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4 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]4 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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If a monopolist in an industry characterized by monopoly features is making economic profit in the short run, which of the follo

zheka24 [161]

Answer: The monopolist will be able to sustain economic profits

Explanation:

If a monopolist in an industry characterized by monopoly features is making economic profit in the short run, then the monopolist will be able to sustain economic profits.

The economic profit is gotten when the explicit cost and the opportunity costs are both deducted from the revenues generated by a business.

Since there is high barrier to entry and the monopoly is the only firm in the market, then the monopolist will be able to sustain economic profits.

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3 years ago

After all of the account balances have been extended to the Income statement columns of the worksheet, the totals of the debit a

Masja [62]

Answer:

a. $7, 283 net income

Explanation:

The debits in an income statement represents the expenses while the credit entries represent the income. As such, given;

Total debits = $20,303

Total credits = $27,586

Net income/(loss) = $27,586 - $20,303

= $7,283

Since the total credit (income) is more than the total debit, the net of the two balances result in a net income.

The answer is a. $7, 283 net income.

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3 years ago

What are the relationship between household and commercial bank

Sindrei [870]

Does this help?

All commercial banks must keep an account with the Central Bank. These balances are used for cheque clearing purposes between banks. Payments for cheques between banks are set off at the Central Bank’s clearing house. The Central Bank can also demand commercial banks to deposit a certain percentage of their total deposits with the central bank in order to control the money supply.

The Central Bank is a lender of last resort and will aid commercial banks when needed. The Central Bank dictates the interest rate that commercial banks can offer by setting the bank rate. This is the interest rate set by the Central Bank and the rate at which commercial banks and the Central Bank do business, e.g. loans offered by the Central Bank to commercial bank.

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3 years ago

A company with $900,000 in operating assets is considering the purchase of a machine that costs $92,000 and which is expected to

Alex

Answer:

3.83 years

Explanation:

The payback period measures how long it takes for the amount invested in a project to be recovered from the cumulative cash flows.

It is a capital budgeting technique that doesn't account for the time value of money.

Payback period = Cost of asset / cash flows

$92,000/ $24,000 = 3.83 years

I hope my answer helps you

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3 years ago

Read 2 more answers

Aggregate planners attempt to balance Multiple Choice capacity and demand. capacity and costs. capacity and inventories. demand

charle [14.2K]

In the economic world, the aggregate planners are always attempting to balance the capacity and demand.

<h3>Who are the aggregate planners?</h3>

These are economic planners who are involved in the process of planning the overall capacity so that they can respond to predicted demand in a cost-effective manner.

Hence, these aggregate planners are always attempting to balance the capacity and demand.

Therefore, the Option A is correct.