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3 years ago

Use the following information to answer the question about BobCat Co. at the end of 2017:

Business

1 answer:

Tom [10]3 years ago

5 0

Answer:

c. $34,575

Explanation:

Data provided in the question

Accounts receivable = $44,890

Accounts payable = $6,405

Cash = $16,070

Common stock = $42,500

Long-term notes payable = $20,600

Merchandise inventory = $28,475

Salary Payable = $28,170

Retained earnings = $50,465

Prepaid insurance = $2,365

So, The computation of the current liabilities are as follows

= Accounts payable + salary payable

= $6,405 + $28,170

= $34,575

Therefore, the current liabilities only includes the account payable and the salary payable.

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Why are they giving $110,000 more?

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3 years ago

Internal processes of a company contribute to the company's overall effectiveness. Identifying ways to improve internal processe

Contact [7]

Answer:

Explanation:

Internal processes of a company contribute to how effective the company runs. Looking for areas and ways to improve the internal processes will aid in building an organization that is highly efficient. The major causes needs to be known.

Ways of identifying the root causes might not be possible until basic analysis is carried out or sometimes it might be visible depending on the major problem facing the organization internally.

Internal process of a company increase the effectiveness of such company, identifying how to improve these internal processes helps to build an organization that is highly efficient.

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3 years ago

Paulson Company began the year with retained earnings of $500,000. During the year, the company issued $720,000 of common stock,

Murljashka [212]

Answer:

Revenue for the period = $2,100,000

Explanation:

Provided information,

Opening balance of retained earnings = $500,000

Expenses recorded for the period = $2,000,000

Dividends paid during the period = $80,000

Closing balance of retained earnings = $520,000

Therefore increase in retained earnings = $520,000 - $500,000 = $20,000

Earnings for the period - Expenses for the period - Dividend for the period = $20,000

Now, putting values in above,

Earnings - $2,000,000 - $80,000 = $20,000

Earnings = $20,000 + $80,000 + $2,000,000 = $2,100,000

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3 years ago

Determine the amount of consumer surplus generated in the following situation. After soccer practice, Stacey is willing to pay $

AlladinOne [14]

Answer:

The answer is: There was no consumer surplus in this situation.

Explanation:

consumer surplus refers to the difference between the maximum amount a consumer is willing to pay for a good or service and the actual price of the good or service.

In this case there was no consumer surplus, since Stacey was willing to pay only $2 for a bottle of mineral water and its price was $2.25, so she didn't buy it.

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2 years ago

8.Kline and Salomon form the KS Partnership as 50/50 partners. Kline contributes equipment that has a fair market value of $60,0

mojhsa [17]

Answer: $40,000

Explanation:

Kline brings in equipment that is worth $60,000 but has a basis of $45,000.

The equipment however is subject to a loan of $10,000.

This loan will have to be deducted from the basis. The partnership however is assuming the loan and Kline is only 50% liable in the partnership so Kline's basis will only be affected by half of the loan.

Basis = 45,000 - 5,000

= $40,000

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3 years ago