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Ahlam Kablawi
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Answered
Alpha-Omega Industries has 30,000 shares of $12 par common stock and 15,000 shares of $50 par, 5% preferred stock outstanding. Total dividends available are $162,000. Compute the dividends to be distributed to preferred and common stockholders under the following condition.
The preferred stock is participating and cumulative with no dividends distributed last year.
The preferred stock is participating and cumulative with no dividends distributed last year.
On Jul 11, 2024
Dividend for Preferred Stock: $50 par × 5% × 15,000 shares × 2 = $75,000
Dividend for Common Stock: $12 par × 5% × 30,000 shares = $18,000
Preferred total par = $50 par × 15,000 shares = $750,000
Common total par = $12 par × 30,000 shares = $360,000
Remainder of dividend: $162,000 - ($75,000 + $18,000) = $69,000
Preferred: $750,000/$1,110,000 × $69,000 = $46,621.62
Common: $360,000/$1,110,000 × $69,000 = $22,378.38
TOTAL Preferred: $75,000 + $46,621.62 = $121,621.62
TOTAL Common: $18,000 + $22,378.38 = $40,378.38
Dividend for Common Stock: $12 par × 5% × 30,000 shares = $18,000
Preferred total par = $50 par × 15,000 shares = $750,000
Common total par = $12 par × 30,000 shares = $360,000
Remainder of dividend: $162,000 - ($75,000 + $18,000) = $69,000
Preferred: $750,000/$1,110,000 × $69,000 = $46,621.62
Common: $360,000/$1,110,000 × $69,000 = $22,378.38
TOTAL Preferred: $75,000 + $46,621.62 = $121,621.62
TOTAL Common: $18,000 + $22,378.38 = $40,378.38
AK
Answered
Keynesian economics finds fault with the classical economic argument that wage and price flexibility would guarantee full employment because
A) large unions and businesses resist wage and price cuts and lower wages mean decreased incomes and consumer spending.
B) employment decisions are not influenced by wage rates.
C) investment decisions are made independently of wages and prices.
D) wage and price fluctuations have no bearing on levels of income and employment.
E) the National Labor Relations Act prohibits wage cuts.
A) large unions and businesses resist wage and price cuts and lower wages mean decreased incomes and consumer spending.
B) employment decisions are not influenced by wage rates.
C) investment decisions are made independently of wages and prices.
D) wage and price fluctuations have no bearing on levels of income and employment.
E) the National Labor Relations Act prohibits wage cuts.
On Jul 10, 2024
A
AK
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Why is the SEC's Rule 14c-3 important to the accounting profession?
On Jun 11, 2024
Rule 14c-3 is important to the accounting profession because it states that annual reports of a public company must include financial statements of the company that have been audited by CPAs as independent auditors.
AK
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A goldsmith with 100 gold coins in his safe and 100 receipts in circulation has a reserve rate of ________%.
On Jun 10, 2024
100
AK
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$150 a month for 72 months fits the definition of an annuity.
On May 12, 2024
True
AK
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In order for goods to be merchantable,the goods must ________.
A) pass without substantial objection in the trade or market for similar goods
B) pass without objection in the trade or market for similar goods; and be fit for the particular purpose(s) for which the buyer intends to use such goods
C) pass without substantial objection in the trade or market for similar goods; be fit for the particular purpose(s) for which the buyer intends to use such goods; and be adequately contained,packaged,and labeled as the agreement may require
D) pass without substantial objection in the trade or market for similar goods; be fit for the particular purpose(s) for which the buyer intends to use such goods; be adequately contained,packaged,and labeled as the agreement may require; and conform to the promises or affirmations made on the container or label (if any)
E) pass without objection in the trade or market for similar goods; be fit for the ordinary purposes for which such goods are used; be adequately contained,packaged,and labeled as the agreement may require; and conform to the promises or affirmations made on the container or label,if any
A) pass without substantial objection in the trade or market for similar goods
B) pass without objection in the trade or market for similar goods; and be fit for the particular purpose(s) for which the buyer intends to use such goods
C) pass without substantial objection in the trade or market for similar goods; be fit for the particular purpose(s) for which the buyer intends to use such goods; and be adequately contained,packaged,and labeled as the agreement may require
D) pass without substantial objection in the trade or market for similar goods; be fit for the particular purpose(s) for which the buyer intends to use such goods; be adequately contained,packaged,and labeled as the agreement may require; and conform to the promises or affirmations made on the container or label (if any)
E) pass without objection in the trade or market for similar goods; be fit for the ordinary purposes for which such goods are used; be adequately contained,packaged,and labeled as the agreement may require; and conform to the promises or affirmations made on the container or label,if any
On May 11, 2024
E