Following are the transactions of Sustain Company
June1 T. James, owner, invested $19,500 cash in Sustain Company.
2 The company purchased $12,500 of furniture made from reclaimed wood on credit.
3 The company paid $2,300 cash for a 12-month insurance policy on the reclaimed furniture.
4 The company billed a customer $11,500 in fees earned from preparing a sustainability report.
12 The company paid $12,500 cash toward the payable from the June 2 furniture purchase.
20 The company collected $11,500 cash for fees billed on June 4.
21 T.James, owner, invested an additional $18,500 cash in Sustain Company.
30 The company received $13,500 cash from a client for sustainability services for the next 3 months.
Prepare general journal entries for the above transactions
Answers
Answer:See attachment
Explanation:
The general journal of Sustain Company for the transaction incurred from 1st June to 30th June has been recorded. The journal entry shows both the debit balance and the credit balance for Sustain company.
Check the transactions for further details
Related Questions
2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.
Answers
Question Completion:
The beginning inventory of merchandise at Keats Office Supplies and data on purchases and sales for a three-month period are as follows:
Date Transaction No. of Units Per Unit Total
March 3 Inventory 66 $225 $14,850
March 8 Purchase 132 270 35,640
March 11 Sale 88 750 66,000
March 30 Sale 55 750 41,250
April 8 Purchase 110 300 33,000
April 10 Sale 66 750 49,500
April 19 Sale 33 750 24,750
April 28 Purchase 110 330 36,300
May 5 Sale 66 790 52,140
May 16 Sale 88 790 69,520
May 21 Purchase 198 360 71,280
May 28 Sale 99 790 78,210
Answer:
Keats Office Supplies
Total sales (495 units) = $381,370
Cost of goods sold $147,510
Gross profit $233,860
Explanation:
a) Data and Calculations:
Date Transaction No. of Units Per Unit Costs Revenue
March 3 Inventory 66 $225 $14,850
March 8 Purchase 132 270 35,640
March 11 Sale -88 750 66,000
March 30 Sale -55 750 41,250
April 8 Purchase 110 300 33,000
April 10 Sale -66 750 49,500
April 19 Sale -33 750 24,750
April 28 Purchase 110 330 36,300
May 5 Sale -66 790 52,140
May 16 Sale -88 790 69,520
May 21 Purchase 198 360 71,280
May 28 Sale -99 790 78,210
Total:
Cost of goods available 616 -495 = 121 $191,070 $381,370
May 31 Ending Inventory, using FIFO = 121 units 360 $43,560
Cost of goods sold = Cost of goods available for sale Minus Ending Inventory = $191,070 - $43,560 = $147,510
You invest 1,000 in a project today. the project will generate a cash flow of 3186 three years from now. if the interest rate is 3%, what is the net present value of the project?
Answers
Answer:
NPV= $1,915.64
Explanation:
Giving the following information:
Cash flow= $3,186
Number of periods= 3 years
Interest rate= 3%
Initial investment (Io)= $1,000
To calculate the net present value, we need to use the following formula:
NPV= -Io + ∑[Cf/(1+i)^n]
NPV= -1,000 + (3,186/1.03^3)
NPV= $1,915.64
g Which of the following instruments are traded in the capital markets? Check all that apply. Corporate bonds Commercial paper Certificates of deposit Long-term bank loans Common stocks
Answers
Answer:
Preferred Stocks
Common Stocks
Explanation:
Commercial paper and Common Stocks are the instruments are traded in the capital markets. Hence, options B and E are correct.
What are capital markets?The stock market, bond market, currency and foreign exchange (forex) markets, among others, may be among these venues. Major financial cities like New York, London, Singapore, and Hong Kong are where the majority of markets are concentrated.
Stock, bond, currency, and other financial assets are traded in capital markets, which are financial marketplaces that connect buyers and sellers. The stock market and the bond market are examples of capital markets. They aid in the entrepreneurship of those with ideas and the expansion of small firms into larger ones.
A capital market is a place where people and businesses can borrow money using shares, bonds, debentures, and other debt instruments. The most typical illustration is a stock exchange like NASDAQ, where investors can trade shares from various companies.
Thus, options B and E are correct.
For more information about capital markets, click here
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The accounting records for Portland Products report the following manufacturing costs for the past year. Direct materials $ 390,000 Direct labor 261,000 Variable overhead 235,000 Production was 180,000 units. Fixed manufacturing overhead was $851,000. For the coming year, costs are expected to increase as follows: direct materials costs by 20 percent, excluding any effect of volume changes; direct labor by 4 percent; and fixed manufacturing overhead by 10 percent. Variable manufacturing overhead per unit is expected to remain the same. Required: a. Prepare a cost estimate for a volume level of 144,000 units of product this year. b. Determine the costs per unit for last year and for this year.
Answers
Answer:
Results are below.
Explanation:
First, we need to calculate the unitary costs:
Direct materials= 390,000/180,000= $2.17
Direct labor= 261,000/180,000= $1.45
Variable overhead= 235,000/180,000= $1.31
Now, we determine the new costs:
Direct materials= 2.17*1.2= $2.604
Direct labor= 1.45*1.04= $1.508
Fixed overhead= 851,000*1.1= $936,100
Total cost for 144,000 units:
Total cost= 144,000*(2,604 + 1,508 + 1.31) + 936,100
Total cost= 144,000*5.422 + 936,100
Total cost= $1,716,868
Finally, the unitary cos for both years:
Last year= 2.17 + 1.45 + 1.31= $4.93
This year= $5.422
Barry was sitting on a bench near the center of the shopping mall waiting for his wife to finish her shopping when he was approached by a woman holding a clipboard with a dress shirt laid over her arm. She asked if Barry had the time to answer a few questions about the shirt. After Barry examined the shirt, the woman asked him to assess the quality of the shirt and to state how much he would be willing to pay for the shirt. Barry participated in a(n) ____.
Answers
Answer: Mall intercept
Explanation:
From the question, we are informed that Barry was sitting on a bench near the center of the shopping mall waiting for his wife to finish her shopping when he was approached by a woman holding a clipboard with a dress shirt laid over her arm and asking him question related to the shirt.
Based on the above scenario, Barry participated in a mall intercept. Mall intercept simply refers to a situation whereby people are approached at shopping malls and asked questions in form of surveys which are done by researchers in order to gather information regarding a particular subject area.
Other restaurants in the industry are seeing improvements in their sales, rather than declines. The reporters mention this is in part due to the rise of the celebrity chef and the contrasting styles of the newer quick-serve options that emphasize recipes and quality. Identify which strategy these newer organizations are using to compete against the older more established rivals.
a. Price signaling strategy
b. Capacity control strategy
c. Non-price competition strategy
d. Price leadership strategy
Answers
Answer: Non price competition strategy
Explanation:
The strategy that's been utilized by the newer firms as against the fish that are more established is referred to as non price competition strategy.
Non-price competition strategy is referred to as a marketing strategy which doesn't have to do with the reduction in price buth rather, utlizes promotional expenditures like free gifts, sales promotion, advertising, special orders etc. For this strategy, the company's product quality and brand is of importance to the company.
Pauley Company needs to determine a markup for a new product. Pauley expects to sell 22,000 units and wants a target profit of $16 per unit. Additional information is as follows: Variable product cost per unit $ 18 Variable administrative cost per unit 13 Total fixed overhead 20,500 Total fixed administrative 36,700 Using the variable cost method, what markup percentage to variable cost should be used
Answers
Answer:
variable markup % = 60%
Explanation:
total units sold 22,000
total costs associated with selling the 22,000 units:
variable production costs $18 x 22,000 = $396,000
variable S&A costs $13 x 22,000 = $286,000
fixed overhead = $20,500
fixed S&A = $36,700
total costs = $739,200
total cost per unit = $33.60
selling price = $33.60 + $16 = $49.60
markup percentage = [(sales price - unit cost) / unit cost] x 100
the total markup % = [49.60 - 33.60) / 33.60] x 100 = 47.62%
but since we are going to calculate the markup percentage solely based on variable costs, then:
variable cost per unit = $31
selling price = $49.60
the variable markup % = [49.60 - 31) / 31] x 100 = 60%
You would like to evlauate pursuing a new computing tool for your team. The new workstation would impact 10 of your campany staff and cost about $5,500. You expect the new work stations to have a yearly maintenance and operation cost of 20% of the initial cost. At the end of the 3 year life cycle you think the new workstation can have a salvage value of 5% of the initial cost. What is the present worth of the new stations if you use an internal MARR of 17%
Answers
Answer:
-7,759.29 dollar
Explanation:
cost of maintenance and operation
initial cost of $5500 x 20%
= 1100 Dollars
salvage value
initial cost of $5500 x 5%
= $275
pw = -5500-1100(p/a,17%,3) +275(p/f,17%,3)
pw = -5500-(1100*2.21) + (275*0.6244)
pw = -5500-2431+17.71
= -7759.29
so pw, that is present worth of new stations using internal MARR of 17% is -7759.29 dollars
Imagine that to preserve the traditional way of life in small fishing villages, a government decides to impose a price floor that will guarantee all fishermen a certain price for their catch.
Using the demand and supply framework, predict the effects on the price, quantity demanded, and quantity supplied.
With the enactment of this price floor for fish, what are some of the likely unintended consequences in the market?
Suggest some policies other than the price floor to make it possible for small fishing villages to continue.
Answers
Answer:
As a result of the price floor, price would increase. As a result, quantity demanded will decrease and the quantity supplied would increase.
Supply would exceed demand and as a result there would be an excess supply of fish.
As an alternative to the price floor, the government can subsidise the cost of fishing. This would reduce the cost of producing fish
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
(Ignore income taxes in this problem.) The Sawyer Corporation has $145,000 to invest and is considering two different projects, X and Y. The following data are available on the projects: Click here to view Exhibit 8B-1 and Exhibit 8B-2 to determine the appropriate discount factor(s) using tables. Project X Project Y Cost of equipment needed now $ 145,000 Working capital requirement - $ 145,000 Annual cash operating inflows $ 37,000 $ 32,000 Salvage value in 5 years $ 6,000 - Both projects will have a useful life of 5 years; at the end of 5 years, the working capital will be released for use elsewhere. Sawyer's discount rate is 9%. The net present value of project Y is closest to:
Answers
Answer: -$20,529.60
Explanation:
Net Present value of Y = Present Value of Inflows - Present value of Outflows
Present Value of Y inflows
$32,000 inflows for 5 years. This is therefore an annuity
Present value of annuity = Annuity * Present value interest factor, 9%, 5 years
= 32,000 * 3.8897
= $124,470.40
Net Present Value = 124,470.40 - 145,000
= -$20,529.60
Select the correct answer. What is the standard lettering height of lowercase letters when used in combination with uppercase letters? A. Lowercase letters must be about one-fourth the height of uppercase letters. B. Lowercase letters must be about twice the width of uppercase letters. C. The lower part of the lowercase letter must be about two-thirds the height of the capital letter. D. The upper part of the lowercase letter must be about two-thirds the height of the capital letter.
Answers
Answer:
B
Explanation:
Neil and John both need $20,000 to clear off a mortgage payment after 10 years. Neil invests $15,000 at 3 percent per annum of simple interest for 10 years, and John invests $15,000 at 3 percent compound interest compounded annually for 10 years. Who would be able to repay the amount from this investment easily?
Answers
Answer:
John
Explanation:
Neil will have the following amount after ten years.
Simple interest is calculated using the formula,
I= p x r x t
where I= interest, P= principal amount, r = interest rate, t is time
for Neil interest will be= $15,000 x 3/100 x 10
=$15,000 x 0.03 x 10
=$4500
Neil will have principal + interest amount
=$4,500 + $15,000
=$19,500
John invested in a compound interest account.
The amount after ten years will be
The formula for compound interest is
FV = PV × (1+r)^n
where FV = Future Value
PV = Present Value
r = annual interest rate
n = number of periods
After ten years, John will have
Fv= $15,000 x (1 + 3/100)^10
Fv= $15,000 x (1.03)^10
FV =$15,000 x 1.34391
Fv = $15,158.75
John will be able to clear his mortgage.
John will be able to repay the amount from this investment easier than Neil.
Because Neil has invested in simple interest, his amount at the end of 10 years will be equal to the interest earned and the principal amount.
According to the problem:
P (principal) = $15,000, I = 3%=0.03 and t =10 years
Therefore, I = P x r x t = 15,000 x 0.03 x 10 = $4,500
The amount at the end of 10 years
= principal + interest
= 15,000 + 4,500
= $19,500
On the other hand, John has invested his $15,000 in 3 percent compound interest compounded annually for 10 years.
According to the problem: P
= $15,000
I
= 3% = 0.03
n
= 10
Therefore, according to the formula
M = P( 1 + i )n where M is the final amount at the end of the term, we have
M = 15,000(1+0.03)10
= 20,158.75 (approximately).
= $20,158.75
Therefore, John will be able to repay the debt from this investment easily, because Neil is $500 short of the required amount.
Delphi Company uses job-order costing. It applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, Delphi estimated that it would work 37,000 machine-hours and incur $222,000 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were issued for use in production, $367,000 ($345,000 direct and $22,000 indirect). b. Employee costs were incurred: direct labor, $309,000; indirect labor, $44,000; and administrative salaries, $155,000. c. Factory depreciation, $175,000. d. Selling costs, $140,000. e. Manufacture overhead was applied to jobs. The actual machine hours for the year were 35,000 hours. a. Compute the total manufacturing overhead cost applied to jobs during the year.
Answers
Answer:
Allocated MOH= $210,000
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 222,000/37,000
Predetermined manufacturing overhead rate= $6 per machine hour
Now, we cal allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 6*35,000
Allocated MOH= $210,000
stock that has a current price of $25.00, a beta of 1.25, and a dividend yield of 6%. If the Treasury bill yield is 5% and the market portfolio is expected to return 14%, what should MUSS’s stock sell for at the end of an investor's two year investment horizon?
Answers
Answer:
$30.2067
Explanation:
From the given question, using the dividend discount model
[tex]V_0 = \dfrac{D_1}{r - g}[/tex]
where:
r is the Expected return on stock and be calculated as:
Expected return on stock = Risk free rate + Beta × (Expected Market Return - Risk free rate)
Expected return on stock = 5% + 1.25 × (14% - 5%) = 16.25%
However, the current price in this process will b used as the dividend price for all future expenses.
Dividend Yield = Current Dividend/The Share Price
Current dividend D0 = 6% × $25.00 = $1.50
D₁ = D₀ × (1 + g)
D₁ = 1.5 × (1 + g)
Thus, we can now employ the use of the growth dividend model (constant) to determine the value of g as follows:
[tex]25 = \dfrac{1.5 \times (1 + g)}{0.1625 - g}[/tex]
By cross multiply, we have:
4.0625 - 25g = 1.5 + 1.5g
collect like terms, we have:
4.0625 - 1.5 = 1.5g + 25g
2.5625 = 26.5g
Divide both sides by 26.5, we have:
2.5625/26.5 = 26.5g/26.5
g = 9.67%
Similarly, suppose the value for the second year-end to be Y₂;
Then the constant growth dividend model can be computed as:
[tex]Y_2 = \dfrac{D_3}{r - g}[/tex]
where;
D₃ = D₂ × (1 + g)
D₂ × (1 + g) = D₁ × (1 + g) × (1 + g)
D₁ × (1 + g) × (1 + g) = D₀ × (1 + g) × (1 + g) × (1 + g)
D₁ × (1 + g) × (1 + g) = D₀ × (1 + g) × (1 + g) × (1 + g) = D₀ × (1 + g) × 3
D₃ = 1.5 × (1 + 9.67%) × 3
D₃ = $1.9876
Finally:
[tex]Y_2 = \dfrac{D_3}{r - g}[/tex]
[tex]Y_2 = \dfrac{1.9876}{0.1625 - 0.0967}[/tex]
Y₂ = $30.2067
Relationship marketing A. applies to B2B selling in relationship dyads, but not B2C selling. B. applies to B2C selling but not to B2B selling. C. is a non-electronic approach to building personal relationships in a B2B or B2C environment. D. views the sale as the beginning, not the end, of a relationship. E. A and C are both correct
Answers
Answer:
Relationship marketing
D. views the sale as the beginning, not the end, of a relationship.
Explanation:
The emphasis with relationship marketing is the ability to retain and satisfy customers and not just the sales transactions. Relationship marketing tries to attract, connect, date, and maintain the customer as an asset that should be cultivated for lifetime value. It builds that human connection between a brand and its customers that is necessary in a romantic relationship. It follows the footsteps of a romance with attraction, connection, dating, relationship, marriage, and flourishing love.
customer retention and satisfaction rather than sales transactions.
a. Consumption schedule The variable on the vertical (y) axis is (Click to select) and the variable on the horizontal (x) axis is (Click to select) . These variables are (Click to select) related. b. Saving schedule The variable on the vertical (y) axis is (Click to select) and the variable on the horizontal (x) axis is (Click to select) . These variables are (Click to select) related. c. What is the fundamental reason that the levels of consumption and saving in the United States are each higher today than they were a decade ago
Answers
Answer:
a. Consumption schedule
The variable on the vertical (y) axis is Consumption and the variable on the horizontal (x) axis is disposable income .
These variables are directly related.
On the Consumption schedule, the variables on the y axis are the different levels of consumption whilst the variables on the x are amounts of disposable income.
Consumption and disposable income are directly related because when the amount of disposable income increases, the amount that consumers can spend will increase as well as it comes from the disposable income that a consumer has.
b. Saving schedule
The variable on the vertical (y) axis is Saving and the variable on the horizontal (x) axis is disposable income .
These variables are directly related.
On the Saving schedule the x axis which is for the independent variable is the Disposable income whilst the dependent variable on the y axis is for Savings.
Savings and Disposable income are directly relate because when a person has more money after taxes (disposable income), they will be able to save more money.
c. Real GDP and disposable income are higher.
The Real GDP of the United States as well as disposable income have increased over the past decade which means that people are able to both consume and save more s shown above.
Space travel is an example of a rapid skimming strategy.
False
True
Answers
Answer:
False
Explanation:
I jus got it right on the assignment.
Identify each of the following accounts as a component of asset (A), liabilities (L), or equity (E). Account Balance sheet section
a. Cash and cash equivalents
b. Wages payable
c. Common stock
d. Equipment
e. Long-term debt
f. Retained earnings
g. Additional paid-in capital
h. Taxes payable
Answers
Answer:
a. asset (A)
b. liabilities (L)
c. equity (E)
d. asset (A)
e. liabilities (L)
f. equity (E)
g. equity (E)
h. liabilities (L)
Explanation:
A Balance sheet shows the balance of assets, liabilities and equity at the reporting date.
Assets are economic resources controlled by the entity such as equipment and cash.
Liabilities are obligation that arise such as wages payable and tax payable.
Equity is the residue after deducting liabilities from assets. it represents the owners contribution through equity and retained income.
A state savings bond can be converted to $100 at maturity six years from purchase. If the state bonds pay 8% annual interest (compounded annually), at what price must the state sell its bonds
Answers
Answer:
The state must sell its bonds at the price of $63.02.
Explanation:
The at which the state must sell its bond can be calculated using the present value (PV) as follows:
PV = FV / (1 + r)^n ......................... (1)
Where;
PV = Present value or the price at which the state must sell its bond = ?
FV = Future value of the bond or the value the state savings bond can be converted to at maturity = $100
r = Annual interest rate = 8%, or 0.08
n = number of years = 6
Substituting the values into equation (1), we have:
PV = $100 / (1 + 0.08)^6
PV = $100 / (1.08)^6
PV = $100 / 1.586874322944
PV = $63.02
Therefore, the state must sell its bonds at the price of $63.02.
Gates entered into a contract with Mennonite Deaconess Home & Hospital for the installation of a new, "one-ply roofing system." The work was to be done by an installer chosen by Mennonite but approved by Gates. When the work was nearly complete, but before Gates had approved the work, the hospital paid the installer 90 percent of the balance due. After inspection, Gates did not approve, and in addition, the roof leaked and had to be replaced at the hospital’s expense. The hospital claimed that Gates was responsible for the quality of the work. Gates claimed that he could not be held accountable because service contracts are not covered by the Uniform Commercial Code. Did the contract involve goods or services, and will Gates be held responsible? [Mennonite Deaconess Home & Hospital Inc. v. Gates Engineering Co., 363 N.W.2d 155 (Nebraska)]
Answers
Answer:
The Supreme Court of Nebraska ruled that the core of the contract involved the sale of goods, since the Hospital was purchasing the one-ply roofing system. Even though labor was included, the contract was predominantly about a good, not a service. E.g. when you purchase a car, someone sells it to you, but the core of the contract is the sale of the car.
In other words, Gates was responsible for selling a roofing system (good) and he is responsible for any defects.
Troy Blackford smashed a slot machine while he was gambling at Prairie Meadows Casino. He was banned form the premises. Despite the ban, he later gambled at the casino and won $9,387. When he tried to collect his winnings, the casino refused to pay. He filed a suit for breach of contract, arguing that he and the casino had a contract because he had accepted its offer to gamble. Is there a contract between the casino and Blackford? Discuss
Answers
Answer:
No.
Explanation:
Technically when an individual enters into a casino and decides to play on of the games in the casino (such as the slot machines) they enter into an agreement with the casino stating that they agree to all losses and profits that may arise from using the machines. Unfortunately, being banned from the casino is also a form of contract which states that if the individual is prohibited from entering the casino or using any of its machines, and also nullifies any winnings gained from the casino's services (such as the slot machines). Therefore in this scenario, there is no contract between the casino and Blackford that supports his claim.
At LK Corporation, budgeted sales in units for January, February, and March are 15,000, 20,000, and 18,000 units, respectively. If the selling price per unit is $5, what is expected sales revenue for March
Answers
Answer:
$90,000
Explanation:
The expected sales revenue for March is computed as
Expected sales revenue in March = budgeted sales in March × Selling price per unit
= 18,000 units × $5
= $90,000
Please note that the information given for January and February are not relevant since we are asked to compute expected sales revenue in March.
true or false. a factor that can come between the purchase intention and purchase decision is the attitude of others g
Answers
Answer:
True
Explanation:
Before a consumer makes a decision to buy a product, several factors can affect him. Two distinct factors are the attitude of others and unexpected situational factors. When the customer notices that a lot of people around him have a negative disposition or opinion about a product, they are likely to be discouraged from buying that product.
This is even more likely to happen if the consumer lacks enough motivation to buy that product. So the attitude of others can affect the buyer's intention which is his motivation and the final decision to purchase that product.
A lot of factors can come between purchase intensions. A factor that can come between the purchase intention and purchase decision is the attitude of others is a true statement.
The more positive a person's attitude toward the a product, the greater their purchase intentions.
Another factor consider is perceived playfulness that also affects purchase intention positively.
The factors that affect a consumer's purchase intention can be said to be product perception, shopping experience, customer service etc.
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Rocky Mountain Bottling Company produces a soft drink that is sold for a dollar. At production and sales of 1,000,000 units, the company pays $700,000 in production costs, half of which are fixed costs. At that volume, general, selling, and administrative costs amount to $320,000, of which $70,000 are fixed costs. What is the amount of contribution margin per unit
Answers
Answer:
contribution margin per unit = $0.40
Explanation:
total variable production costs = $350,000
total fixed production costs = $350,000
total variable S&A expenses = $250,000
total fixed S&A expenses = $70,000
total costs = $1,020,000
total fixed costs = $420,000
total variable costs = $600,000
sales price = $1
variable cost per unit = $600,000 / 1,000,000 = $0.60
contribution margin per unit = $1 - $0.60 = $0.40
A customer buys 1 XYZ Dec 30 call at 7 and sells 1 XYZ Dec 40 call at 1. Two months later, if the customer closes the positions when the spread is trading at 9 points, the customer has
Answers
Answer:
Gain of $300
Explanation:
Based on the information given the investor have a debit spread and Since the investor paid a net premium of the amount of $600 which is calculated as : (7 − 1) in which the spread had widened to 9 which means the investor will have a profit or gain of the amount of $300 calculated as :(9 − 6) due to the spread .
Therefore the customer has a gain of the amount of $300 reason been that it is a Debit spreads and secondly Debit spread are often profitable.
JBS Inc. recently reported net income of $3,500 and depreciation of $885. How much was its net cash provided (used) by operations, assuming it had no amortization expense, added $200 to inventories, sold none of its fixed assets, and had a $200 increase in accounts payable
Answers
Answer:
$4,385
Explanation:
Cash flow from Operating Activities
Net income $3,500
Adjustment for non-cash items :
Depreciation $885
Adjustment for Changes in Working Capital :
Increase in Inventory ($200)
Increase in accounts payable $200
Net cash provided (used) by operations $4,385
a. How much would you pay for a Treasury bill that matures in 182 days and pays $10,000 if you require a 1.8% discount rate?
b. If the Treasury also received $750 million in non-competitive bids, who will receive T-bills, in what quantity, and at what price?
Answers
Answer: $9909
Explanation:
Let the amount that will be paid be represented by y. The question can now be solved as:
(10000 - y)/10000 × 360/182 = 0.018
(10000-y)/10000 = 0.018 × 182/360
(10000 - y)/10000 = 0.0091
10000-y = 0.0091 × 10000
10000 - y = 91
y = 10000 - 91
y = $9909
Dean exchanges a business storage facility with a $120,000 adjusted basis for $40,000 cash and a parking lot with a $140,000 FMV. What is the amount of gain which Dean recognizes on the exchange
Answers
Answer:
$40,000
Explanation:
This transaction lacks commercial substance, therefore, Dean should only recognize the boot (cash received) as gain from this transaction. The adjusted basis for Dean's "new" parking lot is $120,000, the same adjusted basis as the business storage facility.
This happens because the boot was not more than 25% of the value of the total consideration received by Dean (cash + parking lot). If the boot is 25% or more, then the sale must be reported as a cash sale.
Explain the difference between the unadjusted and the adjusted trial balance. Multiple choice question. The adjusted trial balance is prepared after adjusting entries have been recorded and posted. The unadjusted trial balance is more up to date than the adjusted trial balance. The unadjusted trial balance is more accurate and should be used to prepare financial statements. The adjusted trial balance contains only the accounts which were adjusted. The unadjusted trial balance contains all of the remaining accounts.
Answers
Answer:
The adjusted trial balance is prepared after adjusting entries have been recorded and posted.
Explanation:
Only the adjusted trial balance is accurate and more up to date than an unadjusted trial balance and must be used to prepare financial statements.
The adjusted arise from the end of reporting period adjustment such as inventory valuation and errors that might have been identified during the reporting period.
The adjusted trial balance is prepared after adjusting entries have been recorded and posted.
The following information should be considered:
Only the adjusted trial balance is correct and more up to date as compared to the unadjusted trial balance and must be used to prepare financial statements.The adjusted arise from the end of reporting period adjustment like as inventory valuation and errors.learn more: https://brainly.com/question/2386757?referrer=searchResults
Jake owns a company called Boat Builders, LLC and one evening he took several of his employees out after work to a bar. After eating and drinking for several hours Jake invited them back to the Boat Builders premises so he and some of the employees could show off a boat they’d been working on. After arriving at Boat Builders they all continued to drink and two of the employees, Tyler and Mark, got into an argument. When Tyler went to use the bathroom Mark attacked him from behind causing him to lose consciousness and break a tooth. Mark made light of it but gave Jake a menacing look so Jake dropped it and went to check on Tyler. Tyler sat up and asked what happened and Jake told him that Mark had attacked him from behind. About an hour passed by during which time Jake went out to his car and got his phone so he could play music for everyone. After an hour, Tyler and Mark began to argue again and they walked outside into the Boat Builders parking lot where Mark attacked Tyler again. Mark left and was later arrested for aggravated battery. Tyler regained consciousness after 10 minutes and drove home even though he was badly injured.
Does Tyler have a negligence claim against Boat Builders? Why or why not? A complete answer will be at least 5 sentences and mention critical facts.
Answers
Answer:
Yes, because Boat Builders, LLC failed to exercise a reasonable standard of care at their premises.
Explanation:
Remember, we are told, "Jake... invited them back to the Boat Builders premises," meaning they (Boat Bilders, LLC) had a duty of care responsibility toward all of his employees present.
Note we are told, "Mark made light of it but gave Jake a menacing look so Jake dropped it," this was a moment that shows Jake's negligence because as the owner of Boat Builders he had a duty of care to ensure no one is hurt without their own fault within their premises (which included their "parking lot").
