In January of year 1, a company began doing business as a corporation in order to sell technology-related accessories and services. During its first month of operations, it focused on obtaining the financing needed to start its operations. In February of year 1, the company sold inventory costing $25,000 for $75,000 cash.In February of year 1, the company provided technology-related services worth $10,000. Customers paid a total of $4,000 in cash for these services and promised to pay the remainder the following month.What will be the total impact of these services provided on the company’s balance sheet other than an increase in cash of $4,000?Choose 2 answers Accounts receivable will increase $6,000. Accounts receivable will decrease $6,000. Retained earnings will decrease $2,000. Retained earnings will increase $6,000. Retained earnings will increase $10,000.

Question 10Use the balance sheet pictured to answer the following question.Balance SheetCurrent assetsAmount Cash$2,500 Accounts receivable$400 Inventory$400 Prepaid rent$10,000Long-term assets Equipment$3,900 Vehicle$25,000 Accumulated depreciation-$2,500 Furniture$2,200 Computers$2,600Total Assets$44,500If Eternal Summer purchased $500 worth of Inventory using their supplier credit line, what would the total assets be after the transaction? 1 point$44,000$44,500$45,000

The amount owing to suppliers for inventory purchases at the beginning of the year is $118,000 and at the end of the year is $94,000. If total credit purchases of inventory for the year are $160,000, the cash paid to suppliers of inventory for the year is:$184,000$254,000$66,000$278,000

If a company UID purchases machine parts worth $300, but only has $200 in cash. The company could purchase by initially paying $200 but the remaining amount is still owed to the dealer. The debit that would result from lead in Equipment (+300) and Account Payable will be credited (+$200) and Cash will get a credit of (-$200). What will the balance sheet look like?Question 2Answera.There will be an increase in Assets aloneb.There will be an increase in Liabilities alonec.transaction results in changes on both sides of the equation so there will be an increase of $200 on both sidesd.no changes will be recorded

The following transactions occurred during the January month:Received $50,000 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020.Purchased 10 new computer servers for $33,500 on 1/2; paid $10,000 cash and signed a three-year note for the remainder owed.Paid $10,000 for an Internet advertisement that ran today on 1/3.On January 4, purchased and received $3,000 of supplies on account.Received $170,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January.On January 6, paid $3,000 cash for supplies purchased on January 4.On January 7, sold 15,000 subscriptions at $15 each for services provided during January. Half was collected in cash and half was sold on account.Paid $378,000 in wages to employees on 1/30 for work done in January.On January 31, received an electric and gas utility bill for $5,350 for January utility services. The bill will be paid in February.

Required informationSkip to question[The following information applies to the questions displayed below.]Summary information from the financial statements of two companies competing in the same industry follows.  Barco Company Kyan Company   Barco Company Kyan CompanyData from the current year-end balance sheets     Data from the current year’s income statement    Assets     Sales $ 780,000 $ 907,200Cash $ 19,500 $ 33,000 Cost of goods sold 590,100 630,500Accounts receivable, net 36,400 59,400 Interest expense 8,000 13,000Merchandise inventory 84,240 130,500 Income tax expense 14,992 25,045Prepaid expenses 5,600 7,500 Net income 166,908 238,655Plant assets, net 320,000 305,400 Basic earnings per share 4.17 5.79Total assets $ 465,740 $ 535,800 Cash dividends per share 3.74 4.03Liabilities and Equity     Beginning-of-year balance sheet data    Current liabilities $ 71,340 $ 103,300 Accounts receivable, net $ 30,800 $ 55,200Long-term notes payable 78,800 105,000 Merchandise inventory 63,600 105,400Common stock, $5 par value 200,000 206,000 Total assets 448,000 392,500Retained earnings 115,600 121,500 Common stock, $5 par value 200,000 206,000Total liabilities and equity $ 465,740 $ 535,800 Retained earnings 98,292 48,8812a. For both companies compute the (a) profit margin ratio, (b) total asset turnover, (c) return on total assets, and (d) return on equity. Assuming that each company’s stock can be purchased at $90 per share, compute their (e) price-earnings ratios and (f) dividend yields.2b. Identify which company’s stock you would recommend as the better investment.