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melisa1 [442]
3 years ago
10

The Blumer Company entered into the following transactions during 2012: 1. The company was started with $22,000 of common stock

issued to investors for cash. 2. On July 1, the company purchased land that cost $15,500 cash. 3. There were $700 of supplies purchased on account. 4. Sales on account amounted to $9,500. 5. Cash collections of receivables were $5,500. 6. On October 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on October 1. 7. Supplies on hand as of December 31, 2010 amounted to $225. The adjusting entry necessary to record the supplies expense would result in a: $700 increase in assets and liabilities. $700 decrease in assets and equity. $475 decrease in assets and equity. $475 increase in assets and liabilities. The amount of insurance expense reported on the income statement for 2012 would be: $900. $2,400. $300. $600. The amount of cash flow from operating activities would be: $1,900. $8,400. $3,100. $5,400. The amount of total liabilities appearing on the December 31, 2012 balance sheet would be: $3,600. $4,000. $475. $700.
Business
1 answer:
ahrayia [7]3 years ago
8 0
Where is the question?
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There are two main ways to measure social inequality, they are: Inequality of conditions refers to the unequal distribution of i
butalik [34]

Answer:

True.

Explanation:

Social inequality can be defined as an existence of unequal rewards and opportunities for different social status or classes within a group of people in a society.

Generally, social inequality is peculiar to a society that is grouped based on race, hierarchy of class, religion, culture and gender. A social inequality is characterized by unequal distribution of wealth, punishment, rewards, opportunities and goods or services to the various classes.

There are two main ways to measure social inequality, they are:

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4 0
3 years ago
An example of communicating category membership by relying on the product descriptor is ford's positioning of its freestyle auto
hoa [83]
That statement Is true

In marketing, product descriptor refers to a structured format that displayed some information about a specific product.
In this case, ford tried to create a unique product descriptor such as "sports wagon" to tell its consumers that their product has the characteristic of a sport and a wagon
7 0
3 years ago
Golden Eye Co., a hi-tech satellite company, has asked you to value the company for possible cross-listing in the U.S. The compa
EastWind [94]

Answer:

Explanation:

Let's first determine the free cash flow of the firm

Particulars                            Years

                          1                         2                   3

EBIT                  540                   680                750

<u>Tax at 36%    (0.36*540)       (0.36*680)        (0.36*750)    </u>

Less:               345.6                  435.2            480

Net Capital -

Spending            150                   170                 190

<u>Change in NWC    70                    75                  80      </u>

Less:                    125.6              190.2                210

The terminal value at the end of T =(3  years) is:

= \dfrac{Free \ cash \ flow}{unlevered \ cost - expected \ growth  \ rate}

= \dfrac{250}{0.1643-0.04}

= \dfrac{250}{0.1243}

= 2011.26

Finally, the value of the firm can be computed as follows:

Years                  Free Cash Flow        PVIF           PV

1                          125.6                        0.6589        107.88

2                         190.2                        0.7377         140.31

3                          210                           0.6336       133.06

<u>Terminal Value  2011.26                    0.6336        1294.33     </u>

<u>Value of the firm   ⇒                                               $1655.58</u>

5 0
2 years ago
At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b
Firlakuza [10]

Answer: $7,740

Explanation:

Given, At December 31, Accounts receivable = $238,000

Allowance for uncollectible accounts = 3% of (accounts receivable)

∴ Allowance for uncollectible accounts = 3% of ($238,000 )

=$(0.03 ×238,000)                [3% = 0.03]

= $ (7140)

= $7,140

Allowance for uncollectible accounts (credit) before any adjustments= $600

The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts +  $600

= $7,140 +  $600

= $7,740

Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>

5 0
2 years ago
Custom Engines Company has the following estimated costs for the upcoming​ year:
Lelechka [254]

Answer:

$22

Explanation:

The computation of the predetermined manufacturing overhead rate per hour is shown below:

= Total Factory overhead ÷ Estimated labor hours

where,

Total factory overhead is

= Salary of factory supervisor + Heating and lighting costs for factory + Depreciation on factory equipment

= $37,000 + $22,300 + $5,600

= $64,900

And, the machine hours is 2.900

So, the predetermined overhead rate is

= $64,900 ÷ 2,900

= $22

This is the answer but the same is not given in the options

6 0
2 years ago
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