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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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For analysis purposes Jay considers his restaurant to have three revenue centers. These are the dining room, the bar and off-sit
Kay [80]

Answer:

40%

Explanation:,

In order to find the percent of Jay’s total revenue that was contributed by off site catering, you have to divide $20,000 by $50,000 to get the weight of off site catering revenue in the Jay's total revenue and multiply for 100 to get the percentage:

($20,000/$50,000)*100= 40%

7 0
3 years ago
Kalen is a seventeen-year-old minor who has just graduated from high school. He is attending a university two hundred miles from
aleksandrvk [35]

Answer and Explanation:

According to the scenario, the explanation of the given situation are as follow:-

1. Ability of Contract : According to the law except of some contract a minor can enter into any contract. Mr. kalen is a seventeen year old minor and he can entered the rent contract because it is not banned by the government for the minor.  

2. This is a voidable contract because Mr. Kalen is a minor and he not legally capable to entering in agreement. In voidable contract one party has a right to discontinue the contract it is depends on him that he want to void it or not. If he wants to void it he cannot be bound to go further with this contract. If a minor wants he can rightfully dis-affirm any contract in which he enters.

According to the analysis, under this circumstance, Mr. kalen is not bound to the contract because he is still minor and he shows his disaffirmance of contract by returning the key to landlord. So he is not liable for the balance of the payments due under the lease.    

5 0
3 years ago
Cheaters in cartels make ________ profit when the other cartel members ________ their promise
Mkey [24]

Cheaters in cartels make more profit when the other cartel members keep their promises. Thus, option D is correct.

<h3>What are Cartels? </h3>

A cartel is a group of separate companies or social groups that combine to fix prices on goods or services. Within the same sector, cartels compete and work to lessen that rivalry by setting prices in accordance with themselves.

A cartel is an entity with no ethics, which means it often includes cheaters who tend to earn more money than the ones who keep promises. Therefore, option A is the correct option.

Learn more about cartels, here:

brainly.com/question/14265043

#SPJ4

The question is incomplete, the options are:

A)more; break

B)less; keep

C)zero; break

D)more; keep

3 0
2 years ago
A _____, offered by companies such as American Express, carries no spending limit, and the entire amount billed to the card is d
GalinKa [24]

Answer:

Charge card

Explanation:

A charge card is a type of electronic payment card in which there is no interest is to be charged but you needs to the pay the balance of the statement either full or monthly basis. Also it has the highest annual fee that should be charged

So as per the given situation, it is the charge card scenario

7 0
3 years ago
Josiah was managing a factory in India, and had a decision to make. The factory used child labor, which he disapproved of, but h
Marina CMI [18]

Answer: ethical dilemma                      

 

Explanation: In simple words, ethical dilemma refers to a condition in which an individual in authority have to make a choice of accepting one alternative over other in which none of the alternative is fully acceptable from the point of ethics.

In other words, it can be defined as a situation in which two principles of ethical psychology conflicts with each other. In these conditions, authority making the decision can never be fully ethical and have to give priority to one of the principles involved.

Hence from the above we can conclude that the given case depicts ethical dilemma.

5 0
4 years ago
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