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3 years ago

The plant assets section of the comparative balance sheets of Anders Company is reported below.

Business

1 answer:

kobusy [5.1K]3 years ago

8 0

Answer:

Cash Anders received from the sales of equipment was $37,000

Explanation:

The equipment with a book value of $40,000 and an original cost of $210,000 was sold at a loss of $3,000

In Anders Company

The carrying amount of the equipment = book value of equipment = $40,000

The equipment was sold at a loss of $3,000. Therefore:

The carrying amount of the equipment - Sales price (Cash Anders received from the sales) = $3,000

Cash Anders received from the sales = The carrying amount of the equipment - $3,000 = $40,000 - $3,000 = $37,000

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Novak Corp. began the year with retained earnings of $124000. During 2022, the company issued $80000 of common stock for cash. T

Assoli18 [71]

Answer:

$100,000

Explanation:

Novak's net income for the year will be = Total Revenue generated - Total expenses incurred

For the year 22000;

Revenue generated:

Retained earning = $124,000

Company recorded revenues for year 22000= $728,000

Total Revenue = $124,000+$728,000

Total revenue = $852,000

Expenses incurred:

Common stock for cash issued = $80,000

Expenses = $637,000

Paid dividend = $35,000

Total expenses incurred = $80,000+$637,000+$35,000

= $752,000

Net income = $852,000 - $752,009

Net income = $100,000

Novak's net income for the year 2022 is $100,000

4 0

3 years ago

Read 2 more answers

If the acceptance strategy is used to handle every vulnerability in the organization, its managers may be unable to conduct proa

vivado [14]

Answer:

True

Explanation:

This is true since acceptance strategy is a risk management technique in which small risks with little impacts on the organization are identified but not curtailed just because the impacts of such identified risks are not beyond what the company can bear.

Thus, possibly rendering the managers unable to conduct proactive security activities and portray an apathetic approach to security in general.

3 0

3 years ago

Which of the following was the fourth leading cause of deaths in the construction industry in 2005? A. Being struck by something

artcher [175]

I think the correct answer from the choices listed above is option D. The fourth leading cause of deaths in the construction industry in 2005 would be getting <span>caught or between two objects. Number one would be due to falls. Hope this answers the question. Have a nice day.</span>

7 0

3 years ago

Adjusting entries.

Dafna11 [192]

Answer:

Inventory $7,350 (debit)

Trading Account - 2012 $7,350 (credit)

Inventory $22,150 (debit)

Trade Payable $22,150 (credit)

Write down of Inventory $20,690 (debit)

Inventory $20,690 (credit)

Note Receivable $20,000 (debit)

Bank $20,000 (credit)

Rent Prepaid $12,000 (debit)

Bank $12,000 (credit)

Explanation:

Being Inventory on hand at begining of the year

Being Inventory supplies acquired.

Being inventory written down after physical count.

Inventory = $7,350 + $22,150 - $8,810 = $20,690

Being Note received from a customer

Being Rent for 1 year received in advance

3 0

3 years ago

Suppose that when good J is free, buyers will demand 100 units of it, but the quantity demanded falls by 5 units for every $2 in

Bond [772]

Answer:

$16

Explanation:

At $0, demand is 100units.

but for every $2 increase, there is a 5 unit decrease.

When the demand is fixed at 60 units, let price of good J be x

Firstly, we calculate the difference between 100 units and 60 units

we have, 100 - 60 = 40 units

For every $2, increase, demand is minus 5.

thus we calculate how many 5 units there are in 40 units.

we have 40 units ÷ 5 units = 8

SInce every +$2 causes -5 units, we have the price of good J at 60 units fixed demand to be 8 x $2 = $16.

It means at $16, the demand of good J is 60 units.

Alternatively, you could do this,

At $0, demand is 100 units

At $2 (0 + 2), demand is 95 units (100-5)

At $4 (2+2), demand is 90 units (95-5)

At $6 (4 + 2), demand is 85 units (90-5)

At $8 (6 +2), demand is 80 units (85-5)

At $10 (8 + 2), demand is 75 units (80-5)

At $12 (10 + 2), demand is 70 units (75-5)

At $14 (12 + 2), demand is 65 units (70-5)

At $16 (14+ 2), demand is 60 units (65-5)

Cheers.

8 0

3 years ago