Answer:
Net sales revenue= 220,100
Explanation:
Giving the following information:
Sales, gross $ 245,000
Sales returns and allowances $ 20,000
Sales discounts 4,900
Sales salaries expense 10,900
Sales salaries expense is not a part of the net sales in a multiple-step income statement. The net sales are as follow:
Sales= 245,000
Sales returns and allowances= (20,000)
Sales discounts= (4,900)
Net sales revenue= 220,100
Assume that a firm had shareholders' equity on the balance sheet at a book value of $1,500 at the end of 2010.During 2011 the firm earns net income of $1,900,pays dividends to shareholders of $200,and issues new stock to raise $500 of capital.The book value of shareholders equity at the end of 2011 is:_______.
A) $2,750
B) $250
C) $1,450
D) $3,700
Answer:
The book value of shareholders equity at the end of 2011 is:_______.
D) $3,700.
Explanation:
a) Data and Calculations:
Beginning shareholders equity book value = $1,500
Net income during 2011 = 1,900
Dividends paid to shareholders (200)
Issuance of new stock 500
Ending shareholders equity book value = $3,700
b) The book value of equity at the end of 2011 is equal to the book value at the beginning of 2011 plus net income generated during 2011, issuance of new stock, minus dividends paid to shareholders.
Break-Even Units: Units for Target Profit Jay-Zee Company makes an in-car navigation system. Next year, Jay-Zee plans to sell 16,000 units at a price of $320 each. Product costs include: Direct materials $68
Direct labor $40
Variable overhead $12
Total fixed factory overhead $500,000
Variable selling expense is a commission of 5 percent of price; fixed selling and administrative expenses total $116,400.
Required:
1. Calculate the sales commission per unit sold. Calculate the contribution margin per unit.
2. How many units must Jay-Zee Company sell to break even? Prepare an income statement for the calculated number of units.
3. Calculate the number of units Jay-Zee Company must sell to achieve target operating income (profit) of $333,408.
4. What if the Jay-Zee Company wanted to achieve a target operating income of $322,000? Would the number of units needed increase or decrease compared to your answer in Requirement 3? Compute the number of units needed for the new target operating income.
Answer:
Jay-Zee Company
1. Sales commission per unit sold is:
= $16.
The Contribution margin per unit is:
= $184.
2. Break-even units are:
= 3,350 units
Income Statement for 3,350 units:
Sales revenue $1,072,000 ($320 * 3,350)
Variable cost of goods sold 455,600 ($136 * 3,350)
Contribution margin $616,400 ($184 * 3,350)
Fixed costs:
Factory overhead $500,000
Selling and administrative 116,400
Total fixed costs $616,400
Net operating income $0
3. Units to sell to achieve income of $333,408 are:
= 5,162 units
4. The number of units needed would decrease.
The number of units needed for the new target operating income is:
= 5,100 units.
Explanation:
a) Data and Calculations:
Planned sales unit for the next year = 16,000
Sales price per unit = $320
Product costs:
Direct materials $68
Direct labor $40
Variable overhead $12
Total fixed factory overhead $500,000
Variable selling expense = $16 ($320 * 5%)
Fixed selling and administrative expenses = $116,400
Total variable costs per unit = $136
Contribution margin per unit = $184 ($320 - $136)
Total fixed costs = $616,400 ($500,000 + $116,400)
To break-even, units to sell = $616,400/$184 = 3,350 units
Units to sell to achieve a profit target of $333,408:
= $616,400+ $333,408/$184
= 5,162 units
Units to sell to achieve a profit target of $333,408:
= $616,400+ $322,000/$184
= 5,100 units
Payback Period Payson Manufacturing is considering an investment in a new automated manufacturing system. The new system requires an investment of $1,200,000 and either has: Even cash flows of $800,000 per year or The following expected annual cash flows: $150,000, $150,000, $400,000, $400,000, and $100,000.
Required:
Calculate the payback period for each case.
Answer:
Assuming cashflows of $800,000 a year:
Payback period = Investment / Stable cashflow
= 1,200,000 / 800,000
= 1.5 years
Assuming uneven cashflows:
Payback period = Number of years before payback year + Cash remaining to be paid / Cashflow in payback period
= 150,000 + 150,000 + 400,000 + 400,000
= $1,100,000
Years before payback year = 4 years
Cash remaining to be paid back = Investment - Cashflow so far
= 1,200,000 - 1,100,000
= $100,000
Payback period = 4 + 100,000 / 100,000
= 5 years
out line four roles played by entrepreneurs in Kenya
Answer:
To be a successful entrepreneur it is necessary for the individual to develop essential communication skills, creativity, innovation and the ability to deal with the risks inherent in the business.
A well-positioned and competitive business is one that manages to create value for consumers by offering products and services that satisfy their wants and needs.
In Kenya, entrepreneurship has stood out as a means for citizens to seek employment and income opportunities, especially in opening up trade in products and services.
Entrepreneurship helps a country to develop by moving the economy and improving the population's quality of life, so it is necessary to have government incentives and information available on the subject.
The three key pieces of information that are stated on a bond certificate are the: A. stated interest rate, the face value of the bond, and the maturity date. B. market interest rate, the price of the bond, and the maturity date. C. interest payment, the face value of the bond, and the credit rating of the company. D. interest payment, the issue price of the bond, and the credit rating of the company.
A bond certificate should contain stated interest rate, the face value of the bond, and the maturity date.
A bond certificate simply refers to a certificate of debt which is usually issued either by the government or a corporation. The main idea behind the issuing of a bond certificate is to raise money.
The bond certificate states the bond details e.g. the bond par value, interest rate, maturity date etc.
In conclusion, the correct option is A.
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Doanh nghiệp được trích trước tiền lương nghỉ phép của toàn bộ người lao động trong công ty. Đung hay sai
Answer:
sai
Explanation:
Answer:
Explanation:
Đúng
What happens in the foreign exchange market when a surplus of dollars exists? When there is a surplus of dollars in the foreign exchange market, _______.
Answer:
prices will decrease
Explanation:
The forex market is balanced when there exists when the quantity supply of any currency is equal to the quantity demanded. If the market has a surplus or shortages the rates will adjust accordingly.Suppose that XYZ Company hires labor and capital in competitive input markets. Assume that labor costs $200 per day and that a unit of capital costs $150 per day. At the current level of production, labor's marginal product is 40 units of output produced per day and capital's marginal product is 30 units of output per day.
a) Given the information provided, is the firm minimizing the cost of current production? Explain why or why not.
b) If the daily wages were to increase, explain the long run adjustments that the firm would likely make in response to the wage increase.
Answer:
a) Yes, the firm is minimizing the cost of current production. This is because MRPL / w = MRPC / r = 0.20.
b) The long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.
Explanation:
a) Given the information provided, is the firm minimizing the cost of current production? Explain why or why not.
The condition for the cost minimization of a firm is as follows:
MRPL / w = MRPC / r ……………………………. (1)
Where:
MRPL = Labor's marginal product = 40
w = Cost of labour = $200
MRPC = Capital's marginal product = 30
r = Cost of capital = 150
Therefore, we have:
MRPL / w = 40 / 200 = 0.20
MRPC / r = 30 / 150 = 0.20
Since MRPL / w = MRPC / r = 0.20, this implies that these conditions are consistent with equation (1). Therefore, the firm is minimizing the cost of current production.
b) If the daily wages were to increase, explain the long run adjustments that the firm would likely make in response to the wage increase.
If the daily wages were to increase, the MRPL / w in equation (1) in part a above will fall and we will have:
MRPL / w < MRPC / r …………………… (2)
Since equation (2) is no longer consistent with equation (1), the firm is NOT minimizing the cost of current production.
Therefore, the long run adjustments that the firm would likely make in response to the wage increase is to use more labor and less capital until MRPL / w = MRPC / r, which is the condition for the cost minimization of a firm.
Which assertion relates to the following statement? "Assets, liabilities, and equity interests are included in the financial statements at appropriate amounts
Answer: Valuation
Explanation:
The assertion that assertion relates to the statement that Assets, liabilities, and equity interests are included in the financial statements at appropriate amounts is the valuation assertion.
According to the assertion of accuracy and valuation, it simply means that all the figures that are presented in a financial statement are known to be accurate and are based on proper valuation of the assets, the liabilities and the equity balances
Carpet Renewal dyes carpets for residential customers. The company is interested in estimating fixed and variable costs. The following data are available for the month of June when 420 carpets were dyed:
Office rent $ 1,250
Depreciation - equipment 900
Cleaning supplies 5,140
Hourly wages 11,000
Transportation (variable) 3,600
Owner’s salary 3,100
Total $24,990
Using account analysis, how much is estimated variable cost per carpet?
a. $59.50
b. $52.12
c. $47.00
d. $38.43
Answer: c. $47 per carpet
Explanation:
Total variable costs are:
= Cleaning supplies + Hourly wages + Transportation
= 5,140 + 11,000 + 3,600
= $19,740
The variable cost per carpet is:
= Total variable cost / Number of carpets dyed
= 19,740 / 420
= $47 per carpet
MC Qu. 98 Garcia Corporation's April sales forecast... Garcia Corporation's April sales forecast projects that 6,100 units will sell at a price of $10.60 per unit. The desired ending inventory is 10% higher than the beginning inventory, which was 1,100 units. Budgeted purchases of units in April would be:
Answer:
Total budgeted purchases = $65,826
Explanation:
Budgeted purchases
Sales forecast = 6,100 units
Ending inventory 1,100 * 110% = 1,210 units
Required units = 7,310
- Beginning inventory = 1,100 units
Units to be purchased = 6,210
Cost per unit = $10.60
Total budgeted purchases = $65,826
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $267,000 and Total Liabilities of $103,000. During the year, the company reported total revenues of $314,000 and expenses of $243,000. Also, owner withdrawals during the year totaled $64,000. Assuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be:
Answer:
171000
Explanation:
Assets. 267000
-Liabilities. 103000
=owners equity. 164000
+revenues. 314000
-expenses. 243000
-withdrawal. 64000
=ending equity. 171000
The following costs were incurred in May:
Direct materials $39,400
Direct labor $34,000
Manufacturing overhead $21,600
Selling expenses $19,700
Administrative expenses $38,600
Conversion costs during the month totaled: ______________
a. $61,000
b. $153,300
c. $73,400
d. $55,600
Answer:
d. $55,600
Explanation:
Direct Labor = $34,000
Manufacturing Overhead Cost = $21,600
Conversion Cost = Direct Labor + Manufacturing Overhead Cost
Conversion Cost = $34,000 + $21,600
Conversion Cost = $55,600
So, the conversion costs during the month totaled $55,600.
in a printing job, the cost of producing a thousand brochures was GH3500.The publisher decided to sell these brochures at 125% gross profit.How much shall he sell each brochure
1000 Brochures making cost = GH3500
Profit = 125%
= 125/100×3500
= 4375
Profit = 875
Each brochures = 4375/1000
= 4.375
Therefore each brochures will be sold at GH 4.375
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_______ applications allow you to perform tasks on your computer.
Question 5 options:
Desktop
Laptop
Mobile
None of the above
Answer:
none of the above
Explanation:
cause I think the answer is software applications which isnt on the options.
I hope this helps
The primary responsibility for establishing and maintaining internal control rests with
А
The controller
В.
The internal auditor
С
The treasurer
D
Management
Answer:
D
Explanation:
Management is responsible for establishing and maintaining internal control to achieve the objectives of effective and efficient operations, reliable financial reporting, and compliance with applicable laws and regulations.
A share of stock sells for $53 today. The beta of the stock is .7 and the expected return on the market is 16 percent. The stock is expected to pay a dividend of $1.00 in one year. If the risk-free rate is 5.2 percent, what should the share price be in one year?
Answerueueyehrgrgr
Explanation:
In 2012, Wingen Inc. sold 325,000 units at $8 each .Sales volume is expected to increase by 15 percent in 2013 while the price of each unit is expected to decrease by 15 percent. the expected sales revenue for 2013 is a. $373,750 b.$2,541,500 c.$1,878,500 d.$2,990,000
Answer:
$2541500
Explanation:
Given :
2012 :
Units sold = 325,000
Price per unit = $8
2013 :
Projected increase in volume = 15%
Projected decrease in price = 15%
Expected revenue = sales price * volume sold
Volume in 2013:
Projected Unit sold in 2013 = (1 + 0.15) * 325000 = 373750
units
Projected Price in 2013 = (1 - 0.15) * Price in 2012 = (1 - 0.15) * $8 = $6.80
Expected revenue = $6.80 * 373750 = $2541500
Of all the promotional tools we looked at, which one is the most effective in getting your attention and interesting you in a product? Conversely, which of the tools is something that has a slim to zero chance of reaching you, much less interesting you?
Answer:
There are basically four tools of promotion namely, Advertisement, public relations, sales promotions, and direct marketing.
Of these, direct marketing will be most effective in capturing my attention while public relations will be less effective to me.
Explanation:
Direct marketing involves establishing direct communication with the potential buyer. It allows for a personal relationship with the buyer. Media such as telemarketing, direct mails, and face-to-face marketing are used to sell the goods. I will be easily convinced because I can easily relate with the person selling the goods and ask questions about the product.
Public relations refers to ways the company formally promotes its image to maintain its customer base. Press release is a measure employed by these companies. I will not be captivated by this because of the formality involved. I believe that through these measures, the company only lets out information they will like you t know.
Klear Manufacturing sells its plant with a cost of $1.2 million to Burt Company for $1.4 million and immediately leases it back for a 15-year term. The transaction does not meet the revenue recognition criteria under ASC Topic 606. At the inception of the sale and leaseback, Klear should debit cash and credit
a. notes payable.
b. sales revenue.
c. lease liability.
d. the asset.
Answer:
Klear Manufacturing
At the inception of the sale and leaseback, Klear should debit cash and credit
c. lease liability.
Explanation:
a) Data and Calculations:
Debit Cash $1.4 million Lease Liability $1.4 million
Debit ROU asset $1.4 million Credit Plant $1.2 million Credit Gain from Sale $0.2 million
b) The sale and leaseback creates a right of use asset as well as a lease liability. Therefore, the Cash account is debited for the cash receipts from the transaction and the Lease Liability is credited. Also debited is the right of use asset with corresponding credits to the Asset account and Gain from Sale.
Year
2016
2017
2018
2019
Cow
P
$300
$350
$370
$380
Q
1000
1050
1100
1200
Bicycle
P
$120
$130
$140
$150
Q
1200
1300
1500
1600
1. Calculate nominal GDP for each year
2. Calculate real GDP for each year
3. Calculate GDP deflator and inflation rate
Consumer sentiment suddenly crashes below early-pandemic levels in the US #accelerationism
of $3.00 per unit. The variable cost to manufacture is $2.00 per unit. The monthly fixed costs are $8000. Its current sales are 29,000 units per month. If the company wants to increase its operating income by 20%, how many additional units must it sell
Answer: 33,200 units
Explanation:
Current operating income = Sales - Variable costs - fixed costs
= (29,000 * 3) - (29,000 * 2) - 8,000
= $21,000
An increase of 20% would be:
= 21,000 * 1.20
= $25,200
The number of units that must be sold is:
= (Fixed costs + Required profit) / Contribution margin
Contribution margin = Selling price - Variable cost
= 3 - 2
= $1
Number of units to be sold is:
= (8,000 + 25,200) / 1
= 33,200 units
g is considering eliminating the fruit product line. If this line is eliminated, Orange Company will be able to eliminate $74,000 of total fixed costs. By how much would this business decision increase operating income
The business decision increase the operating income by $16,000
Calculation of impact of net operating income:
The following formula should be used:
= Contribution margin lost + fixed cost savings
= -$58,000 + $74,000
= $16,000
Since fruit product contributed $58,000 so here we eliminated it due to this it has a loss of $58,000 for the orange company
Therefore we can conclude that that the business decision increase the operating income by $16,000
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Data collection tool of a qualitative research
Answer:
The methods of qualitative data collection most commonly used in health research are document study, observations, semi-structured interviews and focus groups.
Nichols Company uses the percentage of receivables method for recording bad debts expense. The month-end accounts receivable balance is $250,000 and credit sales during the month were $1,000,000. Management estimates that 4% of accounts receivable will be uncollectible. The Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment. The adjusting entry that Nichols must make includes: a. a credit to the allowance for $7,500. b. a credit to the allowance for $30,000. c. a debit to bad debt expense for $10,000. d. a debit to bad debt expense for $40,000.
Answer: a. a credit to the allowance for $7,500
Explanation:
Estimated Bad Debt = Balance on Account receivable x bad Debt loss rate = $250,000 x 4% = $10,000
Allowance for doubtful accounts with a credit balance of $2,500
Allowance for Bad debts expense =Estimated Bad Debt - Credit balance Allowance for doubtful accounts = $10,000 - $2,500 = $7,500
Account titles and explanation Debit Credit
Bad Debt Expense $7,500
Allowance for Doubtful Accounts $7,500
Sellograph Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of Sellograph's sales are on credit. Year 1 Year 2 Accounts receivable $ 150,000 $ 170,000 Inventory 900,000 1,000,000 Accounts payable 1,100,000 1,200,000
Accounts receivable days outstanding at the end of Year 2 is closest to:___________
a. 30.6 days.
b. 26.0 days.
c. 27.0 days.
d. 6.1 days.
Answer: b.
Explanation:
in partnership businesses.if one partner withdraws part of his salary. How to record it in appropriation account and Current account.??Accounts
Answer:
it can be to be and so
Explanation:
Question 9 Bond A is zero-coupon bond paying $100 one year from now. Bond B is a zero-coupon bond paying $100 two years from now. Bond C is a 10% coupon bond that pays $10 one year from now and $10 plus the $100 principal two years from now. The yield to maturity on bond A is 10%, and the price of bond B is $84.18. Assuming annual compounding, what is the price of Bond A?
The price of bond A is $90.91
The computation of the price of bond A is as follows:
= Paying amount × (1 + rate)^-1
= $100 × (1 + 0.10)^-1
= $100 × 1.1^-1
= $90.91
Therefore we can conclude that the price of bond A is $90.91
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Tell me about time when you made a mistake how did you find it and what did you do to correct it
Answer:
Briefly explain what the mistake was, but don't dwell on it.Quickly switch over to what you learned or how you improved, after making that mistake.You might also explain the steps you took to make sure that the mistake never happened again.The Treaty of Maastricht and the Treaty of Lisbon were indications of __________ within the European Union (EU).
a. a shift toward common external policies.
b. greater political union.
c. increased sovereignty for member countries.
d. a harmonized trade system.
e. less economic structure.
Answer:
Option B
Explanation:
In simple words, The Lisbon Treaty, often known as the Treaty of Lisbon, revised European Union laws by providing a more centralized administration as well as foreign relations, a suitable mechanism for nations wishing to exit the Community, and a simplified method for implementing new legislation.
Thus, from the above we can conclude that the correct option is B.
The Treaty of Maastricht and the Treaty of Lisbon were indications of within the European Union (EU) is :
B) Greater political union.
European UnionThe Treaty of Maastricht and the Treaty of Lisbon were indications of Greater political union within the European Union (EU) .
The Lisbon Treaty is changed European Union laws by giving a more centralized organization as well as remote relations, a appropriate instrument for countries wishing to exit the Community, and a disentangled strategy for actualizing unused legislation.
Thus, the correct option is B.
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