Answer:
Stuart Manufacturing Company
Assets = $107,200
Explanation:
a) Data and Calculations:
Cash Account
Common stock $89,000
Furniture (32,000)
Equipment (40,000)
Salaries (12,000)
Wages (21,000)
Raw materials (26,000)
Sales 72,000
Cash balance $30,000
Inventory:
Cost = $26,000
Units produced = 10,000 units
Cost per unit = $2.60 ($26,000/10,000)
Cost of goods sold = 8,000 * $2.60 = $20,800
Ending inventory = 2,000 * $2.60 = $5,200
Sales Revenue = 8,000 * $9 = $72,000
Assets:
Cash $30,000
Ending inventory 5,200
Furniture 32,000
Equipment 40,000
Total $107,200
b) An asset is something that brings in future cash flows to the business entity. It is made up of Cash and Cash Equivalents, Inventories, Property, Plant, Equipment, and other business investments. Assets are funded from finance provided by creditors and the equity owners, and they generate economic values.
Answer:
in·ter·est
/ˈint(ə)rəst/
Learn to pronounce
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Commerce
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noun
1.
the state of wanting to know or learn about something or someone.
"she looked about her with interest"
Similar:
attentiveness
undivided attention
absorption
engrossment
heed
regard
notice
scrutiny
curiosity
inquisitiveness
enjoyment
delight
Opposite:
boredom
2.
money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
"the monthly rate of interest"
Similar:
dividends
profits
returns
a percentage
Explanation:
Trade restrictions tend to preserve relatively few jobs in the protected industries and lead to job losses in other industries. Trade restrictions can vary from quotas, embargoes, standards, subsidies, tariffs and more that make it hard to trade (important/export) goods between two companies and also set prices for these. Depending on what is allowed and what is not different industries can benefit from the trade restrictions and some can be harmed by them.
Answer and Explanation:
The computation of the depreciation expense for 2017 and 2018 under the following methods
a. Straight-line method
= (Purchase cost - residual value) ÷ (estimated life)
= ($400,000 - $100,000) ÷ (5 years)
= $60,000
Since the depreciation expense under this method would remain the same for the remaining useful life
So for 2017 and 2018, the depreciation expense i.e. $60,000 would be charged every year.
b. Under the sum-of-the-year-digits method
For 2017,
= ($400,000 - $100,000) × 5 years ÷ ( 5 + 4 + 3 + 2 + 1)
= $300,000 × 5 years ÷ 15 years
= $100,000
For 2018, the book value is
= $400,000 - $100,000
The $100,000 is the depreciation expense of 2017 year
= $300,000 × 4 ÷ 15
= $80,000
