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Vitek1552 [10]
3 years ago
10

started with total assets of and total liabilities of . At the end of ​, total assets stood at and total liabilities were . Requ

irements 1. Did the​ stockholders' equity of increase or decrease during ​? By how​ much? 2. Identify the four possible reasons that​ stockholders' equity can change. Requirement 1. Did the​ stockholders' equity of increase or decrease during ​? By how​ much? ​(Enter a decrease with a minus sign or​ parentheses.) Change in stockholders' equity during the year is
Business
1 answer:
dedylja [7]3 years ago
7 0

Answer:

1. Assets = Equity + Liability

Equity = Assets - Liability

Opening Equity = 14,000 - 9,000

= $5,000

Closing Equity = 19,000 - 11,000

= $8,000

Increase ( Decrease) = 8,000 - 5,000

= Increased by $3,000

2. Four ways Equity can change.

  • Equity will increase if Common Stock is issued
  • Equity will increase if the company makes a profit ( Net Income ) as this will go to the Equity account as Retained earnings
  • Equity will decrease if the company pays Dividends as those are paid from retained earnings
  • Equity will decrease if there is a net loss.
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Which of the following is acceptable behavior?
xz_007 [3.2K]

Answer:

All of the above.

5 0
3 years ago
Rory Company has a machine with a book value of $75,000 and a remaining five-year useful life. A new machine is available at a c
Alborosie

Answer: $7,500

Explanation:

In calculating the Incremental income we will add the amount of variable Manufacturing costs Rory Company will save as well as the income they will get from selling the old machine and then subtract the cost price of the new machine.

Starting off we will calculate the amount of savings they will make by using the new machine,

= $12,000 x 5 years

= $60,000

Calculating the Incremental income therefore we have,

= 60,000 + 60,000(from selling old machine) - 112,500 (cost of new machine)

= $7,500

The incremental income of buying the new machine is $7,500.

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5 0
3 years ago
If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are:
lys-0071 [83]

Answer:

Recognized as revenues in the debt service fund.

Explanation:

Debt Service fund is a term that is used to describes a form of cash reserve utilized in the payment of interest and principal on specific kinds of debt for a given period. For example, bond premiums are commonly imposed by state law to be moved to debt service funds.

Hence, If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are: Recognized as revenues in the debt service fund.

8 0
3 years ago
Boone Co.'s sales, based on past experience, are 20% cash and 80% credit. Credit sales are typically collected as follows: 40% i
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Answer:

$135,260

Explanation:

Remember to follow the cash collection history to determine the budgeted cash receipts for January.

Budgeted cash receipts for January

January Cash Sales $113,000 x 20%                     $22,600

January Credit Sales $113,000 x 80% x 40 %        $36,160

December Credit Sales ($73,500 - $27,000)       $46,500

November Credit Sales                                          $27,000

Total                                                                       $135,260

Therefore,

Boone Co.'s budgeted cash receipts for January is $135,260

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The ___________ is the only price where quantity demanded is equal to quantity supplied.
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<span>The equilibrium Price.</span>
6 0
3 years ago
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