Answer:
c.$538,685
Explanation:
Calculation to determine what Scarbrough will receive and record cash of
Receivables $600,000
Less: Amount of the hold back ($30,000)
($600,000 x 5%)
Less: Withheld as fee income ($18,000)
($600,000 x 3%)
Less: Withheld as interest expense ($13,315)
($600,000 × 15% × 54/365)
Cash $538,685
Therefore Scarbrough will receive and record cash of: $538,685
Which of the following statements is CORRECT? Assume that the project being considered has normal cash flows, with one outflow followed by a series of inflows. Group of answer choices To find a project's IRR, we must find a discount rate that is equal to the WACC. A project's IRR is found by discounting the cash inflows at the WACC to find the present value (PV), then compounding this PV to find the IRR. None of these Answers To find a project's MIRR, we must solve for the discount rate that causes the PV of the inflows to equal the PV of the project's costs. A project's MIRR is found by compounding the cash inflows at the WACC to find the terminal value (TV), then discounting this TV at the WACC
Ano ang dapat nating tandaan kapag nagbibigay ng pangunang lunas?
1 pts A $1.50 tax levied on the buyers of pomegranate juice will shift the demand curve Group of answer choices upward by exactly $1.50. upward by less than $1.50. downward by exactly $1.50. downward by less than $1.50.
Answer:
downward by exactly $1.50
Explanation:
The market for agricultural products is perfectly competitive
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
Consumers demand in perfect competition is elastic
If prices increases, the demand curve shifts downward by exactly the increase in price
Is an increase in the marginal income tax rate reflected by a shift in the after-tax supply of labor or a movement along the supply curve when the pretax wage rate is on the vertical axis?
Answer:
A shift in the supply curve of labour.
Explanation:
An increase in marginal income tax rate cause the income tax burden on a consumer to rise as the consumers income goes up.
What this means is that as his income gets to rise, he would have to pay more in taxes. Due to a rising change in what he pays as tax, what he would receive as income after tax would be lower at the same number of labor hours. On the labor supply curve this would depict a downward shift.
In conclusion, an increase in marginal tax would be shown by a shift in the after tax supply of labor which would fall backwards or downwards
The opportunity cost of buying a ticket to a major league baseball game and then going to the game is: the time spent at the game. the next best alternative that could have been undertaken. all other alternative activities that could have been undertaken. the price of the ticket.
Answer:
. the next best alternative that could have been undertaken.
Explanation:
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives
Assume that the next best option instead of attending the game is to study for a test. this is the opportunity cost
the price of the ticket is known as the explicit cost. Explicit cost includes the amount expended in carrying out a particular activity
Suppose you've just inherited $10,000 from a relative. You're trying to decide whether to put the $10,000 in a non-interest-bearing account so that you can use it whenever you want (that is, hold it as money) or to use it to buy a U.S. Treasury bond.
The opportunity cost of holding the inheritance as money depends on the interest rate on the bond.
For each of the interest rates in the following table, compute the opportunity cost of holding the $10,000 as money.
Interest Rate on Government Bond (Percent) Opportunity Cost (Dollars per year)
8 _____ (10,000.00 / 800.00 / 0.08 / 8.00 / 125,000.00)
10 _____ (10,000.00 / 10.00 / 100,000.00 / 1,000.00 / 0.10)
What does the previous analysis suggest about for money?
a. The quantity of money demanded decreases as the interest rate rises.
b. The quantity of money demanded increases as the interest rate rises.
c. The supply of money is independent of interest rate.
Answer:
A. $800
B. $1,000
C. a. The quantity of money demanded decreases as the interest rate rises
Explanation:
A. Computation for the opportunity cost of holding the $10,000 as money if Interest Rate is 8%
Opportunity Cost for 8% interest rate=$8%*$10,000
Opportunity Cost for 8% interest rate= $800
Therefore the opportunity cost of holding the $10,000 as money if Interest Rate is 8% will be $800
B. Computation for the opportunity cost of holding the $10,000 as money if Interest Rate is 10%
Opportunity Cost for 10% interest rate =10%*$10,000
Opportunity Cost for 10% interest rate = $1,000
Therefore the opportunity cost of holding the $10,000 as money if Interest Rate is 10% will be $1,000
C. Based on the information given the previous analysis suggest about for money: THE QUANTITY OF MONEY DEMANDED DECREASES AS THE INTEREST RATE RISES.
Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts Payable, Common Stock, Retained Earnings, Dividends, Fees Earned, Rent Expense, Advertising Expense, Utilities Expense, Miscellaneous Expense. Journalize the following selected transactions for October 20Y2 in a two-column journal. Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank.
Oct. 1. Paid rent for the month, $5,700.
3. Paid advertising expense, $3,610.
5. Paid cash for supplies, $1,550.
6. Purchased office equipment on account, $23,700.
12. Received cash from customers on account, $7,740.
20. Paid creditor on account, $2,270.
27. Paid cash for miscellaneous expenses, $980.
30. Paid telephone bill for the month, $360.
31. Fees earned and billed to customers for the month, $51,600.
31. Paid electricity bill for the month, $620.
31. Paid dividends, $3,900.
Answer:
would you still like me to help you with this question
An increase in the excise tax on alcohol of $1 per liter: a. coupled with a uniform drinking age nationwide would save lives. b. will raise the price of alcohol by exactly $1 per liter. c. will generate substantial revenue if demand is elastic. d. will generate minimal tax revenues for the federal government. e. will have no effect on alcohol consumption.
Answer:
c. will generate substantial revenue if demand is elastic.
Explanation:
If there is an increase in the excise tax on the alcohol so it would produced the high revenue since the demand for the alcohol is elastic also the excise tax represent the application with respective to the price elasticty of demand
Therefore as per the given options, the option c is correct
And, the same is to be considered
Zubin Ltd. had set the transfer price at $40 for the purchase of goods from its U.S. subsidiary. But the IRS audited the transfer price and determined that it should have been using a transfer price of $190. Assuming the adjustment results in an increase in U.S. tax liability of $200,000. Determine the penalty amount.
Answer:
Zubin Ltd.
The Penalty amount is:
Minimum = $10,000
Maximum = $50,000
Explanation:
a) Data and Calculations:
Company set transfer price = $40
IRs determined transfer price = $190
Increase in U.S. tax liability = $200,000
IRS penalty rate = 5% minimum for each month of default and not exceeding 25% maximum
Therefore, the penalty amount:
Minimum = $10,000 (5% of $200,000)
Maximum = $50,000 (25% of $200,000)
Janson Company prepares an income statement for financial accounting purposes using the traditional income statement format, as well as an income statement for managerial accounting purposes using the contribution margin format. Selected information from both income statement formats are as follows:
Revenues $200,000
Cost of goods sold $40,000
Contribution ion margin ratio 50%
Operating expenses $120,000
Fixed expenses $60,000
Required:
Using the contribution margin format, operating income is:_______
Answer:
500$0000$0000
Explanation:
A potential complication for successful price discrimination is a. multiple demand elasticities among consumers. b. the presence of a price maker in a market full of price takers. c. a product or service for which consumers value differently. d. other industry firms also practicing price discrimination. e. the potential for consumers to resell a product or service.
Answer: e. the potential for consumers to resell a product or service
Explanation:
Price discrimination refers to a practice by a producer/seller where they sell the same goods at different prices to different markets in order to make more profit.
Problems can arise if customers begin to resell these goods because some customers could buy it from markets where the producer charges less and sell it in markets where the producer charges more which would allow them to make profit at the producer's expense because they would be competing with the producer with the producer's own goods.
What is a certificate of deposit (CD)?
A. A savings product with a guaranteed rate of interest and a maturity date.
B. Written document that proves ownership in a company or a small business.
C. A receipt for buying a mutual fund.
D. A bond with yearly dividends.
Answer:
i believe the answer is b
epper Department store allocates its service department expenses to its various operating (sales) departments. The following data is available for its service departments: Expense Basis for allocation Amount Rent Square feet of floor space $ 49,000 Advertising Amount of dollar sales $ 80,000 Administrative Number of employees $ 120,000 The following information is available for its three operating (sales) departments: Department Square Feet Dollar Sales Number of employees A 5,500 $ 355,000 31 B 5,900 $ 375,000 33 C 6,100 $ 520,000 35 Totals 17,500 $ 1,250,000 99 What is the total advertising expense allocated to Department B
Answer:
Pepper Department Store
The total advertising expense allocated to Department B is:
= $24,000.
Explanation:
a) Data and Calculations:
Expense Basis for allocation Amount
Rent Square feet of floor space $ 49,000
Advertising Amount of dollar sales $ 80,000
Administrative Number of employees $ 120,000
Department Square Feet Dollar Sales Number of employees
A 5,500 $ 355,000 31
B 5,900 $ 375,000 33
C 6,100 $ 520,000 35
Totals 17,500 $ 1,250,000 99
Advertising Expense Allocation:
Department A = $22,720 (355,000/$1,250,000 * $80,000)
Department B = $24,000 ($375,000/$1,250,000 * $80,000)
Department C = $33,280 ($520,000/$1,250,000 * $80,000)
For each separate case below, follow the three-step process for adjusting the accrued revenue account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year.
a. Accounts Receivable. At year-end, the L. Cole Company has completed services of $19,000 for a client, but the client has not yet been billed for those services.
b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $390 of interest earned from its investments in government bonds.
c. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,300 of work.
Answer:
Dr Accounts receivable $19,000
Cr Earned service revenues $19,000
Dr Interest receivable $390)
Cr Interest revenue $390
Dr Accounts receivable $1,300
Cr Earned service revenue $1,300
Explanation:
Preparation to Record the December 31 adjusting entry
Dr Accounts receivable $19,000
Cr Earned service revenues $19,000
Dr Interest receivable $390)
Cr Interest revenue $390
Dr Accounts receivable $1,300
Cr Earned service revenue $1,300
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
Question Completion:
A manufactured product has the following information for June.
Standard Actual
Direct materials 6 lbs. at $8 per lb. 48,500 lbs. at $8.10 per lb.
Direct labor 2 hrs. at $16 per hr. 15,700 hrs. at $16.50 per hr.
Overhead 2 hrs. at $12 per hr. $198,000
Units manufactured 8,000
Answer:
Direct materials price variance = $4,850 U
Direct materials quantity variance = $4,000 U
Explanation:
a) Data and Calculations:
Actual Standard
Direct materials price per lbs $8.10 $8.00
Direct labor rate per hour $16.50 $16.00
Quantity:
Direct materials 48,500 48,000 (6 * 8,000)
Direct labor hours 15,700 16,000 (2 * 8,000)
Direct materials price variance = SP - AP * AQ
= $8 - $8.10 * 48,500
= $0.10 * 48,500
= $4,850 U
Direct materials quantity variance = SQ - AQ * SP
= 48,000 - 48,500 * $8
= $4,000 U
A company has a Deferred Tax Liability of $35,000. Now, the government has just changed the statutory tax rate from 35% to 30% effective immediately. What is the correct journal entry to record the impact of this tax rate change
Answer and Explanation:
The correct journal entry to record the impact of this tax rate change is shown Below:
Income Tax Expense $5,000
To Deferred Tax Assets $5,000
(being the income tax expense is recorded)
here the income tax expense is debited as it increased the expense and credited the deferred tax assets
So, the same should be considered
Julie evaluated her spending and found that she was spending about $75 more per month on transportation than she has bodgeted She can transfer money from other categories to increase transportation budget to $250 per month If her total monthly income S1,900 , to the nearest percent, what percent of her monthly income will be budgeted for transportation
Answer:
Julie
The percent of her monthly income that will be budgeted for transportation is:
= 13%.
Explanation:
a) Data and Calculations:
Amount budgeted for transportation = $175
Amount being spent on transportation = $250
Total monthly income = $1,900
Percentage of monthly income that will be budgeted for transportation = $250/$1,900 * 100
= 13.16%
= 13.2%
= 13%
Percentage of monthly income earlier budgeted for transportation = 9% ($175/$1,900 * 100)
The additional spending on transportation represents 4% ($75/$1,900 * 100)
New percentage spending on transportation = 13% (9% + 4%)
Timeless Corporation issued preferred stock with a par value of $600. The stock promised to pay an annual dividend equal to 20.0% of the par value. If the appropriate discount rate for this stock is 13.0%, what is the value of the stock
Answer:
$923.08
Explanation:
Calculation to determine the value of stock
Annual Dividend = 20%*600 = D = 120
Discount rate = r = 13% = 0.13
Value of the preferred stock can be calculated using the perpetuity formula:
Value of the dividend = P = D/r = 120/0.13 = $923.08
Therefore the value of stock is $923.08
Applications that integrate business activities across departmental boundaries are often referred to as _____________ planning systems.
Answer:
Enterprise resource.
Explanation:
Enterprise Resource Planning (ERP) is a business strategy process where organizations manage and integrate the main parts of their day-to-day business activities by using software applications.
The ERP software system is used to integrate planning, accounting, finance, marketing and human resources.
For instance, when an organization is replacing a payroll program that it developed in house, with the relevant subsystem of a commercial Enterprise Resource Planning (ERP) system, It should be noted that a faulty migration of historical data from the old system to the new system represent the highest potential risk because you won't be able to measure and analyze performance.
Hence, software applications or programs that integrate all business activities across departmental boundaries such as marketing, procurement, customer relationship, sales, etc., are often referred to as enterprise resource planning systems.
Carr Inc. purchased equipment for $100,000 on January 1, Year 1. The equipment had an estimated 10-year useful life and a $15,000 salvage value. Carr uses the 200 percent declining balance depreciation method. In its Year 2 income statement, what amount should Carr report as depreciation expense for the equipment
Answer:
$16,000
Explanation:
Calculation to determine what amount should Carr report as depreciation expense for the equipment
First step is to calculate Depreciation under Double declining Balance method
Depreciation under DDB = 2/10 x $100,000
Depreciation under DDB =$ 20,000
Now let calculate what amount should Carr report as depreciation expense for the equipment
Depreciation expense=2/10 *($100,000-$20,000)
Depreciation expense=2/10*$80,000
Depreciation expense= $16,000
Therefore what amount should Carr report as depreciation expense for the equipment is $16,000
Famous Foods is a fast-food chain restaurant famous for its hot coffee (its coffee temperature is a bit higher than that of the industry average). One sunny morning, Jane went to a Famous drive-through for breakfast and purchased coffee. Jane put the cup between her knees and tried to get the coffee lid off. As she tugged at the lid, scalding coffee spilled onto her. The 170-degree coffee burned her. She had to be hospitalized and was unable to work for two weeks to treat the third-degree burns she suffered. The total medical expenses she incurred were $4,000. Normally she could make $5,000 a week. Her estimated pain and suffering was $3,000. Jane sued Famous and asked for punitive damage of $50,000 in addition to compensatory damages. Question 23 of 250.4 Points What is the total amount of special damages that Jane would be entitled to
Operations Management:is a network of manufacturing and service options.is an essential function for primarily for-profit organizations.is narrowly dedicated to a single corporate function.focuses on decisions about the production and delivery of a firm s products and services.prioritizes sustainability over profits.
Answer:
focuses on decisions about the production and delivery of a firm's products and services.
Explanation:
Operations management can be regarded as a field of business which involves administration of business practices that carried out maximization of efficiency in a firm or an organization. It entails process such as planning, organizing, as well as taking responsibility for processes in organization in order to balance revenues as well as costs. It should be noted that Operations Management focuses on decisions about the production and delivery of a firm's products and services.
name the institution that investigates anti-competitive behaviour on companies in south africa
Explanation:
the competition committee of southafrica, set up in the year 1989 by the southafrica government under the competition act to empower to investigate, control and restrict business, abuse of dominant positions and merges in order to achieve equity and efficiency in the southafrica economy.
A company recorded 2 days of accrued salaries of $1,500 for its employees on January 31. On February 9, it paid its employees $7,200 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are:
Answer:
Journal Entries are:
January 31:
Debit Salaries Expense $1,500
Credit Salaries Payable $1,500
To accrue salary expense for 2 days.
February 9:
Debit Salaries Expense $5,700
Debit Salaries Payable $1,500
Credit Cash $7,200
To record the payment of salaries expense, including salaries payable.
Explanation:
a) Data and Analysis:
January 31: Salaries Expense $1,500 Salaries Payable $1,500
February 9: Salaries Expense $5,700 Salaries Payable $1,500 Cash $7,200
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 6.4 hours Standard variable overhead rate $12.80 per hour The following data pertain to operations for the last month: Actual hours 2,650 hours Actual total variable manufacturing overhead cost $34,570 Actual output 150 units What is the variable overhead efficiency variance for the month
Answer:
See below
Explanation:
Given the following;
Standard hours per unit of output 6.4 hours
Standard variable overhead rate $12.80 per hour
Actual hours 2,650 hours
Actual output 150 units
To calculate the variable overhead efficiency variance, we will use the formula below;
Variable overhead efficiency variance
= (Standard quantity - Actual quantity) × Standard rate
Standard quantity = 150 units × 6.4 = 960
Variable overhead efficiency variance
= (960 - 2,650) × $12.80
= $21,632 unfavourable
How much total interest will she pay over the course of the mortage for this house
Answer:
How are we suppose to know??????
Explanation:
A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 89100 units were started into production in January; and there were 19200 units that were 50% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January?
Answer:
the equivalent units of production for materials for the month of January is 89,100 units
Explanation:
The computation of the equivalent units of production for materials for the month of January is shown below:
= Units completed + completed units in ending inventory
= (89,100 units - 19,200 units) + 19,200 units
= 69,900 units + 19,200 units
= 89,100 units
hence, the equivalent units of production for materials for the month of January is 89,100 units
At the end of May, the following adjustment data were assembled.
a. Insurance expired during May is $275.
b. Supplies on hand on May 31 are $715.
c. Depreciation of office equipment for May is $330.
d. Accrued receptionist salary on May 31 is $325.
e. Rent expired during May is $1,600.
f. Unearned fees on May 31 are $3,210.
Required:
Journalize the adjusting entries.
Answer and Explanation:
The adjusting entries are as follows:
a. Insurance expense $275
To Prepaid insurance $275
(To record the insurance expense)
b. Supplies expense $785 ($1,500 - $715)
To Supplies $785
(To record the supplies expense)
We assume the balance of supplies before adjustment is $1,500
c. Depreciation - office equipment $330
To Accumulated depreciation $330
( To record the depreciation expense)
d. Salary Dr $325
To Accrued salary $325
(To record the accrued salary)
e. Rent expense $1,600
To Prepaid rent $1,600
(To record the rent expense )
f. Unearned fees $790
To Fees revenue $790
(To record the unearned fees is recorded)
We assume the balance of unearned fees before adjustment is $4,000
Therefore, $790 is arrive from
= $4,000 - $3,210
= $790
Big Canyon Enterprises has bonds on the market making annual payments, with 16 years to maturity, a par value of $1,000, and a price of $957. At this price, the bonds yield 9 percent. What must the coupon rate be on the bonds
Answer:
8.48%
Explanation:
Calculation to determine What must the coupon rate be on the bonds
First step is to find the coupon rate of the bond.
Coupon payment = $957 = C(PVIFA9.0%,16) + $1,000(PVIF9.0%,16)
Solving for the coupon payment will give us C= $84.83
Now let calculate the coupon rate using this formula
Coupon rate= Coupon payment/ Par value
Let plug in the formula
Coupon rate = $84.83 / $1,000
Coupon rate = .0848*100
Coupon rate =8.48%
Therefore the coupon rate on the bonds is 8.48%
How much of the difference between the HSIF portfolio and the benchmark portfolio in the previous question is related to the asset allocation decision