Answer:
B) 280,000; 200,000
Explanation:
Assets = Liabilities + Shareholder Equity
Assets:
Cash $50,000
Accounts receivable $80,000
Inventory $100,000
Gross P&E $730,000
<u>depreciation ($130,000)</u>
total = $830,000
Liabilities:
Accounts payable $12,000
Notes payable $50,000
<u>Long-term debt $218,000 </u>
total = $280,000
Equity = $830,000 - $280,000 = $550,000
Common stock $100,000
Add. paid-in capital $250,000
Retained earnings = $550,000 - $100,000 (common stock) - $250,000 (APIC) = $200,000
Answer:
C. Net income and stockholders' equity are both overstated.
Explanation:
In the income statement , ending inventory is deducted from the addition of the beginning inventory and net purchases to arrive at the cost of goods sold. Therefore, the cost of goods can be stated as an equation stated as follows:
Cost of goods sold = Beginning inventory + Net purchases - Ending inventory
From the above equation, it can be observed that if the ending inventory is overstated, cost of goods sold will be understated by that amount.
Since gross income is determined by deducting cost of goods sold from the net sales, an understated cost of goods sold will result in an overstated gross income and subsequently overstated net income.
Since net income is one of the components of the stockholders' equity, an overstated net income will leads to an overstated stockholders' equity.
Therefore, the correct option is C. Net income and stockholders' equity are both overstated.
Answer:
The correct option is D
Explanation:
A key characteristic of pandemic influenzas is that they have the ability to mutate rapidly. When the immunity of human increases the pandemic virus changes.
Answer:
Yes, there is a violation of the Equal Pay Act because Hank's salary ($14 per hour) is higher than Marjorie's ($12 per hour).
Explanation:
The Equal Pay Act of 1963 basically establishes that no employer can pay a higher salary to an employee of one sex and pay a lower salary to an employee of the opposite sex. Theoretically this law protects both women and men, since the provision doesn't establish a specific sex that is protected.
In this case, it is OK for Ellen to earn a higher salary than Hank because she has more experience and she was transferred to the New York facility. But Hank shouldn't earn a higher salary than Marjorie because she is a more experienced worker.
This law doesn't consider the differences between Ellen's salary and Marjorie's.
Answer:
C. $1000
Explanation:
The computation of the approximate market value is shown below:
Current yield = Annual coupon payment ÷ market value
8% = ($1,000 × 8%) ÷ market value
8% = $80 ÷ market value
So, the market value is
= $80 ÷ 0.08
= $1,000
Hence, the approximate market value is $1,000
Therefore the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
