Answer:7.4%
Explanation: In December 2017, the CPI stood at 246.5 up from 229.6 in December 2012. This is a 7.4% increase [(246.5-229.6) /229.6] *100=7.4
Please help!
Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. According to O*NET, what are common work contexts for Film and Video Editors? Check all that apply.
(1) extremely bright or inadequate lighting
(2) spend time sitting
(3) exposed to disease or infections
(4) indoors, environmentally controlled
(5) face-to-face discussions
(6) deal with physically aggressive people
Answer:
BCD is wrong on Edge 2021.| The real Answer is BDE... (Edit)
Explanation:
Using resources from comments on the anwser above (or below) and the bad rating meant that is was wrong. And was also wrong for me.
The REAL ANWSER IS BDE..
Your welcome, have a nice day!
5/28/2021
Which of the following statements describes the cost of capital?
A. The interest rate the bank charges its best customers.
B. The internal rate of return on investments.
C. The maximum acceptable rate of return on investments.
D. The minimum rate of return on investments.
Answer: The minimum rate of return on investments.
Explanation:
The cost of capital simply refers to the particular rate of return that a certain company expects to get from a certain investment that it does.
The cost of capital is the minimum rate of return which must be earned by a certain business before the generation of value.
The cost of capital therefore is the minimum rate of return on investments. It is the return which a company is expected to pay both the creditors and also the investors.
Find the amount to which $600 will grow under each of these conditions: 8% compounded annually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded semiannually for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded quarterly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded monthly for 3 years. Do not round intermediate calculations. Round your answer to the nearest cent. $ 8% compounded daily for 3 years. Assume 365-days in a year. Do not round intermediate calculations. Round your answer to the nearest cent.
Answer:
Future values:
a. $755.83
b. $759.19
c. $760.95
d. $762.14
e. $762.75
Explanation:
a) Data and Calculations:
Present value = $600
Conditions:
1. 8% compounded annually for 3 years:
N (# of periods) = 3
I/Y (Interest per year) = 8
PV (Present Value) = $600
PMT (Periodic Payment) = $ 0
FV = $755.83
Total Interest = $155.83
2. 8% compounded semiannually for 3 years.
N (# of periods) = 6
I/Y (Interest per year) = 4
PV (Present Value) = $600
PMT (Periodic Payment) = $ 0
FV = $759.19
Total Interest $159.19
3. 8% compounded quarterly for 3 years.
N (# of periods) = 12
I/Y (Interest per year) = 2
PV (Present Value) = $600
PMT (Periodic Payment) = $ 0
FV = $760.95
Total Interest $160.95
4. 8% compounded monthly for 3 years.
N (# of periods) = 36
I/Y (Interest per year) = 0.66667%
PV (Present Value) = $600
PMT (Periodic Payment) = $0
FV = $762.14
Total Interest = $162.14
5. 8% compounded daily for 3 years. Assume 365-days in a year.
N (# of periods) = 1,095
I/Y (Interest per year) = 0.02192%
PV (Present Value) = $600
PMT (Periodic Payment) = $0
FV = $762.75
Total Interest $162.75
For each of the following situations, decide whether the unemployment that occurs is a result of cyclical, frictional, or structural changes.
Items (7 items) (Drag and drop into the appropriate area below)
A new college graduate takes three months to find his first job.
Two hundred automobile workers lose their jobs as a result of a permanent reduction in the demand for automobiles.
Large numbers of workers lose their jobs as the economy goes into a downturn.
A financial analyst quits her current job to look for a better one
Answer:
frictional
structural changes.
Cyclical
frictional
Explanation:
Structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition . Structural unemployment tends to be permanent.
Frictional unemployment is the period of time a person is unemployed from the time he leaves his current job and the time he gets another job.
Cyclical unemployment occurs as a result of fluctuations in the economy. In a downturn unemployment is high and in a boom, unemployment is low.
The Converting Department of Hopkinsville Company had 640 units in work in process at the beginning of the period, which were 70% complete. During the period, 13,600 units were completed and transferred to the Packing Department. There were 720 units in process at the end of the period, which were 25% complete. Direct materials are placed into the process at the beginning of production.
Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0".
Hopkinsville Company
Number of Equivalent Units of Production
Whole Units Direct Materials Equivalent Units Conversion Equivalent Units
Inventory in process, beginning
Started and completed
Transferred to Packing Department
Inventory in process, ending
Total
Answer:
Whole units 14,320
Direct materials equivalent units 13,680
Conversion costs equivalent units 13,332
Explanation:
Calculation to Determine the number of equivalent units of production with respect to direct materials and conversion costs.
Hopkinsville Company Number of Equivalent Units of Production
WHOLE UNITS
Inventory in process, beginning 640
Started and completed 12,960
(13,600-640)
Transferred to Packing Department 13,600
(640+12,960)
Inventory in Process ending 720
Total 14,320
(13,600+720)
DIRECT MATERIALS EQUIVALENT UNITS
Inventory in process, beginning 0
Started and completed 12,960
(13,600-640)
Transferred to Packing Department 12,960
Inventory in Process ending 720
Total 13,680
(12,960+720)
CONVERSION EQUIVALENT UNITS
Inventory in process, beginning 192
[640-(640*70%)]
Started and completed 12,960
(13,600-640)
Transferred to Packing Department 13,152
(192+12,960)
Inventory in Process ending 180
(720*25%)
Total 13,332
(13,152+180)
A corporation is concerned about their exposure to criminal liability after the most recent election cycle placed a number of new legislators in Congress who campaigned against corporate corruption. Select the strategy that would be least effective in reducing the company's criminal liability.
A. It could prioritize ethical leadership when making hiring decisions for management-level positions.
B. It could encourage reporting by establishing internal protections for whistleblowers beyond what is provided by Congressional law.
C. It could strengthen its code of ethics to reflect the current political mood.
D. It could donate to the election campaigns of the new members of Congress to establish goodwill.
Answer:
The strategy that would be least effective in reducing the company's criminal liability is:
D. It could donate to the election campaigns of the new members of Congress to establish goodwill.
Explanation:
While the other three options will effectively reduce the company's criminal liability exposure, option D is the least that is likely to have a positive or effective effect. This implies that option D is most likely to aggravate the criminal liability of the company as it will be regarded as bribery to cover up a crime.
During Compute the number of equivalent units with respect to both materials and conversion respectively for March using the weighted-average method. Multiple Choice, the production department of a process operations system completed and transferred to finished goods 20,000 units that were in process at the beginning of March and 100,000 units that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 54% complete with respect to conversion. At the end of March, 29,000 additional units were in process in the production department and were 100% complete with respect to materials and 29% complete with respect to conversion. Compute the number of equivalent units with respect to both materials and conversion respectively for March using the weighted-average method.
Answer:
Computing the equivalent units using the weighted-average method:
Materials Conversion
Total equivalent units 129,000 108,410
Explanation:
a) Data and Calculations:
Beginning inventory = 20,000 units
Degree of completion (Materials 100%, Conversion 54%)
Units started and completed in March = 100,000
Units transferred out = 120,000
Ending inventory = 29,000 units
Degree of completion (Materials 100%, Conversion 29%)
Total equivalent units Materials Conversion
Units started & completed 100,000 (100%) 100,000 (100%)
Units in Ending Inventory 29,000 (100%) 8,410 (29%)
Total equivalent units 129,000 108,410
b) In computing the equivalent units of production, the weighted-average method takes into account the units started and completed within the period and the ending work in process. This is unlike the FIFO method, which considers the units completed in the beginning work-in-process during the current period, the units started and completed, and the ending work-in-process inventory based on their various degrees of completion.
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018.
Complete the necessary journal entry to record the declaration of the stock dividend by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns
list Journal entry worksheet
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding On December 31, 2018, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018
Note Enter debit before credits
Date General Journal Debit Credit
Dec 31
Record entry Clear entry View General journal
Answer:
1. Dec 31, 2018
Dr Retained Earnings $200,000
Cr Common Stock dividend distributable $40,000
Cr Paid in Capital in Excess of par $160,000
2. Jan 15 , 2019
No Journal Entry is required
3. Jan 20 , 2019
Dr Common Stock dividend distributable $40,000
Cr Common Stock $40,00
Explanation:
Preparation of the necessary journal entry to record the declaration of the stock dividend
1. Dec 31, 2018
Dr Retained Earnings $200,000
(100,000 Shares * 20%* $ 10)
Cr Common Stock dividend distributable $40,000
(100,000 Shares * 20%* $2)
Cr Paid in Capital in Excess of par $160,000
($ 200,000 - $ 40,000 )
2. Jan 15 , 2019
No Journal Entry is required
3. Jan 20 , 2019
Dr Common Stock dividend distributable $40,000
Cr Common Stock $40,000
(100,000 Shares * 20%* $2)
We have a graduated tax system, and the tax brackets are listed in Appendix A. If you are not familiar with the Fair Tax and Flat Tax ideas, do a little research. Share what you think would be best for our country.
Explanation:
i think the graduated tax system is fairest ,it imposes a higher rate on the rich than the poor and all this is done based on the tax payer if this is done it will help the poor to pay for needs such as shelter food and other personal needs it allows the poor to spend most of they money
Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,942 beginning one year from the date of the agreement. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Determine the interest rate implicit in this agreement. (Do not round intermediate calculations. Round interest rate to 1 decimal place.)
Answer:
5%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
The interest rate implicit in the agreement can be determined by finding the internal rate of return.
Cash flow in year 0 = $-196,401
Cash flow each year from year 1 to 7 = $33,942
IRR = 5%
To find the IRR 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 IRR button and then press the compute button.
Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $1,125. Fragmental collected the entire $9,000 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Co. on December 31 would be:
Answer:
Debit unearned rent for $3,375
........Credit rent revenue for $3,375
Explanation:
The adjusting entry made by Fragmental Co. on December 31 is calculated as;
Number of months from October 1st to December 31st = 3 months
Rent revenue earned for 3 months = $1,125 × 3 = $3,375
Therefore, the adjusting entry would be;
Debit unearned rent for $3,375
..........Credit rent revenue for $3,375
The adjusting entry made by Fragmental Co. on December 31 would be a debit to Unearned Rent and a credit to Rent Revenue for $3,450. The correct option is d.
$3,450 in unearned rent a/c Dr.
$3,450 in rent revenue.
Unearned rent is deducted because it is the company's liability. The value of unearned rent is reduced due to the company's adjustment of unearned rent into rent income, and a fall in the value of unearned rent is always debited because it is a liability.
Rent revenue is credited since it is a company revenue/gain, and all company revenue/gains are always recognised in the books of accounts.
Learn more about rent revenue, here:
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The question is incomplete, but the complete question most probably was:
Fragmental Co. leased a portion of its store to another company for eight months beginning on October 1, at a monthly rate of $1,150. Fragmental collected the entire $9,200 cash on October 1 and recorded it as unearned revenue. Assuming adjusting entries are only made at year-end, the adjusting entry made by Fragmental Co. on December 31 would be:
Multiple Choice
a)A debit to Rent Revenue and a credit to Cash for $3,450.
b)A debit to Rent Revenue and a credit to Unearned Rent for $3,450.
c)A debit to Cash and a credit to Rent Revenue for $9,200.
d)A debit to Unearned Rent and a credit to Rent Revenue for $3,450.
e)A debit to Unearned Rent and a credit to Rent Revenue for $5,750
Lyon Manufacturing Company produces products A, B, C, and D through a joint process. The joint costs amount to $100,000. Product Units Produced Sales Value at Split-Off Additional Costs of Processing Sales Value After Processing A 1,500 $10,000 $2,500 $15,000 B 2,500 $30,000 $3,000 $35,000 C 2,000 $20,000 $4,000 $25,000 D 3,000 $40,000 $6,000 $45,000 If B is processed further, profits will: Group of answer choices
Answer:
Increase by $2,000.
Explanation:
Calculation to determine what the profit will be if B is processed further,
First step is to calculate the Inremental Revenue
Inremental Revenue,=
$35,000 - $30,000
Inremental Revenue = $5,000
Now let calculate B profit if processed further
Using this formula
B profit if processed further=Inremental Revenue- Incremental Cost
Let plug in the formula
B profit if processed further=$5,000-$3,000
B profit if processed further= $2,000 Increase
Therefore If B is processed further, profits will Increase by $2,000.
In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at $6, (2) 470 units at $8, and (3) 570 units at $9. Assuming there are 270 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Wildhorse Co. uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount
Answer:
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620
Explanation:
First determine the units sold
Units Sold = Total Purchases - Units in hand
= 1,410 units - 270 units
= 1,140
Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.
FIFO
Means First in First Out
Cost of the ending inventory = 270 x $9.00 = $2,430
LIFO
Means Last in First Out
Cost of the ending inventory = 270 x $6.00 = $1,620
Conclusion
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620
15. Consider a no-load mutual fund with $400 million in assets, 50 million in debt, and 15 million shares at the start of the year; and $500 million in assets, 40 million in debt, and 18 million shares at the end of the year. During the year investors have received income distributions of $0.50 per share, and capital gains distributions of $0.30 per share. Assuming that the fund carries no debt, and that the total expense ratio is 0.75%, what is the rate of return on the fund
Answer:
12.09%.
Explanation:
Calculation to determine the rate of return on the fund
First step is to calculate the beginning year NAV
Beginning year NAV = ($400 million assets - 50 million debt) / 15 million shares
Beginning year NAV = 23.33
Second step is to calculate the ending year NAV
Ending year NAV = ($500 million assets - (500*0.75% expense) - 40 million debt] / 18 million shares
Ending year NAV =[456.25/18 million shares]
Ending year NAV =25.35
Now let calculate the return using this formula
Return = (Ending NAV -beginning NAV + Capital gain + income) / Beginning NAV)
Let plug in the formula
Return = (25.35-23.33+0.30+0.50)/23.33
Return = 12.09%
Therefore the rate of return on the fund is 12.09%
Required information
[The following information applies to the questions displayed below.]
A + T Williamson Company is making adjusting entries for the year ended December 31 of the current year. In developing information for the adjusting entries, the accountant learned the following: A two-year insurance premium of $6,960 was paid on October 1 of the current year for coverage beginning on that date. The bookkeeper debited the full amount to Prepaid Insurance on October 1. At December 31 of the current year, the following data relating to Shipping Supplies were obtained from the records and supporting documents.
Shipping supplies on hand, January 1 of the current year Purchases of shipping supplies during the current year Shipping supplies on hand, counted on December 31 of the current year 20
Required:
1. Record the adjusting entry for insurance at December 31 of the current year. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Required information Journal entry worksheet Record the adjusting journal entry for insurance premium of $4,800 on December 31 of the current year. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
2. What amount should be reported on the current year's income statement for Insurance Expense? For Shipping Supplies Expense? (Do not round intermediate calculations.) Insurance expense Shipping supplies expense
3. What amount should be reported on the current year's balance sheet for Prepaid Insurance? For Shipping Supplies? (Do not round intermediate calculations.) Prepaid insurance Shipping supplies
Answer:
Missing word
"Shipping supplies on hand, January 1 of the current year $13
Purchases of shipping supplies during the current year $75
Shipping supplies on hand, counted on December 31 of the current year $20"
1. Adjusting entry for insurance at December 31 of the current year.
S/n General Journal Debit Credit
a. Insurance expense $870
(6,960/24)*3=$ 600
Prepaid insurance $870
(Insurance expired)
b. Shipping supplies expenses $68
($13+$75-$20)
Shipping supplies $68
(Supplies used)
2. What amount should be reported on the current year's income statement for Insurance Expense?
Insurance expense = $870
Shipping supplies expense = $68
3. What amount should be reported on the current year's balance sheet for Prepaid Insurance?
Prepaid insurance = ($6,960-$870) = $6,090
Shipping supplies as on Dec 31. = $20
Categorize each of the following items as an S-strength, W-weakness, O-opportunity, or T-threat. " WALMART SWOT ANALYSIS"
Established Name Brand
Low Prices-Low Cost Leadership
Unfair Employment Practices
Pressures Suppliers on Cost
Recession
Other big box retailers-Target
Small Towns
International Markets
Products Made in China
Product Safety
Large Purchases –Buy in Bulk
Internet Retailing
Customer Base
No Urban Locations
Health Care for Employees
Global Presence
Price Competition
Product Quality
Customer service
Distribution/Logistics System
One Stop Shop
In 15 Countries—not in Europe except for United Kingdom
Sam’s Club
Minimum Wage Laws
Rising Labor Costs in China
Healthcare Costs
12% Lower Grocery Prices
Litigation by employees
Target Superior Merchandising Capability
Community Resistance
Home Delivery of Goods
Growth of Aldi Food Chain-Europe/North America
Poor Working Conditions
Dollar stores
Online Retailers
Answer:
Established Name Brand - S - Brings in more customers
Low Prices(Low Cost Leadership ) - S - Retaining customers
Unfair Employment Practices - T - Negatively affects the brand image
Pressures Suppliers on Cost - S - Have bargaining power on suppliers
Recession - T - Can bring down customer spending
Other big box retailers(Target) - T - Competition
Small Towns - O - Not many players
International Markets - O - Growth prospects
Products Made in China - O - Lower prices
Product Safety - S - Retaining customers
Large Purchases (Buy in Bulk) - S - Cost savings
Internet Retailing - O - New growth opportunity
Customer Base - S - Large customer base
No Urban Locations - O - Opportunity to expand
Health Care for Employees - S - Employee satisfaction
Global Presence - S - Large customer base
Price Competition - O - Best in industry
Product Quality - Retaining customers
Customer service- S - Retaining customers
Distribution/Logistics System - S - Lower costs
One Stop Shop - S - Retaining customers
In 15 Countries—not in Europe except for United Kingdom - Opportunity to grow in Europe
Sam’s Club - O - Customer loyalty
Minimum Wage Laws - T - Higher costs
Rising Labor Costs in China - T - Higher costs
Healthcare Costs - T - Higher costs
12% Lower Grocery Prices - S - Cost leadership
Litigation by employees - T - Negatively affects the brand image
Target Superior Merchandising Capability - O - Competition
Community Resistance - T - Negatively affects the brand image
Home Delivery of Goods - O - Growth prospects
Growth of Aldi Food Chain-Europe/North America - T - Competition
Poor Working Conditions - T - Negatively affects the brand image
Dollar stores - T - Competition
Online Retailers - T - Competition
A company called Brightline has made a deal with Disney to create a rail station at Disney Springs on its planned route from Miami to Tampa. Read about this. Is a private rail link a good idea? Will it make Amtrak function any better? Will it create openings for private sector rail owner/operators as was the case in the USA before Amtrak and as is the case in the UK where not all rail services are BritRail?
Answer:
The answer for all three questions is yes.
A private player will increase competition and will make Amtrak provide a better service. Private companies are generally more efficient since their focus is on creating value.
Amtrak might benefit since the private rail might be used as additional help when their service is overloaded.
Increased competition and increase in private investment is always better for everyone since it creates new opportunities.
Flash City Inc. manufactures small flash drives and is considering raising the price by 75 cents a unit for the coming year. With a 75-cent price increase, demand is expected to fall by 7,000 units. Current Projected Demand 78,000 units 71,000 units Selling price $9.00 $9.75 Incremental cost per unit $6.80 $6.80 Would you recommend the 75-cent price increase
Answer:
Yes, reason been that operating profits increase
Explanation:
Calculation to determine whether
Incremental analysis you would recommend the 75-cent price
Current Projected
Incremental revenue $702,000 $692,250
(78,000 units*$9.00=$702,000)
(71,000*$9.75=$692,250)
Incremental cost -$537,200 -$482,800
(78,000 units*$6.80=$537,200)
(71,000*$6.80=$482,800)
Incremental Profit (loss) $164,800 $209,450
($702,000-537,200)
($692,250-$482,800)
Profit increase by($209,450 -$164,800)
Profit increase by= $44,650
Based on the above calculation I would recommend the 75-cent price increase reason been that operating profits increase.
In 2020, Henry Jones works as a freelance driver, finding customers using various platforms like Uber and Grubhub. He is single and has no other sources of income. In 2020, Henry's qualified business income from driving is $61,200. Assume Henry takes the standard deduction of $12,400. Click here to access the 2020 individual tax rate schedule to use for this problem. Assume the QBI amount is net of the self-employment tax deduction. Compute Henry's QBI deduction and his tax liability for 2020.
Answer:
Henry's QBI deduction = $9,760
Henry's taxable income = $39,040
Henry's tax liability = $4,487.30
Explanation:
QBI deduction = (AGI - standard deduction) x 20% = ($61,200 - $12,400) x 20% = $9,760
total taxable income = $61,200 - $12,400 - $9,760 = $39,040
tax liability = $987.50 + [12% x ($39,040 - $9,875)] = $987.50 + $3,449.80 = $4,487.30
which of the following qualities that will help you succeed in the work place
Answer:
1. Leadership Skills you have to know how to take charge of something going on.
2. Oraganizing being organized is important becuase it shows the people around you that you have everything in order.
3. verbal communications Knowing how to speak to co- workers and coustumers you have to be clear so you can have good coustumer service.
4. Listening skills are very important that's how you understand the coustumers.
Explanation:
At the beginning of April, Owl Corporation has a balance of $11,500 in the Retained Earnings account. During the month of April, Owl had the following external transactions.
1. Issue common stock for cash, $10,000.
2. Provide services to customers on account, $7,000.
3. Provide services to customers in exchange for cash, $1,700.
4. Purchase equipment and pay cash, $6,100.
5. Pay rent for April, $1,200.
6. Pay employee salaries for April, $2,000.
7. Pay dividends to stockholders, $1,250.
Required:
Using the external transactions above, compute the balance of Retained Earnings at April 30. (Decreases should be entered as a negative.)
Answer: $15,750
Explanation:
Retained earnings are profits so will be increased by sales and services provided and reduced by expenses.
They will also be reduced by dividends because that is where dividends are paid from:
Retained earnings = Opening balance + service for customers + service for customers - rent - employee salaries - dividends
= 11,500 + 7,000 + 1,700 - 1,200 - 2,000 - 1,250
= $15,750
Instructions: Please prepare a Balance Sheet on your scratch paper based on the following Adjusted Trial Balance and Additional Information below to answer this question and the next three (3) questions.
(Hint: you may also want to prepare a new Income Statement and Statement of Stockholders' Equity before preparing the Balance Sheet to make sure you have the necessary information for the Balance Sheet account balances.)
You will need to know the amounts for total current assets, total long-term assets, total current liabilities, total long-term liabilities, and total stockholders' equity.
Adjusted Trial
Balance As of 12/31/20xx
Accounts Debit Credit
Cash $25,486
Prepaid Rent 5,700
Supplies 4,400
Building 100,000
Accumulated Depreciation $6,000
Accounts Payable 1800
Deferred Revenue 1,300
Notes Payable (due in 24 months 80,486
Common Stock 2,100
Retained Earnings 46,400
Dividends 4,000
Service Revenue 12,400
Rent Expense 900
Supplies Expense 3,000
Utility Expense 1,000
Depreciation Expense 6,000
Totals $150,486 $150,486
Additional Information:
Beginning Balance of Common Stock on 1/1/20xx $2.100
Beginning Balance of Retained Earnings on 1/1/20xx $46,400
No new stock was issued during the accounting period. .
Hint: Please remember the formula for retained earnings when preparing this statement
Question: What is the amount shown for Total Current Assets shown on the Classified Balance Sheet you prepared on your scratch paper?
Answer:
a) Balance Sheet as of December 31, 20xx:
Assets:
Cash $25,486
Prepaid Rent 5,700
Supplies 4,400
Total current assets $35,586
Building 100,000
Acc. Depreciation (6,000) $94,000
Total assets $129,586
Current Liabilities:
Accounts Payable $1,800
Deferred Revenue 1,300
Total current liabilities $3,100
Notes Payable (due in
24 months 80,486
Total liabilities $83,586
Common Stock 2,100
Retained Earnings 43,900 46,000
Total liabilities and equity $129,586
b) Total current assets = $35,586
Explanation:
a) Data and Calculations:
Adjusted Trial
Balance as of 12/31/20xx
Accounts Debit Credit
Cash $25,486
Prepaid Rent 5,700
Supplies 4,400
Building 100,000
Accumulated Depreciation $6,000
Accounts Payable 1,800
Deferred Revenue 1,300
Notes Payable (due in 24 months 80,486
Common Stock 2,100
Retained Earnings 46,400
Dividends 4,000
Service Revenue 12,400
Rent Expense 900
Supplies Expense 3,000
Utility Expense 1,000
Depreciation Expense 6,000
Totals $150,486 $150,486
Additional data:
Beginning Balance of Common Stock on 1/1/20xx $2,100
Beginning Balance of Retained Earnings on 1/1/20xx $46,400
Income Statement for the year ended December 31, 20xx
Service Revenue $12,400
Rent Expense 900
Supplies Expense 3,000
Utility Expense 1,000
Depreciation Expense 6,000 10,900
Net Income 1,500
Statement of Stockholders' Equity:
Beginning Common Stock on 1/1/20xx $2,100
Beginning Retained Earnings on 1/1/20xx 46,400
Net Income 1,500
Dividends (4,000)
Ending Equity balance on 12/31/20xx $46,000
Retained Earnings on 12/31/20xx:
Beginning Retained Earnings on 1/1/20xx 46,400
Net Income 1,500
Dividends (4,000)
Retained Earnings on 12/31/20xx $43,900
g Kally goes to the grocery store each week looking to purchase items that will give her as much utility as possible, given her $100 budget. Last week apples were priced at $4.50 each, and Kally purchased 3 apples. This week apples are on sale for $2.50 each, while all other prices have remained the same, and Kally chooses to purchase 7 apples. Given this information, plot Kally's demand curve for apples.
Answer:
Please check the attached image for the graph
Explanation:
The demand curve is a curve that shows the various quantities of a good that is purchased at different prices.
The demand curve is downward sloping due to the inverse relationship between price and quantity demanded. The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is known as the law of demand.
It can be seen that the quantity demanded of apples increased from 3 to 7 when price reduced to $2.50
On the demand curve, price is on the vertical axis, while quantity demanded is on the horizontal axis
An example of two way communication
Answer:
Radio, telephone, and computer-aided dispatch systems etc.
Explanation:
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Partnership records show the following capital balances at the date of Hopkin's withdrawal: M. Hammel, $80,000; D. Hopkins, $210,000; and P. Houghton, $100,000. The three partners share income and loss equally. On December 31, Hopkins withdraws and agrees to take $230,000 cash in settlement of her capital balance. Prepare the December 31 journal entry for the partnership. Prepare the December 31 journal entry for the partnership.
Answer:
Dr D. Hopkins, Capital 210,000
Cr P. Houghton, Capital 10,000
Cr M. Hammel, Capital 10,000
Cr Cash 230,000
Explanation:
Preparation of the December 31 journal entry for the partnership.
Based on the information given the December 31 journal entry for the partnership will be :
Dr D. Hopkins, Capital 210,000
Cr P. Houghton, Capital 10,000
(100,000-80,000/2)
Cr M. Hammel, Capital 10,000
(100,000-80,000/2)
Cr Cash 230,000
Lyman Company has the opportunity to increase annual credit sales $100,000 by selling to a new, riskier group of customers. The expenses of collecting credit sales are expected to be 15 percent of credit sales. The company's manufacturing and selling expenses are projected at 70% of sales, and its effective tax rate is 40%. If Lyman accepts this opportunity, its after-tax profits would increase by an estimated:_____.
a. $10,200.
b. $10,000.
c. $9,000.
d. $14,400.
Answer:
Option c ($9,000) is the correct answer.
Explanation:
The given values are:
Annual increase in sales,
= $100,000
Now,
The collection expenses will be:
= [tex]100,000\times 15 \ percent[/tex]
= [tex]15,000[/tex]
Selling as well as manufacturing expenses will be:
= [tex]100,000\times 70 \ percent[/tex]
= [tex]70,000[/tex]
Tax expense will be:
= [tex]15,000\times 40 \ percent[/tex]
= [tex]6,000[/tex]
After-tax profits increase will be:
= [tex]15,000-6,000[/tex]
= [tex]9,000[/tex] ($)
If I buy options contracts for a year out is that profitable instead of day trading/swing trading? Because day trading or swing trading is usually hard to predict but we know when long-term good stocks are always going the upside and with the leverage, an option contract has it could make more than just buying shares. So Buying options contracts a year out is good or not?
Answer:
Active traders often group themselves into two camps: the day traders and the swing traders. Both seek to profit from short-term stock movements (versus long-term investments), but which trading strategy is the better one? Here are the pros and cons of day trading versus swing trading.
A trader wishes to know the cost of goods sold during the year.
Which financial statment will provide the answer? *
A Balance sheet
B Profit and loss Account
C Trading Account
D Trial Balance
The market for bell peppers is perfectly competitive and currently has an equilibrium price of $3 and the number of bell pappers traded is 6. Suppose the government imposes a price floor of $1 on this market. What will be the size of the shortage in this market
Well, the price would increase by 1 dollar, so the shortage would be 2 less.
There should be no shortage.
What is a price floor?
It is the minimum price where the producer should charge also at the same time it should be binding and considered effective. In the case when the price floor should be above the equilibrium price so it should be the surplus while on the other hand if the price floor is below the equilibrium price so that means it is no surplus. Also, the shortage is not possible
Learn more about price here: https://brainly.com/question/15913986
Why are the incentives of a supplier the opposite of the incentives of a demander
Answer:
The incentives of a supplier are the opposite of the incentives of a demander because it is a relationship whose nature makes supply and demand inversely proportional to each other: the higher the supply, the lower the demand for each product and the lower its price; While the lower the supply, the greater the demand for each product and the higher its price. Thus, in many cases, suppliers seek to restrict supply to maximize profits, while demanders seek to lower prices through a greater quantity of goods offered.