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Dovator [93]
3 years ago
6

Ed is a debtor. Financial Loans, Inc., and the government are Ed’s creditors. For these parties, a bankruptcy proceeding under C

hapter 13 could be initiated by the filing of a petition by Ed alone or by his creditors jointly. Ed only. Financial Loans only. the government only.
Business
1 answer:
shtirl [24]3 years ago
6 0
Ed is a debtor. Financial Loans, Inc., and the government are Ed’s creditors. For these parties, a bankruptcy proceeding under Chapter 13 could be initiated by the filing of a petition by (A) Ed alone or by his creditors jointly.

Here are the following choices:
<span>A. Ed alone or by his creditors jointly.
B. Ed only.
C. Financial Loans only.
D. the government only.</span>
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The following data are from the accounting records of Kain Company: Net income $40,000 Depreciation expense 8,000 Decrease in ac
Arada [10]

Answer:

d. $44,700

Explanation:

The preparation of the Cash Flows from Operating Activities - Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $40,000

Add : Depreciation expense $8,000

Less: Decrease in accounts payable -$1,800

Add: Decrease in merchandise inventory $2,500

Less:  Increase in accounts receivable -$4,000

Net cash flows from operating activities    $44,700

The long term liabilities and the common stock is not relevant. Hence, ignored it

8 0
3 years ago
Oficina Bonita Company manufactures office furniture. An unfinished desk is produced for $37.10 and sold for $65.45. A finished
Arlecino [84]

Answer:

Find below analysis

Explanation:

Based on the appropriate template, I have prepared the differential analysis as shown in the attached excel file bearing in mind the following points:

The costs per desk under the alternative is the cost of an unfinished desk which is $37.10 plus the cost of further processing for a finished desk which is $6.30

Also, the different effect is simply the amount for alternative 2 minus amount under alternative 1

Download xlsx
5 0
3 years ago
Ivanhoe Corporation has fixed costs of $518,400. It has a unit selling price of $8, unit variable cost of $6.40, and a target ne
Alekssandra [29.7K]

Answer:

1,336,500 units

Explanation:

Selling price per unit  $8    

Less variable cost       $6.40  

Contribution per unit  $1.60

Fixed cost                      $518,400

Target net income        $ 1,620,000

Total amount required $2,138,400

Sales unit required = total amount required / Contribution per unit

= $2,138,400 / $1.60    

= 1,336,500 units

7 0
3 years ago
Adjusts the accounts at the end of each month. cruella's adjusting entry at the end of february should include a debit to rent e
Sauron [17]

After each month, adjust the accounts. Cruella's adjusting entry at the end of February should include a debit to rent expense for $100.

<h3>What is an adjusting entry?</h3>

Adjusting entries refer to a set of journal entries recorded at the end of the accounting period to have updated and accurate balances of all the accounts. The main purpose of adjusting entries is to communicate an accurate picture of the company’s finances. The management can have a proper look into the financial statements knowing that Everything that occurred during the month is reported, even if the financial part of the transaction would have been warranted to have occurred at a later stage.

To learn more about adjusting entries, visit;

brainly.com/question/4035835

#SPJ4

8 0
2 years ago
On January 1, 2019, Nash Corporation granted 9,600 options to key executives. Each option allows the executive to purchase one s
dimulka [17.4K]

Answer:

Dec 31 2019

Dr Compensation Expenses 219,000

Cr Paid in Capital- Stock Options 219,000

Dec 31 2020

Dr Compensation Expenses 219,000

Cr Paid in Capital- Stock Options 219,000

Dec 31 2021

Dr Cash 256,200

Dr Paid in Capital- Stock Options 339,450

Dr Common Stock 37,200

Cr Paid in capital in excess of par common stock 632,850

Dec 31, 2023

Dr Paid in capital stock options 98,550

Paid in capital Expired Stock Options 98,550

Explanation:

Nash Corporation

Dec 31 2019

Dr Compensation Expenses 219,000

Cr Paid in Capital- Stock Options 219,000

( 438,000/2 years)

Dec 31 2020

Dr Compensation Expenses 219,000

Cr Paid in Capital- Stock Options 219,000

Dec 31 2021

Dr Cash 256,200

(219,000+37,200)

Dr Paid in Capital- Stock Options 339,450

Dr Common Stock 37,200

Cr Paid in capital in excess of par common stock 632,850

Dec 31, 2023

Dr Paid in capital stock options 98,550

(438,000×22.5%)

Paid in capital Expired Stock Options 98,550

Computation of Paid in capital stock options

438,000×77.5%= $339,450

Common stock 7,440 X 5 per share

= 37,200

Stock options redeemed 7,440/9,600= 77.5%

5 0
4 years ago
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