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Lapatulllka [165]
3 years ago
12

Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows

. Rent for the month $ 1,360 Monthly take-home salary $ 3,260 Cash in checking account $ 1,270 Savings account balance $ 1,990 Spending for food $ 560 Balance of educational loan $ 2,390 Current value of automobile $ 8,530 Telephone bill paid for month $ 94 Credit card balance $ 334 Loan payment $ 147 Auto insurance $ 326 Household possessions $ 3,970 Stereo equipment $ 2,590 Payment for electricity $ 166 Lunches/parking at work $ 181 Donations $ 122 Home computer $ 2,140 Value of stock investment $ 1,810 Clothing purchase $ 137 Restaurant spending $ 167 Total assets $ Total liabilities $ Net worth $ Total cash inflows $ Total cash outflows $
Business
1 answer:
guajiro [1.7K]3 years ago
4 0

Answer:

Cash inflows = $3,260

Cash outflows = $3,260

Total assets = $22,300

Total liabilities = $2,724

Net worth = $19,576

Explanation:

Cash inflows = Monthly take-home salary $3,260

Cash outflows = Rent for the month $1,360 + Spending for food $560 + Telephone bill paid for month $94 + Loan payment $147 + Auto insurance $326 + Payment for electricity $166 + Lunches/parking at work $181 + Donations $122 + Clothing purchase $137 + Restaurant spending $167 = $3,260

Total assets = Cash in checking account $1,270 + Savings account balance $1,990 + Current value of automobile $8,530 + Household possessions $3,970 + Stereo equipment $2,590 + Home computer $2,140 + Value of stock investment $1,810 = $22,300

Total liabilities = Balance of educational loan $2,390 + Credit card balance $334 = $2,724

Net worth = $22,300 - $2,724 = $19,576

 

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Henry Jones contributed equipment, inventory, and $57,300 cash to a partnership. The equipment had a book value of $27,800 and m
Oliga [24]

Answer:

A. $86,900

Explanation:

Henry’s capital account will be credited by the amount of $86,900. See computation below.

Cash $57,300

Equipment 34,100

Inventory 10,400

Note payable (14,900)

————

Total $86,900

*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.

*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.

3 0
3 years ago
When the stockholders receive a dividend, how would this affect the equity of a business?.
morpeh [17]

Assets and total equity will both be decreased is When the stockholders receive a dividend, how would this affect the equity of a business.

<h3>Who are the stockholder?</h3>

Stockholders are the people who have purchased the stocks and have invested in the particular firm, they are the people. The stockholders hold some of the share of any company, which they can sell or purchase anytime.

Thus, Assets and total equity will both be decreased is When the stockholders

For more details about Stockholders, click here:

brainly.com/question/13142622

#SPJ1

7 0
2 years ago
Some recent financial statements for Smolira Golf Corp. follow:
nalin [4]

Answer:

1. The company's profit margin is 13.4% percent.

profit margin = net income / net sales = $45,064 / $336,329 = 13.4%

2. The total asset turnover is 0.82 times.

asset turnover ratio = net sales / average assets = $336,329 / [($387,891 + $432,000)/2] = $336,329 / $409,945.50 = 0.82

3. The equity multiplier is 1.7 times.

equity multiplier = average total assets / average total equity = $409,945.50 / [($205,936 + $275,000)/2] = $409,945.50 / $240,468 = 1.70

4. Using the Du Pont Identity, the company's ROE is 18.68% percent.

ROE = profit margin x asset turnover x equity multiplier (or financial leverage) = 0.134 x 0.82 x 1.7 = 0.1868 = 18.68%

4 0
3 years ago
Which of the following is considered risk?
xxTIMURxx [149]
Im guessing the 3rd or the first Idunno

6 0
3 years ago
Cullumber Corporation earns $840000 and pays cash dividends of $300000 during 2021. Dexter Corporation owns 4200 of the 10000 ou
umka21 [38]

Answer: $1,306,800

Explanation:

In answering this question, we look at how much of that income, Cullumber still had on hand and then take the proportion that belongs to Dexter.

Cullumber Corporation earns $840,000 and pays cash dividends of $300,000 during 2021.

That means that after paying the dividends they are left with,

= 840,000 - 300,000

= $540,000

Now, Dexter owns 4200 out of 10,000 shares. That means they own,

= 4,200/10,000

= 42% of Cullumber Corporation stock.

If they own 42% of the stock, they are entitled to 42% of the income so,

= 42% * 540,000

= $226,800

Now we then add this figure to the opening balance,

= $1,080,000 + $226,800

= $1,306,800

$1,306,800 is the amount Dexter should show in the investment account at December 31, 2021.

8 0
3 years ago
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