Answer:
False.
Explanation:
Operant conditioning can be defined as an associative learning process which involves reinforcing the strength of a behavior. Thus, the outcome depends on the response in operant conditioning.
A reinforcement of a desired behavior involves the process of strengthening a positive behavior being exhibited by an individual through the use of stimulus. Therefore, making the behavior to be exhibited in the future by the individual.
Basically, by reinforcing desired behaviors with rewards, parents, teachers and leaders can help people in building positive norms.
Behavior modification is a therapeutic process that is focused on changing any undesirable negative behavior in an individual through the use of positive or negative consequence and biofeedback.
Behavior modification is typically based on operant conditioning principles, through negative or positive reinforcement, undesirable behaviors developed by an individual are mainly replaced with more desirable ones.
Behavior modification can also be used to correct human behaviors or disorders such as enuresis (bed-wetting), Obsessive-Compulsive Disorder (OCD), generalized anxiety disorder, Attention-Deficit/Hyperactivity Disorder (ADHD), phobias, etc.
Hence, one’s behavior can be affected by one’s subconscious.
Answer:
false
Explanation:
Curtiss Construction Company, Inc. entered into a fixed-price contract with Axelrod Associates on July 1, 2015, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,000,000. The building was completed on December 31, 2017. Accumulatedcontract costs incurred, estimated costs to complete the contract, accumulated billings to Axelrod and cash collections from Axelrod under the contract are as follows:
12/31/2015 12/31/2016 12/31/2017
Costs incurred (to date) $350,000 $2,500,000 $4,250,000
Estimated costs to complete 3,150,000 1,700,000 0
Billings to Axelrod (to date) 720,000 2,170,000 3,600,000
Cash collections (to date) 600,000 1,800,000 3,600,000
Required:
1. For each of the three years, prepare a schedule to compute total gross profit or loss to be recognized as a result of this contract.
2. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute gross profit or loss to be recognized in each of the three years.
3. Assuming Curtiss recognizes revenue over time according to percentage of completion, compute the amount to be shown in the balance sheet at the end of 2016 and 2017 as either cost in excess of billings or billings in excess of costs.
subject?
anwserggggggggggggg
GUYS PLEASE HELP, ILL GIVE BRAINLIEST
List 5 ways Chapter 7 and Chapter 13 Bankruptcies are similar:
Answer:
Explanation:
While Chapter 7 eliminates your debts while Chapter 13 restructures them, you will be able to enjoy something called an “automatic stay” when you file either. This stay means that your creditors are unable to contact you about recovering existing debts while the order is in place, and can be penalized by the courts if they violate the stay. In addition, this stay will put a halt to any wage garnishing that you have been subject to, meaning that you will be able to retain all of your earnings during this time.
How have you practiced initiative and results driven skills in your own life
Answer:
when i see others struggling i reach out and offer help. When i see areas where your life is not going as well as you would like to and i decide to do something about it.
Explanation:
Spring is here, and Brian and his grandfather would like to go fishing for the weekend in Vermont. Brian could either go to the river in town where anyone can fish without a permit, or he could drive up to a stream located on his family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy).
The fish in the private stream are considered _____ and _____ whereas the fish in the river are _____ and _____ . In other words, the fish in the private stream are an example of _____ , and the fish in the river are an example of _____.
Fishing in the river will likely lead to _____ because of which of the following reasons?
a. All fishermen will choose to fish in the stream believing that there are more fish there.
b. Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the drier.
c. All fishermen will choose to fish in the river because of the limited access to the stream.
d. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success.
Answer:
The fish in the private stream are considered ---excludable---and ----rivalrous-------- whereas the fish in the river are ---non-excludable----- and -----rivalrous---
In other words, the fish in the private stream are an example of ---private goods-------------? , and the fish in the river are an example of ---common goods-----.
Fishing in the river will likely lead to .....rivalry.... because of which of the following reasons:
d. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success.
Explanation:
Private goods possess some distinguishable characteristics from common and public goods. These main characteristics of private goods are Excludability, Rivalry, and Rejectability. But, public goods are characterized by non-rivalry and non-excludability. Common goods' characteristics rivalry and non-excludability.
The American textile industry has moved much of its operations offshore in the pursuit of lower labor costs. Textile imports have risen from under 5% of all textile production in the early 1960s to over 95% today. Offshore manufacturers make long runs of standard mass-market apparel items. These are then brought to the United States in container ships, requiring significant time between original order and delivery. As a result, retail customers must accurately forecast market demands for imported apparel items. Rather than competing with the offshore manufacturers on price in the textile industry, some U.S companies are:____.
a. providing smaller quantities with much faster delivery.
b. producing much larger batches with a strategy of flooding the market.
c. making large order commitments to control the fashion market.
d. "providing smaller quantities with much faster delivery", "producing much larger batches with a strategy of flooding the market", and "making large order commitments to control the fashion market" are correct.
e. None of these choices is correct.
Answer:
A
Explanation:
The strategy of US textile firms should be to capitalise the gaps of the offshore textile companies. One of the gaps of the offshore textile companies is long delivery time. Thus, US companies should focus on producing smaller quantities at a much faster delivery time.
The offshore firms already mass produce at a lower cost. thus, the US firms should not focus on these
moes tavern is considering a project with an initial cost of $15 million that would produce cash flows of 3 million the first year, 4 million the second, 5 million in the third year, and 6 million per year for the final two years. If the required return is 10.8%, should moe undertake the project?
Answer:
YES
THE NPV IS POSTIVE. IT IS 2.2 MILLION
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.
Cash flow in year 0 = $-15 million
Cash flow in year 1 = 3 million
Cash flow in year 2 = 4 million
Cash flow in year 3 = 5 million
Cash flow in year 4 = 6 million
Cash flow in year 5 = 6 million
I = 10.8
NPV = 2.2 million
To find the NPV 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 NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
gross domestic product includes the values of only final goods and services.
true or false
Jul. 1 Yang contributed $68,000 cash to the business in exchange for common stock.
Jul. 5 Paid monthly rent on medical equipment, $520.
Jul. 9 Paid $20,000 cash to purchase land to be used in operations.
Jul. 10 Purchased office supplies on account, $1,700.
Jul. 19 Borrowed $20,000 from the bank for business use.
Jul. 22 Paid $1,100 on account.
Jul. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $200.
Jul. 31 Revenues earned during the month included $6,200 cash and $5,600 on account.
Jul. 31 Paid employees' salaries $2,900, office rent $700, and utilities $250. Record as a compound entry.
Jul. 31 The business received $1,190 for medical screening services to be performed next month.
Jul. 31 Paid cash dividends of $7,300.
Required:
a.Journalize each transaction. Explanations are not required.
b. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts.
c. Prepare the trial balance of Vernon Yung, M.D. as of July 31, 2018.
Answer:
Vernon Yung, M.D.
1. Journal Entries:
Jul. 1 Debit Cash $68,000
Credit Common stock $68,000
Jul. 5 Debit Rent Expense $520
Credit Cash $520
Jul. 9 Debit Land $20,000
Credit Cash $20,000
Jul. 10 Debit Office supplies $1,700
Credit Accounts payable $1,700
Jul. 19 Debit Cash $20,000
Credit Notes Payable $20,000
Jul. 22 Debit Accounts payable $1,100
Credit Cash $1,100
Jul. 28 Debit Advertising expense $200
Credit Advertising payable $200
Jul. 31 Debit Cash $6,200
Debit Accounts receivable $5,600
Credit Service Revenue $11,800
Jul. 31 Debit Salaries expense $2,900
Debit Office rent expense $700
Debit Utilities expense $250
Credit Cash $3,850
Jul. 31 Debit Cash $1,190
Credit Deferred revenue $1,190
Jul. 31 Debit Dividends $7,300
Credit Cash $7,300
2. T- accounts:
Cash
Date Account Titles Debit Credit
Jul. 1 Common stock $68,000
Jul. 5 Rent Expense $520
Jul. 9 Land 20,000
Jul. 19 Notes payable 20,000
Jul. 22 Accounts payable 1,100
Jul. 31 Service revenue 6,200
Jul. 31 Salaries expense 2,900
Jul. 31 Rent expense 700
Jul. 31 Utilities expense 250
Jul. 31 Deferred revenue 1,190
Jul. 31 Dividends 7,300
Jul. 31 Balance $62,620
Accounts receivable
Date Account Titles Debit Credit
Jul. 31 Service revenue $5,600
Common stock
Date Account Titles Debit Credit
Jul. 1 Cash $68,000
Service Revenue
Date Account Titles Debit Credit
Jul. 31 Cash $6,200
Jul. 31 Accounts receivable 5,600
Jul. 31 Balance $11,800
Rent Expense
Date Account Titles Debit Credit
Jul. 5 Cash $520
Jul. 31 Cash 700
Jul. 31 Balance $1,220
Advertising Expense
Date Account Titles Debit Credit
Jul. 28 Advertising payable $200
Salaries expense
Date Account Titles Debit Credit
Jul. 31 Cash $2,900
Utilities
Date Account Titles Debit Credit
Jul. 31 Cash $250
Land
Date Account Titles Debit Credit
Jul. 9 Cash $20,000
Office supplies
Date Account Titles Debit Credit
Jul. 10 Accounts payable $1,700
Accounts payable
Date Account Titles Debit Credit
Jul. 10 Office supplies $1,700
Jul. 22 Cash $1,100
Jul. 31 Balance 600
Notes payable
Date Account Titles Debit Credit
Jul. 19 Cash $20,000
Advertising payable
Date Account Titles Debit Credit
Jul. 28 Advertising expense $200
Deferred revenue
Date Account Titles Debit Credit
Jul. 31 Cash $1,190
Dividends
Date Account Titles Debit Credit
Jul. 31 Cash $7,300
3. Vernon Yung, M.D.
Trial Balance as of July 31, 2018
Account Titles Debit Credit
Cash $62,620
Accounts receivable 5,600
Common stock $68,000
Service revenue 11,800
Accounts payable 600
Notes payable 20,000
Advertising payable 200
Deferred revenue 1,190
Rent expense 1,220
Advertising expense 200
Salaries expense 2,900
Utilities expense 250
Land 20,000
Office supplies 1,700
Dividends 7,300
Totals $101,790 $101,790
Explanation:
a) Data and Analysis:
Jul. 1 Cash $68,000 Common stock $68,000
Jul. 5 Rent Expense $520 cash $520
Jul. 9 Land $20,000 Cash $20,000
Jul. 10 Office supplies $1,700 Accounts payable $1,700
Jul. 19 Cash $20,000 Notes Payable $20,000
Jul. 22 Accounts payable $1,100 Cash $1,100
Jul. 28 Advertising expense $200 Advertising payable $200
Jul. 31 Cash $6,200 Accounts receivable $5,600 Service Revenue $11,800
Jul. 31 Salaries expense $2,900 Office rent expense $700 Utilities expense $250 Cash $3,850
Jul. 31 Cash $1,190 Deferred revenue $1,190
Jul. 31 Dividends $7,300 Cash $7,300
change into indirect speech anil said "I'll phone back later"
What are the two types of Insider Trading?
Explanation:
One is legal while the other is illegal.
Legal insider trading is when insiders trade the company's securities and report the trades to the authorities.
Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the current year Junior: Personally stayed in the home for 36 days. Rented it to his favorite brother at a discount for 12 days. Rented it to his least favorite brother for 9 days at the full market rate. Rented it to his friend at a discounted rate for 12 days. Rented the home to third parties for 52 days at the market rate. Did repair and maintenance work on the home for 2 days. Marketed the property and made it available for rent 140 days (but did not rent it out) during the year, in addition to the days mentioned above. How many days of personal use and how many days of rental use did Junior experience on the property during the year
Answer:
Days of personal use 69 days
Days of rental use 54 days
Explanation:
Calculation to determine How many days of personal use and how many days of rental use did Junior experience on the property during the year
Calculation for DAYS OF PERSONAL USE using this formula
Days of personal use=Days used personally+ Rented to favorite brother+Rented to least favorite brother+Rented to friend
Let plug in the formula
Days of personal use=36 days+12 days+9days+12 days
Days of personal use=69 days
Calculation for DAYS OF RENTAL USE using this formula
Days of rental use=Rented to third parties+Home repair and maintenance work
Let plug in the formula
Days of rental use=52 days+2 days
Days of rental use=54 days
Therefore Junior experience 69 days of personal use and 54 days of rental use during the year
When the year-to-year changes in comparative balance sheet accounts do not coincide with the changes implied from amounts reported on the statement of cash flows, the analyst may find useful information for reconciliation in notes to the financial statements and the:
Answer: Operating activties section of the cash flow statement.
Explanation:
A comparative balance sheet refers to the statement which shows an organization's financial position over different periods through which comparism is made.
It should be noted that the current liabilities and the adjustment for the changes in current assets are included in the operating activities secction of the cash flow statement.
As a result of the fact that the changes in assets don't tally with cash flows, the section with regards to the operating activities of the statement of cash flows
can help in this scenario.
The ledger of Tyler Lambert and Jayla Yost, attorneys-at-law, contains the following accounts and balances after adjustments have been recorded on December 31, 20Y3:
Lambert and Cost
ADJUSTED TRIAL BALANCE
December 31, 20Y3
ACCOUNT TITLE DEBIT CREDIT
1 Cash 33,600.00
2 Accounts Receivable 47,500.00
3 Supplies 2,200.00
4 Land 119,500.00
5 Building 157,200.00
6 Accumulated Depreciation-Building 67,400.00
7 Office Equipment 63,800.00
8 Accumulated Depreciation-Office Equipment 21,700.00
9 Accounts Payable 27,500.00
10 Salaries Payable 5,100.00
11 Tyler Lambert, Capital 135,400.00
12 Tyler Lambert, Drawing 49,500.00
13 Jayla Yost, Capital 88,100.00
14 Jayla Yost, Drawing 59,900.00
15 Professional Fees 394,500.00
16 Salary Expense 155,000.00
17 Depreciation Expense-Building 15,600.00
18 Property Tax Expense 12,300.00
19 Heating and Lighting Expense 8,400.00
20 Supplies Expense 5,800.00
21 Depreciation Expense-Office Equipment 5,300.00
22 Miscellaneous Expense 4,100.00
23 Totals 739,700.00 739,700.00
The balance in Yost’s capital account includes an additional investment of $10,200 made on April 10, 2016.
Required:
1. Prepare an income statement for 2016. Create a separate statement indicating the division of net income to the partners. The partnership agreement provides for salary allowances of $45,100 to Lambert and $54,500 to Yost, allowances of 10% on each partner’s capital balance at the beginning of the fiscal year, and equal division of the remaining net income or net loss.
2. Prepare a statement of partnership equity for 2016.
3. Prepare a balance sheet as of the end of 2016.
Answer:
Tyler Lambert and Jayla Yost, LLC.
1. Income Statement for the year ended December 31, 2016
15 Professional Fees 394,500
16 Salary Expense 155,000
17 Depreciation Expense-Building 15,600
18 Property Tax Expense 12,300
19 Heating and Lighting Expense 8,400
20 Supplies Expense 5,800
21 Depreciation Exp.-Office Equipment 5,300
22 Miscellaneous Expense 4,100 206,500
Net income 188,000
Division of net income to the partners:
Lambert Yost Total
Salary allowance $45,100 $54,500 $99,600
Interest on capital 13,540 8,810 22,350
Share of the remainder 33,025 33,025 66,050
Total $91,665 $96,335 $188,000
2. Statement of Partnership Equity for the year 2016:
Lambert Yost Total
Balance $135,400 $88,100 $223,500
Drawings (49,500) (59,900) (109,400)
Share of profit 91,665 96,335 188,000
Capital balance $177,565 $124,535 $302,100
3. Balance Sheet as of December 31, 2016
1 Cash 33,600
2 Accounts Receivable 47,500
3 Supplies 2,200 $83,300
Long-term assets:
4 Land 119,500
5 Building 157,200
6 Accumulated Depreciation-Building (67,400)
7 Office Equipment 63,800
8 Accumulated Depreciation-Equipment (21,700) $251,400
Total assets $334,700
Liabilities and Partners' Equity:
9 Accounts Payable 27,500
10 Salaries Payable 5,100
Total liabilities $32,600
Partners' Equity:
11 Tyler Lambert, Capital 177,565
12 Jayla Yost, Capital 124,535
Total equity $302,100
Total liabilities and equity $334,700
Explanation:
a) Data and Calculations:
Lambert and Yost
ADJUSTED TRIAL BALANCE
December 31, 20Y3
ACCOUNT TITLE DEBIT CREDIT
1 Cash 33,600
2 Accounts Receivable 47,500
3 Supplies 2,200
4 Land 119,500
5 Building 157,200
6 Accumulated Depreciation-Building 67,400
7 Office Equipment 63,800
8 Accumulated Depreciation-Office Equipment 21,700
9 Accounts Payable 27,500
10 Salaries Payable 5,100
11 Tyler Lambert, Capital 135,400
12 Tyler Lambert, Drawing 49,500
13 Jayla Yost, Capital 88,100
14 Jayla Yost, Drawing 59,900
15 Professional Fees 394,500
16 Salary Expense 155,000
17 Depreciation Expense-Building 15,600
18 Property Tax Expense 12,300
19 Heating and Lighting Expense 8,400
20 Supplies Expense 5,800
21 Depreciation Exp.-Office Equipment 5,300
22 Miscellaneous Expense 4,100
23 Totals 739,700 739,700
Rachel is a high school student who enjoys working with people. She prefers to avoid working with math and new technologies. She plans on earning a bachelor's in marketing to secure a high-paying position with the opportunity for career advancement. Which of the following careers should Rachel consider? A. Marketing research analyst B. Public relations manager C. Marketing data analyst D. Web developer
Answer:
B. Public relations manager
Explanation:
Answer:b. public relations manager
Explanation:a. p. e. x.
Select all of the expressions that are equal to 6 × 45.
6 × (40 + 5)
Answer: A. 6 × (40 + 5)
C. (6 × 40) + (6 × 5)
E. 6 × (20 + 25)
Explanation:
The options include:
A. 6 × (40 + 5)
B. 4 + 2 × 45
C. (6 × 40) + (6 × 5)
D. (6 + 40) × (6 + 5)
E. 6 × (20 + 25)
6 × 45 = 270
A. 6 × (40 + 5)
= 6 × 45
= 270
B. 4 + 2 × 45
= 4 + 90
= 94
C. (6 × 40) + (6 × 5)
= 240 + 30
= 270
D. (6 + 40) × (6 + 5)
= 46 × 11
= 506
E. 6 × (20 + 25)
= 6 × 45
= 270
Therefore, the correct options are A, C and E.
Consider the following accounts and determine if the account is a current liability, a noncurrent liability, or neither. A. Cash Neither B. Federal income tax payable this year Current liability C. Long-term note payable Noncurrent liability D. Current portion of a long-term note payable Current liability E. Note Payable due in four years Noncurrent liability F. Interest Expense Current liability G. State income tax Current liability
Answer:
A. Cash ⇒ Neither
Cash is a current asset not a liability at all.
B. Federal income tax payable this year ⇒ Current liability.
If a liability is to be paid within the current period then it is a current liability and as federal income tax payable is a liability and it is due this year, it is a current liability.
C. Long-term note payable ⇒ Noncurrent liability
If the liability is for more than the current period then it is a non-current liability.
D. Current portion of a long-term note payable ⇒ Current liability
The current portion of a long term note payable is due to be paid within current period so is a current liability.
E. Note Payable due in four years ⇒ Noncurrent liability
This is due for more than the current period so is a non-current liability.
F. Interest Expense ⇒ Neither
This is not a liability but an expense that goes to the income statement.
G. State income tax ⇒ Neither
This is not a liability either but an expense that goes to the income statement.
Samanderson, Inc. is in the business of selling ceramic bowls. It has two departments - molding and finishing. Molding department purchases tungsten carbide and produces ceramic bowls out of it. Ceramic bowls are then transferred to finishing department, which designs it as per the requirement of the customers. During the month of July, molding department purchased 650 kgs of tungsten carbide at $210 per kg. It started manufacture of 3,500 bowls and completed and transferred 3,200 bowls during the month. It has 300 bowls in the process at the end of the month. It incurred direct labor charges of $1,000 and other manufacturing costs of $600, which included electricity costs of $900. Stefan had no inventory of tungsten carbide at the end of the month. It also had no beginning inventory of bowls. The ending inventory was 55% complete in respect of conversion costs. Which of the following journal entries would be correct to record direct labor for July?
What is the total conversion costs for the month of July?
a. $1,700
b. $1,500
c. $1,300
d. $1,000
Answer:
Samanderson, Inc.
The total conversion costs for the month of July is:
= $2,500
Explanation:
a) Materials purchased, 650 kgs at $210 = $136,500
Units started 3,500
Units transferred out 3,200
Ending units 300 55% complete
Materials Conversion Total
Costs incurred $136,500 $2,500 $139,000
Equivalent units:
Units transferred out 3,200 3,200
Ending work in process 300 165
Total equivalent units 3,500 3,365
Cost per equivalent unit:
Materials Conversion
Costs incurred $136,500 $2,500
Total equivalent units 3,500 3,365
Cost per equivalent unit $39 $0.7429
Cost assigned to:
Units transferred out $124,800 (3,200 * $39) $2,377 (3,200 * 0.7429)
Ending work in process 11,700 (300 * $39) 123 (165 * 0.7429)
On Saturday, December 31, the company's owner provided ten hours of service to a customer. The company bills $100 per hour for services provided on weekends. Payment has not yet been received. The owner did not stop in the office on Saturday; as such, on December 31, the services were unbilled and unrecorded. Complete the necessary adjusting entry by selecting the account names and dollar amounts from the drop-down menus.
Answer:
Adjusting Entry
December 31, 2019:
Debit Accounts receivable $1,000
Credit Service Revenue $1,000
To record the provision of service to a customer for 10 hours by the owner.
Explanation:
a) Data and Analysis:
Accounts receivable $1,000 Service Revenue $1,000 ($100 * 10 hours)
b) The above transaction shows that service was rendered on account. This implies that the Accounts receivable will be debited while the Service revenue is credited with $1,000 respectively since payment has not yet been received by the company as at the adjustment date of December 31, 2019.
What are the different types of discrimination
Answer:
There are a lot of differnet ways here
Age Discrimination.
Disability Discrimination.
Sexual Orientation.
Status as a Parent.
Religious Discrimination.
National Origin.
Sexual Harassment.
Race, Color, and Sex.
Explanation:
Hope this Helped!!!!!!!!
Bens Corporation has three service departments (Repairs, HR, and IT) and two production departments (M1 and M2). The following usage data for each of the service departments for the previous period follow.
Repairs HR IT M1 M2
Repairs _____ 0% 0% 40% 60%
HR 10% _____ 20% 35% 35%
IT 0% 10% ____ 20% 70%
The direct costs of the service departments in the previous period were $36,000 for Repairs, $55,600 for HR, and $81,000 for IT.
Required:
Use the step method to allocate the service department costs to the production departments. Allocate HR costs first, followed by IT, and then Repairs
Answer:
Bens Corporation
Allocation of Service Departments' Direct Costs:
Repairs HR IT M1 M2 Total
Direct costs $36,000 $55,600 $81,000 $172,600
Step allocation:
HR direct costs 5,560 -55,600 11,120 19,460 19,460 0
IT costs 0 0 -92,120 20,471 71,649 0
Repairs costs -41,560 0 0 16,624 24,936 0
Total costs allocated 0 0 0 $56,555 $116,045 $172,600
Explanation:
a) Data and Calculations:
Usage data:
Repairs HR IT M1 M2
Repairs 0% 0% 40% 60%
HR 10% __ 20% 35% 35%
IT 0% 10% __ 20% 70%
HR Costs = $55,600:
Repairs = $5,560 ($55,600 * 10%)
IT = $11,120 ($55,600 * 20%)
M1 = $19,460 ($55,600 * 35%)
M2 = $19,460 ($55,600 * 35%)
IT costs = $92,120:
Repairs = $0 ($92,120 * 0%)
M1 = $20,471 ($92,120 * 20/90)
m2 = $71,649 ($92,120 * 70/90)
Repair costs = $41,560:
M1 = $16,624 ($41,560 * 40%)
M2 = $24,936 ($41,560 * 60%)
Answer:
HR allocation:
$3,960 = 0.10 × $39,600
$7,920 = 0.20 × $39,600
$13,860 = 0.35 × $39,600
$13,860 = 0.35 × $39,600
IT allocation:
$52,920 cost of IT is $45,000 (direct cost) + $7,920 (allocated from HR)
$11,760 = 0.2 × $52,920
(0.2 + 0.7)
$41,160 = 0.7 × $52,920
(0.2 + 0.7)
Repairs allocation:
$23,960 cost of Repair is $20,000 (direct cost) + $3,960 (allocated from HR)
$9,584 = 0.40 × $23,960
$14,376 = 0.60 × $23,960
A The following section is taken from Blossom's balance sheet at December 31, 2021.
Current liabilities Interest payable $ 46,000 Long-term liabilities Bonds payable (9%, due January 1, 2025) 560,000
Interest is payable annually on January 1. The bonds are callable on any annual interest date.
(a) Journalize the payment of the bond interest on January 1, 2022.
(b) Assume that on January 1, 2022, after paying interest, Blossom calls bonds having a face value of $155,000. The call price is 110. Record the redemption of the bonds.
(c) Prepare the adjusting entry on December 31, 2022, to accrue the interest on the remaining
Answer:
Date Account titles and explanation Debit Credit
1-1-21 Bond interest payable $46,000
Cash $46,000
(To record payment of interest)
1-1-21 Bond payable $155,000
Loss on redemption bond $15,500
(155,000/100*10)
Cash $170,500
(To record bond redemption)
31-1-21 Interest expenses $36,450
Bond interest expenses $36,450
(560,000-155,000)*9%
(Adjusting entry to accrue the interest on the remaining)
Cantor Corporation acquired a manufacturing facility on four acres of land for a lump-sum price of $8,500,000. The building included used but functional equipment. According to independent appraisals, the fair values were $4,800,000, $3,600,000, and $3,600,000 for the building, land, and equipment, respectively. The initial values of the building, land, and equipment would be: Building Land Equipment a. $ 4,800,000 $ 3,600,000 $ 3,600,000 b. $ 4,800,000 $ 3,600,000 $ 600,000 c. $ 3,400,000 $ 2,550,000 $ 2,550,000 d. None of these answer choices are correct.
Answer:
C.$3,400,000; $2,550,000; $2,550,000
Explanation:
Calculation to determine what The initial values of the building, land, and equipment would be
First step is to calculate the formula Total fair value using this formula
Total fair value = Building + Land + Equipment
Let plug in the formula
Total fair value = $4,800,000 + $3,600,000 + $3,600,000
Total fair value = $12,000,000
Now let calculate the initial values of the building, land, and equipment
Using this formula for BUILDING
Building= Total cost of acquisition × (Fair value of building ÷ Total fair value)
Let plug in the formula
Building= $8,500,000 × ($4,800,000 ÷ $12,000,000)
Building= $8,500,000 × 0.4
Building= $3,400,000
Using this formula for LAND
Land = Total cost of acquisition × (Fair value of land ÷ Total fair value)
Let plug in the formula
Land= $8,500,000 × ($3,600,000 ÷ $12,000,000)
Land= $8,500,000 × 0.3
Land= $2,550,000
Using this formula for EQUIPMENT
Equipment= Total cost of acquisition × (Fair value of Equipment ÷ Total fair value)
Let plug in the formula
Equipment= $8,500,000 × ($3,600,000 ÷ $12,000,000)
Equipment= $8,500,000 × 0.3
Equipment= $2,550,000
Therefore The initial values of the building, land, and equipment would be:$3,400,000; $2,550,000; $2,550,000
Why does a country need fewer banks
Answer:
Explanation:
Despite the consolidation of the sector, authorities will not refrain from issuing new licences. Instead, they are expected to continue granting new banking licences in the future. That said, we can also expect more mergers and acquisitions in the sector as experts predict the consolidation will continue in the coming years.
According to the Central Bank of Kenya, banks that will embrace innovation and adopt new technologies will have unprecedented opportunities to change and improve how they provide financial services and products. At the same time, they must manage the risks created by the new digital economy,
The Kenya Bankers Association’s State of the Banking Industry report 2019 revealed that financial technology is increasingly changing the shape of the banking industry in the sense that competition in the provision of financial services is well beyond the formal regulated institutions.
It further states that new entrants with digital prowess will gain prominence, while many incumbent lenders will be forced to alter their strategies to compete. There will be greater industry fragmentation and blurring of industry boundaries, with financial services increasingly offered by an emerging breed of nonbanks.
Richard Njoroge told International Finance, “Consolidation can be regulator driven, such as through requirements for higher capital levels as was the case in Nigeria, or market-driven. Attempts by the regulator in the past to increase the level of minimum capital have not gone far as these proposals have been blocked in Parliament. In my view consolidation will be driven by business imperatives, which make it difficult for banks below a certain scale to be competitive. Consolidation has taken a while, but we are already seeing this starting to happen. I expect that we will have fewer banks in 10 years’ time.”
A firm has $42,900 in receivables and $211,800 in total assets. The total asset turnover rate is 1.40 and the profit margin is 5.2 percent. How long on average does it take the firm to collect its receivables
Answer:
52.81 days
Explanation:
First, we need to calculate sales
Asset turnover rate = Net sales / Total asset
Asset turnover = 1.40
Total assets = $211,800
Net sales = x
1.40 = x / $211,800
x = $211,800 × 1.40
x = $296,520
Net sales = $296,520
Therefore, number of receivable days
= Account receivables / Sales (revenue)
= $42,900 / $296,520 × 365 days
= 52.81 days
Please help with the following question.
Answer:i dont really know
Explanation:
The comparative balance sheets for Concord Corporation as of December 31 are presented below.
Concord Corporation
Comparative Balance Sheets
December 31
Assets 2021 2022
Cash 1959,840 $39,600
Accounts receivable 44,000 51,040
Inventory 133,276 124,960
Prepaid expenses 13,446 18,480
Land 127,600 114,400
Buildings 176,000 176,000
Accumulated depreciation-buildings (52,800) (35,200)
Equipment 198,000 136,400
Accumulated depreciation-equipment (39,600) (30,800)
Total $659,762 $594,880
Liabilities and Stockholders' Equity
Accounts payable $39,362 $31,680
Bonds payable 264,000 264,000
Common stock, $1 par 176,000 140,800
Retained earnings 180,400 158,400
Total $659,762 $594,880
Additional information:
1. Operating expenses include depreciation expense of $36,960 ($17,600 of depreciation expense for buildings and $19,360 for equipment).
2. Land was sold for cash at book value.
3. Cash dividends of $10,560 were paid.
4. Net income for 2022 was $32,560.
5. Equipment was purchased for $80,960 cash. In addition, equipment costing $19,360 with a book value of $8,800 was sold for $7,040 cash.
6. 35,200 shares of $1 par value common stock were issued in exchange for land with a fair value of $35,200.
Prepare a statement of cash flows for the year ended December 31, 2022, using the indirect method.
Answer:
Concord Corporation
Concord Corporation
Statement of Cash Flows for the year ended December 31, 2022
Operating activities:
Net income $32,560
add Depreciation 36,960
Loss from sale of equipment 1,760
Changes in working capital:
Accounts receivable 7,040
Inventory -8,316
Prepaid expenses 5,034
Accounts payable 7,682
Net cash from operations $82,720
Investing activities:
Sale of equipment $7,040
Sale of land 22,000
Purchase of equipment -80,960
Net cash from investments -$51,920
Financing activities:
Dividends payment -10,560
Net cash flows $20,240
Reconciliation:
Beginning cash balance $39,600
Net cash flows $20,240
Ending cash balance $59,840
Explanation:
a) Data and Calculations:
Concord Corporation
Comparative Balance Sheets
December 31
Assets 2022 2021 Changes
Cash $59,840 $39,600 +$20,240
Accounts receivable 44,000 51,040 -7,040
Inventory 133,276 124,960 +8,316
Prepaid expenses 13,446 18,480 -5,034
Land 127,600 114,400 +13,200
Buildings 176,000 176,000 0
Accumulated depreciation
-buildings (52,800) (35,200) (17,600)
Equipment 198,000 136,400 +61,600
Accumulated depreciation
-equipment (39,600) (30,800) (8,800)
Total $659,762 $594,880
Liabilities and Stockholders' Equity
Accounts payable $39,362 $31,680 +$7,682
Bonds payable 264,000 264,000 0
Common stock, $1 par 176,000 140,800 +35,200
Retained earnings 180,400 158,400 +22,000
Total $659,762 $594,880
Additional information:
1. Depreciation $36,960
($17,600 of depreciation expense for buildings and $19,360 for equipment)
2. Sale of land at $22,000
3. Cash dividends paid $10,560
4. Net income for 2022 $32,560
5. Equipment purchase $80,960
Equipment sales $7,040
Loss from sale $1,760
Accumulated Depreciation $10,560
Equipment
Account Titles Debit Credit
Beginning balance 136,400
Cash 80,960
Sale of equipment 19,360
Ending balance 198,000
Sale of Equipment
Account Titles Debit Credit
Equipment 19,360
Accumulated depreciation 10,560
Cash 7,040
Loss from Sale of Equipment 1,760
6. Land $35,200 Common stock $35,200
Land
Account Titles Debit Credit
Beginning balance 114,400
Common stock 35,200
Cash 22,000
Ending balance 127,600
Barton's Taco Tico has four taco makers and ten other employees who take orders from customers and perform other tasks. The four taco makers and the other employees are paid an hourly wage. How would one classify (1) the wages paid to the taco makers and other employees and (2) materials (e.g., cheeses, salsa, tomatoes, lettuce, taco shells, etc.) used to make the tacos
Answer:
Barton's Taco Tico
1. The wages paid to the taco makers and other employees are variable costs.
2. The cost of materials are also variable costs.
Explanation:
Variable costs vary in total but remain fixed per unit. For example, the wages paid to the workers have a fixed rate. Therefore, the total will vary, depending on the total hours worked by each worker. Similarly, the costs of materials vary in total, but the price per material may be relatively fixed.
Grocery Corporation received $301,232 for 14.00 percent bonds issued on January 1, 2018, at a market interest rate of 11.00 percent. The bonds had a total face value of $256,000, stated that interest would be paid each December 31, and stated that they mature in 10 years. Assume Grocery Corporation uses the effective-interest method to amortize the bond premium.
Required:
Prepare the required journal entries to record the bond issuance and the first interest payment on December 31.
Answer:
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Your company, ImSecure Inc., is a security investigation firm. You have been contacted by Darling Company, a producer of cardstock for greeting card companies like Hallmike and Birthday Wishes Company. Darling currently requires orders to be placed several weeks in advance of the delivery date. Orders come in through traditional channels (account reps, paper forms, etc.). Hallmike, Darling’s largest client, now requires Darling to use e-commerce for order transmission and payment. Because of this new change, Darling is considering moving all of its clients to EDI for orders and payments.
Required:
Detail the new opportunities e-commerce solutions like EDI present for internal and external perpetrators trying to defraud Darling Company.
Clampett, Incorporated, has been an S corporation since its inception. On July 15, 2021, Clampett, Incorporated, distributed $50,000 to J.D. His basis in his Clampett, Incorporated, stock on January 1, 2021, was $30,000. For 2021, J.D. was allocated $10,000 of ordinary income from Clampett, Incorporated, and no separately stated items. What is J.D.'s basis in his Clampett, Incorporated, stock after all transactions in 2021
Answer:
$10,000
Explanation:
Calculation to determine J.D.'s basis in his Clampett, Incorporated, stock after all transactions in 2021
Using this formula
J.D.'s basis =Original basis+Increase in basis from his distributive share of income- Distribution
Let plug in the formula
J.D.'s basis = ($30,000 + $10,000 - $50,000) J.D.'s basis =$10,000
Therefore J.D.'s basis in his Clampett, Incorporated, stock after all transactions in 2021 is $10,000