Business, 23.04.2020 17:53 ashleyd9243

Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $940,000 and liabilities of $300,000. During Year 2, Marson invested an additional $73,000 and withdrew $33,000 from the business.

What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $995,000, and liabilities were $270,000?

a. $50,000
b. 5370,000
c. 545.000
d. 5106,000

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:30

Which of the following pairs is most similar to each other? a. barter goods and fiat money b. digital money and barter goods c. fiat money and digital money d. commodity money and digital money

Answers: 1

Answer

Business, 22.06.2019 16:00

Advanced enterprises reports year-end information from 2018 as follows: sales (160,250 units) $968,000 cost of goods sold 641,000 gross margin 327,000 operating expenses 263,000 operating income $64,000 advanced is developing the 2019 budget. in 2019 the company would like to increase selling prices by 14.5%, and as a result expects a decrease in sales volume of 9%. all other operating expenses are expected to remain constant. assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. should advanced increase the selling price in 2019?

Answers: 3

Answer

Business, 22.06.2019 19:40

The common stock of ncp paid $1.35 in dividends last year. dividends are expected to grow at an annual rate of 5.30 percent for an indefinite number of years. a. if ncp's current market price is $22.57 per share, what is the stock's expected rate of return? b. if your required rate of return is 7.3 percent, what is the value of the stock for you? c. should you make the investment? a. if ncp's current market price is $22.57 per share, the stock's expected rate of return is

Answers: 3

Answer

Business, 22.06.2019 20:20

Tl & co. is following a related-linked diversification strategy, and soar inc. is following a related-constrained diversification strategy. how do the two firms differ from each other? a. soar inc. generates 70 percent of its revenues from its primary business, while tl & co. generates only 10 percent of its revenues from its primary business. b. soar inc. pursues a backward diversification strategy, while tl & co. pursues a forward diversification strategy. c. tl & co. will share fewer common competencies and resources between its various businesses when compared to soar inc. d. tl & co. pursues a differentiation strategy, and soar inc. pursues a cost-leadership strategy, to gain a competitive advantage.

Answers: 3

Answer

You know the right answer?

Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting...

Questions