Answer:
Communication is the act of giving, receiving, and sharing information in other words, talking or writing, and listening or reading. Good communicators listen carefully, speak or write clearly, and respect different opinions.
Explanation:
have a nice day T_T
Castle Corporation conducts business in States 1, 2, and 3. Castle’s $630,000 taxable income consists of $555,000 apportionable income and $75,000 allocable income generated from transactions conducted in State 3. Castle’s sales, property, and payroll are evenly divided among the three states, and the states all employ a three-equal-factors apportionment formula.
Determine how much of Castle’s income is taxable in each of the following states.
a. State 1: $ _________
b. State 2: $ _________
c. State 3: $ _________
Answer and Explanation:
The computation of the taxable income in each states is shown below:
a. For state 1
= Apportionable income ÷ number of states
= $555,000 ÷ 3
= $185,000
b. For state 2
= Apportionable income ÷ number of states
= $555,000 ÷ 3
= $185,000
c. For state 3
= $185,000 + $75,000
= $260,000
If The Wall Street Journal lists a stock's dividend as $1, then it is most likely the case that the stock: Multiple Choice pays $1 per share per quarter. paid $.25 per share per quarter for the past year. paid $1 during the past quarter, with no future dividends forecast. is expected to pay a dividend of $1 per share at the end of next year.
Answer:
paid $.25 per share per quarter for the past year
Explanation:
A stock is ownership rights purchased by investors in a public company. Holders of stock are called stockholders and they are regarded as owners of the company.
Stockholders are paid dividends. Dividends are a proportion of a company's profits paid to shareholders.
If the stock's dividend is $1, it means it either paid $1 the past year or paid $.25 per share per quarter for the past year
The following note transactions occurred during the year for Towell Company: Nov. 10 Towell issued a 90-day, 9% note payable for $8,000 to Hyatt Company for merchandise. Dec. 1 Towell signed a 120-day, 10% note at the bank for $12,000. Dec. 20 Towell gave Barr, Inc., a 60-day, 10%, $12,000 note for payment of account. Prepare the general journal entries necessary to adjust the interest accounts at December 31. Use 360 days for calculations and round to the nearest dollar.
Answer: See explanation
Explanation:
The general journal entries necessary to adjust the interest accounts at December 31 will be:
1. December 31:
Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102
Credit: Interest payable = $102
(To accrue interest expenses for the note issued on November 10).
2. December 31:
Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120
Credit: Interest payable = $120
(To accrue interest expenses for the note issued on December 1)
3. December 31:
Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67
Credit: Interest payable = $36.67
(To accrue interest expenses for the note issued on December 20).
Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,400 models. During the month, the company completed 11,200 models, and transferred them to the Distribution Department. The company ended the month with 2200 models in ending inventory. There were 3000 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs.
Beginning inventory​:
Direct materials costs $20,000
Conversion costs $11,100
Manufacturing costs added during the accounting period​:
Direct materials costs $70,700
Conversion costs $240,500
What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of October?
a. $19,783
b. $20,337
c. $10,923
d. $14,916
Answer:
d. $14,916
Explanation:
Note that Jane Industries uses FIFO method of process costing.
Step 1 : Equivalent Units in respect of materials
Materials = 3,000 x 0 % + 8,200 x 100% + 2,200 x 100%
= 10,400 units
Step 2 : Cost per Equivalent unit in respect of materials
Cost per Equivalent = $70,700 ÷ 10,400 units
= $6.80
Step 3 : direct materials cost assigned to ending work-in-process
Ending work-in-process (Materials Cost) = 2,200 x $6.80
= $14,960
Organizations face myriad barriers and obstacles to effectively increasing and embracing diversity in their workplaces. Some of these barriers stem from people in the organization who are resistant to changing the organization to make it more diverse. This activity is important because resistance to this type of change is an attitude that managers will come up against frequently, and managers should be able to recognize when this occurs so that they can manage the organization and its employees through this challenging but very important type of change.
The goal of this exercise is to challenge your knowledge of the barriers to diversity.
Stereotypes and Prejudices
Fear of Discrimination Against Majority Group Members
Resistance to Diversity Program Priorities
A Negative Diversity Climate
Lack of Support for Family Demands
A Hostile Work Environment for Diverse Employees
First, hover over the terms to read examples of barriers to diversity in action. Then, click and drag each term to indicate the specific barrier to diversity its example best depicts.
Answer:
Stereotypes
- Resistant to diversity program priorities
- Lack of support for family demands
Prejudices
- Fear of discrimination against majority group members
- A negative diversity climate
- A hostile work environment for diverse employees
Explanation:
Examples for stereotypes and prejudices are given below
Stereotypes
- Resistant to diversity program priorities
- Lack of support for family demands
Prejudices
- Fear of discrimination against majority group members
- A negative diversity climate
- A hostile work environment for diverse employees
Sage Company began operations at the beginning of 2021. The following information pertains to this company.
1. Pretax financial income for 2021 is $87,000.
2. The tax rate enacted for 2021 and future years is 20%.
3. Differences between the 2021 income statement and tax return are listed below:
a. Warranty expense accrued for financial reporting purposes amounts to $6,600. Warranty deductions per the tax return amount to $1,900.
b. Gross profit on construction contracts using the percentage-of-completion method per books amounts to $84,500. Gross profit on construction contracts for tax purposes amounts to $66,300.
c. Depreciation of property, plant, and equipment for financial reporting purposes amounts to $57,900. Depreciation of these assets amounts to $84,300 for the tax return.
d. A $3,200 fine paid for violation of pollution laws was deducted in computing pretax financial income.
e. Interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500.
4. Taxable income is expected for the next few years. (Assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.)
Required:
a. Compute taxable income for 2021.
b. Compute the deferred taxes at December 31, 2021, that relate to the temporary differences described above.
c. Prepare the journal entry to record income tax expense
Answer:
Answer is explained in the explanation section below.
Explanation:
Solution:
a. Taxable income for 2021.
Sage Company:
Computation of Taxable income and income tax for 2021
Pretax financial Income = $87000
Permanent differences:
Fine for Pollution = $3200
Interest revenue on municipal bonds = -$1500
Temporary differences:
Less: Excess of depreciation as per tax over books = -$26400
Add: Warranty expense in books higher than as per tax = $4700
Less: Gross profit as per books higher than as per tax on construction contracts = -$18200
Taxable Income = $48800
Income Tax (20%) = $9760
b. Deferred Taxes:
Deferred tax assets = $4700*20% = $940
Deferred tax liability = ($26,400 + $18,200) * 20% = $8920
c. Note: Journal Entries are attached in the attachment below.
Chen Company's Small Motor Division manufactures a number of small motors used in household and office appliances. The Household Division of Chen then assembles and packages such items as blenders and juicers. Both divisions are free to buy and sell any of their components internally or externally. The following costs relate to small motor LN233 on a per unit basis.
Fixed cost per unit $5.20
Variable cost per unit $10.81
Selling price per unit $34.55
Assuming that the Small Motor Division has excess capacity, compute the minimum acceptable price for the transfer of small motor LN233 to the Household Division. (Round answer to 2 decimal places.)
Minimum transfer price $ per unit
Assuming that the Small Motor Division does not have excess capacity, compute the minimum acceptable price for the transfer of the small motor to the Household Division. (Round answer to 2 decimal places.)
Answer:
See below
Explanation:
1. If the small motor division has excess capacity,
Minimum transfer price = Variable cost + Opportunity cost
Variable cost per unit = $10.81
Add:
Opportunity cost per unit = $0.00 (Because the company has sufficient excess capacity)
Minimum transfer price = $10.81
2. If the small motor division has excess capacity,
Minimum transfer price = Variable cost + Opportunity cost
Variable cost per unit = $10.81
Add:
Opportunity cost per unit = $23.74 (As the company has no excess capacity, contribution lost is the opportunity cost)
Minimum transfer price = $34.55
N.B
Contribution lost = Selling price per unit - Variable cost per unit
= $34,55 - $10.8 = $23.74
Times-Roman Publishing Company reports the following amounts in its first three years of operation: ($ in thousands) 2021 2022 2023 Subscription revenue recognized (earned) $ 350 $ 360 $ 320 Subscription payments received in cash 390 340 360 The difference between pretax accounting income and taxable income is due to subscription revenue for one-year magazine subscriptions being reported for tax purposes in the year received, but reported in the income statement in later years when the performance obligation is satisfied. The income tax rate is 25% each year. Times-Roman anticipates profitable operations in the future. Required: 1. What is the balance sheet account that gives rise to a temporary difference in this situation
Answer: Unearned subscription revenue.
Explanation:
Tax is made on a cash basis which means that a transaction is eligible for taxation once cash has been paid for it. Businesses however have to use the Accrual basis which only record transactions in the period that they have been incurred.
In this scenario, there is more subscription payment in cash than the company recognized which means that the company has not yet delivered the service they were paid for and so could not recognize the subscriptions. They will however be taxed on those amounts because the cash has come in.
The account giving this temporary difference is therefore the Unearned Subscription Revenue account.
Negotiations often involve three types of issues. For ______________ issues, the parties' preferences are directly opposed. For ______________ issues, the parties have directionally-opposed preferences but value the issues differently. For ______________ issues, the parties have the same preferences.
Answer:
1. Distributive issues
2. Integrative issues
3. Congruent issues
Explanation:
Typically, for every negotiation process, any of the three kinds of issues are involved, this includes the following distributive, congruent, and integrative issues.
Hence, Negotiations often involve three types of issues. For DISTRIBUTIVE issues, the parties' preferences are directly opposed. For INTEGRATIVE issues, the parties have directionally-opposed preferences but value the issues differently. For CONGRUENT issues, the parties have the same preferences.
For DISTRIBUTIVE issues, the parties' preferences are directly opposed.
For INTEGRATIVE issues, the parties have directionally-opposed preferences but value the issues differently.
For CONGRUENT issues, the parties have the same preferences.
What is a Negotiation?A Negotiation refers to method through which parties settle their differences and in reaching an agreement.
Generally, for every negotiation process, any of the three kinds of issues are involved, this includes the following distributive, congruent, and integrative issues.
Read more about Negotiation
brainly.com/question/902450
A firm' s sales procedure involves preparing sales invoices based on shipping documents; posting the sales amounts to accounts receivable records; and posting quantities billed to the inventory records. Due to control weaknesses in the procedure, certain goods that are shipped may not be reflected in the sales invoices. The exposure from this risk can result in:
Answer: understatement of revenues and receivables and over statement of inventory
Explanation:
Control weakness simply refers to the failure by a company to implement the internal controls. Based on the information given, the exposure from this risk can result in understatement of revenues and receivables and over statement of inventory.
There'll be understatement of revenue and receivables since sales is not recorded while the inventory will be overstated.
The Fabricating Department started the current month with a beginning Work in Process inventory of $10,900. During the month, it was assigned the following costs: direct materials, $76,900; direct labor, $24,900; and factory overhead, 70% of direct labor cost. Also, inventory with a cost of $113,500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is: Group of answer choices $83,461. $196,961. $68,030. $16,630. $112,700.
Answer:
Ending Work in Process $16,630
Explanation:
The computation of the ending balance of the work in process inventory is shown below:
Beginning Work in process $10,900
Add: Manufacturing Costs
Direct Materials $76,900
Direct Labor $24,900
Factory Overhead $17,430 (70% of $24,900)
Less: Cost of goods manufactured ($113,500)
Ending Work in Process $16,630
Setting and achieving goals is essential to success.
a. True
b. False
Answer: True
Explanation:
The statement that "Setting and achieving goals is essential to success" is true.
When we set goals, it gives us a motivation for the short term and also a long term vision. Setting goals doesn't allow us to deviate from whatever we want to achieve. Our time and resources are dedicated towards achieving that set goal.
Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended: Actual units produced: 14,800 Actual fixed overhead incurred: $791,000 Standard fixed overhead rate: $13 per hour Budgeted fixed overhead: $780,000 Planned level of machine-hour activity: 60,000 If Approach estimates four hours to manufacture a completed unit, the company's fixed-overhead volume variance would be: Multiple Choice $10,400 negative. $10,400 positive. $11,000 negative. $11,000 positive. None of the answers is correct.
Answer:
$11,000 unfavorable
Explanation:
Calculation to determine the company's fixed-overhead volume variance would be:
Actual fixed overhead incurred ($791,000)
Less Budgeted fixed overhead ($780,000)
Fixed-overhead volume variance $11,000 unfavorable
Therefore the company's fixed-overhead volume variance would be: $11,000 unfavorable
Henry Ford is known for the introduction of the assembly line and the Model T. As his manufacturing effort expanded, however, he also adopted an attitude that came to be known as Fordism. What was one of the central tenets in his system?
Answer:
Fordism, a specific stage of economic development in the 20th century. Fordism is a term widely used to describe (1) the system of mass production that was pioneered in the early 20th century by the Ford Motor Company or (2) the typical postwar mode of economic growth and its associated political and social order in advanced capitalism.
Explanation:
Good luck
Which of the following industries is most likely to outsource jobs to another country because of slight increases in labor costs?
a. Milk dairy.
b. High-tech research facility.
c. Textile plant.
d. Automobile assembly plant.
Which of the following industries is most likely to outsource jobs to another country because of slight increases in labor costs?
a. Milk dairy.
b. High-tech research facility.
c. Textile plant.
d. Automobile assembly plant.
Answer: c. Textile plant.
Hope this helps
Assume you gave up a $60,000 per year job at an accounting firm to start your own tax preparation business. To simplify, assume your tax personal obligations are the same whether you run your own firm or work for another firm. If your revenue during the first year of business is $75,000, and you incurred $5,000 in expenses for equipment and supplies, how much is your accounting profit
Answer:
Accounting profit= $70,000
Explanation:
Giving the following information:
If your revenue during the first year of business is $75,000, and you incurred $5,000 in expenses for equipment and supplies, how much is your accounting profit
The accounting profit does not include the opportunity cost of leaving the accounting job. In this case, the accounting profit is:
Accounting profit= revenue - costs
Accounting profit= 75,000 - 5,000
Accounting profit= $70,000
On average, your firm receives 65 checks a day from customers. These checks, on average, are worth $39.90 each and clear the bank in 1.5 days. In addition, your firm disburses 38 checks a day with an average amount of $89.50. These checks clear your bank in 2 days. What is the average amount of the collection float? $2,473.80 $3,401.00 $3,890.25 $5,101.50 $6,802.00
Answer:
$3,890.25
Explanation:
Calculation to determine the average amount of the collection float
Using this formula
Collection float =Average Checks received ×Average checks worth×Bank checks clearing numbers of days
Let plug in the formula
Collection float =65 x $39.90 x 1.5 days
Collection float = $3,890.25
Therefore the average amount of the collection float will be $3,890.25
Answer each of the following independent questions. Required: Alex Meir recently won a lottery and has the option of receiving one of the following three prizes: (1) $88,000 cash immediately, (2) $34,000 cash immediately and a six-period annuity of $9,300 beginning one year from today, or (3) a six-period annuity of $18,400 beginning one year from today. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1.1 Assuming an interest rate of 7%, determine the PV value for the above options.
1.2 Which option should Alex choose? Option (1) Option (2) Option (3)
2. The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2022. Weimer will make annual deposits of $175,000 into a special bank account at the end of each of 10 years beginning December 31, 2013. Assuming that the bank account pays 8% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2022?
Table of calculation function?
Payment?
N?
I?
Future value?
Answer:
option 1
$4,056,237.49
Explanation:
To determine the better option, we have to determine the present value of options 2 and 3
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
option 2
Cash flow in year 0 = $34,000
Cash flow in year 1 to 6 = $9,300
I = 7 %
PV = 78,328.82
Option 2
Cash flow in year 1 to 6 = $$18,400
I = 7 %
PV = 87704.33
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
It is the first option that has the highest value
The formula for calculating future value = A / annuity factor
Annuity factor = {[(1+r) n] - 1} / r
P = Present value
R = interest rate
N = number of years
Please Help~!!!!
Name one thing you're afraid of when you think of college and career.
Elizabeth reports the following items for the current year: Nonbusiness capital gains $ 5,000 Nonbusiness capital losses (3,000) Interest income 3,000 Itemized deductions (including a $20,000 casualty loss in a Federal disaster area) (27,000) In calculating Elizabeth's net operating loss and with respect to these amounts only, what amount must be added back to taxable income (loss)
Answer: $2000
Explanation:
In calculating Elizabeth's net operating loss and with respect to these amounts only, the amount that must be added back to taxable income (loss) will be the difference between the nonbusiness capital gains and the nonbusiness capital losses. This will be:
= $5000 - $3000
= $2000
Sunland purchased the license for distribution of a popular consumer product on January 1, 2020, for $158,000. It is expected that this product will generate cash flows for an indefinite period of time. The license has an initial term of 5 years but by paying a nominal fee, Sunland can renew the license indefinitely for successive 5-year terms. What amount should be amortized for the year ended December 31, 2020
Answer:
No amount should be amortized since the license can be renewed indefinitely for successive 5-year terms.
Instead, the license should be tested for impairment annually to determine impairment loss.
Explanation:
An intangible asset that can be used indefinitely is treated like purchased Goodwill. It should never be amortized. Annually, the asset should be tested for impairment. The test is to compare the market value of the license with the book value.
Rainey Company's true cash balance at October 31 is $4,700. The following information is available for the bank reconciliation: Outstanding checks, $740 Deposits in transit, $540 Bank service charges, $110 The bank had collected an account receivable for Rainey Company, $1,200 The bank statement included an NSF check written by one of Ramsey's customers for $720. What was the unadjusted book balance at October 31
Answer: $4330
Explanation:
The unadjusted book balance at October 31 is calculated below:
True cash balance = $4700
Add: Bank service charge = $110
Add: NSF Check = $720
Less: Account receivable = $1200
Unadjusted book balance = $4330
A publishing house is using 400 printers and 200 printing presses to produce books. The printers' wage rate is $20 and the price of a printing press is $100. The last printer added 20 books to total output, while the last press added 50 books to total output. In order to maximize the number of books published with a budget of $28,000, the publishing house
Answer:
The publishing house is not using cost minimizing combination of printers and printing press.
Explanation:
The publishing house go towards more of printers and less of printing press because the cost of printing price is almost three times higher than the cots of printers. Also the output of printing press is lower and the output of printers is almost double. The publishing house should use such a combination of both the available resources which maximizes its revenue.
Both __________ and __________ affect the awareness and motivation of a firm to undertake actions and responses. a. first-mover advantages; corporate size b. market commonality; resource similarity c. management capabilities; competitive analysis d. speed of management decisions; management actions
Answer:
b. market commonality; resource similarity
Explanation:
The two things that can impact the awareness and the motivation so that the firm could take the actions and responses is that the market commodity where the company deals with and the similarity of the resources. These two things would be required that can impact the awareness and the motivation level of the firm
hence, the option b is correct
John received a promotion at work and felt new clothes would be necessary in the new position. John went to a local store and charged three ties on his charge account at a cost of $60 each. Bill, a friend of John's, saw a sidewalk vendor selling ties at a cost of three for $10 and bought three at that price. The friends compared purchases that night and found that they had purchased identical ties. John became enraged and said that he would not pay the charge-account bill because the ties were clearly not worth $60 each. Bill indicated that he would testify on John's behalf if litigation ensued. What would be the probable outcome of the lawsuit
Answer:
John will lose the lawsuit
Explanation:
Businesses have a right to set the price of their products, and when the customers considers the price and agrees with it the deal is sealed.
In the given scenario John made the purchase at $60 per tie and he was satisfied with the sale at point of purchase.
He only became enraged when Bill told him he bought his identical ties at $10.
John will lose a lawsuit of he fails to pay the charge-account bill because he willingly agreed to the $60 per tie price.
An investor thought that market interest rates were going to decline. He paid $19,000 for a corporate bond with a face value of $20,000. The bond has an interest rate of 10% per year payable annually. If the investor plans to sell the bond immediately after receiving the 4th interest payment, how much will he have to receive in order to make a return of 14% per year? Solve using:
a. tabulated factors
b. the GOAL SEEK tool on a spreadsheet.
Answer:
Answer is explained in the explanation section below.
Explanation:
a. In this part, we need to calculate the present worth using the formula to calculate the sale price of the bond.
As the coupon rate = 10% per year
So,
The Annual dividend will = 2000 = 10% x 20,000
19000 = 2000 (P/A, 14%,4) + B(P/F,14%,4)
19000 = 2000 (2.9137) + B (0.592)
Solving for B = Desired sales price of the bond
B = [tex]\frac{19000 - 5827.4}{0.592}[/tex]
B = 22251
b. Part b of this question is to solve using GOAL SEEK feature of a spreadsheet so, I have attached it in the attachment. Please refer to the attachment for the solution of part b.
Suppose a firm produces with a technology that exhibits constant returns to scale at all levels of production. The firm's inputs are workers and laptops. The firm sells its output in a perfectly competitive market. It also hires its inputs (hires workers and rents laptops) in perfectly competitive markets. Assume that in the long run the firm produces y units of output using x1 workers and x2 laptops. If the firm doubles the amount of workers and laptops (using 2x1 and 2x2), we would expect the firm's long-run profits to
Answer:
Not change
Explanation:
In the long run we expect firms to earn zero profits. With competitive markets for both inputs and output, and with constant returns to scale, a doubling of all inputs would lead to twice as much output, twice as much revenue, and twice as much cost.
On January 1, Alan King decided to deposit $58,800 in a savings account that will provide funds four years later to send his son to college. The savings account will earn 8% annually. Any interest earned will be added to the fund at year-end (rather than withdrawn). (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Required:
Answer:
FV= $79,996.75
Explanation:
Giving the following information:
Initial investment (PV)= $58,800
Interest rate (i)= 8% compounded annually
Number of periods (n)= 4 years
To calculate the future value (FV), we need to use the following formula:
FV= PV*(1+i)^n
FV= 58,800*(1.08^4)
FV= $79,996.75
The amount of money that is earned on a deposit is
Explanation:
principal ...............
Answer:
Interest
Explanation:
interest is the amount that is earned on a deposit
Setrakian Industries needs to raise $48.5 million to fund a new project. The company will sell bonds that have a coupon rate of 5.56 percent paid semiannually and that mature in 10 years. The bonds will be sold at an initial YTM of 6.13 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds
Answer:
25,317 unit
Explanation:
Current price of bond = PV(Rate, Nper, Pmt, Fv)
Current price of bond = PV(6.13%/2, 10*2 ,5.56%/2*2000, 2000)
Current price of bond = $1,915.71
Number of bonds to issue = $48,500,000 / $1,915.71
Number of bonds to issue = 25316.98430
Number of bonds to issue = 25,317 unit