The net worth (equity) of Becker and Riaan Nursery on February 28, 2022, is $5,000.
What is net worth (equity)?The net worth (equity) represents the excess of financial and non-financial assets over the liabilities of the entity.
Sometimes, an entity or individual may have a negative net worth. Negative net worth shows that the liabilities exceed the assets.
Data and Calculations:Accounts Payable (Big Nursery Suppliers) = R35,000
Accounts Receivable = R45,000
Equipment = R15,000
Bank overdraft = R20,000
Assets:Accounts Receivable = R45,000
Equipment = R15,000
Total assets = R60,000
Liabilities:Accounts Payable (Big Nursery Suppliers) = R35,000
Bank overdraft = R20,000
Total liabilities = R55,000
Net Worth (excess of assets over liabilities or equity) = R5,000 (R60,000 - R55,000)
Thus, the net worth (equity) of Becker and Riaan Nursery on February 28, 2022, is $5,000.
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On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,360 in assets in exchange for its common stock to launch the business. On December 31, the company’s records show the following items and amounts. Cash $ 7,010 Cash dividends $ 3,390 Accounts receivable 18,350 Consulting revenue 18,350 Office supplies 4,480 Rent expense 4,820 Office equipment 19,360 Salaries expense 8,370 Land 46,040 Telephone expense 910 Accounts payable 9,740 Miscellaneous expenses 720 Common stock 85,360 Exercise 1-20 (Algo) Preparing a balance sheet LO P2 Use the above information to prepare a December 31 balance sheet for Ernst Consulting.
The preparation of the December 31 balance sheet for Ernst Consulting is as follows:
Ernst Consulting
Balance SheetAs of December 31
Assets:Cash $ 7,010
Accounts receivable 18,350
Office supplies 4,480
Office equipment 19,360
Land 46,040
Total assets $95,240
Liabilities and Equity:Accounts payable 9,740
Common stock 85,360
Retained earnings 140
Total liabilities and
Equity $95,240
What is the balance sheet?The balance sheet is a financial statement that shows that an entity's assets are equal to its liabilities and equity.
The first step in preparing Ernst Consulting's balance sheet is to conclude the Income Statement, showing the net income and retained earnings, as below.
Data and Calculations:Cash $ 7,010
Accounts receivable 18,350
Office supplies 4,480
Office equipment 19,360
Land 46,040
Consulting revenue 18,350
Rent expense 4,820
Salaries expense 8,370
Telephone expense 910
Miscellaneous expenses 720
Cash dividends $ 3,390
Accounts payable 9,740
Common stock 85,360
Ernst Consulting
Income StatementFor the year ended December 31
Consulting revenue $18,350
Rent expense 4,820
Salaries expense 8,370
Telephone expense 910
Miscellaneous expenses 720
Net income $3,530
Cash dividends 3,390
Retained earnings $140
Thus, the December 31 balance sheet for Ernst Consulting has been prepared as shown above.
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You are offered $1,000 today, $10,000 in 12 years, or $25,000 in 25 years. Assuming that you can earn 11 percent on your money, which offer should you choose?
Based on the amounts offered and their present values, the best offer is $10,000 for 12 years.
Why the second alternative can be chosen?The second alternative is chosen, because this is chosen as it gets the higher amount of present value, the following are the calculations:
The present value of Offer 1 is $1,000. The present value of Offer 2 is $2,858 (10,000 / (1 + 11%)²)The present value of Offer 3 is $1,840 (25,000 / (1 + 11%)³)Therefore, option 2 has the highest present value and so should be picked.
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Drag the tiles to the correct boxes to complete the pairs. For each scenario match it to the correct factor describing the purpose for holding money. When price levels rise, people hold onto cash. When interest rates are low, people forgo interest income. When aggregate income is high, people hold cash to buy goods that are plentiful and cheap. When interest rates are low, people speculate that they will soon increase. Andy decided to hold his money in cash, as he did not earn sufficient money as income from interest. arrowRight Ben is a consumer and decides not to purchase luxury items because they are too expensive. arrowRight Chad thinks it to be a good opportunity to buy the products from the market as the supply has increased. arrowRight Daphne is holding onto her money as she feels that the interest rate will go up soon. arrowRight
The purpose for holding money in economic in classified into:
transactional motiveprecautionary motivespeculative motiveThe Drop-downs includes:When price levels rise, people hold onto cash. - Speculative motiveWhen interest rates are low, people forgo interest income - Speculative motiveWhen aggregate income is high, people hold cash to buy goods that are plentiful and cheap - Transactional motive.When interest rates are low, people speculate that they will soon increase - Speculative motiveAndy decided to hold his money in cash, as he did not earn sufficient money as income from interest. - Speculative motiveBen is a consumer and decides not to purchase luxury items because they are too expensive - Speculative motiveChad thinks it to be a good opportunity to buy the products from the market as the supply has increased. - Transactional motiveDaphne is holding onto her money as she feels that the interest rate will go up soon - Speculative motiveRead more about holding motives
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17
sked out of
Botanic Choice signs an agreement on January 1, 2019, to lease equipment to Famous Furniture. The
following information relates to this agreement.
. The term of the non-cancelable lease is 4 years with no renewal option. The equipment has an estimated
economic life of 6 years.
• The fair value of the equipment on January 1, 2019, is € 40,000.
• The asset will revert to the lessor at the end of the lease the term, at which time the asset is expected to
have a residual value of £6,000, none of which is guaranteed.
• The agreement requires equal annual rental payments of € 9,538.39 to the lessor, beginning on
December 31, 2019.
• The lessee's implicit rate is 8 %. Present value of an ordinary annuity of $1 for number of periods = 4,
interest 8% equals 3.31213.
What is the balance of lease liability (noncurrent) on December 31, 2019?
Select one:
a. €31.592.39
b. €17,009.51
€24.581.39
d. 22053.99
The balance of lease liability on December 31, 2019, is equal to €31,592.39.
Option A is the correct answer.
What is a lease?A lease is a contract where the owner of the asset permits the other party to utilize the asset for a specified period of time. The owner receives some consideration for that use.
Given values:
Yearly rental payment: € 9,538.39
PV annuity factor of 8% at 4 years: 3.31213
Computation of lease liability balance:
[tex]\rm\ Balance \rm\ of \rm\ Lease \rm\ Liability= \rm\ Yearly \rm\ Rentals \times\ \rm\ PV \rm\ Annuity \rm\ factor\\\rm\ Balance \rm\ of \rm\ Lease \rm\ Liability=\ 9,538.39 \times\ 3.31213\\\rm\ Balance \rm\ of \rm\ Lease \rm\ Liability=31,592.39[/tex]
Therefore, on December 31, 2019, the amount of lease liability comes our to be € 31,592.39.
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The place where buyers and sellers interact is called a _____.
A. market segmentation
B. market share
C. market
D. target market
Answer:
Market
Explanation:
I had this question so I know hope this helps!
Answer: The other person was correct give them brainiest.
Explanation:
do business trust income tax on income according to the conduit principle
Answer:
Yes, the grantor pays the taxes on the income that comes from the trust. They have complete control of the trust. Money is then placed into the trust, the rate it accumulates at is taxable as income to mostly the trust.
Hope it helps.
When purchase cost regularly rise the inventory costing method that use the highest reported net income is
The inventory costing approach that produces the largest reported net profitability while purchase costs are consistently rising is the FIFO method.
What does accounting's inventory technique entail?
Accountants eliminate their company's inventory costs and report them as the cost of goods sold for accounting valuation using an inventory cost flow assumption. These presumptions include FIFO, LIFO, and WAC as examples.
Thus,
The inventory costing approach that produces the largest reported net profitability while purchase costs are consistently rising is the FIFO method.
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law of demand states that
Answer:
The higher the price the higher the quantity demand.
Explanation:
The law of demand states that the higher the price, the higher the quantity of goods and services demanded at a given period of time.
what role would money play in equity theory
Answer:
I’m assuming that people might want to work more because they are basically being bribed to work.
Explanation:
they would end up wanting to work longer periods of time.
Why do people donate to charitable organizations? Choose three answers.
to do what is right
to support a cause
to develop their skills
to earn college credit
to spend time with friends
To support a cause do people donate to charitable organizations. Hence, option B is correct.
What are charitable organizations?sum factor Productivity is a gauge of an economy's or business's level of efficiency. An equation that generates a number serves as the foundation for the measurement itself. The goal of TFP is to evaluate how new technology, improved processes, and improved education and training will affect overall productivity.
An economy may create and consume more goods and services for the same amount of effort when productivity is growing. Individuals, corporate executives, and analysts value productivity.
Physical productivity growth drives up the value of labor, which in turn drives up pay. Employers look for schooling and on-the-job training because of this.
Thus, option B is correct.
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what is excutive branch
Answer:
The executive branch carries out and enforces laws. It includes the president, vice president, the Cabinet, executive departments, independent agencies, and other boards, commissions, and committees. :)
Stockholders, employees and environmentalists are examples of stakeholders whose interests
Stockholders, employees and environmentalists are examples of stakeholders whose interests often conflict.
What is conflict?Conflict refers to the disagreement among the two individual or the group which occurs due to the difference in the ideas, thoughts, attitudes, understanding and interest or opinion.
The interest of the stockholders, employees and environmentalist often tends to conflict because stockholders wants the company to maximize the profits as much as possible, employees wants to increase salary and promotion.
Environmentalist wants to industrialist ans other stockholders to show some concern over the environment and spend some of their earnings in for the environmental growth.
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This course has covered various aspects of managerial accounting that are meant to give you the foundation needed to understand, analyze and evaluate a company’s performance as a company manager as well as an external user of financial information.
Given your personal and professional goals, which of these tools will be of greatest benefit to you (describe at least 3)? Why? Be specific.
Personal and professional goals help to grow in personal and career graphs. My personal goal can be having my own house within 2 years. The professional goal can be having a managerial post in a leading company.
What do you mean by Goals?A goal refers to an objective or outcome for the future that a person wants to achieve. These goals help to design the life structure of an individual. these goals can be personal and professional.
These help to improve the productivity of individuals by motivating them. It helps individuals to perform better, and to seek growth personally and professionally.
It helps in measuring and analyzing the performance of the individual and evaluating and understanding whether the performance is matching to the standards or not.
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Which of the following questions can a balance sheet help to answer? A. Does the business have too many employees? OB. Has too much credit been extended? O C. Does the business have too many customers? OD. Is the business making the right products?
The question that a balance sheet help to answer is has too much credit been extended.
What is a balance sheet?This refers to the financial statement of a company, which shows how assets and liabilities are recorded.
It helps to show the true position of a company's financial status, at a particular time.
Hence, the questions that a balance sheet help to answer is has too much credit been extended.
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Select the appropriate response
Question 2
According to State Farm guidelines, would betterment potentially apply when refinishing a complete
vehicle?
Yes
No
71. Before businesses can effectively use relevant data, they need to determine the type of
A. information that is needed.
B. computer system to purchase.
C. report that is required.
D. collection process to develop.
Answer:
A information that is needed
Explanation:
An incomplete cost of goods manufactured schedule is presented below.
Complete the cost of goods manufactured schedule for Riverbed Company. Assume all raw materials are direct materials.
Work in process (1/1)
$222,600
Direct materials
Raw materials inventory (1/1)
$enter a dollar amount
Add: Raw materials purchases
168,000
Total raw materials available for use
enter a total of the two previous amounts
Less: Raw materials inventory (12/31)
24,500
Direct materials used
$190,800
Direct labor
enter a dollar amount
Manufacturing overhead
Indirect labor
19,600
Factory depreciation
37,900
Factory utilities
72,600
Total overhead
130,100
Total manufacturing costs
enter a total amount for the first part
Total cost of work in process
enter a total amount for all two parts
Less: Work in process (12/31)
85,600
Cost of goods manufactured
$572,400
Completing the Cost of Goods Manufactured Schedule for Riverbed Company is as follows:
Cost of Goods Manufactured ScheduleWork in process (1/1) $222,600
Direct materials:
Raw materials inventory (1/1) $ 47,300
Add: Raw materials purchases 168,000
Total raw materials available for use $215,300
Less: Raw materials inventory (12/31) 24,500
Direct materials used $190,800
Direct labor $114,500
Manufacturing overhead:
Indirect labor 19,600
Factory depreciation 37,900
Factory utilities 72,600
Total overhead 130,100
Total manufacturing cost $658,000
Total cost of work in process $658,000
Less: Work in process (12/31) 85,600
Cost of goods manufactured $572,400
What is the Schedule of Cost of Goods Manufactured?The Schedule of Cost of Goods Manufactured shows the costs of:
Beginning Work in ProcessRaw materials usedDirect laborOverheadLess Ending Work in Process.Thus, the Schedule of Cost of Goods Manufactured for Riverbed Company shows that the cost of goods manufactured for the period is $572,400.
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1. What industry forces might cause a propitious niche to disappear?
If the market contracts, due to internal or external factors, then the demand for the goods and services that the firm sells will fall and thus, a propitious niche will disappear. and, if the market expands, and the company fails to meet the increased demand, then also the propitious niche will vanish.
COST OF COMMON EQUITY WITH FLOTATION Ballack Co.’s common stock currently sells for $46.75 per share. The growth rate is a constant 12%, and the company has an expected dividend yield of 5%. The expected long-run dividend payout ratio is 25%, and the expected return on equity (ROE) is 16%. New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would be the cost of new equity?
Based on the stock price of Ballack Co., the dividend, and the growth rate, the cost of new equity is 17.26%.
What is Ballack Co's cost of new equity?This can be found as:
= (Next dividend / (Current price x (1 - floatation cost) ) + Growth rate
Solving gives:
= ( (46.75 x 5%) / (46.75 x ( 1 - 5%)) + 12%
= ( 2.33 / 44.41) + 12%
= 17.26%
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Which taxpayer would benefit the most from a tax-free municipal bond compared to a taxable bond? a. A taxpayer who won a mega-million-dollar lottery b. The average low income worker c. They would all equally benefit from the tax-free municipal bond d. A taxpayer whose only income is from Social Security
The taxpayer would benefit the most from a tax-free municipal bond compared to a taxable bond is taxpayer who won a mega-million-dollar lottery
Who is taxpayer?A tax payer is an individual who pays tax, the tax is paid based on income generated and it is computed and paid to the government.
Therefore, The taxpayer would benefit the most from a tax-free municipal bond compared to a taxable bond is taxpayer who won a mega-million-dollar lottery
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McBurgers Inc. noticed brown pellets in some areas of
their kitchen. They assume that it is a sign of pest
infestation. What action should they take?
Check all that apply:
Store food away from walls and dispose of trash
regularly.
Change humidity, light, and temperature conditions
in the whole food service area.
Block all entry points to prevent pests from entering
the kitchen or other storage areas.
Sweep the pellets away and clean the floor with
water and a cleaner and apply floor sanitizer.
Submit Answer
The action that they should take are:
Store food away from walls and dispose of trash regularly.Change humidity, light, and temperature conditions in the whole food service area.Block all entry points to prevent pests from entering the kitchen or other storage areas.Sweep the pellets away and clean the floor with water and a cleaner and apply floor sanitizer.What is pest infestation?Pest Infestation is the state of being invaded or overrun by pests or parasites.
To avoid pest infestation, it is important to keep the house clean.
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I'LL MARK BRAINLIEST PLEASE ANSWER FAST (14 POINTS)
To achieve your overall vision of your life, you’re going to have to piece together a lot of _____________ and effort.
A. different parts of your life
B. memories
C. different goals
D. different regrets
Answer:
The answer is B :)
Explanation:
1. Which of the following is NOT usually considered a member of the
executive committee of a hotel?
A. Director of Catering
B. Rooms Division Manager
C. Director of Food and Beverage
D. Director of Engineering
Answer: It should be B
Rooms Division Manager is not usually considered a member of the executive committee of a hotel. Hence, option B is correct.
What is Rooms Division Manager?The personnel in charge of the hotel's front desk, guest services, and cleaning are all supervised by the managers of the rooms division. They answer to the general manager and are in charge of making sure that the guests receive exceptional service.
The section responsible for handling reservations, the front desk, housekeeping, concierge, guest services, and security are just a few examples of the divisions that make up a hotel.
The manager of the rooms division in a hotel oversees coordination between housekeepers and front desk personnel. Their responsibilities also include maintaining quality standards, assigning tasks, preparing schedules, providing leave, and allocating resources, in addition to greeting VIP visits and reporting to general managers.
Thus, option B is correct.
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(a) Define the terms: (1) Gross Domestic Product
Answer:
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.
Explanation:
1. Why didn’t a planet form here?
Answer:
Hi!
so if you mean earth and I just have to guess about your question,
I think Earth is a planet so it would have needed to form.
Explanation:
it needed to form.
ARTICLES OF ASSOCIATION
Answer:
Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.
Discuss the following statement: "Joint ventures have unlimited life."
A joint venture is a business organised by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance.
What does the statement mean?The statement "Joint ventures have unlimited life" implies that a business that is joint ownership will always give an avenue for continuity if one dies. It also gives room for proper funding as both owners will both be financing it and hence promotes it longevity.
Therefore, the implication or meaning of the statement is that there is always available person(s) to manage the affair and bear the risk of the business. Consequently, such business die hard.
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You are considering the purchase of real estate that will provide perpetual income that should average $50,000 per year. How much will you pay for the property if you believe its market risk is the same as the market portfolio’s? The T-bill rate is 3%, and the expected market return is 8.0%.
Which asset is the most liquid?
A. A certificate of deposit
B. An individual retirement account
C. Commercial real estate
D. Residential real estate
The asset that is the most liquid is a certificate of deposit. This is further explained below.
What is a certificate of deposit?Generally, a certificate of deposit is simply defined as depositors who put money in the bank for a certain period of time being given a certificate of deposit.
In conclusion, The asset that is the most liquid is a certificate of deposit
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Millbridge Ambulance Service (MAS) has been considering consolidating its three locations into just two locations. The location MAS is considering closing currently costs $155,000 to operate. If the location is closed, the ambulances from that location would be moved to the other two locations. The savings from the closure would be partially offset by increased expenses at the two remaining locations. MAS will lose $40,000 of state subsidy if it closes the location. MAS wants to close the location only if the closure results in an overall financial improvement. The current costs of the location are as follows: The general and administrative expenses of $20,000 are an allocation of costs from the central office. The costs of the central office are not affected by the existence of the specific locations. If the location is closed, the staff will be transferred to the other two locations, and the lease will be canceled, so there will be no rent or repairs and maintenance. While it will not purchase supplies for this location, the supply cost of the other two locations will rise by $20,000. What should MAS do?
Millbridge Ambulance Service (MAS) should not go ahead with consolidating its three locations into two because it will have a negative cost savings of $5,000.
What are cost savings?Cost savings refer to the benefits that Millbridge can realize from some actions that reduce its expenses or costs.
Cost savings are derived from cost minimization strategies.
Data and Calculations:Salaries of staff = $80,000
Rent = $20,000
Repairs/Maintenance = $10,000
General /Administration = $20,000
Supplies = $25,000
Total = $155,000
Savings in costs:Loss of state subsidy = -$40,000
Rent = $20,000
Repairs/Maintenance = $10,000
Supplies = $5,000 ($25,000 - $20,000)
Total savings = -$5,000
Thus, Millbridge Ambulance Service (MAS) should not go ahead with consolidating its three locations into two because it will have a negative cost savings of $5,000.
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