Answer:
a. 2.20
Explanation:
The computation of the price elasticity of supply is shown below;
Here,
P1 = $1 Q1 = 100
P2 = $1.20 Q2 = 150
We know that
Price elasticity = percentage change in quantity supplied ÷ percentage change in price
where
Percentage change in quantity supplied = (Q2-Q1)÷(Q2+Q1) ÷ 2)×100
= (150-100) ÷(150+100) ÷ 2)×100
= 40
And,
Percentage change in price is
= (P2-P1) ÷ (P2+P1) ÷ 2)×100
= ($1.20 - $1) ÷ ($1.20 + $1) ÷ 2)×100
= 18.1818
So, price elasticity of supply is
= 40 ÷ 18.1818
= 2.20
At a price of $1.00, a local coffee shop is willing to supply 100 cinnamon rolls per day. At a price of $1.20, the coffee shop would be willing to supply 150 cinnamon rolls per day. Using the midpoint method, the price elasticity of supply is about:______.
A. 2.20B. 0.90
C. 1.11
D. 0.45
-KeonLee
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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
Answer:
false
Explanation:
Marginal utility is the additional utility derived from consuming one more unit of a good
the consumption decision is to consume more units of a good that gives the higher utility per good.
Marginal utility per good = marginal utility / price of the good
gasoline = 5 / 1 = 5
hamburger = 8/4 = 2
gasoline gives a higher utility per good. Thus, more of gasoline should be purchased
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.
Answer:
2021
Depreciation expense = $64,000
2022
Depreciation expense = $48,000
2023
Depreciation expense = $52,000
2024
Depreciation expense = $51,000
2025
Depreciation expense = $10,250
2026
Depreciation expense = $10,250
2027
Depreciation expense = $10,250
2028
Depreciation expense = $10,250
Explanation:
Depreciation Charge using the double-declining-balance (DDB) method is determined as follows :
Depreciation Charge = 2 x SLDP x BVSLDP
where,
SLDP = 100 ÷ Number of useful life
= 100 ÷ 8
= 12.5 %
and
BVSLDP = cost (in first year) and Book Value thereafter.
therefore,
2021
Depreciation expense = 2 x 12.5 % x $256,000 = $64,000
2022
Depreciation expense = 2 x 12.5 % x ($256,000 - $64,000) = $48,000
2023
Depreciation expense = 2 x 12.5 % x ($256,000 - $48,000) = $52,000
2024
Depreciation expense = 2 x 12.5 % x ($256,000 - $52,000) = $51,000
Now from 2024 we have to switch to straight line method
With Straight Line Method, we charge a fixed amount of depreciation using the formula :
Depreciation expense = (Cost - Residual Value) ÷ Remaining Useful life
But since we have provided for depreciation expenses before, we have to reduce the cost by $215,000 (accumulated depreciation to date). Also we reduce the remaining useful life by the years expired to 4 years.
2025
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2026
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2027
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2028
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
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
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.
Answer:
According to Orlando:_____.
(a) workers have obligations to, but are owed consideration by, their employers.
Explanation:
Workers are employed by their employers to carry out their obligations as per instruction. They owe the duty of reasonable care to their employers. They are supposed to be honest in their dealings with their employers. Workers are also required to take safety and health measures to protect themselves and others from harm at the workplace. For all these obligations, the employers of labor must pay adequate consideration to their workers and ensure their safety at work.
On October 1, 2021, Sonoma Company leased equipment from Napa Inc. in lease payable in five equal annual payments of $540,000, beginning Oct 1, 2022. Similar transactions have carried an 11% interest rate. The right-of-use asset would be recorded at:________ (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Answer:
$1,995,786
Explanation:
Calculation to determine what The right-of-use asset would be recorded at:
Using this formula
Right-of-use asset=Annual payments*PV ordinary annuity
Where,
Annual payments=$540,000
PV ordinary annuity of $1: n = 5; i = 11%=3.69590
Let plug in the formula
Right-of-use asset= $540,000 × 3.69590
Right-of-use asset = $1,995,786
Therefore The right-of-use asset would be recorded at:$1,995,786
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.
Answer:
Differential Analysis on January 25:
Make Buy Difference
Alternative 1 Alternative 2
Avoidable costs $43 $39 $4
per unit of (100 bottles)
Explanation:
a) Data and Calculations:
Variable manufacturing cost per unit = $43 ($55 - $12)
Fixed manufacturing cost per unit = 12
Total manufacturing cost per unit = $55
Outside supplier's offered price per unit = $36
Freight per unit for outside supply = 3
Total outside supply cost per unit = $39
b) There is an additional avoidable cost of $4 per unit to make the bottles. From a financial point of view, it will be cost-effective to buy the bottles from the outside supplier. If the company finds an alternative use of the production facilities, the cost difference will increase.
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.
Answer:
Ed Abbey Co. (Ayayai Co.)
Journal Entries:
1. December 31, 2020:
Debit Accounts receivable $296,600
Credit Consulting revenue $296,600
To record consulting services performed on account.
December 31, 2020:
Debit Notes receivable $296,600
Credit Accounts receivable $296,600
To record the acceptance of notes.
December 31, 2021:
Debit Interest receivable $35,592
Credit Interest revenue $35,592
To accrue interest on notes receivable.
December 31, 2022:
Debit Interest receivable $35,592
Credit Interest revenue $35,592
To accrue interest on notes receivable.
Debit Cash $367,784
Credit Notes receivable $296,600
Credit Interest receivable $35,592
To record the full settlement of principal and interests.
Explanation:
a) Data and Analysis:
December 31, 2020: Accounts receivable $296,600 Consulting revenue $296,600
December 31, 2020: Notes receivable $296,600 Accounts receivable $296,600
December 31, 2021:
Interest receivable $35,592 Interest revenue $35,592
December 31, 2022:
Interest receivable $35,592 Interest revenue $35,592
Cash $332,192 Notes receivable $296,600 Interest receivable $35,592
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.
Answer:
a) The bonds were issued at a premium.
Explanation:
Given that
There are the bonds of $5,000,000
And, if the total amount received that involved the accrued interest also so the amount of the bond is $5,060,000
This means the bond is issued at premium as the value is increased i.e. fro m $5,000,000 the value is now $5,060,000
So, the option a is correct
And, the rest of the options would be incorrect
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
Answer:BB
Explanation:b
Paul had a great job as a bank executive. Unfortunately, his bank came under scrutiny by federal regulators, and although Paul had done nothing illegal, he ended up being fired. Unfortunately for Paul, he had a number of debts. Among his assets were a house worth $250,000 on which he owed $150,000 to a bank that held a security interest; three vehicles; an expensive watch worth $5,000; and $120,000 in an Individual Retirement Account (IRA). He owed $900 per month in child support to his ex-wife Suzy and was behind on payments in the amount of $1,800. He also owed $2,000 in wages consisting of four months of back pay to Bob who took care of Paul's landscaping needs and swimming pool care. All creditors angrily demanded payment from liquidation of Paul's assets. Paul, on the other hand, claims that he needs all the above-mentioned assets and that he should not have to give up anything. Only federal bankruptcy exemptions apply to Paul's case. Which of the following is true regarding Paul's claim to his Individual Retirement Account (IRA)?
a. The IRA is entirely exempt from the claims of creditors.
b. The IRA is entirely subject to the claims of creditors.
c. The IRA is exempt up to $1,000.
d. The IRA is exempt up to $10,000.
e. The IRA is exempt up to $100,000.
Answer:
The answer is "Choice a".
Explanation:
The Industrial Revolution focused on what?
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
Answer:
a. Date Description Debit Credit
Jan 1 Petty cash $200
Cash $200
(Establishment of petty cash fund)
b. Date Description Debit Credit
Jan 31 Phone Expense $17.50
Automobile Expense $33
Joseph Levine, Drawing $54
Postage Expense $12.50
C. Contributions Expense $15
Miscellaneous Expense $49
Petty cash $181
(Replenishment of petty cash fund)
How might the inflationary flashpoint affect policy decisions? How would you represent the flashpoint on the Phillips curve?
Answer:
Effect of inflationary flashpoint : Economic policies become tightened At the point where Unemployment is lowest in the Philips curve represents The flashpoint in Philips curveExplanation:
Inflationary flashpoints are the points where the aggregate supply curve experiences a very rapid/sharp increase
The Inflationary Flashpoint can affect policy decisions in ways that it will lead to an increase in unemployment caused by the increase in Inflation, and this will cause the economic policies to become tightened in order to curb the effects of Inflationary flashpoints
The Inflationary flashpoint is represented in the Philips Curve ( relationship between the inflation and unemployment rate ) at the point where Unemployment is lowest in the curve
If anyone knows about businesses can you help me please
Answer:
I believe it is team standard
Explanation:
One way a group of people can become an effective team is to create team standards. These are essentially the rules that govern how the team works and behaves. To be effective, the team standards need to be set and agreed to by the team members and not dictated to them by a boss or manager.
Patriot Company produces flak jackets for military use. The company recently adopted a standard costing system and set the following standards for materials per unit of product:
Materials (Ballistic Nylon): 8 yards
$4 per yard During the most recent month, Patriot produced 5,500 units of flak jackets. Actual materials purchased and used were 40,000 yards at the price of $4.20 per yard. Based on the information above, answer the following questions: L 5 points]
(1) What was the total material costs incurred by the company during the month (i.e, actual costs of materials)?
(2) What should be the total material costs allowed for the production during the month (i.e., standard costs of materials)?
(3) What is the total variance for materials to be reported during the month? Is it favorable (F) or unfavorable (U)? materials price and quantity (usage) variances below. Indicate whether each variance is favorable (F or unfavorable (U
(4) Using either the template (columnar) approach or the formula approach, compute direct
Answer:
Patriot Company
1. The total material costs incurred by the company during the month (actual costs of materials) = $168,000
2. The total material costs allowed for the production during the month (i.e., standard costs of materials) = $176,000
3. The total variance for materials to be reported during the month is $8,000 F.
4. The Direct material price variance is = $8,000 U
5. The Direct material quantity variance is = $16,000 F
Explanation:
a) Data and Calculations:
Standard for materials per unit:
Materials (Ballistic Nylon): 8 yards $4 per yard = $32 per unit
Production in the most recent month = 5,500 units
Actual materials purchased and used = 40,000 yards at $4.20 per yard
1. The total material costs incurred by the company during the month (actual costs of materials) = $168,000 (40,000 * $4.20)
2. The total material costs allowed for the production during the month (i.e., standard costs of materials) = $176,000 (8 * 5,500 * $4.00)
3. The total variance for materials to be reported during the month = $8,000. It is favorable (F)
4. Direct materials price variance = (Standard price - Actual price) * Actual quantity
= ($4.00 - $4.20) * 40,000
= $8,000 U
5. Direct materials quantity variance = Standard quantity - Actual quantity * Standard price
= (44,000 - 40,000) * $4
= 4,000 * $4
= $16,000 F
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.)
Answer:
January 1, 2020
Dr Stock Investments $802,000
Cr Cash $802,000
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
June 15
Dr Cash $8,020
Cr Stock Investments $8,020
September 15
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
December 15
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
December 31
Dr Stock Investments $86,125
Cr Revenue for Stock Investments $86,125
Explanation:
Preparation of the journal entries for Heidebrecht Design for 2020, assuming Heidebrecht Design can exercise significant influence over Cullumber
January 1, 2020
Dr Stock Investments $802,000
Cr Cash $802,000
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
(40,100 shares*$0.20)
June 15
Dr Cash $8,020
Cr Stock Investments $8,020
(40,100 shares*$0.20)
September 15
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
(40,100 shares*$0.20)
December 15
March 15
Dr Cash $8,020
Cr Stock Investments $8,020
(40,100 shares*$0.20)
December 31
Dr Stock Investments $86,125
Cr Revenue for Stock Investments $86,125
($344,500*25%)
On Thursday, Justin flies from Baltimore (where the office for his sole proprietorship is located) to Cadiz (Spain). He conducts business on Friday and Tuesday; vacations on Saturday, Sunday, and Monday (a legal holiday in Spain); and returns to Baltimore on Thursday. Justin was scheduled to return home on Wednesday, but all flights were canceled due to bad weather. As a result, he spent Wednesday watching floor shows at a local casino.
a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
b. Suppose Monday was not a legal holiday. Would this change your answer in (a)? Explain.
c. Under either (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
Answer:
a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
The whole trip is considered a business trip because Justin started working before the weekend and continued to work after the holiday was over. He is not responsible for bad weather conditions.
b. Suppose Monday was not a legal holiday. Would this change your answer in (a)? Explain.
Yes, it would make a difference since a legal holiday counts as a labor day, so Justin legally worked immediately after the weekend, but if Monday wasn't a holiday and he got back to work on Tuesday, then he couldn't consider Saturday, Sunday nor Monday as business days.
c. Under either (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
the airfare is 100% deductible under any scenario
The portion of Justin’s trip that is regarded as being for business is the whole trip.
It should be noted that the whole trip is considered a business trip due to the fact that Justin started working before the weekend and continued to work after the holiday was over. If Monday was not a legal holiday, it'll make a difference since a legal holiday counts as a labor day, so Justin legally worked immediately after the weekend.Under either (a) or (b), the amount of Justin’s airfare that qualifies as a deductible business expense is the whole amount which is 100% of the amount.Read related link on:
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Trego Company issued, payable on December 31, 2015, $10,000 face value, 8%, 4-year bonds. Interest will be paid annually each December 31. Market interest rate on similar bonds is 6%. Trego uses the effective interest rate method of amortizing bond discount or premium. (PV of annuity; n; n=4;i=6%)=3.46511 (PV; n=4;i=6%)=0.79209 What is the issuing price?
a. $9,503.
b. $10,735.
c. $10,693.
d. $9,603.
Answer: $10693
Explanation:
The issuing price can.wb calculated thus:
Firstly, we'll calculate the annual interest which will be:
= $10000 × 8%
= $800
The present value of the interest will be:
= 800 × pvifa (6%,4yrs)
= 800 × 3.46511
= 2772.09
Pv of face value will be:
= 1000 × pvif(6%,4yrs)
= 10000*0.79209
=7920.90
Therefore, the issuing price will be:
= PV of interest + present value of face value
= 2772.09 + 7920.90
= 10692.99
= $10693
Therefore, issuing price is $10693.
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
a. Effect of rental activity on Dillon's AGI is $0.
b. Itemizable real property taxes -$3,050
Itemizable mortgage interest- $12,125
What is real property?Real property is defined as a parcel of land and everything permanently attached to it. The owner of real property has complete ownership rights, including the ability to possess, sell, lease, and enjoy the land.
Dillon rented his personal residence for a period not more than 15 days. He stayed for more than 15 days. If a taxpayer rented a house for less than 15 days and lived in it for more than 15 days, he is not required to include gross receipts in rental income in his AGI.
Dillon can deduct $3,050 in real estate taxes and $12,125 in mortgage interest as itemized deductions.
Therefore, Dillon does not require to include the rental income from the property in his AGI.
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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
Answer: c. $22,000 increase in operating income
Explanation:
Expected decrease in revenues -$280,000
Expected decrease in total variable costs (-$200,000)
Expected decrease in fixed costs (-$102,000)
Expected increase(decrease) in operating income $22,000
Costs are to be deducted from revenues so if the costs are decreasing, the mathematical treatment would be to add the decrease to the revenues which is how the above was calculated.
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
Answer:
Other Comprehensive income = $37,500Comprehensive income = $154,500Explanation:
Other comprehensive income:
= Realized gain on sale of available-for-sale debt securities + Unrealized holding gain arising during the period on available-for-sale debt securities - Reclassification adjustment for gains included in net income
= 11,000 + 34,000 - 7,500
= $37,500
Comprehensive income = Net income + Other comprehensive income
= 117,000 + 37,500
= $154,500
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)
Answer:
$50.47
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = - ($678 + $58 ) = -736
Cash flow in year 1 - 4 = $173
Cash flow in year 5 = $173 + $144
I = 8.1
NPV = 50.47
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Tickets Today contracts with the producer of Riverdance to sell tickets online. Tickets Today charges each customer a fee of $6 per ticket and receives $15 per ticket from the producer. Tickets Today does not take control of the ticket inventory. Average ticket price for the event is $150. How much revenue should Tickets Today recognize for each Riverdance ticket sold?
a. $6 because the $15 from the producer is similar to a negative cost of goods sold
b. $150 because the $135 is cost of goods sold paid to the Riverdance producer
c. $21 because both the fee from the customer and the producer are earned
d. $156 because the $135 is cost of goods sold paid to the Riverdance producer
e. None of the above
The following selected account balances appeared on the financial statements of Washington Company:
Accounts Receivable, January 1 $16,209
Accounts Receivable, December 31 6,108
Accounts Payable, January 1 4,533
Accounts Payable, December 31 8,086
Merchandise Inventory, January 1 7,281
Merchandise Inventory, December 31 13,264
Sales 62,595
Cost of Merchandise Sold 32,767
Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers were
a. $52,494
b. $62,595
c. $85,315
d. $72,696
Answer: $72,696
Explanation:
Cash collections from customers = Sales + Decrease in Accounts Receivable:
= 62,595 + (16,209 - 6,108)
= $72,696
Sales represents cash sales and decrease in accounts receivable will represent the amount collected from the debtors.
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
Answer:
37.7 hours
Explanation:
Calculation to determine what The delivery cycle time was:
Using this formula
Delivery cycle time=Wait time +Throughput time
Where,
Wait time=28.0
Throughput time=Process time 1.0+ Inspection time 0.4+ Move time 3.2 +Queue time 5.1=9.7
Let plug in the formula
Delivery cycle time=28.0+9.7
Delivery cycle time=37.7
Therefore Delivery cycle time was 37.7
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.
Answer: A. Allen is in violation of the Standard relating to record retention.
Explanation:
The option that's most likely true is that Allen is in violation of the Standard relating to record retention.
It should be noted that records retention has to do with the safeguarding of important records in the organization.
Since he reconstructed a few research reports on companies that he covered during his former employment after starting his own research, he violated the standard relating to record retention
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.
Answer:
Please find the solution in the attached file.
Explanation:
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
Answer:
Steve and Stephanie Pratt
a. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
b. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
c. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
d. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
Explanation:
a) Data and Calculations:
Initial purchase cost of a home in Spokane = $575,000
Selling price of the home on June 30 of Year 5 = $927,500
Recognized gains = Selling price of the home Minus Initial Purchase Cost
= $352,500 ($927,500 - $575,000)
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
Answer:
a. 5X1 + X 2 ≥ 0
Explanation:
Product 2 = X2
Product 1 = X1
Mass in kg of product (X1) = 5
Mass in kg of product (X2) ≥ 1 (atleast 1 kg)
Combining these Constraint :
For every 5kg of X1 ; X2 ≥ = 1
Hence ;
5X1 + X2 ≥ 0
Purchasing power parity does not hold in the short to medium run because:____.
Answer:
some goods aren't internationally traded
Explanation:
Purchasing power parity is most popularly known as the PPP. It may be defined as the measure of the prices of the various countries which makes use of the price of some specific goods in order to compare the absolute purchasing capability or power for the countries' currencies.
It is used to measure and compare prices at different locations.
The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.