Answer:
Items reported in the balance sheet are:
3. a, c, e, f, and h
Explanation:
a) Data and Selection:
a. Cash
b. Sales
c. Long-term debt
d. Wage expense
e. Wages payable
f. Retained earnings
g. Net income
h. Inventory
i. Cost of goods sold
a. Cash
c. Long-term debt
e. Wages payable
f. Retained earnings
h. Inventory
b) Items reported in the balance sheet are items that are assets, liabilities, or equities. These items are permanent items, which have their balances taken to the next accounting period. Non balance sheet items are reported in the income statement. They are closing or temporary items that do not have balances taken to the next period.
Answer:
$315,600
Explanation:
Ownership = 40%
Investment = $182,000
Share of dividends = 40%*21,000 =8400
Share of income = 40%*75000 = 30000
Increase in share price = $21-$13= $8
investment
Dr Cr
Investment $182,000
Dividend received $8400
Income received $30,000
Increase in share price $112,000
324,000 315,600
Answer:
a. franchisee
Explanation:
Franchisee -
A franchises referred to a small business , and is very common method of doing any business .
The owner of the business i.e. , franchises , is referred to as the franchisee .
The franchisee has the right to take decision of the business like , using trademark of the business , proprietary knowledge , sell the brand and associated brands .
They are responsible to pay the franchise fee.
Hence , from the given statement of the question,
The correct option is a. franchisee .
Answer:
Establishment of the national bank
- Eventually issued paper money, handled tax receipts and other government funds.
Explanation:
The adoption of Hamilton's debt plan impacted financial solvency the most because in this plan Hamilton proposed to pay off the foreign debt and to issue new bonds to cover the old ones. He also proposed that the federal government would assume all state debt, giving creditors an incentive to support the new government and he proposed a National Bank.
Answer:
The balance in the accumulated depreciation account at the end of the second year is $146,000.
Explanation:
Straight line method charges a <u>fixed depreciation charge</u> on the asset during its period of use.
Depreciation Expense (Straight line) = Cost - Residual Amount ÷ Estimated Useful life
= $778,000 - $48,000 ÷ 10
= $73,000
Therefore, for each year, a depreciation expense of $73,000 is charged to profit an loss.
Accumulated Depreciation Calculation :
Depreciation Expense : Year 1 $73,000
Depreciation Expense : Year 2 $73,000
Total Expense $146,000
