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Pavlova-9 [17]
3 years ago
5

3.1 Balance sheet: Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30, 2

017. On that date the firm had cash and marketable securities of $25,135, accounts receivable of $43,758, inventory of $167,112, net fixed assets of $325,422, and other assets of $13,125. It had accounts payables of $67,855, notes payables of $36,454, long-term debt of $223,125, and common stock of $150,000. How much retained earnings did the firm have
Business
1 answer:
denis23 [38]3 years ago
5 0

Answer:

Retained earnings is  $97,118.00  

Explanation:

The retained earning is the difference between the total assets on one side and the total of liabilities plus common stock on the other hand.

In the balance sheet, the retained earnings in the balancing figure between the assets side and the liabilities side

Download xlsx
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What two ingredients provide the structure in conventional baked goods?
Natalija [7]
The answer is wheat flour and gluten.
5 0
3 years ago
What action is most likely to result in an increase in the money supply
gregori [183]

Answer:

Lowering interest rate.

Explanation:

When the FED lower the interest rate to banks, they obtain extra capital that can be invested in new businesses, offer more loans that will increase the money supply in the market.  

3 0
4 years ago
why is currency held by the u.s. treasury, the federal reserve banks, commercial banks, and thrift institutions excluded from m1
Andrew [12]

The u.s. treasury, the federal reserve banks, commercial banks, and thrift institutions excluded According to the question, the "federal reserve system" is the organisation in charge of controlling the nation's money supply.

The central banking system of the United States of America is said to have a variety of duties to carry out. The main duties include keeping an eye on financial institutions, controlling the amount of money in the economy, acting as the government of the United States' fiscal agent, etc. As a result, its main goal is to ensure the financial and monetary systems are secure, flexible, and stable.A commercial bank purchases a Treasury bond from the Federal Reserve for $100,000. the amount of money available could rise by $100,000.The Federal Reserve buys and sells government assets to control interest rates and the availability of money. This activity is classified as open market activities.

To know more about U.S treasury visit:

brainly.com/question/29485988

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8 0
2 years ago
Latoya as 50 shares of stock in ABC company worth $35.75 a share, a car worth about $5,600, and a collection of figurines worth
patriot [66]

Answer:

$ 9,387.50

Explanation:

An asset is any item that the owner considers valuable.

Shares , the cars and figurines are assets as Latoya can attach a value to them.

Total value of the shares = 50 x 35.75 = 1, 787.5

Value of the car = $5,600

Figurines = $ 2,000

Total value of assets = 1,787.50+ $5,600 + $2,000

=$ 9,387.50

8 0
4 years ago
Mrs. Brown is a lawyer, specialized in common-law and she
jeka57 [31]

Mrs. Brown has to follow the provincial law regime.

<u>Explanation:</u>

  • The basic difference between federal and provincial law is that federal law or the federal government enacts laws and legislation for all the state of the country while provincial laws are those laws that are for the specific province or state. Furthermore, the Federal government has the authority to enact criminal laws and enactments while the provincial law has got no such authority.
  • The Canadian Federal Government is solely responsible for making laws and legislation that covers and impacts the entire country while the provincial government has the authority to make enactments which directly impacts and concerns their territory. The federal laws concern laws governing the national interest of the country including national defense, criminal law, and national postal services while health care, public education, and highways are part of provincial government legislation.  
  • In the given question, Mrs. Brown who is a lawyer by profession wants to create a company to operate her business activities in all provinces and territories - this is a situation which requires provincial law to be implemented since it concerns the business formation and it's operation for an individual and hence doesn't concerns the national interest of the country.  
7 0
4 years ago
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