Answer:
$3.09
Explanation:
dividend in 5 years = dividend x ( + growth rate)^5
dividend yield = dividend / price
0.07 = dividend / 30
dividend = 30 x 0.07 = 2.1
2.1 x (1.08)^5 = 3.09
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.9pounds Standard price$14.70per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,050pounds Actual cost of materials purchased$64,380 Actual materials used in production 6,550pounds Actual output 850units The direct materials purchases variance is computed when the materials are purchased. What is the materials quantity variance for the month
Answer:
Usage variance = $22,564.5 unfavorable
Explanation:
A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite
Pounds
850 units should have used ( 850× 5.9 pounds) 5,015
but did use 6,550
Usage variance 1,535 unfavorable
× standard price $14.70
Usage variance 22,564.5 unfavorable
Usage variance = $22,564.5 unfavorable
At Kelly's company there have been an abnormal amount of on-site accidents
from falls. She has seen the effects that these accidents can have on those
who have been injured. What is the best way for Kelly to prevent herself from
having an accident?
A. Move as quickly as possible to get through the work day
B. Make sure she moves about carefully at the workplace
C. Tell her supervisor that she doesn't feel safe
D. Get hurt on purpose so that she can blame her employer
SUBMIT
Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before recording any Federal net deferred tax asset or net deferred tax liability.
Tax Debit/(Credit) Book Debit/(Credit)
Assets Cash $500 $500
Accounts receivable 8,000 8,000
Buildings 750,000 750,000
Accumulated depreciation (450,000) (380,000)
Furniture and fixtures 70,000 70,000
Accumulated depreciation (46,000) (38,000)
Total assets $332,500 $410,500
Liabilities Accrued litigation expense $0 ($50,000)
Note payable (78,000) (78,000)
Total liabilities ($78,000) ($128,000)
Stockholders' Equity Paid-in capital ($10,000) ($10,000)
Retained earnings (244,500) (272,500)
Total liabilities and stockholders' equity ($332,500) ($410,500)
Based on this information, determine Relix's net deferred tax asset or net deferred tax liability at year end. Assume a 21% Federal corporate tax rate and no valuation allowance.
Answer:
($3,528)
Explanation:
Calculation to determine Relix's net deferred tax asset or net deferred tax liability at year end.
Beginning of the Year Current year difference End of Year
Building-Accumulated depreciation
($57,000) ($13,000) ($70,000)
($57,000-$70,000=-$13,000)
Furniture and fixtures-Accumulated Depriciation ($4,200) ($3,800) ($8,000)
($4,200-$8,000=$3,800)
Subtotal ($61,200) ($16,800) ($78,000)
($57,000+$4,200=$61,200)
($13,000+$3,800=$16,800)
($70,000+$8,000=$78,000)
Applicable tax rate 21% 21% 21%
Gross deferred tax liability
($12,852) ($16,380)
(21%*$61,200=$12,852)
(21%*$78,000=$16,380)
Change in deferred tax liability ($3,528)
(21%*$16,380)
Therefore net deferred tax liability at year end is ($3,528)
Bacchus Enterprises has $12B in book value of common stock selling at a book to market rate of 1.35 and a beta of 1.5. The combined preferred stock is valued at $8.5B with a beta of 1.23. The restructured debt has a book value of $4.8B in book value and has a coupon of 6%, maturing in 9 years, and selling at 102.5%. The market is doing quite well and is returning 14% with a risk free asset returning 4%. What is the Cost of Preferred Stock
Answer: 16.3%
Explanation:
Given the details in the question, the cost of preferred capital can be calculated using the CAPM method.
Cost of preferred stock using the Capital Asset Pricing Model is:
= Risk free rate + Beta * ( Market return - Risk free rate)
= 4% + 1.23 * (14% - 4%)
= 16.3%
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land
Answer:
the amount that company should record the land is $97,600
Explanation:
The computation of the amount that company should record the land is shown below:
The Amount should be recorded for land is
= Purchase price + Commission + Property tax paid on behalf of seller + Title insurance
= $82,000 + $8,000 + $5,400 + $2,200
= $97,600
hence, the amount that company should record the land is $97,600
goals
security
liquidity
interest
emergencies
save
The future value of today’s savings is measured by the______
_ earned on what was saved.
Answer:
interest
Explanation:
The correct option is - interest
Reason -
Future value is the value of an asset at a specific date.
It measures the nominal future sum of money that a given sum of money is "worth" at a specified time in the future assuming a certain interest rate, or more generally, rate of return.
John invests a total of 10,000. He purchases an annuity with payments of 1,000 at the beginning of each year for 10 years at an effective annual interest rate of 8%. As annuity payments are received, they are reinvested at an effective annual interest rate of 7%. The remaining balance of the 10,000 is invested in a 10-year certificates of deposit with a nominal annual interest rate of 9%, compounded quarterly. Calculate the annual effective yield rate on the entire 10,000 investment over the 10-year period.
Answer:
7.95%
Explanation:
the first step is to determine the present value of the 10 year annuity
[tex]1000\frac{(1 + 0.08)(1 - (1 - 0.08)^{-10} }{0.08}[/tex] = 7246.89
remaining balance of the 10,000 is invested in a 10-year certificates of deposit = 10,000 - 7246.89 = $2753.11
We would calculate the future value of this amount
The formula for calculating future value:
FV = P (1 + r/m)^mn
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
$2753.11 x ( 1 + 0.09/4)^(4 x 10) = 6704.34
calculate the value of reinvestments
[tex]1000\frac{(1 + 0.07) ( 1 + 0.07)^{10} - 1 }{0.07}[/tex] = 14783.60
14783.60 + 6704.34 = 10,000 ( 1 + er)^10
er = 0.0795 = 7.95%
Briarwood Company enters into a lease for the use of a new piece of equipment. The term of the lease is 3 years, and Briarwood estimates the economic life of the equipment to be 4 years. The present value of the lease payments is $58,000. The lease is considered a finance lease. The journal entry to record the initial transaction will include a
Answer:
Dr. Right of use asset $58,000; Cr. Lease liability $58,000
Explanation:
Journal entry
Date General Journal Debit Credit
Right of use of asset $58,000
Lease Liability $58,000
(Entry to record the initial transaction)
Lucy sells her partnership interest, a passive activity, with an adjusted basis of $305,000 for $330,000. In addition, she has current and suspended losses of $28,000 associated with the partnership and has no other passive activities. a. Calculate Lucy's total gain and her current deductible loss. Her total gain is $fill in the blank 1 and her deductible loss is $fill in the blank 2 . b. What type of income can the deductible loss offset
Answer:
A. $25,000 gain
B. ($3,000)
Explanation:
A. Calculation to determine Lucy's total gain
Amount realized $330,000
Less Adjusted basis ($305,000)
Total gain $25,000
($330,000-$305,000)
Therefore Lucy's total gain is $25,000
B. Calculation to determine her current deductible loss.
Amount realized $330,000
Less Adjusted basis ($305,000)
Total gain $ 25,000
($330,000-$305,000)
Less Suspended losses ($28,000)
Not passive Deductible loss ($3,000)
($25,000-$28,000)
Therefore her current deductible loss is ($3,000)
On March 1, 2020, the Teal Company received a $45,000 payment for annual magazine subscriptions (the subscriptions run from the March, 2020 edition through the February 2021 edition). Upon receipt of the payment, Teal Company credited the amount to sales revenue. Provide any entries necessary to correctly state sales revenue on the 2020 income statement. Show your computation.
Answer:
The company has incorrectly credited the sales revenue account at the time of the receipt of payment. So, the journal entry to record the transaction is as follows:
Date Particulars Debit Credit
March 1, 20 Sales Revenue A/c $45,000
To Unearned Sales Revenue A/c $45,000
(To record Unearned sales revenue)
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
questions
Online Content: Site 1
Why might it be easier to open an account with a bank than a credit union?
Coronado Industries reported the following year-end information: Beginning work in process inventory $ 25000 Beginning raw materials inventory 9000 Ending work in process inventory 28000 Ending raw materials inventory 6000 Raw materials purchased 560000 Direct labor 210000 Manufacturing overhead 120000 How much is Coronado’s total cost of work in process for the year?
Answer:
$890,000
Explanation:
The computation of the total cost of work in process is shown below
But before that following calculations are needed
Cost of Raw material consumed = Beginning inventory + Raw material purchased - Closing inventory
= $9,000 + $560,000 - $6,000
= $563,000
And,
Cost of manufacturing = Cost of raw material consumed + Direct labor + Manufacturing overhead
= $563,000 + $210,000 + $120,000
= $893,000
Now
Cost of work in progress = Beginning WIP inventory - Ending WIP inventory + Cost of manufacturing
= $25,000 - $28,000 + $893,000
= $890,000
Copybold Corporation is a start-up company that has a capital structure with a debt/assets ratio equal to 0.75. Copybold has no preferred stock. There are two possible scenarios with respect to the firm's operations : Feast or Famine. The Feast scenario has a 60 percent probability of occurring, and the forecast earnings before interest and taxes (EBIT) in this scenario is $60,000. The Famine scenario has a 40 percent chance of occurring, and the EBIT is expected to be $20,000. Further, the firm's cost of debt is 12 percent. The firm has $400,000 in total assets, and its marginal tax rate is 40 percent. The company has 10,000 shares of stock outstanding. What is the difference between the earnings per share (EPS) forecasts for the Feast scenario and the Famine scenario
Answer:
The value of the difference between the earnings per share (EPS) forecasts for Feast and Famine is $2.40
Explanation:
The solution is as evident in the attached Excel Sheet. In the excel sheet the formulas are used which are also given in the second sheet.
For the data values from the question are used.
nventory Valuation under Absorption Costing and Variable Costing At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows: Direct materials $30 Direct labor 18 Fixed factory overhead 22 Variable factory overhead 14 Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept. Absorption costing $fill in the blank 1 Variable costing $fill in the blank 2
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
First, we will calculate the unitary and ending inventory cost under variable costing:
Unitary production cost= 30 + 18 + 14= $62
Ending inventory= 21,500*62= $1,333,000
Now, under the absorption costing:
Unitary production cost= 62 + 22= $84
Ending inventory= 21,500*84= $1,806,000
You founded your own firm three years ago. You initially contributed $200,000 of your own money and in return you received 3 million shares of stock. Since then, you have sold an additional 3 million shares of stock to angel investors. You are now considering raising capital from a venture capital firm. This venture capital firm would invest $6 million and would receive 3million newly issued shares in return. After the venture capitalist's investment, what percentage of the firm will you own
Answer:
33.33%
Explanation:
Own shares = $3,000,000
Angel shares = $3,000,000
Shares issued to venture capital = $3,000,000
Total shares = $9,000,000
% of the firm i will own = Own shares/Total shares
% of the firm i will own = $3,000,000/$9,000,000
% of the firm i will own = 0.333333333
% of the firm i will own = 33.33%
Answer:
28.57
Explanation:
Its right on the quiz
During the year, the following selected transactions affecting stockholders' equity occurred for Navajo Corporation: a. Feb. 1 Repurchased 160 shares of the company's own common stock at $25 cash per share. b. Jul. 15 Sold 90 of the shares purchased on February 1 for $26 cash per share. c. Sept. 1 Sold 60 of the shares purchased on February 1 for $24 cash per share.
Answer:
a. Dr Treasury stock $4,000
Cr Cash $4,000
b. Dr Cash $2,340
Cr Treasury stock $2,250
Cr Additional paid-in capital $90
c. Dr Cash $1,440
Dr Additional paid-in capital $60
Cr Treasury stock $1,500
Explanation:
Preparation of the journal entries
a. Dr Treasury stock $4,000
Cr Cash $4,000
(160*$25)
b. Dr Cash $2,340
(90*$26)
Cr Treasury stock $2,250
(90*$25)
Cr Additional paid-in capital $90
($2,340-$2,250)
c. Dr Cash $1,440
(60*$24)
Dr Additional paid-in capital $60
($1,500-$1,440)
Cr Treasury stock $1,500
(60*$25)
State the main responsibilities of a sales manager. Think about your own potential strengths and weaknesses as a sales manager. For each function (responsibiity), briefly state why you would enjoy or would not enjoy it, and whether you think you would be good at it and why you feel this way. Your response should be between 150 and 300 words.
Answer:
A sales manager has several responsibilities that, when performed effectively, are able to increase the profitability and positioning of a company in the market.
Explanation:
The sales area in an organization is one of the most important for a company to achieve its objectives and goals defined in strategic planning. The sales department's goal is to manage the sales process of a company's products and services according to its objectives. That is why the role of a sales manager is essential, it is he who will be responsible for managing, leading and building relationships with the sales team so that sales occur as planned.
So there are some responsibilities of the sales manager:
Create a sales planset sales goalsmonitor sales progressanalyze sales data and informationsupervise the sales teamEach role of the sales manager is essential for optimal coordination between the process and the company's objectives, so each step must be monitored and controlled in real time, correcting possible bottlenecks, ordering the objectives, motivating the sales team and seeking always the continuous improvement of processes.
Pierre, a cash basis, unmarried taxpayer, had $1,700 of state income tax withheld during 2020. Also in 2020, Pierre paid $425 that was due when he filed his 2019 state income tax return and made estimated payments of $1,190 towards his 2020 state income tax liability. When Pierre files his 2020 Federal income tax return in April 2021, he elects to itemize deductions, which amount to $17,450, including the state income tax payments and withholdings, all of which reduce his taxable income. a. What is Pierre's 2020 state income tax deduction
Answer:
$3,315
Explanation:
Calculation to determine Pierre's 2020 state income tax deduction
Using this formula.
2020 state income tax deduction=State income tax withheld+State income tax return amount due+State income tax liability
Let plug in the formula
2020 state income tax deduction=$1700+$425+$1190
2020 state income tax deduction=$3,315
Therefore Pierre's 2020 state income tax deduction is $3,315
Bricktan Inc. makes three products, basic, classic, and deluxe. The maximum Bricktan can sell is 721,000 units of basic, 468,000 units of classic, and 180,000 units of deluxe. Bricktan has limited production capacity of 114,000 hours. It can produce 10 units of basic, 8 units of classic, and 4 units of deluxe per hour. Contribution margin per unit is $15 for the basic, $25 for the classic, and $55 for the deluxe. What is the most profitable sales mix for Bricktan Inc.
Answer:
Profitable sales mix :
Deluxe - 180,000 units,
Classic - 58,500 units,
Basic- 365,000 units
Explanation:
When a business is faced with a problem of shortage of a resource which can be used to produced more than one product type, to maximize the use of the resource , the business should allocate the scare resource for production purpose in such a way that it maximizes the contribution per unit of the scare resource.
The labour hours required per unit of scarce resource=
Basic = 1/10 hr= 0.10
Classic =1/8 hr = 0.13
Deluxe= 1/4 hr = 0.25
Basic Classic Deluxe
Contribution per unit 15 25 55
Hour per unit 0.10 0.13 0.25
Contribution per hour 150 200 220
Product Unit Hours used
Deluxe 180,000 180000× 0.25 45,000
Classic 468,000 468,00× 0.13 58,500
Basic 365,000** 365,000×0.10 36,500*
Total hours 140,000
* = 140,000 - 45,000-58500= 36,500 hours
** = 36,500 hours/0.1 hour = 365,000 units
Units to be produced = 36,500/0.10= 365,000 units
Profitable sales mix :
Deluxe - 180,000 units,
Classic - 58,500 units,
Basic- 365,000 units
1. Cullumber Cosmetics acquired 13% of the 301,200 shares of common stock of Elite Fashion at a total cost of $14 per share on March 18, 2020. On June 30, Elite declared and paid a $70,100 dividend. On December 31, Elite reported net income of $226,500 for the year. At December 31, the market price of Elite Fashion was $15 per share.
2. Bramble Inc. obtained significant influence over Kasey Corporation by buying 25% of Kasey’s 32,700 outstanding shares of common stock at a total cost of $10 per share on January 1, 2019. On June 15, Kasey declared and paid a cash dividend of $31,600. On December 31, Kasey reported a net income of $116,000 for the year.
Required:
Prepare all the necessary journal entries for 2019 for Cullumber Cosmetics.
Answer:
1. 18-Mar
Dr Available for Sale Securities $548,184
Cr Cash $548,184
30-Jun
Dr Cash $9,113
Cr Dividend Revenue $9,113
31-Dec
Dr Securities Fair Value Adjustment $39,156
Cr Unrealized Holding Gain $39,156
2.1-Jan
Dr Investmeht in Nadal Corp. $81,750
Cr Cash $81,750
15-Jun
Dr Cash $7,900
Cr Investment in Nadal Corp. $7,900
31-Dec
Dr Investment in Nadal $29,000
Cr Revenue from Investment in Sub $29,000
Explanation:
1.Preparation of all the necessary journal entries for 2019
18-Mar
Dr Available for Sale Securities $548,184
Cr Cash $548,184
(13%*301,200*$14)
(To purchase 10% of Ramirez Fashion)
30-Jun
Dr Cash $9,113
Cr Dividend Revenue $9,113
(13%$70,100)
(To record a 13% dividend revenue $70,100)
31-Dec
Dr Securities Fair Value Adjustment $39,156
Cr Unrealized Holding Gain $39,156
[($15-$14)*13%*301,200]
(To adjust securities to FMV in an Equity account)
2.1-Jan
Dr Investmeht in Nadal Corp. $81,750
Cr Cash $81,750
(25%*32,700*$10)
(To purchase 25% of Nadal Corp.)
15-Jun
Dr Cash $7,900
Cr Investment in Nadal Corp. $7,900
(25%$31,600)
(To record cash dividend of $31,600)
31-Dec
Dr Investment in Nadal $29,000
Cr Revenue from Investment in Sub $29,000
(25%*$116,000)
(To record 25% revenue of $116,000 from Nada)
On July 1, 2018, Fred City ordered $1,500 of office supplies.They were to be paid for out of the general fund. Entry under:
Governmental fund financial statements Government-wide financial statements
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
B) No entry No entry
C) Dr. Encumbrances outstanding Dr. Encumbrances – Office supplies
Cr. Encumbrances – Office supplies Cr. Encumbrances outstanding
D) No entry Dr. Encumbrances outstanding
Cr. Encumbrances – Office supplies
a. Option 1
b. Option B.
c. Option C.
d. Option D.
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
NU YU announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $.31 a share. The following dividends will be $.36, $.51, and $.81 a share annually for the following three years, respectively. After that, dividends are projected to increase by 2.5 percent per year. How much are you willing to pay today to buy one share of this stock if your desired rate of return is 10 percent
Answer:
P0 = $9.0767092 rounded off to $9.08
Explanation:
The dividend discount model (DDM) can be used to calculate the price of the stock today. DDM calculates the price of a stock based on the present value of the expected future dividends from the stock. The formula for price today under DDM is,
P0 = D1 / (1+r) + D2 / (1+r)^2 + ... + Dn / (1+r)^n + [(Dn * (1+g) / (r - g)) / (1+r)^n]
Where,
D1, D2, ... , Dn is the dividend expected in Year 1,2 and so on g is the constant growth rate in dividends r is the discount rate or required rate of return
P0 = 0.31 / (1+0.1) + 0.36 * / (1+0.1)^2 + 0.51 / (1+0.1)^3 + 0.81 / (1+0.1)^4 +
[(0.81 * (1+0.025) / (0.1 - 0.025)) / (1+0.1)^4]
P0 = $9.0767092 rounded off to $9.08
What does a company's customer service department do?
The customer service department is the area of the company that handles the relationship with customers after they buy a product which includes answering questions, managing complaints and fixing issues with the product. According to this, the answer is interact with customers after they have purchased the product.
Hope this helps have a awesome day :)
At the end of the prior year, Doubtful Inc. had a deferred tax asset of $18,500,000 attributable to its only timing difference, a temporary difference of $47,000,000 in a liability for estimated expenses. At that time, a valuation allowance of $3,730,000 was established. At the end of the current year, the temporary difference is $42,000,000, and Doubtful determines that the balance in the valuation account should now be $5,000,000. Taxable income is $14,700,000 and the tax rate is 35% for all years.
Required:
Prepare journal entries to record Doubtful's income tax expense for the current year.
Answer:
Journal entries to record Doubtful's income tax expense for the current year.
No Account titles and Explanation Debit'$ Credit'$
1 Income tax expense 8,945,000
Deferred tax asset 3,800,000
[(42,000,000*35%) - 18,500,000]
Income taxes payable 5,145,000
[(14,700,000*35%)]
(To record tax expenses)
2 Income tax expense 1,270,000
Valuation allowance - deferred tax asset 1,270,000
(3,730,000 - 5,000,000
(To record valuation allowance)
What are the advantages of a presentation
Answer:
THE PERSON BELOW ME IS CORRECT
Explanation:
Answer:
people will get the idea more... and you could show stattistics for them/people you are showing the presentation they could be on the wrong side but you show ur presentation and boom their on the right side
Explanation:
During a period of high inflation, whDuring a period of high inflation, what government actions can preserve the value of money? Select two options.
forcing producers to sell at a certain price
selling gold for use as an alternate currency
restricting the money supply by adjusting interest rates
providing increased benefits to people harmed by inflation
decreasing the demand for money by lowering the price of real estateat government
Answer:
selling gold for use as an alternate currency
restricting the money supply by adjusting interest rates
Answer:
b and c
Explanation:
mark me brainliest please <3
A jobless recovery means that gross domestic product (GDP) decreases while there is no increase in employment. gross domestic product (GDP) decreases while there is an increase the unemployment rate. gross domestic product (GDP) increases while there is an increase in the labor force participation rate. gross domestic product (GDP) increases while there is no increase in employment..
Answer:
gross domestic product (GDP) decreases while there is no increase in employment.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Natural Rate of Unemployment (NU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Cyclical unemployment rate (CU).
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
A jobless recovery can be defined as an economic period in which the economy of a country recovers from an economic meltdown (recession) but without a tangible reduction in the level of unemployment (unemployment rate) within the country.
Hence, a jobless recovery simply means that gross domestic product (GDP) decreases without an equivalent increase in the level of employment i.e a decrease in the unemployment rate.
Answer:
Answer:
gross domestic product (GDP) decreases while there is no increase in employment.
Explanation:
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Natural Rate of Unemployment (NU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Cyclical unemployment rate (CU).
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
A jobless recovery can be defined as an economic period in which the economy of a country recovers from an economic meltdown (recession) but without a tangible reduction in the level of unemployment (unemployment rate) within the country.
Hence, a jobless recovery simply means that gross domestic product (GDP) decreases without an equivalent increase in the level of employment i.e a decrease in the unemployment rate.
When the sales department needs to hire more staff, the corporate skills inventory system was used to determine if any current employees had the skills needed for the new position. This is an example of :________. .
Answer: Internal recruiting
Explanation:
Internal recruiting is when an organization fills its vacancies from its existing workforce.
In this case, rather than looking for applicants to the position outside the company, the company fills the available position with some of its staff. On the other hand, external recruitment is when the position is filled by outsiders.
Rayya company purchases a machine for $105000 on january 1, 2019. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service.
Required:
Prepare entries to record the partial year's depreciation on July 1, 2023 and to record the sale under each separate situation.
1. The machine is sold for $45,500 cash.
2. The machine is sold for $25,000 cash.
Answer:
Journal entry For Depreciation
Date Account and explanation Debit Credit
July 1 Depreciation expense $7,500
(105000/7)*6/12
Accumulated depreciation-Machine $7,500
(To record Depreciation)
1) Journal entry
Date Account and explanation Debit Credit
July 1 Cash $45,500
Accumulated depreciation-Machine $67,500
Machine $105,000
Gain on Sale of Machine $8,000
(To record sale of Machine)
2) Journal entry
Date Account and explanation Debit Credit
July 1 Cash $25,000
Accumulated depreciation-Machine $67,500
(105000/7*4.5)
Loss on sale of machine $12,500
Machine $105,000
(To record sale of Machine)
A year ago, you graduated from college and decided to open your own computer software company. Over the past year, your firm generated $500,000 in revenue. You hired two software engineers and paid each of them $150,000 over the past year. You also purchased computer equipment that cost a total of $30,000. To save money, you decided to use the basement of your house for the business. Previously, you had rented this space to a tenant for $6,000 per year. Instead of opening your own business, you could have gone to work for Microsoft and earned $200,000 over the past year.
a. What were your accounting profits of your firm over the past year? 170000
b. What were the economic profits of your firm over the past year? $ 506000 should not have
c. Given this information, you launched your own business.
Answer:
20000
Explanation: