Answer:
Cumulative Preferred Stock Dividend = $21,000
Non-Cumulative Preferred Stock Dividend = $10,500
Explanation:
Cumulative Preferred Stock:
In cumulative, the dividends accumulate for the past year if they are not paid and will be paid in future. Therefore, in Year 2, the company will pay dividend to cumulative preferred stock holder for both the years:
Dividend = (1500 * 7% * 100) * 2
Dividend = 10,500 * 2
Dividend = $21,000
Non-Cumulative Preferred Stock:
In non-cumulative, the dividends are paid for the current year only and the dividend for past if they are not paid does not consider in dividend payments. The calculation will be:
Dividend = 1500 * 7% * 100
Dividend = $10,500
Answer:
1. True
2. True
3. True
Explanation:
1. Economic profit is the explicit and implicit costs are subtracted from total revenues. After deducting all the costs from revenue, if we get the zero economic profit, the producers do not get enough chance to have much incentive from the current line of production, or they cannot deviate it from the production level. That is why it is the correct answer.
2. It is true statement. An example can easily show why the statement is true.
Quantity Per unit revenue Total revenue Marginal Revenue 
0 0 0 -
1 4 4 (4 - 0) = 4
2 4 8 (8 - 4) = 4
3 4 12 (12 - 8) = 4
4 4 16 (16 - 12) = 4
So, the statement under perfect competition is true.
3. The statement is true. The shutdown price in the short-run is that the average variable cost is higher than the price per unit. When the average variable cost is higher than the price per unit, it is a competitive firm's minimum supply price in the short-run. It can happen due to the entrance of the new competitors in the entire market.
Answer:
Activities General Ledger accounts
Allocate indirect labor <em>Credit Factory wages payable</em>
Pay factory property tax <em>Debit Factory Overheads</em>
Purchase materials <em>Debit Raw material inventory</em>
Use direct materials <em>Credit Raw material inventory</em>
Complete job <em>Debit Raw material inventory</em>
Deliver job <em>Credit Raw material inventory</em>
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The question is: Which scale rating describes the greatest number of student and how many student responded with this rating.
From the frequency distribution table attach to the question, the scale rating with the highest number of student is 7 out of 10 and the number of students that responded with this rating is 27 students.
