Answer:
1. Dr Cash$30,000
Dr Equipment (Long-term asset) $77,000
Cr Share Capital (Owner’s Equity) $92,000
Cr Bank Loan (Liability) $15,000
2.Dr Cash $37,000
Cr Share Capital (Owner’s Equity) $37,000
Explanation:
1. Preparation for the journal entries to record Moss’s investment
Dr Cash$30,000
Dr Equipment (Long-term asset) $77,000
Cr Share Capital (Owner’s Equity) $92,000
Cr Bank Loan (Liability) $15,000
( Being to record initial capital investment of Moss’s )
2. Preparation for the journal entries to record Barber’s investment
Dr Cash $37,000
Cr Share Capital (Owner’s Equity) $37,000
( Being to record initial capital investment of Barber's )
Alexis transferred $400,000 to a trust with directions to pay income to her spouse, William, for his life. After William's death the corpus of the trust will pass to William's son. If the life estate is valued at $72,000, what is the total amount of the taxable gifts??
a. $386,000
b. $59,000
c. $374,000
d. $324,000
e. None of these
Answer:
the total amount of the taxable gifts is $385,000
Explanation:
The computation of the total amount of the taxable gifts is shown below:
= (The value of the estate - annual exclusion amount) + (transferred amount - The value of the estate)
= ($72,000 - $15,000) + ($400,000 $72,000)
= $385,000
hence, the total amount of the taxable gifts is $385,000
This is the correct answer but the same is not provided in the given options
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Tempo Company's fixed budget (based on sales of 16,000 units) for the first quarter reveals the following
FixedBudget
Sales (16,000 units X $211 per unit) 2184,000
Cost of goods sold
Direct materials 322,000
Direct labor 602,000
Production supplies 392,000
Plant manager salary 122,000 14,38,000
Gross profit 13,76,000
Selling expenses
Sales commissions 112,000
Packaging 210,000
Advertising 100,000 422,000
Administrative expenses
Administrative salaries 172,000
Depreciation-office equip. 142,000
Insurance 112,000
Office rent 122,000 548,000
Income from operations 406,000
(1) Compute the total variable cost per unit.
(2) Compute the total fixed costs.
(3) Compute the income from operations for sales volume of 14,000 units.
(4) Compute the income from operations for sales volume of 18,000 units.
Answer:
Part 1
Consider the incremental effects as follows
Sales (2,300 × $75) $172,500
Less Variable Costs ( 2,300 × $25) ($57,500)
Contribution $115,000
Less Fixed Costs ($12,500)
Change in Operating Income $102,500
Part 2
Consider the incremental effects as follows
Sales (2,300 × $75) $172,500
Less Variable Costs ( 2,300 × $25) ($57,500)
Contribution $115,000
Less Fixed Costs ($12,500)
Change in Operating Income $102,500
Part 3
Consider the incremental effects as follows
Sales (2,300 × $75) $172,500
Less Variable Costs ( 2,300 × $25) ($57,500)
Contribution $115,000
Less Fixed Costs ($12,500)
Change in Operating Income $102,500
Baker is single and earned $225,200 of salary as an employee in 2018. How much should his employer have withheld from his paycheck for FICA taxes? (Rounded to the nearest whole dollar amount)
A) $11,453
B) $10,861
C) $10,415
D) $15,892
Answer: $11,453
Explanation:
In 2008:
FICA-Social Security tax was payable at 6.2% of a limit of $128,400.
FICA-Medicare tax was payable at 1.45% of the total amount of $225,200.
Additional Medicare tax was payable on any amount in excess of $200,000 at 0.9%.
= (6.2% * 128,400) + (225,200 * 1.45%) + ( (225,200 - 200,000) * 0.9%))
= $11,453
The base price is $120,000, and shipping and installation costs would add another $15,000. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $70,000 what is the initial year 0 cash flow for the milling machine
Answer:
$-135,000
Explanation:
The year 0 cash flow is the cost of the machine
Total cost of the machine = base price + shipping and installation costs
$-120,000 + $-15,000 = $-135,000
Mark, a project manager for a bottling company, has a $500,000 budget. As of today's date, $100,000 has been spent on the project. What is the project's actual cost?
a. $500,000
b. $400,000
c. $250,000
d. $100,000
Your Boston-headquartered manufacturing company, Wruck Enterprises, obtained a 54-million-peso loan from a Mexico City bank last month to fund the expansion of your Monterrey, Mexico, plant. The exchange rate was 14 U.S. cents per peso when you took out the loan, but since then the exchange rate has dropped to 7 U.S. cents per peso. Has Wruck Enterprises made a gain or a loss due to the exchange rate change, and how much
Answer: 3.78 million dollars
Explanation:
Based on the information given in the question, the amount of money that Wruck Enterprises would pay when the exchange rate is 7 US cents per peso would be:
= 54-million × 7 cent
= 378,000,000 cent
= 3.78 million dollars
When the exchange rate was 14 U.S. cents per peso , the amount paid would have been:
= 54 million × 14 cent
= 756,000,000 cent
= 7.56 million dollars
Therefore, Wruck Enterprises made a gain of (7.56 million - 3.78 million) = 3.78 million dollars
Last year Submarine's sales were $25 million. If sales grow at 8% per year, how large (in millions) will they be 6 years later?
Answer:
The answer is $39.67 million
Explanation:
N(Number of years/Number of periods) = 6
I/Y(Yield-To-Maturity) = 8 percent
FV(Future value/Par value) =?
PV(present value or market value) = $25 milllion
Now to solve this, lets use a financial calculator (e.g Texas BA II plus)
N= 6; I/Y = 8%; PV = -25; CPT FV = 39.67
Therefore, in 6 years, the money will be $39.67 million.
A wholly owned international subsidiary exists when a company owns 100% equity control of a foreign subsidiary.
a. true
b. false
Answer: a. true
Explanation:
A wholly owned subsidiary as the term implies means that the company is question has all 100% of its equity owned by another company which will be referred to as the parent company.
If the company(subsidiary) happens to be in another country and is still 100% owned by a company not in the country, the subsidiary is a wholly owned international subsidiary.
Rita wants to be involved in business. She has a fair amount of money to invest, but she does not want to be involved in management. She wants to form a business in the quickest way possible under her circumstances. Which form of business would be best for Rita?
A. Limited partnership
B. Sole proprietorship
C. LLC
D. Corporation
The form of business that would be best for Rita, based on her money and her unwillingness to be in management, is A. Limited partnership
What is a Limited partnership?A limited partnership consists of one or more limited partners and a general partner, who administers the company and is personally liable for all debts and obligations of the partnership but has limited liability.
Rita's best course of action will be a limited partnership because limited partners (who invest their money or property in the business, do not have the right to make decisions regarding the operation of the business, and do not have personal liability for business debts). The limited partnership was created to give limited partners the opportunity to invest in the company without having to worry about personal liability.
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The current FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both taxes are applied to the first $6,000 of an employee's pay. Assume that an employee earned total wages of $11,100. What is the amount of total unemployment taxes the employer must pay on this employee's wages?
A.) $688.20.
B.) $0.00.
C.) $599.40.
D.) $88.80.
E.) $372.00.
Answer: E.) $372.00.
Explanation:
FUTA and SUTA are applied on the first $6,000.
FUTA Tax = 0.8% * 6,000
= $48
SUTA Tax = 5.4% * 6,000
= $324
Total Unemployment tax = 324 + 48
= $372
A system that monitors network use for potential hacking attempts and takes preventative action to block, isolate, or identify attempted infiltration, and raise further alarms to warn security personnel is known as a(n):_________.a. patching systemb. honeypot systemc. firewall systemd. intrusion detection systeme. whitelist
Answer:
d. intrusion detection system
Explanation:
An intrusion detection system is a device or software for the violations of the policy or any malicious activity
Now in the given situation it is mentioned that the system that checks the use of the network for the hacking attempt and takes the prevention steps to block and raise the additional alarm in order to warn the security persons
So this represent the intrusion detection system
Hence, the correct option is d.
In the domestic market, following the imposition of a voluntary quota, imports ________, domestic production ________, and prices ________.
a. increase; decreases; decrease
b. decrease; decreases; increase
c. decrease; increases; increase
d. increase; increases; increase
e. decrease; increases; decrease
Answer:
c. decrease; increases; increase
Explanation:
In the case of the domestic market, the import quota would be considered as an upper limit where the country could import
Now when the import quota would imposed so the import would decreased, the domestic production would increased and the price is also increased
hence, the correct option is c
And, the rest of the options are incorrect
When analyzing the Production Possibility Curve, what is the value of a good given up in order to produce more of another good?
Answer:
reschedule for next week and I will be there in a few minutes to
General Talc Mines has compiled the following data regarding the marker value and cost of the specific sources of capital. Market price per share of common stock-$50. Market value of long-term debt-$980 per bond.
The weighted average cost of capital using market value weights is: ________.
A- 11.7%
B- 13.5%
C- 15.8%
D- 17.5%
E- 14.4%
Answer:
D- 17.5%
Explanation:
Hi your question was incomplete see the attached full question as an image
The Average Cost of Capital is the return that is required by providers of Long term Permanent Sources of Finance
WACC = 8% × 0.05 + 19% × 0.95
= 18 %
According to the liquidity preference model, if the Federal Reserve increases the money supply, the equilibrium interest rate ________, and this leads to _________ in the quantity demanded of nonmonetary interest-bearing financial assets.
a) falls; an increase.b) falls; a decrease.c) rises; an increase.d) rises; a decrease.
Answer:
b) falls; a decrease
Explanation:
According to the liquidity preference model, if the Federal Reserve increases the money supply, the equilibrium interest rate falls and this leads to a decrease in the quantity demanded of non-monetary interest-bearing financial assets.
Liquidity preference model which is also the Keynesian theory of money demand, says that people need money for three major objective transaction motive, precautionary motive, and speculative motive. The increase in money supply decreases interest rate and increases the quantity of money demanded and the decreases the quantity demanded of non-monetary interest-bearing financial assets.
If Smart Touch Learning increases its production of tabletâ computers, what will be the effects on the variable and fixed costs perâ tablet?
Answer:
D. variable costs per tablet is constant, fixed costs per tablet decrease
Explanation:
The variable cost is that cost that changes with the output level but would remains the same at per unit. While on the other hand the fixed cost is the cost that remains fixed whether there is an increase or decrease in the output level
Therefore as per the given situation, the variable cost per tablet would remain constant while the fixed cost per table would reduce
hence, the correct option is d.
Which of the following should not be a major consideration when it comes to selecting your career path?
What your parents think you should do
What you are passionate about
What you are naturally good at
What your interests are
Answer: I believe its : what your interest's are
Explanation:
The aggregate planning approach that lends itself to examining many solutions is:_________
A. the transportation method of linear programming.
B. graphical techniques.
C. the linear decision rule.
D. Bowman's management coefficients model.
Answer:
B. graphical techniques.
Explanation:
The graphical methods would be applied in the case when the facts are assessed in a quantitive way. Also it is a main part for the investigation that contains exploratory information
Therefore in the given situation, for examining many solutions under the aggregate planning approach the graphical techniques would be considered
hence, the correct option is B
Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom. A janitor later discovered the textbook and gave it to the Dean of the Business College. In this situation:___________.a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.b. the college is a bailee by agreement because holding items in a lost and found box is generally part of the college-student agreement when the student enrolls for classes.c. the college is responsible for the discovered textbook because in this situation, the college is subject to implied warranties unless the college has disclaimed such warranties in the student handbook.d. this is a bailment for the sole benefit of the bailee.
Answer:
a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.
Explanation:
When a party comes into possession of a property not by contractual agreement, they are referred to as constructive bailee and are obligated to take care of the property till it is returned to the owner.
The bailee does not willingly take possession of the property, rather unforseen circumstances leads to them possessing it.
This is common when a person forgets his property in a place.
In the given scenario the college (Dean of Business College) became a constructive bailee when they recieved the misplaced textbook. So they are obligated to care for the textbook till it get back to Lacy or be held liable for any harm done
g A Mortgage Backed Bond is: Group of answer choices a. A mortgage-backed security that pass-through promised payments of principal and interest on pools of mortgages b. A mortgage-backed security issued in multiple classes or tranches c. A bond collateralized by a pool of mortgages d. An option to purchase a pool of mortgages e. A loan in which security interest in real estate is granted by a borrower
Answer:
A Mortgage Backed Bond is:
e. A loan in which security interest in real estate is granted by a borrower.
Explanation:
A mortgage backed bond is tied to or secured on a real estate asset. This implies that the bond is not just a promise to pay a debt obligation but the attached promise is secured or backed by some real assets. There is extra security provided for the bond because specific assets are identified as securities for the bond. Since the bonds are associated with some real assets, the assets can be traded in the event that the debt obligations are not met.
________ refers to the demand and availability of an occupation.
i think profession
Explanation:
so it can be right also wrong also
Studies have shown that the single greatest factor preventing travelers from taking a group tour is their aversion to airline travel.
True or False
Answer:
True
Explanation:
im not sure qwq
****ECONOMICS****Which situation is an example of a person making use of credit?
A. A mechanic borrows money from a bank to buy a new set of
expensive tools.
B. A farmer changes the type of crops she grows to make a greater
profit.
C. An architect puts his weekly paychecks into a savings account at
a local bank.
D. A college student saves money in order to buy a cheap used car.
Answer:
A.
Explanation:
Using credit is borrowing.
The situation that represents the example of using credit is borrowing some money for purchasing expensive tools.
The following information does not relate to the usage of credit:
When the types of crops vary for the highest profit. When the architect puts the weekly paychecks at the local bank.And, when the college student saved the money for purchasing the cheap and used car.Based on the above information we can conclude that the situation that represents the example of using credit is borrowing some money for purchasing expensive tools.
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In Maslow's hierarchy, managers must first ensure a person's _______ needs are fulfilled in order to have a motivated workforce.
a. esteemb. belongingnessc. physiologicald. sociale. self-actualization
Answer:
c. Psychological
Explanation:
Maslow's heirachy of needs states that people are driven to find a job or a means of livelihood because of various motivation factors. These needs must be satisfied before a person looks to obtain other less important needs.
The first level of needs are the psychological needs. These have to be satisfied before an employee will look to other needs.
They include man's basic needs to live like food, shelter, and clothing.
After these are satisfied one can now focused on security needs, social needs, esteem needs, and self actualization.
If Congress votes to increase spending and taxes by the same amount, what is the effect on employment and interest rates
Answer:
a. Increase / Increase
Explanation:
Since in the question it is mentioned that there is an increase in taxes and government spending so it represents the positive stimuls as it occurs because the government incurrent all the revenue for the public welfare due to which there is a rise in the government expenditure that boost the aggregate demand also the GDP value would be rise because of the multiplier effect
Therefore the employment level and the rate of interest would also increased
Answer:
The correct answer was increase / no change
Explanation:
Just took the test
Use the following selected date and additional information from the records of Hitchcock Corporation to answer the question that follows. Balance Sheet Data 2004 2003 Accounts Receivable $50,000 $40,000 Inventories 22,000 25,000 Prepaid Rent 13,000 5,000 Accounts payable 13,000 20,000 Salaries payable 9,000 15,000 Taxes payable 18,000 11,000 Income Statement Data 2004 Depreciation Expense 6,000 Net Income 50,000
Answer:
$35,000
Explanation:
Requirement: Prepare the Operating Activities section of the Statement of Cash Flows for the year ended 2004. Use the INDIRECT Method
Cash from Operating Activities
Particulars Amount$
Net income 6000
Add: Depreciation expense 50000
Operating Cash Flow before 56000
Change in Working Capital
Add:
Decrease in inventory 3000
Increase in incomes taxes payable 7000 10000
Less:
Increase in accounts receivable 10000
Increase in prepaid Rent 8000
Decrease in accounts payable 7000
Decrease in salaries payable 6000 -31000
Cash from Operating Activities $35000
A large food chain of health foods stores, sells its common stock at a par value of $20, and the offering price is $10. This means that the capital in excess of a par is
A form of corporate equity ownership and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used. In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares. Hence Capital in Excess pf a par is $ 10. ($20-$10)
What is common Stock ?This kind of share entitles the bearer to a portion of the company's income as well as voting rights regarding corporate policy and the make-up of the board of directors.
Any specific corporate assets do not belong to common stockholders; instead, they are owned equally by all shareholders. In the event that a corporation issues both ordinary and preference shares, the preference owners will be paid dividends first.
In the any monies remaining after bondholders, creditors (including employees), and preference shareholders have been paid are distributed to regular shareholders. The typical outcome of a bankruptcy-based liquidation is that the ordinary shareholders receive nothing.
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The money demand function for an economy is given by (M/P)d = (0.6Y)/(i1/2). If output is 1,000 units, the nominal interest rate is 9%, and the money supply is $1,200, the price level is _____.
Answer:
$0.6
Explanation:
Nominal interest rate (i) = 9% = 0.09
Output (Y) = 1,000
Money supply(M) = 1,200
==> (M/P)^d = (0.6Y) / i^(1/2)
==> 1200/P = 0.6*1000 / 0.09^(1/2)
==> 1200/P = 600 / 0.3
==> 1200/P = 2000
==> 1200 = 2000 * P
==> P = 1200/2000
==> P = $0.6
Therefore, the price level is $0.6
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $67,800. The band estimates it will use this equipment for five years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method.
Answer:
Annual depreciation= $13,160
Explanation:
Giving the following information:
Purchase price= $67,800.
Useful life in years= 5 years
Salvage value= $2,000.
To calculate the annual depreciation under the straight line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (67,800 - 2,000) / 5
Annual depreciation= $13,160
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows: Direct materials $92 Direct manufacturing labor 32 Variable manufacturing overhead 12 Fixed manufacturing overhead 32 Sales commissions (2% of sales) 26 Administrative salaries 6 Total $200 What is the percentage of the total variable costs per unit associated with Product ORD105 with respect to total cost
Answer:
81%
Explanation:
Variable cost per unit = Direct material + Direct manufacturing labor + Variable manufacturing overhead + Sales commission
Variable cost per unit = $92 + $32 + $12 + $26
Variable cost per unit = $162
Total cost per unit = $200
Percentage of variable cost per unit to Total cost per unit = Variable cost per unit/Total cost per unit = 162/200 = 0.81 = 81%
