Ask question

Ask question

All categories

4 years ago

14

True or false: strength machines are generally regarded as superior to free weights for improving core stability and coordinatio

n.

1 answer:

Levart [38]4 years ago

6 0

The answer to your question would be false

You might be interested in

The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.Accounts Debit CreditCash $1

zepelin [54]

Answer:

These can be prepared as shown below:

Explanation:

1. Prepare a statement of stockholder equity for the year ends December 31, 2018, assuming no common stock was issued during 2018.

To do this, the income statement is first prepared by ignoring tax as follows:

Fightin' Blue Hens Corporation

Income Statement

for the year ended December 31, 2018.

Details $

Service Revenue 300,000

Salaries Expense (200,000)

Rent Expense (10,000)

Depreciation Expense (20,000)

Interest Expense <u> (3,000) </u>

Earnings for the year <u> 67,000 </u>

Therefore, we have:

Fightin' Blue Hens Corporation

Statement of Stockholder Equity

for the year ends December 31, 2018

Details $

Common stock 100,000

Retained Earnings 40,000

Earnings for the year <u> 67,000</u>

Stockholder Equity <u> 207,000 </u>

2. Prepare a classified balance sheet as of December 31, 2018.

A balance sheet is a balance sheet that have different classifications suchas fixed assets, current assets and liabilities, long-term liabilities, and stockholder equity. This can be prepared as follows:

Fightin' Blue Hens Corporation

Classified Balance Sheet

for the year ends December 31, 2018

Details $ $

<u>Fixed Assets</u>

Equipment 200,000

Accumulated Depreciation <u> (115,000) </u>

Net Fixed Assets 85,000

<u>Current Assets</u>

Cash 10,000

Accounts Receivable 130,000

Prepaid Rent 4,000

Supplies <u> 20,000 </u>

Total current assets 164,000

<u>Current Liabilities</u>

Accounts Payable (10,000)

Salaries Payable (9,000)

Interest Payable <u> (3,000) </u>

Working capital 142,000

<u>Long-term Liabilities</u>

Notes Payable (due in two years) <u> (20,000) </u>

Net Total Assets <u> 207,000</u>

Financed by:

Common stock 100,000

Retained Earnings 40,000

Earnings for the year <u> 67,000</u>

Stockholder Equity <u> 207,000 </u>

Note: When a balance sheet is accurately prepared, the net total assets and the stockholder equity must be equal as above with both equaling $207,000.

6 0

4 years ago

Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Depart

Arlecino [84]

Answer:

a. costs of production Pulping: 165000 conversion: 159000

b. Cost per equivalent unit Pulping: 0.65 conversion: 0.20

c. cost of units completed and transferred out: Pulping: 102050 conversion: 31400 Total: 133450

d. Cost of reconciliation:

Cost of beginning in process inventory (4800 + 500) = 5300

Costs added to production during the period (102450 + 31800) =134250

8 0

3 years ago

A) Depreciation on the company's equipment for 2017 is computed to be $16,000.

OleMash [197]

Answer:

Adjusting Journal Entries:

a) Debit Depreciation Expense - Equipment $16,000

Credit Accumulated Depreciation - Equipment $16,000

To record depreciation charge for the year.

b) Debit Insurance Expense $8,100

Credit Insurance Prepaid $8,100

To record insurance expense for the year.

c) Debit Office Supplies Expense $2,583

Credit Office Supplies Account $2,583

To record office supplies used for the year.

d) Debit Deferred Revenue $2,750

Credit Service Revenue $2,750

To record revenue for work done this period.

e) Debit Insurance Expense $4,200

Credit Prepaid Insurance $4,200

To record insurance expense for the year.

f) Debit Wages Expense $5,000

Credit Wages Payable $5,000

To record unpaid wages as of December 31, 2017.

Explanation:

Adjusting journal entries are entries made in the journal to accrue expenses and revenue in line with the accrual concept and the matching principle of U.S. GAAP. The concept and principle require that expenses and revenue are matched in the period they were incurred and not when they were actually paid for or received.

4 0

3 years ago

Hector is a married, self-employed taxpayer, and this year he paid $3,000 for his health insurance premiums (not through an exch

Korvikt [17]

Answer:

The answer to this question is option B. Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

Explanation:

Hector can deduct the cost of the premium for AGI if Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

7 0

3 years ago

Gary has just purchased a beer distributorship. He wants to increase the visibility of his firm in local markets, but he knows t

just olya [345]

<u>Answer:</u>

The first thing Gary should do is to "identify issues that need to be addressed".

<u>Explanation:</u>

Establishing business in the field of Alcoholic beverages, smoking materials, nicotine content products etc, is looked after from two dimensions by market: one who need it and the other who oppose it. The regulation of such business ideas in market or society is only acceptable when issues or barriers are rectified legally to overcome situation.

Such products should be promoted only after getting license from specified authorities, following the rule of packaging, labeling products according to rules and regulation which carry all mandatory information like composition, merits and demerits of using, warnings: regarding allergy, price, manufacturing and expiry dates etc.

8 0

3 years ago