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3 years ago

The income statement for Delta-tec Inc. for the year ended December 31, Year 2, was as follows:

Business

1 answer:

postnew [5]3 years ago

8 0

Answer and Explanation:

Retain earnings, year 2

= retained earnings year 1 + earning for year 2

= $825,000 + ($245,000 - $65,000)

= $825,000 + $180,000

= $1,005,000

Therefore, The December 31, Year 2, Retained Earnings balance is $1,005,000.

trading inverstments are classified under current assets. the closing balance of trading inverstments is:

trading inverstments purchased at cost in year 2 $346,000

trading inverstments sold at cost in year 2 $66,000

balance of trading inverstments at cost $280,000

The balance sheet is present like:

D-Tec Inc

balance sheet

particulars amount($)

current asstes

trading inverstments(at cost) 280,000

valuation allowance for trading inverstment (72,500)

trading inverstments(at fair value) 207,500

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Assume the sales budget for April and May is 47,000 units and 49,000 units, respectively. The production budget for the same two

NARA [144]

Answer:

Direct material cost= $372,120

Explanation:

<u>To calculate the purchases of direct material for April, we need to use the following formula:</u>

Purchases= production + desired ending inventory - beginning inventory

Production= 44,000*3= 132,000 pounds

Desired ending inventory= (45,000*3)*0.3= 40,500 pounds

Beginning inventory= (132,000*0.3)= 39,600 pounds

Purchases= 132,000 + 40,500 - 39,600

Purchases= 132,900 pounds

Direct material cost= 132,900*2.8= $372,120

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3 years ago

If an economy consumes 68 percent of any increase in disposable income, then an increase in autonomous investment of $1 billion

madreJ [45]

Answer: The answer is $3,125,000,000

Explanation:

Since autonomous investment is government investment in the economy

68% of the increase in disposable income was consumed

Using the equation

Since Y = yd , spending in the economy is represented by

Equation C = 0.68yd, investment = $1,000,000,000

Y = C + I

Y = 0.68Y + 1,000,000,000

Y - 0.68 = 1,000,000,000

Factor out the variable Y

Y ( 1 - 0.68) = 1,000,000,000

0.32Y = 1,000,000,000

Divide both sides by 0.32

0.32Y/ 0.32 = 1,000,000,000 / 0.32

Y = 3,125,000,000

Therefore the increase in total spending will be $3,125,000,000

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4 years ago

Adrian contributed an antique vase she had owned for 25 years to a museum. At the time of the donation, the vase had a value of

qaws [65]

Answer:

How much may Adrian deduct?

This depends on whether the museum is private or not. If the museum belongs to a public charity or a university, then Adrian can deduct full fair market value = $35,000. Since Adrian's AGI is $80,000, she could donate up to $40,000 (half her AGI).

But if the museum is a private organization, then Adrian can deduct only her basis in the vase = $15,000

How would your answer to Part a change if, instead of displaying the vase, the museum sold the vase to an antique dealer?

Once you donate artwork, unless you strict prohibit the museum from selling it, then they can sell it and you cannot do anything about it. Some donors specific certain terms for their donations, e.g. artwork cannot be sold and it must be exhibited at least a certain amount of time, in certain places, etc. But if Adrian didn't include any clause on her donation, then whatever happens to the vase is up to the museum.

Currently, museums are less likely to accept restricted donations, unless of course the artwork is worth it.

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4 years ago

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Dmitry_Shevchenko [17]

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3 years ago

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More efficient
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3 years ago

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