Answer:
$371
Explanation:
The computation of additional interest during the fourth year is shown below:
but before that we need to do the following calculations
Amount = Principal × (1 + (rate of interest ÷ (1 × 100)))^(1 × number of years)
A = $5,000 × (1 + (6.7% ÷ (1 × 100)))^(1 × 3)
= $5,000 × (1 + (6.7 ÷ 100))^(1 × 3)
= $5,000 × (1 + 0.067)^3
= $5,000 × (1.067)^3
= 5000 × 1.214
= $6,070
Now, Interest gained after 3 years on the amount of Principal is
= $6,070 - $5,000
= $1,070
Here Evelyn issued interest which is half that is earned at the end of the 3rd year
Sp,
Half of the interest gained will be
= $1,070 ÷ 2
= $535
Now,
The new Principal amount for 4th year is
= $6,070 - $535
= $5,535
So, the final amount in the fourth year is
A = P × (1 + (r ÷ n))^(nt)
= $5,535 × (1 + 0.067 ÷ 1 ]^(1 × 1)
= $5,535 × 1.067
= $5.905.845
Hence the additional interest in the fourth year is
= $5,905.845 - $5,535
= $370.845
or
= $371
Therefore for computing the additional interest during the fourth year we simply applied the above formula.
On December 31, 2020, Dow Steel Corporation had 770,000 shares of common stock and 47,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 5% common stock dividend on May 15 and paid cash dividends of $570,000 and $86,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 68,000 common shares. In keeping with its long-term share repurchase plan, 4,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2,950,000. The income tax rate is 25%.
Required:
Compute Dow's earnings per share for the year ended December 31, 2021. (Do not round intermediate calculations. Enter your answers in thousands. Round "Earnings per share" answer to 2 decimal places.)
Numerator/Denominator= Earnings per share
Numerator?
Denominator?
Earnings per share?
The earning per share will be "$3.30". A further solution is provided below.
Given:
Common stock,
= 770,000
Paid cash dividends,
= $570,000
Income tax rate,
= 25%
Common and preferred shareholders,
= $86,000
For the year ended, Dow's net income,
= $2,950,000
According to the question,
→ The weighted average number of shares outstanding will be:
= [tex]770000\times \frac{12}{12}[/tex]
= [tex]770000\times 1.05[/tex]
= [tex]808,500[/tex]
or,
= [tex]68,000\times \frac{10}{12}[/tex]
= [tex]56667\times 1.05[/tex]
= [tex]59,500[/tex]
or,
= [tex]4000\times \frac{6}{12}[/tex]
= [tex]\frac{4000}{2}[/tex]
= [tex]2000[/tex]
The total weighted average will be:
= [tex]808,500+59,500+2000[/tex]
= [tex]870,000[/tex]
hence,
The Earning per share will be:
= [tex]\frac{2,950,000-86,000}{870,000}[/tex]
= [tex]\frac{2,864,000}{870,000}[/tex]
= [tex]3.30[/tex] ($)
Thus the above is the right answer.
Learn more about EPS here:
https://brainly.com/question/2144395
In recent years, the United States has Group of answer choices had a large goods trade surplus with the rest of the world. exported more services abroad than it has imported. maintained an overall trade surplus (goods and services combined) with the rest of the world. had a small goods trade surplus with Japan
Answer:
exported more services abroad than it has imported.
Explanation:
The US in recent years have been the largest exporter of services in the world. The United states is as of today known as a global leader in services export which has been seen to grow seven fold over the past 34 years especially from areas like insurance and financial services. From an average of 40 countries(both emerging and advanced economies), the country has the lowest trade barriers in 14 out of 18 services sectors.
Cost-push inflation is A. inflation caused by increases in aggregate demand that are not matched by increases in aggregate supply. B. inflation caused by decreases in aggregate supply that generate an even larger decrease in aggregate demand. C. inflation caused by decreases in aggregate supply that are not matched by decreases in aggregate demand. D. inflation caused by increases in aggregate demand that generate an even larger increase in aggregate supply.
Answer:
C. inflation caused by decreases in aggregate supply that are not matched by decreases in aggregate demand
Explanation:
Inflation occurs when the cost of a basket of goods increases over a period of time. The purchasing power of money is reduced. It is characterised by low supply and high demand.
There are two drivers of inflation: cost push inflation and demand pull inflation.
Cost push inflation results when there is an increase in cost of production of goods and services.
This reduces the amount of goods supplied and increases their price.
Demand does not reduce in this scenario, so reduced supply does not match the excess demand.
On the other hand demand pull inflation occurs when there is increased demand for goods and services. Supply cannot meet the increased demand
Adams is the executive partner of Adams & Co., CPAs. One of its smaller clients is a large nonprofit charitable organization. The organization has asked Adams to be on its board of directors, which consists of a large number of the community’s leaders. Membership on the board is honorary. Adams & Co. would be considered to be independent
Answer:
As long as Adams does not perform or give advice on management functions
Explanation:
With regard to the above and in addition to Adams not performing or giving advice on management functions, he will be independent so long his membership on the board is purely honorary, s(he) is identified as an honorary director in all the company's letter head and externally circulated materials; where s(he) is named as a director or trustee and does not vote or participate in any management functions. He may however give advice to the organization as a member of the board when such is required.
James,the marketing manager for an automobile manufacturer,observes frequent conflicts between two of his subordinates,Jeff and Kevin.He asks the human resource department to help,and the department's training manager,Kelly,investigates.She tells James that the two subordinates lack interpersonal communication skills,but would be likely to improve with proper training.This scenario suggests that Kelly has conducted a(n)_____.A) institutional analysisB) market analysisC) person analysisD) organization analysisE) instructional analysis
Answer: Person analysis
Explanation:
Based on the scenario that have been given in the question, the scenario suggests that Kelly has conducted a person analysis.
A person analysis is a phase which helps to identify the individuals that are in an organization who lacks certain skills and should therefore be trained.
A person analysis helps to show the individuals that aren't meeting the organization's desired performance.
Malcolm Lewis has come up with the idea of a system for picking up people's cars while they are at work, washing and waxing them, and returning them for a fee. Having been a big success in his home city, Malcolm plans to expand his operation into other cities. The service described here seems best suited to
Answer:
Franchising
Explanation:
Franchising is a strategy that companies use to expand their business in which one party called the franchisee pays the other party the franchisor a specific amount of money to have access to the company's processes, knowledge and brand to sell the product or service in a specific place using the name of the company. This would be the best suited strategy for this service because the company can expand without having to get a big amount of capital using the resources of other people and this can allow to grow faster and the franchisee can have a better knowledge of the specific market.
Bakery A sells bread for $2 per loaf that costs $0.50 per loaf to make. Bakery A gives a 70% discount for its bread at the end of the day. What is the salvage value of its bread? $2.00 $0.10 $0.50 $0.60
Answer:
Salvage value = $0.60
Explanation:
Selling Price = $2 per loaf
Discount on price = 70%
So, salvage percentage is 100% -70% = 30%
So, Salvage value = Salvage/Percentage * Selling price
Salvage value = 30/100 * $
Salvage value = $0.60
An attorney participated in a program sponsored by a nonprofit association to provide representation at no cost to low-income individuals involved in tax disputes with the Internal Revenue Service (IRS). The attorney, who initially lacked the expertise necessary to properly represent such individuals, attended classes sponsored by an organization through which she gained sufficient knowledge of the tax law to competently represent such individuals. After satisfactorily representing several individuals referred to the attorney by the organization, the attorney learned from a friend about a store clerk with limited means who was involved in a dispute with the IRS regarding a previously claimed earned income tax credit. The attorney made a phone call to the store clerk, with whom she had had no previous contact either professionally or personally, and offered to represent the store clerk without charge in her tax dispute with the IRS. Was the attorney subject to discipline for making the phone call
No, the attorney is not subject to discipline.
Within legal parlance, when a person becomes subject to discipline, it means that he or she has been found guilty of breaking the rules, guidelines, or regulations of the profession and could be punished or disciplined as a result.
In the question above, the attorney had not only attended classes/training required to enable them to provide legal representation to clients who have dispute issues with the Internal Revenue Service (IRS) but had also satisfactorily represented such clients.
In other words, he holds both the foundational training in law, the specialist training in IRS matters, and the experience required to represent the store clerk.
It is also constitutional for the state to provide pro-bono legal representation to those who could not afford it.
The attorney, therefore, was not subject to discipline.
Learn more about legal representation here:
https://brainly.com/question/12660112
An agent is discussing an equity index annuity purchase with a client. The agent explains that there are several which she feels are equally suitable for the client, but one of the companies is offering a trip for 2 to Las Vegas for reaching certain sales goals. She continues by stating that this sale will put her over the goal and win her the trip. If the client purchases that annuity, the agent
A) will probably be disciplined for failure to disclose the potential conflict of interest
B) should pack her bags for the trip; she earned it
C) should only sell what is suitable for the client based on all available information
D) should pack her bags and leave the firm before the compliance department learns of her actions
Answer:
B) should pack her bags for the trip; she earned it
Explanation:
In this scenario, it can be said that if the client purchases that annuity, the agent should pack her bags for the trip; she earned it. Since the annuity that has been recommended by the agent is offering her an incentive, and the agent fully disclosed that fact to the client, then she did her duty correctly. In the case that the client decides to purchase the annuity, they do so with full knowledge of the potential conflict of interest.
The ________ is a job analysis method that depends on a panel of experts to determine the standards that need to be met by an ideal worker.
Answer:
Panel of experts
Explanation:
For analyzing the job in the correct way, the expert panels are equally important. Expert in this mean who has perfect in his or her area or specialization that contains sufficient knowledge and skills
Different jobs have different experts that are required time to time
Its motive is to analyze the job in a correct and right way
Also, it determines that the standards of an organization are met or not by an ideal worker
Wealth generating activities always:
a. produce positive externalities to society
b. produce gains for one party
c. increase wealth for everyone
d. Increase total surplus
Answer:
d. increase total surplus
Explanation:
Wealth generating activities always increase total surplus.
Surplus occurs when the available resources, goods, assets, etc., exceeds what is currently used. In other words, it simply means when supply exceeds demand.
Wealth creating activities makes wealth almost in every hand, thereby an increase in total surplus occurs. If wealth creating activities occur in manufacturing, it leads more companies to produce more, thereby total surplus in production occurs.
A representative from AT&T called Dr. Michaels after he switched to its new U-verse telephone system. The firm wanted to make certain he was satisfied and asked if he had any questions concerning his new service. This is an example of ________ call.
Answer: follow up call
Explanation:
From the question, we are informed that a representative from AT&T called Dr. Michaels after he switched to its new U-verse telephone system and that the firm wanted to make certain he was satisfied and asked if he had any questions concerning his new service.
The above is a follow up call. A follow up call is a call that is made after a transaction has taken place or previous enquiry regarding a product has been made in order to know the latest about the product.
Fresh Harvest Company, which is based on Georgia, packages and sells vegetables. Hayden, who is a resident of Indiana, buys a Fresh Harvest product, eats it, and suffers severe food poisoning. Hayden wants to file a suit against Fresh Harvest. The diversity of citizenship between these parties means that Group of answer choices
Answer:
Federal and state courts have concurrent jurisdiction.
Explanation:
The concurrent jurisdiction arises when there are more than one court that contain a distinct system but has similar jurisdiction for the same case. Now if concurrent jurisdiction arise between the federal and state courts so the rule would be seen as superior because of clause of supremacy.
Hence, the correct option is b.
Spencer Co. has a $280 petty cash fund. At the end of the first month the accumulated receipts represent $51 for delivery expenses, $159 for merchandise inventory, and $20 for miscellaneous expenses. The fund has a balance of $50. The journal entry to record the reimbursement of the account includes a:
Answer:
Credit to cash $230
Explanation:
Preparation of the Journal entry for the reimbursement of the account of Spencer Co.
Based on the information given we were told that the company spent the amount of $51 for delivery expenses, the amount of $159 for merchandise inventory, and the amount of $20 for miscellaneous expenses from their petty cash fund at the end of the month, which means that the journal entry to record the reimbursement of the account will be:
Dr Delivery expenses $51
Dr Merchandise inventory $159
Dr Miscellaneous expenses $20
Cr Cash $230
(To record petty cash reimbursement)
Addams Corporation paid cash dividends totaling $75,000 during its most recent fiscal year. How should this information be reported on Addam's statement of cash flows?In operating activities as a source of funds.In investing activities as a source of funds.In financing activities as a source of funds.In investing activities as a use of funds.In financing activities as a use of funds.
Answer:
The answer is E. In financing activities as a use of funds.
Explanation:
In cash flow, to be a source of fund means there is cash inflow i.e cash is coming in to the business and to be a use of fund means there is cash outflow i.e cash is going out of the business the business.
Also in cash flow, we have three sections - operation, investing and financing sections.
For cash flow from operating activities, use of fund or source of fund about how a business carries its normal activities are important here.
Cash flow from investing activities is about long term Investment the company is engaging on e.g sale or Purchase of machinery.
Cash flow from financing activities is about how the company is funding the business or how the firm is repaying its shareholders for using their fund e.g payment of dividends(use of fund i.e cash outflow)
The comparative balance sheets for Swifty Company show these changes in noncash current asset accounts: accounts receivable decreased $80,000, prepaid expenses increased $28,500, and inventories increased $43,500. Compute net cash provided by operating activities using the indirect method, assuming that net income is $228,900.
Answer:
$236,900
Explanation:
Computation for net cash provided by operating activities using the indirect method
Net income $228,900
Add : Account receivables $80,000
Less: Prepaid expenses ($28,500)
Less :Inventories ($43,500)
NET CASH by OPERATING ACTIVITIES $236,900
Therefore net cash provided by operating activities using the indirect method is $236,900
Anderson sold a property to Kelly. The contract contained the following statement: "Buyer to accept the property in an 'as is' condition." Both the seller and the broker knew that the plumbing was in a major state of disrepair, but did not tell Kelly. Would an action against the broker and the seller be successful?
Answer:
The action against the seller by Kelly would not be successful. This is because, the contract agreement drafted by the seller contains that clause "as in" condition. It would be believed that, Kelly saw the condition in the contract, but still went ahead to purchase the house by signing the seller's contract agreement of sell. Whatever state the house is in would be taken by Kelly.
Explanation:
Carfax offers a report on used cars for $39.99. It details the ownership type and history, vehicle mileage, accident reports, and other information. Carfax is an example of how markets try to:
Answer:
lessen the lemons problem by reducing asymmetric information.
Explanation:
Since in the question it is mentioned that the Carfax offered a report on a cars that are used for $39.99. The information involves type of ownership, history, vehicle mileage, accident reports, and other type of information
Based on the above information, the markets lowered the lemon problem i.e. asymmetric information that represents the failure of information
A firm with a low credit rating from the bond-rating agencies would have Multiple Choice a low debt-to-equity ratio and a low quick ratio. a low debt-to-equity ratio. a low times-interest-earned ratio. a low times-interest-earned ratio and a low quick ratio. a low quick ratio.
Answer:
Correct Answer:
4. A low times-interest-earned ratio and a low quick ratio.
Explanation:
A bond rating agencies are organization that helps to find the credit worthiness of a government or corporate bond. is When a firm became rated low by the bond rating agencies, it shows that, it has a low quick ratio (low credit worthiness).
Lili spent $120 on a new sweater rather than using this money to buy her personal finance textbooks. The cost of doing without the textbooks is called the cost of buying the sweater. Group of answer choices
Answer:
opportunity cost
Explanation:
The opportunity cost is the cost that is incurred for purchasing any other thing in place of one thing or we can say it is a sacrification done to purchase another thing
Here in the question it is mentioned that the Lil spent $120 for purchasing a new sweater instead of buying her finance textbooks also the cost of buying the sweater is known as the non doing textbooks cost
So here it is a opportunity cost
An insurance company estimates its objective risk for 10,000 exposures to be 10 percent. Assuming the probability of loss remains the same, what would happen to the objective risk if the number of exposures were to increase to 1 million? A) It would decrease to 1 percent. B) It would decrease to 5 percent. C) It would remain the same. D) It would increase to 20 percent.
Answer:
A) It would decrease to 1 percent.
Explanation:
Given that:
Objective risk for 10,000 exposures = 10%
The objective risk could be explained to mean the actual loss incurred within a given period. The objective risk also decreases as the sample increases, in this case as the number of exposure increases, the exposure risk decreases.
In th question above, with an exposure value of 10,000; objective risk is 10%
When the exposure increases to 1,000,000
(10,000 / 1,000,000) * 100%
0.01 * 100%
= 1%
What is the difference between revenue and profit?
Answer:
Revenue is the total amount generated by the sales of goods or by services related to company's primary operations. However, profit is the amount of income left after accounting for all expenses, debts and etc.
Francis is a busy manager. She needs to quickly let her employees know about shift schedule changes for Wednesday afternoon, so she sends them an email. Anne knows that in business, time is a valuable commodity. What is Anne's main consideration when selecting her communication method
Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a _______ system.
Answer:
Total quality management.
Explanation:
Since Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a total quality management system.
A total quality management (TQM) can be defined as a management tool used to attain customer's satisfaction and improved productivity leading to long-term success in the business. The starting point or first step of the total quality management (TQM) is customer focus.
Hence, in order to achieve a long-term success in customer satisfaction, organizations should use the total quality management approach by involving all of its employees with high standards and work ethics.
Cart Co. purchased an office building and the land on which it is located for $750,000 cash and an existing $250,000 mortgage. For realty tax purposes, the property is assessed at $960,000, 60% of which is allocated to the building. At what amount should Cart record the building
Answer:
$600,000
Explanation:
The computation of the amount to be recorded for the building is shown below:
But first we have to determine the total acquisition cost of land which is as follows
= Cash + mortgage
= $750,000 + $250,000
= $1,000,000
Now it is mentioned that 60% is allocated to the building
So, it would be
= $1,000,000 × 60%
= $600,000
what is a business plan
Answer:
A business plan is a written document that describes in detail how a business usually a startup may defines its objectives and how it is to go about achieving its goals.
Answer:
According to Wikipedia, A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals.
_______________________ is a desirable property of transactions that ensures that once a transaction is committed its results should persist, even if there is a subsequent system failure. Atomicity Concurrency Durability Serializability\
Answer:
Concurrency is a desirable property of transactions that ensures that once a transaction is committed its results should persist, even if there is a subsequent system failure.
Explanation:
The Uniform Securities Act is designed to protect the general public and not restrict investment activities of institutional or professional investors. Any offer or sale to any of the following would be considered exempt from the registration and advertising filing requirements of the USA EXCEPT:__________- A) savings institutions B) broker-dealers C) chief executive officers of companies listed on the NYSE D) banks
Answer: C. chief executive officers of companies listed on the NYSE.
Explanation:
The Uniform Securities Act was put in place in order to curtail securities fraud. It was designed in order to protect the public.
It should be noted that Any offer or sale to any of the following would be considered exempt from the registration and advertising filing requirements of the USA except the chief executive officers of companies listed on the NYSE.
Etica, creatividad, compromiso, excelencia, integridad, credibilidad, pueden ser ejemplos de visiones.
Es VERDADERO O FALSO? . Si es Falso lo justificas.
Answer:si English?
Explanation:
The Federal Reserve Board foresees the probability of an overheated economy and the resumption of double-digit inflation. Therefore, the FRB takes actions to slow down the economy, including increasing the discount rate. Which of the following are likely effects of these moves?i An increase in the prime rate.ii An increase in bond yields and an accompanying decrease in bond prices.iii A slowdown in corporate growth.iv A decrease in corporate earnings.A) III and IV.B) I, II, III and IV.C) I and II.D) I, III and IV.
Answer: B. I, II, III and IV
Explanation:
From the question, we are informed that The Federal Reserve Board foresees the probability of an overheated economy and the resumption of double-digit inflation and that the FRB takes actions to slow down the economy, including increasing the discount rate.
The effect of this is that there will be a rise in prime rate, a rise in the bond yields and an accompanying decrease in bond prices, a slowdown in corporate growth and also reduction in corporate earnings. Therefore, option B is the right answer.