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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

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Nutka1998 [239]

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6 0
1 year ago
Nivan Co. issued $500,000 of 5 percent, 10-year, callable bonds on January 1, Year 1, at their face value. The call premium was
Sav [38]

Answer and Explanation:

The journal entries are shown below:

On Jan 1

Cash $500,000

          To Bond Payable  $500,000

(Being the issuance of the bond is recorded)

On Dec 31

Bond Payable $500,000

Loss on redemption $15,000    ($500,000 × 3%)

          To Cash    ($500,000 × 103%)  $515,000

(Being the redemption of the bond is recorded and the remaining balance or we can say balancing figure is debited to loss on redemption)

8 0
3 years ago
Chad, who owns the only coffee shop in Rivercity, learns that Jose is about to open a competing coffee shop in the same small to
Leya [2.2K]

Answer:

Rivercity Coffee Shop

Chad cannot sue Jose.  The $10,000 is paid to Jose is a bribe.  Since a bribe is not legal, it cannot form the basis for an enforceable contract.

Moreover, the offer by Chad is an antitrust and anti-competition consideration that is legally frowned upon. illegal contract

Explanation:

For a contract to be enforceable, it cannot be illegal.  A bribe is illegal.  The basis for the contract is illegal.  Therefore, Chad cannot sue Jose.  Since Jose decided to breach the contract, neither Chad nor Jose is entitled to any compensation.  Jose cannot be held liable for non-performance.

6 0
3 years ago
KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken
andrew-mc [135]

Answer:

D. Product Invention

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            In China, KFC invented a new dish and named it the "Dragon Twister". In this dish, it contains a chicken wrap with Peking duck sauce on it. It highly resembles the local food of China.

           Thus KFC tries to promote and do marketing of its product in China by inventing new dishes which is similar to the local Chinese food and adding it to the menu list of KFC.

             By this, Chinese people will be attracted towards KFC and will come to try their newly invented "Dragon Twister".

Thus, the answer is D. Product Invention.

6 0
3 years ago
A key characteristic of pandemic influenzas is that they:
d1i1m1o1n [39]

Answer:

The correct option is D

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8 0
3 years ago
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