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Sloan [31]
2 years ago
7

On June 27, 2021, Cara Van Travel distributed to its common shareholders 510,000 outstanding common shares of its investment in

Constance Noring Pillows. The book value on Van's books of Noring's $1 par common stock was $3.10 per share. Immediately after the distribution, the market price of Noring's stock was $3.60 per share. In its income statement for the year ended June 30, 2023, what amount should Noring report as gain on disposal of the stock (ignore taxes)?
Business
1 answer:
Phoenix [80]2 years ago
6 0

Answer:

The correct answer is $255,000.

Explanation:

According to the scenario, the given data are as follows:

Total outstanding shares = 510,000

Shares value before = $3.10

Shares value after deal = $3.60

So, we can calculate the amount of gain on disposal by using following formula:

Gain amount on disposal = Total number of shares × Difference in share value

By putting the value, we get

= 510,000 × ( $3.60 - $3.10)

= 510,000 × $0.50

= $255,000

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Answer:

Not sure but I think is B. again not sure

Explanation:

3 0
3 years ago
Read 2 more answers
Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: 20Y9
jasenka [17]

Answer:

Accounts receivable for 2019 = $590,000

Accounts receivable for 2018 = $570,000

Explanation:

The computation of accounts receivable for both years is shown below:-

                                2019                      2018

Sales                               $7,906,000        $6,726,000

Accounts receivable

Beginning balance          $600,000            $540,000

Ending balance                $580,000             $600,000

Accounts receivable       $590,000             $570,000

Working note:-

Average Accounts receivable for 2019 = ($600,000 + $580,000) ÷ 2

= $590,000

Average Accounts receivable for 2018 =  ($540,000 + $600,000) ÷ 2

= $570,000

7 0
3 years ago
Reserves consist of the currency in the​ _____ plus the balance on its​ _____ account at​ _____.
k0ka [10]

In the bank vault researve and at a Federal Reserve Bank

5 0
3 years ago
4. Tom Busby owes $20,000 now. A lender will carry the debt for four more years at 8 percent interest. That is, in this particul
bezimeni [28]

Answer:

Tom Busby

His annual payment will be:

= $4,091.64

Explanation:

a) Data:

Loan = $20,000

Interest on loan for 4 years = 8% per annum

Amount of loan after 4 years = $27,200 ($20,000 * 1.360)

Payment period = 12 years

Interest rate during payment period = 11%

b) From online finance calculator:

You will need to pay $4,091 every year for 12 years to payoff the debt at 11% interest.

Monthly Payment $340.97

Annual Payment  $4,091.64

Time Required to Clear Debt 12.00 years

Total of 144 or 12 Payments = $49,099.25

Total Interest $21,899.25

8 0
3 years ago
What are stakeholders
Neko [114]

<u>Explanation:</u>

Stakeholders are the group who show interest in the company and their business or job has impact on the happenings of the company. The stakeholders of the company can be internal stakeholders or external stakeholders. Internal stakeholders have more impact than the external stakeholders.

Internal stakeholders are employees, investors and owners. External stakeholders are outside the company they also get affected due to business decisions. They are suppliers, creditors, and public group.The government, community and trade associations are also included as external stakeholders.

3 0
3 years ago
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