Wendy’s pretzel burger ad made me hungry and wanted to buy burger
Cate can claim Amy as a dependent.
<u>Explanation:</u>
The custodial parents can claim their child as the dependent, as a qualifying child for head of household filing status, for EIC, for the child tax credit and so on. But in case the parents get divorced, then the parent with whom the child spends the most time gets to claim the child as dependent.
In the above case, since Amy stays with Cate, Cate gets to claim Amy as dependent because she is staying with Cate only and spends the most time with her.
Answer:
Net Asset Value of ETF = $99.75
Explanation:
Net asset value of an ETF
- The net asset value of an ETF represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.
- ETFs calculate the NAV at 4:00 p.m. Eastern Time after the markets close.
- The NAV is used to compare the performance of different funds, as well as for accounting purposes.
- The ETF also releases its current daily holdings, amount of cash, outstanding shares, and accrued dividends, if applicable.
- For investors, ETFs have the advantage of being more transparent. Mutual funds and closed-end funds do not have to disclose their daily holdings.
- In fact, mutual funds usually disclose their holdings only quarterly.
<u>Calculation</u>
Market Value per share = $100
Expense Ratio = 0.25%
Net Asset Value = Market Value per share * (1 - Expense Ratio)
Net Asset Value = $100 * (1 - 0.0025)
Net Asset Value = $100 * 0.9975
Net Asset Value = $99.75
Answer:
a. $4.4 million
Explanation:
a. For computing the cost of the goodwill, first we have to calculate the fair value of the net asset which is shown below:
The fair value of net asset = The market value of Red River Chips' assets - the market value of liabilities
= $7 million - $6.2 million
= $0.8 million
And, the purchase value of Red River Chips for cash is $5.2 million
So, the goodwill would be
= $5.2 million - $0.8 million
= $4.4 million
b. Goodwill is an intangible asset that is recorded in the asset side of the balance sheet. It is used for impairment tests annually. Since the fair value is less than the carrying value so the journal entry would be
Loss on impairment A/c Dr XXXXX
To Goodwill A/c XXXXX
(Being loss on impairment is recorded)
Answer:
The President Submits a Budget Request The president sends a budget request to Congress each February for the coming fiscal year, which begins on Oct. 1. 5
