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3 years ago

The purpose of the abstract of title is to :

1 answer:

3 0

The correct answer to the question stated above is obviously letter C. verify that the person selling the property is really the owner. 

The sole and the very purpose of the abstract of title is to : verify that the person selling the property is really the owner.

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If a good is normal, then an increase in income will result in a(n) a. increase in the demand for the good. b. decrease in the d

andrew11 [14]

Answer:

a. increase in the demand for the good.

Explanation:

As we know that

In the case of normal goods, there is a positive relationship between the income and the quantity demand. If the income rises, the quantity demand is also rising and vice versa

But in the case of inferior goods, it shows an inverse relationship between the income and the quantity demand. If the income rises, the quantity demand is falling and vice versa

8 0

3 years ago

Cheyenne Corp. had the following transactions during the current period.

Soloha48 [4]

Answer:

Mar. 2 Issued 4,000 shares of $4 par value common stock to attorneys in payment of a bill for $21,200 for services performed in helping the company to incorporate.

Dr Incorporation expenses 21,200

Cr Common stock 16,000

Cr Additional paid in capital - common stocks 5,200

June 12 Issued 56,400 shares of $4 par value common stock for cash of $305,500.

Dr Cash 305,500

Cr Common stocks 225,600

Cr Additional paid in capital - common stocks 79,900

July 11 Issued 1,950 shares of $100 par value preferred stock for cash at $130 per share.

Dr Cash 253,500

Cr Preferred stocks 195,000

Cr Additional paid in capital - preferred stocks 58,500

Nov. 28 Purchased 2,560 shares of treasury stock for $78,500.

Dr Treasury stocks 78,500

Cr Cash 78,500

Treasury stocks account is a contra equity account which decreases the value of stockholders' equity.

8 0

3 years ago

Almost all union members pay dues. A union member has $5.50 deducted from his paycheck each week for union dues, and has done so

Bumek [7]

The union worker gained $1,140

6 0

3 years ago

Gale Corporation manufactures windsocks. The business recently decided to adopt an ABC system. The following activities have bee

solniwko [45]

Answer:

$270,000

Explanation:

The first step is to calculate the overhead cost of the material handling parts

Since each wind stock require 3 parts then the overhead cost can be calculated as follows

= 3 × 20,000

= 60,000

The overhead cost of machining hours can be calculated as follows

Since 5 minutes is spent in the machining department then overhead cost is

= 5× 20,000

= 100,000

The overhead cost of packaging number of finished units can be calculated as follows

= 2 × 20,000

= 40,000

Total overhead cost= 100,000 + 60,000 + 40,000

= 200,000

The total cost of direct materials and labor can be calculated as follows

= 3.5 × 20,000

= 70,000

Therefore the total cost of producing 20,000 windstocks is

= Total overhead cost + total cost of direct materials and labor

= 200,000 + 70,000

= $270,000

Hence the total cost of producing 20,000 windstocks is $270,000

5 0

3 years ago

A small foundry agrees to pay $220,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to

MaRussiya [10]

Answer:

A) $24,602

Explanation:

We can solve this question by finding the periodic deposits needed by using the formula:

$FV=PMT*\frac{(1+i)^n-1}{i}$

where:

FV= future value = $220,000

PMT = periodic deposits required = ???

i = effective interest rate per period = 0.0331

n= number of deposits = 8

However, since the interest is compounded monthly, let's also calculate the effective interest rate

Effective interest rate = $(1+\frac{r}{m}) ^m-1$

where; r = 12.5% = 0.125

$(1+\frac{0.125}{12})^{12} -1$

= 0.1324

Interest rate per period = $\frac{0.1324}{4}$

= 0.0331

Then;

$220,000=PMT*\frac{(1+0.033)^8-1}{0.033}$

220,000 = PMT × 8.986

PMT = $\frac{220,000}{8.986}$

PMT = $ 24,482.5

Since A) $24,602 is closer to $ 24,482.5

Therefore, $ $24,602 must be deposited every three months

3 0

3 years ago