The Preferred Stockholders of Gothic Architecture will be paid $10,800 ($3,600 x 3), while the Common Stockholders get $1,200.
Data and Calculations:
1,200 shares, 6% Cumulative Preferred Stock at $50 par value = $60,000
Dividends in 2020 = $0
Dividends in 2021 = $0
Dividends in 2022 = $12,000
Preferred dividends = $10,800 ($60,000 x 6%) x 3)
Common stock dividends = $1,200 ($12,000 - $10,800)
Thus, the Preferred Stockholders will be paid arrears of $7,200 ($3,600 x 2) and $3,600 for the current year, while the Common Stockholders will only get $1,200 ($12,000 - $10,800).
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A comparative balance sheet for Lomax Company containing data for the last two years is as follows: Lomax Company Comparative Balance Sheet This Year Last Year
Assets Current assets: Cash and cash equivalents $ 91,000 $ 66,000 Accounts receivable 630,000 660,000 Inventory 632,000 440,000 Prepaid expenses 26,000 15,000 Total current assets 1,379,000 1,181,000 Property, plant, and equipment 2,470,000 1,880,000 Less accumulated depreciation 639,000 578,000 Net property, plant, and equipment 1,831,000 1,302,000 Long-term investments 122,000 190,000 Loans to subsidiaries 140,000 80,000 Total assets $ 3,472,000 $ 2,753,000
Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 902,000 $ 590,000 Accrued liabilities 37,000 60,000 Income taxes payable 159,000 134,000 Total current liabilities 1,098,000 784,000 Bonds payable 720,000 460,000 Total liabilities 1,818,000 1,244,000 Stockholders' equity: Common stock 1,130,000 1,020,000 Retained earnings 524,000 489,000 Total stockholders' equity 1,654,000 1,509,000 Total liabilities and $3,472,000 $2,753,000 stockholders' equity The following additional information is available about the company's activities during this year:
a. The company declared and paid a cash dividend this year.
b. Bonds with a principal balance of $400,000 were repaid during this year.
c. Equipment was sold during this year for $80,000. The equipment had cost $170,000 and had $64,000 in accumulated depreciation on the date of sale.
d. Long-term investments were sold during the year for $150,000. These investments had cost $68,000 when purchased several years ago.
e. The subsidiaries did not repay any outstanding loans during the year.
f. Lomax did not repurchase any of its own stock during the year.
The company reported net income this year as follows: $3,400,000 2,108,000 1,292,000 1,036,000 256,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 82,000 (26,000) 56,000 312,000 100,000 $ 212,000
Required: Using the indirect method, prepare a statement of cash flows for this year. (List any deduction in cash outflows as negative amounts.)
Lomax Company Statement of Cash Flows Operating activities: 0 0 Net cash provided by operating activities Investing activities: 0 Net cash provided by investing activities Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0
Based on the information given, it can be deduced that the ending cash and cash equivalents of Lomax Company will be $91000.
From the computation, the values gotten include:
Net cash flow from operating activities = $422000Less: Net cash flow in investing activities = -$590000Add: Net case flow from financing activities = $193000Net increase in cash = $25000Beginning cash and cash equivalents = $66000Ending cash and cash equivalents = $91000.Read related link on:
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China has adopted a three-tier board structure, with a board of directors, a supervisory board, and a subordinate board. China has adopted a three-tier board structure, with a board of directors, a supervisory board, and a subordinate board. false
It is false that China has adopted a three tier structure of board of the company.
The Two Tier Board structure refers to the corporate structure that consists of two separate Boards of directors that govern such entity.
Currently, the Chinese companies have a two-tier board structure which consists of the supervisory board and a board of director.Hence, it is false that China has adopted a three tier structure of board of the company.
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The Three Little Pigs purchased three houses for a total cost of $160,000. Appraisal values for the three completed houses were: straw house, $40,000; wood house $60,000; and brick house $100,000. Using the basket purchase allocation, the recorded value of the brick house should be ______.
Using the basket purchase allocation, the recorded value of the brick house should be $80,000.
First step is to calculate the allocation percentage
Straw house Wood house Brick house Total
Fair market value $40,000 $60,000 $100,000 $200,000
Percentage 20% 30% 50%
($40,000/$200,000) ($60,000/$200,000) ($40,000/$200,000)
Second step is to allocate using basket purchase allocation
Straw house=20%×$160,000
Straw house=$32,000
Wood house= 30%×$160,000
Wood house=$48,000
Brick house=50%×$160,000
Brick house=$80,000
Inconclusion the recorded value of the brick house should be $80,000.
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Lay's Meat Market has 8,000 shares of stock outstanding at a price per share of $13. What will the price per share be if the firm declares a 3-for-5 reverse stock split
The price per share be if the firm declares a 3-for-5 reverse stock split is $21.67.
First step is to calculate the number of shares
Number of shares=[(8,000/$13)×3/5]
Number of shares=369.23
Second step is to calculate the price per share using this formula
Price per share=Shares of stock outstanding/Number of shares
Let plug in the formula
Price per share=8,000/369.23
Price per share=$21.666
Price per share=$21.67 (Approximately)
Inconclusion the price per share be if the firm declares a 3-for-5 reverse stock split is $21.67.
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Reducing an employee’s compensation because of poor performance is known as negative reinforcement.
Answer:
Explanation:
True
Because with building costs soaring out of sight, there is pent-up demand for a well-designed, green-built, contemporary home that's actually affordable. That means it has to be efficiently constructed, and the best way to do this is in a factory, where it can be put together on an assembly line, like an automobile. A company has developed the Glidehouse can be built that way in 19 days in a factory near Vancouver, British Columbia, then trucked to your property. Glidehouse is produced through:
Answer: The Assembly Process
Explanation: I hope it helps you!
Glidehouse is produced through the assembly process by putting together an assembly line, like an automobile.
What is assembly process?An assembly process is the one in which materials to be manufactured are combined continuously by workers to produce an identified product.
It is an arrangement in which the product being assembled by workers passes consecutively from operation to operation until completed.
Hence, Glidehouse is produced through the assembly process by putting together an assembly line, like an automobile.
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Please help! Need an expert in this and will give 50 points and brainliest if it’s answered. Getting reported if it’s answered for points
Pat Jones is a college student who is planning some networking opportunities for the current semester. Pat wanted to look professional for these events and felt a new suit would be a real benefit; however, the cost for the first event ended up being $75 which was a strain on the budget. Pat did not want to attend the
remaining three events in the same outfit, so a new strategy was developed. Instead of paying for new suits in cash, Pat decided to charge the suits on a credit card, wear them to the events, and then return them the next
day for full credit.
2. Do you feel Pat's new strategy is ethical? Why or why not? Could there be any consequences with this strategy?
3. How will this new strategy impact the company/companies where the suits are purchased?
4. What journal entry/entries would the company have to record related to the return of the suit?
Answer:
2. I feel like Pat's new strategy isn't ethical. Pat doesn't pay for the suits; he just buys them and then returns them. Pat benefits, but the store he gets the suits from doesn't. In fact, they are harmed from this transaction because they are unable to have the suit for others to buy while Pat has it. There could be consequences with this strategy. For example, the suit might be damaged, and Pat won't be able to return it. Another problem is that others might find out about Pat's strategy, and they might view them as unprofessional. This is a problem for Pat since the reason Pat wore those suits was to look professional.
3. The stores are harmed from this transaction. They are unable to sell the suits to other buyers. The stores lose potential customers, so the stores lose potential money.
4. The companies should record that Pat had bought the suit only to return it the next day, so that they can act accordingly when Pat or someone else comes back to "buy" a suit.
Explanation:
Grover Manufacturing is leasing some equipment from Woodson Equipment. Woodson has classified the lease as a sales-type lease. For what reason would Grover Manufacturing increase the present value of the lease payments
Answer: The lease contains a bargain-purchase option.
Explanation:
Grover Manufacturing increases the present value of the lease payments This is so that the lessee will be informed of any changes to the next lease payments.
How lease affect the debt?
Your DTI ratio rises as a result of the debt obligation that leasing a car adds to your credit report. You can, however, make your lease payments more affordable by negotiating in certain ways, which will lessen the impact. The gross capitalization cost is one lease component you might discuss to reduce the monthly payment.
Grover Manufacturing increases the present value of the lease payments This is so that the lessee will be informed of any changes to the next lease payments. Due to the increased future lease payments as a result of this modification, the lessee now has a greater lease debt.
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what is decentralisation?
Based on business management, Decentralization is the transfer of control of an organization to various departments or authorities rather than one single one.
Different types of Decentralization De-ConcentrationDelegationDevolutionPrivatizationGenerally, decentralization is known to yield better, more timely decisions and increase organizational motivation.
Hence, in this case, it is concluded that decentralization is the sharing of authorities.
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In the context of the common mistakes made during succession planning, the provisions of the _____ require boards to increase the priority of CEO succession.
Firms often have different ways of appointing successors. In the context of the common mistakes, the provisions of the Sarbanes-Oxley Act require boards to increase the priority of CEO succession.
The Sarbanes-Oxley Act provisions is known to input more demands that boards do in CEO succession planning.The Sarbanes–Oxley Act of 2002 is a common United States federal law that gives power for some specific practices in financial record keeping and reporting for corporations.
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Brenda and Felicity each deposit $200 in the same type of interest-earning
retirement account each month. Brenda began at age 30, and Felicity began
at age 40. Assuming they each retire at 67, which statement is true?
A. Felicity will have more money in her retirement account.
B. They will both have the same amount of money in their retirement
accounts.
C. Brenda will have more money in her retirement account.
D. Neither of them will be able to use the money in their retirement
accounts until several years after they retire.
Answer:
c
Explanation:
Assuming they each retire at 67, the statement is true Brenda will have more money in her retirement account. Thus the correct option is C.
What is a retirement account ?A retirement account is referred to as a type of saving account in which teh pension and other benefits received by an individual during their course of career will be collected which helps them during their age of retirement when they do not have any active source of income.
In the example, it is stated that Brenda and Felicity each contribute $200 each month to the same kind of interest-bearing retirement account. Felicity started at age 40, while Brenda started when she was 30.
Assuming that each retires at 67, Brenda will have more money in her retirement account as she started putting the amount earlier than the Felicity, so have more savings than Felicity.
Therefore, option C is appropriate.
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A good handler wants to use a thermometer to measure the air temperature inside of a cooler. To what temperature should the thermometer
be accurate?
Answer:
2°F, or ±1.0°C
Explanation:
The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 45,000 shares were originally issued and 5,000 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared
The amount of cash dividends to be paid if a $2 per share dividend is declared is $80,000
Total number of shares issued
= 45,000
Shares reacquired
= 5,000
Total number of outstanding shares
= 45,000 - 5,000
= 40,000
Then,
Cash dividends to be paid
= Total number of outstanding shares * Share dividend declared
= 40,000 * $2
= $80,000
Therefore, the amount of cash dividends to be paid if a $2 per share dividend is declared is $80,000
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When reporting inventory using the lower of cost or market method, market should not be more than: Multiple Choice Replacement cost. Net realizable value. Selling price. Net realizable value less a normal profit margin.
Considering the accounting principle, when reporting inventory using the lower cost or market method, the market should not be more than "Net realizable value less a normal profit margin."
This is because the lower cost or market method is a method that emphasizes that during the inventory measurement, inventory should be documented on the balance sheet using their historical price or the market value, that is, the value of the inventory when purchased.
This implies that the replacement cost of inventory cannot be lower than net realizable value, less a normal profit margin.
Hence, in this case, it is concluded that the correct answer is option D. "Net realizable value less a normal profit margin."
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GeonHouses, a leading manufacturer and supplier of crockery, charges three dollars for each soup bowl. The cost of manufacturing each soup bowl is one dollar. In this scenario, the difference between the price GeonHouses charges per soup bowl and the cost of making it is referred to as _____.
The difference between the price that GeonHouses charges its customers and the cost of manufacturing a bowl of soup is C. captured value.
The captured value represents the difference between the $3 selling price and the $1 cost of manufacturing a bowl of soup for customers.
This captured value is also known as the gross profit. Based on the gross profit, GeonHouses deduct its expenses and taxes to determine the actual net income.
The $2 difference is not an abstract, modified, or differentiation value.
Data and Calculations:
Selling price per bowl of soup = $3
Manufacturing cost per bowl = $1
Captured value = $2 ($3 - $1)
Thus, the $2 difference is a captured value for GeonHouses.
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Options for this question are:
A. abstract value
B. modified value
C. captured value
D. differentiation value
Discuss the possible ways that purchasing becomes aware of the need to evaluate and select a supplier.
Explanation:
This lesson discusses the basics of project procurement management. Project procurement management is a critical part of overall project management, and we will use an example to show how this topic fits into everyday project management activities.
DaaS is utilized for provisioning critical data on demand.
What makes a good leader
Answer:
A good leader is someone who is willing to hold up their own issues to help others. Another example of a good leader is someone who always tries to help no matter what.
Is L. Gore a mechanistic or an organic organization?
Lolita’s team meets every Tuesday morning. Lolita always brings doughnuts to these meetings, and she always starts the meeting by asking who’s had a big success that week, which encourages participation. Lolita’s habitual actions were developed during the ____________________ stage of team development.
a. storming
b. preforming
c. forming
d. norming
Answer:
d. norming
Explanation:
Lolita’s team meets every Tuesday morning. Lolita always brings doughnuts to these meetings, and she always starts the meeting by asking who’s had a big success that week, which encourages participation. Lolita’s habitual actions were developed during the _______norming______ stage of team development.
Answer:
Lolita's habitual actions were developed during the norming stage of team development.
Explanation:
d. norming
What are the portfolio weights for a portfolio that has 145 shares of Stock A that sell for $47 per share and 200 shares of Stock B that sell for $21 per share
Based on the information given the portfolio weights for a portfolio are:
Stock A 0.6187; Stock B 0.3815.
First step
Shares Price per share Total value
Stock A 145 $47 6,815
Stock B 200 $21 4,200
Total 11,015
Second step
Portfolio weights
Stock A [ 6,815 / 11,015 ] 0.6187
Stock B [ 4,200 / 11,015 ] 0.3813
Inconclusion the portfolio weights for a portfolio are: Stock A 0.6187; Stock B 0.3815.
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orthwest Fur Co. started 2021 with $114,000 of merchandise inventory on hand. During 2021, $590,000 in merchandise was purchased on account with credit terms of 2/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $8,700. Merchandise with an invoice amount of $4,800 was returned for credit. Cost of goods sold for the year was $372,000. Northwest uses a perpetual inventory system. Assuming Northwest uses the gross method to record purchases, what is the cost of goods available for sale
Answer:
The cost of goods available is 3900
XYZ Co. makes a processor that requires a metal that can be found in a single mine in Peru. Do you expect the price elasticity of supply for this processor to be elastic or inelastic? Explain.
Answer:
mAGIC
Explanation:
Service providers like cable companies have tiered pricing and also charge their customers according to a schedule of fees. Sometimes customers are able to negotiate for a lower price by getting fees or service charges waived for a certain amount of time if they contact customer service and threaten to cancel their service. The flexibility on the part of service providers is an attempt to practice:_________
The flexibility on the part of service providers is an attempt to practice Perfect Price discrimination.
A Price discrimination is a pricing strategy that tends to charges consumers different prices for similar goods or services.
Here, because of the customer negotiate for a lower price with threat to cancel the service if not agreed encourages price discrimination because the firm will not want to lose customer.
Therefore, the flexibility on the part of service providers is an attempt to practice Perfect Price discrimination.
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If Intermountain Healthcare wants to facilitate horizontal communication among health care professionals and administrators at its 22 hospitals and over 300 clinics, it could promote the use of email for this purpose. What guideline would not be an appropriate part of the organization’s email policy?
a. Emails are the most efficient way to send information to many people at once. Because of a message’s potential broad impact, make sure to confirm that it is accurate and professional before hitting Send.
b. Email is the medium of choice for communicating disappointing or negative information, because using email avoids potentially heated personal interactions that may adversely impact the work environment.
c. Emails are best for short messages, so lengthy documentation of procedures or policies should be communicated another way, such as through handbooks or documents posted to the organization’s intranet.
d. Emails lack the nonverbal component of communication, so if it’s possible that one party misunderstands the other, employees should move the communication to a phone conversation or meeting.
Answer:
b. Email is the medium of choice for communicating disappointing or negative information, because using email avoids potentially heated personal interactions that may adversely impact the work environment
Which of the following employees derives their income from a fee for the items sold?
a. commission
b. piece rate
C. salaried
d. tip
ut
Answer:
a. commission
Explanation:
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Answer:
A. commission
Explanation:
2021 edge
what will happen when unity is not in organization ? explain in details.
Firms in an oligopoly often Group of answer choices Have no control over the price of their product. face perfectly elastic demand curves. make decisions based on the behavior or expected behavior of their competitors. operate without regard to the behavior of competing firms.
Based on economic situation analysis, the Firms in an oligopoly often "make decisions based on the behavior or expected behavior of their competitors."
This is because firms in an oligopoly tend to act inter-dependently.
This implies that the firms in oligopolies can act together to fix prices to maximize the possible profits in their industries.
Oligopoly is a term in economic theory used to describe the market condition whereby the smaller number of firms are producing a commodity.
Hence, in this case, it is concluded that the correct answer is option C. "make decisions based on the behavior or expected behavior of their competitors."
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Explain 5 reasons why organizations restrict their staff from communication with press
Answer:
Explanation:
Work environment.
People's attitudes and emotional state.
Time zone and geography.
Distractions and other priorities.
Cultures and languages.
What does being organized in the workplace mean?
A. that an employee is good at listening
B. that an employee has good math skills
C. that an employee is reliable
D. that an employee works well with a team