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Tems11 [23]
3 years ago
12

Cougar’s Accounting Services provides low-cost tax advice and preparation to those with financial need. At the end of thecurrent

period, the company reports the following amounts: Assets = 517,000; Liabilities = 514.000: Revenues = $26,000:Expenses = 532,000.Required.-1‘ Calculate net loss.2 Calculate stockholders’ equity at the end of the period.
Business
1 answer:
max2010maxim [7]3 years ago
6 0

Answer:

1. $506,000

2. $3,000

Explanation:

The computation is shown below:

Net loss = Expenses - revenue

              = $532,000 - $26,000

              = $506,000

And, we know that

Total assets = Total liabilities + owners equity

$517,000 = $514,000 + owners equity

So, the owners equity is

= $517,000 - $514,000

= $3,000

Simply we applied the above formula and the above accounting equation so that the accurate amount could come

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During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value
MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500

I hope my answer helps you

8 0
3 years ago
Read 2 more answers
Keith and Dena Diem have personal property coverage with a​ $250 limit on​ currency, a​ $1,000 limit on​ jewelry, and a​ $2,500
netineya [11]

Answer:

Total Claim = $2416

Explanation:

The coverage on the currency = $250

The coverage on the jewelry = $1000

The limit on the gold, pewter, and silver = $2500

The amount that is stolen:

The amount of cash = $270

The worth of jewelry = $1734

Pewterware = $1666

The miximum coverage = 250 + 1000 + 2500 = $3750

Actual loss = 270 + 1734 + 1666 = $3670

Reimbursement amount = 250 + 1000 + 1666 = $2916

Total Claim = Total Amount Covered – Deductible  

Total Claim = $2916 - $500 = $2416

4 0
3 years ago
If the steady-state rate of unemployment equals 0.125 and the fraction of unemployed workers who find jobs each month (the rate
kodGreya [7K]
The fraction of the employed workers who lose their jobs each month or the rate of the job separation must be 0.07

Steady-state rate of unemployment multiply to the fraction of unemployed workers who find jobs each month.
0.125 * 0.56 = 0.07
The answer in this question is 0.07
6 0
3 years ago
An employee at falcon security is studying an analysis of data regarding the occurrence of problems and failures with its drones
alexandr402 [8]
<span>falcon security is using the analysis for decision making. Knowing when and why the problems and failures of the drones and cameras occurred will  help the employees in future to make decision (better and faster detect the problem and better maintain the equipment).</span>
6 0
3 years ago
A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold a
Marina86 [1]

Answer:

Reserve price = $55

Expected revenue with a reserve price = $55

Expected revenue without a reserve price = $55

Explanation:

The auctioneer should set the reserve price siguiente:

Reserve price = ($30x0.5) + ($80x0.5) = $15 + $40 = $55

In the case of the expected revenue with the reserve price, only the bidder who has set a $80 value will pay the reservation fee, then the expected revenue will be the reserve fee of $55.

In the case of the expected revenue without the reserve price, both of the bidders will enter the auction for the item. Since the values are equally probable the expected profit without the reservation fee is equally $55.  

Hope this helps!

8 0
3 years ago
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