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2 years ago

Below are the transactions and adjustments that occurred during the first year of operations at Kissick Co

Business

1 answer:

Karolina [17]2 years ago

7 0

Answer:

Income Statement Sales 9,00,000 Cost of goods sold 5,80,000 Gross profit 3,20,000 Salaries expense 3,90,000 Rent expense 2,40,000 Utilities expense 38,000 Loss from operations -3,48,000 Interest expense -59,400 Net loss -4,07,400 KI

Explanation:

<em>Purchased $190,000 of store equipment, paying $51,000 in cash and agreeing to Paid the entire $139,000 owed for store equipment and $600,000 of the amount due to suppliers for credit purchases previously recorded. pay the difference within 90 days. that make it a way to create sales.</em>

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1. A company issues new stock with a fair value of $120,000 to acquire 85% of the stock of another company. The fair value of th

Delicious77 [7]

Answer:

A. $10,500

Explanation:

FV of IDNA:

Book value $ 15,000

Revalued plant assets ($25,000)

license agreements $30,000

Intangible assets $50,000

$ 70,000

Non-controlling interest valued at the date of acquisition, following the alternative method allowed by IFRS = 15% * 70,000 = $10,500.

4 0

2 years ago

A stock has a correlation with the market of 0.49. The standard deviation of the market is 25%, and the standard deviation of th

olasank [31]

Answer:

Stock's beta = 0.65 (Approx)

Explanation:

Given:

Correlation = 0.49

Standard deviation of stock (SDs) = 33% = 0.33

Standard deviation of market (SDm) = 25% = 0.25

Find:

Stock's beta

Computation:

Stock's beta = Correlation(SDs) / SDm

Stock's beta = 0.49 (0.33) / 0.25

Stock's beta = 0.65 (Approx)

4 0

2 years ago

How can a renter reduce the amount of money he or she spends on monthly

DIA [1.3K]

Answer:

Option C.

Explanation:

From the options given above, the correct way a renter can reduce their rent it to get a roommate or roommate. Getting just one roommate can help to reduce your basic living expenses by 30%.

This is achievable because various costs like rent, utilities, and even groceries can be shared among the roommates.

The only downside to this method is the lack of privacy that comes with having roommates. But in general, having roommates is a sure way for renters to spend less, or live in a nicer location.

4 0

2 years ago

The cost system best suited to industries that manufacture a large number of identical units of commodities on a continuous basi

ValentinkaMS [17]

Answer:

Process Costing

Explanation:

Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.

7 0

3 years ago

Summary financial information for Paragon Company is as follows. Dec. 31, 2014 Dec. 31, 2013 Current assets $ 203,600 $ 254,000

beks73 [17]

Answer:

Current assets:

Amount = 2014 value - 2013 value

= $203,600 - $254,000

= -($50,400) (Negative)

percentage changes = $\frac{Amount}{2013\ value}\times100$

= $\frac{50,400}{254,000}\times100$

= (19.84)%

Plant assets:

Amount = 2014 value - 2013 value

= $1,397,000 - $831,700

= $565,300

percentage changes = $\frac{Amount}{2013\ value}\times100$

= $\frac{565,300}{831,700}\times100$

= 67.96%

Total assets:

Amount = 2014 value - 2013 value

= $1,600,600 - $1,085,700

= $514,900

percentage changes = $\frac{Amount}{2013\ value}\times100$

= $\frac{514,900}{1,085,700}\times100$

= 47.42%

6 0

2 years ago