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4 years ago

The following information has been taken from the ledger accounts of Bridgeport Corporation.

Business

1 answer:

stealth61 [152]4 years ago

5 0

Answer:current balance of retained earnings=$206,000

Explanation:

Net Retained Earnings = Total Income since Incorporation−

Total Cash Dividend Paid− Value of Stock Dividend distributed

Where

cash dividends distributed among the stakeholders= $55,000

value of stock dividends distributed = $31,000

Total Dividend Distributed = $86,000

Net Retained Earnings = $292,000 -($86,000)=$206,000

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Equipment is a(n) _____________ account. It is reported on the _____________ side of the accounting equation and is ____________

Stella [2.4K]

Answer:

Equipment is an _asset__ account. It is reported on the _left_ side of the accounting equation and is __increased__ when equipment is purchased

Explanation:

Buying more Equipment is an asset to company in the sense that it helps in boosting the company production output and in turn generating more profit. It is reported on the left side of the company accounting equation. The aggregate equation increases as the number of equipment purchase increases.

3 0

3 years ago

Chen Company's account balances at December 31, 2017 for Accounts Receivable and the Allowance for Doubtful Accounts are $800,00

Hatshy [7]

Answer:

B) $27,500.

Explanation:

The computation of the amount credited to the allowance account is shown below:

= Sales during the 2017 year × estimated uncollectible percentage

= $2,750,000 × 1%

= $27,500

By multiplying the sales with the estimated uncollectible percentage we can get the amount credited to the allowance account and the same is to be considered

Hence, the correct option is B

6 0

3 years ago

Firms in every market structure: make long-run economic profits. are in competition with many other firms. leave the market as s

aliya0001 [1]

Answer:

b. False

Explanation:

Firms are not in competition with many other firms in every market structure. Some market structures such as monopolies or oligopolies feature either one single firm, or only a few firms, that frequently collude instead of competing.

Not all firms leave the market as soon as they lose profits. Some do, but others stay. A monopoly can survive decades without increasing its profits.

Not all firms will try to maximize profits, some will try to maximize market share instead, especially in perfectly-competitive market structures.

Not all firms face a horizontal demand curve. In some market structures, demand can be very dynamic, either sloping upwards (increasing) or downwards (decreasing).

4 0

3 years ago

For a company using target costing, market price minus profit equals target price.

Sav [38]

Answer:

The answer is false

Explanation:

Market price minus profit equals target cost and not target price.

6 0

3 years ago

Suppose Potter Ltd. just issued a dividend of $2.50 per share on its common stock. The company paid dividends of $2.00, $2.07, $

Bogdan [553]

Answer:

Explanation:

Using dividend growth model formula for finding dividend per year can be used to find the growth rate per year;

The formula would be D1 = D0(1+g)

and D2 = D1(1+g)

D3 = D2 (1+g) and so on....

Starting with 2.00 dividend, growth rate from yr1-yr2;

2.07 = 2.00*(1+g)

Divide both sides by 2.00;

1+g = 2.07/ 2.00

1+g = 1.035

g = 1.035-1

g ( y1-y2) = 0.035 or 3.5%

Growth rate from yr2-yr3;

2.24 = 2.07(1+g)

Divide both sides by 2.07;

2.24/2.07 = 1+g

1.0821 = 1+g

1.0821-1 = g

g= 0.0821 or 8.21%

Therefore, g(y2-y3) = 8.21%

Growth rate from yr3-yr4;

2.34 = 2.24(1+g)

Divide both sides by 2.24;

2.34/2.24 = 1+g

1.0446 = 1+g

1.0446 -1 =g

g =0.0446 or 4.46%

Therefore, g(y3-y4) = 4.46%

Growth rate from yr4-yr5;

2.50 = 2.34(1+g)

2.50/2.34 = 1+g

1.0684 = 1+g

1.0684-1 = g

g=0.0684 or 6.84%

Therefore, g(y4-y5) = 6.84%

8 0

4 years ago