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Ivanshal [37]
2 years ago
12

Penny Lyman is the owner and operator of Go109, a motivational consulting business. At the end of its accounting period, Decembe

r 31,
2041, Go 109 has assets of $659,000 and liabilities of $165,000. Using the accounting equation and considering each case independently,
determine the following amounts
Business
1 answer:
zalisa [80]2 years ago
3 0

Based on the accounting equation, the amount for each case can be independently determined as follows:

a. The Penny Lyman, capital, as of December 31, 20Y1, is <u>$494,000.</u>

b. If assets increased by $88,000 and liabilities increased by $27,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$555,000</u>.

c. If assets decreased by $151,000 and liabilities increased by $13,000, the Penny Layman, capital, as of December 31, 20Y2, is <u>$330,000</u>.

d. If assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2, the Penny Layman, capital, as of December 31, 20Y2, is <u>$672,000</u>.

e. Assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals, and the capital remained $494,000 of 20Y1, then the net income or (loss) for 20Y2 is <u>$92,000</u> ($782,000 - $196,000 - $494,000)

<h3>Data and Calculations:</h3>

Assets at December 31, 20Y1 =$659,000

Liabilities = $165,000

Capital = Assets - Liabilities

= $494,000 ($659,000 - $165,000)

<h3>20Y2:</h3>

Assets = $747,000 ($659,000 + $88,000)

Liabilities = $192,000 ($165,000 + $27,000)

Capital = $555,000 ($747,000 - $192,000)

<h3>Question C:</h3>

Assets = $508,000 ($659,000 - $151,000)

Liabilities = $178,000 ($165,000 + $13,000)

Capital = $330,000 ($508,000 - $178,000)

<h3>Question d:</h3>

Assets = $821,000 ($659,000 + $162,000)

Liabilities = $149,000 ($165,000 - $16,000)

Capital = $672,000 ($821,000 - $149,000)

<h3>Question Completion:</h3>

a. Penny Lyman, capital, as of December 31, 20Y1. $

b. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $88,000 and liabilities increased by $27,000 during 20Y2. $

c. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets decreased by $151,000 and liabilities increased by $13,000 during 20Y2. $

d. Penny Lyman, capital, as of December 31, 20Y2, assuming that assets increased by $152,000 and liabilities decreased by $16,000 during 20Y2.

e. Net income (or net loss) during 20Y2, assuming that as of December 31, 20Y2, assets were $782,000, liabilities were $196,000, and there were no additional investments or withdrawals.

Learn more about the accounting equation here: brainly.com/question/24401217

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Answer:

A. It will stay the same.

Explanation:

The formula to compute the dividend yield is shown below:

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Since in the question, it is given that the expected dividend is growing at the constant growth rate i.e 6.50%, so the expected dividend yield will remain the same in the future.  

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Pricing Strategy, Sales Variances Eastman, Inc., manufactures and sells three products: R, S, and T. In January, Eastman, Inc.,
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Answer:

Check the explanation

Explanation:

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Sales volume variance = (Actual units - Budgeted units) * Standard price

Product R : (120000 - 123000) * 26 = $78000 favorable

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An investor company owns 30% of the common stock of an investee company. The investor has significant influence over the investe
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Income for investee during the year ended December 31th 2019: $ 17,200

Explanation:

Purchase value                                       525,000

Equity proportion: 1,500,000  30% =    (450,000)

                           Goodwill                         75,000

Transactions during the year:

income 60,000 x 30% =  18,000

dividends 15,000 x 30% = (4,500)

unrealized profit 2018:

30,000 = cost (1.25)

30,000 / 1.25 = 24,000

gross profit 6,000

unrealized gain: 6,000 x 30% = (1,800)

unrealized profit 2019:

40,000 = cost (1.25)

40,000/1.25 = cost

cost = 32,000

gross profit: 40,000 - 32,000 = 8,000

proportion of unrealized gain:

                   8,000 x 30% =      (2,400)

profit for 2018 realized              1,800

                    net adjustment        600

<u></u>

<u>income from investee:</u>

18,000 - 600 (net unrealized gain) = 17,200

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which theory of economics believes the only way to increase economy growth is to remove regulations and lower taxes?
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