1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
EastWind [94]
3 years ago
15

During its first year of operations, Anthony Lupa set up Lupo Inc. and invested $15,000 in the corporation. The company earned $

35,000 of revenues and incurred $23,000 of expenses. A cash dividend of $2,000 was paid to Anthony. At the end of the year, the company's equity totaled:__________.a. $13,000b. $15,000c. $25,000d. $75,000
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:

Company's equity = $25,000

Explanation:

Given:

Amount invested = $15,000

Earned Revenue = $35,000

Expenses = $23,000

Cash dividend = $2000

Find:

Company's equity

Computation:

Company's equity = $15,000 + $35,000 - $23,000 - $2,000

Company's equity = $25,000

You might be interested in
Andreasen Corporation manufactures thermostats for office buildings. The following is the cost of each unit. Materials $ 36.00 L
ICE Princess25 [194]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The following is the cost of each unit:

Materials $ 36.00

Labor 14.00

Variable overhead 4.00

Fixed overhead ($1,890,000/105,000 units) 18.00

Total $ 72.00

Simpson Company has approached Andreasen with an offer to buy 8,000 thermostats for $60 each. The regular price is $100.

Simpson requires that each unit use its branding, which requires a more expensive label, resulting in an additional $2.00 per unit material cost. The Simpson order will also require a one-time rental of packaging equipment for $30,000.

Because this is a special offer and we have unused capacity, we will not have into account the fixed costs.

A)

Costs:

Materials $ 36.00

Labor 14.00

Variable overhead 4.00

Label= 2

Total variable cost= $56

Total cost= 56*8000 + 30000= $478,000

B) Sales= 8000*60= $480,000

Costs= 478,000

Gross profit= 2,000

The offer is profitable.

C) break-even point= fixed costs/ contributionmargin= 30000/ (60-56)= 7500 units

5 0
3 years ago
Luis consulting started the year with total assets of $60,000 and total liabilities of $17,000. during the year, the business re
BARSIC [14]
Owner's equity at the beginning of the year is
Assets-liabilities
60,000−17,000=43,000

Owner's equity at the end of the year is
Beginning balance+revenues-expenses+additional investment-withdrawal amount
43,000+48,000−36,000
+8,000−9,000
=54,000

Owner's equity changed by
ending balance-beginning balance
54,000−43,000=11,000. ..answer
6 0
3 years ago
Suppose the country of Altaria only produces one good, pink tutus. Last year, nominal GDP was $50,000 and this year it is $200,0
Helga [31]

Answer:

E. None of the above

Explanation:

because the price level is not known, we can not tell definitely that the output is increased or unemployment is decreased or standard of living is increased .

Therefore, we cannot conclude on anything.

​

3 0
3 years ago
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquire
cupoosta [38]

Answer:

Total Assets $84,800

Explanation:

Calculation for Maben TOTAL ASSETS

1 Cash increased $ 32,000

2 Cash increased $ 38,000

3 Cash increased by cash revenue $ 50,000

4 Cash decreased by expenses paid ($ 46,000)

5 Cash decreased by the amount of dividend ($ 1,200)

6 Cash received from issue of stock $ 22,000

7 Cash paid to reduce liability ($10,000)

8 Does not have effect on Total Assets $ -

9 It will not be considered for accounting $ -

TOTAL ASSETS $ 84,800

Therefore the amount of total assets that Maben would report on the December 31, Year 1, balance sheet will be the amount of $84,800.

6 0
2 years ago
When current real output exceeds potential real output, the federal reserve will _____ interest rates in an effort to fight ____
Serggg [28]
<span>When current real output exceeds potential real output, the federal reserve will increase interest rates in an effort to fight inflation.
Fed stands for federal reserve system and it refers to the </span>central banking system of the United States, which  was created on December 23, 1913.<span> There are twelve regional banks that are included in the Federal Reserve System.</span>
5 0
3 years ago
Other questions:
  • Peter is playing hide and seek with his six year old nephew teddy peter decides to look around the house room by room and then s
    11·1 answer
  • The manager of the marketing team has thoughtfully selected team members with their strengths in mind to play roles based on the
    9·2 answers
  • The owner’s equity section of the balance sheet for the Blue Top Taxi Company shows that
    14·1 answer
  • If management identifies even one material weakness in internal control, then management will conclude that the organization’s i
    9·1 answer
  • What is the elastic clause and how does it help the constitution remain relevant?
    12·1 answer
  • Which of these is the concept that a unit's sales will follow an approximate bell-shaped curve versus a steady sales life?
    11·1 answer
  • Lindsay is training two new sales representatives, Lance and Ayden, to use the revised client-tracking database, which has been
    7·1 answer
  • Assume for Guatemala that the domestic price of coffee without international trade is higher than the world price of coffee. Thi
    7·1 answer
  • How do employees and managers know what decision-making authority they have regarding firm assets?
    11·1 answer
  • Production Budget
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!