Garcia Corporation recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting

Answers

Answer 1

Answer:

i d k

Explanation:


Related Questions

Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $370 and has a unit contribution margin of $140; the Adult model sells for $920 and has a unit contribution margin of $485; and the Recreational model sells for $1,070 and has a unit contribution margin of $535. The company's sales mix includes: 5 Youth models; 9 Adult models; and 6 Recreational models. If the firm's annual fixed costs total $6,570,000, calculate the firm's break-even point in composite units (rounded to the nearest whole unit). Multiple Choice 16,550 composite units. 794 composite units. 1,430 composite units. 397 composite units. 8,275 composite units.

Answers

Answer:

794 composite units.

Explanation:

Calculation to determine the firm's break-even point in composite units

First step

Contribution Margin per Composite Unit:

Youth model $700

($140× sales mix of 5 )

Adult model model $4,365

($485× sales mix of 9)

Recreational model $3,210

( $535 × sales mix of 6 )

Contribution Margin per Composite Unit=8,275

($700+$4,365+$3,210)

Now let determine the Break-even Sales in Composite Units using this formula

Break-even Sales in Composite Units = Total Fixed Costs/Contribution Margin per Composite Unit

Let plug in the formula

Break-even Sales in Composite Units = $6,570,000/$8,275

Break-even Sales in Composite Units = $793.9

Break-even Sales in Composite Units = 794 composite units

Therefore the firm's break-even point in composite units is 794 composite units.

Danke Inc. is a diversified firm that creates more value than the cost that it incurs. As a result, they are experiencing a diversification premium in their stock price. Danke Inc. is able to accomplish all of the following except:a. provide economies of scale, which reduces Danke’s costs.
b. exploit economies of scope, which increases Danke’s value.
c. increase their costs but maintain their current stock price.
d. reduce Danke’s costs and increase value.

Answers

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

You want to have $5 million in real dollars in an account when you retire in 20 years.
The nominal return on your investment is 10 percent and the inflation rate is 3 percent.
What is the real amount you must deposit each year to achieve your goal?

Answers

Answer:

The real amount that you must deposit each year to achieve your goal is:

= $54,662.78.

Explanation:

a) Data and Calculations:

Required amount in real dollars = $5 million

Nominal return on investment = 10%

Inflation rate = 3%

Real return on investment = 13% (10 + 3)

From an online financial calculator:

N (# of periods)  20

I/Y (Interest per year)  13

PV (Present Value)  0

FV (Future Value)  5000000

Results

PMT = $54,662.78

Sum of all periodic payments $1,093,255.61

Total Interest $3,906,744.3

If there are external benefits associated with the consumption of a good or service, Group of answer choices the market demand curve will be the vertical summation of the individual demand curves. consumers are paying for all these benefits. the market demand curve will underestimate the social demand curve. the market demand curve will overestimate the true demand curve.

Answers

Answer: the market demand curve will underestimate the social demand curve.

Explanation:

The good or service in question, having an external benefit means that it benefits third parties as well as those who actually bought the good or service. This means that it has a higher social benefit than other goods.

The market demand curve would not cater for the demand for this good adequately because it would only adjust for the private benefits. The social demand curve on the other hand, would be adjusted for the external benefits to show that more people want this good or service.

The market demand would therefore underestimate the social demand curve because it would not adjust for the extra demand that comes with the external benefits.

Marc Adler is the owner of Macquarium , a multimillion- dollar communications company that does everything from video Productions to creating websites to public relations campaign has done this sort of work with bellsouth and snap-on tools Even though these companies could have prepared and created their website in house these tasks were;

Answers

Answer: outsourced

Explanation:

Outsourcing simply meabs the business practice whereby a company hires another party outside the company to perform a particular activity related to it's production for them which the company could have done itself and performed in-house.

Outsourcing is done in order to reduce cost or focus on other main areas in the company. Since Marc Adler gave the creation of its website to another party, this is known as outsourcing.

Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,400 Materials costs $ 14,500 Conversion costs $ 6,600 Percent complete with respect to materials 75 % Percent complete with respect to conversion 20 % Units started into production during the month 11,100 Units completed and transferred to the next department during the month 10,000 Materials costs added during the month $ 173,600 Conversion costs added during the month $ 243,600 Ending work in process inventory: Units in ending work in process inventory 3,500 Percent complete with respect to materials 90 % Percent complete with respect to conversion 30 % The cost per equivalent unit for materials for the month in the first processing department is closest to:

Answers

Answer:

Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

When many members of the project team disagree, then delaying the decision, gathering more data, or agreeing to let person make the decision may be in order

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Answer:

Leadership within a project team should be demonstrated only by the project manager. ... When many members of the project team disagree, then it may be best to delay the decision, gather more data, or agree to let one or two team members investigate and recommend a strategy for the whole team

Nieto Company’s budgeted sales and direct materials purchases are as follows.
Budgeted Sales Budgeted D.M. Purchases
January $250,600 $32,200
February 238,100 45,300
March 299,600 38,300
Nieto’s sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase.
A) Prepare a schedule of expected collections from customers for March
B) Prepare a schedule of expected payments for direct materials for March.

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Answer:

Nieto Company

A) Schedule of expected collections for March:

30% Cash Sales                     $89,880

Credit Sales                          $167,307

Total collections for March $257,187          

B) Schedule of expected payments for direct materials for March:

40% month of purchase     $15,320

60% ffg month                    $27,180

Total expected payments $42,500

Explanation:

a) Data and Calculations:

                                            January    February     March      Total

Budgeted sales                 $250,000  $238,100  $299,600

Cash collections:

30% Cash                            $75,000     $71,430     $89,880

70% Credit                         $175,000  $166,670   $209,720

Cash collections from credit sales:

Month of sale, 10%              $17,500    $16,667     $20,972

Following month, 50%                           87,500       83,335

Second month, 36%                                                 63,000

Total collections for March (credit sales)             $167,307

Budgeted D.M. Purchases $32,200   $45,300     $38,300

Cash payments:

40% purchase month         $12,880     $18,120      $15,320

60% ffg month                                      $19,320     $27,180

Total payments                  $12,880     $37,440    $42,500

Which of the following is an important consideration in setting up the proper environment to complete tasks on time?

Answers

In general, setting choosing the appropriate atmosphere to execute assignments in time is critical.

Following are the knowing step in which we define how to develop these priorities:

If you want to ensure sure activities are finished on schedule, it is the most crucial factor.This ability to manage one's time is essential for all types of leaders, especially leaders, managers, and coaches. These corporate leaders must have a sound plan, set clear goals, and also be effective.For something like that to happen, people should define goals, focus on the work at hand, create an environment favorable to the activities which need to be done, and eliminate distractions to develop the necessary habits that lead to production.

Learn more:

sociocultural environment: brainly.com/question/24244964

Management process with proper coordination & cooperation is important to set up  proper environment to complete tasks on time

Task completion on time (effectively) & in best optimum way (efficiently) is inherent goal of process of management.

These proper steps of management should be followed for it :

Planning - Analysing future prospectus Organising - Designing layout Staffing - Choosing personnel Directing - Guiding, motivating, supervising personnel Controlling - Comparing performance with goal at various milestones.

Coordination & cooperation imbibed in this process is likely ensure decided tasks completion, effectively & efficiently

An abundance of utility-focused blogs exist, posting negative information about utilities in general and even about ABC Utility. Which of the following is NOT a wise response to control the negative blogs?

a. Repost the negative blogs that appear in other places, and argue against the content.
b. Create a company sponsored blog and post blogs with useful information.
c. Monitor the blogs to gather information about public perception.
d. Ask the CEO to frequently write a blog post regarding the values and vision of the organization.

Answers

Answer:

a

Explanation:

Blogs are a good medium that can be used by firms to disseminate information about their goods and services.

Blogs are also a good way to gather information about the perception of consumers to a company's goods and services

A company can make use of blogs to disseminate positive information about their goods and services by creating a company sponsored blog and post blogs with useful information. It would be and advantage if key personals in the firm frequently write a blog post about the firm e.g.  the values and vision of the organization.

In a job order cost system, it would be correct in recording the purchase of raw materials to debit Finished Goods Inventory. Raw Materials Inventory. Work in Process Inventory. Work in Process and Manufacturing Overhead.

Answers

Answer:

In a job order cost system, it would be correct in recording the purchase of raw materials to debit

Raw Materials Inventory.

Explanation:

When materials are initially purchased, the cost is debited to the Raw materials inventory account and credited to either Cash or Accounts Payable, depending on the trade terms.  When the materials are assigned to work in process, it is debited to Work in Process Inventory and to Jobs and credited to Raw materials Inventory.  Finished Goods Inventory is only debited for completed jobs.  Manufacturing Overhead is debited for all indirect costs.

Materials cost per yard: standard, $1.90; actual, $2.04 Standard yards per unit: standard, 4.69 yards; actual, 5.03 yards Units of production: 9,400 Calculate the direct materials price variance. a.$1,316.00 unfavorable b.$6,619.48 unfavorable c.$6,619.48 favorable d.$6,172.04 favorable

Answers

Answer:

b.$6,619.48 unfavorable

Explanation:

Calculation to determine the direct materials price variance

First step is to calculate the Total number of actual quantity used

Total number of actual quantity used = 9400×5.03

Total number of actual quantity = 47,282

Now let determine the Material price variance

Using this formula

Material price variance = ( Standard price - Actual price ) × Actual quantity used

Let plug in the morning

Material price variance= ( $1.90 - $2.04 ) × 47,282

Material price variance=-0.14×47,282

Material price variance = -$6,619.48 unfavorable

Therefore the direct materials price variance is

-$6,619.48 unfavorable

A researcher is asked to determine whether or not a productivity objective (in dollars) of better than $75,000 per employee is possible. A productivity test is done involving 20 employees. What conclusion would you reach

Answers

Answer:

Hence the null hypothesis is not rejected.

We conclude that productivity objective (in dollars) is not better than $75,000 per employee.

Explanation:

Single sample t-test ( upper tail test)

[tex]H_0: \mu = 75000\\H_1: \mu > 75000[/tex]

N=20

Mean =75500

Sd=18968.117

[tex]t = \frac { (\bar x - \mu)} {\frac {s} {\sqrt{n}}}\\\\t = \frac{(75500-75000)}{\frac{18968.117}{\sqrt{20}}}\\t=0.1179[/tex]

DF= 20-1=19

Table value of t at 0.05 level of significance =1.7291

Calculated t=0.1179 < table value 1.7291

The null hypothesis is not rejected

We conclude that productivity objective (in dollars) is not better than $75,000 per employee

You just sold 900 shares of Alcove stock at a price of $34.08 a share. Last year you paid $39.20 a share to buy this stock. You received dividends totaling $1.04 per share. What is your total capital gain on this investment?a. $5,544 44b. -$3,672c. -$5,544d. -$4,608e. $4,608

Answers

Answer:

d. -$4,608

Explanation:

The computation of the total capital gain is shown below:

Total capital gains is

= (End value - Beginning value) × 900 shares

= ($34.08 - $39.20) × 900 shares

= -$4,608

Hence, the  total capital gain on this investment is -$4,608

Therefore the option d is correct

And, the same is to be relevant

importance of settlement​

Answers

Answer:

The function of a settlement helps to identify the economic and social development of a place and can show its main activity. Most large settlements have more than one function though in the past one function was maybe the most important in defining the success and growth in importance of the settlement.

The function of a settlement helps to identify the economic and social development of a place and can show its main activity. Most large settlements have more than one function though in the past one function was maybe the most important in defining the success and growth in importance of the settlement.

Explanation:

The main functions of a settlement are:

Market town – where farmers will buy and sell their goods and materials

Mining town – where minerals and fuel might be extracted

Industrial town – where raw materials will be processed into manufactured products

Port – a place where goods can be imported and exported

Route centre – a place where several important roads/ transport links will meet

Service centre – a place that will provide for the main needs and services for people living in a particular area

Cultural/ Religious centre – a place that will welcome people from different places for learning or religious observance

Administrative centre – where government offices and departments will be located

Residential town – a place where people will live but will travel to work somewhere else

Tourist resort – where people visit to relax and enjoy themselves

Ted, a used car dealer, entered into a written agreement to sell a car to Debra, a sixteen year old high school junior. The agreement provided that Ted would replace any defective parts for one year. Debra agreed to pay Ted $200 per month for three years (which she has done). The age of majority for the jurisdiction is eighteen. After six months, Debra's transmission fails but Ted refuses to replace it. If Debra (or a representative on her behalf) brings a lawsuit against Ted, it is more likely than not that the court will rule:_____.
A. Ted will prevail because Debra was a minor when the contract was formed.
B. The contract is illegal.
C. The contract is void.
D. Debra will prevail, as Ted is bound to the contract.

Answers

Answer:

D. Debra will prevail, as Ted is bound to the contract.

Explanation:

A minor can enter a contract that is not prohibited by law for minors. For example sale of alcohol or tobacco is prohibited.

When a minor enters a contract they can either honor it or void it before they come of age.

This is different for adults that cannot disaffirm a contract.

So in this scenario where the agreement provided that Ted would replace any defective parts for one year, failure to do so will see Debra prevailing in court. Since she did not void the contract

Which of the following is an example of a functional structure? Multiple Choice Fred owns a diner and has three employees. Borrowit Lending has a business division and a consumer division. Shelter Semiconductors has offices in Berlin, Tokyo, Chicago, and London. Leopard Industries has a plastics group, an electronics group, and a transportation group. At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.

Answers

Answer: At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.

Explanation:

Functional structures refer to the grouping of company departments based on what the labor involved do for the company i.e. their functional expertise.

Mark's company is therefore using a functional structure because it groups its workforce by their functional expertise with carpenters in one group and upholsters in another.

Most companies follow this strategy which is why companies have departments such as accounting, human resources, marketing and production.

g One of the main differences between an oligopolistic firm and a monopolistically competitive firm is that a monopolistically competitive firm Group of answer choices Faces a horizontal demand curve; an oligopoly does not Is relatively independent; an oligopoly is interdependent Has high barriers to entry; an oligopoly does not Has no market power; an oligopoly has some market power

Answers

Answer:

Is relatively independent; an oligopoly is interdependent.

Explanation:

An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.

Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.

The characteristics of an oligopolistic market structure are;

I. Mutual interdependence between the firms.

II. Market control by many small firms.

III. Difficult entry to new firms.

One of the main differences between an oligopolistic firm and a monopolistically competitive firm is that a monopolistically competitive firm is relatively independent; an oligopoly is interdependent.

Ông Nguyễn Văn Thịnh, hiện là hiệu trưởng Trường THPT Nguyễn Gia Thiều, TP Hồ Chí Minh. Ông Thịnh có số tiền 500 triệu đồng, ông Thịnh đem đi đầu tư vào công ty cổ phần Thịnh Long Phát. Với phần vốn góp này ông Thịnh được bầu vào HĐQT và giữ chức Chủ tịch HĐQT. Theo anh chị: Ông Thịnh có được đầu tư vào công ty Thịnh Long Phát không. Vì sao? Việc giữ chức danh Chủ tịch HĐQT của công ty là đúng hay sai. Vì sao?

Answers

Answer:

ifuhfflkfoifknweknffdsuncjdcnsdncsdncjunasjcnajsncjasn

Explanation:

anchijdcnhcnUIcfuidshcnld cdusiahnc

Alan tells Sherry that he will pay her $5,000 if she runs the Boston Marathon. Once Sherry starts running the marathon, Alan, legally, ________. Group of answer choices can revoke the contract as informal verbal agreements are not binding. can reduce the amount of money offered from $5,000 to $4,500, but only if Sherry doesn't place in the Boston Marathon. cannot revoke the contract. can sue for equitable damages only.

Answers

Answer:

can revoke the contract as informal verbal agreements are not binding

Explanation:

Since in the question it is mentioned that sherry would pay her $5,000 in the case when she runs marathon now once she starts running so here alan can revoke the contract legally as there is only verbal agreements not the written agreement also they are not binding to each other

So as per the given situation, the above statement should be considered

Your sister is thinking about starting a new business. The company would require $300,000 of assets, and it would be financed entirely with common stock. She will go forward only if she thinks the firm can provide a 13.5% return on the invested capital, which means that the firm must have an ROE of 13.5%. How much net income must be expected to warrant starting the business

Answers

Answer: $40,500

Explanation:

The company would be expected to make a net income of 13.5% of the amount invested in assets.

ROE = Net income / Equity

Net income = ROE * Equity

Assets are the same as equity in this scenario because the company is entirely funded by equity.

= 13.5% * 300,000

= $40,500

Super Computer Company's stock is selling for $100 per share today. It is expected that, at the end of one year, it will pay a dividend of $6 per share and then be sold for $114 per share. Calculate the expected rate of return for the shareholders. A) 20% B) 15% C) 10% D) 25%

Answers

Answer: A. 20%

Explanation:

The expected return takes into account whatever dividends and capital gains accrue to a stock over the period.

Expected return = (Price at end of period + Dividends - Price at beginning of period) / Price at beginning of period

= (114 + 6 - 100) / 100

= 20/100

= 20%

If you were originally a lender, remain a lender even after a decline in interest rates. Will you get better or worse after the interest rate change? Analyze consumer behavior in the above situation.

Answers

Answer:

If the lender rate decline he will be worst of due to consumer buying behavior.

Explanation:

Lenders are creditors and not all creditors are leanders. During a decline in the interest rates goes down and borrowing gets cheaper. The leander will be worse after the interest rates decline. If the interest rate rises or changes the lender may get higher rates.

The U.S. government could reduce its budget deficit by expanding the income assistance programs. raising the eligible retirement age to receive Social Security benefits. increasing discretionary spending. borrowing funds from abroad.

Answers

Answer:

raising the eligible retirement age to receive Social

Explanation:

We can agree that there is a budget deficit in an economy if the government expenditures in the economy are greater than its revenue. The remedy in the face of such an economic problem is either to raise taxes or to decrease the expenditures of the government.

In this question, the way that the US government can reduce the budget deficit is by raising the eligible retirement age of those who are to receive the social security benefits. When this age is increased, it means that less people would be receiving this benefit. Less people would meet the required age for the benefit. By so doing, the government is cutting its expenditures.

the rest of the options in the question would increase the deficit.

Davis Supply maintains an average inventory of 2,000 dinosaur skulls for sale to filmmakers. The carrying cost per skull per year is estimated to be $150.00 and the fixed order cost is $37. What is the economic order quantity (EOQ)

Answers

Answer: 31

Explanation:

Based on the information given, the economic order quantity will be:

Annual requirement = 2000

Buying cost per order = 37

Carrying cost = 150

Economic order quantity will be:

= ✓(2 × 2000 × 37/150)

= ✓986.7

= 31.4

= 31

Therefore, economic order quantity is 31 units

If a nail salon hires an additional worker, that worker can service 8 additional customers per day. The average nail service fee is $30. The most the salon would be willing to pay that groomer is

Answers

Answer:

Therefore, the salon will pay = $240

Explanation:

Below is the given values:

Service additional worker per day = 8 customers per day

Average fee = $30

The firm would like to pay the groomer up to the amount that is generated by them so the amount generated 30 x 8 = $240

Therefore, the salon will pay = $240

The number of people employed in one country is 230 million, with a total number of unemployed people at 40 million. The total population for the country is 500 million. What is the unemployment rate? Group of answer choices

Answers

Answer:

Unemployment rate = 14.81 %

Explanation:

Unemployment is defined as the number of people that are willing and able to work in an economy but that are not able to get employment.

If is used as a measure of the level of economic growth of a country.

Mathematically:

Unemployment rate = (Unemployed) ÷ (Economically active people) *100

Economically active people are employed plus unemployed.

That is 230 million + 40 million = 270 million

Therefore

Unemployment rate = (40/270) * 100

Unemployment rate = 14.81 %

MC Qu. 131 At Midland Company's break-even point... At Midland Company's break-even point of 9,000 units, fixed costs are $180,000 and variable costs are $540,000 in total. The unit sales price is:

Answers

Answer:

selling price per unit = $80

Explanation:

Giving the following information:

Company's break-even point of 9,000 units

Fixed costs are $180,000

Total variable costs= $540,000

First, we will calculate the unitary variable cost:

Unitary variable cost= 540,000 / 9,000

Unitary variable cost= $60

Now, the unitary selling price, using the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

9,000 = 180,000 / (selling price per unit - 60)

9,000selling price per unit - 540,000 = 180,000

9,000selling price per unit = 180,000 + 540,000

9,000selling price per unit = 720,000

selling price per unit = 720,000/9,000

selling price per unit = $80

Answer:

$80

Explanation:

The first step is to find the variable cost

= 540,000/9000

= 60

Therefore the unit sales price can be calculated as follows

= 180,000/90,000+60

= 20+60

= $80

Hence the unit sales price is $80

causes of wage rigidity​

Answers

Answer:

According to the Efficiency-wage theories: High wages paid to the workers' make them more productive, therefore, the firms are reluctant or fail to decrease wages despite of an excess supply of labour.

1. Define equilibrium.​

Answers

Answer:

In chemistry:

Chemical equilibrium is defined as the condition in the course of a reversible chemical reaction in which no net change in the amounts of reactants and products occurs

In physics:

Equilibrium is defined as the condition of a system when neither its state of motion nor its internal energy state tends to change with time.

A simple mechanical body is said to be in equilibrium if it experiences neither linear acceleration nor angular acceleration; unless it is disturbed by an outside force, it will continue in that condition indefinitely.

EquilibriumExplanation :-

the condition of a system when neither its state of motion nor its internal energy state tends to change with time is called equilibrium.

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