Sweet Corporation purchased 360 shares of Sherman Inc. common stock for $11,900 (Sweet does not have significant influence). During the year, Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $37.50 per share. Prepare Sweet's journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.)
Answers
Answer:
(a) Debit Equity Investments for $11,900; and Credit Cash for $11,900.
(b) Debit Cash for $1,170; and Credit Dividend Revenue for $1,170.
(c) Debit Fair Value Adjustment for $1,600; and Unrealized Holding Gain or Loss - Income for $1,600.
Explanation:
(a) Journal entries to record the purchase of the investment
The journal entries will look as follows:
Accounts Title and Description Debit ($) Credit ($)
Equity Investments 11,900
Cash 11,900
(To record the purchase of the investment.)
(b) Journal entries to record the dividends received
The journal entries will look as follows:
Accounts Title and Description Debit ($) Credit ($)
Cash (w.1) 1,170
Dividend Revenue 1,170
(To record the dividends received.)
(c) Journal entries to record the fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.
The journal entries will look as follows:
Accounts Title and Description Debit ($) Credit ($)
Fair Value Adjustment (w.2) 1,600
Unrealized Holding Gain or Loss - Income 1,600
(To record the fair value adjustment.)
Workings:
w.1: Cash = Dividend received = Number of shares * Cash dividend per share = 360 * $3.25 = $1,170
w.2: Fair Value Adjustment = Fair value - Common stock purchase cost = (Number of shares * Selling price per share) - Common stock purchase cost = (360 * $37.50) - $11,900 = $1,600
Related Questions
Inflation is known to be a builder of ones wealth.
Question 3 options:
True
False
Answers
Explanation:
false
hope it's helpful to you
Equipment with a cost of $240,000 has an estimated residual value of $18,600, has an estimated useful life of 12 years, and is depreciated by the straight-line method.
Answers
The annual depreciation expense for the equipment using the straight-line method is $18,450.
In this scenario, the equipment has a cost of $240,000, an estimated residual value of $18,600, and an estimated useful life of 12 years. The equipment is depreciated using the straight-line method.
Depreciation is a method used to allocate the cost of an asset over its useful life. The straight-line method is a commonly used depreciation method where the cost of the asset is evenly spread out over its useful life.
To calculate the annual depreciation expense using the straight-line method, we subtract the estimated residual value from the cost of the equipment and divide the result by the estimated useful life:
Depreciation Expense per Year = (Cost - Residual Value) / Useful Life
Depreciation Expense per Year = ($240,000 - $18,600) / 12
Depreciation Expense per Year = $221,400 / 12
Depreciation Expense per Year = $18,450
Therefore, the annual depreciation expense for the equipment using the straight-line method is $18,450.
By depreciating the equipment over its useful life, the company is spreading out the cost of the equipment in a systematic manner, reflecting its gradual wear and tear and decrease in value over time. This approach allows for the matching of expenses with the revenue generated by the equipment's usage throughout its useful life.
It's important to note that depreciation methods and useful life estimates may vary depending on accounting standards and individual company policies. Additionally, the estimated residual value represents the expected value of the equipment at the end of its useful life, accounting for potential salvage or resale value.
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First one to answer gets a brainly, look at the picture please
Answers
Answer:
c
Explanation:
Answer: B
Explanation:
Becky's brother's management fees made her think about the fees on her own investments.
She started some calculations and wrote the equation: f(x-1.5)=20.
In the context of this situation, what does Becky's equation mean?
Answers
According to the equation, it means that the management charge is limited to 1.5% of the expected return, and "X" represents the overall rate of return that is anticipated.
What does rate of return mean?The change in an investment's value expressed as a percentage is known as the annual rate of return. For instance, if you believe you will earn a 10% annual rate of return, you believe your investment will grow in value by 10% annually.
Total return measures the actual annual rate of return on an investment or portfolio of investments. Dividends, realized distributions, interest, and capital gains are all included in the total return. A percentage of the amount invested is used to represent total return.
To put it simply, if the rate of return, for example, is 40% and the management charge is 1.5% of 40%, the real return rate will be presented as 1.5% x 40 =0.6.
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Describe why the facility should have an inventory
list of equipment.
Answers
so people don't buy the same things again & again
to see
whats in stock
where they are displayed
how many they have
keep track of inventory
plan for restocking
know which items are running low
asset value for accounting or financial purposes.
Overall, an inventory list of equipment is a fundamental tool for facility management, providing comprehensive oversight, efficient maintenance planning, cost control, compliance adherence, emergency preparedness, and facilitating decision-making processes. It streamlines operations, enhances asset management, and contributes to the overall productivity and functionality of a facility.
Keeping Track: An inventory list helps facility managers know what equipment they have and where it is located.
Taking Care: The list helps plan when to fix or maintain equipment so it stays in good condition.
Saving Money: By knowing what equipment they have, managers can avoid buying things they don't need and spend money wisely.
Following Rules: Some facilities have rules to follow, and the inventory list helps managers keep track of important things like safety checks and paperwork.
Being Ready for Emergencies: The inventory list helps managers know which equipment is important during emergencies like fires or storms.
Planning and Buying: The inventory list helps managers decide what new equipment to buy and make a budget.
Talking to Insurance and Money People: The inventory list helps when talking to insurance or money people because it shows what equipment the facility has and how much it's worth.
provides information about the administrative and clinical machines in the facility.
gives you more control over your business' assets.
equipments inventory list provides information about the administrative and clinical machines in the facility. This information is used by the provider, supervisor, and/or accountant for future planning and tax paperwork
What is the unemployment rate in Cuba?
Answers
Answer:
Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Cuba unemployment rate for 2020 was 3.87%, a 2.2% increase from 2019. Cuba unemployment rate for 2019 was 1.67%, a 0.03% decline from 2018.
Explanation:
If you could advise Sally about how to manage ethics in this situation what would you say explain
Answers
In a bid to manage ethics you should consider
Be an example and make yourself known. Top managers serve as a model for what is appropriate conduct for employees.Communicate Expectations for Ethical Behavior.Provide ethics education.Provide Protective Mechanisms, Clearly Reward Ethical BehaviorPunish Unethical Behavior.This is further explained below.
What is ethics?Generally, The study of ethics, often known as moral philosophy, "involves systematizing, defending, and endorsing conceptions of good and bad action," according to one definition of this subfield of philosophy.
Matters of worth are the focus of both the discipline of ethics as well as the area of aesthetics; together, these subjects make up the subfield of philosophy known as axiology.
In conclusion, At its most fundamental level, ethics may be seen as a set of moral guidelines.
They have an impact on the choices that individuals make and the way they direct their life.
The study of ethics, often known as moral philosophy, is focused on determining what is beneficial for individuals as well as for society.
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CQ not Found
Describe the battle between the retail supermarket and the e-commerce platform in the world
HELP ME !!!
Answers
There is an endless battle between the retail supermarket and e-commerce. Both sectors want their revenue and profits high so they use their own techniques.
What is E-Commerce?E-Commerce is the online shopping platform that has provided a cutting edge technology and ease to the buyers. This platform enables the buyer to make purchases without visiting the store.
Retail supermarkets claim that they have a large variety of products that are displayed on the store which can be seen easily by the buyer and their complete details are available including the manufacturing and expiry date. E-Commerce provide the comfort purchasing but is a little costly as the shipping is not always free. However when visiting a retail supermarket it seems difficult to walk around and find the wanted products which in e-commerce is just a search bar away.
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what is cost variance
Answers
Answer:
Cost variance is the difference between the actual cost incurred and the planned/budgeted cost at a given time on a project.
Explanation:
Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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"Stock in Daenerys Industries has a beta of 0.73. The market risk premium is 10 percent, and T-bills are currently yielding 5 percent. The company's most recent dividend was $1.6 per share, and dividends are expected to grow at a 5.5 percent annual rate indefinitely. If the stock sells for $35 per share, what is your best estimate of the company's cost of equity? Use the average from CAPM and Dividend Growth Model calculations."
Answers
Answer:
CAPM = 12.30%
Dividend Growth Model= 10.32%
Explanation:
According to the capital asset price model: Expected rate of return = risk free + beta x (market premium)
5% + (0.73 x 10%) = 12.30%
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = cost of equity
g = growth rate
$35 = $1.6 x (1.055) / (r - 0.055)
r = 1.688 / 35 + 0.055 = 0.1032 = 10.32%
Using the Internet, local newspapers, and/or any regional information, write a 500-word report on on-line banking. In your report, tell of the advantages (if any) over regular banking. Why would it be attractive to people? What conveniences are offered? Is it safe, or will other people get access to your accounts?
Answers
Introduction:
In today's digital age, the convenience and accessibility of online banking have revolutionized the way people manage their finances. With the advent of the internet and advanced technology, traditional banking has been transformed, offering numerous advantages to account holders. This report explores the benefits, conveniences, and safety measures associated with online banking, addressing concerns about security and access to accounts.
Advantages of Online Banking:
1. Convenience: Online banking provides unparalleled convenience, allowing individuals to access their accounts anytime and anywhere. Whether from the comfort of their homes, offices, or while on the go, customers can perform various banking transactions with just a few clicks. This eliminates the need to visit physical bank branches, saving time and effort.
2. 24/7 Accessibility: Online banking operates round the clock, providing customers with continuous access to their accounts and financial information. This flexibility enables individuals to check balances, review transaction history, transfer funds, pay bills, and manage investments at their convenience, even outside traditional banking hours.
3. Enhanced Efficiency: Online banking streamlines financial tasks by automating processes that would typically require manual intervention. Features like recurring payments, online transfers, and electronic statements simplify account management, making it easier to track expenses and monitor financial health.
4. Cost Savings: Online banking often offers reduced or waived fees compared to traditional banking services. Electronic transactions, such as online bill payments and fund transfers, eliminate the need for paper checks and postage fees. Additionally, online banks may have lower overhead costs, allowing them to pass on these savings to their customers.
Conveniences Offered by Online Banking:
1. Online Bill Payment: Online banking enables users to pay bills electronically, eliminating the hassle of writing checks and mailing payments. Many banks offer automated bill payment options, allowing customers to set up recurring payments for regular expenses, ensuring bills are paid on time.
2. Mobile Banking: The rise of mobile banking applications provides users with the convenience of accessing their accounts and conducting transactions directly from their smartphones or tablets. Mobile banking apps offer functionalities such as mobile check deposit, account alerts, and real-time balance updates, enhancing the banking experience on the go.
3. Electronic Fund Transfers: Online banking facilitates quick and secure fund transfers between accounts, both within the same bank and to other financial institutions. Transferring money to family, friends, or businesses is made simple through features like interbank transfers, person-to-person payments, and wire transfers.
Safety and Security Measures:
Online banking employs advanced security measures to protect customers' financial information and transactions. These measures typically include encryption protocols, secure login procedures, and multifactor authentication. Additionally, reputable online banks implement robust firewalls and regularly update their systems to safeguard against cyber threats.
While online banking has seen significant advancements in security, it is crucial for users to practice responsible online behavior. This includes regularly updating passwords, being cautious of phishing attempts, and ensuring the use of secure networks when accessing online banking platforms.
Conclusion:
Online banking offers numerous advantages and conveniences that have made it an attractive option for many individuals seeking efficient and accessible financial management. The convenience of 24/7 access, cost savings, and streamlined processes are key factors that have contributed to its popularity. When coupled with the industry's commitment to robust security measures, online banking provides a safe and reliable means of managing personal finances in the digital age.
Note: The information provided in this report is based on general knowledge and may vary depending on the specific online banking services and institutions. It is advisable to consult the policies and terms of your chosen online banking provider for detailed information.
With the CEO and driver of the company—Howard Schultz—stepping down as the company’s unquestioned leader, do you expect Starbucks to change its foreign market entry strategy in any way?
Answers
Answer:
The short answer to that is No, Starbucks will not change its foreign market entry strategy.
Explanation:
The reasons are as follows:
did Howard Schultz lose his shares when he stepped down? This is highly unlikely and according to the rules of corporate governance may depend on his contract. So stepping down as the chairman does not necessarily translate to losing control. Corporations such as Starbucks: don't just up and change direction. Strategies are usually vetted by the board of directors. Whoever the majority shareholder is (corporate person or individual) will always have a say regarding the expansion of the business. Howard Schultz has stepped down in 2018. At that time, Starbucks had a total of 28,000 stores in 77 countries. Currently, there are 15,000 in 50 countries. This reduction didn't happen because Howard stepped down but because of the recent pandemic which hit the globe in 2020.Cheers
The Global Community Bank, under terms of its long-term banking agreement with the company, has agreed to lend the company additional monies should you elect to use debt to help finance growth and other financial needs; the interest rate the GCB will charge on such loans is tied to the term of the loan (1-year, 5-years, 10-years) and also to
Answers
The interest rate to be charged is tied to the loan term, company's credit rating and going rates of interest in world financial markets.
What is an Interest rate?An Interest rate refers to an amount charged by a lender on a debt which is expressed as a percentage of the principal.
Hence, the interest rate to be charged is tied to the loan term, company's credit rating and going rates of interest in world financial markets.
In conclusion, the Option D is correct.
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which business function is concerned with delivering a product or service to customers?
Answers
Answer:
Production
Production departments or companies are the manufacturing branches of a business to produce products or delivery of services to customers
A perfectly competitive firm's short-run supply curve is: A) its marginal cost curve above its minimum average variable cost. B) the upward sloping portion of its average variable cost curve. C) the upward sloping portion of its marginal cost curve. D) its average total cost curve.
Answers
The short-run supply curve of a perfectly competitive firm is A) its marginal cost curve above its minimum average variable cost.
What is the short run supply curve for the firm with perfect competition?After the point where the MC curve and AVC (average variable cost) curve intersect and the AVC is at its minimum, the short-run supply (SS) curve of a perfectly competitive (PC) company is the MC (marginal cost) curve.
Why does a firm with perfect competition have an upward-sloping short-run supply curve?It is accurate because a firm will experience a short-term decline in marginal return if it increases both fixed and variable inputs into the production process. The slope of the supply curve is rising as production rises, however at a falling rate as a result of the excessive rise in variable inputs.
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Substitute x = b 2 into the simplified expression, the value was 20.
Answers
Answer:
b= 10 x = 20
Explanation:
b= 10. 10 x 2 =x
Therefore the value of X is 20 if you substitute the value twenty for x then divide that value by two you received your variable b's answer.
An online streaming service sells movie rentals for $5.99 to its American shoppers. A large American chain store sells a physical copy of the same movie for $5.99. Which of the following is a possible reason that the online streaming service could expect to rent a movie for the same price that it could be purchased for somewhere else?(1 point)
a. Government intervention on maximum prices is the most common cause of abnormal market pricing. In general, the government will set a maximum on the prices of common goods. The retailer selling the movie might like to charge more but may not be able to.
b. Lack of knowledge is an important factor in determining market prices. Retailers almost always assume that shoppers don't look around for a bargain and will generally charge whatever price they want.
c. Location is an important factor in determining market prices. For the online streaming service, the buyer doesn't even have to leave his or her home, while the physical copy would need to be picked up at the store. The online retailer can charge the same price for a lesser product because the retailer is conveniently located for the consumer.
d. Government intervention on minimum prices is the most common cause of abnormal market pricing. In general, the government will set a minimum on the prices of common goods. The online retailer renting the movie might like to charge less but may not be able to.
Answers
Answer:
C
Explanation:
You can often sell less of product for more money if convenience is added to the product value.
for example, you I to gas station & pay more for a 20oz soda than our do a 2liter. you're getting way less soda for twice the amount. you are paying for the convenience of not carrying around a 2 liter
A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
Answers
Answer:
The amount allocated to cost of goods sold for July is $2,070.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Olympus Climbers Company has the following inventory data:
July 1 Beginning inventory 30 units at $19 $570
7 Purchases 105 units at $20 2100
22 Purchases 15 units at $22 330
$3000
A physical count of merchandise inventory on July 30 reveals that there are 48 units on hand. Using the LIFO inventory method, the amount allocated to cost of goods sold for July is
The explanation of the answers is now provided as follows:
Last in, first out (LIFO) inventory method refers to a method under which the costs of the costs of the most recent goods purchased or manufactured are expensed first.
Thereforee, the amount allocated to cost of goods sold for July can be calculated as follows:
Total units available for sales = 30 + 105 + 15 = 150 units
Units sold = Total units available for sales - Units on hand on July 30 = 150 - 48 = 102 units
Cost of goods sold for July = Value of 15 units July 22 purchases + (87 units * Cost per units of purchases on July 7) = $330 + (87 * $20) = $330 + $1,740 = $2,070
Therefore, the amount allocated to cost of goods sold for July is $2,070.
35 points here
The company ABC made a net profit of €5.0 million, although announced a
dividend payment of €7.0 million. The company is in an investment cycle and
has a significant level of debt.
Is this correct or not? and why
Answers
Answer:
Not correct
Explanation:
The profits of a business are either shared among its shareholders or retained for further re-investment. Retained profits remain in the company accounts as reserves until a suitable investment opportunity arises. If a business has accumulated reserves for several periods, and no investment opportunity is forthcoming, the management distributes the reserves together with dividends.
Company ABC made a profit of €5.0 million but declared dividends of €7.0 million. The extra €2.0 million must have come from the company's reserves. Company ABC must have had some retained earning, which it did not manage to invest. The retained earnings represent excess cash being held by the business, which means company ABC is not in debt. It is not in an investment cycle either; otherwise, it would have used its retained earnings.
Why do you look like dababy?
Answers
Answer:
nah i am dababy if you try to be me again i will turn you into a convertible
Explanation:
Gantt charts are most helpful when:
Answers
Answer: For planning and scheduling projects.
If a website is designed with responsive design concepts, then
Answers
If a website is designed with responsive design concepts, then it appears correctly on any device regardless of screen size.
A well-designed website will be easy to use and navigate, with clear and consistent branding throughout. It will also have a strong visual identity, with carefully selected imagery and typography that reinforces the overall message.
The individual design concepts on each page need to work together to create a cohesive whole. The layout should be easy to follow, with a clear hierarchy of information.
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Which of the following areas of sports law most related to antitrust?
A. Contracts
B. Monopoly
C. Fan Safety
D. Memorabilia
Which area of sports management is least affected by the law?
A. League regulations
B. Game Outcomes
C. Antitrust
D. Contracts
Answers
There isn't any particular legislation. The Contracts Act mostly regulates sports law. According to Gaurang Kanth, the phrase "sports law" is used to refer to a broad range of legal concerns pertaining to different sports, including amateur and professional sports played on a national and worldwide level. Introduction. As long as people have existed as purposeful, athletic, and active beings, sports have existed. According to Gaurang Kanth, the phrase "sports law" is used to refer to a broad range of legal concerns pertaining to different sports.
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2.1.3. Briefly explain the term Gross Domestic Product.
Answers
Answer:
it is the total value of goods produced and services provided in a country during one year.
Explanation:
Barton Corporation acquires a coal mine at a cost of $1,800,000. Intangible development costs total $360,000. After extraction has occurred, Barton must restore the property (estimated fair value of the obligation is $180,000). Barton estimates that 6,000 tons of coal can be extracted. What is the amount of depletion per ton
Answers
Answer: $390 per ton
Explanation:
The depletion per ton is:
= Total cost of acquiring the coal mine / Number of tons that can be extracted
= (Acquisition cost + intangible development cost + Fair value of restoration) / Number of tons that can be extracted
= (1,800,000 + 360,000 + 180,000) / 6,000
= $390 per ton
What is a broadcast? What pathway do you find this in?
Answers
Answer:
A broadcast is when people talk into the radio and play music and talk like news i think (not sure but hope it helps)
Explanation:
dont know your other ques
Answer:
A broadcast is a frame that is sent from one device and is sent to every other device in that broadcast domain. You can find broadcasts by looking for the IP address and the subnet mask.
Explanation:
Hope this helps! ^^
contents of the workmen's compensation act
Answers
Answer:
The Workmen's Compensation Act, 1923 provides for payment of compensation to workmen (or their dependants) in case of personal injury caused by accident or certain occupational diseases arising out of and in the course of employment and resulting in disablement or death. The Act was last amended in 1976.
Hope this answer is right!
define electronic communication
Answers
Answer:
this is any information sent between particular parties over a phone line or internet connection. This includes phone calls, faxes, text messages, video messages, emails and internet messaging.
while everyone's personal financial goal will be to their situation, the means for achieving them will be similar. what is one of the most common ways people work to reach their financial goals?
A) decrease their savings
B) decrease their income
C) increase their savings
D) increase their spreading
Answers
Answer:
C) increase their savings
Explanation:
Saving is the act of setting aside a portion of one's income in a secure location rather than spending it. It's a method that businesses and individuals utilize to meet their financial goals. Saving consistently throughout time helps to acquire a significant sum of money that can be used to achieve financial goals. While saving is not the primary financial goal, it is a means to that end. If one's objective is to acquire a home or a car, for example, they begin saving for the down payment. Saving aids them in achieving their long-term objectives.