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zysi [14]
3 years ago
12

Myers Company acquired a 60% interest in Gannon Corporation on December 31, 2020 for $1,775,000. During 2021, Gannon had net inc

ome of $1,000,000 and paid cash dividends of $250,000. At December 31, 2021, the balance in the equity investment account should be
Business
1 answer:
miskamm [114]3 years ago
6 0

Answer:

The answer is $2,225,000

Explanation:

Cost of acquisition is $1,775,000

Meyer company's share of net income in Gannon corporation:

60% of $1,000,000

0.6 x $1,000,000

= $600,000

Meyer company's share from cash dividend in Gannon corporation

60% of $250,000

0.6 x $250,000

= $150,000

The balance in the equity investment account at December 31, 2021 should be:

$1,775,000 + $600,000 – $150,000

= $2,225,000

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Harley signs a check payable to Pro Accountants, P.C., and gives it to Pro, leaving the amount blank but authorizing the firm to
Evgen [1.6K]

Answer:

The correct answer to the following question is option C) $15,000 .

Explanation:

Harley signed and gave a blank check to the Pro accountants , and giving them them the authority to fill the amount by themselves but she had already came to an agreement with Pro accountant that the amount they would fill is $10,000 . But Pro accountants didn't do that, instead they filled the check for $15,000 , and gave the check to valley bank , now the valley bank has the full authority to enforce the full $15000 amount .

4 0
3 years ago
You live Happytown, Illinois, and you are an intern for the Happytown County Health Department. It is now April and your office
34kurt

Answer:

The first place to post the flyer will be <u>Children Day Care Centers </u>

Second will be near <u>ponds, lakes</u> where people tend to go for swimming

Third will be at the <u>schools and hospitals</u>

Fourth will be at <u>indoor / swimming pool</u> for general public and professional swimmers

Explanation:

Children Day Care Centers:

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Ponds, Lakes, Indoor swimming pool

Backpackers, hikers & campers use the lakes and ponds for bathing, swimming etc., are exposed to Cryptosporidium infection as they end to consume unfiltered and untreated water

Schools and Hospitals

Kids, infants and pregnant women are more like to get seriously ill due to weak immune system which may lead to dehydration leading to diarrhea, as they tend to contact infected people.

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3 years ago
The U.S. fiduciary monetary system: a. is one where money is not convertible to a valuable commodity such as gold. b. is the one
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The U.S. fiduciary monetary system is one where money is not convertible to a valuable commodity such as gold.

Option a

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In fiduciary monetary system, the money is issued by the government and the value of the money depends uniquely on faith of the public that the currency represents command over services and goods.  The word fiducia is from Latin and it means trust or confidence.

Fiduciary money includes demand deposits of banks namely checking accounts. Fiduciary money is accepted depending on the trust its issuer commands.

The fiduciary currency is supplied in the economy by Fed. Fiduciary money can be classified into two categories namely,

  • Paper money - Includes all the banknotes  
  • Divisional currency  - Includes all the coins

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