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meriva
3 years ago
5

Rice Co. was incorporated on January 1, Year 6, with $500,000 from the issuance of stock and borrowed funds of $75,000. During t

he first year of operations, net income was $25,000. On December 15, Rice paid a $2,000 cash dividend. No additional activities affected equity in Year 6. At December 31, Year 6, Rice's liabilities had increased to $94,000. In Rice's December 31, Year 6 balance sheet, total assets should be reported atA) $600,000B) $617,000C) $598,000D) $692,000
Business
1 answer:
Mkey [24]3 years ago
8 0

Answer:

B) $617,000

Explanation:

Issuance capital of 500,000 shall remain constant. Out of the current year net earnings 25000 we are paying 2000 as dividend so, that adds to the owners equity = 23000.

Total liabilities = total assets = 500000 + 23000 + 94000 = 617000

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In 2017, almost ________ of americans only used a mobile device to access the internet.
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4 0
1 year ago
g Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Depa
wel

Answer:

Explanation:

Given that :

Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.

Fixed Overhead Costs                        Variable Overhead Costs

Supervision              $94,440            Indirect labor              $174,570          

Depreciation             73,320              Indirect materials          75,900

Insurance                   25,560            Repairs                            53,130

Rent                            21,120              Utilities                            94,875

Property taxes            20,880           Lubricants                       37,950

                               $235,320                                                 $436,425

It is estimated that direct labor hours worked each month will range from 24,900 to 36,900 hours.

During October, 24,900 direct labor hours were worked and the following overhead costs were incurred.

Fixed overhead costs: Supervision $7,870, Depreciation $6,110, Insurance $2,095, Rent $1,760, and Property taxes $1,740.

Variable overhead costs: Indirect labor $12,544, Indirect materials, $4,500, Repairs $3,406, Utilities $6,545, and Lubricants $2,740.

The objective is to prepare a monthly manufacturing overhead flexible budget for each increment of 4,000 direct labor hours over the relevant range for the year ending December 31, 2020. (List variable costs before fixed costs.)

The monthly manufacturing overhead flexible budget can be computed as

follows:

                                       Bumblebee Company

                                      Packaging Department

                     Monthly manufacturing overhead  Flexible

                     Budget For the year  ended December 31,2017

Particulars                           Operating Capacity(Direct Labor Hours)

                                          24900            28900        32900       36900

Variable Factory -

Overhead Costs :

Indirect labor                      11454              13294          15134          16974

Indirect materials                4980              5780          6580           7380

Repairs                                3486              4046          4606           5166

Utilities                                6225               7225          8225          9225

Lubricants                           2490               2890          3290          3690

<u>Total Variable Factory-                                                                                 </u>

<u>Overhead Cost                28635               33235        37835       42435  </u>

Fixed Factory -

Overhead Cost :

Supervision                      7870              7870             7870         7870

Depreciation                     6110               6110              6110          6110

Insurance                          2130              2130              2130         2130

Rent                                   1760              1760              1760         1760

Property Taxes                 1740              1740              1740          1740

<u>Total Fixed Factory -                                                                                </u>

<u>Overhead Cost:              19610           19610             19610       19610  </u>

<u>Total Factory -                                                                                           </u>

<u>Overhead Cost (A+B)    48245           52845           57445     62045  </u>

8 0
3 years ago
Ou have $11,122.76 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until yo
Sav [38]
This one is tricky, only because you aren't sure if they are adding the percentage before you deposit 4,000 more, or after.  Since both are annually.
But I would add 11,122.76 and 4,000 =15,122.76 add 12% which is 1814.73 making your total for the first year = 16,937.49. 

Then assume it again, you add 4,000.  That's 20,937.49

add 12% of 20,937.49 which is 2512.50 so that equals =23,449.99 by the end of year 2.

so add 4,000 again, that's 27,449.99

find 12% and add it to get =3294 add that to the total =30,743.99 by year 3.

(I'm sure they want you to round, which I keep doing with my decimals, but it'll probably go faster if you round ahead of time, but I'm trying to be accurate)

Keep going....

34,743.99 which 12% added is 4169 or a total of $38,912.99 by end of year 4.

add 4,000 to get =42,912.99 and 12% that's roughly a total of 48,063 rounded by the end of year 5.

52,063  at 12% 58,310 by year 6.

58,000 add 12% = 64,960 at end of year 7
68,960 add 12%= 77235 at year 8

81,235 add 12% =90,983 by year 9

94,983 add 12% =106,380 by year 10 (this is where you can assume that they'd want you to double it and it's be 20 years and 210,000.  But in real math, the amount is increasing so much because it's 12% of the current balance)

123,626.56 year 11

142,942 by year 12

164,574 by year 13

188,803 by year 14

203, 939 by year 15

So you'd go over 210 by year 16.

Now again, this depends if they add the 12% before or after you deposit 4,000 each year.  It also has to have an easier equation, but to be accurate I did it this way.  I'm sure that they want you to do like x=years and you'd go 11,122.76+4,000 multiplied by 12% and then try different years to see the number you get until you'd come to 16.





8 0
3 years ago
If testing cannot be completed any earlier than four days after the prototype has been built, what type of lag exists?
Dahasolnce [82]

Answer: finish to finish

Explanation:

A lag is minimum amount of time that is required for a dependent activity have to be delayed to either start or end.

If testing cannot be completed any earlier than four days after the prototype has been built, the type of lag that exists is finish to finish.

6 0
3 years ago
The House Subcommittee on Oversight and Investigations made its recommendations after looking into failures at each of the follo
zubka84 [21]

Answer:

The correct answer is ENRON.

Explanation:

Going back to December 2, 2001, is going back to one of the biggest scandals in economic history. That day, the energy company Enron declared bankruptcy. First global energy distributor, invoiced 100,000 million dollars annually.

Jeffrey Skilling, the mind behind accounting, did his last master move badly. Before the bankruptcy they were seen coming, he resigned his position alleging family reasons and sold the shares he had in the company. Four months later came bankruptcy. Supposedly, he didn't know anything about the critical situation of the company. He did not strain.

In 2004 he was charged with about thirty charges, including operating with confidential information, by selling about 60 million dollars in Enron shares before bankruptcy, deceiving the auditor or conspiracy.

7 0
3 years ago
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