What is the net asset value of an investment company with $9,600,000 in assets, $610,000 in current liabilities, and 1,260,000 shares outstanding? Round your answer to the nearest cent. $ per share
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eBook
Problem 17-01 What is the net asset value of an investment company with $9,600,000 in assets, $610,000 in current liabilities, and 1,260,000 shares outstanding? Round your answer to the nearest cent. $ per share
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- Problem 17-10 Marin, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 960 shares @ $15 each $14,400 Rogers Company 860 shares @ $19 each 16,340 Chance Company 480 shares @ $8 each 3,840 Equity investments @ cost 34,580 Fair value adjustment (7,780 ) Equity investments @ fair value $26,800 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Marin, Inc. sold 300 shares of Chance Company for $12 per share. 3. On May 15, Marin, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $17, Rogers $18, and Chance $7. During 2021, the following transactions took place. 5. On February 1, Marin, Inc. sold the remaining Chance shares for $7 per share. 6. On March 1, Rogers Company paid a $2 per share…eBook Problem 10-04 Firm A had the following selected items on its balance sheet: Cash $ 28,000,000 Common stock ($50 par; 2,100,000 shares outstanding) 105,000,000 Additional paid-in capital 16,800,000 Retained earnings 64,000,000 How would each of these accounts appear after: a cash dividend of $1.5 per share? Round the number of shares outstanding to the nearest whole number and the other answers to the nearest dollar. Cash $ Common stock ($ par; shares outstanding) $ Additional paid-in capital $ Retained earnings $eBook Problem 9-16 A firm’s balance sheets for the last two years are as follows: YEAR 20X1 Assets Liabilities and Equity Cash $ 24,000 Accounts payable $ 10,000 Accruals 14,000 Accounts receivable 18,000 Current bank note 7,000 Inventory 17,000 Long-term debt 40,000 Plant and equipment 41,000 Common stock 10,000 Retained earnings 19,000 $ 100,000 $ 100,000 YEAR 20X2 Assets Liabilities and Equity Cash $ 23,000 Accounts payable $ 10,000 Accruals 13,000 Accounts receivable 19,000 Current bank note 8,000 Inventory 17,000 Long-term debt 29,000 Plant and equipment 41,000 Common stock 15,000 Retained earnings 25,000 $ 100,000 $ 100,000 Sales in 20X1 were $175,000. Sales in 20X2 were $175,000. Based solely on the current ratio and the quick ratio, has the firm’s liquidity position deteriorated or improved? Round your answers to two…
- eBook Question Content Area Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: CurrentYear PreviousYear Accounts payable $440,000 $164,000 Current maturities of serial bonds payable 320,000 320,000 Serial bonds payable, 10% 1,380,000 1,700,000 Common stock, $1 par value 90,000 110,000 Paid-in capital in excess of par 940,000 950,000 Retained earnings 3,250,000 2,580,000 The income before income tax expense was $663,000 and $580,100 for the current and previous years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Previous year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Previous year…eBook Question Content Area Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $614,000 $164,000 Current maturities of serial bonds payable 380,000 380,000 Serial bonds payable, 10% 1,540,000 1,920,000 Common stock, $1 par value 70,000 90,000 Paid-in capital in excess of par 800,000 800,000 Retained earnings 2,750,000 2,190,000 The income before income tax expense was $633,600 and $554,400 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Prior year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Prior year fill in the…#21 The ABC Company began operations in January 2018 and reported the following results for each of its three years of operations: 2018 – 799,500 net loss 2019 – 123,000 net loss 2020 – 2,460,000 net income At December 31, 2020, ABC Company’s capital accounts were as follows: 8% cumulative preference share capital, 50,000 shares issued and outstanding – P 7,687,500 Ordinary share capital, 750,000 shares issued and outstanding – P 31,518,750 ABC Company has never paid a cash or bonus issue and there has been no change in its capital accounts since it began operations in 2018. What is the book value per ordinary share at December 31, 2020? Group of answer choices 41.62 42.85 41.70 42.03
- Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.Question 12 General Electric’s balance sheet had the following as of 12/31/2019: Total Common Equity ($3,000,000), Common Shares Outstanding (300,000). During 2020, the firm had $590,000 in net income, and it paid out $150,000 in dividends. What was the book value per share on 12/31/2020, assuming not common stock was issued or retired during 2020? Round to the nearest second decimal and show your work.27. Retained Earnings Titanic Corporation’s net income for the year ended December 31, 2022, is $380,000. On June 30, 2022, a $0.75 per-share cash dividend was declared for all common shareholders. Outstanding at the time were 38,000 common shares. The market price of Titanic’s shares at year-end (12/31/22) is $18 per share. Titanic had a $1,100,000 credit balance in retained earnings at December 31, 2021. Assume that on July 31, 2022, Titanic discovered that 2021 depreciation was overstated by $75,000. Required: Prepare Titanic's retained earnings statement for the year ended December 31, 2022, assuming the 2021 tax rate was 30%.
- Chapter 15 Quiz Hide or show questions Question Content Area A partial listing of accounts and ending balances for Carver, Inc., on December 31, 2020, is shown below: Investments in long-term notes receivable $40,000 Bonds payable 300,000 Temporary investment in equity securities available for sale 120,000 Premium on bonds payable 26,000 Common stock 180,000 Subscriptions receivable: common stock 120,000 Additional paid-in capital from preferred stock conversion 24,000 Retained earnings 650,000 Preferred stock 300,000 Long-term investment in equity securities available for sale 150,000 Additional paid-in capital on common stock 910,000 Common stock subscribed 20,000 Goodwill 46,000 Donated capital 35,000 Preferred stock subscribed 50,000 Additional paid-in capital on preferred stock 45,000 Following is additional information relative to the above accounts: The preferred stock is 8% cumulative with par value of…PROBLEM 8:Tomas Co. has the following balance sheet as of December 31, 2021.Current assets 180,000.00Fixed assets 120,000.00Total assets 300,000.00Accounts payable 40,000.00Accrued liabilities 20,000.00Notes payable 50,000.00Other Long-term debt 75,000.00Total Equity 115,000.00Total liabilities and equity 300,000.00 In 2021, Tomas Co. reported sales of P1,500,0000, net income of P30,000, and dividends of P18,000. The company expected its sales to increase by 20% by next year and its retention ratio will remain at 40%. Assume that Tomas Co. is operating at full capacity and it uses the AFN approach in determining the amount of external financing needed.How much is the sales for 2022? Using Problem 8, how much is the increase in retained earnings for the purpose of computing the AFN? Using Problem 8, how much external funds needed for the year 2022?25 An entity provided the following data for the current year: Net Income – P 4,000,000 Ordinary shares – 250,000 Share Option (exercise price of P 60), issued on February 1 (Average Market Price, P 75)– 48,000 5% Preference share capital, P100 par, convertible and cumulative, issued on March 1, can be converted into 18,000 ordinary shares (dividends paid on June) – P 3,600,000 12% Bonds Payable, issued on May 1, can be converted into 30,000 ordinary shares– P 3,000,000 Income Tax Rate – 30% How much is the basic earnings per share? (round-off to nearest centavo)