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Marianna [84]
2 years ago
14

Rock Bottom Gold Company recently repurchased 7 million shares of its common stock for $47 per share. The intent of the repurcha

se was to increase earnings per share to be more in line with competitors. Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0). Negative amounts should be indicated by a minus sign.)
Business
1 answer:
Eddi Din [679]2 years ago
5 0

Answer:

a. Assets = Liabilities  + Stockholder's Equity

Assets = Cash (7,000,000*$47) = -$32,90,00,000

b. Liabilities = No Effect

c. Stockholder's Equity = -$32,90,00,000

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tatyana61 [14]

Answer:

Interest= $26,131.91

Explanation:

Giving the following information:

Annual deposit= $2,000

Number of periods= 20 years

Interest rate= 5%

<u>First, we need to calculate the future value using the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {2,000*[(1.05^20) - 1]} / 0.05

FV= $66,131.91

<u>Now, we can determine the interest earned:</u>

Interest= future value - total investment

Interest= 66,131.91 - 20*2,000

Interest= $26,131.91

6 0
3 years ago
What is the reason for putting yourself on a budget?
choli [55]

Answer:

C

Explanation:

Helps you gain control of your finances and helps you achieve goals

7 0
1 year ago
Jonah and Cathy were sure that they had correctly answered most of their exam questions. However, they each scored less than 60
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6 0
2 years ago
Water bottle in a feild
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8 0
2 years ago
EB15.
Tems11 [23]

Answer:

Cost per unit under variable costing                               $

Direct material                                                                 110

Direct labour                                                                    150

Variable manufacturing overhead                                 <u> 75 </u>

Cost per unit                                                                   <u>335 </u>

<u />

Cost per unit under absorption costing                         $

Direct material                                                                 110

Direct labour                                                                    150

Variable manufacturing overhead                                  75    

Fixed manufacturing overhead ($2,700,000/90,000)  <u>30</u>        

Cost per unit                                                                   <u>365</u>

Explanation:

In variable costing, cost per unit is calculated by the addition of all variable costs while in absorption costing, fixed manufacturing overhead      application rate is added to the variable costs in order to obtain the cost per unit.

8 0
3 years ago
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