As of April 30, 2019, Marcus Tools has assets of $107,000 and liabilities of $26,000. How much is the owner's equity for Marcus Tools as of April 30, 2019?
Q: Get correct solution for this general accounting question not use ai
A: Step 1: Define Gross ProfitGross profit is the difference between net sales revenue and the cost of…
Q: Don't use ai given answer accounting questions
A: To calculate XYZ Corporation's net income for the current year, we need to account for all the items…
Q: Compute it's return on equity for 2015 ??
A: The question requires the determination of the ROE. Return on equity or ROE is a measure of a…
Q: Get correct answer accounting questions
A: Step 1: Definition of Price-Earnings (P/E) RatioThe Price-Earnings (P/E) Ratio measures how much…
Q: Accounting. Answer. .
A: Step 1: Given informationBeginning inventory = $34,000Purchases during the period = $119,000Cost of…
Q: Financial Accounting Question please answer
A: The question pertains to the weight of each source of capital that will be utilized to calculate the…
Q: Mia Steel started the year with total assets of $325,000 and total liabilities of $174,000. During…
A: Explanation of Total Assets: Total Assets represent the sum of all resources owned by a business…
Q: Financial Accounting Question please answer
A: Step 1: Define Free cash FlowFree cash flow is the part of net income available with the company…
Q: Kindly help me with general accounting question
A: Step 1: Define Cash Collected From CustomersCash Collected From Customers is the amount received in…
Q: Department W had 2,609 units, one-third completed at the beginning of the period, 12,776 units were…
A: Key Information:Beginning inventory: 2,609 units (one-third completed).Units transferred to…
Q: Hi expert please give me answer general accounting question
A: Detailed explanation:Total cost of production for the month of June :Total Cost of Production:…
Q: Need help with this accounting questions
A: The Australian tax rates for the 2023-2024 financial year (excluding the Medicare Levy) are as…
Q: General accounting
A: Step 1: Define Average Payment periodThe average payment period is the number of days it takes a…
Q: A manufacturing company applies factory overhead based on direct labor hours. At the beginning of…
A: Explanation of Factory Overhead: This represents all manufacturing costs that cannot be directly…
Q: Provide correct answer general accounting
A: Step 1: Define SurplusSurplus is the additional amount that is generated from the project or…
Q: Compute the number of units sold in 2016??
A: To compute the number of units sold in 2016, we can use the following formula:Net Income = (Selling…
Q: Don't use ai
A: Explanation of High-Low Method:The high-low method is a cost estimation technique used to separate…
Q: How can the company ensure a smooth transition?
A: Definitions (in 4 Sentences)Accounting Standards: Rules and guidelines established by authoritative…
Q: DON'T WANT AI ANSWER
A: Let us compute the change in equity by using the basic accounting equation, Assets = Liabilities +…
Q: ??
A: Explanation of Equity:Equity, also known as shareholders' equity or owner's equity, represents the…
Q: What is the balance of
A: The balance of the building will be determined by subtracting the assets from the total liabilities…
Q: Recalculate net income for all three years using variable costing. General Account.
A: Key Information RecapSelling Price per Unit: $1,700Variable Production Costs per Unit: $900Fixed…
Q: General account tutor your help want
A: Step 1: Given InformationUnits transferred out: 800,000 unitsEnding WIP inventory: 208,000 units…
Q: The following cost data relate to the manufacturing activities of Newberry Company during the just…
A: Explanation of Manufacturing Overhead Costs: These are indirect production costs that cannot be…
Q: ???
A: Step 1: Given that Demand (D) = 48,000 Ordering cost (S) = $30 Holding cost (H) = $0.75 Operating…
Q: Please help me this question general accounting
A: The credit sales made during the year should be computed by using the Accounts Receivable Turnover…
Q: What is the cost of goods sold for the year on these general accounting question?
A: Step 1: Define Cost of Goods Sold (COGS)The cost of goods sold (COGS) represents the direct costs…
Q: NO WRONG ANSWER
A: Explanation of Double-Declining-Balance Method:The double-declining-balance method is an accelerated…
Q: I want to correct answer accounting questions
A: Step 1: Definition of TermsCash Conversion Cycle (CCC): The CCC measures the time it takes for a…
Q: general account
A: Step 1: Understand the Weighted-Average MethodUnder the weighted-average method, the total cost of…
Q: Get correct answer accounting questions
A: Stockholders' Equity FormulaStockholders' equity is calculated as:Total Stockholders' Equity =…
Q: A cost is $3,600 at 1,000 units, $7,000 at 2,000 units, and $9,200 at 3,000 units. This cost is a A.…
A: 1. Introduction to Mixed CostsMixed costs are expenses that have both a fixed and variable…
Q: Kindly help me with accounting questions
A: The formula for computing the inventory turnover ratio is:Inventory Turnover Ratio = Cost of Goods…
Q: Hello teacher please help me this question
A: Step 1: Define Sales of A Target ProfitUnder the cost-volume-profit (CVP) analysis, the sales of a…
Q: Which ratio measures a company's ability to pay its short-term obligations? (a) Current ratio (b)…
A: Let's give it a try. To provide precise answer, I believe further reference is necessary, but I will…
Q: What is the receivables turnover ratio for bolton?
A: Step 2: Calculate Receivables Turnover RatioReceivables Turnover Ratio=Net Sales/ Average Accounts…
Q: What is your capital gain rate on these financial accounting question?
A: 1. Total Return• Step 1: Calculate the capital gain• Step 2: Add the dividend received to the…
Q: Financial Accounting
A: Step 1: Define Direct Material Price VarianceThe Direct Material Price Variance measures the…
Q: Want solution to this financial accounting question
A: Step 1: Information providedTotal asset turnover = 3.31Profit margin = 6.9% or 0.069Equity…
Q: Agni Corporation's net income for the year is $450,000. On June 30, a $0.75 per share cash dividend…
A: Approach to solving the question:Freeform Detailed explanation: To calculate the ending balance of…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Tax CalculationIncome tax in Australia is calculated based on progressive tax…
Q: Kroeger, Inc., has current assets of $1,970, net fixed assets of $9,650, current liabilities of…
A: Shareholders' Equity using the accounting equation: Assets=Liabilities+Shareholders' Equity…
Q: Subject:- General Account
A: Step 1: Understand the ProblemWe are tasked with finding the contribution margin per machine hour…
Q: Right answer
A: The question actual pertains to the asset turnover ratio. The asset turnover ratio measures how…
Q: Perfect Print purchased supplies worth $8,500 on January 1. By December 31, they had $2,300 worth of…
A: Step 1: To determine the supplies expense you need to get the difference between supplies purchased…
Q: General Accounting Question please answer
A: Step 1: Define Gross Profit PercentageThe gross profit percentage is a profitability metric that…
Q: What is the answer?
A: Explanation of Net Income:Net income is the profit earned by a company after deducting all expenses,…
Q: What will be the company's contribution margin?
A: Step 1: Define Contribution MarginThe contribution margin can be computed by deducting the variable…
Q: Get correct answer accounting questions
A: Step 1: Definition of Employer's Payroll TaxesEmployer's Payroll Taxes are additional expenses borne…
Q: RRR Stores has total debt of $6,666 and a debt-equity ratio of 0.59. What is the value of the total…
A: For this question we must compute for the total assets. An asset is a resource with economic value…
As of April 30, 2019, Marcus Tools has assets of $107,000 and liabilities of $26,000. How much is the owner's equity for Marcus Tools as of April 30, 2019?
Step by step
Solved in 2 steps
- Able Inc. borrowed $60,000 on October 1, 2019 and agreed to pay back $75,000 on October 1, 2022. How much did Able show in interest payable and interest expense in its annual financial statements at December 31, 2021? O Interest expense $5,000; interest payable $11,250 Interest expense $5,000; interest payable $3,750 O Interest expense $5,000; interest payable $5,000 Both interest expense and interest payable $11,250 O Interest expense is $11,250 and interest payable is $5,00OBernard King Co.'s (BKC) balance sheet shows $7150 in long term debt at the end of 2020. BKC paid $730 in interest during 2020 and cash flow to creditors for 2020 was -$850. How much long term debt was on BKC's balance sheet at the end of 2019?What was the interest revenue that techprime earned in this period?? General accounting
- For the year ended Dec. 31, 2020, The Company paid interest totaling P100,000. The prepaid interest expense is P23,500 and P18,000, respectively,on December 31, 2019and 2020. The interest payable is P45,000 and P53,500, respectively,on December 31, 2019and 2020. What amount of interest expense should be reported on December 31, 2020?What was the interest revenue that techprime earned in this period??On November 1, 2019, Holiday, Inc. received $16,000 that it would earn over the next 16 months. Which of the following correctly states the 2020 annual financial statements? Unearned revenue of $0; revenue of $16,000 O Unearned revenue of $2,000; revenue of $12,000 Unearned revenue of $2,000; revenue of $14,000 O Unearned revenue of $4,000; revenue of $12,000 Unearned revenue of $0; revenue of $0
- Under the accrual basis rental income of EL Company for the calendar year 2020 is P600,000. Additional information regarding rental income are presented below: Unearned rental income, January 1, 2020 P50,000 Unearned rental income, December 31, 2020 75,000 Accrued rental income, January 1, 2020 30,000 Accrued rental income, December 31, 2020 40,000 Under the cash basis, how much rental income should be reported by EL Company in year 2020? Group of answer choices d. P655,000 c. P625,000 b. P615,000 a. P585,000Ajam Inc. shows the following selected adjusted account balances at March 31, 2019: $ 58,000 102,000 Accounts Payable Wages Payable Accumulated Depreciation – Machinery Income Taxes Payable Note Payable, due May 15, 2021 Note Payable, due November 30, 2019 Mortgage Payable 69,000 92,000 108,000 64,000 320,000 71,000 Accounts Receivable Note: $240,000 of the mortgage payable balance is due one year beyond the balance sheet date; the remainder will be paid within the next 12 months. Required: Prepare the liability section of Ajam's March 31, 2019 balance sheet.What amount of interest expense would the company report in 2019 on these financial accounting question?
- On April 1, 2019, Flamengo Co. signed a one-year, 8% interest-bearing note payable for $50,000. Assuming that Flamengo Co. maintains its books on a calendar year basis, how much interest expense should be reported in the 2020 income statement? a.$1,000. B.$2,000. C.$4,000. D.$3,000. Which of the alternatives results from the accrual of interest: A.Increase in liabilities and decrease in stockholders' equity. B.Increase in assets and stockholders' equity. C.Increase in assets and liabilities. D.Increase in liabilities and increase in stockholders' equity. Unfortunately, Flamengo Co. is involved in a lawsuit. When would the lawsuit be recorded as a liability on the balance sheet? A.When the loss is probable and the amount can be reasonably estimated. B.When the loss probability is reasonably possible and the amount can be reasonably estimated. C.When the loss is probable regardless of whether the loss can be reasonably estimated. D.When the loss…Under accrual basis, rental income of Kamahal-Mahal Company for the year 2020 is P600,000. Additional information regarding the rental income are as follows: Unearned rental income, Jan. 1, 2020- P50,000 Unearned rental income, Dec. 31, 2020- P75,000 Accrued rental income, Jan. 1, 2020- P30,000 Accrued rental income, Dec. 31, 2020 P40,000 Under cash basis, how much is the rental income should be reported in year 2020? P585,000 P615,000 P625,000 P655,000On October 1, 2019, Donna Equipment signed a one-year, 8% interest-bearing note payable for $50,000. Assuming that Donna Equipment maintains its books on a calendar year basis (December 31 as fiscal year end), how much interest expense should be reported in the 2020 income statement? Select one: a. $2,000. b. $4,000. c. $1,000. d. $3,000.
