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riadik2000 [5.3K]
3 years ago
11

Long-term investments that cost the company $25 were sold during the year for $54 and land that cost $53 was sold for $28. In ad

dition, the company declared and paid $22 in cash dividends during the year. Besides the sale of land, no other sales or retirements of plant and equipment took place during the year. Pavolik did not retire any bonds during the year or issue any new common stock.
Business
1 answer:
adell [148]3 years ago
6 0

Answer:

Explanation:

Long-term Investment cost = $25

Long-term Investment sales value = $54

Gain from Long-term Investment = $(54-25) = $29

Land cost = $53

Land sales value = $28

Loss from sale of Land = $(28-53) = -$25

Cash Dividend paid = $22

Total change in Assets = $(29-25) = $4

Total change in Equity = -$22

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At the beginning of the year, Carson Company reported total current assets of $658,000 and total assets of $2,450,000. Carson re
ehidna [41]

Answer:

Total Asset Turnover: 2.2857

Explanation:

                           <u>Total Assets</u>    

       

Begininng Balance           2,450,000        

       

Ending Balance              2,800,000          

       

Period activity                      350,000    

       

<u>Sales:</u> 6,000,000      

       

<em><u>Total Asset Turnover</u></em>:          <u>         </u><em><u> Sales   </u></em>

<em>                                               Average Total Assets</em>

<u>                  6,000,000               </u>

( 2,450,000 + 2,800,000 )  / 2

=

<u>6,000,000</u>

2,625,000

=

<u>2.2857</u>

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The economic theory that is focused on group ownership of the means of production with all members of the community sharing in t
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Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $130,300 Advertising e
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Answer and Explanation:

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At the beginning of january of the current year, little mikey's catering ledger reflected a normal balance of $52,000 for accoun
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The U.S. Bureau of Economic Analysis​ (BEA) has recently adopted a new approach to calculate real GDP and real GDP growth to cor
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