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Ulleksa [173]
2 years ago
8

holdup bank has an issue of prefered stock witha standard deviation of $7 that just sold for $87 per share. What is the banks co

st of prefered
Business
1 answer:
alisha [4.7K]2 years ago
6 0

Answer: 8.05%

Explanation:

From the question, we are informed that Holdup bank has an issue of prefered stock witha stated dividend of $7 that just sold for $87 per share.

The banks cost of prefered will be:

= Dividend / Stock value

= 7/87

= 0.0805

= 8.05%

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Calculating and using Dual Charging Rates
11Alexandr11 [23.1K]

Answer:

1. Calculate a variable rate for the Maintenance Department. Round your answer to the nearest cent. $ per maintenance hour Calculate the allocated fixed cost for each using department based on its budgeted peak month usage in maintenance hours.

variable rate = $1.30 per maintenance hour

Department                            Peak Number              Allocated  

                                               of hours                        Fixed cost  

Assembly                          (210/2,100) x $65,400          $6,540

Fabrication                     (1,050/2,100) x $65,400        $32,700

<u>Packaging                        (840/2,100) x $65,400         $26,160</u>

Total                                        2,100/2,100                   $65,400

2. Use the two rates to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year.

Department             Fixed costs         Variable cost                  Total              

Assembly                      $6,540     3,500 x $1.30 = $4,550      $11,090

Fabricating                  $32,700     7,000 x $1.30 = $9,100      $41,800

<u>Packaging                   $26,160    10,000 x $1.30 = $13,000    $39,160</u>

Total                           $65,400            $26,650                      $92,050

3. What if the Assembly Department used 3,550 maintenance hours in the year? How much would have been charged out to the three departments?

Department             Fixed costs         Variable cost                  Total              

Assembly                      $6,540     3,550 x $1.30 = $4,615        $11,155

Fabricating                  $32,700     7,000 x $1.30 = $9,100      $41,800

<u>Packaging                   $26,160    10,000 x $1.30 = $13,000    $39,160</u>

Total                           $65,400              $26,715                       $92,115

6 0
3 years ago
All of these are functions of money EXCEPT :________
tino4ka555 [31]

Answer:

c

Explanation:

it doesn't make sense to be a function of money

8 0
2 years ago
Suppose that the average wage earner saves 7% of her take-home pay and spends the other 93%. Also suppose that 93% of any amount
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You dad is gay and left you for the milk
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2 years ago
A senior center would like to add a new computer to their library so that members can check their email and read book reviews on
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The answer is: A laptop
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3 years ago
Read 2 more answers
Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common. As of January 1, 2021,
devlian [24]

Answer:

Common stock = $210,000

Preferred stock = $15,000

Additional paid in capital = $2,801,000

Treasury stock  =    $120,000

Retained earnings = $31,600

Explanation:

Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common.

As of January 1, 2021, the following accounts had the following balances: Common Stock $10,000, preferred stock $5,000, retained earnings was $9,600.

The following transactions affect stockholders' equity during 2021, its first year of operations: January 1-Dec. 31 Net Income $25,000

January 1 Issue 200,000 shares of common stock for $15 per share.

JOURNAL ENTRIES

Dr. Bank.......................3,000,000

Cr. Common stock.......................200,000

Cr. Additional Paid-in capital..2,800,000

February 6 Issue 1,000 shares of preferred stock for $11 per share.

JOURNAL ENTRIES

Dr. Bank.......................11,000

Cr. Preferred stock.......................10,000

Cr. Additional Paid-in capital.......1,000

October 10 Purchase 10,000 shares of its own common stock for $18 per share.

JOURNAL ENTRIES

Dr. Treasury Stock.......................180,000

Cr. Bank........................................................180,000

November 12 Resell 5,000 shares of treasury stock at $20 per share.

JOURNAL ENTRIES

Dr. Bank..............60,000

Cr. Treasury Stock.......................60,000

December 31 Paid dividends of $3,000

The closing balances can be computed as beginning balances + changes in the year = closing balances:

Common stock = 10,000 + 200,000 = $210,000

Preferred stock =  5,000 + 10,000 =    $15,000

Additional paid in capital = 2,800,000 + 1,000 = $2,801,000

Treasury stock  = 180,000 - 60,000 = $120,000

Retained earnings 9,600 + 25,000 - 3,000 = $31,600

8 0
2 years ago
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