Answer:
$17,150
Explanation:
Computation for the balance of Retained Earnings at April 30.
Retained earnings beginning balance $12,500
Add Provide services to customers on account, $8,000
Add Provide services to customers in exchange for cash $2,700
Less Pay rent for April ($1,300 )
Less Pay employee salaries for April, ($3,000)
Less Pay dividends to stockholders, ($1,750)
Balance of Retained Earnings at April 30 $17,150
Therefore the balance of Retained Earnings at April 30 will be $17,150
Which of the following is not true about emergency funds?
O They help remove the worry about expenses not listed in the budget.
O They help you prepare for unexpected expenses.
O They are used for anything listed in the budget.
O They can keep you from borrowing money from friends and family members.
Emergency funds are typically set aside to cover unexpected expenses that are not included in the regular budget. The statement "They are used for anything listed in the budget" is not true about emergency funds. Hence, option C is the correct answer.
These expenses may include medical emergencies, car repairs, home repairs, job loss, or any unforeseen financial hardships. The purpose of an emergency fund is to provide a financial safety net for unexpected situations that can disrupt one's financial stability.
On the other hand, expenses listed in the budget are part of the regular planned expenses, such as rent or mortgage payments, groceries, utilities, transportation, and other recurring costs.
Hence, option C is the correct answer.
Learn more about emergency funds here:
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ire Corporation distributes property (basis of $225,000, fair market value of $300,000) to a shareholder in a distribution that is a qualifying stock redemption. The property is subject to a liability of $160,000 that the shareholder assumes. Determine the basis of the property to the shareholder.
Answer:
$300,000
Explanation:
The fair market value of the property is the basis in property received in a qualifying stock redemption to shareholder which is $300,000.
So, $300,000 is the amount that will serve as the basis of the property to the shareholder.
Creating a Multimedia Presentation to Demonstrate Knowledge of Agriculture, Food, and Natural Resource Careers For this assignment, you will create a multimedia presentation on Agriculture, Food,
and Natural Resources tasks and work environments to demonstrate understanding
of these careers.
Useful references for gathering this information will be listed at the end of this
document. Your presentation should include a title slide, thirteen slides representing
tasks and work environments for specific Agriculture, Food, and Natural Resource
careers, and a works cited slide.
Assignment Instructions
Step 1: Gather materials and necessary information.
a) Use resources listed at the end of this document to create your multimedia
presentation for Agriculture, Food, and Natural Resource careers.
b) Be sure to keep a list of your references so you can cite them later.
c) Ask your teacher where you should save your presentation as you work on it.
Your teacher may also have specific guidelines about the file name you
should use.
Step 2: Create your title slide.
a) Begin by creating the title slide. On this slide, include the title of your
presentation, your name, your teacher’s name, and the due date of the presentation.b) Remember to save your work as you go.
Step 3: Provide information for Farmworkers and Laborers, Crop careers.
a) Create a slide titled Common Tasks for Farmworkers and Laborers, Crop.
b) Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop
that are listed as common tasks on the O*NET site. Add a picture of at least one of
these tasks to the slide.
c) Create a slide titled Common Work Activities for Farmworkers and
Laborers, Crop.
d) Create a bulleted list describing four work activities for Farmworkers and Laborers,
Crop that are listed as common work activities on the O*NET site. Add a picture of
at least one of these work activities to the slide.
e) Create a slide titled Common Work Contexts for Farmworkers and
Laborers, Crop.
f) Create a bulleted list describing work contexts for Farmworkers and Laborers,
Crop that are listed as common work contexts on the O*NET site. Add a picture of
at least one of these common work contexts to the slide.
Step 4: Provide information for Forester careers.
a) Create a slide titled Common Tasks for Foresters.
b) Create a bulleted list describing four tasks for Foresters that are listed as common
tasks on the O*NET site. Add a picture of at least one of these tasks to the slide.
c) Create a slide titled Common Work Activities for Foresters.
d) Create a bulleted list describing four work activities for Foresters that are listed as
common work activities on the O*NET site. Add a picture of at least one of these
work activities to the slide.
e) Create a slide titled Common Work Contexts for Foresters.
f) Create a bulleted list describing work contexts for Foresters that are listed as
common work contexts on the O*NET site. Add a picture of at least one of these
common work contexts to the slide.
Step 5: Provide information for Nursery and Greenhouse Managers.
a) Create a slide titled Common Tasks for Nursery and Greenhouse Managers.
Answer:
Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop that are listed as
common tasks on the O*NET site.
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Create a bulleted list describing four work activities for Farmworkers and Laborers, Crop that are listed
as common work activities on the O*NET site.
the slide.
• Handling and moving objects.
• Preforming general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Create a bulleted list describing work contexts for Farmworkers and Laborers, Crop that are listed as
common work contexts on the O*NET site.
to the slide.
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Create a bulleted list describing four tasks for Foresters that are listed as common tasks on the O*NET
site.
• Monitor contract compliance and results of forestry activities to assure adherence to
government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Create a bulleted list describing four work activities for Foresters that are listed as common work
activities on the O*NET site.
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Create a bulleted list describing work contexts for Foresters that are listed as common work contexts on
the O*NET site.
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Create a bulleted list describing four tasks for Nursery and Greenhouse Managers that are listed as
common tasks on the O*NET site.
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Create a bulleted list describing four work activities for Nursery and Greenhouse Managers that are
listed as common work activities on the O*NET site.
to the slide.
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Create a bulleted list describing work contexts for Nursery and Greenhouse Managers that are listed as
common work contexts on the O*NET site.
to the slide.
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Create a bulleted list describing four tasks for Veterinarians that are listed as common tasks on the
O*NET site.
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Create a bulleted list describing four work activities for Veterinarians that are listed as common work
activities on the O*NET site.
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Create a bulleted list describing work contexts for Veterinarians that are listed as common work
contexts on the O*NET site.
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation: hope this helps this is what I got
Answer:
“Architecture and Construction Workplaces and Tasks”
Four tasks for Farm workers and Laborers
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Four work activities for Farm workers and Laborers
• Handling and moving objects.
• Performing general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Work contexts for Farm workers and Laborers
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Four tasks for Foresters
• Monitor contract compliance and results of forestry activities to assure adherence to government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Four work activities for Foresters
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Work contexts for Foresters
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Four tasks for Nursery and Greenhouse Managers
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Four work activities for Nursery and Greenhouse Managers
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Work contexts for Nursery and Greenhouse Managers
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Four tasks for Veterinarians
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Work activities for Veterinarians
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Work contexts for Veterinarians
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation:
this is exactly what i turned in !!!! hope it helps
Sheffield Corp. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $24 and Sheffield would sell it for $52. The cost to assemble the product is estimated at $15 per unit and the company believes the market would support a price of $64 on the assembled unit. What decision should Sheffield make
Answer:
Sell before assembly, the company will be better off by $3 per unit
Explanation:
the aim of a firm is to maximise profit. The decision the firm would make would be based on the decision that yields the higher profit
Profit = revenue - cost
Profit that would be earned from selling the unassembled unit = $52 - $24 = $28
Profit that would be earned from selling the assembled unit = $64 - ($15 + $24) = 25
The profit from selling the unassembled product is greater than the profit from selling the assembled product by $3. The firm would prefer to sell the unassembled unit
Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the following operating results while operating at 75% of plant capacity:
Sales (350,000 units) $4,375,000
Cost of goods sold 2,600,000
Gross profit 1,775,000
Operating expenses 840,000
Net income $ 935,000
Cost of goods sold was 70% variable and 30% fixed; operating expenses were 80% variable and 20% fixed. In September, Moonbeam receives a special order for 15,000 toasters at $7.60 each from Luna Company. Acceptance of the order would result in an additional $3,000 of shipping costs but no increase in fixed costs.
Instructions
a. Prepare an incremental analysis for the special order.
b. Should Moonbeam accept the special order?
Answer:
Moonbeam Company
a) Incremental Analysis for the Special Order:
Sales (15,000) at $7.60 $114,000
Variable cost of sales 5.20 78,000
Variable overhead 1.92 28,800
Total variable costs ($106,800)
Contribution $7,200
b) Moonbeam should accept the special order. It makes a contribution of $7,200 to the defraying of the fixed costs.
Explanation:
a) Data and Calculations:
operating results while operating at 75% of plant capacity:
Total Unit
Sales (350,000 units) $4,375,000 $12.50
Cost of goods sold 2,600,000
Variable (70%) $1,820,000 5.20
Fixed (30%) 780,000
Gross profit 1,775,000
Operating expenses 840,000
Variable (80%) $672,000 1.92
Fixed (20%) 168,000
Net income $ 935,000
Incremental Analysis for the Special Order:
Sales (15,000) at $7.60 $114,000
Variable cost of sales 5.20 78,000
Variable overhead 1.92 28,800
Total variable costs ($106,800)
Contribution $7,200
b) Incremental analysis concentrates on the variable elements of costs. The method disregards all fixed costs as they are regarded as sunk or past costs, and therefore, irrelevant to the decision at hand.
You invest $1,000 in a risky asset with an expected rate of return of 0.17 and a standard deviation of 0.40 and a T-bill with a rate of return of 0.04. What percentages of your money must be invested in the risk-free asset and the risky asset, respectively, to form a portfolio with a standard deviation of 0.20
Answer:
50%, 50%
Explanation:
% of money invested in risky asset = Portfolio standard deviation/Standard deviation of risky asset
% of money invested in risky asset = 0.20/0.40
% of money invested in risky asset = 50.00%
% of money invested in risk free asset = 1 - 50.00%
% of money invested in risk free asset = 50.00%
Stewart Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plant-wide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. From the following information, using a single plant-wide rate, determine the overhead rate per unit for Product A:
Overhead Direct Labor Product
Hours (dlh) A B
Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh
Finishing Dept. 72,000 10,000 4 16
Totals $320,000 20,000 dlh 20 dlh 20 dlh
======== ========== ====== ======
a. $496.00 per unit
b. $320.00 per unit
c. $144.00 per unit
d. $640.00 per unit
Answer:
Allocated MOH= $320
Explanation:
Giving the following information:
Overhead Direct Labor Product
Hours (dlh) A B
Painting Dept. $248,000 10,000 dlh 16 dlh 4 dlh
Finishing Dept. 72,000 10,000 4 16
Totals $320,000 20,000 dlh 20 dlh 20 dlh
First, we need to calculate the plantwide overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 320,000 / 20,000
Predetermined manufacturing overhead rate= $16 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 16*20
Allocated MOH= $320
tumutukoy sa tuwirang pagsupil sa diwang makabayan sat pagkat aaklas ng mga pilipinas laban sa mga amerikano
Answer:
Pilipinasyonhopefully help:)
Explanation:
#CarryOnLearningThese are selected account balances on December 31, 2017.
Land $150,000
Land (held for future use) 225,000
Buildings 1,200,000
Inventory 300,000
Equipment 675,000
Furniture 150,000
Accumulated Depreciation 450,000
What is the total amount of property, plant, and equipment that will appear on the balance sheet?
a. $2,250,000
b. $1,950,000
c. $2,700,000
d. $1,725,000
Answer:
D. $1,725,000
Explanation:
Given the above information,
Total amount of property, plant and equipment = land (location of the office building) + office building + equipment + office furniture - Accumulated depreciation
= $150,000 + $1,200,000 + $675,000 + $150,000 - $450,000
= $1,725,000
Charlotte's Crochet Shoppe has 11,300 shares of common stock outstanding at a price per share of $65 and a rate of return of 11.21 percent. The company also has 340 bonds outstanding, with a par value of $1,000 per bond. The pretax cost of debt is 5.93 percent and the bonds sell for 94.2 percent of par. What is the firm's WACC if the tax rate is 39 percent
Answer:
Please see below
Explanation:
Given that;
Common stock outstanding = 11,300
Price per share = $65
Number of bonds outstanding = 340
Bonds sell for $94.2 percent of par
Par value per bond = $1,000
Market value of common stock = Common stock outstanding × Price per share
= 11,300 × $65
= $734,500
Market value of debt:
Number of bonds outstanding × [Percent of par × Par value]
= 340 × [0.942 × $1,000]
= 340 × $942
= $320,280
Total market value:
= Market value of common stock + Market value of debt
= $734,500 + $320,280
= $1,054,780
WACC:
= [(Market value of debt ÷ Total market value) × Pretax cost of debt × (1 - Tax rate)] + [(Market value of common stock ÷ Total market value) × Rate of return]
= [($320,280 ÷ $1,054,780) × 0.00593 × (1 - 0.39)] + [($734,500 ÷ $1,054,780) × 0.1121]
= [(0.303646258) × 0.0036173 + [0.00780612545]
= 0.0010983796 + 0.00780612545
= 0.008904505
= 0.89%
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs Variable $ 40 per unit Fixed $ 6,600,000 (per year) Selling and administrative costs for the year Variable $ 725,000 Fixed $ 4,250,000 Production and sales for the year Units produced 110,000 units Units sold 80,000 units Sales price per unit $ 350 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing
Answer:
Results are below.
Explanation:
Absorption vs Variable costing method
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
1) First, we need to calculate the total unitary variable cost:
Unitary production variable cost= 35 + 55 + 40= $130
Selling and administrative costs for the year Variable $ 725,000
Unitary total variable cost= 130 + (725,000 / 80,000)= $139.06
Now, the variable income statement:
Sales= 80,000*350= 28,000,000
Total variable cost= (80,000*139.06)=(11,124,800)
Total contribution margin= 16,875,200
Fixed overhead= (6,600,000)
Fixed Selling and administrative costs = (4,250,000)
Net operating income= 6,025,200
2) First, we need to calculate the unitary production cost:
Unitary production cost= 130 + (6,600,000/110,000)= $190
Now, the absorption costing income statement:
Sales= 28,000,000
COGS= 80,000*190= (15,200,000)
Gross profit= 12,800,000
Total Selling and administrative costs= (725,000 + 4,250,000)= (4,975,000)
Net operating income= 7,825,000
A large brewing company has its public relations staff create an interactive website aimed at men and women in their 20s and early 30s. It offers interesting facts about the history of beer, the making of beer, the definition of various brewing terms, the difference between hops and malt, etc. It also includes games like crossword puzzles, word jumbles, and trivia contests related to beer. The objective of such PR initiatives is to:
Answer: c. promote goodwill toward beer drinkers.
Explanation:
The purpose of this campaign is to increase the the appreciation of beer and its industry in the minds of people.
This will therefore promote goodwill towards beer drinkers as they will be less ostracised if people appreciate beer more.
This is good for the beer industry because it would increase sales when people who were worried about their pubic image become less worried and drink more.
Lopez Corporation incurred the following costs while manufacturing its product.
Materials used in product $122,200 Advertising expense $49,900
Depreciation on plant 69,200 Property taxes on plant 17,600
Property taxes on store 8,590 Delivery expense 28,300
Labor costs of assembly-line workers 113,100 Sales commissions 44,400
Factory supplies used 34,000 Salaries paid to sales clerks 51,300
Work in process inventory was $13,300 at January 1 and $17,200 at December 31. Finished goods inventory was $68,800 at January 1 and $47,900 at December 31.
Required:
a. Compute cost of goods manufactured.
b. Compute cost of goods sold.
Answer:
a. $352,200
b. $372,100
Explanation:
The cost of goods manufactured
Consider only the manufacturing costs
Cost of goods manufactured = $122,200 + $69,200 + $17,600 + $113,100 + $34,000 + $13,300 - $17,200
=$352,200
Cost of goods sold
Add Cost of goods manufactured to the net of Finished inventory balance
Cost of goods sold = $47,900 $68,800 + $352,200 - $47,900
= $372,100
Bryant leased equipment that had a retail cash selling price of $750,000 and a useful life of six years with no residual value. The lessor spent $605,000 to manufacture the equipment and used an implicit rate of 8% when calculating annual lease payments of $150,219 beginning January 1, the beginning of the lease. Lease payments will be made January 1 each year of the lease. Incremental costs of consummating the lease transaction incurred by the lessor were $22,500. What is the effect of the lease on the lessor’s earnings during the first year, not including any effect of depreciation no longer required on the asset under lease (ignore taxes)? (Input decreases to income as negative amounts. Round Interest revenue to the nearest whole dollar.)
Answer: $170,482.48
Explanation:
Effect of lease:
= Sales - Cost of goods sold (cost to manufacture) + Interest revenue - Selling expense
Interest revenue = (Selling price - Interest paid) * Interest rate
= (750,000 - 150,219) * 8%
= $47,982.48
Effect of lease = 750,000 - 605,000 + 47,982.48 - 22,500
= $170,482.48
Question 10 of 10
Which of the following is a true statement based upon the principle of the
time value of money?
A. The value of money does not increase or decrease as time
passes.
B. Money loses value over time if not used.
C. It is always best to receive money at a later point in time rather
than an earlier point in time.
O D. Money increases in value as time passes so long as it is not
invested.
Answer:
B. Money loses value over time if not used.
Explanation:
Money loses value over time and the reason why is inflation.
Inflation is the general increase in the price of the goods and services within an economy. Inflation causes money to lose value over time if not used because it reduces the purchasing power of money. This is why money should be used if it is not to be spent, mainly as a form of investment with the goal of earning an interest rate that is higher than inflation, or at least, equal to inflation.
Answer:
B. Money loses value over time if not used.
Explanation:
Money loses value over time and the reason why is inflation. Inflation is the general increase in the price of the goods and services within an economy. Inflation causes money to lose value over time if not used because it reduces the purchasing power of money. This is why money should be used if it is not to be spent, mainly as a form of investment with the goal of earning an interest rate that is higher than inflation, or at least, equal to inflation.
Indigo Company sold 10,000 Super-Spreaders on during 2017, at a total price of $885,200, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $350,500. The assurance warranties extend for a 3-year period and are estimated to cost $65,100. During 2017, warranty related costs amounted to $15,600. Indigo also sold extended warranties (service-type warranties) related to 3,000 spreaders for 2 years beyond the 2-year period for $25,200. Given this information, determine the amounts to report for the following at December 31, 2017: sales revenue, cost of goods sold, warranty expense, unearned warranty revenue, warranty liability, and cash.
Answer:
Indigo Company
Sales Revenue = $885,200
Cost of goods sold = $350,500
Warranty Expense = $65,100
Unearned warranty revenue = $25,200
Warranty liability = $49,500 ($65,100 - $15,600)
Cash = $544,300 ($885,200 + $25,200 - $350,500 - $15,600)
Explanation:
a) Data and Calculations:
Income Statement for the year ended December 31, 2017 (Partial)
Sales Revenue $885,200
Cost of goods sold 350,500
Gross profit $534,700
Warranty Expense 65,100
Net income $469,600
Balance Sheet as of December 31, 2017 (Partial)
Assets:
Cash $544,300
Liabilities:
Retained earnings $469,600
Unearned warranty revenue 25,200
Warranty liability 49,500
Total liabilities $544,300
Energy Manufacturing Inc. provides the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry $320,000 16,000 hours Account billing $200,000 4,000,000 lines Account verification accounts $173,250 70,000 accounts Correspondence letters $24,000 4,000 letters Total costs $717,250 The above activities are used by Departments A and B as follows: Department A Department B Account inquiry hours 4,200 hours 2,700 hours Account billing lines 900,000 lines 750,000 lines Account verification accounts 8,000 accounts 6,000 accounts Correspondence letters 1,400 letters 1,800 letters How much of the account inquiry cost will be assigned to Department A
Answer: $84,000
Explanation:
Cost per hour for Account inquiry = Account inquiry cost / Activity cost - drivers
= 320,000 / 16,000 hours
= $20 per hour
Department A has 4,200 hours of account inquiry. Cost will be:
= 4,200 * 20
= $84,000
An environmental soil cleaning company received a contract to remove BTEX contamination from an oil company tank farm site. The contract required the soil cleaning company to provide quarterly invoices for materials and services provided. If the material costs were $140,000 per quarter and the service charges were calculated as an additional 20% of the material costs, what is the present worth of the contract through the 3-year treatment period at an interest rate of 1% per month
Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,000 Permanent differences (16,100 ) 162,900 Temporary difference-depreciation (11,100 ) Taxable income $ 151,800 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2020 $ 14,000 As of December 31, 2021 $ 25,100 The enacted tax rate was 27% for 2020 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2021
Answer:
the current portion of the income tax expense is $40,986
Explanation:
The computation of the current portion of the income tax expense is shown below:
= Taxable income × enacted tax rate
= $151,800 × 27%
= $40,986
hence the current portion of the income tax expense is $40,986
We simply applied the above formula
The Widget Co. purchased new machinery three years ago for $4 million. The machinerycan be sold to the Roman Co. today for $2 million. The Widget Co.'s current balance sheetshows net fixed assets of $2,500,000, current liabilities of $1,375,000, and net working capitalof $725,000. If all the current assets were liquidated today, the company would receive $1.9million in cash. The book value of the Widget Co.'s assets today is _____ and the marketvalue of those assets is _____.
A. $4,600,000; $3,900,000
B. $4,600,000; $3,125,000
C. $5,000,000; $3,125,000
D. $5,000,000; $3,900,000
E. $6,500,000; $3,900,000
Answer: A. $4,600,000; $3,900,000
Explanation:
Based on the information that have been provided in the question, the book value will be calculated as:
= Net working capital + Current liabilities + Net fixed assets
= $725,000 + $1,375,000 + $2,500,000
= $4,600,000
Market value will be:
= $1,900,000 + $2,000,000
= $3,900,000
Therefore, the answer is option A.
Market Inc. has two divisions, Talbot and Heather. Following is the income statement for the past month: Talbot Heather Total Sales$280,000 $168,000 $448,000 Variable Costs 168,000 67,000 235,000 Contribution Margin 112,000 101,000 213,000 Fixed Costs (allocated) 112,500 67,500 180,000 Profit Margin$(500) $33,500 $33,000 What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable
Answer:
$(79,000)
Explanation:
Calculation to determine What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable
Using this formula
Market's profit margin =Contribution margin - Fixed costs
Let plug in the formula
Market's profit margin=$101,000-$180,000
Market's profit margin=$(79,000)
Therefore What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable is $(79,000)
A(n) _____ is a situation in which moral implications shape an individual’s decisions.
ethical issue
revelatory issue
moral dilemma
situational imperative
During 2020 the Pharoah Company had a net income of $85100. In addition, selected accounts showed the following changes: Accounts Receivable $2700 increase Accounts Payable 900 increase Buildings 3900 decrease Depreciation Expense 1400 increase Bonds Payable 7900 increase What was the amount of cash provided by operating activities
Answer:
Cash provided by operating activities $84,700
Explanation:
The computation of the amount of cash provided by operating activities is shown below:
Net income $85,100
Add: depreciation expense $1,400
Less: increase in account receivable -$2,700
Add: Increase in account payable $900
Cash provided by operating activities $84,700
A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 160 units $ 350 June 10 220 units 580 June 15 220 units 700 June 28 130 units 560 $2190 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is
Answer:
cap
Explanation:
1. Gross domestic product is
a. the total value of all goods produced in a year.
b. the total value of all final goods and services produced in a year.
c. the total value of all services produced in a year.
d. none of the above.
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents $5,800
Accounts receivable (net) 28,000
Inventory 68,000
Property, plant, and equipment (net) 160,000
Accounts payable 47,000
Salaries payable 19,000
Paid-in capital 140,000
The only asset not listed is short-term investments. The only liabilities not listed are $38,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1.
Required:
Determine the following at December 31, 2021:
1. Total current assets.
2. Short-term investments.
3. Retained earnings.
Answer and Explanation:
The calculations are given below:
1. Total current assets
we know that
Current ratio = Current assets ÷ current liabilities
where,
Current liabilities is
= Accounts payable + Accrued interest + Salaries payable
= $47,000 + $1,000 + $19,000
= $67,000
And,
Current ratio = 1.6:1
So,
Total current assets is
= 1.6 × $67,000
= $107,200
b. Short term investment is
Short term investment = Total current assets - Cash and cash equivalents - Accounts receivables - Inventories
= $107,200 - ($5,800 + $28,000 + $68,000)
= $5,400
c. Now retained earning is
Total assets
= Total current assets + Property, plant and equipment
= $107,200 + $160,000
= $267,200
Total liabilities is
= Current liabilities + Notes payable
= $67,000 + $38,000
= $105,000
Now Retained earnings is
= Total assets - Total liabilities - Paid in capital
= $267,200 - $105,000 - $140,000
= $22,200
Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 7%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 0.50%, which are deducted from portfolio assets at year-end. a. What is the net asset value at the start and end of the year
Answer:
Missing word "What is the Rate of return"
a. Asset at the end of the year = (Asset at the start of the year + Increase in value) * 12b-1 charges
Asset at the end of the year = ($219 million+ ($219 million * 7%)) * (1-0.50%)
Asset at the end of the year = ($219 million + $15.33 million) * 0.9950
Asset at the end of the year = $234.33 million * 0.9950
Asset at the end of the year = $233.16 million
Net asset value at the end of the year = Asset at the end of the year / Number of shares
Net asset value at the end of the year = $233.15835 million / 12 million
Net asset value at the end of the year = $19.430
b. Rate of return = (Net asset value at the end of the year + dividend per share - Net asset value at the start of the year) / Net asset value at the start of the year
Rate of return = ($19.430 + ($6 / 12) - $18.250) / $18.250
Rate of return = ($19.430 + $0.50 - $18.250) / $18.250
Rate of return = $1.68 / $18.250
Rate of return = 9.20%
A building with an appraisal value of $136,787 is made available at an offer price of $157,859. The purchaser acquires the property for $34,148 in cash, a 90-day note payable for $27,610, and a mortgage amounting to $58,126. The cost basis recorded in the buyer's accounting records to recognize this purchase is
Answer:
the cost basis recorded to recognize this purchase is $119,884
Explanation:
The computation of the cost basis recorded to recognize this purchase is shown below:
= Acquired property in cash + note payable + mortgage
= $34,148 + $27,610 + $58,126
= $119,884
Hence, the cost basis recorded to recognize this purchase is $119,884
Ana and Shen need to decide which one of them will need to take time off work to complete the rather urgent task of shearing their llamas. Ana is pretty good with a pair of shears; she can shear the llamas in one hour. Shen is somewhat slow; it takes him six hours to shear the llamas. Ana earns $120 per hour as a business consultant, while Shen earns $15 per hour as a lifeguard.
Keeping in mind that either Ana or Shen must take time off work to shear the llamas, who has the lowest opportunity cost of completing the task?
A. Ana
B. Shen
C. Ana and Shen face identical opportunity costs
Answer:
B
Explanation:
We have to consider the opportunity cost of both parties
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If Ana chooses to shear, she would be forgoing an income $120
If Shen chooses to shear for 6 hours, she would be forgoing an income ($15 x 6) = 90
Shen has a lower opportunity cost and should shear
4. What would be the best pricing strategy for a deli opening in a competitive business
district where the lunchtime rush is the bulk of the business? Explain your answer
Answer:
During the times of opening, the business can offer lucrative and attractive discounts and deals such as buy one get one free deals or opening offers or different deals and discounts to gain competitive business advantage.
Explanation: