Suppose today a mutual fund contains 2,000 shares of JPMorgan Chase, currently trading at $84.75, 1,000 shares of Walmart, currently trading at $83.10, and 2,500 shares of Pfizer, currently trading at $51.50. The mutual fund has no liabilities and 10,000 shares outstanding held by investors. a. What is the NAV of the fund?
b. Calculate the change in the NAV of the fund if tomorrow JPMorgan’s shares increase to $86, Walmart’s shares increase to $88, and Pfizer’s shares decrease to $50.
c. Suppose that today 1,000 additional investors buy one share each of the mutual fund at the NAV of $38.135. This means that the fund manager has $38,135 in additional funds to invest. The fund manager decides to use these additional funds to buy additional shares in JPMorgan Chase. Calculate tomorrow’s NAV given the same rise in share values as assumed in (b).
(For all requirements, do not round intermediate calculations. Round your answers to 3 decimal places. (e. g., 32.161))
a. NAV of the Fund
b. Change in NAV
c. Tomorrow's NAV

Suppose the following items were taken from the balance sheet of nike, inc. (all dollars are in millions.) 1. cash $ 2,316.7 7. inventory $ 2,245.6 2. accounts receivable 2,786.2 8. income taxes payable 80.3 3. common stock 2,841.1 9. equipment 1,783.8 4. notes payable 291.2 10. retained earnings 6,162.5 5. buildings 3,959.7 11. accounts payable 2,624.6 6. mortgage payable 1,092.3 perform each of the following. classify each of these items as an asset, liability, or stockholders’ equity, and determine the total dollar amount for each classification. (enter amounts in millions up to 1 decimal place, e. g. 45.5 million.) cash accounts receivable common stock notes payable buildings mortgage payable inventory income taxes payable equipment retained earnings accounts payable assets $ 13092 liability $ 4088.4 stockholders’ equity $ 9003.6 etextbook and media determine nike’s accounting equation by calculating the value of total assets, total liabilities, and total stockholders’ equity. (enter amounts in millions up to 1 decimal place, e. g. 45.5 million.) total assets = total liabilities + total stockholders’ equity

17.     chef a says that garnish should be added to a soup right before serving. chef b says that garnish should be cooked with the other ingredients in a soup. which chef is correct? a. chef a is correct. b. both chefs are correct. c. chef b is correct. d. neither chef is correct. student c   incorrect which is correct answer?

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: