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disa [49]
4 years ago
10

Exercise 1-8A Prepare a balance sheet (LO1-3) Wolfpack Construction has the following account balances at the end of the year. A

ccounts Balances Equipment $ 26,000 Accounts payable 3,000 Salaries expense 33,000 Common stock 11,000 Land 18,000 Notes payable 20,000 Service revenue 39,000 Cash 6,000 Retained earnings ? Required: Use only the appropriate accounts to prepare a balance sheet.
Business
1 answer:
mr_godi [17]4 years ago
8 0

Answer:

Please see balance sheet below.

Explanation:

Wolfpack construction balance sheet.

Dec 31

Assets $

Cash 6,000

Land 18,000

Equipment 26,000

Total assets 50,000

Liabilities.

Accounts payable 3,000

Notes payable 20,000

Total liabilities 23,000

Equity

Common stock 11,000

Retained earnings 16,000

Total stockholders equity. 27,000

Total liabilities and stockholder's equity(23,000 + 27,000) 50,000

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Consider the metaphor used in the article differentiating managerial and leadership roles (average managers play checkers, great
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Following are the solution to this question:

Explanation:

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5 0
3 years ago
Oscar's Flower Shop maximizes profits by hiring four workers in a perfectly competitive labor market. The workers and their valu
Irina-Kira [14]

Answer:

In equilibrium, each worker is paid his or her value of the marginal product of labor.

Explanation:

Here are the missing option of the question:

  • In equilibrium, each worker is paid his or her value of the marginal product of labor.
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As per marginal theory of productivity of income distribution, Income of each factor production is equal to its marginal productivity.

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6 0
3 years ago
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3 years ago
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