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3 years ago

Kolander Company has the following accounts and balances at the end of the year:

Business

1 answer:

Arte-miy333 [17]3 years ago

4 0

Answer:

$149,000

Explanation:

The basic accounting equation is; ASSETS = LIABILITIES + CAPITAL

Retained earnings is the missing figure in order to balance the equation. Salaries Expense will not be considered as it is an Income Statement item and not enough Data is provided to prepare an Income Statement.

ASSETS

Building $57,000

Land $41,000

Equipment $61,500

Accounts Receivable $31,000

Short-term investments $7,000

Cash and Cash Equivalents $82,000

Total Assets $279,500

LIABILITIES

Accounts Payable $38,000

Interest Payable $1,500

Income Taxes Payable $10,000

Long Term Notes Payable $56,000

Total Liabilities $105,500

EQUITY

Common Stock $25,000

Retained Earnings $149,000

Total Equity $279,500

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On January 1, 2016, Brian's stock portfolio is worth $100,000. On September 30, 2016, $5,000 is withdrawn from the portfolio, an

defon

Answer:

1.93%

Explanation:

The time weighted rate of return will be computed by combining the return at every time period demarcated by a withdrawal/addition.

Time 1: Jan 1, 2016 to Sep 30, 2016

start value = 100,000; end value = (105,000+5,000) = 110,000

Return = $\frac{110,000}{100,000}=1.1$

Time 2: Sep 30, 2016 to Sep 30, 2017

start value = 105,000; end value = 108,000

Return = $\frac{108,000}{105,000}=1.028571$

Time 3: Sep 30, 2017 to Dec 31, 2017

start value = (108,000 + 3,000) = 111,000; end value = 100,000

Return = $\frac{100,000}{111,000}=0.900901$ .

Therefore, time weighted return

= (1.1 * 1.028571 * 0.900901) - 1

= 0.019305

= 1.93%.

3 0

2 years ago

DS Unlimited has the following transactions during August.

m_a_m_a [10]

Answer:

See the journal entries below.

Explanation:

The journal entry will look as follows:

Date Account and explanation Debit ($) Credit ($)

Aug 6 Inventory (50 * $100) 5,000

Account payable 5,000

(To record inventory purchased on account.)

Aug 7 Inventory 300

Cash 300

(To record payment of freight charges associated with the August 6 purchase.)

Aug 10 Account payable (5 * $100) 500

Inventory 500

(To record the returns of defective five game devices to GameGirl.)

Aug 14 Account payable (w.1) 4,500

Cash (balancing figure) 4,455

Inventory (w.2) 45

(To record the payment of the full amount due to GameGirl.)

Aug 23 Account receivable (30 * $120) 3,600

Sales revenue 3,600

Cost of goods sold 3,170

Inventory 3170

(To record the Sales and cost of 30 game devices purchased on August 6.)

Workings:

w.1. Account payable = Purchases on account on August 6 - Defective inventory returned on August 10 = $5,000 - $500 = $4,500

w.2. Inventory = Discount received on account payable for paying within 10 days = w.1 * 1% = $4,500 * 1% =$45

7 0

2 years ago

Which of the following assessments of electronic retailing is most accurate? a. The line between electronic retailing and tradit

IgorC [24]

Answer:

The correct answer is letter "A": The line between electronic retailing and traditional retailing is blurring as traditional retailers go online.

Explanation:

Most purchases nowadays are being processed online. The easiness to access to a wide variety of products and the methods of payments causes more people to buy online. Besides, the number of retailer stores with mobile apps is increasing so there is no need to have a computer to make the purchases online since they can be made with a phone. This scenario is fading the line that used to separate traditional retailing with online retailing.

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3 years ago

Betsy Strand’s regular hourly wage rate is $24, and she receives an hourly rate of $36 for work in excess of 40 hours. During a

melamori03 [73]

<h3>Betsy’s gross earnings for January period is $1,140 </h3><h3>Betsy’s net pay for January period is $966.79 </h3>

Explanation:

Betsy Strand’s regular hourly wage rate = $24
Betsy Strand’s hourly rate for work in excess of 40 hours = $36
Betsy works during a January pay period = 45 hours.
Betsy's pay for January period = $24 * 40 + $36 * 5
Betsy's pay for January period = $1,140

Betsy’s gross earnings for January period is $1,140

Betsy’s federal income tax withholding = $86
FICA tax rate = 7.65%.
Betsy’s FICA Taxes Payable = $1,140 * (7.65 / 100)
Betsy’s FICA Taxes Payable = $87.21
Betsy’s net pay for January period = Gross earnings - Federal income tax withholding - FICA Taxes
Betsy’s net pay for January period = $1,140 - $86 - $87.21
Betsy’s net pay for January period = $966.79

Betsy’s net pay for January period is $966.79

6 0

3 years ago

The employees of Pi's Pizza, a local pizza restaurant, feel that the owners and managers really try to follow the ethical polici

weeeeeb [17]

Answer: (C) Ethical climate

Explanation:

The ethical climate is one of the organizational based atmosphere where the company basically focuses on the employees ethical values, laws and the environment that helps in making different types of complex decisions.

The main purpose of the ethical climate in an organization is that it helps in maintaining the values, principle and the moral of the company employees.

According to the given question, the Pi's pizza is one of the restaurant that maintain the ethical climate by follow the various types of ethical policies. Therefore, Option (C) is correct answer.

7 0

3 years ago

Kolander Company has the following accounts and balances at the end of the​ year:

Kolander Company has the following accounts and balances at the end of the year: