Answer:
3. income statement
Explanation:
Bank of America’s income statement provides information such as its interest expense, or the interest the bank paid depositors, and its interest income, or the interest it earned by investing deposits over a period of time. This document also states the bank’s other revenues and expenses for the time period.
Answer:
B)
Explanation:
Sue is not required to recognize gross income from the receipt of the funds, but she must reduce her cost basis in the land by $2000.-
Answer:
The present value of the bonds on January 1, 2018 is $84.63 million
Explanation:
8% coupon payment of bond for a period of 15 year at a discount rate of 10% is the an annuity. Value of this bond will be calculated by following formula
Coupon payment = 100 x 8% = $8 million annually = $4 million semiannually
Number of periods = n = 15 years x 2 = 30 periods
Yield to maturity = 10% annually = 5% semiannually
Price of bond is the present value of future cash flows, to calculate Price of the bond use following formula
Price of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]
Price of the Bond = $4 million x [ ( 1 - ( 1 + 5% )^-30 ) / 5% ] + [ $100 million / ( 1 + 5% )^30 ]
Price of the Bond = $4 million x [ ( 1 - ( 1 + 0.05 )^-30 ) / 0.05 ] + [ $100 million / ( 1 + 0.05 )^30 ]
Price of the Bond = $4 million x [ ( 1 - ( 1.05 )^-30 ) / 0.05 ] + [ $100 million / ( 1.05 )^30 ]
Price of the Bond = $61.49 + $23.14 = $84.63 million
Strategic business processes are dynamic, nonroutine, long-term business processes such as financial planning, expansion strategies, and stakeholder interactions.
This is further explained below.
<h3>What is business?</h3>
Generally, An organization or entrepreneurial body that engages in commercial, industrial, or professional activity is what we mean when we talk about "doing business."
In conclusion, Business processes that are dynamic, non-routine, and long-term are referred to as strategic business processes. Some examples of strategic business processes are financial planning, growth plans, and stakeholder interactions.
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Answer:
Step 1: Identify contract(s) with customer
Correct Match: Customer agrees to purchase one computer plus two years of data services for an agreed upon price.
Step 2: identify performance obligation(s) in the contract
Correct Match: Customer will receive the computer immediately and will benefit from two years of data services for the tablet.
Step 3: Determine transaction price
Correct Match: The total price for the computer and two years of services is $800.
Step 4: Allocate transaction price to performance obligation(s)
Correct Match: The standalone selling price of the computer is $500 and of the two-year service contract is $300.
Step 5: Recognize revenue when (or as) each performance obligation is satisfied through a transfer of control
Correct Match: Customer takes possession of the computer and benefits from the data service over two years.
