Answer:
Option C defines the similarity between the mutual funds and common stocks
Explanation:
Common stocks is just like buying shares of a company and having certain % of share in that fund.
Like wise mutual funds are too equivalent to buying shares or stocks but not individually but with other people having proportionate sharing governed by the amount invested by each individual.
Hence, option C is correct
Answer:
Investing in a mutual fund gives the investor a proportionate ownership in that fund.
Explanation:
I got it right on the test nun to worry about.
On January 1, 2017, Desert Company purchased a copyright for $2,500,000, having an estimated useful life of 16 years. In January 2021, Desert paid $326,927 for legal fees in a successful defense of the copyright. Copyright amortization expense for the year ended December 31, 2021, should be?
Answer:
$183,493.91
Explanation:
The computation of the amortization expense is shown below:
but before that following calculations are needed
The Amortization cost per year is
= $2,500,000 ÷ 16 years
= $156,250
Now the legal fees per year
= $326,927 ÷ 12 years
= $27243.92
Now the amortization expense is
= $156,250 + $27243.92
= $183,493.91
AbbVie Pharmaceuticals (headquartered in Lake Forest, IL) has commenced a $80 million R&D project to develop a new drug to treat a rare disease. So far, it has spent $25 million of the $80 million, and preliminary results are positive. If the remaining $55 million is invested, the drug will certainly be completed and is expected to generate profit1 of $100 million (in present value) for AbbVie. Meanwhile, a research biologist at Northwestern has independently developed a treatment for the same disease. The scientist has offered to sell her invention to AbbVie for $2 million. Her drug would be just as effective as AbbVie’s drug, and would also generate profit of $18 million in present value.
Required:
a. Should AbbVie buy the drug for $2 million?
b. What is the most AbbVie should be willing to pay for the Illinois Tech researcher’s drug?
c. How would your answer change if the Illinois Tech biologist had developed her drug two years ago, before AbbVie started its own R&D project?
d. Suppose that Merck has also expressed interest in the biologist’s invention. If Merck buys the drug, there is a 50% chance that it will beat AbbVie’s drug to market. If that happens, suppose the profit of the second drug to market is zero. Now how much should AbbVie be willing to pay for the drug? How much should Merck be willing to pay?
Question Completion:
AbbVie Pharmaceuticals (headquartered in Lake Forest, IL) has commenced a $10 million R&D project to develop a new drug to treat a rare disease. So far, it has spent $6 million of the $10 million, and preliminary results are positive. If the additional $4 million is invested, the drug will certainly be completed and is expected to generate profit of $18 million in present value for AbbVie. Meanwhile, a research biologist at Illinois Tech has independently developed a treatment for the same disease. The scientist has offered to sell her invention to AbbVie for $2 million. Her drug would be just as effective as AbbVie’s drug, and would also generate profit of $18 million in present value.
Answer:
AbbVie Pharmaceuticals
a. AbbVie should buy the drug for $2 million.
b. The most AbbVie should be willing to pay for the Illinois Tech researcher's drug is $4 million. Luckily, this much is not demanded by the researcher.
c. If the Illinois Tech biologist had developed her drug two years ago, before AbbVie started its own R&D project, AbbVie could have paid an amount ranging from $2 million to $10 million.
d. Before Merck buys the drug, AbbVie should be willing to pay $2 million without further delays.
e. Merck should be willing to pay as much as $4 million.
Explanation:
a) Note that the introduction to the question was flawed. The mathematics do not add up. For this reason, I have worked with the more properly formulated question as shown in the Question Completion above.
b) Data and Calculations:
Projected cost of R&D = $10 million
Amount of the R&D cost spent already = $6 million
Remaining R&D cost to be spent = $4 million
Expected profit = $18 million
Cost of the offer by the research biologist = $2 million
Expected profit from the biologist's drug = $18 million
c) The conclusions above were reached because all the amounts are stated in present value terms.
You are considering the acquisition of XYZ Enterprises. You have made the following projections for XYZ for years 1-5 ($ millions): Year 1 Year 2 Year 3 Year 4 Year 5 EBIT $ 20 $ 22 $ 25 $ 26 $ 30 Depreciation 5 5 6 7 8 Capital Expenditures 10 10 15 15 15 Investment in Working Capital 3 4 4 3 4 Assume a tax rate of 34%, a WACC of 13%, 2 million shares outstanding, $30 million debt value, and a growth rate of 5% after year 5. What is the estimated value per share to the nearest penny of XYZ using the perpetual growth method for calculating terminal value
Answer:
Value per share = $26.29675928947 rounded off to $26.30
Explanation:
To calculate the value of shares today, we first need to calculate the value of firm. We can calculate the value of firm by using the FCFF approach. The FCFF is calculated as follows,
FCFF = EBIT * (1- tax rate) + Depreciation - Capital Expenditure - Working Capital Investment
FCFF - Year 1 = 20 * (1-0.34) + 5 - 10 - 3 = 5.2 million
FCFF - Year 2 = 22 * (1-0.34) + 5 - 10 - 4 = 5.52 million
FCFF - Year 3 = 25 * (1-0.34) + 6 - 15 - 4 = 3.5 million
FCFF - Year 4 = 26 * (1-0.34) + 7 - 15 - 3 = 6.16 million
FCFF - Year 5 = 30 * (1-0.34) + 8 - 15 - 4 = 8.8 million
The value of firm can be calculated as follows,
Value of Firm = FCFF1 / (1+WACC) + FCFF2 / (1+WACC)^2 + ... +
FCFFn / (1+WACC)^n + [(FCFFn * (1+g) / (WACC - g)) / (1+WACC)^n]
Value of firm = 5.2 / (1+0.13) + 5.52 / (1+0.13)^2 + 3.5 / (1+0.13)^3 +
6.16 / (1+0.13)^4 + 8.8 / (1+0.13)^5 + [(8.8 * (1+0.05) / (0.13 - 0.05)) / (1+0.13)^5
Value of Firm = 82.59351857894 million
Value of Equity = Value of firm - value of debt
Value of equity = 82.59351857894 - 30
Value of equity = $52.59351857894 million rounded off to 52.59 million
To calculate the price per share, we need to divide the value of equity by the number of shares outstanding
Value per share = $26.29675928947 rounded off to $26.30
Luke Company has three divisions: Peak, View, and Grand. The company has a hurdle rate of 5.76 percent. Selected operating data for the three divisions follow:
Peak View Grand
Sales revenue $339,000 $223,000 $300,000
Cost of goods sold 197,000 111,000 188,000
Miscellaneous operating expenses 43,000 32,000 38,000
Average invested assets 1,320,000 960,000 1,185,000.
Required:
a. Compute the return on investment for each division.
b. Compute the residual income for each division.
Answer:
I DUNNNNO
Explanation:
Problem 7-2A (Algo) Estimating and reporting bad debts LO P2, P3 Skip to question [The following information applies to the questions displayed below.] At December 31, Hawke Company reports the following results for its calendar year. Cash sales $ 1,392,180 Credit sales $ 3,376,000 In addition, its unadjusted trial balance includes the following items. Accounts receivable $ 1,022,928 debit Allowance for doubtful accounts $ 22,240 debit Problem 7-2A (Algo) Part 1 Required: 1. Prepare the adjusting entry to record bad debts under each separate assumption. Bad debts are estimated to be 2% of credit sales. Bad debts are estimated to be 1% of total sales. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.
Answer:
A. Dr Bad Debts Expense $67,520
Cr Allowance for doubtful accounts $67,520
B. Dr Bad Debts Expense $47,682
Cr Allowance for doubtful accounts $47,682
C. Dr Bad Debts Expense $73,386
Cr Allowance for doubtful accounts $73,386
Explanation:
A. Preparation of the adjusting entry to record bad debts if Bad debts are estimated to be 2% of credit sales
Dr Bad Debts Expense $67,520
Cr Allowance for doubtful accounts $67,520
(2% * $3,376,000)
(To record 2% of credit sales)
B. Preparation of the adjusting entry to record bad debts if Bad debts are estimated to be 1% of total sales
Dr Bad Debts Expense $47,682
Cr Allowance for doubtful accounts $47,682
[1% * ($ 1,392,180 + $3,376,000)]
(To record 1% of total sales )
C. Preparation of the adjusting entry to record bad debts if An aging analysis estimates that 5% of year-end accounts receivable are uncollectible.
Dr Bad Debts Expense $73,386
Cr Allowance for doubtful accounts $73,386
[$ 22,240 + (5% * $ 1,022,928)]
(To record 5% year-end uncollectible accounts receivable)
On April 1, Sunland Company purchased for $1620000 a tract of land on which a warehouse and office building was located. The following data were collected concerning the property: Current Assessed Valuation Vendor's Original Cost Land $620000 $570000 Warehouse 390000 360000 Office building 790000 690000 $1800000 $1620000 What are the appropriate amounts that Sunland should record for the land, warehouse, and office building, respectively
Answer:
Land $558,000
Warehouse $351,000
Office building $711,000
Explanation:
Calculation to determine the appropriate amounts that Sunland should record for the land, warehouse, and office building, respectively
ALLOCATED COST
LAND $620000/ $1,80,0000*$1,620,000=$558,000
WAREHOUSE 390000/$1800000*$1620000=$351,000
OFFICE BUILDING 790000/$1800000*$1620000=$711,000
Total $1,800,000 $1,620,000
Therefore the appropriate amounts that Sunland should record are :
Land $558,000
Warehouse $351,000
Office building $711,000
Under the periodic inventory system, Village Fabrics purchased 25 yards of blue plaid fabric at a cost of $2.00 per yard on June 1; on June 3, 22 yards were sold of the blue plaid; a new shipment came in with 25 more yards at a cost of $1.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $1.00 per yard on June 19; on June 27, 6 more yards had been sold. What is the value of inventory as of June 30 under the LIFO method
Answer:
$56.25
Explanation:
LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.
the inventory sold would be accounted for from the last purchased items
a total of 75 yards was bought and 45 were sold. This leaves 30 yards in the inventory .
the 30 yards would be accounted for using the cost of the fabrics bought on June 1 and 5
25 x $2 = 50
5 x $1.25 = $6.25
total = $50 + $6.25 = $56.25
On January 1, 2021, Peach Corporation issues $600,000, 5-year, 7% bonds at par. Interest is paid semiannually on January 1 and July 1. Peach Corporation uses the straight-line method of amortization. The company's fiscal year ends on December 31. Which of the following statements about the journal entry for these bonds on July 1, 2021 is TRUE?
a. The entry decreases assets and increases stockholder's equity
b. The entry increases expenses and increases assets.
c. The entry decreases net income and increases liabilities
d. The entry decreases assets and stockholder's equity
Answer:
The correct option is d. The entry decreases assets and stockholder's equity.
Explanation:
Since interest is paid semiannually on January 1 and July 1, that means cash has to be paid on July 1, 2021 as interest on bond.
Since cash is a current asset, that means the the payment of cash as intetest enxpen on July 1, 2021 will decrease asset.
Since the amount of interest expense on bond paid July 1, 2021 will reduce net income which is one of the elements of stockholder's equity, the entry will also therefore decrease the stockholder's equity.
Therefore, the correct option is d. The entry decreases assets and stockholder's equity.
On August 2, ABC Co. receives a $7,900, 90-day, 10.5% note from its customer who is past due on what he owes. This note is replaces the customer's $7,900 account receivable. Prepare ABC's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.)
Answer:
Oct 31
Dr Cash $8,107
Cr Notes receivable$7,900
Cr Interest revenue $207
Explanation:
Prepare ABC's journal entry assuming the note is honored by the customer on October 31 of that same year
Oct 31
Dr Cash $8,107
[$7,900+($7,900*10.5%*90/360)]
Cr Notes receivable$7,900
Cr Interest revenue $207
($7,900*10.5%*90/360)]
Logistics Solutions provides order fulfillment services for dot merchants. The company maintains warehouses that stock items carried by its dot clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 190,000 items were shipped to customers using 8,300 direct labor-hours. The company incurred a total of $29,050 in variable overhead costs. According to the company’s standards, 0.03 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.55 per direct labor-hour. Required: 1. What is the standard labor-hours allowed (SH) to ship 190,000 items to customers? 2. What is the standard variable overhead cost allowed (SH × SR) to ship 190,000 items to customers? 3. What is the variable overhead spending variance? 4. What is the variable overhead rate variance and the variable overhead efficiency variance?
Answer:
1. Standard labor hour allowed 5,700 Hour
2. Standard variable overhead cost allowed $20,235
3. Variable overhead spending variance 8,815 U
4. Variable overhead rate variance 415 F
Variable overhead efficiency variance 9230 U
Explanation:
1. Calculation to determine the standard labor-hours allowed
Standard labor hour allowed = 190,000*.03
Standard labor hour allowed= 5,700 Hour
Therefore the Standard labor hour allowed is 5,700 Hour
2. Calculation to determine the standard variable overhead cost allowed
Using this formula
Standard variable overhead cost allowed=Standard quantity of labour hours allowed*Standard variable overhead rate
Let plug in the formula
Standard variable overhead cost allowed = 5,700*3.55
Standard variable overhead cost allowed = $20,235
Therefore the Standard variable overhead cost allowed is $20,235
3. Calculation to determine the variable overhead spending variance using this formula
Variable Overhead Spending Variance=Standard Cost- Actual Cost
Let plug in the formula
Variable overhead spending variance = 20,235-29,050
Variable overhead spending variance = 8,815 U
Therefore the Variable overhead spending variance is 8,815 U
4. Calculation to determine the variable overhead rate variance
Using this is formula
Variable overhead rate variance
=(Standard Rate*Actual Hour)-Actual cost
Let plug in the formula
Variable overhead rate variance = (3.55*8300-29050)
Variable overhead rate variance= 415 F
Therefore the variable overhead rate variance is 415 F
Calculation to determine variable overhead efficiency variance
Using this formula
Variable Overhead Efficiency Variance=
(Standard Hours - Actual Hours ) x Standard Rate
Let plug in the formula
Variable overhead efficiency variance = (5700-8300)*3.55
Variable overhead efficiency variance = 9230 U
Therefore the Variable overhead efficiency variance is 9230 U
ElectroWizard Company produces a popular video game called Destructo which sells for $32. Last year ElectroWizard sold 50,000 Destructo games, each of which costs $6 to produce. ElectroWizard incurred selling and administrative expenses of $80,000 and depreciation expense of $10,000. In addition, ElectroWizard has a $100,000 loan outstanding at 12%. Their tax rate is 40%. There are 100,000 common shares outstanding.
Required:
Prepare an income statement for Electro Wizard in good form and include earnings per share (EPS)
Answer:
Income Statement for Electro-Wizard Company
Particulars Amount
Sales (50,000 units*$32) $1,600,000
Cost of production (50,000 units*$6) ($300,000)
Net contribution $1,300,000
Selling and administration expenses ($80,000)
Depreciation expense ($10,000)
Total Operating Expenses $90,000
Operating Income $1,210,000
Interest expense ($100,000*12%) ($12,000)
Taxable Income $1,198,000
Taxes (1,198,000*40%) ($479,200)
Net Income $718,800
Earnings per share = Net Income/ Outstanding common shares
Earnings per share = $718,800 / 100,000 shares
Earnings per share = $7.18 per share
Broha Company manufactured 1,764 units of its only product during 2019. The inputs for this production are as follows: 490 pounds of Material A at a cost of $1.50 per pound 340 pounds of Material H at a cost of $2.95 per pound 380 direct labor hours at $28 per hour The firm manufactured 2,100 units of the same product in 2018 with the following inputs: 540 pounds of Material A at a cost of $1.40 per pound 400 pounds of Material H at a cost of $2.70 per pound 440 direct labor hours at $26 per hour In 2019, the partial financial productivity of Material A is:
Answer:
2.4
Explanation:
Calculation to determine what the partial financial productivity of Material A is:
Partial financial productivity of Material A { 1,764 units/(490 x $1.50)
Partial financial productivity of Material A =1,764 units/735
Partial financial productivity of Material A =2.4
. Therefore The partial financial productivity of Material A is 2.4
you can have your cake or chose to eat it
this is example of property rights providing tye right for you to
enjoy property
own property
exclude people from your property
Exchange property
Answer:
Exclude people from your property
why do we carry out stock taking
Answer:
here ye go
Explanation:
tocktaking allows you to keep an accurate track of the physical stock you have, what's been sold, and what hasn't. It's all about comparing the physical stock to what the report says then finding any discrepancies. ... Your stock take can highlight a number of problems including theft and shrinkage issues.
Which of the following statements concerning the add-on interest method is true?
O Interest is added to the amount borrowed before the payments are calculated.
O It usually results in a higher APR than the discount interest method.
O The lender subtracts the interest due from the principal before the borrower receives the loan proceeds.
O It results in a lower APR than the simple interest method.
Answer:
O Interest is added to the amount borrowed before the payments are calculated.
A note payable was executed by Sterling Inc. to Miami Finance Company. Sterling Inc. used $192,000 of its accounts receivable as collateral for the loan. The contract provided that Miami would advance 85% of the gross amount of the receivables. Sterling Inc. continues to collect payments for the receivables and the cash from customers is then remitted to the finance company. The cash remitted is first applied to the finance charges, with the remainder applied to principal.
During the first month, customers owing $131,200 paid cash, less sales returns and allowances of $5,120, originally recorded as a refund liability. The finance charge at the end of the first month was $1,120. During the second month, the remaining receivables were collected in full, except for $1,280 off as uncollectible. Final settlement was effected with the finance company, including payment of an additional finance charge of $480.
Required:
a. Record the entry for Sterling to record the secured borrowing.
b. Record the entries for Sterling to record (1) the collections for the second month and (2) the final payment to Miami.
Answer:
Explanation:You should prob subscribe to keepUsweatin
OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $5.3 million. Interest is payable at maturity. Required: Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions: (Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).)
Answer:
the question is incomplete, so I looked for a similar one online:
December 31, year 1:
interest expense = $5,300,000 x 12% x 6/12 = $318,000
September 30, year 1:
interest expense = $5,300,000 x 10% x 3/12 = $132,500
October 31, year 1:
interest expense = $5,300,000 x 9% x 4/12 = $159,000
January 31, year 2:
interest expense = $5,300,000 x 6% x 7/12 = $185,500
Alexandria's Dance Studio is currently an all-equity firm with earnings before interest and taxes of $338,000 (in perpetuity ) and a cost of equity of 14.2%. Assume the tax rate is 22%. The firm is considering adding $400,000 of debt with a coupon rate of 7% to its capital structure. The debt will be sold at par value. What is the levered value of the equity
Answer:
$1,544,620
Explanation:
Calculation to determine the levered value of the equity
First step is to calculate the VE
VL = {[$338,000 × (1 - .22)] / .142} + (.22 × $400,000)
VL=($338,000*0.78/.142)+$88,000
VL=($263,640/.142)+$88,000
VL=$1,856,620+$88,000
VL = $1,944,620
Now let calculate the levered value of the equity
VE = $1,944,620 - $400,000
VE = $1,544,620
Therefore the levered value of the equity is $1,544,620
QUESTION 9 of 10: Which of the following is not part of the process of passion transference?
a) The fan attends an event where branding/sponsorship is present,
b) The fan sees the brand as special and set apart from competitors.
c) The fan does not see the relevance of the brand advertisement,
d) The fan purchases the brand,
Answer:
The fan does not see the relevance of the brand advertisement.
Explanation:
Trust :)
Question 3. A Lilian and Brad both graduated from a law college, decided to donate money to their college. They setup 5 scholarships per year starting in 2046 for every year (assume more than 100 years). If $40,000 is invested in the trust fund in the year 2021 and if it earns a very good rate of return of 10% per year, what will the amount of each scholarship are starting in 2035
Answer:
If $40,000 is invested in the trust fund in the year 2021 and if it earns a very good rate of return of 10% per year, the amount of each scholarship, starting in 2035 will be:
= $167,089.93
Explanation:
a) Data and Calculations:
Investment in the trust fund in 2021 = $40,000
Investment period = 15 years (2021 to 2035)
Rate of return = 10%
From an online financial calculator:
N (# of periods) 15
I/Y (Interest per year) 10
PV (Present Value) 40000
PMT (Periodic Payment) 0
Results
FV = $167,089.93
Total Interest $127,089.93
Required information
Problem 9-3A Aging accounts receivable and accounting for bad debts LO P2, P3
[The following information applies to the questions displayed below.]
Jarden Company has credit sales of $3,100,000 for year 2017. On December 31, 2017, the company’s Allowance for Doubtful Accounts has an unadjusted credit balance of $19,564. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here.
December 31, 2017
Accounts Receivable Age of
Accounts Receivable Expected Percent
Uncollectible
$ 620,000 Not yet due 0.85 %
248,000 1 to 30 days past due 1.60
49,600 31 to 60 days past due 6.10
24,800 61 to 90 days past due 30.75
4,960 Over 90 days past due 64.00
Problem 9-3A Part 1
Required:
1. Estimate the required balance of the Allowance for Doubtful Accounts at December 31, 2017, using the aging of accounts receivable method.
Problem 9-3A Part 2
2. Prepare the adjusting entry to record bad debts expense at December 31, 2017.
Answer and Explanation:
1.
The estimation of the required balances are as follows:
Age Balance Estimated Estimated Uncollectible amount
of Dec-31 Percentage
Accounts Uncollectible
Not yet due $620,000 0.85% $5,270.00
1–30 days $248,000 1.60% $3,968.00
31–60 days $49,600 6.10% $3,025.60
61–90 days $24,800 30.75% $7,626.00
Over 90 days $4,960 64.00% $3,174.40
Total $947,360 $23,064
2.
Now the journal entry is
but before that following calculation is needed
Ending balance of allowance for doubtful account $23,064
Less: Opening balance in allowance for doubtful account -$19,564
Bad debt expense for the year $3,500
The journal entry is
Bad debt expense $ 3,500
To Allowance for doubtful accounts $ 3,500
(Being bad debt expense is recorded)
Exercise 10-3 Recording bond issuance and interest LO P1 On January 1, Boston Enterprises issues bonds that have a $1,950,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months
Answer:
$87,750
Explanation:
Calculation to determine How much interest will Boston pay (in cash) to the bondholders every six months
Using this formula
Semiannual cash interest paymen=Par maturity value*Semi-annual rate
Let plug in the formula
Semiannual cash interest payment=$1,950,000*9%/2
Semiannual cash interest payment=$87,750
Therefore The cash paid every six months would be $87,750
Comparative advantage in production is achieved by: Group of answer choices Subsidizing, specializing, and lowering the price of an exported good. Being able to produce a good with fewer inputs than in other countries. Having terms of trade that are better than the terms of trade faced in other countries. Having a lower opportunity cost of producing a good relative to that of other countries.
Answer:
Having a lower opportunity cost of producing a good relative to that of other countries.
Explanation:
Comparative advantage in economics is the ability of an individual or country to produce a specific good or service at a lower opportunity cost better than another individual or country.
The comparative advantage gives a country a stronger sales margin than their competitors as they are able to sell their specific products or render their peculiar services at a lower opportunity cost.
Also, the principle of comparative advantage asserts that countries can become better off by specializing in what they do best.
This simply means that, any country applying the principle of comparative advantage, would enjoy an increase in output and consequently, a boost in their Gross Domestic Products (GDP).
Hence, comparative advantage in production is achieved by having a lower opportunity cost of producing a good relative to that of other countries.
How can I be more swag?
Answer: First of all stop using "swag" it's "drip" Just grab you some drippy clothes that are in style and boom ur driped out!
Explanation: You would use the term "drip" when referring to someone who has a great sense of style. Someone who can put together outfits no matter what type of clothing it is and always look their best. Most people think to have drip you need to be decked out in all high end designer brands like Gucci, LV, Versace, Burberry, Nike,Jordan, Vans,etc.
The Academic Computing Center has five trainers available in its computer labs to provide training sessions to students. Assume that the design capacity of the system is 1900 students per semester and that effective capacity is 1710. If the number of students who actually got their orientation session is 1500, What is the ratio of the utilization of the system to its efficiency
Answer:
87.72%
Explanation:
Calculation to determine the ratio of the utilization of the system to its efficiency
Using this formula
Ratio=Orientation session/Effective capacity of the Academic*100
Let plug in the formula
Ratio = (1,500 / 1,710) * 100
Ratio= 0.8772 * 100
Ratio= 87.72%
Therefore the ratio of the utilization of the system to its efficiency will be 87.72%
Policy makers have been trying to diminish the gender gap in pay for several decades. Let's begin by determining the gender gap in 2004. For both of the maps, move the timeline back to 2004. The overall statistics give two values. The first value (the National Median) is the amount earned by the person for whom half of the country earn more and half earn less. Normally in thinking about pay inequality, we give the amount that women earn for every dollar a man earns. To get that number, divide the National Median for women by the National Median for men. In 2004 how much did women earn, on average for every dollar earned by a man?
a. $0.96
b. $1.32
c. $0.76
d. $0.80
Answer:
c. $0.76
Explanation:
Note: The picture below contains the national median for male and female workers
National median for female workers = $31,374
National median for male workers = $41,194
Earnings of women for every dollar of man’s earnings = National median for female workers / National median for male workers
Earnings of women for every dollar of man’s earnings = 31,374/41,194
Earnings of women for every dollar of man’s earnings = 0.76
The following data (in millions) are taken from the financial statements of Tarrow Corporation: Recent Year Prior Year Revenue $386,972 $356,000 Operating expenses 326,634 303,000 Operating income $60,338 $53,000 a. For Tarrow Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: Revenue Operating expenses Operating income Amount of Change (in millions) Percent of Change (round to 1 decimal place) Increase or Decrease 1. Revenue $fill in the blank 1 30,976 fill in the blank 2 % 2. Operating expenses fill in the blank 4 fill in the blank 5 3. Operating income fill in the blank 7 fill in the blank 8 b. During the recent year, revenue and operating expenses . As a result, operating income , from the prior year.
Answer:
Tarrow Corporation
a) Amount of change in millions and the percent of change:
Amount Percentage Direction
of Change of Change of Change
Revenue $30,972 8.7% Increase
Operating expenses 23,634 7.8% Increase
Operating income $7,338 13.8% Increase
b) During the recent year, revenue and operating expenses increased by 8.7% and 7.8% respectively. As a result, the operating income increased by 13.8%, from the prior year.
Explanation:
a) Data and Calculations:
Tarrow Corporation:
Recent Year Prior Year Change Percentage
Revenue $386,972 $356,000 $30,972 8.7% Increase
Operating expenses 326,634 303,000 23,634 7.8% Increase
Operating income $60,338 $53,000 $7,338 13.8% Increase
Lisa Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Lisa Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 105 $38 3/3 Purchase 65 $50 3/4 Sales 60 $80 3/10 Purchase 195 $50 3/16 Sales 90 $90 3/19 Sales 70 $95 3/25 Sales 55 $90 3/30 Purchase 35 $65
Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $ eTextbook and Media Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $ eTextbook and Media Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31. Ending Inventory $
Answer:
Lisa Company
a. Cost of goods sold (FIFO) = $12,490
b. Cost of Ending Inventory (LIFO) = $5,695
Explanation:
a) Data and Calculations:
Inventory system = Perpetual
Purchases Sales Units Unit Cost Units Selling Total Total
Price/Unit Costs Revenue
3/1 Beginning inventory 105 $38 $3,990
3/3 Purchase 65 $50 3,250
3/4 Sales 60 $80 $4,800
3/10 Purchase 195 $50 9,750
3/16 Sales 90 $90 8,100
3/19 Sales 70 $95 6,650
3/25 Sales 55 $90 4,950
3/30 Purchase 35 $65 2,275
3/31 Total 400 275 $19,265 $24,500
Ending inventory = 125 (400 - 275)
Cost of goods sold (FIFO):
Ending inventory cost:
3/30 Purchase 35 $65 $2,275
3/10 Purchase 90 $50 4,500
Total cost of ending inventory = $6,775
Cost of goods available for sale = $19,265
Total cost of ending inventory = $6,775
Cost of goods sold = $12,490
LIFO (under perpetual inventory system):
Cost of Ending Inventory:
3/1 Beginning inventory 90 $38 $3,420
3/30 Purchase 35 $65 2,275
Total 125 $5,695
b) The LIFO method under perpetual inventory system assumes that 275 units of goods sold were picked from the purchases made on March 3 and March 10, with the remaining 15 units from the beginning inventory. This will leave 90 units in the beginning inventory and 35 purchased on March 30 to constitute the ending inventory.
Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $300,000 February 500,000 March 750,000 All sales are on account. Seventy-five percent of sales are expected to be collected in the month of the sale, 20% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March. Enter all amounts as positive numbers.
Answer:
January = $225,000
February = $435,000
March = $677,500
Explanation:
Use the collection policy given to guide your calculations for cash collection.
Month`s Collection = 75 % of Current Month`s Sale + 20 % of Previous Month`s Sale + 5 % of Second Previous Month` Sales
Therefore cash collections for January, February, and March will be :
January = $300,000 x 75 % = $225,000
February = $500,000 x 75 % + $300,000 x 20% = $435,000
March = $750,000 x 75 % + $500,000 x 20 % + $300,000 x 5 % = $677,500
A schedule indicating cash collections from sales for January, February, and March will indicate the following Total Collections :
January = $225,000
February = $435,000
March = $677,500
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:
Jan.
6 Sold goods for $1,400 to S. Green and billed that amount subject to terms 3/10, n/30.
6 Sold goods to M. Munoz for $690 and billed that amount subject to terms 3/10, n/30.
14 Collected cash due from S. Green. Feb. 2 Collected cash due from M. Munoz.
28 Sold goods for $400 to R. Reynolds and billed that amount subject to terms 3/10, n/45.
Required:
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.
Answer:
the net sales for the two months is $2,448
Explanation:
The computation of the net sales for the two months is shown below:
= Sale made on Jan 6 + sale made on Jan 6 + sales made on Feb 28 - discount on sale made on Jan 6
= $1,400 + $690 + $400 - ($1,400 × 3%)
= $2,490 - $42
= $2,448
hence, the net sales for the two months is $2,448
The same is to be considered