The terms and conditions of an online sale are not binding on the buyer if the buyer did not read them.
Select one:
O True
O False

Answers

Answer 1

Answer:

True

Explanation:

i hope this help you


Related Questions

Adriana and Belen are partners who share income in the ratio of 3:2 and have capital balances of $50,000 and $90,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $90,000. How much cash should be distributed to Adriana

Answers

Answer:

$54,000

Explanation:

First, we add the ratios together to determine the total parts:

3+2= 5

Next, we divide the cash balance of $90,000 by the total parts:

$90,000/5 = $18,000

To find the amount of cash distributed to Adriana we multiply by her ratio:

5*18,000 = $54,000.

Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy.
Year 1 Year 2
Amounts billed to clients for services rendered $ 170,000 $ 220,000
Cash collected from clients 160,000 190,000
Cash disbursements
Salaries paid to employees for services rendered during the year 90,000 100,000
Utilities 30,000 40,000
Purchase of insurance policy 60,000 0
In addition, you learn that the firm incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.
Required:
1. & 3. Calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the firm would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.
2. Prepare an income statement for each year according to the accrual accounting model.
Revenues not attempted not attempted
Expenses:
Salaries 90,000selected answer correct 100,000selected answer correct
Utilities 30,000selected answer incorrect 40,000selected answer incorrect
Insurance 60,000selected answer incorrect 0selected answer incorrect
Net income (loss)

Answers

Answer:

Pete, Pete, and Roy

1. Net operating cash flow for years 1 and 2

                                                Year 1        Year 2

Cash collected from clients  $160,000     190,000

Cash disbursements

Salaries paid to employees     90,000     100,000

Utilities                                      30,000      40,000

Purchase of insurance policy  60,000     0

Total disbursements            $180,000   $140,000

Net operating cash flow      ($20,000)   $50,000

3. Amount of receivables in year 1 and 2:

                                               Year 1        Year 2

Beginning balance                                  $10,000

Amounts billed to clients for

 services rendered            $ 170,000 $ 220,000

Cash collected from clients  160,000     190,000

Balance                                 $10,000    $40,000

2. Pete, Pete, and Roy

Income Statements for years 1 and 2:

                                               Year 1        Year 2

Service Revenue              $ 170,000 $ 220,000

Expenses:

Salaries expense                  90,000     100,000

Utilities expense                  35,000       35,000

Insurance expense              20,000      20,000

Total expenses                $145,000   $155,000

Net income                      $25,000     $65,000

Explanation:

a) Data and Calculations:

                                               Year 1        Year 2

Amounts billed to clients for

 services rendered            $ 170,000 $ 220,000

Cash collected from clients  160,000     190,000

Cash disbursements

Salaries paid to employees   90,000     100,000

Utilities                                    30,000      40,000

Purchase of insurance policy 60,000     0

Utility costs incurred in year 1 = $35,000

Net operating cash flow for years 1 and 2

                                                Year 1        Year 2

Cash collected from clients  $160,000     190,000

Cash disbursements

Salaries paid to employees     90,000     100,000

Utilities                                      30,000      40,000

Purchase of insurance policy  60,000     0

Total disbursements            $180,000   $140,000

Net operating cash flow      ($20,000)   $50,000

Insurance expense per year = $60,000/3 = $20,000

Utilities for year 1 = $35,000

Utilities for year 2 = $35,000

As CEO of ​, knows it is important to control costs and to respond quickly to changes in the highly competitive​ boat-building industry. When Consulting proposes that invest in an ERP​ system, she forms a team to evaluate the​ proposal: the plant​ engineer, the plant​ foreman, the systems​ specialist, the human resources​ director, the marketing​ director, and the management accountant. A month​ later, management accountant reports that the team and estimate that if implements the ERP​ system, it will incur the following​ costs:

a. $435,000 in software costs
b. $95,000 to customize the ERP software and load Aqua Marine's data into the new ERP system
c. $105,000 for employee training

The team estimates that the ERP system should provide several benefits:
a. More efficient order processing should lead to savings of $105,000.
b. Streamlining the manufacturing process so that it maps into the ERP system will create savings of $125,000.
c. Integrating purchasing, production, marketing, and distribution into a single system will allow Aqua Marine to reduce inventories, saving $225,000.
d. Higher customer satisfaction should increase sales, which, in turn, should increase profits by $155,000.

Requirements
a. If the ERP installation succeeds, what is the dollar amount of the benefits?
b. Should Aqua Marine install the ERP system? Why or why not? Show your calculations.
c. Why did Easton create a team to evaluate Rose's proposal? Consider each piece of cost-benefit information that management accountant Cole reported. Which person on the team is most likely to have contributed each item? (Hint: Which team member is likely to have the most information about each cost or benefit?)

Answers

Answer:

a.) Total benefit if the ERP installation succeeds = $610,000

b.) They should not install the ERP system.

c.) For Estimating software costs  - Systems specialist

For Estimating cost of loading data into the new ERP system  - Management          accountant  , Systems specialist

For Customize the ERP software  - Management accountant  , Systems specialist

For Estimating customization costs  - All team members

For Estimating  training costs - Human resource director

For Savings from more efficient order processing  - Systems specialist  , Management accountant

For Savings from streamlining the manufacturing process  - Plant engineer  , Plant foreman

For Evaluating the effects of integrating purchasing, production, marketing, and distribution into a single system  - Plant foreman

For Estimating increase in sales from higher customer satisfaction  - Marketing director

For Estimating benefits and costs  - All team members

For Evaluating the effects of integrating purchasing, production, marketing, and distribution into a single system  - Plant foreman

For Estimating increase in sales from higher customer satisfaction  - Marketing director

For Estimate benefits and costs  - All team members

Explanation:

a.)

If the ERP installation succeeds , the dollar amount of the benefit is as follows :

From more efficient order processing savings = $105,000

From streamlining the manufacturing process savings = $125,000

From reduce inventories savings = $225,000

From increased sales profit = $155,000

⇒Total benefit = $ 105,000 + 125,000 + 225,000 + 155,000

                          = $610,000

⇒Total benefit if the ERP installation succeeds = $610,000

b.)

Firstly check the Costs for installation of ERP:

Software cost =  $435,000

Customizing ERP and loading data cost = $95,000

Employee training cost = $105,000

⇒Total cost = $ 435,000 + 95,000 + 105,000

                     = $635,000

⇒Total cost  = $635,000

Now,

As we have

Total Benefit in installation of ERP = $610,000

Total cost in installation of ERP = $635,000

⇒Net benefit = $610,000 - $635,000  = -$ (25,000)

∴ we get

If Aqua Marine install the ERP system , them they face loss.

So, They should not install the ERP system.

c.)

For Estimating software costs  - Systems specialist

For Estimating cost of loading data into the new ERP system  - Management          accountant  , Systems specialist

For Customize the ERP software  - Management accountant  , Systems specialist

For Estimating customization costs  - All team members

For Estimating  training costs - Human resource director

For Savings from more efficient order processing  - Systems specialist  , Management accountant

For Savings from streamlining the manufacturing process  - Plant engineer  , Plant foreman

For Evaluating the effects of integrating purchasing, production, marketing, and distribution into a single system  - Plant foreman

For Estimating increase in sales from higher customer satisfaction  - Marketing director

For Estimating benefits and costs  - All team members

For Evaluating the effects of integrating purchasing, production, marketing, and distribution into a single system  - Plant foreman

For Estimating increase in sales from higher customer satisfaction  - Marketing director

For Estimate benefits and costs  - All team members

Suppose you consider buying a bond promising to pay you $25 one year from now and then the same amount every year through the fifth year (that is, you should receive a total of five coupon payments). At the time you receive your fifth payment, you will also receive the bond's face value of $5,000. Suppose the interest rate for a riskless bond is 7%. The most you would be willing to pay for this bond is $ . Give your answer to two decimals.

Answers

Answer:

$3,667.44

Explanation:

The amount you would be willing to pay today can be determined by finding the present value of the cash flows

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 4 = $25

Cash flow in year 5 = $25 + $5000

I = 7%

Present value = $3,667.44

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

When you are able to feel and touch product, it is called

Answers

Answer:

In a Proctor & Gamble study published in 2009, spanning 21 years total, found that customers who were able to feel merchandise were willing to pay more than those who hadn't. This phenomenon is called “The Endowment Effect." Basically, we make an emotional connection with what we touch.

Explanation:

Hope this helps

From,

1kvibing

The feel and touch of the products are called the endowment effect.

What is an endowment effect?

An endowment effect is an effect that is associated with behavioral economics and the effect is that people find more likely to retain an object they own rather than acquire the object that they don't own.

The company named P and G published that clients were able to feel merchandised were willing to pay more than those who had not.

Find out more information about the product.

brainly.com/question/10873737

The Blueberry Designs ads show a lifestyle that is sophisticated and timeless. They recently launched a sportswear line with their trademark DB pattern and patented Blueberry soles on both hiking boots and casual footwear. Those who follow the Blueberry lifestyle are part of

Answers

Answer:

A reference group

Explanation:

Reference groups are are set of people who are used as a standard for how to comply with social norms thereby influencing our ideas, values, behaviour, and appearance.

For example a reference group can be a set of people that have achieved a certain level of importance in a field by following a standard.

In the given scenario Blueberry Designs ads show a lifestyle that is sophisticated and timeless.

Those that follow the standards set by Blueberry designs can be said to be a reference group

Pension data for Goldman Company included the following for the current calendar year: Service cost $ 140,000 PBO, January 1 650,000 Plan assets, January 1 700,000 Amortization of prior service cost 5,000 Amortization of net loss 1,000 Discount rate, 6% Expected return on plan assets, 8% Actual return on plan assets, 10% Required: Determine pension expense for the year. (Amounts to be deducted should be indicated with a minus sign.)

Answers

Answer:

$129,000

Explanation:

Calculation for pension expense

Service Cost $140,000

Add: Interest Cost $39,000

($650,000 × 6%)

Add: Amortization of prior service cost $5,000

Add: Amortization of net loss $1,000

Less Expected return on plan assets $56,000 ($700,000 × 8%)

Pension Expense $129,000

Therefore Pension Expense is $129,000

Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an exchange in which no cash changes hands. The following information for the two warehouses is available:
Denver Bristol
Cost $80,000 $31,500
Accumulated depreciation 60,000 25,000
Fair value 17,000 17,000
Required:
1. Assuming the exchange has commercial substance, prepare journal entries for Denver and Bristol to record the exchange.
2. Assuming the exchange does not have commercial substance, prepare journal entries for Denver and Bristol to record the exchange.

Answers

Answer and Explanation:

The journal entries are shown below

1.

On Denver books

Equipment Dr $17,000

Accumulated depreciation $60,000

Loss on sale of equipment $3,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $17,000

Accumulated depreciation $25,000

          To Gain on sale of equipment $10,500

          To Equipment $31,500

(Being equipment recorded)

2.

On Denver books

Equipment Dr $20,000

Accumulated depreciation $60,000

                  To Equipment $80,000

(Being equipment recorded)

On Bristol books

Equipment Dr $6,500

Accumulated depreciation $25,000

          To Equipment $31,500

(Being equipment recorded)

Sunland Company, has 14700 shares of 4%, $100 par value, cumulative preferred stock and 60200 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $113000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021

Answers

Answer:

2021 Common Stockholders dividends = $49,600

Explanation:

Preference Shareholders are always paid their dividends first before Common Stockholders. If dividend is not declared, Preference dividends are cumulated to the next period and are due !

2019

Preferred Stockholders Dividends = 14700 x $100 x 4% = $58,800

Common Stockholders dividends = $ 0

2020

Preferred Stockholders Dividends =  $58,800 (2019) + $54,200 (2020)

Common Stockholders dividends = $0

2021

Preferred Stockholders Dividends = $4,600 (2020 arrears) + $58,800 (2021) = $63,400

Common Stockholders dividends = $113,000 - $63,400 = $49,600

The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $194,560. The conversion cost for the period in the Filling Department is $98,340. The total equivalent units for direct materials and conversion are 25,600 ounces and 29,800 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.
Direct materials cost per equivalent unit: $ per ounce
Conversion costs per equivalent unit: $ per ounce
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.20 and $0.65, respectively. The equivalent units to be assigned costs are as follows:
Equivalent Units
Direct Materials Conversion
Inventory in process, beginning of period 0 3,600
Started and completed during the period 45,000 45,000
Transferred out of Filling (completed) 45,000 48,600
Inventory in process, end of period 3,000 1,500
Total units to be assigned costs 48,000 50,100
The beginning work in process inventory had a cost of $2,380. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.

Completed and transferred-out production $
Inventory in process, ending $

Answers

Answer:

Part 1

Direct material cost per equivalent units = $194,560 / 25,600 ounces

Direct material cost per equivalent units = $ 7.60 per ounce

Conversion Cost per equivalent units = $98,340 / 29,800 ounce

Conversion Cost per equivalent units = $3.30 per ounce

Part 2

Completed and Transferred out of production = $2380 + (45,000* $2.20) + (3,600 * $0.65) + (45,000 * $0.65)

= $2,380 + $99,000 + $2,340 + $29,250

= $132,970

Inventory in process, ending = (3000 * $2.20) + (1500 * $0.65)

= $6,600 + $975

= $7,575

Find the present values of the following cash flow streams. The appropriate interest rate is 10%. (Hint: It is fairly easy to work this problem dealing with the individual cash flows. However, if you have a financial calculator, read the section of the manual that describes how to enter cash flows such as the ones in this problem. This will take a little time, but the investment will pay huge dividends throughout the course.

Year     Cash Stream A Cash Stream B
1 $100 $300
2 400 400
3 400 400
4 400 400
5 300 100
     
Required:
What is the value of each cash flow stream at a 0 percent interest rate?

Answers

Answer:

a. The present value of Cash flow stream A at 10% interest rate is $1,181.50; while the present value of Cash flow streams B at 10% interest rate is $1,239.13.

b. Present value of Cash flow streams A and B at 0% interest rate are both equal to $1,600.

Explanation:

a. Calculations of the present values of Cash Flow Stream A and B at 10% interest rate

The present value (PV) for a particular year can be calculated using the following formula:

PV = FV / (1 + r)^n

Where:

PV = present value of a particular year

FV = Future value or cash stream of a particular year

r = interest rate = 10%

n = The particular year in focus

The present value of cash flow streams at a particular interest rate is the sum of the present values of Cash Stream for all years, and this can be calculated as follows:

Present value of Cash flow stream A at 10% interest rate = (100 / (1 + 10%)^1) + (400 / (1 + 10%)^2) + (400 / (1 + 10%)^3) + (400 / (1 + 10%)^4) + (300 / (1 + 10%)^5) = $1,181.50

Present value of Cash flow streams B at 10% interest rate = (300 / (1 + 10%)^1) + (400 / (1 + 10%)^2) + (400 / (1 + 10%)^3) + (400 / (1 + 10%)^4) + (100 / (1 + 10%)^5) = $1,239.13

b. Calculations of the present values of Cash Flow Stream A and B at 0% interest rate

The present value of cash flow streams at a 0% is simply the sum of Cash Flow Stream for all years, and this can be calculated as follows:

Present value of Cash flow stream A at 0% interest rate = $100 + $400 + $400 + $400 + $300 = $1,600

Present value of Cash flow streams B at 0% interest rate = $300 + $400 + $400 + $400 + $100 = $1,600

During its first five years of operations, a company reports net income and pays dividends as follows. Required: Calculate the balance of retained earnings at the end of each year. Note that retained earnings will always equal $0 at the beginning of year 1.

Answers

Answers:

Years:

$700$1,900$3,000$5,200$8,600

Explanation:

Retained earnings for the year is:

= Beginning retained earnings + Net income - Dividends

Year 1

= 0 + 1,200 - 500

= $700

Year 2

= 700 + 1,700 - 500

= $1,900

Year 3

= 1,900 + 2,100 - 1,000

= $3,000

Year 4

= 3,000 + 3,200 - 1,000

= $5,200

Year 5

= 5,200 + 4,400 - 1,000

= $8,600

Swifty Corporation issued 100000 shares of $10 par common stock for $1250000. A year later Swifty acquired 15900 shares of its own common stock at $15 per share. Three months later Swifty sold 8500 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 8500 treasury shares, Swifty should credit

Answers

Answer:

the journal entries should be:

Dr Cash 1,250,000

    Cr Common stock 1,000,000

    Cr Additional paid in capital 250,000

Dr Treasury stock 238,500

    Cr Cash 238,500

Dr Cash 161,500

    Cr Common stock 85,000

    Cr Additional paid in capital 76,500

Lois tells Stew he can buy her pool house for $100,000. Stew is so excited to own a home of his own that he leaves a $10,000 check in her mailbox as a starting payment on the pool house. Then, he begins remodeling the pool house, spending $3,000 in repairs and improvements. Lois decides she made a big mistake and attempts to cancel this agreement. The most likely outcome will be:

Answers

Answer:

The most likely outcome would be that Lois will still have to sell Stew the house

Explanation:

The most likely outcome would be that Lois will still have to sell Stew the house. This is mainly because Lois accepted Stew's offer of $100,000 and Stew already fulfilled part of the agreement. By simply paying the $10,000 that he left Stew he has already fulfilled part of his side of the agreement which solidifies the agreement and makes it legally binding. Therefore, he would most likely win a court case if Lois decides to back out of the agreement.

EVO, Inc. is evaluating a project that will have a life of four years. The operating cash flow each year is expected to be $51,500. There is a need to invest in net working capital at the start of the project in the amount of $4,250. EVO, Inc. will recover this investment in net working capital at the end of the project. EVO also needed to spend $22,400 on equipment in order to get the project started. The book value for this equipment when the project is finished, is estimated to be $4,660. This equipment will be sold at the end of the project for an estimated sales price of $5,670. EVO has a tax rate relevant to this analysis of 34 percent. Calculate the amount of cash flow in year 4 of this project

Answers

Answer:

$61,763.40

Explanation:

The computation of the amount of cash flow in year 4 is shown below:

Terminal Cash flow in year 4 is

= operating cash flow + net working capital invested + sale price of equipment - tax on profit from sale

= operating cash flow + net working capital invested  + sale price of equipment - tax rate × (Sale price - book value)

= $51,500 + $4,250 + $5,670 - 34% × ($5,670 - $4,660)

= $61,763.40

Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month: Direct materials $ 81,000 Direct labor $ 41,000 Variable manufacturing overhead $ 19,800 Fixed manufacturing overhead 31,600 Total manufacturing overhead $ 51,400 Variable selling expense $ 14,400 Fixed selling expense 22,800 Total selling expense $ 37,200 Variable administrative expense $ 5,200 Fixed administrative expense 27,400 Total administrative expense $ 32,600 Required: 1. With respect to cost classifications for preparing financial statements: a. What is the total product cost

Answers

Answer:

the total product cost is $153,600

Explanation:

The computation of the total product cost is as follows;

= Direct material cost + direct labor cost + total manufacturing overhead cost

= $81,000 + $41,000 + $31,600

= $153,600

Hence, the total product cost is $153,600

The other values would be ignored for determining the product cost

Your family is expanding in number, and so you decide to sell your current home and upgrade to a larger home. You estimate that you can sell your current home for $100,000 and can buy a larger home for $475,000. You plan to use the entire $100,000 sale proceeds as a down payment on the new home and will finance the remainder for 15 years at 4% nominal annual interest compounded monthly. What is your estimated monthly mortgage payment

Answers

Answer:

The Estimated Monthly Mortgage Payment

=    $2,810.81

Explanation:

Data and Calculations:

House price = $475,000

Down payment = $100,000

Percentage of down payment = 21.05% ($100,000/$475,000 * 100)

Finance period = 15 years = 180 months (15 * 12)

Nominal annual interest compounded monthly = 4%

The estimated monthly mortgage payment using an online finance calculator:

Monthly Pay:   $2,810.81

House Price $475,000.00

Loan Amount $380,000.00

Down Payment $95,000.00

Total of 180 Mortgage Payments $505,946.54

Total Interest $125,946.54

Mortgage Payoff Date Jan. 2036

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $47,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of operations on December 31, 2017. On that date, the following financial items for the year were determined: cash on hand and in the bank, $42,500; amounts due from customers from sales of books, $27,700; equipment, $46,000; amounts owed to publishers for books purchased, $8,200; one-year notes payable to a local bank for $4,050. No dividends were declared or paid to the stockholders during the year. Assuming that Reader Direct generates net income of $7,000 and pays dividends of $2,800 in 2018, what would be the ending Retained Earnings balance at December 31, 2018?

Answers

Answer:

Reader Direct Corporation

The ending Retained Earnings balance at December 31, 2018 is:

$14,150

Explanation:

a) Data and Calculations:

Cash on hand and in the bank, $42,500;

Amounts due from customers from sales of books, $27,700;

Equipment, $46,000;

Amounts owed to publishers for books purchased, $8,200;

One-year notes payable to a local bank for $4,050

Common Stock ($47,000 * 2) = $94,000

Assets:

Cash                           $42,500

Accounts Receivable   27,700

Equipment                   46,000

Total assets              $116,200

Liabilities + Equity:

Accounts Payable      $8,200

Notes Payable             4,050

Total liabilities          $12,250

Equity:

Common Stock      $94,000

Retained Earnings     9,950

Total equity          $103,950

Liabilities + equity $116,200

Retained Earnings:

Dec. 31, 2017          $9,950

Net income               7,000

less Dividends        (2,800)

Dec. 31, 2017        $14,150

The total cost accumulated in the sales department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): $150,050. $142,471. $102,222. $122,402. $127,778.

Answers

Answer:

$127,778

Explanation:

Calculation for total cost accumulated in the sales department using the reciprocal method

Direct operating cost$70,000

Acturial Cost allocated 24,000

Premium Ratings allocated cost 24,000

Acturial Cost allocated 6400

Premium Ratings allocated cost 2400

Acturial Cost allocated 640

Premium Ratings allocated cost 240

Acturial Cost allocated 64

Premium Ratings allocated cost 24

Acturial Cost allocated 6

Premium Ratings allocated cost 2

Acturial Cost allocated 1

Premium Ratings allocated cost 0

Total cost accumulated $127,778

Therefore total cost accumulated in the sales department using the reciprocal method is $127,778

In the text, we supposed a college education raised a person's wage by $30,000 per year, from $40,000 to $70,000. Assume the relevant interest rate is 3%, there is no growth in wages, and you are expected to retire at 65 years old after you graduate high-school. (a): Suppose you are a 18 year old graduating high school senior deciding whether or not to go to college. What is the present discounted value of your labor earnings if you chose not to attend college

Answers

Answer:

$1,010,668

Explanation:

if you choose not to attend college, you should be working for 65 - 18 = 47 years

your expected annual salary is $40,000

the present value of your future earnings = $40,000 x PV annuity factor

PV annuity factor = = [1 - 1/(1 + i)ⁿ] / i = [1 - 1/(1 + 0.03)⁴⁸] / 0.03 = 25.2667

present value of future earnings = $40,000 x 25.2667 = $1,010,668

Conrad, Inc. recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records.
Cost of Goods Sold $ 65,000
Work-in-Process Inventory, Beginning 10,500
Work-in-Process Inventory, Ending 9,000
Selling and Administrative Expense 15,000
Finished Goods Inventory, Ending 15,000
Finished Goods Inventory, Beginning?
Direct Materials Used ?
Factory Overhead Applied 12,000
Operating Income 14,000
Direct Materials Inventory, Beginning 11,000
Direct Materials Inventory, Ending 6,000
Cost of Goods Manufactured 60,000
Direct labor cost incurred during the period amounted to 1.5 times the factory overhead. The CFO of Fisher, Inc. has asked you to recalculate the following accounts and to report to him by the end of the day. What is the amount of direct materials used?

Answers

Answer:

See below

Explanation:

Direct materials used = Cost of goods manufactured - work in process inventory, beginning - factory overhead applied - direct labor + work in process inventory, ending

= $60,000 - $10,500 - $12,000 - (1.5 × $12,000) + $9,000

=

This type of insurance pays to fix damages that you cause, but does not cover your own car

Answers

I think your referring to a property damage liability coverage which helps you pay for property or vehicle if it is a case that you caused it to be damaged.

When using the Copy to Purchase Order feature from within an Estimate , where do you need to turn on USE Purchase orders?

Answers

Answer: From expenses within the Accounts & settings.

Explanation:

When using the copy to purchase order feature within an estimate, to turn on USE purchase orders you navigate to expenses under accounts and settings. When you get to the accounts and settings you would see the feature that shows "Expenses" tab. In the Purchase orders section, select the edit icon. Turn on the Use purchase orders options.

Answer:account and settings, expenses, purchase order

Explanation:

Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. The Controller has asked you to help prepare the Aging of Accounts Receivable Schedule and the corresponding journal entries. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.
1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx).
2) Use the information above to complete the Aging of Accounts Recievable Schedule Below.
Create a formula for each age category, using the Excel IF and AND FUNCTION (fx) to determine where each customer amount belongs.
3) Prepare the adjusting journal entry for recording bad debt expense if the allowance for doubtful accounts had the following unadjusted balance:
4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance:

Answers

Answer:

In the number of days unpaid column (E8), input the formula; "=DAYS(D8, C8)" then copy it down to the last item on the table.

Explanation:

Answering just the first question, the DAYS function is used to calculate the difference between day timelines. The function accepts two parameters, the first date which is the current date we are subtracting from, and the second date which is the previous date.

Elliot, Inc., uses the high-low method to analyze cost behavior. The company observed that at 20,000 machine hours of activity, total maintenance costs averaged $10.50 per hour. When activity jumped to 24,000 machine hours, which was still within the relevant range, the average total cost per machine hour was $9.75. On the basis of this information, the company's fixed maintenance costs were:

Answers

Answer:

$90,000

Explanation:

At the activity level of 20,000 machine hours:

total maintenance costs=20,000* $10.50=$210,000

At the activity level of 24,000 machine hours:

total maintenance costs=24,000*$9.75=$234,000

variable maintenance cost per hour=(total maintenance costs at higher activity level-total maintenance costs at lower activity level)/(higher activity level-lower activity level)

variable maintenance cost per hour=($234,000-$210,000)/(24000-20000)

variable maintenance cost per unit=$6

Using the higher activity level data:

total cost=fixed cost+(variable maintenance cost per unit*number of hours)

$234,000=fixed cost+($6*24000)

234,000=fixed cost+$144,000

fixed cost=$234,000-$144,000

fixed cost=$90,000

Suppose two projects have the same expected business value. Project A has a very high estimated business value along with a high probability of failure. Project B has a much lower estimated business value along with a low probability of failure. If you could do only one of the projects, which one would you choose and under what conditions

Answers

Answer:

Project B has a much lower estimated business value along with a low probability of failure.

Explanation:

In order to do only one type of project that has the same business values. I would choose a project that has a low probability of failure. Though it has a low value but in the long run will lead to economic profit and shareholders value. For selection, we need to find out the benefits gained by the project.

If a person could choose only one project he must select Project B as it has a much lower estimated business value along with a low probability of failure.

What are the selection criteria for the project?

Project B would be a better option to choose as it is giving less risk to business as compared to Project B in terms of failure. However, the value of Project B is less but it has the potential to generate economic profits in the long run.

Therefore, by evaluating the cost and benefit from two projects shareholder's interest would be intact more through Project B.

Learn more about project managemnet here:

https://brainly.com/question/26266895

ExxonMobil reports total assets of $188 billion and total liabilities of $87 billion. Citigroup reports total liabilities of $1,300 billion and stockholders' equity of $90 billion. Amazon reports total assets of $2.7 billion and total stockholders' equity of $0.10 billion. Nike reports an increase in assets of $1.00 billion and an increase in liabilities of $0.5 billion. Kellogg's reports a decrease in liabilities of $0.44 billion and an increase in stockholders' equity of $0.04 billion. (Enter your answers in billions rounded to 2 decimal places. Negative amounts should be indicated by a minus sign.) Required: What is the amount of stockholders' equity of ExxonMobil

Answers

Answer:

$101 billion

Explanation:

The computation of the amount of stockholders' equity of ExxonMobil is shown below:

As we know that

Total assets = Total liabilities + stockholder equity

where,

total assets is $188 billion

And, the total liabilities is $87 billion

So, the stockholder equity is

= $188 billion - $87 billion

= $101 billion

Healthy competition among businesses is good for consumers.

True or False

Answers

I say true because it seems like most likely answer.

Atlantic Corporation reported the following amounts at the end of the first year of operations: Common stock $ 270,000 Sales revenue $ 940,000 Total assets $ 740,000 Dividends declared $ 65,000 Total liabilities $ 410,000 What are the retained earnings of Atlantic at the end of the year, and what amount of expenses were incurred during the year

Answers

Answer:

See below

Explanation:

According to the above information, Retained earning is

Sales revenue $940,000 - dividend declared $65,000 = $875,000

Retained earning is $857,000

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $348,400 and direct labor hours would be 47,000. Actual manufacturing overhead costs incurred were $304,000, and actual direct labor hours were 52,400. The journal entry to apply the factory overhead costs for the year would include a

Answers

Answer:

Journal Entry

Debit Work-in-Process $388,284

Credit Manufacturing Overhead $388,284

To record the application of factory overhead costs for the year.

Explanation:

a) Data and Calculations:

Estimated factory overhead costs = $348,400

Estimated direct labor hours = 47,000

Predetermined overhead rate = $7.41 ($348,400/47,000)

Actual overhead costs = $304,000

Actual direct labor hours = 52,400

Applied overhead costs = $388,284 (52,400 * $7.41)

b) The overhead applied to the production for the year will be the actual direct labor hours by the predetermined overhead rate.  This yields a cost that is greater than the actual overhead costs, which means that the manufacturing overhead was overapplied.  The cause of this situation is the number of actual direct labor hours worked vis-a-vis the actual overhead costs and the predetermined rate.

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