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2 years ago

The following accounts and balances were drawn from the records of Barker Company at December 31, Year 2:

Business

1 answer:

spayn [35]2 years ago

5 0

The Income Statement is $18,500

Construction of Baker income statement

Revenue

Service Revenue $65,200

Total Revenue $65,200

Expenses

Other operating expenses $41,000

Supplies Expense $1,100

Insurance expense $2,100

Rent Expense $2,500

Total Expenses $46,700

Net Income $18,500

($65,200-$46,700)

Inconclusion the Income Statement is $18,500

Learn more about Income statement here:

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When consumers and businesses have greater confidence that they will be able to repay in the future, _______________________. Qu

Viefleur [7K]

When consumers and businesses have greater confidence that they will be able to repay in the future, <u>the quantity demanded of financial capital at any given interest rate will shift to the right.</u>

6 0

3 years ago

one theory behind ____ is that the best outcome to civil ______ is a _____ and that parties will move toward agreement if they u

Leviafan [203]

Answer:

The correct answers that fills the gaps are: discovery, litigation, negotiated settlement, examine, evidence.

Explanation:

The litigation is a conflict of interest qualified and elevated to a jurisdictional authority, by a subject of law, with an intention or claim against another that manifests a resistance or that opposes the approach of the former, as Francisco Carnal suggests.

Some authors consider that the concept of litigation only applies to civil proceedings in contractual disputes, and that the term controversy should be used in criminal proceedings. However, progress has been made regarding this idea, because now, in criminal proceedings, civil action or damages are usually used, which gives rise to extra contractual liability.

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3 years ago

At its inception, Peacock Company purchased land for $50,000 and a building for $220,000. After exactly 4 years, it transferred

Viktor [21]

Answer:

Selvick company should record the building at $220,000 and accumulation depreciation of $44,000

Explanation:

The computation of deprecation is shown below:

Depreciation = (Original cost - salvage value) ÷ useful life

where,

Original cost is $220,000

Salvage value is 0

And, the useful life is 20 years

Now put these values to the above formula

So, the answer would be equal to

= $220,000 - 0 ÷ 20

= $11,000

And, the accumulated depreciation would be

= Depreciation × number of years

= $11,000 × 4

= $44,000

we ignored other information which is given in the question, as we have to compute the depreciation through Straight line method.

Hence, Selvick company should record the building at $220,000 and accumulation depreciation of $44,000

7 0

3 years ago

What types of questions can be answered by analzying financial statements?

NARA [144]

- Would an investment generate attractive returns?
- What is the degree of risk inherent in the investment?
- Should existing investment holdings be liquidated?
- Will cash flows be sufficient to service interest and principal payments to support the firm's borrowing needs?
- Does the company provide a good opportunity for employment, future advancement, and employee benefits?
- How well does this company compete in its operating environment?
- <span>Is this firm a good prospect as a customer?</span>

6 0

2 years ago

Read 2 more answers

Concord Corporation had 807000 shares of common stock outstanding at December 31, 2021. In addition, it had 150000 stock options

Radda [10]

Answer:

846,000 shares

Explanation:

According to the scenario, computation of the given data are as follows:

Outstanding common stock = 807,000 shares

Outstanding option stock = 150,000

option price = $37

Market price of common stock = $50

So, 150,000 - (150,000 × $37 ÷ 50)

= 150,000 - 111,000

= 39,000

So, Number of shares = 807,000 + 39,000

= 846,000 shares

7 0

3 years ago