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3 years ago

According to the Investment Company Act of 1940, the definition of "investment company" could include which of the following

Business

1 answer:

kicyunya [14]3 years ago

7 0

Answer:

Option (B) is the right answer.

Explanation:

According to the investment company Act of 1940, the investment companies are those companies whose main business is to gathers investment capital to invest them in marketable securities.

Hence According to the scenario, the most appropriate answer is option (B).

While the other option is incorrect because of the following reason:

Brokers/dealers can not be considered as an investment company because they are not the company.

Pooled investments in metals are not an investment company but considered as the commodity pool.

Insurance companies are also not investment companies.

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Performed services for $25,000 cash. Purchased land for $6,000 cash. Hired an accountant to keep the books. Received $50,000 cas

Maurinko [17]

Answer:

1. Operating Activities (OA)

2. Investing Activities (IA)

3. Not Applicable (NA)

4. Financing Activities (FA)

5. Financing Activities (FA)

6. Operating Activities (OA)

7.Investing Activities (IA)

8. Financing Activities (FA)

9. Operating Activities (OA)

10. Financing Activities (FA)

b. Ending Cash Balance $60,200

Explanation:

a. To Indicate how each of the events would be classified on the statement of cash flows as OPERATING ACTIVITIES (OA), INVESTING ACTIVITIES (IA), FINANCING ACTIVITIES (FA), or NOT APPLICABLE (NA).

1. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

2. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)

3.Based on the information it these transaction will be classified as NOT APPLICABLE (NA)

4. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

5. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

6. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

7. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)

8. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

9. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

10. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

b. Preparation of a statement of cash flows for 2018. Assume All-Star Automotive Company had a beginning cash balance of $9,000 on January 1, 2018.

STATEMENT OF CASH FLOWS

CASH FLOWS FROM OPERATING ACTIVITIES:

Cash receipts from revenue: $25,000

Less Cash payment for salary expense ($14,000)

Less Cash payments for utilities expense ($2,800)

Net cash flow from operating activities $8,200

CASH FLOWS FROM INVESTING ACTIVITIES:

Cash from the sale of land $9,000

Less Cash paid to purchase land ($6,000)

Net cash flow from investing activities $3,000

CASH FLOWS FROM FINANCING ACTIVITIES:

Cash receipts from stock issue $50,000

Add Cash receipts from loan $5,000

Less Cash payment on loan ($10,000)

Less Cash payments for dividends ($5,000)

Net cash flow from financing activities $40,000

Net increase in cash $51,200

($4,200+$3,000+$40,000)

Add Beginning cash balance $9,000

ENDING CASH BALANCE $60,200

Therefore the statement of cash flows for 2018 Ending Cash Balance is $60,200

8 0

3 years ago

Journal Entries and T-accounts [LO3-1, LO3-2] The Polaris Company uses a job-order costing system. The following transactions oc

ikadub [295]

Answer:

a.) Raw material 210000

Account payable 210000

(Purchase material on account)

b.) 1.Work in process 151200

Raw material 151200

(material used)

2.Overhead 37800

Raw material 37800

(Record indirect material )

c.)1. Work in process 49000

Factory payroll 49000

(Record direct labor)

2. Overhead 20000

Factory payroll 20000

(Record indirect labor)

d.) Overhead 106000

Accumulated depreciation 106000

(record depreciation)

e.) Overhead 130000

Account Payable 130000

f.) work in process (8*76400) 611200

Overhead 611200

g.) Finished goods 511000

Work in process 511000

( record completion of goods from wip to finished goods)

h.)Account receivable 605680

Sales 6056800

(record sales on account)

Explanation:

f.Overhead applied to a particular job= Predetermined rate* job hours allocated

h. copmlete job were shipped to customer at 34% above cost =(452000*34%)=452000+153680=605680.

5 0

4 years ago

Production refers to all the activities and processes used in making both tangible and intangible products.

Rzqust [24]

Usually everything would be intangible, I want to say is false

7 0

3 years ago

Finger [1]

Answer: sightseeing

Explanation:

Opportunity costs represent to the potential benefits that an economic entity misses out on when another alternative is chosen over another.

In this case, due to the increase in the price of the plane ticket, Mikael decides to give up visiting the popular Ouro Preto during his stay in Brazil even though it was earlier planned. Therefore, it can be infered that sightseeing is the opportunity cost as that is what he forgoes in order to choose a different alternative.

3 0

3 years ago

United States Customs and Border Protection screens more than 65,000 cargo containers on an average day.

alisha [4.7K]

True , If The United states can

7 0

3 years ago