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Sladkaya [172]
2 years ago
11

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and rec

eived 4,000 shares of stock. The store completed its first year of operations on December 31, 2017. On that date, the following financial items for the year were determined: cash on hand and in the bank, $47,500; amounts due from customers from sales of books, $26,900; equipment, $48,000; amounts owed to publishers for books purchased, $8,000; one-year notes payable to a local bank for $2,850. No dividends were declared or paid to the stockholders during the year.
Required:
1. Complete the following balance sheet at December 31, 2014.
READER DIRECT
Balance Sheet
At December 31, 2014
Assets Liabilities
Cash $37,500 Accounts Payable $7,700
Accounts Receivable 27,200 Note Payable 3,300
Equipment 41,000 Total Liabilities $11,000
Stockholders' Equity
Common Stock ??
Retained Earnings 10,700
Total Stockholders' Equity 10,700
Total Assets $105,700 Total Liabilities and Stockholders' Equity $21,700
2. Using the retained earnings equation and an opening balance of $0, compute the amount of net income for the year ended December 31, 2014.
(Net Income = Ending RE + Dividends - Beginning RE)
3. Assuming that Reader Direct generates net income of $4,500 and pays dividends of $2,300 in 2015, what would be the ending Retained Earnings balance at December 31, 2015?
(Ending RE = Beginning RE + Net Income - Dividends)
Business
1 answer:
Keith_Richards [23]2 years ago
8 0
English please

Reason: thats too freaking much .
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Aggregate supply is best described as the
VladimirAG [237]

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Total output of all products and services.

Explanation:

Aggregate supply is defined as the total amount of goods and services that firms are willing to sell, at a specific price, within a particular economy.

Aggregate supply is a macroeconomic concept, an aggregate variable, that is used in Keynesian and Neoclassical economics, often in models that put it together with aggregate demand, in what is known as the Aggregate Supply-Aggregate Demand model (AS-AD model).

5 0
3 years ago
Which one is the best choice. Please explain why. I’ll give extra points.
S_A_V [24]

Answer:

10

Explanation:

Surplus for Donovan: 10 - 4.50 = 5.50

Surplus for Rudy: 8 - 4.50 = 3.50

Surplus for Mike: 6 - 4.50 = 1.50

Surplus for Royce: 4 - 4.50 = -0.50

Sum of all surpluses: 5.50+3.50+1.50-0.50=10

7 0
2 years ago
The complete portfolio refers to the investment in _________.
____ [38]

Answer:

In finance speak, a portfolio refers to a collection of investments or financial assets held by an individual, investment company, financial institution or hedge fund. This grouping of financial assets can include everything from gold and property to stocks, bonds and cash equivalents.

Explanation:

Hope this helps :)

4 0
2 years ago
Problem 10A specialty coffeehouse sells Colombian coffee at a fairly steady rate of 280 pounds annually. The beans are purchased
SOVA2 [1]

Answer:

The computations are shown below:

Explanation:

a. The computation of the economic order quantity is shown below:

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

= \sqrt{\frac{2\times \text{280}\times \text{\$45}}{\text{\$0.48}}}

= 229 units

The carrying cost is come from

= $2.40 × 20%

b. Time between placement of orders is

= Economic order quantity ÷Annual demand

= 229 ÷ 280

= 0.8179 years

So,

= 0.8179 × 365 days

= 298.53 days

We assume 365 days in a year

c. The average annual cost of ordering cost and carrying cost equals to

= Holding cost + ordering cost

= (Economic order quantity ÷ 2 × Holding cost)  + (Annual demand ÷ Economic order quantity × ordering cost)

= (229 units ÷ 2 × $0.48) + (280 ÷ 229 units × $45)

= $54.96 + $55.02

= $109.98

d)   Now the reorder level is

= Demand × lead time + safety stock

where, Demand equal to

= Expected demand ÷ total number of weeks in a year

= 280 pounds ÷ 52 weeks

= 5.38461

So, the reorder point would be  

=  5.38461 × 3 + $0

= 16.15 pounds

7 0
3 years ago
Dakota Corporation decided to issue three-year bonds denominated in 5 million Russian rubles at par. The bonds have a coupon rat
sertanlavr [38]

Answer:

23.39%

Explanation:

From the given information, the amount was raised in rubies, Hence, we will convert them to dollars to be able to pay back the needed obligations.

However, according to the exchange rates, the IRR of dollar cash flow is the actual cost of financing that the company will address.

By applying the EXCEL FORMULA to compute the actual cost of financing, we get;

   A                    B                    C                    D                          E

Coupon              17%

Year                      0                    1                    2                         3

Cashflow in

rubles            5,000,000   5000000*17%  5000000*17%    5000000+850

                                           = 850000          = 850000         000

                                                                                                 = 5850000

Exchange          $0.30         $0.032                 $0.034              $0.035

rate

(per rubles)   5,000,000       5,000,000          5,000,000      5,000,000

Cash flow      × 0.03            × 0.032               × 0.034           × 0.035

in dollars    =  $150000.00  27200.00        28900.00           204750.00

IRR                   23.39%

8 0
3 years ago
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