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dolphi86 [110]
2 years ago
11

Transactions that affected Barter Company’s stockholders’ equity during 2015, the first year of operations, follow.

Business
1 answer:
nignag [31]2 years ago
6 0

Answer:

Barter Company

The total stockholders' equity at the end of 2015 is:

= b) None of these

Explanation:

a) Data and Analysis:

a. Cash $1,650,000 Common Stock $150,000 Additional Paid-up Capital $1,500,000

b. Treasury stock $18,000 Additional Paid-up Capital $192,000 Cash 210,000

c. Cash $37,000 Common Stock $3,000 Additional Paid-up Capital $34,000

d. Dividends $15,000 Cash $15,000

e. Net income = $185,000

Stockholders' Equity:

Common stock $153,000

APIC =              1,342,000

Net income =      185,000

Dividends =         (15,000)

Total =          $1,665,000

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Answer:

$30,604

Explanation:

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2019 interest expense is

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The Dec 31 2019 liability of book value is

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= $340,044

Now the interest expense for the year 2020 is

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Altex Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product
Lorico [155]

A) Direct labor hrs for car wheels = estimated wheels *direct labor per wheel  

40,000 *1hr = 40,000      

   

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10,000 * 3hr= 30,000      

   

total direct labor hrs 40,000+30,000 = 70,000  hrs

Overhead rate is total est oh cost/ total direct labor hrs    

770,000/70,000= 11.00    

B) Car truck wheels 40,000*11 =440,000

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6 0
3 years ago
How many National Officers currently serve BPA?<br> O 8<br> 06<br> 09<br> 010
sukhopar [10]

Answer:

8

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3 years ago
Jake owns a water pump. Because pumping large amounts of water is harder than pumping small amounts, the cost of producing a bot
Nastasia [14]

Answer:

Write convert() method to cast double to int Complete the convert() method that casts the parameter from a double to an integer and returns the result. Note that the main() method prints out the returned value of the convert() method.

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<h2>plz bhai mera answer ko brainliest kar do..</h2>
8 0
2 years ago
Loban Company purchased four cars for $9,000 each and expects that they will be sold in 3 years for $1,500 each. The company use
VLD [36.1K]

Answer:

a). The journal entries required to record the acquisition of the four cars are as follows:

     i)  credit motor vehicle account with the amount paid to purchase the four cars = $ 36,000

     ii) Credit bank  account with the the amount paid to purchase the four cars = $ 36,000

b). The journal entries required to record the 1st year's depreciation expense :

     i)  Debit the motor vehicle expense account with the amount accruing for the periods expense =$ 10,000 .

     ii) Credit the accumulated depreciation with the same amount = $ 10,000 .

b)   The journal entries required to record the gain on disposal of the motor vehicle is as follows:

    i) Debit the Cash account by amount gained = $ 500 .

    ii) Debit the Accumulated depreciation account by amount = $ 500 .

     iii) Credit the Motor vehicle account by amount = $ 500 .

     iv) Credit the Gain on disposal account by amount = $ 500 .

Explanation:

<u>a).  Determining the depreciation expense</u>

<u>Step 1 </u>

Get the purchase price for all the four cars using the expression below;

Total purchase price=purchase price per car×number of cars purchased

where;

purchase price per car=$9,000

number of cars purchased=4

replacing;

Total purchase price=(9,000×4)=36,000

Total purchase price=$36,000

<u>Step 2 </u>

Determine the salvage value after the useful life as shown;

Salvage value=selling price per car×number of cars

where;

selling price per car=$1,500

number of cars=4

replacing;

Salvage value=(1,500×4)=6,000

Salvage value=$6,000

<u>Step 3 </u>

Determine the depreciation base as shown;

depreciation base=total purchase price-salvage value

where;

total purchase price=$36,000

salvage value=$6,000

replacing;

depreciation base=(36,000-6,000)=$30,000

annual depreciation cost=depreciation base/useful life

annual depreciation cost=30,000/3

annual depreciation cost=$10,000

The first year's depreciation expense=$10,000  

Therefore, expected journal entries are as follows:

    i)  credit motor vehicle account with the amount paid to purchase the four cars = $ 36,000

     ii) Credit bank  account with the the amount paid to purchase the four cars = $ 36,000

b). The journal entries required to record the 1st year's depreciation expense :

     i)  Debit the motor vehicle expense account with the amount accruing for the periods expense =$ 10,000 .

     ii) Credit the accumulated depreciation with the same amount = $ 10,000 .

b)<u>.  Determining whether car was sold at a loss or gain.</u>

Car book Value = Acquisition cost - Accumulated depreciation

Car book Value = 9,000 - 2,500 = $ 6,500

Loss /Gain =  Consideration price( disposal price)  - Acquisition cost

Loss /Gain = $7,000 - $6,500 = $ 500

The company realized a gain of = $ 500

Therefore, expected journal entries are as follows:

i) Debit the Cash account by amount gained = $ 500 .

ii) Debit the Accumulated depreciation account by amount = $ 500 .

iii) Credit the Motor vehicle account by amount = $ 500 .

iv) Credit the Gain on disposal account by amount = $ 500 .

7 0
3 years ago
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