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Neko [114]
3 years ago
15

What is business economy

Business
1 answer:
otez555 [7]3 years ago
7 0

Business economics is a field of applied economics that studies the financial, organizational, market-related and environmental issues faced by corporations.

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Fronthouse Corp. issues 10,000 shares of no-par value preferred stock for cash at $60 per share. The journal entry to record the
lisov135 [29]

Answer:

Preferred Stock for $20,000 and Retained Earnings for $580,000

Or

Retained Earnings for $600,000

Or

Preferred Stock for $600,000

Explanation:

Based on the information given we were told that they issues 10,000 shares of no-par value preferred stock for cash at the amount of $60 per share which means that the journal entry to record the transaction will consist of a debit to Cash for the amount of $600,000 and a credit (or credits) to:

Preferred Stock for $20,000 and Retained Earnings for $580,000.

Or

Retained Earnings for $600,000

(10,000 shares*$60 per share )

Or

Preferred Stock for $600,000

(10,000 shares*$60 per share )

3 0
3 years ago
Net cash flow from operating activities for 2021 Altoona Corporation was $300,000. The following items are reported on the finan
beks73 [17]

Answer:

$306,000

Explanation:

Calculation for Graham’s net income for 2018

Using this formula

NET INCOME=Net cash flow from operating activities+(Depreciation and amortization -

Increase in accounts receivable )

Let plug in the formula

NET INCOME=$300,000+($30,000-$36,000)

NET INCOME=$300,000+$6,000

NET INCOME=$306,000

Therefore Graham’s net income for 2018 will be $306,000

4 0
3 years ago
At December 31, DePaul Corporation had a $34 million balance in its deferred tax asset account and a $180 million balance in its
ivanzaharov [21]

Answer:

2.)

deferred tax liability = $180million

Deffered tax asset = $34million

Net Deffered tax liability = $146million

Explanation:

Estimated warranty expense, $25 million: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty).

b. Depreciation expense, $300 million: straight-line in the income statement; MACRS on the tax return.

c. Income from installment sales of properties, $150 million: income recorded in the year of the sale; taxable when received equally over the next five years.

d. Rent revenue collected in advance, $60 million; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year.

Required:

1. Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 40%.

2. Determine the deferred tax amounts to be reported in the December 31 balance sheet. The tax rate is 40%. (Enter your answers in millions.)

Kindly see attached picture for detailed explanation

3 0
4 years ago
Why was steel important to the second industrial revolution?
dlinn [17]
Steel was important to the second industrial revolution majorly because of its properties and its potential uses. Because steel is very strong, light and cheap, it was found ideal for many purposes. Steel was used to make many of the new inventions that characterized that period, a good example of this is rail road.
6 0
3 years ago
Net sales $296,000 Cost of goods sold 138,000 Average inventory 50,000 What is the average days in inventory (round to the neare
tankabanditka [31]

Answer:

132 days

Explanation:

average days in inventory = number of days in a period / inventory turnover

Inventory turnover = costs of good sold / average inventory

Inventory turnover = 138,000 / 50,000 = 2.76

assuming a 365 day period, average days in inventory = 132.25 days = 132 days

7 0
3 years ago
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