Answer:
Cash balance= $500
Explanation:
Giving the following information:
Started her business baking dog treats by investing cash of $1,000.
Had revenues of $3,000.
She paid her assistant $1,000 in cash.
The business paid cash dividends of $500.
The cash account is affected by every entrance or exit of money. For example, if a purchase is made on account, the cash balance is not affected.
Cash balance= -1,000 + 3,000 - 1,000 - 500
Cash balance= $500
The balance in cash at the end of the month is $500.
Calculation of the closing cash balance:Since Jenna Jeffries started her business baking dog treats by investing cash of $1,000. During May, its first month of operations, Jenna's Barkery had revenues of $3,000, all of which was collected in cash. She paid her assistant $1,000 in cash and purchased $200 of supplies on account. The business paid cash dividends of $500.
So, the ending cash balance is
= -1,000 + 3,000 - 1,000 - 500
= $500
Hence, the balance in cash at the end of the month is $500.
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The original purpose of counties was to?
Answer:
The original purpose of the counties was to establish an intermediate governmental structure between that of the cities and that of the states, bringing together several cities in a single entity, the County, which would centralize basic services such as courts, hospitals, universities, etc. and it would represent these cities before the State in a more forceful way than if each city did so on its own initiative.
Direct Materials Variances Bellingham Company produces a product that requires 16 standard pounds per unit. The standard price is $9 per pound. If 2,400 units required 39,600 pounds, which were purchased at $8.64 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) total direct materials cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Answer:
Results are below.
Explanation:
To calculate the direct material price and quantity variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (9 - 8.64)*39,600
Direct material price variance= $14,256 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (2,400*16 - 39,600)*9
Direct material quantity variance= -$10,800 unfavorable
Total variance= 14,256 - 10,800
Total variance= $3,456 favorable
n the following list are a number of well-known companies and the products that they sell. Which of the four types of markets (pure monopoly, oligopoly, monopolistic competition, perfect competition) best characterizes the markets in which they compete? Explain why. a) McDonald's- hamburgers b) ExxonMobil- gas c) Dell- personal computers d) Heinz- ketchup e) Proctor & Gamble- disposable diapers f) Starbucks- gourmet coffee g) Domino’s- pizza h) Intel- computer chip for the PC (p. 381 #9)
Answer:
Monopolistic Competition is the type of market that characterizes the markets in which the following compete:
a) McDonald's- hamburgers
b) ExxonMobil- gas
c) Dell- personal computers
d) Heinz- ketchup
e) Procter & Gamble- disposable diapers
f) Starbucks- gourmet coffee
g) Domino’s- pizza
h) Intel- computer chip for the PC
2. The reason for this choice is that there is no perfect competition in any market. It remains an ideal. The products of these firms are not perfect substitutes. The firms do not have equal market share and control in their respective markets or industry. Lastly, there is no single producer in any of the markets.
Explanation:
Types of markets:
Pure monopoly = a single producer with no substitute product or service.
Oligopoly = two or more firms in an industry with equal market share and control.
Monopolistic competition = Many firms offering similar products that are not perfect substitutes
Perfect competition = Many firms offering similar products that are perfect substitute.
After reviewing the rhetorical fallacies, can you think of a specific time when you heard a speaker employ one of these fallacies? Which fallacy did they use? Why should you avoid fallacies in your own speeches?
Answer:
they can be bad because they can / will confuse people especially the public
Ryan Corporation manufactures auto steering systems. Cost estimates for one unit of the product for the year follow:
Direct materials $200
Direct labor ($12/hour) $300
Machine hours 20
This product requires 15 hours of direct labor in Department A and 10 hours in Department B. Also, it requires 5 machine hours in Department A and 15 machine hours in Department B.
The factory overhead costs estimated in these two departments follow:
Variable cost Fixed cost
A $ 150,000 94,000
B $ 80,000 163,000
Management expects the firm to produce 1,000 units during the year.
Required
1. Assume that factory overhead was applied on the basis of direct labor hours. Compute the predetermined plantwide factory overhead rate.
2. If factory overhead were applied on the basis of machine hours, what would be the plantwide overhead rate?
3. If the company produced 1,000 units during the year, what was the total amount of applied factory over-head in each department in requirements 1 and 2?
4. If you were asked to evaluate the performance of each department manager, which allocation basis (cost driver) would you use? Why?
5. Compute the departmental overhead rate and amount of applied overhead for Department A using direct labor hours as the allocation base and for Department B using machine hours as the allocation base.
1) The predetermined plantwide factory overhead rate based on direct labor hours is $10.28.
2) The predetermined plantwide factory overhead rate based on machine hours = $12.85 ($257,000/20,000)
3) The total applied factory overhead:Department A Department B Total
Requirement 1 $154,200 $102,800 $257,000
Requirement 2 64,250 192,750 257,000
4. The allocation basis for Department A should be direct labor hours. The department is more labor-intensive. The allocation basis for Department B should be machine hours as it is more machine-intensive.
5) The computation of the departmental overhead rate and amount of applied overhead for Department A using direct labor hours as the allocation base and for Department B using machine hours as the allocation base is as follows:
Department A Department B
Direct labor hours 15,000
Machine hours 15,000
Fixed factory overheads $94,000 $163,000
Departmental overhead rate $6.27 $10.87 ($163,000/15,000)
Applied Overhead $154,200 $192,750
($10.28 x 15,000) ($12.85 x 15,000)
Data and Calculations:Cost of One Unit:
Direct materials $200
Direct labor ($12/hour) $300
Direct labor hour per unit = 25 hours ($300/$12)
Total direct labor hours = 25,000 (25 x 1,000)
Total machine hours = 20,000 (20 x 1,000)
Department A Department B Total
Direct labor hours 15 10 25
Machine hours 5 15 20
Variable factory overheads $150,000 $80,000 $230,000
Fixed factory overheads 94,000 163,000 257,000
Total annual production units = 1,000 units
1) Predetermined plantwide factory overhead rate based on direct labor hours = $10.28 ($257,000/25,000)
2) Predetermined plantwide factory overhead rate based on machine hours = $12.85 ($257,000/20,000)
3) Total applied factory overhead:Department A Department B Total
Direct labor hours $154,200 $102,800 $257,000
Machine hours 64,250 192,750 257,000
5) Departmental Overhead Rate and Applied Overhead:
Department A Department B
Direct labor hours 15,000
Machine hours 15,000
Fixed factory overheads $94,000 $163,000
Departmental overhead rate $6.27 $10.87 ($163,000/15,000)
Applied Overhead $154,200 $192,750
($10.28 x 15,000) ($12.85 x 15,000)
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Sandhill Co. began operations on January 2, 2020. It employs 13 people who work 8-hour days. Each employee earns 11 paid vacation days annually. Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was $19 in 2020 and $20.25 in 2021. The average vacation days used by each employee in 2021 was 10. Sandhill Co. accrues the cost of compensated absences at rates of pay in effect when earned.
Prepare journal entries to record the transactions related to paid vacation days during 2020 and 2021.
Answer:
2020
Dr Wages expense $21,836
Cr To vacation wages payable $18,720
On 2021
Dr Wages expense $1,300
Dr Vacation wages payable $19,760
Cr Cash $21,060
2021
Dr Wages expense $23,166
Cr To vacation wages payable $23,166
Explanation:
Preparation of the journal entries to record the transactions related to paid vacation days during 2020 and 2021.
2020
Dr Wages expense $21,836
(13 × 8 hrs × 11 days × $19)
Cr To vacation wages payable $18,720
(Being to record wages expense )
2021
Dr Wages expense $1,300
($21,060-$19,760)
Dr Vacation wages payable $19,760
(13 × 8 hrs × 10 days × $19)
Cr Cash $21,060
(13 × 8 hrs × 10 days × $20.25)
(Being to record cash paid )
2021
Dr Wages expense $23,166
(13 × 8 hrs × 11 days × $20.25)
Cr To vacation wages payable $23,166
(Being to record wages expense )
A Herfindahl-Hirschman Index is calculated by
A. summing the advertising expenditures of the firms that want to merge by total industry advertising expenditures.
B. summing the amount of sales by the four largest firms and dividing by total industry sales.
C. dividing the number of firms wanting to merge by the total number in the industry.
D. summing the squares of the market shares of each firm in the industry.
Answer:
Option D: Summing the squares of the market shares of each firm in the industry.
Explanation:
The Herfindahl-Hirschman index (HHI) is a use worldwide as measure of market concentration. It's calculation is based on squaring the market share of each firm competing in a market, and thereafter the resulting numbers are summed up. It commonly range known is simply from zero to 10,000. It is used by U.S. Department of Justice uses for potential mergers issues evaluation. It is a measure of industry concentration by the sum of the squares of the market shares held by each of the firms in the industry.
The Herfindahl index shows a decrease in competition and an increase of market power, when there is an increase and decreases is the opposite.
Last year Kruse Corp had $440,000 of assets (which is equal to its total invested capital), $403,000 of sales, $28,250 of net income, and a debt-to-total-capital ratio of 39%. The new CFO believes the firm has excessive fixed assets and inventory that could be sold, enabling it to reduce its total assets and total invested capital to $252,500. The firm finances using only debt and common equity. Sales, costs, and net income would not be affected, and the firm would maintain the same capital structure (but with less total debt). By how much would the reduction in assets improve the ROE
Answer:
The reduction in assets would improve the ROE by 7.81%.
Explanation:
This can be calculated as follows:
Previous equity = (100% - Debt-to-total-capital ratio) * Previous total invested capital = (100% - 39%) * $440,000 = 61% * $440,000 = $268,400
Previous return on equity (ROE) = (Net income / Previous equity) * 100 = ($28,250 / $268,400) * 100 = 10.53%
New equity = (100% - Debt-to-total-capital ratio) * New total invested capital = (100% - 39%) * $252,500 = 61% * $252,500 = $154,025
New ROE = (Net income / New equity) * 100 = ($28,250 / $154,025) * 100 = 18.34%
Change in ROE = New ROE - Previous ROE = 18.34% - 10.53% = 7.81%
Since change in ROE is 7.81% and positive, this implies that the reduction in assets would improve the ROE by 7.81%.
Membership in the Cape Fear Health Club has been recorded for the past nine years. Management wants to determine the trend of membership in order to project future space needs. This estimate would help the club determine whether a future expansion will be needed. Given the following time series data, develop a regression equation relating memberships to years. Based on your regression equation, what is your forecast for 2020 memberships? Memberships are in hundreds.
Year > 2011 2012 2013 2014 2015 2016 2017 2018 2019
#'s > 11 13 15 17 16 18 20 19 23
a. 22.b. 24.6.c. 23.3.d. 11.e. 25.9.
Answer:
c). 23.3
Explanation:
Period Demand X Y XY [tex]$X^2$[/tex]
1 11 1 11 11 1
2 13 2 13 26 4
3 15 3 15 45 9
4 17 4 17 68 16
5 16 5 16 80 25
6 18 6 18 108 36
7 20 7 20 140 49
8 19 8 19 152 64
9 23 9 23 207 81
∑ 45 152 837 285
Intercept[tex]$(B_0) = \Sigma Y \times \Sigma X^2 - \Sigma X \times \frac{\Sigma XY}{(N\times \Sigma X^2 - \Sigma X^2)} $[/tex]
Intercept [tex]$= (152\times 285)-\frac{45 \times 837}{(9 \times 285)-45^2}$[/tex]
= 10.47
Slope [tex]$(B_1)= ((N\times \Sigma XY) - (\Sigma X \times \Sigma Y)-(N \times \SIgma X^2 - \Sigma X^2)$[/tex]
Slope [tex]$=((9\times837)-\frac{(45 \times 152)}{(9 \times 285)-45^2} $[/tex]
= 1.28
Therefore, the equation is
Y = intercept + slope(X)
[tex]$Y=10.47 + (1.25 \times X)$[/tex]
For [tex]$X=10$[/tex] forecast [tex]$= 10.47 + (1.28 \times 10)$[/tex]
= 23.27 or 23.3
An organization expresses its reason for being, what it aspires to be, and the values it wants to emphasize in its mission, vision, and values statements, respectively. This activity is important because these three statements are the necessary foundation for a successful organizational planning process.
The goal of this exercise is to challenge your knowledge of important components of organizational mission, vision, and values statements.
Read the descriptions and select whether the description pertains to a mission, vision, or value statement.
1. Describes the image the organization wants to project
Values Statement Vision Statement Mission Statement
2. Inspires enthusiasm and encourages commitment
Vision Statement Values Statement Mission Statement
3. Illuminates the organization’s attitude toward its employees
Values Statement Vision Statement Mission Statement
4. Is intended to guide all of the actions in the organization
Vision Statement Mission Statement Values Statement
5. Is easily understood and well-articulated
Vision Statement Mission Statement Values Statement
6. Outlines the organization’s customer base
Values Statement Vision Statement Mission Statement
7. Expresses the company’s worldview
Vision Statement Mission Statement Values Statement
8. Is appropriate for the times and for the organization
Mission Statement Values Statement Vision Statement
9. Limits itself to a small number that employees can recall when making decisions
Mission Statement Vision Statement Values Statement
10. Articulates the geographical locations where the company competes
Vision Statement Mission Statement Values Statement
11. Unchanging; As applicable in 100 years as it is today
Vision Statement Mission Statement Values Statement
12. Reflects high ideals
Mission Statement Vision Statement Values Statement
Answer:
1. Describes the image the organization wants to project
Statement: Mission Statement
2. Inspires enthusiasm and encourages commitment
Statement: Vision Statement
3. Illuminates the organization’s attitude toward its employees
Statement: Mission Statement
4. Is intended to guide all of the actions in the organization
Statement: Values Statement
5. Is easily understood and well-articulated
Statement: Vision Statement
6. Outlines the organization’s customer base
Statement: Mission Statement
7. Expresses the company’s worldview
Statement: Values Statement
8. Is appropriate for the times and for the organization
Statement: Vision Statement
9. Limits itself to a small number that employees can recall when making decisions
Statement: Values Statement
10. Articulates the geographical locations where the company competes
Statement: Mission Statement
11. Unchanging; As applicable in 100 years as it is today
Statement: Values Statement
12. Reflects high ideals
Statement: Vision Statement
A company owns a 5-year old turret lathe that has a book value of $25,000. The present market value for the lathe is $16,000. The expected decline in market value is $2,000/year to a minimum market value of $4000. maintenance plus operating costs for the lathe equal $4,200/year. A new turret lathe can be purchased for $45,000 and will have an expected life of 8 years. The market value for the turret lathe is expected to equal $45,000(0.70)k at the end of year k. Annual maintenance and operating cost is expected to equal $1,600.
Based on a 12% before-tax MARR, should the old lathe be replaced now? Use an equivalent uniform annual cost comparison, a planning horizon of 7 years, and the cash flow approach.
Answer:
old lathe should not be replaced now
Explanation:
Using MARR of 12%
Price decline of 2000 per year ; salvage value = (present market value - does cline per year)
Present market value of old lathe = $16000
Opening market value at year end = (16000 * 1.12) = 17920
Add: Maintainace plus operating cost = $4200 / year
Salvage value = 16000 - 2000 = 14000
Annual cost : (Opening market value + operating cost - salvage value)
Annual cost :
Year 1 = (17920 + 4200 - 14000) = 8120
Year 2:
Opening market value at year end = (14000 * 1.12) = 15680
Salvage value = (14000 - 2000) = 12000
Annual cost :
Year 1 = (15680 + 4200 - 12000) = 7880
Year 3:
Opening market value at year end = (12000 * 1.12) = 13440
Salvage value = (12000 - 2000) = 10000
Annual cost :
Year 1 = (13440 + 4200 - 10000) = 7640
Year 4:
Opening market value at year end = (10000 * 1.12) = 11200
Salvage value = (10000 - 2000) = 8000
Annual cost :
Year 1 = (11200 + 4200 - 8000) = 7400
New machine :
Opening market value of year end = (45000 * 1.12) = 50,400
Add : Maintenance plus Operating expense = $1600
Salvage value = 45000 * 0.7 = 31500
Annual cost :
50400 + 1600 - 31500
= 20500
New machine has a far greater annual cost thb the old, hence the old machine should still be used for now.
How do you make people interested in your business?
Identify Your Ideal Client. It's easier to look for customers if you know the type of consumers you seek.
Discover Where Your Customer Lives.
Know Your Business Inside and Out.
Position Yourself as the Answer.
Try Direct Response Marketing.
Build Partnerships.
Follow Up.
Attract New Customers Using Social Media. Optimizing your social media accounts takes very little time to do and can significantly increase your reach.
Improve Website SEO.
Engage with Loyal Customers.
Collaborate with Local Business Partners.
Social Media Giveaways.
Explanation:
Ask for referralsNetworkoffer discounts and incentive for new customers onlyRe- contact old customersImprove your websitepartners with complementary businesspromote your expertiseuse online reviews to your advantageYour company is evaluating four locations in South America for its new manufacturing center. The ratings for each location are provided below using a rating system of 1 (least desirable) to 100 (most desirable) to evaluate each factor. Factor Weight Rating Scale (1-100) Brazil Chile Paraguay Bolivia Market Size 0.25 95 60 50 35 Future demand 0.25 90 70 50 35 Incentives 0.20 80 80 70 60 Per capita income 0.15 70 80 40 40 Political risk 0.05 70 90 70 70 Exchange rate 0.05 80 80 40 40 Labor climate 0.05 90 70 70 75 Using only the results of a multi-criteria analysis, which location should you recommend
The organizational structure is sometimes used in conjunction with the traditional line-and-staff structure.
A. functional
B. product
C. process
D. matrix
It is generally recognized that the spending habits of individuals changes over their lives. In general, young adults tend to spend__________ than they earn, while older adults tend to spend_________. To accommodate their spending habits, young adults tend to rely on funds raised from__________. Retired adults, in contrast, tend to rely on_________ to cover the frequent shortage between their current expenditures and their current incomes.
Answer:
1. more
2. less
3. borrowing
4. past savings
Explanation:
It is generally recognized that the spending habits of individuals changes over their lives. In general, young adults tend to spend more than they earn, while older adults tend to spend less. To accommodate their spending habits, young adults tend to rely on funds raised from borrowing . Retired adults, in contrast, tend to rely on past savings to cover the frequent shortage between their current expenditures and their current incomes.
Thoughts about how eren is acting in attack on titan? Is he the villain or the hero? Also if he touches hangi again I am gonna scream !!!!
Answer:
I would say he is the hero with a possible dark side i can't really say cause i haven't watched a lot but he definitely has a lot going on
Explanation:
Answer:
I have mixed feelings
ATTACK ON TITAN SPOILER WARNING
I dont really agree with what he is doing, he used to protect his friends at all costs and dint want Armin and Mikasa to join the scouts because he did not want them to get hurt or die. He tried his best to make sure his friends were safe in seasons 1-3, but now he puts them in harm's way just to succeed with his plan. Sasha has to pay the price of Eren's recklessness, and all of the scouts are starting to doubt Eren. I feel like Eren has lost himself in the process of trying to gain freedom. I still love Eren, but I don't compeletly agree with him. That man just needs a hug. He's tired of this war.
​"A permanent increase in government purchases has a larger effect than a temporary increase of the same​ amount." Use the​ saving-investment diagram to evaluate this​ statement, focusing on effects on​ consumption, investment, and the real interest rate for a fixed level of output. ​(​Hint: The permanent increase in government purchases implies larger increases in current and future taxes​.)
Answer:
here
Explanation:
According to economists, all humans have their own "rational self-interest." What does this mean?
A.) They want to help others rather than help themselves.
B.) They will only make rational and logical decisions about purchases.
C.) They want to benefit themselves as much as possible.
D.) They will only make a purchase if it is involving their top three interests.
They want to benefit themselves as much as possible.
The gross domestic product (GDP) of the United States is defined as the all in a given year. Based on this definition, which of the following will be included in (that is, directly increase) the GDP of the United States in 2017?
a. Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2017. It sells the table to a college student on December 19, 2017. An accountant starts a client's 2017 tax return on April 14, 2018, finishing it just before midnight on April 15, 2018.
b. Treetopplers, an American lumber company, produces wood at a plant in Oregon on September 5, 2017. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be made in the United States In December.
c. Athleticus, an American shoe company, produces a pair of sneakers at a plant in Vietnam on March 5, 2017. Athleticus imports the pair of sneakers into the United States on May 14, 2017.
d. Zippy car, an American automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 6, 2017. It sells the car at a dealership in Philadelphia on February 18, 2017.
Explanation:
GDP is defined as the value of all final goods and services that were produced In the US within a given year.
With this in mind,
A. Sofaland would be included in the GDP of the US, since the table was made and sold in the US in 2017.
B. The finished tax return by the accountant would not be included in the GDP as production for 2018 as it is not yet finished.
C. The lumber company treetopplers would not be included as part of the GDP since the production of lumber cannot be regarded as final good.
D. Athleticism"s importation from Vietnam to the US is not part of gdp since it is not domestic production.
E. Zippycar made the car in the us and sold in the US same year. This would be included in gdp of US.
Suppose that Portugal and Austria both produce beer and cheese. Portugal's opportunity cost of producing a pound of cheese is 3 barrels of beer while Austria's opportunity cost of producing a pound of cheese is 11 barrels of beer.
By comparing the opportunity cost of producing cheese in the two countries, you can tell that_______has a comparative advantage in the production of cheese and _______ has a comparative advantage in the production of beer.
Suppose that Portugal and Austria consider trading cheese and beer with each other. Portugal can gain from specialization and trade as long as it receives more than_______of beer for each pound of cheese it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than _______ of cheese for each barrel of beer it exports to Portugal.
Based on your answer to the last question, which of the following prices of trade (that is, price of cheese in terms of beer) would allow both Austria and Portugal to gain from trade?
A. 4 barrels of beer per pound of cheese
B. 6 barrels of beer per pound of cheese
C. 13 barrels of beer per pound of cheese
D. 2 barrels of beer per pound of cheese
Answer:
Portugal and Austria
Comparative Advantage in the Production of Beer and Cheese:
1a. Portugal
b. Austria
2. a. 3 barrels and
b. 0.09 or 1/11 pounds
3. A. 4 barrels of beer per pound of cheese
Explanation:
a) Data and Calculations:
Portugal's opportunity cost of producing a pound of cheese = 3 barrels of beer
Austria's opportunity cost of producing a pound of cheese = 11 barrels of beer
Price of trade (cheese in terms of beer) = 11/3 = 3.667 = 4
b) Portugal's comparative advantage over the production of cheese is her economy's ability to produce cheese at a lower opportunity cost than Austria. This comparative advantage gives Portugal the ability to sell cheese at a lower price than Austria and realize a more favorable balance of trade.
How can lean operations be applied in the service industry?
Answer:
GG kid
Explanation:
i dont know
what is financial ratio?
Answer:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Explanation:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
The following transactions apply to Pecan Co. for 2018, its first year of operations:1. Received $100,000 cash in exchange for issuance of common stock.2. Secured a $300,000 five-year installment loan from State Bank. The interest rate is 5 percent and annual payments are $69,292.3. Purchased land for $100,0004. Provided services for $260,000.5. Paid other operating expenses of $150,000.6. Paid the annual payment on the loan. Round answers to nearest whole dollar.Required:a. Organize the transaction data in accounts under an accounting equation.b. Prepare an income statement and balance sheet for 2018.c. What is the interest expense for 2019? 2020?
Answer:
Pecan Co.
a. Accounting equation: Assets = Liabilities + Equity
Assets: Cash ($100,000 + 300,000 - 100,000 - 150,000 - 69,292) + Land ($100,000) + Accounts Receivable ($260,000) = Liabilities: Bank Loan ($245,708) + Equity: Common stock ($100,000) + Retained Earnings ($260,000 - 150,000 - 15,000)
b1: Income Statement
Service Revenue $260,000
Operating expenses 150,000
Interest expense 15,000
Net income $95,000
Balance Sheet
Cash $80,708
Accounts Receivable 260,000
Land 100,000
Total assets $440,708
Bank Loan $245,708
Common stock 100,000
Net income 95,000
Total liabilities+equity $440,708
b2. The interest expense for 2019 is $15,000 ($300,000 * 5%)
The interest expense for 2020 is $12,285.40 ($300,000 +15,000 - 69,292) * 5%.
Explanation:
a) Data and Calculations:
Cash $100,000 + 300,000 - 100,000 - 150,000 - 69,292 = $80,708
Accounts Receivable $260,000
Land $100,000
Common stock $100,000
Bank Loan $300,000 + 15,000 - 69,292 = $245,708
Service Revenue $260,000
Operating expenses $150,000
Amortization Schedule, using an online financial calculator:
Beginning Interest Principal Ending
Balance Balance
1 $300,000.00 $15,000.00 $54,292.44 $245,707.56
2 $245,707.56 $12,285.38 $57,007.06 $188,700.50
3 $188,700.50 $9,435.02 $59,857.41 $128,843.08
4 $128,843.08 $6,442.15 $62,850.29 $65,992.80
5 $65,992.80 $3,299.64 $65,992.80 $0.0
Jeremiah expressed his disdain for the economic reports he heard on the news. "All economists care about is increasing GDP," he said. "I wish economists cared about living conditions and well-being instead of just some economic indicator." How could you acknowledge the shortcomings of GDP to Jeremiah, while also showing him how GDP functions as both an economic indicator and a measure of well-being? While it is true that GDP calculations omit such things as and , it is still a useful way to measure .
Answer: the value as opposed to the price of an item; environmental degradation; total output and income.
Explanation:
While it is true that GDP calculations omit such things as the value as opposed to the price of an item and environmental degradation, it is still a useful way to measure total output and income.
Gross Domestic Product is a means of measuring economic performance over a given period(usually a year). It works by adding up the final value of the goods and services produced in a country in that given period and thus can show the total output and income in a country.
Sadly however, it has some shortcomings. One of those is that it uses the prices of goods not their actual value. Another is that it does not take into account important factors such as environmental degradation which if added, would reduce GDP because the environment on average suffers negatively from production.
ABC, a U.S. company sends by fax an offer to sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget. XYZ sends back a counter offer of $.75 a widget. ABC rejects the counter offer and sells the widgets to GHK Inc. instead. XYZ then sends an acceptance of the original offer of $1.00. ABC has a contract with XYZ and must give them the 1,000,000 widgets for $1.00 a wideget because they accepted the offer.
A. True
B. False
Answer:
The correct option is B. False.
Further explanation is given below in the explanation section.
Explanation:
Offer From ABC Company to XYZ Company:
1,000,000 widgets to sell.
Selling Price of 1 widget = $1.00
Total Price = $1,000,000
Counter Offer from XYZ company to ABC Company.
Selling Price = $0.75
Total Price = 0.75 x 1,000,000 = $750,000
But in the end, ABC company sold its widgets to GHK company.
The correct option to this question is false.
This case is false because here ABC sends an original offer of $1 but XYZ sent a counter offer of $0.75. This counter offer was then duly rejected by ABC.
XYZ cannot again confirm and accept the original offer of ABC because they have already rejected your claim and thus XYZ have to wait until ABC make them another offer.
JDI, Inc. is trying to decide whether ro make-or-buy a part (#J-45FPT). Purchasing the part would cost them $1.50 each. If they design and produce it themselves, it will result in a per unit cost of $0.75. However, the design investment would be $50,000. Further, they realize that for this type of part, there is a 30% chance that the part will need to be redesigned at an additional cost of $50,000. Regardless of whether they make-or-buy the part, JDI will need 100,000 of these parts. Using decision trees analysis and EMV, what should JDI do? Show the decision tree.
Answer:
JDI should buy the part
Explanation:
The decision tree is shown in the file attached below.
From the information given:
Provided that the expected values denote the costs; JDI is expected to select the lowest expected value and make the part.
JDI expected monetary cost = $140000
Its buy decision = $150000
Bailey Corporation began business on January 2, 2019, with five employees. Its sick leave and vacation policy follow: Each employee is allowed 8 days of sick leave each year and one day of paid vacation leave for each month worked. The accrued vacation cannot be taken until the employee has been with the company 1 year. The sick leave, if not used accumulates to an 18- day maximum. The vacation leave accumulates for 5 years, but at any time the employee may request compensation in lieu of taking paid vacation leave. The company records its liability for both compensated absences on a quarterly basis. The daily gross wages for each employee are $180. Instructions: 1. Prepare the journal entries to record the compensated absences for the first quarter of 2019. Three sick days were used by employees in the first quarter. 2. Prepare a partial interim balance sheet showing the liability balances for compensated absences at March 31, 2019.
Answer:
Answer is explained in the explanation section below.
Explanation:
Given Data:
Business Began on = 2, January, 2019
Number of employees = 5
Sick leaves and vacation Policy:
Allowed Sick Leaves for each employee = 8 days/year
Paid Leave = 1 day/Month worked
Accrued Vacation condition = Worked for company for at least 1 year
Sick leaves if not used = 18 days accumulated.
Daily Gross Wages = $180 for each employee.
Part 1:
So, we know that,
The company records its liability to compensated absences for both sick leave.
on quarterly basis (5 x 2 = 10 days).
pay per each employ = $180.
The company records its liability to compensated absences for both sick leave.
On quarterly basis = 10 x 180 = $1800.
In a quarter each employee is allowed to avail 3 vacation days, so the total vacations days for 5 employees for a quarter 3 x 5=15 days
gross wage for each employee is $180 per day
for vacation days= 15 x 180= $2700
To record this transaction the journal entry is:
wages expenses $2700
Accumulated wages $2700
Part 2:
The partial interim balance compensation for future absences at March 31, 2019
= $1800 + $2700
= $4500.
Which of the following statements is not true? Many Fortune 500 U.S. firms derive more than half their revenues from foreign operations. Technology companies are particularly dependent on offshore revenue. Eighty percent of the toys sold in the United States are manufactured in China. Most PCs manufactured in China use microprocessor chips manufactured in Korea. In 2017, 60 percent of Apple's revenue was generated outside of the United States.
Answer:
B
Explanation:
Brainliest?
Martin Inc. began construction on a building in 2020 and paying a construction company $600,000 in 2020. Martin also had avoidable interest of $30,000 and actual interest of $100,000 in 2020. Martin financed the construction with a $1,000,000, 10% loan specific to the project. The project was completed on September 30, 2021. Additional expenditures in 2021 were as follows:
Feb. 28 $90,000
Apr. 30 180,000
Jul. 1 36,000
Sept. 30 64,000
Required:
Once completed, how much is capitalized in Martin’s Building account? Show all your work.
Answer:
$1,000,00
Explanation:
Amount paid to Construction company = $600,000
Additional expenditures in 2021 are Feb 28 = 90,000, Apr. 30 180,000, Jul. 1 = 36,000, Sept. 30 = 64,000. Avoidable interest Cost = 30,000
So, amount to be capitalized in Martin's Building account = $600,000 + $90,000 + $180,000 + $36,000 + $64,000 + $30,000 = $1,000,000
A partial listing of costs incurred at Archut Corporation during September appears below: Direct materials $ 113,000 Utilities, factory $ 5,000 Administrative salaries $ 81,000 Indirect labor $ 25,000 Sales commissions $ 48,000 Depreciation of production equipment $ 20,000 Depreciation of administrative equipment $ 30,000 Direct labor $ 129,000 Advertising $ 135,000 The total of the manufacturing overhead costs listed above for September is: Multiple Choice $292,000 $50,000 $586,000 $30,000 PrevQuestion 7 of 10 Total7 of 10Visit question mapNext
Answer: $50,000
Explanation:
Manufacturing overhead are the costs that are indirectly related to production.
In this scenario those costs are:
Utilities, Factory, Indirect labor and Depreciation of production equipment.
= 5,000 + 25,000 + 20,000
= $50,000