In order to remain certified, I have to:

The following selected information is from Princeton Company’s comparative balance sheets. At December 31 2017 2016 Common stock

lukranit [14]

Answer:

Princeton Company

The T-accounts are attached.

Explanation:

They can also be obtained as follows:

1. T-accounts to calculate the Cash received from the sale of its common stock during 2017:

Common Stock & APIC

Closing balance of common stock = $131,000

Closing balance of APIC = $593,000

less Opening balance of common stock = $126,000

less Opening balance of APIC = $355,000

Cash collected = $243,000

2. T-account to calculate the cash paid for dividends during 2017:

Retained Earnings:

Opening balance = $313,500

Add net income = $61,000

Less closing balance = $339,500

Cash Dividends paid = $35,000

Download xlsx

8 0

3 years ago

You purchase a $30, nonrefundable ticket to a play at a local theater. Ten minutes into the show you realize that it is not a ve

Murljashka [212]

Answer:

1) You should go home and watch TV.

Explanation:

Since you value seeing the play $10, then you should leave the theater and go to your house to watch TV since that has a higher value for you ($12).

We are talking about opportunity costs here. Opportunity costs are the extra costs or benefits lost from choosing one activity or investment over another. In this case the opportunity costs are:

watch the play = $10
watch TV = $12
read a book = $8

Since watching TV is more valuable to you, then that is what you should be doing.

3 0

3 years ago

A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the

Licemer1 [7]

Answer: B. The firm would install the filter at a cost of $ 300,000.

Explanation:

If the community owns the property rights, they would be able to demand that the firm pay the external cost of $500,000 per year.

If on the other hand the company installed a filter, it would cost them $300,000 but then they would not have to pay the community the $500,000.

The lower cost option would be to install the filter for $300,000 which is what the firm would do.

6 0

3 years ago

An investment counselor calls with a hot stock tip. He believes that if the economy remains strong, the investment will result

liubo4ka [24]

Answer:

$6,000

Explanation:

The computation of the expected profit from this investment is shown below:

= Strong profit × Strong percentage + Moderate profit × moderate percentage - recession losses × recession percentage

= $60,000 × 20% + $10,000 × 60% - $60,000 × 20%

= $12,000 + $6,000 - $12,000

= $6,000

By adding the three situations we can get the expected profit from this investment

3 0

3 years ago

Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _______ function.

AleksAgata [21]

Answer:

Budgeting, analysis of investment proposals, and provision of funds are activities associated with the finance function.

Explanation:

The finance function manages a business' finance and helps with the decision-making. This allows businesses to manage in the modern world.

3 0

2 years ago