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mel-nik [20]
3 years ago
7

Sunland Company compiled the following financial information as of December 31, 2017: Service revenue $842000 Common stock 17700

0 Equipment 229000 Operating expenses 747000 Cash 203000 Dividends 59000 Supplies 33000 Accounts payable 112000 Accounts receivable 90000 Retained earnings, 1/1/17 442000 Sunland assets on December 31, 2017 are:
Business
2 answers:
posledela3 years ago
7 0

Answer:

555,000

Explanation:

Sunlad assets on December 31 2017 can be calculated as follows

= equipment + cash + supplies + account receivables

= 229,000 + 203,000 + 33,000+ 90,000

= 555,000

Hence Sunland total assets in December 31 2017 is 555,000

Naddika [18.5K]3 years ago
7 0

Answer:

Sunland assets on December 31, 2017 are: $555,000

Explanation:

Assets are economic resources controlled by ab entity as a result of past events and these economic resources will be seen in increase of cash inflows in the business..

We have two types of assets for every business. The first group is of Long term nature known as the Non-current assets and the other group is of the Short term nature known as the Current Assets.

So for this question we need to add both the Non-current assets and the Current Assets to determine the total assets for Sunland Company.

<u>Calculation of Total assets for Sunland Company:</u>

Equipment                 229,000

Cash                           203,000

Supplies                       33,000

Accounts receivable   90,000

Total                           555,000

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Explanation:

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3 years ago
A __________________ exists when the quantity demanded in the market is less than the quantity at the bottom of the long-run ave
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Natural monopoly

Explanation:

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6 0
3 years ago
Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory accou
vodka [1.7K]

Answer: $‭238,800‬

Explanation:

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8 0
2 years ago
Base Electronics buys 5,000 shares of stock in Blue Mission Company for $10 per share on January 2 of the current year. Base own
denpristay [2]

Answer:

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  • Dr Equity Investments account (Blue Mission) 34,000
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Explanation:

Since Base owns 34% of Blue, they should record 34% of Blue's net income = $100,000 x 34% = $34,000

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Dr Equity Investments account (Blue Mission) 34,000

Cr Revenue from Investments account 34,000

Equity investments account is an asset account and it increases, therefore it should be debited.

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3 years ago
Item 6Item 6 Suppose that the firm's only variable input is labor. When 50 workers are used, the average product of labor is 50
Kipish [7]

Answer:

$1.07

Explanation:

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The marginal cost is $1.07.

3 0
3 years ago
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