Reference no: EM132985939
Ruthven Company had the following transactions for 2012, the first year of operations:
1) Issued common stock for $50,000 cash.
2) Purchased merchandise on account, $40,000, terms 1/10, n/30.
3) Sold merchandise on account for $25,000. The inventory sold had cost $14,000.
4) Paid for the merchandise purchased within the discount period.
5) Collected $20,000 on the merchandise sold on account.
6) Paid operating expense of $5,000.
Required:
Question a) What are total assets at the end of 2012?
Question b) What is the balance of the cash account at the end of 2012?
Question c) What is gross margin for 2012?
Question d) What is net income for 2012?
Question e) What are total liabilities at the end of 2012?
Question f) What is total equity at the end of 2012?
Question g) What is total retained earnings at the end of 2012?
Question h) What was the amount of cash flows from operating activities?
|
Find and what is the amount of the firms ebit
: Find and What is the amount of the firms EBIT? Advantage first corperation has sales of $4,244,949; incom tax of $346,456;depreciation of 351,510
|
|
Which of aristotle types of proof
: A novice researcher has difficulty offering which of Aristotle's types of proof?
|
|
Improve the quality of data sets
: Improve the quality of data sets using the software development life cycle (SDLC) methodology. Include a thorough description of each activity per each phase
|
|
Sales and marketing department of mariposa real estate
: A few months ago, Arielle Cruz, Head of the Sales and Marketing Department of Mariposa Real Estate, formally announced to her staff that she will be leaving the
|
|
What was the amount of cash flows from operating activities
: What was the amount of cash flows from operating activities? Sold merchandise on account for $25,000. The inventory sold had cost $14,000.
|
|
Do alternate medical treatments work effectively
: What are the reasons for drug prices being so high in the United States as compared to other advanced nations globally?
|
|
Find how events affects company financial statements
: Paid $90 cash for freight to trucking company.How each of the events affects the company's financial statements, using the horizontal financial statement model.
|
|
Discuss impacts of the industry revolution
: It has been said that the Industrial Revolution was the most profound revolution in human history, because of its sweeping impact on people's daily lives.
|
|
What is agency theory
: -Name a company that you feel has an ineffective board of directors. Why do you feel that way? What could the board do to improve your perception of them?
|