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Effectus [21]
3 years ago
13

As a long-term investment at the beginning of the 2018 fiscal year, Florists International purchased 30% of Nursery Supplies Inc

.'s 8 million shares for $56 million. The fair value and book value of the shares were the same at that time. During the year, Nursery Supplies earned net income of $40 million and distributed cash dividends of $1.25 per share. At the end of the year, the fair value of the shares is $52 million.
Required:

Prepare the appropriate journal entries from the purchase through the end of the year.

Business
1 answer:
Luba_88 [7]3 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Which provision prevents an insurer from changing the terms of the contract with the policyowner by referring to documents not f
a_sh-v [17]

Answer:

The correct answer is letter "C": Entire Contract.

Explanation:

The entire contract is the clause in an insurance contract that establishes that both the insured and the insurer are bound by the terms and conditions stipulated in the contract. In other words, only what is stated in the contract are the benefits and obligations of both parties and nothing else outside of it.

6 0
3 years ago
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Marwick Corporation issues 8%, 5-year bonds with a par value of $1,100,000 and semiannual interest payments. On the issue date,
Nina [5.8K]

Answer: $1,193,838.80

Explanation:

The price of a bond is the sum of the present value of the coupon payments and the face value at maturity.

= Present value of coupon payments + Present value of face value at maturity

First adjust the variables for semi-annual:

Number of periods = 5 * 2 = 10 semi annual periods

Coupon payment = 8% * 1,100,000 * 1/2 years = $44,000

Yield = 6% / 2 = 3%

Present value of coupon payments:

The coupon payments are constant so are an annuity:

= Annuity * Present value of an annuity factor, 10 periods, 3%

= 44,000 * 8.5302

= $375,328.80

Present value of face value

= 1,100,000 * Present value of 1, 3%, 10 periods

= 1,100,000 * 0.7441

= $818,510

Selling price:

= 375,328.80 + 818,510

= $1,193,838.80

8 0
3 years ago
The owner of Second Avenue wants to establish a community clothing drive to collect clothes for a local children's shelter. The
Aleks [24]

Answer: A. Public affairs

Explanation: Public affairs have developed over time and is consider a sub discipline or branch of public relation (PR). It is the building of relationship and development between an organization and government, politician and other decision makers.

The owner of second avenue setting up a community clothing drive to collects for local children's shelter, his using "public affairs " tools a branch of public relationship.

8 0
3 years ago
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Goal B, goal C, goal D, and goal E are on a timeline from left to right, in that order. Which goal is to be accomplished first?
AlexFokin [52]

Answer: A. Goal B

Explanation: Goal B is to be accomplished first. This is because on a timeline, the events closest to the present are on the left, and the events that happen far in the future are on the right.

5 0
3 years ago
An organization with high fixed costs (relative to variable costs) will suffer a greater decrease in profit as volume declines t
garri49 [273]

Answer:

True

Explanation:

Fixed cost is the cost which cannot be avoided and is not dependent on level of activity thus, if there is high fixed cost than variable cost, in that case with decrease in level of output the loss will rise rapidly.

Where variable cost is more than fixed cost, then the cost will only increase or incur when there is production accordingly in case of low sale or low production the loss will also be less, as accordingly cost will be less.

Therefore, the statement in question is TRUE

3 0
3 years ago
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