Answer:
Option D is correct because the only item that relates to Income statement is Sales Revenue of $45000 and the remainder transactions net effect must go to Comprehensive Income statement.
Net effect = - $36k + $28k - $17k -$3.1k = $28.1 Loss
This net effect realized during the year in the Comprehensive Income statement because these transaction does not directly relate to core operation of the entity.
Answer:
Reserve requirement = 40 / 300
Explanation:
Given:
Excess reserve = $5 million
Total deposit = $300 million
Total loan = $255 million
Computation of reserve requirement:
Reserve requirement = (Total deposit - Excess reserve - Total loan) / Total deposit
Reserve requirement = ($300 - $255 - $5) / $300
Reserve requirement = ($300 - $260) / $300
Reserve requirement = ($40) / $300
Reserve requirement = 40 / 300
Answer:
Given:
12% bonds have a face value of $35,000,000
Bonds sold for $37,702,483 based on the market interest rate of 10%.
∴
The interest expense on July 1 can be computed as
Interest expense = Bonds sold × Effective market interest rate ( = 5%)
= $37,702,483 × .05 (1/2 of the effective interest rate)
= $1,885,124
⇒ The interest expense on July 1 is $1,885,124
Answer:
b.$7,172.16 favorable
Explanation:
std rate $ 13.13
actual rate $ 12.20
actual hours 7,712
difference between actual and standart rate $0.93
As it is positive the variance is favorable as we spend less per hour than standard.
Now, we multiply by the actual hours to get the rate variance:
7,712 hours x $0.93 = $7,172.16
Your parents give you a large set of instructions and ask you to watch your brother for the evening. There is no collaboration in this situation.
An agreement between two or more persons to manage a business's operations and divide its assets and liabilities is known as a partnership. In a general partnership corporation, the assets and liabilities are divided equally among all of the partners.
By definition, a partnership firm consists of two or more individuals who pool their resources to create a company and agree to split the risks, rewards, and losses. Examples of common partnership businesses include law firms, medical groups, investment real estate companies, and accountancy groups.
Two or more persons are required. An agreement is required. The firm must distribute its gains. There has to be reciprocal agency.
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