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g100num [7]
3 years ago
6

The Borio Company had an asset with an $8 book value and a $7 market value; it decided to distribute the asset as a property div

idend. Journal entries were made to adjust the property to market value and declare the dividend. Indicate the combined effect on the Net Income and Total Assets, respectively:
Business
1 answer:
ankoles [38]3 years ago
7 0

Answer:

The net income will decrease and also the total assets will also decrease

Explanation:

Here, we want to know the combined effect on net income and total assets of company that made a decision of distributing assets as a property dividend.

As the asset value is down the entry is asset (credit) and loss on asset (debit)

This will effect the net income as it will come down and total assets value also come down

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The safe-harbor provision:​ a. ​none of the above b. ​is part of SOX. c. ​provides lawyers with protection from "up the ladder"
olga nikolaevna [1]

Answer:

The correct answer is letter "A": none of the above.

Explanation:

The safe-harbor law is a regulation that helps defendants to be found not liable on certain situations under certain conditions where according to strict law they were to be responsible. Most of the time, in cases where the law is so unclear or unknown, defendants can be subject to the safe-harbor provision for their liabilities to be forgiven.

5 0
3 years ago
You could spend four years studying at the world's best university, but you would have to keep your attendance there a secret. O
horrorfan [7]

Answer:

The best future earnings outcome would come from getting the official degree even if you do not attend any classes.

In the labor market, a degree from the world's best university holds great prestige and increases enormously the possibilities of being hired to high-paying jobs. However, you should make sure that you actually take the courses that you are supposed to have learned while "attending".

The other option is worse because while you would easily be able to demonstrate knowledge and competence, few companies would even consider to hire you if you do not hold a degree.

6 0
3 years ago
Give a concrete example of how the type of college you choose can impact your total costs.
Zanzabum

Answer:

Because you chose to go to college instead of working, your opportunity cost is actually the sum of your college expenses plus the money you could have earned had you chosen not to work.

Explanation:

There are five main categories of expenses to think about when figuring out how much your college education is really going to cost: tuition and fees, room and board, books and supplies, personal expenses, and transportation. You can control some of these costs to some extent.

7 0
3 years ago
Christiansen and Sons' flexible budget for 10,000 units of production includes $50,000 for direct materials, $44,000 for direct
kenny6666 [7]

Answer:

Direct materials of $60,000, direct labor of $52,800, utilities of $6,000, and supervisor salaries of $15,000.

Explanation:

For 10,000 units:

Direct materials (DM) = $50,000

Direct labor (DL) = $44,000

Utilities (U) = $5,000

Supervisor salaries (S) = $15,000.

For 12,000 units:

Direct materials (DM):

DM=\$50,000*\frac{12,000}{10,000}\\DM = \$60,000

Direct labor (DL):

DL=\$44,000*\frac{12,000}{10,000}\\DL = \$52,800

Utilities (U) = $5,000

U=\$5,000*\frac{12,000}{10,000}\\U = \$6,000

Supervisor salaries (S) = $15,000.

Salaries don't rely on production volume and, thus, should stay the same.

5 0
3 years ago
A Virginia county is considering whether to pay $50,000 per year to lease a prisoner transfer facility in a prime location near
Mice21 [21]

Answer:C. $50,000

Total revenue would be $300,000. Total cost would be $250,000 (fixed = $50,000; variable = $200,000).

Explanation:

4 0
3 years ago
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