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vitfil [10]
3 years ago
8

Chris's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the compa

ny earned $120,000 in net income and paid $15,000 in dividends. Total assets at the end of the year were $225,000. How much are total liabilities at the end of the year? $95,000 $105,000 $90,000 $110,000 $80,000
Business
1 answer:
Brilliant_brown [7]3 years ago
3 0

Answer:

How much are total liabilities at the end of the year?$80,000

Explanation:

                 Beg Balance      deb cre  End.Balance

Total assets              120000 105000         225000

Liabilities               80000                    80000

   

Equity                        40000                    40000

Earning                                       120000 120000

Dividens paid                          15000            -15000

Total equity             40000 15000 120000 145000

                                   0         120000 -120000 0

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Sheridan Company had the following transactions during the quarter end:
White raven [17]

Answer:

Payment of insurance premium include in last quarter = $204,000

Explanation:

Given:

Insurance premium during the year = $816,000

Number of quarter in the year = 4

Computation of payment include in last quarter:

Payment of insurance premium include in last quarter = Insurance premium during the year / Number of quarter in the year

Payment of insurance premium include in last quarter = $816,000 / 4

Payment of insurance premium include in last quarter = $204,000

8 0
3 years ago
The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The follo
Inessa05 [86]

Answer:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

Explanation:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

<u>Dividends  payable  a/c</u>

<u>Particulars           Amount                Particulars                    Amount</u>

                                                             Balance b/d                 $ 13,000

Dividend paid (Cash)  $ 54,500 Dividend declared            $57,000

Balance c/d               $ 15,500

                                     $ 70,000                                             $ 70,000

Therfore, The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

8 0
3 years ago
A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is refe
Artist 52 [7]

Answer: Corporate culture.

Explanation:

The Corporate culture of a company is the ideas, behavior and values that are shared among workers of that company and it is normally in line with the vision and mission statements of that company. The Corporate culture of an organization is what makes it stand out from other similar Organizations.

6 0
3 years ago
Two firms decide whether to launch a new product: (i) If both firms choose to launch a new product, then each firm will receive
lisabon 2012 [21]

Answer:

don't launch

Explanation:

Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.

Dominant strategy is the best option for a player regardless of what the other player is playing.

Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.

The payoff matrix for this question is

                                     Launch (in millions)               Don't Launch  (in millions)  

Launch (in millions)                  $40, $40                      $30, $45

Don't Launch (in millions)         $45, $30                      $50, $50

It can be seen that the best strategy for each firm is not to launch because the payoffs of not launching ($45, $50) is greater than the payoff  of launching ($40, $30)

4 0
2 years ago
What is a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain produ
Vlad [161]
The right answer for the question that is being asked and shown above is that: "a cooperative a nonprofit organization." a semi-independent business that pays fees to a parent company in return for the exclusive right to sell a certain product or service in a given area called <span>a cooperative a nonprofit organization</span>
5 0
3 years ago
Read 2 more answers
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