Following is information from Best Industries for Year 1. Total Year 1 revenue $1,977,040 Projected revenue growth rate, for next five years 3% Terminal revenue growth rate, after year 5 1% Net operating profit margin (NPM) 6.4% Net operating asset turnover (NOAT) 2.35 Projected Year 3 total revenue would be Select one:

Answers

Answer 1

Answer: $2,097,442.2

Explanation:

Projected Year 3 total revenue would be calculated thus:

Since the revenue will increase at the rate of 3% for every year and year 3, there'll be 2 years from year 1, this will then be expressed as:

= Total Year 1 revenue × (1 + 3%)²

= $1,977,040 × (1 + 0.03)²

= $1,977,040 × 1.03²

= $1,977,040 × 1.0609

= $2,097,442.2


Related Questions

indirect materials are those used that enter into and become a major part of the finished product true or false

Answers

Yes it is true and it is correct

Japan has been one of China's largest sources of imports, along with South Korea and the United States. Because there is still political enmity between China and Japan due to the Japanese occupation of parts of China during World War II, the best explanation for the present Japanese trade relationship with China is

Answers

Answer: c. geographical proximity

Explanation:

The Japanese and the Chinese have not been on the best of terms for centuries and this became worse in the 20th century with Japanese attacks on the Chinese and then after those ended with the second world war, Japan was and still is firmly in the U.S. camp which China does not appreciate.

This hasn't stopped Japan and China from trading however because they are so close to each other and so logistical benefits ensure that they are some of each others' biggest trading partners.

Consumers buy goods or services they want or need.
True
False

Answers

Answer:

True

Explanation:

Lake Incorporated purchased all of the outstanding stock of Huron Company paying $961,000 cash. Lake assumed all of the liabilities of Huron. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $ 130,300 $ 124,700 Property, plant, equip. (net) 614,000 769,000 Liabilities 151,800 175,000 Lake would record goodwill of:

Answers

Answer:

$242,300

Explanation:

Goodwill = Purchase Price - Net Assets taken over at Fair Value

where,

Purchase Price = $961,000

Net Assets taken over at Fair Value = $ 124,700 + $769,000 - $175,000 = $718,700

therefore,

Goodwill = $961,000 - $718,700 = $242,300

conclusion :

Lake would record goodwill of $242,300

The article discusses actions taken by Mary Conger, a master plumber who teaches mandated continuing education classes so that plumbers can maintain their licenses. If we take an opportunistic view of her action, it is a good example of what? Choose one: A. copyright infringement B. consolidation C. rent-seeking behavior D. quality assurance

Answers

Answer:

Option D

Explanation:

In simple words, Quality assurance, described by ISO 9000 as element of quality control focusing on ensuring trust that performance standards will be met," is a method of preventing errors and failures in manufacturing goods and avoiding issues when supplying products or services to consumers.

Thus, from the above we can conclude that the correct answer is D.

As a result if this we can see that opportunistic view of her action, it is a good example of quality assurance.

According to the question, we are to discuss actions taken by Mary Conger, a master plumber who teaches mandated continuing education classes so that plumbers can maintain their licenses.

Therefore, option D is correct because her action, it is a good example of quality assurance.

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The Town of Drexel has the following financial transactions. Prepare the journal entries necessary for the preparation of fund financial statements.

1. The town council adopts an annual budget for the general fund estimating general revenues of $1.7 million, approved expenditures of $1.5 million, and approved transfers out of $120,000.
2. The town levies property taxes of $1.3 million. It expects to collect all but 3 percent of these taxes during the year. Of the levied amount, $40,000 will be collected next year but after more than 60 days.
3. The town orders two new police cars at an approximate cost of $110,000.
4. A transfer of $50,000 is made from the general fund to the debt service fund.
5. The town pays a bond payable of $40,000 along with $10,000 of interest using the money previously set aside.
6. The Town of Drexel issues a $2 million bond at face value in hopes of acquiring a building to convert into a high school.
7. The two police cars are received with an invoice price of $112,000. The voucher has been approved but not yet paid.
8. The town purchases the building for the high school for $2 million in cash and immediately begins renovating it.
9. Depreciation on the new police cars is computed as $30,000 for the period.
10. The town borrows $100,000 on a 30-day tax anticipation note.

Answers

Answer:

1. A. FUND: GENERAL FUND

Dr Estimated Revenues control $1,700,000

Cr Appr. Control $1,500,000

Cr Est. OFU control $120,000

Cr Budgetary Fund Balance 80,000

GOVERNMENT

No journal entry

2. FUND: GENERAL FUND

Dr Property Tax Receivable $1,300,000

Cr Allowance for uncollectible taxes $39,000

Cr Deferred Revenue $40,000

Cr Revenues-Property taxes $1, 221,000

GOVERNMENT: GOVERNMENTAL ACTIVITIES

Dr Property Tax Receivable $1,300,000

Cr Allowance for uncollectible taxes $39,000

Cr Revenues - Property taxes $1,261,000

3. FUND: GENERAL FUND

Dr Encumbrances control $110,000

Cr Fund-balance: reserve for Encumbrances

$110,000

GOVERNMENT

Commitments are not reported

4. FUND: GENERAL FUND

Dr OFU: transfer out $50,000

Cr Cash $50,000

FUND: DEBT SERVICES FUND

Dr Cash $50,000

Cr OFU: Transfer in $50,000

GOVERNEMNT

No journal entry

5. FUND: DEBT SERVICES FUND

Dr Expenditures - Principal $40,000

Dr Expenditures - Interest $10,000

Cr Cash $50,000

GOVERNMENT

Dr Bonds Payable $40,000

Dr Interest Expense $10,000

Cr Cash $50,000

6. FUND:CAPITAL PROJECTS FUND

Dr Cash $2,000,000

Cr Other Financing Sources-Bond Proceeds

$2,000,000

GOVERNMENT

Dr Cash $2,000,000

Cr Bonds Payable $2,000,000

7. FUND: GENERAL FUND

Dr Fund balance- reserve for Encumbrances $110,000

Cr Encumbrances control $110,000

Dr Expenditure: police vehicles $112,000

Cr Vouchers payable $112,000

GOVERNMENT

Dr Police Cars $112,000

Cr Vouchers Payable $112,000

8. FUND: CAPITAL PROJECTS FUND

Dr Expenditures - Building $2,000,000

Cr Cash $2,000,000

GOVERNMENT

Dr Building $2,000,000

Cr Cash $2,000,000

9. FUND

No journal entry

GOVERNMENT

Dr Depreciation Expense $30,000

Cr Accumulated Depreciation $30,000

10. FUND: GENERAL FUND

Dr Cash $100,000

Cr Tax Anticipation Note Payable $100,000

GOVERNMENT

Dr Cash $100,000

Cr Tax Anticipation Note Payable $100,000

Explanation:

Preparation of the journal entries necessary for the preparation of fund financial statements

1. FUND: GENERAL FUND

Dr Estimated Revenues control $1,700,000

Cr Appr. Control $1,500,000

Cr Est. OFU control $120,000

Cr Budgetary Fund Balance $80,000

($1,700,000-$1,500,000-$120,000)

GOVERNMENT

No journal entry

2. FUND: GENERAL FUND

Dr Property Tax Receivable $1,300,000

Cr Allowance for uncollectible taxes $39,000

(3%*1,300,000)

Cr Deferred Revenue $40,000

Cr Revenues-Property taxes $1, 221,000

($1,300,000-$39,000-$40,000)

GOVERNMENT: GOVERNMENTAL ACTIVITIES

Dr Property Tax Receivable $1,300,000

Cr Allowance for uncollectible taxes $39,000

(3%*1,300,000)

Cr Revenues - Property taxes $1,261,000

($1,300,000-$39,000)

3. FUND: GENERAL FUND

Dr Encumbrances control $110,000

Cr Fund-balance: reserve for Encumbrances

$110,000

GOVERNMENT

Commitments are not reported

4. FUND: GENERAL FUND

Dr OFU: transfer out $50,000

Cr Cash $50,000

FUND: DEBT SERVICES FUND

Dr Cash $50,000

Cr OFU: Transfer in $50,000

GOVERNEMNT

No journal entry

5. FUND: DEBT SERVICES FUND

Dr Expenditures - Principal $40,000

Dr Expenditures - Interest $10,000

Cr Cash $50,000

($40,000+$10,000)

GOVERNMENT

Dr Bonds Payable $40,000

Dr Interest Expense $10,000

Cr Cash $50,000

($40,000+$10,000)

6. FUND:CAPITAL PROJECTS FUND

Dr Cash $2,000,000

Cr Other Financing Sources-Bond Proceeds

$2,000,000

GOVERNMENT

Dr Cash $2,000,000

Cr Bonds Payable $2,000,000

7. FUND: GENERAL FUND

Dr Fund balance- reserve for Encumbrances $110,000

Cr Encumbrances control $110,000

Dr Expenditure: police vehicles $112,000

Cr Vouchers payable $112,000

GOVERNMENT

Dr Police Cars $112,000

Cr Vouchers Payable $112,000

8. FUND: CAPITAL PROJECTS FUND

Dr Expenditures - Building $2,000,000

Cr Cash $2,000,000

GOVERNMENT

Dr Building $2,000,000

Cr Cash $2,000,000

9. FUND

No journal entry

GOVERNMENT

Dr Depreciation Expense $30,000

Cr Accumulated Depreciation $30,000

10. FUND: GENERAL FUND

Dr Cash $100,000

Cr Tax Anticipation Note Payable $100,000

GOVERNMENT

Dr Cash $100,000

Cr Tax Anticipation Note Payable $100,000

Retro Rides, Incorporated, operates two divisions: (1) a Management Division that owns and manages classic automobile rentals in Miami, Florida and (2) a Repair Division that restores classic automobiles in Clearwater, Florida. The Repair Division works on classic motorcycles, as well as other classic automobiles. The Repair Division has an estimated variable cost of $60.50 per labor-hour and has a backlog of work for automobile restoration. They charge $80.00 per hour for labor, which is standard for this type of work. The Management Division complained that it could hire its own repair workers for $62.00 per hour, including leasing an adequate work area. What is the minimum transfer price per hour that the Repair Division should obtain for its services, assuming it is operating at capacity?
A) $28.50.
B) $30.00.
C) $39.00.
D) $48.00.

Answers

Answer:

D) $48

Explanation:

The minimum transfer price for the Repair division will be the variable cost which is standard for the same type of work. In the given scenario the price is $80 which is the maximum transfer price while $48 will be the minimum transfer price for Repair division.

Gain contingencies usually are recognized in a company's income statement when: Multiple Choice The gain is reasonably possible and the amount is reasonably estimable. The gain is certain The amount is reasonably estimable. The gain is probable and the amount is reasonably estimable.]

Answers

Answer: The gain is certain

Explanation:

A Gain contingency means that the company stands to make a gain in future if a certain event happens such as the company winning a lawsuit that would result in a good settlement figure for them.

According to U.S. GAAP, gain contingencies are not to be recognized unless it is certain that the gain is coming. If the gain is not certain and is recorded, the income is considered overstated.

Larance Detailing's cost formula for its materials and supplies is $1,910 per month plus $10 per vehicle. For the month of November, the company planned for activity of 86 vehicles, but the actual level of activity was 51 vehicles. The actual materials and supplies for the month was $2,430. The materials and supplies in the flexible budget for November would be closest to:

Answers

Answer:

$2,420

Explanation:

Calculation to determine what The materials and supplies in the flexible budget for November would be closest to:

Using this formula

Cost = Fixed cost + (Variable cost per unit × q)

Let plug in the formula

Cost= $1,910 + $10 × 51

Cost= $2,420

Therefore The materials and supplies in the flexible budget for November would be closest to:$2,420

A very large company would be most likely to have a(n) ___ at the ahead of its accounting department.

A. Executive vice president
B. Controller
C. Chief financial officer
D. Accounting manager

Answers

A very large company would be most likely to have a Chief financial officer as the head of its accounting department.

The Chief Financial Officer (CFO) would most likely be in charge of the accounting division of a very large corporation. A company's Chief Financial Officer (CFO) is in charge of all financial operations, including accounting, budgeting, financial reporting, and forecasting. The day-to-day accounting activities of a corporation are managed by the controller, who holds a mid-level role. The basic duties of the accounting manager include leading a group of accountants and supervising the creation of financial statements and reports. Even though the executive vice president may be in charge of the entire organization, they could not have specific knowledge of accounting and finance.

A Chief Financial Officer (CFO) is a senior executive accountable for directing the financial actions of a firm. Monitoring cash flow, assessing the firm's financial advantages and disadvantages, and creating strategies for financial expansion are all tasks assigned to the CFO. Also, they are in charge of supervising the creation of predictions and current financial reports. In conclusion, the CFO is essential to the efficient management of a company's finances.

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n a continuous review system, the average daily demand for a part is Normally distributed with mean 20 and standard deviation of 4. The lead time to receive the part from the time it is ordered is 9 days. The appropriate re-order point for this part if we want a 95% service level is a. 200 b. 20 c. 180 d. 184

Answers

Answer: 200

Explanation:

Based on the information given in the question, the appropriate re-order point for this part if we want a 95% service level will be:

Mean demand = 20

Standard deviation of demand = 4

Lead time = 9 days

Service level = 95% = 95/100 = 0.95

Re-order Point will be:

= (demand × lead time) + (z* × std dev × ✓leadtime)

= (20 × 9) + (1.645 × 4 × ✓9)

= (180) + (1.645 × 4 × 3)

= 199.74

= 200 approximately

The re-order point is 200

In January 2021 Vega Corporation purchased a patent at a cost of $203,000. Legal and filing fees of $50,000 were paid to acquire the patent. The company estimated a 10-year useful life for the patent and uses the straight-line amortization method for all intangible assets. In January 2024, Vega spent $24,000 in legal fees for an unsuccessful defense of the patent and the patent is no longer usable. The amount charged to income (expense and loss) in 2024 related to the patent should be:

Answers

Answer:

$201,100

Explanation:

Calculation to determine The amount charged to income (expense and loss) in 2024 related to the patent should be:

Total patent cost= $203,000 + $50,000

= $253,000

Amortized cost till year 2024 is

= ($253,000 ÷ 10 years) × 3 years

= $75,900

The three years is counted from 2021 to 2024

Now

Book value on Jan 2024 is

= $253,000 - $75,900

= $177,100

So,

Amount charged to income is

= $177,100 + $24,000

= $201,100

Therefore The amount charged to income (expense and loss) in 2024 related to the patent should be:$201,100

What are the implications of CIC’s approach to staffing project teams? Is the company using project teams as training grounds for talented fast-trackers, or as dumping grounds for poor performers?

Answers

Answer:

CIC's methodology to projects team employment is based on functional structure. It gathers team individuals from several departments. They grant team players very little influence. They are not permitted to review the effectiveness of task team participants however, operational heads are permitted to do so.

Training under this approach is a very positive thing and should be welcomed by the individuals. It gives the the candidates to enhance their skill and become appropriate for the job environment.

Ingrid Inc. has strict credit policies and only extends credit to customers with outstanding credit history. The company examined its accounts and determined that at January 1, 2019, it had balances in Accounts Receivable and Allowance for Doubtful Accounts of $478,000 and $7,900 (credit), respectively. During 2019, Ingrid extended credit for $3,075,000 of sales, collected $2,715,000 of accounts receivable, and had customer defaults of $4,280. Ingrid performed an aging analysis on its receivables at year end and determined that $6,800 of its receivables will be uncollectible.

Required:
a. Calculate Ingrid's balance in accounts receivable on December 31, 2018, prior to the adjustment.
b. Calculate Ingrid's balance in allowance for doubtful accounts on December 31, 2018, prior to the adjustment.
c. Prepare the necessary adjusting entry for 2018.

Answers

Answer:

Ingrid Inc.

a. Ingrid's balance in accounts receivable on December 31, 2018, prior to the adjustment is:

= $833,720.

b. Ingrid's balance in allowance for doubtful accounts on December 31, 2018, prior to the adjustment is:

= $6,800.

c. Adjusting Entry:

Debit Bad Debts Expense $3,180

Credit Allowance for Doubtful Accounts $3,180

To record the bad debts expense for the year and bring the balance of the Allowance for Doubtful Accounts to a credit balance of $6,800

Explanation:

a) Data and Calculations:

January 1, 2019 balances:

Accounts Receivable $478,000

Allowance for Doubtful Accounts $7,900 (credit)

Accounts Receivable $3,075,000 Sales Revenue $3,075,000

Cash $2,715,000 Accounts Receivable $2,715,000

Allowance for Doubtful Accounts $4,280 Accounts Receivable $4,280

Ending balance:

Allowance for Doubtful Accounts $6,800 (Credit)

T-Accounts

Account Titles                      Debit      Credit

Beginning balance         $478,000

Sales Revenue            $3,075,000

Cash                                               $2,715,000

Allowance for Doubtful Accounts       $4,280

Ending balance                                $833,720

Allowance for Doubtful Accounts

Account Titles                      Debit      Credit

Beginning balance                            $7,900

Accounts Receivable      $4,280

Bad Debts Expense                             3,180

Ending balance               $6,800

A perfectly elastic demand curve implies that the firm Select one: a. The demand curve for a purely competitive firm is downsloping, but the demand curve for a purely competitive industry is perfectly elastic. b. The demand curves are perfectly elastic for both a purely competitive firm and a purely competitive industry. c. The demand curves are downsloping for both a purely competitive firm and a purely competitive industry. d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.

Answers

Answer: d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.

Explanation:

In a purely competitive market, all the firms are selling the same product so there is a lot of competition. The market sets the price in this industry at the point where quantity demanded equals quantity supplied and the demand curve for the whole industry is downward sloping.

When it comes to the demand curve for the individual firm however, it is elastic because price is not set by the firm. This perfectly elastic demand shows that if the firm tries to sell at a price that is different from the market, quantity demanded from that firm would change by infinity because people would prefer the market price.

The net income reported on the income statement for the current year was $245,000. Depreciation was $40,000. Account receivable and inventories decreased by $12,000 and $35,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities

Answers

Answer:

$339,000

Explanation:

Computation of operating activity as is as seen below;

= Net income + Depreciation + Accounts receivable + Inventories decrease - Prepaid expenses + Accounts payable increase

= $245,000 + $40,000 + $12,000 + $35,000 - $1,000 + $8,000

= $339,000

Therefore, the sum of $339,000 was provided as cash for operating activities.

Top Line Electronics has a piece of machinery that costs $600,000 and is expected to have a useful life of 4 years. Residual value is expected to be $100,000. Using the double-declining-balance method, what is depreciation expense for the first year

Answers

Answer:

Annual depreciation= $250,000

Explanation:

Giving the following information:

Purchase price= $600,000

Salvage value= $100,000

Useful life= 4 years

To calculate the annual depreciation, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(600,000 - 100,000) / 4]

Annual depreciation= $250,000

Scientific management were more concerned with the problems at the.........a. operational b.High level​

Answers

Answer:

The correct option is a. operational level​.

Explanation:

Scientific management is a management theory that examines and combines workflows. Its fundamental goal is to increase economic efficiency, particularly worker productivity at thee operational level.

Operational level is a level at which operational activities of a business are carried out. Operational activities are company functions that are directly tied to supply of goods and/or services to the market. Basic business activities include producing, distributing, marketing, and selling a product or service.

Therefore, the correct option is a. operational level​. That is, scientific management were more concerned with the problems at the operational level​.

quick please I need help

Answers

Answer:

Answer below

Explanation:

Income

Monthly income $60 ( the $15 per week * 4 the number of weeks in a month ).

Grandparents $30

Total income $90

Essential expenses ( fixed )

Bicycle tune up $20

Essential expenses ( variable )

New bike tire $5

Non-essential expenses

Game $50

Total expenses $75

Total savings $15

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Consider a stock with current year dividend equal to $2.00 per share. You believe the dividend will grow 15% per year for 10 years and 4% per year thereafter.The required equity rate of return (and your hurdle rate) is 10%. What is the fair price of the stock? Assuming the market price of the stock is $70, what is the expected return?

Answers

Answer:

a. Fair price of the stock = $79.82

b. The expected return is 7.29%

Explanation:

a. What is the fair price of the stock?

Note: See the attached file for the calculation of present values (PV) of dividends for year 1 to 10.

From the attached excel file, we have:

Previous year dividend in year 1 = Current year dividend = $2

Total of dividends from year 1 to year 10 = $25.74793130208810

Year 10 dividend = $8.09111547141582

Therefore, we have:

Year 11 dividend = Year 10 dividend * (100% + Dividend growth rate in year 11) = $8.09111547141582 * (100% + 4%) = $8.41476009027245

Share price at year 10 = Year 11 dividend / (Required equity rate of return - Perpetual dividend growth rate) = $8.41476009027245 / (10% - 4%) = $140.246001504541

PV of share price at year 10 = Price at year 10 / (100% + required equity rate of return)^Number of years = $140.246001504541 / (100% + 10%)^10 = $54.0709047493998

Therefore, we have:

Fair price of the stock = Total of dividends from year 1 to year 10 + PV of share price at year 10 = $25.74793130208810 + $54.0709047493998 = $79.82

b. Assuming the market price of the stock is $70, what is the expected return?

This can be calculated using the dividend discount model formula as follows:

P = D1 / (r - g) ............................ (1)

Where,

P = Market price of the stock = $70

D1 = Next dividend = Current dividend * (100% + Dividend growth rate in perpetuity) = $2 * (100% + 4%) = $2.30

r = Expected return = ?

g = Dividend growth rate in perpetuity = 4%, or 0.04

Substituting the values into equation (1) and solve for r, we have:

70 = 2.30 / (r - 0.04)

70(r - 0.04) = 2.30

70r - 2.80 = 2.30

70r = 2.30 + 2.80

70r = 5.10

r = 5.10 / 70

r = 0.0729, or 7.29%

Therefore, the expected return is 7.29%.

As a marketing term, __________ generally includes not only physical goods, but also services and ideas. Multiple Choice marketing invention merchandise product concept

Answers

Answer:

product

Explanation:

The product is an item that the company offer to its customer for buying the product. It is not only the goods that to be kept physically but it also consist of the services and ideas so that it become differentiate with the competitor. The product can be differentiate in terms of cost, quality, quantity, presentable form via having the innovative ideas

So, the 2nd last option is correct

In response to dwindling sales of organic meats, Hain Celestial executives decided to promote the sale of organically grown nuts as an alternative source of protein, which is an excellent example of a firm's:

Answers

Answer:

Product substitute

Explanation:

Product substitute is defined as one that meets similar needs of the consumer. As demand for one of such goods rises the demand of the other tends to fall as the meet similar needs.

In the given scenario organic meats are seen as being substituted by organically grown nuts as a source of protein.

So when Hain Celestial has dwindling sales of organic meats they were considering organically grown nuts as a different product to give to customers

Quantum Inc. has warrants outstanding that allow the holder to purchase 1.5 shares of stock per warrant at $30 per share (exercise price). Thus, each individual share can be purchased at $30 with the warrant. The common stock is currently selling for $36. The warrant is selling for $12.

Required:
a. What is the intrinsic (minimum) value of this warrant?
b. What is the speculative premium on this warrant?
c. What should happen to the speculative premium as the expiration date approaches?

Answers

Answer:

A. $9.00

B. $3.00

C. Decrease

Explanation:

a. Calculation to determine the intrinsic (minimum) value of this warrant

Using this formula

I = (M – E) × N

Where,

I represent Intrinsic value of a warrant

M represent Market value of common stock

E represent Exercise price of a warrant

N represent Number of shares each warrant entitles theholder to purchase

Let plug in the formula

I=($36 – $30) *1.5

I=$6*1.5

I = $9.00

Therefore the intrinsic (minimum) value of this warrant is $9.00

b. Calculation to determine the speculative premium on this warrant

Using this formula

S = W – I

Where,

S representSpeculative premium

W represent Warrant price

I represent Intrinsic value.

Let plug in the formula

S=$12-[($36 – $30) *1.5]

S=$12 – $9

S = $3.00

Therefore the speculative premium on this warrant is $3.00

c.What should happen to the SPECULATIVE PREMIUM as the expiration date approaches is for it to DECREASE and thereby approach $0.

If Jerry deposits $462 of cash in a checking account in the Tenth National Bank, what's the maximum change in the money supply in the economy

Answers

Answer:

$4620

Explanation:

It is assumed that the required reserve is 10%

Reserve requirement is the portion of deposit received by banks that the central bank requires to be kept as deposit.  

Increase in the total value of checkable deposit is determined by the money multiplier

Money multiplier = amount deposited / reserve requirement

462 /0,1 = $4620

Emily Company has 20,000 shares of cumulative preferred stock outstanding, with annual dividends paid at a rate of $2 per share. The company also has 40,000 shares of common stock outstanding. Preferred dividends are in arrears from the prior year and the number of shares remained the same for this year and last year. If the company declares a $400,000 dividend in the current year, each outstanding share of common stock would receive:

Answers

Answer:

$8.00

Explanation:

Preference Stock has preference when it comes to payment of dividends. The remainder is paid to common stock. When the preference stocks are cumulative, the previous dividends outstanding have to be paid up before current year dividends.

Preference Dividend :

Preference Dividend = 20,000 shares x $2 = $40,000

Thus in current year $80,000 dividend ($40,000 x 2) need to be paid up

Common Stock Dividend :

Dividend = $400,000 - $80,000 = $320,000

Dividend per stock = $320,000 ÷ 40,000 shares = $8.00

therefore,

Each outstanding share of common stock would receive: $8.00

Steve Pratt, who is single, purchased a home in Spokane, Washington, for $347,500. He moved into the home on February 1 of year 1. He lived in the home as his primary residence until June 30 of year 5, when he sold the home for $705,000. (Leave no answer blank. Enter zero if applicable.) a. What amount of gain will Steve be required to recognize on the sale of the home

Answers

Answer: $107,500

Explanation:

There is an "Exclusion of gain on sale of home" provision by the IRS that allows for a single tax payer to exclude up to $250,000 from the sale of their primary home. A home qualifies as primary if the owner has lived in it for 2 years or more so Steve's home here is a primary home.

The gain he received was:

= 705,000 - 347,500

= $357,500

From this gain, $250,000 can be excluded so total gain recognized:

= 357,500 - 250,000

= $107,500

Blue Lite manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $2 per pound. During November 500 pounds of raw materials costing $4 per pound were used in making 450 weather vanes. The materials price and quantity variance are: Group of answer choices

Answers

Answer: See explanation

Explanation:

The material price variance will be calculated as:

= (Standard price - Actual price) × Actual quantity of material used

= ($2 - $4) × 500

= -$2 × 500

= $-1000

= $1000 Unfavourable

The material quantity variance will be:

= Standard quantity - Actual quantity) × Standard price

=[(450 × 2) -500] × $2.00

= (900 - 500) × $2.00

= 400 × $2.00

= $800 Favorable

Outdoor Company is located in Kirkland, Washington, where the city and the state have minimum wage laws. Outdoor pays its starting employees the legal minimum rate, which, among the governing laws, is Group of answer choices the federal minimum wage. the city minimum wage. the highest of the minimum wages. the state minimum wage.

Answers

Answer: the highest of the minimum wages.

Explanation:

The company will have the pay the minimum wage that is the highest because they are under the authority of all three governments and paying the highest minimum wage would ensure that they automatically follow the minimum wages set by the other two authorities.

For instance; the federal minimum wage is $7.25 per hour, the state minimum wage is $10 per hour and the city minimum is $12 per hour. When the company pays $12 an hour, they would be adhering to the city minimum and automatically adhering to the Federal and State minimums as well.

Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, variable expenses of $153,600, and traceable fixed expenses of $70,800. The Alpha Division has sales of $615,000, variable expenses of $337,800, and traceable fixed expenses of $132,700. The total amount of common fixed expenses not traceable to the individual divisions is $134,200. What is the company's net operating income

Answers

Answer:

$2,000

Explanation:

net operating income = total contribution - common fixed expenses

If 10,000 pounds of direct materials are purchased for $9,300 on account and the standard cost is $.90 per pound, the journal entry to record the purchase is Raw Materials Inventory 9,300 Accounts Payable 9,000 Materials Price Variance 300 Raw Materials Inventory 9,000 Materials Price Variance 300 Accounts Payable 9,300 Work In Process Inventory 9,300 Accounts Payable 9,000 Materials Quantity Variance 300 Raw Materials Inventory 9,300 Accounts Payable 9,300

Answers

Answer:

Raw Materials Inventory 9,000 Materials Price Variance 300 Accounts Payable 9,300

Explanation:

Based on the information given journal entry to record the purchase is

Dr Raw Materials Inventory $9,000

(10,000 pounds*$.90 per pound)

Dr Materials Price Variance $300

($9,300-$9,000)

Cr Accounts Payable $9,300

(To record purchase)

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