Given:
Total cash = $160,000
Notes payable = $86,000
Common stock = $52,800
Find:
Retained earnings as on December 31, 2018
Computation for retained earning:
According to Accounting Equation:
Assets = Liabilities + Stock holder equity
Total Cash = Notes payable + Common stock + Retained earning
$160,000 = $86,000 + $52,800 + Retained earning
$160,000 = $138,800 + Retained earning
Retained earning = $160,000 - $138,800
Retained earning = $21,200
Answer:
$1,000 and $30
Explanation:
We assume the market price or face value be $1,000
And the given coupon rate is 6% which is paid on semi annually basis
So, the interest payment is
= Market price or face value × coupon rate ÷ 2
= $1,000 × 6% ÷ 2
= $30
In the semi annual basis, the rate is half and the time is doubles and the same is applied above
Briar Co. disposed of a $6,000 piece of equipment on December 31 with $4,500 in accrued depreciation as of that date. Then $1,500 will be debited from the Loss on Equipment Disposal account.
<h3>What is loss on Equipment Disposal account?</h3>
Gain/Loss on Asset Disposal is a common account name of the Equipment Disposal account.
The net difference between the initial asset cost and any cumulative depreciation (if any) is debited to the disposal account, while the balances in the fixed asset account and the accumulated depreciation are reversed.
On December 31, the debited amount is calculated as:
Therefore, $1,500 will be the amount of loss on disposal of the Equipment.
Learn more about the depreciation, refer to:
brainly.com/question/14682335
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Answer: $204,800
Explanation:
When a good is shipped FOB shipping point, it means that the buyer assumes responsibility for the goods as soon as the goods reach the place they will be shipped from. The purchase from Pelzer should therefore be included in inventory because it has already been shipped.
A good shipped FOB Destination means that the buyer only assumes responsibility after the goods have been delivered to them. As the sale to Alvarez was still in transit, it is still the responsibility of Marigold and should be included in inventory.
Inventory is therefore:
= 155,000 + 28,000 + 21,800
= $204,800
Answer: Option (a) is correct.
Explanation:
Cheizza, a pizza vendor knows that the fresh cheese is the unique selling point for him. And because of this fresh cheese, the demand for his pizza is drastically increases. So, for meeting this demand, he have to purchase more cheese.
We know that cheese is made up from milk and milk is used as an input for the production of cheese. But milk is a raw material and limited in quantity to meet this demand.
Cheizza also knows that cheese is used in the pizzas, hence, if there is any changes in the supply of cheese, as a result it directly affects the demand for pizzas.
Therefore, there is a scarcity of resources in the form of milk.
