Answer:
1. Dr Cash surrender 14,000
Dr Insurance exp 81,000
Cr Cash 95,000
2. Dr Cash 6,000,000
Cr Cash surrender 70,000
Cr Gain on life 5,930,000
Explanation:
1. Preparation of the appropriate 2021 journal entry to record insurance expense and the increase in the investment
Dr Cash surrender 14,000
(70,000-56,000)
Dr Insurance exp 81,000
(95,000-14,000)
Cr Cash 95,000
2. Preparation of the appropriate journal entry if The CEO died at the end of 2021.
Dr Cash 6,000,000
Cr Cash surrender 70,000
Cr Gain on life 5,930,000
(6,000,000-70,000)
define private equity funds.
Answer:
keeping it private and not letting anyone find. out about it or keepin it from people
Meredith, Linda, and Peter are working together in a project team at a home appliances company. They had to select two out of five new products to be introduced in the next quarter. The team has a conflict over the choice of those two products. (a) Meredith, who is uncomfortable with confrontations, chooses to remain neutral by staying away from the argument. (b) Linda and Peter had a few arguments which were finally resolved when Linda gave in to Peter's demands.
In this situation, (a) Meredith used the____style of conflict resolution and (b) Linda used the_____style of conflict resolution.
Answer:
a) avoiding
b) accommodation
Explanation:
a) Meredith feels uncomfortable with confrontations, she chooses to remain neutral while staying away from the discussion, so it is correct to say that she used the style of avoiding conflict resolution, which occurs when individuals prefer to avoid a situation that can generate conflicts as in the case described in the matter, and so they prefer to act diplomatically avoiding confrontations and not giving opinions contrary to a given situation.
b) Linda used the accommodation style as she gave in to Peter's demands for the choice of products. In this style, the individual values the relationship with the other individual above his personal opinion, and therefore gives up on maintaining the conflict because of a situation that is less important to him than the maintenance of the relationship.
Direct materials $10 Direct labor $6 Variable manufacturing overhead $4 Fixed manufacturing overhead per year $220,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $6 Fixed selling and administrative expense per year $61,000 Year 1 Year 2 Units in beginning inventory 0 1,000 Units produced during the year 11,000 10,000 Units sold during the year 10,000 7,000 Units in ending inventory 1,000 4,000 The net operating income (loss) under variable costing in Year 1 is closest to:
Answer:
Results are below.
Explanation:
I will assume a selling price per unit of $60.
First, we need to calculate the total unitary variable cost:
Total unitary variable cost= direct material + direct labor + varaiboe overhead + variable selling and administrative expense
Total unitary variable cost= 10 + 6 + 4 + 6
Total unitary variable cost= $26
Now, we can structure the income statement:
Sales= 10,000*60= 600,000
Total variable cost= 10,000*26= ( 260,000)
Contribution margin= 340,000
Fixed manufacturing overhead per year= (220,000)
Fixed selling and administrative expense per year= (61,000)
Net operating income= 59,000
our community has a total of approximately 100,000 households. What percentage of households would be potential customers for The Shoe Hut? What percentage of households would be potential customers for Star's Coffee and Teas?
Answer:
Your community has a total of approximately 100,000 households. ... What percentage of households would be potential customers for Star's Coffee and Teas? approximately ... The Shoe Hut Star's Coffee and Teas has a lower barrier to entry
Explanation:
Cootributions of political institutions
Answer:
Contributions of political institutions are diverse, and very important for any society.
Explanation:
Institutions contribute to the law and order of a nation. They also help define and determine the government structure of a place. Institutions also promote economic development by incentivizing investment if certain specific institutions are in place, like property rights enforcement, and impartial laws. In fact, this last aspects has been explored at length by economists like Amartya Sen and Daron Acemoglu.
Cindy's apartment complex is offering renters insurance through their insurance company. The insurance company charges an annual premium of $565.00 which can be paid in equal payments throughout the year with her monthly rent. Cindy's monthly rent is currently $789.00. What will Cindy's new rent be if she includes the renters insurance?
Answer:
$836.08 per month
Explanation:
In order to calculate Cindy's new monthly rent, we would simply need to divide the renter's insurance by 12 since there are 12 months in a year. and then add that product to her monthly rent like so...
565.00 / 12 = 47.08
789 + 47.08 = 836.08
Finally, we can see that Cindy's new rent after including the renters insurance would be $836.08 per month
at the best answer for the question
The selling of goods and/or services to a customer is called
A.Service Industry
B.Food Service
C.Purchasing
D.Retail
Answer:
The correct answer is D. Retail.
Explanation:
Retail is the sale to the final consumer of goods and services. It is a sector formed by different branches (such as the food industry, the fashion industry, the home industry, etc.), which constitutes the last link in the supply chain that goes from the manufacturer to the consumer, it is In other words, it is the culmination of the process of production of goods and services, when they reach the consumer. This sale is usually carried out in stores, supermarkets, pharmacies, internet platforms and any other place where goods and services can be offered to final recipients.
Swifty Hardware reported cost of goods sold as follows. 2022 2021 Beginning inventory $ 31,000 $ 21,500 Cost of goods purchased 203,500 153,000 Cost of goods available for sale 234,500 174,500 Less: Ending inventory 35,000 31,000 Cost of goods sold $199,500 $143,500 Swifty made two errors: 1. 2021 ending inventory was overstated by $3,600. 2. 2022 ending inventory was understated by $6,550. Compute the correct cost of goods sold for each year. 2022 2021 Cost of goods sold
Answer:
See below
Explanation:
1. Correct amount of cost of goods sold 2022
= beginning inventory + cost of goods purchased - correct ending inventory
= $31,000 + $203,500 - ($35,000 - $6,550)
= $234,500 - $28,450
= $206,050
2.Correct amount of cost of goods sold 2021
= $21,500 + $153,000 - ($31,000 - $3,600)
= $139,900
Manufacturing uses normal costing for its job-costing system, which has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost category (manufacturing overhead). The following information is obtained for:_____.
• Total manufacturing costs, $8,450,000 • Manufacturing overhead allocated, $3,750,000 (allocated at a rate of 250% of direct manufacturing labor costs) • Work-in-process inventory on January 1, 2017, $390,000 • Cost of finished goods manufactured, $8,020,000
Requirements:
1. Use information in the first two bullet points to calculate (a) direct manufacturing labor costs in and (b) cost of direct materials used in .
2. Calculate the ending work-in-process inventory on December 31, 2011.
Answer:
Results are below.
Explanation:
Giving the following information:
Total manufacturing costs, $8,450,000
Manufacturing overhead allocated, $3,750,000 (allocated at a rate of 250% of direct manufacturing labor costs)
Work-in-process inventory on January 1, 2017, $390,000
Cost of finished goods manufactured, $8,020,000
First, we need to calculate the direct material and direct labor:
Direct labor= Manufacturing overhead allocated/2.5
Direct labor= 3,375,000 / 2.5
Direct labor= $1,350,000
Total manufacturing costs= Direct material + direct labor + allocated overhead
8,450,000= Direct material + 1,350,000 + 3,375,000
Direct material= $3,725,000
Finally, the ending work-in-process:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
8,020,000= 390,000 + 8,450,000 - Ending WIP
Ending WIP= $820,000
Edward and Tony are fraternity brothers. Edward has a dinner party to celebrate getting a new job. Tony helps Edward out with the dinner party, coming 3 hours before, helping with cooking, buying the ingredients for the dinner, and party set up, and staying after, to help with clean up after. The next day, Edward promises Tony that Edward will pay Tony $100 because of all the help Tony provided the day before at the dinner party. Is Edward's promise enforceable? Why or why not?
Answer:
Edward's promise is not enforceable. Tony had already performed the act. He did not perform based on Edward's promise. He performed because of their fraternal brotherhood.
Explanation:
This situation looks like a unilateral contract whereby Edward makes a promise to Tony to pay him $100. However, we observe that Tony did not perform his actions in consideration of this reward. He performed because they were fraternity brothers. Therefore, Tony cannot enforce Edward's promise in any court. It is only left for Edward to fulfill his promise as a gentleman, not because he is legally obliged to.
Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $4,590,000 (270,000 hours at $17/hour) and that factory overhead would be $1,570,000 for the current period. At the end of the period, the records show that there had been 250,000 hours of direct labor and $1,270,000 of actual overhead costs. Using direct labor hours as a base, what was the predetermined overhead rate? (Round your answer to two decimal places.)
Answer: $5.82 per direct labor hour
Explanation:
The predetermined overhead rate will be calculated as:
= Estimated overhead cost / Estimated direct labor hours
= 1570000/270000
= 5.82 per direct labor hour
Therefore, the predetermined overhead rate will be $5.82 per direct labor hour
function of the HR manager is concerned with employing people who
possess the necessary skills, knowledge, and aptitude
O Procurement
Development
O Motivation and compensation
STOS DE
TREI
O Integration
Answer:
Integration.
Explanation:
Human resources management (HRM) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.
Thus, human resources managers are saddled with the responsibility of recruiting, managing and improving the welfare and working conditions of the employees working in an organization.
The function of the HR manager that is concerned with employing people who possess the necessary skills, knowledge, and aptitude is known as integration. This is usually achieved through a recruitment process, which typically involves advertising a vacant position and accepting applications (resumes) from applicants who meet the minimum requirements.
Cincinnati Exporters wants to raise $40 million to expand its business. To accomplish this, it plans to sell 22-year, $1,000 face value, semiannual coupon bonds. The bonds will be priced to yield 6.85 percent and coupon rate of 5.72 percent. What is the minimum number of bonds it must sell to raise the money it needs
Answer:
Minimum number of units to be issued = 45,791.4 units
Explanation:
The units of the bonds to be sold to raise the money equals to the price of the bonds divided by the sum to be raised
The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity.
These cash flows include interest payment and redemption value
The price of the bond can be calculated as follows:
Step 1
PV of interest payment
Semi-annual coupon rate = 5.72/2 = 2.86 %
Semi-annual Interest payment =( 2.86 %×$1000)= $28.6
Semi annual yield = 6.85%/2 = 3.42%
PV of interest payment
= A ×(1- (1+r)^(-n))/r
A- interest payment, r- yield -3.42%, n- no of periods- 2 × 22 = 44 periods
= 28.6× (1-(1.0342)^(-44)/0.0342)= 645.82
Step 2
PV of redemption value (RV)
PV = RV × (1+r)^(-n)
RV - redemption value- $1000, n- 7, r- 4.5%
= 1,000 × (1+0.0342)^(-2×22)
= 1000 × 1.0342^(-44)= 227.7
Step 3
Price of bond = PV of interest payment + PV of RV
645.82 + 227.7= 873.525
Minimum number of units to be issued = $40 million/873.5= 45,791.4 units
Minimum number of units to be issued = 45,791.4 units
The BX11160 company has provided its contribution format income statement for a given month. Sales (8,000 units) $ 440,000 Variable expenses 280,000 Contribution margin 160,000 Fixed expenses 103,500 Net operating income $ 56,500 If the BX11160 company sells 7,900 units next month, how much would its net operating income expected to be next month? (Do not round intermediate calculations.)
Answer:
Net operating income= $48,500
Explanation:
First, we need to calculate the unitary contribution margin:
Unitary contribution margin= 160,000 / 8,000
unitary contribution margin= $20
Now, the net income for 7,600 units:
Contribution margin= 7,600*20= 152,000
Fixed expenses= (103,500)
Net operating income= $48,500
As of December 31, 2021, Purdue Corporation reported the following: Cash dividends payable $ 29,000 Treasury stock 690,000 Paid-in capital—share repurchase 29,000 Common stock and other paid-in capital accounts 4,900,000 Retained earnings 3,900,000 During 2022, half of the treasury stock was resold for $258,000; net income was $690,000; cash dividends declared were $590,000; and small stock dividends declared and distributed were $418,000. What would shareholders' equity be as of December 31, 2022?
Answer:
$8,542,000
Explanation:
Stockholder's equity is computed as seen below;
Common stock and paid in capital
$4,900,000
Retained earnings
$3,900,000
Treasury stock
($258,000)
Total stockholder's equity
$8,542,000
Therefore the shareholder equity basis as of Dec 31 2022 is $8,542,000
In 2005, a loan broker and appraiser working for a subsidiary of Bank of America appraised the Cassies home at a fair market value of $620,000. Based on that appraisal and other representations by lending personnel, the Cassies elected to refinance their home with a $495,000 adjustable rate mortgage. Lending personnel told them their home would appreciate and they would be able to sell or refinance the home at a later date before having to make higher monthly loan payments. In 2010, the Cassies discovered their home was valued at $250,000. The monthly mortgage payments doubled in size. The Cassies stopped making payments on the mortgage, which had a balance due of $625,000. Soon after, the fair market value of the house was $200,000. Then, the bank foreclosed on the house and the Cassies moved in with family. The Cassies sued Bank of America for fraud. What is the result?
A. The Cassies will lose.
B. The Cassies will recover partial value of their foreclosed home.
C. The Cassies will win.
Answer:
C. The Cassies will win.
Explanation:
In the given case, the cassies would win as this was appraisal fraud that done by the company employee who is a Bank of america Subsidiary. Here the loan broker and the appraiser increase the fair market value of cassies home i.e. $620,000 but it would be lesser that is $250,000. So this inflate the value in order to make the payment of high rate with related to the mortgage
Which of the following statements is correct regarding compensation expense for employers in publicly traded corporations?
a. Companies are only allowed to pay compensation of $1 million each to the top four executives.
b. The tax deductible compensation is limited to $2 million for the CEO and $1 million for the next four most highly paid employees.
c. Most performance-based compensation contracts in effect on November 2, 2017 are excluded from the limit.
d. Deductible compensation expense must be considered reasonable under the facts and circumstances of the employment.
Answer:
d. Deductible compensation expense must be considered reasonable under the facts and circumstances of the employment.
Explanation:
Elon Musks collected billions of dollars due to the excellent performance of Tesla's stocks. The compensation awarded to the CEO, CFO and maximum three other executives must be reasonable. Performance based compensation is not limited in an amount, instead they are limited on the number of people that receive them.
The following transactions took place for Smart Solutions Inc. 2017 a. July 1 Loaned $71,000 to an employee of the company and received back a one-year, 9 percent note. b. Dec. 31 Accrued interest on the note. 2018 c. July 1 Received interest on the note. (No interest has been recorded since December 31.) d. July 1 Received principal on the note. Required: Prepare the journal entries that Smart Solutions Inc. would record for the above transactions.
Answer:
Jul 1, 2017
Dr Notes receivable $71,000
Cr Cash $71,000
Dec 31, 2017
Dr Interest receivable $3,197
Cr Interest revenue $3,197
Jul 1, 2018
Dr Cash $6,390
Cr Interest receivable $3,197
Cr Interest revenue $3,197
Jul 1, 2018
Dr Cash $71,000
Cr Notes receivable $71,000
Explanation:
Preparation of the journal entries that Smart Solutions Inc. would record
Jul 1, 2017
Dr Notes receivable $71,000
Cr Cash $71,000
(Being To record given loan to employee and receipt a note)
Dec 31, 2017
Dr Interest receivable $3,197
(71000*9%*6/12)
Cr Interest revenue $3,197
(Being To record interest accrued)
Jul 1, 2018
Dr Cash $6,390
(3197+3197)
Cr Interest receivable $3,197
Cr Interest revenue $3,197
(71000*9%*6/12)
(Being To record receipt of the interest on maturity date)
Jul 1, 2018
Dr Cash $71,000
Cr Notes receivable $71,000
(Being To record receipt of the full principal)
A company establishes a $2,050 petty cash fund on May 2. On May 30, the fund shows $868 in cash along with receipts for the following expenditures: transportation-in, $160; postage expenses, $589; and miscellaneous expenses, $440. The petty cashier could not account for a $7 overage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare the (1) May 2 entry to establish the fund, (2) May 30 entry to reimburse the fund [Hint: Credit Cash Over and Short for $7 and credit Cash for $1,182], and (3) June 1 entry to increase the fund to $2,400.
Answer:
Explanation:
Petty cash $2,050
Cash $2,050
Merchandise inventory $160
Postage Expense $589
Misc. expenses $440
Credit:
Cash over and short $7
Cash
Petty Cash $350
Cash $350
(2400-2050)
Additional information: 1. New plant assets costing $80,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $46,000 and accumulated depreciation of $38,800 were sold for $1,200 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $20,824 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors. Prepare a statement of cash flows for Waterway Industries using the direct method.
Answer:
Cashflow Statement
Note the direct method is required for this question. This means, we reconcile the Net Income to Operating Profit by adjusting for Non-Cash items included in Income and Changes in Working Capital.
Explanation:
I have attached the full question as an image below.
Denver Systems has total assets of $1,000,000; common equity of $400,000; a gross profit of $800,000; total operating expenses of $620,000; interest expense of $20,000; income taxes of $74,000; and preferred dividends of $30,000. What is Denver Systems' return on equity
Answer:
See
Explanation:
A company expects to pay a dividend of $3.50 per share one year from today. the dividend is expected to grow at 30 percent per year for three years. Thereafter, the dividend will grow at 4 percent per year in perpetuity. if the appropriate discount rate for the stock is 13 percent, what is the price of the stock today
Answer: $70
Explanation:
Price = Present value of year 1 dividend + Present value of year 2 dividend + Present value of year 3 dividend + Present value of year 4 dividend + Present value of year 4 price
Year 4 price = Year 4 dividend / ( Required return - Growth rate after 3 years)
= (3.50 * 1.30³ * 1.04) / (13% - 4%)
= $88.856
Price = (3.50 / (1 + 13%)) + ( (3.50 * 1.3) / 1.13²) + ( (3.50 * 1.3²) / 1.13³) + ( (3.50 * 1.3³) / 1.13⁴) + 88.856/1.13⁴
= $69.97
= $70
Jan is a music teacher at an elementary school. She writes a play for her students to perform.
The next year, she learns that another elementary school copied and is performing the same
play. Jan never registered or published the play. Which of the following is true?
O A. Jan can sue for copyright infringement.
B
None of the above
O c.
Jan can sue for an injunction to stop the other school from performing her play
OD
Jan can't do anything since she didn't publish the play
O E.
Jan can't do anything since she didn't register her copyright
Answer:
E.
Explanation:
E. because if she report it people will say she listen to the play and copied it to make it look like her's.
2) Ralph Wood, the Vice President for Marketing, is planning to fly in his eight area sales managers for a yearly planning session. Sarah Sayre, the Vice President for Finance, complains that the company is in a weak, cash position and looks to Bill for a technological alternative to the planning session planned by Ralph. What are other companies doing about this
Answer:
Web conferencing
Explanation:
The technological alternative that can be suggested by Bill considering the company's weak cash position would be the use of Web conferencing session to host the yearly planning session, because that way the cost of accommodation, flight and other logistics can be avoided and the aim of the yearly planning session will still be achieved without having the company's finance suffering a lot.
Most companies are now adopting Web conferencing as a new and innovative means of holding meetings and very important sessions across their various offices simultaneously.
The aggregate demand aggregate supply mode is quite useful tool for us to understand the economy. So far, we saw only one change at a time, however, in reality, there can be multiple shocks at the same time. The economy was in long run equilibrium. Assuming all else equal, world scientists collaborated to invent a vaccine for everyone to be safe from deadly virus, raising productivity. This makes consumers and businesses optimist about the economy. At the same time, commodity market, namely oil market is calm, maintaining a stable supply.
1. Given above scenario, what do you think will happen to the LRAS, SRAS and AD curves in each in short run?
2. And what would happen to price level and output in the economy?
3. What about in long run?
Answer:
Explained below
Explanation:
1) From the question, we can deduce that in the short run, there will likely be news of the discovery/invention of a super vaccine which will make the consumers and the businesses to be optimistic about the future of the economy. Therefore, this will in turn lead to an increase in consumption by consumers and thus also lead to an producers making an increase in investment.
2) From answer 1 above, since there is an increase in consumption as well as investment, this will in turn also lead to an increase in the aggregate demand of the economy. Whereas, we are told that the oil market is calm and therefore we can say it does not have an effect on the supply curve.
From the first image attached, increase in the aggregate demand led to an increase in price level from point P to P1 on the y-axis while output output level increased from point Y to point Y1 on the x-axis.
3) In the long run, due to the increase in demand in the short run that makes the supply curve shift to its right, it means the producers will have more of the goods produced. This will in turn reduce the price to its initial level and also increase the output level. From the second diagram, this will lead to a shift long run aggregate supply from LRAS to LRAS1 on the x-axis.
Amrik started a business on 1 January 2017 and purchased a machine costing $18 000. He decided to depreciate the machine at 20% per annum using the reducing (diminishing) balance method. No depreciation was to be charged in the year of disposal. The machine was up sold for \$13 30 300 on 1 July 2018. What was the profit or loss on the sale of the machine? A Loss $1100 B Loss $4700 C Profit $1780 D Profit $2500 ОА Ов Ос OD
Answer: A. Loss $1,100
Explanation:
Value at the end of the first year after depreciation:
= 18,000 * (1 - 20%)
= $14,400
No depreciation was charged in the year of sale which is 2018 so only a year of depreciation applies.
Profit (loss) = Sales price - Net book value
= 13,300 - 14,400
= -$1,100
define return( rate of return).
Answer:
its returning the rate that was given out
i guess i jus gave it a try
Find a false statement on bond duration. Multiple choice question. With time to maturity and yield to maturity held constant, a bond's duration and interest rate sensitivity are higher when the coupon rate is lower. With other factors held constant, the duration of a coupon bond is higher when the bond's yield to maturity is higher. Duration always increases with maturity for a premium bond. The duration of a zero-coupon bond equals its time to maturity.
Answer:
✓With time to maturity and yield to maturity held constant, a bond's duration and interest rate sensitivity are higher when the coupon rate is lower.
✓The duration of a zero-coupon bond equals its time to maturity.
✓Duration always increases with maturity for a premium bond.
Explanation:
Bond duration in finance can be regarded as a way used in measuring
the likelyhood or how much the prices of bond to change when and there is a movement in interest rates. It can be defined as the measurement of the risk interest rate. With Understanding about bond duration, it will be easier for investors to determine how bonds can fit in to investment portfolio. It should be noted that With other factors held constant, the duration of a coupon bond is higher when the bond's yield to maturity is higher.
You have $B in your bank account. You are asked if you would like to participate in a bet in which, if you win, your bank account will become $W. However, if you lose, your bank account will contain only $L. You win the bet with probability pw. How large should pw be to accept the bet? (
Answer:
Pw = ( B - L ) / ( W-L )
Explanation:
pW + pL = 1 ------ ( 2 )
Expected value after placing bet = W*pW + L*pL ------ ( 2 )
pL = ( 1 - pW ) from equation 1
rewrite equation 2
W*pW + L*( 1 - pW ) ------ (3)
The condition to accept bet is ; W*pW + L*( 1 - pW ) > $B
= W*pW + L - LpW > $B ( factorize )
= ( W - L ) * pW + L > $B
hence the value of Pw = ( B - L ) / ( W-L )
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $226,800 of raw materials on credit; issued materials to production of $219,000 of which $37,200 were indirect. Minstrel incurred a factory payroll of $164,400, of which $47,200 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,900 and $31,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.
Answer:
$460,900
Explanation:
The computation of the cost of jobs transferred to Finished Goods Inventory is shown below:
= beginning wip + Direct material + direct labor + manufacturing overhead - closing wip
= $17,900 + ($219,000 - $37,200) + ($164,400 - $47,200) + 150% of $117,200 - $31,800
= $17,900 + $181,800 + $117,200 + $175,800 - $31,800
= $460,900