Answer:
The answer is A. $870
Explanation:
The lower-of-cost-or-market (LCM) method measures closing or ending inventory at the lower of its cost(historical cost) or its current market cost(replacement cost). This situation arises when inventory has deteriorated, or has become obsolete, or market prices have gone down.
Item 1...... 5 units x $45 = $225
Item 2..... 7 units x $60 = $420
Item 3..... 9 units x $25 = $225
Total......................................$870
NEED HELP ASAP!! 30 points AND I WILL MARK YOU BRAINLIEST!!
1. Based on your knowledge of the Stock Market; how do stocks represent ownership in a company, and what determines the price of a stock?
2. Considering your previous knowledge of investing; please name three notable forms of investing money and construct a comparison of how they differ from each other.
3. You have just received your paycheck from Chick-Fil-A. You go to the bank to deposit your check in the amount of $120.00 to your bank account. The teller issues you a deposit slip. Upon leaving the bank, you go to Target. There you see a pair of jeans you like on sale for $30.00 from the usual $40.00. You decide it’s a great deal and purchase the jeans. You give the cashier your debit card to pay for the purchase and the jeans become yours. Using this scenario, please discuss how the three uses of money are being utilized. Please be specific about each use and which step in this scenario represents each use.
Answer:
1. Stocks are held by equity owners. The equity owners are the common stockholders and the preferred stockholders, who have some preference over the common stockholders. Because of this preference which reduces their risk exposure, preferred stockholders are regarded as part-owners, leaving the common stockholders to be the ultimate, risk-bearing owners. Therefore, their level of participation in the distribution of profits is higher than the preferred stockholders.
Another way to differentiate stockholders as owners of a company is to look at debt holders. These are regarded as creditors to the company. They finance the company for some fixed interest. They do not participate in profit sharing. They are different from the stockholders, who may be preferred stockholders or common stockholders.
1b. The price of a stock is initially fixed by the company when the par or stated price is determined. When the stock goes public and issued in the stock exchange, the price is then determined by the market forces of supply and demand. The stock price can also be determined by the book value of the company divided by the outstanding shares.
2. Three notable forms of investing money are:
a) Buying a company's stocks
b) Investing in bonds
c) Investing in Government-backed treasury bills or bank savings
b) Comparison
Stocks Bonds Treasury/Savings
1. Term period Permanent Long-term Short-term
2. Returns Dividend /capital Fixed interest Fixed interest
appreciation
3. Risk profile High Limited Low
3. The three uses of money:
a. To pay and receive wages: Chick-Fil-A, where you work give you your paycheck in the amount of $120.00. There is an exchange with cash for labor.
b. To save in the bank: You deposit your check in the bank and the bank credits your debit card account in the sum of $120. There is an exchange with cash for a debit card. The debit card is equivalent to the cash in bank deposit.
c. To pay for goods and services: You buy the pair of jeans for $30 using your debit card, which the cashier debits accordingly. There is an exchange of cash for the jeans.
Explanation:
Money is a means of exchange for goods and services. It can also be invested in stocks, bonds, or savings to earn some form of interests.
When others have helped you write a report, you usually thank them in an acknowledgments section somewhere in the report
Answer: Acknowledgments are a section in a report where you thank and credit the individuals or organizations who have helped you in your work.
Explanation: In academic or professional writing, it is common practice to include an acknowledgments section in a report where you can thank and credit individuals or organizations who have helped you in your work. This section is typically placed at the beginning or end of the report, and is a way to recognize the contributions of those who have assisted you.
Acknowledgments could include thank you notes to individuals who provided their expertise, resources or time towards a research project, or those who supported you in other ways, such as colleagues, friends or family. The acknowledgments section is also a place to acknowledge funding sources that supported your research or project, or organizations that provided in-kind support.
It is important to acknowledge the contributions of others in your work as a sign of appreciation for their help, but also as a way of establishing transparency in your research or project. It helps to legitimize your work and makes it clear that you did not take credit for someone else's ideas or contributions. Additionally, acknowledging others’ contributions might create opportunities for future collaborations and working relationships.
Overall, the acknowledgments section is a crucial part of a report, as it helps to recognize the efforts of all those who have contributed to the work, and establishes the writer as a trustworthy and collaborative professional.
1. A manager increases___by seeking feedback and reflecting on how her personality affects her behavior and impacts other people.
A manager increases her self-awareness by seeking feedback and reflecting on how her personality affects her behavior and impacts other people.
What is self-awareness?Self-awareness is the experience of one's own identity or uniqueness, according to self-help philosophy. It should not be confused with qualia-based awareness. While self-awareness is the realization of that awareness, consciousness is the awareness of one's surroundings, body, and lifestyle.
Being self-aware means having a solid awareness of who you are, including your feelings and personality. Learning to better understand your emotions and your behavior is a key component of developing self-awareness.
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Explain how each of the following events would affect the equilibrium price and quantity of new textbooks. (Explain which curve(s) would shift and in which direction(s).)
The events that would affect the equilibrium price and quantity of new textbooks include changes in production costs, shifts in student enrollment, changes in government policies etc.
How do these events impact the equilibrium price and quantity?The changes in production costs will shift the supply curve of new textbooks. If production costs increase, the supply curve would shift to the left resulting in decrease in the equilibrium quantity and an increase in the equilibrium price.
But if production costs decrease, the supply curve would shift to the right leading to an increase in the equilibrium quantity and a decrease in the equilibrium price of new textbooks.
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in international trade the Monopoly tendency appearing in which form
Answer:A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. An unregulated monopoly has market power and can influence prices. Examples: Microsoft and Windows, DeBeers and diamonds, your local natural gas company.
Explanation:
In international trade monopoly appears in the form of a single seller or producer of a commodity which has no close substitute.
The monopolist is the one that is responsible for setting the price here. He has no competitors. What he sets is what the market buys at.
In such a market only one company renders its service or goods to the entire market. The company usually enjoys abnormal profit due to the reasons that I have stated above.
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Write a 1-page memo to the CEO. Include each chart (3) and a paragraph per chart. Each paragraph should explain the story of each visualization and explain why visualizations are important.
STEP 2
Income CATEGORIES PERCENTAGE NUMBER
$100,000 to $124,999 8% 2
$125,000 to $149,999 4% 1
$20,000 to $24,999 4% 1
$25,000 to $34,999 29% 7
$35,000 to $49,999 13% 3
$50,000 to $74,999 17% 4
$75,000 to $99,999 21% 5
Decline to answer 4% 1
24
STEP 3
GENDER PERCENTAGE NUMBER
Female 54% 13
Male 46% 11
24
STEP 4
QUESTION RESPONSES PERCENTAGE NUMBER
0 6% 1
2 11% 2
5 28% 5
6 11% 2
7 17% 3
8 11% 2
9 6% 1
10 11% 2
18
Answer:
[Your Name]
[Your Position]
[Date]
Subject: Insights from our Survey - A Window into the Lives of our Valued Customers
Dear [CEO's Name],
I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.
Chart 1: Income Categories - Reflecting the Lives of our Customers
This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.
By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.
Chart 2: Gender Distribution - Celebrating Diversity and Inclusion
This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.
Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.
Chart 3: Question Responses - Unveiling Our Customers' Voices
Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.
Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.
In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.
Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.
Warm regards,
[Your Name]
[Your Position]
Explanation:
.................lol
Answer:
AND SHE SAID , SHE SAID , SHE SAID SHE'S FROM HAWAII, DO YOU KNOW HOW TO SPEAK CUTE IN JAPAN? KAWAII!
If the multiplier in an economy is 3, a $30 billion increase in net exports will
If the multiplier in an economy is 3, a $30 billion increase in net exports will increase GDP by $90 billion.
Using this formula
Increase in GDP=Economy multiplier ×Increase in net exports
Where:
Economy multiplier=3
Increase in net exports=$30 billion
Let plug in the formula
Increase in GDP=3×$30 billion
Increase in GDP=$90 billion
Inconclusion If the multiplier in an economy is 3, a $30 billion increase in net exports will increase Gross domestic product (GDP) by $90 billion.
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Suppose you are a human resource professional at a company setting up work
teams for production and sales. Explain at least four legal requirements which need
to be embedded in your pay structure to support this new work arrangement.
If I were a human resource professional at a company setting up work teams for production and sales, the four legal requirements that need to be embedded in my pay structure to support this new work arrangement are:
The nation's minimum yearly salary.State minimum wage is paid.Minimal wage for the employees.A flat wage for the position.What will the legal requirements be about?A group incentive plan is a form of compensation that bases pay on the collective performance of a team and emphasizes cost-cutting, productivity growth, and achieving organizational objectives.
I supposedly work in human resources for a company that organizes work teams for sales and production and I would suggest the below point to encourage this new work arrangement:
Teams that are unable to function independently are provided group incentive plans. They are only able to function in teams, and the job itself necessitates it.Learn more about human resource professional from
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What dose it mean to be fully human were interacting with others any virtual space like classroom why or why not
While interacting with others in a virtual space, to be fully human means for instance such as in a classroom, means having the qualities and characteristics inclusive to humanity, even though the medium of communication being virtual.
It involves identifying and embracing our shared humanity and engaging in meaningful connections with other people like friends family colleagues, even though miles apart and can only see by virtual screens.
Emotional connections, sharing knowledge, expression ,communication collaboration cooperation are the various forms. Therefore, virtual experiences though lack sensory and physical aspects of face-to-face interactions, they still provide a platform for human connection, learning, and growth.
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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.
1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.
This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.
In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
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Find the interest rate, I, on a given security that costs $100 and that will return $150 after 10 years.
Answer:
Rate = 6.666%
Explanation:
First, the formula of the simple interest rate is:
R = I/PT x 100%
Put in the numbers:
R = $100/($150 x 10 years) x 100%
Then calculate:
R = $100/$1500 x 100%
R = 100/15%
R = 6.666%
What is the best strategy to avoid paying interest on your credit cards?
A. Pay the minimum balance each month.
B. Have credit cards from two different banks.
C. Make payments online.
D. Pay the full balance each month.
Mr Ashok has a company, and has an option to issue different types of preference shares. State all the types preference shares a company can issue.
Variety spice of life
Critically discuss SIX causes of differences in accounting practices used in different countries.
You must discuss, with relevant examples, how a particular factor contributes to or leads to a particular difference in accounting practices.
Answer:
Six causes of differences in accounting practices used in different countries is explained below with detail explanation.
Explanation:
The following are six problems of the variation in Accounting practice practiced in different nations.
Environmental FactorsLegal SystemsCultural DifferenceTaxationFinance providersInflationLegal System :
The legal system of a nation performs an essential role in the development of Accounting policies.
Taxation :
In some countries, Accounting and Taxation are dependent on each other. Whereas in other countries they are independent.
Inflation :
Inflation doesn't remain the same for every country. Uniform accounting practice cannot be followed because of this reason.
Cultural Differences/Diversity :
Cultural diversity plays a pivotal role in the Accounting practice of each country. Cultural practices lead to different practices being followed across the globe.
Environmental Factors :
Many countries have started to incorporate environmental Accounting in their financial statements.
Question 27 (2 points)
Which of the following is not one of the four factors of production?
Entrepreneurship
Human resources
Production resources
Natural resources
Answer:
Entrepreneurship
Explanation:
A farmer has developed a new type of fertilizer. This new fertilizer costs 20
percent more to produce than the old fertilizer but has better results: The
same land now produces 25 percent more crops each year.
Which statement best describes one way the farm will be affected by using
this new fertilizer?
A. The farm's opportunity cost for using fertilizer will increase.
O B. The farm's marginal cost for fertilizer will decrease.
O C. The farm's opportunity cost for using fertilizer will degrease.
O D. The farm's marginal cost for fertilizer will increase.
Answer: The statement which best describes one way the farm will be affected by using this new fertilizer is:
A. Marginal benefits will increase for each harvest.
Based on the given text, we can see that there is the development of a new type of fertilizer which was made by a farmer and there is a difference in cost which would have an effect.
With this in mind, we can see that because it costs 20% more to produce and has better results, then the effect this would have is that the marginal benefits would increase for each harvest.
Therefore, the correct answer is option A
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Ability to continue maximum effort requiring prolonged effort over time
a.
Static strength
b.
Special visualization
c.
Memory
d.
Stamin
the wildlife department has been feeding special food to rainbow trout finger lings in a pond. A sample of weight of 40 trout revealed that the mean weight is 402.7 grams and the standard deviation 8.8 grams .
what is estimated mean wight of population? what is 99% confidence interval?,what degree of confidence is being used? interparet the result
We estimate the mean weight of the population to be 402.7 grams, with a 99% confidence interval of (398.77, 406.63) grams. The degree of confidence used is 99%.
To estimate the mean weight of the population of rainbow trout fingerlings, we can use the sample mean as an estimate. In this case, the sample mean weight is 402.7 grams.
Since the sample is a good representation of the population, we can consider this as our estimate for the population mean weight.
To determine the 99% confidence interval, we need to calculate the margin of error. The margin of error is given by multiplying the critical value (z*) with the standard deviation of the sample mean.
For a 99% confidence level, the critical value is 2.576 (obtained from a standard normal distribution table).
The margin of error is then calculated as 2.576 * (8.8 / sqrt(40)), which equals 3.932 grams. Therefore, the 99% confidence interval for the mean weight of the population is 402.7 ± 3.932, or approximately (398.77, 406.63) grams.
The degree of confidence used is 99%, meaning that if we repeated the sampling process multiple times, approximately 99% of the resulting confidence intervals would contain the true population mean weight.
In conclusion, we estimate the mean weight of the population to be 402.7 grams, with a 99% confidence interval of (398.77, 406.63) grams. This means we are 99% confident that the true population mean weight falls within this range.
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Monty Inc. presented the following data. Net income $2,340,000 Preferred stock: 53,000 shares outstanding, $100 par, 8% cumulative, not convertible 5,300,000 Common stock: Shares outstanding 1/1 692,400 Issued for cash, 5/1 321,600 Acquired treasury stock for cash, 8/1 160,800 2-for-1 stock split, 10/1 Compute earnings per share. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $enter earnings per share rounded to 2 decimal places
Answer:
Monty Inc.
The earnings per share (EPS) is:
= $0.75
Explanation:
a) Data and Calculations:
Net income = $2,340,000
8% cumulative, non-convertible Preferred stock:
53,000 shares outstanding at $100 par = $5,300,000
Common Stock:
1/1 Shares outstanding 692,400
5/1 Issued for cash 321,600
8/1 Treasury Stock (160,800)
10/1 Stock Split 1,706,400
Total shares outstanding 2,559,600
Net income $2,340,000
Dividends:
Preferred stock 424,000 (8% of $5,300,000)
Remaining for common stock $1,916,000
Earnings per share = $1,916,000/2,559,600 = $0.75
b) Monty's EPS is the amount of net income that is remaining for distribution to common stockholders after deducting the preferred stockholders' dividends.
Consider the exchange market for the Australian dollar with the U.S. dollar. Determine whether each of the following events will lead to a change in supply or demand for the Australian dollar and whether the Australian dollar will appreciate or depreciate. a. Suppose U.S. consumers experience an increase in income. O Supply of the Australian dollar will decrease. Demand for the Australian dollar will decrease. O Supply of the Australian dollar will increase. O Demand for the Australian dollar will increase. As a result, the Australian dollar will (Click to select) b. There is an increased preference among Australian consumers for U.S produced cars. Demand for the Australian dollar will decrease. O Demand for the Australian dollar will increase. Supply of the Australian dollar will decrease. Supply of the Australian dollar will increase. TH ch As a result, the Australian dollar will (Click to select) c. Consumers and firms in the United States expect the exchange rate to fall next month. O Supply of the Australian dollar will increase. O Demand for the Australian dollar will increase. O Demand for the Australian dollar will decrease. O Supply of the Australian dollar will decrease. As a result, the Australian dollar will (Click to select)
The entire question mentions the Exchange market for the Australian dollar and the US dollar.
1) When U.S. consumers experience an increase in income, demand for the Australian dollar will increase. As a result, the Australian dollar will appreciate a rise in the income of Us consumers. It mentions that the demand for imports from Australia will increase at a higher rate.
2)When there is an increased preference among Australian consumers for U.S produced cars. Demand for the Australian dollar will decrease as only US dollars will get you US produced cars.
3)Consumers and firms in the United States expect the exchange rate to fall next month, if this happens, the demand for US dollars will increase as things will become cheaper which eventually causes the demand for the Australian dollar to decrease.
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Occupational hygiene focuses specifically on three types of exposures. Explain any Two of these
Occupational hygiene focuses specifically on three types of exposures are:
chemical physical biologicalWhat is Occupational hygiene?Occupational hygiene can be described as the process that is been used in the work placer so that it can focus on the monitoring as well as preservation of the people of the workplace from any hazards.
chemical exposure can be described as one that focus on any hazards that can come from the use of toxic substance in the workplace. physical exposure can be described as the one tat focus on any hazards as a result of any physical injury in the workplace.
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What scenario shows the best time to "play it safe" in investing because the law of diminishing returns is against the investor?
A Your children are 5 and 3 and you are in middle management in your company and you have extra money to invest for college funds.Your children are 5 and 3 and you are in middle management in your company and you have extra money to invest for college funds.
B You are 65 and have retired from your career and are looking at a very long and happy life of traveling and good times.You are 65 and have retired from your career and are looking at a very long and happy life of traveling and good times.
C You are 5 years from retirement and your friend knows a "sure" investment that will more than triple your retirement account.You are 5 years from retirement and your friend knows a "sure" investment that will more than triple your retirement account.
D You just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
The scenario that shows the best time to "play it safe" in investing because the law of diminishing returns is against the investor is option D: You just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
In this scenario, the investor has already experienced a significant gain by hitting a big jackpot in Las Vegas. However, investing the entire amount back into another game with the intention of doubling the return poses a high level of risk. The law of diminishing returns suggests that as an investment or activity continues, the incremental return or benefit diminishes over time. By putting all the winnings back into another game, the investor is exposing themselves to unnecessary risk. Instead, it would be wiser to consider diversifying the investment portfolio, preserving a portion of the winnings, and adopting a more conservative approach. This helps to protect the gained wealth and potentially generate more stable, sustainable returns in the long run. Hence the correct answer in Option D. you just hit a big jackpot in Las Vegas and decide to put it all back into another game to double your return.
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Question 7 of 10
Business health insurance plans are
A. required
B. varied
C. non-existent
D. uniform
so
Define ATS and describe its use.. Why would large companies
use an ATS ?
Answer:
An applicant tracking system (ATS) is a human resources software that acts as a database for job applicants.
On October 1. Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $84,310 in assets in exchange for its common stock to launch the business. On October 31. the company's records show the following items and amounts.
Cash 10,200
Accounts receivable 15,200
Office supplies 3550
Land 45990
Office equipment 18310
Accounts payable 8,740
Stock 84,310
Cash dividends 2340
Consulting revenue 15,200
Rent expense 3,910
Salaries expense 7,350
Telephone expense 790
Miscellaneous expenses 610
Also assume the following
a. The owners initial investment consists of $38320 cash and $45,990 in land in exchange for Its common stock
b. The company's S18.310 equipment purchase is paid in cash
c- The accounts payable balance of S8,740 consists of the S3.550 office supplies purchase and $5,190 in employee salaries yet to be paid
d. The company's rent. telephone. and miscellaneous expenses are paid in cash.
e. No cash has been collected on the $15.200 consulting fees earned
Required:
Using the above information prepare an October 31 statement of cash flows for Ernst Consulting (Cash outflows should be indicated by a minus sign.)
Answer and Explanation:
The Preparation of the statement of cash flows is shown below:-
Ernst Consulting
Statement of cash flows
For the year ended Oct 31
Particulars Amount
Cash flow from operating activities
Cash paid for salaries -$2,160
($7,350 - $5,190)
Cash paid for rent -$3,910
Paid cash for telephone
expense -$790
Paid cash for miscellaneous
expense -$610
Net cash flow from operating activities -$7,470
Cash flow from investing activities
Purchase of equipment -$18,310
Net cash flow from investing activities -$18,310
Cash flow from financing activities
dividend paid -$2340
Initial investment in Cash $38,320
Net cash flow from financing activities $35,980
Net cash increase/decrease $10,200
Beginning Cash 0
Ending Cash $10,200
Therefore we indicate the minus sign for cash outflow while the positive amount shows cash inflow.
Many cooks view butter and margarine to be substitutes. If the price of butter rises, then in the market for margarine: 1.the equilibrium price will fall and the equilibrium quantity will fall.
2.both the equilibrium price and quantity will rise.
3.the equilibrium price will rise and the equilibrium quantity will decrease.
4.the equilibrium price will rise, while the change to equilibrium quantity is indeterminate.
Many cooks view butter and margarine to be substitutes. If the price of butter rises, then in the market for margarine both the equilibrium price and quantity will rise.
Option B is correct.
Equilibrium price:The demand and supply factors must be in balance for a price to reach equilibrium. Prices are likely to return to this equilibrium unless demand or supply characteristics change. When either supply or demand, or both, change, the equilibrium price shifts.
When does the equilibrium value rise?When the demand and/or supply curves change, the equilibrium price goes up or down. Demand can change (or shift) as a result of a person's income, preferences, tastes, and preferences for substitute and complementary goods, among other factors. Changes in input prices, weather conditions, the number of suppliers, manufacturing technology, and other factors can alter supply.
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What makes you feel like you are getting your money’s worth?
Answer:
When I save a lot of money
Blossom Corporation’s balance sheet at the end of 2019 included the following items.
Current assets (Cash $82,000) $236,770 Current liabilities $151,770
Land 31,770 Bonds payable 101,770
Buildings 121,770 Common stock 181,770
Equipment 91,770 Retained earnings 45,770
Accum. depr.-buildings (31,770 ) Total $481,080
Accum. depr.-equipment (11,000 )
Patents 41,770
Total $481,080
The following information is available for 2020.
1. Net income was $55,870.
2. Equipment (cost $21,770 and accumulated depreciation $9,770) was sold for $11,770.
3. Depreciation expense was $5,770 on the building and $10,770 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,770.
6. An addition to the building was completed at a cost of $28,770.
7. A long-term investment in stock was purchased for $16,000.
8. Bonds payable of $51,770 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.
Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment.)
Thanks in advance!
The preparation of a statement of cash flows and balance sheet for 2020 for Blossom Corporation is as follows:
1. BlossomCorporation Corporation
Statement of Cash FlowsFor the year ended December 31, 2020
Operating Activities:Net Income $55,870
Add Non-Cash Expense:
Loss from sale of equipment 230
Depreciation Expenses 16,540
Amortization Expense 2,500
Adjusted cash $75,140
Changes in working capital:
Increase in current assets (29,000)
Increase in current liabilities 14,770
Cash from operations $60,910
Investment Activities:Sale of equipment $11,770
Building cost (28,770)
Investment in stock (16,000)
Cash from investments ($33,000)
Financing Activities:Bonds payable $51,770
Dividends payment (30,000)
Treasury stock (11,000)
Cash from financing $10,770
Net cash flow $38,680
2. Blossom Corporation
Balance Sheet at the end of 2020Current assets $304,450
Land $31,770
Buildigs $150,540
Equipment $70,000
Accum. depr.-buildings ($37,540)
Accum. depr.-equipment ($12,000)
Long-term stock investment 16,000
Patents 41,770
Amortization of Patents (2,500)
Total assets $562,490
Current liabilities $166,540
Bonds payable $153,540
Common stock $170,770
Retained earnings $71,640
Total liabilities + Equity $562,490
What are Statements of Cash Flows and Balance Sheets?Statements of cash flows and balance sheets are two of the main financial statements prepared periodically by an entity.
The statement of cash flows shows the cash flows from operating, investing, and financial activities.
The balance sheet shows the financial position (assets, liabilities, and equity) of an entity at a point.
Data and Calculations:Blossom Corporation
Balance Sheet at the end of 2019Current assets
(Cash $82,000) $236,770 Current liabilities $151,770
Land 31,770 Bonds payable 101,770
Buildings 121,770 Common stock 181,770
Equipment 91,770 Retained earnings 45,770
Accum. depr.-buildings (31,770 ) Total $481,080
Accum. depr.-equipment (11,000 )
Patents 41,770
Total $481,080
Ending Cash balance = $120,680 ($82,000 + 38,680)
Current assets = $304,450 (236,770 + $29,000 + $38,680)
Land = $31,770
Buildigs = $150,540 ($121,770 + $28,770)
Equipment = $70,000 ($91,770 - $21,770)
Accum. depr.-buildings = $37,540 (31,770 + 5,770)
Accum. depr.-equipment = $12,000 (11,000 - 9,770 + 10,770)
Long-term stock investment 16,000
Patents 41,770
Amortization of Patents (2,500)
Current liabilities $166,540 (151,770 + 14,770)
Bonds payable $153,540 (101,770 + 51,770)
Common stock $170,770 (181,770 - 11,000)
Retained earnings $71,640 (45,770 + $55,870 - 30,000)
Learn about preparing statements of cash flows at https://brainly.com/question/25645312
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