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Kaylis [27]
2 years ago
14

Sunland Company’s December 31, 2020, trial balance includes the following accounts: Inventory $124,900, Buildings $208,800, Accu

mulated Depreciation-Equipment $27,400, Equipment $198,900, Land (held for investment) $48,700, Accumulated Depreciation-Buildings $45,900, Land $62,800, and Timberland $74,500.Prepare the property, plant, and equipment section of the balance sheet. (List Property, Plant and Equipment in order of Land, Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

Business
1 answer:
aniked [119]2 years ago
6 0

Answer:

Explanation:

Before preparing the property, plant, and equipment section, we need to first calculate the total assets amount which equals to

= Land + Land (held for investment) + Building - Building Accumulated Depreciation + Equipment - Accumulated Depreciation of Equipment

= $62,800 + $48,700 + $208,800 - $45,900 + $198,900 - $27,400

= $445,900

The preparation of property, plant, and equipment section of the balance sheet is presented in the spreadsheet. Kindly find the attachment below:

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Summers, Inc., has net income of $50 million in the current year. Stockholders’ equity at the beginning and the end of the curre
vovikov84 [41]

Answer:

ROE = 33.33%

Explanation:

<em><u>return on equity:</u></em>

\frac{income}{average \: equity}

<em><u>where:</u></em>

Average equity

$$(beginning + ending equity) \div 2

(140 + 160) / 2 = 150

return on equity : 50 / 150 = 1/3 = 0.3333 = 33.33%

The ROE measures the effectiveness of the managers to generate profit with their current net assets(equity)

This ROE of 33.33% rrepresent that for every dollar of equity the company generates 33 cents of income

5 0
2 years ago
Abbey Corporation paid $450 for an advertisement that appeared in last Sunday’s Kansas City Star. How does this transaction impa
PolarNik [594]

Answer:

The correct answer is: Cash outflow in the operating section.

Explanation:

The statement of cash flows is the basic financial statement that shows the cash generated and used in the operation, investment and financing activities. The change of the different items in the Balance Sheet that affect cash must be determined for its implementation.

The purpose of the statement of cash flows has to do with informing the generation and use of cash and cash equivalents in relation to operation, financing and investment activities.

The objective of this statement is to present pertinent and concise information, relating to cash collections and disbursements of an economic entity during a period so that users of financial statements have additional elements to examine the entity's ability to generate future cash flows. effective, to assess the ability to meet its obligations, determine internal and external financing, analyze the changes presented in cash, and establish the differences between net income and collections and disbursements.

4 0
2 years ago
On May 18th, you purchased 1,000 shares of Buy Lo stock. On June 5th, you sold 200 shares of this stock for $21 a share. You sol
enot [183]

Answer:

Dividend income received = $400

Explanation:

Given:

May 18th        Purchased         1,000 shares

June 5th            Sold                 200 shares

July 8th             Sold                  400 shares

declared dividend on June 25th to holders

Dividend amount = $0.50 per share

Computation of dividend income received:

Balance of share on June 25th = May 18th (Purchase) - June 5th (Sold)

Balance of share on June 25th = 1,000 - 200

Balance of share on June 25th = 800 shares

Dividend income received = Balance of share on June 25th × Dividend amount

Dividend income received = $.50 × (1,000 share - 200 share)

Dividend income received = $400

8 0
2 years ago
Yvette is a customer of Apexon Bank, which is a member of the FDIC. She currently has a checking account that has $17,371 and a
GaryK [48]
Yvette has a checking account with $17,371 and a savings account with $240,000. Her combined money in Apexon Bank is $257,371. 

To know how much of Yvette's money is protected you must note that:
FDIC insures: checking, savings, money market deposits and certificates of deposit. FDIC protects against $250,000 combined. 

Since Yvette has $257,371 the FDIC protects against $250,000 of that amount leaving $7,371 unprotected. 
4 0
2 years ago
Leo received $7,500 today and will receive another $5,000 two years from today. He will invest these funds when he receives them
alekssr [168]

Answer:

Value of Investment= Principal (1+Rate of return)^Number of periods

For the first investment the principal is 7,500, the rate of return is 11.5% and the number of periods are 5 so the value of the investment will be

7,500 (1+0.115)^5=12,925

For the second investment the principal is 5,000, the rate of return is 11.5 and the number of periods are 3 as the 5,000 is invested two years from today.

5,000*(1+0.115)^3=6,931

Total value of investments = 12,925 +6,931 = $19,856

8 0
1 year ago
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