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2 years ago

On December 31, Hawkin's records show the following accounts.

Business

1 answer:

quester [9]2 years ago

8 0

Preparation of statement of owner's equity for Hawkin for the month ended December 31.

<h3>What is owner's equity?</h3>

Owner's equity is the amount of money that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debt was paid off in the case of liquidation.

Owner's Equity = Assets – Liabilities

Assets

Cash $ 8,300

Accounts Receivable 1,100

Supplies $2,800

Equipment 15,100

Total Assets $27,300

Liabilities

Accounts Payable 7,600

Withdrawals 2,100

Total liabilities ($9,700)

Owner's equity $17,600

Learn more about owner's equity here : brainly.com/question/11110287

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In margin buying you borrow shares to sell now and buy back the shares later and return those. True or False

kotegsom [21]

Answer:

False

Explanation:

When you buy on margin you are borrowing money from your broker in order to purchase securities. The advantage of buying on margin is that you can purchasing a larger amount of stocks, but that also increases the risk of your investment as well as the potential returns.

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2 years ago

In 2–3 sentences, describe how you would conduct a search for a single record.

boyakko [2]

There are several ways you can find a record. The easiest way is by using the find command. You can do this by pressing the combination keys Control + F. You will then see a mini search box in the top right corner of your screen. Lastly, type in the word, phrase, or record that you want to find. You will then be directed to several highlighted words, and TADA! :D

Hope this helps :)

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3 years ago

Having a low credit score can make it more difficult to: a obtain a car loan b open a new credit card c secure an apartment leas

lys-0071 [83]

I think the correct answer from the choices listed above is option D. Having a low credit score can make it more difficult to obtain a car loan, open a new credit card and secure an apartment lease. A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of the person. Hope this answers the question. Have a nice day.

7 0

3 years ago

An individual consumes products X and Y and spends $36 per time period. The prices of the two goods are $3 per unit for X and $2

vekshin1

Answer:

a) 3X + 2Y = 36

b) X = 6 , Y = 9

c) 27

Explanation:

Individual consumes : X and Y

Spends : $36 per time period

unit cost : $3 per unit for X

$2 per unit for Y

utility function : U( X, Y ) = .5XY

A) Budget equation mathematically

X* Px + Y* Py = M

3X + 2Y = 36

Px and Py = unit cost for X and Y

M = Total spent ( revenue )

b) Values of X and Y that will maximize utility

Maximum utility ( MRS ) = Px / Py ,

MRS = MUx / MUy

= Y/X = 3/2

∴ 2Y = 3X

From BC : 6X = 36 ( X = 6 plug into mathematically equation above )

∴ X = 6 , hence Y = 9

c) Total utility generated per unit of time

U( X,Y ) = .5XY

= 0.5 * 6 * 9 = 27

6 0

2 years ago

Kingbird Industries had one patent recorded on its books as of January 1, 2020. This patent had a book value of $249,600 and a r

dimulka [17.4K]

Answer:

The amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.

Explanation:

This can be calculated as follows:

Patent book value = $249,600

Remaining useful years January 1, 2020 = 8

Remaining useful months of the patents from January 1, 2020 = Remaining useful years January 1, 2020 * 12 8 * 12 = 96

Monthly Patent book value = Patent book value / Remaining useful months = $249,600 = $2,600

Patent book value amortized from January 1, 2020 to December 1, 2020 = Monthly Patent book value * 12 = $2,600 * 12 = $31,200

Legal fee incurred = $93,500

Number of months from January 1, 2020 to December 1, 2020 = 11

Relevant months of legal fee incurred starting from December 1, 2020 = Remaining useful months of the patents from January 1, 2020 - Number of months from January 1, 2020 to December 1, 2020 = 96 - 11 = 85

Monthly legal fee = Legal fee incurred / Relevant months of legal fee incurred starting from December 1, 2020 = $93,500 / 85 = $1,100

Amount to report = Patent book value amortized from January 1, 2020 to December 1, 2020 + Monthly legal fee for December 1, 2020 only = $31,200 + $1,100 = $32,300

Therefore, the amount patent(s) should be reported on the December 31, 2020, balance sheet, assuming monthly amortization of patents, is $32,300.

3 0

2 years ago