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Whitepunk [10]
3 years ago
14

During year five, estimated tax payments of$225,000 were paid and debited to prepaidtaxes. There were no differences betweenfina

ncial statement and taxable income for yearfive.Included in accounts receivable is $400,000due from a loyal customer. Special terms weregranted to this customer to make payments of$100,000 semi-annually every March 1 andSeptember 1.In JB Company's December 31, year fiveBalance Sheet, what amount should bereported as current assets?
a. 710,000
b. 910,000
c. 935,0001,
d. 135,000
Business
1 answer:
irakobra [83]3 years ago
7 0

Answer:

a. 710,000

Explanation:

Current assets are calculated as follows:

Cash: $185,000

Accounts receivable, net $725,000

Recall that a loyal customer is to make semi-annually payments of $100000 into to the tune of $400,000 accounts receivable. For the year five balance sheet, the reclassification of o/s receivable will therefore be $200000

Therefore Total current assets = $185,000+ $725,000 - $200000 = $710,000

In JB Company's December 31, year five Balance Sheet $710,000 should be reported as current assets.

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The University of Puhonicks hires several professors that specialize in accounting, management, and economics and clusters each
ANTONII [103]

Answer:

b) Function

Explanation:

The Dean placed professors in departments based on the subjects they teach or based on their functions in the school. So all professors that function as economics professors are placed in the same department. This is an example of grouping employees by functions.

In geographic grouping, professors would be grouped based on the different regions they teach.

In product grouping, employees are placed in groups based on the product they produce.

I hope my answer helps you

3 0
3 years ago
There are ten polluting firms, Firm1,. . . ,Firm10. Each firm emits 100 pounds of pollution prior to any regulations (so there a
aleksklad [387]

Answer:

Answer for the question:

There are ten polluting firms, Firm1,. . . ,Firm10. Each firm emits 100 pounds of pollution prior to any regulations (so there are currently 1,000 pounds being emitted). Each firm has constant marginal abatement costs, but the costs vary across firms. Conveniently, the firms’ names indicate their marginal abatement costs. Firm1’s marginal abatement costs are constant at $1 per pound, Firm2’s marginal abatement costs are constant at $2 per pound,. . . , and Firm10’s marginal abatement costs are $10 per pound.

a. Suppose the regulator wants to achieve a 25% reduction in pollution (250 pounds). What is the cost effective allocation of emis- sions across the ten firms?

b. What are the total abatement costs for society to achieve a 250 pound reduction in emissions?

c. The marginal damage of pollution in this city is given by MD= 4-1/250 X, where X is the total reduction in pollution. What is the optimal level of pollution?

is given in the attachment.

Explanation:

8 0
3 years ago
Jack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the follo
fredd [130]

Answer:

Current year cost of goods sold is $181,800.

Explanation:

The current year cost of goods sold is calculated as follows:

Current year cost of goods sold = Last year cost of goods sold + Current year change

= $180,000 + ($180,000 * 1%)

= $180,000 + $1,800

= $181,800

Therefore, current year cost of goods sold is $181,800.

6 0
3 years ago
Piedmont Hotels is an all-equity company. Its stock has a beta of .87. The market risk premium is 7.4 percent and the risk-free
vovikov84 [41]

Answer:

12.64%

Explanation:

In this question, we apply the Capital Asset Pricing Model (CAPM) formula which is shown below

Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

= 4% + 0.87 × 7.4%

= 4% + 6.438%

= 10.438%

The Market rate of return - Risk-free rate of return)  is also known as the market risk premium and the same is applied.

Now the required rate of return would be

= 10.438% + 2.2%

= 12.64%

7 0
3 years ago
An owner who wants to have limited liability should form which type of business enterprise?
Debora [2.8K]
They should form a corporation because a partnership or sole proprietorship have unlimited liability.
3 0
3 years ago
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