Answer:
720 shares
Explanation:
Given that,
Derk owns = 250 shares of stock in Rose Corporation
750 shares of Rose are owned as follows:
Derk’s daughter owns = 150
Derk’s aunt = 200
Shares in the partnership holding:
= 400 shares × Interest
= 400 shares × 80%
= 320 shares
Therefore,
Number of shares Derk owns in Rose Corporation:
= Own shares + Daughter's shares + Shares in the partnership holding
= 250 + 150 + 320
= 720
Goodwell will recognize 3 months (Oct 1 - Dec 31) of rent revenue earned, and will reduce (debit) the unearned rent revenue for those 3 months.
2,500 x 3 months = 7,500
Journal Entry, Dec 31:
Unearned Rent Revenue: 7,500
Rent Revenue: 7,500
The new Unearned Rent Revenue Account balance will be:
12,500 - 7,500 = 5,000
Answer:
Price elasticity
Explanation:
Price elasticity -
It refers to the extent to which the demand or desire for something alters with the fluctuation in the price , is referred to as price elasticity .
As if the price of some commodity goes up , people tends to not buy the thing any more and tries to finds it cheaper alternative .
And , as the price reduces , people tries to buy the specific goods and service .
Hence , from the given scenario of the question ,
The correct answer is price elasticity .
Answer:
Explanation:
From the information povided:
(a) To compute the amount of goodwill paid by Chicago Corporation
Particulars Amount ($)
Accounts Receivable 100000
Inventory 170000
Plant & Equipment 400000
Land 90000
Customer List 4000
Trade Names <u> 16000</u>
NET ASSETS (A) <u>780000</u>
<u />
Current liabilities 76000
Non-current liabilities <u>160000 </u>
NET LIABILITIES (B) <u> 236000</u>
∴
PURCHASE CONSIDERATION (A -B) 544000
<u>Less:</u> Cash Paid <u> 580000</u>
GODWILL <u> 36000 </u>
<u />
b)
In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.
Account Name Dr. Cr.
Accounts Receivable A/C 100000
Inventory A/C 170000
Plant Equipment A/C 400000
Land A/C 90000
Customer List A/C 4000
Trade Names A/C 16000
Goodwill A/C 36000
Current liabilities A/C 76000
Non-Current Liabilities A/C 160000
Cash A/C 580000
c)
The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.
<u />
Saving means the amount of income that is not spent on a particular product.
The member of the store will save $5 if they return an item costing $240.
<h3>What is saving?</h3>
Saving is defined as the part of income not spent, or delayed consumption. Methods of saving, consider putting money set aside.
<u>Example:</u>
A deposit account, a pension account, an investment fund, or cash. Saving also refers to separating down expenditures, like recurring costs.
In the above situation, it is clearly mentioned that if any member would return the item which costs above $100, then he would save $5. So here the item which the member is returning is above $100 then, the member would save $5.
He would pay only $235 ($240-$5).
Therefore, the member will save $5, on returning the item.
To learn more about saving, refer to:
brainly.com/question/7965246
