Answers
Answer:
cumulative preferred stocks
Explanation:
There are several ways in which you can classify preferred stocks, and one of the most important ones is cumulative or non-cumulative.
Cumulative preferred stocks are entitled to past dividends if by some reason they weren't paid by the corporation. E.g. last year no dividends were distributed, but this year preferred stockholders will receive two payments. Non-cumulative preferred stocks are not entitled to past dividends if they were not paid in their specific period. E.g if last year no dividends were declared, then they are lost and will not be paid in the future.Related Questions
what is an event management
Answers
Answer:
vent management is the application of project management to the creation and development of small and/or large-scale personal or corporate events such as festivals, conferences, ceremonies, weddings, formal parties, concerts, or conventions.
Explanation:
Hunter has just completed his first year of operation as a sole proprietor of a successful sporting goods store. There were
challenges but he was excited about getting to keep all the profits of the venture to himself.
A) Advantage of a sole proprietorship
B)Disadvantage of a sole proprietorship
Answers
Some of the advantages and disadvantages of sole proprietorship include:
Advantage - keep all the profits Disadvantage - personally liable for any debtsWhat are the advantages and disadvantages of sole proprietorship?One of the advantages of a sole proprietorship is that the business owner gets to keep all the profits of the business for themselves. This is because the owner has complete control over the business and is not required to share the profits with any other partners or shareholders.
One of the disadvantages of a sole proprietorship is that the business owner is personally liable for any debts or legal issues that arise in the course of business.
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Which of the following is not barrier to entrepreneurship ; lack of technical skills, political instability, technical knowledge, time pressure and distraction
Answers
Answer:
Technical knowledge
When is it appropriate to use composite rate depreciation?
Answers
How does a business survive and maintain a profit?
Answers
Answer:
Make sure you don't copy and paste. Have a good day!!!
Explanation:
1. Customers
Find and keep your own customers – you have to be able to solve their real problems & sell yourself effectively.
Too many businesses rely on ‘being in the supply chain’, have too few major customers and do not invest personal time and effort in developing and maintaining customer relations – remember, ‘people buy people’.
Check their credit rating and monitor their speed of payment.
You have not made a sale until they’ve paid the bill. Some customers have bad habits over slow payment; some are big enough to know better. Some will go under before they pay – avoid them.
2. Risks
Assess risks & their potential impact – e.g. customer or supplier closure
Develop contingency plans to mitigate risks
We live in a risky business environment. Don’t assume everything will be OK – look at the potential risks, pitfalls and liabilities for your business and at how you can reduce the biggest risks or anticipate how you will respond if the worst happens.
3. Opportunities
Look for ways to create new value – e.g. new pricing, products & offers to stimulate demand
It often takes longer and costs more than you think to innovate or do anything new.
Use the technology – social media, tablet computing and smartphones are constantly changing the ways we can do business
There are always new opportunities and growing confidence in the economy accelerates these. Many of the most attractive are not in the UK but are international.
Innovation and new approaches can open up promising opportunities but experience tells us that when doing anything new often costs more and takes longer to implement than you first expect, so be prepared to increase your investment of time and money for those new ideas. That means doing your research to find out just how attractive an opportunity it is in the first place.
4. Money in – manage cash and break even
Forecast and monitor your cash flow very closely
Aim to maintain/increase profit margins rather than just increasing sales turnover (bottom line not top line)
Monitor breakeven on the business, customers, products, staff.
Beware of ‘buying’ work at cut-throat margins. Profitable businesses can fail because they run out of money, often suffering from slow payment and lack of credit. Aim to be cash-positive and you will sleep better at night. Break-even is the point at which the business, a person or a contract starts making a profit and is always an important measure.
5. Money out – manage costs and debt
Keep your fixed costs down: avoid costs which are not essential.
Aim to grow sales on a variable cost basis – borrow, rent or lease assets but don’t buy things or hire people you don’t need.
Keep in contact with creditors & lenders to avoid nasty surprises.
Businesses can be wasteful; you don’t need to be. Invest your money only in assets and projects which will provide a strong return. The worst time to ask a lender for more money is when you really need it. Up to date management accounts are essential and you must read them to monitor the health of the business.
6. People
Optimism – positive, realistic leadership with open communications
Set & monitor clear & realistic targets – sales, costs, project completion, debt etc.
Move unproductive people & customers out of the business.
At the end of the day it’s all about how you manage relationships with people. You can tell a lot about a business from the quality of interactions between its managers, employees, customers and suppliers.
Answer:
Explanation:
No business can survive for a significant amount of time without making a profit, though measuring a company's profitability, both current and future. Without sufficient capital or the financial resources used to sustain and run a company, business failure is imminent.
In 2012, XYZ Inc., a medical equipment distributor, sold 10,000 units of its hospital beds at an average price of $500 per unit. The company reported estimated returns and allowances of $200,000. The company purchased 11,000 units of its product from its manufacturer in 2012 at an average cost of $350 per unit. XYZ began 2012 with 1,000 units of its product in inventory (carried at an average cost of $300 per unit). Operating expenses (excluding depreciation) in 2012 were $400,000, and the depreciation expense was $100,000. XYZ had $2,000,000 in debt outstanding throughout all of 2012, which carried an average interest rate of 10%. The company’s tax rate is 40%. Its fiscal year runs from January 1 through December 31. Given this information, prepare the following documents: a. XYZ’s 2012 income statement b. XYZ’s 2012 ending inventory balance (both in unit and in dollar terms)
Answers
a. The preparation of XYZ's Income Statement for the year ended December 31, 2012 is as follows:
Net sales revenue $4,800,000
Cost of goods sold 3,450,000
Gross profit $1,350,000
Operating expenses 400,000
Depreciation expense 100,000 500,000
Operating income $850,000
Interest Expense 200,000
Income before taxes $650,000
Taxes (40% x $650,000) 260,000
Net income $390,000
b. The ending inventory balance of XYZ's 2012 is as follows:
Units = (Beginning inventory + Purchases - Sales)
= 2,000 beds (1,000 + 11,000 - 10,000)
Dollars = $700,000 (2,000 x $350).
Data and Calculations:
Units of beds sold = 10,000
Average price per unit = $500
Sales revenue = $5,000,000
Estimated returns and allowances = $200,000
The Net sales revenue is $4,800,000 ($5,000,000 - $200,000).
The Cost of goods sold is $3,450,000 (9,000 x $350 + 1,000 x $300).
The Ending inventory is $700,000 (2,000 units x $350).
Operating expenses = $400,000
Depreciation expense = $100,000
Interest expense = $200,000 ($2,000,000 x 10%)
Tax rate = 40%
Thus, the ending inventory balance of XYZ's 2012 is 2,000 beds, worth $700,000.
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Why is competitive aggression, such as Tesla's drive to become the safest car factory in the world, considered to be an independent strategy
to influence the organization's environment
Answers
Competitive aggression like the actions of Tesla are considered independent strategies because d. It is an independent response to exploit a competence or efficiency for competitive advantage.
Independent strategies:
Are based on the way a company responds to a particular issue that is independent of their competitors Usually exploit some sort of competence that enables the company involved to gain a competitive advantage over its rivalsTesla is engaged in an independent strategy because they are responding to the needs of the auto industry by exploiting the safety angle and they are doing this independently, not based on competing with another rival.
In conclusion, Tesla is engaged in an independent strategy by aiming to be the safest because it is an independent response to the industry.
Options for this question include:
a. It is a cooperative strategy with another party to reduce its costs and risks.
b. It is a private legal action taken against market encroachment.
c. It is an independent action to improve relations with competitors.
d. It is an independent response to exploit a competence or efficiency for competitive advantage.
e. It is a coalition among two parties that act jointly to accomplish a set of initiatives.
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Which one of the following statements is true about the dispersion of the distribution of sample means?
Answers
Answer:
The distribution of sample means will not be normal if the number of samples does not reach 30.
Explanation:
1. Define decision-making, and discuss programmed and nonprogrammed decisions.
2. More than half of all new businesses do not last six years. What are four general factors that cause failure of business?
3. Which of the following is an example of a company that has identified a new market?
a. Beta Inc. has acquired Venus LLC.
b. Omega Corp. has modified the packaging of all its products.
c. NutriMax has introduced its low-fat cookies in Asia.
d. Delta Inc. is offering discounts on its vacuum cleaners.
e. Redd Inc. has changed its company logo.
4. Microsoft outsources much of its code-writing functions to small firms. This is an example of big business turning to small business for________.
a. services.
b. supplies.
c. raw materials.
d. equipment.
e. capital.
Answers
Decision-making is the process of making choices about which actions to take in order to reach a goal.
What is goal?Goal is the desired result or outcome that someone or something strives to achieve. It is an aim or desired end-result that someone works to achieve. Goals can be short-term or long-term, and can apply to any aspect of life such as work, relationships, education, health, fitness, finances, and more.
Programmed decisions are those that are repeated and can be automated or routinized, while nonprogrammed decisions are those that require more research and analysis to determine the best course of action.
The four general factors that cause failure of business include poor management, inadequate capital, insufficient market research, and poor planning.
C. Such organization that has recognized a new market is NutriMax, which just launched its low-fat cookies throughout Asia.
Microsoft contracts with a lot of small businesses to write its code. This is an example of big business turning to small business for services.
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You were hired last year as the manager of accounts receivable for a medi-um sized company. In the following year, while sales on credit increased 20%, the same as overall revenues, by your efforts the average balance in accounts receivable stayed exactly the same as the last two prior year. Based upon this, which of the following statements could you make to the company President?
a. This year our accounts receivable turnover was down and our average collection period was down compared to the 2 previous years.
b. This year our accounts receivable turnover was up and our average collection period was down compared to the 2 previous years.
c. This year, our accounts receivable turnover was down and our average collection period was up compared to the 2 previous years.
d. This year our accounts receivable turnover was up and our average collection period was up compared to the 2 previous years.
Answers
Answer:
The statement that could be made to the company President is that:
b. This year our accounts receivable turnover was up and our average collection period was down compared to the 2 previous years.
Explanation:
Since the credit sales increased by 20% with overall revenue but the average balance in the accounts receivable remained exactly as the last two year's, it means that the accounts receivable turnover have improved together with the average collection period. Given the noticeable improvements that have been instituted recently, accounts receivable are being collected timely.
When the auditors obtain an understanding of internal control for the financing cycle documentation will frequently include a written description as well as a(n):________.
A. List of audit objectives.
B. Decision table.
C. Summary of tests of controls.
D. Internal control questionnaire.
Answers
At December 31, 20X4, MJB Co. had the following deferred income tax items: • • A deferred income tax liability of $15,000 related to a noncurrent asset A deferred income tax asset of $3,000 related to a current liability A deferred income tax liability of $8,000 related to a current asset Which of the following should MJB report in the noncurrent section(s) of its December 31, 20X4 balance sheet? a. DTL of $8,000 in Noncurrent Liabilities, DTA of $3,000 in Noncurrent Assets b. Net DTA of $3,000 in Noncurrent Assets c. Net DTA of $5,000 in Noncurrent Assets d. Net DTL of $20,000 in Noncurrent Liabilities e. Net DTL of $5,000 in Noncurrent Liabilities
Answers
Answer:
Moonligh Bay Resorts will report a Non-current liability of $126 million
Explanation:
The step is to determine the classification of the items in the balance sheet
This is done as follows
Description Amount ($)
Total Deferred Tax liability (168 million + 120 million) 288 million
(Deferred tax liabilities related to
both current and non-current assets)
Total Deferred tax asset (102 million + 60 million) (162 million)
The net deferred tax liability 126 million
Since, under the International Financial Reporting Standards Deferred Tax Liability is a Non-current liability, it means Moonligh Bay Resorts will report a Non-current liability of $126 million
Company DL must choose between two business opportunities. Opportunity 1 will generate $14,000 before-tax cash in years 0 through 3. The annual tax cost of Opportunity 1 is $2,500 in years 0 and 1 and $1,800 in years 2 and 3. Opportunity 2 will generate $14,000 before-tax cash in year 0, $20,000 before-tax cash in years 1 and 2, and $10,000 before-tax cash in year 3. The annual tax cost of Opportunity 2 is $4,000 in years 0 through 3.
Answers
The opportunity that the Company DL should choose if it uses a 10 percent discount rate to compute NPV is option b) Opportunity 1 because it has a higher NPV of $42,266
What is the Opportunity about?Net Present Value (NPV) is a measure of the profitability of an investment, calculated as the present value of the investment's future cash flows, minus the initial investment. It is used to determine whether an investment is financially viable and to compare different investment options.
To calculate the NPV for Opportunity 1:
Cash flow in year 0 = $14,000 - $2,500 = $11,500
Cash flow in year 1 = $14,000 - $2,500 = $11,500
Cash flow in year 2 = $14,000 - $1,800 = $12,200
Cash flow in year 3 = $14,000 - $1,800 = $12,200
NPV = ($11,500 / (1+0.1)⁰) + ($11,500 / (1+0.1)¹) + ($12,200 / (1+0.1)²) + ($12,200 / (1+0.1)³)
= $42,266
To calculate the NPV for Opportunity 2:
Cash flow in year 0 = $14,000 - $4,000 = $10,000
Cash flow in year 1 = $20,000 - $4,000 = $16,000
Cash flow in year 2 = $20,000 - $4,000 = $16,000
Cash flow in year 3 = $10,000 - $4,000 = $6,000
NPV = ($10,000 / (1+0.1)⁰) + ($16,000 / (1+0.1)¹) + ($16,000 / (1+0.1)²) + ($6,000 / (1+0.1)³)
= $41,193
Since Opportunity 1 has a higher NPV of $42,266, Company DL should choose this opportunity. The correct answer is option b)
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Company DL must choose two business opportunities. Opportunity 1 will generate $14,000 before-tax cash in years 0 through 3. The annual tax cost of Opportunity 1 is $2,500 in years 0 and 1 and $1,800 in years 2 and 3. Opportunity 3 will generate $14,000 before-tax cash in year 0, $20,000 before-tax cash in years 1 and 2, and $10,000 before-tax cash in year 3. The annual tax cost of opportunity 2 is $4,000 in years 0 through 3. Which opportunity should Company DL choose if it uses a 10 percent discount rate to compute NPV.
a) Opportunity 2 because it has a higher NPV of $41,193
b) Opportunity 1 because it has a higher NPV of $42,266
c) Opportunity 2 because it has a higher NPV of $42,266
d) Opportunity 1 because it has a higher NPV of $41,193
What is the next number in the sequence -1, 4,21,56,115,204,…?
Answers
After 204, the next number that would be in the sequence is 329 such that we would have -1, 4,21,56,115,204, 329
How to solve for the sequenceWe have to solve this by following the digits from 1 to 7 in an ascending order.
The values would have to be raised to the power of three and then subtract the value multiplied by 2.
Mathematically we are going to have the following.
1³ - (1x2) = 1 - 2 = -1
2³ - (2 x 2) = 8 - 4 = 4
3³ - (3 x 2) = 27 - 6 = 21
4³ - (4 x 2) = 64 - 8 = 56
5³ - (5 x 2) = 125 - 10 = 115
6³ - (6 x 2) = 216 - 12 = 204
7³ - (7 x 2) = 343 - 14 = 329
Hence the next number that would follow in the sequence would be 329. Such that we would have -1, 4,21,56,115,204, 329
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A firm evaluates its EOQ quantity to equal 180 cases, but it chooses an order quantity of 200 cases. Relative to the order quantity of 180 cases, the order quantity of 200 cases has:
a) higher ordering cost and higher holding cost.
b) higher ordering cost and lower holding cost.
c) lower ordering cost and higher holding cost.
d) lower ordering cost and lower holding cost.
Answers
Relative to the order quantity of 180 cases, the order quantity of 200 cases has c) lower ordering cost and higher holding cost.
What is the ordering cost ?As a result of the 200 cases being ordered even though the EOQ is 180 cases, it means that the company will save on ordering costs as they would not have to incur additional costs to order the 20 order cases they would have had to order later.
However, the EOQ also shows the most efficient amount of cases to hold due to the lowest holding cost and with the number of cases being higher than this EOQ, the holding cost would be higher.
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True or False: When firm A firstly issued 1 million shares through IPO, firm A raised $10/share so it totally raised $10 million equity fund. Now the market price for firm A's stock is $50/share, so today firm A raises a total of $50 millions from shareholders. Explain.
Answers
A total of $50 million from shareholders could not be raised.
The following information should be relevant:
There is no cash inflow of the company when the IPO proceeds are done.If there is an increase in the share price so this shows the increase in the wealth for the shareholders or the capital increment.No cash flow should be made like $50 million represent the market capitalization of the company. It presents the value of the company, the same should be used for the acquisition purpose.Therefore we can conclude that a total of $50 million from shareholders could not be raised.
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List a minimum of four reasons why you might be rejected for a job offer.
Answers
Answer:
1. You don't have enough experience for the job.
2.There was a better candidate for the job.
3.You didn't take an interview seriously.
4.Your not professional enough.
5.You might have a criminal record and this job you are applying for doesn't want someone with a bad record.
6.You don't have any recommendations.
7.Your previously bosses say that you aren't a good employee.
8.You aren't punctual. (on time)
You misidentified the post for which you applied. You made a horrible first impression. You lack the necessary experience for the position. A better applicant was available for the position.
What are the methods of accepting and rejecting Job offers ? You weren't serious about the interview. You lack professionalism. This job you are seeking for might not want someone with a criminal record since you might have one. You lack any recommendationsAccept the job:
There are many different ways to accept a job, and frequently, people do so because they are attracted to the conditions that the employer is offering, such as the pay or the work schedule.
The ideal technique to accept it is in person, outlining what you anticipate from the business and expressing gratitude for the chance.to cooperate with them
Reject the position:
A lot of people turn down jobs due to unstable economic conditions, negative company references, demanding schedules, or a counteroffer from another employer.
The ideal method to turn down a job is to send an email explaining why you can't do it without getting into too much detail, without using many words, or in a stilted, official manner.
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Collateral will not matter in the loan process if
which of the following occurs?
A. The person defaults on a loan.
B. Another item is bought in place of the original item.
C. A person makes all of their loan payments on time.
D. The bank gathers information in order to approve a loan.
Answers
In the event that the bank gathers data before approving a loan, collateral won't be taken into consideration. Option (D) is right as a result.
In the financial industry, collateral is a valuable asset that a borrower pledges as security for a loan.
For instance, the house bank is used as collateral when a home buyer gets a mortgage. The automobile is used as collateral for a car loan. When a company seeks bank funding, the company may use valuable property or equipment as loan collateral.
In the event of a default, the lender may take possession of the collateral and sell it to repay its losses.
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The accompanying graphs illustrate an initial equilibrium for the economy. Suppose that oil prices increase temporarily.
Use the graphs to show the new positions of aggregate demand (AD), short-run aggregate supply (SRAS), and long-run aggregate supply (LRAS) in both the short-run and the long-run, as well as the short-run (ESR) and long-run (ELR) equilibria resulting from this change. Then answer what happens to the price level and GDP.
Answers
In response to the temporary increase in oil prices, the short-run equilibrium experiences a higher price level and lower GDP, while the long-run equilibrium sees a higher price level and unchanged GDP.
In the short-run, the AD curve shifts leftward due to the increase in oil prices. This is because higher oil prices increase production costs for firms, leading to reduced consumption and investment spending by households and businesses.
As AD shifts leftward, it intersects with the SRAS curve at a new short-run equilibrium (ESR). At this new equilibrium, the price level increases while GDP decreases compared to the initial equilibrium.
In the long-run, the SRAS curve adjusts to the higher oil prices as firms gradually reduce production and adjust their input costs. This adjustment reflects the fact that higher oil prices affect the overall cost structure of the economy.
As the SRAS curve shifts leftward, it eventually intersects with the LRAS curve at a new long-run equilibrium (ELR). At this equilibrium, the price level is higher than the initial equilibrium due to the higher oil prices. However, GDP returns to its potential level determined by the LRAS curve.
Therefore, in response to the temporary increase in oil prices, both the price level and GDP initially decrease in the short-run but eventually stabilize in the long-run, with a higher price level and unchanged GDP compared to the initial equilibrium.
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In a market economy, decisions about which goods are produced are based on: A. what the local community has made for generations. B. what the government decides is important for society. C. what health care organizations suggest will be best for citizens. D. what businesses believe will generate the most profits.
Answers
Answer:
D.
Explanation:
Business run the economy not the government
D. What businesses believe will generate the most profits.
What is market economy?In a market economy, the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand.
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Cloud computing allows:
people to see information in cloud format.
people to access information and applications from a web browser.
computers to have cloud circuits.
information and applications to be on the computer that people use.
Answers
Cloud computing enables information and applications to be stored and accessed remotely, providing users with increased accessibility, scalability, cost-effectiveness, reliability, and security.
Cloud computing allows information and applications to be stored and accessed over the internet instead of being stored on a local computer. This enables users to access their files and applications from any device with an internet connection.
Here are the key benefits of cloud computing:
1. Accessibility: With cloud computing, information and applications are not tied to a specific computer. Users can access their files and applications from anywhere, using any device, such as a laptop, smartphone, or tablet. This provides flexibility and convenience, allowing users to work remotely or collaborate with others easily.
2. Scalability: Cloud computing offers scalability, meaning that resources can be easily scaled up or down based on demand. Organizations can quickly increase or decrease their storage or computing power, avoiding the need to invest in additional hardware or infrastructure.
3. Cost-effectiveness: Cloud computing can be cost-effective for organizations. Rather than purchasing and maintaining expensive hardware, software, and infrastructure, organizations can use cloud-based services on a pay-as-you-go basis. This allows them to only pay for the resources they actually use, reducing upfront costs and ongoing maintenance expenses.
4. Reliability and security: Cloud service providers typically have robust security measures and backup systems in place, ensuring the safety and availability of data. This can provide better protection against data loss or system failures compared to relying solely on local storage.
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On January 1, 2020, Shay Company issues $700,000 of 10%, 15-year bonds. The bonds sell for $684,250. Six years later, on January 1, 2026, Shay retires these bonds by buying them on the open market for $731,500. All interest is accounted for and paid through December 31, 2025, the day before the purchase. The straight-line method is used to amortize any bond discount.
-What is the amount of the discount on the bonds at issuance?
-How much amortization of the discount is recorded on the bonds for the entire period from January 1, 2020, through December 31, 2025?
-What is the carrying (book) value of the bonds as of the close of business on December 31, 2025?
-Prepare the journal entry to record the bond retirement.
Answers
1. The amount of the bond discount at issuance is $15,750.
2. $6,300 amortization discount has been recorded on the bonds from January 1, 2020, through December 31, 2025.
3. The carrying (book) value of the bonds as of the close of business on December 31, 2025, is $690,550.
4. The journal entry to record the bond retirement at a loss is as follows:
Journal Entry:Account Titles Debit Credit
December 31, 2025:
Bonds Payable $700,000
Retirement Loss $40,950
Cash $731,500
Bond Discounts $9,450
Bonds' issuance date = January 1, 2020
Face value of bonds = $700,000
Sales proceeds = $684,250
Bond discounts at issuance = $15,750 ($700,000 - $684,250)
Period of bonds = 15 years
Coupon rate = 10%
Bond's retirement on Jan. 1, 2026 = $731,500
Bond discount amortization method = straight-line
Annual bond amortization = $1,050 ($15,750/15)
Bond amortized after 6 years = $6,300 ($1,050 x 6)
Carrying value of bonds on December 31, 2025 = $690,550 ($700,000 - $9,450)
Carrying value of bond discounts = $9,450 ($15,750 - $6,300)
Transaction Analysis:Bonds Payable $700,000 Retirement Loss $40,950 Cash $731,500 Bond Discounts $9,450
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January 4—Sold two ice cream systems to Day Dreamer’s Ice Cream. The estimated direct labor is $8,200.00. The estimated direct material is $3,350.00. The estimated indirect material is $350.00. Day Dreamer’s is to be billed in the amount of $20,925.00 on account. A check for $5,000.00 will be collected as a deposit against that sale. The start date will be January. The date promised will be January 23. Assign the contract to Job 74.
January 4th sold two ice cream systems to Day Dreamer's Ice Cream. THe estimated direct labor is $8,000.00. The estimated direct material is $2,250.00. The estimated indirect material is $350.00. Day Dreamers is to be billed in the amount of $20,925.00 on account. A check for $5,000.00 will be collected as a deposit against that sale. The start date will bew January 7th. The date Promised will be January 23rd.
January 19—Apply from direct materials requisition $2,800.00 of direct materials. Apply from indirect materials requisition $325.00 of indirect materials. Apply from time cards s $7,950.00 of direct labor to Job 74 completing the job.Applied factory overhead is based on 25% of direct labor cost. Transfer the completed job to the COGS account from Direct Material and Indirect Material and Factory Overhead accounts. When making the journal entry for applying direct labor debit COGS for the gross pay and credit FWT Payable and FICA Tax Payable for the appropriate amounts with the net pay going to Salaries Payable
what would all the monthly journal entries be?
Answers
When the job is completed, the costs incurred in the Work in Progress account will be transferred to the Finished Goods account.The following are the monthly journal entries:January 4, 20XX: Sold two ice cream systems to Day Dreamer's Ice Cream and the total amount billed on account is $20,925.00. Cash collected on account was $5,000.00.
To record sales on account:
Debit: Accounts Receivable: $20,925
Credit: Sales Revenue: $20,925
To record cash received on account
:Debit: Cash: $5,000
Credit: Accounts Receivable: $5,000
January 7, 20XX: Job 74 began and the direct and indirect materials are requisitioned and job order costs were incurred.
To record the beginning of the job, the following entry will be made:
Debit: Work in Progress: $5,800
Credit: Direct Materials: $2,250
Credit: Indirect Materials: $350
Credit: Direct Labor: $8,000
January 19, 20XX: Direct materials of $2,800 and indirect materials of $325 were used and direct labor costs were incurred amounting to $7,950.00.
To record the use of direct materials:
Debit: Work in Progress: $2,800
Credit: Direct Materials: $2,800
To record the use of indirect materials:Debit: Work in Progress: $325
Credit: Indirect Materials: $325To record the payroll expenses:
Debit: Work in Progress: $7,950
Credit: Salaries Payable: $6,137.50
Credit: FICA Taxes Payable: $612.50
Credit: Federal Withholding Taxes Payable: $200
Credit: State Withholding Taxes Payable: $1,000
To record the application of overhead:Debit: Work in Progress: $1,987.50
Credit: Manufacturing Overhead: $1,987.50.When the job is completed, the costs incurred in the Work in Progress account will be transferred to the Finished Goods account.
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in your own idea, are "doing good for others" and "doing well for oneself" conflicting ideas? Which would you choose and why?
Answers
Answer:
The "Invisible Hand" orden a sus In his 1776 book The Wealth of Nations, Adam Smith first noted that the operation of a market system creates a curious unity between private interests and social interests. Firms and resource suppliers, seeking to further their own self-interest and operating within the framework of a highly competitive market system, will simultaneously, as though guided by an “invisible hand," promote the public or social interest. For ex- ample, we have seen that in a competitive environment, businesses seek to build new and improved products to increase profits. Those enhanced products increase society's well-being. Businesses also use the least costly combination of resources to produce a specific output because it is in their self-interest to do so. To act otherwi forgo profit or even to risk business failure. But, at the same time, to use scarce resources in the least costly way is clearly in the social interest as well. It "frees up" resources to produce something else that society desires. Self-interest, awakened and guided by the competitive market system, is what in- duces responses appropriate to the changes in society's wants. Businesses seeking to make higher profits and to avoid losses, and resource suppliers pursuing greater mon- etary rewards, negotiate changes in the allocation of resources and end up with the output that society wants. Competition controls or guides self-interest such that self- interest automatically and quite unintentionally furthers the best interest of society The invisible hand ensures that when firms maximize their profits, and resource SP ety's output and and pliers maximize their incomes, these groups also help maximize society income.
promotional Scavenger
Answers
Example of incentives promotion could be offering a discount or a special promotional price for a limited time to encourage immediate purchase.
Hence, a person who constantly seeks out these promotions is caalled a Promotional scavenger.
What is promotion?Promotion in marketing refers to any sort of marketing communication that is used to enlighten target audiences about the relative qualities of a product, service, brand, or problem, and is usually persuasive in nature.
Revenue promotions can assist your firm acquire new clients in addition to raising immediate revenue. Encourage repeat purchases and loyalty. acquire insights about customer behaviors.
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Consider the market for socks. The current price of a pair of plain white socks is $5.00. Two consumers, Jeff and Samir, are willing to pay $7.25 and $8.00, respectively, for a pair of plain white socks. Two sock manufacturers are willing to sell plain white socks for as little as $4.00 and $4.15 per pair. What is the total producer and consumer surplus (i.e., social welfare) in this market?A) $23.40 B) $7.10 C) $1.85 D) $5.25
Answers
Answer and Explanation:
The computation of the producer surplus and the consumer surplus is shown below:
The consumer surplus for Jeff is
= Willing to pay - current price
= $7.25 - $5
= $2.25
The consumer surplus for samir is
= Willing to pay - current price
= $8 - $5
= $3
So, the total consumer surplus is
= $2.25 + $3
= $5.25
Now the producer surplus for one producer
= Market price - willing to sell
= $5 - $4
= $1
The producer surplus for another producer
Market price - willing to sell
= $5 - $4.15
= $0.85
So, the total producer surplus is
= $1 + $0.85
=$1.85
Blue Llama Mining Company is analyzing a project that requires an initial investment of $3,225,000. The project’s expected cash flows are: Year Cash Flow Year 1 $300,000 Year 2 –100,000 Year 3 425,000 Year 4 450,000 Blue Llama Mining Company’s WACC is 10%, and the project has the same risk as the firm’s average project. Calculate this project’s modified internal rate of return (MIRR):
Answers
Modified Internal Rate of Return (MIRR) = (Future value of positive cash flows / present value of negative cash flows) (1/n) – 1
= ($11,75,000 /-$3,304,400) (1/5) - 1
= -0.35558x -0.8
= 0.28446
MIRR = 28.46.
The modified internal rate of return (MIRR) presupposes that initial investments are funded at the firm's financing cost and that positive cash flows are reinvested at the firm's cost of capital.
The MIRR is calculated as:
Future Value of positive cash flows:
1 $300,000
3 $425,000
4 $450,000
Total $1,175,000
Present value of negative cash flows:
0 -$3,225,000
2 -$79400 )$100,000 x 0.794)
Total -$3,304,400
The Modified Internal Rate of Return for Blue Llama Mining Company is greater than its Weighted Average Cost of Capital. Therefore, the project should be accepted.
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A suggested project requires initial fixed assets of $227,000, has a life of 4 years, and has no salvage value. Assume depreciation is straight-line to zero over the life of the project. Sales are projected at 51,000 units per year, the price per unit is $47, variable cost per unit is $23, and fixed costs are $842,900 per year. The tax rate is 23 percent and the required return is 11.5 percent. Ignore taxes. What is the DOL at the base-case output level of 51,000 units
Answers
Answer:
The answer is "11.4".
Explanation:
Please find the complete question in the attached file.
The point of breakthrough financial:
\(\to \frac{ ( \frac{(227000 \times 11.5 \%}{( \frac{1-1}{1.115^4})}-\frac{227000}{4})}{\frac{(1-23 \%)+842900+ \frac{227000}{4})}{(47-23)}}\\\\\\\to \frac{ ( \frac{(26,105}{( \frac{0}{1.5456084})}-56,750)}{\frac{(0.77)+842900+56,750)}{(24)}}\)
\(\to 38416.19\\\\\to DOL= \frac{38416.19 \times (47-23)}{(38416.19 \times (47-23)-842900)} \\\\\)
\(=11.4\)
Charles is worried about plagiarism in a report he is writing for his manager. He needs to paraphrase several passages in the report. What advice would you give him
Answers
Answer: Write your own version by carefully changing three or four words from the original.
Explanation:
Create and Query an Inventory
Problem: A local company would like to be able to search their shipping supplies inventory in an easy
manner. They have given you sample data shown in Table 6-7.
Table 6-7 Inventory Data
Inventory
Number
Module 6: In the Lab
CX1D1
ED7XL
T562W
VP45L
DC 30W
LX550
SR123
Description
mailing labels
bubble wrap
packing tubes
corrugated boxes
packing tape
poly mailers
packing peanuts
Unit
carton
roll
single
bundle
case
carton
bag
Quantity in
Stock
25
4
14
17
11
9
5
List Price
$12.86
$27.59
$ 1.75
$26.80
$65.00
$ 8.99
$21.00
Perform the following tasks:
Part 1: Create the criteria range, the table, and the extract range with formatted headings and data.
Save the workbook. Perform the following extractions.
a) all inventory items with more than 10 in stock
b) all inventory items in cartons
c) all inventory items under $25
d) all inventory items with 10 or less in stock and a list price of less than $10
Part 2: Do you think small companies without extensive database experience might use tables such as
this every day? What would be some advantages and disadvantages? What calculated fields might you
add to this table?
Answers
Answer:
Part 1:
To create the criteria range, table, and extract range with formatted headings and data, follow these steps:
Open a new Excel workbook and create a new sheet.
In cells A1 to G1, enter the following headings: Inventory Number, Description, Unit, Quantity in Stock, List Price, Criteria 1, Criteria 2.
In cells A2 to G8, enter the data from Table 6-7.
Select cells A1 to G8 and click on the "Insert" tab.
Click on "Table" in the "Tables" group and select "Table" from the dropdown menu.
In the "Create Table" dialog box, make sure that "My table has headers" is selected and click "OK".
The table will be created with formatted headings and data.
To create the criteria range, enter the following criteria in cells F2 and F3 respectively: ">10" and "carton".
In cells H2 to H5, enter the following formulas:
=IF(AND(D2>10),A2,"")
=IF(AND(C2="carton"),A2,"")
=IF(AND(E2<25),A2,"")
=IF(AND(D2<=10,E2<10),A2,"")
Drag the formulas down to cells H3 to H8.
The extract range with the required data will be displayed in column H.
Part 2:
Yes, small companies without extensive database experience might use tables such as this every day. The advantages of using tables include easy data entry and management, quick access to information, and the ability to easily filter and sort data. The disadvantages could include limited functionality and scalability compared to more sophisticated database systems.
Some calculated fields that could be added to this table include:
Total Inventory Value: calculated by multiplying the Quantity in Stock and List Price fields
Inventory Turnover: calculated by dividing the Quantity in Stock by the average monthly sales volume
Reorder Point: calculated by multiplying the average monthly sales volume by the lead time for ordering new inventory.
I think that will be heplful for you
Explanation:
Follow these steps to create table, criteria range and extract range with formatted heading and data:
Open a new Excel Workbook and create a new sheet.
In cells A1 to G1, enter the following headings, Inventory Number, Description Unit, Quantity in stock, list price, Criteria 1, Criteria 2.
In cells A2 to G8, enter the data from Table 6-7
Select cells A1 to G8 and click on the "insert" tab.
Click on "Table" in the "Tables" group and select "Table" from the dropdown menu.
In the create Table dialogue box, make sure that "My Table has headers" is selected and click "OK".
The table will be created with formatted headings and data.
To create the criteria range enter the following criteria in cells F2 and F3
In cells H2 to H5, enter the following formulas:
=IF(AND(D2>10), A2,")
=IF(AND(C2="carton"),A2,"")
=IF(AND(E2<25),A2,"")
=IF(AND(D2<=10,E2<10),A2,"")
Drag the formulas down to cells H2 toH8.
The extract range with the required data will be displayed in column H.
What is total inventory?sure, small businesses without a lot of database experience might utilize these tables frequently. Tables have the advantage of simple data entry and maintenance, quick information access, and simple data filtering and sorting. Limited funtionality and scalability in comparison to more advanced database systems could be the drawback.
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