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3 years ago

Which of the following financial statements is concerned with the company at a point in time?

Business

1 answer:

Pavlova-9 [17]3 years ago

3 0

Answer:

The correct answer is C

Explanation:

Balance sheet is the one of the financial statement, which reports the assets, shareholders' equity and liabilities of the company, at a particular point in time or particular period or year. This financial statement states or offers the basis or grounds for evaluating the return rates as well as computing the capital structure.

The balance sheet offers the snapshot of the accounts of the company which is at a given point in time.

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Key West To Go, located in Key West, Florida, builds and sells scooters. These are sold to several local shops in the area, who

beks73 [17]

Answer:

d. 42.90 hours

Explanation:

y = aQᵇ

y = average time to produce one more unit

a = the time it took to produce the first unit

Q = cumulative production

b = learning rate = [(log learning rate in %) / log 2] = -0.152003093

learning rate in % = 10.8 / 12 = 0.9 = 90%

cumulative quantity average hours per unit total hours

1 12 12

2 10.8 22.8

3 10.38 33.18

4 12 x 4⁻⁰°¹⁵²⁰⁰³⁰⁹³ = 9.72 42.90

3 0

3 years ago

On January 1, a company issued and sold a $440,000, 6%, 10-year bond payable, and received proceeds of $434,000. Interest is pay

Harlamova29_29 [7]

Answer:

The carrying value of the bonds immediately after the first interest payment is $434,300.

Explanation:

Face value of the bond = $440,000

Proceeds from bond issue = $434,000

Discount on bond payable = Face value of the bond - Proceeds from bond issue = $440,000 - $434,000 = $6,000

Total number of seminual = Number of years of bond maturity * Number of semiannual in a year = 10 * 2 = 20

Discount amortizaton per semiannual = Discount on bond payable / Total number of seminual = $6,000 / 20 = $300

Carrying value after first interest payment = Proceeds from bond issue + Discount amortizaton per semiannual = $434,000 + $300 = $434,300

Therefore, the carrying value of the bonds immediately after the first interest payment is $434,300.

3 0

3 years ago

Smithers is retiring after working for Springfield International for 20 years. Upon hearing the news of his retirement, the pres

Kobotan [32]

Answer:

The answer is: A) Smithers will lose because of past consideration

Explanation:

Past consideration in contract law refers to acts that were done before the contract was made. Since those acts were already performed, they are not affected by the other party´s actions or promise of actions.

Smithers had already worked for the company for 20 years (and received a salary for doing so), so his prior work cannot be part of a new contract with the company.

5 0

4 years ago

Nathanial’s company developed a new machine that could sort through a stock of produced goods to identify defective ones. His co

Marta_Voda [28]

Nathanial’s company can apply for a Utility Patents patent for the new machine.

<u>Explanation:</u>

Any intellectual property can be protected by the use of a patent. Filing for legal protection is the major requirement for acquiring a patent. Patent are useful for the protection of any new process, machine or anything that is created physically. Utility patent, plant patent, provisional patent and design patent are the different types of patents that exists in US.

When a new product,machine or process is created or remodeled then Utility Patent helps to protect them. "patent for Invention" is the other name given for Utility patent. It protects your inventions from being sold or used by other industries or enterprises without your authorization.

5 0

3 years ago

Assume that a Parent owns 80 percent of a Subsidiary that has 6 percent preferred stock outstanding with a reported par value of

DiKsa [7]

Answer:

Consolidated net income attributable to the noncontrolling interest $14,760

Consolidated net income attributable to the controlling interest $320,040

Explanation:

Computation of the amount of consolidated net income attributable to the noncontrolling interest and the amount of net income attributable to the controlling interest.

CONSOLIDATED NET INCOME attributable to the noncontrolling interest

First step is to find the Divide amount

Dividend =6% x $720,000

Dividend= $43,200

Second Step is to find the Net Income from Subsidiary

Net Income from Subsidiary= $117,000-$43,200

Net Income from Subsidiary=$73,800

Last step is to calculate consolidated net income attributable to the noncontrolling interest

Noncontrolling interest =$73,800 x 20%

Noncontrolling interest = $14,760

NET INCOME attributable to the controlling interest

First step is to find the controlling interest amount

Controlling interest=80% x $73,800

Controlling interest= $59,040

Last step is to find the Parent company income

Parent company income= $261,000 + $59,040

Parent company income= $320,040

Therefore Consolidated net income attributable to the noncontrolling interest is $14,760 while the Consolidated net income attributable to the controlling interest is $320,040

4 0

3 years ago