As of June 15, 2022,Marlin Supplies has assets of $243,000 and liabilities of $87,000. How much is the owner's equity for Marlin Supplies as of June 15, 2022?
Q: Accounting solution and answer
A: Step 1: Definition of Gross Profit PercentageGross Profit Percentage is a financial metric that…
Q: What is its ROE?
A: As per DuPont Analysis, Return on Equity = Net Profit Margin * Total Asset Turnover * Equity…
Q: 4 PTS
A: Sales discounts, sales returns, and sales allowances reduce the total revenue a company reports.They…
Q: Accounting question
A: Step 1: Definition of Manufacturing Margin under Variable CostingThe manufacturing margin under…
Q: hello teacher please solve question
A: Step 1: Definition of Units-of-Production DepreciationUnits-of-Production Depreciation is a method…
Q: Please provide the correct answer to this general accounting problem using accurate calculations.
A: Step 1: Definition of Completed UnitsCompleted units refer to the units that were finished during a…
Q: Provide Answer
A: To calculate Return on Assets (ROA), we can use the formula:ROA=Net Income/Total Assets Step 1:…
Q: None
A: Step 1: Definition of Product Warranty ExpenseProduct Warranty Expense is an estimated cost recorded…
Q: Need help this question
A:
Q: how much more money can the bank create?
A: - To calculate how much more money the bank can create, we use the money multiplier formula: Money…
Q: Swamy Stationery Inc. budgeted production of 64,000 planners in 2023. Paper is required to produce a…
A: Concept of Budgeted Production:Budgeted production refers to the number of units a company plans to…
Q: Pays the freight charges? accounting question
A: Step 1: Definition of Cost Per UnitCost per unit refers to the total cost incurred to acquire or…
Q: Hy expert please solve this question
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct cost…
Q: Get correct answer with accounting question
A: Step 1: Definition of Accounting EquationThe Accounting Equation is the foundation of a company's…
Q: Please provide the accurate solution to this financial accounting question using valid calculations.
A: Step 1: Definition of Average Collection Period and Accounts ReceivableThe Average Collection Period…
Q: Can you solve this financial accounting question with accurate accounting calculations?
A: Step 1: Definition of EquityEquity represents the ownership interest or net worth of a business and…
Q: Vanguard's gross profit percentage is ?
A: Step 1: DefinitionsConcept of Gross Profit Percentage:Gross profit percentage is a financial metric…
Q: Please provide the solution to this general accounting question with accurate accounting…
A: Step 1: Definition of Break-even Sales RevenueBreak-even sales revenue is the amount of sales…
Q: Please provide the accurate answer to this general accounting problem using valid techniques.
A: Step 1: Definition of Over-applied and Under-applied Overhead Over-applied overhead occurs when the…
Q: Please explain the solution to this general accounting problem with accurate principles.
A: Step 1: Define Gross Profit and SalesGross Profit is calculated as Sales - Cost of Goods Sold…
Q: Can you explain the steps for solving this financial accounting question accurately?
A: Step 1: Define Price-Earnings RatioThe Price-Earnings Ratio (P/E) is a valuation metric used to…
Q: cost accounting
A: Step 1: Definition of Straight-Line MethodThe straight-line method is a common depreciation…
Q: Give me this question answer
A: Step 1: Definition of Over-Applied OverheadOver-applied overhead occurs when the amount of…
Q: What would be the cost of the land be recorded as?
A: Explanation of Cost Principle: The cost principle is a fundamental accounting concept that requires…
Q: - Cowl, Inc. Year ended December 31, 2007 • Net Sales: $600,000 Net Income: $150,000 Total Assets…
A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) measures how efficiently a…
Q: Can you help me solve this financial accounting question using the correct financial procedures?
A: Step 1: Define Profit MarginProfit margin is a financial ratio that shows the percentage of net…
Q: I am trying to find the accurate solution to this general accounting problem with the correct…
A: Step 1: Definition of Net Realizable Value (NRV) of Accounts ReceivableNet Realizable Value (NRV) of…
Q: What is hardy's direct labour price variance?
A: Step 1: Definitions Concept of Direct Labor Rate (or Price) Variance:The direct labor rate variance…
Q: I am searching for the correct answer to this general accounting problem with proper accounting…
A: Step 1: DefinitionsConcept of Other Comprehensive Income (OCI):Other Comprehensive Income includes…
Q: accounting
A: Understanding the P/E Ratio The Price-to-Earnings (P/E) ratio is calculated by dividing the current…
Q: I need the correct answer to this financial accounting problem using the standard accounting…
A: Step 1: Definition of Cash Paid for WagesCash paid for wages refers to the actual amount of money…
Q: give me answer with calculation
A: Step 1: Definition of Variable Cost and Fixed Cost (Using High-Low Method)Variable Cost refers to…
Q: Can you solve this financial accounting question with the appropriate financial analysis techniques?
A: Step 1: Definition of P/E Ratio The Price-to-Earnings (P/E) ratio is a valuation metric that…
Q: The closing price of a stock is $74.55, and the net earnings per share are $3.50. The stock's P/E…
A: Given Information:Closing Price of Stock = $74.55Net Earnings per Share (EPS) = $3.50 Formula:P/E…
Q: A manufacturing company applies overhead based on direct labor hours. At the beginning of the year,…
A: Explanation of Manufacturing Overhead: Manufacturing overhead represents all indirect production…
Q: Can you solve this general accounting question with accurate accounting calculations?
A: Step 1: Define Net IncomeNet income represents the company's total earnings or profit after…
Q: I need help finding the accurate solution to this financial accounting problem with valid methods.
A: Step 1: Definition of EquityEquity represents the residual interest in the assets of a business…
Q: Please provide the correct answer to this financial accounting problem using accurate calculations.
A: Step 1: Definition of Adjusted Book BalanceThe adjusted book balance is the revised ending balance…
Q: provide correct answer accounting question
A: Step 1: Definition of Stockholders' EquityStockholders' Equity (also called shareholders' equity or…
Q: Can you explain the correct approach to solve this financial accounting question?
A: Step 1: Definition of Income Summary Closing EntryThe Income Summary account is used during the…
Q: I need help finding the accurate solution to this general accounting problem with valid methods.
A: Step 1: Definition of Activity-Based Costing (ABC)Activity-Based Costing (ABC) assigns overhead…
Q: I don't need ai answer general accounting question
A: Step 1: Definition of Total Asset Turnover RatioThe Total Asset Turnover Ratio measures the…
Q: I am looking for the correct answer to this general accounting question with appropriate…
A: Step 1: Definition of Gross IncomeGross income refers to all income received by an individual before…
Q: Beta Ltd. manufactures a product and has provided the following contribution format income…
A: Step 1: Definition of Contribution MarginContribution Margin is the amount remaining from sales…
Q: Kindly help me with this General accounting questions not use chart gpt please fast given solution
A: Step 1: Define Accrued InterestAccrued interest refers to interest that has been earned on a…
Q: Solve with explanation and accounting question
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…
Q: if value is not showing properly then please comment i will write values don't solve with incorrect…
A: 1. Brightwood Seating - Contribution Margin per Machine Hour Selling Price per Unit=$55Variable…
Q: Can you solve this general accounting problem using accurate calculation methods?
A: Step 1: Definition of Direct Labor VarianceThe direct labor variance measures the difference between…
Q: How much is Crestview corporation's owner's equity?
A: Step 1: Definition of Owner's Equity Owner's equity, also known as shareholders' equity or simply…
Q: General Accounting
A: To calculate the license expense for the 6 months ended June 30, 2016, we need to amortize the cost…
As of June 15, 2022,Marlin Supplies has assets of $243,000 and liabilities of $87,000. How much is the owner's equity for Marlin Supplies as of June 15, 2022?
Step by step
Solved in 2 steps
- 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?As of June 15, 2023, Riverside Plumbing has assets of $142,500 and liabilities of $53,200. How much is the owner's equity for Riverside Plumbing as of June 15, 2023?As of April
- Jones Corp. had a total asset turnover of 4.0 in 2019 and had sales of $10.0 million. If the corresponding statement of financial position or balance sheet reported shareholders’ equity of $1.4 million, what were the total liabilities for Jones Corp.?Presented below is the balance sheet for HHD, Inc., at December 31, 2021. Current assets $ 608,000 Investments 506,000 Property, plant, and equipment 2,056,000 Intangible assets 204,000 Total assets $ 3,374,000 Current liabilities $ 408,000 Long-term liabilities 1,046,000 Shareholders' equity 1,920,000 Total liabilities and shareholders' equity $ 3,374,000 The captions shown in the summarized statement above include the following: Current assets: cash, $152,000; accounts receivable (net), $202,000; inventory, $227,000; and prepaid insurance, $27,000. Investments: investment in equity securities, short term, $92,000, and long term, $162,000; and restricted cash, long term, $252,000. Property, plant, and equipment: buildings, $1,520,000 less accumulated depreciation, $602,000; equipment, $520,000 less accumulated depreciation, $202,000; and land, $820,000. Intangible assets net of amortization: patent, $112,000; and…What is the amount of total assets?
- The current sections of Oriole Inc.'s balance sheets at December 31, 2021 and 2022, are presented here. Oriole's net income for 2022 was $152,400. Depreciation expense was $26,900. Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accrued expenses payable Accounts payable Total current liabilities 2022 $104,800 81,500 169,000 26,900 $382,200 $14,500 84,400 $98,900 2021 Adjustments to reconcile net income to $96,200 89,200 172,200 22,400 V $380,000 $9,800 95.900 Prepare the operating activities section of the company's statement of cash flows for the year ended December 31, 2022, using the indirect method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15,000).) $105,700 ORIOLE INC. Partial Statement of Cash Flows $ OPresented below is the balance sheet for HHD, Inc., at December 31, 2021. Current assets Investments Property, plant, and equipment Intangible assets Total asseta Current liabilities Long-term liabilities Shareholders' equity Total liabilities and shareholders' equity $ 612,000 509,000 2,084,000 206,000 $3,411,000 $412,000 1,019,000 1,980,000 $3,411,000. The captions shown in the summarized statement above include the following: a. Current assets: cash, $153,000; accounts receivable (net). $203,000; inventory, $228,000; and prepaid insurance, $28,000. b. Investments; investment in equity securities, short term, $93,000, and long term, $163,000; and restricted cash, long term, $253,000. c. Property, plant, and equipment buildings, $1,530,000 less accumulated depreciation, $603,000; equipment, $530,000 less accumulated depreciation, $203,000; and land, $830,000. d. Intangible assets net of amortization: patent, $113,000; and copyright, $93,000. e. Current liabilities: accounts payable,…Please show your work and explain how you got your answers.
