Joint stock companies should not be established for the purpose of

Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data

s344n2d4d5 [400]

Answer:

a. Profit(loss) = Total revenue - Total expenses

= 131,000 - 90,500

= $41,000

The company did in fact generate profit of $41,000 and this can be shown from the Income Statement which is where profit or loss is calculated.

b. A company uses its assets to pay off its liabilities so if the liabilities are less than the assets then the company is capable of paying off its liabilities:

Assets = Cash + Accounts Receivable + Supplies

= 30,800 + 25,300 + 40,700

= $96,800

Liabilities are just the Accounts Payable of $25,700.

Liabilities are less than Assets so Miami Music does indeed have sufficient resources to pay its liabilities.

This information comes from the Balance Sheet which is where assets and liabilities are shown.

7 0

3 years ago

Gary and Houston have been running their own business for three years. When they started the business, they developed a guide fo

valentina_108 [34]

Answer: Strategic plan, tactical plan, operational plan

Explanation:

The names that he should use to refer to the guide is the strategic plan. The strategic plan is used to know the goals of an organization and the.needed strategies that'll enable the achievement of the goals.

The individual plans, refer to the tactical plans and it occurs after the strategic plan has been created. The tactical plan simply shows the steps that will be taken for the goals to be accomplished.

The plan to oversee other plans is the operational plan. The operational plan is drawn by the company in order to propel the company to be successful and achieve its goals.

7 0

3 years ago

Plz help me ASAP!!!!

d1i1m1o1n [39]

Answer:

The correct answer is letter "D": Net price is how much college will cost you after scholarships and grants have been deducted.

Explanation:

There are two prices when talking about college expenses. The sticker price is the price that the school lists in different media and brochures of the estimated expenses for studying the career. On the other hand, the net price is the real expense the student ends up paying after financial aid, grants, and scholarships.

6 0

3 years ago

The Second National Bank of Guthrie has opened an office in Chile. This office offers a full line of services and is not a separ

erma4kov [3.2K]

The Second National Bank of Guthrie has opened an office in Chile. This office offers a full line of services and is not a separate legal entity from the Second National Bank of Guthrie. The type of office the Second National Bank of Guthrie open in Chile is the Branch Office

Explanation:

A branch office is one that :

That offers a full line of services and is not a separate legal entity from the Second National Bank of Guthrie.

A branch office is a location, which is other than the main office, where a business is conducted. A branch office consist of MANY smaller divisions of different DEPARTMENTS of the company such as human resources, marketing, and finance.

The main Difference between a branch office and a subsidiary is that a branch office is not a separate legal entity of the parent corporation whereas a subsidiary is a separate legal entity from the parent, although owned by the parent corporation.

6 0

4 years ago

Additional information: The net cash provided by operating activities for 2017 was $190,800. The cash used for capital expenditu

Studentka2010 [4]

-- missing information--

Balance Sheet

December 31, 2017

Assets

Current assets

Cash 60,100

Debt investments 84,000

Accounts receivable (net) 169,800

Inventory 145,000

Total current assets 458,900

Plant assets (net) 575,300

Total assets 1,034,200

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable 160,000

Income taxes payable 35,500

Total current liabilities 195,500

Bonds payable 200,000

Total liabilities 395,500

Stockholders’ equity

Common stock 350,000

Retained earnings 288,700

Total stockholders’ equity 638,700

Total liabilities and stockholders’ equity $1,034,200

Income Statement

For the Year Ended December 31, 2017

Net sales $2,218,500

Cost of goods sold 1,012,400

Selling and administrative expenses 906,000

Interest expense 78,000

Income tax expense 69,000

Net income $ 153,100

Answer:

(i) Working capital. $ 263,400

(ii) Current ratio 2.35

(iii) Free cash flow. $ 98,800

(iv) Debt to assets ratio. 38.2%

(v) Earnings per share. $ 3.062

Explanation:

(i) Working capital.

Current Assets - Current Liabilities:

458,900 - 195,500 = 263,400

(ii) Current ratio

Current Assets / Current Laibilities

458,900 / 195,500 = 2.35

(iii) Free cash flow.

cash from operations less cash used for capital expenditures

190,800 - 92,000 = 98,800

(iv) Debt to assets ratio.

Liaiblities / Assets

395,500 / 1,034,200 = 0.382421195

(v) Earnings per share.

net income / average shares outstanding

$ 153,100 / 50,000 = 3.062

7 0

3 years ago