Why do you look like dababy?

Why Do You Look Like Dababy?

Answers

Answer 1
letsss gooo you know it’s baby
Answer 2

Answer:

nah i am dababy if you try to be me again i will turn you into a convertible

Explanation:


Related Questions

Northwest Building Products (NBP) manufactures two lumber products from a joint milling process: residential building lumber (RBL) and commercial building lumber (CBL). A standard production run incurs joint costs of $450,000 and results in 80,000 units of RBL and 120,000 units of CBL. Each RBL sells for $10 per unit and each CBL sells for $12 per unit

Required:
a. Assuming that no further processing occurs after the split-off point, how much of the joint costs are allocated to commercial lumber (CB) on a physical measure method basis?
b. If no further processing occurs after the split-off point, how much of the joint cost is allocated to the residential lumber (RBL) on a sales value basis?
c. Assume that the CB is not marketable at split-off but must be planed and sized at a cost of $300,000 per production run. During this process, 10,000 units are unavoidably lost and have no value. The remaining units of CB are salable at S14 per unit. The RBC, although salable immediately at the split off point, is coated with a tarlike preservative that costs $200,000 per production run. The RBC is then sold for $12 each. Using the net realizable value basis, how much of the completed cost should be assigned to each unit of CB?

d. Based on information in part 3 above, should NBP choose to process RBC beyond split-off ?

Answers

Answer:

Northwest Building Products (NBP)

The completed cost that should be assigned to each unit of CB is $5.18.

Explanation:

a) Data and Calculations:

Joint cost = $450,000

Residential building lumber (RBL) produced = 80,000 units

Commercial building lumber (CBL) produced = 120,000 units

Total units produced = 200,000

RBL selling price per unit = $10; Total revenue = $800,000

CBL selling price per unit = $12; Total revenue = $1,440,000

Total revenue for RBL and CBL = $2,240,000

a. Joint costs allocation on physical measure method:

RBL = $450,000 * 80,000/200,000 = $180,000

CBL = $450,000 * 120,000/200,000 = $270,000

b. Joint costs allocation on sales value basis:

RBL = $450,000 * $800,000/$2,240,000 = $160,714

CBL = $450,000 * $1,440,000/$2,240,000 = $289,286

c. Net Realizable value after further processing:

RBL: Completed cost = $380,000 ($180,000 + $200,000)/

Total revenue =             $960,000 ($12 * 80,000)

Total cost of production  380,000

Net realizable value =   $580,000

CBL: Completed cost = $570,000 ($270,000 + $300,000)

Total revenue =                $1,540,000 (110,000 * $14)

Total cost of production =    570,000

Net realizable value =        $970,000

Cost per CBL = $5.18 ($570,000/110,000)

22)
If the economy heads into a recession due to a global pandemic, which types of businesses would be less affected by a
decrease in consumer spending due to larger capital investments?
hlight
ime
maining
06:17
le Tools
A)
partnership
B)
corporation
sole trader
D)
sole proprietorship
E)
limited liability partnership

Answers

Answer:

A and B

Explanation:

Answer:

its A and B and D

Explanation:

i just took the quiz

watch the video " the best stats youve ever seen " then answer the questions.​

Answers

Answer:

thats a long video I'll pass

kofi electronics bought a shipment of Tvs at a net price of $477.36 each, after discounts of 15%,10% and 4%. what is the list price?​

Answers

Answer:

$650

Explanation:

Let x be the list price of the Tvs

85% of x = 0.85x

90% of 0.85x = (0.9)(0.85)x

96% of (0.9)(0.85)x = (0.96)(0.9)(0.85)x

The net price is given by $477.36

Therefore, $477.36 = (0.96)(0.9)(0.85)x

Hence x = $477.36 / (0.96)(0.9)(0.85)

x = $477.36 / 0.7344

x = $650

So, the list price is the list price

Assume that a Parent company owns 100% of its Subsidiary. On January 1, 2016 the Parent company had a $1,000,000 (face) bond payable outstanding with a carrying value of $1,070,000. The bond was originally issued to an unaffiliated company. On that same date, the Subsidiary acquired the bond for $996,000. During 2016, the Parent company reported $630,000 of (pre-consolidation) income from its own operations (i.e. prior to any equity method adjustments by the Parent company) and after recording interest expense. The Subsidiary reported $420,000 of (pre-consolidation) income from its own operations after recording interest income. Related to the bond during 2016, the parent reported interest expense of $110,000 while the subsidiary reported interest income of $95,000.
Determine the following amounts that will appear in the 2016 consolidated income statements.
a. Interest income from bond investment
b. Interest expense on bond payable
c. Gain (loss) on constructive retirement of bond payable
d. Consolidated net income

Answers

Answer:

a. Interest income from bond investment

intercompany transaction gains or losses are eliminated when preparing consolidated financial statements

b. Interest expense on bond payable

intercompany transaction gains or losses are eliminated when preparing consolidated financial statements

c. Gain (loss) on constructive retirement of bond payable

gain on retirement of bond = $1,070,000 - $996,000 = $74,000

d. Consolidated net income

consolidated net income = income from parent company + income from subsidiary + net gain from retirement of bond = $630,000 + $420,000 + $74,000 = $1,124,000

If your body does not have enough nutrients, it will begin to
a. shut down
b. make its own
C. find others
d.
use energy
Please select the best answer from the choices provided
А
B
Ο Ο Ο Ο
C

Answers

Your body will begin to use energy D

Answer:

Its A i just did the test its not D

Explanation:

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,980 hours and the total estimated manufacturing overhead was $540,708. At the end of the year, actual direct labor-hours for the year were 21,950 hours and the actual manufacturing overhead for the year was $540,708. Overhead at the end of the year was:

Answers

Answer:

under-applied with $738

Explanation:

If Actual Overheads > Applied Overheads, we have under-applied overheads.

and

If Applied Overheads > Actual Overheads, we have over-applied overheads.

From the question amounts for overheads are as follows :

Actual Overheads = $540,708 (given)

Applied Overheads = $540,708 / 21,980 hours x 21,950 hours = $539,970

Therefore,

Since Actual Overheads > Applied Overheads

Under-applied Overheads = $540,708 - $539,970 = $738

Conclusion :

Overhead at the end of the year was: under-applied with $738

What is a learning outcome for sales

Answers

Answer: A Learning Outcome (LO) is a measurable, observable, and specific statement that clearly indicates what a student should know and be able to do as a result of learning. Well-written learning outcomes involve the following parts: Action verb. Subject content.

Explanation: Children have a strong sense of identity.

Children are connected with and contribute to their world.

Children have a strong sense of wellbeing.

Children are confident and involved learners.

Children are effective communicators.

Mrs Blake is paid a weekly wage of $248. During a certain week she worked 5 hours
overtime. Her total wages were $285.50.
Calculate
her overtime wages
(2 marks)
(11)
the overtime rate of pay.
2 marks)p​

Answers

285.50 -

248.00

037.50

A) 37.50 Dollars

B) $7.50 per hour overtime

37.50÷5

5_/37.50

07.50

Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows:

Activity Activity
Rate Fabrication $30 per machine hour
Assembly $35 per direct labor hour
Setup $90 per setup
Inspecting $20 per inspection
Production scheduling $19 per production order
Purchasing $5 per purchase order

The activity-base usage quantities and units produced for each product were as follows:

Activity Base Elliptical Machines Treadmill
Machine hours 600 400
Direct labor hours 190 223
Setups 30 30
Inspections 15 25
Production orders 40 30
Purchase orders 318 85
Units produced 500 320

Required:
Use the activity rate and usage information to determine the total activity cost and activity cost per unit for each product.

Answers

Answer:

Results are below.

Explanation:

First, we need to allocate costs using the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Elliptical Machines:

Rate Fabrication= 30*600= 18,000

Assembly= 35*190= 6,650

Setup= 90*30= 2,700

Inspecting= 20*15= 300

Production scheduling= 19*40= 760

Purchasing= 5*318= 1,590

Total allocated costs= $30,000

Treadmill:

Rate Fabrication= 30*400= 12,000

Assembly= 35*223 7,805

Setup= 90*30= 2,700

Inspecting= 20*25= 500

Production scheduling= 19*30= 570

Purchasing= 5*85= 425

Total allocated costs= $24,000

Finally, the unitary costs:

Elliptical Machines= 30,000 / 500= $60

Treadmill= 24,000 / 320= $75

Pharoah Leasing Company agrees to lease equipment to Novak Corporation on January 1, 2020. The following information relates to the lease agreement.
1. The term of the lease is 7 years with no renewal option, and the machinery has an estimated economic life of 9 years.
2. The cost of the machinery is $502,000, and the fair value of the asset on January 1, 2020, is $739,000.
3. At the end of the lease term, the asset reverts to the lessor and has a guaranteed residual value of $45,000. Novak estimates that the expected residual value at the end of the lease term will be 45,000. Novak amortizes all of its leased equipment on a straight-line basis.
4. The lease agreement requires equal annual rental payments, beginning on January 1, 2020.
5. The collectibility of the lease payments is probable.
6. Pharoah desires a 10% rate of return on its investments. Novak's incremental borrowing rate is 11%, and the lessor's implicitrate is unknown.
1. Discuss the nature of this lease for both the lessee and the lessor.
2. Calculate the amount of the annual rental payment required.
3. Compute the value of the lease liability to the lessee.
4. Prepare the journal entries Novak would make in 2020 and 2021 related to the lease arrangement.
5. Prepare the journal entries Pharoah would make in 2020 and 2021 related to the lease arrangement.
Suppose Novak expects the residual value at the end of this lease term to be $40,000 but still guarantees a residual of $50,000. Compute the value of the lease liability at lease commencement.

Answers

Answer:

1. Novak Corporation is the lessee and this is a Capital Lease for it. Lease for Pharoah Leasing Company is the lessor and this is an Operating Lease for it.

2. Annual rental payment required = $133,683

3. Lease Liability to the lessee = $720,909

4. See the attached excel file.

5. See the attached excel file.

Explanation:

1. Discuss the nature of this lease for both the lessee and the lessor.

Novak Corporation is the lessee and this is a Capital Lease for it. The reason this is a capital lease to Novak Corporation is that the lease of the equipment will be treated as an asset in the books of accounts of Novak Corporation.

Lease for Pharoah Leasing Company is the lessor and this is an Operating Lease for it. The reason this is an operating lease to  Pharoah Leasing Company is that the ownership of the asset is not transferred by  Pharoah Leasing Company to Novak Corporation and the useful life of the asset will remains after the lease term expires.

2. Calculate the amount of the annual rental payment required.

Note: See L in the attached excel file for the calculation of the amount of the annual rental payment required.

From the attached excel file, we have:

Annual rental payment required = $133,683

3. Compute the value of the lease liability to the lessee.

Note: See O in the attached excel file for the computation of the value of the lease liability to the lessee.

From the attached excel file, we have:

Lease Liability to the lessee = $720,909

4. Prepare the journal entries Novak would make in 2020 and 2021 related to the lease arrangement.

Note: See the attached excel file for the journal entries Novak would make in 2020 and 2021 related to the lease arrangement.

5. Prepare the journal entries Pharoah would make in 2020 and 2021 related to the lease arrangement.

Note: See the attached excel file for the journal entries Pharoah would make in 2020 and 2021 related to the lease arrangement.

On September 1, 2018, ABC signed a $100,000, 9%, six-month note payable with the amount borrowed plus accrued interest due six months later on March 1, 2019. ABC records the appropriate adjusting entry for the note on December 31, 2018. In recording the payment of the note plus accrued interest at maturity on March 1, 2019, ABC would

Answers

Answer: b. Debit Interest Expense, $1,500.

Explanation:

On the date of maturity in 2019, the journal entry will look something like this:

Date                 Account title                                          Debit                Credit

March 2019     Note Payable                                   $100,000

                        Interest Payable                               $3,000

                         Interest expense                             $1,500

                        Cash                                                                              $104,500

The interest payable is the portion of interest that accrued in the 4 months in 2018 which was in the previous period so would have to be recorded as a liability instead of an expense.

The interest expense is for the interest accrued in 2019 which would be for 2 months and is:

= 100,000 * 9% * 2/12

= $1,500

In connection with the office use in the home deduction, comment on the following:
a. The exclusive use requirement.
b. The distinction between direct and indirect expenses.
c. The effect on deduction of taxpayer's work status i.e. employed or self employed.
d. The ownership status of residence i.e. owned or rented.
e. The tax treatment of office furnishings i.e. desk, chairs, and file cabinets.
f. The treatment of expenses that exceed the gross income from the business.

Answers

Answer:

a. The exclusive use requirement means that office space is used solely for business purpose.

b. Indirect expense are related to  business operating costs and distinction must be made wile deductions between business and personal use. Direct expense is solely related to the business and is deducted in full.

c. Employee deductions are allowed and they are deducted from Adjusted Gross Income.

d. The ownership status of resident is criteria for deductions. Resident status is allowed for deducting depreciation.

e. Office furnishing are deductible expense.

f. Any excesses are carried to the next yearly period.

Explanation:

The deductions are required to be distinct between personal and professional use. It is responsibility of the business owner to calculate deductible expenses and then prepare tax status. The income from business are recorded at  full and is subject to tax.

Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable.

Payment Cash Payment Effective Interest Decrease in balance Outstanding Balance
87,867
1 13,000 13,000 74,867
2 13,000 7,487 5,513 69,354
3 13,000 6,935 6,065 63,289
4 13,000 6,329 6,671 56,618
5 13,000 5,662 7,338 49,280
6 13,000 4,928 8,072 41,208
7 13,000 4,121 8,879 32,329
8 13,000 3,233 9,767 22,562
9 13,000 ? ? ?
10 13,000 ? ? ?

Required:
a. What is the effective annual interest rate?
b. What would the lessee record as annual amortization on the right-of-use asset using the straight-line method?
c. What is the outstanding balance after payment 9?

Answers

Answer:

Lease Amortization Schedule

a. The effective annual interest rate is:

= 10%.

b. The amount that the lessee would record as annual amortization on the right-of-use asset using the straight-line method is:

= $8,786.70

c. The outstanding balance after payment 9 is:

= $11,818.

Explanation:

a) Data and Calculations:

Payment   Cash Payment    Effective      Decrease      Outstanding

                                             Interest        in balance        Balance

                                                                                             87,867

1                    13,000                                     13,000             74,867

2                   13,000                7,487              5,513            69,354

3                   13,000               6,935             6,065            63,289

4                   13,000               6,329              6,671             56,618

5                   13,000               5,662             7,338             49,280

6                   13,000               4,928             8,072              41,208

7                   13,000                 4,121             8,879             32,329

8                   13,000               3,233             9,767             22,562

9                   13,000               2,256           10,744                11,818

10                 13,000                  1,182            11,818                 0

b) The effective annual interest rate = (1+i/n)^n - 1

where i = stated interest rate

and n = number of compounding periods (10 years)

= Effective interest/Outstanding balance

For example for year 10, the rate = $1,182/$11,818 * 100 = 10%

Using the straight-line method, annual amortization on the right-of-use asset = $87,867/10 = $8,786.70

The outstanding balance after payment 9 = $11,818 which is paid in year 10 with an interest of $1,182.

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to spend $200 on the 10 scarves. When he arrives at Macy’s at 5:00 A.M. on Black Friday, he discovers that scarves are on sale for $12 each. Hugo buys 10 scarves and uses the remaining $80 to buy himself a some clothes. How much consumer surplus did Hugo receive from the tenth scarf he purchased? A. Consumer surplus from the tenth scarf:____.
B. Assuming Hugo follows the Rational Rule for Buyers, why did Hugo only purchase 10 scarves when they were on sale? Shouldn't he have purchased more since they were such a good deal compared to what he was willing to pay?
At a price of $12, Huge determined that:_____.
a. buying an eleventh scarf gave him less than $8 in consumer surplus.
b. buying an eleventh scarf gave him less than $12 in benefit.
c. buying an eleventh scarf gave him more than $12 in benefit.
d. the price exceeded his marginal cost.

Answers

Answer:

$8

b

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Consumer surplus = willingness to pay – price of the good

Consumer surplus = willingness to pay per scarf - price per scarf

willingness to pay per scarf = $200 / 10 = $20

price per scarf = 12

$20 - $12 = $8

A rational consumer would stop purchasing at the point where marginal benefit is less than marginal cost .

Because he has 10 friends he wants to give the gift to, buying an extra scarf would yield no benefit to him

Wriston Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $15,000. Budgeted cash disbursements are $72,500, while budgeted cash receipts are $89,600. Wriston Company wants to have an ending cash balance of $30,000. The excess (deficiency) of cash available over disbursements for the month would be

Answers

Answer:

$2,100

Explanation:

Cash Available = Opening Balance + Receipts - Disbursements - Desired Balance

                          = $15,000 +$89,600  - $72,500 - $30,000

                          = $2,100

Therefore,

The excess  of cash available over disbursements for the month would be  $2,100

The balance cash available after disbursement will be $2,100.

What is cash balance?

Cash balance refers to the amount of cash that is available after paying off for the expenses. The cash balance is calculated using the following formula:

[tex]\rm Cash\:balance = Beginning\:balance + Receipts - Disbursements - Desired \:Balance\\\\\rm Cash\:balance = \$15,000 + \$89,600 - \$72,500 - \$30,000\\\\\rm Cash\:balance = \$2,100[/tex]

Therefore the cash balance after disbursement is $2,100.

Learn more about cash balance here:

https://brainly.com/question/27062172

What is the primary purpose of a rating service company such as A.M Best?

Answers

Answer:

the primary purpose of a rating service company, such as AM Best is To determine financial strength of an insurance company. Protect consumers with guidelines regarding credit reporting and distribution..

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Jayden, the vice president of Boxco, is reviewing the development program for the company's middle managers. He notes that management development includes psychological profiles and mentors, as well as lateral moves to positions that give managers a broader view of the company. Jacob would like to add a component of formal education. Which option could be included in this new component? Question 124 options: on-the-job training in the basics of managers' current jobs workshops involving business games and simulations 360-degree feedback opportunities to sign up for sessions with a life coach a program of externships at local charities

Answers

Answer:

Opportunities to sign up for sessions with a life coach.

Explanation:

Since he wants to include psychological profiles as well as mentors in the program to raise efficiency. Jacob should use A life coach. A life coach can empower and help in setting and meeting goals. Increasing accountability accept for the personal growth of employee and also for career success.

In the middle level, accountability is important, a life coach would help you develop abilities in managerial duties, improve relationships, business goals.

Deb has found it very difficult to repay her... Deb has found it very difficult to repay her loans. Because of these difficulties, the bank decided to forgive one of her most recent loans, an amount of $91,000. After the loan was discharged, Deb had total assets of $247,000 and her remaining loans totaled $239,000. What amount must Deb include in her gross income

Answers

Answer: $8000

Explanation:

The following information can be gotten from the question:

Total assets = $247000

Remaining loans = $239000

The amount that Deb must include in her gross income will be the difference between the total assets and the remaining loans which will be:

= $247000 - $239000

= $8000

=

Gundy Corporation produces area rugs. The following per unit cost information is available: direct materials $15, direct labor $9, variable manufacturing overhead $6, fixed manufacturing overhead $8, variable selling and administrative expenses $4, and fixed selling and administrative expenses $6. Using a 40% markup on total per unit cost, compute the target selling price.

Answers

Answer:

$67.2

Explanation:

With regards to the above,

Total unit cost = $15 + $9 + $6 + $8 + $4 + $6 = $48

Target selling price = Total unit cost × (1 + mark up)

Since markup percentage is 40% or 0.40

Therefore,

Target selling price = $48 × (1 + 0.4)

= $48 × 1.4

= $67.2

Therefore the target selling price is $67.2

The carrying value of a long-term note payable is computed as: Group of answer choices The present value of all remaining interest payments, discounted using the current market rate of interest. The future value of all remaining payments, using the market rate of interest. The present value of all remaining payments, discounted using the market rate of interest at the time of issuance. The face value of the long-term note plus the total of all future interest payments. The face value of the long-term note less the total of all future interest payments.

Answers

Answer:

The present value of all remaining payments, discounted using the market rate of interest at the time of issuance.

Explanation:

The carrying value of the long term note payable should be shown on the liabilities side of the balance sheet so it would be determined by considering the present value of all the left amount and then apply the market rate of interest of issuance time

Therefore the above represent the answer

Identifying effects of transactions using the accounting equation LO PI
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions.
A. Owner invested $59,000 cash in the company along with equipment that had a $14,000 market value.
B. The company paid $2,000 cash for rent of office space for the month.
C. The company purchased $11,000 of additional equipment on credit (payment due within 30 days).
D. The company completed work for a client and immediately collected the $2,300 cash earned.
E. The company completed work for a client and sent a bill for $7,600 to be received within 30 days.
F. The company purchased additional equipment for $5,800 cash.
G. The company paid an assistant $3,400 cash as wages for the month.
H. The company collected $4,500 cash as a partial payment for the amount owed by the client in transaction e.
I. The company paid $11,000 cash to settle the liability created in transaction c.
J. Owner withdrew $1,200 cash from the company for personal use.
Required:
Enter the impact of each transaction on individual items of the accounting equation.

Answers

Answer:

A. Asset as cash will increase by $59,000, asset in equipment will increase $14,000

B. Asset side in increased and decreased

C. Asset and liability will increase by $11,000

D. Asset will increase

E. Asset will increase

F. Asset will increase and decrease by $5,800

G. Asset will decrease

H. Asset will increase

I. Liability will decrease

J. Asset and capital will decrease by $1,200

Explanation:

Accounting equation is Asset = Liabilities + Capital

Accounting equation is affected in business transaction. The transaction in business have different effects some transaction are like hybrid which impacts the multiple accounts balances. There are some transactions which just involve asset side transaction increase and decrease on the same account this will offset the balance and no effect on equation.

The tiny isolationist nations of Lorland and Zhangia are considering opening their borders to trade with each other. Both nations produce only two goods: smoothies and sandals. Currently, a worker in Lorland can produce 2 smoothies per day or 8 sandals per day, while a worker in Zhangia can produce 1 smoothie per day or 5 sandals per day. Using this information, please match each nation and good to the most accurate description.
Write each item to its matching item .
a. the nation that will specialize in producing smoothies once trading begins
b. the nation that will specialize in producing sandals once trading begins
c. the good that Lorland will import from Zhangia after trading begins
d. the good that Lorland will export to Zhangia after trading begins
Zhangia Sandals Smoothies Lorland

Answers

Answer:

Lorland

Zhangia

sandals

smoothies

Explanation:

A country should specialise goods for which it has a comparative advantage in its production.

A country should import goods for which it has no comparative advantage in its production.

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

Lorland

Opportunity cost in the production of one smoothie = 8/2 = 4

Opportunity cost in the production of one sandal = 2/8 = 0.25

Zhangia

Opportunity cost in the production of one smoothie = 5/1 = 5

Opportunity cost in the production of one sandal = 1/5 = 0.2

Zhangia has a comparative advantage inn the production of sandals and should specialise in the production of sandals while lorland has a comparative advantage in the production of smoothies specialise in the production of smoothies

Loriland should import sandals and export smoothies

Which of the following statements is true of browse-wrap agreements?

Answers

Answer:

Im sorry I dont see anything? Theres no pictures.

For each separate case below, follow the 3-step process for adjusting the accrued expense account: Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record an adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year.

a. Salaries Payable. At year-end, salaries expense of $18,000 has been incurred by the company, but is not yet paid to employees.
b. Interest Payable. At its December 31 year-end, the company owes $375 of interest on a line-of-credit loan. That interest will not be paid until sometime in January of the next year.
c. Interest Payable. At its December 31 year-end, the company holds a mortgage payable that has incurred $1,000 in annual interest that is neither recorded nor paid. The company intends to pay the interest on January 7 of the next year.

Answers

Answer:

a. Salaries expense (Dr.) $18,000

Salaries Payable (Cr.) $18,000

b. Interest Receivable (Dr.) $375

Interest Earned (Cr.) $375

c. Interest Expense (Dr.) $1,000

Interest Payable (Cr.) $1,000

Explanation:

The adjusting entries will be made once the expenses are paid. For now these expense are recorded as current liability because the payment needs to be made for the expenses that has already incurred. The salaries expense is recorded in contra account of salaries payable, once these salaries are paid then the expense will recorded as cash outflow.

Surendra’s personal residence originally cost $340,000 (ignore land). After living in the house for five years, he converts it to rental property. At the date of conversion, the fair market value of the house is $320,000. As to the rental property, calculate Surendra’s basis for:________.
a. Loss.
b. Depreciation.
c. Gain.
d. Could Surendra have obtained better tax results if he had sold his personal residence for $320,000 to hold as rental property?

Answers

Answer:

a. Loss

The basis for Loss is the lower of the basis after it is adjusted for its new purpose or the fair market value.

Adjusted = $340,000

Fair market value = $320,000

Loss basis will therefore be the lower value of $320,000

b. Depreciation:

This is the same as the loss basis because the residence was converted from personal use to business use.

= $320,000

c. Gain

= Adjusted basis of the property

= $340,000

d. No.

Because he would be converting to rental property which is a business use, the loss that he would have incurred of $20,000 would have been disallowed and he wouldn't be able to deduct it.

Loss = Cost - fair value = 340,000 - 320,000 = $20,000

Cost of Spoiled Units Lieu Company is a specialty print shop. Usually, printing jobs are priced at standard cost plus 50 percent. Job 631 involved printing 400 wedding invitations with the following standard costs: Direct materials $220 Direct labor 80 Overhead 80 Total $380 Normally, the invitations would be taken from the machine, the top one inspected for correct wording, spelling, and quality of print, and all of the invitations wrapped in plastic and stored on shelves designated for completed jobs. In this case, however, the technician decided to go to lunch before inspecting and wrapping the job. He stacked the unwrapped invitations beside the printing press and left. One hour later, he returned and found the invitations had fallen on the floor and been stepped on. It turned out that about 50 invitations were ruined and had to be discarded. An additional 50 invitations were then printed to complete the job. Required: 1. Calculate the cost of the spoiled invitations. If required, round your answer to the nearest cent. $fill in the blank 1 2. What is the price of Job 631

Answers

Answer: $47.50

Explanation:

Direct materials = $220

Direct labor = $80

Overhead = $80

Total = $380

Number of wedding invitation = 400

Cost per invitation = $380/400 = $0.95

Since the Number of spoiled invitation = 50, then the cost of the spoiled invitation will be;

= 50 × $0.95

= $47.50

The cost of the spoiled invitation is $47.50

The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010.

The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.

Real Income per Person in 1960 Real Income per Person in 2010 Annual Growth Rate
Economy (Dollars) (Dollars) (Percent)
Austria 9,773 35,031 2.59
Venezuela 7,307 9,762 0.58
Botswana 468 9,515 6.21
Malaysia 1,624 11,863 4.06
Honduras 1,932 3,146 0.98
Zambia 1,412 1,309 -0.15


Indicate which economy satisfies each of the following statements.

a. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010.
b. This economy had the highest level of real income per person in the year 2010.

1. Austria
2. Botswana
3. Honduras
4. Malaysia
5. Venezuela
6. Zambia

Consider the following list of four economies. Which economy began with a level of real income per person in 1960 that was well below that of Venezuela and grew fast enough to catch up with and surpass Venezuela's real income per person by 2010?

1. Austria
2. Botswana
3. Honduras
4. Malaysia

Answers

Answer:

1. The economy that satisfies each of the following statements:

a. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010:

2. Botswana

b. This economy had the highest level of real income per person in the year 2010:

1. Austria

b. The economy that began with a level of real income per person in 1960 that was well below that of Venezuela and grew fast enough to catch up with and surpass Venezuela's real income per person by 2010 is:

4. Malaysia

Explanation:

a) Data and Calculations:

                       Real Income per    Real Income per     Annual Growth

                        Person in 1960      Person in 2010            Rate

Economy            (Dollars)                   (Dollars)                (Percent)

Austria                  9,773                      35,031                    2.59

Venezuela           7,307                        9,762                    0.58

Botswana               468                         9,515                    6.21

Malaysia              1,624                        11,863                     4.06

Honduras            1,932                         3,146                     0.98

Zambia                 1,412                         1,309                    -0.15

b) Botswana has the fastest rate of growth of 6.21%, growing from $468 real income per person in 1960 to $9,515 real income person in 2010.

Malaysia's real income per person in 1960 was $1,624, which was below Venezuela's $7,307.  But in 2010, Malaysia's real income per person grew to $11,863 against Venezuela's $9,762.

Lloyd is the chief financial officer (CFO) for a firm that uses Incentive stock options (ISOs) as part of its executive compensation plan. He receives $150,000 annually, paid semimonthly, in base salary plus 25 shares of the firm's stock per month. The stock is omitted from gross pay calculations and is valued at $52.50 per share and he may exercise his option within five years at $0.10 per share. What is Lloyd's gross pay for mid-October

Answers

Answer:

the gross pay of Lloyd is $6,250

Explanation:

The computation of the gross pay is shown below:

= Amount received annually ÷ number of months

= $150,000 ÷ 24

= $6,250

Hence, the gross pay of Lloyd is $6,250

we simply applied the above formula so that the correct value could come

The other things would be irrelavant

Natick Industries leased high-tech instruments from Framingham Leasing on January 1, 2021. Natick has the option to renew the lease at the end of two years for an additional three years. Natick is subject to a $45,000 penalty after two years if it fails to renew the lease. Framingham Leasing purchased the equipment from Waltham Machines at a cost of $250,177.
Related Information:
Lease term 2 years (8 quarterly periods)
Lease renewal option for an additional 3 years (12 quarterly periods)
Quarterly lease payments $11,000 at Jan. 1, 2021, and at Mar.
31, June 30, Sept. 30, and Dec. 31
thereafter
Economic life of asset 5 years
Interest rate charged by the lessor. 4%
Required:
Prepare appropriate entries for Natick Industries from the beginning of the lease through March 31, 2021. Appropriate adjusting entries are made quarterly.

Answers

Answer:

1-Jan-21

Dr Right- of-use asset $250,177

Cr Lease payable $250,177

1-Jan-21

Dr Lease payable $11,000

Cr Cash $11,000

31-Mar-21

Dr Interest expense $2,392

Dr Lease payable $8,608

Cr Cash $11,000

31-Mar-21

Dr Amortization expense $12,509

Cr Right-of-use asset $12,509

Explanation:

Preparation of the appropriate entries for Natick Industries from the beginning of the lease through March 31, 2021.

Journa Entry- Lease-Natick Industries

1-Jan-21

Dr Right- of-use asset

($11,000 * PVAF at 1%for 0-20)

($11000*22.74336) $250,177

Cr Lease payable $250,177

(To Record Lease at Inception)

1-Jan-21

Dr Lease payable $11,000

Cr Cash $11,000

(To Record First Lease Payment made)

31-Mar-21

Dr Interest expense

[($250,177 - 11000 )*1%] $2,392

Dr Lease payable $8,608

($11,000-$2,392)

Cr Cash $11,000

(To Record Second Lease Payment made)

31-Mar-21

Dr Amortization expense

($250,177/ 20) $12,509

Cr Right-of-use asset $12,509

(To Record Amortisation Expense)

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