Answer:
Copyright protection generally lasts for 70 years and protects the original expression of an idea, whether literary, artistic, commercial or otherwise. It is used to protect original works of authorship that are fixed in a tangible medium of expression.
Explanation:
Garret Company has provided the following selected information for the year ended December 31, 2019: Cash collected from customers was $784,000. Cash received from stockholders in exchange for common stock totaled $84,000. Cash paid to suppliers was $368,000. Cash paid to employees was $208,000. Cash to stockholders for dividends was $48,000. Cash received from sale of a building was $240,000. Cash paid for store rent was $34,000. Cash received for interest and dividends was $7,000. Cash paid for income taxes was $54,000. Based on the selected information provided, how much was Garret's cash flow from operating activities
Answer:
The amount Garret's cash flow from operating activities is $127,000.
Explanation:
The amount of Garret's cash flow from operating activities can be calculated as follows:
Garret Company
Computation of Cash Flow from Operating Activities
For the year ended December 31, 2019
Details $
Cash collected from customers 784,000
Cash paid to suppliers (368,000)
Cash paid to employees (208,000)
Cash paid for store rent (34,000)
Cash received for interest and dividends 7,000
Cash paid for income taxes (54,000)
Cash flow from operating activities 127,000
Therefore, the amount Garret's cash flow from operating activities is $127,000.
Floyd Industries stock has a beta of 1.25. The company just paid a dividend of $.40, and the dividends are expected to grow at 5 percent per year. The expected return on the market is 12 percent, and Treasury bills are yielding 5.0 percent. The most recent stock price for Floyd is $67. a. Calculate the cost of equity using the DDM method. (Round your answer to 2 decimal places. (e.g., 32.16)) DCF method % b. Calculate the cost of equity using the SML method.
Answer:
5.62%
13.75%
Explanation:
According to the DDM method,
the value of a stock = [dividend x ( 1 + growth rate)] / [cost of equity - growth rate]
67 = 0.4(1.05) / r - 0.05
multiply both sides of the equation by r -0.05
67(r - 0.05) = 0.42
divide both sides of the equation by 67
r - 0.05 = 0.006269
r = 0.0563
= 5.63%
b. the cost of equity using the capm method =
risk free rate of return + beta x ( expected return - risk free return)
5% + 1.25 x (12 - 5) = 13.75%
Partial adjusted trial balance for Pina Colada Corp. at December 31, 2017, includes the following accounts: Retained Earnings $16,700, Dividends $4,700, Service Revenue $36,300, Salaries and Wages Expense $15,000, Insurance Expense S1,980, Rent Expense $4,000, Supplies Expense $1,590, and Depreciation Expense丰900. The balance in Retained Earnings is the balance as of January 1.
Prepare a retained earnings statement for the year assuming net income is $10,400. (List items that increase retained earnings first.)
Answer:
See below
Explanation:
Pina Colada Corp.
Retained earnings statement for the year
Retained earnings January 1 [$16,700 + $4,700 - $10,400] $11,000
Add: Net income $10,400
Less: Dividends $4,700
Retained earnings, December 31 $16,700
Therefore, ending retained earnings is $16,700
Step 8 of 8
You've got the hang of it. Your
goal now is to adjust prices for
the remaining sections. Try to
find the highest price that will
generate demand for each
section. Change some prices,
then use the Start button to run
through a game. Keep doing this
until you meet the goal below.
Check your progress using
Reports >>Financials. Good luck!
Goal: Profit for a game of
$415,000 or greater.
Answer:
The price per game should be $2,075.
Explanation:
The demand for games is fluctuating. Minimum demand for the game is 100 where maximum demand is 200. If the customers likes the new game its demand will be high and the price should be set so that supply and demand function is in equilibrium. The price for each game should be at least $2,075, if total profit for the game is $415,000 or more.
Krumbly Corporation uses the FIFO method in its process costing system. At the beginning of the month, Department D's work in process inventory contained 2,000 units. These units were 100% complete with respect to materials and 40% complete with respect to conversion costs, with a total cost at that point of $13,600. During the month, conversion costs amounted to $8 per equivalent unit. If all 2,000 units are fully complete by the end of the month and transferred out of the department, the total cost of the 2,000 units transferred out will be closest to:
Answer:
the total cost is $23,200
Explanation:
The computation of the total cost of the 2,000 units transferred is as follows:
= Total cost at that point + other cost
= $13,600 + (2,000 × (1 - 0.40) × $8)
= $13,600 + 2,000 × 60% × $8
= $13,600 + $9,600
= $23,200
hence, the total cost is $23,200
What are the factors of production? Is one factor more important than the others? If so, which one? Why?
Answer:
No economic activity can happen without all three of them. However, different factors will be more or less important to different economic activities. For example, if one is engaged in subsistence farming, land is more important than the other factors. Labor and capital are important, but land is irreplaceable
Brad could no longer stand the smell emanating from his neighbor Clarence's compost heap that grew more odorous as the summer progressed. Brad brought an action against Clarence under _____.
nuisance
intentional infliction of emotional distress
assault
negligence
Answer:
Nuisance
Explanation:
I took the test on egde 2021
Ann has 3/4 as many stickers as Brenda. Brenda has 2/5
as many stickers as Corrine
a) Find the ratio of the number of stickers Ann has to the number of stickers Corrine has
b) What fraction of the number of stickers Ann has is the number of stickers
Cornine has?
Answer:
A) 3:10
B) 3/10
Explanation:
A) Let the number of stickers that Corrine has be x.
We are told that Brenda has 2/5
as many stickers as Corrine.
Thus;
Brenda has (2/5)x stickers
Also, we are told that Ann has 3/4 as many stickers as Brenda.
Thus;
Ann has: ¾ × (2/5)x stickers = 3x/10 stickers
Thus;
ratio of the number of stickers Ann has to the number of stickers Corrine has = (3x/10) : x. This gives; 3:10
B) fraction of stickers Anne has to the number that Corrine has is 3/10
Stengel Co. enters into a 3-year contract to perform maintenance service for Laplante Inc. Laplante promises to pay $100,000 at the beginning of each year (the standalone selling price of the service at contract inception is $100,000 per year). At the end of the second year, the contract is modified and the fee for the third year of service, which reflects a reduced menu of maintenance services to be performed at Laplante locations, is reduced to $80,000 (the standalone selling price of the services at the beginning of the third year is $80,000 per year). Briefly describe the accounting for this contract modification.
Answer:
Stengel Co. is in a contract to perform maintenance service for Laplante Inc. The revenue accounted for the first 2 years will be $100,000 per year, which when received in cash, will be credited to Laplante's account in the books of Stengel. However, in the third year, with the modification of the contract revenue, the disclosure will be done for $100,000 only, with a debit to Contract.
Modification Costs, aggregating $ 20,000, which anyways needs to be expensed off. The amount to be received from Laplante Inc. at the end of the third year in cash, which will be credited to their account, will total $80,000 only.
ProTech began business at the start of the current year. The company planned to produce 40,000 units, and actual production conformed to expectations. Sales totaled 37,000 units at $42 each. Costs incurred were: Variable manufacturing overhead per unit $ 19 Fixed manufacturing overhead 240,000 Variable selling and administrative cost per unit 7 Fixed selling and administrative cost per unit 140,000 If there were no variances, the company's variable-costing income would be: Multiple Choice $212,000. $155,000. $240,500. $592,000. None of the answers is correct.
Answer:
C
Explanation:
Mortensen Industries, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 5,000 Total equivalent units of conversion: 4,400 Units started and completed during the period: 3,500 On the basis of this information, the ending work-in-process inventory's stage of completion is: Multiple Choice 60%. 40%. 80%. 70%. some other percentage not listed.
Answer: 60%
Explanation:
Find the ending work in process.
Materials are complete at inception so the Equivalent units of Materials represent the total units.
Ending WIP will therefore be:
= Materials EUP - Units started and completed
= 5,000 - 3,500
= 1,500 units
Stage of completion is based on Conversion.
Conversion EUP = Total started and completed + (x% * Closing WIP)
4,400 = 3,500 + (x% * 1,500)
4,400 = 3,500 + 15x
15x = 4,400 - 3,500
15x = 900
x = 900/15
x = 60%
Conversion is 60% complete so this is the stage of completion.
which of the following items are likely to be normal goods for a tropical customer? which is likely to be inferior goods?
a) Expensive perfume
b) paper plates
c) Secondhand clothing
d). Overseas trips
Why do managers suggest that ignoring all cash flows following the assigned payback period is not a major flaw of the payback method of capital budgeting analysis? Payback is never used in real practice so it makes no difference how academics apply the method in their studies If the cash flows after the required payback period are significant, managers will use their discretion to override the payback rule. All cash flows after the first two years are highly inaccurate so including them lessens the reliability of the resulting decision. All cash flows after the assigned payback period are relatively worthless in today’s dollars so ignoring them has no consequence. The results of including the cash flows after the required payback period rarely have any effect on the accept/reject decision.v
Answer:
The answer is "choice B".
Explanation:
Please find the numbering of the question in the attachment file.
Whenever the cash flows become substantial after the required period, managers would use their option to surpass the pay-back rule, as well as the managers, recommend that ignoring all investment returns after a period of pay-back would not be an important component in the capital-budget evaluation repayment process, that's why the choice "B" is correct.
The predetermined overhead allocation rate is calculated by dividing ________. A) the estimated overhead costs by total estimated quantity of the overhead allocation base B) the total estimated overhead costs by total number of days in a year C) the estimated amount of cost driver by actual total overhead costs D) the actual overhead costs by actual amount of the cost driver or allocation base
A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?
$220,000
Explanation:
Calculation for the company's break-even point in dollar sales
Using this formula
Break-Even point in dollars sales= Fixed Costs ÷ Contribution Margin
Let plug in the formula
Break-Even point in dollars sales=$96,800/44%
Break-Even point in dollars sales=$220,000
Therefore the company's break-even point in dollar sales will be $220,000.
Anna is a forensic scientist who still uses the methods used by Dr. Leone Lattes. How is this MOST likely demonstrated in Anna’s work?
a) She uses blood types to help solve crimes.
b) She compares bullets to types of guns.
c) She studies the effect of poisons on animals.
d) She looks at fingerprints using a microscope.
Answer:
She uses blood types to help solve crimes.
Explanation:
Once doctors differentiated blood into distinct types, they could use that information to safely perform blood transfusions. Furthermore, forensic scientists can use that information to exculpate people suspected of some types of crimes, and they can use it to help determine the paternity of children.
Also, I took the quiz :)
Anna is a forensic scientist who still uses the methods used by Dr. Leone Lattes. Anna uses blood types to help solve crimes This is most likely demonstrated in Anna’s work. Option (a) is correct.
What do you mean by Method?Method refers to an approach to learning, an investigation, a way of carrying out that investigation, or a system.
As defined by the legal requirements of admissible evidence and criminal procedure, forensic science, often known as criminalistics, is the application of science to criminal and civil laws, primarily—on the criminal side—during criminal inquiry. DNA analysis, fingerprint analysis, blood stain pattern analysis, firearms examination and ballistics, tool mark analysis, serology, toxicology, hair and fiber analysis, entomology, questioned documents, anthropology, odontology, pathology, epidemiology, footwear and tire tread analysis, drug chemistry, paint and glass analysis, and digital audio, video, and photo analysis are all included in the broad field of forensic science.
Therefore, Option (a) is correct. She uses blood types to help solve crimes.
Learn more about Method, here;
https://brainly.com/question/14560322
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Jabari Manufacturing, a widgets manufacturing company, divides its production operations into three processes—Department 1, Department 2, and Department 3. The company uses a process costing system. Jabari incurred the following costs during the year to produce 4800 units: Department 1 $17,000 Department 2 $7000 Department 3 $10,000 If Jabari could sell only 3100 units during the year, what will be the cost per unit of widget produced? (Round your answer to the nearest cent.) A) $10.97 B) $5.00 C) $7.08 D) $3.54
Answer:
C)$7.08
Explanation:
Calculation for what will be the cost per unit of widget produced
First step is to calculate the Total cost of production
Total cost of production= $17,000 + $7,000 + $10,000
Total cost of production= $34,000
Now let calculate the Cost per unit of widget produced
Cost per unit of widget produced= $34,000/4,800 units
Cost per unit of widget produced=$7.08
Therefore what will be the cost per unit of widget produced is $7.08
The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet.
She has studied three locations. Each would have the same labor and materials costs (food, serving
containers, napkins, etc.) of $1.76 per sandwich. Sandwiches sell for $2.65 each in all locations.
Rent and equipment costs would be $5,000 per month for location A, $5,500 per month for location B, and $5,800 per month for location C.
a. Determine the volume necessary at each location to realize a monthly profit of $10,000.
b. If expected sales at A, B, and C are 21,000 per month, 22,000 per month, and 23,000 per
month, respectively, which location would yield the greatest profits?
Answer:
Genuine Subs, Inc.
a. Volume necessary at each location to realize a monthly profit of $10,000:
Locations A B C
Sales volume = 16,854 17,416 17,753
b. Location C yields the greatest profits.
Explanation:
a) Data and Calculations:
Locations A B C
Sales per unit $2.65 $2.65 $2.65
Variable cost 1.76 1.76 1.76
Contribution $0.89 $0.89 $0.89
Fixed costs:
Rent & equipment
cost $5,000 $5,500 $5,800
Target profit = 10,000 10,000 10,000
Sales volume = (Fixed cost + Target profit)/Contribution per unit
= $15,000 $15,500 $15,800
Contribution $0.89 $0.89 $0.89
Sales volume = 16,854 17,416 17,753
Location yielding the greatest profits:
Locations A B C
Contribution $0.89 $0.89 $0.89
Expected sales units 21,000 22,000 23,000
Contribution margin $18,690 $19,580 $20,400
Rent & equipment
cost $5,000 $5,500 $5,800
Profits $13,690 $14,080 $14,600
Chapter 5 Questions Answer the following items and upload your responses to the appropriate drop box by the due date. 1. Orange Sun Manufacturing, Inc. produces high quality sunglasses which are marketed and sold under various brand names. The production engineers have determined that each line employee accounts for approximately 10 units per labor hour. If employees work an average of 2000 hours per year, and projected sales for 2017 are 9.5 million units, how many line employees will we need for the coming year
Answer:
475 employees
Explanation:
Calculation for how many line employees will we need for the coming year
Line employees needed =9,500,000/(10 units x 2,000 hours let year )
Line employees needed= 9,500,000/20,000
Line employees needed= 475 employees
Therefore how many line employees will we need for the coming year is 475 employees
Why do economists love graphs?
Answer:
Graphs show the relationship between 2 variables. A graph is used to condense numeral information making patterns clearer. Using graphs makes data readable for economists.
A production department's output for the most recent month consisted of 14,000 units completed and transferred to the next stage of production and 14,000 units in ending Work in Process inventory. The units in ending Work in Process inventory were 70% complete with respect to both direct materials and conversion costs. There were 1,800 units in beginning Work in Process inventory, and they were 90% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.
Answer:
Materials = 19,600 units
Conversion Costs = 19,600 units
Explanation:
It is important to note that the company uses the weighted average method.
This means we are only interested in the equivalent units of units completed and transferred and units in ending work in process
The equivalent units of production for the month, assuming the company uses the weighted average method :
Materials = 14,000 x 100 % + 14,000 x 70% = 19,600 units
Conversion Costs = 14,000 x 100 % + 14,000 x 70% = 19,600 units
Yolanda and Mack are negotiating a contract deal for sale of goods. Yolanda offers Mack $2 per pound for Mack’s peanuts. Mack wants to sell them for $2.50. Under UCC, what happens when Mack asks for the higher amount, assuming both parties are merchants?
Mack’s offer becomes a counteroffer in this transaction, and Yolanda is the offeree.
Mack’s change of terms is incorporated into the standing deal.
Mack cannot make a new offer under UCC – he can only accept or reject Yolanda’s standing offer.
Mack’s offer negates the terms of the contract, and a new contract must be drawn up when both parties can meet.
Answer: D
Explanation:
Nelson Company experienced the following transactions during 2016, its first year in operation.
1. Issued $6,600 of common stock to stockholders.
2. Provided $2,900 of services on account.
3. Paid $1,750 cash for operating expenses.
4. Collected $2,200 of cash from accounts receivable.
5. Paid a $130 cash dividend to stockholders.
35.
The amount of net income recognized on Nelson Company's 2016 income statement is:_______.
a. $1,020.
b. $700.
c. $830.
d. $1,150.
Answer:
d. $1,150
Explanation:
Calculation for what The amount of net income recognized on Nelson Company's 2016 income statement is:
Using this formula
Net income = Service Revenue - Operating Expenses
Let plug in the formula
Net income= $2,900-$1,750
Net income=$1,150
Therefore The amount of net income recognized on Nelson Company's 2016 income statement is:$1,150
On December 31, 20X5, Paris Corporation acquired 60 percent of Sanlo Company's common stock for $180,000. At that date, the fair value of the noncontrolling interest was $120,000. Of the $45,000 differential, $5,000 related to the increased value of Sanlo's inventory, $15,000 related to the increased value of its land, and $10,000 related to the increased value of its equipment that had a remaining life of five years from the date of combination. Sanlo sold all inventory it held at the end of 20X5 during 20X6. The land to which the differential related was also sold during 20X6 for a large gain. In 20X6, Sanlo reported net income of $40,000 but paid no dividends. Paris accounts for its investment in Sanlo using the equity method.
Required information
1. Based on the preceding information, the amount of goodwill reported in the consolidated financial statements prepared immediately after the combination is:
a. $9,000.
b. $15,000.
c. $27,000.
d. $45,000.
2. Based on the preceding information, what amount of differential would Paris amortize during 20X6 in its equity method journal entries?
a. $13,200.
b. $15,000.
c. $22,000.
d. $30,000.
Answer:
1. b. $15,000
2. a. $13,200
Explanation:
a. Fair Value of Consideration $180,000
Non Controlling Interest $120,000
Differential in value of Sanlo $45,000
Good will = $15,000
b. Value of Equipment = $10,000 / 5 = $2,000
$2,000 * 60% = $1,200
Value of land = $15,000 * 60% = $9,000
Value of Sanlo's Inventory = $5,000 * 60% = $3,000
Total value amortize using equity method is $13,200
Hi I need help with this question. I don't know what I'm doing so I hope you can explain how to solve it. Thank you in advance.
The following information was taken from the records of Rectangle Corporation for the year ended December 31, 2019. Advertising expense $120,000 Income tax expense 78,000 Accounts payable 80,700 Dividends paid 90,000 Retained earnings (Jan. 1, 2016) 347,160 Consulting fees revenue 600,000 Rent expense 70,200 Supplies expense 101,400 The net income reported by Circle Corporation for the year ended December 31, 2019 was:
Answer:
$230,400
Explanation:
Rectangle Corporation
Income Statement for the year ended December 31, 2019
$ $
Consulting fees revenue 600,000
Less Expenses :
Advertising expense 120,000
Rent expense 70,200
Supplies expense 101,400
Income tax expense 78,000 (369,600)
Net Income 230,400
Conclusion :
The net income reported by Circle Corporation for the year ended December 31, 2019 was $230,400
"When the price of a product rises, consumers purchase less of that product." This statement describes:
Law of Demand
Law of Supply
An inferior good
Market Equilibrium
Answer:
ummmmm hold
Explanation:
Novak Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 34,500 $ 21,000 Cost of goods purchased 177,000 155,000 Cost of goods available for sale 211,500 176,000 Less: Ending inventory 36,000 34,500 Cost of goods sold $175,500 $141,500 Novak made two errors: 1. 2021 ending inventory was overstated by $3,450. 2. 2022 ending inventory was understated by $6,350. Compute the correct cost of goods sold for each year.
Answer: See explanation
Explanation:
The correct cost of goods sold for 2021 will be:
= Beginning inventory + Cost of goods bought - Correct ending inventory
= 34500 + 177000 - 32550
= 178950
The correct cost of goods sold for 2022 will be:
= Beginning inventory + Cost of goods bought - Correct ending inventory
= 32550 + 155000 - 40850
= 146700
Note:
Correct ending inventory for 2021 will be: = Ending inventory - Overstated value
= 36000 - 3450
= 32550
Correct ending inventory for 2021 will be: = Ending inventory + Understated value
= 34500 + 6350
= 40850
Magic Realm, Inc., has developed a new fantasy board game. The company sold 8,400 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $84,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 10,416 games next year (an increase of 2,016 games, or 24%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year
Answer:
1-a. Net operating income = $84,000
1-b. Degree of operating leverage = 2.00
2-a. Expected percentage increase in net operating income for next year = 48%
2-b. Expected amount of net operating income for next year = $124,320
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Magic Realm, Inc., has developed a new fantasy board game. The company sold 8,400 games last year at a selling price of $70 per game. Fixed expenses associated with the game total $84,000 per year, and variable expenses are $50 per game. Production of the game is entrusted to a printing contractor. Variable expenses consist mostly of payments to this contractor. Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 10,416 games next year (an increase of 2,016 games, or 24%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year? b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
The explanation of the answers is now given as follows:
1-a. Prepare a contribution format income statement for the game last year.
The contribution format income statement for the game last year can be prepared as follows:
Magic Realm, Inc.
Contribution Income Statement For the Game
For Last Year
Particulars Amount ($) Per Unit ($)
Sales (8,400 * $70) 588,000 70
Variable cost (8,400 * $50) (420,000) (50)
Contribution margin 168,000 20
Fixed cost (84,000)
Net operating income 84,000
1-b. Compute the degree of operating leverage.
Degree of operating leverage = Contribution margin / Net operating income = $168,000 / $84,000 = 2.00
2-a. What is the expected percentage increase in net operating income for next year?
This can be calculated as follows:
Expected percentage increase in net operating income for next year = Degree of operating leverage * Expected percentage increase in sales = 2 * 24% = 48%
2-b. What is the expected amount of net operating income for next year? (Do not prepare an income statement; use the degree of operating leverage to compute your answer.)
Expected amount of net operating income for next year = Last year's net operating income + (Last year's net operating income * Expected percentage increase in net operating income for next year) = $84,000 + ($84,000 * 48%) = $84,000 + $40,320 = $124,320
increases in total factor productivity (TFP) can generate sustained increases in per capita output
growth because increasing
TFP does not cause diminishing returns
TFP lowers the capital stock
TFP lowers human capital
TFP increases the population
Question 9
1 pts
Between 1980 and 2017,
both China and India experienced increased standards of living
India experienced increased standards of living but China did not
Neither India nor China experienced increased standards of living
China experienced increased standards of living but India did not
Answer:
TFP does not cause diminishing returnsboth China and India experienced increased standards of livingExplanation:
Total Factor Productivity (TFP) shows how much the economy is growing in excess of the inputs of labor and capital put into the productivity of the economy. It can therefore not be explained by the amount of inputs put into production because it is the part of productivity that is more than the productivity that should have been seen given the inputs put in.
Increasing it does not cause diminishing returns which means it can lead to a sustained increase in per capita output.
Both China and India have experienced growth in the living standards of their citizens from 1980 to 2017 with both of them seeing millions being pulled from poverty. China for instance, managed to reduce the number of poor people in the country from 400+ million in 1981 to 70 million in 2017.
