Answer:
An correct statement was prepared for a comprehensive income which is given below.
Explanation:
Solution
Given that:
Cheyenne Corporation
Correct Statement of Comprehensive/General Income
Income before income taxes $371,000
The less Tax ($371,000 * 35%) $129,850
The Net Income $241,150
Other Comprehensive income
Unrealized profit on present for
sales securities, net of tax $57,655
The comprehensive income
($241,150 +$57,655) $298,805
Note:
The Unrealized profit on present for sales securities, net of tax is given as
=($88,700 * (100% -35%))
=$88,700 * 65%
=$57,655
Answer:
A. Final sales price reduced by cost to complete after split-off.
Explanation:
Net realizable value (NRV) is explained here to be the value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with the eventual sale or disposal of the asset. It is a common method used to evaluate an asset's value for inventory accounting. NRV is a valuation method used in both Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).
Many business transactions allow for judgment or discretion when choosing an accounting method.
A conservative approach means that the accountant should use the accounting method that generates less profit and does not overstate the value of assets.
Answer:
market price = $1,104.20
Explanation:
yield to maturity of zero coupon bonds = (face value / market price)¹/ⁿ - 1
- YTM = 5.97%
- n = 19 x 2 = 38
- face value = $10,000
(face value / market price)¹/ⁿ = YTM + 1
face value / market price = (YTM + 1)ⁿ
market price = face value / (YTM + 1)ⁿ
market price = $10,000 / 1.0597³⁸ = $10,000 / 9.0563 = $1,104.20
A person who doesn't lock doors or fix leaks presents morale hazard.
<h3>What is morale hazard?</h3>
It refers to an unconscious attitude of an individual who is indifferent to the loss of their personal property that is covered by insurance, since the insurance could cover the damages that have occurred.
Therefore, morale hazard is the change in behavior that comes from the subconscious, generating indifference about the loss of goods because they are covered by insurance.
Find out more about morale hazard here:
brainly.com/question/15084670
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