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3 years ago

6

Which action can hurt your credit score? I. Paying your phone bill late. II. Taking the bus to work. III. Maxing out several cre

dit cards. IV. Using the internet to pay your bills

1 answer:

BartSMP [9]3 years ago

6 0

All of the above josehernandez2017!

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When the Writers Guild of America went on strike in 2007-2008, the union and studios met with a third party who helped continue

garik1379 [7]

Answer:

mediation

Explanation:

The Writers Guild of America and the film studios used a mediator when they started their negotiations. The mediator is an impartial third party that is present during the negotiations and tries to help both parties reach an agreement or settlement. The decisions taken by the mediator are not mutually binding so any party can accept or reject them. A mediator only helps to solve the problem, offers possible solutions, but shouldn't decide anything.

In order for the decisions taken by the third to be binding, the third party must be an arbitrator. In an arbitration process all parties involved must accept the decision of the arbitrator.

5 0

3 years ago

Bramble Corp. makes and sells widgets. The company is in the process of preparing its selling and administrative expense budget

Alexandra [31]

Answer:

$720,000

Explanation:

The total budgeted selling and administrative expenses is made up of both fixed and variable components. The variable component of the cost is dependent on the budgeted number of units to be sold.

Total variable cost budgeted

= 58000 ( $1 + $3 + $4 +$2)

= $580,000

Total fixed cost = $10,000 + $120,000 + $4,000 + $6,000

= $140,000

total budgeted selling and administrative expenses for October

= $580,000 + $140,000

= $720,000

5 0

3 years ago

Joe quits his computer programming job, where he was earning a salary of $65,000 per year, to start his own computer software

Verizon [17]

Answer:

The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.

Explanation:

The computation of the accounting cost and the economic cost is shown below:

Accounting cost = Other Expenses + Salary paid to himself

= $35000 + $40,000

= $75,000

Economic cost = Accounting cost + Salary expense + Rent expenses

= $75,000 + $65,000 + $25,000

= $165,000

8 0

4 years ago

Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 10

gogolik [260]

Answer:

1. See the attached excel file for the journal entries.

2. Ending balance of retained earning is $346,125

3.Total Stockholder's Equity is $1,616,125

Explanation:

1. Prepare journal entries to record each of these transactions.

Note: See the attached excel file for the journal entries.

The following are tge workings:

w.1: Treasury stock = $5,000 * $20 = $10,000

w.2: Dividend payable = (Issued and outstanding shares - Shares repurchase) * Dividend per share = (60,000 - 5,000) * $4 = 55,000 * $4 = $220,000

w.3: Cash = Number of shares sold * Selling price per share = 1,875 * $24 = $45,000

w.4 = Treasury stock = Number of shares sold * Treasury price per share = 1,875 * $20 = $37,500

w.5: Additional paid in capital = Number of shares sold * (Selling price per share - Treasury price per share) = 1,875 * ($24 - $20) = $7,500

w.6: Cash = Number of shares sold * Selling price per share = 3,125 * $17 = $53,125

w.7 = Treasury stock = Number of shares sold * Treasury price per share = 3,125 * $20 = $62,500

w.8: Balancing figure = Treasury stock (w.7) – Cash (w.7) - Additional paid in capital (w.5) = $62,500 - $53,125 - $7,500 = $1,875

w.9: Dividend payable = (Issued and outstanding shares * Dividend per share = 60,000 * $4 = $240,000

2. Prepare a statement of retained earnings for the year ended December 31, 2019.

Kohler Corporation

Statement of Retained Earnings

On December 31, 2019

<u>Particulars Amount ($) </u>

Opening balance 400,000

Income for the year 408,000

Dividend Paid (220,000 + 240,000) (460,000)

Loss on sale of treasury stock <u> (1,875) </u>

Ending balance <u> 346,125 </u>

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.

Kohler Corporation

Stockholder Equity Section of Balance sheet

At December 31, 2019

<u>Particulars Amount ($)</u>

Common stock issued ($20 * 60,000) 1,200,000

Paid-in capital in excess of par v - c. stock <u> 70,000 </u>

Total contributed Capital 1,270,000

Retained Earnings <u> 346,125 </u>

Total Stockholder's Equity <u> 1,616,125 </u>

3 0

4 years ago

Using the attached sheet (or a spreadsheet if you prefer), prepare a classified balance sheet for the ABC, LLC for the year ende

charle [14.2K]

Answer:

ABC, LLC

Classified balance sheet as at December 31, 2020

$

ASSETS

Non - Current Assets

Land 25,000

Total Non - Current Assets 25,000

Current Assets

Accounts Receivable 3,000

Cash 20,000

Total Current Assets 23,000

TOTAL ASSETS 48,000

EQUITY AND LIABILITIES

LIABILITIES

Non - Current Liabilities

Notes Payable (due in 5 years) 10,000

Total Non - Current Liabilities 10,000

Current Liabilities

Accounts Payable 4,000

Salaries Payable 5,000

Total Current Liabilities 9,000

TOTAL LIABILITIES 19000

EQUITY

Common Stock 1,000

Preferred Stock 8,000

Treasury Stock 6,000

Retained Earnings 7,000

Paid in Capital in Excess of Par - Common Stock 17,000

Paid in Capital in Excess of Par - Preferred Stock 2,000

TOTAL EQUITY 41,000

TOTAL EQUITY AND LIABILITIES 60,000

Explanation:

A classified balance sheet shows the Assets, Liability and Equity Balances in their respective categories as shown above.

8 0

3 years ago