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tamaranim1 [39]
3 years ago
5

Prezas Company's balance sheet showed total current assets of $2,500, all of which were required in operations. Its current liab

ilities consisted of $975 of accounts payable, $600 of 6% short-term notes payable to the bank, and $250 of accrued wages and taxes. What was its net operating working capital?
Business
1 answer:
ipn [44]3 years ago
8 0

Answer:

$1,275

Explanation:

Recall that,

Net operating working assets (NOWC) = Current assets - (current liabilities - notes payable).

Thus,

Given that

Current assets = 2500

Current liabilities = 975 + 250 + 600 = 1825

Notes Payable = 600

Therefore,

NOWC = 2500 - (1825 - 600)

NOWC = 2500 - 1225

NOWC = $1275

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Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that a
victus00 [196]

Answer:

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact that P = ATC, P>ATC, MR =MC, or MR>MC at the optimal quantity.  Furthermore, the quantity the firm produces in long-run equilibrium is the efficient scale. True False

This indicates that there is a markup on marginal cost in the market for shirts. True False

Explanation:

In the long run, monopolistically-competitive entities produce at a level where marginal cost and marginal revenue are equal. This makes it impossible for individual companies to sell their products at prices above the average cost. This situation means that monopolistically-competitive companies will always earn zero economic profit in the long run.

3 0
3 years ago
Portfolio AB has half of its funds invested in Stock A and half in Stock B. Portfolio ABC has one third of its funds invested in
Anit [1.1K]

Answer:

a) Portfolio ABC's expected return is 10.66667%.

Explanation:

Some information is missing:

Stock                Expected         Standard             Beta

                         return              deviation

A                            10%                 20%                 1.0

B                            10%                  10%                 1.0

C                            12%                  12%                 1.4

The expected return or portfolio AB = (1/2 x 10%) + (1/2 x 10%) = 10% (it is the same as the required rate for stock A or B)

The expected return or portfolio ABC = (weight of stock A x expected return of stock A) +  (weight of stock B x expected return of stock B) + (weight of stock C x expected return of stock C) = (1/3 x 10%) + (1/3 x 10%) + (1/3 x 12%) = 3.333% + 3.333% + 4% = 10.667% <u>THIS IS CORRECT</u>

Options B, C, D and E are wrong.

5 0
3 years ago
Jill Gracie's current checkbook balance is $8,900.15. She opened up the bank statement and saw the bank's balance at $7,000.10.
Mrrafil [7]

Answer:

The reconciled balance is:

Explanation:

Cash  8900,15

 

Books  

Cash receipts pending on bank  -9821,55

Checks written                           7986,05

Checks written not recorded       -49,55

 

Banks  

Bank service fee                                   -48,1

Interest earned                                    33,1

 

Bank conciliation                               7000,1

Bank account                                      7000,1

7 0
3 years ago
Requirements
Stella [2.4K]

Journal entries:

Nov. 1, common stocks issued

Dr Cash 41,000

    Cr Common stock 41,000

Nov. 4, office supplies and furniture purchased

Dr Office supplies 1,200

Dr Furniture 2,300

    Cr Accounts payable 3,500

Nov. 6, service revenue

Dr Cash 2,100

    Cr Service revenue 2,100

Nov. 7, land purchased

Dr Land 27,000

    Cr Cash 27,000

Nov. 10, service revenue

Dr Accounts receivable 800

    Cr Service revenue 800

Nov. 14, payment of furniture

Dr Accounts payable 2,300

    Cr Cash 2,300

Nov. 15, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 17, collection of accounts receivable

Dr Cash 500

    Cr Accounts receivable 500

Nov. 20, service revenue

Dr Accounts receivable 680

    Cr Service revenue 680

Nov. 25, received cash in advance

Dr Cash 1,900

    Cr Unearned revenue 1,900

Nov. 28, service revenue

Dr Cash 3,100

    Cr Service revenue 3,100

Nov. 29, purchase prepaid insurance

Dr Prepaid insurance 840

    Cr Cash 840

Nov. 30, wages expense

Dr Wages expense 1,470

    Cr Cash 1,470

Nov. 30, rent expense

Dr Rent expense 650

    Cr Cash 650

Nov. 30, utilities expense

Dr Utilities expense 650

    Cr Accounts payable 650

Nov. 30, dividends distributed

Dr Retained earnings 2,800

    Cr Dividends payable 2,800

Dr Dividends payable 2,800

    Cr Cash 2,800

Since there is not enough space here, I prepared an excel spreadsheet with the T-accounts.

In order to prepare a trial balance sheet, I must first prepare an Income Statement:

Service revenue              $6,680

Wages expense             ($2,940)

Rent expense                   ($650)

<u>Utilities expense              ($650)</u>

Net income:                    $2,440

Retained earnings = $2,440 (net income) - $2,800 (dividends) = ($360)

        STEWART CO.

     BALANCE SHEET

       NOV. 30, 2018

Assets:

Cash $12,070

Accounts receivable $980

Prepaid insurance $840

Office supplies $1,200

Furniture $2,300

Land $27,000

Total assets: $44,390

Liabilities and stockholders' Equity:

Accounts payable $1,850

Unearned revenue $1,900

Common stock $41,000

Retained earnings ($360)

Total liabilities and stockholders' equity: $44,390

Download pdf
8 0
3 years ago
Please help me w this one multiple choice question (Principles of Business (P.O.B.)​
Leno4ka [110]

The correct answer to this question is choice A.

The definition of Imperfect Competition is when there is a situation in a market where there are features of a competitive market, but also characteristics of a monopoly. The other three choices are characteristics of a competitive market.

3 0
3 years ago
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