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2 years ago

Georg, a german citizen, just purchased 10 shares of stock in microsoft, a u.s. company. this purchase is an example of

Business

1 answer:

emmasim [6.3K]2 years ago

5 0

Foreign portfolio investment, which is simple people in one country investing in the assets of another country.

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Lake Co. receives nonrefundable advance payments with special orders for containers constructed to customer specifications. Rela

klasskru [66]

Solution :

We calculate the advances form the customer to be reported as the current liability as on Dec. 31, 2009 in the balance sheet as follows :

Particulars Amount ($)

Customer advances the balance Dec 31, 2008 110

Add : advances that is received with 2009 orders is 195

Less : advances applicable to the orders in 2009 -180

Less : advances from orders that are canceled in 2009 -45

Advances from the customers liability Dec. 31, 2009 80

Therefore, the advance from the customer to be reported in the balance sheet as the current liability is $80.

6 0

2 years ago

Heritage, Inc., had a cost of goods sold of $44,621. At the end of the year, the accounts payable balance was $8,403. How long o

Fiesta28 [93]

Answer:

Days sales in payable = 68.74 days(Approx)

Explanation:

Given:

Cost of goods sold = $44,621

Accounts payable = $8,403

Days sales in payable = ?

Computation of Days sales in payable :

$Days\ sales\ in\ payables=(Accounts\ payable\/cost\ of\ goods\ sold)\times365\ days$

Days sales in payable = ($8,403 / $44,621) × 365 days

Days sales in payable = 0.188319401 × 365 days

Days sales in payable = 68.7365814

Days sales in payable = 68.74 days(Approx)

7 0

2 years ago

"on may 1, mesa verde, inc. purchased a 2-year insurance policy for $15,600. prepaid insurance was debited for the entire amount

N76 [4]

The journal entry on May 1 was:

A debit to Prepaid Insurance for 15,600

And a credit to cash for 15,600

Prepaid Insurance is the share of an insurance premium that has been paid in early and has not finished as of the balance sheet date.

The monthly insurance payment for two years is computed by 15,600/24 months which is $650 per month.

At December 31 the adjusting entry would be:

A debit to Insurance Expense 5,200

And a credit to Prepaid Insurance for 5,200

5,200 is computed by:

650 x 8 months (starting from May 1 to December 31) = 5,200

5 0

2 years ago

At the beginning of the year, Glaser Company estimated the following: Assembly Department Testing Department Total Overhead $702

Arte-miy333 [17]

Answer:

Assebly rate: $ 9.12 per labor hour

Testing rate: $11.43 per machine hour

Explanation:

Assembly Department Testing Department Total

$702,000 $786,240 $1,488,240

Direct labor hours 77,000 95,480 172,480

Machine hours 95,500 68,760 164,260

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

Assembly rate:

702,000 / 77,000 = 9,11688

Testing rate

786,240 / 68,760 = 11,4347

4 0

2 years ago

Mateo exchanges a rental house at the beach with an adjusted basis of $225,000 and a fair market value of $200,000 for a rental

FromTheMoon [43]

Answer:

a.$0

Explanation:

Adjusted basis is the cost of a property and other related costs incurred in acquiring, maintaining, or upgrading the property.

Fair value represent the worth of a property. It is the amount that one should expect to fetch from the market if they were to sell the property.

The fair value or the worth for Mateo's rental house is $200,000. He obtains another rental house with a fair value of $180,000 and cash $20,000.

He exchanged property worth $200,000 for $200,000

7 0

2 years ago