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gogolik [260]
3 years ago
5

Terminology.In the space provided, write the word or phrase that is defined or indicated.

Business
1 answer:
Tanya [424]3 years ago
7 0

Answer:

1. Earnings per share.

2. Comprehensive income.

3. Prior period adjustment.

4. Non-controlling interest.

5. Discontinued operations.

6. Intra-period tax allocation.

7. Current liabilities.

8. Balance sheet.

9. Contingencies.

10. Liabilities.

11. Current assets.

12. Property, plant and equipment.

13. Intangible assets.

14. Assets.

15. Equity.

Explanation:

1. Net income minus preferred dividends divided by the weighted average of shares outstanding: Earnings per share.

2. All changes in equity during a period except those resulting from investments by owners and distributions to owners: Comprehensive income.

3. A correction of an error is reported as a: Prior period adjustment.

4. The portion of equity interest in a subsidiary not attributable to the parent company: Non-controlling interest.

5. The income statement category for a disposal of a component of a business: Discontinued operations.

6. Relating tax expense to specific items on the income statement: Intra-period tax allocation.

7. Obligations expected to be liquidated through use of current assets: Current liabilities.

8. Statement showing financial condition at a point in time: Balance sheet.

9. Events that depend upon future outcomes: Contingencies.

10. Probable future sacrifices of economic benefits: Liabilities.

11. Resources expected to be converted to cash in one year or the operating cycle, whichever is longer: Current assets.

12. Resources of a durable nature used in operations: Property, plant and equipment.

13. Economic rights or competitive advantages which lack physical substance: Intangible assets.

14. Probable future economic benefits: Assets.

15. Residual interest in the net assets of an entity: Equity.

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Sarah meeham blends coffee for​ tasti-delight. She needs to prepare 160160 pounds of blended coffee beans selling for ​$4.834.83
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If a firm has retained earnings of $2.7 million, a common shares account of $4.7 million, and additional paid-in capital of $9.4
kodGreya [7K]

Answer:

Change in retained earnings = $1.02 million (Decrease)

Change in common shares account = $5.17 million (Increase)

Change in additional paid-in capital = $10.61 million (Increase)

Explanation:

Given:

Retained earnings = $2.7 million

Common shares account = $4.7 million

Additional paid-in capital = $9.4 million

Stock dividend = 10%

Find:

Changes in account.

Computation:

1. Change in retained earnings

Change in retained earnings = Retained earnings - (Retained earnings - Common shares account - Additional paid-in capital)Stock dividend

Change in retained earnings = $2.7 million - ($2.7 million - $4.7 million - $9.4 million)10%

Change in retained earnings = $2.7 million - 1.68 million

Change in retained earnings = $1.02 million (Decrease)

2. Change in common shares account

Change in common shares account = Common shares account (1+Stock dividend)

Change in common shares account = $4.7 million (1+10%)

Change in common shares account = $5.17 million (Increase)

3. Change in additional paid-in capital

Change in additional paid-in capital = Additional paid-in capital + (Additional paid-in capital + Retained earnings)Stock dividend

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3 0
3 years ago
A coupon bond that pays semiannual interest is reported in the Wall Street Journal as having an ask price of 116% of its $1,000
Anna35 [415]

Answer:

$1,174.75

Explanation:

The computation of the invoice price of the bond is shown below:

As we know that

Invoice Price of Bond = Ask Price of Bond + Accrued interest

where,

Ask Price is

= $1,000 × 116%

= $1,160

Interest accrued for 3 months is

= $1,000 × 5.90% × 3 months ÷ 12 months

= $14.75

So,

Invoice Price of Bond is

= $1,160.00 + $14.75

= $1,174.75

3 0
3 years ago
On December 31, 2021, when its Allowance for Doubtful Accounts had a debit balance of $1,458, Whispering Winds Corp. estimates t
astraxan [27]

Explanation:

1. Bad Debt Expense A/c Dr,                  $11,278

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(Being uncollectible and wrote off is recorded)

3. Accounts Receivable A/c Dr,                  $1,283  

       To Allowance for Accounts receivable   $1,283

(Being written off is recorded)

4. Cash A/c Dr,                                          $1,283  

      To Accounts Receivable                   $1,283

(Being cash is recorded)

7 0
3 years ago
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