Answer:
13000
Explanation:
13*1000
To open and operate Boo! City, a Halloween costume and paraphernalia shop, Dwayne and Erica form a business organization that combines the limited liability aspects of a corporation with the tax advantages of a partnership. Their form of business organization is
Answer:
a limited liability company.
Explanation:
From the question we are informed about To open and operate Boo! City, a Halloween costume and paraphernalia shop, Dwayne and Erica form a business organization that combines the limited liability aspects of a corporation with the tax advantages of a partnership. In this case, Their form of business organization is limited liability company.limited liability company can be regarded as business structure in which owners are not personally liable as regards to debts or liabilities of the company.It is hybrid entities with features of corporation and partnership as well as sole proprietorship.
CVS pharmacy collects data from bar-coded products. These data can be evaluated and combined to monitor which CVS products are in demand by customers. CVS uses this method to track pricing data to make sure that CVS pricing is competitive. This is an example of _______.
Answer:
InfoScan.
Explanation:
A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.
Basically, a universal product code (UPC) comprises of two (2) main parts;
A machine-readable barcode that contains sets of vertical black lines.
A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.
The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.
Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.
In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.
The dollar amount by which total rent exceeds base rent under a percentage lease for retail is referred to as:
Answer:
vacancy
Explanation:
Vacancy. The dollar amount by which total rent exceeds base rent under a percentage lease for retail is referred to as. Overage rent.
Under the WTO agreement:_________
a. tariffs are permitted to be levied by developed countries against developing countries but not against each other
b. a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures
c. there is no dispute resolution mechanism except for trade involving environmental products
d. countries are allowed to place trade barriers on member countries with no particular justification, because like GATT the WTO has no enforcement mechanism
Answer:
Under the WTO agreement:_________
b. a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures.
Explanation:
The WTO (World Trade Organization) Agreement is an international legal framework covering about 63 agreements affecting trade in goods, services, intellectual property, standards, investment, and other issues with some impacts on world trade. The legal framework is a system of rules that supports open, fair, and undistorted trade competition, allowing tariffs and some protections.
What does project failure mean? What are some examples?
Answer:
that's mean A project is considered a failure when it has not delivered what was required, in line with expectations
Explanation:
Therefore, in order to succeed, a project must deliver to cost, to quality, and on time; and it must deliver the benefits presented in the business case.
The following is selected financial information for Osmond Dental Laboratories for 2021 and 2022: 2021 2022 Retained earnings, January 1 $ 53,000 ? Net income 40,000 45,000 Dividends 12,000 25,000 Common stock 78,000 ? Osmond issued 3,000 shares of additional common stock in 2022 for $22,000. There were no other stock transactions. Prepare a statement of stockholders' equity for the year ended December 31, 2022. (Amounts to be deducted should be indicated with minus sign.)
Answer:
Osmond Dental Laboratories
Statement of Stockholders' Equity:
2022
Common stock $90,000
Retained earnings, December 31 101,000
Stockholders' equity $191,000
Explanation:
a) Data and Calculations:
Osmond Dental Laboratories for 2021 and 2022:
2021 2022
Retained earnings, January 1 $ 53,000 ?
Net income 40,000 45,000
Dividends 12,000 25,000
Common stock 78,000 ?
Analysis:
Cash $22,000 Common stock $22,000
Retained earnings, January 1 $ 53,000 81,000
Net income 40,000 45,000
Dividends -12,000 -25,000
Retained earnings, December 31 $ 81,000 $101,000
Common stock on December 31 = $90,000 ($78,000 + $22,000)
Statement of Stockholders' Equity:
Osmond Dental Laboratories for 2021 and 2022:
2021 2022
Common stock $78,000 $90,000
Retained earnings, December 31 81,000 101,000
Stockholders' equity $159,000 $191,000
. If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, what function of money is being described here?
Answer: unit of account.
Explanation:
Money is anything that's generally accepted by the people and used for making purchases. There are different functions of money such as:
• Means of payment
• Store of value
• Unit of account
• Standard for defered payment
If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, the function of money that is shown here is the unit of account.
Unit of account simply means the measurement of value. This is something through which goods can be valued.
true or false
2. Determining the producers preferences of products are
important when thinking of starting a business.
Explanation:
The answer is True!!!!!!!
a report must be sent promptly to FINRA if a registered employee of a member firm for all of the following EXCEPT: A has violated the Securities Acts B is the subject of a written customer complaint alleging theft C is suspended or expelled by another Self Regulatory Organization D is ticketed for careless driving
Answer:
D
is ticketed for careless driving
Explanation:
FINRA Rule 4530 says one can report
each member of the firm promptly to FINRA, within 30 calendar days,
Swiss Furniture Company manufactures bookshelves and uses an activity-based costing system to allocate all manufacturing conversion costs. The following information is provided for the month of May:
Activity Estimated Indirect Activity Costs Allocation Base Estimated Quantity of Allocation Base
Materials handling $6,300 Number of parts 9,100 parts
Assembling $14,000 Number of parts 9,100 parts
Packaging $2,680 Number of bookshelves 910 bookshelves
Required:
Each bookshelf consists of 10 parts. The direct materials cost per bookshelf is $32.What is the total manufacturing cost per bookshelf?
Answer:
Total unitary manufacturing cost= $57.25
Explanation:
First, we need to calculate the activities rates:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Materials handling= 6,300/9,100= $0.69 per part
Assembling= 14,000/9,100= $1.54 per part
Packaging= 2,680/910= $2.95 per bookshelve
Each bookshelf consists of 10 parts. The direct materials cost per bookshelf is $32.
Now, we can allocate conversion costs to each unit:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Materials handling= 0.69*10= $6.9
Assembling= 1.54*10= $15.4
Packaging= 2.95*1 = $2.95
Total allocated costs per unit= $25.25
Finally, the total unitary manufacturing cost:
Total unitary manufacturing cost= 32 + 25.25
Total unitary manufacturing cost= $57.25
Lynx Corp. The data presented below for Lynx Corp. are for the year ended December 31, 2017: Sales (100% on credit) $1,000,000 Sales returns 30,000 Accounts receivable (December 31, 2017) 170,000 Allowance for doubtful accounts (credit balance) (before adjustment at December 31, 2017) 1,300 Estimated amount of uncollectible accounts based on aging analysis 14,000 See the data for Lynx Corp. If Lynx Corp. uses the aging of accounts receivable approach to estimate its bad debts, what amount will be reported as bad debts expense for 2017
Answer:
Allowance for Doubtful Accounts 69,000
Explanation:
If the company estimates its bad debt to be 2% of net credit sales:
sales 2,500,000
return and allowance (50,000)
net sales 2,450,000
Then, we calculate 2% of this amount:
2,450,000 x 0.02 = 49,000
As the uncollectible amounts are related to sales rather than account receivable we adjust for the full value giving an ending value of:
beginning 20,000 + adjustment 49,000 = 69,000
Please answer the question posted in the attached image
Answer:
80
Explanation:
Years = 20
Compounding month = 4 (quarterly)
N is the number of compounding factors = 20 years * 4 periods per year = 80. So, the value of n in the F/A factor (for determining F/A factor the end of the 20 year period) is 80.
We have a $500,000 line of credit with a 10% compensating balance. The quoted interest rate is 4.5%. We need $200,000 for inventory for one year. What is the effective interest rate we are paying on this credit line
Answer:
5.0%
Explanation:
Calculation to determine the effective interest rate we are paying on this credit line
First step is to calculate cost of inventory we need
Inventory=$200,000/(1 - 0.10)
Inventory=$222,222
Second step is to calculate Interest paid
Interest paid = $222,222(.045)
Interest paid= $9,999.99
Interest paid=$10,000 (Approximately)
Now let calculate the Effective rate
Effective rate =$10,000/$200,000
Effective rate= 0.05*100
Effective rate=5.0%
Therefore the effective interest rate we are paying on this credit line is 5.0%
Interest can be regarded as the Group of answer choices payment to entrepreneurs for incurring risk in the production of new goods. return earned by capital as an input in the production process.
Answer:
return earned by capital as an input in the production process.
Explanation:
The interest means the return that is earned by the capiatl which represent as an input for the process of the production. Also it shows the reward for the capital purpose as the factor of production like land, labor, capital, etc
So, as per the given situation, the last option should be correct and the same is to be considered
Therefore the other options seems incorrect
Abel Corporation uses activity-based costing. The company makes two products: Product A and Product B. The annual production and sales of Product A is 320 units and of Product B is 640 units. There are three activity cost pools, with total cost and activity as follows:
Total Activity
Activity Cost Pools Total Cost Product A Product B Total
Activity 1 $25,530 950 200 1,150
Activity 2 $40,140 2,000 1,600 3,600
Activity 3 $10,649 150 250 400
The activity rate for Activity 2 is closest to:
a. 11.15
b. 20.07
c. 25.09
d. 42.25
Answer:
Activity 2= $11.15
Explanation:
Giving the following information:
Total Activity Activity Cost Pools Total Cost Product A Product B Total
Activity 2 $40,140 2,000 1,600 3,600
To calculate the activity rate for Activity 2, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Activity 2= 40,140 / 3,600
Activity 2= $11.15
The costs and revenues associated with two alternatives are listed below: Alternative 1 Alternative 2 Projected revenue $ 100,000 $ 125,000 Unit-level costs 20,000 30,000 Batch-level costs 20,000 25,000 Product-level costs 15,000 15,000 Facility-level costs 10,000 10,000 Which alternative should be selected based on this information
Answer:
Alternative 2
Explanation:
Calculation to determine Which alternative should be selected based on this information
Item Alt. 1 Alt. 2
Alt. 1 Alt. 2
Projected revenue $100,000 $125,000
Unit-level costs (20,000) (30,000)
Batch-level costs (20,000) (25,000)
Product-level costs (15,000) (15,000)
Facility-level costs (10,000) (10,000)
Profit $ 35,000 $ 45,000
Thereforer Based on the above calculation the alternative that should be selected based on this information will be ALTERNATIVE 2 because it has a higher profit of the amount of $45,000
The $1,000 face value ABC bond has a coupon rate of 10%, with interest paid annually, and matures in 3 years. If the bond is priced to yield 12%, what is the bond's value today
Answer:
Bond Price = $951.9633746 rounded off to $951.96
Explanation:
To calculate the quote/price of the bond today, which is the present value of the bond, we will use the formula for the price of the bond. As the bond is an annual bond, we will use the annual coupon payment, annual number of periods and annual YTM. The formula to calculate the price of the bonds today is attached.
Coupon Payment (C) = 1000 * 10% = $100
Total periods remaining (n) = 3
r or YTM = 12%
Bond Price = 100 * [( 1 - (1+0.12)^-3) / 0.12] + 1000 / (1+0.12)^3
Bond Price = $951.9633746 rounded off to $951.96
The balance in the prepaid insurance account, before adjustment at the end of the year, is $18,630. The year end is March 31.
Journalize the March 31 adjusting entry required under each of the following alternatives for determining the amount of the adjustment: (a) the amount of insurance expired during the year is $15,300; (b) the amount of unexpired insurance applicable to future periods is $3,330. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS
General Ledger
ASSETS
11 Cash
12 Accounts Receivable
13 Supplies
14 Prepaid Insurance
15 Land
16 Equipment
17 Accumulated Depreciation-Equipment
19 Accumulated Depreciation-Automobiles
LIABILITIES
21 Accounts Payable
22 Unearned Fees
23 Salaries Payable
24 Taxes Payable
EQUITY
31 John Doe, Capital
32 John Doe, Drawing
REVENUE
41 Fees Earned
EXPENSES
51 Advertising Expense
52 Insurance Expense
53 Rent Expense
54 Salary Expense
55 Supplies Expense
56 Utilities Expense
57 Depreciation Expense
59 Miscellaneous Expense
Journalize the March 31 adjusting entry required when the amount of unexpired insurance applicable to future periods is $8,750. Refer to the Chart of Accounts for exact wording of account titles.
Answer:
A. Dr Insurance Expense $15,300.00
Cr Prepaid Insurance 115,300.00
B. Dr Insurance Expense $15,300.00
Cr Prepaid Insurance 115,300.00
C. Dr Insurance Expense $9,880.00
Cr Prepaid Insurance $9,880.00
Explanation:
A. Preparation of the March 31 adjusting entry required when the amount of insurance expired during the year is $15,300
Dr Insurance Expense $15,300.00
Cr Prepaid Insurance 115,300.00
B. Preparation of the March 31 adjusting entry required when the amount of unexpired insurance applicable to future periods is $3,330
Dr Insurance Expense $15,300.00
Cr Prepaid Insurance $5,300.00
($18,630-$3,330)
C.Preparation of the March 31 adjusting entry required when the amount of unexpired insurance applicable to future periods is $8,750
Dr Insurance Expense $9,880.00
Cr Prepaid Insurance $9,880.00
($18,630-$8,750)
Martinson Inc. manufactures industrial-sized landscaping trailers and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data: Budgeted output units 40,000 units Budgeted machine-hours 10,000 hours Budgeted variable manufacturing overhead costs for 40,000 units $310,000 Actual output units produced 36,500 units Actual machine-hours used 14,600 hours Actual variable manufacturing overhead costs $350,400 What is the budgeted variable overhead cost rate per output unit
Answer:
Overhead rate per unit= $124
Explanation:
Giving the following information:
Budgeted output units 40,000 units
Budgeted machine-hours 10,000 hours
Budgeted variable manufacturing overhead costs for 40,000 units $310,000
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= 310,000 / 10,000
Predetermined manufacturing overhead rate= $31 per machine hour
Now, for each unit:
Machine hours per unit= 40,000/10,000= 4
Overhead rate per unit= 31*4
Overhead rate per unit= $124
Bramble Corp. expects to purchase $110000 of materials in July and $130000 of materials in August. Three-fourths of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase. How much will August's cash disbursements for materials purchases be
Answer:
$125,000
Explanation:
August's cash disbursements for materials purchases wiill be:
= July month purchase paid amount + August month purchase paid amount
= ($110,000 * 25%) + ($130,000 * 75%)
= $27,500 + $97,500
= $125,000
The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $710,000 $630,000 $565,000 Sales on account 5,691,000 4,628,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume a 365-day year. Do not round intermediate calculations. Round your answers to one decimal place. 20Y3 20Y2 1. Accounts receivable turnover fill in the blank 2 fill in the blank 3 2. Number of days' sales in receivables fill in the blank 4 days fill in the blank 5 days The collection of accounts receivable has . This can be seen in both the in accounts receivable turnover and the in the collection period.
Answer:
Sigmon Inc.
1. Accounts receivable turnover = Sales/Average accounts receivable
20Y3 = 8.49x
20Y2 = 7.75x
2. Number of days sales in receivables = 365/Accounts receivable turnover
20Y3 = 43 days
20y2 = 47.1 days
3. The collection of accounts receivable has improved from 47.1 days to 43 days. This can be seen in both the in accounts receivable turnover and the in the collection period.
Explanation:
a) Data and Calculations:
Terms of all sales are 2/10, n/45
20Y3 20Y2 20Y1
Accounts receivable, end of year $710,000 $630,000 $565,000
Sales on account 5,691,000 4,628,500
Average accounts receivable 670,000 597,500
1. Accounts receivable turnover = Sales/Average accounts receivable
20Y3 = 8.49x ($5,691,000/$670,000)
20Y2 = 7.75x ($4,628,500/$597,500)
2. Number of days sales in receivables = 365/Accounts receivable turnover
20Y3 = 43 days (365/8.49)
20y2 = 47.1 days (365/7.75)
The following information is available for Kiss Company: Sales$100,000 Operating expenses$94,000 Operating assets$40,000 Stockholder's equity$25,000 Cost of capital 10% What is Kiss Company's residual income
Answer:
the residual income is $2,000
Explanation:
The computation of the residual income is shown below:
= Operating income - rate of return × operating assets
= ($100,000 - $94,000) - (10% × $40,000)
= $6,000 - $4,000
= $2,000
hence, the residual income is $2,000
The same is to be considered and relevant
stock a has an expected return of 20 and stock b has an expected return of 5. what is the expected return on a portfolio this comprised of 67^ of stock a and 33% stoc k b
Answer:
15.05%
Explanation:
Calculation to determine the expected return on a portfolio
Using this formula
Expected return = (Return on stock A * Percentage invested in stock A) + ( Return on Stock B * Percentage invested in Stock B)
Let plug in the formula
Expected return= (20% * 67%) + (5% * 33%)
Expected return= 13.4% + 1.65%
Expected return= 15.05%
Therefore the expected return on a portfolio is 15.05%
If your firm is a potential entrant thinking about entering an industry, you want the entry barriers to be _____.
Answer:
High
Explanation:
Entrants can be regarded as firms that are willing in entering a particular industry. As regards to market theory, a potential entry can become actual entry into a market on some condition such as when existing firms that are in the market have their earns above the Normal profit. It should be noted that If your firm is a potential entrant thinking about entering an industry, you want the entry barriers to be High
Help please Briefly explain how technology affects promotional strategies.
Answer: Technology has transformed marketing by making campaigns more personalized and immersive for people and creating ecosystems that are more integrated and targeted for marketers. And it's not just the interface between brands and people that have been transformed. ... 30% will prioritise technology over creativity.
Select the correct revenue recognition principle for each of the following. Clear All Recognize revenue over the passage of time. Recognize revenue when the customer takes possession of the product. Recognize revenue when cash is collected. Recognize revenue when service is performed.
Answer:
Recognize revenue when service is performed.
Explanation:
Revenue recognition principle is an accounting principle which states that revenue should only be recognized when it is earned(when service has been rendered or completed) and not when cash is being collected.
What the above means is that revenue can only be earned when services are completed or rendered and not necessarily when payment is made. The reason is that payment may not be made for several weeks even after service has been rendered hence the principle or concept is incorporated into the accrual basis of accounting.
Weighted-average method, spoilage, equivalent units. (CMA, adapted)
Consider the following data for November 2017 from MacLean Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the process and conversion costs are added evenly during the process. Spoilage is detected upon inspection at the completion of the process. Spoiled units are disposed of at zero net disposal value MacLean Manufacturing Company uses the weighted-average method of process costing
Physical Units Direct Materials
Pennants
Work in process, November 1 1,350 $ 966
Started in November 2017 ?
Good units completed and transferred 8,800
out during November 2017
Normal spoilage 80
Abnormal spoilage 50
Work in process, November 30 1700
Total costs added during November 2017 $10,302
aDegree of completion: direct materials, 100%, conversion costs, 45%
bDegree of completion: direct materials, 100%, conversion costs, 35%
Compute equivalent units for direct materials and conversion costs.
Answer:
Equivalent Units: Materials = 10630
Equivalent Units : Conversion = 9525
Explanation:
MacLean Manufacturing Company
Weighted-Average Method
Process Costing
Particulars Units % Of Completion Equivalent Units
Materials Conversion Materials Conversion
Units completed
and transferred 8,800 100 100 8800 8800
Add
Ending Inventory 1700 100 35 1700 595
Normal Spoilage 80 100 100 80 80
Abnormal Spoilage 50 100 100 50 50
Equivalent Units 10630 9525
The weighted average method equivalent unit production implies that the units completed and the ending inventory completed plus any spoilage normal or abnormal is taken is accounted for.
The weighted average method EUP can also be determined by adding the beginning units and units started
The normal and abnormal spoilage are taken 100 % because all the spoilage is evident once the goods are completed.
Supply chain management:is based on the concept of just-in-timefocuses on removing scheduling bottlenecks within the companyfocuses on the internal routing of products from raw materials to finished goodsis a complex computerized system for managing resources efficientlyis accurately described by none of the above
Answer:
is based on the concept of just-in-time.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers.
Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services from the manufacturers to the consumers.
Additionally, all businesses tend to use supply chain management to eliminate waste and maximize value for growth and development.
Hence, supply chain management is based on the concept of just-in-time (JIT) because it is a management framework that is focused on cutting manufacturing costs while increasing efficiency between suppliers and consumers through the use of a proper inventory system.
At the end of year 8, Shore Co. held trading securities that cost $17,500 and which had a year-end market value of $19,000. All of these securities were sold during year 9 for $22,000. For the year ended on December 31, year 8, Shore should report a gain of
Answer:
$1,500
Explanation:
Calculation to determine what Shore should report as a gain
Using this formula
Unrealized gain=Market value-Trading securities value
Let plug in the formula
Unrealized gain=$19,000-$17,500
Unrealized gain=$1,500
Therefore Shore should report a gain of $1,500
Zeta, Inc., a calendar year taxpayer, suffers a casualty loss of $45,000. Zeta recovered insurance of $30,000. How much of the casualty loss will be a tax deduction to Zeta, Inc.
Answer:
$15,000
Explanation:
Calculation to determine How much of the casualty loss will be a tax deduction to Zeta, Inc.
Using this formula
Casualty loss tax deduction=Casualty loss-Insurance recovered
Let plug in the formula
Casualty loss tax deduction=$45,000-$30,000
Casualty loss tax deduction=$15,000
Therefore the amount of the casualty loss that will be a tax deduction to Zeta, Inc. is $15,000