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elena-14-01-66 [18.8K]
2 years ago
6

Compute and select the correct common-size percent for each account title.Total Assets is $700,000 Accounts Payable is $75,000 B

onds Payable is $225,000 Common Stock is $300,000 Retained Earnings is $100,000
Business
1 answer:
Arisa [49]2 years ago
3 0

Answer and Explanation:

The computation for each corrected common-size percent for each account is shown below:

Particulars             Amount                  Percentage

Total assets           $700,000                    100%

Accounts payable $75,000                      10.71%

                                                       ($75,000 ÷ $700,000)

Bonds payable      $225,000             32.14%

                                                       ($225,000 ÷ $700,000)

Common stock      $300,000            42.86%

                                                         ($300,000 ÷ $700,000)

Retained earnings $100,000             14.29%

                                                  ($100,000 ÷  $700,000)

Therefore each one of assetm liabilities and stockholder equity is presented as a percentage of total assets and the same is to be considered

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Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information
alekssr [168]

Answer:

Ending cash balance $6,300

Explanation:

The preparation of the Cash Flows Statement is presented below:

Cash flow from Operating Activities

Add: Service revenue earned        $5,000

Less: Office Rent                           -$1,400

Less: Employees salaries             -$1,200

Less: Utilities                                 -$300

Net cash flow provided by Operating Activities $2,100

Cash flow from Investing Activities

Less: Purchase of land $19,900

Net cash used by Investing Activities -$19,900

Cash flow from Financing Activities

Add: Issuance of common stock $7,800

Less: Dividend paid                      -$2,300

Net cash flow provided by Financing Activities $5,500

Net rise or decrease in cash is

Net cash flow provided by Operating Activities $2,100 (A)

Net cash used by Investing Activities -$19,900 (B)

Net cash flow provided by Financing Activities $5,500 (C)

Decrease in cash -$12,300   (A + B + C)

Add: Beginning cash balance   $18,600

Ending cash balance $6,300

4 0
2 years ago
What is the maximum age a taxpayer with no qualifying children may be at the end of the year and still qualify for the earned in
MatroZZZ [7]

Answer:

The correct answer is: 65 years old.

Explanation:

The Earned Income Tax Credit (<em>EITC</em>) is provided to people with low income. The amount of that income and the number of people within their household will determine the amount of the tax credit. People with no children can also be eligible for the credit until they are 65 years old by the end of the tax period.

8 0
3 years ago
The subject property has a total value of $280,000 by the sales comparison approach. A competitive neighborhood nearby has home
True [87]

The value of the subject land is $84,000.

Given,

75,000 / 250,000 = 0.30

280,000 * 0.30 = 84,000

Land value is the measure of the way lots a plot of land is worth, now not counting any buildings but including improvements inclusive of better drainage. when a landowner can pay taxes on her actual property, a part of what is taxed is the fee of the land, in addition to whatever structures sit down atop it.

To measure the price of land use the traditional value approach: Use RS means statistics on prices to calculate the fee of the belongings as though it has been new. Subtract depreciation. The result is an estimate of the fee of the modern structure. Subtract from sale fee to get land cost.

<em />

<em>Your question is incomplete. Please read below to find the missing content.</em>

The subject property has a total value of $280,000 by the sales comparison approach. A competitive neighborhood nearby has home sales with a median value of $250,000, and recent lot sales at $75,000. By allocation, what would be the value of the subject land?

$68,000

$76,000

$84,000

$92,500

Learn more about statistics here: brainly.com/question/4219149

#SPJ4

5 0
2 years ago
A woman walks into a store and steals $100 she comes back and buys $70 worth of goods with the $100, the owner gives her$30 in c
deff fn [24]
The answer is $100.

Amount she steals= $100
Amount she bought goods= $70
Amount the owner returns as change = $30
Amount owner loses=?

Amount she steals +amount of goods - amount she gives to owner + amount owner returns as change = $100 + $70 - $100 + $30 = $200 - $100 = $100
8 0
3 years ago
Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: (If no en
den301095 [7]

Answer:

Please see answer in explanatory column

Explanation:

Journal for  Budgetary entries

a) Anticipated revenues are $11.8 million; anticipated expenditures and encumbrances are $8.0 million

Account                                        Debit                Credit

Estimated Revenue control  $11,800,000

Appropriation control                                            $8,000,000    

Budgetary fund                                                      $3,800,000

Calculation

Budgetary fund = Estimated Revenue control  $11,800,000-

Appropriation control   $8,000,000 = $3,800,000        

b)Anticipated revenues are $8.0 million; anticipated expenditures and encumbrances are $9.4 million.

Account                                        Debit                Credit

Estimated Revenue control   $8,000,000

Budgetary fund                        $1,400,000

Appropriation control                                            $9,400,000

Budgetary fund = Estimated Revenue control  $8,000,000-

Appropriation control   $9,400,000 = -$1,400,000  , therefore will be debited

c)Anticipated revenues are $9.4 million; anticipated transfers from other funds are $1.6 million; anticipated expenditures and encumbrances are $8.0 million; anticipated transfers to other funds are $0.7 million

Account                                          Debit                             Credit

Estimated Revenue control         $9,400,000

Estimated other finance source control$1,600,000

Appropraition control                                                 $8,000,000

Estimated other finance source control                     $700,000

Budgetary fund                                                            $2,300,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control=  $9,400,000 +$1,600,000)- $8,000,000 + 700,000 ) = 11,000,000 - $8,700,000 =$2,300,000  

d)Anticipated revenues are $8.6 million; anticipated transfers from other funds are $1.1 million; anticipated expenditures and encumbrances are $9.7 million; anticipated transfers to other funds are $1.0 million.

Account                                          Debit                             Credit

Estimated Revenue control           $8,600,000

Estimated other finance source control$1,100,000

Budgetary fund                                    $1,000,000

Appropraition control                                                 $9,700,000

Estimated other finance source control                     $1,000,000

Budgetary fund = Estimated Revenue control +Estimated other finance source control) -Appropriation control + Estimated other finance source control=  $8,600,000 +$1,100,000)- $9,700,000 + 1,000,000 ) = 9,700,000 - $10,700,000 =-$1,000,000  so will be debited

4 0
3 years ago
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