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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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Answer:

B)Consult with key competitors about the optimal set of prices to charge, i.e., the prices that will maximize profits for our firm and its competitors.

Explanation:

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3 years ago
Read 2 more answers
After visiting several automobile dealerships, Richard selects the used car he wants. He likes its $10,000 price, but financing
liq [111]

Answer:

A. $3,520

B. $13,520

C. $240 monthly

D. 21.55%

Explanation:

A. Calculation for the total interest

Using this formula

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Let plug in the formula

Interest = (8000)(.11)(4)

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Using this formula

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Let plug in the formula

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Using this formula

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Note 4-year * 12 months will give us 48months

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APR= (2 × n × I) / [P × (N + 1)]

Let plug in the formula

APR = (2 × 12 × $3,520) / [$8,000 × (48+1)]

APR =$84,480/$8,000×49

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