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3 years ago

Noric Cruises Inc. began the month of October with the following balances:

Business

1 answer:

hram777 [196]3 years ago

6 0

Answer:

Stockholders equity is $17,900,000

Explanation:

The stockholders'equity section of the balance sheet refers to the worth of shareholders' investment in the business.

It comprises of capital paid as well as the returns earned on it thus far,in other words,the retained earnings.

Common stock $1 stated value $150,000+($1*40000) $190,000

Additional paid capital $3,050,000+($13*40,000) $ 3,570,000

Total paid capital $ 3,760,000

Retained earnings($12,400,000+$2,200,000-$460,000) $ 14,140,000

Stockholders equity $17,900,000

The retained earnings for the month is the opening retained earnings plus net income minus cash dividends declared,since dividends are been paid from retained earnings

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MC Qu. 166 Joe Jackson opened Jackson's... Joe Jackson opened Jackson's Repairs, Inc. on March 1 of the current year. During Mar

____ [38]

Answer:

D. $ 10,300

Choice D is correct: Net income = $ 10,300

Explanation:

Cash Received = $ 16000

Less Rent Paid= ( $ 2000)

Add income = $ 3000

Less Salaries for the month of March = ($ 6200)

Less utilities paid ($ 500)

Net income= $ 10,300

Treatments.

Net income is found by deducting expenses from revenues earned

$ 100,000 is the retained earnings so it is not accounted for net income.

Equipment is an asset so it is not accounted for net income.

Cash received is the revenue so it is accounted.

Rent is an expense account so it is subtracted.

Income for service $ 3000 provided is also taken into account on matching principle basis.

Advance received will be adjusted when the services will be rendered on matching principle.

6 0

3 years ago

Do you believe the statement "perception is reality"? Why or why not?

Allisa [31]

I wholeheartedly agree and think it’s practically self-evident.

Here’s an excellent example from history.

For 28 years, the Berlin Wall separated East Berlin from West Berlin and was the most heavily militarized border crossing in the Western hemisphere. In 1989, during a press conference with western media, Gunther Schabowski was handed a note explaining a change in policy governing border crossing. Several discussions took place about making a show of opening the border between East and West Germany, but nobody informed Schabowski.

At the end of the press conference, he appears to have remembered the note belatedly, and read it verbatim—which was not what was intended. When asked about when the border would open, he assumed it was immediate.

The reality of course was that East Germany had no intention of opening the border, and certainly not immediately.

Within hours, the border crossing was practically buried under thousands of East Germans eager to be reunited with their families and other loved ones after 28 years on the press conference, which had been broadcast live.

The East Germans believed what they were told: Schabowski said immediately, and they intended to go immediately.

Border guards kept calling for instructions, until finally, they relented.

Perception became reality, and the border between East and West Berlin opened, spelling the de facto end of the separation of Germany.
273 viewsView 2 Upvoters · Answer requested by Never Wong
Related Questions (More Answers Below)

3 0

3 years ago

Guest expectations +____________=guest satisfaction

avanturin [10]

Answer: C. Perceived Value

Explanation:

When we speak of Perceived value, we speak of how a customer evaluates a good or service in relation to how well it served them especially in relation to similar good or services.

It is essentially the customer, ranking a good or service in terms of how well they feel it fulfilled it's intended purpose.

When guests to an Establishment come with expectations for instance, how well the guests think these expectations are met (perceived Value) is what determines the overall satisfaction of the guest.

Hence the formula, Guest expectations + Perceived Value = Guest Satisfaction

7 0

3 years ago

If a price ceiling is not binding, thena. the equilibrium price is above the price ceiling.b. the equilibrium price is below the

IgorLugansk [536]

B. The equilibrium price is below the price ceiling.

5 0

3 years ago

A company has preferred stock that can be sold for $21 per share. The preferred stock pays an annual dividend of 3.5% based on

NeX [460]

Answer: Therefore, the cost of preferred stock is 17.72%.

Given:

Selling price (preferred stock) = $21

Annual dividend = 3.5%

Flotation costs = $1.25

We can compute the cost of preferred stock as:

$cost \ of \ preferred \ stock = \frac{annual \ dividend}{( Price\ of \ stock - Flotation\ costs )}\\$

Cost of preferred stock = 3.5 / ($21 - $1.25)

Cost of preferred stock = 17.72%

The correct option is (b)

3 0

3 years ago

Read 2 more answers