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As of December 31, 2013, Post Company had total cash $156,000, notes payable of $85,000, and common stock of 52,000. During 2014, Post earned 36,000 of cash revenue, paid $20,000 for cash expenses, and paid a $3,000 cash dividend to stockholders a.) determine the amount of retained earnings of December 31, 2013 b.) Create an account equation and record the begeinning account balances under the appropriate elements. c.) record the revenue, expenses, and dividend events under the appropriate elements of the accounting equation created in Requirement b. d.) prove the equality of the accounting equation as of December 31, 2014. e.) identify the beginning and ending balances in the cash and common stock accounts. Explain why the beginning and ending balances in the cash are different, but the beginning and ending balances in the common stock account remain the same.
manufacturer of mobile devices. Richard is the plant manager at KGs Orrville, Ohio, plant. The Orrville plant manufactures a smartphone, the Zoom, which has sold well for the past six months. Richard is being considered for promotion to manager of th..
The general formula to allocate cost is: a. estimated overhead cost divided by cost pool b. cost pool divided by estimated overhead pool c. cost to be allocated divided by total occurrences of the allocation base d. cost base divided by estimated ove..
it had a retail price of $37,000. In addition, Tighe’s employer gave him $5,000 with which to pay the taxes on the prize. How much must Tighe include in his gross income?
these financial statements items are for chen comapny
Describe your assessment of the variety of situations where American corporations have attended to the concerns of critics and instituted programs to improve the lives of all stakeholders of the corporations and have made a contribution to make Am..
What advice can you provide the owner of Sweet Treats on how their business has performed for the month of November, with particular focus on the profitability of the business?
Revelant range is between sales of $245,000 and $364,000. 1. Calculate the contribution margin ratio 2. Prepare two contribution margin statements-one at the $245,000. range and one at the $364,000. Level
The following financial statements of William Ltd and its subsidiary Adam Ltd have been extracted from their financial records at 30 June 2012.
Suppose you sell a fixed asset for $77,000 when it's book value is $84,000. If your company's marginal tax rate is 33%, what will be the effect on cash flows of this sale (i.e., what will be the after-tax cash flow of this sale)?
You may also write the journal entries to record each transaction/adjustment. Interest on bonds payable has not been accrued for the current month. The company has outstanding $240,000 of 8.5% bonds.
Liddy Corp. began constructing a new warehouse for its operations during the current year. In the year Liddy incurred interest of $30,000 on a working capital loan, and interest on a construction loan for the warehouse of $60,000. Interest computed o..
Franklin Industries, Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year: Journalize the entries for these transactions.
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