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3 years ago

Xcel when intentional concealment is involved, what course of action is the injured party entitled to?

1 answer:

8 0

Rescission of the contract, which is cancelling the contract and making the parties as close to how they were before the contract started as possible.

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On January 1, 2017, Marin Company purchased 12% bonds, having a maturity value of $320,000, for $344,260.74. The bonds provide t

kap26 [50]

Answer and Explanation:

The Journal entry is shown below:-

1. Debt Investment Dr, $344,260.74

To Cash $344,260.74

(Being cash paid is recorded)

2. Interest Receivable Dr, $38,400

To Debt Investment $3,973.93

To Interest Revenue $34,426.07

(Being interest received is recorded)

Fair Value Adjustment Dr, $1,713.19 ($342,000 -$340,286.81)

To Unrealized Holding Gain or Loss - Equity $1,713.19

(Being fair value adjustment is recorded)

3. Unrealized Holding Gain or Loss - Equity $7928.68

($335,915.49 - $329,700 + $1,713.19)

To Fair Value Adjustment 7,928.68

(Being unrealized loss or gain is recorded)

Working note

Book value of Interest Interest Amortization Book value

debt beginning Revenue Receivable (d = c - d) of debt

(a) b=(a × 10%) c at the end

($320,000 × 12%) (e - d)

$344,260.74 $34,426.07 $38,400 $3,973.93 $340,286.81

$340,286.81 $34,028.68 $38,400 $4,371.32 $335,915.49

8 0

3 years ago

CDB stock is currently priced at $82. The company will pay a dividend of $4.65 next year and investors require a return of 10.9

lidiya [134]

Answer:

g = 0.05229 or 5.229% rounded off to 5.23%

Explanation:

Using the constant growth model of dividend discount model, we can calculate the price of the stock today. The DDM values a stock based on the present value of the expected future dividends from the stock. The formula for price today under this model is,

P0 = D1 / (r - g)

Where,

D1 is dividend in year 1 or the next dividend

g is the growth rate

r is the required rate of return

Plugging in the available values for P0, D1 and r, we can calculate the value of g.

82 = 4.65 / (0.109 - g)

82 * (0.109 - g) = 4.65

8.938 - 82g = 4.65

8.938 - 4.65 = 82g

4.288 = 82g

g = 4.288 / 82

g = 0.05229 or 5.229% rounded off to 5.23%

8 0

3 years ago

Sunland Company gathered the following reconciling information in preparing its July bank reconciliation:

nikdorinn [45]

Answer:

the adjusted cash balance per book is $25,390

Explanation:

The computation of the adjusted cash balance per book is shown below

= Cash balance per books + Notes receivable and interest collected by the bank - Bank charge for check printing - NSF check

= $21,600 + $4,440 - $70 - $580

= $25,390

Hence, the adjusted cash balance per book is $25,390

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0

3 years ago

Ruth executes a will in 2012 naming her nephew stan as sole beneficiary. in 2014, ruth executes another will, naming her niece t

Slav-nsk [51]

Stan and Tammy will share the estate in equal shares. You are able to have as many beneficiaries as you name, due to this and no change in the first will, both will be heirs to the estate. If Ruth were to have revoked the first will, then it would have left Tammy the sole beneficiary.

5 0

3 years ago

The PTA is holding a raffle. The prize is a camera worth $200. Each raffle ticket costs $5. One hundred tickets are sold and a w

Illusion [34]

Expected value of the purchase of a ticket would be $3.00.

<u>Explanation</u>:

Given,

Raffle ticket costs = $5.00.

The prize = $200.

One hundred tickets are sold = 100 × 5

= $500.00

champ is drawn and given the prize of worth $200.

$500 - $200 = $300

So the normal estimation of the bought ticket = $3.00

The expected estimation of the acquisition of a ticket would be $3.00.

5 0

3 years ago

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