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Romashka-Z-Leto [24]
3 years ago
7

On December 31, 2020, Coolwear, Inc. had a balance in its prepaid insurance account of $65,400. During 2021, $103,000 was paid f

or insurance. At the end of 2021, after adjusting entries were recorded, the balance in the prepaid insurance account was $50,500. Insurance expense for 2021 was
Business
1 answer:
agasfer [191]3 years ago
6 0

Answer:

Insurance expense 2021 = $117900

Explanation:

The insurance expense for the year can be calculated by adding the value of the amount paid for insurance during the year in the value of prepaid insurance at the start of the year and deducting the value of the prepaid insurance at the end of the year. Thus, insurance expense for the year will be,

Insurance expense = Opening balance  +  Payment during the year  -  Closing balance

Insurance expense 2021 = 65400  +  103000  -  50500

Insurance expense 2021 = $117900

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On January 1, 2016, American Corporation purchased 25% of the outstanding voting shares of Short Supplies common stock for $232,
gregori [183]

Answer:

$247,625

Explanation:

Expectation: To compute the amount to be reported in the investment on American Corporation's Financial Statements - December 31st, 2016

Step 1: American Corporation purchases of Short Supplies = $232,500

This represents 25% of the outstanding voting shares of Short Supplies.

Short Supplies net income was $89,000

Therefore, American Corporation's share of net income = 25% x $89,000

= $22,250. This is the reported income as a result of the voting shares bought.

Secondly, since cash dividend was paid (paid before the declaration of the net income), then American Corporation as an investor is also entitled to the 25% of the dividend

Therefore,

The final amount of total investment of American Corporation to be reported in the financial statement is

The value of the initial stock purchased + Share of net Income - Cash dividend due.

= $ 232,500 (original investment) + $22,250 (share of net income) - ($7,125) Cash dividend

= $247,625

8 0
3 years ago
A company borrows 100,000 today at 12% nominal annual interest. the monthly payment of a 5 year loan is most nearly:
alex41 [277]
Formula for the monthly payment:
M = P * r * ( 1 + r )^n / (( 1 + r )^n + 1 )
where:  P = $100,000    r = 0.12 : 12 = 0.01      n =12 * 5 = 60
M = 100,000 * 0.01 * ( 1 + 0.01 )^60 / (( 1 + 0.01 )^60 + 1 ) =
= 1,000 * ( 1.01 )^60 / (( 1.01 )^60 + 1 ) =
= 1,000 * 1.8167 / 0.8167 = 1,000 * 2.22444  =
= $2,224.44
The monthly payment is $2,224.44.
5 0
3 years ago
Assess the benefits and drawbacks of the high-speed rail project. In your opinion, do benefits outweigh drawbacks, or vice versa
Andrews [41]

Answer:

The benefits of a High Speed Rail in California:

  • It becomes a feasible alternative to air travel, because it can be either cheaper, or even faster, since passengers do not have to spend as much time on a train station as they do on an airport.
  • If demand is high enough, state highways can become less congested, because many people who would otherwise travel by car, would take a high speed train instead.
  • Because the trains are electric, they are likely to help reduce pollution.

The cons would be:

  • We cannot know for sure how many people would take the high speed trains. Demand could not be high enough to justify the cost.
  • The line would be very costly.
  • It could end up benefit only a small section of the population who would take the trains, or who travel often.

I believe that the benefits outweigh the drawbacks, as can be seen in most countries where high speed lines have been made between large cities. For example, in Spain, the line between Madrid and Barcelona is profitable. The same would likely happen for a line between Los Angeles and San Francisco.

What are the implications of starting a project based on tenuous projections that may or may not come true 10 years from now?

If demand projections are tenous, there is always the possiblity that the high speed line could not be profitable. However, this risk can be lowered if the line is made between highly populated cities.

Could you justify the California high-speed rail project from the perspective of a massive public works initiative?

Yes, a high speed rail would be a project that could massively impact California. The benefits of its operation could outweight the cost.

In other words, what other factors enter into the decision of whether to pursue a high-speed rail project?

As I said before, the most important factor is to construct line between highly populated cities in order to reduce the risk of not having enough demand. It has been demonstrated around the world, in Spain, in Italy, in Japan, in China, that high speed lines that connect very populated regions, can be profitable.

7 0
3 years ago
Which of the following might not be an option for increasing your present income? (1 point)requesting a promotion requesting a m
Alenkasestr [34]
Answer – Quitting your job to find another
Quitting your job to find another might not be an option for increasing your present income. As a matter of fact, doing so lead to a reduction of income if a less-paying job is found after quitting the current one, or worse still total lack of income if no job is found after quitting the present job. In simple terms, if you quit your present job, there is no guarantee that you’ll find a better one. A more feasible option would be to start looking for a better job without quitting your old job. Better still, if the options are available, you may request a promotion at your present job or request a merit increase in pay.
7 0
3 years ago
For all facebook pages, the conversion rate would be calculated as the percentage of visitors to the page who click the "like" b
Vika [28.1K]
The answer is FALSE because a conversion happens when a visitor to the page does whatever the marketer hoped he or she would do. The objective of the marketer will repeatedly be to get visitors to like the page in which case the question correctly defines how to calculate the conversion rate. In other cases, the goal might be for visitors to print a coupon and take it to the store, to book a plane booking or to post a comment or photo. In general, Conversion rates are a measure that specified what percentage of potential customers act as the marketer hopes, and by clicking, buying or donating. 
4 0
3 years ago
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