Answer:
Smith will report an investment income of $56,000 in its income statement.
Explanation:
Based on the information given we were told that Smith made a purchased of the amount of $522,000 of Jones shares in which as of December 31, 2021, the Jones shares also had a fair value of the amount of $578,000 this means that Smith will report an investment income of $56,000 ($578,000-$522,000) in its income statement.
Answer:
The correct answer is A
Explanation:
The current liabilities is computed as:
Current Assets (CA) = Quick assets (QA)+ Inventory (I)
CA = QA + $49,000
Acid test ratio = Quick assets / Current Liabilities (CL)
2.8 = QA / CL
QA = 2.8 × CL
Current Ratio (CR) = CA / CL
3.5 = CA / CL
Putting CA = QA + Inventory
3.5 = ( QA + $49,000) / CL
Now, Putting QA = 2.8 × CL
So,
3.5 = [( 2.8 × CL ) + $49,000] / CL
3.5 = 2.8 CL / CL + $49,000 / CL
3.5 = 2.8 + ($49,000 / CL)
3.5 - 2.8 = $49,000 / CL
0.7 = $49,000 / CL
CL = $49,000 / 0.7
CL = $70,000
Answer:
$1,000
Explanation:
Beginning balance in supplies account = $200
The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.
If at the end of the month, only $600 of supplies was still on hand total supplies expense
$200 + $1,400 - supplies expense = $600
supplies expense = $200 + $1,400 - $600
= $1,000
The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.
Both monetary and non-monetary. If "Joe" did not follow the regulations, he would receive fines. Plus, if customers got sick from him not following the regulations, he could lose his business.
In the 1960 s, PCP became commercially available for use in <u>veterinary medicine</u> as an analgesic and anesthetic, but diversion to street use led the manufacturer to discontinue production in 1978
Explanation:
<u>Phencyclidine is said to have received its name PCP—“peace pill”—</u>on the streets of San Francisco
.There are more than o<u>ne hundred variations </u>(analogs) of this substance
In the year 1960, PCP became commercially available for use in veterinary medicine as an analgesic and anesthetic, but diversion to street use led the manufacturer to discontinue production in 1978
PCP is now produced easily and cheaply in clandestine laboratories in tablet, capsule, powder, and liquid form and sometimes sold as LSD Like methamphetamine, PCP has been distributed by outlaw motorcycle clubs
