Answer:
Opportunities to sign up for sessions with a life coach.
Explanation:
Since he wants to include psychological profiles as well as mentors in the program to raise efficiency. Jacob should use A life coach. A life coach can empower and help in setting and meeting goals. Increasing accountability accept for the personal growth of employee and also for career success.
In the middle level, accountability is important, a life coach would help you develop abilities in managerial duties, improve relationships, business goals.
Answer the below case problem, giving the legal issue, the governing law and the rationale in support of your conclusion.
Arthur Jensen, Inc., was a corporation engaged in the housing construction business.
Arthur Jensen set up and was the sole owner and president of the corporation. Alaska Valuation Service [AVS] conducted housing appraisals for Jensen on numerous occasions over the years. When AVS took the orders for appraisals, it was not aware that it was dealing with a corporation. It believed that it was dealing directly with Jensen [i.e., as a sole proprietor]. Jensen never specifically informed AVS of his status as the president of Arthur Jensen, Inc. When AVS was not paid for appraisal services that it had performed, AVS sued Arthur Jensen, attempting to hold him personally liable for the unpaid appraisals.
Arthur Jensen argued that he could not be personally liable because he had acted on behalf of his corporation.
1. Decide the case based on the above stated facts.
2. Assuming Arthur Jensen could be held personally liable, how could Arthur
Jensen have better protected himself? [we discussed this in class]
Answer:
1. Decide the case based on the above stated facts.
Corporations provide limited liability to their owners, and one person corporations are legal in all states. Depending on how Arthur handled his business, the corporate veil might or not be lifted. If he separated the corporate account and managed the corporation separately for his other assets, then he is not liable.
On the other hand, if he paid the bills using his personal account, or used the corporation's assets as his own, then the outcome might change. We are not given enough details.
2. Assuming Arthur Jensen could be held personally liable, how could Arthur Jensen have better protected himself?
Simple, he should sign as the president of the corporation and pay using the corporation's account.
Identify what type of unemployment each of the individuals faces.
1. James is an architect who has been laid off owing to a slump in the demand for property. He feels he will have to wait until the economy picks up before he can get a new job. James is facing Eric is an experienced project manager who lost his job at a tech start-up because the company's product failed to become popular. He is confident he can get a new job and has already rejected a number of offers.
2. Eric is facing Craig lost his job several months ago. He is having a hard time finding a job that pays him more than unemployment insurance does.
3. Craig is facing Sarah is a recent economics graduate who is entering a difficult labor market, due to a severe recession. She is continuing to look for work but is having a hard time getting interviews.
4. Sarah is facing Hamid has just graduated as a lawyer from an esteemed law school. He is confident of getting a job and has already refused a few lower‑paying jobs.
5. Hamid has just graduated as a lawyer from an esteemed law school. He confident of getting a job and has already refused a few lower paid jobs.
Answer:
1.James - CYCLICAL UNEMPLOYMENT
Eric frictional unemployment
2.Craig - structural unemployment
3. Sarah cyclical unemployment
4. Hamid - frictional unemployment.
Explanation:
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition . Structural unemployment tends to be permanent.
Frictional unemployment . the period of time a person is unemployed from the period he leaves his current job and the time he gets another job.
Voluntary unemployment : e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment : it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
Information concerning a product produced by Ender Company appears here: Sales price per unit $ 164 Variable cost per unit $ 94 Total annual fixed manufacturing and operating costs $ 434,000 Required Determine the following: Contribution margin per unit. Number of units that Ender must sell to break even. Sales level in units that Ender must reach to earn a profit of $182,000. Determine the margin of safety in units, sales dollars, and as a percentage.
Answer:
Results are below.
Explanation:
To calculate the unitary contribution margin, we need to use the following formula:
Contribution margin= selling price - unitary variable cost
Contribution margin= 164 - 94
Contribution margin= $70
Now, to determine the break-even point in units and sales dollars, we need to use the following formulas:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 434,000 / 70
Break-even point in units= 6,200
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 434,000 / (70 / 164)
Break-even point (dollars)= $1,016,800
The desired profit is $182,000:
Break-even point in units= (fixed costs + desired profit) / contribution margin per unit
Break-even point in units= (434,000 + 182,000) / 70
Break-even point in units= 8,800
Finally, the margin of safety in units, sales dollars, and as a percentage:
Margin of safety (units)= (current sales level - break-even point)
Margin of safety (units)= 8,800 - 6,200
Margin of safety (units)= 2,600
Margin of safety (dollars)= (8,800*164) - 1,016,800
Margin of safety (dollars)= $426,400
Margin of safety ratio= (current sales level - break-even point)/current sales level
Margin of safety ratio= 426,400 / 1,443,200
Margin of safety ratio= 0.295
Nancy, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $35,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $53,000. The restaurant begins operations on September 1.
Determine the amount Nancy can deduct in the current year for investigating these two businesses.
Answer:
$3,133.
As regard to opening a restaurant, investigation expense = 53,000 - 2000 = $51,000.
Explanation:
Before diving straight into the solution to this problem, let's take out some of the parameters given in the question above.
=> Nancy incurs $35,000 of expenses associated with the investigation of the possibility of expanding the chain into a city in the Northeast.
=> Nancy expenses for investigates opening a restaurant that will be part of a national restaurant chain are $53,000.
The first thing to do right now is to determine the value for the investigation as regard to the opening of a restaurant = [ 2000 × (51,000/180 months) × 4] = $3,133.
The next thing is to determine the value for the deduction which is available. This can be done below as:
The amount Nancy can deduct in the current year for investigating these two businesses = 5000 - [ 53000 - 50000] = $2, 000
As regard to opening a restaurant, investigation expense = 53,000 - 2000 = $51,000.
On March 1, 2019, Rasheed Company assigns $825,000 of its accounts receivable to the Third National Bank as collateral for a $600,000 loan due April 1, 2019. The assignment agreement calls for Rasheed Company to continue to collect the receivables. Third National Bank assesses a finance charge of 2.5% of the accounts receivable, and interest on the loan is 8% (a realistic rate of interest for a note of this type).
Required:
a. Prepare the March 1, 2019, journal entry for Rasheed Company.
b. Prepare the journal entry for Rasheed's collection of $750,000 (need to factor out discounts and sales returns) of the accounts receivable during March of 2019. Sales discounts of $8,000 apply, as well as $22,000 of sales returns.
c. On April 1, 2019, Rasheed paid Third National all that was due from the loan it secured on March 1, 2019. Prepare the journal entry to record this payment.
Answer:
A.Dr Cash 579,375
Dr Finance charge 20,625
Cr Loan payable 600,000
Dr Accounts Receivable Assigned 825,000
Cr Accounts Receivable 825,000
b) Dr Cash 750,000
Cr Sales discounts 8,000
Cr Sales returns 22,000
Cr Accounts Receivable Assigned 720,000
c)Dr Loan Payable 600,000
Cr nterest expense 4,000
Cr Cash 596,000
Explanation:
a. Preparation for March 1, 2019, journal entry for Rasheed Company
March 01,2019
Dr Cash 579,375
(600,000-20,625)
Dr Finance charge (825,000*2.5%) 20,625
Cr Loan payable 600,000
(Loan amount received)
March 01,2019
Dr Accounts Receivable Assigned 825,000
Cr Accounts Receivable 825,000
(Assigning Accounts receivable)
b.Preparation of the journal entry for Rasheed's collection of the amount of $750,000 of the accounts receivable during March of 2019
March, 2019
Dr Cash 750,000
Cr Sales discounts 8,000
Cr Sales returns 22,000
Cr Accounts Receivable Assigned 720,000
(750,000-8,000-22,000)
C.Preparation of the journal entry to record this payment.
April 01,2019
Dr Loan Payable 600,000
Cr nterest expense (600,000*8%*1/12) 4,000
Cr Cash 596,000)
(600,000-4,000)
(Loan settled along with interest)
What is a transition?
A. An animation that happens on a single slide
B. An outline format that uses roman numerals
C. An image file imported to a title slide
D. An effect that happens between slides
Answer:
d
Explanation:
i jus answered it
Answer:
d
Explanation:
i just took the test
Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2021, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,660,000. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows:
At 12-31-2021 At 12-31-2022 At 12-31-2023
Percentage of completion 10% 60% 100%
Costs incurred to date $370,000 $2,982,000 $5,031,000
Estimated costs to complete 3,330,000 1,988,000 0
Billings to Axelrod, to date 731,000 2,390,000 4,660,000
Required:
a. Compute gross profit or loss to be recognized as a result of this contract for each of the three years.
b. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years.
c. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2021 and 2022 as either cost in excess of billings or billings in excess of costs.
Answer:
Explanation:
Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2021, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,420,000. Curtiss concludes that the contract does not qualify for revenue recognition over time. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows: Percentage of completion Costs incurred to date Estimated costs to complete Billings to Axelrod, to date At 12-31-2021 At 12-31-2022 At 12-31-2023 10% 60% 100% $ 366,000 $2,814,000 $4,747,000 3, 294,000 1,876,000 727,000 2,310,000 4,420,000
Required:
1. Compute gross profit or loss to be recognized as a result of this contract for each of the three years.
2. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years.
3. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2021 and 2022 as either cost in excess of billings or billings in excess of costs.
How fast do you guys help students answer questions?
Answer:
it depends on who is answering, what the question is, and what you want in the question. regularly answers come within 5 minutes, but if its really complicated then those questions almost never get answered
Windsor, Inc. just began business and made the following four inventory purchases in June:
June 1 129 units $890 June 10 172 units 1340 June 15 172 units 1440 June 28 129 units 1140 $4810
A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 180 units on hand. The inventory method which results in the highest gross profit for June is:_______.
a. the FIFO method.
b. the LIFO method.
c. the average cost method.
d. not determinable.
Answer:
c. the average cost method.
Explanation:
Windsor INC. purchased inventory during the month of June as follows:
June 1 129 units at $890
June 10 172 units at $1340
June 15 172 units at $1440
June 28 129 units at $ 1140
and at the end of the period, there are 180 units on hand.
In order to get highest gross profit the closing sock should be the highest, accordingly the value of inventory at hand should as as follows under different method explain below:
Under FIFO method the inventory first enter into the enterprise is available for sale at first so the inventory of 180 units at end should be values at the last price mentioned in the question i.e $1140, therefore the value amounts to $1140*180 units=$205200
Under LIFO method, likewise the last entered inventory will be available for sale and the inventory at the end of period will be valued at the price at which the inventory first bought i.e $890, therefore the value amounts to 180 units*$890=$160200
Under Average cost method the effect of differential price is distributed over the quantity bough during a period so that the company remains in ineffective condition during the period from the price change
Average cost per unit= (129*$890 +172*$1340+ 172*$1440+129*$1140)/602 units
=$1229.29
and for the 180 units the value amounts to 180*$122.29=$221271.429
so, as per explanation given above, it is certain that the highest value will be in average cost method.
The correct option is - c. the average cost method.
Problem 8-15 Nonconstant Growth [LO1] Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $15 per share 10 years from today and will increase the dividend by 6 percent per year thereafter. If the required return on this stock is 12 percent, what is the current share price
Answer:
$84.14
Explanation:
P9 = Nest dividend (D10) / Required rate (r) - Growth rate (g)
P9 = $14 / 12% - 6%
P9 = $14 / 0.06
P9 = $233.33
P0 = P9 / (1+Required rate of return)^9
P0 = $233.33/(1+0.12)^9
P0 = $233.33/2.7731
P0 = $84.1404926
P0 = $84.14
So, the current share price is $84.14
Lonergan Company occasionally uses its accounts receivable to obtain immediate cash. At the end of June 2021, the company had accounts receivable of $920,000. Lonergan needs approximately $570,000 to capitalize on a unique investment opportunity. On July 1, 2021, a local bank offers Lonergan the following two alternatives:
A. Borrow $570,000, sign a note payable, and assign the entire receivable balance as collateral. At the end of each month, a remittance will be made to the bank that equals the amount of receivables collected plus 10% interest on the unpaid balance of the note at the beginning of the period.
B. Transfer $620,000 of specific receivables to the bank without recourse. The bank will charge a 3% factoring fee on the amount of receivables transferred. The bank will collect the receivables directly from customers. The sale criteria are met.
Required:
1. Prepare the journal entries that would be recorded on July 1 for:
a. alternative a.
b. alternative b.
2. Assuming that 70% of all June 30 receivables are collected during July, prepare the necessary journal entries to record the collection and the remittance to the bank for:____.
a. alternative a.
b. alternative b.
Answer:
1.
ALTERNATIVE A
01-Jul
Dr Cash $570,000
Cr Notes Payable $570,000
ALTERNATIVE B
01-Jul
Dr Cash 601,400
Dr Loss on sale of receivables $18,600
Cr Accounts Receivables $620,000
2.
ALTERNATIVE A
Dr Cash $644,000
Cr Notes Payable $644,000
Dr Interest Expense $4,750
Dr Notes Payable 570,000
Cr Cash 574,750
ALTERNATIVE B
Dr Cash $210,000
Cr Accounts Receivable $210,000
Explanation:
1. Preparation of the journal entries that would be recorded on July 1 for alternative a and
alternative b.
ALTERNATIVE A
01-Jul
Dr Cash $570,000
Cr Notes Payable $570,000
(Notes payable collected)
ALTERNATIVE B
01-Jul
Dr Cash 601,400
($620,000-$18,600)
Dr Loss on sale of receivables $18,600 (3%*$620,000)
Cr Accounts Receivables $620,000
(Remittance to bank)
2. Preparation of the necessary journal entries to record the collection and the remittance to the bank for alternative a and
alternative b.
ALTERNATIVE A
Dr Cash (920,000 x 70%) $644,000
Cr Notes Payable $644,000
Dr nterest Expense($570,000 x 10%x 1/12) $4,750
Dr Notes Payable 570,000
Cr Cash 574,750
($570,000+$4,750)
ALTERNATIVE B
Dr Cash [ (920,000 -620,000)x 70%] $210,000
Cr Accounts Receivable $210,000
Bob is a farmer and is required to use the accrual method. At the beginning of the year, Bob has inventory, including livestock held for resale, amounting to $10,000. During the year, Bob purchased livestock totaling $3,000. Bob's ending inventory was $4,000. Bob's net sales for the year totaled $17,000. What is Bob's gross profit for the current year
Answer:
$3,000
Explanation:
Gross Profit = Sales - Cost of Sales
Prepare a Trading Account for Bob to determine gross profit.
Statute of frauds is used as a defense to a lawsuit and not as an offense. For example, S owns a lot that B wishes to purchase. They enter into a verbal contract whereby B will deliver $6,000 at noon on Friday to S, and S will provide B with the deed to the property. If either party breaches the contract for the sale of the real estate lot and is sued by the other party, the defendant may raise statute of frauds as a defense, saying that there is nothing in writing or signed by the defendant.
Required:
What is the result?
Answer:
Since both parties can breach the contract without fearing any penalty as a result of doing it, its execution will depend on the good will of both parties. It will also require a coordinated action where B hands out the money at the same time they are receiving the deed. If both things do not occur simultaneously, for example, S promises to deliver the deed the next day or B promises to pay the next day, they will not do it. For example, B pays the $5,000 and S decides to increase the price to $10,000. Or S gives the deed and B says that the agreed price was $1,000.
An investor purchased a "par bond" for $300 with the principal $300. Over n = 5 years the bond will pay 8% coupon annually. Find the IRR of the cash flow stream (also called Yield to Maturity).
Answer:
8%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
Cash flow in year 0 = $-300
Cash flow each year from year 1 to 4 = [tex]\frac{8}{100}[/tex] × $300 = $24
Cash flow in year 5 = $300 + 24 = $324
IRR = 8%
To find the IRR 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 IRR button and then press the compute button.
LUVFINANCE, Inc. is estimating its WACC. It is operating at its optimal capital structure. Its outstanding bonds have a 12 percent coupon, paid semiannually, a current maturity of 17 years, and sell for $1,162. It has 100,000 bonds outstanding. The firm can issue new 20-year maturity semiannual bonds at par but will incur flotation costs of $50 per bond. The firm could sell, at par, $100 preferred stock that pays a 12 percent annual dividend that is currently selling for $120. The firm currently has 1,000,000 shares of preferred stock outstanding. Rollins' beta is 0.94, the risk-free rate is 3.72 percent, and the market risk premium is 6 percent. The common stock currently sells for $100 a share and there are 5,000,000 shares outstanding. The firm's marginal tax rate is 40 percent.
Required:
What is the WACC?
Solution :
Given :
The cost of the debt is yield to the maturity of the bonds.
The yield on the bond is 10%
The tax rate is 40%
After the tax cost of the debt = 10 ( 1- 0.4 )
= 6 %
Add floatation cost at the rate of 5% = 11%
Cost of the preferred stock = [tex]$\frac{\text{dividend}}{\text{price}}$[/tex]
= [tex]$\frac{120}{12}$[/tex] = 10%
The cost of equity = risk free rate + β x market risk premium
= 3.72 + 0.94 x 6
= 9.36%
WACC is weighted average of the individual securities :
Particulars Value per No. of Market value Weight Cost of Product
security securities security
Bonds 1162 100,000 116,200,000 0.1578 11 1.73621298
Preferred 120 1,000,000 120,000,000 0.1629 10 1.6299918
stocks
Equity 100 5,000,000 500,000,000 0.6791 9.36 6.356968
736,200,000 1 WACC 9.7231730
Therefore, WACC of the firm is 9.72%
Flexible Budget for Selling and Administrative Expenses for a Service Company Cloud Productivity Inc. uses flexible budgets that are based on the following data: Sales commissions 14% of sales Advertising expense 18% of sales Miscellaneous administrative expense $6,500 per month plus 12% of sales Office salaries expense $28,000 per month Customer support expenses $12,000 per month plus 20% of sales Research and development expense $30,000 per month Prepare a flexible selling and administrative expenses budget for March for sales volumes of $400,000, $500,000, and $600,000. (Use Exhibit 5 as a model.)
Answer:
Selling and administrative expenses budget for March
Sales Volume $400,000 $500,000 $600,000
Sales commissions at 14 % $56,000 $70,000 $84,000
Advertising expense at 18% $72,000 $90,000 $108,000
Miscellaneous at $6,500 + 12% $54,500 $66,500 $78,500
Office salaries at $28,000 $28,000 $28,000
Customer support at $12,000 + 20% $92,000 $112,000 $132,000
Research and development at $30,000 $30,000 $30,000
Total $332,500 $396,500 $460,500
Explanation:
A flexible is a budget that is adjusted to the actual activity. Thus, adjust the costs items to the appropriate Sales Volumes.
Inventory records for Dunbar Incorporated revealed the following:
Date Transaction Number Unit
of Units Cost
Apr. 1 Beginning inventory 550 $2.33
Apr. 20 Purchase 310 2.68
Dunbar sold 560 units of inventory during the month. Ending inventory assuming weighted-average cost would be:__________.
a. $737.
b. $694.
c. $817.
d. $752.
Answer:
a. $737.
Explanation:
The computation of the ending inventory using weighted average cost is shown below:
But before that first determine the average cost per unit
= (Beginning cost + purchase cost) ÷ (Beginning units + purchased units)
= (550 × $2.33 + 310 × $2.68) ÷ (550 units + 310 units)
= ($1,281.5 + $830.8) ÷ (860 units)
= $2.46
Now the ending inventory is
= (860 units - 560 units) × $2.46
= $737
Litton Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April for all of the jobs were 4,780. If the actual factory overhead totaled $141,800, determine the over- or underapplied amount for the month.
Answer:
Overapplied overhead= $7,575
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 1,250,000 / 40,000
Predetermined manufacturing overhead rate= $31.25 per machine hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 31.25*4,780
Allocated MOH= $149,375
Finally, the over/under allocation:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 141,800 - 149,375
Overapplied overhead= $7,575
describe the role of the public sector
Answer:
The public sector includes all sorts of government (central, state, and local). It provides basic goods or services that are either not, or cannot be, provided by the private sector, for example, schools, roads, etc.
Explanation:
hope this helps!! please mark brainliest :))
central bank definition
Explanation:
a national bank that provides financial and banking services for its country's government and commercial banking system, as well as implementing the government's monetary policy and issuing currency.
Practice Brief Exercise 02 Swifty Corporation has 44,000 shares of $10 par value common stock outstanding. It declares a 10% stock dividend on December 1 when the market price per share is $19. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend.
Answer:
Dec-31
Dr Stock Dividend $83,600
Cr Stock Dividend Distributable $44,000
Cr Paid - in - capital in excess of Par (44,000 * m
Dec-31
Dr Stock Dividend Distributable $44,000
Cr Common stock $44,000
Explanation:
Preparation of the entries for the declaration and issuance of the stock dividend
Dec-31
Stock Dividend $83,600
(44,000* 10% * $19)
Cr Stock Dividend Distributable $44,000
($44,000 *10% *$10)
Cr Paid - in - capital in excess of Par (44,000 * 10% *$9) $39,600
($19+$10=$9)
(Being to record Stock dividend declared)
Dec-31
Dr Stock Dividend Distributable $44,000
Cr Common stock $44,000
(Being to record issuance of the stock dividend)
Describe good cash management practices involving inventory purchases. (Check all that apply.) Multiple select question. Buyers should take advantage of early payment discounts. Inventory should be purchased with cash whenever possible. Invoices should be paid on the last day of the discount period. Invoices should be paid on the first day of the discount period.
Answer:
Invoices should be paid on the last day of the discount period.
Buyers should take advantage of early payment discounts.
Explanation:
Cash management can be regarded as
process involvinh collection and management of cash flows. Cash management is very crucial for individuals as well as companies as far as financial stability is concerned. It should be noted that good cash management practices involving inventory purchases;
✓Invoices should be paid on the last day of the discount period.
✓Buyers should take advantage of early payment discounts.
Good cash management practices involving inventory purchases include taking advantage of early payment discounts, negotiating payment terms with suppliers, purchasing inventory in bulk, tracking your inventory levels closely, and using a cash flow management tool.
Here are the specific practices that you should do:
Take advantage of early payment discounts. This is a great way to save money on inventory purchases. If you can pay your invoices within the discount period, you can usually save 1% to 3% on the purchase price.
Negotiate payment terms with suppliers. You may be able to get better payment terms from your suppliers, such as longer payment periods or discounts for paying early. This can help you improve your cash flow and save money on inventory purchases.
Track your inventory levels closely. This will help you avoid overstocking or understocking inventory. Overstocking can lead to wasted cash while understocking can lead to lost sales.
Use a cash flow management tool. This can help you track your cash flow and identify areas where you can improve. There are many different cash flow management tools available, so you can find one that fits your needs.
By following these good cash management practices, you can improve your cash flow and save money on inventory purchases. This can help you improve your business's bottom line and make it more successful.
Learn more about inventory , here:
https://brainly.com/question/30468582
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For the coming year, Cleves Company anticipates a unit selling price of $100, a unit variable cost of $60, and fixed costs of $480,000.
Required:
1. Compute the anticipated break-even sales in units.
2. Compute the sales (units) required to realize a target profit of $240,000.
3. Construct a cost-volume-profit chart, assuming maximum sales of 20,000 units within the relevant range. From your chart, indicate whether each of the following sales levels would produce a profit, a loss, or break-even.
$1,200,000 SelectBreak-evenLossProfitItem 3
$1,000,000 SelectBreak-evenLossProfitItem 4
$800,000 SelectBreak-evenLossProfitItem 5
$400,000 SelectBreak-evenLossProfitItem 6
$200,000 SelectBreak-evenLossProfitItem 7
4. Determine the probable income (loss) from operations if sales total 16,000 units.
Solution :
1. The break even sales in units is given by :
Break even sales in units = [tex]$\frac{\text{fixed cost}}{\text{contribution per unit}}$[/tex]
Where, contribution per unit = selling price per unit - variable cost per unit
The anticipated break even sales in units of Cleaves company in the coming year is :
Break even sales in units = [tex]$\frac{480,000}{40}$[/tex]
Contribution per unit = $ 100 - $ 60
= $ 40
So the company anticipates its breakeven sales at 12,000 units.
2. In order tot earn profit the sales generated should overcome the breakeven point. The desired profit is $240,000, the sales required to earn the desired profit can be computed using the formula :
Desired sales in units = [tex]$\frac{\text{fixed cost + desired cost}}{\text{contribution per unit}}$[/tex]
[tex]$=\frac{480,000+240,000}{40}$[/tex]
= 18,000 units
Thus, the sales in units required to earn a profit of $ 240,000 are 18,000 units.
3. The sales in excess of the breakeven point would yield a profit on the contrary the sales below the breakeven point would result in a loss.
In the given sales in dollar = breakeven sales in units x selling price per unit
= 12,000 x 100
= $ 1,200,000
∴ the sales above $1,200,000 would result in a profit whereas the sales below $1,200,000 would result in loss.
The cost volume profit chart below indicates the profit, loss, breakeven at different sales levels :
Sales levels Result
1,200,000 Breakeven
1,000,000 Loss
800,000 Loss
400,000 Loss
200,000 Loss
4. The income on sale of 16,000 units is computed below :
Particulars Amount is $
Sales 1,600,000
Less : variable cost 960,000
Contribution 640,000
Less : Fixed cost 480,000
Profit 160,000
The break-even sales in units are calculated as follows:
What is Break Even Point ?Breakeven unit sales =
In this case, contribution per unit equals selling price per unit minus variable cost per unit.
The Cleaves Company's estimated break-even unit sales for the upcoming year are:
Breakeven unit sales =
Contribution per unit equals $100 minus $60.
= $ 40
The business therefore projects 12,000 units as its breakeven sales.
(2) 2. Sales must exceed the breakeven point in order to create a profit. The sales needed to achieve the desired profit, which is $240,000, can be calculated using the formula:
Ideally, sales would equal
= 18,000 units
Thus, the sales in units required to earn a profit of $ 240,000 are 18,000 units.
(3) 3. Sales beyond the breakeven threshold would result in a profit; sales below the breakeven point, on the other hand, would result in a loss.
Sales in dollars for the given period equal breakeven sales in units times selling price per unit.
= 12,000 x 100
= $ 1,200,000
Sales that exceed $1,200,000 generate a profit, whilst sales that go below that threshold generate a loss.
The following cost volume profit chart shows the profit, loss, and breakeven points at various sales levels:
Resulting sales levels
Breakeven is 1,000,000
1,000,000 Loss
800,000 Loss
400,000 Loss
200,000 Loss
4. The earnings from the sale of 16,000 units are calculated as follows:
Particulars The amount is $
Sales 1,600,000
Variable cost is 960,000 less.
640,000 dollars were contributed.
Less: 480,000 in fixed costs.
Gain of 160,000
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# SPJ 2
Assume that Amazon has a stock-option plan for top management. Each stock option represents the right to purchase a share of Amazon $1 par value common stock in the future at a price equal to the fair value of the stock at the date of the grant. Amazon has 4,900 stock options outstanding, which were granted at the beginning of 2020. The following data relate to the option grant. Exercise price for options $39 Market price at grant date (January 1, 2020) $39 Fair value of options at grant date (January 1, 2020) $6 Service period 5 years. The following data relate to the option grant.
Exercise price for options $38
Market price at grant date (January 1, 2017) $38
Fair value of options at grant date (January 1, 2017) $6
Service period 5 years
Required:
a. Prepare the journal entries for the first year of the stock-option plan.
b. Prepare the journal entries for the first year of the plan assuming that, rather than options, 700 shares of restricted stock were granted at the beginning of 2017.
Answer:
A. 1/1/2020
No entry
12/31/2020
Dr Compensation Expense $5,880
Cr Paid-in Capital—Stock Options $5,880
B. 1/1/2020
Dr Unearned Compensation $26,600
Cr Common Stock $700
Cr Paid-in Capital in Excess of Par $25,900
12/31/2020
Dr Compensation Expense $5,320
Cr Unearned Compensation $5,320
Explanation:
A. Preparation of the journal entries for the first year of the stock-option plan.
1/1/2020
No entry
12/31/2020
Dr Compensation Expense $5,880
($6 X 4,900 ÷ 5)
Cr Paid-in Capital—Stock Options $5,880
B. Preparation of the journal entry (ies) for the first year of the plan assuming that 700 shares of restricted stock were granted at the beginning of 2020.
1/1/2020
Dr Unearned Compensation $26,600
($38 X 700)
Cr Common Stock $700
($1 X 700)
Cr Paid-in Capital in Excess of Par $25,900
($26,600-$700)
12/31/2020
Dr Compensation Expense $5,320
($26,600 ÷ 5)
Cr Unearned Compensation $5,320
The information below pertains to Barkley Company for 2015.
Net income for the year $2,240,000
9% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 2,112,000
6% convertible, cumulative preferred stock, $100 par value; each share is convertible into 3 shares of common stock 4,707,000
Common stock, $10 par value 6,959,000
Tax rate for 2015 45%
Average market price of common stock $25 per share
There were no changes during 2015 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 75,800 shares of common stock at $15 per share.
(a) Compute basic earnings per share for 2015. (Round answer to 2 decimal places, e.g. $2.55.)
Basic earnings per share
$
(b) Compute diluted earnings per share for 2015. (Round answer to 2 decimal places, e.g. $2.55.)
Diluted earnings per share
$
A food worker has prepared a large pot of rice that must be cooled. How should the food worker cool the rice safely?
Answer:
Cover the pot and leave it at room temperature.
Explanation:
That's how a food worker would cool rice safely.
Answer: Cover the pot and leave it at room temperature.
Explanation: took the test
Question 7 (4 points)
Saved
Which of the following inestments would be considered the most liquid?
Question 7 options:
Real Estate
A one year CD
A standard savings account
A 401k
Bond X is a premium bond making semiannual payments. The bond has a coupon rate of 9.2%, a YTM of 7.2%, and has 17 years to maturity. Bond Y is a discount bond making semiannual payments. This bond has a coupon rate of 7.2%, a YTM of 9.2%, and also has 17 years to maturity. Assume the interest rates remain unchanged and both bonds have a par value of $1,000.
1. What are the prices of these bonds today?
2. What do you expect the prices of these bonds to be in one year?
3. What do you expect the prices of these bonds to be in three years?
4. What do you expect the prices of these bonds to be in eight years?
5. What do you expect the prices of these bonds to be in 12 years?
6. What do you expect the prices of these bonds to be in 17 years?
Answer:
I used an Excel spreadsheet to calculate the answers (see attached file):
1. What are the prices of these bonds today?
bond X = $1,194
bond Y = $830
2. What do you expect the prices of these bonds to be in one year?
bond X = $1,194
bond Y = $830
3. What do you expect the prices of these bonds to be in three years?
bond X = $1,175
bond Y = $844
4. What do you expect the prices of these bonds to be in eight years?
bond X = $1,131
bond Y = $879
5. What do you expect the prices of these bonds to be in 12 years?
bond X = $1,083
bond Y = $921
6. What do you expect the prices of these bonds to be in 17 years?
bond X = $1,046
bond Y = $1,036
A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variable cost per camper Capacity $480 per week $192,000 per session $320 per week 200campers (a) Develop the mathematical relationships for total cost and total revenue. (b) What is the total number of campers that will allow the camp to just break even
Answer:
Results are below.
Explanation:
Giving the following information:
Fixed costs= $192,000
Unitary variable cost= $320 per week
Selling price per unit= $480 per week
To calculate the total cost, we need to use the following formula:
Total cost= fixed costs + unitary variable cost*number of units
Total cost= 192,000 + 320*number of weeks
Now, the total revenue:
Total revenue= selling price per week*Number of weeks
Total revenue= 480*x
Finally, the break-even point in units:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 192,000 / (480 - 320)
Break-even point in units= 1,200 campers
Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 6,100 units, but its actual level of activity was 6,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
Fixed element per month Variable element per unit
Revenue - $32.60
Direct labor $0 $3.90
Direct materials 0 12.10
Manufacturing overhead 33,400 1.80
Selling and administrative expenses 28,300 0.40
Total expenses $61,700 $18.20
Actual results for May:
Revenue $200,564
Direct labor $22,786
Direct materials $73,824
Manufacturing overhead $43,922
Selling and administrative expenses $31,896
The direct labor in the planning budget for May would be closest to:_________
a. $23,010
b. $22,633
c. $22,786
d. $23,166
Answer:
$23,595
Explanation:
The computation of the direct labor in the planning budget is shown below:
Direct labor in planning budget is
= Actual level of Activity × Direct labor per unit
= 6,050 × $3.90
= $23,595
For calculating the direct labor in the planning budget we simply multiplied the actual activity level by the direct labor per unit
This is the answer but the same is not provided in the given options