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Mrac [35]
3 years ago
9

Bethea Financial Services had a debit balance of $32,217 in their Fair Value Adjustment account on December 31, 2020. Based on t

he valuation of their equity securities on December 31, 2021, they should have a net unrealized gain of $46,398. Based on this, they should ________ Fair Value Adjustment for ________.
Business
1 answer:
kaheart [24]3 years ago
5 0

Answer:

Debit

$14,181

Explanation:

Given:

Fair Value Adjustment account = $32,217 (Debit)

Net unrealized gain = $46,398 (Credit)

According to Fair Value Adjustment account , Debit balance is lower than Credit balance, So they should Debit (Fair Value Adjustment account)

Debit amount = Net unrealized gain - Fair Value Adjustment account

Debit amount = $46,398 - $32,217

Debit amount = $14,181

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Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due
Nadya [2.5K]

Complete Question:

Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of?

Group of answer choices

A. expected merchandise

B. sample merchandise

C. staple merchandise

D. seasonal merchandise

E. fashion merchandise

Answer:

C. Staple merchandise.

Explanation:

In this scenario, Smart Wash is a popular brand of detergent powder. The stock needs to be continuously replenished in stores and supermarkets due to its high demand. The detergent powder belongs to the category of staple merchandise.

A staple merchandise typically comprises of finished goods, which are regularly being purchased, displayed and sold by the retailers in order to meet the need or want of the consumers. Some examples of staple merchandise are detergent powder, bread, milk, egg, butter, salt, sugar etc.

4 0
2 years ago
A house sold for $950,000 with a sales commission rate of 7.5%. The listing brokerage received 50% of the total commission and t
aleksandrvk [35]

Answer:$14,250

Explanation:

The total commission recieved is

950,000 x 7.5% = $71,250

The listing brokerage and the selling brokerage both received 50% of that sum which is

71,250/2 = $35,625

The Sales person gets 40% of the Selling brokerage's cut which would be

35,625 x 40% = $14,250

8 0
3 years ago
Suppose that marginal income tax rates are as follows:Income level Marginal tax rate $0–$10,000 10% $10,000–$50,000 20% Greater
Tatiana [17]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

7 0
3 years ago
What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemploymen
Oksanka [162]

Answer:

c. to eliminate unemployment,B. to promote price stability and F. to control federal spending

Explanation:

8 0
3 years ago
During 2015 Lopez Corporation reported net sales of $3,200,000 and net income of $1,200,000. Its balance sheet reported average
Sholpan [36]

The asset turnover is 2.4 times.

Asset turnover  = Net sales \div Average total assets

Asset turnover  =  $3,000,000 \div [  $1,000,000 + $1,500,000 ] \div 2

Asset turnover  =  2.4 times

Asset turnover is the ratio of total sales or revenue to average assets. This metric helps investors understand how effectively companies are using their assets to generate revenue. Investors use asset turnover to compare similar companies in the same industry or group.

In the retail sector, an asset turnover of 2.5 or higher may be considered good, but in the utility sector, a company is more likely to aim for an asset turnover between his 0.25 and 0.5.

Learn more about asset turnover at

brainly.com/question/13401474

#SPJ4

8 0
2 years ago
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