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Gekata [30.6K]
3 years ago
13

Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquire

d $32,000 cash from the issue of common stock. Borrowed $38,000 cash from National Bank. Earned cash revenues of $50,000 for performing services. Paid cash expenses of $46,000. Paid a $1,200 cash dividend to the stockholders. Acquired an additional $22,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid $55,000 cash to purchase land. Determined that the market value of the land is $77,000. Problem 2-20A (Algo) Part b b. Determine the amount of total assets that Maben would report on the December 31, Year 1, balance sheet.
Business
1 answer:
cupoosta [38]3 years ago
6 0

Answer:

Total Assets $84,800

Explanation:

Calculation for Maben TOTAL ASSETS

1 Cash increased $ 32,000

2 Cash increased $ 38,000

3 Cash increased by cash revenue $ 50,000

4 Cash decreased by expenses paid ($ 46,000)

5 Cash decreased by the amount of dividend ($ 1,200)

6 Cash received from issue of stock $ 22,000

7 Cash paid to reduce liability ($10,000)

8 Does not have effect on Total Assets $ -

9 It will not be considered for accounting $ -

TOTAL ASSETS $ 84,800

Therefore the amount of total assets that Maben would report on the December 31, Year 1, balance sheet will be the amount of $84,800.

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The world trade organization envolved from which of the following?
Alexxandr [17]

Answer:

You might want to tape "evolve" in this case the answer is the GATT

Explanation:

The World Trade Organization's predecessor, the General Agreement on Tariffs and Trade (GATT), was established after World War II in the wake of other new multilateral institutions dedicated to international economic cooperation – notably the Bretton Woods institutions known as the World Bank and the International Monetary Fund. A comparable international institution for trade, named the International Trade Organization was successfully negotiated.

The World Trade Organization (WTO) is an intergovernmental organization which regulates international trade. The WTO officially commenced on 1 January 1995 under the Marrakesh Agreement, signed by 123 nations on 15 April 1994, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which is signed by representatives of member governments and ratified by their parliaments.

3 0
3 years ago
Which assumption or principle requires that all information significant enough to affect decisions of reasonably informed users
sladkih [1.3K]

Answer:

The answer is: full disclosure principle

Explanation:

Full disclosure principle in accounting refers to the requirement that businesses are supposed to provide all material information pertaining to their operations to the stakeholders of the business so as to facilitate better decision-making frameworks when evaluating the business.

The going concern principle is based on the assumption that the business will not cease operating in the foreseeable future. The matching principle requires that the expenses incurred in carrying out an economic activity are recorded in the same period as the revenues earned from that activity. The historical cost principle requires assets or liabilities to be recorded at their acquisition value.

7 0
3 years ago
Green Vehicle​ Inc., manufactures electric cars and small delivery trucks. It has just opened a new factory where the C1 car and
ioda

Answer and Explanation:

(a)

Variables are given as follows

Total number of cars, C1

Total number of trucks, T1

(b)

Our aim is to maximize the total profit of Green Vehicle Inc.

Max z = 300T1 + 220T1

(c)

In this question, we have limitations, which are

0.025T1 + 0.017C1 ≤ 1

0.020T1 + 0.020C1 ≤ 1

hence attached below are the excel solutions to the problem

3 0
3 years ago
The adult education director at st. francis hospital uses ​________ to evaluate the interactions of variables that contribute to
Harlamova29_29 [7]

At the Saint Francis Hospital, an adult education director uses What-if analysis to evaluate the interactions of variables that contribute to the profitability of various potential seminars. A What-If Analysis is the process of altering the values in cells to see how those changes will affect the outcome of formulas on the worksheet.

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3 years ago
Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cas
Oksana_A [137]

Answer:

The net cash inflow from financing activities on Petras's 2013 statement of cash flows is $5. So, the correct option is A.

Explanation:

Petras Company

Statement of cash flows (extract)

Proceed from the issue of common stock              $325

Repayment of outstanding debt                            ($220)

Dividends paid                                                         ($100)

Net cash inflow from financing activities                    $5

Note that earned revenues and incurred expenses would form the net income used under operating activities section of the cash flows.

The prior year values for there for comparative purpose only.

5 0
3 years ago
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