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weeeeeb [17]
3 years ago
10

The Securities Investor Protection Corporation is a government agency charged with administering the liquidation of failed secur

ities firms to protect the interests of investors as much as possible. True False
Business
1 answer:
deff fn [24]3 years ago
4 0

Answer:

False

Explanation:

First of all, the Securities Investor Protection Corporation is not a government agency. The S.I.P.C was formed in 1970 under the Securities Investor Protection Act as a non-profit membership corporation.

In the unfortunate event that a securities firm fails (which is rather unlikely), the S.I.P.C steps in to help the investor. It can help by either transferring the accounts of the failed firm to a different firm or by liquidation.

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An acre lot was purchased for $100,000. A $500,000 office building was erected. The building is placed in service in May. Find t
kolezko [41]

Answer: $8025

Explanation:

From the information given, first and foremost, we need to realise that only the building in this case will be depreciated due to the fact that land is considered to be a non depreciable asset.

Therefore, the MACRS depreciation charge for year 1 will then be:

= MACRS rate × Value of Building

= 1.605% × $500,000

= 0.01605 × $500,000

= $8025

5 0
3 years ago
The Overland Company is preparing its cash budget for the month of June. The following information is available concerning its a
Alex777 [14]

Answer:

total estimated cash collections = $300,050

Explanation:

estimated collections during June:

collections of credit sales from May = $257,000 x 65% = $167,050

collections from credit sales before May = $50,000

collections from credit sales during June = $332,000 x 25% = $83,000

total estimated cash collections = $300,050

the write offs and the bad debt provisions are not included in this calculation.

8 0
3 years ago
Tulip Corporation purchased equipment for $ 54 comma 000on January​ 1, 2017. On December​ 31, 2019, the equipment was sold for $
Digiron [165]

Answer:

Gain/loss= $1,000 loss

Explanation:

Giving the following information:

Original price= $54,000

Accumulated depreciation= $28,000

Seling price= $25,000

The gain or loss from selling an asset depends on the book value.

Book value= original price - accumulated depreciation

Book value= 54,000 - 28,000= 26,000

If the selling price is higher than the book value, the company gain from the sale.

Gain/loss= 25,000 - 26,000= $1,000 loss

6 0
3 years ago
Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer account balance when it becom
yan [13]

Answer:

The correct answer is option (a).

Explanation:

According to the scenario, computation of the given data are as follows:

Allowance method shows that, if account is written off, then Accounts receivable account gets credited and Allowance accounts gets debited.

Here, both accounts are or balance sheet items.

So, it will not affect any expenses account.

8 0
3 years ago
Which of these is a private sector consumer-advocacy group?
victus00 [196]
D. Consider reports
5 0
3 years ago
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