Answer:
$77,000
Explanation:
Calculation to determine How much did the cash realizable value change during the current year
First step
Ending accounts receivables = Beginning accounts receivables + Sales on account - collections on account - Write offs
Ending accounts receivables = $700,000 + $195,000 - $95,000 - $11,000
Ending accounts receivables= $789,000
Second step
Ending cash realizable value = Ending accounts receivables - Ending allowance for doubtful accounts
Ending cash realizable value = $789,000 - $72,000
Ending cash realizable value= $717,000
Now let determine the Change in cash realizable value
Change in cash realizable value = Ending cash realizable value - Beginning cash realizable value
Change in cash realizable value= $717,000 - 640,000
Change in cash realizable value= $77,000
Therefore How much did the cash realizable value change during the current year will be $77,000
During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:
6 Purchased goods for $1,200 from Green with terms 2/10, n/30.
6 Purchased goods from Munoz for $900 with terms 2/10, n/30.
14 Paid Green in full.
Feb. 2 Paid Munoz in full.
28 Purchased goods for $350 from Reynolds with terms n/45.
Required:
Prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system.
Answer:
Axe Corporation
Journal Entries:
Feb. 6 Debit Inventory $1,200
Credit Accounts payable (Green) $1,200
To record the purchase of goods with terms 2/10, n/30.
Feb. 6 Debit Inventory $900
Credit Accounts payable (Munoz) $900
To record the purchase of goods with terms 2/10, n/30.
Feb. 14 Debit Accounts payable (Green) $1,200
Credit Cash $1,176
Credit Cash Discounts $24
To record the payment on account with discounts.
Feb. 20 Debit Accounts payable (Munoz) $900
Credit Cash $900
To record full settlement on account.
Feb. 28 Debit Inventory $350
Credit Accounts payable (Reynolds) $350
To record the purchase of goods with terms n/45.
Explanation:
a) Data and Analysis:
Feb. 6 Inventory $1,200 Accounts payable (Green) $1,200
with terms 2/10, n/30.
Feb. 6 Inventory $900 Accounts payable (Munoz) $900
with terms 2/10, n/30.
Feb. 14 Accounts payable (Green) $1,200 Cash $1,176 Cash Discounts $24
Feb. 20 Accounts payable (Munoz) $900 Cash $900
Feb. 28 Inventory $350 Accounts payable (Reynolds) $350
with terms n/45.
Karen usually does not spend much time selecting gifts. However, when choosing a fountain pen for her husband's birthday this year, she visited several stores and spent a lot of time asking the sales staff about different features of the pen before making her purchase. This scenario illustrates _______. a. shopping involvement.b. enduring involvement.c. product involvement.d. situational involvement.
Answer:
Option d: situational involvement
Explanation:
Types of Involvement
Product Involvement; message involvement, situational involvement
Product involvement
In this stage of involvement, consumer's level of interest in product is largely based on perceived risk and application to daily life. This is simply known as a product category that is of high personal relevance.
Message involvement
This is simply the effects the media has on consumers such as high involvement is equal to high cognitive effort required (newspaper) while low-involvement equal to low cognitive.
Situational Involvement
This is simply defined as the circumstances surrounding the purchase area that may temporarily change a low-involvement decision into a high-involvement one. High-involvement is therefore when the consumer perceives risk in a specific situation. This usually takes place at location where purchasing.
ngân hàng tiến hành xóa nợ như thế nào
Answer:
How does the bank write off the debt?
For each of the following, compute the future value:
Present Value Years Interest Rate Future Value $2,450 10 14 % $9,152 8 8 80,355 15 13 187,796 6 5
Answer:
938 4828 4838385848382 4>3>42[29495 56 6
On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000 per share. Write down the necessary journal entry.
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
Answer:
Explanation:
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
Warehouse Sports, a large box store retailer of athletic shoes, orders 200,000 shoes per year from its manufacturer. If w-
and spends $10,000 in total annual ordering costs, what is the cost of ordering and delivery per order?
O $2,000
$50
W
O $500
O There is not enough information to answer this question.
Recurring upswings and downswings in an economy's real GDP over time are called Group of answer choices recessions. total product oscillations. business cycles. output yo-yos.
Answer:
Business cycles
Explanation:
Business cycle is the correct answer because when the economy grows then the GDP of the country also grows. While the decrease in economic activities leads to slow down the economy and then GDP of the country falls. Therefore, the complete circle of GDP boost and then contract is called the business cycle.
By appropriately preparing a forecast budget, a company can avoid __________. a net loss inventory shortages insolvency regulation
Answer:
insolvency
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 periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
A specialized budget can be defined as a financial plan that is typically focused on specific assets or activity of a master (comprehensive) budget.
In conclusion, by appropriately preparing a forecast budget, a company can avoid insolvency.
Strait Co. manufactures office furniture. During the most productive month of the year, 3,200 desks were manufactured at a total cost of $82,800. In the month of lowest production, the company made 1,290 desks at a cost of $64,900. Using the high-low method of cost estimation, total fixed costs are a.$52,816 b.$82,800 c.$64,900 d.$17,900
Answer:
a.$52,816
Explanation:
Calculation to determine total fixed costs
First step
Variable cost per unit = (Highest activity cost - Lowest activity cost)/(Highest activity - Lowest activity)
Variable cost per unit= ( 82,800-64,900)/(3,200-1,290)
Variable cost per unit= 17,900/1910
Variable cost per unit= $9.37 per unit
Now let determine the Fixed cost
Fixed cost = Highest activity cost - Highest activity x Variable cost per hour
Fixed cost= $82,800 - 3,200 x 9.37
Fixed cost= $82,800-$29,984
Fixed cost= $52,816
Therefore Using the high-low method of cost estimation, total fixed costs are $52,816
The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $91,050. The conversion cost for the period in the Filling Department is $497,860. The total equivalent units for direct materials and conversion are 60,700 ounces and 68,200 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: $fill in the blank 1 per ounce Conversion costs per equivalent unit: $fill in the blank 2 per ounce
Answer:
Cost of Direct material per unit = $1.50 per unitCost of Conversion = $7.30 per unitExplanation:
Cost of Direct material per unit is:
= Total cost of direct material / Total equivalent units for direct materials
= 91,050 / 60,700
= $1.50 per unit
Cost of conversion
= Total cost of Conversion / Total equivalent units for Conversion
= 497,860 / 68,200
= $7.30 per unit
The actual cash received from cash sales was $83,452, and the amount indicated by the cash register total was $83,480. Journalize the entry to record the cash receipts and cash sales.
Answer:
Dr Cash $83,452
Dr Cash short or Over $28
($83,480-$83,452)
Cr Sales $83,480
Explanation:
Based on the information given the appropriate journal the entry to record the cash receipts and cash sales is:
Dr Cash $83,452
Dr Cash short or Over $28
($83,480-$83,452)
Cr Sales $83,480
(To record the cash receipts and cash sales)
Emma noticed that she was almost out of gas, so she pulled into the nearest gas station and filled up her tank. Emma's decision on which gas to purchase is characterized by
Answer: a low level of purchase involvement
Explanation:
A low-involvement purchase simply means a decision making process that's abridged. In such situations, the buyer hardly does any information gathering, and he or she makes a simple and straightforward decision.
Since when Emma noticed that she was almost out of gas, she pulled into the nearest gas station and filled up her tank. Emma's decision here is straightforward as she doesn't analyse other alternatives. Therefore, it's a low level of purchase involvement.
The Accounts Receivable account of Brownstone Company has the following postings: Accounts Receivable Calculate the ending balance of the account. A. debit B. credit C. debit D. debit
Answer:
D. $16,000 debit
Explanation:
As we know Account receivable is a current asset account that has a normal debit balance. A debit entry in this account would increase the balance of the account and a credit entry in this account would decrease the account balance.
In the given question, There are two entries in the debit side.
Hence, The debit balance should be
Debit side total = 20,000 + 2,000 = 22,000
There is a credit entry in the account that will decrease the account balance
Account ending balance = 22,000 - 6,000
Account ending balance = 16,000
As the balance of the debit side is greater than the credit side. The answer will be debit 16,000
The question is incomplete
The complete question is provided in the attachement and the answer is made accordingly.
Portal Manufacturing has total fixed costs of $520,000. A unit of product sells for $15 and variable costs per unit are $11. a) At a minimum, how many units must Portal sell in order not to incur a loss?b) Prepare a contribution margin income statement showing predicted net income (loss) if Portal sells 100,000 units for the year ended December 31.
At a bare minimum, the units must portal sold in order not to incur a loss of 130,000 units.
Contribution margin per unit = Selling price per unit - Variable costs per unit
= $15 - $11
= $4
Break-even sales = Fixed costs / Contribution margin per unit
= $520,000 / $4
= $130,000
Sales (130,000 units * $15) $1,950,000
Variable costs (130,000 units * $11) ($1,430,000)
Contribution margin $520,000
Fixed costs ($520,000)
Net income $0
What is the Contribution margin per unit?The asking price of 1 unit of the product less the variable producing expenses is that the contribution margin per unit. the quantity that every sale contributes toward covering mounted prices is understood because of the unit contribution margin. it'll show the profit per unit oversubscribed when the mounted prices are paid.
Revenue less variable prices equal contribution margin. The formula for conniving the contribution margin magnitude relation is revenue - variable prices / by revenue.
The nearer the contribution margin is to 100 percent, the better; 100 percent is that the ideal contribution margin. The larger the quantity, the lot effectively a business pays its operational expenses out of money existing.
Selling price per unit less variable price per unit equals contribution margin, usually called dollar contribution per unit. the quantity of sales revenue stated as "Contribution" is the fraction that's not accustomed pay variable prices and thus helps to hide mounted prices.
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Entrepreneurs who start businesses because they cannot find work any other way are______.?
1. Necessity entrepreneurs
2.Serial entrepreneurs
3.Opportunity entrepreneurs
4. Corporate cast-off
Answer:
Entrepreneurs who start businesses because they cannot find work any other way are______.
4. Corporate cast-off
Explanation:
Corporate cast-off includes former corporate executives who were laid off from their corporate positions as a result of corporate downsizing. Not finding any other corporate employment, they decide to establish their own businesses, using their saved resources and borrowings. They now constitute a sizeable number of small businesses, which eventually grow to medium-sized corporations. Some of them engage in consultancy services depending on their areas of specialty.
a. A consulting firm that is for sale has an annual operating cash flow of $2,000,000 assuming no future growth in cash flow, what is the value of this business at a 50% cost of capital.
Answer: $4,000,000
Explanation:
Based on the information given in the question, the value of this business at a 50% cost of capital will be calculated thus:
= Annual cash flow / Cost of capital
= $2,000,000 / 50%
= $2,000,000 / 0.5
= $4,000,000
Therefore, the value of the business is $4,000,000.
A Real estate broker has a fiduciary responsibility to her client and her responsibilities include financial references, orders and examine reports, and must follow ADA title lll. This broker is most likely working for the client as:
Answer:owowo
Explanation:
Isidore
Analysis of a foreign subsidiary's financial statements denominated in Euro, its local currency, shows a growth rate in revenue of 16%. Suppose that during the year, the value of the Euro increased in terms U.S. dollars. The subsidiary's revenue growth rate expressed in U.S. dollars will be:
Answer:
The appropriate answer is "Greater than 16%".
Explanation:
Throughout this situation, the country's currency of companies has shown a 16 percent raise, which means that the sales of the subsidiaries would increase more than 16 percent whenever represented among Us dollars.As several currencies are increasing inside this valuation of the national currency, the transformation rate is greater than 16% as that the incidence increases.Kohl Co. provides warranties for many of its products. The January 1, 2013, balance of the Estimated Warranty Liability account was $54,088. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 0.60% of sales. During 2013, the actual cost of servicing products under warranty was $39,922, and sales were $2,149,100. Required: a. What amount of Warranty Expense will appear on Kohl Co.'s income statement for the year ended December 31, 2013
Answer: $12,894.60
Explanation:
Warranty expense for 2013 will be calculated as:
= Actual warranty expense * Estimated warranty expense %
Actual warranty expense = Sales because these are the products under warranty.
Warranty expense is therefore:
= 2,149,100 * 0.60%
= $12,894.60
The February contribution format income statement of XYZ Corporation appears below: Sales $ 169,500 Variable expenses 96,000 Contribution margin 73,500 Fixed expenses 58,000 Net operating income $ 15,500 The degree of operating leverage is closest to:
Answer:
degree of operating leverage= 4.742
Explanation:
Giving the following information:
Contribution margin 73,500
Net operating income $ 15,500
To calculate the degree of operational leverage, we need to use the following formula:
degree of operating leverage= Total contribution margin / operating income
degree of operating leverage= 73,500 / 15,500
degree of operating leverage= 4.742
Swift Motor Lines has a delivery truck that cost $11,000, and has $1,000 of accumulated depreciation. What is the fair market value of the truck
Answer: Information is not sufficient to answer.
Explanation:
The fair market value of a fixed asset is the current value in the market of the fixed asset. Given that we do not know the current market value as it is not given in the question, we are unable to answer this question.
If the question had asked to calculate the net book value then we would have simply subtracted the accumulated depreciation from the cost price but this is a fair market value question so its different.
The Milken Company is offering you an investment that promises you $10,000 at the end of 7 years if you invest $ 6,330 today. What is the annual return on this investment?
Answer:
The Milken Company
The annual return on this investment is:
= 8.3%
Explanation:
a) Data and Calculations:
Total returns at the end of 7 years = $10,000
Total investment today = 6,330
Total returns from the investment = $3,670
Annual return = $524 ($3,670/7)
= 8.3% ($524/$6,330 * 100)
b) The annual return on this investment is the total returns of $3,670 annualized to 7 years. This gives an average annual return of $524, which is then used to calculate the percentage return, weighing it against the investment cost of $6,330.
A company that wanted to provide a single, unified entry point to its network that would allow different types of users access to different types of resources could do so by establishing a(n):____________.
A. enterprise portal.
B. broadband interface.
C. intranet.
D. mainframe network.
Answer: A. Enterprise portal
Explanation:
Enterprise portals is a relatively new type of information portal that works to integrate information and other processes in the company and allow different users in a company access to this information through different types of resources.
This ensures that the employees in the company can get information that they need in a timely and efficient manner and is the reason why enterprise portals are becoming increasingly popular.
The enterprise portal are used by company's that wanted to provide a single or unified entry point to its network to allow users access to different resources.
The Enterprise portals is an information portal that integrate information and processes in the company and allow users have access to this information..
The enterprise portals ensures that the employees in the company can get information that they need in a timely and efficient manner.
So, the enterprise portal are used by company's that wanted to provide a single or unified entry point to its network to allow users access to different resources.
Therefore, the Option A is correct.
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Why was Circuit City so successful as to be fea- tured in Good to Great? What was its strategic position during its successful period? How did it contribute to competitive advantage?
Answer:
Circuit city was the second largest multinational U.S elctronic retailer. Founded in 1949 and it has 567 circuit superstores around the world. McCollough was the CEO who has an experience of 13 years. Because of his experienece in marketing and store management, he could serve the company as a genral manager.
McCollough implimented several strategies in order to gain the brand image for the company.
They have used five S's stratergies which includes selection, saving, service, satisfaction and speed
Explanation:
Several other reasons for calling circuit city successful as Good to Great are as follows,
The company has a point-of-point scale and also inventory-tracking technology to have control on secured cash transactions and consistent systems
The company is able to provide a quit response for timely chnaging trends and adapt to the dynamic environment in the market
They have avoided unneccessary business practices and neglected several unnessary competencies in the market
The market will overproduce goods that have external costs because Group of answer choices Producers experience higher costs than society Producers experience lower costs than society Producers cannot keep these goods from consumers who do not pay, so they have to produce greater amounts The government is not able to produce these goods
Answer:
Producers experience lower costs than society
Explanation:
In the case when the market excess produce the goods that contains the external cost so it should be because of producers would have less cost as compared to the society that means the private equilibrium cost should be less than the social equilibrium cost
So as per the given situation, the above statement should be true
At the beginning of the recent period, there were 960 units of product in a department, 35% completed. These units were finished and an additional 5,200 units were started and completed during the period. 880 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 5,500 units.
Explanation:
a) Data and Calculations:
Units Conversion
Beginning inventory 960 35%
Additional units started 5,200
Units available 6,160
Ending inventory 880
Units completed 5,280
Equivalent units of production:
Units completed 5,280 5,280 (100%)
Ending inventory 880 220 (25%)
Equivalent units of production 5,500
Malik is a recent college graduate. He just started his first job as an investment
representative for Edward Jones. He has carefully budgeted his finances, and plans to
set aside $500/month for his retirement,
How would you recommend Malik invest his money?
Answer:
The answer is below
Explanation:
Given that Malik wants to invest his money for retirement purposes, here are some of the income-producing retirement investments he can invest his money:
1. Immediate Annuities
2. Bonds
3. Retirement Income Funds
4. Rental Real Estate
5. Real Estate Investment Trusts (REITs)
6. Variable Annuity With a Lifetime Income Rider
7. Closed-End Funds
8. Dividend Income Fund
9. Total Return Portfolio
A change in an accounting estimate is:__________
a) Reflected in past financial statements.
b) Reflected in future financial statements and also requires modification of past statements.
c) Reflected in current and future years' financial statements, not in prior statements.
d) Not allowed under current accounting rules.
e) Considered an error in the financial statements.
Sheridan Company can produce 100 units of a component part with the following costs: Direct Materials $22000 Direct Labor 6500 Variable Overhead 20000 Fixed Overhead 11000 If Sheridan Company can purchase the component part externally for $55000 and only $4000 of the fixed costs can be avoided, what is the correct make-or-buy decision
Answer:
If the company makes the component, it will save $2,500.
Explanation:
To determine which option is better, we need to calculate the total cost of each option and choose the cheapest one. We will take into account the avoidable fixed overhead cost, thus the rest is inconsequential to the decision-making process.
Make in-house:
Direct material= $22,000
Direct labor= $6,500
Variable overhead= $20,000
Avoidable fixed overhead= $4,000
Total cost= $52,500
Buy:
Total cost= $55,000
If the company makes the component, it will save $2,500.
Which one of the following will not cause a change in the demand for labour, illustrated by a shift of the demand curve?
A. An increase in the number of employers
B. Anncrease in the wage rate
C. A decrease in the price of the product
D. An increase in the productivity of labour
Answer:
B. Anncrease in the wage rate
One thing that will not lead to a change in the demand for labor is B. Annual increase in the wage rate.
What affects the demand for labor?When there are more employers, more labor will be demanded as when there is an increase in labor productivity.
When there is a decrease in the price of a product however, the demand for labor drops. Annual increases in the wage rate are already accounted for and so do not affect labor demand.
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