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dlinn [17]
3 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]3 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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Which countries signed in the North American Free Trade Agreement in 1992?
TEA [102]

The correct answer is Canada, the United States, and Mexico

Explanation:

The North American Free Trade Agreement or NAFTA was an economic alliance between three important countries: Canada, the United States, and Mexico (main countries in North America). Additionally, the purpose of this alliance was to facilitate trade between these countries, and in this way promote the development of the economy in these territories. In terms of history, all countries signed for the agreement in 1992, but the alliance was official only in 1993 because of the opposition of some citizens and groups. Thus, in 1992 Canada, the United States, and Mexico signed this agreement.

4 0
3 years ago
What form of capital will be obtained by Transnet​
melisa1 [442]

Explanation:

All tenders should be submitted on the appropriate tender forms as issued by trasnet and as per instructions in the bid documentation

4 0
1 year ago
Larry Nelson holds 1,000 shares of General Electric (GE) common stock.
Anna35 [415]

Answer:

$82,000

Explanation:

The computation of the current investment is shown below:

Current investment = Number of shares of common stock × price per share

= 2,000 shares × $41 per share

= $82,000

By multiplying the number of shares of common stock with the price per share we can get the current investment in the company

All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
Consider the following situations for Shocker:
Delicious77 [7]

Answer:

a.

Cash $4,500 (debit)

Deferred Revenue $4,500 (credit)

b.

Prepaid Advertising $2,700 (debit)

Cash $2,700 (credit)

c.

Salaries Expense $8,000 (debit)

Salaries Accrued $8,000 (credit)

d.

J1

Cash $70,000 (debit)

Note Payable $70,000 (credit)

J2

Interest Expense $2,100 (debit)

Note Payable $2,100 (credit)

Explanation:

a.

Recognize Cash and Deferred Revenue

b.

Recognize Asset - Prepaid Advertising and De-recognize Cash

c.

Recognize Salaries Expense and Recognize Salaries Accrued Liability

d.

J1

Recognize Cash Asset and Recognize Liability - Note Payable

J2

Recognize Interest income accrued on the Note Payable during September to December.

5 0
3 years ago
On her way to a concert, Hermione stopped at a restaurant for dinner. In her purse, she had 12 bills worth a total of $40. She h
katovenus [111]

The correct statement will be that the maximum number of $5 bills that can be in Hermione's purse will be 7. So, the correct option that matches the statement is D.

The number of bills of $5 are seven, as Hermione also has at least one bill of $1.

<h3>Calculation of bills. </h3>

  • Considering Hermione has at least one bill of $1, then the computation of total bills out $40 can be shown as below,

  • 40= 1+x

  • where <em>x </em>is the number of $5 bills

  • So we know that the maximum number of bills of $5 that can be kept by Hermione is 7 as $35 is the nearest number possible and seven bills of $5 will constitute $35.

Hence, it can be concluded that option D is correct that there are seven bills of $5 in the purse of Hermione and hence there will be five bills of $1  in her purse.

Learn more about bills here:

brainly.com/question/16405660

3 0
2 years ago
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