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dlinn [17]
4 years ago
12

Smith buys and sells equity securities. On December 15, 2021, Smith purchased $522,000 of Jones shares and elected the fair valu

e option to account for the Jones investment. As of December 31, 2021, the Jones shares had a fair value of $578,000. In the 2021 financial statements, Smith will report (ignore taxes):
Business
1 answer:
Fofino [41]4 years ago
4 0

Answer:

Smith will report an investment income of $56,000 in its income statement.

Explanation:

Based on the information given we were told that Smith made a purchased of the amount of $522,000 of Jones shares in which as of December 31, 2021, the Jones shares also had a fair value of the amount of $578,000 this means that Smith will report an investment income of $56,000 ($578,000-$522,000) in its income statement.

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The two-party system is a profoundly established component of the American government. In most two-party races, the challenge is between two hopefuls of two noteworthy political parties.Nevertheless, both the two-party and multi-party frameworks have their favorable circumstances and impediments.
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3 years ago
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The envelope system is especially helpful for expenses like:.
Kruka [31]

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3 years ago
You have $1,500 today in your savings account. How long must you wait for your savings to be worth $4,000 if you are earning 1.1
marta [7]

Answer:

89.66 years

Explanation:

In this question, we use the NPER formula which is shown in the spreadsheet.

The NPER represents the time period.

Given that,

Present value = $1,500

Future value = $4,000

Rate of interest = 1.1%

The formula is shown below:

= NPER(Rate;PMT;-PV;FV;type)

The present value come in negative

So, after solving this, the answer would be 89.66 years

5 0
3 years ago
Hamill Company purchased equipment on January 3rd, 2022, for $70,000. The equipment is expected to be used for four years and 12
Stels [109]

Answer:

Annual depreciation= $32,500

Explanation:

Giving the following information:

Purchase price= $70,000

Salvage value= $5,000

Useful life= 4 years

<u>To calculate the annual depreciation under the double-declining-balance method, we need to use the following formula:</u>

<u></u>

Annual depreciation= 2*[(book value)/estimated life (years)]

<u>2022:</u>

Annual depreciation= 2*[(70,000 - 5,000) / 4]

Annual depreciation= $32,500

5 0
3 years ago
Although you have an exam tomorrow, you are considering watching one more episode of your favorite TV show. You will choose to s
AURORKA [14]

Answer:

The correct answer is A

Explanation:

Facing a decision for yes or not (buy or not to buy, sleep or not to sleep, eat or not to eat, and so on) you will choose to do something if this something gives you a positive marginal benefit.

In this case your situation has two sides. By one side, watching an extra episode is good and gives you utility, buy you also need to study and not tu study gives you disutilty (or it's a cost). So, you will watch your episode if it gives you more marginal benefit than the cost it gives you.

If you are in a situation where the marginal cost and benefit are already equal you won't watch another episode, as the marginal benefit will be negative.

Watching an extra episode is not free, it has an opportunity cost (study for the exam)

And about D, watching an extra episode will not always guarantee fun, think about watching 18 episodes in a row, not going to school and getting fired from job.

So, correct answer: A

8 0
3 years ago
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