Answer:
$31,100
Explanation:
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300.
Therefore the amount of stockholders’ equity as of May 31 of the current year can be derived by the formula : Capital = Assets - Liabilities
<u>Assets</u>
Cash $20,500;
Accounts Receivable, $7,250;
Supplies, $650;
Equipment, $12,000
TOTAL = 40,400
<u>Liabilities</u>
Accounts Payable, $9,300.
Therefore stockholders’ equity = 40,400 - 9,300 = $31,100
Answer:
Ownership utility
Explanation:
Based on the information provided within the question it can be said that in this scenario Spalkyn most likely provides Ownership utility. This term refers to when a company allows for the orderly transfer of their goods or services to the buyer. Which is what Spalkyn does by giving their customers various different options when purchasing their goods, so that they can choose whichever option is easiest for them.
1. True
2. False
3. True
Sorry if I get the wrong answers!!!
Answer:
A. $800
Explanation:
Ana Co.
Sales $500,000
Accounts Receivable $40,000
Allowance for doubtful accounts $300 Credit
Bad Debts Expense = 2 % of $ 40,000= $ 800
The adjusting entry would be
Bad Debts Expense $ 800 Dr.
Allowance for doubtful accounts $800 Credit
As we already have a credit balance of $ 300 in the doubtful accounts we will increase it with an amount of $ 500.
Allowance for Doubtful Accounts $ 500 Debit
Account Receivable $ 500 Credit
Answer: d. A provision related to the achievement of certain performance criteria
Explanation:
While compensatory plans are used in order to compensate the employees of a particular company, the noncompensatory stock option is one whereby the employees of a company are allowed to purchase the stock of that company at a particular price t a specific price and at a particular time period.
Some of its characteristics include:
• participation by substantially all full-time employees who meet limited employment qualifications.
• equal offers of stock to all eligible employees.
• a limited amount of time permitted to exercise the option.
Option D that "provision related to the achievement of certain performance criteria" isn't a characteristics. Therefore, D is the answer.
