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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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Ellis Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just comple
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Answer:

It is the Cost of Goods Manufactured that should be transferred to the Finished Goods account. As both of them are asset account, adding to the Finished Goods account would debit it and taking from the Work in Process account would credit it.

Date                 Account Title                                          Debit                Credit

XX-XX-XXX     Finished Goods                                $1,469,000

                        Work in Process                                                       $1,469,000

4 0
3 years ago
The percentage of sales approach separates accounts on the pro forma income statement and balance sheet into those that change d
lukranit [14]

Answer:

Sales

Explanation:

Sales is defined as the activities which are related to the selling or the number of the services or goods that are sold in the given period of time or year.

The seller who finished or concluded the sales in relation to the acquisition or appropriation or in a direct interaction at the time of sale with the buyer.

Therefore, the percentage of the sales method, separates the accounts on the balance sheet and pro forma income statement into those which change directly with sales.

5 0
3 years ago
When creating the complete 2nd Order Model for a regression model using job tenure (years working at that job), job experience (
kobusy [5.1K]

One needs to create interactions between all of the following EXCEPT option B. high school and college. since, the model is using job tenure, it is the only option without work experience.

<h3>What is a 2nd Order Model for a regression model?</h3>

The polynomial regression model has one, two, or more than two predictor variables. Each predictor variable may be present in various powers. This polynomial model is called a second-order with one predictor variable because the single predictor variable is expressed in the model to the first and second powers.

Therefore, the only predictor variable in all other options is job experience. However, option C. does not have the dominating variable.

learn more about regression model: brainly.com/question/25987747

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7 0
2 years ago
VitaLive has authorized the development of a video game based on new technology. Which of the following is an example of a risk
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Answer:

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Answer:jannwow0eouehehevhehehehehoepwowowExplanation:

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3 years ago
In addition to being charged a fee, what is another possible consequence of a overdraft?
emmasim [6.3K]

Answer:

loss of money

Explanation:

8 0
3 years ago
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