Anita Maria Co. issued common shares for $15 per share on Ma…
Anita Maria Co. issued common shares for $15 per share on May 1, 2024 and the market price is $25 per share on December 31, 2024. The earnings per share for 2024 is $2 and the dividends paid per share was $1 in 2024. The formula for Price-Earnings ratio is Market value per share Earnings Per Share What is the price earnings ratio on December 31, 2024?
Read DetailsMOO Creamery Co. makes a blue cream cheese called Moo Deng….
MOO Creamery Co. makes a blue cream cheese called Moo Deng. On June 30, 2023, the company bought a fancy cream cheese making machine costing $500,000. Details on the machine follow: • The estimated useful life is 5 years.• The estimated residual value is $100,000.• 200,000 pounds of cream cheese is the total estimated production over the machine’s life.• The machine produced 20,000 pounds of cream cheese in 2023 and 50,000 pounds in 2024. MOO Creamery Co. has a December 31st year-end. Required:Using the Units of Production Method, calculate Depreciation Expense for 2024 by selecting ALL that apply.
Read DetailsThe following information is available for Nature’s Best Cor…
The following information is available for Nature’s Best Corporation about the age of its receivables at December 31, its year end: Number of days outstanding Accounts Receivable($) Estimated percentage uncollectible 0-30 $400,000 3% 31-60 $240,000 5% 61-90 $200,000 10% Over 90 $80,000 15% Instructions (a) Using the above aging schedule, determine the total estimated uncollectible accounts. Enter the total rounded to the nearest whole dollar and do not include dollar sign or commas. Example: Enter $5,000.50 as 5001 (b) Assuming that Allowance for Expected Credit Losses has an unadjusted credit balance of $16,000, prepare the journal entry to record credit losses at December 31. Type out your journal entry and specify Dr. and Cr. Example: Dr. Cash 1000 Cr. Accounts Payable 1000 (c) Assuming that Allowance for Expected Credit Losses has an unadjusted debit balance of $8,400, prepare the journal entry to record credit losses at December 31. Type out your journal entry and specify Dr. and Cr. Example: Dr. Cash 1000 Cr. Accounts Payable 1000
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