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3 years ago

Beginning in the 1940s, first-generation computers used _____.

1 answer:

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<span>A trend that started to gain traction in the 1940s as a result of better technological innovation, was that of using vacuum tube technology in the manufacturing of the first generations of computers, due to the apparent efficiency of this innovation at the time.</span>

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Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on

lozanna [386]

Answer:

Turnover Company

The net income of Turnover will increase by $500,000.

Explanation:

a) Data and Calculations:

Turner Company's shareholding in ICA = 10%

ICA pays dividend totalling $5 million

Turner's share of dividend = $500,000 ($5 million * 10%)

b) This is not based on equity accounting. Instead, the investment will be reported at fair value. Equity accounting method will be applied in recording Turner's investments in ICA Company, if the ownership interest is valued at 20–50% of the stock.

c) The $500,000 dividends received from ICA Company will be reported in the Income Statement of Turner Company as other income, unless Turner ordinarily buys and sells stocks. The 10% shareholding does not amount to significant control or influence for the accounts of Turner and ICA to be consolidated.

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3 years ago

Stinehelfer Beet Processors, Inc., processes sugar beets in batches.

babunello [35]

Answer:

$19

Explanation:

The computation of the financial advantage or disadvantage is shown below:

= Sale value after processed further - cost of processed further - sale value without processed further

= $91 - $29 - $43

= $19

Simply we deducted the cost of processed further and the sale value without processed further from the Sale value after processed further so that the correct amount can come

All other information which is given is not relevant. Hence, ignored it

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4 years ago

_____, which are websites that provide virtual communities in which people with shared interests can communicate, are common sou

masha68 [24]

Answer:

B) Social networking sites

Explanation:

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3 years ago

Simmons, Inc. uses the lower-of-cost-or-market method to value its inventory that is accounted for using the LIFO method. Data

MA_775_DIABLO [31]

Answer:

The lower- of- market- or cost for the item is $21

Explanation:

In the lower of cost or market, the market begins at the replacement cost which is $20, which is then limited or restricted to a ceiling and a floor.

The ceiling is computed as:

Ceiling = Selling price - Completion cost

where

selling price is $30

Completion cost is $2

Putting the values above:

Ceiling = $30 - $2

Ceiling = $28

Computing the floor as:

Floor = Ceiling - Normal profit margin

Floor = $28 - $7

Floor = $21

As the market cannot be lower than the floor which is $21. Therefore, the lower of cost which is $26 and the market which is $21. But have to take lower. So, it is $21.

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3 years ago

A debtor owed a creditor $1,200 on a promissory note that was due on August 1. After the debtor told the creditor that he might

Ilya [14]

Answer:

The correct option is C. Yes, because the debtor incurred a different obligation than he already had.

Explanation:

Note: This question is not complete as the options are omitted. The question is therefore completed before answering the question by providing the options as follows:

A. No, because the debtor incurred no additional detriment that would serve as consideration for the new agreement.

B. Yes, because it would have cost the creditor $1,200 to purchase the entertainment system himself.

C. Yes, because the debtor incurred a different obligation than he already had.

D. Yes, because the new agreement between the debtor and the creditor is enforceable with or without

Explanation of the answer is now provided as follows.

It is possible to enforce the two parties' new agreement as an accord.

An accord can be described as an agreement in which one party to an existing contract agrees to accept some other, different performance from the other party in lieu of the performance that the other party is obligated to provide. In principle, an agreement must be backed by payment, but the consideration can be less than the amount agreed upon in the preceding contract if it is of a different character or the claim is to be paid to a third party. The responsibility of the debtor to supply the creditor with a new entertainment system was enough fresh consideration to constitute a legal agreement in this case.

When a party's responsibility is modified in some way, as the debtor's duty was in this case, the preceding legal duty rule does not apply. It makes no difference whether the creditor's benefit in the accord arrangement is equal to the original debt's worth; courts will find appropriate consideration if the consideration is fresh or different in any way. The difference in the debtor's obligation, that is, payment is in the form of an entertainment system rather than cash) is enough to sustain the accord arrangement, regardless of how much the entertainment system would have cost the creditor.

The Uniform Commercial Code (UCC) does not apply because the original agreement was not for the sale of goods. The underlying commitment in this case was to pay a debt secured by a promissory note.

Therefore, the correct option is C. Yes, because the debtor incurred a different obligation than he already had.

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3 years ago