Answer:
Temporary, Capital
Explanation:
The reason is that temporary accounts include income, expenses and dividends accounts. These accounts are set to zero after an accounting period and all the differences goes to retained earnings which is capital in nature. The accounts which are assets, capital and liability in nature are called permanent accounts because these accounts are not nullified at the end of the period.
Answer:
A) FNMA is owned by the U.S. government.
Explanation:
Federal National Mortgage Association (FNMA) also commonly referred to as "Fannie Mae" is a government-sponsored enterprise (GSE) that provides services such as purchasing mortgages from lending institutions so as to expand the secondary mortgage market or effectively boost affordable lending activity at the lending institutions. It was founded as part of the "New deal" during the Great Depression in 1938.
All of the following statements regarding the Federal National Mortgage Association (FNMA) are true;
1. FNMA pass-through certificates are not guaranteed by the U.S. government.
2. Interest on FNMA certificates is taxable at all levels.
3. FNMA stock is publicly traded on the NYSE.
<em>However, it is false or incorrect to say that the FNMA is owned by the United States of America (USA) government.</em>
The Federal National Mortgage Association (FNMA) is only being sponsored by the U.S government under the umbrella of the Federal Housing Finance Agency (FHFA).
Answer: 28%
Explanation:
First, we have to make an assumption that the initial wealth is 100, then the weight of the risk free asset will be:
= Amount invested in risk free / Initial wealth
= -100/100
= -1
The weight of the portfolio will be calculated as:
= 1 - weight of risk free asset
= 1-(-1)
= 1 + 1
= 2
Therefore, the expected return on the resulting portfolio will be:
= 2 × 16 + [(-1) × 4]
= 32 - 4
= 28
Answer:
B) debit supplies Expense, $5, 200 credit supplies. $5, 200.
Explanation:
When supplies are purchased, he entries posted are debit supplies account and credit cash or accounts payable account.
When supplies are used up, the amount of supplies used is credited to the supplies account and debited to the supplies expense account.
This reduces the book balance in the supplies account to what is physically available.
Quantity used up = $7,000 - $1,800
= $5,200
Answer:
Break-even point in units= 770
Explanation:
Giving the following information:
Selling price= $500
Unitary variable cost= $260
Fixed costs= $184,800
<u>To calculate the break-even point in units using the mathematical equation, we need to use the following formula:</u>
<u></u>
Net income= unit contribution margin*x - fixed costs
x= number of units
0= (500 - 260)*x - 184,800
184,800/240 = x
770=x
<u>Now, under the unit contribution margin method:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 184,800/240
Break-even point in units= 770
