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yan [13]
3 years ago
5

A company's balance sheet shows: Cash $36,000, Accounts receivable $23,000, Office equipment $57,000, and Accounts payable $24,0

00. What is the amount of total equity
Business
1 answer:
rjkz [21]3 years ago
3 0

The amount of total equity $92,000

<h3>What is equity?</h3>

Equity is the value left in a company's position, after deducting total liabilities from its total assets.

Equity is computed as :

= Assets - Liabilities

Assets = $23,000 + $57,000 + $36,000

Assets = $116,000

Liabilities = $24,000

Equity = $116,000 - $24,000

Equity = $92,000

Therefore, the amount of total equity is $92,000

Read more here about total equity : brainly.com/question/14032844

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Exercise 21-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Me
Molodets [167]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Actual direct materials used 16,000 lbs. at $4.05 per lb.

Actual units produced 30,000

Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound.

To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (4 - 4.05)*16,000

Direct material price variance= $800 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Standard quantity= 30,000*0.5= 15,000

Direct material quantity variance= (15,000 - 16,000)*4

Direct material quantity variance= $4,000 unfavorable

6 0
3 years ago
Read 2 more answers
Cala manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. the nego
Andre45 [30]
Given:
280,000 for the land
110,000 for the old bldg
33,500 to tear down old bldg
47,000 to fill and level the land
1,452,000 new bldg
87,800 for lighting and paving a parking area for the new bldg.

Entries:                                    Debit                         Credit
Land                                      470,500
           Cash                                                              470,500
(280,000 + 110,000 + 33,500 + 47,000 = 470,500) 

Building                                   1,452,000
          Cash                                                         1,452,000

Land Improvement                        87,800
           Cash                                                             87,800

Expenses incurred in preparing the land for its purpose is classified under the land account. Land does not depreciate because its useful life is unidentified.

Land improvement account is used for expenses incurred to add functionality to the land and these output has useful life and is depreciated. 




8 0
3 years ago
Read 2 more answers
If Company A has a lower debt ratio than Company B, then Company A is likely to have __________ than Company B.
kondaur [170]

Answer:

b. a greater ability to borrow

5 0
3 years ago
Police policies and practices have also undergone a transformation in order to adapt to the economic changes brought about by th
kupik [55]

Answer:

E. all of the above are examples of this adaptation.

Explanation:

Based on the information and answers provided it can be said that all of the above are examples of this adaptation. All of these cut backs were done in order to save money for more important aspects within the police policies and practices. While expanded use of technology systems and joint forces with other county governments were done in order to facilitate the jobs and cut down on time needed for certain practices which in term saved money.

7 0
3 years ago
Direct Materials Used, Cost of Goods Manufactured In September, Lauren Ashley Company purchased materials costing $200,000 and i
kirill115 [55]

Answer:

(a) $190,000

(b) $635,000

(c) $625,000

Explanation:

(a) Cost of material Consumed:

= Opening Stock of material + Purchases - Closing Material

= $1,20,000 + $200,000 - $130,000

= $190,000

(b) Total Manufacturing cost:

= Direct Material + Direct labor + Overhead

= $190,000 + $120,000 + $325,000

= $635,000

(c) Cost of goods manufactured:

= Total Manufacturing cost + Work in progress Beginning -  Work in progress End

= $635,000 + 80,000 - 90,000

= $625,000

8 0
3 years ago
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