Answer:
Option b is correct
Net income = $370,000
Explanation:
Dividend paid to common stock holders = Dividend payout ratio× earnings available to common stockholder
Let the total earnings be "y"
120,000 =80%× y
y = 120,000/0.8
y= 250,000
Net income = Earnings payable to common stockholders + Preferred dividend
Net income = 250000 + 120,000 = $370,000
Net income = $370,000
Answer:
E.
Explanation:
Based on the information provided within the question it can be said that you will be purchasing janitorial services. This is because from the description of your job tasks, you handle purchases of services. That being said the only service available to choose from the answers provided are janitorial services. Therefore it is the only option that falls into your job responsibilities.
Answer:
The ending balance in the Work in Process Inventory account $72,500
Explanation:
Direct materials$ 81,500
Direct labor $191,900
Manufacturing overhead $300,000
Manufacturing overhead allocated to production $297,200
Cost of jobs completed and transferred $500,900
Ending Balance of Work in process = Beginning Balance of Work in process +Direct materials + Direct labor Manufacturing overhead -Cost of jobs completed and transferred
Ending Balance of Work in process = $0 + $81,500 + $191,900 + $300,000 - $500,900
Ending Balance of Work in process = $72,500
Answer:
Explanation:
Apr-30
Dr Felix Godwin, Capital 20,055
Dr Fees earned 381,030
Cr Wages expense 294,900
Cr Rent expense 70,800
Cr Supplies expense 26,540
Cr Miscellaneous expense 8,845
Apr-30
Dr Felix Godwin, Capital 38,000
Cr Felix Godwin, Drawing 38,000
Answer:
The formula is
Price of the bond = [ $25 x ( 1 - ( 1 + 2.35% )^-30 )/ 2.35% ] + [ $1,000 / ( 1 + 2.35% )^30 ]
Explanation:
To calculate the price of the bond, use the following formula
Price of the bond = [ Coupon payment x ( 1 - ( 1 + Semiannual market rate )^-numbers od periods )/ Semiannual market rate ] + [ Face value / ( 1 + Semiannual market rate )^numbers of periods ]
Where
Coupon payment = $1,000 x 5% x 6/12 = $25
Semiannual market rate = 4.7% x 6/12 = 2.35%
Numbers of periods = 15 years x 12/6 = 30
Face value = $1,000
Placing values in the formula
Price of the bond = [ $25 x ( 1 - ( 1 + 2.35% )^-30 )/ 2.35% ] + [ $1,000 / ( 1 + 2.35% )^30 ]
