For Accounting, I need help knowing how to journalize the following transaction:

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

lys-0071 [83]

Answer:

2021 Balance Sheet

$5,900 Cash

$29,000 Accounts Receivable

$6,500 short-term investments

$69,000 Inventory

$110,400 TOTAL CURRENT ASSETS

$ 165,000 Property, plant, and equipment (net)

$165,000 TOTAL NON CURRENT ASSETS

$275,400 TOTAL ASSETS

$48,000 Accounts Payable

$1,000 Interest Payable

$20,000 Salaries Payable

$69,000 TOTAL CURRENT LIABILITIES

$39,000 Long Term Notes Payable

$39,000 TOTAL NON CURRENT LIABILITIES

$108,000 TOTAL LIABILITIES

$145,000 Paid in Capital

$22,400 Retained Earnings

$167,400 TOTAL EQUITY

$275,400 TOTAL EQUITY + LIABILITIES

Explanation:

To complete the Total Current Assets is necessary to find the Short Term Investments, which is possible to know because the current ratio must be 1,6.

With this information it's possible to know that the total current Asssets are $110,400, and the Short Term Investments are $6,500.

To complete the Balance Sheet we need to know the total Retained Earnings that equilibrate the Accounting equation, that is $22,400.

4 0

4 years ago

"In order to recommend a variable annuity to a customer, the representative should have a reasonable basis to believe that the c

Mrrafil [7]

Answer:

D. I, II, III

Explanation:

For suggesting a variable annuity to a customer, the representative has the reasonable basis to trust the customer that gained from growth of the deferred tax for the separate account, the trust of receiving the income for life and the living or death benefit allowed in the contract

So here they all three give conditions should be considered as they are relevant

3 0

3 years ago

Suppose bundle A contains 5 CDs and 5 DVDs and bundle B contains 2 CDs and 6 DVDs. If a consumer is able to rank different combi

Liono4ka [1.6K]

Answer:

E) a, b, and c are possible.

Explanation:

Consumer has different interests, thus they may prefer either Bundle A with same volume of CD or DVDs or bundle B with more DVDs or even neither of any.

8 0

3 years ago

What is a credit limit?

Sati [7]

A credit limit<span> is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline).</span>

7 0

3 years ago

Read 2 more answers

Which of the following statements is normative rather than positive?

torisob [31]

Answer:

D) Income inequality should be minimized in a developed society.

Explanation:

Normative statements express value-based judgement on how a situation should be . In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised.

Positive statements are more descriptive using facts to make statements. In the above Carla will get more excercise at the fair than at the movies is a fact-based statement.

7 0

3 years ago