Answer:
b
Explanation:
Danke is experiencing economies of scale. Economies of scale occurs when the cost of production decreases as output increases. As output increases, total cost reduces and value increases
Economies of scope is when the cost of producing two goods jointly is lower when compared with the cost of producing the goods separately
Answer:
brain ded
Explanation:
Scooby ate all my scooby snax
s borrows $12,000 for a shortterm purpose. The loan will be repaid after 120 days, with Simpson paying a total of $12,400. What is the approximate cost of credit using the APR, or annual percentage rate, calcula
Answer:
the approximate cost of credit using the APR, or annual percentage rate is 10.34%
Explanation:
The computation is shown below:
Interest Paid should be
= $12,400 - $12,000
= $400
Now
Cost of capital for 120 days is
= $400 ÷ 12000
= 3.33%
And, finally
Annual percentage rate is
= 3.33% × 365 ÷ 120
= 10.34%
Hence, the approximate cost of credit using the APR, or annual percentage rate is 10.34%
Suppose an industrial building can be purchased for $2,500,000 today and is expected to yield cash flows of $180,000 each of the next five years. (Note: assume cash flows are received at end of year.) If the building is expected to be sold at the end of the fifth year for $2,800,000, calculate the IRR for this investment over the five year holding period
Answer: 9.20%
Explanation:
Use Excel to find out the IRR.
Ensure that you write the purchase price in negatives as shown in the attached picture.
The cashflow for the last year will be the sum of the selling price and the cash flow.
= 2,800,000 + 180,000
= $2,980,000
IRR = 9.20%
In order to remain certified, I have to:
Submit a renewal form.
Complete a seller training course every 2 years.
Complete a 30 minute refresher course.
Do nothing, the certificate never expires.
In order to remain certified, you have to complete a seller training course every 2 years. Option B. This is further explained below.
What is the training course?Generally, the training course is simply defined as several types of training courses, and each one teaches a certain set oaf abilities.
In conclusion, Every two years, you must retake a seller training course to keep your certification current.
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At the beginning of the period, the Cutting Department budgeted direct labor of $125,000, direct materials of $151,000 and fixed factory overhead of $11,800 for 8,000 hours of production. The department actually completed 10,600 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting? Round hourly rates to two decimal places. Round interim calculations to two decimal places. Round your final answer to the nearest dollar. a.$381,335 b.$377,606 c.$291,635 d.$287,800
Answer:
the appropriate total budget should be $377,500
Explanation:
The computation of the appropriate total budget should be given below:
Direct material ($151,000 ÷ 8,000 × 10,600) $200,075
direct labor ($125,000 ÷ 8,000 × 10,600) $165,625
fixed factory overhead $11,800
Total budget cost 377,500
Hence, the appropriate total budget should be $377,500
This is the answer but the same is not provided in the given options
Various shareholders' equity topics; comprehensive
Part A
In late 2010, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2011, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2011. (Assume net income for the first quarter 2011 was $1,000,000.)
Part B
During 2011, the Nicklaus Corporation participated in three treasury stock transactions:
a. On June 30, 2011, the corporation reacquires 200,000 shares for the treasury at a price of $12 per share.
b. On July 31, 2011, 50,000 treasury shares are reissued at $15 per share.
c. On September 30, 2011, 50,000 treasury shares are reissued at $10 per share.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2011. (Assume net income for the second and third quarter was $3,000,000.)
Part C
On October 1, 2011, Nicklaus Corporation receives permission to replace its $1 par value common stock (5,000,000 shares authorized, 3,000,000 shares issued, and 2,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.
On November 1, 2011, the Nicklaus Corporation declares a $.05 per share cash dividend on common stock and a $.25 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2011, to shareholders of record on November 15, 2011.
On December 2, 2011, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2011, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 58,000 (.01 × 5,800,000) additional shares being issued to shareholders.
Required:
1. Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2011, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,500,000.)
3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2011.
Answer:
good question. Wait for the answer
Explanation:
When Matt has an income of $2,000, he consumes 30 units of good A and 50 units of good B. After Matt's income increases to $3,000, he consumes 25 units of good A and 95 units of good B. Which of the following statements is correct?
a. Both goods A and B are normal goods.
b. Both goods A and B are inferior goods.
c. Good A is a normal good, and good B is an inferior good.
d. Good A is an inferior good, and good B is a normal good.
Answer:
onoooooo seeeeeeeeeeeeeeeeeeeeeeeeeeeeee
When Matt has an income of $2,000, he consumes 30 units of good A and 50 units of good B. After Matt's income increases to $3,000, he consumes 25 units of good A and 95 units of good B. Good A is a normal good, and good B is an inferior good is the correct statement. Option C is the correct answer.
A normal good is a type of good for which demand increases as income increases. In this scenario, as Matt's income increases from $2,000 to $3,000, his consumption of good A decreases from 30 units to 25 units. This indicates an inverse relationship between his income and the quantity of good A consumed, suggesting that good A is a normal good. Option C is the correct answer.
On the other hand, an inferior good is a type of good for which demand decreases as income increases. In this case, as Matt's income increases, his consumption of good B increases from 50 units to 95 units. This suggests a positive relationship between his income and the quantity of good B consumed, indicating that good B is an inferior good.
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Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
Sales Mix Unit Contribution Margin
Lawnmowers 20% $33
Weed-trimmers 50% $21
Chainsaws 30% $37
Yard Tools has fixed costs of $4,200,000.
Required:
Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix.
Answer:
Lawnmowers’ break-even point in units = 29,787 units
Weed-trimmers’ break-even point in units = 74,468 units
Chainsaws' break-even point in units = 44,681 unit
Explanation:
Given:
Sales Mix Unit Contribution Margin
Lawnmowers 20% $33
Weed-trimmers 50% $21
Chainsaws 30% $37
The number of units of each product that Yard Tools must sell in order to break even under this product mix can be computed using Weighted-Average Contribution Margin Ratio as follows:
Weighted contribution margin = (Sales Mix of Lawnmowers * Unit Contribution Margin of Lawnmowers) + (Sales Mix of Weed-trimmers * Unit Contribution Margin of Weed-trimmers) + (Sales Mix of Chainsaws * Unit Contribution Margin of Chainsaws) = (20% * $33) + (50% * $21) + (30% * $37) = $28.20
Total break-even point in units for the company = Fixed cost / Weighted contribution margin = $4,200,000 / $28.20 = 148,936 units
Therefore, we have:
Lawnmowers’ break-even point in units = Sales Mix of Lawnmowers * Total break-even point in units for the company = 20% * 148,936 = 29,787 units
Weed-trimmers’ break-even point in units = Sales Mix of Weed-trimmers * Total break-even point in units for the company = 50% * 148,936 = 74,468 units
Chainsaw’s break-even point in units = Sales Mix of Chainsaws * Total break-even point in units for the company = 30% * 148,936 = 44,681 units
You were asked to read U.S. Statistics in 1912 and in your writing journal, you reflected upon how different your life would be had you lived 100 years ago. The learning objective of this assignment was:__________
Explanation:
Hi, you've asked an incomplete question. However, based on inference, after consult relevant academic material, the learning objective on this particular assignment is stated below;
"To think about things like your education, career goals, romantic relationships, how you get around, and your physical health, write at least one paragraph explaining how such aspects of your life would have changed had you lived in the early 1900s."
Inflation imposes many costs on the economy: shoe-leather costs, money illusion, menu costs, wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
a. True
b. False
Answer: True
Explanation:
Inflation refers to the decline in the purchasing power of a currency over time. Inflation creates shoe leather cost which refers to the cost of time and.the effort by which individuals spend so as to mitigate the effects of inflation, like holding fewer cash.
Also, inflation creates money illusion as there's reduction in the value of money that one holds. Inflation creates menu costs as prices goes up. It also brings about wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
Therefore, the correct option is True.
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are:
Answer:
1. The correct option is C. 54.
2. The correct option is E. 60.
3. The correct option is A. 3.
4. The correct option is E. 90%.
5. The correct option is E. y.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product:
Task Time (sec) Immediate Predecessor
u 30 none
v 30 u
w 6 u
x 12 w
y 54 x
z 30 v, y
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
A. 162
B. 72
C. 54
D. 12
E. 60
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
A. 162
B. 72
C. 54
D. 12
E. 60
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
A. 3
B. 4
C. 5
D. 6
E. 7
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
A. 100%
B. 92.5%
C. 75%
D. 87.5%
E. 90%
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
A. u
B. v
C. w
D. x
E. y
The explanation of the answers is now provided as follows:
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
The minimum cycle time is equal to the maximum task time. From the data in the question, it can be seen that the maximum task time is 54. Therefore, the correct option is C. 54. That is, the minimum possible cycle time (in seconds) for this situation is 54.
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
Desired cycle time (in seconds) = Demand rate / Number of hours per days = 480 / 8 = 60
Therefore, the correct option is E. 60.
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
Total task time = 30 + 30 + 6 + 12 + 54 + 30 = 162
Minimum possible cycle time = 54
Therefore, we have:
Minimum number of workstations needed = Total task time / Minimum possible cycle time = 162 / 54 = 3
Therefore, the correct option is A. 3.
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
Line efficiency = Total task time / (Minimum number of workstations needed * Desired cycle time) = 162 / (3 * 60) = 162 / 180 = 0.90, or 90%
Therefore, the correct option is E. 90%.
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
The last task should be the one has the longest task time. From the data table in the question, it can be observed that y is the task that has the longest task time. This implies y is the task to perform last.
Therefore, the correct option is E. y.
Labor productivity is?
Answer:
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure.
Which of the following combinations is ensured to increase?
please you can give any option or full question
A small component is purchased for the use in the production of a major product. The standard price of the component is $0.85. During a recent period, 7,800 units were purchased and 6,800 were actually used. The standard quantity of units allowed for the actual output of the period was 6,540 units. What was the materials quantity variance
Answer:
See below
Explanation:
Given the above information,
Material quantity variance is computed as;
= (Actual quantity - Standard quantity of units allowed for the actual output )
Actual quantity = 6,800 units
Standard quantity = 6,540 units
= 6,800 - 6,540
= 260 units
Therefore, the materials quantity variance is 260 Unfavourable.
It is unfavourable because the standard is higher than the actual
Randel Manufacturing has five activity cost pools and two products (a budget tape vacuum and a deluxe tape vacuum). Information is presented below:
Cost Drivers by Product Activity Cost Pool Ordering and Receiving Machine Setup Machinine Assembly Inspection Cost Driver Estimated Overhead Budget Deluxe $130,000 Orders Setups Machine hours Parts 400 400 150,000 100,000 600 297,000 500 1,000,000 600,000 1,200,000 800,000 300,000 550 450
Compute the overhead cost per unit for each product. Production is 700,000 units of Budget and 200,000 units of Deluxe. (Round overhead cost per unit to 2 decimal places, eg. 12.25 and cost assigned to O decimal places, eg. 2,500)
Overhead cost per unit
Budget S per unit
Deluxe $ per unit
Answer:
Randel Manufacturing
Overhead cost per unit
Budget $2.81 per unit
Deluxe $6.80 per unit
Explanation:
a) Data and Calculations:
Cost Drivers by Product
Activity Cost Pool Cost Driver Estimated Budget Deluxe
Overhead
Ordering and Receiving Orders $130,000 600 400
Machine Setup Setups 297,000 500 400
Machining Machine hours 1,000,000 150,000 100,000
Assembly Parts 1,600,000 1,200,000 800,000
Inspection Inspections 300,000 550 450
Cost Pool Overhead Rates
Ordering and Receiving $130 ($130,000/1,000) per order
Machine Setup $330 ($297,000/900) per setup
Machining $4 ($1,000,000/250,000) per machine hour
Assembly $0.80 ($1,600,000/2,000,000) per part
Inspection $300 ($300,000/1,000) per inspection
Estimated Rates Budget Deluxe
Overhead
Ordering and Receiving $130 $78,000 $52,000
Machine Setup $330 165,000 132,000
Machining $4 600,000 400,000
Assembly $0.80 960,000 640,000
Inspection $300 165,000 135,000
Total overhead costs $1,968,000 $1,359,000
Production units 700,000 200,000
Overhead per unit $2.81 $6.80
According to the growth accounting studies, if you lived in a country where illiteracy was high and 40% of the children left school early and did not complete their education what would probably be the results for that country
Answer: b. There would be both a human and economic loss.
Explanation:
Education is usually necessary for economic growth as educated human beings are better able to engage in higher income businesses and services and come up with or be able to use better technology that would serve to improve the economy of a country.
This is why developed countries have such high literacy rates and developing countries lag behind. Research has shown that most developed countries really saw growth only after they pursed a national policy aimed at improving literacy.
The master budget of a merchandising company includes a:_______
a. Production budget.
b. Direct materials budget.
c. Factory overhead budget.
d. Direct labor budget.
e. Purchases budget.
Answer:
a. Production budget.
Explanation:
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A quality control activity analysis indicated the following four activity costs of a hotel:
Inspecting cleanliness of rooms $49,300
Processing lost customer reservations 98,600
Rework incorrectly prepared room service meal 246,500
Employee training 98,600
Total $493,000
Sales are $2,900,000. Prepare a cost of quality report. Round percent of sales to one decimal place.
The Cost of Quality Report is as follows:
Quality Cost Quality Percentage of Percentage of
Classification Cost Quality Cost Total Sales
Prevention $98,600 20% ($98,600/$493,000) 3.4%
Appraisal 49,300 10% ($49,300/$493,000) 1.7%
Internal Failure 246,500 50% ($246,500/$493,000) 8.5%
External Failure 98,600 20% ($98,600/$493,000) 3.4%
Total Quality Costs $493,000 100% 17.0%
Data and Calculations:
Inspecting cleanliness of rooms $49,300 (Appraisal)
Processing lost customer reservations 98,600 (External failure)
Rework incorrectly prepared room service meal 246,500 (Internal failure)
Employee training 98,600 (Prevention)
Total $493,000
Sales $2,900,000
Percentage of Quality Cost = Quality Cost/Total Quality Cost * 100
Percentage of Total Sales = Quality Cost/Total Sales * 100
Thus, the cost of quality report is an appraisal of how the hotel uses its resources to prevent poor quality, including its internal and external failures.
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Cost of Goods Sold, Cost of Goods Manufactured
Glenville Company has the following information for April:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Work in process inventory, April 1 34,000
Work in process inventory, April 30 27,000
Finished goods inventory, April 1 24,000
Finished goods inventory, April 30 18,000
a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.
b. For April, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold.
Answer and Explanation:
a. The preparation of the statement of Cost of Goods Manufactured is presented below:
Work in process inventory, April 1 34,000
Add:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Less:
Work in process inventory, April 30 27,000
Cost of goods manufactured $115,000
b. The preparation of the statement of Cost of Goods Sold is presented below:
Finished goods inventory, April 1 24,000
Add: cost of goods manufactured $115,000
Less: Finished goods inventory, April 30 18,000
Cost of goods sold $121,000
For the remaining questions, please consider the following transactions that happened upon the incorporation of Berry Company by its owner, John Berry, during the first week of January:
· It received €50,000 in cash from John Berry as capital.
· It borrowed €30,000 from a local bank.
· It purchased €15,000 of equipment for cash.
· It purchased €20,000 of inventory on account.
· It pre-paid €3,000 for the office rent and €2,000 for the insurance.
What is the total current assets at the end of the week?
Answer: €100,000
Explanation:
Cash received is an assetThe money borrowed is also cash so assets increaseEquipment was exchanged for cash. Both of them are assets so there is NO EFFECT on assets here. Inventory purchased on account will increase assets because assets were acquired with liabilities in this instance. Prepayments are assets but because this was paid with cash, there is NO EFFECT on assets as they cancel each other out.Total assets at the end of the week are:
= Cash + Cash borrowed + Inventory purchased on account
= 50,000 + 30,000 + 20,000
= €100,000
The contribution margin format income statement: Multiple Choice is most frequently used for financial statement reporting purposes. uses a behavior pattern classification for costs rather than a functional cost classification approach. emphasizes that all costs change in proportion to any change in revenues. results in a larger amount of operating income than the traditional income statement format.
Answer: uses a behavior pattern classification for costs rather than a functional cost classification approach.
Explanation:
The behavioral pattern of a cost refers to its relationship with the volume of production or sales. Costs that change along with the volume of production or sales are termed "variable costs" and costs that do not change are termed "fixed costs".
The Contribution Margin income statement classifies costs by whether they are variable or fixed which is why it is said that the format uses a behavioral for cost classification pattern not a functional one.
Denny Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. The new machine would cost $130,000 and would have a ten-year useful life. Unfortunately, the new machine would have no salvage value. The new machine would cost $16,000 per year to operate and maintain, but would save $46,000 per year in labor and other costs. The old machine can be sold now for scrap for $13,000. The simple rate of return on the new machine is closest to (Ignore income taxes.):
Answer:
The simple rate of return on the new machine is closest to 14.53%.
Explanation:
Assuming a straight-line depreciation method, we have:
Annual deprecation = Cost of the new machine / Useful life = $130,000 / 10 = $13,000
Net annual benefit = Annual saving - Annual operating and maintenance cost - Annual deprecation = $46,000 - $16,000 - $13,000 = $17,000
Net investment = Cost of the new machine - Scrap value of the old machine = $130,000 - $13,000 = $117,000
Simple rate of return on the new machine = Net annual benefit / Net investment = $17,000 / $117,000 = 0.1453, or 14.53%
Therefore, the simple rate of return on the new machine is closest to 14.53%.
Depletion Entries Alaska Mining Co. acquired mineral rights for $9,432,000. The mineral deposit is estimated at 52,400,000 tons. During the current year, 7,850,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. $fill in the blank b21c5bf8507dfbf_1 b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank.
Answer:
a.$1,413,000
b.Dr Depletion Expense $1,413,000
Cr Accumulated Depletion $1,413,000
Explanation:
a. Calculation to determine the amount of depletion expense for the current year.
First step is calculate the depletion per ton
Depletion per ton=$9,432,000/52,400,000 tons Depletion per ton= $0.18 per ton
Now let calculate the depletion expense
Depletion expense =7,850,000 tons × $0.18
Depletion expense = $1,413,000
Therefore the amount of depletion expense for the current year is $1,413,000
b. Preparation of the adjusting entry on December 31 to recognize the depletion expense
Dr Depletion Expense $1,413,000
Cr Accumulated Depletion $1,413,000
(To record Depletion of mineral deposit)
________ controls cover security processes that are designed by strategic planners and implemented by the security administration of the organization. a. Operational b. Informational c. Technical d. Managerial
Answer:
d. Managerial
Explanation:
The managerial controls covers the process of the security that could be designed via strategic planners and the same should be implemented via the organization security administration
So as per the given situation, the option d is correct
And, the rest of the options are incorrect
The same should be relevant
Purple Cab Company had 57,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 27,000 shares of common stock. The company had outstanding fully vested incentive stock options for 5,700 shares exercisable at $11 that had not been exercised by its executives. The average market price of common stock was $13. The company reported net income in the amount of $276,915 for 2021. What is the basic earnings per share (rounded)
Answer:
$3.58
Explanation:
Calculation to determine the basic earnings per share (rounded)
Using this formula
Basic earnings per share=Net income/(shares of common stock outstanding+(shares of common stock*9/12)
Let plug in the formula
Basic earnings per share=$276,915/(57,000 + (27,000 × 9/12))
Basic earnings per share=$276,915/(57,000+20,250)
Basic earnings per share=$276,915/77,250
Basic earnings per share= $3.58
(April 1 to December 31 =9 months)
Therefore Basic earnings per share is $3.58
A company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year. This is a.an improvement in the margin of safety for creditors. b.an indication that the company's level of debt is increasing. c.a negative change in the company's financial position. d.an improvement in the company's net income.
Answer:
A)an improvement in the margin of safety for creditors.
Explanation:
Margin of safety can be regarded as a principle of investing whereby an investor only make purchases of securities during the time when the market price is below their intrinsic value significantly. In a case whereby
the market price of a security falls below ones estimation of its intrinsic value significantly, then the difference that exist there is regarded as margin of safety. Margin of safety can as well be regarded as financial ratio which gives measurement of the amount of sales which exceed the break-even point. Most times investors may create a margin of safety with regards to their own risk preferences, purchasing of securities in a time that there is a difference give room for an investment to be made with minimal downside risk.
For instance, company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year.
Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end.
Accounts Debits Credits
Cash $ 10,300
Accounts Receivable 9,500
Supplies 2,000
Prepaid Rent 7,200
Equipment 90,000
Accumulated Depreciation $ 12,000
Accounts Payable 7,700
Salaries Payable 0
Interest Payable 0
Utilities Payable 0
Notes Payable 20,000
Common Stock 45,000
Retained Earnings 19,000
Service Revenue 42,200
Salaries Expense 24,500
Interest Expense 0
Rent Expense 0
Supplies Expense 0
Utilities Expense 2,400
Depreciation Expense 0
Totals $ 145,900 $ 145,900
Information necessary to prepare the year-end adjusting entries appears below.
a. Depreciation of equipment for the year is $6,000.
b. Accrued salaries at year-end should be $2,100.
c. Crimson Tide borrows $20,000 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 12%.
d. Unused supplies at year-end total $700. Crimson Tide debits Supplies at the time supplies are purchased.
e. Crimson Tide opens a second studio by paying for one year of rent in advance on April 1, 2018, for $7,200 ($600 per month) debiting Prepaid Rent.
f. Unpaid utilities for December total $200.
Required:
1) Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.
2) prepare an adjusted trial balance.
3a ) prepare an income statement for the year end december 31,2018.
3b) prepare a statement of sharholders equity for the year ended decmber 31,2018.
3c) prepare a classified balance sheet for the year ended december 31, 2018.
4) record the closing entries.
5) prepare a post-closing trial balance.
Answer:
asdasd sadad asd asdas 2 212 313135 54 554 dsa asd sad asa sd
Explanation:
During a risk brainstorming session a team member identifies a risk. This particular risk does not seem to belong to any of the categories in you Risk Breakdown Structure (RBS). How should you respond
Answer:
Record it in the risk register, discuss potential responses and make a note to update the RBS.
Explanation:
Risk management is the process by which the management of an organisation identifies, assessed, and controls threats that may affect the company's capital or earnings.
The risks can be as a result of natural disasters, management error, financial uncertainty, or accidents.
In the given instance if a risk is not on any of the categories in you Risk Breakdown Structure (RBS), there is need to record it in the risk register, discuss potential responses and make a note to update the RBS.
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 26 percent for the next 3 years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 14 percent and the company just paid a $1.90 dividend. what is the current share price
Answer:
$46.20
Explanation:
Dividend in year 1 = 1.90 x 1.26 = 2.39
Dividend in year 2 = 1.90 x 1.26² = 3.02
Dividend in year 3 = 1.90 x 1.26³ = 3.80
Dividend in year 3 = (3.80 x 1.07) / (0.14 - 0.07) = 58.10
Calculate the present value of these dividends
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 = 2.39
Cash flow in year 1 = 3.02
Cash flow in year 1 = 3.80 + 58.10
I = 14
PV = $46.20
To determine PV using a financial calculator take the following steps:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
A small ice cream business earns $26538 profit during the two months of July and August. This represents 35% of the annual profit. Find the annual profit. Round to the nearest whole number.
Let the annual profit be x.
profit earned in July and August is 35% of the annual profit
=> $26538 = 35% of x
=> $26538 = (35/100) × x
=> $26538 × (100/35) = x
=> $2653800/35 = x
=> $530760/7 = x
So, the profit is $530760/7.
The annual profit is $75,823.
Given that,
Two months profit is $26,538.This two month profit represents 35% of annual profit.We need to find annual profit.According to the scenario, computation of the given data are as follows,
Let annual profit be X.
So, X [tex]\times[/tex] 35% = 26,538
X = 26,538 [tex]\div[/tex] 0.35
X = 75,822.86 or 75,823
Hence annual profit = $75,823.
Learn more : https://brainly.com/question/21003301
How does unemployment impact a society
People living in a society judge a person very quickly If the person is unemployment society starts to judge and they start to dominate who is unemployment
To decrease unemployment we need to respect each work but the people living in a society starts to judge people and that's the great weakness of the people so if Unemployment is decreased in the country, than there would be positive impact
i hope i have give my answer according to my thoughts
