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qwelly
1 month ago
11

Barney Corporation recognized a $100 million preferred stock balance on 12/31/2019. On January 1, 2020, Barney issued $10 millio

n in preferred dividends. On the same date, Barney raised an additional $20 million via a new issuance of preferred stock. On December 31, 2020, the market value of the original amount of preferred shares rose $5 million. Under US GAAP, the 12/31/2020 year ending preferred stock balance is:
Business
1 answer:
arsen [3.4K]1 month ago
7 0

Answer:

According to US GAAP, the preferred stock balance as of 12/31/2020 is $120 million

Explanation:

The year-end preferred stock calculation is as follows:

= Initial preferred stock balance + new preferred stock issued

= $100 million + $20 million

= $120 million

The preferred dividend and the market value of the original preferred shares are not included in this calculation. Therefore, they are disregarded.

Thus, per US GAAP, the preferred stock balance as of 12/31/2020 is $120 million

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Nikolas Industries has a cash balance of $20,000 on July 1, 20x8. The company is in the process of preparing the cash budget for
harina [3808]

Response:

$54,600

Details:

Cash Budget for Q3

                                                July              Aug                  Sep

Income:

Cash Inflows                    $25,000      $22,000          $20,000

Aggregate Income                $25,000      $22,000          $20,000

Outflows:

Inventory Acquisitions       $5,800       $7,000               $6,200

Operating Costs               $3,500       $4,600               $5,300

Total Outflows                  $9,300       $11,600              $11,500

Net Income                       $15,700      $10,400              $8,500

Carryover Balance               $20,000      $35,700            $46,100

Ending Balance                    $35,700      $46,100            $54,600

Thus,

The expected cash balance at the conclusion of September amounts to $54,600

5 0
1 month ago
Karen made a commission of $3,522.75 on the sale of a property. she split her commission equally with her broker which is 50% to
Mariulka [3825]

Karen dividió su comisión a partes iguales con su corredor, por lo que ella recibe:

Comisión de Karen = $3,522.75 × 0.5 = $1,761.375

El corredor de Karen se llevó el 55 % del total de la comisión, por lo que Karen obtiene solo el 45 % del total. Entonces, la comisión total debe ser:

Comisión total = $1,761.375 ÷ 0.45 = $3,914.17

Con una tasa del 7 %, el precio de venta del inmueble es:

Precio de venta = $3,914.17 ÷ 0.07

<span>Precio de venta = $55,917</span>

6 0
1 month ago
Martha, who is single, has a main home in Houston. In the current year, she rented it for 10 days, receiving $5,000 in rental in
arsen [3447]

Answer:

An increase of $5,000

Explanation:

Since Martha owns a primary residence in Houston and rented it out for 10 days this year, it qualifies as her personal residence because it's rented for fewer than 14 days, resulting in no deductions available for her rental income. Martha's Adjusted gross income will thus see an increase of $5,000.

6 0
1 month ago
Gustav, an entry-level employee, feels his manager holds him to a much higher standard than others in the department. He sees Gl
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D. Diagonal is the right choice.
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22 days ago
The management of warby parker believes that its operations must be grounded in
harina [3808]

Answer:

Warby Parker is a company specializing in eyewear that produces designer glasses at affordable prices. The company's management believes in the importance of grounding its operations in Corporate Social Responsibility.

Explanation:

Warby Parker is an eyewear manufacturer creating designer glasses that remain budget-friendly. The management asserts that its operations should be based on principles of Corporate Social Responsibility.

3 0
1 month ago
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