A TAX ON PERFUME IS AN EXAMPLE OF AN. A. INCOME TAX. B. PROPERTY TAX. C.EXCISE TAX. D.STOCK TRANSFER TAX.

1-Elmer invested, P250,000- cash in his new business.<br> analysis <br> debit is - <br> credit is -

castortr0y [4]

Answer:

debit is P250,000

credit is 0

Explanation:

hope it helps:)

4 0

2 years ago

A private not-for-profit entity receives three large cash donations: One gift of $75,000 is restricted by the donor so that it c

kupik [55]

Answer:

$310,000

Explanation:

Calculation to determine the increase in the current year in net assets with donor restrictions

Using this formula

Net assets current year Increase=Restricted gift by donor+Restricted gift to pay salary+Restricted gift withheld+Unspent income earned

Let plug in the formula

Net assets current year Increase=$75,000+$95,000+$125,000+$15,000

Net assets current year Increase=$310,000

Therefore the increase in the current year in net assets with donor restrictions will be $310,000

8 0

2 years ago

Fatuma invests a total of $22,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the

Lesechka [4]

Answer:

$7,500 was invested in the account that gained 15%, while $14,500 was invested in the account that lost 7%.

Explanation:

Given that Fatuma invests a total of $ 22,000 in two accounts, and the first account earned a rate of return of 15% after a year while the second account suffered a 7% loss in the same time period, and at the end of one year the total amount of money gained was $ 110.00, to determine how much was invested into each account, the following calculation must be performed:

11,000 x 0.15 - 11,000 x 0.07 = 880

5,000 x 0.15 - 17,000 x 0.07 = -440

8,000 x 0.15 - 14,000 x 0.07 = 220

7,000 x 0.15 - 15,000 x 0.07 = 0

7,500 x 0.15 - 14,500 x 0.07 = 110

Therefore, $ 7,500 was invested in the account that gained 15%, while $ 14,500 was invested in the account that lost 7%.

8 0

3 years ago

Fuzzy Monkey Technologies, Inc., purchased as a long-term investment $80 million of 8% bonds, dated January 1, on January 1, 202

denis-greek [22]

Answer:

A. 1-Jan-21

Dr Investment in Bond Dr $80.00

Cr To Cash $66.00

Cr To Discount on bond investment $14.00

B.30-Jun-21

Dr Cash $3.20

Dr Discount on bond investment $0.10

Cr To Interest revenue $3.30

C. 31-Dec-21

Dr Cash $3.20

Dr Discount on bond investment Dr $0.11

Cr To Interest revenue $3.31

D. $70 million Due to the change in market conditions

E. CASH FLOW FROM OPERATING ACTIVITIES:

Interest received $7.40 INFLOW

CASH FLOW FROM INVESTING ACTIVITIES:

Cash paid for purchase of investment -$66.00 OUTFLOW

Explanation:

a. Preparation of the journal entry to record Fuzzy Monkey's investment on January 1, 2021.

1-Jan-21

Dr Investment in Bond Dr $80.00

Cr To Cash $66.00

Cr To Discount on bond investment $14.00

(80-66)

(Being to record investment in bond )

b. Preparation of the journal entry by Fuzzy Monkey to record interest on June 30, 2021 (at the effective rate).

30-Jun-21

Dr Cash $3.20

($80 *8% * 6/12)

Dr Discount on bond investment $0.10

($3.30-$3.20)

Cr To Interest revenue $3.30

($66*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

c. Preparation of the journal entries by Fuzzy Monkey to record interest on December 31, 2021 (at the effective rate)

31-Dec-21

Dr Cash $3.20

($80 *8% * 6/12)

Dr Discount on bond investment Dr $0.11

($3.31- $3.20)

Cr To Interest revenue $3.31

[ $66+.1*(10%*6/12) ]

(Being to record revenue recognition for bond interest and discount amortized)

d. Based on the information given Fuzzy monkey will report its investment on December 31, 2021 balance sheet at fair value of the amount of $70 million reason been that we were told that because of the change in the market conditions, the fair value of the bonds at December 31, 2021, was the amount of $70 million.

e. Calculation for How would Fuzzy Monkey's 2021 statement of cash flows be affected by this investment

STATEMENT OF CASH FLOW (PARTIAL)

For 2021

CASH FLOW FROM OPERATING ACTIVITIES:

Interest received $7.40 INFLOW

($3.20+$3.20)

CASH FLOW FROM INVESTING ACTIVITIES:

Cash paid for purchase of investment -$66.00 OUTFLOW

3 0

2 years ago

Fred deposited $1,000 into an account that earns 2 percent, compounded annually. How much money will he have in 5 years? A. $100

mario62 [17]

This situation can be modeled by an exponential equations. Exponential equations typically take the form $y=ab^{x}$ . In an interest problem, a represents the initial deposit, b is the yearly interest rate, x is the number of years, and y is the total amount of money.