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When Microsoft went public, the company sold 3 million new shares. In addition, existing shareholders sold .5 million shares and kept 22.4 million shares. The new shares were offered to the public at $20, and the underwriters received a spread of $1.81 a share. At the end of the first day's trading the market price was $34 a share. a. How much money did the company receive before paying its portion of the direct costs? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Amount received $__ million b. How much did the existing shareholders receive from the sale before paying their portion of the direct costs? Amount received $ _million c. If the issue had been sold to the underwriters for $29 a share, how many shares would the company have needed to sell to raise the same amount of cash? Number of shares_ million d. How much better off would the existing shareholders have been? Gain to shareholders $ _million?
Compute the plantwide overhead rate that would be used in the companys conventional cost system. Using the plantwide rate, compute the unit product cost for each product.
Boeing Company is the largest manufacture of commercial aircraft in the United States and is a major employer in Seattle, Washington. Explain why each of the following individuals or organizations would be interested in financial information about..
Uncorrected Misstatement and Performance Materiality. Rivers, CPA is auditing the financial statements of Charger Company, a client for the past five years. During past audits of charger, River has only identified some immaterial misstatements (mo..
How may financial managers budget for unforeseen changes and improveme. How may financial managers budget for unforeseen changes and improvements in information technology that require large capital outlays?
Barkley Company uses a periodic inventory system and has the following account balances: Beginning Inventory $50,000, Ending Inventory $70,000, Freight-in $12,000, Purchases $450,000, Purchase Returns and Allowances $8,000, and Purchase Discounts ..
lakeshore gelato distributors lgd began a special promotion in july 2012 in an attempt to increase sales. a coupon was
Determine the contribution margin in dollars, per unit, and as a ratio and using the contribution margin technique, compute the break-even point in dollars and in units.
After the course, Danny spent the last day sightseeing. During the trip, Danny also paid $140 a day for meals, and $80 a day for a rental car. What amount of these travel-related expenditures may Danny deduct as business expenses.
Impairments are: a) recognized as a realized loss if the impairment is judged to be temporary. b) based on fair value for available-for-sale investments and on negotiated values for held-to-maturity investments.
Prior to maturity, when the carrying value of the bonds was $105,000 scott retired the bonds at 102. Prepare the journal entries for redemption of the bond.
Hope mistakenly accounted for the investment as available for sale instead of using the equity method. What effect would this error have on the investment account and net income, respectively, for 2011?
Work in Process consisted of two jobs, no. 101 ($20,400) and no. 103 ($14,800). During May, direct materials requisitioned from the storeroom amounted to $96,500, and direct labor incurred totaled $114,500.
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