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oksano4ka [1.4K]
3 years ago
10

The classified balance sheet for a company reported current assets of $1,753,812, total liabilities of $801,540, common stock of

$1,020,000, and retained earnings of $132,260. The current ratio was 2.7.What is the total amount of noncurrent assets?a. $199,988b. $952,272c. $601,552d. $649,560
Business
1 answer:
Dima020 [189]3 years ago
3 0

Answer:

Option (a) is correct.

Explanation:

Total liabilities and shareholders equity:

= total liabilities + common stock + retained earnings

= $801,540 + $1,020,000 + $132,260

= $1,953,800

Current assets = $1,753,812

Non current assets:

= Total liabilities and shareholders equity - Current assets

= $1,953,800 - $1,753,812

= $199,988

Therefore, the total amount of non-current assets is $199,988.

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Dmitri lives in Houston and runs a business that sells guitars. In an average year, he receives $793,000 from selling guitars. O
sladkih [1.3K]

Answer:

Implicit costs are opportunity costs. They are the cost of the next best alternative that one could have taken from the one they took.

Explicit costs are normal accounting costs which represent the expenses involved in running a business.

a. The wages and utility bills that Charles pays. EXPLICIT COSTS.

These are normal accounting expenses so they are explicit costs.

b. The wholesale cost for the guitars that Charles pays the manufacturer. EXPLICIT COSTS.

Another cost of doing business so this is explicit as well.

c. The rental income Charles could receive if he chose to rent out his showroom. IMPLICIT COST.

By not renting out his showroom and using it instead, he is losing the rental income he could be making so this is an implicit cost.

d. The salary Charles could earn if he worked as a financial advisor. IMPLICIT COST.

Another income he could be making if he wasn't selling guitars. This make it an implicit cost.

5 0
2 years ago
Which of the following depicts the proper sequence of steps in the accounting cycle?
ycow [4]

Answer:

Option D. Prepare a trial balance, prepare adjusting entries, prepare financial statements

Explanation:

The accounting cycle sequence is given as under:

  1. Analyzing the business
  2. Journalize the Transactions
  3. Post to Ledger Accounts
  4. Prepare a Trial Balance
  5. Posting adjusting entries and Preparing an adjusted trial balance
  6. Preparing the financial statements
  7. Journalize and post closing entries
  8. Prepare a post closing trial balance and financial statement

So we can see that the three steps highlighted above are the sequence shown in the option D. Hence option D is correct.

5 0
3 years ago
The common stock of Dayton Repair sells for $43.19 a share. The stock is expected to pay $2.20 per share next year when the annu
mihalych1998 [28]

Answer: 7.35%

Explanation:

Based on the information given, the market rate of return on this stock will be calculated as:

= (D1/P0) +G

where,

D1= Dividend at year 1 = 2.20

P = price at present =43.19

G = dividend growth rate =2.25%

We then slot the figures into the formula and we will get:

= (D1/P0) +G

= (2.20 / 43.19) + 2.25%

= 0.051 + 2.25%

= 5.1% + 2.25%

= 7.35%

Therefore, the market rate of return will be 7.35%.

4 0
2 years ago
Refined Grains, Inc., agrees to sell to sunny cereal company a certain quantity of refined oats each week but no mention is made
lions [1.4K]

Answer:

sddasdhasjdasd

Explanation:

7 0
3 years ago
The welding department supplies parts to the final assembly line. Management decides to implement a kanban system and has collec
const2013 [10]

Answer:

25 containers

Explanation:

The computation of the number of kanban containers required is shown below:

= (Lead time demand + Safety stock) ÷ Container size

where,

Lead time demand is

= 2,000 units × 4 days

= 8,000 units

Container size = 400 units

Safety Stock is

= 1 day × 2,000 units

= 2,000 units

So, the number of kanban containers required is

= (8,000 units + 2,000 units) ÷ (400 units)

= 25 containers

We simply applied the above formula

6 0
3 years ago
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