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3 years ago

Mill Co.'s trial balance included the following account balances at December 31, Year 6:

Business

1 answer:

o-na [289]3 years ago

4 0

Answer:

D) $45,000

Explanation:

The computation of the amount which is included in the current liability section is shown below:

= Account payable balance + bonds payable - discount on bonds payable + dividend payable

= $15,000 + $25,000 - $3,000 + $8,000

= $45,000

The current liability is that liability which is arise for one year. Since, the notes payable is a long term liabilities so we do not consider in the computation part.

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During fiscal year-end 2016, Kohl’s Corporation reports the following (in $ millions): net income of $556, retained earnings at

nikitadnepr [17]

Answer:

c. $363 million

Explanation:

We can compute this easily by making a retained earning extract from the balance sheet at the closing date,

Opening Retained earnings $12,329

Add retained earnings for the year $556

Less: Dividends paid $363

Closing Retained earnings $12,522

Reverse calculating the information gives us c. $363 million

Hope that helps.

7 0

3 years ago

Novak Corporation amended its pension plan on January 1, 2020, and granted $152,280 of prior service costs to its employees. The

m_a_m_a [10]

Answer:

26762.74

Explanation:

Prior service cost amortization for 2020 can be calculated by first calculating the average time until the employee's retirement. After calculating the average time until retirement we will divide the service cost at that time

Workings

average time until retirment = 1880/330

average time until retirment = 5.69 years

prior service cost amortization for 2020 = $152,280/5.69

prior service cost amortization for 2020 = $26762.74

3 0

3 years ago

Which of the following illustrates Forward Vertical Integration? a. Subway sandwich company buying a bakery to make the bread fo

Shalnov [3]

Answer:

Explanation:

Vertical integration is when a firm acquires a business further in its production chain. For example, a sandwich company purchasing a bakery

4 0

3 years ago

You have just signed a contract for your rental property and you will make monthly payments at the beginning of each month. Your

Mekhanik [1.2K]

Answer:

$9,760.48

Explanation:

Present value of annuity due = P* [[1 - (1+r)^-(n-1)] / r] + P. Where P = Periodic payment = $1,000, r = Rate of interest per period 4% (0.48/12), n = number of payments 12 (12*1)

Present value of annuity = $1000 * [[1 - (1 + 0.04)^-(12-1)] / 0.04] + $1000

Present value of annuity = $1000*8.760475 + $1000

Present value of annuity = $8760.48 + $1000

Present value of annuity = $9,760.48

3 0

3 years ago

Over the course of 40 years, Sal grew his company to six package shipping stores. with his retirement approaching and the increa

Pavel [41]

Answer:

C. defensive strategy

Explanation:

Defensive strategy is been represented by the effort of Sal's reduction.

Basically in defensive strategy, the consumers and the customers are been hold-back by the companies and organisations. In this when competition increases the companies try to pull back their old customers from their competitors company.

In the scenario which is been represented in the question the Sal's company indulge's in the action that is known as defensive strategy.

7 0

3 years ago