Option A. Self-assessment tools can help you choose an academic major by A. Helping you Identify your interests.
What are self assessment tools?This is the term that is used to refer to the tools that can help a person choose career by letting them know what there interest are.
This tool helps the person to gather more information about herself which would help in the decision making.
Read more on self assessment tools here:
https://brainly.com/question/27589576
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Capp Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow:
•
Sales are budgeted at $260,000 for November, $270,000 for December, and $250,000 for January.
•
Collections are expected to be 60% in the month of sale, 39% in the month following the sale, and 1% uncollectible.
• The cost of goods sold is 60% of sales.
•
The company desires an ending merchandise inventory equal to 40% of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
• The November beginning balance in the accounts receivable account is $61,000.
• The November beginning balance in the accounts payable account is $248,000.
Required:
a.
Prepare a Schedule of Expected Cash Collections for November and December. (Omit the "$" sign in your response.)
November December
Sales
Schedule of Expected Cash Collection ---------------- -------------------
Accounts recievable -----------------
November Sales
December SALES ---------------
tOTAal Cash collection
b.
Prepare a Merchandise Purchases Budget for November and December. (Input all amounts as positive values. Omit the "$" sign in your response.)
November December
Budgeted cost of goods sold
deduct: Begining merchandise inventory
total needs
add: desired ending merchandise inventory
required purchase
Answer:
Sales are budgeted at $260,000 for November
Mayweather reports net income of $305,000 for the year ended December 31. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, a $75,000 increase in equipment, and a $100,000 decrease in notes payable. Calculate the net increase in cash for the year.
Answer:
206,400.00
Explanation:
Calculation for the net increase in cash for the year
Net Income 305,000
Adjustment to reconcile Net Income to Net Cash
Add:
Depreciation Expense 93,700
Loss on sale of equipment 10,000
Cash flow from Operations 408,700
(305,000+93,700+10,000)
Changes in Current Assets/Current Liabilities
Less Increase in Accounts Receivable (40,200)
Decrease in Prepaid Expenses 10,200
Increase in Accounts Payable 15,200
Less Decrease in Wages Payable (12,500) (27,300)
Net cash provided by operating activities 381,400
(408,700-27,300)
Cash flow from investing activities
Increase in equipment (75,000)
Net cash provided by investing activities (75,000)
Cash flow from financing activities
Decrease in Notes payable (100,000)
Net cash provided by financing activities (100,000)
Net Increase/(Decrease) in cash $206,400
Therefore the net increase in cash for the year will be $206,400
Which of the following best describes the front-end function of a cloud computing network?
Answer:
the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server
Explanation:
Prepare Two Column Cash Book from the following transactions and balance the book on 31st Jan., 2021:-
2021
Jan. 1
Cash in hand 50,000; Bank overdraft 1,90,000.
Jan. 2
Purchased goods from Rajesh Kumar of the list price of 50,000 at 5% trade discount and payment made by cheque.
Jan. 6
Goods sold for 80,000 and payment received by cheque. Cheque deposited into Bank on same day.
Jan. 10
Goods purchased for cash 19,800.
Jan. 15
Furniture sold for 1,77,000 and payment received by cheque & cheque deposited into Bank on same day.
Jan. 18
Salaries paid 4,500.
Jan. 21
Settled the amount due to Ram 2,000 by paying cash 1,910.
Jan. 22
Cash received from Jai 14,780 in full settlement of his account of 15,000.
Jan. 23
Paid Life Insurance premium 1,500.
Jan. 31
Deposited with bank the entire balance after retaining 7,000 cash in hand.
Answer:
On January 21, Balance c/d are:
Cash = $7,000
Bank = $49,570
Explanation:
Note: See the attached excel file for the Two Column Cash Book.
Also note the following in the attached Two Column Cash Book:
(1) Jan. 1 Bank overdraft 1,90,000 is recorded in the Two Column Cash Book as 190,000 to correct the error in the figure.
(2) Jan. 15 Furniture sold for 1,77,000 is recorded in the Two Column Cash Book as 177,000 to correct the error in the figure.
(3) Jan. 18 Salaries paid 4,500 is assumed to be paid by cheque since no specific form of payment in indicated.
(4) Jan. 23 Paid Life Insurance premium 1,500 is assumed to be paid by cheque since no specific form of payment in indicated.
(5) VN represents Voucher Number.
(5) PR represents Posting Reference.
(6) C represents Contra entry.
(7) The Jan. 31 Bank and Cash (C) of $36,070 which is the entire balance deposited with bank after retaining 7,000 cash in hand is obtained as follows:
Entire balance deposited with bank = Total cash received - Total cash paid - $7,000 retained = $64,780 - ($19,800 + $1,910) - $7,000 = $36,070
(8) Balance c/d represents Balance carried down.
(8) Balance b/d represents Balance brought down.
service that provide when the customer is still in the store
On January 1, Year 1, Chertco acquired a patent for $500,000 and, using the straight-line method, began amortizing it properly over its estimated useful life of 10 years. The asset has no residual value. At December 31, Year 4, a significant change in the business climate caused Chertco to assess the recoverability of the carrying amount of the patent. Chertco estimated that the undiscounted future net cash inflows from the patent would be $325,000 and that its fair value was $275,000. Accordingly, for the year ended December 31, Year 4, Chertco should recognize an impairment loss of :________.
a. $175,000
b. $50,000
c. $25,000
d. $0
Answer:
c. $25,000
Explanation:
We recognize impairment loss when the Carrying Amount of an Asset is greater than its Recoverable Amount.
Recoverable Amount of an Asset is the Higher of Asset Fair Value and Value in use. The future cash shows represent value in use and these need to be discounted. Since they are not, Recoverable Amount = $275,000
Carrying Amount of an Asset is the Cost of the Asset less all depreciation charges to date of the impairment test, Carrying Amount = $300,000
Therefore, Impairment loss = $25,000 ($300,000 - $275,000)
Macy Corporation's relevant range of activity is 8,400 units to 17,000 units. When it produces and sells 12,700 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.55 Direct labor $ 4.00 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 3.60 Fixed selling expense $ 1.30 Fixed administrative expense $ 0.60 Sales commissions $ 1.25 Variable administrative expense $ 0.50 If the selling price is $32.50 per unit, the contribution margin per unit sold is closest to: Multiple Choice $19.20 $22.95 $11.55 $7.35
Answer:
Contribution margin per unit= $19.2
Explanation:
The contribution margin is calculated as follow:
Contribution margin per unit= selling price - total unitary variable cost
Direct materials $5.55
Direct labor $4.00
Variable manufacturing overhead $2.00
Sales commissions $1.25
Variable administrative expense $0.50
Total variable cost per unit= $13.3
Contribution margin per unit= 32.5 - 13.3
Contribution margin per unit= $19.2
Orange, Inc. has identified the following cost drivers for its expected overhead costs for the year:
Overhead Item Expected Cost Cost Driver Expected Quantity
Setup costs $50,000 Number of setups 250
Ordering costs 30,000 Number of orders 1,500
Maintenance 100,000 Machine hours 2,000
Power 20,000 Kilowatt hours 4,000
Total Overhead $200,000
Total direct labor hours budgeted = 2,000 hours.
The following actual data applies to one of the products completed during the year:
Direct materials $5,000 Number of setups 5
Direct labor $3,000 Number of orders 50
Units completed 100 Machine hours 50
Direct labor hours 100 Kilowatt hours 500
If Orange, Inc. uses direct labor hours to assign overhead, the unit product cost for Product X will be:
a. $70.00.
b. $60.00.
c. $180.00.
d. $90.00.
e. $80.00
Answer:
Unit product cost is $130
Explanation:
The computation of the unit product cost for product X is given below;
Direct material per unit (5,000 ÷ 100) $50
Direct labor per unit (3,000 ÷ 100) $30
Manufacturing overhead ($200,000 ÷ 2,000) × 50 ÷ 100 $50
Unit product cost is $130
This is the correct answer but the same is not provided in the given options
The first step in the marketing process is ________. A. understanding the marketplace and customer needs and wants B. constructing an integrated marketing program that delivers superior value C. building profitable relationships and creating customer delight D. capturing value from customers to create profits and customer equity E. designing a customer-driven marketing strategy
Explanation:
Do you just need to fill in the blanks or what
Presented below is information related to Viel Company at December 31, 2020, the end of its fi rst year of operations.
Sales revenue $310,000
Cost of goods sold 140,000
Selling and administrative expenses 50,000
Gain on sale of plant assets 30,000
Unrealized gain on available-for-sale debt investments 10,000
Interest expense 6,000
Loss on discontinued operations 12,000
Dividends declared and paid 5,000
Compute the following:
a. income from operations
b. net income
c. comprehensive income
d. retained earnings balance at December 31, 2020.
Answer:
a. income from operations = Revenue - Cost of Goods Sold - Selling and Administrative Expenses
Income from operations = 310,000 - 140,000 - 50,000
Income from operations = 120,000
b. net income = income from operations + gain on sale of plant assets - loss on discontinued operations - interest expense
Net income = 120,000 + 30,000 - 12,000 - 6,000
Net income = 132,000
c. comprehensive income = net income + unrealized gain on available-for-sale debt investments
Comprehensive income = 132,000 + 10,000
Comprehensive income = 142,000
d. retained earnings balance at December 31, 2020.
Retained earnings = Net Income - Dividends declared and paid
Retained Earnings = 132,000 - 5,000
Retained Earnings = 127,000
Swinnerton Clothing Company's balance sheet showed total current assets of $3,300, all of which were required in operations. Its current liabilities consisted of $575 of accounts payable, $300 of 6% short-term notes payable to the bank, and $145 of accrued wages and taxes. What was its net operating working capital that was financed by investors? Select the correct answer. a. $2,573 b. $2,570 c. $2,580 d. $2,577 e. $2,566
Answer:
c. $2,580
Explanation:
Calculation for What was its net operating working capital that was financed by investors
Current assets $3,300
Less Accounts payable ($575)
Less Accrued wages and taxes ($145)
Net operating working capital $2,580
($3,300-$575-$145)
Therefore What was its net operating working capital that was financed by investors will be $2,580
When British regulators were forced to suspend the license of a flu vaccine plant in Liverpool operated by the Chiron Corporation due to concerns over bacterial contamination. As a result, the number of flu vaccines available in the United States market decreased by 48 million doses. This was nearly half of the total supply of vaccines in the market.
a) use a supply and demand diagram to illustrate the impact of this event on the market to vaccines in the United States. What impact will this have on the equilibrium price and equilibrium quantity in the U.S. vaccine market?
b) What impact will this have on producer and consumer surplus? Briefly explain
Explanation:
The answer to this question is contained in the attachment. The graph has been used to explain the solution.
A. As license got suspended price rose to p1 as quantity fell from q to q1.
So quantity decreased and price rose.
B. The area market csps, D ands cs were consumer surpluses , after the decrease in amount of vaccines in the market, consumer surplus decreased to area cs, csps became part of producer surplus. Triangle d is the deadweight loss caused by fall in quantity.
Ps and d' are initial producer surplus. Producer surplus after decrease in vaccine can be seen in ps and csps. D' is the dead weight loss as price decreases.
Match each of the options above to the items below.
a. Revenues, expenses. and dividends,
b. List of permanent accounts and their balances.
c. Transfer of temporary balances to retained earnings.
d. List of permanent and temporary accounts and thejr balances.
e. Assets, liabilities, and stockholders' equity
1. Adjusted Trjal balance
2. Post-closing trial balance
3. Permanent accounts
4. Temporary accounts
5. Closing entries
Answer:
a. Revenues, expenses. and dividends - Temporary accounts
b. List of permanent accounts and their balances - Post-closing trial balance
c. Transfer of temporary balances to retained earnings - Closing entries
d. List of permanent and temporary accounts and their balances - Adjusted trial balance
e. Assets, liabilities, and stockholders' equity - Permanent accounts
Sunland Company began operations in July 2019. At the end of the month, the company prepares monthly financial statements. It has the following information for the month. 1. At July 31, the company owed employees $1,800 in salaries that the company will pay in August. 2. On July 1, the company borrowed $32,000 from a local bank on a 10-year note. The annual interest rate is 12%. 3. Service revenue unrecorded in July totaled $2,600. Prepare the adjusting entries needed at July 31, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answer:
July 31, 2019
Dr Salaries and Wages Expense $1,800
Cr Salaries and Wages Payable $1,800
Dr Interest Expense 320
Cr Interested Payable 320
Dr Accounts Receivable $2,600
Cr Service Revenue $2,600
Explanation:
Preparation of the adjusting entries needed at July 31, 2019
July 31, 2019
Dr Salaries and Wages Expense $1,800
Cr Salaries and Wages Payable $1,800
Dr Interest Expense 320
Cr Interested Payable 320
[$32,000*12%-($32,000*12%*11/12)]
Dr Accounts Receivable $2,600
Cr Service Revenue $2,600
On January 1, 2020, HD Corp. paid $60,000 and issued a 5-year noninterest bearing note payable with a face value of $120,000 in exchange for a piece of equipment. The applicable interest rate is 8%. HD Corp depreciates over a straight-line basis and utilizes the effective interest method to record interest expense. The equipment is expected to be in service for 8-years at which point it will be worthless.
Required:
What is the carrying value of the note payable on 12/31/2021?
a. $120,000
b. $88,204
c. $75.136
d. $95.260
e. $89,335
Answer:
b. $88,204
Explanation:
The computation of the carrying value of the note payable is shown below:
= Present value of the notes + interest
= $120,000 × 0.680583 + ($120,000 × 0.680583 × 8%)
= $81,670 + $6,534
= $88,204
hence, the second option is correct
On January 1, 2020, Stream Company acquired 30 percent of the outstanding voting shares of Q-Video, Inc., for $770,000. Q-Video manufactures specialty cables for computer monitors. On that date, Q-Video reported assets and liabilities with book values of $1.9 million and $700,000, respectively. A customer list compiled by Q-Video had an appraised value of $300,000, although it was not recorded on its books. The expected remaining life of the customer list was five years with straight-line amortization deemed appropriate. Any remaining excess cost was not identifiable with any particular asset and thus was considered goodwill. Q-Video generated net income of $250,000 in 2020 and a net loss of $100,000 in 2021. In each of these two years, Q-Video declared and paid a cash dividend of $15,000 to its stockholders. During 2020, Q-Video sold inventory that had an original cost of $100,000 to Stream for $160,000. Of this balance, $80,000 was resold to outsiders during 2020, and the remainder was sold during 2021. In 2021, Q-Video sold inventory to Stream for $175,000. This inventory had cost only $140,000. Stream resold $100,000 of the inventory during 2021 and the rest during 2022. For 2020 and then for 2021, compute the amount that Stream should report as income from its investment in Q-Video in its external financial statements under the equity method. (Enter your answers in whole dollars and not in millions. Do not round intermediate calculations.)
Answer:
Stream Company
The amount that Stream Company should report as income from its investment in Q-Video in its external financial statements under the equity method:
2020 = $75,000
2021 = ($30,000)
Explanation:
a) Data and Calculations:
Equity share in Q-Video, Inc. = 30%
Cost of equity investment = $770,000
Q-Video Profits and dividends Stream's share
2020 net income = $250,000 $75,000 ($250,000 * 30%)
2021 net loss of $100,000 ($30,000) ($100,000 * 30%)
2020 dividends = $15,000 $4,500 ($15,000 * 30%)
2021 dividends = $15,000 $4,500 ($15,000 * 30%)
b)The equity method is used by Stream Company because its investment in Q-Video, Inc. is less than 51% and more than 20%. Under the equity method, Stream accounts for its share of net income and net loss. The investment is initially recorded at cost. Adjustments are then made to the cost balance at the end of every period by increasing it with the share of net income and decreasing it with its share of net loss and dividends received.
What would be the consequences if managers of a firm evaluated a project based on its actual dollar cash flows, but used a real rate to discount the cash flows? Would the project be more likely to be accepted, or more likely to be rejected? What kind of error could be committed? Please provide an example of how a project evaluation was affected by inflation considerations, either from your own experience, or do some online search for examples.
Answer:
Real rate of returns are lower than nominal rates of return, therefore, using a real discount rate would overestimate a project's net present value. This could result in unprofitable projects being accepted because the NPV was erroneously calculated. If you want to use a real discount rate, you must first convert cash flows to real dollars.
For example, nominal discount rate is 10%, inflation rate is 5%, real discount rate is 5%.
Initial outlay $100
NCF year 1 = $40
NCF year 2 = $40
NCF year 3 = $40
Using the real discount rate, the NPV = $8.93
Using the nominal discount rate, the NPV = -$0.53
. [3] Suppose you are considering buying a gold deposit. It will cost $1 million per year to construct a mine so that gold can be extracted. The construction period lasts 3 years. In the fourth year, production starts. Each year the mine operates, it will yield a net return (total revenue minus total cost) of $5,000, 000. Gold can be extracted for 6 years. Interested rates are 5%. a. What is the present value of the total net return (total benefit)
Answer:
The present value of the total net return (total benefit) is $21,922,868.23
Explanation:
As the yearly net return is a form of annuity cash flow.
To calculate the present value of the total net return we will use the following formula
First we need to determine the present value of net return at the end of year 3, then we will discount further to calculate the present value at year 0
Present value of net return at the end of year 3 = Yearly net return x ( 1 - ( 1 + Interest rate )^-Number of extraction years ) / Interest rate
Where
Yearly net return = $5,000,000
Interest rate = 5%
Number of extraction years = 6 years
Present value of net return at the end of year 3 = ?
Placing values in the formula
Present value of net return at the end of year 3 = $5,000,000 x ( 1 - ( 1 + 5% )^-6 ) / 5%
Present value of net return at the end of year 3 = $5,000,000 x 5.0756921
Present value of net return at the end of year 3 = $25,378,460.34
Now we need to discount the value further to calculate the present value at year 0
Present value of net return at the end of year 0 = Present value of net return at the end of year / ( 1 + Interest rate ) ^numbers of year
Present value of net return at the end of year 0 = $25,378,460.34 / ( 1 + 5% )^3
Present value of net return at the end of year 0 = $21,922,868.23
A company’s January 1, 2014 balance sheet reported total assets of $120,000 and total liabilities of $40,000. During January 2014, the following transactions occurred: (A) the company issued stock and collected cash totaling $30,000; (B) the company paid an account payable of $6,000; (C) the company purchased supplies for $1,000 with cash; (D) the company purchased land for $60,000 paying $10,000 with cash and signing a note payable for the balance. What is total stockholders’ equity after the transactions above?
A. $30,000.
B. $110,000.
C. $80,000.
D. $194,000.
Answer:
B. $110,000
Explanation:
Calculation for the total stockholders equity
First step is to calculate the Beginning equity
Beginning equity = $120,000 − $40,000
Beginning equity = $80,000.
Now let calculate the stockholders' equity
Stockholders' equity = $80,000 + $30,000
Stockholders' equity = $110,000
Therefore the total stockholders equity will be $110,000
Consider Cowboys Stadium, a large football stadium that can seat approximately 80,000 people (and hold over 100,000 people), located in Arlington, Texas.
If the Super Bowl, the game that determines pro football's champion team for the year, is played in Cowboys Stadium, the quantity of parking spots demanded will far exceed capacity. On a typical game day in the regular season, the quantity of parking spots demanded will only slightly exceed capacity. For smaller events, less than half of the parking spots are typically filled. Assume the marginal cost of providing another parking spot, once the parking lot has already been built, is $0 up to capacity.
In the following table, match each event to the most likely pricing strategy per parking spot.
Pricing Strategy Regular Season Game Super Bowl Small Event
$180 per spot ? ? ?
$4 per spot ? ? ?
$60 per spot ? ? ?
Answer:
180 dollar per spot is matched to the super bowl
4 dollar per spot is matched to small events
60 dollars per spot is matches to regular season game
Explanation:
the principle used in answering this question is that greater demand increases price. so large events would have greater demands for parking sots and hence reduced supply and greater prices.
first of all for the super bowl season the demands for parking spots are high, so that the demands are higher than the supply, so price should be highest here at $180 per spot.
secondly, for small events, the question says that less than half of the parking spots are filled, this means that the demand for parking spots is lower than the supply , so the price would be cheaper and therefore the lowest. The appropriate price would be $4 per spot.
lastly for regular season events, quantity demanded is only a little more than supply. they are almost equal. so the price should be the 60 dollars per spot as it is the second highest amount for the parking spots.
General Product Inc. distributed 100 million coupons in 2021. The coupons are redeemable for 30 cents each. General anticipates that 70% of the coupons will be redeemed. The coupons expire on December 31, 2022. There were 45 million coupons redeemed in 2021 and 30 million redeemed in 2022. General recognizes coupon promotion expense in the period coupons are issued. What was General's coupon promotion expense in 2021
Answer:
$21million
Explanation:
Calculation for What was General's coupon promotion expense in 2021
Using this formula
2021 General's coupon promotion expense= Distributed coupons × Redeemable × % redeemed
Let plug in the formula
2021 General's coupon promotion expense= 100million × $0.30 × 70%
2021 General's coupon promotion expense= $21million
Therefore 2021 General's coupon promotion expense will be $21million
For items 1 through 4, select from the first column option list provided the answer for each item that reflects how fund information is reported in the government-wide and fund financial statements. Each choice may be used once, more than once, or not at all.
In items 5 through 8, select from the second column option list provided the answer that indicates whether fund information about long-term liabilities and capital assets is reported in the government-wide and fund financial statements. Each financial statement component is reported in each fund.
Item
Information in governmental funds
Information in proprietary funds
Information in fiduciary funds
Government-wide financial statements:
1. Basis of accounting Accrual Accrual Modified cash
2. Measurement focus Current financial resources
Fund financial statements:
3. Basis of accounting Accrual
4. Measurement focus Current financial resources
Government-wide financial statements:
5. Long-term liabilities Yes
6. Capital assets Yes
Fund financial statements:
7. Long-term liabilities Yes
8. Capital assets
Answer:
1. Accrual
2. Modified Cash
3. Accrual
4. Current Financial resources
5. Yes
6. Yes
7. Yes
8. No
Explanation:
Accrual basis of accounting is a technique in accounting where expenses and revenue are recorded when they are incurred instead of when they are paid. The basis of accounting is accrual concept which compensates the matching concept. Measurement focus is based in current available financial resources and modified cash basis.
This information relates to McCall Real Estate Agency.
Oct. 1 Stockholders invest $31,930 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $30,600.
3 Buys office furniture for $3,850, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,770 (not paid by Roads at this time).
10 Receives cash of $155 as commission for acting as rental agent renting an apartment.
27 Pays $690 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $2,550 in salary for October.
Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Cr amount is entered. Do not indent manually.
Answer:
Oct. 1 Stockholders invest $31,930 in exchange for common stock of the corporation.
Dr Cash 31,930
Cr Common stock 31,930
Oct. 2 Hires an administrative assistant at an annual salary of $30,600.No journal entry
Oct. 3 Buys office furniture for $3,850, on account.
Dr Furniture 3,850
Cr Accounts payable 3,850
Oct. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $10,770 (not paid by Roads at this time).
Dr Accounts receivable 10,770
Cr Service revenue 10,770
Oct. 10 Receives cash of $155 as commission for acting as rental agent renting an apartment.
Dr Cash 155
Cr Service revenue 155
Oct. 27 Pays $690 on account for the office furniture purchased on October 3.
Dr Accounts payable 690
Cr Cash 690
Oct. 30 Pays the administrative assistant $2,550 in salary for October.
Dr Wages expense 2,550
Cr Cash 2,550
Papa John’s is one of the fastest-growing pizza delivery and carry-out restaurant chains in the country. Presented here are selected income statement and balance sheet amounts (dollars in thousands). Current Year Prior Year Net sales $ 1,242,087 $ 1,242,087 Net income 51,796 22,735 Average shareholders' equity 121,445 134,536 Average total assets 390,143 397,728 Required: 1. Compute ROA for the current and prior years. (Round your answers to 3 decimal places.)
Answer and Explanation:
The computation of the return on assets for the current and prior years are as follows:
As we know that
Return on assets = Net income ÷ average total assets
For current year
= $1,242,087 ÷ $390,143
= 3.184
And, for the prior year
= $1,242,087 ÷ $397,728
= 3.123
Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials. (Assume no indirect materials.) January 1 December 31
January 1 December 31
Inventories
Raw materials inventory $6,000 7,500
Work in process inventory 12,000 9,000
Finished goods inventory 8,500 5,500
Activity during the current year
Materials purchased $123,500
Direct labor 94,000
Factory overhead 39,000
Answer:
the direct material used is $122,000
Explanation:
The computation of the direct material used is shown below:
= Opening raw material inventory + material purchased - ending raw material inventory
= $6,000 + $123,500 - $7,500
= $122,000
Hence, the direct material used is $122,000
Which of the following is NOT a way to help you with time
management during a meeting?
O Check the clock frequently
O Ask for help resolving issues
O Ask attendees to help keep track of time
O Follow-up on issue you can solve immediately
Answer:
check the clock frequently
Nona Curry started her own consulting firm, Larkspur, Inc., on May 1, 2022. The following transactions occurred during the month of May.
May 1 Stockholders invested $18,150 cash in the business in exchange for
common stock.
2 Paid $726 for office rent for the month. 3 Purchased $605 of supplies
on account.
5 Paid $182 to advertise in the County News.
9 Received $1,694 cash for services performed.
12 Paid $242 cash dividend.
15 Performed $5,082 of services on account.
17 Paid $3,025 for employee salaries.
20 Paid for the supplies purchased on account on May 3.
23 Received a cash payment of $1,452 for services performed on account
on May 15.
26 Borrowed $6,050 from the bank on a note payable.
29 Purchased office equipment for $2,420 paying $242 in cash and the
balance on account.
30 Paid $218 for utilities.
A) Prepare an income statement for the month of May 2017.
B) Prepare a classified balance sheet at May 31, 2017.
Thankyou but im not interested
A group of middle school students wants to raise money to help build a new school track. They decided to sell donuts before school. Demand is 275 donuts when the donuts are given away free, and the demand drops to 175 donuts when the price is 25 cents per donut. However, the middle school administration is prepared to supply only 150 donuts free of charge but will supply 200 donuts when the price is 50 cents per donut. Assume that the demand and supply functions are both linear functions. What price should the students charge per donut so that there is neither a surplus nor a shortage of donuts
Answer:
25 cent/donuts
Explanation:
Demand function have these two points (275, 0), (175, 25)
Demand function equation:
y - 25 = [tex]\frac{25 - 0}{175-275}[/tex] (x-175)
-100y + 2500 = (x - 175)
-4y + 100 = x - 175
x + 4y = 100 + 175
x + 4y = 275....................equ 1
Similarly Supply function have these point (150,0), (200, 50)
Supply function equation:
y - 50 = [tex]\frac{50 - 0}{200-150}[/tex](x- 200)
50y - 2500 = x - 200
y - 50 = x - 200
x - y = 200 - 150
x - y = 150
By equation 1 & 2
x + 4y = 275
x - y = 150 ==> x = 150+y
So from equ 1 => x + 4y = 275
=> 150+y+4y = 275
=> 150+5y = 275
=> 5y = 275 - 150
=> 5y = 125
=> y = 25
So, the price that the students should charge per donut so that there is neither a surplus nor a shortage of donuts is 25 cent/donuts
Which benefit of market research does this example convey?
Jennifer works as a marketing manager for her company. Over the last year, she and her staff conducted many telephone and focus group
surveys, as well as interviews, to collect market research data from the company's existing customers. In the process, the research team
interacted with many customers and established a good rapport with them. This helped the business reap the benefits of
Answer:
customer loyalty
Explanation:
Customer loyalty: Through market research, a business communicates with its consumers. Consumers can give opinions and express grievances through the market research process. Such interaction can help a business establish a strong rapport with its consumers, which leads to customer loyalty.
Answer:
Costumer Loyalty
Explanation:
I took this exact test:
Type the correct answer in the box. Spell all words correctly.
Which benefit of market research does this example convey?
Jennifer works as a marketing manager for her company. Over the last year, she and her staff conducted many telephone and focus group surveys, as well as interviews, to collect market research data from the company’s existing customers. In the process, the research team interacted with many customers and established a good rapport with them. This helped the business reap the benefits of BLANK
Consider a chemical factory that is situated next to a farm. Airborne emissions from the chemical factory damage crops on the farm. The marginal benefits of emissions to the factory and the marginal costs of damage to the farmer are as follows: Quantity of emissions (Q) 100 200 300 400 500 600 700 800 900 MB to factory 320 280 240 200 160 120 80 40 0 MC to farmer 110 130 150 170 190 210 230 250 270 Calculate the total net benefit to the farmer and factory at the economically and socially efficient quantity of emissions. A. $63000 B. $62000 C. $60750 D. $61000
Answer:
Marginal Benefits of Emissions
Total net benefit to the farmer and factory at the economically and socially efficient quantity of emissions is $30,000 when the quantity of emission is 200 tons.
Explanation:
a) Data and Calculations:
Quantity of Marginal Marginal Total Net Benefit
emissions (Q) Benefits Cost or Cost
100 320 110 21,000
200 280 130 30,000
300 240 150 27,000
400 200 170 12,000
500 160 190 -15,000
600 120 210 -54,000
700 80 230 -105,000
800 40 250 -168,000
900 0 270 -243,000