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neonofarm [45]
3 years ago
9

At December 31, 2017 Rice Company had 300,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative preferre

d stock outstanding. No dividends were declared on either the preferred or common stock in 2017 or 2018. On January 30, 2019, prior to the issuance of its financial statements for the year ended December 31, 2018, Rice declared a 100% stock dividend on its common stock. Net income for 2018 was $1,140,000. In its 2018 financial statements, Rice's 2018 earnings per common share should be
A. $1.80.
B. $1.89.
C. $3.60.
D. $3.80.
Business
1 answer:
Leviafan [203]3 years ago
8 0

Answer:

A. $1.80

Explanation:

Earnings per share = (Net Income - Preferred dividend) / Weighted average outstanding common shares

Earnings per share = (1140000 - 10000*100*6%) / (300000 + 300000)

Earnings per share = $1.80 per share

So, Rice's 2018 earnings per common share should be $1.80 per share

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20% down will be $50,000 so the balance will be $200,000 to take out a mortgage for. The higher the down payment the lower the mortgage required and lower payments would ensue also. Also, once one has a mortgage it ie wise to pay it by the week to reduce the interest. Over time this practice makes a difference.
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3 years ago
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"I’m not sure we should lay out $250,000 for that automated welding machine," said Jim Alder, president of the Superior Equipmen
NikAS [45]

Answer:

1.

The annual net cost savings promised by the automated welding machine

Annual Costs savings in replacing 6 welders $108,000

Reduced Material costs $6,500

Total annual Costs savings = $114,500

Note there is a $3,000 annual maintenance cost that will then be taken off this savings amount to make up the Annual Net cash inflow of $111,500

2

A. The Net Present value is $72,227. Kindly refer to the attached document for the clear presentation

B. The project should be accepted because it delivers a positive NPV. Meaning the net benefit outweighs the cost of owning the new Assets.

3.

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Annually this comes to $67,038.

The benefit the business gets in the switch to the automatic welders is approximately $67,038 annually.

7 0
3 years ago
The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the followi
Elanso [62]

Answer:

the Cash Received from Customers is $548,400

Explanation:

The computation of the cash amount received by the customers is as follows:

Cash Received from Customers is

= Sales + Decrease in Accounts Receivables

= $516,400 + $32,000

= $548,400

hence, the Cash Received from Customers is $548,400

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0
2 years ago
Sky Communications (SKY) usually sells a cell phone for $448 plus 12 months of cellular service for $672. SKY has a special, tim
jeka94

Explanation:

The Journal Entry from July 1 and July 31 is shown below:-

1. Cash Dr,                                             $560

            To Deferred revenue                                  $560

(Being cash is received)

2. Deferred revenue                             $336

            To Sales revenue                                         $336

(Being 12 months sales service is recorded)

3. Cost of goods sold                            $280

            To Inventory                                                 $280

(Being cost of goods sold is recorded)

4. Deferred revenue ($336 ÷ 12)            $28

            To Service revenue                                      $28

(Being Deferred service revenue is recorded)

Working Note:-

Cellular service revenue = offer price ÷ total cost of phone and service × cellular service

= (($560 ÷ ($448 + $672)) × $672

= $336

3 0
2 years ago
The Nobel Prize-winning economist Paul Samuelson argued that contrary to the standard interpretation, in certain circumstances t
Oxana [17]

Answer:

True

Explanation:

The theory by Paul Samuelson postulated that trade liberalisation makes a rich country worse off when trading with a poor country.

Paul Samuelson being the American that won the Nobel Peace Prize in Economics, was also called the Father of Modern Economics.

He authored the best-selling economics textbook: Economics: An Introductory Analysis, which is considered an authority in Keynesian Economics.

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