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2 years ago

8. When Jill Thompson received a large settlement from an automobile accident,

Business

1 answer:

Dennis_Churaev [7]2 years ago

3 0

Answer:

The amount of fees that Jill will pay this year=$248.20

Explanation:

Expense ratio is a measure of how much fees that fund management firms charge their clients for their investments services. These fees cover administrative and operational costs. In our case, the expense ratio will be expressed as the fees that Jill will pay as a portion of the total amount she invested. The expense ratio can be expressed as shown;

ER=C/A

where;

ER=expense ratio

C=total funds cost

A=total funds assets

In our case;

ER=0.17%=0.17/100=0.0017

C=unknown to be determined

A=$146,000

replacing;

C=ER×A

C=0.0017×146,000=$248.20

The amount of fees that Jill will pay this year=$248.20

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3 years ago

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Answer:

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Interest = 400,000 * 1.0% * 11/12 months = $3,666.67

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2 years ago

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

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Answer:

Issued Common Stock to Investors in exchange for Cash received from investors

Stockholders Equity = Increase

Assets = Increase

Liabilities = No Effect

Paid Monthly Rent

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Received cash from customers when service is performed

Assets = Increase

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Liabilities = No Effect

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Assets = Increase

Liabilities = No Effect

Stockholders Equity = Increase

Explanation:

Issued Common Stock to Investors in exchange for Cash received from investors

Stockholders Equity increase due to increase in issue of additional common stock.

Assets increase due to inflow of asset of Cash resulting from the issue.

Paid Monthly Rent

Stockholders equity decrease due to increase in an expense item (Rent) which decreases profits attributable to stockholders.

Assets decrease due to outflow of economic benefits in form of cash.

Received cash from customers when service is performed

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