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3 years ago

Midyear on July 31st, the Chester Corporation's balance sheet reported:

Business

1 answer:

erastova [34]3 years ago

6 0

Answer:

$76.856 million

Explanation:

As we know that Balance sheet is divided in two portions.

1. Total Assets (Current Assets + Fixed Assets)

2. Total Liabilities and Share Holders' Equity.

and they both should be equal. So we can write from the above information, as:

Total Assets = Total Liabilities + Total Common Stock + Retained Earnings

N.B. We are excluding Cash from our calculation cause we assume that Cash is already been included in Total Assets.

Hence, by putting the values in above equation we can find our Retained Earnings as:

Retained Earnings + $128.230 million + $6.350 million = $211.436 million

Retained Earnings + $134.58 million = $211.436 million

Retained Earnings = $211.436 million - $134.58 million

Retained Earnings = $76.856 million

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Determine which of the following statements is correct regarding the relationship of ending inventory and beginning inventory.

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The ending inventory of the previous period is the beginning inventory of the current period.

Beginning inventory is the amount of a product. A commercial enterprise has in stock at the start of an accounting length which includes a month or 12 months. due to the fact each accounting length connects to the subsequent, the beginning inventory of one length will be similar to the ending inventory of the previous.

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Southern Wear stock has an expected return of 15.1 percent. The stock is expected to lose 8 percent in a recession and earn 18 p

kari74 [83]

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15.26%

Explanation:

Given:

Expected return = 15.1% = 0.151

Expected loss in recession = - 8% = - 0.08 [negative sign depicts loss]

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