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3 years ago

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:

Business

1 answer:

Gnoma [55]3 years ago

4 0

Answer and Explanation:

The calculations are given below:

1. Total current assets

we know that

Current ratio = Current assets ÷ current liabilities

where,

Current liabilities is

= Accounts payable + Accrued interest + Salaries payable

= $47,000 + $1,000 + $19,000

= $67,000

And,

Current ratio = 1.6:1

So,

Total current assets is

= 1.6 × $67,000

= $107,200

b. Short term investment is

Short term investment = Total current assets - Cash and cash equivalents - Accounts receivables - Inventories

= $107,200 - ($5,800 + $28,000 + $68,000)

= $5,400

c. Now retained earning is

Total assets

= Total current assets + Property, plant and equipment

= $107,200 + $160,000

= $267,200

Total liabilities is

= Current liabilities + Notes payable

= $67,000 + $38,000

= $105,000

Now Retained earnings is

= Total assets - Total liabilities - Paid in capital

= $267,200 - $105,000 - $140,000

= $22,200

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Vesna [10]

Answer:

$280,950

Explanation:

As for the information given:

Closing balance of investment on 31 December 2015 = $440,000

Now the following adjustments need to be made to calculate the balance as on 1 August 2016

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Less: Dividend Received = $20,000 $\times$ 20% = $4,000

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Since Jabiru sold half of its investment, thus, value of its half of the investment shall be:

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3 years ago

A buyer made an earnest money offer to purchase property, and the broker placed the funds in his trust account. After the seller

Alex17521 [72]

Answer: Interpleader

Explanation:

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The Broker does not own the deposit but seeing as he did not want to get into trouble with either the Seller or the Buyer, he put the deposit with the courts so that they would decide who owns the deposit.

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3 years ago

Video news releases are ______. Group of answer choices None of the above options is correct produced by PR agencies and compani

VLD [36.1K]

Answer:

produced by PR agencies and companies for use in TV newscasts.

Explanation:

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3 years ago

Gross Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2013. Its inventory at that date w

Murrr4er [49]

Answer: $603,500

Explanation:

Ending inventory in 2014;

= Ending inventory balance 2013 + (( $\frac{Inventory current price 2014}{Price index 2014}$ * 100) - ending inventory 2013)) * Price index 2014/100

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3 years ago

Erie company has 500 units of capacity for their traditional product, Emu, and buys one point of automation. If Erie company’s c

11111nata11111 [884]

Answer: 2 years

Explanation:

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In the above question, the payback period is solved as follows:

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Therefore,

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= $10 × 0.1

= $1 per unit.

In order to recover $2000, the business needs to sell the following;

= 2000/1

= 2000units.

If Eric sells 1000 units per year of Emu, it will take:

2000/1000= 2years

In conclusion, the payback period of the investment is 2 years.

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