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blagie [28]
3 years ago
10

York Casting Services started the year with total assets of $110,000 and total liabilities of $50,000. The revenues and the expe

nses for the year amounted to $140,000 and $50,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $70,000. Calculate the amount of increase or decrease in stockholders' equity for the year.
Business
1 answer:
Wittaler [7]3 years ago
6 0

Answer:

Net income:                             $

Revenue                             140,000

Expenses                            (50,000)

Dividend paid                    <u> (70,000)</u>

Net income                        <u> </u><u>20,000</u><u>   </u>      

Net income is the amount of increase in stockholders' equity.                                                          

Explanation:

Net income is the excess of revenue over expenses and dividend. A positive net income increases the stockholders' equity. Common                                                                                                                                                      stockholders are legal owners of a company, thus, any income not distributed as dividend increases their equity.                                                            

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A married couple, ages 55 and 52, with no children, are both employed at DEF Corporation. They have asked for an evaluation of t
posledela

Answer:

B. The portfolio should be reallocated based on their stated investment objective, reducing the cash and bond percentage by 50% and using the proceeds to buy a small or mid-cap growth mutual fund

Explanation:

Since this couple has stated investment goal of development with moderate hazard, a portfolio that just has about 25% values and that has 75% fixed pay protections is improper - since it will give pay; yet little development. The long haul bond and money designation ought to be decreased and supplanted with development stocks to more readily adjust the portfolio. Decision C is unreasonably theoretical for a "preservationist financial specialist." Choice D is to some degree valid since this couple is putting resources into their manager's stock - yet since the stock just speaks to 8% of the client's all out portfolio, this isn't a too much enormous rate.

4 0
3 years ago
You've written a check to Goodwill Supply, and the check has been lost. What should you do? A. Stop payment on the first check;
Lelu [443]

Answer:

A. Stop payment on the first check; then write a second one.

Explanation:

There are certain rules and procedures in banking system. If any check written is lost, then firstly the check shall be made invalid the one which is lost.

To make it invalid, stop payment can be done. Stop payment basically converts the check into a mere paper, with no validation, even if such check is presented no payment is made against it.

Further by issuing check you create a liability that you owe some money as against the party in consideration on check.

Therefore, after stop payment a new check shall be issued.

5 0
4 years ago
A company has three products possible products that it can produce in a machine intensive production process. Capacity is constr
disa [49]

Answer:

D

Explanation:

                                          A             B             C

Contribution per unit      20          30           40

Machine hours per unit  2.5          3.25       4.5

Contribution per hour     8             9.23       8.89

Product B has the highest contribution per hour .

It is stated that the capacity is constrained by the number of hours the machine can run during a period . and all products produce will be sold. This has made the machine hour the determinant factor in the situation.

Therefore product B should be emphasized if the goal is to maximize contribution margin.

3 0
4 years ago
During its first year of operations, Ivanhoe Company had credit sales of $2,781,600, of which $368,300 remained uncollected at y
Sergeeva-Olga [200]

Answer:

Explanation:

The journal entry to record the bad debt expense is shown below:

Bad debt expense A/c Dr  $19,340

      To Allowance for doubtful debts $19,340

(Being estimated uncollectible amount is recorded)

For recording this journal entry, we debited the bad debt expense account and credited the  Allowance for doubtful debts so that the amount is correctly recorded in the correct item.

7 0
4 years ago
Which of the following is true of enterprise resource planning?
olchik [2.2K]

Answer:

The correct answer is: It integrates all activities and information flows that relate to a firm's critical processes.

Explanation:

Enterprise resource planning (ERP) systems are the management information systems that integrate and manage many of the businesses associated with the production operations and distribution aspects of a company in the production of goods or services.

ERP systems typically handle the production, logistics, distribution, inventory, shipments, invoices and accounting of the company in a modular way, however, enterprise resource planning or ERP software can intervene in the control of many business activities such as sales, deliveries, payments, production, inventory management, management quality and human resources management.

3 0
4 years ago
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