Karev Company started Year 2 with a $500 balance in its Cash account, a $500 balance in its Supplies account and a $1,000 balance in its common stock account. During Year 2 the company experienced the following events. (1) Paid $334 cash to purchase supplies (2) Physical count revealed $211 of supplies on hand at the end of Year 2 Based on this information the amount of supplies reported on the Year 2 Balance Sheet is $_______________

Answer: $211

Explanation:

Based on the information given in the question, the amount of supplies reported on the Year 2 Balance Sheet will be $211.

The answer is $211 because that is the actual inventory that was given in the question and therefore should be the value that should be reported on the Year 2 balance sheet.

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

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.)

The monetary unit assumption: Multiple Choice Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. Means that we can express transactions and events in monetary, or money, units. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods. Means that a business is accounted for separately from other business entities, including its owner. Prescribes that a company record the expenses it incurred to generate the revenue reported.

When Disney acquired Marvel Comics on August 31, 2009, for $4.24 billion, management needed to determine whether there were opportunities to strengthen the business and leverage cross-business value-chain relationships, which would include all of the following potential opportunities, except Group of answer choices transferring valuable resources and capabilities from one business to another. sharing the use of powerful and well-respected brand names across multiple businesses. retaining cultural independence of the businesses, individual brands and operating differences encouraging knowledge-sharing and collaborative activity among the businesses. combining related value-chain activities of different businesses to achieve lower costs.

K. Decker, S. Rosen, and E. Toso are forming a partnership. Decker is transferring $45,000 of personal cash to the partnership. Rosen owns land worth $10,000 and a small building worth $75,000, which she transfers to the partnership. Toso transfers to the partnership cash of $10,000, accounts recevable of $27,000 and equipment worth $14,000. The partnership expects to collect $24,300 of the accounts receivable.
Prepare the journal entries to record each of the partners' investments. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Account Titles and Explanation Debit Credit
(To record investment of Decker.)
(To record investment of Rosen.)
(To record investment of Toso.)
What amount would be reported as total owner's equity immediately after the investment?
Total owner's equity$_______

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:

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

1.Production runs can be scheduled in
A. only one shift
B. always two shifts
C. one or two shifts
D. up to three shifts
2.Hiring the Needed Complement will always eliminate
A. Overtime
B. worker layoffs
C. a Second Shift
D. strikes
3.Management should strive to
A. increase Turnover
B. decrease Turnover
4.Increasing Capacity tends to
A. reduce the Needed Complement
B. reduce the number of workers on Second Shift
C. reduce Overtime
5.Increasing Training Hours tends to
A. increase the Needed Complement
B. decrease the Needed Complement
C. neither increase nor decrease the Needed Complement
D. both increase and decrease the Needed Complement
6.Recruiting Costs are incurred when
A. Automation levels increase
B. Production runs increase and teams match hiring to Needed Complement
C. workers are assigned to a Second Shift
7.Assuming the Productivity Index is greater than 100%, adding Overtime will
A. increase the Productivity Index
B. decrease the Productivity Index
8.Worker training is entered by the
A. Hour
B. Dollar
9.Teams can eliminate all Recruiting Costs if they wish
A. True
B. False
10.Generally, Separation Costs will be incurred when
A. Production levels increase
B. Automation Levels increase
C. Production Levels decrease
D. Production levels decrease and / or Automation levels increase

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?

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?

Daria plans to retire in 20 years and wants to know how much she will need to have in her account when she retires. She wants to be able to withdraw $5,000 per month for 25 years of retirement, and she expects her account to earn a nominal rate of 9 percent per year. Round to the nearest cent. Do not include any unit (If your answer is $111.11, then type 111.11 without $ sign.)

A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have been identified and the associated costs and revenues have been estimated. Annual fixed costs would be $40,000 for A and $30,000 for B; variable costs per unit would be $10 for A and $12 for B; and revenue per unit would be $15 for A and $16 for B.
a) Determine each alternative’s break-even point in units.
b) At what volume of output would the two alternatives yield the same profit?
c) If expected annual demand is 12,000 units, which alternative would yield the higher profit?

Type the correct answer in the box. Spell all words correctly.
Complete the sentence using the correct term.
Heavy industrialization is polluting a natural lake in a certain area. The lake is a habitat for various natural flora and fauna. The local government is looking for ways to improve the condition of the lake and make it a tourist attraction. They should seek the help of a(n)

What is the difference between profit and revenue?

A. Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs.
B. Revenue is the total amount producers earn after subtracting the production costs. Profit is the total amount producers receive after selling a good.
C. Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers earn after subtracting the production costs.
D. Revenue is the total amount producers pay to manufacture a good. Profit is the total amount producers receive after selling a good

The correct answer on edge is A

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.

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.

if you calculating the simple interest and you are given the time in months. how can you find the time in years​

On June 30, 2018, Kimberly Farms purchased custom-made harvesting equipment from a local producer. In payment, Kimberly signed a noninterest-bearing note requiring the payment of $60,000 in two years. The fair value of the equipment is not known, but an 8% interest rate properly reflects the time value of money for this type of loan agreement. At what amount will Kimberly initially value the equipment? How much interest expense will Kimberly recognize in its income statement for this note for the year ended December 31, 2018?

A CEO who communicates about the opportunities and challenges facing the company to employees at all levels and in all departments is engaged in .:_______

a. sending routine messages
b. communication apprehension
c. horizontal communication
d. horizontal communication

i develop my abilities through ​

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.
​

Smith and Johnson are partners. Smith's capital balance in the partnership is $56,000, and Johnson's capital balance $42,000. Smith and Johnson have agreed to share equally in income or loss. Smith and Johnson agree to accept Benson for a 25% interest. Benson will invest $40,000 in the partnership. The bonus that is granted to Smith and Johnson equals:

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)

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?

Karen is a trusted employee whose productivity declines as she works more and more hours each day. After careful observation of her work performance, her manager prepared the following chart. Daily Number of Hours Worked by Karen / Total Numbers of Work Units Completed 1/100 2/190 3/270 4/340 5/400 6/450 7/480 8/500 Karen's total cost to the firm is $11 per hour. Each work unit completed is worth $0.21 to the firm. Ignoring all other possibilities and considerations, for how many hours should the firm hire Karen per day

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 ______.

a) Determine a minimum inventory production plan (i.e., one that allows arbitrary hiring and firing). b) Determine the production plan that meets demand but does not hire or fire workers during the six-month period. c) Let’s say subcontracting is allowed. Let’s say we implement the constant workforce with subcontracting plan, what would the cost of subcontracting need to be to beat the cheaper of the two options above? d) Using this subcontracting cost of $50, formulate a LP and solve to optimality for the constraints of this problem

"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.

Discuss how one might use business analytics in their personal life. Select all that apply. A. A store might keep track of inventory and use it to decide what items are in demand. B. A reporter could analyze social media posts to see what types of people are more likely to share unverified news stories. C. An automobile owner can predict when the next maintenance will be due by recording things such as the miles driven and gas mileage. This would help them budget accordingly. D. A golf player might use statistics to help to diagnose problems and improve their game.

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.