Challenging Business Problems with Detailed Answers

young company lends dobson industries $40,000 on august 1, 2022, accepting a 9-month, 9% interest note. if young prepares its financial statements as of december 31, 2022, what adjusting entry must it make?
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coachlight incorporated uses a periodic inventory system. the company purchased 200 units of inventory at $15.00 per unit and 300 units at $16.00 per unit. what is the weighted average unit cost for these purchases of inventory? (round your final answer to two decimal places.)
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larry, moe, and curly have formed the three stooges general partnership. moe is concerned that he may one day be personally liable if someone is injured and sues the business over larry's wild antics. what should the three general partners do to prevent such personal liability?
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the balance sheet above shows the financial situation for the jamestown national bank. the central bank has set a required reserve ratio of 10%. if the bank does not sell any of its securities, what is the maximum amount of additional loans the bank in jamestown can undertake?
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cliff company wants to purchase an asset for $40,000 but needs to earn a return of 8%. the expected year-end net cash flows are $12,000 in each of the first three years, and $16,000 in the fourth year. what is the machine's net present value (round to the nearest whole dollar)?
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which of the following is the process of learning how other firms do things in an exceptionally high-quality manner? a.value-added analysis b.benchmarking c.statistical quality control d.reducing cycle times e.outsourcing
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an aging of a company's accounts receivable indicates that $9,000 are estimated to be uncollectible. if allowance for doubtful accounts has a $3,200 debit balance, the adjustment to record bad debts for the period will require a
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a firm has a tax burden ratio of 0.6, a leverage ratio of 1.3, an interest burden of 0.8, and a return on sales of 12%. the firm generates $2.5 in sales per dollar of assets. what is the firm's roe? (do not round intermediate calculations. round your answer to 2 decimal place.)
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on april 30, 2019, one year before maturity, bounty inc. retired $900,000 of 8% bonds payable at 103% of par. the book value of the bonds on april 30 was $867,600. what is the gain or loss on the retirement of the bonds?
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the fixed asset turnover ratio measures the: multiple choice useful life of long-lived assets. the average difference between book value and disposal value of fixed assets. useful life of intangible assets. efficiency with which the investment in fixed assets produces revenue.
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39. an express warranty is created when a seller or lessor indicates that the goods will confirm to: a) all affirmation of fact or promise made about the goods; b) any model or sample of the goods; c) any description of the goods; d) any one of the above; e) none of the above.
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1. how much cash is paid to acquire inventory during year 2021? 2. how much cash is paid for operating expenses (excluding depreciation) during year 2021? hint: examine prepaid expenses and wages payable.
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a popular technology company just released a new smartphone that it believes will revolutionize the industry. after the product announcement, marketers set up automatic news and social media alerts to find out what people are saying about the new product. this is an example of
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binder corp. has invested in new machinery at a cost of $1,450,000. this investment is expected to produce cash flows of $640,000, $715,250, $823,330, and $907,125 over the next four years. what is the payback period for this project? (round your answer to two decimal places.)
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fetzer company declared a $0.15 per share cash dividend. the company has 320,000 shares authorized, 304,000 shares issued, and 12,800 shares in treasury stock. the journal entry to record the payment of the dividend is:
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Refer to the balance sheet above. Luthers quick ratio for 2006 is closest to ________. A) 0.87B) 1.75 C) 0.88 D) 1.31
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suppose that candy producers create a positive externality equal to $1 per pound of candy. further suppose that the government offers a $1-per-pound subsidy to the producers. what is the relationship between the equilibrium quantity and the socially optimal quantity of candy?
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A life insurance policy which contains cash values that vary according to its investment performance of stocks is calledA) Increasing Term LifeB) Modified Whole LifeC) Variable Whole LifeD) Adjustable Whole Life
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Sales contracts, not real estate but other sales of goods- Parties to sales or lease contracts are free to agree to terms different from those stated in the UCC.- Whenever there is a conflict between a common law contract rule and the state statutory law based on the UCC, the UCC controls.
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a stakeholder objects to the steps of your analysis. what are some appropriate ways to respond to this objection? select all that apply. 1 point defend the results of your analysis communicate the assumptions you made in your analysis take steps to investigate your analysis question further explain why you think any discrepancies exist
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cement in belgium is sold at a uniform delivered price throughout the country. that is, the same price is set for each customer, including transportation costs, regardless of where the customer is located. the same practice is also found in the sale of plasterboard in the united kingdom. are these cases of price discrimination? explain
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when adam and tori got married 15 months ago, adam moved into the house that toni had owned and lived in for the prior 3 years. they recently decided to move to a more suburban neighborhood and sold the house. what is the maximum amount of gain from the sale of the personal residence that adam and tori can exclude from income taxation?
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long island lefty provides retailers and other businesses with the latest and the best products for left-handed consumers. it buys all types of products from a variety of manufacturers and stores the merchandise in its new york warehouse until purchased by buyers. long island lefty does not sell to end users and is an example of a(n):
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how would the risk of investing in a single stock compare with the risk of investing in a mutual fund? why?
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