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Solnce55 [7]
2 years ago
5

Select the education or qualification best demonstrated in each example.

Business
1 answer:
LenaWriter [7]2 years ago
3 0

Answer:

1. attention to detail

2. Juris Doctor degree

3. critical-thinking skills

4. research skills

Hope you have a good day ^w^

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Mesquite, Inc. has held-to-maturity debt securities it purchased in 20X1. At December 31, 20X2, the amortized cost basis of the
BabaBlast [244]

Answer:

"$10,000" is the appropriate solution.

Explanation:

According to the question, the values are:

Future cash flows,

= $2,10,000

Amortization Cost,

= $2,20,000

Now,

The loss amount will be:

=  Future \ Cash \ Flows - Amortization \ Cost

On substituting the given values, we get

=  2,10,000 - 2,20,000

=  10,000

5 0
3 years ago
Gibson Energy Ltd.’s general ledger account for Cash in Bank showed the following at December 31, 2019:
viktelen [127]

Answer:

1. Adjusted cash balance = Adjusted bank statement balance = $133,620.

2. See the adjusting journal entries and explanation in part 2. below.

Explanation:

Note: The data in the question are merged and they are first sorted in the attached excel file before the questions are answered as follows:

1. Complete the bank reconciliation at December 31, 2019.

The bank reconciliation is presented in two ways as follows:

<u>a) Starting with cash book balance</u>

Gibson Energy Ltd.

Bank Reconciliation  

at 31 December 2019  

<u>Particulars                                                                  Amount ($)    </u>

Cash book bal. at 31 Dec. yet to be reconciled          62,000

Add:

Collected note receivable from XYZ Corp                  80,000

Less:  

Dishonored NSF check                                                 (7,000)

Overdraft interest expense                                            (1,320)

Bank service charge                                                 <u>         (60)   </u>

Adjusted cash balance at Dec 31                           <u>   133,620   </u>

<u>b) Starting with bank statement balance</u>

Gibson Energy Ltd.

Bank Reconciliation  

at 31 December 2019  

<u>Particulars                                                                       Amount ($)    </u>

Bank statement bal. at Dec 31 yet to reconciled              131,620

Add:  

Cash deposited on December 9th yet be credited          85,000

Cash deposited on December 31 yet be credited            15,000

Check #52094 wrongly drawn                                           62,000

Less:

Outstanding checks 233                                                    (83,000)

Outstanding checks 239                                                <u>    (77,000)   </u>

Adjusted bank statement balance at Dec. 31             <u>     133,620   </u>

2. Prepare the adjusting journal entries required to make the Cash in Bank account in the general ledger agree with the adjusted cash balance on the December 31 bank reconciliation. Include descriptions.

<u>Date      Accounts title & explanation              DR ($)           CR ($)  </u>

31 Dec 19    Cash                                                80,000  

                   Note Receivable                                                     78,049

                   Interest on note receivable                                       1,951

<em><u>                   (To record note receivable & int. collected from XYZ)     </u></em>

31 Dec 19   Overdraft interest expense                1,320

                  Service charge                                        60

                  Cash                                                                           1,380

<em><u>                    (To record interest expense and bank charges)                   </u></em>

31 Dec 19   Account Receivable                           7,000

                    Cash                                                                           7,000

<em><u>                   (To record NSF check dishonored)                                       </u></em>

Download xlsx
3 0
3 years ago
Healthy Snacks has a target capital structure of 60 percent common stock, 3 percent preferred stock, and 37 percent debt. Its co
Ivenika [448]

Answer:

WACC = 12.45%

Explanation:

WACC= cost of equity * weight + cost of pref. equity * weight + cost of debt * weight * (1 - T)

WACC = 0.6 * 16.8 + 0,03 * 11.4 + 0,37 * 8.3 * (1 - 0,34)

WACC is the weighted average of the costs of the company, so it is necessary to multiply the weight of each source of capital (equity, preferred equity and debt) for its corresponding cost. Debt has a partiuclarity and is that it is before taxes so it becomes a tax shield for the company and taxes in fact reduce the cost of debt, for that reason we also multiply the cost of debt by  (1 - T)

5 0
4 years ago
Barney wants to start a new business that yields a profit of​ 20% per year after a period of 2 years. In this​ period, if he
crimeas [40]

Answer:

Opportunity costs.

Explanation:

Investing in stocks depicts Barney's opportunity cost of money.

The opportunity cost is the money or funds held up by an individual instead of investing it in other businesses or ventures to yield interests.

5 0
3 years ago
Refer to the following selected financial information from McCormik, LLC. Compute the company's current ratio for Year 2. Year 2
swat32

Answer: 3.39

Explanation: Current ratio can be defined as a liquidity ratio which is used by the accountants the evaluate the ability of the company to pay its short term obligations. It can be computed as follows :-

current\ ratio=\frac{curret\ assets}{current\ liabilities}

where,

current assets = $38,500 + $100,000 + $90,500 + $126,000 + $13,100 = $368,100

current liabilities = $108,400

now putting the values into equation we get :-

current\ ratio=\frac{368,100}{108,400}

                             = 3.39

8 0
3 years ago
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