The Frank and Lloyd capital account balances at 12/31/21 are as follows: - Frank, Capital $54,000 - Lloyd, Capital $75,000 With Partner Frank's permission, Lloyd sells his partnership interest to Wright for $150,000 Required : 1) Record the Journal Entry for the sale. 2) How and where is the gain / loss reported?
Answers
(1) The required Journal entry for the sale is described below.
(2) The gain will be included in the partner's individual tax return as a capital gain and subject to applicable tax laws and regulations. Since the sale resulted in a gain, hence, it will be reported as a capital gain.
(1) Journal entry for the sale:
Lloyd's Capital Account: $75,000
Cash (Proceeds from sale): $150,000
Wright's Capital Account (New partner): $75,000
This journal entry records the sale of Lloyd's partnership interest to Wright. Lloyd's Capital Account is debited to remove his ownership from the partnership. Cash is debited for the amount received from the sale, and Wright's Capital Account is credited to reflect his investment and ownership in the partnership.
(2) The gain or loss from the sale of the partnership interest is calculated as the difference between the sale proceeds and Lloyd's capital account balance. In this case, the gain can be calculated as:
Gain = Sale Proceeds - Lloyd's Capital Account Balance
= $150,000 - $75,000
= $75,000
Therefore, the gain will be included in the partner's individual tax return as a capital gain and subject to applicable tax laws and regulations. Since the sale resulted in a gain, hence, it will be reported as a capital gain.
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Related Questions
The value of a share of common stock depends on the cash flows it is expected to provide, and those flows consist of the dividends the investor receives each year while holding the stock and the price the investor receives when the stock is sold. The final price includes the original price paid plus an expected capital gain. The actions of the marginal investor determine the equilibrium stock price. Market equilibrium occurs when the stock's price is -Select- its intrinsic value. If the stock market is reasonably efficient, differences between the stock price and intrinsic value should not be very large and they should not persist for very long. When investing in common stocks, an investor's goal is to purchase stocks that are undervalued (the price is -Select- the stock's intrinsic value) and avoid stocks that are overvalued. The value of a stock today can be calculated as the present value of -Select- stream of dividends:
Answers
Answer:
marginal investor
equal
less
infinite
Explanation:
the value of a stock depends on the sum of the value of the dividend yield and capital gains yield
dividend yield = dividend / price of the stock
capital gains yield is a change in the value of the stock as a result of appreciation in the value of the stock.
The intrinsic value of a stock can be calculated using various dividend models. some of them include :
The Gordon constant growth dividend model The two stage dividend growth model The H-model The three stage dividend growth modelThe market is in equilibrium when price equal intrinsic value
a stock is undervalued when the price of the stock is less than its intrinsic value
A stock is overvalued when the price of the stock is greater than its intrinsic value.
An investor would want to purchase a stock that is undervalued so that they can take advantage of increase in the value of the stock
Th dividend used to calculate the intrinsic value is infinite. This is because dividends are paid infinitely as long as the investor holds the stock and the company exists
What was the opening price of Dow Jones Industrial Average on Sep 28, 2017 in the format of XXXXX.XX?
Answers
The starting price was $21080.28.
Calculation
On May 30, 2017, the Dow Jones Industrial Average was:
The Dow Jones Industrial Average finished at 21029.47 on May 30, 2917, a decrease of 50.81, according to valueline.com.
Index of closure: 21029.47+ downward motion = 50.8121080.28 is the opening index.According to this, the starting price was 21080.28.
The stock performance of 30 major firms that are listed on American stock exchanges is tracked by the Dow Jones Industrial Average. It is an index of stock price. The S&P 500 Index and the NASDAQ are two more.
The day's initial average price before trading began is represented by the starting index. The price must have fluctuated, moving up and down, while trade. By adding back, it can be deduced from this closing index data that the opening price was higher than the closing price by 50.81, or around 51 basis points.To Learn more about Averages and Opening Price, Click the links.
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A group of investments sold as a package is a
Answers
Answer:
Fund or an Exchange Traded Fund (ETF)
Explanation:
This group of investments are generally called a Fund or an Exchange Traded Fund (ETF). These are various assets investments that are bundled together and sold as a single entity which investors can easily buy as one investment. This fund gives the investor easy exposure and diversification to these various assets in their portfolio, but also safety since each individual price affects the overall price of the fund but also protects the one another, meaning if one asset's price falls the other assets in the fund can even out the ROI with an increase in price.
Treasury spot interest rates are as follows: Maturity (years) 1 2 3 4 Spot rate (EAR) 1.4% 2.8% 3.6% 4.5% What is the price of a risk-free zero-coupon bond with 3 years to maturity and a face value of $1,000 (in $)? (answer,0+ decimals)
Answers
Answer: $868
Explanation:
Given the following :
Maturity (years) - - - - - - 1 - - 2 - - - 3 - - - 4
Spot rate (EAR) - - - - 1.4% - 2.8% - 3.6% - - 4.5%
What is the price of a risk-free zero-coupon bond with 3 years to maturity and a face value of $1,000 (in $)?
Face value / ( 1 + spot rate)^p+1
Where P = year
=1000/(1+3.6%)^4
1000 / ( 1 + 0.036)^4
1000/(1.036)^4
1000/1.151964303616
=$868.08245
Widgets, Inc. makes a $300 on Widhets, Inc. makes a $300 account sale to Custom Motors. How is the sale recorded in the Accounts Receivable subsidiary ledger?
A. It is recorded upon payment
B. as $300 payment
C. as $300 credit
D. as $300 debit
Answers
2 Examples of company or brand using single channel
retailing approach. Give Explanation
Answers
A single channel retailing approach refers to a strategy where a company or brand uses only one method to sell and distribute its products to consumers. This can include selling through physical stores, e-commerce websites, direct mail, or other methods.
By using only one channel, companies can simplify their operations and focus on delivering a consistent customer experience, two examples of companies that use a single channel retailing approach:
1. Warby Parker: Warby Parker is an eyewear brand that sells prescription glasses and sunglasses through its e-commerce website. The company was founded in 2010 with the goal of disrupting the traditional eyewear industry by offering high-quality, affordable glasses online. By using only one channel to sell its products, Warby Parker is able to keep its costs low and pass on the savings to customers. The company also provides a virtual try-on feature on its website, which allows customers to see how different frames will look on their face before making a purchase.
2. Tesla: Tesla is an electric car company that sells its vehicles directly to consumers through its own retail stores. The company was founded in 2003 with the goal of accelerating the transition to sustainable transportation. By using a single channel to sell its products, Tesla is able to control the entire customer experience, from the initial test drive to the final delivery. The company also provides a unique buying experience, with knowledgeable salespeople who can answer questions and help customers configure their cars to their liking.In conclusion, a single channel retailing approach can be an effective strategy for companies that want to simplify their operations and focus on delivering a consistent customer experience.
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WILL MARK BRAINLIST!
Why is it necessary to prepare a Trial Balance?
A Trial Balance is prepared to check whether the debit balance ___ the credit balance, which is the primary goal of accounting?
Answers
Answer:
Hello! Your answer shall be, BELOW
Explanation:
Preparing a trial balance for a company serves to detect any mathematical errors that have occurred in the double-entry accounting system. If the total debits equal the total credits, the trial balance is considered to be balanced, and there should be no mathematical errors in the ledgers.
A Trial Balance is prepared to check whether the debit balance FOR the credit balance, which is the primary goal of accounting?
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Answer:
Equals
Explanation:
The footwear industry in India is dominated by "B -relax Footwear". B- relax footwear
procures 70% of its raw material from " Polymers Ltd". The major production of Polymers
Ltd is plastic chips. PU foam and elastic which is used by B- relax Footwear in its
manufacturing processes. After due diligence they decided to merge with each other. If they
merge, B-relax Footwear donot need to look for a vendor and sourcing raw materials would
be easy. Whereas, if Polymers Ltd donot need to worry about sales and marketing. All they
need to do is to improve their processes to produce better raw materials for B-relax
footwear. After the merger the combined entity will be known as :B-relax Ine. (i) Identify and explain the type of merger between "B-relax footwear and
"Polymers ltd". (ii) Why is due diligence required before merger?
(iii) Which id the most dominant reason for this merger? Explain
Answers
The structure in which a firm's supply chain is integrated and owned by that company is referred to as vertical integration in microeconomics, management, and international political economy.
What is meant by Vertical Merger?A vertical merger combines two companies that are both in the same industry and at different phases of production.
To put it another way, a vertical merger is the joining and integrating of two or more companies engaged in the production of goods or services at multiple points along the supply chain.
A horizontal merger occurs when one business buys another that is in its immediate competitive range. Vertical mergers occur when one business buys another that is not directly competitive but participates in the same supply chain.
Therefore, A vertical merger is often used to describe the union of two companies that operate in different supply chain segments.
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Early on in an amortized loan the interest portion of each payment is typically ______ than the principle portion. Towards the end of the loan term the interest portion of each payment is typically ______ than the principle portion. This is because the principle remaining _______ over the life of the loan. A) less / greater / increases B) greater / less / increases C) greater / less / decreases D) less / greater / decreases
Answers
Answer:
C
Explanation:
An amortized loan is a form of loan which the principle together with the accrued interest component is gradually written off over an agreed period of time at a specified rate.An equal amount is regularly paid over the extended period.
The interest component of an amortized loan is firstly settled before considering the principle amount , which makes the interest component to be higher that the principle at the initial stages. This process leads to a reduction in the volume of the principle balance with time . Moreover , as the principle reduces with time , the interest expenses also reduces , and it eventually gets to a point where the principle component of repayment becomes greater.
At the beginning of every shift, Cody records the amount of pizza sauce in inventory. At the end of every shift, he records the number of pizzas made and the amount of pizza sauce left in inventory. Why would he do this?A) So he can determine if employees are taking sauce home.B) So he can compare the quantity used with the budgeted amount.C) So he will know how much pizza sauce to order.D) So he will know how many customers visited his pizza parlor during his shift.
Answers
Answer:
B) So he can compare the quantity used with the budgeted amount
Explanation:
For a business to keep making profit it needs to ensure that the amount of materials it is using in its production process is within a defined limit. So it sets up a budget to guide the amount of raw materials to be used.
In this scenario Cody records the amount of pizza sauce in inventory. At the end of every shift, he records the number of pizzas made and the amount of pizza sauce left in inventory.
This is done to compare quantity of raw materials used to the given budget of the business.
This check will make sure that the business stays profitable.
if the average total cost curve most resembles the average fixed cost curve, then the market is most likely a monopoly due to a government awarded patent. monopolistically competitive market. perfectly competitive market. natural monopoly.
Answers
The average fixed cost curve then the market is most likely a perfectly competitive market. Option C.
The average cost reflects the cost on a per-unit basis. A portion of the average cost is the number of variable costs that can be assigned to the production unit. The other portion is the allocation of fixed costs apportioned to each production unit.
Average Total Cost is a u-shaped curve and the vertical difference between them is AFC and this decreases as quantity increases. Both these curves are intersected at their minimum points by Marginal Cost which slopes upward. After optimization, the economy is overweight by the disadvantages that drive up the AC curve as performance improves.
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How does the text define a global leader?
What are effective ways to develop global leaders?
If "you think on-the-job development is the best way for leaders and employees to learn." Why or why not?
Answers
To develop global leaders, a combination of cross-cultural experiences, mentoring, training, and networking is necessary. On-the-job development is useful but should be complemented with other methods. A blended approach is the most effective way to prepare leaders for the complexities of a global environment.
Developing global leaders requires a combination of experiences, skills, and knowledge. Effective ways to develop global leaders include:
a) Cross-Cultural Experiences: Exposure to diverse cultures and international assignments can help leaders develop a global mindset and enhance their ability to navigate cross-cultural environments.
b) Global Mentoring and Coaching: Pairing aspiring leaders with experienced global mentors or coaches provides guidance, feedback, and insights into global leadership challenges.
c) Formal Training and Education: Offering training programs and educational opportunities focused on global leadership topics, such as intercultural communication, global business strategy, and geopolitical dynamics, can enhance leaders' understanding of global contexts.
d) Networking and Collaboration: Encouraging leaders to participate in international conferences, forums, and professional networks allows them to build relationships and collaborate with other global leaders.
Regarding the statement on whether on-the-job development is the best way for leaders and employees to learn, it depends on various factors. On-the-job development provides hands-on experience, immediate feedback, and practical application of skills, making it a valuable learning method.
However, it should be complemented with other approaches like formal training, coaching, and mentoring to provide a comprehensive learning experience. A combination of learning methods can maximize leadership development, allowing leaders and employees to acquire a broad range of skills and knowledge in different contexts.
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The cpi is a measure of the overall cost of the goods and services bought by.
Answers
The cpi is a measure of the overall cost of the goods and services bought by a typical consumer.
What is the CPI?
The consumer price index is a measure of inflation. It measure the price changes of a basket of goods bought by consumers.
CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100
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the offices broken into at the watergate complex belonged to the
Answers
The offices broken into at the Watergate Complex belonged to the Democratic National Committee (DNC).
The Watergate scandal, which occurred in the early 1970s, involved the illegal break-in and subsequent cover-up orchestrated by individuals associated with President Richard Nixon's administration. The break-in was part of a larger effort to gather intelligence and gain an advantage in the upcoming presidential election.
The illegal activities and subsequent investigations ultimately led to the resignation of President Nixon and shook the foundations of American democracy. The Watergate scandal remains one of the most significant political scandals in U.S. history, highlighting the importance of transparency, accountability, and the rule of law.
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abigail buys cookies at a local gas station for $2.00 per pack. at the grocery store, she can get 10 packs for $20. online, they will ship 15 packs to her house for $30. what is the best financial advice you can give abigail about purchasing these cookies?
Answers
Abigail can buy the cookies at any of the merchants; the cost is the same. She can buy them at any of these merchants; the cost is the same.
What does the term "financial guidance" mean?
Financial advise refers to the practice of giving others advice on the selection, purchase, or sale of financial instruments in order to achieve investment, risk management, or risk mitigation goals.
What makes financial advice so crucial?
Since you might not always have the time, a financial advisor assists you in reviewing and monitoring the performance of your investments. To make sure that your investments are in line with your financial objective, you must regularly monitor your investment portfolio.Learn more about financial advice
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whose job was it to maintain order in egypt and make sure that it didn’t slip into chaos, which is often magically done through art?
Answers
The Pharaohs of Ancient Egypt were responsible for maintaining order in the country, and they did this through a combination of art and political strategies.
Art was used to demonstrate the Pharaohs' power and authority, and to communicate their messages to the people. They commissioned lavish monuments and artwork that illustrated their divine right to rule. They also used propaganda to ensure loyalty to the Pharaoh and to their ideology. Furthermore, they built temples and other structures which served to remind people of their place in the social hierarchy and to instill a sense of order and stability.
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in reference to fixed annuities, what comprises most of a life insurance company’s general account?
Answers
In reference to fixed annuities, the majority of a life insurance company's general account is typically composed of investment-grade bonds and other low-risk fixed-income securities.
The general account is the life insurance company's main investment account that supports its fixed annuity products. The assets such as bonds and other low-risk fixed-income securities provide the financial stability and security necessary for the insurer to meet its contractual obligations to policyholders, such as paying out guaranteed interest rates on fixed annuity contracts.
The insurer's general account also includes a portion of equity investments and other higher-yield securities to generate additional income, but these investments are typically managed more conservatively than those in the insurer's separate accounts. Overall, the composition of a life insurance company's general account is designed to balance safety, liquidity, and profitability while meeting the long-term needs of policyholders.
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4. A few minutes later you came across some old commercials for the movie The Hunger Games.
Again, you realized that you learned about this type of economy in your economics class. Which type
of economic system best describes the fictional country of Panem? How can you tell?
Answers
The type of economic system that is in place in the fictional country of Panem is a Command economy.
How was Panem a command economy ?In a command economy, all economic decisions are made at the discretion of the central authority. The land and the means of production are either owned by the state or a group.
Government control, as opposed to private enterprise, according to proponents of command economies, can guarantee a just distribution of goods and services.
Panem was a command economy in the Hunger Games because the government in the Capital controlled all aspects of life in the various districts.
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is dispute a letter?
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Assignment Questions: The following entries are in the books of Ali Co. for the month of May,2021: 10th May : Establish the business with a capital of 200,000. 12th May Purchase Goods costed 10,000. : 13th May : Sold goods for 3,000 on account. 17th May : Purchase Machine costed 20,000 on account 18th May : Withdraw an amount of 50,000 for personal use. 19th May Received 3,000 from the client for goods sold on 13th May. : 20th May Bought computer for 3,000. : 21th May : Paid 2,000 for Machine purchased. 22th May Paid 5,000 for the Machine purchased on 17th May. : 23th May Sold goods for 5,000. Write (1)Journal Entries, (2)ledgers and (3)Trial balance for the transactions.
Answers
On May 10th, Ali Co. established its business with a capital of 200,000. On May 12th, they purchased goods costing 10,000. On May 13th, they sold goods on account for 3,000.
On May 17th, they purchased a machine on account costing 20,000. On May 18th, the owner withdrew 50,000 for personal use. On May 19th, they received 3,000 from a client for goods sold on May 13th. On May 20th, they bought a computer for 3,000. On May 21st, they paid 2,000 for the machine purchased. On May 22nd, they paid 5,000 for the machine purchased on May 17th. On May 23rd, they sold goods for 5,000. To record these transactions, the following journal entries, ledgers, and trial balances can be prepared. (Note: The specific account names and format may vary depending on the accounting system used.)
Journal Entries: 10th May: Cash (Dr) 200,000Capital (Cr) 200,000
12th May: Purchases (Dr) 10,000 Cash or Accounts Payable (Cr) 10,000
13th May: Accounts Receivable (Dr) 3,000 Sales (Cr) 3,000
17th May: Machine (Dr) 20,000 Accounts Payable (Cr) 20,000 18th May:
Drawing (Dr) 50,000
Cash (Cr) 50,000 19th May: Cash (Dr) 3,000 Accounts Receivable (Cr) 3,000
20th May: Computer (Dr) 3,000 Cash (Cr) 3,000
21st May: Machine (Dr) 2,000 Accounts Payable (Cr) 2,000
22nd May: Machine (Dr) 5,000 Accounts Payable (Cr) 5,000
23rd May: Accounts Receivable (Dr) 5,000 Sales (Cr) 5,000
Ledgers: - Cash - Capital - Purchases Accounts Payable Accounts Receivable- Sales Machin - Drawing - Computer Trial Balance: Prepare a trial balance by listing all the ledger account balances and ensuring that the total debits equal the total credits.
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What research will help you prepare you before you apply for a job
Answers
Answer:
What research will help prepare you before you apply for a job?
Explanation: A
paul’s boss asks him to give an update on a project he has been working on at the upcoming company meeting. what type of presentation will paul be giving?
Answers
Paul will be giving a progress report presentation on the project he has been working on.
What is progress report presentation?A progress report presentation is a type of presentation that provides updates on the status of a project. In this type of presentation, the presenter typically discusses the project's current status, highlights any accomplishments or milestones achieved, identifies any obstacles or challenges encountered, and outlines any next steps or plans for moving forward.
In Paul's case, his boss has asked him to provide an update on the project he has been working on, which suggests that he will be giving a progress report presentation. By doing so, Paul can inform his colleagues and superiors about the project's progress, help to ensure that everyone is on the same page, and facilitate effective communication and collaboration.
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Leanna opens a savings account with an initial balance of $100. She then deposits $50 each month. Use an equation, a table, and a graph to explain the relationship between the amount of money in the account, a, and the number of months since Leanna opened the account, m.
Part A Write an equation to represent the problem. Explain how the value of a changes as m increases.
Part B Make a table to show the relationship between m and a. Find 5 ordered pairs.
Part C Use your table from Part B to draw a graph to represent the situation.
Answers
Answer:
Leanna opens a savings account with an initial balance of $100. She then deposits $50 each month. Use an equation, a table, and a graph to explain the relationship between the amount of money in the account, a, and the number of months since Leanna opened the account, m.
Part A Write an equation to represent the problem. Explain how the value of a changes as m increases.
Part B Make a table to show the relationship between m and a. Find 5 ordered pairs.
Part C Use your table from Part B to draw a graph to represent the situation.
under the affordable care act which clasification applies tohealth plans based on amount covered cost
Answers
Under the Affordable Care Act (ACA), health plans are classified based on the amount of covered costs into four categories: Bronze, Silver, Gold, and Platinum.
The Bronze plans typically have the lowest premiums but the highest out-of-pocket costs, with the insurer covering about 60% of the healthcare expenses. Silver plans cover around 70% of the costs, Gold plans cover around 80%, and Platinum plans cover around 90%. These categories help consumers understand the level of coverage they can expect from a particular health plan and make informed decisions based on their healthcare needs and budget. The ACA also provides subsidies and cost-sharing reductions to make insurance more affordable for eligible individuals and families.
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Renter Expenses
What expenses do you need to budget for if you choose to rent a home? Check all that apply.
a mortgage payment
a rent payment
homeowners insurance
renters insurance
property taxes
a security deposit
utility payments
Answers
When choosing to rent a home, the following expenses should be considered and budgeted for:
Rent payment: The primary expense when renting a home is the monthly rent payment, which is typically paid to the landlord or property management company.Renters insurance: Renters insurance is a type of insurance that provides coverage for personal belongings and liability protection in case of accidents or damages within the rented property. It is generally recommended for tenants to protect their belongings.Security deposit: Most landlords require tenants to pay a security deposit upfront, which serves as a form of protection for the landlord against any potential damages or unpaid rent. The security deposit is usually refundable at the end of the tenancy, provided there are no damages beyond normal wear and tear.Utility payments: As a renter, you will likely be responsible for paying utilities such as electricity, water, gas, and possibly other services like internet and cable. These costs can vary depending on the size of the property and your usage.Homeowners insurance: Homeowners insurance is not an expense for renters. It is typically of the property owner to have insurance coverage for the property itself, including the structure and any liabilities associated with it.In summary, when renting a home, you need to budget for rent payment, renters insurance, security deposit, and utility payments. Homeowners insurance and property taxes are not expenses that renters typically have to pay.
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Answer:
b, d, f, g
Explanation:
Suppose the skills needed to perform the work in the two industries are identical, and the supply of labor to the two industries is fixed at 6,000 workers per day. What will be the equilibrium wage, and how many workers will work in each industry?
Answers
Answer and Explanation:
The computation of the equilibrium wages and the number of workers in each industry is as follows:
Since the supply of labor is 6,000
As per the attached graph, the common rate is $8 per hour so if we take 2000 workers in industry A and 4000 workers in industry b
So, the equilibrium wage would be $8
Hence, the same would be considered and relevant too
MC algo 14-5 Stock Price And Dividends A firm has a market value equal to its book value. Currently, the firm has excess cash of $6,900 and other assets of $23,100. Equity is worth $30,000. The firm has 700 shares of stock outstanding and net income of $2,800. What will the stock price per share be if the firm pays out its excess cash as a cash dividend? Multiple Choice a) $33. b) $37. c) $70.
Answers
If the firm pays out its excess cash as a cash dividend, the stock price per share will be approximately $33. The correct answer is option (a) $33.
To calculate the stock price per share after paying out the excess cash as a cash dividend, we need to subtract the excess cash from the equity and then divide by the number of shares outstanding.
Excess cash = $6,900
Other assets = $23,100
Equity = $30,000
Shares outstanding = 700
Net income = $2,800
First, let's calculate the new equity after paying out the excess cash as a cash dividend:
New equity = Equity - Excess cash
New equity = $30,000 - $6,900
New equity = $23,100
Next, we can calculate the new equity per share:
Equity per share = New equity / Shares outstanding
Equity per share = $23,100 / 700
Equity per share ≈ $33
Therefore, if the firm pays out its excess cash as a cash dividend, the stock price per share will be approximately $33. The correct answer is option (a) $33.
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for something to satisfy the medium-of-exchange function of money, it must be
Answers
To satisfy the medium-of-exchange function of money, it must be widely accepted as a form of payment for goods and services.
In other words, it should be generally recognized and used by people in exchange for the things they need or desire. Money serves as a medium of exchange when it is readily accepted as a means of payment in transactions. This acceptance creates a common standard that facilitates trade and enables individuals to exchange goods and services without the need for barter or direct trade.
For something to fulfill the medium-of-exchange function, it should possess the following characteristics. Acceptability: It should be widely accepted by individuals and businesses as a form of payment. People should have confidence that others will be willing to accept it in exchange for goods and services. Recognizability: Money should be easily recognizable and distinguishable to prevent counterfeiting or confusion. Recognizable features like specific designs, serial numbers, or security features help ensure its authenticity. Divisibility: Money should be easily divisible into smaller units or denominations. This allows for transactions of varying amounts and enables flexibility in pricing and exchanging goods and services.
Portability: Money should be portable and convenient to carry around for everyday transactions. It should be easy to transport and transfer between individuals and businesses.Durability: Money should be durable and able to withstand regular handling and circulation without significant wear or deterioration.Stability: The value of money should be relatively stable over time to maintain its usefulness as a medium of exchange. Excessive inflation or deflation can undermine its effectiveness in facilitating transactions.
By possessing these qualities, something can function as a medium of exchange and serve as a commonly accepted medium for transactions within an economy.
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To satisfy the medium-of-exchange function of money, it must be widely accepted as a form of payment for goods and services.
In other words, it should be generally recognized and used by people in exchange for the things they need or desire. Money serves as a medium of exchange when it is readily accepted as a means of payment in transactions. This acceptance creates a common standard that facilitates trade and enables individuals to exchange goods and services without the need for barter or direct trade.
For something to fulfill the medium-of-exchange function, it should possess the following characteristics. Acceptability: It should be widely accepted by individuals and businesses as a form of payment. People should have confidence that others will be willing to accept it in exchange for goods and services. Recognizability: Money should be easily recognizable and distinguishable to prevent counterfeiting or confusion. Recognizable features like specific designs, serial numbers, or security features help ensure its authenticity. Divisibility: Money should be easily divisible into smaller units or denominations. This allows for transactions of varying amounts and enables flexibility in pricing and exchanging goods and services.
Portability: Money should be portable and convenient to carry around for everyday transactions. It should be easy to transport and transfer between individuals and businesses.Durability: Money should be durable and able to withstand regular handling and circulation without significant wear or deterioration.Stability: The value of money should be relatively stable over time to maintain its usefulness as a medium of exchange. Excessive inflation or deflation can undermine its effectiveness in facilitating transactions.
By possessing these qualities, something can function as a medium of exchange and serve as a commonly accepted medium for transactions within an economy.
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Differences in production efficiencies among nations in producing a particular good result from:.
Answers
Answer:
-Different endowments of fertile soil.
-Different amounts of skilled labor.
-Different levels of technological knowledge.
Explanation:
Differences in production efficiencies among nations in producing a particularly good result from different endowments of fertile soil, different amounts of skilled labour, and different levels of technological knowledge.
What is production efficiency?Production efficiency refers to a situation in which the economy or an economic system for instance a bank, hospital, industry, or country operating within the constraints of current industrial technology cannot increase the production of one good without sacrificing the production of another good. In simple terms, the concept is illustrated on a production possibility frontier, where all points on the curve are points of productive efficiency.
An equilibrium may be productively efficient without being allocatively efficient that is it may result in a distribution of goods where social welfare is not maximized bearing in mind that social welfare is a nebulous objective function subject to political controversy. Productive efficiency is an aspect of economic efficiency that focuses on how to maximize the output of a chosen product portfolio, without concern for whether your product portfolio is making goods in the right proportion.
In misguided application, it will aid in manufacturing the wrong basket of outputs faster and cheaper than ever before.
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How does decreasing your credit card balance affect your income statement? (1 point)
It increases your monthly expenses, increasing the amount you spend each month.
It increases your monthly expenses, giving you more money to spend on other things.
It decreases your monthly expenses, increasing the amount you spend each month.
It decreases your monthly expenses, giving you more money to spend on other things.
Answers
The way in which decreasing your credit card balance would affect your income statement is that: D. It decreases your monthly expenses, giving you more money to spend on other things.
What is a credit card?A credit card simply refers to a small, rectangular flat card that is issued by a financial institution to its eligible customers, in order to avail them an opportunity to purchase goods and services on credit, especially based on the agreement that this amount of money would be paid back at a specific time and interest rate.
Generally speaking, a credit card balance can be defined as the total amount of money that an individual owe his or her credit card company. This ultimately implies that, a decrease in credit card balance would cause a decrease in monthly expenses, which avails the credit card holder more money to spend on other things.
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Answer: 1. a loan from one entity electronically matched to another entity without a financial institution in the middle
2. a payday loan
3. an unsecured installment loan
4. It decreases your monthly expenses, giving you more money to spend on other things.
5. Determine or estimate the current value of everything you own.
6. Their ability to repay a loan
7. your prior record of paying your bills and paying off your debts
8. your age and gender
9. You can request one online or over the phone.
10. He should contact the credit bureau that issued the credit report, the companies that issued the seven fraudulent cards, his local police, and the federal government at identitytheft.gov.
11. -the lender that provided the incorrect information
-the credit bureau that prepared the report
12. right away
13. She won a $20 billion settlement for California homeowners whose homes were inappropriately foreclosed on.
14. The longer the term, the more you will pay in interest.
15. It will cost you less money overall.
16. A store credit card generally comes with a higher interest rate.
17. You will save money if you pay the balance off quickly.
18. -Clarifying the confusing language found on credit card applications.
-Forcing lending companies to disclose interest rates and hidden fees.
19. It banned credit card companies from raising interest rates after missed payments.
20. -a fixed annual charge for the use of a credit card
-a charge if the minimum payment is not paid by the due date
21. paying off the balance before interest can accrue
22. $30
23. Determine which card has the higher interest rate and pay the extra money to that card first.
Explanation: All these answers are correct!