Solution :
The cash received on the issue of the bond 785,400 [tex]$=770 \times 1000 \times 102\%$[/tex]
The bond market value without warrant 731,500 [tex]$=770\times 1000 \times 95\%$[/tex]
Bond total par value 770,000 [tex]$=770\times 1000$[/tex]
The initial carrying value of the bon payable $ 746,130 [tex]$=\frac{731,500 \times 785,400}{770,000}$[/tex]
Thus the initial carrying would be = $ 746,130
Where is Shengyren based
Answer:
Explanation:
Somewhere
Mountain High Ice Cream Company transferred $80,000 of accounts receivable to the Prudential Bank. The transfer was made with recourse. Prudential remits 90% of the factored amount to Mountain High and retains 10% to cover sales returns and allowances. When the bank collects the receivables, it will remit to Mountain High the retained amount (which Mountain estimates has a fair value of $7,000). Mountain High anticipates a $5,000 recourse obligation. The bank charges a 2% fee (2% of $80,000), and requires that amount to be paid at the start of the factoring arrangement.
Required:
Prepare the journal entry to record the transfer on the books of Mountain High assuming that the sale criteria are met.
Answer:
The answer is "$70,400 and $7,600"
Explanation:
Given:
Debit Cash[tex]=\$70,400[/tex]
Debit Loss on Sale of Receivables[tex]= \$7,600[/tex]
Debit on receivable from Factor[tex]= \$7,000[/tex]
Credit on the recourse liability[tex]= \$5,000[/tex]
Credit on receivable accounts[tex]= \$80,000[/tex]
[tex]\to (2\% \ of \ \$80,000) = 1,600[/tex]
Calculating the Debit cash:
[tex]\to (80,000 \times 0.90) - (80,000 \times 0.02) \\\\\to 72,000-1,600\\\\\to 70,400[/tex]
Calculating the Debit Loss on Sale of Receivables:
[tex]\to (5,000 + 80,000) - (70,400 + 7,000) \\\\\to 85,000 - 77,400 \\\\\to 7,600[/tex]
Choose the sentence that is most clearly written by circling the letter of your choice.
a. With her bonus money, Mary decided to paint the kitchen, carpet the dining room,and to buy a new stereo.
b. With her bonus money, Mary decided to paint the kitchen, carpet the dining room, and buy a new stereo.
c. With her bonus money, Mary decided to paint the kitchen, put carpet in the dining room, and to buy a new stereo.
d. With her bonus money, Mary decided to paint the kitchen, carpeting the dining room, and buying a new stereo.
Answer:
c
Explanation:
choose c because the correct wording when writing, With her bonus money, Mary decided to paint the kitchen, put carpet in the dining room, and to buy a new stereo. this is the only sentence that uses the words put carpet in the dining room and that us grammatically correct.
The most clearly written sentence is With her bonus money, Mary decided to paint the kitchen, carpet the dining room, and buy a new stereo. Option B is the correct answer.
This sentence is concise and follows a parallel structure by using the verb "to" before each action (paint, carpet, buy). The sentence is clear and easy to understand, without any unnecessary words or repetitive phrases. Option B is the correct answer.
Sentence refers to the rules and structure that govern the formation and arrangement of words, phrases, and clauses within a sentence to convey meaning accurately. It ensures that a sentence is grammatically correct and easy to understand. A sentence typically consists of a subject (the person, thing, or idea the sentence is about) and a predicate (the part of the sentence that provides information about the subject, including the verb).
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Costs from Beginning Inventory Costs from Current Period
Direct materials $5,100 $25,200
Conversion costs $5,300 143,700
At the beginning of the period, there were 400 units in process that were 45% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 5,200 units were started and completed. Ending inventory contained 300 units that were 35% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO cost flow method. The cost of completing a unit during the current period was:________
Answer:
$30.59
Explanation:
Note that the FIFO method is used for this question
Equivalent Units
Materials = 5,200 x 100 % + 300 x 100 % = 5,500
Conversion Costs = 400 x 55 % + 5,200 x 100 % + 300 x 35 % = 5,525
Total Costs
Materials = $25,200
Conversion Costs = $143,700
Cost per Equivalent unit
Materials = $25,200/5,500 = $4.58
Conversion Costs = $143,700/5,525 = $26.01
Total Cost = $4.58 + $26.01 = $30.59
Conclusion
The cost of completing a unit during the current period was $30.59
During 2017, Roblez Corporation had the following transactions and events.
1. Declared a cash dividend.
2. Issued par value common stock for cash at par value.
3. Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock.
4. Declared a small stock dividend when the market price was higher than par value.
5. Made a prior period adjustment for overstatement of net income.
6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above.
7. Paid the cash dividend in item no. 1 above.
8. Issued par value common stock for cash above par value.
Required:
Indicate the effect(s) of each of the foregoing items on the subdivisions of stockholders’ equity.
Answer:
The effects of each of the items can be indicated as follows:
Paid in Capital
Item Capital Stock Additional Retained Earnings
1. No Effect No Effect Decrease
2. Increase No Effect No Effect
3. No Effect No Effect No Effect
4. Increase Increase Decrease
5. No Effect No Effect Decrease
6. No Effect No Effect No Effect
7. No Effect No Effect No Effect
8. Increase Increase No Effect
.
Explanation:
1. Declared a cash dividend.
This decreases cash and retained earnings but has no effect on common stock and additional paid in capital.
2. Issued par value common stock for cash at par value.
This increases cash and also increases common stock.
3. Completed a 2-for-1 stock split in which $10 par value stock was changed to $5 par value stock.
This does not affect any account but only increases the number of shares without any increase in the total common stock value.
4. Declared a small stock dividend when the market price was higher than par value.
This is a type of dividend that increases the common stock and additional paid in capital but decreases the retained earnings.
5. Made a prior period adjustment for overstatement of net income.
This reduces the net income and the retained earnings no effect on common stock and additional paid in capital.
6. Issued the shares of common stock required by the stock dividend declaration in item no. 4 above.
Since this is just to effect number 4 above, it has no further effect on any of the subdivisions of stockholders’ equity.
7. Paid the cash dividend in item no. 1 above.
Since this is just to effect number 1 above, it has no further effect on any of the subdivisions of stockholders’ equity.
8. Issued par value common stock for cash above par value.
This increases cash, common stock, and additional paid in capital. But this does affect retained earnings.
The number-one cause of divorce in America is:
Religious differences
Money fights
The in-laws
None of the above
Answer:
none of the above ,
not sure about it.
2. Below are mixed SWOT factors of KFC case study. Fill the chart to Identify each SWOT factor. (2points each)
• With over 15,000 establishments in 120 countries, KFC is an internationally recognized venue.
• Increasing numbers of competitors.
• Serving high-fat foods; considering how health-conscious the public is these days, greasy chicken is not going to cut it anymore.
• KFC is in the prime spot to dive into the vegetarian market. Adding new vegetarian options will improve the relationship between KFC and health-conscious and vegetarian consumers.
• KFC became popular thanks to its good chicken.
• Raw material prices are rising.
• By maintaining the same price point with new menu options, KFC is positioned to enter a new market without sacrificing the beloved chicken-focused meals.
• KFC follows a franchise management system, meaning each one is individually managed. It is not uncommon for one KFC to have high reviews while another, just down the street, is collecting bad press.
• Alongside KFC, Taco Bell and Pizza Hut also share the same corporate owner brands. Brands have the influence, power, and resources to improve KFC as a restaurant.
• Introduce new products fish and deals menu that will attract more customers.
SWOT Analysis of KFC
Strengths
Weaknesses
Opportunities
Threats
Answer:
Strengths :
1. With over 15,000 establishments in 120 countries, KFC is an internationally recognized venue.
2. Alongside KFC, Taco Bell and Pizza Hut also share the same corporate owner brands. Brands have the influence, power, and resources to improve KFC as a restaurant.
3. KFC became popular thanks to its good chicken
Weaknesses :
1. Serving high-fat foods; considering how health-conscious the public is these days, greasy chicken is not going to cut it anymore.
2. KFC follows a franchise management system, meaning each one is individually managed. It is not uncommon for one KFC to have high reviews while another, just down the street, is collecting bad press.
Opportunities :
1. By maintaining the same price point with new menu options, KFC is positioned to enter a new market without sacrificing the beloved chicken-focused meals
2. KFC is in the prime spot to dive into the vegetarian market. Adding new vegetarian options will improve the relationship between KFC and health-conscious and vegetarian consumers
3. Introduce new products fish and deals menu that will attract more customers.
Threats :
1. Increasing numbers of competitors.
2. Raw material prices are rising.
Information regarding the potential for a job opening is a _____.
job board
job lead
job offer
job description
Answer:
Your answer is "Job lead"
With critical internal metrics collected as part of the market information system, management is able to do two things. First, management might use this information to identify the problem, and second, and more effective in its use of market information systems, is to proactively address issues before they become a problem.
a. True
b. False
Answer: True
Explanation:
Internal data simply had to do with the information that is generated and gotten from the company or organization.
We should note that critical internal metrics is collected as part of the market information system as it helps in addressing certain issues with regards to the business before they become a problem.
Having the right information is vital for the decision makers in an organization to make decisions. A vital aspect of the marketing management is the creation of a procedure which collects relevant information and then analyses them.
Based on the above explanation, the statement above is true.
Pacific Packaging's ROE last year was only 6%; but its management has developed a new operating plan that calls for a debt-to-capital ratio of 40%, which will result in annual interest charges of $168,000. The firm has no plans to use preferred stock and total assets equal total invested capital. Management projects an EBIT of $356,000 on sales of $4,000,000, and it expects to have a total assets turnover ratio of 2.7. Under these conditions, the tax rate will be 35%. If the changes are made, what will be the company's return on equity? Do not round intermediate calculations. Round your answer to two decimal places._________%
Answer:
13.75%
Explanation:
Calculation for what will be the company's return on equity
First step
Asset Turnover Ratio= Net Sales / Total Assets ------(1)
Given Asset Turnover Ratio =2.7
=> 2.7 = 4,000,000/ Total Assets (from equation 1)
=>Total Assets = 1,481,481 ------(2)
Second step
ROE = Net Income / Equity
Net Income = (EBIT - Interest Charges) *(1-tax rate)
Net Income = (356,000 -168,000) *(1-35%)
Net Income = $122,200 --------(3)
Equity = Total Assets *(1-debt ratio)
Equity = 1,481,481*(1-0.4) = $888,889 --------(4)
From equation 3 and 4
ROE = Net Income / Equity
ROE= 122,200/888,889
ROE =0.1375*100
ROE=13.75%
Therefore ROE will be 13.75%
A division can sell externally for $40 per unit. Its variable manufacturing costs are $15 per unit, and its variable marketing costs are $6 per unit. The variable marketing costs can be avoided if the units are transferred internally. What is the opportunity cost of transferring internally, assuming the division is operating at capacity
Answer:
$19
Explanation:
The opportunity cost of transferring internally is the lost contribution of selling the units externally.
Contribution = Sales - Variable Costs
where,
Sales = $40
Variable Costs = $15 + $6 = $21
therefore,
Lost Contribution = $40 - $21 = $19
Conclusion
the opportunity cost of transferring internally is $19.
What is true about analyzing the budget?
Answer:
In business, budgets provide the organizing framework for financial planning and tools for controlling spending.
In large entities, the Budget Office Director and staff work with individual managers and others seeking funding approval. As a result, budget proposals conform to local policies. And, the entire proposal package aligns with group objectives.
Explanation:
I don't know if this is what you were looking for...
During 2007, the U.S. economy was hit by a price shock when the price of oil increased from around $60 per barrel to around $130 per barrel by June 2008. While inflation increased during the fall of 2007 (from around 2.5% to 4.0%), unemployment did not change significantly (it even increased slightly). Explain the relationship between inflation and unemployment in 2007 using the modern Phillips curve concept.
Answer:
The "old" Phillips curve hasn't been used since the 1980s. Since then it was adapted to show long term relationships between the inflation rate and the unemployment rate. When a upwards price shock in the aggregate supply curve occurs, the whole unemployment curve shifts to he right (upwards) and the new unemployment equilibrium is given by the intersection between the unemployment curve and the long run Phillips curve (vertical line).
Explanation:
The following account appears in the ledger prior to recognizing the jobs completed in January:
Work in Process
Balance, January 1 $17,510
Direct materials 142,360
Direct labor 153,560
Factory overhead 80,720
Jobs finished during January are summarized as follows:
Job 210 $70,950
Job 224 $82,770
Job 216 43,360
Job 230 161,600
Required:
a. Journalize the entry to record the jobs completed.
b. Determine the cost of the unfinished jobs at January 31.
Answer:
Following are the solution to this question:
Explanation:
In point a:
Journal Entry :
Account Dr Cr.
Goods completed [tex]\$358,680[/tex]
Processing work [tex]\$358,680[/tex]
Complete total labour costs
[tex]= \$70,950 + \$82,770 + \$ 43,360 + \$ 161,600 \\\\ = \$ 358680[/tex]
In point b:
Uncompleted jobs cost:
[tex]\text{Balance, January 1} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$17,510\\\\\text{Direct materials} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$142,360\\\\ \text{Direct labor } \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$153,560\\\\\text{Factory overhead } \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$80,720\\\\\text{Cost of Finished Goods Transferred} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ (\$ 358680)\\\\\text{Cost of Unfinished Jobs on Aug 31} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$ 35470\\\\[/tex]
Benjamin was an older adult who decided to move from his lifetime home on a small farm to an assisted living facility. Benjamin had no spouse or surviving family. He decided to transfer his property to his neighbor, Gabriel. Benjamin would use the money gained from the transfer to help pay for his assisted living expenses. Shortly after Benjamin had moved into the assisted living facility, Gabriel changed his mind about wanting to own the property. In subsequent litigation over this dilemma, Benjamin argued that all of the proper procedures had been completed to legally transfer the property to Gabriel. The court agreed, ruling in favor of Benjamin. But what if the facts of the case were different?
Answer:
Benjamin failed to properly identify the grantee in the deed.
Explanation:
From the question we are informed about Benjamin, who was an older adult who decided to move from his lifetime home on a small farm to an assisted living facility. Benjamin had no spouse or surviving family. He decided to transfer his property to his neighbor, Gabriel. Benjamin would use the money gained from the transfer to help pay for his assisted living expenses. Shortly after Benjamin had moved into the assisted living facility, Gabriel changed his mind about wanting to own the property. In subsequent litigation over this dilemma, Benjamin argued that all of the proper procedures had been completed to legally transfer the property to Gabriel. The court agreed, ruling in favor of Benjamin. In the case, whereby the facts of the case were different, then I would say Benjamin failed to properly identify the grantee in the deed. The grantee who is the party that received the transfer of the property, and once the grantee is not properly identified the court cannot rule in favor of Benjamin.
Which statements describe junction tables? Check all that apply.
They create orphaned data in tables.
They link two tables into a new table.
They create a one-to-one relationship.
They exclude all nonkey fields in a table.
They contain the primary key fields of two tables.
They connect tables with many-to-many relationships.
Answer:
B E F
Explanation:
They link two tables into a new table.
They contain the primary key fields of two tables.
They connect tables with many-to-many relationships.
Thus options B, E, and F are correct.
What are junction tables?The referential integrity values of the two you really want to relate are contained in a junction table. Finally, you establish a connection between the junction table's relevant columns that each of those rows' primary key columns.
To create a new panel, they join two existing ones. They include the fields for two tables' primary keys. Tables with very many relations are connected by them.
When there is an item that can be replicated over numerous new entries, such a birthday or a period, the junction table should indeed be utilized to get your facts to the smallest value of normalization possible. Therefore, option B, E, and F is the correct option.
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For Accounting, I need help knowing how to journalize the following transaction:
Paid freight bill of $70 on September 3 purchase.
The accounts that are available to use are:
- Accounts Payable
- Accounts Receivable
- Cash
- Cost of Goods Sold
- Delivery Expense
- Estimated Returns Inventory
- Freight In
- Merchandise Inventory
- Purchase Discounts
- Purchase Returns and Allowances
- Purchases
- Refunds Payable
- Sales Revenue
I'd appreciate any help I can get with this!
Answer:
SI PAPIIIII
ExplanatioLOLn:
TE AMO
Veryclear Glassware is a new business owned by Samantha Peoples, the company president. Her first year of operation commenced on April 1, 2020.
EIN: 78-7654398
Address: 23051 Old Redwood Highway, Sebastopol, California 95482, phone 707-555-5555
Number of employees: 13
Wages, tips, and other compensation paid during second quarter 2018: $299,423
Income tax withheld from employees: $59,884.60
Social Security tax withheld from employees: $18,564.23
Medicare tax withheld from employees: $4,341.77
Monthly tax liability:
April $ 35,232.20
May 35,232.20
June 35,232.20
Required:
Complete the State of California Form DE-9.
Answer:
Veryclear Glassware
EIN: 78-7654398
Address: 23051 Old Redwood Highway, Sebastopol, California 95482, phone 707-555-5555
Number of employees: 13
State of California Form DE-9
Total wages paid to employees = $299,423.00
Taxes withheld from employees = $82,790.60
Total tax liability for the quarter = $105,696.60
Under-withheld taxes = $22,906.00
Explanation:
a) Data and Calculations:
Wages = $299,423
Income tax withheld from employees: $59,884.60
Social Security tax withheld from employees: $18,564.23
Medicare tax withheld from employees: $4,341.77
Total taxes withheld from employees = $82,790.60
Monthly tax liability:
April $ 35,232.20
May 35,232.20
June 35,232.20
Total tax liability = $105,696.60 $105,696.60
Taxes not withheld (due) $22,906.00
b) A reconciliation of the taxes withheld with the quarter's tax liability shows that $22,906 was still due to be paid to the state for employee taxes.
In wisely selecting a target market, positive attributes should include:
A. Psychographic, small size, many choices for consumers
B. Multiple competitors, large size, geographic proximity
C. Identifiable, divisible, accessible, with enough revenue potential
D. Enough revenue potential, diffuse targets, turbulent changes
Answer:
c
Explanation:
A target market can be described as a group of people that are particular good or service is aimed for.
For example, if you start producing a stethoscope, your target market would be doctors
Characteristic of a good target market include :
1. they are accessible : you are able to reach your potential clients and sell your product
2. they are defined : you know who your products are suited for
3. There would be enough demand for the good - they are interested in product being offered. they are likely to buy it .
the larger the size of the target market, the higher the revenue potential
If there are many competitors, it would lead to price wars and this would limit the amount of profit that can be earned.
Sandhill Corp. factors $444,000 of accounts receivable with Teal Finance Corporation on a without recourse basis on July 1, 2020. The receivables records are transferred to Teal Finance, which will receive the collections. Teal Finance assesses a finance charge of 1.80% of the amount of accounts receivable and retains an amount equal to 5% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale.
Required:
a. Prepare the journal entry on July 1, 2020, for Reynolds Corp. to record the sale of receivables without recourse.
b. Prepare the journal entry on July 1, 2020, for Mateer Finance Corporation to record the purchase of receivables without recourse—please think through this.
c. Explain the difference between sale of receivables with recourse as oppose to without recourse.
Answer:
a. Date Account Title and Explanation Debit Credit
1 - Jul Cash ($440,000-$22,000-$7,920) $410,080
Due from Factor ($440,000*5%) $22,000
Loss on sale of receivables ($440,000*1.8%) $7,920
Accounts receivable $440,000
(To record sale of accounts receivable to Factor)
b. Date Account Title and Explanation Debit Credit
1 - Jul Accounts receivable $440,000
Due to customer $22,000
Interest revenue $7,920
Cash $410,080
(To record purchase of accounts receivable)
c. Sale or financing of accounts receivables with recourse is a transaction in which a company sells its accounts receivable to a factoring company with an assurance to cover the risk of uncollectible.
Sale or financing of accounts receivables without recourse is a transaction in which the company selling its accounts receivables to a factoring company, in which the factoring company bears the risk of uncollectible.
The average annual income rises from $25,000 to $38,000, and the quantity of bread consumed in a year by the average person falls from 30 loaves to 22 loaves. What is the income elasticity of bread consumption? Is bread a normal or an inferior good?
Answer:
the income elasticity of bread is 20/39 and bread is an inferior good
PLEASE HELP ASAP!!
Be sure to use COMPLETE sentences when answering the following questions.
1. Compare the United States with the rest of the world, in land size, population and output of
goods and services.
2."One way to find out how our economy is doing is to compare output from year to year." What
does this statement mean?
Answer:
it means to calculate numbers of things exported
Problem 9-41 (LO. 5)
Elijah, who is single, is employed as a full-time high school teacher. The school district where he works recently instituted a policy requiring all of its teachers to start working on a master's degree. Pursuant to this new rule, Elijah spent most of the summer of 2017 taking graduate courses at an out-of-town university. His MAGI is $64,000 and expenses are as follows:
Tuition $6,600
Books and course materials 1,500
Lodging 1,700
Meals 2,200
Laundry and dry cleaning 200
Campus parking 300
In addition, Elijah drove his personal automobile 2,200 miles in connection with the education. He uses the automatic mileage method.
Click here to access Exhibit 9.1. Assume that the AGI limitations of § 222 are not exceeded.
a. Which of these expenses, if any, might qualify as deductions for AGI? Select "Yes" or "No" whichever is applicable.
Tuition (subject to limitation) Yes
Lodging No
Auto mileage No
Campus parking No
Books and course materials No
Laundry and dry cleaning No
Meals (subject to 50% limit) No
How much, if any, of these expenses might qualify as deductions for AGI? 4000
b. How much of these expenses might qualify as deductions from AGI? (Assume the amount from Part a is claimed.)
Answer:
A. Tuition
$4,000
B. $8,665
Explanation:
a. Based on the information given the expenses, that might qualify as deductions for AGI which is fully known as ADJUSTED GROSS INCOME is TUITION.
Calculation to determine how much of these expenses might qualify as deductions for AG1
Based on the information given How much of these expenses might qualify as deductions for AGI (ADJUSTED GROSS INCOME) is $4,000 reason been that ADJUSTED GROSS INCOME limitation of section 222 did not exceed the amount of $65,000 for unmarried return as well as the amount of $130,000 for a joint return) which means that since Elijah spent the amount of $6,600 on his tuition, the section 222 deduction for Elijah ADJUSTED GROSS INCOME will be limited to the amount of $4,000
b. Calculation to determine How much of these expenses might qualify as deductions from AG1
Tuition $2,600
($6,600 − $4,000)
Add Books and course materials $1,500
Add Lodging $1,700
Add Meals $1,100
($2,200 × 50% cutback adjustment)
Add Laundry and dry cleaning $200
Add Campus parking $300
Add Auto mileage $1,265
(2,200 miles × $.575)
Total deduction from AGI $8,665
($2,600+$1,500+$1,700+$1,100+$200+$300+ $1,265)
Therefore How much of these expenses might qualify as deductions from AGI Assuming the amount from Part a is claimed will be $8,665
_______ describes approaches that recognize differences between target markets by using individual marketing mixes.
a. market segmentation
b. segmentation criteria
c. segmented marketing strategy
Answer:
Option C, Segmented marketing strategy
Explanation:
Segmented marketing strategy is a process of breaking down the targeted audience into smaller groups so that it can be easily managed. The criteria’s used for breaking down the market include – geography, behaviour, demography and Psychographic.
Hence, option C is correct
Each of these items must be considered in preparing a statement of cash flows for Teal Mountain Company. for the year ended December 31, 2022. For each item, state how it should be shown in the statement of cash flows for 2022.
(a) Issued bonds for $300,000 cash. Choose the type of cash inflows and outflows
(b) Purchased equipment for $270,000 cash. Choose the type of cash inflows and outflows
(c) Sold land costing $30,000 for $30,000 cash. Choose the type of cash inflows and outflows
(d) Declared and paid a $75,000 cash dividend.
Answer:
a. Cash flow from Finance Activities - Cash Inflow $300,000.
b. Cash flow from Investment Activities - Cash Outflow $270,000.
c. Cash flow from Investment Activities - Cash Inflow $30,000.
d. Cash flow from Finance Activities - Cash Outflow $75,000.
Explanation:
The Statement of Cash flows shows 3 types of Cash flow headings which are :
Cash flow from Operating ActivitiesCash flow from Investment ActivitiesCash flow from Financing ActivitiesOperating Activities are Trading activities. Investing Activities involve buy and sell of assets or investment. Finance Activities involve sourcing of finance
Forest Company, which uses a weighted-average process-costing system, had 7,000 units in production at the end of the current period that were 60% complete. Material A is introduced at the beginning of the process; material B is introduced at the end of the process; and conversion cost is introduced evenly throughout manufacturing. Equivalent-unit production costs follow.Material A: $12.50Material B: $2.00Conversion cost: $6.60The cost of the company's ending work-in-process inventory is:A. $88,620.B. $115,220.C. $123,620.D. $147,700.E. some other amount.
Answer:
B. $115,220
Explanation:
Material A introduced at the beginning of the process = $12.50
Conversion Cost = $6.6*60% = $3.96
Total = $12.5 + $3.96 = $16.46
WIP ending inventory = $16.64*7000 units
WIP ending inventory = $115,220
does government spending contribute to economic growth
Answer:
Increased government spending is likely to cause a rise in aggregate demand (AD). This can lead to higher growth in the short-term. ... Higher government spending will also have an impact on the supply-side of the economy – depending on which area of government spending is increased.
Explanation:
What are the big disagreements in macroeconomics? Complete the following passage regarding the Great Depression. T
he Great Depression challenged the prevailing __________ economic belief that the macroeconomy __________ returns to long-run equilibrium following a __________ shock, since it wasn’t until __________ after the Depression began that real GDP returned to pre-Depression levels.
a. slowly
b. classical
c. four years
d. supply
e.never
f. seven years
g. several months
h. quickly
i. demand
j. Keynesian
Answer:
Classical; quickly; demand; seven years.
Explanation:
Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets.
Hence, it is focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.
The Great Depression challenged the prevailing classical economic belief that the macroeconomy quickly returns to long-run equilibrium following a demand shock, since it wasn't until seven years after the Depression began that real GDP returned to pre-Depression levels.
John Maynard Keynes was an economist during the Great Depression which was a period of;
- High unemployment
- High deflation.
John Maynard Keynes who was born on the 5th of June 1883, was a British economist.
During the Great Depression, John Maynard Keynes promoted expansionary actions to encourage economic recovery.
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents $6,900
Accounts receivable (net) 39,000
Inventory 79,000
Property, plant, and equipment (net) 215,000
Accounts payable 58,000
Salaries payable 19,000
Paid-in capital 195,000
The only asset not listed is short-term investments. The only liabilities not listed are $49,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.7:1.
Required:
Determine the following at December 31, 2021:
1. Total current assets
2. Short-term investments
3. Retained earnings
Answer:
1. $132,600
2. $7,700
3. $25,600
Explanation:
1. Calculation to determine Total current assets
First step is to calculate the Current liabilities using this formula
Current liabilities = salaries payable + accounts playable + accrued interest
Let plug in the formula
Current liabilities= 19000 + 58000 + 1000
Current liabilities= 78000
Now let calculate the Total current assets using this formula
Total current assets = current ratio * current liabilities
Let plug in the formula
Total current assets = 1.7* 78000
Total current assets = $132,600
Therefore Total current assets is $132,600
2. Calculation to determine Short-term investments
Using this formula
Short term investments = Current assets - [cash + accounts receivables + inventory]
Let plug in the formula
Short term investments = 132,600 - [6900 + 39,000 + 79,000]
Short term investments = $7,700
Therefore Short term investments will be $7,700
3. Calculation to determine the Retained earnings
Using this formula
Current assets + fixed assets = Current liabilities + Long term liabilities + paid in capital + retained earnings
Let plug in the
132,600 + 215,000 = 78,000 + 49,000 + 195,000 + Retained earnings
347,600 = 322,000 + retained earnings
Retained earnings = 347,600 - 322,000
Retained earnings = $25,600
Therefore Retained earnings will be $25,600
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