Question 15 of 20

During the first year of operations, a company sold $113,000 of goods to customers and received $96,500 in cash from customers.

Oksi-84 [34.3K]

Answer:

Net Income for the year is $41700

Explanation:

The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.

This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.

Thus, net income for this year will be calculated as,

Net Income = Total Sales Revenue - Total expenses

Net income = 113000 - 71300

Net Income = $41700

6 0

3 years ago

At the beginning of its current fiscal year, Willie Corp.’s balance sheet showed assets of $10,100 and liabilities of $6,900. Du

Viefleur [7K]

Answer:

Dividends = 6,000

Explanation:

Ending liabilities = Beginning liabilities - Decrease in liabilities

= $6,900 - $1,200

= $5,700

Ending net assets = Ending total assets - Ending total liability

$3,900 = Ending total assets - $5,700

Ending total assets = $3,900 + $5,700

= $9,600

Ending RE = Ending total assets - Ending liabilities

= $9,600 - $5,700

= $3,900

Dividend = Beginning RE + Net income - Ending RE

= $6,900 + $3,000 - $3,900

= $6,000

3 0

3 years ago

Construction ManagementA construction company is building a new neighborhood, and they are currently working on the design. Each

VLD [36.1K]

Answer:

Answer is described below.

Explanation:

POINTS TO NOTE:

1. Each house will be built using one (only one) of three major building materials - wood, brick, concrete.

2. The linear (in a line or side-by-side) arrangement of the houses will be such that no house will have the same material as the one beside it.

3. The cost of materials for each house will vary.

ANSWER: The minimum cost needed to complete the neighborhood depends on two things;

- The cost of each type of house (cost of a wood house, cost of a brick house, cost of a concrete house)

- The number of each type of house to be built. Or, the number of houses to be built; bearing in mind that they must be arranged without consecutive repetition. Hence, how much will a wood house cost? How much will a brick house cost? How much will a concrete house cost?

Knowing these, the minimum cost needed to complete the neighborhood can be found. If it's going to be 6 houses in the neighborhood for instance and a wood house costs $40, a brick house costs $50 and a concrete house costs $60; the minimum cost to set up the neighborhood will be:

2(40) + 2(50) + 2(60) = 80+100+120 = $300

The number of each type of house will be 2 because same-material houses cannot stay side-by-side. If the rule wasn't there and all the houses were to be concrete, the total cost would be 6(60) = $360

7 0

2 years ago

What does a bdc invest in? a publicly-held small-cap companies b publicly-held mid-cap companies c privately-held small-cap and

Anna007 [38]

Business development companies are known as BDCs. It is a 1940 Act-registered investment company that trades and is listed just like any other stock.

A closed-end fund called a "business development company" (BDC) invests in growing and struggling businesses. Retail investors can invest in many BDCs, which are listed on public markets. High dividend rates and some possibility for capital growth are offered to investors by BDCs.

A BDC often invests in private enterprises using equity securities or debt (loans). It looks for ways to produce current income and/or capital gains that are tax-efficient. BDCs are regulated in a similar way to mutual funds, but they often use leverage to produce excess returns.

A BDC is a closed-end fund that must allocate at least 70% of its assets to long-term debt and/or equity investments in privately held or thinly traded public companies in order to generate current income and/or capital gains.

Business development companies are known as BDCs. It is a 1940 Act-registered investment company that trades and is listed just like any other stock. It makes "private equity" investments in privately held start-up companies as well as mid-sized businesses rather than making investments in securities.

Hence, The correct option is C.

What does a BDC invest in?

A. Publicly-held small-cap companies

B. Publicly-held mid-cap companies

C. Privately-held small-cap and mid-cap companies

D. Privately-held large-cap companies

To learn more about Business development companies refer to:

brainly.com/question/1621812

#SPJ4

8 0

1 year ago

What is a standing order?

Vsevolod [243]

<span>An order or ruling governing the procedures of a society, council, or other deliberative body.</span>

3 0

3 years ago