Answer: B. revenues, expenses, retained earnings; dividends, retained earnings
Explanation:
Closing entries simply refers to the journal entries that are made by an economic entity at the end of a particular accounting period which is then moved from the temporary accounts with regards to the income statement to the permanent accounts which are on the balance sheet.
There are two closing entries which includes closing revenues, and expenses, to retained earnings and secondly, close the dividends, to the retained earnings .
this is my Halloween costume
Answer:
Crankyyyy um. lolipop
Explanation:
u Look
Wilton sells softball equipment. On November 14, they shipped $3500 worth of softball uniforms to Paola Middle School, terms 1/10, n/30. On November 21, they received an order from Douglas High School for $2000 worth of custom printed bats to be produced in December. On November 30, Paola Middle School returned $400 of defective merchandise. Wilton has received no payments from either school as of month end. What amount will be recognized as net accounts receivable on the balance sheet as of November 30?
Wilton sells softball equipment. On November 14, t
A. $3500
B. $5900
C. $3100
D. $5500
Answer:
$3,100
Explanation:
Net Accounts Receivable = Received order from Douglas high school - Return from Paola middle school
Net Accounts Receivable = $3,500 - $400
Net Accounts Receivable = $3,100
So, the amount that will be recognized as net accounts receivable on the balance sheet as of November 30 is $3,100
so how do you make customers come and buy ur charm bracelets how do u advertise it.
Answer:
You could make advertisements and post them around your town. Ask your friends to spread the word in your school. Make a website. Read on how to start a small buisness.
Explanation: GOOD LUCK
Parker, Inc. has a cash balance of $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:
April May June
Cash collections 25000 24000 24000
Cash payments:
Purchases of direct materials 4000 5300 6200
Operating expenses 5300 6000 5300
There are no budgeted capital expenditures during the quarter. Based on the above data, calculate the projected cash balance at the end of April.
a. $41,000
b. $35,000
c. $45,000
d. $25,000
Answer:
$35,700
Explanation:
Projected cash balance at the end of April = Cash Balance at the beginning of the month + Total cash collection in the month - Total cash payments during the month
Projected cash balance at the end of April = $20,000 + $25,000 - ($4,000 + $5,300)
Projected cash balance at the end of April = $35,700.
I need help with this question
Answer:
still need help ?
Explanation:
Answer:
true
Explanation:
The City of San Antonio is considering various options for providing water in its 50-year plan, including desalting. One brackish aquifer is expected to yield desalted water that will generate revenue of $4.1 million per year for the first 5 years, after which less production will decrease revenue by 10% per year each year. If the aquifer will be totally depleted in 21 years, what is the present worth of the desalting option revenue at an interest rate of 8% per year
Answer:
The present worth of the desalting option revenue is 29,567,434.81 or $29.6 million.
Explanation:
Note: Calculation of the present worth of the desalting option revenue.
In the attached excel file, the revenue from year 6 to 21 is calculated using the following formula:
Revenue in the current year = Revenue in the previous year * (100% - Decreasing rate) ................... (1)
Where;
Decreasing rate = 10%
From the attached excel file, the present worth (in bold red color) of the desalting option revenue is 29,567,434.81 or $29.6 million.
Vaughn Manufacturing, has 14900 shares of 4%, $100 par value, cumulative preferred stock and 60000 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $102000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Answer:
$25,200
Explanation:
The computation of the dividend received by the common stockholder for the year 2021 is shown below:
The Annual preferred dividend is
= 14,900 × $100 × 4%
= $59,600
Dividend due to preferred dividend in 2020
= Arrears of 2019 + Dividend of 2020
= $59,600 + $59,600
= $119,200
But the Dividend Paid in 2020 is $102,000
Arrears of dividend at the end of 2020 (Preferred) is
= $119,200 - $102,000
= $17,200
Now,
Dividend paid to preferred in 2021 = 2021 dividend + Arrears
= $59,600 + $17,200
= $76,800
Now Dividend paid to Common stockholders in 2021 is
= Total dividend - Dividend paid to preferred in 2021
= $102,000 - $76,800
= $25,200
The sticker price for a new car takes into account the compensation made to the salesperson who managed the sale. This compensation is an example of what type of cost?
A): dealer cost
B): shipping cost
C): manufacturing cost
D): sales commission
Answer:
D
Explanation:
cuz its D
This compensation is an example of sales commission cost. Thus, option D is correct.
What is manufacturing cost?The expenses incurred during the creation of a product are known as manufacturing costs. Direct material, direct labor, and manufacturing overhead costs are included in these expenses. Normally, the costs are shown as separate line items in the revenue statement. These expenses are incurred by an entity during the production process.
The materials employed in a product's construction are referred to as direct materials. The amount of the production process's labor costs that is specifically attributed to a unit of production is known as direct labor. The application of manufacturing overhead costs to units of production depends on many alternative allocation schemes, such as the number of direct labor hours or machine hours used.
Learn more about manufacturing cost here:
https://brainly.com/question/17111259
#SPJ2
Managers have to consider several contingencies when deciding on the best arrangements for their organizations. One such contingency is the organization's environment, and managers must determine whether a mechanistic or an organic structure will work better under their particular circumstances. This activity is important because the type of organizational structure chosen can be critical to an organization's success. The goal of this exercise is to test your knowledge of the characteristics of these two different organizational structures. Select the most appropriate category (mechanistic or organic structure) for each step of the characteristics of organizations.
1. Few rules and procedures (Click to select)
2. Narrow span of control (Click to select)
3. Specialized tasks (Click to select)
4. Many teams or task forces (Click to select)
5. Many rules and procedures (Click to select)
6. Decentralized hierarchy of authority (Click to select)
7. Flatter structure (Click to select)
8. Informal communication (Click to select)
9. Taller structure (Click to select)
10. Centralized hierarchy of authority (Click to select)
11. Wider span of control (Click to select)
12. Shared tasks (Click to select)
13. Formalized communication (Click to select)
14. Few teams or task forces (Click to select)
15. Best for companies operating in stable environments. (Click to select)
16. Best for companies that need to respond to rapidly changing consumer tastes. (Click to select)
Answer:
Mechanistic structures are more centralized in nature. This makes them rigid as decisions come from the top but because there is little micro-management, the company will rely on clear rules for employees to get things done. Communication is vertical.
Organic structures on the other hand, are more decentralized. Communication is horizontal but goes vertical as well and rules are more flexible.
Mechanistic Structure:
Narrow span of control Specialized tasksMany teams or task forcesMany rules and proceduresTaller structureCentralized hierarchy of authorityFormalized communication Best for companies operating in stable environments.Organic Structures
Few rules and proceduresDecentralized hierarchy of authority.Flatter structure.Informal communication Wider span of controlShared tasks Few teams or task forces Best for companies that need to respond to rapidly changing consumer tastes.Personalities fit into at least one of (blank)
different categories.
A.ten
B.seven
C.three
D.five
Other financial data for the year ended December 31, 2019: Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due December 29, 2021. The balance in the Deferred Income Tax Liability account pertains to a temporary difference that arose in a prior year, of which $20,000 is classified as a current liability. During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Lamberts December 31, 2019 balance sheet, the current assets total is
Answer:
$5,055,000
Explanation:
Note: The full question is attached below
Particulars Amount
Cash $875,000
Accounts receivable $2,695,000
Less: Installments not due in 2021 ($600,000) $2,095,000
[$1,200,000 - ($150,000 * 4)]
Inventory $2,085,000
Total of current assets $5,055,000
Simone transferred 100 percent of her stock in Purple Company to Plum Corporation in a Type A merger. In exchange, she received stock in Plum with a fair market value of $667,500 plus $667,500 in cash. Simone's tax basis in the Purple stock was $263,000. What amount of gain does Simone recognize in the exchange and what is her basis in the Plum stock she receives
Answer: $667,500 gain recognized and a basis in Plum stock of $263000
Explanation:
The amount of gain that Simone recognize in the exchange and her basis in the Plum stock she receives will be:
Gain realized = $667500 + $667500 - $263000 = $1598000
Cash Received = $667500
The Gain recognized will be the lesser amount between the gain realized and cash received which will be $667500.
Therefore, the answer is $667,500 gain recognized and a basis in Plum stock of $263000
Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $170,000; beginning inventory $125,000; cost of goods sold $351,050 and sales revenue $761,000.
a. Calculate the inventory turnover for Oakley, Inc.
b. Calculate the days in inventory for Oakley, Inc.
Answer and Explanation:
The computation is shown below:
a. The inventory turnover is
= Cost of Goods Sold ÷ Average Inventory
= $351,050 ÷ ($170,000 + $125,000) ÷ 2
= $351,050 ÷ $147,500
= 2.38 times
b. Now days in inventory is
= 365 ÷ inventory turnover ratio
= 365 ÷ 2.38 times
= 153.36 days
Selected transactions for Cullumber Company are presented below in journal form (without explanations).
Date Account Title Debit Credit
May 5 Accounts Receivable 4,750
Service Revenue 4,750
12 Cash 1,200
Accounts Receivable 1,200
15 Cash 2,260
Service Revenue 2,260
Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
Answer and Explanation:
The posting of the given transactions to T accounts are presented below:
Cash account
May 12 Account receivable $1,200
May 15 Service revenue $2,260
Account receivable
May 5 Service revenue $4,750 May 12 Cash $1,200
Service revenue
May 15 Account receivable $2,260
May 5 Servcie revenue $4,750
Schickel Inc. regularly uses material B39U and currently has in stock 456 liters of the material for which it paid $2618 several weeks ago. If this were to be sold as is on the open market as surplus material, it would fetch $5.20 per liter. New stocks of the material can be purchased on the open market for $5.80 per liter, but it must be purchased in lots of 1000 liters. You have been asked to determine the relevant cost of 750 liters of the material to be used in a job for a customer. The relevant cost of the 750 liters of material B39U is:
Answer:
the relevant cost of the 750 liters of material B39U is $4,350
Explanation:
The computation of the relevant cost of the 750 liters of material B39U is shown below:
Relevant cost = Purchase price per liter × Liters needed for the job
= $5.80 per liter × 750 liters
= $4,350 .
Hence, the relevant cost of the 750 liters of material B39U is $4,350
Assume that JQH’s returns are normally distributed. The expected return for JQH is 10% and standard deviation is 5%. What is the probability of JQH stock providing a return within the range 15% to 20%?Assume that JQH’s returns are normally distributed. The expected return for JQH is 10% and standard deviation is 5%. What is the probability of JQH stock providing a return within the range 15% to 20%?2.5%16%68%13.5%none
Answer:
13.5%
Explanation:
From this question we have the following information
We have mean return = 10
Standard deviation = 5
We use this formula
Z = x - mean/standard deviation
X is between 15 and 20
15< X< 20
= 15-10/5 < Z < 20-10/5
= 1 < z < 2
Using the Statistical table,
P(z < 2) = 0.9772
P(z< 1) = 0.8413
0.9772 - 0.8413 = 0.1359 x 100
= 13.5%
The probability of JQH stock providing a return within the range 15% to 20% = 13.5%
Thank you
Sage Hill Inc. wishes to lease machinery to Thiensville Company. Thiensville wants the machinery for 4 years, although it has a useful life of 10 years. The machinery has a fair value at the commencement of the lease of $47,000, and Sage Hill expects the machinery to have a residual value at the end of the lease term of $27,000. However, Thiensville does not guarantee any part of the residual value. Thiensville does expect that the residual value will be $45,000 instead of $27,000.
Required:
What would be the amount of the annual rental payments Sage Hill demands of Thiensville, assuming each payment will be made at the end of each year and Sage Hill wishes to earn a rate of return on the lease of 6%?
Answer:
bud im sorry but cay you simplify this sentance
Explanation:
$29198 / [ 1 - ( 1 + 0.06 )-4 / 0.06 ]
= $29198 / 3.46510561283
= $8426 [ Rounded off to zero decimal places ]
bud i tried but i think its wrong im only in 6th
On April 1, 2020, Republic Company sold equipment to its wholly owned subsidiary, Barre Corporation, for $40,000. At the time of the transfer, the asset had an original cost (to Republic) of $60,000 and accumulated depreciation of $25,000. The equipment has a five year estimated remaining life. Barre reported net income of $250,000, $270,000 and $310,000 in 2020, 2021, and 2022, respectively. Republic received dividends from Barre of $90,000, $105,000 and $120,000 for 2020, 2021, and 2022, respectively. What was the amount of the credit to depreciation expense on the 2020 consolidation worksheet
Answer:
$750
Explanation:
Calculation for What was the amount of the credit to depreciation expense on the 2020 consolidation worksheet
2020 Credit to depreciation expense=[($60,000/5 years )-($60,000-$25,000/5 years)]/5 years*9/12
2020 Credit to depreciation expense=[($60,000/5 years )-($35,000/5 years)]/5 years*9/12
2020 Credit to depreciation expense=[($12,000-$7,000)/5 years*9/12]
2020 Credit to depreciation expense=$5,000/5 years*9/12
2020 Credit to depreciation expense=$750
Therefore the amount of the credit to depreciation expense on the 2020 consolidation worksheet is $750
At the end of the current year, Accounts Receivable has a balance of $950,000; Allowance for Doubtful Accounts has a credit balance of $8,500; and sales for the year total $4,280,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $40,000. a. Determine the amount of the adjusting entry for uncollectible accounts. $fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable. $fill in the blank 5
Answer:
a. Adjusting entry for Uncollectible accounts = Allowance for Doubtful Accounts - Credit balance on Allowance for doubtful accounts
= 40,000 - 8,500
= $31,500
b. Accounts Receivable = $950,000
Allowance for Doubtful Accounts = $40,000
Bad Debt Expense = This is the adjusting entry for Uncollectible accounts = $31,500
c. Net realizable value of accounts receivable = Accounts receivables - Bad debt
= 950,000 - 31,500
= $918,500
Use the compounding or discounting formula to answer the questions. Round answers to the nearest dollar. a. Your small business has a cash reserve of $200,000, earning 2% annual interest. How much will your cash reserve be worth in 3 years? $ b. You want $1 million in your retirement account in 50 years. If your account grows at an annual rate of 4%, how much do you have to deposit today to reach $1 million in 50 years?
Answer:
a.
Future value - Cash Reserve = $212241.6
b.
Present value of deposit = $140712.615333 rounded off to $140712.62
Explanation:
a.
To calculate the value of cash reserve in 3 years, we will calculate the future value of the cash flow using the following formula,
Future value = Present value * (1 + r)^t
Where,
r is the rate of interest or returnt is the number of periodsFuture value - Cash Reserve = 200000 * (1+2%)^3
Future value - Cash Reserve = $212241.6
b.
To calculate the amount of deposit today, we need to calculate the present value of $1 million which are after 50 years from today. The formula to calculate the present value is as follows,
Present Value = Future value / (1 + r)^t
Where,
r is the interest rate or rate of return or discount ratet is the number of periodsPresent value = 1000000 / (1+4%)^50
Present value = $140712.615333 rounded off to $140712.62
Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours. Year to date, the actual overhead is $7,955,000 and the actual machine hours are 85,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours. a.$140 per machine hour b.$51 per machine hour c.$76 per machine hour d.$94 per machine hour
Answer:
Predetermined manufacturing overhead rate= $76.27 per machine hour
Explanation:
Giving the following information:
Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours.
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= 11,898,000 / 156,000
Predetermined manufacturing overhead rate= $76.27 per machine hour
A state department of health is considering a public awareness campaign to encourage vaccination. It determines that the cost of this campaign would be $760,000 per year for the next 6 years. It estimates that the campaign would reduce rates of illness and communicable disease. At the end of the first year of the campaign, the resulting savings would be $1,000,000; the savings would decrease by $80,000 each of the following 5 years. Assuming a discounting factor of 5%, compute the benefit cost ratio.
Answer:
1.068
Explanation:
The benefit cost ratio is used to determine the profitability of an investor. It is determined by dividing the present value of benefit by the present value of cost
Benefit cost ratio (BC) = present value of benefits / present value of costs
if BC is greater than 1, the project is profitable
If BC is less than 1, the project is not profitable
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Present value of the costs
Cash flow each year from year 1 to 6 = $760,000
I = 5
PV = 3,857,525.97
Present value of benefits
Cash flow in year 1 = $1,000,000
Cash flow in year 2 = $1,000,000 - $80,000 = $920,000
Cash flow in year 3 = $920,000 - $80,000 = 840,000
Cash flow in year 4 = 840,000 - $80,000 = 760,000
Cash flow in year 5 = 760,000 - $80,000 = $680,000
Cash flow in year 6 = $680,000 - $80,000 = $600,000
I = 5%
PV BENEFIT = 4,118,252.57
BC ratio = 4,118,252.57 / 3,857,525.97 = 1.068
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
how does unsafe food harm us
Answer:
Unsafe food creates a vicious cycle of disease and malnutrition, particularly affecting infants, young children, elderly and the sick. Foodborne diseases impede socioeconomic development by straining health care systems, and harming national economies, tourism and trade.
Boehm Incorporated is expected to pay a $1.10 per share dividend at the end of this year (i.e., D1 = $1.10). The dividend is expected to grow at a constant rate of 4% a year. The required rate of return on the stock, rs, is 15%. What is the estimated value per share of Boehm's stock? Do not round intermediate calculations. Round your answer to the nearest cent. $
Answer:
$10
Explanation:
The dividend is $1.10
The constant rate is 4%
The required rate of return in the stock is 15%
Therefore the estimated value per share can be calculated as follows
= 1.10(0.15-0.04)
= 1.10/(0.11)
= $10
Hence the estimated valuee is $10
Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $41,600 for Division A. Division B had a contribution margin ratio of 45% and its sales were $271,000. Net operating income for the company was $34,000 and traceable fixed expenses were $59,100. Corbel Corporation's common fixed expenses were:
Answer:
$5,000
Explanation:
common fixed expenses = Contribution Margin - Net Income - traceable fixed expenses
= $41,600 + $121,950 - $34,000 - $59,100
= $70,450
Corbel Corporation's common fixed expenses were, $70,450
Janelle is into running. As soon as she gets home from work at the hospital, she changes into her running clothes, puts on her high-quality running shoes, and goes outside to run. When her schedule permits it, Janelle participates in 5K runs to raise money for children's charities. She has met many friends who are also involved in running. The running groups that Janelle is involved with are examples of _______. a. income segmentation b. benefit segmentation c. geodemographic segmentation d. lifestyle segmentation
Answer:
d. lifestyle segmentation
Explanation:
Segmentation is the way in which various criteria is used to seperate the target market of a set of products.
In the given instance Janelle is involved in a lifestyle segment that is categorised on the basis of similar lifestyle.
She likes to run. This is a type of lifestyle, so the groups that she is involved with that also like running are an example of a lifestyle segmentation
MyPillow uses television advertising and wanted to see whether the TV ads reached more viewers during the daytime spots or the prime-time spots. MyPillow wanted to adjust its TV spots to reach the greatest number of viewers. To get real-time reactions, MyPillow decided to conduct mobile market research because _______. a. most people do not multitask using smartphones b. using a mobile app is difficult and confusing c. most people do not use their desktop computers while watching TV d. fewer respondents are reached than in conducting telephone research
Answer:
c
Explanation:
If MyPillow wants to get real time update, it means it wants to get update as people are watching tv. In order to reach its audience, it would be right to reach them on the medium they use while watching tv. If most people do not use their desktop computers while watching TV , it would not be appropriate to use desktop computers.
But if people watch tv and use their phone, the appropriate means of carrying this research is through mobile.
In 2019 a 90% owned subsidiary had $60,000 of unrealized gains on intercompany sales to its parent. In 2020 the subsidiary sold $200,000 of goods to its parent and had $30,000 of unrealized gains. In 2020 parent reports Cost of Goods Sold of $4,000,000 and sub reports Cost of Goods Sold of $1,000,000. How much is Consolidated Cost of Goods Sold
Answer:
Consolidated Cost of Goods Sold is $4,970,000.
Explanation:
A 90% owned subsidiary presents a controlling interest and consolidated financial statements must be prepared by the Parent company.
In preparing consolidated financial statements, any transactions between the parent and subsidiary (Intragroup transactions) must be eliminated.
At Beginning of the year
Recognize the unrealized gains on intercompany sales as follows ;
Debit : Retained Earnings $60,000
Credit : Cost of Sales $60,000
During the year 2020
Eliminate unrealized gains on intercompany sales as follows
Debit : Cost of Sales $30,000
Credit : Inventory $30,000
Consolidated Cost of Goods Sold
To determine the Cost of Goods Sold add 100 % of Parent and 100% of Subsidiary and also remember to effect the journals above as follows :
Cost of Goods Sold = $4,000,000 + $1,000,000 - $60,000 + $30,000
= $4,970,000
Conclusion
Therefore, Consolidated Cost of Goods Sold is $4,970,000.
Wearing a headset or earplugs while driving is legal
A. As long as you keep the volume down
B. For any person operating an authorized emergency vehicle
C. Even if you keep both ears covered
D. Only if your radio is broken
Entertainer's Aid plans five annual colossal concerts, each in a different nation's capital. The concerts will raise funds for an endowment which would provide the World Wide Hunger Fund with $3,000,000 per year into perpetuity. The endowment will be given at the end of the fifth year. The rate of interest is expected to be 9 percent in all future periods. How much must Entertainer's Aid deposit each year to accumulate to the required amount
Answer: $5,569,758.43
Explanation:
First you need to find the present value of the Perpetuity at the end of the fifth year.
Present value of Perpetuity = Amount / Interest rate
= 3,000,000 / 9%
= $33,333,333.33
Given an interest rate of 9%, Entertainer's aid should deposit an amount per year that would lead to the endowment having $33,333,333.33 at the end of the fifth year.
Future value of annuity = Annuity * Future value of annuity interest factor, 9%, 5 years
33,333,333.33 = Annuity * 5.9847
Annuity = 33,333,333.33 / 5.9847
= $5,569,758.43