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mestny [16]
3 years ago
10

On January 15, 2016, Bravo Company purchased $4,000 of construction supplies, on account, from the Zulu Company. Prepare Bravo C

ompany's general journal entry (without explanation). If no entry is required then write "No Entry Required."
Business
1 answer:
Bezzdna [24]3 years ago
5 0

Answer:

Construction Supplies (Dr.)  $4,000

Accounts Payable (Cr.)  $4,000

Explanation:

When The Bravo Company purchases construction supplies of $4,000 from The Zulu then Journal entry is required to record this transaction. The transaction will have Construction Supplies or Purchases account debited with $4000 whereas Accounts Payable is credited with $4000 because the supplies are purchased on account.

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A stock's dividend is expected to grow at a constant rate of 5% a year, which of the following statements is CORRECT? The stock
Llana [10]

Answer:

a. The stock's price one year from now is expected to be 5% above the current price.

Explanation:

Under gordon model:

\frac{divends}{return-growth} = Intrinsic \: Value

If we calculate the value of the stock for the year after that:

\frac{divends x (1 + growth)}{return-growth} = Intrinsic \: Value

to calculate the value of the increase we divide next year over current year.

\frac{divends(1+growth)}{return-growth} \div \frac{divends}{return-growth}\\\\\frac{divends(1+growth)}{return-growth} \times\frac{return-growth}{divends}\\\\\frac{divends(1+growth)}{divends}= 1+ growth

We have demostrate that next year stock should increase by 1 + growth so statement c is correct.

7 0
3 years ago
Sunbird Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Sunbird Theatre Inc. has declared the foll
bulgar [2K]

Answer:

See the explanation below.

Explanation:

1. Calculation of total dividend for six years (2011 to 2016)

Total dividend = 2011  dividend + 2012  dividend + 2013  dividend + 2014  dividend + 2015  dividend + 2016  dividend

Total dividend = $20,000 + $36,000 + $70,000 + $90,000 + $102,000  + $150,000  

Total dividend = $468,000  

2. Calculation of per-share dividends declared on each class of stock for each of the six years

Note that preferred stock holders are entitled to dividend first before the common stock holders. It is what remains after paying the preferred shareholders that the common shareholders get. Therefore, the calculation is done as follows:

2011:

Preferred dividend per share = Preferred dividend rate × Preferred stock price

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Actual dividend declared = $20,000

Preferred dividend declared per share = $20,000 ÷ 100,000 = $0.20

Preferred dividend arrears (Cumulative) = $30,000 - $20,000 = $10,000

Preferred dividend per share arrears (Cumulative)  = $10,000 ÷ 100,000 = $0.10

Since preferred stock holders are entitled to dividend first before the common stock holders and the dividend declared is lower than the dividend payable to the preferred shareholders, the common stockholders will receive zero dividend in 2011.

Also, since it is stated in the question that the preferred 1% stock is cumulative

2012:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Total dividend declared = $36,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

To pay preferred dividend in arrears = $36,000 - $30,000 = $6,000

Preferred dividend arrears per share paid = $6,000 ÷ 100,000 = $0.06

Balance of preferred dividend arrears = $10,000 - $6,000 = $4,000

Balance of preferred dividend per share arrears  = $4,000 ÷ 100,000 = $0.04.

Total preferred dividend paid in 2012 = $36,000

Preferred dividend per share paid in 2012 = $36,000 ÷ 100,000 = 0.36

Again for the same reason as stated above, the common stockholders will also receive zero dividend in 2012.

2013:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Expected total preferred dividend = $0.30 × 100,000 = $30,000

Total dividend declared = $70,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

To pay preferred dividend arrears = $4,000

Preferred dividend arrears per share paid = $4,000 ÷ 100,000 = $0.04

Common stock dividend = $70,000 - $34,000 = $36,000

Common stock dividend per share = $36,000 ÷ 400,000 = $0.09.

2014:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $90,000

Common stock dividend = $90,000 - $30,000 = $60,000

Common stock dividend per share = $60,000 ÷ 400,000 = $0.15.

2014:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $102,000

Common stock dividend = $102,000 - $30,000 = $72,000

Common stock dividend per share = $72,000 ÷ 400,000 = $0.18.

2015:

Expected preferred dividend per share = 1% × $30 = 0.30 per share

Expected total preferred dividend = Expected preferred dividend per share × Number proffered share

Actual total preferred dividend = $0.30 × 100,000 = $30,000

Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30

Total dividend declared = $150,000

Common stock dividend = $150,000 - $30,000 = $130,000

Common stock dividend per share = $130,000 ÷ 400,000 = $0.33.

5 0
3 years ago
Briefly describe a customer experience you have personally encountered where you were unsatisfactory when you purchased a good.
sattari [20]

Answer: Faulty Mother board ordered on AliExpress

Explanation:

A while back my Laptop developEd power issues wasn’t turning on, took it down to the technician who told me it had board issues as it wasn’t responsive. And the only solution was me getting a new mother board. Well i ended up ordering the board from Abroad on Aliexpress the board arrived damaged Was bent all efforts to get a refund or a replacement was proving difficult as the seller and AliExpress were hell bent on frustrating me. At the end was refunded but that was like over a month was one hell of an experience.

6 0
3 years ago
How many bones of human body
jeka94
There are 206 bones in the average adult human body

hope this helps
6 0
2 years ago
Erica and Brett decide to form their new motorcycle business as an LLC. Each will receive an equal profits (loss) interest by co
KATRIN_1 [288]

Answer:

$58,500

Explanation:

The outside basis is defined as the tax basis that a partner has on the partnership. To find it, the value of all the resources contributed by the partner is taken and the debt relief and any debt assigned is subtracted. To solve this exercise, we should follow these steps:

1. Determine the contributed capital.

According to the problem statement, Brett provided cash ($ 9,500) and a building (here the value of the adjusted base, $ 39,000, is taken). Therefore, the total contributions are $48,500.

2. Calculate capital increases.

The partnership obtained a loan for $59,000, which was shared equally among the partners. Therefore, Brett received 50%, that is, $29,500.

Now, we must add the contributed capital plus capital increases:

48,500+29,500=78,000

3. Calculate mortgage debt issues.

The nonresource mortgage is 44,000, a value that exceeds the basis of the contributed property. In that case, the surplus is taxed to the contributing partner. To determine it, simply subtract the nonresource mortgage less adjusted basis of the building:

44,000-39,000=5,000

On the other hand, the remaining mortgage on the building is calculated, by dividing the value of the adjusted base of the property, in this case, 39,000 by 2, which results in 19,500.

Therefore, mortgage debt issues are equivalent to:

5,000+19,500=24,500

We add the contributed capital plus capital increases plus mortgage debt issues:

78,000+24,500=102,500

4. Subtract debts.

The partnership assumes the nonrecourse mortgage (which is computed as a debt) for 44,000. Because this component is not covered entirely by Brett, then this amount must be deducted from his individual tax base.

Therefore:

102,500-44,000=58,500

58,500 is Brett´s outside tax basis in his LLC interest.

On a balance sheet, we can see it as follows:

Particulars                                Amount in $

Cash                                                9,500

+Adjusted basis of the                39,000

building

+50% profit sharing ratio            29,500

+Nonrecourse mortgage               5,000

less adjusted basis

+Remaining mortgage on            19,500

building

TOTAL                                             102,500

-Debt on building                          (44,000)

Outside tax basis                          58,500

7 0
3 years ago
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