g Donald’s employer fires Donald after only four months on the job, a clear breach of Donald’s written twelve-month employment contract. Donald is entitled to recover as damages:

Answers

Answer 1

Answer:

Compensatory Damages

Explanation:

Based on this scenario it can be said that Donald is entitled to Compensatory Damages. This is a lawsuit that covers the loss that the non-breaching party incurred as a result of the breach of contract. In this scenario, Donald's employer breached the contract by firing Donald before the twelve months. Therefore Donald can sue for compensatory damages which would be the amount of money that he would have made in the rest of the twelve months.


Related Questions

Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows:
Average Cost per Unit
Direct materials $6.70
Direct labor $3.25
Variable manufacturing overhead $1.60
Fixed manufacturing overhead $3.00
Fixed selling expense $0.70
Fixed administrative expense $0.40
Sales commissions $0.50
Variable administrative expense $0.55
If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:__________
a. $28,000
b. $14,800
c. $21,400
d. $18,100

Answers

Answer:

Total overhead cost= $21,400

Explanation:

Giving the following information:

When it produces and sells 5,000 units, its average costs per unit are as follows:

Variable manufacturing overhead $1.60

Fixed manufacturing overhead $3.00

First, we need to calculate the total fixed manufacturing overhead:

Fixed overhead= 3*5,000= $15,000

Now, we can calculate the total overhead cost for 4,000 units.

Total overhead cost= total variable cost + total fixed cost

Total overhead cost= 1.6*4,000 + 15,000

Total overhead cost= $21,400

You are developing the project charter for a new project. Which of the following
is NOT part of the enterprise environmental factors?

A) Lessons learned from previous projects
B) The work authorization system
C) Government and industry standards that affect your project
D) Knowledge of which departments in your company typically work on projects

Answers

Answer: A) Lessons learned from previous projects

Explanation:

Enterprise Environmental Factors (EEF) refers to all environmental factors that have a say in whether a project is successful or not. They include both internal factors such as company infrastructure, knowledge and capability (departments with the knowledge on project design and implementation) and internal project authorization systems as well as external factors such as Government standards and market conditions.  

Lessons learned from previous projects, while important, are not included in this list and are not Enterprise Environmental Factors.

Abburi Company's manufacturing overhead is 55% of its total conversion costs. If direct labor is $58,500 and if direct materials are $29,200, the manufacturing overhead is:

Answers

Answer:

 $71,500

Explanation:

The computation of manufacturing overhead is shown below:-

We assume conversion cost = x

Conversion cost = Labor cost + manufacturing overhead

x = $58,500 + 0.55x

x = $58,500 ÷ 0.45

= $130,000

Now the manufacturing overhead is

= Conversion cost × maufacturing overhead percentage

= $130,000 × 55%

= $71,500

We simply applied the above formula

Which of the following is NOT an element of organizational structure? A) Well-articulated mission, vision, and value statements. B) Formal reporting relationships. C) Grouping together of individuals into departments. D) Systems designed to ensure effective communication

Answers

Answer:

A) Well-articulated mission, vision, and value statements.

Explanation:

An organizational structure can be defined as a system that states how business activities such as standard rules, task allocation or roles of employees, coordination, responsibilities and supervision of these activities are directed so as to enhance the achievement of the goals, aims and objectives of the organization.

Simply stated, an organizational structure usually defines a hierarchy, which is used to determine how information, roles and responsibilities flow from one level to another in an organization. Generally, the flow of information are usually from top to bottom.

Furthermore, the organizational structure can be divided into four (4) distinct categories and these are;

1. Matrix organizational structure.

2. Functional organizational structure.

3. Divisional organizational structure.

4. Flat organizational structure.

The following are the elements of organizational structure;

A. Formal reporting relationships. This is enhanced by assigning a hierarchy, where informations are reported to the right individual and in a timely manner as well.

B. Grouping together of individuals into departments. This is to increase the level of output and enhance building good, coordinated development through division of labor.

C. Systems designed to ensure effective communication.

Hence, a well-articulated mission, vision, and value statements isn't an element of organizational structure. It could be regarded as an organization's center of gravity.

An organizational structure is a system that specifies how business operations, such as standard norms, task distribution or personnel roles, coordination, responsibilities, and supervision, are directed in order to help the organization achieve its goals, aims, and objectives.

So, Option A is the correct option which is not true about organizational structure.

The other options are incorrect as:

Option B is incorrect as Relationships of formal reporting. This is aided by establishing a hierarchy in which information is reported to the appropriate person and in a timely manner.

Option C is incorrect as Individuals are organized into departments. This is to raise output and improve the development of good, coordinated development by dividing labor.

Option D is incorrect as yes designing system to ensure effective communication is element of organizational structure.

Thus option A isn't a part of the company's structure. It's possible to think of it as the organization's center of gravity.

For more information about organizational structure refer to the link:

https://brainly.com/question/23967568

You want to have $18,000 in 9 years for a dream vacation. If you can earn an interest rate of .5 percent per month, how much will you have to deposit today

Answers

Answer:

$10,503.59

Explanation:

This question requires us to find how much you have to deposit today if:

Fv = 18,000

Time = 9 years

PV= fv/(1 + i)^n

N = 9 X 12 = 108

I/y = 0.5%

PV = $18,000 / 1.005^108

= $10,503.59

Therefore what you have to deposit today is $10,503.59

Bastille Corporation prepares monthly cash budgets.

Here are relevant operating budgets for 2017:

January February
Sales $360,000 $400,000
Purchases 120,000 130,000
Salaries 84,000 81,000
Administration expenses 72,000 75,000
Selling expenses 79,000 88,000
All sales and purchases are on account.

Budgeted collections and disbursement data are given below.

All other expenses are paid in the month incurred.

Administrative expenses include $1,000 of depreciation per month.

Other data:
1. Collections from customers: January $326,000; February $378,000.
2. Payments for purchases: January $110,000; February $135,000.
3. Other receipts: January - collection of December 31, 2016 notes receivable $15,000; February - proceeds from sale of securities $4,000.
4. Other disbursements: February $10,000 cash dividend.
The company's cash balance on January 1, 2017 is expected to be $46,000. The company wants to maintain a minimum cash balance of $40,000.

Required:

Prepare a cash budget for January and February.

Answers

Answer and Explanation:

The Preparation of the cash budget for January and February is prepared below:-

                                          Bastille Corporation  

                                               Cash budget

                              for the month of January and February  

Particulars                                 January             February  

Beginning cash balance         $46,000              $43,000

Add: Receipts                      

Customer collection                 $326,000           $378,000

Notes receivable collection     $15,000              $0

Sale of marketable securities    0                        $4,000

Total receipts                            $341,000             $382,000

Total cash available                  $387,000           $425,000

Less:  

Cash payments during the

year

Purchases                                   $110,000           $135,000

Salaries                                       $84,000            $81,000

Administrative expenses           $71,000             $74,000

Selling expenses                         $79,000            $88,000

Dividends                                     0                        $10,000

Disbursement total                     $344,000          $388,000

Excess of cash  

available                                      $43,000             $37,000

Financing

Borrowings                                   0                        $3,000

Repayments                                  0

Ending cash balance                   $43,000            $40,000

Note: February beginning balance is the balance of ending cash balance.

If workers leave a country to seek out better opportunities in another country, then this will move the original economy up along a stationary short-run aggregate supply curve. move the original economy down along a stationary short-run aggregate supply curve. shift the short-run aggregate supply curve of the original country to the left. shift the short-run aggregate supply curve of the original country to the right.

Answers

Answer: Shift the short-run aggregate supply curve of the original country to the left.

Explanation:

Workers are an input in the production of goods and services. If workers in an economy reduce in number, this would mean that there would be less workers able to produce goods and services in the country. This will invariably lead to a decrease in the amount of goods and services supplied and when there is a decrease in supply, the Short-Run Aggregate Supply curve will shift to the left to reflect this.

A job cost sheet of Fugate Company is given below.

Job Cost Sheet

Date Direct Materials Direct Labor Manufacturing Overhead
5/10 1,330
12 1,120
15 550 825
22 480 720
24 1,000
27 1,870
31 670 1,005

Cost of completed job:

Direct materials.
Direct labor.
Manufacturing Overhead.
Total cost.
Unit cost.

Requried:
a. What is the predetemined manufacturing overhead rate?
b. What are the total cost and the unit cost of the completed job?
c. Prepare the entry to record the completion of the job.

Answers

Answer:

A.Direct material 5,320

Direct labour 1,700

Manufacturing overhead 2,550

B. Total cost 9,570

Unit cost 6.38

C. Dr Finished goods inventory account 9,570

Cr Work in Process inventory account 9,570

Explanation:

A. Calculation for the predetemined manufacturing overhead rate

Date Direct material Direct Labour Manufacturing Overhead

5/10 1,330

12 1,120

15 550 825 825

22 480 720 720

24 1,000

27 1,870

31 670 1,005

Total 5,320 1,700 2,550

B. Calculation for the total cost and the unit cost of the completed job

Cost of Completed job :

Direct material 5,320

Direct Labour 1,700

Manufacturing Overhead 2,550

Total Cost 9,570

Unit Cost = Total Cost / Number of units

Unit cost = 9,570/1,500

Unit cost = 6.38

C.Therefore when a job is fully completed, thebFinished goods inventory account will be

debited with the correspondent credit of Work in progress account.

Journal entry

May.31

Dr Finished goods inventory account 9,570

Cr Work in Process inventory account 9,570

On December 31, 2017, Jerome Company has an accounts receivable balance of $316,000 before any year-end adjustments.
The Allowance for Doubtful Accounts has a $1,000 credit balance. The company prepares the following aging schedule for accounts receivable:
Total Balance 1-30 days 31-60 days 61-90 days over 90 days
$316,000 $152,000 $87,000 $50,000 $27,000
Percent uncollectible 1% 2% 3% 21%
What is the Allowance for Uncollectible Accounts at December 31, 2017?
A. $1,000
B. $11,430
C. $9,430
D. $10,43

Answers

Answer:

The Allowance for Uncollectible Accounts at December 31, 2017 is $10,430

Explanation:

In order to calculate the Allowance for Uncollectible Accounts at December 31, 2017 we would have to make the following calculation:

Allowance for Uncollectible Accounts at December 31, 2017=Estimated Allowance 1-30 days+Estimated Allowance 31-60 days+Estimated Allowance 61-90 days+Estimated Allowance over 90 days

Estimated Allowance 1-30 days=Balance*% Uncollectible

Estimated Allowance 1-30 days=$152,000*1%=$1,520

Estimated Allowance 31-60 days=$87,000*2%=$1,740

Estimated Allowance 61-90 days=$50,000*3%=$1,500

Estimated Allowance over 90 days=$27,000*21%=$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$1,520+$1,740+$1,500+$5,670

Allowance for Uncollectible Accounts at December 31, 2017=$10,430

Use the following information to answer questions 4a.1-4a.5 Gerrell Corp. is comparing two different capital structures. Plan I would result in 18,000 shares of stock and $95,000 in debt. Plan II would result in 14,000 shares of stock and $190,000 in debt. The interest rate on the debt is 5 percent. Compare both of these plans to an all-equity plan assuming that EBIT will be $90,000. The all-equity plan would result in 22,000 shares of stock outstanding. Assuming that the corporate tax rate is 40 percent, what is the EPS for each of these plans

Answers

Answer:

Gerrel Corp.

EPS (Earnings per share) = Earnings after Tax/Number of outstanding shares

Plan I:

EBIT =                    $90,000

Interest =                 $4,750 ($95,000 x 5%)

Pre-Tax Income = $85,250

Income Tax Exp.      34,100 ($85,250 x 40%)

After Tax Income  $51,150

EPS = $51,150/18,000 = $2.84 per share

Plan II:

EBIT =                    $90,000

Interest =                 $9,500 ($190,000 x 5%)

Pre-Tax Income = $80,500

Income Tax Exp.     32,200 ($80,500 x 40%)

After Tax Income  $48,300

EPS = $48,300/14,000 = $3.45 per share

Plan III:

EBIT =                    $90,000

Pre-Tax Income = $90,000

Income Tax Exp.     36,000 ($90,000 x 40%)

After Tax Income $54,000

EPS = $54,000/22,000 = $2.45 per share

Explanation:

a) Data and Calculations:

Plan I = 18,000 shares + $95,000 debt

Plan II = 14,000 shares + $190,000 debt

Difference = 4,000 shares + $95,000 debt

Share price = $95,000/4,000 = $23.75

EBIT = $90,000

Interest Rate = 5%

Corporate Tax Rate = 40%

b) Capital Structure:

Plan I: (Equity and Debt)

Shares of 18,000 x $23.75 + $95,000 debt = $522,500 in total capital

Plan II: (Equity and Debt)

Shares of 14,000 x $23.75 + $190,000 debt = $522,500 in total capital

Plan III: (All-equity plan):

Shares of 22,000 x $23.75 = $522,500 in total capital

c) The Earnings per share is the measurement of the Net Income to stockholders divided by the number of outstanding shares.  It gives an idea about the profitability of the entity, especially with regard to the profit made for common stockholders.  The EPS is also one of the metrics used in the calculation of the P/E ratio to indicate whether a company's shares are undervalued or overvalued.

Splish Brothers Inc. issues $4.8 million, 5-year, 7% bonds at 102, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2017, assuming no previous accrual of interest.

Answers

Answer and Explanation:

The Journal entries are shown below:-

Interest expense Dr, $316,800

Premium on bonds payable Dr, $19,200 ($96,000 ÷ 5)

            To Interest payable $336,000    ($4,800,000 × 7%)

(Being interest expense and bond premium amortization is recorded)

Here we debited the interest expenses and premium on bonds as it increased the expenses and we credited the interest payable as it also increased the liabilities

What is the purpose of internal controls? Managers utilize internal controls as a basis of employee performance reviews. Internal controls are used by managers as a way to reduce outstanding customer balances. Companies use strong internal controls to guarantee that loss is eliminated. To help managers know if the business is receiving the assets and services it has paid for.

Answers

Answer:

Companies use strong internal controls to guarantee that loss is eliminated.

Explanation:

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The purpose of internal controls is that companies use strong internal controls to guarantee that loss is eliminated as there's an accurate and reliable accounting system.

An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.

Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.

Answer: To help managers know if the business is receiving the assets and services it has paid for.

Explanation:

A lumber mill is capable of producing 10,000 board feet of lumber per day when run ten hours per day with minimal breaks. Over the past year, forestry legislation has reduced the availability of raw materials, so the mill has produced an average of 4,575 board feet per day. What is the utilization of the plant

Answers

Answer:

45.75%

Explanation:

When asking for the utilization of the plant, the question is basically referring to how much of its full potential is the plant currently operating at. Therefore this can be calculated by dividing its current output (4,575) by its maximum output (10,000) like so...

4,575 / 10,000 = 0.4575

Now we multiply that by 100 in order to get the percentage.

0.4575 * 100 = 45.75%

Therefore the current utilization of the plant is 45.75%

Which of the following products is most likely to be produced in a process operations system?
A. Airplanes
B. Cereal Bridges
C. Designer bridal gowns
D. Custom cabinets

Answers

Answer:

Cereal

Explanation:

Process operations system which is also known as either process manufacturing or process production can be defined as the way of producing a product in mass, by making use of mass production method and this product are often produce in a continuous flow.

Therefore CEREAL is the products that is most likely to be produced in a process operations system because the production of Cereal is mostly carried out or produce in a process operations system.

Diego owns 30 % of Azul Corporation. Azul Corporation owns 50 % of Verde Corporation. Under the attribution rules applying to stock redemptions, Diego is treated as owning 15 % of Verde Corporation.
A. True
B. Flase

Answers

Answer:

Option A,true is correct

Explanation:

The indirect  interest of Diego in Verde Corporation is the percentage holding in Azul Corporation multiplied by percentage holding that Azul Corporation owns in Verde Corporation as further illustrated below:

Holding in Verde Corporation=30%*50%

Holding in Verde Corporation=15.00%

In other words, the statement that  Diego is treated as owning 15 % of Verde Corporation is true

12. A company has an EPS of $2.00, a book value per share of $20, and a market/book ratio of 1.2x. what is its P/E ratio

Answers

Answer:

P/E Ratio = 12x or 12 times

Explanation:

We know that the P/E ratio is calculated by dividing the price per share by the earnings per share or EPS.

P/E = Price per share / Earnings per share

We already have EPS. We need to calculate the price per share.

It is given that book value per share is $20 and the market to book ratio is 1.2x or 1.2 times. Using the formula for market to book ratio, we calculate the market price per share to be,

M/B = Market price per share / Book value per share

1.2 = Market price per share / 20

20 * 1.2 = Market price per share

Market price per share = $24

So, P/E ratio = 24 / 2

P/E Ratio = 12x or 12 times

Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20 an hour. Although the company does not pay any health or ree tirement benefits, one of the perks of working at Aspen is that employees are allowed freskiing on their days off. Federal income taxes are withheld at 15% and state income taxes at

Answers

Answer:

1. a. Total Salary Expense

= No. Of Employees * Hourly rate * Hours worked

= 100 * 20 * 40

= $80,000

b. Total Witholdings from Employee Salaries

This will include all Taxes.

= Federal Income Taxes + FICA Taxes + States Income Taxes

= (80,000 * 15%) + (80,000 * 7.65%) + (80,000 * 5%)

= 12,000 + 6,120 + 4,000

= $22,120

c. Actual Direct Deposit of Payroll.

This refers to the actual amount that will be paid to Employees.

= Total Salary Expense - Taxes

= 80,000 - 22,120

= $57,880

In practice, the gross income (wages or salaries) of an employee is entitled to some compulsory deductions such as States Taxes, Federal Taxes, Federal Payroll tax, Benefit, Insurance Etc.

Here, various information of Tax rate have been given, therefore, the computations of the requirement goes as follows

Total Salary Expense = Number Of Employees * Hourly rate * Hours worked

Total Salary Expense = 100 * $20 * 40

Total Salary Expense = $80,000

Total Withholding from Employee Salaries = Federal Income Taxes + FICA Taxes + States Income Taxes

Total Withholding from Employee Salaries = ($80,000 * 15%) + ($80,000 * 7.65%) + ($80,000 * 5%)

Total Withholding from Employee Salaries = $12,000 + $6,120 + $4,000

Total Withholding from Employee Salaries = $22,120

Actual Direct Deposit of Payroll = Total Salary Expense - Taxes

Actual Direct Deposit of Payroll = $80,000 - $22,120

Actual Direct Deposit of Payroll = $57,880

Missing question includes "Aspen Ski Resorts has 100 employees, each working 40 hours per week and earning $20an hour. Although the company does not pay any health or retirement benefits, one of the perks of working at Aspen is that employees are allowed free skiing on their days off. Federal income taxes are withheld at 15% and state income taxes at 5%. FICA taxes are 7.65% of the first $113,700  earned per employee and 1.45% thereafter. Unemployment taxes are 6.2% of the first $7,000 earned per employee Compute the total salary expense, the total withholdings from employee salaries  and the actual direct deposit of payroll for the first week of January"

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When delivering bad news to customers, use an indirect strategy as you would with other bad news messages, and maintain a positive tone. Occasionally, companies disappoint their customers. Whenever possible, these problems should be addressed immediately. Choose the best answer for the following question about handling customer problems.
What is the first step you should take when a problem arises?
1. Call the individual customer.
2. Disguise the problem as a "technical error."
3. Explain to the customer what they did that caused the problem

Answers

Answer:

1

Explanation:

Well, the focus of an indirect strategy is to create a new peak of satisfaction, when dealing with a disappointing situation. So the key is leaving a positive tone after all. Since maintaining a regular customer is always cheaper than getting a new one.

So, it's important to have an honest conversation with the customer and and offer a good compensation and provide a follow up until the problem is solved, so that the customer be enchanted by the respect shown. In addition to this, make this a turning point. By doing that the customer will regain confidence.

Data from the financial statements of Crafty Crafts and Hobbies, Inc. are presented below (in millions): Crafty Crafts Hobbies, Inc. Total liabilities, 2016 $31,957 $25,461 Total liabilities, 2015 36,104 30,046 Total assets, 2016 46,186 32,872 Total assets, 2015 46,514 35,208 Net sales, 2016 161,466 81,702 Net income, 2016 1,040 1,766 To the nearest hundredth of a percent, what is the 2016 return on assets ratio for Crafty Crafts

Answers

Answer:

Crafty Crafts:

Return on Assets Ratio = Net Income/Average Assets x 100

= $1,040/46,350 x 100

= 2.2%

Explanation:

a) Data

                                       Crafty Crafts          Hobbies, Inc.

Total liabilities, 2016            $31,957               $25,461

Total liabilities, 2015              36,104                 30,046

Total assets, 2016                 46,186                 32,872

Total assets, 2015                 46,514                 35,208

Net sales, 2016                    161,466                  81,702

Net income, 2016                    1,040                    1,766

b) Average Assets:

Crafty Crafts = (2016 + 2015 assets)/2 = ($46,186 + 46,514)/2 = $46,350

c) The Return on Assets Ratio: This financial performance ratio shows how much of the earnings is generated from the assets of the company in a particular period.  It shows the efficiency of management to generate profit from the assets.  Usually, the average assets value is used to even the variations over the period.

Factory Overhead Rate, Entry for Applying Factory Overhead, and Factory Overhead Account Balance The cost accountant for River Rock Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning February 1 would be $3,150,000, and total direct labor costs would be $1,800,000. During February, the actual direct labor cost totaled $160,000, and factory overhead cost incurred totaled $283,900.

Required:
a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals.
b. Journalize the entry to apply factory overhead to production for February.
c. What is the February 28 balance of the account Factory Overhead—Blending Department?
d. Does the balance in part (c) represent overapplied or underapplied factory overhead?

Answers

Answer:

a. 175%

b.

Journal Entry  to apply factory overhead to production for February.

Work In Process $280,000 (debit)

Overheads $280,000 (credit)

c. $3,900

d. Under-applied Overheads

Explanation:

Predetermined Overhead rate = Total Budgeted Overheads /Total Budgeted Activity

                                                   = $3,150,000 / $1,800,000

                                                   = $1.75 per direct labor cost.  or

                                                   = 175% (1.75 × 100)

Applied factory overhead = Predetermined Overhead rate × Actual Activity

                                           = $160,000 × 175 %

                                           = $280,000

Journal Entry  to apply factory overhead to production for February.

Work In Process $280,000 (debit)

Overheads $280,000 (credit)

over-applied or under-applied factory overhead

Over-applied Overheads = Actual Overheads < Applied Overheads

Under-applied Overheads = Actual Overheads > Applied Overheads

Actual Overheads (given) = $283,900

Applied Overheads = $280,000

Actual Overheads: $283,900 > Applied Overheads :$280,000

Thus we have an Under-application situation of $3,900 ($283,900 - $280,000)

Home equity line interest. Sean and Amy Anderson have a home with an appraised value of $180,000 and a mortgage balance of only $90,000. Given that an S&L is willing to lend money at a loan-to-value ratio of 75 percent, how big a home equity credit line can Sean and Amy obtain? How much, if any, of this line would qualify as tax-deductible interest if their house originally cost $100,000?

Answers

Answer:

$135,000

$75,000

Explanation:

Home value = $180,000

Loan to Value ratio = 75%

Formula: Maximum loan amount = Home value x loan to value ratio

Maximum loan amount = $180,000 x 75%

Maximum loan amount = $135,000

If the value of house is $100,000 then,

$100,000 x 75% = $75,000

$75,000 would qualify as Tax deductible interest

Squirrel Tree Services reports the following amounts on December 31.
Assets Liabilities and Stockholders’ Equity
Cash $ 8,300 Accounts payable $ 11,500
Supplies 2,400 Salaries payable 4,100
Prepaid insurance 4,100 Notes payable 26,000
Building 78,000 Common stock 40,000
Retained earnings 11,200
In addition, the company reported the following cash flows.
Cash Inflows Cash Outflows
Customers $ 96,000 Employee salaries $ 40,000
Borrow from the bank (note) 38,000 Supplies 22,000
Sale of investments 35,800 Dividends 15,500
Purchase building 98,000
Required:
1. Prepare a balance sheet.
2. Prepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by a minus sign.)

Answers

1. The preparation of the balance sheet is shown below.

2. The preparation of the cash flow statement is shown below.

1. Balance sheet:

                                    Squirrel Tree Services

                                        Balance Sheet

                              For the year ended 31st December

Assets                        Amount              Liabilities                 Amount

Cash                             $8,300            Accounts payable    $11,500

Supplies                       $2,400            Salary payable         $4,100

Prepaid insurance       $4,100            Notes payable          $26,000

Building                        $78,000

                                                            Total liabilities         $41,600

                                                            Common stock        $40,000

                                                            Retained earning    $11,200

                                                            Total stockholder

                                                                 equity                  $51,200

                                                            Total liabilities and

Total assets              $92,800          stockholder equity   $92,800

B. Cash flow statement:

                                    Squirrel Tree Services

                                        Cash flow

                              For the year ended 31st December

Particulars                                                                         Amount

Cash flow from operating activities

Cash inflow from customers                   $96,000

Cash outflow for salaries                         ($40,000)

Cash outflow for supplies                        ($22,000)

Net cash flow from operating activities                         $34,000

Cash flow from investing activities

Sale of investment                                  $35,800

Purchase of building                               ($98,000)

Net cash flow from investing activities                         ($62,200)

Cash flow from financing activities

Borrow from bank                                  $38,000

Dividends                                                ($15,500)

Net cash flow financing activities                                  $22,500

Net increase in cash                                                       ($5,700)

Beginning cash of the year                                            $15,200

Ending cash of the year                                                 $9,500

Working note

we deduct the cash inflow from cash outflow and add cash to reach the beginning cash of the year.

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The deadweight loss of the profit-maximizing monopoly is identified by what area?

Answers

Answer:

area BCA

Explanation:

The deadweight loss of the profit-maximizing monopoly is recognize by area BCA.

Under the deadweight loss of monopoly More is produced under ideal or perfect competition than under monopoly, and deadweight loss is refer to as the amount that buyers value the added or additional output over and above the opportunity costs of producing the additional output.

When a monopoly maximizes profit, the deadweight loss will be larger if demand is in elastic because there will be a reasonable margin of price to marginal cost.

Boatler Used Cadillac Co. requires $890,000 in financing over the next two years. The firm can borrow the funds for two years at 11 percent interest per year. Ms. Boatler decides to do forecasting and predicts that if she utilizes short-term financing instead, she will pay 7.25 percent interest in the first year and 12.55 percent interest in the second year. Assume interest is paid in full at the end of each year.
A. Determine the lot al two-year interest cost under each plan.
Interest Cost
Long term fixed-rate plan
Short term variable-rate
B. Which plan is less costly?
1. Long term fixed-rate plan
2. Short-term variable-rate plan

Answers

Answer:

A. Total two-year interest cost under long term fixed-rate plan is $195,800; while total two-year interest cost under short term variable-rate is $176,220.

B. Short-term variable-rate plan is less costly.

Explanation:

A. Determine the total two-year interest cost under each plan.

This can be determined for each of the plan as follows:

For Long term fixed-rate plan

Total two-year interest cost under long term fixed-rate plan = Amount required * Interest rate per year * Number of years = $890,000 * 11% * 2 = $195,800

For Short term variable-rate

First year interest cost under short term variable-rate = Amount required * First year interest rate = $890,000 * 7.25% = $64,525

Second year interest cost under short term variable-rate = Amount required * Second year interest rate = $890,000 * 12.55% = $111,695

Total two-year interest cost under short term variable-rate = First year interest cost + Second year interest cost = $64,525 + $111,695 = $176,220

Therefore, we have:

                                                         Interest Cost

Long term fixed-rate plan                   $195,800

Short term variable-rate                      $176,220

B. Which plan is less costly?

Since the total two-year interest cost under short term variable-rate of  $176,220 is less than $195,8000 total two-year interest cost under long term fixed-rate plan, the Short-term variable-rate plan is therefore less costly.

6. ABC Company announced today that it will begin paying annual dividends next year. The first dividend will be $0.10 a share. The following dividends will be $0.20, $0.30, $0.40, and $0.50 a share annually for the following 4 years, respectively. After that, dividends are projected to increase by 2.0 percent per year. How much are you willing to pay to buy one share of this stock today if your desired rate of return is 8.0 percent

Answers

Answer:

The amount willing to pay to buy one share is $6.92.

Explanation:

The announcement by company to pay annual dividend = $0.10

2nd year divident amount = $0.20

3rd year divident amount = $0.30

4th year divident amount = $0.40

5th-year divident amount = $0.50

The increase in dividend = 2 percent.

The desired rate of return = 8%

Value after year 5 = (D5 × Growth rate) / (Required rate-Growth rate)

=(0.5 × 1.02) / (0.08-0.02)

=8.5

Therefore, the current value = Future dividend and value × Present value of discounting factor(rate%,time period)

=0.1/1.08 + 0.2/1.08^2 + 0.3/1.08^3 + 0.4/1.08^4 + 0.5/1.08^5 + 8.5/1.08^5

=$6.92.

Dividends are expected to grow at 25% per year during the next three years, 15% over the following year and then 6% per year indefinitely. The required return on this stock is 9% and the stock currently sells for $79 per share. What is the projected dividend for the second year

Answers

Answer:

$1.56

Explanation:

Lets assume the dividend paid for year zero is $1. The growth for the first  3 years is 25% which is given in the question. Now we will find the value of the Projected dividend for year 2 using the compounding formula, as under:

The Projected dividend for year 1 = $1 * (1 + 25%)^ 2 years = $1.56

According to the liquidity premium theory of the term structure of interest rates, if the one-year bond rate is expected to be 4%, 5%, and 6% over each of the next three years, what is the interest rate on a three-year bond if the liquidity premium on a three-year bond is 0.5%

Answers

Answer:

Interest rate on the a three year bond =5.5%

Explanation:

one-year bond rate expected = 4%, 5%, 6% for the next three years

liquidity premium on a three year bond = 0.5%

number of years = 3

The interest rate on the a three year bond can be calculated as

= liquidity premium + ( summation of bond rates for the next three years/number of years )

= 0.5 + ( (4+5+6)/3)

= 0.5 + ( 15/3)

= 0.5 + 5  = 5.5%

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:
Fixed Cost Cost per
per Month Car Washed
Cleaning supplies $0.80
Electricity $1,200 $ 0.15
Maintenance $0.20
Wages and salaries $5,000 $0.30
Depreciation $6,000
Rent $8,000
Administrative
expenses $4,000 $0.10
For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expected to wash 9,000 cars in August and to collect an average of $4.90 per car washed.
The actual operating results for August appear below.
Lavage Rapide
Income Statement
For the Month Ended August 31
Actual cars washed 8,800
Revenue $43,080
Expenses:
Cleaning supplies 7,560
Electricity 2,670
Maintenance 2,260
Wages and salaries 8,500
Depreciation 6,000
Rent 8,000
Administrative expenses 4,950
Total expense 39,940
Net operating income $3,140
Required:
Compute the company's revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Answers

Answer and Explanation:

The computation of the company's revenue and spending variances for August is shown below:-

                                       Lavage Rapide

                           Revenue and Spending Variances

                               For the Month Ended August

Particulars               Actual   Revenue and Spending    Flexible Budget

                                  Results              Variances

Actual Cars

Washed                    8,800    

Revenue                  $43,080           $40  U                      $43,120

Less:

Expenses    

Cleaning Supplies  $7,560             $520  U                     $7,040

Electricity                 $2,670             $150 U                       $2,520

Maintenance           $2,260             $500 U                       $1,760

Wages and

Salaries                   $8,500              $860 U                     $7,640

Depreciation          $6,000               0                               $6,000

Rent                        $8,000               0                               $8,000

Administrative

Expenses               $4,950              $70 U                       $4,880

Total Expense        $39,940           $2,100 U                  $37,840

Net Operating

Income                   $3,140               $2,140 U                   $5,280

We simply deduct all expenses from the revenue generated so that the net operating income could arrive

The Lavage Rapide's Revenue and Spending Variances for August are computed as follows:

Income Statement for August

                                                   Actual Budget    Flexible Budget   Variance

Actual cars washed                           8,800                  8,800

Revenue                                        $43,080               $43,120              $40 U

Expenses:

Cleaning supplies                           $7,560                $7,040            $520  U

Electricity                                           2,670                 2,520              $150  U

Maintenance                                    2,260                   1,760             $500  U

Wages and salaries                         8,500                  7,640             $860  U

Depreciation                                    6,000                 6,000                $0 None

Rent                                                  8,000                 8,000                $0 None

Administrative expenses                4,950                 4,880                $70  U

Total expense                             $39,940            $37,840            $2,100  U

Net operating income                 $3,140              $5,280            $2,140  U

Data and Calculations:

Budgeted cars to wash in August = 9,000

Flexible budget = 8,800

Average price per car wash = $4.90

Total budgeted flexible revenue = $43,120 (8,800 x $4.90)

                                Fixed Cost         Cost per         Flexible

                                per Month       Car Washed      Budget

Cleaning supplies                              $0.80            $7,040 ($0.80 x 8,800)

Electricity                    $1,200            $ 0.15            $2,520 ($1,200 + $0.15 x 8,800)

Maintenance                                     $0.20             $1,760 ($0.20 x 8,800)

Wages and salaries  $5,000           $0.30            $7,640 ($5,000 + $.30 x 8,800)

Depreciation             $6,000                                 $6,000

Rent                          $8,000                                  $8,000

Administrative

expenses                 $4,000             $0.10            $4,880 ($4,000 + $0.10 x 8,800)

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The journal entry to record the transfer of 1,600 units of part number 1177 with a value of $2.50 each, to work in process is Group of answer choices Work in Process 4,000 Materials 4,000 Work in Process 4,000 Factory Overhead 4,000 Work in Process 4,000 Cash 4,000 Materials 4,000 Work in Process 4,000

Answers

Answer:

The correct option is:

Work in Process 4,000 Materials 4,000

Explanation:

The total cost of the part= $2.50*1,600 units

The total cost of the part=$4,000

Going by the rule of the double which requires receiving account to debited while giving account is credited, we debit work-in-process with $4,000 while materials(inventory in the balance sheet) is credited with the same amount of $4,000.

Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March. Units Costs Beginning work in process inventory 2,000 Beginning work in process inventory Started 20,000 Direct materials $ 2,500 Ending work in process inventory 5,000 Conversion 6,360 $ 8,860 Status of ending work in process inventory Direct materials added 168,000 Materials—Percent complete 100 % Direct labor added 199,850 Conversion—Percent complete 35 % Overhead applied (140% of direct labor) 279,790 Total costs to account for $ 656,500 Ending work in process inventory $ 84,110 Prepare a process cost summary report for this company showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Answers

Answer: kindly check attached picture

Explanation:

Production activities for MARCH:

Beginning work in process inventory = 2000

Units started in March = 20,000

Therefore, total units to account for :

(2,000 + 20,000) units = 22,000 units

Total units transferred out :

Total units to account for - Ending work in process:

(22,000 - 5,000) units = 17,000 units

Check attached picture for further explanation

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