Medication is the most common treatment for seizure disorders.

A company had net sales of $30,200 and ending accounts receivable of $4,000 for the current period. Its days' sales uncollected equals:_________ (Use 365 days a year.)a) 7.55 days.b) 59.54 days.c) 63.64 days.d) 48.34 days.e) 40.34 days.

Alexandria's Dance Studio is currently an all-equity firm with earnings before interest and taxes of $338,000 and a cost of equity of 14.2%. The tax rate is 34%. Alexandria is considering adding $400,000 of debt with a coupon rate of 7% to her capital structure. The debt will be sold at par value. What is the levered value of the equity?

Griffin Co. is considering the investment of $136,000 in a new machine. The machine will generate cash flow of $22,500 per year for each year of its eight-year life and will have a salvage value of $8,000 at the end of its life. Griffin Co.'s cost of capital is 8 percent.(a) Calculate the net present value of the proposed investment. Ignore income taxes, and round all answers to the nearest $1. (b) What will the internal rate of return on this investment be relative to the cost of capital?

Relationship between democracy and free market economy?

Gray, Stone, and Lawson open an accounting practice on January 1, 2016, in San Diego, California, to be operated as a partnership. Gray and Stone will serve as the senior partners because of their years of experience. To establish the business, Gray, Stone, and Lawson contribute cash and other properties valued at $410,000, $340,000, and $170,000, respectively. An articles of partnership agreement is drawn up. It has the following stipulations:
Personal drawings are allowed annually up to an amount equal to 10 percent of the beginning capital balance for the year.
Profits and losses are allocated according to the following plan:
1. A salary allowance is credited to each partner in an amount equal to $8 per billable hour worked by that individual during the year.
2. Interest is credited to the partners’ capital accounts at the rate of 12 percent of the average monthly balance for the year (computed without regard for current income or drawings).
3. An annual bonus is to be credited to Gray and Stone. Each bonus is to be 10 percent of net income after subtracting the bonus, the salary allowance, and the interest. Also included in the agreement is the provision that there will be no bonus if there is a net loss or if salary and interest result in a negative remainder of net income to be distributed.
4. Any remaining partnership profit or loss is to be divided evenly among all partners.
Because of financial shortfalls encountered in getting the business started, Gray invests an additional $9,200 on May 1, 2016. On January 1, 2017, the partners allow Monet to buy into the partnership. Monet contributes cash directly to the business in an amount equal to a 20 percent interest in the book value of the partnership property subsequent to this contribution. The partnership agreement as to splitting profits and losses is not altered upon Monet’s entrance into the firm; the general provisions continue to be applicable. The billable hours for the partners during the first three years of operation follow:
2016 2017 2018
Gray 2,020 4,200 2,130
Stone 1,680 2,300 1,860
Lawson 3,700 1,620 1,550
Monet 0 1,430 1,820
The partnership reports net income for 2016 through 2018 as follows:
2016 $98,000
2017 (44,400)
2018 236,000
Each partner withdraws the maximum allowable amount each year.
A. Determine the allocation of income for each of these three years.
B. Prepare in appropriate form a statement of partners’ capital for the year ending December 31, 2018.

One of the objectives of accounting is to help investors and creditors assess the amount, timing, and uncertainty of cash flows to them.
a. cannot say if it is true or false given the limited information provided
b. this is always a false statement
c. although false for most of the times, there are several exceptions detailed in Canadian GAAP
d. this is always a true statement
e. although true for most of the times, there are several exceptions detailed in Canadian GAAP

Categorize each scenario as describing a movement along a demand curve or a shift of the demand curve.

a. College students rush and buy discount furniture to take advantage of a one-day sale
b. Students eat out more often as the federal government increase how much grant money it provides
c. College students reduce how detergent they for each of laundry response to higher detergent prices.
d. College students purchase many more energy drinks during finals week than during the rest of the semester.

You own a bond that has a duration of 7 years. Interest rates are currently 8%, but you believe the Fed is about to increase interest rates by 28 basis points. Your predicted price change on this bond is ________.
a. +1.81%
b. +6.48%
c. −6.48%
d. −1.81%

Mertis, Inc. reported Net fixed assets as follows on its Balance sheets for December 31, 2011, and December 31, 2012 look as follows:
2011 2012
Net fixed assets 815,000 865,000
On its 2012 Income statement, Mertis recorded a depreciation expense of $34,971. What amount of cash did Mertis spend in 2012 on new fixed assets? (Record your answer without a dollar sign and without commas, for example, a record $32,400 as 32400).

Your grandparents put $10,200 into an account so that you would have spending money in college. You put the money into an account that will earn an APR of 4.19 percent compounded monthly. If you expect that you will be in college for 4 years, how much can you withdraw each month?

The fact that we can derive the British pound​/Israeli shekel exchange​ rate, say, from the ​dollar/pound rate and the ​dollar/shekel rate follows from ruling out a potentially profitable arbitrage strategy known as triangular arbitrage. As an example, suppose that the British pound price of a zloty was below the British pound price of a dollar times the dollar price of a zloty, as depicted by the hypothetical data in the following table.

Exchange rate Value
British pound price of a zloty 4.0
British pound Vice of a dollar 1.60
U.S. dollar price of a zloty 5.00

Using $100 to purchase the Polish currency directly would obtain ___________ zlotys.

New lithographic equipment, acquired at a cost of $800,000 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value of $90,000. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method was selected. In the first week of the fifth year, the equipment was sold for $135,000. Required: 1. Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end of each year by (a) the straight-line method and (b) the double declining- balance method. 2. On January 1, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles. 3. On January 1, journalize the entry to record the sale, assuming that the equipment was sold for $88,750 instead of $135,000. Refer to the Chart of Accounts for exact wording of account titles.

Define and explain SMART?

Assume you are Andy Pforzheimer, owner of Barcelona Restaurants, and you are involved in intense conflict with one of your restaurant managers. You realize that the conflict has escalated to the point at which it is no longer functional conflict and you wish to de-escalate it. Which of the following actions should you avoid to help de-escalate the conflict?

a. Stay focused on issues, not emotions
b. Communicate hostility verbally or through body language
c. Reject all requests from the Start
d. Raise your voice to get attention about important points

A company enters a futures contract to sell 50,000 units of a commodity for 70 cents per unit. The initial margin is $4,000 and the maintenance margin is $3,000. What change in the futures price (per unit) would lead to a margin call?

Assume that Division Blue has achieved a yearly income from operations of $166,000 using $976,000 of invested assets. If management has set a minimum acceptable return of 8%, the residual income is a.$166,000 b.$105,504 c.$70,336 d.$87,920

A company needs 550,000 items per year. It costs the company $330 to prepare a production run of these items and $5 to produce each item. If it also costs the company $0.75 per year for each item stored, find the number of items that should be produced in each run so that total costs of production and storage are minimized. items/run

1 Cash on hand at the company and not yet deposited at the bank. 4,800
2 EFT for monthly utility bill not yet recorded by the company. 1,600
3 Note collected by the bank and not yet recorded by the company. 10,200
4 Interest collected by the bank from note in #3 not yet recorded by the company. 1,300
5 A check witten for insurance expense for $90 was cashed. The check was recorded on the books for $160. ?
6 Checks written by the company but not yet processed by the bank. 2,600
7 Service fee charged by bank but not yet recorded by the company. 100
8 Customer checks determined by the bank to have nonsufficient funds. 3,000
Bank balance at the end of the period. 16,990
Company balance at the end of the period. 12,320
Required:
1-a. What is the revised Cash balance at the end of the period?
1-b. Is the bank reconciliation in balance?
Yes
No
2-a. What is the balance in Cash if the entry to correct the insurance payment hasn't been made?
2-b. Would the bank reconciliation still be in balance?
Yes
No
3. Which statement below is true regarding the effect of the company incorrectly recording a customer deposit at $180,000 rather than $18,000?
No effect on the bank reconciliation.
The difference of $162,000 will be subtracted from the book balance.
The difference of $162,000 will be added to the book balance.
The bank balance will be increased by $180,000.

Western Electric has 34,000 shares of common stock outstanding at a price per share of $83 and a rate of return of 12.80 percent. The firm has 7,500 shares of 8.20 percent preferred stock outstanding at a price of $97.00 per share. The preferred stock has a par value of $100. The outstanding debt has a total face value of $416,000 and currently sells for 113 percent of face. The yield to maturity on the debt is 8.20 percent. What is the firm's weighted average cost of capital if the tax rate is 40 percent

Maxwell Washington's weekly gross earnings for the week ending March 9 were $2,620, and her federal income tax withholding was $550.20. Assuming the social security tax rate is 6% and Medicare tax is 1.5% of all earnings, what is Washington's net pay?

Complete accounting cycle and financial statements
The city council of E. Staatsboro approved the following budget for the General Fund for fiscal year 2019.
Estimated Revenues
Property taxes $335,000
License fees 40,000
Fines and penalties 15,000
Total revenues $390,000
Appropriations
Salaries $350,000
Supplies and utilities 30,000
Debt service 3,000
Total appropriations 383,000
Budgeted Increase in Fund Balance $7,000
The postclosing trial balance for the fund, as of December 31, 2018, was as follows:
Debits Credits
Cash $15,000
Vouchers payable $8,000
Fund balance (unassigned) 7,000
$15,000 $15,000
The following transactions and events occurred during FY 2019.
1. Levied property taxes of $335,000 and mailed tax bills to property owners.
2. Borrowed $300,000 on tax anticipation notes at an interest rate of 1 percent per annum.
3. Ordered supplies expected to cost $18,000.
4. The supplies arrived, along with an invoice for $19,000; the city paid the invoice immediately.
5. Received cash ($383,000) from the following sources: property taxes ($330,000), licenses and fees ($38,000), fines and penalties ($15,000).
6. Paid cash for the following purposes: unpaid vouchers at the start of year ($8,000); salaries ($340,000); utility bills ($11,000).
7. Repaid the tax anticipation notes 6 months after date of borrowing, with interest.
8. Processed a budgetary interchange, increasing the appropriation for supplies and utilities by $2,000 and reducing the appropriation for salaries by the same amount.
9. Will pay salaries for the last few days in December, amounting to $2,000, at the end of the first pay period in January 2020; also, received in early January 2020 a utilities invoice for $1,000 applicable to December 2019.
Use the preceding information to do the following:
a. Prepare journal entries to record the budget and the listed transactions and events.
b. Prepare a preclosing trial balance.
c. Prepare a balance sheet; a statement of revenues, expenditures, and changes in fund balance; and a budgetary comparison schedule.

Holling Inc. uses the weighted-average method in its process costing. The following data concern the company’s Mixing Department for the month of December. Materials Conversion Work in process, December 1 $ 8,130 $ 9,128 Cost added to production in the Mixing Department during December $ 226,500 $ 284,232 Equivalent units of production for December 9,900 9,400 Required: Compute the cost per equivalent unit for materials and conversion for the Mixing Department in December. (Round your answers to 2 decimal places.)

Mr. Hopper expects to retire in 30 years, and he wishes to accumulate $1,000,000 in his retirement fund by that time. If the interest rate is 12% per year, how much should Mr. Hopper put into his retirement fund at the end of each year in order to achieve this goal

Why do you think demand analysis is essential for businesses?

The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.

Economy Real Income per Person in 1960 (Dollars) Real Income per Person in 2010 (Dollars) Annual Growth Rate (Percent)
Austria 9,773 35,031 2.59
Venezuela 7,307 9,762 0.58
Botswana 468 9,515 6.21
Malaysia 4,624 11,863 4.06
Honduras 1,932 3,146 0.98
Zambia 1,412 1,309 -0.15

Indicate which economy satisfies each of the following statements.

a. This economy experiences the fastest rate of growth in real income per person from 1960 to 2010.
b. This economy had the highest level of real income per person in the year 2010.

A bond with a face value of $1,000 has 10 years until maturity, carries a coupon rate of 7.3%, and sells for $1,170. Interest is paid annually.a. If the bond has a yield to maturity of 10.7% 1 year from now, what will its price be at that time? (Do not round intermediate calculations. Round your anser to nearest whole number.)b. What will be the annual rate of return on the bond? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Negative amount should be indicated by a minus sign.)c. Now assume that interest is paid semiannually. What will be the annual rate of return on the bond?Slightly greater than your part b answerSlightly less than your part b answerd. If the inflation rate during the year is 3%, what is the annual real rate of return on the bond? (Assume annual interest payments.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Negative amount should be indicated by a minus sign.)

Suppose a commercial banking system has $40,000 of outstanding checkable deposits and actual reserves of $4,500. If the reserve ratio is 10 percent, the banking system can expand the supply of money by the maximum amount of

Interest income has been recorded during the year as interest payments have been received by Parnell. The Oracle bonds are currently valued on the financial market at $205 million.

Required:
Prepare the appropriate adjusting entry, if one is necessary.

Mickley Company’s plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $15.00 per hour. The following information pertains to Job A-500: Direct materials $ 280 Direct labor $ 150 Required: 1. What is the total manufacturing cost assigned to Job A-500? 2. If Job A-500 consists of 70 units, what is the unit product cost for this job? (Round your answer to 2 decimal places.)

Minor Electric has received a special one-time order for 1,500 light fixtures (units) at $5 per unit. Minor currently produces and sells 7,500 units at $6.00 each. This level represents 75% of its capacity. Production costs for these units are $4.50 per unit, which includes $3.00 variable cost and $1.50 fixed cost. To produce the special order, a new machine needs to be purchased at a cost of $1,000 with a zero salvage value. Management expects no other changes in costs as a result of the additional production. Should the company accept the special order?
A. No, because additional production would exceed capacity.
B. No, because incremental costs exceed incremental revenue.
C. No because incrementa conse o Yes, because incremental revenue exceeds incremental costs.
D. Yes, because incremental costs exceed incremental revenues.
E. No, because the incremental revenue is too low.