What refers to the amount of a product offered for sale at all possible prices in a market

On January 1, 2012, Gucci Brothers Inc. started the year with a $492,000 balance in Retained Earnings and a $605,000 balance in

dsp73

Answer:

option (C) $1,201,300

Explanation:

Data provided in the question:

Balance in retained earnings = $492,000

Balance in Common Stock = $605,000

Net income earned = $92,000

Dividend paid = $15,200

Common stocks issued = $27,500

Now,

Common Stock

= Balance in Common Stock + Common stocks issued

= $605,000 + $27,500

= $632,500

Retained Earnings

= Balance in retained earnings + Net income earned - Dividend paid

= $492,000 + $92,000 - $15,200

= $568,800

Total Stock Holders Equity on Dec 31,2012

= Common Stock + Retained Earnings

= $632,500 + $568,800

= $1,201,300

Hence,

The answer is option (C) $1,201,300

4 0

3 years ago

Read the following stock quote. Did the stock price increase or decrease?

Nata [24]

Increased

It’s a positive number

8 0

3 years ago

Read 2 more answers

On April 1, Garcia Publishing Company received $32,580 from Otisco, Inc. for 36-month subscriptions to several different magazin

Oksi-84 [34.3K]

Answer: Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

Explanation:

The $32,580 are for 36 months so the amount per month would need to be calculated.

= 32,580/36

= $905

The subscriptions were paid on the 1st of April which means that only 9 months (April to December) of the first year will have revenue recognized for them.

= 905 * 9

= $8,145

Correct entry would be to debit the Unearned fees account as it is a liability that needs to reduce to reflect that fees have now been recognized.

Credit the Fees Earned account to recognize revenue.

Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

4 0

3 years ago

On January 1, 2020, Bonita Company purchased 12% bonds, having a maturity value of $320,000 for $344,260.74. The bonds provide t

Delvig [45]

Answer:

Following are the responses to the given points:

Explanation:

For point a:

Criteria I

Date: 1-1.2020 Debt Investments $\$3,44,260.74$

cash $\$3,44,260.74$

For point b:

Criteria II

Date: 31.12.2020 Interest Account receivable to pay $\$38,400.00 \ \ \ \ \ \ \ \ \ \ 320000\times 12\%$

Debt Investments $\$3973.93$

rate of Revenue $\$34,426.07(\$344,261.74 \times 0.10)$

31.12-2020 Fair Value Adjustment $1713.19$

Gain or loss - equity unrealized holding $1713.19$

for point c:

Criteria III

31.12-2021 Interest Account receivable to pay $\$38,400$

Debt Investments $\$4,371$

rate of Revenue $\$34,029$

31.12-2021 Gain or loss - equity unrealized holding $\$7,927.69$

Fair Value Adjustment $\$7,927.69$

$329700-335914.50=6214.50+1713.19 =7,927.69$

Please find the attached table.

8 0

3 years ago

The amount of accounts receivable that is actually expected to be collected is known as the:a.uncollectible accounts expense. b.

scoundrel [369]

Answer:

Net realizable value.....Option C

3 0

3 years ago