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pashok25 [27]
2 years ago
11

At the beginning of 2021, Artichoke Academy reported a balance in common stock of $154,000 and a balance in retained earnings of

$54,000. During the year, the company issued additional shares of stock for $44,000, earned net income of $34,000, and paid dividends of $10,400. In addition, the company reported balances for the following assets and liabilities on December 31.
Assets Liabilities
Cash $52,600 Accounts payable $9,100
Supplies 13,400 Utilities payable 2,400
Prepaid rent 24,000 Salaries payable 3,500
Land 200,000 Notes payable 15,000

Required:
Prepare a statement of stockholders’ equity. Prepare a balance sheet.
Business
1 answer:
professor190 [17]2 years ago
4 0

Answer and Explanation:

The preparation of the statement of the stockholder equity and balance sheet would be shown in the attachment below:

The formulas for ending retained earning balance and stockholder equity  is

Ending retained earnings = Opening retained earnings + net income - dividend paid

And, the ending equity is

= Opening equity + additional shares

The same would be shown in the attachment

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A company had net income of $252,327. Depreciation expense is $21,821. During the year, Accounts Receivable and Inventory increa
Anettt [7]

Answer: Option (d) is correct.

Explanation:

Given that,

Net Income = $252,327

Depreciation expense = $21,821

Accounts Receivable increased by = $14,346

Inventory increased by  = $33,617

Prepaid Expenses decreased by = $3,079

Accounts Payable decreased by = $4,161

Loss on the sale of equipment = $5,398

Operating Income = Net Income + Depreciation expense - Accounts Receivable - Inventory + Prepaid Expenses - Accounts Payable + Loss on the sale of equipment

= $252,327 + $21,821 - $14,346 -  $33,617 + $3,079 - $4,161 + $5,398

= $230,501

7 0
3 years ago
nikolaos is an ordained minister. he moved to indianapolis and lives in the nearby furnished parsonage, which is 1,500 square fe
siniylev [52]

Option D. The way that Nikolaos would be able to determine for the parsonage of the Indianapolis would be: Consult an Indianapolis realtor for a documented quote with comparable listings for the house.

<h3>What is meant by parsonage?</h3>

Old French personage and medieval Latin personagium, both of which imply "home for a person," are the origins of the word "parsonage." A house in the early church was frequently not much more than a priest's place to sleep.

A clergy house is where one or more priests or other religious leaders currently live or previously lived. Such homes may be referred to as manse, parsonage, rectory, or vicarage, among other names.

A recent sale of a property in your neighborhood that is comparable to yours in terms of location, size, condition, and features is known as a "comp," short for "comparable sale."

Comparable (similar) homes have to have equivalent market values, and thus comparable assessed values. Comparing the assessment of your home to the assessments of other comparable homes is one approach to determine whether it has been done fairly or uniformly.

Read more on realtors here:

brainly.com/question/29452584

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Nikolaos is an ordained minister. He moved to Indianapolis and lives in the nearby furnished parsonage, which is 1,500 square feet. His previous role was in Washington, D.C.; the fair rental value (FRV) of his parsonage (1,800 square feet) in Washington was $18,000/year.

How should he determine FRV for the Indianapolis parsonage?

Use the same FRV as the Washington, D.C. parsonage.

Reduce the Washington FRV by the size ratio of the new parsonage to the Washington home.

Estimate FRV based on other properties available in the area.

Consult an Indianapolis realtor for a documented quote with comparable listings for the house.

6 0
1 year ago
The money spent on domestically produced final goods and services: Group of answer choices is equal to exports minus imports. is
Ad libitum [116K]

Answer:

Explanation:

The money spent on domestically produced final goods and services: is equal to GDP.

<u>Gross domestic product, or GDP, is the total value of all final goods and services produced in the economy during a given year. </u>

GDP is used as a measure of the size of an economy and can also be used to compare the economic performance in other countries.

3 0
3 years ago
According to Larry Marder, the president of the McFarlane Companies, the company has changed and morphed and grown over the year
cricket20 [7]

Answer:

Unrelated Diversification

Explanation:

The reason is that the company has entered in a number of product offering that are unrelated to each other. This means the company has subtantially reduced its industry risk by managing a portfolio of products that are different from each other from industry perspective. This is an example of unrelated diversification because comics are unrelated to sports figures, music videos and motion pictures.

8 0
3 years ago
Which of the following two methods are typically used for initial screening of​ investments, rather than for​ detailed, in-depth
OLga [1]

Answer:

A. payback and accounting rate of return

Explanation:

  • The initial screen is a practice method of excluding the investments form the portfolio basis on the social environment and governance and the screening is mot applicable to the investments.
  • Such as the mutual funds and the privately co-mingled funds. A positive screening means to exclude the companies that are environmental friendly have a socially responsible business practice.
4 0
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