Validity refers to the extent to which the tool measures the relevant aspects of performance

The following account balances were drawn from the financial statements of Grayson Company: Cash $ 5,000 Accounts payable $ 1,55

Anestetic [448]

Answer:

The balance of Common Stock for Grayson Company is $8,300

Explanation:

For computing the common stock value, first we have to compute the ending retained earning balance which is shown below

= Beginning retained earning balance + revenues - expenses

= $3,300 + $10,100 - $7,550

= $5,850

Thus, the ending balance is $5,850

Now by applying the accounting equation we can compute the common stock value

Accounting equation is equals to

Assets = Liabilities + Equity

where,

Assets = Cash + Accounts receivable + Land

= $5,000 + $2,100 + $8,600

= $15,700

Liabilities = Accounts payable = $1,550

And, Equity = Ending Retained earnings balance + common stock

= $5,850 + common stock

Now, apply the above accounting equation which is shown below:

$15,700 = $1,550 + $5,850 + common stock

$15,700 = $7,400 + common stock

So, common stock = $8,300

Hence, the balance of Common Stock for Grayson Company is $8,300

4 0

4 years ago

Gourmet Aroma Coffee House has an exclusive contract with Columbia exporters. Two brands of gourmet coffee are imported, Morning

Marina86 [1]

Answer:

$24,160 favorable

Explanation:

The computation of the total contribution margin sales volume variance is given below:

The Budgeted contribution margin per pound of MT is

= $40 - $20

= $20 per pound

Now the budgeted contribution margin per pound of ET is

= $60 - $30

= $24 per pound

MT's contribution margin sales volume variance is

= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound

= (3960 - 4000) × $20

= $800 Unfavorable

ET's contribution margin sales volume variance is

= (Actual sales quantity - Budgeted sales quantity) × Budgeted contribution margin per pound

= (5,040 - 4000) × $24

= $24,960 favorable

Now the total contribution margin sales volume is

= $800 unfavorable + $24,960 favorable

= $24,160 favorable

8 0

3 years ago

One reason to buy a home instead of rent a home is:

Natali [406]

It’s better to buy a home instead of renting a home because when you rent, your paying someone else’s mortgage! Whereas when you buy a home, you’re paying your own mortgage not someone else’s. It’s also better to buy a house because when you rent, you can’t change anything about the house because it’s essentially not yours. For example, if you wanted to plant s tree in the backyard of your rented house, you wouldn’t be able too because it’s not your yard. Whereas if you bought your house, you could do whatever you want to it because it’s yours.
I hope this helped! :-)

5 0

3 years ago

Read 2 more answers

Under the Fair Credit Reporting Act of 1970 (FCRA), consumers can stop financial institutions from sharing their credit report o

Westkost [7]

Answer:

True

Explanation:

The Fair Credit Reporting Act of 1970 (FCRA) was enacted as a legislation by the U.S. Federal Government to ensure accuracy, fairness, and privacy of consumer information which consumer reporting agencies have in their files. The aim is to ensure that inaccurate information are not intentionally and/or negligently included in the credit report of consumer reporting agencies.

Although, initially when FRCA was passed in 1970, customers does not have the option of preventing sharing of information about them. However, when FCRA was amended in 1996, it allows companies to share among their affiliates different data collected on their customers subject to the provision that customers are allowed to prevent the sharing of the information.

Therefore, under the Fair Credit Reporting Act of 1970 (FCRA), consumers can stop financial institutions from sharing their credit report or credit applications with affiliates.

I wish you the best.

8 0

3 years ago

If the future value of an ordinary, six-year annuity is $8,500 and interest rates are 9.5 percent, what’s the future value of th

vfiekz [6]

Answer:

The future value of the same annuity due is $9307.50

Explanation:

FVA6 = 8500*(1 + 9.5%)

= $9307.50

Therefore, The future value of the same annuity due is $9307.50

3 0

3 years ago