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3 years ago

If Baldwin issued 1000 shares of common stock at last year's end price, the effect on the balance sheet would be:________

Business

1 answer:

natta225 [31]3 years ago

5 0

Answer:

d) Equity would increase by $63,228

Explanation:

We are not given any information about stock prices, but we do not need them. Whenever new common stocks are issued, stockholders' equity will increase (always).

Retained earnings are affected by net income and dividends:

net income increases retained earnings
dividends decrease retained earnings

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Question 10 plagiarism is committed when a writer takes _____ from another source (internet, textbook, another student's work) a

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Read 2 more answers

Lance’s Diner has a hot-lunch special each weekday and Sunday afternoon. The cost of food and other variable costs for each meal

Bumek [7]

Answer:

(a) $700

(b) $5.50

Explanation:

Weekly fixed costs = $6,000

Weekly Total meals = Average customers per day × No. of days

= 500 × 6

= 3,000

Fixed cost per meal = Weekly fixed costs ÷ Weekly Total meals

= $6,000 ÷ 3,000

= $2

(a) Lowest price in total = Number of customers × Variable costs for each meal

= 200 × $3.50

= $700

(b) Lowest price = Variable costs for each meal + Fixed cost per meal

= $3.50 + $2

= $5.50

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3 years ago

Sandra Sousa, Registered Dietician Trial Balance July 31, 2018 Balance Account Title Debit Credit Cash 33000 Accounts Receivable

kirza4 [7]

Answer:

Requirement 1. Prepare the income statement for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Income Statement

For the Month Ended July 31, 2018

Service Revenue $11,258

Salaries Expense -$1,500

Rent Expense -$1,200

Utilities Expense -$350

Net income $8,208

Requirement 2. Prepare the statement of owners equity for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Statement of Owner's Equity

For the Month Ended July 31, 2018

Sousa, Capital balance July 1, 2018 $22,000

Investment during month $0

Net income $8,208

subtotal $30,208

Withdrawals during the month -$2,000

Sousa, Capital balance July 31, 2018 $28,208

Requirement 3. Prepare the balance sheet &s of July 31, 2018.

Sandra Sousa, Registered Dietitian

Balance Sheet

For the Month Ended July 31, 2018

Assets:

Cash $33,000

Accounts Receivable $9,600

Office Supplies $2,200

Prepaid Insurance $2,800

Equipment $18,000

Total assets $65,600

Liabilities and equity:

Accounts Payable $3,100

Unearned Revenue $292

Notes Payable $34,000

Sousa, Capital $22,000

Retained earnings $6,208

Total liabilities and equity $65,600

Requirement 4. Calculate the debt ratio as of July 31, 2018.

debt ratio = liabilities / assets = $65,600 / $37,392 = 175.44%

debt to equity ratio = liabilities / equity = $37,392 / $28,208 = 132.56%

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3 years ago

A company began developing computer software to be sold as a separate product on January 1, year 1. During the planning, coding,

svetlana [45]

Answer:

The sofware-relate cost to capitalized will be 1,300,000

Explanation:

The cost than a business can capitalize will stop once the testing phase is complete.

The production cost, are cost of the period. It will not be capitalize through intangible asset software.

Post-implementation. The cost after the implementation of the software will be treated as expenses. The 275,000 maintenance and customer support will not be capitalized. It will be treated as expense

The software amount will be 1,300,000 which is the value of the cost incurred in the testing phases

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3 years ago