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3 years ago

Ginger Enterprises began the year with total assets of $500,000 and total liabilities of $250,000.

Business

1 answer:

vazorg [7]3 years ago

6 0

Answer:

1. $250,000

2. $273,000

3. $455,000

4. $750,000

Explanation:

We know that

Accounting equation is

Total assets = Total liabilities + Shareholder equity

1. The equity would be

= $500,000 - $250,000

= $250,000

2. The equity would be

Total assets = $500,000 + $100,000 = $600,000

Total liabilities = $250,000 + $77,000 = $327,000

So, the equity is

= $600,000 - $327,000

= $273,000

3. Total assets

Total liabilities = $250,000 + $33,000 = $263,000

Owner equity = $250,000 - $58,000

= $192,000

So, the total assets is

= $263,000 + $192,000

= $455,000

4. Total liabilities equal to

= $1,000,000 - $250,000

= $750,000

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Among the greatest failures of the process of collectivization in China was Group of answer choices trying to convert desert and

Romashka-Z-Leto [24]

Answer:

C. the starvation of up to 35 million people.

Explanation:

Collectivization was first introduced in the USSR by Joseph Stalin between 1929-1933 and his purpose for starting this process was to limit the powers of the Kulaks, who were the rich peasants. The program was also aimed at improving agriculture. China adopted this same policy under the rule of Mao Zedong between 1949-1976. Also known as <em>The Great Leap Forward </em>era, this process sought to make China a socialist economy and also increase productivity in agriculture.

The resultant effect of this process was mass starvation of about 35 million people in 1959. Although the government referred to floods and droughts as the cause of this starvation, it was actually the result of collectivization. When Diang Xiaping came into power in 1978, he instituted reforms in the collectivization process that proved successful.

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2 years ago

Frantic Fast Foods had earnings after taxes of $900,000 in 20X1 with 301,000 shares outstanding. On January 1, 20X2, the firm is

Semmy [17]

Answer:

A.$2.99

B.$1.15

Explanation:

Frantic Fast Foods

A.Computation of the earnings per share for the year 20X

Using this formula

Earnings per Share=Earnings after Taxes/Shares Outstanding

Let plug in the formula

900,000/301,000

=$2.99

The earnings per share for 20X1 will be $2.99

B. Computation of the earnings per share for the year 201X

Earnings after Taxes= 301,000 * 1.28 = 385,280

Shares Outstanding=301,000 + 32,000 = 333,000

Hence,

Earnings after Taxes/Shares Outstanding

385,280 / 333,000 = $1.15

Therefore the earnings per share for 20X1 will

be $1.15 .

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3 years ago

surfshack corp. buys surfboards, wetsuits, and surf wax from rip to shreds, inc. for sale to consumers. what type of company is

viva [34]

Buys surfboards, wetsuits, and surf wax from rip to shreds, inc. for sale to consumers. The type of company is surf shack corp is a retail merchandiser.

Merchandising is any practice that contributes to the sale of products to retail consumers. At the retail level, merchandising refers to the presentation of products that are sold in creative ways that induce customers to purchase more items or products.

Retail store clerks are responsible for ensuring that appropriate quantities of merchandise are available in stores and sold at appropriate prices. Clever planning, careful purchases, and smart advertising campaigns can increase your profits.

Merchandisers keep merchandise on retail shelves and present it appropriately to customers. They also track inventory levels, report problems and shortages to management, and clean up unwanted items for blatant violations of store decor.

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1 year ago

Folio Company estimates total manufacturing overhead costs to be $80,000 for the year and estimates direct labor hours to be 4,0

gregori [183]

Answer:

Allocated Overhead= $76,000

Explanation:

Giving the following information:

Estimated overhead for the period= $80,000

Estimated direct labor hours= 4,000 for the same period

Actual direct labor hours for the period are 3,800.

<u>First, we need to calculate the estimated overhead rate. Then, we can determine the amount of overhead allocated to work in process for the period.</u>

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 80,000/4,000= $20 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 20*3,800= $76,000

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3 years ago

Switching costs, the number of buyers, and if the items represent a relatively small portion of the cost of finished products ar

Murrr4er [49]

Switching costs, number of buyers, and if the items represent a relatively small portion of the cost of finished products are key considerations regarding the bargaining power of buyers.

Switching costs are the costs which are paid by a consumer as a result of switching brands, suppliers, or products. Some companies may employ high switching costs in order to prevent customers from moving to another brand.

Suppose if the customer purchases large volumes of standardized products from the seller, then the buyer's bargaining power is quite high. Also, when substitute of a product is available in the market, the buyer power increases.

Hence, most prevailing switching costs are monetary in nature.

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1 year ago