Answer:
The amount of rent expense that will be reported on the Year 1 income statement is $1,800
.
The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $5,400.
Explanation:
Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.
The duration of the payment is 12 months, hence
Monthly amortization = $7,200/12 = $600
Rent expense for year 1 = $600 × 3 = $1,800
The ending balance in the prepaid rent account will be
= $7,200 - $1,800
= $5,400
This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.
Answer: True
Explanation: Blockbusting refers to the techniques used by the real agents in America. In general the agents and the builders use this for white house owners. The agents while using this, tries the owners that the racial communities are moving to the neighborhood and it would not be safe for them.
In simple words, they use the perception of racism so that they can get the property at relatively cheaper prices.
Thus, from the above we can conclude that the given statement is true.
To solve for the semimonthly payments on Max's insurance cost:
Annual insurance rate: $11,700
Employer pays 60%
What is Max's amount to pay?
(11,700)(.60) = $7,020
Max's employer pays $7,020
Max pays $4,680 (11,700-7,020)
If Max pay's $4,680 a year and we want to know but he pays semimonthly, or twice a month then we need to divide his annual payment by 24 since there are 12 months and he pays twice a month.
($4,680/24)= $195
Max pays $195 semimonthly for his insurance.
Freedom of ownership is part of the government and the public sector business environment.
<u>Explanation:</u>
Freedom of ownership or a sharing vision offers a number of opportunities in the business environment. It allows the government to control the costs, generate the economies of scale and bargain costs down internally.
The freedom of ownership permits access to complex, specialized skills that can not be sourced locally. So this allows the government sector or the public sector environment to run the business successfully and to run it efficiently.
Answer and Explanation:
The preparation of the stockholder equity section is presented below:
Tandy Company
Balance Sheet (Partial)
Stockholders Equity :
Contributed Capital :
Common stock (21,900 shares × $6) $131,400
Preferred stock (5,000 shares × $13) $65,000
Additional Paid in Capital - Common stock (21,900 shares × $20) $438,000
Additional Paid in Capital - Preferred stock (5,000 shares × $17) $85,000
Total Contributed Capital $719,400
Add: Retained Earnings $41,600
Total Stockholders Equity $761,000
