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3 years ago

Which type of report usually lists just transactions?

1 answer:

Crank3 years ago

3 0

<span>A detailed report is a report that usually lists only transactions. From the name itself, detailed report gives you very detailed information regarding the value of time spent by every member in a certain tasks within a given projects. It also displays table with data categorizes by users, tasks, and projects, billable time and amount.</span>

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Assume that ABCO is a U.S. multinational corporation. Its foreign subsidiaries must report income in their respective countries

Marina CMI [18]

Answer: c

Explanation:

3 0

2 years ago

Northern purchased the entire business of Southern including all its assets and liabilities for $2,400,000 on December 31, 2021.

stich3 [128]

Answer:

$400,000

Explanation:

The computation of goodwill is shown below:-

Fair value of assets = $3,200,000

Fair value of liabilities = $1,200,000

Cash paid for southern = $2,400,000

Acquired Net assets = $2,000,000

Net assets acquired = Fair value of assets - Fair value of liabilities

= $3,200,000 - $1,200,000

= $2,000,000

Goodwill acquired = Cash paid for southern - Acquired Net assets

= $2,400,000 - $2,000,000

= $400,000

5 0

3 years ago

Bryson Corporation purchased a limited-life intangible asset for $1,162,500 on May 1, 2018. It has a remaining useful life of 15

Nastasia [14]

Answer:

$206,667

Explanation:

Calculation for What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020

Using this formula

Total Amortization expense=Cost/useful life*Number of months

Let plug in the formula

Total Amortization expense=$1,162,500/180*32

Total Amortization expense=$206,667

Note that 15 years*12months will give us 180 months which is the useful life while May 1, 2018 - December 31, 2020) will give us 32 months

Therefore the total amount of amortization expense should have been recorded on the intangible asset by December 31, 2020 will be $206,667

5 0

2 years ago

Josh purchased 100 shares of XOM for $76.63 per share at the beginning of 2007. He received dividends per share of $1.37 (2007),

never [62]

Answer:

The IRR is 4.08%

Explanation:

In calculating the internal rate of return in excel,the cash outflow of $76.63 is shown in year 0 with a negative sign to indicate that it is the initial investment on the share, followed by dividends in received in later years shown as positive figures ,however in the fifth the dividend received and the cash received from disposing of the share were added together to show total cash inflow in the last year.

The computation of IRR is shown below

IRR for the share purchase

Years Cash flow

0 -76.63

1 1.37

2 1.55

3 1.66

4 1.74

5 86.61

IRR 4.08%

Find attached for detailed computation.

Download xlsx

4 0

3 years ago

Goods X and Y are perfect substitutes. When the market price of good X is $5/unit, firm F produces 500 units of X. When the pri

goldenfox [79]

Answer:

According to this situation, we assume that firm F is the only producer of product X.

Explanation:

A perfect replacement is a condition in which two items are considered equal. Great replacements are goods and you can't build a brand whereby consumers like the commodity.

Except for a market price, optimal substitution suppliers must have no impact on the quality.

Therefore, in this situation product Y's price rises, so people shift for product X.

In results, firm F had to increase his supply which shows that firm F is the only producer of product X in the industry.

3 0

3 years ago