Answer:
Steelers Inc.
a) Journal entries:
Sept. 12
Debit Available for Sale Investment $133,200
Credit Cash Account $133,200
To record investments in the common stock of Bengals Inc., 11,110 shares at $12 per share.
Dec. 31:
Debit Unrealized Loss on Available for Sale Investment $22,200
Credit Available for Sale Investment $22,200
To record the fair value of the investment.
b) The unrealized gains and losses are included in other comprehensive income within the equity section of the balance sheet.
The loss will, therefore, be deducted from other comprehensive income.
Explanation:
Investments held for sale are accounted for at fair value. This implies that at the end of any accounting period, the fair value of the investments will be determined. This is usually the market value. Then, adjustments are made in the asset account according to the fair value. There will be recognized either unrealized gain or loss, which are taken to other comprehensive income in the balance sheet under the equity section.
Answer:
The correct answer is letter "D": rationalization.
Explanation:
Rationalization refers to the restructuring of a company in terms of changing its operational processes, strategy, or corporate size on an attempt of increasing its efficiency. That stage is reached by reducing costs and increasing profits. The introduction of a new product could push a firm to rationalize whether to expand or cut part of its operations.
Answer:
D) They create about 65% of new jobs each year and generate over 50% of the U.S. GDP.
Explanation:
Small businesses employ over 99 percent of all the private-sector employees in the US. In figures, they hire over 130 million people. Besides that, 60 to 80 percent of all new jobs created every year come from small businesses.
In revenue generation, Small business makes 54 percent of US sales. They contribute over six trillion-dollars to the economy or 50 percent of the country's GDP
Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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