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Marizza181 [45]
3 years ago
12

ABC Company had addition to retained earnings for the current fiscal year just ended of $395,000. The firm paid out $195,000 in

cash dividend, and it has ending total equity of $5.3 million. The company currently has 170,000 shares of common stock outstanding. Please answer the following questions: a. What are earnings per share (E/PS)
Business
1 answer:
densk [106]3 years ago
6 0

Answer:

$3.47

Explanation:

According to the problem, computation of the given data are as follows,

Retained earning = $395,000

Cash dividend = $195,000

Outstanding shares = 170,000

So, by using earning per share formula,

Earning per share = (Retained earning + Cash dividend) ÷ Outstanding shares

By putting the value in the formula, we get

Earning per share = ( $395,000 + $195,000) ÷ 170,000

= $590,000 ÷ 170,000

= $3.47

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A company that is unwilling to give up control of the business is in need of additional capital. Would issuing additional stock
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Issuing bonds will be the better option for this company. Mainly because they do not like to give up the control of the company or to change its equity structure.

When the bonds are issued, the company gets the money from the investors and has to pay an agreed amount of interest periodically until maturity of the bond, where the company will have to pay the face value of the bonds.

Explanation:

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2 years ago
When deleting a check all of the following is true except: Multiple Choice It is better to delete the check than void the check
schepotkina [342]

Answer: It is better to delete the check than void the check in order to erase all records of the transaction

Explanation:

When a check is deleted, it should be noted that such check is being removed entirely from the system and also the transaction of the check will no longer be visible anywhere in the system.

Voiding a check mean that the amount of the transaction on the check will be changed to zero but it should be ited that a record of such transaction will still be kept in QuickBooks but deleting it will help remove the transaction in QuickBooks.

When a check is voided, the check details like the check number, account, payee, memo and date will be unchanged, even though the amount will change to zero.

Therefore, the option that says that it is better to delete the check than void the check in order to erase all records of the transaction isn't true.

4 0
3 years ago
Valley spa purchased $7,800 in plumbing components from tubman co. valley spa signed a 60-day, 10% promissory note for $7,800. i
lapo4ka [179]

Answer:

The journal entry is given as follows;

Explanation:

Accounts Receivable-Valley Spa           Dr.$7,930

Interest Revenue         (7,800*10%*2/12) Cr.$130

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8 0
2 years ago
Tamarisk, Inc. had a beginning inventory on January 1 of 293 units of Product 4-18-15 at a cost of $21 per unit. During the year
Radda [10]

Answer:

Tamarisk, Inc.

                                          FIFO         LIFO        AVERAGE-COST

Ending inventory            $13,788      $10,857           $12,303

Cost of goods sold        $47,576    $50,507          $49,062

Explanation:

a) Data and Calculations:

Date            Transaction              Units      Unit Cost         Total

January 1    Beginning inventory  293          $21             $6,153

Mar. 15        Purchase                    780         $24             18,720

July 20       Purchase                     488         $25            12,200

Sept. 4       Purchase                     683         $27              18,441

Dec. 2        Purchase                     195         $30              5,850  

Total          Goods available       2,439                          $61,364

                 Units sold                  1,950

                 Ending inventory        489

FIFO:

Ending inventory

      = 195 at $30 = $5,850

        294 at $27 = $7,938

Total 489  =          $13,788

Cost of goods sold = Cost of goods available for sale minus Cost of ending inventory = $61,364 - $13,788 = $47,576

LIFO:

Ending inventory:

293 at $21 =    $6,153

196 at $24 =     4,704

Total 489 =   $10,857

Cost of goods sold = $61,364 - $10,857 = $50,507

Weighted-Average Cost:

Weighted-average cost = Cost of goods available for sale/Units available for sale

= $61,364/2,439 = $25.16

Ending inventory = $12,303 (489 * $25.16)

Cost of goods sold = $49,062 (1,950 * $25.16)

b) The distinguishing factor among these inventory valuation methods is the assumption basis for their computations.  FIFO assumes that goods that first come into store are the first to be sold or First-in, First-out.  LIFO assumes that goods that are last in the store are the first to be sold, expressed as Last-in, First-out.  Lastly, the weighted average method uses the weighted average costs of inventories purchased at different times and prices to compute the cost of each unit.

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3 years ago
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