1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
eduard
3 years ago
9

Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2013. On that date t

he firm had cash and marketable securities of $25,135, accounts receivable of $43,758, inventory of $172,500, net fixed assets of $322,300, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $224,300, and common stock of $150,000. How much retained earnings did the firm have?
Business
1 answer:
OLga [1]3 years ago
5 0

Answer:

<em>Retained Earnings = 109,909</em>

Explanation:

\left[\begin{array}{cccc}cash&25,135&AP&67,855\\AR&43,758&NP&36,454\\inventory&172,500&Long-term&222,300\\fixed \:assets&332,300&Common\: Stock&150,000\\other \: assets&13,125&RE&110,209\\Total Assets&586,818&Total L+E&586,818\\\end{array}\right]

<u>First </u>

We add all the assets together. 586,818

<u>Then</u>

we add the lliabilities and common stock. 476,909

<u>Finally</u>

We use the accounting equation to solve for RE

Assets = Liab + Equity

586,818 = sum of liab and equity accounts

we know that all the accounts, except RE add to 476,909

586,818 = 476,909 + RE

586,818 - 476,909 = RE

RE = 109,909

You might be interested in
Recently, businesses have experienced debate over ___________, the practice of discriminating against a dominant or majority gro
Gnom [1K]

The correct answer would be, Reverse Discrimination.

Recently, businesses have experienced debate over Reverse Discrimination, the practice of discriminating against a dominant or majority group of persons.  

Explanation:

When people or group of people who were discriminated against previously, are being favored, then this practice is known as the Reverse Discrimination.

For example, reverse discrimination can be caused in an organization where previously discriminated Muslims are now being preferred and hired by the company.

Similarly the same practice can be seen in the companies where females are now being hired(even though the males are more qualified for the job) who were previously discriminated against men.

Reverse Discrimination is not a fair practice, because it is still a Discrimination.

Learn more about Reverse Discrimination at:

brainly.com/question/8562925

#LearnWithBrainly

7 0
3 years ago
Read 2 more answers
If a limited partnership must liquidate, the distribution of assets is first made to the?
Mumz [18]

Answer:

Explanation:

i think the answer is  third party creditors

3 0
1 year ago
rite a research-based argumentative essay for or against the importance of standing up to an injustice such as bullying.
Mekhanik [1.2K]

Answer:

It is important to stand up to bullying for a number of reasons. You may think it's better to not get involved but staying neutral always helps the oppressor. You should not let someone suffer and watch as someone else puts them in physical or psychological pain every day, it is good to stand up for what is right. You may even make a life-long best friend. So stand up for what's right and don't stay neutral so the oppressor can continue to victimize someone.  

Explanation:

Hope this helps! :)

7 0
3 years ago
One problem in the interstate trucking industry is the number of trucks that return empty after making a delivery. There is a we
balu736 [363]

Answer:

Yield management pricing

Explanation:

Yield management pricing is the charging of different prices for a given set of capacity at a specific time in order to maximize revenue. This is based on the demand and supply in the market and is very common in industries such as airlines, hotels and resorts. When there is very high demand for airline seats, prices for them are high. However, if some of those passengers decided to refund their tickets, close to departure and the flight would be taking off soon, instead of flying with empty seats and no revenue from them, the airline would decide to sell these same seats at a cheaper rate in order to gain some revenue. This is a form of revenue maximization.

6 0
3 years ago
If​ eHermes' supplier of​ self-driving vehicle chassis is able to reduce costs by having better data on both finished goods inve
Allushta [10]

Answer:

Linkages

Explanation:

Running a business is a difficult and competitive job to do and it requires tremendous internal and external effort to make it successful. Using linkages across the various processes of business helps to complete the job in time and sometimes it is also cost-efficient. Ehermes' is using linkages to improve the business process to effectively produce goods and services.

5 0
3 years ago
Other questions:
  • resented below is information from Perez Computers Incorporated. July 1 Sold $20,000 of computers to Robertson Company with term
    8·1 answer
  • You would expect a bond of an Eastern European government to pay interest rate as compared to a bond of the U.S. government. You
    14·1 answer
  • Which option best describes the main behavior that economics studies?
    9·1 answer
  • According to the lecture, which of the following is INCORRECT?A. The U.S.-Canadian border was set by agreement at 49* N latitude
    14·1 answer
  • Jill lives in a large metropolitan area. She is thinking about starting a senior citizen van service, where she will pick up sen
    9·1 answer
  • After widespread press reports about the dangers of contracting "mad cow disease" by consuming beef from Canada, the likely econ
    15·1 answer
  • An airline is considering a project of replacement and upgrading of machinery that would improve efficiency. The new machinery c
    9·1 answer
  • Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect
    8·1 answer
  • Terrance has just signed a contract with a bank to get a loan to buy a new house. What is TRUE about this contract? A. Both the
    15·1 answer
  • Which of the following represents an increase in labor productivity within a country? (1 point)
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!