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2 years ago

What are the three components of retained earnings?.

Business

1 answer:

amid [387]2 years ago

6 0

Answer:

revenues and gains, expenses and losses, and bottom line of net income or net loss for the period.

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On January 1, 2021, Hoosier Company purchased $940,000 of 10% bonds at face value. The bond market value was $985,000 on Decembe

qaws [65]

Answer:

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & losses 45,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

Explanation:

Hoosier Company Journal entries

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

($985,000-$940,000)

Cr Net Unrealized holding gains & losses 45,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

8 0

3 years ago

Margaret, a vegetarian, is looking for a mushroom with a meaty texture to grill and eat instead of a hamburger. Which of the fo

storchak [24]

C. Portobello, is a good example of a mushroom with a meat like texture.

4 0

3 years ago

Read 2 more answers

Which of the following expenses is NOT deductible when a taxpayer uses the simplified method of calculating the home-office dedu

Rasek [7]

The simplified method of computing home office expenses limits the number of home office expenses allowed to a fixed amount regardless of the amount of business income or the size of the home office.

<h3>How do you calculate home office deductions?</h3>

A business owner can calculate the home office deduction in two ways: regular and simplified. The regular method would require you to use Form 8829 to calculate your deduction, which would include figures for the area of your home and the total hours it was used for business purposes, your business income, and other business expenses.

If you itemize deductions and use the simplified method for a taxable year, you can deduct home expenses that would otherwise be deductible as itemized deductions on Form 1040 or 1040-SR, Schedule A, without reducing these expenses by the amounts allocable to the simplified method.

Learn more about home office deductions here:

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8 0

1 year ago

When a temporary negative supply shock hits the economy ________.

Naddika [18.5K]

Answer:

C. the divine coincidence does not always hold

Explanation:

When a temporary negative supply shock hits the economy the divine coincidence does not always hold.

7 0

3 years ago

A _____ is targeted to borrowers with low credit scores, high debt-to-income ratios, or other signs of a reduced ability to repa

Andrej [43]

It would be <span>Subprime mortgage loan.
Hope this helps! :D</span>

3 0

3 years ago