Franklin Corporation reported net income of $60,000 in Year 1. The company had 80,000 shares of $14 par value common stock outstanding and a market price of $18 per share. What is Franklin's price-earnings ratio?
Q: Year Year 2 $ 175,000 (60,000) ( 40,000) (15,000) (10,000) $ 310,000 (85,000) (50,000) (20,000) (15,...
A: Jack and Jill are owners of Up A Hill, an S corporation. Jack has = 25% Jill = 75% Jack Jill ...
Q: Following are the transactions of Sustain Company. June 1 T. James, owner, invested $21,000 cash in ...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Use the information below to figure out what the Cost of Goods Sold is for the order placed for FIF...
A: Since the No. of units in the order placed are not given, let's assume the order placed is for 150 u...
Q: Novak Corp. began the year with 8 units of marine floats at a cost of $11 each. During the year, it ...
A: Lets understand the basics. For determining average unit cost, we need to use below formula. Average...
Q: xplain the difference between a Shar
A: Efforts of various people in order to run a successful business and many people associated with the ...
Q: Stephanie's Bridal Shoppe sells wedding dresses. The average selling price of each dress is $1,000, ...
A: Operating income = Sales - Variable cost - fixed cost
Q: What are the effects on creditors, including secured creditors during voluntary administration? Expl...
A: creditors are those person supply goods or services to the company, provide loan to the company, pay...
Q: Figure out what the Cost of Goods Sold is for the order placed for FIFO LIFO and Weighted Average C...
A: Units sold = Total units available for sale - Units in ending inventory = 1,000 - 375 ...
Q: enses argaret and John Murphy (age 66 and 68, respective ncurred the following expenses: nsurance pr...
A: AGI stands for aggregate gross income which is the sum total of income gained by an entity after ded...
Q: Problem 3In connection with your observation of the DalandanManufacturing Company, you reviewed its ...
A: Merchandise costing P300,000 was received on January 6, 2020, and the related purchase invoice wa...
Q: At the beginning of its 2013 financial year, Rueda Corporation purchased equipment for $100,000. The...
A: Revaluation of assets means measurement of assets at its fair value. Revaluation can be upward reval...
Q: Sheridan Publishing identified the following overhead activities, their respective costs, and their ...
A: Overhead costs are all indirect costs related with the production and manufacturing of goods. These ...
Q: ventory on credit. ,300; the cost of th
A: The journal entry is given as,
Q: Levin Furniture buys a living room set with a $5,800 list price and a 50% trade discount. Freight (F...
A: >Discount term is a payment agreement between buyer and the seller. >The buyer and seller ...
Q: Tax accountants are expected to Group of answer choices refuse to go along with clients who claim do...
A: Tax accountants are entrusted with the task of assisting the business entities with regards to taxat...
Q: An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000....
A: Formula used for gain on bond redemption: Gain on bond redemption = Bond face value + Unamortized pr...
Q: les On the other hand, Company B sells Buko Juice in Brgy. Cabacungan area for 5 years. Company B i...
A: The income statement shows the profit for the year and the cash flow statement shows the closing cas...
Q: 1. The loss absorption balances represent the maximum loss that the partners could absorb without re...
A: Answer - 1. True. The loss absorption balances represent the maximum loss that the partners coul...
Q: Gibson Manufacturing is a small textile manufacturer using machine-hours as the single indirect-cost...
A: Formula: Total Manufacturing costs = Direct materials + Direct labor + Manufacturing overhead
Q: Stephanie's Bridal Shoppe sells wedding dresses. The average selling price of each dress is $1,000, ...
A: Operating income can be calculated by deducting the total variable cost and fixed cost from the tota...
Q: MARIE SWIFT Company reported the given information for the month of Octobe Inventories: P29,000 Work...
A: ln costing there are two types of cost direct cost and indirect. These cost are incurred to produce...
Q: Required information [The following information applies to the questions displayed below.) Alden Com...
A: The high-low method is used to differentiate the mixed cost. The mixed cost is the combination of fi...
Q: Indus clothing provides you the following ledger balances. Prepare trial balance as on 31* December,...
A: Trial balance is the summarized statement which contains debit and credit balances of various types ...
Q: What critique can say about this?
A: Liquidity ratios analysis is the usage of numerous ratios to determine the capability of a company t...
Q: What is a base rate entity? And what rates of tax are payable by these entities?
A: ANSWER A base rate entity for an income year is a company if: the company's aggregated turnover fo...
Q: Discuss the following terms as they relate to the presentation of cash flow information: Liquidity ...
A: Financial Ratio: A financial ratio, or bookkeeping proportion, is the general extent of two chosen m...
Q: 1. True or false: For the following items, identify if the statements are true or false. Choose the ...
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: The Harriott manufacturing company uses job order costing system. The company uses machine hours to ...
A: The journal entries are prepared to keep the record of day to day transactions of the business. The...
Q: Requirement 1. Journalize the adjusting entries needed on December 31 for Watson Fishing Charters. A...
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in...
Q: Karen Corp. manufactures products Y and Z from a joint process. The sales value at split-off was P50...
A: Formula: Sales value at split off approach = Total Joint cost x ( Product Y sales value at split off...
Q: 341,000 Fair value of plan assets, Jan. 1 Contributions to the retirement fund during the year Benef...
A: Formula: Return on plan Assets during the year = Fair value of plan Assets , Dec.31 + Benefits paid ...
Q: Market Value Selling Price Market Value (Date of Sale) (Date of Death) P2,700,000 Land P1,500,000 P1...
A: Gross Estate For Calculating the gross estate which was included both Real Properties and Personal P...
Q: Following are the merchandising transactions of Dollar Store. Nov. 1 Dollar Store purchases merchand...
A: The journal entries are prepared to record day to day transactions of the business. Under perpetual ...
Q: 2. Suriname and Paraguay consume two goods, coffee and machines, and labour is the only input into p...
A: The solution for the above mentioned question is given in the following steps for your reference.
Q: PROBLEM The following data pertain to instalment sales of Mickey's store: Down payment, 20%. • Insta...
A: Hi student Since there are multiple subparts, we will answer only first three subparts.
Q: Direct materials: $2,200 Factory overhead: $490 Direct labor: $900 Beginning work in process: none (...
A: Cost of goods manufactured: It is the total cost of production for the company during a particular p...
Q: Determine the AW values for one and two life cycles at 15 % per year.
A: AW is the acronym and stands for the annual worth which means it is the cash flow which is the equal...
Q: An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000....
A: The bonds are issued at premium when market rate is lower than the coupon rate of bonds payable.
Q: How much is the investment income to be reported at the end of the current year? At the beginning of...
A: Investment in other companies for the sake of ownership or to received return in form of interest re...
Q: orris Industries manufactures and sells three products (AA, BB, and CC). The sales price and unit va...
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three sub...
Q: Beginning inventory last year held 2 000 rollers. The normal capacity is 29 000 units. Compute the v...
A: Variance is the difference between estimated or budgeted cost of production and actual cost of produ...
Q: The 0.9 percent Medicare tax applies to: a.Earned income b.Tax exempt income c.Gain on the sale of a...
A: Medicare tax is an additional tax. It has been introduced since 2013 as part of the Affordable Care ...
Q: 21, and
A: The gross profit is calculated as, Sales revenue- Cost of good sold The gross profit rate as, Gross ...
Q: Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1
A: 1. When goods are sold on credit, bills Receivables is debited. 2. When goods are sold for cash , ca...
Q: Massy Company issued $4,000,000 of 10-year, 11% bonds on January 4, 2021. The bonds pay interest sem...
A: Introduction:- A journal entry is the act of recording or keeping track of any financial or non-fina...
Q: Llewelyn Company purchased 3,600 shares of its own $8 par value common stock when the market price o...
A: To create a journal entry, you enter transaction details into ones company's books. Your journal ent...
Q: Prepre Journal Entries May Made cash sales of $7,100; the cost of the inventory was $3,600. 1 Purcha...
A: A journal entry is usually recorded in the general ledger. The logic behind a journal entry is to re...
Q: Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basi...
A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question...
Q: Cash flow statement complements the income statement and the balance sheet summarizing all cash infl...
A: The cash flow statement is the last statement prepared by the company to depict the companies cash p...
Q: 1. Springer Inc. began 2021 with 10,000 shares of common stock outstanding with a par value of $10 p...
A: Shares of common stock Number of shares January 1 10000 shares outstanding 10000 March 1...
Franklin Corporation reported net income of $60,000 in Year 1. The company had 80,000 shares of $14 par value common stock outstanding and a market price of $18 per share. What is Franklin's price-earnings ratio?
-
2.4
-
24
-
14
-
1.3
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
- Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)Ratio Analysis MJO Inc. has the following stockholders equity section of the balance sheet: On the balance sheet date, MJOs stock was selling for S25 per share. Required: Assuming MJOs dividend yield is 1%, what are the dividends per common share? Assuming MJOs dividend yield is 1% and its dividend payout is 20%, what is MJOs net income?Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920. Hollys stockholders equity was $280,000 at the beginning of the year and $320,000 at the end of the year. The company has 20,000 shares of stock outstanding at the end of the year. Required Compute Hollys profit margin. What other information would you need in order to comment on whether this ratio is favorable?
- Albion Inc. provided the following information for its most recent year of operations. The tax rate is 40%. Required: 1. Compute the following: (a) return on sales, (b) return on assets, (c) return on stockholders equity, (d) earnings per share, (e) price-earnings ratio, (f) dividend yield, and (g) dividend payout ratio. 2. CONCEPTUAL CONNECTION If you were considering purchasing stock in Albion, which of the above ratios would be of most interest to you? Explain.The Castle Company recently reported net profits after taxes of $15.8 million. It has 2.5 million shares of common stock outstanding and pays preferred dividends of $1 million a year. The company’s stock currently trades at $60 per share. Compute the stock’s earnings per share (EPS). What is the stock’s P/E ratio? Determine what the stock’s dividend yield would be if it paid $1.75 per share to common stockholders.Five measures of solvency or profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Income before income tax was 3,000,000, and income taxes were 1,200,000 for the current year. Cash dividends paid on common stock during the current year totaled 1,200,000. The common stock was selling for 32 per share at the end of the year. Determine each of the following: (a) times interest earned ratio, (b) earnings per share on common stock, (c) price-earnings ratio, (d) dividends per share of common stock, and (e) dividend yield. Round ratios and percentages to one decimal place, except for per-share amounts.
- A company in the same industry as Company XYZ has a price-to-earnings (P/E) ratio of 15. If Company XYZ's earnings per share (EPS) is $3, what is the estimated value of Company XYZ's stock based on the P/E multiple? a b C d $20 $30 $45 $50One company had a stock price of $45 per share, earnings per share of $0.75, and dividends per share of $0.20. What is the company's price/earnings ratio? а. 1.7 b. 60.0 C. 225.0 d. 81.8A company has earnings per share of $9.00. Its dividend per share is $1.35, its market price per share is $107.10, and its book value per share is $83. Its price-earnings ratio equals: Multiple Choice 11.90. 9.22. 6.67.
- A company reports earnings per share on common stock of $2.00 when the market price of per share of common stock is $50.000. What is the company’s price-earnings ratio? Group of answer choices 25.0 5.0 $2.00 2.5The following information is available for Jase Company: Line Item Description Amount Market price per share of common stock $25.00 Earnings per share on common stock $1.25 Which of the following statements is true? a.The price-earnings ratio is 20 and a share of common stock was selling for 20 times the amount of earnings per share at the end of the year. b.The price-earnings ratio is 10 and a share of common stock was selling for 125 times the amount of earnings per share at the end of the year. c.The market price per share and the earnings per share are not statistically related to each other. d.The price-earnings ratio is 5% and a share of common stock was selling for 5% more than the amount of earnings per share at the end of the yearJain & Jain Ltd reports the following data for the past year: Profit of the year R200 000 Earnings per share R2 per share Total equity R2 000 000 Market to book ratio What is the company’s market price per share?