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Morgarella [4.7K]
4 years ago
15

Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At theend of the current period, the com

pany reports the following amounts: Assets = $50,000; Liabilities= $27,000; Dividends = $3,000; Revenues = $14,000; Expenses = $9,000.Required:1.Calculate net income.2.Calculate stockholders' equity at the end of the period.
Business
1 answer:
8_murik_8 [283]4 years ago
4 0

Answer:

Net Income = $5,000

Stakeholder's Equity = $23,000

Explanation:

Net Income

Revenue        $14,000

-Expenses       <u>$9,000</u>

=Net income   $5,000

Assets = $50,000

Liabilities = $27,000

Accounting Equation:

Assets = Stockholder's equity + Liabilities

$50,000 = Stockholder's equity + $27,000

Stockholder's equity = $50,000 - $27,000

Stockholder's equity = $23,000

Net income of Eagle Corp. is $5,000 and Stockholder's equity is $23,000.

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Therefore, your answer would be
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D. City residents will support mayoral candidates who propose increasing the size of the police force.</span><span>
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8 0
3 years ago
Read 2 more answers
On October 1, Gala Corporation has 300 units of Product XYZ on hand. The company plans to sell 1,200 units of Product XYZ during
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Answer:

Units of Product XYZ must be produced during October are A) 1,400

Explanation:

Units of Product XYZ must be produced during October = Units of Product XYZ are sold during October + units of Product XYZ on hand October 31 - units of Product XYZ on hand October 1.

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5 0
3 years ago
The full opportunity cost of capital invested in a business is generally not included as a cost when accounting profits are calc
Luden [163]

Answer:

The correct answer is: more than.

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Economic profits calculation includes both implict and explicit costs. While implicit costs is not included in calculating accounting profits.

Since calculating accounting profits, the opportunity cost of capital is not included as a cost, that is why accounting profits is often higher than economic profits.

Accounting profits overstate profits.

5 0
4 years ago
With the complexity of economic activity the ____________ of money is not directly controlled by the fed.
natta225 [31]
The velocity of money is not directly controlled by the Fed. The Fed can not control the money supply and the meaning for that is that the Fed can not create rising demand. when we talk about volecity we are talking about the speed that money turns over. That is why velocity is out of control of the Fed. 
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4 years ago
Rogers Company reported net income of $49,646 for the year. During the year, accounts receivable increased by $6,774, accounts p
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Answer:

Cash flow from operations= $105,603

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Cash flow from operations= $105,603

6 0
3 years ago
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