Answer:
The relationship with the customer is a strategic factor for commercial growth.The relationship with customers creates sales opportunities.The relationship with customers creates a relationship of trust.The relationship with customers creates loyalty.The relationship with customers solves problems quickly.Explanation:
The relationship with customers is an essential factor for commercial success. This is because it allows a more personal contact, allowing the recognition of the customer's needs and promoting products, services and marketing that meets those needs, allowing the customer to feel supported by the company and create a loyalty relationship with it.
On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using the straight-line method, with an estimated useful life of eight years, and no salvage value. On January 1, 2018, Lake determined that the machine had a useful life of six years from the date of acquisition, and a salvage value of $96,000. An accounting change was made in 2018 to reflect these data. The accumulated depreciation for this machine should have a balance at December 31, 2018, of ________. Group of answer choices
Answer:
$584,000
Explanation:
The computation of the accumulated depreciation is shown below:
But before that following calculations need to be determined
Depreciation for 3 years = $1,056,000 ÷ 8 years × 3 years
= $396,000
Now the written down value is
= $1,056,000 - $396,000 - $96,000
= $564,000
For one year it would be
= $564,000 ÷ 3
= $188,000
Now the accumulated depreciation is
= $396,000 + $188,000
= $584,000
Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,200, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $66,720. Shore paid freight of $1,800. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. Inventory fill in the blank 002d1202e07bfb8_2 fill in the blank 002d1202e07bfb8_3 Accounts Payable fill in the blank 002d1202e07bfb8_5 fill in the blank 002d1202e07bfb8_6 Accounts Payable fill in the blank 002d1202e07bfb8_8 fill in the blank 002d1202e07bfb8_9 fill in the blank 002d1202e07bfb8_11 fill in the blank 002d1202e07bfb8_12 fill in the blank 002d1202e07bfb8_14 fill in the blank 002d1202e07bfb8_15 fill in the blank 002d1202e07bfb8_17 fill in the blank 002d1202e07bfb8_18 fill in the blank 002d1202e07bfb8_20 fill in the blank 002d1202e07bfb8_21 fill in the blank 002d1202e07bfb8_23 fill in the blank 002d1202e07bfb8_24 Journalize Blue Star Co.'s entry for the sale, purchase, and payment of amount due. If an amount box does not require an entry, leave it blank. fill in the blank 2aa3cd04cfa0046_2 fill in the blank 2aa3cd04cfa0046_3 fill in the blank 2aa3cd04cfa0046_5 fill in the blank 2aa3cd04cfa0046_6 fill in the blank 2aa3cd04cfa0046_8 fill in the blank 2aa3cd04cfa0046_9 fill in the blank 2aa3cd04cfa0046_11 fill in the blank 2aa3cd04cfa0046_12
Answer:
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
Dr Accounts Payable $111,560
Cr Cash $111,560
Explanation:
Preparation of the journal entries for Shore Co.'s entry for the sale, purchase, and payment of amount due
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
[$112,000*(100%-2%)]
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
($109,760+$1,800)
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
($109,760+$1,800)
Dr Accounts Payable $111,560
Cr Cash $111,560
($109,760+$1,800)
The company recorded $5,000 sales with 60% contribution margin ratio in 2019. According to the sales manager, the company can increase the sales volume by 30% this year if the company spends $400 as advertisement expense and decreases the selling price by 10%, while unit variable cost remains the same. If CEO approves the plan, how does it affect the net operating income in 2020
Answer:
$150 Decrease
Explanation:
Income Statement
Present Proposed
Sales $5,000 $5,350 [(5000+30%)-10%]
Variable 10% $2,000 $2,000 (2000*130%)
Contribution Margin $3,000 $3,250
Fixed cost - $400
Net Operating Income $3,000 $2,850
Effect on Net Operating Income = $2,850 - $3,000 = -$150
You borrow $6,230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment?a. $115.26b. $88.74c. $113.78d. $120.44e. $89.29
Answer:
orrow $6230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interes… ... of interest of 6 percent.
Explanation:
1.Production runs can be scheduled in
A. only one shift
B. always two shifts
C. one or two shifts
D. up to three shifts
2.Hiring the Needed Complement will always eliminate
A. Overtime
B. worker layoffs
C. a Second Shift
D. strikes
3.Management should strive to
A. increase Turnover
B. decrease Turnover
4.Increasing Capacity tends to
A. reduce the Needed Complement
B. reduce the number of workers on Second Shift
C. reduce Overtime
5.Increasing Training Hours tends to
A. increase the Needed Complement
B. decrease the Needed Complement
C. neither increase nor decrease the Needed Complement
D. both increase and decrease the Needed Complement
6.Recruiting Costs are incurred when
A. Automation levels increase
B. Production runs increase and teams match hiring to Needed Complement
C. workers are assigned to a Second Shift
7.Assuming the Productivity Index is greater than 100%, adding Overtime will
A. increase the Productivity Index
B. decrease the Productivity Index
8.Worker training is entered by the
A. Hour
B. Dollar
9.Teams can eliminate all Recruiting Costs if they wish
A. True
B. False
10.Generally, Separation Costs will be incurred when
A. Production levels increase
B. Automation Levels increase
C. Production Levels decrease
D. Production levels decrease and / or Automation levels increase
Answer:
Explanation:
10)production levels decrease and/or automation levels increase
On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $265,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:
Year Ended December 31 Inventory year end costs Cost index(relative to base year)
2021 $340,000 1.02
2022 350,000 1.06
2023 400,000 1.07
2024 430,000 1.10
Required:
Calculate inventory amounts at the end of each year.
Answer:
Avondale Lumber
Rebasing the Inventory at year-end using the dollar-value LIFO inventory method:
Year Ended Inventory year Cost index Inventory Amount
December 31 end costs (relative to base year) at year-end
2021 $340,000 1.02 $333,333
2022 350,000 1.06 $330,189
2023 400,000 1.07 $373,832
2024 430,000 1.10 $390,909
Explanation:
a) Data:
Year Ended Inventory year Cost index
December 31 end costs (relative to base year)
2021 $340,000 1.02
2022 350,000 1.06
2023 400,000 1.07
2024 430,000 1.10
b) The inventory at year-end costs is rebased using the cost index that is relative to the base year, by dividing the inventory costs by the cost index.
Inflation, nominal interest rates, and real rates. From 1991 to 2000, the U.S. economy had an annual inflation rate of around %. The historical annual nominal risk-free rate for this same period was around %. Using the approximate nominal interest rate equation and the true nominal interest rate equation, compute the real interest rate for that decade. What is the estimated real interest rate using the approximate nominal interest rate equation for that decade?
Answer:
the question is incomplete:
nominal interest rate = 5.07%
real interest rate = ?
inflation rate = 3.45%
approximate real interest rate = 5.07% - 3.45% = 1.62%
real interest rate = [(1 + 5.07%) / (1 + 3.45%)] - 1
real interest rate = (1.0507/1.0345) - 1 = 1.57%
Item9 Time Remaining 34 minutes 55 seconds00:34:55 Item 9 Time Remaining 34 minutes 55 seconds00:34:55 Babuca Corporation has provided the following production and total cost data for two levels of monthly production volume. The company produces a single product. Production volume 13,900 units 15,000 units Direct materials $ 813,150 $ 877,500 Direct labor $ 215,450 $ 232,500 Manufacturing overhead $ 1,011,500 $ 1,024,150 The best estimate of the total variable manufacturing cost per unit is: (Round your intermediate calculations to 2 decimal places.) Multiple Choice
Answer:
$85.50
Explanation:
Particulars Amount Amount Difference
Direct materials $813,150 $877,500 $74,350
Direct labor $215,450 $232,500 $17,050
Manufacturing OH $1,011,500 $1,024,150 $12,650
T.V. Overheads 2040100 2134150 $94,050
Production Volume 13,900 15,000 1,100
Variable Cost per unit $85.50
After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership of Anna, Brian, and Cole indicated the following:
Cash 7,500
Noncash assets 105,000
Liabilities 27,500
Anna capital 45,000
Brian capital 15,000
Cole capital 25,000
112,500 112,500
The partners share net income and losses in the ratio of 3:2:1. Between May 7-30, the noncash assets were sold for 150,000, the liabilities were paid, and the remaining cash was distributed to the partners.
(A) Prepare a statement of partnership liquidation.
(B) Assume the facts as in (A) except that noncash assets were sold for 45,000 and any partner with a capital deficiency pays the amount of the deficiency to the partnership, prepare a statement of partner liquidation
Answer:
The Partnership of Anna, Brian, and Cole
A) Statement of Partnership Liquidation:
Available cash for distribution = $157,500
Payment of liabilities = 27,500
Cash available for distribution $130,000
Distribution to partners:
Anna 67,500
Brian 30,000
Cole 32,500
Total distributed $130,000
B) Statement of Partnership Liquidation:
Available cash for distribution = $52,500
Payment of liabilities = 27,500
Cash available for distribution $25,000
Capital accounts balances = 85,000
Deficiency = $60,000
Distribution of deficiency to partners:
Anna 3/6 30,000
Brian 20,000
Cole 10,000
Total distributed $60,000
Explanation:
a) Data and Calculations:
Cash 7,500
Noncash assets 105,000
Total assets 112,500
Liabilities 27,500
Anna capital 45,000
Brian capital 15,000
Cole capital 25,000
112,500
Profit sharing ratio = 3:2:1
Sales proceeds from noncash assets = $150,000
Total cash available = $157,500 ($150,000 + 7,500)
Total capital repaid $85,000
Balance to be redistributed: $45,000
Partners Excess Capital Total
Anna 3/6 22,500 45,000 $67,500
Brian 2/6 15,000 15,000 30,000
Cole 1/6 7,500 25,000 32,500
On January 1, 2021, Oliver Foods issued stock options for 47,000 shares to a division manager. The options have an estimated fair value of $7 each. To provide additional incentive for managerial achievement, the options are not exercisable unless Oliver Foods' stock price increases by 6% in four years. Oliver Foods initially estimates that it is not probable the goal will be achieved. How much compensation will be recorded in each of the next four years
Answer:
$82,250
Explanation:
the compensation per year = 47,000 x 1/4 x$7 per stock = $82,250
The compensation must be allocated proportionally to every year included in the plan, regardless of the conditions specified by the plan. The stock price already implicitly includes the most probable market conditions for the company, so that is the price that has to be used to record the compensation plan.
Quickbooks Online. IRS guidelines require specific information to substantiate deductible automobile expenses. Which 3 items are included in the substantiation requirements?
Answer:
✓Vehicle type
✓date placed in service
✓total mileage (including business, commuting and personal)
Explanation:
IRS guidelines available for automobile
deductible is that if one is using his cat for business purposes, the entire cost of ownership as well as operation can be deducted. But if the car is for business and personal purposes, the cost for the business use can be deducted.
The three items that are are included in the substantiation requirements are;
✓Vehicle type
✓date placed in service
✓total mileage (including business, commuting and personal)
On January 1, 20X1, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, with no salvage value, and will be depreciated by the straight-line method. On January 1, 20x1, it leased the machine to Child Company for a three-year period at an annual rental of $128,000 to be paid at the end of each year. Beard could have sold the machine for $817,298 instead of leasing it. Child does not know the implicit rate in the lease, but it has an incremental rate of 9%. Child Company has a December 31 reporting year. Use tables (PV of 1, PVAD of 1, and PVOA of 1 (Use the appropriate factor(s) from the tables provided. Round your intermediate calculations and final answers to the nearest whole dollar amount.)
Required:
1. Why is this an operating lease for Child Company?
2. What are the amounts of the right-of-use asset and lease liab that Child Company should report on its balance sheet at December 31, 20X1?
3. How much lease expense should Child Company recognize in 20X1?
Answer:
1. Why is this an operating lease for Child Company?
The life of the asset is 10 years while the lease is only 3 years long, so it cannot be classified as a financial lease.
2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 20X1?
annual lease payment = $128,000 (ordinary annuity)
PVIFA, 9%, 3 periods = 2.5313
present value = $128,000 x 2.5313 = $324,006.40
3. How much lease expense should Child Company recognize in 20X1?
lease expense = PV of lease x interest rate = $324,006.40 x 9% = $29,160.58
Consider the following transactions for Huskies Insurance Company:
a. Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,000 per year.
b. On June 30, the company lends its chief financial officer $50,000; principal and interest at 7% are due in one year.
c. On October 1, the company receives $16,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited.
For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year.
Answer:
31-Dec
Dr Depreciation expense $7,000
Cr Accumulated Depreciation - Equipment $7,000
31-Dec
Dr Interest receivable $1,750
Cr Interest revenue $1,750
31-Dec
Dr Deferred Revenue $4,000
Cr Revenue or Service Revenue $4,000
Explanation:
Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.
31-Dec
Dr Depreciation expense $7,000
Cr Accumulated Depreciation - Equipment $7,000
(Being to adjust 12 month depreciation)
31-Dec
Dr Interest receivable ($50,000 x 7% x 6/12) $1,750
Cr Interest revenue $1,750
(Being to adjust 6 month interest revenue accrued)
31-Dec
Dr Deferred Revenue ($16,000 x 3/12) $4,000
Cr Revenue or Service Revenue $4,000
(Being to record earned revenue for 3 months)
Nick and Beth run a catering business in which they have two major tasks: getting new clients and preparing food for events and parties. It takes Nick 8 hours to prepare food for an event and 4 hours of effort to get each new client. For Beth, it takes 12 hours to prepare food for an event and 3 hours to get a new client.
1. Who has an absolute advantage in food preparation?
2. Who has a comparative advantage in food preparation?
Suppose that initially, Nick and Beth are both splitting both tasks for a large number of events. Then they decide to start shifting some work according to the principle of comparative advantage. In particular, the person with the comparative advantage in food preparation will take over preparing food for one more event, and the other person will use the freed-up time to get more clients. As a result, the total number of events for which food is prepared will remain unchanged, but the number of new clients will increase by __?__.
The second part threw me off and I got confused. I put up the entire problem just to see if i answered it correctly or not to see whether that was what threw me off or not. Thanks in advance! :)
Answer:
NICK
NICK
2
Explanation:
A company has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries
Nick prepares food in 8 hours while Beth produces the food in 12 hours. ick thus has an absolute advantage in food preparation because he produces food in less time
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
Opportunity cost of Nick in food preparation = 4/8 = 0.5 hours
Opportunity cost of Beth in food preparation = 3 / 12 = 0.25 hours
Nick has a comparative advantage in food preparation
A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?
$220,000
Explanation:
Calculation for the company's break-even point in dollar sales
Using this formula
Break-Even point in dollars sales= Fixed Costs ÷ Contribution Margin
Let plug in the formula
Break-Even point in dollars sales=$96,800/44%
Break-Even point in dollars sales=$220,000
Therefore the company's break-even point in dollar sales will be $220,000.
Which examples demonstrate common Law Enforcement Services workplaces and employers? Check all that apply.
Otto is a self-employed worker who provides legal advice to people accused of crimes.
Peng monitors people who are swimming at a beach.
Candie oversees legal proceedings in a courtroom to make sure laws are followed properly.
Zoraida works for the municipal government investigating crime scene evidence in a laboratory.
Colleen inspects travelers and baggage in an airport.
Asa sits in an office filling out paperwork to document crimes.
Answer:
Zoraida works for the municipal government investigating crime scene evidence in a laboratory.
Colleen inspects travelers and baggage in an airport.
Asa sits in an office filling out paperwork to document crimes.
Explanation:
Criminal justice and law enforcement provide challenging but rewarding career paths. The examples of common law enforcement Services workplaces and employers are options 3,4, and 6.
What are some examples of common law enforcement services?Local legal institutions include police departments and sheriffs. State agencies include state or highway patrol. Government agencies include the FBI and the U.S. Secret Service.
Local, regional, and individual levels of government provide different types of public office.
Hence, the examples of common Law Enforcement Services are
Option 3. Candie oversees legal proceedings in a courtroom to make sure laws are followed properly.Option 4. Zoraida works for the municipal government investigating crime scene evidence in a laboratory.Option 6. Asa sits in an office filling out paperwork to document crimes.To learn more about common law enforcement services. refer to the link:
https://brainly.com/question/25967537
An alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at i = 8% per year is closest to:___.
a) $190.820.
b) $122.280.
c) $127.460.
d) $132.040.
Answer:
A
Explanation:
Present value of a perpetuality = amount / interest rate
= $40,000 / 0.08 = $500,000
Let D denote denote denotions
[tex]D + \frac{D}{1 + 0.8} + \frac{D}{1.08^{2} } = $500,000[/tex]
D = $190.820.
Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits$75per hourAnnual labor hours 6,350hoursAnnual materials purchase$1,206,250 Materials purchasing, handling, and storage$241,250 Overhead for depreciation, taxes, insurance, etc.$670,000 Target profit margin for both labor and materials 25% What should Shale set as the materials markup per dollar of materials used
Answer:
45%
Explanation:
Annual material purchase $1,206,250
Material purchasing, handling and storage cart $241,250
Material purchasing, handling and storage % on 20%
material purchase ($241,250/$1,206,250*10)
Target profit margin 25%
Material markup per dollar of material used 45%
Item1 1 points eBookAskReferencesItem 1 TB MC Qu. 06-91 The following information... The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 8,419 Accounts receivable 70,422 Merchandise inventories 60,362 Prepaid expenses 4,100 Accounts payable $ 14,950 Notes payable 86,638 Other current liabilities 9,500 If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Answer: 42 days
Explanation:
To solve the above question, first, we will have to calculate the debtors turnover ratio which is the date sales uncollected for the year. This will be:
= Sales/Average Accounts Receivables
= $612,000 / $70,422
= 8.69 times
Since we are using 365 days for a year, then the firm's days sales uncollected for the year will be calculated as:
= 365 / 8.69
= 42 days
A household consists of a married couple and their two-year-old daughter. The couple's daughter had no income and lived with her parents all of last year. How many exemptions can the couple claim on last year's tax return if they file with the "Married filing jointly" status?
Answer:
3 is the answer