Answer:
The correct answer is C.
Explanation:
Giving the following information:
Cochrane Associate's net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 years later?
We need to use the following formula:
FV= PV*(1+i)^n
FV= 525*(1+0.075)^8
FV= $936.33
The adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.
<h3>Data and Calculations:</h3>
Value of property 10 months ago = $350,000
Increase in property values = 5%
Adjustment in property = $17,500 ($350,000 x 5%)
<h3>What is adjustment in property value?</h3>
This is the change in the value of property as a result of an increase or decrease in the values of comparable properties within the locality.
Thus, the adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.
Learn more about adjustment in property values here: brainly.com/question/15397430 and brainly.com/question/7142333
Answer:
$85,000
Explanation:
Given that,
Shares sold = 50,000 shares of $3 par common stock for $5
Buys back = 10% of its common shares outstanding for $7 per share
Total equity on December 31 = $300,000
Balance in stockholder's equity without retained earnings:
= Beginning balance in stockholder's equity + Increase in stockholder's equity - Decrease in stockholder's equity
= $0 + (50,000 × $5) - (50,000 × 10% × $7)
= $250,000 - $35,000
= $215,000
Retained earnings on December 31:
= Total equity at December 31 - Balance in stockholder's equity without retained earnings
= $300,000 - $215,000
= $85,000
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