Answer:
Answer is given below.
Explanation:
Economic Unit Concept
2014 2015
Jannison Inc. 308000 364000
Techron Co. 98000 126000
Sub Total 406000 490000
Less : Amortization 11000 11000
Total Net Income 395000 479000
Non Controlling Interest
= 10 % of Techron Co,
(after deduction of amortization expense)
= 10% (98000-11000) 8700
= 10% (126000-11000) 11500
Consolidated Net income 386300 467500
(after Noncontrolling interest allocation)
Under Economic unit concept both business are taken as a single business unit, and accordingly incomes of both entities are clubbed to find income of business as whole
Answer:
$2,190
Explanation:
In reporting gross income cash bonuses are included included in income. This is because such bonuses are regarded as income, companies sign contracts with customers promising to pay a certain amount as bonus for meeting a certain performance target.
Awards are not considered part of gross income up to $400. Awards can be for length of service, an achievement and son on.
So the amount included in gross income is $2,190. The gold watch worth $363 is not included as it does not reach the limit of $400.
Answer:
B)debit Interest Expense, $200; credit Interest Payable, $200
Explanation:
The adjusted journal entry for the interest expense is shown below:
Interest expense A/c Dr $200
To Interest payable $200
(Being the interest adjusted entry is recorded)
Since we have to record the interest expense from September 1 to September 30 which reflects 1 month and the computation of interest expense is shown below:
= Principal × rate × (number of month ÷ total number of months in a year)
= $40,000 × 6% × (1 ÷ 12)
= $200
Answer:
Strike price of October gold future = $1,200 per ounce
The exercise price = $1,180
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<em>To calculate the amount that will help the investor to decide about the position</em>
Amount added to margin = (Strike price - Future price) * Delivery if each contract
Amount added to margin = ($1,200 - $1,180) * 100
Amount added to margin = $20 * 100
Amount added to margin = $2,000
Therefore, the amount of $2,000 is received. The investor has short position on future contracts to sell 100 ounces of gold in October.
Answer:
The answer is;
Deviation is the difference between the observed value of a quantity and the true value, residual is the difference between the observed value of a quantity and the mean of the observed values
Explanation:
The error of an observed value is the deviation of the observed value from the true value of a quantity of interest (for example, a population mean).
The residual of an observed value is the difference between the observed value and the estimated value of the quantity of interest (for example, a sample mean)
