At the end of 2015, the total reserve of a mineral was 360000 m3. In the year 2016, about 5000 m3 was used. Under these assumptions, how long will the reserves last if the annual increase in usage is 3%
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At the end of 2015, the total reserve of a mineral was 360000
m3. In the...
At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts payable were $380,000....
At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts payable were $380,000. Sales, which in 2015 were $2.0 million, are expected to increase by 20% in 2016. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $455,000 in 2015, and retained earnings were $295,000. Wallace has arranged to sell $155,000 of new common stock in 2016...
Long-Term Financing Needed At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts...
Long-Term Financing Needed At year-end 2015, Wallace Landscaping’s total assets were $1.7 million and its accounts payable were $315,000. Sales, which in 2015 were $2.7 million, are expected to increase by 20% in 2016. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current liabilities other than accounts payable. Common stock amounted to $430,000 in 2015, and retained earnings were $330,000. Wallace has arranged to sell $85,000 of new common...
At the end of 2014, Elizabeth Bolton earned $50,000. In 2015, she earned a 5% increase....
At the end of 2014, Elizabeth Bolton earned $50,000. In 2015, she earned a 5% increase. In 2016, she earned a 4% increase. In 2017, she earned a 6% increase. And in 2018, she earned a 8% increase. Calculate what her pay would be, if her increases had been permanent merit increases and what her pay would be, if her increases had been incentive bonuses. (Please fill in the following table.) Cost of Increase Total Salary Under Year % Permanent...
Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400 $...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
15. Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400...
15. Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500...
Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400 $...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,300...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,300 $ 34,600 $ 36,000 Accounts receivable, net 89,000 63,100 52,700 Merchandise inventory 78,734 82,900 52,200 Prepaid expenses 10,070 8,849 4,138 Plant assets, net 320,896 240,551 234,962 Total assets $ 530,000 $ 430,000 $ 380,000 Liabilities and Equity Accounts payable $ 130,650 $ 73,397 $ 50,160 Long-term notes payable secured by mortgages on plant assets 98,644 98,900 81,461 Common stock, $10 par value 162,500 162,500...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 32,000...
Simon Company’s year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 32,000 $ 34,900 $ 37,200 Accounts receivable, net 89,600 62,600 58,400 Merchandise inventory 66,406 83,500 50,900 Prepaid expenses 11,305 10,389 4,376 Plant assets, net 395,689 293,611 239,124 Total assets $ 595,000 $ 485,000 $ 390,000 Liabilities and Equity Accounts payable $ 149,637 $ 81,965 $ 51,480 Long-term notes payable secured by mortgages on plant assets 112,979 112,666 84,466 Common stock, $10 par value 162,500 162,500...
Apple-Space year-end balance sheets follow. At December 31 2017 2016 2015 Assets Cash $ 31,400 $...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
Simon Company's year-end balance sheets follow At December 31 Assets 2017 2016 2015 as Accounts receivable,...
Simon Company's year-end balance sheets follow At December 31 Assets 2017 2016 2015 as Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,200 34,200 $ 36,700 52,800 54,200 4,305 291,369 278,627 231,995 $525,000 $470,000 $ 380,000 64,300 103,556 83,200 9,673 88,700 10,175 Liabilities and Equity Accounts payable $133,340 81,019 $ 48,655 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 83,980 162,500 162,500162,500 84,865...
At the end of 2014, Elizabeth Bolton earned $50,000. In 2015, she earned a 5% increase. In 2016, she earned a 4% increase. In 2017, she earned a 6% increase. And in 2018, she earned a 8% increase. Calculate what her pay would be, if her increases had been permanent merit increases and what her pay would be, if her increases had been incentive bonuses. (Please fill in the following table.) Cost of Increase Total Salary Under Year % Permanent...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
15. Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
Apple-Space year-end balance sheets follow.
At December 31
2017
2016
2015
Assets
Cash
$
31,400
$
34,100
$
37,300
Accounts receivable, net
89,100
63,200
60,000
Merchandise inventory
26,906
84,700
56,200
Prepaid expenses
11,020
10,084
3,557
Plant assets, net
421,574
297,916
172,943
Total assets
$
580,000
$
490,000
$
330,000
Liabilities and Equity
Accounts payable
$
144,420
$
81,982
$
44,431
Long-term notes payable secured by
mortgages on plant assets
110,130
116,081
75,118
Common stock, $10 par value
162,500
162,500
162,500...
Simon Company's year-end balance sheets follow At December 31 Assets 2017 2016 2015 as Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 31,200 34,200 $ 36,700 52,800 54,200 4,305 291,369 278,627 231,995 $525,000 $470,000 $ 380,000 64,300 103,556 83,200 9,673 88,700 10,175 Liabilities and Equity Accounts payable $133,340 81,019 $ 48,655 Long-term notes payable secured by mortgages on plant assets Common stock, $10 par value Retained earnings Total liabilities and equity 83,980 162,500 162,500162,500 84,865...
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