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JulijaS [17]
3 years ago
8

Use the information below to answer the following questions: Common Stock: $17,000 Service Revenue: $20,000 Notes Payable: $5,00

0 Salaries Expense: $10,000 Accounts Receivable: $7,000 Ending Retained Earnings: $26,000 Supplies: $2,000 Insurance Expense: $1,500 Prepaid Insurance: $3,000 Utilities Expense: $4,000 Office Equipment: $16,000 Accounts Payable: $4,000 Cash: $24,000.
An income statement prepared for the year ended December 31 2013 would reflect Net Income of how much?

A Balance Sheet prepared as of December 31, 2013 would reflect total Assets of how much?

A Balance Sheet prepared as of December 31, 2013 would reflect total Liabilities of how much?

A Balance Sheet prepared as of December 31, 2013 would reflect total Stockholders' Equity of how much?
Business
1 answer:
Sveta_85 [38]3 years ago
5 0

Answer:

Please see details bellow:

Explanation:

BALANCE SHEET

Assets  

Cash  $24.000  

Accounts Receivable  $7.000  

Prepaid Insurances  $3.000  

Office Equipment  $16.000  

Inventory  $2.000  

TOTAL ASSETS   52.000  

Liabilities  

Accounts Payable   $4.000  

Notes Payable   $5.000

TOTAL LIABILITIES   $9.000  

Equity  

Common Stock   $17.000  

Retained Earnings  $26.000  

TOTAL EQUITY   $43.000  

INCOME STATEMENT

Sales  $20.000  

Salaries Expenses    -$10.000  

Insurances Expenses -$1.500  

Utilities Expenses   -$4.000  

Net Income  $4.500  

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Answer: $107,900

Explanation:

Cumulative Preferred Shares refer to shares that a company has to pay dividends eventually. This means that if they are unable to pay for some years, they are to accrue that payment until they are able to.

There are 119000 shares of no-par 6% preferred stock with a stated value of $5.

That means preferred shares are liable to the following amount of dividends,

= 119,000 * 5 * 6%

= $35,700

Preferred Shares have not being paid for the past 2 years and need to be paid in the current year as well. That means 3 payments,

= 35,700 * 3

= $107,100

Preferred Shares are to be paid $107,100 out of the $215,000 with the rest going to common shares.

Amount going to Common Shares is,

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= $107,900

Common Stockholders are to receive $107,900

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3 years ago
On January 1, 2013, an investor purchases 25,000 common shares of an investee at $9 (cash) per share. The shares represent 20% o
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Your older and wiser sibling has offered to loan you some much needed money to help cover textbook expenses this semester. Since
masya89 [10]

Answer:

80 years

Explanation:

Data provided in the question:

Simple interest rate charged = 1.25% = 0.0125

Now,

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Since the debt is doubled this means the interest  is equal to the principal amount

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$x = $x × 0.0125 × Time

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Steve introduces in-house technical training programs for employees, as well as a provision to reimburse the tuition fees for em
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Answer:

B. High performances work practice

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High performance work practices are actions that tend to improve an organization's or a company's effectiveness and efficiency. They are practices structured to promote employees knowledge, improve commitment and motivate them. It involves investing in human power aimed at developing necessary skills, knowledge, techniques, and so on. In this scenario, Steve is trying to motivate and retain members of his organization by carry out high performance work practices like inhouse technical training and reimbursing tuition fees for employees who take relevant college courses.

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Gallons per Week Total Benefit Marginal Benefit
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Answer:

Marginal Benefit = 7,6,5,4,3,2,1 .

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Explanation:

Marginal Benefit is addition to total benefit when an additional unit is consumed.

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