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inna [77]
2 years ago
5

Mirr, Inc. was incorporated on January 1, 2010, with proceeds from the issuance of $750,000 in stock and borrowed funds of $110,

000. During the first year of operations, revenues from sales and consulting amounted to $82,000, and operating costs and expenses totaled $64,000. On December 15, Mirr declared a $3,000 cash dividend, payable to stockholders on January 15, 2011. No additional activities affected owners' equity in 2010. Mirr's liabilities increased to $120,000 by December 31, 2010. On Mirr's December 31, 2010, balance sheet, total assets should be reported at ________.
Business
1 answer:
murzikaleks [220]2 years ago
4 0

Answer:  the correct answer is $ 885,000

Explanation:

Mirr began operations on January 1, 2010

Assets= Liabilities + Patrimony or owner's equity

$860,000 = $110,000+ $750,000

In the first year liabilities grew to $120,000 and patrimony increased to $765,000 which is $750,000 beginning balance + $18,000 ($82,000 revenues - $64,000 expenses) - $ 3,000 declared dividends.

So for December 31, 2010 the assets should be

$885,000 = $120,000 + $ 765,000.

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The following revenue and expense account balances were taken from the ledger of Guardian Health Services Co. after the accounts
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                             Guardian Health Services Co.

           Income Statement for the year ended February 28, 20Y0

                                                                        $                        $

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The dimensions of the cylinder can be used to minimise cost of manufacture.

<h3>How to we find minimised cost?</h3>

Let's ignore the metal's thickness and assume that the material cost to manufacture is precisely proportionate to the surface area of a perfect cylinder.

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Can surface area (cm2) versus. radius (cm), where capacity = 1000cm 3.

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