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hammer [34]
3 years ago
12

Godfrey Corporation holds, as a long-term investment available-for-sale securities costing $69,000. At December 31, 2017, the fa

ir value of the securities is $64,100. Show the financial statement presentation of the available-for-sale securities and related accounts. Assume the available-for-sale securities are noncurrent.
GOLDFREY CORPORATION
Balance Sheet Entry field with correct answer
December 31, 2017
Entry field with correct answer Investments
Entry field with correct answer Investment In Stock, at fair value
Entry field with correct answer 64100
Entry field with correct answer Stockholders' Equity
Entry field with correct answer Less :
Entry field with incorrect answer now contains modified data
Entry field with correct answer 4900
Business
1 answer:
kodGreya [7K]3 years ago
5 0

Answer:

Godfrey Corporation

GOLDFREY CORPORATION

Balance Sheet (Partial)

December 31, 2017

Noncurrent assets:

Investments:

Investment In Stock, at fair value  $64,100

Stockholders' Equity:

Common stock

Retained earnings

Less :

Unrealized loss  $4,900

Explanation:

a) Data and Calculations:

Long-term investment available for sale:

Cost =               $69,000

Fair value             64,100

Unrealized loss  $4,900

b) The correct entry would have been to reduce the net income by the unrealized loss.  However, for simplicity, this is showed as a reduction of the Retained Earnings in the balance sheet.

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Wax music expects sales of $437,500 next year. the profit margin is 4.8 percent, and the firm has a 30 percent dividend payout r
zimovet [89]

$16,231 is the Projected Increase in Retained Earnings.

<h3>Explanation</h3>

get here first Expected Profit that is express as

expected Profit = Sales × Profit Margin   .......................1

expected Profit = 437500 × 5.3%

expected Profit = $23187.50

and Dividends is here as

Dividends = Expected Profit × Dividend Payout Ratio   .................2

Dividends = 23187.50  × 30%

Dividends = $6956.25

Projected Increase in Retained Earnings will be

Projected Increase in Retained Earnings = expected Profit - Dividends   ........3

Projected Increase in Retained Earnings  = $23187.50 - $6956.25

Projected Increase in Retained Earnings = $16231.25

There are options missing in the question which is given below-

a. $16,231

b. $17,500

c. $18,300

d. $20,600

e. $21,000

Thus, the correct option is a. $16231

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3 0
1 year ago
Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund inv
Ghella [55]

Answer:

Missing word <em>"What is the Rate of return"</em>

a. Asset at the end of the year = (Asset at the start of the year + Increase in value) * 12b-1 charges

Asset at the end of the year = ($219 million+ ($219 million * 7%)) * (1-0.50%)

Asset at the end of the year = ($219 million + $15.33 million) * 0.9950

Asset at the end of the year = $234.33 million * 0.9950

Asset at the end of the year = $233.16 million

Net asset value at the end of the year = Asset at the end of the year / Number of shares

Net asset value at the end of the year = $233.15835 million / 12 million

Net asset value at the end of the year = $19.430

b. Rate of return = (Net asset value at the end of the year + dividend per share - Net asset value at the start of the year) / Net asset value at the start of the year

Rate of return = ($19.430 + ($6 / 12) - $18.250) / $18.250

Rate of return = ($19.430 + $0.50 - $18.250) / $18.250

Rate of return = $1.68 / $18.250

Rate of return = 9.20%

5 0
3 years ago
Outdoor luggage inc. makes high-end hard-sided luggage for sports equipment. data concerning three of the company's most popular
Elden [556K]

1-a. The total time available on the plastic injection molding machine is the constraint in the production process. What is the contribution margin per unit of the constrained resources for Ski Guard, Golf Guard and Fishing Guard?

Answer:

We need to need to find the contribution margin for each product.

Contribution Margin per unit = Selling Price per unit - Variable cost per unit

Then we need to find contribution margin per unit of constrained resources with the following formula:

Contribution Margin per unit of constrained resource = \frac{Contribution margin per unit}{Resource needed per unit of product}

Constraint: Time available on plastic injection moulding machine

Ski Guard Golf guard Fishing guard

Selling Price per unit 200 300 255

Less: Variable Cost 60 140 55

Contribution Margin 140 160 200

Processing time per unit (minutes) 2 5 4

Contribution Margin unit of constraint 70 (140/2) 32 (160/5) 50

1-b. Which product would be the most profitable use of this constraint?

Manufacturing the <u>Ski Guard</u> would be the <u>most profitable use</u> of this constraint since it has <u>the maximum contribution margin per unit of constraint, ($70 per unit).</u>

1-c. Which product would be the least profitable use of this constraint?

The <u>Golf Guard</u> would be the least profitable use of this constraint since it has the <u>least contribution margin per unit of constraint, at $32 per unit</u>.

2a. A severe shortage of plastic pellets has required the company to cut back its production so much that the plastic injection molding machine is no longer the bottleneck. Instead, the constraint is the total available pounds of plastic pellets. What is contribution margin per unit of the constrained resources for Ski Guard, Golf Guard and Fishing Guard?

We need to need to find the contribution margin for each product.

Contribution Margin per unit = Selling Price per unit - Variable cost per unit

Then we need to find contribution margin per unit of constrained resources with the following formula:

Contribution Margin per unit of constrained resource = \frac{Contribution margin per unit}{Resource needed per unit of product}

Constraint: Pounds of plastic pellets

Ski Guard Golf guard Fishing guard

Selling Price per unit 200 300 255

Less: Variable Cost 60 140 55

Contribution Margin 140 160 200

Plastic pellets per unit (pounds) 7 4 8

Contribution Margin per pound 20 (140/7) 40 (160/4) 25 (200/8)

2-b. Which product would be the most profitable use of this constraint?

The <u>Golf Guard</u> would be the <u>most profitable use</u> of this constraint since it has <u>the maximum contribution margin per unit of constraint, ($40 per unit).</u>

2-c. Which product would be the least profitable use of this constraint?

The <u>SkiGuard</u>, with a contribution margin of <u>$20 per pound</u> of plastic would be the <u>least profitable</u> use of this constraint.

3. Which product has the largest unit contribution margin?

Answer : The <u>fishing guard</u> has the <u>largest per unit contribution margin </u>at <u>$200.</u>

6 0
3 years ago
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