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Question
| 178. A company reports the following stockholders' equity: Paid-in Capital: Common stock, $10 par, 500,000 shares authorized .. |
$3,000,000 |
| Paid-in capital in excess of par, Common stock . | 1,300,000 |
| Total paid-in capital | $4,300,000 |
| Retained earnings | 1,400,000 |
| Total stockholders' equity | $5,700,000 |
Compute the (1) number of common shares outstanding and (2) book value per common share.
Answer
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Related questions
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Although a fixed budget is only useful over the relevant range of operations, a flexible budget is useful over all possible production levels.
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A fixed budget performance report never provides useful information for evaluating variances.
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A variable or flexible budget is so named because it only focuses on variable costs.
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Use the following information to prepare a budgeted income statement for Arbor Company for the month of June.
a. Beginning cash balance on June 1 is $52,000.
b. Cash receipts from sales: 40% is collected in the month of sale, 50% in the next month, and 10% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are: April (actual), $1,450,000, May (actual), $1,600,000, and June (budgeted), $1,700,000.
c. Payments on merchandise purchases: 80% in the month of purchase and 20% in the month following purchase. Purchases amounts are May (actual), $830,000; and June (budgeted), $867,000.
d. Budgeted cash disbursements for salaries in June: $260,000. Salaries payable on May 31 are $60,000 and are expected to be $50,000 on June 30.
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g. Accrued income taxes due in June: $48,000.
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Q:
Use the following information to prepare the June cash budget for Arbor Company. It should show expected cash receipts and cash disbursement for the month and the cash balance expected on June 30.
a. Beginning cash balance on June 1 is $52,000.
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g. Accrued income taxes due in June: $48,000.
h. Bank loan interest due in June: $8,000.
i. Loan payment of $50,000 if the preliminary cash balance is greater than $100,000.
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What are the four steps in the effective management of variance analysis?
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Cabot Company collected the following data regarding production of one of its products. Compute the direct materials cost variance. Direct materials standard (6 lbs. @ $2/lb.)
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Q:
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Q:
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45,000 Actual rate per hour ..
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$14 Standard hours for units produced ...
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Q:
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B. $120 favorable.
C. $400 favorable.
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Q:
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B. Budgeting purposes only.
C. Control purposes only.
D. Planning and control purposes.
E. Planning and budgeting purposes.