All categories

3 years ago

These are selected account balances on December 31, 2014.

Business

1 answer:

zloy xaker [14]3 years ago

6 0

Answer:

$1,150,000

Explanation:

Two categories of operatng assets are presented on the balance sheet: Property, plant and equipment; intangible assets.

They are presented at their acquisition cost (historical cost).

The balance sheet uses one line item for property, plant and equipment and presented the details in the notes.

Initially are recorded at acquisition cost or original cost, that include all cost normally necessary to acquire an asset and prepare it for its intended use.

A depreciation is an allocation of the original cost of an asset to the periods benefited by its use.

In this case, he total amount of property, plant, and equipment that will appear on the balance sheet is $1,150,000 because:

Land $100,000 + Buildings 800,000 + Equipment 450,000 + Furniture 100,000 - Accumulated Depreciation 300,000 = $1,150,000.

You might be interested in

Current Position Analysis The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal y

weqwewe [10]

Answer:

a. net working capital (current year) = $1,170,000

net working capital (previous year) = $800,000

b. current ratio (current year) = 2.3

current ratio (previous year) = 2

c. quick ratio (current year) = 1.91

quick ratio (previous year) = 1.66

Explanation:

net working capital = current assets - current liabilities

current assets = $2,070,000, $1,600,000

current liabilities = $900,000, $800,000

net working capital (current year) = $2,070,000 - $900,000 = $1,170,000

net working capital (previous year) = $1,600,000 - $800,000 = $800,000

current ratio = current assets / current liabilities

current ratio (current year) = $2,070,000 / $900,000 = 2.3

current ratio (previous year) = $1,600,000 / $800,000 = 2

quick ratio = (current assets - inventory) / current liabilities

inventory = $351,900, $272,000

quick ratio (current year) = ($2,070,000 - $351,900) / $900,000 = 1.91

quick ratio (previous year) = ($1,600,000 - $272,000) / $800,000 = 1.66

8 0

3 years ago

Imagine you are writing a classroom management program. In which of the following scenarios will dynamic data structures approac

vlada-n [284]

Answer: e. . Both b and c

Explanation:

When using a Dynamic Data Structure, the structure in place is not fixed but rather has an allowance for growth or shrinkage. The capacity has an allowance to take more data or less data as it is operated on.

When using the Dynamic data structure approach for the classroom management program therefore, there must be an allowance for an increase in students. This is why options B and C are correct because the classroom has more capacity than students and the school has more classroom capacity than classrooms utilized respectively.

6 0

4 years ago

The annual inventory of The Bike Shop Inc. shows the following information for mountain bikes: DATE QUANTITY COST TOTAL January

Nesterboy [21]

Answer:

$4,536

Explanation:

LIFO assumes that the units to arrive last will be sold first. Hence inventory valuation is based on the prices of earlier units.

Ending Inventory = 36 x $126 = $4,536

The value of the ending inventory using the LIFO method of inventory pricing is $4,536.

5 0

3 years ago

Your rich aunt has promised to give you $5,000 per year at the end of each of the next four years to help you pay for college. U

Liula [17]

Answer:

Nour rich aunt has promised to give you $5,000 per year at the end of each of the next four years to help you pay for college. Using a discount rate of 7%, what is the present value of the gift. If the JPEG file doesn't open, Appendix A in your book has full Present Value tables. PV.Tables-Lumo-Ann PG 54,278 $12,411 $20,000 $16.935 Table A-1 Present Value of $1 Preser Periods 1% 2% 3% 4% 5% 6% 7% 1 2 3 4 5 0.990 0.980 0.971 0.961 0.951 0.971 0.943 0.915 0.888 0.863 0.962 0.925 0.889 0.855 0.822 0.952 0.907 0.864 0.823 0.784 0.943 0.890 0.840 0.792 0.747 0.935 0.873 0.816 0.763 0.713 0.980 0.961 0.942 0.924 0.906 0.888 0.871 0.853 0.837 0.820 OOOOO OOOOO 6 7 8 9 10 0.942 0.93 0.923 0.914 0.905 0.837 0.813 0.789 0.766 0.744 0.790 0.760 0.731 0.703 0.676 0.746 0.711 0.672 0.645 0.614 0.705 0.665 0.627 0.592 0.558 0.666 0.623 0.582 0.544 0.508 Table A-2 Present Value of Ordinary Annuity of $1 Pre Periods 15 2 3% 4% 5% 65 7% 0.943 1 2 0980 1942 2.884 3.808 4.713 0.952 1.886 2.775 3.630 4.452 0.952 1859 2.723 3.546 4320 0915 1.80 2624 2673 3.065 4.212 4 5 3387 0.990 1970 2.941 3.902 4.853 5.795 6.728 7,652 8.566 4100 0.971 1.91 2620 3.712 4.580 5.417 6.210 7020 7.796 8.530 6 7 5.601 6.472 7.325 8.16 5.242 6.002 6.733 7.435 8.111 5076 5.786 6.463 7.108 7.722 4.917 5.582 6.210 6.802 7.50 4.767 5.389 5.971 6.515 7.024 9 10 11 10 9.787 9.253 8760 8.306 7.39

7 0

3 years ago

Car owners can incur a number of costs. Suppose that your parents are willing to pay for the fixed costs of your car, but you mu

xz_007 [3.2K]

Answer:

1. Monthly car payment ( fixed cost)

2. gasoline (variable cost)

3. oil changes (Variable cost)

4. insurance (fixed cost)

5. License plate (Fixed cost)

6. car registration (fixed cost)

7. New tires (variable cost)

8. toll road charges (variable cost)

9. car wash cost (variable cost)

Explanation:

First, you have to know that there are two main kinds of costs that a company or and individual can incur, and they are; fixed cost or variable cost.

Fixed cost:

A fixed cost remains the same, no matter the volume of output. In a company production cost, a fixed cost does not change no matter how many goods or services the company produces. Examples are rent, salaries, insurances, utilities etc. Even though a company does not make any production within a certain month, it will still have to pay the rent for its apartment and equipment, and the workers must be paid too. so the cost remains the same whether output increases or decreases. In our example, the fixed cost on the car is one that does not change no matter how much time the car is used within that month or period, and they include; monthly car payment, which must have a certain fixed amount during the first payment, insurance is fixed, license plates which is a one-time payment is fixed, car registration (annual) is also fixed, how the car was used or not used that year does not affect the annual registration.

variable cost:

A variable cost is one that changes as the volume of production or output change. Example if a company usually incurs a cost of $2 on leather for producing a pair of shoes and it usually produces 1000 pairs in a month, it means its monthly cost for leather is $2000 dollars. If it produces 4000 pairs this month, the cost of production increases to $8000 for the month so it varies with production volume. In our example, the variable cost on the car are costs that change periodically with how the car is used; gasoline, oil changes, toll road charges (which depends overall on how many times the car is used on the road) and car wash cost are all variable costs.

4 0

4 years ago