Answer:
$4,960
Explanation:
The computation of the appropriate balance for Allowance for Doubtful Accounts but before that first we need to find out the allowance for doubtful debts which are shown below:
= Not yet due × given percentage + past due balance × given percentage + past due balance × given percentage
= $56,000 × 1% + $30,000 × 4% + $15,000 × 6%
= $560 + $1,200 + $900
= $2,660
And, there is a credit balance of $2,300
So, the appropriate balance is
= $2,660 + $2,300
= $4,960
The appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, 2018 is $4,960.
Here, we are to calculate the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, 2018.
Allowance for doubtful debts = (Amount not yet due * Given percentage) + (Past due balance * Given percentage) + (Past due balance * Given percentage)
Allowance for doubtful debts = ($56,000 * 1%) + ($30,000 * 4%) + ($15,000 * 6%)
Allowance for doubtful debts = $560 + $1,200 + $900
Allowance for doubtful debts = $2,660
In the question, we are given a credit balance of $2,300.
Appropriate balance = Allowance for doubtful debts + Credit Balance
Appropriate balance = $2,660 + $2,300
Appropriate balance = $4,960
Therefore, the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, 2018 is $4,960.
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An employee with special skills who has agreed not to work for a competitor may be enjoined from breaching his or her contract and working for that competitor by: A. a mandatory injunction. Select one: a. a mandatory injunction. b. liquidated damage provisions. c. a prohibitory injunction. d. nominal damage provisions.
Answer:
The correct answer is option (c) a prohibitory injunction
Explanation:
Solution:
Injunctions are present when a breach of contract threatens to produce an irreparable injury.
A court can order a party to do come certain acts that is a mandatory injunction or to refrain from doing certain acts, that is a prohibitory injunction.
For instance, an employee with a good skills who has decided not to work fro a competitor may be enjoined from breaching his or her contract and working for that competitor.
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $ 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the data for Harding Company, what is the amount of quick assets
Answer:
$131,000
Explanation:
The computation of the amount of quick assets is shown below:
Quick asset = Account Receivable + Cash + marketable securities
= $65,000 + $30,000 + $36,000
= $131,000
We simply added the account receivable, cash and the marketable securities so that the quick assets could come plus it contains more liquidity that converted into cash in a very short period of time and the rest of the items are ignored as there are not relevant
Pearce Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $120,000, and its accumulated depreciation at the date of exchange was $40,000. The new equipment received had a fair value of $50,000 and a book value of $32,000. The journal entry to record this exchange will include which of the following entries?
Debit equipment $50,000
Debit loss on exchange $30,000
Credit equipment $120,000
Debit accumulated depreciation $40,000
Answer:
It should include all the options, assuming that the debit on equipment account is for the new equipment, while the credit is for the old equipment.
Debit equipment $50,000 Debit loss on exchange $30,000 Credit equipment $120,000 Debit accumulated depreciation $40,000Explanation:
original purchase price $120,000
accumulated depreciation $40,000
book value $80,000
price of "new" equipment $50,000
with a book value of $32,000
if we assume that this transaction has commercial value, then we must use the fair market value of the "new" equipment in our journal entry:
Dr Accumulated depreciation - equipment: old 40,000
Dr Equipment: new 50,000
Dr Loss on exchange 30,000
Cr Equipment: old 120,000
If the transaction lacked commercial substance, then the journal entry would be different:
Dr Accumulated depreciation - equipment: old 40,000
Dr Equipment: new 80,000
Cr Equipment: old 120,000
Country Furniture Company manufactures furniture at its​ Akron, Ohio, factory. Some of its costs from the past year​ include: Depreciation on sales office: ​ $9,700 Depreciation on factory equipment 16,700 Factory supervisor salary 50,800 Sales commissions 23,900 Lubricants used in factory equipment 3,300 Insurance costs for factory 21,100 Wages paid to maintenance workers 115,900 Fabric used to upholster furniture 10,300 Freightminusin ​(on raw​ materials) 3,300 Costs of delivery to customers 9,100 Wages paid to assemblyminusline workers 115,700 Lumber used to build product 82,900 Utilities in factory 54,600 Utilities in sales office 26,600 Conversion costs for Country Furniture Company totaled:_______ a. $378,100.b. $486,500.c. $526,500.d. $510,500.
Answer:
just asking. is this even a question or a passage for us to read. im confused someone help me out here
Explanation:
On September 1, Sky Mountain Co. borrowed $68,000 on a 6%, 9-month note payable to Coast National Bank. Given no previous adjusting entries have been recorded, Sky Mountain's adjusting entry four months later at December 31 would include a:
Answer and Explanation:
The journal entry is shown below:
Interest expense ($68,000 × 9% × 4 months ÷ 12 months) $2,040
To Interest payable $2,040
(Being the interest expense is recorded)
For recording this we debited the interest expense as it increased the expenses and credited the interest payable as it also increased the liabilities so that the proper journal entries could be recorded
Big Canyon Enterprises has bonds on the market making annual payments, with 17 years to maturity, a par value of $1,000, and a price of $969. At this price, the bonds yield 8.1 percent. What must the coupon rate be on the bonds?
Answer:
7.8%
Explanation:
For computing the coupon rate first we have to determine the PMT by using the PMT formula which is shown in the attachment below:
Given that,
Present value = $969
Future value or Face value = $1,000
RATE =8.1%
NPER = 17 years
The formula is shown below:
= PMT(RATE;NPER;-PV;FV;type)
The present value come in negative
So, after applying the above formula, the PMT is $77.58
Now the coupon rate is
= $77.58 ÷ $1,000
= 7.8%
Skolits Corp. issued 20-year bonds 2 years ago at a coupon rate of 8.9 percent. The bonds make semiannual payments. If these bonds currently sell for 110 percent of par value, what is the YTM
Answer:
The YTM is 7.85%
Explanation:
Since 20 year bonds were issued 2 years ago,
Time to Maturity = 18 years
Coupon Rate = 8.9%
Lets assume that the par value of the bond is $100
The bonds make semi-annual payments,
Therefore, number of periods = 18 × 2 = 36
Semi-annual Coupon =( 8.9% × 100 ) / 2 = $4.45
Current Value of Bond = 110% of par value = 1.1 × 100 = $110
YTM is the discount rate which makes the present value of all the future cash flows equal to the current value of the bond, that is $110 , which means
110 = [tex]4.45/(1+r)^1[/tex] + [tex]4.45/(1+r)^2[/tex] + ... + [tex]4.45/(1+r)^{35[/tex] + [tex]104.45/(1+ r)^{36[/tex]
where, r is YTM/2
r = 3.927%
Therefore, YTM = 3.927 × 2 = 7.85%
The accounts in the ledger of Monroe Entertainment Co. are listed below. All accounts have normal balances. Accounts Payable $465 Fees Earned $3,123 Accounts Receivable 858 Insurance Expense 486 Prepaid Insurance 2,148 Land 2,660 Cash 1,964 Wages Expense 780 Dividends 536 Common stock 5,844 Total assets are: a. $7,630 b. $3,123 c. $5,844 d. $3,287
Answer:
a. $7,630
Explanation:
According to the given situation the computation of total assets is shown below:-
Total assets = Accounts receivable + Prepaid insurance + Cash + Land
= $858 + $2,148 + $1,964 + $2,660
= $7,630
Therefore for computing the total assets we simply applied the above formula and ignore all other values as they are not relevant.
LeBron James (LBJ) Corporation agrees on January 1, 2020, to lease equipment from Wildhorse, Inc. for 3 years. The lease calls for annual lease payments of $21,000 at the beginning of each year. The lease does not transfer ownership, nor does it contain a bargain purchase option, and is not a specialized asset. In addition, the useful life of the equipment is 10 years, and the present value of the lease payments is less than 90% of the fair value of the equipment. This lease is properly classified as an operating lease. The credit to Lease Liability on December 31, 2020 is ________.
Answer:
interest expense 4,881.08 debit
lease liability 4,881.08 credit
Explanation:
We solve for the present value of the lease payment and with that we solve forthe interest accrued during the period which will be interest expense debit and lease liability credit.
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 21,300
time 3
rate 0.06
[tex]21300 \times \frac{1-(1+0.06)^{-3} }{0.06} = PV\\[/tex]
PV $60,351.2638
lease: +60,351.26
less: 21,000.00 payment
81,351.26 before interest
interest over the year 81,351.26 x 0.06 = 4,881.08
Missing Information: 6% implicit rate
Considering the value that salespeople add to the car buying process, which of the following are advantages that personal selling offers over other marketing communications methods?
a. Immediate feedback to the customer
b. The ability to tailor the message to the customer
c. Enhances the personal relationship between company and customer
d. Both the ability to tailor the message to the customer and immediate feedback to the customer
e. All of these choices are correct
Answer:
c or d
c. Enhances the personal relationship between company and customer
d. Both the ability to tailor the message to the customer and immediate
Explanation:
We may conclude that personal sales provides a broader understanding for the consumers and a greater opportunity for the business to connect to the consumer by tailoring the plan to the client's requirements as well as improving its relationship with the customer as well so that the company could able to develop a long term relationship with the customer by trust, satisfaction etc
Therefore according to the given situation the correct option c or d as it means the same.
Indicate the effect that the following will have on the operating cycle. Use the letter "I" to indicate an increase, the letter "D" for a decrease, and the letter "N" for no change.
(a) average receivables goes up.
(b) credit repayment times for customers are increased
(c) inventory turnover goes from 3 times to 6 times.
(d) payable turnover goes from 6 times to 11 times.
(e) receivables turnover goes from 7 times to 9 times.
(f) payments to suppliers are accelerated.
Answer: a. Increase
b. Increase
c. Decrease
d. No change
e. Decrease
f. No change
Explanation:
The Operating cycle refers to the amount of time it will take a business to source or produce inventory, sell that inventory and then receive the money for the sold inventory.
a. If the Average Receivables goes up, then that means there are more people to collect money from. This will increase the amount of time it will take to collect thereby increasing the operating cycle.
b. If the credit repayment times for the customers are increased, this means that the time they have to take to pay the company increases and this will definitely increase the Operating cycle.
c. If the inventory turnover increases, it means that inventory is being purchased more times in the period. This means that the operating cycle has decreased because the company is having to replace inventory more to begin a new cycle.
d. The Payables turnover rate does not feature in the operating cycle so no effect will be recorded.
e. If the Receivables turnover rate increases, it means that the company is getting paid by receivables faster. This will decrease the operating cycle because it means that the business is receiving its money faster.
f. Payments to suppliers is just another way of saying Account Payables and as stated already, it has nothing to do with the Operating Cycle so No effect will be recorded.
An Operating cycle refers to period it might take a business to produce, sell and receive money for the sold inventory.
a. For when average receivables goes up : I
b. For when credit repayment times for customers are increased : I
c. For when inventory turnover goes from 3 times to 6 times : D
d. For when payable turnover goes from 6 times to 11 times : N
e. For when receivables turnover goes from 7 times to 9 times : D
g. For when payments to suppliers are accelerated : N
Read more about Operating cycle
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ABC Corporation is considering the purchase of a machine that would cost $170,000 and would last for 5 years. At the end of 5 years, the machine would have a salvage value of $19,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $41,000. The company requires a minimum pretax return of 11% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to: (Round your intermediate calculations and final answer to the neare
Answer:
-$7,193
Explanation:
The computation of the net present value is shown below:
Year Cash Inflows PV factor at 11% Present value
0 $170,000 1 $170,000 (A)
1 $41,000 0.9009009 $36,936.94
2 $41,000 0.8116224 $33,276.52
3 $41,000 0.7311914 $29,978.85
4 $41,000 0.6587310 $27,007.97
5 $41,000 0.5934513 $24,331.50
5 $19,000 0.5934513 $11,275.58
Total $162,807.35 (B)
Net Present Value (NPV) -$7,193 (B - A)
It is a difference between the cash inflow and the cash outflows
The payroll register for Gamble Company for the week ended April 29 indicated the following: Salaries $1,250,000 Social security tax withheld 75,000 Medicare tax withheld 18,750 Federal income tax withheld 250,000 In addition, state and federal unemployment taxes were calculated at the rate of 5.4% and 0.6%, respectively, on $225,000 of salaries.Required: a. Journalize the entry to record the payroll for the week of April 29. b. Journalize the entry to record the payroll tax expense incurred for the week of April 29.
Answer with its Explanation:
Part A. The with held taxes will adjusted against the salaries which means with held taxes will be credited and the salaries accrued will be debited and the difference of the accrued salary and with held taxes will go to the salaries payables (Credit).
The double entry is given as under:
Dr Salaries Expenses $1,250,000
Cr Social Security Payables $75,000
Cr Medicare Tax Payables $18,750
Cr Federal Income Tax Payables $250,000
Cr Salaries Payables $906,250
Part B. The state and federal unemployment taxes will also result in the increase in the salaries expense just like the with held taxes.
The double entry would be as under:
Dr Salaries Expense $13,500
Cr State Unemployment Taxes $12,150 (225,000 * 5.4%)
Cr Federal Unemployment Taxes $1,350 (225,000 * 0.6%)
Suppose that you are the manager and sole owner of a highly leveraged company. All the debt will mature in one year. If at that time the value of the company is greater than the face value of the debt, you will pay off the debt. If the value of the company is less than the face value of the debt, you will declare bankruptcy and the debt holders will own the company.
a) Express your position as an option on the value of the company.
b) Express the position of the debt holders in terms of options on the value of the company.
c) What can you do to increase the value of your position?
Answer:
From my position as an option on the value of the company, the stance or view of the owner is a call option on value of company strike face of debt
Secondly, debt holders have systematically sold a put option value of company strike at face of debt.
Now, to be able to increase or raise the value call option it includes he following, In making sure to raise the value of the company, To boost the unpredictability of the company.
Explanation:
Solution
(a) The position of the owner is a call option on value of company strike at face of debt
(b)The debt holders have efficiently sold a put option on value of company strike at face of debt.
(c) To be able to increase the value option call the following are listed below:
Endeavor or make sure to raise the value of the companyBoost the volatility of the company.Outpuit AFC AVC ATC MC 1 $300 $100 $400 $100 2 150 75 225 50 3 100 70 170 60 4 75 73 148 80 5 60 80 140 110 6 50 90 140 140 7 43 103 146 180 8 38 119 156 230 9 33 138 171 290 10 30 160 190 360 These are cost data for a firm that is selling under pure competition. If output price is $290, the per-unit economic profit at the profit-maximizing output is:__________
Answer:
The answer is $119
Explanation:
Solution:
The firm is working in a competitive market that is seen as perfect.
Thus,
The profit the condition for maximizing profit is given below:
P = MR =MC
Now,
The market price of the product is =$290
So,
P = $290
From the given table, we noticed that the profit maximizing output level is 9 units when P = MC
The profit (π) = total revenue - cost total
= ( P * Q) - ( ATC * Q)
= 290 * 9 - 171 * 9
= 2610 - 1539
= 1071
Therefore, the per-unit economic profit at the profit-maximizing output is
=$1071/9
=$119
A company had net sales of $21,500 and ending accounts receivable of $2,700 for the current period. Its days' sales uncollected equals: (Use 365 days a year.) Multiple Choice 8.0 days. 58.9 days. 45.8 days. 7.4 days. 45.2 days.
Answer:
45.8 days
Explanation:
The computation of the days sales uncollected is shown below:
But before that first we need to find out the inventory turnover ratio which is
Inventory turnover ratio = Sales ÷ Accounts receivable
= $21,500 ÷ $2,700
= 7.96 times
Now Days sales uncollected is
= 365 ÷ Inventory turnover ratio
= 365 ÷ 7.96
= 45.8 days
We simply applied the above formulas
During the year, RIT Corp. had sales of $565,600. Costs of goods sold, and depreciation expenses were $476,000, and $42,800, respectively. In addition, the company had an interest expense of $112,000 and a tax rate of 22 percent. What is the operating cash flow for the year
Answer:
Cash flows from Operating activities is $30800
Explanation:
The first thing that we will calculate is the Net Profit for the year thereafter we will calculate the operating cash flow for the year.
Step 1: Calculate is the Net Profit for the Year
Sales $5,65,600
Less: Cost of Goods Sold ($4,76,000)
Gross margin $89,600
Less: Admin and Selling expenses ($58800)
Less: Depreciation ($42,800)
Less: Interest expense ($112,000)
Net income before tax (124000)
Less: tax -
Net income after tax ($1,24,000)
Step 2: Now we will calculate the Cash flow from Operating activities
Net income after tax ($1,24,000)
Add: Depreciation $42,800
Add: Interest $1,12,000
Cash flow from Operating activities $30800
Daniel acquires a 30 percent interest in the PPZ Partnership from Paolo, an existing partner, for $48,000 of cash. The PPZ Partnership has borrowed $19,000 of recourse liabilities as of the date Daniel bought the interest. What is Daniel's basis in his partnership interest
From 2010 to 2011, nation A's real GDP increased from $100 billion to $106 billion and its population grew from 50 million to 51 million. As a result, real GDP per capita _____ because real GDP rose _____ than the population.
Answer:
As a result, real GDP per capita WILL INCREASE because real GDP rose MORE than the population.
Explanation:
increase in real GDP = $106 - $101 = $5 billion, or 4.95%
population increase = 51 - 50 = 1 million people, or 2%
real GDP per capita 2010 = $101,000 / 50 = $2,020
real GDP per capita 2011 = $106,000 / 51 = $2,078
since the real GDP increased by almost 5%, while the population increased only by 2%, the real GDP per capita will increase by 2.9%
The Fed has decided to expand the money supply, leading to lower interest rates. As the CEO of an energy company, you react to these lower interest rates by deciding to expand your operations and construct a new pipeline across the state of Virginia. What impacts would this decision have on the macroeconomy
Answer:
The answer are:
1. Raising Gross Domestic Product(GDP)
2. Reducing unemployment
C. increasing the investment part of GDP
Explanation:
The impacts would be the following:
1. Raising Gross Domestic Product(GDP): Gross Domestic Product(GDP) is the market value of all final goods and services produced within a country during a specific period (usually a year). By deciding to expand your operations and construct a new pipeline across the state of Virginia, the CEO is adding to the country's GDP
2. Reducing unemployment: Expanding operations and construct a new pipeline across the state of Virginia, the CEO will create new employments because more hands will be needed for the expansion.
C. increasing the investment part of GDP. The components of GDP are Consumers' consumption, firms' investment, government expenditure, exports and imports. The expansion and the new investment (construction new pipeline) will increase the firms' investment component or variable.
Important provisions of the Sarbanes-Oxley Act Multiple Choice encourage the destruction of financial documents. approve corporate loans to directors of the company. encourage outside CPA firms to deliver several services to their clients, including auditing services and consulting services. require the CEO and CFO of corporations to certify the accuracy of financial reports.
Answer: require the CEO and CFO of corporations to certify the accuracy of financial reports.
Explanation:
The Sarbanes-Oxley Act of 2002 was passed by the US Congress in the wake of the devastating crisis that engulfed the financial world as a result of the dodgy accounting practices of Enron, WorldCom and Tyco amongst others to protect the Public from acts by companies that would seek to deceive and mislead the public in terms of Accounting and Corporate disclosures.
One of the provisions was that Top Executives such as the CEO and the CFOs of companies personally certify the accuracy of the Financial reports. By doing this they can take personal responsibility and if they make a false certification willingly, they could be prosecuted and jailed.
Oxygen combines with nitrogen in the air to form NOx at about
Answer:
2500° F
Explanation:
Oxygen combines with nitrogen in the air to form NOx at about 2500 degrees Fahrenheit.
Using both the supply and demand for bonds and liquidity preference framework, show how interest rate are affected when the riskiness of bonds rises. Are the results the same in the two frame works
Answer:
Yes, the results are the same in both frameworks. Please see below for explanation.
Explanation:
With regards to the bond supply and demand framework, people will look to buy more bonds since they are more wealthy now. Hence, the supply of bonds will increase. The supply curve and the demand curve will both move to the right, with the former shifting more than the latter. The equilibrium interest rate will increase.
With regards to the liquidity preference framework, once the economy experiences a positive shift, there will also be an increase in the demand for money. People will make an increased number of transactions as well and hence, the demand curve will move towards the right. The equilibrium interest rate will rise too.
QS 9-13 Note receivable interest and maturity LO P4 On December 1, Daw Co. accepts a $12,000, 45-day, 7% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31. (2) Prepare the entry required on the note's maturity date assuming it is honored. (Use 360 days a year.)
Answer and Explanation:
The journal entries are shown below;
a. Interest receivable Dr ($12,000 × 7% × 30 days ÷ 360 days) $70
To Interest revenue $70
(Being the interest revenue is recorded)
For recording this we debited the interest receivable as it increased the asset and credited the interest revenue as it also increased the revenue
b. Cash Dr $12,105
To interest receivable $70
To interest revenue ($12,000 × 7% × 15 days ÷ 360 days) $35
To Note receivable $12,000
(being cash received is recorded)
For recording this we debited the cash as it increased the assets and credited the interest receivable, interest revenue and note receivable as it decreased the asset and increased the revenue
Red Mountain, Inc. has the following information from its payroll records: Salaries and wages earned by employees $ 180,000 Less: income taxes withheld from employees 27,000 Less: FICA taxes withheld from employees 9,000 Net pay to employees $ 144,000 The employer amount of FICA taxes that Red Mountain is required to pay is equal to the amount that it withholds from its employees. Assume no other payroll taxes are incurred at this time. What is Red Mountain's total expense with regards to this payroll
Answer:
Red Mountain's total expense with regards to this payroll is $189,000
Explanation:
In order to calculate Red Mountain's total expense with regards to this payroll we would have to make the following calculation:
Red Mountain's total expense=Salaries and wages earned by employees+FICA taxes
According to given data:
Salaries and wages earned by employees=$ 180,000
FICA taxes=$9,000
Therefore, Red Mountain's total expense=$ 180,000+$9,000
Red Mountain's total expense=$189,000
Red Mountain's total expense with regards to this payroll is $189,000
On June 1, 2015, Headland Company and Sage Company merged to form Pronghorn Inc. A total of 761,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis.
On April 1, 2020, the company issued an additional 400,000 shares of stock for cash. All 1,200,000 shares were outstanding on December 31, 2020. Lancaster Inc. also issued $600,000 of 20-year, 8% convertible bonds at par on July 1, 2020. Each $1,000 bond converts to 40 shares of common at any interest date. None of the bonds have been converted to date. Lancaster Inc. is preparing its annual report for the fiscal year ending December 31, 2020. The annual report will show earnings per share figures based upon a reported after-tax net income of (The tax rate is 20%.)
Determine the following for 2020:
a. The number of shares to be used for calculating:________
b. The earnings figures to be used for calculating:_________
Answer:
a. 1. Basic Earning Per Share = 1,100,000
2. Diluted Earning Per Share = 1,112,000
b. 1. Basic Earning Per Share = $1,540,000
2. Diluted Earning Per Share = $1,559,200
Explanation:
1. The computation of the number of shares to be used for calculating is shown below:-
For Basic Earning Per Share
Date Shares Weight Weighted Shares
Jan 1 2020
to April 1, 2020 761,000 3 ÷ 12 190,250
Apr 1, 2020 to
Dec 31, 2020 1,200,000 9 ÷ 12 900,000
Total 1,090,250
For Diluted Earning Per Share
Dates Shares Weight Weighted Shares
Jan 1, 2020 to
April 1, 2020 761,000 3 ÷ 12 190,250
Apr 1, 2020 to
July 1, 2020 1,200,000 3 ÷ 12 300,000
July 1, 2020 to
Dec 31, 2020 1,224,000 6 ÷ 12 612,000
Total 1,112,000
Convertible bond into shares
= $600000 ÷ $1,000 × 40 shares
= 24,000
b. The computation of earnings figures to be used for calculating is shown below:-
Basic Earning Per Share = Net Income = $1,540,000
Diluted Earning Per Share
= Net Income + Interest Saving - Additional Tax
where,
Interest Saving = $600,000 × 8% × 1 ÷ 2 years
= $24,000
Additional Tax = $24,000 × 20%
= $4,800
Adjusted Net Income = $1,540,000 + $24,000 - $4,800
= $1,559,200
Identify whether the following activities Ere examples Of business-level or corporate level strategy.
a. A company's managers ask, "Should we increase the size of our Bluetooth wireless speaker and sell it at a higher cost?"
b. Never previously known as a computer hardware company, Microsoft decides to enter the tablet manufacturing business, producing the Microsoft Surface.
c. Managers for IBM's SPSS statistics software meet to determine how they Will market the product in the upcoming year. Their decision is to show potential clients how effective SPSS is at analyzing extremely large data sets, and how
the "Direct Marketing" part Of the program helps identify which customers will respond to advertisements.
d. The manufacturer of Chobani Yogurt decided to open a flagship store in Soho, where customers can order special yogurt creations, such as fig and walnut or cucumber and olive oil. Though it was in the business of manufacturing
yogurt for 7 years, the company never tried to run a restaurant before.
Answer: A. Business Level.
B. Corporate Level.
C. Business Level.
D. Corporate Level.
Explanation:
Business level strategies are used by a company to engage in transactions that will enable it to sell it's products and bring in profit to the company. It therefore focuses on the customers the business has.
Corporate Level strategies on the other hand are at organizing level of the Organization. In other words they deal with decisions meant to progress the company to make it bigger or more profitable. For example by selling or buying companies/ business units.
A. This is a business level activity as it focuses on the sales of their Bluetooth products.
B. This is a Corporate Level Strategy as it deals with Microsoft as an Organization entering a new market i.e diversifying for growth.
C. This is a Business level strategy as it deals with the product that the company wants to improve sales of which is SPSS.
D. This is a Corporate Level Strategy because as the text shows, the company has never tried to run a restaurant before. They are therefore diversifying and entering into a new market.
In this paper, please discuss the three costing methods of job order costing, process costing, and activity-based costing. Define each method and explain when it is best suited to be used. Compare and contrast the methods and consider their benefits and shortfalls. Use the information provided to propose which cost method should be used to allocate costs. Wet Suit World is a company that manufactures wet suits for use with water sports such as snorkeling and scuba diving. The suits are made in sizes small through 3x extra large with levels of insulation layers of 2 millimeters, 5 millimeters, and 7 millimeters. They come in black with the Wet Suit World logo imprinted across the chest. The materials are the same for all of the suits, though they vary in thickness. All suits undergo the same production and quality inspection processes. There is no one "correct" answer to the proposed cost allocation method as long as the answer is well-supported based on the week’s learning. Superior papers will include the following when responding to the assignment question: Define the three costing methods. Explain when each is most appropriately used. Compare and contrast the methods, considering both benefits and shortfalls. Provide a well-supported proposal for the cost method Wet Suit World should use.
Answer:
Check below for the Answer and Explanation
Explanation:
A. All the three costing which are Job order costing, process costing and activity based costing are the different types of concepts of costing as well as the different methods of costing.
B. JOB ORDER COSTING is a method of either assigning or allocating a cost to a specific unit product .
PROCESS COSTING is a method for assigning allocation of cost for mass quantity of product .
In ACTIVITY BASED COSTING cost is calculated on the basis of the activity, number of the activities and on the basis of classification of the activities.
C.Each of the three costing method which are job order costing, process costing and activity costing are costing that has their own benefits and shortfall in which No one can replace another or fulfill the deficiency of another because each of them costing method has their own different benefits and shortfalls.
The benefit is that for calculating the cost for a particular task or job the job order costing is been applied and for calculating cost on particular process the process costing is been applied while on calculating the cost of particular activity the activity based costing is been applied .
The shortfall of all these three are that no one can replace another one.
D. A well-supported proposal for the cost method Wet Suit World should use will be JOB ORDER COSTING.
Answer :
The three costing methods of jobs are :
Job order costingProcess costingActivity based costing1. Job Order Costing :
It is a method of allocating or allocating costs to a specific unit product.2. Process Costing:
It is a method of assigning costs to the bulk quantity of a product.3. Activity based costing :
It calculates costs based on activity, the number of activities, and a classification of activities.Compare and contrast the methods and consider their benefits and shortfall are :
The benefit is that for calculating the cost for a particular task or job the job order costing is been applied and for calculating cost on particular process the process costing is been applied while on calculating the cost of particular activity the activity based costing is been applied . The shortfall of all these three are that no one can replace another one.
A well-supported proposal for the cost method is the Job Order Costing.
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The internal financial statements of Vera Incorporated show that their beaded purses incurred an operating loss in the most recent year. There were 27 comma 000 purses sold in that year. Selected financial information about the purse line follows. Total sales revenue $ 191 comma 000 Variable costs $ 92 comma 000 Contribution margin $ 99 comma 000 Fixed costs $ 101 comma 000 Net operating loss $( 2 comma 000 ) If the line of purses were to be discontinued, the company would avoid $ 21 comma 000 in fixed costs per year. If Vera Incorporated were to discontinue the line of purses, the change in annual operating income would be
Answer:
Vera Incorporated
Change in annual operating income from discontinued business:
Annual Operating Income would reduce by $78,000.
Explanation:
a) Calculation of the Net Income Lost:
Loss of Contribution ($99,000)
Avoidable fixed cost $21,000
Reduction of Income ($78,000)
b) The line of purses contributes $80,000 towards the company's fixed cost. Therefore, discontinuing this line of business would lead to the loss of this steam of income. The amount of reduced operating income will be $78,000 ($80,000 - 2,000).
Which of these is an acceptable professional behavior in the United States?
O A. Wearing clean clothes
O B. Having your cell phone out
O C. Having ungroomed hair
O D. Not bathing properly
Answer:
A. wearing clean clothes
Explanation:
An acceptable professional behavior in the United States is Wearing clean clothes Option(A) is correct. Deal with your feelings and language, particularly during upsetting times. Figure out how to perceive and control dissatisfaction.
What is an Professional Behavior?Professional behavior is a type of manners in the working environment which is connected principally to deferential and gracious direct.
In all honesty, professional behavior can help your vocation and work on your possibilities of future achievement. Numerous associations have explicit sets of rules set up, yet some don't. By and large, it comes down to morals, honesty, devotion, and being aware of how you treat collaborators.
Be conscious of individual representatives, partners and clients, no matter what their position or status everybody is significant. This incorporates utilizing great habits, being aware of individual space and forgoing referring to non-business related or other unseemly subjects. Utilize proper language, apologize for blunders or errors, and keep your closely-held convictions of others hidden.
Therefore Option(A) is correct.
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