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inna [77]
3 years ago
8

On January 2013, Pennington Bancorp acquired $100,000 of marketable securities and classified them as Available for Sale. On Mar

ch 31, 2013, Pennington prepared its 10-Q and marked the securities down to their market value of $85,000. On April 4, 2013, Pennington sold the securities for $93,000 cash. Which of the following items would be increased by the sale of the marketable securities?
a. Cash from Financing Activities
b. Net Income
c. Marketable Securities
d. Accumulated Other Comprehensive Income
e. Cash from Investing Activities
Business
1 answer:
saveliy_v [14]3 years ago
4 0

Answer:

b. Net Income

e. Cash from Investing Activities

Explanation:

Calculation to determine Which of the following items would be increased by the sale of the marketable securities

Using this formula

Gain from investment = Selling price of the security - Value of the security

Let plug in the formula

Gain from investment= $93,000 - $85,000

Gain from investment= $8,000

Based on the above calculation The sell of marketable security will INCREASE CASH which means that CASH FROM INVESTING ACTIVITIES will increase and NET INCOME will increase.

Therefore the items that would be increased by the sale of the marketable securities are :

b. Net Income

e. Cash from Investing Activities

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Which is the new crime created by Sarbanes-Oxley? a. mail fraud b. obstruction of justice c. certification of false financial st
meriva

Answer:

The correct answer is letter "C": certification of false financial statements.

Explanation:

The Sarbanes-Oxley Act (SOX) is a statute that aims to increase corporate governance and enhance internal control of companies. SOX's primary purpose is to protect stakeholders from false corporate financial statement representations. Investors must know that the financial information on which they rely is accurate and that their accuracy has been checked by an independent third party.

<em>Altering, destroying, covering-up or falsifying information in the financial statements of a firm is considered a crime since the SOX implementation with a maximum sentence of 20 years.</em>

3 0
3 years ago
Which type of organizational purchase situation is characterized by high purchase importance and complexity, a large and evolvin
yaroslaw [1]

Answer:

New Task

Explanation:

The new task is a <em>company purchasing scenario where the purchaser initially buys  a products or services for the first time with no testing experience. </em>

An comprehensive search is performed to assess alternatives, however.  The higher the price or risk concerned, the more decision-making participants '  knowledge is required.  

For instance, an organization that purchases raw resources for the first time  to produce devices.

7 0
3 years ago
Parkinson Company (PC) had a beginning balance of $86,000 and an ending balance of $90,000 in itslong-term marketable securities
algol [13]
B I think sorry if wrong :/
8 0
2 years ago
4. What is one thing you can do to help remember a new business contact? Write
Zanzabum

Answer:

Explanation:

c:what type of business the person is in

that is the only logical answer lol

hope it helps

3 0
3 years ago
Copy equipment was acquired at the beginning of the year at a cost of $56,000 that has an estimated residual value of $8,000 and
sergeinik [125]

Answer:

Results are below.

Explanation:

<u>The depreciable cost is the result of deducting from the purchase price the salvage value:</u>

<u></u>

Depreciable cost= 56,000 - 8,000

Depreciable cost= $48,000

<u>The depreciable rate is the depreciation that the asset suffers in one year express as a percentage:</u>

<u></u>

Depreciation rate= 1/5 = 0.2 or 20% per year

<u>Finally, the units of production depreciation for the first year:</u>

Annual depreciation= [(original cost - salvage value)/useful life of production in copies]*number of copies

Annual depreciation= (48,000/1,000,000)*240,000

Annual depreciation= 0.048*240,000

Annual depreciation= $11,520

5 0
3 years ago
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