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
mart [117]
3 years ago
10

Mint Co.'s cash balance in its balance sheet is $1,300,000, of which $300,000 is identified as a compensating balance. Additiona

lly, Mint has classified cash of $250,000 that has been restricted for future expansion plans as "other assets." Which of the following should Mint disclose in notes to its financial statements?Compensating | Restricted | Balance | Cash |A. No | YesB. Yes | YesC. No | NoD. Yes | No
Business
1 answer:
Natasha2012 [34]3 years ago
7 0

Answer:

Correct option is B Yes and Yes

Yes - Compensating shall be reported, And Restricted shall also be reported.

Explanation:

Compensating balance is the minimum balance to be maintained in the company's bank account as this is used by bank for offsetting loan, and used by company to set up the loan amount.

Restricted balance is a choice made by the company to not use the funds and use it later for company's growth or future projected, but still since it cannot be used it shall also be reported accordingly.

Therefore the company has the need to report such restricted balance also and compensating balance has to be reported as well.

Therefore correct option is B

Yes - Compensating shall be reported, And Restricted shall also be reported.

You might be interested in
Communicating with people you know or meet to share information or advice about a job defines _____.
Advocard [28]
The answer is career fair.
4 0
3 years ago
Read 2 more answers
So you can retire early, you have decided to start saving $500 a month starting one month from now. You plan to retire as soon a
Mashcka [7]

Answer:

It will take him 45 years

Explanation:

In this question, we are asked to calculate the number of years it would take to accumulate $1,000,000 if there is a plan to save $500 per month at an interest rate of 5%.

To solve this, we use the following mathematical formula:

Future value of annuity = Annuity payment * {(1+r)^n - 1}/r

Where r is the monthly interest rate and n is the number of months it will take.

From the question, we can identify the following;

Since he earns 5% interest on savings, the actual monthly interest rate will be 5%/12 = 0.4167% = 0.004167

Annuity payment = monthly payment = $500

Future value of annuity = $1,000,000

We substitute these values into the equation:

1,000,000 = 500 * [(1+0.004167)^n - 1]/0.004167

8.334 = (1.004167)^n - 1

1+8.334 = (1.004167)^n

9.334 = (1.004167)^n

To get n, we simply take the log on both sides of the equation

Log 9.334= nLog 1.004167

n = Log9.334/Log1.004167

n = 537 months

Question asks to calculate in years

there are 12 months in a year. The number of years it will take will be 537/12 = 44.76 years and that’s approximately 45 years

8 0
3 years ago
Using the same scenario as in number 2, your interviewer tells you that the game costs $1 to play and it has an expected value o
Anastaziya [24]

Roll sum of 19 sum of 17 sum of 15 sum of 13 doubles other winnings $5 $3 $2 $1 $.5 $0.

<h3>What is Roll sum?</h3>

The 12-month rolling sum is the total of the previous 12 months. As the 12-month period "rolls" forward each month, the amount from the most recent month is added and the amount from the previous year is deducted. As a result, a 12-month total has been carried forward to the new month.

Cumulative sums, often known as running totals, are used to show the total sum of data as it grows over time (or any other series or progression). This allows you to see the entire contribution of a specific measure across time.

The total number of possible outcomes is 36, which is equal to the total number of the first die (6) multiplied by the total number of the second die (6).

To know more about Roll sum follow the link:

brainly.com/question/2264527

#SPJ4

7 0
2 years ago
Why might long-term interest rates go down at the same time that the federal reserve pushes short-term rates up?
mart [117]
<span>Because the federal reserve would want to discourage quick investments or want people to save more money right now. Long term rates would go down because these are well thought out infrastructure projects that are good for the long run.</span>
3 0
3 years ago
The fundamental purpose of an organization's mission statement is to:
Maslowich

Answer:

The correct answer is letter "B": define the organization's purpose in society.

Explanation:

A company's mission reflects what is the purpose of the firms in regards to the impact with its surrounding society. It describes what product is going to be offered, what are the association's potential consumers, and in what sector of the society the firm will focus.

6 0
3 years ago
Other questions:
  • Can title insurers that issued a policy with a major defect require the purchasers of the policy to act as plaintiffs in order t
    14·1 answer
  • What is a saturated market like for sellers
    7·1 answer
  • When conducting qualitative analysis, you can use _______ to get basic information about your data. 
    14·2 answers
  • Government can reallocate resources of an economy through taxes, ________ payments, and by providing direct services..
    14·1 answer
  • You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and on
    9·1 answer
  • Cash paid for equipment would be reported on the statement of cash flows in_________.
    11·1 answer
  • Suppose, you own a screen-printing business and you enter into a contract with a local school to print 50 orange t-shirts with t
    11·1 answer
  • You tell your grandmother about a car you’re thinking of buying and, as expected, she tells you a story about buying her first b
    14·1 answer
  • Sheffield Corp. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $
    8·1 answer
  • Super Smarts University has a sticker price of $45,000 per year. Kyle is applying there and uses their online net price calculat
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!