Shannon Company segments its income statement into its North and South Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $660,000, 42%, and $13,200, respectively. The North Division’s contribution margin and contribution margin ratio are $119,600 and 46%, respectively. The South Division’s segment margin is $64,000. The company has $105,600 of common fixed expenses that cannot be traced to either division. Required: Prepare an income statement for Shannon Company that uses the contribution format and is segmented by divisions. In addition, for the company as a whole and for each segment, show each item on the segmented income statements as a percent of sales. (Round your percentage answers to 1 decimal place (i.e. 0.1234 should be entered as 12.3).)

Answers

Answer 1

Answer:

The segment income are as follows:

Total Company = $118,800

North Division = $54,800

South Division = $64,000

Explanation:

Note: See the attached excel file for the Segmented Income Statement for Shannon Company.

In the attached excel file, the following notable calculations are done:

North's total sales = $119,600 / 46% = $260,000

South's total sales = $660,000 - $260,000 = $250,000

South's contribution margin = $277,200 - $119,600 = $157,600

Total segment income = Common fixed + Net income = $105,600 + $13,200 = $118,800

From the attached excel file, the segment income are as follows:

Total Company = $118,800

North Division = $54,800

South Division = $64,000


Related Questions

The annual demand for a product is 14,400 units. The weekly demand is 277 units with a standard deviation of 80 units. The cost to place an order is $28.00, and the time from ordering to receipt is eight weeks. The annual inventory carrying cost is $0.10 per unit. a. Find the reorder point necessary to provide a 95 percent service probability. (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places.)

Answers

Answer:

2589.56 units

Explanation:

Given that

Annual Demand = 14400 units

Weekly Demand = 277 units

Standard Deviation = 80 units

Ordering cost = $ 28

Lead Time = 8 weeks

Carrying cost = $ 0.10 / unit

Based on the above information  

a) For a 95 percent service level, the value of z by referring to the Normal Table in Appendix A) is 1.65

The reorder point is computed as follows:

= Weekly Demand × Lead Time + Z × Standard Deviation × √ Lead Time

=277 × 8 + 1.65 × 80 × √8

= 2216+ 373.56

= 2589.56 units

A reduction in inflation would lead to a. more frequent price changes and increased variability of relative prices. b. more frequent price changes and decreased variability of relative prices. c. less frequent price changes and increased variability of relative prices. d. less frequent price changes and decreased variability of relative prices.

Answers

Answer:

d. less frequent price changes and decreased variability of relative prices.

Explanation:

We know that the Inflation is an increase in prices for a period of time that represent the loss in the purchasing power of the consumer. With attached to it, there would be rise in the level of the price that have the high amount of fluctuations in the price

So in the case when there is a decrease in inflation so it would have less frequent change in price and reduction in variability in relative prices as the prices would become stable  

Hence, the option d is correct

Suppose that we want to estimate the effects of alcogol consumption (alcohol) on college grade point average (colGPA. In addition to collecting information on GPAs and alcohol consumption, we also obtain attendance information (percentage of lectures attended, attend). A standardized test score, SAT, and high school GPA (hsGPA) are also available.

a. Should we include attend along with alcohol as explanatory variables in a multiple regression model? (Think about how you would interpret ????alcohol.)
b. Should SAT and hsGPA be included as explanatory variables? Explain.

Answers

You should do it yourself because it’s asking for your opinion not mine so in order for it to be correct it needs to come from you

Identify the simplifying assumptions usually made in net present value analysis.
A. All cash flows other than the initial investment occur at the end of periods.unanswered.
B. All cash flows generated by the investment project are immediately reinvested at a rate of return greater than the discount rate.unanswered.
C. All cash flows generated by the investment project are immediately reinvested at a rate of return equal to the discount rate.
D. All cash flows occur at the beginning of the periods.unanswered.
E. The time value of money is ignored when evaluating investment proposals under the net present value analysis.

Answers

Answer:

All cash flows other than the initial investment occur at the end of periods.

All cash flows generated by the investment project are immediately reinvested at a rate of return equal to the discount rate.

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.

NPV is a capital budgeting method

Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.  

When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable

For example, a project costs 100. the cash flow in year 1 and 2 is $500 each. the discount rate is 10%

the NPV can be calculated using the financial calculator

NPV = $767.77

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

Exercise 12-1 Payback Method [LO12-1] The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows: Year Investment Cash Inflow 1 $ 15,000 $ 1,000 2 $ 8,000 $ 2,000 3 $ 2,500 4 $ 4,000 5 $ 5,000 6 $ 6,000 7 $ 5,000 8 $ 4,000 9 $ 3,000 10 $ 2,000 Required: 1. Determine the payback period of the investment. 2. Would the payback period be affected if the cash inflow in

Answers

Question Completion:

Requirement #2 would the payback period be affected if the cash inflow in the last year were several times as large

Answer:

Unter Corporation

1. Payback period of the investment is:

= 7 years.

2. No. The payback period would not be affected if the cash inflow in the last year were several times as large.  The payback period was reached in the 7th year, which is three years before the last year. No cash inflows after the 7th year will have any impact on the payback period.

Explanation:

a) Data and Calculations:

Cash flows:

Year  Investment  Cash Inflow

1       $ 15,000           $ 1,000

2       $ 8,000          $ 2,000

3                              $ 2,500    

4                              $ 4,000

5                              $ 5,000

6                              $ 6,000

7                              $ 5,000   $25,500

8                              $ 4,000

9                              $ 3,000

10                            $ 2,000

Total  $23,000     $34,500

The following chart represents the cost of producing different amounts of pizza pies in an hour. Quantity of Output1020405070 Workers (L) 2.253.004.105.506.75 Wage Rate per hour$35.00$35.00 $35.00$35.00$35.00 Calculate the cost of producing 40 pizza pies. Round your answer to the nearest hundredths place.

Answers

Answer:

the cost would be $143.50

Explanation:

The computation of the cost of producing 40 pizza pies is shown below:

Cost = no of workers × wage rate per hour

= 4.10 × $35

= $143.50

We simply  multiplied the number of workers with the wage rate per hour so that the cost of generating 40 pizza pies could come

hence, the cost would be $143.50

The same would be considered

What is meant when a company is going through the "refreeze"

Answers

Answer:

Refreezing is the process of fixing these new ideas into the minds of the employees and managers so that they form the new set of beliefs, values, and norms of the organization.

Corporation has two divisions, East and West. The following information was taken from last year's income statement segmented by division:
East Division West Division Sales
$3,700,000 $2,300,000
Contribution margin $1,650,000 $1,000,000
Divisional segment margin $1,100,000 $350,000
Net operating income last year for SegR-7268 Corporation was $600,000. In last year's income statement segmented by division, what were SegR-7268's total common fixed expenses?
a) $2,050,000
b) $850,000
c) $2,300,000
d) $1,200,000

Answers

Answer:

b. $850,000

Explanation:

Divisional Segment Margin = $1,100,000 + $350,000

Divisional Segment Margin = $1,450,000

Net Operating Income = $600,000

Common fixed expenses = Divisional Segment Margin - Net Operating Income

Common fixed expenses = $1,450,000 - $600,000

Common fixed expenses = $850,000

So, SegR-7268's total common fixed expenses will be $850,000.

Which of the following is a true statement? Multiple Choice A fiduciary entity is a legal entity that takes possession of property for the benefit of a person. An estate is a fiduciary that comes into existence upon a person's death to transfer the decedent's real and personal property. A trust is also a fiduciary whose purpose is to hold and administer the corpus for other persons (beneficiaries). An estate exists only temporarily, but a trust may have a prolonged or even indefinite existence. All of the choices are true.

Answers

Answer:

All of the choices are true.

Explanation:

The following statements are considered to be true

a. The fiduciary entity acts as a legal entity in which the possession of the property could be taken so that it would be benefit to the person

b. The estate acts as a fiduciary would come into existence at the time when the death of the person would be convert into the decedent real & personal property

c. The trust acts as a fiduciary in the case when the motive is to be hold

d.  The estate would be existed on temporary basis but the trust would be for non-definite existence

If the cost method is used to account for a long-term investment in common stock:____.
a. it is presumed that the investor has significant influence on the investee.
b. the earning of net income by the investee is considered a proper basis for recognition of income by the investor.
c. net income of the investee is not considered earned by the investor until dividends are declared by the investee.
d. the Investment account may be, at times, greater than the acquisition cost.

Answers

Answer:

net income of the investee is not considered earned by the investor until dividends are declared by the investee

Explanation:

Cost method can be regarded as

a method that is utilized when the influence of the investor over the investment that which he owns is just little or no influence , this could be typically described as owning less than 20% of the company. The investment will be recorded in the asset section of the balance sheet at historical cost. When an investment is made by an investing entity and the investment is having following two criteria, then the investment can be accounted for by the investor using the cost method.

Those criteria are;

1) There is no substantial influence by the investor over the investee.

2)There is no easily determinable fair value for the investment.

This cost method is best method when making a passive as well as long-term investment which doesn't result to influence over the company.

It should be noted that If the cost method is used to account for a long-term investment in common stock, then net income of the investee is not considered earned by the investor until dividends are declared by the investee

Q-01: Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2003, Thomas shipped and billed book titles totaling $760,000. Collections, net of return credits, during the year totaled $690,000. The company spent $300,000 acquiring the books that it shipped. a. Using accrual accounting and the preceding values, show the firm’s net profit for the past year. b. Using cash accounting and the preceding values, show the firm’s net cash flow for the past year. c. Which of these statements is more useful to the financial manager? Why?

Answers

Answer:

Following are the solution to the given question:

Explanation:

For point a:

Total profit =Sales- solding goods cost

[tex]=760,000-300,000\\\\=TK.460,000[/tex]

For point b:

Total Cash flow =Cash receipts-solding goods cost

[tex]=6,90,000-3,00,000\\\\=3,90,000[/tex]

For point c:

The financial management's cash flow report is much more helpful, its net cash flow contains monies that are not collected also, therefore, do not contribute to the owners' assets as a result.

Sedita Inc. is working on its cash budget for July. The budgeted beginning cash balance is $13,000. Budgeted cash receipts total $182,000 and budgeted cash disbursements total $181,000. The desired ending cash balance is $35,000. The excess (deficiency) of cash available over disbursements for July will be:

Answers

Answer:

$14,000

Explanation:

Given the above information,

the excess cash available for Disbursement in July is computed as;

= Budgeted cash receipts total - Budgeted cash disbursement total + Budgeted beginning cash balance

= $182,000 - $181,000 + $13,000

= $14,000

Therefore, the excess(deficiency) of cash available over disbursement in July will be $14,000

how can the South African government stabilize inflation​

Answers


The SARB uses interest rates to influence the level of inflation. National Treasury, in consultation with the SARB, sets the inflation target, which acts as a benchmark against which price stability is measured. The SARB then independently makes monetary policy so as to achieve this target.

frocks and gowns incorporated has two divisions day wear and night wear the day wear division has an investment base of 880,000 and produces and sells 134,500 units of collars at a market price of 12.20 wants to purchase 27,000 units of collars from the day wear division. what is the minimum transfer price that the day wear division would accept for the 27,000 unit order from the night wear

Answers

Question

Frocks and gowns incorporated has two divisions day wear and night wear the day wear division has an investment base of $880,000 and produces (and sells) 134,,500 units of Collars at a market price of $12.20 per unit. Variable costs total $7.80 per unit, and fixed charges are $3.90 per unit (based on a capacity of 140,000 units). The Night Wear Division wants to purchase 27,000 units of Collars from The Day Wear Division. However, the Night Wear Division is only willing to pay $8.45 per unit.

What is the contribution margin for the Day Wear Division without the transfer to the Night Wear Division?

Answer:

The minimum transfer value = $305,200

Explanation:

The company current has an excess capacity of 140,000-134,500=5,500 units

These available quantities can sold at a minimum transfer price of $7.80.

However, the balance of 21,500 (i.e 27,000 minus 5,500) should be transferred at the market price of $12.20. This is so because there is an opportunity cost attached to units supplied which is the contribution to be earned if sold at the market price.

Hence, The 27,000 units should transferred at the value computed below:

                                                             $

First 5,500= $5,500× $7.80=          42,900

The balance of 21,500 × $12.20=   262,300

The total value                                 305,200

The minimum transfer value = $305,200

Saginaw Steel Corporation has a precredit U.S. tax of $110,000 on $505,000 of taxable income. Saginaw has $205,000 of foreign source taxable income and paid $65,000 of income taxes to the German government on this income. All of the foreign source income is treated as foreign branch income for foreign tax credit purposes. Saginaw's foreign tax credit on its tax return will be: (Do not round intermediate calculations. Round your answer to nearest whole dollar amount.)

Answers

Answer: $44654

Explanation:

Based on the information given, the foreign tax credit will be allowed to the amount of the tax that is paid to foreign government which is $65000 which is then subject to the US tax limit that is applicable on that particular income which will be:

= 205000 × 110000/505000

= 44654

Therefore, the tax credit will be the one that's lesser between $65000 and $44654. Therefore the answer will be $44654.

Badgersize Company has the following information for its Forming Department for the month of August.

Work in Process Inventory, August 1: 20,000 units
Direct materials: 100% complete $80,000
Conversion: 20% complete 24,000
Balance in work in process, August 1 $104,000
Units started during August 54,000
Units completed and transferred in August 59,000
Work in process (70% complete), August 31 ?

Required:
a. Calculate the equivalent units for the Forming Department for the month of August.
b. Find the cost per equivalent unit of input resource.

Answers

Question Completion:

Costs incurred in August:

Direct materials $154,000

Conversion costs $264,000

Answer:

Badgersize Company

                                          Materials      Conversion

a. Equivalent units              74,000          69,500

b. Cost per equivalent unit $3.162          $4.144

Explanation:

a) Data and Calculations:

                                            Units      Materials      Conversion      Total

Beginning WIP inventory   20,000       100%              20%

Units started  August        54,000

Total units available          74,000

Transferred out                 59,000

Ending WIP inventory        15,000       100%                70%

Cost of beginning WIP                     $80,000          $24,000       $104,000

Costs incurred in August                 154,000          264,000          418,000

Total production costs                  $234,000        $288,000      $522,000

Equivalent unit             Units      Materials      Conversion

Units transferred out  59,000     59,000          59,000

Ending WIP inventory  15,000      15,000           10,500

Equivalent units                            74,000          69,500

Cost per equivalent unit

Total production costs           $234,000      $288,000

Equivalent units                          74,000          69,500

Cost per equivalent unit         $3.162              $4.144

Direct Materials Variances Silicone Engine Inc. produces wrist-worn tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 550 tablets during December. However, due to LCD defects, the company actually used 500 LCD displays during December. Each display has a standard cost of $6.40. LCD displays were purchased for December production at a cost of $2,950.
Determine the price variance, quantity variance, and total direct materials cost variance for December. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Round your per unit computations to nearest cent, if required.
Price variance $ Unfavorable/favorable
Favorable Quantity variance $ Unfavorable/favorable
Total direct materials cost variance $ Unfavorable/Favorable

Answers

Answer:

Standard price = $6.40

Actual price = $5.90 ($2,950/500)

Standard quantity = 550

Actual quantity = 500

Direct materials price variance = (Actual price - Standard price) * Actual quantity

= ($5.90 - $6.40) * 500

= $0.5 * 500

= $250 Favorable

Direct materials quantity variance = (Actual quantity - Standard quantity) * Standard price

= (500 - 550) * $6.40

= 50 * $6.40

= $320 Favorable

Total direct materials cost variance = Direct materials price variance + Direct materials quantity variance

= $250 Favorable + $320 Favorable

= $570 Favorable

Tiana has strong communication skills, she is a hard worker, and she has a
strong background in math and statistics. What can she do to strengthen her
chances of securing a job as a market research analyst?
A. She can improve her hard skills by working collaboratively with
other people.
B. She can improve her soft skills by pursing a degree in statistics.
C. She can improve her hard skills by learning software used by
market research analysts.
D. She can improve her soft skills by taking extra courses in
computer science.
(a p e x)

Answers

Answer:

did u get the answer?

Explanation:

I'm stuck on it

, determining whether an organization has fulfilled a certain objective is most closely associated with which of the following management functions

Answers

Explanation:

Beureacracy functions

In this type of functions there is institutions that governs what each one does and also the laws and orders are followed to maintain a higher productivity

[The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year Hours Used 1 2,700 2 1,500 3 1,600 4 2,400 5 2,200 6 2,100 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)

Answers

Answer:

University Car Wash

Depreciation Schedule

Date        Cost of Asset      Depreciation     Accumulated         Net book

                                              Expense          Depreciation             Value

Year 1         $258,000          $38,250              $38,250             $219,750

Year 2          258,000            38,250                 76,500                181,500

Year 3          258,000            38,250                 114,750               143,250

Year 4          258,000            38,250               153,000               105,000

Year 5          258,000            38,250               191,250                 66,750

Year 6          258,000            38,250             229,500                28,500

Explanation:

a) Data and Calculations:

Cost of the new washing machines = $258,000

Estimated residual value = $28,500

Depreciable amount = $229,500 ($258,000 - $28,500)

Straight-line annual depreciation expense = $38,250 ($229,500/6)

Estimated useful life = 6 years

Usage in hours = 12,500 hours

Actual use per year:

Year Hours Used

1                  2,700

2                 1,500

3                 1,600

4                2,400

5               2,200

6                2,100

Total       12,500

Suppose the risk-free rate of return is 3.5 percent and the market risk premium is
7 percent. Stock U, which has a beta coefficient equal to 0.9, is currently selling
for $28 per share. The company is expected to grow at a 4 percent rate forever,
and the most recent dividend paid to stockholders was $1.75 per share. Is Stock
U correctly priced? Explain.​

Answers

Answer:

kaya nyo po iyan

Explanation:

nice habbsjsxgjshsbvda

A permanent reduction in inflation would a. permanently reduce the frequency of price changes and permanently lower unemployment. b. permanently reduce the frequency of price changes and temporarily raise unemployment. c. temporarily reduce the frequency of price changes and temporarily lower unemployment. d. temporarily reduce the frequency of price changes and temporarily raise unemployment.

Answers

Answer:

b. permanently reduce the frequency of price changes and temporarily raise unemployment.

Explanation:

In the field of economics, the term 'inflation' may be defined as the rise in the price of an economy for a period of time. When the price level rises or increases, fewer goods can be purchased by each unit of currency. The price of the products increases in the market.

It also affects in the rate of unemployment. But when the inflation is reduce it can temporarily rise the rate of unemployment but it permanently reduces the frequency of the price changes in the economy.

Kuhn does not have any retained earnings available to finance this project, so the firm will have to issue new common stock to help fund it. Its common stock is currently selling for $22.35 per share, and it is expected to pay a dividend of $2.78 at the end of next year. Flotation costs will represent 8% of the funds raised by issuing new common stock. The company is projected to grow at a constant rate of 9.2%, and they face a tax rate of 25%. What will be the WACC for this project

Answers

Answer:

The WACC for this project is 22.72%.

Explanation:

P = common stock current selling price per share = $22.35

D1 = Expected dividend next year = $2.78

F = Floating cost = 8%, or 0.08

g = growth rate = 9.2%, or 0.092

t = tax rate = 0.25

r = Ke = cost of equity

The cost of equity can be calculated using the dividend grow model with the consideration of the effect of the issuance or floating cost that reduces cash collected as follows:

P(1 – F) = D1 / (r – g) ….................... (1)

Substituting the relevant value into equation (1) and solve r as follows:

22.35(1 – 0.08) = 2.78 / (r – 0.092)

22.35 * 0.92 = 2.78 / (r – 0.092)

20.562 = 2.78 / (r – 0.092)

20.562 (r – 0.092) = 2.78

20.562r - 1.891704 = 2.78

20.562r  = 2.78 + 1.891704

20.562r = 4.671704

r = 4.671704 / 20.562

r = 0.2272, or 22.72%

Since there is no information that shows there is a debt, this implies that WACC is equal to the cost of equity. Therefore, we have:

WACC = r = Ke = 22.72

Imagine that two goods are available to you: servants (X) and robots (Y). You like servants three times as much as robots. If your domestic help budget is $4,000 per month, the price (wage) of servants is $1500 per person per month, and the price (rent) of robots is $400 per unit per month, what is the value of the MktRS (market rate of substitution)

Answers

Answer: 3

Explanation:

The marginal rate of substitution simply means the rate at which one good will be exchanged for another good based on the current market price.

Since you like servants three times as much as robots, this implies that the utility that one gets from one servant is exactly like the utility that will be gotten from three robots.

Therefore, the utility function will be:

U = 3X + Y

Then, the marginal rate of substitution will be:

= MUX/MUY

= 3

Rommer Company purchases Daley Inc. for $4,700,000 cash on January 1, 2020. The book value of Daley Company's net assets, as reflected on its December 31, 2019 statement of financial position is $4,000,000. An analysis by Rommer on December 31, 2019 indicates that the fair value of Daley's tangible assets exceeded the book value by $525,000, and the fair value of identifiable intangible assets exceeded book value by $150,000. How much goodwill should be recognized by Rommer Company when recording the purchase of Daley Inc.

Answers

Answer:

$25,000

Explanation:

Calculation to determine How much goodwill should be recognized by Rommer Company when recording the purchase of Daley Inc.

Using this formula

Goodwill=Beginning cash-Ending book value-Fair value tangible assets-Fair value intangible assets

Let plug in the formula

Goodwill=$4,700,000-$4,000,000-$525,000-$150,000

Goodwill=$25,000

Therefore the goodwill that the company should be recognized by Rommer Company when recording the purchase of Daley Inc. $25,000

Employees at Rayon Enterprises earn one day a month of vacation compensation (twelve days total each year). Vacation compensation is paid at an hourly rate of $45, based on an eight-hour work day. Rayon’s first pay period is January. It is now April 30, how much vacation liability has accumulated if the company has four employees and no vacation compensation has been paid?

Answers

Answer: $5760

Explanation:

The accumulated vacation liability is calculated below:

Number of employees = 4

Number of months = 4 Months

Vaccation is based on = 8 hours

Per hour rate = $45

Accumulated Vacation liability will now be:

= 4 × 4 × 8 × $45

= $5,760

Therefore, the amount if vacation liability that has accumulated will be $5,760

The term economic tax incidence refers to Question 8 options: whether buyers or sellers of a good are required to send tax payments to the government. whether the demand curve or the supply curve shifts when the tax is imposed. the distribution of the tax burden between buyers and sellers. widespread view that taxes always will be a fact of life.

Answers

Answer:

the distribution of the tax burden between buyers and sellers.

Explanation:

Tax is a compulsory sum levied by the government on goods and services. it increases the price of goods and services

Economic tax incidence refers to who bears the burden of tax which is dependent on the elasticities of demand of the consumer and the elasticities of supply of the supplier

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

Elasticity of supply measures the responsiveness of supply to changes in price. Supply can be elastic, inelastic or unit elastic

if demand is elastic and supply is inelastic, the burden of tax would be borne by suppliers.

The party between the supplier and the consumer that has a more elastic demand would bear less tax incidence and the party that has a less elastic demand would bear more tax incidence

The general ledger of ABC Corporation as of December 31, 2021, includes the following accounts: Copyrights $50,000 Deposits with advertising agency (will be used to promote goodwill) 30,000 Discount on bonds payable 70,000 Excess of cost over fair value of identifiable net assets of acquired 80,000 Trademarks 90,000 Equity Investments 100,000 Patents 20,000 In the preparation of ABC balance sheet as of December 31, 2021, what should be reported as total intangible assets

Answers

Answer:

$240,000

Explanation:

Calculation to determine what should be reported as total intangible assets

Using this formula

Total intangible assets=Copyrights+Excess of cost over fair value of identifiable net assets of acquired+Trademarks+Patents

Let Plug in the formula

Total intangible assets=$50,000 + $80,000 + $90,000 +$20,000

Total intangible assets=$240,000

Therefore The Amount that should be reported as total intangible assets is $240,000

Question 3 of 10
Which statement best explains why the government's taxing of businesses is
reasonable?
A. By nature, businesses seek their own benefit, not that of society,
and taxes help them make amends for their harm to society.
B. Businesses benefit from the stable, free, fair, competitive market
that is promoted and protected by government activities.
C. The mission of government is to protect itself from any entity that
might grow too powerful, as business would if not taxed.
D. The government has the power to impose taxes according to the
Constitution, and businesses have money to pay taxes.
SUBMIT

Answers

Answer:

B. Businesses benefit from the stable free fair competitive market that is promoted and protected by government activities

Explanation:

A p e x

Can I get help on this job application please ?

Answers

Answer:

The answer is below.

Explanation:

Most likely to do:

"Ask your store Manager if you can hold the markdown price for them so they can get it for the same price when it is back in store."

Doing the above will ensure you retain the customer's trust, and while you didn't direct your customer to a competitor, which is detrimental.

Least Likely to do:

"Offer to provide the address and phone number for the nearest store, and explain that stores get frequent shipments with new items."

Doing the above is detrimental to your store, as you will be sending your customers to a direct competitor.

Other Questions
What are some of the positive things you have heard about mental illness? Solve for the volume of the following figure. anomalous expansion of water Can you help me please and thanks Please answer this I need this to bring up my grade! Ill really appreciate it if you truthfully answered this!!! (BRAINLIEST) Produces little to no Greenhouse GaseGroup of answer choicescoalnuclearnatural gaspetroleum 1. Find the area of the figure below.s=25 m True or False?Unmoving objects are being acted on by balanced forces. Based on this lesson, what can you infer about Hannibal as a general? A. He was a great strategist (one who plans military moves)B. He always fought battles with a larger armyC. He was a quitterD. He was a naval genius Estimate the sum of 1,256, 379 and 305,986 by first rounding each number to the nearest ten thousand. Which description is true of earths four layers? Which of the following is TRUE about sedimentary rock?A. does not contain layersB. May contain fossilsC. the hardest of the rock types A rental car company charges $33 per day to rent a car and $0.12 for everymile driven. Zachary wants to rent a car, knowing that: He plans to drive 400 miles. He has at most $180 to spend.Use the drop-down menu below to write an inequality representing d, thetotal number of days Zachary can rent the car while staying within his budget.d Why has it been difficult to decrease the gap in life expectancy between developing and developed countries?Life expectancy has increased at similar rates.The gap between health care access and quality has increased.Infant mortality rates have remained high in developing countries.Poverty has limited life expectancy in developing countries.Life expectancy has increased faster in developed countries. When there is an increase in temperature of a gas in anenclosed container, the pressure will also increase due to the: Starting from rest, a car takes 2.4 s to travel the first 15 m. Assuming a constant acceleration, how long will it take the car to travel the next 15 m? Why did many people support the Vietnam war and its beginning stages Find the volume of a pyramid with a square base, where the area of the base is16.3 ft2 and the height of the pyramid is 13.7 ft. Round vour answer to the nearesttenth of a cubic foot. Can someone plz help me with this one problem What are the main components of a desktop PC and briefly describe their purposes.