1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
levacccp [35]
3 years ago
15

Headland Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $79,200. Headland determi

ned that due to poor economic prospects for Schuyler, the bonds have decreased in value to $70,800. It is determined that this loss in value is uncollectible.
Prepare the journal entry, if any, to record the reduction in value.
Business
1 answer:
Allisa [31]3 years ago
7 0

Answer:

The Journal Entry is as follows:

Loss on Impairment $8,400

Debt Investment ($8,400)

Explanation:

Given.

Carrying Value = $79,200

Decreased Value = $70,800

Differences = $79,200 - $70,800

Differences = $8,400

Since the loss in value is determined, uncollectible.

The required entry on the journal entry are the amount loss on impairment and the amount invested on debt.

The Journal Entry is as follows:

Loss on Impairment $8,400

Debt Investment ($8,400)

You might be interested in
Which of the following statements is CORRECT?a. Projects with "normal" cash flows can have two or more real IRRs.b. Projects wit
MaRussiya [10]

Answer:

e. Projects with "normal" cash flows can have only one real IRR

Explanation:

Normal cash flow refers to normal expected cash flow from the project, it might be negative, or positive. But generally there is a pattern in such cash flows. Initially they might be negative, but as the project starts getting mature there is positive cash flow.

This is normal circumstance. Under this there is only one real IRR. IRR is represented as the rate of return where present value of inflows = present value of outflows.

Thus, statement is true and correct.

6 0
4 years ago
Which of the following is most likely a true statement about social class?
tekilochka [14]

Answer:

3) Social classes show distinct product preferences in areas such as clothing.

Explanation:

Individuals that belong to the same social class exhibit similar buying patterns, which are different than those exhibited by people belonging to other social classes.

Social class is defined by an individual's economic status and his/her social hierarchy which is based on social esteem, prestige and success. The main factor in determining the social class of an individual is wealth, but not all the people that possess a similar amount of wealth belong to the same social class.

American society is generally divided into 5 social classes: upper, upper-middle, middle, working and lower. Generally the people belonging to the upper social class possess large inherited wealth (old money), while new rich people belong to the upper-middle class even though they might have even more money.

7 0
3 years ago
Cost-Volume Profit Analysis Recline Company is planning to produce and sell 11,250 units of its only product at a unit price of
Anarel [89]

Answer:

Calculate Recline’s contribution margin ratio.  

Contribution Margin RATIO  34%

Calculate the break-even point in sales dollars for Recline.    

Break-Even Point  $1.030.556

Explanation:

  • The contribution margin it's determined by the total amount of Gross Profit divided by the total value of sales. To this case $405,000/$1,192,500 = 34%

      Income Statement

11.250       Quantities

$106          Unit Price

$1,192,500 Sales

-$787,500 Cost of goods sold

$405,000 Contribution Margin  34%

-$281,250 Fixed Cost

$123,750 Operating Income

  • The Break Even point it's when the Operating Income is equal to zero, it means the lowest level of sales the company can afford and not loss money.

 BREAK EVEN POINT

9.722        Quantities

$106         Unit Price

$1,030,556 Sales

-$787,500 Cost of goods sold

$243,056 Contribution Margin

-$243,056 Fixed Cost

$0            Operating Income

5 0
4 years ago
Making small talk at a meeting is a bad idea because ______.
faltersainse [42]

Making small talk at a meeting is a bad idea because it wastes a tremendous amount of time. Correct answer: B  It is critical to ensure that meetings are well-organized, planned, and beneficial to the participants. The less time spent in meetings, the more productive and revenue-generating employees can be. Making small talk will only decrease the effcient time for the meeting.

7 0
3 years ago
Read 2 more answers
The incentives built into the market economy ensure that resources are put to good use and that opportunities to make people bet
Zepler [3.9K]

Answer:

market outcome is inefficient

Explanation:

This means that the market outcome is inefficient.

Since people usually exploit gains for the trade.

These are principles of individuals, The above statement further means market failure and individual pursuit self interest found in the market make the society worse off.

8 0
3 years ago
Other questions:
  • If policymakers are concerned that the economy is in danger of rising inflation because aggregate demand is increasing faster th
    9·1 answer
  • Au Sable Corporation reported taxable income of $800,000 in 20X3 and paid federal income taxes of $272,000. Not included in the
    12·1 answer
  • Which of the following is an example of the use of fiscal policy by the U.S. government? A. Congress makes it illegal for the po
    7·2 answers
  • What happens to a given supply or demand curve if one of the determinants of supply or demand change?
    5·1 answer
  • Determining Net Cash Flow from Operating Activities
    12·1 answer
  • What would you do as ceo to support the goals of japan airlines during the challenging economics that airlines face?
    13·1 answer
  • Suppose that the market for haircuts in a community is perfectly competitive and that the market is initially in long-run equili
    13·1 answer
  • Tax incidence is the A. burden sellers have to absorb from a tax on goods and services. B. deadweight loss created by a tax. C.
    14·1 answer
  • Selma deposited a paycheck for $378. 42. She’ll use the check register to record her transaction. What will be her new balance?
    10·1 answer
  • Describe how crashing and fast tracking can be used to compress a project schedule. What limitations could there be with each of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!