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MaRussiya [10]
3 years ago
9

Culver Corporation’s adjusted trial balance contained the following asset accounts at December 31, 2017: Cash $8,220, Land $40,8

00, Patents $16,000, Accounts Receivable $97,530, Prepaid Insurance $6,040, Inventory $34,900, Allowance for Doubtful Accounts $4,520, and Equity Investments (to be sold in the next quarter) $13,510. Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
Business
1 answer:
Dovator [93]3 years ago
8 0

Answer:

See explanation Section

Explanation:

             Culver Corporation

 Balance Sheet (Current Asset only)

        As at December 31, 2017

Particulars                         $                         $

Cash                                                        $8,220                

Accounts Receivable $97,530

Less: Allowance for

<u>Doubtful Accounts       (4,520)           </u>   $93,010

Prepaid Insurance                                   $6,040

Inventory                                                $34,900

<u>Equity Investments                                  $13,510</u>

Current Assets                                     $155,680

Note: As equity investment will be sold in the next year, it is shown as current assets. Land and patents are property, plant, and equipment.

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Consider the following limit-order book for a share of stock. The last trade in the stock occurred at a price of $52. Limit Buy
nekit [7.7K]

Answer:

$52.25

Explanation:

From the question given, thus saying if a market buy order for 100 shares comes in, at what price will it be filled.

(a) The price it will be filled is at  $52.25

The Reason is that,the buy-market order will be filled at the price $52.25, the best value price of the sell limit orders in the book.

8 0
3 years ago
Blake and Matthew are partners who agree that Blake will receive a $103,000 salary allowance and that any remaining income or lo
Sedaia [141]

Answer:

total net income = $109,000

Explanation:

given data

Blake receive = $103,000

Matthew capital account is credited = $3,000

solution

we know that both partner get equal part in  remaining loss or income

so here Blake get $3,000 as share of the net income

so that here net income for the period, that will Blake's salary allowance +  amount shared in both persons of net income

as that

total net income = $103,000 + $3,000 +$3,000

total net income = $109,000

7 0
2 years ago
Kay &amp; Maggie's, a beauty salon, is conducting a survey to find out how satisfied its customers are with the service provided
SashulF [63]

Answer:

It is both qualitative data and primary data.

Explanation:

Qualitative data is data that is not expressed in numerical values. Kay & Maggie are asking for opinons in the survey and interviews. These opinons are not numbers, they are words, language, therefore, they are qualitative.

It is primary data because Kay & Maggie are collecting the information directly from the desired source, the customers, instead of collecting the data from a third party.

7 0
2 years ago
Jen's Fashions is growing quickly. Dividends are expected to grow at a 19 percent rate for the next 3 years, with the growth rat
Sedaia [141]

Answer:

Ans. Current Share Price=$33.85

Explanation:

Hi, we first have to establish the dividend for the first 3 years and the  dividend when the growth rate falls off to a constant rate of 8% with the formula to find the present value of a perpetuity with constant growth rate. From there, we need to bring all the above cash flows to present value and that is the price of the share. The formula is as follows.

Price=\frac{D1}{(1+r)^{1}}+\frac{D2}{(1+r)^{2} } +\frac{D3}{(1+r)^{3} } +\frac{D3(1+g)}{(r-g)} \frac{1}{(1+r)^{3} }

To find D1, D2,and D3, we have to do this.

D1=Do(1+0.19)

D2=D1(1+0.19)

D3=D2(1+0.19)

Since 0.19 is the growth rate for 3 years. Everything should look like this

Price=\frac{4.04}{(1+0.12)^{1}}+\frac{4.29}{(1+0.12)^{2} } +\frac{25.52}{(1+0.12)^{3} } +\frac{25.52(1-0.08)}{(0.12+0.08)} \frac{1}{(1+0.12)^{3} } =33.85

notice that the sign of the last part do not coincide with the formula, that is because the growth rate from the first 3 years is -8%.

Best of luck.

7 0
3 years ago
A​ firm's operating cash flow​ (OCF) is defined as​ ________. A. gross profit minus operating expenses B. EBIT times one minus t
Sloan [31]

Answer:

B. EBIT times one minus the tax rate plus depreciation

Explanation:

The formula to calculate the operating cash flow is given below:

Operating cash flow = EBIT + Depreciation expenses - Income tax expense

The EBIT stands for earning before interest and taxes

And, EBIT - income tax expense = Earning after taxes (EAT)

The operating cash flow is the amount which is left after paying all the expenses related to cash

6 0
3 years ago
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