Answer:
IRS
Explanation:
The stockholders’ equity accounts of Culver Corporation on January 1, 2022, were as follows.
Preferred Stock (7%, $100 par noncumulative, 8,000 shares authorized) $480,000
Common Stock ($4 stated value, 480,000 shares authorized) 1,600,000
Paid-in Capital in Excess of Par Value—Preferred Stock 24,000
Paid-in Capital in Excess of Stated Value—Common Stock 768,000
Retained Earnings 1,100,800
Treasury Stock (8,000 common shares) 64,000
During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity.
Feb. 1 Issued 8,000 shares of common stock for $48,000.
Mar. 20
Purchased 1,600 additional shares of common treasury stock at $7 per share
Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1.
Nov. 1 Paid the dividend declared on October 1.
Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.
Dec. 31 Determined that net income for the year was $450,000. Paid the dividend declared on December 1.
(a) Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.)
(b) Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Use T-accounts.)
(c) Prepare the stockholders' equity section of the balance sheet at December 31, 2017.
(d) Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.)
Answer:
a) Feb. 1 Issued 8,000 shares of common stock for $48,000.
Dr Cash 48,000
Cr Common stock 32,000
Cr Paid-in Capital in Excess of Stated Value - Common Stock 16,000
Mar. 20 Purchased 1,600 additional shares of common treasury stock at $7 per share
Dr Treasury stock 11,200
Cr Cash 11,200
Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1.
Dr Retained earnings (4,800 x 100 x 7%) 33,600
Cr Preferred dividends payable 33,600
Nov. 1 Paid the dividend declared on October 1.
Dr Preferred dividends payable 33,600
Cr Cash 33,600
Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.
Dr Retained earnings (398,400 x $0.50) 199,200
Cr Common dividends payable 199,200
Dec. 31 Determined that net income for the year was $450,000. Paid the dividend declared on December 1.
Dr Common dividends payable 199,200
Cr Cash 199,200
Dr Income summary 450,000
Cr Retained earnings 450,000
b) T-accounts
Common stock
debit credit
$1,600,000
$32,000
$1,632,000
Paid-in capital in excess of par value - common stock
debit credit
$768,000
$16,000
$784,000
Treasury stocks
debit credit
$64,000
$11,200
$75,200
Retained earnings
debit credit
$1,100,800
$33,600
$199,200
$450,000
$1,318,000
Preferred stocks
debit credit
$480,000
Paid-in Capital in Excess of Stated Value - Common Stock
debit credit
$24,000
c) Stockholders' equity section
Paid-in capital:
Preferred Stock (7%, $100 par $480,000
noncumulative, 8,000 shares authorized)
Paid-in Capital in Excess of Par $24,000 $504,000
Value - Preferred Stock
Common Stock ($4 stated value, $1,632,000
480,000 shares authorized)
Paid-in capital in excess of par $784,000 $2,416,000
value - common stock
Total paid-in capital $2,920,000
Retained Earnings $1,318,000
Treasury Stock (9,600 common shares) ($75,200)
Total stockholders' equity $4,162,800
d) payout ratio = dividends per share / EPS
dividends per share = $0.50
EPS = $1.04
payout ratio = $0.50 / $1.04 = 0.48 = 48%
EPS = (net income - preferred dividends) / weighted average shares outstanding
net income = $450,000
preferred dividends = $33,600
weighted average shares outstanding = 400,000 - 8,000 + (8,000 x 11/12) - (1,600 x 79/365) = 398,987
EPS = ($450,000 - $33,600) / 398,987 = $1.0436 ≈ $1.04
return on common stockholders' equity = (net income - preferred dividends) / average stockholder's equity
average stockholders' equity = ($3,404,800 + $3,658,800) / 2 = $3,531,800
return on common stockholders' equity = $416,400 / $3,531,800 = 0.1179 = 11.79%
1. Who is an Antagonist?
Answer:
It's the person in the story who is kind of the 'bad guy'
Explanation:
They oppose the main character
Answer:
Hope it helps
Explanation:
a person who actively opposes or is hostile to someone or something; an adversary.
what is meaning of GST
Explanation:
goods and service tax I think that is the answer
Melissa Hill, sales manager for One-Hit-Wonder Record Company, was trying to create a new strategy to turn around the declining record sales the company was facing. Melissa needed to find a way to find out what the customers really wanted, since One-Hit-Wonder didn't have accurate information like the competitors did. It was imperative that she find the correct strategy and information because the company was in financial trouble. The company's President wanted all employees to help find information and work as a team to develop better relationships that might help the company. He also stated that he wanted the company to remain an independent company. Melissa realized that through hard work and team efforts, the company could get back on its feet as soon as they got reliable information.Mellissa will be working primarily with:<>The legal-political dimension.< >The labor market.< >The internal cultural dimension.< >Pressure groups.< >The sociocultural dimension.Which of the following best describes One-Hit-Wonder's culture?< >Clan culture< >Achievement culture< >Adaptability culture< >y culture< >None of these
Answer:
the answer to the first question is:
⇒ The sociocultural dimension.
the answer to the second question is:
⇒ Adaptability culture.
Explanation:
In a business environment, sociocultural dimension refers to the culture of the company and the values shared by its members, e.g. how is leadership defined in the organization, how important is customer service, etc.
When an organization possesses cultural adaptability, it means that its members can easily adapt to changes in the environment, e.g. Sears didn't possess cultural adaptability and was never able to successfully adapt to online retailing.
Do you think it is possible for a bad strategy to be implemented and executed well and
to create value for the business? Explain your answer.
Answer:
yes its possible for bad strategy to be implemented and executed well and
to create value for the business
FIRST ANSWER GETS BRAINLIEST! (Personal & Family Finance)
Martine’s son is five years old. He loves to swim, but every year he needs a new swimsuit because he is growing so fast. Martine doesn’t have a lot of extra income to spend on bathing suits. What financial advice would you give to Martine about making this purchase?
Borrow money from a friend to buy a suit each year.
Use a credit card to buy swimsuits and pay it off later in the year.
Buy the next year’s swimsuit at the end of the summer each year.
Answer:
Buy the next year’s swimsuit at the end of the summer each year.
Explanation:
The end of summer presents a perfect time to buy swimwear. It is the time when almost all retailers hold their swim clearance sales. As retailers attempt to clear out their inventory, they give goods discounts, which Martine could take advantage of.
Martine's son could still use the swimwear in the following season.
Explain 4 disadvantages of state owned entreprises
Answer:
State owned enterprises help the government to control certain strategic sectors of the economy,they provide very essential services to the people at cheaper and affordable rates,they protect the consumers from being exploited by private enterprises by offering them a cheaper and better alternative and Ensuring better public service
Explanation:
Goals should be manageable and large.
O A.
True
B.
False
Answer:
B) False
Explanation:
your goals can be above and beyond, may take a while to get there, but u will if u keep trying even if u fail the first time.
Which of the following is NOT a commonly used method to resolve
conflicts?
a)Mediation
b) Arbitration
c) Union Representation
d)Repossession
Answer:
d)Repossession
Explanation:
Conflicts arise out of serious disagreement of ideas, feelings, methodology, or actions. If unchecked, conflicts can result in a tense working environment, reduced morale, low productivity, or even violent behavior. To avoid the adverse effects of conflicts, the conflicting parties seek ways of resolving their differences.
Mediation, arbitration, and union representation are ways o resolving conflicts. They involve the use of an independent third party to help settle or issue directions on the matter, causing conflicts. Repossession is the recovery of goods or assets in case a buyer is unable to pay. It is a debt recovery tool.
explain the components of external environment.
Answer:
The external environment is split into two categories: micro and macro. Larger sociocultural influences that impact society as a whole are included in the macro or wide environment. It consists of six elements: the demographic, economic, physical, technological, political-legal, and social-cultural environments.
Explanation:
Hope this helps!
Please mark me as Brainlineast.
Which careers require a person to find independence in working alone?
Answer:
Visual Arts??
Explanation:
When they work on every visual art project, the artists want to be isolated and away from anyone. Few examples of visual artwork are architecture, craft, painting, and photography, and a lot more can be applied to this category. In any situation, though the artist likes solitude and being alone since it means that they are closer to nature, and can therefore rely more on their work that can be ruined by even the slightest flaw.
Candace works for a small marketing firm that focuses on ads that pop up on social media web pages. Candace most
likely works in
O Marketing Research.
O Professional Sales.
O E-Marketing.
O Distribution and Logistics.
Answer:
O E-Marketing.
Explanation:
E-marketing is Electronic marketing. It is also known as online marketing and refers to marketing done through the internet. E-marketing combines traditional marketing concepts with modern technology. It involves marketing a company's products and services through the internet using computers and mobile devices as mediums.
Answer:
E-Market
Explanation:
Did on edge
The rule of equal marginal utility per dollar spent suggests that consumers maximize utility by A. Equalizing across goods and services. B. Equalizing the marginal utility per dollar spent across goods and services. C. The marginal utility per dollar spent across goods and services. D. . E. Maximizing the marginal rate of substitution.
Explanation:
B-Equalizing the marginal utility per dollar spent across goods and services
Pls mark brainliest
Select three things are included in a product requirements document.(more than one answer)
[ ]customer stories
[ ]request for proposal
[ ]service providers
[ ]business plan
[ ]market data
Answer:
b d e
If i am wrong i am sorry
The correct answers are B,D, and E.
B. request for proposal
D. business plan
E. market data
what was the problem with some of the loans that Banks were making
Multicore microprocessors are formed by:
a) connecting a series of high powered processors through a single power source.
b) connecting a series of high powered processors through a single power source.
c) connecting identical processors in a parallel combination and drawing power from the same source.
d) connecting identical processors in a parallel combination and drawing power from the same source.
e) putting two or more lower power processor cores on a single chip. putting two or more lower power processor cores on a single chip.
f) slicing a flat chip into pieces and reconnecting the pieces vertically.
The first version of Windows to have a Start button and taskbar was?
Windows Vista
O Windows 95
Windows Millennium Edition
O Windows XP
For a criminal case, which of the following represents the correct order of
events during a trial?
A. The State presents opening arguments, then the defense presents
opening arguments; The State presents its case first, then the
defense presents its case.
B. The defense presents opening arguments, then the State presents
opening arguments; The State presents its case first, then the defense presents its case.
C. The defense presents opening arguments, then the State presents
opening arguments; The defense presents its case first, then the State presents its case.
D. The State presents opening arguments, then the defense presents
opening arguments; The defense presents its case first, then the State presents its case.
Answer: A. The State presents opening arguments, then the defense presents opening arguments; The State presents its case first, then the defense presents its case.
Explanation:
In a criminal trial the burden of proof lies with the State which means that it is up to them to prove that the individual is either guilty or not. For this reason they have to give the opening arguments.
The defense then gives their opening statement as well. After this is done the State presents its case and the facts thereof to the jury. The defense will now come and present its case and show their own interpretation of the facts of the case.
refers to the buying and selling of products and services
through an electronic medium such as the internet
O E-commerce
O Money orders
O Telegraphic money transfers
M-money
Explanation:
E commerce refers to the buying and selling of products and services through an electronic medium such as the internet.
Identify the items from the following list that are likely to serve as source documents. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)
1. Check
2. Statement of cash flows
3. Ledger
4. Prepaid insurance account
5. Invoice from supplier
6. Income statement
7. Company revenue account
8. Bank statement
9. Purchase order
Answer:
1. Check
5. Invoice from supplier
8. Bank statements
9. Purchase order
Explanation:
Source documents are used to trace a transaction. The main characteristic of a source document is that it does not originate within the company but needs to be signed or authorized by both the company and a third party such as a bank, a customer, and a creditor or supplier. The above are the only source documents on the given list.
Ernesto excels at mathematics and has a keen eye for analyzing information. He is also a skilled communicator and does an excellent job explaining things to other people. Ernesto enjoys using the computer to generate reports to summarize his findings. Which is most likely Ernesto's job title?
Answer:
Business analyst
Explanation:
Answer:
its d
Explanation:
edg. 2021
How does Ana spend her time in seedfolks?
Answer:
B
Explanation:
Got it right on edg 2020
Mark receives $400 per week for salary as a sales associate. His quota is $2750 and his commission is 10%. This week, Mark sold $29,000 in merchandise, $1800 of which was returned. calculate his gross pay.
Answer:
$3,120
Explanation:
A sales quota is the minimum volume a salesperson is expected to move to earn commissions.
Mark's quota is $2750
In the week, mark sold $29,000, but $1,800 was returned. The net sales were: $29,000 - $ 1,800 = $27,200
Mark is a 10% commission. The commissions will be 10% of net sales
=10/100 x $27,200
=0.1 x $27,200
=$2,720
gross pay will be weekly earnings plus commissions
=$400 +$2,720
=$3,120
Companies that fail to identify needs risk which of the following?
-loss of customers
-wasteful spending
-increasing interest
-increasing debt
Answer:
2. Wasteful Spending
Explanation:
what are the major components of a business operating plan?
Answer:
capital
investors
knowledge in field
21. A small object is placed at right angles to the axis of a fixed concave
mirror so as to form (i) a real (ii) a virtual image, twice as long as the
object. if the radius of curvature of the mirror is 40cm, what is the
distance between the two images?
Ans: 60cm
om
chat and in ito
Answer: 60 cm
Explanation:
Given that:
Radius of curvature (R) = 40 cm
Radius of curvature is 2 tines the Focal length:
Focal length (f) = 40/2 = 20
Object distance = u
Image distance = v
Image (v) = 2u
1/v + 1/u = 1 /f
1/2u + 1/u = 1/20
(1 + 2) /2u = 1/20
3 / 2u = 1/20
2u = 60
u = 60/2
u = 30 cm
v = 2u
v = 2(30)
v = 60 cm
In a business combination when each combining firm remains a legally incorporated separate entity:____.
a. the acquiring firm does not physically record the acquired firm's separate assets and liabilities.
b. the parent records on its accounting records each of the acquired assets and liabilities assumed in the business combination.
c. the parent company employs consolidated worksheet entries to help prepare a set of consolidated financial statements.
d. the parent records an investment account at the subsidiary's net book value of the assets acquired and liabilities assumed.
Answer:
a). the acquiring firm does not physically record the acquired firm's separate assets and liabilities.
c). the parent company employs consolidated worksheet entries to help prepare a set of consolidated financial statements.
Explanation:
Business Combination is characterized as an agreement through which the owner gains authority over a business or acquires it primarily to expand his/her business empire. When each combining firm persists a legally incorporated autonomous identity, 'the acquiring firm does not physically record the acquired firm's separate assets and liabilities and the parent company enrolls combined worksheet entries to assist prepare a group of combined financial statements.' It assists in making the acquisition easier and legally apt. Hence, options a and c are the correct answers.
Help plz
What is persuassive writing?
Answer: something to like negotiate someone to do something and give good reasoning
Explanation: for example, someone would want to dye their hair and they would write a letter to their mom saying why their mom should let them dye their hair
Data entered into a computer is called a...
Answer:
Input
Explanation:
Data going into the computer is called Input . Whatever goes into the computer. Input can take a variety of forms, from commands you enter from the keyboard to data from another computer or device. A device that feeds data into a computer, such as a keyboard or mouse, is called an input device.
As a private limited firm dealing with garment manufacturing, you have little cash in hand but considerable business potential. You suddenly get
an order to deliver 1,000 shirts at a price of $50 each. You have the entire infrastructure in place, but need $15,000 to procure the fabric and
accessories for shirts. How will you raise money to serve this order? How will the answer differ if the business is a sole proprietorship?
Answer:
Bank loans
Financial institutuions loans
Creditors
Explanation:
A private limited company depends on its retained earnings or assets . The other option available is that of getting financed through bank loans or other institutions serving as creditors to invest and the company may record the loan as accounts payable or long term loan which ever is possible.
The same would be for the sole proprietorship because it can even generate funds through bank loans or creditors.
In case of the public limited company the it would be different as it can raise funds through issuing new shares.