Pleaseeeee helppppp!!!!

Pleaseeeee Helppppp!!!!

Answers

Answer 1

Answer:

they are interns hope it help

Answer 2
They are interns because they follow people around to gain real life experience and instead of money it’s for college points.

Related Questions

Leslie's Unique Clothing Stores offers a common stock that pays an annual dividend of $3.00 a share. The company has promised to maintain a constant dividend. How much are you willing to pay for one share of this stock if you want to earn a return of 15.80 percent on your equity investments

Answers

Answer:

You are willing to pay $18.99 for one share of this stock.

Explanation:

This can be calculated using the following formula:

P = d / r .............................. (1)

Where;

P = price per share = ?

d = annual dividend per share = $3.00

r = equity investments return = 15.80%, or 0.1580

Substituting the values into equation (1), we have:

P = $3.00 / 0.1580

P = $18.99

Therefore, you willing to pay $18.99 for one share of this stock.

Identify what type of unemployment each of the individuals faces.
1. James is an architect who has been laid off owing to a slump in the demand for property. He feels he will have to wait until the economy picks up before he can get a new job. James is facing Eric is an experienced project manager who lost his job at a tech start-up because the company's product failed to become popular. He is confident he can get a new job and has already rejected a number of offers.
2. Eric is facing Craig lost his job several months ago. He is having a hard time finding a job that pays him more than unemployment insurance does.
3. Craig is facing Sarah is a recent economics graduate who is entering a difficult labor market, due to a severe recession. She is continuing to look for work but is having a hard time getting interviews.
4. Sarah is facing Hamid has just graduated as a lawyer from an esteemed law school. He is confident of getting a job and has already refused a few lower‑paying jobs.
5. Hamid has just graduated as a lawyer from an esteemed law school. He confident of getting a job and has already refused a few lower paid jobs.

Answers

Answer:

1.James - CYCLICAL UNEMPLOYMENT

Eric frictional unemployment

2.Craig -  structural unemployment

3. Sarah cyclical unemployment

4. Hamid - frictional unemployment.

Explanation:

structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition . Structural unemployment tends to be permanent.  

Frictional unemployment . the period of time a person is unemployed from the period he leaves his current job and the time he gets another job.  

Voluntary unemployment : e.g. worker at a fast-food restaurant who quits work and attends college.

Cyclical unemployment : it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom  

A company produces a product with variable costs of $2.50 per unit. The product sells for $5.00 per unit. The company has fixed costs of $3,000 and desires a target income of $10,000. The sales level in dollars to achieve the desired target income is $ .

Answers

Answer:Break-even point (dollars)= $26,000

Explanation:

Answer:

3000 esta es la respuesta

Managers need to understand how information flows within the organization, how their organization interacts with other organizations, and how the various parts of the organization interact with one another.


True

False

Answers

The answer to this question is False:)

Who is more likely to object to a proposed 1 percentage point increase in the city sales tax—the owner of a local liquor store or the owner of a local video rental store? Why?

Answers

Answer:

The owner of a local liquor store.

Explanation:

Rentals are not taxed in some places.

Your employer, Pointer Media Group of Columbus, Ohio, has had an excellent year, and the CEO, Jeremy Pointer, would like to reward the troops for their hard work with a rustic yet plush winter retreat. The CEO wants his company to host a four-day combination conference/retreat/vacation for his 55 marketing and media professionals with their spouses or significant others at some spectacular winter resort.
One of the choices is Vail, Colorado, a famous ski resort town with steep slopes and dramatic mountain views. As you investigate the options in Vail, you are captivated by the Four Seasons Resort and Residences Vail, a five-star property with an outdoor pool, indoor and outdoor hot tubs, ski-in/ski-out access, a ski concierge, two acclaimed gourmet restaurants, and an amply equipped gym and fitness center. Other amenities include an on-site spa with massage and treatment rooms, a sauna, and facial and body treatments. Bathrooms feature separate bathtubs and showers, double sinks, and bathrobes. For business travelers, the hotel offers complimentary wired high-speed Internet access, complimentary wireless Internet access, and multiline phones as well as the use of two desktop computers.
The website of the Four Seasons Resort and Residences Vail is not very explicit on the subject of business and event facilities, so you decide to jot down a few key questions. You estimate that your company will require about 50 rooms. You will also need two conference rooms (to A/V equipment in the conference rooms, Internet access, and entertainment options for families. You have two periods that would possible: December 16-20 or January 13-17, You realize that both are peak times, but you wonder whether you can get a discounted accommodate 25 participants or more) for one and a half days. You want to know about room rates, conference facilities, You are interested in entertainment in Vail, and in tours to the nearby national parks. Eagle County Airport is 36 miles away rou and you would like to know whether the hotel operates a shuttle. Also, one evening the CEO will want to host a banquet for about 85 people. Mr. Pointer wants a report from you by September 13.
Your Task: Write a well-organized direct request letter or e-mail to Kiersten Dunn, Sales Manager, Four Seasons Resort and Resi dences Vail, One Vail Road, Vail, Co 81657.

Answers

Answer:

Answer is explained in the explanation section below.

Explanation:

Solution:

28 February, 2021

Kiersten Dunn,

Sales Manager,

Four Seasons Resort and Residence Vail,

One Vail Road, Vail,

Co 81657

Subject: Information on 50 rooms and two conference halls that are required for a four-day official retreat.

Dear Kierstenn,

Our Columbus, Ohio-based business, Pointer Media Group, is planning an official retreat in Vail. We liked your property a lot and think it's a good match for our needs. We're looking for dates between December 16 and 20, 2018 and January 13 and 17, 2018. Please share your availability based on our requirements so that we can schedule the retreat.

The retreat will last for four days. There will be some official conference meetings followed by enjoyable activities at the retreat.

Kindly mention the details about your resort as follows:

Availability of 50 rooms and 2 conference halls on the designated date:

Seating capacity of the conference halls:

Room rates and packages offered:

Services offered:

Availability of A/V equipment in conference room:

Access to Internet:

Availability of DVD player/recreation facilities:

Mode of payment accepted:

Toiletries provided:

Corporate discount offered, if any:

We eagerly await your prompt response on this matter. If you need any additional details, please contact us.

Sincerely,

Lily Sethi

HR, Pointer Media Group

Information concerning a product produced by Ender Company appears here: Sales price per unit $ 164 Variable cost per unit $ 94 Total annual fixed manufacturing and operating costs $ 434,000 Required Determine the following: Contribution margin per unit. Number of units that Ender must sell to break even. Sales level in units that Ender must reach to earn a profit of $182,000. Determine the margin of safety in units, sales dollars, and as a percentage.

Answers

Answer:

Results are below.

Explanation:

To calculate the unitary contribution margin, we need to use the following formula:

Contribution margin= selling price - unitary variable cost

Contribution margin= 164 - 94

Contribution margin= $70

Now, to determine the break-even point in units and sales dollars, we need to use the following formulas:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 434,000 / 70

Break-even point in units= 6,200

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 434,000 / (70 / 164)

Break-even point (dollars)= $1,016,800

The desired profit is $182,000:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (434,000 + 182,000) / 70

Break-even point in units= 8,800

Finally, the margin of safety in units, sales dollars, and as a percentage:

Margin of safety (units)= (current sales level - break-even point)

Margin of safety (units)= 8,800 - 6,200

Margin of safety (units)= 2,600

Margin of safety (dollars)= (8,800*164) - 1,016,800

Margin of safety (dollars)= $426,400

Margin of safety ratio= (current sales level - break-even point)/current sales level

Margin of safety ratio= 426,400 / 1,443,200

Margin of safety ratio= 0.295

Hyde Boats purchased machinery on January 1 at a list price of $295,000, with credit terms 3/10, n/30. Payment was made within the discount period. Hyde Boats paid $17,700 sales tax on the machinery, and paid installation charges of $3,900. Hyde Boats also paid $15,900 to pour a concrete base that was necessary to place the machinery in service.
What is the total cost of the new machinery?
A. $332.500
B. $323.650
C. $307.750
D. $319.750

Answers

Answer:

Total purchase price= $323,650

Explanation:

Giving the following information:

Purchase price= $295,000

Installation= $3,900

Concrete for installation= $15,900

The total cost of the machine includes the purchase price and all costs required to put it into operation. Taxes are part of the purchase cost.

First, we need to calculate the net cash discount:

Net discount= 295,000 * 0.03= $8,850

Now, the total purchase price:

Total purchase price= (295,000 - 8,850) + 17,700 + 3,900 + 15,900

Total purchase price= $323,650

What is a transition?
A. An animation that happens on a single slide
B. An outline format that uses roman numerals
C. An image file imported to a title slide
D. An effect that happens between slides

Answers

Answer:

d

Explanation:

i jus answered it

Answer:

d

Explanation:

i just took the test

A privately owned summer camp for youngsters has the following data for a 12-week session: Charge per camper Fixed costs Variable cost per camper Capacity $480 per week $192,000 per session $320 per week 200campers (a) Develop the mathematical relationships for total cost and total revenue. (b) What is the total number of campers that will allow the camp to just break even

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $192,000

Unitary variable cost= $320 per week

Selling price per unit= $480 per week

To calculate the total cost, we need to use the following formula:

Total cost= fixed costs + unitary variable cost*number of units

Total cost= 192,000 + 320*number of weeks

Now, the total revenue:

Total revenue= selling price per week*Number of weeks

Total revenue= 480*x

Finally, the break-even point in units:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 192,000 / (480 - 320)

Break-even point in units= 1,200 campers

Windsor, Inc. just began business and made the following four inventory purchases in June:
June 1 129 units $890 June 10 172 units 1340 June 15 172 units 1440 June 28 129 units 1140 $4810
A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 180 units on hand. The inventory method which results in the highest gross profit for June is:_______.
a. the FIFO method.
b. the LIFO method.
c. the average cost method.
d. not determinable.

Answers

Answer:

c. the average cost method.

Explanation:

Windsor INC. purchased inventory during the month of June as follows:

June 1 129 units at $890

June 10 172 units at $1340

June 15 172 units at $1440

June 28 129 units at $ 1140

and at the end of the period, there are 180 units on hand.

In order to get highest gross profit the closing sock should be the highest, accordingly the value of inventory at hand should as as follows under different method explain below:

Under FIFO method the inventory first enter into the enterprise is available for sale at first so the inventory of 180 units at end should be values at the last price mentioned in the question i.e $1140, therefore the value amounts to $1140*180 units=$205200

Under LIFO method, likewise the last entered inventory will be available for sale and the inventory at the end of period will be valued at the price at which the inventory first bought i.e $890, therefore the value amounts to 180 units*$890=$160200

Under Average cost method the effect of differential price is distributed over the quantity bough during a period so that the company remains in ineffective condition during the period from the price change

Average cost per unit= (129*$890 +172*$1340+ 172*$1440+129*$1140)/602 units

=$1229.29

and for the 180 units the value amounts to 180*$122.29=$221271.429

so, as per explanation given above, it is certain that the highest value will be in average cost method.

The correct option is - c. the average cost method.

Projects A and B are mutually exclusive. Project A has cash flows of −$10,000, $5,100, $3,400, and $4,500 for Years 0 to 3, respectively. Project B has cash flows of −$10,000, $4,500, $3,400, and $5,100 for Years 0 to 3, respectively. What is the crossover rate for these two projects?Projects A and B are mutually exclusive. Project A has cash flows of −$10,000, $5,100, $3,400, and $4,500 for Years 0 to 3, respectively. Project B has cash flows of −$10,000, $4,500, $3,400, and $5,100 for Years 0 to 3, respectively. What is the crossover rate for these two projects?

Answers

Is that the subject math?

On January 1, 2020, Castaway Corp. issued 5,000 shares of preferred stock ($15 par value) at $45 per share. Each share of preferred stock is redeemable at the option of the stockholder at $45 per share. On September 1, 2020, preferred shareholders holding 1,000 shares of preferred stock redeemed their stock.
The entry recorded by Castaway Corp. on September 1, 2020, would include the following:
A. No net change to stockholdersâ equity.
B. A decrease to retained earnings for $5,000.
C. A decrease to assets for $45,000.
D. No net change to preferred stock outstanding.

Answers

Answer: C. A decrease to assets for $45,000.

Explanation:

When shareholders redeem their stock, the company pays them for the redeemed stock at a certain price which in this case is $45.

The total cost of redemption is therefore:

= 45 * 1,000

= $45,000

The company uses cash to pay for this which is an asset. Assets will therefore reduce by $45,000 which is the amount of cash paid.

Assume that Amazon has a stock-option plan for top management. Each stock option represents the right to purchase a share of Amazon $1 par value common stock in the future at a price equal to the fair value of the stock at the date of the grant. Amazon has 4,900 stock options outstanding, which were granted at the beginning of 2020. The following data relate to the option grant. Exercise price for options $39 Market price at grant date (January 1, 2020) $39 Fair value of options at grant date (January 1, 2020) $6 Service period 5 years. The following data relate to the option grant.

Exercise price for options $38
Market price at grant date (January 1, 2017) $38
Fair value of options at grant date (January 1, 2017) $6
Service period 5 years

Required:
a. Prepare the journal entries for the first year of the stock-option plan.
b. Prepare the journal entries for the first year of the plan assuming that, rather than options, 700 shares of restricted stock were granted at the beginning of 2017.

Answers

Answer:

A. 1/1/2020

No entry

12/31/2020

Dr Compensation Expense $5,880

Cr Paid-in Capital—Stock Options $5,880

B. 1/1/2020

Dr Unearned Compensation $26,600

Cr Common Stock $700

Cr Paid-in Capital in Excess of Par $25,900

12/31/2020

Dr Compensation Expense $5,320

Cr Unearned Compensation $5,320

Explanation:

A. Preparation of the journal entries for the first year of the stock-option plan.

1/1/2020

No entry

12/31/2020

Dr Compensation Expense $5,880

($6 X 4,900 ÷ 5)

Cr Paid-in Capital—Stock Options $5,880

B. Preparation of the journal entry (ies) for the first year of the plan assuming that 700 shares of restricted stock were granted at the beginning of 2020.

1/1/2020

Dr Unearned Compensation $26,600

($38 X 700)

Cr Common Stock $700

($1 X 700)

Cr Paid-in Capital in Excess of Par $25,900

($26,600-$700)

12/31/2020

Dr Compensation Expense $5,320

($26,600 ÷ 5)

Cr Unearned Compensation $5,320

Harvey Hotels has provided a defined benefit pension plan for its employees for several years. At the end of the most recent year, the following information was available with regard to the plan: service cost: $6.4 million, expected return on plan assets: $1.4 million, actual return on plan assets: $1.2 million, interest cost: $1.6 million, payments to retired employees: $2.2 million, and amortization of prior service cost (created when the pension plan was amended causing a drop in the projected benefit obligation): $1.3 million. What amount should Harvey Hotels report as pension expense in its income statement for the year

Answers

Answer:

$7.9 million

Explanation:

Calculation to determine What amount should Harvey Hotels report as pension expense in its income statement for the year

Service cost $6.4 million

Interest cost $1.6million

Expected return on plan assets($1.4million)

Amortization of prior service cost $1.3million

Pension expense $7.9million

Therefore The amount that Harvey Hotels Should report as pension expense in its income statement for the year is $7.9million

Lonergan Company occasionally uses its accounts receivable to obtain immediate cash. At the end of June 2021, the company had accounts receivable of $920,000. Lonergan needs approximately $570,000 to capitalize on a unique investment opportunity. On July 1, 2021, a local bank offers Lonergan the following two alternatives:
A. Borrow $570,000, sign a note payable, and assign the entire receivable balance as collateral. At the end of each month, a remittance will be made to the bank that equals the amount of receivables collected plus 10% interest on the unpaid balance of the note at the beginning of the period.
B. Transfer $620,000 of specific receivables to the bank without recourse. The bank will charge a 3% factoring fee on the amount of receivables transferred. The bank will collect the receivables directly from customers. The sale criteria are met.
Required:
1. Prepare the journal entries that would be recorded on July 1 for:
a. alternative a.
b. alternative b.
2. Assuming that 70% of all June 30 receivables are collected during July, prepare the necessary journal entries to record the collection and the remittance to the bank for:____.
a. alternative a.
b. alternative b.

Answers

Answer:

1.

ALTERNATIVE A

01-Jul

Dr Cash $570,000

Cr Notes Payable $570,000

ALTERNATIVE B

01-Jul

Dr Cash 601,400

Dr Loss on sale of receivables $18,600

Cr Accounts Receivables $620,000

2.

ALTERNATIVE A

Dr Cash $644,000

Cr Notes Payable $644,000

Dr Interest Expense $4,750

Dr Notes Payable 570,000

Cr Cash 574,750

ALTERNATIVE B

Dr Cash $210,000

Cr Accounts Receivable $210,000

Explanation:

1. Preparation of the journal entries that would be recorded on July 1 for alternative a and

alternative b.

ALTERNATIVE A

01-Jul

Dr Cash $570,000

Cr Notes Payable $570,000

(Notes payable collected)

ALTERNATIVE B

01-Jul

Dr Cash 601,400

($620,000-$18,600)

Dr Loss on sale of receivables $18,600 (3%*$620,000)

Cr Accounts Receivables $620,000

(Remittance to bank)

2. Preparation of the necessary journal entries to record the collection and the remittance to the bank for alternative a and

alternative b.

ALTERNATIVE A

Dr Cash (920,000 x 70%) $644,000

Cr Notes Payable $644,000

Dr nterest Expense($570,000 x 10%x 1/12) $4,750

Dr Notes Payable 570,000

Cr Cash 574,750

($570,000+$4,750)

ALTERNATIVE B

Dr Cash [ (920,000 -620,000)x 70%] $210,000

Cr Accounts Receivable $210,000

If a clothing manufacturer purchased a computerized sewing machine from an American company, then consumer spending and GDP both increase. investment and GDP both increase. consumer spending increases and GDP decreases. investment increases and GDP decreases. consumer spending and investment both increase.

Answers

Answer:

Investment and GDP both increase.

Explanation:

GDP(Gross Domestic Product)can be regarded as the overall value of goods/services that is been manufactured arround geographic boundaries of a particular country at a particular period of time ( year). It gives indication of economics performance. Invest can be regarded as item/asste gotten with hope of giving income to the owner. Hence, from the question, If a clothing manufacturer purchased a computerized sewing machine from an American company, then Investment and GDP both increase.

the path a product takes from product to final user is called what?

Answers

Answer:

distribution channel

Explanation:

A marketing channel consists of the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer; and is also known as a distribution channel.

Find the sum of the series 2 + 5 + 8 + ... + 182

Answers

Maybe you need to divide or subtract something

Answer:

first term(a)=2

common diff.(d)=5-2=3

lqst term(l)=182

sum of terms (sn)=?

Explanation:

we have,

l=a+(n-1)d

182=2+(n-1)×3

182-2=3n-3

180=3n-3

180-3=3n

177=3n

177÷3=n

59=n

n=59

i hope this solve help you

Statute of frauds is used as a defense to a lawsuit and not as an offense. For example, S owns a lot that B wishes to purchase. They enter into a verbal contract whereby B will deliver $6,000 at noon on Friday to S, and S will provide B with the deed to the property. If either party breaches the contract for the sale of the real estate lot and is sued by the other party, the defendant may raise statute of frauds as a defense, saying that there is nothing in writing or signed by the defendant.

Required:
What is the result?

Answers

Answer:

Since both parties can breach the contract without fearing any penalty as a result of doing it, its execution will depend on the good will of both parties. It will also require a coordinated action where B hands out the money at the same time they are receiving the deed. If both things do not occur simultaneously, for example, S promises to deliver the deed the next day or B promises to pay the next day, they will not do it. For example, B pays the $5,000 and S decides to increase the price to $10,000. Or S gives the deed and B says that the agreed price was $1,000.

36) All of the following are true of the number of days' sales uncollected ratio except: A) Can be used for comparisons between current and prior periods. B) Reflects the liquidity of receivables. C) Is most effective in evaluating the cash sales of a company. D) Measures how much time is likely to pass before the current amount of accounts receivable is received in cash. E) Can be used for comparisons to other companies in the same industry.

Answers

Answer:

C) Is most effective in evaluating the cash sales of a company.

Explanation:

A number of days' sales uncollected ratio can be defined as a liquidity ratio that is typically used by investors and creditors to determine or ascertain the number of days left to obtain all account receivable. Thus, it measures the amount of days left for a debtor to pay a credit.

All of the following are true of the number of days' sales uncollected ratio;

I. Can be used for comparisons between current and prior periods.

II. Reflects the liquidity of receivables.

III. Measures how much time is likely to pass before the current amount of accounts receivable is received in cash.

IV. Can be used for comparisons to other companies in the same industry.

Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information for its year ended December 31, 2020. Inventory Quantity Unit Cost Unit NRV Furniture 200 $85 $100 Electronics 50 $400 $300 Calculate the value of Home Furnishings ending inventory using their methodology described above.

Answers

Answer:

1.$37,000

2.$32,000/

Explanation:

1. Calculation to the Cost of ending inventory before any adjustment

Inventory Quantity Unit Cost Total cost

Furniture 200* $85 = $17,000

Electronics 50* $400= $20,000

Cost of ending inventory before any adjustment =$37,000

Therefore the Cost of ending inventory before any adjustment will be $37,000

2. Calculation to determine the ending inventory using the lower of cost and net realizable value.

Inventory Quantity Unit NRV

Furniture 200* $100 =$20,000

Electronics 50* $300= $15,000

Total cost of ending inventory using lower of cost and net realizable value (NRV) $32,000

Therefore the ending inventory using the lower of cost and net realizable value will be $32,000

Practice Brief Exercise 02 Swifty Corporation has 44,000 shares of $10 par value common stock outstanding. It declares a 10% stock dividend on December 1 when the market price per share is $19. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend.

Answers

Answer:

Dec-31

Dr Stock Dividend $83,600

Cr Stock Dividend Distributable $44,000

Cr Paid - in - capital in excess of Par (44,000 * m

Dec-31

Dr  Stock Dividend Distributable $44,000

Cr Common stock  $44,000

Explanation:

Preparation of  the entries for the declaration and issuance of the stock dividend

Dec-31

Stock Dividend $83,600

(44,000*  10% * $19)  

Cr Stock Dividend Distributable $44,000

($44,000 *10% *$10)  

Cr Paid - in - capital in excess of Par (44,000 * 10% *$9)  $39,600

($19+$10=$9)

(Being to record Stock dividend declared)  

Dec-31

Dr  Stock Dividend Distributable $44,000

Cr Common stock  $44,000

(Being to record issuance of the stock dividend)

Litton Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April for all of the jobs were 4,780. If the actual factory overhead totaled $141,800, determine the over- or underapplied amount for the month.

Answers

Answer:

Overapplied overhead= $7,575

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= 1,250,000 / 40,000

Predetermined manufacturing overhead rate= $31.25 per machine hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 31.25*4,780

Allocated MOH= $149,375

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 141,800 - 149,375

Overapplied overhead= $7,575

Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2021, 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 $4,660,000. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows:


At 12-31-2021 At 12-31-2022 At 12-31-2023
Percentage of completion 10% 60% 100%
Costs incurred to date $370,000 $2,982,000 $5,031,000
Estimated costs to complete 3,330,000 1,988,000 0
Billings to Axelrod, to date 731,000 2,390,000 4,660,000

Required:
a. Compute gross profit or loss to be recognized as a result of this contract for each of the three years.
b. 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.
c. 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 2021 and 2022 as either cost in excess of billings or billings in excess of costs.

Answers

Answer:

Explanation:

Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2021, 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 $4,420,000. Curtiss concludes that the contract does not qualify for revenue recognition over time. The building was completed on December 31, 2023. Estimated percentage of completion, accumulated contract costs incurred, estimated costs to complete the contract, and accumulated billings to Axelrod under the contract were as follows: Percentage of completion Costs incurred to date Estimated costs to complete Billings to Axelrod, to date At 12-31-2021 At 12-31-2022 At 12-31-2023 10% 60% 100% $ 366,000 $2,814,000 $4,747,000 3, 294,000 1,876,000 727,000 2,310,000 4,420,000

Required:

1. Compute gross profit or loss to be recognized as a result of this contract for each of the three years.

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 2021 and 2022 as either cost in excess of billings or billings in excess of costs.

Describe good cash management practices involving inventory purchases. (Check all that apply.) Multiple select question. Buyers should take advantage of early payment discounts. Inventory should be purchased with cash whenever possible. Invoices should be paid on the last day of the discount period. Invoices should be paid on the first day of the discount period.

Answers

Answer:

Invoices should be paid on the last day of the discount period.

Buyers should take advantage of early payment discounts.

Explanation:

Cash management can be regarded as

process involvinh collection and management of cash flows. Cash management is very crucial for individuals as well as companies as far as financial stability is concerned. It should be noted that good cash management practices involving inventory purchases;

✓Invoices should be paid on the last day of the discount period.

✓Buyers should take advantage of early payment discounts.

Good cash management practices involving inventory purchases include taking advantage of early payment discounts, negotiating payment terms with suppliers, purchasing inventory in bulk, tracking your inventory levels closely, and using a cash flow management tool.

Here are the specific practices that you should do:

Take advantage of early payment discounts. This is a great way to save money on inventory purchases. If you can pay your invoices within the discount period, you can usually save 1% to 3% on the purchase price.

Negotiate payment terms with suppliers. You may be able to get better payment terms from your suppliers, such as longer payment periods or discounts for paying early. This can help you improve your cash flow and save money on inventory purchases.

Track your inventory levels closely. This will help you avoid overstocking or understocking inventory. Overstocking can lead to wasted cash while understocking can lead to lost sales.

Use a cash flow management tool. This can help you track your cash flow and identify areas where you can improve. There are many different cash flow management tools available, so you can find one that fits your needs.

         

By following these good cash management practices, you can improve your cash flow and save money on inventory purchases. This can help you improve your business's bottom line and make it more successful.

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Consider this data for Marston Manufacturing Company and use it to complete the table:
Selected Financial Data for
Marston Manufacturing Company
Average cash $57,813
Average accounts payable $320,000
Average accounts receivable $1,387,500
Average inventories $693,750
Average cash sales $4,625,000
Average credit sales $13,875,000
Average cost of goods sold $8,325,000
Average number of days per year 365 days
Inventory conversion period 30.42 days
Payables deferral period days
Receivables conversion period
Operating cycle 66.92 days
Cash conversion cycle 52.89 days

Answers

Answer and Explanation:

The computation is shown below:

Payable Deferral Period = 365 ÷ Payable turnove ratio

where,

Payables Turnover Ratio = Average Cost of Goods Sold ÷ Average Accounts Payable

= ($8,325,000 ÷ $320,000)

= 26.02

Now payable deferral period is

= 365 ÷ 26.02

= 14.02 days

And, the receivables conversion period is

= 365 ÷ receivable turnover ratio

where

Receivables Turnover Ratio = Average credit sales ÷ Average Accounts receivable

= ($13,875,000 ÷ $1,387,500)

= 10

Now receivable turnover period is

= 365 ÷ 10

= 36.50 days

Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 6,100 units, but its actual level of activity was 6,050 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:

Data used in budgeting:

Fixed element per month Variable element per unit
Revenue - $32.60
Direct labor $0 $3.90
Direct materials 0 12.10
Manufacturing overhead 33,400 1.80
Selling and administrative expenses 28,300 0.40
Total expenses $61,700 $18.20
Actual results for May:


Revenue $200,564
Direct labor $22,786
Direct materials $73,824
Manufacturing overhead $43,922
Selling and administrative expenses $31,896

The direct labor in the planning budget for May would be closest to:_________

a. $23,010
b. $22,633
c. $22,786
d. $23,166

Answers

Answer:

$23,595

Explanation:

The computation of the direct labor in the planning budget is shown below:

Direct labor in planning budget is

= Actual level of Activity × Direct labor per unit

= 6,050 × $3.90

= $23,595

For calculating the direct labor in the planning budget we simply multiplied the actual activity level by the direct labor per unit

This is the answer but the same is not provided in the given options

"Dan Druff Shampoo has 1,000,000 shares of common stock authorized with a par of $1 per share, of which 500,000 shares are outstanding. When the market value was $9 per share, Druff issued a stock dividend by which for each ten shares held, one share was issued as a stock dividend. The par per share did not change. What entry did Druff record for this transaction?"

Answers

Answer:

Debit : Dividends $50,000

Credit : Cash $50,000

Explanation:

Dividend calculation = 500,000 shares x $1 x 1/10 = $50,000

To record the dividend, the following entry is made :

Debit : Dividends $50,000

Credit : Cash $50,000

Problem 8-15 Nonconstant Growth [LO1] Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $15 per share 10 years from today and will increase the dividend by 6 percent per year thereafter. If the required return on this stock is 12 percent, what is the current share price

Answers

Answer:

$84.14

Explanation:

P9 = Nest dividend (D10) / Required rate (r) - Growth rate (g)

P9 = $14 / 12% - 6%

P9 = $14 / 0.06

P9 = $233.33

P0 = P9 / (1+Required rate of return)^9

P0 = $233.33/(1+0.12)^9

P0 = $233.33/2.7731

P0 = $84.1404926

P0 = $84.14

So, the current share price is $84.14

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