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3 years ago

A personal financial statement is also called which of the following?

Business

1 answer:

Phantasy [73]3 years ago

3 0

Answer:

The term personal financial statement refers to a document or spreadsheet that outlines an individual's financial position at a given point in time. The statement typically includes general information about the individual, such as name and address, along with a breakdown of total assets and liabilities. The statement can help individuals track their financial goals and wealth, and can be used when they apply for credit.

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A firm has EBIT of $375,000, interest expense of $75,000, preferred dividends of $6,000 and a tax rate of 40 percent. The firm's

Andru [333]

Answer: 1.29

Explanation:

The following can be deduced from the question:

EBIT = $375000

Interest expense = $75000

EBT = EBIT - Interest Expense

= $375000 - $75000

= $300000

Before tax preference dividend

= Preferred dividend / (1 - Tax rate)

= 6000 / (1 - 40%)

= 6000 / 60%

= 6000 / 0.6

= $10000

The firm's degree of financial leverage will then be:

= EBIT / (EBIT - Interest expense - Before tax preference dividend)

= 375000 / (375000 - 75000 - 10000)

= 375000 / 290000

= 1.29

Therefore, the firm's degree of financial leverage is 1.29.

4 0

3 years ago

On June 5, 2019 , ABC Inc. instituted a 4-for-1 stock split. Before the split, ABC Inc. had 200,000 shares outstanding with a pr

Amiraneli [1.4K]

Answer:

Post split Shares: 800,000

Post split par value: $42

Explanation:

Given:

Number of out standing shares: 200,000
Price per share: $168

ABC Inc. instituted a 4-for-1 stock split, it means that every holder of 1 share will receive 4 shares. So the total of outs standing stock will be increased 4 time, which is:

200,000*4 = 800,000 shares

The price of a split stock is calculated by dividing the face value of the proposed share:

$168 /4 = $42 per share

So:

Post split Shares: 800,000
Post split par value: $42

8 0

3 years ago

The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in prep

Whitepunk [10]

Answer:

a. Cash = $17,200

b. Retained earnings = $48,300.

Explanation:

Equipment Net Book Value (NBV) = Cost - Accumulated depreciation = $43,000 - $17,400 = $25,600.

Retained earnings for the year = Net income - dividend = $19,300 - $6,000 = $13,300.

Closing balance of retained earnings = Beginning balance of retained earnings + Retained earnings for the year = $35,000 + $13,300 = $48,300.

The management of Mecca Copy Budgeted Balance Sheet

Fixed Asset

Equipment 25,600

Current Assets

Cash (see calculation below) 17,200

Accounts receivable 9,900

Supplies inventory 4,200

Total Assets 56,900

Equity

Common stock 5,000

Retained earnings (see calculation above) 48,300 

Total equity 53,300

Current Liability

Accounts payable 3,600

Total equity and liability 56,900

Note:

Cash = 56,900 - $25,600 - 9,900 - 4,200 = $17,200

4 0

4 years ago

In the first couple of decades of the 20th century, most people

mario62 [17]

B. paid cash for purchases
that right

3 0

4 years ago

Read 2 more answers

Barbara’s boutique shop sells 240 hair spray bottles in the month of April. When she orders more hair spray bottles it takes fiv

Phantasy [73]

Answer:1200 Units

Explanation:

The reorder point= Average daily consumption x lead time

=240 units x 5 days

=1200 units

Reorder point for Barbara’s boutique shop for hair spray bottles is 1200 units. Reorder point is the point when the owner needs to place order for new inventory to keep the firm stocked during all the time. However in reality this might not be applicable due to external factors which affect the business demand and supply.

4 0

4 years ago