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timama [110]
3 years ago
11

200 + 10x = 120 + 15x now solve the equation to find x, the number of hours that both companies will charge the same ammount

Mathematics
1 answer:
torisob [31]3 years ago
8 0

Answer:

16

Step-by-step explanation:

Given the equation, 200 + 10x = 120 + 15x, let's solve for x as follows,

Subtract 200 from both sides

200 + 10x - 200 = 120 + 15x - 200

10x = - 80 + 15x

Subtract 15x from both sides

10x - 15x = - 80 + 15x - 15x

-5x = - 80

Divide both sides by -5

\frac{-5x}{-5} = \frac{-80}{5}

x = 16

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Reinhardt Furniture Company has 40,000 shares of cumulative preferred 2% stock, $150 par and 100,000 shares of $5 par common sto
Ann [662]

Answer:

for year 1

common stock =  $1.75 per share

preferred stock  = Zero

for year 2

common stock =  $4.25 per share

preferred stock  = $0.3 per share

for year 3

common stock =   $3 per share

preferred stock  =  $2 per share

Step-by-step explanation:

step 1

preferred stock value =  (40000 shares * $150) = $6000000

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 step 2

For year 1:

Dividend on preferred stock;

\frac{6000000 * 2}{100} = $120000

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hence, dividend per share

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Dividend on common stock;

70,000 - 70,000 = Zero

as total dividend distributed in year 1 is insufficient for cumulative preferred stock therefore no dividend will be paid on common stock.

For year 2:

Dividend on cumulative preferred stock;

\frac{6000000 * 2}{100}= $120000

extra dividend of year 1 ($120000 - $70000) = $50000

Thus total dividend on cumulative preferred stock

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So dividend per share

\frac{170000}{40000\ shares}= $4.25 per share

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($200000 – $170000) = $30000

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\frac{30000}{100000\ shares} = $0.3 per share

For year 3:

Dividend on cumulative preferred stock;

\frac{6000000 * 2}{100} = $120000

total dividend on cumulative preferred stock $120000

dividend per share

\frac{120000}{40000 shares} = $3 per share

No dividend was extra in the year 2 therefore only available dividend of this year will be paid.

Dividend on common stock;

($320000 – $120000) = $200000

dividend per share

\frac{200000}{100000\ shares}= $2 per share

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