All categories

3 years ago

How do owners of large estates spend their time answer key with work?

1 answer:

6 0

How they spend their time would depend on what is on the estate. If it was a farm, or ranch then they would probably be supervising the agricultural work being done on it or managing the cattle or sheep, say. If it was a resort, then they would be busy attending to the needs of their guests for food, accommodation and recreation.

You might be interested in

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows

IgorLugansk [536]

Answer:

$36,750

Explanation:

Calculation to estimate the ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method

LIFO retail method

($) Cost ($) Retail

Beginning inventory $33,210 $43,000

Add purchases $249,510 $470,000

Freight in $26,500 $0

Less: purchase returns ($6,300) ($22,000)

Purchase discount ($4,800) $0

Add net marks up $0 23,000

Less: net mark downs $0 ($22,000)

Goods available for sale (excluding beginning inventory) $264,910 $449,000

(298,120 -33,210=264,910)

(492,000-43,000=449,000)

Goods available for sale (Including beginning inventory) $298,120 $492,000

Cost to retail ratio 59%

[(264,910/449,000) *100]

Less: net sales

Sales $446,500 $0

Sales return $8,000 ($438,500)

($446,500-$438,500=$8,000)

Employee discount $0 ($4,500)

Estimated ending inventory at retail $0 $49,000

Estimated ending inventory at cost $36,750

[ 33,210 +(49,000 -43,000)*59%]

Therefore the Estimated ending inventory at cost is $36,750

7 0

3 years ago

A savings account is an example of a

Ratling [72]

Answer:

Money market accounts

Explanation:

Money market accounts. Certificates of deposit (CDs) Interest checking. Specialty accounts (student savings and goal-oriented accounts, for example)

7 0

3 years ago

a call option on Jupiter Motors stock with an exercise price of $75 and one-year expiration is selling at $4. A put option on Ju

bogdanovich [222]

Answer:

$75.01

Explanation:

Given:

Call price (C): $4
Put price (P): $2.5
risk-free rate (r): 2% = 0.02
Time: 1 year
Exercise price (K): $75

Let Share price: $S_{0}$

As per put-call party, we have the following equation:

C + K $e^{-rt}$ = P+ $S_{0}$

<=> $S_{0}$ = C + K $e^{-rt}$ - P

<=> $S_{0}$ = 4 + 75* $e^{-0.02*1}$ - 2.5

<=> $S_{0}$ = 1.5 + 73.51 = $75.01

So the the stock price is $75.01

6 0

4 years ago

(a) Echo Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery e

Ierofanga [76]

Answer:

(A)

accumualted depreication equipment 41,000 debit

equipment 41,000 credit

(B)

accumualted depreication equipment 37,200 debit

loss at disposal 3,800 debit

equipment 41,000 credit

Explanation:

to retire the equipment itt will write-off their equipment account

if the accumulated depreication matches the book value then there will be no loss at disposal while if lower a loss will be recognized.

(a) 41,000 book value - 41,000 depreciation = 0 no loss

(b) 41,000 - 37,200 = 3,800 loss at disposal

8 0

3 years ago

A company paid jen rogers, its sole stockholder, a total of $22,000 in dividends during the current year. the entry needed to cl

Natasha_Volkova [10]

Answer:

Retained earnings......................Dr $22,000

Dividend expense $22,000

Explanation:

There are two accounts, temporary and permanent accounts. Temporary accounts such as dividends and revenue need to be closed and charged against permanent accounts at the end of reporting period. This is done to estimate the total earnings of the firm during the period.

Dividends are charged to permanent account, retained earnings. Following is the closing entry:

Particulars Debit Credit

Retained earnings $22,000

Dividend expense $22,000

(Dividends expenses closed

by charging to retained earnings)

8 0

3 years ago