Broha Company manufactured 1,500 units of its only product during 2016. The inputs for this production are as follows:

450 pounds of Material A at a cost of $1.50 per pound
300 pounds of Material H at a cost of $2.75 per pound
300 direct labor hours at $20 per hour

The firm manufactured 1,800 units of the same product in 2015 with the following inputs:
500 pounds of Material A at a cost of $1.20 per pound
360 pounds of Material H at a cost of $2.50 per pound
400 direct labor hours at $18 per hour

The partial operational productivity of Material H in 2015 is: ___________

a. 0.20.
b. 5.00.
c. 2.00.
d. 0.50.
e. 6.00.

Answers

Answer 1

Answer:

c. 2.00.

Explanation:

The computation of the partial operating activity is given below:

The cost of material H is

= 360 × $2.50

= $900

Now the partial productivity of material H is

= 1,800 ÷ 900

= 2

Hence, the correct option is c.


Related Questions

Logan, a 50-percent shareholder in Military Gear Incorporated (MG), is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume MG has a $107,000 tax loss for the year, Logan's tax basis in his MG stock was $153,500 at the beginning of the year, and he received $78,500 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24 percent, how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation

Answers

Answer:

$11,170

Explanation:

Calculation for how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation

First step is to calculate the payment If Military Gear Inc is a C corporation,

Payment= $78,500 × 24%

Payment= $18,850

Second step First step is to calculate the payment , if Military Gear Inc is a S corporation,

Payment = ($78,500 −$46,500) × 24%

Payment= $7,680

The net effect would be

net effect= $159,000 - $107,000

net effect= $46,500

Now let calculate how much more tax will Logan pay currently if MG

Tax = 18,850 - $7,680

Tax= $11,170

Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June utilities cost to be $8,000 plus $0.70 per jacket. After the month ended, it was reported that 2930 jackets were sold in June and $10,190 was spent on utilities. What is the planning budget for utilities in June

Answers

Answer: $10240

Explanation:

Based on the information that have been provided in the question, the planning budget for the utilities in June will be calculated as:

= Fixed expenses + (Budgeted activity × Variable cost per unit)

where

Fixed expenses = $8000

Budgeted activity = 3200 jackets

Variable cost per unit = $0.70

Therefore, planning budget will be:

= $8,000 + (3,200 × $0.70)

= $8,000 + $2240

= $10240

On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,060 in cash and merchandise inventory valued at $56,290. Wallace invests certain business assets at valuations agreed upon, transfers business liabilities, and contributes sufficient cash to bring her total capital to $59,950. Details regarding the book values of the business assets and liabilities, and the agreed valuations, follow:

Wallace’s Ledger Agreed-Upon
Balance Valuation

Accounts Receivable $18,650 $17,770
Allowance for Doubtful Accounts 1,580 1,950
Equipment 83,230 54,190
Accumulated Depreciation 30,260 –
Accounts Payable 14,910 14,910
Notes Payable (current) 35,970 35,970

The partnership agreement includes the following provisions regarding the division of net income: interest on original investments at 10%, salary allowances of $22,660 (Keene) and $30,270 (Wallace), and the remainder equally.

Required:
a. Journalize the entries on March 1 to record the investments of Keene and Wallacein the partnership accounts.
b. Prepare a balance sheet as of March 1, 20Y8, the date of formation of the partnership of Keene and Wallace.

Answers

Answer:

Explanation:

a. The journal entries are shown below:

Cash $21,060  

Merchandise inventory $56,290  

             To Eric Keene's Capital $77,350

(To record investment made)

Accounts receivable $17,770  

Equipment $54,190  

Cash (Liabilities - Assets) $40,820  

     To Allowance for doubtful accounts $1,950

     To Accounts payable $14,910

     To Notes payable (current) $35,970

    To Reene Wallace's capital $59,950

(Being capital contribution by Reene wallace is recorded)  

2.

KEENE AND WALLACE

Balance Sheet

March 1, 20Y8

Assets    

Current Assets    

Cash (21,060 + 40,820) $61,880  

Accounts Receivable Less Allowance $15,820  

Merchandise inventory $56,290  

Total current assets $133,990  

Property, plant and Equipment    

Equipment $54,190 54,190  

Total Assets   $188,180

Liabilities    

Current Liabilities    

Accounts Payable $14,910  

Notes Payable       $35,970  

Total liabilities       $50,880  

Partner's Equity    

Eric Keene's capital $77,350  

Renee Wallace's capital $59,950  

Total partner's equity  $137,300  

Total liabilities and partner's equity $188,180

Firms use economic analyses to better understand the overall outlook for the economy and how economic changes will impact the firm.

a. True
b. False

Answers

Answer:

True.

Explanation:

It is a true statement.

The firm economic result that is, financial performance depends upon various factors that includes external forces also.

Further, to remain in industry ( or for stable growth ), the firm have to synchronize their activities with the environment.

The question specifies economic environment that relatively impact the firm. So , this statement is true.

Provide an example of an organization that continuously maintains and improves customer satisfaction through a TQM approach. Include specific examples of how customer satisfaction is improved by company initiatives. In your responses to peers, compare and contrast the organization chosen by a peer with the one you chose. How might each organization benefit from the other's experiences with improving customer satisfaction

Answers

Answer:

Customers require value for money.

Explanation:

Total Quality Management TQM is an approach to make the product best for its customers and work towards customer satisfaction. Customers demands may be different, some customers require value for money while others just go for brand image. Some customers like online shopping while other prefer buying the product after watching its specs. The motive of a business is to satisfy the needs of all of its customers. Coca Cola beverages company has also focused on satisfying its customers. It responds to the various flavor requirements by its customers and has introduced more than 5 flavored drinks. The quality of any drink is not compromised and it aims to provide value for money to its customers.

A corporation had the following assets and liabilities at the beginning and end of this year.
Beginning of the year End of the year
Assets $95,500 141,000
Liabilities $40941 57,105
a. Owner made no investments in the business, and no dividends were paid during the year.
b. Owner made no investments in the business, but dividends were $600 cash per month
c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock
d. Dividends were $600 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases (Decreases in equity should be indicated with a minus sign.)
Beginning of the year Equity
Owner investments
Dividends
Net Income (loss)
End of the year-Equity

Answers

Answer:

a. Net Income =$29,336

b. Net Income = $29,936

c. Net Loss = - $15,664

d. Net Income = $5,064

Explanation:

Assets = Liabilities + Equity

Equity = Asset - Liability

Beginning Equity :

Beg Equity = $95,500 - $40941

Beg Equity = $54,559

Ending Equity:

Ending Equity = $141,000 - $57,105

Ending equity = $83,895

Net Income = Ending equity - Beg equity + Dividends paid - investments made

a. When no investments made and no dividends paid:

Net Income = $83,895 - $54,559 + 0 - 0

Net Income =$29,336

b. When no investments made and $600 dividend paid:

Net Income = $83,895 - $54,559 + $600 - 0

Net Income = $29,936

c. When no dividend paid and $45,000 invested in common stock:

Net Income = $83,895 - $54,559 + 0 - $45,000

Net Income = - $15,664

d. When $35,000 investments made and $600 dividend paid:

Net Income = $83,895 - $54,559 + $600 - $35,000

Net Income = $5,064

GIVING BRAINLIEST
hi!.... so i have a question for all of you... how do i make money? ( cuz ya know i'm too young T - T

backstory

i'm going to sound WEIRD ik but here it goes, last christmas i got the microphone i needed for my project, but that's before i realised that the 93$ i had been saving for mo months wasn't going to cut the costs of the drawing tablet i needed... to finally pursue my dream, my yt channel so i looked into getting a job but guess what! the area im living in means that i'm exactly 9 months to young to get one, i would wait but that microphone was expensive and i don't want to so can you help me?

can you please answer or comment some money ideas?

Answers

Answer:

yes, start selling stuff

ex) start a closet on IG, sell on ETSY, Mercardi

2. invest money in stocks its a risk but your money can increase or decrease just make a smart buy

Explanation:

plz mark brainliest

Suppose that Econistan produces two goods, marshmallows and toothpicks, under conditions of constant opportunity costs. Given its resources, the maximum number of marshmallows that it can make is 1000 pounds, and the opportunity cost of making one additional box of toothpicks is 4 pounds of marshmallows. a) (5 points) What is the maximum amount of toothpicks that Econistan can produce

Answers

Answer:

maximum number of toothpicks to be produced = 250

Explanation:

given data

maximum number of marshmallows = 1000 pounds

opportunity cost = 4 pounds

solution

we get here max no of toothpick that is express as

max no of toothpick = maximum number of marshmallows ÷ opportunity cost one toothpicks        .......................1

put here value

max no of toothpick = [tex]\frac{1000}{4}[/tex]

max no of toothpick = 250

maximum number of toothpicks to be produced = 250

Brief summary of New York Yankees Revenue Plan

For Sports Management class.

Answers

Answer:

The Yankees were the lead investors in a group that included Amazon and Sinclair Broadcast Group that bought 80% of the YES Network from Walt Disney in August 2019. The enterprise value of the deal was $3.47 billion. Prior to the deal, the Yankees owned 20% of the regional sports network. Last summer, Disney agreed to sell off 21st Century Fox’s 22 regional sports networks to secure Justice Department approval of its acquisition of major 21st Century Fox assets. The Yankees launched YES, the most-watched regional sports network in the country, in 2002, and the original investors were the team, Goldman Sachs, Quadrangle Group, the owners of the New Jersey (now Brooklyn) Nets, and others. A minority stake in YES was sold to Fox in 2012, and Fox increased its stake to 80% in 2014. The valuation of the sale to Fox was over $4 billion (including $1.7 billion of debt), with the Yankees share valued at $4.2 billion and the remaining portion valued at $3.9 billion.

Explanation:

The following information was drawn from the Year 1 accounting records of Ozark Merchandisers:
Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30.
Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,520. The merchandise had cost Ozark $920.
All customers paid their accounts within the discount period.
Selling and administrative expenses amounted to $4,200.
Interest expense paid amounted to $360.
Land that had cost $8,000 was sold for $9,250 cash.
Required
a. Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
b. Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Amounts to be deducted and losses should be indicated with a minus sign.)
c. Where would the interest expense be shown on the statement of cash flows?
i. Operating activities
ii. Investing activities
iii. Financing activities
d. How would the sale of the land be shown on the statement of cash flows?
i. The full sales price of the land, $9,250, would be shown as a cash inflow from financing activities on the statement of cash flows.
ii. The full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
iii. The full sales price of the land, $9,250, would be shown as a cash inflow from operating activities on the statement of cash flows

Answers

Answer:

Answer is explained in the explanation section below.

Explanation:

Part a: Determination of net sales:

Gross Sales = $39,900

Less: Sales Return = $1520

Less: Sales Discount = ($39,900 -$1520) x 2% = 767.6

Net Sales = $37,612.3

Part b: Income Statement:

Net Sales = $37,612.3

Cost of Goods Sold ($21,200 - $920) = $20,280

Gross Margin ($37,612.3 - $20,280) = $17,332.3

Operating Expenses:

Selling and administrative expenses = $4200

Operating Income ($17,332.3 - $4200) = $ 13,132.3

Non-Operating Items:

Interest Expense = $360

Gain on Sale of Land ( $9250 - $8000) = $1250

Net Income  ($13,132.3  + $1250 - $360) = $14022.3

part c:

The interest expense reported in the operating activities of the statement of cash flows when paid.

part d)

ii. The sale of the land be shown on the statement of the cash flow as the full sales price of the land, $9250, would be shown as a cash inflow investing activities on the statement of the cash flows.  

Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $25 per direct labor hour. Job 603 used the following direct labor hours and machine hours in the two departments:_______.
Assembly Actual results Direct labor hours used Machine hours used The cost for direct labor is $30 per direct labor hour and the cost of the direct materials used by Job 603 is $1,400.
How much manufacturing ovehead would be allocated to Job 603 using the departmental overhead rates?
A. $610
B. $330
C. $580
D. $740

Answers

Answer:

A. $610

Explanation:

The computation of the manufacturing overhead allocated is shown below:

= $50 per machine hour × 11  machine hours used + $15 per direct labor hour × 4 direct labor hour used

= $550 + $60

= $610

Hence, the manufacturing overhead allocated is $610

As the video showed, there are many people who are so concerned about the viability of banks, and indeed the entire financial system, that they are buying gold and silver coins instead of trusting their money to banks. However, the government provides protection from having bank accounts wiped out as they were during the Great Depression. The _____________ is an independent agency of the U.S. government that insures bank deposits (up to $250,000).

Answers

Hard question thx for the points give me brainlest points plz

1. XYZ Co. incurred the following costs related to the office building used in operating its sports supply company: a. Replaced a broken window. b. Replaced the roof that had been on the building 23 years. c. Serviced all the air conditioners before summer started. d. Replaced the air conditioners with refrigerated air conditioners in the customer service areas. e. Added a warehouse to the back of the building. f. Repaint the interior walls. g. Installed window shutters on all windows. Classify each of the costs as a capital expenditure or a revenue expenditure. For those costs identified as capital expenditures, classify each as an additional or replacement component.

Answers

Answer:

2,4,5,7

Explanation:

Prompt What is liability?

Answers

Answer:

The state of being responsible for something, especially by law

Use the midpoint method when applicable to calculate the price elasticity of demand.

a. Contain Yourself!, a plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000.
b. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5.
c. Capital Metro decides to increase bus fare rates from $2.00 to $2.21. Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.

1. Elastic
2. Perfectly elastic
3. Perfectly inelastic
4. Unit elastic
5. Inelastic

Answers

Answer:

Follows are the solution to the given points:

Explanation:

In point a:

This business of plastic containers is increasing its Lunchbox Product Signature price around $3.00 and $4.00.   The volumes produced consequently declined around 20,000 to 15,000.

[tex]\text{Price elasticity} = \frac{\frac{15000-20000}{(\frac{15000+20000}{2})}}{\frac{4-3}{(4+\frac{3}{2})}}[/tex]

                        [tex]=\frac{\frac{-5000}{(\frac{35000}{2})}}{\frac{1}{(\frac{7}{2})}}\\\\=\frac{\frac{-5000}{17500}}{\frac{1}{3.6}}\\\\=\frac{\frac{-50}{175}}{\frac{1}{3.6}}\\\\= \frac{-0.2857}{0.2857} \\\\ =-1[/tex]

The price elasticity also becomes unitary

In point b:

U.S. economic theory states that the elasticity of fuel demand is 0.5 because prices would be less than 1 and so are non-elastic.

In point c:

The capital Metro agrees and add $2.00 to $2.21 also for bus fares. Consequently, with an average of 70,000 drivers a days to both a daily average 61,000 drivers, its passenger numbers who take the bus in Austin falls.

[tex]\text{Price elasticity} = \frac{\frac{61000-70000}{(61000+ \frac{70000}{2})}}{ \frac{2.21-2}{(2.21+\frac{2}{2})}}[/tex]

                        [tex]= \frac{\frac{-9000}{(61000+ 35000)}}{ \frac{0.21}{(2.21+1)}} \\\\= \frac{\frac{-9000}{(96000)}}{ \frac{0.21}{(3.21)}} \\\\= \frac{\frac{-9}{(96)}}{ \frac{0.21}{(3.21)}} \\\\= \frac{-0.1374}{0.099} \\\\ = -1.38[/tex]

The value being higher than 1 is elastic.

Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, theAllowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000.There were no sales returns or sales discounts during the year. After the adjusting entry, the December 31, balance in the Bad Debt Expense will be:________.
a. $1,200
b. $3,000
c. $3,600
d. $7,200

Answers

Answer:

b. $3,000

Explanation:

According to the above information, the following data are given

Credit sales = $100,000

Uncollectible percentage = 3%

So, after the adjustment by using allowance method, Bad debt expense can be calculated as;

Bad debt expense = Credit sales × Uncollectible percentage

= $100,000 × 3%

= $3,000

Firms must compete for top talent. In attracting and selecting employees, firms must strive to select the best fit for both the employee and the firm. In an attempt to reduce wasted time and effort in interviewing too many candidates while assuring a good candidate pool, a firm should run employment ads in the newspaper. only let lower-level employees interview job candidates. use a pre-interview quiz. refrain from hiring by referrals from present employees.

Answers

Answer:

use a pre-interview quiz

Explanation:

In order to save the time and effort of both the candidates and the organization the company should conduct the quiz before eligible for the interview so that the company could get to know the knowledge and skills of the candidates whether they are fit for the organization or not

Therefore the above represent the answer

Simon lost $9,050 gambling this year on a trip to Las Vegas. In addition, he paid $2,550 to his broker for managing his $255,000 portfolio and $1,285 to his accountant for preparing his tax return. In addition, Simon incurred $3,420 in transportation costs commuting back and forth from his home to his employer's office, which were not reimbursed. Calculate the amount of these expenses that Simon is able to deduct (assuming he itemizes his deductions).

Answers

Answer:

$0

Explanation:

Based on the information we were told that he lost the amount of $9,050 for the gambling he did this year which means that the DEDUCTIBLE amount will be $0 reason been that Gambling losses amount will only be DEDUCTIBLE in a situation where he won the gambling which therefore means that since he lost he CANNOT deduct the gambling loss amount of $9,050 including all the expenses amount.

Therefore the amount of these expenses that Simon is able to deduct will be $0.

Measuring Sustainable Earnings Harnishfeger Corporation was a mining machinery and equipment company based in Wisconsin. The company voluntarily changed its depreciation accounting policy from the accelerated method to the straight-line method It disclosed the cumulative effect of this accounting policy change, equal to $11.005 million (net of applicable income taxes), in its financial statements In addition, the company also voluntarily changed the estimated useful lives of certain of its U.S. plant and equipment. This estimate change increased its pretax reported profit by $3.2 million. The following are selected excerpts from the company's financial statements
(in thousands)
Income before income taxes, equity items,
and cumulative effect of accounting method change 5838
Provision for income taxes (2452)
Income after taxes 3386
Equity items 858
Cumulative effect of change in depreciation method 11005
Net income 15249
(a) Calculate Harnishfeger's sustainable earnings. Round tax rate to the nearest whole percentage for your calculation. (Example: 0.34567 = 35%) Round your answer to the nearest thousand dollar. thousand
(b) How would the capital market react to the company's decision to change its depreciation accounting policy and to change the estimated useful lives of its depreciable assets?

Answers

Answer:

Harnischfeger Corporation

Measuring Sustainable Earnings

a. Sustainable earnings = $1,530,000

b. Most analysts at the capital market would like to recalculate the net income to the actual income without the change in Harnischfeger depreciation accounting policy in order to understand the effect of the change.

Explanation:

a) Data and Calculations:

Excerpts from Harnischfeger financial statements

(in thousands)

Income before income taxes, equity items,

and cumulative effect of accounting method change    5,838

Provision for income taxes                                              (2,452)

Income after taxes                                                            3,386

Equity items                                                                         858

Cumulative effect of change in depreciation method  11,005

Net income                                                                      15,249

Sustainable Earning:

(in thousands)

Income before income taxes, equity items,

and cumulative effect of accounting method change    5,838

Change in estimate                                                         (3,200)

Adjusted income                                                              2,638

Income taxes   (42%)                                                        (1,108)

Income after taxes                                                             1,530

Income taxes rate = 2,452/5838 * 100 = 42%

b) Sustainable earnings differ from actual net earnings or income by removing the amount of irregular revenues, expenses, gains, and losses included in the financial year's net income. Sustainable earnings enable the users of financial statements to estimate a company's future earnings without the “noise” generated by irregular accounting items around the net income figure.

3. During a typical performance appraisal, the employee's supervisor evaluates the employee's work in terms of
• A. diverse management strategy.
O B. industry norms.
O C. his or her contribution to the organization.
O D. economic forecasts.

Answers

Answer:

O C. his or her contribution to the organization.

Explanation:

A performance appraisal reviews an employee's job performance and overall contribution to a company.  It is also called an annual review, performance review or evaluation, or employee appraisal.  Performance appraisal provides feedback on each employee's performance, serves as a basis for modifying or changing work behavior, and provide data to managers with which they may judge future job assignments and performance.

J.K. Builders was incorporated on July 1. a. Received $87, 000 cash invested by owners and issued common stock. b. Bought an unused field from a local farmer by paying $77, 000 cash. As a construction site for smaller projects, it is estimated to be worth $82, 000 to J.K. Builders. c. A lumber supplier delivered lumber supplies to J.K. Builders for future use. The lumber supplies would have normally sold for $27, 000. but the supplier gave J.K. Builders a 10 percent discount. J.K. Builders has not yet received the $24, 300 bill from the supplier d. Borrowed $42, 000 from the bank with a plan to use the funds to build a small workshop in August. The loan must be repaid in two years. e. One of the owners sold $27, 000 worth of his common stock to another shareholder for $28, 000. Prepare journal entries for the above transactions from the first month of business.

Answers

Answer:

a. Dr Cash $ 87,000

Cr Common stock $ 87,000

b. Dr Land $ 77,000

Cr Cash $ 77,000

c. Dr Supplies $ 24,300

Cr Accounts payable $ 24,300

d. Dr Cash $ 43,000

Cr Borrowings/Note payable $ 42,000

e. No Journal entry

Explanation:

Preparation of the journal entries for the above transactions from the first month of business.

a. Dr Cash $ 87,000

Cr Common stock $ 87,000

b. Dr Land $ 77,000

Cr Cash $ 77,000

c. Dr Supplies $ 24,300

Cr Accounts payable $ 24,300

d. Dr Cash $ 43,000

Cr Borrowings/Note payable $ 42,000

e. No Journal entry

The following statements contains some analysis of policies that address the death penalty. Categorize each statement as positive or normative.

a. Killing people is bad.
b. By executing convicted murderers, the government may deter potential murderers and, therefore, decrease the murder rate.
c. It is immoral for the government to kill people.
d. The government should not execute anyone, even murderers.

Answers

Answer:

Positive

normative

normative

normative

Explanation:

Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.  

For example, it is a fact that killing is bad. It causes pain to family and friends of the deceased.  

Normative economics is based value judgements, opinions and perspectives. For example, the statement - It is immoral for the government to kill people is subjective as what is considered moral is subjective

Described below are certain transactions of Sunland Company for 2021: 1. On May 10, the company purchased goods from Fox Company for $72,200, terms 2/10, n/30. Purchases and accounts payable are recorded at net amounts. The invoice was paid on May 18. 2. On June 1, the company purchased equipment for $91,200 from Rao Company, paying $26,400 in cash and giving a one-year, 9% note for the balance. 3. On September 30, the company discounted at 11% its $200,000, one-year zero-interest-bearing note at Virginia State Bank, receiving $180,000. Prepare the journal entries necessary to record the transactions above using appropriate dates. Company uses the periodic inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit May 10 May 18 June 1 September 30 Prepare the adjusting entries necessary at December 31, 2021 in order to properly report interest expense related to the above transactions. Assume straight-line amortization of discounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record interest expense) Dec. 31 (To record amortization of discount) Indicate the manner in which the above transactions should be reflected in the Current Liabilities section of Sunland Company's December 31, 2021 balance sheet. Current Liabilities $ Interest Payable $ Interest Receivable Premium on Note $ Discount on Note Note Payable-Rao Company Indicate the manner in which the above transactions should be reflected in the Current Liabilities section of Sunland Company's December 31, 2021 balance sheet. Current Liabilities Less OF ACCOUNTS Add LINK TO TEXT

Answers

Answer:

May 10 : Purchases (Dr.) $70,756 (72,200 * 98%)

Accounts Payable (Cr.) $70,756

May 18: Accounts Payable (Dr.) $70,756

Cash (Cr.) $70,756

June 1: Equipment (Dr.) $91,200

Cash (Cr.) $26,400

Notes payable (Cr.) $64,800

Sep 30: Cash (Dr.) $180,000

Discount on notes payable (Dr.) $20,000

Notes Payable (Cr.) $200,000

Explanation:

Sunland company has incurred the transaction for its business activities. The purchase of supplies is made on account with a 2% discount if the payment is made within 10 days. This discount is availed by the company and payment is made on may 18th. Equipment is purchased with hybrid transaction which means partial cash payment is made and rest is paid through signing notes payable.

Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018:
Penske Stanza
Revenues $ (795,000 ) (700,000)
Cost of goods sold 283,250 175,000
Depreciation expense184,000 302,000
Investment income Not given 0
Dividends declared 80,000 60,000
Retained earnings, 1/1/18(732,000 (268,000)
Current assets 510,000 668,000
Copyrights 1,072,000 558,500
Royalty agreements 722,000 1,116,000
Investment in Stanza Not given 0
Liabilities (562,000 ) (1,631,500)
Common stock (600,000 )($20 par) (200,000 )($10 par)
Additional paid-in capital (150,000) (80,000)
Note: Parentheses indicate a credit balance.
On January 1, 2018, Penske acquired all of Stanza’s outstanding stock for $818,000 fair value in cash and common stock. Penske also paid $10,000 in stock issuance costs. At the date of acquisition copyrights (with a six-year remaining life) have a $632,000 book value but a fair value of $746,000.
As of December 31, 2018, what is the consolidated copyrights balance?
For the year ending December 31, 2018, what is consolidated net income?
As of December 31, 2018, what is the consolidated retained earnings balance?
As of December 31, 2018, what is the consolidated balance to be reported for goodwill?
a. Consolidated copyrights
b. Consolidated net income
c. Consolidated retained earnings
d. Consolidated goodwill

Answers

Answer:

D or C

Explanation:

The firm was organized and the initial stockholders invested cash of $780. The company borrowed $1,170 from a relative of one of the initial stockholders; a short-term note was signed. Two zero-turn lawn mowers costing $624 each and a professional trimmer costing $169 were purchased for cash. The original list price of each mower was $793, but a discount was received because the seller was having a sale. Gasoline, oil, and several packages of trash bags were purchased for cash of $117. Advertising flyers announcing the formation of the business and a newspaper ad were purchased. The cost of these items, $221, will be paid in 30 days. During the first two weeks of operations, 47 lawns were mowed. The total revenue for this work was $917; $605 was collected in cash, and the balance will be received within 30 days. Employees were paid $546 for their work during the first two weeks. Additional gasoline, oil, and trash bags costing $143 were purchased for cash. In the last two weeks of the first month, revenues totaled $1,196, of which $488 was collected. Employee wages for the last two weeks totaled $663; these will be paid during the first week of the next month. It was determined that at the end of the month the cost of the gasoline, oil, and trash bags still on hand was $39. Customers paid a total of $195 due from mowing services provided during the first two weeks. The revenue for these services was recognized in transaction f.

Answers

Answer:

Follows are the solution to this question:

Explanation:

                             Cardinal Moving Services Inc. in its Books

   Payment                  Common Journal               Dr.               Cr.

      1                            Currency Cash.                     $780        

                                    Joint Vesicles                                                 $780

                   (To Common Stock Record Problem)

     2                       Currency Cash.                            $1,170

                                 Paying notes                                                        $1,170

                     (Quantity borrowed from the relative to the record)

    3                        Material                                         $1,417

                             Currency Cash.                                                     $1,417

(to record buying of 2 mover lawns $624 each and 1 trimmer career $169)

   4                             Supplies                                    $117

                                   Currency Cash.                                                 $117  

(The buying of fuel, oil, and waste bags to Record)

  5                            Costs of ads                                $221    

                              Cashable Account                                                 $221            

(Advertising flyer for business training on behalf of To Record)

  6                              Currency Cash.                       $605    

                             Receivable Account                        $312

                                Income Service                                                       $917

(For the very first two weeks of operation, to report service revenue)

    7                             Spending on wages                   $546

                                     Currency Cash.                                                $546

          (For first two weeks, to report wage expenditure)

    8                             Supplies                                        $143

                             Currency Cash.                                                           $143

(The acquisition of gasoline, oil, and garbage bags for documentation purpose)

   9                                  Currency Cash.                         $488

                                        Receivable Account                  $708

                                          Income Service                                         $1,196

   (For the last 2 weeks of the first month, to report service revenue)

 10                                        Wages Cost                        $663

                                            Payable salaries                               $663

                  (For two weeks to report accrual wage expenses)

  11                                    Budget for supplies                    $221

                                                  Supplies                                 $221

                              (To record the cost of supplies)

  12                                          Currency Cash.                 $195

                                              Receivable Account                  $195

                           (The customer's payment to Record)

working                                    Delivery Costs

                                   Purchases for supplies [$117 + $143]   $260 

                                      Less: Hand supplies                          ($39)

                                  Expense of production                           $221

EZ Wheels Corporation manufactures kick scooters. The company offers a one-year warranty on all scooters. During 2017, the company recorded net sales of $5,300 million. Historically, about 3% of all sales are returned under warranty and the cost of repairing and or replacing goods under warranty is about 20% of retail value. Assume that at the start of the year EZ Wheels' balance sheet included an accrued warranty liability of $16.3 million and at the end of the year, the accrued warranty liability balance was $12.4 million. What was EZ Wheels Corporation's warranty expense for 2017

Answers

Answer:

EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.

Explanation:

EZ Wheels Corporation's warranty expense for 2017 can be calculated using the following formula:

Warranty expense for 2017 = Net sale for 2017 * Percentage sales returned under warranty * Percentage of retail value for cost of repairing and or replacing goods under warranty ................. (1)

Where:

Net sale for 2017 = $5,300 million

Percentage sales returned under warranty = 3%

Percentage of retail value for cost of repairing and or replacing goods under warranty = 20%

Substituting the values into equation (1), we have:

Warranty expense for 2017 = $5,300 million * 3% * 20% = $31.80 million

Therefore, EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.

Answer:

$51.6 Million

Explanation:

Warranty expenses =5,300*3%*30% = 47.7 Million

Beginning Waranty Liability              $16.3 Million

Add: Warranty expenses                   $47.7 Million

                                                            $64 Million

Less: Ending Warranty liability           $12.4 Million

Amount paid on Warranty expenses $51.6 Million

Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided not to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the

Answers

Answer:

combined target market approach

Explanation:

When a company engages in a combined target market approach, it segregates potential markets into pairs or small groups which share similarities and then offers their products or services to them. The marketing mix will be similar for all the small segments that are within the larger group.

Company A shares are currently trading at $20 per share. A survey of Wall Street analysts reveals that EPS expectations for Company A for the full year 2014 are $1.50 per share. Company A has 200 million diluted shares outstanding. Company A’s major competitors are trading at an average share price / 2014 Expected EPS of 15.0x.
Using the comparable company analysis valuation method, Company A shares are:_______.
a. $2.50 per share overvalued
b. $2.50 per share undervalued
c. Need more information
d. Appropriately priced

Answers

Answer:

b. $2.50 per share undervalued

Explanation:

If the Company A major competitor has Share Price / EPS of 15X. Then, it means that the share price of company A should be = EPS * Competitor Share Price / EPS = $1.50 * 15 = $22.50

But, the share price of company A is $20.

So, we concluded Company A shares are Undervalued by $2,50 ($22.50 - $20).

Give account of the political argument against outsourcing practiced by US firms.

Answers

Answer:

The political argument against outsourcing practiced by U.S. firms can be summarized in three arguments:

Explanation:

The trade balance argument: this factor is both economic and political, and those who agree with it argue that outsourcing contributes to the decline of American exports while raising the amount of imports at the same time, since those goods and services produced abroad by outsourcing have to be imported to the U.S. if they are to be consumed by American consumeres.

The American worker argument: outsourcing creates a job loss in the U.S. that affects American workers, specially those without a tertiary education. Those who agree with this argument state that outsourcing increases economic inequality, urban decay, rates of mental disease and drug use, and so on.

The national security argument: this argument applies to specific industries like the weapon industry or pharmaceutical. Supporters of this argument say that there are several industries and economic sectors that should not be outsourced on the basis of national security.

This information relates to Novak Real Estate Agency.
Oct. 1 Stockholders invest $33,600 in exchange for common stock of the corporation.
2 Hires an administrative assistant at an annual salary of $36,480.
3 Buys office furniture for $3,780, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads, $12,290 (not paid by Roads at this time).
10 Receives cash of $145 as commission for acting as rental agent renting an apartment.
27 Pays $670 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $3,040 in salary for October.
Jounalize the transactions. ( no entry is required, select "No entry" for the account titles and enter 0 for the amounts amount is entered. Do not indent manually, Record journal entries in the order presented in the problem.

Answers

Answer:

She journal entry below

Explanation:

Oct 1. Cash. DR $33,600

To Common stock $33,600

(Being cash received in exchange of common stock that is recorded

Oct 2. No journal entry is required

Oct 3. Equipment Dr $3,780

To Accounts payable $3,780

(Being equipment that is recorded)

Oct 6. Accounts receivables $12,290

To Service revenue. $12,290

(Being service revenue that is recorded)

Oct 10. Cash Dr. $145

To service revenue $145

(Being cash that is recorded)

Oct 27. Accounts payable Dr $670

To cash. Cr $670

(Being accounts payable that is recorded)

Oct 30. Salaries and wages Dr $3,040

To Cash. $3,040

(Being salaries and wages that is recorded)

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