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san4es73 [151]
3 years ago
6

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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For each of the following items, identify whether they would most likely be reported in the balance sheet (B) or income statemen
blagie [28]

Answer:

Explanation:

The statement of income records all sales revenues general and expenditure incurred during a particular period.

The balance sheet reports the assets and the liabilities of the company

So, the classification is as follows

a. Net income  = income statement (I)

b. Retained earnings  = balance sheet (B)

c. Depreciation expense  = income statement (I)

d. Accumulated depreciation  = balance sheet (B). It is deducted from the value of the respective fixed assets

e. Wages expense  = income statement (I). It is shown on the debit side of the income statement

f. Wages payable   = balance sheet (B). It is a current liabilities

g. Interest expense  = income statement (I) It is shown on the debit side of the income statement

h. Interest payable   = balance sheet (B). It is a current liabilities

i. Sales = income statement (I)

8 0
3 years ago
Harriet recently moved to a posh neighborhood. She buys an expensive car and starts wearing designer clothes so that she fits in
Advocard [28]

Answer: d. Susceptibility to interpersonal influence.

Explanation:

Interpersonal influence is the type of social influence that is exerted by a group to achieve conformity, the difference being frowned upon or discouraged.

Social influence can be seen as a form of peer influence, where the person is urged to be one of the groups and to adapt to the social paradigms approved by the group.

A person susceptible to social influence succumbs to the pressure of the group and leaving their individuality aside, and follows the paradigms that the group dictates. <em>This is the case of Harriett, who adopts the lifestyle of the social class of her new neighborhood.</em>

<em>I hope this information can help you.</em>

3 0
2 years ago
Why are some producers forced to sell their products at the prevailing market price? Group of answer choices price takers find m
Crank

Some producers are forced to sell their products at the prevailing market price because of (C) a high degree of similarity to competitor's products.

<h3>What is the prevailing market price?</h3>
  • Prevailing Market Price refers to the market's published wholesale price and, in the absence of a declared wholesale price, the prevailing market price of any commodities.
  • The term "prevailing market conditions" refers to the average amount of rent paid by operators of similar sized and placed lodges throughout the country, as determined in good faith by the national protected area authority.
  • Because of their great degree of similarity to competitors' products, some producers are forced to offer their items at the prevailing market price.
  • The average wage paid to similarly employed workers in a certain occupation in the area of anticipated employment is described as the prevailing wage rate.

Therefore, some producers are forced to sell their products at the prevailing market price because of (C) a high degree of similarity to competitors' products.

Know more about market prices here:

brainly.com/question/24877850

#SPJ4

The complete question is given below:
Why are some producers forced to sell their products at the prevailing market price?

A. price takers find market analysis is too costly

B. they are very small players in the overall market

C. high degree of similarity to competitor's products

D. they can increase output without affecting the quality

8 0
1 year ago
Suppose that the united states and canada each produce only two products, televisions and food. The united states can produce 10
Alex

Answer: Trade between the two countries is beneficial when United States trade food to Canada and Canada would trade televisions to the United States.

Explanation: In international trade, each country will produce a good in which it has a comparative advantage (lower opportunity cost).

Opportunity cost of food is,

Unites states = \frac{100}{150} = 0.66

Canada = \frac{300}{330} = 0.90

Opportunity cost of television is,

Unites states = \frac{150}{100} = 1.5

Canada = \frac{330}{300} = 1.1

Since, opportunity cost of food is lower in the United states, United states will export food.

Opportunity cost of television is lower in Canada, Canada will export television to the United States.

6 0
3 years ago
They want to make a profit of $55,498 Unit Variable costs = $11 Unit selling price is = $37 Fixed costs = $18,470 How many units
belka [17]

Answer:

2,845 units

Explanation:

To find the answer you need to consider that the profit is equal to the sales minus the costs.

Let's consider that x is the number of units sold

Sales= Price per unit*number of units sold

Sales= 37x

Variable cost= Cost per unit*number of units sold

Variable cost= 11x

Fixed cost= 18,470

55,498=37x-11x-18,470

55,498+18,470=26x

73,968=26x

x=73,968/26= 2,845

According to this, the answer is that they need to sell 2,845 units to make the desired profit.

6 0
3 years ago
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