Answers
Answer:
This is my answer
Explanation:
Hope it helps
Related Questions
The Andrews Company has just purchased $43,088,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,308,800. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use?
Answers
Answer: $35,332,160
Explanation:
The boik value of the purchase will be calculated thus:
Cost of plant = $43,088,000
Useful life = 15
Savage value = $4,308,800
Depreciation per year = ($43,088,000 - $4,308,800) / 15
= $38779200/15
= $2,585,280
Accumulated depreciation after third year will be:
= $2,585,280 × 3
= $7755840
Book value = $43,088,000 - $7,755,840
= $35,332,160
Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,800,000 shares issued; Additional Paid-in Capital, $17.80 million; Retained Earnings, $10.80 million; and Treasury Stock, 58,000 shares, $1.276 million. Prepare the stockholders’ equity section of the balance sheet. (Amounts to be deducted should be indicated by a min
Answers
Answer:
$29,124,000
Explanation:
Preparation of the stockholders’ equity section of the balance sheet.
SUMMIT APPAREL Balance Sheet
(Stockholder's Equity Section)Dec-31
Stockholder's equity:
Common stock $1,800,000
Additional paid-in capital $17,800,000
Total paid-in capital $19,600,000
($1,800,000+$17,800,000)
Retained earnings $10,800,000
Less Treasury stock ($1,276,000)
Total stockholder's equity $29,124,000
($19,600,000+$10,800,000-$1,276,000)
Therefore the stockholders’ equity section of the balance sheet is $29,124,000.
All of the following are examples of qualitative information that should be collected by the financial planner EXCEPT: Group of answer choices General attitudes towards spending. Risk tolerance. Client age and number of children. Education goals.
Answers
Answer:
Client age and number of children.
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on a periodic basis.
A financial planner refers to an individual who is an expert in the planning of a financial budget for another.
A client age and number of children aren't examples of qualitative information that should be collected by the financial planner.
AutoEdge hires a new economic analyst who decides to compute marginal profit for each product line. What might cause AutoEdge to stop producing a certain auto part erroneously?
Answers
Answer:
AutoEdge will stop producing a certain auto part when its marginal profit becomes zero.
Explanation:
Marginal profit is the difference between the marginal cost of production and marginal revenue earned from the sale of the same. Marginal profit is supposed to occur when an additional unit of product or auto part is sold.
When these increment in profit stops, then the economic analyst at AutoEdge knows that it is time to stop producing additional units of the auto part. This is because increasing output no longer tends towards profit.
The new economic analyst at AutoEdge will advise management to stop increasing production when its marginal cost is equal to its marginal revenue because at that point the profit is maximized. This point where MC=MR is also the point where Marginal Profit equals zero.
This is called Shut Down point. Beyond this point, the marginal profit of the firm becomes negative. Hence any production activity carried out at this point will be termed erroneous.
Cheers
Suppose the owners of the bank contribute an additional $175 from their own funds and use it to buy securities in the name of the bank. This would increase the securities account a
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Answer: increase; capital account
Explanation:
This would increase the securities account and increase the capital account.
When owners of a company put in their own money, it increase the capital of the company and this is reflected in the capital account. This is why the sale of shares to equity holders increases the capital account.
The owners of the bank in this instance, put forward additional cash. from their own funds This will therefore increase the capital of the bank and be reflected as an increase in the capital account.
This would increase the securities account and increase the capital account.
What is capital?Capital can be defined as the amount used in commencing a business. Firms, businesses require opening capital to begin or start off their operations.
At any point owners of a company put in their own money, it will increase the capital of the company hence reflect in the capital account. This is why the sale securities to holders increases the capital account.
Hence, additional input would increase the securities account and increase the capital account.
Learn more about capital here : https://brainly.com/question/1957305
A company has $104,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $940 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
Answers
Answer:
$4,260
Explanation:
The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense is given below:
Estimated Uncollectible Accounts is
= $104,000 × 5%
= $5,200
Now
Bad debt expense is
= Estimated Uncollectible accounts - credit balance in Allowance account
= $5,200 - $940
= $4,260
Last year Carson Industries issued a 10-year, 15% semiannual coupon bond at its par value of $1,000. Currently, the bond can be called in 6 years at a price of $1,075 and it sells for $1,280. What is the bond's nominal yield to maturity
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Answer:
10.425%
Explanation:
Given :
Present value of bond, PV = 1280
Par value of bond = $1000
Annual coupon rate = 15%
Coupon payment frequency = twice a year (semiannual)
Years to maturity = 10 years
Using the information above by inputting into a financial calculator, the bond's nominal yield to maturity output is : 10.425%
Yield to maturity (YTM) : 10.425%
It could also be used with the PMT value :
PMT = par value * coupon rate /2
PMT = (1000 * (0.15/2)) = $75
PERIOD, n = 10 years ; semiannual = twice a year ;
n = 10 * 2 = 20
Also using this values with the financial calculator, gives 10.425%
a. Due to high demand and high prices, profits in the carpet-painting industry are at all-time highs. Since the carpet-painting industry is perfectly competitive, this will cause firms to (Click to select) in the long run. b. You observe high profits in the perfectly competitive pencil eraser industry. In the long run, you expect those profits to (Click to select) .
Answers
Answer:
enter into the industry
fall
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
Networks are proven to be relevant in the context of innovation and entrepreneurship. Explain
the main features of an entrepreneurial network including the role of personal contact networks
and how they are developed over time by explaining at least three approaches that can be used to
manage network relationships. Support your answer with examples
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Answer:
Accommodation
Engagement Refinement
Explanation:
In the entrepreneurial ecosystem, networks still remain a popular and important aspect which is often thought and seen as a stepping stone to achieving entrepreneurial greatness. This network simply entails the creation of a circle or set of skilled individuals usually in different strategic areas of specialization relevant to a certain business line or sector. This way embarking on projects tends to be much easier as these networks of people can offer help, tips or together engage in to proffer solution on time. Networks are created usually through meetups and good interpersonal relationships. Having professionals around can speed up processes and. However, networks has to be properly managed usy be being accommodating and warm when approcached; frequent engagement topics and trending issues, including the desire to learn more and measure up to new trends.
Hypercompetitive environments are most common among global competitors, and Lululemon would fall into this category. Which of the following is a characteristic of hypercompetition that is an essential part of Lululemon's strategic management process?
a. High barriers to entry
b. A low-cost environment
c. A monopoly on resources
d. Successful innovation
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Answer:
d. Successful innovation
Explanation:
The company should focused on the innovation of the product and the technology in order to develop the innovative yoga pants along with the fabrics. So for successful innovation it represent the key to received the competitor head for the hypercompetitive environment
So as per the given situation, the option d is correct
And, the same should be considered
The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a Redmond, Washington, industrial park. Listed below are some of the costs that are incurred at the company.
For each cost, indicate whether it would most likely be classified as direct labor, direct materials, manufacturing overhead, selling, or an administrative cost.
1. The wages of the assembly shop's supervisor.
a. Direct labor cost
b. Direct materials cost
c. Manufacturing overhead cost
d. Marketing and selling cost
e. Administrative cost
2. The wages of the company's accountant.
a. Direct labor cost
b. Direct materials cost
c. Manufacturing overhead cost
d. Marketing and selling cost
e. Administrative cost
3. Depreciation on equipment used to test assembled computers before release to customers.
a. Direct labor cost
b. Direct materials cost
c. Manufacturing overhead cost
d. Marketing and selling cost
e. Administrative cost
4. Rent on the facility in the industrial park.
a. Direct labor cost
b. Direct materials cost
c. Manufacturing overhead cost
d. Marketing and selling cost
e. Administrative cost
Answers
Answer and Explanation:
The classification is as follows;
1. Since the wages are to paid for supervising the assembling process so the same is related to the factory operations therefore considered to be the manufacturing overhead cost
2. The wages paid to the accountant so classified as the administration cost
3. The depreciation is the manufacturing overhead cost as it is the indirect cost.
4. The rent facility should be classified as the manufacturing overhead cost and distributed as per the cost drivers.
Does an organization/job exist if there are no people present?
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Answer:
yes an organization/ job will always exist even if no one wanted the job or no one presented because its part of a buissness requirement
hope this helps!
The net present value of an investment to purchase a solar PV system that costs $10,000 and saves $2,000 per year for 20 years, and will increase the cost of reroofing by $5,000 in year ten, if your next best investment is 3% per year is about:
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Answer:
The net present value of an investment to purchase a solar PV system that costs $10,000 and saves $2,000 per year for 20 years, and will increase the cost of reroofing by $5,000 in year ten, if your next best investment is 3% per year is about:
= $16,040.
Explanation:
a) Data and Calculations:
Investment cost for the purchase of a solar PV system = $10,000
Cost of reroofing in year ten = $5,000
Annual savings = $2,000
Period of investment = 20 years
Discount rate = 3%
Present value of Costs:
Investment at year 1 = $10,000
Re-Roofing cost in year ten = 3,720 ($5,000 * 0.744)
Total PV of costs = $13,720
Present value annuity factor at 3% for 20 years = 14.88
Present value of savings = $29,760 ($2,000 * 14.88)
Net present of the investment = $16,040 ($29,760 - $13,720)
If a firm buys a building so as to have office space for its workers, the monthly opportunity cost of the building is best measured as
Answers
Answer:
A. the rent the firm could earn if it rented the building to another firm
Explanation:
O A. the rent the firm could earn if it rented the building to another firm O B. the price the firm paid divided by twelve O C. the monthly mortgage payment the firm must pay O D. zero. Click to select your ans e here to search
There are two types of costs
1. Implicit cost or opportunity cost : Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. It is used in calculating economic profit
By using the office space for workers, the firm is forgoing the opportunity to rent out the space to another firm. The rent the firm could have earned is the opportunity cost
2. Explicit cost : It includes the amount expended in running the business. It is used in calculating accounting profit
They are : the monthly mortgage payment the firm
total amount expended in building
1. Discuss the consumer decision making process for a product such as canned/packaged tuna and the response hierarchy model this is most likely to be applicable in the purchase of this product.
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Answer
Because of the shift away from media promoting, the dynamic interaction has changed incredibly. When media promoting was weighty with COSI and StarKist, customers had gotten used to seeing the advertisements and their separate symbols. Buyers were extremely faithful to a particular brand and the reliability outgrew the recognizable symbols "Charlie the Fish" and the mermaid for COSI. Since the center has moved to principally print advertisements, advancements coming up, and coupons, there is something else entirely to keep the customer dynamic cycle occupied. An item, for example, canned fish isn't a need, and in this way can without much of a stretch be supplanted by substitutes. There is more seriousness since a buyer could simply pick a brand since it is the least expensive at a specific store or in light of the fact that they discovered a coupon in a notice. Brand devotion is done being squeezed into shoppers' psyches through business spots with an agreeable mermaid. Presently, organizations are battling to offer more advancements or more limits to build deals, yet the outcome is that for certain buyers each excursion to the store could end with an alternate brand on fish being bought. Purchasers are presently being reached at home through paper advertisements, intelligent item sites, and different advancements. Clients might have settled on their choice before going on an outing to the store. Clients would have followed the Progressive system of Impacts Model before the promoting endeavors moved from media publicizing. Shoppers knew about the brands since they were faithful and fabricated inclinations after some time that prompted buying one brand over the other. Presently, the last buy isn't driven by dedication, however rather each buy has the customer taking a gander at a few components. The activities of retail deals, print advertisements, or different advancements influence their purchasing conduct.
Dobbs Company issues 6%, two-year bonds, on December 31, 2018, with a par value of $106,000 and semi-annual interest payments.
Semi-annual Period-End Unamortized Discount Carrying Value
(0) 12/31/2018 $6,120 $99,880
(1) 6/38/2019 4,598 101,410
(2) 12/31/2019 3,868 102,940
(3) 6/38/2020 1,538 104,470
(4) 12/31/2020 0 106,000
Required:
Use the above straight-line bond amortization table and prepare journal entries for the following:
a. The issuance of bonds on December 31, 2018.
b. The first through fourth interest payments on each June 30 and December 31.
c. The maturity of the bonds on December 31, 2020.
Answers
Answer: See explanation
Explanation:
a. The issuance of bonds on December 31, 2018.
Dec 31, 2018.
Debit Cash $99880
Debit Discount on bonds payable $6120
Credit Bonds payable $106000
(to record bond issue)
b. The first through fourth interest payments on each June 30 and December 31.
June 30
Debit Interest expense = $4718
Credit Discount on bonds payable = $1538
Credit Cash (106000×6%×6/12) = $3180
(To record interest)
Dec, 31.
Debit Interest expense = $4718
Credit Discount on bonds payable = $1538
Credit Cash (106000×6%×6/12) = $3180
(To record interest)
June 30
Debit Interest expense = $4718
Credit Discount on bonds payable = $1538
Credit Cash (106000×6%×6/12) = $3180
(To record interest)
Dec, 31
Debit Interest expense = $4718
Credit Discount on bonds payable = $1538
Credit Cash (106000×6%×6/12) = $3180
(To record interest)
c. The maturity of the bonds on December 31, 2020.
Dec 31,2020
Debit Bonds payable = $106000
Credit Cash = $106000
(To record retirement)
In the market for tomatoes, assume the market demand is perfectly inelastic and the market supply is inelastic. If a tax is placed on the suppliers in this market, how will the tax burden be distributed
Answers
Answer:
Consumers will bear all the tax
Explanation:
O Consumers will bear a greater burden of the tax, but not all the tax. O Consumers and producers will bear the tax burden equally O Producers will bear all the tax Consumers will bear all the tax O Producers will bear a greater burden of the tax, but not all of the tax.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
The party with the less elastic demand bears the tax burden
Your firm has the responsibility to review transactions and activities occurring after the year-end to determine whether anything occurred that might affect the statements being audited. The procedures required to verify these transactions are commonly referred to as the review for _______ Group of answer choices contingent liabilities. subsequent events. late unusual occurrences. subsequent year's transactions.
Answers
Answer: Subsequent events
Explanation:
Reviewing transactions is what gives accountability in organization, without this organizations would not know when they are running at a loss or making gains. The best time to do this is at the end of yearly transactions, the procedure required to verify this transactions are referred to as subsequent events, meaning events that happened as time went on.
This act is carried out most times by auditors
Mary-Jo owns a theater. She purchased a new computer to run the accounting software and lighting for the theater. The computer cost $2,000 and was purchased on May 4, 2020. It was the only equipment purchased by the theater for 2020. Using the MACRS system, how much is her depreciation deduction for 2020
Answers
Answer:
The depreciation for 2020 is $233.33
Explanation:
Under the MACRS, computer useful life is 5 years.
The depreciation rate for every year, applying double declining method is: 100% / 5 = 20%. So, depreciation expenses for first year of the computer is calculated as: Cost of the computer x 20% = = 2,000 x 20% = $400.
As the computer is purchased in May, the year 2020 would only account for 7 month out of the first year of depreciation. Thus 2020 depreciation expenses = First year depreciation x 7/12 = 400 x 7/12 = $233.33
True or false:
SOX compliance law now holds CEOs and CFOs of publicly traded companies accountable for their actions as officers in a publicly traded company.
Answers
I’m sorry if I’m wrong
Priyanka is a branch manager at a bank in town. She hires Hudson, who comes with strong references and several years' experience, as a bank teller. Several months later, Priyanka is surprised to be personally named in a lawsuit alleging that Hudson misrepresented the bank's products by promising new account holders $1,000 for starting a savings account. Is Priyanka, as Hudson's manager, personally liable for the tort
Answers
Answer: Yes. because Priyanka is Hudson's manager and so his liability extends to her.
Explanation:
Based on the information given, it should be noted that Priyanka, as Hudson's manager, personally liable for the tort.
In this case, Priyanka is Hudson's manager and so his liability extends to her. Priyanka will be liable based on the employee-employer ground and will be liable since she hired Hudson.
A firm has an equity multiplier of 1.57, an unlevered cost of equity of 14 percent, a levered cost of equity of 15.6 percent, and a tax rate of 21 percent. What is the cost of debt
Answers
Answer:
10.45%
Explanation:
Calculation to determine the cost of debt
B/S = 1.57 − 1
B/S = .57
.156 = .14 + .57(1 −.21)(.14 − RB)
.156 = .14 + .57(.79)(.14 − RB)
RB = .1045*100
RB= 10.45%
Therefore the cost of debt is 10.45%
Kohl Co. provides warranties for many of its products. The January 1, 2019, balance of the Estimated Warranty Liability account was $55,726. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 0.84% of sales. During 2019, the actual cost of servicing products under warranty was $16,290, and sales were $5,870,500.
Required:
a. What amount of Warranty Expense will appear on Kohl Co.'s income statement for the year ended December 31, 2019? Warranty Expense Actual warranty expense Estimated warranty expense Warranty Expense
b. What amount will be reported in the Estimated Warranty Liability account on the December 31, 2019, balance sheet?
(Amounts to be deducted should be indicated by minus sign.) Estimated Warranty Liability, 1/1/19 balance Estimated Warranty Liability 12/31/19 balance
Answers
Answer:
a. Warranty Expense = Sales * Estimated Warranty Percentage
Warranty Expense = $5,870,500 * 0.84%
Warranty Expense = $49,312.20
b. Beg. Bal. of Estimated Warranty Liability Jan. 1, 2019 $55,726
Less: Actual warranty costs in 2019 ($16,290)
Add: Warranty expense accrued in 2019 $49,312.20
Ending Balance of Estimated Warranty Liability Dec. 31, 2019 $88,748.20
The initial investment needed is $500,000 and the expected cash flows from this project will be 70,000 for the next 10 years. Will your project be approved, (generates a return higher than 12%). What cash flow would be required to get your project approved
Answers
Answer:
first part
Initial outlay = -$500,000
10 future cash flows = $70,000
PV of 10 future cash flows = $70,000 x 5.6502 (PVIFA, 12%, 10 periods) = $395,514
NPV = -$500,000 + $395,514 = -$104,486
the project will be rejected
second part
in order to have an NPV ≥ 0
annual cash flow = $500,000 / 5.6502 = $88,492.45 or higher
If a security of $10,000 will be worth $15,036.30 seven years in the future, assuming that no additional deposits or withdrawals are made, what is the implied interest rate the investor will earn on the security
Answers
Answer:
6%
Explanation:
Implied interest rate = (Future value / present value)^(1/n) - 1
n = number of years
($15,036.30 / $10,000) ^(1/7) - 1
1.503630^(1/7) - 1
= 1.06 - 1 = 0.06 = 6%
A college charges a basic fee of $100 per semester plus an additional fee of $50 per credit hour. You take 10 credit hours this semester. The marginal cost to you of the 10th credit hour this semester is:
Answers
Answer:
The marginal cost of the 10th credit hour this semester is:
= $50
Explanation:
a) Data and Calculations:
Basic fee (Fixed cost) per semester = $100
Additional fee per credit hour = $50
Taking 10 credit hours will cost = $600 {$100 + ($50 * 10)}
b) Marginal cost is the differential change in the total cost that is incurred when the credit hours are increased by one credit hour by the student for this semester. It is also equal to the $50 that the college charges per credit hour.
The following units of an inventory item were available for sale during the year. Beginning inventory 10 units at $55 First purchase 25 units at $60 Second purchase 30 units at $65 Third purchase 15 units at $70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The ending inventory cost using FIFO is
Answers
Answer:
$1,375
Explanation:
Given the information above, the Ending inventory = Units available - Units sold
Units available = 10 + 25 + 30 + 70 = 80
Units sold = 60
Ending inventory = 80 - 60
Ending inventory = 20
Cost of ending inventory under FIFO
= (15 × $70) + (20 - 15) × $65
= $1,050 + $325
= $1,375
Therefore, the ending inventory cost using FIFO is $1,375
Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of cash flows: a. Repurchase of common stock b. Cash received from customers c. Payment of accounts payable d. Retirement of bonds payable e. Purchase of equipment f. Purchase of inventory for cash
Answers
Answer:
Identification of Transactions as Operating, Investing, or Financing Activity
Transaction Activity
a. Repurchase of common stock Financing (Outflow)
b. Cash received from customers Operating (Inflow)
c. Payment of accounts payable Operating (Outflow)
d. Retirement of bonds payable Financing (Outflow)
e. Purchase of equipment Investing (Outflow)
f. Purchase of inventory for cash Operating (Outflow)
Explanation:
Operating activities show the cash activities that produce revenue and net income for the entity.
Investing activities are cash activities involved in the purchase and sale of noncurrent assets and other non-cash equivalent investments.
Financing activities are cash activities related to noncurrent liabilities and owners' equity.
Suppose that at 500 units of output marginal revenue is equal to marginal cost. The firm is selling its output at $5 per unit and average total cost at the 500 units of output is $6. Its total fixed cost id $2000. On the basis of this information we:
A) can say that the firm should close down in the short run
B) can say that the firm is maximizing profit in the short run
C) cannot determine whether the firm should produce or shut down in the short run
D) can assume the firm is not using the most efficient technology
Answers
Answer: D) can assume the firm is not using the most efficient technology
Explanation:
The profit maximizing point of production for a company is the point where the marginal cost of production equals the marginal revenue. At this point, resources are being fully utilized efficiently to produce goods and any increase in production quantity would result in a loss.
In this case however, the company is at the profit maximizing quantity and still making a loss (selling price is less than average total cost). This can only mean that the company is not utilizing resources efficiently and this can be due to a lack of efficient technology.
Milton Corporation gives the preferred stockholders an annual dividend of $5 per share. Each share of stock sells for $100 and selling costs of $3. What is the company's cost of preferred stock
Answers
Answer:
Milton Corporation
The company's cost of preferred stock is:
= 5.2%.
Explanation:
a) Data and Calculations:
Annual dividend per share = $5
Selling price of preferred stock = $100
Flotation cost per share = $3
The Company's cost of preferred stock, using the flotation cost is = Dividend per share/(Selling price - Flotation cost per share)
= $5/($100 - $3)
= $5/$97
= 0.052
= 5.2%
If the flotation cost was not incurred in the current period, the cost of preferred stock will be = $5/$100 = 0.05 = 5%
