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natta225 [31]
3 years ago
5

When two or more people share an account it is called a joint account. True or false

Business
1 answer:
miskamm [114]3 years ago
5 0

Answer:

true

Explanation:

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Ravine Corporation purchased 30 percent ownership of Valley Industries for $92,700 on January 1, 20X6, when Valley had capital s
Maslowich

Answer:

The Various answers are clearly explained in the Explanations. Thank you.

Explanation:

First, we calcuate the Net Income of Ravine Corporation Based on the FairValue Method

Year    OPerating Income    UnrealizedGain   Dividend inc.   Net Income

20x6   $140,000                  11,000                    6,000                        $157,000

20x7    80,000                     11,000                   12,000                     $103,000

20x8   220,000                     11,000                  12,000                   $243,000  

20x9   160,000                      11,000                  6,000                        $177,000

Kindly note, thta the dividend income for each year is based on 30% of the Dividend of Valley for that year for instance, Dividend income for 20x6 = 0.3 x $20,000 = $6,000

Next we calculate the Net Income of Ravine Corpoartion Under the Equity Method

Year    OPerating Income  Share ofo Income in Valley  Net Income  

20x6   $140,000                   9,000                                    149 ,000                        

20x7    80,000                    15,000                                    95,000                    

20x8   220,000                    3,000                                    223,000                      

20x9   160,000                  12,000                                     172,0000      

NOte as well that the Share of Income in Valley is 30% of the yearly net income of Valley Industries.                

Question B) Part 1

Ravine Corporation Journal Entries

S/N                                       Description                        Debit        Credit

1                                         Cash                                   12,000

                                        Dividend Revenue                                 12,000

Being the record of dividend received from valley industries

2.                                        Fair Value Adjustment       11,000

                             Unrealized holding gain or loss                       11,000    

Being the rcord of fair value change in value of the investments

Question B) Part 2

S/N                                       Description                        Debit        Credit

1                                         Cash                                   12,000

                                        Investment in Valley                               12,000

Being the record of dividend received from valley industries

2.                                        Investment in Valley      3,000

                             Investment Income                                        3,000  

BBeing the share of income of Ravine in Valley

6 0
3 years ago
Workers typically get dirty if they work at a job site for
KengaRu [80]
<span>Workers typically get dirty if they work at a job site for Landfills, Construction sites or in Slaughter Houses</span>
8 0
3 years ago
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Who is president <br> Of the United States of America
Hoochie [10]
Barack Obama is the President of the US
4 0
3 years ago
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The dean of a highly reputed business school has decided to pursue a coveted accreditation for the college. To get the faculty's
natita [175]

Answer:

Consultation.

Explanation:

In the scenario observed in the question, it can be seen that the dean used the consultation tactic.

This tactic can be defined as the influencing leader seeking support from others to influence a group.  This is an effective approach to increase group satisfaction due to the value of democratic decision-making.

The benefits of this technique are described in the question, such as the increased commitment of the faculty, who are now interested in seeing the process succeed and the objective of accreditation fulfilled.

6 0
3 years ago
Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is w
Basile [38]

Answer:

Hilary is a retired teacher who lives in Miami and does some consulting work for extra cash. At a wage of $50 per hour, she is willing to work 10 hours per week. At $65 per hour, she is willing to work 19 hours per week.

Using the midpoint method, the elasticity of Hilary’s labor supply between the wages of $50 and $65 per hour is approximately 2.37 , which means that Hilary’s supply of labor over this wage range is elastic.

Explanation:

Midpoint elasticity = (Change in labor supplied / Average labor supplied) / (Change in wage rate / Average wage rate)

= [(19 - 10) / (19 + 10) / 2] / [$(65 - 50) / $(65 + 50) / 2]

= [9 / (29 / 2)] / [15 / (115 / 2)]

= (9 / 14.5) / (15 / 57.5)

= 0.62/0.26

Midpoint elasticity = 2.37

Once elasticity is greater than 1, supply of labor is Elastic.

5 0
3 years ago
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