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3 years ago

Disclosure notes to a company's financial statements:

Business

1 answer:

puteri [66]3 years ago

4 0

Answer:

(A) Are an integral part of a company's financial statements.

Explanation:

The company financial statement involves income statement, statement of stockholder equity, balance sheet, and the cash flow statement

The disclosure notes contain the important facts and figures which are required to disclose it as it reveals the crucial information which might change the decision of the users and it cannot be shown elsewhere in the financial statement

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Colleen sold a house to Ben for $300,000. Before selling the House, Colleen forgot to tell Ben about a leaky faucet in a little-

arlik [135]

Answer: Because Y's failure to notice the leaky faucet means that he did not justifiably rely on X's "misstatement."

Explanation: Ben may be unable to rescind on the basis that, upon the sale of the property, the leaky faucet is as not intentionally hidden from Ben's notice. If during the property inspection, the leaky faucet was noticed by Ben, and Colleen gave a false statement about the faucet in other to conceal the impairment, then Colleen would have been deemed to have made Ben rely on a false statement and thus making a rescind by Ben would have been possible.

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3 years ago

Bridgeport Corp. has these accounts at December 31: Common Stock, $10 par, 4,800 shares issued, $48,000; Paid-in Capital in Exce

lozanna [386]

Answer:

Total stockholders' equity is $ 100,140

Explanation:

The stockholders' equity section of the balance sheet comprises of the common stock total par value ,the paid-in capital in excess of par value,plus the retained earnings minus the value of treasury stock

Stockholders' equity section of Bridgeport Corp. balance sheet

Common stock,$10 par value,4,800 shares issued $48,000

paid-in capital in excess of par $18,300

total paid share capital $ 66,300

retained earnings $ 43,300

total paid share capital and retained earnings $ 109,600

treasury stock ( $9,460)

Total stockholders' equity $ 100,140

3 0

3 years ago

Read 2 more answers

In a given year, US exports were $5 billion and imports were $16 billion. What was the US trade deficit or trade surplus that ye

BARSIC [14]

First, we will calculate the net trade balance:
net trade balance = exports - imports = $5 billion - $16 billion = $-11 billions

Then, we will decide whether this is trade deficit or trade surplus. A trade surplus is when the value of exports is more than that of imports while a trade deficit is when value of imports is more.
From the mentioned values, it is clear that the US suffered from a trade deficit this year.
Value of trade deficit = $11 billion.

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3 years ago

How much money does a Sales Agent make?

Flauer [41]

Sales Agent makes an average income of nearly 67,000 dollars approximately per year

<u>Explanation:</u>

Sales agent performs the duty of selling and distributing the products to the customer. They also provide complete services regarding the products and duly take the responsibility in clearing an issue in the product.

Sales Agents perform various roles such as;

Provides a complete description regarding the product along with its feature.
Interact with business officials for future sale agreements.
Maintains a friendly relationship with their customers.
Progress towards rapid growth in selling more products.

7 0

3 years ago

Shunda Corporation wholesales parts to appliance manufacturers. On January 1, Shunda issued $30,000,000 of five-year, 10% bonds

ahrayia [7]

Answer and Explanation:

a. The Journal entry is shown below:-

1. Cash Dr, $32,433,150

To Premium on Bonds Payable $2,433,150

To Bonds Payable $30,000,000

(Being Sale of bonds is recorded)

2. Interest Expense Dr, $1,297,326

($32,433,150 × 4%)

Premium on Bonds Payable Dr, $202,674

To Cash $1,500,000

($30,000,000 × 5%)

(Being First semiannual interest payment, including amortization of premium is recorded)

3. Interest Expense Dr, $1,289,219

($32,433,150 - $202,674) × 4%

Premium on Bonds Payable Dr, $210,781

To Cash $1,500,000

(Being second semiannual interest payment, including amortization of premium is recorded)

($30,000,000 × 5%)

b. Annual interest paid $3,000,000

Less: Premium amortized $364,094

($202,674 + $161,420)

Interest expense for first year $2,635,906

7 0

3 years ago