Answer:
I think manager??????????
The one responsible for the setup of speakers for a banquet is the event manager, Catering manager or the banquet head of administration who is supervising the team.
What is a banquet?The banquet space is furnished with decorations, accessories, and table arrangements. The banquet manager hires and schedules staff, oversees the banquet while it is being held, etc.
At the start of the banquet, the catering manager is present to ensure that all of the guests' demands are being met.He did a good job of allocating the resources, monitoring the process, and finishing on schedule.
The setup of the dinner, table arrangements, staff scheduling, and other tasks are all coordinated by the banquet supervisor. The chef is in charge of guaranteeing excellence in banquets and reports to the executive chef.
Learn more about managers, here:
brainly.com/question/29023210
#SPJ2
Consider the supply and demand schedules for calzones at a local pizzeria. Use the information in the schedules to answer the five questions. Demand Price (P) $13 $12 $11 $10 $9 $8 $7 $6 $5 $4 Quantity (Q) 20 40 60 80 100 120 140 160 180 200 Supply Price (P) $4 $5 $6 $7 $8 $9 $10 $11 $12 $13 Quantity (Q) 20 30 40 50 60 70 80 90 100 110 What is the equilibrium price
Answer:
10 dollars
Explanation:
First of all you have to arrange the values properly so that the prices would correspond with the quantity demanded or supplied.
After arranging, I found the equilibrium price to be 10 dollars, here we can see that the price of the quantity of goods supplied is the same as the price quantity of goods demanded. The number of goods that were demanded and supplied at this price, 10 dollars is 80 units
Technician A says that hazardous waste disposed of into the soil, can cause air pollution. Technician B says that disposal information is found in the product identification section of an SDS. Who is right?
Answer: B
Explanation:
Technician B is correct in his statement that the disposal information is found in the product identification section of an SDS.
What is disposal information?The information, which is mentioned under the product identification, and helps in identification of the category and ways of disposing the products, is known as disposal information.
Hence, the technician B is correct regarding the disposal information.
Learn more about disposal information here:
https://brainly.com/question/20392855
#SPJ2
A corporation had the following assets and liabilities at the beginning and end of this year.
Beginning of the year End of the year
Assets $95,500 141,000
Liabilities $40941 57,105
a. Owner made no investments in the business, and no dividends were paid during the year.
b. Owner made no investments in the business, but dividends were $600 cash per month
c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock
d. Dividends were $600 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases (Decreases in equity should be indicated with a minus sign.)
Beginning of the year Equity
Owner investments
Dividends
Net Income (loss)
End of the year-Equity
Answer:
a. Net Income =$29,336
b. Net Income = $29,936
c. Net Loss = - $15,664
d. Net Income = $5,064
Explanation:
Assets = Liabilities + Equity
Equity = Asset - Liability
Beginning Equity :
Beg Equity = $95,500 - $40941
Beg Equity = $54,559
Ending Equity:
Ending Equity = $141,000 - $57,105
Ending equity = $83,895
Net Income = Ending equity - Beg equity + Dividends paid - investments made
a. When no investments made and no dividends paid:
Net Income = $83,895 - $54,559 + 0 - 0
Net Income =$29,336
b. When no investments made and $600 dividend paid:
Net Income = $83,895 - $54,559 + $600 - 0
Net Income = $29,936
c. When no dividend paid and $45,000 invested in common stock:
Net Income = $83,895 - $54,559 + 0 - $45,000
Net Income = - $15,664
d. When $35,000 investments made and $600 dividend paid:
Net Income = $83,895 - $54,559 + $600 - $35,000
Net Income = $5,064
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of net credit sales will be uncollectible. On January 1, theAllowance for Doubtful Accounts had a credit balance of $2,400. During the year, Abbott wrote off accounts receivable totaling $1,800 and made credit sales of $100,000.There were no sales returns or sales discounts during the year. After the adjusting entry, the December 31, balance in the Bad Debt Expense will be:________.
a. $1,200
b. $3,000
c. $3,600
d. $7,200
Answer:
b. $3,000
Explanation:
According to the above information, the following data are given
Credit sales = $100,000
Uncollectible percentage = 3%
So, after the adjustment by using allowance method, Bad debt expense can be calculated as;
Bad debt expense = Credit sales × Uncollectible percentage
= $100,000 × 3%
= $3,000
Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided not to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the
Answer:
combined target market approach
Explanation:
When a company engages in a combined target market approach, it segregates potential markets into pairs or small groups which share similarities and then offers their products or services to them. The marketing mix will be similar for all the small segments that are within the larger group.
Before World War I, $20.75 was needed to buy one ounce of gold. If, at the same time, one ounce of gold could be purchased in France for , what was the exchange rate between French francs and U.S. dollars?
The implied French franc/US dollar exchange rate is FF________$
The implied US dollar/French franc exchange rate is $ ________. (Round to four decimal places.)
Answer:
The implied French franc/US dollar exchange rate is 19.7590 FF/US dollar
The implied US dollar/French franc exchange rate = 0.5061 US dollar/ FF
Explanation:
The question is incomplete.
In the given question Purchase price in France is not given
So, Let us assume,
one ounce of gold could be purchased in France for FF 410.00
Now,
a)
$20.75 = FF 410.00
⇒$1 = FF[tex]\frac{410.00}{20.75}[/tex] = 19.7590 FF/US dollar
∴ we get
The implied French franc/US dollar exchange rate is 19.7590 FF/US dollar
b)
The implied US dollar/French franc exchange rate = [tex]\frac{1}{19.7590}[/tex] = 0.5061 US dollar/ FF
Firms use economic analyses to better understand the overall outlook for the economy and how economic changes will impact the firm.
a. True
b. False
Answer:
True.
Explanation:
It is a true statement.
The firm economic result that is, financial performance depends upon various factors that includes external forces also.
Further, to remain in industry ( or for stable growth ), the firm have to synchronize their activities with the environment.
The question specifies economic environment that relatively impact the firm. So , this statement is true.
On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,060 in cash and merchandise inventory valued at $56,290. Wallace invests certain business assets at valuations agreed upon, transfers business liabilities, and contributes sufficient cash to bring her total capital to $59,950. Details regarding the book values of the business assets and liabilities, and the agreed valuations, follow:
Wallace’s Ledger Agreed-Upon
Balance Valuation
Accounts Receivable $18,650 $17,770
Allowance for Doubtful Accounts 1,580 1,950
Equipment 83,230 54,190
Accumulated Depreciation 30,260 –
Accounts Payable 14,910 14,910
Notes Payable (current) 35,970 35,970
The partnership agreement includes the following provisions regarding the division of net income: interest on original investments at 10%, salary allowances of $22,660 (Keene) and $30,270 (Wallace), and the remainder equally.
Required:
a. Journalize the entries on March 1 to record the investments of Keene and Wallacein the partnership accounts.
b. Prepare a balance sheet as of March 1, 20Y8, the date of formation of the partnership of Keene and Wallace.
Answer:
Explanation:
a. The journal entries are shown below:
Cash $21,060
Merchandise inventory $56,290
To Eric Keene's Capital $77,350
(To record investment made)
Accounts receivable $17,770
Equipment $54,190
Cash (Liabilities - Assets) $40,820
To Allowance for doubtful accounts $1,950
To Accounts payable $14,910
To Notes payable (current) $35,970
To Reene Wallace's capital $59,950
(Being capital contribution by Reene wallace is recorded)
2.
KEENE AND WALLACE
Balance Sheet
March 1, 20Y8
Assets
Current Assets
Cash (21,060 + 40,820) $61,880
Accounts Receivable Less Allowance $15,820
Merchandise inventory $56,290
Total current assets $133,990
Property, plant and Equipment
Equipment $54,190 54,190
Total Assets $188,180
Liabilities
Current Liabilities
Accounts Payable $14,910
Notes Payable $35,970
Total liabilities $50,880
Partner's Equity
Eric Keene's capital $77,350
Renee Wallace's capital $59,950
Total partner's equity $137,300
Total liabilities and partner's equity $188,180
Universal Foods issued 10% bonds, dated January 1, with a face amount of $150 million on January 1, 2016. The bonds mature on December 31, 2030 (15 years). The market rate of interest for similar issues was 12%. Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method. Required: 1. Determine the price of the bonds at January 1, 2016. 2. Prepare the journal entry to record their issuance by Universal Foods on January 1, 2016. 3. Prepare the journal entry to record interest on June 30, 2016. 4. Prepare the journal entry to record interest on December 31, 2023.
Answer:
1. $ 129,352,725
2. Jan 1 2016
Jan 1 2016
Dr Cash $ 129,352,725
Dr Discount on issue of bonds $20,647,275
Cr Bonds payable $150,000,000
3. June 30, 2016
Dr Interest expense $8,188,243
Cr Discount on bonds payable $688,243
Cr Cash $7,500,000
4. December 31, 2023
Dr Interest expense $8,188,243
Cr Discount on bonds payable $688,243
Cr Cash $7,500,000
Explanation:
1. Calculation to Determine the price of the bonds at January 1, 2016
First step is to find Present value of an ordinary annuity of $1: n = 30, i = 6% (PVA of $1) using ordinary annuity table
Present value of an ordinary annuity of $1: n = 30, i = 6% (PVA of $1)
Present value of an ordinary annuity of $1=13.76483
Second step is to find the Present value of $1: n = 30, i = 6% (PV of $1)
Present value of $1: n = 30, i = 6% (PV of $1)=0.17411
Now let calculate the Price of the bonds at January 1, 2016
Interest $ 103,236,225
[(10%/2 semiannually*$150,000,000) *13.76483]
Add Principal $26,116,500
($150,000,000 *0.17411 )
Present value (price) of the bonds $ 129,352,725
($ 103,236,225+$26,116,500)
Therefore the Price of the bonds at January 1, 2016 will be $ 129,352,725
2. Preparation of the journal entry to record their issuance by Universal Foods on January 1, 2016.
Jan 1 2016
Dr Cash $ 129,352,725
($ 103,236,225+$26,116,500)
Dr Discount on issue of bonds $20,647,275
($150,000,000-$ 129,352,725)
Cr Bonds payable $150,000,000
(Being to record issue of Bond)
3. Preparation of the journal entry to record interest on June 30, 2016
June 30, 2016
Dr Interest expense $8,188,243
($7,500,000 + $688,243)
Cr Discount on bonds payable $688,243
($20,647,275 ÷ 30)
Cr Cash $7,500,000
(10%/2 × $150,000,000)
(Being to record interest paid)
4. Preparation of the journal entry to record interest on December 31, 2023.
December 31, 2023
Dr Interest expense $8,188,243
($7,500,000 + $688,243)
Cr Discount on bonds payable $688,243
($20,647,275 ÷ 30)
Cr Cash $7,500,000
(10%/2× $150,000,000)
(Being to record interest paid)
1. XYZ Co. incurred the following costs related to the office building used in operating its sports supply company: a. Replaced a broken window. b. Replaced the roof that had been on the building 23 years. c. Serviced all the air conditioners before summer started. d. Replaced the air conditioners with refrigerated air conditioners in the customer service areas. e. Added a warehouse to the back of the building. f. Repaint the interior walls. g. Installed window shutters on all windows. Classify each of the costs as a capital expenditure or a revenue expenditure. For those costs identified as capital expenditures, classify each as an additional or replacement component.
Answer:
2,4,5,7
Explanation:
The following statements contains some analysis of policies that address the death penalty. Categorize each statement as positive or normative.
a. Killing people is bad.
b. By executing convicted murderers, the government may deter potential murderers and, therefore, decrease the murder rate.
c. It is immoral for the government to kill people.
d. The government should not execute anyone, even murderers.
Answer:
Positive
normative
normative
normative
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, it is a fact that killing is bad. It causes pain to family and friends of the deceased.
Normative economics is based value judgements, opinions and perspectives. For example, the statement - It is immoral for the government to kill people is subjective as what is considered moral is subjective
Following are selected account balances from Penske Company and Stanza Corporation as of December 31, 2018:
Penske Stanza
Revenues $ (795,000 ) (700,000)
Cost of goods sold 283,250 175,000
Depreciation expense184,000 302,000
Investment income Not given 0
Dividends declared 80,000 60,000
Retained earnings, 1/1/18(732,000 (268,000)
Current assets 510,000 668,000
Copyrights 1,072,000 558,500
Royalty agreements 722,000 1,116,000
Investment in Stanza Not given 0
Liabilities (562,000 ) (1,631,500)
Common stock (600,000 )($20 par) (200,000 )($10 par)
Additional paid-in capital (150,000) (80,000)
Note: Parentheses indicate a credit balance.
On January 1, 2018, Penske acquired all of Stanza’s outstanding stock for $818,000 fair value in cash and common stock. Penske also paid $10,000 in stock issuance costs. At the date of acquisition copyrights (with a six-year remaining life) have a $632,000 book value but a fair value of $746,000.
As of December 31, 2018, what is the consolidated copyrights balance?
For the year ending December 31, 2018, what is consolidated net income?
As of December 31, 2018, what is the consolidated retained earnings balance?
As of December 31, 2018, what is the consolidated balance to be reported for goodwill?
a. Consolidated copyrights
b. Consolidated net income
c. Consolidated retained earnings
d. Consolidated goodwill
Answer:
D or C
Explanation:
Use the midpoint method when applicable to calculate the price elasticity of demand.
a. Contain Yourself!, a plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000.
b. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5.
c. Capital Metro decides to increase bus fare rates from $2.00 to $2.21. Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.
1. Elastic
2. Perfectly elastic
3. Perfectly inelastic
4. Unit elastic
5. Inelastic
Answer:
Follows are the solution to the given points:
Explanation:
In point a:
This business of plastic containers is increasing its Lunchbox Product Signature price around $3.00 and $4.00. The volumes produced consequently declined around 20,000 to 15,000.
[tex]\text{Price elasticity} = \frac{\frac{15000-20000}{(\frac{15000+20000}{2})}}{\frac{4-3}{(4+\frac{3}{2})}}[/tex]
[tex]=\frac{\frac{-5000}{(\frac{35000}{2})}}{\frac{1}{(\frac{7}{2})}}\\\\=\frac{\frac{-5000}{17500}}{\frac{1}{3.6}}\\\\=\frac{\frac{-50}{175}}{\frac{1}{3.6}}\\\\= \frac{-0.2857}{0.2857} \\\\ =-1[/tex]
The price elasticity also becomes unitary
In point b:
U.S. economic theory states that the elasticity of fuel demand is 0.5 because prices would be less than 1 and so are non-elastic.
In point c:
The capital Metro agrees and add $2.00 to $2.21 also for bus fares. Consequently, with an average of 70,000 drivers a days to both a daily average 61,000 drivers, its passenger numbers who take the bus in Austin falls.
[tex]\text{Price elasticity} = \frac{\frac{61000-70000}{(61000+ \frac{70000}{2})}}{ \frac{2.21-2}{(2.21+\frac{2}{2})}}[/tex]
[tex]= \frac{\frac{-9000}{(61000+ 35000)}}{ \frac{0.21}{(2.21+1)}} \\\\= \frac{\frac{-9000}{(96000)}}{ \frac{0.21}{(3.21)}} \\\\= \frac{\frac{-9}{(96)}}{ \frac{0.21}{(3.21)}} \\\\= \frac{-0.1374}{0.099} \\\\ = -1.38[/tex]
The value being higher than 1 is elastic.
Simon lost $9,050 gambling this year on a trip to Las Vegas. In addition, he paid $2,550 to his broker for managing his $255,000 portfolio and $1,285 to his accountant for preparing his tax return. In addition, Simon incurred $3,420 in transportation costs commuting back and forth from his home to his employer's office, which were not reimbursed. Calculate the amount of these expenses that Simon is able to deduct (assuming he itemizes his deductions).
Answer:
$0
Explanation:
Based on the information we were told that he lost the amount of $9,050 for the gambling he did this year which means that the DEDUCTIBLE amount will be $0 reason been that Gambling losses amount will only be DEDUCTIBLE in a situation where he won the gambling which therefore means that since he lost he CANNOT deduct the gambling loss amount of $9,050 including all the expenses amount.
Therefore the amount of these expenses that Simon is able to deduct will be $0.
Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June utilities cost to be $8,000 plus $0.70 per jacket. After the month ended, it was reported that 2930 jackets were sold in June and $10,190 was spent on utilities. What is the planning budget for utilities in June
Answer: $10240
Explanation:
Based on the information that have been provided in the question, the planning budget for the utilities in June will be calculated as:
= Fixed expenses + (Budgeted activity × Variable cost per unit)
where
Fixed expenses = $8000
Budgeted activity = 3200 jackets
Variable cost per unit = $0.70
Therefore, planning budget will be:
= $8,000 + (3,200 × $0.70)
= $8,000 + $2240
= $10240
Logan, a 50-percent shareholder in Military Gear Incorporated (MG), is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume MG has a $107,000 tax loss for the year, Logan's tax basis in his MG stock was $153,500 at the beginning of the year, and he received $78,500 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24 percent, how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation
Answer:
$11,170
Explanation:
Calculation for how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation
First step is to calculate the payment If Military Gear Inc is a C corporation,
Payment= $78,500 × 24%
Payment= $18,850
Second step First step is to calculate the payment , if Military Gear Inc is a S corporation,
Payment = ($78,500 −$46,500) × 24%
Payment= $7,680
The net effect would be
net effect= $159,000 - $107,000
net effect= $46,500
Now let calculate how much more tax will Logan pay currently if MG
Tax = 18,850 - $7,680
Tax= $11,170
On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period.
Answer and Explanation:
The journal entries are shown below:
Cash $84,000,000
To Notes payable $84,000,000
(Being issuance of the note is recorded)
Interest expense($84,000,000 × 15% × 3 ÷ 12) $3,150,000
To Interest payable $3,150,000
(Being interest expense is recorded)
3. During a typical performance appraisal, the employee's supervisor evaluates the employee's work in terms of
• A. diverse management strategy.
O B. industry norms.
O C. his or her contribution to the organization.
O D. economic forecasts.
Answer:
O C. his or her contribution to the organization.
Explanation:
A performance appraisal reviews an employee's job performance and overall contribution to a company. It is also called an annual review, performance review or evaluation, or employee appraisal. Performance appraisal provides feedback on each employee's performance, serves as a basis for modifying or changing work behavior, and provide data to managers with which they may judge future job assignments and performance.
Suppose that Econistan produces two goods, marshmallows and toothpicks, under conditions of constant opportunity costs. Given its resources, the maximum number of marshmallows that it can make is 1000 pounds, and the opportunity cost of making one additional box of toothpicks is 4 pounds of marshmallows. a) (5 points) What is the maximum amount of toothpicks that Econistan can produce
Answer:
maximum number of toothpicks to be produced = 250
Explanation:
given data
maximum number of marshmallows = 1000 pounds
opportunity cost = 4 pounds
solution
we get here max no of toothpick that is express as
max no of toothpick = maximum number of marshmallows ÷ opportunity cost one toothpicks .......................1
put here value
max no of toothpick = [tex]\frac{1000}{4}[/tex]
max no of toothpick = 250
maximum number of toothpicks to be produced = 250
Company A shares are currently trading at $20 per share. A survey of Wall Street analysts reveals that EPS expectations for Company A for the full year 2014 are $1.50 per share. Company A has 200 million diluted shares outstanding. Company A’s major competitors are trading at an average share price / 2014 Expected EPS of 15.0x.
Using the comparable company analysis valuation method, Company A shares are:_______.
a. $2.50 per share overvalued
b. $2.50 per share undervalued
c. Need more information
d. Appropriately priced
Answer:
b. $2.50 per share undervalued
Explanation:
If the Company A major competitor has Share Price / EPS of 15X. Then, it means that the share price of company A should be = EPS * Competitor Share Price / EPS = $1.50 * 15 = $22.50
But, the share price of company A is $20.
So, we concluded Company A shares are Undervalued by $2,50 ($22.50 - $20).
PROJECT: FARM SAFETY RULES
You and Gerald are preparing to build a wagon in the shop on your family farm. Since you may be busy with other tasks, you feel that it is important to instruct Gerald on shop safety. When the two of you walk into the shop, Gerald asks about the different colors that appear to be marking different areas. You realize that he is speaking about the OSHA color-coding that you and your grandfather painted just last winter. How do you explain the colors to Gerald? Sketch out an imaginary shop, and include the colors to differentiate the areas. This sketch will be the basis for your explanation. Include a written "script" that connects the important concepts to the colors. Be sure to use correct rules of writing and grammar.
The correct answer to this open question is the following.
The way I would explain the colors to Gerald is by sketching out an imaginary shop, including the colors to differentiate the areas Gerald could understand the way colors are used.
According to OSHA, the Occupational Safety and Health Administration, every factory, business, shop, and office must identify different zones of risk through the use of colors.
Signs with color red menas fired-related hazards, hot water, hazardous objects or machines, fire alarms, the sign of an exit.
Signs with the color yellow is to indicate "precaution." To be aware of, watch your step, stumbling, or tripling. It is a color to indicate precaution and avoid injuries.
Signs in orange are to identify potential risks with an added explanation. It is not too great a risk such as in the case of the color red, but it needs to communicate that there is a risk with consequences. Example: low clearance levels or electrical hazards.
The green color indicates general messages or important messages to be aware of. No specific risk or danger. Just to inform people to be alert. This color suggests good practices in the workplace.
The blue color indicates informative messages unrelated to risk practices.
Messages such as "show your ID all the time," or sign in, before entering."
Brief summary of New York Yankees Revenue Plan
For Sports Management class.
Answer:
The Yankees were the lead investors in a group that included Amazon and Sinclair Broadcast Group that bought 80% of the YES Network from Walt Disney in August 2019. The enterprise value of the deal was $3.47 billion. Prior to the deal, the Yankees owned 20% of the regional sports network. Last summer, Disney agreed to sell off 21st Century Fox’s 22 regional sports networks to secure Justice Department approval of its acquisition of major 21st Century Fox assets. The Yankees launched YES, the most-watched regional sports network in the country, in 2002, and the original investors were the team, Goldman Sachs, Quadrangle Group, the owners of the New Jersey (now Brooklyn) Nets, and others. A minority stake in YES was sold to Fox in 2012, and Fox increased its stake to 80% in 2014. The valuation of the sale to Fox was over $4 billion (including $1.7 billion of debt), with the Yankees share valued at $4.2 billion and the remaining portion valued at $3.9 billion.
Explanation:
EZ Wheels Corporation manufactures kick scooters. The company offers a one-year warranty on all scooters. During 2017, the company recorded net sales of $5,300 million. Historically, about 3% of all sales are returned under warranty and the cost of repairing and or replacing goods under warranty is about 20% of retail value. Assume that at the start of the year EZ Wheels' balance sheet included an accrued warranty liability of $16.3 million and at the end of the year, the accrued warranty liability balance was $12.4 million. What was EZ Wheels Corporation's warranty expense for 2017
Answer:
EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.
Explanation:
EZ Wheels Corporation's warranty expense for 2017 can be calculated using the following formula:
Warranty expense for 2017 = Net sale for 2017 * Percentage sales returned under warranty * Percentage of retail value for cost of repairing and or replacing goods under warranty ................. (1)
Where:
Net sale for 2017 = $5,300 million
Percentage sales returned under warranty = 3%
Percentage of retail value for cost of repairing and or replacing goods under warranty = 20%
Substituting the values into equation (1), we have:
Warranty expense for 2017 = $5,300 million * 3% * 20% = $31.80 million
Therefore, EZ Wheels Corporation's warranty expense for 2017 is $31.80 million.
Answer:
$51.6 Million
Explanation:
Warranty expenses =5,300*3%*30% = 47.7 Million
Beginning Waranty Liability $16.3 Million
Add: Warranty expenses $47.7 Million
$64 Million
Less: Ending Warranty liability $12.4 Million
Amount paid on Warranty expenses $51.6 Million
As the video showed, there are many people who are so concerned about the viability of banks, and indeed the entire financial system, that they are buying gold and silver coins instead of trusting their money to banks. However, the government provides protection from having bank accounts wiped out as they were during the Great Depression. The _____________ is an independent agency of the U.S. government that insures bank deposits (up to $250,000).
The firm was organized and the initial stockholders invested cash of $780. The company borrowed $1,170 from a relative of one of the initial stockholders; a short-term note was signed. Two zero-turn lawn mowers costing $624 each and a professional trimmer costing $169 were purchased for cash. The original list price of each mower was $793, but a discount was received because the seller was having a sale. Gasoline, oil, and several packages of trash bags were purchased for cash of $117. Advertising flyers announcing the formation of the business and a newspaper ad were purchased. The cost of these items, $221, will be paid in 30 days. During the first two weeks of operations, 47 lawns were mowed. The total revenue for this work was $917; $605 was collected in cash, and the balance will be received within 30 days. Employees were paid $546 for their work during the first two weeks. Additional gasoline, oil, and trash bags costing $143 were purchased for cash. In the last two weeks of the first month, revenues totaled $1,196, of which $488 was collected. Employee wages for the last two weeks totaled $663; these will be paid during the first week of the next month. It was determined that at the end of the month the cost of the gasoline, oil, and trash bags still on hand was $39. Customers paid a total of $195 due from mowing services provided during the first two weeks. The revenue for these services was recognized in transaction f.
Answer:
Follows are the solution to this question:
Explanation:
Cardinal Moving Services Inc. in its Books
Payment Common Journal Dr. Cr.
1 Currency Cash. $780
Joint Vesicles $780
(To Common Stock Record Problem)
2 Currency Cash. $1,170
Paying notes $1,170
(Quantity borrowed from the relative to the record)
3 Material $1,417
Currency Cash. $1,417
(to record buying of 2 mover lawns $624 each and 1 trimmer career $169)
4 Supplies $117
Currency Cash. $117
(The buying of fuel, oil, and waste bags to Record)
5 Costs of ads $221
Cashable Account $221
(Advertising flyer for business training on behalf of To Record)
6 Currency Cash. $605
Receivable Account $312
Income Service $917
(For the very first two weeks of operation, to report service revenue)
7 Spending on wages $546
Currency Cash. $546
(For first two weeks, to report wage expenditure)
8 Supplies $143
Currency Cash. $143
(The acquisition of gasoline, oil, and garbage bags for documentation purpose)
9 Currency Cash. $488
Receivable Account $708
Income Service $1,196
(For the last 2 weeks of the first month, to report service revenue)
10 Wages Cost $663
Payable salaries $663
(For two weeks to report accrual wage expenses)
11 Budget for supplies $221
Supplies $221
(To record the cost of supplies)
12 Currency Cash. $195
Receivable Account $195
(The customer's payment to Record)
working Delivery Costs
Purchases for supplies [$117 + $143] $260
Less: Hand supplies ($39)
Expense of production $221
The following information was drawn from the Year 1 accounting records of Ozark Merchandisers:
Inventory that had cost $21,200 was sold for $39,900 under terms 2/20, net/30.
Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,520. The merchandise had cost Ozark $920.
All customers paid their accounts within the discount period.
Selling and administrative expenses amounted to $4,200.
Interest expense paid amounted to $360.
Land that had cost $8,000 was sold for $9,250 cash.
Required
a. Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
b. Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Amounts to be deducted and losses should be indicated with a minus sign.)
c. Where would the interest expense be shown on the statement of cash flows?
i. Operating activities
ii. Investing activities
iii. Financing activities
d. How would the sale of the land be shown on the statement of cash flows?
i. The full sales price of the land, $9,250, would be shown as a cash inflow from financing activities on the statement of cash flows.
ii. The full sales price of the land, $9,250, would be shown as a cash inflow from investing activities on the statement of cash flows.
iii. The full sales price of the land, $9,250, would be shown as a cash inflow from operating activities on the statement of cash flows
Answer:
Answer is explained in the explanation section below.
Explanation:
Part a: Determination of net sales:
Gross Sales = $39,900
Less: Sales Return = $1520
Less: Sales Discount = ($39,900 -$1520) x 2% = 767.6
Net Sales = $37,612.3
Part b: Income Statement:
Net Sales = $37,612.3
Cost of Goods Sold ($21,200 - $920) = $20,280
Gross Margin ($37,612.3 - $20,280) = $17,332.3
Operating Expenses:
Selling and administrative expenses = $4200
Operating Income ($17,332.3 - $4200) = $ 13,132.3
Non-Operating Items:
Interest Expense = $360
Gain on Sale of Land ( $9250 - $8000) = $1250
Net Income ($13,132.3 + $1250 - $360) = $14022.3
part c:
The interest expense reported in the operating activities of the statement of cash flows when paid.
part d)
ii. The sale of the land be shown on the statement of the cash flow as the full sales price of the land, $9250, would be shown as a cash inflow investing activities on the statement of the cash flows.
Provide an example of an organization that continuously maintains and improves customer satisfaction through a TQM approach. Include specific examples of how customer satisfaction is improved by company initiatives. In your responses to peers, compare and contrast the organization chosen by a peer with the one you chose. How might each organization benefit from the other's experiences with improving customer satisfaction
Answer:
Customers require value for money.
Explanation:
Total Quality Management TQM is an approach to make the product best for its customers and work towards customer satisfaction. Customers demands may be different, some customers require value for money while others just go for brand image. Some customers like online shopping while other prefer buying the product after watching its specs. The motive of a business is to satisfy the needs of all of its customers. Coca Cola beverages company has also focused on satisfying its customers. It responds to the various flavor requirements by its customers and has introduced more than 5 flavored drinks. The quality of any drink is not compromised and it aims to provide value for money to its customers.
Prompt What is liability?
Answer:
The state of being responsible for something, especially by law
Firms must compete for top talent. In attracting and selecting employees, firms must strive to select the best fit for both the employee and the firm. In an attempt to reduce wasted time and effort in interviewing too many candidates while assuring a good candidate pool, a firm should run employment ads in the newspaper. only let lower-level employees interview job candidates. use a pre-interview quiz. refrain from hiring by referrals from present employees.
Answer:
use a pre-interview quiz
Explanation:
In order to save the time and effort of both the candidates and the organization the company should conduct the quiz before eligible for the interview so that the company could get to know the knowledge and skills of the candidates whether they are fit for the organization or not
Therefore the above represent the answer
Cold Goose Metal Works Inc. just reported earnings after tax (also called net income) of $8,000,000 and a current stock price of $14.75 per share. The company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 1,500,000 new shares of stock (raising its shares outstanding from 5,500,000 to 7,000,000). If Cold Goose's forecasr turns out to be correct and its price-to-earnings (P/E) ratio does not change, what does the company's management expect its stock price to be one year from now?
Answer:
$14.49
Explanation:
Present P/E ratio = Current stock price/(Net income/Shares outstanding)
Present P/E ratio = 14.75/($8,000,000/5,500,000 shares)
Present P/E ratio = 10.1406
EPS after 1 year = 8000000*125%/ 7000000
EPS after 1 year = 1.4286
Stock price = EPS after 1 year * Present P/E ratio
Stock price= 1.4286* 10.1406
Stock price = $14.49