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IRISSAK [1]
3 years ago
5

Based on the following adjusted trial balance: Peak Corporation Adjusted Trial Balance As of December 31, 2018 Debit Credit Cash

$ 800 Accounts Receivable 200 Inventory 2,500 Building 30,000 Accumulated Depreciation $ 3,000 Notes Payable 500 Common Stock 21,000 Retained Earnings 5,000 Dividends 1,000 Revenues 7,000 Selling and Administrative Expense 1,000 Insurance Expense 1,000 $ 36,500 $ 36,500 Determine the amount that will be reported as retained earnings on the post-closing trial balance. Group of answer choices
Business
1 answer:
ivanzaharov [21]3 years ago
8 0

Answer:

Determine the amount that will be reported as retained earnings on the post-closing trial balance.

Retainend earnings final___________30000

Explanation:

Cash__________________800  

Account Receivable______ 200  

Inventory_______________2500  

Building________________30000  

Accunulated depreciation_______________ 3000

Notes payable_________________________ 500

Common stock_________________________21000

Retainend Earnings_____________________ 5000

Dividens________________1000  

Revenue_____________________________ 7000

Selling and administration_ 1000  

Insurance expense_______ 1000  

                                       36500            36500

 

 

Retainend earnings______ 1000 26000

Retainend earnings initial_________ 25000

 

Net income_____________2000____7000

                                                 5000

 

Retainend earnings final___________30000

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vekshin1

Answer:

a) 3X + 2Y = 36

b) X = 6 , Y = 9

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Explanation:

Individual consumes : X and Y

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unit cost : $3 per unit for X

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<u>A) Budget equation mathematically</u>

X* Px + Y* Py = M

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Px and Py = unit cost for X and Y

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Maximum utility ( MRS )  = Px / Py ,

MRS = MUx / MUy

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The following information relates to the assets of Westfield Semiconductors as of December 31, 2019. Westfield uses the straight
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Answer:

See the explanation below.

Explanation:

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Land        $104,300                 Infinite               $100,000            10 years

Building     430,000               25 years                30,000             10 years

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Westfield Semiconductors Balance Sheet (Partial) as of December 31, 2019.

<u>Details                                                             $</u>

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Building (NBV)                                          270,000

Machine (NBV)                                         230,000

Truck (NBV)                                             <u>    13,080</u>

Total PPM                                                  617,380

Intangible assets:

Patent (NRV)                                              <u> 56,000</u>

Total tangible and intangible assets    <u> 673,380</u>

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