business is art and skill​

Answer:

Yes, I can confirm that business is indeed art and skill

Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent year, the following information was available with regard to the plan: service cost: $6.4 million, expected return on plan assets: $1.4 million, actual return on plan assets: $1.2 million, interest cost: $1.6 million, payments to retired employees: $2.2 million, and amortization of prior service cost (created when the pension plan was amended causing a drop in the projected benefit obligation): $1.3 million. What amount should Harvey Hotels report as pension expense in its income statement for the year

Wildhorse Company expects to have a cash balance of $124,200 on January 1, 2022. These are the relevant monthly budget data for the first two months of 2022.
1. Collections from customers: January $191,700, February $394,200.
2. Payments to suppliers: January $108,000, February $202,500.
3. Wages: January $81,000, February $108,000. Wages are paid in the month they are incurred.
4. Administrative expenses: January $56,700, February $64,800. These costs include depreciation of $2,700 per month. All other costs are paid as incurred.
5. Selling expenses: January $40,500, February $54,000. These costs are exclusive of depreciation. They are paid as incurred.
6. Sales of short-term investments in January are expected to realize $32,400 in cash. Wildhorse Company has a line of credit at a local bank that enables it to borrow up to $67,500. The company wants to maintain a minimum monthly cash balance of $54,000.

Buffalo Corporation is authorized to issue 45,000 shares of $5 par value common stock. During 2020, Buffalo took part in the following selected transactions.
1. Issued 4,500 shares of stock at $48 per share, less costs related to the issuance of the stock totaling $6,300.
2. Issued 1,100 shares of stock for land appraised at $45,000. The stock was actively traded on a national stock exchange at approximately $49 per share on the date of issuance.
3. Purchased 530 shares of treasury stock at $46 per share. The treasury shares purchased were issued in 2016 at $43 per share.
Instructions:(a) Prepare the journal entry to record item 1.(b) Prepare the journal entry to record item 2.(c) Prepare the journal entry to record item 3 using the cost method.

A company produces a product with variable costs of $2.50 per unit. The product sells for $5.00 per unit. The company has fixed costs of $3,000 and desires a target income of $10,000. The sales level in dollars to achieve the desired target income is $ .

Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream into a lake that has become thick with algae and polluted due to the minerals in the waste matter. The local office of a nonprofit environmental organization successfully lobbies state regulators to stop the farm's pollution.
Which of the following types of private solutions to the externality of pollution has occurred in this case?
a. Integration of different types of businesses
b. Contracts
c. Moral codes and social sanctions
d. Charities

A combination of high crude oil prices and government subsidies for ethanol have led to a sharp increase in the demand for corn in recent years. How will this increase in demand for corn influence (a) the price of corn; (b) the quantity of corn supplied; (c) the cost of producing soybeans and wheat, crops that are often produced on land suitable for production of corn; (d) the price of cereals, tortillas, and other products produced from corn; and (e) the price of beef, chicken, and pork, meats produced from animals that are generally fed large quantities of corn

Suppose Carlos and Deborah are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Carlos chooses Right and Deborah chooses Right, Carlos will receive a payoff of 7 and Deborah will receive a payoff of 4.

Carlos
Left Right
Deborah Left 6, 6 6, 3
Right 4, 3 5, 5

The only dominant strategy in this game is for _____ to choose _____.

The outcome reflecting the unique Nash equilibrium in this game is as follows:

Deborah chooses _____ and Carlos chooses _____.

Hardwig Inc. is considering whether to pursue a restricted or relaxed current asset investment policy. The firm's annual sales are expected to total $3,600,000, its fixed assets turnover ratio equals 4.0, and its debt and common equity are each 50% of total assets. EBIT is $150,000, the interest rate on the firm's debt is 10%, and the tax rate is 40%. If the company follows a restricted policy, its total assets turnover will be 2.5. Under a relaxed policy its total assets turnover will be 2.2.-Refer to the data for Hardwig Inc. If the firm adopts a restricted policy, how much lower would its interest expense be than under the relaxed policy?A) $8,418B) $8,861C) $9,327D) $9,818E) $10,309

andy Bank, Inc., makes one model of wooden canoe. and, the information for it follows: Number of canoes produced and sold 450 650 800 Total costs Variable costs $ 63,000 $ 91,000 $ 112,000 Fixed costs $ 187,200 $ 187,200 $ 187,200 Total costs $ 250,200 $ 278,200 $ 299,200 Cost per unit Variable cost per unit $ 140.00 $ 140.00 $ 140.00 Fixed cost per unit 416.00 288.00 234.00 Total cost per unit $ 556.00 $ 428.00 $ 374.00 Sandy Bank sells its canoes for $375 each. Required: 1. Suppose that Sandy Bank raises its selling price to $500 per canoe. Calculate its new break-even point in units and in sales dollars. 2. If Sandy Bank sells 700 canoes, compute its margin of safety in dollars and as a percentage of sales. (Use the new sales price of $500.) 3. Calculate the number of canoes that Sandy Bank must sell at $500 each to generate $110,000 profit.

How is paid wages and outstanding wages treated in accounting equation.​

Your employer, Pointer Media Group of Columbus, Ohio, has had an excellent year, and the CEO, Jeremy Pointer, would like to reward the troops for their hard work with a rustic yet plush winter retreat. The CEO wants his company to host a four-day combination conference/retreat/vacation for his 55 marketing and media professionals with their spouses or significant others at some spectacular winter resort.
One of the choices is Vail, Colorado, a famous ski resort town with steep slopes and dramatic mountain views. As you investigate the options in Vail, you are captivated by the Four Seasons Resort and Residences Vail, a five-star property with an outdoor pool, indoor and outdoor hot tubs, ski-in/ski-out access, a ski concierge, two acclaimed gourmet restaurants, and an amply equipped gym and fitness center. Other amenities include an on-site spa with massage and treatment rooms, a sauna, and facial and body treatments. Bathrooms feature separate bathtubs and showers, double sinks, and bathrobes. For business travelers, the hotel offers complimentary wired high-speed Internet access, complimentary wireless Internet access, and multiline phones as well as the use of two desktop computers.
The website of the Four Seasons Resort and Residences Vail is not very explicit on the subject of business and event facilities, so you decide to jot down a few key questions. You estimate that your company will require about 50 rooms. You will also need two conference rooms (to A/V equipment in the conference rooms, Internet access, and entertainment options for families. You have two periods that would possible: December 16-20 or January 13-17, You realize that both are peak times, but you wonder whether you can get a discounted accommodate 25 participants or more) for one and a half days. You want to know about room rates, conference facilities, You are interested in entertainment in Vail, and in tours to the nearby national parks. Eagle County Airport is 36 miles away rou and you would like to know whether the hotel operates a shuttle. Also, one evening the CEO will want to host a banquet for about 85 people. Mr. Pointer wants a report from you by September 13.
Your Task: Write a well-organized direct request letter or e-mail to Kiersten Dunn, Sales Manager, Four Seasons Resort and Resi dences Vail, One Vail Road, Vail, Co 81657.

Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information for its year ended December 31, 2020. Inventory Quantity Unit Cost Unit NRV Furniture 200 $85 $100 Electronics 50 $400 $300 Calculate the value of Home Furnishings ending inventory using their methodology described above.

36) All of the following are true of the number of days' sales uncollected ratio except: A) Can be used for comparisons between current and prior periods. B) Reflects the liquidity of receivables. C) Is most effective in evaluating the cash sales of a company. D) Measures how much time is likely to pass before the current amount of accounts receivable is received in cash. E) Can be used for comparisons to other companies in the same industry.

Consider this data for Marston Manufacturing Company and use it to complete the table:
Selected Financial Data for
Marston Manufacturing Company
Average cash $57,813
Average accounts payable $320,000
Average accounts receivable $1,387,500
Average inventories $693,750
Average cash sales $4,625,000
Average credit sales $13,875,000
Average cost of goods sold $8,325,000
Average number of days per year 365 days
Inventory conversion period 30.42 days
Payables deferral period days
Receivables conversion period
Operating cycle 66.92 days
Cash conversion cycle 52.89 days

A Korean steel company produces steel in the United States, with some of its steel being exported to other nations and some of it being sold within the United States. If the prices of this steel increase, then a. the GDP deflator and the CPI will both increase. b. the GDP deflator will increase and the CPI will be unchanged. c. the GDP deflator will be unchanged and the CPI will increase. d. the GDP deflator and the CPI will both be unchanged.

"Dan Druff Shampoo has 1,000,000 shares of common stock authorized with a par of $1 per share, of which 500,000 shares are outstanding. When the market value was $9 per share, Druff issued a stock dividend by which for each ten shares held, one share was issued as a stock dividend. The par per share did not change. What entry did Druff record for this transaction?"

Hyde Boats purchased machinery on January 1 at a list price of $295,000, with credit terms 3/10, n/30. Payment was made within the discount period. Hyde Boats paid $17,700 sales tax on the machinery, and paid installation charges of $3,900. Hyde Boats also paid $15,900 to pour a concrete base that was necessary to place the machinery in service.
What is the total cost of the new machinery?
A. $332.500
B. $323.650
C. $307.750
D. $319.750

The following are two independent situations. (a) On April 2, Maria Elston uses her JCPenney credit card to purchase merchandise from a JCPenney store for $1,600. On May 1, Elston is billed for the $1,600 amount due. Elston pays $500 on the balance due on May 3. Elston receives a bill dated June 1 for the amount due, including interest at 1% per month on the unpaid balance as of May 3. Prepare the entries on JCPenney Co.’s books related to the transactions that occurred on April 2, May 3, and June 1.

The net income reported on the income statement for the current year was $315,153. Depreciation recorded on fixed assets and amortization of patents for the year were $32,591 and $11,136, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $42,620 $55,973 Accounts Receivable 128,573 109,672 Inventories 112,117 87,792 Prepaid Expenses 4,229 6,883 Accounts Payable (merchandise creditors) 51,294 73,397 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method

On January 1, 2020, Castaway Corp. issued 5,000 shares of preferred stock ($15 par value) at $45 per share. Each share of preferred stock is redeemable at the option of the stockholder at $45 per share. On September 1, 2020, preferred shareholders holding 1,000 shares of preferred stock redeemed their stock.
The entry recorded by Castaway Corp. on September 1, 2020, would include the following:
A. No net change to stockholdersâ equity.
B. A decrease to retained earnings for $5,000.
C. A decrease to assets for $45,000.
D. No net change to preferred stock outstanding.

the path a product takes from product to final user is called what?

g An investment bank agrees to underwrite an issue of 5 million shares of stock for Longard Corp. (1). If the investment bank underwrites the stock on a firm commitment basis, it agrees to pay $15 per share to Longard Corp. for the 5 million shares of stock. It can then sell those shares to the public for $20 per share. How much money does Longard Corp. receive

Who is more likely to object to a proposed 1 percentage point increase in the city sales tax—the owner of a local liquor store or the owner of a local video rental store? Why?

The carrying value of bonds at maturity always equals: Group of answer choices the amount of cash originally received in exchange for the bonds plus any unamortized discount or less any premium. $0. the amount of cash originally received in exchange for the bonds. the amount of discount or premium. the par value of the bond.

Waupaca Company establishes a $420 petty cash fund on September 9. On September 30, the fund shows $166 in cash along with receipts for the following expenditures: transportation-in, $53; postage expenses, $70; and miscellaneous expenses, $123. The petty cashier could not account for a $8 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory.
Prepare:
1) the September 9 entry to establish the fund.
2) the September 30 entry to reimburse the fund.
3) an October 1 entry to increase the fund to $450.

Juanita Cash, the operations planner for the First State Savings and Loan, is planning the next quarter's level of deposits. She suspects that First State's level of deposits is directly related to the interest rate paid. The recent historical data are as follows.

Regression Statistics

Multiple R 0.995047482
R Square 0.990119491
Adjusted R Square 0.987649363
Standard Error 0.503701313
Observations 6


ANOVA
df SS MS
Regression 1 101.6984733 101.7
Residual 4 1.014860051 0.2537
Total 5 102.7133333


Coefficients Standard Error t Stat

Intercept -39.5559796 2.749298366 -14.39
Interest Rate % X 11.14503817 0.556669499 20.021


For each one percent increase in the interest rate, by how much do the deposits increase?

Refer to SM1 Q2. Thomas has a ticket to go to a movie this Saturday. He was willing to pay $20, but he only paid $15 for it. After he bought the movie ticket his friend offered to take him out to dinner Saturday evening. Thomas has to choose between going for the movie or a free dinner. He can resell the ticket for $10. What is the lowest value that Thomas should place on the free dinner to make him choose the free dinner rather than the movie.

Managers need to understand how information flows within the organization, how their organization interacts with other organizations, and how the various parts of the organization interact with one another.


True

False

On December 10, POGP Company receives an order for 200 sweater vests and assigns Job 83 to the order. Review the Materials Requisition table to journalize the entry to record the addition of the materials to Work in Process. If an amount box does not require an entry, leave it blank.
Dec. 10 Work in Process
Materials Feedback
Think about the flow of costs incurred to do a job and the accounts affected by sales to customers.
On December 15, review the Time Ticket tables to journalize the entry to record the addition of direct labor to Work in Process for the period December 1 through December 15. If an amount box does not require an entry, leave it blank.
Dec. 15 Work in Process
Wages Payable FeedbackCorrect
On December 15, review the Time Ticket tables to journalize the entry to record the addition of factory overhead to Work in Process for the period December 1 through December 15. If an amount box does not require an entry, leave it blank.
Dec. 15 Work in Process
Factory Overhead FeedbackPartially correct
On December 21, Job 62 is completed. Review the Job Cost Sheets and your journal entries. Journalize the entry to move the associated costs to the finished goods account. If an amount box does not require an entry, leave it blank.
Dec. 21 Finished Goods
Work in Process FeedbackPartially correct
On December 22, 75 of the 100 sweaters from Job 62 are sold on account for $125 each. Journalize the following transactions:
a. The entry to record the sale.
b. The entry to record the transfer of costs from Finished Goods to Cost of Goods Sold.
If an amount box does not require an entry, leave it blank.
Dec. 22 Accounts Receivable
Sales
Dec. 22 Cost of Goods Sold
Finished Goods FeedbackPartially correct
On December 31, the last work day of the year for the knitters, review the Time Ticket tables to journalize the entry to record the addition of direct labor to Work in Process for the period December 16 through December 31. If an amount box does not require an entry, leave it blank.

The following data are given for Stringer Company: Budgeted production 967 units Actual production 1,071 units Materials: Standard price per ounce $1.77 Standard ounces per completed unit 12 Actual ounces purchased and used in production 13,238 Actual price paid for materials $27,138 Labor: Standard hourly labor rate $14.29 per hour Standard hours allowed per completed unit 4.7 Actual labor hours worked 5,515.65 Actual total labor costs $84,114 Overhead: Actual and budgeted fixed overhead $1,091,000 Standard variable overhead rate $27.00 per standard labor hour Actual variable overhead costs $154,438 Overhead is applied on standard labor hours. Do not round interim calculations. Round your final answer to the nearest dollar. The direct materials price variance is