Answer:
work part time
Explanation:
Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: August 211 units were purchased at $2 per unit. August 1816 units were purchased at $4 per unit. August 2913 units were sold. What is the amount of the cost of goods sold for this sale
Answer:
$41.41
Explanation:
The Weighted Average Cost Method recalculates the unit cost after every new purchase. The goods are then sold at the recent calculated average cost before the sale.
Average Cost Before sale = Total Cost ÷ Units Available for sale
= ( 11 units × $2 + 16 units × $4) ÷ ( 11 units + 16 units)
= $3.185
Therefore,
Cost of Goods Sold = Units Sold × Average Unit Cost Before sale
= 13 units × $3.185
= $41.41
Conclusion :
The amount of the cost of goods sold for this sale is $41.41.
Liddy Corp. began constructing a new warehouse for its operations during the current year. In the year Liddy incurred interest of $30,000 on a working capital loan, and interest on a construction loan for the warehouse of $70,000. Interest computed on the average accumulated expenditures for the warehouse construction was $40,000. What amount of interest should Liddy expense for the year?
Answer: $60,000
Explanation:
Liddy should expense the $30,000 interest on a working capital loan.
Liddy should also expense the difference between the interest on the construction loan and the interest on the average accumulated expenditures for the warehouse construction as the $40,000 is directly related to the construction. The difference should therefore be expensed.
= 70,000 - 40,000
= $30,000
Interest to be expensed = 30,000 + 30,000
= $60,000
On August 31, a hurricane destroyed a retail location of Carla Vista's Clothier including the entire inventory on hand at the location. The inventory on hand as of June 30 totaled $1895000. Since June 30 until the time of the hurricane, the company made purchases of $495000 and had sales of $1480000. Assuming the rate of gross profit to selling price is 40%, what is the approximate value of the inventory that was destroyed
Answer: $1,502,000
Explanation:
The destroyed stock is the closing stock on August 31.
Cost of Goods sold = Opening stock + Purchases - Closing stock
Closing stock = Opening stock + Purchases - Cost of Goods sold
Opening stock = $1,895,000
Purchases = $495,000
Gross profit is 40% of sales so Cost of Goods sold must be 60%;
= 60% * 1,480,000
= $888,000
Closing stock = 1,895,000 + 495,000 - 888,000
= $1,502,000
United Disposal, Inc., operates a hazardous waste disposal site that accepts waste transported by Ace Trucking Company from General Manufacturing Corporation. United sells the site to Investment Properties, Inc. A release of the waste is discovered at the site, and the Environmental Protection Agency (EPA) cleans it up. The EPA can recover the cost of the cleanup from
Answer:
United Disposal, General Manufacturing Corporation, Ace Trucking Company, and/or Investment Properties.
Explanation:
When the EPA cleans up site, it generally uses money from its superfund and it is allowed to recover the money from the entity that caused the pollution (either directly or indirectly), the owner of the premise or the user of the premise. I.e. they can recover the funds from anyone involved. The EPA will try to recover the funds based on several aspects including the financial position of the entities involved. E.g. if United Disposal, Ace Trucking Company and General Manufacturing Company filed for bankruptcy, the EPA will recover the funds from Investiture Properties even if they were not responsible for the pollution.
A(n) _____ market is a market in which just a few firms control a large market share.
a. monopolistic
b. monopsonistic
c. monopolistically
d. competitive
e. oligopolistic
Answer:
Option e (oligopolistic) is the appropriate solution.
Explanation:
The oligopoly would be a market governed by those few companies. There are several companies throughout this industry that offer relatively homogenous either separated goods. Often, since there are very few retailers on the marketplace, each seller affects the actions of several other companies and perhaps other businesses.Some other available scenarios aren't relevant to the situation in question. That's the correct above.
This is for my business class someone help please and thank you!
What factors beyond PEST do businesses look at?
Answer:
Legal and environmental.
Explanation:
PEST is a short form for political, economic, social, and technological factors. These are external factors likely to impact business performance. Entrepreneurs should analyze, understand them, and include their effects in business plans.
Other external factors that may affect business performance are legal and environmental.
For the legal factors, an entrepreneur should analyze the impact of possible changes in laws and legal interpretations on their businesses. In the environmental analysis, the entrepreneur should be aware of the industry's environmental regulations and restrictions. They should plan for possible changes in license limitations.
On April 30, 2017, Cupidity Corp. purchased for cash all 200 shares of the outstanding common stock of Venality Corp. for $40 per share. At April 30, 2017, Finality B/S showed net assets with a book value of $6,000. On that date, FMV of Venality PPE exceeds book value by $650. What amount should Cupidity report as goodwill
Answer:
$1,350
Explanation:
Goodwill is the Excess of Cash Consideration over the Net Assets taken over. Net Assets taken over are measured at their Fair Market Value instead of Book Values at the Acquisition date.
Where,
Cash Consideration = $8,000
Fair Value of Net Assets Acquired ($6,000 + ) = $6,650
Therefore,
Goodwill = $8,000 - $6,650
= $1,350
A firm should continue producing until A. average costs are at a minimum. B. the average cost when another unit is produced equals the average revenue obtainable from selling the extra unit. C. the cost of producing the output equals the revenues obtainable from selling the output. D. the cost of increasing output by one more unit equals the revenues obtainable from selling the extra unit.
Answer:
D. the cost of increasing output by one more unit equals the revenues obtainable from selling the extra unit.
Explanation:
The firm should continue to producing till the increasing cost output by one extra unit equivalent to the revenue received from selling the additional unit as we know that the marginal cost is equivalent to marginal revenue. In the case when the marginal revenue is more than the marginal cost so it would rise the production but if the case is opposite so the output would reduce
Therefore the option D is correct
If the federal funds rate were below the level the Federal Reserve had targeted, the Fed could move the rate back towards its target by a. selling bonds. This selling would increase reserves. b. buying bonds. This buying would reduce reserves. c. selling bonds. This selling would reduce reserves. d. buying bonds. This buying would increase reserves.
Answer: c. selling bonds. This selling would reduce reserves.
Explanation:
If the Fed sold bonds, they would be taking money out of the system as people would buy the bonds and pay the Fed. When this happens, the reserves of money in banks reduces.
This leads to a situation where there will be less cash to loan out. This reduction in the supply of loanable funds will result in interest rates rising to reflect that loanable funds are now more scarce thereby pushing the federal funds rate back up to the level targeted.
The accountant for Crusoe Company is preparing the company's statement of cash flows for the fiscal year just ended. The following information is available: Retained earnings balance at the beginning of the year $ 132,000 Cash dividends declared for the year 52,000 Proceeds from the sale of equipment 87,000 Gain on the sale of equipment 8,200 Cash dividends payable at the beginning of the year 24,000 Cash dividends payable at the end of the year 27,200 Net income for the year 98,000 What is the ending balance for retained earnings
Answer:
the Ending retained earnings balance is $178,000
Explanation:
The computation of the ending retained earnings balance is shown below:
Ending retained earnings balance is
= Opening retained earning balance + net income for the year + cash dividend declared for the year
= $132,000 + $98,000 - $52,000
= $178,000
hence, the Ending retained earnings balance is $178,000
The same is relevant
Currently, a company is financed with 40% equity and 60% debt. The debt consists of 15-year $1,000 face-value bonds that pay semi-annual interest payments based on an annual coupon rate of 7%. The market price of the firm’s bonds is currently $1034. Further, the company has a beta of 1.4. The expected return on the market is expected to be 14% while the risk free rate is 4%. The marginal tax rate is 40%. What is the company's cost of equity? 10.8% 18.0% 14.0% 14.2%
Answer:
the cost of the equity of the company is 18%
Explanation:
The computation of the cost of equity is as follows
Cost of equity = Risk free rate of return + beta × (market rate of return - risk free rate of return)
= 4% + 1.4 × (14% - 4)
= 4% + 1.4 × 10%
= 4% + 14%
= 18%
Hence, the cost of the equity of the company is 18%
We simply applied the above formula so that the accurate percentage could come
Therefore the second option is correct
9- Demand for It-is-Hot-Outside fresh ice-cream is (continuous) uniform between 55 and 255 lbs. Profit on each pound of ice-cream is $16. This ice-cream is made in one batch at the begging of the day and any left-over ice cream at the end of the day will be discarded. It costs about $9 to prepare a pound of ice-cream. How much ice-cream (in lbs) should be prepared at the beginning of the day in order to maximize the profit
Answer: 183
Explanation:
Based on the information given in the question,
Cost of excess (Ce) = 9$
Cost of shortage (Cs) = 16$
Service level = Cs/(Cs+Ce)
= 16/(16+9)
= 16/25
= 0.64
Lower limit = 55
Upper limit = 255
We then calculate the optimal quantity which will be:
= Lower limit + Service level × (Upper limit - Lower limiit)
= 55 + 0.64 × (255-55)
= 55 + (0.64 × 200)
= 55 + 128
= 183
Therefore, to maximize profit, 183 ice cream should be prepared.
The quantity of ice-cream (in lbs) that should be prepared at the beginning of the day in order to maximize the profit is 183 ice cream.
First step is to calculate the service level using this formula
Service level = Cs/(Cs+Ce)
Where:
Cost of shortage (Cs) = $16
Cost of excess (Ce) = $9
Let plug in the formula
Service level= 16/(16+9)
Service level= 16/25
Service level= 0.64
Second step is to calculate the optimal quantity using this formula
Optimal quantity=Lower limit + Service level × (Upper limit - Lower limit)
Where:
Lower limit = 55
Upper limit = 255
Service level= 0.64
Let plug in the formula
Optimal quantity= 55 + 0.64 × (255-55)
Optimal quantity= 55 + (0.64 × 200)
Optimal quantity= 55 + 128
Optimal quantity= 183
Inconclusion the quantity of ice-cream (in lbs) that should be prepared at the beginning of the day in order to maximize the profit is 183 ice cream.
Learn more optimal quantity here:https://brainly.com/question/13882364
Kaelyn's mother, Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops off and picks up the twins from Judy's home every day). Since Judy is a relative, Kaelyn made sure, for tax purposes, to pay her mother the going rate for child care ($6,460 for the year). What is the amount of Kaelyn's child and dependent care credit if her AGI for the year was $37,600
Answer:
Kaelyn's child and dependent care credit is:
$2,100.
Explanation:
a) Data and Calculations:
Going rate for child care for twins = $6,460
Maximum allowed = $6,000
Kaelyn's AGI for the year = $37,600
Percentage of child and dependent care credit = 35% of the allowed maximum for two children
b) The maximum qualified child and dependent care expense is $6,000 ($3,000 each) that Kaelyn can claim for the twins. Therefore, her child and dependent care credit is 35% of $6,000, which equals $2,100.
If British pounds sell for $1.30 (U.S.) per pound, what should dollars sell for in pounds per dollar?
Solution :
British pound is the name of the currency of the country England.
It is given that the value of one British pound is $ 1.30 in terms of dollar.
i.e. $ 1.30 = 1 Pound
Now calculation for the dollar sells for in pounds per dollar is given by :
[tex]$1 \text{ dollar} = \frac{1}{1.30} \ \text{pound}$[/tex]
[tex]$1 \text{ dollar} = 0.76 \text{ pound}$[/tex]
Therefore, 1$ is 0.76 pound.
Thus, 1 dollar sells for in 0.76 pound per dollar.
ABC company has two classes of stock: A preferred that has a market value of $125 per share and a par value of $100, with a 6% cumulative dividend, 10000 shares issued and outstanding. A common stock that was issued at $20 per share, no par value, 50000 shares issued and outstanding. ABC paid cash dividends of $75000 in 2007, $50,000 in 2008, and $80,000 in 2009. For 2007 indicate how much of the dividend the Preferred shareholders and common shareholders received. In 2007
Answer:
Dividends paid to preferred shareholders in 2007 = $60,000
Dividends paid to common shareholders in 2007 = $15,000
Explanation:
The Dividends paid to preferred shareholders in 2007 = 6% * $100 * 10,000 shares
The Dividends paid to preferred shareholders in 2007 = 0.06*100*10,000
The Dividends paid to preferred shareholders in 2007 = $60,000
Dividends paid to common shareholders in 2007 = Cash dividend paid in 2007 - Dividends paid to preferred shareholders
Dividends paid to common shareholders in 2007 = $75,000 - $60,000
Dividends paid to common shareholders in 2007 = $15,000
Holiday Trees Inc. is an unlevered (all-equity) firm that expects to generate an after-tax cash flow stream of $250 million next year and is expected to grow at a rate of 4% per year. The beta of the unlevered value of this free cash flow stream is 1.5. The riskless rate of interest is 6%, and the risk premium on the market portfolio is 7%. The corporate tax rate is 40%. Assume all debt is riskless. 1. What is the value of unlevered firm?2. The firm decides to lever itself to a 50% debt-to-equity ratio. Calculate WACC.3. Calculate value of the levered firm.
Answer and Explanation:
The computation is shown below:
1. Cost of equity = Risk free Rate + Beta × Market Risk Premium
= 6% + 1.5 × 7%
= 16.5%
Now Value of un Levered firm is
= After tax Cash flow year1 ÷ (Cost of Equity - Growth)
= $250 ÷ (16.5% - 4%)
= $2000
Beta levered is
= Beta Unlevered (1+ (1- Tax Rate ) × Debt ÷ Equity)
= 1.5 × (1 + (1 -40%) × 50% ÷ 100%
= 1.95
2. Cost of equity = Risk free Rate + Beta × Market Risk Premium
= 6% + 1.95 × 7%
= 19.65%
Now WACC = Weight of Equity × Cost of Equity + Weight of debt × Cost of Debt × (1 - Tax rate)
=100% ÷ 150% × 19.65% + 50% ÷ 150% × 6% × (1 - 40%)
= 14.30%
3. Debt = 1 ÷ 3 × 2000
Value of levered firm = Value Unlevered + Debt × Tax Rate
= 2000 + 2000 ÷ 3 × 40%
= $2,266.67
Forest Gump drinks Dr. Pepper. He can buy as many cans of Dr. Pepper as he wishes at a price of $0.50 per can. On a particular day, he is willing to pay $1.00 for the first can, $0.75 for the second can, $0.60 for the third can, and $0.40 for the fourth can. Assume Forest Gump is rational in deciding how many cans to buy. His consumer surplus is
Answer:
0.85
Explanation:
1-0.50 = 0.50
0.75-0.50 = 0.25
0.60-0.50 = 0.10
0.50+0.25+0.10
= 0.85
Ron, age 19, is a full-time graduate student at City University. During 2020, he received the following payments: Cash award for being the outstanding resident adviser $ 1,500 Resident adviser housing 2,500 State scholarship for ten months (tuition and books) 6,000 State scholarship (meals allowance) 2,400 Loan from college financial aid office 3,000 Cash support from parents 2,000 $17,400 Ron served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2020
Answer:
$3,900
Explanation:
Since meals are not considered "qualified educational expenses", the state scholarship must be included in Ron's adjusted gross income. The cash award he received for being an outstanding resident adviser is also included in his AGI. Total taxable income = $1,400 + $2,500 = $3,900
Hannah makes the following charitable donations in the current year: Basis Fair Market Value Inventory held for resale in Hannah's business (a sole proprietorship) $ 8,000 $ 7,200 Stock in HBM, Inc., held as an investment (acquired four years ago) 16,000 40,000 Baseball card collection held as an investment (acquired six years ago) 4,000 20,000 The HBM stock and the inventory were given to Hannah's church, and the baseball card collection was given to the United Way. Both donees promptly sold the property for the stated fair market value. Disregarding percentage limitations, Hannah's current charitable contribution deduction is: a.$28,000. b.$67,200. c.$51,200. d.$52,000.
Answer:
c.$51,200.
Explanation:
Individual tax: Charitable contribution deduction ignoring % limit
Inventory will be valued at lower of FMV or basis $7,200
Stock in HBM (a capital investment assets $40,000
will be valued at FMV)
Baseball card collection (Non capital gain item, $4,000
valued at lower of FMV or basis)
Hannah's Current maximum charitable $51,200
contribution deduction
Prudential is expected to pay an annual $1.25 dividend in the coming year. Dividends are expected to grow at the rate of 4% per year. The risk free rate is 2% and the market risk premium is 5%. Prudential has a beta of 0.8. The value of the stock should be:
Answer:
$62.5
Explanation:
The value of the stock = dividend to be paid next year / required rate of return - growth rate
required rate of return = risk free rate + (risk premium x beta)
2% + (0.8 x 5%) = 6%
1.25 /6% - 4% = 1.25 / 0.06 - 0.04 = $62.5
As an important control for the occurrence assertion related to sales, the computer starts with the population of daily sales invoices and develops a one for one match with underlying shipping documents to ensure that each sales invoice is supported by a ________.
Answer:
A. bill of lading
Explanation:
The bill of lading is the document that supports the sales invoice as the bil of lading contains the details regarding the shipment and the confirmation with respect to the delivery
So as per the given situation since it is mentioned in the question that for shipping documents the sales invoice should be supported by the bill of lading
hence, the same is to be considered
How does income get taxed twice in the case of a corporation?
Answer: Double taxation occurs when a corporation pays the corporate tax rate on earnings or profits, then pays dividends from those profits to shareholders who are again taxed on the money at their personal rates.
Explanation:
Only ______ segregation produces viable gametes and progeny, which also occurs in about half of meiosis and accounts for semi-sterility of translocation heterozygotes.
a. Alternate
b. Adjacent-1
c. Adjacent-2
d. Both B & C
Answer:
a. Alternate
Explanation:
Translocation is the process whereby two non-homologous chromosomes undergo mutation by exchanging their parts. This establishes new linkages in the chromosomes. Translocations occur during anaphase I of meiosis. There are two common types of segregations that occur during translocations; Adjacent-1 and Alternate segregations which both have equal chances of occurrence. A less common third one is Adjacent-2 segregation.
Adjacent-1 and Adjacent-2 segregation produces genetically incomplete gametes, therefore, the gametes are non-viable or sterile.
Alternate segregation on the other hand result in the formation of genetically complete gametes, therefore, the gametes produced are viable.
Only alternate segregation produces viable gametes and progeny, which also occurs in about half of meiosis and accounts for semi-sterility of translocation heterozygotes.
When a business is worth more if its assets are sold than if it continues to operate, then the business is liquidated, and the proceeds from the sale are used to satisfy any outstanding debt. Liquidation occurs when businesses file for bankruptcy under Chapter 7 of the Federal Bankruptcy Reform Act. This act provides for an equitable distribution of the debtor's assets among the creditors. The distribution of assets i:s governed by a certain priority of claims. Which of the following claimants has the highest priority according to Chapter 7? A. State taxes due B. Unsecured claims for customer deposits C. Wages due before three months of filing D. Legal and administrative fees to operate the bankrupt firm
Answer:
D. Legal and administrative fees to operate the bankrupt firm
Explanation:
Under chapter 7, priority debt includes unpaid wages, child support, income taxes, etc. But before any priority debts, non-priority debts or secured or unsecured loans are paid, the bankruptcy court and trustee is paid first. In other words, you must first pay the administrative fees and expenses resulting from the bankruptcy procedure before any debts are paid off. The trustee is the person appointed to liquidate the firm.
ABC manufacturing company produces a television table that sells for $10 per unit. It has variable costs of $5 per unit and incurs fixed costs of $20000 per period. Find break-even point in units.
Answer:
i think it's 4000 units
Ricardo's utility depends on his consumption of good q1 and good q2, where the price of good q1 is initially $30 and the price of good q2 is $15. At the original prices, his compensated demand for good q1 is q1 = 39.583(p2/p1)0.4. The price of good q1increases from $30 to $60. At the new price. Ricardo's compensated demand for good q1 is q1= 26.114(p2/p1)0.4(i) What is Ricardo's compensating variation? Ricardo's compensating variation (CV) is CV =_____.(ii) What is Ricardo's equivalent variation? Ricardo's equivalent variation (EV) is EV =_____ .
Answer: 67
Explanation:
A startup will start paying dividends at the end of year 6. The initial growth rate is 10%. This growth rate will continue until year 10. Starting from year 11, the growth rate drops to 5%. The discount rate is 20%. What should the price be at the end of year 5 if the initial dividend is $10.
Answer: $76.46
Explanation:
The price at the end of year 5 is the sum of the present values of the dividends from year 6 to 10 and the present value of the terminal in year 10.
Year Dividends Discount factor Present value
6 10 ( 1 + 20%) 8.33
7 10 * 1.1 = 11 (1 + 20%)² 7.64
8 10 * 1.1² = 12.1 (1 + 20%)³ 7.00
9 10 * 1.1³ = 13.31 (1 + 20%)⁴ 6.42
10 10 * 1.1⁴ = 14.641 (1 + 20%)⁵ 5.88
Total 35.27
Terminal value at year 10 = Next dividend / (Discount rate - growth)
= (14.641 * 1.05) / (20% - 5%)
= $102.487
Present value = 102.487/ (1 + 20%)⁵ = $41.187
Price of stock = 41.187 + 35.27
= $76.46
Calculate Cash FlowsNature’s Way Inc. is planning to invest in new manufacturing equipment to make a new garden tool. The garden tool is expected to generate additional annual sales of 1,600 units at $75 each. The new manufacturing equipment will cost $257,000 and is expected to have a 10-year life and $17,000 residual value. Selling expenses related to the new product are expected to be 5% of sales revenue. The cost to manufacture the product includes the following on a per-unit basis:Direct labor $12.00Direct materials 30.00Fixed factory overhead—depreciation 15.00Variable factory overhead 4.50 Total $61.50Determine the net cash flows for the first year of the project, Years 2–9, and for the last year of the project. Do not round your intermediate calculations but, if required, round your final answer to the nearest dollar. Use a minus sign to indicate cash outflows.
Answer:
Net cash flow for year 1 = ($217,400)
Net cash flow for year 2-9 = $39,600
Net cash flow for last year = $56,600
Explanation:
Year 1 Year 2-9 Last year
Initial investment -$257,000
Annual revenue $120,000 $120,000 $120,000
Selling expense -$6,000 -$6,000 -$6,000
Cost of manufacture -$74,400 -$74,400 -$74,400
Net operating cash flows $39,600 $39,600 $39,600
Total for year 1 -$217,400
Total for year 2-9 $39,600
Residual value $17,000
Total for last year $56,600
A company has decided to discontinue a component of its business but, when the reporting period ends, the component has not yet been sold. The amount that the company would report as income from discontinued operations is (ignore tax effects): Multiple Choice income from operations for the year and the amount by which the component’s fair value less cost to sell is greater than book value. income from operations for the year and the amount by which the component’s fair value less cost to sell is less than book value. only the amount by which the component’s fair value less cost to sell is less than book value. only the component’s income from operations for the year.
Answer: income from operations for the year and the amount by which the component’s fair value less cost to sell is less than book value
Explanation:
Discontinued operations is simply and accounting term which means the parts of the core business of a company that have either been shut down or divested.
With regards to the question, the amount that the company would report as income from discontinued operations would be the income or loss that was gotten from operations, that is revenues, the expenses, gains and the losses and the impairment loss.
Therefore, the correct answer will be option B "Income from operations for the year and the amount by which the components fair value less cost to sell is less than the book value".
Find an opportunity to demonstrate servant leadership in an organization or community through volunteering or serving others. Your goal is to serve the selected organization or entity for at least a total of four hours. Submit a summary (1-2 paragraphs) of your intended servant leadership activity for approval by the instructor.
Answer: Servant leadership role is described as a kind of leadership where the leader serve others and not merely leading then without doing anything
Explanation:
Servant leadership role is described as a kind of leadership where the leader serve others and not merely leading then without doing anything. To explore my servant leadership role I visited the community where I did my secondary school, it's a community that's not well to do and citizens live below $2 on feeding a day. I joined the community in their farming activities, I taught them how they could make farming better and utilize it for their feeding and serving the market as a whole. I taught them the importance of farming in the world and how important they are with what they do. At their schools, I joined in teaching some classes mathematics, and admonished the students from time to time on how they can be the best if they stay focused