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Nady [450]
3 years ago
14

On August 14, 2020, Washington declared a 2-for-1 stock split. At the time of declaration, shares were selling for $114/share. T

hrough the first two quarters of the fiscal year, Washington recorded a net loss of $6,500. How will Washington’s stockholders’ equity section change as a result of this information?
Business
1 answer:
faltersainse [42]3 years ago
6 0

Answer:

Follows are the description of the equity section change:

Explanation:

Washington announced a split stock of 2-for-1 on 14 August 2017, in which securities are exchanged for $114 per stock only at the time of announcement. It also reported a net loss of $6,500 in the first two quarters of its financial year. This amount of shares would rise to 30 000, as well as the par value would drop to 12,50 cents per month, and capital throughout the shareholders would fall to 528 500 dollars. As just a result of such knowledge, will the equity division of Washington transformation.

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The amount of goods or services that consumers are willing and able to buy is determined by
RoseWind [281]
The best answer is "C" or demand. Consumers will buy more or less depending on the demand. 

I hope this helps!
<em>~cupcake</em>
5 0
2 years ago
A company has the following unadjusted account balances at December 31, of the current year; Accounts Receivable of $185,700 and
stellarik [79]

Answer:

a. The amount of the Allowance for Doubtful Accounts that should appear on the December 31, Balance Sheet of the current year is:

= $8,965.

b. Adjusting Journal Entry:

Debit Bad Debts Expense $7,365

Credit Allowance for Doubtful Accounts $7,365

To record bad debts expense and bring the balance of the Allowance for Doubtful Accounts to a credit balance of $8,965.

Explanation:

a) Data and Calculations:

Accounts Receivable balance = $185,700

Allowance for Doubtful Accounts $1,600 (credit balance)

Aging Schedule:

Account Age                 Balance  Estimated Uncollectible   Amount

                                                                 Percentage

Current (not yet due) $96,000                  1.00%                    $960

1—30 days past due    64,000                  2.50%                    1,600

30—60 days past due  16,000                  11.00%                   1,760

61—90 days past due    6,500                  37.00%                 2,405

Over 90 days past due 3,200                  70.00%                 2,240

Total                         $185,700                                              $8,965

Bad Debts Expense:

Allowance for Uncollectible Accounts:

Beginning balance     ($1,600)

Ending balance           $8,965

Bad Debts expense = $7,365

5 0
2 years ago
Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system
xz_007 [3.2K]

Answer:

Phillips Corporation

a = 9,050 beginning balance Raw Materials

b = 36,660 beginning balance WIP

c = 15,650 direct materials

d = 6,825 Overhead applied

e = 13,500 Ending balance WIP

f = 5,500 beginning balance Finished Goods

g = 54,625 Completed jobs

h = 4,300 ending balance Finished Goods

i = 9,100 wages assigned

j = d

k = 3,125 indirect labor

l = 1,145 Underapplied overhead

m = 55,825 cost of goods sold

Explanation:

a) Data and Analysis:

1. Jobs in process:

Job No. 154 and Job No. 155

Combined direct materials costs    $9,950

Combined direct labor costs            15,200

Overhead applied (75%)                    11,400

Total work in process, beginning $36,550

2. Jobs started in December:

             Job Nos. 156,           157, and       158

Direct materials                                     $4,400

Direct labor                                             5,200

Overhead applied (75%)                        3,900

Total work in process                        $13,500

Beginning work in process = $36,550

Ending work in process = $13,500

Beginning Finished Goods Inventory: Job 153 $5,500

Ending Finished Goods Inventory: Job 157 $4,300

Raw Materials Inventory

Dec. 1 Beginning balance  9,050 (a)  

Dec. 31 Requisitions                      18,950

Dec. 31 Purchases           18,025

Dec. 31 Ending balance                  8,125

Total                                27,075  27,075

a = $9,050 (27,075 - $18,025)

Work in Process Inventory

Dec. 1 Beginning balance $36,550  b.

Dec. 31 Jobs completed               54,625 (g)

Dec. 31 Direct materials     15,650  c.

Dec. 31 Direct labor              9,100

Dec. 31 Overhead                6,825  d.

Dec. 31 Ending balance                13,500 e.

Finished Goods Inventory

Dec. 1 Beginning balance        5,500 f

Dec. 31 Cost of goods sold            55,825 (m)

Dec. 31 Completed jobs    54,625 g.

g. Dec. 31 Ending balance                  4,300 h

Factory Labor

Dec. 31 Factory wages         12,225

Dec. 31 Wages assigned                    9,100

Dec. 31 Overhead                               3,125

Manufacturing Overhead

Dec. 31 Indirect materials 3,300

Dec. 31 Overhead applied                 6,825  d.

Dec. 31 Indirect labor        3,125  k.

Dec. 31 Other overhead   1,545

Dec. 31 Underapplied overhead        1,145

7 0
2 years ago
Smathers Corp. stock has a beta of 1.23. The market risk premium is 7.00 percent and the risk-free rate is 2.86 percent annually
Schach [20]

Answer:

the company's cost of equity is 11.47 %.

Explanation:

The Company`s cost of equity is the return that is required by holders of Common Stocks.

The Cost can be determined using the <em>Capital Asset Pricing Model</em> (CAPM) as follows :

Cost of Equity = Return on Risk Free Rate + Beta × Return on Market Portfolio

                       = 2.86 % + 1.23 × 7.00 %

                       = 11.47 %.

6 0
3 years ago
Whitt's bbq has sales of $1,318,000, a profit margin of 7.4 percent, and a capital intensity ratio of .78. what is the total ass
tankabanditka [31]
Based on the given figures above, the  total asset turnover rate is 1.28. To get the <span>1.28, you need to use the below formula:

</span>

Total asset turnover= 1/ capital intensity ratio


The capital intensity ratio given is 0.78


Therefore you calculation should be:


Total asset turnover = 1 / .78


Total asset turnover = 1.28


3 0
3 years ago
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