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3 years ago

On December 31, Patterson Company had the following list of account balances.

Business

1 answer:

ElenaW [278]3 years ago

5 0

Answer:

Patterson Company

Balance sheet as at December 31

Fixed Assets:

Equipment $50,800

Less: Accumulated Depreciation, Equipment $10,700

Buildings $119,000

Less: Accumulated Depreciation, Buildings $63,900

Total Fixed Assets $95,200

Current Assets:

Accounts Receivable $44,000

Prepaid Rent $14,700

Cash $39,900

Supplies $10,800

Total current Assets $109,400

Current Liabilities:

Accounts Payable $42,300

Salaries Payable $8,900

Total current liabilities $51,200

Total Net Assets = $153,400

Shareholders Equity:

Capital Stock $57,000

Retained earnings $96,400

Shareholders equity $153,400

Income statement.

Service Revenue 121,600

Supplies Expense 9,000

Gross Profit 112,600

Less expenses:

Depreciation Expense, Equipment 4,600

Depreciation Expense, Buildings 8,300

Rent Expense 11,000

Salaries Expense 6,100

Net income $82,600

Dividends $17,300

Transfer to retain earnings $65,300

Beginning Retained Earnings 31,100

Closing retained earnings $96,400

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Dawn grew up helping her father work on cars in his auto repair shop and developed into an excellent auto technician. Because of

OlgaM077 [116]

Answer: The stereotypes have led Dawn to seek out companies that value Gender Egalitarianism. Therefore the answer is TRUE. Option A.

Explanation: Gender Egalitarianism simply refers to the phenomenon whereby there is equality among both sexes, and a situation in which both sexes, regardless of gender, possess equal access to opportunities without discrimination.

Gender Egalitarianism can also be referred to as Gender Equality.

In a society with high Gender Egalitarianism, the following can be observed:

1. Women are key decision makers.

2. Women have attained the same level of education as men.

3. Women are in more positions of authority.

4. Women are segregated less in the workplace.

3 0

3 years ago

A firm sells two products, Regular and Ultra. For every unit of Regular the firm sells, two units of Ultra are sold. The firm's

Umnica [9.8K]

Answer:

break even rate = $31000

ultra break even point = $62000

Explanation:

given data

total fixed costs = $1,612,000

solution

WE FIND HERE FIRST contribution margin that is

contribution margin for regular per unit = $20 - $8

contribution margin = $12

and

contribution margin for ultra = $24 - $ 4

contribution margin for ultra = $20

so if 1 unit of regular is sold

2 unit of ultra will sold here

contribution margin is here

contribution margin = ( $12 × 1 )+ ( $12 × 2 )

contribution margin = $52

and

break even point at commposite rate = total fix cost ÷ contribution margin rate at commposite rate

break even rate = $\frac{1612000}{52}$

break even rate = $31000

and

ultra break even point = 31000 × 2

ultra break even point = $62000

4 0

3 years ago

Lusk Corporation produces and sells 14,300 units of Product X each month. The selling price of Product X is $25 per unit, and va

zloy xaker [14]

Answer:

Annual financial disadvantage = $ (669,600)

Explanation:

Relevant cost are future incremental cash costs that arise as a direct consequence of a decision.

The relevant costs of this decision to disconnected includes the following:

The variable cost of making the product = $19 per unit
Sales revenue at a price of $25
Savings in avoidable fixed costs (102,000-72,000) = 30,000

Annual financial advantage

Lost contribution $(25-19)× 4,300 units = (85,800)

Saving in fixed cost = 30,000

Monthly net loss 55,800

Annual financial disadvantage

Monthly net loss × 12 months

= (55,800) × 12

= $ (669,600)

8 0

3 years ago

At what amount is a short-term notes receivable recorded on the issue date?

laiz [17]

Answer:

At face value

Explanation:

Short term notes are always recorded at face value, and that applies to both interest and non-interest bearing short term notes.

Non-interest bearing long term notes must be recorded at their discounted value, i.e. you must discount the long term note' face value by the discount rate used by the company.

6 0

3 years ago

A stock trading company had the budget for enhancing its secondary datacenter approved. Since the main site is in a hurricane af

marshall27 [118]

Answer:

The correct answer is hot site.

Explanation:

A hot site is a site where a company's operation can take place after a disaster. it is a duplicate of the original site and is situated at an off-premises location. It is a backup site which has all the equipment that is required to continue operations. it is always online and immediately available.

A warm site has lesser equipment than a hot site and requires more time to be operational. A cold site has the least equipment and takes a few days to be operational but is the cheapest alternative.

Since the company here wants the business to resume in the least time it should go for a hot site.

8 0

3 years ago