All categories

3 years ago

The revenues and expenses of Paradise Travel Service for the year ended May 31, 20Y6, follow:

Business

1 answer:

Hitman42 [59]3 years ago

3 0

Answer:

Common Stock 100,000

Retained Earnings 425,000

Total 525,000

Explanation:

Paradise Travel Service Statement of Net Income

Fees Earned : 900,000

Less Office Expense : (300,000)

Less Miscelleaneous Expenses :( 15,000)

Less Wages expense (450,000)

Net Earnings 135,000

Paradise Travel Service statement of stockholders’ equity for the year ended May 31, 20Y6

Common stock Retained Earning Total

Balance Jan 1 60,000 300,000 360,000

Additional Invested capital

40,000 - 40,000

Net Income :

- $135,000 $135,000

Less Dividends paid

- ($10,000) ($10,000)

Balance, May 31 20y6

100000 425000 525000

Common Stock 100,000

Retained Earnings 425,000

Total 525,000

You might be interested in

Why do employers prefer employees with good work ethics? A. because an employee with good work ethics will always be a team play

ivann1987 [24]

D. because an employee with good work ethics can prove to be an efficient resource overall ( because its common sense)

5 0

3 years ago

Sylvia works part-time at an office and also goes to school in the evenings. She is considering taking supplies for a class proj

castortr0y [4]

Answer:

Letter D is correct. <em>Public knowledge test.</em>

Explanation:

The ethics test to make your decision was the public knowledge test. According to studies, a person judges the consequences of taking an unethical attitude using a sequential and rational approach. There are a sequence of judgments which are: moral rules, defense testing, ethical principles, and anticipatory high evaluation. Taken together, these steps will help you identify if there are more advantages or disadvantages to an unethical act.

4 0

3 years ago

Consider the following statement: "An increase in supply decreases the equilibrium price. The decrease in price increases dem

pochemuha

Answer:

The correct answer is option A.

Explanation:

An increase in supply decreases the equilibrium price as the supply curve shifts rightward and intersects the demand curve at a lower point. This decline in the equilibrium price causes the quantity demanded to increase. The demand for the product remains the same.

The statement given in the question is false. A change in demand is caused by a change in other factors while the price of the product remains the same. The change in price affects the quantity demanded.

5 0

3 years ago

You need to know more than just facts in order to use critical thinking skills.

solniwko [45]

true at least in my opinion

3 0

3 years ago

Read 2 more answers

You manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 30%. The T-bill rate is 6%. Your

Roman55 [17]

Answer:

Explanation:

Expected return of the portfolio is weighted average of the return of the components.

E(R) = w1 * R1 + w2 * R2

E(R) = 65% * 18% + 35% * 6%

E(R) = 11.70% + 2.10%

Expected Return, E(R) = 13.80%

Standard deviation of portfolio is mathematically represented as:

$\sigma =\sqrt{w_1^2\sigma _1^2+w_2^2\sigma _2^2+2w_1w_2p_{1,2}\sigma_1\sigma_2}$

where

w1 = the proportion of the portfolio invested in Asset 1

w2 = the proportion of the portfolio invested in Asset 2

σ1 = Asset 1 standard deviation of return

σ2 = Asset 2 standard deviation of return

For risk free money market fund, standard deviation = 0 and its correlation with risky portfolio = 0

$\sigma =\sqrt{ (0.65 * 0.30)^2 + (0.35 * 0)^2 + (2 * 0.65 * 0.30*0.35 *0*0)} \\\\= \sqrt{0.038025 +0+0} \\\\ = 0.195$

Standard deviation = 19.50%

7 0

3 years ago