Homework Answers
Earnings available to common shareholders or equity holders is profit after tax and preferred dividend if any
Profit before tax - $ 534 (3060-126-600-1800)
Profit after tax - 534-(534*40%) - $320.4
Earnings available to common stock holders - PAT - Preferred dividend (320.4-18) - 302.4
Ans - $302.4
Account receivables and payables have no impact on profit in this given problem hence ignored
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A firm has the following accounts and financial data for 2014: $3,060 500 $1,800 Sales revenue...
A firm had the following accounts and financial data for 2019 Accounts receivable Interest expense Total...
A firm had the following accounts and financial data for 2019 Accounts receivable Interest expense Total operating expenses Sales revenue $3,060 500 126 600 Accounts payable240 Cost of goods sold Preferred stock dividends Tax rate Number of common shares outstanding $1,800 18 40% 1,000 The firm's net profit after taxes for 2019 is _. OA. OB. O C. ○ D· $206.25 $213.80 $320.40 -$206.40
Question 22 Afirm had the following accounts and financial data for the most recent fiscal year:...
Question 22 Afirm had the following accounts and financial data for the most recent fiscal year: Sales $4,500 Accounts Receivable 800 Interest Expense 241 Total Operating Expense 1200 Accounts Payable 300 Cost of Goods Sold 3.200 Preferred Stock Dividends 25 Tax rate 30% Shares Outstanding 1,500 The firm's after-tax profit for the year was O $70.00 O $100.00 -$868.70 0 - $42.30 O -$141.00
Oriole Limited reports the following statement of financial position accounts, in alphabetical order: Accounts payable $13,850...
Oriole Limited reports the following statement of financial
position accounts, in alphabetical order:
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600
Cash
9,350
Common shares
20,000
Equipment
35,500
Income tax payable
1,200
Intangible assets
5,000
Interest payable
300
Inventory
10,000
Prepaid insurance
1,000
Retained earnings
30,200
Salaries payable
800
Supplies
2,500
Unearned revenue
1,200
Vehicles
22,900
A. Classify each account as an Asset, Liability, or
Shareholders’ Equity item.
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600...
Question 7 (4 points) Benedict Company compiled the following financial information as of December 31, 2014:...
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A firm has net income of $95,000. Dividends are $35,000. How much does the firm put...
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A firm had the following accounts and financial data for 2019 Accounts receivable Interest expense Total operating expenses Sales revenue $3,060 500 126 600 Accounts payable240 Cost of goods sold Preferred stock dividends Tax rate Number of common shares outstanding $1,800 18 40% 1,000 The firm's net profit after taxes for 2019 is _. OA. OB. O C. ○ D· $206.25 $213.80 $320.40 -$206.40
Question 22 Afirm had the following accounts and financial data for the most recent fiscal year: Sales $4,500 Accounts Receivable 800 Interest Expense 241 Total Operating Expense 1200 Accounts Payable 300 Cost of Goods Sold 3.200 Preferred Stock Dividends 25 Tax rate 30% Shares Outstanding 1,500 The firm's after-tax profit for the year was O $70.00 O $100.00 -$868.70 0 - $42.30 O -$141.00
Oriole Limited reports the following statement of financial
position accounts, in alphabetical order:
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600
Cash
9,350
Common shares
20,000
Equipment
35,500
Income tax payable
1,200
Intangible assets
5,000
Interest payable
300
Inventory
10,000
Prepaid insurance
1,000
Retained earnings
30,200
Salaries payable
800
Supplies
2,500
Unearned revenue
1,200
Vehicles
22,900
A. Classify each account as an Asset, Liability, or
Shareholders’ Equity item.
Accounts payable
$13,850
Accounts receivable
13,900
Bank loan payable
32,600...
Question 7 (4 points) Benedict Company compiled the following financial information as of December 31, 2014: $560,000 120,000 Service revenue Common stock Equipment Operating expenses 160,000 500,000 Cash 140,000 Dividends 40,000 Supplies Accounts payable Accounts receivable 20.000 80.000 60,000 Retained earnings, 1/1/14 300,000 Benedict's assets on December 31, 2014 are 3 1) $940,000. 2) $380,000. 3) $680,000. 8 4) $320,000.
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