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3 years ago

The revenues and expenses of Zenith Travel Service for the year ended August 31, 20Y4, follow:

Business

1 answer:

Alisiya [41]3 years ago

8 0

Answer:

Zenith Travel Service

Statement of Owner's Equity for the year ended August 31, 20Y4:

Capital as of September 1, 20Y3 = $456,000

Additional investment 43,200

Retained Earnings (8,400)

Drawings (21,600)

Capital as of August 31, 20Y4 $469,200

Explanation:

a) Data and Calculations:

Additional investment = $43,200

Personal withdrawal = $21,600

Income Statement for the year ended August 31, 20Y4:

Fees earned $899,600

Office expense 353,800

Miscellaneous expense 14,400

Wages expense 539,800 908,000

Net income/Retained earnings ($8,400)

b) Zenith's statement of owner's equity is a financial statement that reports the changes in the equity section of Zenith's balance sheet during the year ended August 31, 20Y4. In other words, it reports the events that increased or decreased Megan Cox's equity over the course of the year from September 1, 20Y3 to August 31, 20Y4.

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TEA [102]

Answer: Four pies.

Explanation:

Marginal cost is the additional cost of producing one extra unit of a good or service.

From this graph we see the marginal cost rise when the first pie is produced and then it subsequently decreases as the second and third pie is produced which is where it reaches its lowest point.

From the fourth pie, the marginal cost begins to rise again which means the marginal cost begins to increase when the producer makes four pies.

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3 years ago

Which of the following is an example of an employee contribution retirement plan

tekilochka [14]

Answer:

401 retairement plan

Explanation:

A 401(k) is a retirement plan based on savings with the contribution of the employer. The contribution made by the employer and portion of the wage that is saved is collected before taxes.

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3 years ago

preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp

Rama09 [41]

Answer:

Requirement: Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7

Date Accounts title and Explanation Debit Credit

31-Dec Salaries expense $1,880

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(To record accrued salaries )

31-Dec Retained Earnings $250,000

Salaries Expense $250000

(To close salaries expense account)

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(To record payment of salary)

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3 years ago

Two general contractor firms, Atlantic Builders and North West Mechanical, form a joint venture for the purposes of completing a

gregori [183]

Answer:

(d) Atlantic Builders and North West Mechanical are both liable.

Explanation: Because the incident happened at working site and both companies are on a joint venture, they are both liable to the damage regardless of which company does the employee belong to.

Answer:

(d) Against the shareholders, if it finds that Clean Earth has acted in a "responsible and sustainable manner."

Answer:

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3 years ago

The Harrison Company is closely held and, therefore, cannot generate reliable inputs with which to use the CAPM method for estim

Artyom0805 [142]

Answer:

the formula used to calculate the cost of equity (required rate of return) based on the bond yield plus risk premium is fairly simple:

cost of equity (Re) = yield of debt (bonds) + firm's risk premium = 11.52% + 3.55% = 15.07%

I'm not sure if the question was copied correctly or not, so I looked for similar questions and it included different numbers.

The Harrison Company is closely held and, therefore, cannot generate reliable inputs with which to use the CAPM method for estimating a company's cost of internal equity. Harrison's bonds yield 10.28%, and the firm's analysts estimate that the firm's risk premium on its stock over its bonds is 4.95%. Based on the bond-yield-plus-risk-premium approach, Harrison's cost of Internal equity is: = 10.28% + 4.95% = 15.23%

Another question:

The Kennedy Company is closely held and, therefore, cannot generate reliable inputs with which to use the CAPM method for estimating a company's cost of internal equity. Kennedy's bonds yield 11.52%, and the firm's analysts estimate that the firm's risk premium on its stock over its bonds is 4.95%. Based on the bond-yield-plus-risk-premium approach, Kennedy's cost of internal equity is: = 11.52% + 4.95% = 16.47%

5 0

3 years ago