Business, 09.06.2020 14:57 smithmorgan773p35885

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $41,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2014. On that date, the following financial items for the year were determined: cash on hand and in the bank, $36,500; amounts due from customers from sales of books, $27,100; equipment, $40,000; amounts owed to publishers for books purchased, $7,600; one-year note payable to a local bank for $3,150. No dividends were declared or paid to the stockholders during the year. Complete the following balance sheet at December 31, 2014.

Assets Liabilities
Stock Holder's Equity

Cash:
Accounts Payable:
Common Staock:

Accounts receivable:
Notes Payable:
Retained earnings: 10,850

eguipment:
Total Liabilities:
Total Stock holder's equity:

Total liabilities and stock holder's equity

Total Assets:

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:30

Andrew cooper decides to become a part owner of a corporation. as a part owner, he expects to receive a profit as payment because he has assumed the risk of - serious inflation eroding the purchasing power of his investment.- being paid before the suppliers and employees are paid.- losing his home, car, and life savings.- losing the money he has invested in the corporation and not receiving profits.- the company giving all of the profits to local communities

Answers: 2

Answer

Business, 22.06.2019 10:40

Two assets have the following expected returns and standard deviations when the risk-free rate is 5%: asset a e(ra) = 18.5% σa = 20% asset b e(rb) = 15% σb = 27% an investor with a risk aversion of a = 3 would find that on a risk-return basis. a. only asset a is acceptable b. only asset b is acceptable c. neither asset a nor asset b is acceptable d. both asset a and asset b are acceptable

Answers: 2

Answer

Business, 22.06.2019 18:00

*will mark brainliest! * when a company spends resources (labor, money) to give customers "free" items, those costs are called a. investment costs b. economic costs c. scarcity costs d. opportunity costs answer asap!

Answers: 1

Answer

Business, 22.06.2019 22:20

Which of the following events could increase the demand for labor? a. an increase in the marginal productivity of workers b. a decrease in the amount of capital available for workers to use c. a decrease in the wage paid to workers d. a decrease in output price

Answers: 1

Answer

You know the right answer?

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $41,000 cash t...

Questions