1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
suter [353]
3 years ago
5

On December 30 of the current year, Leigh Museum, a nongovernmental not-for-profit entity (NFP), received a $7 million donation

of Day Co. shares with donor-stipulated requirements as follows: Shares valued at $5 million are to be sold, with the proceeds used to erect a public viewing building. Shares valued at $2 million are to be retained, with the dividends used to support current operations. As a consequence of the receipt of the Day shares, how much should Leigh report as net assets with donor restrictions on its statement of financial position for the current year?
Business
1 answer:
DENIUS [597]3 years ago
8 0

Answer:

$7,000,000

Explanation:

Donor imposed restrictions can be temporary or perpetual; the $5 million in shares are restricted and should only be used for a building and the rest ($2 million) must be kept and their dividends should be used for current operations.

The whole $7 million have restricted uses, therefore they should all be reported as assets with donor restrictions.

You might be interested in
Question 1:
olga_2 [115]

Answer:

D) Store all chemicals in a well-lit, warm area

5 0
3 years ago
During 2015, Wright Company sells 470 remote-control airplanes for $110 each. The company has the following inventory purchase t
Kaylis [27]

Answer:

Cost of Good Sold Using Fifo $40,570

Ending inventory using Fifo $3,600

Ending inventory Using Specific Identification can not be calculated as the total sales (555) exceeds the available inventory (510)  

Explanation:

8 0
3 years ago
Haruto Kawa, a Japanese citizen who works for Shin-Ro Corp. in Japan, has been asked to head the company's sales office in the U
Marianna [84]

Answer:

The correct answer will be "Expatriate".

Explanation:

  • An expatriate seems to be a migrant worker through his or her occupation, a specialist, or maybe even a skilled worker.
  • Expatriate managers could've been characterized because of those who aren’t residents including its country during which individuals work, and were employed because of everyone's specialized operational skills but rather because of about there willingness to employ organization knowledge.
5 0
3 years ago
Lucci Inc. is a retailing firm specializing in high-end merchandise. Each of Lucci's stores uses the retail inventory method by
ludmilkaskok [199]

Answer:

1 Line item description                Cost                Retail

2 Beginning inventory                 40000            360000

3 Purchases                                  1000000        10000000

4 Transportation in                       50000

5 Purchase returns                      -20000          -196000    

6 Net purchases(3+4+5)             1030000        9804000

7 Net additional markups                                    800000    

8 Cost to retail ratio                     1070000       10964000

  component(2+6+7)

9 Net markdowns                                                -500000    

10 Sales                                                                  -9800000    

11 Ending inventory,retail(8+9+10)                       664000

Setup calculation:

Cost to retail ratio = Cost to retail ratio component at cost/Cost to retail ratio component at retail

= 1070000/10964000

= 0.097592

= 9.76%

Ending inventory,cost = Ending inventory,retail*Cost to retail ratio

= 664000*9.76%

= $64806

Cost of goods sold = Sales*Cost to retail ratio

= 9800000*9.76%

= $956480

7 0
2 years ago
Stoneheart Group is expected to pay a dividend of $3.27 next year. The company's dividend growth rate is expected to be 3.4 perc
shepuryov [24]

Answer:

The stock price is $37.16

Explanation:

Dividend Valuation method is used to value the stock price of a company based on the dividend paid, its growth rate and rate of return. The price is calculated by calculating present value of future dividend payment.

Formula to calculate the value of stock

Price = Dividend / ( Rate or return - growth rate )

Price = $3.27 / ( 12.2% - 3.4% )

Price = $3.27 / 12.2% - 3.4%

Price = $3.27 / 8.8%

Price = $37.16

7 0
3 years ago
Other questions:
  • If the United States exports $150 billion of goods and services and imports $100 billion of goods and services and there is no o
    6·1 answer
  • A large manufacturing business has hired you as a fraud detection specialist. The first day on the job your boss tells you she h
    11·1 answer
  • A consumer might read a corporate blog in order to ________.
    7·2 answers
  • received a cheque from Karim,being full settlement of the amount owing after allowing him a cash discount of 5%​
    6·1 answer
  • How does real fingerprint analysis differ from the fingerprint analysis shown on television programs such as CSI?
    8·2 answers
  • Stockholders' equity:________A. Is equal to assets minus liabilities B. Represents the interest of the owners in the assets of a
    15·1 answer
  • ________ refers to focusing part of one's supply chain on a timely response to fluctuating customers orders and/or product varie
    15·1 answer
  • You purchase an annuity due for $1,200. The annuity has 11 annual payments of 100 and a larger payment at the beginning of year
    7·1 answer
  • Since 2009, job growth in the Internet-media sector has increased by what percentage?
    6·1 answer
  • there is a growing emphasis on strategic supply management processes and less on purchase transactions.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!