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Elis [28]
3 years ago
15

Darell Hair​ Stylists's adjusted trial balance and statement of​ owner's equity follow.

Business
1 answer:
il63 [147K]3 years ago
4 0

Answer:

Total Assets = Total Liabilities and Stockholder's Equity = $20,200

Explanation:

An unclassified balance sheet is a type of balance sheet that does not present assets and liabilities under different categories. It only presents all assets in order of liquidity and liabilities in order of the shortness of their terms.

This can be prepared for this question as follows:

Darell Hair​ Stylists

Unclassifed Balance Sheet

At December 31​, 2018

<u>Particulars                                                       Amount ($)         </u>

Cash                                                                     1,000

Accounts Receivable                                            900

Office Supplies                                                      600

Equipment                                                         19,700

Accumulated Dep. - Equipment                     <u>  (2,000)  </u>

Total Assets                                                     <u>  20,200  </u>

Accounts Payable                                                 900

Interest Payable                                                    550

Notes Payable                                                    3,400

Common Stock                                                 10,650

Retained Earnings, Dec. 31, 2018                  <u>   4,700  </u>

Total Liabilities and Stockholder's Equity   <u>  20,200 </u>

Since Total Assets and Total Liabilities and Stockholder's Equity as it is normally required, that indicates that the unclasified balance sheet has been prepared accurately.

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Lantz Company has provided the following information: • Cash sales totaled $255,000. • Credit sales totaled $479,000. • Cash col
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Answer:

The amount of Lantz's operating revenue is $734,000

Explanation:

The computation of the operating revenue is shown below:

= Total cash sales + Total credit sales

= $255,000 + $479,000

= $734,000

Since we have to compute the operating revenue, so we considered only revenue part not expenses part

The other information which is mentioned in the question is not being considered because it is related to the operating expenses. So, ignored it.

3 0
3 years ago
Bricktown Exchange purchases a copyright for $50,000. The copyright has a remaining legal life of 25 years, but only an expected
son4ous [18]

Answer:

Correct option is (D)

Explanation:

Given:

Purchase price of copyright = $50,000

Expected useful life = 5 years

Annual depreciation expense as per straight line method:

= Purchase price ÷ useful life

= 50,000 ÷ 5

= $10,000

Only useful life is considered and not legal life.

Carrying value of asset at the end of year = Book value of asset - annual depreciation

Carrying value of copyright at then end of first year = 50,000 - 10,000 = $40,000

Carrying value of copyright at then end of second year = 40,000 - 10,000 = $30,000

5 0
3 years ago
You note the following yield curve in The Wall Street Journal. According to the unbiased expectations theory, what is the one-ye
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Answer:

2.58%

Explanation:

Mathematically, the relationship between the different interest rates using the equation is shown below:

(1+S2)^2=(1+S1)^1*(1+2y1y)

The spot rate in year 2 is the same as the spot rate in year 1 multiplied by the 1-year forward rate beginning in year 2.

S2=2-year rate =2.34%

S1=1-year rate =2.10%

2y1y=one-year interest rate 2 years from now=the unknown

(1+2.34%)^2=(1+2.10%)^1*(1+2y1y)

(1+2y1y)=(1+2.34%)^2/(1+2.10%)^1

2y1y)=(((1+2.34%)^2/(1+2.10%)^1)-1

2y1y=1.025805642-1

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The formula shows that borrowing or lending for 2 years at 2.34% is the same as borrowing or lending at 2.10% in year and 2.58% forward rate in year 2

8 0
3 years ago
All of the following are examples of place advertising EXCEPT _____. a. billboards and bulletins b. transit ads c. shopping cart
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<h2>Except "shopping cart ads" all the others are examples of place advertising.</h2>

Explanation:

Billboards and bulletins:

Theses are the most impact way of advertising. These are normally huge and kept in vehicular traffic to attract customers.

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In simple terms, transit ads are the advertisement posted or hanged on the moving vehicles ie. in the side or back of bus, van, etc to advertise and attract customer.

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Advertisement that are pasted on the shopping cart

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Answer:

False.

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