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inysia [295]
2 years ago
14

If+the+offering+price+of+an+open-end+fund+is+$12.30+per+share+and+the+fund+is+sold+with+a+front-end+load+of+5%,+what+is+its+net+

asset+value?+(round+your+answer+to+2+decimal+places.)
Business
1 answer:
Leni [432]2 years ago
3 0

What is Net Asset Value?

Net asset value is the value of an entity's assets less the value of its liabilities, which is frequently used in relation to open-end or mutual funds because shares of such funds registered with the Securities and Exchange Commission are redeemed at net asset value.

Main Content

$11.69

offering price= NAV / (1-load)

12.30=NAV / (1-0.05)

12.30=NAV / (0.95)

12.30 x 0.95 = NAV

NAV= 11.69

To learn more about Net Asset Value

brainly.com/question/28075110

#SPJ4

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A copyright must be registered for a person to have rights to his or her work.<br> True<br> Or False
ira [324]

Answer:false Explanation:

6 0
3 years ago
Read 2 more answers
Pina Football Shop began operations on January 2, 2017. The following stock record card for footballs was taken from the records
Volgvan

Answer:

A. FIFO $1,794

B. LIFO $6,326

Explanation:

(a) Computation for the December 31, 2017, inventory using the FIFO method

Value of closing Stock

93 Footballs purchased in November = 93 * $16 93 Footballs purchased in November= $1,488

18 Footballs purchased in September= (111-93)* $17

18 Footballs purchased in September= 18* $17

18 Footballs purchased in September= $306

Total Value as on 31 December, 2017 =$1,488+$396

Total Value as on 31 December, 2017=$1,794

Therefore the December 31, 2017, inventory using the FIFO method will be $1,794

B.) Computation for the 2017 cost of goods sold using the LIFO method.

First step is to calculate the Value of closing Stock

67 Footballs purchased in January= 67 * $28

67 Footballs purchased in January = $1,876

44 Footballs purchsed in March= (111-67)* $23

44 Footballs purchsed in March=44*$23

44 Footballs purchsed in March= $1,012

Total Value as on 31 December, 2017=$1,876+$1,012

Total Value as on 31 December, 2017 = $2,888

Now let calculate the Cost of goods sold using this formula

Cost of goods sold

= Gross Invoice amount - Value of closing stock

Let plug in the formula

Cost of goods sold= $9,214 - $2,888

Cost of goods sold= $6,326

Therefore the 2017 cost of goods sold using the LIFO method will be $6,326

7 0
3 years ago
Oaktree Company purchased new equipment and made the following expenditures:
const2013 [10]

Answer:

                                  Cr.          Dr.

Equipment            $66,880

Account Payable                  $62,600

Cash                                      $4,280

Explanation:

All the costs incurred to make asset usable should be capitalised.

Equipment Cost = Purchase Price + Sales Tax + Freight Charges + Insurance Charges + Installation

Equipment Cost = $59,000 + $3,600 + $840 + $1,040 + $2,400

Equipment Cost = $66,880

4 0
3 years ago
On March 1, 2020, Pronghorn Company sold goods to Goosen Inc. for $600,000 in exchange for a 5-year, zero-interest-bearing note
maks197457 [2]

Answer:

a.

March 1, 2020

Dr Notes Receivable 923,174

Cr Discount on Notes Receivable 323,174

Cr Sales Revenue 600,000

Dr Cost of Goods Sold 368,000

Cr Inventory 368,000

b.

December 31, 2020

Dr Discount on Notes Receivable 45,000

Cr Interest Revenue 45,000

Explanation:

Pronghorn Company Journal entries

a.

March 1, 2020

Dr Notes Receivable 923,174

Cr Discount on Notes Receivable 323,174

Cr Sales Revenue 600,000

Dr Cost of Goods Sold 368,000

Cr Inventory 368,000

b.

December 31, 2020

Dr Discount on Notes Receivable 45,000

Cr Interest Revenue (9% X $600,000 X 10/12)45,000

4 0
2 years ago
Drew Co. uses the average cost inventory method for internal reporting purposes and LIFO for financial statement and income tax
Xelga [282]

Answer:

Dr Cost of Goods Sold  20,000

Cr LIFO Reserve           (20,000 )

Explanation:

<u>Journal Entr</u>y    

Dr Cost of Goods Sold  20,000

Cr LIFO Reserve                 (20,000 )

<u>Ending Balances after adjustment</u>:  

 

<u>Stocks</u>:

Inventories        375,000

<u>LIFO Reserve   </u>  <u> (55,000 )</u>

Total:                   320,000   ( Financial Statement and Income Tax compliance )

 

8 0
3 years ago
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