At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,000,000 On FY 2018 year end, Somerset Corporation had Common Stock account of $1,950,000 of $10 par value common stock and Preferred Stock account of $150,000 of $100 par value There was no treasury stock The preferred stock was noncumulative and had a call price of $101 Use this information to determine the book value per share of Common Stock as of end of the FY 2018 (Round your answer to the nearest penny ) On January 2, 2018, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID obtain significant influence The investment is intended as a long term investment The stock was purchased for $13 per share, and represents a 30 ownership stake Big BadCompany made $500,000 of net income in 2018, and paid dividends to All Good Company of $40,000 on December 15, 2018 Big Bad Company's stock was trading on the open market for $17 per share at the end of the year Use this information to determine the book value of the investment that should be reported at year end by All Good Company Round to nearest whole dollar 3 Bravo Company manufactures quality gentlemen's clothing The following selected financial information for the fiscal year 2016 is provided Item Amount Sales $100,000 Cost of Goods Manufactured 75,000 Direct Material Purchased 40,000 Factory Overhead 10,000 Work in Process January 1 30,000 Work in Process December 31 15,000 Direct Material December 31 10,000 Finished Goods Inventory December 31 60,000 Net Income 15,000 Direct Materials used 30,000 Cost of Goods Sold 55,000 Use this information to determine the dollar amount of Bravo's Direct Labor Costs for the fiscal year 2016 (Round dollar values enter as whole dollars only )

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Posted on Jun 28, 2024

At fiscal year end, December 31, 2018, Somerset Corporation had total stockholders' equity of $4,000,000. On FY 2018 year end, Somerset Corporation had Common Stock account of $1,950,000 of $10 par value common stock and Preferred Stock account of $150,000 of $100 par value.There was no treasury stock. The preferred stock was noncumulative and had a call price of $101.Use this information to determine the book value per share of Common Stock as of end of the FY 2018: (Round your answer to the nearest penny.)
On January 2, 2018, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID obtain significant influence.The investment is intended as a long-term investment.The stock was purchased for $13 per share, and represents a 30% ownership stake.Big BadCompany made $500,000 of net income in 2018, and paid dividends to All Good Company of $40,000 on December 15, 2018.Big Bad Company's stock was trading on the open market for $17 per share at the end of the year.Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole dollar.

3.Bravo Company manufactures quality gentlemen's clothing.The following selected financial information for the fiscal year 2016 is provided

Item

Amount

Sales . $100,000

Cost of Goods Manufactured 75,000

Direct Material Purchased 40,000

Factory Overhead 10,000

Work in Process - January 1 30,000

Work in Process - December 31 15,000

Direct Material - December 31 10,000

Finished Goods Inventory - December 31 60,000

Net Income 15,000

Direct Materials used 30,000

Cost of Goods Sold 55,000

Use this information to determine the dollar amount of Bravo's Direct Labor Costs for the fiscal year 2016. (Round dollar values & enter as whole dollars only.)