1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zielflug [23.3K]
3 years ago
10

anson Corporation Co.'s trial balance included the following account balances at December 31, 2018: Accounts receivable $12,000

Inventories $40,000 Patent $12,000 Investments $30,000 Prepaid insurance $6,000 Note receivable, due 2021 $50,000 Investments consist of treasury bills that were purchased in November, 2018 and mature in January, 2019. Prepaid insurance is for two years. What amount should be included in the current asset section of Janson's December 31, 2018, balance sheet?
Business
1 answer:
VashaNatasha [74]3 years ago
5 0

Answer:

Current Assets = $85,000

Explanation:

                         Anson Corporation

                     Balance Sheet (Partial)

                   As at December 31, 2018

Assets

Current Assets:

Accounts receivable      $12,000

Inventories                       40,000

Treasury Bill                     30,000

<u>Prepaid insurance              3,000</u>

Total current assets     $85,000

Prepaid insurance $6,000/2 = $3,000 is for current years. Therefore, $3,000 is a current assets. Since treasury bill is an investment and for 3 months, it is a current assets.

You might be interested in
Name two arguments that support international trade.
konstantin123 [22]
One argument for is that exports help improve the terms of trade of a country and also opens markets for domestic producers, meaning they can grow, employ more workers, earn more income, etc. Another argument for is that it increases competition, as there are goods coming in from all corners of the world, which may pressure domestic pressures to be more competitive and innovative with their products, improving its quality and product choice.

An argument for protectionism could be that imports may actually be harming domestic producers, which as we can see from President Trump's rhetoric, we can deduce that cheap imports from China will take sales revenue away from American producers and potentially cause them to lose customers and close down. Another argument for is that quotas and tariffs will make imports more expensive, which may make domestic products more price competitive.

Regarding the opinions, come up with it yourself. Think of the pros and cons and make a balanced judgement.
8 0
3 years ago
Read 2 more answers
Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Federal inco
sattari [20]

Answer:

Net pay is  $383,750

Explanation:

Hermandez builders net pay can be computed by deducting the following from the gross payroll amount:

Federal income taxes

social security

medicare

charitable contributions

union dues

The net pay is computed thus:

Gross payroll pay                                                      $500,000

Federal income taxes                              $63,000

Social security                                          $31,000

medicare                                                  $7,250

charitable contributions(1%*$500000)  $5,000

union dues (2%*$500000)                     $10,000    

                                                                                ($116,250)

Net pay                                                                     $383,750  

3 0
3 years ago
To which of the following would a
nirvana33 [79]

Answer:

the answer is D it is the right answer

4 0
2 years ago
The risk-free rate of return is 10.5%, the expected rate of return on the market portfolio is 17%, and the stock of Xyrong Corpo
nadezda [96]

Answer:

$88.24

Explanation:

The computation of the  intrinsic value of a share of Xyrong stock is shown below;

k = risk free rate of retunr+ beta[expected market rate of return - risk free rate of return]

= 10.5% + 1.5(17% - 10.5%)

= 20.25%  

Now

growth rate = b × ROE

= .5 × 24%

= 12%

Now the intrinsic value of the stock is

= (($13 × 50%)  × (1 + 0.12)) ÷ (0.2025 - 0.12)

= $88.24

5 0
3 years ago
Geothermal corp. just announced good news: its earnings have increased by 20%. most investors had anticipated an increase of 25%
Nataly_w [17]
The answer would be the stock price will decrease. The reason behind this is the original price replicates an expectation or looking forward of a 25% upsurge in the company’s earnings. The actual increase is a dissatisfaction compared to original expectations.
3 0
3 years ago
Other questions:
  • Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respec
    5·1 answer
  • Spectacular Corporation began the year with accounts​receivable, inventory, and prepaid expenses totaling $67,000. At the end of
    12·1 answer
  • Assume the following scenarios.
    13·1 answer
  • For example, administrative expenses should be $3,700 per month plus $41 per course plus $7 per student. The company’s sales sho
    15·1 answer
  • A division is considering the acquisition of a new asset that will cost $2,520,000 and have a cash flow of $700,000 per year for
    12·1 answer
  • Differentiate among the following.
    14·1 answer
  • Cutter Enterprises purchased equipment for $72,000 on January 1, 2011. The equipment is expected to have a five-year life and a
    6·1 answer
  • What do you need to become a business development manager
    14·1 answer
  • A firm wants to strengthen its financial position. Which of the following actions would INCREASE its quick ratio?a) Offer price
    5·1 answer
  • What is a​ long-term purchase commitment to a supplier for items that are to be delivered against​ short-term releases to​ ship?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!