bonds are considered the riskiest of all corporate bonds and thus offer the highest interest rates. a. subordinated debentures b. senior mortgage bonds c. debentures

a) Insurance expense for one month = $6,903/9 = $767. Accumulated insurance expense as of February 28 = $767.

Insurance is a contract between an individual or entity and an insurance company, in which the individual or entity pays a premium in exchange for the insurer's promise to compensate for specific losses or damages. The purpose of insurance is to provide financial protection against unforeseen events, such as accidents, illnesses, or natural disasters.

To adjust the financial statements for the given information, the following adjustments need to be made:

a) Insurance expense for one month = $6,903/9

= $767.

Accumulated insurance expense as of February 28 = $767.

b) Depreciation expense on washers and dryers is calculated using the straight-line method, where the total cost of equipment is divided by the number of useful years. From the chart of accounts, the cost of equipment is $62,100, and the useful life is 5 years. Thus, the monthly depreciation expense is $1,035 ($62,100/5/12). Accumulated depreciation as of February 28 = $1,035.

c) Rent revenue earned for the month = $8,900.

d) Supplies on hand as of February 28 = $1,743.

e) Interest expense accrued on the loan is not given, so this adjustment cannot be made.

f) Depreciation expense on the building is calculated using the straight-line method, where the total cost of the building minus its salvage value is divided by the number of useful years. From the chart of accounts, the cost of the building is $2,345,000, the salvage value is $315,315, and the useful life is 35 years. Thus, the monthly depreciation expense is $6,079 ($2,345,000 - $315,315 / 35 / 12). Accumulated depreciation as of February 28 = $6,079.

g) Accrued salaries expense = $1,160.

h) Income tax expense is calculated as 28% of the adjusted income. The adjusted income is calculated as follows:

Total revenue = $8,900

Insurance expense = $767

Depreciation expense on washers and dryers = $1,035

Depreciation expense on building = $6,079

Salaries expense = $1,160

Supplies expense = $0 (since it is given as the amount on hand)

Total expenses = $9,041

Adjusted income before taxes = $8,900 - $9,041 = -$141

Since the adjusted income before taxes is negative, there is no income tax expense to record.

Based on the adjustments made, the adjusted trial balance would show the following account balances:

Insurance Expense: $767

Accumulated Insurance Expense: $767

Depreciation Expense - Washers and Dryers: $1,035

Accumulated Depreciation - Washers and Dryers: $1,035

Rent Revenue: $8,900

Supplies: $1,743

Accrued Salaries Expense: $1,160

Depreciation Expense - Building: $6,079

Accumulated Depreciation - Building: $6,079

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Based on a social perspective, it can be concluded that strike action is not a waste of time, but serves a meaningful purpose.

Strike Action is a term that is used to describe a work stoppage caused by the mass refusal of employees to work.

Generally, a strike action usually takes place in response to employee grievances. It is also called a labor strike, labor strike, or simply strike.

The positive effects of strike actions show that strike actions are not a waste of time because it gives the chance to implement major changes such as increment in salary, payments of wages, and grant of leaves amongst others.

Hence, in this case, it is concluded that strike action is not a waste of time, but serves a meaningful purpose.

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The Human Relations era supplanted scientific management as the dominant approach to management during the 1930s.

Scientific management is a management theory that seeks to improve worker productivity by identifying and removing the inefficiencies. The technique was pioneered by Frederick Winslow Taylor and became popular in the early 20th century.

The philosophy emphasizes the use of empirical data and a scientific approach to identify the most effective methods of performing work. It is also referred to as "Taylorism."What is the Human Relations era?The Human Relations era is a theory of management that emerged in the 1930s.

It emphasizes the importance of employee satisfaction, communication, and motivation in improving productivity. It's based on the belief that workers are motivated by more than just money and that social and psychological factors influence their productivity.

The era also focuses on developing a positive relationship between the employer and the employees, with the goal of increasing job satisfaction and reducing turnover.

The Human Relations era supplanted scientific management as the dominant approach to management during the 1930s. This is because the human relations era believed that worker productivity could be improved through increased job satisfaction, motivation, and communication.

This was a departure from the scientific management philosophy, which focused solely on improving worker efficiency.

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One way you can increase the multi-factor productivity of your toy manufacturing plant is to d. hire additional workers.

Multi-factor productivity is an economic calculation that determines how much economic output can be produced from the sum of inputs used to produce that output. The multi-factor productivity ratio is obtained by dividing total output by the weighted sum of labor hours, capital costs, materials costs, and any other inputs.

The formula for Multi-factor productivity is Multi-factor Productivity = (Output) / [(L) Labor + (K) Capital + (M) Materials + (O) Overhead]As per the given options, hiring additional workers will increase the labor input which, in turn, will help in increasing the output. Therefore, the correct answer is option d.

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When developing a comprehensive system maintenance plan for a small business, the first step is to identify potential issues with their computer system. This includes analyzing the current system used and looking for any software glitches, hardware failures, network connectivity issues, and security vulnerabilities.

After these potential issues have been identified, the next step is to develop a maintenance schedule. This should include regular updates and security checks for software, hardware maintenance, and network checks. Additionally, a contingency plan should be developed in case of system failures, which should include backup and recovery procedures. Finally, a report outlining the system maintenance plan should be written. This should include an executive summary, a detailed maintenance schedule, a contingency plan, and any other relevant information.

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The Mohling Company typically sells subscriptions on an annual basis and publishes eight times a year. The magazine sells 60,000 subscriptions in January at $10 each. Recording the sale of the subscriptions involves a journal entry.

Recording the sale of subscriptions involves the following journal entry:

Debit Cash for $600,000

Credit Unearned Subscription Revenue for $600,000

The company should record the cash received from the subscribers as a debit to Cash account, which will increase the Cash account on the balance sheet. Since the company receives payment in advance for the subscription, the revenue should be recorded as unearned, i.e., it is a liability on the balance sheet, so the company should credit the Unearned Subscription Revenue account. The journal entry for the sale of subscriptions is crucial as it enables the company to record the cash received and the liability created due to the sale of subscriptions.

The entry also helps in recognizing the income earned from subscriptions as the company delivers the magazines throughout the year.In summary, the sale of subscriptions requires a journal entry that debits Cash account and credits Unearned Subscription Revenue account. The journal entry enables the company to record the cash received, liability created, and revenue recognized over the year.

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It is unclear what is meant by "$365 per hour. 00 monthly". If it means that the lady incurs a monthly cost of $365.00 per hour that she spends selling the clothes, then we would need to know how many hours she spends selling the clothes in order to calculate her total cost and profit.

Let's calculate the total cost of the pants:

100 pants * $5.00/pant = $500.00

And the total cost of the shirts:

100 shirts * $3.00/shirt = $300.00

The total cost of the clothes is the sum of the cost of the pants and shirts:

$500.00 + $300.00 = $800.00

Adding the cost of transportation, we get:

$800.00 + $10.00 = $810.00

The lady also incurs a monthly cost of $100.00, so her total cost for the month is:

$810.00 + $100.00 = $910.00

Assuming the lady sells each pant and shirt for the same price, she would need to sell each item for:

$910.00 / 200 items = $4.55 per item

If the lady sells each item for $4.55, her revenue would be:

200 items * $4.55/item = $910.00

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Note:- Question in English

A lady buys 100 pants and 100 shirts, the pants cost her $5. 00 each and the shirts $3.00 each, she pays $10.00 for transportation, $100.00 locally, monthly, and $365 per hour. 00 monthly as she will sell each of the pants and shirts, do the respective calculation.

To be indifferent between the two bonds, the municipal bond would have to offer an interest rate of 5% for Bill.

The after-tax return on the corporate bond is:

After-tax return = Bond interest rate x (1 - Marginal tax rate)

After-tax return = 0.05 x (1 - 0.17)

After-tax return = 0.05 x 0.83

After-tax return = 0.0415 or 4.15%

To be indifferent between the corporate bond and the municipal bond, Bill would require the municipal bond to offer an after-tax return of 4.15%. We can calculate the interest rate that the municipal bond would have to offer as follows:

Interest rate = After-tax return / (1 - Marginal tax rate)

Interest rate = 0.0415 / (1 - 0.17)

Interest rate = 0.0415 / 0.83

Interest rate = 0.05 or 5%

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a) The accounts receivable turnover is 14.0 times.

b) The number of days' sales in receivables is 26.1 days

To calculate the accounts receivable turnover, we use the formula:

To calculate the number of days' sales in receivables, we use the formula:

Therefore, the accounts receivable turnover = 14.0 times, and the number of days' sales in receivables  = 26.1 days.

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A bond has a face value of $1000, a coupon rate of 6%, pays interest annually, and has 10 years to maturity. The yield to maturity is 5%.First, we can calculate the current price of the bond using the bond pricing formula:

P = (60/0.05) x (1 - 1/(1+0.05)[tex]x^{2}[/tex]10) + 1000/(1+0.05)[tex]x^{10}[/tex]

P = $1123.46 Next, we can calculate the duration of the bond:D = [(1 x 1) + (2 x 2) + ... + (10 x 10)] x (60/1123.46) / (1+0.05)[tex]x^{2}[/tex]10

D = 7.99 Now, if the yield to maturity increases by 0.25%, we can use duration to estimate the percentage change in the bond price: Percentage change in price = -duration x (change in yield) Percentage change in price = -7.99 x 0.0025 Percentage change in price = -0.02 or -2%New price bond duration = $1123.46 x (1 - 0.02) = $1101.99We can also calculate the new price using the bond pricing formula with the new yield to maturity:P = (60/0.0525) x (1 - 1/(1+0.0525)[tex]x^{2}[/tex]10) + 1000/(1+0.0525)[tex]x^{2}[/tex]10 P = $1101.99 If the yield to maturity increases by 1%, we can use duration to estimate the percentage change in the bond price:

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1. The adjusting entry is

December 31, 2021 Bad Debt Expense 9,250
Allowance for Uncollectible Accounts 9,250

2. a. The write-off of accounts receivable is

December 31, 2022 Allowance for Uncollectible Accounts 8,325
Accounts Receivable 8,325

b. The balance of Allowance for Uncollectible Accounts

Beginning Balance in 2022 = $9,250
Ending Balance in 2022 = $925

3. a. The write-off of accounts receivable is

December 31, 2022 Allowance for Uncollectible Accounts 13,320

Accounts Receivable 13,320

b. The balance of Allowance for Uncollectible Accounts

Beginning Balance in 2022 = $9,250
Ending Balance in 2022 = $9,250 - $13,320 (write-off in 2022) = -$4,070

1. The adjusting entry for uncollectible accounts on December 31, 2021 is as follows:
Date General Journal Debit Credit
December 31, 2021 Bad Debt Expense 9,250
Allowance for Uncollectible Accounts 9,250

Calculation:
Uncollected accounts = $134,000 - $97,000 = $37,000
Estimated uncollectible accounts = $37,000 x 25% = $9,250

2-a. The write-off of accounts receivable in 2022 is as follows:
Date General Journal Debit Credit
December 31, 2022 Allowance for Uncollectible Accounts 8,325
Accounts Receivable 8,325

2-b. The balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022) is as follows:
Beginning Balance in 2022 = $9,250 (from the adjusting entry in 2021)
Ending Balance in 2022 = $9,250 - $8,325 (write-off in 2022) = $925

3-a. The write-off of accounts receivable in 2022 with actual write-offs of $13,320 is as follows:
Date General Journal Debit Credit
December 31, 2022 Allowance for Uncollectible Accounts 13,320
Accounts Receivable 13,320

3-b. The balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022) with actual write-offs of $13,320 is as follows:
Beginning Balance in 2022 = $9,250 (from the adjusting entry in 2021)
Ending Balance in 2022 = $9,250 - $13,320 (write-off in 2022) = -$4,070 (debit balance)

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The value of our forecast for week 7 using the weighted moving average method is 48.084.

Emergency care in the medical field refers to immediate medical treatment provided to patients suffering from sudden and severe medical conditions or injuries that require urgent attention, often in an emergency department or ambulance setting.

To calculate the weighted moving average forecast for week 7, we need to multiply the actual demand levels for the past four weeks by their respective weights and then add up the results. Using the given weights of 0.333, 0.250, 0.250, and 0.167 for the present period, one period ago, two periods ago, and three periods ago, respectively, we have:

Forecast for Week 7 = (0.333 × 55) + (0.250 × 46) + (0.250 × 39) +

(0.167 × 57)

= 18.315 + 11.5 + 9.75 + 9.519

= 48.084

Therefore, the value of our forecast for week 7 using the weighted moving average method is 48.084.

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Performing a quality of earnings assessment involves analyzing the financial statements and assessing the reliability and accuracy of a company's reported earnings.

Here are some steps that can be taken to perform a quality of earnings assessment:

Obtain the annual report for the corporation and carefully review the income statement, balance sheet, and cash flow statement.

This is not an exhaustive list, but some of the elements that should be taken into account when perform a quality of earnings assessment.

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Answer:

B.) network marketing

Explanation:

Since Ricky purchased the account receivable for $45,000 and collected $46,000 during the current year, he would realize a gain of $1,000. (Option F).

The tax consequences to Ricky associated with the collection of the account receivable depend on the tax treatment of the transaction.

If Ricky treated the purchase of the account receivable as a capital asset, the gain or loss on the sale would be a capital gain or loss.

In this case, since Ricky purchased the account receivable for $45,000 and collected $46,000 during the current year, he would realize a gain of $1,000. The tax consequences of this gain would depend on Ricky's holding period for the account receivable and his tax bracket.

If Ricky treated the purchase of the account receivable as a business asset, the gain or loss on the sale would be ordinary income or loss.

In this case, since Ricky purchased the account receivable for $45,000 and collected $46,000 during the current year, he would realize a gain of $1,000. This gain would be taxed at Ricky's ordinary income tax rate, which again depends on his tax bracket.

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Yes, capacity is available to apply these approaches and methodologies.

However, depending on the specific approach or methodology, it may need to be developed or sourced externally. For example, if the approach or methodology requires a specialized set of skills or expertise, then it may need to be developed internally or sourced from an external provider.

The availability of capacity to apply agile approaches and methodologies would depend on the specific organization and its existing resources, skills, and capabilities. In some cases, an organization may have the necessary capacity and expertise to adopt agile practices and implement them successfully. In other cases, the organization may need to develop new capacity by training employees, hiring new talent, or creating new teams with relevant skills and expertise. Alternatively, the organization may choose to externally source capacity by working with external consultants or partnering with specialized service providers who can help implement agile methodologies. Ultimately, the decision of whether to develop internal capacity or externally source it will depend on the specific needs and priorities of the organization.

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a) The corporation will have a net recognized gain of $12,000

b) Bill will be required to pay capital gains tax on the $3,000 realized gain.

a. The corporation distributes land to Bill that has a basis of $7,000 and a value of $24,000. The corporation must recognize a gain of $17,000 ($24,000 - $7,000) on the distribution of land to Bill.

However, the corporation may reduce this gain by the amount of E&P, which is $5,000.

Therefore, the corporation will have a net recognized gain of $12,000 ($17,000 - $5,000).

The corporation must pay corporate tax on the recognized gain.

b. Bill will receive land with a fair market value of $24,000. Because the land is considered a dividend, the basis of the land will be the same as the basis of Bill's stock in the corporation.

As a result, Bill's basis in the land will be $21,000. This suggests that Bill has a realized gain of $3,000 ($24,000 - $21,000) as a result of receiving the land.

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Three benefits of a smart shopping campaign are:

1. You reach customers across platforms: Smart shopping campaigns enable you to reach potential customers on various platforms, increasing your chances of driving sales and engagement.

2. Easy integration helps you simplify campaign management: Smart shopping campaigns streamline the process of setting up and managing your campaigns by automatically optimizing your bids, targeting, and ad placements.

3. You use real-time signals to help you optimize goals: By utilizing real-time data and machine learning algorithms, smart shopping campaigns continuously adjust and improve performance to achieve your desired objectives, such as increasing conversions or return on ad spend.

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In 2022, brent purchased three season baseball tickets in the exclusive sky club. Brent paid $60,000 for the tickets, and then gave one ticket each to his two brothers. Has Brent made a taxable gift: Yes, Brent has made a taxable gift and the taxable gift is $30,000.

The gift consists of three tickets, with a combined value of $60,000. Each ticket has an individual value of $20,000. The gift tax applies to any transfer of property where the donor does not receive any consideration in return. Since Brent received no consideration in return for the tickets he gifted to his brothers, the gift is taxable.

The gift tax is calculated by subtracting the annual gift exclusion ($15,000 per person, or $30,000 in Brent's case) from the total value of the gift ($60,000). The total amount of taxable gift is $30,000.

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On October 15, 2017, Bramble Company will record the receipt of the payment its journal entry:

Debit: Cash $34,500
Credit: Accounts Receivable $34,500

On November 30, 2017, Bramble Company will record the delivery of the product in its journal entry:
Debit: Inventory $34,500
Credit: Accounts Receivable $34,500

The fundamental units of accounting, known as journal entries, are used to document financial transactions in a company's general ledger. Each journal entry consists of a minimum of two accounts—a debit and a credit—and denotes a value transfer between those accounts.

The basic format for a journal entry is as follows:

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A bond issued by the state of Alabama is priced to yield 6.35%. If you are in the 20% tax bracket, this bond would provide you with an equivalent taxable yield of 7.94%. The correct answer B.

The equivalent taxable yield can be calculated as:

Taxable Yield = Tax-free Yield / (1 - Tax Rate)

Substituting the given values, we get:

Taxable Yield = 6.35% / (1 - 0.20) = 7.94%

Therefore, the answer is 7.94%, meaning that an investor in the 20% tax bracket would need to earn 7.94% on a taxable bond to achieve the same after-tax return as the tax-exempt Alabama bond.

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The amounts Finley should record in the separate accounts for building and equipment will be $ 375,000 and $ 75,000 respectively.

Building                                  $375,000

Equipment                          $75,000

Total                               $450,000

Building:    $450,000 / $480,000 × $400,000 = $375,000        

Equipment:  $450,000 / $480,000 × $80,000 = $75,000

An insurance company holds a separate accounting and reporting account that is not part of its general account but rather "separate." An investor can select an investment category based on his or her individual risk tolerance and desire for performance with a separate account.

The primary distinction between the two types of accounts can be summarized as follows: a general account is subject to the insurance company's creditors, whereas a separate account is not.

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The expression for inventory cost includes ordering, purchasing, and holding costs is equals to K * (D/x) + p * x + (h/2) * x, the equation that holds when the inventory cost is minimized is p * x^2 + h * x = K * D.

The inventory cost consists of three components: the ordering cost, the purchasing cost, and the holding cost. If the company sells D units of the product per year and orders x items at a time, it will need to place D/x orders per year. Therefore, the ordering cost can be expressed as:

Ordering cost = K * (D/x)

The purchasing cost is simply the cost of the products purchased, which is proportional to the number of items ordered. Therefore, the purchasing cost can be expressed as:

Purchasing cost = p * x

If the company orders x items at a time and sells D units per year, on average there will be x/2 items held in inventory at any given time (assuming a steady rate of sales). Therefore, the holding cost can be expressed as:

Holding cost = (h/2) * x

The total inventory cost is the sum of the ordering cost, the purchasing cost, and the holding cost:

Total inventory cost = K * (D/x) + p * x + (h/2) * x

To minimize the inventory cost, we need to find the value of x that minimizes the total inventory cost equation. To do this, we can take the derivative of the total inventory cost equation with respect to x and set it equal to zero:

d/dx (K * (D/x) + p * x + (h/2) * x) = 0

-K * D/x^2 + p + h/2 = 0

-K * D + p * x^2 + h * x = 0

p * x^2 + h * x = K * D

This equation holds when the inventory cost is minimized, and can be solved for x to determine the optimal order quantity.

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1. Total cost of materials handling activity = $90,000 + $3,600 = $93,600

Material cost refers to the expenses associated with the raw materials used in the production of a product or the completion of a project. This cost includes the cost of acquiring the raw materials, as well as any costs associated with the processing, transportation, and storage of the materials.

To calculate the cost of the materials handling activity:

Direct tracing:

Salary of forklift operators: $40,000 x 3 = $120,000

Driver tracing:

Gasoline costs: 1,200 + 4,800 = 6,000 moves

Cost per move = $3

Total cost of gasoline = $3 x 6,000 = $18,000

Depreciation:

Depreciation per forklift = $8,000

Total depreciation = $8,000 x 2 = $16,000

Total moves = 6,000

Depreciation cost per move = $16,000 / 6,000 = $2.67

Total cost of materials handling activity = $120,000 + $18,000 +

($2.67 x 6,000) = $153,020

The resource drivers for the materials handling activity are the number of moves.

To calculate the cost per unit for each product:

Total overhead costs = $450,000

Total direct labor hours = 10,000 + 10,000

= 20,000

Overhead cost per direct labor hour = $450,000 / 20,000

= $22.50

Basic Model:

Prime costs = $80

Direct labor hours = 10,000

Overhead cost per unit = $22.50 x 10,000 = $225,000 / 40,000

= $5.63

Total cost per unit = $80 + $5.63

= $85.63

Deluxe Model:

Prime costs = $160

Direct labor hours = 10,000

Overhead cost per unit = $22.50 x 10,000 = $225,000 / 20,000

= $11.25

Total cost per unit = $160 + $11.25

= $171.25

To calculate activity rates and assign costs to each product:

Maintaining equipment:

Activity rate = $114,000 / 10,000 machine hours = $11.40 per machine hour

Basic model: 5,000 machine hours x $11.40 = $57,000

Deluxe model: 5,000 machine hours x $11.40 = $57,000

Engineering support:

Activity rate = $120,000 / 6,000 engineering support hours = $20 per engineering support hour

Basic model: 1,500 engineering support hours x $20 = $30,000

Deluxe model: 4,500 engineering support hours x $20 = $90,000

Materials handling:

Activity rate = $153,020 / 6,000 moves = $25.50 per move

Basic model: 1,200 moves x $25.50 = $30,600

Deluxe model: 4,800 moves x $25.50 = $122,400

Setting up the equipment:

Activity rate = $96,000 / 80 setups = $1,200 per setup

Basic model: 16 setups x $1,200 = $19,200

Deluxe model: 64 setups x $1,200 = $76,800

Purchasing materials:

Activity rate = $60,000 / 300 requisitions = $200 per requisition

Basic model: 100 requisitions x $200 = $20,000

Deluxe model: 200 requisitions x $200 = $40,000

Receiving goods:

Activity rate = $40,000 / 750 orders processed = $53.33 per order processed

Basic model: 250 orders processed x $53.33 = $13,332.50

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The AFN is negative, this means that the company does not need to issue any new long-term debt in 2002. In fact, the company has an excess of $80,000 that it can use to pay off some of its existing long-term debt.

To find out how much long-term debt the company will have to issue in 2002, we need to use the AFN formula:

AFN = (A*/S0)ΔS - (L*/S0)ΔS - M(S1)(RR)

Where:
- A* is the assets tied directly to sales
- S0 is the current sales level
- ΔS is the change in sales
- L* is the spontaneous liabilities tied directly to sales
- M is the profit margin
- S1 is the new sales level
- RR is the retention ratio

Given the information in the question, we can plug in the values:

AFN = ($1,000,000/$5,000,000)(0.20)($5,000,000) - ($200,000/$5,000,000)(0.20)($5,000,000) - ($100,000)($5,000,000 + $1,000,000)(0.40)

AFN = $200,000 - $40,000 - $240,000

AFN = -$80,000

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If your 2009 adjusted gross income is more than return). If your MAGI is $90,000 or above, you cannot claim a credit.

What is a credit?

A credit report is a summary of your financial history. It comprises information such as mortgages, school loans, and credit cards in your name. Lenders use this information to make choices about you. A credit score varies from 300 to 850 and is a numerical rating that assesses a person's ability to repay a loan. A better credit score indicates that a borrower is less risky and more likely to make on-time payments.

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The given statement "According to one of the most important elements of Porter's diamond model, the presence of industries that provide either materials or components, or that support the activities of the primary industry are present is a prerequisite for a country to support enterprises that can successfully compete in international markets" is true.

Porter's Diamond Model is a model that analyses the competitive advantages of an economy, especially in the international market. The Porter's Diamond Model, also known as the Diamond Model or Porter's theory of the National Competitive Advantage of Countries, explains how factors like the following four elements interact to shape the competitiveness of a nation: Factor conditions, Demand conditions, Related and supporting industries, Firm strategy, structure, and rivalry.

The presence of industries that provide materials or components, or that support the activities of the primary industry is one of the most important elements of Porter's diamond model. It means that a country needs to have a local supplier network, i.e. suppliers that can provide materials or components to the companies in the primary industry. The suppliers and the companies work together to create value-added products or services, which is essential for competitiveness in international markets.

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The three specific functions that must be kept separate in an internal control structure are Authorization, Custody, Recording and Reconciliation.

Authorization: This involves approving and granting permissions for various transactions and activities within the company. It includes functions such as approving purchases, authorizing financial transactions, and granting access to sensitive information or resources.

Custody: This function involves the physical handling, storage, and safeguarding of assets and resources owned by the company. It includes activities such as receiving and storing inventory, handling cash and other financial assets, and maintaining physical control over valuable equipment or documents.

Recording and Reconciliation: This function involves the recording and documentation of transactions, maintaining accurate financial records, and reconciling accounts to ensure accuracy and completeness.

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A) Residual Income using Net Book Value for each year:

The calculation of Residual Income for each year is given below:

Year Depreciable Asset Non-Depreciable Asset Total Asset Depreciation Net Book Value Residual Income

1 20,000 40,000 9,000 31,000 31,000 - 3,040 = 27,960

2 20,000 36,000 9,000 22,000 22,000 - 2,840 = 19,160

3 12,000 24,000 9,000 15,000 15,000 - 2,640 = 12,360

4 8,000 12,000 9,000 9,000 9,000 - 2,360 = 6,640

B) Residual Income using Gross Book Value for each year:

The calculation of Residual Income for each year is given below:

Year Depreciable Asset Non-Depreciable Asset Total Asset Depreciation Gross Book Value Residual Income

1 20,000 40,000 9,000 40,000 12,000 - 4,000 = 8,000

2 16,000 36,000 9,000 36,000 16,000 - 4,840 = 11,160

3 12,000 24,000 9,000 24,000 20,000 - 3,760 = 16,240

4 8,000 12,000 9,000 12,000 28,000 - 4,840 = 23,160

Residual Income = Net Operating Income - (Total Assets x Cost of Capital)

Where,

Net Operating Income = Annual Operating Cash Flows - Depreciation

Cost of Capital = 8%

A) Residual Income using Net Book Value for each year:

Year Depreciable Asset Net Book Value Cost of Capital Residual Income

1 31,000 8% $27,960

2 22,000 8% $19,160

3 15,000 8% $12,360

4 9,000 8% $6,640

B) Residual Income using Gross Book Value for each year:

Year Depreciable Asset Gross Book Value Cost of Capital Residual Income

1 12,000 8% $8,000

2 16,000 8% $11,160

3 20,000 8% $16,240

4 28,000 8% $23,160

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