Answer:
a) Maximum no. of shares that the company can issue
= Total Authorized Shares - Shares Outstanding
= 2100000 - 1400000
= 700,000
b) Number of shares to be issued to raise $44,000,000 at $55 per share
= 44,000,000 / 55
= 800,000
No, the firm would not be able to raise the needed fund.
c) The company will have to increase the number of authorized shares which would involve making amendments to its charter of incorporation. The amendments to the charter can be done only by vote of the existing shareholders.
a. Compute Selma's accrual basis gross receipts for 2015.
b. Selma paid cash for all of the purchases. The total amount paid for merchandise in 2020 was $1,300,000. At the end of 2019, she had merchandise on hand with a cost of $150,000. At the end of 2020, the cost of merchandise on hand was $300,000. Compute Selma's gross income (profit) from merchandise sales for 2015.
Answer:
a. $1,350,000
b. $200,000
Explanation:
The computation is shown below;
a. Accrual basis gross receipts for the year 2015 is
= Cash receipts + account receivable from year 2015 - collection in account receivable - proceeds of bank loan
= $1,400,000 + $250,000 - $200,000 - $100,000
= $1,350,000
b. Now the Gross income or profit is
As we know that
Gross profit is
= Sales - cost of goods sold
= $1,350,000 - ($1,300,000 + $150,000 - $300,000)
= $1,350,000 - $1,150,000
= $200,000
Selma's accrual basis gross receipts for 2015 would be $1,350,000, and her gross income (profit) from merchandise sales for the same year would be $200,000.
To calculate Selma's accrual basis gross receipts for 2015, we need to adjust her cash receipts, which totals up to $1.4 million. The receipts include $200,000 that was actually earned in 2014 (collected in 2015) and a $100,000 bank loan that does not count as earned revenue. So, we subtract these from the total receipts: $1,400,000 - $200,000 - $100,000 = $1,100,000. And we add the amounts receivable at the end of 2015 which is $250,000. So, Selma's accrual basis gross receipts for 2015 is $1,350,000 ($1,100,000 + $250,000).
For the second part of your question, Selma's gross income (profit) from merchandise sales for 2015 can be computed by calculating the cost of goods sold (COGS) and subtracting this from the gross receipts calculated above. Start by adding the cost of merchandise on hand at the end of 2019 ($150,000) to the purchases made in 2020 ($1,300,000). This gives us a presupposed cost of goods available for sale. We then subtract the cost of the merchandise on hand at the end of 2020 ($300,000). The COGS is, therefore, $1,150,000. Subtraction the COGS from the gross receipts gives us a gross income of $200,000 ($1,350,000 - $1,150,000).
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Answer:
Real Surplus is $200 billion
Explanation:
Inflation = 14%
Debt = $4 trillion = $4,000 billion
Nominal deficit = $360 billion
Real Deficit = Nominal deficit - (Inflation*Debt)
= $360 - 14% * 4,000
= $360 - 560
= -$200
Hence, the answer is Real Surplus of $200 billion
b. $600,000
c. $610,000
d. $625,000
Answer:
d. $625,000
Explanation:
cost of goods available for sale = cost of goods manufactured during the current period + finished goods inventory at the beginning of the period
cost of goods available for sale = $600,000 + $25,000 = $625,000
cost of goods sold = cost of goods available for sale - ending inventory = $625,000 - $40,000 = $585,000
The Cost of Goods Available for Sale is calculated by adding the Beginning Inventory and the Manufacturing Costs together, resulting in a total of $625,000.
To compute the Cost of Goods Available for Sale, you would add your Beginning Inventory (the cost of the goods on hand at the start of the period) to the cost of the purchases made during the period - which, in this case, would be the manufacturing costs. Given that there were no changes in the raw materials or work in process inventory and since the manufacturing costs incurred totaled $600,000, we can outline the following:
Beginning Inventory of finished goods = $25,000
Manufacturing costs incurred = $600,000
Thus, to calculate the Cost of Goods Available for Sale:
Cost of Goods Available for Sale = Beginning Inventory + Manufacturing Costs=> $25,000 + $600,000 = $625,000
So, the Cost of Goods Available for Sale is $625,000.
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Answer:
(D). Employee master file.
Explanation:
An employee master file is a file kept by an organization that contains data, records and information on the employee.
Information such as; employee's name, address, date of birth, date of hire, sales record, salary to be received, and other payment details are contained in the master file.
If an employee's hourly wage rate is changed, it will be recorded in the employee's master file.
Answer:
The correct answer is letter "D": agency shop agreement.
Explanation:
Agency shop agreement is a union arrangement that allows employers to hire union and non-union workers without affecting the company's organization. In some cases, workers must join the union to keep the job, while in others, they could decide not to join the union but they must pay a fee to cover the expenses of collective bargaining.
Answer: A. Google Docs
Explanation:
Google Docs will be the best solution in this case because it is a cloud computing tool that enables people to work on a document simultaneously across the world. As others are working on the documents, the saves that they make are instantly saved on the document and reflected across all users who have access to the document at the time.