Answer:
B) Unrealized Holding Gain or Loss-Income. 300,000
Notes Receivable 300,000
Explanation:
December 31, 2017 realized losses:
- Dr Unrealized Holding Gain or Loss―Income 300,000
- Cr Notes Receivable 300,000
Since the carrying value of the notes receivable was $300,000 higher than their fair market value, it means that the company will lose money.
Since the company is losing money, it should debit the Unrealized Holding Gain or Loss―Income account. Gains are credited and losses are debited.
Answer:
$42,500
Explanation:
Red carpet had retained earnings of $537,500 and a net income of $135,000
On the previous balance sheet the retained earnings that was reported was $445,000
The first step is to calculate the change in retained earnings
= $537,500-$445,000
= $92,500
Therefore the amount of dividend paid by the firm can be calculated as follows
=Net income-change in retained earnings
= $135,000-$92,500
= $42,500
Hence the dividend paid by the firm during 2019 is $42,500
Answer:
New EPS will be equal to $2.92
Explanation:
It is given equity = $144300
Stock outstanding = 6500
Excess cash of the company = $14652
Net income =$18000
It is given company decides to use 50% of its excess cash to complete stock purchase.
Price per share will be equal to
$
Number of shares repurchased =
New EPS =
So new EPS will be equal to $2.92
Business Classifieds Section which has advertisements and announcements about local businesses.
Answer:
Jennifer made more money than her mother.
Explanation:
Today, Jennifer earns $50000 at her first job.
Her mom used to make $15,000 at her first job in 1975.
The CPI today is 231 and the CPI in 1975 was 82.
Purchasing power of Jennifer's mother currently
= $42,256
Jennifer's purchasing power in 1975
= $17,748
Jennifer is currently making more than what her mother could have made if she started working today. Also, she would have earned more than her mother if she had started working in 1975.