1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Juli2301 [7.4K]
3 years ago
11

Harry Putts Productions held investments in equity securities​ (in Ellie ​Company) with a fair value of $ 60 comma 000 at Decemb

er​ 31, 2018. These investments cost Harry Putts Productions $ 57 comma 000 on January​ 1, 2018. What is the appropriate amount for Harry Putts Productions to report for these investments on the December​ 31, 2018​, balance​ sheet? (Assume that Harry Putts has insignificant influence over Ellie ​Company.).
Business
1 answer:
makkiz [27]3 years ago
6 0

Answer:

The appropriate amount for Harry Putts Productions to report for these investments on the December​ 31, 2018​, balance​ sheet is $60,000

Explanation:

Balance sheet: In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:  

Total assets = Total liabilities + stockholder equity  

The debit and credit side of the balance sheet should always be equal and balanced.  

Moreover, it always is prepared on the specified date.

The investment should be recorded in the balance sheet at the fair value instead of the market value. So, the $60,000 would be reported in the balance sheet ,not the $57,000 as it is the cost value of the investment.

You might be interested in
At the beginning of a year, a company predicts total direct materials costs of $1,010,000 and total overhead costs of $1,270,000
marin [14]

Answer:

1.267 = Overhead Rate

Explanation:

<em>As general approach,</em> the manufacturing rate, along with any rate is done by dividing the cost by a cost driver.

\frac{Cost\:Of\: Manufacturing\: Overhead}{Cost\: Driver}= $Overhead \:Rate

In this case teh cost is the manufacturing overhead and the cost driver the direct materials cost:

\frac{1,270,000}{1,010,000}= $Overhead Rate

<em>Using Direct Materials cost, the rate would be:</em>

1.257425743= $Overhead Rate

3 0
3 years ago
If Shawn can produce donuts at a lower opportunity cost than Sue, then ____
Archy [21]

Answer:

(A) Shawn has a comparative advantage in the production of donuts.

Explanation:

Shawn renounce to less goods than Sue when producing donuts.

This meas, Shawn has a comparative advantage in the production of donuts as their cost from the economic point of view are lower.

This do not imply that Sue cannot outproduce Shawn, it means it cost her more than Shawn

For example, if Sue produce 10 Donuts, but to produce donuts resing to produce 20 of other goods, each donut has an opportunity cost of 2

While Shawn can produce 8 donuts and resing to produce 8 of other goods:

each donut has an opportunity cost of 1

Therefore, is better for the overall economy to Shawn produce donuts and trade with Sue for the other good.

4 0
3 years ago
Jan, an employee of a distribution company, never speaks to anyone in her office. From when she arrives to when she leaves, no o
Brut [27]

Answer: behaviours

Explanation: An employee's behaviour is how they react to a certain circumstance in the work environment. This behaviour can be internally driven or can be adopted from external situations. This scenario depicts an external situation, as Jan based her movements on her how her employees operate. Jan decided that she will not speak to her coworkers, merely because she noticed that no else in the office does. And because she didn't want to stand out or seem different, she applied that same behaviour. This is a form of conformity, which is when someone adopts the beliefs, behaviours or norms of a group, in order to fit in with them.

6 0
3 years ago
​Andre, Beau, and Caroline share profits and losses of their partnership in a ​:​: ratio respectively. If the net income is ​, c
Brums [2.3K]

Answer: $545,454.55

Explanation:

Caroline's share of the profit would be her sharing ratio over the total ratio time the net income.

= (6 / ( 6 + 2 + 3)) * 1,000,000

= 6/11 * 1,000,000

= $545,454.545

= $545,454.55

7 0
3 years ago
All of the following are related to a takeover except a: A) tender offer. B) consolidation. C) going private transaction. D) pro
NARA [144]

Answer:

E

Explanation:

A takeover is when a company is faced with a hostile tender offer.

A strategic alliance agreement between firms to come together in order to achieve a joint goal.

A consolidation can occur between firms as a result of the takeover.

Proxy contest is a contest for the ownership of a firm

5 0
3 years ago
Other questions:
  • An important difference between accounting and other 4 functions, such as marketing and management, is that
    5·1 answer
  • A(n) _____________ is a spending plan that allows you to estimate how much money you will need for expenses during a specific pe
    13·1 answer
  • Coffee Klatch Party Group, a political organization, files a claim to challenge a Delaware statute that limits the liberty of al
    11·1 answer
  • Bernie's firm has set corporate direction to become one of the leaders in each of its significant market segments. It was Bernie
    12·1 answer
  • The CEO of Otis Elevators says they measure elevator populations in countries as units installed per thousand people. According
    10·1 answer
  • A construction firm cannot obtain the necessary permits to begin building a shopping mall until it can show it either has or wil
    8·1 answer
  • Complete the Transaction Worksheet: On the form provided, identify the accounts affected by each transaction and the amount of i
    10·1 answer
  • Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda's Bagel Café in exchange for her payment of a debt t
    12·1 answer
  • You were hired as a consultant to the ABC Company, whose target capital structure is 35% debt, 10% preferred, and 55% common equ
    15·1 answer
  • Q1: In about 200 words, write an essay analyzing the below case study using the SWOT framework.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!