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vekshin1
2 years ago
12

Culver Corporation was organized on January 1, 2022. It is authorized to issue 22,800 shares of 6%, $50 par value preferred stoc

k and 468,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.
Jan.10 Issued 74,000 shares of common stock for cash at $6 per share.
Mar.1 Issued 1,280 shares of preferred stock for cash at $54 per share.
May1 Issued 119,000 shares of common stock for cash at $5 per share.
Sept.1 Issued 5,800 shares of common stock for cash at $4 per share.
Nov.1 Issued 3,800 shares of preferred stock for cash at $60 per share.

Required:
Post to the stockholders' equity accounts.
Business
1 answer:
Rus_ich [418]2 years ago
8 0

Answer:

Date        Account title and explanation              Debit          Credit

Jan-10     Cash (74,000*$6)                                $444,000  

                     Common Stock (74,000*$3)                             $222,000

                     Paid in capital in excess of stated value          $222,000

Mar-01     Cash (1,280*$54)                                  $69,120  

                        Preferred Stock (1,280*$50)                           $64,000

                        Paid in capital in excess of par value             $5,120

May-01     Cash (119,000*$5)                                $595,000  

                         Common Stock (119,000*$3)                           $357,000

                         Paid in capital in excess of stated value        $238,000

Sep-01      Cash (5,800*$4)                                   $23,200

                           Common Stock (5,800*$3)                            $17,400

                           Paid in capital in excess of stated value       $5,800

Nov-01       Cash (3,800*$60)                                $228,000  

                            Preferred Stock (3800*$50)                         $190,000

                            Paid in capital in excess of par value           $38,000

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Answer:

Supply increases and price falls; Demand increases and price increases.

Explanation:

Other things remains the same,

If many Americans are selling their used cars, then this will lead to increase the supply of used cars in the market for used cars and shifts the supply curve rightwards. This shift in the supply curve will decrease the prices of used cars.

Now, Americans are buying new fuel-efficient hybrids which will increase the demand of hybrids in the market for hybrids and shifts the demand curve of hybrids rightwards. Therefore, this shift in the demand curve of hybrids will increase the prices of hybrids.

Note: Missing options are attached with the answer.

8 0
3 years ago
Hampton Corporation has a beta of 1.3 and a marginal tax rate of 34%. The expected return on the market is 11% and the risk-free
vekshin1

Answer: 13.1%

Explanation:

Using the Capital Asset Pricing Model, the expected return is;

Expected Return = Risk Free rate + beta(expected return - risk free rate)

= 4% + 1.3( 11% - 4%)

= 4% + 9.1%

Expected Return = 13.1%

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3 years ago
A lifeguard in Florida was fired for leaving his assigned zone because he opted to help a drowning man, even though his supervis
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Answer: <em>Post-conventional level of moral development</em>

Explanation:

Under this level an individuals sense of morality or moral sense is referred to as or defined in words of abstract values and principles. Individuals now tend to believe that few rule and laws are completely unjust and therefore should be eliminated or changed. This level is further marked by a thorough and growing realization i.e. an individuals is a separate entity from the society and thus that individual may tend to disobey the rules which might be inconsistent with his/her own principles.

5 0
3 years ago
Greengage, Inc., a successful nursery, is considering several expansion projects. All of the alternatives promise to produce an
Ilia_Sergeevich [38]

Answer:

A. Project A

B. Project A has lowest Standard Deviation

C. Project D

Explanation:

A.

The higher the range, the more risky the project is. Based on the table, project A has the smallest range, and therefore is the least risky based on range.

B.

The standard deviation is not scale-free, i.e. it is not adjusted for the level of returns. Hence, a project that has the same distribution of returns, but a higher average return, will have a higher standard deviation. But the project is not any more risky. Hence, the standard deviation might not be an appropriate measure of risk.

C.

The Coefficient of Variation (CV) is calculated as follows:

CV = Standard deviation / expected return

Applying this formula, the coefficient of variation for each project is:

Project A: 2.9% / 12.0% = 0.242

Project B: 3.2% / 12.5% = 0.256

Project C: 3.5% / 13.0% = 0.269

Project D: 3.0% / 12.8% = 0.23 4

Based on the coefficient of variation, project D has the lowest coefficient. It means that the project has the lowest risk per unit of return generated, and thus is the best project and should be chosen.

4 0
3 years ago
A company reports the amounts below in its financial statements. Net cash flow from operating activities $37,570 Total net cash
balandron [24]

Answer:

Ratio will be 0.92

So option (A) will be the correct option

Explanation:

We have given net cash flow from operating activities = $37570

So net operating cash flow = $37570

Current liabilities at the bugging of the year = $38400

Current liabilities at the end of the year = $43200

So average current liabilities =\frac{38400+43200}{2}=$40800

We have to find the ratio of operating cash flow to current liabilities

So ratio will be =\frac{37570}{40800}=0.92

So option (A) will be the correct option

3 0
3 years ago
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