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tresset_1 [31]
3 years ago
11

Ontario has provided the following year-end balances: Cash, $24,000 Patents, $7,900 Accounts receivable, $9,100 Property, plant,

and equipment, $98,900 Prepaid insurance, $4,600 Accumulated depreciation, $20,000 Inventory, $44,000 Retained earnings, 15,500 Trademarks, $13,600 Accounts payable, $8,000 Goodwill, $10,000 How much are Ontario's net noncurrent assets
Business
1 answer:
nignag [31]3 years ago
5 0

Answer:

$110,400

Explanation:

The computation of the net non-current assets is shown below:

= Patent + Property, plant, and equipment - accumulated depreciation + trade marks + goodwill

= $7,900 + $98,900 - $20,000 + $13,600 + $10,000

= $110,400

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A corporation issued 5,000 shares of its no par common stock that was assigned a $1 stated value per share. The issue price was
Rus_ich [418]

Answer:

Debit Cash account $50,000

Credit Ordinary share $5,000

Credit Share Premium $45,000

Explanation:

When share issued are paid for at an amount above the par or ordinary value, the excess paid is known as share premium.

The share premium like the par or ordinary value is recognized in the balance sheet as a part of the owners equity.

For a stock unit at par value of $1 for which the issue price was $10,

the share premium per unit

= $10 - $1

= $9

Ordinary share value = $1 × 5000 = $5,000

Share premium amount = $9 × 5,000 = $45,000

8 0
3 years ago
Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly fina
34kurt

Answer:

The estimated inventory at the end of February is $73400 as shown below

Explanation:

Beginning Inventory $57,800

Plus: Net purchases $120000

Freight-in                     $2,700

Cost of Goods Available for Sale $180500

less: Cost of Goods Sold

Net Sales$180000

Less Estimated Gross Profit $81000

Estimated Cost of Goods Sold $99000

Estimated Inventory before Theft 81500

Less: Stolen Inventory 8,100

Estimated Ending Inventory 73400

Gross profit $180000*45%=$81000

8 0
3 years ago
Partnerships refer to more than one owner. a limited partnership ______________.
snow_lady [41]
Is it a multiple choice question? Anyway, this is the definition of a limited partnership:

<span>A Limited Partnership is a partnership consisting of a general partner, who manages the business and has unlimited personal liability for the debts and obligations of the Limited Partnership, and a limited partner, who has limited liability but cannot participate in management.</span>
7 0
3 years ago
A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who ha
weqwewe [10]

Answer:

1. A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who have less experience (holding constant the amount of formal education). True

2. This might be the case because people with more experience have usually had more on-the-job training. True

3. Some studies have also found that experience at the same job (called job tenure) has an extra positive influence on wages. Job tenure is valuable because people gain <u>job-specific knowledge</u> that is useful to the firm.

Explanation:

A worker with more experience means more on-the-job training, this drastically increases the worker's value of the marginal product of labor.

5 0
3 years ago
The balance of the accumulated depreciation account on the adjusted trial balance of the end-of-period spreadsheet would be repo
Maslowich

Explanation:

hhcbbinjurybkjbfg kjgeehjj

3 0
3 years ago
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