Answer:3 grills
Explanation: Each grill can cook 20 meals in an hour so 3 grills is needed, the restaurant could cook 60 meals in one hour
Assume that the following events occurred at a division of Generic Electric for March of the current year:
1. Purchased $100 million in direct materials.
2. Incurred direct labor costs of $46 million.
3. Determined that manufacturing overhead was $76 million.
4. Transferred 90 percent of the materials purchased to work-in-process.
5. Completed work on 75 percent of the work-in-process. Costs are assigned equally across all work-in-process.
6. The inventory accounts have no beginning balances. All costs incurred were debited to the appropriate account and credited to Accounts Payable.
Required:
Give the amounts for the following items in the Work-in-process account: (Do not round your intermediate calculations. Enter your final answers in millions rounded to 2 decimal places.)
Transfers-In ____ Million
Transfers-Out ______ Million
Ending Balance _____ Million
Answer:
Transfers-In
= Direct materials + Direct labor costs + Manufacturing overhead
= (90% * 100) + 46 + 76
= $212 million
Transfer-Out
= Cost transferred in * work completed
= 212 * 75%
= $159 million
Ending Balance
= Cost transferred in - Cost transferred out
= 212 - 159
= $53 million
your able to save $100 from your paycheck . how could you distribute the money between your 3saving goals above ?
Tickets Now contracts with the producer of Riverdance to sell tickets online. Tickets Now charges each customer a fee of $4 per ticket and receives $10 per ticket from the producer. Tickets Now does not take control of the ticket inventory. Average ticket price for the event is $150. How much revenue should Tickets Now recognize for each Riverdance ticket sold? Group of answer choices $14 because both the fee from the customer and the producer are earned $150 because the $140 is cost of goods sold paid to the Riverdance producer None of the above $186 because the $140 is cost of goods sold paid to the Riverdance producer $4 because the $10 from the producer is similar to a negative cost of goods sold
Answer:
The correct option: $14 because both the fee from the customer and the producer are earned
Explanation:
Based on the information given we were told that Tickets Now charges each of their customer a fee amount of $4 per ticket in which they receives the amount of $10 per ticket from the producer which means that the amount of revenue Tickets should Now recognize for each Riverdance ticket they sold will be $14 ($10 per ticket +$4 per ticket) because both the fee from the customer and the producer are earned.
A manufacturing plant produces and markets two product lines: surfboard equipment and sailboard equipment. An example of indirect cost for the surfboard equipment line is the ________. Group of answer choices beverages provided daily in the plant break room for the entire staff research and development cost for the surfboard equipment material used to make the surfboard salaries of the clerical staff that work in the company administrative offices sales and marketing expenses incurred for both products
Answer:
The correct answer is: Salaries of the clerical staff that work in the company administrative offices.
Explanation:
To begin with, the concept known as "indirect costs", in the field of business and accounting, are refered to those costs that are not directly implicated or accountable to a cost object. That means that they could be either variable or fixed costs and that the most common ones are related to the administration, personnel and security costs of the company. They are understand it to be the ones that are not directly linked to the product itself, like the raw materials that are needed for the production, but even though that, they are needed for the proper maintance of the company and its factories.
Opportunity costs are _____.
the costs related to the product that have to be paid regardless of the amount you sell
the costs that change depending on a company's performance
the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business
none of the above
Answer:
the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business
Explanation:
The following book and fair values were available for Westmont Company as of March 1.
Book Value Fair Value
Inventory $ 231,000 $191,750
Land 822,000 1,119,750
Buildings 2,130,000 2,447,250
Customer relationships 0 867,750
Accounts payable(104,000) (104,000)
Common stock (2,000,000)
Additional paid-in capital (500,000 )
Retained earnings 1/1 (417,500)
Revenues (464,500)
Expenses 303,000
Note: Parentheses indicate a credit balance.
Arturo Company pays $3,780,000 cash and issues 28,700 shares of its $2 par value common stock (fair value of $50 per share) for all of Westmont%u2019s common stock in a merger, after which Westmont will cease to exist as a separate entity. Stock issue costs amount to $32,800 and Arturo pays $47,500 for legal fees to complete the transaction.
Prepare Arturo%u2019s journal entry to record its acquisition of Westmont.
Answer:
1. Debit Inventory for $191,750; Debit Land for $119,750; Debit Buildings for $2,447,250; Debit Customer Relationships for $867,750; and Debit Goodwill for $1,692,500. But Credit Accounts payable for $104,000; Credit Common Stock (28,700 shares * $2) for $57,400; Credit Additional Paid-In Capital [28,700 shares * ($50-$2)] for $1,377,600; and Credit Cash for 3,780,000.
2. Debit Professional Services Expense for $47,500; and Credit Cash for $47,500.
3. Debi Additional Paid-In Capital for $32,800; and Credit Cash for 32,800.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. Please, see the attached pdf file for the represented question with the sorted data.
Also note: See the attached excel file to see how the prepared Arturo’s journal entry look like.
Note that the Goodwill is calculated as follows:
Goodwill = Inventory + Land + Buildings + Customer Relationships - Accounts payable - Common Stock (28,700 shares * $2) - Additional Paid-In Capital [28,700 shares * ($50-$2)] - Cash = $191,750 + $119,750 + $2,447,250 + $867,750 - $104,000 - $57,400 - $1,377,600 - $3,780,000 = $1,692,500
Compile a job advertisement for a receptionist vacancy
Answer:
RECEPTIONIST NEEDED - FRONT DESKJustJay Limited is looking to hire a young and vibrant young person to join
our team as a receptionist for the front desk.
ResponsibilitiesWelcoming clients and prospective clients.Handling both outgoing ang incoming calls to route them as required. Handing mail logistics.Carrying out other Administrative duties as required. QualificationsAge between 21 and 28Computer literateMust possess great Interpersonal skillsMust be a team playerGED holders are welcome to apply. Experience in similar role would be an added advantage.WE OFFER ATTRACTIVE PACKGAGES.
Send us your CV at hrjustjayltd . com or contact us on 1 - 585 - 244 - 8522.
Garvey's Fine Furnishings manufactures upscale custom furniture. currently uses a plantwide overhead rate based on direct labor hours to allocate its of manufacturing overhead to individual jobs. However, , owner and CEO, is considering refining the company's costing system by using departmental overhead rates. Currently, the Machining Department incurs of manufacturing overhead while the Finishing Department incurs of manufacturing overhead. has identified machine hours (MH) as the primary manufacturing overhead cost driver in the Machining Department and direct labor (DL) hours as the primary cost driver in the Finishing Department.
Requirement 1. Compute the plantwide overhead rate assuming that Garvey's expects to incur 30,000 total DL hours during the year First identify the formula, then compute the rate.
Total manufacturing overhead / Cost allocation base = Plantwide overhead
(estimated) rate
$1,290,000 / 30,000 = 43
Requirement 2. Compute departmental overhead rates assuming that Garvey's expects to incur 14,500 MH in the Machining Department and 17,500 DL hours in the Finishing Department during the year. First identify the formula, then compute the rate for each department.
Total department / Cost allocation base = Departmental
overhead (estimated) overhead rate
Machining 870,000 / 14,500 = 60 per mach hour
Finishing 420,000 / 17,500 = 24 per DL hour
Requirement 3. If Garvey's continues to use the plantwide overhead rate, how much manufacturing overhead would be allocated to Job 450 and Job 455? Identify th formula, then calculate the amount of manufacturing overhead that would be allocated to the jobs if the plantwide overhead rate is used.
Actual use of Manufacturing overhead
Plantwide overhead rate x allocation base = allocated
Job 450 43 x 5 = 215
Job 455 43 x 5 = 215
Requirement 4. Based on your answers to Requirements 2 and 3, does the plantwide overhead rate overcost or undercost either job? Explain. If Garvey's sells its furniture at 125% of cost, will its choice of allocation systems affect product pricing? Explain.
The single plantwide rate undercosts Job 450 by $1 and undercosts Job 455 by $216.
Answer and Explanation:
1. Plantwide overhead rate =Total manufacturing cost divided cost allocation base= 1290000/30000= $43
2. Departmental overhead rate=
Total department / Cost allocation base =
For Machining
870,000 / 14,500 = 60 per machine hour
For Finishing
420,000 / 17,500 = 24 per DL hour
3.
=Plantwide overhead rate(see above) x allocation base
For Job 450 =
43*5=$215
For Job 455 =
43*5=$215
4. Add up machining and finishing for each job
Job 450= (2*60)+(4*24)=216
Job 455= (7*60)+(3*24)= 492
Total overhead allocation for job 450 = 216
Total overhead allocation for job 455=
492
Job 450 plant wide overhead rate under costs it by 216-215=$1
Job 455 plant wide overhead rate undercosts it by 492-215=$277
5. The price is set at 125% of cost and is therefore based on cost which is affected by the cost allocation system used here. Hence choice of allocation system affects price
A can of dog food is on sale for 20% off the original price. If the original price is $1.35, what is the discount?
Answer:
this is pretty simple $ 00.27
on
Student loans can!
your options on
what you want to do in your life.
Answer:
try to get a high paying job to get that student loan out
What is an example of brand promotion
A.charging a premium
B.providing a warranty
C.providing after-sales service
D.attending a trade show
Answer:
D
Explanation:
attending a trade show
Identify at least five different careers in the Education and Training or Government and Public Administration clusters you could pursue in your home state, and choose the three that appeal to you the most. Out of the three, write a one-page essay describing which one would be your career choice and the educational pathway that you would have to follow in order to obtain that career. Finally, identify at least three colleges, universities, or training programs that are suited to that career choice. You can use the following resources to help you:
Answer:
Hydrologist
Architect
Naval architect
Architectural or civil drafter
Materials lab and supply technician
Explanation:
Assume the November transactions for Camindo Co. are as follows:
Received cash of $60,000 from investors in exchange for capital stock.
Provided services of $16,300 on account.
Purchased supplies on account $750.
Received cash of $11,800 from clients for services previously billed.
Received $6,250 for services provided from clients who paid cash.
Paid $600 on account for supplies that had been purchased.
Paid $3,380 for a one-year insurance policy.
Paid the following expenses: wages, $7,800; utilities, $1,000; rent, $3,750.
Paid dividends of $2,300 to stockholders.
Record the transactions, using the integrated financial statement framework that follows:
Assets = Liabilities + Stockholders' Equity
Cash Accounts Receivable Supplies Prepaid Insurance Accounts Payable Capital Stock Retained Earnings
a. $ $
b. $ $
c. $ $
d. $ $
e. $ $
f. $ $
g. $ $
h. $ $
i. $ $
Bal $ $ $ $ $ $ $
Calculate the November 30 cash balance and the amount of net income for November for Hoover Co.
Ending cash balance $
Net income
$
Prepare a multiple-step income statement for Surry Co. from the following data for the year ended December 31, 2016.
Sales $915,000
cost of merchandise sold $670,000
administrative expenses $30,000
interest expense $12,000
rent revenue $19,000
sales returns and allowances $55,000
selling expenses $120,000
Hide
Multiple-step income statement
Surry Co.
Income Statement
For the Year Ended December 31, 2016
Revenue from sales:
Administrative expenses
Cost of merchandise sold
Gross profit
Income from operations
Sales
Selling expenses
Correct 5
$
Correct 6
Gross profit
Income from operations
Interest expense
Less: Sales returns and allowances
Rent revenue
Selling expenses
Correct 7
Correct 8
Net sales
$
Correct 10
Administrative expenses
Cost of merchandise sold
Income from operations
Interest expense
Less: Sales returns and allowances
Rent revenue
Correct 11
Correct 12
Administrative expenses
Gross profit
Income from operations
Rent revenue
Sales
Selling expenses
Correct 13
$
Correct 14
Operating expenses:
Cost of merchandise sold
Gross profit
Less: Sales returns and allowances
Rent revenue
Sales
Selling expenses
Correct 16
$
Correct 17
Administrative expenses
Cost of merchandise sold
Gross profit
Income from operations
Rent revenue
Sales
Correct 18
Correct 19
Total operating expenses
Correct 21
Administrative expenses
Cost of merchandise sold
Gross profit
Income from operations
Interest expense
Rent revenue
Correct 22
$
Correct 23
Other income:
Administrative expenses
Cost of merchandise sold
Gross profit
Rent revenue
Sales
Selling expenses
Correct 25
$
Correct 26
Other expense:
Administrative expenses
Interest expense
Less: Sales returns and allowances
Rent revenue
Sales
Selling expenses
Correct 28
Correct 29
Correct 30
Net income
$
Given the following list of accounts, calculate Total Assets:
Accounts Receivable $ 10,000
Capital Stock 20,000
Cash 25,300
Equipment 16,800
Fees Earned 44,400
Miscellaneous Expense 17,800
Rent Expense 3,250
Retained Earnings 7,850
Salaries Expense 15,400
Wages Expense 15,000
a. $54,600
b. $40,050
c. $52,100
d. $55,300
Use the following information to determine Total Stockholders' Equity:
Total Assets $ 45,000
Total Liabilities 18,000
Total Stockholders' Equity x
Total Retained Earnings 5,000
a. $27,000
b. $58,000
c. $40,000
d. $32,000
summary of the cash receipts and cash payments for a specific period of time is a(n):
a. income statement.
b. balance sheet.
c. statement of cash flows.
d. retained earnings statement.
During 2015, Trinder Corporation had an increase in total assets of $80,000 and an increase in total liabilities of $60,000. Assuming that capital stock increased by $8,000 and no dividends were paid, calculate Trinder's net income or net loss for 2015.
a. Net income of $72,000
b. Net income of $12,000
c. Net loss of $20,000
d. Net income of $28,000
Which of the following is true about the cost principle?
a. It reports the revenues earned by a company for a period with the expenses incurred in generating the revenues.
b. It assumes that a company will continue in business indefinitely.
c. It initially records assets in the accounting records at their purchase price.
d. It limits the economic data recorded in an accounting system to data related to the activities of that company.
The payment of $20,000 for expenses was incorrectly recorded by Elite Co. as an increase in cash of $20,000 and a decrease in retained earnings of $20,000. What is the effect of this error on the accounting equation?
a. Total assets will exceed total liabilities and stockholders' equity by $40,000. {C}
b. Total assets will exceed total liabilities and stockholders' equity by $20,000.
c. The error will not affect the accounting equation.
d. Total assets will be less than total liabilities and stockholders' equity by $40,000.
Answer:
1. Surry Co.
Income Statement
For the Year Ended December 31, 2016
Sales $915,000
Less: Sales retiurns and allowances $55,000
Net Sales $860,000
Cost of merchandise sold $670,000
Gross profit $190,000
Less: Administrative expenses $30,000
Selling expenses $120,000 $150,000
Operating Profit $40,000
Other Income and expenses
Rent revenue $19,000
$59,000
Less: Interest expense $12,000
Net Profit $47,000
2) Total assets = Accounts receivable + Cash + equipment = $10000 + $25,300 + $16,800
Total assets = $52,100
3) Total assets = Total Liabilities + Stockholders' equity
$45,000 = $18,000 + Stockholders' equity
Stockholders' Equity = $45,000 - $18,000
Stockholders' Equity = $27,000
Note: retained earning is part of the stock holders' equity
4) The summary of the cash receipts and cash payments for a specific period of time is a(n) is Statement of Cash Flows
5) Increase in total assets = Increase in total liabilities + Increase in stockholders’ equity
$80,000 = $60,000 + (Increase in common stock + increase in retained earnings)
$80,000 = $60,000 + ($8000 + Increase in retained earnings)
Increase in retained earnings = $80,000 - $60,000 - $8,000
Increase in retained earnings = $12,000
As no dividend has been paid, Increase in net income of Trinder = Increase in retained earnings = $12,000
6) Cost principle
It initially records assets in the accounting records at their purchase price.
7) Total assets will exceed total liabilities and stockholders' equity by $40,000.
For the error, cash on the asset side will increase by $20000 and the retained earnings will decrease by $20000 from their current balances. The asset side will exceed the total of the liability and equity side by $20,000 - ($20,000) = $40,000
Middle management is the intermediate management level accountable to top management and responsible for leading lower level managers. Which of the following is not a typical function of middle management? Middle management is at the center of a hierarchical organization, subordinate to the senior management but above the lowest levels of operational staff. Middle managers are accountable to top management for their department’s function. They provide guidance to lower-level managers and inspire them to perform better. Middle managers balance a functional or technical understanding of those who report to them with the interpersonal skills of a manager. This form of leadership requires a strong ability to communicate, mentor, train, hire, organize, optimize processes, and prioritize. Middle-management functions generally revolve around enabling teams of workers to perform effectively and efficiently and reporting these performance indicators to upper management. Middle management may be reduced in organizations as a result of reorganization. Such changes can take the form of downsizing," delayering," and outsourcing.
Answer:
Middle Management
Which is not a typical function:
Middle management may be reduced in organizations as a result of reorganization. Such changes can take the form of downsizing," delayering," and outsourcing.
Explanation:
Options:
1. Middle management is at the center of a hierarchical organization, subordinate to the senior management but above the lowest levels of operational staff.
2. Middle managers are accountable to top management for their department’s function. They provide guidance to lower-level managers and inspire them to perform better.
3. Middle managers balance a functional or technical understanding of those who report to them with the interpersonal skills of a manager. This form of leadership requires a strong ability to communicate, mentor, train, hire, organize, optimize processes, and prioritize.
4. Middle-management functions generally revolve around enabling teams of workers to perform effectively and efficiently and reporting these performance indicators to upper management.
5. Middle management may be reduced in organizations as a result of reorganization. Such changes can take the form of downsizing," delayering," and outsourcing.
The last option (No. 5) is certainly not a function of middle management. It is what happens to middle management during reorganization.
Following are the transactions of Sustain Company. June1 T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock. 2 The company purchased $4,000 of furniture made from reclaimed wood on credit. 3 The company paid $600 cash for a 12-month insurance policy on the reclaimed furniture. 4 The company billed a customer $3,000 in fees earned from preparing a sustainability report. 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase. 20 The company collected $3,000 cash for fees billed on June 4. 21 T.James invested an additional $10,000 cash in Sustain Company in exchange for common stock. 30 The company received $5,000 cash from a client for sustainability services for the next 3 months. Prepare general journal entries for the above transactions.
Answer:
June 1 T. James, owner, invested $11,000 cash in Sustain Company in exchange for common stock.
Dr Cash 11,000
Cr Commons stock 11,000
June 2 The company purchased $4,000 of furniture made from reclaimed wood on credit.
Dr Furniture 4,000
Cr Accounts payable 4,000
June 3 The company paid $600 cash for a 12-month insurance policy on the reclaimed furniture.
Dr Prepaid insurance 600
Cr Cash 600
June 4 The company billed a customer $3,000 in fees earned from preparing a sustainability report.
Dr Accounts receivable 3,000
Cr Service revenue 3,000
June 12 The company paid $4,000 cash toward the payable from the June 2 furniture purchase.
Dr Accounts payable 4,000
Cr Cash 4,000
June 20 The company collected $3,000 cash for fees billed on June 4.
Dr Cash 3,000
Cr Accounts receivable 3,000
June 21 T.James invested an additional $10,000 cash in Sustain Company in exchange for common stock.
Dr Cash 10,000
Cr Common stock 10,000
June 30 The company received $5,000 cash from a client for sustainability services for the next 3 months.
Dr Cash 5,000
Cr Deferred revenue 5,000
E3-18 Comparing cash and accrual basis accounting and applying the revenue recognition principle Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays $1,000 in advance on March 3 to guarantee services for its party to be held on April 2. The sophomore class promises a minimum of $2,800 for filming its formal dance and actually pays cash of $4,100 on February 28 at the dance. Answer the following questions about the correct way to account for revenue under the accrual basis:
a. Considering the $1,000 paid by the freshman class, on what date was revenue recognized? Diod the recognition occur on the same date cash was received?
b. Considering the $4,100 paid by the sophomore class, on what date was revenue recognized'? Did the recognition occur on the same date cash was received?
Answer:
Momentous Occasions
a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue. This means that the recognition occurred on a separate date from when the cash was received.
b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received. This means that the recognition occurred on a separate date from when the cash was received.
Explanation:
Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.
The equity is owned by LP investors and MP in a ratio of 5 to 1. The total invested equity is $120. The outstanding mortgage balance at the end of 2019 is $240. The property sells for $400 net of all expenses at the end of 2019. The rules established for sales proceeds are, first pay the mortgage off, next return capital to equity partners and finally split all remaining proceeds 70 LP/30 MP. How much cash flow will the MP get from the sales transaction (do not put the $ sign in the answer)
Answer:
MP will get a cash flow of:
$128
Explanation:
a) Data and Calculations:
Equity shares
LP = 5
MP = 1
Ratio of equity = 5 : 1
Invested equity = $120
Share of invested equity:
LP = 5/6 * $120 = $100
MP = 1/6 * $120 = $20
Mortgage = $240
Property Sales = $400
Sales Proceeds Rules:
Property Sales = $400
Mortgage 240
Remaining 160
Equity share:
LP (100)
MP (20)
Balance 40
Sharing Ratio:
LP = 70% * $40 = $28
MP = 30% * $40 = $12
MP's cash flow:
Equity = $100
Balance Shared = $28
Total = $128
whats your purpose of living?
Answer:
you can you know the purpose of living when you know the meaning of living
Jacqul makes $35 an hour working as an accounting assistant. She works 40 hours each month.
Answer:
35x40=1,400
Explanation:
jacqul will make 1,400 dollars per month or 16,800 a year
Answer:
9800
Explanation:
35x40=1400
1400x7=9800
Which of the following statements are true? Explain.a. A lower allocation to the risky portfolio reduces the Sharpe (reward-to-volatility) ratio.b. The higher the borrowing rate, the lower the Sharpe ratios of levered portfolios.c. With a fixed risk-free rate, doubling the expected return and standard deviation of the risky portfolio will double the Sharpe ratio.d. Holding constant the risk premium of the risky portfolio, a higher risk-free rate will increase the Sharpe ratio of investments with a positive allocation to the risky asset.
Answer: b. The higher the borrowing rate, the lower the Sharpe ratios of levered portfolios
Explanation:
The formula for the Sharpe ratio = [tex]\frac{Required return on portfolio - Risk free return}{Standard deviation for the portfolio's excess return}[/tex]
With a levered portfolio, money has been borrowed.
Assuming the rate of the money borrowed is r then this rate will need to be subtracted from the required return such that the formula becomes;
= [tex]\frac{Required return on portfolio - borrowing rate - Risk free return}{Standard deviation for the portfolio's excess return}[/tex]
Notice now that as the borrowing rate rises, the numerator for the ratio will be smaller which would lead to a lower ratio when divided by the standard deviation.
Streamsong Credit Bank is offering 5.4 percent compounded daily on its savings accounts. Assume that you deposit $5,100 today. a. How much will you have in the account in 6 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.) b. How much will you have in the account in 12 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.) c. How much will you have in the account in 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.)
Answer & Explanation:
a. How much will you have in the account in 6 years?
The formula for Compound Interest is;
= Amount deposited ( 1 + rate)^no of periods
Rate is a yearly rate so daily rate is;
= 5.4%/365
No. of periods;
= 365 * 6
= 2,190 days
= 5,100 * ( 1 + 5.4%/365)^2,190
= $7,051.33
b. How much will you have in the account in 12 years?
No. of periods = 365 * 12
= 4,380 days
= 5,100 * ( 1 + 5.4%/365)^4,380
= $9,749.27
c. How much will you have in the account in 24 years?
No. of periods = 365 * 24
= 8,760 days
= 5,100 * ( 1 + 5.4%/365)^8,760
= $18,636.92
CAN SOMEONE HELP ME PLEASE WITH THE PICTURE ABOVE
Answer:
B
Explanation:
It will start expansion
Susan’s high school offers classes in which she can take a test and gain college credit.
ok thank you for you response I will contact the other workers to see what we can do
According to the offer, these classes are part of the advanced placement program. Thus, the correct option is (A).
A college-level course created for high school students is an Advance Placement (AP) course.
The College Board launched Advanced Placement in the United States and Canada. AP provides high school students with undergraduate university-level coursework and tests.
AP allows students to handle college-level work while still in high school, whether they learn online or in the classroom.
Therefore, the correct option is "A".
To know more about the advanced Placement, visit:
https://brainly.com/question/1193163
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This question is incomplete, the complete question is:
Susan’s high school offers classes in which she can take a test and gain college credit. These classes are part of the ____________________ program.
A. Advance Placement.
B. Advance High School.
C. International Baccalaureate Program
Use the below information to answer the following question.
Income Statement
For the Year
Net sales $631,000
COGS 442,220
Depreciation 28,100
EBIT $160,700
Interest 14,900
Taxable income $145,800
Taxes 49,600
Net income 96,200
Balance Sheet
Beginning of Year End of Year
Cash $ 38,200 $43,700
Accounts receivable91,400 86,150
Inventory 203,900 214,600
Net fixed assets 516,100 537,950
Total assets 849,600 $882,400
Accounts payable $136,100 104,300
Long-term debt 329,500 298,200
Common stock ($1 par value)75,000 82,000
Retained earnings 309,000 397,900
Total Liab. & Equity $849,600 882,400
What is the quick ratio at the end of the year?
How many days of sales are in receivables at year-end?
What is the price-sales ratio if the market price is $43.20 per share? (Use end-of-year values)?
What is debt-equity ratio at year-end?
What is the return on equity using year-end values?
What is the amount of the dividends paid during the year?
What is the amount of the cash flow from investment activity for the year?
What is the net working capital to total assets ratio at year-end?
How many dollars of sales are being generated from every dollar of net fixed assets? (Use year-end values)?
What is the times interest earned ratio for the year?
What is the net cash flow to stockholders for the year?
Answer:
Follows are the solution to the given point:
Explanation:
The formula for calculating the Quick Ratio:
[tex]\text{Quick Ratio} = \frac{\text{Quick Assets}}{\text{Current Liabilities}}[/tex]
[tex]= \frac{43700+86150}{104300}\\\\=\frac{ 129850}{104300} \\\\= 1.24[/tex]
[tex]\text{Sales days Receivable at end of year} = (\frac{\text{Account receivables at the end}}{\text{Gross sales by loan}} ) \times \text{number of days}[/tex] [tex]= \frac{86150}{631000} \times 365 \\\\ = 49.833 \\\\ = 50\ days[/tex]
[tex]\text{Sales price ratio} = \frac{\text{Sales per share price}}{\text{ Sales Share price}}[/tex]
[tex]=\frac{43.20}{\frac{63100}{82000}}\\\\ = \frac{43.20}{0.769}\\\\ = 5.61[/tex]
[tex]\text{total equity Debt} = \frac{ \text{Complete Liabilities}}{\text{Stockholders}}[/tex]
[tex]= \frac{882400}{(397900+82000)}\\\\ = \frac{882400}{(479,900)}\\\\ = \frac{882400}{(479,900)}\\\\= 1.838[/tex]
[tex]\text{Equity Return} = \frac{\text{Net Sales}}{\text{Equity of Shareholder}} \times 100[/tex]
[tex]= \frac{96200}{(82000+397900)} \times 100 \\\\ = \frac{96200}{(479900)} \times 100 \\\\= 0.2004 \times 100\\\\= 200.4 \ \%[/tex]
Dividends received throughout the year = Restored earnings opening + Net Sales -Closing of restored profits
[tex]= 309000 + 96200 - 397900 \\\\= 7300[/tex]
Time period is important in accounting. Companies need to report revenue and expenses on their income statement based on what they earned and incurred during the accounting period. Assume the company had invested $100,000 in an interest-bearing investment on September 1st of this year. The investment earns 6% interest, but the interest doesn't get paid out until the end of the first six months. What, if any, interest revenue should the company record on their December 31st year ending income statement of this year
Answer: $2,000
Explanation:
The question alludes to the Accrual principle of Accounting that states that companies need to report revenue and expenses on their income statement based on what they earned and incurred during the accounting period.
The investment is to earn 6% annually which means that every year it is to show returns of;
= 6% * 100,000
= $6,000
On a monthly basis therefore this should be;
= 6,000 / 12
= $500
They invested on September 1st which means that they would have been invested for 4 months by December 31.
The interest for the year is therefore;
= 4 * 500
= $2,000
In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in 2021. The deferred portion of the rent collected in 2021 was $50 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%. Suppose the deferred portion of the rent collected was $40 million at the end of 2022. Taxable income is $200 million. Prepare the appropriate journal entry to record income taxes in 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
Answer:
Journal Entries - Ryan Management (In millions)
Date Particulars and Explanation Debit Credit
31-Dec-22 Income tax expense $ 52.5
To Income tax payable $50.0
($200 * 25%)
To Deferred tax asset $2.5
[($50 - $40)*25%]
(To record income tax expense and reversal of DTA)
Perpetual Inventory Using LIFO Beginning inventory, purchases, and sales data for DVD players are as follows: November 1 Inventory 120 units at $39 10 Sale 90 units 15 Purchase 140 units at $40 20 Sale 110 units 24 Sale 45 units 30 Purchase 160 units at $43 The business maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.
Answer:
COGS and inventory balance under LIFO (last in, first out):
November 10 sale
COGS = 90 x $39 = $3,510inventory balance after sale = $1,170November 20 sale
COGS = 110 x $40 = $4,400inventory balance after sale = $2,370November 24 sale
COGS = 30 x $40 = $1,200COGS = 15 x $39 = $585total COGS = $1,785inventory balance after sale = $585When calculating costs under LIFO, we must use the cost of the last units purchased for determining cost of goods sold. This method is generally used when the price of the goods tends to increase during the period.
Sanchez Corporation Selected Financial Information 12/31/X2 12/31/X1 Cash $ 20,000 $ 25,000 Accounts receivable (net) 100,000 110,000 Inventories 190,000 155,000 Total current assets 310,000 290,000 Long-term assets 230,000 210,000 Current liabilities 200,000 190,000 Long-term liabilities 40,000 50,000 Shareholders' equity 300,000 260,000 Net income $ 40,000 Interest expense 10,000 Income tax expense 20,000 The debt to equity ratio for 20X2 is: Multiple Choice 0.80 0.44 0.67 0.13
Answer:
0.80
Explanation:
The computation of the debt to equity ratio is shown below:-
Total debt = Current Liabilities + Long - term liabilities
= $200,000 + $40,000
= $240,000
Total Equity = Shareholders’ equity = $300,000
Now,
Debt to equity ratio = Total Debt ÷ Total Equity
= $240,000 ÷ $300,000
= 0.80
How much would a person have to deposit now to be able to withdraw $550 at the end of each year for 20 years from an account that earns 11 percent?
$3.785 95
$4 379 83
54 739 95
$5.076.55
Answer: $4,379.83
Explanation:
Given the following details:
Periodic payment = $550
Interest rate = 11%
Number of periods = 20 years
Present Value (PV) = P[(1 - (1 + r)^-n) / r]
Where
P = periodic payment = $550
r = Interest rate = 11% = 0.11
n = number of periods = 20
PV = 550[(1 - (1 + 0.11)^-20) / 0.11]
PV = 550[(1 - (1.11)^-20) / 0.11]
PV = 550[(1 - 0.1240339) / 0.11]
PV = 550[0.8759660 / 0.11]
PV = 550(7.9633281)
PV = 4379.8304
PV = 4379.83
Which is not a part of the definition of economics?
A consumption
B production
C evaluation
D Distribution
Answer:
a
Explanation:
