Answer:
Big Centex Corporation
When the transaction is recorded, credits are made to:
Common Stock, $20,000 and Paid-In Capital in Excess of Par Value, $14,000
Explanation:
a) Data and Calculations:
Issue of shares = 2,000
Par value of common stock = $10
Issue price = $17 (shares are issued at a premium of $7 per share.)
Common stock value = $20,000 (2,000 * $10)
Paid-in Capital in Excess of Par Value = $14,000 (2,000 * $7)
b) The shares of Big Centex Corporation have been issued at a premium, that is at a value or price which is above the par value of $10. The premium is $7. Therefore, the Common Stock will be credited with $20,000 representing the par value of the issued stock while the Paid-In Capital in Excess of Par Value will be credited with the excess or premium. These separate credits separate the premium per share from the par value of the issued shares.
Which of the following is not one of the eight recognized consumer rights? a. right to the satisfaction of basic needs b. right to simplicity c. right to a healthy environment d. right to be informed
Answer:
B.) right to simplicity
Explanation:
:)
The right to simplicity is basically one which is not recognized as one of the eight consumer rights. Thus option (b) is correct.
What are the consumer rights?Consumer rights are a set of rights and protections that are afforded to consumers when they engage in economic transactions with businesses or service providers.
These rights are designed to ensure that consumers are treated fairly and have access to the information and resources they need to make informed decisions.
These rights are often enshrined in consumer protection laws and regulations, and are enforced by government agencies and consumer advocacy organizations. By using these individuals can protect themselves from fraud, deception, and unfair business practices.
The right to simplicity is not included in the eight recognized consumer rights. Therefore, option (b) is correct.
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Flagler Corporation shows a total of $1,190,000 in its Common Stock account and $1,050,000 in its Paid-in Capital Excess account. The par value of Flagler's common stock is $7. How many shares of Flagler stock have been issued?a. 170,000.b. 150,000.c. 320,000.d. It cannot be determined
Answer: a. 170,000
Explanation:
To find the number of shares issued;
= Common stock / Par value
= 1,190,000/7
= 170,000 shares
the link between home currency value of a firm's assets and liabilities and exchange rate fluctuations is
Answer:
Asset exposure
Explanation:
Asset exposure shows the difference that lies between the exposed assets and the exposed liabilities. Here the long in currency is when the exposed assets are more than its liabilities and on the other hand the short in currency is when the exposed assets are less than its liabilities
In addition to this, the linking that need to be done between the firm asset and liabilities of home currency and the fluctuation in exchange rate would be also known as asset exposure
Abbott Landscaping purchased a tractor at a cost of $29,000 and sold it three years later for $15,700. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $4,000 residual value. Tractors are included in the Equipment account.
Required:
Record the sale of equipment.
Answer:
Cash 15700 Dr
Accumulated depreciation 15000 Dr
Equipment - Tractor 29000 Cr
Gain on sale - Equipment 1700 Cr
Explanation:
The straight line method of depreciation charges a constant depreciation expense per year throughout the useful life of the asset. The formula for depreciation expense under this method is,
Depreciation expense = (Cost - Residual value) / Estimated useful life of the asset
Depreciation expense per year = (29000 - 4000) / 5 = $5000 per year
As the asset was sold after three years, the accumulated depreciation on the asset would be = 5000 * 3 = $15000
The NBV or carrying value of the asset will be = 29000 - 15000 = 14000
The gain on sale of equipment will be = 15700 - 14000 = $1700
Solve for the unknown interest rate in each of the following (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.):
Present Value Years Interest Rate Future Value
$190 4 % $231
310 18 854
34,000 19 148,042
33,261 25 412,862
Answer:A) 5.01% B)5.79% C.8.05% D)10.60%
Explanation:
Using the formula
FV = PV (1 + r)ⁿ
where
PV=present value
r=interest rate
n =number of periods/ years
FV = future value.
Making r= interest rate the subject formula to solve .
FV = PV (1 + r)ⁿ
(FV/PV)^ 1/n - 1 = r
A)( 231/190)^(1/4) -1
( 231/190)^ 0.25 -1
1.21578947^0.25 -1
1.05006116 -1
0.05006116 X 100
5.01%
B)( 854/310)^ (1/18) -1
( 854/310)^ 0.0555 -1
2.75483871^0.0555 -1
1.05785304 -1
0.05785304 X 100
5.79%
C)( 148,042/34,000)^ (1/19) -1
( 148,042/34,000)^ 0.0526 -1
4.35417647^0.0526 -1
1.08045444-1
0.08045444 X 100
8.05%
D)( 412,862/33,261)^ (1/25) -1
( 412,862/33,261)^ 0.04 -1
12.4127958^0.04 -1
1.10599913 -1
0.10599913X 100
10.60%
The physical distribution concept seeks to minimize the cost of distribution for a given customer service level.
a) True
b) False
Answer:
A)True
Explanation:
Physical distribution concept can be regarded as larger distribution process that involves wholesale as well as retail marketing and the physical movement ( transportation as well as storage.) of goods/service. It should be noted that the The physical distribution concept seeks to minimize the cost of distribution for a given customer service level.
An accounting system that accumulates and reports costs incurred by each service department for management to evaluate the performance of a department is a:
Answer:
Departmental accounting system
Explanation:
Departmental accounting system is the system that record all the activities and financial information related to department. The company managers use this financial information from departmental accounting system to check the overall profitability of the department.
The budgeted finished goods inventory and cost of goods sold for a manufacturing company for the year 2012 are as follows: January 1 finished goods, $765,000; December 31 finished goods, $640,000; cost of goods sold for the year, $2,560,000. The budgeted costs of goods manufactured for the year is?a. $2,560,000b. $3,965,000c. $2,435,000d. $1,405,000
Answer:
d. $2,435,000
Explanation:
To calculate the cost of goods manufactured, we need to use the formula below;
Cost of goods sold = Beginning finished inventory + Cost of goods manufactured - Ending finished goods
$2,560,000 = $765,000 + Cost of goods manufactured - $640,000
Cost of goods manufactured = $2,560,000 - $765,000 + $640,000
Cost of goods manufactured = $2,435,000
Concord uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300 units that cost $9.00 each. During the month, the company made two purchases: 3100 units at $10.00 each and 12200 units at $10.50 each. Concord also sold 12800 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month
Answer:
The amount of cost of goods sold for the month is $127,321.60.
Explanation:
The Weighted Average Cost Method uses a Unit Cost calculated on the Average to value the Cost of Goods Sold and Ending Inventory.
Since the Periodic Inventory System is being used, the Unit Cost will be calculated on Goods Available for Sale.
Average Unit Cost = Total Cost of Goods Available for Sale ÷ Units Available for Sale.
Total Cost of Goods Available for Sale = 7,300 × $9.00 + 3,100 × $10.00 + 12,200 × $10.50 = $224,800
Units Available for Sale = 7,300 + 3,100 + 12,200 = 22,600
Therefore,
Average Unit Cost = $224,800 ÷ 22,600 = $9.947
Cost of Goods Sold = Units Sold × Units Available for Sale
= 12,800 × $9.947
= $127,321.60
Auagaa474 Corporation had sales of $491,300 and average operating assets of $289,000 for the past period. What is the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%?
Answer:
16%
Explanation:
Calculation for the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%
First step is to calculate the Turnover using this formula
Turnover = Sales ÷ Average operating assets
Let plug in the formula
Turnover= $491,300 ÷$289,000
Turnover=1.7
Now let calculate the margin using this formula
ROI = Margin × Turnover
Let plug in the formula
27.2% = Margin × 1.7
Margin = 27.2% ÷ 1.70
Margin=0.16*100
Margin= 16%
Therefore the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2% will be 16%
If Robert chooses not to itemize, what is the amount that he can deduct as an above-the-line charitable contribution adjustment in 2020
Answer:
The answer is "$250"
Explanation:
In 2020 they can deduct up to 100% of the gross income from the charitable contribution for a qualifying charitable organization, up to a maximum of $ 300, while our money contribution was just $ 250, so you only allow $ 250 to the non-particular deduction - over the charitable donation line throughout 2020.
Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $2,000,000 (200,000 hours at $10/hour) and that factory overhead would be $1,500,000 for the current period. At the end of the period, the records show that there had been 180,000 hours of direct labor and $1,200,000 of actual overhead costs. Using direct labor hours as a base, what was the pre-determined overhead rate?a. $6.00 per direct labor hour.b. $750 per direct labor.c. $6.67 per direct labor hour.d. $8.33 per direct labor hour.e. $708 per direct labor.
Answer:
b. $750 per direct labor
Explanation:
Calculation for the what was the predetermined overhead rate
Using this formula
Predetermined overhead rate=Factory overhead / Direct labor hours
Let plug in the formula
Predetermined overhead rate=$1,500,000/$200,000 hours
Predetermined overhead rate= 7.5*100
Predetermined overhead rate=$750 per direct labor
Therefore the predetermined overhead rate will be $750 per direct labor
If the average cost of producing sweaters is lower in the larger factory when Argyle produces 6,500 sweaters per week, why isn't it also lower when Argyle produces 4,000 sweaters per week
Answer:
The reason for this difference is due to the fixed costs of Argyle.
Explanation:
Within the relevant range of production, the fixed costs of Argyle remain fixed in total but vary per unit. This implies that when Argyle produces 6,500 sweaters per week, its unit cost per sweater will be lower than when it produces 4,000 sweaters for the same period. The 6,500 sweaters share in the total costs and each unit will get a lower share than when the same costs are shared among 4,000 sweaters.
The reason why the average cost of producing sweaters is not lower when Argyle produces 4,000 sweaters per week is due to Economies of scale.
When a company produces goods in larger quantity the average cost of producing will be lower reason being that both fixed cost and variable cost are often extended over a large amount of goods produced.
While on the other hand goods produce in small quantity will have a higher average cost.
Therefore the higher the goods produce the lesser the average cost and the lesser the goods produce the higher the average cost of production.
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During the year, cash increased by $360 million. Investing and financing activities created positive cash flow totaling $600 million. What were net cash flows from operating activities in the statement of cash flows
Answer:
-$240 million
Explanation:
The computation of the net cash flows from operating activities is as follows:
As we know that
Net cash flows from operating activities + net cash flows from financing and investing activities = Net Increase in cash for the year
Net cash flows from operating activities + $600 million = $360 million
So, the net cash flows from operating activities is
= -$240 million
Brooke-lyn makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 30% Paid in the first month following purchase: 65% Paid in the second month following purchase: 5% If purchases for April, May, and June were $200,000, $160,000, and $250,000, respectively, what was the firm's budgeted payables balance on June 30?A. $175,000B. $179,000C. $183,000D. $189,000
Answer:
Total budget payable= $189,000
Explanation:
Giving the following information:
Paid in the month of purchase: 30%
Paid in the first month following purchase: 65%
Paid in the second month following purchase: 5%
Purchases:
April= $200,000
May= $160,000
June= $250,000
Payable balance June:
Purchase from April= (200,000*0.05)= 10,000
Purchase from May= (160,000*0.65)= 104,000
Purchase from June= (250,000*0.3)= 75,000
Total budget payable= $189,000
On January 1, Coronado Corporation had 960000 shares of $10 par value common stock outstanding. On March 31, the company declared a 25% stock dividend. Market value of the stock was $20/share. As a result of this event:_______
a. Key‘s Paid-in Capital in Excess of Par account increased $2,000,000
b. Key’s total stockholders‘ equity was unaffected.
c. Key‘s Stock Dividends account increased $6,000,000.
d. All of these answer choices are correct.
Answer:
d. All of these answer choices are correct.
Explanation:
Based on the information given as a result of this event their Paid-in Capital in Excess of Par account will increased with amount of $2,000,000 while their total stockholders‘ equity will be unaffected and lastly the Stock Dividends account will increased
by the amount of $6,000,000 which is calculated as :
Stock Dividends account=2,000,000 *.20*(25%*20+$10)
Stock Dividends account=2,000,000 *.20*$15
Stock Dividends account=$6,000,000
What type of special title insurance policy covers the possibility of a mechanic's lien have priority over a mortgage or deed of trust
Answer:
Depending on the state this type of coverage is called slightly different names. E.g. in Colorado, this type of coverage in included under Comprehensive Coverage. In other states it is simply called Mechanic's Lien Coverage. Most title insurance companies that are registered in ALTA (American Land Title Association) offer some type of mechanic's lien coverage since it is one of the most common sources of litigation regarding real estate.
Mechanic's liens have priority over other types of liens and they are retroactive to the moment when the construction process began. E.g. the contractor started working on January 2, 2020, and decides to file a claim due to unpaid services on November. So the mechanic's lien is retroactive to January 2, 2020. If a mortgage was recorded on June, the mechanic's lien will have priority even though it was recorded at a later date.
Suppose the inflation rate is 2% per year. If you currently think of $40,000 as an acceptable retirement income and are expecting to retire in 40 years, what will the equivalent annual income then be, adjusted for inflation rate of 2% per year
Evidence indicates that the best promotional strategy for firms operating globally
Answer:
B) to uniquely design a strategy for each country.
Multiple- choices
a "one mix fits all" strategy.
B) to uniquely design a strategy for each country.
C) based on total operating costs and the nation's disposable income.
D) designed by foreign intermediaries who control promotion.
Explanation:
Customers purchasing decisions and patterns are influenced by their culture, customs, beliefs, and traditions. Marketers need to have an understanding of their target customers before deciding what products to offer them and at what season.
Each country has its unique beliefs and practices. Multinationals need to understand and appreciate the people's ways of life to successfully operate in that country. They need to design marketing strategies that will appeal to the citizens. There should a strategy customized for each country.
The field involved with the organization, grouping, ordering, and presentation of content is known as ________.
Answer: Information architecture
Explanation:
Information Architecture is the field that is involved with the organization, grouping, ordering, and presentation of content.
In Information architecture (IA), the focus is mainly on the organizing, structuring, and the labeling of content in a way that is effective and also sustainable. The main goal of information Architecture is for users to be able to find information and also be able to complete tasks.
Change management failures can be traced to many different aspects. Think of an organization with which you are familiar and share two aspects that are attributed to not managing or sustaining the change. What should be done differently
Answer and Explanation:
Change management is the process, approach etc to bring out the positive change in a company that would help in accomplishing the goals of the company. It could be in terms of organization structure, functions, etc
There is no surety whether the changes that are implemented in the organization are successful or not.
Like we take the example of HP as they decided to close out the plant and staff layoff this information is leaked down due to which it badly impact the performance level so it negatively impact the organization
Also in the technologies, the changes plays a vital role. It could be via adopting a new technology i.e. automation but in some how it does not work so it leads to project failure.
So before seeing the bad results, the company should have to analyze the things in order to take the best decisions also it should have a recovery plan or plan B if anything wrong had done
What type of adjustments must advertising agencies make as more companies want "one sight, one sound, one sell" campaigns?
Explanation:
Campaigns "a vision, a sound, a sell" are those that seek a unified approach to the brands and products belonging to an organization.
This marketing strategy focuses on the search for greater standardization of an organization and greater positioning in the market, adding greater value to its products and allowing greater control of the management of the effectiveness of the marketing campaign.
Therefore, to meet the demand for this type of campaign, advertising agencies must make the necessary adjustments to unify the products and brands belonging to the same company in order to promote the value of the other product lines, but also to create their own aligned advertising. to each product and its benefits, so that the customer understands that the company is complete and serves it on several levels.
It is also ideal for advertising agencies to ensure that there is no conflict overlapping the values of a product or the main brand.
"Uterine family" is the phrase Margery Wolf uses to describe the family a woman makes by having children though they are not officially recognized as members of the same lineage.
a. True
b. False
Answer:
a. True
Explanation:
The uterine family represents the individual mother and mother children. in other way, it is you, your mother, your siblings, etc
The Uterine family implies the family description that shows the women have the children but they are not officially recorded as a members of the similar lineage
Therefore the given statement is true
Select the correct answer.
PKGM is the auditor of Alique Pharma Inc. Every year. Jasper gets its financial reports attested by PKGM. Under which section of the Sarbanes-Oxley Act should a company's registered accounting firm attest to the financial reports of the company?
A. Section 401
B.Section 404
с.Section 302
D. Section 802
Answer:
B-section 404
Explanation:
it is registered as 404
Answer:
section 404
Explanation:
The U.S. Treasury's 20-year bond has a yield-to-maturity of 2.5%. In order for a 20-year bond of a corporation to have the same price as that of the Treasury it must pay the same coupon.
a. True
b. False
Answer:
b. False
Explanation:
US Treasury bonds are considered risk free investments, so their price is not affected by market risk. On the other hand, a corporation's bond is not a risk free investment and its price is affected by market risk. The higher the risk, the higher the expected return and the lower the price of a security.
During the year, Eastern Gas Pipeline Co. issued 5,000 shares of preferred stock for $25 per share. This transaction is classified as .
Answer: B. Financing cash flow
Explanation:
Financing cashflow activities are those that have to do with the capital raised for the operations of the business. Every cash transaction related to capital falls under Financing activities.
This includes transactions such as issuing shares such as the preferred shares in the question and debt instruments such as bonds. Dividends and treasury purchases also fall under here.
Comfort Mattresses, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be:
A. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value. Common Stock $206,000.
B. Debit Cash for $312,000; credit Common Stock $312,000.
C. Debit Common Stock $26,000; debit Paid-in Capital In Excess of Par Value, Common Stock $286,000; credit Cash $312,000.
D. Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000.
E. Debit Common Stock $26,000; credit Cash $26,000.
Answer: A. Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value. Common Stock $286,000.
Explanation:
Par Value of stock = 26,000 * 1 = $26,000
Cash received = 26,000 * 12 = $312,000
Paid in Capital in excess of Par, Common stock = 312,000 - 26,000 = $286,000
Cash would be debited by the amount received.
Common Stock would be credited by the Par value of $26,000
Paid in Capital in excess of Par will be credited as well for $286,000.
What is the problem with ISPs, which are private business firms, charging whatever they want to charge and that the market will bear
Answer:
The concern as set out in the scenario was indeed presented below.
Explanation:
The major issue has always been that the globe's largest ISPs were only ever some very corporations and would have the authority to monopolize prices. Enough that whenever they're doing, this same employees have no problem with paying what others individuals ask for this with the internet connection, and as well as the suppliers were becoming addictive to the use of those same service providers, so that's where they'll pay whichever the ISPs request besides.given Qx=20-5p where price is 3 units find the price elasticity
Answer:
[tex]Q_x=5[/tex]
Explanation:
Given that,
The formula is :
[tex]Q_x=20-5p[/tex] ....(1)
Where p is price
We need to find the price elasticity
Put p = 3 units in equation (1)
[tex]Q_x=20-5(3)\\\\=20-15\\\\=5[/tex]
Hence, the price elasticity is 5.
When using vertical analysis, we express income statement accounts as a percentage of Multiple Choice Sales. Net income. Total assets. Gross profit.
Answer: Sales
Explanation:
Vertical analysis is referred to as a form of financial statement analysis where the items that are shown in the financial statement is written as a percent of a base figure.
It is also known as common-size analysis. It should be noted that when one is using the vertical analysis, the income statement accounts are being expressed as a percentage of sales while the balance sheet accounts are been expressed as a percentage of the total assets.
