Answer:
$38
Explanation:
Calculation to determine the cost savings from manufacturing the component internally
Cost savings =$220-(Direct materials $ 70 +Direct labor $70+ Variable factory overhead $42)
Cost savings=$220-$182
Cost savings=$38
Therefore the cost savings from manufacturing the component internally will be $38
n March 2021, the Phillips Tool Company signed two purchase commitments. The first commitment requires Phillips to purchase inventory for $103,000 by June 15, 2021. The second commitment requires the company to purchase inventory for $153,000 by August 20, 2021. The company's fiscal year-end is June 30. Phillips uses a periodic inventory system. The first commitment is exercised on June 15, 2021, when the market price of the inventory purchased was $86,500. The second commitment was exercised on August 20, 2021, when the market price of the inventory purchased was $121,500. Required: Prepare the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments. Assume that the market price of the inventory related to the outs
Answer:
1.June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
Dr Estimated liability on purchase commitment $11,800
Cr Cash $153,000
Explanation:
Preparation of the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments
1. June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
($103,000-$86,500)
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
($141,200-$121,500)
Dr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
Cr Cash $153,000
Jamal is a web designer working on an e-commerce website for a client. He is looking for information regarding the buying habits of 50- to 60-year-old males who have no children. What sources are considered reliable?
Select all that apply.
published marketing survey
government data
blogs
Wikipedia
Looking for cost savings in administrative areas, the vice-president for human resources at McMahon Corporation asked his assistant to collect data on the employee cafeterias in the four McMahon locations around the country. After two days, the assistant returned with the following data for the previous year. Mobile Pecos Spokane Lansing Labor-hours 35,000 55,000 22,500 5,250 Meals served 114,000 216,000 74,000 13,500 Required: a. Compute the partial productivity measures for labor for the four locations. (
Answer:
McMahon Corporation
Partial productivity measures for labor for the four locations:
Mobile Pecos Spokane Lansing
Labor productivity 3.26 3.93 3.29 2.48
(meals per labor
hour)
Explanation:
a) Data and Calculations:
Mobile Pecos Spokane Lansing Total
Meals served 114,000 216,000 74,000 13,500 417,500
Labor-hours 35,000 55,000 22,500 5,250 117,750
Labor productivity 3.26 3.93 3.29 2.48 3.55
b) Labor productivity is computed as total output divided by labor-hours (labor input). It is the manpower or workforce productivity. It is one of the productivity measures with capital as the other measure.
According to the video, what qualities are needed by Merchandise Displayers and Window Trimmers? Check all that
apply
O creativity
O leadership
O marketing skills
ability to work under pressure
O research skills
O ability to speak clearly
Answer:
he/she is correct
Explanation:
i can verify
The qualities needed by Merchandise Displayers and Window Trimmers are creativity, marketing skills, and the ability to work under pressure.
Retail merchandise displays are set up for maximum impact by merchandise displayers and window trimmers, who also need the ability to multitask under time constraints.
The purpose of merchandise displays is to draw in and entice customers by giving a special presentation of a store's merchandise. To achieve this requirement, they must have strong marketing abilities that enable them to interact with clients successfully.
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If an IPO is underpriced then the: a. Issue is less likely to sell out. b. Issuing firm is guaranteed to be successful in the long term. c. Investors in the IPO are generally unhappy with the underwriters. d. Issuing firm receives less money than it should have. e. Stock price will generally decline on the first day of trading.
Answer:
D)Issuing firm receives less money than it should have
Explanation:
An initial public offering known as (IPO) can be regarded as process involving offering of shares that belong to private corporation to the public withing new stock issuance. With the help of Public share issuance can raise capital from public investors. It should be noted that If an IPO is underpriced then the Issuing firm receives less money than it should have
Marketing managers must choose between the various forms of advertising media available as they develop their communication plans.
a. True
b. False
Answer:
true
Explanation:
Which situation(s) would be considered unethical design practices?
Select all that apply.
copying a design idea
making false claims about a product
designing a political campaign
using your own photographs
Answer:
I think A
Explanation:
copying a design idea
On January 1, 2017, Fisher Corporation purchased 40 percent (74,000 shares) of the common stock of Bowden, Inc. for $980,000 in cash and began to use the equity method for the investment. The price paid represented a $66,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a 15-year remaining life. All other assets were considered appropriately valued on Bowden's books.
-Bowden declares and pays a $94,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $408,000 in 2017 and $356,000 in 2018. Each income figure was earned evenly throughout its respective year.
-On July 1, 2018, Fisher sold 10 percent (19,500 shares) of Bowden's outstanding shares for $328,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process.
Required:
Prepare the journal entries for Fisher for the years of 2017 and 2018.
Answer:
Investment in Bowden Inc. (Dr.) $980,000
Cash (Cr.) $980,000
Dividend receivable 94,000 * 40% (Dr.) $37,600
Investment in Bowden (Cr.) $37,600
Cash (Dr.) $37,600
Dividend Receivable (Cr.) $37,600
Investment in Bowden 408,000 *40% (Dr.) $163,200
Income From Bowden (Cr.) $163,200
Investment in Bowden 365,000 * 6/12 * 40% (Dr.) $71,200
Income from Bowden (Cr.) $71,200
Investment in Bowden 365,000 * 6/12 * 10% (Dr.) $17,800
Income from Bowden (Cr.) $17,800
Cash (Dr.) 328,000
Gain on Investment (Cr.) $69,756
Investment in Bowden (Cr.) $258,243
Explanation:
Gain on investment in Bowden :
Investment value $980,000
Total number of shares 74,000
Per share value 980,000 / 74,000 = 13.24
Sold 19,500 shares
Value of shares sold : 19,500 shares * 13.24 per share = $258,243
Sale price for shares = $328,000
Gain on Sale of investment = $69,756
Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity Unit Cost Unit Replacement Cost Unit Selling Price A 1,000 $ 14 $ 16 $ 20 B 800 19 15 22 C 700 7 6 12 D 600 11 8 10 E 800 18 16 17 The cost to sell for each product consists of a 15 percent sales commission. The normal profit for each product is 35 percent of the selling price. Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.
Answer:
Forester Company
1. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to individual products, is:
= $47,800
2. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory, is:
= $49,800
3. Assuming inventory write-downs are common for Forester, the necessary year-end adjusting entry based on requirement 2 is:
Debit Cost of goods sold (Inventory write-down) $5,200
Credit Inventory $5,200
To write down the inventory value from $55,000 (purchase costs) to $49,800 (replacement costs).
Explanation:
a) Data and Calculations:
Product Quantity Unit Cost Unit Replace- Unit Selling LCM Value
ment Cost Price
A 1,000 $ 14 $ 16 $ 20 $14,000 ($14*1,000)
B 800 19 15 22 12,000 ($12*800)
C 700 7 6 12 4,200 ($6*700)
D 600 11 8 10 4,800 ($8*600)
E 800 18 16 17 12,800 ($16*800)
Total 3,900 $47,800
Total costs = (1,000*$14 + 800*$19 + 700*$7 + 600*$11 + 800*$18)
= ($14,000 + 15,200 + 4,900 + 6,600 + 14,400)
= $55,000
Tota replacement costs = (1,000*$16 + 800*$15 + 700*$6 + 600*$8 + 800*$16)
= ($16,000 + 12,000 + 4,200 + 4,800 + 12,800)
= $49,800
Total market value = (1,000*$20 + 800*$22 + 700*$12 + 600*$10 + 800*$17)
= ($20,000 + 17,600 + 8,400 + 6,000 + 13,600)
= $65,600
Total cost = $55,000
Total replacement cost = $49,800
Inventory write-down = $5,200
g Ming Company has 500,000 shares of $10 par value common stock outstanding. During the year Ming declared a 10% stock dividend when the market price of the stock was $30 per share. Two months later Ming declared a $2.00 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by: Note that you have two types of dividends that you have to take into consideration. Group of answer choices
Answer:
$2,600,000
Explanation:
total shares of ming company = 500000
the dividend = 10%
10% * 500000 = 50000
stock dividend amount = 50000 share x 30 dolarrs
= 1500000
outstanding shares aftrr dividend = 500000+(500000*10%)
= 500000 + 50000 = 550,000
cash dividend = $2 per share
= 550000 * 2
= 1100000
decrease in retained earning = stock dividend + cash dividend
= 1500000 + 1100000
= $2,600,000
what are other information that should be included in the deposit and withdrawal forms?
Answer:
account number needed , name of bank, withdrawing needs pin e.t.c
Construct a contingency table from the following data where the two rows represent
whether the person was a democrat (D) or a republican (R) and the two columns
represent whether the person said that they intended to vote for Clinton (C) or
Trump (T).
Political
DRDDRDRRRDRRRDDRDRDR
Party
Candidate TCCTCTTCTCTT CCTCTTC
How many intend to vote for Clinton (C)?
(Round your answer to three decimal places.)
Your Answer:
9
Answer
Next Page
Page 20 of 20
Answer:
Clinton (C) Trump (T) Total
Democrat (D) 5 4 9
Republican (R) 4 7 11
Total 9 11 20
From the Contingency table above, we can see that 9 people intend to vote for Clinton.
Paul Parrino purchased from Daves Professional Wheelchair Service a wheelchair manufactured by 21st Century Scientific, Inc. The sales brochure from 21st Century Scientific stated that the wheelchair woulds erve [the buyer] well for many years tocome. Parrino had problems with the wheelchair within a few years and filed suit against Daves and 21st Century for breach of express warranty. Both defended on the grounds that the statement on years of service was puffery, not an express warranty. Are they right?
Answer:
In this case, 21st Century would probably win the lawsuit since its brochure never stated a specific amount of time, for example, 3, 5, or 10 years. So it cannot be considered an express warranty. Besides, the fact that the wheelchair actually lasted a few years (doesn't specify how many), it is more than consumer protection laws generally require.
Snow White Frame Company's cost formula for its supplies cost is $1,740 per month plus $8 per frame. For the month of March, the company planned for activity of 614 frames, but the actual level of activity was 620 frames. The actual supplies cost for the month was $6,850. The activity variance for supplies cost in March would be closest to:
Answer:
$48 U
Explanation:
Calculation to determine what The activity variance for supplies cost in March would be closest to:
First step is to calculate the Planning supply activity cost
Planning supply activity cost = (614 × $8) +$1,740
Planning supply activity cost = 4,912+$1740
Planning supply activity cost = $6652
Second step is to calculate the Actual supply activity cost
Actual supply activity cost = (620 × $8) + $1,740
Actual supply activity cost =4960+$1,740
Actual supply activity cost =$6,700
Now let calculate the Activity variance for supplies cost using this formula
Activity variance for supplies cost = Actual activity cost – Planning activity cost
Let plug in the formula
Activity variance for supplies cost= $6,700 - $6,652
Activity variance for supplies cost= $48 Unfavorable
Therefore The activity variance for supplies cost in March would be closest to:$48 U
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .4 percent per year, compounded monthly for the first six months, increasing thereafter to 16.1 percent compounded monthly. Assume you transfer the $5,100 balance from your existing credit card and make no subsequent payments. How much interest will you owe at the end of the first year
Answer:
$435.63
Explanation:
Calculation to determine How much interest will you owe at the end of the first year
First step is to calculate the Face Value of a lump sum, After the first six months
FV = $5,100 [1 + (.004 / 12)]^6
FV = $5,110.21
Second step is to calculate The Face Value of a lump sum in another six months
FV = $5,110.21[1 + (.161 / 12)]^6
FV = $5,535.63
Now let calculate the Interest
Interest = $5,535.63 − $5,100
Interest = $435.63
Therefore How much interest will you owe at the end of the first year is $435.63
You manage an equity fund with an expected risk premium of 10% and an expected standard deviation of 15%. The rate on Treasury bills (risk-free rate) is 5%. Your client chooses to invest $60,000 of her portfolio in your equity fund and $40,000 in a T-bill money market fund.
Required:
What is the expected return and standard deviation of return on your client's portfolio?
Answer:
Portfolio expected return = 8%
Portfolio SD = 9%
Explanation:
Portfolio return is a function of the weighted average return of each stock or asset invested in the portfolio. The mean return on portfolio can be calculated using the following formula,
Portfolio return = wA * rA + wB * rB + wN * rN
Where,
w represents the weight of each stock or asset in the portfolior represents the return of each stock or asset in the portfolioTotal investment in portfolio = 60000 + 40000 = 100000
Portfolio return = 60000/100000 * 10% + 40000/100000 * 5%
Portfolio return = 8%
The standard deviation of a portfolio containing one risky and one risk-free asset is calculated by multiplying the standard deviation of the risky asset by its weight in the portfolio. So, portfolio standard deviation will be,
Portfolio SD = 60000/100000 * 15%
Portfolio SD = 9%
On January 1, 2016, Telespace Inc. grants 6 million non-qualified stock options to its employees. The stock options have exercise price of $20, which is equal to the grant-date price. All options will vest in three years. The grant date fair value of the options is $15 per option. All 6 million options are expected to vest. On January 1, 2019, all 6 million vested options are exercised when the stock price is $50. The applicable tax rate for all periods is 40%. The company has sufficient taxable income for the stock option tax deductions to reduce income taxes payable in all periods.
How much compensation expense should Telespace recognize for the year of 2016?
Answer:
$30,000,000
Explanation:
compensation expense = total number of stocks granted x grant date value = 6,000,000 x $15 = $90,000,000
this expense will be allocated proportionally during the vesting period = $90,000,000 / 3 years = $30,000,000 per year
compensation expense per year (2016, 2017, 2018) = $30,000,000
What does bolding do to text?
Answer:
Explanation:
Usually you select the word or sentence you want to bold using your cursor, to make the word lines thicker and have the words stand out more. Most websites have the bold function denoted with a B so you can easily understand that the button is used for making a word or sentences bold. It's used in newspapers to highlight sections or to emphasize words or the beginning of paragraphs.
A-Z Technologies, a manufacturer of amplified pressure transducers, is trying to decide between a dual-speed and a variable-speed machine. The engineers are not sure about the salvage value of the variable-speed machine, so they have asked several different used-equipment dealers for estimates. The results can be summarized as follows: there is a 35% chance of getting $21,500; a 41% chance of getting $22,000; and a 13% chance of getting $36,000. Also, there is an 11% chance that the company may have to pay $7,000 to dispose of the equipment. Calculate the expected salvage value.
Answer:
Expected salvage value = $20455
Explanation:
The expected salvage value of the machine can be calculated by multiplying the expected salvage values by their relative probabilities and then summing up the resulting values. The following formula can be used,
Expected salvage value = pA * svA + pB * svB + ... + pN * svN
Where,
p represents the probability of each scenariosv represents the salvage value under each scenarioA, B, ... , N represents scenario A, B, ... , till Nth number of scenarioExpected salvage value = 0.35 * 21500 + 0.41 * 22000 + 0.13 * 36000 +
0.11 * -7000
Expected salvage value = $20455
A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 31,500 $fill in the blank 2 31,500 b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
Answer:
A. Year 2 $31,500
Year 2 $31,500
B. Year 1 = 63,000
Book Value of Tractor $252,000
Year 2 $ 50,400
Book Value of Tractor $201,600
Explanation:
a. Calculation to Determine the depreciation for each of the first two years by the straight-line method
Year 1 = $315,000 / 10
Year 1 = $31,500
Year 2 = $315,000 / 10
Year 2= $31,500
B) Calculation to determine the depreciation for each of the first two years by the double-declining-balance method
Based on the information given we are first going to calculate the percentage of depreciation using straight line method and then double it
Percentage = $ 315,000 *10%
Percentage=$31,500
Now let depreciation the book value each year by 20% Using the double-declining-balance method method
Year 1=20% of $ 315,000
Year 1= 63,000
Book Value=$315,000 - $63,000
Book Value= $ 252,000
Year 2= 20% of 252,000
Year 2 = $ 50,400
Book Value=$ 252,000 -$50,400
Book Value= $201,600
Testbank Multiple Choice Question 88 Concord Corporation, has 14300 shares of 4%, $100 par value, cumulative preferred stock and 59400 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $116000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Answer:
$60,400
Explanation:
Calculation to determine the amount of dividends received by the common stockholders in 2021
2021 Dividend received =($116,000*2)-[(14,300 × $100 × .04)×3]
2021 Dividend received =$232,000-($57,200×3)
2021 Dividend received =$232,000-$171,600
2021 Dividend received =$60,400
Note that 2020 and 2021 will give us 2 years; 2019,2020and 2021 will give us 3 years
Therefore the amount of dividends received by the common stockholders in 2021 will be $60,400
The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Let’s see whether these changes are reflected in the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions).
2015 2014
Revenues $225 $242
Cost of Purchased Crude Oil and Products 119 127
Other Operating Costs 59 52
Income before Income Tax Expense 47 63
Required:
a. Compute the gross profit percentage for each year. Assuming that the change from 2014 to 2015 is the beginning of a sustained trend, is Insignia likely to earn more or less gross profit from each dollar of sales in 2016?
b. Compute the net profit margin for each year.
Answer:
Note: See missing wordings in attached picture below
a. 2015
Gross profit percentage = [Total revenue - Cost of crude oil and products] / Total revenue
Gross profit percentage = [$225 - $119] / $225
Gross profit percentage = $106 / $225
Gross profit percentage = 0.47111111
Gross profit percentage = 47.11%
2014
Gross profit percentage = [Total revenue - Cost of crude oil and products] / Total revenue
Gross profit percentage = [$242 - $127] / $242
Gross profit percentage = $115 / $242
Gross profit percentage = 0.475206612
Gross profit percentage = 47.52%
Conclusion: Insignia Corporation are likely to earn less gross profit from each dollar of sales in 2016 because Gross profit percentage decreased from 2014 to 2015.
b. 2015
Net profit margin = Net income / Total revenue
Net profit margin = $26/$225
Net profit margin = 0.1155555
Net profit margin = 11.56%
2014
Net profit margin = Net income / Total revenue
Net profit margin = $37/$242
Net profit margin = 0.152893
Net profit margin = 15.29%
Inventory records for Marvin Company revealed the following:
Date Transaction Number of Units Unit Cost
Mar. 1 Beginning Inventory 1,000 $7.20
Mar. 10 Purchase 600 7.25
Mar. 16 Purchase 800 7.30
Mar. 23 Purchase 600 7.35
Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be:___.
a. $16.800.
b. $16.760.
c. $16.540.
d. $16.660.
Answer:
COGS= $16,732.5
Explanation:
Giving the following information:
Mar. 1 Beginning Inventory 1,000 $7.20
Mar. 10 Purchase 600 7.25
Mar. 16 Purchase 800 7.30
Mar. 23 Purchase 600 7.35
Marvin sold 2,300 units of inventory during the month.
First, we need to calculate the weighted average price per unit:
Weighted-average cost per unit= (7.2 + 7.25 + 7.3 + 7.35) / 4
Weighted-average cost per unit= $7.275
Now, the cost of goods sold:
COGS= 7.275*2,300
COGS= $16,732.5
The Armstrong Corporation developed a flexible budget for its production process. Armstrong budgeted to use 12,000 pounds of direct material with a standard cost of $14 per pound to produce 14,000 units of finished product. Armstrong actually purchased 24,000 pounds and used 15,000 pounds of direct material with a cost of $30 per pound to produce 14,000 units of finished product. Given these results, what is Armstrong's direct material pricevariance?
a. $234,000 unfavorable
b. $156,000 unfavorable
c. $234,000 favorable
d. $156,000 favorable
Answer:
A. $234,000 unfavorable
Explanation:
Calculation to determine Armstrong's direct material price variance
Using this formula
Direct material price variance=[(Standard cost-Actual cost)*Actual quantity]
Let plug in the formula
Direct material price variance=[($11-$24)*18,000)
Direct material price variance=$13*18,000
Direct material price variance=$234,000 Unfavorable
Therefore Armstrong's direct material price variance is $234,000 Unfavorable
The stage of Bruce Tuckman’s group decision-making process in which the members express their individual needs and opinions is ________.
The needs of the individual and the opinion should be mandatory.
What is the stage of Bruce Tuckman’s group?In the year 1965, Bruce Tuckman is psychologist mentioned that the team should go via five stages of development i.e. forming, norming, storming, performing, and adjourning. The stages begin from the time when the group should be first meeting till the end of the project.
hence, The needs of the individual and the opinion should be mandatory.
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The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2015. The dollar amounts were taken directly from the company s accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners equity. Prepare a corrected balance sheet. Include a proper heading.
Question Completion:
WILLIS TRANSPORT SERVICE
MANAGER'S REPORT
8PM THURSDAY
Assets Owners' Equity
Capital stock $110,400 Accounts Receivable $84,000
Retained earnings 74,400 Notes Payable 345,600
Cash 94,800 Supplies 16,800
Building 96,000 Land 84,000
Automobiles 198,000 Accounts Payable 43,200
Total $573,600 Total $573,600
Answer:
Willis Transportation Service
WILLIS TRANSPORTATION SERVICE
Balance Sheet
As of February 28, 2015
Assets
Current Assets:
Cash $94,800
Accounts Receivable 84,000
Supplies 16,800 $195,600
Automobiles 198,000
Building 96,000
Land 84,000 $378,000
Total assets $573,600
Liabilities and Equity:
Current Liabilities:
Accounts Payable $43,200
Long-term Liabilities:
Notes Payable $345,600
Total liabilities $388,800
Owners' Equity:
Common stock $110,400
Retained earnings 74,400 $184,800
Total liabilities and equity $573,600
Explanation:
a) Data and Analysis:
Assets:
Cash 94,800
Accounts Receivable 84,000
Supplies 16,800
Automobiles 198,000
Building 96,000
Land 84,000
Liabilities and Owners' Equity:
Accounts Payable 43,200
Notes Payable 345,600
Common stock 110,400
Retained earnings 74,400
b) Willis' balance sheet shows the company's assets and the sources through which the assets are financed. These sources are either liabilities (debts) or owners' equity (common stock or retained earnings). The balance sheet summarizes the financial position of Willis Transportation Service at a point in time.
The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 158,800 $ 123,000 Accounts receivable 84,000 95,000 Inventory 98,000 83,000 Investments 4,300 2,300 Long-term assets: Land 510,000 510,000 Equipment 820,000 700,000 Less: Accumulated depreciation (458,000 ) (298,000 ) Total assets $ 1,217,100 $ 1,215,300 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 102,000 $ 88,000 Interest payable 7,500 12,300 Income tax payable 9,500 5,300 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock 730,000 730,000 Retained earnings 268,100 179,700 Total liabilities and stockholders' equity $ 1,217,100 $ 1,215,300 Additional information for 2021: Net income is $88,400. Sales on account are $1,628,900. Cost of goods sold is $1,230,800. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.)
Answer:
Missing word: "a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio d. Debt-equity ratio"
a. Receivable turover ratio = Net credit sales/ Average receivbles
= $1,628,900/ (($84000+$95000)/2)
= $1,628,900 / $89,500
= 18.2 Times
b) Inventory Turnover ratio = Cost of goods sold / Average inventory
= $1,230,800/ (($98,000+$83,000)/2)
= $1,230,800/$90,500
= 13.6 Times
c) Current ratio = Current assets / Current liabilities
= ($158,000+$84,000+$98,000+$4,300) / ($102,000+$7,500+$9,500
= $344,300/$119,000
= 2.893277311
= 2.89 to 1
d) Acid test ratio = ( Current assets - Inventory ) / Current liabilities
= ($344,300 - $98,000) / $119,000
= $246,300 / $119,000
= 2.0697478992
= 2.07
e) Debt-equity ratio = Total Liability (Current + Non-current) / Stockholders' equity
= ($119,000+$100,000) / ($730,000+$268,100)
= $219,000 / $998,100
= 0.2194169
= 22%
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of $130,500) is worth $156,600 and Johnathan's land has a fair market value of $123,975, Johnathan also gives Logan cash of $32,625. a. Logan's recognized gain is $fill in the blank 1. b. Assume that Johnathan's land is worth $140,940 and he gives Logan $15,660 cash. Logan's recognized gain is ________
Answer:
A. $26,100
B. $15,660
Explanation:
Calculation to determine Logan recognized gain
A. Based on the information given in a situation where Johnathan's land is worth the amount of $123,975, Logan's recognized gain will be the amount of $26,100 which is the lesser of the amount realized as gain ($156,600 realized amount − $130,500 adjusted basis = $26,100) or the fairmarket value of the boot received amount of ($32,625)
Therefore Logan recognized gain will be $26,100
B. Based on the information given Ina situation were Johnathan's land is worth the amount of $140,940, Logan's recognized gain will be the amount of $15,660, the lesser of th amount realized as gain ($156,600 realized amount − $130,500 adjusted basis = $26,100) or the fairmarket value of the boot received of the amount of ($15,660).
Therefore Logan recognized gain will be $15,660
GIVING 50 POINTS AND BRAINLIEST
PLS HURRY
Answer:
i aint downloading the document sounds fishy
it sounds fishy sorry- lol
Answer:
yeah sounds fishy but thanks anyways
Explanation:
sorryyy
How can social media help employers during the hiring process ? Check all that apply
Social Media often provides a place for employers to begin their search, social media can fill in gaps on resumes or provide additional details, some sites can be a platform for recruiters to promote job openings.
Explanation: just got it right e2020
Employers frequently start their search on social media; it can complete information gaps on resumes or provide new information, and some sites can be used as a platform by recruiters to advertise job openings.
What is media?The term media, which is the word form of medium, refers to the human activity channels through which we disseminate news, music, movies, education, promotional messages, and other data This can include anything from black and white paper to digital data and includes art, news, educational content and numerous other forms of information.
Social media sites can be used to advertise job openings, find prospects, and confirm applicant backgrounds. Promote your employer brand. Sharing media about corporate values and employee events can assist build an employer brand to draw potential employees and clients.
Social media platforms provide human resources hiring departments with significantly more candidate information than they would have otherwise had at their fingertips. Employers have typically been restricted to the data that candidates include on their paper resumes.
Therefore, Thus option (B) is correct.
Learn more about media here:
https://brainly.com/question/14047162
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