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Paladinen [302]
3 years ago
9

On December 31, 2016, Fall Company prepared adjusting entries that included the following items: Depreciation expense: $31,000.

Accrued sales revenue: $29,000. Accrued expenses: $12,000. Used insurance: $9,000; the insurance was initially recorded as prepaid. Rent revenue earned: $7,000; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Fall Company reported pretax income of $120,000 prior to the adjusting entries, how much is Fall's pretax income after the adjusting entries
Business
1 answer:
coldgirl [10]3 years ago
4 0

Answer: $104,000

Explanation:

Pretax income after the Adjustment = Pretax income before adjustments + Accrued sales revenue + Rent revenue earned - depreciation - accrued expenses - used insurance

= 120,000 + 29,000 + 7,000 - 31,000 - 12,000 - 9,000

= $104,000

The above were all period costs and so needed to be accounted for in the income.

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You purchased a stock at a price of $53.36. The stock paid a dividend of $1.87 per share and the stock price at the end of the y
kotykmax [81]

Answer:

Total return = 14.94%

Explanation:

Options are <em>"14.17% , 13.40% , 14.94%, 11.43%, 3.50%"</em>

End price = $59.46

Beginning price = $53.36

Dividend = $1.87

Total return = (End price - Beginning price + Dividends) / Beginning price

Total return = ($59.46 - $53.36 + $1.87) / $53.36

Total return = $7.97 / $53.36

Total return = 0.1493628185907046

Total return = 14.94%

4 0
3 years ago
Kelly Malone plans to have $51 withheld from her monthly paycheck and deposited in a savings account that earns 12% annually, co
natita [175]

Answer:

$1,774.2

Explanation:

Compute the accumulated amount in the account on the date of last deposit'

Formula used to find out the future value ordinary annuity is:

Future value factor of ordinary annuity (FVF-0A =_{n,i} ) = \frac{1-(1+i^)^ {n} }{i}

1- oily Future value of ordinary annuity (FV-OA) = R (FVF-0A_{n,i} )

Where:

R = annual return (ordinary annuity)

(FVF-0A_{n,i} ) = future value of an ordinary annuity of I for n periods at i interest

Substituting the values:

Future value of ordinary annuity (FV-OA) = R (FVF-0A_{n,i} )

                                                             = $50 (FVF-OA 12_{2.5X 12\frac{12}{12}  }  )

                                                              =$50 X 34.7849

51 X 34.7849\\=1,774

                                                    

6 0
3 years ago
The primary difference between a periodic and perpetual inventory system is that a periodic systemA)keeps a record showing the i
pishuonlain [190]

Answer:

D)determines the inventory on hand only at the end of the accounting period.

Explanation:

Due to the fact of <em>inflation, </em>change of prices over time, a periodic inventory system does not provide a better record over the cost of inventory because it is only determined once in the accounting period, usually at the end of it.

Meanwhile, a perpetual inventory system keeps a record showing the inventory at all time. That is every time a sale is made, cost of goods sold (cogs) is determined.

So if a business does not need to wait until the end of the accounting period to check (cogs),  it is better to use a perpetual system.

5 0
3 years ago
Hsu Company reported the following on its income statement: Income before income taxes $302,634 Income tax expense 90,790 Net in
7nadin3 [17]

Answer:

5.79  times

Explanation:

The times interest earned ratio tells us the number of times the company's made earnings in multiple of its debt interest obligation.

The formula for times earned interest ratio is the income before interest and taxes divided by the interest expense.

income before tax is $302,634

income before interest and taxes= $302,634+$63,228=$365,862.00  

times interest earned ratio=$365,862.00/ $63,228= 5.79  times

8 0
4 years ago
For a perfectly competitive market to function properly, which of the following must buyers and sellers have access to? adequate
harina [27]
3. For a perfectly competitive market to function properly, buyers and sellers must have access to adequate information. Adequate information is such information that the purchaser considers important for him. So the purchaser, company or investors should have an opportunity to get the information how it is.

4. Natural monopoly can be explained like the situation where one company can supply market's entire with some unique raw materials or technology. So there can't be more than one company which provides this material or technology. According to this, I think the answer is diamonds.

5. As far as I remember, oligopoly is a market that has a few firms dominating the market. That means there is a small competition as there are small number of buyers and sellers.

6. If my memory serves me well, economies of scale happen <span>when a firms' long run average costs decrease with output. So if there is no economies of scale, I'm pretty sure that costs go up.

7. I think that correct definition looks like this: Combination of two or more companies in a single firm is called a merger. Resources of both companies are pooled together, and the owners of each company remain owners. There are to types of merger entities:
-Horizontal integration - if the merged companies are competitors.
- Vertical integration - if the companies are supplier and customer.

8. I am definitely sure that the answer is: </span>Offering products of different tastes and shapes is an example of non-price competition. That means that the competing companies wouldn't challenge by lowering the prices. Every competitor will focus on highlighting benefits of their product, to show that their product is better than another one.

9. The controller of a monopoly sets the price of goods by charging the price at which the profit is maximized. Monopoly is a firm which has no competition, so they doesn't have to worry about losing their customers. Company can set monopoly price which is pretty much higher than products marginal cost. That allows company to have maximum profit.

10. Many critics argue that government efforts to regulate industries have caused inefficiencies. Inefficiency means that the company can't achieve enough productivity. This caused because of high taxes, bureaucracy and other factors.

11. This agreement is called price-fixing. Companies which have come to this conspiracy can't sell goods below fixed price. There are many way to fix price by setting the price high or low. That leaves customer no choice and makes him to buy product at the fixed price.

12. D<span>eregulating industries is not a method that the government uses to intervene and prevent firms from controlling the price and supply of important goods. Deregulation of industry means that government power in a particular industry is reduced. Deregulation removes barriers to competition.

13. I think, I'd go with this: </span><span>Price Fixing, Collusion, And Cartels. Oligopolies can arrange those three together and that lets them to charge prices like monopoly. Government stays sharp with oligopolies using this method.

14. I think it's obviously a start-up costs. Every business need money to set it up. But all of them are different and require different types of costs. So it would be appropriate to create a business plan that helps to consider different start-up costs for your business.

15. I'm 100% sure, that the answer is: C</span><span>ompared to a market with perfect competition, a monopoly often has higher prices and fewer goods. Monopoly usually provides unique raw materials and technologies. As I've mentioned before, monopoly has no competition and it lets company to charge high prices for their goods.

16. I think that the </span><span>lack of technological know-how can't prevent the company being competitive as there's not the most important factor in a particular business.

17. As far as I remember, efficiency is one of the main characteristics of competitive market, which could be achieved with minimum government intervention.

18. According to what I've mentioned above about oligopoly, correct answer should be: E</span>conomists usually call an industry an oligopoly if the four largest firms produce at least 70–80 percent of the output.

19. As I've mentioned it in question 6. total cost curve with economies of scale will decrease on the increasing output. But it refers to firms long run average total cost.

20. I'm definitely sure that the answer is: <span>It has reduced start-up costs for many businesses. Because with the Internet, there's no necessary to set up brick and mortar business. You can just build your business online by making a website. This is a huge economy.</span>
4 0
4 years ago
Read 2 more answers
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