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Leya [2.2K]
3 years ago
10

Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,

and dividends of $5,000 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.
Business
1 answer:
Vaselesa [24]3 years ago
6 0

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

           = $78,000 - $42,000

           = $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

                                       = $36,000 + $15,500 - $5,000

                                       = $46,500

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Ivy orally agrees to buy a unique collection of sports memorabilia for $10,000 from Jess and sends $2,500 as an initial payment.
kow [346]

Answer:

D. specific performance.

Explanation:

Specific performance -

It is the act or the order by the court , in order to solve an any conflict for the law of contract .

This is basically used to solve any issue related to land , property or any goods or services , this practice is used in case of any personal service .

It helps the people to against any form of injustice or malpractice .

It is a form of forced action , which helps with some previous transaction , and is one of the best remedy for the problem .

6 0
3 years ago
Suppose there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For I
4vir4ik [10]

Answer:

Lowa should produce corn; Nebraska should produce Wheat

Explanation:

Two states: Iowa and Nebraska

Same two goods are produced by both of them: Corn and wheat

For lowa,

Opportunity cost of producing wheat = 3 bushels of corn

Opportunity cost of producing corn = (1 ÷ 3) bushels of wheat

For Nebraska,

Opportunity cost of producing wheat = (1 ÷ 3) bushels of corn

Opportunity cost of producing corn = 3 bushels of wheat

According to the concept of comparative advantage, a country is exporting the commodity in which it has a comparative advantage and a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity is lower than the other country.

In our case, lowa should producing and exporting corn because the opportunity cost of producing corn is lower than the Nebraska and on the other hand, Nebraska should producing and exporting wheat because the opportunity cost of producing wheat is lower than the lowa.

7 0
3 years ago
Which of the following materials could be potentially infected with bloodborne pathogens, assuming they are not mixed with human
Katena32 [7]

Answer:

Semen or vaginal secretions

Explanation:

"Bloodborne pathogens" refer to microorganisms that can be found in the blood or body fluids of humans. There are many kinds of bloodborne diseases such as <em>Hepatitis B</em> and<em> Hepatitis C</em> as well as <em>Human Immunodeficiency Virus (HIV).</em> They can be transmitted to another person through <em>having contact with the infected human blood or body fluids.</em>

Assuming that the materials above are not mixed with human blood (meaning, they are not contaminated with blood), then the semen or vaginal secretions are the only materials where the bloodborne pathogens can be transmitted. Thus, it is important <u>not to have sexual contact with the contaminated person such as people with HIV.</u>

So, this explains the answer.

4 0
3 years ago
Jurisdiction M imposes an individual income tax based on the following schedule.
labwork [276]

Answer:

D) Both A. and B. are true.

  • A) The schedule provides no information as to whether Jurisdiction M's tax is horizontally equitable.
  • B) Jurisdiction M's tax is vertically equitable.

Explanation:

When we are talking about horizontal equity of a tax, we are talking about how the tax base is measured and the ability that taxpayers have to pay the tax. There is nothing here about tax base or taxpayers' ability to pay.

On the other hand, vertical equity deals with the tax rate structure. In this case, the tax rate is progressive, meaning that it increases as the taxpayers' income increases. Progressive taxes are vertically equitable.

8 0
3 years ago
Suppose your company needs to raise $68 million and you want to issue 20-year bonds for this purpose. Assume the required return
e-lub [12.9K]

Answer:

you would need 68000 of the coupon bonds to issue to raise the $68 million.

Explanation:

price of the coupon bond = $1000

number of coupon bond = $68 million/1000

                                          = 68000

Therefore, you would need 68000 of the coupon bonds to issue to raise the $68 million.

6 0
3 years ago
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