Answer: See explanation
Explanation:
The budget for the Street Improvement Bond Debt Service Fund for year 2017 will be:
Debit: Estimated other financing sources - Premium on bonds = $42000
Debit: Estimated other financing sources - Transfer in - $10000
Debit: Estimated Revenue - Accrued Interest on bonds sold = $28000
Credit: Appropriation = $40000
Credit: Budgetary funds balance = $40000
The manager of the Quick Stop Corner Convenience Store (which never closes) sells four cases of Stein beer each day. Order costs are $8.00 per order, and Stein beer costs $.80 per six-pack (each case of Stein beer contains four six-packs). Orders arrive three days from the time they are placed. Daily holding costs are equal to five percent of the cost of the beer.
1. At what point should he reorder Stein beer?
A. 0 cases remaining
B. 4 cases remaining
C. 12 cases remaining
D. 16 cases remaining
E. 20 cases remaining
2. If he were to order 16 cases of Stein beer at a time, what would be the length of an order cycle?
A. 0.25 days
B. 3 days
C. 1 day
D. 4 days
E. 20 days
3. If he were to order 16 cases of Stein beer at a time, what would be the average inventory level?
A. 4 cases
B. 12 cases
C. 8 cases
D. 20 cases
E. 16 cases
4. If he were to order 16 cases of Stein beer at a time, what would be the daily total inventory costs, EXCLUDING the cost of the beer?
A. $2.00
B. $4.00
C. $1.28
D. $3.28
E. $2.56
5. What is the economic order quantity for Stein beer?
A. 8 cases
B. 11 cases
C. 14 cases
D. 20 cases
Answer:
1. C. 12 cases remaining
2. B. 3 days
3. A. 4 Cases
4. A. $2.00
5. B. 11 cases
Explanation:
4 cases of beer are sold everyday. The ordering cost is $8.00 per order,
Reorder point = Lead time * Units demanded per day
Reorder point = 3 days * 4 cases of beer = 12 cases remaining
Economic Order Quantity = [tex]\sqrt{\frac{2* Annual demand * Ordering cost}{Holding cost per unit} }[/tex]
EOQ = 11 cases
Red Co. had the following transactions through December 31: Cash proceeds from the sale of investment in Gold Co. stock $ 15,000 Dividends received on investment in Blue Co. stock $ 10,000 Repaid principal on a loan to the bank $ 35,000 Acquired investment in Yellow Co. stock $ 75,000 Proceeds from the disposal of factory equipment $ 12,000 What amount should Red report as net cash used by investing activities in its statement of cash flows for the period ended December 31
Answer:
Red Co.
The amount that Red Co should report as net cash used by investing activities in its statement of cash flows for the period ended December 31 is:
= $38,000.
Explanation:
a) Data and Calculations:
Investing activities section of the Statement of Cash Flows:
Sales of investment in Gold Co stock $15,000
Dividends received on Blue Co. stock 10,000
Purchase of investment in Yellow Co (75,000)
Proceeds from the disposal of equipment 12,000
Net cash used by investing activities $38,000
On January 1, a company issued and sold a $399,000, 9%, 10-year bond payable, and received proceeds of $394,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal entry to record the first interest payment is:
Answer:
Cash Interest payable on Bond = $399,000*4.5% = $17,955
Discount to be amortized = ($399,000-$394,000)/20 = $250
Interest expense = $17,955+$250 = $18,205
Date Journal Entry Debit Credit
Interest Expense $18,205
Discount on bonds payable $250
Cash $17,955
Bonaime, Inc., has 7.7 million shares of common stock outstanding. The current share price is $62.70, and the book value per share is $5.70. The company also has two bond issues outstanding. The first bond issue has a face value of $71.7 million, a coupon rate of 7.2 percent, and sells for 89.5 percent of par. The second issue has a face value of $36.7 million, a coupon rate of 8.2 percent, and sells for 88.5 percent of par. The first issue matures in 22 years, the second in 14 years. The most recent dividend was $3.70 and the dividend growth rate is 8 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 30 percent.
What is the company’s cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Cost of equity %
What is the company’s aftertax cost of debt? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Aftertax cost of debt %
What is the company’s equity weight? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
Equity weight
What is the company’s weight of debt? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.)
Debt weight
What is the company’s WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
WACC
Answer:
Bonaime, Inc.
1. The company's cost of equity = 5.90%
2. The company's after-tax cost of debt = 5.92%
3. The company's equity weight = 83.32%
4. The company's debt weight = 16.68%
5. The company's WACC = 5.9035%
Explanation:
a) Data and Calculations:
Common stock outstanding = 7.7 million shares
Current share price = $62.70
Book value per share = $5.70
Most recent dividend per share = $3.70
1. Cost of equity = Dividend/Current share price = $3.70/$62.70 = 5.90%
Value:
Book value = 7.7 million * $5.70 = $43,890,000
Market value = 7.7 million * $62,70 = $482,790,000
Bonds outstanding: First Bonds Second Bonds Total
Face value = $71,700,000 $36,700,000 $108,400,000
Coupon rate 7.2% 8.2%
Annual coupon payment $5,162,400 $3,009,400 $8,171,800
Market value per bond 89.5% 88.5%
Market value of bonds $64,171,500 $32,479,500 $96,651,000
Before tax cost of debt = $8,171,800/$96,651,000 = 0.08455
2. After tax cost of debt = 5.92% (0.08455 * (1 - 0.30))
3. The company's equity weight = Equity Market Value/Total Firm's Value
= $482,790,000/$579,441,000
= 83.32%
4. The company's debt weight = 1 - 0.8332
= 16.68%
5. The company's WACC = Cost of equity * Weight + Cost of Debt * Weight
= (5.90% * 83.32%) + (5.92% * 16.68%)
= (0.0590 * 0.8332) + (0.0592 * 0.1668)
= 0.04916 + 0.009875
= 0.059035
= 5.9035%
b) The costs of equity and debts are based on their market values instead of the book value. The market values are always more relevant in capital decision-making than the book values.
Juan Martinez, a systems engineer at a construction machinery company, just received his performance appraisal from his boss, Emily Taylor. Although Juan has been mostly an average performer, Emily gave him below average ratings due to the fact that the person who Emily evaluated before Juan was Max Houser, an exceptional performer. This is an example of what type of rating error
Answer: Contrast
Explanation:
Contrast error is a type of rating error whereby how a target person is evaluated in a group is dependent and affected by how others perform in that group.
Contrast error is used in appraising the performance of an individual and the rating of a candidate will be affected by how the person before him or her was rated. Based on the question, Juan was rated below average because the person before him was given an exceptional rating.
Martin Corp. permits any of its employees to buy shares directly from the company through payroll deduction. There are no brokerage fees and shares can be purchased at a 15% discount. During 2021, employees purchased 12 million shares; during this same period, the shares had a market price of $15 per share at the end of the year. Martin's 2021 pretax earnings will be reduced by:
Answer:
$27 million
Explanation:
Calculation to determine what Martin's 2021 pretax earnings will be reduced by:
Cash $153 million
($15 x 12 million x 85%)
Compensation expense $27 million
($15 x 12 million x 15%)
Common stock $180 million
($15 x 12 million)
Therefore Martin's 2021 pretax earnings will be reduced by:$27 million
Sage Company is operating at 90% of capacity and is currently purchasing a part used in its manufacturing operations for $16.00 per unit. The unit cost for the business to make the part is $20.00, including fixed costs, and $11.00, excluding fixed costs. If 32,842 units of the part are normally purchased during the year but could be manufactured using unused capacity, what would be the amount of differential cost increase or decrease from making the part rather than purchasing it
Answer:
$164,210 decrease
Explanation:
Calculation to determine what would be the amount of differential cost increase or decrease from making the part rather than purchasing it
Differential cost increase or decrease=(32,842 * 16)- (32,842 * 11)=
Differential cost increase or decrease=$525,472-$361,262
Differential cost increase or decrease=$164,210 decrease
Therefore what would be the amount of differential cost increase or decrease from making the part rather than purchasing it is $164,210 decrease
Tying sales happen when Select the correct answer below: a customer is required to buy one product only if the customer also buys a second product. two or more products are sold as one. firms divide markets by allocating customers. an existing firm reacts to a new firm by dropping prices very low until the new firm is driven out of the market.
Answer:
a customer is required to buy one product only if the customer also buys a second product.
Explanation:
Tying sales means the circumstance in which a customer is needed to purchase other item so that he or she is able to acquire the commodity
So here it refers that the situation where the customer is needed to purchase one product only in the case when the customer also purchased the second product
Therefore as per the given situation, the first option is correct
Questlon 5 of 10 What is the source of funds for transactions completed with debit cards?
O A. The source varies by transaction
O B. Bank account
O C. Wages or salary
O D. Independent creditor
The source of funds for transactions completed with debit cards is wages or salary. Thus, option C is correct.
What are Debit card?The account number for a debit card payment is directly connected to the cardholder's bank account. The whole cost of the purchase is instantly subtracted from the account balance of the customer. The issuing bank must verify that the cardholder has enough money to finish the transaction.
Debit cards, often called check cards or bank cards, are payment cards that may be used to make transactions instead of cash. The term "plastic card" refers to both the aforementioned and identification cards. Therefore, it can be concluded that option C is correct.
Learn more about Debit card here:
https://brainly.com/question/27350251
#SPJ1
what do pre-teen ducks hate?
will mark brainiest for right answer!
think hard.
Answer:
pre teen ducks hate voice quacks
Which pathways are part of the Human Services career cluster? Select all that apply.
o Counseling and Mental Health Services
o Support Services
o Family and Community Services
o Early Childhood Development and Services
o Therapeutic Services
o Consumer Services
o Personal Care Services
Answer:
consumer services
counseling and mental health services
early childhood development and services
family and community services
personal care services.
Explanation:
The Human Services Career Cluster are simply skills that prepares one to take on jobs that cater for human and family needs. This job could either be as a social worker, pedicurist, etc, as human needs will be addressed.
The pathways which are part of the Human Services career cluster include consumer services
counseling and mental health services
early childhood development and services
family and community services
personal care services.
Answer:
A,C,D,F,G
Explanation:
Using the following selected items from the comparative balance sheet of Kato Company, illustrate horizontal and vertical analysis.
HORIZONTAL VERTICAL
ANALYSIS ANALYSIS
December 31, December 31, 2019 December 31, 2020 December 31, 2019
2020
Accounts
Receivable $720,000 $630,000
Inventory 450,000 360,000
Answer:
Kato Company
a. Vertical Analysis:
December 31, 2020 % December 31, 2019 %
Accounts
Receivable $720,000 61.5% $630,000 63.6%
Inventory 450,000 38.5% 360,000 36.4%
Total current assets $1,170,000 100% $990,000 100%
b. Horizontal Analysis:
December 31, 2020 Change December 31, 2019
Accounts
Receivable $720,000 +14.3% $630,000
Inventory 450,000 +25% 360,000
Total current assets $1,170,000 +18.2% $990,000
Explanation:
a) Data and Calculations:
December 31, 2020 December 31, 2019
Accounts
Receivable $720,000 $630,000
Inventory 450,000 360,000
Total current assets $1,170,000 $990,000
December 31, 2020 % December 31, 2019 %
Accounts
Receivable $720,000 61.5%(720/1,170) $630,000 63.6% (630/990)
Inventory 450,000 38.5% (450/1,170) 360,000 36.4%(360/990)
Total current assets $1,170,000 100% (1,170/1,170) $990,000 100% (990/990)
December 31, 2020 Change December 31, 2019
Accounts
Receivable $720,000 +14.3% (720-630)/630 $630,000
Inventory 450,000 +25% (450-360)/360 360,000
Total current assets $1,170,000 +18.2% (1,170-990)/990 $990,000
b) The vertical analysis of Kato's balance sheet items focuses on the relationships between the line items in a single reporting period, while horizontal analysis focuses on multiple reporting periods, reporting on the changes between the accounting periods.
Explain where in the U.S. balance of payments an entry would be recorded for each of the following:
a. A Hong Kong financier buys some U.S. corporate stock.
b. A U.S. tourist in Paris buys some perfume to take home.
c. A Japanese company sells machinery to a pineapple company in Hawaii.
d. U.S. farmers gave food to starving children in Ethiopia.
e. The U.S. Treasury sells a bond to a Saudi Arabian prince.
f. A U.S. tourist flies to France on Air France.
g. A U.S. company sells insurance to a foreign firm.
Answer:
a. This a capital inflow and it will be recorded in the capital account in the BOP in the BOP.
b. This is an imports of merchandise and it will be recorded under current account in the BOP.
c. This is also an import of merchandise and it will be recorded under current in the BOP.
d. This is an exports of merchandise and it will be recorded under current in the BOP.
e. This an outflow of capital and it will be recorded under capital accounts in the BOP.
f. This is a purchase or import of service and it will be recorded under current account in BOP.
g. This is a sale or export of service and it will be recorded under current account in the BOP.
Explanation:
Balance of Payment (BOP) refers to the statement in which every monetary transactions made between residents of a country and the rest of the world during a specific period are recorded.
Balance of payments records the inflows and outflows of capital which monitors under capital account, imports and exports of merchandise and service which are monitor under current account, and financial transactions.
Therefore, we have:
a. A Hong Kong financier buys some U.S. corporate stock.
This a capital inflow and it will be recorded in the capital account in the BOP in the BOP.
b. A U.S. tourist in Paris buys some perfume to take home.
This is an imports of merchandise and it will be recorded under current account in the BOP.
c. A Japanese company sells machinery to a pineapple company in Hawaii.
This is also an import of merchandise and it will be recorded under current in the BOP.
d. U.S. farmers make a gift of food to starving children in Ethiopia
This is an exports of merchandise and it will be recorded under current in the BOP.
e. The U.S. Treasury sells a bond to a Saudi Arabian prince.
This an outflow of capital and it will be recorded under capital accounts in the BOP.
f. A U.S. tourist flies to France on Air France.
This is a purchase or import of service and it will be recorded under current account in BOP.
g. A U.S. company sells insurance to a foreign firm.
This is a sale or export of service and it will be recorded under current account in the BOP.
Rover Corporation purchased a truck at the beginning of 2017 for $109,200. The truck is estimated to have a salvage value of $4,200 and a useful life of 120,000 miles. It was driven 21,000 miles in 2017 and 29,000 miles in 2018. What is the depreciation expense for 2018
Answer:
Annual depreciation= $25,375
Explanation:
Giving the following information:
Purchase price= $109,200
Salvage value= $4,200
Useful life in miles= 120,000
To calculate the depreciation expense, we need to use the units-of-activity method:
Annual depreciation= [(original cost - salvage value)/useful life of production in miles]*miles operated
2018:
Annual depreciation= [(109,200 - 4,200) / 120,000]*29,000
Annual depreciation= 0.875*29,000
Annual depreciation= $25,375
The Chewbacca Starship Company had the following transactions during the month of December:
a. purchased inventory on account for $230,000 (assume Chewbacca uses a perpetual inventory system)
b. paid $57,000 in salaries to employees for work performed during the month
c. sold merchandise that cost $154,000 to credit customers for $285,000
d. collected $265,000 in cash from credit customers
e. paid suppliers of inventory $210,000.
Required:
Post the above transactions to the T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $73,500, $60,000, and $39,000, respectively.
Answer:
The Chewbacca Starship Company
T-accounts:
Cash
Date Account Titles Debit Credit
Dec. 1 Beginning balance $73,500
Dec. 31 Salaries expense $57,000
Dec. 31 Accounts receivable 265,000
Dec. 31 Accounts payable 210,000
Accounts receivable
Date Account Titles Debit Credit
Dec. 1 Beginning balance $60,000
Dec. 31 Sales revenue 154,000
Dec. 31 Cash $265,000
Accounts payable
Date Account Titles Debit Credit
Dec. 1 Beginning balance $39,000
Dec. 31 Inventory 230,000
Dec. 31 Cash $210,000
Inventory
Date Account Titles Debit Credit
Dec. 31 Accounts payable $230,000
Sales revenue
Date Account Titles Debit Credit
Dec. 31 Accounts receivable $154,000
Salaries Expense
Date Account Titles Debit Credit
Dec. 31 Cash $57,000
Explanation:
a) Data and Analysis:
a. Inventory $230,000 Accounts payable $230,000
b. Salaries expense $57,000 Cash $57,000
c. Accounts receivable $154,000 Sales revenue $154,000
d. Cash $365,000 Accounts receivable $265,000
e. Accounts payable $210,000 Cash $210,000
Opening balances:
Cash $73,500
Accounts receivable $60,000
Accounts payable $39,000
Bing Corporation acquired two inventory items at a lump-sum cost of $120,000. The acquisition included 3,000 units of product LF, and 7,000 units of product 1B. LF normally sells for $30 per unit, and 1B for $10 per unit. If Bing sells 1,000 units of LF, what amount of gross profit should it recognize
Answer: $7,500
Explanation:
3,000 units of LF normally costs:
= 3,000 * 30
= $90,000
7,000 units of 1B normally costs:
= 7,000 * 10
= $70,000
Together they cost:
= 90,000 + 70,000
= $160,000
Use this to calculate the proportional cost of LF from the lump sum:
= 90,000 / 160,000 * 120,000
= $67,500
Cost per unit of LF purchased at lump sum cost:
= 67,500 / 3,000 units
= $22.50
Gross profit:
= (Selling price - Cost per unit) * 1,000 units
= (30 - 22.50) * 1,000
= $7,500
Sally took out a $70,000, 5-year term policy at age 45. The premium per $1,000
was $4.21. She will be 50 years old this year. The premium per $1,000 will be
$5.90. What is the percent increase?*
40%
45%
42%
52%
K
Dev is a strategist for the firm Stark Industries, which produces high-quality HD movie cameras. This company needs a specific material for a new camera they are developing, which is manufactured in large quantities by a competitor called LENS Inc. However, this material is difficult to trade. Because of this, which of the following is most likely the best strategy for Dev to suggest?
A. Stark industries should acquire LENS
B. Stark industries should enter into co-opetition with LENS
C. Stark industries should form a long term agreement with LENS
D. Stark industries should form a short term agreement with LENS
Answer: A. Stark industries should acquire LENS
Explanation:
Based on the information given in the question, the best strategy that Dev should suggest is that Stark industries should acquire LENS.
Since Stark Industries require the material from LENS and it's difficult to trade, the best option is to acquire it. The acquisition will make the production of the high-quality HD movie cameras easier.
It should be noted that entering into a competition with LENS is not advisable as that'll lead to the material not gotten. Also, a short or long term agreement isn't advisable as well.
Therefore, the correct option is A.
Purchase
Cash paid for equipment, including sales tax of $7,400 $155,400
Freight and insurance cost while in transit 2,960
Cost of moving equipment into place at factory 4,588
Wage cost for technicians to test equipment 5,920
Insurance premium paid during first year of operation on this equipment 2,220
Special plumbing fixtures required for new equipment 11,840
Repair cost incurred in first year of operations related to this equipment 1,924
Construction
Material and purchased parts (gross cost $296,000; failed to take 2% cash discount) $296,000 Imputed interest on funds used during construction (stock financing) 20,720
Labor costs 281,200 Allocated overhead costs (fixed-$29,600; variable-$44,400) 74,000
Profit on self-construction 44,400 Cost of installing equipment 6,512
Compute the total cost to be capitalized for each of these two pieces of equipment.
Purchase equipment $
Construction equipment $
Answer:
The total cost to be capitalized for each of these two pieces of equipment:
Purchase equipment = $180,708
Construction equipment = $678,432
Explanation:
a) Data and Calculations:
Purchase
Cash paid for equipment, including sales tax of $7,400 $155,400
Freight and insurance cost while in transit 2,960
Cost of moving equipment into place at factory 4,588
Wage cost for technicians to test equipment 5,920
Special plumbing fixtures required for new equipment 11,840
Total cost to be capitalized = $180,708
Construction
Material and purchased parts (gross cost $296,000; failed to take 2% cash discount) $296,000
Imputed interest on funds used
during construction (stock financing) 20,720
Labor costs 281,200
Allocated overhead costs:
Fixed $29,600
Variable $44,400 74,000
Cost of installing equipment 6,512
Total capitalized costs = $678,432
Castille Corp. purchases, for $600,000, land upon which a building and a dilapidated shed are situated. Castille plans to use the building as-is for operations but immediately razes the shed at a cost of $5,000 minus scrap recovery of $1,000. A recent tax appraisal of the property allocated $100,000 to the land and $400,000 to the building. In the entry to record the acquisition of the property, at what amount will Castille debit Land
Answer:
$120,800
Explanation:
Give that;
Cost of land = $600,000
Associated expenses :
Razing down the shed = $5,000
Income from scrap = $1,000
Total expenses = $4,000
The total cost of the land would be;
Total cost of land = Cost of land + Total expense
= $600,000 + $4,000
= $604,000
Tax allocation: land and building = $500,000
Land allocation will now be
= 100,000/500,000 × $604,000
= 0.2 × $604,000
= $120,800
Which work trait do most employers look for in a perspective employee? (Hint: it deals with time)
Answer:
time management
Explanation:
Based on my experiences, I believe that the best trait that employers look for in these employees would be time management. In other words, an employee is able to divide their time between various tasks and responsibilities as efficiently as possible. Every employee will have more than one responsibility and if they are able to accomplish all of them efficiently by organizing their schedule and putting all their focus into each task, it ultimately saves the company a huge amount of money and generates more profits because things are getting done.
Where is the smallest pizza in Los Angeles located?
Answer:
DeSano Pizza Bakery
Explanation:
Lynch Company began operations in 2019. The company reported $24,000 of depreciation expense on its income statement in 2019 and $26,000 in 2020. On its tax returns, Lynch deducted $32,000 for depreciation in 2019 and $37,000 in 2020. The 2020 tax return shows a tax obligation (liability) of $12,000 based on a 25% tax rate.
Required:
Determine the temporary difference between the book value of depreciable assets and the tax basis of these assets at the end of 2019 and 2020.
Answer:
2019 $8,000
2020 $19,000
Explanation:
Calculation to determine the temporary difference between the book value of depreciable assets and the tax basis of these assets at the end of 2019 and 2020.
Calculation for 2019 Temporary differences
2019
Using this formula
2019 Temporary differences = 2019 Depreciation- 2019 depreciation expense
Let plug in the formula
2019 Temporary differences =$32,000 - $24,000
2019 Temporary differences= $8,000
Calculation for 2020 Temporary differences
Using this formula
2020 Temporary differences=(2019 Depreciation+2020 Depreciation)-( 2019 Depreciation expense+2020 Depreciation expense)
Let plug in the formula
2020 Temporary differences= ($32,000 + $37,000) - ($24,000 + $26,000)
2020 Temporary differences=$69,000-$50,000
2020 Temporary differences= $19,000
Therefore the temporary difference between the book value of depreciable assets and the tax basis of these assets at the end of 2019 and 2020 will be $8,000 and $19,000
Kannitha is concerned about union organizing activities among her employees. She knows that one employee, Joao, is anti-union and not attending any of the organizing meetings. Kannitha asks Joao to start attending and to report back to her on what is happening so they can keep the union from forming. Joao does so and lets Lauren know what is being said at the meetings. It appears Lauren violated which of the NLRB’s NO TIPS rules regarding what management cannot do during labor elections.
A) no threats.
B) no interrogations.
C) no promises.
D) no spying.
Answer:
d
Explanation:
The tips rules reminds management what they cannot do during labour union elections. They include :
spying - this is secretly monitoring what is going on in labour union
Interrogations
threats
Which of the following is an example of a good with elastic supply in the short run?
Answer: passenger airplanes
Explanation:
Sheryl Hansen started a business on May 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side.
a. Invested cash in the business, $3,100.
b. Bought equipment for cash, $500.
c. Bought equipment on account, $800.
d. Paid cash on account for equipment purchased in transaction (c), $300.
e. Withdrew cash for personal use, $700.
Answer:
Sheryl Hansen
T- Accounts
Cash
Account Titles Debit Credit
a. Sheryl Hasen, Capital $3,100
b. Equipment $500
d. Accounts Payable 300
e. Sheryl Hasen, Drawings 700
Sheryl Hasen, Capital
Account Titles Debit Credit
a. Cash $3,100
Equipment
Account Titles Debit Credit
b. Cash $500
c. Accounts Payable 800
Accounts Payable
Account Titles Debit Credit
c. Equipment $800
d. Cash $300
Sheryl Hasen, Drawings
Account Titles Debit Credit
e. Cash $700
Explanation:
a) Data and Analysis:
a. Cash $3,100 Sheryl Hasen, Capital $3,100
b. Equipment $500 Cash $500
c. Equipment $800 Accounts Payable $800
d. Accounts Payable $300 Cash $300
e. Sheryl Hasen, Drawings $700 Cash $700
Roman Industries' plant operates five days per week with a daily payroll of $6,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, March 31. What is the amount of Wages Expense recorded on the next payday, Saturday, April 3
Answer:
$12,000
Explanation:
Calculation to determine the amount of Wages Expense recorded on the next payday, Saturday, April 3
Using this formula
Wages Expense=Daily payroll *2 days
Let plug in the formula
Wages Expense=$6,000*2 days
Wages Expense=$12,000
Therefore the amount of Wages Expense recorded on the next payday, Saturday, April 3 is $12,000
On January 1, 2024, an investor paid $315,000 for bonds with a face amount of $380,000. The stated rate of interest is 8% while the current market rate of interest is 10%. Using the effective interest method, how much interest income is recognized by the investor in 2024 (assume annual interest payments and amortization)
Answer:
$31,500
Explanation:
Calculation to determine how much interest income is recognized by the investor in 2024
Using this formula
Interest income=Amount paid by investor*market rate of interest
Let plug in the formula
Interest income=$315,000 × 10%
Interest income=$31,500
Therefore Using the effective interest method, how much interest income is recognized by the investor in 2024 is $31,500
What is the most powerful profit driver according to Nielson Co., a prominent marketing research company?
a) Effective management strategy
b) Effective financing strategy
c) Effective pricing strategy
Answer:
C
Explanation:
Effective Pricing Strategy
Cassidy Corporation is relocating its facilities. The company estimates that it will take three trucks to move office contents. If the per truck rental charge is $1,000 plus 25 cents per mile, what is the expected cost to move 800 miles
Answer:
thats a fast car
Explanation: