Nacho Mama's Cantina has several investments that pay annual dividends.Mama reported dividend revenue of $38,800 on her income statement dated December 31, 20x7.If the balance in Mama's dividends receivable account on January 1, 20x7 was $4,400, and her ending balance in that account on December31, 20x7 was $7,000,how much cash did Mama receive from dividends during 20x7?Multiple Choice$38,800.$31,800.$41.400

The cash flow statement is prepared to record the cash flow from various activities during the…

Answered: Nacho Mama's Cantina has several…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86
Miguel invested $1,900 at the beginning of every 6 months in an RRSP for 11 years. For the first 4 years it earned interest at a rate of 4.60% compounded semi-annually and for the next 7 years it earned interest at a rate of 5.10% compounded semi-annually.a. Calculate the accumulated value of her investment at the end of the first 4 years.A. $55,478.69B. $56,281.73C. $16,481.53D. $16,860.61b. Calculate the accumulated value of her investment at the end of 11 years.A. $55,478.69B. $56,281.73C. $49,155.52D. $16,860.61c. Calculate the amount of interest earned from the investment.A. $14,481.73B. $13,678.69C. $8,786.82D. $5,694.91
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Axel bought $13, 539 worth of stock on margin. The initial margin was 75% and the maintenance margin was 22 %. Actual margin decreased to 16%. Axel deposited enough cash to raise the margin to 35 %. Rounded to the nearest penny, how much cash did Axel deposit? Correct Answer: 1, 177.84
Calvin invests $3,200 at an APR of 5.3% compounded monthly. Hobbes invests $3,150 at an APR of 6% compounded quarterly.A. Who has the higher accumulated balance after 2 years? B. Who has the higher accumulated balance after 4 years?
On 2003-06-17 Keiko invests $2,800.00 in an account paying i(¹) = 10.000%. The account uses the compound interest method for computing interest for partial periods. How much money does she receive when she withdraws it on 2008-10-03? a. $2,912.21 b. $2,909.63 c. $4,638.41 d. $2,916.08 e. $2,939.30
Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividene each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. Investment in Stellar Co. 1,070,000 99,000 (a) How much was Pronghorn Co.'s share of Stellar Co's net income for the year? Net income 29,700 Total net income (b) What was Stellar Co's total net income for the year? 428000 Total Dividends. $ 396000 (c) What was Stellar Co's total dividends for the year? 128400
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The Channing Company earmed $64,000 last year. The capital stock of the company consists of $500.000 of as preferred stock and $200.000 of common stock. The drectors declare a dividend of the entire earmings. Compute the total amount that will be paid to the holders of common stock.
Jennifer Pontesso, from Lincoln, Nebraska, wants to better understand her financial situation. Use the following balance sheet and cash flow statement information to determine her net worth and her net surplus for a recent month. Liquid assets: $9,000; home value: $230,000; monthly mortgage payment: $1,350 on $170,000 mortgage; investment assets: $70,000; personal property: $22,000; total assets: $331,000; short-term debt: $3,240 ($270 a month); total debt: $173,240; monthly gross income: $10,000; monthly disposable income: $6,500; monthly expenses: $5,500. Round your answers to the nearest dollar.
Amy opened an RRSP account and deposited $1,000 into it. She then deposited $600 at the end of the 1st year and $625 at the end of the 2nd year, into the account. The RRSP was earning 2.20% compounded quarterly.a. What is the accumulated value of the investments at the end of the 2nd year?rounded to two decimal placesb. What is the accumulated value of the investment at the end of 8 years? small telecommunications company invested its 2010 net income of $561,400 in a savings account for 4 years and 4 months. Money was earning interest at a rate of 7.25% compounded monthly.a. Calculate the amount it would have in this account at the end of the period.rounded to two decimal placesb. Calculate the interest earned.rounded to two decimal places

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