Answer:
Kingbird, Inc
Balance Sheet (Partial) as on December 31, 2020
Fixed Assets
Building $1,150,000
Accumulated Depreciation <u>($646,000)</u>
Net book value of Building $504,000
Goodwill $450,000
Coal mine $495,000
Accumulated Depletion <u>($109,000)</u>
Net Value of Coal mine <u>$386,000</u>
Total Fixed Assets <u>$1,340,000</u>
Explanation:
Fixed assets are all those asset which will be kept by the company more than one year. It is not converted to cash / Sold before one year time. If Company has the intention to sale the asset within one year then it will be classified as current asset.
All the assets are classified as the fixed assets. The depreciation and Depletion are contra asset accounts, these are adjusted against the relevant Assets and Net book value of that assets is reported on the balance sheet.
Answer: See explanation
Explanation:
Inflation is when the price level of goods and services increase in an economy.
Since Kansas, is eager to enter the job market at an anticipated annual salary of $54,000 while inflation is 3%, the minimum raise that Chun would need to receive next year would be:
= 3% × $54000
= 3/100 × $54000
= 0.03 × $54000
= $1620
The minimum raise will be $1620, therefore he'll be expecting a salary of $54000 + $1620 = $55620
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Loan Approval is defined as a definite written promise from the appropriate Lender approving the Buyer's Loan in the Loan Amount, subject only to customary underwriting requirements.
<h3>Who is accountable for delivering the loan estimate during the loan approval process?</h3>
- Important information regarding the loan you have sought is provided in the Loan Estimate. Within three business days of receiving your application, the lender is required to give you a Loan Estimate.
- An FHA 203(k) loan can be the ideal rehab loan for you if you want to buy a fixer-upper or need to make modifications to your current home. With an FHA 203(k) loan, you can combine the costs of your renovation and your mortgage into one loan with only one monthly payment.
- A secured loan often includes a lien on the collateral property as well as related title rights. To prove their rightful claim to secured property, a creditor will file a lien. Until the loan is fully repaid, the creditor typically holds the title to the collateral asset.
- A firm and a financial institution, like a bank, enter into a debt-based funding agreement known as a commercial loan. Typically, it is used to finance sizable capital investments and/or pay for operational expenses that the business might not otherwise be able to afford.
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