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Anit [1.1K]
3 years ago
7

Bear Tracks, Inc., has current assets of $2,310, net fixed assets of $10,700, current liabilities of $1,420, and long-term debt

of $4,120.
What is the value of the shareholders’ equity account for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Shareholders' equity $

How much is the company's net working capital? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

Net working capital $
Business
1 answer:
laiz [17]3 years ago
3 0

Answer:

The more you sell the more you will earn :)

Explanation:

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On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value
Ivanshal [37]

Answer:

Date            Description                                    DR                   CR

June 15      Dividend expenses                      $120,000

                 Dividend Payable                                               120,000

July 10        Dividend Payable                         120,000

                   Cash                                                                  120,000

Dec 15        Dividend Expenses                     146, 400

                  Dividend payable                                           146,400

Explanation:

when dividend is declared and cash is yet to be paid, dividend expenses account will debited while dividend payable account will be credited.

when cash is paid for the dividend, dividend payable account will be credited while the cash account will be credited.

As at June 30, total number of shares outstanding = 95,000 + 25,000 = 120,000

As at December 31, the total number of outstanding shares =  95,000 + 25,000 + 2,000 = 122,000

6 0
2 years ago
What is the difference between a cooperative and a nonprofit organization
Hoochie [10]
A Non-profit organization survives off of donations, they don't charge anything for their services.

A cooperative organization I believe charges for it's services.
3 0
3 years ago
Flat Economy is income that does not increase over time.
const2013 [10]

Answer:

True

Explanation:

A flat economy is also known as a staggering economy.  At stagnation, the economy is not growing; neither is it receding. When the economy is flat, the economic indicators are constant.

If the growth is minimal, it is also considered flat. For example, a growth rate of less than 2 percent per year is low. If the economy experiences a consistent low growth rate for a prolonged period, it becomes flat.

8 0
3 years ago
Read 2 more answers
On January 1, Year 1, the City Taxi Company purchased a new taxi cab for $39,000. The cab has an expected salvage value of $4,00
Nostrana [21]

Answer:

depreciation expense year 2 = $8,925

book value end of year 2 = $21,675

Explanation:

depreciable value = $39,000 - $4,000 = $35,000

total miles driven = 200,000

depreciation expense per mile driven = $35,000 / 200,000 miles = $0.175 per mile driven

depreciation expense year 1 = 48,000 x $0.175 = $8,400

book value end of year 1 = $39,000 - $8,400 = $30,600

depreciation expense year 2 = 51,000 x $0.175 = $8,925

book value end of year 2 = $30,600 - $8,925 = $21,675

7 0
3 years ago
The firm was organized and the initial stockholders invested cash of $780. The company borrowed $1,170 from a relative of one of
Eduardwww [97]

Answer:

Follows are the solution to this question:

Explanation:

                             Cardinal Moving Services Inc. in its Books

   Payment                  Common Journal               Dr.               Cr.

      1                            Currency Cash.                     $780        

                                    Joint Vesicles                                                 $780

                   (To Common Stock Record Problem)

     2                       Currency Cash.                            $1,170

                                 Paying notes                                                        $1,170

                     (Quantity borrowed from the relative to the record)

    3                        Material                                         $1,417

                             Currency Cash.                                                     $1,417

(to record buying of 2 mover lawns $624 each and 1 trimmer career $169)

   4                             Supplies                                    $117

                                   Currency Cash.                                                 $117  

(The buying of fuel, oil, and waste bags to Record)

  5                            Costs of ads                                $221    

                              Cashable Account                                                 $221            

(Advertising flyer for business training on behalf of To Record)

  6                              Currency Cash.                       $605    

                             Receivable Account                        $312

                                Income Service                                                       $917

(For the very first two weeks of operation, to report service revenue)

    7                             Spending on wages                   $546

                                     Currency Cash.                                                $546

          (For first two weeks, to report wage expenditure)

    8                             Supplies                                        $143

                             Currency Cash.                                                           $143

(The acquisition of gasoline, oil, and garbage bags for documentation purpose)

   9                                  Currency Cash.                         $488

                                        Receivable Account                  $708

                                          Income Service                                         $1,196

   (For the last 2 weeks of the first month, to report service revenue)

 10                                        Wages Cost                        $663

                                            Payable salaries                               $663

                  (For two weeks to report accrual wage expenses)

  11                                    Budget for supplies                    $221

                                                  Supplies                                 $221

                              (To record the cost of supplies)

  12                                          Currency Cash.                 $195

                                              Receivable Account                  $195

                           (The customer's payment to Record)

working                                    Delivery Costs

                                   Purchases for supplies [$117 + $143]   $260 

                                      Less: Hand supplies                          ($39)

                                  Expense of production                           $221

7 0
3 years ago
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