BUSINESS COLLEGE

Dave Ryan is the CEO of Ryan's Arcade. At the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 and liabilities of $220,310. Using the accounting equation, determine the following amounts: a) Stockholders' equity as of December 31 of the current year. $ b) Stockholders' equity as of December 31 at the end of the next year, assuming that assets increased by $84,040 and liabilities increased by $17,800 during the year. $

Answers

Answer 1
Answer:

Answer:

a) Stockholders' equity  = $411,690

b) Stockholders' equity  = $477,930

Explanation:

Accounting equation is defined as Assets = Liabilities + Equity.

a) If t the end of its accounting period, December 31, Ryan's Arcade has assets of $632,000 and liabilities of $220,310, the Stockholders' equity as of December 31 of the current year would be determined as follows:

$632,000 = $220,310 + Equity

Stockholders' equity  = $632,000 - $220,310

Stockholders' equity  = $411,690

b) If assets increased by $84,040 and liabilities increased by $17,800 during the next year, then Stockholders' equity would be determined as follows:

$632,000 + $84,040 = $220,310 + $17,800 + Equity

$716,040 = $238,110 + Equity

Stockholders' equity  = $477,930

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During January, Dream House Builders, Inc. incurred $550 of actual indirect materials costs, as supported by materials requisitions. Required:Draw the journal entry.
Assume an investor purchases the net assets of an investee for the cash purchase price is $50,400. The investor is willing to purchase the investee's business for this amount because the fair value of PPE is $47,040 and the fair value of a (previously unrecognized) customer list is $10,080 (the fair values of all other assets and liabilities are equal to their book values). The investee company reports the following balance sheet on the acquisition date:Cash $1,680 Accounts payable 3,360 Accounts receivable $3,360 Accrued liabilities 5,040 Inventories 6,720 Current assets 11,760 Current liabilities 8,400 Long-tem liabilities 6,720PPE, net 16,800 Stockholders' equity 13,440 Total liabilities & equity $28,560 Total assets $28,560Parts A and B are independent of each other. A. Provide the journal entry if the investor pays cash and purchases the assets and assumes the liabilities of the investee company. B. Provide the journal entry if the investor pays cash and purchases all of the stock of the investee's shareholders.
Colicchio Corporation acquired two inventory items at a lump-sum cost of $60,000. The acquisition included 3,000 units of knife X001, and 3,000 units of knife X002. X001 normally sells for $20 per unit, and X002 for $10 per unit. If Colicchio sells 1,000 units of X002, what amount of gross profit should it recognize?
Newark Company has provided the following information: Cash sales, $500,000 Credit sales, $1,400,000 Selling and administrative expenses, $380,000 Sales returns and allowances, $95,000 Gross profit, $1,410,000 Increase in accounts receivable, $60,000 Bad debt expense, $38,000 Sales discounts, $48,000 Net income, $1,030,000 How much cash was collected from customers
The Talley Corporation had taxable operating income of $495,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $40,000, (2) dividends received of $20,000, and (3) dividends paid of $25,000. Its federal tax rate was 21% (ignore any possible state corporate taxes). Recall that 50% of dividends received are tax exempt. What is the firm’s taxable income? Round your answer to the nearest dollar.

Manu has forecast sales to be $32,000 in February, $41,400 in March, $53,200 in April, and $58,600 in May. 64% of sales are on made on credit, the rest are for cash. The sales on credit are collected 30% in the month of sale, and 70% the month.What are budgeted cash receipts in May?

Answers

Answer:

$185,947  

Explanation:

For each of the scenarios, please decide whether there will be an increase or decrease in short-run aggregate supply or if there will be no change. 1. Changes in the healthcare market cause employers to pay significantly more for health insurance they provide employees.
2. The price of lumber, a commodity, rises drastically due to the effect of heavy winter weather in the American Northwest, where much of the world's lumber is grown.
3. The production of a new type of blade for their combine harvesters, a tractor used to harvest crops, has allowed wheat farmers, like Herbert, to increase productivity by 40%.

Answers

Answer:

1.Aggregate supply falls

2.Aggregate supply falls  

3.Aggregate supply rises due to rise in productivity.

           

Explanation:

1. In simple words, when the cost of production rises the profit margin of the supplier decreases leading as an incentive to supply less.      

2. If the price of the input rises the cost of production also rises leading to lower supply because of lower profit margins.

3. The technological improvement leading to high production would lead to more profits and advantage of economies of scale thus working as an invective to supply more.

Helen, a manager for Marshall Manufacturing, spends much of her time reviewing the global, technological, socio-cultural, competitive, and economic factors that can influence the success of her firm's marketing efforts. Helen's efforts indicate that she is involved with environmental scanning.

Answers

Answer:

The statement is: True.

Explanation:

Environmental scanning refers to the analysis companies make of the immediate and further atmosphere that will allow them to spot threats to counteract or mitigate them and opportunities from where the firm can make a profit. Organizations engaging environmental scanning constantly review different mediums of communication and conduct researches that will keep them up-to-date on market fluctuations.

Final answer:

Helen's role at Marshall Manufacturing involves environmental scanning which requires her to monitor various external factors that influence the company's marketing efforts. The emergence of technology and globalization has expanded competition and reshaped market dynamics, pressing businesses and workers to adapt for macroeconomic growth.

Explanation:

Helen, a manager at Marshall Manufacturing, is actively engaged in environmental scanning, a crucial process in business management that involves analyzing various factors that may impact the company's marketing strategies and overall success. The actions she takes to examine global, technological, socio-cultural, competitive, and economic influences are a testament to this activity's importance. Crucial shifts in how we define markets, primarily due to advancements in technology and globalization, have opened up local businesses to a world of increased competition and innovative approaches to business-to-business relationships via online platforms.

This competitive environment encourages both individual workers and firms to seek improvements and invest in human and physical capital, which can lead to macroeconomic growth. The need to stay ahead in technology and to participate in the global marketplace invariably affects local market dynamics and corporate decision-making processes.

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#SPJ3

What's the buying culture in your hometown? why?​

Answers

The buying culture of a place refers to the factors that influence the purchase of goods and services in an environment. The buying culture in my hometown is the value-added culture. This is because the people in my hometown purchase goods and services mainly when they feel that there is a problem it will help them solve.

  • The value-added buying culture is that wherein the buyer senses that a product will help them to solve a problem that plagues them.

  • For example, most people in my hometown only go to the pharmacy and clinic when they are sick.

  • They do not believe in the idea of occasional check-up because they think that it is a waste of money.

  • Therefore, goods are purchased only when they are crucially needed.

Learn more here:

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Answer:

Explanation:

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Can someone plz help me really quick? I’m struggling. I can give brainliest points.

Answers

Pretty sure its the third one

If the percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good, then how is the demand for the good characterized?

Answers

Answer:

Price Elastic

Explanation:

We know that

The formula to compute the price elasticity of demand is shown below:

= (Percentage change in quantity demanded) ÷ (percentage change in price)

The classification as follows

1. Perfectly inelastic = If zero  

2. Inelastic = When elasticity is below than one

3. Unitary elastic = When elasticity is equal to one

4. Elastic = When elasticity is exceeded than one

5. Perfectly elastic = When elasticity is in infinity

Since the  percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good which reflects that the elasticity is more than one

Answer:

The demand is price elastic in nature because it is greater than 1.

Explanation:

Price Elasticity of demand refers to the response of quantity demanded of a good to the change in price. Of course, when the price decreases, quantity demanded of a good increases and vice-versa but to how much degree is determined by the Price Elasticity of demand.

Mathematically, Price Elasticity of Demand is the ratio of % change in quantity demanded of a good and % change in the price of a good i.e.

Price Elasticity of Demand = % change in quantity demanded of a good / % change in the price of a good

In the problem, since the percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good, the above ratio will be greater than 1. Hence, the demand of the good is price elastic.  

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