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Scorpion4ik [409]
2 years ago
7

Rashmi has her own online stationery business, creating greeting cards, thank-you cards, and invitations. When she makes several

new designs, she posts them on her website and asks all customers who visit the site to vote on the ones they like best. She also posts a blank card template and invites her customers to create their own designs. Based on customer feedback and designs, she decides which cards to produce and sell. This scenario best describes: __________
Business
1 answer:
mafiozo [28]2 years ago
6 0

Answer:

,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

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Madison Corporation purchased 40% of Jay Corporation for $400,000 on January 1. On June 20 of the same year, Jay Corporation dec
labwork [276]

Answer:

E. $560,000

Explanation:

Balance of Long term Investment  

= Value of Investment  - Pre Acquisition Dividend ($100,000*40%) + Share of Net Income ($500,000*40%)

= $400,000 - $40,000 + $200,000

= $560,000

Therefore, The balance in Madison Corporation's Long-Term Investment-Jay Corporation account as of December 31 should be $560,000.

8 0
2 years ago
Concord Corporation reported net income of $177,200 for 2017. Concord Corporation also reported depreciation expense of $35,230
klio [65]

Answer

Net income 177,200

+35230 depreciation

+4,920 loss on disposal

217,350 adjusted net income (a)

↑↓

↑AR -14,160

↑Prepaid -4,190

↑AP 17,220

Change in working Capital -1,130(b)

<u />

<u>Cash Flow generated from operating activities 216,220</u>

<u />

Explanation:

(a) we must remove the non-monetary account from the income statement

This means add the non-monetary expenses and losses

Subtract the non monetary revenue and gains

(b)

The increase in assets account have a negative meaning, because it is assumed the company used cash to adquire it.

Whiel increase in liabilities are positive, because the company receive aah or delay the payment of cash.

4 0
2 years ago
The following amounts were selected from the production report of Chandon Corporation: Actual units in production 42,000 Equival
SpyIntel [72]

Answer:

Total cost is equal to $81300

So option (c) will be correct answer.

Explanation:

Actual unit of production = 42000

Cost of per equivalent material = $1.10

Equivalent cost of material = =42000\times1.1=46200$

Equivalent cost of labor = =39000\times 0.9=35100$

Therefore total cost of production = $46200+$35100 = $81300

So total cost will be $81300

Therefore option (c) is the correct answer

5 0
3 years ago
kala and leah partners in best designs have capital balances of $40,000 and $60,000 respectively. adam joins the partnership by
inna [77]

Answer:

The solution to the following problem is done below.

Explanation:

a) Journalize the entries to record the admission of adam to the partnership.

Account Title                                                                          Dr            Cr

Kala, Capital                                                                         20,000

Adam, Capital                                                                                       20,000

Cash                                                                                      10,000

Kala, Capital                                                                                           8,000

Leah, Capital                                                                         6,000

Adam, Capital                                                                                        24,000

b) Immediately after adam's admission to the partnership, leah sells one-fourth of her interest to denton for $35,000. journalize the entry to record the transaction.

Account Title                                                                          Dr            Cr

Leah, Capital                                                                        13,500

Denton, Capital                                                                                    13,500

6 0
3 years ago
Read 2 more answers
Clarion corp. invested cash in a 6-month certificate of deposit (cd) on november 1, 2015. if clarion corp. has an accounting per
melisa1 [442]
<span>Clarion should expect to recognize interest revenue on their CD both on December 31st 2015 and May 1st 2016. They will receive it in December thanks to end of your returns and then it will pay out its full amount 6 months from the purchase date which is on May 1st of 2016.</span>
7 0
3 years ago
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