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artcher [175]
3 years ago
10

Park & Company was recently formed with a $6,200 investment in the company by stockholders in exchange for common stock. The

company then borrowed $3,200 from a local bank, purchased $1,120 of supplies on account, and also purchased $6,200 of equipment by paying $2,120 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are:
a) $14,600.

b) $12,400.

c) $11,520.

d) $9,400.
Business
1 answer:
KengaRu [80]3 years ago
4 0

Answer:

a) $14,600.

Explanation:

The computation of the company total assets are shown below:

= Cash balance + supplies balance + equipment balance

where,

Cash balance =  investment amount + borrowed amount - paid amount for equipment

= $6,200 + $3,200 - $2,120

= $7,280

And, the other item values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $7,280 + $1,120 + $6,200

= $14,600

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A process with no beginning work in process, completed and transferred out 85500 units during a period and had 49400 units in th
AlekseyPX

Answer:

C. 95380 equivalent units

Explanation:

Equivalent units is the term used for proportionately equally completed units. This is basically used for allocation of overheads.

Here, actually completed that is 100% complete units = 85,500 units

Further units under work in process = 49,400

Which are 20% complete.

This means that incomplete 49,400 units = 49,400 \times 20% = 9,880 units 100% complete

Thus, total equivalent units = 85,500 + 9,880 = 95,380 units.

8 0
3 years ago
What's your fav video game and why
Natali [406]

Answer:

Any game with Yoshi in it or Danganronpa.

  • Any yoshi game because I love Yoshi.
  • Danganronpa because of brutal murdering.

8 0
2 years ago
Read 2 more answers
On November 1, Bahama National Bank lends $3.8 million and accepts a six-month, 6% note receivable. Interest is due at maturity.
babymother [125]

Answer and Explanation:

The journal entries are shown below:

a. Note receivable Dr $3,800,000

        To Cash $3,800,000

(Being the acceptance of the note is recorded)

For recording this we debited the note receivable as it increased the assets and credited the cash as it decreased the liabilities

b. Interest receivable Dr  $38,000

                 To Interest revenue  $38,000

(Being the interest revenue is recorded)

For recording this we debited the interest receivable as it increased the assets and credited the interest revenue as it increased the revenue

The computation is shown below:

= $3,800,000 × 6% × 2 months ÷ 12 months

= $38,000

,

7 0
3 years ago
According to Lucas and​ Sargent, workers and firms have rational​ expectations, and therefore if the Fed pursues an expansionary
NeX [460]

Answer:

D. agents will immediately adjust their expectations of inflation up.

Explanation:

Expansionary monetary​ policies are geared towards stimulating economic growth. The Fed can impose lower interest rates or purchase bonds and securities in open market operations as expansionary tools. Lowering interest rates encourages banks and other lending institutions to lend money to firms and households.  

Purchasing bonds and securities adds money to the banking system. The increased money will be loaned out to businesses and individuals. The availability of low-cost credit motivates firms to borrow and expands their business capacities. When households borrow with ease, it leads to an increase in consumption expenditure.  These actions result in too much money in circulation, which is inflation.

4 0
3 years ago
Rico bought 100 shares of Banana Republic stock for $24.00 per share on January 1, 2010. He received a dividend of $2.00 per sha
dimaraw [331]

Answer:

12.5%

Explanation:

We have to first calculate Rico's gain per share during the 2010-2012 period:

Rico's gain = -initial purchase price + dividend 1 + dividend 2 + dividend 3 + sales price

Rico's gain = -$24 + $2 + $3 + $4 + $18 = $3

$3 represents a 12.5% [= ($3 / $24) x 100] rate of return for the holding period.

B. 12.5%

Rico bought 100 shares of Banana Republic stock for $24.00 per share on January 1, 2010. He received a dividend of $2.00 per share at the end of 2010 and $3.00 per share at the end of 2011. At the end of 2012, Rico collected a dividend of $4.00 per share and sold his stock for $18.00 per share. What was Rico's realized holding period return? (Pick the closest answer.)

7 0
3 years ago
Read 2 more answers
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