Answer:
C. Caroline (Kyoko) could increase her utility by buying less jello (pudding) and more pie per week.
Explanation:
the rate of exchange = $4 / $1 = 4
marginal rate of substitution = 5
Kyoko can maximize her utility by increasing the consumption of pecan pie. She should increase her consumption of pecan pie until the marginal rate of substitution = 4.
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $155 Units in beginning inventory 200 Units produced 2,020 Units sold 1,760 Units in ending inventory 460 Variable costs per unit: Direct materials $ 49 Direct labor $ 29 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 14 Fixed costs: Fixed manufacturing overhead $18,180 Fixed selling and administrative expense $33,440 What is the total period cost for the month under variable costing
Answer:
$76,260
Explanation:
Calculation to determine the total period cost for the month under variable costing
Using this formula
Total Period cost = Variable selling and administrative cost + Fixed manufacturing overhead + Fixed selling and administrative cost
Let plug in the formula
Total Period cost = ($14 × 1,760) + $18,180 + $33,440
Total Period cost =$24,640+$18,180 + $33,440
Total Period cost =$76,260
Therefore the total period cost for the month under variable costing is $76,260
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for next year.Beginning Inventory Ending InventoryRaw material* 41,000 51,000Finished goods 81,000 51,000* Three pounds of raw material are needed to produce each unit of finished product.If Paradise Corporation plans to sell 485,000 units during next year, the number of units it would have to manufacture during the year would be:
Answer:
Production= 455,000 units
Explanation:
Giving the following information:
Beginning Inventory= 81,000
Ending Inventory= 51,000
Sales= 485,000
To calculate the production required for the period, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
Production= 485,000 + 51,000 - 81,000
Production= 455,000 units
High Point Hotel (HPH) has $165,000 in accounts receivable. To finance a major purchase, the company assigns these receivables to Cross Town Bank. Which one of the following statements correctly describes this transaction? HPH will immediately receive $165,000 and will have no further obligation related to these receivables. HPH will receive some amount of cash immediately while maintaining full responsibility for any uncollected receivables. Cross Town Bank accepts full responsibility for the collection of the accounts receivables and, in exchange, immediately pays HPH a discounted value for its receivables. Cross Town Bank accepts full responsibility for collecting the accounts receivables and pays HPH a discounted price for the accounts collected after the normal collection period has elapsed. HPH receives the full amount of its receivables upon assignment but must reimburse Cross Town Bank for any uncollected account
Answer: HPH will receive some amount of cash immediately while maintaining full responsibility for any uncollected receivables
Explanation:
Since High Point Hotel (HPH) has $165,000 in accounts receivable and the company assigns these receivables to Cross Town Bank in order to finance a major purchase, it simply implies that HPH will receive some amount of cash immediately while maintaining full responsibility for any uncollected receivables.
Other options given are incorrect as they don't describe the transaction.
In its first year of operations, Cloudbox has credit sales of $200,000. Its year-end balance in accounts receivable is $10,000, and the company estimates that $1,500 of its accounts receivable is uncollectible.
a. Prepare the year-end adjusting entry to estimate bad debts expense.
b. Prepare the current assets section of Cloudboxâs classified balance sheet assuming Inventory is $22,000, Cash is $14,000, and Prepaid Rent is $3,000. Note: The company reports Accounts receivable, net on the balance sheet.
Answer:
Cloudbox
a) Year-end adjusting entry to estimate bad debts expense:
Debit Bad Debts Expense $1,500
Credit Allowance for Uncollectible accounts $1,500
To record the uncollectible allowance.
b) Current Assets Section of the Balance Sheet:
Cash $14,000
Accounts receivable (net) 8,500
Inventory 22,000
Prepaid Rent 3,000
Total current assets $47,500
Explanation:
a) Data and Calculations:
Credit sales = $200,000
Accounts receivable ending balance = $10,000
Estimated uncollectible accounts = $1,500
Cash $14,000
Accounts receivable (net) $8,500 ($10,000 -$1,500)
Inventory $22,000
Prepaid Rent $3,000
The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Identify the errors in the accountant's adjusting entries, assuming that none of the accounts were affected by more than one adjusting entry.
Eva's Laundry
Trial Balances
May 31, 2018
Unadjusted Adjusted
Debit Balances Credit Balances Debit Balances Credit Balances
Cash . 7,500 7,500
Accounts Receivable . 18,250 23,250
Laundry Supplies 3,750 6,750
Prepaid Insurance* 5,200 1,600
Laundry Equipment . . 190,000 177,000
Accumulated Depreciation—Laundry
48,000 48,000
Accounts Payable 9,600 9,600
Wages Payable 1,000
Capital Stock . . 35,000 35,000
Retained Earnings 75,300 75,300
Dividends 28,775
Laundry Revenue 182,100 182,100
Wages Expense 49,200 49,200
Rent Expense . . 25,575 25,575
Utilities Expense . 18,500 18,500
Depreciation Expense 13,000
Laundry Supplies Expense 3,000
Insurance Expense 600
Miscellaneous Expense .3,250 3,250
350,000 350,000 358,000 351,000
Answer:
See the errors identified below.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answer is now given as follows:
The following errors can be identified in the accountant's adjusting entries:
1.The accountant debited the account receivable for $5,000 (i.e. $23,250 - $18,250 = $5,000) without crediting laundry revenue.
Therefore, we should have:
Correct amount of laundry revenue = Laundry revenue in trial balance + (Adjusted account receivable - Unadjusted account receivable) = $182,100 + ($23,250 - $18,250) = $187100
2. The accountant debited laundry suppliers expense instead of crediting laundry suppliers for $3,000.
3. The the accountant credited Prepaid insurance for $3,600 (i.e. $5,200 - $1,600 = $3,600). However, the insurance expense was debited for $600.
4. Instead of crediting accumulated depreciation, the laundry equipment for depreciation expense was erroneously credited by the accountant for $13,000.
5. A debit of $1,000 to wages expense was not made by the accountant.
Additional Note:
After correcting the errors identified above, the correct adjusted trial balance will look as the one in the attached photo.
The following information relates to Schmidt Sausage Co.'s defined benefit pension plan during the current reporting year: ($ in millions) Plan assets beginning of the year $ 400 Expected return on plan assets 40 Actual return on plan assets 32 Cash contributions 60 Amortization of net loss 8 Retiree benefits 9 Required: Determine the amount of pension plan assets at fair value on December 31.
Answer:
400 dollars is expected on the year and return the asssests as 40 actual return is actually 32 but then u add a little and get 60 so then you lose 8 dollars because your mom wanted u to buy something for her then retiree from your job and get 9 dollars of benefit that you need the amount of a pension plens assest a fair in december 33
Explanation:
Suppose management estimated the market valuation of some obsolete inventory at $99,000; this inventory was recorded at $120,000, which resulted in recognizing a loss of $21,000. The auditors obtained the following information: The inventory in question could be sold for an amount between $78,000 and $92,000. The costs of advertising and shipping could range from $5,000 to $7,000.
Required:
a. Would you propose an audit adjustment to the management estimate?
A. Yes
B. No
b. Prepare the appropriate accounting entry. (In cases where no entry is required, please select the option "No journal entry required" for your answer to grade correctly. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
General Journal Debit Credit
Answer:
a. Yes. I would propose an audit adjustment to the management estimate.
b. Appropriate Journal Entry:
Debit Cost of goods sold (Inventory Write-down) $28,000
Credit Inventory $28,000
To adjust the inventory to the net realizable value.
Explanation:
a) Data and Calculations:
Management estimated market value of inventory = $99,000
Record cost of inventory = $120,000
Recognized loss = $21,000
Auditor's estimate of inventory net realizable value = $71,000 ($78,000 - $7,000)
Required adjustment of inventory value = $28,000 ($99,000 - $71,000)
ased on the segment income statement below, Chips, Inc. is considering eliminating its Barbecue Division line. Revenue from Barbecue Division sales $ 528,000 Salaries for Barbecue Division workers (128,000 ) Direct material (342,000 ) Sunk costs (equipment depreciation) (82,000 ) Allocated company-wide facility-sustaining costs (64,000 ) Net loss $ (88,000 ) If the Division is eliminated, what is the total amount of avoidable cost?
Answer:
the total amount of avoidable cost is $470,000
Explanation:
The computation of the total amount of avoidable cost is shown below:
= Salaries for Barbecue Division workers + direct materials
= $128,000 + $342,000
= $470,000
Hence, the total amount of avoidable cost is $470,000
We simply added the above two items
Next
Unit 1 Quiz
6
This holiday season, the hottest gift was a doll named Sparkle Princess within a few hours all of the stores sold out their stack of this
People who had been fortunate enough to buy a doll began to sell their dolls on the internet. Thousands of people logged on to try to
be a
the few dolls that were being sold on the Internet. What MOST likely happened with the internet sales?
CA The price went down because the supply was low and the demand was high
B. The price went up because the supply was low and the demand was high
CC The price went down because the supply was high and the demand was low
D. The price went up because the supply was high and the demand was low
Reser
Answer:
The price went up because the supply was low and the demand was high.
I believe
Explanation:
which of the following statements are true
a. the balance sheet should be prepared before the income statement .
b. the income statement should be prepared before the balance sheet
c.the balance sheet and the income statenent should be prepared simultaneously.
d. the order in which the balance sheet and the income statement are prepared is irrelevent
What is a subreport?
A subreport is a report item that displays another report inside the body of a main report. Conceptually, a subreport in a report is similar to a frame in a Web page. It is used to embed a report within a report. Any report can be used as a subreport.
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $58,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 3 percent of your annual salary in an account that will earn 11 percent per year. Your salary will increase at 6 percent per year throughout your career.
Required: How much money will you have on the date of your retirement 40 years from today?
Answer:
The amount you will have on the date of your retirement 40 years from today is $1,904,087.20.
Explanation:
This can be determined using the formula for calculating the future value of growing annuity as follows:
FV = M * (((1 + r)^n - (1 + g)^n) / (r - g)) ...................................... (1)
Where
FV = Future value or the amount on the date of retirement = ?
M = First annual deposit = Annual salary * Deposit percentage = $58,000 * 3% = $1,740
r = annual interest rate = 11%, or 0.11
g = salary growth rate = 6%, or 0.06
n = number of years = 40 years
Substituting all the values into equation (1), we have:
FV = $1,740 * (((1 + 0.11)^40 - (1 + 0.06)^40) / (0.11 - 0.06))
FV = $1,740 * 1,094.30298736951
FV = $1,904,087.20
Therefore, the amount you will have on the date of your retirement 40 years from today is $1,904,087.20.
Berends corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 9.2 pounds $3.00 per pound direct labor 0.3 hours $17.00 per hour variable overhead 0.3 hours $3.00 per hour the company reported the following results concerning this product in april. actual output 8,800 units raw materials used in production 78,150 pounds purchases of raw materials 85,900 pounds actual direct labor-hours 2,560 hours actual cost of raw materials purchases $240,520 actual direct labor cost $39,424 actual variable overhead cost $6,912 the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased.
1. The variable overhead efficiency variance for april is:______.
A. $240 F
B. $216 U
C. $216 F
D. $240 U
2. The materials quantity variance for April is:____.
A. $8,430 U
B. $8,430 F
C. $7,868 U
D. $7,868 F
3. The materials price variance for April is:_______.
A. $17,180 U
B. $16,192 F
C. $16,192 U
D. $17,180 F
4. The labor efficiency variance for April is:_______.
A. $1,232 F
B. $1,360 F
C. $1,360 U
D. $1,232 U
5. The labor rate variance for April is:_______.
A. $4,224 F
B. $4,224 U
C. $4,096 U
D. $4,096 F
The variable overhead rate variance for April is:_______.
A. $792 F
B. $792 U
C. $768 F
D. $768 U
Answer:
1. Variable Overhead Efficiency
= Standard rate * (Actual hours - Standard hours)
= 3 * ( 8,800 * 0.3 - 2,560)
= 3 * 80
= $240 Favorable
2. Materials Quantity Variance:
= Standard price * (Standard quantity - Actual quantity)
= 3 * (8,800 * 9.2 - 78,150)
= 3 * 2,810
= $8,430 favorable
3. Materials price variance:
= Standard cost of purchased materials -Actual cost of purchased materials
= (3 * 85,900) - 240,520
= $17,180 Favorable
4. Labor efficiency variance
= Standard labor rate * ( Actual hours worked - Standard labor hours)
= 17 * ( 2,560 - 8,800 * 0.3)
= 17 * 80
= $1,360 Favorable
5. Labor rate variance:
= (Standard rate * actual hours worked) - Actual labor cost
= 17 * 2,560 - 39,424
= $4,096 favorable
6. Variable Overhead rate variance:
= (Overhead rate * Actual hours) - Overhead cost
= (3 * 2,560) - 6,912
= $768 Favorable
please chart this out !
Answer:
Purchases
Date Qty Unit Cost Total Cost
11 13 $47 $611
21 9 $60 $540
Cost of Sales
Date Qty Unit Cost Total Cost
14 18 $46.04 $828.72
25 10 $53.89 $538.90
$1,367.62
Inventory
Qty Unit Cost Total Cost
6 $53.89 $323.34
$323.34
Explanation:
Perpetual Inventory method calculates the Costs of Sales together with the Inventory value after each and every transaction.
Weighted Average Cost calculates a new unit cost after each and every Purchase made. This unit cost is then used to determine the Cost of Sales and Inventory Value.
New Unit Cost Calculations
Unit Cost = Total Available Cost ÷ Units Available for Sale
April 11
Unit Cost = (12 x $45 + 13 x $47) ÷ 25 = $46.04
April 21
Unit Cost = (7 x $46.04 + 9 x $60) ÷ 16 = $53.89
When Valley Co. acquired 80% of the common stock of Coleman Corp., Coleman owned land with a book value of $75,000 and a fair value of $125,000. What is the amount of excess land allocation attributed to the noncontrolling interest at the acquisition date
Answer:
$10,000
Explanation:
The amount of excess land allocation attributed to the non controlling interest at the acquisition date is computed below;
Non controlling interest of acquisition date
= (Book value of land - Fair value of land) × 20%
Given that;
Book value of land = $125,000
Fair value of land = $75,000
Then,
Non controlling interest of acquisition date
= ($125,000 - $75,000) × 20%
= $50,000 × 20%
= $10,000
On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $25,000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $40,000 each and will be paid on December 31, 2024, 2025, and 2026. Montgomery borrowed other money at a 10% annual rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021
Answer:
1. The amount Montgomery should record the note payable and corresponding cost of the building on January 1, 2021. is $136,907.65.
2. The amount of interest expense on this note which Montgomery will recognize in 2021 is $13,690.76.
Explanation:
Note: This question is not complete. The complete question is therefore presented before answering the question as follows:
On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $25,000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $40,000 each and will be paid on December 31, 2024, 2025, and 2026. Montgomery borrowed other money at a 10% annual rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Required:
1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?
2. How much interest expense on this note will Montgomery recognize in 2021?
Explanation of the answer is now given as follows:
1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?
Note: See the attached excel file for the calculation of the present value of all payments (In bold red color).
From the attached excel file, we have:
Present value of all payments = $136,907.65
This present value of all payments of $136,907.65 is the amount Montgomery should record the note payable and corresponding cost of the building on January 1, 2021.
2. How much interest expense on this note will Montgomery recognize in 2021?
This can be calculated as follows:
Interest expense = Cost of the building * Interest rate = $136,907.65 * 10% = $13,690.76
Therefore, the amount of interest expense on this note which Montgomery will recognize in 2021 is $13,690.76.
Correctly match the following with: export goods, import goods, export services, import services, investment income inflows, investment income outflows, transfer inflows, transfer outflows, capital inflows, and capital outflows.
Answer:
1. Import goods
2. Transfer outflow
3. Export services
This is what I know so far. Hope this helps.
The cost of direct materials transferred into the Bottling Department of the Mountain Springs Water Company is $327,600. The conversion cost for the period in the Bottling Department is $528,000. The total equivalent units for direct materials and conversion are 25,200 and 8,800 liters, respectively. Determine the direct materials and conversion cost per equivalent unit. Round your answers to the nearest cent. $fill in the blank 1 per equivalent unit of materials $fill in the blank 2 per equivalent unit of conversion costs
Answer:
$13 per Equivalent Unit of Materials,
$60 per Equivalent Unit of Conversion Costs
Explanation:
Calculation to Determine the direct materials and conversion cost per equivalent unit
Direct materials equivalent units=($327,600/25,200 liters )
Direct materials equivalent units=$13
Conversion Costs equivalent units
=($528,000/8,800 liters)
Conversion Costs equivalent units= $60
g Units: Beginning Inventory: 85,000 units, 70% complete as to materials and 20% complete as to conversion. Units started and completed: 260,000. Units completed and transferred out: 345,000. Ending Inventory: 32,500 units, 40% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of materials. Group of answer choices 227,500 349,875 298,500 332,875 358,000
Answer: 358,000 units
Explanation:
Assuming this is the weighted average method.
Equivalent units = Units completed and transferred out + Ending inventory Equivalent units.
Ending inventory Equivalent units = Ending inventory * %complete for materials
= 32,500 * 40%
= 13,000 units
Equivalent units = 345,000 + 13,000
= 358,000 units
Deborah's Performance Pizza is a small restaurant in San Francisco that sells gluten-free pizzas. Deborah's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Deborah signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Deborah's kitchen cannot fit more than two ovens, Deborah cannot change the number of ovens she uses in her production of pizzas in the short run.
However, Deborah's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Deborah lets them know how many workers she needs for each day of the week. In the short run, these workers are__________ inputs, and the ovens are__________ inputs.
Answer:
✓VARIABLE Correct inputs
✓FIXED Correct inputs.
Explanation:
Variable inputs can be regarded as resources, it can also be called factor of production that can undergo change in the short run by a company as a result of the company changing quantity of output produced. These variable inputs in short-run could be labor as well as material inputs.
Fixed inputs can be regarded as resources it can also be called factor of production that cannot undergo change in the short run by a company as a result of the company changing quantity of output produced. These fixed inputs in short-run could be building as well as lands
The basic economic problem is that consumers have too many products and services to choose from.
a. True
b. False
An investment project has annual cash inflows of $4,300, $4,000, $5,200, and $4,400, for the next four years, respectively. The discount rate is 13 percent. a. What is the discounted payback period for these cash flows if the initial cost is $5,800? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the discounted payback period for these cash flows if the initial cost is $7,900? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the discounted payback period for these cash flows if the initial cost is $10,900? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
1.64 years
2.27 years
3.13 years
Explanation:
Discounted payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative discounted cash flows
Present value of cash flow in year 1 = 4300 / 1.13 = 3805.31
Amount recovered in year 1 = -5800 + 3805.31 = -1994.69
Present value of cash flow in year 2 = 4000 / (1.13^2) = 3132.59
Amount recovered in year 2 =-1994.69 + 3132.59 = 1137.90
Payback period = 1 + 1994.69/3132.59 = 1.64 years
B
Present value of cash flow in year 1 = 4300 / 1.13 = 3805.31
Amount recovered in year 1 = -7900 + 3805.31 = -4094.69
Present value of cash flow in year 2 = 4000 / (1.13^2) = 3132.59
Amount recovered in year 2 = -4094.69 + 3132.59 = -962.10
Present value of cash flow in year 3 = 5200 / (1.13^3) = 3603.86
Amount recovered in year 3 = -962.10 + 3603.86 = 2641.76
Payback period = 2 years + -962.10 / 3603.86 = 2.27 years
C
Present value of cash flow in year 1 = 4300 / 1.13 = 3805.31
Amount recovered in year 1 = -10900 + 3805.31 = -7094.69
Present value of cash flow in year 2 = 4000 / (1.13^2) = 3132.59
Amount recovered in year 2 = -7094.69 + 3132.59 = -3962.10
Present value of cash flow in year 3 = 5200 / (1.13^3) = 3603.86
Amount recovered in year 3 = -3962.10 + 3603.86 = -358.24
Present value in year 4 = 4400 / (1.13^4) = 2698.60
Amount recovered in year 4 = -358.24 + 2698.60 = 2340.36
Payback period = 3 years + 358.24 + 2698.60 = 3.13 years
Okay favorite Haikyuu character GO!
Answer:
It's either Iwaizumi or suna- or kenma
Explanation:
JASEISJJEUDJ IT'S HARD TO PICK
Assume that a state government currently provides no child-care subsidies to working single parents, but it now wants to adopt a plan that will encourage labor force participation among single parents. Suppose that child-care costs are hourly, and suppose the government adopts a child-care subsidy that pays $3 per hour for each hour the parent works, up to 8 hours per day. Draw a current budget constraint (net of child-care costs) for an assumed single mother and then draw in the new constraint. Discuss the likely effects on labor force participation and hours of work.
Answer:
The line on the graph will be parallel to the pre-subsidy line and the new constraint will then be equal to the points connecting the two lines.
Explanation:
The subsidy by government to single parents is $3 per hour for up to 8 hours. The total of subsidy will be $16 for each day. The labor force who were not receiving the subsidy before had steep indifference curve but now few workers will find utility maximization with flatter indifference curve so the workers will join the subsidy program.
Exercise 8-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $394,875 for real estate with land, land improvements, and a building. Land is appraised at $202,500; land improvements are appraised at $45,000; and a building is appraised at $202,500. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
Answer:
Part 1
Land = $176,712
Land Improvements = $29,269
Building = $176,712
Part 2
Debit : Land $176,712
Debit : Land Improvements $29,269
Debit : Building $176,712
Credit : Cash $394,875
Explanation:
Cost allocations based on appraised values
Land = $202,500 / $452,500 x $394,875 = $176,712
Land Improvements = $45,000 / $452,500 x $394,875 = $29,269
Building = $202,500 / $452,500 x $394,875 = $176,712
Journal :
Debit the Assets with their allocated costs and credit cash
Following is the stockholders’ equity section from the The Coca-Cola Company 2017 balance sheet. (All amounts in millions except par value.)
The Coca-Cola Company Shareowners' Equity December 31, 2017
Common stock-$0.25 par value; authorized-11,200 shares; issued-7,040 shares $1,760
Capital surplus 15,864
Reinvested earnings 60,430
Accumulated other comprehensive income (loss) (10,305)
Treasury stock, at cost-2,781 shares (50,677)
Equity attributable to shareowners of The Coca-Cola Company $17,072
Required:
a. Compute the number of shares outstanding.
b. At what average price were the Coca-Cola shares issued? Round answer to two decimal places.
Answer and Explanation:
a. The computation of the no of shares outstanding is shown below:
No. of shares outstanding is
= shares issued - shares held as treasury stock
= 7,040 shares - 2,781 shares
= 4,259 shares
b. The average price is
= (Common Stock value + Capital Surplus) ÷ No. of shares issued
=($1,760 + $15,864) ÷ 4259 shares
= $4.14
describe how posts on social media can portray poor ethics to an employer. (answer in a complete sentence)
Answer:
Posts on social media can portray poor ethics to an employer, because if you post something that goes against what they work for or towards it can get in the way of what they believe!
Explanation:
Hope this helps! :)
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $300,000 for December, and $290,000 for January. Collections are expected to be 55% in the month of sale and 45% in the month following the sale. The cost of goods sold is 70% of sales. The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $23,800. Monthly depreciation is $14,800. Ignore taxes. Balance Sheet October 31 Assets Cash $ 21,400 Accounts receivable 71,400 Merchandise inventory 156,800 Property, plant and equipment, net of $573,400 accumulated depreciation 1,095,400 Total assets $ 1,345,000 Liabilities and Stockholders' Equity Accounts payable $ 255,400 Common stock 821,400 Retained earnings 268,200 Total liabilities and stockholders' equity $ 1,345,000 The difference between cash receipts and cash disbursements for December would be:
Answer:
Bramble Corporation
The difference between cash receipts and cash disbursements for December would be:
= $71,000
Explanation:
a) Data and Calculations:
Balance Sheet October 31
Assets Cash $ 21,400
Accounts receivable 71,400
Merchandise inventory 156,800
Property, plant and equipment,
net of $573,400 accumulated
depreciation 1,095,400
Total assets $ 1,345,000
Liabilities and Stockholders' Equity
Accounts payable $ 255,400
Common stock 821,400
Retained earnings 268,200
Total liabilities and
stockholders' equity $ 1,345,000
November December January
Budgeted sales $320,000 $300,000 $290,000
Cash Collections:
55% month of sale 176,000 165,000 159,500
45% following month 71,400 144,000 135,000
Total collections $247,400 $309,000 $294,500
Cost of goods sold $224,000 $210,000 $203,000
= (70% of Sales for the month)
Ending Inventory 147,000 142,100
Goods available $371,000 $352,000
Beginning Inventory 156,800 147,000 142,100
Purchases $214,200 $205,000
Cash disbursements:
Payment to suppliers 255,400 214,200 205,000
Other monthly exp. 23,800 23,800
Total disbursements $279,200 $238,000
Comparison of Cash receipts with Cash disbursements:
November December
Cash receipts $247,400 $309,000
Cash disbursements $279,200 $238,000
Difference ($31,800) $71,000
what is difference between T-Account and a ledger Account?(hint... what dose T-Account not have?)
Item11 2 points Time Remaining 1 hour 57 minutes 8 seconds01:57:08 Item 11 Time Remaining 1 hour 57 minutes 8 seconds01:57:08 An advantage of bonds is: Multiple Choice Bonds do not affect owner control. Bonds require payment of par value at maturity. Bonds can decrease return on equity. Bond payments can be burdensome when income and cash flow are low. Bonds require payment of periodic interest.
Answer: Bonds do not affect owner control.
Explanation:
Bonds are simply refered to as the units of corporate debts which are being issued by companies. It is a fixed income instrument and its advantage is that the bonds do not affect owner control.
Bonds can also bring about a rise in the return on equity. Therefore, the correct option is A.