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sveticcg [70]
3 years ago
11

During 2022, Crane Company entered into the following transactions.

Business
1 answer:
Anastasy [175]3 years ago
4 0

Answer:

Assets = Liabilities + Stockholders' Equity = $206,670

Explanation:

Note: See the attached excel file for the analysis of the tabular analysis of the effect of each transaction on the accounting equation.

From the attached excel file, we have:

Assets = = – $172,670 + 68,620 + $310,720 = $206,670

Liabilities = $68,620

Stockholders' Equity =  $138,050

Liabilities + Stockholders' Equity = $68,620 + $138,050 = $206,670

Therefore, we have:

Assets = Liabilities + Stockholders' Equity = $206,670

Download xlsx
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Why do overhead costs often shift from high-volume products to low-volume products when a company switches from a conventional c
sashaice [31]

Answer:

When a company is using conventional costing methods, the costs are allocated based on volume so those products with a high volume will get a higher share of the costs.

When Activity-based costing is used however, costs are assigned more accurately which will lead to the actual products that are causing the costs incurring them instead of those high-volume products so it will appear as though overhead costs have shifted from high-volume products to low-volume products.

3 0
2 years ago
Assume that the banking system has total reserves of $100 billion. Assume also that required reserves are 10 percent of checking
MrRissso [65]
The money multiplier is the amount of money that is generated from the reserves of a bank:
$100/0.10 - $100 = $900 billion
The money supply is
$100/0.10 = $1000 billion of $1 trillion
If the reserves is changed to 20%, the money multiplier and money supply will decrease
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2 years ago
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What is a credit limit?
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Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card.

Hope this helps 
5 0
2 years ago
1. An engineer in 1950 was earning $6,000 a year. Today she earns $60,000 a year. However, on average goods today cost 6.6 times
vivado [14]

The engineer's real income today in terms of constant 1950 dollars is $14,400.

<h3>What is the real income?</h3>

Real income ls nominal income less inflation rate. Inflation rate is when there is a persistent rise in the general price levels of a country.

Real income = nominal income - inflation

Inflation = (1 + 6.6) x $6000 = $45,600

Real income = $60,000 - $45,600 = $14,400

To learn more about real income, please check: brainly.com/question/6616964

7 0
2 years ago
Garcel, Inc. held unfinished inventory at a cost of $85,000 with a sales value of $125,000. The inventory will cost $10,500 to c
fiasKO [112]

Answer:

Explanation:

The following information can be gotten from the question:

Net realizable value (NRV) will be:

= $125,000 - $10,500

= $114,500

Normal profit will be:

= $114,500 - (30% × $125,000)

= $114,500 - $37,500

= $77,000

The amount should Garcel report as inventory on its balance sheet should be $77,000.

6 0
2 years ago
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