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lys-0071 [83]
2 years ago
10

not-for-profit organization held the following investments: Investment Cost Fair value (beginning of year) Fair value (end of ye

ar) Stock A (100 shares) $50 per share $45 $51 Stock B (200 shares) $40 per share $41 $49 What amount of stock investments should be reported in the year-end statement of financial position?
Business
1 answer:
arsen [322]2 years ago
3 0

Answer:

$14,900

Explanation:

not-for-profit organization will report the investments at the fair value of the investments end of year, in the year-end statement of financial position.

Here,

Investment                                   Fair value (end of year)

Stock A (100 shares)                                     $51

Stock B (200 shares)                                    $49

Stock A = (100 * 51) = $5,100

Stock B = (200 * 49) = $9,800

Total Investment fair value at end of year = $14,900

$14,900 will be the amount reported in stock investments in the year-end statement of financial position.

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Which of the following are established by ASC 280 as "enterprisewide disclosure" standards to provide more information about the
rusak2 [61]

Answer:

A. Both II and III

Explanation:

As the major customers information and the geographic areas information would be created by the ASC 280 as disclosure of enterprise wide standard that provide the information more related to the company risk. Also it is needed to the public entities to disclose the information with respect to the operating segments i.e. reportable in the finished financial statements set

Therefore the correct option is A.

8 0
2 years ago
Complete an information-level design for Holt Distributors. General description. Holt Distributors buys products from its vendor
Stolb23 [73]

Answer:

Here are some changes to the textbook requirements that will simplify your work somewhat.

· The transaction requirements give you information on required tables. (page 339-340)

· Assume that ALL orders ship entirely, in other words there are no partial shipments. Either they ship the entire order or they wait until they have all the required units and then ship.

· Do not include the Customer PO information

Explanation:

4 0
2 years ago
Mrs. Lu is turning 65 in November and called to ask for your help deciding on a Medicare Advantage plan. She agreed to sign a sc
arlik [135]

Answer:

I may provide her with the required enrollment materials and take her completed enrollment application

Explanation:

Since Mrs. Lu called to asked for my help in deciding on a Medicare Advantage plan in which She agreed to sign a scope of appointment form, this means when we finally meet for the appointment which was schedule for October 15 which is a month before her 65 birthday (November), I may provide her with all the required, important and necessary enrollment materials in which after she might have completed the enrollment materials i gave to her , I will collect the completed enrollment application from her for further processing.

5 0
3 years ago
Opal Corporation, an accrual method, calendar year C corporation, was formed and began operations on July 1, 2019. The following
IceJOKER [234]

Answer:

The correct answer to the following question will be "$5427".

Explanation:

The given expenditures are:

Temporary director's as well as organisational meetings expenditures = $8000

Fee payable to either the incorporation province  = $2000

Incident accountants for organisation  = $3500

Legal resources and by-laws for writing the company charter = $4300

So that total qualifying expenses will be :

⇒  $17,800

Now,

Deduction regarding section 248 election:

Immediate expensing = $5000

Amortization = \frac{(total \ qualifying \ expenses-immediating \ expensing )}{180\times 6}

On putting the values in the above formula, we get

⇒                   = \frac{(17800-5000)}{180\times 6}

⇒                   = $427

Hence the deduction on election regarding section 248 = $5,427

5 0
3 years ago
A borrower took out a 30-year fixed-rate mortgage of $2,250,000 at a 7.2 percent annual rate. After 10 years, he wishes to pay o
Nastasia [14]

Answer:

$2,122,426

Explanation:

The computation of the amount that must to pay for the retirement of the mortgage is given below:

But first we have to determine the monthly payment i.e. PMT by using excel function

PV=-$2,250,000

RATE = 7.2% ÷ 12 = 0.6%

N = 12 × 30 = 360

FV = 0

PMT = $15,272.73

Now we have to determine the future value  

Given that

PV=-$2,250,000

RATE = 7.2% ÷ 12 = 0.6%

N = 12  × 5 = 60

PMT = $15,272.73

So,  FV  = $2,122,425.62

5 0
2 years ago
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