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mash [69]
3 years ago
8

At the beginning of the year (January 1), Buffalo Drilling has $10,000 of common stock outstanding and retained earnings of $7,0

00. During the year, Buffalo reports net income of $7,300 and pays dividends of $2,000. In addition, Buffalo issues additional common stock for $6,800.Prepare the statement of Shareholer'sequity in the end of the year.
Business
1 answer:
GarryVolchara [31]3 years ago
3 0

Answer:

Shareholders Equity  

INITIAL Shareholders Equity  $ 17.000

Common Stock  $ 6.800

Retained Earnings  $ 5.300

FINAL Shareholders Equity $ 29.100

Explanation:

Retained Earnings Report  

Opening retained earnings $ 7,000

Add: Net Income $ 7,300

Subtotal $ 14,300

Less: Dividens -$ 2,000

Total $ 12,300

Stockholders' Equity   INITIAL   FINAL  

Common Stock  $ 10,000 $ 16,800    

Retained Earnings  $ 7,000 $ 12,300

TOTAL EQUITY  $ 17,000 $ 29,100

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abruzzese [7]

Answer:

300 A

Explanation:

(SQ - AQ) SP

(6000 - 6300)1

300 A

It means that actual quantity produced is worse than expected quantity.

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4 years ago
Every T account has two sides, credit and credit side.<br><br>True<br>False​
ioda

Answer:

False

Explanation:

The two sides are DEBIT and credit.

3 0
3 years ago
What term dd thorstein veblen use to describe the fundmental change in people's orientation to the economy?
Sedbober [7]

Conspicous Consumption was the term used by thorstein veblen to describe fundamental change in people's orientation to the economy.

Who was Thorstein Veblen?

Thorstein Veblen was a famous sociologist and economist who wrote the book The Theory of the Leisure Class. He wrote about the relationship between the economy, culture, and society.

Conspicuous consumption is the act of acquiring things or services specifically with the intention of flaunting one's affluence. When publicly displayed products and services are too expensive for other people in a person's class, conspicuous consumption is a way to demonstrate one's social position. Although it is frequently associated with the wealthy, this type of consumerism can occur in any income class.

The complete question is :

What term did Thorstein Veblen use to describe the fundamental change in people's orientation to the economy from producing goods to using them?

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6 0
2 years ago
Route Canal Shipping Company has the following schedule for aging of accounts receivable:Age of Receivables April 30, 20X1 (1) (
m_a_m_a [10]

Answer:

Explanation:

The formula to compute the percentage of amount due for each month is shown below:

= (Month wise amount due) ÷ (Total receivables) × 100

For April:

= ($156,240) ÷ ($390,600) × 100

= 40%

For March:

= ($78,120) ÷ ($390,600) × 100

= 20%

For February:

= ($117,180) ÷ ($390,600) × 100

= 30%

For January:

= ($39,060) ÷ ($390,600) × 100

= 10%

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3 years ago
Changes in property, plant and equipment relate to the ______ activities on the statement of cash flows. Multiple choice questio
inysia [295]

Changes in property, plant, and equipment related to the investing activities on the statement of cash flows.

The cash flow statement reveals how much money is made or spent on operating, investing, and financing activities during a certain time period, bridging the gap between the income statement and the balance sheet.

The cash generated or spent in relation to investment activities is shown in the cash flow from investing activities portion of the cash flow statement.

Buying tangible assets, investing in securities, or selling securities or assets are all examples of investing activity.

If management is investing in the long-term health of the company, negative cash flow from investing operations could not be a bad indicator.

Hence, Changes in property, plant, and equipment related to the investing activities on the statement of cash flows.

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4 0
2 years ago
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