Answer:
See below.
Explanation:
Contribution margin income statement is as follows,
Sales (4,550*305) 1,387,750
Less: Variable costs
Plastic for casting 127,400
Wages 423,150
Drum Stand 168,350
Variable selling 118,300
Contribution 550,550
Less: Fixed costs
Taxes on factory 9,500
Maintenance 19,000
Depreciation 79,000
Lease of equipment 19,000
Accounting staff 69,000
Admin staff 149,000
Profit before tax 206,050
Tax @ 40% 82,420
Profit after tax 123,630
Contribution margin per unit can be calculated as,
Contribution margin / unit = Total contribution / Number of units
Contribution Margin / unit = 550,550 / 4550 = $121/unit
Contribution margin % = 121/305 = 39.6%
Hope hat helps.
Sully Company provided the following information for last month. Production in units 3,000 Direct materials cost $7,000 Direct labor cost $10,000 Overhead cost $9,600 Sales commission per unit sold $4 Price per unit sold $29 Fixed selling and administrative expense $7,000 There were no beginning and ending inventories. What is gross margin for Sully Company last month? a.$54,000 b.$47,400 c.$32,400 d.$60,400 e.$64,600
Answer:
d.$60,400
Explanation:
The computation of the gross margin is shown below:
= Sales - Direct materials cost - Direct labor cost - Overhead cost
where,
Sales = 3,000 units × $29 = $87,000
And all the other items would remain the same
Now put these values to the above formula
So, the value would equal to
= $87,000 - $7,000 - $10,000 - $9,600
= $60,400
What would operational testers use to determine whether a system meets operational performance parameters?
Answer:
Measures of Effectiveness
Explanation:
The Measures of Effectiveness (MOE) are measures specifically created to assess system operational environment, behaviour and capability as they relate to the achievement or attainment of the system's objectives, goals and tasks. MOE actually measures the probability that a system will perform as required and perform as expected.
FOr MOE to be effective as an operational tester, the following characteristics must be available; testable, complete, simple, quantitatively measurable and easily measurable.
Therefore in order to determine whether a system meets its operational performance parameters Measures of Effectiveness must be employed.
Dee's suggestion that the company needed more control over the way its products were displayed, priced, and promoted prompted a lot of discussion. Mark suggested that the company should manage these marketing functions for its products at the retail outlets.Mark appears to be suggesting that Lite Bite use a(n):
A. corporate distribution system.
B. franchise arrangement.
C. manufacturer-sponsored marketing chain.
D.administered distribution system.
Answer:
D.administered distribution system.
Explanation:
Administered Distribution System is a system in which producer manages all the marketing functions at the retail outlets.
Last year, Sinclair Company’s single product had a selling price of $25 per unit, reported a profit of $20,000, had a contribution margin ratio of 40% and incurred variable costs totaling $180,000. Because of competition, Sinclair Company will be forced in the current year to reduce its selling price by $2.00 per unit. Ignore income taxes. How many units must be sold in the current year to earn the same profit as was earned last year?
Answer:
15,000 units
Explanation:
In this question we use the formula of break-even point in unit sales which is shown below:
= (Fixed expenses + target profit) ÷ (Contribution margin per unit)
where,
Contribution margin per unit = Selling price per unit - Variable expense per unit
The selling price is $25 - $2 = $23
And, the variable expense per unit would be = $25 × 60% = $15
So, it would be $23 - $15 = $8
We know that
Operating profit = Sales - variable cost - fixed cost
$20,000 = $300,000 - $180,000 - fixed cost
So, the fixed cost would be
= $100,000
And, the sales would be
= Variable cost × 100 ÷ variable cost ratio
= $180,000 × 100 ÷ 60
= $300,000
And, the other items values would remain the same
Now put these values to the above formula
So, the value would equal to
= ($100,000 + $20,000) ÷ ($8)
= ($120,000) ÷ ($8)
= 15,000 units
A corporation has a NLTG of $40,000 and a NSTL of $10,000 in the current year. It had capital gains/(losses) as follows
YEAR 3 $20,000
YEAR 2 (35,000)
YEAR 1 10,000
HOW MUCH MUST THE CORPORATION ADD TO ITS OTHER INCOME DUE TO CAPITAL GAINS TO DETERMINE TAXABLE INCOME IN THE CURRENT YEAR
A. 5000
B. 25000
C. 30000
D. 35,000
Answer:
C. 30000
Explanation:
net capital gain
= net long term capital gain in current year - net short term loss in current year
= $40,000 - $10,000
= $30,000
Therefore, THE CORPORATION ADD $30,000 TO ITS OTHER INCOME DUE TO CAPITAL GAINS TO DETERMINE TAXABLE INCOME IN THE CURRENT YEAR.
sle Co. owned a copy machine that cost $5,000 and had accumulated depreciation of $2,000. Isle exchanged the copy machine for a computer that cost $4,000. Isle's future cash flows are not expected to change significantly as a result of the exchange. What amount of gain or loss should Isle report and at what amount should it record the asset?
Answer:
In the income statement, there is no loss or gain and assets worth $3,000 is recorded in the balance sheet.
Explanation:
Exchange of non- monetary assets which is not expected to change the cash flows of the entity significantly lacks the commercial substance.
The accounting for exchange is grounded on the carrying amount of the assets given up, unless the boot is received so there is no gain recognized.
The asset named computer is recognized at the amount of carrying value of the copy machine amounts to $3,000.
Working Note:
Asset value = Cost of machine - Accumulated Depreciation
= $5,000 - $2,000
= $3,000
Riverside Manufacturing designs and manufactures bathtubs for home and commercial applications. Riverside recorded the following data for its commercial bathtub production line during the month of March:
Standard DL hours per tub 5
Standard variable overhead rate per DL hour $ 6.00
Standard variable overhead cost per unit $ 30.00
Actual variable overhead costs $ 16,400
Actual DL hours 2,050
Actual variable overhead cost per machine hour $ 8.00
Actual tubs produced 1,500
1. What is the variable manufacturing overhead efficiency variance in March?
Answer:
$32,700 Favorable
Explanation:
Variable Manufacturing overhead efficiency variance can be computed as follows,
VMOH Variance = Standard Overhead rate * (Actual Hours - Standard Hours)
VMOH Variance = 6.0 * (2050 - (1500 * 5))
Variance = $32,700 Favorable
This a favorable variance as budgeted per tub direct labor hours are more than they actually were at production level of 1500 tubs.
Hope that helps.
Is the proportion of men who write a shopping list before going shopping less than the proportion of women who do so? Let p1 and p2 represent the population proportions of men and women, respectively, who use shopping lists. Suppose a random sample of 50 men and 50 women was asked if they use a shopping list when they have more than ten items to buy. Of the 50 men, 20 said yes and of the 50 women 30 said yes.
Answer:
The proportion of women that make the list is higher than the proportion of men.
Explanation:
Giving the following information:
Let p1 and p2 represent the population proportions of men and women, respectively, who use shopping lists. Suppose a random sample of 50 men and 50 women was asked if they use a shopping list when they have more than ten items to buy. Of the 50 men, 20 said yes and of the 50 women 30 said yes.
We need to calculate the proportions of each gender that said 'yes':
p1= 20/50= 0.4
p2= 30/50= 0.6
The proportion of women that make the list is higher than the proportion of men.
You are interested in purchasing a new car and have done some research. One of the many points you wish to consider is the resale value of the car after 5 years. You wish to estimate the resale value of the one that piques your interest with a 99% confidence interval. In your research, you obtain data on 17 recently resold 5-year-old sedans of the same model you wish to purchase. These 17 cars were resold at an average price of $12,500 with a standard deviation of $700. What is the 99% CI for the true mean resale value?
Answer:
The 99% confidence interval would be given by (12004.26;12995.74)
Explanation:
1) Previous concepts
A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".
The margin of error is the range of values below and above the sample statistic in a confidence interval.
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
[tex]\bar X=12500[/tex] represent the sample mean for the sample
[tex]\mu[/tex] population mean (variable of interest)
s=700 represent the sample standard deviation
n=17 represent the sample size
2) Confidence interval
The confidence interval for the mean is given by the following formula:
[tex]\bar X \pm t_{\alpha/2}\frac{s}{\sqrt{n}}[/tex] (1)
In order to calculate the critical value [tex]t_{\alpha/2}[/tex] we need to find first the degrees of freedom, given by:
[tex]df=n-1=17-1=16[/tex]
Since the Confidence is 0.99 or 99%, the value of [tex]\alpha=0.01[/tex] and [tex]\alpha/2 =0.005[/tex], and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-T.INV(0.005,16)".And we see that [tex]t_{\alpha/2}=2.92[/tex]
Now we have everything in order to replace into formula (1):
[tex]12500-2.92\frac{700}{\sqrt{17}}=12004.26[/tex]
[tex]12500+2.92\frac{700}{\sqrt{17}}=12995.74[/tex]
So on this case the 99% confidence interval would be given by (12004.26;12995.74)
A decrease in the supply of dollars on the foreign exchange market, all else equal, will result in:
a. appreciation of the U.S. dollar and depreciation of the foreign currency.
b. appreciation of the U.S. dollar and appreciation of the foreign currency.
c. depreciation of the U.S. dollar and depreciation of the foreign currency.
d. depreciation of the U.S. dollar and appreciation of the foreign currency.
Answer:
a. appreciation of the U.S. dollar and depreciation of the foreign currency.
Explanation:
When the supply of us dollars fall, demand for US dollars would be greeter than the supply, the value of the US dollar would rise.
I hope my answer helps you
Answer:
OwO its a?
Explanation:
All of the following are considered input barriers to entry except:(A) control of a key raw material by a single firm.(B) the ability to obtain financing for capital projects at more favorable rates than potential competitors.(C) the fact that workers in a particular industry belong to a union.(D) a patent on a specialized type of capital that is needed to produce a particular product
Answer:
(C) the fact that workers in a particular industry belong to a union.
Explanation:
All other options are considered as possible entry barriers because they may put hindrance for an entrepreneur to enter the field of producers . The fact that workers of a particular industry belong to a union because role of union comes only when industry starts functioning . It can not play any role at the start of an industry.
1) Why might investors prefer floating rate notes over a fixed rate bond?
2) Why might Hologen prefer to issue fixed rate bonds rather than floating rate notes?
Answer:
These questions are incomplete since the article relating to Hologen company is not attached. However, I would answer them this way.
Explanation:
1) A floating rate bond has a shorter duration; almost zero and it has lower sensitivity to interest rates compared to a fixed rate bond.This means that the former has a lower interest rate risk. Investors tend to demand floating rate bonds when they expect future interest rates to rise because their prices would be close to their par values as their interest rates would also increase. On the other hand, fixed bond's interest rates are inversely related to their prices.
2)
For an issuing company, borrowing money floating rates terms could be riskier for cashflow management purposes . Every time interest rates increases, it means that the company would pay higher interests to lenders which could hurt its profitability. The fluctuations could also negatively affect future financial planning unlike issuing fixed rate bonds whose coupon payments are constant hence decreasing the volatility of earnings.
Courtnie has been allergic to cats as long as she can remember; this requires her doctor to give her an allergy shot. On her 26th birthday she spends the day in a house with cats and has no reaction. Therefore the allergy shot has helped Courtnie overcome her reaction to cats. The explanation for why she had no reaction describes which of the following?
Answer:
The correct answer is: causal relation.
Explanation:
Causal relation describes the correlation between two events. It explains that the second event occurs as a result of the first one, though, sometimes the second event might not be the cause of the first one. The first event takes the name of the cause and the second event is called the effect.
Blossom Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 167,000 miles. Taxi 10 cost $33,600 and is expected to have a salvage value of $200. Taxi 10 was driven 32,000 miles in 2021 and 32,700 miles in 2022. Determine the depreciation cost. (Round answer to 2 decimal places, e.g. 1.25.) Depreciable cost $enter the depreciation per unit rounded to two decimal places in dollars per unit eTextbook and Media Compute the depreciation for each year. 2021 2022 Depreciation expense $enter the depreciation for 2021 rounded to 0 decimal places in dollars $enter the depreciation for 2022 rounded to 0 decimal places in dollars eTextbook and Media
Answer:
$0.20 per miles, $6,400, $6,540
Explanation:
The calculation of the depreciation per unit and its expense method is presented below:
= (Original cost - residual value) ÷ (estimate driven miles)
= ($33,600 - $200) ÷ (167,000 miles)
= ($33,400) ÷ (167,000 miles)
= $0.20 per miles
Now for the 2021 year, it would be
= Miles driven in 2021 year × depreciation per miles
= 32,000 miles × $0.20
= $6,400
And, in 2022, it would be
= Miles driven in 2022 year × depreciation per miles
= 32,700 miles × $0.20
= $6,540
Lusk Corporation produces and sells 14,000 units of Product X each month. The selling price of Product X is $22 per unit, and variable expenses are $16 per unit. A study has been made concerning whether Product X should be discontinued. The study shows that $73,000 of the $103,000 in fixed expenses charged to Product X would not be avoidable even if the product was discontinued. If Product X is discontinued, the company’s overall net operating income would: decrease by $49,000 per month increase by $49,000 per month decrease by $54,000 per month increase by $19,000 per month
Answer:
decrease by $54,000 per month
Explanation:
The impact on the net operating income would be shown below:
In the first case,
Sales ( $22 × 14,000 units) = $308,000
Variable expenses ($16 × 14,000 units) = - $224,000
Fixed expenses = - $103,000
Net loss = - $19,000
And, the fixed cost continued is $73,000
So, the net income decreased by
= $73,000 - $19,000
= $54,000
if the product X is discontinued
Final answer:
Discontinuing Product X would result in a loss of $84,000 contribution margin, which is not entirely offset by the $30,000 reduction in fixed expenses. Therefore, the net operating income would decrease by $54,000 per month if Product X is discontinued.
Explanation:
To determine whether discontinuing Product X would increase or decrease the company's overall net operating income, we need to analyze the impact on contribution margin and fixed expenses. The current contribution margin per unit can be calculated by subtracting the variable expense from the selling price, so for Product X, which sells for $22 and has a variable expense of $16, the contribution margin per unit is $6.
The total contribution margin for all 14,000 units is 14,000 units × $6 = $84,000 monthly. If Product X is discontinued, the company will not only lose this contribution margin but will also continue to incur $73,000 of the $103,000 in fixed expenses. The net effect is a decrease in net operating income by:
Loss of contribution margin ($84,000) - Avoidable fixed expenses ($30,000) = Decrease in net operating income by $54,000 per month.
Therefore, if Product X is discontinued, the company’s overall net operating income would decrease by $54,000 per month.
The average credit card debt for college seniors is $16,601 with a standard deviation of $4100. What is the probability that a sample of 35 seniors owes a mean of more than $18,000? Round answer to 4 decimal places.
Answer:
0.0218
Explanation:
Data provided in the question:
Average credit card debt, µ = $16,601
Standard deviation, σ = $4,100
Sample size, n = 35
To find : P ( X > 18000 )
Now,
P ( X > $18,000 ) = 1 - P ( X < $18,000 )
For Standardizing the value, we have
Z = [ X - µ ] ÷ [ σ ÷ √n ]
Z = [ $18,000 - $16,601 ] ÷ [ $4,100 ÷ √35 ]
or
Z = 2.02
Thus,
P ( [ X - µ ] ÷ [ σ ÷ √n ] > [ $18,000 - $16,601 ] ÷ [ 4100 ÷ √35 ]
or
P ( Z > 2.02 )
or
P ( X > 18000 ) = 1 - P ( Z < 2.02 )
[ from standard Z-value table P ( Z < 2.02 ) = 0.9782 ]
therefore,
P ( X > 18000 ) = 1 - 0.9782
or
P ( X > 18000 ) = 0.0218
The Megabux National Bank currently has deposits of $200 million. If the Fed establishes a reserve requirement of 12 percent, Megabux National must hold reserves of _______ against its deposits.A. $12 million B. $24 million C. $176 million D. $200 million
Answer:
Option (B) is correct.
Explanation:
Given that,
Megabux National Bank currently has deposits = $200 million
Fed establishes a reserve requirement = 12 percent
Therefore,
Reserves must be hold by the Megabux national bank against its deposits:
= Amount of Deposits × Required reserve ratio
= $200 million × 12 percent
= $200 million × 0.12
= $24 million
Sarbanes-Oxley Act (SOX) Section 404 requires an organization's executive officers to establish, maintain, review, and report on the effectiveness of the company's internal controls over financial reporting (ICFR). a. Trueb. False
Answer: A. True
Explanation:
Sarbanes-Oxley Act was passed by congress in order to safeguard the interest of investors from the fraudulent activities that are used in manipulation of the financial statements.
Before purchasing a used car, Jim Myers checked www.kbb to learn what he should offer for the used car he wanted to buy. Then he conducted a carfax search on the car he found to see if the car had ever been in an accident. The Carfax was clean so he purchased the used car for $15,100. She put $2,700 down and financed the rest with a 36-month, 7.5% loan.What is her monthly car payment by formula?
To calculate the monthly car payment, use the formula: Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1+Monthly interest rate)^(-Number of months)). Using this formula, Jim Myers' monthly car payment is approximately $372.78.
Explanation:To calculate the monthly car payment, we can use the formula:
Monthly payment = (Loan amount * Monthly interest rate) / (1 - (1+Monthly interest rate)^(-Number of months))
In this case, Jim Myers financed $15,100 with a 36-month, 7.5% loan. Using the formula, we can calculate the monthly car payment as follows:
Loan amount = $15,100 - $2,700 (Down payment) = $12,400
Monthly interest rate = 7.5% / 12 = 0.00625
Number of months = 36
Substituting these values into the formula, we get:
Monthly payment = ($12,400 * 0.00625) / (1 - (1+0.00625)^(-36))
By evaluating this expression, we find that her monthly car payment is approximately $372.78.
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The correct monthly car payment for Jim Myers is $405.37.
To calculate the monthly car payment, we can use the formula for an installment loan, which is given by:
[tex]\[ P = \frac{rPV}{1 - (1 + r)^{-n}} \][/tex]
First, we need to convert the annual interest rate to a monthly interest rate.
The annual interest rate is 7.5%, which we can express as a decimal by dividing by 100, giving us 0.075.
To find the monthly interest rate, we divide this by 12 (since there are 12 months in a year):
[tex]\[ r = \frac{0.075}{12} = 0.00625 \][/tex]
Next, we determine the amount financed, which is the purchase price minus the down payment:
[tex]\[ PV = \$15,100 - \$2,700 = \$12,400 \][/tex]
The total number of payments is the loan term in months:
n = 36
Now we can plug these values into the loan formula:
[tex]\[ P = \frac{0.00625 \times \$12,400}{1 - (1 + 0.00625)^{-36}} \][/tex]
[tex]\[ P = \frac{\$77.50}{1 - 0.7164} \][/tex]
[tex]\[ P \approx \$405.37 \][/tex]
Therefore, Jim Myers' monthly car payment is approximately $405.37.
Fulbright Corp. uses the periodic inventory system. During its first year of operation, Fulbright made the following purchases (listed in chronological order of acquisition): • 40 units at $100 • 70 units at $80 • 170 units at $60 Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year. What is the ending inventory using the LIFO method?
Answer:
$1000
Explanation:
Under the LIFO method, the sales units was 270 units out of which 170 units at $60 is used, 70 units at $80 is used and the remaining 30 units is used at $100
The remaining units i.e 10 units is left which is an ending inventory at$100 i.e $1000
The ending inventory units would be
= Sales units - Available units
= 270 units - 260 units
= 10 units
Which of the following is a fixed cost?
a. payments to a electric utility
b. cost of raw materials
c. wages to hire assembly line workers
d. payment to hire a security worker to guard the gate to the factory around the clock
Answer:
The answer is d. payment to hire a security worker to guard the gate to the factory around the clock.
Explanation:
Let re-visit to the concept of Fixed cost before applying to the questions.
Fixed costs are costs which are unchanged given changes in production level.
a. payment to a electric utility is not fixed cost because higher level of production required higher electricity consumption which leads to higher cost of electricity.
b. cost of raw material is not fixed cost because the higher the production level, the higher the raw material required for production.
c. wages to hire assembly line workers is not fixed cost because the higher the production level, the more workers required and the higher the wages will be.
d. payment to hire a security worker to guard the gate to the factory around the clock is fixed cost because regardless of the production level, the security worker will work for the same amount of time and receive the same level of payment as his workload is much likely to remain the same.
So, d is the correct choice.
"Other things equal, when the price of a good rises, the quantity supplied of the good alsorises, and when the price falls, the quantity supplied falls as well." This relationship betweenprice and quantity supplied
a.is referred to as the law of supply.
b.applies only to a few goods in the economy.
c.is represented by a downward-sloping supply curve.
d.All of the above are correct.
Answer:
the correct answer is a.is referred to as the law of supply.
University Book Store buys women's polo T-shirts from a supplier, which is $16 per unit. The store sells 50,000 T-shirts per year. The annual carrying cost of T-shirts is 25% of its purchasing price, and the ordering cost is $40. If the book store operates for 250 days each year, and delivery of an order takes 2 working days. How low can the inventory get before the book store places an order? Group of answer choices 500 250 400 200
Answer:
It is 400 units
Explanation:
Re-order level= Maximum usage x Maximum lead time
Maximum usage per day = 50,000/250
= 200 units per day
Maximum lead time (as given) = 2 days
Hence, Re-order level =200* 2
=400 units
When inventories reach this level, it is important that an order should be placed to replenish inventories. The reorder level is determined by consideration maximum usage per day and maximum lead time
Maximum lead time is the is the time between placing an order with a supplier, and the inventory becoming available.
Note
In case it is required to find order size that would minimize the total cost ?
Answer
The order size that would minimize total cost is called Economic Order Quantity (EOQ)
EOQ = √(2*Co*D)/Ch
Where Co =Ordering cost per order =$40
Ch= Holding cost per unit= 25%*$16=$4
D= Annual Demand = 50,000 units
EOQ = √(2*40*50,000)/4
= 1000 units
The University Book Store should order new stock when the inventory level drops to 400 T-shirts. This calculation is based on the daily demand and the lead time for delivery.
Explanation:The student's question pertains to Order Point calculation in inventory management. The order point (also known as reorder point) signifies when new inventory should be ordered to avoid running out of stock. It takes into account the delivery lead time and the number of items required daily.
From the information provided, we know that the University Book Store operates for 250 days annually, and the delivery lead time for an order is 2 days. Therefore, the lead time demand or the number of items required during the lead time would be the daily demand multiplied by the lead time. The University Book Store sells 50,000 T-shirts per year, so the daily demand would be 50,000 / 250 = 200 T-shirts. Hence, during a lead time of 2 days, the expected demand would be 200 × 2 = 400 T-shirts. Thus, the inventory should reach this level before the University bookstore places a new order.
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The costs of a market activity paid for by an individual engaged in the market activity are ________ costs.a.Externalb.socialc.Internald.commone.free-rider
Answer: internal cost
Explanation:
Internal costs are costs of a market activity paid for by an individual engaged in the market activity.
External costs are costs of a market activity paid for by an individual not engaged in the market activity.
Social cost is the sum of internal and external costs.
Free rider is when an individual benefits from a public good but doesn't pay for it.
I hope my answer helps you.
E8.14 (LO 4), AP Eileen Corp. had the following balances in receivable accounts at October 31, 2022 (in thousands): Allowance for Doubtful Accounts $52, Accounts Receivable $2,910, Other Receivables $189, and Notes Receivable $1,353. Prepare a balance sheet presentation of receivables. Instructions Prepare the balance sheet presentation of Eileen Corp.'s receivables in good form.
Answer:
Explanation:
In the balance sheet, the assets, liabilities, and stockholder equity is recorded. In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced.
Moreover, it always is prepared on the specified date.
The preparation of the receivable section is presented below:
Accounts Receivable $2,910
Other Receivables $189
Notes Receivable $1,353
Less: Allowance for Doubtful Accounts ($52)
Net receivables $4,400
Where are shares of the reporting company's common stock issued in exchange for cash reported on a statement of cash flows?
Answer:
Please help me! https://brainly.com/question/14319457
Explanation:
Shares of the reporting company's common stock issued in exchange for cash are reported on the financing activities section of the statement of cash flows.
Explanation:The shares of the reporting company's common stock issued in exchange for cash are reported on the financing activities section of the statement of cash flows. This section shows the cash inflows and outflows related to the company's financing activities, such as issuing and repurchasing stock, taking on or repaying debt, and paying dividends.
For example, if a company issues new shares of common stock and receives cash in exchange, it would be reported as a cash inflow under the financing activities section. On the other hand, if the company repurchases its own shares and pays cash, it would be reported as a cash outflow.
Outstanding Job Hours to Print Job Penalty for not completing job in 24 hoursJob A 6 -$120Job B 9 -$200Job C 12 -$360Job D 16 -$400Job E 2 -$50A print shop has contracted to print a number of jobs within 24 hours. Any jobs not completely printed within this time will result in a penalty, as shown in the table above. However too many jobs have been accepted, and not all can be printed. Which jobs should be printed in the next 24 hours?A) Job D, Job A, and Job EB) Job C and Job BC) Job D and Job AD) Job C, Job B, and Job E
Answer:
Option D is correct
Explanation:
The cumulative loss in penalty of this option is the highest compared to the rest which makes it logical.
A company reported total assets at the end of 2017 of $95,000; including cash of $35,000, accounts receivable of $20,000, and inventory of $40,000. It reported total assets at the end of 2018 of $110,000; including cash of $44,000; accounts receivable of $29,000, and inventory of $37,000. Compute the net increase or decrease in cash in 2018.
Answer:
The net increase of cash in 2018 is of $9,000
Explanation:
We can lay out the information as follows:
2017
Cash $35,000
Accounts Receivable $20,000
Inventory $40,000
Total Assets $95,000
2018
Cash $44,000
Accounts Receivable $29,000
Inventory $37,000
Total Assets $100,000
Net cash = Cash in 2018 - Cash in 2017
= $44,000 - $35,000
= $9,000
Anthony Delivery Service has a weekly payroll of $32,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6) for the previous full week. Assume that Anthony has a five-day workweek and has an unadjusted balance in Salaries Expense of $925,000. What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted?
Answer:
$937,800
Explanation:
The adjusting entry would be
Salaries expense A/c $12,800
To Salaries payable A/c $12,800
(Being salary is adjusted)
The salaries expense is computed below:
= Total five days × number of days ÷ total number of days
= $32,000 × (2 ÷ 5)
= $12,800
Now the ending balance of salaries expense would be
= Unadjusting balance + adjusting balance
= $925,000 + $12,800
= $937,800
The correcrt option is B. The December 31 balance of Salaries Expense after adjusting entries are recorded and posted is B. $937,800
To determine the December 31 balance of Salaries Expense after adjusting entries are recorded and posted, we need to account for the accrued salaries for the days worked up to December 31.
Steps to Calculate the Adjusted Salaries Expense:
1. Calculate the Daily Payroll:
Since the weekly payroll is $32,000 and Anthony Delivery Service has a five-day workweek, the daily payroll can be calculated as:
[tex]\[ \text{Daily Payroll} = \frac{32,000}{5} = 6,400 \][/tex]
2. Calculate the Payroll for the Days Worked up to December 31:
December 31 is a Tuesday, which means employees have worked for two days in that week (Monday and Tuesday).
Therefore, the payroll for these two days is:
[tex]\[ \text{Accrued Payroll} = 6,400 \times 2 = 12,800 \][/tex]
3. Record the Adjusting Entry:
To record the accrued payroll for December 30 and 31, we need to debit Salaries Expense and credit Salaries Payable:
[tex]\[ \text{Adjusting Entry:} \\ \text{Debit: Salaries Expense} = 12,800 \\ \text{Credit: Salaries Payable} = 12,800 \][/tex]
4. Calculate the Adjusted Balance of Salaries Expense:
The unadjusted balance in Salaries Expense is $925,000. After posting the adjusting entry, the new balance will be:
[tex]\[ \text{Adjusted Salaries Expense} = 925,000 + 12,800 = 937,800 \][/tex]
The December 31 balance of Salaries Expense after adjusting entries are recorded and posted is $937,800.
Therefore the correct option is B. $937,800.
The complete question is:
Anthony Delivery Service has a weekly payroll of $32,000. December 31 falls on Tuesday and Anthony will pay its employees the following Monday (January 6 ) for the previous full week. Assume that Anthony has a five - day workweek and has an unadjusted balance in Salaries Expense of $925,000 at December 31 . What is the December 31 balance of Salaries Expense after adjusting entries are recorded and posted?
A. $953,000
B. $937,800
C. $920,000
D. $933,200
What is a public franchise? A public franchise is
A. a firm that can supply the entire market at a lower average total cost than can two or more firms.
B. an entity through which the government directly provides certain services to consumers.
C. a firm that is the only seller of a good or service that does not have a close subsitute.
D. a firm designated by the government as the only legal provider of a good or service.
E. a firm that is the only buyer of a factor of production.
Answer:
D. a firm designated by the government as the only legal provider of a good or service.
Explanation:
Public franchise -
It is the type of firm , which is legally opened by the government , to provide certain goods and services, is referred to as public franchise.
These firm are opened in order to restrict the market , as , where other any other firm are not allowed to compete .
This method is adapted in order to regulate the market , which helps the consumers to buy certain products at lower price .