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Temka [501]
3 years ago
12

The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:

Business
1 answer:
olchik [2.2K]3 years ago
8 0

Answer:

Kindly check attached picture

Explanation:

Given the details below

Accounts Debit Credit

Cash $16,000

Accounts receivable 162,000

Prepaid rent 10,000

Supplies 31,000

Equipment 370,000

Accumulated depreciation $129,000

Accounts payable 11,000

Salaries payable 3,500

Interest payable 1,900

Notes payable (due in two years) 37,000

Common stock 210,000

Retained earnings 176,100

Dividends 27,000

Service revenue 360,000

Salaries expense 150,000

Advertising expense 75,000

Rent expense 18,000

Depreciation expense 32,000

Interest expense 2,500

Utilities expense 35,000

Totals $928,500 $928,500

Prepare an income statement for China Tea Company for the year ended December 31, 2021

Kindly check attached picture

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An institutional client wishes to open an account at a brokerage firm, but wants the positions in the account held at a bank and
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Delivery versus payment account is the correct answer.

Explanation:

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3 years ago
The Harvest Company sponsors a defined benefit pension plan. The following information pertains to that plan: Projected benefit
tia_tia [17]

Answer:

260 million. The answer is not in the available options.

Explanation:

Projected benefit obligation as at January 01, 2018 250

Add: Service cost 30

Add: Interest Cost (250*6%) 15

Less: Retiree benefits paid 35

Projected benefit obligation as at December 31, 2018 260

3 0
3 years ago
__ are products that have low immediate appeal but may benefit consumers in the long run.
BabaBlast [244]

Salutary products are products that have low immediate appeal but may benefit consumers in the long run.

<h3>What is Long Run?</h3>

There is a time frame known as the long run during which all cost and production elements are erratic. In the long run, businesses modify every expense, but in the short term, they can only affect prices by changing their production levels. A company may also anticipate competition in the long run, even though it may currently have a monopoly in the near term.

A long run is a span of time during which a manufacturer or producer can make production-related decisions with some latitude. Depending on the predicted profits, businesses can either increase or decrease their production capacity, or enter or leave a certain industry.

In order to achieve an equilibrium between supply and demand, firms that look at the long term understand that they cannot change output levels.

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7 0
2 years ago
Ron and several fellow workers of Vicy, Inc., a small manufacturing company, wished to organize a union. When Vicy learned of th
swat32

Answer:

<em>C. Vicy has not committed an unfair labor practice. An employer may vigorously present anti-union views to its employees.</em>

Explanation:

Even though the workers were correct to establish a workers ' union in their organizing actions, employer Vicy is still within their right to voice their opinions on both the unions and how it might impact the organization's operations.

Furthermore, once Vicy authorised the press release and provided his opinions on the union of employees, it did not commit an unfair practice of labour.

Fair labor legislation allows workers to attempt to discourage workers from joining or forming a union.

What it does not encourage, though, is for employers to discriminate between their workers based on whether or not they are a part of a union.

4 0
3 years ago
Lifecycle Motorcycle Company is expected to pay a dividend in year 1 of $2, a dividend in year 2 of $3, and a dividend in year 3
inn [45]

Answer:

$67.95

Explanation:

First, find the dividend per year;

D1 = $2

D2= $3

D3= $4

D4= D3(1+g) = 4(1.07) = $4.28

Next, find the PV of each dividend given a rate of 12%

PV (D1) =2 / (1.12) = 1.7857

PV (D2) = 3/ (1.12²)= 2.3916

PV (D3) = 4/ (1.12³) = 2.8471

PV (D4 onwards) = \frac{\frac{4.28}{(0.12-0.07)} }{(1.12)^{3} } \\ \\ = \frac{85.6}{1.4049} \\ \\ =60.9296

Price = 1.7857+ 2.3916 + 2.8471 + 60.9296

Therefore, the stock should be worth $67.95

4 0
3 years ago
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