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
grandymaker [24]
3 years ago
9

Crystal Lodging recorded $330,000 in revenues, $247,500 in expenses, and $45,000 of dividends for the year. The company began th

e year with total assets of $285,000 and stockholder's equity of $130,500. During the year liabilities increased by $90,000 and stockholder's equity increased by $37,500. What would the change in Crystal Lodging's assets be?
Business
1 answer:
Luda [366]3 years ago
8 0

Answer:

Change in Assets is $127,500

Explanation:

The accounting equation for a corporation is:

Assets = Liabilities + Stockholders' Equity

⇒ Liabilities = Assets - Stockholders' Equity

= $285,000 - $130,500

= $154,500

At the end of years,

  • Liabilities amount = Liabilities in the beginning + Change in liabilities = $154,500+ $90,000 = $244,500
  • Stockholder's equity amount = Stockholder's equity + Change in stockholder's equity = $130,500 + $37,500 = $168,000

The assets at the end of year = $168,000 + $244,500 = $412,500

Change in Assets = $412,500 - $285,000 = $127,500

Shorter answer:

Change in Assets = Change in Liabilities + Change in Stockholders' Equity

= $90,000 + $37,500 = $127,500

You might be interested in
In​ ________, goals set by top managers flow down through the organization and become subgoals for each organizational area.
STatiana [176]

Answer:

traditional goal setting

Explanation:

This is traditional goal setting because the goals flow from the top down. Each organisational area then incorporates them from the top down.

3 0
3 years ago
An agreed-upon solution about a common set of engineering features and design choices is known as a?
Vikentia [17]
Neudjsbqjaisinfhsu sorry need points
4 0
1 year ago
Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:
Westkost [7]

Answer:

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

Explanation:

The question states that bad debts are expected to be 5% of the accounts receivables. This means that it is: $327,400 x 5% = $16,370.

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. The 5% may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply a prediction, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement.

The initial entry for allowance for doubtful debts is incorrect, hence it would have to be corrected before the new amount can be recorded. Correction:

Debit : Allowance for doubtful debts = $7900

Credit : Bad debts = $7900

The accounts will be cancelled off and the new entry can be recorded...

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

When the amount is officially declared uncollectible, the allowance for doubtful debts account will be debited and the accounts receivables account will be credited.

6 0
3 years ago
Managers can help to change the organization's culture by paying attention to which ______ they use as narratives to symbolize t
Klio2033 [76]

An organization's culture can be changed when managers pay attention to which <u>stories</u> are used as narratives to symbolize the organization's vision and values to employees.

<h3>Who is a manager?</h3>

A manager refers to an individual who is saddled with the responsibility of providing support, guidance, administrative control, supervision, as well as acting as a role model (example) to the employees working in an organization especially by being morally upright and promoting the organization's culture, vison, and values at all times.

This ultimately implies that, an organization's culture can be changed when managers pay attention to which <u>stories</u> are used as narratives to symbolize the organization's vision and values to employees.

Read more on managers here: brainly.com/question/24553900

4 0
2 years ago
_____ is observing a professional as they work to learn more about what they do
makkiz [27]
It is an internship because they aren’t paid and they foreshadow someone with the job that they want so A
6 0
2 years ago
Read 2 more answers
Other questions:
  • Milden Company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. As
    10·1 answer
  • Who has outlook mine is william56453 to help me
    13·1 answer
  • FICO is a credit score.<br><br> True<br> False
    12·1 answer
  • Drum buffers are:_________
    5·1 answer
  • Suppose a project will result in an economic benefit of $20 million dollars 25 years from now. If the discount rate is 3%, what
    12·1 answer
  • The political business cycle refers to the phenomenon that just before elections, politicians enact _________ policies. After th
    7·1 answer
  • In dealing with moral dilemmas involving people, products, prices, and profits, organizations typically reflect one of these thr
    9·1 answer
  • Name the four functions of money ​
    12·1 answer
  • Identify the statement in the passage that reflects unethical behavior.
    13·1 answer
  • Grants Corporation prepared the following two income statements (simplified for illustrative purposes):
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!