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3 years ago

14

If total liabilities increased by $6,000 and the assets increased by $8,000 during the accounting period, what is the change in

the owner’s equity amount?

1 answer:

Usimov [2.4K]3 years ago

6 0

The owner has $2,000 more in assets. therefor the equity increased by 2,000

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In a market with an upward sloping supply curve and a downward sloping demand curve, when there is an excess supply, the actual

erik [133]

Answer:

The correct answer is: the actual price is higher than equilibrium price.

Explanation:

With a downward sloping demand curve and upward-sloping supply curve, excess supply means that the supply is more than quantity demanded. The actual price is higher than the equilibrium price level.

We are aware that price and supply are directly related, so the firms will supply more at a higher price. But price and quantity demanded are inversely related, so at higher price, the consumers will demand less quantity of the product.

Thus excess supply is created in the market at a price higher than the equilibrium price.

7 0

3 years ago

Permabilt Corp. was incorporated on January 1, 2019, and issued the following stock for cash: 2,000,000 shares of no-par common

Fantom [35]

Answer:

Permabilt Corp.

a. Journal Entries:

Debit Cash $26,250,000

Credit Common stock $26,250,000

To record the issuance of 750,000 shares at $35 per share.

2. Debit Cash $56,700,000

Credit Preferred stock $54,000,000

Credit Additional paid-in capital- preferred stock $2,700,000

To record the issuance of 540,000 shares at $105 per share.

3. Debit Cumulative preferred stock dividends $12,150,000

Debit Common stock $2,850,000

Dividends Payable $15,000,000

To record the declaration of dividends.

b. Preferred shareholders will receive $12,150,000 out of the $15 million declared dividends during 2021 ($4,050,000 for each year)

c. Common stock dividends per share = $3.80 ($2,850,000/750,000)

Explanation:

a) Data and Calculations:

Authorized share capital:

Common stock = 2,000,000 shares of no-par value

7.5% cumulative, preferred stock = 800,000 shares at $100 par value

Issued share capital:

Common stock, 750,000 at $35 = $26,250,000

Cash $26,250,000 Common stock $26,250,000

Preferred stock, 540,000 at $105 = $56,700,000

Cash $56,700,000 Preferred stock $54,000,000 Additional paid-in capital $2,700,000

Declared Dividends = $15,000,000

Cumulative preferred stock dividends for 3 years

= $12,150,000($4,050,000 * 3)

Common stock = $2,850,000 ($15,000,000 - $12,150,000)

4 0

2 years ago

At December 31, 2018 and 2019, Frist Company had outstanding 50 million common shares and 4 million shares of 10%, $10 par cumul

klemol [59]

Answer:

The EPS for 2019 was $0.32

Explanation:

A Net Income $20,000,000

B No. of preferred Stock shares $4,000,000

C Par value per share $10.00

D = C*10% Dividend per share (10%) $1.00

E = B*D Preferred Dividend $4,000,000.00

F = A - E Net Income(Common Stockholders) $16,000,000.00

G Number of share(common stock)outstanding 50,000,000

H = F - G Earning per share for 2019 $0.32

Therefore,The EPS for 2019 was $0.32

8 0

3 years ago

What are the three main parts to a slide presentations structure? A) thesis statement, supporting evidence, and concluding quote

aleksandrvk [35]

Answer:

D) introduction, body, and conclusion

Explanation:

Slide presentations structure -

A presentation structure and pre- planning is very important for a perfect presentation .

The structure of a presentation comprises of -

an introduction ,

body ,

conclusion .

Introduction -

It is the very first slide of the presentation , which initiates the presentation , and gives a overview of the topics and sub-topics that will be discussed in the upcoming slides .

Body -

It is the portion of the presentation , which have all the information thoroughly explained , this portion may include the maximum number of slides of the presentation .

Conclusion -

It is the last portion of the presentation , which discuss about the about the summary of all the points that were discussed in the body of the presentation , and finally sums up the presentation .

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3 years ago

Who benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax?

Nonamiya [84]

The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.

<h3 /><h3>What are Income tax in the United States?</h3>

Income taxes in the United States is known to be a kind of a tax that is often imposed by the federal government, as well as a lot of states.

Note that the income taxes are said to be set by applying a tax rate as income increases, and as such,

Therefore, The person that benefits from deducting the amount paid in state income tax from their income for purposes of computing federal income tax is option a: Everyone who must pay state income tax.

Learn more about federal income tax from

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3 0

1 year ago