Assume that Warnaco Group Inc. borrowed $100,000 from the bank to be repaid over the next five years, with principal payments beginning next month. Which of the following best describes the presentation of this debt in the balance sheet as of today (the date of borrowing)?
a. $100,000 in the long-term liability section.
b. $100,000 plus the interest to be paid over the five-year period in the long-term liability section.
c. A portion of the $100,000 in the current liability section and the remainder of the principal in the long-term liability section.
d. A portion of the $100,000 plus interest in the current liability section and the remainder of the principal plus interest in the long-term liability section.

Answer:

C

Explanation:

The short term amount due (within the next fiscal year) is classified in the current liability section while the amounts due in years 2-5 would be reported in the long term section. Interest is always an expense and never reported on the balance sheet.

The table shows an indifference schedule for several combinations of x and y. Approximately how much of y is the consumer willing to give up to obtain the sixteenth unit of x

On December 31, 2020, Ayayai Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Ayayai Co. agreed to accept a $296,600 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Ayayai is much more creditworthy and has various lines of credit at 6%.
1.) Prepare the journal entry to record the transaction of December 31, 2020, for the Ed Abbey Co.
2.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2021.
3.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2022.

Which statement is FALSE?
Management stages are:
A
Collections of activities and products whose delivery is managed as a unit
B
The element of work which the Project Manager is managing on behalf of the Project
Board at any one time
Partitions of the project with decision points
D
The amount of work defined in a work package

Vincent Allen, CFA, was a stock analyst with a large investment bank. He recently left to start his own research firm. Based on his memory, he reconstructed a few research reports on companies that he covered during his former employment. He was able to find all the supporting documents for his report online, except the meeting notes he had with the management of the covered companies, and then he published the reports. Which of the following is most likely true?

a. Allen is in violation of the Standard relating to record retention.
b. Allen is in violation of the Standard relating to duties to employers.
c. Allen is not in violation of any Standard.

A company manufactures various-sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $55 per unit (100 bottles), including fixed costs of $12 per unit. A proposal is offered to purchase small bottles from an outside source for $36 per unit, plus $3 per unit for freight.

Required:
Prepare a differential analysis dated January 25 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the bottles, assuming fixed costs are unaffected by the decision.

How might the inflationary flashpoint affect policy decisions? How would you represent the flashpoint on the Phillips curve?

Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $31,000. Budgeted cash receipts total $135,000 and budgeted cash disbursements total $141,000. The desired ending cash balance is $50,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month.
Prepare the company's cash budget for November in good form.

On February 28, 2009, $5,000,000 of 6%, 10-year bonds payable, dated December 31, 2008, are issued. Interest on the bonds is payable semiannually each June 30 and December 31. If the total amount received (including accrued interest) by the issuing corporation is $5,060,000, which of the following is correct?
a) The bonds were issued at a premium.
b) The amount of cash paid to bondholders on the next interest date, June 30, 2009, is $300,000.
c) The amount of cash paid to bondholders on the next interest date, June 30, 2009, is $50,000.
d) The bonds were issued at a discount.

Santeria Trading Inc. has manipulated its accounts to inflate its expenditure so it is subject to fewer taxes than it would have to pay
otherwise. Which element of the internal accounting control does Santeria fail to comply with?
OA
policies
OB
monitoring
Oc.
accounting system
OD.
risk assessment
ОЕ.
environmental control

The price of gasoline is $1 per gallon and the price of a hamburger is $4. If you currently receive marginal utility of 5 from gasoline and marginal utility of 8 from a hamburger, you should buy less gasoline and more hamburgers.

a. True
b. False

Your boss is considering a 5-year investment project. If the project is accepted, it would require an immediate spending of $678 to buy all necessary production equipment. This equipment would be sold at the end of the project and bring your company estimated $144 in sale proceeds after taxes (or after-tax salvage value). Your boss's consulting team estimated that the annual after-tax profits (or operating cash flows) would equal $173. The team also recommends immediately setting aside $58 in cash to cover any unforeseen expenses. The required annual rate of return is 8.1%.
Calculate the Net Present Value of this proposed investment project. (Do NOT use "S" in your answer. Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your answer to TWO decimal places. For example, 1,000,23 or -1,000.23) Focus E- 17 786 words English (United States)

Purchasing power parity does not hold in the short to medium run because:____.

The following information is available for Blue Spruce Corp. for 2021:
Net Income $117,000
Realized gain on sale of available-for-sale debt securities 11,000
Unrealized holding gain arising during the period on available-for-sale debt securities 34,000
Reclassification adjustment for gains included in net income 7,500
Determine other comprehensive income for 2021.
Other comprehensive income $
Compute comprehensive income for 2021.
Comprehensive income

Which of the following constraints correctly describe this requirement: The management also requires produce at least one kg of product 2 (denoted by X2) for every five kgs of product 1 (denoted by X1).

a. 5X1 + X 2 ≥ 0
b. X1 + 5 X 2 ≥ 0
c. X1 + 5 X 2 ≤ 0

Cutter Enterprises purchased equipment for 60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,900. Using the double-declining-balance method, the book value at December 31, 2022, would be:____.
a. $15,500.
b. $15,980.
c. $18,380.
d. $27,900.

According to Orlando:_____.
(a) workers have obligations to, but are owed consideration by, their employers.
(b) workers are subject to the legitimate expectations of their employers but employers are not subject to any legitimate expectations of workers.
(c) all of the above.
(d) none of the above.

Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $4,800. Expenses associated with use of the home for the entire year were as follows:_______.
Real property taxes $ 3,050
Mortgage interest 12,125
Repairs 1,325
Insurance 1,510
Utilities 5,040
Depreciation 12,400
a. What effect does the rental have on Dillon’s AGI
Effect of rental activity on Dillon's AGI
b. What effect does the rental have on Dillon’s itemized deductions?
Itemizable real property taxes
Itemizable mortgage interest

During 2020, Lincoln Company hires seven individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $7,500 during the year. Lincoln Company's work opportunity credit is $________.

The Industrial Revolution focused on what?

Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items: $50,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. Prepaid rent of $24,000, covering the period January 1, 2022, through December 31, 2023. Notes payable of $200,000. The notes are payable in annual installments of $20,000 each, with the first installment payable on March 1, 2022. Accrued interest payable of $12,000 related to the notes payable. Investment in equity securities of other corporations, $80,000. Cone intends to sell one-half of the securities in 2022.
Required:
Prepare a partial classified balance sheet to show how each of the above items should be reported.

Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 28.0 Process time 1.0 Inspection time 0.4 Move time 3.2 Queue time 5.1 The delivery cycle time was: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 36.3 hours 8.3 hours 37.7 hours 3.2 hours

On January 2, 2021, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $55,000. The expenditures made to acquire the asset were as follows:

Purchase price $236,500
Freight charges 8,000
Installation charges 11,500

Jackson's policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipment's life and then switch to straight line halfway through the equipment's life.

Required:
Calculate depreciation for each year of the asset's eight-year life.

Tanner-UNF Corporation acquired as an investment $260 million of 6% bonds, dated July 1, on July 1, 2021. Company management is holding the bonds in its trading portfolio. The market interest rate (yield) was 8% for bonds of similar risk and maturity. Tanner-UNF paid $220 million for the bonds. The company will receive interest semiannually on June 30 and December 31. As a result of changing market conditions, the fair value of the bonds at December 31, 2021, was $230 million.

Required:
a. Prepare the journal entry to record Tanner-UNF’s investment in the bonds on July 1, 2021 and interest on December 31, 2021, at the effective (market) rate.
b. Prepare any additional journal entry necessary for Tanner-UNF to report its investment in the December 31, 2021, balance sheet.
v. Suppose Moody’s bond rating agency downgraded the risk rating of the bonds motivating Tanner-UNF to sell the investment on January 2, 2022, for $200 million. Prepare the journal entries required on the date of sale.

A jeweler purchases silver for use in its products. The firm uses 180 grams of silver per week and purchases silver for $2.6 per gram from a supplier. The cost to hold one gram of silver in inventory for one year is $0.52. Each time the firm orders silver from the supplier, the firm must pay a $12 order processing charge.

Required:
What is the optimal order quantity (in grams)?

The Consumer Division lost $28,000 and the Industrial Division had operating income of $58,000. Management has analyzed the situation and wants you to do a differential analysis to determine the increase or decrease in overall operating income based on the following:

Expected decrease in revenues $280,000
Expected decrease in total variable costs $200,000
Expected decrease in fixed costs $102,000

a. $2,000 increase in operating income
b. $80,000 decrease in operating income
c. $22,000 increase in operating income
d. $80,000 decrease in operating income

Steve and Stephanie Pratt purchased a home in Spokane, Washington, for $575,000. They moved into the home on February 1 of year 1. They lived in the home as their primary residence until June 30 of year 5, when they sold the home for $927,500. (Leave no answer blank. Enter zero if applicable.)
a. What amount of gain on the sale of the home are the Pratts required to include in taxable income?
Recognized gain
b. Assume the original facts, except that Steve and Stephanie lived in the home until January 1 of year 3 when they purchased a new home and rented out the original home. They finally sell the original home on June 30 of year 5 for $927,500. Ignoring any issues relating to depreciation taken on the home while it was being rented, what amount of realized gain on the sale of the home are the Pratts required to include in taxable income?
Recognized gain
c. Assume the same facts as in part (b), except that the Pratts lived in the home until January of year 4 when they purchased a new home and rented out the first home. What amount of realized gain on the sale of the home will the Pratts include in taxable income if they sell the first home on June 30 of year 5 for $927,500?
Recognized gain
d. Assume the original facts, except that Stephanie moved in with Steve on March 1 of year 3 and the couple was married on March 1 of year 4. Under state law, the couple jointly owned Steve’s home beginning on the date they were married. On December 1 of year 3, Stephanie sold her home that she lived in before she moved in with Steve. She excluded the entire $102,500 gain on the sale on her individual year 3 tax return. What amount of gain must the couple recognize on the sale in June of year 5?
Recognized gain

If anyone knows about businesses can you help me please

Based on the following petty cash information, prepare

a. the journal entry to establish a petty cash fund
b. the journal entry to replenish the petty cash fund.

On January 1, 2021, a check was written in the amount of $200 to establish a petty cash fund. During January, the following vouchers were written for cash removed from the petty cash drawer:

Voucher No. Account Debited Amount
1 Phone Expense $17.50
2 Automobile Expense 33.00
3 Joseph Levine, Drawing 54.00
4 Postage Expense 12.50
5 Charitable Contributions Expense 15.00
6 Miscellaneous Expense 49.00

Which of the following is a characteristic of a corporation?
Shareholders are generally not personally liable for the business's obligations
and liabilities.
The corporation must have an elected board of directors.
The corporation is a separate taxable entity from its owners.
All of these answers

Heidebrecht Design acquired 25% of the outstanding common stock of Cullumber Company on January 1, 2020, by paying $802,000 for the 40,100 shares. Cullumber declared and paid $0.20 per share cash dividends on March 15, June 15, September 15, and December 15, 2020. Cullumber reported net income of $344,500 for the year. At December 31, 2020, the market price of Cullumber common stock was $26 per share.
Prepare the journal entries for Heidebrecht Design for 2020, assuming Heidebrecht Design can exercise significant influence over Cullumber. Use the equity method. (Record journal entries in the order presented in the problem. 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.)