Answer:
(a)
Dr. Cr.
Feb 1
Investment $7,200
Cash $7,200
Jul 1
Cash $600
Dividend Income $600
Sep 1
Cash $4,300
Gain on sale $700
Investment $3,600
(b) Dividend will be shown as other income in the revenue section of Income statement. Gain on sale of common share will be reported on income statement after operating profit.
Explanation:
Per Share Purchase Price = 7200 / 600 = $12
300 Shares Purchase Price = $12 x 300 = 3,600
The fortunes of the English gentry degenerated primary due to the reformation of the voting law. Initially, only land-owning gentry has the right to vote and they used their right to control the laws governing land ownership. When the voting law was reformed, the power of the gentry diminished, enabling non-gentry individuals to own land and create factories.
Since, the English gentry get their fortunes from leases on their lands used for farming, they were very affected when the people working on their lands opted to go to the city and become factory workers. Thereby decreasing their rental income.
Land taxes also increased and because some portion of the English gentry's land became idle and unproductive, they were not able to pay the increasing land taxes; forcing them to sell and dispose of their land to meet their tax obligations.
<span>B.Prevent unfair or deceptive business practices.
</span>
Answer: 21%
Explanation: The developer purchased 3 properties and he can buy each property for $20 per square foot.
Therefore: 75 × 110 =8250 square feet.
8250 × $20 = $165 000 per lot.
Each lot was sold for $200 000. Which means the developer made profits of:
$200 000 - $165 000 = $35 000 per lot.
The percentage of profit on each lot is:
Percentage of profit on cost amount:
= 
= 0.2121212 recurring × 100
= 21,21%
Percentage of profit on sale amount:
= 
= 0.175 × 100
= 17,5%
