Answer:
$36,000,000
Explanation:
Note: Permanent differences have no impact on deferred taxes.
Deferred tax liability = $120 million * 30%
Deferred tax liability = $120 million * 0.30
Deferred tax liability = $36,000,000
So, the balance in the deferred tax liability in the December 31, 2020, balance sheet is $36,000,000.
Which of the following is NOT one of the four factors of production?
1. Entrepreneurship
2. Natural resources
3. Human Resources
4. Production Resources
Sheffield Corp. had accounts receivable of $250,000 on January 1, 2019. The only transactions that affected accounts receivable during 2019 were net credit sales of $5,225,000, cash collections of $5,155,000, and accounts written off of $20,000.
Answer:
300000is the answer make me branlist
The Fortise Corporation manufactures two types of vacuum cleaners, the Victor for commercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2017 were as follows: Static Budget Victor House-Mate Total Number sold 20,000 80,000 100,000 Contribution margin $4,600,000 $15,200,000 $19,800,000 Actual Results Victor House-Mate Total Number sold 21,500 64,500 86,000 Contribution margin $6,665,000 $14,190,000 $20,855,000 What is the total sales-mix variance closest to in terms of the contribution margin
Answer:
The Fortise Corporation
The total sales-mix variance closest to $1,055,000 in terms of the contribution margin.
Explanation:
a) Data and Calculations:
Static Budget Victor House-Mate Total
Total Number sold 20,000 80,000 100,000
Contribution margin $4,600,000 $15,200,000 $19,800,000
Actual Results Victor House-Mate Total
Number sold 21,500 64,500 86,000
Contribution margin $6,665,000 $14,190,000 $20,855,000
Variance
Number sold 1,500 F 15,500 U 14,000 U
Contribution margin $2,065,000 F $1,010,000 U $1,055,000 F
g Other things equal, an improvement in the expected rate of net profit would Multiple Choice reduce the price level and unemployment. decrease the interest rate and cause aggregate demand to increase. increase consumption and net exports, causing aggregate demand to shift rightward. increase investment spending, real GDP, and the price level.
Answer:
Other things equal, an improvement in the expected rate of net profit would
increase investment spending, real GDP, and the price level.
Explanation:
When the net profit or income improves, the ability of entities to increase their investment spending is enhanced dramatically. The cascading effect improves the real GDP as more investments are made to take advantage of the increased profit rate. Overall, the price level will also increase with increased aggregate demand, coupled with improved investment, employment rate, and improvements in other market indices.
GDP is the Gross Domestic Product is the measurement tool of the market or the economy. It is for all the final goods and services being provided to the final consumer of the goods or services.
When other things are equal then if there is an improvement in the expected rate of net profit then it would also increase the investment spending, the real GDP, and the price level.
Due to the increase in the net profit or the net income of the business, then the ability of the entity towards its investment spending is also enhanced. This is the cascading effect that will also impact the improvement in the real GDP, this is because more investments are made by the entity to take advantage of the increased profit margin rate. This will substantially increase the price level of the goods or services.
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The ABC Company has recognized the following demand for the next four quarters:
Quarter Demand
1 3000 units
2 4000 units
3 4500 units
4 3500 units
ABC has traditionally used the hiring and firing of workers to accommodate the changes in demand for their products but is considering maintaining a stable workforce and subcontracting production when demand exceeds the capability of the workforce. They currently have 30 workers, each capable of producing 100 units per quarter. It costs them $3000 to hire a worker and $5000 to fire a worker.
If they subcontract the work, it will cost them $30 per unit above their normal production cost. Given this information, should they continue their current practice or move to subcontracting the production over what their current workforce can produce?
Answer: Subcontracting production
Explanation:
It is cheaper for ABC Company to subcontract the jobs than to hire and fire workers as needed. Even though the cost is similar when it comes to hiring permanent workers and training them vs subcontracting them, when the company needs to produce less goods, the cost of firing the permanent employees is simply too much.
For instance, 1,000 units out of the 4,000 units in the second quarter cannot be covered by the 30 workers they have. They will need to hire 10 additional workers and training them would cost $30,000. That is the same cost they would incur if they subcontracted (30 * 1,000 units = $30,000).
What happens in quarter 4 however, when they have to let go of 10 employees because production dropped by 1,000 units? They will have to pay $50,000. If they were subcontracting, they would not have to pay a dime. It is therefore better to subcontract.
Stitch Fix is an online personal styling service that was founded in 2011. This company combines computer algorithms with human stylists to deliver a personalized online shopping experience to customers through a subscription service. Users fill out a survey that outlines their style preferences and price range, then stylists hand-select clothing and ship it to the customers. Which of the following statements most likely does not represent an opportunity for Stitch Fix?
A. increasing life expectancy by 5 years.
B. increase in the company's efficiency due to improvements in the value chain.
C. global economic growth will reach 10% next year.
D. a growing population of environmentally conscious consumers.
Answer:
A
Explanation:
there is no correlation between the clothes been made for customers and an increase in life expectancy
The company's efficiency is increased as a result of tailoring customers clothes to be exactly what they want.
Also, Stitch Fix contributes to GDP as a result they can contribute to global economic growth
Metlock Mining Company purchased land on February 1, 2020, at a cost of $1,101,100. It estimated that a total of 58,200 tons of mineral was available for mining. After it has removed all the natural resources, the company will be required to restore the property to its previous state because of strict environmental protection laws. It estimates the fair value of this restoration obligation at $112,500. It believes it will be able to sell the property afterwards for $125,000. It incurred developmental costs of $250,000 before it was able to do any mining. In 2020, resources removed totaled 29,100 tons. The company sold 21,340 tons.
Compute the following information for 2020.
(a) Per unit mineral cost: _______
(b) Total material cost of December 31, 2020, inventory:_______
(c) Total material cost in cost of goods sold at December 31, 2020:_______
Answer and Explanation:
The computation is shown below;
(a)
Purchase price of Land $1,101,100
Add: Fair value of restoration $112,500
Less: residual value -$125,000
Developmental costs $250,000
Total $1,388,600
Divided by Tons available for mining 58,200
Per unit Material cost $23.00
(b) Inventory $178,480 (29100 - 21340) × $23
(c ) Cost of goods sold $490,820 (21340 × $23)
Whirlwind mowers manufacturers and sells power lawnmower still public and distributes the products through its own dealers. Andrew is a homeowner who has purchased a power mower from an authorized dealer on the basis of the dealer's recommendation that the mower is the best one available to the job. Andrew was cutting his lawn when the mower blade flew off and seriously injured his leg.
Required:
a. Andrew sues Whirlwind Mowers and asks for damages based on negligence in producing the power mower. Is Whirlwind Mowers guilty of negligence? Explain your answer.
b. The doctrine of res ipsa loquitur can often be applied to cases of this type. Show how this doctrine can be applied to this case. Your answer must include a definition of res ipsa loquitur .
c. Explain the various types of damages that Andrew might receive if Whirlwind Mowers is found guilty of negligence.
Answer:
A) Yes Whirlwind mowers are guilty
B) If
The negligence causes an injury event occurred due to the negligence applicant/defendant has an exclusive ownership of the equipmentC) Compensative damages : special and general
Explanation:
A)
Andrew can sue whirlwind mowers and claim damages for production negligence ( i.e. not following the standard of care ) as enshrined in the doctrine of " res ipsa loquitur " hence Whirlwind mowers are guilty
B)
"res ipsa loquitur ." means the thing speaks for itself and this doctrine can be applied to this case following that the:
The negligence causes an injury event occurred due to the negligence applicant/defendant has an exclusive ownership of the equipmentc) The various types of damages
Compensative damages ( divided into 2 )
i) special damages which includes hospital expenses and other properly documented damages ii) general damages : includes damages that are non-measurable damages
You are being asked to consider selling one of your regional divisions to a private equity company. The private equity company has just offered you $1.2 million for the regional division. The division is expected to provide your company net annual cash flows of $175,000 for each of the next 10 years without you having to make any additional investments in the division. Your team has calculated information to help you make your decision, as follows.
A) Your company's WACC is 7.9%
B) Your hurdle rate for this potential sale is 11.2%
C) The Net Present Value of this opportunity to your company using WACC as your discount rate is (-$20,420.78)
D) The likely Net Present Value of the division to the private equity company following the sale is $13,776.23
Which of the following answers is correct given the information provided above?
1) The IRR of the project to your company is between 7.9% and 11.2%
2) The hurdle rate for the private equity company is higher than the hurdle rate for your company
3) The IRR of the project to your company is below 7.9%
4) None of the Above
Answer:
3) The IRR of the project to your company is below 7.9%
Explanation:
As we can see in the question that at 7.9% wacc, the net present value is -$20,420.78
Since the net present value is in negative that shows that the internal rate of return would be less than 7.9%
So according to the given situation, the option 3 is correct
And, the same is to be considered
The IRR of the project to your company is below 7.9% as when the NPV is negative, IRR should be less than the weighted average cost of capital.
What is IRR?
IRR can be defined as the rate of discount at which the present value of cash flows is equal to the present value of the cash outflows.
When the net present value (NPV) is negative, it means that the discounted cash flows are less than the original investment. Furthermore, the discount rate used exceeds the IRR.
When IRR = Cost of capital, NPV is zero; nevertheless, because NPV is negative, IRR must be less than the weighted average cost of capital.
Hence, Option 3. is the correct answer; The IRR of the project to your company is below 7.9%.
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Autoliv produces air bag systems that it sells to automobile manufacturers throughout the world. Assume the company has a capacity of 50 million units per year, it is currently producing at an annual rate of 40 million units. Autoliv has received an order from a Japanese manufacturer to purchase 100,000 units at $65 each. Budgeted costs for 40 million and 45 million units are as follows:
(in thousands, except costs per unit) 40 Million Units 45 Million Units
Manufacturing costs
Direct materials $ 560,000 $ 630,000
Direct labor 220,000 247,500
Factory overhead 1,780,000 1,822,500
Total 2,560,000 2,700,000
Selling and administrative 1,120,000 1,125,000
Total $ 3,680,000 $ 3,825,000
Costs per unit
Manufacturing $ 64.00 $ 60.00
Selling and administrative 28.00 25.00
Total $ 92.00 $ 85.00
Sales to auto manufacturers are priced at $120 per unit, but the sales manager believes the company should aggressively seek the Japanese business even if it results in a loss of $20 per unit. She believes obtaining this order would open up several new markets for the company's product. The general manager commented that the company cannot tighten its belt to absorb the $2,000,000 loss ($20 × 100,000) it would incur if the order is accepted.
(a) Determine the financial implications of accepting the order. (Hint: Use the high-low method to determine variable costs per unit.)
Accepting the offer will Answerdecreaseincrease
profits by $________
(b) How would your analysis differ if the company were operating at capacity? Determine the advantage or disadvantage of accepting the order under full-capacity circumstances.
Answer: See explanation
Explanation:
a. The variable cost per unit will be:
= (3,825,000 - 3,680,000) / (45million - 40 million)
= 0.029
Then, the financial order of accepting the order will be:
Contribution margin = Unit selling price - Unit
= 65 - 29
= 36
Since the size of the order is 100,000, the financial impact of accepting the order will be:
= 36 × 100,000
= 3,600,000
b. The differential analysis will be:
Contribution from special order = 3,600,000
Opportunity cost {100,000 = 120,000,000 - 29,000,000 = 9,100,000
Net disadvantage of accepting order will then be:
= 3600000 - 9100000
= 5,500,000
2. Discuss innovation as an entrepreneurial trait and the role of innovation in Wow Momo's
success.
Bramble Corp. recorded operating data for its shoe division for the year. Sales $2000000 Contribution margin 440000 Controllable fixed costs 180000 Average total operating assets 880000 How much is controllable margin for the year? 22% 50% $260000 $440000
Answer: 260000
Explanation:
The controllable margin for the year will be calculated thus:
Contribution margin = 440000
Less: Controllable Fixed Costs = 180000
Controllable margin will now be:
= 440,000 - 180,000
= 260,000
Therefore, the controllable margin will be 260000
Select the correct answer.
At the end of the year, Clean123 Inc. has a service revenue of $193,750, an accounts payable of $500, a notes payable of $ 17,800, a salaries
expense of $26,900, and a rent expense of $14,640. What is Clean123 Inc.'s net income?
ОА.
$134,410
OB.
$152,210
OC. $161,310
OD. $166,850
Reset
Next
Answer: $152,210
Explanation:
The net income is the income that remains after the expenses has been deducted from the revenue.
Clean123 Inc.'s net income will be calculated as:
Service revenue = $193,750
Less: Salaries expense = $26,900
Less: rent expense = $14,640.
Net income = $152,210
Therefore, the net income is $152210
QUESTION 1 Pure Comfort manufactures and sells mattresses with adjustable air chambers. Pure Comfort has been producing and selling approximately 500,000 units per year. Each units sells for $630, and there are no variable selling, general, or administrative costs. The company has been approached by a foreign supplier who wishes to provide the air compressor component for $95 per unit. Total annual manufacturing costs, including air compressors, is as follows: Direct materials $54,000,000 Direct labor 83,000,000 Variable factory overhead 17,000,000 Fixed factory overhead 36,000,000 If Pure Comfort outsources the air compressor, it is expected that direct materials will be reduced by 25%, direct labor by 35%, and variable factory overhead by 30%. There will be no reduction in fixed factory overhead. (a) Calculate the total cost of each option (internal and outsource). Should Pure Comfort outsource the air compressor
What are some tasks commonly performed in Logistics Planning and Management Services jobs? Check all that apply.
processing customer payments
analyzing a product’s supply chain
overseeing budgets
organizing and tracking information
operating heavy machinery
hiring, training, and supervising workers
investigating causes of accidents and hazards
Answer:
the answers be B C D F
Explanation:
ya welcome god bless
Answer:
b
c
d
f
is correct shawty
Explanation:
Metlock Windows manufactures and sells custom storm windows for three-season porches. Metlock also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Metlock enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,280 and chooses Metlock to do the installation. Metlock charges the same price for the windows irrespective of whether it does the installation or not. The installation service is estimated to have a standalone selling price of $630. The customer pays Metlock $1,980 (which equals the standalone selling price of the windows, which have a cost of $1,140) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Metlock completes installation on October 15, 2020, and the customer pays the balance due.
Required:
Prepare the journal entries for Geraths in 2020.
Answer:
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
Cr Sales revenue $1,730
Cr Unearned sales revenue $550
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Explanation:
Preparation of the journal entries for Geraths in 2020
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
($1,730+$550+$1,980)
Cr Sales revenue $1,730
($1,980/$2,610*$2,280)
($1,980+$630=$2,610)
Cr Unearned sales revenue $550 ($630/$2,610*$2,280)
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
On January 1, 2021, Pine Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Pine to make annual payments of $800,000 at the beginning of each year for five years beginning on January 1, 2021 with the title passing to Pine at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. Pine uses the straight- line method of depreciation for all of its fixed assets. Pine accordingly accounts for this lease transaction as a finance lease. The lease payments were determined to have a present value of $3,335,888 at an effective interest rate of 10%. In 2021, Pine should record interest expense of:______.
a. 333,589
b. 253,589
c. 466,411
d. 546,411
Answer:
b. 253,589
Explanation:
According to the scenario, computation of the given data are as follows,
Present value of lease payment = $3,335,888
Payment in 2021 = $800,000
Interest rate = 10%
So, we can calculate the interest expense by using following formula,
Interest expense = (Present value of lease payment - Payment in 2021 ) × interest rate
Interest expense = ($3,335,888 - $800,000) × 10%
= $2,535,888 × 10%
= $253,588.8 or $253,589
In 2021, Pine should record interest expense of $253,589
g If nominal GDP is $4,000 billion and the amount of money demanded for transactions purposes is $800 billion, it can generally be concluded that Multiple Choice the asset demand for money is $3,200 billion. the total demand for money is $4,800 billion. on average, each dollar will be spent five times a year. the supply of money needs to be increased to meet the demand.
Answer:
on average, each dollar will be spent five times a year.
Explanation:
Based on the information given it can generally be concluded that ON AVERAGE, EACH DOLLAR WILL BE SPENT FIVE TIMES A YEAR reason been that nominal GDP of the amount of $4,000 billion Divided by $800 billion which is the amount of money that was demanded for transactions purposes will give us 5 indicating that on average, each dollar will be spent five times a year.
Calculated as:
nominal GDP /Money demanded
=$4,000 billion/$800 billion
=5
Therefore it can generally be concluded that on average, each dollar will be spent five times a year.
Assume the following information: Current spot rate of New Zealand dollar = $.41 Forecasted spot rate of New Zealand dollar 1 year from now = $.45 One-year forward rate of the New Zealand dollar = $.42 Annual interest rate on New Zealand dollars = 8% Annual interest rate on U.S. dollars = 9% Given the information in this question, the return from uncovered interest arbitrage by U.S. investors with $400,000 to invest is _______ A) about 11.97 B) about 10.63 C) about 11.12 D) about 13.27 E) about 18.54
Answer:
B) about 10.63
Explanation:
Calculation to determine what return from uncovered interest arbitrage by U.S. investors with $400,000 to invest is
First step is to calculate the Current Amount of New Zealand dollar
New Zealand dollar=$400,000/$.41
New Zealand dollar=$975,609.76
Second step is to calculate the Increase based on the Annual interest rate on New Zealand dollars
Increase in New Zealand dollars = $975,609.76×(1+.08)
Increase in New Zealand dollars = $975,609.76× (1.08)
Increase in New Zealand dollars=$1,053,658.54
Third step is to calculate the forward rate amount of the New Zealand dollar
Forward rate amount of New Zealand dollar = $1,053,658.54× .42
Forward rate amount of New Zealand dollar= $442,536.63
Now let calculate return from uncovered interest arbitrage
Return = ($442,536.63 –$400,000)/$400,000
Return = $42,536.63/$400,000
Return=0.1063*100
Return= 10.63%
Therefore return from uncovered interest arbitrage by U.S. investors with $400,000 to invest is about 10.63 %
After the issuance of its year 1 financial statements, Serenity Inc. discovered a computational error of $150,000 in the calculation of December 31, year 1 inventory. The error resulted in a $150,000 overstated in the cost of goods sold for the year ended December 31, year 1. In October, year 2, Serenity paid $500,000 to settle litigation initiated it during year 1. In the financial statements for year 2, the year 1 retained earnings balance, as previously reported, should be adjusted by (ignore income taxes):_________-
a. $350,000 debit
b. $500,000 debit
c. $150,000 credit
d. $650,000 credit
Answer: C. $150,000 credit
Explanation:
In the financial statements for year 2, it should be noted that the year 1 retained earnings balance, should be adjusted by $150,000 credit.
The corrections of errors should be treated as the period adjustments before. In this case, the $150,000 overstatement for the cost of goods that was sold in the previous year, will then be credited to the beginning balance of the retained earnings.
Therefore, the correct option is C.
Which of the following is a firm's cash cycle?
a. the average length of time between when a firm originally purchases its inventory and when it receives the cash back from selling its product
b. the average length of time between when a firm pays cash to purchase its initial inventory and when it receives cash from the sale of the product produced from that inventory
c. the average length of time between when a firm pays cash to purchase its initial inventory and when it sells that product
d. the average length of time between when a firm originally purchases its inventory and when it sells the product produced from that inventory
Answer:
he average length of time between when a firm pays cash to purchase its initial inventory and when it receives cash from the sale of the product produced from that inventory
Explanation:
A firm's cash cycle measure the time required for a company to go from cash paid (used in its operations) to cash received (as a result of operations)
It is an example of a liquidity ratio
Liquidity ratios measure the ability of a firm to meet its short term obligations
Cash cycle = days of inventory on hand + days of sales outstanding - number of days of payable
the shorter the cash cycle, the more liquid the firm is and the better for the firm
The following information relates to the only product sold by Harper Company. Sales price per unit $ 45 Variable cost per unit 27 Fixed costs per year 247,000 a. Compute the contribution margin ratio and the dollar sales volume required to break even. b. Assuming that the company sells 20,000 units during the current year, compute the margin of safety (in dollars).
Answer and Explanation:
The computation is shown below
a.
For Contribution Margin ratio
We know that
Contribution margin per unit = Sale price per unit - Variable cost per unit
= $45 - $27
= $18
Now
Contribution margin ratio = Contibution Margin per unit ÷ Sale price per unit
= $18 ÷ $45
= 0.4
Now
Break even sales dollar
Break even sales = Fixed Cost ÷ Contribution margin ratio
= $247,000 ÷ 0.4
= $617,500
b.
For Margin of Safety
The Margin of safety = Actual sales - Break Even Sales
where,
Actual sales(in $) = 20000 × 45
= $900,000
So, Margin of safety is
= $900,000 - $617,500
= $282,500
A company buys a machine for $69,000 that has an expected life of 7 years and no salvage value. The company uses straight-line depreciation. The company anticipates a yearly net income of $3,300 after taxes of 38%, with the cash flows to be received evenly throughout each year. What is the accounting rate of return
Answer:
9.57%
Explanation:
Accounting rate of return = Annual after tax net income/Average investment
Accounting rate of return = $3,300 / ($69,000/2)
Accounting rate of return = $3,300 / $34,500
Accounting rate of return = 0.095652174
Accounting rate of return = 9.57%
ABC Company rents its extra office space to XYZ Company for $600 per month. On November 1, 2020, ABC Company received $3,600 rent in advance from XYZ Company for the months of November 2020, December 2020, January 2021, February 2021, March 2021, and April 2021. The adjusting entry on December 31, 2020 (the end of the fiscal year) would include:
Answer:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
Explanation:
The adjusting entry on December 31, 2020 would include:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
Eagle Company uses a standard cost system that has provided the following data: Units of output manufactured 90 Direct labor Standard hours allowed 2 hours per unit of product Standard wage rate $ 15.60 per hour Actual direct labor 200 hours, total cost of $3,520 The direct labor rate variance for the period was: Multiple Choice $712 favorable. $400 favorable. $400 unfavorable. $712 unfavorable.\
Answer:
Direct labor rate variance= $400 unfavorable
Explanation:
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (15.6 - 17.6)*200
Direct labor rate variance= $400 unfavorable
Actual rate= 3,520 / 200= $17.6
Your firm has a contract to build one custom-designed machine that costs $100,000,000. This machine will operate at a paper recycling plant. It will take 1,000,000 pieces of paper per day, shred them into tiny fragments, grind them into paper dust, and create pulp used to make recycled paper envelopes. You need a gear motor to run at 10 horsepower with an output speed of 10 RPM. Your other option is buy a 10 horsepower, 1750 RPM motor, and design your own transmission system to reduce the speed to 10 RPM. Your firm has 10 engineers, and 2 of them would work full-time for six months to get the transmission system designed and built. The purchased gear motor would cost $10,000 and the purchase motor would cost $3,000. The transmission parts would cost another $3,000, saving you $4,000. Time is of the essence. You have only 6 months to design and build your machine.
Which makes more sense to you, buy the gear motor, or buy an AC motor and design and build your own gear transmission system?
Answer:
Buy the gear motor
Explanation:
Given that form the question Time is very important factor to be considered hence it will make more sense to buy the gear motor rather than buying the an AC motor because you cannot rely on the two engineers working fulltime for 6 months because of the factor of uncertainty which might lead to delay in shipment . also the difference in cost is not much compared to the value of the contract ( $1 billion )
Cost of Gear motor = $10,000
cost of AC motor = $3000 + $3000 = $6000
A business owned and run by one person is called a(n)
a business owned and run by one person is called a(n)
sole proprietorship
In early April 2020, an amendment to the annual budget for 2020 was approved by the city council for inflows and outflows in the Street Improvement Bond Debt Service Fund related to the bond issue. The debt service fund budget amendment provides for estimated other financing sources of $20,000 for the premium on bonds sold and estimated revenues of $12,500 for accrued interest on bonds sold; and appropriations in the amount of the one interest payment of $25,000 to be made during 2020. (The payment that is due on July 1, 2020.)
Required:
Record the budget for the Street Improvement Bond Debt Service Fund for year 2020.
Answer:
attached below
Explanation:
Given data :
Year : 2020
estimated other financing sources = $20,000 ( premium on bonds sold )
estimated revenues = $12500 ( accrued interest on bonds sold )
approximations in amount of one interest payment = $25,000 ( to be made during 2020 )
attached below is the Budget for the street improvement Bond debt service fund for year 2020
Eva Company sells one product at a price of $25 per unit. Variable expenses are 40 percent of sales, and fixed expenses are $25,000. What is the sales dollars level required to break even
Answer:
$41,667
Explanation:
Break even (Sales dollars) = Fixed Cost ÷ Contribution margin ratio
therefore
the sales dollars level required to break even is $41,667
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