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Nikolay [14]
3 years ago
5

Lee, Inc. acquired 30% of Polk Corp.'s voting stock on January 1, Year 1 for $100,000. During Year 1, Polk earned $40,000 and pa

id dividends of $25,000. Lee's 30% interest in Polk gives Lee the ability to exercise significant influence over Polk's operating and financial policies. During Year 2, Polk earned $50,000 and paid dividends of $15,000 on April 1 and $15,000 on October 1. On July 1, Year 2, Lee sold half of its stock in Polk for $66,000 cash. Before income taxes, what amount should Lee include in its Year 1 Income Statement as a result of the investment?
Business
1 answer:
KiRa [710]3 years ago
5 0

Answer:

$7,500

Explanation:

Lee, Inc. acquired 30% of Polk Corp.'s voting stock on January 1, Year 1 for $100,000.

During Year 1, Polk earned $40,000 and paid dividends of $25,000.

Therefore Lee's dividend income = 0.3 x 25,000 = $7,500

Before income taxes, the amount that Lee should include in its Year 1 Income Statement as a result of the investment will be the dividend earned in year 1 which is $7,500

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You’ve decided to buy a house that is valued at $1 million. You have $250,000 to use as a down payment on the house, and want
LuckyWell [14K]

Answer: $6581.58

Explanation:

Based on the information given in the question, the mortgage payment per month will be calculated thus:

= [P x I x (1+I)^N]/[(1+I)^N-1]

where,

P = Principal = $750000

I = Interest rate per month = 10%/12 = 0.10/12 = 0.008333

N = number of installments = 30 × 12 = 360

Then, the equated monthly installment will be:

= [750000 × 0.008333 × 1.008333^360] / [1.008333^360-1]

= [750000 × 0.008333 × 19.8350386989] / [19.8350386989 - 1]

= 123964/18.835

= 6581.58

Under this loan proposal, your mortgage payment will be $6581.58 per month.

4 0
2 years ago
Canon was able to redesign the copying machine so that it didn't need professional service—reliability was built directly into t
Studentka2010 [4]

Answer:

architectural innovation

Explanation:

The scenario is describing the term known as architectural innovation. This refers to the innovation of the specific architecture of any product that changes and/or modifies the way the different components of the machine link or relate to each other, thus allowing it to perform new functions or the same functions but in a much more user-friendly manner. This is what Canon did by changing the architecture of the copying machine so that it was more user-friendly for the end consumer.

5 0
3 years ago
"Which indicator is the best for determining whether a client with Addison's disease is receiving the correct amount of glucocor
oksano4ka [1.4K]

Answer:

The correct answer is Daily weight.

Explanation:

Changes in weight can occur quickly. The treatments and medicines  used to fight the disease can affect the weight in a very short time.

Knowing the weight helps staff members make the safest and most effective choices.

• Doctors and pharmacists use weight to help decide the amount of medicine

That needs to be ordered.

• Nurses and doctors use daily weight to decide if it is necessary to increase or decrease fluids either by mouth or by vein.

Staff will monitor the weight before most clinic visits and at any time when they are admitted. Doctors and other staff members often decide the dose of medicines and the amount of serum needed early in the morning.

3 0
3 years ago
Sort each description into the category where it fits best. Inflation and Deflation
Pie
First three together in the first I think
4 0
3 years ago
Read 2 more answers
Novak Corp. had accounts receivable of $140,000 on January 1, 2022. The only transactions that affected accounts receivable duri
algol13

Answer:

a. $210,000

b. 21.69 times

c. 16.83 average days to collect receivables

Explanation:

a. Ending balance of accounts receivable

= Beginning account receivable + Net credit sales - Cash collections

= $140,000 + $3,795,000 - $3,725,000

= $210,000

b. Account receivable turnover

= Net credit sales ÷ [(Beginning inventory + Ending inventory)/2]

= $3,795,000÷ [($140,000 + $210,000)/2]

= $3,795,000 ÷ $175,000

= 21.69 times

c. Average collection period in days

= Average account receivable ÷ [ Annual sales ÷ 365]

= $175,000 ÷ [$3,795,000 ÷ 365]

= $175,000 ÷ $10,397

= 16.83 average days to collect receivables

5 0
3 years ago
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