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3 years ago

whether investments are reported as current assets or noncurrent assets depends on the company's intent. (points : 5) true false

1 answer:

3 0

False . It depends upon the object itself.
Assume this senario ( It's hypothetical)
If company X purchases a land (A land is a non current asset). If the company decided to fill the whole land with cash( which is a current asset) . The land doesn't automatically turn into a current assets.

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During the fiscal year ended June 30, 20X9, the city of Moorhead constructed a new courthouse that was budgeted to cost $5,000,0

svetoff [14.1K]

Answer:

The correct answer to the following question is option A) $490,000.

Explanation:

In 20X9, June 30 , the city of Moorhead went on to construct a new courthouse whose total budgeted cost was $500,000.

And in July 20X8, the project was given to Diamond construction to build the courthouse for $480,000. And on June 20X9, Diamond completed the courthouse and gave city of Moorhead a bill of $490,000, which they accepted and paid. So the city of moorhead should report their expenses as $490,000 on the statement of revenues, expenditures and fund balance.

5 0

3 years ago

Mary makes monthly deposits of $450 at the end of each month over 25 consecutive years to support her retirement. If the account

Arte-miy333 [17]

Answer:

d. $394,767

Explanation:

For computing the amount of deposit at the end we need to apply the future value formula i.e to be shown in the attachment

Given that,

Present value = $0

Rate of interest = 7.5% ÷ 12 months = 0.625%

NPER = 25 years × 12 months = 300 months

PMT = $450

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $394,767

8 0

3 years ago

Preparing information to be communicated to others is called

gizmo_the_mogwai [7]

<span>POLL QUESTION
</span>Step 1Ask your audience a question with the Poll Everywhere app
Step 2Audience answers in real time using mobile phones or web browsers
Step 3See your response live on the web or in a PowerPoint presentation

8 0

3 years ago

Which of the following behavior patterns may be a characteristic of minors

Schach [20]

Answer:

Self conscious about appearance

Explanation:

A minor is a usually adopted as term used to make distinction between an adult who can take up legal responsibilities and a child who legally below the specified age of the majority or adulthood. Distinction between minors and adulthood is usually based on the age of the individual. Person below the age of 18 in most countries are considered as minor. They possess certain characteristics which may include excessive consciousness about looks and trying to avoid eyes contact as much as possible.

7 0

3 years ago

Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.5%, compounded monthly. The loan (principal plus interest) m

Mandarinka [93]

Answer:

0.03%

Explanation:

Southwestern Bank

The Effective annual interest rate of Southwestern bank compounded monthly would be

First step

Calculation for the Effective annual rate of Riverside Bank:

rR = (1 + (0.065/12))^12 = 1.067

Second step

Calculation for the Effective annual rate of Midwest Bank:

rM = (1 + (0.07/1))^1 = 1.07

The effective annual rate of Midwest Bank is higher by :

(1.07 -1.067)

=0.003 % or 0.3%

Therefore the higher or lower is the effective annual rate charged by Woodburn versus the rate charged by Southwestern would be 0.03%

7 0

3 years ago