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defon
3 years ago
8

Total assets are $1,450, fixed assets are $790, long-term debt is $750, and short-term debt is $300. What is the amount of curre

nt assets?
A. $660 B. $360 C. $300 D. $40 E. $790
Business
1 answer:
Bad White [126]3 years ago
5 0

Answer:

A. $660  

Explanation:

Total assets include current assets, fixed assets, and intangible assets Current assets include cash, stock, receivable account, etc. Fixed assets include plant & machinery, land, equipment, furniture & equipment, etc.

And the intangible assets are trademarks, copyrights, goodwill, and so$66 on.

The computation is shown below:

= Total assets - fixed assets

= $1,450 - $790

= $660

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Bogart Company is considering two alternatives. Alternative A will have revenues of $146,100 and costs of $104,400. Alternative
irinina [24]

Answer:

Choosing alternative B would increase net income by $17,100

Explanation:

The analysis showing the incremental revenues,costs and net income of alternative A and B is shown below:

              Alternative A           Alternative   B     Difference between A&B

Revenues        $146,100            $185,900           $39800

Costs               ($104,400)           ($127,100)        ($22700 )

Net income      $41,700                 $58,800        $17,100

Alternative B records a higher net income compared to Alternative A,hence choosing alternative B would increase net income by $17,100

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4 0
3 years ago
On November 1, 2018, Reid Corporation acquired bonds with a face value of $700,000 for $673,618.61. The bonds carry a stated rat
Evgen [1.6K]

Answer:

Nov 1 2018

Dr Bonds receivable 700,000

Cr Cash 67,3618.61

Cr Discount on bonds receivable 26,381.39

April 3 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

Dr Interest revenue 37,059.02

Oct 31, 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

Cr Interest revenue 37,059.02

Nov 1, 2019

Dr Cash 700,000

Dr Discount on bonds receivable 22,283.25

Cr Notes receivable 700,000

Cr Profit on sale bonds receivable 22,283.25

Explanation:

Preparation of the journal entries to record the following:

Purchase of the bonds

Interest receipts on April 30, 2019 and October 31, 2019

Sale of the bonds.

Journal entries

Nov 1 2018

Dr Bonds receivable 700,000

Cr Cash 67,3618.61

Cr Discount on bonds receivable 26,381.39

(700,000-67,3618.61)

(To record Purchase of bonds)

April 30 2019

Dr Cash 35,000

(700,000*10%*6/12)

Dr Discount on bonds receivable 2,049.02

(37,059.02-35,000)

Dr Interest revenue 37,059.02

(673,618.61*11%*6/12)

(To record Interest receipts)

Oct 31, 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

(37,059.02-35,000)

Cr Interest revenue 37,059.02

(673,618.61*11%*6/12)

(To record Interest receipts)

Nov 1, 2019

Dr Cash 700,000

Dr Discount on bonds receivable 22,283.25

($26,381.39-$2,049.02-$2,049.02)

Cr Notes receivable 700,000

Cr Profit on sale bonds receivable 22,283.25

(To record Sale of the bonds)

8 0
3 years ago
Which filter can be used to find a specific project when in the work area?
ANEK [815]

The filter that can be used to find a specific project when in the work area is: Project name.

<h3>Project Filter</h3>

When looking or searching for a particular project  that meet your requirement  in a work area, in order to find the project the best thing to do is to include the following filter as it will enables you to find the project you are looking for;

  • Project name
  • Due date
  • Template name
  • Team member

Therefore the filter that can be used to find a specific project when in the work area is: Project name.

Learn more about project filter  here:brainly.com/question/23643337

#SPJ11

6 0
1 year ago
Shaw Company sells goods that cost $300,000 to Ricard Company for $410,000 on January 2, 2017. The sales price includes an insta
arlik [135]

Answer:

Explanation:

a. The journal entries are shown below:

Accounts receivable A/c Dr $410,000

            To Sales revenue A/c $370,000

            To Unearned service revenue A/c $40,000

(Being the sale is recorded)

Cost of goods sold A/c Dr $300,000

          To Merchandise inventory A/c $300,000

(Being inventory is sold at cost)

b.  The recognized revenue would be

Sales revenue $370,000

Service revenue $20,000

Total revenue $390,000

The service revenue would be

= $40,000 × 3 months ÷ 6 months

= $20,000

And, the 3 months is computed from January 2 to March 31

5 0
3 years ago
repare a contribution format income statement segmented by divisions. 2-a. The Marketing Department has proposed increasing the
Umnica [9.8K]

Question Completion:

Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement: Sales Variable expenses Contribution margin Fixed expenses Net operating income (loss) $ 1,509,000 567,040 941,968 1,036,000 $ (94,040) In an effort to resolve the problem, the company would like to prepare an income statement segmented by division. Accordingly, the Accounting Department has developed the following information: Division Central $389,000 $600,000 $520,000 East West Sales Variable expenses as a percentage of sales Traceable fixed expenses 27% 36% $283,000 $336,000 $203,000

Prepare a contribution format income statement segmented by divisions Division Total Company East Central West

The Marketing Department has proposed increasing the West Division's monthly advertising by $25,000 based on the belief that it would increase that division's sales by 19%.

Answer:

Wingate Company

a. Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,960     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

b. If the marketing department's proposal is implemented, the net operating loss will decrease by $38,232, i.e from $94,040 to $55,808.

Explanation:

a) Data and Calculations:

Wingate's most recent monthly contribution format income statement:

Sales                                   $ 1,509,000

Variable expenses                   567,040

Contribution margin                 941,968

Fixed expenses                     1,036,000

Net operating income (loss) $ (94,040)

Additional information:

Division                                 Central       East          West

Sales                                   $389,000  $600,000  $520,000

Variable expenses as a

 percentage of sales                 56%           27%           36%

Traceable fixed expenses $283,000  $336,000 $203,000

Increase in Division West's fixed expenses by $25,000

Expected increase in Division West's sales = 19%

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,509,000   $389,000  $600,000  $520,000

Variable expenses                   567,040      217,840      162,000      187,200

Contribution margin                 941,968     $171,160   $438,000   $332,800

Traceable fixed expenses      822,000  $283,000   $336,000  $203,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (94,040)   ($111,840)   $102,000  $129,800

Based on new proposal:

Contribution format income statement segmented by divisions

Division                            Total Company        East      Central        West

Sales                                   $ 1,607,800   $389,000  $600,000   $618,800

Variable expenses                  602,608      217,840      162,000    222,768

Contribution margin              1,005,192     $171,160   $438,000  $396,032

Traceable fixed expenses      847,000  $283,000   $336,000  $228,000

Non-traceable fixed expense  214,000

Net operating income (loss) $ (55,808)   ($111,840)   $102,000  $168,032

5 0
2 years ago
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