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3 years ago

Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.

Business

1 answer:

azamat3 years ago

3 0

Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

$ millions

Accounts receivable-trade 699

Building and equipment 930

Cash-checking 40

Interest receivable 34

Inventory 25

Land 166

Notes receivable (long-term) 484

Petty cash fund 7

Prepaid rent 28

Supplies 8

Trademark 49

Accumulated depreciation (75)

Allowance for uncollectible accounts (18)

Total Assets 2,377

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$400,000 equity will be the coverage provided for the account.

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A joint account is just another saving account, but the difference is that it is shared between two people, i.e, two people are the owner of that account this is generally shared between two partners or a spouse.

The maximum bandwidth for a joint account is $500,000; but, a margin account only covers the equity, thus the debit balance is deducted from the market value. from deducting the market value of $1 million from the debit balance of $600,00 to leave $400,000 equity.

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2 years ago

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The quantity demanded is 30 units when the price is 60, we use the reconciliation method on the demand line.

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3 years ago

Mensa is a society for "geniuses." one way to qualify for membership is having an iq at least 2.5 standard deviations above aver

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According to the scale, an average person would posses the mean of 100 IQ <span>and standard deviation of 15. If to be a member of mensa one should have </span><span>an iq at least 2.5 standard deviations above average, the minimum iq should be:
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Andy just purchased a 2.5 acre vacant lot of land for $500,000. What was the price per square yard?

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Andy just purchased a 2.5 acre vacant lot of land for $500,000. $41.32 per sq. yd price per square yard.

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What is square yard?

The length times the width, expressed in feet, must be multiplied by 9, and the result is the square yard (SQYDS). A square yard measures 9 square feet.
One billion is referred to as "yard" in finance. The word is derived from "milliard," which is comparable to the number one billion in American English and is used in various European languages.
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1 year ago

Use the chart to answer the questions. Year Potential GDP Real GDP 2017 $18.17 trillion $18.05 trillion 2018 $18.51 trillion $18

sineoko [7]

Answer:

a. Output gap for 2017 = –0.66%

b. Output gap for 2018 = 0.27%

c. From 2017 to 2018, the output gap became more positive.

Explanation:

The following are given in the question:

Year Potential GDP Real GDP

2017 $18.17 trillion $18.05 trillion

2018 $18.51 trillion $18.56 trillion

To calculate output gap in percentage form, the following formula is used:

Output gap = ((Real GDP - Potential GDP) / Potential GDP) * 100 ......... (1)

Therefore, we have:

a. Calculate the output gap for 2017. %

Using equation (1), we have:

Output gap for 2017 = ((18.05 - 18.17) / 18.17) * 100 = –0.66%

b. Calculate the output gap for 2018. %

Using equation (1), we have:

Output gap for 2018 = ((18.56 - 18.51) / 18.51) * 100 = 0.27%

c. From 2017 to 2018, the output gap became more .

Since the output gap in 2017 is negative while the output gap in 2018 is positive; this implies that from 2017 to 2018, the output gap became more positive.

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