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barxatty [35]
4 years ago
13

At the beginning of the year, the permanent fund of Rapid City had an investment portfolio with a historical cost of $300,000 an

d a fair value of $330,000 . There were no purchases or sales of securities during the year. At year end the portfolio had a fair value of $360,000 . At the end of the year Rapid City will account for this increase in fair value in which of the following ways? a) Credit Investment income, $30,000. b) Credit Investment income, $60,000. c) Credit Fund Balance, $30,000. d) No entry is made to recognize increase in fair value.
Business
1 answer:
Bogdan [553]4 years ago
5 0

Answer:

Correct option is D

Explanation:

Provided Information,

There is a permanent fund with historical cost of $300,000.

Since the nature of fund is permanent and not a current fund which needs to be shown at current fair market value.

In case of long term assets and funds they are shown at historical cost, as there change in price is not reflected in balance sheet.

As the change might happen with increase or decrease, until the change is permanent the fund is shown at historical cost.

Therefore in the given case the increase in fair value from $300,000 to $360,000, will not be reflected in balance sheet.

Correct option is d)

No entry will be done to recognize any increase or decrease in fair value of such funds.

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Linda believes that employees can view work as being as natural as rest or play, and therefore the average person can learn to a
hram777 [196]

Answer: Theory Y

Explanation:

Douglas McGregor came up with this theory of labor motivation that proposes that people are motivated internally to work hard and so need little push to actually work.

They are like this because they have come to view work as being a natural occurrence just like rest or play. Because it is now natural to them, they are able to learn to accept and even seek responsibility. Managers prefer such workers.

6 0
3 years ago
The 2020 accounting records of Novak Corp. reveal these transactions and events.
anastassius [24]

Answer:

         Statement of Cash Flows (Direct Method)

          For Year Ended December 31, 2020

Particulars                                             Amount

Cash Flows from operating activities:

Cash Receipts from:

Customers ($50800+ $190100)   $240,900

Dividend Revenue                         $18,800           $259,700

Less: Cash payments:  

For Interest                                     -$10,000

For Income Taxes                          -$16,900

To suppliers for Merchandise       -$115,600

For Salaries and wages                  -$57,100

For Operating Expenses                -$28,300     -<u>$227,900</u>

Net Cash provided by operating activities       <u>$31,800</u>

4 0
3 years ago
Constable Co. reported the following information at December 31, Year 1:
zhenek [66]

Answer:

The amount of Current liabilities is $7,710

Explanation:

The amount of current liabilities on the classified balance sheet is seen below;

Constable Corp.

Balance sheet as at December 31, year 1.

Current liabilities

Accounts payable $4,540

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Total $7,710

5 0
3 years ago
Middle management is the intermediate management level accountable to top management and responsible for leading lower level man
Dimas [21]

Answer:

Middle Management

Which is not a typical function:

Middle management may be reduced in organizations as a result of reorganization. Such changes can take the form of downsizing," delayering," and outsourcing.

Explanation:

Options:

1. Middle management is at the center of a hierarchical organization, subordinate to the senior management but above the lowest levels of operational staff.

2. Middle managers are accountable to top management for their department’s function. They provide guidance to lower-level managers and inspire them to perform better.

3. Middle managers balance a functional or technical understanding of those who report to them with the interpersonal skills of a manager. This form of leadership requires a strong ability to communicate, mentor, train, hire, organize, optimize processes, and prioritize.

4. Middle-management functions generally revolve around enabling teams of workers to perform effectively and efficiently and reporting these performance indicators to upper management.

5. Middle management may be reduced in organizations as a result of reorganization. Such changes can take the form of downsizing," delayering," and outsourcing.

The last option (No. 5) is certainly not a function of middle management.  It is what happens to middle management during reorganization.

3 0
3 years ago
A u.s. consumer electronics company has to shut down because it cannot compete against foreign manufacturers. for the u.s., this
Dmitry_Shevchenko [17]
The word to fill the blank space is "Cost".

The cost of universal trade are borne by those organizations and their specialists whose employments are threatened by foreign competitions. Some residential organizations may lose piece of the overall industry to outside organizations, hindering their productivity and capacity to make employments. Other firms may confront so much foreign competition that they're driven bankrupt altogether.
6 0
3 years ago
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