On January 4 of year 1, the Barber Company purchased 7,500 shares of Convell Company for $84,500 plus a $1,500 broker fee. Convell Company has a total of 37,500 common shares outstanding and it is presumed that Barber Company will have significant influence over Convell. During each of the next two years, Convell declared and paid a cash dividend of $0.85 per share, and its net income was $97,000 and $92,000 for Year 1 and Year 2, respectively. What is the book value of Barber's investment in Convell at the end of year 2?

The Ballentine Company expects sales for June, July, and August of $67,000, $73,000, and $63,000, respectively. Experience suggests that 40% of sales are cash and 60% credit. The company collects 55% of its sales on credit in the month following the sale, 40% in the second month following the sale, and 5% is not collected. What are the company's expected cash receipts for August from its current and past sales?

The current information for the Healey Company is as follows:

Beginning inventory of raw materials	ps	25,200
raw material purchases		70.000
Ending inventory of raw materials		26,600
Initial work-in-process inventory		32,400
Ending inventory of work in process		38,000
Direct labour		52,800
Total factory overhead		40.000

All raw materials used were traceable to specific product units. The Healey Company's cost of goods manufactured for the year is ?

Answer rating: 100% (QA)

Dividends per share 085 Total dividends received Dividends per share x Number of shares owned x Number of years Total dividends received 085 x 7500 x 2 12750 Next we can calculate the share of net inc... View the full answer