Prepare a monthly and yearly budget for Bill and Maura Jones based on the following information. They plan

Make balance sheet

iren [92.7K]

Answer:

Balance Sheet as at year end

ASSETS

Cash (5000 + 600 - 800 - 2000) $2,800

Trade Receivable ( -600) ($600)

TOTAL ASSETS $2,200

EQUITY AND LIABILITIES

EQUITY

Retained Earnings (5000 -800 - 2000) $2,200

TOTAL EQUITY $2,200

LIABILITIES

Liabilities $0

TOTAL LIABILITIES $0

TOTAL EQUITY AND LIABILITIES $2,200

Explanation:

The Balance sheet contains balances of Assets, Liabilities and Equity as at the Reporting date.

So given the above transactions above, we have to identify which accounts (Assets, Liabilities or Equity) are affected by each transaction, than record under the relevant heading as shown in the solution.

7 0

2 years ago

Holden is a people person. He is very good at working with customers and keeping a positive attitude. He has taken a couple clas

aleksandr82 [10.1K]

With the given information, I assume that Holden works in financial services, probably in the sales side of the company. This could be investments or a commercial bank.

8 0

3 years ago

"3. For this question only, assume that on January 2, 2018, Pops, Inc. acquired 192,000 shares of Son Corp. at a cost of $10 per

NISA [10]

Answer:

The investment in Son Corp. should be reported on Pops' December 31, 2018 balance sheet at $1,920,000 ($10 * 192,000).

Explanation:

There is no indication that the fair price of the shares of Son Corp. has changed from its original cost of $10. Therefore, the investment in Son Corp. can only be reported on the balance sheet of Pops' at the cost price on acquisition. But, assuming that the price has fluctuated over the period, the investment would have been valued at the current market price multiplied by the number of shares.

3 0

3 years ago

True or False & Why? “Every time price goes up, demand goes up and every time price falls, demand falls too, and so on ad in

deff fn [24]

Answer: ▶False◀

Explanation:▶ realistically when prices fall, demand goes up. This is because everyone would buy something that cost less, than something that is expensive. Now when prices go up, demand usually goes down. This is because the consumer wouldn't want to buy something from ( ex:) retailer 1, who's products are too expensive. Than retailer 2, who's prices are very reasonable. People wouldn't want to demand something that has a price going up and up.

//Give thanks(and or Brainliest) if helpful (≧▽≦)//

8 0

2 years ago

You bought one of Lambert Sandblasting Company's 15-year bonds one year ago for $960. These bonds pay 7 percent annually, have a

maksim [4K]

Answer:

Real return on investment: 22.9465%

Explanation:

Okay let's explain each concept we have given:

Face Value $1,000

This is the ammount Lambert will pay at maturity

Purchase Value $ 960

This is the Ammount we pay for the bond

Market Value of the bond today $ ???

This is what we need to determinate to see the return we got

Once we got the market Value we will do:

Market Value / Purchase Value - 1 = rate of return

Now the market value today will be the present value of the bond, and the bond has the following data:

Mature in 14 year

bond rate 7% annualy.

So each year we receive the 7% of the face value ($1,000) = $70

And at the end of the bond life we receive 1,000

We need to bring this numbers at present day using the real market rate, because the economy is having inflation:

market rate 8%

inflation rate 2.7%

real rate:

(1+rate)/(1+inflation) -1 = real rate

$\frac{1.08}{1.027} -1 = real rate$

real rate = 5.16%

To know the present value of the bond we will have to consider:

present value of an annuity of 70$ during 14 year at a rate of 5.16% =
present value of the 1,000 that will be pay at maturity at a rate of 5.16%

The annuity will be

$70 * \frac{1-(1+0.0516)^-14}{0.0516} = 685.87$

$C * \frac{1-(1+rate)^-time}{rate} = present value$

$685,87

The present value of the 1,000 will be

face value/(1+rate)^time

1,000/(1+0.0516)^14 = $494,42

for a total of $1.180,29

Now we will calculate the real return on the investment:

we receive 1.180,29 for 960 so the rate is

1.180,29 /960 - 1 = 0.229465 = 22.9465%

8 0

3 years ago