A machine with a cost of $85,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 20,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

Answers

Answer 1

The amount of depreciation for the second full year, using the double-declining-balance method is  $20,400.

What is the amount of depreciation in the second year?

Depreciation is a method used in expensing the value of an asset.

Double declining depreciation expense = [2 x (1/useful life of the asset)] x cost of the asset

Depreciation expense in year 1 = 2/5 x $85,000 = $34,000

Book value at the beginning of year 2 = $85,000 - $34,000 = $51,000

Depreciation expense in year 2 = 2/5 x $51,000 = $20,400

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Related Questions

Daguio Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year, actual direct labor-hours for the year were 18,200 hours, manufacturing overhead for the year was underapplied by $12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to: _________.
A. $11.40 per machine-hour
B. $12.34 per machine-hour
C. $12.06 per machine-hour
D. $10.53 per machine-hour

Answers

Answer:

It's A. 11.40 per machine-hour

Explanation:

IT'S AAAAAAAAAAAAAA

Answer:

The answer is A .

Explanation:

According to your research, the growth rate in dividends for DR Dime for the previous 10 years has been negative 14 percent. If investors feel this growth rate will continue, what is the required return for DR Dime stock?

Answers

The required return for DR Dime stock will be -9.07% If the investors felt the growth rate will continue.

What is the formula for required return?

The formula for required return is Ke = (D0(1+q)/P0 + q)

Given data

D0 = 0.89

G = -14%

P0 = 15.52

Required return = (0.89*(1-0.14)/15.52) +-0.14

Required return = 0.0493170103 - 0.14

Required return = -0.0906829897

Required return = -9.07%

In conclusion, the required return for DR Dime stock is -9.07%.

Missing options "You've collected the following information from your favorite financial website. 52-Week PriceStock (Div)DivYld %PERatioClosePriceNetChgHiLo77.40 10.43 Palm Coal .362.6 6 13.90 -.24 55.81 33.42 Lake Lead Grp 1.543.8 10 40.43 -.01 130.93 69.50 SIR 2.002.2 10 88.97 3.07 50.33 14.04 DR Dime .895.7 6 15.52 -.26 35.00 20.74 Ca"

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You purchase a home for $200,000 and borrow the entire amount from Broadway Bank at an APR of 6% with monthly payments. The maturity of your mortgage equals (30+X) years. a. (8 points) Draw a time line that depicts the cash flows from the mortgage payments i. compute the payment and show your inputs and work. ii. Use negative numbers for outflows and positive for inflows. b. (8 points) Compute the outstanding mortgage amount after you have made (10+Y) years of payments. i. Show this point on the time line, and ii. give the inputs to your computations for full credit. (8 points) c. (9 payments) What is the interest and principal component of your mortgage payment on the next mortgage payment made after (10+Y) years in part (b)? Show your computations.

Answers

Answer:

    c c c c c         c c c c c c

 //-!-!-!-!-!-!-!- {...} -!-!-!-!-!-!-!-!//

F0                                   30+X

on F0 we receive the 200,000 dollars

then each month (!) we made the installment payment (c)

this continues for the entire life of the mortgage until we reach the year 30 + X at which the mortgage ends and no more payment is done.

The outstanding amount will be the 200,000 less the capitalize installment over 10 + Y years.

Notice as the payments are monthly we use a monthly rate.

[tex]200,000 - C \times \frac{(1+0.06/12)^{(10+Y)12}-1 }{0.06/12}[/tex]

Outstanding after 10 + Y years

[tex]200,000 - C \times \frac{(1+0.005)^{(120+12Y}-1 }{0.005}[/tex]

the interest component will be the outstanding balance times rate

[tex](200,000 - C \times \frac{(1+0.005)^{120+12Y}-1 }{0.005}) \times 0.005[/tex]

reduced expression:

[tex](1,000 - C \times ((1+0.005)^{120+12Y}-1) [/tex]

and the amortization of the installment quota less interest:

[tex]C - (1,000 - C \times ((1+0.005)^{120+12Y}-1)[/tex]

[tex]C^2 \times ((1+0.005)^{120+12Y}-1) -1,000C[/tex]

Explanation:

As we don't know the values for X and Y we have to use the main formulas and reduce them the most we can.

If we are given values for X and Y we place them in the formulas and solve.

Brad works in purchasing for a manufacturing firm. He has a meeting with a potential supplier at a nice restaurant. The supplier encourages him to order as much as he wants. At the end of the meal, the supplier insists upon paying. Brad is not sure what he should do. He is afraid that, even if he attempts to be unbiased, this free meal will influence his choice of supplier in the future. However, he also doesn't want to be rude to the supplier by turning down his offer. What should Brad do?

Answers

The thing which Brad should do in the given situation is to offer to split the costs of the meal.

What is Business Relationship?

This refers to the interaction between two or more people who are interested in entering a business partnership.

With this in mind, we can see that Brand goes for lunch with a potential supplier of which the supplier encourages him to order as much as he wants and insists on paying at the end of the meal, what Brad should do in this situation is to offer to split the costs of the meal.

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An increase in the expected price level shifts a. the short-run aggregate supply curve to the left but does not affect the long-run aggregate supply curve. b. the long-run aggregate supply curve to the left but does not affect the short-run aggregate supply curve. c. neither the long-run aggregate supply curve nor the short-run aggregate supply curve to the left. d. both the short-run and long-run aggregate supply curves to the left.

Answers

When there is an increase in the expected price level, it will shift a. the short-run aggregate supply curve to the left but does not affect the long-run aggregate supply curve.

What happens when there is an increase in expected price level?

The increase in expected price level will lead to the short run aggregate supply curve shifting to the left.

This is because suppliers will reduce supply so that they can make more profit when the prices rise in the immediate future. The long run aggregate supply curve will not be affected because supply would normalize eventually.

In conclusion, option A is correct.

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The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:

Accounts Debits Credits
Cash $4,000
Accounts Receivable 9,000
Supplies 3,000
Equipment 26,000
Accumulated Depreciation $6,000
Accounts Payable 4,000
Utilities Payable 5,000
Deferred Revenue 0
Common Stock 18,000
Retained Earnings 9,000
Totals $42,000 $42,000

The following is a summary of the transactions for the year:

1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.
2. March 13 Collect on accounts receivable, $48,000.
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
4. June 30 Pay salaries for the current year, $32,000.
5. September 15 Pay utilities of $5,000 from 2020 (prior year).
6. November 24 Receive cash in advance from customers, $8,000.
7. December 30 Pay $2,000 cash dividends to stockholders.

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $6,000. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,000.

Required:
Complete the full accounting cycle.

Answers

Answer:

1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.

Dr Cash 15,000

Dr Accounts receivable 60,000

    Cr Service revenue 75,000

2. March 13 Collect on accounts receivable, $48,000.

Dr Cash 48,000

    Cr Accounts receivable 48,000

3. May 6 Issue shares of common stock in exchange for $10,000 cash.

Dr Cash 10,000

    Cr Common stock 10,000

4. June 30 Pay salaries for the current year, $32,000.

Dr Wages expense 32,000

    Cr Cash 32,000

5. September 15 Pay utilities of $5,000 from 2020 (prior year).

Dr Utilities payable 5,000

    Cr Cash 5,000

6. November 24 Receive cash in advance from customers, $8,000.

Dr Cash 8,000

    Cr Unearned revenue 8,000

7. December 30 Pay $2,000 cash dividends to stockholders.

Dr Dividends 2,000

    Cr Cash 2,000

Adjusting entries:

Depreciation for the year on the machinery is $6,000.

Dr Depreciation expense 6,000

    Cr Accumulated depreciation 6,000

Plumbing supplies remaining on hand at the end of the year equal $1,000.

Dr Supplies expense 2,000

    Cr Supplies 2,000

Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year.

Dr Unearned revenue 6,000

    Cr Service revenue 6,000

Accrued utilities at year-end amounted to $7,000.

Dr Utilities expense 7,000

    Cr Utilities payable 7,000

Pipers Plumbing

Trial balance

For the year ended December 31, 2021

                                                              debit            credit

Cash                                                  $46,000

Accounts Receivable                        $21,000

Supplies                                               $1,000

Equipment                                        $26,000  

Accumulated Depreciation                                    $12,000

Accounts Payable                                                    $4,000

Utilities payable                                                        $7,000

Deferred Revenue                                                   $2,000

Common Stock                                                      $28,000

Retained Earnings                                                   $9,000

Service revenue                                                     $81,000

Wages expense                                 $32,000

Depreciation expense                         $6,000

Supplies expense                                $2,000

Utilities expense                                  $7,000

Dividends                                            $2,000                      

Totals                                                $143,000     $143,000

Pipers Plumbing

Income statement

For the year ended December 31, 2021

Service revenue                                                     $81,000

Wages expense $32,000Depreciation expense $6,000Supplies expense $2,000Utilities expense $7,000                             ($47,000)

Net income                                                            $34,000

Pipers Plumbing

Retained Earnings Statement

For the year ended December 31, 2021

Beginning balance January 1, 2021          $9,000

Net income                                              $34,000

Subtotal                                                    $43,000

Dividends                                                 ($2,000)

Ending balance December 31, 2021       $41,000

Pipers Plumbing

Balance Sheet

For the year ended December 31, 2021

Assets:

Cash $46,000

Accounts Receivable $21,000

Supplies $1,000

Equipment, net $14,000  

Total assets                                        $82,000

Liabilities:

Accounts Payable $4,000

Utilities payable $7,000

Deferred Revenue $2,000

Total liabilities                                     $13,000

Stockholders' Equity

Common Stock $28,000

Retained Earnings $41,000

Total stockholders' equity                 $69,000

Total liabilities + equity                      $82,000

NEED HELP ASAP!! 30 points AND I WILL MARK YOU BRAINLIEST!!

1. How does the business cycle directly impact the level of employment within an economy? Please discuss how each part of the business cycle would directly impact the need to employ workers.

2. How does GDP represent the health of an economy? Please list two ways that a GDP is representative of the overall strength or weaknesses of an economy.

Answers

Answer:

1. How does the business cycle directly impact the level of employment within an economy? Please discuss how each part of the business cycle would directly impact the need to employ workers.

Business cycles are the "ups and downs" in economic activity, defined in terms of periods of expansion or recession. During expansions, the economy, measured by indicators like jobs, production, and sales, is growing--in real terms, after excluding the effects of inflation.

2. How does GDP represent the health of an economy? Please list two ways that a GDP is representative of the overall strength or weaknesses of an economy.

Gross domestic product (the GDP) tracks the health of a country's economy. It represents the value of all goods and services produced over a specific time period within a country's borders. Economists can use GDP to determine whether an economy is growing or experiencing a recession. Investors can use GDP to make investments decisions a bad economy means lower earnings and lower stock prices.

Explanation:

It's just like what lahh56camm said.

Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation system, product A has been assigned overhead of $21.86 per unit, while product B has been assigned $13.35 per unit. Management feels that an ABC system will provide a more accurate allocation of the overhead costs and has collected the following cost pool and cost driver information:

Cost Pools Activity Costs Cost Drivers Activity Driver Consumption
Machine setup $360,000 Setup hours 4,000
Materials handling 85,000 Pounds of materials 17,000
Electric power 50,000 Kilowatt-hours 25,000

The following cost information pertains to the production of A and B, just two of Hakara's many products:

A B
Number of units produced 4,000 10,000
Direct materials cost $39,000 $38,000
Direct labor cost $22,000 $27,000
Number of setup hours 100 200
Pounds of materials used 2,000 2,000
Kilowatt-hours 2,000 4,000

Required:
Use activity-based costing to determine a unit cost for each product.

Answers

Answer:

Unitary cost A= $21

Unitary cost B= $10.1

Explanation:

First, we need to calculate the predetermined overhead rate for each activity:

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

Machine setup= 360,000/4,000= $90 per setup hour

Materials handling= 85,000/17,000= $5 per pound

Electric power= 50,000/25,000= $2 per killowat

Now, we can allocate overhead to each product:

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

Product A:

Machine setup= 90*100= $9,000

Materials handling= 5*2,000= $10,000

Electric power= 2*2,000= $4,000

Total= $23,000

Product B:

Machine setup= 90*200= $18,000

Materials handling= 5*2,000= $10,000

Electric power= 2*4,000= $8,000

Total= $36,000

Finally, the total cost and unitary cost:

Product A:

Total cost= 39,000 + 22,000 + 23,000= $84,000

Unitary cost= 84,000/4,000= $21

Product B:

Total cost= 38,000 + 27,000 + 36,000= $101,000

Unitary cost= 101,000/10,000= $10.1

Suppose you interview someone for the job of receptionist. He or she makes this statement: "I am usually in a very good mood. I consider myself to be upbeat and optimistic Which element of individual behavior might this predict, and would this be important for the job as described? a. Selective perception; unimportant for job b. Machiavellianism; unimportant for job c. Positive affectivity; important for job d. Low openness; important for job

Answers

The element of individual behavior that can be predicted when interviewing the person is C. Positive affectivity; important for job.

What is a behavior?

It should be noted that a behavior simply means the traits that are exhibited by an individual.

In this case, the element of individual behavior that can be predicted when interviewing the person is "positive affectivity; important for job. This is needed as a receptionist.

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Based on your understanding of the impact of macroeconomic factors, identify which of the following statements is true or false.

a. The larger the federal deficit, other things held constant, the higher are interest rates.
b. If the Fed injects a huge amount of money in the markets, inflation is expected to decline, and long-term interest rates are expected to rise.
c. In November 2008, the yields on U.S. Treasuries were actually negative. This means that investors were willing to lose money on their investment in U.S.
d. Treasuries as long as most of their invested capital was safe.
e. The Federal Reserve’s ability to use monetary policy to control economic activity in the United States is limited because U.S. interest rates are highly dependent on interest rates in other parts of the world.

Answers

Answer and Explanation:

1. True: money supply increase is inversely relayed to short term in5st rates which begin to fall

2. True: there is an increase in price of treasury securities here because of high demand of safe securities such as this. Therefore the interest which is constant is not equal increase in price

3. False: increase in interest will decrease money supply. money supply is increased to boost economy

4. True: other interest rates affect us interest rates

Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures

Answers

Answer:

               

Explanation:

Lorenzo Peterson was swimming in a swimming pool with a friend at an apartment com­plex. Lorenzo watched his friend swim to the bottom of the pool, slide an unattached drain cover away, and then slide it back. Lorenzo thought his friend had hid­den something inside the drain, so he swam to the bot­tom of the pool. Lorenzo slid the drain cover aside and stuck his arm inside the drain. The 300 to 400 pounds of pull of the drain pump held Lorenzo trapped under­water. At least seven people tried to free Lorenzo to no avail. When the police arrived, they broke down the door to the pool equipment room and turned off the drain pump.Lorenzo was trapped underwater for twelve minutes, which left him irreversibly brain damaged. Evidence at trial showed that Sta-Rite's drain covers are designed to screw down, but often a drain cover becomes loose. Further evidence showed that there had been more than 20 prior suction-entrapment accidents involving Sta-Rite's drain covers and pumps. Evidence showed that others had designed a pool drain pump with a mechanism that would automatically shut off a pool drain pump when it detected that it was pulling more than it should. Sta-Rite did not install such safety fea­tures on its drain pumps, however.Lorenzo, through his relatives, sued Sta-Rite Indus­tries, Inc., the manufacturer of the drain, under the doctrine of strict liability to recover damages for Loren­zo's injuries. The plaintiff alleged that the underwater pool drain was designed defectively because it did not contain a shut-off mechanism. Sta-Rite Industries, Inc. v. Peterson, 837 So.2d 988, 2003 Fla. App. Lexis 1673 (Court of Appeal of Florida, 2003)1. Is there a design defect?2. Did Sta-Rite Industries meet its ethical duty?3. Should Sta-Rite be assessed punitive damages be­cause it knew there were more than 20 prior suction-entrapment accidents?

Answers

Answer: See explanation

Explanation:

1. Yes.

A design defect is when the design for a particular product brings about risk or injury which could have been averted if the design was done in another way.

With regard to the question, there is a design defect as we're informed that the drain cover becomes loose and we're further told that Sta-Rite did not install safety fea­tures on its drain pumps.

2. No.

Based on the scenario in the question, the ethical duty wasn't met by Sta-Rite Industries. They neglected the potential injury and harm that their design would cause. This means that they didn't perform their ethical duty well.

3. Yes.

In this case, Sta-Rite has to compensate the affected person and a punitive damage should further be added to whatever compensation had been put in place. This will serve as a way of making others also learn and always do the right thing and be safety conscious.

Activity-based Costing—Comprehensive Problem [lo 2] The Riverdale Printing Company prints limited edition art books with production runs of 15,000 to 100,000. It has recently adopted an activity-based costing system to assign manufacturing overhead to products. The following data relate to one product, Art of Design, and the ABC cost pools:
Art of Design:
Annual production 40,000 units
Direct materials $37
Direct labor per unit $8
Manufacturing overhead
cost pools Cost Pool Cost Driver $ 840,000
Materials ordering $840,00 Number of purchase orders
Materials inspection 525,000 Number of receiving reports
Equipment setup 2,500,000 Number of setups
Quality control 1,000,000 Number of inspections
Other 25,000,000 Direct labor cost
Total manufacturing overhead
Annual activity information related to cost drivers:
Cost Pool All Books Art of Design
Materials ordering 120,000 orders 1,200
Materials inspection 2,100receiving reports 315
Equipment setup 125 setups 1
Quality control 5,000 inspections 500
Other $12,500,000 direct labour $320,000
a. Calculate the overhead rate per unit of activity for each of the five cost pools.
b. Calculate the total overhead assigned to the production of the Art of Design. Round to two decimal places.
c. Calculate the overhead cost per unit for the Art of Design.
d. Calculate the total unit cost for the Art of Design.
e. Suppose that Riverdale Printing allocates overhead by a traditional production volume-based method using direct labor dollars as the allocation base and one cost pool. Determine the over- head rate per direct labor dollar and the per unit overhead assigned to the Art of Design. Discuss the difference in cost allocations between the traditional method and the activity-based costing approach.

Answers

Answer:

Instructions are below.

Explanation:

a)

First, we need to calculate the activity rate for each activity:

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

Materials ordering= 840,000/121,200= $6.93 per order

Materials inspection= 525,000/2,415= $217.39 per report

Equipment setup= 2,500,000/126= $19,841.27 per setup

Quality control= 1,000,000/5,500= $181.82 per inspection

Other= 25,000,000/12,820,000= $1.95 per direct labor dollar

b)

Now, we can allocate overhead:

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

Materials ordering= 6.93*1,200= 8,316

Materials inspection= 217.39*315= 68,477.85

Equipment setup= 19,841.27*1= 19,841.27

Quality control= 181.82*500= 90,910

Other= 1.95*320,000= 624,000

Total allocated costs= $811,545.12

c)

Unitary overhead= 811,545.12/40,000= $20.30

d)

To calculate the unitary production cost, we need to use the following formula:

Total unitary cost= direct material + direct labor + allocated overhead

Total unitary cost= 37 + 8 + 20.3

Total unitary cost= $65.3

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

Predetermined manufacturing overhead rate= 29,865,000/12,820,000

Predetermined manufacturing overhead rate= $2.33 per direct labor costs

Allocated MOH= 2.33*320,000= $745,600

Unitary overhead= 745,600/40,000= $18.64

The difference between a plantwide predetermined overhead rate and an activity-based, is that the second one is more accurate. The allocation process is specific and more efficient.

Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July.

Work-in-Process Inventory, July 1 6,000 units
Transferred-in costs 94,900 won (100% complete)
added in July Direct materials 33,970 won (100% complete)
Conversion 46,880 won (80% complete)

During the month of July, 15,000 units were transferred in from the assembly department at the cost of 148,700 won, and the testing department added costs of 209,940 won, as follows:

Direct materials 96,440 won
Conversion 113,500 won

During the month, 18,000 units were completed and transferred to the warehouse. At July 31, the completion percentage of Work-in-Process was as follows:

Direct materials 90%
Conversion 60%

Required
Prepare the production cost report of the testing department for the month of July using weightedaverage process costing.

Answers

Question a)

The sum of the Total assets plus total fixed assets results in total assets.

Question b)

The division of Net sales over total assets results in Asset Turnover

Question c)

The subtraction of the cost of good sold from net sales is equal to the gross margin

Question d)

The subtraction of Operating expenses from gross margin results in the Net Operating profits, before the taxes.

Question e)

The subtraction of Taxes from Net Profit before tax results in Net profit after taxes

Question f)

The division of Net profit after tax over the Net saves gives you the Net profit margin percentage.

Question g)

The division of Net profit Margin percent over the asset turnover results in a return on assets.

Errors not detected by a trial balance

Answers

Answer:

There will be no effect on the Trial Balance if a transaction is totally excluded. An error of omission occurs when a transaction is fully unreported in both aspects, or when a transaction is documented in the books of primary entry but never entered in the ledger.

1. Errors of omission

2. Errors of Commission

3. Errors of Principle

4. Compensating Errors

5. Complete reversal errors

6. Transportation errors

7. Duplication errors

Answer:

The suspense account is the main method used to detect errors that cause discrepancies between the debit and credit balances of the trial balance.

Explanation:

Over the last 20 years several family breweries have sprung up, offering new beer products with unique characteristics. This has led to the availability of types of beers such as spontaneously fermented beers and speciality top fermented beers such as ales, white beers and Trappist beers. Trappist beers are top fermented beers and get their names from the places where they are produced namely in abbeys called Trappist monasteries. The beers are produced by monks of the Trappist order and marketed as authentic Trappist products. Tourists make an effort to visit these breweries to buy Trappist beers and to experience the unique culture of speciality beer. The Trappist beer companies need to consider what the future might offer, how this will affect the business and what resources and actions are necessary to prepare for it. This refers to the following management skill​

Answers

Answer:

manager

Explanation:

necessary to prepare for it. This refers to the following management skill

Kitto Electronics Data Kitto Electronics expects an EBIT of $200,000 for Year-1. EBIT is expected to grow at 6% thereafter. The tax rate is 25%. In order to support growth, Kitto must reinvest 20% of its EBIT in net operating assets. Kitto has $300,000 in 8% debt outstanding, and a similar company with no debt has a cost of equity of 11%. Refer to data for Kitto Electronics. Using the compressed adjusted present value model, what is the value of Kitto's tax shield

Answers

Assuming the cost of equity of 11%. Using the compressed adjusted present value model, the value of Kitto's tax shield is $120,000.

Value of Kitto's tax shield

Given:

EBIT=$200,000

rsU= 11%

Debt=$300,000

Tax rate(T)=25%

rd= 8%

EBIT retained= 20%

g=6%  

Using this formula

VTS = rdTD/(rsU − g)

Let plug in the formula

VTS = 0.08(0.25)($300,000)/(0.11 − 0.06)

VTS =$6,000/0.05

VTS = $120,000

Inconclusion the value of Kitto's tax shield is $120,000.

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Which option identifies the law represented in the following scenario?
Bauer comes out with a new hockey skate, and last year’s model sits on the shelves. The local hockey shop places last year’s model on sale for half price.


law of demand

law of diminishing marginal utility

law of supply and demand

law of supply

Answers

Answer:

A. law of demand

Explanation:

For an accountant, which of the following tasks is the most likely to be done
on spreadsheet software?
A. Performing mathematical formulas
B. Generating account numbers
C. Printing source documents
D. Purchasing bookkeeping systems
SUBMIT

Answers

Answer:

Performing mathematical formulas

Explanation:

APEX

What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?

Answers

Answer:

What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?

Explanation:

The circular flow model depicts how families and enterprises, as well as the marketplaces for resources and products and services, interact with one other and with other groups of economic decision-makers.

What is circular flow of income?

A model of the economy known as the circular flow of income or flow in which the primary exchanges are shown as flows of money, goods, and services, etc. between economic agents. In a closed circuit, the flows of money and items traded have values that are same but flow in the opposite direction. The circular flow analysis is the cornerstone of macroeconomics and national accounts.

Richard Cantillon's work already had the circular flow concept. In his so-called Tableau économique, François Quesnay elaborated and illustrated this idea.

The National Income and Product Accounts, for instance, use the concept of the circular flow of income to help better comprehend the economy as a whole (NIPAs).

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On October 1, 20X1, Bullseye Company sold 250,000 gallons of diesel fuel to Schmidt Co. at $3 per gallon. On November 8, 20X1, 150,000 gallons were delivered; on December 27, 20X1, another 50,000 gallons were delivered; and on January 15, 20X2, the remaining 50,000 gallons were delivered. Payment terms are 10% due on October 1, 20X1; 50% due on first delivery; 20% due on the next delivery; and the remaining 20% due on final delivery.

Required:
a. Do each of the three deliveries represent a distinct performance obligation, or is there a single performance obligation requiring three deliveries?
b. What amount of revenue should bullseye recognize from this sale during 2018?

Answers

a. There is a single performance obligation requiring three deliveries.

b. The amount of revenue should bullseye recognize from this sale during 2018 is $600,000.

Performance obligation

a. The single performance obligation requiring three deliveries is the delivering of  250,000 gallons of diesel fuel.

b. Revenue recognized

Delivering=3×250,000

Delivering=750,000

Revenue recognized=750,000×80%

Revenue recognized=$600,000

Inconclusion there is a single performance obligation requiring three deliveries and the amount of revenue should bullseye recognize from this sale during 2018 is $600,000.

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According to the law of supply, when prices increase, the quantity of suppliers create _____.

Answers

Answer:

increase

listening to the law when a supplier increases the price their supply increases the quality aswell!!

the answer would be increase for the blank spot

BioMorphs Corporation produces three products in a monthly joint production process. During the first stage of the process liquids and chemicals costing $60,000 are heated and three different compounds emerge: 3,000 gallons of Molecue worth $22 per gallon are created from the steam; 10,000 gallons of Borphue worth $15 are drained from the tank; and 1,000 gallons of the tank residue, labeled as Polygard, are sold as fertilizer for $5.50 per gallon. Before Molecue is sold, it must be purified in another process that costs $10,000, and before the Polygard fertilizer is sold, it must be bottled at a price of $1.50 per gallon.

Required:
a. What is the profitability of the joint process?
b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?
c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?

Answers

Answer:

a. What is the profitability of the joint process?

costs = -$60,000

Molecule = (3,000 gallons x $22) - $10,000 = $56,000

Borphue = 10,000 gallons x $15 = $150,000

Polygard = 1,000 gallons x ($5.50 - $1.50) = $4,000

total revenue = $56 + $150 + $4 - $60 = $150,000

b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?

it is more profitable further process Molecule since you will spend $10,000, but you will add $39,000 more than just selling it at the split-off point.

c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?

BioMorphs will lose = $3,400 - $4,000 = ($700) if it accepts this offer.

Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $124,916. Carlise has identified the following information about its overhead activity cost pools and the two product lines:

Activity Cost Pools Cost Driver Cost Assigned to Pool Quantity/Amount Consumed by Indoor Line Quantity/Amount Consumed by Outdoor Line
Materials handling Number of moves $18,236 570 moves 370 moves
Quality control Number of inspections $77,420 5,600 inspections 4,200 inspections
Machine maintenance Number of machine hours $29,260 27,000 machine hours 11,000 machine hours

Required:
Suppose Carlise used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.

Answers

Answer:

For indoor = $88,756

For outdoor = $72,666

Explanation:

The computation of the amount of overhead assigned to each product line is given below:-

Traditional Costing

                                 Machine Hours             Overhead Assigned

Indoor Model                  27,000                         88,756    

                                                   ($124,916 ÷ 38,000) × 27,000

Outdoor Model              11,000                           72,666

                                                   ($124,916 ÷ 38,000) × 11,000

Total                              38,000                          $161,442

Orange Inc., an orange juice producer with a current debt-to-equity ratio of 2, is considering expanding its operations to produce toothpaste. Unsurprisingly, the toothpaste industry faces a different set of risks than the orange juice industry. However, the executives at Orange Inc. observe that Paste Inc., a toothpaste company, has a cost of equity of 12%, a cost of debt of 6%, and a debt-to-value ratio of 40%. Orange Inc. plans to finance its expansion into toothpaste production with 50% debt and 50% equity. The cost of debt for Orange Inc. is also 6%, and the corporate tax rate is 25%.

Required:
Solve for the discount rate that Orange Inc. should use when evaluating whether to go forward with the expansion.

Answers

Answer:

8.25%

Explanation:

Orange, Inc. should calculate the MARR (minimum acceptable rate of return) for this project using the following:

Re = 12% (similar to Paste, Inc., so it can be considered the industry's average)

Rd = 6% x (1 - 25%) = 4.5%

MARR = (1/2 x 12%) + (1/2 x 4.5%) = 6% + 2.25% = 8.25%

This calculation is similar to calculating a company's WACC since you must determine the weighted cost of financing the project.

Match to the best answer. You will not use all the options and you cannot use the same option more than once. A. Risk-Return trade-off G. Crony capitalism F. Marginal benefit - Balance of payments H. Lorenz curve E. Scarcity - Marginal cost A. Safe investments make little money B. Change in total revenue C. CA+NX=0 D. Change in total cost E. When demand exceeds our ability to fulfill those demands F. Change in total benefit G. Capitalism characterized by a government-manipulated economy H. Represents actual distribution of income I. Property rights must be clearly defined and strictly enforced

Answers

Answer:

Terms matched to best answers, given below

Explanation:

Risk Return Trade off : Safe investments make little money

Crony capitalism : Capitalism characterized by a government-manipulated economy

Marginal Benefit : Change in Total Benefit

Balance of Payment : CA+NX=0

Lorenz Curve : Represents actual distribution of income

Scarcity : When demand exceeds our ability to fulfill those demands

Marginal Cost : Change in total cost

A__________can help you decide if you should buy or lease a new car.
a.
Diagram
c.
Flowchart
b.
Table
d.
Timeline


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

Probably A

Explanation:

Diagrams can show the depreciating value and stuff, B could also be the answer but not as good of one as A.

A flowchart can help you decide if you should buy or lease a new car. Option (c) is correct.

What do you mean by Diagram?

A diagram is a straightforward drawing that primarily comprises of lines and is used, for instance, to describe how a machine operates.

A flowchart is a diagram that shows a process' individual steps in their proper order. It is a general tool that may be customized for a wide range of uses and used to define a variety of processes, including a project plan, an administrative or service process, or a manufacturing process. There are four types of flowchart that is Document flowchart, Data flowchart, System flowchart, Program flowchart.

Therefore, Option (c) is correct. A flowchart can help you decide if you should buy or lease a new car.

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The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019.

a. Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year.
b. What is the difference in GDP between a growth rate of 2% and one of 3% over those 5 years?

Answers

Based on the compounding period and the amount of GDP, the following are true:

GDP in 5 years at 3% = $22,332.77 billion.GDP in 5 years at 2% = $$21,243.60 billion. The difference will be = $1,089.17 billion.

What is the GDP in 5 years at 3%?

Because this is GDP, it will be compounded continuously which means that the formula would be:

= Amount x e ^ (Rate x number of years)

= 19,222 x e⁰.⁰³ˣ⁵

= $22,332.77 billion

What is the GDP in 5 years at 2%?

= 19,222 x  e⁰.⁰²ˣ⁵

= $21,243.60 billion

What is the difference?

= 22,332.77 - 21,243.60

= $1,089.17 billion

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Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.

External Transaction Accounts Debit Credit
1. Pay cash dividends of $800 to stockholders. Cash 800
Dividends 800
2. Provide services on account for customers, $3,400. Cash 3,400
Service Revenue 3,400
3. Pay a $500 utilities bill for the current period. Utilities Expense 500
Cash 500
4. Receive cash of $400 from previously billed customers. Cash 400
Service Revenue 400
5. Pay for supplies previously purchased on account, $1,200. Supplies Expense 1,200
Cash 1,200

Required:
Provide a correct entry for each of the transactions classified as incorrect

Answers

Answer:

Crimson Tide Corporation

 Accounts Titles             Debit      Credit

1. Dividends                     $800

  Cash                                          $800

To record payment of dividends.

2. Accounts Receivable $3,400

   Service Revenue                     $3,400

To record provision of services on account.

3. correct

4. Cash                          $400

   Accounts Receivable                $400

To record the receipt of cash on account.

5. Accounts Payable    $1,200

   Cash                                           $1,200

To record payment on account.

Explanation:

The correct entries have been provided as above.  The first step in recording transactions in the journal is to recognize the accounts involved.  Then, identify which account is to be debited and which is to be credited, following basic accounting principle and based on the accounting equation of Assets = Liabilities + Equity.

what is durability of money

Answers

Answer:

Durability of money is such that it can be used over and over again; hence it must survive wear and tear for long periods. The qualities of good money are: General acceptability. Portability.

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