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ch4aika [34]
3 years ago
15

Park & Company was recently formed with a $5,400 investment in the company by stockholders. The company then borrowed $2,400

from a local bank, purchased $1,040 of supplies on account, and also purchased $5,400 of equipment by paying $2,040 in cash and signing a promissory note for the balance. Based on these transactions, the company's total assets are:
Business
1 answer:
Sergio [31]3 years ago
8 0

Answer:

Net assets after above transactions = $11,160

Explanation:

Provided information we have,

Investment by stockholder's = $5,400

Increase in cash, increase in assets.

Amount borrowed will increase liability and bank balance = $2,400

Purchase of supplies, will reduce cash and increase supplies inventory thus, no impact on assets.

Purchase of equipment of $5,400 will increase equipment and assets by same.

Cash paid for equipment will decrease the cash and decrease the assets = $2,040

Net impact on assets = $5,400 + $2,400 + 0 + $5,400 - $2,040 = $11,160

Net assets after above transactions = $11,160

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The major parts of the Stockholders' Equity section of the balance sheet are
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The correct answer is choice D.

The Stockholders’ Equity section of the balance sheet includes stock, paid-iin capital and retained earnings.

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3 years ago
The real per capita GDP in country X is 4 times of that in country Y. The annual growth rate in country X is 2.33%, while in cou
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Answer:

It will take 30 years for country Y’s GDP to catch up with that of country X

Explanation:

In this question. We are asked to calculate the number of years it will take a certain country Y to catch up with the GDP of a certain country X, given the annual growth rate in both countries.

We calculate the number of years as follows;

Firstly, we assign a variable to the value of the real GDP of country Y

let real

Let the real GDP of the country Y be n. This means that the GDP of country C will be 4 * n = 4n

With a 7% growth rate annual, country Y's Real GDP will be doubled in 70/7 = 10 years and;

With annual growth rate of 2.33% ,country x's Real GDP doubles in 70/2.33 = 30 years.(Approx)

Now in next 30 years x's Real GDP will be = 2x4n = 8n

and Y's Real GDP in next 30 years will be = 2x2x2xn = 8n.

thus , it will take 30 years to country Y to catch up to the level of country x.

7 0
3 years ago
Read 2 more answers
Suppose two cities are considering tearing down their stadiums to build new ones. In one city, the old stadium cost $5 million t
timofeeve [1]

Answer:

These are the options for the question:

A. They should be more willing to tear down the $5 million stadium, because it cost less to build.

B. They should be more willing to tear down the $50 million stadium, because it cost more to build.

C. The cost to build the old stadium shouldn’t be considered.

And this is the correct answer:

A. They should be more willing to tear down the $5 million stadium, because it cost less to build.

Explanation:

City A will likely be more willing to tear down its old stadium because it costed $5 million to build. City B, on the other hand, will have to think twice because a stadium that costed $50 billion to build could have more value than it seems, or the City could simply not have enough money to build a better new stadium (something that would probably cost more than $50 billion to do).

4 0
3 years ago
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The article discusses income inequality, and for some people this means a more equitable distribution of income is needed in the
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<span>The phrase used in the article, a more equitable distribution of income, is meant to convey the idea that income should be more fairly distributed through everyone in all classes in the country. The basic idea is there should not be such huge gaps between the top and bottom income tiers.</span>
6 0
3 years ago
Labor and employers agreed to a new ""social contract"" that included all of the following provisions EXCEPT:
Marina86 [1]

Correct/Complete Question: Labor and employers agreed to a new "social contract" that included all of the following provisions EXCEPT:

A) employers required the National Association of Manufacturers to accept the right of workers to organize unions.

B) unions left decisions regarding capital investment in management's hands.

C) unions left decisions regarding plant location in management's hands.

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E) employers extended pensions and health insurance to workers.

Answer:

A, employers required the National Association of Manufacturers to accept the right of workers to organize unions.

Explanation:

A social contract is an agreement made between the superiors and subordinates defining the rights and duties of both parties. Since this contract has spelt out the duties of each, the Manufacturer's Association doesn't expect workers to set up unions.

i hope this helps.

5 0
3 years ago
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