Answer:
Journal entry that Parent will make on the date of acquisition to record the investment in Son Inc. is <u>$1035000.</u>
Explanation:
Journal entry Parent make on the date of acquisition to record the investment in Son Inc.
The net worth of Son’s Inc. is $ 1150000. The parent acquires 90 % of it . So we assume that 90 % stock is held by parent for $ 1035000.
An annuity is a series of payments made at even intervals. Examples of annuities include fixed deposits into savings accounts, monthly mortgage payments, monthly insurance payments, and annuity payments. Annuities can be classified by the frequency of payment dates.
Payments (deposits) can be made weekly, monthly, quarterly, yearly, or at other regular intervals. Annuities can be calculated by a mathematical function known as the "annuity function".
An annuity that provides payment for the rest of your life is an annuity.
There are three main types of annuities: fixed, variable, and index, each with its own level of risk and payout potential. Income from annuities is generally taxed at regular income tax rates rather than at the lower long-term capital gains tax rate.
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Answer:
Star Associates is a venture capitalist.
Explanation:
A venture capital is a type of private equity firm that specializes in investing on early-stage startup companies. In exchange, they would receive a percentage of ownership over the company, depending on how much money they pledged in the funding round that the company held. Many tech entrepreneurs in Silicon Valley and elsewhere in the US receive this form of funding when they just started their company. Each venture capital firm has its own policy on the type of company the usually invest in and the amount that they are willing to pledge.
Answer:
C. DEBIT TO SALES RETURNS
D. CREDIT TO ACCOUNTS RECEIVABLE
Explanation:
The journal entry to record the May 15 transaction is shown below:
Sales return and allowance A/c Dr $40,000
To Accounts receivable $40,000
(Being sales return is recorded)
For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000
Answer:
nominal interest rate
Explanation:
Titan State Bank offer of 6% interest is a quoted interest rate. A quoted interest rate is also annual payable rate (APR) and in this case, it is compounded quarterly. Additionally, since this quoted rate does not take into account the inflation rate, it is referred as a Nominal interest rate. However, when that nominal rate of 6% is adjusted for inflation, the rate you earn is the Real interest rate which you calculate using the Fisher equation.
