Explain Reliance ltd succinctly.I bought shares of Reliance on 08/07/2015 for Rs900/ and sold it on 08/07/2020 for Rs 1812/-.Dividend received from 2015-16 was 6% , (20016-17)- 7%,(2017-18)-8%, (2018-19)-8%, (2019-2020)-6.5%.The face value of shares of Reliance is Rs100/-.Dividends received are invested every year in Bank Saving account at 4%.Find out the Discounted Cash flows over the time 2015-16 to 2019-20 and also for 2020 when shares are sold.Also determine IRR and average Return on investment.
In: Accounting
The following information is available from ABC co.'s inventory records for March 2020.
| # of units | unit costs | unit price | |
| March 1, 2020 | 2,000 | $10 | |
| Purchases on 3/5 | 3,000 | 11 | |
| Sales on 3/10 | 4,000 | $20 | |
| Purchase on 3/15 | 6,000 | 12 | |
| Sales on 3/25 | 5,000 | $20 |
Instructions: Compute the costs of goods sold for March 2020 using the following methods.
a) FIFO with perpetual inventory.
b) Weighted average. (Periodic system).
c) Moving average. (Perpetual system).
d) LIFO with periodic inventory.
e) LIFO with perpetual inventory.
In: Accounting
Suppose IQ scores were obtained from randomly selected
twinstwins.
For
2020
such pairs of people, the linear correlation coefficient is
0.8670.867
and the equation of the regression line is
ModifyingAbove y with caret equals 5.44 plus 0.93 xy=5.44+0.93x,
where x represents the IQ score of the
twin born secondtwin born second.
Also, the
2020
x values have a mean of
96.2696.26
and the
2020
y values have a mean of
94.9594.95.
What is the best predicted IQ of the
twin born firsttwin born first,
given that the
twin born secondtwin born second
has an IQ of
9494?
Use a significance level of 0.05
In: Statistics and Probability
Sunland Co. began operations on January 2, 2020. It employs 17
people who work 8-hour days. Each employee earns 10 paid vacation
days annually. Vacation days may be taken after January 10 of the
year following the year in which they are earned. The average
hourly wage rate was $20 in 2020 and $21.75 in 2021. The average
vacation days used by each employee in 2021 was 9. Sunland Co.
accrues the cost of compensated absences at rates of pay in effect
when earned.
Prepare journal entries to record the transactions related to paid
vacation days during 2020 and 2021
In: Accounting
On January 1, 2020, Castaway Corp. issued 5,000 shares of preferred stock ($15 par value) at $45 per share. Each share of preferred stock is redeemable at the option of the stockholder at $45 per share. On September 1, 2020, preferred shareholders holding 1,000 shares of preferred stock redeemed their stock.
The entry recorded by Castaway Corp. on January 1, 2020, would not include the following:
| A. |
Credit to preferred stock at par value. |
|
| B. |
Credit to additional paid-in capital for the excess of the issuance price over the par value. |
|
| C. |
Debit to cash for the issuance price. |
|
| D. |
Credit to a liability for the redemption feature. |
In: Accounting
Morris Company has the following capital structure: Common stock, $2 par, 100,000 shares issued and outstanding
On October 1, 2020, the company declared a 5% common stock dividend when the market price of the common stock was $10 per share. The stock dividend will be distributed on October 15, 2020, to stockholders on record on October 10, 2020.
Upon declaration of the stock dividend, Norris Company would record:
| A. |
A debit to Retained Earnings for $200,000 |
|
| B. |
A credit to Dividends Payable for $100,000 |
|
| C. |
A credit to Paid-in Capital in Excess of Par—Common Stock for $10,000 |
|
| D. |
A debit to Retained Earnings for $50,000 |
In: Accounting
Carla Vista Company manufactures one product. On December 31, 2019, Carla Vista adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $960,000. Inventory data are as follows:
|
Year |
Inventory at |
Price index |
||||
|
2020 |
$1,285,200 |
1.05 |
||||
|
2021 |
1,840,000 |
1.15 |
||||
|
2022 |
1,930,000 |
1.25 |
||||
Compute the inventory at December 31, 2020, 2021, and
2022, using the dollar-value LIFO method for each year.
|
Inventory at December 31, 2020 |
|
Inventory at December 31, 2021 |
|
Inventory at December 31, 2022 |
In: Accounting
On July 1, 2018, Kirby, Inc. issued $3,000,000, 6%, 5-year bonds at a price of 98. Interest is payable semiannually on January 1 and July 1. The bonds are callable at 102. Kirby uses straight-line amortization. On January 1, 2020, Kirby paid interest and recorded amortization on all of the bonds, and purchased the entire issue at the call price. Prepare journal entries to record: The issue of the bonds on July 1, 2018. The payment of interest and amortization of any discount or premium on January 1, 2019, July 1, 2019, and January 1, 2020 (ignore accrual entries). The repurchase of the bonds on January 1, 2020.
In: Accounting
Instructions:
Prepare the entry to record the issuance of the bonds and warrant
2.
The Cinci Company issues $100,000, 10% bonds at 103 on April 1, 2020. The bonds are dated January 1, 2020 and mature six years from that date. Straight-line amortization is used. Interest is paid annually each December 31. Compute the bond carrying value as of December 31, 2023.
Answer
$_______________
In: Accounting
On April 1, 2019 Garr Co. issued $4,800,000 of 5%, 5-year convertible bonds at a price of 102. The bonds pay interest on April 1 and October 1. Bond premium is amortized each interest payment period on a straight-line basis.
On April 1, 2020, all of these bonds were converted into 20,000 shares of $5 par common stock.
a) Prepare the entry to record the original issuance of the convertible bonds.
b) Prepare the entries to record the interest payment and premium amortization at October 1, 2019 and April 1, 2020.
c) Prepare the entry to record the conversion on April 1, 2020.
In: Accounting