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liraira [26]
3 years ago
15

How do you prepare a balance sheet

Business
2 answers:
Romashka [77]3 years ago
5 0

Answer:

1.

Determine the reporting Date and period. 2. Identify your assets. 3. Identify your liabilities.

4. Calculate shareholders' equity.

Add total liabilities to total shareholders' equity and compare to the assets.

Scilla [17]3 years ago
4 0
Determine the Reporting Date and Period. ...
Identify Your Assets. ...
Identify Your Liabilities. ...
Calculate Shareholders' Equity. ...
Add Total Liabilities to Total Shareholders' Equity and Compare to Assets.
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Yvonne and Simon form Ion Corporation. Yvonne transfers equipment (basis of $110,000 and fair market value of $165,000). Simon i
Allushta [10]

Answer:

$145,000;$110,000;$130,000

Explanation:

Based on the information given the Corporation has a basis of the amount of $145,000 in the equipment calculated as ( Basis of the amount of $110,000+ Cash Received of the amount of $35,000) . Secondly Yvonne has a basis of the amount of $110,000 for her stock which is calculated as (basis in equipment of the amount of $110,000- Boot received of the amount of $35,000+ the lesser of the amount realized as gain which is $35,000) and lastly Simon has a basis of the amount of $130,000 for his stock which represent the cash Contributed by Simon.

4 0
3 years ago
The exchange of a good or service is
Mademuasel [1]
Marketing processes the quesion is not complite
4 0
3 years ago
Green Company purchases a truck for $30,000 on the first day of the year. Green Company uses straight-line depreciation and esti
SpyIntel [72]

Answer:

$5,000

Explanation:

The depreciation by Green Company in respect of truck for the first year of operations shall be calculated using the following mentioned formula;

Depreciation for the year=  (Cost of asset-Residual value)/useful life

Cost of asset=$30,000

Residual value=$5,000

useful life=5

Depreciation for the year=($30,000-$5,000)/5=$5,000

6 0
3 years ago
During 2014, carlita's competitor farside had double the sales of carlita, but it also earned a gross margin of $30,000. what wa
Olegator [25]

The gross margin percentage is 12.5%.

Gross income is revenue much less the charges of products bought. Gross profit and gross margin are on occasion used interchangeably. in the meantime, gross margin and gross profit margin also are used interchangeably, Gross profit margin takes the gross income (sales much less value of goods bought) and divides it via sales.

Gross margin is revenue minus the price of goods bought (COGS). Gross margin is now and again used to refer to gross income margin, that's revenue minus price of goods bought (or gross income) divided by means of revenue.

Gross margin equates to internet sales minus the fee of products offered. The gross margin indicates the amount of profit made earlier than deducting promoting, standard, and administrative (SG&A) fees. Gross margin can also be called gross profit margin, that's gross profit divided via net sales.

Farside's sales = (Sales of Carlita * 2) = $120,000*2 = $240,000.

Farside's gross margin percentage

= (Gross margin / Sales) * 100

= ($30,000 / $240,000) * 100

= 12.5%

Learn more about gross margin here: brainly.com/question/8189926

#SPJ4

6 0
2 years ago
AE Corp. completed the following transactions during Year 1: Issued 3,000 shares of $10 par common stock for $25 per share. Repu
AleksandrR [38]

Answer:

4,700 shares

Explanation:

The computation of the number of shares of common stock outstanding at the end of the period is shown below

= Beginning shares + issued shares  - repurchase shares + reissue shares

= 2,000 shares + 3,000 shares - 500 shares + 200 shares

= 4,700 shares

We applied the above equation to find out the number of shares outstanding at the end of the year

6 0
3 years ago
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