Answers
Answer:
c
Explanation:
I thinks it's c because when you deal with stress, you can't do a lot of other things
Related Questions
Analysis of cash flows, analysis of competing hypotheses, consideration of analytical and accounting anomalies, big data and data analytics, consideration of the fraud triangle, use of graphical tools for analysis and communication, internal controls, the control environment and opportunity, interviewing for information and admissions, analysis of nonaccounting and nonfinancial numbers and metrics, financial statement and ratio analysis, consideration of red flags, and analysis of related parties are all examples of:
Answers
Answer:
Forensic accounting and fraud examination tools/techniques.
Explanation:
Forensic accounting is one that make use of auditing as well as accounting and investigative skills in conducting examination about the Businesses and individuals finances. It gives accounting analysis that could be used in legal proceedings. It is one of the tools/ techniques for fraud examination
The company recorded $5,000 sales with 60% contribution margin ratio in 2019. According to the sales manager, the company can increase the sales volume by 30% this year if the company spends $400 as advertisement expense and decreases the selling price by 10%, while unit variable cost remains the same. If CEO approves the plan, how does it affect the net operating income in 2020
Answers
Answer:
$150 Decrease
Explanation:
Income Statement
Present Proposed
Sales $5,000 $5,350 [(5000+30%)-10%]
Variable 10% $2,000 $2,000 (2000*130%)
Contribution Margin $3,000 $3,250
Fixed cost - $400
Net Operating Income $3,000 $2,850
Effect on Net Operating Income = $2,850 - $3,000 = -$150
Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 54,000 labor-hours. The estimated variable manufacturing overhead was $7.90 per labor-hour and the estimated total fixed manufacturing overhead was $961,200. The actual labor-hours for the year turned out to be 56,300 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. (Round your answer to 2 decimal places.)
Answers
Answer:
$17.80 per labor-hour
Explanation:
Predetermined overhead rate = Budgeted Fixed Overheads ÷ Budgeted Activity
= $961,200 ÷ 54,000 labor-hours
= $17.80 per labor-hour
Predetermined overhead rate for the recently completed year is $17.80 per labor-hour.
Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 30,000 bottles of wine were sold every week at a price of $6 per bottle. After the tax, 25,000 bottles of wine are sold every week; consumers pay $8 per bottle, and producers receive $5 per bottle (after paying the tax). The amount of the tax on a bottle of wine is $ per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers. True False
Answers
Answer:
The amount of tax is:
= Price paid by consumers - Price received by producers
= 8 - 5
= $3
Burden on consumers:
= Price after tax - Price before tax
= 8 - 6
= $2
Burden on Producers:
= Amount received before tax - Amount received after tax
= 6 - 5
= $1
The effect of the tax on the quantity sold would have been smaller if the tax had been levied on consumers. ⇒ FALSE.
Tax effects are the same regardless of if levied on consumers directly or on producers.
On February 1, 2021, the Xilon Corporation issued 47,000 shares of its no-par common stock in exchange for five acres of land located in the city of Monrovia. On the date of the acquisition, Xilon's common stock had a fair value of $16 per share. An office building was constructed on the site by an independent contractor. The building was completed on November 2, 2021, at a cost of $6,800,000. Xilon paid $4,400,000 in cash and the remainder was paid by the city of Monrovia.
Assuming that Xilon prepares its financial statements according to International Financial Reporting Standards, select all the correct alternatives the company has for recording the acquisition of the office building.
a. Same treatment as GAAP.
b. Deduct the amount of the grant in determining the initial cost of the office building.
c. Record the grant as a liability, deferred income, in the balance sheet and recognize it in the income statement systematically over the office building's useful life.
Answers
Answer:
a. Same treatment as GAAP.
Explanation:
the journal entry should be:
Dr Land 752,000
Dr Building 6,800,000
Cr Common stock 752,000
Cr Cash 4,400,000
Cr Donation revenue 2,400,000
the donation is not a deferred liability, nor the basis of the building be reduced by it.
Suppose one-seventh of the employees of a certain company work in the Southeastern region. If the company employs 256 workers in that region, what is the total number of employees working for the company?
Answers
Answer:
1792
Explanation:
256 is 1 out of 7.
so 7 times 256 is 7 out of 7
256 x 7 = 1792
In a recent benefit-cost analysis of a proposed regulation that generated positive net benefits in the present but negative net benefits in the future, the government used a 5% social discount rate. If it had instead used a 7% social discount rate, the net present value of the policy would have been ______; if it had used a 10% social discount rate, the net present value would have been ______.
Answers
Answer:
A) Lower; lower
Explanation:
Here are the options of this question :
A) Lower; lower B) Lower; higher C) Higher; lower D) Higher; higher
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
The lower the the discount rate, the higher the NPV and the discount the interest rate, the lower the NPV
7% and 10% are both higher than 5% so NPV would be lower in both instances
Let us USE an example
Cash flow in year 0 = $-10,000
Cash flow in year 1 and 2 = 100,000
NPV when discount rate is 5% = $262,324.48
NPV when discount rate is 7% = $252431.60
NPV when discount rate is 10% = $238,685.20
We can see NPV was highest when discount rate is 5%
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
The correct statement is that the net present value of the policy would have been lower at a 7% discount rate, and also it would be lower at a 10% discount rate.
Cost benefit analysis can be used to calculate the net present value of a policy that is proposed to be adopted and at such rate whether such adoption is beneficial or not.
Cost Benefit Analysis Cost benefit analysis is referred to as a method of analysis of costs that are borne by an organization and the predicted projections when applied are sensible to be adopted or not. It is observed that the normal discount rate of the policy is 5% and hence when the government adopts a slightly higher discount rate of 7 and 10 percent the NPV will ultimately be lower.Hence, using the basic implications of cost-benefit analysis, it can be concluded that the net present values of the policies will be lower at discount rates of 7 and 10 percent respectively.
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how do you propagate
Answers
Answer:
Explanation:
There are three ways to propagate a plant: dividing (separating an already growing plant into two), rooting a leaf (typically done with succulents), or rooting a cutting (a small stem with leaves).
what are the 4 P's of storytelling
Answers
Answer:
I believe it is People, Passion, Purpose and Product
Explanation:
Answer:
People, Passion, Purpose, and Product.
Explanation:
When crafting a good story you need to keep the following four elements in mind: People, Passion, Purpose, Product.
People – Your story should describe the role you play in people’s lives. Therefore, your story needs to resonate with the listener. To do so, first write for the emotions you want to elicit then find the words that help you convey them.
Passion – Effective storytelling helps erase doubts in a prospect’s mind. Since what you’re really doing when you’re agvocating is selling you and your industry, a properly crafted story can garner attention, dispel doubts and solidify the truth, help build critical relationships, and resonate enough to leave a lasting impression. Finding the fodder for a well-crafted story means drawing on the passion and belief you have in your life’s work and speaking from the heart.
Purpose – Stories can help increase the value of a product. In a 2009 experiment, a couple of researchers bought $129 worth of junk at garage sales then put it all up for sale on eBay, but only after they added a ‘background’ story about each piece. They ended up making $3,600 on $129 worth of stuff due to people connecting emotionally with each piece through the story. Your purpose as an agvocate is to not only spread correct information about Canadian agriculture, but to elevate the brand by demonstrating its value to individuals and society.
Product – Don’t focus solely on the product. While it might be the best thing since sliced bread (and I think we can all agree farming is pretty great – who doesn’t love or need to eat?!), an amazing product in and of itself doesn’t necessarily make a great story. The reason behind (the passion, the benefits) the product, however, can be captivating.
Bryan Inc. produces a specialty top-quality juice machine. The product, the JM50, requires four processes to be completed. Specifically, these processes are exterior construction, pulp filter insertion, painting, and packaging. Each process is performed at separate workstations with different completion rates: Exterior construction can manufacture 100,000 juicer exteriors per day. Pulp filter insertion can install 25,000 filters every 6 hours. Painting can decorate 3,000 juicers every half hour. Packaging can package 5,000 juicers per hour. The plant operates 24/7, 24 hours a day every day of the week. How many JM50 machines can Bryan Inc. manufacture per month (assume an average 30-day month)
Answers
Answer:
3,000,000 juicers
Explanation:
Maximum numbers per workstation in 30 days:
Exterior construction = 100,000*30 = 3,000,000
Pulp filter = 25,000*24/6*30 = 3,000,000
Painting = 3,000*24/0.5*30 = 4,320,000
Packaging = 5,000*24*30 = 3,600,000.
The lowest of the numbers above is 3,120,000 and that means that Bryan inc. can manufacture 3,000,000 juicers.
A manufacturer of prototyping equipment wants to have $3,000,000 available 10 years from now so that a new product line can be initiated. If the company plans to deposit money each year, starting 1 year from now, the equation that represents how much the company is required to deposit each year at 10% per year interest to have the $3,000,000 immediately after the last
deposit is:___________
(a) 3,000,000(A∕F,10%,10)
(b) 3,000,000(A∕F,10%,11)
(c) 3,000,000 + 3,000,000(A∕F,10%,10)
(d) 3,000,000(A∕P,10%,10)
Answers
Answer:
The correct option is (a) 3,000,000(A∕F,10%,10).
Explanation:
Ordinarily, the equation to use to calculate the amount the company is required to deposit each year is given as follows:
A = F * (r / ((1 + r)^n - 1)) ....................... (1)
Where;
A = Annual deposit = ?
F = Future value or accumulated sum of amount = $3,000,000
r = Annual interest rate = 10%, or 0.01
n = Number of years.
The standard notation of equation (1) above is given as follows:
A = F(A / F, r, n) ................................ (2)
Substituting the relevant description from the above into equation (2), we have:
A = 3,000,000(A∕F,10%,10)
Therefore, the correct option is (a) 3,000,000(A∕F,10%,10).
RentAPhone is a new service company that provides European mobile phones to American visitors to Europe. The company currently has 80 phones available at Charles de Gaulle Airport in Paris. There are, on average, 25 customers per day requesting a phone. These requests arrive uniformly throughout the 24 hours the store is open. The corresponding coefficient of variation is 1.
Customers keep their phones on average 72 hours. The standard deviation of this time is 100 hours. Given that RentAPhone currently does not have a competitor in France providing equally good service, customers are willing to wait for the telephones. Yet, during the waiting period, customers are provided a free calling card. Based on prior experience, RentAPhone found that the company incurred a cost of $1 per hour per waiting customer, independent of day or night.
a. What is the average number of telephones the company has in its store?
b. How long does a customer, on average, have to wait for the phone?
c. What are the total monthly (30 days) expenses for telephone cards?
d. Assume RentAPhone could buy additional phones at $1,000 per unit. Is it worth it to buy one additional phone? Why?
e. How would waiting time change if the company decides to limit all rentals to exactly 72 hours? Assume that if such a restriction is imposed, the number of customers requesting a phone would be reduced to 20 customers per day.
Answers
Answer:
Answer:- m = 80
a = 24 hours / 25 customers = 0.96 hours
p = 72 hours
u = p/(m x a) = 72 /(80×0.96)=0.9375
On average 93.75% of the phones are in use. 0.9375 x 80 = 75 phones are in use. Thus, 5 phones are available on average.
From above it is clear that 93.75%% of total phones are in use therefore total number of cell phones in use = 0.9375*80=75
So only 5 phones are available.
Answer:- CVa =1, CVp = 100/72 = 1.3889
Tq =( 72/80*[(0.9375 √2*80+1)-1]/(1-0.9375) * (12+1.88892)/2) = 9.89 hour
Thus average waiting time = 9.89 hours
Explanation:
Answer:- m = 80
a = 24 hours / 25 customers = 0.96 hours
p = 72 hours
u = p/(m x a) = 72 /(80×0.96)=0.9375
On average 93.75% of the phones are in use. 0.9375 x 80 = 75 phones are in use. Thus, 5 phones are available on average.
From above it is clear that 93.75%% of total phones are in use therefore total number of cell phones in use = 0.9375*80=75
So only 5 phones are available.
Answer:- CVa =1, CVp = 100/72 = 1.3889
Tq =( 72/80*[(0.9375 √2*80+1)-1]/(1-0.9375) * (12+1.88892)/2) = 9.89 hour
Thus average waiting time = 9.89 hours
A company's income statement showed the following: net income, $115,000; depreciation expense, $30,500; and gain on sale of plant assets, $4,500. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $9,500; merchandise inventory increased $18,500; prepaid expenses increased $6,300; accounts payable increased $3,500. Calculate the net cash provided or used by operating activities.
Answers
Answer:
$129,200
Explanation:
Cash flow from Operating activities
net income, $115,000
adjust for non cash items :
depreciation expense, $30,500
gain on sale of plant assets, ($4,500)
adjust for changes in working capital :
decrease in accounts receivable $9,500
increase in merchandise inventory ($18,500)
increase in prepaid expenses ($6,300)
increase in accounts payable $3,500
Cash flow from Operating Activities $129,200
i develop my abilities through
Answers
You project revenue to start at $5,000 for the first month and grow by $200 each month thereafter. You project expenses to begin at $7,000 per month and grow by $50 per month. In what month will you break even (revenue equal to expenses)?
Answers
Answer: 14
Explanation: i took the quiz
In the 13th month will you break even (revenue equal to expenses).
What is revenue?Revenue is the entire amount of money made through the sale of products and services that are essential to the business's core competencies. Sale or turnover are other terms used to describe advertising revenues.
To make two equations equivalent, we must write them down.
The first one will appear as follows:
200x + 5,000
The x will match the 200 since after the initial $5,000, the program's revenue increases by $200 per month.
The second equation will have the following form:
50x + 7,000
The x will follow the 50 because the project starts out at $7,000 and expands by $50 every month.
Set both now identical to one another.
200x + 5,000 = 50x + 7,000
150x + 5,000 = 7,000
150x = 2,000
x = 13.333
The project therefore will reach breakeven in the 13th month.
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Eddie is a production engineer for a major supplier of component parts for cars. He has determined that a robot can be installed on the production line to replace one employee. The employee earns $20 per hour and benefits worth $8 per hour for a total annual cost of $58,240 this year. Eddie estimates this cost will increase 6% each year. The robot will cost $16,500 to operate for the first year with costs increasing by $1500 each year. The firm uses an interest rate of 15% and a 10-year planning horizon. The robot costs $75,000 installed and will have a salvage value of $5000 after 10 years. Should Eddie recommend that purchase of the robot
Answers
Answer:
Eddie should recommend the purchase of the robot.
Explanation:
This can be determined using the following 3 steps:
Step 1: Calculation of the present worth (PW) of the cost of one employee
This can be calculated using the formula for calculating the the present value (PV) of a growing annuity as follows:
PWE = (P / (r - g)) * (1 - ((1 + g) / (1 + r))^n) .................... (1)
Where;
PWE = Present worth of the cost of one employee = ?
P = first or this year annual cost = $58,240
r = interest rate = 15%, or 0.15
g = annual growth rate of cost of the one employee = 6%, or 0.06
n = number of years = 10
Substituting the values into equation (1), we have:
PWE = ($58,240 / (0.15 - 0.06)) * (1 - ((1 + 0.06) / (1 + 0.15))^10) = $360,654.33
Step 2: Calculation of the present worth (PW) of the cost of the robot
This can be calculated using the following formula:
PWR = C + ((P / (r - g)) * (1 - ((1 + g) / (1 + r))^n)) - (SV / (1 + r)^n) .................... (2)
Where;
PWR = Present worth of the cost of the robot = ?
C = cost of installing the robot = $75,000
P = first year cost of operating the robot = $16,500
r = interest rate = 15%, or 0.15
g = annual growth rate of cost of operating the robot = Annual increase in cost / P = $1500 / $16,500 = 0.0909090909090909
n = number of years = 10
SV = Salvage value = $5,000
Substituting the values into equation (2), we have:
PWR = $75,000 + (($16,500 / (0.15 - 0.0909090909090909)) * (1 - ((1 + 0.0909090909090909) / (1 + 0.15))^10)) - (SV / (1 + 0.15)^10) = $188,227.75
Step 3: Recommendation
PWE = Present worth of the cost of one employee = $360,654.33
PWR = Present worth of the cost of the robot = $188,227.75
Since present worth of the cost of the robot of $188,227.75 is lower than the present worth of the cost of one employee of $360,654.33, Eddie should recommend the purchase of the robot.
When originally purchased, a truck costing BD 23.000 had an estimated useful life of 8 years and an estimated salvage value of BD 3,000. After 4 years of
straight-line depreciation, the ascet's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage valoe. The
depreciation expense in year 3 cquals:
ABD 5,000
O & BD 5.750.
O CBD 2.875.
ODBD 2,500.
Answers
Answer:
d. BD 2,500
Explanation:
Accumulated Depreciation through the end of year 4 = [ Asset's cost - Salvage Value) / Estimated Useful Life] * Years Elapsed
= [(23,000 - 3,000)/8] * 4
= BD 10,000
Depreciation in Year 3 = [Asset's cost - Salvage Value - Accumulated Depreciation] / Remaining Estimated Useful Life
Depreciation in Year 3 = [23,000 - 3,000 - 10,000] / 4
Depreciation in Year 3 = 10,000 / 4
Depreciation in Year 3 = BD 2,500
ADVANCED ANALYSIS Assume the following values for the figures below: Q1 = 20 bags. Q2 = 15 bags. Q3 = 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions. Instructions: Enter your answers as a whole number. a. What is the dollar value of the total surplus (= producer surplus + consumer surplus) when the allocatively efficient output level is produced? $ What is the dollar value of the consumer surplus at that output level? $ b. What is the dollar value of the deadweight loss when output level Q2 is produced? $ What is the total surplus when output level Q2 is produced? $ c. What is the dollar value of the deadweight loss when output level Q3 is produced? $
Answers
Answer:
Follows are the solution to the given question:
Explanation:
For point a:
When efficient level Q1 is produced, the dollar amount of the total surplus (production company excess plus its consumer excess) is provided
Surplus consumer area + Surplus manufacturer area
= Triangle Area ABC:
[tex]= \frac{1}{2}\times ac \times Q_1 \\\\= \frac{1}{2}\times (85 - 5) \times 20 \\\\= \frac{1}{2}\times 80 \times 20 \\\\= \$ 800[/tex]
So, the total amount of surplus in 5.4a is $800. The dollar value of its surplus is calculated by the output Q1
[tex]= \frac{1}{2}( \text{choke price} - \text{equilibrium price}) \times \text{equilibrium quantity}\\\\= \frac{1}{2}\times (85 - 45)\times 20 \\\\ = \frac{1}{2}\times 40 \times 20 \\\\=$400[/tex]
so, the consumer surplus = $400.
For point b:
Whenever the output level Q2 is produced, the unit price of the loss of demise is calculated by the sheltered region in figure 5.4 a
= Triangle Area dbe:
[tex]= \frac{1}{2} \times(de) \times (Q_1-Q_2) \\\\= \frac{1}{2} \times (55 - 35) \times 5 \\\\= \frac{1}{2} \times (20) \times 5 \\\\ = \$50[/tex]
So, the deadweight loss = $50. The total surplus for output Q2 is determined by the trapezium suitable area
[tex]= \frac{1}{2} \times (ac + de) \times Q_2\\\\= \frac{1}{2} \times (80 + 20) \times 15\\\\= \frac{1}{2} \times 100 \times 15\\\\= \$ 750.[/tex]
So, the total surplus is $750
For point c:
The value of its deadweight loss in dollars in Q3 can be seen in figure 5.4b in the shaded area provided by
= The triangle area bfg
[tex]= \frac{1}{2} \times (fg) \times (Q_3-Q_1)\\\\= \frac{1}{2} \times (59 - 31) \times 7 \\\\= \frac{1}{2} \times 28 \times 7 \\\\ = \$98[/tex]
The deadweight loss is $98.
The total excess at output level Q3 is calculated by removing the deadweight loss from the maximum excess. It implies a quantity of between $800 - $98 = $702.
In the incident of oversupply, the consumer supply is, therefore, $702.
On November 1, 2021, Aviation Training Corp. borrows $51,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is payable at maturity. Aviation’s year-end is December 31.
Required:
1. Record the necessary entries .
2. Record the issuance of note.Record the adjustment for interest.
3. Record the repayment of the note at maturity.
Answers
Answer:
1. November 01,2021
Dr Cash 51000
Cr Notes Payable 51000
2. December 31,2021
Dr Interest expense 510
Cr Interest Payable 510
3. February 01,2022
Dr Interest expense 510
Dr Interest Payable 255
Dr Notes Payable 51000
Cr Cash 51,765
Explanation:
Preparation of to record the necessary entries
1. November 01,2021
Dr Cash 51000
Cr Notes Payable 51000
(Being to Record the issuance of note)
2. December 31,2021
Dr Interest expense 510
(51,000*6%*2/12)
Cr Interest Payable 510
(Being to record the adjustment for interest)
3. February 01,2022
Dr Interest expense 510
Dr Interest Payable 255
(51,000*6%*1/12)
Dr Notes Payable 51000
Cr Cash 51,765
(510+255+51000)
(Being to Record the repayment of the note at maturity)
You are an employee of an US firm that produces personal computers in Thailand and then exports them to the US and other countries for sale. The personal computers were originally produced in Thailand to take advantage of relatively low labor costs and a skilled workforce. Other possible locations considered at that time were Malaysia and Hong Kong. The US government decides to impose punitive 100% ad valorem tariffs on imports of computers from Thailand to punish the country for administrative trade barriers that restrict US exports to Thailand. How should your firm respond? What does this tell you about the use of targeted trade barriers?
Answers
Answer:
In the short-run, I will encourage my firm to export the computers to Canada first, directly from Thailand. From Canada, the computers can be exported into the USA. But this is not the long-term solution. There will be need to find another country in which production will be cost-effective and from which the goods can be exported directly into the USA.
Another approach would be to engage in lobbying, within acceptable rules, the governments of Thailand and the US to end the administrative barriers.
Explanation:
There is no single economy that benefits from trade restrictions. Therefore, every effort should be made to reduce, to the barest minimum, all forms of trade barriers, which stunt economic growth and development. Give and take, in the spirit of competition, should be encouraged at all times.
Use the following to answer questions 5-8
Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or the company balance. Use the number 1-4) for your response. For instance, if the amount should be added to bank statement balance you would input 1.
1. Added to bank statement balance
2. Subtracted from bank statement balance
3. Added to company cash balance
4. Subtracted from company cash balance
Item
5 Bank deducted too much out of the checking account
6 Bank charge for new checks ordered for the checking account
7 Interest earned on the checking account
8 Checks written but have not cleared the bank yet
Use the following to answer questions 9-11 On February 28th, the general ledger of CAC shows a balance for cash of $220,000 Cash receipts yet to be deposited into the checking account total $126,000, while checks written by CAC but not yet processed by the bank total $147,500. The company's balance of cash does not reflect a NSF check of $119, a service fee of $20 and interest earned of $32 and a customer payments collected by the bank of $6,250; however, these amounts are included in the balance of cash of $247,643 reported by the bank as of the end of February
Answer the following based on the process of doing the bank reconciliation:
9. $________ Determine the total amount that is used to reconcile the Bank balance include if needed):
10. _______Determine the total amount that is used to reconcile the Company cash balance (include "-" if needed)
11. ________What is the balance in the company's cash account after the reconciliation?
Answers
Answer:
Item Identification
5. Bank deducted too much out of Added to bank statement balance
the checking account
6. Bank charges for new checks Subtracted from company cash
ordered for the checking amount
balance
7. Interest earned on the checking Added to company cash balance
account
8. Checks written but have not Subtracted from bank statement
cleared the bank yet balance
9. Total sum of amount used to reconcile the bank balance = Deposit in transit - Outstanding checks = $126,000 - $147,500 = -$21,500
10. Total amount used to reconcile the company cash balance = Interest earned - NSF check - Service fee + Customer payment collected by bank = $32 - $119 - $20 + $6,250 = $6,143
11. Balance in company's cash account after reconciliation = Cash balance on Feb 28 + Total amount used to reconcile the company cash balance = $220,000 + $6,143 = $226,143
Suppose that there are two types of employees: Narutos and Sasukes. Employers cannot distinguish between the two types during a job. interview, but they value Narutos more because everyone is more productive around them. Assume that the value of a Sasuke-type employee is $10 and the value of a Naruto type is $20. Also assume that the cost of education for a Sasuke is 2.5y and the cost of education for a Naruto is 2y, where y is years of education. If Narutos make up 25% ofthe population:
a. What is the pooling equilibrium wage?
b. What values of y will lead to a separating equilibrium?
Answers
Answer:
Explanation:
From the given information:
The average wage is expected to be paid to both workers since it is difficult tot distinguish between the two types.
w_s = 10
w_N = 20
ω_s = 2.5y
ω_N = 2y
proportion of N types (λ) = 0.25
proportion of S types (1-λ) = 0.75
Thus, the pooling wage = λ_Nw_N + λ_Sw_S
= (0.25 × 20) + (0.75 × 10)
= 5.0 + 7.5
= $12.5
(b)
The separating equilibrium can be computed as follows:
N-type ( High type) : w_N- w_S > ω_N
= 20 - 10 > 2y
2y < 10
y < 5
For an S-type (low type); the cost of education needs to be greater than the increment in wages if the education is acquired.
w_N- w_S > ω_S
If education is acquired, S-type will get wages as of N-types
Thus;
20-10 <2.5y
10 < 2.5y
y > 4
Hence, the value of y= (4,5)
Harold Manufacturing produces denim clothing. This year, it produced 5,000 denim jackets at a manufacturing cost of $45 each. These jackets were damaged in the warehouse during storage. Management investigated the matter and identified three alternatives for these jackets. Jackets can be sold as is to a secondhand clothing shop for $6 each.Jackets can be disassembled at a cost of $32,000 and sold to a recycler for $12 each.Jackets can be reworked and turned into good jackets. However, with the damage, management estimates it will be able to assemble the good parts of the 5,000 jackets into only 3,000 jackets. The remaining pieces of fabric will be discarded. The cost of reworking the jackets will be $102,000, but the jackets can then be sold for their regular price of $45 each.Required:1. Calculate the incremental income.
Answers
Answer:
ALTERNATIVE 1 $30,000
ALTERNATIVE 2 $28,000
ALTERNATIVE 3 $33,000
Explanation:
Calculation for the incremental income
ALTERNATIVE 1 Sell as it is
Incremental revenue $30,000
(5,000*$6)
Incremental costs $0
Incremental Income $30,000
ALTERNATIVE 2 Disassemble and sell to recycler
Incremental revenue $60,000
(5,000*$12)
Incremental costs $32,000
Incremental Income $28,000
ALTERNATIVE3 Rework and turn into good jackets
Incremental revenue $135,000
(3,000*$45)
Incremental costs $102,000
Incremental Income $33,000
Therefore based on the above calculation the company should choose ALTERNATIVE 3 of the amount of $33,000
Garcia Industries has sales of $176,500 and accounts receivable of $18,500. Assume all sales to be on credit. The industry average DSO is 27 days, based on a 365-day year. If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the industry average, and if it earns 3.0% on any cash freed-up by this change, assuming other things are held constant, by how much would the net income be affected?
Answers
Answer:
$163.32
Explanation:
Days Sales Outstanding = 365 * Accounts receivable / Sales
If the Days Sales Outstanding falls to the industry average:
27 = 365 * Accounts receivable / $176,500
27 * $176,500 = 365 * Accounts receivable
Accounts receivable = 27 * $176,500 / 365
Accounts receivable = $13,056.16
Increase in net income = Decrease in accounts receivable * 3%
Increase in net income = ($18,500 - $13,056.16) * 3%
Increase in net income = $5,443.84 * 3%
Increase in net income = $163.3152
Increase in net income = $163.32
Newland Company reported retained earnings at December 31, 2019, of $310,000. Newland had 200,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.50 per share was declared and paid. 2. A 5% stock dividend was declared and distributed when the market price per share was $15 per share. 3. Net income was $285,000. Compute the ending balance in retained earnings at the end of 2020.
Answers
Answer:
$495,000
Explanation:
retained earnings December 31, 2019 = $310,000
cash dividends = 200,000 x $0.50 = $100,000
net income during 2020 = $285,000
ending balance of retained earnings for December 31, 2020 = $495,000
stock dividends do not affect retained earnings
"Insurance is a waste of money. If and when you suffer a financial loss because of an
accident or some other event, you can pay for it from your savings account."
Do you agree or disagree with this statement?
Explain your position.
Answers
Answer:
disagree
Explanation:
As a personal opinion I strongly disagree with this statement. This is because for the majority of the people on Earth that live day to day with their finances, an accident can completely wreck them financially. A simple car, house, or health accident can cost thousands of dollars in loss or even hundreds of thousands. Most people would not have 10% of that in a savings account. Therefore, Insurance can be extremely helpful and in most cases cover the entirety of the accident which can (in a way) give you a second chance.
what is the main aims of forming a maize milling company
Answers
Answer:
to provide I
or produce mealie meal for the country and improve the country's production in food and farming.
Retained earnings, December 31, 2019 $315,450
Decrease in total liabilities during 2019 68,700
Gain on the sale of buildings during 2019 24,150
Dividends declared and paid in 2019 6,750
Proceeds from sale of common stock in 2019 74,100
Net income for the year ended December 31, 2019 33,900
Required:
From the above data, calculate the retained earnings balance as of December 31, 2018. (Enter decreases with a minus sign to indicate a negative financial statement effect.)
Answers
Answer:
See below
Explanation:
Ending retained earnings = Beginning retained earnings + net profit - dividend
$315,450 = Beginning retained earnings + $33,900 - $6,750
Beginning retained earnings = $288,300
Therefore, retained earning balance is $288,300
Which of these is a renewable marine resource that could be utilized to produce electricity?
Answers
Answer:
Hydro energy
Explanation:
Hydro energy is a renewable marine resource that can be used to generate electricity.
It is derived from a dam that enables the formation of a controlled flow of water that will steer a turbine, thereby generating electricity.
Another renewable marine resource is Tidal energy that uses tidal currents to propel turbine generators in generating electricity.
Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,200, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $66,720. Shore paid freight of $1,800. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. Inventory fill in the blank 002d1202e07bfb8_2 fill in the blank 002d1202e07bfb8_3 Accounts Payable fill in the blank 002d1202e07bfb8_5 fill in the blank 002d1202e07bfb8_6 Accounts Payable fill in the blank 002d1202e07bfb8_8 fill in the blank 002d1202e07bfb8_9 fill in the blank 002d1202e07bfb8_11 fill in the blank 002d1202e07bfb8_12 fill in the blank 002d1202e07bfb8_14 fill in the blank 002d1202e07bfb8_15 fill in the blank 002d1202e07bfb8_17 fill in the blank 002d1202e07bfb8_18 fill in the blank 002d1202e07bfb8_20 fill in the blank 002d1202e07bfb8_21 fill in the blank 002d1202e07bfb8_23 fill in the blank 002d1202e07bfb8_24 Journalize Blue Star Co.'s entry for the sale, purchase, and payment of amount due. If an amount box does not require an entry, leave it blank. fill in the blank 2aa3cd04cfa0046_2 fill in the blank 2aa3cd04cfa0046_3 fill in the blank 2aa3cd04cfa0046_5 fill in the blank 2aa3cd04cfa0046_6 fill in the blank 2aa3cd04cfa0046_8 fill in the blank 2aa3cd04cfa0046_9 fill in the blank 2aa3cd04cfa0046_11 fill in the blank 2aa3cd04cfa0046_12
Answers
Answer:
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
Dr Accounts Payable $111,560
Cr Cash $111,560
Explanation:
Preparation of the journal entries for Shore Co.'s entry for the sale, purchase, and payment of amount due
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
[$112,000*(100%-2%)]
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
($109,760+$1,800)
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
($109,760+$1,800)
Dr Accounts Payable $111,560
Cr Cash $111,560
($109,760+$1,800)