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3 years ago

To determine a credit score, debt, available credit and total assets are all part of the

Business

1 answer:

satela [25.4K]3 years ago

4 0

Answer:

Net assets of smith family = $167,000

Explanation:

Given:

Net worth of smith family = $100,000

Net liabilities of smith family = $67,000

Find:

Net assets of smith family

Computation:

Net assets = Net worth + Net liabilities

Net assets of smith family = Net worth of smith family + Net liabilities of smith family

Net assets of smith family = $100,000 + $67,000

Net assets of smith family = $167,000

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3 . Relationship between tax revenues, deadweight loss, and demandelasticity

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Taxing a good with relatively less elastic demand, helps government to raise more revenue with lower welfare loss.

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3 years ago

David is shopping for work supplies; he purchases 3 binders, 5 pens, and 2 reams of paper. The binders cost $3.50 each; the pens

AVprozaik [17]

Answer:

Im not 100% sure but the answer is C

Explanation:

7 0

3 years ago

Cash Discount Calculations On June 1, Meadow Company sold merchandise with a list price of $40,000. For each of the sales terms

Step2247 [10]

Answer:

Credit Terms Date Paid Amount received

1 2/10,n/30 June 8 $39,200

2 1/10, n/30 June 15 $40,000

3 1/15, n/30 June 14 $39,600

4 n/30 June 28 $40,000

Explanation:

Sales are made on June 1 with list price $40,000

June 8

The receipt is within the discount period of 10 days, so the amount received will be net of 2% discount as follow

Amount Received = $40,000 x ( 1 - 2%) = $39,200

June 15

The receipt is after the discount period of 10 days, so the full amount will be received as follow

Amount Received = $40,000

June 14

The receipt is within the discount period of 15 days, so the amount received will be net of 1% discount as follow

Amount Received = $40,000 x ( 1 - 1%) = $39,600

June 28

There is no discount offered in this term and credit period of 30 days is given. The cash receipt is within the credit period, So the full amount will be received as follow

Amount Received = $40,000

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3 years ago

True or False: Reducing trade restrictions, thereby increasing access to more economical foreign goods, would increase the prosp

Zolol [24]

The answer is true. because if the government allow trades to take place people would be able to exchange goods from countries to countries.

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3 years ago

1. An 80%-owned subsidiary sells merchandise to its parent at a markup of 25% on cost. During the current year, the parent paid

Vedmedyk [2.9K]

Answer:

The unrealised profit (PURP) of $5,000 [ (125,000 * .20) * (.2) ] should be subtracted from the profit share of Non-Controlling Interest.

Explanation:

When we prepare consolidated financial statements, we treat the companies of group as a single entity. That's why the intra-group transactions must be removed the consolidated statements. This involve adjustment of current accounts, unrealised profit on sale of goods/non-current asset, loan given by one group company to another etc.

When goods are sold by one group company to another at a markup and the buyer has not yet sold it to the third party, then the markup (profit) loading on these items is unrealised from group's point of view. This needs to be removed from the consolidated accounts because no one can make profit by trading with himself. This profit is termed as realised when the goods are sold to the third party. In the individual accounts, profit on this transaction has a credit balance so to remove it we debit the "cost of goods sold of group" and a credit entry to it is made to "inventory". This credit entry to inventory bring down the balance of inventory to what was the cost of that inventory to the group. Moreover, the recording of revenue by seller and inventory by buyer on intra-group sales and purchase is also adjusted.

After all the adjustments are made, the profit is distributed between parent's retained earnings and non-controlling interest. Now if the seller of goods is subsidiary, like in this case, the amount of unreaslised profit is deducted from NCI's profit share to calculate the profit attributable to parent's retained earnings.

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3 years ago