Stanâ€™s savings account has a balance of $2257. After 5 years, what will the amount of interest be at 10% compounded quarterly?

Mary Co. paid dividends of $5,000, $6,200, and $8,000 during Year 1, Year 2, and Year 3, respectively. The company had 1,700 sha

Monica [59]

Answer :

Amount of dividend paid =$1,350

Explanation :

The computation is shown below:

As per the data given in the question,

Dividend per year for preferred stock = $1700 × $100 × 3.5%

= $5,950

Particulars Year 1 Year 2 Year 3

Preferred dividend $5,000 $6,200 $6,650

($700+$5,950)

Preferred dividend in arrears $950 $700

($5,950-$5,000) ($5,950+$950-$6,200)

Therefore dividends for common shareholders is

= $8,000 - $6,650

= $1,350

4 0

3 years ago

At what rate per cent per annum will 4000 yield an interest of 410 in 2 years?

andrey2020 [161]

Answer:

5%

Explanation:

The applicable formula is A = P( 1 + r) ^ n

where A= amount: P is the principal, r, interest rate, n time

In this case,

A = principal + interest = Rs 410 { Rs 4000 + Rs410}

P= Rs 4000

r= ?

n= 2

r is?

4410 = 4000(1 + r) ^2

(1 + i)^ 2 = 4410/4000

(1 + i)^ 2 = 1.1025

1 + i = √1.1025

1 + i = 1.05

i = 1.05 - 1

i = 0.05

0.05 × 100 = 5%

5 0

3 years ago

For the year ended December 31, a company had revenues of $187,000 and expenses of $109,000. $37,000 in dividends were paid duri

Dovator [93]

Answer:

D) Debit income summary 187000, credit revenues 187000

Explanation:

When dividend is declared, following journal entry is passed

Retained Earnings Dr.

To Dividend Payable

(Being declared dividend recorded)

When dividends are actually paid, the journal entry is

Dividend Payable A/C Dr.

To Cash A/C

(Being dividend paid recorded)

Income summary account is prepared as a temporary account while income statement represents permanent account.

Income summary shows net income balance i.e Revenue less expenses.

As per the given information in the question, debiting income summary account with total revenues of $187000 would be wrong.

3 0

3 years ago

The following information is available for Wildhorse Co. for the month of January: expected cash receipts $59,320; expected cash

ziro4ka [17]

Answer:

Ending cash balance$8,230

Explanation:

Preparation of basic cash budget for the month of January.

Wildhorse Co CASH BUDGET for the month of January

Beginning cash balance$11,890

Add: Cash receipts $59,320

Total cash available $71,210

($59,320+$11,890)

Less: Cash disbursements ($66,850)

Excess of available cash over cash disbursements $4,360

Financing needed $3,870

($8,230-$4,360)

Ending cash balance$8,230

Therefore the basic cash budget for the month of January will be $8,230

5 0

3 years ago

When should you write a functional (skills) résumé? a. when you work history does not have obvious gaps. b. when you are making

Paul [167]

One should write a functional (skills) resume when you are making a career change.

<h3>What is a resume?</h3>

A resume is a document that outline information about a job applicant including his or professional experience.

The document also contains applicant work skills and background details.

Hence, one should write a functional (skills) resume when you are making a career change.

Learn more about resume here : brainly.com/question/14178136

#SPJ4

5 0

3 years ago