares × $100 × 12% × 4 years

= $57,600

In case of cumulative, the number of years would be four years for dividend paid

All other information which is given is not relevant. Hence, ignored it

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6 0
2 years ago
Trail Running Company has started to produce running apparel in addition to the trail running shoes that they have manufactured
Tamiku [17]

Answer:

Explanation:

Machining Department Finishing Department Estimated Manufacturing Overhead by Department ​$800,000​ $200,000

Trail Running Shoes ​360,000 machine hours​ 6,000 direct labor hours Running Apparel ​40,000 machine hours​ 34,000 direct labor hours

Manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department.

At the end of the​ year, the following information was gathered related to the production of the trail running shoes and running​ apparel:

Machining Department Finishing Department Trail Running Shoes ​362,000 hours ​5,500 hours

Running Apparel​ 37,000 hours​ 35,000 hours

How much manufacturing overhead will be allocated to running​ apparel?

<em><u>For The Overhead Absorption Rate for Machining Department</u></em>

<em>Trail Running Shoes = (360,000/360,000+40,000)* $800,000 = $720,000</em>

<em>Running Apparel = (40,000/360,000+40,000)* $800,000 = $80,000</em>

<em><u>For The Overhead Absorption Rate for Finishing Department</u></em>

<em>Trail Running Shoes = (6,000/6,000+34,000)* $200,000 = $30,000</em>

<em>Running Apparel = (34,000/6,000+34,000)* $200,000 = $170,000</em>

<em><u>Therefore the running department would have been allocated ($80,000+$170,000) which is $250,000 during the period.</u></em>

8 0
3 years ago
Michael had a severe hearing impairment and worked as the supervisor of a fast food restaurant. Michael’s manager and the human
KiRa [710]

Answer: The correct answer is "C) giving up rather than standing up to the boss as required by law.".

Explanation: This is a situation of: <u>giving up rather than standing up to the boss as required by law.</u>

Michael should have sued his boss before the law so that he could instead be compensated for the bad treatment and discrimination and also collect unemployment compensation in the event that the employment relationship is terminated.

6 0
3 years ago
Juniper Enterprises sells handmade clocks. Its variable cost per clock is $16.80, and each clock sells for $28. Calculate Junipe
Soloha48 [4]

Answer:

For Juniper Enterprises to breakeven it must sell 607 units

Explanation:

To break-even means making sales where the proceeds from sales transactions equal the amount of total costs incurred,hence no gain no loss situation.

Break-even point in units=fixed cost/contribution per unit

fixed costs incurred is $8,400

contribution per unit=selling price per unit -variable cost per unit

selling price is $28

variable cost is $16.80

contribution per unit=$28-$16.80=$11.2 0

break-even in units =$6,800/$11.2 0=607 units

8 0
3 years ago
"A user complains that his computer is taking a long time to boot. During the boot process, you observe that the hard drive acti
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Answer:

You should add an identical hard drive, and configure a RAID-0 volume.

Explanation:

7 0
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