1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Travka [436]
3 years ago
11

The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed f

orm: Year 2 Year 1 Assets Cash $45,000 $53,500 Accounts receivable (net) 51,300 58,000 Inventories 147,200 135,000 Investments 0 60,000 Equipment 493,000 375,000 Accumulated depreciation—equipment (113,700) (128,000) Total Assets $622,800 $553,500 Liabilities and Stockholders' Equity Accounts payable $61,500 $42,600 Bonds payable, due Year 4 0 100,000 Common stock, $10 par 250,000 200,000 Paid-in capital in excess of par—common stock 75,000 50,000 Retained earnings 236,300 160,900 Total liabilities and stockholders' equity $622,800 $553,500 The income statement for the current year is as follows: Sales $629,700 Cost of goods sold 341,800 Gross profit $287,900 Operating expenses: Depreciation expense $24,700 Other operating expenses 75,300 Total operating expenses 100,000 Income from operations $187,900 Other income: Gain on sale of investment $5,000 Other expense: Interest expense 12,000 (7,000) Income before income tax $180,900 Income tax 64,100 Net income $116,800 Additional data for the current year are as follows: a. Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000. b. Bonds payable for $100,000 were retired by payment at their face amount. c. 5,000 shares of common stock were issued at $15 for cash. d. Cash dividends declared were paid $41,400.

Business
1 answer:
Sophie [7]3 years ago
8 0

Answer:

Kindly check attached picture

Explanation:

Kindly check attached picture for detailed statement using the direct method

You might be interested in
Use the three-step demand-supply analysis discussed in class to analyze changes to the equilibrium price, and quantity in the ca
Ghella [55]

A new computer chip affects the supply curve only.

Demand-supply is an economic version of price determination in a market. It postulates that preserving all else identical, in an aggressive market, the unit price for a specific appropriate, or other traded item which includes hard work or liquid financial property, will range till it settles at a point in which the quantity demanded (at the modern price) will same the quantity supplied (on the modern-day price), ensuing in an economic equilibrium for rate and quantity transacted.

Equilibrium is a scenario wherein economic forces consisting of delivery and demand are balanced and in the absence of outside impacts the values of economic variables will no longer alternate.

Philosophical analysis is any of various techniques, typically used by philosophers in the analytic culture, to be able to "damage down" philosophical problems. Arguably the maximum prominent of those techniques is the evaluation of concepts.

Learn more about Demand-supply here: brainly.com/question/4804206

#SPJ4

7 0
1 year ago
Which of the following statements is true in the context of selecting the best alternative? a. The decision maker can only selec
Assoli18 [71]

Answer:

d. The decision maker must only stick to completely rational, mathematical analysis while selecting an alternative.

Explanation:

It is most ideal for a decision maker to stick to completely rational way of selecting an alternative as this means that the decision maker will only make choices that will be of maximum benefits and low costs. Factors such as personal feelings, or sense of obligation do not interefere when a decision maker sticks to completely rational and mathematical analysis method of decision making.

7 0
3 years ago
Match each term on the left with the best definition on the right. Note: Not all definitions will be used. A detailed record of
Masteriza [31]

Answer:

the answer is the 1st with the 3rd 2nd with the 1st 3th with the 4th and4th with 2nd

Explanation:

i think

7 0
2 years ago
The only expenses that can be reduced in order to produce more savings are ""Non-essential Expenses"" and ""Essential (Variable)
Y_Kistochka [10]

Answer:

The statement is false

Explanation:

Non- essential expense is the expense which is spent on the extra things, which means it is not essential to meet the needs. Whereas the essential expense are those expenses which are spend on consuming the things required for living. For example food, cloth.

So, both the expenses are those expense which are necessary for an individual or person and therefore, cannot be reduced in order to produce the more savings.

8 0
3 years ago
Read 2 more answers
In this statement, which type of spending is President
sineoko [7]

<u>Answer: </u>Option 2 discretionary

<u>Explanation:</u>

Spending can be mandatory spending or discretionary spending. Mandatory spending means the spending on essentials goods such as food. Discretionary spending means the spending on recreation and entertainment where people have additional money in hand after meeting their necessary expenses.

In this speech Obama speaks about the non essential expenses when they are controlled more investments can be made. He says when all the departments cut down their discretionary expenses then can result in economic growth.

7 0
3 years ago
Read 2 more answers
Other questions:
  • Which of the following is not a prohibited escrow-related activity? An escrow agent cannot disburse a real estate broker's commi
    5·1 answer
  • Whats the importance of an organized workstation
    15·2 answers
  • Ben made some resolutions at the beginning of the new year. He read his resolutions out loud to his friends. Which of Ben’s reso
    7·2 answers
  • A monopoly is a market for a good or service that
    12·1 answer
  • _____ refer to all of the opportunity costs of using resources that belong to the firm.
    11·1 answer
  • One explanation for the increase in the price of theBaltimore newspaper is the increase in the cost of newsprint. This would cau
    5·1 answer
  • 8-12 Value of a Preferred Stock A preferred stock from Hecla Mining Co. (HLPRB) pays $3.50 in annual dividends. If the required
    12·1 answer
  • Twinkies on the shelf of a convenience store lose their fresh tastiness over time. We say that the taste quality is 11 when the
    14·1 answer
  • When consumers believe that various items provide the same set of attributes, brand _________ results.
    12·1 answer
  • The direct income capitalization model employs …………. time horizon: ________
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!