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mixas84 [53]
3 years ago
15

Analysis of the Impact of Adjustments on Financial Statements At the end of the first month of operations, the Stephan Company’s

accountant prepared financial statements that showed the following amounts: Assets $60,000 Liabilities 20,000 Stockholders' Equity 40,000 Net Income 9,000 In preparing the statements, the accountant overlooked the following items: a. Depreciation for the month. $925 b. Service revenue earned but unbilled at month-end. 1,500 c. Employee wages earned but unpaid at month-end. 410 Determine the correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month. Assets Liabilities Stockholders' Equity Net Income Answer Answer Answer Answer
Business
1 answer:
matrenka [14]3 years ago
6 0

Answer:

Explanation:

The correct amounts are shown below:

1. Assets =  Asset balance - depreciation + service revenue

               = $60,000 - $925 +  $1,500

               =  $60,575

2. Liabilities = Liabilities balance + employees wages earned

                    = $20,000 + $410

                    = $20,410

3.  Stockholders' Equity = Equity balance - depreciation + service revenue - employees wages earned

                                        = $40,000 - $925 + $1,500 - $410

                                        = $40,165

4.  Net Income = Net income balance - depreciation + service revenue - employees wages

                        = $9,000 - $925 + $1,500 - $410

                        = $9,165

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The ________ is the difference between merchandise imports and exports and a measure of a country's international trade in goods
Levart [38]

Answer:

balance of trade

Explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

In Economics, a balance of trade is a measure of the difference between merchandise imports and exports, as well as a country's international trade in goods. Thus, it's a measure of the difference between the monetary value of the import and export of goods of a country over a specific period of time.

3 0
3 years ago
What is one reasons why mixed economies exist?
Snowcat [4.5K]

<u>Answer:</u>

<em>Mixed economics places some limits on the safety of society. </em>

<em></em>

<u>Explanation:</u>

As the name infers, a mixed economy is a type of framework where all exercises underway, just as those performed by private and government substances, mix free enterprise with different sorts of regulations. Both the general population and individual parts can work similarly, which implies that financial advancement will be speedier.

This is particularly evident, thinking that financial assets will be used effectively. Additionally, the consumption of assets will be backed off. What's more, the legislature would likewise attempt to build up every division of the population.

3 0
2 years ago
Read 2 more answers
Fixed costs remain constant at​ $400,000 per month. During highminusoutput months variable costs are​ $320,000, and during lowmi
vladimir2022 [97]

Answer:

The answer is  B. ​$45.00 per​ hour; $120.00 per hour

Explanation:

highminusoutput

Fixed costs       400000/16000= $25

variable costs   320000/16000= $20

Total                                           <u>=$45</u>

<u />

lowminusoutput

Fixed costs        400000/4000  = $100

variable costs    80000/4000  = $20

Total                                           =<u>$120</u>

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3 years ago
Which of the following types of brands is most likely to be recognized by its logo?
irga5000 [103]
Https://thelogocompany.net/blog/logo-design/type-logo/

maybe it might help, haven't u seen anything in your lesso that can help?
5 0
3 years ago
_____________A measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. It co
Fantom [35]

Answer:

consumption utility

Explanation:

Consumption utility is a measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. Consumption means using up of utilities. For example – when we take a glass of water to quench our thirst, we are said to consume water.  Whenever we make use of any commodity or service for the satisfaction of our wants, the act is called consumption.  Therefore, by consumption we mean the satisfaction of our wants by the use of commodities and services. Economic analysis of household behavior is based on the assumption that people seek the highest level of utility or satisfaction. Individuals are the only judge of their own utility. In general, greater consumption of a good brings higher total utility. However, the additional utility received from each unit of greater consumption tends to decline in a pattern of diminishing marginal utility.  The utility-maximizing choice on a consumption budget constraint can be found in several ways .

8 0
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