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After taking $45 billion in taxpayer funding to remain afloat, citibank spent $50 million on a new private jet. this action was:

Gwar [14]

After taking $45 billion in taxpayer funding to remain afloat, Citibank spent $50 million on a new private jet. this action was: unethical

What was the intention of taxpayer funding?

The taxpayer funding means that Citibank was granted a funding relief with taxes paid by the taxpayers to avert a collapse of the bank and to ensure the wider economy is not impacted negatively by the failure of a "too big to fail bank" such as the Citibank

The fact that funds meant to keep the bank liquid and to be able to continue smooth operations by having the required cash to meet obligations and they were diverted meant that directors at Citibank have acted unethically.

Find out more about government intervention on:brainly.com/question/13921660

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6 0

2 years ago

The internal rate of return (IRR) for a project is the discount rate at which:

harina [27]

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7 0

3 years ago

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Situation 1 Bridgeport Cosmetics acquired 10% of the 184,000 shares of common stock of Martinez Fashion at a total cost of $13 p

Advocard [28]

Answer:

Please see find the answer in the explanation!

Explanation:

Situation 1:

First entry:

Bridgeport acquired 10% of shares of Martinez Fashion, the double entry would reduce the cash of Bridgeport and increase the asset, see as follows:

Shares Dr $239200 (18400× $13)

Cash Cr $239200

On June 30, Martinez declared and paid $69400 cash to all stockholders, Bridgeport will be entitled to 10% of the declared and paid dividend, therefore, dividend income will have to be recorded as follows:

Cash/bank Dr $6940

Dividend Income Cr $6940

Situation 2:

Indigo Inc obtained significant influence over Seles corporation (making her an Associate). In a group situation, an associate is equity accounted and is recorded as an investment in the statement of financial position and is also entitled to the profits with the proportion of their ownership. First entry would be to record the associate as an investment, see as follows:

Investment in Associate Dr $84780

Bank/Cash Cr $84780

On june 15 Seles declared and paid cash dividend, Indigo Inc will be entitled to 30% of the dividend, see as follows:

Dividend income= $39100× 30%

Dividend income= $11730

Entry:

Cash/Bank Dr $11730

Dividend income Cr $11730

Unlike Bridgeport Corporation, Indigo Inc will be entitled to 30% of the reported net income as well. The entry is as follows;

Cash/Bank Dr $ 25500 ($85000× 30%)

Income Cr $ 25500

7 0

4 years ago

Bronco Electronics' current assets consist of cash, marketable securities, accounts receivable, and inventories. The following d

Marina CMI [18]

Explanation:

a. Current assets = $600000

Current ratio = 3

Current ratio = Current assets ÷Current liabilities = 3

⇒Current assets = 3 Current liabilities

Given that

Quick ratio = 2.25

Also we know that

Quick assets = Quick assets / Current liabilities = 2.25

therefore, Quick assets = 2.25 Current liabilities

Also, Quick assets = Current assets - Inventory

then,

2.25 current liabilities = 3 Current liabilities - $150000

⇒$150000 = 0.75 Current liabilities

Hence, Current liabilities = $200000

Current assets = 3 Current liabilities

= 3 × $200000

= $600000.

b. Calculating for Shareholders equity we get

Shareholders equity = $560000

We know that ,

Total debt + Total equity = Total assets

Debt to equity ratio = 1.5

Also, Total debt / Shareholders equity = 1.5

Debt = 1.5 Shareholders equity

1.5 Shareholders equity + 1 Equity = $1400000

2.5 Shareholders equity = $1400000

Shareholders equity = $560000.

Now calculating for Non current assests

c. Non Current assets = $800000

Total assets = Current assets + Non current assets

$1400000 = $600000 + Non current assets

Non current assets = $800000.

d. Long term liabilities = $640000.

Total assets = Total liabilities + Shareholders equity

$1400000 = Current liabilities + Long term liabilities + Shareholders equity

$1400000 = $200000 + Long term liabilities + $560000

Long term liabilities = $640000.

7 0

4 years ago

Your automobile insurance includes premiums of $510 for liability, $220 for collision, and $130 for comprehensive. What is your

Mkey [24]

To get the total insurance premium, just add the three premiums:
Total premium = liability + collision + comprehensive
where:
liability = $510
collision = $220
comprehensive = $ 130
Total premium = $510+$220+$130
=$860
The total premium for the car insurance is $830 which covers the liability, collision and comprehensive (natural disasters, fire, theft, falling objects, vandalism)

5 0

3 years ago

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