Answer:
165 oversize rackets = 32 machine hours (79.71% of total production)
42 standard size rackets = 7 machine hours (20.29% of total production)
total profit contribution = (165 x $15) + (42 x $10) = $2,895
Explanation:
materials machine hours profit
standard size 0.125 kg 1/6 $10
oversize 0.4 kg 1/5 $15
constraints 80 kilograms of materials
40 hours of manufacturing
profit per machine hour:
standard size $10 x 6 = $60 x 40 hours = $2,400 (total possible production = 240 rackets)
oversize $15 x 5 = $75 x 40 hours = $3,000 (total possible production = 200 rackets)
profit per kilogram of alloy:
standard size $10 / 0.125 = $80 x 80 kgs = $6,400 (total possible production = 480 rackets)
oversize $15 / .4 = $37.50 x 80 hours = $3,000 (total possible production = 200 rackets)
since the most important constraint is the manufacturing hours available, the company should try to produce the products that yield the highest contribution margin per machine hour. In this case, at least 20% of total production must be standard size rackets, so the remaining 80% should be oversize rackets that yield a higher profit.
165 oversize rackets = 32 machine hours (79.71% of total production)
42 standard size rackets = 7 machine hours (20.29% of total production)
total manufacturing time = 40 hours
if we produce 166 oversize rackets and 41 standard size rackets, total manufacturing time will exceed 40 hours (40.03 hours exactly).
A list of financial statement items for Splish Brothers Inc. includes the following: accounts receivable $30,100, prepaid insurance $5,590, cash $22,360, supplies $8,170, and debt investments (short-term) $17,630.
Prepare the current assets section of the balance sheet listing the items in the proper sequence.
(List current assets in order of liquidity.)
Answer: Please find answers below
Explanation:
The Order of liquidity shows how assets of a company are presented in a balance sheet in an order that shows the faster the time taken for an asset to be converted to Cash.
The order in which Current accounts are represented as as follows
--- Cash (including currency, checking accounts, and petty cash),
----Short-term investments ,
----Accounts receivable,
---- Inventory,
-----Supplies,
----- Pre-paid expenses.
Current Assets of Splish Brothers Inc. in order of liquidity
Current Assets Amount
Cash $22,360
Debt investments(short term) $17,630
Accounts receivables $30,100
Supplies $8,170
Prepaid Insurance $5,590
Total Current Accounts $83,850
The accounts receivable turnover is computed as __________ divided by __________. sales; accounts receivable sales; average accounts receivable sales; net income accounts receivable; net income
Answer:
sales ; average accounts receivables
Explanation:
Accounts receivable turnover refers to how a business firm manage its assets. Businesses, companies uses accounts receivables to know and quantify how perfectly goods bought on credit by their customers are being paid back. It also measures how business gives credit and collects back it's debt .It is calculated as net sales divided by average accounts receivables.
Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include which of the following?
a) Energy Usage
b) Purchase Price
c) Product Liability Costs
d) Customer Dissatisfaction Costs
e) Warranty Costs
Answer:
a) Energy Usage
Explanation:
Total cost of ownership (TCO) can be defined as the summation of the purchase price (P) and operating costs (O) of an asset over the asset's lifespan.
Mathematically, it is given by the expression;
Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include an energy usage.
Energy refers to the amount or quantity of power which is being consumed by an individual, group of people or organization over a specific period of time. As the consumers continue to use energy, they're being charged or made to pay a utility fee regularly for their amount of consumption, which is usually calculated hourly (kilowatts per hour or kwh).
hi , what is third-party companies??? thank
Answer:
A 'third party', is any entity that a company does business with. This may include suppliers, vendors, contract manufacturers, business partners and affiliates, brokers, distributors, resellers, and agents.
Company expects to sell units of finished product in and units in . The company has units on hand on 1 and desires to have an ending inventory equal to % of the next month's sales. sales are expected to be units. Prepare 's production budget for and .
Complete Question:
Yasmin Company expects to sell 1,900 units of finished product in January and 2,250 units in February. The company has 270 units on hand on 1st January and desires to have an ending inventory equal to 20% of the next month's sales. March sales are expected to be 2,350 units. Prepare Yasmin's production budget for January and February.
Answer:
680 Units for January and 250 units for February.
Explanation:
Production Budget can be calculated using the following formula:
Production Budget = Expected Sales + Desired Ending Inventory Units - Opening Inventory
The formula is reflected in a tabular form below:
Production Budget For Yasmin Incorporation
January February
Expected Future Sales (Unit) 900 250
Add: Desired Ending Inventory Units 50 70
Less: Openning Inventory Units 270 70
Production Units 680 250
In general, a project's free cash flows will fall in one of the following three categories: initial outlay, annual free cash flows over the project's life, and the terminal free cash flow.
a) true
b) false
Answer:
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The HIJ bond has a current price of $800, a maturity value of $1,000, and matures in 5 years. If interest is paid semi-annually and the bond is priced to yield 8%, what is the bond's annual coupon rate
Answer:
Explanation:
The coupon rate is defined as the interest rate paid on a bond by its issuer for the term of the security.
Hence,
Par Value = $800
Face Value = $1,000
N = 5 x 2 = 10
Since the interest is semi annual
i = 8% / 2 = 4%
CF = $15.34
Coupon = $30.68 per year or 3.068%
Suppose you invested in the Ishares High Yield Fund (HYG) a month ago. It paid a dividend of today and then you sold it for . What was your dividend yield and capital gains yield on the investment?
Complete Question:
Suppose you invested $100 in the Ishares High Yield Fund HYG your dividend yield and capital gains yield on the investment?
It paid a dividend of $2 today and then you sold it for $95. What was Dividend Yield and Capital Gains Yield on the investment?
Answer:
Dividend Yield is 2%
Capital Gains Yield is -5%
Explanation:
Dividend Yield:
We can calculate the Dividend Yield using the following formula:
Dividend Yield = D0 / Initial Stock Price
Here
D1 was Dividend paid just now and is $2 per share
Initial Stock Price before the dividend payment was $100 per share
By putting values, we have:
Dividend Yield = $2 per share / $100 per share = 2%
Capital Gains Yield:
We can find capital gains yield by using following formula:
Capital Gains Yield = (P1 - P0) / P0
Here
P1 is $95
P0 is $100
By putting values we have:
Capital Gains Yield = ($95 - $100) / $100 = -5%
a proposed new project has projected sales of $222000, costs of $96500, and deperciation of $26100. The tax rate is 24 percent.Calculate operating cash flow using the four different approaches.
The question is incomplete. Here is the complete question
A proposed new project has projected sales of $222000, costs of $96500, and deperciation of $26100. The tax rate is 24 percent.Calculate operating cash flow using the four different approaches.
(Do not round intermediate calculations.)
A. EBIT+Depreciation-Taxes
B. Top-Down
C. Tax-Shield
D.Bottom-Up
Answer:
(A) $101,644
(B) $101,644
(C) $101,644
(D) $101,644
Explanation:
A proposed new project has a sales of $222,000
The cost is $96,500
The depreciation is $26,100
The tax rate is 24%
= 24/100
= 0.24
(A) Using the EBIT + Depreciation - Taxes approach, the operating cash flow can be calculated as follows
EBIT= Sales-Cost-Depreciation
= $222,000-$96,500-$26,100
= $99,400
Taxes= EBIT × tax rate
= $99,400 × 0.24
= $23,856
EBIT + Depreciation - Taxes
$99,400+$26,100-$23,856
= $125,500-$23,856
= $101,644
(B) Using the Top down approach, the operating Cash flow can be calculated as follows
Top down= Sales-Cost-Taxes
= $222,000-$96,500-$23,856
= $101,644
(C) Using the tax shield approach, the operating cash flow can be calculated as follows
Tax shield= (sales-cost)×(1-Tax rate)+(depreciation×tax rate)
= ($222,000-$96,500) × (1-0.24) + ($26,100×0.24)
= 125,500×0.76+6,264
= $101,644
(D) Using the bottom up approach, the operating cash flow can be calculated as follows
Bottom up = NI + depreciation
NI=EBIT-Taxes
= $99,400-$23,856
= $75,544
Bottom up=$75,544 + $26,100
= $101,644
in microsoft excel, if you click on the right corner of cell A9 and drag it down two rows, What will happen?
Answer:
It will copy or apply any formula on the cell to the cells below
Explanation:
I'm assuming this question is missing details but dragging the corner box of a cell applies the value, pattern, or formula to the cells below it or the direction you drag it
When the right corner of cell A9 is dragged down until two rows the formula, text, or sequence applied on cell A9 will be copied until the cell is dragged.
Microsoft Excel is the spreadsheet that is developed to record the data in the sequence or the numerical data. It is basically used to organize the data and perform financial analysis.
A single cell supposes A9:
It can include a formulaA numberAn alphabet or any other numerical data.If the data can have a sequence then if the right corner of the cell is dragged down then the number of the cell will be either copied to the cells or the formula applied in the cell will be copied, or the number or the alphabets can be shown in the sequence.
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"At that time, the market price of ABC is $44. If the market rises to $58 and the call is exercised (the put expires out the money), the gain or loss is:"
Answer:
600 loss
Explanation:
The computation of the gain or loss is shown below:
Since on Jan, there is a put option of 45 at $3 and the market rises to $58
So it losses by 13 points i.e
= 45 - 58
= 13
Now the total premium points collected is of 7 i.e
= 4 + 3
= 7
So, the remaining points left is
= 13 - 7
= 6
So for 6 points, the net loss is $600
The Federal Reserve S role as a lender of last resort involves lending to which of the following financially troubled institutions?
a. U.S. state governments when they run short on
b. U.S. banks that cannot borrow elsewhere
c. Governments in developing during currency crises.
Answer: U.S. banks that cannot borrow elsewhere
Explanation:
Lender of last resort is.a situation that occurs when the central bank in a country gives loans to the commercial banks in the country when they are going through financial difficulties.
In this scenario, The Federal Reserve S role as a lender of last resort involves lending to U.S. banks that cannot borrow elsewhere.
0.69 points eBookPrintReferences Check my work Check My Work button is now enabledItem 1Item 1 0.69 points Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $410,000. In addition to the purchase price, FVI makes the following expenditures related to the acquisition: broker's commission, $21,000; title insurance, $1,100; and miscellaneous closing costs, $4,200. The warehouse is immediately demolished at a cost of $21,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land.
Answer:
$457,300
Explanation:
Calculation to determine the amount FVI should record as the cost of the land.
COST OF LAND
Land and warehouse $410,000
Add Expenditure:
Broker's commission $21,000
Title insurance $1,100
Miscellaneous closing costs $4,200
Warehouse demolished cost $21,000
Cost of land $457,300
Therefore the cost of land will be $457,300
2. What is your class or form?
A. 1st Year (Form 1)
B. 2nd Year (Form 2)
C. 3rd Year (Form 3)
Answer:
2 nd year ( FORM 2)
Explanation:
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A firm has the following gross requirements for Item OF. Ordering costs are $60 per order and carrying costs are $0.50 per period.
Item F Period
LT: 1 1 2 3 4
Gross Requirements 60 40 80 60
Schedule Receipts
Project on Hand 100
Net Requirements
Planned Order Receipts
Planned Order Releases
If EOQ lot sizing is used the minimum order quantity would be:_______
a. 85
b. 100
c. 120
d. 150
Answer:
c. 120
Explanation:
The economic order quantity is the minimum amount of inventory that a seller must keep to demand and lower the holding cost. The formula for Economic order quantity is represented by the formula:
EOQ = [tex]\sqrt{\frac{2*Demand*Ordering Cost}{Holding cost} }[/tex]
EOQ = [tex]\sqrt{\frac{2*240*60}{0.5} }[/tex]
EOQ = 120
A profit-maximizing firm in a competitive market that is producing on a production curve where the marginal product of labor is diminishing also has
Answer: A. a downward-sloping labor demand curve.
Explanation:
The labor demand curve is plotted with the quantity of labor demanded vs the real wages paid to labor. In a firm that is producing in a market with a diminishing marginal product of labor, the demand curve will be downward sloping to reflect that the more labor that a company has, the less it pays them.
This is because the extra labor is bringing in less additional revenue and so will need to be paid accordingly to reflect that as more labor is hired, the output decreases.
what is a fixed income
According to CEO John Hillerich, treating others with respect is part of the organization's
a)history
b)structure
c)culture
d)leadership
e)decision making
'Culture' is denoted as 'the beliefs, values, behavior, and habits' that characterize an organization or a society.'
As per the statement of the organization's CEO, the display of respect and dignity towards fellow employees would be a part of its:
c). Culture
The culture of an organization primarily includes:
The common behavioral norms and patterns.A set of standard beliefs and values to be followed by all.The standard practices and attitudes are to be displayed throughout the work.Thus, respecting one another would be a component of the organization's culture of not discriminating against any employee within the business premises.
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intext:"A company has net sales of $1,200,000 and average accounts receivable of $400,000. What is its accounts receivable turnover for the period"
Answer:
i think it would be 4x
Explanation:
im dumb
For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $ 350,000 Permanent difference (14,700 ) 335,300 Temporary difference-depreciation (19,900 ) Taxable income $ 315,400 Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations
Answer:
Tringali should report $78,850 as its income tax expense for its first year of operation.
Explanation:
The company should use the taxable income of $305,600 to calculate it's income tax expense as it is only on it basis that the tax payable by a firm is determine
Income tax expenses = Taxable income * Tax rate
Income tax expenses = $315,400 x 25%
Income tax expenses = $78,850
A firm has a debt-to-equity ratio of .5 and a market-to-book ratio of 2. What is the ratio of the book value of debt to the market value of equity
Answer: 0.25
Explanation:
The The debt-to-equity ratio is calculated when the total liabilities of w company is divided a by the shareholder equity while the book-to-market ratio is used to know a company's value by comparing the book value of the company to its market value.
Since the firm has a debt-to-equity ratio of .5 and a market-to-book ratio of 2. The ratio of the book value of debt to the market value of equity will be:
= 0.5/2
= 0.25
On January 1, Year 1, St. Clair Corporation issues 7%, 11-year bonds with a face amount of $90,000 for $83,497. The market interest rate is 8%. Interest is paid semiannually on June 30 and December 31. Complete the necessary journal entry for the issuance of the bonds by selecting the account names from the drop-down menus and entering the associated dollar amounts.
Answer:
Cash $83,497 (debit)
Investment in Bonds $83,497 (credit)
Explanation:
On Issuance of Bond, the Bond Issuer must recognize the Assets of Cash at the amount of consideration paid by the Bond Holder (Investor).
Also, the Financial Liability : Investment in Bonds must also be recognized by the Issuer at the same amount that the cash has been recognized at.
A proposed cost-saving device has an installed cost of $790,000. The device will be used in a five-year project but is classified as three-year MACRS property for tax purposes. The required initial net working capital investment is $77,000, the tax rate is 21 percent, and the project discount rate is 10 percent. The device has an estimated Year 5 salvage value of $118,000. What level of pretax cost savings do we require for this project to be profitable?
Answer:
The pretax cost savings for project to be profitable will be more than $2,059,794 for the 5 years of life.
Explanation:
Installed cost = $790,000
Initial working capital = $77,000
Tax rate = 21%
Project discount rate = 10%
Estimated salvage value = $118,000
Depreciable amount :
Installed cost $790,000
Salvage value 118,000
Net $672,000
Annual depreciation = $134,400 ($672,000/5)
Working capital = $77,000
Pretax cost savings = $211,400 x 1.61051 x 1.21
= $2,059,794
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year’s plans call for a $350 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $315,000, up to a maximum capacity of 550,000 yards of rope. Forecasted variable costs are $245 per 100 yards of XT rope.
Required:
1. Estimate Product XT's break-even point in terms of (a) sales units and (b) sales dollars.
2. Prepare a CVP chart for Product XT. Use 7,000 units (700,000 yards/100 maximum number of sales units on the horizontal axis of the graph, and $1,400,000 as the maximum dollar amount on the vertical axis.
3. Prepare a contribution margin income statement showing sales, variable costs, and fixed costs for Product XT at the break-even point.
Answer:
1a. 3,000 units
1b. $1,050,000
2. See attachment.
3. contribution margin income statement
Sales ($350 × 7,000 units) $2,450,000
Less Variable Cost ($245 × 7,000 units)) ($1,715,000)
Contribution $735,000
Less Fixed Costs ( $315,000)
Operating Profit $420,000
Explanation:
Break-even point (sales units ) = Fixed Cost ÷ Contribution per unit
= $315,000 ÷ ($350 - $245)
= 3,000
Break-even point (sales dollars) = Fixed Cost ÷ Contribution Margin Ratio
= $315,000 ÷ ($105/$350)
= $1,050,000
Storm in Bowl is a noodle manufacturer in Texas. It advertises the ingredients used for its product to convince customers that it is safe for consumption. The company has also slashed its prices to ensure affordability for low-income consumers. According to the VALS™ framework, Storm in Bowl is most likely targeting
Answer: Survivors
Explanation:
From the question, we are informed that Storm in Bowl is a noodle manufacturer in Texas and that it advertises the ingredients used for its product to convince customers that it is safe for consumption.
We are further told that the company has also slashed its prices to ensure affordability for low-income consumers. According to the VALS™ framework, Storm in Bowl is most likely targeting survivors.
The survivors are those with low income and have very few resources and are also loyal to a particular brand.
Webcom. Inc. had the following current assets and current liabilities at the end of two recent years:
Current Year (in millions) Previous Year (in millions)
Cash and cash equivalents $8,297 $4,067
Short-term investments, at cost 422 458
Accounts and notes receivable, net 7,041 6,912
Inventories 3,581 3,827
Prepaid expenses and other current assets 1,479 2,377
Short-term obligations 4,815 6,205
Accounts payable 12,774 11,949
Requried:
a. What is the Current Ratio for the current year?
b. What is the Current Ratio for the preceding year?
c. What is the Quick Ratio for the current year?
d. What is the Quick Ratio for the preceding year?
e. What is the Working Capital for the current year?
f. What is the Working Capital for the preceding year?
Answer:
a. Current Ratio for the current year = 1.18
b. Current Ratio for the preceding year = 0.97
c. Quick Ratio for the current year = 0.98
d. Quick Ratio for the preceding year = 0.76
e. Working Capital for the current year = $3,231
f. Working Capital for the preceding year = –$513
Explanation:
Based on the information provided in the question, we first state the following formula to be used before answering the question:
Current asset = Cash and cash equivalents + Short-term investments, at cost + Accounts and notes receivable, net + Inventories + Prepaid expenses and other current assets ................... (1)
Current liabilities = Short-term obligations + Accounts payable ................. (2)
Current ratio = Current assets / Current liabilities ............................ (3)
Quick Ratio = (Current assets - Inventory) / Current liabilities ............... (4)
Working capital = Current assets - Current Liabilities ........................... (5)
We now calculate the answers as follows:
a. What is the Current Ratio for the current year?
Using equation (1), we have:
Current asset for the current year (in millions) = $8,297 + $422 + $7,041 + $3,581 + $1,479 = $20,820
Using equation (2), we have:
Current liabilities for the current year (in millions) = $4,815 + $12,774 = $17,589
Using equation (3), we have:
Current ratio for the current year = $20,820 / $17,589 = 1.18
b. What is the Current Ratio for the preceding year?
Using equation (1), we have:
Current asset for the preceding year (in millions) = $4,067 + $458 + $6,912 + $3,827 + $2,377 = $17,641
Using equation (2), we have:
Current liabilities for the preceding year (in millions) = $6,205 + $11,949 = $18,154
Using equation (3), we have:
Current ratio for the preceding year = $17,641 / 18,154 = 0.97
c. What is the Quick Ratio for the current year?
Using equation (4) and calculations from part a, we have:
Quick Ratio for the current year = ($20,820 - 3,581) / $17,589 = 0.98
d. What is the Quick Ratio for the preceding year?
Using equation (4) and calculations from part b, we have:
Quick Ratio for the preceding year = ($17,641 - 3,827) / $18,154 = 0.76
e. What is the Working Capital for the current year?
Using equation (5) and calculations from part a, we have:
Working Capital for the current year = $20,820 - $17,589 =$3,231
f. What is the Working Capital for the preceding year?
Using equation (5) and calculations from part b, we have:
Working Capital for the preceding year = $17,641 - $18,154 = –$513
Consider the case of Purple Panda Pharmaceuticals: Next year, Purple Panda is expected to earn an EBIT of $2,000,000, and to pay a federal-plus-state tax rate of 30%. It also expects to make $500,000 in new capital expenditures to support this level of business activity, as well as $35,000 in additional net operating working capital (NOWC). Given these expectations, it is reasonable to conclude that next year Purple Panda will generate an annual free cash flow (FCF) of (rounded to the nearest whole dollar).
Answer:
Purple Panda Pharmaceuticals
Annual Free Cash Flow (FCF):
FCF = Sales Revenue - (Operating costs + Taxes) - Required investments in operating capital or net operating profit after taxes - net investment in operating capital =
Net Income = $1,400,000
additional NOWC = 35,000
Capital expenditures = 500,000
FCF = $865,000
Explanation:
a) Data and Calculations:
EBIT = $2,000,000
Tax = 30% or $600,000
Net Income = $1,400,000
additional NOWC = 35,000
Capital expenditures = 500,000
FCF = $865,000
Purple Panda Pharmaceuticals' Free Cash Flow shows what is available for distribution to security holders after the payment of taxes. Purple Panda will use the information from its Free Cash Flow to judge if a project will pay off and generate enough cash flow so that shareholders' value will be enhanced.
The following questions will test you on what you have just learned about sentence-level writing including dangling modifiers, independent and dependent clauses, and parallelism.
Identify the dangling modifier in the sentence, and choose the best revision.
When beginning the meeting, the fire alarm went off.
1. The fire alarm went off when beginning the meeting.
2. When we were beginning the meeting, the fire alarm went off
Katie reviewed the meeting minutes taking the train into Boston.
1. Katie reviewed the meeting minutes taking the train into Boston.
2. Taking the train into Boston, Katie reviewed the meeting minutes.
Identify the dependent clauses in the list below. Check all that apply
1. Unless he responds to my request in the next 24 hours
2. Therefore, she is able to reprogram the system
3. When he opened the e-mail message
Identify the independent clauses in the list below. Check all that apply.
1. During the opening speaker's presentation.
2. Meanwhile, the executive assistant printed the agenda.
3. Even though fourth quarter numbers improved.
Identify the sentence with correct parallel structure.
1. The systems analyst found that we needed to upgrade our equipment, revise our backup process, and implement better security measures.
2. The systems analyst found that we needed upgraded equipment, revised backup processes, and to implement better security measures.
Choose the best option to complete the sentence.
If you _________, you will do well in this corporation.
1. write well, speak well, and use good interpersonal skills
2. write well, speak well, and are using good interpersonal skills
Answer:
Sentence-level Writinga. Dangling Modifier:
1.
Dangling Modifier: When beginning the meeting
Best Revision: 2. When we were beginning the meeting, the fire alarm went off
2.
Dangling Modifier : taking the train into Boston
Best Revision: Taking the train into Boston, Katie reviewed the meeting minutes.
b. Identifying the dependent clauses:
1. Unless he responds to my request in the next 24 hours
3. When he opened the e-mail message
c. Identifying the independent clauses:
2. Meanwhile, the executive assistant printed the agenda.
d. Identifying the sentence with the correct parallel structure:
1. The systems analyst found that we needed to upgrade our equipment, revise our backup process, and implement better security measures.
e. Best option to complete the sentence:
If you _________, you will do well in this corporation.
1. write well, speak well, and use good interpersonal skills
Explanation:
a. A phrase or clause that is not directly related to the word or words it modifies is called a dangling modifier. Usually, the word a dangling modifier modifies may be absent from the sentence. An example is "when beginning the meeting." The word it modifies may be "we" as in "When we were beginning the meeting, the fire alarm went off."
b. A clause which cannot make a complete sense or sentence is called a dependent clause. It requires another clause to make a complete sense. The clause that makes a complete a complete sentence and can stand alone without another clause is an independent clause.
c. A sentence that has grammatical structure which is balanced is said to have parallelism. This can also be called parallel structure or construction. This means that the items listed follow similar pattern that rhyme with one another. Let us revise the sentence with the wrong parallel structure in this case so as to make it become a parallelism: "The systems analyst found that we needed upgraded equipment, revised backup processes, and better implemented security measures." By this revision, the wrong parallel sentence now has a well-structured parallelism.
A dangling modifier is a phrase or sentence that has no direct connection to the word or words it modifies. The correct options for the dangling modifier are When beginning the meeting and taking the train into Boston, and the correct options for the independent clause are Unless he responds to my request in the next 24 hours, and When he opened the e-mail message.
1.
Dangling Modifier: When beginning the meeting
Best Revision: 2. When we were beginning the meeting, the fire alarm went off
2.
Dangling Modifier: taking the train into Boston
Best Revision: Taking the train into Boston, Katie reviewed the meeting minutes.
b. Identifying the dependent clauses:
1. Unless he responds to my request in the next 24 hours
3. When he opened the e-mail message.
The term that a dangling modifier usually modifies may not even be present in the phrase. An illustration might be "when the meeting starts." The word it modifies can be "we," as in "The fire alarm went off as we were starting the meeting."
A dependent clause is a clause that cannot be used to finish a sentence or make sense on its own. For it to make sense, another sentence is necessary. An independent clause is one that can stand alone without the help of another clause and completes a complete sentence.
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During the month of March, Blossom Company’s employees earned wages of $60,000. Withholdings related to these wages were $4,590 for Social Security (FICA), $7,031 for federal income tax, $2,906 for state income tax, and $375 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $656 for state unemployment tax.
1. Prepare the necessary March 31 journal entry to record salaries and wages expense and salaries and wages payable. Assume that wages earned during March will be paid during April.
2. Prepare the entry to record the company’s payroll tax expense.
Answer:
1.
March 31,
DR Salaries and Wages Expense ....................$60,000
CR FICA taxes payable ........................................................$4,590
CR Federal income tax payable .........................................$7,031
CR State income tax payable ..............................................$2,906
CR Union dues payable .......................................................$375
CR Salaries and Wages payable ..........................................$45,098
Working
Salaries and Wages payable = 60,000 - 4,590 - 7,031 - 2,906 - 375
= $45,098
2.
DR Payroll taxes payable ...................................$5,246
FICA taxes payable .................................................................$4,590
State unemployment taxes payable ....................................$656
Working
Payroll taxes payable = 4,590 + 656
= $5,246
ABC paid $2,000 interest on short-term notes payable, $10,000 interest on long-term bonds, and $6,000 in dividends on its common stock. ABC would report cash outflows from activities, as follows:
A) Operating, $12,000; Financing $6,000.
B) Operating, $0; Financing $18,000.
C) Operating, $18,000; Financing $0.
D) Operating, $2,000; Financing $16,000.
Answer: A) Operating, $12,000; Financing $6,000.
Explanation:
Operating Activities deal with the cashflow related to the operations of the business and it's short term obligations. Interest payments on loans are short term and are considered part of normal business operations so the outflow from Operating activities is;
= $2,000 interest on short-term notes payable + $10,000 interest on long-term bonds
= $12,000
Financing Activities relate to cash-flow surrounding the capital of the firm. This includes Equity and long term debt. Dividends have the impact of reducing equity and so will fall under Financing activities.
Dividends = Financing = $6,000