Three explorers are getting kidnapped by an evil tribe deep in the jungle, and their life now depends on their ability to correctly answer the following challenge the evil tribe's chief has for them. The explorers are tied to three trees facing each other and are presented with the chief's 5 wives: 3 brunettes, and 2 blondes. The three explorers are now blindfolded, and the chief picks three of his five wives to stand behind the trees the explorers are tied to, one behind each tree. The remaining two wives disappear from view. Then the blindfolds come off, and each explorer is able to see the two wives that are standing behind his two colleagues, but not the one behind himself. Each explorer now has up to 10 minutes time to think, after which each has to correctly answer what hair color the wife has that is standing behind him, or lose his life. When you, as one of the three explorers, gain your sight after the blindfold comes off, you see two brunettes standing behind your two colleagues. And now your life depends on figuring out who is behind you: a blonde or a brunette?

Answers

Answer 1

Answer:

Brunette

Explanation:

Originally there were 3 brunettes and 2 blondes. If once you are able to see, you realize that 2 brunettes are standing behind your friends, that means that behind you there could be one of two blondes or the remaining brunette.

The possibility of the wife behind you being a blonde is 2/3 or 67%, while the chance of her being brunette is only 33%. But this question is not about probability, instead it is about game strategy. I would bet that the wife behind me is a brunette.

Imagine that the two women that you saw were blondes, then you would immediately say brunette. Even if you only saw one blonde wife, your obvious choice would be brunette. This applies to all 3 friends and the chief is gambling against you all 3. He will not give any of you any type of advantage.

Answer 2

The possibility of the wife behind you being a blonde is 2/3 or 67%, while the prospect of her being brunette is barely 33%. But this question isn't about probability, instead, it's about game strategy. I'd bet that the wife behind me could be a brunette.

Brunette

Originally there have been 3 brunettes and a pair of blondes. If once you're ready to see, you realize that 2 brunettes are standing behind your friends, which means that behind you there may be one in every of two blondes or the remaining brunette. Imagine that the 2 women that you just saw were blondes, then you'd immediately say brunette. Even if you simply saw one blonde wife, your obvious choice would be brunette. So this applies to all or any 3 friends and also the chief is gambling against you all 3. Then He won't give any of you any variety of advantages.

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Related Questions

For a program to be successful, readiness for training should be assessed on two dimensions: employee characteristics and work environment. The employee characteristics that are relevant to training are the ability to learn the subject matter, attitudes toward training, and motivation to learn. Even if these are present, however, training will not be effective unless there is a positive work environment—an environment that encourages learning and eliminates obstacles for trainee success.

An important characteristic of employee readiness is having basic learning skills, especially cognitive ability that includes using written and spoken language, solving math problems, and using logic to solve problems. If employees lack certain basic skills, they may have to attend some remedial classes before participating in job-related training. Seeing potential benefits from training programs may increase employee motivation to participate. Readiness for training also depends on work environment characteristics called situational constraints and social support. Constraints can include the limits of training's effectiveness from within the organization, such as lack of money or lack of time for training and practicing. Social support refers to the ways that the organization encourages training by expressing positive attitudes toward its training programs. The goal of this activity is to evaluate employee readiness for training.

Read each statement, then select the appropriate category

1. When new employees arrive on the sales floor after training at Hamilton Department Store, experienced employees have a tendency. Forget what you learned. This is how we really do it.
2. Time and again, Brooke's employees complained that the statistical quality control training was too difficult to be useful.
3. As much as she would like to. Elizabeth really doesn't think top management is going to allocate enough money to train everyone on the new software this year.
4. Although Jane really wanted to participate in the diversity training program, she knew it was impossible to get away from the office for three days in order to participate.
5. Ed was excited to hear about the new technical training program, but disappointed when he heard his boss say that he really didn't think the training was the time and effort

a. Social Support
b. Situational Constraints
c. Employee Readiness

Answers

Answer:

1.

by asking new employees to unlearn the theories they have so that they can learn on the job, these experienced employees are getting the new ones ready to start applying concepts. this shows social support from the old employees to the new ones

2.

these complaints by Brooke's employees shows employee readiness because the complaints are basically about not being able to find their way around around the training since they say it is too difficult.

3.

this is situational constraints as the question implies a constraint in funds available to train all employees on the new software. and it is causing an issue In getting all employees trained.

4.

this is situational constraint and time is the constraint. elizabeth though ready does not have the time for the training.

5. this is social support. ed's manager has caused him to reevaluate on this training because in his opinion it would be like a waste of time and effort.

Pooling has been used for a long time by businesses as a way to reduce risk. Imagine that years ago a small paint factory employed 200 people, each with an annual salary of $600/year. The factory owner knew from experience that 4 percent of workers were being injured each year, becoming unable to work. The factory owner decided to set up a fund to pay injured workers three months of salary to help their families and build good will with employees. The owner did not contribute to the injury fund. The workers themselves contributed a fixed amount each year to fund the plan. Answer the following questions (1 point each):_____.
1. How much did the owner need to collect from employees in total to fully fund the plan each year?
2. How much did each employee have to contribute each year to fully fund the plan?
3. What percentage of salary did each employee contribute to have an injury fund like this?

Answers

Answer:

1. Amount required to fund the plan = % of injured*Total employees* Annual salary

Amount required to fund the plan = 4%*200 people* $600

Amount required to fund the plan = $4800

2. Amount contributed by each employee = Amount required to fund the plan / Number of employees

Amount contributed by each employee = $4800/200

Amount contributed by each employee = $24

3. Percentage of salary = Amount contributed by each employee / Salary

Percentage of salary = 24/600

Percentage of salary =  0.04

Percentage of salary = 4%

Based on the preceding information, which of the following is an consolidating entry needed to prepare a full set of consolidated financial statements at December 31, 20X8:

A. Common Stock 200,000
Retained Earnings 150,000
Income from Tester Co. 40,000
Dividends declared 10,000
Investment in Tester Co. 285,000
NCI in NA of Tester Co. 95,000

B. Depreciation Expense 5,000
Income from Tester Co. 4,000
NCI in NI of Tester Co. 1,000

C. Common Stock 200,000
Retained Earnings 150,000
Income from Tester Co. 30,000
NCI in NI of Tester Co. 10,000
Dividends declared 10,000
Investment in Tester Co. 285,000
NCI in NA of Tester Co. 95,000

D. Patents 50,000
Accumulated Depreciation 10,000
Investment in Tester Co. 30,000
NCI in NA of Tester Co. 10,000

Answers

Answer:

Based on the preceding information, which of the following is an consolidating entry needed to prepare a full set of consolidated financial statements at December 31, 20X8:

Based on the preceding information, which of the following is an consolidating entry needed to prepare a full set of consolidated financial statements at December 31, 20X8:

A. Common Stock 200,000

Retained Earnings 150,000

Income from Tester Co. 40,000

Dividends declared 10,000

Investment in Tester Co. 285,000

NCI in NA of Tester Co. 95,000

Explanation:

Data:

A is the only correct answer.  With it, the following accounts are debited:

Common Stock 200,000

Retained Earnings 150,000

Income from Tester Co. 40,000

And these accounts are credited:

Dividends declared 10,000

Investment in Tester Co. 285,000

NCI in NA of Tester Co. 95,000

With these, the debit side and the credit side are made to be equal.  Again, debiting and crediting the above accounts eliminate them from the combined or consolidated financial statements since they are reflected on opposite sides of the parent and subsidiary's financial statements.

Three different companies each purchased trucks on January 1, 2018, for $76,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $6,000. All three trucks were driven 81,000 miles in 2018, 55,000 miles in 2019, 46,000 miles in 2020, and 71,000 miles in 2021. Each of the three companies earned $65,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation. Answer each of the following questions. Ignore the effects of income taxes.

Required:
a. Calculate the net income for 2021?
b. Which company will report the lowest amount of net income for 2021?
c. Calculate the book value on the December 31, 2020, balance sheet?
d. Which company will report the highest book value on the December 31, 2020, balance sheet?
e. Calculate the retained earnings on the December 31, 2021, balance sheet?
f. Which company will report the highest amount of retained earnings on the December 31, 2021, balance sheet?

Answers

Answer:

a) 2021:                           Company A    Company B    Company C

Sales Revenue                  $65,000         $65,000         $65,000

Depreciation                         17,500             3,500              19,880

Net Income                       $47,500            61,500           $45,120

b) Company C.

c) Book Value on December 31, 2020 Balance Sheet:

                                           Company A    Company B    Company C

Truck                                     $76,000         $76,000         $76,000

Accumulated Depreciation $52,500         $66,500         $50,960

Book value                           $23,500         $9,500           $25,040

d) Company reporting the highest book value on December 31, 2020:

Company C.

e) Retained Earnings:

                                       Company A    Company B    Company C

2018:

Net Income                       $47,500            27,000         $42,320

2019:

Net Income                       $47,500            46,000          $49,600

2020:

Net Income                        $47,500            55,500          $52,120

2021:

Net Income                       $47,500            61,500           $45,120

Retained earnings         $190,000        $190,000          $189,160

f) Companies A and B will report the highest amount of retained earnings because C's units of production did not tally to 250,000.

Explanation:

Cost of Truck = $76,000

Lifespan = 4 years or 250,000 miles

Salvage value = $6,000

Depreciable amount = $70,000 ($76,000 - $6,000)

Straight-line rate = $17,500 ($70,000/4) or 25% (100/4) per year

Double-declining balance rate = 50% (100/4 * 2) on the book balance

Units of production  rate = $0.28 ($70,000/250,000) per unit

Income Statement for the three companies:

                                        Company A    Company B    Company C

2018:

Sales Revenue                  $65,000         $65,000         $65,000

Depreciation                         17,500            38,000           22,680

Net Income                       $47,500            27,000         $42,320

2019:

Sales Revenue                  $65,000         $65,000         $65,000

Depreciation                         17,500            19,000             15,400

Net Income                       $47,500            46,000          $49,600

2020:

Sales Revenue                   $65,000         $65,000         $65,000

Depreciation                         17,500              9,500             12,880

Net Income                        $47,500            55,500          $52,120

2021:

Sales Revenue                  $65,000         $65,000         $65,000

Depreciation                         17,500             3,500              19,880

Net Income                       $47,500            61,500           $45,120

Accumulated Depreciation:

                                            Company A    Company B    Company C

Depreciation  2018                  17,500            38,000            22,680

Depreciation  2019                  17,500            19,000             15,400

Accumulated Depreciation  $35,000         $57,000          $38,080

Depreciation 2020                  17,500             9,500             12,880

Accumulated Depreciation $52,500         $66,500         $50,960

Depreciation 2021                  17,500              3,500             19,880

Accumulated Depreciation $70,000         $70,000          $70,840

connecting u dropped its price from $20 to $16 per gigabyte of data. Joe according to the midpoint formula, Connecting U reduced its price by what percentage?

Answers

Answer:

-$22.2

Explanation:

The computation of price by percentage is shown below:-

Price by percentage = (End price - Beginning price) ÷ (End price - Beginning price) ÷ 2 × 100

= ($16 - $20) ÷ ($16 - $20) ÷ 2 × 100

= -$4 ÷ $18 × 100

= -$400 ÷ $18

= -$22.2

So, we have applied the above formula.

And, the same is to be considered

Connecting u dropped price in percentage is 22.2%

Midpoint formula:

Given that;

Old price = $20

New price = $16

Find:

Connecting u dropped price in percentage

Computation:

[tex]Dropped\ price\ in\ percentage=[\frac{16-20}{\frac{16+20}{2} }]100\\\\Dropped\ price\ in\ percentage=[\frac{16-20}{18}]100\\\\Dropped\ price\ in\ percentage=[\frac{-4}{18}]100\\\\Dropped\ price\ in\ percentage=22.2[/tex]

Connecting u dropped price in percentage = 22.2%

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Post the journal entries to the​ T-accounts, using transaction dates as posting references in the ledger accounts.

Jul.
1. Yardley contributed $68,000 cash to the business in exchange for common stock.
5. Paid monthly rent on medical equipment, $510.
9. Paid $16,000 cash to purchase land to be used in operations.
10. Purchased office supplies on account, $1 ,600.
19. Borrowed $26,000 from the bank for business use.
22. Paid $1 , 100 on account.
28. The business received a bill for advertising in the daily newspaper to be paid in August, $250.
31. Revenues earned during the month included $6,300 cash and $5,300 on account.
31. Paid employees' salaries $1 ,900, office rent $1 ,400, and utilities $600. Record as a compound entry.
31. The business received $1 ,340 for medical screening services to be performed next month.
31. Paid cash dividends of $6,900.

Answers

Answer:

July 1. Yardley contributed $68,000 cash to the business in exchange for common stock.

Dr cash 68,000

    Cr common stock 68,000

July 5. Paid monthly rent on medical equipment, $510.

Dr rent expense 510

    Cr cash 510

July 9. Paid $16,000 cash to purchase land to be used in operations.

Dr land 16,000

    Cr cash 16,000

July 10. Purchased office supplies on account, $1 ,600.

Dr office supplies 1,600

    Cr accounts payable 1,600

July 19. Borrowed $26,000 from the bank for business use.

Dr cash 26,000

    Cr notes payable 26,000

July 22. Paid $1,100 on account.

Dr accounts payable 1,100

    Cr cash 1,100

July 28. The business received a bill for advertising in the daily newspaper to be paid in August, $250.

Dr advertising expense 250

    Cr accounts payable 250

July 31. Revenues earned during the month included $6,300 cash and $5,300 on account.

Dr cash 6,300

Dr accounts receivable 5,300

    Cr service revenue 11,600

July 31. Paid employees' salaries $1 ,900, office rent $1 ,400, and utilities $600. Record as a compound entry.

Dr wages expense 1,900

Dr rent expense 1,400

Dr utilities expense 600

    Cr cash 3,900

July 31. The business received $1 ,340 for medical screening services to be performed next month.

Dr cash 1,340

    Cr unearned revenue 1,340

July 31. Paid cash dividends of $6,900.

Dr dividends 6,900

    Cr cash 6,900

cash

              debit                    credit

July 1      68,000

July 5                                  510

July 9                                  16,000

July 19    26,000

July 22                                1,100

July 31    6,300

July 31                                  3,900

July 31    1,340

July 31                                 6,900

               101,640

accounts receivable

              debit                    credit

July 31    5,300

office supplies

              debit                    credit

July 10   1,600

land

              debit                    credit

July 9     16,000

accounts payable

              debit                    credit

July 10                                1,600

July 22   1,100

July 28                              250    

                                          750

unearned revenue

              debit                    credit

July 31                                1,340

notes payable

              debit                    credit

July 19                                26,000

common stock

              debit                    credit

July 1                                  68,000

service revenue

              debit                    credit

July 31                                11,600

rent expense

              debit                    credit

July 5     510

July 31    1,400

advertising expense

              debit                    credit

July 28   250

wages expense

              debit                    credit

July 31   1,900

utilities expense

              debit                    credit

July 31    600

dividends

              debit                    credit

July 31    6,900

Pitt Enterprises manufactures jeans. All materials are introduced at the beginning of the manufacturing process in the Cutting Department. Conversion costs are incurred uniformly throughout the manufacturing process. As the cutting of material is completed, the pieces are immediately transferred to the Sewing Department. Information for the Cutting Department for the month of May follows.

Work in Process, May 1 (54,000 units, 100% complete for direct materials, 35% complete with respect to conversion costs; includes $78,500 of direct material cost; $42,050 of conversion costs).

Units started in May 233,000
Units completed in May 208,000

Work in Process, May 31 (79,000 units, 100% complete for direct materials; 15% complete for conversion costs).

Costs incurred in May

Direct materials $391,440
Conversion costs $401,900

Required:
If Pitt Enterprises uses the FIFO method of process costing, compute the cost per equivalent unit for direct materials and conversion costs respectively for May.

Answers

Answer:

cost per equivalent unit : materials = $1.37  and conversion costs = $1.78.

Explanation:

Please note that we have to use FIFO costing method

Calculation of the Equivalent Units of Production with respect to Materials and Conversion Costs

1. Raw Materials

To finish Beginning Work In Process (54,000 × 0%)                         0

Started and Completed ((233,000 - 54,000) × 100%)                  179,000

Ending Work In Process (79,000 × 100%)                                      79,000

Equivalent Units of Production with respect to Materials           258,000

1. Conversion Cost

To finish Beginning Work In Process (54,000 × 65%)                   35,100

Started and Completed ((233,000 - 54,000) × 100%)                  179,000

Ending Work In Process (79,000 × 15%)                                          11,850

Equivalent Units of Production with respect to Conversion       225,950

Calculation of the cost per equivalent unit for direct materials and conversion costs.

Unit Cost = Current Period Costs ÷ Equivalent units of production

1. Raw Materials

Unit Cost = $391,440 ÷ 258,000

                = $1.37

2. Conversion Cost

Unit Cost = $401,900 ÷ 225,950

                = $1.78

Porter theorizes that the four attributes in his diamond model may promote or impede the creation of competitive advantage. Factor endowments are a nation's position in factors of production such as skilled labor or infrastructure necessary to compete in a given industry. Demand conditions are the nature of home demand for the industry's product or service. Related and supporting industries are the presence or absence of supplier industries and related industries that are internationally competitive. Firm strategy, structure, and rivalry are the conditions governing how companies are created, organized, and managed and the nature of domestic rivalry.

Required:
What is the most appropriate attribute of national competive advaritage from Porter's theory?

Answers

Explanation:

The most appropriate attribute of the national competitive advantage of Porter's theory is factor endowments.

This attribute corresponds to the one that can most significantly impact the competitive position that a company will have in the market, as it refers to the conditions that a company will have to develop its essential factors such as labor, technology, capital, etc., these factors being totally influenced by the local economy and its favorable conditions for the flow of business.

For this reason, it is necessary to have government incentives for public and private companies through the development of economic policies that favor the competitiveness of companies and the improvement of their factors, increasing their quality and efficiency.

Skidmore Music Company had the following transactions in March:
a. Sold instruments to customers for $16, 700, received $10, 700 in cash and the rest on account. The cost of the instruments was $7, 100.
b. Purchased $4, 900 of new instruments inventory; paid $1, 700 in cash and owed the rest on account.
c. Paid $720 in wages for the month.
d. Received $3, 100 from customers as deposits on orders of new instruments to be sold to the customers in April.
e. Received a $280 bill for March utilities that will be paid in April.
Required:
Complete the following statements:
1. Cash basis Income Statement
2. Accrual basis Income Statement

Answers

Answer:

Please sew below

Explanation:

Skidmore Music Company.

1. Cash basis income statement

Sales

$13,800

Less: cost of goods sold

$1,700

Gross income

$12,100

Wages expense

$720

Operating income

$11,380

2. Accrual basis income statement

Sales.

$16,700

Less: cost of goods sold

$4,900

Gross income

$11,800

Wages expense

($720)

Utility expense

($280)

Operating income

$10,800

Which of the following is a key role that a human resource manager can play in a company?

A. Public Relations officer
B. Marking Analyst
C. Training specialist
D. Sales supervisor

Answers

Answer:

c training specialist

Hussein got a call yesterday from First Bank, the company that issued his credit card inquiring about an $105.00 charge made in Buenos Aires, Argentina. Upon learning that Hussein was in Detroit and had not made this purchase, the bank quickly took steps to cancel the card and issue a new one. Given the circumstances that Hussein's credit card number had an illegal transaction, he may also want to:____________.
A) check his computer's firewall to make sure it's working.
B) cancel his account and eliminate credit cards from his life.
C) change his passwords and store them in a password manager.
D) diversify his spending habits by using one of several credit cards when making purchases.

Answers

Answer:

C) change his passwords and store them in a password manager.

Explanation:

Hussein, being a victim of cyber theft of money from his bank account, after having informed bank about the fraudulent transaction, should :-

Take further precautionary measures for modifying & safely saving other related crucial information, like passwords. So, he should change his passwords and store them in a password manager.

Kim is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1,760 per month. Her employer deducts $199 for taxes from her monthly pay. Kim also pays $189 on several credit card debts each month. The loan she needs for chiropractic school will cost an additional $172 per month. Help Kim make her decision by calculating her debt payments-to-income ratio with and without the college loan.

Required:
a. Carl’s house payment is $1,640 per month and his car payment is $482 per month. If Carl's take-home pay is $3,250 per month, what percentage does Carl spend on his home and car?
b. Suppose that your monthly net income is $2,850. Your monthly debt payments include your student loan payment and a gas credit card. They total $1,140. What is your debt payments-to-income ratio?

Answers

Answer:

1. Kim:

Debt payments-to-income ratio with the college loan

= 23%

2. Carl:

Percentage spent on home and car

= 65.3%

3. Debt payment to income ratio

= 40%

Explanation:

Kim's Data and Calculations:

Gross income = $1,760

Income taxes         -199

After Tax Income $1,561 per month

Credit card debts = $189 per month

School loan = $172 per month

Total Debt payments = $361

Debt payments-to-income ratio with the college loan

= $361/$1,561 = 23%

Carl:

House payment = $1,640

Car payment = $482

Total payments = $2,122

Take-home pay = $3,250

Percentage spent on home and car = 65.3% ($2,122/$3,250 * 100)

3. My monthly net income = $2,850

Monthly debt payments = $1,140

Debt payment to income ratio

= $1,140/$2,850 * 100

= 0.4

= 40%

Larkspur Incorporated factored $124,300 of accounts receivable with Cullumber Factors Inc. on a without-recourse basis. Cullumber assesses a 2% finance charge of the amount of accounts receivable and retains an amount equal to 5% of accounts receivable for possible adjustments.

Required:
Prepare the journal entry for Larkspur Incorporated and Cullumber Factors to record the factoring of the accounts receivable to Cullumber.

Answers

Answer:

Larkspur Incorporated

DR Cash                                                           115,599

     Due from Factor (Cullumber)                       6,215

     Loss on Sale of Receivables                       2,486

     CR Accounts Receivable                                               124,300

Working

Due from Factor = 5% * 124,300

= $‭6,215‬

Loss on sale of receivables = 2% * 124,300

= $‭2,486‬

Cash = 124,300 - 6,215 - 2,486

= $‭115,599‬

Cullumber Factors Inc.

DR Accounts Receivable                                       124,300

     CR Due to Larkspur                                                             6,215

           Financing Revenue                                                        2,486

           Cash                                                                              115,599

On January 1, 2021, Jasperse Corporation leased equipment under a finance lease designed to earn the lessor a 10% rate of return for providing long-term financing. The lease agreement specified ten annual payments of $90,000 beginning January 1, and each December 31 thereafter through 2029. A 10-year service agreement was scheduled to provide maintenance of the equipment as required for a fee of $5,000 per year. Insurance premiums of $4,000 annually are related to the equipment. Both amounts were to be paid by the lessor and lease payments reflect both expenditures (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
At what amount will Jasperse record a right-of-use asset?
PV factors based on
Table or Calculator function: PVAD of $1
Lease Payment
n = 10
i = 12%
Right-of-use asset

Answers

Answer:

$574,517

Explanation:

Calculation for the amount that Jasperse will record a right-of-use asset

Annual payments = $90,000

Annual maintenance = $5,000 per year

Rate of interest = 10%

Period, n = 10 years

Right of use asset =(90,000 – 5,000) x PVAD, 10%, 10

Right of use asset= 85,000 ×6.75902

Right of use asset= $574,517

Therefore Right-of-use asset will be $574,517

Lipscomb Corporation is estimating its WACC. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60 percent common equity. Its bonds have a 12 percent coupon, paid semiannually, a current maturity of 20 years, and sell for 1,000 USD. The firm could sell, at par, 100 USD preferred stock which pays a 12 percent annual dividend, but flotation costs of 5 percent would be incurred. Libscomb is a constant-growth firm which just paid a dividend of $2.00, sells for 27.00 USD per share, and has a growth rate of 8 percent. The firm's marginal tax rate is 40.

Required:
a. What is Rollins' cost of common stock using the bond-yield-plus-risk-premium approach?
b. What is Rollins' WACC?

Answers

Answer:

a. 16%

b.  13.566%

Explanation:

The weighted average cost of capital is the rate that a company is expected to pay on average to all its security holders to finance its assets. The WACC is commonly referred to as the firm's cost of capital.

DATA

P is price = 27

G is growth = 8%

Tax rate = 40%

Requirement a.

When the market rate of bond is equal to par value then yield is equal to the coupon rate

Tax rate = 12(1-0.4) = 7.2%

Cost of preferred stock = dividend/price

There will be a 5% floatation cost so net proceeds is 95

Cost of preferred stock = 12/95 = 12.63%

Cost of equity = D1/P + g

Where D1 is dividend for year 1 = 2+8% = 2.16

Cost of equity = 2.16/27 + 0.08

Cost of equity = 16%

Requirement  b

Wacc = 7.2×20% + 12.63×20% + 16×60%

Wacc = 13.566%

At the beginning of the year, Monroe Company estimates annual overhead costs to be $500,000 and that 250,000 machine hours will be operated. Using machine hours as a base, the amount of overhead applied during the year if actual machine hours for the year was 150,000 hours is A.$500,000. B.$300,000. C.$600,000. D.$150,000.

Answers

Answer:

Allocated MOH= $300,000

Explanation:

Giving the following information:

Estimated annual overhead costs= $500,000

Estimated machine-hour= 250,000

Actual machine-hour= 150,000

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 500,000/250,000

Predetermined manufacturing overhead rate= $2 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 2*150,000= $300,000

Ken is 63 years old and unmarried. He retired at age 55 when he sold his business, Understock.com. Though Ken is retired, he is still very active. Ken reported the following financial information this year. Assume Ken files as a single taxpayer.
a. Ken won $1,200 in an illegal game of poker (the game was played in Utah, where gambling is illegal).
b. Ken sold 1,000 shares of stock for $32 a share. He inherited the stock two years ago. His tax basis (or investment) in the stock was $31 per share.
c. Ken received $25,000 from an annuity he purchased eight years ago. He purchased the annuity, to be paid annually for 20 years, for $210,000.
d. Ken received $13,000 in disability benefits for the year. He purchased the disability insurance policy last year.
e. Ken decided to go back to school to learn about European history. He received a $500 cash scholarship to attend. He used $300 to pay for his books and tuition, and he applied the rest toward his new car payment.
f. Ken's son, Mike, instructed his employer to make half of his final paycheck of the year payable to Ken. Ken received the check on December 30 in the amount of $1,100.
g. Ken received a $610 refund of the $3,600 in state income taxes his employer withheld from his pay last year. Ken claimed $6,250 in itemized deductions last year (the standard deduction for a single filer was $6,200).
h. Ken received $30,000 of interest from corporate bonds and money market accounts.
Determine Ken's gross income

Answers

Answer: $‭46,950‬

Explanation:

a. All sources of income should be included including illegal ones.

b. Gain = 1,000 (32 - 31)

= $1,000

c. Gain = Amount received - Amount paid apportioned per year

=  25,000 - (210,000/20)

= 25,000 - 10,500

= $14,500

d. Not included as disability benefits are not included.

e. The $300 is deductible but the $200 that went towards car payment is not.

f. Taxation principles require that the person taxed should be the person earning the income so Ken will not be charged on the $1,100

g. The relevant figure here is the tax benefit before the $610 refund.

Ken claimed $6,250 in itemized deduction but the standard deduction is $6,200. Ken gained;

= 6,250 - 6,2000

= $50

h. The $30,000 is included as Ken earned it.

Gross Income = 1,200 + 1,000 + 14,500 + 200 + 50 + 30,000

= $‭46,950‬

Triec, Inc., is a small electrical contracting company in Springfield, Ohio, owned by its executives Yeazell, Jones, and Heaton. Employees contacted the International Brotherhood of Electrical Workers, which began an organizing drive, and 6 of the 11 employees in the bargaining unit signed authorization cards. The company declined to recognize the union, which petitioned the NLRB to schedule an election. The company then granted several new benefits for all workers, including higher wages, paid vacations, and other measures. When the election was held, only 2 of the 11 bargaining unit members voted for the union. Did the company violate the NLRA?

Answers

Answer:

Triec, inc., violated the National Labor Relations Act (NLRA) because it directly interfered with the organization of a union within the company.

The NLRA allows private employees to join or form a union, and the company cannot interfere in any of these. E.g. a company cannot fire or punish in any way an employee for joining a union. A company cannot interfere with the creation of a union.

In this case, the company granted the new benefits in order to convince its workers to not form the union.

An internal control system consists of the policies and procedures managers use to protect assets, ensure reliable accounting, promote efficient operations, and uphold company policies. It can prevent avoidable losses and help managers both plan operations and monitor company and human performance. Principles of good internal control include establishing responsibilities, maintaining adequate records, insuring assets and bonding employees, separating recordkeeping from custody of assets, dividing responsibilities for related transactions, applying technological controls, and performing regular independent reviews.
Sarbanes-Oxley Act requires each of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark willl be automatically graded as incorrect.)
An effective internal control
Light penalties for violators
Auditors must evaluate internal controls
Auditor's work overseen by Public Accounting Board

Answers

Answer:

An effective internal control Auditors must evaluate internal controls

Explanation:

The Sarbanes Oxley Act (SOX) was passed in the aftermath of several accounting scandals that shook the business world including the Enron and Worldcom sagas. The Government then decided to implement tougher accounting requirements to ensure that such does not happen again.

One way that SOX does this is to require that companies maintain a robust and effective internal control system which are Auditor evaluated that will catch errors and false information more effectively.

Carmel Corporation is considering the purchase of a machine costing $38,000 with a 4-year useful life and no salvage value. Carmel uses straight-line depreciation and assumes that the annual cash inflow from the machine will be received uniformly throughout each year. In calculating the accounting rate of return, what is Carmel's average investment?

Answers

Answer:

$19,000

Explanation

Calculation for Carmel's average investment

Using this formula

Average investment=Investment/2

Let plug in the formula

Average investment=($38,000 + $0)/2

Average investment=$19,000

Therefore Carmel's average investment will be $19,000

The Dean of Admissions at Pace University is considering a survey of high school seniors in order to design better promotional materials for Pace. Discuss the issues to be considered, the different methods of conducting this survey, and the advantages and disadvantages of each.

Answers

Answer:

different methods can be used here to conduct this survey

1.questionnaire method

2. focus groups

3. interview

Explanation:

Answer 1)

We have several ways of conducting a research.  t, the research issue is basically to know how can the university can do better promotion of their their school, theyaretring to put their school on the spotlight on how they can get  more students to be interested in the university and what can be done to raise awareness le about the school.

different methods of doing this survey:

1) Questionnaire Method:

in this survey method through the use of Google forms or other survey sites, the students can get a link where they can fill in their preferences or make suggestions by writing. it is quite a popular and simple way of doing a survey.

Advantages

· It has a good rate of Representativeness.

· it is relatively cheap

· data can be gotten in a convenient way

· it gives good Statistical Significance

· its design is inflexible

Disadvantages

· Respondents do not always give exact and fair answers.

· it is difficult to convey emotions through this

· There may be a problem in understanding and interpreting some of the qusetsions

. developing rapport can be quite an issue

2) Focus Group:

Focus group discussions is another method where some of the students and the dean who acts as a moderator, organizes a meeting and everyone is given the opportunity to share useful inputs.

Advantages

· Its easy to see and know the emotions of the respondents based on the issues at hand

. uncovered ideas would be discussed

. gives an opportunity to know the view point of everyone present·  

Disadvantages

· people may not want to convey their true thoughts or belief about the discussion on ground.

· people may be reluctant to chip in their perspective especially if it is against tahtof another member

· students would be made to give responses to things they have not seen or experienced

3) Interviews:

the use of Interview is the most reliable way of going about this survey. the dean would be able to generate original data. few students can be interviewed and their inputs can be taken regarding the issue.  

Advantages

· adaptability on the side of interviewers

. better response rate

. flexibility on the side of interviewer

disadvantage

time consuming

provides less anonymity

costly

it could be biased

Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30.

a. Beginning cash balance, September 1, $41,000.
b. Budgeted cash receipts from sales in September, $258,000.
c. Raw materials are purchased on account. Purchase amounts are August (actual), $72,000, and September (budgeted), $108,000. Payments for direct materials are made as follows: 70% in the month of purchase and 30% in the month following purchase.
d. Budgeted cash payments for direct labor in September, $30,000.
e. Budgeted depreciation expense for September, $3,800.
f. Other cash expenses budgeted for September, $59,000.
g. Accrued income taxes payable in September, $10,800.
h. Bank loan interest payable in September, $1,700.

Answers

Answer and Explanation:

The Preparation of the cash budget is shown below:-

PTO Co.

Cash budget

For the month ended Sept. 30

Particulars Amount

Beginning cash balance $41,000

Add: Cash receipts for sales $258,000

Total cash available $299,000

LesS:

Cash disbursement

Direct Material $97,200

($72,000 × 30%) + ($108,000 × 70%)

Direct labor $30,000

Other expenses $59,000

Accrued Taxes $10,800

Interest on bank loan $1,700

Total Cash disbursement $198,700

Ending cash balance $100,300

O’Hara Associates sells golf clubs, and with each sale of a full set of clubs provides complementary club-fitting services. A full set of clubs with the fitting services sells for $1,400. O’Hara estimates that it incurs $50 of staff compensation and other costs to provide the fitting services, and normally earns 20% over cost on similar services. Assuming that the golf clubs and the club-fitting services are separate performance obligations, estimate the stand-alone selling price of the club-fitting services using the expected cost plus margin approach.

Answers

Answer:

$60.00

Explanation:

Calculation to estimate the stand-alone selling price

Hara Amount $ Note

Staff compensation $50.00

Mark up % 20%

Mark up amount $10.00

(20%*$50)

Standalone selling price of club fitting services $60.00

($50.00+$10.00)

Therefore the estimated stand-alone selling price will be $60.00

Example 1: Alex began putting money in his 401(k) in his early 20s; consequently, he will have financial security when he retires.
Example 2: Louise is the most qualified candidate for the position; therefore, we should hire her.

Identify the correctly written compound sentences. Check all that apply.

a. All e-mail, even once deleted, is retrievable and, therefore, you should avoid sending sensitive information in an e-mail.
b. E-mail facilitates collaboration between people in remote locations; however, when collaboration requires the exchange of large data files, it is often easier to use web-based collaboration software.
c. Many people prefer e-mail over phone conversations, they leave a written record.
d. E-mail can be an efficient way to communicate, and it makes communicating across time zones much easier.

Answers

Answer:

b. E-mail facilitates collaboration between people in remote locations; however, when collaboration requires the exchange of large data files, it is often easier to use web-based collaboration software.

d. E-mail can be an efficient way to communicate, and it makes communicating across time zones much easier.

Explanation

Sentence B is correct because it employs the use of a semicolon to separate two independent clauses. The use of the conjunction, however, helps to separate two sentences that have opposite connotations.

Sentence D is correct because the conjunction, and, was used appropriately to add a second thought to the sentence. The comma was also used correctly as it spliced the sentence and was immediately followed by the conjunction, and.

Lilla sees a search ad on her mobile phone for a restaurant. A button on the ad allows Jessica to click on the button and call the restaurant. This is a

Answers

Answer: Click-to-call ad

Explanation:

From the question, we are informed that Lilla sees a search ad on her mobile phone for a restaurant and a button on the ad allows Jessica to click on the button and call the restaurant.

It should be noted that the above is a click-to-call ad. They are form of Google Ads that when someone clicks them, it calls the business directly rather than linking to the website of the business. They are important to marketing campaigns.

The following information is available for Mergenthaler Corporation for the year ended December 31, 2022:

Collection of principal on long-term loan to a supplier $16,000
Acquisition of equipment for cash 10,000
Proceeds from the sale of long-term investment at book value 22,000
Issuance of common stock for cash 20,000
Depreciation expense 25,000
Redemption of bonds payable at carrying (book) value 34,000
Payment of cash dividends 6,000
Net income 30,000
Purchase of land by issuing bonds payable 40,000

In addition, the following information is available from the comparative balance sheet for Mergenthaler at the end of 2022 and 2021:

2021 2022
Cash $148,000 $91,000
Accounts receivable (net) 25,000 15,000
Prepaid insurance 19,000 13,000
Total current assets $192,000 $119,000
Accounts payable $30,000 $19,000
Salaries and wages payable 6,000 7,000
Total current liabilities $36,000 $26,000

Required:
Prepare Mergenthaler's statement of cash flows for the year ended December 31, 2014, using the indirect method.

Answers

Answer:

Cash Flow from Operating Activities          Amount$

Net Income                                                        30000

Add Depreciation Expense                              25000

Increase in Accounts Payable                          11000

Increase in Accounts Receivables                  -10000

Increase in Prepaid Insurance                         -6000

Decrease in Salaries and Wages Payable       -1000

Net Cash Flow from Operating Activities A  49000

Cash Flow from Investing Activities

Acquisition of Equipment for Cash                      -10000

Proceeds from Sale of Long-Term Investment    22000

Net Cash Flow from Investing Activities B         12000

Cash Flow from Financing Activities

Redemption of Bonds Payable                            -34000

Proceeds from Issuance of Common Stock        20000

Payment of Cash Dividends                                 -6000

Collection of Principal on Long-Term Loan         16000

Net Cash Used in Financing Activities C           -4000

Opening Cash Balance                                        91000

Add Increase in Cash (A+B+C)                             57000

Closing Cash Balance                                          148000

Below is the Retained Earnings account for the year 2020 for Swifty Corp. Retained earnings, January 1, 2020 $261,300 Add:_______.
Gain on sale of investments (net of tax) $44,900
Net income 88,200
Refund on litigation with government, related to the year 2017 (net of tax) 25,300
Recognition of income earned in 2019, but omitted from income statement in that year (net of tax) 29,100 187,500 448,800
Deduct:
Loss on discontinued operations (net of tax) 38,700
Write-off of goodwill (net of tax) 63,700
Cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2020 (net of tax) 26,900
Cash dividends declared 35,700 165,000
Retained earnings, December 31, 2020 $283,800
Prepare a corrected retained earnings statement. Waterway Corp. normally sells investments of the type mentioned above. FIFO inventory was used in 2020 to compute net income. (List items that increase adjusted retained earnings first.)

Answers

Answer: See attachment

Explanation:

The retained earnings as at December 31, 2020 was gotten as $283,800. In the attachment, net income was calculated as:

Net income = $88,200

Add: Gain on investment sale = $44,900

Add: Refund on litigation = $25,300

Less: loss on discounted Operation = $38,700

Less: Goodwill write-off = $63,700

Net income = $56,000

Check the attachment for further explanation

Parent Inc acquired 90% of Sub Inc on January 1, 20X8. Parent paid 50% of the acquisition price by cash and fund the rest with a notes payable. The book value of Sub’s individual assets and liabilities approximated their acquisition-date fair values. On the date of acquisition, Sub reported the following:

Cash and Receivables $116,000
Accounts Payable 531,000
Inventory 331,000
Buildings & Equipment (net) 621,000
Common Stock 585,000
Land 748,000
Retained Earnings 700,000
Total $1,816,000
Total 1,816,000

During the year Sub reported $800,000 in net income and declared $432,000 in dividends. Parent reported $506,000 in net income and declared $196,000 in dividends. Parent accounts for their investment using the equity method.

Required:
a. What journal entry will Parent make on the date of acquisition to record the investment in Son Inc.?
b. If Parent were to prepare a consolidated balance sheet on the acquisition date (January 31, 20X2), what is the basic consolidation entry Parent would use in the consolidation worksheet?
c. What is Parent’s balance in "Investment in Son Inc." prior to consolidation on December 31, 20X2?
d. What is the basic consolidation entry Parent would use in the consolidation worksheet on December 31, 20X2?

Answers

Answer and Explanation:

Please find attached

Which of these is a way that politicians in the United States attempt to influence the media?

Answers

Answer:

They try to “spin” the news by manipulating

Explanation:

Answer:

Hope it helps

Explanation:

because they are tools that can be used to inform and mobilize users in new ways. Users are able to connect directly to politicians and campaign managers and engage in political activities in new ways.They try to "spin" the news by manipulating how reporters interpret events

Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
1. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2. Purchased $500 of supplies on credit.
3. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
4. Real estate commissions billed to clients amount to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $250 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $800 for advertising for the current month.
8. Paid $2,500 cash for office salaries.
9. Paid $1,200 cash dividends to stockholders.
10.Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.

Answers

Answer and Explanation:

The journal entries are  shown below:

1. Cash  $40,000

       To Common stock $40,000

(Being invested amount is recorded)

2. Supplies Dr $500

         To Account payable $500

(Being supplies purchased on account is recorded)

3. Equipment $25,000

       To Cash $3,500

      To Note payable $21,500

(Being equipment purchased is recorded)

4. Account receivable Dr $4,000

          To Commission revenue $4,000

(being the commission revenue is recorded_

5. Rent expenses $700

        To Cash  $700

(Being rent paid in cash is recorded)

6. Accounts payable $250

          To cash $250

(being cash paid is recorded)

7. Advertising expense Dr  $800

          To Account payable $800

(Being advertising expense is recorded)

8. Salaries expense $2,500

       To cash $2,500

(being cash paid is recorded)

9. Dividend Dr $1,200

     To cash $1,200

(being cash paid is recorded)

10. Bank Dr $2,000

          To Account receivable $2,000

(being receiving of check is recorded)

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