Reference no: EM13747744
Healthy Living Co. is an HMO for businesses in the Seattle area. The following account balances appear on the balance sheet of Healthy Living Co.: Common stock (400,000 shares authorized; 300,000 shares issued), $18 par, $5,400,000; Paid-in capital in excess of par—common stock, $1,500,000; and Retained earnings, $78,000,000. The board of directors declared a 5% stockdividend when the market price of the stock was $40 a share. Healthy Living Co. reported no income or loss for the current year.
For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown.
Net operating income for the company
: The Gasson Company sells three products, Product A, Product B and Product C, and had sales of $1,000,000 during the month of June. The company's overall contribution margin ratio was 37% and fixed expenses totaled $350,000. The net operating income f..
|
Production budget showing the number ceramic pots
: A company expects to begin the coming year with 6,000 ceramic pots in finished goods inventory. It expects to sell 85,000 ceramic pots and end the year with 8,000 pots in the finished goods inventory. Four pounds of clay go into each ceramic pot. Pre..
|
Contribution margin for the current year and projected year
: Lorge Corporation has collected the following information after its first year of sales. Sales were $ 1,641,600 on 102,600 units; selling expenses $ 246,240 (40% variable and 60% fixed); direct materials $ 524,286 ; direct labor $ 292,410 ; administr..
|
Unused office supplies remain on hand at the end of month
: On March 1, Phonic Corporation had office supplies on hand of $1,000. During the month, Phonic purchased additional supplies costing $500. Approximately $200 of unused office supplies remain on hand at the end of the month. Prepare the necessary adju..
|
Account balances appear on the balance sheet
: Healthy Living Co. is an HMO for businesses in the Seattle area. The following account balances appear on the balance sheet of Healthy Living Co.: Common stock (400,000 shares authorized; 300,000 shares issued), $18 par, $5,400,000; Paid-in capital i..
|
Describe at least three internal control weaknesses
: PGA Golf Company makes custom golf clubs. The manufacturing supervisor interviews people who have specialized manufacturing skills, and he informs payroll when an employee is hired. The employees use a time clock to record the hours they work. Descri..
|
Payments are semiannually with the first payment
: A $10,000 bond, due in 20 years has a 5% interest rate. Payments are semiannually with the first payment 6 months from now. What should the price of the bond be to have a yield of nominal 7% compounded semiannually?
|
Liability related to the coupons on the balance sheet
: On December 1, 2003, Discount Dudley’s (DD) placed coupons in the local newspaper for $5 off a $50 purchase. The coupons have an expiration date of March 31, 2004. The number of coupons circulated was 1,500,000 and DD anticipates that 5% of these cou..
|
Compute the margin of safety in dollars and as a ratio
: In the month of June, Jose Hebertâs Beauty Salon gave 3,560 haircuts, shampoos, and permanents at an average price of $30. During the month, fixed costs were $16,900 and variable costs were 75% of sales. Determine the contribution margin in dollars, ..
|