Business, 11.03.2020 23:11 asmaamasto

On January 1, 2021, Red Flash Photography had the following balances: Cash, $29,000; Supplies, $9,700; Land, $77,000; Deferred Revenue, $6,700; Common Stock $67,000; and Retained Earnings, $42,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $37,000. 2. May 20 Provide services to customers for cash, $52,000, and on account, $47,000. 3. August 31 Pay salaries to employees for work in 2021, $40,000. 4. October 1 Purchase rental space for one year, $29,000. 5. November 17 Purchase supplies on account, $39,000. 6. December 30 Pay dividends, $3,700. The following information is available on December 31, 2021: Employees are owed an additional $5,700 in salaries. Three months of the rental space has expired. Supplies of $6,700 remain on hand. All of the services associated with the beginning deferred revenue have been performed.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 18:00

You want to make an investment in a continuously compounding account over a period of two years. what interest rate is required for your investment to double in that time period? round the logarithm value and the answer to the nearest tenth.

Answers: 3

Answer

Business, 21.06.2019 20:20

Miller mfg. is analyzing a proposed project. the company expects to sell 8,000 units, plus or minus 2 percent. the expected variable cost per unit is $11 and the expected fixed costs are $287,000. the fixed and variable cost estimates are considered accurate within a plus or minus 5 percent range. the depreciation expense is $68,000. the tax rate is 32 percent. the sales price is estimated at $64 a unit, plus or minus 3 percent. what is the earnings before interest and taxes under the base case scenario?

Answers: 1

Answer

Business, 22.06.2019 11:00

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.

Answers: 3

Answer

Business, 22.06.2019 20:20

You are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s. assembly operations. the subsidiary has been financed by bank borrowings in the united states. one of your analysts told you that the mexican peso is expected to depreciate by 30 percent against the dollar on the foreign exchange markets over the next year. what actions, if any, should you take

Answers: 2

Answer

You know the right answer?

On January 1, 2021, Red Flash Photography had the following balances: Cash, $29,000; Supplies, $9,70...

Questions