Match each account name to the financial statement section (a-i)
Question Match each account name to the financial statement section (a-i) in which it would appear. />Accumulated Depreciation—Buildings [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Depreciation Expense [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Amortization Expense [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Land Improvements [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Gain on Sale of Equipment [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Loss on Disposal of Asset [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Loss from Impaired Goodwill [ Choose ] Owner’s equity Fixed assets Current liability Intangible assets Revenues Other revenue and expense Current assets Operating expenses Long-term liability Research and Development Costs
Compute the nominal annual rate of interest for the following
Question Compute the nominal annual rate of interest for the following ordinary simple annuity Future Value: $5200Periodic Rent: $517Pmt Interval: 1 yearTerm: 8 yrsConversion Period: Annually
src=”/qa/attachment/9280959/” alt=”67810904_444229859764444_4847292982094725120_n.jpg” />Post transactions from August 1 through December 31
Question src=”/qa/attachment/9280959/” alt=”67810904_444229859764444_4847292982094725120_n.jpg” />Post transactions from August 1 through December 31 and adjusting entries on December 31 to T-accounts Attachment 1 Attachment 2 Attachment 3 Attachment 4 ATTACHMENT PREVIEW Download attachment 67686490_520959761977584_7861214203921563648_n.jpg Beg. Bal. Beg. Bal End. Bal. 0 End. Bal. 0 Legal Fees Expense Miscellaneous Expense Beg. Bal Beg. Bal. End. Bal. 0 End. Bal. 0 Salaries Expense Depreciation Expense Beg. Bal. Beg. Bal. End. Bal End. Bal. Insurance Expense Rent Expense Beg. Bal. Beg. Bal. End. Bal 0 End. Bal Supplies Expense (Office) Supplies Expense (Racing) Beg. Bal Beg. Bal. End. Bal 0 End. Bal Interest Expense ncome Tax Expense Beg. Bal. Beg. Ball End. Bal End. Bal 0 ATTACHMENT PREVIEW Download attachment 67810904_444229859764444_4847292982094725120_n.jpg Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Equipment (Kayaks) Accumulated Depreciation Beg. Bal. Beg. Bal. End. Bal End. Bal. 0 Accounts Payable Deferred Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Interest Payable Income Tax Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal Notes Payable Common Stock Beg. Bal. Beg. Bal End. Bal o End. Bal O Dividends Service Revenue (Clinic) Beg. Bal Beg. Bal. End. Bal. ATTACHMENT PREVIEW Download attachment 67946509_1082923295237217_7590750591349948416_n.jpg Assume the following ending balances for the month of July. Balance Cash $ 23,930 Prepaid insurance 4.680 Supplies (Office) 1,600 Equipment (Bikes) 16.700 Accounts payable 1,600 Deferred revenue 6,500 Common stock 37,000 Service revenue (Clinic) 3,900 Advertising expense 990 Legal fees expense 1,100 Award: 2.22 points 3. Post transactions from August 1 through December 31 and adjusting entries on December 31 to T-accounts. (Be sure to include beginning balances in the T-accounts.) Cash Prepaid Insurance Beg. Bal. 23,930 Beg. Bal. 4,680 Aug. 45,000 21,000 Aug. 4 Aug. 10 3,600 1,600 Aug. 24 Aug. 17 10,600 4,440 Sep. End. Bal. 4,680 Sep. 21 13,300 1,500 Dec. 8 Oct. 17 9,400 2,400 Dec. 16 Dec. 15 20,800 3,200 Dec. 31 End. Bal 102,490 Prepaid Rent Supplies (Office) Beg. Bal Beg Bal Sep. 1 4,440 End. Bal 4,440 End Bal Supplies (Racing) Equipment (Bikes) Beg Bal Beg BalRead more ATTACHMENT PREVIEW Download attachment 68861460_421524405114824_6616270065765449728_n.jpg [The following information applies to the questions displayed below] On July 1, 2018, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The following transactions occur from August 1 through December 31. Also, the balances are provided for the month ended July 31. The articles of incorporation state that the corporation will sell 37,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following business activities occur during July for Great Adventures. Jul. 1 Sell $18,500 of common stock to Suzie. Jul. 1 Sell $18,500 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,680 ($390 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,100 associated with incorporation. Jul. 4 Purchase office supplies of $1,600 on account. Jul. 7 Pay for advertising of $290 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $30 the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $16,700 cash. Jul. 15 On the day of the clinic, Great Adventures receives cash of $1,800 from 60 bikers. Tony conducts the mountain biking clinic. Jul. 22 Because of the success of the first mountain biking clinic, Tony holds another mountain biking clinic and the company receives $2,100. Jul. 24 Pay for advertising of $700 to a local radio station for a kayaking clinic to be held on August 10. Attendees can pay $130 in advance or $180 on the day of the clinic. Jul. 30 Great Adventures receives cash of $6,500 in advance from 50 kayakers for the upcoming kayak clinic. Aug. 1 Great Adventures obtains a $45,000 low-interest loan for the company from the city council, which has recently passed an initiative encouraging business development related to outdoor activities. The loan is due in three years, and 6% annual interest is due each year on July 31. Aug. 4 The company purchases 14 kayaks, paying $21,000 cash. Aug. 10 Twenty additional kayakers pay $3,600 ($180 each), in addition to the $6,500 that was paid in advance on July 30, on the day of the clinic. Tony conducts the first kayak clinic. Aug. 17 Tony conducts a second kayak clinic, and the company receives $10,600 cash. Aug. 24 Office supplies of $1,600 purchased on July 4 are paid in full. Sep. 1 To provide better storage of mountain bikes and kayaks when not in use, the company rents a storage shed, purchasing a one-year rental policy for $4,440 ($370 per month). Sep. 21 Tony conducts a rock-climbing clinic. The company receives $13,300 cash. Oct 17 Tony conducts an orienteering clinic. Participants practice how to understand a topographical map, read an altimeter, use a compass, and orient through heavily wooded areas. The company receives $19,400 cash. Dec. 1 Tony decides to hold the company’s first adventure race on December 15. Four-person teams will race from checkpoint to checkpoint using a combination of mountain biking, kayaking, orienteering, trail running, and rock- climbing skills. The first team in each category to complete all checkpoints in order wins. The entry fee for each team is $520.Dec. 5 To help organize and promote the race, Tony hires his college roommate, Victor. Victor will be paid $60 in salary for each team that competes in the race. His salary will be paid after the race. Dec. 8 The company pays $1,500 to purchase a permit from a state park where the race will be held. The amount is recorded as a miscellaneous expense.Dec. 12 The company purchases racing supplies for $2,400 on account due in 30 days. Supplies include trophies for the top-finishing teams in each category, promotional shirts, snack foods and drinks for participants, and field markers to prepare the racecourse. Dec. 15 The company receives $20,800 cash from a total of forty teams, and the race is held. Dec. 16 The company pays Victor’s salary of $2,400. Dec. 31 The company pays a dividend of $3,200 ($1,600 to Tony and $1,600 to Suzie). Dec. 31 Using his personal money, Tony purchases a diamond ring for $5,200. Tony surprises Suzie by proposing that they get married. Suzie accepts and they get married! The following information relates to year-end adjusting entries as of December 31, 2018. . Depreciation of the mountain bikes purchased on July 8 and kayaks purchased on August 4 totals $7,700. . Six months’ worth of insurance has expired. . Four months’ worth of rent has expired. d. Of the $1,600 of office supplies purchased on July 4, $250 remains. e. Interest expense on the $45,000 loan obtained from the city council on August 1 should be recorded. f. Of the $2,400 of racing supplies purchased on December 12, $220 remains. g. Suzie calculates that the company owes $13,200 in income taxes. Assume the following ending balances for the month of July. DELLRead more
Can you help me on this one with latest Walmart
Question Can you help me on this one with latest Walmart information?Create a 5- to 10-slide presentation and use the same domestic publicly traded company selected in Week 2 to address the following:
CircuitTown commenced a gift card program in January 2018 and
Question CircuitTown commenced a gift card program in January 2018 and sold $13,000 of gift cards in January, $16,800 in February, and $20,100 in March of 2018 before discontinuing further gift card sales. During 2018, gift card redemptions were $8,450 for the January gift cards sold, $4,550 for the February cards, and $6,550 for the March cards. CircuitTown considers gift cards to be “broken” (not redeemable) 10 months after sale. Required:1. How much revenue will CircuitTown recognize with respect to January gift card sales during 2018?2. Prepare journal entries to record the sale of January gift cards, redemption of gift cards (ignore sales tax), and breakage (expiration) of gift cards.3. How much revenue will CircuitTown recognize with respect to March gift card sales during 2018?4. What liability for deferred revenue associated with gift card sales would CircuitTown show as of December 31, 2018?
Companies want to keep inventory on hand to avoid all
Question Companies want to keep inventory on hand to avoid all of the following except:A.customer dissatisfactionB.reduced customer wait times
the following in a minimum of 100 words:
Respond to the following in a minimum of 175 words: -Provide a specific aspect in the theories of Adler, Horney, and Erickson that differs from Freud’s theories. How are the theories of Adler, Horney, and Erickson similar to one another? Based on this week’s readings, which theory do you think is best at explaining personality? Demarcus Townes Respond to the following in a minimum of 100 words: Dealing with the aspects of Alder, Erickson, and Horney, and what differs from Freud in my eyes is that Alder’s theory develops a unique style of life and the uniqueness of a person. Alder’s view was people learned and understood from a social perspective and not a biological one. Freuds emphasis on sex was just a source of energy to Alder’s theory, and that any approach that does not consider the individual’s goals is incomplete and cannot provide effective therapy. Erickson’s theory; each stage of life has conflicts between a positive pole and negative pole and how well the conflicts may be resolved. Erickson took Freud’s stages and gave them longer life by emphasizing social aspects for each stage. Horney however feel as if the most important aspect of personality is the relationships we have with others. According to Horney, the most important conflicts are based on unresolved interpersonal issues. The personality differences between a man and a woman are contributed and influenced by society rather than by anatomy. I find them a little similar by going more in depth with the different stages of development. Alder, Erickson, and Horney their theories deal with the environmental and social influences as to Freuds did not. Giving more background to one’s personality bringing one’s character more to life. Which explained personality better? I feel Erickson and his stages explained it better, but Alder has a great point with being against pampering and giving into a child wishes but also against neglecting them. That is a key element into upbringing, you pamper a child or give into there needs they will tend to develop a very unhealthy and selfish ways. I try to tell my friend that now, she has a three year old; I do not tell her how to raise her child but I try to get her to understand that giving in to his wants just because he say so or because he cries is not healthy. I see what he does when she does not. If he wants some, he knows all he must do is cry long enough, and he get things without asking and so forth. But he only does with her because he knows he can get away with it. When he around me he a totally different child because he knows I do not go for it. I do not give him what he wants I give him what he needs and show him what he receives outside of his needs is a privilege. She tries to be more of his friend than his parent just so she does not have to listen to him cry. I try to stress how bad this can be and all I get is don’t tell me how to raise my child, but she sees how much her child listen to me than her.Respond to the following in a minimum of 100 words: Erickson and Freud difference is that Erickson theory expands past early childhood, whereas Freud ends at at early period. Also, Freud highlights the importance of biological forces and basic needs. Focusing on the development stages of growth, he find importance on monitoring the action plan is beneficial or not.Horney did not not agree with Freud theory that male and females were born with inherent differences in their personality. She believed that each individual has the potential for self-realization and that the goal of psychoanalysis should be moving toward a healthy self rather than exploring early childhood patterns of dysfunction. In addition, she supports that differences between men’s and women’s personalities are culturally based. There might be womb envy, because they cannot give birth. She do not feel women are jealous (have penis envy) of men due to their biological features. What she feels is essential is building successful relationships. In these relationships there is personality by way of love, acceptance, competition, aggression or isolation.Adler focuses on our drive to compensate for feelings of inferiority, which refers to a person’s feelings that they lack worth and don’t measure up to the standards of others or of society. He felt that feelings of inferiority in childhood are what drive people to attempt to gain superiority and that this striving is the force behind all of our thoughts, emotions, and behaviors. Therefore, your choices drive what and how you set your goals for success.Adler, Horney, and Erickson all deemphasized sex, focusing more on the social environment and effects of culture on personality past the early stages of life.Based on this week’s reading, I find Horney way of explaining personality to be best. Why? We do not function in society alone. Positive and negative relationships are developed daily. Everything else, I find to fall under this umbrella. You have to encounter a connection within two parties to measure and monitor personality.
am I correct with these answers? ATTACHMENT PREVIEW Download attachment
Question am I correct with these answers? ATTACHMENT PREVIEW Download attachment 67810925_904046233321950_6913773160345108480_n.jpg 3 GMG Studios plans to invest $56,000 at the end of each year for the next four years. There are three investment options available. Interest Period 2 Annual Rate Compounded Invested points Option 1 6% Annually 4 years 8 Skipped Option 2 Annually 4 years Option 3 12 Annually 4 years eBook Print Required: Determine the accumulated investment amount by the end of the fourth year for each of the options. (FV of $1, PV of $1, EVA of $1, and References PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.) Accumulated investment amount Option 1 $ 70,698.71 Option 2 76, 187.38 Option 3 88, 117.08
Can someone tell me with ignoring tax effects what are
Question Can someone tell me with ignoring tax effects what are the journal entries for A and B—–The following stockholders’ equity balances where in the general ledger at the beginning of 2020:Common Stock, $10 Par Value $400,000Paid-in Capital in excess of Par Common $600,000Paid-in Capital, Treasury Stock $5,000Paid-in Capital,, Stock Options $200,000Retained Earnings $1,200,000Treasury Stock (5,000 shares) (100,000) Total Stockholders’ Equality $2,305,000Paid-in capital from stock options relates to options granted on 1/1/12 to the CEO as compensation. At 1/1/20 the remaining expected benefit period is four years; expense has been and will be recorded evenly over the benefit period.A Jan. 2: purchased 5,000 shares of its common stock for $16 dollars per share. They use the cost method of accounting for treasury stock. B February 1:Declared and distributed a 10% stock dividend on common stock outstanding when the market price of the stock was $13 /share2020 final net income, including the effects of any net income items above (and the 2020 tax effects on net income items), was $1,000,000. 500,000 shares authorized for both preferred and common stock.
Prepare financial reports for corporate entities class=”ql-cursor”> Question:1 List and
Question Prepare financial reports for corporate entities class=”ql-cursor”>Question:1 List and describe 4 principles of corporate governance 2 Describe the following accounting principles Doctrine of ConsistencyDoctrine of Disclosure Doctrine of Materiality Doctrine of Conservatism 3 What does it mean to state that ethical behaviour includes being objective and independent? 4 What constitutes conflict of interest?5 Explain the term ‘Confidentiality’. What legislation covers this?6 Describe the key components and advantages of an integrated computerised accounting system7 What is the difference between cash and accrual accounting? 8 What is the difference between single and double entry accounting?9 Explain the difference between cash and accrual reporting for a business10 Answer the following questions in relation to the simplified depreciation rules that relate to small business entities -What accessing this concession means-What not accessing this concession means -How do you access this concession?11 Answer the following questions in relation to the immediate deduction for certain prepaid expenses rules that relate to small business entities-What accessing this concession means -What not accessing this concession means -How do you access this concession?12 What us the annual depreciation expense using straight-line depreciation, of a vehicle that depreciates over 5 years, was purchased at $17000, and will have a salvage value of $2000 – Students must show their working.14 What items should be included in the W1 label at the PAYG tax withheld section of you BAS statement? 15 Describe 8 tips you would give someone when who is presenting financial data to their employer for the first time.16 Explain the best purpose for each chart listed below Line Charts Bar Charts Pie Charts 17 Outline at least 1 reporting / payment obligation a company has for each month of the year. Month Reporting Obligation January February March April May June July August September October NovemberDecember18 Provide an overview of a company’s legal requirements relating to each of the following delegated authorities? Please note that this question is not asking about the legislation, but about a company’s responsibilities in relation to communication and reporting. Australian Taxation Office State Revenue Office State Work Cover AuthorityASIC19 Provide a brief explanation of the following taxation laws Wine equalisation tax Luxury car taxFuel tax 20 Describe the steps that are in most company budgeting procedures
src=”/qa/attachment/9283545/” alt=”Screen Shot 2019-08-07 at 7.06.19 PM.png” />HelloI need the
Question src=”/qa/attachment/9283545/” alt=”Screen Shot 2019-08-07 at 7.06.19 PM.png” />HelloI need the answers of average cost inventory and COGS please thank you Attachment 1 Attachment 2 ATTACHMENT PREVIEW Download attachment Screen Shot 2019-08-07 at 7.06.19 PM.png Problem 6-2A Ayayai Corp. markets CDs of numerous performing artists. At the beginning of March, Ayayai Corp. had in beginning Inventory 2,390 CDs with a unit cost of $7. During March, Ayayai Corp. made the following purchases of CDs. March 5 2,130 @ $8 March 21 4,650 @ $10 March 13 3,690 @ $9 March 26 2,140 @ $11 During March 12,280 units were sold. Ayayai Corp. uses a periodic inventory system. Your answer is correct. (a) Determine the cost of goods available for sale. The cost of goods available for sale 137020 (b) Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost 9.135 LINK TO TEXT VIDEO: SIMILAR PROBLEM ATTACHMENT PREVIEW Download attachment Screen Shot 2019-08-07 at 7.06.27 PM.png Your answer is partially correct. Try again. Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, IFO, and average-cost). (Round answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory 29340 19370 24834 * The cost of goods sold $ 107680 117650 112116 LINK TO TEXT VIDEO: SIMILAR PROBLEM
Your sister wants to open a store that sells antique-style
Question Your sister wants to open a store that sells antique-style jewelry and accessories. She has $14,300 of savings to invest, but opening the store will require an initial investment of $21,600. Net cash inflows will be −$2,400, −$1,100, and $0 in the first three months. As the store becomes better known, net cash inflows will become $800 in the fourth month and grow at a constant rate of 5 percent in the following months. You want to help your sister by providing the additional money that she needs. How much money do you have to invest each month to start and to keep the store operating with a minimum cash balance of $1,100?You will have to invest $ each month to start and to keep the store operating with a minimum cash balance of $1,100.You will then need to invest an additional $ during the first month to cover the cash flow.
Intermediate Accounting related to chapter 10 property. Plant and equipment.
Question Intermediate Accounting related to chapter 10 property. Plant and equipment. ATTACHMENT PREVIEW Download attachment qa_attachment_1565231365964.jpg 22:27 # it all 66% a edugen.wileyplus.com leyPLUS Kieso, Intermediate Accounting, 11e, Volume 1 Help | System Announcements PRINTER NT RESOURCES nt C10 Exercise 10-7 se 10-7 Crane Manufacturing Inc. is installing a new plant at its production facility. It has incurred these costs: se 10-19 se 10-23 Cost of the manufacturing plant (cost per supplier’s invoice plus non-recoverable taxes) $2,500,000 Initial delivery and handling costs 208,000 core Cost of site preparation 603,000 sults by Study. Consultants used for advice on the acquisition of the plant 705,000 Interest charges paid to supplier of plant for deferred credit 207,000 Estimated dismantling costs to be incurred after seven years 308,000 Operating losses before commercial production 406,000 Determine which costs Crane Manufacturing Inc. can capitalize in accordance with IAS 16. According to IAS 16, following costs can be capitalized: LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR
Which of the following transactions would NOT be reported in
Question Which of the following transactions would NOT be reported in the Liabilities section of the balance sheet?Declaration of $50,000 of stock dividends due to shareholders$3,300 of sales taxes due to the government.Accrual of $1,500 of interest on a note payable.Issuance of a $600,000, 8% bond that matures in five years.All of these are liabilities.Bellamy Company manufactures high-end bicycles. It was recently discovered that one batch of tires used to produce the bicycles were defective. As a result of the defects, three of Bellamy’s customers suffered substantial injuries. The customers sued Bellamy for $1,200,000. Bellamy’s counsel deemed that a loss was probable and the amount was a reasonable estimate of the loss. Bellamy subsequently sued the manufacturer of the tires for $5,000,000, citing that the Bellamy name had been significantly tarnished as a result of the defective tires. Bellamy’s counsel deemed that it was probable that Bellamy would win the lawsuit and the amount was a reasonable estimate of the settlement.How would Bellamy record these transactions?Bellamy would not report anything until both lawsuits are settled.Bellamy would net the probable gain against the probable loss and would report a net gain of $3,800,000.Bellamy would accrue a liability for the $1,200,000 loss and accrue a receivable for the $5,000,000 gain.Bellamy would accrue a liability for the $1,200,000 loss, but would not accrue anything for the gain.Which of the following statements is true?When a bond’s effective rate is higher than the yield, the bond will sell at a premium.When a bond’s yield is higher than its face rate, the bond will sell at a premium.When a bond’s face rate is higher than the yield, the bond will sell at a premium.None of these answers are correctWhen a bond’s face rate is higher than its coupon rate, the bond will sell at a premium.
Problem 9-4 Cost of Preferred Stock with Flotation CostsBurnwood Tech
Question Problem 9-4 Cost of Preferred Stock with Flotation CostsBurnwood Tech plans to issue some $60 par preferred stock with a 7% dividend. A similar stock is selling on the market for $61. Burnwood must pay flotation costs of 6% of the issue price. What is the cost of the preferred stock? Round your answer to two decimal places. %
On January 1, 2017, Moritz Company issued a five-year, $300,000,
Question On January 1, 2017, Moritz Company issued a five-year, $300,000, 6% bond that pays interest each January 1 and July 1. The market rate at the time of issuance was 7%. Assume that, on July 1, 2020, Moritz retired all of the bonds at 99. What gain or loss, if any, will Moritz recognize on the retirement of the bonds? (Round to the nearest dollar and choose the answer closest to your calculations).$16,181 lossNone of the above$16,181 gain$1,202 loss$1,202 gainDorado Company is authorized to issue 1,000,000 shares of common stock. They issued 400,000 shares of $5 par value stock for $18 per share. They repurchased 100,000 shares at $20 per share and reissued 20,000 of the Treasury shares at $22 per share. Assuming no shares were retired, what is the number of shares outstanding?900,000 shares320,000 shares300,000 shares380,000 sharesCannot be determined based on the information givenCrespo Company is authorized to issue 2,000,000 shares of common stock. They issued 500,000 shares of $5 par value stock for $20 per share. They repurchased 100,000 shares at $25 per share. Assuming no shares were retired, what is the number of shares issued?400,000 sharesCannot be determined based on the information given1,900,000 shares500,000 shares2,000,000 shares
Which of the following is NOT a Contributed Capital account?
Question Which of the following is NOT a Contributed Capital account? style=”color:rgb(51,51,51);”>Additional Paid-in capitalRetained EarningsCommon StockPreferred StockAll of these are part of Contributed Capital.On January 1, 2018, its first year of business, Scotti Company issued 2,000,000 shares of $5 par value Common Stock for $18 per share. On July 5, 2018, Scotti repurchased 200,000 shares at $20 per share. On August 4, 2018, Scotti reissued 50,000 of its Treasury shares at $25 per share. On September 15, 2018, Scotti reissued 50,000 of its Treasury shares at $23 per share. On December 29, Scotti reissued the remaining 100,000 shares for $15.50 per share. Scotti earned $420,000 of net income throughout the year and did not pay any dividends in its first year. How would Scotti report the September 15th sale of the treasury shares?Increase Cash for $900,000, decrease Treasury Stock for $1,000,000 and increase Paid-in-Capital Treasury Stock for $100,000.None of these answers are correct.Increase Cash for $1,150,000, decrease Treasury Stock for $900,000 and increase Paid-in Capital Treasury Stock for $250,000.Increase Cash $1,150,000, decrease Treasury Stock for $1,000,000 and increase Paid-in-Capital – Treasury Stock account for $150,000.Increase Cash for $1,150,000 and decrease Treasury Stock for $1,150,000.On January 1, 2018, its first year of business, Scotti Company issued 800,000 shares of $5 par value Common Stock for $18 per share. On July 5, 2018, Scotti repurchased 200,000 shares at $20 per share. On August 4, 2018, Scotti reissued 50,000 of its Treasury shares at $25 per share. On September 15, 2018, Scotti reissued 50,000 of its Treasury shares at $23 per share. On December 29, Scotti reissued the remaining 100,000 shares for $16.50 per share. Scotti earned $420,000 of net income throughout the year and did not pay any dividends in its first year. What is the balance in the Retained Earnings account on December 31, 2018?$470,000$370,000$420,000Cannot be determined from the information given.$0
Help?I need to make and excel spread sheet (example below
Question Help?I need to make and excel spread sheet (example below . However, I need Toyota’s financial information from 2019 reports to fill in the information below. Please provided me with Toyotas financial data from 2019 accounting reports. or help me find out what their financial goals where in 2019 and what they project for 2020. Financial goals Scope (sales, operating profit margin, ROI, ROE, Leverage)What are Toyotas corporations goals? What are the actual result in 2019 and estimated results in 2020 Vs Financial goals for 2024 (5 years forward) Toyota’s Financials Goals Actual Goal Change:2019-2024 2019 Vs 2020 2024 Amount ($BB) Percent Sales ($BB) OPM (%) ROI (%) ROE (%) LTD ($BB) Equity ($BB) Capital Leverage (%)
When a company uses the direct method to determine the
Question When a company uses the direct method to determine the cash flows from operating activities, cash flows from operating activities will:be identical to the amount reported using the indirect method.be larger if there is a net cash outflow and smaller if there is a net cash inflow compared to the amount reported using the indirect method.be larger if there is a net cash inflow and smaller if there is a net cash outflow compared to the amount reported using the indirect method.always be larger than the amount reported using the indirect method.Using the indirect method, which of the following would be added to net income?An increase in EquipmentA decrease in SuppliesAn increase in Prepaid InsuranceA decrease in Salaries and Wages PayableWhich of the following is NOT a financing activity.All of these are financing activities.Purchasing your own company’s stock.Issuing bonds for cash.Repaying the principal of a loan
Problem 9-6 Cost of Equity: CAPMBooher Book Stores has a
Question Problem 9-6 Cost of Equity: CAPMBooher Book Stores has a beta of 1.3. The yield on a 3-month T-bill is 3.5% and the yield on a 10-year T-bond is 8%. The market risk premium is 6%, and the return on an average stock in the market last year was 14%. What is the estimated cost of common equity using the CAPM? Round your answer to two decimal places.
Which of the following is an investing activityIssuing a loan
Question Which of the following is an investing activityIssuing a loan in cashIssuing bonds for cashObtaining a loan in cash.Receiving a dividend from your investment in another company.When preparing a Statement of Cash Flows under the indirect method, how does a company account for depreciation expense?It does not make any adjustments for depreciation expense for the period.It adds the depreciation expense for the period to the investing section.It deducts the depreciation expense for the period from the operating sectionIt adds the depreciation expense for the period to the operating section.It deducts the depreciation expense for the period from the investing sectionMarshall Company issued $250,000 stock in exchange for a piece of land. How would Marshall report this transaction on the Statement of Cash Flows?This transaction would not be reported on the Statement of Cash Flows.Half of the amount would be reported as a cash inflow for financing activities and half would be reported as a cash outflow for investing activities.As a cash outflow for investing activitiesAs a cash inflow for financing activitiesWhich section of the balance sheet corresponds with the Financing Section of the Statement of Cash Flows?Long-term Liabilities and Stockholders’ EquityItems from all of the sections of the Balance Sheet are reported in the Financing Section of the Statement of Cash Flows.Current Assets and Current LiabilitiesLong-term AssetsHow would a company record the purchase of $30,000 of Treasury Stock on the Statement of Cash Flows?As a cash inflow for investing activitiesAs a cash outflow for financing activitiesAs a cash inflow for financing activitiesAs a cash outflow for investing activitiesThis transaction would not be reported on the Statement of Cash flows.When preparing the Statement of Cash Flows under the direct method, how do we determine the payment from suppliers?None of these answers are correct.Purchases – Ending Inventory Beginning Inventory Beginning Accounts Payable – Ending Accounts Payable.Purchases Ending Inventory – Beginning Inventory Beginning Accounts Payable – Ending Accounts Payable.Purchases – Ending Inventory Beginning Inventory – Beginning Accounts Payable Ending Accounts PayableWhich of the following would NOT be reported in the Operating Section of the Statement of Cash Flows when using the Indirect Method?Interest paid on a noteLoss on sale of equipmentDividends paidDividends received
The post Match each account name to the financial statement section (a-i) appeared first on Smashing Essays.
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"
