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3 years ago

These items are taken from the financial statements of Windsor, Inc. at December 31, 2017.

Business

1 answer:

nordsb [41]3 years ago

5 0

Answer:

To make balance sheet we first have to calculate net income/net profit for the year.

<em><u>Net profit Calculation</u></em>

Service revenue $ 13,524

Insurance expense ($ 718 )

Depreciation expense ($ 4,876)

Interest expense ($ 2,392)

Profit $ 5,538

Balance Sheet

Asset

Non-Current Asset

Land $56,304

Buildings $97,336

Accumulated depreciation—buildings ($41,952)

Equipment $75,808

Accumulated depreciation—equipment ($17,222)

Total non Current Asset $170,274

Current Asset

Cash $10,893

Accounts receivable $11,592

Prepaid insurance $2,944

Current Asset $25,429

Total Asset $195,703

Equity

Common stock $55,200

Retain Earning (36,801+5,538) $42,339

Total Equity $97,539

Liability

Non-Current Liability

Current Liability

Accounts payable $8,740

Notes payable $86,112

Interest payable $3,312

Total Current Liability $98,164

Total Liability + Equity $195,703

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An estimated three-quarters of what product sold in naples originate in the black market?

Ivanshal [37]

<span>This is because the tax on a carton of cigarette is about $10plus. It used to be $3plus before the Obama administration and when the cost of tax is added to the sales price, it makes it more expensive for the average consumer, however, black market sellers usually avoid paying taxes thats why it is black market.</span>

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3 years ago

81. The forward rate of the Swiss franc is $.50. The spot rate of the Swiss franc is $.48. The following interest rates exist: U

Alisiya [41]

Answer:

invest = $96,914

so correct option is d. $96,914

Explanation:

given data

forward rate of the Swiss franc = $.50

spot rate of the Swiss franc = $.48

pay a sum = SF200,000

solution

we know Borrow is here

Borrow = $\frac{SF200000}{1.05}$

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and

when we convert it will be

Convert SF190,476 is

Convert = SF190,476 × $.48 = $91,428

so investment at 6 % is

Invest = 6 % of $91,428 + $91,428

invest = $5485.68 + $91,428

invest = $96,914

so correct option is d. $96,914

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3 years ago

In 2019, Willow Corporation had three employees. Two of the employees worked full-time and earned salaries of $25,000 each. The

Lady_Fox [76]

Answer:

FUTA tax due from the corporation is $108

Explanation:

The First and Second employee earned 7000 each

The Third employee earn earns 4000

Paid under State Unemployment Tax by the employer is = (7000+7000+4000) x 5.40% =$972

How much FUTA tax is due from Willow Corporation for 2019?

Credit of tax paid in State Unemployment Tax is availabe for FUTA tax of 6%, thus FUTA due will be:

=(6% of 18000) - $972

=1080-972

=$108

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3 years ago

Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed

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<h3>What is the payment monthly?</h3>

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<h3>What is a loan amortization schedule?</h3>

It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner

It is given that:

Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
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The formula is:

$P=F_{P} (i)/1-(1+i)^{-1}$