David Chen bought 200 shares of Beta Corp at $45.50 per share. After 15 months, he sold the stock for $52.75 per share. He paid a $42 commission when buying and a $53 commission when selling. During his ownership period, he received $275 in dividends.
Q: General accounting question
A: Step 1: Define Loan CompoundingA loan is said to be compounded when the interest is calculated based…
Q: Hi please solve this
A: To determine the inventory value using the lower-of-cost-or-market (LCM) method on an…
Q: A company's normal selling price for its product is $23 per unit. However, due to market…
A: Given that,FIFO Cost per Unit : $19Net Realizable Value (NRV) : $16Units in Inventory : 230Step 1 :…
Q: Hello tutor please provide this question solution general accounting
A: Step 1:First, calculate the earnings per share: Earnings per share = Net income / Number of shares…
Q: Answer the financial accounting problem
A: Explanation of Business Interruption Insurance:Business interruption insurance provides coverage to…
Q: On January 1, 2020, the dental partnership of Angela, Diaz, and Krause was formed when the partners…
A: Step 1: 2020 Interest = 10% Interest x Capital Balances, beginningSalary - givenRemainder = Net…
Q: what is Answer. Need helpful answer with Accounting method
A: Net cash flow = net income + depreciation expenseNet cash flow = $3,800,000 + $450,000Net cash flow…
Q: Give true answer
A: Step 1: Define StocksThe Stocks are the portion of the authorized capital made available to the…
Q: Reagan corp. Has reported a net income solve this financial accounting question
A: Step 1: Define Price-Earnings RatioIt is a valuation ratio used to determine if the stock is…
Q: Solve this following requirements a and b on these general accounting question
A: Step 1: Define Variable CostingIn the variable costing method, only variable production costs are…
Q: Sheffield Corp. has issued 96,000 shares of $5 par value common stock. It was authorized 509,000…
A: Step 1: The stockholder's equity section of the balance sheet shows the stocks outstanding in the…
Q: The expected variable cost per unit is 12.79 but use 13
A: Step 1: Identify the estimated number of units soldStep 2: Determine the variable cost per unit used…
Q: Can you please solve this general accounting problem?
A: Step 1: Define Adjusted Cost of Goods SoldThe adjusted cost of goods sold (COGS) is calculated by…
Q: Accounting 3.7 When should cross-dimensional analysis replace single-focus review? a) Interrelated…
A: Option a: This option is correct because cross-dimensional analysis takes into account the complex…
Q: Hy expert give me correct answer
A: Step 1: Define Cost of Goods SoldSome quantity may be sold to customers of the total goods…
Q: I want to correct answer accounting questions
A: Gross profit and gross profit percentage are key measures of a company's profitability. Gross profit…
Q: Please give me answer this general accounting question
A: Step 1: Define Gross ProfitGross Profit is the difference between net sales revenue and the cost of…
Q: Hi expert please give me answer general accounting
A: Step 1: Define Price to Earnings RatioThe price to earnings ratio (P/E) is one of the most commonly…
Q: Don't accept this. If u r not expert
A: Question 1: When should cross-dimensional analysis replace single-focus review?Answer: (a)…
Q: Financial Accounting
A: Step 1: Define Yield To CallThe yield to call(YTC) of a bond differs from its yield to…
Q: Which is correct?
A: Explanation of Revenue Recognition:Revenue recognition refers to the accounting principle that…
Q: Please given answer general accounting
A: a. To find the current EPS (Earnings Per Share):We know: P/E ratio = Price/EPSPrice = $122.40P/E…
Q: Hirt Corporation sells its product for $12 per unit. Next year, fixed expenses are expected to be…
A: To determine how many units Hirt Corporation must sell to achieve a net operating income of $69,000,…
Q: General Account :- Inc., a seafood distributor in the State of Florida, with a 34% combined income…
A: Step 1: Determine Depreciation Expense for Year 3The company uses MACRS depreciation for a 3-year…
Q: Please provide correct answer general accounting
A: Step 1: Define Finished GoodsFinished Goods are the goods the company manufactures by using the raw…
Q: Question 12 A company incurs the following costs per kin producing 25.000 XVZ which is a part that…
A: Detailed explanation:Costs to produce the 45000 units of Part XYZ Production cost = $ 13 total…
Q: SUBJECT = COST ACCOUNT Harris Corporation produces a single product. Last year, Harris manufactured…
A: To calculate the contribution margin per unit, we first need to determine the selling price per…
Q: Find the correct answer for this financial accounting question
A: Step 1: Define Cost of DebtRaising debt always comes with a cost, which is the interest payment on…
Q: Give Correct Answer
A: Why the other answers are incorrecta) Simple recognition works always: • This is not the case…
Q: answer
A: Explanation of Contribution Margin Ratio:The contribution margin ratio represents the percentage of…
Q: 4 prblm
A: Q1. When should cross-dimensional analysis replace single-focus review?Cross-dimensional analysis is…
Q: Solve this accounting questions
A: Step 1: Definition of Installment Sale MethodThe Installment Sale Method is a tax reporting approach…
Q: I want to correct answer accounting questions
A: Stockholders' equity represents the owners' claim on the company's net assets, and it changes based…
Q: Provide correct answer general accounting
A: Step 1: Definition of Contribution MarginThe Contribution Margin is the amount of revenue from sales…
Q: Chapter job costing
A: Explanation of Cycle Counting:Cycle counting is an inventory management technique that involves…
Q: Please given answer general account question
A: Step 1: Define Gross ProfitGross Profit is computed by deducting the cost to produced the units sold…
Q: The firm incurred $180, 000 in direct labor and overhead costs during the period and had $4800 in…
A: Explanation of Equivalent Units of Production: Equivalent units of production is a measure that…
Q: Please solve this question
A: Step 1: Define Gross Profit Gross Profit is calculated as sale minus cost of goods sold. The cost of…
Q: Hans Martin, president of Martin Corporation, believes that it is a good practice for a company to…
A: Payout ratio is the ratio of profit earned and attributable to common shareholders in a period to…
Q: Hello tutor please provide this question solution general accounting
A: To figure out the cash flow to creditors during 2023, we need to take into account both the interest…
Q: Hi expert please give me answer general accounting
A: Step 1: Define Operating Leverage FactorThe operating leverage factor measures the sensitivity of a…
Q: general Account posted
A: The correct answer is:(c) have no effect on net operating income for the period. ExplanationUnder…
Q: Financial accounting
A: Step 1: Define Degree of Operating LeverageThe degree of operating leverage refers to ratio stating…
Q: Eusey company requires sales solution this accounting questions
A: Step 1: Define Variable CostVariable cost refers to that portion of total cost of a company that…
Q: Give me correct answer
A: Step 1: Define Cost of Goods SoldFrom the total goods manufactured during a given period, some goods…
Q: Shelby Industries is ready to launch next year's model of their best selling product. Unfortunately,…
A: I hope you are finding the material engaging and informative. If you have any questions or…
Q: The cost of replacing a high-definition television production line in 6 years is estimated to be…
A: To determine the uniform deposit required every 6 months into a sinking fund, we use the Future…
Q: cost account solution want asap
A: Step 1: Introduction to cost accountingThe field of accounting known as cost accounting is utilized…
Q: Do fast answer accounting questions
A: Step 1: Definition of Work in Process (WIP) InventoryWork in Process (WIP) inventory refers to goods…
Q: Please need answer the general accounting question not use chatgpt
A: Step 1: Define Contribution MarginContribution Margin is the difference between a company's sales…
I want to correct answer general accounting
Step by step
Solved in 2 steps
- Shaylash bought 250 shares of stock at $31.38 per share. Several months later he sold the stock at $45.65 per share. His broker charges 4% commission for round lots and 5% for odd lots. Calculate the gain or loss on the transaction. (Show loss in parentheses)An investor bought 1,000 shares of ABC company at $15 per share. One year later, the investor sold the shares for $20. The investor earned dividends of $1000 over the one-year holding period. The investor also spent a total of $250 on trading commissions in order to buy and sell the shares. Calculate the HPR of the investment.Ayayai Corporation purchased 420 shares of Sherman Inc. common stock for $12,300 (Ayayai does not have significant influence). During the year, Sherman paid a cash dividend of $3.50 per share. At year-end, Sherman stock was selling for $31.50 per share. Prepare Ayayai's journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation (a) (b) (c) Debit Credit
- James Company purchased 900 shares of POP Company's stock as a long-term investment for $57,600. Four years later, 320 shares were sold for $62 per share. What is the amount of gain or loss on the sale? (Enter a loss as a negative number using a minus sign.)Ayayai Corporation purchased 300 common shares of Sigma Inc. for trading purposes for $9,300 on September 8 and accounted for the investment under ASPE at FV-NI. In December, Sigma declared and paid a cash dividend of $1.65 per share. At year end, December 31, Sigma shares were selling for $35.60 per share. In late January, Ayayai sold the Sigma shares for $34.60 per share. Prepare Ayayai Corporation’s journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit September 8 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Prepare Ayayai Corporation’s journal entry to record the dividends received. (Credit…Romina Inc. purchased 160,000 shares of Magui Company for $60 each. One month after the purchase, Magui Company declared a 2-for-1 stock split down. Romina Inc. subsequently sold 20,000 shares. During the last month of the reporting period, Magui Company declared $0.80 dividend per share. What amount should Romina Inc. report as dividend income?
- XYZ, Inc. owns 2,500 of the 10,000 outstanding shares of the common stock of ABC Corporation. The stock was originally purchased on January 1, Year 1 for $5 per share. During the year, ABC earned $100,000 in revenue and paid out dividends in the amount of $40,000. At December 31, Year 1, the stock is valued at $6 per share. By what amount should the Investment in ABC Corporation account increase as a result of this year's transactions? $10,000 O $25,000 O $15,000 O $2,500Bellows Inc. purchased 10,000 shares of Nesbitt Inc.’s common stock for $7.50 per share. Nesbitt Inc. has 100,000 shares of common stock outstanding. What account and amount is debited by Bellows Inc. to record the investment in Nesbitt Inc.? Assuming that Nesbitt Inc. paid a dividend of $0.40 per share, what account and amount is credited by Bellows Inc. to record the receipt of the dividend? 3 If Bellows Inc. sold 4,000 shares of Nesbitt Inc.’s common stock for $9.00 per share, how much gain on the investment would Bellows Inc. recognize?Swifty Corporation purchased 400 shares of Sherman Inc. common stock for $14,100 (Swifty does not have significant influence). During the year, Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $35.50 per share. Assume the stock is nonmarketable. Prepare Swifty's journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Account Titles and Explanation (a) (b) (c) Equity Investments Cash Cash Dividend Revenue Fair Value Adjustment Unrealized Holding Gain or Loss -Income Debit 14,100 1,300 100 Credit 14,100 1,300 100
- DEF purchased 15,000 shares in KMH Co on 1 August 20X6 at a cost of $6.50 each. Transaction costs on the purchase amounted to $1,500. At the year-end 30 September 20X6, these shares are now worth $7.75 each. What is the gain to be recognised and where it will be recorded according to two cases: (1) Shares held for sales (2) Shares held to collect contractual cash flows and sell them. Select the correct gain and the place it will be recorded.Gary purchased 250 shares of PAC stock for $37 per share and sold this same stockone year later for $44 per share. He paid commissions of $15 when he purchased thestock and $10 when he sold the stock. Dividends of $1.50 per share were paid duringthe year. The total rate of return on this investment was ?Sam bought through her broker 200 Apex Mining common stock at $61.50/share. The broker charged her 2% commission. One year later she sold the shares for $71.25. What are the proceeds for this stock market transaction?