Answer:
$210,000 is the capital balance of Heflin after acquisition by Mahar
Explanation:
In this question we are asked to calculate the capital balance of Heflin given the data in the above question.
Firstly, we identify the capital account of Heflin before the acquisition. From the question, this is equivalent to a value of $280,000
Now, we calculate the proportionate capital transferred. That is same as 25% of the total; 25/100 * 280,000 = $70,000
The ending capital of Heflin after acquisition would be mathematically = Capital account of Heflin before admission - Ending capital of Heflin after admission= $280,000 - $70,000 = $210,000
Answer:
the extent to which a product is recognized and bought by customers in a particular market.
Answer: $170,000
Explanation:
According to the historical cost concept, the original cost value of a asset (i.e. land) should be recorded in the books. The original cost refers to the cost of a asset at the time of purchasing. As per the principle of historical cost, assets are always recorded as a original cost or historical cost or acquisition cost.
But when a person sold the asset then he will consider the fair market value.
Answer:
Explanation:
Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The land is a fixed asset and patents is an intangible asset. Thus these items would not come in the current asset section
The preparation of the current assets section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:
Answer:
b. 2.81 times
Explanation:
Calculation to determine Total stockholders' equity, end-of-year 121,851
Total asset turnover is:
First step is to calculate the Total assets
Beginning Ending
Total liabilities $83,932 $103,201
Total equity 198,935 121,851
Total assets $282,867 $225,052
Now let determine the Total asset turnover
Total asset turnover = $712,855/[($282,867 + $225,052)/2]
Total asset turnover= 2.81 Times
Therefore Total stockholders' equity, end-of-year 121,851
Total asset turnover is:2.81 Times
