Answer: Increase / Gain of $36,000
Explanation:
Remeasurement loss, which arises from conversions of the various currencies used by the company to a functional currency, goes to the Income statement and is subtracted from the Net income.
Translation gains on the other hand, are added to the Other Comprehensive income.
The other comprehensive income will therefore increase by the translation gain of $36,000.
Every night after working the swing shift, Sierra stops by the 24-Store near her house. She often buys bread, cold cuts, and Dr. Pepper while she's there even though the prices at the 24-Store are higher than at her local supermarket. The 24-Store is an example of a __________.
Answer:
convenience store
Explanation:
Convenience store is basically a small shop that usually works as small retail shop that keeps every item of daily use and is easily reachable.
The items kept in stock here include coffee, groceries, snack foods, mil and dairy products, stationary etc.
Since it is convenient for people to buy every day product from these shops it is called as Convenience store
Selena Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows: The activity rate under the activity-based costing system for Supporting Customers is closest to: Multiple Choice $18.53 $46.33 $21.67 $65.00
Answer:
the activity rate for Supporting Customers is $21.67
Explanation:
The computation of the activity rate under the activity-based costing system for Supporting Customers is shown below;
= Estimated overhead cost ÷ Total expected activity
= $26,000 ÷ 1,200
= $21.67
hence, the activity rate for Supporting Customers is $21.67
Therefore the third option is correct
When a company sells property and then leases it back, any gain on the sale should usually bea. deferred and recognized as income over the term of the lease.b. recognized as a prior period adjustment.c. recognized at the end of the lease.d. recognized in the current year.
Answer: A. deferred and recognized as income over the term of the lease.
Explanation:
In a sale-leaseback transaction, that is when a property is sold by a company and leased back, the property seller is the lessee and the property purchase is the lessor. In this case, a sale-leaseback will allow a company to sell an asset so that the company can raise capital, after which the asset can then be leader back.
When a company sells property and then leases it back, any gain on the sale should usually be deferred and recognized as income over the term of the lease.
The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that actually cost $45140 were used to produce 7200 units of product. The direct materials quantity variance for last month was $8800 favorable. $8800 unfavorable. $6100 unfavorable. $6600 favorable.
Answer:
$8,800 favourable
Explanation:
The computation of direct material quantity variance is seen below;
= Standard price × ( Standard quantity - Actual quantity)
= $4 × [(2 gallons × 7,200 units) - 12,200 gallons)
= $4 (14,400 gallons - 12,200 gallons)
= $4 × 2,200 gallons
= $8,800 favorable
Therefore, the direct materials quantity variance for last month is $8,800 favourable
When a bus with a seating capacity of 50 passengers is carrying on 40 passengers. The cost of passenger ticket is Rs. 100. What would be the Marginal Cost of carrying one additional passenger
Answer:
4.1
Explanation:
Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for organization costs. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $6 cash per share.Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded
Answer:
Date Account Title Debit Credit
April 1 Cash $780,000
Common stock $300,000
Paid in Capital in excess of par - $480,000
Common stock
Working
Cash = 60,000 shares * 13 = $780,000
Common stock = 60,000 * 5 = $300,000
__________________________________________________________
Date Account Title Debit Credit
April 1 Organization costs - Attorney fees $27,500
Common Stock $10,000
Paid in Capital in excess of par - $17,500
Common stock
Working
Common stock = 2,000 * 5 par value = $10,000
__________________________________________________________
Date Account Title Debit Credit
April 1 Cash $6,000
Preferred stock $1,000
Paid in Capital in excess of par - $5,000
Common stock
Working
Cash = 1,000 * $6 = $6,000
Preferred stock = 1,000 * $1 = $1,000
Harry and Wanda were married in Texas, a community property state, but moved to Virginia, a common law state. The calculation of their income on a joint return: a.Will increase as a result of changing their state of residence. b.Will not change as a result of changing their state of residence. c.Will decrease as a result of changing their state of residence. d.Will not be permitted.
Answer:
b.Will not change as a result of changing their state of residence.
Explanation:
Moving from a community property state to a common law state doesn't affect federal taxes while filing as a married couple. Community property states laws regarding assets acquired while two people are married; they are owned by both spouses. While in common law states, the spouse that purchased an asset is the owner.
Cullumber Co. processes jam and sells it to the public. Cullumber leases equipment used in its production processes from Marin, Inc. This year, Cullumber leases a new piece of equipment from Marin. The lease term is 5 years and requires equal rental payments of $15,000 at the beginning of each year. In addition, there is a renewal option to allow Cullumber to keep the equipment one extra year for a payment at the end of the fifth year of $13,000 (which Cullumber is reasonably certain it will exercise). The equipment has a fair value at the commencement of the lease of $75,077 and an estimated useful life of 7 years. Marin set the annual rental to earn a rate of return of 7%, and this fact is known to Cullumber. The lease does not transfer title, does not contain a bargain purchase option, and the equipment is not of a specialized nature. Click here to view factor tables. How should Cullumber classify this lease
Answer: Cullumber should classify this lease as a financial lease
Explanation:
Financial Leasing is a method of financing whereby a the lessor buys asset on the lessee whom is the customer.
The above is a financial lease due to:
1. With regards to the property's estimated economic life the lease term is about 75% or more.
2. At the end of the lease term, the asset will have no alternative use to the lessor.
3. The present value with regards to the minimum lease payments is not reflected in the lease payments.
If Smith believes the economy is self-regulating, then Smith a. is less likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulating. b. will believe that wages are inflexible downward, too. c. will believe that there is zero crowding out, too. d. is more likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulati
Answer:
The correct answer is the option A: Is less likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulating.
Explanation:
On the one hand, in the macroeconomics theory when it comes to terms of self-regulating it means that the economy does not need the intervention of the government in order to act properly and satisfy everyone in it.
On the other hand, when it comes to expansionary policy the term is most likely to belong to a situation in where the government does intervene in the economy and therefore that it will try to expand the taxes or other fiscal rates that will improve the collection of the state itself.
And that is why that if Smith believes in self-regulating economies then he will not be in favor of a expansionary fiscal policy in a recessionary gap because he will believe that the economy will fix itself in the right time.
Considering the macroeconomic theory, if Smith believes the economy is self-regulating, then Smith "is less likely to advocate expansionary fiscal policy when the economy is in a recessionary gap than Jones, who believes the economy is not self-regulating."
This is because when the economy is self-regulating, regardless of how the economy is currently, the economy will revert to normal sooner without the government trying to change the situation.
Thus, in a situation whereby there is a recessionary gap, someone who believes that the economy is self-regulating would be less likely to advocate expansionary fiscal policy.
Expansionary fiscal policy is the policy that injects more money supply into the economy.
The recessionary gap occurs when the economy functions below the average rate, usually due to a low money supply.
Hence, in this case, it is concluded that a correct answer is an option. A.
Learn more here: https://brainly.com/question/24139116
During 2020, Royce has an adjusted gross income (AGI) of $40,000. What is the maximum amount Royce can deduct for qualified contributions charitable made to qualified organizations if he itemizes his deductions? A. $0 B. $10,000 C. $24,000 D. $40,000
The maximum amount Royce can deduct for qualified contributions charitable made to qualified organizations is Option C. $24,000.
The calculation is as follows;Contributions to charity as the deduction is limited to 60% of adjusted gross income.
But qualified contributions are not subject to this limitation.
Since AGI = $40,000
So,
Deduction as charitable contribution should be
[tex]= \$40,000 \times 60\%[/tex]
= $24,000
Learn more: brainly.com/question/16911495
Based on Royce's Adjusted Gross Income (AGI), the amount that Royce can deduct is D. $40,000.
When a person is deducting for charity, charity contributions are capped at 60% of AGI.
If these contributions are qualified contributions however, they will not be subject to this cap and so can be deducted entirely from the AGI.
In conclusion, Royce can deduct $40,000.
Find out more about qualified contributions at https://brainly.com/question/25995915.
Assume you own a churro stand. Also assume the next unit of labor that you hire produces 16 churros per hour, and the next machine you could buy makes 21 churros per hour, Assuming you were seeking to expand churro production, which should you as a profit-maximizing firm hire next
Answer: Not enough information because the cost of each resource is not given.
Explanation:
With regards to the question, there's no enough information given in order to know the factor to hire next as a profit-maximizing firm.
Even though from the question given, the machine can make more churros per hour than the next unit of labor, the coat of both resources isn't given, therefore we cannot be certain on which one to choose.
According to the video, what do many Accountants and Auditors decide to do?
specialize in a specific area
volunteer in schools to teach finance
become Managers later in their careers
take writing classes
Answer:
specialize in a specific area is the correct answer.
Explanation:
Answer:
its A
Explanation:
got it right on edge
When a stock price breaks through the moving average from below, this is considered to be ______.A. the starting point for a new moving averageB. a bullish signalC. none of these options D. a bearish signal
Answer: a bullish signal
Explanation:
The question depicts a bullish signal. A bullish signal describes an indicator when there's likely to be an increase in price.
An example of a bullish indicator occurs when there's a huge number of margin transactions, as this implies that investors are buying and thus will then bring about an increase in prices.
Therefore, the correct option is B.
Assume that Bank A holds total reserves of $978, the required reserves are $432 and total deposit is $3,600. If the government purchases bonds worth $250 from Bank A, excess reserves of this bank will increase by _____.
Answer:
$37.92
Explanation:
546
If fixed costs are $821,000 and variable costs are 63% of sales, what is the break-even point in sales dollars
Answer:
Break-even point (dollars)= $2,218,919
Explanation:
Giving the following information:
Fixed costs= $821,000
Variable costs rate= 63%
If the variable cost rate is 63%, then the contribution margin rate is:
Contribution margin ratio= 1 - 0.63
Contribution margin ratio= 0.37
Now, the break-even point in sales revenue:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 821,000 / 0.37
Break-even point (dollars)= $2,218,919
Star Wars Cereal started a program at the beginning of 2021 in which it would provide a figurine of Baby Yoda in exchange for four proof-of-purchase box tops. Star Wars Cereal estimates that 40% of box tops will be redeemed. The Baby Yoda figurines cost Yummy Rice $1.20 each. In 2021, 5,480,000 boxes of cereal were sold. By year-end 912,000 box tops had been redeemed.
Required:
Calculate the premium expense that Star Wars Cereal should recognize for the year ended December 31, 2021.
Answer:
sorry here for points
Explanation:
Using a dividend discount model, what is the value of a stock that pays an annual dividend of $5 that is not expected to grow, and the discount rate is 10%? What will be the value of the stock if the dividend is expected to grow 5% per year?
Answer:
a. Value of the stock without growth rate
= D1 / (r - g)
= $5 / (10% - 0)
= $5 / 10%
= $5 / 0.10
= $50
b. Value of the stock with growth rate
= D1 / (r - g)
= $5 / (10% - 5%)
= $5 / 5%
= $5 / 0.05
= $100
Suppose the required reserve ratio is 15%. A $10 million deposit will, at most, allow an expansion of the money supply to $250 million. $150 million. $147.5 million. $66.7 million.
Answer:
$66.7 million
Explanation:
Calculation to determine expansion of the money supply
Using this formula
Money supply expansion=Deposit/Required reserve ratio
Let plug in the formula
Money supply expansion=$10 million/.15
Money supply expansion=$66.66 million
Money supply expansion=$66.7 million (Approximately)
Therefore A $10 million deposit will, at most, allow an expansion of the money supply to $66.7 million
Cliff Co. wants to purchase a machine for $42,000, but needs to earn a return of 11%. The expected year-end net cash flows are $14,000 in each of the first three years, and $18,000 in the fourth year. What is the machine's net present value
Answer:
54 percent
Explanation:
National Geographic Magazine brought a bit of nature to New York as part of a week-long event promoting the magazine's cover story on parks. The magazine hosted an interactive photography exhibit, which celebrated international and national parks. Invitations to representatives of the news media were an attempt to use which element of the promotional mix?
Answer:
public relations
Explanation:
Promotional mix is the combination of various promotional methods by a business to meet its set goals.
It is made up of the following elements: advertising, sales promotion, public relations, personal selling, and direct marketing.
In the given scenario an invitation to news media to attend an interactive photography exhibit, which celebrated international and national parks is an attempt to improve the public relations of the event.
The news media is expected to publicise the event thereby meeting the Magazine's public relations need.
Select the correct answer.
The Bauhaus art movement emphasized simple, easily reproducible designs using basic materials. Who founded this art movement?
A.
Gerrit Reitveld
B.
Piet Mondrian
C.
Walter Gropius
A compliance-based approach to ethics management combines a concern for law with an emphasis on managerial responsibility for ethical behavior. True False
Answer:
False
Explanation:
The question is false, since the approach described in the question refers to the concept of integrity-based ethics.
The compliance-based approach to ethics management refers to the rules and guidelines that individuals must comply with as employees of a particular company. Compliance ensures that organizational legislation is strictly enforced, based on prevention, detection and punishment for employees who do not follow it in accordance with the regulations and policies of a company.
Baskin-Robbins is one of the world’s largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfat Espresso ’n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021.
Salaries expense $12,400 Sales revenue $63,300
Inventory (July 1, 2021) 1,650 Interest income 2,000
Sales returns 1,100 Cost of goods sold 28,050
Utilities expense 2,950 Rent expense 5,400
Income tax expense 4,700 Interest expense 400
Inventory (July 31, 2021) 1,100
Required:
a. Prepare a multiple-step income statement for the month ended July 31, 2015.
b. Calculate the inventory turnover ratio for the month of July. Would you expect this ratio to be higher or lower in December 2015? Explain.
c. Calculate the gross profit ratio for the month of July.
Answer:
yes
Explanation:
yes
Both production lines can produce all the different types of nozzles. The bronze machines needed for the bronze sprinklers require four operators and can produce up to 15,000 sprinklers. The plastic injection molding machine needed for the plastic sprinklers requires five operators and can produce up to 240,000 sprinklers. Three bronze machines and only one injection molding machine are available. What are the capacity requirements for the next four years
Answer:
Demand for plastic sprinklers for year 1 Year 2 Year 3 and Year 4 is 98 (33 + 14 + 51) , 111 , 133, 136.
Explanation:
The Production line capacity requirement for the next four years will be equal to the demand for the next four years. The production line needs to meet the annual demand for the plastic sprinklers. The production line is extended and economies of scale is introduced with helps the company save additional cost of extension in the production line.
A(n) ________ bank is an institution, such as Credit Suisse First Boston, that acts as an underwriter or agent for a firm engaged in an initial public offering.
Answer:
Public bank
Explanation:
A public bank is a bank, or a financial institution where a state, municipality would be the owners also it is an entrerprise that are controlled by the government
So as per the given situation the given boston would be acted as an underwriter and engaged in the initial public offering so this represent the public bank
hence, the same would be relevant
The following information is provided for Oriole Company and Sheffield Corporation. (in $ millions) Oriole Company Sheffield Corporation Net income 2022 $155 $370 Net sales 2022 1365 4830 Total assets 12/31/20 1035 2270 Total assets 12/31/21 1290 3150 Total assets 12/31/22 1170 4080 What is Oriole's return on assets for 2022
Answer:
13.25 %
Explanation:
Return on assets measures the firm`s effectiveness in generating profit with its assets.
Return on assets = Net income / Total Assets x 100
therefore,
Oriole's return on assets for 2022 = $155 / $1170 x 100
= 13.25 %
In the short run, any fall in EP /P, regardless of its causes, will cause A) an upward shift in the aggregate demand function and an expansion of output. B) an upward shift in the aggregate demand function and a reduction in output. C) a downward shift in the aggregate demand function and an expansion of output. D) an downward shift in the aggregate demand function and a reduction in output. E) an upward shift in the aggregate demand function but leaves output intact.
Answer: D) an downward shift in the aggregate demand function and a reduction in output.
Explanation:
EP/P is the real exchange rate. Any fall in this rate will mean that the demand will decrease because the currency becomes weaker and is therefore unable to buy as much as it used to.
For that same reason, output will reduce because producers will find that the inputs to production will become more expensive which would mean that they have to produce less in order to maintain profitability.
The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 9,400 direct labor-hours will be required in February. The variable overhead rate is $8.60 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $127,840 per month, which includes depreciation of $18,290. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for February should be: Multiple Choice $19.90 per direct labor-hour $22.20 per direct labor-hour $13.60 per direct labor-hour $8.60 per direct labor-hour
Answer:
Predetermined manufacturing overhead rate= $22.2 per direct labor hour
Explanation:
Giving the following information:
Fixed manufacturing overhead= $127,840 per month
Estimated direct labor hours= 9,400
The variable overhead rate is $8.60 per direct labor hour
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (127,840 / 9,400) + 8.6
Predetermined manufacturing overhead rate= $22.2 per direct labor hour
g Mickey Company provided the following information for the year 2020: Retained earnings, beginning balance: $125,000 Retained earnings, ending balance: $147,000 Dividends Payable, beginning balance: $95,000 Dividends Payable, ending balance: $84,000 If Mickey Company reported a net income of $78,000 for the year, what was the amount of dividends paid during the year
Answer:
$56,000
Explanation:
Ending Retained Earnings = Opening Retained Earnings + Net Income - Dividends
therefore,
Dividend = Opening Retained Earnings + Net Income - Ending Retained Earnings
thus
Dividend = $56,000
Suppose that the Central Bank of the country of Keynesland decreases the supply of money; at the same time, the governmet of Keynesland passes a new investment tax credit. How would each policy affect the aggregate demand (AD)
Answer: a. The money supply decrease would shift the AD to the left; the new investment tax credit would shift AD to the right.
Explanation:
If the money supply is decreased, it means the amount of money available in the economy for people to buy goods and services will reduce. When this happens, people will demand less because they have less cash. This will end up pushing the demand curve to the left.
When an investment tax credit is declared however, companies will feel more inclined to invest in the economy because they will pay less tax. As they invest more, people will be employed and will increase their spending thereby pushing the AD curve to the right.