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Salsk061 [2.6K]
3 years ago
6

Clem Corporation issues 1,000 shares of common stock for $25,000. Clem purchased equipment for $10,000 by borrowing from the ban

k. Clem's total assets are_________.
Business
1 answer:
Marina86 [1]3 years ago
3 0

Answer:

$35,000

Explanation:

We know that

Total assets = Total liabilities + stockholder equity

And, The common stock shares are issued for $25,000 and plus equipment is also purchased via borrowing from the bank for $10,000

So, the total assets by applying the accounting equation is

= Issuance of the common stock + Bank borrowed amount

= $25,000 + $10,000

= $35,000

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An alternative to using a letter of credit is export credit insurance. What are the advantages and disadvantages of using export
Agata [3.3K]

Answer:

Read the explanation below.

Explanation:

A. Luxury yatch: Not a lot of people buy Yactchs, but a lot of businesses are capable of making them. So more or less the buyer is in position to dictate terms. And asking the buyer to open a letter of credit may result in the loss of sale.

But to protect against the risk of losing payment, the seller can opt for export credit insurance. Here on advantage of export credit insurance is the exporter is more likely to make the sale in a competitive market such as this. If there is a default, the insurance should cushion the blow. However, Canada and California are not known for opaque or radically different legal systems, are not far away, and do not have linguistic or other barriers. In the event of default, the yatch is likely to be returned.

b. Machine tools. Again, one advantage is that the new yorker exporter is more likely to make the sale. The exporter's position however is strong due to the fact not lot of people make machine tools as the are hard to make and have a higher fixed costs.

Thus, letter credit is the most viable option in this case.

3 0
3 years ago
Teel Printing uses two measures of activity, press runs and book set-ups, in the cost formulas in its budgets and performance re
juin [17]

Answer:

D. $193,750

Explanation:

Calculation for the wages and salaries in the flexible budget for July

FLEXIBLE BUDGET FOR JULY

Using this formula

Flexible budget= Wages and salaries Cost formula per month+Actual activity press runs*Wages and salaries per press runs+Actual activity book set-ups*Wages and salaries book set-up

Let plug in the formula

Flexible budget=$8,850+201*400+110*950

Flexible budget=$193,750

Therefore the wages and salaries in the flexible budget for July would be closest to $193,750

7 0
2 years ago
What factors under the control of owners and managers make a firm successful and allow it to earn economic​ profits?
mafiozo [28]

Answer: E. The firm's ability to differentiate its product

Explanation:

The factor under the control of owners and managers that make a firm successful and allow it to earn economic​ profits is the firm's ability to differentiate its product.

Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.

8 0
2 years ago
Two weeks before his performance appraisal, John successfully resolved a service complaint involving one of the company’s most i
Sergeu [11.5K]

Answer:

The correct answer is Recency error.

Explanation:

Focus on the most recent performance evaluated: The evaluators can be guided by the most recent actions and / or attitudes, whether negative or positive, without considering the history of the collaborators. This error can give an unfair result and nothing representative.

A recency error is an inaccuracy or failure in the performance evaluation or job interview, caused by the dependence of the evaluator or the interviewer on the most recent events of the employee or applicant behavior.

5 0
3 years ago
Using the Indirect Method to create the Statement of Cash Flows, which of the following options are correct in describing what m
Gwar [14]

Answer:

a) A gain is subtracted from net income.

d) An increase in operating current assets is subtracted from net income.

e) A decrease in operating current liabilities is subtracted from net income.

Explanation:

Operating activities: It involves those transactions that affect the after-net income working capital. It would subtract the rise in current assets and a decrease in current liabilities while add a decrease in current assets and an increase in current liabilities.  

It would modify those changes in working capital. For addition, the depreciation costs are added to the net income and the loss on the sale of assets is applied, while the gain on the sale of assets is excluded

So, the following options are used-

a) A gain is subtracted from net income.

d) An increase in operating current assets is subtracted from net income.

e) A decrease in operating current liabilities is subtracted from net income.

8 0
3 years ago
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