Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. alex wants to invest money in a 6% cd account that

Alex wants to invest money in a 6% CD account that compounds semiannually. Alex would...

70.2K

Verified Solution

Question

Accounting

Alex wants to invest money in a 6% CD account that compounds semiannually. Alex would like the account to have a balance of $50,000 five years from now. How much must Alex deposit to accomplish her goal? Choose closest answer.

A) $37,205.

B) $43,131.

C) $35,069.

D) $35,000. PV 10pds 3% .7441 ,PV 10pds 6% .86262, PV 5 pds 6%, 7018 PV 5 pds 3% .7000

At the beginning of 2019, Emily Corporation issued 10,000 shares of $100 par, 5%, cumulative, preferred stock for $110 per share. No dividends have been paid to preferred or common shareholders. What amount of dividends will a preferred shareholder owning 100 shares receive in 2021 if Emily pays $1,000,000 in dividends?

A. $1, 500.

B. $ 500.

C. $1,650.

D. $10,000.

Ted Company owned 20,000 shares of Jones Company that were purchased in 2019 for $500,000. On May 1, 2021, Ted declared a property dividend of 1 share of Jones for every 10 shares of Ted stock. On that date, there were 50,000 shares of Ted stock outstanding. The market Price of the Jones stock was $30 per share on the date of declaration and $32 per share on the date of distribution. By how much is retained earnings reduced by the property dividend?

A. $0.

B. $160,000.

C. $150,000.

D. $300,000.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students