Ramos Corp

question 102

Essay

Ramos Corp.started business at the beginning of the year, with assets of $600,000 and stockholders' equity of $240,000.By the end of the year, assets increased by $80,000 and liabilities increased by $60,000.Other than net income or loss, the only change in stockholders' equity was dividends declared and paid of $55,000.
A) What was the amount of Ramos Corp.stockholders' equity at the end of the year?
B) What was the amount of Ramos Corp.net income or net loss for the year?

• A) What was the amount of Ramos Corp.stockholders' equity at the end of the year?
• B) What was the amount of Ramos Corp.net income or net loss for the year?

Interpret economic diagrams related to trade and tariffs.

Evaluate the overall welfare effects of trade on a country.

Identify the effects of trade on domestic production and consumption.

Understand the role of world price in determining whether a country will import or export a good.

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Definitions:

Consolidated Portfolio

A comprehensive account of the combined assets, liabilities, and investment holdings of a parent company and its subsidiaries.

Controlling Interest

Controlling interest is an ownership interest in a corporation that gives the shareholder sufficient voting power to influence or direct the company's management and policies.

Common Stock

Equity ownership in a corporation, representing a claim on its earnings and assets, and conferring voting rights in certain corporate decisions.

Cost Method

This accounting approach involves recording an investment at its original cost without adjusting for changes in market value.