Answer:
The DEF Partnership
Allocation of Partnership Net Income for 2008:
D E F Total
Net income $130,000
Salaries $25,000 $20,000 $15,000 (60,000)
Bonus on net income 13,000 ----- ----- (13,000)
Remainder 34,200 17,100 5,700 (57,000)
Total allocation $72,200 $37,100 $20,700 $130,000
Explanation:
a) Data and Calculations:
Net income for the year ended December 31, 2008 = $130,000
Order of distribution of partnership profits and losses:
D E F
Salaries $25,000 $20,000 $15,000
Bonus on net income 10% ----- -----
Remainder 60% 30% 10%
Bonus on net income = $13,000 ($130,000 * 10%)
Remainder after salaries and bonus = $57,000 ($130,000 - $73,000)
D = $34,200 ($57,000 * 60%)
E = $17,100 ($57,000 * 30%)
F = $5,700 ($57,000 * 10%)
What percentage of authorized shares was issued by Coca-Cola at December 31, 2015, and by PepsiCo at December 26, 2015
Answer:
December 26
Explanation:
Because Pepsi Co is buy
Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000 after deducting variable costs of $72,000 and fixed costs of $10,000. Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be
Answer:
Fixed Cost = $10,000
Variable Costs = $90,000
Explanation:
Variable Cost per unit = $72,000 ÷ 12,000
= $6
Variable Costs at 15,000 units = $6 x 15,000
= $90,000
Fixed Cost (given) = $10,000
A bond that pays interest semiannually has a price of $941.35 and a semiannual coupon payment of $26.00. If the par value is $1,000, what is the current yield
Answer:
5.52%
Explanation:
Calculation to determine the current yield
Current yield = ($26.00 × 2)/$941.35
Current yield=$52/$941.35
Current yield= .0552*100
Current yield= 5.52%
Therefore the Current yield is 5.52%
At the beginning of May, Golden Gopher Company reports a balance in Supplies of $390. On May 15, Golden Gopher purchases an additional $2,200 of supplies for cash. By the end of May, only $190 of supplies remains. Required: 1.
Answer:
Missing word "rief Exercise 3-6 Parts 1 and 2 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required n the first account field.) view transaction list view general journal Journal Entry Worksheet Record the purchase of supplies. General Journal Debit Credit Date 2,600 May 15 Supplies expense Enter debits before credits clear entry record entry 7. 062 points Brief Exercise 3-6 Part 3 3. Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense. Ending Balance Supplies Supplies expense"
1&2 Date General Journal Debit Credit
May 15 Supplies $2,200
Cash $2,200
May 31 Supplies expense $2,400
($390 + $2,200 - $190)
Supplies $2,400
3). Particulars Ending Balance
Supplies $190
Supplies expense $2,400
With so many workers habituated to using mobile devices for so much of their work, should company management develop apps for influencing subordinates? Explain your reasoning.
Answer:
This is not a yes or no answer.
The action of leadership/management would depend on their assessment of the impact of the habit on the results being delivered by the workers.
The questions to ask are:
Does the use of the mobile phone for their work reduce or increase productivity?Does what are the advantages? are there disadvantages?What would developing an app achieve for management?Explanation:
In trying to influence workers who are already habituated or accustomed to a particular way of doing things, it is best practice to study the culture and establish what its advantages are. This can then be compared to its demerits. If the demerits clearly and consistently present risks that make of no relevance the advantages, the leader(s) must move to correct such a risk.
So assuming that using mobile phones makes ICT risks (such as loss of company data, loss of company data, risk of unauthorised access etc) even more pronounced, whether or not the app is the best solution will depend on the total cost of that solution to the company weighed against other options.
Other options could simply be
- looking for an already existing app
- banning the using of mobile phone for office work using etc
- re-establishing the use of laptops as the preferred work tool
In any of the above scenarios, the leadership will succeed in influencing its workers positively if it:
plays its part well as a cultural shift role modelbecomes an arbiter of the policies modifying changes affecting work styleencourages the new workstyle by rewarding those that embrace it openly manage change by ensuring that there is a training platform that helps ease the transition into the new work style.Cheers
lannigan Company manufactures and sells a single product that sells for $450 per unit; variable costs are $270. Annual fixed costs are $800,000. Current sales volume is $4,200,000. Compute the current margin of safety in dollars for Flannigan Company
Answer:
$2,200,000
Explanation:
Margin of safety means by how much sales can fall before a firm starts making a loss.
Margin of safety = Current Sales - Break even sales
where,
Break even sales = Fixed Cost ÷ Contribution margin ratio
= $800,000 ÷ 0.40
= $2,000,000
therefore,
Margin of safety = $4,200,000 - $2,000,000
= $2,200,000
The question, "What are the distinguishing characteristics of effective leaders?" sparked which approach to the study of leadership?
Answer:
behavioral approach to the study of leadership
Explanation:
In simple words, The behavioral approach is only concerned with what managers do and what they behave. The behavioral approach broadened the science of leadership to encompass the activities of leaders toward followers in diverse settings by moving the study of leadership to leader behaviors. Monitoring and analyzing a leader's movements and behaviors in response to a given circumstance is central to behavioral leadership theory.
The question, "What are the distinguishing characteristics of effective leaders?" sparked the:
Behavioral approach to the study of leadership
According to the given question, we can see that a question was asked which wants to mirror on the unique features of an effective leader and asked us to show the type of approach which was sparked as a result of this question.
As a result of this, we can see that the type of approach which was sparked as a result of the question about the distinguishing characteristics of effective leaders is behavioral approach.
This is because, this type of approach focuses on leaders and how their activities impacts the followers.
Read more here:
https://brainly.com/question/18229926
You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers you a free ticket to a Post Malone concert that you think is worth $80. What is the opportunity cost to you of going to the Drake concert instead of the Post Malone concert?a) $155b) $20c) $5d) $75e) $80
Answer: $80
Explanation:
The opportunity cost is regarded as the real cost of the alternative that was left or forgone.
Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.
Therefore, the correct option is E.
Skyline Florists uses an activity-based costing system to compute the cost of making floral bouquets and delivering the bouquets to its commercial customers. Company personnel who earn $180,000 typically perform both tasks; other firm-wide overhead is expected to total $70,000. These costs are allocated as follows:
Bouquet Production Delivery Other
Wages and salaries 60% 30% 10%
Other overhead 50% 35% 15%
Riverside anticipates making 20,000 bouquets and 4,000 deliveries in the upcoming year. The cost of wages and salaries and other overhead that would be charged to each bouquet made is closest to:
a. $12.50.
b. $7.15.
c. some other amount.
d. $8.75.
e. $13.75.
Answer:
b. $7.15
Explanation:
Cost of wages & salaries per bouquet = [($180,000*60%) + ($70,000*50%)] / 20,000
Cost of wages & salaries per bouquet = ($108,000 + $35,000) / 20,000
Cost of wages & salaries per bouquet = $143,000 / 20,000
Cost of wages & salaries per bouquet = $7.15
So, the cost of wages and salaries and other overhead that would be charged to each bouquet made will be $7.15.
Assume that the current price of a stock is $100. A call option on that stock with an exercise price of $97 costs $7. A call option on the stock with the same expiration and an exercise price of $103 costs $3. Using these options what is the expiration profit of a bear call spread if the stock price is equal to $110
Answer:
-2
Explanation:
Bob agreed to tutor Lola in Spanish for two (2) hours and Lola agreed to pay $25.00 per hour for the tutoring services. Bob tutored Lola and she paid Bob $50.00. This means that the parties have been _____.
Answer: discharged by performance
Explanation:
When parties to a contract are discharged from their duties as per the contract, it means that they are no longer party to the agreement. When this is done by performance, it means that the discharge was done because both parties have fulfilled the demands of the contract.
Bob agreed to tutor Lola for two hours and Lola agreed to pay Bob $50 for that. Bob then tutored her for the two hours and was paid the amount. The parties have therefore fulfilled their obligations to each other and so the contract has been satisfied.
If a company can implement cash management systems and save three days by reducing remittance time and one day by increasing disbursement time based on $2,000,000 in average daily remittances and $2,500,000 in average daily disbursements and its return on freed-up funds is 10%, what is the maximum that it should spend on the system
Answer: $850,000
Explanation:
The maximum amount that'll be spent on the system goes thus:
Additional collections will be:
= $2,000,000 × 3 days
= $6,000,000
Delayed disbursements will be,:
= $2,500,000 × 1 day
= $2,500,000
Then, the increment on funds will be:
= Additional collection + Delayed disbursement
= $6,000,000 + $2,500,000
= $8,500,000
Hence, maximum amount will be:
= 10% × $8,500,000
= $850,000
On November 1st, Neiman Marcus at the Florida Mall signed a $100,000, 2%, eight-month note payable with all of the principal and interest due at maturity eight months later on July 1. Neiman Marcus' Store at Florida Mall should report interest payable at (year-end) December 31, in the amount of:
Jayco has the following expected cash flows from a project. Calculate the payback period of the project. Year 0 (685,000) Year 1 255,000 Year 2 355,000 Year 3 455,000 Year 4 555,000
Answer:
2.16 years
Explanation:
When a market is in equilibrium, the: multiple choice 1 quantity demanded equals the price. quantity demanded equals the quantity supplied at the market price. quantity demanded equals the quantity supplied and they both equal the price. quantity supplied equals the price. The market for cell phones reaches equilibrium because cell phone sellers have an incentive: multiple choice 2 to decrease quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to rise and some cell phone consumers will not buy at higher prices, driving the price to equilibrium. to increase quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to fall and some cell phone consumers only buy at higher prices, driving the price to equilibrium.
ANSWER:
2 Batteries
Explanation:
You are analyzing ABC Company, a computer manufacturer. You notice that inventory turnover this year is significantly lower than in prior years. You also notice that accounts receivable turnover is significantly lower this year when compared to previous years. Provide three explanations that would be consistent with your observation for inventory turnover and include an explanation of whether these would be of concern to you, as well as what the effect might be on the next period's financial results. In addition, provide three explanations that would be consistent with your observation of the accounts receivable turnover, and explain whether these would be of concern to you.
Answer:
ABC Company
1. Observation: Current year's inventory turnover is significantly lower than those of previous years.
Explanations:
1. Lower inventory turnover implies weaker sales for the current period than those of previous years.
2. Lower inventory turnover results from excessive inventory, which increases storage costs and interest expenses.
3. The ratio may also indicate that the demand for the product is declining rapidly. Many reasons can be adduced for this situation. Little marketing efforts, bad product, and lack of product competitiveness.
a) The formula for computing the inventory turnover equals Cost of goods sold/Average Inventory. The ratio shows the number of times goods are sold in a period. When goods are sold more frequently, sales activities increase, including revenue and profit.
2. Observation: Also current year's accounts receivable turnover is significantly lower than in previous years.
Explanations:
1. Billing inefficiency can contribute to lower accounts receivable turnover.
2. Poor credit policy may give rise to inefficient collection process, excessive bad debts, long credit days, bad customers, and lack of incentives to customers to settle their invoices.
3. Lastly, lower accounts receivable turnover may point to declining demand of the product by customers.
b) The formula for calculating the accounts receivable turnover is Net Credit Sales divided by Average receivables. The ratio determines the effectiveness of the company's credit policy.
Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million sets of spinning rims at an amazing price of $500 per set. In 2016, the economy was able to produce 1 million sets of spinning rims at a price of $1,000 per set. By what amount did real GDP increase between 2015 and 2016 in the simple one good economy
Answer: 0
Explanation:
Firstly, we will calculate the nominal value in 2015 which will be:
= $500 x 1 million
= $500 million
The nominal value in 2016 will be:
= $1000 x 1 million
= $1 billion
Real GDP will be the price of the base year multiplied by the quantity of the current year which will be:
= $500 million x 1 million sets
= $500 million
Therefore, the increase in real GDP is zero.
The specific actions to be taken in implementing a strategy.
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
In general terms, the specific actions to be taken in implementing a strategy are the following.
First of all, the manager has to clearly define the strategic plan and its content.
Then, define the general goal, and specific goals. It is highly recommended to use the SMART formula. Goals have to be specific, measurable, attainable, realistic, and time-bound.
Then, define the Key Performing Indicators or KPI's. These will serve to define the results the company expects to accomplish with the plan.
Create a series of programs and specific actions to reach the goals.
Then, to implement the tactics or specific programs.
Monitoring the programs and then evaluate the results to provide feedback.
Gary is walking through his organization's buying process and has identified some additional steps that are needed in a B2B transaction. What would be included in those additional steps
Answer: order-routine specification
problem recognition
Explanation:
Business-to-business transactions occur when a business makes a transaction with another business. It should be noted that this takes place when the business is sourcing materials which will be used for their production process.
Since Gary is walking through his organization's buying process and has identified some additional steps that are needed in a B2B transaction, the additional steps should include the order-routine specification and the problem recognition.
If the efficient market hypothesis is true, price changes are independent and biased. Group of answer choices
Answer:
Price changes are independent but not biased in efficient market hypothesis.
Explanation:
In simple words, the efficient-market hypothesis asserts that asset prices represent all relevant knowledge. Because market rates must only respond to fresh knowledge it is difficult to continuously "beat the market" on something like a risk-adjusted approach.
Thus the given statement is partially true.
The Aqua Liquid Assets Money Market Mutual Fund has a NAV of $1 per share. During the year, the assets held by this fund appreciated by 1.4 percent. If you had invested $50,000 in this fund at the start of the year, how many shares would you own at the end of the year
Answer:
Missing word "Final shares=? Net asset value=?"
Final shares is computed as follows:
= (Amount invested / NAV per share) * (1 + Fund appreciation)
= ($50,000 / $ 1) * (1 + 0.014)
= $50,000 * 1.014
= $50,700
As know that this is a Money Market Mutual Fund, hence the Net asset value of this fund at the end of the year will be also $1.
Swifty Corporation purchased a truck at the beginning of 2020 for $109600. The truck is estimated to have a salvage value of $4100 and a useful life of 123000 miles. It was driven 18000 miles in 2020 and 26000 miles in 2021. What is the depreciation expense for 2020?
a. $37752
b. $22308
c. $16639
d. $15444
Answer:
Annual depreciation= $15,444
Explanation:
Giving the following information:
Purchase price= $109,600
Salvage value= $4,100
Useful life= 123,000
Miles driven 2020= 18,000
To calculate the depreciation expense, we will use the units-of-production method:
Annual depreciation= [(original cost - salvage value)/useful life of production in miles]*miles drive
Annual depreciation= [(109,600 - 4,100)/123,000]*18,000
Annual depreciation= 0.858*18,000
Annual depreciation= $15,444
Match each description 1 through 6 with the characteristic of preferred stock that it best describes by writing the letter of that characteristic in the blank next to each description.
A. Callable
B. Convertible
C. Cumulative
D. Noncumulative
E. Nonparticipating
F. Participating
_____ 1. Holders of the stock are entitled to receive current and all past dividends before common stockholders receive any dividends.
_____ 2. The issuing corporation can retire the stock by paying a prespecified price.
_____ 3. Holders of the stock can receive dividends exceeding the stated rate under certain conditions.
_____ 4. Holders of the stock are not entitled to receive dividends in excess of the stated rate.
_____ 5. Holders of this stock can exchange it for shares of common stock.
_____ 6. Holders of the stock lose any dividends that are not declared in the current year.
Answer and Explanation:
The classification is as follows
a. In the callable, the corporation who issued could retired the stock by payoff the mentioned price
b. In the convertible, the stockholders could able to exchange for the common stock shares
c. In the cumulative, the stockholders should received the current as well as the past dividends prior to the common stockholders
d. In the non-cumulative, the stockholders should lose the dividend that not declared in the present year
e. In the non-participating, the stockholders should not received any dividend that more than the stated rate
f. In the participating, the stockholder should received any dividend that more than the stated rate
Consider the following data and then calculate the half-life for this particular isotope:
Time Activity (cpm)
0 days 320,000
40 days 216,100
100 days 120,000
(A) 35.2 days.
(B) 75.6 days.
(C) 70.6 days.
(D) 62.9 days.
(E) None of these.
Answer:
D. 62.9 days
Explanation:
Half Life Cpm activity:
320,000 / 2 = 160,000
At 100 days cpm is 120,000 then cpm 160,000 will be at 62.9 days.
[320,000 - 216,100] / 40 days = 2,597.5
160,000 / 2,597.5 = 62.9 days.
MC Qu. 114 Lowden Company has an overhead application... Lowden Company has an overhead application rate of 155% and allocates overhead based on direct material cost. During the current period, direct labor cost is $60,000 and direct materials used cost $90,000. Determine the amount of overhead Lowden Company should record in the current period.
Answer:
the overhead amount recorded is $139,500
Explanation:
The computation of the overhead amount recorded is shown below:
= Overhead application rate × direct material cost
= 155% × $90,000
= $139,500
Hence, the overhead amount recorded is $139,500
We simply applied the above formula so that the correct value could come
Splish Brothers Inc. reported net income of $394000 for the year. During the year, accounts receivable increased by $29000, accounts payable decreased by $12000 and depreciation expense of $61000 was recorded. Net cash provided by operating activities for the year is
Answer:
$414000
Explanation:
Calculation to determine what Net cash provided by operating activities for the year is
Net income $394000
Less Receivable increased ($29000)
Less Accounts payable decreased ($12000)
Add depreciation expense $61000
Net Net cash provided by operating activities $414000
Therefore Net cash provided by operating activities for the year is $414000
Gotham City acquires $25,000 of inventory on November 1, 20X7, having held no inventory previously. On December 31, 20X7, the end of Gotham City's fiscal year, a physical count shows $8,000 still in stock. During 20X8, $6,500 of this inventory is used, resulting in a $1,500 remaining balance of supplies on December 31, 20X8.
Based on the preceding information, what would be the correct account balances for 20X7 if Gotham City used the purchase method of accounting for inventories?
Answer:
$25,000; $8,000
Explanation:
Based on the information given , we were told that they acquires the amount of $25,000 of inventory on NOVEMBER 1, 20X7, in which on DECEMBER 31, 20X7, a PHYSICAL COUNT shows $8,000 was still in stock which means wthat the CORRECT ACCOUNT BALANCES for 20X7 if Gotham City used the PURCHASE METHOD of accounting for INVENTORIES will be Expenditure of the amount of $25,000 and Inventory of supplies of the amount of $8000.
On January 1, 2017, ARC Inc. issued 100 5-year bonds, with a face value of $1,000 each and a coupon rate of 10%, payable semiannually. The interest is paid on June 30 and December 31 of each year. The market rate of interest at the time that the bonds were issued was 13%, so that the bonds were sold for $892 each.1. Interest expense for the January 1–June 30 period was $_____.
2. Interest expense for the July1–December 31 period was $_____.
3. Book value of Bonds on June 30 was $_____.
4. Book value of Bonds on December 31 was $_____.
5. Interest payment on June 30 was $_____.
Answer:
ARC Inc.
1. Interest expense for the January 1–June 30 period was $__5,798___.
2. Interest expense for the July 1–December 31 period was $__5,850___.
3. Book value of Bonds on June 30 was $__89,998___.
4. Book value of Bonds on December 31 was $__90,848___.
5. Interest payment on June 30 was $__5,000___.
Explanation:
a) Data and Calculations:
January 1, 2017:
Face value of issued bonds = $100,000 ($1,000 * 100)
Coupon rate of interest = 10%
Effective rate of interest = 13%
Price of issued bonds = $89,200 ($892 * 100)
Discount on bonds = $10,800 ($100,000 - $89,200)
Interest payment = June 30 and December 31 (semiannually)
June 30:
Interest expense = $5,798 ($89,200 * 6.5%)
Cash payment = $5,000 ($100,000 * 5%)
Amortization of discount = $798
Value of bonds = $89,998 ($89,200 + $798)
December 31, 2017:
Interest expense = $5,850 ($89,998 * 6.5%)
Cash payment = $5,000 ($100,000 * 5%)
Amortization of discount = $850
Value of bonds = $90,848 ($89,998 + $850)
Umatilla Bank and Trust is considering giving Kingbird, Inc. a loan. Before doing so, it decides that further discussions with Kingbird, Inc.’s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $253,450. Discussions with the accountant reveal the following.
1. Kingbird, Inc. sold goods costing $51,940 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2.The physical count of the inventory did not include goods costing $88,290 that were shipped to Kingbird, Inc. FOB destination on December 27 and were still in transit at year-end.
3. Kingbird, Inc. received goods costing $25,690 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count.
4. Kingbird, Inc. sold goods costing $53,020 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Kingbird, Inc. physical inventory.
5. Kingbird, Inc. received goods costing $46,060 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $253,450.
Answer:
$286,100
Explanation:
Calculation to determine the correct inventory amount on December 31.
Using this formula
Correct Inventory amount=Ending Inventory+ Goods received shipping points + Goods shipped FOB destination-Goods received FOB destination
Let plug in the formula
Correct Inventory amount=$253,450+$25,690+$53,020-$46,060
Correct Inventory amount=$286,100
Therefore the correct inventory amount on December 31 is $286,100
The management of Penfold Corporation is considering the purchase of a machine that would cost $360,000, would last for 10 years, and would have no salvage value. The machine would reduce labor and other costs by $50,000 per year. The company requires a minimum pretax return of 9% on all investment projects. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes.):
Answer:
the net present value is -$72,050
Explanation:
The computation of the net present value is shown below
= $50,000 per year ×PVIFA factor at 10 years for 9% - $360,000
= $50,000 ×5.7590 - $360,000
= $287,950 - $360,000
= -$72,050
hence, the net present value is -$72,050
So the same should be relevant and considered too
