Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '-', equity. Common Accounts Receivable Cash Dividends Revenues Expenses Assets Stock Unearned Revenues Accounts Liabilities Payable 2 Enter the missing value to balance the equation. E25,000 38,000 38,000 35,000. 28,000 22,000 30,000-48,000 +31,000 2,000 - 39,000 32.000 25,000 31.000 39,000 3 Identify the part of the expanded accounting equation for each account title. Prepaid Insurance Common Stock Dividends Insurance Expense Accounts Payable Service Revenue 4 Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Credit Debit Normal Balance Accounts Receivable Dividends Common Stock + + + + Insurance Expense Rent Payable Interest Revenue + + + + + + Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Liabilities Assets Beginning of Year: $27,000 $15,000 End of Year: $60.000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Ending Equity Beginning Equity 3) If the company issues common stock of $6,300 and pay dividends of $37,300, how much is net income (loss)? 4) If net income is $1,100 and dividends are $6,000, how much is common stock? Net Income (Loss) Common Stock 5) If the company issues common stock of $19,600 and net income is $19,100, how much is dividends? 6) If the company issues common stock of $42,900 and pay dividends of $3,400, how much is net income (loss)? Dividends Net Income (Loss)

Answers

Answer 1
Answer:

The answers for the subdivisions are given below and are explained. Explanation:

1)

it consists of a table refer the attachment

it has the list of asserts, liabilities and common stock

2)

(i) 32000

(ii) 11000

(iii) 38000

3)

The table in attached, it explains the prepaid expenses , common stock , dividends , insurance expenses ,  Insurance expenses, Accounts payable, service revenue.

4)

Refer the tables are attached it explains the Accounts receivable, common stock, rent payable. insurance expense , interest revenue and dividends.

5)

1.Equity at the beginning of the year = 27000 - 15000 = 8000

2. Equity at the end of the year 60,000 - 27,000 = 33000

3. Increase in equity = 33000 - 8000 = 25000

Net Income = 25000 + 37300 - 6300 = 56000  

4. Common stock = 25000 + 6000 - 1100 = 29900  

5. Dividends = 19600 + 19100 - 25000 = 13700

6. Net Income = 25000 + 42900 - 3400 = 64500


Related Questions

The following information pertains to Lightning Inc., at the end of the year:Credit Sales $75,000 Accounts Payable 13,900 Accounts Receivable 8,200 Allowance for Uncollectible Accounts $900 creditCash Sales 24,000 Lightning uses the percentage-of-credit-sales method and estimates 4% of sales are uncollectible. What is the ending balance of the allowance account after the year-end adjustment?$3,900$4,860$3,000$2,100
If the CPI was 104 in 1967 and is 390 today, then $10 in 1967 purchased the same amount of goods and services as Group of answer choices $37.50 purchases today. $2.67 purchases today. $39.00 purchases today. $104.00 purchases today. None of the options is correct.
Equivalent Units of Conversion Costs The Filling Department of Eve Cosmetics Company had 4,000 ounces in beginning work in process inventory (60% complete). During the period, 46,000 ounces were completed. The ending work in process inventory was 8,000 ounces (25% complete).What are the total equivalent units for conversion costs? If required, round to the nearest unit.
The security market line shows the relationship between A. Expected return and standard deviation B. Expected return and beta C. Standard deviation and beta D. Correlation and standard deviation E. Systematic risk and unsystematic risk
Constant cost industries: a. use large portions of the total supply of specialized resources. b. significantly increase the demand for inputs when expanding output, and as a result, input prices risec. do not use inputs in sufficient quantities that a change in industry output would affect the prices of the inputs. d. are those in which the cost curves of individual firms shift upwards as industry output expands.

Buerhle Company needs to determine if its indefinite-life intangibles other than goodwill have been impaired and should be reduced or written off on its balance sheet. The impairment test(s) to be used is (are) ______________. A. Both recoverability test and fair value test
B. Recoverability test but not fair value test
C. Not recoverability test but fair value test
D. Neither recoverability test nor fair value test

Answers

Answer: The correct answer is "C. Not recoverability test but fair value test".

Explanation: The impairment test to be used is Not recoverability test but fair value test. To determine whether intangibles of indefinite life have deteriorated and must present another value in their balance sheet, they must implement the fair value test.

Place a checkmark next to each argument that supports abolishing the Federal Reserve Bank.The Fed increases inflation.

Changing the U.S. currency system could destabilize the economy.

The Federal Reserve helps stimulate economic growth during depressions and recessions.

The Fed worsens economic depressions.

Poor management by the Fed has led to two major financial crises in the U.S. in the last 100 years.

The Federal Reserve is best equipped to supervise large firms and banks.

A more independent financial market is generally healthier and more stable.

The Fed does not have the knowledge necessary to make good decisions about interest rates.

Answers

The Federal Reserve uses its policy tools to carry out monetary policy, which largely affects employment and inflation. Yet regardless of how it may sound, it usually comes down to changing the amount of money available in the market to produce a particular level of inflation.

How does the economy fare once the Fed raises interest rates?

The Fed increases interest rates to reduce aggregate demand and slow the flow of money through the economy. Higher interest rates will result in less demand for products and services, which should result in reduced prices for those things and services.

How does the Fed respond to rising inflation?

She warned before of the Fed meeting that it would continue to rapidly hike rates if inflation remained stubbornly high. According to this scenario, housing prices could increase to 8% or more in the latter part of 2022 and the beginning of 2023.

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The Miller Company earned $133,000 of revenue on account during Year 2. There was no beginning balance in the accounts receivable and allowance accounts. During Year 2, Miller collected $87,000 of cash from its receivables accounts. The company estimates that it will be unable to collect 3% of its sales on account. The net realizable value of Miller's receivables at the end of Year 2 was:

Answers

Answer:

The net realizable value of Miller's receivables at the end of Year 2 was:  $42,010

Explanation:

Open a Trade Receivable Account as follows :

Debits :

Revenue $133,000

Totals      $133,000

Credits:

Cash        $87,000

Balance   $46,000

Totals      $133,000

Note that Allowance for Doubtful debts is estimated at 3% of the Company`s Sales on Account

Allowance for Doubtful debts = $133,000 × 3%

                                                 = $ 3, 990

Net realizable value of Miller's receivables

Trade Receivable Balance                $46,000

Less Allowance for Doubtful Debts    $3,990

Trade Receivables                              $42,010

Final answer:

The net realizable value of Miller Company's receivables at the end of Year 2 is calculated by estimating bad debt and subtracting it from the ending accounts receivable. The estimated bad debt is 3% of sales, leading to a net realizable value of $42,010.

Explanation:

The question revolves around calculating the net realizable value of accounts receivable for the Miller Company at the end of Year 2. First, we need to calculate the estimated bad debt. The company estimates that 3% of its sales on account will be uncollectible, which equates to $133,000 * 0.03 = $3,990. After subtracting the cash collected from receivables, $133,000 - $87,000, we get ending accounts receivable of $46,000. Finally, we deduct the estimated bad debts from ending accounts receivable to obtain the net realizable value, which is $46,000 - $3,990 = $42,010.

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Calculate the annual cash flows of a $100,000, 10-year fixed-payment deferred annuity earning a guaranteed 3.6 percent per year if annual payments are to begin at the end of year 4 (beginning of year 5). (Hint: Grow the original investment for 4 years and then all payments are paid at the beginning of the year.)

Answers

Answer:

$13,437.53

Explanation:

Calculation for the annual cash flows

First step is to calculate the value of annuity after 3 years from today

Using this formula

Value of annuity = Present value*(1+Rate)^Time

Let plug in the formula

Value of annuity = $100,000*(1 +0.036)^3

Value of annuity = $100,000*1.111934656

Value of annuity = $111,193.4656

Second step is to calculate the present value annuity factor

Using this formula

PVIFA = [1 – (1 + Rate)-Number of periods]/ Rate

Let plug in the formula

PVIFA = [1 – (1 + 0.036)-10]/ 3.6%

PVIFA = 8.27484404349

Last step is to calculate the annual cash flows

Using this formula

Annual cash flows = Value of annuity/ Present value annuity factor

Let plug in the formula

Annual cash flows = $111,193.4656/ 8.27484404349

Annual cash flows = $13,437.53

Therefore the annual cash flows will be

$13,437.53

Followers of the efficient market hypothesis believe thatA) very few investors actually analyze or evaluate stocks before they make a purchase decision.B) the needed information to assess the market is available only to corporate insiders.C) investors react quickly and accurately to new information.D) individual traders can have a significant impact on the price of a security.

Answers

Answer: Followers of the efficient market hypothesis believe that "C) investors react quickly and accurately to new information.".

Explanation: The efficient market hypothesis states that the current price of an asset in the market reflects all available information that exists (historical, public and private). It considers that any news or future event that may affect the price of an asset, will make the price adjust so quickly, that it is impossible to obtain an economic benefit from it.

This adjustment happens so fast because investors act quickly and accurately in the face of new information.

After a few years of work in the marketing department of a small firm, you are placed in charge of the firm's inbound marketing. What are you most likely to be in charge of? Group of answer choices

Answers

Answer:

Ensure that customers can find the firm when they search for information on products and services.

Explanation:

Inbound marketing involves attracting customers to a business's products and services by improved customer service and building trust.

Various channels that can be used for inbound marketing are social media, content marketing, search engine optimisation, and branding.

Outbound marketing on the other hand involves pushing out of various products an services to customers via various channels.

Steps in inbound marketing are:

Define the customer

Understanding customer purchase cycles

Establish potential customer

Build loyalty

Use customer relationship management (CRM)

Content management

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