Answer:
a. $288,000
b. $190,000
Explanation:
The Accounting equation: Assets = Liabilities + Equity
a. Assets = Liabilities + Equity
382,000 = 94,000 + Equity
Equity = 382,000 - 94,000
= $288,000
b. Equity as of December 20Y9.
Account for the changes in assets and equity:
Assets = Liabilities + Equity
(382,000 - 63,000) = (94,000 + 35,000) + Equity
319,000 = 129,000 + Equity
Equity = 319,000 - 129,000
= $190,000
Hariette should choose cash basis of accounting when she runs the profit and loss report. A company's reporting guidelines and practices for revenues and expenses make up its accounting method. Cash accounting and accrual accounting are the two primary accounting techniques.
Revenues and costs are recorded in cash accounting when they are received and paid. There are three different accounting methods: modified cash basis, cash basis, and accrual basis. Let's briefly review the fundamentals before we discuss which types of firms use certain accounting techniques.
If you only consider popularity, accrual accounting comes out on top since it is both the most popular and the most accurate techniques.
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Answer:
the cost of Human Resources would be allocated to Machining is $480,000
Explanation:
The computation of the cost of Human Resources would be allocated to Machining is given below:
= Cost of the human resource × machining department ÷ (machining department + assembly department)
= $1,200,000 × 100 ÷ (100 + 150)
= $480,000
hence, the cost of Human Resources would be allocated to Machining is $480,000
Answer:
A 10-year, $1,000 face value, zero coupon bond.
Explanation:
Zero coupon bonds are sold at a deep discount, and do not pay coupons, only pay the full par value price at maturity.
Zero coupon bonds are riskier than other types of bonds because they are subject to interest tax risk: this means that even if the bond does not pay coupons, the IRS still computes an imputed interest that the bond would have received, and charges an income tax over it.
If the bondholder of a zero coupon sells the bond before maturity, the risk of having paid more in both income taxes on imputed intersest, plus the initial price of the bond itself, than the gain from the sale, is very high.
