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Fudgin [204]
3 years ago
14

Jenkins Inc., prepared its financial statement for 2008 based on the information given here. The company had cash worth $1,234,

inventory worth $13,480, and accounts receivables of $7,789. The company's net fixed assets are $42,331, and other assets are $1,822. It had accounts payables of $9,558, notes payables of $2,756, common stock of $22,000, and retained earnings of $14,008. How much long-term debt does the firm have?
Business
1 answer:
marishachu [46]3 years ago
7 0

Answer:

$18,334

Explanation:

Given the following :

Cash worth = $1,234

Inventory worth = $13,480

Accounts receivable worth = $7,789

Net fixed asset = $42,331

Other assets = $1,822

Accounts payables = $9,558

Notes payables = $2,756

common stock = $22,000

Retained earnings = $14,008

Long term debt :

Total asset - current liability - stockholders equity

Total asset =current asset + net fixed asset + other asset

Current asset = cash worth + inventory worth + accounts receivables

Current asset = $(1234 + 13480 + 7789) = $22503

Total asset = $(22503 + 42331 + 1822) = $66656

Current liabilities = Accounts payables + notes payables

Current liabilities = $(9558 + 2756) = $12314

Stockholders equity = $(22,000 + 14,008) = $36,008

Long term debt :

Total asset - current liability - stockholders equity

$(66656 - 12314 - 36008) = $18,334

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County Medical Center received unrestricted contributions of $22,000. The hospital used the contributions to support general ser
umka21 [38]

Answer:

County Medical Center

These unrestricted contributions of $22,000 used to support general services would be reported on the statement of cash flows as:

cash from operating activities.

Explanation:

Unrestricted contributions received by the County Medical Center are funds or other assets given to the Center with no restriction on their use.  Unrestricted contributions are usually directed at the funding of operational expenses, as the County Medical Center demonstrated.  Therefore, they are listed under operating activities in the Statement of Cash Flows.

6 0
3 years ago
In January, Donna’s dad, who is 75 years old, agreed in an email with his financial advisor that he wanted to take a distributio
andrey2020 [161]

I believe this shouldn't affect him since he is 75 years old, past the 65 retirement age. So the $50K from this IRA can be withdrawn tax free. If he moved the funds to a checking account BEFORE 65, then it would be taxable. Check with a financial advisor.

3 0
3 years ago
You are a business loan has a variable interest rate next month the annual rate will jump from 6.3% to 7.8%. Your balance is 1,6
sweet [91]

Answer: $‭2,025‬

Explanation:

Your monthly payment based on the rate of 6.3% per annum is:

= (6.3% * 1,620,000 ) / 12 months

= 102,060‬ / 12

= $‭8,505‬

Now that the rate has gone up to 7.8% per annum, the payment is:

=  (7.8% * 1,620,000 ) / 12 months

= ‭126,360‬ / 12

= $‭10,530‬

Payment went up by:

= ‭10,530‬ - 8,505

= $‭2,025‬

3 0
2 years ago
Who pays taxes in a corperation?
atroni [7]

Answer:

<em>Companies, both private and public which are registered in India under the Companies Act 1956, are liable to pay corporate tax. For the assessment year 2014-15, domestic companies are taxed at the rate of 30%.</em>

Explanation:

<h3><em>I </em><em>hope</em><em> this</em><em> helps</em><em>!</em></h3>
7 0
1 year ago
Joining a Meetup group in your area allows you to
kherson [118]

Answer:

The correct answer would be A, Find out what your competitors are doing.

Explanation:

A meetup group in an area is a meet and greet event where people of the area meet with each other. New people make acquaintances with each other and come to know about each other.  Already known people share their latest happenings. It is a casual form of meeting where people may know about what their competitors are doing at the moment in their business. This may help you in drawing your upcoming strategies in the market. This is the best way to get to know about the competitors.

7 0
3 years ago
Read 2 more answers
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