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3 years ago

9

A country's balance of payments is a better measure of global business than the balance of trade because it includes more exchan

ges with foreign sources.
True
False

1 answer:

velikii [3]3 years ago

3 0

False that my answer

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Equity Method for Stock Investment On January 4, Year 1, Ferguson Company purchased 108,000 shares of Silva Company directly fro

r-ruslan [8.4K]

Answer:

a)

January 4, year 1, investment in Silva Company (36% of outstanding stocks)

Dr Investment in Silva Company 5,184,000

Cr Cash 5,184,000

July 2, year 1, distributed dividends ( $292,000 x 36%)

Dr Cash 104,400

Cr Investment in Silva Company 104,400

December 31, year 1, net income reported by Silva Company ($971,000 x 36%)

Dr Investment in Silva Company 349,560

Cr Revenue from investment in Silva Company 349,560

b)

Balance of Investment in Silva Company = $5,184,000 - $104,400 + $349,560 = $5,429,160

Explanation:

Since Ferguson exercises significant influence over Silva Company, they must record the investment using the equity method.

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3 years ago

Generally, an income amount that relates to a future period and therefore can be set aside and included in income for that perio

Ket [755]

The term that is referred by the description above is RESERVES. The reserve is the amount that is being kept for future periods. This amount is separated to the current period's income, but is part of the next period if this is applicable. The answer is D.

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3 years ago

On April 1, 2017, Planet Services received $8,000 in advance of performing the services from a customer for three months of se

mestny [16]

Answer:

The correct answer is B

Explanation:

The journal entry which is to be recorded for the service revenue at the end of May is as follows:

Unearned Revenue A/c..............Dr $5,333

Service RevenueA/c...........Cr $5,333.

Working Note:

Revenue = Total amount × Number of months / Total months

where

Amount is $8,000

Number of months means at the end of May which is a 2nd month

Total months is 3 months (April, May and June)

= $8,000 × 2 / 3

= $5,333

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3 years ago

Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) N

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Answer:

Note Contract Date Principal Interest Rate Period of Note (Term)

1 March 7 $12,000 5 % 60 days

2. May 21 $18,000 7% 90 days

3. October 26 $ 14,000 4% 45 days

1. Maturity date = 6 May

Interest expenses = $12,000*5%*60/360

Interest expenses = $100

2. Maturity date = 19 August

Interest expenses = $18,000*7%*90/360

Interest expenses = $315

3. Maturity date = 10 December

Interest expenses = $14,000*4%*45/360

Interest expenses = $70

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Each year 50 randomly selected haque & slash hair styling franchises are surveyed to determine: (1) the average annual earni

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3 years ago