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3 years ago

9. The controlling function of management could also be described as (1 point)

Business

1 answer:

svetoff [14.1K]3 years ago

7 0

Answer:

D) evaluation

Explanation:

took the test

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$700 is the amount you pay before insurance pays in excess of that amount

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3 years ago

_____ is the process of acquiring, maintaining, and growing profitable customer relationships by delivering unmatched value.

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This is the goodwill of a business.

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3 years ago

Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $37.50 per share.Prepare Blue's jour

Ulleksa [173]

<u>Complete question:</u>

Fairbanks Corporation purchased 400 shares of Sherman Inc. common stock as an investment in trading securities for $13,200. During the year, Sherman paid a cash dividend of $3.25 per share. At year-end, Sherman stock was selling for $34.50 per share. Prepare Fairbanks's journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment

<u>Solution:</u>

Given,

Total shares = 400

Trading securities = $13,200

Cash dividend = $3.25 per share

Sales price of stock = $34.50 per share

Note: The image attached shows the journal entries of all the transactions.

Dividend revenue is $400\times \$3.25=\$1300$

Fair value adjustment is $[(400\times \$34.50)-\$13,200]$

The above values are entered in the journal transaction.

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3 years ago

Which of the following is not a related party transaction? a) Acme Corporation leases office space to Norton Company. Mr. and Mr

KengaRu [80]

Answer:

c) Beth Teal pays $15,000 a year to her gardener, Ben. Beth is Ben's grandmother.

Explanation:

A related party transaction is any business transaction that takes place between entities that share some type of common interest, e.g. a parent company leasing a factory to one of its subsidiaries. They are legal, but the potential for conflicts of interest exist. Following the example, if the lease price is higher than fair market price, then the transaction could be considered fraudulent. The SEC requires that publicly traded corporations disclose all related party transactions.

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3 years ago

Buffalo Company purchased a heavy-duty truck on July 1, 2014, for $30,360. It was estimated that it would have a useful life of

Kisachek [45]

Answer:

The answer is given below;

Explanation:

Cost of Truck July 1,2014 $30,360

Accumulated Depreciation(30,360-6,480)/10=2,388*4=($9,552)

Written Down Value as at August 1 ,2018 $20,808

Truck New Dr.$42,189

Loss on Old Truck ($20,808-16,699) Dr.$4,109

Accumulated Depreciation Dr.$9,552

Cash Cr.$25,490

Old Truck-Cost Cr.$30,360

There was a loss of $4,109 on old truck as it was traded below its written down value.

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3 years ago