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lora16 [44]
3 years ago
5

Novak Corp. has 6000 shares of 5%, $100 par value, cumulative preferred stock and 12000 shares of $1 par value common stock outs

tanding at December 31, 2020. There were no dividends declared in 2018. The board of directors declares and pays a $55800 dividend in 2019 and in 2020. What is the amount of dividends received by the common stockholders in 2020
Business
1 answer:
Annette [7]3 years ago
5 0

Answer:

See below

Explanation:

Given the above data,

Preferred shares = 6,000 shares × $100 = $600,000

Dividend on preference shares = $600,000 × 5% = $30,000 per year

Dividend declared in 2019

= $55,800

Preferred dividend in 2019 = $30,000 × 2 = $60,000

Dividend declared in 2020 =$55,800

Preferred dividend declared in 2020 = $30,000 + $4,200 = $34,200

Dividend paid to common stock holders = $55,800 - $34,200 = $21,600

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Cordner Corporation has two production departments, P1 and P2, and two service departments, S1 and S2. Direct costs for each dep
Paladinen [302]

Answer:

$46,200

Explanation:

Calculation to determine the amount of S2 costs allocated to S1

S2 costs allocated to S1 =$66,000*0.70/(0.70 +0.10+ 0.20)

S2 costs allocated to S1 =$46,200/1.00

S2 costs allocated to S1 =$46,200

Therefore Under the step method of cost allocation, the amount of S2 costs allocated to S1 would be:$45,200

6 0
3 years ago
Collins Inc. is investigating whether to develop a new product. In evaluating whether to go ahead with the project, which of the
SVEN [57.7K]

Answer:

The answer is a. The project will utilize some equipment the company currently owns but is not now using.

Explanation:

If you look at all the other options that are listed here, they either are a significant sum to the company or has a significant the opportunity cost. In this one, company uses idle assets and therefore bears no opportunity cost.

4 0
4 years ago
He contract that contains provisions for surface leases related to a property is the _____.
vfiekz [6]

The contract that contains provisions for surface leases related to a property is the <u>Farm</u><u> </u><u>and Ranch contract.</u>

<u />

A void contract is a contract that fails a validity test and is therefore not a contract. A void contract is a contract that initially appears valid but may be terminated by a party deemed to have interfered in some way.

<u />

After a reasonable period of time, the contract is considered accepted and can no longer be objected to. Other examples include real estate contracts, attorney contracts, etc. If a contract is concluded without the free consent of the parties, it will be considered a void contract.

A voidable contract is a formal agreement between two parties that can be made unenforceable for a variety of legal reasons, including Errors, Misrepresentations, or Fraud. Excessive influence or coercion.

Learn more about contracts here brainly.com/question/984979

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8 0
2 years ago
Emma has decided that she needs to assess the risk and return of buying an extended warranty for her new laptop for school. whic
alukav5142 [94]

While purchasing the extending warranty for her new laptop, she is required to figure out some questions in order to identify the risk and return. The three questions can be :

a) Will the warranty cover the cost of physical damage?

b) Is the replacement cost lower than the warranty cost?

c) is the laptop worth the extra expense of the warranty?

<h3>What is the warranty?</h3>

Warranty is the guarantee raised by the vendor to the purchaser regarding the replacement or repairing of any acquired item within the allocated period of time. The general term of warranty is 1 year but it can exceed more than a year depending on the manufacturer.

Analysis of the questions is as follows:

a) Will the warranty cover the cost of physical damage?

As there are varied kinds of warranties associated with every product bought, so it is required to be known by her what type of damages are covered in the warranty which she is going to purchase.

b) Is the replacement cost lower than the warranty cost?

The cost of replacement can be greater than the cost of warranty so she vigilantly checked the prices of both as she needs to get the laptop replaced sometime in the future.

c) Is the laptop worth the extra expense of the warranty?

There are varied kinds of warranties and extra costs attached to the product which helps her in analyzing its quality.

Learn more about the choice of warranty here:

brainly.com/question/7720644

5 0
2 years ago
Pine Company provides for doubtful accounts expense at the rate of 2% of credit sales. The following data are available for 20X4
aev [14]

Answer:

the allowance for doubtful account balance is $28,000

Explanation:

The computation of the allowance for doubtful account balance is given below:

Allowance for Doubtful Doubts Balance

= Beg Balance + Bad Debt Expense - Accounts written off

= $18,000 + (2% of $1,500,000) - $20,000

= $18,000 + $30,000 - $20,000

= $28,000

hence, the allowance for doubtful account balance is $28,000

7 0
3 years ago
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