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3 years ago

Kohler Corporation reports the following components of stockholdersâ equity on December 31, 2016:

Business

1 answer:

Flauer [41]3 years ago

4 0

Answer:

Explanation:

1. Jan 1

Paid Up Capital (6,000*15) Dr.$ 90,000

Paid in Capital in excess of par value Dr.$30,000

Treasury stock (6,000*20) Cr.$ 120,000

Jan 5. Dividend (55,000-6,0000=49,000*2) Dr.$98,000

Dividend Payable Cr.$98,000

Feb 28. Dividend Payable Dr.$98,000

Bank Cr.$98,000

July 6 Bank (2,250*24) Dr.$54,000

Paid up capital (2,250*15) Cr.$33,750

Paid in capital in excess of par (2250*9) Cr.$20,250

Aug 22 Cash (3,750*17) Dr.$63,750

Paid up capital (3,750*15) Cr.$ 56,250

Paid in capital in excess of par Cr.$7,500

Sept 5. Dividend (49,000+2,250+3,750)*2 Dr.$110,000

Divided Payable Cr.$110,000

Oct 28. Dividend Payable Dr.$110,000

Cash Cr.$110,000

Dec 31 Income Summary Account Dr.$428,000

Retained Earnings cr.$428,000

2.Statement of retained Earnings

Retained Earnings at beginning $460,000

Add; Net income for the year $428,000

Less: Dividends paid(98,000+110,000) ($208,000)

Retained earnings as at December 31,2017 $680,000

3. Stockholders' Equity Section of Balance Sheet

Retained earnings $680,000

Paid Up Capital Outstanding

(825,000-90,000+33,750+56,250) $915,000

Paid in capital in excess of par

(70,000-30,000+20250+7500) $67,750

Total stockholders' equity $1,662,750

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Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe

My name is Ann [436]

Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe that there aren't any jobs available. You would be counted as discouraged worker

Explanation:

Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe that there aren't any jobs available. You would be counted as

A discouraged worker is an individual who has given up looking for employment even though they are perfectly eligible to take up a job but to the repeated failure in finding a job they have then ceased their search for finding an employment.

Discouraged workers have stopped looking for employment opportunities because they feel that their is no job that suits their qualifications

Since they have stopped searching they are not included in the labor force hence when we see the statistics for unemployment these people are not included there also .So they are called Discouraged Workers

The correct formula for calculating the unemployment rate

(

D) Neither formula is used to calculate the unemployment rate

The formula for Unemployment rate is

==> U=Unemployed People/Labor force*100

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3 years ago

Suppose Country A and Country B each have the same real Gross Domestic Product (GDP), equal to $440 billion. Country A has 100 m

Gennadij [26K]

Answer:

1. higher in Country A

Explanation:

Given: Gross domestic product (GDP)= $440 billion.

Country A has 100 million people.

Country B has 175 million people.

Real Gross Domestic Product (GDP): It is defined as the entire output produced annually that includes factors such as inflation and is adjusted for price changes.

Per capita real Gross Domestic Product (GDP): It gives the annual salary for the country and shows the quality of living.

Now calculating per capita real Gross Domestic Product (GDP) for both the countries.

Formula; Per capita GDP= $\frac{GDP}{Population}$

Country A

⇒ Per capita GDP= $\frac{440\ billion}{100\ million}$

We know one billion= 1000 million.

⇒ Per capita GDP= $\frac{440\times 1000}{100}$

∴ Per capita GDP= $\$4400\ million$

Country B

⇒ Per capita GDP= $\frac{440\times 1000}{175}$

∴ Per capita GDP= $\$ 2514.28 \ million$

Hence, comparing both Per capita GDP of country A and B will get Country A have higher per capita GDP.

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3 years ago

If a gain of $7,610 is realized in selling (for cash) office equipment having a book value of $55,485, find the total amount rep

OLga [1]

Answer:

total amount reported in the cash flow from investing activities = book value + realized gain = $55,485 + $7,610 = $63,095

Explanation:

In order for this specific gain to be reported only once in the cash flow statement, it must first be deducted from the cash flow from operating activities as an adjustment to net income.

4 0

4 years ago

Refer to the information given below:

lozanna [386]

Answer and Explanation:

The preparation of the bank reconcillation statement is shown below:

Balance per banks $9,812 Balance per books $9,345

Add: Add

Deposit in transit $1,244 Interest $110

Less: Less:

Outstanding checks -$1,906 Bank charges -$38

Error correction -$267

($622 - $355)

Reconciled balance $9,150 Reconciled balance $9,150

4 0

3 years ago

Balance Sheet Below are items that may appear on the balance sheet. Required: Match each item with its appropriate classificatio

Lerok [7]

Answer:

Item Classification

1. Buildings - Property, plant, and equipment

2. Copyright - Intangible assets

3. Supplies - Current assets

4. Unearned service revenue - Current liabilities

5. Prepaid insurance - Current assets

6. Common stock - Contributed capital

7. Rent payable - Current liabilities

8. Accounts receivable - Current assets

9. Allowance for doubtful accounts - Retained earnings

10 Bonds payable - Current liabilities

Explanation:

A. Property, plant, and equipment

Assets of long term nature that are physical fall in this category.

B. Intangible assets

Assets that are of long term and do not have a physical nature fall in this category

C. Current assets

Assets of a short term nature, existing within a period of 12 months are in this category.

D. Current liabilities

Liabilities or obligations due within a period of 12 months fall in this category.

E. Current assets

Assets of a short term nature, existing within a period of 12 months are in this category.

F. Contributed capital

This involves all capital raised from owners of the company excluding reserves attributed to them.

G. Retained earnings

This is the reserve created out of profit earned during the year. Include incomes and expenses here.

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3 years ago