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Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 an

o-na [289]

Answer:

a) Stockholders' equity = $411,690

b) Stockholders' equity = $477,930

Explanation:

Accounting equation is defined as Assets = Liabilities + Equity.

a) If t the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 and liabilities of $220,310, the Stockholders' equity as of December 31 of the current year would be determined as follows:

$632,000 = $220,310 + Equity

Stockholders' equity = $632,000 - $220,310

Stockholders' equity = $411,690

b) If assets increased by $84,040 and liabilities increased by $17,800 during the next year, then Stockholders' equity would be determined as follows:

$632,000 + $84,040 = $220,310 + $17,800 + Equity

$716,040 = $238,110 + Equity

Stockholders' equity = $477,930

8 0

3 years ago

Howard Ramsell recently became aware of implied warranties that exist for consumer purchases. An implied warranty exists as a re

faltersainse [42]

Answer:

(C) the intended use of a product.

Explanation:

Implied as the term means that it is obvious, further guarantee means that the guarantee is obvious.

Now, this is because of the use of the product, as for example there is an equipment called heater, which is generally sold in winters, as it warms the room.

Now it is implied that the heater shall at-least be in proper condition and shall work without any failure for one season of winters.

The correct answer is,

Statement C

3 0

3 years ago

In the month of November Marigold Corp. wrote checks in the amount of $43300. In December, checks in the amount of $59239 were w

yanalaym [24]

Answer:

$11,977

Explanation:

The difference between the balance of the total checks written and balance of the total checks presented for withdrawal gives the amount outstanding.

As such, amount of outstanding checks at the end of December is the net of the balance of the checks written in November and December and the balance of the checks presented in the same period.

This is

= $43300 + $59239 - $39630 - $50932

= $11,977

4 0

3 years ago

Read 2 more answers

One reason a long-tenured top-level manager may hesitate to conclude the firm's structure is a problem is that doing so: a. sugg

uysha [10]

Answer: suggests that the firm's previous choices were not the best ones.

Explanation: For a long-tenured top-level manager to make such proclamation, shows the inefficiencies of the firm which he is a part of. He obviously has been with the firm for a very long time and making that proclamation will also be a dent in his image as a manager.

8 0

3 years ago

Dream Homes is an appliance store. It recently launched its own brand of freezers in order to build customer loyalty. The store

Alex787 [66]

The Pricing strategy which Dream Homes implemented is known as Price lining (Option A) which categorized the prices accordingly with the financial soundness of the customers.

Explanation:

The demand for more goods always plays a vital role in ensuring good sales. The likes of the customers towards particular products depend upon the nature of unique features and its fine quality. By capturing the pulse of the purchasing power of the customers, the business ventures fixed the prices according to the level of economical weaker sections, middle, and high-income groups.

In this case, Dream Homes fix the price of freezers by measuring the ability of customers' to buy them without compromising with the customers requirements. Dream Homes uses the price lining method to gain customers' reputation by selling the products accordingly with their status of income level.

8 0

3 years ago

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