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3 years ago

14

The classified balance sheet will show which asset subsections?

1 answer:

Mnenie [13.5K]3 years ago

6 0

The classified balance sheet will show which asset subsections?

b. current assets and property, plant, and equipment

Assests are divided into current assets and PPE, Thus there are going to be 2 sections in assets sides.

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Antonio would like to replace his golf clubs with a custom-measured set. A local sporting goods megastore is advertising custom

AlexFokin [52]

Answer:

Antonio and Replacement of Golf Clubs

a. He should cash the CD and use the proceeds to finance part of the golf clubs.

b. The reason is that he would pay more in in-store financing totaling $37.06 per annum than the net interest he would generate from the CD totaling $23.18 per annum. And Antonio would incur a net loss of $13.88 if the CD was renewed unlike the $5.74 if the CD were not renewed.

Explanation:

Option 1: Renew Certificate of Deposit (CD):

Interest earned = $33.48 ($600 * 5.58%)

Taxes = 10.30 ($33.48 * 30.75%)

Net Income = $23.18

Cost of in-store financing = $37.06 ($710 * 5.22%)

Net Loss(overall) = $13.88 ($37.06 - $23.18)

Option 2:

Sale-off of CD = $600

Net financing required = $110 ($710 - $600)

Cost of financing = $5.74 ($110 * 5.22%)

6 0

4 years ago

Type the correct answer in the box. Spell all words correctly.

Vinvika [58]

Answer:

Being debt-free within 15 years is an example of a long-term goal.

Explanation:

One main characteristic of a long-term goal is that it involves a planning horizon that is more than 5 years during which some thoughts are paid to the goal, and the means of achieving it are marshalled out, and rigorously pursued. Long-terms goals are best broken into manageable, short-term, and medium-term goals to enable the decision-maker to accomplish her goal. The future is always uncertain, to achieve a long-term goal you must remain motivated.

3 0

3 years ago

Ralph’s Mini-Mart store in Alpine experienced the following events during the current year:1. Incurred $270,000 in selling costs

Neko [114]

Answer:

a. $225, 000

b. $900, 000

c. $140, 000

Explanation:

Ralph Mini-Mart Store in Alpine:

(a) Beginning inventory: this is the value of inventory on hand at the beginning of the financial year. This is the value is the same as the value of ending inventory at the end of the previous financial year. This value includes the value of the inventory and any costs that were incurred to bring the inventory to the organization’s store house.

For Ralph Mini- Mart, beginning inventory = $225, 000 (refer to item 5)

(b) Transfers- In: this is the inventory that was purchased during the financial year. This value will include the cost of the inventory and any other costs that were incurred to bring the inventory to the store house of Ralph’s Mini – Mart. In this instance, the additional cost is the transportation cost of $30, 000 that was incurred to transport the inventory from the supplier to the warehouse.

For Ralph’s Mini – Mart, the Transfers – In = $870, 000 + $30, 000 = $900, 000 (refer to item 3 and 4)

(c) Ending balance: the ending balance is the value of inventory at the end of the financial year. This is the value of inventory that Ralph’s remains with after purchasing inventory from suppliers and selling inventory to customers. This value will take into account any inventory write- downs and obsolescence. In this instance, there has been no inventory write- downs and no inventory obsolescence or thefts.

For Ralph’s Mini – Mart, the value of ending inventory = $140, 000 (refer to item 5)

5 0

3 years ago

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2013. The manufacturing cost

Taya2010 [7]

Answer:

b. $3,115,234

Explanation:

Opening Balance as on 01.01.2013 $21,000,000

Less: Payment of First Instalment on 01.01.2013 <u>$3,002,038</u>

Net Balance as on 01.01.2013 $17,997,962

Add: Interest at 9% up to 30.06.2013 $1,619,816

Less: Payment of 2nd instalment on 30.06.2013 <u>$3,002,038</u>

Balance as on 01.07.2013 $16,615,740

Interest at 9% up to 31.12.2013 $1,495,417

Total interest revenue to be reported on the lease during the calendar year 2013 = $1,619,816 + $1,495,417 = $3,115,234

7 0

3 years ago

Suppose you deposit $800800 cash into your checking account. By how much will checking deposits in the banking system increase

Marina CMI [18]

Answer:

Change in checking deposit is $18,20,000

Explanation:

Checking account is the kind or form of deposit account that is held at a institution and it allows the deposits as well as withdrawals.

The change in the checking deposit is computed as:

Change in Checking deposit = Deposit amount / Required reserve ratio

where

Demand deposit is $800,800

Required reserve ratio is 0.440

Putting the values above:

Change in checking deposit = $800,800 / 0.440

Change in checking deposit = $18,20,000

8 0

3 years ago