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b) Uwezo Ltd intends to issue additional funds as follows: – 100,000 ordinary shares of shs 20 each
50,000 10% preference shares of shs 10 each
40,000 10% Debentures; @ shs 100 The market values are;
Ordinary shares shs 30, floatation fees of shs 2 per share Preference shares sh. 12, floatation fees of sh. 1 per share Debenture shs 90, and floatation fee shs 5 per debenture
Required:
Calculate weighted average cost of capital of Uwezo Ltd.
1.
Heather deposits $1,000 of her own money into Sew Cool’s checking account.
2.
Sew Cool purchases equipment for $1,000. The company signs a note payable for this purchase.
3.
Sew Cool purchases $1,000 in sewing supplies and material in cash.
4.
Sew Cool gives Heather’s parents a check for $80 for rent and utilities.
5.
Heather sews and sells twenty dresses during the month. Each dress has a price of $60. Cash is received for twelve of the dresses, with customers owing for the remaining eight.
6.
The dresses sold above cost $35 each to make.
7.
Sew Cool purchases advertising for $50 cash.
8.
Sew Cool pays Heather a cash dividend of $10 cash.
9.
Sew Cool’s taxes, paid in cash, amount to $87.
1.
Prepare journal entries for the above transactions.
2.
Prepare T-accounts for each account used.
3.
Prepare a trial balance for June
2.
For each of the following transactions, determine if Raymond Corporation has earned revenue during the month of May and, if so, how much it has earned.
1.
Customers paid Raymond $1,500 for work Raymond will perform in June.
2.
Customers purchased $6,000 of inventory for which they have not yet paid.
3.
Raymond performed work for customers and was paid $3,400 in cash.
4.
Customers paid Raymond $2,300 for inventory purchased in April.
3.
Record the journal entries for number 2 above.
1.
Record the following journal entries for Taylor Company for the month of March:
1.
Borrowed $4,500 from Local Bank and Trust
2.
Investors contributed $10,000 in cash for shares of stock
4.6 End-of-Chapter Exercises 84
3.
Bought inventory costing $2,000 on credit
4.
Sold inventory that originally cost $400 for $600 on credit
5.
Purchased a new piece of equipment for $500 cash
6.
Collected $600 in cash from sale of inventory in (d) above
7.
Paid for inventory purchased in (c) above
8.
Paid $1,200 in cash for an insurance policy that covers the next year
9.
Employees earned $3,000 during the month but have not yet been paid
10.
Paid employees $2,900 for wages earned and recorded during February
2.
Ramond Company has hired you to prepare financial statements for the year ending 12/31. On your first day of work, your assistant comes to you with several items that could be classified as expenses or could be classified as assets. Based on your knowledge of accounting so far, determine whether the following items should be recorded as an expense or an asset. 1. On 12/31, Ramond paid $14,000 to rent office space for the next twelve months. 2. On 10/1, Ramond paid $40,000 for insurance that covered the company’s property for the last quarter of the year. 3. On 6/1, Ramond purchased $27,000 in supplies, all of which were used by 12/31. 4. On 12/31, Ramond purchased $5,000 worth of supplies for the coming month.
Magic Carpets Inc. sells a full line of area rugs, from top quality to bargain basement. Economic conditions have hit the textile industry, and Magic Carpets accountant is concerned that its rug inventory may not worth the amount Magic paid for it. Information about three lines of rugs is found below:
a. Determine market value for each type of rug.
b. Determine lower-of-cost-or-market for each type of rug.
c. Determine if Magic Carpets has suffered a loss of value on its inventory, and if so, what the amount of loss is.
Shero Corp has a $3,00,000 note due two months after the year 18 balance sheet date. On January 7, Year 19, before the financial statements for Year 18 are issued, Shero Corp issues $3,200,000 of long-term bonds. Proceeds from the bonds were to be used to repay the $3,000,000 note when it became due. How should Shero Corp classify the note in its Year 18 balance sheet?
· $3,000,000 as a non-current liability
Can you show me a timeline with all the dates shown in this problem and what they represent? Thank you.
The answer is highlighted. I don't need the answer. Just a timeline. Thank you.
The following information was extracted from the financial records of Ace Wholesalers for the month of March 2021: Details R Totals at 1 March 2021: List of debtors - debit balances 63 820 List of debtors - credit balances 1 450 creditors - credit balances 48 900 Transactions for the month ended 31 March 2021: Goods sold to customers for cash 463 700 Goods sold to customers on credit 229 640 Cash received from debtors 218 270 Goods bought from suppliers for cash 172 420 Goods bought from suppliers on credit 152 300 Cash paid to creditors 128 500 Credit notes granted to debtors for goods returned by them 24 770 Credit notes received from suppliers for goods returned to them 27 040 Interest charged on overdue debtors' accounts 2 630 31 March 2021: Total of credit balances in the Debtors' subsidiary ledger 890 Required: Prepare the following for Ace Wholesalers for the month ended 31 March 2021: Debtors' control account Creditors' control account
Sales
Purchases
April
$72000
$42000
May
66000
48000
June
60000
36000
July
78000
54000
§ Receipts from customers are normally 70 per cent in the month of sale, 20 per cent in the month following the sale, and 9 per cent on the second month following the sale. The balance is expected to be uncollectible.
§ Albury takes full advantage of the 2 per cent discount allowed on purchases paid for by the 10th day of the following month.
§ Purchases for August are budgeted at $60 000, and sales for August are forecast at $66 000.
§ Cash payments for expenses (other than purchases) are expected to be $14 400 for the month of August.
§ Albury cash balance on 1 August was $22 000.
Required
Prepare a cash budget for Albury for August that includes:
1. Expected cash receipts during August.
2. Expected cash payments during August.
3. Expected cash balance on 31 August.
1a) Discuss the importance coefficient of correlation in explaining the relationship between two variables.
b)The chance of any photocopier being defective is 20%. If 15 photocopiers are selected at random, what is the probability that
I)Fewer than 4 will be defective?
ii)None will be defective?
iii) Exactly 6 will be defective?
iv) Between 7 and 9 will be defective?
v)At least 10 will not be defective?
C) Determine the probability of receiving a score greater than 850 on GMAT test that has a mean of 496 and the standard deviation of 116
