Answer:
d.All of the above are correct
Explanation:
The stock describes the ownership of the stockholders in the company by their holding power.
It also represents the claiming power in the firm profit plus it is a method to raise the finance also. It has two types of i.e preferred stock and the equity stock which has their own advantage and disadvantage.
This stock is shown in the liabilities side of the balance sheet under the stockholder equity column.
Question Completion:
A building owned by Hopewell Company was recently valued at $850,000 by a real estate expert.
Answer:
Book Value and Fair Value
There is a difference between the book value and the fair value of an asset. The book value is based on the asset's historical cost. The fair value is the current market price of the asset. In reporting long-term assets, the acceptable basis is the historical cost or the cost of acquiring the asset. This cost is further reduced by annual depreciation charges. The fair value is not often the acceptable basis for reporting long-term assets unless the entity is no longer a going concern or the asset has suffered an impairment loss.
Explanation:
a) Data and Calculation:
Fair value by a real estate expert = $850,000
Book value (historical cost) = $550,000
Difference between fair value and book value = $300,000
Answer:
$8,723
Explanation:
Calculation for total cost for the job on its job cost sheet
Direct materials 2,063
Direct labor (33 hours × $18 per hour) 594
Manufacturing overhead (234 hours × $24 per hour) 5,616
Total manufacturing cost for job 8,273
Conducting customer satisfaction surveys, implementing service standards, prompt follow up and resolution of complaints, human resource management, developing a corporate culture with a goal of providing customer based services
Answer:
$89,000 (Cash Provided)
Explanation:
net decrease in cash = $19,000
Net cash used in investing activities = $61,000
net cash used in financing activities = $47,000
cash was provided (used) in operating activities = ?
Let the cash was provided (used) in operating activities = y
- 61,000-47,000 + y = -19000
y = 61,000 + 47,000 - 19000
y = $ 89000
The amount of cash was provided in operating activities is $89,000.