An adjusted trial balance for a sole proprietorship is given below. There were no new capital contributions during the year.

What will be the final balance in the​ company's Lorenzo, Capital account after recording the closing

​entries?

Current Attempt in Progress The CVP income statements shown below are available for Armstrong Company and Contador Company. Armstrong Co. Contador Co. Sales $490,000 $490,000 Variable costs 247,000 45,000 Contribution margin 243,000 445,000 Fixed costs 143,000 345,000 Net income $100,000 $100,000 (a1) Compute the degree of operating leverage for each company. (Round answers to 2 decimal places, e.g. 1.15.) Degree of Operating Leverage Armstrong Contador (b) Assuming that sales revenue increases by 10%, prepare a variable costing income statement for each company. Armstrong Company Contador Company

Suppose the Occupy South Africa movement is considering a new policy that would slightly raise the marginal income tax for the top 1% and use the resulting revenue to improve the quality and capacity of health clinics for poor and medically underserved populations.

1. Is this policy likely to represent a Pareto improvement? Explain your answer in one or two sentences.

2. Is this policy likely to improve overall social welfare, according to a Rawlsian social welfare function? Explain your answer in one or two sentences.

3. Is this policy likely to improve overall social welfare, according to a utilitarian social welfare function? Explain your answer in one or two sentences.

Yellow Sand Consulting is considering a project that would last for 2 years. The project would involve an initial investment of 93,000 dollars for new equipment that would be sold for an expected price of 78,000 dollars at the end of the project in 2 years. The equipment would be depreciated to 23,000 dollars over 7 years using straight-line depreciation. In years 1 and 2, relevant annual revenue for the project is expected to be 90,000 dollars per year and relevant annual costs for the project are expected to be 24,000 dollars per year. The tax rate is 50 percent and the cost of capital for the project is 5.37 percent. What is the net present value of the project?

Which of the following statement is the most true: A) In period of rising pricing FIFO tend to give higher value for inventory & higher reported CFO than LIFO. B) In period of rising pricing LIFO tend to give higher value for CGS& lower income & higher reported assets in the balance sheet comparing to FIFO. C) Comparing to FIFO, LIFO provide better matching of expenses with revenue only during a period of rising prices. D) LIFO always provide more realistic value for inventory and assets in the balance sheet than LIFO. E) A & B F) C & D. G. None of the above.

The following information is available for Marin Corporation for the year ended December 31, 2022. Beginning cash balance $44,000 Accounts payable decrease 3,300 Depreciation expense 83,000 Accounts receivable increase 9,200 Inventory increase 14,500 Net income 255,000 Cash received for sale of land at book value 44,000 Sales revenue 745,000 Cash dividends paid 11,800 Income tax payable increase 4,500 Cash used to purchase building 141,000 Cash used to purchase treasury stock 30,200 Cash received from issuing bonds 230,000 Prepare a statement of cash flows using the indirect method.

A producer of pottery is considering the addition of a new plant to absorb the backlog of demand that now exists. The primary location being considered will have fixed costs of $13,450 per month and variable costs of $1.06 per unit produced. Each item is sold to retailers at a price that averages $1.23

a) The volume per month is required in order to break even =  (in whole number)

b) The profit or loss would be realized on a monthly volume of 61,000 units =  

c) The volume is needed to obtain a profit of $16,000 per month =  (in whole number)

d) The volume is needed to provide revenue of $23,000 per month =  (in whole number)

The following info is available for Johnson Company for the year ended December 31,2017

Beginning cash balance $35,000

Accounts payable decrease 3,200

Depreciation expense 76,000

Accounts receivable increase 8,200

Inventory increase 13,000

Net income 269,100

Cash received for sale of land at book value 35,000

Sales revenue 747,000

Cash dividend paid 12,000

Income tax payable increase 4,700

Cash used to purchase building 144,000

Cash used to purchase treasury stock 32,000

Cash received from issuing bonds 206,000

Prepare a statement of cash flows using the indirect method