In recent decades, many successful presidential candidates were former governors.

Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y6. Assume that assets increased by $130 a

sukhopar [10]

Answer:

The owner's equity be as of December 31, 20Y7 is $705

Explanation:

In this question, we apply the accounting equation which is given below

Total assets = Total liabilities + shareholder's equity

The question has said that the liabilities are decreased and the assets are increased.

So, the new asset is = total assets + increased amount

= $1,000 + $130

= $1,130

And, So, the new liability is = total liabilities - decreased amount

= $450 - $25

= $425

So, the shareholder equity would be equal to

= $1,130 - $425

= $705

Hence, the owner's equity be as of December 31, 20Y7 is $705

5 0

3 years ago

Sebastian purchases two pieces of equipment for $100,000. Appraisals of the equipment indicate that the fair market value of the

Schach [20]

Answer:

$100,000

Explanation:

According to the internal revenue service ''In most situations, the basis of an asset is its cost to you. The cost is the amount you pay for it in cash, debt obligations, and other property or services. Cost includes sales tax and other expenses connected with the purchase.''

Therefore Sebastian's basis in these two assets is unconnected with the fair market value of the assets but with the cost.

Purchased Equipment is always recorded at its acquisition cost or its net book value, that is after deducting the accumulated depreciation . In the scenario we have no depreciation figures, hence the basis is the cost of $100,000

8 0

3 years ago

Able Trucking Corporation files a suit in a state court against Bob’s Service Company (BSC), and wins. BSC appeals the court’s d

xz_007 [3.2K]

Answer:

Explanation:

An appellate court will reverse a lower court’s decision on the basis of the facts only

when the finding is clearly erroneous (that is, when it is contrary to the evidence

presented at trial) or when there is no evidence to support the finding. Appellate courts

normally defer to a trial court’s decision with regard to the facts of a case, however, for

several reasons. First, trial court judges and juries have the opportunity to observe

witnesses and tangible evidence first hand. The appellate court sees only a cold record of

the trial court proceedings and therefore cannot make the kind of judgments about the

credibility of witnesses and the persuasiveness of evidence that can be gleaned only from

firsthand experience. Second, as occurs when there is no jury and the case is heard by a

judge, trial judges routinely sit as fact finders. As a result, they develop a particular

expertise in determining what kind of evidence and testimony is reliable and what kind is not

3 0

3 years ago

Yozamba Technology has two divisions, Consumer and Commercial, and two corporate service departments, Tech Support and Purchasin

kipiarov [429]

Answer:

Yozamba Technology

Divisional Income Statements:

Consumer Commercial Total

Revenues $7,430,000 $6,184,000 $13,614,000

Cost of goods sold 4,123,000 3,125,000 7,248,000

Gross profit $3,307,000 $3,059,000 $6,366,000

Operating expenses 1,465,000 1,546,000 3,011,000

Corporate expenses:

Tech Support 322,500 193,500 516,000

Purchasing 31,360 58,240 89,600

Other corporate administrative expenses 560,000

Total expenses $1,818,860 $1,797,740 $4,176,600

Net income (loss) $1,488,140 $1,261,260 $2,189,400

Explanation:

a) Data and Calculations:

Corporate expenses for the year ended December 31, 20Y7:

Tech Support Department $516,000 Number of computers

Purchasing Department 89,600 Number of POs

Other corporate administrative expenses 560,000

Total corporate expense $1,165,600

Usage of Service:

Tech Support Purchasing

Consumer Division 375 computers 1,960 purchase order

Commercial Division 225 3,640

Total 600 computers 5,600 purchase order

Overhead Rates:

Tech Support = $860 per computer ($516,000/600)

Purchase = $16 per purchase order ($89,600/5,600)

Allocation of Corporate Expenses:

Tech Support Purchasing Total

Consumer Division $322,500 $31,360 353,860

(375 * $860) (1,960 * $16)

Commercial Division 193,500 58,240 251,740

(225 * $860) (3,640 * $16)

Total $516,000 $89,600 $605,600

3 0

3 years ago

. You have room for up to two fruit-bearing trees in your garden. The fruit trees that can grow in your garden are either apple,

Alina [70]

Answer:

you should have 2 apple trees

Explanation:

you can have savings costs net payoff

no tree at all 0 0 0

1 apple tree $130 $100 $30

1 orange tree $90 $70 $20

1 pear tree $145 $120 $25

2 apple trees $260 $200 $60

2 orange trees $180 $140 $40

2 pear trees $290 $240 $50

1 apple + 1 pear tree $275 $220 $55

1 apple + 1 orange tree $220 $170 $50

1 orange + 1 pear tree $235 $190 $45

8 0

3 years ago