MANAGERIAL ACCOUNTING
17th Edition
ISBN: 9781264151455
Author: Garrison
Publisher: MCG
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Chapter IE, Problem 5IE
To determine
To calculate: The
To determine
To calculate: The
To determine
To calculate: The Average Collection period and Average Sales period for the year
To determine
To calculate: The Debt to Equity ratio at the end of the year and Equity Multiplier for the year
To determine
To calculate: The Net profit margin and Return on Equity for the year
To determine
To calculate: The Earnings Per share and Dividend payout ratio for the year
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General Accounting problem
what is the equity at the end of the year?
Webb Company purchased 90% of Jones Company for $990,000 when the book value of Jones was $1,000,000. Jones currently has 100,000 shares outstanding and a book value of $1,200,000.
Jones sells 20,000 shares of previously unissued shares of its common stock to outside parties for $10 per share.
What is the new percent ownership of Webb in Jones after the stock issuance?
Multiple Choice
60%
75%
90%
80%
64%
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- A parent company owns a 70% interest in a subsidiary whose stock has a valuation basis of $27 per share. On the last day of the year, the subsidiary issues new shares for $27 per share, and the parent buys its 70% interest in the new shares. Which of the following statements is true? Multiple Choice Since the sale was made at the end of the year, the parent’s investment account is not affected. Since the shares were sold for the same per share amount as the adjusted subsidiary value per share, and the parent bought 70% of the shares, the parent’s investment account is not affected except for the total acquisition amount for the new shares. Since the shares were sold for the same per share amount as the adjusted subsidiary value per share, the parent’s investment account must be decreased. None of these answer choices are correct. Since the shares were sold for the same per share amount as the adjusted subsidiary value per share, the parent’s investment…arrow_forwardCompute Ovitz Corporation's dividend yield during 2023 of this financial accounting questionarrow_forwardgeneral accountingarrow_forward
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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License