Leslie McCormack is in the spring quarter of her freshman year of college. She and her friends already are planning a trip to Europe after graduation in a little over three years. Leslie would like to contribute to a savings account over the next three years in order to accumulate enough money to take the trip. Assume an interest rate of 6%, compounded quarterly. (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.)
How much will she accumulate in three years by depositing $580 at the end of each of the next 12 quarters, beginning three months from now?
Table or calculator function:
Payment:
n =
i =
Future Value:
Answers
Answer:
the future value is $ 7,563.90
Explanation:
The computation of the future value is shown below:
Given that
RATE = 0.06 ÷ 4 = 0.015
NPER = 12
PMT = $580
PV = $0
The formula is given below:
= -FV(RATE,NPER,PMT,PV)
After applying the above formula the future value is $ 7,563.90
Related Questions
a. Issued common stock to investors for $21.4 cash (example).
b. Purchased $1,621.6 of additional inventory on account.
c. Paid $34.1 on long-term debt principal and $2.6 in interest on the debt.
d. Sold $2,355 of products to customers on account; cost of the products sold was $1,456.6. (Hint: There are two separate effects needed for (d): one for earning revenue and one for incurring an expense.)
e. Paid cash dividends of $32 to shareholders.
f. Purchased for cash $32.4 in additional property, plant, and equipment.
g. Incurred $718.6 in selling expenses, paying three-fourths in cash and owing the rest on account.
h. Earned $1 of interest on investments, receiving 80 percent in cash.
i. Incurred $43 in interest expense to be paid at the beginning of next year.
Required:
For each of the transactions, write down the tabulation, indicating the effect (+ for increase and - for decrease) of each transaction.
Answers
Answer:
Following are the solution to this question:
Explanation:
[tex]Sheet \ balancing \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ Declaration \ of \ revenue[/tex]
[tex]Payment \ \ \ Properties\ \ \ Liability \ \ \ \ equity \ of\ shareholders\ \ \ Revenues\ \ \ Expenses\ \ \ Net \ Income \\\\[/tex][tex]a\ \ \ \ \ \ \ \ \ \ \ \ 19.4 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 19.4 \\\\b \ \ \ \ \ \ \ \ \ \ \ 1676.6 \ \ \ \ \ \ \ \ \ 1676.6 \\\\[/tex]
[tex]c \ \ \ \ \ \ \ -54.7 \ \ \ \ \ \ \ \ \ \ -50.1 \ \ \ \ \ \ \ \ \ \ \ -4.6 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 4.6 \ \ \ \ \ \ \ -4.6 \\\\[/tex]
[tex]d \ \ \ \ \ \ \ \ \ \ \ 2389.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 2389.0 \ \ \ \ \ \ \ \ \ \ \ 2389.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 2389.0\\\\[/tex]
[tex]-1421.6 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ -1421.6 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 1421.6 \ \ \ \ \ \ \ \ \ \ \ \ -1421.6[/tex]
[tex]e \ \ \ \ \ \ \ \ \ -33.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ -33.0[/tex]
[tex]f \ \ \ \ \ \ \ \ \ \ 0.0 \ \ \ \ \ \ \ \ \ \ 0.0 \ \ \ \ \ \ \ \ \ \ 0.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 0.0 \ \ \ \ \ \ \ \ \ \ 0.0\\\\g\ \ \ \ \ \ \ \ \ \ -533.7 \ \ \ \ \ \ \ \ \ \ 177.9\ \ \ \ \ \ \ \ \ \ -711.6 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 711.6 \ \ \ \ \ \ \ \ \ \ -711.6\\\\[/tex]
[tex]h\ \ \ \ \ \ \ \ \ \ 0.5 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 0.5 \ \ \ \ \ \ \ \ \ \ 0.5 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 0.5[/tex]
[tex]i \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 42.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ -42.0 \ \ \ \ \ \ \ \ \ \ \ \ \ \ 42.0\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ -42.0[/tex]
Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory Finished goods (units) 30,000 80,000 Raw material (grams) 60,000 50,000 Each unit of finished goods requires 3 grams of raw material. The company plans to sell 770,000 units during the year. How much of the raw material should the company purchase during the year
Answers
Answer:
See below
Explanation:
Raw materials purchased is computed as;
Raw material purchase = Ending inventory + required for production - beginning inventory
= 50,000 + ((80,000 + 770,000 - 30,000) × 3) - 60,000
= 50,000 + 2,460,000 - 60,000
= 2,450,000 grams
Barnes Company uses a job order cost system. The following data summarize the operations related ...
Barnes Company uses a job order cost system. The following data summarize the operations related to production for October:
October 1 Materials purchased on account, $315,500.
2 Materials requisitioned, $290,100, of which $8,150 was for general factory use.
31 Factory labor used, $489,500, of which $34,200 was indirect.
31 Other costs incurred on account for factory overhead, $600,000; selling expenses, $150,000; and administrative expenses, $100,000.
31 Prepaid expenses expired for factory overhead were $18,000; for selling expenses, $6,000; and for administrative expenses, $5,000.
31 Depreciation of office building was $30,000; of office equipment, $7,500; and of factory equipment, $60,000.
31 Factory overhead costs applied to jobs, $711,600.
31 Jobs completed, $1,425,000.
31 Cost of goods sold, $1,380,000.
Required:
Journalize the entries to record the summarized operations. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. ONLY 26 LINES CAN BE USED
Answers
Answer:
Journal Entries
October 1
Materials Dr $315,500
Accounts payable Cr $315,500
October 2
Work in process Dr $281,950
Factory overhead Dr $8,150
Materials Cr $290,100
October 31
Work in process Dr $455,300
Factory overhead Dr $34,200
Wages payable Cr $489,500
October 31
Factory overhead Dr $600,000
Selling expense Dr $150,000
Administrative expense Dr $100,000
Accounts payable Cr $850,000
October 31
Factory overhead Dr $18,000
Selling expense Dr $6,000
Administrative expense Dr $5,000
Prepaid expense Cr $29,000
October 31
Depreciation expense - Office Building Dr $30,000
Depreciation expense - Office Equipment Dr $7,500
Factory overhead Dr $60,000
Accumulated depreciation- Buildings and equipment Cr $97,500
October 31
Work in process Dr $711,600
Factory overhead Cr $711,600
October 31
Finished goods $1,425,000
Work in process Cr $1,425,000
October 31
Cost of goods Dr $1,380,000
Finished goods Cr $1,380,000
Madison Corporation purchased 40% of Jay Corporation for $300,000 on January 1. On June 20 of the same year, Jay Corporation declared total cash dividends of $75,000. At year-end, Jay Corporation reported net income of $375,000. The balance in Madison's Equity Method Investments—Jay Corporation account as of December 31 should be:
Answers
Answer:
$420,000
Explanation:
Given the above information,
Dividend
= $75,000 × 40%
= $30,000
Share in income
= $375,000 × 40%
= $150,000
Balance in investment account
= Beginning balance + Share in income - Dividend
= $300,000 + $150,000 - $30,000
= $420,000
Therefore, the balance in Madison's equity method investments - Jay Corporation accounts as of December 31 should be $420,000
"1. AudioCables, Inc., is currently manufacturing an adapter that has a variable cost of $.50 per unit and a selling price of $1.00 per unit. Fixed costs are $14,000. Current sales volume is 30,000 units. The firm can substantially improve the product quality by adding a new piece of equipment at an additional fixed cost of $6,000. Variable costs would increase to $.60, but sales volume should jump to 50,000 units due to a higher-quality product. Should AudioCables buy the new equipment?"
Answers
Answer:
No.
Explanation:
Current profit of AudioCables, Inc without buying new equipment
Current Profit = Current sales volume * Selling price per unit - Fixed cost - Current sales volume * Variable cost per unit
= 30,000 * $1.00 - $14,000 - 30,000 * $0.50
= $30,000 - $14,000 - $15,000
= $1,000
So, the current profit of AudioCables, Inc., without buying new equipment is $1,000
Proposed profit of AudioCables, Inc after buying new equipment
Proposed Profit = Proposed sales volume * Selling price per unit – Fixed cost after buying new equipment - Proposed sales volume * Variable cost per unit after buying new equipment
= 50,000 * $1.00 - $20,000 – 50,000 * $0.60
= $50,000 - $20,000 - $30,000
= $0
So, the proposed profit of AudioCables, Inc., after buying new equipment is $0
Conclusion: As the profit of AudioCables, Inc., will reduce after buying new equipment from $1,000 to $0, therefore AudioCables should not buy the new equipment.
During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds.
Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.)
Weaver Company
Statement of Cash Flows
For This Year Ended December 31
Operating activities:
Investing activities:
Financing activities:
Beginning cash and cash equivalents
Ending cash and cash equivalent
Answers
Answer:
Operating activities:
None
Investing Activities:
Loss on disposal (31 - 10 -19) $3
Financing Activities:
Gain on Long term investment (13 - 7) $6
Cash dividend paid $39
Explanation:
Weaver had incurred transactions which involved exchange of cash so they are reported in the statement of cash flows. These transactions are classified as either operating activity, investing activity or financing activity depending on the nature of transaction.
The risk-free rate of return is 8%, the expected rate of return on the market portfolio is 15%, and the stock of Xyrong Corporation has a beta coefficient of 1.2. Xyrong pays out 40% of its earnings in dividends, and the latest earnings announced were $10 per share. Dividends were just paid and are expected to be paid annually. You expect that Xyrong will earn an ROE of 20% per year on all reinvested earnings forever. (LO 13-2) a. What is the intrinsic value of a share of Xyrong stock
Answers
Answer:
$101.82
Explanation:
the intrinsic value of the stock can be determined by determining the value of the stock using the constant growth dividend model
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = required return
g = growth rate
growth rate = retention rate x ROE
Retention rate = 1 - payout ratio = 1 - 0.4 = 0.6
0.6 x 20% = 12%
dividend = 0.4 x $10 = $4
the required return can be determined using the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)
0.08 + 1.2(0.15 - 0.08) = 0.164 = 16.4%
Intrinsic value = 4 ( 1.12) / (0.164 - 0.12) = 4.48/0.044 = $101.82
Ephraim Corporation acquired 80 percent of Lilac Corporation for $200,000 cash. Lilac reported net income of $25,000 each year and dividends of $5,000 each year for 20X2, 20X3, and 20X4. On January 1, 20X2, Lilac reported common stock outstanding of $160,000 and retained earnings of $40,000, and the fair value of the noncontrolling interest was $50,000. It held land with a book value of $90,000 and a market value of $100,000, and equipment with a book value of $40,000 and a market value of $48,000 at the date of combination. The remainder of the differential at acquisition was attributable to an increase in the value of patents, which had a remaining useful life of eight years. All depreciable assets held by Lilac at the date of acquisition had a remaining economic life of eight years. Ephraim uses the equity method in accounting for its investment in Lilac.
Based on the preceding information, what balance would Ephraim report as its investment in Lilac at January 1, 20X5?
a. $236,000
b. $248,000
c. $260,000
d. $300,000
Answers
Answer:
a. $236,000
Explanation:
Ephraim acquired 80% of Lilac corporation.
The consideration paid was $200,000 in cash
Lilac had income of $25,000 and paid $5,000 of dividend.
Land and equipment had book value different from market value.
market values are considered for the investment
$100,000 - $90,000 + $48,000 + $25,000 - $40,000 = $43,000
$43,000 * 80% = $34,000
Total investment value = $200,000 + $34,000 + dividend NCI
Total Investment Value = $236,000
Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below:
Total budgeted fixed overhead cost for the year $250,000
Actual fixed overhead cost for the year $254,000
Budgeted direct labor-hours (denominator level of activity) 25,000
Actual direct labor-hours 27,000
Standard direct labor-hours allowed for the actual output 26,000
Required:
a. Compute the fixed portion of the predetermined overhead rate for the year.
b. Compute the fixed overhead budget variance and volume variance.
Answers
Answer:
1. Predetermined overhead rate = Total fixed overhead cost year / Budgeted standard direct labor hours
Predetermined overhead rate = $250,000 / 25,000
Predetermined overhead rate = $10.00 per direct labor hour
2. Fixed overhead budget variance = Actual fixed overhead - Budgeted fixed overhead
Fixed overhead budget variance = $254,000 - $250,000
Fixed overhead budget variance = $4,000 (Unfavorable)
Fixed overhead volume variance = Budgeted fixed overhead - [Fixed overhead applied to work in process]
Fixed overhead volume variance = $250,000 - (26,000*$10)
Fixed overhead volume variance = $250,000 - $260,000
Fixed overhead volume variance = $10,000 (Favorable)
Consider the simple 3-station assembly line illustrated below, where the 2 machines at Station 1 are parallel, i.e., the product only needs to go through one of the 2 machines before proceeding to Station 2. Station 1 Machine A has a capacity of 3 units per hour; Station 1 Machine B has a capacity of 3 units per hour; Station 2 has a capacity of 5 units per hour; Station 3 has a capacity of 10 units per hour What is the bottleneck time of this process
Answers
Answer:
The bottleneck time for this process is 20 minutes.
Explanation:
a) Data and Calculations:
Station Capacity per hour Time required per unit
1 A 3 20 minutes (60/3)
1 B 3 20 minutes (60/3)
2 5 12 minutes (60/5)
3 10 6 minutes (60/10)
Total demand for the process = 38 minutes (20+12+6)
b) The bottleneck is the station that requires the longest time for its outputs to be processed. The bottleneck in this process is given by Station One, requiring 20 minutes to meet output requirements through either machine A or machine B. The bottleneck constitutes a constraint on the process capacity to achieve results.
Santa Monica adopted a rent control ordinance authorizing the Rent Control Board to set the amount of rents that could be charged. At a hearing before it, the board determined that McHugh was charging his tenants a rent higher than the maximum allowed. McHugh claimed that the action of the board was improper because there was no jury trial. Is McHugh correct
Answers
Answer:
No. McHugh is not correct.
Explanation:
A jury trial is not necessarily required in all cases. The Board is like a panel of judges who decide a case after preliminary investigations have been conducted and the facts established. Moreover, the case is a civil matter and not a criminal issue that would require the presence of a jury. It is not improper for a legally constituted board to hear a civil disobedience case and render a verdict, according to established rules.
On May 7, Bergan Company purchased on account 10,000 units of raw materials at $8 per unit. During May, raw materials were requisitioned for production as follows: 7,500 units for Job 200 at $8 per unit and 1,480 units for Job 305 at $5 per unit.
Required:
Journalize the entry on May 7 to record the purchase
Answers
Answer:
The entry on May 7 to record the purchase
Debit : Raw Materials $80,000
Credit : Accounts Payable $80,000
Explanation:
The entry on May 7 to record the purchase is prepared above.
A sales manager, Dev, is facing an ethical situation wherein his bicycle company that specializes in mountain bikes sold a bicycle with a defective component. If he informs the customer and issues a recall, it would cost him a substantial amount of money. If the bike malfunctions, there is a very small chance that it could cause serious injury to a cyclist who might use it on rough terrain. He decides to use the egoism approach to decision making and remain silent about the defect, because he:________.
A) is motivated by self-interest.
B) is looking to accomplish the greatest good for the greatest number of people.
C) wants to first consult with his insurer.
D) is motivated to protect the interests of his employees.
E) wants to first consult with others whom he respects.
Answers
Answer:
A) is motivated by self-interest.
Explanation:
He decides to use the egoism approach to decision making and remain silent about the defect, because he is motivated by self-interest.
Self-interest refers to some actions that elicit personal benefit.
The egoist approach to ethics is based on the principles of self-interest, individual good, and satisfaction.
Therefore the correct answer is that sales manager, Dev is motivated by self-interest.
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $40,190 per month plus $2709 per flight plus $10 per passenger. The company expected its activity in August to be 88 flights and 300 passengers, but the actual activity was 91 flights and 303 passengers. The actual cost for plane operating costs in August was $258,690. The plane operating costs in the planning budget for August would be closest to:
Answers
Answer:
$281,612
Explanation:
Plane Operating Cost = Fixed cost + (Variable cost per unit1 × q1) + (Variable cost per unit 2 × q2)
Plane Operating Cost = $40,190 + ($2709*88) + ($10 * 303)
Plane Operating Cost = $40,190 + $238,392 + $3,030
Plane Operating Cost = $281,612
So, the plane operating costs in the planning budget for August would be $281,612
At the beginning of April, Owl Corporation has a balance of $12,500 in the Retained Earnings account. During the month of April, Owl had the following external transactions.
1. Issue common stock for cash, $12,000.
2. Provide services to customers on account, $8,000.
3. Provide services to customers in exchange for cash, $2,700.
4. Purchase equipment and pay cash, $7,100.
5. Pay rent for April, $1,300.
6. Pay employee salaries for April, $3,000.
7. Pay dividends to stockholders, $1,750.
Required:
Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)
Answers
Answer:
$17,150
Explanation:
Computation for the balance of Retained Earnings at April 30.
Retained earnings beginning balance $12,500
Add Provide services to customers on account, $8,000
Add Provide services to customers in exchange for cash $2,700
Less Pay rent for April ($1,300 )
Less Pay employee salaries for April, ($3,000)
Less Pay dividends to stockholders, ($1,750)
Balance of Retained Earnings at April 30 $17,150
Therefore the balance of Retained Earnings at April 30 will be $17,150
Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 7%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 0.50%, which are deducted from portfolio assets at year-end.
What is the net asset value at the start and end of the year?
Answers
Answer:
$19.43
Explanation:
Net asset value at the end of the year = ($219,000,000 / 12,000,000 shares) * 1.07 * (1 - 0.005)
Net asset value at the end of the year = $18.25 * 1.07 * 0.995
Net asset value at the end of the year = $19.4298625
Net asset value at the end of the year = $19.43
When the government imposes an excise tax in a market with a downward-sloping demand curve and an upward-sloping supply curve: _________.
a. consumer surplus falls, producer surplus falls, and a deadweight loss occurs.
b. consumer surplus falls.
c. producer surplus falls.
d. a deadweight loss occurs.
Answers
Answer:
A
Explanation:
Tax is a compulsory sum levied on the price of goods and services. It increases the price of goods and services
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
If tax increases the price of the good, consumer surplus would reduce
For example, willingness to pay is $20, price before tax is $5 and price after tax is $10. consumer surplus becomes $10 when it was $15 initially
Tax reduces the amount that would be received by the seller. This reduces consumer surplus.
Deadweight loss is the decrease in quantity demanded as a result of tax. Because tax increases price, the quantity demanded would reduce
Pulau Penang Island Resort. Theresa Nunn is planning a 30-day vacation on Pulau Penang, Malaysia, one year from now. The presentcharge for a luxury suite plus meals in Malaysian ringgit (RM) is RM1,045/day. The Malaysian ringgitpresently trades at RM3.1350/$. She figures out the dollar cost today for a 30-day stay would be$10,000. The hotel informed her that any increase in its room charges will be limited to any increase inthe Malaysian cost of living. Malaysian inflation is expected to be 2.75% per annum, while U.S. inflationis expected to be only 1.25%.
a. How many dollars might Theresa expect to need one year hence to pay for her 30-day vacation?
b. By what percent will the dollar cost have gone up? Why?
Answers
Answer:
A) $10124.83
B) 1.0125%
Explanation:
1) We are told that the present charge for a luxury suite is RM 1,045/day.
This means that the charge after one year will also include inflation charge.
Thus;
Charge after 1 year = 1045 × (1 + 2.75%)
= 1045 × 1.0275 = RM 1,073.7375 per day
For 30 days, charge is;
1073.7375 × 30 = RM 32212.125
Spot exchange rate in 1 year = spot rate × (1 + RM inflation rate)/(1 + US inflation rate)
Spot exchange rate in 1 year = 3.135 × (1 + 2.75%)/(1 + 1.25%) = 3.135 × 1.0275/1.0125 = 3.1815
Cost needed one year to pay for 30 day vacation = 32212.125/3.1815 = $10124.83
B) percent by which the dollar cost will have gone up = (10124.83/10000) × 100% = 1.0125%
Marginal product is rev: 06_21_2018 Multiple Choice the amount an additional worker adds to the firm's total output. a worker's output multiplied by the price at which each unit can be sold. the output of the least skilled worker. the amount any given worker contributes to the firm's total revenue.
Answers
Answer:
the amount an additional worker adds to the firm's total output.
Explanation:
The marginal product of an input is the change in total output as a result of the change in output by 1 unit
For example, the table below is the total product of labour
amount of labour output
1 10
2 20
3 40
the marginal product of the 3rd worker = (40 - 20) / (3 - 2) = 20
marginal product of the second worker = (20 - 10) / (2 -1 ) = 10
Average output = total output / labour
Bluestone Company had three intangible assets at the end of the current year:
a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $3,200. When purchased, the patent had an estimated life of 16 years.
b. A trademark was registered with the federal government for $7,500. Management estimated that the trademark could be worth as much as $190,000 because it has an indefinite life.
c. Computer licensing rights were purchased this year on January 1 for $70,000. The rights are expected to have a five-year useful life to the company.
Required:
1. Compute the acquisition cost of each intangible asset.
Acquisition Cost
Patent
Trademark
0
2. Compute the amortization of each intangible for the current year ended December 31. (Do not round intermediate calculations.)
Amortization Expenses
Patent
Trademark
0
3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year.
BLUESTONE COMPANY
Income Statement (partial)
For the year ending December 31
BLUESTONE COMPANY
Balance sheet (partial)
At December 31
Intangibles:
Answers
Answer:
Bluestone Company
1. Acquisition cost of each intangible asset:
Patent $3,200
Trademark = $0
Licensing Rights = $70,000
2. Amortization for the current year ended December 31:
Amortization Expenses:
Patent = $200 ($3,200/16)
Trademark = $7,500 (expensed in full)
Licensing Rights = $14,000 ($70,000/5)
3. BLUESTONE COMPANY
Income Statement (partial)
For the year ending December 31
Amortization Expenses:
Patent $200
Licensing Rights $14,000
Trademark expense $7,500
BLUESTONE COMPANY
Balance sheet (partial)
At December 31
Intangibles:
Patent $3,200
Acc. Amortization 200 $3,000
Licensing Rights $70,000
Acc. Amortization 14,000 $56,000
Explanation:
a) Data and Calculations:
a. Purchased patent on January 1 for $3,200 Estimated life 16 years
b. Internally developed trademark is expensed: $7,500
c. Purchasing Licensing Rights on January 1 for $70,000 for 5 years
What does a sticky CTA do?
Answers
Answer:
It encourages users to revisit your website.
Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $24.19 billion. The country collected $22.9 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance?
Answers
Answer: Lilliput is a country that has closed borders and does not import or export any goods or services
Explanation:
A local bookstand believes that the demand for the Olympic edition of a sports magazine is normally distributed with a mean of 1,200 and a standard deviation of 200. Each copy of the magazine costs the bookstand $1.50 per copy, and the bookstand will sell the issue for $5.00. Following the Olympic Games, there will be no demand for the magazine, and all leftover copies will be recycled because they will have no salvage value. What is the optimal number of copies of the Olympic edition that the bookstand should order?
Answers
Answer:
1,304 copies
Explanation:
Overage cost (Co) means like cost of over ordering
Co = Cost price - Salvage value
Co = $1.50 - $0 (No salvage value)
Co = $1.50
Underage cost (Cu) means like cost of under ordering
Cu = Selling price - Cost price
Cu = $5.00 - $1.50
Cu = $3.50
Service level = Cu / (Cu + Co)
Service level = $3.50 / ($3.50 + $1.50)
Service level = $3.50 / $5.00
Service level = 0.7
Z-value = NORMSINV (Service level), Using Ms Excel
Z-value = NORMSINV (0.7)
Z-value = 0.52
Optimal Order Quantity (Q) = Mean Demand + (Z-value*Standard deviation)
Optimal Order Quantity Q = 1,200 + (0.52*200)
Optimal Order Quantity Q = 1,200 + 104
Optimal Order Quantity Q = 1,304 copies
"Betty has been working for Bright Fires for about five years. She compares herself to different managers, such as Meg, who works for the competitor in a similar work position. Betty feels disheartened when she finds out that she is significantly underrewarded at Bright Fires. From Betty's view in this situation, Meg is a(n)"
Answers
Answer:
External comparison
(occupational equity)
Explanation:
Motivation is commonly defined as a set of distinct energetic forces that occurs as a result of both within and outside an employee; start with work-related effort; and set its direction, intensity, and constancy.
Equity theory is simply a theory of motivation. It shows that motivation is based on an individual's views of his/her life and what happens in lives of other people.
comparison others
Based on the theory of equity, this is the act of viewing or examination our own efforts and results and them comparing them to the efforts and results of others people. Therefore we use the other individuals as a comparison other.
External comparison
Is simply defined as the act by which an individual or employee of a company is compared of himself or herself to an employee from another company . That is When an employee from another company is known as the "comparison other," .
Answer:
External competitor
Explanation:
External competitiveness can be described as a pay relationship that exists between two competitors. It is what an organization pays in comparison to what other organizations who are their competitors pay.
Meg is an external competitor because she works in a similar position as Betty in a different organization. So betty is comparing her pay in bright fires in relation to meg's pay in her organization
Which is NOT a type of warranty in UCC Article 2 for the sales of goods?
warranty of title
warranty of fitness for a particular purpose
warranty of consumerability
warranty of merchantability
I am pretty sure the answer is the 3rd one
Answers
Answer:
Warranty of consumerability
Explanation:
edge 2021
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 $54,000 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 10 percent of your annual salary in an account that will earn 9.4 percent per year. Your salary will increase at 4 percent per year throughout your career. How much money will you have on the date of your retirement 45 years from today
Answers
Answer:
I will have $5,319,216.16 on the date of retiremnet.
Explanation:
First, we need to calculate the amount of deposit
Amount of annual deposit = Annual salary x Deposit rate
Amount of annual deposit = $54,000 x 10%
Amount of annual deposit = $5,400
Now use the following formula to calculate the balance in the account after 45 years from today
Future value of annuity = [ Periodic Annuity payment x ( 1 + growth rate ) / ( Interst rate - growth rate ) ] x [ ( 1 + interest rate )^numbers ofyears - ( 1 + growth rate )^numbers of years ]
Where
Periodic Annuity payment = Amount of annual deposit = $5,400
Periodic interest rate = 9.4%
Periodic growth rate = 4%
Numbers of years = 45 years
Future value of annuity = Balance after 45 years = ?
Placing values in the formula
Balance after 45 years = [ $5,400 x ( 1 + 4% ) / ( 9.4% - 4% ) ] x [ ( 1 + 9.4% )^45 - ( 1 + 4% )^45 ]
Balance after 45 years = [ $5,616 / 5.4% ] x [ ( 1.094^45 ) - ( 1.04^45) ]
Balance after 45 years = $104,000 x [ 56.987484867 - 5.841175681 ]
Balance after 45 years = $104,000 x 51.146309186
Balance after 45 years = $5,319,216.155344
Balance after 45 years = $5,319,216.16
OK, WHO EVER IS IMPOSTER YOU BETTER TELL US NOW >:[
A) It's TOTALLY ME!!!
B) It's not me.
C) It's SOOOO not me :/
D) It's not me because *gives a whole big paragraph*
E) *silence*
F) I don't know :|
Answers
There are 20 AAA batteries in a box and 7 are defective. Two batteries are selected without replacement. What is the probability of selecting a defective battery followed by another defective battery?
Answers
Answer: 0.11
Explanation:
There are 20 AAA batteries in a box and 7 are defective. If two batteries are selected without replacement, the probability of selecting a defective battery will be 7/20.
The probability of selecting another defective battery will be 6/19 as there will be 19 batteries left and 6 defective.
Then, the probability of selecting a defective battery followed by another defective battery will be:
= 7/20 × 6/19
= 42/380
= 0.11
Bell Inc. took a physical inventory at the end of the year and determined that $840,000 of goods were on hand. In Addition, the following items were not included in the physical count. Bell, Inc. determined that $96,000 of goods Be Purchased where in transit that were shipped f.o.b. destination (goods were actually received by the company three days after the inventory count).The company sold $40,000 worth of inventory f.o.b. shipping point. What amount should Be Reported as inventory at the end of the year
Answers
Answer:
Explanation:
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I need help with this question please