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Georgia [21]
3 years ago
7

Marigold Corp. had 302000 shares of common stock issued and outstanding at December 31, 2017. No common stock was issued during

2018. On January 1, 2018, Marigold issued 202000 shares of nonconvertible preferred stock. During 2018, Marigold declared and paid $105000 cash dividends on the common stock and $83000 on the preferred stock. Net income for the year ended December 31, 2018 was $626000. What should be Marigold's 2018 earnings per common share? (rounded to the nearest penny)
Business
1 answer:
Paul [167]3 years ago
4 0

Answer:

EPS = 1.077

Explanation:

302,000 shares at december 31th, 2017

202,000 issued

504,000 total

(net income - preferred stock dividends) / common stock

(626,000-83,000 ) /  504,000 = EPS = 1.077380952 = 1.077

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Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and
Tamiku [17]

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

3 0
3 years ago
Lack hshshahababahjjss<br>​
Illusion [34]

Answer:

wjwksjsbdjdhdhsjdns

Explanation:

Human resources development is important because it is an investment in one's employees that will ultimately result in a stronger and more effectiv

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amksusshhvsu

5 0
2 years ago
Read 2 more answers
Why is it important to understand money behavior is 80% and you have with your money and 20% is knowledge
musickatia [10]

Answer:

because it is always good to have money and understand and then save it and spend it wisely

Explanation:

7 0
3 years ago
Oriole Company was formed on December 1, 2019. The following information is available from Oriole's inventory record for Product
Leokris [45]

Answer:

FIFO Ending Inventory $ 64900

Explanation:

Oriole Company

Date                         Particulars        Units       Unit Cost       Total Cost

January 1, (beginning inventory)    2,000              $15         30,000

January 5,            Purchases:         2,500              $17          42500

January 25,          Purchases:         2,200               $18         39600

February 16,        Purchases:           1,100                 $19        20900

<u>March 15,               Purchases:         2,200              $20        44000</u>

<u>Total                                                10,000                            $ 177000  </u>

A physical inventory on March 31, 2020, shows 3,300 units on hand.

FIFO means first in first out. It is a method of calculating inventory items. In it the first items purchased are sold out first. Following this rulethe ending inventory FIFO can be calculated by moving backwards from March 15 purchases as follows.

FIFO Ending Inventory $ 64900

March 15 Purchases  2,200 units at $20=$ 44000

February 16,Purchases units 1,100 at $19 =$20900

6 0
3 years ago
Jupiter Explorers has $5,600 in sales. The profit margin is 3 percent. There are 4,000 shares of stock outstanding, with a price
Irina18 [472]

Answer:

Price-earning ratio is 28.57 .

Explanation:

Price earning is a ratio widely used by common stock holder in stock market. The ratio is used to measures share price in relation to earning per share. The ratio tells us years require to recover amount spend on acquisition of share.

Detail calculation is given below.

Sales                      $ 5,600  -A

Net profit               $    168   -B

EPS                         $ 0.042 -B/4000

Price-earning ratio = 1.2/EPS  = 28.57  

6 0
3 years ago
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