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motikmotik
3 years ago
11

For businesses that gross in excess of $10 million per year, pro forma amounts are usually ________. rounded to the nearest ten

thousand dollars rounded to the nearest one thousand dollars rounded to the nearest one hundred dollars stated in exact amounts.
Business
1 answer:
KatRina [158]3 years ago
5 0

Answer:

rounded to the nearest ten thousand dollars

Explanation:

The term pro forma financial statements refers to a type of financial statement which estimates future financial results. It doesn't follow the GAAP, instead it is designed to focus on specific figures about a company's expected earnings. Although pro forma financials are only expected financial statements, it is still illegal to mislead investors using them.

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During its first year of operations, Bramble Corp. had these transactions pertaining to its common stock. Jan. 10 Issued 25,200
crimeas [40]

Answer and Explanation:

The journal entries are shown below:

a.

On Jan 10

Cash Dr $100,800 (25200 shares × $4 )

              To Common Stock  $100,800

(Being the common stock is issued)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder so common stock is credited

On July 1

Cash $357,000  (51,000 shares × $7)

     To Common stock $204,000  (51,000 shares × $4)

      To Additional Paid in capital in excess of par value - Common stock   $153,000  (51,000 shares × $3)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

b.

On Jan 10

Cash $100,800  (25,200 shares × $4)

     To Common stock $25,200  (25,200 shares × $1)

      To Additional Paid in capital in - Common stock   $75,600   (25,200 shares × $3)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

On July 1

Cash $357,000  (51,000 shares × $7)

     To Common stock $51,000  (51,000 shares × $1)

      To Additional Paid in capital in - Common stock   $306,000   (51,000 shares × $6)

(Being the issuance of the common stock is recorded)

To record this, we debited the cash as it increased the assets and, at the same time, it also increased the total equity of the stockholder and the common stock is credited with the additional capital paid for common stock

8 0
3 years ago
How a company can achieve lower production costs and increase productivity
Softa [21]

Answer:

by improving quality of its products or services are as follows: ... So this budget can be reduced due to improving quality of goods.

Explanation:

Production involves all activities that consist of the output of goods and services demanded by people for which they pay the cost.

A company can achieve lower production costs and increase productivity by improving quality of its products or services so that budget can be reduced by correcting any quality issue in the product or service which can be expensive, but less than external failures

Also, production equipment efficiency can be increased if preventive maintenance can be followed as it helps to reduce operating costs per unit.

 

5 0
3 years ago
Assume there is a simultaneous decrease in the incomes of people in the market for new homes and a decrease in the wages paid to
ioda

Answer:

Lower price for new houses.

Explanation:

The decrease in the income of people will decrease the demand for houses and the demand curve will shift leftwards. Meanwhile, the decrease in the wages for carpenters, plumbers, etc will decrease the cost of production so the producer will supply more when the cost of production decreases. So supply curve will shift rightwards. Resulting there will be lower prices due to shifts in the leftward demand curve and rightward supply curve.

4 0
2 years ago
Waterway Industries compiled the following financial information as of December 31, 2022: Service revenue $834000 Common stock 1
Rashid [163]

If Waterway Industries compiled the financial information as of December 31, 2022. Waterway's assets on December 31, 2022 are: $587500.

<h3>Assets</h3>

Using this formula

Assets=Equipment+Cash+Supplies+Accounts receivable

Where:

Equipment=$246000

Cash=$216000

Supplies=$33000

Accounts receivable=$92500

Let plug in the formula

Assets=$246,000 + $216,000 + $33,000 + $92,500

Assets =$587500

Therefore If Waterway Industries compiled the financial information as of December 31, 2022. Waterway's assets on December 31, 2022 are: $587500.

Learn more about assets here:brainly.com/question/11209470

#SPJ1

3 0
2 years ago
Adjusting entries help to ensure that all ______ are recorded in the period in which they are incurred.
Anna11 [10]

Answer:

expenses

Explanation:

3 0
2 years ago
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