The following information is for Cullumber Inc. for the year ended December 31, 2021:Common shares, Jan. 1Common shares issued during yearRetained earnings, Jan. 1Office expenseDividends declaredRent expenseService revenueUtilities expenseSalaries expenseIncome tax expense(6)$16,8008,40048,7201,3444,20010,41651,2402,01625,2002,520 [5] In March of 2020, universities moved their courses online in response to the isolationconditions resulting from COVID-19. Subsequently, universities observed an increase in thenumber of Academic Integrity cases. A study of 90 students at CalTech (a small university-CTU2), showed that 10 students had guilty results in their Academic Integrity cases.Suppose a group 25 of these students is randomly selected for a more in-depth study.a. [2] What is the probability that exactly 3 of these 25 students had been found guiltyof an Academic Integrity offense?b. [3] What is the probability that more than one of these 25 students had a guiltyresult?Place your final answer to part a in the ANSWER BOX (4 decimals).Use the ADD A FILE to attach your scanned pdf file of your detailed answers to parts a & b.Answers not supported by a pdf file submission will be graded as zero.

Cullumber Inc.Income StatementRevenuesService Revenue$51,240ExpensesOffice Expense$1,344Rent…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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For the year ended December 31, 2020, Blossom Company reported the following: Net income Preferred dividends declared Common dividend declared Unrealized holding loss, net of tax Retained earnings, beginning balance Common stock Accumulated Other Comprehensive Income, Beginning Balance $300400 $643100 $843100 O $601900 49300 9900 5200 401900 200000 25000 What would Blossom report as total stockholders' equity?
The following financial information is available for Sunland Corporation. 2022 2021 Average common stockholders' equity $1,100,000 $877,000 Dividends paid to common stockholders 45,000 25,500 Dividends paid to preferred stockholders 18,500 18,500 Net income 285,000 190,000 Market price of common stock 18 13 The weighted-average number of shares of common stock outstanding was 76,000 for 2021 and 103,000 for 2022. Calculate earnings per share and return on common stockholders' equity for 2022 and 2021 (Round answers to 2 decimal places, e.g. 10.50% or 10.50.) Earnings per share Return on common stockholders' equity $ 2022 % $ 2021 %
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The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 62 on December 31, 20Y2. Marshall Inc. Comparative Retained Earnings Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $1,808,800 $1,544,500 Net income 414,400 316,300 Total $2,223,200 $1,860,800 Dividends: On preferred stock $13,300 $13,300 On common stock 38,700 38,700 Total dividends $52,000 $52,000 Retained earnings, December 31 $2,171,200 $1,808,800 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $2,413,380 $2,223,550 Cost of goods sold 825,630 759,580 Gross profit $1,587,750 $1,463,970 Selling expenses $541,940 $662,800 Administrative expenses 461,660 389,260 Total operating expenses $1,003,600 $1,052,060 Income from…
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Presented below is certain information pertaining to Edson Company. Assets, January 1 P240,000; Assets, December 31 230,000; Liabilities, January 1 150,000; Share capital, December 31 80,000; Retained earnings, December 31 31,000; Ordinary shares sold during the year 10,000; Dividends declared during the year 13,000; Compute the net income for the year. 24,000 11,000 37,000
Comparative Earnings per Share Lucas Company reports net income of $2,580 for the year ended December 31, 2019, its first year of operations. On January 4, 2019, Lucas issued 9,000 shares of common stock. On August 2, 2019, it issued an additional 4,200 shares of stock, resulting in 13,200 shares outstanding at year-end. During 2020, Lucas earned net income of $17,840. It issued 2,000 additional shares of stock on March 3, 2020, and declared and issued a 2-for-1 stock split on November 3, 2020, resulting in 30,400 shares outstanding at year-end. During 2021, Lucas earned net income of $29,184. The only common stock transaction during 2021 was a 20% stock dividend issued on July 2, 2021. If required, round your final answers to two decimal places. Required: 1. Compute the basic earnings per share that would be disclosed in the 2019 annual report. $ per share 2. Compute the 2019 and 2020 comparative basic earnings per share that would be disclosed in the 2020 annual report. 2020: $ per…
Below is a company’s stock quote on March 1, 2021: Name Close Net Chg Div P/E DSD 20.25 -.15 1.05 16 What is the company’s earnings per share (EPS)?
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Hyacinth Company established an imprest petty cash fund for P10,000 by writing a check drawn against its checking account. On June 30, the fund contained the following: Currency and coins Petty cash voucher #1 Petty cash voucher #2 Petty cash voucher # 3 5,000 2,500 2,000 600 On June 30, the entity wrote a check to replenish the fund. What is the amount of replenishment under the imprest fund system? A. 10,000 В. 5,600 С. 5,100 O D. 5,000

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