1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
UkoKoshka [18]
3 years ago
12

Comanic Corp. has common stock of $5,400,000, retained earnings of $2,000,000, unrealized gains on trading securities of $100,00

and unrealized losses on available for sale securities of $200,000. What is the total amount of its stockholders equity?
Business
1 answer:
aalyn [17]3 years ago
6 0

Answer:

$7,200,000

Explanation:

Given that,

Common stock = $5,400,000

Retained earnings = $2,000,000

Unrealized gains on trading securities = $100,000

Unrealized losses on available for sale securities = $200,000

Stockholder's equity:

= Common stock + Retained earnings - Unrealized losses on available for sale securities

= $5,400,000 + $2,000,000 - $200,000

= $7,200,000

Note that:

Unrealized gains on trading securities should be presented on the income statement. Hence, the ending retained earnings balance was already been adjusted with Unrealized gains (losses) on trading securities.

Unrealized losses on available for sale securities not included in the income  statement and it directly goes to the balance sheet.

You might be interested in
Alysha Johnson is a manager who communicates effectively, successfully motivates and leads her workers, and allows them leeway i
Alexeev081 [22]

Answer: strategic techniques

Explanation:

Alysha Johnson is a manager who communicates effectively, successfully motivates and leads her workers, and allows them leeway in making decisions. Copeland is said to have good strategic techniques.

Strategic management techniques is necessary for organizations as it helps them plan and also implement projects in a.way that the company's mission and goals.will be achievable. Copeland is utilizing this technique well as he communicates with the workers so that company's goals can be achieved.

8 0
2 years ago
The inventory of Royal Decking consisted of five products. Information about the December 31, 2018, inventory is as follows: Per
vichka [17]

Answer:

Explanation:

    Selling Price  Commission   Shipping       NRV                   Cost

A         220       220*10% = 22     200*5% = 10  (220-22-10) 188   200

B         260        260*10%=26       240*5%=12  (260-26-12) 222    240

C         240        240*10%=24        120*5%=6      (240-24-6) 210    120

D         300        300*10%=30        160*5%=8    (300-30-8) 262     160

E         140          140*10%= 14         100*5%=5    (140-14-5) 121        100

Therefore ,the unit inventory valuation at lower of cost or net realizable value =

Products         Valuation

A                           188

B                           222

C                           120

D                           160

E                            100

3 0
2 years ago
The Hound Dog Bus Company contemplates expanding its Virginia operations by offering services from Fairfax to Arlington. The tot
zaharov [31]

Answer:

The Hound Dog Bus Company should not expand

Explanation:

The decision to expand should be made if the incremental (marginal) cost to be incurred is less than the incremental revenue to be earned.

Incremental revenue = $60 (given)

Incremental cost = total cost - already incurred (non-incremental) cost

= 120 - 50 = $70.

Since the incremental revenue ($60) is less than the incremental cost ($70), the company should not expand.

7 0
3 years ago
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received
Alenkasestr [34]

Answer:

a. $44,200

b. $44,684

Explanation:

To calculate after-tax costs we just need to deduct the tax saving amount from the pre-tax amount. The tax saving amount can be calculated bt multiplying the pre-tax amount into the tax rate

Requirement A (If she pays the $65,000 in December)

After-tax cost = Pre tax cost - PV of tax saving

After-tax cost = 65,000 - 20,800

After-tax cost = $44,200

working

Tax saving = $65,000 x 32%

Tax saving =  $20,800

Requirement B  (If she pays the $65,000 in January)

After tax cost = $65,000 - $20,315

After tax cost = $44,684

working

Tax saving = $65,000 x 35%

Tax saving = $22,750

Pv of tax saving = $22,750 x 0.893

Pv of tax saving = $20,316

7 0
3 years ago
at the end of its 2021 fiscal year, a triggering event caused janero corporation to perform an impairment test for one of its ma
svet-max [94.6K]

The manufacturing facility is impaired when the book value exceeds the total of estimated undiscounted future cash flows.

The manufacturing facility has an impairment loss of 15 million dollars because its book value exceeds undiscounted future cash flows.

<h3>When fair value exceeds book value, what happens?</h3>

An asset's value is "impaired" if its book value is higher than its fair value. Additionally, you are required to include the impairment loss in your income from continuing operations. The impaired asset's carrying value on your balance sheet is also affected by impairment losses.

<h3>How is an asset's impairment determined?</h3>

Resources are viewed as weakened when the book worth, or net conveying esteem, surpasses expected future incomes. The impairment must be reflected in the financial statements if it is permanent.

Learn more about book value here:

brainly.com/question/23057744

#SPJ4

8 0
9 months ago
Other questions:
  • Smith Company manufactures washing machines in their own facility. They sell them to stores like Best Buy and Lowes for ultimate
    7·1 answer
  • Although people across generations tend to have different experiences and develop different tastes, they tend to share important
    6·1 answer
  • Vicenzo is the sole owner and manager of a startup company. As the business grows, he finds it more difficult to fulfill the nee
    15·1 answer
  • Many routine business messages involve such things as teams coordinating their assignments, customers buying products, and colle
    13·2 answers
  • At the end of the current year, Accounts Receivable has a balance of $675,000; Allowance for Doubtful Accounts has a debit balan
    12·1 answer
  • Which of these is the BEST example of a person who is an entrepreneur?
    5·2 answers
  • The economic effect of an expense is incurred when the benefit expires or is used up not when cash is paid true or false
    7·1 answer
  • Question: According to a Honda press release on October 23, 2006, sales of the fuel-efficient four-cylinder Honda Civic rose by
    7·1 answer
  • The Fashion Shoe Company operates a chain of women’s shoe shops that carry many styles of shoes that are all sold at the same pr
    11·1 answer
  • ) a substance decays 22ach day. after 7 days, there are 9 milligrams of the substance remaining. how many milligrams were there
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!