Answer: credit of $213876.80 to Paid-in Capital in Excess of Par.
Explanation:
First and foremost, we have to calculate the exercised ratio which will be:
= Converted value for bonds / Total value if convertible bonds
= $1250000 / $4050000
= 0.3086
The unamortized premium will then be calculated thus:
= $1250000 + ($288000 × 0.3086) - (1250 × $30 × 30)
= $1250000 + $88876.80 - $1125000
= $213876.80
Therefore, credit of $213876.80 to Paid-in Capital in Excess of Par.
What is the difference between profit and revenue?
A. Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.
B. Revenue is the total amount producers earn after subtracting the production costs. Profit is the total amount producers receive after selling a good.
C. Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers earn after subtracting the production costs.
D. Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers receive after selling a good
The correct answer on edge is A
Let's say, to produce one pencil you used $10. This is the cost of the product. You sell this pencil at a price of $15. $15 is your revenue, while $5 would be your profit, because 15-10 = 5.
The answer is correct.
Suppose that there are two types of employees: Narutos and Sasukes. Employers cannot distinguish between the two types during a job. interview, but they value Narutos more because everyone is more productive around them. Assume that the value of a Sasuke-type employee is $10 and the value of a Naruto type is $20. Also assume that the cost of education for a Sasuke is 2.5y and the cost of education for a Naruto is 2y, where y is years of education. If Narutos make up 25% ofthe population:
a. What is the pooling equilibrium wage?
b. What values of y will lead to a separating equilibrium?
Answer:
Explanation:
From the given information:
The average wage is expected to be paid to both workers since it is difficult tot distinguish between the two types.
w_s = 10
w_N = 20
ω_s = 2.5y
ω_N = 2y
proportion of N types (λ) = 0.25
proportion of S types (1-λ) = 0.75
Thus, the pooling wage = λ_Nw_N + λ_Sw_S
= (0.25 × 20) + (0.75 × 10)
= 5.0 + 7.5
= $12.5
(b)
The separating equilibrium can be computed as follows:
N-type ( High type) : w_N- w_S > ω_N
= 20 - 10 > 2y
2y < 10
y < 5
For an S-type (low type); the cost of education needs to be greater than the increment in wages if the education is acquired.
w_N- w_S > ω_S
If education is acquired, S-type will get wages as of N-types
Thus;
20-10 <2.5y
10 < 2.5y
y > 4
Hence, the value of y= (4,5)
Item1 1 points eBookAskReferencesItem 1 TB MC Qu. 06-91 The following information... The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 8,419 Accounts receivable 70,422 Merchandise inventories 60,362 Prepaid expenses 4,100 Accounts payable $ 14,950 Notes payable 86,638 Other current liabilities 9,500 If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Answer: 42 days
Explanation:
To solve the above question, first, we will have to calculate the debtors turnover ratio which is the date sales uncollected for the year. This will be:
= Sales/Average Accounts Receivables
= $612,000 / $70,422
= 8.69 times
Since we are using 365 days for a year, then the firm's days sales uncollected for the year will be calculated as:
= 365 / 8.69
= 42 days
The police need to have _____ to obtain a search warrant.
absolute certainty
a mere suspicion
no reason
probable cause
Answer:
PROBABLE CAUSE
Explanation:
Suppose that Spain and Austria both produce oil and olives. Spain's opportunity cost of producing a crate of olives is 5 barrels of oil while Austria's opportunity cost of producing a crate of olives is 10 barrels of oil. By comparing the opportunity cost of producing olives in the two countries, you can tell that_________ has a comparative advantage in the production of olives and___________ has a comparative advantage in the production of oil.
Suppose that Spain and Austria consider trading olives and oil with each other. Spain can gain from specialization and trade as long as it receives more than _________of oil for each crate of olives it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than _________of olives for each barrel of Oil it exports to Spain.
Answer:
Spain and Austria
a. Spain
b. Austria
c. 5 barrels of oil
d. 0.5 barrels of olives
Explanation:
Spain enjoys comparative advantage in the production of olives while Austria enjoys comparative advantage in the production of oil because Spain can produce olives at lower costs than Austria while Austria can produce oil more efficiently than Spain. When these two countries specialize in the production of the product that they enjoy comparative advantage, more goods will be produced in total, and they can exchange their surpluses with the other nation.
Edmonco Company produced and sold 45,000 units of a single product last year, with the following results: Sales Revenue $ 1,350,000 Manufacturing costs: Variable 585,000 Fixed 270,000 Selling costs: Variable 40,500 Fixed 54,000 Administrative costs: Variable 184,500 Fixed 108,000 If Edmonco's sales revenues increase 15%, what will be the percentage increase in income before income taxes
Answer:
75%
Explanation:
The computation of the percentage increase in income before income taxes is shown below:
Particulars Current $ Increase at 15% Revised $
Sales revenue 1350000 202500 1552500
Less: Variable cost
Variable manufacturing 585000 87750 672750
Variable selling 40500 6075 46575
variable Admin 184500 27675 212175
Total variable cost 810000 121500 931500
Contribution 540000 81000 621000
Less: Fixed cost
Manufacturing 270000 0 270000
Selling 54000 0 54000
Admin 108000 0 108000
Net income 108000 81000 189000
Now percentage increase in income is
= (81000 ÷ 108000)
= 75%
The percentage increase in Edmonco Company's income before income taxes is 75%.
Data and Calculations:
Production and sales units = 45,000 units
Sales Revenue = $ 1,350,000
Manufacturing costs:
Variable = 585,000
Fixed = 270,000
Total manufacturing costs = $855,000
Selling costs:
Variable 40,500
Fixed 54,000
Total selling costs = $94,500
Administrative costs:
Variable 184,500
Fixed 108,000
Total administrative costs = $292,500
Total variable costs = $810,000 ($585,000 + $40,500 + 184,500)
Total fixed costs = $432,000 ($270,000 + $54,000 + $108,000)
Income Statements
Last Year Projected
Sales Revenue = $ 1,350,000 $1,552,500 ($1,350,000 x 1.15)
Variable costs = 810,000 931,500 ($810,000 x 1.15)
Contribution margin $540,000 $621,000
Fixed costs (432,000) (432,000)
Income before taxes $108,000 $189,000
Increase in income before taxes = $81,000
Percentage increase in income before taxes = 75% ($81,000/$108,000 x 100)
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More and more businesses have integrated social media into every aspect of their communication strategies and there are many recent examples of employees being fired from their jobs for personal social media postings. Discuss the benefits and pitfalls of using social media within businesses and if you think it is ethical for business to fire employees for personal use of social media. How can you monitor and control your own social media activities to prevent such a professional conflict
Explanation:
Social media has directly impacted business in the sense that it has strengthened relations between companies and consumers. The so-called relationship marketing is a strategic tool that companies seek to attract, retain customers and increase their value and position in the market, so it is necessary that the presence of a company in social media is based on positive values for society and posts that generate engagement and identification of the target audience.
The benefits of the use of social media by companies is to increase their value and presence where their potential audience is, it is possible to establish a more direct, flexible and instantaneous communication, as well as to solve consumer problems. But there are also the disadvantages that it is in the case of unethical posts for example, that it can generate a bad reputation for a brand.
In the case of dismissal of employees for personal use of social media, it is an extreme situation that should be discussed in advance and create a manual of policies and ethical conduct that the employee must have when using social media without creating conflicts and a negative image for the company. .
Foster, Inc., purchased a truck by paying $5,000 and borrowing the remaining $30,000 required to complete the transaction. Identify the correct statement(s) based on the transaction.
a. The Company's liabilities will increase by $25,000.
b. The Company's liabilities will decrease by $30,000.
c. Foster Inc.'s assets will decrease by a net amount of $30,000.
d. The Company's liabilities will increase by $30,000.
e. Foster Inc.'s assets will increase by a net amount of $30,000.
f. Foster Inc.'s assets will decrease by a net amount of $25,000.
Answer: c. Foster Inc.'s assets will decrease by a net amount of $30,000.
d. The Company's liabilities will increase by $30,000.
Explanation:
From the question, Foster, Inc., bought a truck by paying $5,000 and then borrowed the remaining $30,000 that was required to complete the transaction.
Since the company borrowed $30,000, this will lead to an increase in the liability of the company by $30,000. Also, it will lead to a reduction in the net assets of the company by a net amount of $30,000
Item9 Time Remaining 34 minutes 55 seconds00:34:55 Item 9 Time Remaining 34 minutes 55 seconds00:34:55 Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume. The company produces a single product. Production volume 13,900 units 15,000 units Direct materials $ 813,150 $ 877,500 Direct labor $ 215,450 $ 232,500 Manufacturing overhead $ 1,011,500 $ 1,024,150 The best estimate of the total variable manufacturing cost per unit is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice
Answer:
$85.50
Explanation:
Particulars Amount Amount Difference
Direct materials $813,150 $877,500 $74,350
Direct labor $215,450 $232,500 $17,050
Manufacturing OH $1,011,500 $1,024,150 $12,650
T.V. Overheads 2040100 2134150 $94,050
Production Volume 13,900 15,000 1,100
Variable Cost per unit $85.50
indicate whether the following responsibilities are either: A - Management's responsibilities B - Audit Committee responsibilities C - Auditor's responsibilities D - Neither Management's, the Audit Committee or the Auditor's responsibility Responsibilities 9. Role of oversight and monitoring 10. Forming and expressing an opinion about whether the financial statement s are presented fairly, in all material respects, inconformity with GAAP 11. Appoint, approve and review external audit function 12. Fairy presenting the financial statements and footnotes in conformity with GAAP 13. Establishing and maintaining an internal control system.
Answer:
A
C
B
D
A
Explanation:
if you have identified a risk, you have?
(a) figured it out how to eliminate it.
(b) recognized that it exists.
(c) publically announced it is a problem.
(d) decided not to reveal it
Answer:
B
Explanation:
you have recognized that it exists, you have not yet eliminated it or made any other decisions.
Jane is 20 years old and is a sophomore at Lake University. She is a full-time student and does not have any gross income. Jane spends the holidays and summers at home with her parents. Her total support for the current tax year is $30,000, including a scholarship for $5,000 to cover her tuition. Jane used $12,000 of her savings, and her grandparents provided $13,000. Which of the following statements regarding the dependency rules for Jane is true?
a. If Jane’s parents (rather than her grandparents) provided the $13,000, then they would not be able to claim Jane as a dependent because Jane provided more than half of her own support.
b. Jane’s grandparents can claim her as a dependent because Jane did not provide more than half of her own support.
c. Jane’s grandparents cannot claim her as a dependent because Jane provided more than half of her own support.
d. Jane is no one’s dependent because she provided more than half of her own support.
Answer:
c. Jane grandparents cannot claim her as a dependent because Jane provided more than half of her own support.
Explanation:
Based on the information given the statements regarding the dependency rules for Jane that is true is Jane grandparents cannot in any way claim Jane as a dependent reason been that Jane provided more than half of her own support due to the fact that she her s total support for is the amount of $30,000 which as well include a scholarship of the amount of $5,000 to help cover tuition in which Jane used the amount of $12,000 of her savings while her grandparents on the other hand only provided the amount of $13,000 out of the Total support of $30,000.
We observe the following annualized yields on four Treasury securities: (75%)
Maturity (years) Yield-to-maturity (%)
0.5 4.00
1 4.50
1.5 5.00
2 5.50
The par is $1000 for all the securities. The one with 0.5-year to mature is a zero coupon bond. Al other securities are coupon-bearing bonds selling at par. Note that, for par bonds, the coupon rate equals YTM. (20 points)
1. Calculate the spot rates for the maturities of 0.5, 1, 1.5, and 2 years.
2. What is the price of a 2-year bond with an 8% annual coupon rate (assume $1000 par)?
3. Suppose a 1-year zero-coupon bond with a par value of S1000 is selling at $900. Is there any arbitrage opportunity? If there is, construct an arbitrage portfolio and show the profit.
4. Calculate the one-period-ahead forward rates from 0 to 0.5, from 0.5 to 1, from 1 to 1.5, and from 1.5 to 2.
5. One year from now, you plan to purchase a then one-year bond with a 1000 par and an 8% annual coupon rate. What is the expected price of the bond? Assume the expectation hypothesis holds. Under the expectation hypothesis, the expected future spot rate equals the forward rate.
Answer:
Explanation:
1.
From the given information;
The spot rate for maturity at 0.5 year [tex](X_1) = 4\%/2 = 2\%[/tex]
The spot rate for maturity at 1 year is:
= [tex]\dfrac{22.5}{(1+X_1)}+ \dfrac{1000 + 22.5}{(1+X_2)^2}=1000[/tex]
= [tex]\dfrac{22.5}{(1+0.02)}+ \dfrac{1000 + 22.5}{(1+X_2)^2}=1000[/tex]
= [tex]\dfrac{22.5}{(1+0.02)}+ \dfrac{1022.5}{(1+X_2)^2}=1000[/tex]
By solving for [tex]X_2[/tex];
[tex]X_2[/tex] = 2.253%
The spot rate for maturity at 1.5 years is:
[tex]= \dfrac{25}{(1+X_1)}+ \dfrac{25}{(1+X_2)^2}+ \dfrac{1000 + 25}{(1+X_3)^3}=1000[/tex]
Solving for [tex]X_3[/tex]
[tex]X_3[/tex] = 2.510%
The spot rate for maturity at 2 years is:
[tex]= \dfrac{27.5}{(1+X_1)}+ \dfrac{27.5}{(1+X_2)^2}+ \dfrac{27.5}{(1+X_3)^3} +\dfrac{1000+27.5}{(1+X_4)^4} =1000[/tex]
By solving for [tex]X_4[/tex];
[tex]X_4[/tex] = 2.770%
Recall that:
Coupon rate = yield to maturity for par bond.
Thus, the annual coupon rates are 4%, 4.5%, 5%, and 5.5% for 0.5, 1, 1.5, 2 years respectively.
2.
For n years, the price of n-bond is:
[tex]= \dfrac{cash \ flow \ at \ year \ 1}{1+X_1}+ \dfrac{cash \ flow \ at \ year \ 2}{(1+X_2)^2}+... + \dfrac{cash \ flow \ at \ year \ b}{(1+X_n)^n}[/tex]
Thus, for 2 years bond implies 4 periods;
∴
[tex]= \dfrac{40}{1+0.02}+ \dfrac{40}{(1+0.02253)^2} + \dfrac{40}{(1+0.0252)^3}+ \dfrac{40}{(1+0.0277)^4}[/tex]
= $1047.024
3.
Suppose there exist no-arbitrage, then the price is:
[tex]= \dfrac{0}{(1+0.02)}+\dfrac{1000}{(1+0.02253)^2}[/tex]
= 956.4183
Since the market price < arbitrage price.
We then consider 0.5, 1-year bonds from the portfolio
Now;
weight 2 × 1000 + weight 2 × 22.5 = 1000
weight 2 × 1022.5 = 1000
weight 2 = 1022.5/1000
weight 2 = 0.976
weight 1 + weight 2 = 1
weight 1 = 1 - weight 2
weight 1 = 1 - 0.976
weight 1 = 0.022
The price of a 0.5-year bond will be:
[tex]= \dfrac{1000}{(1+0.02\%)} \\ \\ =\mathbf{980.39}[/tex]
The price of a 1-year bond will be = 1000
Market value on the bond portfolio = 0.022 × price of 0.5 bond + 0.978 × price 1-year bond = 956.42
= 0.022 × 980.39 + 0.978 × 1000
= 956.42
So, to have arbitrage profit, the investor needs to purchase 1 unit of the 1-year zero-coupon bond as well as 0.022 units of the 0.5-year bond. Then sell 0.978 unit of the 1-year bond.
Then will he be able to have an arbitrage profit of $56.42
4.
The one-period ahead forward rates can be computed as follows:
Foward rate from 0 to 0.5 [tex]X_1[/tex] = 2%
Foward rate from 0.5 to 1
[tex](1+X_2)^2 = (1+X_1) \times (1+ Foward \ rate \ from \ 0.5 \ to \ 1 )[/tex]
[tex](1+0.0225)^2 = (1+0.02) \times (1+ Foward \ rate \ from \ 0.5 \ to \ 1 )[/tex]
Foward rate from 0.5 to 1 = 2.5%
Foward rate from 1 to 1.5
[tex](1+X_3)^3 = (1+X_2)^2 \times (1+ Foward \ rate \ from \ 1 \ to \ 1.5 )[/tex]
[tex](1+0.0251)^3 = (1+0.0225)^3 \times (1+ Foward \ rate \ from \ 1 \ to \ 1.5 )[/tex]
Foward rate from 1 to 1.5 =3.021%
Foward rate from 1.5 to 2
[tex](1+X_4)^4 = (1+X_3)^3 \times (1+ Foward \ rate \ from \ 1.5 \ to \ 2 )[/tex]
[tex](1+0.0277)^4 = (1+0.0251)^3 \times (1+ Foward \ rate \ from \ 1.5 \ to \ 2 )[/tex]
Foward rate from 1.5 to 2 =3.021%
5.
The expected price of the bond if the hypothesis hold :
= [tex]\dfrac{40}{1+ 0.03021}+ \dfrac{1000+40}{(1+0.03285)^2}[/tex]
[tex]= \dfrac{40}{(1.03021)}+ \dfrac{1040}{(1.03285)^2}}[/tex]
= 1013.724254
= 1013.72
Harold lives on Doritos and seafood salads. The price of Doritos is 1 dollar per bag and the price of seafood salads is 2 dollars each. Harold allows himself to spend no more than 11 dollars a day on food. He also restricts his consumption to 6,500 calories per day. There are 1,500 calories in a bag of Doritos and 500 calories in a seafood salad. If he spends his entire money budget each day and consumes no more calories than his calo-rie limit, he can consume up to
a. 3 bag of Doritos per day but no more.
b. 4 bag of seafood salad per day but no more.
c. 5 bag of Doritos per day but no more.
d. 1 bag of Doritos per day but no more.
Answer:
Harold can consume up to:
a. 3 bag of Doritos per day but no more.
Explanation:
a) Data and Calculations:
1 bag of Doritos = $1
1 bag of Doritos contains 1,500 calories
Therefore 3 bags of Doritos = $3
This leaves him with $8 ($11 - $3) to spend on seafood salad for the remaining 2,000 calories
The 3 bags of Doritos enable him to get 4,500 calories (3 * 1,500)
The remaining 2,000 calories, he will now get by consuming 4 seafood salads at a cost of $8 ($2 * 4)
Benjamin is planning to go to graduate school in a program that will take three years. Benjamin wants to have $10,000 available each year for his school and living expenses. If he earns 6% on his investments, approximately how much must be deposited at the start of his studies for him to withdraw $10,000 a year for three years
Answer:
$26,730
Explanation:
The amount to be deposited can be determined by finding the present value of the annuity
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow each year from year 1 to 3 = $10,000
I = 6%
PV = $26,730
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
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The controller (money manager) for a small company puts some money in a bank account paying 3% per year. He uses some additional money, amounting to 1/3 the amount placed in the bank, to buy bonds paying 4% per year. With the balance of the funds, he buys a 9% certificate of deposit. The first year the investments bring a return of $785. If the total of the investments is $10,000 how much is invested at each rate?
Answer:
$1,500 is invested in a bank account paying 3% per year.
$500 is used to buy bonds paying 4% per year.
$8,000 is used to buy 10% certificate of deposit
Explanation:
Let
x = money used to invest in a bank account paying 3% per year
y = money used to buy 10% certificate of deposit
Because the money used to buy bonds (that pays 4% per year) is equal to one-third of the money used to invest in a bank account paying 3% per year,
x/3 = money used to buy bonds (that pays 4% per year)
Because the total investment is $10,000, we add all the variables that represents the amount of money for each investments. So,
(1)
To compute the return of each investment, we change the rate to decimal and multiply it to the amount of investment because the problem only states the return of first year of investment. Then,
0.03x = return from a bank account paying 3% per year
0.04(x/3) = return from a bond paying 4% per year
0.1y = return from 10% certificate of deposit
Since the total return for the first year of investment is $865, we just add the returns of each investment and create the following equation:
Note: In equation (2), we want to have an equation with 3y so that when we subtract equation (1) to equation (2), we only have an equation involving x, which is easier to solve.
By subtracting equation (1) to equation (2),
(4x + 3y) - (1.3x + 3y) = 30,000 - 25,950
2.7x = 4,050
x = $1,500 = amount deposited in a bank account paying 3% per year
So,
x/3 = 1500/3
x/3 = $500 = amount used to buy bonds paying 4% per year
Using the value of x = 1,500 and replacing the value of x in equation (1),
4x + 3y = 30,000
4(1,500) + 3y = 30,000
6,000 + 3y = 30,000
3y = 24,000
y = $8,000 = money used to buy 10% certificate of deposit
In each of the following transactions ( a ) through ( c ) for Romney's Marketing Company, use the three step process illustrated in the chapter to record the adjusting entry at year-end December 31, 2015. The process includes (1) determining if revenue was earned or an expense incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment.
a. Estimated electricity usage at $450 for December; to be paid in January of next year.
b. On September 1 of the current year, loaned $6,000 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 14 percent.
c. Owed wages to 10 employees who worked four days at $200 each per day at the end of the current year. The company will pay employees at the end of the first week of next year.
Answer:
Romney's Marketing Company
Using the three-step process to record the adjusting entry at year-end December 31, 2015:
a1. Expense was incurred
2. Cash will be paid in the future
3. The amount of the adjustment is $450
b1. Revenue was earned at December 31, 2015
2. Cash will be received in the future.
3. The amount of the adjustment is $280.
c1. Expense was incurred.
2. Cash will be paid in the future.
3. The amount of the adjustment is $8,000.
Explanation:
a) Data and Calculations:
Interest receivable = $280 ($6,000 * 14% * 4/12)
b) The three-step process for recording the adjusting entry at year-end:
(1) determining if revenue was earned or an expense incurred.
(2) determining whether cash was received or paid in the past or will be received or paid in the future.
(3) computing the amount of the adjustment.
Key computer issues addressed by the Bureau of Consumer Protection (BCP) include all of the following except _____.
how to increase the amount of "cookies"
how to prevent "scammers," "hackers," and identity theft
how to avoid "malware"
how to protect kids online
Answer:
How to increase the amount of "cookies"
Explanation:
It says it in the notes section. Brainliest?
All of the following are significant computer-related concerns that the Bureau of Consumer Protection (BCP) addresses, with the exception of how to increase the number of "cookies". Thus, option A is the correct answer.
What is a consumer ?Consumers are those who purchase products for their own use and then use or consume them.
The Federal Trade Commission's Bureau of Consumer Protection combats unfair, deceptive, and fraudulent business practices by collecting consumer complaints and conducting investigations. It also sues companies and individuals who violate the law.
One of its main function is to develop rules to ensure a fair marketplace, and educating consumers and businesses about their rights and responsibilities.
Therefore, how to increase the amount of "cookies" is not addressed by the Bureau of Consumer Protection.
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"The 2017 balance sheet of Kerber's Tennis Shop, Inc., showed long-term debt of $3.1 million, and the 2018 balance sheet showed long-term debt of $3.2 million. The 2018 income statement showed an interest expense of $150,000. During 2018, the company had a cash flow to creditors of $50,000 and the cash flow to stockholders for the year was $90,000. Suppose you also know that the firm’s net capital spending for 2018 was $1,340,000, and that the firm reduced its net working capital investment by $63,000. What was the firm’s 2018 operating cash flow, or OCF? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)"
Answer:
$1,417,000
Explanation:
Cash flow from asset = Cash flow to creditors + Cash flow from shareholders = $50000 + $90000 = $140000
Cash flow from asset = Operating cash flow - Net capital spending - Net change in net working capital
$140,000 = Operating cash flow - $1340000 - (-$63000)
$140,000 = Operating cash flow - $1,340,000 + $63,000
Operating cash flow = $140000 + $1,340,000 - $63,000
Operating cash flow = $1,417,000
Laubitz Company begins operations on Apr.1. Information from job cost sheets shows the following:
Manufacturing Costs Assigned
Job Number April May June Month Completed
10 $7,500 $4,400 May
11 $4,100 $6,900 $3,000 June
12 $3,200 April
13 $4,700 $9,400 June
14 $4,400 $3,600 Not complete
Each job was sold for 25% above its cost in the month following completion.
(a) Work in Process Inventory at
April 30: $Answer
May 31: $Answer
(b) Finished Goods Inventory at
April 30: $Answer
May 31: $Answer
(c) Gross Profit for
May: $Answer
June: $Answer
Answer:
1. 2. April 30 $11600
31-May $20100
2. April 30 $3,200
31-May $11,90
3. Profit April 0
May$800
June $2975
Explanation:
1) Calculation for Work in Process Inventory at
April 30 and 31-May
Work in Process Inventory at
April 30=7500+4100
Work in Process Inventory at
April 30=$11600
Work in Process Inventory at31-May =4100+6900+4700+4400
Work in Process Inventory at31-May= $20100
2) Calculation for Finished Goods Inventory at
April 30 and 31-May
Finished Goods Inventory at
April 30: $3,200
Finished Goods Inventory at 31-May =7500+4400
Finished Goods Inventory at 31-May= $11,900
3) Calculation for Gross Profit
Gross Profit April : 0
Gross Profit May =3200*25%
Gross Profit May=800
Gross ProfitJune :- Job 10 =(7500+4400)*25% Gross Profit June 2975
What is exporting?
Introduction to business sem 1
Answer:
it's simply means sending goods to another country
Bryan Inc. produces a specialty top-quality juice machine. The product, the JM50, requires four processes to be completed. Specifically, these processes are exterior construction, pulp filter insertion, painting, and packaging. Each process is performed at separate workstations with different completion rates: Exterior construction can manufacture 100,000 juicer exteriors per day. Pulp filter insertion can install 25,000 filters every 6 hours. Painting can decorate 3,000 juicers every half hour. Packaging can package 5,000 juicers per hour. The plant operates 24/7, 24 hours a day every day of the week. How many JM50 machines can Bryan Inc. manufacture per month (assume an average 30-day month)
Answer:
3,000,000 juicers
Explanation:
Maximum numbers per workstation in 30 days:
Exterior construction = 100,000*30 = 3,000,000
Pulp filter = 25,000*24/6*30 = 3,000,000
Painting = 3,000*24/0.5*30 = 4,320,000
Packaging = 5,000*24*30 = 3,600,000.
The lowest of the numbers above is 3,120,000 and that means that Bryan inc. can manufacture 3,000,000 juicers.
Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1? (b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased? (c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable at December 31, 2019? (d) If $1,600 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2019?
Answer:
A. $800
B. $4,800
August 1, 2019
C.$3,300
$1,500
Explanation:
(a) Calculation for what was the balance in Supplies on January 1
Balance in Supplies on January 1=$950 + $700 - $850
Balance in Supplies on January 1=$800
(b) Calculation for what was the total premium and when was the policy purchased
Total premium=($400 x 12 months)
Total premium= $4,800
Calculation for when was the policy purchased
Prepaid Insurance, 1/31 $2,400
Monthly premium $400
Number of months remaining 6
($2,400/$400)
Hence, The Policy was purchase on August 1, 2019
(c) Salary and Wages Payable at Decemeber 31, 2019 $1,500
Cash Paid $2,500
Salaries and wages payable, 1/31 $800
$3,300
Less: Salaries and wages expense $1,800
Salaries and wages payable, 12/31/19 $1,500
The adjusted trial balance of Novak Corporation at December 31, 2022 includes the following accounts: Retained Earnings $12,852; Dividends $5,100; Service Revenue $30,600; Salaries and Wages Expense $15,300; Insurance Expense $2,040; Rent Expense $4,590; Supplies Expense $510; and Depreciation Expense $1,020. Prepare a retained earnings statement for the year. (List items that increase retained earnings first.)
Answer and Explanation:
The preparation of the retained earnings is presented below:
Novak corporation
Statement of retained earnings
For the year ended Dec 31,2022
Particulars Amount
Opening bal of retained earnings $12,852
Add: Net income $7,140
($30,600 - $15,300 - $2,040 - $4,590 - $510 - $1,020)
Less: dividend paid -$5,100
Ending balance of retained earnings $14,892
During March, the production department of a process operations system completed and transferred to finished goods 21,000 units that were in process at the beginning of March and 210,000 units that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 65% complete with respect to conversion. At the end of March, 40,000 additional units were in process in the production department and were 100% complete with respect to materials and 40% complete with respect to conversion. Compute the number of physical units transferred to finished goods.
Answer:
231,000
Explanation:
Computation for the number of physical units transferred to finished goods.
Using this formula
Transferred Unit = Beginning WIP Units + Units Started
Let plug in the formula
Transferred Unit = 21,000 + 210,000
Transferred Unit = 231,000
Therefore the number of physical units transferred to finished goods will be 231,000
Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management December 2011 of a circuit flaw in an amplifier that poses a potential fire hazard. An intense investigation indicated that a product recall is virtually certain, estimated to cost the company $2 million. The fiscal year ends on December 31.
Required:
1. Should this loss contingency be accrued, disclosed only, or neither? Explain.
2. What loss, if any, should Sound Audio report in its 2011 income statement?
3. What liability, if any, should Sound Audio report in its 2011 balance sheet?
4. Prepare any journal entry needed.
Answer:
1. Accrued
2. $2 Million
3. $2 Million
4. Dr Loss product recall (Expense) $2 Million
Cr Liability product recall (Liability) $2 Million
Explanation:
1. Yes, Based on the information given this loss contingency should be accrued reason been that all the necessary requirement are met and secondly the loss is tend to be probably and lastly the said amount can be estimated which is why the recorded liability is accrued.
2. The loss that Sound Audio should report in its 2011 income statement is $2 Million
3. The liability that Sound Audio should report in its 2011 balance sheet would also be $2 Million
4.Preparation of any journal entry needed
Dr Loss product recall (Expense) $2 Million
Cr Liability product recall (Liability) $2 Million
What drives the beef industry to feed so much grain feeding? Explain
Answer:
they gert paid decent ammount of money for it
Explanation:
for you why entrepreneurship is important?
Answer:
Entrepreneurship has no power and has changed nothing. It is just a word which refers to the act of creating, owing, operating and maintaining an enterprise at one’s own risk. That’s all; there is nothing more. Because there are usually some special personality and psychological traits which compel and sustain people to take the risks associated with having their own enterprise, not everyone is “cut out” to be an “entrepreneur.”
I can do something I love, even though after doing it for too long it is less fun.
A shot in financial independence.
It's an adventure. It doesn't feel like work.
No boss.
DEMAND WORKSHEET Exercise 4: Identifying the determinants of demand. You have seen have how an increase in demand is depicted on a graph by a shift in the demand curve. When the demand curve shifts upward and to the right this is indicative of an increase in demand When the demand curve shifts to the left, this is indicative of a decrease in demand. Factors that result in a change in demand are the determinants of demand. Complete the table below. For each determinant of demand: indicate whether demand will increase or decrease provide an explanation as to why
Answer:
hi
Explanation:
You are an employee of an US firm that produces personal computers in Thailand and then exports them to the US and other countries for sale. The personal computers were originally produced in Thailand to take advantage of relatively low labor costs and a skilled workforce. Other possible locations considered at that time were Malaysia and Hong Kong. The US government decides to impose punitive 100% ad valorem tariffs on imports of computers from Thailand to punish the country for administrative trade barriers that restrict US exports to Thailand. How should your firm respond? What does this tell you about the use of targeted trade barriers?
Answer:
In the short-run, I will encourage my firm to export the computers to Canada first, directly from Thailand. From Canada, the computers can be exported into the USA. But this is not the long-term solution. There will be need to find another country in which production will be cost-effective and from which the goods can be exported directly into the USA.
Another approach would be to engage in lobbying, within acceptable rules, the governments of Thailand and the US to end the administrative barriers.
Explanation:
There is no single economy that benefits from trade restrictions. Therefore, every effort should be made to reduce, to the barest minimum, all forms of trade barriers, which stunt economic growth and development. Give and take, in the spirit of competition, should be encouraged at all times.
