Answer:
Dr Work in Process Inventory 540
Cr Credit - Factory Overhead 540
Explanation:
Preparation of journal entry
Dr Work in Process Inventory 540
Cr Credit - Factory Overhead 540
Calculation for the Overhead assigned to this job
First step is to calculate the Predetermined overhead rate
Predetermined overhead rate =$20,000 ÷$100,000
Predetermined overhead rate =20%
Now let calculate Overhead assigned to this job
Overhead assigned to this job = $2,700 ×0.20 Overhead assigned to this job= $540
Therefore the journal entry is :
Dr Work in Process Inventory 540
Cr Credit - Factory Overhead 540
Marcy Company did not pay any dividends in 2004. In 2005, they declared and paid total dividends of $4,000, and in 2006, they declared total dividends of $20,000. How much dividends will be paid to preferred and common stockholders in 2006
Answer:
Dividends paid to preferred and common stockholders in 2006 will be :
Preferred stockholders get $20,000
Common stockholders get $0
Explanation:
Hie , I have attached the full question as an image below.
Preferred Stockholders received their dividends first before the common stockholders do. This is because the Preferred Equity have first preference when it comes to payments of dividends.
Also, when the dividends are cumulative, it means that the previous amounts of dividends not paid are payable in future when the distribution is made. Preference dividends are payable as a fixed amount of stocks outstanding during the reporting period.
That said, the amounts of dividends to be paid to preferred and common stockholders in 2006 can be calculated as follows :
2004
Dividends Declared = $0
Preference dividends Payable = ($100,000 + $250,000) × 6 % = $21,000
Paid to Common Shareholders = $ 0
2005
Dividends Declared = $4,000
Paid to Preference Shareholders = $4,000
Paid to Common Shareholders = $ 0
Payable to Preference Shareholders = $17,000 (2004) + $21,000 (2005) = $38,000
2006
Dividends Declared = $20,000
Paid to Preference Shareholders = $20,000
Paid to Common Shareholders = $ 0
Payable to Preference Shareholders = $18,000 (2005) + $21,000 (2006) = $39,000
"Tom, at Bode Corporation we align our individual goals with the company's goals.
That is, as managers, we use
to drive ourselves and our employees
to accomplish key goals that are linked with the company's success," said Tom's new
CEO.
remuneration
contingency management
quantitative management
management by objective
time-and-motion studies
Strengths and weaknesses Group of answer choices should be kept confidential. are areas of high and low capability. relate to the external environment. are an outcome of strategic implementation.
Answer: are areas of high and low capability.
Explanation:
Strength and weakness are areas of high and low capability. Some examples of the strengths that an organization has include large market share, strong employee attitudes, economies of scale, hug integrity etc. These gives an organization an edge over its rivals.
The weakness of an organization makes such organization lag behind its rivals.
An investment is expected to yield $300 in three years, $500 in five years, and $300 in seven years. What is the present value of this investment if our opportunity rate is 5%
Answer:
Total PV= $864.11
Explanation:
Giving the following information:
Cash flows:
Cf3= $300
Cf5= $500
Cf7= $300
Opportunity rate= 5%
To calculate the total present value, we need to use the following formula on each cash flow:
PV= FV/(1+i)^n
PV1= 300/(1.05^3)= 259.15
PV2= 500/(1.05^5)= 391.76
PV3= 300/(1.05^7)= 213.20
Total PV= $864.11
What nominal return was received by an investor when inflation averaged 3.46% and the real rate of return was 2.5%
Answer:
Nominal rate of return= 0.0596 = 5.96%
Explanation:
Giving the following information:
Inflation averaged 3.46%
The real rate of return was 2.5%
To calculate the nominal rate of return, we need to use the following formula:
Real rate of return= nominal rate of return - inflation rate
Nominal rate of return= real rate of retunr + infaltion rate
Nominal rate of return= 0.0346 + 0.025
Nominal rate of return= 0.0596 = 5.96%
If Malaland exports $51 billion in goods to Bursia, and Malaland imports $34 billion of goods from Bursia , what is the goods trade balance for Malaland
Answer:
$17 billion
Explanation:
Calculation for what is the goods trade balance for Malaland
Using this formula
Goods trade balance=Exports goods- Imports goods
Let plug in the formula
Goods trade balance=$51 billion- $34 billion
Goods trade balance=$17 billion
Therefore the goods trade balance for Malaland will be $17 billion
P&G sells cosmetics, laundry detergent, and products like Pringles to the ________ market by establishing strong brand images, developing superior products, ensuring their availability, and backing them with engaging communications and reliable performance"
Answer:
Consumer
Explanation:
A consumer market is simply defined as all the individuals and households who gets or purchase and acquire goods and services.
A Consumer is simply an individual who see, knows or is able to identifies a need or desire, thereafter buy the product and then disposes of the product during the three stages of the consumption process.
Determine the number of cycles per day and the production quantity per cycle for this set of vehicles: Product Daily Quantity A 18 B 16 C 4 D 16
Answer:
The Number of cycles is 4
Product Daily Quantity Daily Unit per cycle
A 18 18/4 = 4.5 units
B 16 16/4 = 4 units
C 4 4/4 = 1 unit
D 16 16/4 = 4 units
Compare the development of clustered rural settlements with dispersed rural settlements. In your paragraph, consider each of the following:
explanation or description of each advantages or purpose of such a community one specific example of its use.
Answer:
Dispersed settlement are simplex and uncommon while the compacted are common and densely populated.
Explanation:
The dispersed rural settlements are called scattered settlements, they are spread out in the entire area. The clustered settlements are nucleated or compact in nature and are closely build up houses. The dispersed settlements are found along the tree lines, rivers, ponds and are sparsely populated. They are small groups of buildings ad are popular in the mid-west US. The clustered settlements are closely knitted and represent geometric patterns such as rectangular, radial, and linear. They are densely populated.Smith buys and sells securities. On December 15, 2018, Smith purchased $548,000 of Jones shares and elected the fair value option to account for the Jones investment. As of December 31, 2018, the Jones shares had a fair value of $594,000. In the 2018 financial statements, Smith will report (ignore taxes):
Answer:
Investment income of $46,000 in its income statement
Explanation:
Calculation for the amount that Smith will report in the 2018 financial statements,
Investment income =Fair value of $594,000-Purchased $548,000
Investment income =$46,000
Therefore Smith will report investment income of $46000 in its 2018 financial statements,
What is the standard deviation of returns of a portfolio that produced returns of 10%, 15%, 25%, and 30%
35404550556066707780
(True) or (False)? Accumulated depreciation is recorded as a contra expense account on the income statement, and the depreciation expense is recorded as an asset on the balance sheet.
Answer:
false
Explanation:
Depreciation is the reduction in the value of an asset. It is recorded as an expense on the income statement.
Accumulated depreciation is the sum of depreciation over a time period. It is recorded as a contra asset on the balance sheet
The Lion Incorporated is currently going bankrupt and is a subsidiary of the Dorothy Ltd. The CFO of the Dorothy Ltd is preparing consolidating statements for a listing of the company on the French stock exchange. She does not include in consolidation the Lion Company, saying Lion does not have and is not in the process of having debt or equity instruments that are publically traded. The CFO is:
Answer: In compliance with the IFRS
Explanation:
Based on the information given in the question, we can say that the CFO is in compliance with the IFRS. IFRS Standards are typically used by accountable entities. We should note that even though IFRS Standards are normally permitted, it is not required for every accountable entities.
In the scenario in the question, we are informed that the CFO does not include in consolidation the Lion Company, saying Lion does not have and is not in the process of having debt or equity instruments that are publically traded. In this case, the CFO is in compliance with the IFRS.
c. Suppose that the total amount to be paid under the contract with the city is estimated at $14,000 but may be adjusted to $12,000 next year during the review of the city budget. What amount from the contract, if any, should Brown Thumb recognize as income this year
Answer:
$14,000
Explanation:
The amount that should reported as the income for this year is $14,000 as if he takes the other amount so he wants to adjust the amount in order to reconcile the real amount of income
So as per the given situation this year amount i.e. $14,000 would be considered and the other amount i.e. $12,000 would be ignored
SO the same is to be relevant
The shareholders' equity of Green Corporation includes $398,000 of $1 par common stock and $580,000 par of 7% cumulative preferred stock. The board of directors of Green declared cash dividends of $68,000 in 2018 after paying $38,000 cash dividends in each of 2017 and 2016. What is the amount of dividends common shareholders will receive in 2018
Answer:
$22,200
Explanation:
The computation of the dividend amount made to the common shareholders is shown below:
Arrear in Preferred Stock Dividend is
= $580,000 × 7% × 2 - $38,000 - $38,000
= $5,200
Now
Current Preferred Stock Dividend is
= $580,000 × 7%
= $40,600
Now
The amount of dividends made to the common shareholders is
= $68,000 - $40,600 - $5,200
= $22,200
the Quality Control element most directly related to assuring that the company has sufficient personnel with needed competence, capabilities, and commitment is
Answer:
Human resources (HR).
Explanation:
The Quality Control element most directly related to assuring that the company has sufficient personnel with needed competence, capabilities, and commitment is Human resources (HR).
Human resources (HR) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.
Hence, human resources managers are saddled with the responsibility of managing and improving the welfare and working conditions of the employees working in an organization.
What are some of the advantages and disadvantages of a) individuals as innovators, b) firms as innovators, c) universities as innovators, d) government institutions as innovators, e) nonprofit organizations as innovators
Answer:
a. Individuals as innovators
Advantages
1. Individuals have no limits (no hard rules) as to whom they can sell their innovation to.
2. An individual can be able lead a successful career with their innovation is any company
Disadvantages
1. Capital is a major limit for most individuals who may not be able to market their innovations.
2. Lack of Knowledge in Patenting innovation ideas have led to most individuals losing their innovation to others.
b. firms as innovators
Advantages
1. Successful innovation can help a firm improve its processes and increase its revenues.
2. Innovation in a unique product can often lead a firm to monopoly as the product becomes a necessity
Disadvantages
1. Firms have more rivalry such that others can copy the innovation or produce another close substitute which can render all efforts to a loss.
2.It takes so much time for the innovation to be approved in a firm as some structures of authority have to be followed and also depending on the culture of the firm towards innovation.
c. universities as innovators
Advantages
1. Universities are better able to raise capital through the Research Funds granted to them by stakeholders.
2. Innovation increases a University`s reputation and improves it rankings.
Disadvantages
1. High dependence on government agencies for funding by Universities means Innovation successes are easily affected by the fiscus.
2. Universities are not effective at marketing Innovations on their own.
d. government institutions as innovators
Advantages
1. The government can increase revenue by improving processes and cutting costs.
2. Innovation can improve transparency and help improve governance and administration.
Disadvantages
1. Adoption of innovation is usually slow as it has to pass so much bureaucracy.
2. Most personnel prefer working in private institutions hence the personnel to drive innovation in governments may be unavailable or inadequate
e. nonprofit organizations as innovators
Advantages
1. There is so much option for funding of innovations ranging from Individuals, Companies and Government
2. Most innovations are driven by Human Need hence their increased success.
Disadvantages
1. The innovation may not be able to generate the revenue to cover the costs.
2. The organizations are usually lacking personal's to drive innovations as people prefer to be paid more for their work.
Explanation:
Innovation is defined as the creation, development and implementation of a new product, process or service. The aim of innovation is to improve efficiency, effectiveness or competitive advantage. Innovation presents advantages and disadvantages to various players as listed above.
What amount is recorded for a nonmonetary asset acquired in exchange for another nonmonetary asset when the exchange has commercial substance
Answer:
The fair value of the asset given up, with a gain or loss recognized.
Explanation:
In Financial accounting, Accounts Receivable are considered to be a current asset because it is the payment a business firm would receive from its customers for goods purchased or services taken on credit. Also, accounts receivable are recorded in the current assets section of the balance sheet because they add value to a business firm.
Generally, current assets are considered to be liquid because they are listed on the balance sheet in the order (descending) in which they are expected to turn or be converted to cash within a relatively short term period.
The amount recorded for a nonmonetary asset acquired in exchange for another nonmonetary asset when the exchange has commercial substance is the fair value of the asset given up, with a gain or loss recognized.
Additionally, the par value of an asset such as a bond is its face value and it comprises of its total dollar amount as well as its maturity value. Also, the par value of a bond gives the basis on which periodic interest is paid.
A bond is issued at par value when the market rate of interest is the same as the contract rate of interest. This simply means that, a bond would be issued at par (face) value when the bond's stated rated is significantly equal to the effective or market interest rate on the specific date it was issued.
g explain which types of organizations (if any) will traditional HRM fit most and which types of organizations (if any) will strategic HRM fit most
Answer:
HR Function refers to areas such as recruitment, selection, recruitment and retention, performance evaluation, promotional preparing, and reimbursement managerial staff.
Explanation:
Throughout traditional HRM every one of these operations has been associated with capacity building and therefore are constrained even within the HR manager. Those other operations are not focused on an organization’s strategy.Traditional HRM is therefore not focused on effective organizational culture, while strategy Implementation focuses on its philosophy.Assume you could either open a lemonade stand near a college campus and sell 80 cups of lemonade for $.50 per cup in one day or open a stand selling brownies and sell 50 brownies in one day for $1 each. In terms of dollars, what would be your opportunity cost of selling lemonade for one day
Answer:
$50
Explanation:
which factor plays the biggest role in motivating economic decisions in a traditional economy?
Answer:
These are the answer choices for the question:
A. Cooperation between governments and citizens
B. Commitment to maintaining long-standing customs
C. Corruption in the leadership of powerful groups
D. Competition between different businesses
And this is the correct answer choice:
B. Commitment to maintaining long-standing customs
Explanation:
Traditional economies are economies that have not yet industrialized, that tend to be small-scale, and that give great weight to traditions when taking economic decisions, precisely.
Examples of traditional economies can be seen in nomadic, semi-nomadic, and pastoralist peoples, who often lack enough economic complexity to become large populations with complex poltiical and economic institutions.
In these societies, economic decisions may be guided more by the insight of a leader, than by economic rationality per se, as long as the bare minimum needs for survival are met beforehand.
There are factors plays the biggest role in motivating economy decisions in a market economy. The factor is Competition between different businesses.
A traditional economy is known to be a type of economic system where local or traditions, customs, and beliefs help defines the goods and services the economy creates, and also rule and way of their distribution.
Countries often this type of economic system and they are said to be rural and farm-based. Examples includes nomadic, semi-nomadic, and pastoralist etc.
See answer choices below
A. Cooperation between governments and citizens
B. Commitment to maintaining long-standing customs
C. Corruption in the leadership of powerful groups
D. Competition between different businesses
Learn more about Economy from
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inventory g Ronald Homes purchased land for development for $2,500,000. The land will be parceled into lots and sold for vacation homes as follows: 10 lots (Type A) to sell for $100,000 each; 15 lots (Type B) to sell for $70,000 each; and 20 lots (Type C) to sell for $50,000 each. At what amount should Ronald Homes record the Type B lots
Answer:
Ronald Homes
The amount at which Ronald Homes should record Type B lots is $860,656 while each should be recorded at $57,377.
Explanation:
a) Data and Calculations:
Cost of land for development = $2,500,000
Land parceled into lots as follows:
Type A (10 lots) to sell for $100,000 each = $1,000,000
Type B (15 lots) to sell for $70,000 each = 1,050,000
Type C (20 lots) to sell for $50,000 each = 1,000,000
Total sales value = $3,050,000
Type A lots to be recorded at $1,000,000/$3,050,000 * $2,500,000
= $819,672
Type B lots to be recorded at: $1,050,000/$3,050,000 * $2,500,000
= $860,656
Type C lots to be recorded at $1,000,000/$3,050,000 * $2,500,000
= $819,672
n the industry and the community, Tri-State is known for its low-cost business strategy, but also as a company that is generous to its employees. After 100 years of successful operation, it now finds itself with a respected brand and a market share leader. Tri-State also prides itself on helping with school lunch programs in disadvantaged school districts. In the past, it has helped organizations like the Salvation Army and Red Cross when natural disasters occur across the United States, but this is on an as-needed basis. How would you classify Tri-State's social actions
Answer:
Tri-State's social actions would be classified as:
Corporate Social Responsibility.
Explanation:
Corporate Social Responsibility involves alignment or integration of the social and environmental concerns with the entity's operations and economic responsibilities for sustainable organizational development. It enables a business entity to remain relevant and accountable. Companies like Tri-State are increasingly trying to make a difference in their environments while building positive brand image by giving back to their community, taking active part in philanthrope, and providing positive social values.
The Impala Company issues $5,000,000, 7.8%, 20-year bonds to yield 8% on 1/1/16. Interest is paid on June 30 and December 31. The bonds sold for $4,901,036. Using straight-line amortization, compute the 12/31/18 carrying value of the bonds.
Answer:
carrying value at the end of 2018 = $4,915,880.60
Explanation:
the journal entry to record the sales of the bonds
Dr Cash 4,901,036
Dr Discount on bonds payable 98,964
Cr Bonds payable 5,000,000
Amortization of bond discount per year = $98,964 / 20 years = $4,948.20
Accumulated amortization for the first 3 years (2016, 2017, 2018) = $14,844.60
carrying value at the end of 2018 = $4,901,036 + $14,844.60 = $4,915,880.60
Uncollectible accounts are determined by the percent-of-sales method to be % of credit sales. How much is uncollectible-account expense for ?
Answer:
$1,160
Explanation:
Hie, I have attached the full question as an image below.
The firm usually makes provision for certain amounts so as not to overstate their profits. This expected as it is prudent than reporting profits that might never occur. Provisions of Uncollectible accounts are examples of such amounts.
An increase in Uncollectible amount compared to the opening balance is treated as an Expense in the Income Statement whilst a decrease is treated as an Income.
For this question, we are told that Uncollectible accounts are determined by the percent-of-sales method to be 4% of credit sales. Thus calculation of the 2012 uncollectible-account expense is as follows :
Credit Sales - 2012 = $44,000
Beginning Balance in allowances = $600
Therefore,
Uncollectable Amount (2012) = Credit Sales x percent-of-sales
= $44,000 x 4%
= $1,760
The Uncollectable amount has increased by $1,160 ($1,760 - $600)
Conclusion :
The collectible-account expense for 2012 is $1,160
Situation I On January 1, 2020, Bramble, Inc. signed a fixed-price contract to have Builder Associates construct a major plant facility at a cost of $4,446,000. It was estimated that it would take 3 years to complete the project. Also on January 1, 2020, to finance the construction cost, Bramble borrowed $4,446,000 payable in 10 annual installments of $444,600, plus interest at the rate of 10%. During 2020, Bramble made deposit and progress payments totaling $1,667,250 under the contract; the weighted-average amount of accumulated expenditures was $889,200 for the year. The excess borrowed funds were invested in short-term securities, from which Bramble realized investment income of $269,200. What amount should Bramble report as capitalized interest at December 31, 2020
Answer:
$88,920
Explanation:
capitalized interest = weighted average accumulated expenditure for the year x interest rate of the loan = $889,200 x 10% = $88,920
Capitalized interest can be added to the basis of the new building that is being constructed. This way, the building's depreciable value will increase.
Suppose the demand for apples becomes more elastic. All else equal, this means that the same change in price will result in
Answer:
a greater change in quantity demanded
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Seadrill Engineering licensed software to oil-drilling firms for 5 years. In addition to providing the software, the company also provides consulting services and support to ensure smooth operation of the software. The total transaction price is $420,000. Based on standalone values, the company estimates the consulting services and support have a value of $120,000 and the software license has a value of $300,000. Assuming the performance obligations are not interdependent, the journal entry to record the transaction includes:
a. a credit to Sales Revenue of $420,000.
b. a credit to Unearned Service Revenue of $120,000.
c. a credit to Sales Revenue for $300,000 and a credit to Unearned Service Revenue of $120,000.
d. a credit to Service Revenue of $120,000.
Answer:
c. a credit to Sales Revenue for $300,000 and a credit to Unearned Service Revenue of $120,000.
Explanation:
In the scenario of accepting money for an extended warranty/support service, the seller in the case has agrees to provide services in the future. The revenue is not earned until the earning process is substantially completed in the future. So the correct option is c.
If marginal business tax rates are decreased, how will aggregate supply and employment change in the long run
Answer:
If corporate tax rates decrease, this should shift the aggregate supply curve tot he right, increasing total quantity supplied and price level. An increase in the quantity supplied should eventually make that producers hire more workers, therefore, the unemployment rate should decrease.
Explanation:
When preparing a trial balance worksheet, what step would Tom complete next if he has already prepared a trial balance, adjusted entries and prepared an adjusted trial balance
Answer:
He must prepare the income statement.
Explanation:
The last entries of the trial balance are temporary accounts that belong to the income statement. Tom should focus on them after finishing the adjusted trial balance. After he prepares the income statement, then he can proceed to close all the temporary accounts and calculate retained earnings.