Answer:
Assets = Liabilities + Stockholder's
Equity
(a) cash = $3,940 Notes payable = $3,940
(short term)
(b) cash = $4,630 Common
stock =$4,630
(c) Equipment = $1000 Notes payable = $800
Cash = (-$200) (short term)
(d) Supplies = $300
Cash = (-$300)
(e) Supplies = $700 Accounts receivable = $700
Answer:
B. sell a "deep in the money" European style call of the stock
Explanation:
The difference between an American style call and a European style call is that the American style can be exercised any time before the expiration date, while the European style call is only exercised at the date of expiration.
The customer in this question, has a pre-defined point in time when he wishes to exit his long stock postion. Therefore he is selling a "deep in the money" European style call of the stock
Answer:
E. We can't be sure how the project is going
Explanation:
This numbers alone are not sufficient information to evaluate the project.
We could be spending less because we saved cash in a part of the project, because there are unpaid expenses which are not due yet. There could a series of factor involving this difference. This is only saying the project has available from their original budget 5,000 more dollars. It could spend this without incurring in additional cash spending. Going beyond this will require some kind of approval from the managers.
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<u>Resuming:</u> the only conclusion from this, is that the project has available 5,000 dollars to spend if necessary. We cannot know if the project is going well or not.
Answer:
Correll Company
a. Yes State R residents who purchased Firm L (out-of-state) merchandise owe use tax on their purchases.
b. State R would collect $1,080,000 additional revenue ($18 million * 6%) if Correll was required to collect the use tax at the point of sale and then remit the tax collected to State R.
Explanation:
a) Data and Calculations:
Cost of merchandise to customers in State R = $18 million
State R's sales and use tax on the purchase and consumption of retail goods within the state = 6%
Amount that Correll could collect for State R = $1,080,000 ($18 million * 6%)
b) Note that Correll (Firm L) collecting the State R use tax does not affect State R residents' legal liability to pay the use tax. Unfortunately, not many people actually remit their self-assessed use tax.
Human capital increase throughout a career because related jobs develop skills for a specific field of work. Humans can develop skills and gain knowledge through the field of work and improve these skills, if they have the passion to develop it.
so c