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3 years ago

8

Which type of financial statement should you look at if you want to see a company's profits and losses over a specific period of

time? A. Income statement B. Balance sheet C. Statement of owners' equity D. Cash flow statement

2 answers:

Tju [1.3M]3 years ago

4 0

I believe the answer is D

vivado [14]3 years ago

3 0

The answer is an income statement (A)

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Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard b

soldi70 [24.7K]

Answer:

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

Explanation:

Giving the following information:

Ferrier Chemical Company makes three products, B7, K6, and X9, which are joint products from the same materials. In a standard batch of 150,000 pounds of raw materials, the company generates 35,000 pounds of B7, 75,000 pounds of K6, and 40,000 pounds of X9. A standard batch costs $600,000 to produce.

weighted average:

B7= 35,000/150,000= 0.23

K6= 75,000/150,000= 0.5

X9= 40,000/150,000= 0.27

Allocated cost:

B7= 0.23*600,000= 138,000

K6= 0.50*600,000= 300,000

X9= 0.27*600,000= 162,000

8 0

3 years ago

Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's t

anzhelika [568]

Answer:

8.94%

Explanation:

Firstly, we will need to find total equity and total debt of Harrington Inc inorder to apply the Dupont equation for getting ROE

Harrington's total debt = 15.00 % × $250,000

= $37,500

Harrington's total equity will be; applying accounting equation

Asset = Liabilities + Owner's equity

Owner's equity = Assets - Liabilities

= $250,000 - $37,500

= $212,500

Therefore, using the Dupont equation, we can calculate the ROE as;

(NI/Sales) × (Sales/Total assets) × (Total assets/Total common equity)

= 19,000/325,000 × 325,000 /250,000 × 250,000/212,500

= 8.94%

7 0

3 years ago

Identify and explainthe benefits and problems associated with high economic growth

frozen [14]

Answer:

Kindly check explanation

Explanation:

High economic growth is usually the aim of several economic policies whichnmost countries try to employ. The reason for this is no other than the numerous benefits attached to it which includes;

Increase in GDP : With growth in the economy of a country, trading within and outside these countries will rise, leading to increase in revenue earned and hence, the gross domestic product. This will pave the way for :

Infrastructural development : The development of infrastructure and standard society will be on the horizon as the economy grows. There is enough capital to embark on infrastructural development which will serve the populees

Other benefits include ; Trade and investment opportunities ; Increase in foreign direct investment and employment level will increase.

High economic growth also has it's drawbacks which include ;

Higj Immigration level ; Businesses and individuals are always on the lookout for areas with good investment opportunity in which an high income society is usually a main target. With increasing immigration, overcrowding may result.

Also, Investment cost may begin to rise, coupled with increase in foreign investment influx, the local market may be at risk of being able to compete.

5 0

3 years ago

Ann works 5 1/2 hours, Mary works 6 1/3 hours, and John works 4 1/4 hours. How many combined hours have they worked?

Luden [163]

16 1/12 hours. To make it easier add up all the whole numbers first then find the common denominator, which is 12. Turn all the fractions into fractions with the denominator of 12 add those up and you shall get 16 1/12.

5 0

3 years ago

A note payable was executed by Sterling Inc. to Miami Finance Company. Sterling Inc. used $768,000 of its accounts receivable as

denpristay [2]

Answer:

See all the entries below.

Explanation:

a. Record the entry for Sterling to record the secured borrowing.

The entries will look as follows:

<u>Account Name Debit ($) Credit ($) </u>

Cash (768,000 * 85%) 652,800

Note Payable 652,800

<em><u>(To record the secured borrowing.) </u></em>

b. Record the entries for Sterling to record (1) the collections and (2) the payment to Miami for the first month.

The entries will look as follows:

<u>Account Name Debit ($) Credit ($) </u>

Cash 504,320

Refund Liability 20,480

Accounts Receivable 524,800

<u><em>(To record collection on receivables for first month.) </em></u>

Interest Expense 4,480

Note Payable 499,840

Cash 504,320

<u><em>(To record payment to Miami for the first month.) </em></u>

c. Record the entries for Sterling to record (1) the collections for the second month and (2) the final payment to Miami.

The entries will look as follows:

<u>Account Name Debit ($) Credit ($) </u>

Cash 238,080

Allowance for Doubtful Debt 5,120

Accounts Receivable (w.1) 243,200

<u><em>(To record collection on receivables for second month Interest.) </em></u>

Expense 1,920

Note Payable 151,040

Cash (w.2) 152,960

<u><em>(To record final payment to Miami.) </em></u>

Workings:

w.1: Accounts Receivable = Amount of accounts receivable as collateral – Cash received from customer = $768,000 - $524,800 = $243,200

w.2: Cash = Loan - First payment for principal = $652,800 - $499,840 = $152,960

3 0

3 years ago