#3Homework Answers
First determine whether assets has any realizable value or not.
If Realizable value= nil
Journal entry-
Loss on disposal of asset Dr 12000
Accum. Depreciation Dr 3000
To Asset 15000
P5-30 Value of a mixed stream For each of the mixed streams of cash flows shown in the following table, calculate the f...
P5-30 Value of a mixed stream For each of the mixed streams of cash flows shown in the following table, calculate the future value at the end of the final year if deposits are made into an account paying annual intertest of 8%. Assume that no withdrawls are made during the period and that the deposits a. At the end of each year (i.e., the first deposit b. At the beginning of each year (i.e., the first deposit are made...
- - 3. Refer to Table 16-1. Assume that there are two profit-maximizing digital cable TV...
- - 3. Refer to Table 16-1. Assume that there are two profit-maximizing digital cable TV companies operating in this market. Further assume that they are able to "collude" on price and quantity of premium digital channel subscriptions to sell. As part of their collusive agreement they decide to take an equal share of the market. How much profit will each company make? a. $170,000 b. $40,000 c. $480,000 d. $540,000 Table 16-1 Quantity 3,000 6,000 9,000 12,000 15,000 18,000...
Copy oma Parte BI- -AA- $. B C E F G A D 6. You purchase...
Copy oma Parte BI- -AA- $. B C E F G A D 6. You purchase the Giovanni's truck because the owner is just tired of waiting for the tourists to come back. You are betting that when the 3 tourists return, they will again make Giovanni's Shrimp Truck extremely 4 profitable. You pay the owner $1,000,000 in cash. A certified appraiser has 5 made a report for you that contains the following information: Estimated Salvage 6 7 Fair Market...
Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following...
Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,000 9,000 3,000 26,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,000 4,000 5,000 0 18,000 9,000 $ 42,000 $ 42,000 The following is a summary...
12 x fe F А D E 1 RedBear Landscaping Company is preparing its annual financial...
12 x fe F А D E 1 RedBear Landscaping Company is preparing its annual financial statements at December 31, 2 2019. The financial statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized (meaning not in proper dassified format) as follows: 4 Balance Sheet at December 31 2020 2019 Change 5 Cash 35,120 $ 24,700 $ 10,420 6 Accounts Receivable 1,700 1,200 $ 500 7 Supplies 7,000 10,000 $...
Use the information below to answer the following questions. The information in the table below depicts...
Use the information below to answer the following questions. The information in the table below depicts the total demand for premium channel digital cable TV subscriptions in a small urban market. Assume that each digital cable TV operator pays a fixed cost of $100,000 (per year) to provide premium digital channels in the market area and that the marginal cost of providing the premium channel service to a household is zero. Table 16-1 Quantity 0 3,000 6,000 9,000 12,000 15,000...
А D E F G H M N O P Q A 3 4. Problem D...
А D E F G H M N O P Q A 3 4. Problem D (38 points): 5 Weather-Tight sells windows and doors. The following data applies to the company's current operating activities: Solution: Please place your answer and supporting calculations in the space below and either highlight your final answer or surround it with a border so that it can be easily identified by the grader. Total 100.00% 1 Total Units (products combined) to Break Even: $ $...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR CREDIT Exercise 1 Based on the transactions given below, complete the table that follows: 1 Jan Imran invested AED 12,000 cash and some office equipment worth AED 10,000 into his new business. 2 Jan Purchased Office Supplies for cash AED 3,000. 3 Jan Purchased AED 12,000 worth of office equipment on credit. 4 Jan Paid insurance on the office equipment at AED 200 per...
B C D H Pepper Company Item E F G Consolidation Entries Debit Credit Salsa Company...
B C D H Pepper Company Item E F G Consolidation Entries Debit Credit Salsa Company Consolidated Current Assets Buildings & Equipment Land Investment in Salsa Co. Stock Other Assets Total Debits 140,000 375,000 40,000 475,000 500,000 175,000 300,000 50,000 1,500,000 615,000 875,000 215,000 300,000 70,000 2,075,000 20,000 575,000 Accumulated Depreciation Current Liabilities Bonds Payable Common Stock Additional Paid-in Capital Retained Earings Total Credits 100,000 100,000 200,000 130,000 670,000 300,000 1,500,000 75,000 100,000 100,000 20,000 180,000 100,000 575,000 175,000 200,000...
Answers? 15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and...
Answers?
15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and the additional inforatve balance sheets, the income stat and the additional information Cash Filows using the pration for Sales Co. prepare its Statement of Cash Flows using the Direct M Method Comparative Balance Sheets 1, 2018 and 2017 2018 2017 Change cember Balance Sheets Assets Cash Accounts receivable Inventory Prepaid Insurance Land Equipment Less: Accum Deprec 43,000 28,000 ↑15,000 33,000 30,000 T 3,000 46,000...
P5-30 Value of a mixed stream For each of the mixed streams of cash flows shown in the following table, calculate the future value at the end of the final year if deposits are made into an account paying annual intertest of 8%. Assume that no withdrawls are made during the period and that the deposits a. At the end of each year (i.e., the first deposit b. At the beginning of each year (i.e., the first deposit are made...
- - 3. Refer to Table 16-1. Assume that there are two profit-maximizing digital cable TV companies operating in this market. Further assume that they are able to "collude" on price and quantity of premium digital channel subscriptions to sell. As part of their collusive agreement they decide to take an equal share of the market. How much profit will each company make? a. $170,000 b. $40,000 c. $480,000 d. $540,000 Table 16-1 Quantity 3,000 6,000 9,000 12,000 15,000 18,000...
Copy oma Parte BI- -AA- $. B C E F G A D 6. You purchase the Giovanni's truck because the owner is just tired of waiting for the tourists to come back. You are betting that when the 3 tourists return, they will again make Giovanni's Shrimp Truck extremely 4 profitable. You pay the owner $1,000,000 in cash. A certified appraiser has 5 made a report for you that contains the following information: Estimated Salvage 6 7 Fair Market...
Required information Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Credits Debits $ 4,000 9,000 3,000 26,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals $ 6,000 4,000 5,000 0 18,000 9,000 $ 42,000 $ 42,000 The following is a summary...
12 x fe F А D E 1 RedBear Landscaping Company is preparing its annual financial statements at December 31, 2 2019. The financial statements are complete except for the statement of cash flows. The completed comparative balance sheets and income statement are summarized (meaning not in proper dassified format) as follows: 4 Balance Sheet at December 31 2020 2019 Change 5 Cash 35,120 $ 24,700 $ 10,420 6 Accounts Receivable 1,700 1,200 $ 500 7 Supplies 7,000 10,000 $...
Use the information below to answer the following questions. The information in the table below depicts the total demand for premium channel digital cable TV subscriptions in a small urban market. Assume that each digital cable TV operator pays a fixed cost of $100,000 (per year) to provide premium digital channels in the market area and that the marginal cost of providing the premium channel service to a household is zero. Table 16-1 Quantity 0 3,000 6,000 9,000 12,000 15,000...
А D E F G H M N O P Q A 3 4. Problem D (38 points): 5 Weather-Tight sells windows and doors. The following data applies to the company's current operating activities: Solution: Please place your answer and supporting calculations in the space below and either highlight your final answer or surround it with a border so that it can be easily identified by the grader. Total 100.00% 1 Total Units (products combined) to Break Even: $ $...
Date Accounts that are affected Category (A, L, OE, R, E) Increase OR Decrease DEBIT OR CREDIT Exercise 1 Based on the transactions given below, complete the table that follows: 1 Jan Imran invested AED 12,000 cash and some office equipment worth AED 10,000 into his new business. 2 Jan Purchased Office Supplies for cash AED 3,000. 3 Jan Purchased AED 12,000 worth of office equipment on credit. 4 Jan Paid insurance on the office equipment at AED 200 per...
B C D H Pepper Company Item E F G Consolidation Entries Debit Credit Salsa Company Consolidated Current Assets Buildings & Equipment Land Investment in Salsa Co. Stock Other Assets Total Debits 140,000 375,000 40,000 475,000 500,000 175,000 300,000 50,000 1,500,000 615,000 875,000 215,000 300,000 70,000 2,075,000 20,000 575,000 Accumulated Depreciation Current Liabilities Bonds Payable Common Stock Additional Paid-in Capital Retained Earings Total Credits 100,000 100,000 200,000 130,000 670,000 300,000 1,500,000 75,000 100,000 100,000 20,000 180,000 100,000 575,000 175,000 200,000...
Answers?
15 Points (2 pages) PROBLEM Based upon the comparative she prepare its Statement of and the additional inforatve balance sheets, the income stat and the additional information Cash Filows using the pration for Sales Co. prepare its Statement of Cash Flows using the Direct M Method Comparative Balance Sheets 1, 2018 and 2017 2018 2017 Change cember Balance Sheets Assets Cash Accounts receivable Inventory Prepaid Insurance Land Equipment Less: Accum Deprec 43,000 28,000 ↑15,000 33,000 30,000 T 3,000 46,000...
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