3 years ago

Suppose nanospeck, a biotechnology firm, is selling bonds to raise money for a new lab—a practice known as

1 answer:

8 0

The practice of selling bonds to raise money is called EQUITY.
Equity is a stock that represents an ownership interest in a company. Buying an equity from a company will give one partial ownership of that company. In future if the company want to close down, the stockholders will be paid first.<span />

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A manufacturing company applies factory overhead based on direct labor hours. at the beginning of the year, it estimated that fa

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Answer:

The amount of underapplied manufacturing overhead at the end of the year is $1200.

Explanation:

Total estimated $360,000/est

direct labour hours 45000 = $8x (Actual Dl hours) 47000

= $376,000

Actual Overhead worked = $377,200 - $376,000

= $1200 underapplied

Therefore, The amount of underapplied manufacturing overhead at the end of the year is $1200.

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On July 1 of the current year, the assets and liabilities of Wong Industries, are as follows: Cash, $15,000; Accounts Receivable

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Answer:

C. $56,700

Explanation:

From the accounting equation which shows the relationship between the elements of a balance sheet namely;asset, liabilities and equity.

Asset = liabilities + equity

Total assets = $15,000 + $12,300 + $3,100 + $35,000 = $65,400

Total liabilities = $8,700

Stockholders’ equity = $65,400 - $8,700

= $56,700

The stake of the owners of the company is $56,700

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3 years ago

Reporting the details of notes is consistent with which accounting principle that requires financial statements (including footn

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Answer:

The correct answer is Option B.

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The full disclosure principle is a concept that requires all necessary details relating to the notes to the financial statements are provided and explained in such a way that would be understandable to the users of the financial statements.

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