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3 years ago

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

Business

1 answer:

Dvinal [7]3 years ago

8 0

Answer:

1. $132,600

2. $7,700

3. $25,600

Explanation:

1. Calculation to determine Total current assets

First step is to calculate the Current liabilities using this formula

Current liabilities = salaries payable + accounts playable + accrued interest

Let plug in the formula

Current liabilities= 19000 + 58000 + 1000

Current liabilities= 78000

Now let calculate the Total current assets using this formula

Total current assets = current ratio * current liabilities

Let plug in the formula

Total current assets = 1.7* 78000

Total current assets = $132,600

Therefore Total current assets is $132,600

2. Calculation to determine Short-term investments

Using this formula

Short term investments = Current assets - [cash + accounts receivables + inventory]

Let plug in the formula

Short term investments = 132,600 - [6900 + 39,000 + 79,000]

Short term investments = $7,700

Therefore Short term investments will be $7,700

3. Calculation to determine the Retained earnings

Using this formula

Current assets + fixed assets = Current liabilities + Long term liabilities + paid in capital + retained earnings

Let plug in the

132,600 + 215,000 = 78,000 + 49,000 + 195,000 + Retained earnings

347,600 = 322,000 + retained earnings

Retained earnings = 347,600 - 322,000

Retained earnings = $25,600

Therefore Retained earnings will be $25,600

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3 years ago

The following information is available for Department X for the month of August: Work in process, August 1:

Brilliant_brown [7]

Answer:

a. $8.00

Explanation:

The approach we will use to calculate cost per equivalent unit for conversion using weighted average method consists of the following stages:

1st stage: Add beginning (i.e start of August) conversion cost with conversion costs incurred during August to get total conversion cost

2nd stage: Then divide total conversion cost upon equivalent units of production (units of production for conversion =5300).

Now, lets compute.

Total conversion cost = $15900+$26500

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Cost per equivalent unit for conversion= $42400÷5300

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2 years ago

The Tree Top Airline (TTA) is a small feeder-freight line started with very limited capital to serve the independent petroleum

nikitadnepr [17]

Answer:

To make it feasible it will need to operate 7 or more planes.

Explanation:

450,000 maintenance facility

useful life of 15 year

salvage value of 100,000

<u>saving cost per plane:</u>

third party cost - own facility cost = cost savings

35,000 - 25,000 = 10,000

present value of the salvage value: (present value of a lump sum)

$\frac{salvage }{(1 + rate)^{time} } = PV$

salvage $ 100,000

time 15 years

Minimum accepter rate of return: 0.12000

$\frac{100000}{(1 + 0.12)^{15} } = PV$

PV 18,269.6261

present worth of the facility:

450,000- 18,268.63 = 431,731.37

Now we determinate the PMT over a 15 years period to know the cost savings per year to justify the facility:

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 431,731

time 15

rate 0.12

$431731.37 \div \frac{1-(1+0.12)^{-15} }{0.12} = C\\$

C $ 63,388.630

As each plane cost savings are 10,000

63,388.62 / 10,000 = 6.39

the company will need to operate 7 or more planes.

3 0

3 years ago

Assume a company buys a machine worth $1 million and pays for it by borrowing the funds from a bank. The firm's assets will rise

FinnZ [79.3K]

Answer:

True

Explanation:

When machine is purchased, then the assets increase by the carrying or purchase value of the machine purchased. Here, it is of $1 million.

Further, when it is purchased as against any credit, it creates a liability with the same amount.

Since here also the liability amount = $1 million, it will be recorded with the same.

As there is no involvement of Equity or Retained earnings this do not lay any impact on carrying value of owners equity.

Thus, it is True.

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3 years ago

At its height, what percentage of american workers were employed in an automotive-related industry?

USPshnik [31]

The percentage of American workers that were classified as employed in the industry that is automotive-related is only 20%. There were only 2 out 10 Americans who are working on this job. Automotive jobs cover auto dealerships, and manufacturing plants.

7 0

3 years ago

Read 2 more answers