What are all of the private loans that people have that aren't secured by real estate?

Rice Co. was incorporated on January 1, Year 6, with $500,000 from the issuance of stock and borrowed funds of $75,000. During t

Mkey [24]

Answer:

B) $617,000

Explanation:

Issuance capital of 500,000 shall remain constant. Out of the current year net earnings 25000 we are paying 2000 as dividend so, that adds to the owners equity = 23000.

Total liabilities = total assets = 500000 + 23000 + 94000 = 617000

8 0

2 years ago

Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for De

Dvinal [7]

Answer:

Equivalent units

a) Weighted average = 523,200 units

b) FIFO = 480,000 units

Explanation:

FIFO Method.

Fully worked units: These represent units of inventory that were started in a current period and completed that same period. The fully worked units are calculated in order to separate the opening inventory from the the newly introduced when accounting for completed units under the FIFO.

For magic company , fully worked units is

= 480,000 - 72,000 = 408,000 units

Equivalent units using Weighted Average

Here, there are no distinction between opening inventory and the newly introduced.

Equivalent Units

Completed unit (100%× 480,000) = 480,000

Closing inventory (60% × 72,000) = 43,200

Total equivalent units 523,200

Equivalent Units using FIFO

Item Equivalent Units

Opening inventory (40% × 72,000) = 28,800

Fully worked (100%× 408,00) = 408,000

Closing inventory (60% × 72,000) = 43,200

Total equivalent units 480,000 

Equivalent units

a) Weighted average = 523,200 units

b) FIFO = 480,000 units

8 0

2 years ago

Producer surplus equals a. Value to buyers - Costs of sellers. b. Amount received by sellers - Costs of sellers. c. Value to buy

aev [14]

Answer:

Amount received by sellers - Costs of sellers.

Explanation:

Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.

Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.

Consumer surplus = Value to buyers - Amount paid by buyers.

I hope my answer helps you

5 0

2 years ago

_____ advertising is done by local merchants to encourage consumers to shop at a specific store, use a local service, or patroni

ololo11 [35]

Answer:

The correct answer is letter "D": Retail.

Explanation:

Retail advertising is developed by retailers to attract consumers to their local stores. This type of marketing may not be necessarily focused on the product features but how they are sold, meaning in bundles or at discount. It is the final merchandising made to products before they reach end-consumers.

8 0

2 years ago

The following information is available for Splish Brothers Corp. for the year ended December 31, 2022. Other revenues and gains

Readme [11.4K]

Answer:

Net Income 195,300

Explanation:

The question is to prepare a multi-step income statement

Splish Brothres Corp

Income Statement for the year ended December 31, 2022

Particulars/Description Amount ($) Amount ($)

Sales Calculation

Sales Revenue 747,000

Subtract:

Sales Returns 9,000

Sales discounts 3,200 (12,200)

Net Sales 734,800

Cost of Goods sold (283,000)

Gross Profit 451,800

Operating Expenses (210,000)

Operational Income 241,800

Other gains and revenue 21,800

Other Expenses and losses (3,200) 18,600

Income before Income Taxes 260,400

Income tax expense (25% x 260,400) (65,100)

Net Income 195,300

4 0

2 years ago