Answer:
Dr Factory Overhead $29,200
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
Explanation:
Preparation of the entry to record the factory overhead incurred during May.
Dr Factory Overhead $29,200
($8,800 + $6,600 + $4,800 + $9,000)
Cr Materials 8800
Cr Wages payable 6600 Cr Utilities Payable 4800
Cr Accumulated Depreciation-Factory 9000
(To record the factory overhead incurred during May)
Prepare a memo to management recommending data storage, input and output devices, networking equipment, and how the Systems Development Life Cycle (SDLC) can be used to analyze, plan, and document systems changes.
Answer:
Following are the response to the given question:
Explanation:
Many previous studies are published about the methods, technologies for successful system implementation of distinct SDLC s development cycles. Not only technical activities but also design, process improvement, user experience, social democracy, user effect, and proper security procedures. The SDLC is an element of the process and installs programs. These complex life-cycles of knowledge management are addressed by books like David Identify factors that contribute & Guy Fitzgerald's Information System Developments and Alan Daniels as well as Don Yeats's Fundamental Systems Design.
This paper offers a comprehensive background, description, stages, advantages, and risks, along with methods supporting the life cycle of system development.
We first have to define the systems to understand the notion of a life cycle of the system development. A system is an element of IT - hardware, programming, or a mix of both. Each program is designed from initial planning to disposal via a development cycle. To avoid costly errors and also to speed up the development, some approaches provide the necessary framework to guide the challenging and complex operations, all of which aim to put in action or software-based systems through stages.
A lifespan is analogous to a project life cycle. SDLC is now in reality regarded in many situations as a staged plan model that sets the corporate, personnel, political, and budgetary limits of the large project. The term "Project" implies that the cycles began and finished and the methodologies inherent inside the strategy for just a systems development life cycle give clear, different stages of the work inside the strategy, development, testing, implementation, and maintenance parts.
SDLC membership also includes c-suite management, however, the multilayered process is managed via construction managers, technology, systems and system engineers, customers, and the design team. Each program is individually complex in planning and execution, and project leaders often use numerous SDLC approaches inside a company.
A corporation must obtain shareholder approval before the company a. hires or fires a significant number of employees. b. expands into foreign markets. c. sells off a major portion of its business to another company. d. opens additional offices.
Answer:
c. sells off a major portion of its business to another company.
Explanation:
The corporation that should obtain the approval of the shareholder prior when the business major portion is sell off to the another company as it is very crucial decision taken by the company. It cant be taken without the approval of the shareholder as they are the original investors of the company
So as per the given situation, the option c is correct
Medication is the most common treatment for seizure disorders.
Tom Scott is the owner, president, and primary salesperson for Scott Manufacturing. Because of this, the company's profits are driven by the amount of work Tom does. If he works 40 hours each week, the company's EBIT will be $590,000 per year; if he works a 50-hour week, the company's EBIT will be $705,000 per year. The company is currently worth $3.6 million. The company needs a cash infusion of $1.7 million, and it can issue equity or issue debt with an interest rate of 10 percent. Assume there are no corporate taxes.
Required:
a. What are the cash flows to Tom under each scenario?
b. Under which form of financing is Tom likely to work harder?
Solution :
a). The company requires a cash infusion of amount $ 1.70 million. If the company issues any debt, annual interest payments is :
Interest = $ 1,700,000
Interest = $ 170,000
The cash flow to the owner is EBIT - (the interest payment) :
40 hour week cash flow = $ 590,000 - $ 170,000
= $ 420,000
50 hour cash flow = $ 705,000 x 67.92%
= $478,836
b). Tom will be working harder under the debt issue as the cash flow will be higher. He will also gain more under this case of financing since the payments to the bond holders are fixed. Under this equity issue, the new investors share the proportionality in his hand work, which will reduce the propensity for his additional work.
Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither.
a. I sold a used textbook for $54, even though I was willing to go as low as $48 in order to sell it.
b. Even though I was willing to pay up to $71 for a watch, I bought a watch for only $65.
c. Even though I was willing to pay up to $63 for a jersey sweater and even though the seller was willing to go as low as $54 in order to sell it, we couldn't reach a deal because the government imposed a price floor of $68 on the sale of sweaters.
Answer:
producer surplus
consumer surplus
neither
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
The highest amount i was willing to buy the watch is $71 but the price was $65. this illustrates a consumer surplus
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
The least amount the textbook seller was willing to sell was $48 while the price the textbook was sold was $54. thus, a illustrates a producer surplus.
for statement c, a transaction did not take place, so, it is neither a producer or consumer surplus
Calculate the IRR of a machine that is purchased for $5,500, sold at the end of year 4 for $2,500, and produces the following cash flows: o Year 1: $700. o Year 2: $800. o Year 3: $900. o Year 4:$1,000. Group of answer choices 2.21% -0.52% 3.72%
Answer:
2.21%
Explanation:
The internal rate of return is the rate of return on the project where the present value of future cash flows equals the initial investment outlay. It is known as the break-even discount rate since, at IRR, the net present value is zero.
The IRR can be determined using the excel IRR function as shown thus:
=IRR(values)
values are the cash flows from years 0-4
Find attached excel file for IRR computation
recycling is primarily an example of an issue facing businesses today \
a. human resource
b. natural resource
c. ethical
d.social
Answer:
a. human resource is the answer
Of what use is the statement of cash flows?
Answer:
The purpose of the statement of cash flows is to present cash inflows and outflows for a reporting period to the reader of the report. These inflows and outflows are further classified into operating, investing, and financing activities.
The following selected transactions were taken from the records of Shipway Company for the first year of its operations ending December 31:
Apr. 13. Wrote off account of Dean Sheppard, $2,120.
May 15. Received $1,060 as partial payment on the $2,820 account of Dan Pyle. Wrote off the remaining balance as uncollectible.
July 27. Received $2,120 from Dean Sheppard, whose account had been written off on
April 13. Reinstated the account and recorded the cash receipt.
Dec. 31 Wrote off the following accounts as uncollectible (record as one journal entry): Paul Chapman $2,120 Duane DeRosa 3,590 Teresa Galloway 4,640 Ernie Klatt 1,310 Marty Richey 1,715
31 If necessary, record the year-end adjusting entry for uncollectible accounts.
Required:
a. Journalize the transactions under the direct write-off method.
b. Journalize the transactions under the allowance method.
c. How much higher (lower) would Shipway Company’s net income have been under the direct write-off method than under the allowance method?
Answer:
Shipway Company
Journal Entries:
a. Direct Method:
Apr. 13. Debit Bad Debts Expense $2,120
Credit Accounts Receivable (Dean Sheppard) $2,120
To write-off account deemed uncollectible.
May 15. Debit Cash $1,060
Debit Bad Debts Expense $1,760
Credit Accounts Receivable (Dan Pyle) $2,820
To record the receipt of cash and write-off of uncollectible balance.
July 27. Debit Accounts Receivable $2,120
Credit Bad Debts Expense $2,120
To reinstate the account.
Debit Cash $2,120
Credit Accounts Receivable $2,120
To record the receipt of cash.
Dec. 31 Debit Bad Debts Expense $13,375
Credit Accounts Receivable $13,375
To write-off the following uncollectible accounts: Paul Chapman $2,120 Duane DeRosa 3,590 Teresa Galloway 4,640 Ernie Klatt 1,310 Marty Richey 1,715.
b. Allowance Method:
Apr. 13. Debit Allowance for Uncollectibles $2,120
Credit Accounts Receivable (Dean Sheppard) $2,120
To write-off account deemed uncollectible.
May 15. Debit Cash $1,060
Debit Allowance for Uncollectibles $1,760
Credit Accounts Receivable (Dan Pyle) $2,820
To record the receipt of cash and write-off of uncollectible balance.
July 27. Debit Accounts Receivable $2,120
Credit Allowance for Uncollectibles $2,120
To reinstate a previously written-off account.
Debit Cash $2,120
Credit Accounts Receivable $2,120
To record the receipt of cash on account.
Dec. 31 Debit Allowance for Uncollectibles $13,375
Credit Accounts Receivable $13,375
To write-off of uncollectible accounts.
c. The amount by which Shipway Company’s net income would have been higher (lower) under the direct write-off method than under the allowance method is:
= $0
Explanation:
a) Data and Analysis:
Direct Method:
Apr. 13. Bad Debts Expense $2,120 Accounts Receivable (Dean Sheppard) $2,120
May 15. Cash $1,060 Bad Debts Expense $1,760 Accounts Receivable (Dan Pyle) $2,820
July 27. Accounts Receivable $2,120 Bad Debts Expense $2,120 Cash $2,120 Accounts Receivable $2,120
Dec. 31 Bad Debts Expense $13,375 Accounts Receivable $13,375
Uncollectible accounts: Paul Chapman $2,120 Duane DeRosa 3,590 Teresa Galloway 4,640 Ernie Klatt 1,310 Marty Richey 1,715
Allowance Method:
Apr. 13. Allowance for Uncollectibles $2,120 Accounts Receivable (Dean Sheppard) $2,120
May 15. Cash $1,060 Allowance for Uncollectibles $1,760 Accounts Receivable (Dan Pyle) $2,820
July 27. Accounts Receivable $2,120 Allowance for Uncollectibles $2,120 Cash $2,120 Accounts Receivable $2,120
Dec. 31 Allowance for Uncollectibles $13,375 Accounts Receivable $13,375
Uncollectible accounts: Paul Chapman $2,120 Duane DeRosa 3,590 Teresa Galloway 4,640 Ernie Klatt 1,310 Marty Richey 1,715
This newer organizational design is designed to be highly flexible so that resources can be configured quickly to respond to changing demands. c) Hierarchical organization e) Heterarchies d) Matrix organization a) Up time organization b) Social networked organization
Answer:
Newer organizational design, designed to be highly flexible so that resources can be configured quickly to respond to changing demands is:
Social networked organization.
Explanation:
The network structure, which is a newer type of organizational structure, uses less hierarchies. It is more “flat,” more decentralized, and more flexible than other organizational structures. In a social networked structure, managers coordinate and control internal and external relationships of the firm, and workers work in project teams to pursue and achieve the goals of their entity.
Lease Plan Effectively Manages Diversity
The term, glass ceiling, was used to represent an absolute barrier or solid roadblock that prevented women from advancing to higher-level positions. The ceiling resulted in women finding themselves stuck in lower-level jobs, ones that did not have profit and loss responsibility, and jobs with less visibility, power, and influence. This scenario is changing. This case illustrates the impact motivated leadership and changing company policies can have on gender diversity in the workplace. Per the United States Department of Labor, compared to women comprising 21 percent of the workforce in 1920, women comprised nearly half of the workforce in the United States in 2013, making gender diversity issues more and more important. This activity asks you to identify and apply your knowledge of such aspects of diversity.
Read the case below and answer the three questions that follow.
In 2003, the representatives of Lease Plan USA's top customers were mostly women, as was most the company's employees. However, men represented a large majority of top managers at the company, reflecting the old-boys network type culture that dominated the fleet industry. New leadership decided to change this and provided career counseling to women, revised reward systems to focus on performance instead of seniority, and replaced some existing managers. Two years ago, only one of seven top executives were a woman. Now, three of the top eight executives are women.
The company's new chief executive claims that these changes are motivated by strategy rather than political correctness. He says, "Lease Plan doesn't build anything…Our sustainable competitive advantages are people." Lease Plan now also implements a development program catered specifically for female employees. The program includes skills assessments, career guidance, communications, brand building, and panel discussions with female executives from other companies.
Lease Plan’s efforts have yielded very positive results in a short period. For example, a 2006 survey showed that 35 percent of women agreed that "management supports my efforts to manage my career," which was improved the following year to 47 percent. A growing percentage of women also feel that their opportunities are growing—increased to 30 percent from 22 percent.
Gerri Patton, Director of Client Activation, says the program helped her become more confident and outspoken. The 23-year Lease Plan veteran encourages her female subordinates to apply. "I wish I would have done that program 10 or 15 years ago," she says. "There's no telling where I would be...The sky would've been the limit."
After reading the case please answer three multiple questions below:
1) According to Eagly and Carli, and also supported by subsequent data analysis by the textbook authors, women have broken through the glass ceiling. Based on what you have read in the case, which of the following trends in gender diversity appears to be most supported by the outcomes of Lease Plan’s program changes?
Educational attainment—women earned the majority of bachelor’s and master’s degrees from 2006 through 2012.
Increases in seats on boards of directors—in Fortune 550 firms up to 16.6 percent in 2013 from only 9.6 percent in 1995.
Leadership positions—in educational institutions in 2010, women represented 18.7 percent of college presidents and 29.9 percent of board members.
Court Appointments—in federal court in 2013, women received 32 percent and 30 percent respectively of appointments to federal courts of appeals and US district court judge positions.
None of these
2) Which of Thomas’s generic action options for managing diversity is most illustrated in the case?
suppress
isolate
deny
include/exclude
tolerate
3) Based on the information in the case, which of the following barriers and challenges to managing diversity that were identified in the text appear to have been present at Lease Plan?
an unsupportive or hostile work environment
poor career planning
lack diversity in senior management
inaccurate stereotypes
difficulty in balancing career and family issues
Answer:
Lease Plan
1) The trend in gender diversity that appears to be most supported by the outcomes of Lease Plan's program changes is:
Increases in seats on boards of directors—in Fortune 550 firms up to 16.6 percent in 2013 from only 9.6 percent in 1995.
2. Thomas's generic action options for managing diversity that is most illustrated in the case is:
include/exclude
3. Based on the information in the case, the barriers and challenges to managing diversity that were identified in the text that appear to have been present at Lease Plan were:
a. an unsupportive or hostile work environment
b. inaccurate stereotypes
Explanation:
Thomas's include and exclude generic action option emphasizes that more diverse employees should be employed in addition to minority-owned companies being used as vendors. This option makes it possible for embracing and practicing workplace diversity. It creates an open-minded and supportive workplace, encouraging the sharing of information and the integration of behavior to accept and value human differences, thereby overcoming stereotypes.
***what is business management
Answer:
business is a person's regular occupation, profession, or trade.
Management is the administration of an organization
At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $529,000. During the year, liabilities increased by $28,000 to $222,000; paid-in capital increased by $31,000 to $173,000; and assets increased by $257,000. Dividends declared and paid during the year were $48,000.
Required:
Calculate net income or loss for the year.
Stockholders’ Equity
Assets = Liabilities + PIC + RE
Beginning = + + $260,000 SE
Changes 130,000 = 11,000 + 20,000 +
Ending = $116,000 + $90,000 +
Answer:
See below
Explanation:
Given the above information, We know that
Assets = Liabilities + equity
Beginning assets = ($222,000 - $28,000) + $529,000 = $723,000
Ending assets = $723,000 + $257,000 = $980,000
Ending equity = Ending asset - Ending liabilities = $980,000 - $222,000 = $758,000
Beginning equity = Beginning paid in capital + retained earnings
Beginning retained earnings = $529,000 - ($173,000 - $31,000)
= $529,000 - $142,000
= $387,000
Ending equity = Ending paid in capital + retained earnings
Ending retained earnings = $758,000 - $173,000 = $585,000
Ending retained earnings = Beginning retained earnings + net income - dividend
$585,000 = $387,000 + Net income - $48,000
Net income = $585,000 - $387,000 + $48,000
Net income = $248,000
At the beginning of the most recent month's operations, finished goods inventory was $30,000. The cost of goods manufactured was $326,000 and ending finished goods inventory was $42,000. What was the cost of goods sold for the month?
Answer:
$314,000
Explanation:
Calculation to determine the cost of goods sold for the month
Finished goods inventory, beginning $30,000
Add: Cost of goods manufactured $326,000
Goods available for sales $356,000
($30,000+$326,000)
Less Finished goods inventory, Ending $42,000
Cost of goods sold $314,000
($356,000-$42,000)
Therefore the cost of goods sold for the month is $314,000
Donna bought $3360 in stock and held it for one year. She paid $51 per share in cash, received no dividends, and sold the shares for $56 per share one year later. Ignoring transaction costs, what was her return on investment?
Answer:
16800 increase
Explanation:
so she bought 171360 in stocks, and 56 dollar per would equal 188160 dollars back or a 16800 dollar gain of money
Use the selected data from Pinecrest Company's financial statements to answer the following question. 2018 2017 Cash $ 22,000 $ 14,000 Accounts receivable 42,000 16,000 Merchandise inventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets $109,000 $131,000 Total current liabilities $ 65,000 $ 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash flow from operating activities 16,000 29,000 Refer to the data for Pinecrest Company. The current ratio for 2018 is
Answer:
1.68
Explanation:
Calculation to determine what The current ratio for 2018 is
Using this formula
Current ratio=Current assets/Current liabilities
Let plug in the formula
Current ratio=$109,000/$65,000
Current ratio= 1.68
Therefore The current ratio for 2018 is 1.68
On December 20, 2017, Butanta Company (a U.S. company headquartered in Miami, Florida) sold parts to a foreign customer at a price of 105,000 ostras. Payment is received on January 10, 2018. Currency exchange rates for 1 ostra are as follows:December 20, 2017 $ 1.20December 31, 2017 1.17January 10, 2018 1.13a. How does the fluctuation in exchange rates affect Butanta's 2017 income statement?b. How does the fluctuation in exchange rates affect Butanta's 2018 income statement?
Answer:
The appropriate solution is:
(a) $3150
(b) $4200
Explanation:
According to the question,
(a)
The exchange loss will be:
= [tex](1.20-1.17)\times 105000[/tex]
= [tex]0.03\times 105000[/tex]
= [tex]3150[/tex] ($)
(b)
The exchange loss will be:
= [tex](1.17-1.13)\times 105000[/tex]
= [tex]0.04\times 105000[/tex]
= [tex]4200[/tex] ($)
ABC Corp. has a market capitalization of $300 million and a beta of 0.75. It has $75 million in outstanding debt and its debt beta is 0.20. The risk-free rate is 3% and the market risk-premium is 5%.
Required:
Calculate ABCâs unlevered cost of capital.
Answer:
6.20000%
Explanation:
The computation of the unlevered cost of capital is shown below;
Asset beta is
= (Debt × Debt beta + Equity × Equity beta) ÷ (Debt + Equity)
= (75 × 0.20 + 300 × 0.75) ÷ (75 + 300)
= 0.6400000
Now
Unlevered cost of capital is
= risk free rate + asset beta × market risk premium
= 3% + 0.6400000 × 5%
= 6.20000%
Based on the connecting letter report, salaries of which college majors are significantly different?
A. Social science and special education.
B. Science and music.
C. Language and music.
D. Social science and music.
Barry Mary
126 114
110 118
138 114
142 111
146 129
136 119
94 97
103 104
140 127
152 133
108 103
97 108
Answer:
C. Language and Music.
Explanation:
The letter report has listed salaries of various employees in different departments. The college majors have different salaries who teach different subjects. The salary for social science staff is higher than the language teaching staff. The most significantly different salaries are for language and music college majors.
The salaries that are significantly different from the given report are C. Language and music.
Salaries of the various subjects. Language college major appear to pay the least amount of salary. Music college major is one of the highest paying.For this reason, the difference between the salaries of music majors and language majors is the most significant.
In conclusion, option C is correct.
Find out more on salary scales at https://brainly.com/question/12061625.
One unit requires 2 direct labor hours to produce. Standard variable overhead per unit is $1.25 and standard fixed overhead per unit is $1.75. If 330 units were produced this month, what total amount of overhead is applied to the units produced?
a. $660
b. cannot be determined without knowing the actual hours worked
c. $1,980
d. $990
Answer : I SAID THE B, CANNOT BE DETERMINED ....
Explanation:
FOR 2 DIRECT LOBOR HOURS!
Griffin Co. is considering the investment of $136,000 in a new machine. The machine will generate cash flow of $22,500 per year for each year of its eight-year life and will have a salvage value of $8,000 at the end of its life. Griffin Co.'s cost of capital is 8 percent.(a) Calculate the net present value of the proposed investment. Ignore income taxes, and round all answers to the nearest $1. (b) What will the internal rate of return on this investment be relative to the cost of capital?
Answer:
$-2,378.47
7.55
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.
Cash flow in year 0 = $-136,000
Cash flow in year 1 to 7 = $22,500
Cash flow in year 2 = $22,500 + 8,000
I = 8 %
NPV = $-2,378.47
IRR = 7.55
To find the NPV 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
To find the IRR 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 IRR button and then press the compute button
Here is some price information on Fincorp stock. Suppose first that Fincorp trades in a dealer market. Bid Asked 55.25 55.50 a. Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed? (Round your answer to 2 decimal places.) b. Suppose you have submitted an order to sell at market. At what price will your trade be executed? (Round your answer to 2 decimal places.)
Answer:
a. Your trade will be executed at the bid price of 55.25.
b. Your trade will be executed at the ask price of 55.50.
Explanation:
First note that:
The bid price is the highest price a buyer will pay for a security.
The ask price is the lowest price a seller will accept for a security.
Therefore, we have:
a. Suppose you have submitted an order to your broker to buy at market. At what price will your trade be executed? (Round your answer to 2 decimal places.)
Since you are the buyer, your trade will be executed at the bid price of 55.25. This is because the bid price is the highest price you as a buyer will pay for a security.
b. Suppose you have submitted an order to sell at market. At what price will your trade be executed? (Round your answer to 2 decimal places.)
Since you are the seller, your trade will be executed at the ask price of 55.50. This is beecausee the ask price is the lowest price uou as a seller will accept for a security.
The following are selected accounts and balances for Mergaronite Company and Hill, Inc., as of December 31, 2021. Several of Mergaronite's accounts have been omitted. Credit balances are indicated by parentheses. Dividends were declared and paid in the same period.
Mergaranite Hill $
Revenues (586,000) (252,000)
Cost of goods sold 272,000 92,000
Depreciation expense 108,000 42,000
Investment income NA NA
Retained earnings, 1/1/21 (898,000) (600,000)
Dividends declared 120,000 42,000
Current assets 220,000 694,000
Land 308,000 100,000
Buildings (net) 508,000 152,000
Equipment (net) 152,000 246,000
Liabilities (386,000) (310,000)
Common stock (290,000) (38,000)
Additional paid-in capital $ (60,000) (914,000)
Assume that Mergaronite acquired Hill on January 1, 2017, by issuing 7,200 shares of common stock having a par value of $10 per share but a fair value of $100 each. On January 1, 2017, Hill's land was undervalued by $21,200, its buildings were overvalued by $31,600, and equipment was undervalued by $58,200. The buildings had a 10-year remaining life; the equipment had a 5-year remaining life. A customer list with an appraised value of $106,000 was developed internally by Hill and was estimated to have a 20- year remaining useful life.
a. Determine the December 31, 2021, consolidated totals for the following accounts:
b. In requirement (a), can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary?
c. If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet?
Answer:
a-1. Total Revenues = $838,000
a-2. Total Amortization Expense = $5,300
a-3. Total Building = $691,600
a-4. Total Depreciation Expense = $164,800
a-5. Total Additional paid in capital = $60,000
a-6. Total Customer list or Patent = $79,500
a-7. Total Cost of Goods sold = $364,000
a-8. Total Common Stock = $290,000.
a-9. Total Equipment = 398,000
b, The parent company's method is irrelevant.
c. See part c of the attached excel file for the consolidation entries that would be used on a 2021 worksheet.
Explanation:
Note: This question is not complete as requirement a of the question is not complete. This is therefore provided before answering the question as follows:
a. Determine the December 31, 2021, consolidated totals for the following accounts:
Revenues
Amortization Expense
Building
Depreciation Expense
Additional paid in capital
Customer list
Cost of Goods sold
Common Stock
Equipment
The explanation of the answers is now provided as follows:
a. Determine the December 31, 2021, consolidated totals for the listed accounts.
Note: See part a of the attached excel file for the determination of the total.
b. In requirement (a), can the consolidated totals be determined without knowing which method the parent used to account for the subsidiary?
There are no reciprocal entries required because we are not dealing with the parent's company investment account. Earnings on equity and dividends are not to be adjusted. As a result, the parent company's method is irrelevant.
c. If the parent uses the equity method, what consolidation entries would be used on a 2021 worksheet?
Note: See part c of the attached excel file for the consolidation entries that would be used on a 2021 worksheet.
You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three suppliers: Thailand Polishing, India Shine, and Sacramento Glow. Thailand Polishing has submitted a bid of 2,400 baht. India Shine has submitted a bid of 2,400 rupee. Sacramento Glow has submitted a bid of $240. You check with your local bank and find that $1 = 10 baht and $1 = 8 rupee. The price per unit for Thailand Polishing=_______
Answer:
the price per unit is $1.20
Explanation:
The computation of the price per unit for Thailand Polishing is shown below:
= 2,400 ÷ 200 polished disks
= 12 bhat/unit
Given that
$1 = 10
So, 12 baht it is
= 1 ÷ 10 × 12 baht
= $1.2
Hence, the price per unit is $1.20
The same should be considered
Melbourne Company uses the perpetual inventory method. Melbourne purchased 500 units of inventory that cost $4.00 each. At a later date the company purchased an additional 600 units of inventory that cost $5.00 each. If Melbourne uses a LIFO cost flow method, and sells 800 units of inventory, the amount of ending inventory appearing on the balance sheet will be:
Answer:
$1,200
Explanation:
Calculation to determine what the amount of ending inventory appearing on the balance sheet will be:
First step is to determine the units in ending inventory
Units in ending inventory=500 units + 600 units – 800 units sold
Units in ending inventory= 300
Now let determine the Ending inventory
Ending inventory=300 units x $4.00
Ending inventory = $1,200
Therefore the amount of ending inventory appearing on the balance sheet will be:$1,200
US Corp. is charged with determining which small projects should be funded. Along with this assignment, she has been granted the use of $15,000 for a maximum of two years. She is considering three projects. Project A costs $7,500 and has cash flows of $4,000 a year for Years 1 to 3. Project B costs $8,000 and has cash flows of $3,000, $4,000, and $3,000 for Years 1 to 3, respectively. Project C costs $2,000 and has a cash inflow of $2,500 in Year 2. What decisions should she make regarding these projects if she assigns them a mandatory discount rate of 8.5 percent
Answer:
Project A and C given a budgetary constraint of $15,000.Pick all projects if there was not constraint as they all have positive NPVs.Explanation:
Find the NPVs of the various projects.
Project A:
= Present value of inflows - Cost
= 4,000 / 1.085 + 4,000 / 1.085² + 4,000 / 1.085³ - 7,500
= $2,716.09
Project B:
= 3,000 / 1.085 + 4,000 / 1.085² + 3,000 / 1.085³ - 8,000
= $511.52
Project C:
= 2,500 / 1.085² - 2,000
= $123.64
Seeing as she has only $15,000 to embark on projects, she should pick projects A and C.
Project A should be picked because it has the highest NPV and Project C should be picked because it can still be invested in after Project A given budgetary constraints.
Able Co. leased equipment to Baker under a noncancelable lease with a transfer of title. Will Able record depreciation expense on the leased asset and interest revenue related to the lease?
Depreciation expense Interest revenue:__________.
a) Yes Yes
b) Yes No
c) No No
d) No Yes
Answer:
d) No Yes
Explanation:
In a noncancelable lease
Able ( lessor ) should not depreciate the leased asset because the tangible leased asset now, converted into the financial asset.
The interest income on this financial asset is recognized.
Each Lease payment is compromised of the interest income and principal repayment by the Baker (lessee)
Hence, Able should
Should not record the Depreciation.
Should recognized the interest income.
Identify the financial instruments based on the following descriptions.
a. Issued by nonfederal government entities, these financial instruments are debt securities that fund their capital expenditures. They are exempt from most taxes imposed in the area where the securities are issued.
b. Issued by corporations, these unsecured debt instruments are used to fund corporate short-term financing requirements. If issued by a financially strong company, they have less risk.
c. These financial instruments are investment pools that buy such short-term debt instruments as Treasury bills (T-bills), certificates of deposit (CDs), and commercial paper. They can be easily liquidated. These financial instruments are contractual agreements that give one party a long-term agreement to use an asset by providing regular payments.
Which of the following instruments are traded in the capital markets?
a. Eurodollar time deposits
b. Bankers' acceptances
c. Treasury bills
d. Commercial paper
e. Common stocks
Answer:
a). State and local government bonds (municipal bond)
b. Certificate of Deposit
c). Corporate bonds
Explanation:
The municipal bonds are a debt security are a from of debt security that is issued by the municipality or the state in order to finance the capital expenditures. They are exempted from most of the taxes that are imposed in that area.
Certificate of Deposit is defined as the savings account which holds a fixed amount of money. They are used to fund a short term financing requirements in a corporate.
The corporate bonds are financial instruments which are considered as an investment pools which buy a short term debt instruments. These instruments are in contractual agreements which provide a long term agreement to a party to use the asset.
The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010. The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.
Economy Real Income per Person in 1960 (Dollars) Real Income per Person in 2010 (Dollars) Annual Growth Rate (Percent)
Austria 9,773 35,031 2.59
Venezuela 7,307 9,762 0.58
Botswana 468 9,515 6.21
Malaysia 4,624 11,863 4.06
Honduras 1,932 3,146 0.98
Zambia 1,412 1,309 -0.15
Indicate which economy satisfies each of the following statements.
a. This economy experiences the fastest rate of growth in real income per person from 1960 to 2010.
b. This economy had the highest level of real income per person in the year 2010.
Answer:
a. Botswana b. AustriaExplanation:
Botswana had the fastest growth in real income per person from 1960 to 2010 with an annual growth rate of 6.21%. This is most likely down to the discovery of diamonds in the country towards the end of the 20th century.
In 2010, Austria had the highest real income per person with an income of $35,031. This is most likely due to the fact that Austria has a heavy presence in the service industry and a low population of less than 10 million people.
a reward or benefit meant to encourage specific economic behavior is a
Answer:
incentive
Explanation: