Answer:
The Journal entries are as follows:
(i) On March 15,
Dividend [0.075×220,000,000] A/c Dr. $16,500,000
To dividend payable $16,500,000
(To record the declaration of cash dividends)
(ii) On March 30,
No Journal entry required
(iii) On April 13,
Dividend payable A/c Dr. $16,500,000
To cash $16,500,000
(To record the payment of cash dividends for its 220 million shares)
Answer:
67,600 tons
Explanation:
Weighted average costing adds the value of beginning inventory in the period cost to calculate the average cost per unit.
According to this method the equivalent units formula is as follow
Equivalent Units = Unit completed and transferred to Finished goods + Units in Work in Process x Completion percentage
Conversion
Equivalent Units = 55,000 + 18,000 x 70% = 67,600 units
Answer:
$31.64
Explanation:
The computation of the net asset value is shown below:
= Total net value ÷ Total outstanding shares
where,
Total net value is
= Number of shares × Offer price + profit
= 500 shares × $19.14 + $6,250
= $9,570 + $6,250
= $15,820
And, the number of outstanding shares is 500
So, the net asset value is
= $15,820 ÷ 500 shares
= $31.64