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iren2701 [21]
3 years ago
5

Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 20

19, the owner invested $33,000 additional cash in the business (in exchange for common stock) and the company paid a $36,000 cash dividend.
Equity, December 31, 2018
Equity, December 31, 2019
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019.
December 31 2018 2019
Cash $55,530 $10,900
Accounts receivable 30,142 23,632
Office Supplies 4,755 3,483
Office equipment 145,958 155,473
Trucks 57, 115 66, 115
Building 0 190, 398
Land 0 47,511
Accounts payable 79,245 39,303
Note payable 0 137,909
Business
1 answer:
satela [25.4K]3 years ago
7 0

Answer:

net income during 2019 = $109,045

Explanation:

total stockholder equity 2018 = assets - liabilities = $293,500 - $79,245 = $214,255

total stockholder equity 2019 = assets - liabilities = $497,512 - $177,212 = $320,300

change in equity from 2018 to 2019 = $106,045

$33,000 can be explained by additional capital invested, and the remaining  $73,045 corresponds to change in retained earnings

change in retained earnings = net income - dividends distributed

$73,045 = net income - $36,000

net income = $109,045

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Nataly [62]

With a organizational structure groups that are performing similar tasks may be at risk of duplicating their work and they may also compete for shared resources is in the divisional structure.

In a divisional structure, many teams work alongside each other toward a single, common goal. Each of these divisions has an executive manager  who manages how that branch operates, controls its budgets and allocates its resources.

Large companies do generally employ divisional structure because they have different divisions.

One example of the divisional structure is a car company which separates its company into SUV or sedan vehicle branches. While each branch has its own function, they all work toward the same goal of making a sale. This is known as the multi-divisional structure.

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3 0
2 years ago
Stallman Company took a physical inventory on December 31 and determined that goods costing $275,260 were on hand. Not included
Tpy6a [65]

Answer:

Inventory at year-end: 344,000

Explanation:

The inventory should add the purchased goods from Pelzer as the possesion is transfer at shipping point.

The sales units to Alvarez should also be included as teh transfer is not complete yet. The term on this transaction are at destination.

Total inventory in transit: 28,940 + 39,800 = 68,740‬

on hand:   $   275,260

in-transit:  $<u>     68, 740  </u>

Total:         $  344,000

5 0
3 years ago
A design engineer wants to construct a sample mean chart for controlling the service life of a halogen headlamp his company prod
andreyandreev [35.5K]

Answer:

C) 515 hours

Explanation:

The mean is the central value of set of numbers.

It is calculate by adding all the values together and then, divide by the quantity of items

 ∑ x

--------

  n

∑ =525 + 515 + 505 + 515 = 2,060

now we divide this value by the total number of items. Notice we take four headlamps so we divide by tis amount:

Mean = 2,060 / 4 = 515

3 0
3 years ago
The Constitution sets forth specific powers that can be exercised by the national government and provides that t national govern
g100num [7]

The Constitution sets forth specific powers that can be exercised by the national government and provides that the national government has the implied power to undertake actions necessary to carry its expressly designated powers under the Tenth Amendment, all other powers are expressly reserved to <u>the states</u>.

<u>Option: B</u>

<u>Explanation:</u>

The given points are showcasing the federal power, which act as rights within a federal government structure that are totally or conditionally excluded from the operation of each representative political entity. That is, either a local political entity can never practice such powers, or can do so only with the federal government's permission.

The United States' 10th Amendment Constitution interprets that the powers not granted by the Constitution to the United States, nor forbidden by it to the States, are secured for the States, or the individual, accordingly. This Amendment was adopted in 1791, incorporates Federalism's basic values in a parliamentary system of Government.

3 0
3 years ago
On January 1, Wei company begins the accounting period with a $42,000 credit balance in Allowance for Doubtful Accounts.
Ugo [173]

Answer:

Wei company General Journal

Feb 01

Dr Allowance for doubtful accounts $9,200

Cr Accounts receivable—Oakley Co. $2,100

Cr Accounts receivable—Brookes Co. $7,100

June 05

Dr Accounts receivable—Oakley Co. $2,100

Cr Allowance for doubtful accounts $2,100

June 05

Dr Cash $2,100

Cr Accounts receivable—Oakley Co. $2,100

Explanation:

Feb 01

(To record write off accounts receivables)

June 05

(To record reinstatement accounts receivable)

June 05

(To record receipt from accounts receivable)

7 0
4 years ago
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