Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $120 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $59; postage expenses, $74; and miscellaneous expenses, $144. The petty cashier could not account for a $13 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory.
Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $440.
1-Prepare the journal entry to establish the Petty Cash fund.
2-Record the reimbursement of the petty cash fund.
3-Record the increase of the petty cash fund.
Date General Journal Debit Credit
Oct 01

Answers

Answer 1

Answer:

1. Sep 09

Dr Petty cash $410

Cr Cash $410

2. Sep 30

Dr Merchandise inventory $59

Dr Postage expense $74

Dr Miscellaneous expenses $144

Dr Cash short and over $13

Cr Cash $290

3. Oct 01

Dr Petty cash $30

Cr Cash $30

Explanation:

1-Preparation of the journal entry to establish the Petty Cash fund

Sep 09

Dr Petty cash $410

Cr Cash $410

2- Preparation of the journal entry to Record the reimbursement of the petty cash fund.

Sep 30

Dr Merchandise inventory $59

Dr Postage expense $74

Dr Miscellaneous expenses $144

Dr Cash short and over $13

Cr Cash $290

($59+$74+144+$13)

3- Preparation of the journal entry to Record the increase of the petty cash fund

Oct 01

Dr Petty cash $30

Cr Cash $30

($410-$440)


Related Questions

Presented below is information for Sunland Co. for the month of January 2022. Cost of goods sold $201,500 Rent expense $32,100 Freight-out 7,900 Sales discounts 9,000 Insurance expense 13,600 Sales returns and allowances 18,700 Salaries and wages expense 63,700 Sales revenue 393,500 Income tax expense 4,700 Other comprehensive income (net of $400 tax) 2,000 (a) Prepare an income statement using the multiple-step format.

Answers

Answer:

Sunland Co.

Income statement for the month ended January 2022.

Sales revenue                                                           393,500

Sales returns and allowances                                   (18,700)

Net Sales                                                                   374,800

Less Cost of goods sold                                          (201,500)

Gross Profit                                                                173,300

Less Operating Expenses :

Freight-out                                               7,900

Sales discounts                                       9,000

Insurance expense                                13,600

Salaries and wages expense               63,700       (94,200)

Operating Profit                                                          79,100

Less Non Operating Expenses

Income tax expense                                                  (4,700)

Net Profit for the year                                               74,400

Other comprehensive income (net of $400 tax)      2,000

Total Profit and Other Comprehensive Income      76,400

Explanation:

Multi- step Income Statement shows Income from Primary activities and Secondary activities separately as above.

how important is the value of a product for a customer

Answers

Answer:

very important

Explanation:

The value of a product is very important to the customer. If the product is good, they will buy more, and you will get more business.
If the product is bad, they won’t come back and they will most likely not buy it again. Therefore, you would get less business.

The comparative statements of Carla Vista Co. are presented here.
CARLA VISTA CO.
Income Statements
For the Years Ended December 31
2017 2016
Net sales $1,897,540 $1,757,500
Cost of goods sold 1,065,540 1,013,000
Gross profit 832,000 744,500
Selling and administrative expenses 507,000 486,000
Income from operations 325,000 258,500
Other expenses and losses
Interest expense 24,000 22,000
Income before income taxes 301,000 236,500
Income tax expense 94,000 75,000
Net income $ 207,000 $ 161,500
CARLA VISTA CO.
Balance Sheets
December 31
Assets 2017 2016
Current assets
Cash $ 60,100 $ 64,200
Debt investments (short-term) 74,000 50,000
Accounts receivable 124,800 109,800
Inventory 128,000 117,500
Total current assets 386,900 341,500
Plant assets (net) 659,000 530,300
Total assets $1,045,900 $871,800
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $ 167,000 $152,400
Income taxes payable 45,500 44,000
Total current liabilities 212,500 196,400
Bonds payable 230,000 210,000
Total liabilities 442,500 406,400
Stockholders’ equity
Common stock ($5 par) 290,000 300,000
Retained earnings 313,400 165,400
Total stockholders’ equity 603,400 465,400
Total liabilities and stockholders’ equity $1,045,900 $871,800
All sales were on account. Net cash provided by operating activities for 2017 was $251,000. Capital expenditures were $135,000, and cash dividends were $59,000.
Compute the following ratios for 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a) Earnings per share $
(b) Return on common stockholders’ equity
(c) Return on assets
(d) Current ratio
(e) Accounts receivable turnover
(f) Average collection period
(g) Inventory turnover
(h) Days in inventory
(i) Times interest earned
(j) Asset turnover
(k) Debt to assets ratio
(l) Free cash flow

Answers

Answer:

Carla Vista Co.

(a) Earnings per share = $3.57

(b) Return on common stockholders’ equity = 34.31%

(c) Return on assets = 19.79%

(d) Current ratio = 1.82

(e) Accounts receivable turnover = Net Sales/Average Receivable = 16.18 times

(f) Average collection period = 365 Days /Average Receivable Turnover ratio = 22.56 days

(g) Inventory turnover = Cost of goods sold/Average Inventory = 8.68 times

(h) Days in inventory = 42.05 days

(i) Times interest earned = 3.46 times

(j) Asset turnover = 1.81

(k) Debt to assets ratio = Total Debt/Total Assets = 42.31%

(l) Free cash flow = Cash from Operations - Capital Expenditures = $116,000

Explanation:

a) Data and Calculations:

CARLA VISTA CO.

Income Statements

For the Years Ended December 31

                                                               2017          2016

Net sales                                          $1,897,540   $1,757,500

Cost of goods sold                            1,065,540     1,013,000

Gross profit                                          832,000       744,500

Selling and administrative expenses 507,000       486,000

Income from operations                     325,000      258,500

Other expenses and losses:

Interest expense                                   24,000        22,000

Income before income taxes              301,000      236,500

Income tax expense                             94,000        75,000

Net income                                      $ 207,000    $ 161,500

CARLA VISTA CO.

Balance Sheets

December 31

Assets                                                            2017           2016

Current assets

Cash                                                           $ 60,100     $ 64,200

Debt investments (short-term)                    74,000        50,000

Accounts receivable                                   124,800      109,800

Inventory                                                     128,000       117,500

Total current assets                                  386,900      341,500

Plant assets (net)                                      659,000     530,300

Total assets                                          $1,045,900    $871,800

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable                                 $ 167,000     $152,400

Income taxes payable                               45,500        44,000

Total current liabilities                             212,500      196,400

Bonds payable                                        230,000      210,000

Total liabilities                                         442,500     406,400

Stockholders’ equity

Common stock ($5 par)                        290,000     300,000

Retained earnings                                  313,400      165,400

Total stockholders’ equity                    603,400     465,400

Total liabilities and

  stockholders’ equity                     $1,045,900    $871,800

Net cash provided by operating activities for 2017 = $251,000

Capital expenditures = $135,000,

2017 Ratios:

(a) Earnings per share = $207,000 ($ /58,000 shares) = $3.57

(b) Return on common stockholders’ equity = $207,000/$603,400 * 100 = 34.31%

(c) Return on assets = $207,000/$1,045,900 * 100 = 19.79%

(d) Current ratio = $386,900/212,500 = 1.82

Average Receivable = ($124,800 + 109,800)/2 = $117,300

(e) Accounts receivable turnover = Net Sales/Average Receivable

= $1,897,540/$117,300 = 16.18 times

(f) Average collection period = 365 Days /Average Receivable Turnover ratio. = 365/16.18 = 22.56 days

Average Inventory = ($128,000 + 117,500)/2 = $122,750

(g) Inventory turnover = Cost of goods sold/Average Inventory = $1,065,540/122,750 = 8.68 times

(h) Days in inventory = 365/8.68 = 42.05 days

(i) Times interest earned = Earnings before interest & taxes / Tax expense = $325,000/$94,000 = 3.46 times

(j) Asset turnover = Net Sales/Assets = $1,897,540/$1,045,900 = 1.81  

(k) Debt to assets ratio = Total Debt/Total Assets =  $442,500/$1,045,900 * 100 = 42.31%

(l) Free cash flow = Cash from Operations - Capital Expenditures = $251,000 - $135,000 = $116,000

On December 31, 2020, Oriole Company sold for $153000 an old machine having an original cost of $266000 and a book value of $113000. The terms of the sale were as follows: $40000 down payment $56500 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 7% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar? (The present value of an ordinary annuity of 1 at 7% for 2 years is 1.80802.)

Answers

Answer:

$102,153.13

Explanation:

Amount payable on December 31 each of the next two years = $56,500

The PV of ordinary annuity of ($1,7%,2 years) is 1.80802

The amount of the notes receivable net of the unamortized discount = Amount Payable * PV($1, 7%, 2)

= $56,500 * 1.80802

= $102,153.13

So, the amount of the notes receivable net of the unamortized discount on December 31, 2020 will be $102,153.13.

define hedge fund economics.​

Answers

Answer:

Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors

After changes to the copyright law in 1978, for how long is intellectual property protected?
A.
the lifetime of the artist plus 70 years
B.
100 years
C.
for the lifetime of the artist
D.
in perpetuity

Answers

I believe the answer is C
The answer is C. For the lifetime artist.

How are wages for a particular job determined?

by the federal Wage and Hour Department

by the amount of inflation in the economy

by the equilibrium between supply and demand for workers

by advertisements in the newspaper or online

Answers

Answer:

by the equilibrium between supply and demand for workers

Explanation:

Wages are the amount to pay workers for a particular job when employed. Therefore, determining the wages for a particular job is mostly dependent "on the equilibrium between supply and demand for workers, " and sometimes location.

This is because the higher the number of workers available, the lesser the employers would be willing to increase the wage level of employees given the fact that they can easily find another employee. However, where there is a lesser number of employees for a particular job, the employers would be willing to increase the employees' wages to entice them.

According to the labor market equilibrium, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

The term "labor market," sometimes referred to as the "job market," describes the supply and demand for labor, with employers meeting the demand and employees meeting the supply.

The supply and demand of labor, which are met by employees and employers respectively, are referred to as the labor market.Both macroeconomic and microeconomic perspectives on the labor market are important because they provide useful information on employment and the state of the economy as a whole.Two crucial macroeconomic indicators are labor productivity rates and unemployment rates.

Therefore, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

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A stadium is considering an offer from Mass Insurance to change the name to Mass Stadium. The company is offering to pay $1,000,000 per year. If the stadium already receives $250,000 from music promotions and accepts this offer, how much will it receive in sponsorship rights each year in total?

Answers

Answer:

b) 1,250,000

Explanation:

1,000,000+ 250,000 = 1,250,000

According to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.

What do you mean by the sponsorship?

The act of monetarily or by the giving of goods or services supporting an occasion, activity, person, or organization is known as sponsoring something (or someone). The sponsor is the person or entity that offers the support; it functions similarly to a benefactor.

An organization sponsors an event when it offers financial support in exchange for marketing benefits. Sponsorships may involve a financial payment in exchange for property or a barter transaction including goods or services.

A brand or affiliation with a firm is promoted in exchange for corporate financial assistance from an organization, person, or activity, which is known as sponsorship. Of sure, sponsorship can raise your brand's value.

Here,

Company pay = $ 1,000,000

Advance amount = $ 250,000

Total sponsorship = $ 1,000,000 + $ 250,000 =  $ 1,250,000

Therefore, according to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.

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Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $100 Units in beginning inventory 0 Units produced 8,800 Units sold 8,400 Units in ending inventory 400 Variable costs per unit: Direct materials $ 15 Direct labor $ 57 Variable manufacturing overhead $ 3 Variable selling and administrative expense $ 7 Fixed costs: Fixed manufacturing overhead $132,000 Fixed selling and administrative expense $ 8,500 What is the net operating income (loss) for the month under variable costing

Answers

Answer:

$10,700

Explanation:

The unit product cost = $15 + $57 + $3 = $75

Sale revenue = $100 × 8,400 = $840,000

Less :Variable cost

Variable cost of goods sold = 8,400 × $75 = $630,000

Variable selling and administrative = 8,400 × $7 = $58,800

Contribution margin = $151,200

Fixed manufacturing overhead = $132,000

Fixed selling and administrative expenses = $8,500

Net operating income = $10,700

What does O + A + C = K stand for and mean in the legal "Formula" for contracts?
please helpppp

Answers

Answer:

O Stands for offer , A stands for acceptance , C stands for consideration , K stands for contract . An offer requirement, a contract and acceptance have it’s own thing.

Explanation:

which of the following is an example of greenwashing

Answers

Answer:

An example of greenwashing is the American multinational oil and gas corporation ExxonMobil indicating they were reducing greenhouse gas emissions while they were actually increasing

Explanation:

The example of greenwashing is a food company changes its packaging to look more natural in order to sell more.

In greenwashing, company do creates a small product that is eco-friendly to draw customers into their store.

Example: A doormat company sells one product made out of recycled material. The recycled material is overpriced but still makes them look good.

Unilever is also one type of business going green with an eco friendly strategy.

Conclusively, Greenwashing is simply the use of deceptive marketing techniques to persuade consumers that an organization's products and vision are environmentally-friendly.

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The full question is below

Which of the following is an example of greenwashing

A. A large office starts a recycling campaign to cut down on waste.

B. An event company uses recycled paper products instead of plastic

products.

C. A hair product company cuts back on certain chemicals.

D. A food company changes its packaging to look more natural in order to sell more.

define moral hazard.​

Answers

Answer:

Moral hazard is type of situation in where on person or party gets involved in a very risky event when knowing that it is protected against and the person or party, which will incur the cost. This can arise when both people or parties have a incomplete information about on another or each other.

Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 35 billion bottles of wine were sold every year at a price of $7 per bottle. After the tax, 29 billion bottles of wine are sold every year; consumers pay $8 per bottle (including the tax), and producers receive $4 per bottle. The amount of the tax on a bottle of wine is $1 per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on producers.

Answers

Answer:

1. The amount of tax on a bottle of wine is $4.

2. The tax burden on consumers is $1.

3. The tax burden on producers is $3.

4. The effect on the tax on the quantity sold would have been smaller if the tax had been levied on producers.

False.

Explanation:

a) Data and Calculations:

Before the tax, the number of bottles of wine sold every year at $7 per bottle = 35 billion bottles

After the tax, the number of bottles of wine sold every year at $8 per bottle = 29 billion bottles

Therefore, there is a reduction of 6 billion bottles as a result of the increased price of $1 per bottle (from $7 to $8).

The price received by producers = $4 per bottle

Therefore, there is a total tax of $4 ($8 - $4)

Consumers bear $1 ($8 - $7)

Producers bear $3 ($7 - $4)

The effect of the tax would have still increased the price to $8 or more.  Thus, if the tax had been levied on producers, the quantity of bottles sold would have reduced drastically.

You plan to purchase a house for $180,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 10 percent of the purchase price. You will not pay off the mortgage early. Assume the homeowner will remain in the house for the full term and ignore taxes in your analysis. a. Your bank offers you the following two options for payment. Which option should you choose? b. Your bank offers you the following two options for payments. Which option should you choose?

Answers

Answer:

choose the first one

Explanation:

get the debt over faster

The management of Lanzilotta Corporation is considering a project that would require an investment of $263,000 and would last for 8 years. The annual net operating income from the project would be $99,000, which includes depreciation of $31,000. The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest

Answers

Answer: 2 years

Explanation:

Firstly, we need to calculate the annual cash inflow which will be:

= Net Operating Income + Depreciation

= $99,000 + 31,000

= $130,000

Payback period = Initial Investment / Annual cash inflow

= $263,000 / 130,000

= 2.02Years

= 2 years approximately

The payback period is 2 years.

Tyler Hawes and Piper Albright formed a partnership, investing $210,000 and $70,000, respectively. Determine their participation in the year's net income of $104,000 under each of the following independent assumptions. No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $36,000 and $45,000, respectively, and the balance divided equally. Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $45,000, respectively, and the remainder divided equally.
Hawes Albright
(a) $ $
(b) $ $
(c) $ $
(d) $ $
(e) $ $

Answers

Answer:

No agreement concerning division of net income.

Hawes = $52,000

Albright = $52,000

Divided in the ratio of original capital investment.

Hawes = (210/280) x $104,000 = $78,000

Albright = (70/280) x $104,000 = $26,000

Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.

Hawes = ($210,000 x 5%) + $36,000 = $46,500

Albright = ($70,000 x 5%) + $54,000 = $57,500

Salary allowances of $36,000 and $45,000, respectively, and the balance divided equally.

Hawes = $36,000 + $11,500 = $47,500

Albright = $45,000 + $11,500 = $56,500

Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $45,000, respectively, and the remainder divided equally.

Hawes = ($210,000 x 5%) + $36,000 + $4,500 = $51,000

Albright = ($70,000 x 5%) + $45,000 + $4,500 = $53,000

N Force, a U.S. car manufacturing company, has expanded its business operations to China. Unlike their U.S. colleagues, many Chinese employees are reluctant to address senior colleagues by their first names because Chinese culture emphasizes respect for elders. To create an organizational culture that is common for all its employees, management at N Force headquarters has decided to assign titles to the senior staff. Which of the following methods would be best suited in China's top-down hierarchical culture to spread the message of the new organizational culture?
a. Assigning a team of junior staff to conduct a presentation on a list of code names for senior employees
b. Requesting employees to spread the message to peers
c. Requesting leaders to impart the message to employees
d. Creating a video starring junior staff to create awareness about the new organizational culture

Answers

Answer:

c. Requesting leaders to impart the message to employees

Explanation:

As the culture of an organization that suits to china in terms of elders here the best way to pass the message i.e. from the leaders to the employees

The option c would represent the same and considered to be best suited in China with respect to the top-down hierarchical culture so that the message could be spreaded

The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the company’s financial condition and performance.
Cold Goose Metal Works Inc. is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete. Use the information given to complete the balance sheet.
Cold Goose Metal Works Inc. Balance Sheet for Year Ending December 31 (Millions of Dollars)
Year 2 Year 1 Year 2 Year 1
Assets Liabilities and equity
Current assets: Current liabilities:
Cash and equivalents $4,612 Accounts payable $0 $0
Accounts receivable 2,109 1,688 Accruals 293 0
Inventories 6,187 4,950 Notes payable 1,660 1,562
Total current assets $14,062 $11,250 Total current liabilities $1,562
Net fixed assets: Long-term debt 5,859 4,688
Net plant and equipment $13,750 Total debt $7,812 $6,250
Common equity:
Common stock 15,235 12,188
Retained earnings 6,562
Total common equity $23,438 $18,750
Total assets $31,250 $25,000
Total liabilities and equity $31,250 $25,000
Given the information in the preceding balance sheet—and assuming that Cold Goose Metal Works Inc. has 50 million shares of common stock outstanding—read each of the following statements, then identify the selection that best interprets the information conveyed by the balance sheet.
Statement #1: Cold Goose’s pool of relatively liquid assets, which are available to support the company’s current and future sales, decreased from Year 1 to Year 2.
This statement is , because:
Cold Goose’s total current liabilities balance decreased by $2,812 million between Year 1 and Year 2
Cold Goose’s total current asset balance actually increased from $11,250 million to $14,062 million between Year 1 and Year 2
Cold Goose’s total current liabilities balance increased from $1,688 million to $2,109 million between Year 1 and Year 2
Statement #2: In Year 2, Cold Goose Metal Works Inc. was profitable.
This statement is , because:
The cash and equivalents account increased between Years 1 and 2
Cold Goose’s retained earnings account increased between the end of Years 1 and 2
Cold Goose’s total assets increased between Years 1 and 2

Answers

Answer:

A. Total assets $31,250 $25,000

Total abilities and equity $31,250 $25,000

B. Statement 1 is FALSE

Statement 2 is TRUE

Explanation:

A . Using the information given to complete the balance sheet

Cold Goose Metal Works Inc Balance Sheet For Year Ending December 31 (Millions of Dollars)

Year 1 Year 2

ASSETS

Current assets:

Cash and equivalents

$5,766 $4,612

(14,062 – 6,187-2,109 = $5766)

Accounts receivable

2,109 1,688

Inventories

6,187 4,950

Total current assets

$14,062 $11,250

Net fixed assets:

Net plant and equipment

$17,188 $13750

( 31,250-14,062 = $17,188)

Total assets $31,250 $25,000

LIABILITIES AND EQUITY

Current liabilities:

Accounts payable

$0 $0

Accruals

293 0

Notes payable

1,660 1,562

Total current abilities

$1,953 $1,562

(0+293+1,660 = $1,953)

Long-term debt

5,859 4,688

Total debt

$7,812 $6,250

Common equity

Common stock

15,235 12,188

Retained earnings

$8,203 6,562

(23,438-15,235 = $8,203)

Total abilities and equity $31,250 $25,000

Net Plant and Equipment= 31250-14062

Net Plant and Equipment = $17188

Cash and Equivalents = 14062 – 6187-2109

Cash and Equivalents= $5766

Total Current liabilities = 0+293+1660

Total Current liabilities = $1953

Retained earnings = 23438-15235

Retained earnings= $8203

B. To identify the selection that best interprets the information conveyed by the balance sheet.

Based on the information given STATEMENT 1 is FALSE reason been that Cold Goose’s total current asset balance increased from the amount of $11,250 million to the amount of $14,062 million between Year 1 and Year 2.

Based on the information given STATEMENT 2 is TRUE reason been that their was increased in retained earnings account between the end of Years 1 and year 2.

Clearsound uses Alpha Electronics and La Paz Company to buy two electronic components used in the manufacture of its cell phones: Component 125X and Component 30Y. Consider two activities: testing components and reordering components. After the two components are inserted, testing is done to ensure that the two components in the phones are working properly. Reordering occurs because one or both of the components have failed the test and it is necessary to replenish component inventories. Activity cost information and other data needed for supplier costing are as follows:
I. Activity Costs Caused by Suppliers (testing failures and reordering as a result)
Activity Costs
Testing components $1,200,000
Reordering components 300,000
II. Supplier Data
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit purchase price $10 $26 $12 $28
Units purchased 120,000 84,400 15,000 15,000
Failed tests 1,500 780 10 10
Number of reorders 60 40 0 0
Required:
Determine the cost of each supplier by using ABC. Round Test and Reorder rates to the nearest dollar, and final answers to the nearest cent.
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit cost: $ $ $ $

Answers

Answer:

Clearsound

The cost of each supplier, using ABC:

                                  Alpha Electronics           La Paz Companyl

                                  125X              30Y           125X             30Y

Unit cost                   $18.02         $32.24       $12.35      $28.35

Explanation:

a) Data and Calculations:

Activity Costs

Testing components     $1,200,000

Reordering components $300,000

Total costs =                  $1,500,000

II. Supplier Data

                                  Alpha Electronics           La Paz Company    Total

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Failed tests               1,500            780            10            10        2,300

Number of reorders     60              40             0             0            100

Activity Rates:

Failed tests $1,200,000/2,300 = $521.74

Reordering $300,000/100 = $3,000

                                  Alpha Electronics           La Paz Companyl

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Testing components   782,610      406,957         5,217           5,217

Reordering                  180,000      120,000

Total costs              $2,162,610 $2,721,357    $185,217   $425,217

Unit cost                     $18.02         $32.24       $12.35      $28.35

what happens if a business doesn't meet target profit

Answers

Answer:

If revenues are less than total cost, a company does not reach the break even point, which results in a less. A company that fails to make enough sales to meet the break even point accumulates debt over time, which can eventually cause a company to go out of business .

Explanation:

I hope it is the right answer you were looking for.

g Kally goes to the grocery store each week looking to purchase items that will give her as much utility as possible, given her $100 budget. Last week apples were priced at $4.50 each, and Kally purchased 3 apples. This week apples are on sale for $2.50 each, while all other prices have remained the same, and Kally chooses to purchase 7 apples. Given this information, plot Kally's demand curve for apples.

Answers

Answer:

Please check the attached image for the graph

Explanation:

The demand curve is a curve that shows the various quantities of a good that is purchased at different prices.

The demand curve is downward sloping due to the inverse relationship between price and quantity demanded. The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is known as the law of demand.

It can be seen that the quantity demanded of apples increased from 3 to 7 when price reduced to $2.50

On the demand curve, price is on the vertical axis, while quantity demanded is on the horizontal axis

Many employment contracts have mandatory arbitration clauses.


False

True

Answers

This answer is True

On Dec 31, an entity had a reporting unit that had a book value of $3,450,000, including goodwill of $225,000. As part of its annual review of good will impairment, the entity determined that the fair value of the reporting unit was $3,310,000. The entity assigned $3,170,000 of the reporting units fair value to its assets and liabilities other than goodwill. What is the goodwill impairment loss to be reported on Dec 31 under current US GAAP

Answers

Answer:

$85,000

Explanation:

Calculation for the goodwill impairment loss to be reported on Dec 31 under current US GAAP

First step is to calculate the Goodwill implied fair value

Goodwill implied fair value=($3,310,000-$3,170,000)

Goodwill implied fair value=$140,000

Now let calculate the Impairment loss using this formula

Impairment loss = Goodwill implied fair value - Goodwill book value

Let plug in the formula

Impairment loss= $140,000 - $225,000

Impairment loss = $85,000

Therefore the goodwill impairment loss to be reported on Dec 31 under current US GAAP is $85,000

Sunland, Inc. had pre-tax accounting income of $2100000 and a tax
rate of 40% in 2018, its first year of operations. During 2018 the company had the following transactions:

Received rent from Jane, Co. for 2019 $90000
Municipal bond income $114000
Depreciation for tax purposes in excess of book depreciation $54000
Installment sales profit to be taxed in 2019 $156000
At the end of 2018, which of the following deferred tax accounts and balances exist at December 31, 2018?
a. Deferred tax asset $57600
b. Deferred tax asset $36000
c. Deferred tax liability $57600
d. Deferred tax liability $36000

Answers

Answer:

b. Deferred tax asset $36000

Explanation:

The computation of the deferred tax is shown below:

= Rent received from Jane for the year 2019 × tax rate in 2018

= $90,000 × 40%

= $36,000

Here the rent received on 2019 but the tax should be paid on 2018 so this represent the deferred tax asset

Therefore the option b is correct

Suppose recent regulatory reforms relating to credit rating agencies are perceived to improve the reliability and accuracy of credit ratings of corporate bonds. Imagine further that you manage a corporation interested in issuing new bonds, in addition to past issues by the firm that already trade in the market. Identify one way in which your firm might lose and one way in which it might gain from these regulatory reforms. Explain.

Answers

Answer:

If the new reforms bring increase confidence of the investors then the company will have to incur lower borrowing costs as the investor will be available and vice versa.

Explanation:

Suppose that previously our company's credit rating was overrated. Due to recent regulatory reforms, my company achieved a lower credit rating and hence the investor confidence in our company dropped significantly. Now the investor is not interested to invest in my company and to urge them to invest in the company, they will be offered higher interest. If the reforms are going to impact our credit rating adversely then the borrowing cost will increase and vice versa.

Furthermore, Core Principle 3 says that the decsion making of the investor is based on the information that is readily available to him. This means if the reforms increase the access of the borrower through improved credit rating then it will be favourable for the company in terms of lower borrowing costs. If the reforms decrease the access of the borrower through depreciating credit rating then it will adversely affect the company in terms of lower borrowing costs and lower investment access.

CAN SOMEONE PLEASE ACTUALLY HELP AND NOT USE THIS JUST FOR POINTS. I REALLY NEED THE HELP.

What are ?

Business Description

Marketing Strategies

Competitive Analysis

Marketing Plan

Operations and Management Plan

Financial Plan

Answers

The business description is basically describing what the business is for like what is the purpose of the business or what the business is doing.

Marketing strategies is basically the methods used by a business to promote their products such as public relations advertisement etc.

The marketing plan is basically a strategy that is set by the business to attract customers.

Operations and management plan is basically listing the organizational structure in the business and the activity those individuals will carry out.

The financial plan of a business is basically a financial strategy to determine how much money/monetary capital is required for the daily operations of the business.

Define scale of preference and difine economics ​

Answers

Answer:

scale of preference is the only tool in economics that can determine the real demand for certain goods.

Alpaca Corporation had revenues of $200,000 in its first year of operations. They have not collected on $20,000 of their sales, and still owe $25,000 on $70,000 of merchandise they purchased. The company had no inventory on hand at the end of the year. The company paid $15,000 in salaries. Owners invested $20,000 in the business and $20,000 was borrowed on a five-year note. The company paid $2,000 in interest that was the amount owed for the year, and paid $6,000 for a two-year insurance policy on the first day of business. Alpaca has an effective income tax rate of 40%.
Compute the cash balance at the end of the first year for Alpaca Corporation.

Answers

Answer:

Closing balance $110000

Explanation:

The computation of the cash balance at the end of the first year is shown below:

Funds raised from owners $20000

Less: Funds borrowed $20,000

Collection from debtors $180,000 ($200,000 - $20,000 )

Less: Payment for merchandise $45000

Salaries paid $15000

Interest paid $2000

Insurance policy paid $6000

Income tax  at 40% $42000

Closing balance $110000

Working note:

Calculation of tax paid

Sales 200000

Less: purchases 75000

salary 15000

interest 2000

insurance(50% of 6000) 3000

Income 105000

Tax at 40% 42000

Suppose the town of Boone has a total population of 70,000 people. Of those, 65,000 people are employed. There are 1,000 full-time students who are not employed or actively seeking work. The rest of the people are out of work but have been actively seeking work within the past four weeks.
Instructions: In part a, round your answer to 1 decimal place. In part b, enter your answer as a whole number.
a. What is Boone’s unemployment rate?
percent
b. Suppose there are 1,000 people who are unemployed as a result of frictional unemployment and 2,000 people who are unemployed as a result of cyclical unemployment. How many people are unemployed as a result of structural unemployment?

Answers

Answer:

A. 5.8%

B. 1,000

Explanation:

Calculation for Boone’s unemployment rate

Unemployment rate=[(70,000-1,000)-65,000]/(70,000-1,000)*100

Unemployment rate=(69,000-65,000)/69,000*100

Unemployment rate=4,000/69,000*100

Unemployment rate=5.8%

Therefore Boone’s unemployment rate will be 5.8%

B. Calculation for How many people are unemployed as a result of structural unemployment

Unemployed people=[(70,000-1,000)-65,000]-1,000-2,000

Unemployed people= 4,000 - 1,000 - 2,000

Unemployed people=1,000

Therefore the numbers of people that are are unemployed as a result of structural unemployment will be 1,000

Precision Company estimates its machine-hour requirements for the four quarters to be 35,000 hours, 20,000 hours, 15,000 hours, and 30,000 hours respectively. The variable manufacturing overhead rate is $4 per machine-hour. The fixed manufacturing overhead is $50,000 per quarter, which includes $20,000 of depreciation expense. Knowledge Check 01 What is the budgeted variable manufacturing overhead for the year

Answers

Answer:

Total estimated overhead costs for the period= $400,000

Explanation:

Giving the following information:

Total machine-hours= 35,000 + 20,000 + 15,000 + 30,000

Total machine-hours= 100,000

Predetermined variable overhead rate= $4 per machine hour

To calculate the estimated variable overhead for the period, we need to use the following formula:

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

4 =  total estimated overhead costs for the period / 100,000

total estimated overhead costs for the period= 100,000*4

total estimated overhead costs for the period= $400,000

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