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3 years ago

PLEASE HELP!!!

Business

2 answers:

Luden [163]3 years ago

5 0

building society --- is owned by its members and provides banking servic

trust company --- acts as a fiduciary and handles custodial asset arrangements

asset management firm --- invests people's funds in financial assets

stock brokerage firm --- trades securities and makes money from commissions

Snezhnost [94]3 years ago

3 0

Answer:

building society --- is owned by its members and provides banking servic

trust company --- acts as a fiduciary and handles custodial asset arrangements

asset management firm --- invests people's funds in financial assets

stock brokerage firm --- trades securities and makes money from commissions

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They assume that no one outside of their family would be interested in helping them

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4 years ago

Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company grante

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Answer:

1. $108 million fair value of award

2. December 31, 2021

($ in millions)

Dr Compensation expenses 54

Cr Paid-in capital—restricted stock 54

December 31, 2022

Dr Compensation expenses54

Cr Paid-in capital—restricted stock 54

Dr Paid-in capital—restricted stock 108

Cr Common stock 18

Cr Paid-in capital—excess of par (remainder) 90

Explanation:

Allied Paper Products, Inc

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= $108 million fair value of award

2. Journal entries

December 31, 2021

($ in millions)

Dr Compensation expense ($108 million ÷ 2 years) 54

Cr Paid-in capital—restricted stock 54

December 31, 2022

Dr Compensation expense ($108 million ÷ 2 years) 54

Cr Paid-in capital—restricted stock 54

Dr Paid-in capital—restricted stock 108

Cr Common stock (18 million shares x $1 par) 18

Cr Paid-in capital—excess of par (remainder) 90

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4 years ago

Parent Corporation purchased land from S1 Corporation for $220,000 on December 26, 20X8. This purchase followed a series of tran

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Answer:

$160,000

Explanation:

On February 15, 20X8, S3 Corporation purchased the land from a non affiliate for $160,000.

That was the last operation involving a third party.

<u>The rest of the operation should not recognize any income or loss.</u>

If not, a company can create artificial gains and losses by selling the asset at diferent prices.

It will sale higher on one company to avoid a net loss

and then sale cheaper on another to decrease the taxable income.

That's why it will be "lock" at 160,00 until an operation is made with a non-affiliate company

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3 years ago

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Answer:

a. $4,160.

Explanation:

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These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.

The adjusted cash book balance is one that contains the necessary adjustments to transactions captured in the bank statement but yet to be recorded in the books.

The adjusting items are

Notes receivable and interest collected by bank 850
Bank charge for check printing 20
NSF check 170

Hence the adjusted cash balance

= $3500 + $850 - $20 - $170

= $4,160

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4 years ago

The following facts apply to the pension plan of Culver Inc. for the year 2017. Plan assets, January 1, 2017 $495,100 Projected

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Answer and Explanation:

The preparation of pension worksheet is shown below:-

General Journal entries

Particulars Annual pension Cash Pension Assets/

expenses Liabilities

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(495,100 × 8%)

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Balance 31 Dec 217 $4,608 Cr.

Memo record

Projected benefit obligation Plant assets

Balance Jan 1 2017 $495,100 Cr. $495,100 Dr.

Service cost $43,700 Cr.

Interest cost $39,608 Cr.

(495,100 × 8%)

Actual return $52,100 Dr.

Contributions $26,600 Dr.

Benefits $36,500 Dr. $36,500 Cr.

Balance 31 Dec 217 $541,908 Cr. $537,300 Dr.

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3 years ago