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In-s [12.5K]
3 years ago
13

The following items are components of a traditional Balance Sheet. How much are the total assets of the firm?

Business
1 answer:
Anestetic [448]3 years ago
6 0

Answer:

$ 59,000

Explanation:

The total Asset is compounded of:

Plant and Equipment $42,000

Cash $ 8,000

Inventory $21,000

Allowance for Uncollectable Accounts   $ 6,000 ( <u>negative</u>, netting Accounts Receivables )

Accumulated Depreciation $28,000 ( <u>negative</u>, netting Plant and Equipment )

Accounts Receivable $22,000

<u>Assets ( Net ) </u>: $ 59,000

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The balance of​ Morgan, Capital at the beginning of the year and the end of the year was $ 45,000 and $ 70,000​, respectively. T
Anna35 [415]

Answer:

$48,000

Explanation:

Given that,

Ending owner's equity = $70,000

Beginning owner's equity = $45,000

Owner's withdrawals = $23,000

There were no new capital contributions during the year.

Net income (loss):

= Ending owner's equity - Beginning owner's equity + Owner's withdrawals

= $ 70,000 - $ 45,000 + $ 23,000

= $48,000

Therefore, the net income for the year is $48,000.

6 0
3 years ago
​If, in the long​ run, real GDP returns to its potential​ level, then in the long​ run, A. the Phillips curve represents a struc
Arada [10]

Answer:

C. the Phillips curve is vertical

Explanation:

Philips Curve shows the inverse relationship between inflation rate & unemployment level. High inflation rate implies low unemployment rate; and low inflation rate implies high inflation rates. Economic growth (output rise) leads to inflation & reduces unemployment ; Economic slowdown (output fall) leads to deflation & increases  unemployment.  

However; In long run, real GDP (output level) returns to its potential​ level. So; output level defining the inverse relationship (trade off) between inflation rate & unemployment level, is stable. Hence, inflation rate & unemployment level have no inverse (trade off) relationship & they are unrelated. Therefore, the long run Phillips curve is vertical.  

7 0
3 years ago
Read 2 more answers
Predetermined Overhead Rate, Applied Overhead, Unit Cost Ripley, Inc., costs products using a normal costing system. The followi
jok3333 [9.3K]

Answer:

1. $28

2. $278,040

3. $7,560 under-applied

4. $8.8536

Explanation:

The computation is shown below

1. Predetermined overhead rate = (Total Budgeted: Overhead) ÷ (estimated direct labor-hours)

= $285,600 ÷ 10,200 hours

= $28

2. The applied overhead would be

= Actual direct labor-hours × predetermined overhead rate

= 9,930 hours × $28

= $278,040

3. The over applied or under applied would be

= Actual manufacturing overhead - applied overhead

= $285,600 - $278,040

= $7,560 under-applied

4. Total cost per unit would be

= (Prime Cost + Applied Overhead) ÷ (Number of units)

= ($1,050,000 + $278,040) ÷ (150,000 units

= $1,328,040  ÷ 150,000 units

= $8.8536

7 0
2 years ago
Sophia Martin's goal has been to travel around the world. She has now been traveling for six months and she has decided she is a
Usimov [2.4K]

Answer:

Identifying alternative course of action

Explanation:

In this scenario Sophia made an initial financial plan in which she would travel around the world.

As she gets tired of this line of action she can identify other activities that will better suit her. So when she decides to go home, look for a part time job, and take shorter trips to locations around the world that appeal to her. She is identifying alternative course of action.

This new action will eventually have financial implications when implemented. In this case coming home and making only short trips will save her more money. She will also get money from her job.

3 0
3 years ago
THis is funny lol my class is boring hehe I need help with my homework who can be my homework boy/girl?
Lana71 [14]

Answer:

me

Explanation:

any question

at all      

me

7 0
2 years ago
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