Answer:
Work, School, Making dinner, Driving, Choosing music, Doing homework
Explanation:
List a minimum of sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations.
Answer:
The answer is below
Explanation:
Some of the sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations are:
1. Reserve Bank of Australia - RBA
2. Australian Prudential Regulation Authority - APRA
3. Australian Securities and Investments Commission - ASIC
4. Australian Competition and Consumer Commission - ACCC
5. Australian Communications and Media Authority - ACMA
6. Superannuation and Financial Services Industry - Royal Commission
7. Australian Financial Services Licence - AFSL
8. Australian Market Licence - AML
9. Clearing and Settlement - CS
10. Australian Consumer Law - ACL
Banks offer various types of accounts, such as savings, checking, certificate of deposits, and money market, to attract customers as well as meet their specific needs.
a. True
b. False
Answer:
it's false.. because those are not the various types of account.
Match the cost variance component to its definition.
a. Actual quantity
b. Standard quantity
c. Actual price
d. Standard price
1. The expected price
2. The input used to manufacture the quantity of output
3. The amount paid to acquire input
4. The expected input for the quantity of output
Answer:
1. D
2. A
3. C
4. B
Explanation:
Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.
In sales and marketing, pricing of products is considered to be an essential element of a business firm's marketing mix because place, promotion and product largely depends on it.
In Accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
The various types of cost variance components and their definition includes the following;
1. Standard price: the expected price
2. Actual quantity: the input used to manufacture the quantity of output
3. Actual price: the amount paid to acquire input
4. Standard quantity: the expected input for the quantity of output
3. (01.02 MC)
You choose to complete your homework rather than watch television so that you can earn a good grade. You made the choice with the lowest (5 points)
O opportunity cost
O demand
Oscarcity
Obenefit
For journal entries in this assignment, enter AR for Accounts Receivable, ADA for Allowance for Doubtful Accounts, BAD for Bad Debt Expense, REV for Sales Revenue, and CASH for Cash. Please be careful as you type, because Blackboard is not forgiving! Enter all numeric answers in whole dollars but without a $.
Priestly Inc. records sales on account of $120,000 during the month of June. The company estimates bad debt expense as of 3% of credit sales.
A. Show the journal entry for the June sales on account (enter account name from the choices in the general instructions above, and then the amount).
o Debit: [a] [b]
o Credit: [c] [d]
B. Show the journal entry for June's bad debt expense.
o Debit: [e] [f]
o Credit: [g] [h]
C. Assuming Priestly's opening balance of Accounts Receivable on June 1 was $0, what is its balance of net Accounts Receivable after the two entries above?
Just before closing its books on June 30, Priestly learns that one of its customers, the McKay Company, has run into financial difficultly and cannot pay an invoice totaling $2,300. Priestly decides to write off McKay's account.
i. Show the journal entry for the write-off.
o Debit: [j] [k]
o Credit: [U] [m]
ii. What is Priestly's balance of net Accounts Receivable after the write-off? [
On July 15, Priestly is pleasantly surprised to receive a check for $1,200 from McKay with a note saying the remainder of the balance due will be sent in two weeks.
A. Show the journal entry to reinstate the account for which payment has been received.
o Debit: [o] [p]
o Credit: [q] [r]
B. Show the journal entry to record McKay's payment of $1,200.
o Debit: [s] [t]
o Credit: [u] [v]
C. What is Priestly's balance of net Accounts Receivable after the entries pertaining to Mckay?
Answer:
Priestly Inc.
A. Debit AR 120,000
Credit REV 120,000
To record the sales on account for June.
B. Debit BAD 3,600
Credit ADA 3,600
To record the bad debts expense for the month.
C. The balance of net Accounts Receivable after the two entries above is $116,400
D. Debit ADA 2,300
Credit AR 2,300
To write-off McKay's account.
E. Priestly's balance of net Accounts Receivable after the write-off is $$114,100.
F. Debit AR 1,200
Credit ADA 1,200
To reinstate a previously written-off amount from McKay's account.
G. Debit CASH 1,200
Credit AR 1,200
To record the receipt from McKay on account.
H. Priestly's balance of net Accounts Receivable after the entries pertaining to McKay is $114,100.
Explanation:
Data and Analysis:
A. Accounts receivable $120,000 Sales revenue $120,000
B. Bad Debts Expense $3,600 Allowance for Doubtful Accounts $3,600
C. Allowance for Doubtful Accounts $2,300 Accounts Receivable $2,300
D. Accounts Receivable $1,200 Allowance for Doubtful Accounts $1,200
E. Cash $1,200 Accounts Receivable $1,200
T-account:
Accounts Receivable
Account Titles Debit Credit Balance
A. Sales revenue $120,000 $120,000
B. Allowance for Doubtful Accounts $3,600 116,400
C. Allowance for Doubtful Accounts $2,300 114,100
D. Allowance for
Doubtful Accounts 1,200 115,300
E. Cash 1,200 114,100
Imagine you are doing an inventory review for your new employer. One of the first items you look at is a cookware set. Demand is normally distributed with a mean of 17 units/day. The standard deviation for demand during lead time is 34.6. The company currently purchases the cookware set when the inventory level falls to 400. Supply lead time is 21 days.
Required:
a. How much safety stock is currently being held?
b. What Cycle Service Level is currently being supported?
c. If a 95% CSL is desired, what reorder point should be used?
d. If the annual holding cost is 20% of item cost and the item costs $12/unit, what is the cost of safety stock inventory based on a 95% CSL?
Answer: a. 43units
b. 89.5%
c. 414 units
d. $68.30
Explanation:
The information given are written below:
Demand, d = 17 units per day
Standard Deviation during lead time, SD = 34.6
Reorder point R = 400
Lead Time, L = 21 days
Since Reorder point = (d×L) + (Z×SD)
400 = (17 × 21) + (34.6 × Z)
400 = 357 + 34.6Z
34.6Z = 400 - 357
34.6Z = 43
Z = 43/34.6
Z = 1.24
a. How much safety stock is currently being held?
= 1.243 × 34.6
= 43 units
b. What Cycle Service Level is currently being supported?
Since the value of Z = 1.243, then, the service level from the service table will be: = 89.5%
c. If a 95% CSL is desired, what reorder point should be used?
This will be:
=(17 × 21) + (1.645 × 34.6)
= 357 + 56.917
= 413.917
= 414 units
d. If the annual holding cost is 20% of item cost and the item costs $12/unit, what is the cost of safety stock inventory based on a 95% CSL?
First, we need to know the average inventory for the 95% service level which will be:
= Safety stock / 2
= (1.645 × 34.6) / 2
= 28.46 units
The cost of safety stock inventory will be:
= Average inventory × Item cost × Holding cost
= 28.46 × 12 × 20%
= $68.30
Perfectly competitive firms will: increase output up to the point that the marginal revenue of an additional unit of output is equal to the marginal cost. increase output up to the point that the marginal revenue of an additional unit of output is greater than the marginal cost. always attempt to minimize average variable cost. maximize total revenue by using the marginal decision rule.
Answer:
increase output up to the point that the marginal revenue of an additional unit of output is equal to the marginal cost.
Explanation:
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Generally, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.
Perfectly competitive firms always strive to maximize profits by increasing their level of output, such that P = MC.
In a nutshell, in the long run equilibrium P = MR = MC.
Where;
P is the profit.
MR is the marginal revenue.
MC is the marginal cost.
Worldwide Electronics is a global manufacturing firm that produces televisions, monitors, and other consumer electronic equipment. It is organized geographically with four divisions (North America, South America, Europe and Africa, and Asia-Pacific). Manufacturing is organized by product line and shipped to the divisions. That is, televisions, for example, are produced in a single plant and then shipped to the four global divisions for sale.
Required:
Match the following executives to the responsibility center that best represents their likely decision-making authority. Responsibility Center Executive
1. JH Green, Corporate Personnel Officer
2. Kalya Borodina, Sales Manager, Peru
3. Jay Smith, Chief Executive Office
4. Andres Goya, Vice-President, South America S en Chan, Mexico City Plant Manager Cost center Discretionary cost center Investment center Profitcenter Revenue center
Answer:
Explanation:
1. JH Green, Corporate Personnel Officer - Discretionary cost center
2. Kalya Borodina, Sales Manager, Peru - Revenue center
3. Jay Smith, Chief Executive Office - Investment center
4. Andres Goya, Vice-President, South America - Profit center
5. Irene Chan, Mexico City Plant Manager - Cost center
Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: Title insurance$23,000 Legal fees for drawing the contract 8,500 Pro-rated property taxes for the period after acquisition 43,000 State transfer fees 4,700 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3 and $2 million, respectively. Shortly after acquisition, Samtech spent $89,000 to construct a parking lot and $47,000 for landscaping. Required:1. Determine the initial valuation of each asset Samtech acquired in these transactions.2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $320,000 and the salvaged materials were sold for $9,500. In addition, Samtech spent $86,000 clearing and grading the land in preparation for the construction of a new building.
Answer:
1. We have:
Initial valuation of land = $1,821,720
Initial valuation of building = $1,214,480
2. We have:
Initial valuation of land = $3,432,700
Initial valuation of building = $0
Explanation:
1. Determine the initial valuation of each asset Samtech acquired in these transactions.
Fair value of land = $3 million
Fair value of building = $2 million
Total fair value = $3 million + 2 million = $5 million
Total acquisition cost = Purchase price land and building + Title insurance + Legal fees for drawing the contract + State transfer fees = $3,000,000 + $23,000 + $8,500 + $4,700 = $3,036,200
Initial valuation of land = Total acquisition cost * (Fair value of land / Total fair value) = $3,036,200 * (3 / 5) = $1,821,720
Initial valuation of building = Total acquisition cost * (Fair value of building / Total fair value) = $3,036,200 * (2 / 5) = $1,214,480
2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $320,000 and the salvaged materials were sold for $9,500. In addition, Samtech spent $86,000 clearing and grading the land in preparation for the construction of a new building.
Since it is assumed that the building has been demolished, the building will no longer have any initial valuation or an initial valuation of $0.
What will happen now is that the Total acquisition cost plus Demolition costs and cost of clearing and grading the land in preparation for the construction of a new building minus the salvaged materials will be the initial valuation of land.
Initial valuation of land = Total acquisition cost + Demolition costs + Cost of clearing and grading the land - Salvaged materials = $3,036,200 + $320,000 + $86,000 - $9,500 = $3,432,700
Initial valuation of building = $0
Bank 1 has deposits of $4,514 and reserves of $789. If the required reserve ratio is 10%, what is the value of the bank's required reserves
Answer:
Required Reserves = 451.4 $
Explanation:
Required reserves ratio can be calculated by the following equation
Required Reserves = Required Reserve Ratio × Deposits
Required Reserves = 0.10 x 4514
Required Reserves = 451.4 $
what is the starting salary for a bookseller? it's for a project.
Answer:
$18k–36kper year
Explanation:
what is a market failure
Consider a two-period resource allocation problem where the efficient allocation of the resource implies a market price of $10 in the first period. Assume in both periods the constant marginal extraction costs equal $2 and the social discount rate is 10%. The socially efficient undiscounted market price in the second period must be:
Answer:
$10.80
Explanation:
Given that:
A first-period efficient allocation cost = $10
The constant marginal extraction cost MEC for both periods = $2
The social discount rate (r) = 10%
∴
The efficient undiscounted market price for the 2nd period can be determined by using the formula:
[tex]P_1 - MEC_1 = \dfrac{P_2 -MEC_2}{1+r} \\ \\ \implies 10 -2 = \dfrac{P_2-2}{1+0.1} \\ \\ 8 = \dfrac{P_2-2}{1.1} \\ \\ P_2 -2 = 8 \times 1.1 \\ \\ P_2-2=8.8 \\ \\ P_2 = 8.8+2 \\ \\ \mathbf{P_2 = \$10.80}[/tex]
f r e e
p o i n t s . y o u r we l c o m e
Answer:
THANKSSSSSSSSSSSSSSSSSSS SO MUCH
have a good day :)
Explanation:
Answer:
Tysm sista!!![tex] \infty \infty \infty \infty \infty \infty [/tex]
After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only individual voting for you. a.If the company has 430,000 shares outstanding and the stock currently sells for $45, how much will it cost you to buy a seat if the company uses straight voting
Answer:
$9,675,045
Explanation:
In order to win the election of the board of directors, voting powers should have half a of the voting power and one vote.
Calculating the cost incurred to buy the voting power:
Total cost = [Number of shares / 2 + 1] * Stock price
Total cost = [430,000/2 + 1] * $45
Total cost = 215,001 * $45
Total cost = $9,675,045
So, it will cost one $9,675,045 to buy a seat if the company uses straight voting.
Rational and emotional advertising appeals __________ . Group of answer choices represent two distinctive approaches which should never be combined since they divide the focus of a potential consumer's attention counteract each other when combined can be combined wince consumers' purchase decisions are often made on the basis of both rational and emotional motives can only be used together effectively for low-involvement product purchases are most effective when used in conjunction with other advertising appeals
Answer:
can be combined since consumers' purchase decisions are often made on the basis of both rational and emotional motives.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Basically, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
Advertisement refers to the promotional multimedia messages designed and developed to make the products or services of a company known to its customers and potential customers. Also, it is generally considered to be one-sided because it focuses on painting a brand as the best and devoid of any negative issue.
Rational and emotional advertising appeals can be combined since consumers' purchase decisions are often made on the basis of both rational and emotional motives.
Buying motive refers to the considerations, urge, emotions or influences that creates the impulse in consumers (customers) to buy a particular good, so as to satisfy their desire or needs.
This ultimately implies that, behind every purchase made by a consumer, there's a consideration, urge or feeling to satisfy that desire or needs l, this is generally referred to as buying motive.
In Economics, buying motives are classified into five (5) main categories and these include;
I. Acquired and Inherent buying motives.
II. Conscious and Dormant buying motives.
III. Physical, Psychological and Sociological buying motives.
IV. Primary and Selective buying motives.
V. Rational and Emotional buying motives.
A rational buying motive is typically based on the consumer's logical and economical consideration of a product in terms of price, durability, need, quality, etc. Thus, it involves a careful consideration of a product rather than feelings as in emotional buying motive.
Is debtors control a current asset, owners equity, income or current liability
Answer:
I need more explanations
Explanation:
Sunland Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021: Book income before income taxes $2760000 Add temporary difference Construction contract revenue which will reverse in 2022 246000 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years (974400) Taxable income $2031600 Sunland's effective income tax rate is 25% for 2021. What amount should Sunland report in its 2021 income statement as the current provision for income taxes
Answer:
the current provision for income tax is $507,900
Explanation:
The computation of the current provision for income tax is shown below:
= (Income before income tax + temporary difference - depreciation expense) × effective income tax rate
= ($2,760,000 + $246,000 - $974,400) × 0.25
= $507,900
Hence, the current provision for income tax is $507,900
The same would be considered and relevant
On January 1, 2021, the Shagri Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The only interest-bearing debt the company had outstanding during 2021 was long-term bonds with a book value of $10,000,000 and an effective interest rate of 8%. Construction expenditures incurred during 2021 were as follows:
January 1 ...............$ 500,000
March 1 ....................600,000
July 31 ......................480,000
September 30 .........600,000
December 31 ..........300,000
Required:
Calculate the amount of interest capitalized for 2021.
Answer:
Shagri Company
The Amount of Interest Capitalized for 2021 is:
= $108,000
Explanation:
a) Data and Calculations:
Outstanding interest-bearing long-term bonds = $10 million
Effective interest rate = 8%
Construction Expenditures incurred during 2021:
Date Amount incurred Weight Weighted-Average
Expenditure
January 1 $ 500,000 12/12 $500,000
March 1 600,000 10/12 500,000
July 31 480,000 5/12 200,000
September 30 600,000 3/12 150,000
December 31 300,000 0/12 0
Total Weighted-Average Cumulative Expenditure $1,350,000
Amount of interest capitalized for 2021 = $108,000 ($1,350,000 * 8%)
The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents.
January 2, 2015 Paid $86,000 cash to purchase storage shed components.
January 3, 2015 Paid $2,000 cash to have the storage shed erected. The storage
shed has an estimated life of 10 years and a residual value of
$5,000.
April 1, 2015 Paid $40,000 cash to purchase a pickup truck for use in the business.
The truck has an estimated useful life of five years and a residual
value of $3,000.
May 13, 2015 Paid $500 cash for repairs to the pickup truck.
July 1, 2015 Paid $29,000 cash to purchase patent rights on a new paper bag
manufacturing process. The patent is estimated to have a remaining
useful life of five years.
December 31, 2015 Recorded depreciation and amortization on the pickup truck,
storage shed, and patent.
June 30, 2016 Sold the pickup truck for $34,000 cash. (Record the depreciation
on the truck prior to recording its disposal.)
December 31, 2016 Recorded depreciation on the storage shed. Determined that
the patent was impaired and wrote off its remaining book value
(i.e., wrote down the book value to zero).
Record the journal entries for the following:
1. Record the purchase of storage shed components for $86,000.
2. Record the payment of $2,000 to have the storage shed erected
3. Record the purchase of a pickup truck for $40,000.
4. Record the repairs of $500 to the pickup truck.
5. Record the purchase of a patent for $29,000 on a new paper bag manufacturing process
6. Record the depreciation and amortization expense on the pickup truck, storage shed and patent for the year
7. Record the depreciation for the truck up to the date of sale.
8. Record the sale of the pickup truck for $34,000 cash.
9. Record the depreciation on the storage shed for the year.
10. Record any impairment loss incurred on the patent.
Answer:
See the attached excel file for the journal entries.
Explanation:
Note: See Sheet1 of the attached excel file for the journal entries for recording events 1 to 10 as well as the formulae in front of the ones that required calculations.
Note that the double-declining-balance depreciation for buildings is calculated for December 31, 2015 and December 31, 2016 as follows:
As form of definition, double-declining-balance is a depreciation method under which an asset is depreciated at twice the rate of the straight line depreciation method.
The depreciation rate for the building is therefore obtained as follows:
Straight line depreciation rate = 1 / Number of estimated life = 1 / 10 = 0.10, or 20%
Double-declining depreciation rate = Straight line depreciation rate * 2 = 10% * 2 = 20%
Total cost of building = $86,000 + $2,000 = $88,000
Depreciation expense on building on December 31, 2015 = Total cost of building * Double-declining depreciation rate = $88,000 * 20% = $17,600
Beginning value of Building on on January 1, 2016 = Total cost of building - Depreciation expense on building on December 31, 2015 = $88,000 - $17,600 = $70,400
Depreciation expense on building on December 31, 2016 = Beginning value of Building on on January 1, 2016 * Double-declining depreciation rate = $70,400 * 20% = $14,080
Additional Note:
See Sheet2 of the attached excel file for how the calculation of Building Depreciation Expenses Using Double-declining balance for the whole of estimated life of 10 years is done. Note that the $5,000 End year book value in Year 10 is the Salvage value and the Year 10 Accumulated depreciation is $83,000 which is the depreciable part of the $88,000.
Lastly, the Year 10 depreciation expense is calculated as follows:
Year 10 depreciation expense = Year 10 Beginning depeciable amount - Salvage value = $11,811 - $5,000 = $6,811
Which of the following statements correctly explains Net present value: is the best method of analyzing mutually exclusive projects. is very similar in its methodology to the average accounting return. cannot be applied when comparing mutually exclusive projects. is less useful than the internal rate of return when comparing different-sized projects. is the easiest method of evaluation for nonfinancial managers.
Answer:
is the best method of analyzing mutually exclusive projects
Explanation:
The net present value would be considered the best method of capital budgeting to evaluate projects.
Also, it considers the time value of money. It represent to be a good indicator of firm profitability and rise the shareholder wealth.
So according to the given options, it would be considered the best method for analyzing the projects that are mutually exclusive
hence the first option is correct
Meadow is getting ready to attend college next year. She's thinking about ways to pay for it. Which of these is the best first step for her to take in planning her finances? A) apply for the work-study program at the college B) apply for as many scholarships as possible C) apply for a Perkins Loan Eliminate D) apply for a bank loan
Answer:
its b
Explanation:
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Since Meadow has to start attending college the first step to be taken by her has been to apply for as many as scholarships. Thus, option B is correct.
To pay the payment of the college there have been ways that aid financially. The programs may help you earn while studying, or being a bright student the financial aid cab be provided.
The options suits for the planning to pay the expenses are:
A. Apply for the Work-study program at the college:
At the Federal Work-study program, the students in colleges are allowed to work part-time to help them financially.
B. Apply for as many as scholarships:
The scholarships have been the financial aid provided by the government, private organizations, and educational institutes for the students to continue their education.
C. Apply for a Perkins Loan Eliminate:
It has been the low-interest rate scheme provided to the students in the financial need to continue their education. It has been a kind of loan service.
D. Apply for a bank loan:
Bank loan has been the assistance provided by the banks at the interest rate for a specific time of education.
Since Meadow has to start attending college the first step to be taken by her has been to apply for as many as scholarships. Thus, option B is correct.
For more information about financial help, refer to the link:
https://brainly.com/question/9588983
In the short run or in shorter time periods supply curves tend to:_______
a) be perfectly elastic
b) be more inelastic than supply curves that apply to longer periods of time
c) be more elastic than supply curves that apply to longer periods of time
d) have a price elasticity of supply that's approximately equal to 1
Answer:
b) be more inelastic than supply curves that apply to longer periods of time.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply. In order to understand both short-run economic fluctuations and how the economy move from short to long run, we need the aggregate supply and aggregate demand model.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
In the short run or in shorter time periods supply curves tend to be more inelastic than supply curves that apply to longer periods of time.
This ultimately implies that, a rightward shift in the aggregate supply (AS) curve causes output to increase and result in a price fall (lower price), in the short run.
However, in the long-run or in longer time periods, supply curves tend to be fairly elastic than supply curves that apply to shorter periods of time.
Can someone help me please
What are 7 or more ways to have good credit
Answer:
Only Borrow What You Can Afford. Jose Luis Pelaez / Getty Images. ...
Use Only a Small Amount of the Credit You Have Available. People Images / Getty Images. ...
Start With Only One Credit Card. ...
Pay Your Credit Card Balance in Full. ...
Make All Your Payments on Time. ...
If You Carry a Balance, Do It the Right Way. ...
Let Your Accounts Age.
Explanation:
what is the yearly salary or hourly wage of a librarian?
Answer
$23–43per hour
Librarian
United States
$34k–78kper year
Librarian
Chicago, IL
Explanation:
Two best friends, Thelma and Louise, are making long-range plans for a road trip vacation to Mexico. They will embark on this adventure in five years and want to invest during the five-year period to earn money for the trip. They decide to purchase a $1,000 Grand Canyon Oil Company bond with an annual coupon rate of 10 percent with interest to be paid semiannually. The bond will mature in five years. The YTM of similar bonds is 8 percent. How much should they be willing to pay for the bond if they purchase it today
Answer:
Bond Price= $1,081.1
Explanation:
Giving the following formula:
Face value= $1,000
Number of periods= 5*2= 10 semesters
Coupon= (0.1/2)*1,000= $50
YTM= 0.08/2= 0.04
To calculate the price of the bond, we need to use the following formula:
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond Price= 50*{[1 - (1.04^-10)] / 0.04} + [1,000 / (1.04^10)]
Bond Price= 405.54 + 675.56
Bond Price= $1,081.1
Desert Company purchased land to be used as a factory site for $1,250,000. Desert paid $120,000 to tear down two buildings on the land. Salvage was sold for $8,000. Legal fees of $5,220 were paid for title investigation and making the land purchase. Architect’s fees were $46,800. Title insurance cost $3,600 and liability insurance during construction cost $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. Landscaping cost $9,600. Interest costs during construction were $255,000.
The cost of the building that should be recorded by Wilson Co. is:_________
Answer:
$4,269,950
Explanation:
The Cost of an asset include Purchase Cost and other costs directly incurred to put the asset in the location and condition intended for use by management.
Calculation of Cost of the Building :
Architect’s fees $46,800
Insurance $3,600
liability insurance $3,900
Excavation $15,660
Contractor $4,200,000
Total $4,269,950
Therefore,
The cost of the building that should be recorded by Wilson Co. is $4,269,950
Required:
1. Compute the company’s net sales for the year.
2. Compute the company’s total cost of merchandise purchased for the year.
3. Prepare a multiple-step income statement that includes separate categories for net sales, cost of goods sold, selling expenses, and general and administrative expenses.
4. Prepare a single-step income statement that includes these expense categories: cost of goods sold, selling expenses, and general and administrative expenses.
Valley Company's adjusted trial balance on August 31, 2018, its fiscal year-end, follows.
Debit Credit
Merchandise inventory $ 33,500
Other (noninventory) assets 134,000
Total liabilities $ 38,693
Common stock 10,000
Retained earnings 102,124
Dividends 8,000
Sales 229,140
Sales discounts 3506
Sales return and allowances 15123
Cost of goods sold 89129
Sales salaries expense 31392
Rent expense selling space 10770
Store supplies expense 2750
Advertising expense 19477
Office salaries expense 28647
Rent expense office space 2750
Office supplies expense 917
Totals $379,957 $379,957
On August 31, 2017, merchandise inventory was $27,035. Supplementary records of merchandising activities for the year ended August 31, 2018, reveal the following itemized costs.
Invoice cost of merchandise purchase 98490
Purchase discounts received 2068
Purchase returns and allowances 4728
Costs of transportation-in 3900
Answer:
Valley Company
1. The company's net sales for the year is:
= $210,511.
2. The company's total cost of merchandise purchased for the year is:
= $95,594.
3. Multiple-step Income Statement for the year ended August 31, 2018
Sales 229,140
Sales discounts (3,506)
Sales return and allowances (15,123)
Net Sales 210,511
Cost of goods sold:
Beginning inventory $ 33,500
Purchases 95,594
Goods available for sale $129,094
Less Ending inventory 27,035 89,129
Gross profit 121,382
Selling Expenses:
Sales salaries expense 31,392
Rent expense selling space 10,770
Store supplies expense 2,750
Advertising expense 19,477 64,389
General and Administrative Expenses:
Office salaries expense 28,647
Rent expense office space 2,750
Office supplies expense 917 32,314
Total expenses 96,703
Net Income 24,679
4. Single-step Income Statement for the year ended August 31, 2018
Net Sales 210,511
Cost of goods sold 89,129
Gross profit 121,382
Selling Expenses 64,389
General and Administrative Expenses 32,314
Total expenses 96,703
Net Income 24,679
Explanation:
a) Data and Calculations:
Valley Company's adjusted trial balance on August 31, 2018, its fiscal year-end, follows.
Debit Credit
Merchandise inventory $ 33,500
Other (non-inventory) assets 134,000
Total liabilities $ 38,693
Common stock 10,000
Retained earnings 102,124
Dividends 8,000
Sales 229,140
Sales discounts 3,506
Sales return and allowances 15,123
Cost of goods sold 89,129
Sales salaries expense 31,392
Rent expense selling space 10,770
Store supplies expense 2,750
Advertising expense 19,477
Office salaries expense 28,647
Rent expense office space 2,750
Office supplies expense 917
Totals $379,957 $379,957
Net Sales:
Sales 229,140
Sales discounts (3,506)
Sales return and allowances (15,123)
Net Sales 210,511
Total cost of merchandise purchased:
Purchase 98,490
Purchase discounts received (2,068)
Purchase returns and allowances (4,728)
Costs of transportation-in 3,900
Total cost of purchases = 95,594
2. How does the author analyze the social class relationship
Answer: A focus on objective tsocial class enters a direct determination of a person shotshell based on social economic variables mainly income wealth education occupation a second approach to social class the one that approach to social class that one that occupies here deals with how people put themselves into categories
a company product sells for 170 and has variable cost of 50 associated with the product what is its contribution margin per unit ?
Answer:
Contribution margin per unit = 120 per unit
Explanation:
Given:
Sales price of a unit = 170
Variable cost per unit = 50
Find:
Contribution margin per unit
Computation:
Contribution margin per unit = Sales price of a unit - Variable cost per unit
Contribution margin per unit = 170 - 50
Contribution margin per unit = 120 per unit
Contribution margin ratio = [Contribution margin per unit / Sales price of a unit]100
Contribution margin ratio = [120 / 170]100
Contribution margin ratio = [0.7058]100
Contribution margin ratio = 70.58% (Approx.)
