问题 问答题

某公司现有资产1 000万元,权益乘数为2,公司认为目前的资本结构是合理的并将继续保持下去,现有所有者权益均为普通股本,每股面值50元。负债的平均利率为10%,其他有关资料如下。 (1) 年初累计未分配利润为-140万元。 (2) 当年实现销售收入为5 000万元,变动成本率为50%,固定成本为950万元。 (3) 所得税税率为40%。 (4) 提取盈余公积金和公益金的比例均为10%。 (5) 预计下一年投资计划所需资金为2 000万元。 (6) 继续发行股票的面值保持不变。 要求: (1) 若该公司采取剩余股利政策,其当年盈余能否满足投资对权益资本的需要若不能,应增发多少普通股该公司本年度应否发放股利为什么 (2) 假设上述投资所需资金或者全部发行普通股利取得,或者全部发行长期债券取得(债券年利率为12%)。在预计息税前利润为1600万元的条件下,你认为哪种筹资方式对公司更为有利

答案

参考答案:

目为权益乘数

 所以资产负债率=50% 所以所有者权益=1 000万元×(1-50%)=500万元 普通股股数=500万元/(50元/股)=10万股 当年税后利润=(5 000-5 000×50%-950-500×10%)万元×(1-40%)=900万元 提取盈余公积金=(900-140)万元×10%=76万元 提取公益金=(900-140)万元×10%=76万元 可用于投资的税后利润=(900-140-76-76)万元=608万元 需增发股数

股=78 400股 又因为满足投资对权益资本的需要后无可分配的盈余,所以不能发放股利。

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The word science is heard so often in modern times that almost everybody has an idea of its meaning. However, its definition is difficult for many people. The meaning of the term is confusing, but everyone should understand its meaning and objectives (目标). Just to make the explanation as simple as possible, suppose science is defined as classified knowledge or facts.
Even in the true science, distinguishing fact from fiction is not always easy. For this reason great care should be taken to distinguish between beliefs and truths. There is no danger as long as a clear difference is made between temporary and proved explanations. For example, hypotheses(假设) and theories are attempts to explain natural phenomena. From these positions the scientist continues to experiment and observe until they are proved or discredited. The exact status of any explanation should be clearly labeled to avoid confusion.
The objectives of science are primarily the discovery and later the understanding of the unknown. Man cannot be satisfied with recognizing that secrets exist in nature of that questions are unanswerable; he must solve them. Toward that end, specialists in the field of biology and related fields of interest are directing much of their time and energy.
Actually, two basic approaches lead to the discovery of new information. One, aimed at satisfying curiosity, is referred to as pure science. Sometimes practical-minded people miss the point of pure science in thinking only of its immediate application for economic rewards. However, one should remember that the construction of the microscope had to come before the discovery of the cell. The host of scientists devoting their lives to pure science are not apologetic about ignoring the practical side of their discoveries; they know from experience that most knowledge is eventually applied.
The other is aimed at using knowledge for specific purposes--for instance, improving health, raising standards of living, or creating new consumer products. In this case, knowledge is put to economic use. Such an approach is referred to as applied science.
The小题1:of science
小题2:__________ of science
● To define science, we may小题3:________call it classified knowledge or facts.
● It is essential, though not 小题4:_____  , for us to distinguish fact from fiction.
Objectives of science
Science is 小题5:______ at discovering and understanding the unknown.
Two basic
小题6:_________to
new discovery
Pure science
Scientists, who may be blamed for小题7:____ the practical side of their work, make discoveries out of 小题8:_______. 
小题9:______science
Knowledge is put to economic 小题10:_______, for example, improving health, raising living standards and creating new products.
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