Answer:
Return on equity = 17.46%
Explanation:
DATA:
Issued share capital = $500m
Additional Paid-in capital = $200 million
Retained Earnings = $5.6 billion
Net Income = $1.1 billion
Return on Equity = ?
Solution
Return on equity can be calculated by dividing net income in total shareholder's equity
NOTE: ALL THE WORKINGS ARE IN 1000's
Return on equity = Net Income / Shareholder's Equity
Return on equity = 1,100,000 / (500,000 + 200,000 +5,600,000)
Return on equity = $1,100,000/6,300,000
Return on equity = 17.46%
Virginia owns 100% of Goshawk Company. In the current year, Goshawk Company sells a capital asset (held for three years) at a loss of $40,000. In addition, Goshawk has a short-term capital gain of $18,000 and net operating income of $90,000 during the year. Virginia has no recognized capital gain (or loss) before considering her ownership in Goshawk.
Complete each lettered item below, outlining how much of the capital loss may be deducted for the year and how much is carried back or forward.
a. If Goshawk is a proprietorship, only $ _________ long-term capital loss can be deducted in the current year. The remaining $ ___________net capital loss is carried ___________ and then ____________Correct 3 of Item 1.
b. If Goshawk is a C corporation, only $ __________long-term capital loss can be deducted in the current year. The remaining $ ___________ net capital loss is carried ______________ and then _____________ of Item 2.
Answer:
a) If Goshawk is a proprietorship, only $21000 long-term capital loss can be deducted in the current year. The remaining $19000 net capital loss is carried forward and then carried back
b) If Goshawk is a C corporation, only $ 18000 long-term capital loss can be deducted in the current year. The remaining $22000 net capital loss is carried back and then forward of Item 2.
Explanation:
The gain or loss on the sale of a property is said to be the difference between between the realized value of goods and its adjusted basis. When there is a gain the realized value would be greater than the adjusted basis, while when there's loss the realized value would be less than the adjusted basis.
A) In this case, if Goshawk is a proprietorship, only $21,000 of the $40,000 long-term capital loss can be deducted in the current year. The loss will offset the short-term capital gain of $18,000 first; then, an additional $3,000 of the loss may be utilized as a deduction against ordinary income. The remaining $19,000 net capital loss is carried forward to next year and years thereafter until completely deducted. The capital loss carryover retains its character as long term.
B) If Goshawk is a C corporation, $18,000 short term capital gain can be set off for long term capital loss. Then the remaining $22,000($40,000 - $18,000) will be carried backwards
Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year: Utilities for the store $ 9 comma 600 Sales commissions 10 comma 100 Sales revenue 164 comma 800 Purchases of merchandise 89 comma 900 January 1 inventory 27 comma 000 Rent for store 13 comma 800 December 31 inventory 23 comma 500 What is operating income?
Answer:
$41,400
Explanation:
Calculation for Paper Clip Company Operating income
OPERATING NET INCOME for Paper Clip Company
Sales revenue 164,800
Less: Purchases of merchandise (89,900)
Utilities for the store (9,600)
Sales commission (10,100)
Rent for store (13,800)
Operating net income $41,400
Therefore the Operating net income will be $41,400
Travelwell manufactures and sells luggage and briefcases. Their marketing research indicates that durability is the attribute that consumers most desire in their luggage and briefcases. Travelwell now emphasizes durability in all of their promotional efforts. This strategy is intended to build brand equity.
a) true
b) false
Answer:
a) true
Explanation:
When we are talking about building brand equity, we are talking about increasing our customers' perception and value of our brand or company's name. Building brand equity emphasizes the brand itself over any specific product or service that our company offers. E.g. Rolls Royce is the most luxurious car manufacturer in the world, and they built brand equity upon luxury in all its vehicles, not one specific car.
In this case, Travelwell is emphasizing a characteristic that should apply to all its product line, not just one specific type of luggage.
The open-ended question post-project evaluation meeting should contain an opportunity to talk about possible additional projects and assume permission to use the customer as a reference with potential customers.
a. True
b. False
Answer:
B. False.
Explanation:
In the rightful manner, this meeting type is said to typically happen in different formats though most of it happens to appear in different video calls, conference or zoom which is popular in recent times. This meeting should contain or entertain the ability for opportunity talks which could yield possibilities in adding works that can benefit the parties involved. But in the case above, assuming the permission to use the customer as a reference with potential customers is totally out of the line so it is said to not totally fall in as post project evaluation.
Fogerty Company makes two products, titanium Hubs and Sprockets. Data regarding the two products follow: Direct Labor-Hours per Unit Annual Production Hubs 0.60 15,000 units Sprockets 0.20 50,000 units Additional information about the company follows:
a. Hubs require $39 in direct materials per unit, and Sprockets require $18.
b. The direct labor wage rate is $12 per hour.
c. Hubs are more complex to manufacture than Sprockets and they require special equipment.
d. The ABC system has the following activity cost pools:
Estimated Activity Activity Cost Pool (Activity Measure) Overhead Cost Hubs Sprockets Total Machine setups (number of setups) $ 28,980 140 112 252 Special processing (machine-hours) $ 92,000 4,600 0 4,600 General factory (organization-sustaining) $ 89,000 NA NA NA
Required:
1. Compute the activity rate for each activity cost pool.
2. Determine the unit product cost of each product according to the ABC system. (Round intermediate calculations and final answers to 2 decimal places.)
Answer:
Fogerty Company
1. Computation of the activity rate for each activity cost pool:
a. Machine setups = Total machine setups overhead costs/total machine setups
= $28,980/252 = $115 per machine set up
b. Special processing = Total special processing overhead costs/total machine hours
= $92,000/4,600 = $20 per machine hour
c. General factory = $89,000/65,000 = $1.369 per unit produced
2. Determination of the unit product cost of each product using ABC system:
Hubs Sprockets
Total production costs $825,640 $1,101,340
Units produced 15,000 50,000
Unit product cost = $55.04 $22.03
Explanation:
a) Data and Calculations:
Activity Cost Pool Overhead Hubs Sprockets Total
(Activity Measure) Costs
Machine setups
(number of setups) $ 28,980 140 112 252
Special processing
(machine-hours) $ 92,000 4,600 0 4,600
General factory
(organization-sustaining) $ 89,000 NA NA NA
Direct labor-hours per unit 0.60 0.20
Total units produced 15,000 50,000 65,000
Direct materials required per unit $39 $18
Direct labor wage rate per hour $12 $12
b) Total direct labor-hours 9,000 10,000 19,000
c) Activity rate for each activity cost pool:
1. Machine setups = Total machine setups overhead costs/total machine setups
= $28,980/252 = $115 per machine set up
2. Special processing = Total special processing overhead costs/total machine hours
= $92,000/4,600 = $20 per machine hour
3. General factory = Total general factory overhead costs divided by total units produced
= $89,000/65,000 = $1.3692 per unit produced
d) Overhead Allocation:
Hubs Sprockets Total
Machine setups $16,100 $12,880 $28,980
Special processing 96,000 0 96,000
General factory 20,540 68,460 89,000
Total overhead costs $132,640 $81,340 $213,980
e) Total costs per product
Hubs Sprockets Total
Direct materials costs $585,000 $900,000 $1,485,000
Direct labor costs $108,000 $120,000 $228,000
Total overhead costs $132,640 $81,340 $213,980
Total production costs $825,640 $1,101,340 $1,926,980
Units produced 15,000 50,000
Unit product cost = $55.04 $22.03
f) Activity based costing system (ABC) is a costing technique that accumulates according to activity pools and allocates costs based on the activities carried out. For example, the general factory overhead costs, could be allocated based on direct labour hours, machine hours, or total units of production. It calculates the allocation rate based on the accepted activity pool.
The Cash account of Gate City Security Systems reported a balance of $2,530 at December 31, 2018. There were outstanding checks totaling $ 500 and a December 31 deposit in transit of $ 400. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $3,120. Included in the bank balance was a collection of $ 500 on account from Jane Lindsey, a Gate City customer who pays the bank directly. The bank statement also shows a $20 service charge and $ 10 of interest revenue that Gate City earned on its bank balance.
Requried:
Prepare Gate City's bank reconciliation at December 31.
Answer:
Gate City Security Systems
Bank Reconciliation at December 31, 2018
Book:
Balance , December 31, 2018 $2,530
Add:
Collection from Jane Lindsey $500
Interest revenue $10
Less:
Service charges $20
Adjusted book balance December 31, 2018 $3,020
Bank:
Balance , December 31,2018 $3,120
Add:
Deposit in transit $400
Less:
Outstanding cheque $500
Adjusted bank balance December 31, 2018 $3,020
A corporation produces a single product and has the following cost structure
Number of units produced each year 7000
Variable costs per unit
Direct materials 51
Direct labor 12
Variable manufacturing overhead 2
Variable selling and administrative expense 5
Fixed costs per year
Fixed manufacturing overhead.. 441000
Fixed selling expense 112000
The absorption costing unit product cost is:______.
A) $149 per unit
B) $65 per unit
C) $63 per unit
D) $128 per unit
Answer:
D) $128 per unit
Explanation:
The computation of the unit product cost using the absorption costing is shown below:
= Direct materials per unit + direct labor per unit + Variable manufacturing overhead per unit + fixed manufacturing overhead per unit
= $51 + $12 + $2 + ($441,000 ÷ 7,000 units)
= $128
We simply added the direct material, direct labor, variable manufacturing overhead per unit, and the fixed manufacturing overhead per unit
Since the middle of the 20th century, the international global business system has been shaped by global institutions. Countries have established these institutions to address the global issues that span their borders. The functions of these organizations have been established in international treaties. International businesses need to be aware of the functions of these organizations as they can have a profound impact on trade and commerce.
It is critical for businesses to understand the responsibilities of each organization as well as the rationale for its creation.
Match the description with the correct organization.
1. UN
2. GTO
3. WTO
4. Bretton Woods Institutions
5. GATT
A. The IMF and World Bank were created in 1944 by 44 nations that met to maintain order in the international monetary system and promote economic growth.
B. As much as 70 percent of its work is devoted to establishing higher standards of living, full employment, and conditions of economic and social progress and development.
C. A series of treaties that reduced barriers to trade.
D. Primarily responsible for policing world trade system.
E. Finance ministers and central bank governors of major economies coordinate policy on global financial crises.
Answer:
1. UN - As much as 70 percent of its work is devoted to establishing higher standards of living, full employment, and conditions of economic and social progress and development.
The United Nations was founded in 1945 as a medium to coordinate human efforts on a global scale. They pursue through their subsidiary organizations, the welfare of humanity amongst other things.
2. GTO - Finance ministers and central bank governors of major economies coordinate policy on global financial crises.
Formed by 20 leading economies, the GTO was formed to combat the effects of the 2008 financial crises.
3. WTO - Primarily responsible for policing world trade system.
WTO regulates trade in the world to make it easier to transact.
4. Bretton Woods Institutions - The IMF and World Bank were created in 1944 by 44 nations that met to maintain order in the international monetary system and promote economic growth.
5. GATT - A series of treaties that reduced barriers to trade.
The General Agreement on Tariff and Trade (GATT) is a treaty between over 140 nations in which they agree to make trade easier by reducing barriers and adhering to Internation best practices.
Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 35,900 machine-hours. The estimated variable manufacturing overhead was $4.80 per machine-hour and the estimated total fixed manufacturing overhead was $945,606. The predetermined overhead rate for the recently completed year was closest to:
Answer:
Predetermined manufacturing overhead rate= $31.14 per machine-hour
Explanation:
Giving the following information:
Estimated machine-hour= 35,900 machine-hours
Estimated variable overhead= $4.80 per machine-hour
Total fixed manufacturing overhead was $945,606.
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (945,606/35,900) + 4.8
Predetermined manufacturing overhead rate= $31.14 per machine-hour
Garrison Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The following data represents data in the Shaping Department WIP, April 1 7 comma 000 units Transferredminusin costs in WIP, April 1 $79,940 Direct materials (100%) in WIP, April 1 $24,420 Conversion costs (55%) in WIP, April 1 $23,400 Units transferredminusin 49 comma 000 Transferredminusin costs during April $550,900 Units completed 46 comma 000 April direct materials cost $155,500 April conversion costs $239,250 WIP, April 30 10 comma 000 units (100% for materials and 40% for conversion costs) What are the equivalent units for conversion costs?
Answer:
Equivalent Units for conversion = 50,000 units
Cost per equivalent unit for conversion = $5.253
Explanation:
WIP, April 1 = 7,000 units
Transferred-costs in WIP, April 1 = $79,940
Direct materials (100%) in WIP, April 1 = $24,420
Conversion costs (55%) in WIP, April 1 = $23,400
Units transferred = 49,000
Transferred costs during April = $550,900
Units completed = 46,000
April direct materials cost =$155,500
April conversion costs =$239,250
WIP, April 30 =10,000 units
100% for materials and 40% for conversion costs
Required = Equivalent Units for conversion cost?
Solution
Equivalent Units for conversion = 100% of units completed + 40% of units in work in process
Equivalent Units for conversion = (46000 x 100%) + ( 10,000 x 40%)
Equivalent Units for conversion = 46,000 + 4000
Equivalent Units for conversion = 50,000 units
Cost per equivalent unit for conversion = Total conversion cost/Equivalent unts for conversion
Cost per equivalent unit for conversion = (23,400+239,250) /50,000units
Cost per equivalent unit for conversion = $5.253
The December 31, 2014 balance sheet of Barone Company had Accounts Receivable of $400,000 and a credit balance in Allowance for Doubtful Accounts of $32,000. During 2015, the following transactions occurred: sales on account $1,500,000; sales returns and allowances, $50,000; collections from customers, $1,250,000; accounts written off $36,000; previously written off accounts of $6,000 were collected.A. Journalize the 2015 transactions.B. If the company uses the percentage-of-sales basis to estimate bad debt expense and anticipates 3% of net sales to be uncollectible, what is the adjusting entry at December 31, 2015?C. If the company uses the percentage of receivables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be 8% of accounts receivable, what is the adjusting entry at December 31, 2015?D. Which basis would produce a higher net income for 2015 and by how much?
Answer:
Barone Company
General Journal for 2015 transactions:
Debit Accounts Receivable $1,500,000
Credit Sales Revenue $1,500,000
To record sales on account.
Debit Sales Returns $50,000
Credit Accounts Receivable $50,000
To record sales returns and allowances.
Debit Cash Account $1,250,000
Credit Accounts Receivable $1,250,000
To record cash collections from customers.
Debit Allowance for Doubtful Accounts $36,000
Credit Accounts Receivable $36,000
To record uncollectible written-off.
Debit Accounts Receivable $6,000
Credit Allowance for Doubtful Accounts $6,000
To reinstate previously written off accounts.
Debit Cash Account $6,000
Credit Accounts Receivable $6,000
To record collection of previous write-off.
Adjusting Entry at December 31, 2015:
B. Using 3% of net sales:
Debit Bad Debt Expense $41,500
Credit Allowance for Doubtful Accounts $41,500
To record bad debt expense.
C. Using 8% of Receivables:
Debit Bad Debt Expense $43,120
Credit Allowance for Doubtful Accounts $43,1`20
To record bad debt expense.
D. 3% of net sales produces a higher net income and by $1,620
Explanation:
1. Accounts Receivable
Beginning balance (debit) = $400,000
Sales 1,500,000
Sales Returns & allowances (50,000)
Cash Collections (1,250,000)
Uncollectible write-off (36,000)
Reinstatement of write-off 6,000
Cash Collection (6,000)
Ending balance $564,000
2. Allowance for Doubtful Accounts
Beginning balance (Credit) $32,000
Uncollectible write-off (36,000)
Reinstatement of write-off 6,000
Balance pre-year adjustment $2,000
Using 3% of net sales
Bad debt expense $41,500
Ending balance (credit) $43,500
Balance pre-year adjustment $2,000
Using 8% of receivable balance
Bad debt expense $43,120
Ending balance (credit) $45,120
3. Allowance for Doubtful Accounts (Ending balance)
3% of net sales = $1,450,000 x 3% = $43,500
8% of receivables = $564,000 x8% = $45,120
If the December 31, 2014 balance sheet of Barone Company had Accounts Receivable of $400,000 and a credit balance in Allowance for Doubtful Accounts of $32,000. The journal entries will be:
A. Journalize the 2015 transactions.
Debit Accounts Receivable $1,500,000
Credit Sales Revenue $1,500,000
(To record credit sales)
Debit Sales Returns and Allowances $50,000
Credit Accounts Receivable $50,000
(To record credit to customers)
Debit Cash $1,250,000
Credit Accounts Receivable $1,250,000
(To records collection of receivables)
Debit Allowance for Doubtful Accounts $36,000
Credit Accounts Receivable $36,000
(To record write of specific account)
Debit Accounts Receivable $6,000
Credit Allowance for Doubtful Accounts $6,000
(To record written off accounts)
Debit Cash Account $6,000
Credit Accounts Receivable $6,000
(To record collection of previous write-off)
B. Preparation of the journal entry using the percentage-of-sales basis
Percentage-of-sales basis:
Sales revenue $1,500,000
Less: Sales Returns and Allowances $50,000
Net Sales $1,450,000
($1,500,000-$50,000)
Bad debt percentage 3%
Bad debt provision $43,500
(3%×$1,450,000)
Journal entry
Dec. 31
Debit Bad Debt Expense $43,500
Credit Allowance for Doubtful Account $43,500
C. Preparation of the journal entry using the percentage of receivables basis
Percentage of receivables basis
Account receivable
Dr Cr
$400,000 $50,000
$1,500,000 $1,250,000
$6,000 $36,000
$6.000
Bal. $564,000
Allowance for Doubtful Accounts
Dr Cr
$36,000 $32,000
$6,000
Bal. $2,000
Required balance $45,120
($564,000 × .08)
Less Balance before adjustment $2,000
Adjustment required $43,120
($45,120-$2,000)
Journal entry
Dec. 31
Debit Bad Debt Expense $43,120
Credit Allowance for Doubtful Account $43,120
D. Calculation to determine the basis that would produce a higher net income for 2015 and by how much?
Percentage-of-sales basis $43,500
(3%×$1,450,000)
Percentage of receivables basis $43,120
[($564,000 × .08) -$2,000]
Difference $380
Percentage-of-sales basis will produce a higher net income for 2015 by $380
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2. Think about the pros and cons associated with the concept of market pricing. What have your personal experiences been in relation to fairness and equity of your own compensation where you have worked
Explanation:
The market pricing system is an approach that differs from the formal salary structure because it is not an organizational process where the levels of remuneration are assigned according to a certain function.
In this wage definition strategy, the remuneration is calculated according to a present value, determined by the market itself and defined by conducting surveys whose objective is to analyze the service pricing strategies practiced by competitors.
This strategy can guarantee several significant advantages for an organization, such as increasing competitiveness by establishing a remuneration structure based on market value.
However, if this strategy is not duly reviewed periodically, what can happen is that there are flaws in the calculation of the current value, which generates an outdated salary system for employees and the company.
What is the nominal interest rate (k) of a 5-year U.S. Treasury bond with a real risk-free rate of interest of 1% and inflation expected to be at 3.5% per year
Answer:
The nominal interest rate is 4.50%
Explanation:
Nominal interest=real interest rate+inflation rate
The real interest rate is the return earned by an investor without considering the inflation rate in the economy which is 1%
inflation rate is the movement in prices of goods and services in the economy i.e 3.5%
nominal interest rate=1%+3.5%
nominal interest rate=4.5%
____________ has been at the center of the changes taking place that affect the supply chain. Group of answer choices logistics warehousing technology customer power
Answer:
technology
Explanation:
Technology has changed the mode of supply of products to customers.
It has increased the efficiency of supply chain and has also increased the speed of supply
For example, due to technology one can now track ones orders. This is an example of how technology has increased the efficiency of supply chain.. It has made it easier for customers to monitor their orders and has also reduced loss of goods.
I hope my answer helps you
If sales are $400,000, variable costs are 75% of sales, and operating income is $40,000, what is the operating leverage
Answer:
operating leverage= 0.17
Explanation:
Giving the following information:
Sales= $400,000
Variable costs= 75% of sales
Operating income= $40,000
To calculate the operating leverage, we need to use the following formula:
operating leverage= fixed costs/total costs
Fixed costs= (400,000*0.25) - 40,000= 60,000
Total costs= 400,000*0.75 + 60,000= 360,000
operating leverage= 60,000/360,000
operating leverage= 0.17
A multinational automobile manufacturer issues a public statement that the company's vehicle emissions tests had been falsified to meet environmental compliance standards over recent years using software specifically designed for that purpose. Following the news, the CEO is replaced, vehicle sales plummet, and the company's stock price sharply declines. Which of the following has the company incurred?
a) visible but not intangible costs
b) only visible and internal administrative costs a
c) internal administrative costs but not visible costs
d) internal administrative costs but not intangible costs
e) visible and intangible costs
Answer:
a) visible but not intangible costs
Explanation:
Based on the information provided within the question regarding the scenario it can be said that the company incurred visible and intangible costs. They have incurred intangible costs because their reputation and credibility was badly damaged due to the public statement, while they also suffered visible costs due to the sharp drop in customers and share prices.
On January 1, 2019, Brooks, Inc., borrows $90,000 from a bank to purchase machinery. Brooks signs a 5 percent installment note requiring four annual payments of principal plus interest.
Required:
Complete the necessary journal entry
Answer:
A Journal entry for Brooks Incorporation on January 1, 2019 which is shown below
Explanation:
Solution
Given that:
JOURNAL ENTRY FOR BROOKS INCORPORATION
Date General Journal Debit Credit
Jan 01 2019 Cash 90000
Notes Payable 90000
Thus
A Journal entry was recorded for Brooks Incorporation.
Here, the cash of $90,000 was recorded at the debit side of the Journal.
While the notes payable of $90,000 was also recorded on the credit side
Martin transfers real estate with an adjusted basis of $260,000 and fair market value of $350,000 to a newly formed corporation in exchange for 100% of the stock. The corporation assumes the liability on the transferred real estate in the amount of $300,000. Determine Martin’s recognized gain on the transfer and the basis for his stock.
Answer:
$40,000
Explanation:
We can calculate recognized gain on the transfer and basis for his stock just by deducting adjusted basis value from liability on the transfered real estate.
Calcuation
iability on the transfered real estate $300,000
less: adjusted basis value ($260,000)
Gain recognized $40,000
Answer:
Therefore, the gain on the transfer is $40,000
Explanation:
Calculation of Martins gain
Particulars Amount
Liability on the transferred real estate $300,000
Less: adjusted real basis value $260,000
Recognized gain $40,000
Therefore, the gain on the transfer is $40,000
Which of the following QuickBooks features can be used to save a transaction that will be re-used in the future?
A. Saved transactions
B. Memorized transactions
C. Repeat transactions
D. None of the above
Answer:
B. Memorized transactions
Explanation:
When using QuickBooks, the feature that allows you to save a transaction that will be re-used in the future are known as Memorized Transactions. These are transaction templates that allow the individual to speed up data entry jobs by saving the information that will be repeated. In general, this saves time, reduces mistakes, keeps better tabs on cash in the bank, and increases bookkeeping accuracy.
You short-sell 200 shares of Rock Creek Fly Fishing Co. today at $50 per share. If you want to limit your loss to $2,500, $ Blank 1. Fill in the blank, read surrounding text. is the maximum price per share you should place when you close your position
Answer:
So, the maximum price per share that should place is $62.5
Explanation:
As per given data
Current Price of stock = $50
Numbers of share = 200 shares
Limit of loss = $2,500
We will use the following formula to calculate the Maximum price of stock
Total Maximum loss possible = [ ( Prefix Price of share - Current price of share ) x Numbers of shares of stock ]
$2,500 = [ ( Prefix Price of share - $50 ) x 200 ]
$2500 / 200 = Prefix Price of share - $50
$12.5 + $50 = Prefix Price of share
$62.5 = Prefix Price of share
Therefore, thee order will be stopped at $62.50
During the period, labor costs incurred on account amounted to $175,000, including $150,000 for production orders and $25,000 for general factory use. In addition, factory overhead charged to production was $32,000. The entry to record the direct labor costs is a. Work in Process150,000 Wages Payable150,000 b. Wages Payable150,000 Work in Process150,000 c. Wages Payable175,000 Work in Process175,000 d. Work in Process175,000 Wages Payable175,000
Answer:
d. Work in Process 175,000 Wages Payable 175,000
Explanation:
Production Orders and General factory expenses are all manufacturing costs and are included in Work In Process Cost for Inventory Valuation. Since the wages have not been paid yet, a Liability account - Wages Payable has to be credited in total of amount due.
_____ uses an iterative process that repeats the design, development, and testing steps as needed, based on feedback from users.
Answer: Rapid Application Development (RAD)
Explanation:
Rapid Application Development (RAD) is a method of developing software that tries more to develop a working model first and then adjusts as it receives feedback from users. It essentially is evolving every time because instead of planning for what is needed ahead of time, it simply makes a product and changes it as needed to fit the actual needs of the customers.
Answer: Rapid Application Development
Explanation: got it right on edgen
The Don't Tread on Me Tire Company had Retained Earnings at December 31, 2015 of $200,000. During 2016, the company had revenues of $400,000 and expenses of $350,000, and the company declared and paid dividends of $11,000. Retained earnings on the balance sheet as of December 31, 2016 will be:
Answer:
$239,000
Explanation:
The computation of the ending retained earning balance is shown below:
As we know that
Ending retained earnings = beginning retained earnings + net income - dividend paid
where,
Net income is
= Revenues - expenses
= $400,000 - $350,000
= $50,000
And, the other items values would remain the same
So, the ending balance is
= $200,000 + $50,000 - $11,000
= $239,000
Brand managers know that increasing promotional budgets eventually result in diminishing returns. The first one million dollars typically results in a 26% increase in awareness, while the second million results in adding another 18% and the third million in a 5% increase. Andrews’s product Adam currently has an awareness level of 80% . While an important product for Andrews, Adam’s promotion budget will be reduced to one million dollars for the upcoming year. Assuming that Adam loses one-third of its awareness each year, what will Adam’s awareness level be next year?
Answer:
52.88%
Explanation:
The computation of the awareness level for next year is shown below
But before that we need to find out the ending awareness i.e Y which is
= 80% × (1 - 1 ÷ 3)
= 53.33%
Now awareness after the promotion is
= 53.33% + 26%
= 79.33%
Now the ending awareness i.e (Y +1) is
= 79.33% × 2 ÷ 3
= 52.88%
Hence, the awareness level next year is 52.88%
The company had a net income of $248,462, and depreciation expenses were equal to $72,487. What is the firm's cash flow from financing activities?
Complete Question:
The complete question can be seen the in the attachment at the end of the solution of the question.
Answer:
Option B. -$182,057
Explanation:
The Cash flow from financing activities can be calculated by using the following formula:
Cash flow from financing activities = Changes in the equity finance
+ Changes in long term borrowings + Changes in short term borrowings
- Interest paid - Dividends paid
Here
Changes in the equity = $175,000 common stock in year 2008
- $125,000 common stock in year 2008 = $50,000
Changes in long term Borrowings = $61,290 - $78,445 = - $17,155
Changes in short term Borrowings = $16,753 - $12,004 = $4749
Interest paid is $0 because interest rate is not given hence we can't calculate it.
Dividends paid = $190,568 Opening Retained Earnings + $248,462 Net Profit for the year - $219,379 Closing Retained Earnings = $219,651
Now, by putting values in the above equations, we have:
Cash flow from financing activities = $50,000 - $17,155 + $4749 - 0 - $219,651 = -$182,057
Zapper has beginning equity of $279,000, net income of $62,000, dividends paid of $51,000 and stockholder investments of $17,000. Its ending equity is:
Answer:
$307,000
Explanation:
Equity is the remaining value of the owner;s interest in a company after all liabilities have been settled.
It can also be defined as the capital contributed by the owners and the attributable profit or losses after a trading period that is retained in the entity.
The net income and the stockholder investment , being an inflow ,will be added to the beginning equity while the dividends paid being an outflow is deducted.
Workings
Ending equity = Beginning equity + net income +Stockholder investment - Dividends paid
=279,000+62,000+17,000-51,000
307,000
Here are the comparative income statements of Ivanhoe Corporation. IVANHOE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $624,100 $523,300 Cost of goods sold 462,100 405,800 Gross Profit 162,000 117,500 Operating expenses 72,300 44,300 Net income $ 89,700 $ 73,200 (a) Prepare a horizontal analysis of the income statement data for Ivanhoe Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)
Answer:
2022 2021 Change % Change
Net sales 624,100 523,300 100,800 19.23%
Cost of goods sold 462,100 405,800 56,300 13.87%
Gross profit 162,000 117,500 44,500 37.87%
Operating exp. 72,300 44,300 28,000 63.21%
Net Income 89,700 73,200 16,500 22.54%
Since we are using the 2021 income statement as base year, any change will be calculated by dividing the total change by the 2021 amount, and then multiply by 100 to get the %.
Rank the steps of the (sandwich) ELISA procedure from first step to last step. Do not overlap any steps.
Answer and Explanation:
The ELISA refers to the enzyme-linked immunosorbent assay (ELISA) It is used to determine the existence of an antigen in a sample with the help of antibiotics
The ELISA procedure in sequence form is shown below:
1. The capture antibody is added and then clean it
2. Now adding the blocking buffer and then clean it
3. Now add the samples with controls, Hatch it and clean it
4. Add horseradish peroxidase (HRP) conjugated with the antibody, Hatch it and clean it
5. Add Thymidine monophosphate (TMP)
6. And finally, the last step is to record the results
Filling your individualf ederal tax returns would be best described what type of value chain?
Answer: Government to customer (G2C)
Explanation:
Filing is one of the requirements of any business person to give proper record of what they did in their business and how they delivered to the masses. This is proper for tax clearance and returns. When filing your individual tax returns the value chain is known as government to customer (G2C). This is recommended.
Matt is passionate about Hollister. It is the only place he'll buy his clothes. He hasn't shopped anywhere else in the last few years and will often write positive reviews on his blog about Hollister's merchandise. From a strictly marketing perspective, Matt's positive reviews reflect
Answer:
Bias
Explanation:
Bias is a preference towards something do to ignorance. he is being biased becuase he never goes to other stores to see if they are better