At the beginning of the current fiscal year, the balance sheet
of Cummings Co. showed liabilities of $439,000. During the year,
liabilities decreased by $74,000, assets increased by $151,000, and
paid-in capital increased by $15,000 to $381,000. Dividends
declared and paid during the year were $123,000. At the end of the
year, stockholders' equity totaled $751,000.
Required:
Calculate net income or loss for the year. (Amounts to be
deducted should be indicated with a minus sign.)
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In: Accounting
1.) Ajax corporation has a project with a 10 year life and a $200,000 cost. The project is depreciated straight life over the life of the project. Other fixed costs amount to $400,000 and variable costs per unit are $30. If the company intends on selling 50,000 units and has a 10% return requirement, calculate the company’s financial break-even price
2.) Scorpio Inc. is a seafood company specializing in crayfish. Each pound of crayfish cost $25 to produce and can be sold for $100. The company has fixed overhead costs of $300,000 per year, and can claim depreciation of $50,000 per year. What is the cash break-even quantity of sales for Scorpio Inc.
In: Finance
3. The scores for all students taking the ACT test in a recent year are normally distributed with a mean of 21.0 and a standard deviation of 4.7.
In: Statistics and Probability
Assume ABC Corp. pays the dividend of $4.55 this year. For the next 30 years, the firm's dividend will grow by 5.4%, then will grow by 4.7% each year afterwards. The required rate of return for the firm's industry is 10.8%. What is the present value of the firm's stock under the Dividend Discount Model?
In: Finance
Martin lives in South Carolina, and it has been a rough year for him. In May, Martin’s house caught on fire and he suffered a personal casualty loss of $4,500. Insurance, however, paid Martin $5,000 for the damages. Then, in September, Hurricane Florence destroyed his home, inflicting a $23,000 loss. If Martin’s AGI was $65,000 in 2018, how much can Martin deduct as casualty losses on Schedule A?
In: Finance
A company must make payments of $10 annually in the form of a 10- year annuity- immediate. It plans to buy two zero coupon bonds to fund these payments. The first bond matures in 2 years and the second bond matures in 9 years, and both are purchased to yield 10% effective. What face amount of each bond should the company buy in order to be immunized from small changes in the interest rate (redington immunization)?
In: Finance
Which of the following could be expressed as seconds of arc per year?
A. Radial velocity
B. Proper motion
C. Tangential velocity
D. Space velocity
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The proper motion of a star is
A. its tangential speed in km/s (measured in a direction perpendicular to the line of sight from the Earth to the star).
B. its radial speed in km/s (measured along the line of sight from the Earth to the star).
C. the diameter of the circle through which the star appears to move in the sky each year due to the motion of the Earth.
D. the angle through which the star moves across our sky per year.
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How can we tell that there is a binary system of stars even if we cant resolve both stars in a telescope?
A. The spectral class will vary with time in such a way to show two stars.
B. The luminosity class of the star will vary between giant and dwarf classifications.
C. Two sets of spectral lines will Doppler-shift red and blue opposite each other as time goes on.
D. The larger star will be stationary, but the smaller star will show a proper motion which will appear as a continuous Doppler shift.
E. The pair of stars’ luminosities will vary with time as they interact, and exchange matter.
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The spectra of spectroscopic binaries changes regularly due to
A. changes in the temperatures of the stars as they revolve.
B. changes in the size of the stars as they revolve.
C. changes in the absolute magnitudes of the stars as they revolve.
D. the Doppler effect.
E. [A, B, and C.]
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Of the following, which is the more fundamental quantity?
A. Absolute magnitude
B. Apparent magnitude
C. [They are equally fundamental.]
D. [No general statement can be made.]
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A star with an apparent magnitude of 3 emits ______ times as much energy as a star with an apparent magnitude of 5.
A. 0.6
B. 2
C. 2.5
D. 6.25
E. [The answer cannot be determined from the information given.]
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A star with an absolute magnitude of 3 emits_________ times as much energy as a star with an absolute magnitude of 5.
A. 0.6
B. 2
C. 2.5
D. 6.25
E. [The answer cannot be determined from the information given.]
In: Physics
Calculate the NPV of a 20-year project with a cost of $300,000 and annual cash flows of $25,000 in years 1-10 and $50,000 in years 11-20. The company's required rate of return is 10%
In: Finance
ABC company is planning on increasing its annual dividend by 8 percent a year for the next 3 years and then decreasing the growth rate to 3 percent per year forever. The company just paid its annual dividend in the amount of $0.20 per share. What is the current value of one share of this stock if the required rate of return is 10 percent?
In: Finance
4. Suppose that an insurance company charges $1150
per year to cover a car in a nearby city. Suppose that there are
three different scenarios that the company has to consider:
a. There is a .0005 probability that the policy holder
will cause a fatality and the company will pay $1,000,000.
b. There is a .01 probability that the policy holder
will injure someone and the company will pay $20,000.
c. There is a .1 probability that the policy holder
will be in an accident and the company will pay $2,000.
What is the expected value for the policy and is it wise for the
company to continue to offer it?
In: Statistics and Probability