Creative Canopies (CC) is a manufacturer of flexible canopies for athletic facilities. CC has contracts with 3 universities to install and maintain the canopies on their baseball field bleachers. The fields are essentially identical, so CC management has assumed that all costs would be equal for each customer. However, after missing budget predictions this year, the CFO decided to use ABC costing principles to evaluate the profitability of their customers. The cost accounting team has put together the following estimates regarding specific cost activities related to maintenance of the canopies:
Support Activity Driver Cost per Driver Unit
Major refinishes: Hours on jobs $55
Minor touchups: Number of visits $400
Communication: Number of calls $25
The universities are all out-of-state but relatively equidistant from the manufacturing plant, so per-trip travel costs are not considered to be significantly different. However, each university has different expectations regarding maintenance of the canopy, and CC has collected the following data for each customer:
University Hours (major) Visits (minor Calls
USD 100 7 12
USC 90 5 15
UCLA 120 6 9
(Assume that each of the three customers produces gross profits of $10,000).
Which customer is the least profitable?
A. USD
B. UCLA
C. USC

Answers

Answer 1

Answer:

Creative Canopies (CC)

With gross profits of $10,000, the least profitable is:

B. UCLA

Explanation:

a) Maintenance Costs of Canopies:

Support Activity      Driver                    Cost per Driver Unit

Major refinishes:    Hours on jobs                 $55

Minor touchups:     Number of visits          $400

Communication:     Number of calls             $25

b) Customer Data:

University    Hours      major Visits    minor Calls=

USD             100               7                     12

USC              90               5                     15

UCLA           120              6                      9

c) Calculation of the Cost of Canopy Maintenance for each customer:

University  Hours  Major   Minor  Major          Minor     Commun-  Total

                              Visits   Calls    Refinishes  Touchups  ication  

USD           100         7         12       $5,500        $2,800      $300    $8,600  

USC            90         5         15       $4,950        $2,000      $375    $7,325

UCLA         120        6          9      $6,600        $2,400      $225    $9,225

d) Calculation of net income from each customer:

University   Gross Profit         Maintenance Cost        Net Income

USD               $10,000                 $8,600                          $1,600

USC               $10,000                 $7,325                         $2,675

UCLA            $10,000                 $9,225                            $775


Related Questions

Two partners, Small and Big, form a partnership in which Small invested $40,000 and Big invested $60,000 for a total capital of $100,000. But Small devotes more time to the business and earns more from the firm. They have agreed to share the profits as follows:

1. The first $20,000 is allocated on the partner's capital balances.
2. The next $30,000 is allocated based on service: Small gets $20,000, and Big gets $10,000.
3. Any remaining profits are allocated equally.
4. The partnership's net income is $100,000.

Requried:
a. What is Small's portion of the net income?
b. What is Big's portion of the net income? Make the entry for this allocation.
c. What would be the right parts to the journal entry for this question?

Answers

Answer:

a. What is Small's portion of the net income?

$53,000

b. What is Big's portion of the net income? Make the entry for this allocation.

Big's portion = $47,000

Dr Income Summary 47,000     Cr Big, capital 47,000

c. What would be the right parts to the journal entry for this question?

Debit Income summary and credit capital accounts

Explanation:

partnership's net income $100,000

first $20,000

Small $8,000Big $12,000

next $30,000

Small $20,000Big $10,000

Remaining $50,000

Small $25,000Big $25,000

total Small = $53,000

total Big = $47,000

On May 10, Monty Corp. issues 1,900 shares of $4 par value common stock for cash at $13 per share. Journalize the issuance of the stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Answers

Answer:

May 10, 2020, 1,900 shares issued at $13

Dr Cash 24,700

    Cr Common stock 7,600

    Cr Additional paid in capital 17,100

The common stock account increases using the pay value as reference. For example, if the common stock account = $200,000 and the par value of the stocks = $4, then we know that the company has 50,000 common stocks outstanding.

If investors pay any amount over the stocks' par value, that amount must be reported as additional paid in capital, in this case for common stock.

A bank has $10,000 in excess reserves and the required reserve ratio is 20 percent. This means the bank could have __________ in checkable deposit liabilities and __________ in total reserves.

Answers

Answer: $100,000; $30,000

Explanation:

The reserve rate is the amount of money that is made compulsory by the central bank of a country to the commercial banks to keep with them. It is a way of controlling the money in circulation.

A bank has $10,000 in excess reserves and the required reserve ratio is 20 percent. This means the bank could have $100,000 in checkable deposit liabilities and $30,000 in total reserves.

Since deposit is $100,000 and reserved rate is 20%, this will give an amount of: 20% × $100,000 = $20,000. Adding the $10,000 excess reserve will make $30,000 to which is the total reserve

n preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: Net income for the year was $52,000 Accounts payable decreased by 18,000 Accounts receivable increased by 25,000 Inventories increased by 5,000 Depreciation expense was 30,000 Net cash provided by operating activities was:

Answers

Answer:

$34,000

Explanation:

Calculation for the Net cash provided by operating activities

Net income 52,000

Adjustments :

Add Depreciation expense 30,000

Less Decrease in Accounts payable (18,000)

Less Increase in accounts receivables (25,000)

Less Increase in inventories (5,000)

Net cash provided by operating activities $34,000

Therefore Net cash provided by operating activities was: $34,000

A jeans maker is designing a new line of jeans called Slims. The jeans will sell for $355 per pair and cost $262.70 per pair in variable costs to make. (Round your answers to 2 decimal places.)

Required:
a. Compute the contribution margin per pair.
b. Compute the contribution margin ratio.

Answers

Answer:

a.$92.30

b.27.55%

Explanation:

a. Computation for the contribution margin per pair

Sales 355.00 per pair

Less:Variable cost $262.70 per pair

Contribution margin $92.30 per pair

Therefore the Contribution margin per pair will be $92.30

b. Computation for the contribution margin ratio.

Using this formula

Contribution margin ratio=Contribution margin per unit/Selling price per unit

Where,

Contribution margin per unit =$92.30

Selling price per unit =$335.00

Let plug in the formula

Contribution margin ratio=$92.30/$335.00

Contribution margin ratio =27.55%

Therefore the Contribution margin ratio will be 27.55%

Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Plant manager salary for the Iowa City, Iowa, plant b. Maintenance supplies c. Salary of process engineers d. Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant e. Scents and fragrances used in making soaps and detergents f. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant g. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant h. Packaging materials i. Resins for body wash products j. Depreciation on the Auburn, Maine, manufacturing plant

Answers

Answer:

a. factory overhead cost

b. factory overhead cost

c. factory overhead cost

d. direct labor cost

e. direct materials cost

f. direct labor cost

g. factory overhead cost

h. direct materials cost

i.  direct materials cost

j. factory overhead cost

Explanation:

Direct Material Costs and Direct Labor Costs are easily traceable to the cost object whilst its difficult to trace Factory Overhead Costs to the cost object.

The jewelry department has an initial markup of 55.6%, with total retail reductions of 15%. There are no alteration costs or cash discounts. What is the maintained markup percentage and the gross margin percentage

Answers

Answer:

Maintained markup percentage = 48.9%

Gross margin percentage = 48.9%

Explanation:

Given:

Initial markup = 55.6%

Total retail reductions = 15%

To find the maintained markup percentage use the formula below:

%MMU = Initial MU% - Retail reductions% (100% - Initial MU%)

Substitute figures:

%MMU = 55.6% - 15% (100% - 55.6%)

= 55.6% - 15% (44.4%)

= 55.6% - 6.66%

= 48.9%

Therefore, the maintained markup percentage = 48.9%

To find the gross margin percentage, use the formula below:

GM% = (Net sales - Total cost of goods) /Net sales

We can also use this formula below to find the maintained markup percentage:

MMU% = (Net sales - Gross cost of goods) /Net sales

But we are told that there are no alteration costs or cash discounts here. Therefore the gross cost is the same as the total cost of goods.

This means that the mantained markup percentage and the gross margin percentage are equal.

GM% = 48.9%

Samantha owns 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the end of the year is:

Answers

Answer:

$47,000

Explanation:

Stock basis at the time of sales = Stock basis at the beginning + Ordinary income for the part year - Distribution received

it is provided that opening Stock = $60,000  

Ordinary income for the part-year = $22,000

Distribution amount received = $35000

Her stock basis at the end of the year is = $60,000 + $22,000 - $35,000

= $82,000 - $35,000

= $47,000

Identify the advantages and disadvantages of each entry mode.
1. Tight control
2. Cost avoidance
3. Lower costs lost
4. Most costly method
5. Little future
6. Revenue
7. Lost economies
8. Access to local
9. Expertise
10. Profit from
11. Processes
12. Low capital
13. Requirement
14. Battles for control

a. Entry Mode
b. Exporting
c. Turnkey Project
d. Licensing
e. Joint Venture
f. Wholly-Owned
g. Subsidiary

Answers

Answer:

Exporting

Advantage

Cost avoidance

Disadvantage

Lower Costs Loss.

With Exporting, one can get into a country with lower costs because they will not have to set up. However they stand to have the disadvantage of losing lower costs.

Turnkey Project

Advantage

Profit from Processes

Disadvantage

Little Future Revenue

Turnkey projects involve building a facility for another company and then fully equipping it. When it is ready you hand it over. You stand to make profits from the process of building but because the facility is given to the purchaser, there is little chance for future revenue.

Licensing

Advantage

Low capital Requirement

Disadvantage

Lost  Economies

With Licensing, one does not have to spend a lot to get into a country as other companies just use your license. You however stand the risk of losing your control in the country.

Joint Venture

Advantage

Access to Local Expertise

Disadvantage

Battles for Control

With Joint Venture, an International firm will have access to the expertise of its partners who are locals and know how things are done. However, because the locals know how things are done and are in their country, there might be battles between the partners about who should dominate.

Wholly-Owned   Subsidiary

Advantage

Tight Control

Disadvantage

Most Costly Method

With a wholly-owned Subsidiary, an international company will have complete control over the affairs of the business and not have to battle for it with anyone. The drawback however is the cost it will take to set up. Large amounts will always  have to be spent on starting a fresh company in a different country.  

Sebastian purchases two pieces of equipment for $189,000. Appraisals of the equipment indicate that the fair market value of the first piece of equipment is $132,300 and that of the second piece of equipment is $207,900. What is Sebastian's basis in these two assets? If required, round your interim calculations to two decimal places. Use rounded amounts in subsequent computations. If required, round final answers to the nearest dollar. Sebastian's basis for the first piece of equipment is $ and $ for the second piece of equipment.

Answers

Answer:

Sebastian basis in first piece of assets is $73,500 and second piece of assets is $115,500

Explanation:

Calculation of the total fair market value

Total fair market value = Fair market value of first piece of equipment + Fair market value of second piece of equipment

Total fair market value = $132,300 + $207,900

Total fair market value = $340,200

Therefore, the total fair market value is $340,200.

Calculation of Sebastian “S” basis in assets:

“S” basis in assets in first piece of assets  = Fair market value of first piece of equipment  / Total fair market value * Purchase cost

= $132,300 / $340,200 *  $189,000

= $73,500

“S” basis in assets in second piece of assets  = Fair market value of second piece of equipment  / Total fair market value * Purchase cost

= $207,900 / $340,200 *  $189,000

= $115,500

“S” basis in first piece of assets is $73,500 and second piece of assets is $115,500.

Loster Company reported a net loss of $17,017 for the year ended December 31. During the year, accounts receivable decreased by $7,476, inventory increased by $5,997, accounts payable increased by $15,357, and depreciation expense of $5,495 was recorded. What was the net cash used for or provided by operating activities during the year

Answers

Answer:

The answer is $5,314

Explanation:

Net loss ($17,017)

Add back:

Depreciation expense. $5,495

($11,522)

Changes in working capital:

Decrease accounts receivable $7,476

Increase Inventory. ($5,997)

Increase accounts payable. $15,357

Net cash provided by operating activities. $5,314

Assume that the demand curve for MP3 players shifts to the right and the supply curve for MP3 players shift to the left, but the supply curve shifts more than the demand curve. As a result:________

a. both the equilibrium price and quantity of MP3 players will decrease.
b. the equilibrium price of MP3 players will decrease; the equilibrium quantity will increase.
c. the equilibrium price of MP3 players may increase or decrease; the equilibrium quantity will decrease.
d. the equilibrium price of MP3 players will increase; the equilibrium quantity will decrease.

Answers

Answer:

The correct answer is the option D: the equilibrium price of MP3 players will increase; the equilibrium quantity will decrease.

Explanation:

First of all, the supply and demand curves are the graphical representation of the price and the quantity demanded and supplied respectively in each case. Moreover, in the graphic when both curves are in equilibrim that means that there is a single point in where the price and the quantity are established together for the market. Furthermore, when there is a shift of any curve that point will be changed so when there is a shift in the demand curve to the right the price will increase and the quantity will increase but if there is a shift in the supply change to the left and that shift is greater then the price will increase but the quantity will decrease.

When longer-term employees' salaries are lower than those of workers entering the firm today, ______ has occurred.

Answers

Answer: Salary compression

Explanation:

Salary compression is a situation that occurs when there is a negligible differences in pay between the workers in an organization despite the experience and skills level.

It usually occurs when the pay of the current employees that are working with a company does not keep up with the rise in market pay rate thereby giving rise to a situation whereby new employees are employed at a identical pay or better pay to those that have been at the organization.

Teddy's Pillows had beginning net fixed assets of $471 and ending net fixed assets of $550. Assets valued at $319 were sold during the year. Depreciation was $42. What is the amount of net capital spending?

Answers

Answer:

Net Capital Spending = $121

Explanation:

The Net Capital Spending is the amount of money a company spends in the acquisition of fixed assets during the year. Mathematically, it is represented as:

Net Capital Spending = Ending net fixed asset - Beginning net fixed asset + depreciation

Net Capital Spending = 550 - 471 + 42 = $121

∴ Net Capital Spending = $121

What are the kinds of purchases for which you’ll "spare no expense"? What kinds of purchases do you want to buy spending as little as possible? What are the major differences between these two categories that drive your attitude regarding price?

Answers

Answer:

"Spare no Expense" Purchases

When purchasing long-term items (assets) which cannot be consumed within a short-term period, one tends to "spare no expense."  These purchases are dictated by their quality and not price.  For example, in constructing a building an individual or an entity does not consider the price as a deciding factor.  Instead, the entity goes for the best quality at whatever price.  In such a situation, it can be described as "sparing no expense" because it can spend as possible as is needed to ensure that the quality of the construction was of the highest standard.  A wealthy man does not spare any expense to receive medical treatment.  Vacationists spare no expense to go on vacation

These purchases or items come with high prices and they last longer than a year.

On the other hand, one does not want to spend much resources on goods that are not durable.  So, the person involved tend to spend as little as possible.  No one wants to buy expensive food items.  But, the same person can pay for an exorbitant car.  No one wants to expend much resources on inner wears, but the same person can spend thousand for the outer wears, to put up appearances.

Ostentatious goods that convey image attract higher prices much more than private goods that others co not care whether you use them or not.  This accords with our human natural way of believing in appearances.

The major factors that differentiate between these two categories that drive our attitude regarding price include:

a) Scarcity, b) Longevity, c) Quality, d) Price, e) Durability, f) Ostentation

Explanation:

The expression "spare no expense" means to spend as much financial resources as needed in order to make something happen or bring about an outcome.

Another bank is also offering favorable terms, so Rahul decides to take a loan of $12,000 from this bank. He signs the loan contract at 5% compounded daily for 12 months. Based on a 365-day year, what is the total amount that Rahul owes the bank at the end of the loan's term

Answers

Answer:

$12,615.21

Explanation:

we need to determine the future value of the loan:

future value = present value x (1 + interest rate)ⁿ

present value = $12,000n = 365 days (compounded daily)interest rate = 5% / 365 days = 0.05/365 = 0.000136986

future value = $12,000 x (1 + 0.000136986)³⁶⁵ = $12,000 x 1.051267496 = $12,615.21

When organizations, in an attempt to prevent _____ asks customers to not enter characters but instead select them one by one from boxes, intruders may counter with

Answers

Answer: a. keyloggers, screen scrapers

Explanation:

When organizations, in an attempt to prevent keyloggers asks customers to not enter characters but instead select them one by one from boxes, intruders may counter with screen scrapers

Keyloggers is a program that allows another person to record the keys struck on a keyboard without the person typing knowing. The person recording can them compile the information to find out very confidential information. By asking customers to select characters this can be mitigated.

Screen Scrapers on the other hand are more lethal because they record that is being displayed on a screen and transmit it to another person thereby enabling them to see what the target is doing even if they select characters from boxes.

Bonds owned by investors whose names and addresses are recorded by the issuing company, and for which interest payments are made with checks or cash transfers to the bondholders, are called:

Answers

Answer: Registered Bonds

Explanation:

A registered bond is one that has the owner's name and contact information recorded by the issuer so as to ensure that interest payments depending on the bond terms  are rightly given out and also  to track claims to coupons.The two ways bonds can be registered and transferred

1. Physically by printing owners details at the back of the certificate and BY signing or endorsing a certificate during transfer of bonds,

2. Electronically  bY recording on a system database for ownership claim and for transfer of bonds.

The opposite of a Registered bond is a Bearer bond, Here, the owner"s details and information are not recorded.

Corporation is expected to pay the following dividends over the next four years: $13, $9, $8, and $3.50. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price?

Answers

Answer:

Price of share $ 59.747

Explanation:

The Dividend Valuation Model(DVM) is a technique used to value the worth of an asset. According to this model, the value of an asset is the sum of the present values of the future cash flows would that arise from the asset discounted at the required rate of return.

This model would be applied as follows:

PV of dividend from Year 1 to Year 4

(13× 1.12^-1) + (9× 1.12^-2 ) +  ( 8 ×1.12^-3 )  + (3.50 ×1.12^-3 )= 26.38

PV  of dividend from year 5 and beyond

This will be done in two steps

PV in year 4 terms

PV = D× (1+g)/ke- g

D- 3.50, g- 5%, ke- 12%

PV = 3.50× 1.05/ (0.12- 0.05)

PV = 52.5

PV in year 0 terms

52.5 × 1.12^(-4)= 33.36469912

Total PV = 26.38  + 33.36 =  59.747

Price of share $ 59.747

At an output level of 6,000 units, you have calculated that the degree of operating leverage is 2.3. The operating cash flow is $12,000 in this case. a. Ignoring the effect of taxes, what are fixed costs

Answers

Answer: $15,600

Explanation:

The following information can be gotten from the question:

Output level = 6,000 units

Degree of operating leverage = 2.3

Operating cash flow = $12,000

Contribution margin = Degree of operating leverage × Operating cash flow

= 2.3 × $12,000

= $27,600

Fixed cost = contribution margin - Operating cash flow

= $27,600 - $12,000

= $15,600

Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts receivable = $20,000 What is the average collection period in days (rounded to the nearest whole day)?

Answers

Answer:

73 days

Explanation:

average collection period = number of days in a period / receivables turnover

receivables turnover = revenue / average receivables = $100,000 / $20,000 = 5

average collection period = 365 / 5 = 73 days

I hope my answer helps you

The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following:
A. Cash balance on June 1 is $736.
B. Actual sales for April and May are as follows:
April May
Cash sales $10,000 $18,000
Credit sales 28,900 35,000
Total sales $38,900 $53,000
C. Credit sales are collected over a three-month period: 40% in the month of sale, 30% in the second month, and 20% in the third month. The sales collected in the third month are subject to a 2% late fee, which is paid by those customers in addition to what they owe. The remaining sales are uncollectible.
D. Inventory purchases average 64% of a month's total sales. Of those purchases, 20% are paid for in the month of purchase. The remaining 80% are paid for in the following month.
E. Salaries and wages total $11,750 per month, including a $4,500 salary paid to the owner.
F. Rent is $4,100 per month.
G. Taxes to be paid in June are $6,780.
The owner also tells you that he expects cash sales of $18,600 and credit sales of $54,000 for June. No minimum cash balance is required. The owner of the company doesn't have access to short-term loans.
Prepare a cash budget for June. Include supporting schedules for cash collections and cash payments. Round calculations and final answers to the nearest dollar.

Answers

Answer and Explanation:

The Preparation of the cash budget for June is prepared below:-

                                      Cash Budget

                                For the month of June

Particulars                                                   Amount

Begining cash                                             $736

Add:

Collections:

Cash sales                                                  $18,600

Credit sales

Current month                                          $21,600   ($54,000 × 30%)

May credit                                                 $10,500    ($35,000 × 30%)

Credit sales of April                                   $5,896  (explained in note 1)

Total cash available                                   $57,332

Less: Disbursement

Purchase of inventory

Current month                                              $9,293 (explained in note 2)

($46,464 × 20%)

Prior month                                                   $27,136  (explained in note 2)

($33,920 × 80%)

Salary                                                             $11,750 (explained in note 3)

Rent                                                                $4,100

Taxes                                                              $6,780

Need's total                                                    -$1,727

Excess for cash available

over needs

Note:-

1. Amount which is received in June is

= $28,900 × 20%

= $5,780

Late fees = $5,780 × 2%

= $116

June receipts is

= $5,780 + $116

= $5,896

2. Purchase of inventory is

= $53,000 × 64%

= $33,920

Total sales = Cash + Credit sales

= $72,600

Puchase of inventory = $72,600 × 64%

= $46,464

3. Entirely amount is taken of salaries and wages if it paid or not.

The core CPI looks at the price changes of a market basket without Select one: a. luxury goods b. taxes c. food and energy d. imported goods

Answers

Answer:

The correct answer is the option C: food and energy.

Explanation:

On the one hand, the concept known as "Consumer Price Index" or CPI is refered to the measure that is basically used in economics in order to obtain the variation of prices in general that happens in a certain period of time, so that means that it focus in calculating the inflation of an economy by examinating the weighted average of prices of a basket of predetermined goods.

On the other hand, the "Core CPI" calculates the inflation in the costs of goods and services of a predetermined basket by does not include the ones from the food an energy sectors.

Which of the following statements is CORRECT?
a. The present value of a 3-year, $150 ordinary annuity will exceed the present value of a 3-year, $150 annuity due.
b. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different.
c. An investment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%.
d. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.
e. If a loan has a nominal annual rate of 8%, then the effective rate will never be less than 8%.

Answers

Answer:

e. If a loan has a nominal annual rate of 8%, then the effective rate will never be less than 8%.

Explanation:

As we know that

EAR = (1 + r ÷ n)^n -1

where,

EAR = Effective annual rate

r = interest rate

n = number of years

By applying the above formula we know that the effective annual rate should always be greater than the normal annual rate

Hence, the correct option is e.

Therefore all other options would be wrong

The Internal Rate of Return (IRR) represents which of the following: Multiple Choice The discount rate that must be lower than the required rate of return. The discount rate that makes the net present value equal to zero. The discount rate that makes the net present value positive. The discount rate that makes the net present value negative. The discount rate that is affected by the cash flows external to the project.

Answers

Answer:

The discount rate that makes the net present value equal to zero.

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

It is the discount rate that makes the net present value equal to zero.

I hope my answer helps you

Kano International Publishing, headquartered in Berlin, Germany, is a leading global publisher of scientific, technical, and medical journals and books for researchers in academia, scientific institutions, and corporate R&D departments. For print publications, assume that Kano owns a Didde press (now manufactured by Graphic Systems Services) that was acquired at an original cost of $330,000. It is being depreciated on a straight-line basis over a 20-year estimated useful life and has a $43,000 estimated residual value. At the end of the prior year, the press had been depreciated for a full five years. At the beginning of January of the current year, a decision was made, on the basis of improved maintenance procedures, that a total estimated useful life of 25 years and a residual value of $83,000 would be more realistic. The accounting period ends December 31.Required:a. Compute the amount of depreciation expense recorded in the prior year.b. Compute the book value of the printing press at the end of the prior year.c. Compute the amount of depreciation that should be recorded in the current year.d. Prepare the adjusting entry for depreciation at December 31 of the current year.

Answers

Answer:

a. Compute the amount of depreciation expense recorded in the prior year.

$71,750

b. Compute the book value of the printing press at the end of the prior year.

$258,250

c. Compute the amount of depreciation that should be recorded in the current year.

$8,762.50

d. Prepare the adjusting entry for depreciation at December 31 of the current year.

December 31, 202x, depreciation expenseDr Depreciation expense 8,762.50     Cr Accumulated depreciation - Didde press 8,762.50

Explanation:

depreciation expense per year of Didde press = ($330,000 - $43,000) / 20 years = $14,350 per year

accumulated depreciation = 5 years x $14,350 = $71,750

net book value = $258,250

adjusted useful life of 25 years, 20 remaining

new residual value of $83,000

depreciation expense per year = ($258,250 - $83,000) / 20 years = $8,762.50 per year

Companies increasingly strive to achieve the ______ performance when formulating their corporate strategy.

Answers

Answer:

triple bottom line

Explanation:

Companies increasingly strive to achieve the triple bottom line performance when formulating their corporate strategy. The triple bottom line (TBL) is a framework used in business that focuses on equally on social/environmental concerns as well as profits, thus creating three equal points of interest (bottom lines) which are profit, people, and the environment. This leads to a successful and balanced company.

Mobile visual search (MVS) apps generate graphic images that are superimposed on pictures of real things (e.g., people, rooms, buildings, roads, and so on). For instance, a mobile phone user might point her phone camera at an office building and activate an app that generates the logos of all foodservice outlets (e.g., Starbucks, Subway, McDonalds) inside the building. True or False

Answers

Answer: False

Explanation:

Mobile Visual Apps were made.more along the lines of linking different content from a single picture. For instance, a single picture of a logo could link the user to the social media pages, products and other content belonging to the owner of the logo.

The product described in the text above is ' Augmented Reality '.

21. Find the present values of these ordinary annuities. Discounting occurs once a year. a. $400 per year for 10 years at 10%. b. $200 per year for 5 years at 5% c. $400 per year for 5 years at 0% d. Rework parts a-c assuming they are annuities due.

Answers

Answer:

a.

PV = $2457.826842 rounded off to $2457.83

b.

PV = $865.8953341 rounded off to $865.90

c.

PV = $400

d.

PV = $2703.609527 rounded off to $2703.61

PV = $909.1901008 rounded off to $909.19

PV = $400

Explanation:

An annuity is a series of cash flows that are constant, that occur after equal interval of time and that are for a defined period of time.

An ordinary annuity is the one whose cash flows occur at the end of the period. While an annuity due is the one whose cash flows occur at the start of the period. The formula for the present value of both the ordinary and the due annuity are attached.

a.

PV = 400 * [(1 - (1+0.1)^-10) / 0.1]

PV = $2457.826842 rounded off to $2457.83

b.

PV = 200 * [(1 - (1+0.05)^-5) / 0.05]

PV = $865.8953341 rounded off to $865.90

c.

PV = 400 * [(1 - (1+0.0)^-5) / 0.0]

PV = $400

d.

PV = 400 * [(1 - (1+0.1)^-10) / 0.1] * (1+0.1)

PV = $2703.609527 rounded off to $2703.61

PV = 200 * [(1 - (1+0.05)^-5) / 0.05] * (1+0.05)

PV = $909.1901008 rounded off to $909.19

PV = 400 * [(1 - (1+0.1)^-10) / 0.1]

PV = $400

can someone tell me how this "attain" amount is calculated PS3 price is 299$ PS3 sold are 11.25 Million per unit total cost is 260.89 $ profit is 38.11 $ Attain = 428.74 do u know how this 'attain' amount is calculated

Answers

Answer:

IDK which I need also

Explanation:

....................................................

Answer:

I'm in middle school, sorry mate.

Explanation:

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