1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Ghella [55]
2 years ago
13

The following transactions occurred during May, the first month of operations for Hunter Products, Incorporated: Issued 50,000 s

hares of capital stock to the owners of the corporation in exchange for $600,000 cash. Purchased a piece of land for $400,000, making a $150,000 cash down payment and signing a note payable for the balance. Made a $60,000 cash payment on the note payable from the purchase of land. Purchased equipment on credit from BBW, Incorporated for $63,000. What is the total of Hunter Products' liabilities at the end of May
Business
1 answer:
NemiM [27]2 years ago
8 0

Answer:

$247,000

Explanation:

Calculation to determine the total of Hunter Products' liabilities at the end of May

Total of Hunter Products' liabilities=(400,000-150,000) - 60,000 + 63,000

Total of Hunter Products' liabilities=250,000 - 60,000 + 63,000

Total of Hunter Products' liabilities=$247,000

Therefore the total of Hunter Products' liabilities at the end of May will be $247,000

You might be interested in
According to virginia satir, the single factor determining the kinds of relationships we make with others is
Lilit [14]

According to Virginia Satir, communication is <span>the single factor determining the kinds of relationships we make with others.

</span><span>Virginia Satir was an American author and social worker, known especially for her approach to family therapy and her work with family reconstruction.</span>

3 0
3 years ago
Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related val
levacccp [35]

Answer:

10%Corridor

2011 $0

2012 $250,000

2013 $295,000

2014 $360,000

Accumulated

2011 $0

2012 $280,000

2013 $367,000

2014 $372,000

Minimum Amortization of Loss

2011 $0

2012 $3,000

2013 $6,000

2014 $1,000

Explanation:

Calculation to determine the net gain or loss amortized and charged to pension expense under the corridor approach

Year, Projected Benefit Obligation (a) , Plan Assets, 10%Corridor, Accumulated d OCI (G/L) (a), Minimum Amortization of Loss

2011 $2,000,000 $1,900,000 $200,000 $ 0 $0

2012 $2,400,000 $2,500,000 $250,000 $280,000 $3,000(b)

2013 $2,950,000 $2,600,000 $295,000 $367,000(c) $6,000(d)

2014 $3,600,000 $3,000,000 $360,000 372,000(e) $1,000(f)

Calculation for 10%Corridor

2011 $0

2012 10%*$2,500,000 =$250,000

2013 10%*$2,950,000 =$295,000

2014 10%*$3,600,000 =$360,000

Calculation for Accumulated Depreciation and Minimum Amortization of Loss

a. As at the beginning of the year

b. ($280,000 – $250,000) ÷ 10 years = $3,000

c. $280,000 – $3,000 + $90,000 = $367,000

d. ($367,000 – $295,000) ÷ 12 years = $6,000

e. $367,000 – $6,000 + $11,000 = $372,000

f ($372,000 – $360,000) ÷ 12 years = $1,000

Therefore the net gain or loss amortized and charged to pension expense under the corridor approach are :

10%Corridor

2011 $0

2012 $250,000

2013 $295,000

2014 $360,000

Accumulated Depreciation

2011 $0

2012 $280,000

2013 $367,000

2014 $372,000

Minimum Amortization of Loss

2011 $0

2012 $3,000

2013 $6,000

2014 $1,000

6 0
2 years ago
) Prestwich Company has budgeted production for next year as follows: First Quarter Second Quarter Third Quarter Fourth Quarter
grigory [225]

Answer:

165,000 pounds ($495,000)

Explanation:

To determine the budgeted purchases of material A in pounds for the second quarter, prepare a Materials Purchases Budget as follows :

<u>Materials Purchases Budget</u>

                                                                                                    Pounds

Materials Required for Production (80,000 x 2)                     160,000

Add Closing Materials Inventory (90,000 x 2 x 25%)              45,000

Total Materials                                                                          205,000

Less Opening Materials Inventory (80,000 x 2 x 25%)          (40,000)

Material Purchases                                                                    165,000

Cost per unit                                                                                       $3

Budgeted Materials Cost                                                       $495,000

6 0
3 years ago
Maria is a retired factory worker who lives with anxiety. due to the fear of having anxiety attacks, she does not leave her hous
Roman55 [17]

The criterion which is most appropriate to use in this case would be <u>“subjective discomfort”.</u>

<u> </u>


Subjective discomfort is one of the signs of abnormality when a person experiences a great deal of emotional distress while appealing in a particular behavior.

5 0
3 years ago
Question 56 of 75. Louise is a 29-year-old taxpayer who will use the head of household filing status. Her 2020 modified adjusted
Andre45 [30]

Considering the situation described above, the maximum amount Louise may receive for the retirement savings contributions credit (Saver's Credit) is "<u>$150</u>."

This is because according to the Internal Revenue Service regulations, for individuals filing under the head of household filing status, with an adjusted gross income of $31,876 - $48,750, such person would only be able to receive 10% of his retirement savings contributions credit (Saver's Credit).

Therefore, Louise has only contributed $1,500 to her employer's 401(k) plan. Consequently, she can only receive 10%, which is "<u>$150</u>."

Hence, in this case, it is concluded that the correct answer is "<u>$150</u>."

Learn more about Savers credit here: brainly.com/question/25767045

7 0
2 years ago
Other questions:
  • Why would deca, an international association of marketing students, be classified as a nonprofit organization?
    14·1 answer
  • Which structure would you be most likely to choose if your company wanted to give its sales people a predictable paycheck and al
    6·2 answers
  • The process of planning and managing a firm’s long-term assets is called:______.
    11·1 answer
  • Why are adjustments made to the accounting records at the end of the period? (You may select more than one answer. Single click
    15·1 answer
  • What does a company's customer service department do?
    14·1 answer
  • The cost to produce the goods or services sold for a given period is referred to as
    12·1 answer
  • Some traits of successful individuals in our industry, as mentioned by Aimee Mangold of KOLTER Hospitality included: drive, inte
    15·1 answer
  • PLEASE HELP ASAP, I NEED TO DO THIS BUT DONT KNOW HOW TO. Describe how free markets solve the problem of coordination. Why do co
    7·1 answer
  • A process includes 9 tasks and there are 3 workers. Each task can be assigned to only one worker and each worker must be assigne
    15·1 answer
  • Budget deficit singapore for 5 year
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!