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Alex17521 [72]
3 years ago
13

A company was formed with $60,000 cash contributed by its owners in exchange for common stock. The company borrowed $30,000 from

a bank. The company purchased $10,000 of inventory and paid cash for it. The company also purchased $70,000 of equipment by paying $10,000 in cash and issuing a note for the remainder.
Use the information above to answer the following question. What is the amount of the total assets to be reported on the balance sheet?

a. $150,000.
b. $160,000.
c. $90,000.
d. $80,000.
Business
1 answer:
kirill115 [55]3 years ago
6 0
Here is your answer

A. $150,000
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On December 31, 2018, Gardner Company holds debt securities classified as HTM with a face amount of $100,000 and a carrying valu
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Answer:

$2,850

Explanation:

Given the following :

Face value of security = $100,000

Carrying value = $95,000

Effective interest rate = 6%

Interest paid semianually = $2500

The effective interest revenue recognized for the six months ended December 31, 2018 is:

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Semiannual interest = 6% / 2 = 3%

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2 years ago
MIT economist Jerry Housman has estimated the price elasticity of demand for Post Raisin Bran cereal to be -2.5 and the price el
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Answer:

The demand for Post Raisin Brand cereal is: ELASTIC  

the demand for all types of breakfast cereals is: INELASTIC

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To calculate the price elasticity of demand (PED) we can use the following formula:

PED = % change in quantity / % change in price

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