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vfiekz [6]
2 years ago
10

Match each term with the correct statement below.

Business
1 answer:
viktelen [127]2 years ago
8 0
E - Glass Ceiling
is the answer
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Cordell Inc. experienced the following events in Year 1, its first year of operation: Received $59,000 cash from the issue of co
faltersainse [42]

Answer:

a & c. See part a & c of the attached excel file for the table. In the attached excel file, Total revenue = $100,000; and Total expenses = $61,900.

b. The amount of net income reported on the 2018 income statement is $38,100.

d. The amount of cash flow from operating activities reported on the 2018 statement of cash flows is $25,000.

e. Before closing balance in service revenue account = $100,000; and After closing balance = $0.

f. The balance of the retained earnings account that appears on the 2018 balance sheet is $32,200.

Explanation:

a. & c. Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, IA for investing activity and NA to indicate the element is not affected by the event.

Note: See part a & c of the attached excel file for the table.

From the attached excel file, we have:

Total revenue = $100,000

Total expenses = $61,900

b. Based on your response to Requirement a, determine the amount of net income reported on the 2018 income statement.

Based on part a & c above, we can determine this as follows:

Net income = Total revenue - Total expenses = $100,000 - $61,900 = $38,100

Therefore, the amount of net income reported on the 2018 income statement is $38,100.

d. Based on your response to Requirement c, determine the amount of cash flow from operating activities reported on the 2018 statement of cash flows.

Note: See part d of the attached excel file for the amount of cash flow from operating activities.

From the attached excel file, we have:

Cash flow from operating activity = $25,000

Therefore, the amount of cash flow from operating activities reported on the 2018 statement of cash flows is $25,000.

e. What is the before- and after-closing balance in the service revenue account?

Before closing balance in service revenue account = Services performed on account + Services performed for cash = $81,000 + $19,000 = $100,000

After closing balance = $0

The "after closing balance" is equal to zero because, at the end of a particular period, the balance of the service revenue account turns to $0 when the firm has to close the balance of the service revenue account in the retained earnings.

f. What is the balance of the retained earnings account that appears on the 2018 balance sheet?

Retained earnings = Net income - Cash dividend paid to the stockholders = $38,100 - $5,900 = $32,200

Therefore, the balance of the retained earnings account that appears on the 2018 balance sheet is $32,200.

Download xlsx
6 0
2 years ago
You purchased 2,200 shares of the New Fund at a price of $25 per share at the beginning of the year. You paid a front-end load o
Sati [7]

Answer:

rate of return 9.22%

Explanation:

15% return on fund value - 2.4% fund expenses = 12.6% net fund gain

then, the shares were purchased with a loan which required to paiy 3% of interest up-front

therefore, we didn't invest 100% of the loan but 97%

0.97 x .126 =  0,12222

now, we subtract the 3% paid of interest:

.1222-0.03 = .0922 = 9.22%

7 0
3 years ago
The government can shift or influence supply in a market by providing subsidies (money) to businesses or by taxing them heavily.
scoundrel [369]
I think it’s false , sorry if it’s wrong :(
5 0
3 years ago
Product differentiation and advertising are profitable ventures only when:
dalvyx [7]

Answer:

Product differentiation and advertising are profitable ventures only when:

the gain in total revenue outweighs the extra cost

Explanation:

When Company XYZ differentiates its product from competitors' through trademarks and other differentiating factors and embarks on advertising, it must watch out for cost overrun.  The undertaking for the product differentiation and advertising should be able to generate more revenue than the costs.  This will make Company XYZ determine that its differentiation and advertising make economic meaning by producing positive NPV.

3 0
3 years ago
The price quotations of Treasury bonds in the Wall Street Journal show an ask price of 104.25 and a bid price of 104.125.
Andreas93 [3]

As a seller we would receive $1,041.25

<u>Solution:</u>

You may receive the bid price of the dealer, 104.125\% of $1,000, or $1,041.25

Prices of treasury bonds are expressed as par value amounts.  

The quote price of 104:25 means that the bond is priced at (104 + \frac{25}{100})\%= 104.25\% of the par value.  

Therefore, if the debt is $1,000, the dollar values to be charged by the borrower should be 1,000\times104.25\% = \$1,041.25

5 0
2 years ago
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