Ruthven Company Had the Following Transactions for 2014, the First

question 9

Essay

Ruthven Company had the following transactions for 2014, the first year of operations:
1) Issued common stock for $50,000 cash.
2) Purchased merchandise on account, $40,000, terms 1/10, n/30.
3) Sold merchandise on account for $25,000. The inventory sold had cost $14,000.
4) Paid for the merchandise purchased within the discount period.
5) Collected $20,000 on the merchandise sold on account.
6) Paid operating expense of $5,000.
Required:
a) What are total assets at the end of 2014?
b) What is the balance of the cash account at the end of 2014?
c) What is gross margin for 2014?
d) What is net income for 2014?
e) What are total liabilities at the end of 2014?
f) What is total equity at the end of 2014?
g) What is total retained earnings at the end of 2014?
h) What was the amount of cash flows from operating activities?

Appreciate the global effects on health care, including spread of diseases and workforce diversity.

Evaluate care based on nursing quality indicators and methods for quality improvement.

Recognize the importance and methods of early discharge planning and preparing for patient transitions.

Utilize research findings and evidence-based practice to improve clinical care.

---

Definitions:

Positive

Characterized by or displaying affirmation, agreement, or constructive qualities or outcomes.

Tracking Method

A systematic approach or technique used to monitor, record, and evaluate progress or changes over time.

Food Behavior

The eating actions or habits of an individual or group, including what, how, why, and when food is consumed.

Self-Monitoring

The practice of systematically observing and recording one's own behaviors, thoughts, or emotions to improve self-awareness and achieve personal goals.