Who is he and what’s his product

A higher earnings per share (eps) does not necessarily translate into a higher stock price

nikdorinn [45]

This doesn't seem to be a question, but rather, a statement.

4 0

3 years ago

Tanner-UNF Corporation acquired as a long-term investment $200 million of 7% bonds, dated July 1, on July 1, 2018. The market in

likoan [24]

Answer:

1. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2018 and interest on December 31, 2018, at the effective (market) rate.

July 1, investment in UNF bonds

Dr Investment in bonds HTM 200,000,000

Cr Cash 160,000,000

Cr Discount on bonds 40,000,000

December 31, interest revenue from investment in bonds

Dr Cash 7,000,000

Dr Discount on bonds 200,000

Cr Interest revenue 7,200,000

Discount on bonds = ($160,000,000 x 4.5%) - ($200,000,000 x 3.5%) = $7,200,000 - $7,000,000 = $200,000

2. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2018, balance sheet.

Investment in bonds HTM = $200,000,000 (face value) - $39,800,000 (discount on bonds) = $160,200,000

Changes in the market value of bonds held to maturity are not considered by the company.

4. Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2019, for $310.0 million. Prepare the journal entry to record the sale.

Dr Cash 150,000,000

Dr Dr Discount on bonds 39,800,000

Dr Loss on investment in bonds HTM 10,200,000

Cr Investment in bonds HTM 200,000,000

3 0

3 years ago

Cash is difficult to protect because it is easy to transfer and its ownership difficult to prove. These statements are?.

Arte-miy333 [17]

The following are some causes for a bank balance to differ from a company's balance: Deposits in transit, Charges for printing checks and bank services, Accounting mistakes at the business.

<h3>What are financial statement audits mostly focused on?</h3>

In a financial statement audit, the auditor is able to determine with a reasonable degree of assurance whether there are no major misstatements in the financial statements.
Cash can easily stolen or misplaced. As a result, it's critical to put internal controls in place to protect these assets and ensure that only authorized individuals have access to them.
A fundamental internal control process is to deposit all cash receipts in the bank as soon as possible. Cash receipts are frequently deposited by businesses each day.
The following are some causes for a bank balance to differ from a company's balance: Deposits in transit, Charges for printing checks and bank services, Accounting mistakes at the business.

To learn more about Accounting mistakes at the business refer to:

brainly.com/question/25671660

#SPJ4

4 0

1 year ago

At December 31, 2019, Swifty Corporation reported the following as plant assets.

Kay [80]

Answer:

April 01 2020

Land Debit $ 2,200,000

Cash Credit $2,200,000

To record purchase of land

May 01 2020

Cash Debit $ 504,000

Allowance for depreciation equipment Debit $ 363,720

Equipment Credit $ 840,000

Gain on sale of equipment Credit $ 27,720

To record sale of equipment and to recognise gain on sale

June 01 2020

Cash Debit $ 1,450,000

Land Credit $ 399,000

Gain in sale of land Credit $1,051,000

To record sale of land and gain on the sale

July 01 2020

Equipment Debit $ 2,480,000

Cash Credit $ 2,480,000

To record purchase of equipment

December 31 2020

Allowance for depreciation Debit $ 491,000

Equipment Credit $ 491,000

To record retirement of equipment

The adjusting entry for depreciation is as follows:

December 31 2020

Depreciation expense - Equipment Debit $ 4,985,000

Depreciation expense - Buildings Debit $ 578,200

Allowance for depreciation - Equipment Credit $ 4,985,000

Allowance for depreciation - Buildings Credit $ 578,200

Explanation:

Computation for Depreciation expense for the year

Equipment Jan 01 2020 $ 48,670,000 for 4 months @ 10 %

Sales - May 01 2020 $( 840,000)

Adjusted balance May 01 2020 $ 47,830,000 for 2 months @ 10 %

Purchases July 01 2020 $ 2,480,000

Adjusted balance July 01 2020 $ 50,310,000 for 6 months @ 10 %

Depreciation expense for 4 months = $ 48,670,000*10 % *4/12 = $1,622,333

Depreciation expense for 2 months = $ 47,830,000*10 % *2/12 = $ 797,167

Depreciation expense for 6 months = $ 51,310,000*10 % *6/12 =$ 2,565,500

Total depreciation equipment $ 4,985,000

Depreciation on buildings $ 28,910,000 * 2 % $ 578,200

Depreciation has to be recorded for full year on assets retired on December 31 2020

Computation of gain and loss on sale of equipment

Cost of equipment purchased on January 1 2016 $ 840,000

Depreciation rate 10 %

Equipment sold on May 01 2020

Depreciation charged for 4 years and 3 months @ 10 %

$ 840,000 * 4.33 *10 % $ 363,720

Net book value of equipment disposed on May 01 2020 $ 476,280

Sale value of equipment $ 504,000

Gain on sale of equipment $ (27,720 )

The gain on sale of land is the difference between the cost and sales proceeds since land is not depreciated

Sale proceeds - Cost = $ 1,450,000 - $ 399,000 = $ 1,051,000

The assets that was retired on Dec 31 2020 was purchased on December 31 2010 and was considered for depreciation for 10 years and was fully depreciated and had ni book value on the date of retirement

6 0

3 years ago

Virtually every business has variable expenses, which move up and down in tight proportion with changes in sales volume or sales

TiliK225 [7]

Answer and Explanation:

Dynamic expenses are pointed to as operating expenses that are the production cost and important to run a business.

common example of the variable cost that depends on sales volume.

The cost of goods sold, that is the equivalent of goods sold to consumers.

Commissions charged from their selling to salespersons.

Fees charged by a company when a customer requires a credit or debit card.

so, we say that when a business increase or decrease their sale volume, their variable cost also gets affected.

3 0

3 years ago