ZuoTi.Pro
Question

h45 Module 3 Homework Declan, Inc. Listed below are the accounts for Declan, Inc. at December 31, 2019 and their balances Advertising Expense Building Cash Common Stock ($1 par) Cost of Goods Sold Depreciation Expense Equipment Insurance Expense Interest Expense Inventory Bond Payable Note Payable Paid in Capital Excess Par Preferred Stock Prepaid Rent Rent Expense Retained Earnings 8,000 200,000 83,400 10,000 440,000 46,000 100,000 3,000 8,000 72,000 100,000 80,000 92,400 10,000 4,000 36,000 209,600 880,000 8,000 200,000 40,000 38,000 19,000 12,000 es Salaries Payable Salary Expense Security Deposit Tax Expense Taxes Payable Utilities Expense Declans beginning balance (12/31/18) in Retained Earnings was $131,200 and the beginning Common Stock balance was $6,000 with the beginning Capital in Excess of Par $54,000. The corporation issued 4,000 shares of common stock on April 1, 2018. The Note Payable requires annual payments of $20,000 on principal plus interest at 8% on December 31st of each year. The Bond Payable is interest only at 4% and the principal is payable in 5 years. It is convertible into 1,000 shares of common stock at the holders option. The preferred stock is 6% convertible preferred issued in 2015. The preferred is convertible into 300 shares of common stock. During the year, the company paid a $10,000 dividend on the common stock and paid the preferred dividend. The company has issued to its executives, stock options outstanding to purchase 500 shares of common stock at $23 per share. These are exercisable starting in 2021 and expire in 2025. The average stock price during the year was $11.50. The Marginal Tax rate is 30%. Prepare financials statements (3) for Declan. Provide detailed calculations of the earnings per share. There are more Problems on the next page46 Problem 2 How much do I need to deposit in the bank today at 8% compounded quarterly so that I will have $100,000 one year from today? Problem 3 How much do I need to invest today at 4% compounded annually in order to have $1,000,000 five years from today? Problem 4 How much do I need to put in the bank today in order to have $10,000 two years from today if interest is 8% compounded semi-annually? Problem 5 The Arsen Co. earned $500,000 last year. The company had 100,000 shares outstanding on January 1, sold 6,000 shares on July 1 and sold 6,000 shares on October 1. The Arsen Co. stock sells for $50 per share. Calculate the EPS.

Could you please solve all problems and provide me with a brief explanation  for each one as well.

business   finance   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

I can only answer 1 question at a time so I am solving problem 2. Attached is the image containing compound interest formula and calculations.

Fem comp ound indeest formula 00go0 .$ )00,000 느

Please do rate me and mention doubts, if any, in the comments section.

0 0
Add a comment
Know the answer?
Add Answer to:
h Could you please solve all problems and provide me with a brief explanation  for each one...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation:...

    EARNINGS PER SHARE EARNINGS PER SHARE WITH MULTIPLE POTENTIAL DILUTERS The following relate to Palmeto Corporation: Capital Stock: Common Stock, par $1, outstanding on 1/1/X1 90,000 shares Common Stock, issued 05/01/X1 6,000 shares Preferred Stock, par $20, percent (cumulative and nonconvertible) outstanding on 01/01/X1 2,500 shares Income data for year ending 12.31.X1: Income from Continuing Operations $134,000 Gain from Discontinued Operations (net of 40% tax) 10,000 Net Income 144.000 The following securities are outstanding for the entire year: 1. Stock...

  • Module # 1 Homework Problem 1 rom the following information for McStuffin Co. for the year...

    Module # 1 Homework Problem 1 rom the following information for McStuffin Co. for the year ended 12/31/18, prepare the Financial tatements. There were 100 shares of common stock issued on April 1, 2018 and a dividend of $5,000 was paid on November 30, 2018. Beginning Common Stock was $9,000 and beginning Retained Earnings was $57,500 Advertising Expense as Common Stock (1,000 shares) Capital in Excess Par Inventory Note Payable, Long-term Interest Expense Goodwill $ 1,000 47,000 1,000 9,000 25,000...

  • Please help me solve all the Requirements problems 1,2,3,4,5,6, and 8. Please give clear details and...

    Please help me solve all the Requirements problems 1,2,3,4,5,6, and 8. Please give clear details and explanations. Please label each requirement with the solution. Thank you, have a wonderful day! The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares of $1 par value common stock and 50,000 shares of 5%, $50 par value preferred stock. The company...

  • 1.) Compute net income available to common stockholders. 2.) Compute basic earnings per share. Round to...

    1.) Compute net income available to common stockholders. 2.) Compute basic earnings per share. Round to two decimal places. 3.) Compute the foregone interest expense AFTER TAX on the convertible bonds. 4.) Compute the per share effect of the convertible bonds. Round to two decimal places. 5.) Compute the foregone dividends on the convertible preferred stock. 6.) Compute the per share effect of the convertible preferred stock. 7.) Compute the incremental increase in the number of shares outstanding for the...

  • Can anyone help me with my homework problems? 1. Sunny Company has the following account balances...

    Can anyone help me with my homework problems? 1. Sunny Company has the following account balances after adjusting entries at December 31, 2012: Accounts Payable $24,000 Dividends 7,000 Treasury Stock, Common (22,000 shares) 98,000 Preferred Stock ($10 par) 80,000 Land 220,000 Cash 220,000 Equipment 120,000 Accounts Receivable 90,000 Common Stock ($1 par) 365,000 Sales 820,000 Prepaid Rent 70,000 Bonds Payable (due 2030) 120,000 Premium on Bonds Payable 8,000 Cost of Goods Sold 720,000 Interest Expense 20,000 Unearned Revenue 20,000 Allowance...

  • Part III: Problems. Solve the Following problems. Show all Computations 1. The following separate income statements ar...

    Part III: Problems. Solve the Following problems. Show all Computations 1. The following separate income statements are for Burks Company and its 80 percent-owned subsidiary, Foreman Company: Burks $ (402,000) 290,000 Revenues Expenses Gain on sale of equipment Equity earnings of subsidiary Foreman $ (302,000) 226,000 (16,000) (56,000) Net income $ (165,000) $ 92,000) Outstanding common shares 50,000 40,000 Additional Information • Amortization expense resulting from Foreman's excess acquisition-date fair value is $22,000 per year. Burks has convertible preferred stock...

  • Good evening, I am having some difficulty with this problem. Could someone please help me. If...

    Good evening, I am having some difficulty with this problem. Could someone please help me. If you wouldn't mind showing your work, this way I will understand how to work a problem like this in the future. Thank you in advance for your help. Module 5 Homework i Saved 3 Ringmeup Inc. had net income of $168,700 for the year ended December 31, 2019. At the beginning of the year, 37,000 shares of common stock were outstanding. On May 1,...

  • Please show all work. Thanks in advance! The information below pertains to Coronado Company for 2021....

    Please show all work. Thanks in advance! The information below pertains to Coronado Company for 2021. $1,140,000 2,010,000 Net income for the year 6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock Common stock, $10 par value Tax rate for 2021 Average market price of common stock 3,820,000 5,820,000 20% $25 per...

  • The shares of preferred stock issued by Saturn Corporation can be exchanged for common stock. However,...

    The shares of preferred stock issued by Saturn Corporation can be exchanged for common stock. However, any dividends in arrears are lost. Which of the following features are present in the preferred stock issued by Saturn? Select all answers that apply to this question. Convertible Redeemable Cumulative Noncumulative EyeCare Corporation issued 10,000 shares of 7%, $100 par value preferred stock at the beginning of Year 1. The company did not pay dividends in Year 1. However, preferred stockholders received dividends...

  • Throughout 2014, H had 3,770,000 shares of common stock issued and outstanding and 100,000 shares of...

    Throughout 2014, H had 3,770,000 shares of common stock issued and outstanding and 100,000 shares of 6%, $50 par value convertible preferred stock issued outstanding. Each share of preferred stock can be converted into 4 shares of B’s common stock. H’s net income for 2014 was $9,420,000. During 2014 H paid $300,000 of preferred dividends. H’s income tax rate is 20%. During the entire year ending 12-31-14, H had 400,000 outstanding and exercisable employee stock options that were granted to...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT