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4 years ago

The grant available to third-or fourth-year college students majoring in

Business

1 answer:

Marrrta [24]4 years ago

5 0

<u>The grant available to third-or fourth-year college student:</u>

The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant) is the grant given to the third or fourth year college students who want to do major in scientific or mathematical fields like physical, life, engineering, mathematics, medical, languages, etc.

To apply for the SMART grant students apply through free application of federal student aid and then if they receive the grant they can do their higher studies in their preferable fields which come under SMART grant.

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A financial institution that accepts deposits, makes loans, and provides other

Pepsi [2]

Answer:

B. depository institution.

Explanation:

Depository financial institutions provide customers with a wide range of financial services. They accept customer's deposits, issue loans, process checks, facilitate local and international payment, among others.

Depository financial services comprise commercial banks that are profits oriented and not-for-profit institutions such as credit unions and thrift institutions. Commercial banks charge a higher interest rate on loan issued than credit unions. However, banks can issue bigger loans than credit unions.

6 0

3 years ago

Read 2 more answers

Equipment that cost $411000 and on which $194000 of accumulated depreciation has been recorded was disposed of for $173000 cash.

ANTONII [103]

Answer:

Given that,

Cost of equipment = $411,000

Accumulated depreciation = $194,000

Dispose accumulated depreciation for cash = $173,000

The Journal entry is as follows:

Cash A/c Dr. $173,000

Accumulated depreciation A/c Dr. $194,000

Loss in Disposal A/c Dr. $44,000

To Equipment a/c $411,000

(To record the accumulated depreciation and dispose off.)

Loss in Disposal:

= Cost of equipment - Accumulated depreciation - Dispose accumulated depreciation

= $411,000 - $173,000 - $194,000

= $44,000

6 0

4 years ago

Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on interna

MissTica

Answer and Explanation:

The SoX sarbanes oxley act of 2002 was enacted to address company fraud that was exemplary of Eron and worldcom and bring back the confidence held in the financial market

It was meant to increase the effectiveness of internal control in companies in keeping accounting records or financial reports reliable and fraud-proof. The SOX act increased the independence of company auditors making their reports more reliable as they didn't have to compromise because they were dependent on top managers. In addition top managers were held responsible for any fraud in accounting statements and so were to certify the reliability of reports released to the public

4 0

4 years ago

Bassett Fruit Farm expects its EBIT to be $377,000 a year forever. Currently, the firm has no debt. The cost of equity is 13.3 p

skelet666 [1.2K]

Answer:

$1,729,098

Explanation:

Given that,

EBIT = $377,000

No debt.

Cost of equity = 13.3 percent

Tax rate = 39 percent

Value of issuing bonds at par = $2.7 million

Coupon rate = 6.5%

Therefore,

Unlevered value of the firm:

= [EBIT × (1 - Tax rate)] ÷ Cost of equity

= [$377,000 × (1 - 0.39)] ÷ 0.133

= $229,970 ÷ 0.133

= $1,729,098

4 0

3 years ago

Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been a

Fudgin [204]

Answer:

Dr Fees earned $1,150,000

Dr Retained earnings - Bal. Fig. $16,200

(1,166,200-1150000)

Cr Rent expense 200,000

Cr Supplies expense 19,300

Cr Wages expense 915,000

Cr Miscellaneous expense 31,900

May-31

Dr Retained Earnings 5,000

Cr Dividends 5,000

Explanation:

Preparation of the closing entries required to close the accounts.

May-31

Dr Fees earned $1,150,000

Dr Retained earnings - Bal. Fig. $16,200

(1,166,200-1150000)

Cr Rent expense 200,000

Cr Supplies expense 19,300

Cr Wages expense 915,000

Cr Miscellaneous expense 31,900

(To close the Expenses )

May-31

Dr Retained Earnings 5,000

Cr Dividends 5,000

(To close the dividends )

5 0

3 years ago