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3 years ago

A list of financial statement items for Blossom Company includes the following:

Business

1 answer:

cricket20 [7]3 years ago

5 0

Answer:

Total current assets $83,580

Explanation:

The preparation of the current assets section of the balance sheet is shown below:

<u>Current Assets Amounts </u>

Cash $22,360

Debt investments(short term) $17,360

Accounts receivables $30,100

Supplies $8,170

Prepaid Insurance $5,590

Total current assets $83,580

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One reason many companies do not organize themselves as an s corporation is that this form of business:

S_A_V [24]

Answer:

S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.

Explanation:

There are specific pre-requisites before a company may apply as an S corporation

It implies that corporation shareholders must be U.S. residents only who directly own the shares.
Maximum 100 shareholders can be part of S corporation.
The stock options are restricted to one class only.

The limited stock options, no foreign investment challenges and limitation of maximum shareholders create a barrier to open S type corporation. So the answer is S type corporation is difficult to register as it has a particular eligibility restriction, which many businesses are unable to meet.

7 0

3 years ago

Moonburst is a newly launched brand of energy drinks, one among many other recently introduced competing brands. The advertising

masha68 [24]

Answer: Advertising seeks to appeal to a mass audience with a uniform message.

Explanation:

3 0

3 years ago

H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio

irinina [24]

Answer:

The calculation is shown below:

Explanation:

According to the scenario, the computation of the following data can be done as follows:

Total Cost = Quantity × Unit Cost

Total NRV = Net Realizable Value × Quantity

So, by putting the value in the formula, we get,

Item Quantity Total Cost Total NRV Lower of cost or NRV

A 59 $1,416.00 $1,239.00 $1,239.00

B 89 $3,471.00 $4,361.00 $3,471.00

C 19 $1,083.00 $1,159.00 $1,083.00

D 79 $2,686.00 $3,081.00 $2,686.00

E 359 $6,821.00 $5,026.00 $5,026.00

Total $15,477.00 $14,866.00 $13,505.00

6 0

3 years ago

In an effort to save money for early retirement, an environmental engineer plans to deposit $1200 per month starting one month f

Aleks [24]

Answer:

$1,099,203.00

Explanation:

In this question we have to find out the future value that is shown in the attachment below:

Provided that

Present value = $0

Rate of interest = 8% ÷ 2 = 4%

NPER = 25 years × 2 = 50 years

PMT = $1,200 × 6 months = $7,200

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after solving this, the future value is $1,099,203.00

8 0

3 years ago

Bull'sEye sells gift cards redeemable for Bull'sEye products either in-store or online. During 2016, Bull'sEye sold $2,000,000 o

alekssr [168]

Answer:

b) $1,950,000

Explanation:

Value of gift cards redeemed with those whose date of redemption has passed, will both have the amount to revenue out of $2,000,000 of the gift cards sold.

Total gift card revenue to be recognized in 2016 = $1,800,000 + $150,000

Total gift card revenue to be recognized in 2016 = $1,950,000

4 0

3 years ago