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2 years ago

When creditors use the _________, they apply the finance charge only to the amount owed after you've paid your bill each month.

Business

1 answer:

zhuklara [117]2 years ago

5 0

Answer:

Adjusted balance method.

Explanation:

Financial charges that are been summed up at the end of the last cycle of billing or their previous balances are seen to be calculated with this method. And also, it is used in calculation of the interest which are seen to be toppled or owed by people or customers that are seen to using the savings accounts.

A lot of financial institutes rely on the service or this method in the summation of their account holders month end balances.

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Alexander, Inc., declared and distributed a 10 percent stock dividend on its 700,000 shares of outstanding $5 par value common s

Anna35 [415]

Answer:

Common Stock: 3,500,000
Additional paid-in capital-Common Stock: 2,100,000
Retained earnings: 995,000

Total stockholders' equity: 6,595,000

Explanation:

Common Stock: Values at the common stocks par value. (3,500,000 = 700,000 * 5)

Additional paid-in capital-Common Stock: Difference between the paid price by stockholders and par value. The negations made after the issue of the stocks are not taken into account because they don´t include the company. (2,100,000 = 700,000 * 3)

Retained earnings: As the dividend are declared after the end of the accountable year they are not taken into account. So the retained earnings final balance include the beginning balance plus the net income of the accountable period. (995,000)

Total stockholders' equity: Addition of the previous items.

6 0

2 years ago

Your customer purchases FYZ 4% convertible preferred stock at $60 per share. The conversion price is $10. With the common stock

KIM [24]

Answer:

Explanation:

Calculation for how much the common shares of FYZ are trading

First step is to find the conversion ratio

Using this formula

Conversion ratio =Market price of the convertible+Conversion price)/Conversion price

Let plug in the formula

Conversion ratio=$70/$10

Conversion ratio=7

Second step is to calculate for the Parity price of the common stock

Using this formula

Parity price=Market price of the convertible / conversion ratio

Let plug in the formula

Parity price=$70/7

Parity price=$10

Last step is to calculate how much the common shares of FYZ are trading

Using this formula

Common shares =Parity price-Common stock trading point

Let plug in the formula

Common shares =$10-1

Common shares=$9

Therefore the common shares of FYZ are trading at $9

6 0

2 years ago

In its proposed 2022 income statement, Hrabik Corporation reports income before income taxes $500,000, income taxes $100,000 (no

DaniilM [7]

Answer:

Explanation:

Statement of Comprehensive Income :

$ $

Income from continuing operation before tax 500,000

Income Tax (100,000)

After Tax Income from Continuing operation 400,000

Loss from discontinuing operation (60,000)

Gain on disposal of discontinuing operation 40,000

loss on discontinuing operation b/4 tax (20,000)

income tax benefit @ 20% 4,000

After tax gain on discontinuing operation (16,000)

Net Income 384,000

Unrealized loss on available-for -sale securities (150,000)

Other Comprehensive Income 234,000

8 0

2 years ago

Glenville Company has the following information for April: Cost of direct materials used in production $280,000 Direct labor 324

ankoles [38]

Answer:

Part 1 . Determine the cost of goods manufactured

Direct materials $280,000

Direct labor $324,000

Factory overhead $188,900

Add Opening Stock of Work In Progress Inventory $72,300

Less Closing Stock of Work In Progress Inventory $76,800

Cost of Goods Manufactured $788,700

Therefore cost of goods manufactured is $788,700

Part 2 . Statement of Cost of Goods Manufactured

Opening Stock of Finished Goods Inventory 39,600

Add Cost of Goods Manufactured 788,700

Less Closing Stock of Finished Goods (41,200)

Cost of Goods Manufactured 787100

Explanation:

Part 1 . Determine the cost of goods manufactured

This is a calculation of all Overheads Incurred in the Manufacturing process

Part 2 . Statement of Cost of Goods Manufactured

It is Important to note that Glenville Company is in the Manufacturing Business and their Cost of Sales cost from cost of Finished Goods.This would be the statement available for external use

5 0

2 years ago

26 Your company expects to receive 5,000,000 Japanese yen 60 days from now. You decide to hedge your position by selling Japanes

Nostrana [21]

Answer:

$47,500

Explanation:

The computation of the dollars amount received for the 5,000,000 yen is shown below:

= Expected yen receivable × forward rate

= 5,000,000 × $.0095

= $47,500

To find out the dollar amount we multiply the Expected yen receivable with the forward rate so that accurate value can come. And, we ignored the current spot rate and the turns out spot rate

4 0

2 years ago