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3 years ago

Following are the transactions and adjustments that occurred during the first year of operations at Kissick Co.

Business

1 answer:

matrenka [14]3 years ago

6 0

Answer:

signed a 10% note due in three years.

C. Incurred and paid $410,000 in salaries for the year.

D. Purchased $730,000 of merchandise inventory on account during the year.

E. Sold inventory costing $590,000 for a total of $910,000, all on credit.

F. Paid rent of $220,000 on the sales facilities during the first 11 months of the year.

G. Purchased $190,000 of store equipment, paying $52,000 in cash and agreeing to pay the difference within 90 days.

H. Paid the entire $138,000 owed for store equipment and $630,000 feel feel guy guess join

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If you put $100 into a bank account that earns five percent interest per year, what is the formula you should use to determine t

Ainat [17]

Answer:

Future value equals the present value multiplied by one plus the rate of interest in decimals.

Explanation:

Future value = present value x (1 + interest rate)

Interest rate = present value x interest rate

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3 years ago

A product manager is eager to develop a new product idea. To gain approval to do so, the product manager orders the research tea

vladimir1956 [14]

Answer:

The answer is b. Advocacy research

Explanation:

Advocacy research is carried out with the intention of providing evidence and arguments that can be used to support a particular cause or position.

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3 years ago

The purpose of a statement of retained earnings is to: __________.

marusya05 [52]

Answer:

To determine the closing balance of retained earnings

Explanation:

First and foremost, retained earnings are an important part of the shareholders' equity. In a bid to ascertain the correct position of total shareholders' equity at year-end, it is important that a statement of retained earnings reconciling the opening retained with net income and dividends declared during the year is prepared.

The balance at the end of the year is the total accumulated earnings which have not been distributed to shareholders as dividends or which may be used to finance projects that increase shareholders' wealth

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3 years ago

13. In a market system, how are the terms of exchange established? a. Consumer advocacy groups establish fair prices for items,

yuradex [85]

The forces underlying supply and demand interact to determine the market price.

<h3><u>Explanation:</u></h3>

The persons involving in the activities of trading comprises the market system. It includes sellers, buyers and others involved in trading process. They also includes the buyers, consumers, producers who are the major players of the market system who determines the economic activity in it.

The supply and demand law is the major determinant of the production of goods and services in a market economy. The natural resources, land, capital and labor are the supplies. The purchasing power of the government, consumers and business are the demands. The forces underlying supply and demand interact to determine the market price.

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3 years ago

(a) how are bonds rated? (b) how are these rating helpful to the investors?

Jet001 [13]

Answer:

a) Bond rating is done by evaluating and considering all the relevant internal as well as external factors associated with the financial status of a business.

b) Bond rating helps in analysing the risk associated with the bond by analyzing its credit quality and thus helps investors taking decisions related to their investments.

Explanation:

a) Bond-rating is the letter grading system that is used to indicate the quality of the credit-related to the bond of various organizations. Bond-rating is done by evaluating and considering all the relevant internal as well as external factors associated with the financial status of a business. Internal factors may include the financial strength of the organization. External factors may include various networks with interested investors and other government organizations and policies related to the same.

There are three important agencies that analyze the credit quality of a bond. These agencies are Standard & Poor's, Moody's, and Fitch rating Inc.

b) Bond-rating help in analyzing the risk associated with the bond by analyzing its credit quality and thus helps investors taking decisions related to their investments. It helps the investors to study the stability and quality of a bond. Hence, higher-rated bonds are considered to be more stable and appropriate for investment purposes.

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3 years ago