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musickatia [10]

3 years ago

8

you have a business that is dependent on gas. the price of oil increases significantly. as a result, you will... the price of yo

ur product

1 answer:

Semenov [28]3 years ago

5 0

Increase the price to make more money to be able to afford oil.

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On December 21, 2017, Novak Company provided you with the following information regarding its equity investments.

vodomira [7]

Answer:

(a)

Dr Unrealized Holding Gain or Loss -Equity $1,410

Cr Fair Value Adjustment $1,410

(b)

Dr Cash $9,410

Dr Loss on Sale of Investment $590

Cr Equity Investment $10,000

(c)

Dr Fair Value Adjustment $1,120

Cr Unrealized Holding Gain or Loss-Equity $1,120

Explanation:

(a) Preparation of the adjusting journal entry needed on December 31, 2017.

Dr Unrealized Holding Gain or Loss -Equity $1,410

Cr Fair Value Adjustment $1,410

(To Adjust to Fair Value for 2017)

(b) Preparation of the journal entry to record the sale of the Colorado Co. stock during 2018.

Dr Cash $9,410

Dr Loss on Sale of Investment $590

(20,200- 20,790)

Cr Equity Investment $10,000

($9,410+$590)

(To Record Sale of Stock)

(c)Preparation of the adjusting journal entry needed on December 31, 2018.

Dr Fair Value Adjustment $1,120

Cr Unrealized Holding Gain or Loss-Equity $1,120

(To Adjust to Fair Value for 2018)

Investments Amortized Costs, Fair Value , Unrealized Gain (Loss)

Clemson Corp. stock

$20,200 $19,410 ($790)

Buffaloes Co. stock

$20,200 $20,700 $500

$40,400 $40,110 ($290)

Previous Fair Value Adjustment (Credit)

$1,410

Fair Value Adjustment (Debit)$1,120

7 0

3 years ago

A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $2900. After instal

quester [9]

Answer:

correct option is A. $145

Explanation:

given data

investment cost = $2900

interest rate = 5% per year

solution

formula for present value of perpetuity is

investment cost = fixed cash saving per year ÷ interest rate ..................1

put her value we get fixed cash saving per year that is

saving per year cost = $2900 × 5%

saving per year cost = $2900 × 0.05

saving per year cost = $145

so correct option is A. $145

8 0

3 years ago

A corporation issued $600,000, 10%, 5-year bonds on January 1, 2017 for $648,666, which reflects an effective-interest rate of 7

VashaNatasha [74]

Answer:

correct option is a. $617,911

Explanation:

given data

issued = $600,000

rate = 10 %

time 5 year

amount = $648,666

effective-interest rate = 7%

solution

we get here carrying value so first we get here Interest paid per semiannual period that is

Interest paid per semiannual period = $600000 ×10% × $\frac{6}{12}$

Interest paid per semiannual period = $30000

and

Interest expense on 30 June = $648666 × 7% × $\frac{6}{12}$

Interest expense on 30 June = $22703

and

Interest expense on 30 December = $641369 × 7% × $\frac{6}{12}$

Interest expense on 30 December = $22448

so

Interest expense on 30 June = ($641369 - $7552) × 7% × $\frac{6}{12}$

Interest expense on 30 June = $22184

and

Interest expense on 30 December = ($633817 - $7816) × 7% × $\frac{6}{12}$

Interest expense on 30 December = $21910

so as that we get Carrying value of 1st January that is

Carrying value of January 1 = $633817 - $7816-8090

Carrying value of January 1 = 617911

so correct option is a. $617,911

7 0

3 years ago

Terrance has to make home mortgage payments.What can you Most likely conclude about Terrence based on this fact?

pantera1 [17]

Answer:

D. He has a long term liability.

Explanation:

3 0

3 years ago

What degree do you need for a cosmetologist

Stella [2.4K]

You really don't have to have a degree most of my friends are cosmetologist and they don't have degrees they just have license

4 0

3 years ago