All categories

3 years ago

The following information is available for Amos Company for the year ended December 31, 2017.

Business

1 answer:

kherson [118]3 years ago

3 0

Answer:

$1,402,500

Explanation:

AMOS COMPANY Statement of Retained EarningsFor Year Ended December 31, 2017

Retained earnings, December 31, 2016 $1,375,000

Prior period adjustment:

Depreciation expense error in 2015 (55,500)

Adjusted retained earnings, December 31, 2016 $1,319,500

($1,375,000-55,500)

Add: Net income 126,000

Less:Cash Dividends(43,000)

Retained earnings, December 31, 2017 $1,402,500

You might be interested in

Suppose United and American both service the New York-Boston route. If they both charge $100 each way, they each get monthly pro

allochka39001 [22]

Answer:

Nash equilibrium exists when both companies charge $100 per ticket and each makes $81,000 in profits.

Explanation:

United

ticket price $100 ticket price $200

$81,000 / $58,000 /

ticket price $100 $81,000 $123,000

American

$123,000 / $112,000 /

ticket price $200 $58,000 $112,000

United's dominant strategy is to charge $100 per ticket price with expected profits of $81,000 + $123,000 = $204,000. If it charges $200 per ticket, expected profits = $170,000.

American's dominant strategy is to charge $100 per ticket price with expected profits of $81,000 + $123,000 = $204,000. If it charges $200 per ticket, expected profits = $170,000.

Since both companies' dominant strategy is to charge $100 per ticket, then that is the Nash equilibrium.

8 0

3 years ago

What will happen in the gasoline market now if buyers expect higher gasoline prices in the near future?

Lerok [7]

D.) i had it right on my test

8 0

3 years ago

Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following d

Marina CMI [18]

Explanation:

a. Current assets = $600000

Current ratio = 3

Current ratio = Current assets ÷Current liabilities = 3

⇒Current assets = 3 Current liabilities

Given that

Quick ratio = 2.25

Also we know that

Quick assets = Quick assets / Current liabilities = 2.25

therefore, Quick assets = 2.25 Current liabilities

Also, Quick assets = Current assets - Inventory

then,

2.25 current liabilities = 3 Current liabilities - $150000

⇒$150000 = 0.75 Current liabilities

Hence, Current liabilities = $200000

Current assets = 3 Current liabilities

= 3 × $200000

= $600000.

b. Calculating for Shareholders equity we get

Shareholders equity = $560000

We know that ,

Total debt + Total equity = Total assets

Debt to equity ratio = 1.5

Also, Total debt / Shareholders equity = 1.5

Debt = 1.5 Shareholders equity

1.5 Shareholders equity + 1 Equity = $1400000

2.5 Shareholders equity = $1400000

Shareholders equity = $560000.

Now calculating for Non current assests

c. Non Current assets = $800000

Total assets = Current assets + Non current assets

$1400000 = $600000 + Non current assets

Non current assets = $800000.

d. Long term liabilities = $640000.

Total assets = Total liabilities + Shareholders equity

$1400000 = Current liabilities + Long term liabilities + Shareholders equity

$1400000 = $200000 + Long term liabilities + $560000

Long term liabilities = $640000.

7 0

3 years ago

If you value security, you are more likely to: 1) A) Make Impulse buys B) Spend money C) Save money D) All of the above

Mashutka [201]

Answer:

C) Save money

Explanation:

If you value security then you would be more concerned and charged to save money.

Money provides security. One would have enough money to live on and this reduces worries. It is being stable and also having enough money that one can use to take care of certain emergencies and future financial plans.

Through this one would not have to break the bank during the case of an emergency.

8 0

3 years ago

Suppose the price is $10, the quantity supplied is 50 units, and the quantity demanded is 100 units. For every $1 rise in price,

aleksley [76]

Answer:

500

Explanation:

5 x 100

8 0

3 years ago