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3 years ago

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

" 2017'million 2016'million

Total asset 77 50

Total liability 18 13"

Solution:

Stockholders Equity at year end

2017 2016

Assets 77 50

Less: liabilities -18 -13

Equity at end 59 37

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 0 -17 -27

Net income 9 39 29

Total stockholders Equity 59 59 59

January 31,2017

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Marshall Company purchases a machine for $840,000. The machine has an estimated residual value of $40,000. The company expects t

natka813 [3]

If the units-of-production method is used, the depreciation expense for this period is: $136,000

Explanation:

Given:

Cost of machine= $840,000

Estimated residual value= $40,000

No of units produced during current period= 680,000 units

Expected production by the machine= 4 million units

Unit of production method= cost of asset-salvage value/useful life in the form of units produced

Depreciation per unit= (cost - residual value)/estimated life in units

= (840,000-40,000)/4,000,000

Depreciation per unit= 0.2 per unit

To calculate depreciation for period,

Depreciation for period= depreciation per unit*actual units produced in this period

= .2*680,000

Depreciation for period= $136,000

3 0

3 years ago

Partners Gary and Elaine have agreed to share profits and 1osses in an 80:20 ratio respectively, after Gary is allowed a salary

Verizon [17]

Answer:

E) None of the above

Explanation:

In partnership, the partners earn profit. The salary allowances are considered as though paid to a third party and are considered before arriving at the net income.

As such, given that net income is $30,000 and is to be shared in the ratio 80:20 between Gary and Elaine respectively.

Elaine's share = (20/100) × $30,000

= $6,000

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3 years ago

The GLBA gives customers the right to opt out of information sharing, and banks must provide customers with a reasonable opportu

Diano4ka-milaya [45]

Answer:

C) Asking the consumer to write his or her own letter to exercise that opt out right

Explanation:

The whole purpose behind the Gramm-Leach-Bliley Act (GLBA)was to allow customers the right to easily opt out of information sharing by the banks. That means that the banks are required to provide an easy way for a customer to do so, and writing your own letter might be easy for some people, but very difficult for others.

It is much easier to do it by phone, or by simply mailing back a detachable form. If the client knows how to use internet and emails properly, then the bank must provide an easy option to opt out through an email or an option that can be found in the bank's website.

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2 years ago

Valley markets has an inventory turnover of 3.2 and a capital intensity ratio of 1.9. what are the days in inventory for valley

Aleonysh [2.5K]

The days in inventory for valley markets is 114

<h3>How to calculate the days in inventory for valley markets ?</h3>

Valley markets has an inventory turnover of 3.2

The capital intensity ratio is 1.9

There are 365 days in a year, the days in inventory for valley markets can be calculated as follows

= 366/3.2

= 114

Hence the days in inventory for valley markets is 114

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

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