On January 1, 2016, Brian's stock portfolio is worth $100,000. On September 30, 2016, $5,000 is withdrawn from the portfolio, and immediately after this withdrawal the portfolio has a value of $105,000. Twelve months later, the value of the portfolio is $108,000, and Brian adds $3,000 worth of stock to his portfolio. On December 31, 2017, the portfolio is worth $100,000. What is the time-weighted rate of return for Brian's stock portfolio over the two year period

Answers

Answer 1

Answer:

1.93%

Explanation:

The time weighted rate of return will be computed by combining the return at every time period demarcated by a withdrawal/addition.

Time 1: Jan 1, 2016 to Sep 30, 2016

start value = 100,000; end value = (105,000+5,000) = 110,000

Return = \(\frac{110,000}{100,000}=1.1\)

Time 2: Sep 30, 2016 to Sep 30, 2017

start value = 105,000; end value = 108,000

Return = \(\frac{108,000}{105,000}=1.028571\)

Time 3: Sep 30, 2017 to Dec 31, 2017

start value = (108,000 + 3,000) = 111,000; end value = 100,000

Return = \(\frac{100,000}{111,000}=0.900901\).

Therefore, time weighted return

= (1.1 * 1.028571 * 0.900901) - 1

= 0.019305

= 1.93%.


Related Questions

Explain the core functions of organizational culture.

Answers

The core functions of organizational culture are to provide a shared identity and guidelines for behavior, shape employee motivation and productivity, and influence organizational performance and interactions with stakeholders.

Organizational culture refers to the shared values, beliefs, attitudes, and practices that shape the behavior of individuals within a company. Its core functions are to create a sense of identity and unity among employees, provide guidelines for behavior, and help employees understand the organization's mission and goals. Culture also affects employee motivation, engagement, and productivity.

It influences the recruitment and retention of employees, shapes the way decisions are made, and determines how the organization interacts with stakeholders. Effective organizational culture fosters innovation, collaboration, and adaptability, while a negative culture can lead to high turnover, low productivity, and poor performance.

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Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your
answers to 2 decimal places.)
a. A head of household with taxable income of $57,000.
Tax amount
b. A single person with taxable income of $35,800.
Tax amount
c. Married taxpayers filing jointly with taxable income of $72,400.
Tax amount

Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate

Answers

$12540, $4296 and $8688 are taxes paid respectively in the tax slabs.

What are tax slabs?

Tax slabs are the various income bands where a particular tax rate is applied to taxable income. The government establishes these slabs, which change depending on the taxpayer's situation (single, head of household, married filing jointly, etc.), income level, and other factors. For instance, lower levels of taxable income may be subject to a lower tax rate in many nations, while higher levels may be taxed at a higher rate. Because the tax rate rises as the taxpayer's income rises, this system is known as a progressive tax system. Because those who earn more pay a larger share of their income in taxes, the use of tax slabs enables a more equitable distribution of the tax burden.

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You’re a project manager of a small team. You have received some resumes to review, and a few of them look well qualified, but two of the resumes are very poorly formatted and use wacky fonts and graphics. Would you considered these individuals as qualified candidates and if so, would you hesitate to hire them? Please justify your answer by briefly summarizing the discussion you might have with these candidates.

Answers

Answer:

just tell them the truth

How much would $10,000 due in 20 years be worth today if the discount rate were 6.5%?

Answers

Answer:

PV= $2,837.97

Explanation:

Giving the following information:

Future value= $10,000

Number of periods= 20 years

Interest rate= 6.5% compounded annually

To calculate the present value, we need to use the following formula:

PV= FV/(1+i)^n

PV= 10,000/(1.065^20)

PV= $2,837.97

Select the correct answer. Which of these are mathematical laws that help us solve numerical problems? A. decimals B. graphs C. formulas D. percentages E. fractions

Answers

The mathematical laws that help us solve numerical problems are primarily represented by formulas. Option C

Formulas are mathematical expressions that establish relationships between different variables and provide a systematic way to solve specific problems. They are derived from mathematical principles and laws and serve as a guide to calculate or determine unknown quantities.

Decimals, fractions, and percentages, on the other hand, are not mathematical laws themselves but rather numerical representations or formats used in mathematical calculations. They are tools and representations that help us work with numbers and express quantities in different ways.

Graphs, while not mathematical laws either, are graphical representations of data or functions that can visually depict mathematical relationships or trends. Graphs can be used to analyze data and understand mathematical concepts, but they are not laws in themselves. Option C

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ABC Inc. has the following data for September:

Physical Units
Units in beginning work in process 8,000 units
Percentage complete:
Materials 100 %
Conversion costs 50 %
Units Started in September 10,000 units
Units completed & transferred out 15,000 units

Units in ending work in process 0 ?
Percentage complete:
Materials 100 %
Conversion costs 20 %

Costs
Materials Conversion Costs
Beginning work in process $20,000 $ 6,000
Costs added during September $30,000 $40,000

Calculate cost per equivalent unit for conversion cost
Using FIFO method & calculate:
(1) Prepare a physical unit schedule.
(2) Compute equivalent units.
(3) Compute unit costs.
(4) Prepare a cost reconciliation schedule.

Answers

The cost per equivalent unit for conversion cost is 9,000 units.

What is a cost?

The cost is the amount of money needed to produce, market, and sell goods and services or buy assets.

When a product is sold or consumed, a cost is charged to expense. In the case of a buying of an asset, the charge to expense could be significantly deferred.

The cost concept underlies the transition of assets from the balance sheet to expenses in the income statement.

The cost can be a fixed cost like the lease of a building which will not vary every month or can be a variable cost like the telephone cost which can vary every month.

The cost per equivalent unit for conversion cost is 9,000 units.

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Question 6 of 10
One advantage of a long-term loan compared to a short-term loan is that a
long-term loan
A. does not require the borrower to have a good credit score,
B. can be paid off in full without the borrower paying any interest.
C. allows a person to borrow more money at a lower interest rate,
D. does not force the borrower to make payments every month,
SUBMIT

Answers

One advantage of a long-term loan compared to a short-term loan is that a long-term loan allows a person to borrow more money at a lower interest rate. Long-term loans typically have a longer repayment period, which spreads out the principal amount over a greater number of months or years.OPtion c

As a result, the monthly payments are lower compared to a short-term loan. This lower monthly payment makes it easier for individuals to manage their finances and allocate funds towards other expenses'Additionally, long-term loans often come with lower interest rates compared to short-term loans. Lenders are more willing to offer competitive interest rates for long-term loans because they have a longer period to earn interest on the loan.

This allows borrowers to save money in interest payments over the life of the loan.In summary, a long-term loan provides the advantage of enabling individuals to borrow more money while enjoying lower monthly payments and favorable interest rates.

It offers greater flexibility and affordability, making it an attractive option for those who require a larger loan amount and prefer a longer repayment period.Option c

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Terp Corp.'s transactions for the year ended December 31, 2021 included the following: Purchased real estate for $1,250,000 cash which was borrowed from a bank. Sold investment securities for $1,000,000. Paid dividends of $1,200,000. Issued 500 shares of common stock for $500,000. Purchased machinery and equipment for $250,000 cash. Paid $900,000 toward a bank loan. Reduced accounts receivable by $200,000. Increased accounts payable $400,000. The net cash used in financing activities for 2021 was

Answers

Answer:

$1,600,000

Explanation:

Cashflow from financing activities

Dividends                                 ($1,200,000)

Issue of Stocks                            $500,000

Bank Loan Repayment             ($900,000)

Net Cash flow                          ($1,600,000)

thus

The net cash used in financing activities for 2021 was $1,600,000

Which two of the following statements are true about Attribution reports?

Select All Correct Responses


A. App conversions and store visits are included in Attribution reports

B. App conversions and store visits are not included in Attribution reports

C. Attribution reports can help you estimate how changes to your attribution model might impact conversion reporting

D. Attribution reports can help you evaluate and optimize performance after you’ve changed your attribution model

Answers

B. App conversions and store visits are not included in Attribution reports of the following statements are true about Attribution reports.

What is revealed by an attribution report?

The paths customers follow to complete conversions are displayed in attribution reports, which also offer insights into how your various advertising campaigns interact to produce conversions. You may check, for instance, whether some keywords helped with conversions that subsequently came about as a result of other keywords.

Store visits and app conversions are excluded from Attribution reports. You can make an educated guess about how adjustments to your attribution model would affect conversion reporting using attribution reports. After changing your attribution model, attribution reports can aid in performance evaluation and optimization.

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Hershel Greene has the right under a contract with Runway Retail, Inc., to buy the retailer’s clothing overstock. Hershel's sale of this right to Sade’s Style House is

Answers

Hershel's sale of this right is b. an assignment.

In an assignment:

an assignor transfers a contractual right to some other party the other party is called the assignee the assignee has the power to enforce the contractual rights that the assignor had.

Hershel is the assignor in this scenario as they transferred rights they had on Runway Retail Inc. by means of a sale. Sade is therefore the assignee here because they received these rights.

In conclusion, this is an assignment because it has the features of an assignment.

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Options for this question include:

a. a delegation.

b. an assignment.

c. prohibited.

d. a third-party beneficiary contract.

why are citizens punished with sin taxes​

Answers

Answer:

Sin taxes are typically added to liquor, cigarettes, and goods that are considered morally hazardous. Because they generate enormous revenue, state governments favor sin taxes. ... The sin tax seeks to reduce or eliminate consumption of harmful products by making them more expensive to obtain

Explanation:

You have invested $6,000 in plant improvements and financed $6,000 long-term debt to pay for it. You have also elected to retire $6,000 of long-term debt. Now, your closing cash position reads -$3,000. How can you fix the current financial decisions so that you have a healthy cash position at the end of the year?

Answers

Answer:

Retire Long Term debt at $0Issue Long Term Debt at $6,000

Explanation:

If you elect to both retire the $6,000 in long term debt and also issue long term debt of the same amount, your cash balance would be -$3,000 which is unhealthy.

What you should do therefore, is to retire no long term debt while still issuing the long term debt of $6,000 to pay for the investment in plant improvement. This will leave you with a cash balance of $3,000 which is healthy enough.

Rachel's Designs has 2,000 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $23,000 in 2021. How much of the $23,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders?
Preferred dividends in arrears for 2019 and 2020?
Preferred dividends for 2021?
Total Dividends?

Answers

Answer:

Dividend of preferred shares = No of shares * Dividend percent * Par value of shares = 2,000 * 7% * $50 = $7,000

Hence, dividend in arrears for the year 2019 and 2020 is $14,000 ($7,000+$7,000). Dividend for 2021 is $7,000

Description                                                                             Amount

Preferred dividend in arrear for the year 2019 and 2020  $14,000

Add: Preferred dividend for the year 2021                          $7,000

Total preferred dividend                                                       $21,000

Less: Total dividend                                                               $23,000

Dividend for common shareholder                                     ($2,000)

Hence, dividend paid for cumulative preferred share in the year 2021 is $21,000 and the amount paid for common shareholders is $2,000

How much will be paid to common stockholders is 2,000

Preferred dividends in arrears for 2019 and 2020 is 14,000

Preferred dividends for 2021 is 7,000

Total Dividends is 23,000

Preferred dividends for 2021

(2000 x .07 x $50)= 7,000

Dividend distribution

Preferred dividends for 2019 and 2020 $14,000

(7,000×2)

Preferred dividends for 2021 7,000

Remaining dividends for common stockholders 2,000

(23,000-14,000-7,000)

Total dividends 23,000

(14,000+7,000+2,000)

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PLEASE HELP

Assuming all other factors are the same, which statement about the cost of
loans is correct?
A. A loan with simple interest will cost more than a loan with
compound interest.
B. A loan with simple interest and a loan with compound interest will
cost the same.
C. Interest compounded daily will cost more than interest
compounded monthly.
D. Interest compounded annually will cost more than interest
compounded quarterly.
SUBMIT

PLEASE HELP Assuming all other factors are the same, which statement about the cost ofloans is correct?A.

Answers

Answer:

=> C. Interest compounded daily will cost more than interest compounded monthly.

The proper answer is Daily interest compounding is more expensive than monthly interest compounding. So, the best choice is (C).

What is interest?

In the fields of finance and economics, interest is the payment made at a set rate by a borrower or deposit-taking financial institution to a lender or depositor in excess of the principal amount (the amount borrowed).

It is not the same as a fee that the borrower might pay to the lender or another entity. It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit or reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a share of the reward received by risk-taking businesspeople when revenue is earned that exceeds all costs.

Hence, option (C) is accurate.

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What is blogger outreach?

Answers

Blogger outreach is the practice of reaching out to bloggers or influencers in a particular niche or industry to collaborate or work with them on promoting a brand, product, or service.

It involves identifying relevant bloggers, establishing a relationship with them, and pitching them to write a blog post or share content related to the brand or product. The goal of blogger outreach is to create positive buzz about a brand or product and generate backlinks to increase website traffic and improve search engine rankings. It is a form of influencer marketing that can help businesses expand their reach and engage with a targeted audience. Blogger outreach can be done through email, social media, or other means of communication. Successful blogger outreach requires a well-planned strategy, understanding of the target audience, and building a relationship based on mutual benefit.

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You make $13.00 Per Hour. You work 40 hrs. a week for 5 weeks this month. Total Hrs. Worked = _____
What is your monthly income? ____

Answers

Answer:

assuming that this month was extraordinarily long, and had more days than any other month in history, you worked a total of 5 x 40 = 200 hours

Also, due to length of the month, you will earn 200 hours x $13 = $2,600

Generally months tend to have between 20-23 labor days

Mazu Mavuso is a 43-year-old South African resident who was employed by Veg & Fruit Limited, a South African company, until 30 November 2022. On 30 November 2022, Veg & Fruit Limited ceased its operations and the pension fund that Veg & Fruit Limited established for its employees also closed down. The Veg & Fruit Limited pension fund paid out R80 000 to Mazu Mavuso during the 2023 year of assessment. All Mazu Mavuso's pension fund contributions have been deducted in the determination of his taxable Income. Mazu Mavuso also decided to join a retirement annuity fund, to which he made a total contribution of R7 000 during the 2023 year of assessment. For the 2023 year of assessment, Mazu Mavuzo's receipts and expenses were as follow: Salary Director's fees earned Local dividends from South African companies Local interest from a non 'tax free investment' Pension fund contributions at 6.5% of his salary Retirement annuity fund contributions Qualifying medical expenses paid Donation to a qualifying section 18A Public Benefit Organisation R 720 000 110 000 45 000 24 500 ? 7 000 61 630 6 000 Calculate Mazu Mavuso’s taxable income for the 2023 year of assessment. (25 marks) 1.2) Calculate Mazu Mavuso’s total normal tax liability for the 2023 year of assessment. Assume that Mazu Mavuso had a taxable income of: • R770 900 before any retirement fund lump sum withdrawal benefits. • R843 900 after any retirement fund lump sum withdrawal benefits. (17 marks) Competency Framework Reference: E1.2 Interpretation of tax legislation b) Demonstrate the ability to apply the principles of tax interpretation to any new or unfamiliar tax legislation. E1.3 Application of tax legislation to calculate tax obligation a) Analyse the taxpayer’s tax profile. c) Apply the relevant law to the facts, determine the tax position and compute the tax payable (VAT or normal tax) for individuals and companies.​

Answers

Explanation:

to calculated this question to solve

Beacon Petroleum purchased an operational oil well for $8 million and expects to extract 16 million barrels over the 10-year life of the
well. Beacon estimated the well's salvage value to be zero. What is the firm's cost of goods sold for year 1 if it extracts 2.5 million
barrels of oil and sells 2.0 million barrels of oil?
O $1.00 million
O $1.25 million
O $0.25 million
O $2.25 million

Answers

Answer:1.00 million

Explanation:

All leaders tend to share several common characteristics.
O True
O False

Answers

Answer:

O True

Explanation:

I think it’s true but I’m not sure

- Assignment 3-Ch 3-Con...
mment 3- Ch 3
M Sign In | Connect | McGraw Hill
My Awards
Saved
Mean Beans, a local coffee shop, has the following assets on January 1, 2023. Mean Beans prepares annual financial statements and
has a December 31, 2023 year-end. The company's depreciation policy is to use the straight-line method to depreciate its assets.
a. On January 1, 2023, purchase equipment costing $23,400 with an estimated life of five years. Mean Beans will scrap the equipment
after five years for $0.
a. Annual depreciation expense on equipment
b. Annual depreciation expense on furniture
c. Annual depreciation expense on car
b. On July 1, 2023, purchase furniture (tables and chairs) costing $17,900 with an estimated life of ten years. Mean Beans estimates
that it can sell the furniture for $2,500 after ten years.
Required:
1-a. For each transaction, calculate the current year's annual depreciation expense.
$ 4,680
$
770
2,575
PAssignments - To Do
c. On January 1, 2021, Mean Beans had purchased a car costing $25,750 with an estimated life of eight years. Mean Beans estimates
that it can sell the car for $5,150 after eight years.
$
Help
1-b. For each transaction, record the adjusting entry on December 31, 2023.
Se

- Assignment 3-Ch 3-Con...mment 3- Ch 3M Sign In | Connect | McGraw HillMy AwardsSavedMean Beans, a local

Answers

1-a. The adjusting entry for equipment would be as follows:

Depreciation Expense $4,680

Accumulated Depreciation - Equipment $4,680

1-b. The adjusting entry for furniture would be as follows:

Depreciation Expense $1,540

Accumulated Depreciation - Furniture $1,540

To calculate the annual depreciation expense for Mean Beans' assets, we need to use the straight-line method, which allocates the cost of an asset evenly over its estimated useful life.

a. On January 1, 2023, Mean Beans purchased equipment costing $23,400 with a five-year estimated life. The annual depreciation expense for the equipment can be calculated as follows:

Annual depreciation expense on equipment = (Cost of equipment - Estimated residual value) / Estimated useful life

= ($23,400 - $0) / 5

= $4,680

b. On July 1, 2023, Mean Beans purchased furniture (tables and chairs) costing $17,900 with a ten-year estimated life. The annual depreciation expense for the furniture can be calculated as follows:

Annual depreciation expense on furniture = (Cost of furniture - Estimated residual value) / Estimated useful life

= ($17,900 - $2,500) / 10

= $1,540

c. As mentioned in the assignment, Mean Beans purchased a car on January 1, 2021, costing $25,750 with an eight-year estimated life. The estimated residual value after eight years is $5,150. However, since the assignment only requires calculations for the current year, we can skip this part.

To record the adjusting entry on December 31, 2023, we need to account for the depreciation expense incurred during the year.

a. The adjusting entry for equipment would be as follows:

Depreciation Expense $4,680

Accumulated Depreciation - Equipment $4,680

b. The adjusting entry for furniture would be as follows:

Depreciation Expense $1,540

Accumulated Depreciation - Furniture $1,540

These adjusting entries recognize the annual depreciation expense and update the corresponding accumulated depreciation accounts. By the end of the year, the accumulated depreciation accounts will reflect the total depreciation incurred on the respective assets.

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(100 POINTS AND BEAINLYESt)
(Question 2 Only)

(100 POINTS AND BEAINLYESt)(Question 2 Only)

Answers

Answer:

D

Explanation:

Humans are always looking for things to help improve their daily lives, seeing advertisements showcase new items for them and get them to buy their stuff.

Answer:

ur jew for this

Explanation:

compare and contrast the fragmented and unified logistics organizational structures

Answers

The unified logistics organizational structure's primary benefit is that it provides improved coordination, less duplication of effort, and enhanced communication.

The logistics organizational structure is defined as the manner in which tasks are coordinated, arranged, and administered to accomplish the objectives of the organization. Logistics refers to the process of planning, implementing, and controlling the storage, transportation, and distribution of goods from the point of origin to the point of consumption.

In a fragmented logistics organizational structure, different departments, divisions, or subsidiaries are accountable for particular aspects of logistics activities, like warehousing, transportation, distribution, and customer service, but there is no central authority coordinating all the tasks. Each division is responsible for accomplishing its goals and is not concerned with the logistics as a whole.In contrast, a unified logistics organizational structure is a logistics network in which the entire company works together as a single entity, and all logistics operations are coordinated centrally, with a dedicated department overseeing and controlling the process.

The unified structure has a single point of responsibility for all the logistics operations and is responsible for coordinating activities such as warehousing, transportation, distribution, and customer service.In the case of the fragmented logistics organizational structure, the main disadvantage is that it is challenging to manage since there is no central authority or person responsible for coordinating all logistics tasks. The benefits of this structure, on the other hand, include flexibility, quick decision-making, and responsiveness to the individual needs of each logistics department.However, it can be challenging to be responsive to individual needs and may limit flexibility and the ability to make quick decisions.

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Theoretically, how should a business choose between borrowing and equity in its capital structure?

Answers

A business needs to choose between the financing options available, generally there are two options available to a company that is equity and borrowing. A company needs to choose a perfect ratio between the two, Ideal is 40% borrowing and 60% Equity.

What is Borrowing or Debt?

Borrowing the financing option that a company have, this is also known as the debt, in a debt the company asks for loan from financial institutions who provide loan to the company at a certain percentage of interest that the company will have to bear as a finance cost, the business will pay this cost to the debtor every year as per the agreed terms.

Ideally a company should never cross 50% of borrowing of the total capital, this makes the investment too risky and the debtors will then as a result increase the interest percentage.

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the greater the edu ation level, the less likely you are to?
a) end up unemployed
b) have money
c) have mental issues
d) never retire​

Answers

Answer:

a) end up unemployed

Explanation:

Education equips a person with skills and knowledge that makes them marketable in the job market. In other words, education prepares an individual for employment, either by another entity or self-employment. Employers always insist on a certain level of minimum level of education before considering one for employment. Due to competition in the job market, employers prefer candidates with a higher level of education.

Education improves an individual's cognitive abilities. They learn things quickly and can adapt to different work environments. A highly educated person can work in diverse fields, which improves their chances of securing employment.

Why is defining the parameters of the project the first step?

Answers

Defining the parameters is the first step of the project because you have to have the measurements for your project before you start. You can just make something blindly. ... Give two examples of math skills that you used in creating your project.

Suppose that a worker in Caninia can produce either 2 blankets or 8 meals per day, and a worker in Felinia can produce either 5 blankets or 1 meal per day. Each nation has 10 workers. For many years, the two countries traded, each completely specializing according to their respective comparative advantages. Now war has broken out between them and all trade has stopped. Without trade, Caninia produces and consumes 10 blankets and 40 meals per day and Felinia produces and consumes 25 blankets and 5 meals per day. The war has caused the combined daily output of the two countries to decline by
a. 25 blankets and 40 meals.
b. 50 blankets and 80 meals.
c. 15 blankets and 35 meals.
d. 35 blankets and 45 meals.

Answers

Answer:

c. 15 blankets and 35 meals

Explanation:

Based on the information given the war has caused the combined daily output of both the two countries to decline by 15 blankets and 35 meals which is calculated as:

Calculation for Declined in combined daily output for both countries

Countries Production Consumption

Caninia 10 blankets 40 meals per day

Felinia 25 blankets 5 meals per day

=Declined 15 blankets and 35 meals per day

Therefore the combined daily output of both the two countries will decline by 15 blankets and 35 meals per day

indicate your potential market​

Answers

Your potential market includes the demographic groups that are not currently your customers but could become customers in the future.

The following is an alphabetical list of Blue Spruce’s Bakery’s adjusted account balances at the end of the company’s fiscal year on November 30, 2021:
Accounts payable $32,710 Merchandise inventory $34,360
Accounts receivable 13,670 Mortgage payable 106,000
Accumulated depreciation—building 61,200 Prepaid insurance 4,500
Accumulated depreciation—equipment 19,880 Property tax expense 3,500
Building 175,000 Purchases 627,700
B. Hachey, capital 104,480 Purchase discounts 6,300
B. Hachey, drawings 12,000 Purchase returns and allowances 13,315
Cash 20,700 Rent revenue 3,400
Depreciation expense 14,900 Salaries expense 121,600
Equipment 57,000 Salaries payable 8,500
Freight in 5,110 Sales 872,000
Freight out 8,200 Sales discounts 8,300
Insurance expense 9,000 Sales returns and allowances 9,845
Interest expense 5,700 Unearned revenue 3,000
Land 79,000 Utilities expense 20,700
1.Prepare a multiple-step income statement for the November 30, 2021, year end

2.Prepare a statement of owner’s equity for the November 30, 2021, year end.

3.Prepare a classified balance sheet for the November 30, 2021, year end

4. Prepare the closing journal entries.

5.Post closing entries to the Merchandise Inventory and capital accounts. Check that the balances in these accounts are the same as the amounts on the balance sheet.

Additional information:
1. Blue Spruce’s Bakery uses a periodic inventory system.
2. Of the mortgage payable, $9,200 is due on March 31, 2022.
3. A physical count determined that merchandise inventory on hand at November 30, 2021, was $37,370.
4. The owner made no capital contributions during the year.

Prepare a multiple step income statement for the Nov 30, 2024 year end.

Answers

1. The preparation of the multiple-step income statement for Blue Spruce's Bakery  for the year ended November 30, 2021, is as follows:

Blue Spruce's Bakery  

Multiple-step Income Statement

For the year ended November 30, 2021

Sales                                                             $872,000

Sales discounts                                                 (8,300)

Sales returns and allowances                          (9,845)

Net sales revenue                                       $853,855

Cost of goods sold:

Merchandise inventory               $34,360

Purchases                                    627,700

Freight in                                           5,110

Purchase discounts                       (6,300)

Purchase returns & allowances    (13,315)

Cost of goods available (sale) $647,555

Merchandise inventory               (37,370)  $610,185

Gross profit                                                $243,670

Operating Expenses:

Property tax expense              $3,500

Depreciation expense             14,900

Salaries expense                    121,600

Freight out                                 8,200

Insurance expense                   9,000

Utilities expense                     20,700     $177,900

Operating Income                                     $65,770

Rent revenue                                                3,400

Income before interest                             $69,170

Interest expense                                         (5,700)

Net Income                                              $63,470

2. The preparation of a statement of owner's equity for Blue Spruce's Bakery for the year ended November 30, 2021, is as follows:

Blue Spruce's Bakery

Statement of Owner's Equity

For the year ended November 30, 2021

B. Hachey, capital       $104,480

B. Hachey, drawings      (12,000)

Net income                     63,470

Ending balance          $155,950

3. The preparation of a classified balance sheet for Blue Spruce's Bakery as of November 30, 2021, is as follows:

Blue Spruce's Bakery

Balance Sheet

As of November 30, 2021

Assets

Current Assets:

Cash                                                                           $20,700

Accounts receivable                                                    13,670

Merchandise inventory                                               37,370

Prepaid insurance                                                        4,500

Total current assets                                                 $76,240

Long-term Assets:

Building                             $175,000

Accumulated depreciation  61,200  $113,800

Equipment                           57,000

Accumulated depreciation 19,880      37,120

Land                                                     79,000    $229,920

Total assets                                                         $306,160

Liabilities and Equity

Current Liabilities:

Accounts payable                                                 $32,710

Salaries payable                                                      8,500

Unearned revenue                                                  3,000

Mortgage payable                                                   9,200

Total current liabilities                                         $53,410

Long-term Liabilities:

Mortgage payable                                                96,800

Total liabilities                                                    $150,210

Owner's Equity                                                 $155,950

Total liabilities and equity                               $306,160

4. The closing journal entries are as follows:

Closing Journal Entries:

Account Titles                                 Debit        Credit

Sales                                           $872,000

Income Summary                                        $872,000

To close the gross sales to the income summary.

Account Titles                                 Debit        Credit

Income Summary                       $18,145

Sales discounts                                            $8,300

Sales returns and allowances                     $9,845

To close sales discounts, returns, and allowances to the income summary.

Account Titles                                 Debit        Credit

Rent revenue                               $3,400

Income Summary                                              $3,400

To close the rent revenue to the income summary.

Account Titles                                 Debit        Credit

Income Summary                    $647,555

Merchandise inventory                               $34,360

Purchases                                                    627,700

Freight in                                                           5,110

To close the beginning inventory, purchases, and freight-in to the income summary.

Account Titles                                 Debit        Credit

Purchase discounts                     $6,300

Purchase returns & allowances    13,315

Income Summary                                           $19,615

To close purchases discounts, returns, and allowances to the income summary.

Account Titles                   Debit        Credit

Income Summary          $183,600

Property tax expense                      $3,500

Depreciation expense                     14,900

Salaries expense                            121,600

Freight out                                         8,200

Insurance expense                           9,000

Utilities expense                             20,700

Interest expense                              5,700

To close expenses to the income summary.

5. The post-closing entries to the Merchandise Inventory and Capital accounts are as follows:

Post-Closing Entries:

Account Titles                   Debit        Credit

Merchandise inventory $37,370

Income Summary                              $37,370

To record the closing merchandise balance.

Statement of Equity     $12,000

Owner's drawings                             $12,000

To close the owner's drawings to the statement of equity.

Income Summary       $63,470

Statement of Equity                          $63,470

To close the income summary to the statement of equity.

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You tell Julia, "There's always improvement to be made as we grow, beginning with me." She looks at you and smiles. You're not certain if her smile is genuine, but you know there are things you can do to improve your leadership skills as well as things you can do to equip the organization to run well as you develop those skills. What might you do to help your organization?

Answers

To help improve the organization, the leader can focus on developing their own leadership skills while also equipping the organization to run effectively.

This can be achieved by seeking feedback from employees, providing training and professional development opportunities, delegating responsibilities to trusted team members, and fostering a positive and collaborative work environment.

By seeking feedback from employees, the leader can identify areas for improvement and make necessary adjustments to their leadership style. Providing training and development opportunities can help employees grow in their roles and contribute to the success of the organization. Delegating responsibilities to trusted team members not only lightens the leader's workload, but also empowers employees and allows them to develop their own leadership skills. Finally, fostering a positive and collaborative work environment can boost morale and productivity, leading to greater success for the organization as a whole.

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A movie theater can increase its profits through price discrimination by charging a higher price to adults and a lower price to children if it A. only shows G-rated movies. B. has no monopoly pricing power. C. cannot easily distinguish between the two groups of customers. D. can prevent children from buying the lower-priced tickets and selling them to adults.

Answers

The major way through which a movie theatre can increase its profits through price discrimination is by charging more to the adults and a lower price to children if it:

D. Can prevent children from buying the lower-priced tickets and selling them to adults.

Price discrimination

We should note that a G rated movie is one which is suitable for people of all ages and this cannot be used to create a price discrimination as this essentially means that only a group of people can view and there is a different price for the ticket.

How movie theatres apply price discrimination

With this in mind, we can see that if the movie theatre charges a lower price for children, then if it shows only G rated movies, if it can prevent children from buying the lower priced tickets, then they would increase their profits.

Therefore, the correct answer is option D

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