Answer:
1. $ 136,500
2. $70000
3. Medical market
Explanation:
1. Calculation to determine How much would the company's profits increase (decrease) if it implemented the advertising campaign in the MEDICAL MARKET
First is to calculate the sales
Sales = (400 000 + 70 000)
Sales = $470 000
Second step is to calculate the profit
Variable cost =$470 000 *65%
Variable cost=$305 500
Contribution =$470 000*35%
Contribution =$164,500
Fixed Expense= $28 000
Profit = $ 136,500
Now let calculate the Difference made by advertisement
Difference = 136500 - 120000
Difference=16500
2. Calculation to determine How much would the company's profits increase (decrease) if it implemented the advertising campaign in the
DENTAL MARKET
vcr Of The Dental market = 50%
Variable cost =50% $260 000
Variable cost = $130 000
Contribution = $130 000
Fixed expenses = $60 000
Profit = $70000
Now let determine difference made by the advertisement
Difference =(70000) - 48000
Difference= 22000
3. Based On the above calculation the markets I would recommend that the company focus its advertising campaign is medical market
On April 1, Holton Company borrows $100,000 from West Bank by signing a 6-month, 6%, interest-bearing note.
Prepare the necessary entries below associated with the note payable on the books of Holton Company.
(a) Prepare the entry on April 1 when the note was issued.
(b) Prepare any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements. Assume no other interest accrual entries have been made.
Answer:
A. Dr Cash $100,000
Cr Notes Payable $100,000
B. Dr Interest expense $1,500
Cr Interest Payable $1,500
Explanation:
a Preparation of the entry on April 1 when the note was issued.
Dr Cash $100,000
Cr Notes Payable $100,000
(To record note issued)
B. Preparation of any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements
Dr Interest expense $1,500
Cr Interest Payable $1,500
($100,000 x .06 x 3/12)
The total factory overhead for Big Light Company is budgeted for the year at $403,750. Big Light manufactures two different products - night lights and desk lamps. Night lights is budgeted for 30,000 units. Each night light requires 1/2 hour of direct labor. Desk lamps is budgeted for 40,000 units. Each desk lamp requires 2 hours of direct labor.
a. Determine the total number of budgeted direct labor hours for the year.
_________ direct labor hours
b. Determine the single plantwide factory overhead rate using direct labor hours as the allocation base. Round your answers to two decimal places, if necessary.
________$ per direct labor hour
c. Determine the factory overhead allocated per unit for each product using the single plantwide factory overhead rate calculated in (b). Round your answers to two decimal places, if necessary.
Night Lights _______$ per unit
Desk Lamps _______$ per unit
Answer:
a. Total number of budgeted direct labor hours for the year = Direct labor hours for night lights + Direct labor hours for desk lamps
= 30,000*1/2 + 40,000*2
= 15,000 + 80,000
= 95,000 hours
b. Single plant-wide factory overhead rate using direct labor hours = Budgeted factory overhead / Budgeted factory hours
= $403,750 / 95,000 hours
= $4.25 per hour
c. Per unit factory overhead = Number of hours required to complete one unit * Factory overhead rate per hour
Night light
Per unit factory overhead = 0.5 * 4.25
Per unit factory overhead = $2.125 per unit
Desk lamp
Per unit factory overhead = 2 * 4.25
Per unit factory overhead = $8.50 per unit
A vendor sells hot dogs at $17.00 /piece. For every hot dog he spends $11.23 in the raw material. Additionally he spends $0.90 for packing each hotdog and monthly $46.00, $25.00, $13.00 as food truck rent, electricity and other expenses respectively. How much is the vendor contributing to covering his fixed costs or generating profits
Answer: $4.87
Explanation:
The question is asking for the Contribution margin which is the amount left of the selling price after the variable costs have been deducted.
Contribution margin = Selling price - variable costs
= Selling price - Raw materials - packing costs
= 17 - 11.23 - 0.90
= $4.87
A computer manufacturer is producing a one-of-a-kind innovation called Innovel, a cloud computing software that helps navigate Internet content. While making the channel decision and finalizing the distribution arrangement, the manufacturer is keen on limiting the distribution of Innovel and gives only Techaven Inc. the rights to sell Innovel in that region. Techaven is known for its unique facilities and specialized inventories. In this case, the manufacturer is using the ________ arrangement of distribution.
Answer: exclusive
Explanation:
Exclusive distribution occurs when a manufacturer authorizes only one distributor to sells its product within a particular region. It should be noted that this distribution arrangement is typically used for premium and exclusive products.
Since the manufacturer is keen on limiting the distribution of Innovel and gives only Techaven Inc. the rights to sell Innovel in that region, the this is an exclusive arrangement of distribution.
Debbie promises to sell Brian a one of a kind baseball card for $1,000. Brian says that he does not have the money right now, but will have at it his next paycheck. Debbie gives Brian a signed written notice that the offer will stay open for two months. Does it the analysis change if Debbie is a merchant seller for this to be a firm offer under the UCC?
a. Yes, such offers are not reasonable.
b. Yes, such offers are voidable.
c. Yes, such offers are void.
d. Yes, the offeror must be a merchant, pursuant to the UCC definition of merchant.
e. Yes, such offers are only valid until the sun sets.
Answer:
d. Yes, the offeror must be a merchant, pursuant to the UCC definition of merchant.
Explanation:
The Uniform Commercial Code (UCC) establishes that firm offers can only be made by merchants. They also apply only to the sale of goods, but the baseball card is a type of good.
The problem is that Debbie is not probably a merchant. In order for her to be considered a merchant, she would need to be in the business of buying and selling baseball cards on a regular basis.
In the following MRP planning schedule for Item J, indicate the correct net requirements, planned order receipts, and planned order releases to meet the gross requirements. Lead time is one week.
WEEK NUMBER
ITEM J 0 1 2 3 4 5
Gross requirements 67 43 63
On-hand 46
Net requirements
Planned order receipt
Planned order release
Answer:
Planned order receipts
Item 3 - 55
Item 4 - 74
Planned order releases
Item 2 - 55
Item 3 - 74
Explanation:
Planned order receipts are the requirement for each item based on demand. Planned order releases is the finished goods processing time. When finished goods are ready, they are placed at warehouse for order dispatch.
On March 31, 2019, Brodie Corporation acquired bonds with a par value of $400,000 for $425,800. The bonds are due December 31, 2024, carry a 12% annual interest rate, pay interest on June 30 and December 31, and are being held to maturity. The accrued interest is included in the acquisition price of the bonds. Brodie uses straight-line amortization.Required: 1. Prepare journal entries for Brodie to record the purchase of the bonds and the first two interest receipts.
2. Next Level If Brodie failed to separately record the interest at acquisition, explain the errors that would occur in the company’s financial statements (no calculations are required).
Answer:
1. March 31, 2019
Dr Investment in held-to-maturity debt securities
$413800
Dr Interest income $12,000
Cr Cash $425800
2. June 30, 2019
Dr Cash $12,000
Cr Investment in held-to-maturity debt securities
$300
Cr Interest income $11700
3. December 31, 2019
Dr Cash $24000
Cr Investment in held-to-maturity debt securities
$600
Cr Interest income $23400
2. Assets overstated
Profit overstated
Explanation:
1. Preparation of the journal entries for Brodie to record the purchase of the bonds and the first two interest receipts.
1. March 31, 2019
Dr Investment in held-to-maturity debt securities
$413800
Dr Interest income $12,000
(400000*12%*3/12)
Cr Cash $425800
(To record the purchase of held-to-maturity securities)
2. June 30, 2019
Dr Cash $12,000
(400000*12%*3/12)
Cr Investment in held-to-maturity debt securities
$300
[($12,000/10)*3/12]
Cr Interest income $11700
($12,000-$300)
(To record the interest and amortization)
3. December 31, 2019
Dr Cash $24000
(400000*12%*6/12)
Cr Investment in held-to-maturity debt securities
$600
[($12,000/10)*6/12]
Cr Interest income $23400
($24,000-$600)
(To record the interest and amortization)
2. Based on the information given assuming Brodie failed to SEPARATELY RECORD THE INTEREST AT ACQUISITION, the errors that would occur in the company’s financial statements would be OVERSTATED ASSETS in the balance sheet and the PROFIT would as well be OVERSTATED.
Brandy’s Restaurant estimates that its total cost of providing Q meals per month is given by TC = 6,000 + 2 Q. If Brandy charges $4 per meal, what is its break-even level of output?
Answer: 3,000 meals
Explanation:
The 6,000 in this total cost formula represents the fixed costs of providing the Q meals per month.
The 2 represents the variable cost.
If a meal is $4, that means that the Contribution margin is:
= 4 - 2
= $2 per meal
The break-even level of output is:
= Fixed cost / Contribution margin per meal
= 6,000 / 2
= 3,000 meals
A student is deciding whether to take an additional class or work extra hours. Which amounts are relevant to this decision
Answer:
a. Out-of-pocket costs
c. opportunity costs
Explanation:
Out of pocket costs are those that have to be incurred by the student for having to take the additional classes if there are any. This needs to be considered as they are a cost that the student will need to pay for to take the classes and therefore might need budgeting.
Opportunity costs are the returns offered by the next best alternative to the current decision being taken. In other words, the student needs to consider what will happen if they pick additional class over work and vice versa.
Answer:
pocket and opportunity
Explanation:
A monopolistically competitive firm is currently producing 20 units of output. At this level of output the firm is charging the highest price it can at $20, has marginal revenue equal to $12, has marginal cost equal to $12, and has average total cost equal to $18. From this information we can infer that a. firms are likely to leave this market in the long run. b. the firm is currently maximizing its profit. c. the firm is earning zero profit. d. the profits of the firm are negative.
Answer:
Option b (the firm is currently maximizing its profit) is the right approach.
Explanation:
Given values are:
[tex]P=20[/tex][tex]Q=20[/tex][tex]ATC=18[/tex]Now,
The profit will be:
= [tex]P\times Q-(ATC\times Q)[/tex]
By substituting the values, we get
= [tex]20\times 20-18\times 20[/tex]
= [tex]400-360[/tex]
= [tex]40[/tex]
Thus, the above is the correct answer.
The Federal Reserve mandates banks and thrifts to deposit in their regional Federal Reserve Bank a fraction of their checkable deposits as:
Answer:
Required Reserves
Explanation:
Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.
Reserves is the total amount of a bank's deposit that is not given out as loans
Reserves = Deposits - outstanding loans
$100,000 - $70,000 = $30,000
there are 2 types of reserves
1. Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank
Required reserves = reserve requirement x deposits
0.2 x $100,000 = $20,000
2. Excess reserves is the difference between reserves and required reserves
$30,000 - $20,000 = $10,000
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter. If the required return is 12 percent, and the company just paid a dividend of $2.35, what is the current share price
Answer:
53.98
Explanation:
current share price is the present value of dividends
Year 1 = 2.35 x 1.22 = 2.867
Year 2 = 2.867 x 1.22 = 3.50
Year 3 = 3.50 x 1.22 = 4.27
+ 4.27 x 1.05 / (0.12 - 0.05) = 64
I - 12%
PV = 53.98
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
What is the value of Company X stock if the dividend next year will be $3 and is expected to grow at a rate of 4% forever if your required return is 10.74%
Answer:
PV= $44.51
Explanation:
Giving the following information:
Dividen 1= $3
Discount rate= 10.74% = 0.1074
Growth rate= 4% = 0.04
To calculate the price of the stock today, we need to use the following formula:
PV= D1 / (i - g)
PV= 3 / (0.1074 - 0.04)
PV= 3 / 0.0674
PV= $44.51
Depreciation, in accounting, is a process that results in: Multiple Choice an accurate measurement of the economic usefulness of an asset. depreciable assets being reported in the balance sheet at their fair value. accumulating cash for the replacement of the asset.
Answer:
spreading the cost of an asset over its useful life to the entity.
Explanation:
The depreciation is a non-cash expense that should be charged over the fixed assets i.e. land, buidling, car, etc
It is an expense so the same should be shown on the debit side of the income statement
Also the cost of an asset minus the salvage value divided by the useful life could be spreaded as the depredciation expense by using straight-line method
Indicate whether the following instruments are examples of money market or capital market securities.
a. U.S. Treasury bills
b. Long-term corporate bonds
c. Common stocks
d. Preferred stocks
e. Dealer commercial paper
Answer and Explanation:
In the Money Market Securities, it is treated as the short-term securities that means they are traded for short-term period i.e. less than one year. It has the less risk also the return is also very less but the liquidity is very rich. Examples - treasury bills, commercial papers etc
While on the other hand, the capital market securties are traded for the long term i.e. more than one year. It contains the high risk also the return is very high. Examples - stocks, bonds, debentures
So based on the above explanation, the classification is as follows
a. Money market securities
b. capital market securities
c. capital market securities
d. capital market securities
e. money market securities
A statement of cash flows helps answer all of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply What explains the changes in the cash account?unanswered Where does a company spends its cash?unanswered How can the company improve its operations?unanswered How does a company receives its cash?unanswered What are the changes in the non-cash accounts?
Answer:
What explains the changes in the cash account?Where does a company spends its cash?How does a company receive its cash?Explanation:
The Statement of Cash Flows shows the actual cash that a company has by showing the various places that cash comes in from and how cash leaves. It therefore shows how the cash account changes.
In showing how cash leaves the company, the statement shows how the company spends its cash and in showing how money comes in, the statement shows how the company receives its cash as well such as through investments in other companies and net income.
The Statement of Cash Flows depicts a company's actual cash flow by displaying where the money originates from and where it goes. As a result, it depicts the movement of the cash account.
The statement indicates how money left the company and how it gets in, such as through investments in other companies and net income.
So, Option A, B, and D are correct.
The other Options are incorrect as:
Option C is incorrect as a cash flow does not show how a company improves its operation it only shows the transactions.
Option E is incorrect as cash flow does not represent changes in noncash accounts as cash flow represents only cash transactions.
A cash flow is a physical or digital transfer of capital: a payment, notably from one central bank fund to another, is a cash flow in its restricted sense; the word 'cash flow' is primarily used to denote the transfer of funds from one central bank account to another.
Thus Options A, B, and D are correct statements for cash flow.
For more information about Cash Flow refer to the link:
https://brainly.com/question/10714011
You overhear a group of your co-workers laughing at some crude jokes about a few customers. Which of the following would you most likely do?
Answer: Tell your manager about this offensive behavior.
Explanation:
If I overhear a group of your co-workers laughing at some crude jokes about a few customers, the most likely thing for me to do will be to inform my manager about this offensive behavior.
Customers are vital to every business and should be treated right, without the customers, there isn't any business at all. Therefore, I'll inform my manager so that he'll have an idea of what is going on and then call them to order and explain to them that customers should be treated right and respected.
Over the past four years, Hashwari Corporation reported sales revenue and warranty expense as follows.
2016 2017 2018 2019
Sales revenue $5,000,000 $5,200,000 $5,382,000 $5,704,920
Warranty expense 105,200 104,100 118,500 108,400
We wish to reformulate the income statement to reflect a constant proportion of warranty expense to sales over the four-year period. What is our warranty expense adjustment for each year?
Answer:
Missing word "Average warranty to sales rate is 2.05%"
Adjusted expense and Adjustment required
2014 2015 2016 2017
Sales revenue $5,000,000 $5,200,000 $5,382,000 $5,704,920
Average warranty to sales rate 2.05% 2.05% 2.05% 2.05%
Adjusted warranty expense $102,500 $106,600 $110,331 $116,951
Actual warranty expense $105,200 $104,100 $118,500 $108,400
Adjustment required -$2,700 $2,500 -$8,169 $8,551
Rocky Guide Service provides guided 1–5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,600 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $160 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,600 per day and any bonus due are paid in one lump payment shortly after the end of each month.
On July 1, based on prior experience, Rocky estimated there is a 40% chance it will earn the bonus for July tours. It guided a total of 10 days from July 1–July 15.
On July 16, based on Rocky’s view that it had provided excellent service during the first part of the month, Rocky revised its estimate to an 90% chance it would earn the bonus for July tours. Rocky also guided customers for 15 days from July 16–July 31.
On August 5 Rocky learned it did not receive an average evaluation of "excellent" for its July tours, so it would not receive any bonus for July, and received all payment due for the July tours.
Rocky bases estimates of variable consideration on the expected value it expects to receive.
Required:
Prepare the journal entries to record the transactions above.
Answer:
Please find the complete question in the attached file.
Explanation:
Rocky believed there would be a [tex]30\%[/tex] possibility of a July bonus for touring, i.e [tex]< 50\%[/tex], from July 1-July 15 (10 days)-. Therefore no bonus can be calculated as [tex]\$2,400[/tex] / day trip \times 10 days =[tex]\$2,400[/tex] throughout this duration.
The expected 15-day revenues from 16th July – 31st July may well be calculated as [tex]\$2,400 \times 15 \ days = \$36.000.[/tex] Rocky calculated that it would get the bonus [tex]80\%[/tex] of the time. Estimates a [tex]\$240/day\ bonus \times (10\ days + 15\ days) = \$6,000[/tex]
Since graduating from college years ago, Dr. Nick Riviera has made deposits into his retirement fund on a basis in the amount of $. If his retirement fund has earned % interest compounded , how much has Nick accumulated in his retirement account?
Answer:
$280,971.79
Explanation:
Calculation to determine How much has Nick accumulated in his retirement account
Using Financial calculator
Amount Nick accumulated in his retirement account = FV(rate, nper, pmt, pv, type)
Where,
Monthly deposit = $130
Number of months = 40 * 12
Number of months= 480
Monthly interest rate = 6.3% /12
Let plug in the formula
Amount Nick accumulated in his retirement account = FV (6.3%/12, 480, -130, 0, 0)
Amount Nick accumulated in his retirement account = $280,971.79
Therefore the Amount Nick accumulated in his retirement account is $280,971.79
Which of the following statements from a hypothetical job advertisement is intended to develop interest in a job?
A) "You’ll thrive on challenging work."
B) "Ideal candidates will possess a four-year degree."
C) "Familiarity with various software applications is required."
D) "Responsibilities include event planning and relationship management."
Answer:
A) "You’ll thrive on challenging work."
Explanation:
Of the above options, the one that is most intended for an individual to develop interest in a job advertisement is the one that states that the candidate will have the opportunity to thrive in a challenging job.
Generally a potential candidate for a job is looking for a personal development opportunity through a job that will enable them to develop their skills and increase their knowledge, so when the ad makes it clear that the job is challenging but it will give the candidate opportunities prosper, this sounds like the ad that draws the most attention to a job opportunity that will add to the individual's life.
During June, Cisco Company produced 12,000 chainsaw blades. The standard quantity of material allowed per unit was 1.5 pounds of steel per blade at a standard cost of $8 per pound. The actual cost was $7 per pound. The actual pounds of steel that Cisco purchased were 19,500 pounds. All materials purchased were used. Calculate Cisco's materials usage variance.
Answer:
Direct material quantity variance= $12,000 unfavorable
Explanation:
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (1.5*12,000 - 19,500)*8
Direct material quantity variance= (18,000 - 19,500)*8
Direct material quantity variance= $12,000 unfavorable
Price Corp. is considering selling to a group of new customers and creating new annual sales of $90,000. Five percent will be uncollectible. The collection cost on all accounts is 3% of new sales, the cost of producing and selling is 80% of sales, and the firm is in the 30% tax bracket. What is the profit on new sales
Answer: $7,560
Explanation:
Before tax Profit = Net sales - Cost of production
Net sales = Sales collected - Cost of collection
= (90,000 * (1 - 5%)) - (90,000 * 3%)
= $82,800
Cost of production = 80% * 90,000
= $72,000
Before tax profit = 82,800 - 72,000
= $10,800
After tax profit = 10,800 * ( 1 - 30%)
= $7,560
Filer Manufacturing has 8,136,353 shares of common stock outstanding. The current share price is $26.75, and the book value per share is $5.85. Filer Manufacturing also has two bond issues outstanding. The first bond issue has a face value of $48,480,532, has a 0.05 coupon, matures in 10 years and sells for 83 percent of par. The second issue has a face value of $66,060,894, has a 0.06 coupon, matures in 20 years, and sells for 92 percent of par. The most recent dividend was $1.97 and the dividend growth rate is 0.04. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 0.26. What is Filer's aftertax cost of debt? Enter the answer with 4 decimals (e.g. 0.2345)
Answer:
Filer Manufacturing
Filer's after-tax cost of debt is:
= 4.1440%.
Explanation:
a) Data and Calculations:
Outstanding common stock shares = 8,136,353
Current share price = $26.75
Book value per share = $5.85
Tax rate = 0.26
Most recent dividend paid = $1.97 per share
Dividend growth rate = 0.04
Outstanding bond issues:
First Bond Second Bond Total
Face value of issue $48,480,532 $66,060,894 $114,541,426
Selling price 83% of par 92% of par
Sales price $40,238,842 $60,776,022 $101,014,864
Relative sizes 40% 60%
Coupon rate of first bond 0.05 0.06
Weighted average cost of bonds 0.02 0.036
Before-tax cost of bonds = 0.056
After-tax cost of bonds = 0.056 * (1 - 0.26) = 0.04144 = 4.1440%
Maturity period 10 years 20 years
Alfarsi Industries uses the net present value method to make investment decisions and requires a 15% annual return on all investments. The company is considering two different investments. Each require an initial investment of $15,300 and will produce cash flows as follows:
End of Year Investment
A B
1 $8,300 $0
2 8,300 0
3 8,300 24,900
The present value factors of $1 each year at 15% are: __________
Alex and Bess have been in partnership for many years. The partners, who share profits and losses on a 70:30 basis, respectively, wish to retire and have agreed to liquidate the business. Liquidation expenses are estimated to be $5,500. At the date the partnership ceases operations, the balance sheet is as follows:
Cash $48,000 Liabilities $36,000
Noncash assets 135,000 Alex, capital 94,500
Bess, capital 52,500
Total assets 183,000 Total liabilities and capital $ 183,000
Part A: Prepare journal entries for the following transactions:
Distributed safe cash payments to the partners.
Paid $21,600 of the partnership's liabilities.
Sold noncash assets for $147,000.
Distributed safe cash payments to the partners.
Paid remaining partnership liabilities of $14,400.
Paid $4,100 in liquidation expenses; no further expenses will be incurred.
Distributed remaining cash held by the business to the partners.
Part B: Prepare a final statement of partnership liquidation.
Answer:
Alex and Bess Partnership
Part A: Step-by-step Distribution:
Cash Noncash assets Liabilities Alex Bess
December 31 $48,000 $135,000 $36,000 $94,500 $52,500
Safe cash
distribution (26,400) 0 0 (18,480) (7,920)
1st Liabilities (21,600) 0 (21,600) 0 0
Sale of noncash 147,000 (135,000) 8,400 3,600
Safe cash distrib. (100,000) (70,000) (30,000)
Final liabilities (14,400) 0 (14,400) 0 0
Liquidation expense (4,100) 0 (2,870) (1,230)
Final distribution (28,500) 0 (11,550) (16,950)
Part B: Final Statement of Partnership Liquidation:
Cash Noncash assets Liabilities Alex Bess
December 31 $48,000 $135,000 $36,000 $94,500 $52,500
Sale of noncash 147,000 (135,000) 8,400 3,600
Payment of liabilities (36,000) (36,000)
Liquidation expenses (4,100) 0 (2,870) (1,230)
Distribution (154,900) 0 0 (100,030) (54,870)
Explanation:
a) Data and Calculations:
Profits and losses sharing ratio = 70:30
Estimated liquidation expenses = $5,500
Balance Sheet at Liquidation Date:
Cash $48,000 Liabilities $36,000
Noncash assets 135,000 Alex, capital 94,500
Bess, capital 52,500
Total assets 183,000 Total liabilities and capital $ 183,000
Howard Inc. had prepaid rent of $79,000 and $88,000 at the end of Year 1 and Year 2, respectively. During Year 2, Howard recorded $244,000 in rent expense in its income statement. Cash outflows for rent in Year 2 were:
Answer:
the Cash outflows for rent in Year 2 is $253,000
Explanation:
The computation of the Cash outflows for rent in Year 2 is shown below:
Prepaid rent at year 2 $88,000
Add: rent expense $244,000
Less: prepaid rent in year 1 -$79,000
Cash outflows for rent in year 2 $253,000
Hence, the Cash outflows for rent in Year 2 is $253,000
Consider the following project network and activity times (in weeks): Activity A B C D E F G H Time 5 3 7 6 7 3 10 8 How much time will be needed to complete this project
Answer:
Please find the attached file of the complete question:
Explanation:
Please find the attached file of the solution:
Critical Path: ACH
Duration: 21
Because C is on the Critical Path, it cannot be postponed without causing the project to be delayed.
E is not on the critical path, thus it may also be delayed by two weeks without causing the project to be delayed.
[tex]D : ES : 6, EF : 10, LS : 7, LF : 11[/tex]
The following information is available regarding the total manufacturing overhead of Molsen Company for a recent four-month period. Molsen's projected August operations will require approximately 110,000 machine hours. Using the high-low method, compute total manufacturing overhead estimated for August. Group of answer choices $177,500. $187,500. $197,500. $198,000.
Answer:
$198,000
Explanation:
Calculation to determine what the total manufacturing overhead estimated for August is
First step is to calculate the Variable element
Variable element=($198,000 - $153,000)/(110,000 - 80,000)
Variable element=$45,000/30,000
Variable element= $1.50
Second step is to calculate the Fixed element
Fixed element=$198,000 - ($1.50 x 110,000)
Fixed element=$198,000-$165,000
Fixed element = $33,000
Now let compute total manufacturing overhead
Total manufacturing overhead=$33,000 + ($1.50 x 110,000)
Total manufacturing overhead=$33,000+$165,000
Total manufacturing overhead= $198,000
Therefore Using the high-low method, compute total manufacturing overhead estimated for August is $198,000
Allen Green is a single taxpayer with an AGI (and modified AGI) of $214,000, which includes $172,000 of salary, $26,200 of interest income, $10,400 of dividends, and $5,400 of long-term capital gains. What is Allen's net investment income tax liability this year, rounded to the nearest whole dollar amount
Answer:
$532
Explanation:
The income that is considered for NIIT is the (a) lesser of the net investment income or (b) the amount by which MAGI exceeds the applicable threshold.
a. $42,000 ($26,200 interest income + $10,400 dividends + $5,400 Long-term capital gains)
b. $14,000 ($214,000 - $200,000)
Note: MAGI threshold of $200,000 for single taxpayer is applicable before they fall under the NIIT bracket of 3.8% of tax.
Net Investment Income = $14,000
Net investment income tax liability = Net Investment Income * 3.8%
Net investment income tax liability = $14,000 * 3.8%
Net investment income tax liability = $532
So, Allen's net investment income tax liability this year is $532.