1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yKpoI14uk [10]
2 years ago
7

On January 1, Kirk Corporation had total assets of $860,000. During the month, the following activities occurred: -. Kirk Corpor

ation acquired equipment costing $7,000, promising to pay cash for it in 60 days. -. Kirk Corporation purchased $3,600 of supplies for cash. -. Kirk Corporation sold land which it had acquired 2 years ago. The land had cost $16,000 and it was sold for $16,000 cash. -. Kirk Corporation signed an agreement to rent additional storage space next month at a charge of $1,100 per month. What is the amount of total assets of Kirk Corporation at the end of the month?
Business
1 answer:
posledela2 years ago
7 0

Answer:

$867,000

Explanation:

Assets are economic resources controlled by the entity as a result of past events from which cash is expected to flow into the business.

The Amount of Total Assets Available is calculated as follows:

Beginning Balance                                $860,000

Equipment Acquired                                  $7,000

Supplies Inventory                                     $3,600

Cash payment for Supplies                      ($3,600)

Cost of Land sold                                     ($16,000)

Cash Proceeds from the sale of land      $16,000

Total Assets                                            $867,000

You might be interested in
Consider the following two situations: (1) you buy a Porsche produced in Germany, (2) you buy a Volkswagen produced in the U.S.
kondor19780726 [428]

The purchase of a Porsche produced in Germany has a direct effect on net exports

<h3>What is net export?</h3>

Net exports is total export less import. Import is when a good or service is brought into a country from a foreign country. Import reduces the value of the net exports. Export is when a good produced in a country is sold in a foreign country.

To learn more about imports, please check: brainly.com/question/26497713

7 0
1 year ago
An advantage of the _____ costing method is that the cost of goods sold approximates its current cost.
Komok [63]

Answer:

weighted average

Explanation:

An advantage of the weighted average costing method is that the cost of goods sold approximates its current cost. This is mainly due to the fact that the cost of each unit is made equal to the same cost of all units that are currently available for sale during that extended period of business. Therefore approximating its total current cost.

8 0
2 years ago
The following is a December 31, 2021, post-closing trial balance for the Jackson Corporation.
tia_tia [17]

Answer:

Explanation:

See below

5 0
3 years ago
Simon has net investment income of $38,000 and MAGI of $223,000 and files as a single taxpayer. Simon's additional Medicare tax
Sergeeva-Olga [200]

Answer:

$874

Explanation:

Calculation for Simon's additional Medicare tax

Based on the information given we were told Simon has a MAGI of the amount of $223,000 in which part of it is for wages income of the amount of $185,000 ($223,000 -$38,000)

while the amount of $38,000 is the net investment income which means that Samson MAGI is below the threshold limit of the amount of $200,000, therefore tax rate of 3.8% tax will be applied.

Now let calculate the additional Medicare tax

Additional Medicare tax = ($38,000-$15,000)*3.8%

Additional Medicare tax =$23,000*3.8%

Additional Medicare tax = $874

Therefore Simon's additional Medicare tax is:874

5 0
2 years ago
What are three important skills for teamwork and collaboration?
Gelneren [198K]
1. Communication
2. Loyalty
3. Honesty
7 0
3 years ago
Other questions:
  • Cottage Co. deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close o
    11·1 answer
  • What are some consideration that must taken into account to evaluating economics model
    7·1 answer
  • Although you may not have received the e-mail we have been informed that the division head of the Finance Department is leaving
    8·1 answer
  • Chester's turnover rate for this year is 6.29%. This rate is projected to remain the same next year and no further downsizing wi
    6·1 answer
  • Bell Computers purchases integrated chips at ​$350 per chip. The holding cost is ​$35 per unit per​ year, the ordering cos
    5·1 answer
  • The Google My Business messaging tool allows customers to reach business owners through what type of communication?
    9·1 answer
  • During December, Mainzel Interior Design Corporation redecorated the reception areas of a local hotel. The project was completed
    10·1 answer
  • 1- On November 2, Z-Mart purchased $500 of merchandise inventory for cash
    8·1 answer
  • Explain the effect of a lack of shortage of entrepreneurs in the economy ​
    8·1 answer
  • A farmer and an investor negotiate a Futures Contract where Tomatoes will be sold
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!