Answer:
Cash flow from operating activities
Explanation:
Cash flows from operating activities of cash flow statement show the various sources and uses of cash from ongoing regular business actvitieis of a company in a particular period.
Items that appear under the cash flows from operating activities normally include net income from the income statement, adjustments made to the net income, and changes in working capital.
One of the component of working capital is account receivables of a company which shows the amount owed to the company in the short term. The $3,000 received by a company from customers is an indication that $3,000 of the amount owed to the company has been paid. Therefore, the account receivable will be reduced by the $3,000 and the Cash flows from operating activities will increase by $3,000.
Therefore, the $3,000 received from customers will appear under the cash flow from operating activities section of a cash flow statement.
Samantha owns 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the end of the year is:
Answer:
$47,000
Explanation:
Stock basis at the time of sales = Stock basis at the beginning + Ordinary income for the part year - Distribution received
it is provided that opening Stock = $60,000
Ordinary income for the part-year = $22,000
Distribution amount received = $35000
Her stock basis at the end of the year is = $60,000 + $22,000 - $35,000
= $82,000 - $35,000
= $47,000
A bowling alley costs $490 comma 000490,000 and has an estimated life of 1010 years (SV10equals=$35 comma 00035,000). a. Determine the
Answer:y costs $d life of 1010 years (SV10equals=$35 comma 00035,000). a. D490 comma 000490,000 and has a
wling alley costs $490 comma 000490,000 and has an estimated life of 1010 years (SV10equals=
Explanation:etermine the
wling alley costs $490 comma 000490,000 and has an estimated life of 1010 years (SV10equals=$35 comma 00035,000). a. Determine t
When you decide to go and have a dinner with your friends in a world class hotel such as the Golden Tulip or La Pleasure Beach, perhaps you would be horrified by the high price you would have to pay for a bottle of soft drink such as Coca Cola or Pepsi Cola or wine or even bottled water. Perhaps you begin to ponder why the same commodity that you can get at a supermarket at one tenth the hotel price is going for such an astronomical price at the hotel. Of course, such facilities will have a warning such “you are not allowed to bring in your own food or drinks” posted at appropriate places in the facility for the attention of customers.In another scenario, you enter a designer shop to buy clothes with a designer label for a friend on their birthday or on Valentine day and you reckon the clothes are so much expensive compared to similar own brand clothes from a clothing or chain store, even though they may cost a similar amount to produce. Using your knowledge in basic economics, especially of the concept of demand and supply, attributes of a competitive market and price elasticity of demand, briefly discuss the following: A. Why may a hotel charge such very high prices for wine, soft drinks or even bottled water and yet quite reasonable prices for food and still get away with such high prices? B. Why are designer shops able to price their clothes so very expensive and yet still get clients even though similar clothes that are available in a supermarket chain shops cost pretty much less? Your answer should not occupy more than one and half pages of A4 paper.
Answer: The answer is given below
Explanation:
A. A hotel charge such very high prices for wine, soft drinks or even bottled water and yet quite reasonable prices for food and still get away with such high prices because the tax rate charged to the hotels may be high. Another reason is due to the reputation of the hotel and also due to the fact the hotel has many services which are rendered to its client and therefore they have to take the cost into consideration when services are provided which can come in form of high prices drinks.
The main reason why food may be cheaper than drinks is that drinks are branded unlike the hotel food which is prepared at the hotel. Also, drinks have tax, which therefore the hotel takes into consideration and increase the price and moreover, the hotels cater for an audience that has inelastic demand, therefore when price increases, the customers are willing to pay a higher price since there's minimal change.
B. The main reason why designer clothes are expensive and still get customers and get clients is because of their reputation and they have a goodwill which has been attached to their brand, therefore consumers will be willing to pay a higher price. Also, the good is a veblen goods which implies that rise in price leads to rise in demand and the good I valued more by the consumers when the price increase.
Suppose there is an improvement in technology in this market and the price of lamps, a complementary good, increases. What changes do you predict in the equilibrium price and quantity
Answer:
Complementary goods are those goods that, as the word implies, are often used together. For example: milk and cereals, or gasoline and cars.
If the price of a complementary good increases, then, the price of the other complementary good will likely increase as well. The quantity demanded for both will fall, will the supply will increase.
This is exactly what would happen in the case, the price of the good that is complementary to lamps will increase, and its quantity demanded will fall.
The allowance for doubtful accounts, which appears as a deduction from accounts receivable on a balance sheet and which is based on an estimate of bad debts, is an application of the
Answer:
The answer is: application of matching principle and contra-asset
Explanation:
The allowance for doubtful accounts is a management estimate of bad debts (amount owed by the customers that is deemed uncollectible). In order to demonstrate the recoverable amount of the accounts receivable, it is usually applied as a reduction in the asset (accounts receivable) by applying contra asset (that is, a way of netting the two accounts).
The estimate of bad debt is in conformity with the matching principle of accounting. The principle states that the revenue generated in a particular accounting period must be matched against the expense for that particular period. In this instance, the the bad debt expense is the expense.
On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer:
May 10, 2020, 1,900 shares issued at $13
Dr Cash 24,700
Cr Common stock 7,600
Cr Additional paid in capital 17,100
The common stock account increases using the pay value as reference. For example, if the common stock account = $200,000 and the par value of the stocks = $4, then we know that the company has 50,000 common stocks outstanding.
If investors pay any amount over the stocks' par value, that amount must be reported as additional paid in capital, in this case for common stock.
What force have caused cost and management accounting system designed decade's ago to become less relevance and less valuable for organizational employee's in today's global competitive environment.
Answer with its Explanation:
The forces that had lessened the importance of the cost and management accounting systems in today's dynamic world are as under:
The ancient bookkeeping and the costing techniques were very time consuming and the accounting systems were also not integrated with the financial accounting systems. Today we have very robust and integrated systems which helps the management of the business operations nation wide with greater security and better performance than the previous old versions.The complexity of the organization operations have resulted in origination of additional management accounting techniques that were adapted in the form of automated software, that are used to produce management reports on daily, weekly, monthly and yearly basis. The examples include the Throughput costing, Activity based costing, Bench-marking techniques, etc.The activities automation has led to attaining of maximum efficiency possible in some areas which wasn't possible in the past. The robots management systems, activity automation, etc has increased the fixed cost share in the total cost and the variable cost has become a very minute share of the total cost of the activity. This variable cost which is often referred to as controllable cost, is very less in percentage share of total cost today than 10 years back. In the future, we will see it as a very very very small share of total cost. This makes the today's management costing techniques obsolete and requires new solutions, new techniques, new softwares, etc. to manage the companies operations.The gift from Rebecca Smith (see previous question) earned $50,000 this year. The city council decides that these resources should be used to construct new sand volleyball courts for public use. Which fund should be used to account for the construction of the courts
Answer: a. Capital Projects Fund
Explanation:
This is a fund that is used by the Government in it's accounting records to record the various transactions related to embarking on a capital project.
It includes how the funds were sourced and how they will be disbursed.
Once the project is finished this fund is usually terminated.
Paparo Corporation has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total Activity Assembly $ 813,600 48,000 machine-hours Processing orders $ 65,195 1,700 orders Inspection $ 110,592 1,440 inspection-hours Data concerning the company's product Q79Y appear below: Annual unit production and sales 550 Annual machine-hours 1,140 Annual number of orders 120 Annual inspection hours 25 Direct materials cost $ 43.00 per unit Direct labor cost $ 41.33 per unit According to the activity-based costing system, the average cost of product Q79Y is closest to:
Answer:
$132.1 per unit
Explanation:
For determining the average cost of product Q79Y first we have to solve the activity rate for each activity i.e shown below;
For assembly
= $813,600 ÷ 48,000 machine hours
= $16.95 per machine hour
For processing order
= $65,195 ÷ 1,700 orders
= $38.35 per order
For inspection
= $110,592 ÷ 1,440 inspection hours
= $76.8 per inspection hours
Now the total activity rate is
= $76.8 + $38.35 + $16.95
= $132.1 per unit
Now the average cost of product is
= Direct materials + direct labor + assembly + processing orders + inspection
= $43 + $41.33 + $35.132 + $5.438 + $3.7701
= $132.1 per unit
Working notes
For Assembly
= ($16.95 × 1,140 ) ÷ 550
= $19,323 ÷ 550
= $35.132
For Processing orders
= ($38.35 × 78) ÷ 550
= $5.438
For Inspection
= ($76.8 × 27) ÷ 550
= 3.7701
What are the kinds of purchases for which you’ll "spare no expense"? What kinds of purchases do you want to buy spending as little as possible? What are the major differences between these two categories that drive your attitude regarding price?
Answer:
"Spare no Expense" Purchases
When purchasing long-term items (assets) which cannot be consumed within a short-term period, one tends to "spare no expense." These purchases are dictated by their quality and not price. For example, in constructing a building an individual or an entity does not consider the price as a deciding factor. Instead, the entity goes for the best quality at whatever price. In such a situation, it can be described as "sparing no expense" because it can spend as possible as is needed to ensure that the quality of the construction was of the highest standard. A wealthy man does not spare any expense to receive medical treatment. Vacationists spare no expense to go on vacation
These purchases or items come with high prices and they last longer than a year.
On the other hand, one does not want to spend much resources on goods that are not durable. So, the person involved tend to spend as little as possible. No one wants to buy expensive food items. But, the same person can pay for an exorbitant car. No one wants to expend much resources on inner wears, but the same person can spend thousand for the outer wears, to put up appearances.
Ostentatious goods that convey image attract higher prices much more than private goods that others co not care whether you use them or not. This accords with our human natural way of believing in appearances.
The major factors that differentiate between these two categories that drive our attitude regarding price include:
a) Scarcity, b) Longevity, c) Quality, d) Price, e) Durability, f) Ostentation
Explanation:
The expression "spare no expense" means to spend as much financial resources as needed in order to make something happen or bring about an outcome.
Wayman Corporation reports the following amounts in its December 31, 2021, income statement.
Sales revenue $ 425,000
Income tax expense $ 55,000
Interest expense 25,000
Cost of goods sold 135,000
Salaries expense 45,000
Advertising expense 35,000
Utilities expense 55,000
Required:
Prepare a multiple-step income statement.
Answer:
Wayman Corporation
Multiple-step income statement
Sales $425,000
Less: Cost of goods sold $135,000
Gross Profit $290,000
Operating Expenses
Salary Expenses $45,000
Utility Expenses $55,000
Advertising Expenses $35,000
Total Operating Expenses ($135,000)
Net Operating Income $155,000
Other Income and Expenses
Interest expense $25,000
Net Income before Tax $130,000
Income tax expense $55,000
Net Income $75,000
A project is expected to increase inventory by $17,000, increase accounts payable by $10,000, and decrease accounts receivable by $1,000. What is the project's cash flow from the changes in net working capital at time zero (today)?
Answer:
-$6,000
Explanation:
Computation of the project's cash flow from net working capital at time zero
Using this formula
Projected Cash flow at time zero = -Increase inventory + Increase accounts payable Decrease accounts receivable
Let plug in the formula
Projected Cash flow at time zero= -$17,000 + 10,000 + 1,000 =
Projected Cash flow at time zero= -$6,000
Therefore the project's cash flow from the changes in net working capital at time zero will be -$6,000
The project's cash flow from the changes in net working capital at time zero is -$6,000.
Given that,
A project is expected to increase inventory by $17,000, increase accounts payable by $10,000, and decrease accounts receivable by $1,000.Based on the above information, the calculation is as follows:
Projected Cash flow at time zero = Increase inventory + Increase accounts payable + Decrease accounts receivable
= -$17,000 + 10,000 + 1,000
= -$6,000
Therefore we can conclude that the project's cash flow from the changes in net working capital at time zero is -$6,000.
Learn more: brainly.com/question/13549064
Skolnick Corporation has provided the following information: Cost per Unit Cost per Period Direct materials $ 5.00 Direct labor $ 4.50 Variable manufacturing overhead $ 1.60 Fixed manufacturing overhead $ 112,000 Sales commissions $ 1.20 Variable administrative expense $ 0.50 Fixed selling and administrative expense $ 35,200 Required: a. If 8,000 units are produced, what is the total amount of direct manufacturing cost incurred? (Do not round intermediate calculations.) b. If 8,000 units are produced, what is the total amount of indirect manufacturing costs incurred?
Answer:
Results are below.
Explanation:
Giving the following information:
Direct materials $5.00
Direct labor $4.50
Variable manufacturing overhead $1.60
Fixed manufacturing overhead $112,000
First, we need to calculate the direct production costs if 8,000 units are produced:
Direct costs= direct material + direct labor
Direct costs= (5+4.5)*8,000= $76,000
Now, the indirect costs of production for 8,000 units.
Indirect costs= total variable costs total fixed costs
Indirect costs= 1.6*8,000 + 112,000
Indirect costs= $124,800
Companies increasingly strive to achieve the ______ performance when formulating their corporate strategy.
Answer:
triple bottom line
Explanation:
Companies increasingly strive to achieve the triple bottom line performance when formulating their corporate strategy. The triple bottom line (TBL) is a framework used in business that focuses on equally on social/environmental concerns as well as profits, thus creating three equal points of interest (bottom lines) which are profit, people, and the environment. This leads to a successful and balanced company.
Michael is unaware that it is very important for those from Japan to establish close personal relationships before talking about business. His violation of such ____, which concerns routine social conventions, is probably the main reason that he fails to have Norio sign the contract.
Answer:
Mores
Explanation:
Mores are the behaviors and customs that people have in a particular place and usually, they expect that you adhere to them when you are there and you would probably be judge based on that. According to this, the answer is that Michael's violations of such mores, which concerns routine social conventions, is probably the main reason that he fails to have Norio sign the contract because he didn't follow the custom people have in Japan to establish close personal relationships before talking about business and that affected his image because Michael's behavior was not acceptable for them.
Repbulic LLC exchanged land used in its business for some new land to be used in the business. Republic LLC originally purchased the land it exchanged for $37,500. The new land had a fair market value of $39,750. Arlington also received $11,500 of cash in the transaction. What is Republic LLC's recognized gain or loss on the exchange
Answer:
Republic LLC's recognized gain on the exchange is $11,500
Explanation:
In order to calculate Republic LLC's recognized gain or loss on the exchange we would have to calculate first the Realized gain and then compare it with the amount received by cash and value with less amount would be the recognized gain or loss on the exchange.
Therefore, Realized gain=Fair Market value of property received + Cash received - Adjusted basis of the property transferred
Realized gain=$39,750+$11,500-$37,500
Realized gain=$13,759
The cash in the transaction was $11,500.
Therefore, Republic LLC's recognized gain on the exchange is $11,500
Haack Inc. is a merchandising company. Last month the company's cost of goods sold was $61,200. The company's beginning merchandise inventory was $12,400 and its ending merchandise inventory was $22,000. What was the total amount of the company's merchandise purchases for the month
Answer: $70,800
Explanation:
Cost of Goods sold are the costs of either producing or acquiring the goods the company plans to sell and Purchases form part of them.
Cost of Goods Sold = Opening Merchandise inventory + Purchases - Closing Merchandise inventory
61,200 = 12,400 + Purchases - 22,000
Purchases = 61,200 - 12,400 + 22,000
Purchases = $70,800
Suppose the entire banking system has $50 million in excess reserves and a required reserve ratio of 10 percent. The deposit-creation potential of the banking system is:
Answer: $500 million
Explanation:
The required reserve ratio is the fraction of the total deposit that a bank recieves which is mandated by the central bank to be kept and should not be given out.
If the entire banking system has $50 million in excess reserves and a required reserve ratio of 10 percent. The deposit-creation potential of the banking system will be:
= $50million/10%
= $50million/0.1
= $500 million
If the real money demand is greater than the real money supply, interest rates must rise to reach equilibrium in the money market as institutions sell bonds to obtain more money.1. True2. False
Answer:
2. False
Explanation:
The market for money is like the market for any other good: if demand is higher than supply, then, the price of money (the interest rate), will have to be lowered, so that money becomes cheaper and more abundant, and supply and demand become equal and reach equilibrium.
In this case, the centrla bank needs to lower the interest rates by buying bonds. When the central bank buys bonds, it prints more money that is put in the market, effectively increasing the supply of money, and lowering the interest rate in the meantime.
Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Plant manager salary for the Iowa City, Iowa, plant b. Maintenance supplies c. Salary of process engineers d. Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant e. Scents and fragrances used in making soaps and detergents f. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant g. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant h. Packaging materials i. Resins for body wash products j. Depreciation on the Auburn, Maine, manufacturing plant
Answer:
a. factory overhead cost
b. factory overhead cost
c. factory overhead cost
d. direct labor cost
e. direct materials cost
f. direct labor cost
g. factory overhead cost
h. direct materials cost
i. direct materials cost
j. factory overhead cost
Explanation:
Direct Material Costs and Direct Labor Costs are easily traceable to the cost object whilst its difficult to trace Factory Overhead Costs to the cost object.
Assume that the demand curve for MP3 players shifts to the right and the supply curve for MP3 players shift to the left, but the supply curve shifts more than the demand curve. As a result:________
a. both the equilibrium price and quantity of MP3 players will decrease.
b. the equilibrium price of MP3 players will decrease; the equilibrium quantity will increase.
c. the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will decrease.
d. the equilibrium price of MP3 players will increase; the equilibrium quantity will decrease.
Answer:
The correct answer is the option D: the equilibrium price of MP3 players will increase; the equilibrium quantity will decrease.
Explanation:
First of all, the supply and demand curves are the graphical representation of the price and the quantity demanded and supplied respectively in each case. Moreover, in the graphic when both curves are in equilibrim that means that there is a single point in where the price and the quantity are established together for the market. Furthermore, when there is a shift of any curve that point will be changed so when there is a shift in the demand curve to the right the price will increase and the quantity will increase but if there is a shift in the supply change to the left and that shift is greater then the price will increase but the quantity will decrease.
can someone tell me how this "attain" amount is calculated PS3 price is 299$ PS3 sold are 11.25 Million per unit total cost is 260.89 $ profit is 38.11 $ Attain = 428.74 do u know how this 'attain' amount is calculated
Answer:
IDK which I need also
Explanation:
....................................................
Answer:
I'm in middle school, sorry mate.
Explanation:
Gelb Company currently manufactures 41,000 units per year of a key component for its manufacturing process. Variable costs are $4.05 per unit, fixed costs related to making this component are $83,000 per year, and allocated fixed costs are $78,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.50 per unit. Calculate the total incremental cost of making 41,000 units and buying 41,000 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier
Answer and Explanation:
1. The computation of total incremental is shown below:-
Incremental Costs to Make
Relevant Amount Relevant Fixed Total Relevant
Per Unit Costs Costs
Variable Cost
Per Unit $4.05 $166,050
(41,000 × $4.05)
Fixed manufacturing
cost $83,000 $83,000
Total incremental
cost to make $249,050
Incremental Costs to Buy
Purchase Price Relevant Fixed Total Relevant
Per Unit Costs Costs
Purchase Price
Per Unit $143,500
($3.50 × 41,000)
Total Incremental Cost to Buy $143,500
2. The company should buy from the outside supplier as its a lower and the total incremental cost is $143,500
Susan can brew 5 gallons of root beer in an hour or she can make 4 pizzas in an hour. Becky can brew 7 gallons of root beer in an hour or she can make 5 pizzas in an hour. Susan's opportunity cost of making a pizza is 4 gallons of root beer. Becky's opportunity cost of making a pizza is 7 gallons of root beer.
Requried:
Who has an absolute advantage in making pizza?
Answer:
Becky
Explanation:
A person has absolute advantage in the production of a good if she produces more quantities of the good compared to the other person.
Susan produces 4 pizzas in an hour while Becky produces 5 pizzas in an hour. So, Becky has an absolute advantage in the production of pizzas.
I hope my answer helps you
Milano Gallery purchases the copyright on an oil painting for $300,000 on January 1, 2017. The copyright legally protects its owner for 12 more years. The company plans to market and sell prints of the original for 19 years. Prepare entries to record the purchase of the copyright on January 1, 2017, and its annual amortization on December 31, 2017.
Answer and Explanation:
According to the situation, the solution of journal entries are as follows
1. Copyright Dr $300,000
To Cash $300,000
(being the purchase of copyright is recorded)
Here, we debited the copyright as it increased the assets and credited the cash as it decreased the assets
2. Amortization expense Dr ($300,000 ÷ 12 years) $25,000
To Accumulated amortization $25,000
(being the annual amortization is recorded)
Here we debited the amortization expense as it increased the expenses and credited the accumulated amortization as it decreased the assets
Brief Exercise 5-3 Flint Company buys merchandise on account from Windsor, Inc.. The selling price of the goods is $1,050, and the cost of the goods is $660. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer:
Flint Company
DR Merchandise $1,050
CR Accounts Payable $1,050
(To record purchase of merchandise)
Windsor Inc.
DR Accounts Receivable $1,050
CR Sales $1,050
(To record sale of merchandise)
DR Cost of Goods Sold $660
CR Merchandise Inventory $660
(To record change in stock from sale of merchandise)
When longer-term employees' salaries are lower than those of workers entering the firm today, ______ has occurred.
Answer: Salary compression
Explanation:
Salary compression is a situation that occurs when there is a negligible differences in pay between the workers in an organization despite the experience and skills level.
It usually occurs when the pay of the current employees that are working with a company does not keep up with the rise in market pay rate thereby giving rise to a situation whereby new employees are employed at a identical pay or better pay to those that have been at the organization.
An example of a political force of concern in market screening is a(n) Group of answer choices change in voter registration numbers. entry barrier established by the host government. local blue law prohibiting sales on Sunday. change in the general platform of the ruling democratic party.
Answer:
entry barrier established by the host government
Explanation:
Market screening is a term in business or economics which describes a process of markets analysis in accordance to the total competencies and business objectives of the company. In other words, it is the company's evaluation of a tradable asset for the purpose of determining a fair deal for the asset.
Hence, an example of a political force of concern in market screening is entry barrier established by the host government.
Control of inventory should begin as soon as the inventory is ordered. Which of the following internal control steps is not done to meet this goal?
a. check the invoice to the receiving report
b. check the invoice to the purchase order
c. check the invoice with the person who specifically purchased the item
d. check the invoice extensions and loads
Answer:
C. check the invoice with the person who specifically purchased the item.
Explanation:
Inventory control is explained to be the steps or patterns used in ensuring availability and delivery of products, overseeing its restock and making sure a good record of sales is been kept. In as much as the procedures purpose is to maximize profits without maintaining less customer relation or satisfaction with minimal investment from the inventory. It is processes ranges from checking invoice of order been received to checking of invoice of purchase order, also checking the invoice extensions before the loading and dispatches.
Also preparation of budget inventory is paramount in the business smooth running.
zippy had cash inflows from operations $66,500; cash outflows from investing activities of $51,000; and cash inflows from financing of $29,000. The net change in cash was:
Answer:
i wouldchoosetheanswer to 687 or9849
Explanation: