Answer: ($4000)
Explanation:
Based on the information given in the question, the amount that must be added back to taxable income (loss) in calculating their net operating loss, will be:
Dividend income = $16000
Add: Interest income = $14000
Add: Business capital gain = $2000
Less: Business loss = $10000
Less: Itemized deduction = $26000
Taxable loss = ($16000 + $14000 + $2000) - ($10000 + $26000)
= $32000 - $36000
= - $4000
4. What would be the best pricing strategy for a deli opening in a competitive business
district where the lunchtime rush is the bulk of the business? Explain your answer
Answer:
During the times of opening, the business can offer lucrative and attractive discounts and deals such as buy one get one free deals or opening offers or different deals and discounts to gain competitive business advantage.
Explanation:
Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,000 Permanent differences (16,100 ) 162,900 Temporary difference-depreciation (11,100 ) Taxable income $ 151,800 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2020 $ 14,000 As of December 31, 2021 $ 25,100 The enacted tax rate was 27% for 2020 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2021
Answer:
the current portion of the income tax expense is $40,986
Explanation:
The computation of the current portion of the income tax expense is shown below:
= Taxable income × enacted tax rate
= $151,800 × 27%
= $40,986
hence the current portion of the income tax expense is $40,986
We simply applied the above formula
Sheffield Corp. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $24 and Sheffield would sell it for $52. The cost to assemble the product is estimated at $15 per unit and the company believes the market would support a price of $64 on the assembled unit. What decision should Sheffield make
Answer:
Sell before assembly, the company will be better off by $3 per unit
Explanation:
the aim of a firm is to maximise profit. The decision the firm would make would be based on the decision that yields the higher profit
Profit = revenue - cost
Profit that would be earned from selling the unassembled unit = $52 - $24 = $28
Profit that would be earned from selling the assembled unit = $64 - ($15 + $24) = 25
The profit from selling the unassembled product is greater than the profit from selling the assembled product by $3. The firm would prefer to sell the unassembled unit
On December 31, 2014, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 11% is imputed.
Instructions:
Prepare the entries that would be recorded by Oakbrook Inc. for the sale and for the receipts and interest on the following dates. (Assume that the effective-interest method is used for amortization purposes.)
(a) December 31, 2014.
(b) December 31, 2016.
(c) December 31, 2018.
(d) December 31, 2015.
(e) December 31, 2017.
Answer:
(a) December 31, 2014.
Dr Cash 40,000
Dr Notes receivable 80,000
Cr Service revenue 102,049
Cr Discount on notes receivable 17,951
(b) December 31, 2016.
Dr Cash 20,000
Dr Discount on notes receivable 5,376
Cr Notes receivable 20,000
Cr Interest revenue 5,376
(c) December 31, 2018.
Dr Cash 20,000
Dr Discount on notes receivable 1,982
Cr Notes receivable 20,000
Cr Interest revenue 1,982
(d) December 31, 2015.
Dr Cash 20,000
Dr Discount on notes receivable 6,825
Cr Notes receivable 20,000
Cr Interest revenue 6,825
(e) December 31, 2017.
Dr Cash 20,000
Dr Discount on notes receivable 3,768
Cr Notes receivable 20,000
Cr Interest revenue 3,768
These are selected account balances on December 31, 2017.
Land $150,000
Land (held for future use) 225,000
Buildings 1,200,000
Inventory 300,000
Equipment 675,000
Furniture 150,000
Accumulated Depreciation 450,000
What is the total amount of property, plant, and equipment that will appear on the balance sheet?
a. $2,250,000
b. $1,950,000
c. $2,700,000
d. $1,725,000
Answer:
D. $1,725,000
Explanation:
Given the above information,
Total amount of property, plant and equipment = land (location of the office building) + office building + equipment + office furniture - Accumulated depreciation
= $150,000 + $1,200,000 + $675,000 + $150,000 - $450,000
= $1,725,000
The purpose of the equivalent-unit computation is to ________. Group of answer choices satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent-units convert completed units into the amount of partially completed output units that could be made with that quantity of input predict the future production capabilities of the organization use a common metric to estimate the amount of work done on units in a period
Answer:
B)assist the business in determining the cost assigned to ending inventory and work-in-process inventory
Explanation:
THIS IS THE COMPLETE QUESTION BELOW
The purpose of the equivalent-unit computation is to ________.A)convert completed units into the amount of partially completed output units that could be made with that quantity of inputB)assist the business in determining the cost assigned to ending inventory and work-in-process inventoryC)predict the future production capabilities of the organizationD)satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent unit.
, Equivalent units in cost accounting helps to know the amount of material/ laborthat are been tied up in units as far as production is concerned it can be regarded as multiplication of units in production with percentage of units which are complete or with the one that are in process. It should be noted that The purpose of the equivalent-unit computation is to assist the business in determining the cost assigned to ending inventory and work-in-process inventory
An environmental soil cleaning company received a contract to remove BTEX contamination from an oil company tank farm site. The contract required the soil cleaning company to provide quarterly invoices for materials and services provided. If the material costs were $140,000 per quarter and the service charges were calculated as an additional 20% of the material costs, what is the present worth of the contract through the 3-year treatment period at an interest rate of 1% per month
Consider a five-person family consisting of a father, mother, twin 16-year-old sons attending high school, and an 85-year- old grandfather. The grandfather receives Social Security but has no other sources of income. The father and mother provide the majority of the grandfather's financial support because of his expensive in-home medical care. In 2017, before the change in the tax laws, what is the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions
The correct answer to this open question is the following.
Unfortunately, you forgot to attach the options for this question.
However, trying to help, we can say the following.
In 2017, before the change in the tax laws, the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions was $16,000.-
In the federal government taxation regulations periodically changes and adjust to consider new circumstances. That is why the IRS continually makes adjustments.
In December 2017, Congress passed the Jobs Act and Tax Cuts, modifying credits work and tax deductions of American families. Among the most important changes that started to be valid in 2018 was the removal of exemptions. That is why, before this removal of exemptions was valid, the head of the family could get personal exceptions for qualified family members such as the wife and children, or any other dependent.
A large brewing company has its public relations staff create an interactive website aimed at men and women in their 20s and early 30s. It offers interesting facts about the history of beer, the making of beer, the definition of various brewing terms, the difference between hops and malt, etc. It also includes games like crossword puzzles, word jumbles, and trivia contests related to beer. The objective of such PR initiatives is to:
Answer: c. promote goodwill toward beer drinkers.
Explanation:
The purpose of this campaign is to increase the the appreciation of beer and its industry in the minds of people.
This will therefore promote goodwill towards beer drinkers as they will be less ostracised if people appreciate beer more.
This is good for the beer industry because it would increase sales when people who were worried about their pubic image become less worried and drink more.
A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal
utility decreases after the first loaf, how might the baker get her customers to buy more
than one loaf?
Answer: Sell at lower price
Explanation:
Marginal Utility is the amount of satisfaction that her customers will get with every additional unit of bread purchased.
If the marginal utility decreases, her customers will buy less bread because to them, it is not as valuable anymore. If she offers her bread at lower prices, the customers would buy more because the new price will align with the lower utility the customers get from the additional loaves.
The Widget Co. purchased new machinery three years ago for $4 million. The machinerycan be sold to the Roman Co. today for $2 million. The Widget Co.'s current balance sheetshows net fixed assets of $2,500,000, current liabilities of $1,375,000, and net working capitalof $725,000. If all the current assets were liquidated today, the company would receive $1.9million in cash. The book value of the Widget Co.'s assets today is _____ and the marketvalue of those assets is _____.
A. $4,600,000; $3,900,000
B. $4,600,000; $3,125,000
C. $5,000,000; $3,125,000
D. $5,000,000; $3,900,000
E. $6,500,000; $3,900,000
Answer: A. $4,600,000; $3,900,000
Explanation:
Based on the information that have been provided in the question, the book value will be calculated as:
= Net working capital + Current liabilities + Net fixed assets
= $725,000 + $1,375,000 + $2,500,000
= $4,600,000
Market value will be:
= $1,900,000 + $2,000,000
= $3,900,000
Therefore, the answer is option A.
Compare the following sets of message openers. Circle the letter of the opener that illustrates a direct opening. Write an appropriate subject line for each opening paragraph. An e-mail announcing a low-cost day-care program:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
b. For several years we have studied the possibility of offering a day-care option for those employees who are parents. until recently, our management team was unable to agree on the exact parameters of this benefit, but now some of you will be able to take advantage of this option.
Answer:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
Explanation:
Subject line: HR orientation regarding new day-care program.
The problem with message (b) is that it is not direct and includes a lot of information that should go further down the email, not as an opener. Information regarding previous options or how difficult this project do not belong here.
Bryant leased equipment that had a retail cash selling price of $750,000 and a useful life of six years with no residual value. The lessor spent $605,000 to manufacture the equipment and used an implicit rate of 8% when calculating annual lease payments of $150,219 beginning January 1, the beginning of the lease. Lease payments will be made January 1 each year of the lease. Incremental costs of consummating the lease transaction incurred by the lessor were $22,500. What is the effect of the lease on the lessor’s earnings during the first year, not including any effect of depreciation no longer required on the asset under lease (ignore taxes)? (Input decreases to income as negative amounts. Round Interest revenue to the nearest whole dollar.)
Answer: $170,482.48
Explanation:
Effect of lease:
= Sales - Cost of goods sold (cost to manufacture) + Interest revenue - Selling expense
Interest revenue = (Selling price - Interest paid) * Interest rate
= (750,000 - 150,219) * 8%
= $47,982.48
Effect of lease = 750,000 - 605,000 + 47,982.48 - 22,500
= $170,482.48
Question 10 of 10
Which of the following is a true statement based upon the principle of the
time value of money?
A. The value of money does not increase or decrease as time
passes.
B. Money loses value over time if not used.
C. It is always best to receive money at a later point in time rather
than an earlier point in time.
O D. Money increases in value as time passes so long as it is not
invested.
Answer:
B. Money loses value over time if not used.
Explanation:
Money loses value over time and the reason why is inflation.
Inflation is the general increase in the price of the goods and services within an economy. Inflation causes money to lose value over time if not used because it reduces the purchasing power of money. This is why money should be used if it is not to be spent, mainly as a form of investment with the goal of earning an interest rate that is higher than inflation, or at least, equal to inflation.
Answer:
B. Money loses value over time if not used.
Explanation:
Money loses value over time and the reason why is inflation. Inflation is the general increase in the price of the goods and services within an economy. Inflation causes money to lose value over time if not used because it reduces the purchasing power of money. This is why money should be used if it is not to be spent, mainly as a form of investment with the goal of earning an interest rate that is higher than inflation, or at least, equal to inflation.
Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 7%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 0.50%, which are deducted from portfolio assets at year-end. a. What is the net asset value at the start and end of the year
Answer:
Missing word "What is the Rate of return"
a. Asset at the end of the year = (Asset at the start of the year + Increase in value) * 12b-1 charges
Asset at the end of the year = ($219 million+ ($219 million * 7%)) * (1-0.50%)
Asset at the end of the year = ($219 million + $15.33 million) * 0.9950
Asset at the end of the year = $234.33 million * 0.9950
Asset at the end of the year = $233.16 million
Net asset value at the end of the year = Asset at the end of the year / Number of shares
Net asset value at the end of the year = $233.15835 million / 12 million
Net asset value at the end of the year = $19.430
b. Rate of return = (Net asset value at the end of the year + dividend per share - Net asset value at the start of the year) / Net asset value at the start of the year
Rate of return = ($19.430 + ($6 / 12) - $18.250) / $18.250
Rate of return = ($19.430 + $0.50 - $18.250) / $18.250
Rate of return = $1.68 / $18.250
Rate of return = 9.20%
A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 160 units $ 350 June 10 220 units 580 June 15 220 units 700 June 28 130 units 560 $2190 A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the average-cost method, the amount allocated to the ending inventory on June 30 is
Answer:
cap
Explanation:
1. Gross domestic product is
a. the total value of all goods produced in a year.
b. the total value of all final goods and services produced in a year.
c. the total value of all services produced in a year.
d. none of the above.
During 2020 the Pharoah Company had a net income of $85100. In addition, selected accounts showed the following changes: Accounts Receivable $2700 increase Accounts Payable 900 increase Buildings 3900 decrease Depreciation Expense 1400 increase Bonds Payable 7900 increase What was the amount of cash provided by operating activities
Answer:
Cash provided by operating activities $84,700
Explanation:
The computation of the amount of cash provided by operating activities is shown below:
Net income $85,100
Add: depreciation expense $1,400
Less: increase in account receivable -$2,700
Add: Increase in account payable $900
Cash provided by operating activities $84,700
Creating a Multimedia Presentation to Demonstrate Knowledge of Agriculture, Food, and Natural Resource Careers For this assignment, you will create a multimedia presentation on Agriculture, Food,
and Natural Resources tasks and work environments to demonstrate understanding
of these careers.
Useful references for gathering this information will be listed at the end of this
document. Your presentation should include a title slide, thirteen slides representing
tasks and work environments for specific Agriculture, Food, and Natural Resource
careers, and a works cited slide.
Assignment Instructions
Step 1: Gather materials and necessary information.
a) Use resources listed at the end of this document to create your multimedia
presentation for Agriculture, Food, and Natural Resource careers.
b) Be sure to keep a list of your references so you can cite them later.
c) Ask your teacher where you should save your presentation as you work on it.
Your teacher may also have specific guidelines about the file name you
should use.
Step 2: Create your title slide.
a) Begin by creating the title slide. On this slide, include the title of your
presentation, your name, your teacher’s name, and the due date of the presentation.b) Remember to save your work as you go.
Step 3: Provide information for Farmworkers and Laborers, Crop careers.
a) Create a slide titled Common Tasks for Farmworkers and Laborers, Crop.
b) Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop
that are listed as common tasks on the O*NET site. Add a picture of at least one of
these tasks to the slide.
c) Create a slide titled Common Work Activities for Farmworkers and
Laborers, Crop.
d) Create a bulleted list describing four work activities for Farmworkers and Laborers,
Crop that are listed as common work activities on the O*NET site. Add a picture of
at least one of these work activities to the slide.
e) Create a slide titled Common Work Contexts for Farmworkers and
Laborers, Crop.
f) Create a bulleted list describing work contexts for Farmworkers and Laborers,
Crop that are listed as common work contexts on the O*NET site. Add a picture of
at least one of these common work contexts to the slide.
Step 4: Provide information for Forester careers.
a) Create a slide titled Common Tasks for Foresters.
b) Create a bulleted list describing four tasks for Foresters that are listed as common
tasks on the O*NET site. Add a picture of at least one of these tasks to the slide.
c) Create a slide titled Common Work Activities for Foresters.
d) Create a bulleted list describing four work activities for Foresters that are listed as
common work activities on the O*NET site. Add a picture of at least one of these
work activities to the slide.
e) Create a slide titled Common Work Contexts for Foresters.
f) Create a bulleted list describing work contexts for Foresters that are listed as
common work contexts on the O*NET site. Add a picture of at least one of these
common work contexts to the slide.
Step 5: Provide information for Nursery and Greenhouse Managers.
a) Create a slide titled Common Tasks for Nursery and Greenhouse Managers.
Answer:
Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop that are listed as
common tasks on the O*NET site.
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Create a bulleted list describing four work activities for Farmworkers and Laborers, Crop that are listed
as common work activities on the O*NET site.
the slide.
• Handling and moving objects.
• Preforming general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Create a bulleted list describing work contexts for Farmworkers and Laborers, Crop that are listed as
common work contexts on the O*NET site.
to the slide.
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Create a bulleted list describing four tasks for Foresters that are listed as common tasks on the O*NET
site.
• Monitor contract compliance and results of forestry activities to assure adherence to
government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Create a bulleted list describing four work activities for Foresters that are listed as common work
activities on the O*NET site.
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Create a bulleted list describing work contexts for Foresters that are listed as common work contexts on
the O*NET site.
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Create a bulleted list describing four tasks for Nursery and Greenhouse Managers that are listed as
common tasks on the O*NET site.
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Create a bulleted list describing four work activities for Nursery and Greenhouse Managers that are
listed as common work activities on the O*NET site.
to the slide.
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Create a bulleted list describing work contexts for Nursery and Greenhouse Managers that are listed as
common work contexts on the O*NET site.
to the slide.
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Create a bulleted list describing four tasks for Veterinarians that are listed as common tasks on the
O*NET site.
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Create a bulleted list describing four work activities for Veterinarians that are listed as common work
activities on the O*NET site.
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Create a bulleted list describing work contexts for Veterinarians that are listed as common work
contexts on the O*NET site.
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation: hope this helps this is what I got
Answer:
“Architecture and Construction Workplaces and Tasks”
Four tasks for Farm workers and Laborers
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Four work activities for Farm workers and Laborers
• Handling and moving objects.
• Performing general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Work contexts for Farm workers and Laborers
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Four tasks for Foresters
• Monitor contract compliance and results of forestry activities to assure adherence to government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Four work activities for Foresters
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Work contexts for Foresters
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Four tasks for Nursery and Greenhouse Managers
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Four work activities for Nursery and Greenhouse Managers
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Work contexts for Nursery and Greenhouse Managers
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Four tasks for Veterinarians
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Work activities for Veterinarians
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Work contexts for Veterinarians
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation:
this is exactly what i turned in !!!! hope it helps
Ana and Shen need to decide which one of them will need to take time off work to complete the rather urgent task of shearing their llamas. Ana is pretty good with a pair of shears; she can shear the llamas in one hour. Shen is somewhat slow; it takes him six hours to shear the llamas. Ana earns $120 per hour as a business consultant, while Shen earns $15 per hour as a lifeguard.
Keeping in mind that either Ana or Shen must take time off work to shear the llamas, who has the lowest opportunity cost of completing the task?
A. Ana
B. Shen
C. Ana and Shen face identical opportunity costs
Answer:
B
Explanation:
We have to consider the opportunity cost of both parties
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
If Ana chooses to shear, she would be forgoing an income $120
If Shen chooses to shear for 6 hours, she would be forgoing an income ($15 x 6) = 90
Shen has a lower opportunity cost and should shear
Duncan, Inc.'s unadjusted book balance showed cash balance of $1,763 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $427, deposits in transit of $831, NSF check of $195, and interest earned on the bank account of $15, the company's up-to-date ending cash balance equals:$_____
Answer:
the up-to-date ending cash balance is $2,167
Explanation:
The computation of the up-to-date ending cash balance is shown below:
= Cash balance + deposit in transit - outstanding checks
= $1,763 + $831 - $427
= $2,167
Hence the up-to-date ending cash balance is $2,167
We simply applied the above formula
Huelskamp Corporation has provided the following data concerning its overhead costs for the coming year: The company has an activity-based costing system with the following three activity cost pools and estimated activity for the coming year: The Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining costs. The distribution of resource consumption across activity cost pools is given below: The activity rate for the Assembly activity cost pool is closest to:
Answer:
$2.85 per labor hours
Explanation:
Note: Full question is attached below as picture
Total Overhead = Wages + Depreciation + Rent
Total Overhead = (360,000*25%) + (120,000*15%) + (180,000*35%)
Total Overhead = $90,000 + $18,000 + $63,000
Total Overhead = $171,000
Activity rate = Total Overhead / Assembly
Activity rate = $171,000 / 60,000
Activity rate = $2.85 per labor hours
ire Corporation distributes property (basis of $225,000, fair market value of $300,000) to a shareholder in a distribution that is a qualifying stock redemption. The property is subject to a liability of $160,000 that the shareholder assumes. Determine the basis of the property to the shareholder.
Answer:
$300,000
Explanation:
The fair market value of the property is the basis in property received in a qualifying stock redemption to shareholder which is $300,000.
So, $300,000 is the amount that will serve as the basis of the property to the shareholder.
Which of the statements is not true about a bank run? Fears leading to bank runs can be self-fulfilling. There was a wave of bank runs during the Great Depression. Bank runs are bad for the bank affected and usually good for the bank's competitors. Deposit insurance is designed to reduce the risk of bank runs for depository banks. Since the Great Depression the government has set up regulation that has eliminated most bank runs.
Answer:
Bank runs are bad for the bank affected and usually good for the bank's competitors
Explanation:
A bank run happens when bank depositors withdraw their money deposited due to fear of the bank's solvency.
Bank runs can work as a self fulfilling prophecy. For example, if there a rumour that a bank is insolvent and it is not, depositors would start withdrawing their monies. This would eventually lead to the bank being insolvent.
Bank runs affect other banks and can lead to the collapse of the whole financial system. Bank runs occurred during the great depression
Bank runs led to the establishment of deposit insurance. The aim of deposit insurance is to increase the confidence of depositors in banks because depositors know their deposits are insured
Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes Group of answer choices a price and a subject. a duration and a termination. specific quality standards. an offer and an acceptance.
Answer:
an offer and an acceptance.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In this scenario, Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes an offer and an acceptance.
Market Inc. has two divisions, Talbot and Heather. Following is the income statement for the past month: Talbot Heather Total Sales$280,000 $168,000 $448,000 Variable Costs 168,000 67,000 235,000 Contribution Margin 112,000 101,000 213,000 Fixed Costs (allocated) 112,500 67,500 180,000 Profit Margin$(500) $33,500 $33,000 What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable
Answer:
$(79,000)
Explanation:
Calculation to determine What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable
Using this formula
Market's profit margin =Contribution margin - Fixed costs
Let plug in the formula
Market's profit margin=$101,000-$180,000
Market's profit margin=$(79,000)
Therefore What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable is $(79,000)
tumutukoy sa tuwirang pagsupil sa diwang makabayan sat pagkat aaklas ng mga pilipinas laban sa mga amerikano
Answer:
Pilipinasyonhopefully help:)
Explanation:
#CarryOnLearningWhich of the following is not true about emergency funds?
O They help remove the worry about expenses not listed in the budget.
O They help you prepare for unexpected expenses.
O They are used for anything listed in the budget.
O They can keep you from borrowing money from friends and family members.
Emergency funds are typically set aside to cover unexpected expenses that are not included in the regular budget. The statement "They are used for anything listed in the budget" is not true about emergency funds. Hence, option C is the correct answer.
These expenses may include medical emergencies, car repairs, home repairs, job loss, or any unforeseen financial hardships. The purpose of an emergency fund is to provide a financial safety net for unexpected situations that can disrupt one's financial stability.
On the other hand, expenses listed in the budget are part of the regular planned expenses, such as rent or mortgage payments, groceries, utilities, transportation, and other recurring costs.
Hence, option C is the correct answer.
Learn more about emergency funds here:
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Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs Variable $ 40 per unit Fixed $ 6,600,000 (per year) Selling and administrative costs for the year Variable $ 725,000 Fixed $ 4,250,000 Production and sales for the year Units produced 110,000 units Units sold 80,000 units Sales price per unit $ 350 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing
Answer:
Results are below.
Explanation:
Absorption vs Variable costing method
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
1) First, we need to calculate the total unitary variable cost:
Unitary production variable cost= 35 + 55 + 40= $130
Selling and administrative costs for the year Variable $ 725,000
Unitary total variable cost= 130 + (725,000 / 80,000)= $139.06
Now, the variable income statement:
Sales= 80,000*350= 28,000,000
Total variable cost= (80,000*139.06)=(11,124,800)
Total contribution margin= 16,875,200
Fixed overhead= (6,600,000)
Fixed Selling and administrative costs = (4,250,000)
Net operating income= 6,025,200
2) First, we need to calculate the unitary production cost:
Unitary production cost= 130 + (6,600,000/110,000)= $190
Now, the absorption costing income statement:
Sales= 28,000,000
COGS= 80,000*190= (15,200,000)
Gross profit= 12,800,000
Total Selling and administrative costs= (725,000 + 4,250,000)= (4,975,000)
Net operating income= 7,825,000
ecause of coronavirus, demand for Vitamin C tablets increased significantly at CVS. CVS started to observe a weekly demand of 85 boxes of Vitamin C tablets with a standard deviation of 50 boxes. The cost of placing an order is $200, and the time from ordering to receipt is 4 weeks. The procurement cost (wholesale price) of the product is $15. The annual inventory carrying cost is 10% of the procurement cost of the product. What is the reorder point if it wants to achieve a stock out probability of 5%
Answer:
505 boxes approximately
Explanation:
The weekly demand is = d = 85 boxes
Standard deviation s = 50
Cost of placing order = $200
Ordering time = lead time L = 4 weeks
Stock out probability = 5% = 1-0.05 = 0.95
The reorder point has this formula:
(D*L)+(Z*s*√L)
To get the value of Z we use this excel function NORMSINV(0.95) = 1.644853672
When we put in values into the formula we have:
(85x4)+(1.644853672x50x2)
= 340 + 164.485
= 504.5
Approximately 505 boxes