Metlock Industries acquired two copyrights during 2020. One copyright related to a textbook that was developed internally at a cost of $9,300. This textbook is estimated to have a useful life of 3 years from September 1, 2020, the date it was published. The second copyright (a history research textbook) was purchased from University Press on December 1, 2020, for $40,000. This textbook has an indefinite useful life.
Required:
a) How should these two copyrights be reported on Metlock’s balance sheet as of December 31, 2020?
Answers
Answer:
The first book will not be reported on the balance sheet, but the second copyright will be reported at the full purcahse price.
Explanation:
1. A textbook that was developed internally: The $9,300 cost incurred must be expensed. As a result of this. the copyright will only be reported on the income statement but not on the balance sheet.
2. The second copyright (a history research textbook): The $40,000 purchase cost of this will be reported on the balnace sheet in full. But there will not be amortization since it has an indefinite useful life.
Related Questions
( Help please suck on this question !! )
Which of the following challenges will banks continue to tackle over the next few years?
A. Customer engagement
B. Increasing competitive advantage
C. Increasing service offerings
D. Lowering interest rates
Answers
Answer:A
Explanation:
Because as long as a bank does have customers over the next few years then they have to tackle customers engagement.
Steve works for a construction company. He is currently paid at an hourly rate of $13.50 per hour and any overtime is paid at a rate of time and a half. He is paid weekly, this week he worked 47 hours.
gross pay:??
net pay:??
Note: Net pay will be figured by deducting the 1.45 percent Medicare Tax and 4.75 percent Social Security Tax
Answers
For this week, Steve worked 47 hours. His regular rate of pay is $13.50 per hour. Since overtime is paid at time and a half, his overtime rate would be $13.50 x 1.5 = $20.25 per hour. The number of overtime hours this week is 47 - 40 = 7.
So Steve's gross pay for the week would be:
(40 hours x $13.50) + (7 hours x $20.25) = $540 + $141.75 = $681.75
Now, let's calculate Steve's net pay.
Medicare tax is 1.45% of his gross pay.
1.45% of $681.75 = $9.89
Social Security tax is 4.75% of his gross pay.
4.75% of $681.75 = $32.40
So, the total tax deduction from Steve's gross pay is $9.89 + $32.40 = $42.29.
Therefore, Steve's net pay would be:
Gross pay - Total tax deduction = $681.75 - $42.29 = $639.46
Answer: $770
Explanation:
Hart Company made 3,040 bookshelves using 22,040 board feet of wood costing $271,092. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.20 per board foot.
AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Cost Standard Cost $ 0 Required 1 Required 2 > Required 1 Required 2 Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Which direct materials variances will Hart investigate further? Direct lapor enciency variance ( Required 1 Direct labor rate variance Direct materials price variance Direct materials quantity variance Total direct materials variance Total variable overhead cost variance (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances.
(2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting journal entry to close the variance accounts at period-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. View transaction list Journal entry worksheet Record price and quantity variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record closing of price and quantity variances to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Answers
1. a. The computation of the direct materials price variance is as follows:
= $2,204 ($12.20 - $12.30) x 22,040) Unfavorable
1.b. The computation of the direct materials quantity variance is as follows:
= $27,816 (24,320 - 22,040) x $12.20) Favorable
2. The direct materials variance that Hart will investigate further is the direct materials quantity variance, which is 10.3% ($27,816/$271,092 x 100) of the actual direct materials costs instead of the direct materials price variance, which is only 0.8% of the actual direct materials costs.
3. The journal entry to charge direct materials costs to Work in Process Inventory and record and close the materials variances are as follows:
a. Recording the Direct Materials Costs and Variances
Debit Work in Process $296,704 ($12.20 x 8 x 3,040)
Debit Direct Materials Price Variance $2,204
Credit Direct Materials Quantity Variance $27,816
Credit Raw Materials $271,092
To record the charge of direct materials to work in process based on standard cost.b. Closing the Direct Materials Variances:
Debit Direct Materials Quantity Variance $27,816
Credit Direct Materials Price Variance $2,204
Credit Cost of Goods Sold $25,612
To close direct materials variances to the cost of goods sold.Data and Calculations:
Units of bookshelves produced = 3,040
Feet of board used = 22,040
Cost of board feet of wood = $271,092
Per Unit Standard Actual
Price $12.20 $12.30 ($271,092/22,040)
Board feet 8 7.25 (22,040/3,040)
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what are the key facts in jp morgan "london whale Scandal"?
Answers
The "London Whale" scandal highlighted the importance of robust risk controls and transparency in financial institutions, and it served as a wake-up call for the banking industry to reassess its risk management practices.
The "London Whale" scandal was a notable event involving JP Morgan Chase in 2012. The key facts are as follows:
Massive Trading Loss: The scandal originated from a complex derivatives trading strategy conducted by a trader named Bruno Iksil, nicknamed the "London Whale." The strategy led to substantial losses for JP Morgan Chase.
Synthetic Credit Portfolio: The losses were primarily linked to the Synthetic Credit Portfolio, a large and risky position within the bank's Chief Investment Office (CIO). This portfolio was designed to hedge the bank's overall credit exposure but became excessively large and difficult to manage.
Risk Management Failures: The incident exposed significant weaknesses in JP Morgan's risk management practices. The bank's internal controls and oversight mechanisms failed to detect and prevent the escalating losses until it was too late.
Financial Impact: JP Morgan initially reported losses of $2 billion, but the final tally exceeded $6 billion, making it one of the costliest trading scandals in history. The incident led to a decline in the bank's stock price and dented its reputation.
Regulatory Scrutiny and Reforms: The scandal prompted investigations by regulatory authorities, including the Securities and Exchange Commission (SEC) and the Federal Reserve. It also sparked debates about the need for stricter regulations and risk management reforms within the banking industry.
Overall, the "London Whale" scandal highlighted the importance of robust risk controls and transparency in financial institutions, and it served as a wake-up call for the banking industry to reassess its risk management practices.
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Darren and Ike run a custom bicycle shop. This week, they launched a series of free bicycle repair clinics to raise awareness about their business. Which term BEST describes their activity?
Answers
Answer:Maybe they are trying to get people to notice them and come into their shop
Explanation:
Answer:
public relations
Explanation:
Westco Company issued 14-year bonds a year ago at a coupon rate of 8 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 6.3 percent, what is the current bond price in dollars?
Answers
The current bond price in dollars is approximately $1,137.49.
To calculate the current bond price, we can use the present value of the bond's cash flows. Since the bond has a 14-year maturity and makes semiannual payments, it will have a total of 28 (14 years multiplied by 2) coupon payments.
The coupon rate is 8 percent, which means the bond pays $80 (8 percent of $1,000) in interest annually, or $40 per semiannual period. The bond also returns the face value of $1,000 at maturity.
To calculate the present value of the bond's cash flows, we discount each cash flow to its present value using the yield to maturity (YTM) of 6.3 percent. The YTM represents the market's required rate of return for the bond.
Using a financial calculator or spreadsheet software, we can discount each cash flow and sum them up to find the current bond price. The formula to calculate the present value of a bond's cash flows is:
PV = C * (1 - (1 + r)^(-n)) / r + F / (1 + r)^n
Where PV is the present value, C is the coupon payment, r is the YTM per period, n is the total number of periods, and F is the face value.
Plugging in the values for the given bond, we have:
C = $40
r = 6.3% / 2 = 0.0315 (semiannual YTM)
n = 28
F = $1,000
Using the formula and calculating the present value, we find that the current bond price is approximately $1,137.49.
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LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses Net income $ 84,000 84,000 92.000 $ 3,251,000 $ (8,000) 3,259,000 127.000 603,000 2,529,000
How do you find the cost of goods manufactured?
Answers
The cost of goods manufactured (COGM) is the cost of all the products that a company has manufactured during a period.
How to calculateIt is calculated by adding the beginning finished goods inventory to the total manufacturing costs, and then subtracting the ending finished goods inventory.
In the income statement you provided, the cost of goods manufactured is calculated as follows:
COGM = $92,000 + $3,251,000 - $127,000 = $3,224,000
Therefore, the cost of goods manufactured for Leone Company is $3,224,000.
Here is the formula for calculating COGM:
COGM = Beginning finished goods inventory + Total manufacturing costs - Ending finished goods inventory
The total manufacturing costs include direct materials, direct labor, and manufacturing overhead.
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Four of the ships sought a passage along a southern...……
1 coast
2 inland
3 border
4 body of land with water on three sides
5 non of the above
what is the answer
Answers
A peninsula is a piece of land connected to the mainland by an isthmus and projecting into the ocean such that it is surrounded on three sides by water.
Which of the following job titles would be categorized as careers in arts, A/V technology, and
communication? Select all that apply.
a)3-D animator
b) photographer
c) substance abuse counselor
d) marketing researcher
e) bus driver
Answers
Answer:
I believe 3D animator and photographer should fall into arts and A/V technology, maybe marketing researcher could fall into researcher but im not 100% sure
Explanation:
The ____ major responsibility for keeping all dishes and utensils sanitary
Answers
The complete statement is "The food handler's major responsibility for keeping all dishes and utensils sanitary"
Who is a food handler?Generally, A person is considered to be a food handler if they directly touch food, whether it be packaged or unpackaged, as well as the apparatus and utensils used to make or serve food, and/or the surfaces where food is prepared or served.
In conclusion, The whole statement reads as follows: "The food handler has the primary responsibility for maintaining the cleanliness of all dishes and utensils."
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The __________ strategy involves deciding what goods and services the firm should offer to a group of consumers and also making decisions about customer service, brand name, packaging, labeling, product life cycles and new product development.
Answers
Answer:
a. trate
Explanation:
some trate is so much good then trote so yeah
addresses the answer to the question: how how far should the plan go to meet the objectives?
Answers
The four main types of planning are strategic, tactical, operational, and contingency planning. Organizations set their aims and objectives through the process of strategic planning.
Generally speaking, what does planning mean?
The process of planning is setting goals and objectives for a predetermined time frame, coming up with alternatives for the course of action to be taken, and eventually deciding on an appropriate path of action from the various options. The act of making plans is implied when a verb is used to express planning. To glide or fly without moving wings is to use the verb plan. The best way to recall the distinctions is to imagine that a plane is flying.
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Funds that banks lend to borrowers come from
Answers
What companies value comparative advantage in their business decisions?
Answers
A favorable environment for producing a certain type of good gives a company a comparative advantage in producing that good.
What is an comparative advantage?The ability of an economy to produce a specific good or service at a lower opportunity cost than its trading partners is referred to as comparative advantage. The concept of comparative advantage is used to explain why companies, countries, or individuals benefit from trade.
A variety of factors influence comparative advantage. A comparative advantage allows a company to lower its finished product prices, potentially leading to more sales. Before designing and manufacturing products, a company should determine which ones have a comparative advantage.
Therefore, companies value favorable environment as an comparative advantage in their business decisions.
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Describe the shifts in the world economy over the past 30 years. What are the implications of these shifts for international businesses based in the United Kingdom
Answers
Answer:
In the last 30 years, national economies have shifted towards decreasing trade barriers, and the world is becoming global economic space. Economic turbulence, especially in one of the major economies like the US, Europe, and China, tends to have ripple effects on other world economies. For example, the subprime housing crisis in 2008, which upturned the US economy, reached global proportions with the economic and financial meltdowns that were felt globally.
The new emergence in the economic system suggests that national boundaries are shrinking, and economies are becoming integrated and interdependent. In the last 30 years, China emerged as a global economic superpower, challenging the dominance of the US and European economies.
For businesses based in the United Kingdom, they have wider opportunities and better playing grounds. They can look beyond Europe and the US for investment and business opportunities. China, especially Hong Kong, is becoming an investment haven. Even other developing countries like Brazil, South Africa, and Dubai are becoming more attractive with increased consumer spending.
Secondly, the United Kingdom will continue to be the center of attraction for some Asian firms that will use London as a launching pad for their European businesses. This also poses some threats, just as it generates opportunities for global expansion of UK-based businesses.
Explanation:
Globalization has caused the world economies to merge and become a global economy. However, in the last four years, China seems to be recoiling to its shelves with the coming on board of the Trump Administration, which had exposed China's behind-the-door fiscal and monetary policies. This started when the administration labeled China as a currency manipulator. China is becoming alienated from the US and having its reputation tarnished internationally. The earlier prediction that China would emerge as the dominant superpower economy in 2010 was not wholly realized. China is re-strategizing by concentrating its investments in Asia, Africa, Latin America, and some parts of Europe.
Changes from the Cash Flow Statement (Indirect Method) A recent statement of cash flows for Colgate-Palmolive reporting the following information (dollars in millions): Operating Activities Net income $1,957.20 Depreciation 347.6 Cash effect of changes in Receivables 69.8 Inventories 134.7 Other current assets 31 Payables 125.2 Other 43.8 Net cash provided by operations $2,238.30 Based on the information reported on the statement of cash flows for Colgate-Palmolive, determine whether the following accounts increased or decreased during the period: Receivables, Inventories, Other Current Assets and Payables.
Answers
Answer:
a. Receivables increased during the period.
b. Inventories increased during the period.
c. Other Current Assets increased during the period.
d. Payables increased during the period.
Explanation:
Given:
Colgate-Palmolive
Cash Flow Statement (Operating Section Only)
Details $'million
Operating Activities Net income 1,957.20
Depreciation 347.60
Cash effect of changes in Receivables –69.80
Inventories –134.70
Other current assets –31.00
Payables 125.20
Other 43.80
Net cash provided by operations 2,238.30
Therefore, we have:
a. Receivables
The negative amount of $69.80 millions indicates that Receivables increased during the period. This is because, as Receivables increase without paying cash to the business, less cash is available for the business. This makes the increase to be negative in the Cash Flow Statement.
b. Inventories
The negative amount of $134.70 millions indicates that Inventories increased during the period. This is because, as Inventories increase and held in the store without being sold for cash, less cash is available for the business. This makes the increase to be negative in the Cash Flow Statement.
c. Other Current Assets
The negative amount of $31 millions indicates that Other Current Assets increased during the period. This is because, as Other Current Assets increase and without being converted to cash, less cash is available for the business. This makes the increase to be negative in the Cash Flow Statement.
d. Payables
The positive amount of $15.20 millions indicates that Payables increased during the period. This is because, as Payables increase and without cash being paid, more cash is available for the business. This makes the increase to be positive in the Cash Flow Statement.
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments
Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments.
The second department (Polishing) had the following physical flow schedule for December:
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started ?
Total units to account for ?
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed ?
Units accounted for ?
Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: direct materials, $32,000; conversion costs, $50,000; and transferred in, $40,000.
Required:
1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers.
Fordman Company
Schedule of Equivalent Units
For the month of December
Direct Materials Conversion Costs Transferred In
Units completed
Ending WIP:
x
%
x
%
Total equivalent units
2. Compute the unit cost for the month. If required, round your answer to the nearest cent.
$ per equivalent unit
Answers
Answer:
Fordman Company
1. Fordman Company
Schedule of Equivalent Units
For the month of December
Direct Materials Conversion Costs Transferred In
Units completed 16,000 16,000 20,000
Ending WIP: 4,000 4,000
(8,000 * 50%) (8,000 * 50%)
Total equivalent units 20,000 20,000 20,000
2. Cost per equivalent unit:
Direct Materials Conversion Costs Transferred In
Total costs of production $37,000 $56,000 $48,000
Total equivalent units 20,000 20,000 20,000
Cost per equivalent unit $1.85 $2.80 $2.40
Explanation:
a) Data and Calculations:
Transferred in units = 20,000
Cost of units transferred in = $40,000
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started 20,000
Total units to account for 24,000
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed 16,000
Units accounted for 24,000
Materials Conversion Transferred in
Beginning work in process $5,000 $6,000 $8,000
Costs added during month 32,000 50,000 40,000
Total costs of production $37,000 $56,000 $48,000
Determine the missing amount:
Assets=Liabilities+owners Equity x 272000 573000
Answers
Based on the given amounts of assets and liabilities, the missing amount of Owner's equity is $301,000
How to find the equity?The Owners equity is one of the parts of the Accounting equation which is:
Assets = Liabilities + Owners Equity
The Assets in this instance is $573,000 and the Liabilities are $272,000.
The Owner's equity is the missing amount and it can be found as:
573,000 = 272,000 + Owners Equity
Owners Equity = 573,000 - 272,000
Owners Equity = $301,000
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In one week, Sami can knit 5 sweaters or bake 240 cookies. In one week, Leila can knit 15 sweaters or bake 480 cookies. Which of the following is correct? Question 6 options: a) Leila has an absolute and a comparative advantage in both tasks. b) Leila has an absolute advantage in both tasks and a comparative advantage in knitting sweaters. c) Sami has an absolute advantage in both tasks and a comparative advantage in knitting sweaters. d) Sami has an absolute and a comparative advantage in both tasks. e) Sami has an absolute advantage in both tasks and a comparative advantage in baking cookies.
Answers
Answer:
B
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
A company has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries
Leila makes more sweaters and cookies than Sami. She has an absolute advantage
opportuntiy cost
Sami :
Sweaters = 240 / 5 = 48
cookies = 5/240 = 0.02
What is the difference between an
architectural drafter and an architectural
illustrator
Answers
Answer:
architectural drafter draw structural features and details for buildings and other construction projects while an architectural illustrator is an artist who created imagery for the design professional that accurately portray the details of an architectural project.
1. McIntyre Company adheres to a policy of depositing all cash receipts in a bank account and making all payments by check. The cash account as of December 31 has a credit balance of $1,850, and there is no undeposited cash on hand. (a) Assuming no errors occurred during journalizing or posting, what caused this unusual balance? (b) Is the $1,850 credit balance in the cash account an asset, a liability, stockholders’ equity, a revenue, or an expense?
2. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
Answers
1a) Assuming no errors occurred during journalizing or posting, the cause of the unusual balance is an overdraft.
1b) The $1,850 credit balance in the cash account is a liability.
2. If the two totals of a trial balance are equal, it does not mean there are no errors in the accounting records.
What errors do not affect the trial balance?Some accounting errors do not make the trial balance to be unequal.
Some of the errors that will not affect the trial balance include:
Errors Of PrincipleErrors of OmissionIncorrect reportingTransposition ErrorCompensating ErrorsErrors Of CommissionReversal Of Entry ErrorLate payment charges.When anyone of the above errors occurs, the trial balance will still be in balance, and the two totals will be equal.
Data and Calculations:Cash account balance on December 31 = $1,850 Credit
Thus, when the Cash account has a credit balance, it signifies an overdraft, especially when the balance is significant.
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If the adjustment for Supplies used during the period wasn't made,
A. revenue would be too high.
B. assets would be too low.
C. expenses would be too low.
D. expenses would be too high,
Answers
Answer:
D
Explanation:
It will give the suppliers an upper hand or edge over the consumers
Answer: think its expenses would be to low
Explanation:
Training programs for business
Answers
Top 10 Small Business Training Programs:
1. EdApp
2. Pluralsight
3. GoSkills
4. Coursera
5. A Cloud Guru
6. Learning
7. CBT Nuggets
8. Infosec
9. HubSpot Academy
10. Trainual
Hope it helped! :)
What is the difference between feedback and coaching?
Answers
Answer:
Coaching is about assisting employees reach their goals for the future. Feedback is about helping employees understand what prevents them from reaching their current goals.
Explanation:
Payment of $1,000 payables *
Increases an asset $1,000; decreases an asset $1,000
Decreases a liability $1,000; decreases an asset $1,000
Decreases a liability $1,000; increases owner's equity $1,000
None of the above
Answers
Answer:
None of the above
Explanation:
Given that the question is about Payment of $1,000 payables, then in a journal account, there will be a record of "Decreases in account payable $1,000; increases in cash $1,000"
Hence, considering the available options, the right answer to the question is "None of the above"
Which of the following is not a characteristic of a cafeteria?
A tray is used to collect chosen dishes.
Customers tell servers what they want.
Food is displayed along the serving line.
Amounts are usually "all you care to eat" with no limits.
Answers
Answer:
The last option
Explanation:
In cafeterias you don't get an unlimited amount of what you want. Sometimes you don't even get what you want.
Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below.
Balance Sheets
2019 2018
Assets
Cash and equivalents $100 $85
Accounts receivable 275 300
Inventories 375 250
Total current assets $750 $635
Net plant and equipment 2,300 1,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 $85
Accruals 75 50
Notes payable 150 75
Total current liabilities $375 $210
Long-term debt 450 290
Total liabilities 825 500
Common stock 1,225 1,225
Retained earnings 1,000 400
Common equity 2,225 1,625
Total liabilities and equity $3,050 $2,125
Income Statements
2019 2018
Sales $2,265 $1,565
Operating costs excluding depreciation and amortization 1,250 1,000
EBITDA $1,015 $565
Depreciation and amortization 100 75
EBIT $915 $490
Interest 63 46
EBT $852 $444
Taxes (25%) 213 111
Net income $639 $333
Dividends paid $54 $48
Addition to retained earnings $585 $285
Shares outstanding 100 100
Price $25.00 $22.50
WACC 10.00%
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's 2019 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. Round your answer to the nearest cent.
Answers
The 2018 free cash flow for Rosnan Industries is $158. The balance sheet was the based on the Rosnan Industries' 2019 and 2018.
Particular 2018 2019
Current Asset $635 $750
Current Liability $135 $255
Net working capital 500 525
Net increases in working capital 25
The capital expenditure is made are computed:
Ending balance of fixed asset 2300
Add: Depreciation 100
Less: Begging of fixed amount 1490
Capital expenditure: 910
Net income: 677
Add: Depreciation 100
Less: Capital expenditure -910
Less: Net increases in Net WC -25
Free cashflow -158
The 2018 free cash flow for Rosnan Industries is $158.
As a result, the significance of the Rosnan Industries' 2019 and 2018 balance sheets are the aforementioned.
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HOW TO EASILY BUY A PASSPORT ONLINE.
Buy US Passport, Buy EU Passport, Buy Canadian Passport, Buy Australian Passport.
For more information, visit https://www.passportexpeditenetwork.com/
Answers
Stealth bank has deposits of $600 million. It holds reserves of $30 million and has purchased government bonds worth $320 million. The bank's loans, if sold at current market value, would be worth $500 million. What does Stealth bank’s net worth equal?
Answers
Based on the value of the deposits at Stealth bank, the reserves, the loans, and the government bonds, the net worth of Stealth Bank is $810 million.
How to find the net worth?To find the Net Worth of Stealth Bank, the formula would include subtracting the assets from the liabilities.
The formula for the net worth of Stealth Bank is:
Net Worth = Assets - Liabilities
The Assets of Stealth bank are:
= Reserves + Deposits + Value of bank loans
= 30 million + 600 million + 500 million
= $1,130 million
The liabilities of Stealth Bank are the government bonds of $320 million.
The Net Worth of Stealth Bank is:
= Assets - Liabilities
= 1, 130 million - 320 million
= $810 million
In conclusion, the net worth that Stealth Bank has can be found to be $810 million.
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Who will be the first Trillonare in this world ?
Answers
The person who is expected to become the first Trillionaire is Jeff Bezos, founder, and CEO of Amazon.
According to a study conducted by Comparison, Jeff Bezos could become the world’s first Trillionaire by the year 2026. This prediction was made on the basis of the average percentage of growth of Bezos’ net worth over the last five years. The study also highlighted that Bezos’ wealth has grown by an average of 34% over the last five years. At this rate of growth, his net worth could reach $1 trillion by the year 2026.
However, the current COVID-19 pandemic has had a negative impact on the economy, and Bezos’ net worth has already decreased by over $20 billion since the start of the pandemic. Despite this, it is still possible that Bezos may become the world’s first Trillionaire in the future, but there are also other contenders who could reach this milestone, such as Elon Musk, CEO of Tesla and SpaceX. However, as of now, there is no confirmed Trillionaire in the world.
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