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
seropon [69]
3 years ago
10

Bowie Glass purchased 17,000 shares of Lenz Framing common stock for $382,500 in 2016. When they created their December 31, 2016

balance sheet, the shares had a fair value of $373,150. On July 3, 2017, Bowie Glass sold all of the Lenz Framing stock for $27.25 per share less $15,000 in brokerage commission. In their 2017 financial statements, Bowie Glass should report
Business
1 answer:
12345 [234]3 years ago
3 0

Answer:

It should recognize a gain for 75,100 on his investment.

Explanation:

27.25 x 1,700 = 463,250

commision         (15,000)

net realizable value 448,250

book value              (373,150)

gain on investment   75,100

Cash 448,250

                 Lenz Framing Investment 373,150

                 Gain on investment             75,100

You might be interested in
You have been pricing an MP3 player in several stores. Three stores have the identical price of $500. Each store charges 24 perc
Alja [10]

Answer:

Store A = $9

Store B = $8

Store C = $10

Explanation:

Finance charges calculated by average daily balance finance charges basis, adjusted balance method finance charges basis and Previous Balance Method Finance Charge basis is calculated as follows

Store A:

Average Daily Balance Finance Charge basis = ($500 + $400) /2

Average Daily Balance Finance Charge basis = $450

Finance Charges = $450 x (24% / 12)

Finance Charges = $9

Store B:

Adjusted Balance Method Finance Charge basis = $500 - $100

Adjusted Balance Method Finance Charge basis = $400

Finance Charges = $400 x (24% / 12)

Finance Charges = $8

Store C:

Previous Balance Method Finance Charge basis = $500 - $0

Previous Balance Method Finance Charge basis = $800

Finance Charges = $500 x (24% / 12)

Finance Charges = $10

3 0
3 years ago
The cost performance index (CPI): a. can be used to estimate the projected cost of completing the project. b. indicates that the
Evgen [1.6K]

Answer:

The correct answer is letter "A": can be used to estimate the projected cost of completing the project.

Explanation:

The Cost Performance Index or CPI measures the projected cost of work completed compared to the current cost spent. The CPI represents a ratio of earned value to actual cost. If the CPI is greater than one, the project is under budget. When the CPI equals one the planned and actual costs are equal. If the CPI is higher than one, the project is over budget.

3 0
3 years ago
When a company discontinues an operation and disposes of the discontinued operation (component), the transaction should be inclu
Ne4ueva [31]

Answer:

1. an amount after continuing operations.

Explanation:

In preparing the income statement the transactions resulting into gain or loss from the discontinued operations are always reported in income statement.

For this there is special heading that is

Amount after continuing operations

This basically reflects the gain or loss from the sale of such segment.

This provides for reporting all the transactions as part of business but in an highlighted manner.

4 0
3 years ago
The following information pertains to JAE Corp. at January 1, 2018:
son4ous [18]

Answer:

Issued shares =5000

Outstanding shares = 4700

Explanation:

Jan-1 Issued shares = 2000 shares

During year 3000 shares were issued.

a.) Outstanding shares =?

we know that Outstanding shares = issued stock -repurchased shares- treasury stock

                =   2000+3000-500+200

                = 4700 shares.

b.) Shares of common stock issued=?

     Number of issued shares = 2000+3000 = 5000 shares.

    Number of outstanding shares will always be less than issued shares.

8 0
3 years ago
Ellen and Fred work on the loading dock for Grange Storage. Ellen, who has a disability, requests a transfer, which would repres
Leya [2.2K]

Answer:

Fred's seniority is a good defense for Grange

Explanation:

Based on the situation at hand and the details provided within the question it can be said that in Ellen’s suit against Grange for discrimination, most likely Fred's seniority is a good defense for Grange. Since Fred has been working at Grange Storage for a long time then Fred also has a right to claim that opening for himself.

If you have any more questions feel free to ask away at Brainly.

8 0
3 years ago
Other questions:
  • Gold Peak is a brand of iced tea introduced by Coca-Cola North American and intended to taste like the tea ""Mom used to brew.""
    8·1 answer
  • The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale
    7·1 answer
  • Where do banks get money to lend to borrowers??​
    5·2 answers
  • Suppose a monopolist's costs and revenues are as follows: ATC = $50.00; MC = $35.00; MR = $45.00; P = $55.00. The firm should
    11·1 answer
  • On January 1, Year 1, Barrett, Inc., purchased equipment and signed a note agreeing to pay $100,000 on December 31, Year 3. The
    7·1 answer
  • Top executives at McCain Ericsson Bank have taken up business process reengineering to improve the standards of the organization
    15·1 answer
  • What is job description​
    9·1 answer
  • Over 50% of Americans have no long-term savings. Why do you think it's so
    15·1 answer
  • Why is it important to understand which insurance network you are in
    8·1 answer
  • How will the rapo rate cut affect the economy?​
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!