Answer:
$603.65
Explanation:
The correct and accurate cash balance need to be calculated. This is done by preparing a Bank Reconciliation Statement.
Bank Reconciliation Statement.
Balance as per Bank Statement $1,383.00
Add Outstanding Lodgments $0
Less Unpresented Checks ($260.50 + $425.10 + $331.00) ($1,016,60)
Add Error on Bank Statement $237.25
Balance as per Cash Book $603.65
therefore,
the adjusted ledger balance of cash as of August 31 is $603.65
Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $21,525. Clayborn's May bank statement shows $19,400 on deposit in the bank. Determine the adjusted cash balance using the following information:
Deposit in transit $6,550
Outstanding checks $5,500
Bank service fees, not yet recorded by company $70
A NSF check from a customer, not yet recorded by the company $1,005
The adjusted cash balance should be:
Answer:
$20,450
Explanation:
With regard to the above, the adjusted cash balance would be computer as;
= Bank balance + deposits in transit - outstanding checks
= $19,400 + $6,550 - $5,500
= $20,450
or
= Bank balance - service fees - NSF checks
= $21,525 - $70 - $1,005
= $20,450
Which of the following industries is most likely to outsource jobs to another country because of slight increases in labor costs?
a. Milk dairy.
b. High-tech research facility.
c. Textile plant.
d. Automobile assembly plant.
Which of the following industries is most likely to outsource jobs to another country because of slight increases in labor costs?
a. Milk dairy.
b. High-tech research facility.
c. Textile plant.
d. Automobile assembly plant.
Answer: c. Textile plant.
Hope this helps
Inside the packaging of a new bread machine she purchases, Ginger finds a paper stating, "All our products will be replaced within the first year if they fail to operate correctly. However, consumer misuse or abuse will effectively end this policy." This is a(n) a. implied warranty. b. express warranty. c. statement of guarantee. d. set of instructions for use. e. labe
Answer:
b. express warranty.
Explanation:
A warranty can be defined as a written promise or guarantee made by a manufacturer, lessor or seller about the identity or quality of goods and services or a property to a purchaser, promising him or her to repair or replace it if necessary within a specified time frame.
An express warranty is typically considered to be an affirmative promise about the quality or characteristics of an item that is being sold to a buyer and as such it is binding and enforceable by law.
Inside the packaging of a new bread machine she purchases, Ginger finds a paper stating, "All our products will be replaced within the first year if they fail to operate correctly. However, consumer misuse or abuse will effectively end this policy." This is an express warranty.
It recognized by the Uniform Commercial Code ("UCC") as explicit, stated promises by a manufacturer.
Diamond Company has three product lines, A, B, and C. The following financial information is available:
Item Product Line A Product Line B Product Line C
Sales $70,000 $145,000 $32,000
Variable costs $42,000 $77,000 $20,000
Contribution margin $28,000 $68,000 $12,000
Fixed costs:
Avoidable $6,300 $19,000 $8,950
Unavoidable $5,000 $14,500 $4,000
Pre-tax operating
income $16,700 $34,500 $(-950 )
Assuming that Product Line C is discontinued and the manufacturing space formerly devoted to this line is rented for $6,000 per year, operating income for the company will likely:
a. Increase by $7,200.
b. Increase by $3,300.
c. Increase by some other amount.
,Answer:
See below
Explanation:
A B C
Sales revenue
$70,000 $145,000 $32,000
Variable costs
($42,000) ($77,000) ($20,000)
Contribution margin
$28,000 $68,000 $12,000
Fixed costs
Operating income loss
The total operating income is
= $16,700 + $34,500 + ($950)
= $50,250
Should the fixed cost of C be eliminated, the operating income/(loss) of C
= $6,000 - $950
= $5,050
This is the net increase in the total operating income
Absorption Costing Income Statement
On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept:
Maryville Equipment Company
Variable Costing Income Statement
For the Month Ended October 31
Sales (220,000 units) $7,920,000
Variable cost of goods sold:
Variable cost of goods manufactured$6,360,000
Inventory, October 31 (45,000 units)(1,080,000)
Total variable cost of goods sold (5,280,000)
Manufacturing margin $2,640,000
Variable selling and administrative expenses (330,000)
Contribution margin $2,310,000
Fixed costs:
Fixed manufacturing costs$530,000
Fixed selling and administrative expenses100,000
Total fixed costs (630,000)
Operating income $1,680,000
Prepare an income statement under absorption costing.
Maryville Equipment Company
Absorption Costing Income Statement
For the Month Ended October 31
Cost of goods sold:
Answer:
See below
Explanation:
Income statement under absorption costing:
Sales revenue
$7,920,000
Less:
COGS (220,000 × 26)
($5,720,000)
Gross profit:
$2,200,000
Selling and administration expense
($990,000)
*Variable
$330,000
*Fixed
$630,000
Operating income
$1,210,000
Workings:
Variable cost of goods manufactured $6,630,000
Fixed costs: Fixed manufacturing costs $530,000
Under absorption cost, the company will share the manufacturing cost over the units produced:
Variable manufacturing cost : $6,360,000
Fixed manufacturing cost : $530,000
Total cost : $6,890,000
Units produced
265,000
Units sold
220,000
+ ending inventory 45,000
Cost per units 26
3. Is it better to have your interest compounded annually, quarterly, or daily? Why?
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Answer: Daily, because your money will have more money have interest on it. For example if 5$ is compounded annually and you get 1.3% a year, then you will get 5.013$ at the end of the year. But if it is compounded daily, at the end of the year you will have 5.07$ which is a lot more.
Explanation:
I hope this helped!
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g You have been hired to value a new 25-year callable, convertible bond with a par value of $1,000. The bond has a coupon rate of 6 percent, payable annually. The conversion price is $180 and the stock currently sells for $42.10. The stock price is expected to grow at 10 percent per year. The bond is callable at $1,200; but based on prior experience, it won't be called unless the conversion value is $1,300. The required return on this bond is 8 percent. What value would you assign to this bond
Answer:
The value that would be assigned to this bond is $1,209.36.
Explanation:
From the question, we have:
n = Number of years = 25
FV = Future value = $1,000
PMT = Coupon payment = Coupon rate * FV = 6% * $1000 = $60
r = required return rate = 8%, or 0.08
CP = Conversion price = $180
P = Current selling price = $42.10
t = number of years the bond will be called = ?
PV = [(PMT / r) * (1 - (1 / (1 + r)^n))] + (FV / (1 + r)^n) = [(60 / 0.08) * (1 - (1 / (1 + 0.08)^25))] + (1000 / (1 + 0.08)^25) = $786.50
Therefore, we have:
PV = Current value of the bond = $786.50
CR = Conversion ratio = FV/CP = 1000 / 180
CV = Conversion value = P * CR = $42.10 * (100 / 180) = $23.39
CCP = Current conversion price = CV = $23.39
CPB = Conversion price at which Bond will be called = $1,300
Therefore. we have:
CCP * CR^t = CPB ................... (1)
Substitute relevant values into equation (1) and solve for t, we have:
$23.39 * (1000 / 180)^t = $1,300
23.39 * 5.56^t = 1,300
5.56^t = 1,300 / 23.39
t = ln(1,300 / 23.39) / ln(5.56)
t = 2.34 years
Therefore, we have:
Value assigned to the bond = PV = [(PMT / r) * (1 - (1 / (1 + r)^t))] + (CPB / (1 + r)^t) = [(60 / 0.08) * (1 - (1 / (1 + 0.08)^2.34))] + (1300 / (1 + 0.08)^2.34) = $1,209.36
A salesgirl gets$20.00 for every$100.00 of bread she sells.In one month she sells 50 large loaves of bread at$12.00 each and 80 small loaves at$5.00 each.
Calculate her commission.
Answer:
Commission is $200
Explanation:
Step 1: Calculate Sales Revenue
(50 * 12) + (80 * 5) = $1,000
Step 2: Calculate how many times she achieved $100 in sales
1,000 / 100 = 10
Step 3: Calculate Commission
20 * 10 = $200 in commission
Consider a 20-year callable annual coupon bond with a face value of $1000 and a coupon rate of 8%. The bonds can be called after 5 years for a price of $1070 and is currently selling in the market for $1145. Calculate the yield to call. 6.67% 8.77% 6.21% 8.15% 5.81%
Answer:
5.82%
Explanation:
NPER = 5
PMT = 80
FV = 1,070
PV = 1145
RATE = YTC
Yield to call = RATE(Nper, Pmt, -PV, FV)
Yield to call = RATE(5, 80, -1145, 1070)
Yield to call = 0.058207481
Yield to call = 5.82%
define federal reserve system.
Answer:
this is the federal banking system of USA
Lake Corp., a newly organized company, reported pre-tax financial income of $100,000 for Year 1. Among the items reported in Lake's Year 1 income statement are the following: Premium on officer's life insurance with Lake as owner and beneficiary $15,000 Interest received on municipal bonds 20,000 The enacted tax rate for Year 1 is 30% and 25% thereafter. In its December 31, Year 1 balance sheet, Lake should report a deferred income tax liability of
Answer: $0
Explanation:
A deferred income tax is simply referred to as the liability that's being recorded in the balance sheet when there's a difference in the income that's recognized by the company and the tax laws.
First, we should note that the premium on officer's life insurance will make no difference to the taxable income. Also, the interest received on municipal bonds which is $20,000 are usually exempted from the federal income tax and should not be taxable as well.
Therefore, based on the above explanation, Lake should report a deferred income tax liability of $0.
Alpha Company makes products A and B. Its contribution margin statement is as follows: A B Total Sales volume (units) 400 600 1,000 Revenue $60,000 $60,000 $120,000 Variable Costs Direct materials $25,000 $15,000 $40,000 Direct labor $15,000 $10,000 $25,000 Contribution Margin $20,000 $35,000 $55,000 Fixed Costs $50,000 Profit $5,000 Alpha allocates its fixed costs (capacity costs) based on direct labor dollars. Compute the allocated fixed costs for product A. Group of answer choices $2.00 $30,000 $50,000 $60,000 $110,000
Answer:
Product A= $30,000
Explanation:
Giving the following information:
A B Total
Direct labor $15,000 $10,000 $25,000
Fixed Costs $50,000
First, we need to calculate the allocation rate:
Allocation rate= total estimated costs for the period/ total amount of allocation base
Allocation rate= 50,000 / 25,000
Allocation rate= $2 per direct labor dollar
Now, for product A:
Product A= 2*15,000= $30,000
Perry Investments bought 2,000 shares of Able, Inc. common stock on January 1, 20X1, for $20,000 and 2,000 shares of Baker, Inc. common stock on July 1, 20X1 for $24,000. Baker paid $2,400 of previously declared dividends to Perry on December 31, 20X1. At the end of 20X1, the fair value of the Able stock was $18,000 and the fair value of the Baker stock was $28,000. The stocks were purchased for short-term speculation prior to the effective date of the change in accounting rules for equity investments. Perry owns 10% of each company.
Perry should record the receipt of the Baker dividend as:______
a. DR Cash 2,400 CR Investment in Baker 2,400
b. DR Cash 240 CR Dividend income 240
c. DR Cash 2,400 CR Dividends receivable 2,400
d. DR Dividends receivable 2,400 CR Dividend income 2,400
Answer:
Perry Investments
Perry should record the receipt of the Baker dividend as:______
c. DR Cash 2,400 CR Dividends receivable 2,400
Explanation:
a) Data and Calculations:
Investment in Able, Inc common stock = 2,000 on January 1, 20X1, at a cost of $20,000; December 31, 20X1 fair value = $18,000
Investment in Baker, Inc. common stock = 2,000 on July 1, 20X1, at a cost of $24,000; December 31, 20X1 fair value = $28,000.
Baker's previously declared dividends on December 31, 20X1 = $2,400
b) Since Baker declared the dividends previously, Perry must have debited its Dividends Receivable account. Now that payment had been made by Baker, the Dividends Receivable will be credited while the Cash account is debited.
Rainey Company's true cash balance at October 31 is $4,700. The following information is available for the bank reconciliation: Outstanding checks, $740 Deposits in transit, $540 Bank service charges, $110 The bank had collected an account receivable for Rainey Company, $1,200 The bank statement included an NSF check written by one of Ramsey's customers for $720. What was the unadjusted book balance at October 31
Answer: $4330
Explanation:
The unadjusted book balance at October 31 is calculated below:
True cash balance = $4700
Add: Bank service charge = $110
Add: NSF Check = $720
Less: Account receivable = $1200
Unadjusted book balance = $4330
Geraths Windows manufactures and sells custom storm windows for three-season porches. Geraths also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Geraths enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,400 and chooses Geraths to do the installation. Geraths charges the same price for the windows irrespective of whether it does the installation or not. The customer pays Geraths $2,000 (which equals the standalone selling price of the windows, which have a cost of $1,100) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Geraths completes installation on October 15, 2020, and the customer pays the balance due.
Required:
Prepare the journal entries for Geraths in 2020.
Answer:
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
Cr Sales Revenue $1,846
Oct 15
Dr Cash $400
Dr Unearned Service Revenue $554
Cr Service Revenue $554
Cr Accounts Receivable $400
Explanation:
Preparation of the journal entries for Geraths in 2020.
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
($2400-$2000)
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
($600/$600+$2000*$2400)
Cr Sales Revenue $1,846
($2,000/$600+$2000*$2400)
Oct 15
Dr Cash $400
($2400-$2000)
Dr Unearned Service Revenue $554
Cr Service Revenue $554
($600/$600+$2000*$2400)
Cr Accounts Receivable $400
($2400-$2000)
Waterway Industries adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1080000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Prices Current Price Index December 31, 2020 $1280000 106 December 31, 2021 1453000 124 December 31, 2022 1621000 129 What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO? (Round intermediate calculations and final answer to 0 decimal places, e.g. 10,000.)
Answer:
$1,373,408
Explanation:
Ending inventory in 2019 = $1,080,000 * 100/100 = $1,080,000
Cost of the ending inventory at December 31, 2020 under dollar-value LIFO is:
= $1,080,000 + [($1280000*106/100) - $1,080,000 ] * 106/100
= $1,080,000 + $293,408
= $1,373,408
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
Sales are budgeted at $280,000 for November, $260,000 for December, and $250,000 for January.
Collections are expected to be 45% in the month of sale and 55% in the month following the sale.
The cost of goods sold is 80% of sales.
The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
Other monthly expenses to be paid in cash are $23,400.
Monthly depreciation is $14,400.
Ignore taxes.
Balance Sheet
October 31
Assets
Cash $ 21,800
Accounts receivable 71,800
Merchandise inventory 156,800
Property, plant and equipment, net of $573,800 accumulated depreciation 1,095,800
Total assets $ 1,346,200
Liabilities and Stockholders' Equity
Accounts payable $ 255,800
Common stock 821,800
Retained earnings 268,600
Total liabilities and stockholders' equity $ 1,346,200
The cost of December merchandise purchases would be:
Answer:
$202,400
Explanation:
Calculation for what The cost of December merchandise purchases would be:
December merchandise purchases:
November December January
Sales $280,000 $260,000 $250,000
Cost of goods sold (80% of sales)
$224,000 $208,000 $200,000
(80%*$280,000=$224,000)
(80%*$260,000=$208,000)
(80%*$250,000=$200,000)
Add desired ending merchandise inventory(70% of next month's COGS) $145,600 $140,000
(70%*$208,000=$145,600)
(70%*$200,000=$140,000)
Total needs $369,600 $348,000
($224,000+$145,600=$359,600)
($208,000+$140,000=$348,000)
Less beginning merchandise inventory(70% of this month's COGS)
$156,800 $145,600
(70%*$224,000=$156,800)
(70%*$208,000=$145,600)
Required purchases$212,800 $202,400
($369,600-$156,800=$212,800)
($348,000-$145,600=$202,400)
Therefore The cost of December merchandise purchases would be:$202,400
Gotham University offers only high-tech graduate-level programs. Gotham has two principal operating departments, Engineering and Computer Sciences, and two support departments, Facility and Technology Maintenance and Enrollment Services. The base used to allocate facility and technology maintenance is budgeted total maintenance hours. The base used to allocate enrollment services is number of credit hours for a department. The Facility and Technology Maintenance budget is $350,000, while the Enrollment Services budget is $950,000. The following chart summarizes budgeted amounts and allocation-base amounts used by each department:
Budget Engineering Computer Sciences F&T Maintenance Enrollment Service
F&T Maintenance hours $350,000 2,000 5,000 zero 1,000
Enrollment Service hours $950,000 24,000 36,000 2,000 zero
Required:
Prepare a schedule showing the support costs allocated to each department.
Answer:
Answer is explained in the explanation section below.
Explanation:
Solution:
First, we need to sort the data given to solve:
Data Given:
F&T Maintenance Hours:
Budget = $350,000
Engineering = 2,000
Computer Sciences = 5,000
F&T Maintenance = zero
Enrollment Service = 1,000
Enrollment Service hours:
Budget = $950,000
Engineering = 24,000
Computer Sciences = 36,000
F&T Maintenance = 2,000
Enrollment Service = zero
To solve this question, we are using the direct method to allocate the support cost.
Schedule to allocate the supporting costs.
F&T maintenance:
For Engineering
$350,000 × 2/7 = $100,000
For Computer Science
$350,000 × 5/7 = $250,000
Enrollment Service:
For Engineering
$950,000 × 24/60 = $380,000
For Computer Science
$950,000 × 36/60 = $570,000
Total:
For Engineering Total = $100,000 + $380,000 = $480,000
For Computer Science Total = $250,000 + $570,000 = $820,000
e) Wesley Publishing has an office in England that would like the American office to share their
data on profits. What steps should the American office take in order to determine the profits in
pounds for the England office? (2 points)
I
Answer:
He should make sure he has the right profits then he should see how much things are going to cost, and then finalize it.
Explanation:
Sorry y'all I am having troubles with this assignment sorry if I get it wrong
Cynthia, a sole proprietor, was engaged in a service business and reported her income on the cash basis. On February 1, 2013, she incorporates her business as Dove Corporation and transfers the assets of the business to the corporation in return for all of the stock in addition to the corporation’s assumption of her proprietorship’s liabilities. All of the receivables and the unpaid trade payables are transferred to the newly formed corporation. The balance sheet of the corporation immediately after its formation is as follows:
Dove Corporation
Balance Sheet
February 1, 2013
Assets
Basis to Dove Fair Market Value
Cash $ 80,000 $ 80,000
Accounts receivable 0 240,000
Equipment (cost $180,000; 120,000 320,000
depreciation previously claimed $60,000)
Building (straight-line depreciation) 160,000 400,000
Land 40,000 160,000
Total $400,000 $1,200,000
Liabilities and Stockholder’s Equity
Liabilities:
Accounts payable—trade $ 120,000
Notes payable—bank 360,000
Stockholder’s equity:
Common stock 720,000
Total $1,200,000
Discuss the tax consequences of the incorporation of the business to Cynthia and to Dove Corporation.
Answer:
Cynthia and Dove CorporationAny profits generated by Dove Corporation will be taxed to the corporation and also taxed to Cynthia as a shareholder whenever Dove distributes the profits as dividends. Taxing Dove and Cynthia creates a double taxation burden for both Dove and Cynthia. Dove Corporation does not get a tax deduction when it distributes dividends to Cynthia. Furthermore, Cynthia cannot deduct any corporation loss when incurred. These are unlike when the business was only a sole proprietorship.
Explanation:
a) Data and Calculations:
Dove Corporation
Balance Sheet
February 1, 2013
Assets
Basis to Dove Fair Market Value
Cash $ 80,000 $ 80,000
Accounts receivable 0 240,000
Equipment (cost $180,000; 120,000 320,000
depreciation previously claimed $60,000)
Building (straight-line depreciation) 160,000 400,000
Land 40,000 160,000
Total $400,000 $1,200,000
Liabilities and Stockholders' Equity
Liabilities:
Accounts payable—trade $ 120,000
Notes payable—bank 360,000
Stockholders' equity:
Common stock 720,000
Total $1,200,000
Greater Energy Systems recently reported $9,250 of sales, $5,750 of operating costs other than depreciation, and $700 of depreciation. The company had no amortization charges, it had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. 8. Refer to the data for Greater Energy Systems. What is the firm's free cash flow
Answer:
$970
Explanation:
The computation of the free cash flow is shown below:
As we know that
Free cash flow is
= EBIT (1 - tax rate) + depreciation expense - capital expenditure - net working capital
where
EBIT is
Sales $9,250.00
Less: Operating costs excluding depreciation $5,750.00
Less: Depreciation $700.00
Operating income (EBIT) $2,800.00
Now the free cash flow is
= $2,800 × (1 - 0.35) + $700 - $1,250 - $300
= $1,820 + $700 - $1,250 - $300
= $970
List two reasons why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-efficient products or sustainable energy. Give two examples of careers that may work with these new energy technologies.
Answer:
Explanation: two reasons for why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-efficient products or sustainable energy; Energy efficient technologies are now found in most energy conversion chains.Mar 9, 2020
Cream 424,000 at $130 per gallon Liquid skim 344,500 at $115 per gallon The cost of purchasing 820,000 gallons of direct materials and processing it up to the split-off point to yield a total of 797,500 gallons of good product was $2,350,000. When using a physical-volume measure, what is the approximate amount of joint costs that will be allocated to cream and liquid skim
Question Completion:
Production:
Cream = 443,000 gallons
Liquid skim = 354,500 gallons
Total production = 797,500 gallons
Answer:
The approximate amount of joint costs that will be allocated to cream and liquid skim =
Cream = $1,305,392
Liquid skim = $1,044,608
Explanation:
a) Data and Calculations:
Direct materials purchased = 820,000 gallons
Total yield at split-off = 797,500
Joint costs = $2,350,000
Cream Liquid Skim
Sales units at split-off 424,000 344,500 gallons
Selling price per unit $130 $115
Production Cream 443,000 354,500 gallons
Allocation of joint costs, using a physical volume measure:
Cream = $2,350,000 * 443,000/797,500 = $1,305,392
Liquid Skim = $2,350,000 * 354,500/797,500 = $1,044,608
The sensitivity of a system for disciplining and possibly terminating employees is important, and it is critical that the system be seen as fair. Employees form conclusions about the system's fairness based on the system's outcomes and procedures and the way managers treat employees when carrying out those procedures. Three principles of justice are outcome fairness, procedural justice, and interactional justice.
Outcome fairness involves the ends of a discipline process or action, while procedural and interactional justice focus on the means to those ends. Not only is behavior ethical that is in accord with these principles, but research has also linked the last two categories of justice with employee satisfaction and productivity
Place each of the following labels in one of the columns.
Listen closely
College buddies
Project work
Family friendly
Explanations
Family relations
Accommodations
Gender benefits
Team raises
Promotion
Respect
Qualifications
Outcome fairness Procedural justice International justice
Answer:
You and a friend apply for a job and you believe that you are more qualified - Outcome Fairness
You find out that your friend's uncle is hiring a manager for the company- Procedural justice
Explanation:
Outcome Fairness is the situation where we perceive that the results for a certain situation will be based on fair judgement.
Procedural Justice is a situation where a man believes that there will be pure justice in resource allocation and decision making will be based on judgement.
ABC purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. Using the straight-line method, depreciation expense for 2019 and the book value at December 31, 2019 would be:
Answer:
Depreciation expense - 2019 = $11,000
Book Value - 2019 = $38,000
Explanation:
Straight Line method charges a fixed depreciation charge as :
Depreciation Expense = (Cost - Residual Value) ÷ Useful Life
therefore,
Depreciation expense = $11,000
Book Value = $60,000 - $11,000 - $11,000 = $38,000
What is a planned economy regulated by?
Explanation:
The government regulates the interactions between producers and consumers.
Indicate the correct statement about the effect of the Reynolds number on the character of the flow over an object. If the Reynolds number is low enough, then the effect of viscosity is so:___.
a. high that there is a region near the plate where the fluid is stationary.
b. increases, then the size of the region around the object that is affected by viscosity increases.
c. is high enough, then the effect of viscosity is negligible and the fluid flows over the plate without sticking to the surface.
d. increases, then the extent of the region around the object that is affected by viscosity decreases.
Answer: d. increases, then the extent of the region around the object that is affected by viscosity decreases.
Explanation:
Viscosity simply refers to the measure of the resistance of a fluid to a flow. The Reynolds number helps in the prediction of flow patterns.
If the Reynolds number increases, then the extent of the region around the object that is affected by viscosity decreases.
4. Suppose GDP is $15 million, private saving is $3 million, consumption is $8 million, public saving is $2 million. Assume the economy is closed.
(a) Calculate taxes minus transfer payments (T), government purchases (G), national saving (S), and investment (I).
(b) Is the government running a deficit or a surplus.? Explain
One of the three basic coordination tasks an economy has to face is . In a free-market system, the preceding question is answered by: The price mechanism Input-output analysis Central planning
Available options for question 1.
A. Distribution
B. Location of production
C. Timing of production
D. Reason for production
Answer:
1. Distribution
2. Central planning
Explanation:
One of the three basic coordination tasks an economy has to face is DISTRIBUTION.
In a free-market system, the preceding question is answered by CENTRAL PLANNING
This is evident in the fact that T
The three combination tasks of any economy are:
1) how to utilize its resources efficiently
2) which of the possible combinations of goods to produce
3) how much of the total output of each good to distribute
Hence, the preceding question of DISTRIBUTION, which is "which of the possible combinations of goods to produce." is answered by CENTRAL PLANNING.
This is because Central Planning is the government's effort to determine and combine possible goods to produce to enhance national economic growth.
Cheong Automobile Company fabricates automobiles. Each vehicle includes one water pump, which is currently made in-house. Details of the water pump assembly are as follows: Volume 1200 units per month Variable cost per unit $11.50 per unit Fixed costs $10,000 per month An Indonesian factory has offered to supply Cheong Automobile Company with ready-made units for a cost of $16 for each water pump. Assume that Cheong's fixed costs are unavoidable and that Cheong will not be able to use the excess capacity in any profitable manner. If Cheong decides to outsource, monthly operating income will ___
Answer: Monthly operating income will decrease by $5400.
Explanation:
Volume = 1200 units per month
Variable cost per unit = $11.50 per unit
Fixed costs = $10,000 per month
Since Cheong decides to outsource, the monthly operating income will be calculated thus:
= Volume × (Cost of ready made units - Variable cost per unit)
= 1200 × (16 - 11.50)
= 1200 × 4.50
= $5400
Therefore, the monthly operating income will decrease by $5400.