Homework Answers
| a. | |
| EBIT | 45,000 |
| Less: Interest Expense | 12,500 |
| Earnings before taxes | 32,500 |
| Less: Taxes 30% | 9,750 |
| Earnings after taxes | 22,750 |
| Less: Preferred Dividends | - |
| Earnings available for common stockholders | 22,750 |
| b. | |
| EBIT | 45,000 |
| Less: Interest Expense | - |
| Earnings before taxes | 45,000 |
| Less: Taxes 30% | 13,500 |
| Earnings after taxes | 31,500 |
| Less: Preferred Dividends | 12,500 |
| Earnings available for common stockholders | 19,000 |
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ote restes dividend expense Morgan borander het gr The pay $12.500 inwest The empays $12.500 preferred...
Interest versus dividend expense Michael Corporation expects coming before rest and takes to be $52.000 for...
Interest versus dividend expense Michael Corporation expects coming before rest and takes to be $52.000 for the current period. Assuming a fat ordinary tax rate of 30%, compute the firm's comings after and earnings for common stockholders earings where and preferred stock vidends any under the following conditions Therm pays $12 300 in interest The firm pays $12.300 in preferred stock dividends Complete the fragment of Michael Corporation's income statement below to compute the firm's earnings athers and carings viable...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $48,000 for...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $48,000 for the current period. Assuming a flat ordinary tax rate of 30%, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions: a. The firm pays $12,500 in interest. b. The firm pays $12,500 in preferred stock dividends. a. Complete the fragment of Michaels Corporation's income statement below to compute...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $41,000 for...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $41,000 for the current period. Assuming a flat ordinary tax rate of 29%, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions: a. The firm pays $11,800 in interest. b. The firm pays $11,800 in preferred stock dividends. a. Complete the fragment of Michaels Corporation's income statement below to compute...
Aug. 12 ๒ued 20.000 common shares for $1.70 per share. Ot. 1 Paid quarterly dividend to preferred...
please solve this p13-A
p13-9A
Aug. 12 ๒ued 20.000 common shares for $1.70 per share. Ot. 1 Paid quarterly dividend to preferred shareholders Dac I Paid quarterly dividend to preferred shareholders and a s0.25 per share Dec. 31 Loss for the year was $100000 (a) Journaline the transactions and the entries to close dividends and the Income b) Open gewral ledger accosunts for the sharcholden' equity accounts, enter the beginn Summary accoune entries from part (a). (c) Prepare the shareholders'...
Portfolio Project Option #1 is for accounting students who are sensing learners and learn best from...
Portfolio Project Option #1 is for accounting students who are sensing learners and learn best from concrete materials and examples. If this is your learning style preference, you are practical and careful with detail. For this assignment, you are required to complete Part 1, Part 2, and Part 3. You will present Parts 1 and 2 in Excel, and Part 3 of the Portfolio Project in a Word document, following the exact instructions that accompany each part. (The templates can...
Tony and Suzie graduate from college in May 2021 and begin developing their new business. They...
Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a...
the last two photos are the questions to be answered NAME DUE DATE 3/12/20 CROWN and...
the
last two photos are the questions to be answered
NAME DUE DATE 3/12/20 CROWN and PRINCE Crown & Prince are virtually identical companies, both companies began operations at the beginning of 2018 by issuing 20,000 shares, 35,00 par common stock $100,000 and long term debt of $200.000 During the year, both companies purchased inventory as follows: units Unit cost Jan-18 10,000 $4,00 Apr 18 10,000 $5.00 Aug-18 10.000 $800 Nov-18 10,000 $7.00 40,000 Total Cost 340.000 $50,000 $50.000 $70,000...
Required: 1. What is the amount of Apple’s accounts receivable as of September 30, 2017? 2....
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate....
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
Interest versus dividend expense Michael Corporation expects coming before rest and takes to be $52.000 for the current period. Assuming a fat ordinary tax rate of 30%, compute the firm's comings after and earnings for common stockholders earings where and preferred stock vidends any under the following conditions Therm pays $12 300 in interest The firm pays $12.300 in preferred stock dividends Complete the fragment of Michael Corporation's income statement below to compute the firm's earnings athers and carings viable...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $48,000 for the current period. Assuming a flat ordinary tax rate of 30%, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions: a. The firm pays $12,500 in interest. b. The firm pays $12,500 in preferred stock dividends. a. Complete the fragment of Michaels Corporation's income statement below to compute...
Interest versus dividend expense Michaels Corporation expects earnings before interest and taxes to be $41,000 for the current period. Assuming a flat ordinary tax rate of 29%, compute the firm's earnings after taxes and earnings available for common stockholders (earnings after taxes and preferred stock dividends, if any) under the following conditions: a. The firm pays $11,800 in interest. b. The firm pays $11,800 in preferred stock dividends. a. Complete the fragment of Michaels Corporation's income statement below to compute...
please solve this p13-A
p13-9A
Aug. 12 ๒ued 20.000 common shares for $1.70 per share. Ot. 1 Paid quarterly dividend to preferred shareholders Dac I Paid quarterly dividend to preferred shareholders and a s0.25 per share Dec. 31 Loss for the year was $100000 (a) Journaline the transactions and the entries to close dividends and the Income b) Open gewral ledger accosunts for the sharcholden' equity accounts, enter the beginn Summary accoune entries from part (a). (c) Prepare the shareholders'...
Portfolio Project Option #1 is for accounting students who are sensing learners and learn best from concrete materials and examples. If this is your learning style preference, you are practical and careful with detail. For this assignment, you are required to complete Part 1, Part 2, and Part 3. You will present Parts 1 and 2 in Excel, and Part 3 of the Portfolio Project in a Word document, following the exact instructions that accompany each part. (The templates can...
Tony and Suzie graduate from college in May 2021 and begin developing their new business. They begin by offering clinics for basic outdoor activities such as mountain biking or kayaking. Upon developing a customer base, they'll hold their first adventure races. These races will involve four person teams that race from one checkpoint to the next using a combination of kayaking, mountain biking, orienteering, and trail running. In the long run, they plan to sell outdoor gear and develop a...
the
last two photos are the questions to be answered
NAME DUE DATE 3/12/20 CROWN and PRINCE Crown & Prince are virtually identical companies, both companies began operations at the beginning of 2018 by issuing 20,000 shares, 35,00 par common stock $100,000 and long term debt of $200.000 During the year, both companies purchased inventory as follows: units Unit cost Jan-18 10,000 $4,00 Apr 18 10,000 $5.00 Aug-18 10.000 $800 Nov-18 10,000 $7.00 40,000 Total Cost 340.000 $50,000 $50.000 $70,000...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...
Ch 1 1. Given the following dat Dec 31 Year 2 Dec 31 Year 1 Total liabilities S128,250 $120,000 Total stockholders oquity 95.000 80.000 compute the ratio of liabilities to stockholders' equity for each year Round to two decimal places 1.50 and 107, 11.35 and 1.50 respectively respectively 1.07 and 1.19. 1.1.19 and 1.35 respectively respectively The liabilities and stockholder's equity of a company are $132,000 and $244.000, respectively. Assets should equal SS188.00 $132.00 p $376,00 12.000 A financial statement...
It is based on the multiple-choice question pasted below. Use the current 21 percent tax rate. (28) in the current year, Acom, Inc., had the following items of income and expense! Sales $500,000 Cost of sales 250,000 Dividends received 25,000 The dividends were received from a corporation of which Acom owns 30%. In Acom's current yoar income tax rotum, what amount should be reported as income before special deductions? A. $525.000 B. $508,750 C. $275,000 D. $250.000 The correct answer...
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