Answer:
S/n General Journal Debit Credit
1. Cash $450,000
Common Stock $450,000
(Issued Common stock $5 par value)
2. Furniture and Fixture $80,000
Cash $32,000
Note Payable $48,000
3. Inventory $180,000
Accounts Payable $180,000
4. Accounts receivable $306,000
Sales $306,000
Cost of goods sold $153,000
Inventory $153,000
5. Rent Expense $4,000
Cash $4,000
6. Prepaid Expense $2,160
Cash $2,160
7. Accounts payable $13,050
Cash $13,050
8. Cash $61,200
Accounts Receivables $61,200
9. Dividend $4,500
Cash $4,500
10. Depreciation Expenses $1,600
Acc. Dep. Furniture & fixtures $1,600
11. Insurance Expense $180 (2,160/12)
Prepaid Expense $180
a. Suppose that when the price of peanut butter rises from $2 to $3 per jar, the quantity of jelly purchased falls from 20 million jars to 15 million jars. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The cross-price elasticity of demand between peanut butter and jelly using the mid-point method is:_______ .
The goods are:_______ .
b. Suppose that when the price of peanut butter rises from $2 to $3 per jar, the quantity of jelly purchased increase from 15 million jars to 20 million jars. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The cross-price elasticity of demand between peanut butter and jelly using the mid-point method is:_______ .
Answer:
a) cross price elasticity = {(QJ2 - QJ1) / [(QJ2 + QJ1)/2]} / {(PB2 - PB1) / [(PB2 + PB1)/2]}
cross price elasticity = {(15 - 20) / [(15 + 20)/2]} / {(3 - 2) / [(3 + 2)/2]} = (-5/17.5) / (1/2.5) = -0.71 complements
b) cross price elasticity = {(QJ2 - QJ1) / [(QJ2 + QJ1)/2]} / {(PB2 - PB1) / [(PB2 + PB1)/2]}
cross price elasticity = {(20 - 15) / [(20 + 15)/2]} / {(3 - 2) / [(3 + 2)/2]} = (5/17.5) / (1/2.5) = 0.71 substitutes
In 2009, Khalid was in an automobile accident and suffered physical injuries. The accident was caused by Rashad's negligence. Khalid threatened to file a lawsuit against Amber Trucking Company, Rashad's employer, claiming $50,000 for pain and suffering, $25,000 for loss of income, and $100,000 in punitive damages. Amber's insurance company will not pay punitive damages; therefore, Amber has offered to settle the case for $120,000 for pain and suffering, $25,000 for loss of income, and nothing for punitive damages. Khalid is in the 35% marginal tax bracket. What is the after-tax difference to Khalid between Khalid's original claim and Amber's offer
Answer:
$5,000
Explanation:
Amber offer = 120,000 + 25,000 = $145,000
Original claim = ($50,000 + $25,000) + [$100,000 × (1 - 0.35) = $140,000
Difference = $145,000 - $140,000 = $5,000
So, the after-tax difference to Khalid between Khalid's original claim and Amber's offer is $5,000
Not yet answered Marked out of 1.00 Flag question The accounting records of Slattery Corporation, a small manufacturing company, show the following balances for the fiscal year ending December 31, 2019: Sales revenue $3,425,000 Selling expense $782,000 Research and development 96,400 Gain on sale of bonds 20,300 Interest income 18,400 Cost of goods sold 1,611,000 Restructuring costs 112,000 General and administrative expense 585,700 Interest expense 32,000
The restructuring costs were incurred as a result of one-time changes in raw materials management. Slattery prepares multiple-step income statements. Use 25% as the tax rate.
Slattery Corporation's Net income for 2019 equals_______.
Select one:
a. $267,450
b. $334,725
c. $262,425
d. $183,450
e. $244,600
Answer:
The correct option is d. $183,450.
Explanation:
The multiple-step income statement can be described as an income statement that shows gross profit which is net sales revenue minus the cost of goods sold, and separates an organization's operating revenues and operating expenses from its nonoperating revenues, nonoperating expenses, gains, and losses.
The multiple-step income statement is different from a single-step income statement which only employs just one equation to determine profits by simply deducting total revenue from total expenses.
Slattery Corporation's Net income for 2019 can be determined by preparing its Multi-Step Income Statement for 2019 as follows:
Slattery Corporation
Multi-Step Income Statement
For the Year Ended December 31, 2019
Particulars $ $
Sales revenue 3,425,000
Cost of goods sold (1,611,000)
Gross profit 1,814,000
Operating expenses:
Selling expense (782,000)
General and administrative expense (585,700)
Total operating expenses (1,367,700)
Operating income 446,300
Other expenses and income:
Research and development (96,400)
Gain on sale of bonds 20,300
Interest income 18,400
Restructuring costs (112,000)
Interest expense (32,000)
Total other expenses and income (201,700)
Income before tax 244,600
Tax (Tax rate * Income before tax) 61,150
Net income 183,450
Therefore, the correct option is d. $183,450.
Assume that on July 1, Jerome, Inc., paid $100,000 to buy Potter's 8 percent, two-year bonds with a $100,000 par value. The bonds pay interest semiannually on December 31 and June 30. Jerome intends to hold the bonds until they mature. Complete the necessary December 31 entry to record.
Answer:
Dr Potter's 8% Bonds 100000
Cr Cash 100000
Dr Cash 4000
Cr Interest from Bonds 4000
Explanation:
Preparation of the journal entry to Complete the necessary December 31 entry to record
July, 1
Dr Potter's 8% Bonds 100000
Cr Cash 100000
(Being 8% Bonds purchased)
December, 31
Dr Cash 4000
Cr Interest from Bonds 4000
(100,000*8%*1/2)
(Being Interest received on 8% Bonds)
five difference between market and entrepreneurship
Answer:
Entrepreneurship refers to the concept of managing a business in order to make profit while taking various risk. while Market is a place where the trading of goods and money is happening.
Entrepreneurship is the concept of running a business in order to profit while incurring numerous risks. The market is a location where things and money are traded.
What is entrepreneurship?
The term “entrepreneurship” refers to the person who launches a new business at their own risk and profit basis. The starting up of a new business with a new idea and logic is called entrepreneurship. The entrepreneur's main motive is to set up a business to generate employment.
The main difference between of the entrepreneurship and the market. The entrepreneurship refers to the new business are the started as the profit earning basis. There is the market was the based on the exchange, the commodities are the demand and the supply based.
As a result, the difference between the entrepreneurship and the market.
Learn more about on entrepreneurship, here:
https://brainly.com/question/18203575
#SPJ2
What is the purpose of professional communication?
Answer:
By mastering professional communication, the potential for misunderstandings occurring can be minimised. When you work in a team, you need to be able to regularly communicate with others. You need to listen to other people's ideas, whilst being able to clearly and effectively communicate your own.
Purposes:
The five purposes for communication are to inform, imagine, influence, meet social expectations and express feelings.
The purpose of professional communication is to convey information and ideas effectively and appropriately in a business or work setting, with the goal of achieving specific objectives and building positive relationships. It involves clear and concise expression, active listening, and the use of appropriate language and tone.
What is the professional communication?Professional communication is the exchange of information and ideas in a business or work setting, typically between colleagues, clients, customers, or other stakeholders.
It involves using appropriate language, tone, and nonverbal cues to convey messages effectively and achieve specific goals, such as building relationships, solving problems, making decisions, or completing tasks.
Professional communication can take many forms, including oral presentations, written reports, emails, memos, video conferences, and more, and it is an essential skill for success in many careers and industries.
Learn more about professional communication here:
https://brainly.com/question/1433860
#SPJ3
Current Attempt in Progress
Shown below are comparative balance sheets for Buffalo Industries.
Buffalo Industries Comparative Balance Sheets December 31
Assets 2022 2021
Cash $ 183,600 $59.400
Accounts receivable 237,600 205,200
Inventory 450,900 10,300
Land 216,000 270,000
Equipment 702,000 540,000
Accumulated depreciation-equipment (178,200) (86,400)
Total $1,611,900 $1.498,500
Liabilities and Stockholders' Equity
Accounts payable $ 105,300 $ 116,100
Bonds payable 405,000 540,000
Common stock ($1 par) 583,200 469,800
Retained earnings 518,400 372,600
Total $1,611,900 $1498.500
Additional Information
1. Net income for 2022 was $251,100.
2. Depreciation expense was $91,800.
3. Cash dividends of $105,300 were declared and paid.
4. Bonds payable amounting to $135,000 were redeemed for cash $135,000
5. Common stock was issued for $113,400 cash
6. No equipment was sold during 2022
7. Land was sold for its book value.
Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with either d ignes. -45,000 Buffalo Industries Statement of Cash Flows Adjustments to reconcile
Answer:
Net Increase in cash = $124,200
Explanation:
Note: The correct value for Year 2021 inventory is $510,300 not $10,300.
Also note: See the attached excel file for the statement of cash flows for 2022.
In the attached excel file, the following workings are used:
Workings:
w.1: Increase in accounts receivable = Account receivable in 2022 - Account receivable in 2021 = $237,600 - $205,200 = $32,400
w.2: Decrease in inventory = Inventory in 2022 - Inventory in 2021 = $450,900 - $510,300 = -$59,400
w.3: Decrease in accounts payable = Accounts receivable 2022 - Accounts receivable 2021 = $105,300 - $116,100 = -$10,800
w.4: Disposal of land = Land in 2021 - Land in 2022 = $270,000 - $216,000 = $54,000
w.5: Purchase of equipment = Equipment in 2022 - Equipment in 2021 = $702,000 - $540,000 = $162,000
A company's income statement showed the following: net income, $115,000; depreciation expense, $30,500; and gain on sale of plant assets, $4,500. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $9,500; merchandise inventory increased $18,500; prepaid expenses increased $6,300; accounts payable increased $3,500. Calculate the net cash provided or used by operating activities.
Answer:
$129,200
Explanation:
Cash flow from Operating activities
net income, $115,000
adjust for non cash items :
depreciation expense, $30,500
gain on sale of plant assets, ($4,500)
adjust for changes in working capital :
decrease in accounts receivable $9,500
increase in merchandise inventory ($18,500)
increase in prepaid expenses ($6,300)
increase in accounts payable $3,500
Cash flow from Operating Activities $129,200
Various financial data for SunPath Manufacturing for 2019 and 2020 follow. 2019 2020 Output: Sales $ 300,000 $ 330,000 Inputs: Labor 40,000 43,000 Raw Materials 45,000 51,000 Energy 10,000 9,000 Capital Employed 250,000 262,000 Other 2,000 6,000 What is the percentage change in the energy partial productivity measure for SunPath between 2019 and 2020
Answer:
22.20%
Explanation:
Energy Productivity Ratio 2019 = 300,000 / 10,000 = 30
Energy Productivity Ratio 2020 = 330,000 / 9,000 = 36.66
The percentage change = (36.66-30)/30 * 100
The percentage change = 0.222 * 100
The percentage change = 22.20%
So, the percentage change in the energy partial productivity measure for SunPath between 2019 and 2020 is 22.20%
An alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at i = 8% per year is closest to:___.
a) $190.820.
b) $122.280.
c) $127.460.
d) $132.040.
Answer:
A
Explanation:
Present value of a perpetuality = amount / interest rate
= $40,000 / 0.08 = $500,000
Let D denote denote denotions
[tex]D + \frac{D}{1 + 0.8} + \frac{D}{1.08^{2} } = $500,000[/tex]
D = $190.820.
Leading is more important for the highest-level manager than planning
How can emotions affect attitudes and behaviour at workplace
Emotions shape an individual's belief about the value of a job, a company, or a team. Emotions also affect behaviors at work. Research shows that individuals within your own inner circle are better able to recognize and understand your emotions.
A large technology Company decides to create an entrepreneurship friendly space, where small enterprises can operate in close proximity to one another. To create this space, which will be called Zone Forty-Two, the Company will construct office space, which will be rented to tenants for free. The Company is considering two start-up firms, B Enterprises (a business software producer) and M Enterprises (a medical software producer). Both firms are currently located in different small towns of California, where they work out of their homes hence pay no rent. The sales volume for a firm if it locates at Zone Forty-Two depends on whether the other firm is also present. These sales volumes, along with the firms’ sales at their current home locations, are presented in Table 1.
table 1 home- town locations zone forty-two(alone) zone forty-two(with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
Give an intuitive explanation why the sales figures are in the last column of Table 1 differ from the first two columns of the table. Hint: Elaborate on different types of economies that are likely to benefit firms locating next to each other in Zone Forty-Two.
Answer:
Zone-Forty-Two
Types of Economies Benefiting Firms Locating Next to Each Other:
Basically, internal and external economies of scale result from firms locating next to one another. While internal economies of scale are specific to a firm because they are internally generated savings, external economies of scale bring about larger changes outside the firm so that all the firms that are located next to one another benefit.
For example, when firms locate next to each other, there is increased procurement management, availability of specialized managers, availability of financial sources, and market improvement. These are internally-focused economies.
On the other hand, the external benefits that come from agglomeration of firms include the availability of common infrastructure, supply chain, innovation and ideas, and ability to lobby the authorities.
As a result of these economies or benefits, firms b and m enterprises are able to generate more increased sales as they locate close to each other at Zone Forty-Two than they could generate while they were located at their home-towns or alone at Zone Forty-Two.
Explanation:
a) Data and Calculations:
Firms' Sales
Firms Hometown Zone forty-two Zone forty-two
locations (alone) (with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
These economies resulting from proximate locations of firms include the growth of technical, marketing, commercial, financial benefits, and some network effects. Therefore, it is always interesting to study how firms grow more as they compete and learn from one another than they do when they dominate their individual hometown markets.
Do you believe that the advantages accrued from specialization are lost or diminished when individuals from different specialties are put together on a team? Discuss.
Answer:
Regarding the question of specialization benefits being lost or reduced when people are put together from various specialties, I believe that NO will not diminish the effectiveness of the group. Specialization of work activities is the degree to which duties in an organization are broken down.
Explanation:
Data concerning Kardas Corporation's single product appear below: Per Unit Percent of Sales Selling price $ 140 100% Variable expenses 28 20% Contribution margin $ 112 80% The company is currently selling 8,000 units per month. Fixed expenses are $719,000 per month. The marketing manager believes that a $20,000 increase in the monthly advertising budget would result in a 180 unit increase in monthly sales. What should be the overall effect on the company's monthly net operating income of this change
Answer:
If the marketing increase by $20,000; the net income will increase by $160.
Explanation:
First, we need to calculate the current net income:
Net income= total contribution margin - fixed costs
Net income= 8,000*112 - 719,000
Net income= $177,000
Now, the net income with the changes incorporated:
New net income= 8,180*112 - (719,000 + 20,000)
New net income= $177,160
If the marketing increase by $20,000; the net income will increase by $160.
You borrow $6,230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment?a. $115.26b. $88.74c. $113.78d. $120.44e. $89.29
Answer:
orrow $6230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interes… ... of interest of 6 percent.
Explanation:
Daria plans to retire in 20 years and wants to know how much she will need to have in her account when she retires. She wants to be able to withdraw $5,000 per month for 25 years of retirement, and she expects her account to earn a nominal rate of 9 percent per year. Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)
We know that she has 20 years left until she retire
We need to find the amount she have to save and add to her saving per year for the the next 20 years.
Given she wants to be able to withdraw $5000 per month for 25 years
25 years = 300 months
$5,000 x 300 months = $1,500,000
she will needs one million and five hundred thousand dollars when she retire
Let's say she just started saving
Daria needs to have present value of the annuity of 25 years, PV is then calculated using the PV function as follows:
=PV(rate,nper,pmt)
=PV(9%/12,12*25,5000)
=595808.11
The present value should be 595808.11.
Calculation of the present value:Given that,
The 25 years = 300
The rate is = 9% /12
PMT = $5,000
Now the following formula should be used.
=PV(rate,nper,pmt)
=PV(9%/12,12*25,5000)
=595808.11
Learn more about rate here: https://brainly.com/question/24334808
The price of peanut butter increases from $3.00 to $3.50 per jar, and the quantity of jelly demanded falls from 30 jars to 24 jars. Using the midpoint formula, calculate the cross-price elasticity of demand. Report your answer to two decimal places.
Answer:
the cross price elasticity of demand is -1.44
Explanation:
The computation of the cross price elasticity of demand is shown below:
= Percentage change in quantity demanded ÷ Percentage change in price
where
Percentage change in quantity demanded is
= (Q2 - Q1) ÷ (Q2 + Q1) ÷ 2
= (24 - 30) ÷ (24 + 30) ÷ 2
= -6 ÷ 27
= -0.2222
And, the percentage change in price is
= (P2 - P1) ÷ (P2 + P1) ÷ 2
= ($3.50 - $3) ÷ ($3.50 + $3) ÷ 2
= $0.50 ÷ $3.25
= 0.1538
So, the cross price elasticity of demand is -1.44
The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank. a. Materials fill in the blank 0405c7fed078fd8_2 fill in the blank 0405c7fed078fd8_3 Accounts Payable fill in the blank 0405c7fed078fd8_5 fill in the blank 0405c7fed078fd8_6 b. Journalize the entry to record the requisition of materials in April. If an amount box does not require an entry, leave it blank. b. fill in the blank 6c73b5f42041fa9_2
Answer:
Note: The missing question is attached as picture
a. Accounts title & Explanations Debit$ Credit$
Material inventory 641,200
($122,700+$170,600+$336,200+$11,700)
Accounts payable 641,200
(For material purchased on account)
Note: Both, Direct material and Indirect material is included in Materials
b. Accounts title & Explanations Debit$ Credit$
Work in process inventory 652,300
($233,700+$211,300+$136,200)
Manufacturing Overheads 6,100
Material inventory 658,400
(For material issued for production both as direct and indirect material)
Note: Requisition of direct materials are charged to WIP and requisition of indirect materials forms part of factory overhead.
On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $265,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:
Year Ended December 31 Inventory year end costs Cost index(relative to base year)
2021 $340,000 1.02
2022 350,000 1.06
2023 400,000 1.07
2024 430,000 1.10
Required:
Calculate inventory amounts at the end of each year.
Answer:
Avondale Lumber
Rebasing the Inventory at year-end using the dollar-value LIFO inventory method:
Year Ended Inventory year Cost index Inventory Amount
December 31 end costs (relative to base year) at year-end
2021 $340,000 1.02 $333,333
2022 350,000 1.06 $330,189
2023 400,000 1.07 $373,832
2024 430,000 1.10 $390,909
Explanation:
a) Data:
Year Ended Inventory year Cost index
December 31 end costs (relative to base year)
2021 $340,000 1.02
2022 350,000 1.06
2023 400,000 1.07
2024 430,000 1.10
b) The inventory at year-end costs is rebased using the cost index that is relative to the base year, by dividing the inventory costs by the cost index.
Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 140 units from beginning inventory and 270 units from the March 5 purchase; the March 29 sale consisted of 120 units from the March 18 purchase and 160 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)
Answer:
FIFO $19,700
LIFO $18,160
Average Cost $19,061
Specific Identification $18,490
Explanation:
Sales Revenue is $52,246.
Cost of goods sold is different for all four methods:
FIFO $32,546
LIFO $34,086
Avg Cost $33,185
Special Identification $33,756
What is one tax form you should complete differently if you've got more than one job?
Answer: W-4 withholding
Explanation:
The tax form you should complete differently if you've got more than one job is the W-4 withholdings.
It should be noted that wwjn an individual has a change in income, multiple jobs, or in a scenario wherebynthe person has a new job, it is important for one to revisit the W-4 withholdings.
When this is done, a new Form W-4 should be filled so that ones employer willxbe able to know the amount to withhold as tax from the person's paycheck.
Your company is about to undertake a major investment project. The project will require an initial outlay of $100 million for fixed assets plus another $50 million for working capital. Tax authorities will allow you to depreciate the fixed assets on a straight-line basis over four years to a salvage value of zero. In fact, however, you expect that you can sell the fixed assets for $25 million at the end of Year 4. You also expect that you can recover your working capital at its book value at that time. You expect that the project will generate $60 million in revenue and $30 million in cash operating expenses (excluding depreciation) during each of the next four years. The corporate tax rate is 40%.
A) What are the cash flows for each year of the project’s life that you would use in conducting an NPV analysis of the project?
B) If the cost of capital is 10%, what is the project’s NPV?
C) What is the minimum price at which you could sell the fixed assets at the end of Year 4 in order for the project to be just acceptable?
Answer:
A) initial outlay = $150 million
Cash flow year 1 = [($30 - $25) x 0.6] + $25 = $28
Cash flow year 2 = [($30 - $25) x 0.6] + $25 = $28
Cash flow year 3 = [($30 - $25) x 0.6] + $25 = $28
Cash flow year 4 = [($30 - $25) x 0.6] + $25 + ($25 x 60%) + $50 = $93
B) Using a financial calculator, NPV = -$16.85 million
C) cash flow year 4 should increase by $24.667 million, meaning that the selling price must increase by $$24.667/0.6 = $41.11 million
minimum selling price $25 + $41.11 = $66.11 million
Employers must provide training and evaluation with employees?
Answer:
Usually. Depends on the type of job and country, state, region
Management is a separate and different disciple than leadership.
Answer:
One of the main differences between management and leadership is the way in which the two disciplines motivate people and teams to achieve objectives. Managers rely on their authority to get work done. Leaders, on the other hand, influence, inspire and appeal to people at an individual level.
Explanation:
:)
Flynn Industries has three activity cost pools and two products. It estimates production 2,000 units of Product BC113 and 1,000 of Product AD908. Having identified its activity cost pools and the cost drivers for each pool, Flynn accumulated the following data relative to those activity cost pools and cost drivers.
Estimated Use of
Annual Overhead Data Cost Drivers per Product
Estimated
Activity Cost Cost Estimated Estimated Use of Product Product
Pools Drivers Overhead Cost Drivers BC13 AD908
Per Activity
Machine setup Setups $21,500 43 22 21
Machining Machine hours 101,430 4,830 1,190 3,640
Packing Orders 34,020 540 110 430
Using the above data, do the following:
A) Prepare a schedule showing the computations of the activity-based overhead rates per cost driver.
B) Prepare a schedule assigning each activity's overhead cost to the two products.
C) Compute the overhead cost per unit for each product.
D) Comment on the comparative overhead cost per product.
Answer:
Flynn Industries
A) A) Schedule of Overhead cost rates per cost driver:
Setup $21,500 43 = $500 ($21,500/43) per setup
Machine hours 101,430 4,830 = $21 ($101,430/4,830) per m.hour
Orders 34,020 540 = $63 ($34,020/540) per order
B) Schedule assigning overhead costs to the two products:
Rates Product BC113 Product AD908
Setup $500 $11,000 ($500 * 22) $10,500 ($500 * 21)
Machine hours $21 24,990 ($21 * 1,190) 76,440 ($21 * 3,640)
Orders $63 6,930 ($63 * 110) 27,090 ($63 * 430)
Total overheads $42,920 $114,030
Estimated production 2,000 1,000
C) Overhead cost per unit $21.46 ($42,920/2,000) $114.03 ($114,030/1,000)
D) With activity-based costing, despite the fact that Product BC113 has 2,000 units, it has the least total overhead costs assigned to it, while AD908 with 1,000 units was allocated more overhead costs. This situation is caused by the different usage or consumption of activities by the two products.
Explanation:
a) Data and Calculations:
Product lines Product BC113 Product AD908
Estimated production (units) 2,000 1,000
Activity Pools Cost drivers Overhead Usage BC13 AD908
Machine setup Setups $21,500 43 22 21
Machining Machine hours 101,430 4,830 1,190 3,640
Packing Orders 34,020 540 110 430
Donald Jackson invests $58,800 at 10% annual interest, leaving the money invested without withdrawing any of the interest for 10 years. At the end of the 10 years, Donald withdraws the accumulated amount of money.
Required:
a. Compute the amount Donald would withdraw assuming the investment earns simple interest.
b. Compute the amount Donald would withdraw assuming the investment earns interest compounded annually.
c. Compute the amount Donald would withdraw assuming the investment earns interest compounded annually.
Answer:
a. Compute the amount Donald would withdraw assuming the investment earns simple interest.
future value = $58,800 x [1 + (10% x 10)] = $117,600
b. Compute the amount Donald would withdraw assuming the investment earns interest compounded annually.
future value = $58,000 x (1 + 10%)¹⁰ = $152,512
c. Compute the amount Donald would withdraw assuming the investment earns interest compounded annually.
this is identical to (b) = $152,512
the advantage of compound interest is that previously earned interest, will earn interest by itself.
When giving feedback, you should get directly to the point.
True
or
False
Answer:
It is completely false
Explanation:
Because you should first tell the reason
Expert Manufacturing reported the following: Revenue Beginning inventory of direct materials, January 1, 2015 Purchases of direct materials Ending inventory of direct materials, December 31, 2015 Direct manufacturing labor Indirect manufacturing costs Beginning inventory of finished goods, January 1, 2015 Cost of goods manufactured Ending inventory of finished goods, December 31, 2015 Operating costs How much of the above would be considered period costs for Expert Manufacturing?
Answer:
$153,000
Explanation:
Note: The full question is attached as picture below
All the operating expenses which are associated with the business on a day-to-day basis or on a period-to-period basis is called period costs, and it generally includes the costs and expenses (excluding non-operating expenses) incurred during the business operation of the given period. Here, in the given balance sheet $153,000 of operating costs are period costs.
paid $1,300 towards principal of the notes payable
What is the credit and debit for this?
