Answer:
$183,300
Explanation:
The computation is shown below:
Value of common stock value on the balance sheet prior to the stock dividend is
= No of stock outstanding × Face value per share
= 78,000 × $2
= $156,000
Now
New shares to be issued is
= 78,000 × 0.175
= 13,650 shares
So,
Total shares outstanding after stock issue is
= 78,000 + 13,650
= 91,650 shares
Now the value of common stock after stock dividend is
= 91,650 × $2
= $183,300
acc 430 Firm B, a calendar year, cash basis taxpayer, leases lawn and garden equipment. During December, it received the following cash payments. To what extent does each payment represent current taxable income to Firm B
Answer: See explanation
Explanation:
a. Even though firm B received a cash of $522, only $22 which is the interest will be taxable as the $500 which is the principal isn't taxable.
b. Even though Firm B got $600 cash, there'll be no taxable income as the receipt brought about a liability. Hence, taxable income is 0.
c. Even though Firm B got $10000 cash, there'll be no taxable income as the receipt brought about a liability and the net worth wasn't increased. Hence, taxable income is 0.
d. The taxable income here will be $888.
which of the following attributes is not necessary for the information to qualify as a trade secret?
Answer:
short and long to type
Explanation:
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In addition to the date of recordation, what other factor is used to determine lien priority?
Answer:
Two factors primarily determine lien priority. Firstly the lien's categorization as superior or junior, and secondly the date the lien was recorded.
Explanation:
An encumbrance is most broadly defined as
another's right to use a property without the permission of the property owner.
another's right to claim the sale proceeds of a property that has been used as collateral for a loan.
another's interest in a real property that limits the interests of the freehold property owner.
another's right to control how the freehold owner of a real property uses the property.
In addition to the date of recordation, lien's categorization is other factor used to determine lien priority.
What is lien priority?Lien priority helps to know the order in which creditors get paid following a foreclosure.
Date of recordation is one of the factor yo consider because those on the earlier dates are attended to first.
Therefore, lien priority is so base on categorization because Superiors are been attended to first.
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Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2019, at a cost of $148,000. Over its 4-year useful life, the bus is expected to be driven 100,000 miles. Salvage value is expected to be $8,000.
Required:
a. Compute the depreciable cost per unit.
b. Prepare a depreciation schedule.
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $80,000; 20Y2, $90,000; 20Y3, $150,000; 20Y4, $150,000; 20Y5, $160,000; and 20Y6, $180,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 250,000 shares of cumulative, preferred 2% stock, $20 par, and 500,000 shares of common stock, $15 par. Assuming a market price per share of $25.00 for the preferred stock and $17.50 for the common stock, determine the average annual percentage return on initial shareholders' investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock.
Answer:
Pecan Theatre Inc.
Average annual percentage return
Cost Market 20Y1 20Y2 20Y3 20Y4 20Y5 20Y6
per share
Preferred stock $20.00 $25.00 2% 2% 2% 2% 2% 2%
Common stock $15.00 $17.50 0% 0% 0% 0.7% 0.8% 0.11%
Explanation:
a) Data and Calculations:
Dividends: Cumulative Common Stock
Preferred Stock Dividends
Dividends Per share Per share
20Y1, $80,000 $80,000 $0.40 $0 $0
20Y2, $90,000 90,000 $0.40 0 $0
20Y3, $150,000 150,000 $0.40 0 $0
20Y4, $150,000 100,000 $0.40 50,000 $0.10
20Y5, $160,000 100,000 $0.40 60,000 $0.12
20Y6, $180,000 100,000 $0.40 80,000 $0.16
Average annual percentage return
Cost Market 20Y1 20Y2 20Y3 20Y4 20Y5 20Y6
per share
Preferred stock $20.00 $25.00 2% 2% 2% 2% 2% 2%
Common stock $15.00 $17.50 0% 0% 0% 0.7% 0.8% 0.11%
Average annual percentage return = Dividend per share/Initial Cost per share
A farmer purchased a module builder for $50,000. The bank is willing to loan him $37,000. The terminal value of this investment is $15,000. There is a marginal tax rate of 25%, a growth rate of 2%, and a discount rate of 10%. What is the after tax terminal value of this investment
Answer:
the after tax terminal value would be $14,500
Explanation:
Blazing Woman, a large music festival wants to secure a venue for its show coming up in two years. 19 months before the festival it enters into an agreement with Stonestock Farms. They shake hands on it, but do not write or sign any type of formal agreement. Eight months later Stonestock notified Blazing Woman that they decided against allowing their farm to be used. Can Blazing Woman enforce the agreement with the Stonestock even though it was not in writing
Answer:
No. Because the contract cannot be fully performed within a year of its creation, R is within the statute of frauds.
Explanation:
Since in the question it is mentioned that there is no written agreement so the agreement should not be enforceable as as per the law if the contract is to be treated as completed for a period of time so it should be in the written form
Here woman could not able to sue the stonstock farms
Therefore the above statement represent an answer
Both the demand curve and the supply curve are straight lines. If the price is $4 but only 6 units are bought and sold, producer surplus will be
Answer:
$12
Explanation:
Producer's surplus=1/2*Q*P( Just like the formula for the area of a triangle which is 1/2*base*height)
P is the price of the item which is $4
Q is the quantity bought and sold, which is 6 units in this case, hence, the producer surplus is shown thus
producer's surplus=1/2*$4*6
producer's surplus=$12
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $330,000 for the machine and is leasing it to Zone for $40,000 per year, an amount that will return 10% to Calloway. The present value of the lease payments is $330,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021
Answer:
Dr Interest receivable $29,000
Cr Interest revenue $29,000
Explanation:
Preparation of the appropriate interest entry on December 31, 2021
December 31, 2021
Dr Interest receivable $29,000
Cr Interest revenue $29,000
[($330,000-$40,000)*10%]
($290,000*10%)
(To record Interest)
Read the argument below and determine the underlying principle that was used to come to the conclusion presented: A free college education for every citizen is important because it helps the United States create the best-educated workforce in the world. European countries like Germany are able to provide a free college education to their citizens, and the United States should as well. Which other argument uses the same underlying principle as the argument above?
a. Children should get free dental care, even if they drink a lot of soda which causes cavities.
b. Children should get free dental care because it will help prevent more serious issues later on and reduces future healthcare costs.
c. Every child should get free dental care, even if they can afford to pay for it.
Answer:
1. The underlying principle is
to create the best-educated workforce in the world.
2. The argument that uses the same underlying principle as the argument 1 above is:
b. Children should get free dental care because it will help prevent more serious issues later on and reduces future healthcare costs.
Explanation:
The underlying principle is a general rule which can be applied to different situations. It shows the reason for doing something or embarking on a program. For example, to offer free college education for every U.S. citizen, the underlying principle is to "create the best-educated workforce in the world."
Cara has just come in for her morning shift , but the sales floor is a mess . Looks like the night crew didn't clean up . She groans , but then gets to work cleaning the displays before customers come . If she doesn't , who else will ? What good problem - solving skills is she exhibiting? a ) Seeking advice when necessary Ob ) Open to seeing new perspectives c ) Having a solutions - oriented attitude
Answer:
having a solutions-oriented attitude
Explanation:
she seen things wasn't done so she starts cleaning because she takes pride in her job
Steve King and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to King of $128,250. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to King and Stevens, 1:2. King and Stevens had $75,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $225,000. How much is distributed to King and Stevens
Answer:
King and Stevens Partnership
King Stevens Total
Distributions $162,110 $62,890 $225,000
Explanation:
a) Data and Calculations:
Annual salary allowance to King = $128,250
Interest rate on capital = 7%
Income sharing ratio = 1:2 King and Stevens
Net income for the year = $225,000
Capital balances = $75,000 King and $81,000 Stevens
King Stevens Total
Capital $75,000 $81,000 $156,000
Net income $225,000
Annual salary 128,250 0 (128,250)
Interest on capital 5,250 5,670 (10,920)
Share of profits 28,610 57,220 (85,830)
Capital, ending $237,110 $143,890 $381,000
Distributions $162,110 $62,890 $225,000
How are investors taxed on stocks and mutual fund investments? Check all that apply.
Answer:
yes
Explanation:
Generally, yes, taxes must be paid on mutual fund earnings, also referred to as gains. Whenever you profit from the sale or exchange of mutual fund shares in a taxable investment account, you may be subject to capital gains tax on the transaction. You also may owe taxes if your mutual fund pays dividends. The amount of tax owed ultimately depends on the combined total of your gains and losses.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
"Realizing a capital gain from one mutual fund doesn't guarantee that you'll owe taxes on that gain. Each dollar of capital loss potentially can offset a dollar of capital gain."
— Mitchell Drossman, head of National Wealth Strategies in the Chief Investment Office (CIO) for Merrill and Bank of America Private Bank
A closer look at the capital gains tax
Short-term capital gains are gains from the sale of capital assets held for 12 months or less and are taxed at ordinary income tax rates. Long-term capital gains are gains from the sale of capital assets held for more than 12 months and are currently subject to a federal long-term capital gains tax rate of up to 20%.
2021 Capital Gains Tax RatesFootnote 1
Short-term
Held for 12 months or less
Ordinary income tax rate
Long-term
Held for more than 12 months
0%, 15% or 20% depending on your taxable income
But a capital gain in one mutual fund doesn't guarantee that you'll owe taxes on that gain. Each dollar of capital loss potentially can offset a dollar of capital gain.
For example if, in the same tax year, you have $1,000 in long-term capital gains and $600 in long-term capital losses, you'll pay tax only on the net long-term capital gain of $400. If your capital losses exceed your capital gains for the tax year, you can use up to $3,000 of these excess capital losses to offset ordinary income in such tax year. You can carry over capital losses in excess of $3,000 to offset capital gains in future tax years (and, potentially, ordinary income of up to $3,000 per year).
4. The relationship of a principal broker and affiliated broker is one of
O agency.
O principality.
O subagency.
O commingling
5. The relationship of a principal broker and brokor is formally
It would be acceptable to have the selling price of a product just above the variable costs and expenses of making and selling it in:_________
A) monopoly situations
B) both the short run and long run
C) the long run
D) the short run
Answer:
B.both the short run and long run.
On October 1, 2020 Sheffield Corp. issued 5%, 10-year bonds with a face value of $6140000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Bond interest expense reported on the December 31, 2020 income statement of Sheffield Corp. would be:_________
Answer: $70610
Explanation:
Following the information given, the issue price of the bond will be:
= $6,140,000 × 1.04
= $6,385,600
The premium on bonds payables will be:
= $6,385,600 - $6,140,000
= $245,600
Cash interest Payables will be:
= 6,140,000 × 5% × 3/12
= $76,750
Bond Premium amortization for Each Year will be:
= 245,600 / 10
= $24,560
Then, the premium amortized will be:
= $24,560 × 3/12
= $6,140
Therefore, the interest expenses on Dec 31 will be:
= Cash interset Payables - Premium amortized
= $76,750 - $6,140
= $70,610
In the current year, Marnie rented her vacation home for 75 days, used it for personal reasons for 22 days, and left it vacant for the remainder of the year. Her income and expenses are as follows: Rental income $ 18,000 Property taxes 2,500 Mortgage interest 3,500 Utilities 1,100 Repairs and maintenance 1,000 Depreciation 5,200 What is Marnie's net income or loss from the activity
Answer: $11123
Explanation:
Based on the information given, Marnie's net income or loss from the activity will be calculated thus:
Rental income = $18000
Less: Property tax = $2500 × 75/365 = $514
Less: Mortgage interest = $3500 × 75/365 = $719
Less: Utilities = $1100 × 75/97 = $851
Less: Repairs and Maintenance = $1000 × 75/97 = $773
Less: Depreciation = $5200 × 75/97 = $4021
Net income = $11,123
Who sets the amount or rate of real estate commissions?
Answer:
q
Explanation:
why multinational company are developed
Answer:
Multinationals provide an inflow of capital into the developing country.
Explanation:
This capital investment helps the economy develop and increase its productive capacity.
what are the purpose of the information in Management?
Answer:
The purpose of information management is to: design, develop, manage, and use information with insight and innovation. support decision making and create value for individuals, organizations, communities, and societies.
Answer:
It helps dictate how businesses form strategies, and implement processes based on them.
A company has two segments with total sales of $500,000 and total variable costs of $343,750. Traceable fixed expenses are $50,000 and common fixed expenses are $80,000. The break even in dollars for the company as a whole equals $ _______. (Enter your answer as a whole number.)
Answer:
$416,000
Explanation:
The computation of the break even in dollars for the company is given below:
Total fixed expenses = Traceable fixed expenses + Common fixed expenses
= $50,000 + $80,000
= $130,000
Now
Contribution margin ratio = (Sales - Variable costs) ÷Sales × 100
= ($500,000 - $343,750) ÷ $500,000 × 100
= 31.25%
Now
Break-eve dollars = Fixed expenses ÷ Contribution margin ratio
= $130,000 ÷ 31.25%
= $416,000
Stephen is a graduate student at West University. He works part-time at the campus coffee shop earning $5,000 this year. Stephen also receives a $25,000 scholarship that pays for his tuition, fees, and books. What amount does Stephen include in his gross income
Answer:
5,000
Explanation:
Stephen is a graduate student at a university
He works part time at a shop where he earns 5,000 this is als like compensation
He receives $25,000 for scholarships
The amount Stephen includes in id groas income is 5,000
At the beginning of the year, Shinedown, Corp., had a long-term debt balance of $46,880. During the year, the company repaid a long-term loan in the amount of $12,805. The company paid $4,890 in interest during the year, and opened a new long-term loan for $11,290. How much is the ending long-term debt account on the company's balance sheet
Answer:
Shinedown, Corp.
The ending long-term debt account on the company's balance sheet is:
= $45,365.
Explanation:
a) Data and Calculations:
Beginning long-term debt balance = $46,880
Repayment of a long-term loan = (12,805)
New long-term loan opened = 11,290
Ending balance of long-term debt = $45,365
Interest payment during the year = $4,890
b) The long-term debt account does not include the interest payment during the year. If any interest is not paid, the amount will be taken as a current liability and not a long-term debt.
Standish Company manufactures consumer products and provided the following information for the month of February:
Units produced 131,000
Standard direct labor hours per unit 0.20
Standard fixed overhead rate (per direct labor hour) $2.50
Budgeted fixed overhead $65,000
Actual fixed overhead costs $68,300
Actual hours worked 26,350
Required:
a. Calculate the fixed overhead spending variance using the formula approach.
b. Calculate the volume variance using the formula approach.
Answer and Explanation:
The computation is shown below:
a. Fixed overhead Spending Variance is
= Budgeted Fixed Overhead - Actual Fixed overhead
= $65000 - $68300
= - $3300 (unfavorable)
b.
Fixed Overhead Volume Variance is
= (131000 × 0.20 × $2.50) - $65000
=$65500 - $65000
= $500 Favorable
In this way these can be determined
1. Costs that do not change with the change in the level of production for some time is classified as ________.
a. variable costs.
b. fixed costs.
c. mixed costs.
d. none of these choices are correct.
2. Under variable costing, the cost of goods manufactured consists of all except:_____.
a. direct materials.
b. direct labor.
c. variable factory overhead.
d. fixed factory overhead.
3. Costs that have characteristics of both a variable cost and a fixed cost are classified as ________.
a. variable costs.
b. fixed costs.
c. mixed costs.
d. none of these choices are correct.
Answer:
1. b. fixed costs.
2. d. fixed factory overhead.
3. c. mixed costs.
Explanation:
Costs are usually classified as fixed and variable cost. Fixed cost are cost that don not vary with the level of activities (usually expressed as units of production or sales) of an organization.
Variable cost on the other hand are cost that varies with the level of activity. A combination of these cost is called mixed cost.
Under variable costing, all cost are dependent on activity level hence are not fixed.
Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 46,000 units per month is as follows:
Per Unit Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Fixed manufacturing overhead $18.50
Variable selling & administrative expense $3.00
Fixed selling & administrative expense $14.00
The normal selling price of the product is $98.10 per unit.
An order has been received from an overseas customer for 2,600 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $1.80 less per unit on this order than on normal sales.
Direct labor is a variable cost in this company.
Suppose there is not enough idle capacity to produce all of the units for the overseas customer and accepting the special order would require cutting back on production of 1,000 units for regular customers. The minimum acceptable price per unit for the special order is closest to: __________
Answer:
Ash Corporation
The minimum acceptable price per unit for the special order is closest to:
= $94.93.
Explanation:
a) Data and Calculations:
Normal production capacity per month = 46,000 units
Per Unit
Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Fixed manufacturing overhead $18.50
Variable selling & administrative expense $3.00
Fixed selling & administrative expense $14.00
The normal selling price of the product = $98.10 per unit.
Special order = 2,600 units
Relevant costs:
Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Variable selling & administrative expense $1.20
Total relevant costs per unit $57.20
Total variable cost for the special order = $148,720 ($57.20 * 2,600)
Loss sales revenue (1,000 * $98.10) 98,100
Total cost for the special order = $246,820
Minimum acceptable price per unit = $94.93 ($246,820/2,600)
Lester hopes to earn $1100 in interest in 1.5 years time from $22,000 that he has available to invest. To decide if it's feasible to do this by investing in an account that compounds quarterly, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be
Answer:
The answer is "3.27%"
Explanation:
[tex]P = \$ 22,000\\\\t = 1.5\\\\I= \$ 1,100\\\\A=P+I=\$22,000+1,100=\$ 23,100\\\\n = 4\\\\[/tex]
Using formula:
[tex]\bold{A=P(1+\frac{r}{n})^{nt}}\\\\[/tex]
[tex]23,100=22,000(1+\frac{r}{4})^{4\times 1.5}\\\\23,100=22,000(1+\frac{r}{4})^{6}\\\\\frac{23,100}{22,000}=(1+\frac{r}{4})^{6}\\\\1.05=(1+\frac{r}{4})^{6}\\\\1.05^{\frac{1}{6}}=(1+\frac{r}{4})\\\\1.008164846=(1+\frac{r}{4})\\\\1.008164846-1=\frac{r}{4}\\\\0.008164846=\frac{r}{4}\\\\r=0.008164846\times 4\\\\r=0.03266\\\\r=3.266\% \approx 3.27\%[/tex]
In the short run, open-market purchases a. increase investment and real GDP, and decrease interest rates. b. increase real GDP and interest rates, and decrease investment. c. increase investment and interest rates, and decrease real GDP. d. decrease investment, interest rates, and real GDP.
Answer: a. increase investment and real GDP, and decrease interest rates.
Explanation:
During an Open Market Purchase, the central bank of the country would be buying back securities from the public which means that it would be infusing money into the economic system.
With an increased amount of money in the economy, people will be able to save more which means that interests rate will drop because there are now more loanable funds. This drop in interest rates will encourage more companies and people to borrow cash for investment which will then lead to a higher GDP.
In the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.
The interest rate has been the amount of interest lent onto the principal sum. The GDP has been the gross domestic product that has been the market value of the final products.
In the open-market purchase, there has been an increase in the amount of money in the market. The government has been buying the securities and results in the market flow of money. The market flow will eventually result in an increase in the GDP with the decreased interest rates.
Thus in the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.
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A company purchased $2,300 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $450 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Answer:
Dr Accounts payable 1850
Cr Merchandise inventory $37
Cr Cash $1813
Explanation:
Preparation of the journal entry to record the payment on July 12 Using the gross method,
JOURNAL ENTRY
Jul-12
Dr Accounts payable ($2300-450) 1850
Cr Merchandise inventory ($1850*2%) $37
Cr Cash $1813
($1850-$37)
(Being entry recorded for payment to supplier)
Jennifer is the sole beneficiary of an irrevocable trust created by her father. Income and principal may be distributed to her at the trustee's discretion. Jennifer has a 5-and-5 power of appointment over the trust. Jennifer died last month at which time the trust was valued at $2,500,000. She did not withdraw any money from the trust this year. How much of the trust was included in her estate at death
Answer:
$125,000
Explanation:
Calculation to determine How much of the trust was included in her estate at death
Since she has 5-and-5 power of appointment over the trust which means that she has the ability to withdraw the GREATER of 5% of fair market value (fmv) of the trust or the amount of $5,000.
Hence, the amount that was included in her estate at death will be $125,000 which is calculated as (5%*trust valued amount of $2,500,000)
Therefore How much of the trust was included in her estate at death is $125,000
