answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
satela [25.4K]
2 years ago
6

The following information is for Bright Eyes Auto Supplies: Bright Eyes Auto Supplies Balance Sheet December 31, 2015 Cash $ 40,

000 Accounts Payable $ 130,000 Prepaid Insurance 80,000 Salaries and Wages Payable 50,000 Accounts Receivable 100,000 Mortgage Payable 150,000 Inventory 140,000 Total Liabilities 330,000 Land Held for Investment 180,000 Land 250,000 Buildings $200,000 Common Stock $400,000 Less Accumulated Retained Earnings 340,000 740,000 Depreciation (60,000) 140,000 Trademark 140,000 Total Assets $1,070,000 Total Liabilities and Stockholders’ Equity $1,070,000 The total dollar amount of liabilities to be classified as current liabilities is:_________.
A. $180,000.
B. $130,000.
C. $50,000.
D. $330,000.
Business
1 answer:
erma4kov [3.2K]2 years ago
8 0

Answer:

$180,000

Explanation:

Relevant Data provided to compute the total current liabilities is here below:-

Accounts payable = $130,000

Salaries and wages payable = $50,000

The computation of total dollar amount of liabilities is shown below:-

Total current liabilities = Accounts payable + Salaries and wages payable

= $130,000 + $50,000

= $180,000

Therefore for computing the total current liabilities we simply added the accounts payable and salaries and wages payable.

You might be interested in
A sole proprietor owned an office building with a cost of $300,000 and accumulated depreciation of $40,000, using modified accel
hjlf

Answer:

The Correct Answer:

$40,000

Explanation:

IRC Section 1250 requires that excess depreciation (actual depreciation in excess of straight-line depreciation) be recaptured as ordinary income. Since the property has sold for more than the adjusted basis ($300,000 − $40,000 = $260,000 adjusted basis), the initial gains are recaptured based on the original purchase price of $300,000.

<em>This makes the first $40,000 of the profit subject to the unrecaptured Section 1250 gain while the remaining $20,000 is considered regular long-term capital gains. </em>

6 0
2 years ago
1. All of the following are good financial savings strategies EXCEPT ___. (1 point)
jarptica [38.1K]

All of the following are good financial savings strategies EXCEPT "saving for an emergency fund, then paying off credit debt".

<u>Option: B</u>

<u>Explanation:</u>

An effective financial system can encourage savings by offering simple and convenient exposure to suitable savings tools provided at reasonable price by high-quality, reputable institutions. The emergency funds through your earning years can be extremely valuable, if you lose your job or are unable to work due to a temporary injury or after retirement, so you need cash to cover your regular bills.

Here saving for emergency fund, then paying off credit card is blunder idea, because interest rate may become huge load, and if not paid and simultaneously retirement or any tragedy take place which donot permit to continue job than there will be burden from two sides i.e paying regular bills and credit card's principal amount with interest.

4 0
2 years ago
PROJECT FOCUS: One day, a sophisticated business man walks into the cafe and asks to speak to the owner. He introduces himself a
Jet001 [13]

Answer:

Explanation:

Solution

At first, we will determine that whether we have communicated to our customers in a past that we will keep their information confidential and never be sold to any other person or business for any future marketing. If we have made such communication, then we should take information confidential and do not give to others.Similarly, if there is no confidentiality communication made in a past, then we can put an offer towards Brawner. We offer him that instead of providing phone numbers and email to him, pay tome, we will email and call the customers and let them know about Brawner and local record store. So in case any customers want something, they will contact directly to you (Brawner) or his shop.

8 0
2 years ago
Assume that activity G has the following times: Early start time 7 days Early finish time 13 days Late start time 15 days Late f
Aloiza [94]

Answer:

The correct answer is Activity G has s slack time of 8 days.

5 0
2 years ago
Five hundred small almond growers operate in areas with plentiful rainfall. The marginal cost of producing almonds in these loca
notka56 [123]

Answer:

Explanation:

Where Price equals marginal cost ( MC ) , supply will be made .

A ) Supply curve for rainfed area  almond growers

P = .02 Q

Q = 50 P

Supply curve for drier area growers

P = .04 Q

Q = 25 P

B ) No of growers of rainfed area = 500

no of growers of dry area = 300

Total supply = Qs = 50 P x 500 + 25 P x 300

= 25000 P + 7500 P = 32500 P

C )

Market demand Qa = 105000 - 2500 P

For equilibrium Qa = Qs

32500 P = 105000 - 2500 P

35000 P = 105000

P = 3

D ) Qs = 32500 x 3 = 97500 .

E ) amount by rainfed growers

= 500 x 50 x 3 = 75000

amount by dry area growers = 300 x 25 x 3 = 22500

7 0
2 years ago
Other questions:
  • A white man places a rental property he owns on craigslist to rent it out for the next year. he receives two very promising appl
    6·2 answers
  • Sarah transferred $450.00 from her savings account to her checking account. She’ll use the check register to record her transact
    5·2 answers
  • On July 1, Mabel and Pierre formed a partnership, agreeing to share profits and losses in the ratio of 4:6, respectively. Mabel
    15·1 answer
  • Chill, a beverage manufacturer, offers varied versions of its products that include diet, cherry, vanilla and caffeine-free vers
    11·1 answer
  • Sue hired an attorney to help her draft a purchase and sale agreement for her new home. The home is an example of a product that
    15·1 answer
  • Company C is identical to Company D in every respect except that Company C uses LIFO and Company D uses average costs. In an ext
    12·1 answer
  • A football game between the Thunder and the Sharks is in its closing minutes, with the Thunder ahead by 20 points. The Thunder’s
    7·1 answer
  • Heidi Ganahl says Camp Bow Wow promotes a scrappy "we-can-conquer-all" work attitude that helps individuals overcome challenges.
    6·1 answer
  • Carl is a self-employed real estate agent. For the current year, his self-employment net earnings (revenues minus expenses) are
    7·1 answer
  • Shannon and Ian, student consultants, chose a home construction business as a client for a semester strategic planning assignmen
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!