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irina [24]
3 years ago
10

Crystal Lodging recorded $330,000 in revenues, $247,500 in expenses, and $45,000 of dividends for the year. The company began th

e year with total assets of $285,000 and stockholder's equity of $130,500. Suppose that liabilities increased by $90,000 and stockholders' equity increased by $37,500. What would be the change in Crystal Lodging's assets? Multiple Choice a.$168,000 Increase b.$127,500 increase c.$154,500 increase
Business
1 answer:
Brilliant_brown [7]3 years ago
7 0

Answer:

b.$127,500 increase

Explanation:

Using Accounting Equation we can find thetotal increase in total assets:

Assets = Equity + Liabilities

Change in Assets = Change in Equity + Change in Liabilities

Change in Assets = $37,500 + $90,000

Change in Assets = $127,500

Total Change in equity and liabilities will be equal to the change in Assets.

So, the correct answer is b.$127,500 increase.

You might be interested in
A vice president of operations wants to evaluate the impact of reducing manufacturing expenses on the firm's return on assets. W
frosja888 [35]

Available Options Are:

a. Cost of Goods Sold

b. Net Profit Margin

c. None of these

d. Asset Turnover

Answer:

Option B. Net Profit Margin

Explanation:

The increase or decrease in cost of Goods sold can not tell whether the return on assets has increased or decreased becuase it would only tell that the expense are decreased or increased not the profit. Which means it only tells one side of the story hence Option A is incorrect.

Option B is correct because it talks about the profit. If the manufacturing cost has been decreased then the it must increase the profit. Because if the profits has increased then the return on asset will increase. Hence the Option B is correct here.

Option D is incorrect because asset turnover formula is:

Asset Turnover = Sales / Total Assets

The decrease in manufacturing cost will not increase the sales because sales and total assets are independent of manufacturing expenses hence the Option D is incorrect.

3 0
3 years ago
QUESTION 10
melisa1 [442]

Answer:

business

Explanation:

Business is a term that generally describes a firm, company, or individual's combined activities, or system that deal with the creation of commodities or services for the purpose of meeting the targeted consumers' demands.

In order to meet the targeted consumers' demands, businesses transform lower-value inputs into high-value outputs.

Hence, in this case, the correct answer is BUSINESS

5 0
3 years ago
As the owner of a party store, you have decided to lower the price for all balloons this month. What do you expect to happen?
Ulleksa [173]

Answer:

Quantity demanded for balloons will increase.

Explanation:

According to the law of demand, there is an inverse relationship between the price of the commodity and the quantity demanded for that commodity.

This means that if there is an increase in the price of a good then as a result the quantity demanded for that good decreases and on the other hand if there is a fall in the price of a good then as a result the quantity demanded for that good increases.

Therefore,

Fall in the price of balloons will lead to increase the quantity demanded for balloons.

3 0
3 years ago
The contrast error is committed when the rates rate people:
serious [3.7K]

Answer:

d) relative to others instead of against performance standards.

Explanation:

Contrast error is one that occurs during performance rating where a person is not rated objectively, but against previous people who performed good or badly.

The person's ratings is affected negatively or positively.

A person that performs well subconsciously sets a benchmark in the mind of the rater, and he now rates future participants based on this benchmark and not on performance standards that have been set.

5 0
2 years ago
John Jansen, an employee of Redwood Company, had gross earnings for the month of May of $4,000. FICA taxes are 7.65% of gross ea
Anastasy [175]

Answer:

The net pay for John Jansen is $2894

Explanation:

For calculating the net pay for John Jansen we have to subtract all the FICA taxes and federal income taxes and also state income taxes, with authorized voluntary deductions also being subtracted from the gross earnings .

Given information -          Gross earning                         = $4000

                                         FICA taxes                                = 7.65%

                                         Federal income taxes               = $675

                                         State income taxes                    = 3%

                                       Authorized voluntary deductions = $5

One important to remember here is that FICA taxes and State taxes would be calculated on the gross earnings of John

FICA taxes = 7.65% of $4000

                  = .0765 x $4000

                  = $306

State taxes = 3% of $4000

                   = .03 x $4000

                   = $120

NET PAY = gross earnings - FICA tax - state tax - federal income tax -

                                                         authorized voluntary deduction

   = $4000 - $306 - $120 - $675 - $5

   = $2894

 

7 0
3 years ago
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