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8090 [49]
3 years ago
11

To supplement her income, Jeanne Lester decided to start her own bookkeeping business while still working as an office assistant

at Howe & Lyon, a small CPA firm. Not having much start-up capital for her new business, she used her phone at work to contact clients and her work computer to print invoices and client letters. However, she ordered and paid for her own office supplies and used her own postage stamps to mail the invoices and letters. From the information given, has Jeanne misappropriated any of the firm's assets? Yes No
Business
1 answer:
Triss [41]3 years ago
7 0

Answer:

Yes  

Explanation:

Misappropriation of assets includes actions like stealing a company's assets or borrowing them for personal use. In this case, Jeanne didn't steal any of the company's assets and even paid for her office supplies, but she is borrowing the company's phone, computer and printer. In a strict manner, we can say that she misappropriated the assets even though they were not harmed and remain completely operational.  

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Refer to the following table to answer the following questions:
sineoko [7]

Answer:

Following are the answer to this question:

In question first, the answer is "Option d".

In question second, the answer is "Option e".

In question third, the answer is "Option e".

In question fourth, the answer is "Option e ".

In question fifth, the answer is "Option b".

Explanation:

Given values:

Checkable \ deposits =  \$ 400,000,000\\Currency = \$ 340,000,000\\Traveler's \ checks = \$ 4,000,000\\Money \ market \ mutual \ funds = \$ 50,000,000\\Small \ time \ deposits = \$ 6,000,000\\Savings \ deposits = \$ 850,000,000\\

Solution:

  • \text{M1= currency +checkable deposits + travellers check}

    = $400000000+$340000000+$4000000

    = $744000000

\bold{\text{M2 = M1 +money market mutual funds + small time deposit+ saving deposit}}

      =  $744000000 + $50000000+$6000000+$850000000

       = $1,650,000,000

  • Saving account deposits, which means its amount of money increased throughout the M2 portion regular savings account. So M2 will grow  
  • Its increase in the number of employees may not impact the balance sheet with banks, because each bank maintains its entire cash flow
  • For banks, loans are investments if they're lending money as a bank to people. So, it's on income statement asset side
3 0
3 years ago
The unrecognized net gain or loss balance must be amortized when it exceeds 10% of the larger of the: beginning accumulated bene
Schach [20]

Answer:

beginning projected benefit obligation or the market-related asset value

Explanation:

The balance of the Unrecognized Net Gain or Loss account subject to amortization only if it exceeds 10% of the larger of the beginning balances of the projected benefit obligation or the market-related value of the plan assets.

Amortization is simply the procedure or the process of retiring a debt or recovering a capital investment. This can be done via scheduled, systematic repayment of the principal or a program of periodic contributions to a sinking fund or debt retirement fund.

4 0
3 years ago
"Prepare the issuer's journal entry for each of the following separate transactions.
Charra [1.4K]

Answer:

Dr cash        $303,500

Cr common stock                                      $133,500

Cr paid in capital in excess of par value $170,000

Second issue of shares:

Dr cash       $74,000

Cr common stock  $74,000

Explanation:

The cash received from the issuance of 44,500 at $3 par value is $303,500 which is to debited to cash and credited to common stock for$133,500 ($3*44,500) while the balance of $170,000  ($303,500-$133,500) is credited to paid in capital in excess par value account.

On the issuance of no par value common stock for cash of $74,000,the cash account is debited as usual with $74,000 while the common stock account is credited with same amount.

3 0
3 years ago
Baruk Industries has no cash and a debt obligation of $36 million that is now due. The market value of​ Baruk's assets is $ 81$8
Gre4nikov [31]

Answer and Explanation:

The given values are:

Debt obligation

= $36 million

Market value

= $81 ​million

Outstanding shares

= $10 million

(a)...

Net Assets of the firm will be:

= 81 - 36

= $45 \ million

Now, the current share price will be:

= \frac{45}{10} = $4.5 \ per \ share

(b)...

Number of shares to be issued to repay debt obligation will be:

= \frac{36}{4.5} = $8 \ million \ shares

(c)...

The total number of outstanding shares will be:

= 10+8

= $18 \ million

Now,

The Current share price will be:

= \frac{Net \ assets \ of \ the \ firm}{Total \ no \ of \ outstanding \ shares}

= \frac{81}{18}

= $4.5 \ per \ share

8 0
3 years ago
A​ company's production department was experiencing a high defect rate on the assembly​ line, which was slowing down production
gayaneshka [121]

Answer:

D

Explanation:

Because the higher the quality of materials the more efficient the product will be

7 0
3 years ago
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