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Taya2010 [7]
4 years ago
8

Frankfort Corporation purchases an investment in Bradley, Inc. at a purchase price of $9.8 million cash, representing 40% (at bo

ok value) of Bradley. During the year, Bradley reports net income of $1,680,000 and pays $413,000 of cash dividends. At the end of the year, the market value of Frankfort’s investment is $11.9 million. What amount of equity earnings would be reported by Frankfort Corporation? Select one:A. $165,000B. $672,000C. $507,000D. $1,267,000E. None of the above
Business
1 answer:
vazorg [7]4 years ago
7 0

Answer:

B. The amount of equity reported by Frankfort Corporation is $672,000

Explanation:

Equity earnings

= Frankfort's share in net income of Bradley

= 1,680,000 * 40%

= 672,000

Option B

Please comment if you face any issues****************

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Swifty Corporation purchased a machine for $66000 on July 1, 2020. The company intends to depreciate it over 8 years using the d
Lostsunrise [7]

Answer:

Depreciation expense= $7,612.5

Explanation:

Giving the following information:

Purchase price= $66,000

Salvage value= $5,100

Useful life= 8 years

<u>First, we need to determine the depreciation expense for the whole year. We will use the following formula:</u>

<u></u>

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(66,000 - 5,100) / 8]

Annual depreciation= $15,225

<u>For 2020:</u>

Depreciation expense= (15,225/12)*6= $7,612.5

3 0
3 years ago
Which one of the following statements is not true? Group of answer choices Total fixed costs remain the same regardless of volum
Andre45 [30]

Answer:

The correct answer is letter "D": Total variable costs decrease as the volume increases.

Explanation:

Total fixed costs are those that do not vary when the volume of production changes. However, unitary fixed costs change with fluctuations in production. As production increases, unitary fixed costs decrease and if production decreases unitary fixed costs increase.

Also, unitary variable costs remain the same in front of changes in output but total variable costs change directly proportional to variations in production.<em> It means if the volume in production increase so will total variable costs and vice versa.</em>

3 0
3 years ago
Restrictive covenants... a. Were rendered unenforceable by Shelly v. Kraemer in 1948. b. Were rendered unenforceable by the the
Dmitriy789 [7]

Restrictive covenants "were rendered unenforceable by Shelly v. Kraemer in 1948."

This is evident by the Supreme Court decision in 1948 during the case of Shelly v. Kramer when the court ruled that the 14th Amendment prohibits the court from enforcing race discrimination in real estate contracts.

The 14th Amendment, which was ratified on July 9, 1868, stated that all the citizens of the United States have equal protection under the law.

Thus, no American citizens shall be deprived of life, liberty, or property by any state law.

Hence, in this case, it is concluded that the correct answer is option A. "were rendered unenforceable by Shelly v. Kraemer in 1948."

Learn more here: brainly.com/question/21345607

8 0
2 years ago
Mr. Fixit, Inc.'s fixed asset turnover was 3.0 in 2019 and 2.4 in 2018. This increase in its fixed asset turnover may indicate t
marusya05 [52]

Answer:

- Used its fixed assets more efficiently.

- Had a greater increase in sales relative to its fixed assets.

Explanation:Fixed assets are long term assets that a company acquires,they are also tangible and are non current in nature. This type of assets appear in a company's balance sheet buildings,equipments,lands etc.

WHEN A FIXED ASSET IS EFFICIENTLY UTILIZED IT WILL CONTINUE TO GIVE A HIGHER TURNOVER.

IT CAN ALSO MEAN THAT THE ASSET HAD A GREATER INCREASE IN SALES RELATIVE TO ITS FIXED ASSET.

5 0
3 years ago
What is e-commerce ? definition
abruzzese [7]

Answer:

Ecommerce, or electronic commerce, is a term that’s used often in sales discussions these days. Product sellers and service providers can increase sales through online commerce and boost revenue with ease. Selling online is a popular sales method, worldwide.

Explanation:

Hope it helps!

4 0
2 years ago
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