Answer: should be ignored in all earnings per share calculations.
Explanation:
Antidilutive securities are the financial instruments that will lead to a rise in the earning per share when such financial instruments are changed to common stock.
Antidilutive securities should be ignored in all earnings per share calculations. This is because new shares are being offset when such acquisition takes place leading to a rise in the earning per share.
Sraibn271 Corporation has two divisions: Domestic Division and Foreign Division. Last month, the corporation reported a contribution margin of $46,400 for Domestic Division. Foreign Division had a contribution margin ratio of 35% and its sales were $243,000. Net operating income for the Sraibn271 Corporation was $36,800 and traceable fixed expenses were $51,000.
(ID#19361)
What were Sraibn271 Corporation's common fixed expenses?
a) $131,450
b) $43,650
c) $51,000
d) $94,650
Answer: b) $43,650
Explanation:
Contribution margin of Domestic division + contribution margin of Foreign division - traceable fixed cost - common fixed cost = Net operating income for company
46,400 + (0.35 * 243,000) - 51,000 - Common = 36,800
80,450 - Common = 36,800
Common = 80,450 - 36,800
= $43,650
Perpetual Inventory Using Weighted AverageBeginning inventory, purchases, and sales for J101 are as follows:Oct. 1 Inventory480 units at $1413 Sale280 units22 Purchase600 units at $1629 Sale450 unitsa. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to two decimal places.$fill in the blank 1160.44 per unit
Answer:
The weighted average unit cost after the October 22 purchase is $15.50
Explanation:
Under the weighted average method of inventory valuation, the closing inventory is valued at weighted average cost.
It can be calculated as follow
Weighted average unit cost = Inventory Balance / Numbers on units in Inventory
_________________________________ Balance
Date __ Details ___Units_ Rate__Value _ ( Units_Value __ WA cost )
Oct. 1 _ Inventory__480__ $14 __$6,720_( 480__$6,720__ $14 )
Oct.13 _Sale______280__ $14 __$3,920_( 200__$2,800__ $14 )
Oct.22 _Sale_____ 600__ $16 __$9,600_( 800__$12,400__$15.5 )
Placing outstanding values in the above formula
Weighted average unit cost = $12,400 / 800 units = $15.50 per unit
what are the three basic types of issues that arise in business finance?
Answer:
Capital Budgeting, Capital Structure Decisions, and working Capital Management.
Select the examples of layoffs. Check all that apply. India loses her job as an Urban Planner because the city ran out of funding. Tori loses her job as a Foreign Service Officer because she is not good at communicating with or negotiating with foreign officials. Hunter loses his job as a Tax Examiner because he keeps making mistakes. Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Answer:
Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Explanation:
A layoff refers to the termination of an employment contract due to a shortage of work. Employers initiate layoffs. They may be a temporary suspension of employment or permanent termination.
Layoffs are not a result of an employee's fault or incompetency. They may be caused by declining revenue, some operations' shutdown, automation of processes, and outsourcing of some services.
Fidel's case was a layoff. There was no work available for him after his department was shutdown.
Answer:
A.) India loses her job as an Urban Planner because the city ran out of funding.
D.) Fidel loses his job as an Eligibility Interviewer because Legislators decided to cut his department, even though Fidel was very good at his job.
Explanation:
I don't have an explanation but I did get this right on edge
g Coronado Industries sold some of its plant assets during 2021. The original cost of the plant assets was $902000 and the accumulated depreciation at date of sale was $842000. The proceeds from the sale of the plant assets were $89800. The information concerning the sale of the plant assets should be shown on Coronado's statement of cash flows (indirect method) for the year ended December 31, 2021, as a(n)
Answer and Explanation:
Since the following information is mentioned in the question
The purchase cost is $902,000
Accumulated depreciation is $842,000
The proceeds from the sale of plant asset is $89,800
So based on the above information, the sale of the plant asset would be shown in the investing activities of the cash flow statement in a positive amount
Hence it would be reported under the investing activities section
g Machinery was purchased for $400000 on January 1, 2022. Freight charges amounted to $14000 and there was a cost of $36000 for building a foundation and installing the machinery. It is estimated that the machinery will have a $50000 salvage value at the end of its 4-year useful life. What is the amount of accumulated depreciation at December 31, 2023 if the straight-line method of depreciation is used
Answer:
Accumulated depreciation at December 2023 = $200000
Explanation:
The cost of a fixed asset should be reported as the cost of buying the asset plus any cost incurred in bringing the asset in the location and condition necessary for its use as deemed by the management. Thus, the cost of machinery as reported will be,
Machinery Cost = 400000 + 14000 + 36000 = $450000
The straight line method charges a constant depreciation expense through out the useful life of the asset. The formula for depreciation under this method is,
Depreciation expense per year = (Cost - Salvage value) / Estimated useful life
Depreciation expense - 2022 = (450000 - 50000) / 4
Depreciation expense - 2022 = $100000
Depreciation expense - 2023 = (450000 - 50000) / 4
Depreciation expense - 2023 = $100000
Accumulated depreciation at December 2023 = 100000 + 100000 = $200000
Diamond and Turf Inc. is considering an investment in one of two machines. The sewing machine will increase productivity from sewing 130 baseballs per hour to sewing 234 per hour. The contribution margin per unit is $0.48 per baseball. Assume that any increased production of baseballs can be sold. The second machine is an automatic packing machine for the golf ball line. The packing machine will reduce packing labor cost. The labor cost saved is equivalent to $26 per hour. The sewing machine will cost $305,500, have an eight-year life, and will operate for 1,400 hours per year. The packing machine will cost $131,800, have an eight-year life, and will operate for 1,200 hours per year. Diamond and Turf seeks a minimum rate of return of 12% on its investments.Present Value of an Annuity of $1 at Compound InterestYear 6% 10% 12% 15% 20%1 0.943 0.909 0.893 0.870 0.8332 1.833 1.736 1.690 1.626 1.5283 2.673 2.487 2.402 2.283 2.1064 3.465 3.170 3.037 2.855 2.5895 4.212 3.791 3.605 3.353 2.9916 4.917 4.355 4.111 3.785 3.3267 5.582 4.868 4.564 4.160 3.6058 6.210 5.335 4.968 4.487 3.8379 6.802 5.759 5.328 4.772 4.03110 7.360 6.145 5.650 5.019 4.192A. Determine the net present value for the two machines. Use the table of present values of an annuity of $1 above.B. Determine the present value index for the two machines.C. If Diamond and Turf has sufficient funds for only one of the machines and qualitative factors are equal between the two machines, in which machine should it invest?
Answer:
A) Sewing machine:
initial outlay = -$305,500
net cash flow per year = (234 baseballs per hour - 130 baseballs per hour) x 1,400 hours x $0.48 per baseball = $69,888
NPV = -$305,500 + ($69,888 x 4.968) = -$305,500 + $347,203.58 = $41,703.58
Packing machine:
initial outlay = -$131,800
net cash flow per year = 1,200 hours x $26 per hour = $31,200
NPV = -$131,800 + ($31,200 x 4.968) = -$131,800 + $155,001.60 = $23,201.60
B) PVI of sewing machine = $347,203.58 / $305,500 = 1.137
PVI of packing machine = $155,001.60 / $131,800 = 1.176
C) They should invest in the packing machine since its PVI is higher, meaning that it increases the company's value by a higher amount per dollar invested.
Mentor Corp. has provided the following information for the current year: Units produced 3,500units Sale price$200per unit Direct materials$70per unit Direct labor$55per unit Variable manufacturing overhead$20per unit Fixed manufacturing overhead$350,000per year Variable selling and administrative costs$30per unit Fixed selling and administrative costs$150,000per year Calculate the unit product cost using variable costing.
Answer:
the unit product cost using variable costing is $145 per unit
Explanation:
The computation of the unit product cost using variable costing is as follows:
= Direct materials per unit + direct labor per unit + variable overhead per unit
= $70 + $55 + $20
= $145 per unit
Hence the unit product cost using variable costing is $145 per unit
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Which business is exempt from using the accrual basis for accounting? A clothing manufacturer that has average gross annual receipts of $35 million over the last three years. An online retailer that has average gross annual receipts of $45 million over the last three years. A construction contractor who does not have any outstanding accounts receivable at the end of the tax year. A home improvement store that just began business last year and had $2.7 million in gross receipts.
Answer:
A home improvement store that just began business last year and had $2.7 million in gross receipts.
Explanation:
The IRS allows only a limited number of businesses to use cash basis accounting and in order to do so, the business must be:
Partnership or C corporation with less than $5 million in total sales revenue per yearSole proprietorship or S corporation with less than $1 million in total sales revenueCannot be a publicly traded corporationPersonal service businesses with more than 95% of revenue specifically related to services. Family owned farms with total annual sales revenue less than $25 million.which of these statements reflects a long-term goal
A- "I want to be a public relation specialist"
B- " I want to pass my state licensing exam"
C- "I want to enroll in weekend classes"
Answer:
A. "I want to be a public relation specialist"
Explanation:
"I want to be a public relation specialist" of these statements reflects a long-term goal.
What is the statement?Statements are sentences that express a fact, idea, or opinion. Statements do not ask questions, make requests or give commands. They are also not utterances. Statements are sentences that express a fact, idea, or opinion. Statements do not ask questions, make requests or give speech acts. They are also not exclamations.
A corporation or organization's public image is created and maintained by public relations professionals. They produce material, such as press releases and social media posts, that influence public perception of the business or organization and raise brand recognition. statement
This concept is significant to the ethnographic interview process by conducting an ethnographical interview, the interviewer is attempting to gain a good understanding of the social difficulties in which clients and their family units exist and how they perceive and understand those situations.
Therefore, option (A) is correct.
Learn more about the statement here:
https://brainly.com/question/2285414
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Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their expectations quickly if they found anti-inflation policy credible. b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible. c. could be low because it was rational for people not to immediately change their expectations. d. could be high because it was rational for people not to immediately change their expectations.
Answer:
b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible
Explanation:
In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible
Therefore as per the given situation, the option b is correct
what is a living will?
A. legal documents that gives directives on how things should be given to beneficiaries when you die.
B. legal document that begins with “this is my last will and testament”
C. legal document that states end of life medical care
D. legal document that names executors and provides codicils.
Answer:
I think it's B)
Explanation:
sorry if I get it wrong
Answer:
c is the correct answer
Explanation:
Analysts look for red flags in financial statements that may signal financial trouble. Which of the following is a red flag that suggests that a company may be in trouble? A. a consistent movement in sales, merchandise inventory, and accounts receivable B. operating activities are a major source of cash flows C. a significant decrease in net income for several years in a row D. a reduction in the debt ratio
Answer:
C. a significant decrease in net income for several years in a row
Explanation:
A significant decrease in net income for several years in a row show that the firm is generating less revenue or its expenses are generally increasing at a rate greater than the sales. This may soon lead into a loss. A loss making firm will eventually have challenges in cashflow. So, this signals financial trouble.
According to the Kinked Demand Curve Model, If one firm operating in an oligopoly raises its price and other firms do not do so, A. the sales of the firm with the higher price will decline slightly. B. the egos of all the top executives will eventually lead to cooperation at that higher price. C. the sales of the firm that increased its price will decline sharply. D. the firm with the increased price will have its higher profits sustained through cooperation.
Answer:
C. the sales of the firm that increased its price will decline sharply.
Explanation:
A kinked demand curve is basically a demand curve that changes direction at an specific point (generally the equilibrium price). When you are dealing with oligopolies, generally competing firms will match price cuts but they will not follow if instead the price increases.
If only one of the oligopolistic competitors increases their price while the others remain stable, sales volume will decrease. Kinked models are based on the assumption that oligopolies will compete focusing on factors other than price.
A company had a beginning balance in retained earnings of $43,300. It had net income of $6,300 and declared and paid cash dividends of $5,700 in the current period. The ending balance in retained earnings equals:
Cost standards for one unit of product no. C77: Direct material 3 pounds at $2.50 per pound $ 7.50 Direct labor 5 hours at $7.50 per hour 37.50 Actual results: Units produced 7,800 units Direct material purchased 26,000 pounds at $2.70 $ 70,200 Direct material used 23,100 pounds at $2.70 62,370 Direct labor 40,100 hours at $7.30 292,730 Use the information to compute the following variances. The standard hours allowed for the work performed are:
Answer:
Standard hours allowed= 39,000
Explanation:
Giving the following information:
Standard direct labor hours per unit= 5 hours
Actual results:
Units produced 7,800 units
To calculate the standard hours allowed, we need to multiply the number of units produced for the unitary standard direct labor hours:
Standard hours allowed= 7,800*5
Standard hours allowed= 39,000
Big Fork Lumber Company incurs a cost of $402 per hundred board feet (hbf) in processing certain "rough-cut" lumber, which it sells for $540 per hbf. An alternative is to produce a "finished cut" at a total processing cost of $523 per hbf, which can be sold for $668 per hbf. Prepare a differential analysis dated August 9 on whether to sell rough-cut lumber (Alternative 1) or process further into finished-cut lumber (Alternative 2).
Answer and Explanation:
The preparation of the differential analysis is presented below:
Particulars Sell Rough cut Process Differential
(Alternative 1) Further into Effect on income
Finished cut (Alternative 2)
(Alternative 2)
Revenues
per 100 board feet $540 $668 $128
Cost per $100
Board ft -$402 -$523 -$121
Income
or loss
per 100 board $138 $145 $7
In the case when the product would get process further so there is an increase in revenue by $7
People work for many different reasons, including to be around others and to make a co
Please select the best answer from the choices provided
T
F
Answer:
True
Explanation:
People work for different and diverse reasons. The most common one is to earn their livelihood. However, there are those with sufficient resources to last a lifetime, but they still work.
Some people indeed go to work to be with others. They find identity and comfort in the workplace. To them, work is not about making money, but working is a way of life. A workplace provides social and emotional support to such people, which is important to them more than monetary compensation.
Brizendine, Inc., manufactures and sells two products: Product R0 and Product B6. The production of Product R0 is 900 units and of Product B6 is 700 units. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product R0 Product B6 Total
Labor-related DLHs $ 507,394 7,200 3,500 10,700
Product testing tests 9,464 300 500 800
Order size MHs 501,205 3,100 2,800 5,900
$ 1,018,063
The overhead applied to each unit of Product R0 under activity-based costing is closest to what?: (Round your intermediate calculations to 2 decimal places.)
a. $675.91 per unit
b. $292.61 per unit
c. $761.20 per unit
d. $636.29 per unit
Answer:
the overhead cost per unit is $675.91
Explanation:
The computation of the overhead applied to each unit is as follows:
Labour related ($507,394 ÷ $10,700 × $7,200) $341,424
Product testing ($9,464 ÷ 800 × 300) $3,549
Order size ($501,205 ÷ $5,900 × $3,100) $263,345
Total overhead $608,318
Divided by Units 900
Overhead cost per unit $675.91
hence, the overhead cost per unit is $675.91
Therefore the correct option is a.
At which stage of project management do you need to discuss and clarify doubts about the project with the client?
А. risk mitigation
B. project Initiation
C. project planning
D. project execution
Answer:
C. Project Initiation
Explanation:
You typically should sort out all questions and concerns about a project to a client before the actual work on the project begins. Project Initiation is sort of pre-planning: it is pitching an idea to a client.
Risk mitigation is esentially risk management, or fixing problems after they arise.
Project planning is the beginning of the project where you map out the path you'd take to execute the idea.
Project execution is the actual work that is done to complete the project.
Answer:
B. project initiation
(got it right on edmentum)
be sure to check the picture below fro more secure to getting this question rightExplanation:
Consider the following financial statements about DANIEL Co. for the current year 2015
I/S for the year ended Dec. 31, 2015
Sales $16,000
CGS 10,000
Operating expenses 4,000
Profit from operations (EBIT) 2,000
Interest expense 200
EBT 1,800
Tax expense 600
NI $ 1,200
Additional information:
Operating expenses include $150 of depreciation expense and a $200 impairment loss on equipment.
A/R increased by $380
Inventory decreased by $100
Prepaid expenses related to operating expense increased by $80
A/P decreased by $360
Accrued liabilities related to operating expenses decreased by $180
Interest payable decreased by $20
Unearned revenue received from customers decreased by $34
Income tax payable increased by $40
Required:
Prepare CFO section of the cash flow statement under the (a) DIRECT (12 marks);
and (b) INDIRECT methods (8 marks)
Answer:
a. For the Year Ended December 31, 2015
Cash flows from operating activities:
Cash received from customers 15586
Cash paid to suppliers -10260
Cash paid for operating expenses -3910
Cash paid for interest -220
Cash paid for income taxes -560
Net cash flow from operating activities 636
Working:
Sales 16000
Less: Increase in accounts receivable -380
Less: Decrease in unearned revenue -34
Cash received from customers 15586
Cost of goods sold 10000
Add: Decrease in accounts payable 360
Less: Decrease in inventory -100
Cash paid to suppliers 10260
Operating expenses 4000
Less: Noncash expenses
Depreciation expense -150
Impairment loss -200
Cash operating expenses 3650
Add: Increase in prepaid expenses 80
Add: Decrease in accrued liabilities 180
Cash paid for operating expenses 3910
Interest expense 200
Add: Decrease in interest payable 20
Cash paid for interest 220
Income tax expense 600
Less: Increase in income tax payable -40
Cash paid for income taxes 560
(b) Partial Cash Flow Statement (Indirect Method)
For the Year Ended December 31, 2015
Cash flows from operating activities
Net income 1200
Adjustments to reconcile net
income to operating cash flows:
Depreciation expense 150
Impairment loss 200
Increase in accounts receivable -380
Decrease in inventory 100
Increase in prepaid expenses -80
Decrease in accounts payable -360
Decrease in accrued liabilities -180
Decrease in interest payable -20
Decrease in unearned revenue -34
Increase in income tax payable 40 -564
Net cash flow from operating activities 636
The stock of Stock M has a beta of 1.48 and an expected return of 12.50 percent. The risk-free rate of return is 5 percent. What is the expected return on the market?
Answer:
10.07%
Explanation:
Calculation for the Expected return
Using this formula
Expected return =(Expected return-Risk-free rate)/Beta+Risk-free rate
Let plug in the formula
Expected return=(0.125 –0.05)/1.48 + 0.05
Expected return=0.075/1.48+0.05
Expected return=0.05068+0.05
Expected return=0.1007*100
Expected return=10.07%
Therefore the expected return on the market will be 10.07%
Newton Manufacturing has 31,000 labor hours available for producing M and N. Consider the following information: Product M Product N Required labor time per unit (hours) 2 3 Maximum demand (units) 6,500 8,000 Contribution margin per unit $ 5 $ 5.70 Contribution margin per labor hour $ 2.50 $ 1.90 If Newton follows proper managerial accounting practices in terms of setting a production schedule, how much contribution margin would the company expect to generate
Answer:
total contribution margin = $68,500
Explanation:
31,000 hours of labor available
Product M Product N
Required labor time per unit (hours) 2 3
Maximum demand (units) 6,500 8,000
Contribution margin per unit $5 $5.70
Contribution margin per labor hour $2.50 $1.90
since the constraint here is the total number of labor hours, the company must first produce the product that generates the highest contribution margin per labor hour = product M.
total units produced of product M = 6,500
total labor hours required = 6,500 x 2 = 13,000
contribution margin product M = 13,000 x $2.50 = $32,500
remaining labor hours = 31,000 - 13,000 = 18,000
total units of product N produced = 18,000 / 6 = 6,000
contribution margin product N= 18,000 x $2 = $36,000
total contribution margin = $68,500
Blue Firm
Low Price High Price
Yellow Firm Low Price Y: 26 , B: 20 Y: 48 , B: 12
High Price Y: 24 , B 36 Y: 38 , B: 32
According to the payout matrix above, where a higher value is considered better,
A. Both firms have a dominant strategy to pick the High Price option
B. Only the Yellow firm has a dominant strategy to pick the High Price option
C. Only the Blue firm has a dominant strategy to pick the High Price option
D. Only the Yellow firm has a dominant strategy to pick the Low Price option
E. Only the Blue firm has a dominant strategy to pick the Low Price option
F. Both firms have a dominant strategy to pick the Low Price option
Answer:
F. Both firms have a dominant strategy to pick the Low Price option
Explanation:
In the given case as we can see that in the yellow form there is always a greater payoff by having a lesser price so it can be said that it set a less price
Now for the blue firm it also select the lesser price
So here the nash equilibrium would be
= (Low price, low price)
= (26,20)
The first payoff would be considered as a yellow firm and the other one is blue one
Therefore the last option is correct
. In an income statement segmented by product line, the salary of the corporation chief executive officer (CEO) should be: a. allocated to the product lines on the basis of sales dollars. b. allocated to the product lines on the basis of segment margin. c. classified as a traceable fixed expense and allocated to the product lines. d. classified as a common fixed expense and not allocated to the product lines.
Answer:
d. classified as a common fixed expense and not allocated to the product lines.
Explanation:
In the case when the income statement is segmnented by the product line so the salary of the chief executive officer (CEO) would be categorized as a common fixed expenses as it has fixed in a nature so it would not be allocated to the product lines
Therefore as per the given situation, the option D is correct
Hence, the same is to be considered
Suppose the credit terms offered to your firm by its suppliers are 2/10, net 30 days. Your firm is not taking discounts, but is paying after 22 days instead of Day 30. You point out that the nominal cost of not taking the discount and paying on Day 30 is approximately 37%. But since your firm is neither taking discounts nor paying on the due date, what is the effective annual percentage cost (not the nominal cost) of its costly trade credit, using a 365-day year
Answer: 63.5%
Explanation:
Assuming 365 days, the effective annual percentage cost is;
= ( 1 + 2%/(100% - 2%) ) ^ ( 365 / (25 - 10 days) ) -1
= 1.634928727 - 1
= 0.6349
= 63.5%
Why will the number of suppliers in the tourism industry decrease, and how will this consolidation of suppliers take place
Answer:
In the current negative economic climate, suppliers in the tourism industry are likely to consolidate because many small suppliers do not have enough revenue to continue operating, and in such situation, they can be easily absorbed by larger, more solvent competitors.
Besides, the industry had been consolidating in the years prior to the current crisis. For example, Airbnb, with its innovative business model and global reach, had made many small suppliers go out of business in several cities of the world.
Please choose one of following answers that are in quote
What is the opportunity cost in this scenario?
Harry has been very busy at work for the past two weeks. He has been working weekends too. Finally, he is going to get a weekend off. "Originally, he planned to paint his apartment that weekend." "He also considered going fishing for the weekend." "But then his parents called and asked him to come for dinner because it has been a while since they have seen each other."
"Later on, his friend Theo informed him about a surprise birthday party for another friend." Theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room split between Theo, Harry, and three other friends.
Now Harry is confused about what he should do over the weekend. He decides that, for him, the most important commitments are going over to his parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents.
Answer:
it would be better to go the his parents house so it would be cheaper, probably around $10
Explanation:
Frolic Corporation has budgeted sales and production over the next quarter as follows: August September Sales in units Production in units July 50,000 71,200 62,000 62,300 66,650 The company has 6000 units of product on hand at July 1. 10% of the next month's sales in units should be on hand at the end of each month. October sales are expected to be 81,500 units. Budgeted sales for September would be (in units):__________.
A) 74,800
B) 65,000
C) 74,000
D) 72,850
The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2017
a. Unrecorded depreciation on the trucks at the end of the year is $8.231
b. The total amount of accrued interest expense at year-end is $8,000.
c. The cost of unused office supplies still available at year-end is $1,400.
1. Prepare the year-end closing entries for Dylan Delivery Company as of December 31, 2017
2. Determine the capital amount to be reported on the December 31, 2017 balance sheet.
Answer:
Question 1
Part a
Debit : Depreciation $8.231
Credit : Accumulated Depreciation $8.231
Part b
Debit : Interest Expense $8,000
Credit : Long term notes payable $8,000
Part c
Debit : Office Supplies Expenses $ 500
Credit: Office Supplies $ 500
Question 2
Capital amount to be reported on the December 31, 2017 balance sheet is $170,551
Explanation:
See below the full question that i have attached
Calculation of Capital amount as at December 31, 2017
Balance before adjustments $187,282
Adjustments :
Depreciation ($8.231)
Interest Expense ($8,000)
Office Supplies Expenses ($ 500)
Balance after adjustments $170,551