subject
Business, 13.09.2021 18:40 Kazya4

You have decided to start a business selling pet toys. You form a corporation, Happy Pets, Inc. You (the shareholder) paid $100 per share for 5,000 shares of stock on January 1, 20X0. The company borrowed $75,000 from the bank. The note says the company agrees to pay back that amount on December 31, 20X5 and the interest rate is 10%. The company bought 60,000 toys for $3 each. It sold 40,000 toys for $8 each. The company also paid wages of $50,000, advertising expense of $2,000, and rent, $12,000, and paid the interest. The company bought a delivery van on December 31st that cost $20,000 paying cash for the total amount. On July 1 the company sold another 1,000 shares of stock for $100 each. On December 31 the company paid a $10,000 dividend. At the end of the year the company owed its employees $2,000. The tax rate is 30% and the taxes were paid in 20X0. Prepare T accounts and financial stateme

ansver
Answers: 2

Another question on Business

question
Business, 21.06.2019 17:30
Which composition of transformations will create a pair of similar, not congruent triangles? a rotation, then a reflectiona translation, then a rotationa reflection, then a translationa rotation, then a dilationmark this and retumsave and exit
Answers: 2
question
Business, 21.06.2019 22:40
wilson's has 10,000 shares of common stock outstanding at a market price of $35 a share. the firm also has a bond issue outstanding with a total face value of $250,000 which is selling for 102 percent of face value. the cost of equity is 11 percent while the preminustax cost of debt is 8 percent. the firm has a beta of 1.1 and a tax rate of 34 percent. what is wilson's weighted average cost of capital?
Answers: 3
question
Business, 22.06.2019 01:30
In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?
Answers: 1
question
Business, 22.06.2019 18:30
Amanufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. in the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant for $2,100,000. what should the manufacturer do?
Answers: 1
You know the right answer?
You have decided to start a business selling pet toys. You form a corporation, Happy Pets, Inc. You...
Questions
question
Mathematics, 27.09.2019 05:50
Questions on the website: 13722359