The following transactions occurred at several different businesses and are not related. Post the following transactions into the appropriate T-accounts

a. Serena Hamilton, an owner, made an additional investment of $42,000 in cash.
b. A firm purchased equipment for $20,000 in cash.
c. A firm sold some surplus office furniture for $3,400 in cash.
d. A firm purchased a computer for $3,700, to be paid in 60 days.
e. A firm purchased office equipment for $22,400 on credit.
f. The amount is due in 60 days. James Taylor, owner of Taylor Travel Agency, withdrew $12,000 of his original cash investment.
g. A firm bought a delivery truck for $38,500 on credit; payment is due in 90 days.
h. A firm issued a check for $7,200 to a supplier in partial payment of an open account balance

Answer:

T-accounts:

a. Cash Account

Account Titles         Debit    Credit

Common Stock    $42,000

Common Stock

Account Titles         Debit    Credit

Cash                                 $42,000

b. Equipment

Account Titles         Debit    Credit

Cash                    $20,000

Cash

Account Titles         Debit    Credit

Equipment                     $20,000

c. Cash

Account Titles         Debit    Credit

Office Furniture                  $3,400

Office Furniture

Account Titles         Debit    Credit

Cash                     $3,400

d. Computer

Account Titles         Debit    Credit

Accounts payable $3,700

Accounts payable

Account Titles         Debit    Credit

Computer                            $3,400

e. Office Equipment

Account Titles         Debit    Credit

Accounts payable $22,400

Accounts payable

Account Titles         Debit    Credit

Office Equipment            $22,400

f. James Taylor, Capital

Account Titles         Debit    Credit

Cash                                 $12,000

Cash

Account Titles         Debit    Credit

James Taylor,

 Capital                $12,000

g. Delivery Truck

Account Titles         Debit    Credit

Accounts payable $38,500

Accounts payable

Account Titles         Debit    Credit

Delivery Truck     $38,500

h. Accounts payable

Account Titles         Debit    Credit

Cash                       $7,200

Cash

Account Titles         Debit    Credit

Accounts payable               $7,200

Explanation:

a) Data and Analysis:

a. Cash $42,000 Common Stock $42,000

b. Equipment $20,000 Cash $20,000

c. Cash $3,400 Office Furniture $3,400

d. Computer $3,700 Accounts payable $3,400

e. Office Equipment $22,400 Accounts payable $22,400

f. James Taylor, Capital $12,000 Cash $12,000

g. Delivery Truck $38,500 Accounts payable $38,500

h. Accounts payable $7,200 Cash $7,200

Scott was a member of the seven-person board of directors of Buffalo Corporation. Officers of that corporation were considering a large purchase of new equipment to begin production of a completely new product line. The board of directors had not been consulted about the new venture, but Scott found out about the plan and objected to it being implemented. He sought to inspect the corporate books and records to gain factual information supportive of his position. The officers refused his inspection request, asserting that Scott had no management function or power. Under these circumstances, Scott: _________

a. has the right to inspect corporate books only if he is also a majority shareholder.
b. is barred from examination of the books and records of the corporation under the doctrine of respondeat superior.
c. has the right to inspect corporate books and records, as information regarding the corporation and its affairs is essential to perform his duties.
d. is barred from examination of the books and records of the corporation under the business judgment rule.

DS Unlimited has the following transactions during August.

August 6 Purchases 54 handheld game devices on account from GameGirl, Inc., for $120 each, terms 1/10, n/60.
August 7 Pays $320 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10 Returns to GamerGirl four game devices that were defective.
August 14 Pays the full amount due to GameGirl.
August 23 Sells 34 game devices purchased on August 6 for $140 each to customers on account. The total cost of the 34 game devices sold is $4,257.00. 2.

Required:
Record the period-end adjustment to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $2,003.

Cash receipts and cash disbursement budgets for a government: Should be prepared monthly or as needed to enhance cash management, investment management, and short-term debt management. Should be prepared for all funds for the entire fiscal year. Should be prepared for only those funds for which appropriations budgets are not required by law. Should be prepared for only those funds for which appropriations budgets are required by law to be prepared on the accrual basis or the modified accrual basis.

At the time of his death on July 9, Aiden held rights in the following real estate: Fair Market Value (on July 9) Apartment building $2,100,000 Tree farm 1,500,000 Pastureland 750,000 Residence 900,000 The apartment building was purchased by Chloe, Aiden's mother, and is owned in a joint tenancy with her. The tree farm and pastureland were gifts from Chloe to Aiden and his two sisters. The tree farm is held in joint tenancy, and the pastureland is owned as tenants in common. Aiden purchased the residence and owns it with his wife as tenants by the entirety. Compute Aiden's gross estate based on the scenarios:

Second-degree price discrimination: Multiple Choice results in transfer pricing. None of the answers are correct. is the practice of posting a discrete schedule of declining prices for different ranges of quantities. eliminates the problem of double marginalization.

The leaders at Hill Corp. execute tasks by assigning complete responsibility to employees and hence, employees are held answerable for their work. The leaders of the firm concentrate on the results of the tasks and not on how the tasks are executed. This manner of achieving goals at Hill Corp. indicates that it has a(n)

Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $157,100 for the quarter ended December 31.
Journalize the entry to record the accrued pension liability on December 31.

Prompt What is market information?

Problem 11-11 Calculating Operating Leverage [LO4] At an output level of 62,000 units, you calculate that the degree of operating leverage is 3.7. The output rises to 67,000 units. What will the percentage change in operating cash flow be? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Will the new level of operating leverage be higher or lower?

On January 1, Year 1, Parker Company purchased an asset costing $20,000. The asset had an expected five-year life and a $2,000 salvage value. The company uses the straight-line method. What are the amounts of depreciation expense and accumulated depreciation, respectively, that will be reported in the Year 2 financial statements

Although RICO was passed to prevent gangsters from taking money they earned illegally and investing it in legitimate businesses, it is now often used against businesspeople who break the law.
a) true
b) false

Selma Inc. is comparing several alternative capital budgeting projects as shown below.
Projects A B C
Initial Investment $40,000 $60,000 $80,000
Present value of cash inflows $60,000 $55,000 $100,000
Using the profitability index, rank the projects, starting with the most attractive.

The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: $ 310 Pretax accounting income included: Overweight fines (not deductible for tax purposes) 12 Depreciation expense 77 Depreciation in the tax return using MACRS: 122 The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:

Signet Automobiles Inc. has launched a new sport utility vehicle (SUV). Its advertising firm develops a marketing message and places advertisements in leading newspapers and on social media sites to inform consumers about the new SUV and its various features. In the context of the communication process, Signet Automobiles is the _______.

Your friend Brian just graduated from medical school. He is excited to begin his new career but is worried about how he will be able to pay back his nearly $150000 in student loans if he were to become disabled. You have recommended a long-term own-occupation disability policy. Approximately how much will Brian pay per month in premiums for this type of policy if the monthly benefit is $6800

Consider the following scenarios.
a. Scenario one has two options available.
Option A: There is a 50% chance of winning $1,000 and a 50% chance of winning $0.
Option B: There is a 100% chance of receiving $500.
A risk-averse person (Click to select) will choose option A will choose option B will be indifferent between options A and B might choose option A or might choose option B .
b. Scenario two has two different options available.
Option C: There is a 40% chance of winning $90 and a 60% chance of winning $110.
Option D: There is a 100% chance of winning $90.
A risk-averse person (Click to select) will choose option C will choose option D will be indifferent between options C and D might choose option C or might choose option D .
c. Scenario three has two more options available.
Option E: There is a 50% chance of winning $0 and a 50% chance of winning $100.
Option F: There is a 50% chance of winning $20 and a 50% chance of winning $60.
A risk-averse person (Click to select) will choose option E will choose option F will be indifferent between options E and F might choose option E or might choose option F .

What is the amount that a customer owes on a credit card at the end of the month called?

Using the estimated sales and production of 140,000 boxes of Chap-Off, the Accounting Department has developed the following manufacturing cost per box: Direct material $ 3.70 Direct labor 2.00 Manufacturing overhead 1.60 Total cost $ 7.30 The costs above relate to making both the lip balm and the tube that contains it. As an alternative to making the tubes for Chap-Off, Silven has approached a supplier to discuss the possibility of buying the tubes. The purchase price of the supplier's empty tubes would be $1.20 per box of 24 tubes. If Silven Industries stops making the tubes and buys them from the outside supplier, its direct labor and variable manufacturing overhead costs per box of Chap-Off would be reduced by 10% and its direct materials costs would be reduced by 20%. Required: 1. If Silven buys its tubes from the outside supplier, how much of its own Chap-Off manufacturing costs per box will it be able to avoid

HELP ME PLEASE!!
When practicing a speech, you should attempt to make your voice as deep as you physically can.
A.
True
B.
False

Michael works as a sales representative for an oilfield supply business in West Texas. He sells highly technical safety equipment to his customers. Michael visits his customers on a regular basis to provide information about new products and to solve technical problems that may arise as his clients use the equipment. For Michael, personal selling works better than other forms of promotion because of _______.

How many people started new businesses in 2011 according to the Kauffman Foundation?

A) 5%
B) 320 of every 100,000 adults in this country
C) 350 of every 100,000 adults in this country
D) 320,000

A pollution tax would be preferable to a system of transferable permits when... a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable. b. the marginal costs of damages are steep and the marginal costs of pollution reduction are steep. c. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are relatively stable. d. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are steep. e. the marginal costs of damages are elastic and the marginal costs of pollution reduction are also elastic.

A company is considering replacing an old piece of machinery, which cost $601,300 and has $350,900 of accumulated depreciation to date, with a new machine that has a purchase price of $483,600. The old machine could be sold for $64,500. The annual variable production costs associated with the old machine are estimated to be $156,700 per year for 8 years. The annual variable production costs for the new machine are estimated to be $101,400 per year for 8 years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A company is considering replacing an old piece of machinery, which cost $600,000 and has $350,000 of accumulated depreciation to date, with a new machine that has a purchase price of $545,000. The old machine could be sold for $231,000. The annual variable production costs associated with the old machine are estimated to be $61,000 per year for eight years. The annual variable production costs for the new machine re estimated to be $19,000 per year for eight years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
Differential Analysis
Continue with Old Machine (Alternative. 1) or Replace Old Machine (Alternative. 2)
September 13
1
Continue with Old Machine
Replace Old Machine
Differential Effect on Income
2
(Alternative 1)
(Alternative 2)
(Alternative 2)
3
4
5
6
7
8

Kevin purchases 1,000 shares of Bluebird Corporation stock on October 3, 2020, for $115,000. On December 12, 2020, Kevin purchases an additional 750 shares of Bluebird stock for $80,500. According to market quotations, Bluebird stock is selling for $115 per share on 12/31/20. Kevin sells 500 shares of Bluebird stock on March 1, 2021, for $64,400.

Required:
a. What is the adjusted basis of Kevin’s Bluebird stock on December 31, 2020?
b. What is Kevin’s recognized gain or loss from the’ sale of Bluebird stock on March 1, 2021, assuming dial the shares sold are from the shares purchased on December 12, 2020?
c. What is Kevin’s recognized gain or loss from the sale of Bluebird stock on March 1, 2021, assuming that Kevin cannot adequately identify the shares sold?

The following table contains statements that provide some analysis of policies that address globalization.
Categorize each statement as positive or normative.
1-In the past decade, U.S. companies have outsourced millions of jobs overseas.
2-Companies that outsource jobs are acting immorally.
3- If the U.S. government were to institute higher tariffs on imports, companies would stop outsourcing jobs.
4-The U.S. government should institute higher tariffs on imports.
I need help in this problem. that what I got: 1-Positive 2- Normative 3- postive 4- Normative
Is that correct??

ABC Motors ordinarily deals in used cars and does some amount of repair work. Robby entrusted his automobile to ABC Motors to have the oil changed and get new brakes. The car was parked in the lot along with other cars, some of which were for sale. The manager of ABC Motors accidentally sold the car to Connie because she saw it and took it upon herself to offer a good price. The manager was attempting to increase the shop's profit margin. Connie had no idea that the car did not belong to ABC Motors. When Robby went to pick up the car, he was very upset that it was gone. The manager told Robby that he was very sorry, but that he was not negligent and only made an honest mistake. According to the manager, Robby accepted the risk of this type of loss, and his only recourse was against Connie. Which of the following is true regarding the manager's statement that Robby's only recourse is against Connie?

a. The manager is correct.
b. The manager is correct only if Connie's deal was for less than 10% of the fair market value of the car.
c. The manager is incorrect only if Robby has a writing signed by a representative of the repair shop guaranteeing the safety of the car.
d. Because the sale to Connie was an accident, the manager is correct only if Connie can be found and served with process.
e. The manager is incorrect.

Erik Cartman just took a new position with Colorado Research, Inc. Erik’s first customer, the president of a local bank, wanted a bank image study to be conducted measuring not only the client’s banks’ image, but that of his competitors as well. In designing the research project, Erik talked to several of his friends one night about how they viewed their banks. Erik charged the client for this and billed it as "Exploratory Research NFocus Group." The next day Erik tried to remember most of what his friends had told him. Some of the issues were "closeness to home" of branch locations, "cool online banking," and "friendly tellers." Erik took these issues, made up some of his own and put them into a semantic differential scale format. After the research study, Erik wrote a report and referred to the semantic differential scale he devised as a "Standard Marketing Research Scale to Measure the Construct of Bank Image." What Erik did was:___________
A) correct; he used exploratory research to generate most of the items for his
measurement of bank image
B) correct; although he used some of his own opinions, they were based upon experience and he did make use of a focus group
C) incorrect; the measurement of bank image was incorrect as bank image should be measured only by using Likert scales
D) incorrect; we do not know if the scale Mr. Cartman devised was valid or reliable, but he was unethical in presenting the measurement as"standard marketing research"
E) correct; Erik saved considerable time and money by creating his own measurement of the construct

The Murdock Corporation reported the following balance sheet data for 2021 and 2020:
2021 2020
Cash $98,465 $34,355
Available-for-sale debt
securities (not cash
equivalents) 25,000 104,000
Accounts receivable 99,000 85,350
Inventory 184,000 162,100
Prepaid insurance 3,210 3,900
Land, buildings, and
equipment 1,288,000 1,144,000
Accumulated depreciation (629,000 ) (591,000 )
Total assets $1,068,675 $942,705
Accounts payable $93,440 $167,670
Salaries payable 27,600 34,000
Notes payable (current) 42,100 94,000
Bonds payable 219,000 0
Common stock 300,000 300,000
Retained earnings 386,535 347,035
Total liabilities and
shareholders' equity $1,068,675 $942,705
Additional information for 2021:
(1) Sold available-for-sale debt securities costing $79,000 for $85,400.
(2) Equipment costing $20,000 with a book value of $6,900 was sold for $8,850.
(3) Issued 6% bonds payable at face value, $219,000.
(4) Purchased new equipment for $164,000 cash.
(5) Paid cash dividends of $29,500.
(6) Net income was $69,000.
Required:
Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities.

Four Seasons Industries has established direct labor performance standards for its maintenance and repair shop. However, some of the labor records were destroyed during a recent fire. The actual hours worked during August were 2,250, and the total direct labor budget variance was $1,170 unfavorable. The standard labor rate was $14.40 per hour, but recent resignations allowed the firm to hire lower-paid replacement workers for some jobs, and this produced a favorable rate variance of $3,150 for August.
Required
a. Calculate the actual direct labor rate paid per hour during August. (Do not round intermediate calculations. Round your answer to 1 decimal place.) ual direct labor rate per hour
b. Calculate the dollar amount of the direct labor efficiency variance for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). t labor efficiency
c. Calculate the standard direct labor hours allowed for the actual level of activity during August. (Hint: Use the formula for the efficiency variance and solve for the missing information.) Standard direct labor hours

Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2020. It also has the following items (before considering income taxes): (1) An unrealized loss of $120,000 available-for-sale-securities. (2) A gain of $60,000 on the discontinuance of a major component. (3) A cumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $50,000. Assume all items are subject to income taxes at a 30% tax rate. Prepare an income statement, beginning with income from continuing operations. DOS AMUGUS COMPANY Partial Statement of Comprehensive Income For the Year Ended December 31, 2020