1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bond [772]
3 years ago
13

Begin by reviewing the labels for the change in​ stockholders' equity and then enter the amounts for each situation.

Business
1 answer:
Luda [366]3 years ago
7 0

Answer:

Note: The missing part of the question is

"                          <em>2017'million    2016'million</em>

<em>Total asset             77                  50</em>

<em>Total liability           18                  13"</em>

<u>Solution:</u>

Stockholders Equity at year end

                         2017     2016

Assets      77        50    

Less: liabilities   <u>-18</u>       <u>-13</u>

Equity at end     <u>59</u>       <u>37</u>

Note: Situation 1, 2 and 3 is the same as question 1, 2 and 3

                                          Situation 1   Situation 2  Situation 3

                                             $'million     $'million      $'million

Total stockholders Equity            37            37              37

Jan 31 ,2016

Add: Issuance of stock                13              0               20

Less: dividend declared               <u>0             -17              -27</u>

Net income                                    <u>9             39               29</u>

Total stockholders Equity             59           59              59

January 31,2017

You might be interested in
Jessica works for ABC Shoes. At​ ABC, Jessica is responsible for establishing​ structure, strategic​ goals, and guiding her empl
vesna_86 [32]

Answer: Top Manager

Explanation:

Top manager are managers at or near the upper levels of the organization structure who have the responsible for making organization wide decisions and establishing the plans and goals that affect the entire organization.

Top managers typically have titles such as executive vice president, president, managing director, chief operating officer, or chief executive officer.

3 0
2 years ago
Lance’s Diner has a hot-lunch special each weekday and Sunday afternoon. The cost of food and other variable costs for each meal
Bumek [7]

Answer:

(a) $700

(b) $5.50

Explanation:

Weekly fixed costs = $6,000

Weekly Total meals = Average customers per day × No. of days

                                 = 500 × 6

                                 = 3,000

Fixed cost per meal = Weekly fixed costs ÷ Weekly Total meals

                                  = $6,000 ÷ 3,000

                                  = $2

(a) Lowest price in total = Number of customers × Variable costs for each meal

                                       = 200 × $3.50

                                       = $700

(b) Lowest price = Variable costs for each meal  + Fixed cost per meal

                           = $3.50 + $2

                           = $5.50

5 0
3 years ago
Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business,
ArbitrLikvidat [17]

Answer: (1) journal Total Dr $27,282, Cr $27,282 (2) cash Account Dr: Total $21,823, Cr Balance c /d $19,613 Total $21,823, salary payable Total Dr $381, Cr $381,Account receivable Account Dr :Total $1,929 Cr Total $1,929, salary expense Account Dr Total $ 1,524 Cr: $1,524, common stock Total Dr : $18,270 Cr: Total $18,270, Supplies Account Total Dr : $1,320, Cr $1,320, Account Payable Total Dr :$1,320, Cr :Total $1,320, service revenue Total Dr : $4,771, Total Cr : $4,771, unearned revenue Total Dr :$712, Total Cr :$711, (3) Trial Balance Total Dr $24,767, Total Cr : $24,767

Explanation:

(1) The journal entry for the transaction will be

Apr 1 Dr : Cash $18,270, Cr : common stock $18,270

Apr1 Dr: salary payable$381,Cr: cash $381

Apr 2 No entry required

Apr 3 Dr : supplies $1,320, Cr : Account payable $1,320

Apr 10 Dr Account Receivable $1,929, Cr : service revenue $1,929

Apr 11 Dr cash$ 711,Cr: unearned revenue$ 711

Apr 20 Dr: Cash $2,842, Cr : service revenue $2,842

Apr 30 Dr : $ Account Payable $305 Cr : Cash $305

(2) The T Account will be

Cash Account

Dr common stock $18,270, unearned revenue $711, service revenue $2,842

Cr : salary payable $381, salary expense $1,524, Account payable $305,Bal c/d $19,613 Total Dr $21,823, Cr : $21,823

Salary payable Account

Dr : cash $381,Cr: Balance c/d $381 Total Dr $381,Cr :$381

Account Receivable Account

Dr: service revenue $1,929, Cr: Balance c/d $1,929 Total Dr $1,929, Cr $1,929

Salary expense Account

Dr: salary expense $1,524, Cr Balance c/d $1,524, Total Dr $1,524,Cr $1,524

Common Stock

Dr : Balance c /d $18,270, Cr :Cash $18,270 Total Dr $18,270, Cr $18,270

Supplies Account

Dr: Account payable $1,320, Cr Balance c /d $1,320, Total Dr $1,320, Cr $1,320

Account Payable

Dr: Cash $305,Balance c/d $1,015, Cr supplies $1,320, Total Dr $1,320, Cr $1,320

Service Revenue Account

Dr Balance c /d $4,771 Cr : Account Receivable $1,929, cash $2,842, Total Dr $4,771, Cr $4,771

Unearned Revenue Account

Balance c/d $711, Cr cash $711, Total Dr $711,Cr $711

(3) The trial balance as on 30/04/2017

Dr: Cash $19,613, salary payable $381, supplies $1,320, Account Receivable $1,929, salary expense $1,524 Total $24,767

Cr : Common Stock $18,270, Account Payable $1,015, service revenue $4,771, unearned revenue $711 Total $24,767

6 0
3 years ago
Choose TWO of the responses that describe disadvantages of Roth IRAS
insens350 [35]

Answer:

You pay taxes upfront

the maximum contribution is low

Explanation:

UTP quiz

6 0
2 years ago
Demand curves intersect the quantity axis due to​ ________ and intersect the price axis due to​ ________.
igor_vitrenko [27]

Answer:

time limitations in limited marginal utility; limited income and wealth

Explanation:

Demand curves intersect the quantity axis due to time limitations in limited marginal utility, which explains the second law of demand – the lower the price, the higher the quantity demanded. While it intersects the price axis due to limited income and wealth, which also explains the second law of demand – the higher the price, the lower the quantity demanded.

The marginal utility of a consumer is limited, because, the more of the goods consumed, the amount of satisfaction derived decreases. Hence, the demand curve intersects the quantity axis, indicating the point when the consumer derives no more satisfaction from the consumption of that good.

On the other hand, as a result of limited income of the consumer, it would come to a point when the consumer will not be able to purchase any quantity of the goods as the price increases. The point at which the demand curve intersects the price axis, indicates he point where the consumer income cannot purchase any quantity of the goods.

6 0
3 years ago
Other questions:
  • 5. A garden plant that has been passed down within a food family and is generally not commercially grown is called a/an _______
    10·1 answer
  • A(n) _____ résumé is the most popular format. It places information in order from most to least recent. Employers tend to prefer
    6·1 answer
  • Tru or false? the older traditional form of management structure is the horizontal organization
    7·1 answer
  • PLEASE HELP!
    9·1 answer
  • Bonnie Austin, age 30, used to work part time in a local restaurant. This year she quit her job to take care of her five-month-o
    7·1 answer
  • Suppose that preferences over private consumption C and public goods G are such that these two goods are perfect substitutes, th
    13·1 answer
  • Why should you purchase insurance?
    5·1 answer
  • According to the _____________ of Alderfer’s ERG theory, an already-satisfied lower-level need can become reactivated when a hig
    7·1 answer
  • If a driver with an insurance policy drives infrequently, it can
    9·2 answers
  • Which transfer of ownership would not be excluded from property tax reappraisal?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!