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3 years ago

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A firm has $800 in inventory, $1,400 in fixed assets, $500 in accounts receivables, $100 in net working capital, and $50 in cash

. What is the amount of the current liabilities

1 answer:

Alex777 [14]3 years ago

3 0

Answer:

Add it all Together?

Explanation:

2850?

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Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry

AysviL [449]

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

(1). Jun.30 Bad Debt expense A/c Dr $12,800

To Allowance for Doubtful A/c $12,800

(Being the bad debt expense is recorded)

(2). July Allowance for Doubtful A/c Dr $6,400

To Accounts Receivable A/c $6,400

(Being the customer balance written off is recorded)

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3 years ago

Jeanie acquires an apartment building in 2008 for $280,000 and sells it for $480,000 in 2019. At the time of sale there is $60,0

Evgen [1.6K]

Answer:

$60,000

Explanation:

According to section 1250 of the Internal Revenue Service, the depreciation previously allowed as a deduction would now be taxed in the case of ordinary income at the highest tax level.

And, For this, the asset should be depreciated real property.

In the question, there is depreciation charged for apartment building so the same is eligible

The eligibility is allowed up to $60,000 and the same is to be considered

8 0

3 years ago

Monumental, Inc. contracts with Champion Builders to erect a three-story office building on a parcel of land it has purchased. B

Elza [17]

Answer:

A) True

Explanation:

Monumental can discharge the contract by frustration. In order for a contract to be discharged by frustration, four conditions have to occur:

An unforeseeable event must occur: In this case the zoning changes were unforeseeable.
No party is at fault: the zoning board made the changes to the zoning of the land.
Performance is impossible: there is no reason why an office building should be built in a residential only area.
The result is radically different than expected: neither Monumental or Champion Builders expected a zoning change to occur.

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3 years ago

Which of the following fraudulent activities most likely could be perpetrated due to the lack of effective internal controls in

Alex17521 [72]

Answer:

C. The write-off of receivables by personnel who receive cash permits the misappropriation of cash.

8 0

3 years ago

Perine, Inc., has balance sheet equity of $5.4 million. At the same time, the income statement shows net income of $783,000. The

S_A_V [24]

Answer:

The target stock price in one year is $149.93

Explanation:

Fly Away, Inc., has

Balance sheet equity of (E) = $ 5,400,000

Also, the income statement shows net income of (NI) = $783,000.

The company paid dividends of (D) = $438,480

Shares of stock outstanding (N) = 100,000

Benchmark PE ratio = 18

Question = what is the target stock price in one year?

We need the expected EPS at the end of next year and not this year.

EPS this year, E₀ = NI / N

= 783,000 / 100,000

= $ 7.83

Retention Ratio, "R" = 1 - Dividend payout ratio = 1 - D/NI

= 1 - 438,480 / 783,000

= 1 - 56.00%

= 44.00%

Return on equity, ROE = NI / E

= 783,000 / 5,400,000

= 14.50%

Growth rate in earnings, g = R x ROE

= 44.00% x 14.50%

= 6.38%

Hence, expected EPS next year, E₁ = E₀ x (1 + g)

= $ 7.83 x (1 + 6.38%)

= $ 8.33

Hence, target price next year, P = Benchmark PE ratio x E₁

= 18 x $8.33

= $149.93

The target stock price in one year = $149.93

4 0

3 years ago