Business, 18.03.2021 01:30 nassercruz04
The comparative balance sheets for Beneteau Company appear below: BENETEAU CORPORATION Comparative Balance Sheet 2020 2019 Assets Cash $37,000 $31,000 Accounts receivable (net) 80,000 60,000 Prepaid insurance 22,000 17,000 Land 18,000 40,000 Equipment 67,000 60,000 Accumulated depreciation (17,000 ) (13,000 ) Total assets $207,000 $195,000 Liabilities and Stockholder's Equity Accounts payable $12,000 $6,000 Bonds payable 27,000 19,000 Common stock 140,000 115,000 Retained earnings 28,000 55,000 Total liabilities and stockholder's equity $207,000 $195,000 Additional information: 1. Net loss for 2020 is $12,000. Net sales for 2020 are $250,000. 2. Land was sold for cash at a loss of $2,000. This was the only land transaction during the year. 3. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 4. The company issued and retired bonds in the current year. Retirement of bonds was $12,000. 5. Equipment was purchased for $22,000. 6. Stock was issued for $25,000 Prepare a statement of cash flows for the year ended December 31, 2020, using the indirect method.
Answers: 2
Business, 23.06.2019 01:50, breannaasmith1122
The de mesa family will soon be occupying their newly renovated house. however, the bathroom measuring 10ft. by 16 ft. still needs to be covered by tiles. if the tile that they desire measures 2/5 ft by 2/5 ft., how many tiles will they need to cover the bathroom floor?
Answers: 3
Business, 23.06.2019 13:50, raymondmunoz4451
In ledland, unemployed adults receive government assistance. to reduce unemployment, the government proposes to supplement the income of those who accept jobs that pay less than government assistance, thus enabling employers to hire workers cheaply. however, the supplement will not raise any worker's income above what government assistance would provide if he or she were not gainfully employed. therefore, unemployed people will have no financial incentive to accept jobs that would entitle them to the supplement. which of the following, if true about ledland, most seriously weakens the argument of the editorial? (a) the government collects no taxes on assistance it provides to unemployed individuals and their families.(b) neighboring countries with laws that mandate the minimum wage an employer must pay an employee have higher unemployment rates than ledland currently has.(c) people who are employed and look for a new job tend to get higher-paying jobs than job seekers who are unemployed.(d) the yearly amount unemployed people receive from government assistance is less than the yearly income that the government defines as the poverty level.(e) people sometimes accept jobs that pay relatively little simply because they enjoy the work.
Answers: 3
The comparative balance sheets for Beneteau Company appear below: BENETEAU CORPORATION Comparative B...
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