The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,577 Accounts Receivable 2,141 Prepaid Expenses 690 Equipment 15,082 Accumulated Depreciation 4,161 Accounts Payable 1,637 Notes Payable 5,294 Common Stock 1,000 Retained Earnings 9,508 Dividends 709 Fees Earned 7,913 Wages Expense 2,839 Rent Expense 798 Utilities Expense 352 Depreciation Expense 234 Miscellaneous Expense 91 Totals 29,513 29,513 Determine the net income (loss) for the period.

Answer:

Net income $3,599

Explanation:

Fees Earned                                                $7,913

Expenses:

Net income                                                $3,599

the following accounts are all permanent accounts that belong to the balance sheet, not the income statement:

Cash, Accounts Receivable, Prepaid Expenses, Equipment, Accumulated Depreciation, Accounts Payable, Notes Payable, Common Stock, Retained Earnings

Dividends are not included in the income statement

Consider two neighboring island countries called Arcadia and Felicidad. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.

Jeans Corn
Country (Pairs per hour of labor) (Bushels per hour of labor)
Arcadia 8 16
Felicidad 5 20


Initially, suppose Arcadia uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Felicidad uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Arcadia produces 8 million pairs of jeans and 48 million bushels of corn, and Felicidad produces 15 million pairs of jeans and 20 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.


Arcadia's opportunity cost of producing 1 pair of jeans is____of corn, and Felicidad's opportunity cost of producing 1 pair of jeans is____of corn. Therefore,____has a comparative advantage in the production of jeans, and____has a comparative advantage in the production of corn.

Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will produce ___ million pairs per week, and the country that produces corn will produce ____ million bushels per week.

When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased by____million pairs per week, and the total production of corn has increased by____million bushels per week.

Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.
Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the table. In the following table, enter this difference in the boxes across the last row (marked “Increase in Consumption”).
Arcadia Felicidad

Jeans Corn Jeans Corn
(millions of pairs) (millions of bushels) (millions of pairs) (millions of bushels)

Without Trade
Production 8 48 15 20
Consumption 8 48 15 20

With Trade
Production
Trade action
Consumption

Gains from trade
Increase in consumption

The president of State University wants to forecast student enrollments for this academic year based on the following historical data: Year Enrollments 5 Years ago 15,000 4 Years ago 16,000 3 Years ago 18,000 2 Years ago 20,000 Last Year 21,000 What is the forecast for this year using trend-adjusted (double) smoothing with alpha

A foundry is developing a long-range strategic plan for buying scrap metal for its operations. The foundrycan buy scrap metal in unlimited quantity from two sources: Atlanta and Birmingham, and it receives thescrap daily by railroad cars.The scrap is melted down, and lead and copper are extracted. Each railroad car from Atlanta yields 1 ton ofcopper and 1 ton of lead, and costs $10,000. Each railroad car from Birmingham yields 1 ton of copper and2 tons of lead, and costs $15,000. The foundry needs at least 4 tons of lead and at least 2.5 tons of copperper day for the foreseeable future.1. In order to minimize the long-range scrap metal cost, how many raiload cars of scrap should bepurchased per day from each source

Seasons Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $1,550,000 each quarter. The total contract price is $18,600,000 and Seasons estimates total costs of $17,750,000. Seasons estimates that the building will take 3 years to complete, and commences construction on January 2, 2018.At December 31, 2018, Seasons estimates that it is 30% complete with the construction, based on costs incurred. What is the total amount of Revenue and Profit from Long-Term Contracts recognized for 2018?

AirBird is a domestic airline company that is building a Customer Relationship Management (CRM) system that focuses on providing a personalized experience to all customers. The system would be deployed on mobile phones, tablets and desktop. Customers will be allowed to search for flights, view flight routes and itineraries, filter flights based on price, destination, duration, number of stops, class (basic economy, economy, business and first class). Customers will need an account with AirBird to book a trip or purchase flights. They should

The Gargus Company, which manufactures projection equipment, is ready to introduce a new line of portable projectors. The following data are available for a proposed model: Variable manufacturing costs 270 Applied fixed manufacturing overhead 135 Variable selling and administrative costs 90 Applied fixed selling and administrative costs 105 What price will the company charge if the firm uses cost-plus pricing based on variable manufacturing cost and a markup percentage of 200%

Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a recent month. Cutting Binding Beginning work in process Transferred in from cutting dept. $ 2,200 Direct materials $ 1,145 2,646 Conversion 3,750 3,450 Costs added during March Direct materials $ 9,240 $ 7,100 Conversion 14,700 18,575 Transferred in from cutting dept. 20,530 Transferred to finished goods 49,000 Determine the ending balances in the Work in Process Inventory accounts of each department.

Use a piece of scrap paper to prepare a cost of Goods Manufactured from the following numbers: Beginning Direct Raw Materials -$69,000 Direct Raw Materials Purchases-$92,000. Direct Raw Materials Ending Inventory- $8000 Direct Labor-$25,000. Factory Overhead $37,000. Beginning work in process inventory $22,000. Ending Work in process Inventory $23,500 What are the total manufacturing costs for this statement

Genting Berhad is a Malaysian conglomerate with holdings in plantations and tourist resorts. The beta estimated for the firm relative to the Malaysian stock exchange is 1.15, and the long-term government borrowing rate in Malaysia is 11.5%. The Malaysian risk premium is 12%. The expected return on the stock for a Malaysian National who is not Internationally diversified is closest to:

My cousin borrowed $18000 for new car loan for 6 years he told me that at the end of the loan he pained $25560 for interest and principal what was the rate of the loan

A 7% b 8% c 9% d 9%

Make you the brainlist if you answer

What was the opportunity cost in a situation in which you use your available cash to buy gas for your car and then stay hungry the rest of the way home?

HELP PLSSS HALP
How many tears would it take to fill up a pool? Explain.

6 . How shifts in demand and supply affect equilibrium Consider the market for pens. Suppose that the number of students with an allergy to pencil erasers increases, causing more students to switch from pencils to pens in school. Moreover, the price of ink, an important input in pen production, has increased considerably.

What is a KEY reason that an entrepreneur might choose to establish a
corporation rather than a partnership or a sole proprietorship? *

Tiger Inc. has total sales of $35,821, cost of goods sold is $10,832, general and administrative expenses are $8,240, and depreciation is $523. The tax rate is 21 percent. The firm does not have any interest expense. What is the operating cash flow

Someone who does not have an aptitude or ability in a career area is at disadvantage if they select a career in that
field.
Please select the best answer from the choices provided
O T

The cost of lighting and maintaining the tallest smokestack in the US (at a shuttered ASARCO refinery) is $90,000 per year. At an interest rate of 10% per year, the present worth of maintaining the smokestack for 10 years is closest to: a. $1,015,000 GE 311 Financial Decisions in Engineering Skill Development Assignment

Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2018 of a circuit flaw in an amplifier that poses a potential fire hazard. An intense investigation indicated that a product recall is virtually certain, estimated to cost the company $7.5 million. The fiscal year ends on December 31. Required: 1. Should this loss contingency be accrued

Explain how depth affects oxygen content in ocean water.

Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system: Activity Cost Pools Activity Rate Size-related$1.33per guest Complexity-related$28.42per tier Order-related$74.92per order The measure of activity for the size-related activity cost pool is the number of planned guests at the wedding reception. The greater the number of guests, the larger the cake. The measure of complexity is the number of tiers in the cake. The activity measure for the order-related cost pool is the number of orders. (Each wedding involves one order.) The activity rates include the costs of raw ingredients such as flour, sugar, eggs, and shortening. The activity rates do not include the costs of purchased decorations such as miniature statues and wedding bells, which are accounted for separately. Data concerning two recent orders appear below: Tijerina WeddingTwersky Wedding Number of reception guests 54 129 Number of tiers on the cake 2 4 Cost of purchased decorations for cake$29.30$54.84 Assuming that all of the costs listed above are avoidable costs in the event that an order is turned down, what amount would the company have to charge for the Tijerina wedding cake to just break even

Jackson Inc. listed the following data for 2019: Budgeted factory overhead $1,272,000 Budgeted direct labor hours 80,000 Budgeted machine hours 40,000 Actual factory overhead 1,201,400 Actual direct labor hours 86,700 Actual machine hours 39,800 Assuming Jackson Inc. applied overhead based on machine hours, the firm's predetermined overhead rate for 2019 (round calculations to 2 significant digits) is: