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Zolol [24]
3 years ago
8

Clothing Emporium was organized on January 1, 2018. The firm was authorized to issue 100,000 shares of $5 par value common stock

. During 2018, Clothing Emporium had the following transactions relating to shareholders' equity: Issued 30,000 shares of common stock at $7 per share. Issued 20,000 additional shares of common stock at $8 per share. Issued 300 shares of preferred stock PV-5 at $15 per share Reported a net income of $100,000. Paid dividends of $50,000. Given the above answer the following questions
1. What is the total in the common stock account at 12/31/18
2. What is the ending balance in retained earnings at 12/31/18
3. What is additional paid in capital at 12/31/18
4. What is the total in the preferred stock account at 12/31/18
5. What is total stockholder's equity at 12/31/18?
Business
1 answer:
PolarNik [594]3 years ago
7 0

Answer and Explanation:

The computation is shown below:

1 Total in Common Stock account is

= 20000 shares × $ 7 par

= $140,000

2 Ending balance in retained Earnings is

= Net income - dividends

= $100,000 - $50,000

= $50,000

3 Additional Paid in Capitalis

= (20000 shares ×  $1) + (300 preferred shares × $10)

= $23,000

4 Total Preferred Stock account is

= 300 shares × $ 5

= $1,500

5 Total Stockholder's Equity is

= $140,000 + $50,000 + $23,000 + $1,500

= $214,500

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Use the compound interest formula to determine the accumulated balance after the stated period. ​$60006000 invested at an APR of
My name is Ann [436]

Answer:

The final value of the investment after 3 years is $7,146.10

Explanation:

Giving the following information:

Investment= $6,000

Interest rate= 6​% compounded annually

The number of years= 3 years.

To calculate the final value, we need to use the following formula:

FV= PV*(1+i)^n

FV= 6,000*(1.06^3)

FV= $7,146.10

The final value of the investment after 3 years is $7,146.10

3 0
3 years ago
A company's issued share capital throughout an accounting period consists of 500,000 common shares of 20 cent each and 100,000 p
ella [17]

Answer:

a. $0.30

Explanation:

Basic Earning Per Share (BEPS) = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stock.

Earnings Attributable to Holders of Common Stock calculation :

Net income after tax for the period                            $160,000

Less Preference Dividend                                           ($10,000)

Earnings Attributable to Holders of Common Stock $150,000

Weighted Average Number of Common Stock calculation :

Outstanding common shares                                      500,000

Therefore,

Basic Earning Per Share (BEPS) = $150,000 ÷ 500,000

                                                     = $0.30

7 0
3 years ago
The rule of 70 is a measure of how long it will take for prices to __________ at a given inflation rate.
swat32

Answer:

A. double

Explanation:

Rule 70 is used to calculate the numbers of years it takes for an investment  or variable to double in value given a certain growth rate. In this case, the variable is prices and the growth rate is  inflation  rate. It is calculated by dividing number 70 by inflation rate.

For example;

Assume inflation rate is 6%, the prices will double in ; 70/6 = 11.7 years

And if inflation is 2%, the prices will double in 70/2 = 35 years

8 0
3 years ago
In 1931, President Herbert Hoover was paid a salary of $75,000. Government statistics show a consumer price index of 15.2 for 19
uranmaximum [27]

Answer:

B) $1,132,895

Explanation:

If the CPI = 15.2 in 1931, and in 2012 it was = 229.6, then President Hoover was making a fortune = (229.6 / 15.2) x $75,000 = $1,132,895, and he was a terrible president, one of the worst ones in all history.

In 2012 when President Obama was in office, he made around $400,000 and he was a much better president.

6 0
3 years ago
Critically discuss if government interventions to alleviate poverty are sustainable over a long period of time
Nostrana [21]

I don’t believe that government interventions are sustainable over a long time.<span>
<span>Government interventions such as social welfares are in reality good policies to aid deprived people sustain themselves for a short period of time. Howeveri in order to entirely eradicate their poverty, they have to ultimately get a decent job to maintain their own living, otherwise, the Government just keep on spending and increases national debt over time.</span></span>

7 0
4 years ago
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