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earnstyle [38]
3 years ago
15

Life, Inc. experienced the following events in Year 1, its first year of operation: Performed counseling services for $31,600 ca

sh. On February 1, Year 1, paid $22,200 cash to rent office space for the coming year. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: a. Record the events in general ledger accounts under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2
Business
1 answer:
nikitadnepr [17]3 years ago
7 0

Answer:

The accounting equation states that "Assets=Capital Liabilities"

As a result, the  equation here gives $11250 on both sides of the question.

The profit or loss statement gives net income of $11250 as well ,while the balance sheet has $11250 total as assets, the same as equity plus liabilities.

Finally,the statement of cash flow showed increase in cash and cash equivalent in the year as $9400.

The rent expense applicable to year 2 is the balance of prepaid rent which currently stood at $1850

Explanation:

Please find attached spreadsheet showing details regarding all the financial statements prepared in respect of Life Inc.

Download xlsx
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Some observers had argued that Uber’s greatest problem was not any of its scandals, but its CEO Travis Kalanick. Now that Kalani
emmainna [20.7K]

Answer:

Answer for the question  

Some observers had argued that Uber’s greatest problem was not any of its scandals, but its CEO Travis Kalanick. Now that Kalanick no longer serves that role, how much better off is Uber really? Where do you come down? Do you think Kalanick’s reduced profile will turn the tide for Uber? Or is Kalanick’s drive and competitiveness necessary to Uber’s continued success, regardless of the title he holds? If you were on the board, what would you recommend? And why?

Is given in the attachment.

Explanation:

3 0
3 years ago
Based on the corporate valuation model, the total corporate value of chen lin inc. is $900 million. its balance sheet shows $110
____ [38]

Stock price would be equal to total value of equity divided by no. of shares outstanding. The total value of equity would be calculated as follows:

Total value of equity = corporate value – notes payable – long term debt – preferred stock

= $900 million - $110 million – 90 million – 20 million

= $680 million

The price of the stock would be:

Stock price = total value of equity / no. of shares outstanding

= $680 million / 25 million

= $27.20

4 0
3 years ago
You were recently hired by RLM Inc. It is your job to prepare reports and analyze financial information related to the company.
Alex73 [517]

Answer:

d. management

Explanation:

Based on the job tasks described within the question it seems that you were recently hired as a management accountant. This role focuses on (like mentioned in the question) preparing reports and analyzing as much financial information as possible in order to best inform yourself, so that you can help you make the best and most strategic decisions for the organization. Which seems to by why RLM Inc. has hired you.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom
vodka [1.7K]

Answer:

Their average hourly productivity as a team for chicken breasts will be

45.

Explanation:

Here, it is given that Mike and Tom debone chicken breasts for Ted' chicken company.

Mike debones 30 chicken breasts,

Meanwhile Tom is having his own experience in this work and knows how to calculate the hourly work

So, Tom allows Mike to debone only 60 chicken breasts per hour.

Now its mentioned that both Tom and Mike had worked 40hrs per week.

So, their average hourly productivity as a team will be:

                 frac\ {{30} +{60}} {2}

                    ⇒ 45

So, their average hourly productivity as a team for chicken breasts will be 45.

7 0
3 years ago
Why might you choose an investment with high risk instead of one with low risk?
NeX [460]

The reason of choosing of investment with high risk instead of one with low risk because the high risks stocks, bonds are having more returns as compared to low risks,  especially long term stocks.

<h3>What is high risk investment?</h3>

High risk investment is the one who have high chance of loss of capital or under-performance or have a great percentage of amount invested in some stocks.

Some high risk investments are Cryptocurrency, Individual Stocks, Initial Public Offerings, Venture Capital or Angel Investing, Real Estate and others.

Thus, The reason of choosing of investment with high risk instead of one with low risk

For more details about high risk investment, click here:

brainly.com/question/27627260

#SPJ4

8 0
2 years ago
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