A company failed to record unrealized gains of $37 million on its available for sale debt security investments. Its tax rate is 25%. As a result of this error, comprehensive income would be:

Answers

Answer 1

Answer:

Question #1

A company failed to record unrealized gains of $32 million on its available for sale security investments. Its tax rate is 35%. As a result of this error, comprehensive income would be:

a) Understated by $20.80 million

b) Overstated by $11.20million

c) Understated by $32.00 million

d) Unaffected

Question #2

A company failed to record unrealized gains of $21 million on its trading security investments. Its tax rate is 40%. As a result of this error, total shareholders' equity would be:

a) Understated by $12.60 million

b) Understated by $21.00 million

c) Understated by $8.40 million

d) Unaffected

PLEASE show me your entire work for full credit. Thanks!!


Related Questions

An ______is a being, such as a person or company.

Answers

Cooperation would be the best answer, if not then try looking it up

3 advantages of etools it for digital marketing

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Answer:

10 Advantages Of Digital Marketing Over Traditional Marketing

Low cost: Marketing and advertising cost is one of the biggest financial burdens that businesses have to bear. ...

Huge return on investment: ...

Easy to measure: ...

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Global:

why it is so difficult to compare unemployment rates in the United States with unemployment rates in poorer countries?

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Answer:

The unemployment rate isn't an accurate measure of joblessness simply because it doesn't consider everyone who doesn't have a job

Explain the concept of interest

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Answer:

Interest is the monetary charge for the privilege of borrowing money, typically expressed as an annual percentage rate (APR). Interest is the amount of money a lender or financial institution receives for lending out money.

Universal Bank pays 7% interest, compounded annually, on time deposits. Regional Bank pays 6% interest, compounded quarterly. Based on effective interest rates, in which bank would you prefer to deposit your money?

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Rate Assumptions: 500,000 Loan, 60% Loan-To-Value, Rate and Term Refinance, 740+ Credit Score, 180-month loan term, Rate Lock of 30 days. All closing costs are rounded to the nearest discount point. Request a quote to find out what you’re eligible for. We do not require a credit check for a written quote.

Make a list of information areas that the individuals who join foreign employment should know or understand.​

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Answer:

Country can get lots of foreign currency as the remittance which can be used to establish industries in the country. Such industries provide job opportunities in the country. People who went overseas to work can learn different skills and technologies which can be beneficial for the development of our own country. Foreign employment reduces the unemployment problem of a country. It may help to develop international relations with other countries because the country has to do labour contract with other countries and embassies has to be established there.

On November 1, 2019, Davis Company issued $30,000, six-year, 7% bonds for $29,340. The bonds were dated November 1, 2019, and interest is payable each on May 1 and November 1. Davis uses the straight-line method of amortization. How much is the book value of the bonds after the November 1, 2020 interest payment was recorded using the straight-line method of amortization

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Answer:

29,700 dollars is your answer

Explanation:

Assume that the following data describes the condition of the banking system

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Answer:

what's the data?,so I can answer the question.

When Mexico suffered from capital flight in 1994, Mexico's net capital outflow a. and net exports decreased. b. and net exports increased. c. increased while net exports decreased. d. decreased while net exports increase

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Answer:

B. and net exports increased

Explanation:

Culture clashes frequently happen when ________ within an organization interpret rules differently based on their levels within the organization

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Based on sociological research study, culture clashes frequently happen when subcultures within an organization interpret rules differently based on their levels within the organization.

This is because subculture is a term that is used to describe a group of individuals within a large group, usually within an organization, who share the same characters such as problems and experience that is peculiar to them.

Culture clashes occur when this group of people with similar identity or functions interpret rules or objectives differently based on their statuses within the organization.

Hence, in this case, it is concluded that the correct answer is "Subculture."

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A company wants to cultivate brand ambassadors for their new product so that others will follow their trail. They should go after:

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A company that wants to cultivate brand ambassadors for its new product so that others will follow in its wake should go after celebrities and digital influencers who use social media to generate publicity and engagement for a product.

It's a marketing technique called celebrity endorsement, which is a strategy to reach a larger number of people through a certain celebrity's fan audience.

This is an advantageous strategy capable of increasing the brand equity, generating greater identification, engagement and influence over a product and service.

Therefore, it is necessary for the company to use celebrity endorsements by choosing ambassadors who have a profile aligned with the target audience and brand values.

In this way, influence marketing has the potential to generate trust and admiration in the consumer, thus increasing your advertising, positioning and profitability.

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Lancer, Inc. (a U.S.-based company), establishes a subsidiary in Croatia on January 1, 2019. The following account balances for the year ending December 31, 2020, are stated in kuna (K), the local currency:


Sales K 200,000
Inventory (bought on 3/1/20) 100,000
Equipment (bought on 1/1/19) 60,000
Rent expense 12,000
Dividends (declared on 10/1/20) 22,000
Notes receivable (to be collected in 2023) 36,000
Accumulated depreciation—equipment 18,000
Salary payable 5,000
Depreciation expense 6,000


The following U.S.$ per kuna exchange rates are applicable:


January 1, 2019 $0.19
Average for 2019 0.20
January 1, 2020 0.24
March 1, 2020 0.25
October 1, 2020 0.27
December 31, 2020 0.28
Average for 2020 0.26


Lancer is preparing account balances to produce consolidated financial statements.



Assuming that the kuna is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements?

Assuming that the U.S. dollar is the functional currency, what exchange rate would be used to report each of these accounts in U.S. dollar consolidated financial statements?



(For all requirements, round your answers to 2 decimal places.)

Answers

The question is about what currency rates will be used if

Assuming Kuna is the functional currency preparing accounts in US$  

Sales $769,230.77

Inventory $400,000

Equipment $315,789.47

Rent Expense $46,153.85

Dividends $81,481.48

Notes Receivable $138,461.54

Accumulated Depreciation - Equipment $69,230.77

Salary Payable $19,230.77

Depreciation Expense $23,076.72

If US$ is the functional currency, preparing accounts in Kuna

Sales K 200,000

Inventory K 100,000

Equipment K 60,000

Rent Expense K 12,000

Dividends K 22,000

Notes Receivable K 36,000

Accumulated Depreciation - Equipment K 18,000

Salary Payable K 5,000

Depreciation Expense K 6,000

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Answer:

a.  Sales 0.26

Inventory 0.28 (12/31/20 rate)

Equipment 0.28 (12/31/20 rate)

Rent Exp 0.26

Dividends 0.27 (declared date 10/1/20)

Notes Receivable 0.28 (12/31/20 rate)

Acc. Depreciation-equipment 0.28 (12/31/20 rate)

salary payable 0.28 (12/31/20 rate)

Depreciation exp. 0.26

 

b. Sales 0.26

Inventory 0.25

Equipment 0.19

Rent Exp 0.26

Dividends 0.27

Notes Receivable 0.28

Acc. Depreciation-equipment 0.19

salary payable 0.28

Depreciation exp. 0.19

Explanation:

a. We utilized the weighted average exchange rate for 2020 bec. each revenue and expense would have been recognized evenly throughout the year. Inventory, Equipment, Notes Receivable, Acc. Depreciation & Salaries payable are translated at the exchange rate in effect at the date of accounting recognition 12/31/2020. Dividends is the only acct. translated to when date of declaration.

b. All rates are the same except Inventory, Equipment, Acc. Depreciation & Depreciation Exp, they are translated at the exchange rate during purchase.

You are part of a small team that develops your company’s products. Your team is facing competition on the market and time and cost pressures internally. In order to manage these circumstances and encourage innovation, you’ve built a team culture that encourages rapidly testing and iterating upon new ideas. One of your colleagues, however, has struggled with wanting to find the perfect solution before taking action. This caused delays, impacting team performance, and frustration for many team members as they felt held back. Yet, nobody said anything to him. You want to provide him with considered feedback to help him get comfortable with experimentation and risk taking. What will you say to him? How will you give the feedback to highlight his behaviors and encourage a change? Make sure your feedback focuses on the positive: the outcome or impact your colleague will have if he changes his behavior – this will motivate and encourage him!

Answers

Answer:

Here.

Explanation:

I would say things like there's a problem with this, lets get together and fix it or this is perfect! Or this is good but we might have some adjustments to make. I would pay attention to every little detail to make this product a success!

The best approach to reach out to the affected worker would beto:

Ask him why he has a problem with finding solutions and taking actionSuggest workable solutions which you and members of the team have used successfullyExplain to him that his indecision is impacting the team work.

All these are important when giving considered feedback to the worker so that he knows how his poor performance is affecting members of his team.

Furthermore, by giving him workable solutions he would be forced to implement them and if this still does not work, it would be justified if he is replaced with a more capable worker.

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why are there so many creapy online kids make your own answer to the question

Answers

Answer:

Because they are objective-less

Explanation:

They just try to be creepy for no reason other than a passtime. Well it's their thing, I really don't understand their negative attitude.

Answer:

I feel like these people on brainly are just the cyberbullier's who just be super rude to hurt someone's emotions.

Explanation:

I also know those bots on brainly. You must know them, they literally just past a bitly link in there, and wow, like what the heck, who won't know that that is a total VIRUS! So yeah, good thing there is someone called "Katie" on brainly who clears those answers. But the problem is that, other people can't answer that question anymore.

Thanks, hope this helped you.

Compute the discounted payback period for a project with the following cash flows received uniformly within each year and with a required return of 8%:

Answers

The discounted payback period for the project is 2.33 years.

Time  Cashflow PVF at 8% Present value  Cumulative Present value

0           -$100            1                 -100                          -100

1                40       0.925926     37.03704                   -62.963

2              50        0.857339      42.86694                  -20.096

3               60       0.793832      47.62993                   27.53391

Note

The PVF for each year are derived using the PVF calculator (i.e PVF, 8%, 0 years)We can also observe that we are able to payback the money before the entire 3rd year, therefore, the 2nd year will be used in calculation of discounted payback period.

Discounted payback period = 2 Years + 20.096/47.6299

Discounted payback period = 2 Years + 0.33

Discounted payback period = 2.33 years.

Therefore, the discounted payback period for the project is 2.33 years.

Missing word includes "Compute the discounted payback period for a project with the following cash flows received uniformly within each year and with a required return of 8%: Initial Outlay = $100 Cash Flows: Year 1 = $40 Year 2 = $50 Year 3 = $60"

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Type the correct answer in the box. Spell all words correctly.
At which stage of advertising is the customer motivated to take action?
The customer is motivated to take action at the stage of ………advertising.

Answers

Answer:

motivated to take action at the product purchase stage of advertising.

Explanation:

The customer is motivated to take action at the stage of growth or early maturity advertising.

What is advertising?

The term “advertising” refers to the part of the promotion in the market. Advertising informs the consumer about the product and services available. These are the primary goals for attracting the target audience. There are the based on the marketing promotion. The advertising is the target audience.

The customer is motivated to take action during the "growth or early maturity" stage of advertising. Persuasive advertising is a type of communication that encourages customers to take action. During the expansion stage, pricing and product or service quality should be maintained, and more features and support services may be offered.

As  a result, the customer is motivated to take action at the stage of growth or early maturity advertising.

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Home Decor has a debt-equity ratio of .54. The cost of equity is 15.7 percent, the pretax cost of debt is 6.8 percent, and the tax rate is 22 percent. What will be the cost of equity if the debt-equity ratio is revised to .65

Answers

If the debt-equity ratio is revised from 0.54 to 0.65, the cost of equity will be 11.95%.

Data and Calculations:

Debt-equity ratio = 0.54

Weight of equity = 0.46 (1 - 0.54)

Cost of equity = 15.7%

Pretax cost of debt = 6.8%

Tax rate = 22%

Post-tax cost of debt = 5.3% (6.8% (1 - 22%)

Revised debt-equity ratio = 0.65

Revised weight of equity = 0.35 (1 - 0.65)

Thus, if the cost of equity is 15.7% when equity ratio is 0.46, then the cost of equity will be 11.95% (15.7%/0.46 x 0.35) when the equity ratio revises to 0.35.

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The cost of equity would 16.43% if the debt equity is revised to 0.65

Solution

The debt equity ratio = 0.54

To get the cost of the debt post tax:

= 6.8%*(1-0.22)

= 0.068*0.78

= 0.05304

= 5.304%

Next we are to get the WACC

[tex]WACC= 15.7percent*\frac{1}{1+0.54} *5.304percent*\frac{0.54}{1+0.54}[/tex]

WACC = 0.157*0.6494+0.05304*0.3506

= 0.1205

= 12.05%

Since the Debt equity ratio is revised to 0.65 and WACC stays the same

We would have

[tex]12.05percent = Ke*\frac{1}{1+0.65} +5.304percent*\frac{0.65}{1+0.65}[/tex]

0.1205 = Ke*0.606+0.05304*0.3939

0.1205 = 0.606Ke + 0.02089

We collect like terms

0.1205-0.02089 = 0.606Ke

0.09961 = 0.606Ke

Ke = 0.1643

= 16.43 percent

The cost of equity would 16.43% if the debt equity is revised to 0.65

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hi yabbo daboo gama juice

Answers

Answer:

don't even know what u really saying

Malcolm (37) is a U.S citizen

Answers

Answer: good for him

Explanation:

have no control over the price they charge for their product.
O Price takers
O Price searchers
O Price makers
O Price manipulators

Answers

Answer:

○ price makers.

Explanation:

they are the ones who make the price so they have no control over the price

Colbert Inc. acquired 100% of Stewart Manufacturing on January 2, 2020. During 2020, Colbert sold Stewart $640,000 of goods, which had cost $450,000. Stewart still owned 18% of the goods at the end of the year. In 2021, Colbert sold goods with a cost of $820,000 to Stewart for $1,000,000, and Stewart still owned 15% of the goods at year-end. For 2021, the cost of goods sold totaled $5,800,000 for Colbert, and $1,300,000 for Stewart. What was consolidated cost of goods sold for 2021

Answers

Based on the information given the consolidated cost of goods sold for 2021 is $6,092,800.

First step is to calculate 2021 Intra-Entity Gross Profit

2021 Intra-Entity Gross Profit= ($1,000,000 − $820,000) ×15%

2021 Intra-Entity Gross Profit= $180,000 ×  15%

2021 Intra-Entity Gross Profit= $27,000

Second step is to calculate 2020 Intra-Entity Gross Profit

2020 Intra-Entity Gross Profit= ($640,000 − $450,000) ×18%

2020 Intra-Entity Gross Profit=$190,000 ×18%

2020 Intra-Entity Gross Profit = $34,200

Third step is to calculate consolidated cost of goods sold for 2021 using this formula

Consolidated COGS = Parent's COGS  + Subsidiary's COGS− Total COGS in Intra-Entity Transfer − Intra-Entity Gross Profit Deferred from 2020 + Intra-Entity Gross Profit Deferred from 2021

Let plug in the formula

Consolidated COGS =$5,800,000+ $1,300,000- $1,000,000-$34,200 +$27,000

Consolidated COGS = $6,092,800

Inconclusion the consolidated cost of goods sold for 2021 is $6,092,800.

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Consequences of business policy

Answers

1. Management Should formulate business that are favorable to the interest of the society. By doing this its also promoting its own business interest. Cleary a business organization cannot operate within the a sick society.

2. •Products are adulterated. •Political bribery •Illegal gifts • and other illegal incentives.

3. Consumers are generally weak to fight such as negative business activities, particularly among the poor countries. Consumers in the rich countries are more vigilance against business abuses.

4. Management must consider the impact of every business action upon society. It has to consider whether the action is likely to promote the public good, to advance the basic beliefs of our society, to contribute to its stability, strength and harmony

5. •Should you have a partner? •What type of business organization is the best for you? •Laws that may affect you? •How can your professional help you?

6. The profit factor is a vital element of business. The first responsibility of management is to operate at a profit.

7. Consumers tend to purchase more goods at lower price. And will they get more profit because more goods are bought.

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What is a labor market?

Question 6 options:

the availability and demand for jobs in a certain area


a place where people can go to learn about jobs


an online stock exchange that tracks jobs


a career cluster dealing with manual jobs

Answers

Answer:

the availability and demand for jobs in a certain area

A labor market is simply the:

A. Availability and demand for jobs in a certain area.

Based on the given question, we can see that we need to show the correct answer to the question which asked for the definition and explanation of what a labor market is.

With this in mind, we can see that a labor market has to do with how available the demand for jobs are in a certain area and the man power that is needed to fill such vacancies.

Therefore, the correct answer is option A

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Hope Springs makes the bottles of water, puts them into storage, and fills orders as they come in from inventory. This is an example of which supply-chain strategy

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The type of  supply-chain strategy uses by Hope Spring to fills orders as they come in from inventory is called the pull supply-chain strategy.

The pull supply strategy is a manufacturing strategy that is influenced by consumer's demand because the demand are used to decide the level of procurement, production and distribution of product.

This strategy is very effective to prevent against wastage or over-production since the level of demand for the product determine the level of producing such product.

Therefore, in conclusion, the example of this is known as Pull supply-chain strategy.

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The following information relates to the acquisition of the assets of Quine Corporation by Armstrong Inc. for Year 5. Fair value of Quine GW, January 1, Year 5 60,000 Fair value of Quine GW, December 31, Year 5 55,000 When the assets were originally purchased by Armstrong on January 1, Year 1, the goodwill of the Quine business was determined to be $100,000 and would last 10 years. During Year 5, Armstrong also spent $36,000 to enhance the brand image of Quine's products and it is expected that the enhancement will have to be done again in four years. What is the amount of expense to be shown on the income statement of Armstrong Inc.

Answers

The amount of expense that Armstrong Inc. must show on its income statement is $24,000.

This amount represents the Amortization of the Brand Image Enhancement ($9,000), the Impairment Loss in the Fair Value of the acquired assets ($5,000), and the Goodwill Impairment ($10,000).

Data and Calculations:

Fair value of Quine Corporation on January 1, Year 5 = $60,000

Fair value of Quine Corporation on December 31, Year 5 = $55,000

Goodwill (acquired) on January 1, Year 1 = $100,000

Duration of Goodwill = 10 years

Cost of Brand Image Enhancement in Year 5 = $36,000

Estimated useful life of Brand Image = 4 years

Annual amortization of Brand Image = $9,000 ($36,000/4)

Impairment Loss of Fair Value of Assets = $5,000 ($60,000 - $55,000)

Goodwill Impairment = $10,000 ($100,000/10)

Total expenses = $24,000 ($9,000 + $5,000 + $10,000)

Thus, $24,000 expense will be shown on Armstrong, Inc.'s Income Statement in Year 5.

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Which statement is true about a homeowner's exemption? It must be filed every year . Certain homeowners may qualify for a $10,000 exemption . Once filed, it remains until terminated . None of the above .

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Answer:

Certain homeowners may qualify for a $10,000 exemption

In a homeowner's exemption, certain homeowners may qualify for a $10,000 exemption. The correct option is b.

What is California's homeowner's exemption?

The California Revenue and Taxation Code provide homeowners with a $7,000 reduction in the taxable value of a qualifying owner-occupied residence for purposes of computing the annual property tax assessment. With an approximate 1% property tax rate, the exemption provides roughly $70 in annual property tax savings.

The home must have been the principal residence of the owner as of January 1 of that tax year to qualify for the homeowners’ exemption. The new owner will automatically receive an exemption claim form in the mail and there is no cost to file. To receive 100% of the exemption ($7,000), an owner must file by February 15. If the form is filed after February 15 but before December 10, an owner will receive 80% of the exemption ($5,600) for that year. Once granted, the homeowners’ exemption remains in effect until the title to the property changes.

Or if the owner no longer occupies the house as their principal place of residence.

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a price setter stresses the ________ side of the pricing problem and the price is set by looking at ________.

Answers

Answer:

Cost side. second blank is the production and marketing.

If there is a planned order release of 120 units in week 5 and the lead time is 2 weeks, 120 will show up in week 7 under ________.

Answers

Considering the situation described above, the 120 units will appear in week 7 under "Scheduled Receipts."

This is because Scheduled Receipts are type receipts in supply management that document the order of items expected to be received in a given date or assigned due period.

Unlike planned order receipts, that document order that is yet to be released, Scheduled Receipts document order that has been released.

And given that the lead time is 2 weeks, and the record is in week 7, while we are in week 5 thus, it is expected that the order must have been received by then. Therefore the 120 units would be under Scheduled receipts.

Hence, in this case, it is concluded that the correct answer is "Scheduled receipt."

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During the implementation stage, the Fallon creative team works with Fallon media buyers to select and schedule the media. Because Fallon Worldwide offers a number of services including research, media, copy, artwork, and production, it would be classified as a(n)

Answers

Due to the fact that Fallon Worldwide offers a number of services including research, media, copy, artwork, and production, it would be classified as a full service agency.

A full service agency simply means a fully integrated advertising and marketing agency that provides a complete set of services. Such an agency can handle all the marketing aspects of a business.

In this case, since Fallon Worldwide offers a number of services including research, media, copy, artwork, and production, then it would be classified as a full service agency.

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Choose all that apply.

Select all strategies for correcting credit problems.


Find credit counseling services.

Take a cash advance from one credit card to pay the minimum payment on another credit card.

Continue to use credit responsibly and wait.

Ask your credit card company to waive fees or lower your interest rate.

Get help from a finance company.

Transfer credit card balances to a card or loan with lower interest rates.

Sell something of value.

Answers

Answer:

find credit counseling services,

Ask your credit card company to waive fees or lower your interest rate.

Get help from a finance company.

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