Answer: Cost of keeping old machine is $469,000
Cost of Purchasing New Machine is $271,000
Explanation:
Keeping the old machine.
When calculating the cost of keeping the machine you use the disposal value.
Cost = (Disposal Value - Residual Value) + Total Operating Costs for remaining lifetime
Cost = ( 88,000 - 15,000) + ( 36,000 * 11 years)
Cost = 73,000 + 396,000
Cost = $469,000
Cost of keeping old machine is $469,000.
Cost of New machine
Cost = (Disposal Value - Residual Value) + Total Operating Costs for remaining lifetime
Cost = (239,000 - 76,000) + (12,000 * 9)
Cost = 163,000 + 108,000
Cost = $271,000
Cost if New machine purchased,
= $271,000
help me out please i don’t get it
Recent financial statement data for Harmony Health Foods (HHF) Inc. is shown below.
Current liabilities $ 197 Income before interest and taxes $ 116
10% Bonds, long-term 370 Interest expense 37
Total liabilities 567 Income before tax 79
Shareholders' equity Income tax 22
Capital stock 210 Net income $ 57
Retained earnings 291
Total shareholders'
equity 501
Total liabilities and
equity $1,068
HHF's times interest earned ratio is (Round your answer to two decimal places.):__________.
a) 10.00.
b) 3.14.
c) 1.54.
d) 2.14.
Answer:
HHF's times interest earned ratio is 3.14. The right answer is b
Explanation:
In order to calculate the times interest earned ratio we would have to use the following formula:
Times interest earned ratio=Earnings before interest and taxes/Interest expenses
According to the given data we have the following:
Earnings before interest and taxes= $116
Interest expenses =$37
Therefore, Times interest earned ratio=$116/$37
Times interest earned ratio=3.14
HHF's times interest earned ratio is 3.14
Calculate the contribution to total performance from currency, country, and stock selection for the manager relative to EAFE in the following table. All exchange rates are expressed as units of foreign currency that can be purchased with 1 U.S. dollar. (Round your answers to 2 decimal places. Do not round intermediate calculations. Input all amounts as positive values. Omit the "%" sign in your response.)
EAFE Weight Return on Equity Index E1/E0 Manager's Weight Manager's Return
Europe 0.5 12% 1.1 0.4 14%
Australasia 0.2 16 1.2 0.55 16
Far East 0.3 17 1.3 0.05 16
Find the given attachment
The accompanying table shows a small community's demand for monthly subscriptions to a streaming movie service. Assume that only two firms (Nextflix and Flixbuster) sell in this market, that each firm offers the same quality of service and movie selection, and that each firm's marginal cost is constant and equal to 0 (zero) due to excess capacity.
Price/Month (P) Number of Customers (Q) Total Revenue/Month (TR)
$10 0 $0
$9 100 $900
$8 200 $1,600
$7 300 $2,100
$6 400 $2,400
$5 500 $2,500
$4 600 $2,400
$3 700 $2,100
$2 800 $1,600
$1 900 $900
$0 1,000 $0
If the two firms operating in this market agreed to each supply one-half of the quantity a monopolist would supply, the contract would specify that:
a) Nextflix supplies zero subscriptions and Flixbuster supplies 500 subscriptions.
b) Nextflix supplies 250 subscriptions and Flixbuster supplies 250 subscriptions.
c) Flixbuster supplies 400 subscriptions and Nextflix supplies 100 subscriptions.
d) Nextflix supplies 400 subscriptions and Flixbuster supplies 100 subscriptions.
e) Flixbuster supplies 500 subscriptions and Nextflix supplies zero subscriptions.
Answer:
The correct answer is (b) Nextflix supplies 250 subscriptions and Flixbuster supplies 250 subscriptions.
Explanation:
Solution
Now,
A monopolist would supply where the total revenue is Maximum
So, quantity produced = 500 where each will produce 500/2
=250 units
Therefore from the given question stated as, If the two firms operating in this market agreed to each supply one-half of the quantity a monopolist would supply, the contract would specify that: Nextflix supplies 250 subscriptions and Flixbuster supplies 250 subscriptions.
An aircraft manufacturer with a strong presence in the United States, is looking to expand its market overseas. The firm currently sells its aircraft to several airlines in the United Kingdom but now wants to establish manufacturing units there as well in order to acquire a bigger share in the European market. Hence, it plans to merge with QueenAir, a British aircraft manufacturer. Which of the following, if true, would weaken the company's decision to merge with QueenAir?
a. Merging with QueenAir would increase its profits considerably.
b. There is increasing economic uncertainty in its U.S. market.
c. The preferences of airline customers in Europe and the U.S. are similar.
d. There is a striking difference in the organizational cultures of the two firms.
e. A competitor in the U.S. market recently went out of business.
Answer:
d. There is a striking difference in the organizational cultures of the two firms.
Explanation:
Numeral d would likely be the argument that would weaken the company's decision to merge with QueenAir.
The reason is that, if the two companies have strikingly different organizational cultures (for example, the American company could have a more traditional, vertical hierarchy, while the British company could be more horizontal and less hierarchical), coordinating them both once the merge is completed could be so difficult as to make the whole process not worth it.
8. One of ADNOC's businesses has a net income to revenue ratio of 25%.
a) This ratio an expression of the
(1 mark)
b) Use the ratio above to calculate the product cost (2 Marks)
HUAWEI
Answer:
a) This ratio is an expression of the Net Income over the Revenue. It shows that for every revenue generated, there is a net income of 25%. Every dollar in revenue gives ADNOC a net income of $0.25.
b) Using the ratio above to calculate the product cost:
It is not possible to use net income to revenue ratio to calculate the product cost. The product cost is made of costs of materials, labor, and factory expenses. These costs are directly identifiable to the product.
Unless we assume here that product cost is equal to the total cost.
Using the above assumption, the product cost will be 75% (100 - 25)%. This means, for every dollar in revenue, the all-inclusive product cost will be equal to $0.75.
Explanation:
a) Net Income is the result obtained after deducting all expenses, including product cost and the cost of doing business. The net income is also called the profit margin ratio.
Net Income Ratio is calculated by dividing the net income by the net sales. Net sales is calculated by subtracting any returns or refunds from gross sales. Net income equals total revenues minus total expenses and is usually the last number reported on the income statement
b) In costing, the product cost can be derived in many ways. There are product costs based on marginal costing, absorption costing, and total costing. The most relevant is the cost based on marginal costing.
Prahm Corp. wants to raise $5.3 million via a rights offering. The company currently has 590,000 shares of common stock outstanding that sell for $54 per share. Its underwriter has set a subscription price of $27 per share and will charge the company a spread of 6 percent. If you currently own 7,000 shares of stock in the company and decide not to participate in the rights offering, how much money can you get by selling your rights
Answer:
Proceeds from sale of rights will be $49407.62
Explanation:
Proceeds from the sale of rights
=> Net Proceeds per share = Subscription price per share x (1 – Spread)
= $27 × (1 – 0.06)
= $25.38 per share
=> New shares offered = money raised/net proceeds per share
= 5300000/25.38 = 208826 Shares
=> Number of rights needed = current shares/New share offered
= 590000/208826 = 2.82532
=> The Ex-rights stock price will be
Ex-rights stock price = ((Number of rights needed × selling price per share) + Subscription price) + (Number of rights needed + 1)
= ((2.82532 × 54) + $27 per share) / (2.82532 + 1) = $46.94177 per share
So, the value of a right = Selling price per share - Ex-rights stock price
= $54 - $46.94177
= $7.05823 per share
Therefore, proceeds from selling the rights will be
= Number of shares × value of a right
= 7000 × 7.05823
= $49407.62
Proceeds from sale of rights will be $49407.62
One of the most fundamental issues in business law involves the question of when a company can be held liable for the acts of an individual person, whether this involves a contractual obligation or a personal injury (meaning a tort).
A) Choose one of the scenarios below and explain whether or not you think the business is liable for the acts under the principles of agency law.
1. A real estate agent hires a handful of local kids to do the landscaping of homes that he is trying to sell. In addition to the general payment, he reimburses them for the cost of gasoline for lawn mowers and other equipment. While mowing a lawn, one of the kids loses control of a lawn mower and it mows down a neighbors very expensive collection of lawn gnomes.
2. In a hurry to get his apartment complex painted, a homeowner hires three people he meets at the local home improvement store to do the work. Since they’re not professional painters, he provides all of the equipment and paint needed to do the work. While at the apartment complex, one of them breaks into an apartment, assaults the resident and steals a wallet.
3. An entrepreneur decides to open up his own car-for-hire business, and creates an app allowing anyone to connect with people who need a ride. The passengers pay the entrepreneur, who in turn pays a percentage to the driver. Other than the app, the entrepreneur has no other involvement between the driver and the passenger. One night, a driver who is intoxicated picks up a passenger and then gets into an accident, and the passenger is severely injured.
Answer:
Explanation below.
Explanation:
When considering the first illustration it will be discovered that the company involved can be held responsible for the act performed or carried out by the kids.
This is because, the people that were employed to do the work are kids and inexperienced. Under the agency law, the kids in this aspect are not punishable because they are still considered to be under the tutelage of older people.
The company will be held responsible for all the act the kids performed. The company can also be charged for child abuse.
Scenario 1 :
The business is liable for the acts under the principles of agency law :
When considering the first scenario states that it will be discovered that the company involved can be held responsible for the actions performed or carried out by the kids. This is because the people that were employed to do the work are kids and inexperienced. Under the agency law, the kids in this aspect are not punishable because they are still considered to be under the tutelage of older people. The company will be held responsible for all the actions the kids perform. The company can also be charged for child abuse.Know more :
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Arlene is single and has taxable income of $18,000. Her tax liability is currently $2,236. She has the opportunity to earn an additional $5,000 if she accepts and completes a special project at work. There are no additional expenses to offset the $5,000 income. Consequently, Arlene will have a tax liability of $2,986.
Required:
1. If she accepts the special project. Arlene has a marginal tax rate of __________.
Answer:
The answer is 15%
Explanation:
Solution
Recall that:
Arlene has a income (taxable) = $18,000
Current tax liability = $2,236
She has an opportunity to have a additional of =$5000
Consequently Arlene has a tax liability of =$2986
Now,
We find the marginal tax rate
Thus,
Marginal tax rate = Change in tax / change in taxable income
=(2986- 2236)/5000
= 750/5000
= 0.15 or 15%
Therefore, Arlene has a marginal tax rate of 15%
A young couple has made a deposit of the first month's rent (equal to $1,000) on a 6-month apartment lease. The deposit is refundable at the end of six months if they stay until the end of the lease. The next day they find a different apartment that they like just as well, but its monthly rent is only $900. And they would again have to put a deposit of $900 refundable at the end of 6 months. They plan to be in the apartment only 6 months. Should they switch to the new apartment?
Answer:
It would be wiser for the couple to stay in the old apartment and save $1400
Explanation:
If they stay until the end of the lease, total money that will be paid out is $1000 x 6 = $6000,
If they leave, they'll have to forgo $1000.
If they move to their new apartment, they'll pay $900 x 6 = $5400
total expenditure if they move to the new place at the end of the six months period will be, the $1000 that will not be refunded back to them on the old apartment, plus this new $5600 for six month's rent in this new apartment, and that will be a total of $6400.
It would be wiser for the couple to stay in the old apartment and save $1400
11) A company knows that they will sell 80,000 cases of #2 Pencils at a steady rate over the course of the next year. It costs them $12 a year to warehouse each case, based on the average number of cases in the warehouse, and it costs them $100 each time a delivery is made to their warehouse. How many orders should they place each year in order to minimize their total inventory costs? Assume that the orders are all of equal size. Round your answer to the nearest whole number
Answer:
139 units
Explanation:
In order to compute the number of orders place each year so that it can minimize the total inventory cost we need to use the economic order quantity formula i.e shown below:
The computation of the economic order quantity is shown below:
[tex]= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}[/tex]
where,
Annual demand = 80,000 cases
Ordering cost = $12
And, the carrying cost = $100
Now placing these values to the above formula
So, the economic order quantity is
[tex]= \sqrt{\frac{2\times \text{80,000}\times \text{\$12}}{\text{\$100}}}[/tex]
= 139 units
The higher education department of Holmes Institute recorded data on the number of students enrolled in the different study majors for the years Study Major 2018 2019 Statistics 1700 2250 Business Law 700 900 Accounting 1300 1450 Economics 750 1000 Finance 1450 1758 Marketing Management 1069 1189 Auditing 360 3512018 and 2019. The data are stored in file STUDYMAJOR.xls. a) Use an appropriate graphical technique or chart to compare the number of enrolment in 2018 and 2019 of the different study major. Display the chart. (2 marks) b) Use an appropriate graphical technique or chart to display the percentage value of the number of enrolment of the different study major in 2018 and 2019. Display the chart.
Answer:
The number of enrolment and the calculated the percentage value of the number of enrolment of the different study major in 2018 and 2019 are given below:
Study Major 2018 2019 2018 (%) 2019 (%)
Statistics 1,700 2,250 23% 25%
Business Law 700 900 10% 10%
Accounting 1,300 1,450 18% 16%
Economics 750 1,000 10% 11%
Finance 1,450 1,758 20% 20%
Marketing Management 1,069 1,189 15% 13%
Auditing 360 351 5% 4%
Total 7,329 8,898 100% 100%
Explanation:
Note: See the attached excel file for the two bar charts.
According to Benjamin Lang what is the hardest thing about being an entrepreneur
Answer:
Benjamin Lang was just 14 years when he decided to become his own business and hence become an entrepreneur. And he soon realized that the biggest challenge in front of him was to win the trust of the clients. And that requires a complete sacrifice plus the best level of skills to tackle the real world and project requirements. It's not that easy to win the trust of the clients. You need to work quite hard to show through your performances that you can fulfill any of the client's requirements, and only then you will be able to ensure that clients trust you, and you end up being a successful entrepreneur.
Explanation:
Benjamin Lang was only 14 when he decided to start his own business and thus became an entrepreneur.
Who is Benjamin Lang?Ben Lang is an 18-year-old online businessman whose journey began at the age of 14 when he started his eBay business.
Ben Lang soon realized that the biggest challenge before him was gaining customer trust.
And that requires total sacrifice and the best level of skills to deal with the real world and the needs of the project. It is not so easy to gain the trust of clients.
An entrepreneur needs to work hard to show by your actions and meet any client's needs and only then can ensure that clients trust you, and you end up being a successful entrepreneur.
Thus, these are lessons learned by Benjamin Lang in the stages of becoming a successful entrepreneur.
To learn more about Benjamin Lang, refer:
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Sue's Soup Products uses a process costing system with two processing departments: the Mixing and Cooking Department and the Canning Department. Work in process inventories are reduced to zero each month. In March, the Mixing and Cooking Department incurred manufacturing costs of $113,400 to mix 54,000 gallons of soup. The Canning Department incurred manufacturing costs of $9,500. A total of 190,000 cans of soup were transferred to the finished goods warehouse during the month.
Required:
1. The unit cost per can of soup transferred to the finished goods warehouse during March was ___________.
Answer:
$0.65
Explanation:
The unit cost per can of soup transferred to finished goods warehouse during March is the total manufacturing costs incurred by both Mixing and Cooking department and Canning Department divided by the total number of cans of soup transferred.
Both departments incurred $122,900 in manufacturing costs i.e($113,400+$9,500) while the total number of gallons of soup transferred to finished goods warehouse was 190,000 cans
Unit cost per can of soup=$122,900/190,000=$0.65
The Bella Capri runs as an Italian restaurant that specializes in freshly prepared cooked meals. It is located in premises on a main street of town with seating capacity for 45 customers. The lease on the premises is $250 per week. General business expesnes are a further $150 each week. Light, heat and fuel are $40 per week. Wage costs for three staff (cook and two waiters) is $600 per week including all other employment costs. The restaurant has set their prices so that it is possible to buy a meal for around $16 per head on average. The cost of the ingredients would be no more than $4 per head. What will be the fixed costs for Bella Capri per week
Answer:
The answer is $1000.
Explanation:
We can define fixed cost as the costs that does not increase or decrease as with the change in the service given or the goods produce.
According to this, we can say that the $16 price per meal and therefore the $4 ingredients are not included in the fixed cost. The light, heat and fuel are also dependent on the usage, so they do vary with the service given.
The other costs given in the question are eligible to be counted as fixed costs because they are not dependent on the number of costumers or the amount of food served.
So the fixed costs for Bella Capri per week is $250 + $150 + $600 = $1000.
I hope this answer helps.
The following transactions occur for the Panther Detective Agency during the month of July:
a. Purchase a truck and sign a note payable, $15,000.
b. Purchase office supplies for cash, $600.
c. Pay $800 in rent for the current month.
Required:
1. Record the transactions. The company uses the following accounts: Cash, Supplies, Equipment (for the truck), Notes Payable, and Rent Expense. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answer:
a.
Dr Equipment $15,000
Cr Notes payable $15,000
b.
Dr Supplies $600
Cr Cash $600
c.
Dr Rent expense $800
Cr Cash $800
Explanation:
Panther Detective Agency Journal entry
a.
Dr Equipment $15,000
Cr Notes payable $15,000
b.
Dr Supplies $600
Cr Cash $600
c.
Dr Rent expense $800
Cr Cash $800
Answer:
Panther Detective Agency
Journal Entries:
a) Debit Equipment Account $15,000
Credit Notes Payable $15,000
To record purchase of truck with a note.
b) Debit Supplies Account $600
Credit Cash Account $600
To record purchase of office supplies for cash.
c) Debit Rent Expense $800
Credit Cash Account $800
To record payment of rent for the current month.
Explanation:
a) The purchase of a truck increases the Equipment Account and the Notes Payable Account by $15,000.
b) Payment for office supplies reduces the Cash Account and increases the Supplies Account by $600.
c) The payment for rent for the current month increases the Rent Expense Account and reduces the Cash Account by $800.
d) The use of journal entries is to record business transactions as they occur. It makes it easier to know which account will be credited and which to be debited in the Ledger.
Agricultural output is affected by the weather. Excessively high temperatures and a lack of rainfall are detrimental too crop yields. Of course, all farmers want the best growing conditions possible, and they work with whatever the weather is, in order to maximize their crop yield. Suppose, however, for a particular crop, this is a bad year and there is a decrease in crop yield, and therefore less of the good is produced. Is there any way this could be beneficial for the framersrevenue? a) Without the use of a diagram, in your own words, layout the conditions) under which this could happen b) Suppose you have a bright but sceptical friend who doubts your answer in part (a). Without relying on technical jargonexplain (again, in your own words) how such a surprising result is possible
Answer: The answer is provided below
Explanation:
a. When the quantity supplied of a particular crop reduces, it will affect the farmer's revenue but this can still be beneficial to the farmer provided these conditions prevails:
• If demand for the crop rises more than its fall in supply, this will lead to a rise in the and price of the crop. Hence, there will also be an increase in the revenue of the farmer and the farmer will try to adjust output and sell at higher prices. Therefore, the excess demand can off set a fall in the supply.
b. We know that the supply of a crop is limited. For example, let's assume that the crop is rice. Now the situation is that people are demanding more beans maybe as a result of festive season. Therefore, everyone will want to purchase rice which will lead to an increase in the price of rice due to excess demand.
The farmer will try as much as possible to maximise profit and will therefore sell the rice at higher price to those that wants to buy. Therefore, it's clear that the farmer can still benefit, even if his supply is limited, but the demand must be greater than its decline in supply.
Your business partner has proposed you to join him (her) in investing $100000 each in a new enterprise. assume that you have that amount of money available. in case of success your return is $40000 but in case of failure you lose $20000. your analysis shows P40=0.3 of success and P-20=0.7 of failure.
would you invest?what is your investment risk preference and analysis?
Answer:
I wouldn't invest.
Risk preference at least 50-50 chance of gain and loose
Explanation:
case of success the return i get is $40000
case of failure i lose $20000.
My analysis shows P40=0.3 of success
And P-20=0.7 of failure.
The probability of a loose is much bigger than the probability of a gain.
So I can't bear the loose of loosing 7 times if about 20000 and gaining 3 times of about 40000 it doesn't balance.
My loose accumulating to 140000
While my gain is 120000.
I can't invest
Delmar Inc. uses a stanDelmar Inc. uses a standard cost system. Labor standards are 2.0 hours per widget at $8.80 per hour. During August, Delmar Inc. paid its workers $147,250 for 16,500 hours. Delmar Inc. produced 8,600 widgets during August. a. Calculate the direct labor rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).)dard cost system. Labor standards are 2.0 hours per widget at $8.80 per hour. During August, Delmar Inc. paid its workers $147,250 for 16,500 hours. Delmar Inc. produced 8,600 widgets during August. a. Calculate the direct labor rate variance. (Do not round your intermediate calculations. Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).) b. Calculate the direct labor efficiency variance. (Indicate the effect of variance by selecting "Favorable", "Unfavorable", or "None" for no effect (i.e., zero variance).)
Answer:
Instructions are below.
Explanation:
Giving the following information:
Labor standards are 2.0 hours per widget at $8.80 per hour.
During August, Delmar Inc. paid its workers $147,250 for 16,500 hours. Delmar Inc. produced 8,600 widgets during August.
a. Calculate the direct labor rate variance.
We need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 147,250/16,500= 8.92
Direct labor rate variance= (8.8 - 8.92)*16,500
Direct labor rate variance= $1,980 unfavorable
b. Calculate the direct labor efficiency variance.
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (2*8,600 - 16,500)*8.8
Direct labor time (efficiency) variance= (17,200 - 16,500)*8.8
Direct labor time (efficiency) variance= $6,160 favorable
Evaluate the statement "Accounting is all about numbers.". Using the definition of accounting to
justify your answer. (10 marks, maximum 250 words)
Answer:
To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well.
Explanation:
Accounting is the measurement, processing and communication of financial and non-financial information about economic entities such as business and corporations.
To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well .These Non - Financial information included the Corporate Activities which has impacts on Community (People) and the Environment (Planet).
Journalize the following transactions of Trapper Jon’s Productions. Assume 360 days in a year.
June 23. Received a $48,000, 90-day, 8% note dated June 23 from Radon Express Co. on account.
Sept. 21. The note is dishonored by Radon Express Co.
Oct. 21. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Radon Express Co. on September 21.
Answer:
Explanation:
To record note received
On June 23. Debit Credit
Notes Receivable $48,000
Accounts receivable for Radon ExpressCo $48,000
interest revenue = $48,000 x 8%x 90/360
To record dishonored note
On September 21st Debit Credit
Accounts receivable for Radon Co $48,960
Notes Receivable $48,000
Interest Revenue $960
Interest Revenue $48,960 x 10%x 30/360 = $408
Journal to record Cash Received
October 21 Debit Credit
Cash $49,368
Accounts Receivable for Radon Express Co $48,960
Interest $408
The information listed below refers to the employees of Brennan Company for the year ended December 31, 2016. The wages are separated into the quarters in which they were paid to the individual employees. :.
For 2016, State D's contribution rate for Brennan Company, based on the experience-rating system of the state, was 3.6% of the first $7,000 of each employee's earnings. The state tax returns are due one month after the end of each calendar quarter. During 2016, the company paid $3,024.00 of contributions to State D's unemployment fund. Employer's phone number: (613) 555-0029. Employer's State D reporting number: 00596. Using the forms supplied on pages 5-42 to 5-44, complete the following for 2016:
a. The last payment of the year is used to pay the FUTA tax for the fourth quarter (the first three-quarter's liability was more than the $500 threshold). State D is not a credit reduction state.
Tax Payment:
Date _____________ Amount $____________
b. Employer's Report for Unemployment Compensation, State D-4th quarter only. Item 1 is the number of employees employed in the pay period that includes the 12th of each month in the quarter. For Brennan Company, the number of employees is ten in October, nine in November, and eight in December. All employees earned 13 credit weeks during the last quarter except for Sun (8) and Harrow (9).
c. Employer's Annual Federal Unemployment (FUTA) Tax Return-Form 940
Indicate on each form the date that the form should be submitted and the amount of money that must be paid. The president of the company prepares and signs all tax forms.
Answer:
Explanation:
The last payment date will be used in paying tax due for the fourth quarter the payment date will be the due date for payment which is January 31. and the amount will be 3024 assuming given 3024 is for the fourth quarter
b. The number of employees that are employed in the fourth quarter will be 10 that is if the decline in coming months is only because of disassociation of existing employees and no new employees are employed during the quarter.
c. Because of the time of submitting the form is Jan 31st. If taxes are paid on the due date, the due date is Feb 10. Amount of money to be paid is going to be 3024.
Wayne and May, who are both in their early 40s, have been happily married for nearly 20 years. While they have been saving some money for their eventual retirement, they know they are well short of what they need. Given their age, what percent of their income should they devote to retirement savings in order to make sure that they reach their retirement income goal?
a) 15% - 25%.
b) 10% - 15%.
c) More than 50%.
d) 25% - 40%.
Answer:
d) 25% - 40%
Explanation:
The level of stable income expected after retirement is based on couple's pattern of consumption and lifestyle. Looking at the U.S. statistics over the past few years, it was found that the average savings rate in the U.S. was around 9-10 percent, indicating that about 90 percent of earned income is spent on consumption.Therefore the couple should be prepared to save about 25 per cent and 40 per cent and meet the target of retirement. In this case, it is presumed that both interest rate and inflation rates do not exist to make the analysis easy.
For instance, if the couple earned a total of $1,00,000 a year and saved say about 40% per year which is $40,000 a year then total couple savings stood at about 80 percent of about $80,000 a year. So the overall savings rate in their retirement life would be 80 per cent, which will serve as a huge corpus.
This should be noted that at this point in time, as after retirement, the couple should cut down on expenses apart from the usual course of expenses which are medical bills and other services that need to be used and come at a cost. It is also very important to save about 25 percent to 40 percent per year to enjoy leisure activities such as travel after retirement.
You have been made treasurer for a day at AIMCO, Inc. AEVICO develops technology for video conferencing. A manager of the satellite division has asked you to authorize a capital expenditure in the amount of $10,000. The manager states that this expenditure is necessary to continue a long-running project designed to use satellites to allow video conferencing anywhere on the planet. The manager admits that the satellite concept has been surpassed by recent technological advances in telephony, but he feels that AEVICO should continue the project because $2.5 million has already been spent over the past 15 years on this project. .Although the project has little chance to be viable, the manager be Keves it would be a shame to waste the money and time already spent. Use marginal cost-benefit analysis to make your decision regarding whether you should authorize the $10,000 expenditure to continue the project.
Which of the following statements correctly describes your decision? (Select the best answer below.)
a) You should not authorize the $10,000 expenditure to continue the project because it is surpassed by new telephony technology. Though the marginal cost-benefit analysis treats the $2.5 million as a cost that is irrelevant to the current decision making, continuing the project would be foolish even if the $10,000 expenditure generates a positive net present value.
b) You should not authorize the $10,000 expenditure to continue the project even if the project will generate a positive net present value. The marginal cost-benefit analysis treats the $2.5 million as a cost that is extremely unlikely to be recovered and the $10,000 expenditure will also become a cost unlikely to be recovered.
c) You should authorize the $10,000 expenditure to continue the project because the marginal cost-benefit analysis treats the $2.5 million as part of the project's initial capital outlay that can be recovered only if the project is implemented
Answer: D. You should authorize the $10,000 expenditure to continue the project if the project will generate a positive net present value. The marginal cost-benefit analysis treats the $2.5 million as a cost that is irrelevant to the current decision making.
Explanation:
The options you presented were not all the options listed. The option I have listed as the answer is the correct option.
Under the Marginal Cost - Benefit analysis, only the Additional costs and inflows are considered. The original cost is considered a Sunk Cost and therefore irrelevant.
When making a decision therefore, the company or person should ask if the new investment will bring about a positive NPV. If it is not anticipated to, then there is no need to invest more into it.
Which of the following events (in the marketplace or within the company itself) will decrease the market price of Marvelous Manufacturing's common stock? Future dividend growth for Marvelous is forecast to increase from 6% to 9%. Marvelous has increased its estimate of next year's dividend from $1.60 to $1.75. The market's expectation of future inflation decreases from 7% to 5% The beta on Marvelous’ common stock decreases from 1.4 to 1.2. The risk-free rate of return required of investors increases from 8% to 10%.
Answer:
The beta on Marvelous’ common stock decreases from 1.4 to 1.2
Explanation:
According to the scenario, computation of the given data are as follow:-
As we know that
Expected Return = Market Risk Premium × Beta + Risk Free Rate
If the Beta is decreased, this means that expected return is decreased too, and if the expected return decreases the market value is decreases too.
According to the analysis, The Beta on marvelous’ common stock decreases from 1.4 to 1.2 is correct option.
Bagel's food had to change the labeling on their products to meet the specification regarding vegetarian and non-vegetarian foods, set by the government in the Japanese market. They also had to mention the ingredients in Japanese to make it clear for the local customers. The component of the product that is the focus in the above scenario is the ______
Answer:
Packaging component.
Explanation:
A packaging component is an integral part of a product produced for export or import purposes for easy identification, advertising and quality assurance.
The packaging component of the product is the focus in the scenario that, Bagel's food had to change the labeling on their products in order to meet the specification set by the government on vegetarian and non-vegetarian foods in the Japanese market.
Also, Bagel's food had to list or mention the ingredients used in making their products in Japanese, so the local consumers or customers could have an understanding of the food products.
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 460 Research and development expense $ 114 Depreciation expense 90 Income tax expense 276 Sales revenue 5,730 Loss on disposal of plant assets 46 Interest expense 161 Cost of goods sold 3,104 Advertising expense 499 Rent expense 105 Sales returns and allowances 280 Utilities expense 60 Assume a tax rate of 34%.
Prepare a multiple-step income statement. (Round answers to 0 decimal places, e.g. 15,222.) The Clorox Company Income Statement (amounts in millions)
Calculate the gross profit rate and the profit margin. (Round answers to 1 decimal place, e.g. 15.2%.)
Gross profit rate________%
Profit margin ________%
Answer:
Gross profit rate = 43.04 %
Profit margin = 6.47 %
Explanation:
Find the given attachments
stabilizing community lifelines is the primary effort during?
Answer:
Incident Stabilization
Explanation:
This is the primary effort during Incident Stabilization. A Community Lifeline allows for the continuous operation of crucial government/business functions that is vital to human health and safety. They are also the fundamental services within each community that, when stabilized allow all other aspects of that community to function as intended.
Sandhill Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred.
June
1 Purchased books on account for $2,575 (including freight) from Catlin Publishers, terms 2/10, n/30.
3 Sold books on account to Garfunkel Bookstore for $1,300. The cost of the merchandise sold was $900.
6 Received $75 credit for books returned to Catlin Publishers.
9 Paid Catlin Publishers in full.
15 Received payment in full from Garfunkel Bookstore.
17 Sold books on account to Bell Tower for $1,150. The cost of the merchandise sold was $750.
20 Purchased books on account for $900 from Priceless Book Publishers, terms 3/15, n/30.
24 Received payment in full from Bell Tower.
26 Paid Priceless Book Publishers in full.
28 Sold books on account to General Bookstore for $1,900. The cost of the merchandise sold was $970.
30 Granted General Bookstore $130 credit for books returned costing $90.
Journalize the transactions for the month of June for Powell Warehouse, using a perpetual inventory system
Answer:
Sandhill Warehouse
Journal Entries:
June 1:
Debit Inventory Account $2,575
Credit Accounts Payable (Catlin Publishers)
To record purchase on account, terms 2/10, n/30.
June 3:
Debit Accounts Receivable (Garfunkel Bookstore) $1,300
Credit Sales $1,300
To record sales of books on account.
Debit Cost of Goods Sold $900
Credit Inventory Account $900
To record cost of books sold.
June 6:
Debit Accounts Payable (Catlin Publishers) $75
Credit Inventory Account $75
To record credit for books returned.
June 9:
Debit Accounts Payable (Catlin Publishers) $2,500
Credit Cash Discount $50
Credit Cash Account $2,450
To record payment on account.
June 15:
Debit Cash Account $1,300
Credit Accounts Receivable (Garfunkel Bookstore) $1,300
To record cash receipt on account.
June 17:
Debit Accounts Receivable (Bell Tower) $1,150
Credit Sales Account $1,150
To record books sold on account.
Debit Cost of Goods Sold $750
Credit Inventory Account $750
To record cost of books sold.
June 20:
Debit Inventory Account $900
Credit Accounts Payable (Priceless Book Publishers) $900
To record purchase on account, terms 3/15, n/30.
June 24:
Debit Cash Account $1,127
Debit Cash Discount $23
Credit Accounts Receivable (Bell Tower) $ 1,150
To record cash receipt on account.
June 26:
Debit Accounts Payable (Priceless Book Publishers) $900
Credit Cash Discount $27
Credit Cash Account $873
To record payment on account.
June 28:
Debit Accounts Receivable (General Bookstore) $1,900
Credit Sales $1,900
To record sale of books on account.
Debit Cost of Goods Sold $970
Credit Inventory Account $970
To record cost of books sold.
June 30:
Debit Sales (Returns) $130
Credit Accounts Receivable (General Bookstore) $130
To record Sales credit
Debit Inventory Account $90
Credit Cost of Goods Sold $90
To record cost of returned books.
Explanation:
1. Purchase of books on account increases inventory and Accounts Payable.
2. Sale of books on account increases Sales and Accounts Receivable. It also reduces the Inventory Account and increases the Cost of Sales.
3. Return on Purchases reverses the entries made when goods were purchased.
4. Since Garfunkel Bookstore paid after 10 days, it could not enjoy the 2% cash discount on offer.
5. Bell Tower paid within 10 days and enjoyed the 2% cash discount.
6. Priceless Book Publishers was paid within 15 days, so the 3% cash discount applies.
7. Return on Sales reverses the entries during sales. |t reduces Sales by a contra account called Sales Returns and the Accounts Receivable. The inventory account is increased and the Cost of Sales is reduced.
8. Journal entries record the daily transactions of a business as they occur. From the general journal, postings are made to the Ledger.
Jake wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacation is priced at $800. He has only $1,574 in his checking account, so he cannot afford to purchase both. After much thought, Jake buys the computer and writes a check for $1,299.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
Role of Money
Medium of Exchange
Unit of Account
Store of Value
Jake can easily determine that the price of the computer is more than the price of the vacation.
Jake has $1,574 in his checking account.
Jake writes a check for $1,299.
Answer:
1. Jake can easily determine that the price of the computer is more than the price of the vacation. ⇒ UNIT OF ACCOUNT
2. Jake has $1,574 in his checking account. ⇒ STORE OF VALUE
3. Jake writes a check for $1,299. ⇒ MEDIUM OF EXCHANGE
Explanation:
The four functions of money are:
unit of account: since money is a common denominator, it helps to assign value to different goods and services.store of value: you can save money in order to purchase gods and services in the future.medium of exchange: you can purchase and sell goods and services using. moneystandard of deferred payment: money allows loans that require future payments of both principal and interest.