Millbridge Township provides a variety of summer recreation alternatives. You can belong to the town pool, play tennis, or play golf. Summer passes allowing residents to use these facilities are sold each year. Twenty-five percent of the season's passes that are purchased are golf passes, 35 percent are for tennis, and the rest are for the pool. The golf passes are $30, the tennis passes are $50, and the pool passes are $70. The cost of providing these services is mostly fixed, with a $3 variable cost per pass, regardless of type. The fixed cost of operating the summer recreation program is $250,000.

Required:
How many people must buy recreation passes for the town to break even?

5000 people must buy recreation passes for the town to break even.

Break even is the point at which the profit made is 0, that is the cost of production is equal to the revenue.

Let x represent the total number of people, hence:

Total cost = 250000 + 3x

Number of golf pass = 25% of x = 0.25x

Number of tennis pass = 35% of x = 0.35x

Number of pool pass = (100% - 35% - 25%) of x = 0.4x

Total revenue = ($30 * 0.25x) + ($50 * 0.35x) + ($70 * 0.4x) = 53x

At breakeven:

Total cost = total revenue

53x = 250000 + 3x

x = 5000

5000 people must buy recreation passes for the town to break even.

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DEBIT OR CREDIT - ACCOUNTING
1. Accrued Expenses are increased with a _______________
2. Salaries Expense is increased with a _______________
3. The Equipment accounts is increased with a _______________
4. The Sales Revenue account is increased with a _______________

In the 21st century, the city of Ashkelon is an Israeli resort community. The city government is concerned with its security. Many centuries ago, the Egyptian sultan Saladin pulled down the last of Ashkelon's defensive walls. Perhaps raising new walls would increase its security. This would be a public works project, so it would be best to spread payments over time. The total purchase price is 20 million dollars (U.S.). The city can get a loan for this amount from a bank, with an interest rate of 10%, with payments being made at the end of each year, over 25 years. What is the minimum annual loan payment the city must pay to the bank

Van Frank Telecommunications has a patent on a cellular transmission process. The company has amortized the $21.60 million cost of the patent on a straight-line basis since it was acquired at the beginning of 2017. Due to rapid technological advances in the industry, management decided that the patent would benefit the company over a total of six years rather than the nine-year life being used to amortize its cost. The decision was made at the end of 2021 (before adjusting and closing entries). What is the appropriate adjusting entry for patent amortization in 2021 to reflect the revised estimate? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not r

WEALTH MANAGEMENT CRISIS AT UBS
1) In your opinion, to what extent did the government and national culture play in the scandal? And to what extent did corporate culture contribute to the scandal?
2) Without the Global Financial Crisis, do you think the scandal would have been reasonably uncovered, or would they have lingered? If yes/no, please explain.
3) Does it matter who or what entities could have been impacted by the scandal? What if net/net there were no losses incurred?
4) In your opinion, is the next scandal already underway, and are we just waiting for the next recession to find out what is currently going on? Please explain.

Colin is 40 years old and wants to retire in 27 years. His family has a history of living well into their 90s. Therefore, he estimates that he will live to age 95. He currently has a salary of $150,000 and expects that he will need about 75% of that amount annually if he were retired. He can earn 8 percent from his portfolio and expects inflation to continue at 3 percent. Some years ago, he worked for the government and expects to receive an annuity that will pay him $20,000 in today’s dollars per year beginning at age 67. The annuity includes a cost of living adjustment, which is equal to inflation. Colin currently has $200,000 invested for his retirement. His Social Security benefit in today’s dollars is $30,000 per year at normal age retirement of age 67. How much does he need to accumulate at age 67 exclusive of his pension and Social Security benefits? Group of answer choices $2.1 million. $2.2 million. $2.8 million. $2.9 million.

Please help:)
What is the term for the daily activity of handling economic resources and planning for future economic goals?

A.money management
B.fiscal responsibility
C.financial planning
D.figuring net worth

What do you think is a good

When governments tax or regulate industries causing pollution, they are
A) acting on a harmful spillover.
B) promoting a helpful spillover.
C) providing for the common defense.
D) seeking sources of government revenue. Eliminate

Ramniwas, a book-keeper, taking out a trial balance as on 31st March 2005, found that its debit and credit columns did not agree. He proceeded to check the entries and discovered the following errors:



A credit sale of Rs. 1,000 to Ajay had been correctly entered in the Sales Book but Ajay’s Account had been debited with Rs. 100 only.



The total of the Bills Payable Book Rs. 5,000 had been posted to the credit of Bills Receivable Account.



Rs. 2,500 paid to Ram had been wrongly posted to Shyam.



Rs. 100 owing by a customer had been omitted from the list of debtors.



The discount column of the Cash Book representing discount allowed to customer has been over-added by Rs. 10.



Goods worth Rs. 100 taken by the proprietor omitted to be recorded in the books.



Depreciation on furniture Rs. 100, had not been posted to Depreciation Account.



The total of Sales Book had been added Rs. 1,000 short.





Which of the above errors caused the totals of the Trial Balance to disagree and by how much did the totals differ?

Suppose you were borrowing money to buy a car. Consider the following situations.

Situationâ 1: Suppose the interest rate on your car loan is percent and the inflation rate is percent.

Required:
Calculate the real interest rate.

HELP ME PLEASE!!!

Some businesses require federal licenses because __________.
Choose the answer.


federal agencies regulate their business


have federal employees


they cross state lines


they have different tax brackets

Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions. May 11 Sydney accepts delivery of $26,000 of merchandise it purchases for resale from Troy: invoice dated May 11, terms 3/10, n/90, FOB shipping point. The goods cost Troy $17,420. Sydney pays $685 cash to Express Shipping for delivery charges on the merchandise. 12 Sydney returns $1,200 of the $26,000 of goods to Troy, who receives them the same day and restores them to its inventory. The returned goods had cost Troy $804. 20 Sydney pays Troy for the amount owed. Troy receives the cash immediately. (Both Sydney and Troy use a perpetual inventory system and the gross method.) 1. Prepare journal entries that Sydney Retailing (buyer) records for these three transactions. 2. Prepare journal entries that Troy Wholesalers (seller) records for these three transactions.

Your friend Jeanne is searching for a job and is especially interested in one company. She has decided to create a LinkedIn profile, and she asks you how to use the site to get her dream job. What advice should you give Jeanne? Send LinkedIn messages to everyone in the company, and ask them for a job. Find employees at your company of interest, and see whether they are connected to anyone you know. Post status updates praising the company’s competitors to catch the company’s attention. Finding a job today is difficult, but developing your own personal brand will help you identify what makes you a valuable job candidate and understand

Bridgeport Inc. has negotiated the purchase of a new piece of automatic equipment at a price of $10,080 plus trade-in, f.o.b. factory. Bridgeport Inc. paid $10,080 cash and traded in used equipment. The used equipment had originally cost $78,120; it had a book value of $52,920 and a secondhand fair value of $60,228, as indicated by recent transactions involving similar equipment. Freight and installation charges for the new equipment required a cash payment of $1,386.

Required:
a. Prepare the general journal entry to record this transaction, assuming that the exchange has commercial substance.
b. Assuming the same facts as in (a) except that fair value information for the assets exchanged is not determinable. Prepare the general journal entry to record this transaction.

Reconciling and Computing Operating Cash Flows from Net Income
Petroni Company reports the following selected results for its current calendar year.
Net income $130,000
Depreciation expense 28,000
Accounts receivable increase 10,000
Accounts payable increase 6,000
Prepaid expenses decrease 3,000
Wages payable decrease 4,000
(a) Prepare the operating section only of Petroni Company's statement of cash flows for the year.
Hint: Remember to use negative signs with answers when appropriate.
Petroni Company
Statement of Cash Flows
(operating section)
Operating activities
Net income $Answer
Adjustments to reconcile net income to operating cash flow
Depreciation Answer
Changes in operating assets and liabilities
Accounts receivable Answer
Prepaid expense Answer
Accounts payable Answer
Wages payable Answer Answer
Net cash provided from operating activities
$Answer
In respect of questions that follow (1) give reasons for your choice (2) Give reasons why other choices are not appropriate
(b) Which of the following statements best describes the sign (positive or negative) on depreciation expense?
The sign on depreciation is positive because depreciation lowers the tax liability of the company. A decrease in tax liability generates an increase in net income since less tax is paid.
The sign on depreciation is positive because the computation of net income included a noncash depreciation expense. The noncash expense is removed by adding depreciation.
The sign on depreciation is negative because expenses are always subtracted from net income in cash flow statements to reflect the true amount of cash generated from operating activities.
The sign on depreciation is negative because cash is paid for equipment used in operations that are not yet reflected in the cost of goods sold. This increase in the cost of goods sold is subtracted from net income.
(c) Which of the following statements best describes the reason that accounts receivable is listed on the statement of cash flows?
An increase in accounts receivable means Sales have also increased. Sales are an increase in cash and contribute a positive cash flow. Therefore, an increase in accounts receivable is listed on the cash flow statement as a positive adjustment to net income.
An increase in accounts receivable means more cash has been received than has been reported in Sales. This surplus is an increase in cash and contributes a positive cash flow. Therefore, an increase in accounts receivable is listed on the cash flow statement as a negative adjustment to net income.
An increase in accounts receivable means less cash has been received than has been reported in Sales. This deficit is a decrease in cash and contributes a negative cash flow. Therefore, an increase in accounts receivable is listed on the cash flow statement as a negative adjustment to net income.
An increase in accounts receivable means Sales have also increased. Sales have increased, but cash has not yet been received. Therefore, an increase in accounts receivable is listed on the cash flow statement as a negative adjustment to net income.
(d) Which of the following statements best describes the reason that prepaid expense is listed on the statement of cash flows?
Since prepaid expense is an asset, a decrease in prepaid expense means assets have decreased causing cash to decrease. This contributes a negative cash flow. Therefore, a decrease in prepaid expense is listed on the cash flow statement as a negative adjustment to net income.
Since prepaid expense is a liability, a decrease in prepaid expense means liabilities have decreased causing cash to increase. This contributes a positive cash flow. Therefore, a decrease in prepaid expense is listed on the cash flow statement as a negative adjustment to net income.
Prepaid expense is an asset because Cash had been paid, but the expense had not yet been realized. A decrease in this asset means an expense has been recognized in the current period, decreasing net income, but not affecting cash. Therefore, decrease in prepaid expense is listed on the cash flow statement as a positive adjustment to net income.
Prepaid expense is a liability because expense has been realized, but Cash has not yet been paid. A decrease in liabilities leads to an increase in Cash and positive cash flow. Therefore, a decrease in prepaid expense is listed on the cash flow statement as a positive adjustment to net income.

At January 1, 2021, Café Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $32,000 beginning January 1, 2021, the beginning of the lease, and at each December 31 thereafter through 2028. The equipment was acquired recently by Crescent at a cost of $243,000 (its fair value) and was expected to have a useful life of 13 years with no salvage value at the end of its life. (Because the lease term is only 9 years, the asset does have an expected residual value at the end of the lease term of $73,596.) Crescent seeks a 9% return on its lease investments. By this arrangement, the lease is deemed to be an operating lease.

Required:
a. What will be the effects of the lease on Crescent's (lessor's) earnings for the first year (ignore taxes)?
b. What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Crescent (ignore taxes)?

If chocolate bars have a price elasticity of 1.8, then we can infer the chocolate bar Multiple Choice has a narrowly defined market and sellers should lower price to increase revenue. is a luxury good and sellers should raise price to increase revenue. few substitutes and sellers should raise price to increase revenue from sales. has many substitutes and sellers should raise price to increase revenue from sales.

One important difference between return on assets (ROA) and return on common shareholder’s equity (ROCE) is that: Select one: a. ROCE does not differentiate based on how a company finances its assets; ROA does b. ROCE does not distinguish between the different types of income items, such as income from continuing operations, discontinued operations, extraordinary items and changes in accounting principles; ROA does c. ROA does not distinguish between the different types of income items, such as income from continuing operations, discontinued operations, extraordinary items and changes in accounting principles; ROCE does d. ROA does not differentiate based on how a company finances its assets; ROCE does

1) Explain the following terms used in trading account cross profit, Gross loss carriage ​

write the difference between engineer and architect​

Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all sprinklers by an average of $0.70 per unit. The company also estimates that this change could increase the overall number of sprinklers sold by 10%, and the average sales price would increase $0.20 per unit. Waterways currently sells 490,000 sprinkler units at an average selling price of $28.60. The manufacturing costs are $7,866,260 variable and $2,011,486 fixed. Selling and administrative costs are $2,644,240 variable and $809,370 fixed. If the average sales price per sprinkler unit did not increase when the company began mass-producing the special-order sprinkler, what would be the effect on the company

In the market for blue shirts, if the price of green shirts falls,
a. Which curve will shift?
b. Along which curve will price and quantity move?
c. At the new equilibrium, will price be higher or lower?
d. At the new equilibrium, will quantity be higher or lower?

Compute the charitable contribution deduction (ignoring the percentage limitation) for each of the following C corporations.

a. Amber Corporation donated inventory of clothing (basis of $138,500, fair market value of $173,125) to a qualified charitable organization that operates homeless shelters.
b. Brass Corporation donated stock held as an investment to Western College (a qualified organization). Brass acquired the stock three years ago for $70,800, and the fair market value on the date of the contribution is $113,280. Western College plans on selling the stock.
c. Ruby Corporation donates a sculpture held as an investment and worth $200,800 to a local museum (a qualified organization), which exhibits the sculpture. Ruby acquired the sculpture four years ago for $80,320.

Republic Industries decides to price delivery services according to the results of a recent activity-based costing (ABC) study. The study indicates Republic should charge $8 per order, 2% of annual order value for general delivery costs, $1.25 per item, and $30 for delivery. A year later, Republic collected the following information for two of its best customers: Cost driver Customer C Customer D Number of orders 18 8 Number of deliveries 10 10 Total number of items 2,000 4,000 Annual order value $ 120,000 $ 80,000 What are the total delivery costs charged to Customer d during the year? $5,344. $5,364. $6,900. $6,964.

Rent of $1,000 per month is paid for the next twelve months on October 1st, 1988. As a result of this transaction:

X: 1988 net income will decrease by $3,000

Y: 1988 equity will increase by $12,000

A. X
B. Y
C. Both
D. Neither

For months, Phirum has been designing and redesigning the lobby, restaurants, and other interior spaces that his company is renovating for a hotel downtown. Phirum is exhausted and frustrated because of many setbacks on this project. Phirum may be experiencing Multiple Choice

Faz, Inc, manufactures and sells two products: Product X0 and Product W7. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:

Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours
Product X0 1,000 6 6,000
Product W7 590 3 1,770
Total direct labor-hours 7,770

The direct labor rate is $38.60 per DLH. The direct materials cost per unit is $163.50 for Product X0 and $145 for Product W7. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:

Expected Activity
Activity Cost Pools Activity Measures Estimated Overhead Cost Product X0 Product W7 Total
Labor-related DLHs $291,078 6,000 1,770 7,770
Production orders orders 20,848 690 890 1,580
Order size MHs 258,314 4,190 4,290 8,480
$570,240

If the company allocates all of its overhead based on direct labor-hours using its traditional costing method, the overhead assigned to each unit of Product X0 would be closest to: ____________

Compute the Lower of Cost or Market (LCM) for R.A.Mona's Pet Shop. Use the most conservative method of LCM.

Mona’s Pet Store
Per unit
Inventory Items Units Cost Market Total Cost Total Market
Puppies 11 50 100
Turtles 12 25 20
Fish 40 8 7
Parrots 10 100 250
Cats 26 10 5

Selzik Company makes super-premium cake mixes that go through two processing departments—Blending and Packaging. The following activity was recorded in the Blending Department during July: Production data: Units in process, July 1 (materials 100% complete; conversion 30% complete) 10,000 Units started into production 170,000 Units in process, July 31 (materials 100% complete; conversion 40% complete) 20,000 Cost data: Work in process inventory, July 1: Materials cost $ 8,500 Conversion cost $ 4,900 Cost added during the month: Materials cost $ 139,400 Conversion cost $ 244,200 All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its process costing system. Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion for July. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion for July. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for July. 4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for July. 5. Prepare a cost reconciliation report for the Blending Department for July.

The inclusion of instructions for format and content of the contractor proposals in the RFP Group of answer choices helps ensure the proposals are received by the due date. eliminates the need for an evaluation team. is so that a fair evaluation can be made. is a requirement in every RFP.