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daser333 [38]
3 years ago
10

g Enchancia Inc. reported the following information at its annual meeting: The company had cash worth $3,290,558, accurals of $5

76,944, inventory of $2,657,360, accounts receivable of $577,102, accounts payable worth $2,519,541, and notes payable worth $610,904. Their net fixed assets were $4,019,047 while their long-term debt was $1,481,937. Calculate the firm's Total Common Equity.
Business
1 answer:
olga55 [171]3 years ago
5 0

Answer:

$5,354,741

Explanation:

assets:

cash $3,290,558

inventory $2,657,360

accounts receivable $577,102

fixed assets $4,019,047

total assets = $10,544,067

liabilities:

accruals $576,944

accounts payable $2,519,541

notes payable $610,904

long-term debt $1,481,937

total liabilities = $5,189,326

equity = assets - liabilities = $10,544,067 - $5,189,326 = $5,354,741

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Classify each of the following financial statement items based upon the major balance sheet classifications. select a major bala
seropon [69]

Answer:

Prepaid Advertising - Current Asset

Equipment - Property, Plant, and Equipment

Trademarks - Intangible Assets

Salaries and Wages payable - Current Liabilities

Income Tax payable - Current Liabilities

Retained Earnings - Stockholder's Equity

Account Receivable - Current Assets

Land (Held for future use) - Long term Investment

Patents - Intangible Asset

Bonds Payable - Long term Liability

Common Stock - Stockholder's Equity

Accumulated Depreciation -  Property, Plant, and Equipment

Unearned sales revenue - Current Liability

Explanation:

Balance Sheet of a company has different heads under which items are classified according to their nature. The major account heads for classification are Assets, Liabilities and Equity.

Prepaid Advertising and Account receivable are classified as current asset because this is expected to be used within a year.

Equipment is classified as Long term asset under the head, Property, Plant and Equipment. The equipment has estimated useful life more than a year then it is classified as Long term asset.

Trademarks and patents are classified as intangible assets, because they are not physical in nature.

Salaries and Wages payable, Income Tax payable and Unearned sales revenue are classified as Current liabilities. These expenses are due to pay within a year.

Retained Earnings and Common Stock are classified as Stockholders equity. The amount after subtracting all liabilities from total assets is referred to as Stockholder equity.

Accumulated depreciation is deducted from Property, Plant and Assets. This has negative sign and is a contra asset account.

5 0
3 years ago
You expect KT industries (KTI) will have earnings per share of $4 this year and expect that they will pay out $1.75 of these ear
melisa1 [442]

The value of a share of KTI's stock today is closest to 9.5% , 0.004375 .

Explanation:

Investment Investment (ROI) is an investment performance metric used to evaluate or compare the success of a variety of investment operations.

In addition to the spending price, ROI aims to explicitly calculate the make value of a single project.

g = retention rate

ROI = 0.75*13% = 9.5%,

Price = 1.75/(0.10-0.0975) = 0.004375

5 0
3 years ago
Marigold Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first y
ohaa [14]

Answer:

Dr cash      $ 2,473,500.00  

Cr preferred stock                                                       $ 2,425,000.00  

Cr  paid-in capital in excess of par-preferred stock $48,500

Dr cash                        $  3,422,000.00  

Cr preferred stock                                                       $ 2,900,000

Cr  paid-in capital in excess of par-preferred stock $522,000

Explanation:

The issue of preferred shares on Feb 1 would result in cash proceeds of $ $2,473,500.00   i.e (48,500*$51)

The proceeds would be debited to cash while preferred stock account is credited with par amount of $ 2,425,000.00 (48,500*$50) and the remaining amount of $ 48,500.00   is credited to paid-in capital in excess of par-preferred stock.

The issue of preferred shares on July 1 would result in cash proceeds of  $3,422,000.00     i.e (58,000*$59)

The proceeds would be debited to cash while preferred stock account is credited with par amount of $ 2,900,000.00   (58000*$50) and the remaining amount of $ 522,000.00    is credited to paid-in capital in excess of par-preferred stock

 

 

3 0
3 years ago
High SchoolBusiness7 days ago Canada has a market economy. As such, Canada's economy (relative to centrally planned economies) t
kati45 [8]

Answer:

D) productive efficiency and allocative efficiency but not necessarily equity.

Explanation:

Countries that have a market economy are capitalistic countries and those that favor command economies (centrally planned) are called socialist countries. No country is totally capitalistic (since governments, taxes, regulations, etc., exist), and no country is totally socialist either. But countries are classified depending on which economic system they favor.

Canada favors free markets, and by doing so, it allows market forces to allocate resources. Consumers are free to decide what to buy and at what price, and producers are free to decide what to sell and at what price. Since private actors are free to decide how to allocate resources, they are allocated more efficiently.

But the negative aspect of capitalism is that income and wealth distribution is very unequal.

7 0
3 years ago
Getthere airlines currently charges $200$ dollars per ticket and sells $40{,}000$ tickets a week. for every $10$ dollars they in
Nataly_w [17]
Suppose GetThere Airlines increases their ticket price to $200+10n = 10(20+n)$ dollars. Then the number of tickets they sell is $40,000-1000n = 1000(40-n)$ .<span> Therefore, their total revenue is
</span>
$$10(20+n)\cdot 1000(40-n) = 10000(20+n)(40-n) = 10000(800+20n-n^2).$$

This is maximized when $n=-\left(\frac{20}{2\cdot(-1)}\right)=10$ .<span> Therefore, they should charge </span><span>$200+10\cdot 10 = \boxed{300}$</span><span> dollars per ticket.</span>
6 0
3 years ago
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