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saul85 [17]
1 year ago
6

TRUE/FALSE if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailme

nt has been formed.
Business
1 answer:
adoni [48]1 year ago
3 0

if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailment has been formed-True

<h3>bailment</h3>

A bailment is a form of the legal relationship that focuses on the contractual transfer of assets or property from a bailor to a baile who voluntarily but temporarily gives up possession but not complete ownership. Even though no contract is formalized, a bailment is a type of contractual relationship. The person receiving the property (the "bailee") has custody and control over it for a certain amount of time, during which he or she is responsible for taking reasonable care of it.

To know more about bailment visit the link

brainly.com/question/24157554

#SPJ4

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Leker exchanged real property that was used exclusively for business and had an adjusted tax basis of $20,000 for new real prope
goldfiish [28.3K]

Answer:

$17,000

Explanation:

Leker's Old Property Adjusted Tax Basis = $20,000

To calculate the new basis, subtract the $3000 recieved in cash from the new property.

New Tax Basis; $20,000-$3,000= $17,000

The transaction of Leker to exchange a real property for another led to a loss: Meaning a Property of $20,000 was exchanged for a property of $10,000+ $3,000 (cash)= $13,000

The Loss on the transaction= $20,000- $13,000= $7,000

Due to the loss no gain is recognized and the $3000 will reduce the basis for his new asset.

6 0
3 years ago
Turnbull Co. is considering a project that requires an initial investment of $1,708,000. The firm will raise the $1,708,000 in c
Sedaia [141]

Answer:

11.25%

Explanation:

Tunbull Co. are planning to start a project that requires an initial investment of $1,708,000

The firm is able to raise $1,708,000 in capital by issuing an amount of $750,000 in debt

Before-tax cost is 10.2%

Preferred stock is $78,000 at 11.4%

The equity is $880,000 at a cost of 14.3%

Tax rate is 40%

The first step is to calculate the weight of preferred stock, weight of debt, weight of equity and after-tax cost of debt.

(a)Weight of preferred stock

= $78,000/$1,708,000

= 0.0457

(b)Weight of debt

= $750,000/$1,708,000

= 0.04391

(c) weight of equity

= $880,000/$1,708,000

= 0.5152

(d) After-tax cost of debt

= 10.2% × (1-25/100)

= 10.2% × ( 1-0.25)

= 10.2%×0.75

= 7.64

Therefore, the wacc can be calculated as follows

Wacc= (weight of debt×after-tax cost)+(weight of preferred stock×cost of preferred stock)+(Weight of equity×cost of equity)

= (0.4391×0.0765)+(0.0457×0.1140)+(0.5152×0.1430)

= 0.03359+0.0052+0.07367

= 0.1125×100

= 11.25%

Hence the wacc for this project is 11.25%

6 0
2 years ago
Can someone help me with numbers 17 - 22 or check if I got it right ? This is accounting
Svetllana [295]
Hard dm me and I know what it is for sure
4 0
3 years ago
You have just purchased a share of stock for $ 19.09. The company is expected to pay a dividend of $ 0.51 per share in exactly o
frozen [14]

Answer:

$20.64

Explanation:

Use the rate of return formula to solve for the new price;

r = ( P1 +Div1 -P0)/P0

whereby;

r = rate of return = 10.8% or 0.108 as a decimal

Div1 = Next year's dividend amount = $0.51

P1 = next year's stock price =?

P0 = Current stock price = $19.09

Next, plug in the numbers to the formula;

0.108 = (P1 + 0.51 - 19.09) / 19.09

Multiply both sides by 19.09;

2.0617 = P1 -18.58

Add 18.58 on both sides;

2.0617 + 18.58 = P1

20.64 = P1

Therefore, you need to sell the share at $20.64

8 0
3 years ago
The firm was organized and the initial stockholders invested cash of $780. The company borrowed $1,170 from a relative of one of
Eduardwww [97]

Answer:

Follows are the solution to this question:

Explanation:

                             Cardinal Moving Services Inc. in its Books

   Payment                  Common Journal               Dr.               Cr.

      1                            Currency Cash.                     $780        

                                    Joint Vesicles                                                 $780

                   (To Common Stock Record Problem)

     2                       Currency Cash.                            $1,170

                                 Paying notes                                                        $1,170

                     (Quantity borrowed from the relative to the record)

    3                        Material                                         $1,417

                             Currency Cash.                                                     $1,417

(to record buying of 2 mover lawns $624 each and 1 trimmer career $169)

   4                             Supplies                                    $117

                                   Currency Cash.                                                 $117  

(The buying of fuel, oil, and waste bags to Record)

  5                            Costs of ads                                $221    

                              Cashable Account                                                 $221            

(Advertising flyer for business training on behalf of To Record)

  6                              Currency Cash.                       $605    

                             Receivable Account                        $312

                                Income Service                                                       $917

(For the very first two weeks of operation, to report service revenue)

    7                             Spending on wages                   $546

                                     Currency Cash.                                                $546

          (For first two weeks, to report wage expenditure)

    8                             Supplies                                        $143

                             Currency Cash.                                                           $143

(The acquisition of gasoline, oil, and garbage bags for documentation purpose)

   9                                  Currency Cash.                         $488

                                        Receivable Account                  $708

                                          Income Service                                         $1,196

   (For the last 2 weeks of the first month, to report service revenue)

 10                                        Wages Cost                        $663

                                            Payable salaries                               $663

                  (For two weeks to report accrual wage expenses)

  11                                    Budget for supplies                    $221

                                                  Supplies                                 $221

                              (To record the cost of supplies)

  12                                          Currency Cash.                 $195

                                              Receivable Account                  $195

                           (The customer's payment to Record)

working                                    Delivery Costs

                                   Purchases for supplies [$117 + $143]   $260 

                                      Less: Hand supplies                          ($39)

                                  Expense of production                           $221

7 0
3 years ago
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