Answer:
The correct answer is the option A: Serious dislocation in international trade.
Explanation:
To begin with, the Great Depression is the famous name that receives the financial crisis that started in the United States with the breakdown of the New York's stock exchange market and that quickly spread throught out the whole world ended up shooking the entire global economy for about a complete decade.
The major causes of it where a couple of various things and situation that finally tended to the explosion of the stock market. The context was that the United States after winning the First War became the most powerful nation in the world and with that also the country with more gold reserves so it obligate the european nations to pay the debts of the war as well as difficult them to trade in the international market by elevating the taxes to their imports and pushing its own exports to every other country. So thats basically how the whole international trade suffered from a dislocation.
The most important cause of the Great Depression was A. serious dislocation in international trade.
What was the Great Depression?The Great Depression was the global economic meltdown that was experienced by many nations following the end of the first world war.
After the defeat of Germany, many reparation sanctions were imposed on it for civilian damages caused by aggressive Germany.
Many nations who participated in the war also experienced economic stagnation and uncertainty with war debts suffocating economic activities.
Thus, the most important cause of the Great Depression was Option A.
Learn more about the Great Depression at https://brainly.com/question/441267
alton Corporation is currently selling 104 units of its product. The company is deciding the price that it should charge for a bulk order of 40 units. The variable cost per unit is $200. This order will not involve any additional fixed costs and the company's current sales will not be affected. The company targets a profit of $4,000 on the bulk order. What selling price per unit should the company quote for the bulk order
Answer:
the selling price per unit is $300
Explanation:
The computation of the selling price per unit is shown below;
= Variable cost + profit needed per unit
= $200 + ($4,000 ÷ $40 units)
= $200 + $100
= $300
hence, the selling price per unit is $300
On July 1, Arcola Company purchases equipment for $330,000. The equipment has an estimated useful life of 10 years and expected salvage value of $40,000. The company uses straight-line depreciation. Four years later, economic factors cause the fair value of the equipment to decline to $160,000. On this date, Arcola examines the equipment for impairment and estimates $185,000 in undiscounted expected cash inflows from this equipment.
Required:
a. Compute the annual depreciation expense relating to this equipment.
b. Compute the equipment's net book value at the end of the fourth year.
c. Apply the test of impairment to this equipment as of the end of the fourth year. Is the equipment impaired?
Answer:
a. $29,000
b. $214,000
c. Yes
Explanation:
a. Annual Depreciation expense:
= (Cost - salvage value)/ Useful life
= (330,000 - 40,000) / 10,000
= $29,000
b. Net book value at end of 4th year:
= Cost - 4 year depreciation
= 330,000 - (4 * 29,000)
= $214,000
c. One test to see if equipment is not impaired is that the Expected Undiscounted cashflows need to be higher than the net book value. This is not the case here as the Net Book value of $214,000 is higher than the expected Undiscounted cash inflows of $185,000. Equipment is therefore impaired.
Leaper Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total Activity Fabrication 35,000 machine-hours Order processing 250 orders Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: Wages and salaries $ 380,000 Depreciation 150,000 Occupancy 170,000 Total $ 700,000 The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools Fabrication Order Processing Other Total Wages and salaries 35% 30% 35% 100% Depreciation 15% 45% 40% 100% Occupancy 35% 30% 35% 100% The activity rate for the Order Processing activity cost pool is closest to:
Answer:
Order processing= $930 per order
Explanation:
First, we need to calculate the estimated costs for order processing:
Order processing cost= (380,000*0.3) + (150,000*0.45) + (170,000*0.3)
Order processing cost=$232,500
Now, we can calculate the activity rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Order processing= 232,500 / 250
Order processing= $930 per order
According to the Law of Demand, what will happen when the price of a good increases?
Answer:
According to the law of demand, as the price increase the quantity demand decreases, and conversely, as the prices decreases,the quantity demanded increases
labor force
200 million
Adults in the military
1 million
Population below 16
50 million
Employed adults
180 million
Institutionalized adults
3 million
Not in labor force
40 million
1. What is the total population? 1 pt. (Show your work)
2. How many people are unemployed, and what is the unemployment rate? 2 pts.
3. What is the labor force participation rate? 1 pt.
Answer:
not entirely sure if that's how you are suppose to do it. but that's how I would've done it.
Congratulations! You were the 10th caller on the KMTH morning show and you just won $3,000.00. After you calm down, you decide to put the money into a bank account so that you will have even more money for a trip to Europe. Snurling Bank tells you that they will pay 9% per year compounded monthly. How much money will you have for your trip in 5 years
Answer:
$4,697.04
Explanation:
In simple words , this question requires us to find the Future Value in 5 years time. We compound the Present Value using the effective interest rate to determine the Future Value of an investment.
PV = $3,000.00
P/YR = 12
N = 5 x 12 = 60
I = 9 %
PMT = $0
FV = ?
Using a Financial calculator to enter the parameters as above the Future Value (FV) is $4,697.04
therefore,
In 5 years time, you will have $4,697.04.
Sabin is an artist and maintains an office (his studio) in his home. His office occupies 8% of the total floor space of his residence. Gross income from his business is $24,000. Expenses of the business (other than home office expenses) are $5,000. Sabin incurs the following home office expenses:
Real property taxes on residence: $2,400 Interest expense on residence: $4,000 Operating expenses of residence: $2,200 Depreciation on residence (based on 8% business use): $450.
A) Assuming Sabin uses the "regular method" to compute the office in the home deduction, his deduction is ?
B) Assuming Sabin uses the "simplifed method" to computer the office in the home deduction, his deduction is?
Answer:
Sabin
Home Office Deduction:
A) Assuming Sabin uses the "regular method" to compute the office in the home deduction, his deduction is:
= $962.
B) Assuming Sabin uses the "simplified method" to computer the office in the home deduction, his deduction is:
= $1,500.
Explanation:
a) Data and Calculations:
Gross business income $24,000
Home office space = 8%
Exclusive business expenses = $5,000
Qualified home office expenses:
Real property taxes $2,400
Mortgage interest 4,000
Depreciation 5,625 ($450/8%)
Total home office expenses $12,025
Deductions (8%) 962
b) Depending on whether Sabin chooses the simplified version or the regular method, his business expenses of $5,000 are deductible in addition to the above, from his business gross income of $24,000.
Ginocera Inc. is a designer, manufacturer, and distributor of lowcost, highquality stain less steel kitchen knives. A new kitchen knife series called the Kitchen Ninja was released for production in early 2016. In January, the company spent $600,000 to develop a late night advertising infomercial for the new product. During 2016, the company spent $1,400,000 promoting the product through these infomercials, and $800,000 in legal costs. The knives were ready for manufacture on January 1, 2016.
Ginocera uses a job order cost system to accumulate costs associated with the kitchen knife. The unit direct materials cost for the knife is:
Hardened steel blanks (used for knife shaft and blade) $4.00
Wood (for handle) 1.50
Packaging 0.50
The production process is straightforward. First, the hardened steel blanks, which are purchased directly from a raw material supplier, are stamped into a single piece of metal that includes both the blade and the shaft. The stamping machine requires one hour per 250 knives.
After the knife shafts are stamped, they are brought to an assembly area where an employee attaches the handle to the shaft and packs the knife into a decorative box. The direct labor cost is $0.50 per unit.
The knives are sold to stores. Each store is given promotional materials, such as post ers and aisle displays. Promotional materials cost $60 per store. In addition, shipping costs average $0.20 per knife.
Total completed production was 1,200,000 units during the year. Other information is as follows:
Number of customers (stores) 60,000
Number of knives sold 1,120,000
Wholesale price (to store) per knife $16
Factory overhead cost is applied to jobs at the rate of $800 per stamping machine hour after the knife blanks are stamped. There were an additional 25,000 stamped knives, handles, and cases waiting to be assembled on December 31, 2016.
Instructions
1. Prepare an annual income statement for the Kitchen Ninja knife series, including sup porting calculations, from the information provided.
2. Determine the balances in the work in process and finished goods inventories for the Kitchen Ninja knife series on December 31, 2016.
Answer:
1. $432,000
2. Finished goods inventory $776,000
Work in process $230,000
Explanation:
1. Preparation of an annual income statement for the Kitchen Ninja knife series
First step is to determine The Total Manufacturing cost per unit
DIRECT MATERIAL
Hardened steel blank $ 4.00
Wood for handle $ 1.50
Packaging $ 0.50
Total direct material $ 6.00
(4.00+1.50+0.50)
Direct labor $ 0.50
Factory overhead (800/250)$3.20
Total manufacturing cost per knife $ 9.70
(6.00+0.50+3.20)
Now let prepare the Income statement
INCOME STATEMENT
Sales $17,920,000
(1120,000 * 16)
Cost of good sold $10,864,000
(1120,000 * 9.7)
Gross profit $7,056,000
($17,920,000-$10,864,000)
Selling expense:
Infomercial campaign $2,000,000
($600,000 +$1400,000 )
Promotional material $3,600,000
(60,000 * $60)
Shipping cost $224,000
(1120,000 * 0.2)
Total selling expense $5,824,000
($2,000,000+$3,600,000+$224,000)
Administrative expense:
Legal expense $800,000
Total selling and administrative expense
$6,624,000
($5,824,000+$800,000)
Income from operation $432,000
($7,056,000-$6,624,000)
Therefore the annual income statement for the Kitchen Ninja knife series will be $432,000
2. Calculation to Determine the balances in the work in process and finished goods inventories for the Kitchen Ninja knife series on December 31, 2016
Calculation for Finished goods inventory
Finished goods inventory=($1,200,000 – $1,120,000) * 9.7
Finished goods inventory=$80,000*9.7
Finished goods inventory= $ 776,000
Calculation for Work in process
Work in process= 25,000 * (6 + 3.20)
Work in process=25,000*9.20
Work in process= $230,000
Therefore the balances in the work in process will be $776,000 and finished goods inventories will be $230,000 for the Kitchen Ninja knife series on December 31, 2016
A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $469,930 and direct labor hours would be 46,993. Actual factory overhead costs incurred were $523,248, and actual direct labor hours were 54,505. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year
Answer:
Overapplied overhead= $21,802
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 469,930 / 46,993
Predetermined manufacturing overhead rate= $10 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 10*54,505
Allocated MOH= $545,050
Finally, the over/under allocation:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 523,248 - 545,050
Overapplied overhead= $21,802
Ivanhoe Company reports the following operating results for the month of August: sales $392,000 (units 4,900), variable costs $247,000, and fixed costs $96,000. Management is considering the following independent courses of action to increase net income.
1. Increase selling price by 10% with no change in total variable costs or units sold.
2. Reduce variable costs to 57% of sales.
3. Reduce fixed costs by $22,000.
Which course of action wiIl produce the highest net?
Answer:
The best course of action is to increase the selling price by 10%.
Explanation:
Giving the following information:
sales $392,000 (units 4,900)
variable costs (247,000)
fixed costs (96,000)
Current net income= 49,000
First, we need to calculate the unitary selling price and variable cost:
Selling price= 392,000 / 4,900= $80
Unitary variable cost= 247,000 / 4,900= $50.41
Now, we will calculate the impact on net income of each variation:
Increasing selling price by 10%:
Selling price= 80*1.1= $88
Effect on income= 8*4,900= $39,200 increase
Reduce variable costs to 57% of sales.
Unitary variable cost= 80*0.57= $45.6
Effect on income= (50.41 - 45.6)*4,900= $23,569 increase
Reduce fixed costs by $22,000.
Effect on income= $22,000 increase
1-year Treasury bill yield is 3.5%. 10-year Treasury bond yield is 4.5%. Expected rate of inflation embedded in both the Treasury bill and bond is 2.0%. Average yield on AAA-rated 10-year corporate bonds is 5.75%. Average yield on BB-rated 10-year corporate bonds is 8%. Liquidity premium on both Treasury bill and bond is zero. Liquidity premium on both AAA-rated and BB-rated bonds are 0.5%. What is the maturity risk premium embedded in the 10-year Treasury bond
Answer: 2.5%
Explanation:
Treasury bonds have no default risk as they are backed by the U.S. government. The premiums that make up the yield are the inflation, liquidity and maturity risk premiums.
Required yield on Treasury bond = Inflation premium + Liquidity premium + Maturity risk premium
4.5% = 2% + 0% + Maturity risk premium
MRP = 4.5% - 2% - 0%
= 2.5%
Everything Looks Like a Nail, Inc is a manufacturing company that produces hammers. The company faces a number of fixed and variable costs in the short run. Determine which of the costs below are examples of fixed costs or examples of variable costs by placing them in the correct category. Assume the company cannot easily adjust the amount of capital it uses.Fixed Costs Variable Costsa. interest rate on current debtb. regulatory compliance costsc. annual salaries of top managementd. cost of metal used in manufacturinge. cost of wood used in manufacturingf. postage and packaging costsg. lease on buildingh. industrial equipment costs
Answer:
Fixed costs do not depend on the level of output. They are therefore paid regardless of production.
Variable costs are only incurred as production goes on.
Fixed cost
a. Interest rate on current debt
b. Regulatory compliance costs
c. Annual salaries of top management
g. Lease on building
h. Industrial equipment costs
Variable Costs
d. Cost of metal used in manufacturing
e. Cost of wood used in manufacturing
f. Postage and packaging costs
On January 1, 2019, Tonika Company issued a six-year, $10,000, 6% bond. The interest is payable annually each December 31. The issue price was $9,523 based on an 7% effective interest rate. Tonika uses the effective-interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to:
Answer:
$9,590
Explanation:
Calculation to determine what The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to:
First step is to calculate the Interest paid
Interest paid = 10000*6%
Interest paid= 600
Second step is to calculate the Interest expense
Interest expense = 9,523*7%
Interest expense= 667
Third step is to calculate the Discount amortization
Discount amortization =667-600
Discount amortization = 67
Now let calculate Book value at the end of December 31,2020
Book value at the end of December 31,2020 = 9,523 +67
Book value at the end of December 31,2020 = $9,590
Therefore The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to:$9,590
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8.6 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $11.4 million if it were sold today. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.6 million to build, and the site requires $1,010,000 worth of grading before it is suitable for construction.
Required:
What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project? (Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567).)
Answer:
$35,010,000
Explanation:
Calculation for the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project
Cash flow = $11.4 million + $22.6 million + $1,010,000
Cash flow = $35,010,000
Therefore the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project is $35,010,000
Sarratt Corporation's contribution margin ratio is 70% and its fixed monthly expenses are $38,000. Assume that the company's sales for May are expected to be $97,000. Required: Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change.
Answer:
The company's net operating income for May is $7,930
Explanation:
Sales revenue = $97,000
Variable costs
= $97,000 × (1 - 70%)
= $97,000 × 0.69
= $66,930
Fixed costs = $38,000
Therefore, net operating income = Sales - revenue - variable cost - fixed cost
= $97,000 - $66,930 - $38,000
= $7,930
1.
What is CASS and what is its purpose?
Ayala Architects incorporated as licensed architects on April 1, 2017. During tne first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $18,000 cash in exchange for common stock of the corporation.
Hired a secretary-receptionist at a salary of $375 per week, payable monthly.
2 Paid office rent for the month $900.
3 Purchased architectural supplies on account from Burmingham Company $1, 300.
10 Completed blueprints on a carport and billed client $1, 900 for services.
11 Received $700 cash advance from M. Jason to design a new home.
20 Received $2, 800 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $ 1, 500.
30 Paid $300 to Burmingham Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense.
Instructions:
(a) Journalize the transactions, including explanations
(b) Post to the ledger T-accounts.
(c) Prepare a trial balance on April 30, 2017.
Answer:
Ayala Architects
a) Journal Entries:
Apr. 1: Debit Cash $18,000
Credit Common Stock $18,000
To record the issuance of common shares for cash.
Apr. 2: Debit Rent Expense $900
Credit Cash $900
To record the payment of rent for the month.
Apr. 3: Debit Supplies $1,300
Credit Accounts payable (Burmingham Company) $1,300
To record the purchase of supplies on account.
Apr. 10: Debit Accounts receivable $1,900
Credit Service Revenue $1,900
To record the sale of services on account.
Apr. 11: Debit Cash $700
Credit Unearned Service Revenue $700
To record receipt of cash in advance for services.
Apr. 20: Debit Cash $2,800
Credit Service Revenue $2,800
To record the receipt of cash for services rendered.
Apr. 30: Debit Salaries and Wages Expense $1,500
Credit Cash $1,500
To record payment of salaries for the month. ($375 * 4 weeks)
Apr. 30: Debit Accounts payable (Burmingham Company) $300
Credit Cash $300
To record payment on account.
b) T-accounts
Cash
Account Titles Debit Credit
Common stock $18,000
Rent $900
Unearned revenue 700
Service revenue 2,800
Salaries and wages 1,500
Accounts payable 300
Balance 18,800
Accounts Receivable
Account Titles Debit Credit
Service Revenue $1,900
Supplies
Account Titles Debit Credit
Accounts payable $1,300
Accounts Payable
Account Titles Debit Credit
Supplies $1,300
Cash $300
Balance 1,000
Unearned Service Revenue
Account Titles Debit Credit
Cash $700
Common Stock
Account Titles Debit Credit
Cash $18,000
Service Revenue
Account Titles Debit Credit
Accounts receivable $1,900
Cash 2,800
Balance $4,700
Salaries and Wages Expense
Account Titles Debit Credit
Cash $1,500
Rent Expense
Account Titles Debit Credit
Cash $900
c) Trial Balance
As of April 30, 2017:
Account Titles Debit Credit
Cash $18,800
Accounts receivable 1,900
Supplies 1,300
Accounts payable $1,000
Unearned Service Revenue 700
Common Stock 18,000
Service Revenue 4,700
Salaries and wages exp. 1,500
Rent Expense 900
Totals $24,400 $24,400
Explanation:
a) Data and Analysis:
Apr. 1: Cash $18,000 Common Stock $18,000
Apr. 2: Rent Expense $900 Cash $900
Apr. 3: Supplies $1,300 Accounts payable (Burmingham Company) $1,300
Apr. 10: Accounts receivable $1,900 Service Revenue $1,900
Apr. 11: Cash $700 Unearned Service Revenue $700
Apr. 20: Cash $2,800 Service Revenue $2,800
Apr. 30: Salaries and Wages Expense $1,500 Cash $1,500 ($375 * 4 weeks)
Apr. 30: Accounts payable (Burmingham Company) $300 Cash $300
Suppose the residents of Vegopia spend all their income on cauliflower, broccoli, and carrots. In 2016, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2017, they buy 75 heads of cauliflower for $225, 80 bunches of broccoli for $120, and 500 carrots for $100. What will be the price of one unit of each vegetable (unit price given in the sequence cauliflower, broccoli and carrots) in 2016
what are the intermediaries of netflix
XYZ Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 1,000 units in its beginning work in process inventory that were 80% complete with respect to conversion costs. An additional 65,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 10,000 units in the ending work in process inventory of the Assembly Department that were 60% complete with respect to conversion costs.
Required:
What were the equivalent units for conversion costs in the Assembly Department for the month?
Answer: 61,200 units
Explanation:
Using the FIFO method:
= Equivalent units for beginning WIP + Units started and finished + EUP Ending WIP
Units started and finished = 65,000 additional units - 10,000 closing WIP
= 55,000 units
80% of the beginning WIP had been completed in the previous month so only 20% remains.
EUP Conversion = (1,000 * 20%) + 55,000 + (10,000 * 60%)
= 61,200 units
Suppose the Eastwestern University theater department has received $250,000 from the school's endowment fund to put toward scholarships to improve the department and assist theater students entering the program.
Professor Bucktell proposes that they should hold auditions and give $60,000 scholarships to the five most talented applicants in hopes of bringing the best and most promising talent to the school
Professor Rammer thinks that they should divide the money up into $10,000 scholarships to be given to the 25 applicants to the program with the most financial need, regardless of talent.
Professor Buckteil's proposal is an example of economic_________
Professor Rammer's proposal is an example of economic ________
Answer: Professor Buckteil's proposal is an example of (Economic efficiency).
Professor Rammer's proposal is an example of (Economic equality)
Explanation:
Professor Bucktell's proposal is economic efficiency. This means when the available resources in the economy are shared using the efficient mean possible and the best possible operation that's available.
Professor Rammer's proposal is economic equality. This refers to when everyone is given a fair and equal chance. There's a level playing field for everyone. This can be seen when he said that the money of up to $10,000 scholarships should be given to the 25 applicants to the program with the most financial need, regardless of talent.
Wanting to finalize a sale before year-end, on December 29, WR Outfitters sold to Bob a warehouse and the land for $125,000. The appraised fair market value of the warehouse was $75,000, and the appraised value of the land was $100,000. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)
a. What is Bob's basis in the warehouse and in the land?
b. What would be Bob's basis in the warehouse and in the land if the appraised value of the warehouse is $50,000, and the appraised value of the land is $125,000?
c. Which appraisal would Bob likely prefer?
Answer:
A. Warehouse basis $53,571
Land Basis $71,429
B. Warehouse basis $35,714
Land Basis $89,286
C. Appraisal basis in part (a)
Explanation:
a. Calculation to determine What would be Bob’s basis in the warehouse and in the land
Warehouse basis=$125,000*$75,000/(100,000+75,000)
Warehouse basis=$53,571
Land Basis=$125,000*$100,000/($100,000+$75,000)
Land Basis=$71,429
Therefore What would be Bob’s basis in the warehouse is $53,571 and in the land is $71,429
b. Calculation to determine What would be Bob’s basis in the warehouse and in the land if the appraised value of the warehouse was $50,000, and the appraised value of the land was $125,000
Warehouse basis=$125,000*$50,000/($50,000+$125,000)Warehouse basis=$35,714
Land basis=$125,000*$125,000/($125,000+$50,000)Land basis=$89,286
Therefore What would be Bob’s basis in the warehouse is $89,286 and in the land is $35,714 if the appraised value of the warehouse was $50,000, and the appraised value of the land was $125,000
c. Based on the above calculation for part (a) and part (b) the APPRAISAL that Bob would likely prefer will be the APPRAISAL amount in part (a) reason been that the appraisal enables him to allocate additional basis to the warehouse which was lesser in part (b).
Statement of Owner's Equity Zack Gaddis owns and operates Gaddis Advertising Services. On January 1, 20Y3, Zack Gaddis, Capital had a balance of $186,000. During the year, Zack invested an additional $9,300 and withdrew $65,100. For the year ended December 31, 20Y3, Gaddis Advertising Services reported a net income of $89,800.
Prepare a statement of owner's equity for the year ended December 31, 20Y3. Use the minus sign to indicate negative values.
Answer:
Zack Gaddis
Statement of owner's equity for the year ended December 31, 20Y3
Capital Retained Earnings Total
Beginning of the Year :
Opening Balance $186,000 - $186,000
During the year :
Additional Capital $9,300 - $9,300
Drawings ($65,100) - ($65,100)
Net Income - $89,800 $89,800
At the end of the year $130,200 $89,800 $220,000
Explanation:
The statement of owner's equity for the year ended December 31, 20Y3 is prepared as above.
An accounting clerk for Chesner Co. prepared the following bank reconciliation: Chesner Co. Bank Reconciliation August 31
Cash balance according to company’s records $11,100
Add: Outstanding checks $3,585
Error by Chesner Co. in recording Check No. 1056 as $950 instead of $590 360
Note for $12,000 collected by bank, including interest 12,480 16,425
$27,525
Deduct: Deposit in transit on August 31 $7,200 Bank service charges 25 7,225
Cash balance according to bank statement $20,300
Required:
a. From the data prepared by the accounting clerk, prepare a new bank reconciliation for Chesner Co.,
b. If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?
Answer:
See below
Explanation:
Chesner Co.
Bank reconciliation statement
a.
Cash balance according to bank statement
$20,300
Add:
Deposit in transit on July 31
$7,200
Deduct:
Outstanding checks
($3,585)
Balance
$3,615
Adjusted balance
$23,915
Cash balance according to company's record
$11,100
Add:
Error in recording check no
1056 as $950 instead of $590
$360
Note for $12,000 collected by bank including interest
$12,480
Deduct:
Bank service charge
($25)
Balance
$12,815
Adjusted balance
$23,915
b. The amount that should be reported as cash if a balance sheet were prepared for Chesner Co. on July 31, 2016 is $23,915
Item13 Time Remaining 45 minutes 57 seconds00:45:57 Item 13 Time Remaining 45 minutes 57 seconds00:45:57 The world's largest manufacturer of peppermint candy canes was located in Albany, Georgia, until it could no longer afford to buy the sugar needed for its operation. It moved its manufacturing business to Mexico where there are no restrictions (like those that exist in the United States) on the amount of sugar that can be brought into the nation. The business moved to Mexico because of __________ established by the U.S. government.
Answer:
Quota
Explanation:
The world's largest manufacturer of peppermint candy canes moved its manufacturing business from Albany, Georgia to Mexico as there are no restrictions on the amount of sugar that can be brought into this nation (like those that exist in the United States.
The business moved to Mexico because of Quota established by the U.S. government.
Which of the following is not an important factor to assess when identifying appropriate precedent transactions?
Answer:
how to answer that ?????
The factor that is not important for the identification of precedent transactions is Accretive/dilutive effect of the transaction on the acquirer. Thus, option 2nd is correct.
What is precedent transaction?Precedent transaction refers to the valuation process of the price being paid for the similar companies in the past is taken into account as a gauge of a valuation of company's value.
An estimation of a share's value in the event of an acquisition is produced through precedent transaction analysis. It is the limitation of the precedent transaction that past cost may not reflect the prevailing conditions of the market.
Therefore, it can be concluded that The accretive or dilutive effect of the acquisition on the acquirer is a criterion that is not crucial for identifying prior transactions. Hence, option 2nd is correct.
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Your question is incomplete, but most probably the full question was...
Which of the following is not an important factor to assess when identifying appropriate precedent transactions?
1) Transaction rationale
2) Accretive/dilutive effect of the transaction on the acquirer
3) Transaction size
4) Industry & financial characteristics
In Question 7, suppose the maintenance supervisor has complained that trainees are having difficulty trouble shooting problems with the new electronics system. They are spending a great deal of time on problems with the system and coming to the supervisor with frequent questions that show a lack of understanding. The supervisor is convinced that the employees are motivated to learn the system, and they are well qualified. What do you think might be the problems with the current training program
Answer:
Since the employees are unable to understand the process properly, and they are well qualified, the problem is that the information and techniques used during the training program are not sufficient. Maybe the trainees are given unclear messages or the information is incomplete. The training program must be revised and technical issues should be explained better or in a different way.
The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a golden opportunity." The mine will cost $3,400,000 to open and will have an economic life of 11 years. It will generate a cash inflow of $575,000 at the end of the first year, and the cash inflows are projected to grow at 8 percent per year for the next 10 years. After 11 years, the mine will be abandoned. Abandonment costs will be $123,000 at the end of year 11.
Required:
What is the IRR for the gold mine? (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))
IRR
%
Answer:
19.07%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
Cash flow in year 0 = $-3,400,000
Cash flow in year 1 = $575,000
Cash flow in year 2 = $575,000 x 1.08
Cash flow in year 3 = $575,000 x 1.08^2
Cash flow in year 4 = $575,000 x 1.08^3
Cash flow in year 5 = $575,000 x 1.08^4
Cash flow in year 6 = $575,000 x 1.08^5
Cash flow in year 7 = $575,000 x 1.08^6
Cash flow in year 8 = $575,000 x 1.08^7
Cash flow in year 9 = $575,000 x 1.08^8
Cash flow in year 10 = $575,000 x 1.08^9
Cash flow in year 11 = ($575,000 x 1.08^10) - $123,000
IRR = 19.07%
To find the IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
define credit crunch.
Answer:
"a sudden sharp reduction in the availability of money or credit from banks and other lenders."
Answer: a sudden sharp reduction in availability of money or credit from Banks and other lenders
Explanation:
The manager of the main laboratory facility at Center is interested in being able to predict the overhead costs each month for the lab. The manager believes that total overhead varies with the number of lab tests performed but that some costs remain the same each month regardless of the number of lab tests performed. The lab manager collected the following data for the first seven months of the year. Number of Lab Total Laboratory Tests Performed Overhead CostsMonth January 2,700 $22,900February 2,500 $23,500March 3,500 $29,800 April 4,000 $32,500May 4,600 $31,100 June 2,250 $22,000 July 2,000 $19,100 1. Use the high-low method to determine the laboratory's cost equation for total laboratory overhead. Use your results to predict total laboratory overhead if 3,200 lab tests are performed next month.2. Use the high-low method to determine UrbanFit's operating cost equation.
Answer:
Total cost= 9,871 + 4.615*x
x=number of lab tests
Explanation:
To calculate the variable and fixed costs using the high-low method, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (31,100 - 19,100) / (4,600 - 2,000)
Variable cost per unit= $4.615
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 31,100 - (4.62*4,600)
Fixed costs= $9,871
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 19,100 - (4.615*2,000)
Fixed costs= $9,870
Total cost= 9,871 + 4.615*x
x=number of lab tests
Answer:
you need to use exel to find the awnser
Explanation: