Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $43,500; Liabilities = $20,500; Dividends = $2,140; Revenues = $13,100; Expenses = $8,200.1) Calculate net income.
2) Calculate stockholders' equity at the end of the period.

Answers

Answer 1
Answer: Net income is simply Revenues - Expenses.

In this case 13100-8200=4900
 
For the second question, first we need to find out what the Shareholders Equity portion of balance sheet is.

Assets= Liabilities+Shareholders Equity.

From this we can determine S/E:43500=20500+S/ES/E=23000
 
Now we need to consider the year's Net Income.

From previous question we know that its 4900, however we have to take into account that dividends are payed out of this amount.

Therefore the retained earnings after dividends are 4900-2140=2760.
 
The total stockholder's equity is 23000+2760=25760.

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Which of the following information MUST be recorded on an unexecuted order ticket where the trade has been canceled?I. Time of executionII. Time of receiptIII. Time of cancellationIV. Solicited or unsolicitedA. I and II onlyB. III and IV onlyC. II, III, IVD. I, II, III, IV
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The corporate staff in the accounting department at ABC Corporation went on 12-hour days during the holiday season, just like the regular retail employees do during that season. This is an example of a(n) _________ change.Adaptive​Radically innovative​InnovativeProduct​

Answers

If the corporate staff in the accounting department at ABC Corporation went on 12-hourdays during the holiday season, just like the regular retail employees do during that season, this would be an example of an adaptive change.

The Patersons bought a home that was newly constructed in 2007 for $275,000. They sold the home in 2015 for $255,000. Which of the following statements is correct regarding the sale of the house?a. The 2015 sale increased 2015 GDP by $255,000; and caused 2007 GDP to be revised downward by $20,000.b. The 2015 sale increased 2015 GDP by $255,000 and had no effect on 2007 GDP.
c. The 2015 sale affected neither 2007 GDP nor 2015 GDP.
d. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.

Answers

Answer:

The statement that is correct is;

d. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.

Explanation:

GDP is known as the Gross Domestic Product. The GDP is a measure of the quantity of goods and services that are produced in a country during a certain period in time. The GDP is usually expressed in monetary terms. A high GDP usually translates to high levels of production. It is often used to determine how wealthy a country is in relation to the production capabilities. To determine a change in GDP, we need to determine the Net national product as follows;

NNP=GDP-D

where;

NNP=net national product

GDP=gross domestic product

D=depreciation

In our case;

NNP=$255,000

GDP=$275,000

D=d

replacing;

255,000=275,000-d

d=275,000-255,000=20,000

The depreciation=$20,000

The 2015 sale reduced 2015 GDP by $20,000 and had no effect on the 2007 GDP.

Answer:

d that's the answer

" The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP"

Explanation:

2. as you progress in your career or profession, which section of your resume will be the most important?

Answers

Answer:

As you progress in your career or profession, the most important section of your resume may shift from one stage to another. Here's how it can evolve:

1. **Early Career**: When you're just starting your career, your education and skills sections are often the most critical. You may not have extensive work experience, so highlighting your educational background and relevant skills can help you stand out.

2. **Mid-Career**: As you gain more experience, your work experience section becomes increasingly important. This is the stage where you've likely built a solid track record of accomplishments, and your ability to demonstrate your contributions in previous roles can set you apart.

3. **Senior/Executive Level**: At this stage, your accomplishments and leadership experience are paramount. The achievements, projects, and impact you've had in previous roles, especially in leadership positions, take center stage. This could include accomplishments related to revenue growth, cost savings, team leadership, and strategic initiatives.

4. **Industry or Role Transition**: If you're changing industries or roles, your resume's summary or objective statement, along with a strong cover letter, become crucial. These sections should communicate your transferable skills, passion for the new field, and how your past experience can add value in the new context.

5. **Professional Development**: Throughout your career, showcasing your commitment to professional development, certifications, and continuing education can be important. A "Professional Development" or "Certifications" section can demonstrate that you're keeping your skills and knowledge up to date.

6. **References**: As you progress, you might consider removing the "References" section from your resume. It's often assumed that you'll provide references when requested, and it can free up space for more valuable content.

Remember that the most important sections of your resume should align with your current career goals and the expectations of your target industry or employer. Customizing your resume for each job application is essential to highlight the most relevant information for the specific role you're seeking.

Historically, ____ responsibility means making a profit by producing a product valued by society. It has been the most basic social responsibility of a business.a. discretionary
b. ethical
c. legal
d. fiscal E.economic

Answers

The answer to the question is letter E. economic.
Historically, economic responsibility means making a profit by producing a product valued by society. It has been the most basic social responsibility of a business.
Economic responsibility is one of the common social responsibility to ensure that we are profitable while providing value to our stakeholders.

The type of fraud committed by company managers who make false and misleading entries in the books, making the financial results of the company appear better than they actually are, is called:

Answers

Answer:

Fraudulent Financial reporting

Explanation:

Fraudulent financial reporting is practiced by managers to present financial position of the firm in a better way. Managers manipulate the figures in profit or loss or balance sheet to make the statements appear good with an intention to deceive investors.

This could be done by managers under pressure from upper management or for personal benefits. It can be avoided by getting external auditors to audit the statements.

Managerial accounting primarily serves the needs of a firm sAnswer
suppliers.
customers.
managers.
investors.

Answers

managerial accounting serves the needs of a firms; managers