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kumpel [21]
3 years ago
8

At the beginning of the year, Kimball Company had total assets of $700,000 and total liabilities of $400,000. If the total asset

s increased $100,000 and the total liabilities decreased $80,000, what is the amount of owner’s equity at the end of the year?
Business
1 answer:
svlad2 [7]3 years ago
4 0

Answer:

$ 480 000

Explanation:

Assets : $700 000(@ beginning of year )

$100 000 increase (during year )

700 000+100 000=$800 000(@end of year)

Liabilities : $400 000(@ begininng of year )

$80 000 decrease (@ during of year)

400 000-80 000=$320 000 (@end of year)

Asset = Equity + Liability

Amount of owner’s equity at the end of the year (let x = owners equity)

800 000= x + 320 000

x= 800 000 - 320 000=$480 000

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Answer:

To calculate the total cash disbursement for manufacturing overhead, take the total manufacturing overhead cost less depreciation.

Total manufacturing overhead cost

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= $15000 + $43140

= $58140

Cash disbursement cost

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= $58140 - $3620

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The January cash disbursement for manufacturing overhead is $54520.

Explanation:

A few key points to remember:

Fixed manufacturing overhead cost is all the costs of production which stay constant such rent, depreciation, etc. In other words components in the manufacturing process which stay constant.

Variable cost is based on the number of direct labor hours and the rate allocated per direct labor hour.

When calculating the cash disbursement, depreciation is taken out as a fixed component from the total manufacturing cost as it is not a cash outlay even though it is a fixed cost. Hence cash disbursement is calculated on the total manufacturing overhead less depreciation.

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2 years ago
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1. Almost half the jobs in this country come from small businesses.<br> True<br> False
Dmitrij [34]

Answer:

True

Explanation:

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If oligopolistic firms facing similar cost and demand conditions successfully collude, price and output results in this industry
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Answer:

C) the monopoly model

Explanation:

First of all, collusion is illegal, and it is defined as secret cooperation between individuals or organizations that should be competing against each other.

In this case, the oligopolistic firms should be competing against each other trying to earn a larger market share, but since they collude together, they will act as if they were one single large monopoly. Usually collusion leads to higher prices, benefiting the companies but hurting the customers. Since all the competing firms in the market decided to work together, they will set their prices in a similar manner to a monopoly since there is no real competition between them.

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2 years ago
Differentiate between a defined contribution pension plan and a defined benefit pension plan. Explain how the employer's obligat
serg [7]

Answer:

Differences Between a Defined Contribution Pension Plan and a Defined Benefit Pension Plan.

With a defined contribution pension plan, the benefit that will accrue to the employee is not known or defined ahead of her retirement.  But the contributions that will be made by the employer and the employee to fund the pension are clearly spelt out.

With a defined benefit pension plan, the benefit (i.e. the monthly payment to the retiree) is stated ahead of the pension time.  It is based on the employee's tenure and salary.  Employees do not contribute to the plan but are entitled to lifetime monthly payments.

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The employer and each employee contribute some certain percentages to each worker's individual retirement account (IRA) under the defined contribution pension plan.  Under the defined benefit pension plan, the employer is solely responsible for funding the plan and the employee benefits via a monthly payment from the funding plan during retirement.

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