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Luda [366]
3 years ago
9

The changes in account balances of the Vel Corporation during Year 6 are presented below: Increase Assets $356,000 Liabilities 1

08,000 Capital stock 240,000 Additional paid-in capital 24,000 Vel has no items of other comprehensive income (OCI), and the only charge to retained earnings was for a dividend payment of $52,000. Thus, the net income for Year 6 is
a. $16,000
b. $36,000
c. $52,000
d. $68,000
Business
1 answer:
zzz [600]3 years ago
6 0

Answer:

b. $ 36,000

Explanation:

The fundamental accounting equation is

Assets = Liabilities + Stockholders Equity

Per the data provided in the question regarding changes in account balances

$ 356,000 = $108,000 + (240,000+24,000)

$ 356,000 = $ 372,000

= - ($ 14,000)

Since the data provides that a dividend payment of $ 52,000 has been made, we have to add it to our differential balance to get the income for the year.

$ - 14,000 + $ 52,000  = $ 36,000

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Suppose the U.S. yield curve is flat at 3% and the euro yield curve is flat at 5%. The current exchange rate is $1.4 per euro. W
Kruka [31]

Answer: hello your question is incomplete attached below is the complete question.

answer :

3.02 million,    2.96 million,    2.91 million

Explanation:

<u>Determine the swap rate over a 3-year period</u>

swap rate = forward exchange rate * exchange amount

For year 1

1.4 * ( 1 + 0.03 / 1 + 0.05 ) * 2.2 million

= 1.4 ( 0.98095 ) * 2.2

= 3.02 million

For year 2

1.4 * ( 1 + 0.03 / 1 + 0.05 )^2 * 2..2 million

= 1.4 ( 0.98095 )^2 * 2.2 million

= 2.96378 million

For year 3

1.4 * ( 1 + 0.03 / 1 + 0.05 )^3 * 2.2 million

= 1.4 ( 0.98095 )^3 * 2.2 million

= 2.90733 million  

3 0
3 years ago
In March 2007March 2007​, the U.S. unemployment rate was 4.44.4 percent. In August 2008 August 2008​, the unemployment rate was
eimsori [14]

Answer:

A Recession happened.

Explanation:

When the market sees a recession we see an increase in the unemployment rate due to cyclical unemployment whenever there in a business cycle even though the labor force was constant but in a recession companies face a lot of costs which become higher than their revenue so for example when there is a recession the cost of producing 1 more unit is actually higher than the revenue a firm gets from producing that 1 unit because marginal cost increases at a decreasing rate so they have to lay off people at a firm on that unit of production to maximize revenues.

7 0
3 years ago
"Value added" is defined as: a. the price of the product multiplied by the quantity produced. b. total sales revenue divided by
FromTheMoon [43]

Answer:

d. the value of total product minus raw materials costs.

Explanation:

The price of the product multiplied by the quantity produced is the revenue.

Total sales revenue divided by the quantity produced gives the price of the product.

I hope my answer helps you

6 0
4 years ago
State 3 advantages in setting up a business in Maldives?
evablogger [386]

Answer:

1. No restrictions on sending their earning profit to their own country

2. It takes maximum of 30 days to complete the entire process of company registration in Maldives

3. The government encourages projects that are environmentally friendly

4 0
3 years ago
Which of the following is a true statement about a request for a change in accounting method?A. Some requests are automatically
fiasKO [112]

Answer: (E) All of these options are true

Explanation:

  The change in the accounting method is the process of changing the overall plan of the accounting in terms of gross income and the cash deduction. It is also change the material item in terms of treatment.

 The form 3115 is one of the application that required in the accounting method. This application is filed with the proper request to the IRS to change the accounting method. The IRS basically provide the automatic procedure for obtain the automatic consent for changing the method.

Therefore, Option (E) is correct.

 

6 0
3 years ago
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