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Alecsey [184]
2 years ago
14

[The following information applies to the questions displayed below The following financial statements and additional informatio

n are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash $ 53,000 $102,100 78,500 72,800 5,300 258,700 133,000 (31,500) Accounts receivable, net Inventory Prepaid expenses 60,000 100,000 7,200 220,200 124,000 (13,500) Total current assets Equipment Accum. depreciation-Equipment $330,700 Total assets $360,200 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities $34,000 6,900 4,300 45,200 39,000 84,200 43,500 16,800 5,600 65,900 69,000 134,900 Notes payable (long term) Total liabilities Equity Common stock, $5 par value Retained earnings 238,000 38,000 169,000 26,800 $330,700 Total liabilities and equity $360,200 IKIBAN INC Income Statement For Year Ended June 30, 2017 Sales $723,000 420,000 303,000 Cost of qoods sold Gross profit Operating expenses Depreciation expense $67,600 76,000 Other expenses Total operating expenses 143,600 159,400 Other gains (losses) Gain on sale of equipment 2,900 162,300 44,790 Income before taxes Income taxes expense $117,510 Net income IKIBAN, INC. Statement of Cash Flows (Direct Method) For Year Ended June 30, 2017 Cash flows from operating activities Cash flows from investing activities Cash flows from financing activities Net increase (decrease) in cash Cash balance at prior year-end Cash balance at current year-end
Additional Information
a. A $30,000 note payable is retired at its $30,000 carrying (book) value in exchange for cash.
b. The only changes affecting retained earnings are net income and cash dividends paid.
c. New equipment is acquired for $66,600 cash.
d. Received cash for the sale of equipment that had cost $57,600, yielding a $2,900 gain.
e. Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
f. All purchases and sales of inventory are on credit.
Business
1 answer:
Andrej [43]2 years ago
7 0

Answer:

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The market risk premium is computed by: adding the risk-free rate of return to the inflation rate. adding the risk-free rate of
OverLord2011 [107]

Answer:

subtracting the risk-free rate of return from the market rate of return

Explanation:

Market risk premium is the premium over the risk free rate that investors demand for holding a risky asset

Market risk premium = market rate of return - risk free rate

the higher the risk premium, the higher the return investors are demanding and the riskier the investment

for example if risk free rate is 5% , market rate of return in industry A is 10% while in industry B it is 20%

Market premium in A = 10% - 5% = 5%

Market premium in b = 20% - 5% = 15%

3 0
3 years ago
Domestic producers experience limited import competition when a VER is in place. As a result, these producers make extra profit
GuDViN [60]

Answer:

Quota rent

Explanation:

When voluntary export restraints (VER) are set up and / or import quotas are enforced, the extra profit that domestic producers make because the supply is artificially limited is called quota rent. Quota rents are a type of economic inefficiency since they produce more losses than benefits. Society as a whole generally losses while a group of favored companies make huge profits.

For example, sugar imports are limited in the US, so domestic sugar producers are able to sell sugar at much higher prices than regular international prices. That artificial extra profit earned by sugar companies in the US can be classified as quota rent.

8 0
2 years ago
Cuso Company purchased equipment on January 1, 2016, at a total invoice cost of $400,000. The equipment has an estimated salvage
grigory [225]

Answer:

D. $156,000

Explanation:

Cost = $400,000

Residual value = $10,000

Useful life = 5 years

Now,

Annual straight line depreciation = \frac{Cost-Residual Value}{Useful life}  

Annual straight line depreciation = \frac{400,000 - 10,000}{5}  

Annual straight line depreciation = \frac{390,000}{10}  

Annual straight line depreciation = $78,000

Annual depreciation expense is transferred to the accumulated depreciation. Thus, accumulated depreciation is sum of depreciation expense charged over the useful life of the asset.

Depreciation table has been constructed to compute the accumulated depreciation on 31st December 2017.

5 0
2 years ago
An electronic firm invested $60,000 in a precision inspection device. It cost $4000 to operate and maintain in the first year an
Anon25 [30]

Answer:

$9,287.63

Explanation:

Data provided in the question:

Amount invested = $60,000

Operating cost for the first year = $4000

Operating and maintaining cost after 1 year = $3,000

Selling price  = $60,000

Now,

Amount paid extra in the year 1 =  $4,000 - $3,000

= $1,000

EUAC ($)

= $60,000 × A/P(10%, 4) + $3,000 + $1,000 × P/F(10%, 1) × A/P(10%, 4) - [ $60,000 × P/F(10%, 4) × A/P(10%, 4) ]

= [ $60,000 × 0.3155 + 3,000 + 1,000 × 0.9091 × 0.3155 ] - [ 60,000 × 0.6830 × 0.3155  ]

= [ $18,930 + $3,000 + $286.82 ] - [ $12,929.19 ]

= $9,287.63

5 0
3 years ago
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