Answer:
c. $12,175,000.
Explanation:
Given: Merchandise sold by Lang company= $12520000.
Sales return and allowances= $270000.
Discount= $140000.
While calculating net sales, freight out charges is not included as it an selling expense and it should be included while calculating Gross profit of the company.
Here, we have to find the last year net sales for Lang company.
∴
⇒ Net sales =
∴Net sales=
Answer:
3.46 m/s
Explanation:
This is actually a Physics question and not a Business question.
According to the property of conservation of momentum, the speed of the Mazda before the collision multiplied by the mass of the Mazda must equal the speed after the collision multiplied by the mass of both cars:
The post-collision speed of the two entangled cars is 3.46 m/s.
Answer:
The Accounting Equation states that;
Assets = Liabilities + Equity
Equity as at 2016 = Assets - Liabilities
= 50 - 13
= $37 million
Equity as at 2017 = Assets - Liabilities
= 77 - 18
= $59 million
1. Timmy issued $13 million of stock and declared no dividends.
<em>The Net Income ( loss) will be the figure that gives the Statement of Equity a figure of $59 million.</em>
Net Income = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016 - Issuance of stock
= 59 - 37 - 13
= $9 million
Total stockholders' equity, January 31, 2016 ................ 37
Add: Issuance of stock ......................................................... 13
Net income ......................................................................9
Less: Dividends declared......................................................0
Net loss.......................................................................................0
Total stockholders' equity, January 31, 2017...................59
2. Timmy issued no stock but declared dividends of $17 million.
Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016 + Dividends Declared
= 59 - 37 + 17
= $39 million
Total stockholders' equity, January 31, 2016 ................ 37
Add: Issuance of stock ......................................................... 0
Net income ......................................................................39
Less: Dividends declared......................................................(17)
Net loss.......................................................................................0
Total stockholders' equity, January 31, 2017...................59
3. Timmy issued $20 million of stock and declared dividends of $27 million.
Net Income (loss) = Total stockholders' equity, January 31, 2017 - Total stockholders' equity, January 31, 2016 + Dividends Declared - Issuance of stock
= 59 - 37 + 27 - 20
= $29 million
Total stockholders' equity, January 31, 2016 ................ 37
Add: Issuance of stock ......................................................... 20
Net income ......................................................................29
Less: Dividends declared......................................................(27)
Net loss.......................................................................................0
Total stockholders' equity, January 31, 2017...................59
