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enyata [817]
2 years ago
11

Net income for the year was $161,511. The beginning net position balances are net investment in capital assets, $585,400; restri

cted, $5,000; and unrestricted, $254,790. New golf carts were leased. The present value of the lease liability is $200,000. A principal payment of $40,000 was made during the year, and amortization of the leased asset totaled $37,500. Lawn edging equipment with a carrying value of $6,100 was sold for $6,300. A new lawn mower was purchased for $75,000. At the end of the year, a $25,000 note associated with the machine remains outstanding. Depreciation of the mower was $7,500. Additional depreciation totaled $30,000.
Required
Prepare the net position section of Shelburne’s statement of net position.

Business
1 answer:
nikitadnepr [17]2 years ago
7 0

Answer:

Please see attached

Explanation:

please note that there may be differences between International Financial Reporting Standards and US GAAP

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Fremont Enterprises has an expected return of 18 % and Laurelhurst News has an expected return of 21 %. If you put 43 % of your
Umnica [9.8K]

Answer: 19.29%

Explanation:

From the question, Fremont Enterprises has an expected return of 18% and 57% of the portfolio is put in​ Fremont. The portfolio return of Fremont will be the expected return multiplied by the weight. This will be:

= 18% × 57%

= 18 × 0.57

= 10.26%

We are also told that Laurelhurst News has an expected return of 21% and that 43% of the portfolio is put in​ Laurelhurst News. The portfolio return here will be the expected return multiplied by the weight. This will be:

= 21% × 43%

= 21% × 0.43

= 9.03%

The the expected return of the portfolio will now be:

= 10.26% + 9.03%

= 19.29%

4 0
3 years ago
Question(2 points) Consider the following balance sheet for the Wahoo Bank. Use it to answer the two questions that follow. Use
lidiya [134]

Answer:

C. Required reserves decrease by $20.

D. Outstanding liabilities decrease by $200.

A. Required reserves increase by $65.00.

D. Outstanding liabilities increase by $650.

Explanation:

<u>PART I:</u><u> The withdrawal from the checking accounts:</u>

makes the required reserves to decrease as there is less cash deposists.

Also, the bank no longer has the obligation to give this 200 dollars to Shantee thus, otstanding liabilities decrease by 200 as well:

checking deposits 200 debit

               cash                            200 credit

<u>PART II:</u><u> Deposit in a checking account</u>

This is the opposite. The bank reserve must increase by 10% of the deposit

650 x 10% = 65

And the outstanding liaiblities increase by the full amount as later the bank will give back 650 dollars to Dalon in the future.

3 0
2 years ago
A fire destroyed some of Powell Company's records. Information from the documents found related to inventory is listed below. En
andrey2020 [161]

Answer:

$478,000

Explanation:

Purchase inventory = cost of goods sold + ending inventory - beginning inventory

Purchase = (445,000 + 76,000) - 43,000 = $478,000

6 0
3 years ago
Read 2 more answers
The table shows the predicted cost of attending an in-state four-year public college 4 years from now. Category Predicted Annual
astraxan [27]
<span>To find the cost of going to this college in four years, sum all the values given (9350 + 8630 + 1650 + 2140 + 1110), which gives $22,880 for attending. Subtracting 4500 for grants and 8630 for not having to live on-campus gives a value of $9750 required. Dividing this value by 48 months (the time left before he begins attending) gives an approximate value of $203.13 needed to be saved per month without any interest being added. To make sure that Caleb has enough if the $3.13 per month isn't made up by interest down the line, $300 should be saved each month.</span>
7 0
3 years ago
Read 2 more answers
LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

3 0
2 years ago
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