Answer:
Dynamic Weight Loss Co.
DYNAMIC WEIGHT LOSS CO.
Classified Balance Sheet as of June 30, 20Y7
Assets
Current Assets:
Cash $119,630
Accounts Receivable 26,100
Prepaid Insurance 8,400
Prepaid Rent 6,000
Supplies 11,200
Total current assets $171,330
Long-term Assets:
Land 375,000
Equipment 325,900
Accumulated Depreciation (32,600) 293,300
Total long-term assets $668,300
Total assets $839,630
Liabilities and Equity
Current Liabilities:
Accounts Payable $10,830
Salaries Payable 7,500
Unearned Fees 21,000
Total current liabilities $39,330
Equity:
Common Stock 180,000
Retained Earnings 620,300
Total equity $800,300
Total liabilities and equity $839,630
Explanation:
a) Data and Calculations:
Trial Balance as of June 30, 20Y7
Account Titles Debit Credit
Cash $119,630
Accounts Receivable 26,100
Prepaid Insurance 8,400
Prepaid Rent 6,000
Supplies 11,200
Land 375,000
Equipment 325,900
Accumulated Depreciation - Equipment $32,600
Accounts Payable 10,830
Salaries Payable 7,500
Unearned Fees 21,000
Common Stock 180,000
Retained Earnings 620,300
Total $872,230 $872,230
Answer:
a leasehold
Explanation:
Leasehold relates to an accounting phrase for a rented resource. Usually the asset is estate such as a house or storage within a building. The lessee buyouts with the property owner in return for a sequence of planned payouts throughout the lease term, for the lawful right to utilize the estate.
Once a lease agreement is signed, to a degree permitted by the deal, the purchaser or tenant starts to construct the accommodation for its activities. In commercial real estate, leaseholds are much more popular whereby supermarkets as well as other facilities can be constructed on the ground but often occur in housing uses, such as homes and condos.
[ Answer ]
[ Explanation ]
Brisket - Cut from breast or lower chest. Brisket comes from a cow or veal
Brisket is ideal for smoking because of its high fat content. When smoking meat, if the meat does not have lots of fat and is thing, the smoking process can dry out the meat. With brisket, the meat is very fat, causing the meat not to dry out and getting a tender juicy flavor.
When lighting a campfire or barbecue, you may notice lots of smoke. The smoke may affect your breathing, make you thirsty, or dry you out. This is the same affect of the meats. The smoke provides lots more flavor for the meat, and dries it out, if there is not enough fat on the meat.
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Answer:
The answer is,
O To raise money for the corporation.
Explanation:
Issuing share is a method of financing for a corporation. Company can borrow money from external parties such as banks or issue debentures as well. However, the cost of such borrowings tends to be higher than issuing equity stocks and there are many legal necessities as well in such a process.
Answer:
a. Incremental costs = (Direct materials + Direct labor) * 20%
Incremental costs = ($26 + $28) * 20%
Incremental costs = $54 * 20%
Incremental costs = $10.8
Incremental selling price = $72 - $64.8 = $7.2
Incremental profit (loss) = Incremental selling price - Incremental costs = $7.2 - $10.8 = $(3.6)
b. No. As there is Incremental loss, it should not be processed further
