Final Answer:
Verge Ltd is a public company limited by shares. This classification is based on the equal voting rights associated with the different classes of shares issued by the company.
Explanation:
Verge Ltd is classified as a public company limited by shares based on the information provided. In this type of company, shares are issued to the public, and the shareholders have voting rights equal to the number of shares they hold. This implies that each class of shares, whether it's class A, B, C, or D, holds equal voting rights.
The other options, such as being a proprietary company, an unknown entity, a listed no liability company, an incorporated association, or a public company limited by guarantee, do not align with the characteristics of the company as described in the question.
Public companies limited by shares are typically larger entities, and they offer shares to the general public for trading on the stock exchange. The fact that Verge Ltd has issued shares with equal voting rights suggests that it is a publicly traded company.
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#SPJ11
D. Higher education costs continue to rise and create problems for students.
Answer:
Economic profit = $-40,000
Accounting profit = $115,000
Explanation:
Accounting profit is total revenue less total cost or explicit cost.
Accounting profit = Total revenue - Total cost
Total revenue = 25,000 x $15 = $375,000
Total cost = $260,000
Accounting profit = $375,000 - $260,000 = $115,000
Economic profit is accounting profit less implicit cost or opportunity cost
Economic profit = Accounting profit -Implicit cost
= $115,000 - $155,000 = $-40,000
I hope my answer helps you
Answer:
Accounting Profit = $115.000 and Economic Profit= -40.000
Explanation:
Accounting profit is the monetary costs a firm pays out and the revenue a firm receives.
Accounting Profit = Total Revenues - Explicit Costs
Accounting Profit = ($15 x 25000) -$260,000=375.000-$260,000
Accounting Profit = $115.000
Economic profit is the difference between the total revenue received by a business and the total explicit and implicit costs for a firm.
Economic Profit = Accounting Profit - Implicit Cost
Economic Profit= $115.000 -$155,000
Economic Profit= -40.000
Book Value Fair Value
Buildings (10-year life) $10,000 $8,000
Equipment (4-year life) 14,000 18,000
Land 5,000 12,000
Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years.
In consolidation at December 31, 2011, what adjustment is necessary for Hogan's Equipment account?
A) $1,800 increase
B) No adjustment is necessary
C) $2,000 increase
D) $1,800 decrease
E) $2,000 decrease
Answer:
Option (C) is correct.
Explanation:
Increase in equipment value as on 01-Jan 2019:
= Market value - Book value
= $18,000 - $14,000
= $4000
Depreciation for 2019:
= $4000 ÷ 4
= $1000
Depreciation for 2020:
= $4000 ÷ 4
= $1000
In consolidation adjustment to equipment at Dec 31,2020:
= Increase in equipment value - Depreciation for 2019 - Depreciation for 2020
= $4000 - $1000 - $1000
= $2000 Increase
To adjust Hogan's Equipment account in the consolidation, an increase of $1,800 should be made, representing the amortization of the fair value adjustment for McGuire's share of Hogan over two years.
The question at hand involves determining the necessary adjustment for Hogan's Equipment account in the consolidation process on December 31, 2011, after McGuire Company acquired 90 percent of Hogan Company. Given that the book value of Hogan's equipment is $14,000 and the fair value is $18,000, there is a $4,000 fair value increment. Since the equipment has a useful life of 4 years, $1,000 ($4,000/4 years) should be amortized each year.
By the end of 2011, this amortization impact for two years ($1,000 * 2) should be $2,000. However, McGuire only owns 90% of Hogan, so the adjustment for the Equipment account on McGuire's consolidation worksheet is $1,800 ($2,000 * 90%). Thus, the correct adjustment is a $1,800 increase in the Equipment account to reflect the amortization of the fair value adjustment for McGuire's share of Hogan.
#SPJ3
b. unilateral
c. mutual
d. rescission
e. fraudulent
Answer:
The correct answer is (B)
Explanation:
The unilateral mistake can incorporate various parts of the agreement including explicit laws, facts, or term definitions. Going into a legitimate agreement necessitates that the two gatherings completely comprehend the terms and duties of the agreement. A case of a unilateral failure happens when one of the gatherings does not understand every aspect of the agreement. Unilateral failures will in general be more typical than bilateral when managing contracts.