ACCOUNTING:

Answer this question based on the following information about a company: Revenues, $20 million; costs, $15 million; assets, $30

andrezito [222]

Answer:

$60,000,000

Explanation:

Market value is simply defined as the price an asset would fetch in the marketplace, or the value that the investment community gives to a particular equity or business.

Formula for market value is given as

Company's Share × Current Market price per share.

Therefore, given that

Numbet of shares = 3,000,000

Price of share = $20

Then, MV = 3,000,000 × 20

= $60,000,000

8 0

3 years ago

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When a person whose duty is conditional leads the other party to rely on his noninsistence on the condition, the condition will

Tems11 [23]

The condition will be excused because of ESTOPPEL. Estoppel is an obstruction which prevents a person from asserting a right or denying a fact. The obstruction is normally due to the person action, conduct or failure to act. The principal aim of estoppel is to prevent injustice due to inconsistency or fraud. Estoppel is of two types: equitable and legal estoppel.

3 0

3 years ago

Kirkland sells season tickets for six events at a price of $48. For the 2013 season, 2,700 season tickets were sold.

alexira [117]

Answer:

a. Assets = Liabilities + Stockholders' Equity = $129,600

b. Debit Unearned ticket revenue for $129,600, and Credit Total revenue for $129,600.

c. It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Explanation:

a. Use the horizontal model to show the effect of the sale of the season tickets. (Enter decreases to account balances with a minus sign.)

Note: See the attached excel file for the horizontal model showing the effect of the sale of the season tickets.

In the attached excel file, the following calculation is done:

Cash = Unearned ticket revenue = Price per season ticket * Number of season tickets sold = $48 * 2,700 = $129,600

Since Stockholders' Equity is equal to zero in the attached excel file, we have:

Assets = Liabilities + Stockholders' Equity = $129,600

b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.

The journal entry will look as follows:

General Journal Debit ($) Credit ($)

Unearned ticket revenue 129,600

Total revenue 129,600

(To record the effect of presenting an event.)

c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?

It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Download xlsx

4 0

2 years ago

A 20-year-old woman wants to purchase a $100,000 one-year life insurance policy. What should the insurance company charge th

asambeis [7]

Answer:

Hello some parts of the question is missing here is the missing part

Age probability of female death

20 0.00060

30 0.00070

40 0.00095

50 0.00300

Answer : $110

Explanation:

Given that the woman is 20 years of age and wants to buy one-year life insurance policy the insurance company would have to charge her considering the probability of female death within 20 years of age

expected profit for insurance company = $50

cost of insurance = $100000

For the company to make a profit of $50 we make use of this relation

x * ( 1 - probability of female death at 20 ) - ( cost of insurance - x ) * probability of female death at 20 = 50

= x *( 1 - 0.00060 ) - ( 100000 - x ) * 0.00060 = 50

= x* ( 0.9994 ) - (60 - 0.00060 x ) = 50

= 0.9994 x - 60 + 0.00060 x = 50

hence x = 50 + 60 = $110

3 0

3 years ago

True or False: Nearly two thirds of all jobs require some sort of educational or training after high school?

CaHeK987 [17]

True i do believe :)

8 0

3 years ago

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