In custom reports, what must metrics and dimensions share in order to report accurately?.

The balance sheet data of Corinne Company at the end of 2025 and 2024 follow: 2025 2024 Cash $50 $70 Accounts receivable (net) 3

dezoksy [38]

Answer:

Corinne Company

Investing Activities Section of the Statement of Cash Flows:

Equipment sales $12

Equipment bought ($58)

Net cash used ($46)

Explanation:

a) Data and Calculations:

Balance Sheet of Corinne company at the end of 2025 and 2024:

2025 2024

Cash $50 $70

Accounts receivable (net) 320 270

Buildings and equipment 200 150

Accumulated depreciation

- buildings and equipment (36) (16)

Land 180 80

Totals $714 $554

Accounts payable $180 $146

Notes payable- bank long term 0 80

Mortgage payable 60 0

Common stock, $10 par 418 318

Retained earnings 56 10

Totals $714 $554

b) other information:

Land and Common Stock exchange

Equipment sold for $12 (cost $10 and book value $8)

Cash dividends $20

c) Equipment account

Beginning balance 150

Equipment sold -8

Balance 142

Closing balance 200

Purchase of new 58 (200 - 142)

5 0

3 years ago

Bond prices depend on the market rate of interest, stated rate of interest, and time. Determine whether the following bonds pa

Aleksandr-060686 [28]

Answer:

Determine whether the following bonds payable will be issued at face value, at a premium, or at a discount:

a.The market interest rate is 8%. Idaho issues bonds payable with a stated rate of 7.75%.

Bonds issued at discount because market rate is higher than the bond's coupon rate.

b.Austin issued 9% bonds payable when the market interest rate was 8.25%.

Bonds issued at premium because market rate is lower than the bond's coupon rate.

c.Cleveland's Cars issued 10% bonds when the market interest rate was 10%.

Bonds issued at par because bond's coupon rate is equal to the market rate.

d.Atlanta's Tourism issued bonds payable that pay the stated interest rate of 8.5%. At issuance, the market interest rate was 10.25%.

Bonds issued at discount because market rate is higher than the bond's coupon rate.

8 0

3 years ago

In 20X1, Modern Property Groups collected rent revenue for 20X2 tenant occupancy. For financial reporting, the rent is recorded

vekshin1

Answer:

Debit deferred tax asset for $12,000

Debit income tax expense for $18,000

Credit income tax payable for $30,000

Explanation:

The journal entries will look as follows:

Date Account Name and Description Debit ($) Credit ($)

20X1 Deferred tax asset (w.1) 12,000

Income tax expense (w.3) 18,000

Income tax payable (w.2) 30,000

(To record income taxes at the end of 20X1.)

Workings:

w.1: Deferred tax asset = Deferred portion of the rent collected in 20X1 * Tax rate = $40,000 * 12% = $12,000

w.2: Income tax payable = Taxable income * Tax rate = $100,000 * 30% = $30,000

w.3: Income tax expense = Income tax payable - Deferred tax asset = $30,000 - $12,000 = $18,000

7 0

3 years ago

A city sells $15 million of general obligation bonds on October 1, 2019. The bonds mature at the rate of $1 million a year each

alexgriva [62]

Answer:

The multiple choices are:

a.$15,000,000

b. $14,000,

c. $13,750,000

d. $0

The correct option is D,$0

Explanation:

The city by all standards should have adopted a modified accrual basis of accounting where amounts owed in terms of principal and interest payments are not recorded in the necessary books of accounts until they become due.

As at 30,2020,the amount due in respect of the loan has been recorded and paid off,hence as at 31st December,2020,no amount is due in respect of the general obligation bonds issued,hence no recording would be effected until next obligation date when the amount to be paid is due

4 0

3 years ago

Which management career often requires a master’s degree?

Ray Of Light [21]

Chief Executives is the answer

8 0

3 years ago

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