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2 years ago

The general ledger of Vance Corporation as of December 31, 2021, includes the following accounts:

Business

1 answer:

babunello [35]2 years ago

6 0

Answer:

$620,000

Explanation:

Particulars Amount

Deposits with advertising agency (Prepaid expenses) $0

Discount on bonds payable (Contra account) $0

(Goodwill) Excess of cost over fair value of $480,000

identifiable net assets of acquired subsidiary

Trademark $90,000

Total intangible assets $620,000

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Earl Miller, owner of a Papa Gino's franchise, wants to buy a new delivery truck in 6 years. He estimates the truck will cost $3

Studentka2010 [4]

Answer:

No, he will not have enough money to buy his delivery truck at the end of 6 years.

Explanation:

To find how much money Earl Miller, owner of Papa Gino's franchise, will have in 6 years, you must calculate the value of the $20,000 that he invests at the 5% compounded semiannually:

Semianual compounded interest: 5% / 2 = 0.05/2 = 0.025

Equation:

$Value=Investment\times (1+r/n)^{(n\times t)}$

Where r/n was already calculated: r/n = 0.05/2 = 0.025; and t is the number of years: 6.

$Value=\$20,000\times (1+0.025)^{(2\times 6)}\\\\Value=\$26,899.78$

Hence the value of the money invested is less than the value of the truck, and he will not have enough money to buy his delivery truck at the end of 6 years.

3 0

2 years ago

. A company is authorized to issue 750,000 shares of $5 par value common stock. Prepare journal entries to record the following

Rudiy27

Answer:

The answers are:

January 10

Cash $816,000

Common stock $510,000

Contributed capital in excess

of par value, common stock $306,000

January 15

Equipment $80,000

Common stock $50,000

Contributed capital in excess

of par value, common stock $30,000

February 1

Organizational expenses $3,000

Common stock $25,000

Contributed capital in excess

of par value, common stock $500

Explanation:

Contributed capital in excess of par value is the amount of money (or other assets) over the par value of stock (in this case $5 per common stock) that the company received form shareholders in exchange for stock.

5 0

2 years ago

A major bank has an application where customers can see their balances in their checking accounts, the positions in their broker

Leokris [45]

Answer:

The correct answer is letter "D": The customer service center.

Explanation:

The customer service center is a web attractor that allows customers to self-assist in basic operations or by accessing basic data of their own. Balances, statements, payment history, and recent transactions are among the information consumers can access to in a blink of an eye thanks to this online data feed. In case a piece of information is unclear, this feed usually has direct access to reach a customer service representative for an explanation.

5 0

2 years ago

Colorado Traffic laws are revised each year by

neonofarm [45]

Puppies :D
I can explain this because this is how or entire country should be ran. Puppies are answers to everything. Don't @ me. ;)

5 0

2 years ago

Campus Theater adjusts its accounts every month. The company's unadjusted trial balance dated August 31, current year, appears a

svetlana [45]

Answer:

Debit Rental expense $18,240 Credit Prepaid Rent expense $18,240

Debit depreciation$840 Credit Accumulated depreciation on Building $840

Debit depreciation $720 Credit Accumulated depreciation on fixtures and equipment $720

Debit Interest expense $1,800 Credit Accrued interest payable $1,800

Debit Unearned admission Revenue $600 Credit Revenue $600

Debit Accounts Receivable $2,700 Credit Concession Revenue $2,700

Debit Salaries expense $2,040, Credit Salaries Payable $2,040

Debit Income tax Expense $5,040 Credit Current Tax Payable $5,040

Debit Utility expense $12,600 Credit Utility bills $12,600

Explanation:

Depreciation : Building = 201,600/240 = $840

4 0

2 years ago