Answer: Remeasurement loss of $21,970
Explanation:
The figures will have to be converted from Euros to US$ for the calculation.
The relevant exchange rate will be the rate on the date of the transaction.
Amount Exchange rate $Amount
Opening cash 528,000 1.14 601,920
Increase in Cash assets:
Sale of inventory 160,000 1.20 192,000
688,000 793,920
Decrease in cash assets:
Acquisition of warehouse 300,000 1.14 (342,000)
Purchase of inventory 100,000 1.18 (118,000)
Transfer to parent 10,000 1.18 (11,800)
Ending net cash assets 278,000 322,120
Remeasurement gain(loss) at 31 December = Ending net cash assets at current rate - Ending net cash assets
= (278,000 * 1.08) - 322,120
= 300,240 - 322,120
= ($21,970)
Options are not for this question.
which of the following is not an advantage of budgeting?
Explanation:
where are the options of the question
Answer:
wasting of money
Explanation:
because that's is disadvantages of budgeting
Which of the following is the most effective means of assessing and validating policies, plans, procedures, training, equipment, assumptions, and interagency agreements?
a. emergency planning
b. plan review
c. interagency communication
d. exercises
Answer:
The most effective means of assessing and validating policies, plans, procedures, training, equipment, assumptions, and interagency agreements is:
b. plan review
Explanation:
A plan review, which is a project control measure, ensures that a project or an undertaking complies fully with the ground norms, rules, regulations, and initial agreements between contracting parties. When the plan review is complete, the particular project can proceed for implementation. Plan review also ensures that there are no unforeseen circumstances that could derail the implementation stage of the project. It is at this important stage that the resources to be used are clearly and positively earmarked. A plan review also offers the opportunity to ensure that the intended benefits will be realized after the project goes alive.
George Clausen (age 48) is employed by Kline Company and is paid a salary of $43,004. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:______.
a. What is the maximum that he can contribute into this retirement fund?
b. What would be the company's contribution? Round your answer to the nearest cent.
c. What would be his weekly take-home pay if he contributes the maximum allowed retirement contribution (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)? Round your calculations and answer to the nearest cent.
d. What would be his weekly take-home pay without the retirement contribution deduction? Round your calculations and answer to the nearest cent.
Answer:
a. As per the relevant provisions of IRS, the maximum amount of contribution that can be made to Simple Retirement Account (IRA form) for the year 2016 by an employee is $12,500
b. The maximum amount of contribution that can be made to the Simple Retirement Account according to the provisions of IRS (2016) by the company is 3% of total compensation earned by the employee. So the total amount of company's contribution would be $1290.12 ($43,004*3%).
c. Weekly Pay (43,004/52) 827
Less: Weekly Retirement Contribution 240.38 (12,500/52)
Weekly Wages 586.62
Less
FICA Tax (827*6.2% + 827*1.45%) 63.2655
Federal Income Tax (Refer to Weekly 58
Wage Table for Married Persons, Column
for 2 Allowances)
State Income Tax (827*2.3%) 19.021
Weekly Take Home Pay $446.33
d. Weekly Pay (43,004/52) 827
Less: FICA Tax (827*6.2% + 827*1.45%) 63.2655
Federal Income Tax (Refer to Weekly 58
Wage Table for Married Persons,
Column for 2 Allowances)
State Income Tax (827*2.3%) 19.021
Weekly Take Home Pay $686.71
please pasagot ang
hirap kasi
Answer:
1)32/100×10000
=3200
2)13/100×10000
=1300
3)15/100×10000
=1500
4)3/100×10000
=300
5)4/100×10000
=400
6)12/100×10000
=1200
7)5/100×10000
=500
8)2/100×10000
=200
9)14/100×10000
=1400
the total amount is 3200+1300+1500×300+400+1200+500+200+1400
=10000
is this the way...I am sorry if it is wrong...was just giving it a try..
Department S had no work in process at the beginning of the period. It added 10,000 units of direct materials during the period at a cost of $70,000; 7,500 units were completed during the period; and 2,500 units were 38% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. Direct labor was $59,600 and factory overhead was $8,900. The total cost of units completed during the period were:______.
a. $133,784.
b. $111,487.
c. $102,285.
d. $52,500.
Answer:
Department S
The total cost of units completed during the period were:______.
= $113,325
Explanation:
a) Data and Calculations:
Units started during the period = 10,000
Material cost of units started = $70,000
Units completed = 7,500 units
Units in ending WIP = 2,500 units
Equivalent units: Materials Conversion
Started and completed 7,500 7,500
Ending WIp 2,500 950 (2,500 * 38%)
Total equivalent units 10,000 8,450
Cost of production: Materials Conversion Total
Units started $70,000 $68,500 $138,500
Equivalent units 10,000 8,450
Cost per equivalent $7.00 $8.11
Cost of units completed:
Materials $52,500 (7,500 * $7)
Conversion 60,825 (7,500 * $8.11)
Total costs $113,325
Initially, a reduction in export subsidies decreases net exports at any given real exchange rate, causing the demand for dollars in the foreign exchange market to decrease. This leads to a decrease in the real exchange rate, which, in turn, decreases imports to negate any decrease in exports, leaving the equilibrium quantity of net exports and the trade deficit unchanged at this point.
However, the reduction in expenditure on export subsidies _________the fiscal deficit, thereby _______public saving.
Answer:
Decreases; increasing
Explanation:
However, the reduction in expenditure on export subsidies decreases the fiscal deficit, thereby increasing public saving.
National savings refers to the sum of public and private savings. Public savings is the government budget balance. An increase in the balance or decrease in deficit implies the public savings increase and also increase in national savings. Then, the decrease in subsidy spending decreases government deficit and increases national savings and supply of loanable funds, so the loanable funds shift to the right.
Please help me with this accounting question
How can a business entity have controlling interest of another business entity when it does not own over 50% of the parent company ordinary share capital?
Answer:
Shareholders that have a controlling interest often are able to direct the course of at least 50% of the outstanding shares of a given company plus one person or group owns a significant portion of it's voting shares, as not every deal that continues to give them majority voting power over the new entity.
Explanation:
I majored in Business
For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $ 330,000 Permanent difference (15,800 ) 314,200 Temporary difference-depreciation (20,900 ) Taxable income $ 293,300 Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its deferred income tax liability as of the end of its first year of operations?
Answer:
$5,225
Explanation:
Calculation for What should Tringali report as its deferred income tax liability as of the end of its first year of operations
Using this formula
Deferred income tax liability=Temporary difference-depreciation*Tringali's tax rate
Let plug in the formula
Deferred income tax liability= $20,900 * 25%.
Deferred income tax liability=$5,225
Therefore What Tringali should report as its deferred income tax liability as of the end of its first year of operations is $5,225
Prepare summary journal entries to record the following transactions for a company in its first month of operations.
Raw materials purchased on account, $114,000.
Direct materials used in production, $45,500. Indirect materials used in production, $20,400.
Paid cash for factory payroll, $50,000. Of this total, $37,000 is for direct labor and $13,000 is for indirect labor.
Paid cash for other actual overhead costs, $9,125.
Applied overhead at the rate of 125% of direct labor cost.
Transferred cost of jobs completed to finished goods, $80,500.
Sold jobs on account for $115,000. The jobs had a cost of $80,500.
a. Record raw materials purchased on account .
b(1). Record the entry to assign costs of direct materials used.
b(2). Record the entry for indirect materials.
c. Record the usage of direct and indirect labor, paid in cash.
d. Record other actual overhead costs, paid in cash.
e. Record the entry to apply overhead at a rate of 125% of direct labor cost.
f. Record costs of jobs completed.
g(1). Record the cost of the jobs sold.
g(2). Record sales on account.
Answer:
1a. Dr Raw materials inventory $114,000
Cr Accounts payable $114,000
b(1) Dr Work in process inventory $45,500
Cr Raw materials inventory$45,500
b(2) Dr Factory overhead $20,400
Cr Raw materials inventory$20,400
c.Dr Work in process inventory 37,000
Dr Factory overhead 13,000
Cr Cash 50,000
d. Dr Factory overhead 9,125
Cr Cash 9,125
e. Dr Work in process inventory 45,500
Cr Factory overhead45,500
f. Dr Finished goods inventory $80,500
Cr Work in process inventory$80,500
g(1) Dr Cost of goods sold$80,500
Cr Finished goods inventory $80,500
g(2) Dr Accounts receivable $115,000
Cr Sales $115,000
Explanation:
Preparation of summary journal entries
1a. Dr Raw materials inventory $114,000
Cr Accounts payable $114,000
(Being to record raw materials purchased on account )
b(1) Dr Work in process inventory $45,500
Cr Raw materials inventory$45,500
(Being to Record the entry to assign costs of direct materials used)
b(2) Dr Factory overhead $20,400
Cr Raw materials inventory$20,400
(Being to record the entry for indirect materials)
c.Dr Work in process inventory 37,000
Dr Factory overhead 13,000
Cr Cash 50,000
(Being to Record the usage of direct and indirect labor, paid in cash)
d. Dr Factory overhead 9,125
Cr Cash 9,125
(Being to Record other actual overhead costs, paid in cash)
e. Dr Work in process inventory 45,500
Cr Factory overhead45,500
(Being to Record the entry to apply overhead)
f. Dr Finished goods inventory $80,500
Cr Work in process inventory$80,500
(Being to Record costs of jobs completed)
g(1) Dr Cost of goods sold$80,500
Cr Finished goods inventory $80,500
(Being to Record the cost of the jobs sold)
g(2) Dr Accounts receivable $115,000
Cr Sales $115,000
(Being to Record sales on account)
PLEASE GIVE ME AN EXPLANATION ON HOW TO DO THIS OR DO IT FOR ME I REALLY NEED THIS SO I CAN PASS
You will assist four of the affected patients or their family members with their concerns regarding the lack of heating, ventilation, and air
conditioning (HVAC) in the maternity ward.
• For each interaction, note the time, describe who is voicing a concern, what the problem is, and the approach you are taking to
assist the customer. Be sure to include in the interaction any source of conflict, and the ultimate resolution.
• You may describe each encounter by writing in a short paragraph format, covering all points of the interaction. Or, you may
describe by using dialogue parts, as you would find in a play.
Answer:
hii can we be friends
अनुपात के लिए प्रतिशत कैसे प्राप्त करें
अनुपात अक्सर एम: एन या एम / एन के रूप में व्यक्त किए जाते हैं। अनुपात को प्रतिशत के रूप में परिवर्तित करने के लिए, केवल m को n से विभाजित करें और फिर परिणाम को 100 से गुणा करें।
अनुपात को प्रतिशत में बदलने के लिए कदम
रूपांतरण में तीन सरल चरण होते हैं:
चरण 1: पहली संख्या को दूसरी संख्या से विभाजित करें
चरण 2: प्रतिशत में बदलने के लिए 100 से गुणा करें
चरण 3: प्रतिशत प्रतीक जोड़ें (%)
उदाहरण के लिए , यदि अनुपात 12: 4 है, तो इसे प्रपत्र 12/4 में बदल दें, जो एक समीकरण है जिसे हम हल कर सकते हैं। उसके बाद, प्रतिशत प्राप्त करने के लिए परिणाम को 100 से गुणा करें।
12 3 4 = 3 3 × 100 = 300%अनुपात के लिए प्रतिशत को हल करने के लिए समीकरण
Which of the following transactions increases owner’s equity? a.Earn revenue b.Receive cash from customers on account c.Pay expenses d.Withdraw money for personal use
Answer:
A. Earn revenue
B. Receive Cash from customers on account
Explanation:
The effects of the transactions mentioned in the question are explained below:
A. Earn Revenue
The revenue earned causes the owner's equity to increase. As will it increase the current assets (accounts receivable for credit based transaction and bank for cash based transactions).
B. Receive Cash from customers on account
When cash is received from customers it results in the increase in the current assets . Giving companies the opportunity to invest more in the business. Therefore, the owner's equity is increased in this case.
C. Pay expenses
When the expenses are paid, the owner's equity falls and simultaneously the current assets fall as the cash available has been decreased.
D. Withdraw money for personal use
The owner's equity when available is used for the purpose of investing in the business, therefore, when cash is withdrawn for personal use the amount available to spend on business has been reduced. Hence, owner's equity has fallen.
At the end of the month, we record the supplies that have been used throughout the period. Required: For the transaction above, complete the following:
(a) Select the accounts that are affected (there will be at least two).
(b) Are the selected accounts increased or decreased?
(c) If Equity is selected, choose the reason that it has changed.
Answer:
a. The accounts affected are assets (Supplies) and Equity (Retained Earnings).
b. Assets and Equity accounts are decreased.
c. The reason that Equity has changed is because the Retained Earnings are reduced by the Supplies Expense.
Explanation:
The five major classifications of accounts are assets, liabilities, equity, revenue and expenses. Both revenues and expenses affect the equity balance through retained earnings. While revenues increase retained earnings, expenses decrease them.
JANE’S EVALUATION
Paul Medwick is a commercial banker. In the past month, he has received loan applications from three entrepreneurs. All three have fledgling businesses with strong potential. However, Paul believes it is important to look at more than just the business itself; the individual also needs close scrutiny. The three entrepreneurs are (1) Robin Wood, owner of a small delicatessen located in the heart of a thriving business district; (2) Richard Trumpe, owner of a ten-minute oilchange-and-lube operation; and (3) Phil Hartack, owner of a bookstore that specializes in best sellers and cookbooks. Paul has had the bank’s outside consultant, Professor Jane Jackson, interview each of the three entrepreneurs. Jane has done a lot of work with entrepreneurs and—after a couple hours of discussion—usually can evaluate a person’s entrepreneurial qualities. In the past, Jane has recommended 87 people for loans, and only two of these ventures have failed. This success rate is much higher than that for commercial loans in general. Following is Jane’s evaluation of the three people she interviewed.
Characteristic Robin Wood Richard Trumpe Phil Hartack
Perseverance H M M
Drive to achieve M H M
Initiative M H M
Persistent problem-solving M M H
Tolerance for ambiguity L M H
Integrity and reliability H M H
Tolerance for failure H H H
Creativity and innovativeness M H M
Self-confidence H H H
Independence H H H
H = High; M = Medium; L = Low.
1. Which of the three applicants do you think comes closest to having the mind-set of an ideal entrepreneur? Why?
2. To which applicant would you recommend that the bank lend money? (Assume that each has asked for a loan of $150,000).
3. Can these three entrepreneurs do anything to improve their entrepreneurial profile and their chances for success?
Answer:
1. Richard Trumpe comes closest to having the mindset of an ideal entrepreneur. This is because of his high creativity and innovativeness.
2. I would recommend that the bank lend the $150,000 to Phil Hartack because of his high integrity and reliability.
3. The three entrepreneurs can improve their entrepreneurial profile and, therefore, their chances for entrepreneurial success by working to improve their weak points. For example, Robin Wood can improve his drive to achieve, problem-solving skills, creativity, and innovativeness. Richard Trumpe can also improve his problem-solving skills and work on his personal integrity and reliability by making it a point to live by the truth. His word should become his bond, henceforth. This has cost him the loan and made Phil preferable. Phil also needs to up his creativity and innovativeness game, which will rub off on his ability to take initiatives, drive to achieve, and perseverance.
Explanation:
a) Data and Calculations:
Characteristic Robin Wood Richard Trumpe Phil Hartack
Perseverance H M M
Drive to achieve M H M
Initiative M H M
Persistent problem-solving M M H
Tolerance for ambiguity L M H
Integrity and reliability H M H
Tolerance for failure H H H
Creativity and innovativeness M H M
Self-confidence H H H
Independence H H H
Scores H M L
Robin Wood 5 4 1
Richard Trumpe 6 4 0
Phil Hartack 6 4 0
H = High; M = Medium; L = Low.
1). The applicant who would come closest to possessing the mindset of an ideal entrepreneur would be:
Richard Trumpe
2). The applicant who would be recommended to the bank for lending the money would be:
Phil Hartack
3). The decision that could be made regarding the improvement in the entrepreneurial profile of the three entrepreneurs would be:
Yes.
Entrepreneurial Mindset
As per the details provided, Richard Trumpe is most likely to reach closest to having the ideal entrepreneurial mindset because he possesses a higher level of innovation and vision.Phil Hartack would be recommended to the bank for lending him money because his credibility and probity are quite high. There are probabilities of all the three to improve in terms of their entrepreneurial profile where they can enhance their low points and become more innovative, effective, productive, and efficient.Learn more about "Entrepreneur" here:
brainly.com/question/4910555
To build wealth is a gamble; the wealthy people are lucky and become rich overnight. True or false
This seems like a rather subjective question. Wealth is built over a lifetime with income. Inheritance is definitely one way to become wealthy, so I would say True
The company's adjusted trial balance includes the following account balances cash is 15000 equipment is 85000 accumulated depreciation is 25,000 accounts payable is 10,000 retained earnings is 59,000 dividends is 2,000 fees earned is 56000 depreciation expense is $25,000 in salaries expenses 23,000 all accounts have normal balances
Answer and Explanation:
The closing entries for the following accounts are:
1. Fees earned A/c Dr $56,000
To Income Summary $56,000
(To record the closing of the revenue account)
2. Income summary A/c Dr $48,000
To Depreciation Expense $25,000
To Salaries Expense $23,000
(To record the closing of the expenses accounts)
3. Income summary A/c Dr $8,000 ($56,000 - $48,000)
To Retained earning $8,000
(To record the difference i.e. credited to retained earning)
4. Retained earnings A/c Dr $2,000
To Dividend A/c $2,000
(To record the closing of the dividend account)
What is the Jpmorgan ceo leadership style and characters?
The trial balance of Blues Traveler Corporation does not balance.
Debit Credit
Cash $5,992
Accounts Receivable 5,280
Supplies 3,007
Equipment 6,140
Accounts Payable $7,084
Common Stock 8,040
Retained Earnings 2,040
Service Revenue 5,240
Office Expense 4,360
$24,779 $22,404
An examination of the ledger shows these errors.
1. Cash received from a customer on account was recorded (both debit and credit) as $1,620 instead of $1,890.
2. The purchase on account of a computer costing $3,360 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3. Services were performed on account for a client, $2,290, for which Accounts Receivable was debited $2,290 and Service Revenue was credited $265.
4. A payment of $135 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5. The Service Revenue account was totaled at $5,240 instead of $5,320.
Required:
From this information prepare a corrected trial balance.
Answer:
Total DEBIT SIDE $24,509
Total CREDIT SIDE $24,509
Explanation:
Preparation of a corrected trial balance..
BLUES TRAVELER CORPORATION
Trial Balance April 30,2020
DEBIT SIDE
Cash $5,992
(5992+270-135-135=$5,992)
(1,890-1,620=270)
Accounts Receivable $5,010
(5,280-270=$5,010)
(1,890-1,620=270)
Supplies $3,007
Equipment $9,500
(6,140+3,360=$9,500)
Office Expense $1,000
(4,360-3,360=$1,000)
Total DEBIT SIDE $24,509
CREDIT SIDE
Accounts payable $7,084
Common stock $8,040
Retained earnings $2,040
Service revenue $7,345
(5,240+2,025+80=$7,345)
(2,290-265=2,025)
($5,320 - $5,240=80)
Total CREDIT SIDE $24,509
Therefore the corrected trial balance Total DEBIT SIDE and Total CREDIT SIDE will be $24,509
Crawford Corporation incurred the following transactions.
1. Purchased raw materials on account $53,800.
2. Raw Materials of $36,500 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $8,500 was classified as indirect materials.
3. Factory labor costs incurred were $61,900, of which $50,000 pertained to factory wages payable and $11,900 pertained to employer payroll taxes payable.
4. Time tickets indicated that $54,900 was direct labor and $7,000 was indirect labor.
5. Manufacturing overhead costs incurred on account were $82,300.
6. Depreciation on the company's office building was $9,000.
7. Manufacturing overhead was applied at the rate of 160% of direct labor cost.
8. Goods costing $96,600 were completed and transferred to finished goods.
9. Finished goods costing $79,400 to manufacture were sold on account for $106,800.
Required:
Journalize the transactions.
Answer:
Crawford Corporation
Journal Entries:
1. Debit Raw materials inventory $53,800
Credit Accounts payable $53,800
To record the purchase of raw materials on account.
2. Debit Work-in-Process $28,000
Debit Manufacturing overhead $8,500
Credit Raw materials inventory $36,500
To record the requisition of materials.
3. Debit Factory Wages $61,900
Credit Factory Wages Payable $50,000
Credit Employer Payroll Taxes Payable $11,900
To record the factory labor costs.
4. Debit Work-in-Process $54,900
Debit Manufacturing overhead $7,000
Credit Factory Wages $61,900
To record the direct and indirect labor costs.
5. Debit Manufacturing overheads $82,300
Credit Accounts payable $82,300
To record overheads incurred on account.
6. Debit Depreciation expense $9,000
Credit Accumulated depreciation -office building $9,000
To record depreciation expense.
7. Debit Work-in-Process $87,840
Credit Manufacturing overheads $87,840
To record overhead applied at the rate of 160% of direct labor cost.
8. Debit Finished Goods Inventory $96,600
Credit Work-in-Process $96,600
To record the transfer of goods to finished goods.
9. Debit Cost of Goods Sold $79,400
Credit Finished Goods Inventory $79,400
To record the cost of goods sold.
9. Debit Accounts Receivable $106,800
Credit Sales Revenue $106,800
To record the sale of goods on account.
Explanation:
Journal entries are used by Crawford Corporation to record its business transactions as they occur daily. They are the first records of business transactions in the accounting books. They show the accounts to be debited and the others to be credited.
Jan Holliday Dance Studios is a chain of 45 wholly owned dance studios that offer private lessons in ballroom dancing. The studios are located in various cities throughout the southern and southeastern states. Holliday offers a set of 12 private lessons; students may pay for the lessons one at a time, but each student is required to enroll for at least a 12-lesson plan. The 20-, 40-, and 100-lesson plans offer savings. Each dance instructor is paid a small salary plus a commission based on the number of dance lessons provided.
Required:
Indicate whether the cost should be classified as (a) direct, (b) indirect, (c) variable, and (d) fixed with respect to the following list for the cost objects.
1. Each dancing instructor’s salary
2. Manager’s salary
3. Music tapes used in instruction
4. Utilities for the studio
5. Part-time studio receptionist
6. Planning and development materials sent from the home office
7. Free lessons given by each studio as a promotion
8. Regional TV and radio advertisements placed several times a year
Answer:
For Studios as the Cost object:
1. Each dancing instructor’s salary - Direct Cost , Variable Cost
2. Manager’s salary - Direct Cost , Variable Cost
3. Music tapes used in instruction - Direct Cost , Variable Cost
4. Utilities for the studio - Direct Cost , Variable Cost
5. Part-time studio receptionist - Direct Cost , Variable Cost
6. Planning and development materials sent from the home office - Indirect Cost , Variable Cost
7. Free lessons given by each studio as a promotion - Direct Cost , Variable Cost
8. Regional TV and radio advertisements placed several times a year - Direct Cost , Fixed Cost
For Lessons as the Cost object:
1. Each dancing instructor’s salary - Direct Cost , Fixed Cost
2. Manager’s salary - Indirect Cost , Fixed Cost
3. Music tapes used in instruction - Indirect Cost , Fixed Cost
4. Utilities for the studio - Indirect Cost , Fixed Cost
5. Part-time studio receptionist - Indirect Cost , Fixed Cost
6. Planning and development materials sent from the home office - Indirect Cost , Fixed Cost
7. Free lessons given by each studio as a promotion - Indirect Cost , Fixed Cost
8. Regional TV and radio advertisements placed several times a year - Indirect Cost , Fixed Cost
Explanation:
There are two possibilities of the cost object :
1. Studios as the Cost object
2. Lessons as the Cost object
Now,
For Studios as the Cost object:
1. Each dancing instructor’s salary - Direct Cost , Variable Cost
2. Manager’s salary - Direct Cost , Variable Cost
3. Music tapes used in instruction - Direct Cost , Variable Cost
4. Utilities for the studio - Direct Cost , Variable Cost
5. Part-time studio receptionist - Direct Cost , Variable Cost
6. Planning and development materials sent from the home office - Indirect Cost , Variable Cost
7. Free lessons given by each studio as a promotion - Direct Cost , Variable Cost
8. Regional TV and radio advertisements placed several times a year - Direct Cost , Fixed Cost
Now,
For Lessons as the Cost object:
1. Each dancing instructor’s salary - Direct Cost , Fixed Cost
2. Manager’s salary - Indirect Cost , Fixed Cost
3. Music tapes used in instruction - Indirect Cost , Fixed Cost
4. Utilities for the studio - Indirect Cost , Fixed Cost
5. Part-time studio receptionist - Indirect Cost , Fixed Cost
6. Planning and development materials sent from the home office - Indirect Cost , Fixed Cost
7. Free lessons given by each studio as a promotion - Indirect Cost , Fixed Cost
8. Regional TV and radio advertisements placed several times a year - Indirect Cost , Fixed Cost
Which attribute of a photographer will a portfolio convey?
A.diplomacy
B.versatility
c.generosity
D.sincerity
Answer:
The answer is B. versatility.
Explanation:
I took the test on Edmentum and got it right.
The income statement of Sheffield Corp. for 2020 included the following items: Interest revenue $137000 Salaries and wages expense 218000 Insurance expense 23100 The following balances have been excerpted from Sheffield Corp.'s balance sheets:
December 31, 2014 December 31, 2013,
Interest receivable $18,200 $15,000
Salaries and wages Payable $17,800 $8,400
Prepaid Insurance $2,200 $3,000
The cash received for interest during 2014 was:____.
a. $121,000.
b. $102,800.
c. $117,800.
d. $124,200.
Answer:
$133,800
Explanation:
Calculation for The cash received for interest during 2014
Using this formula
2014 Cash received for interest=Interest revenue-2014 Interest receivable+2013 Interest receivable
Let plug in the formula
2014 Cash received for interest=$137,000-$18,200+ $15,000
2014 Cash received for interest=$133,800
Therefore The cash received for interest during 2014 was:$133,800
4. a. Define in personam jurisdiction.
b. Define and explain the application of a "long arm" statute.
Explanation:
Personam jurisdiction
In the authority of an individual, jurisdiction over even a specific person alluded to. In particular, if heard before a criminal court, which court was allowed to decide on any case by which it had otherwise authority.
"long arm" statute
A long-arm legislation is a law that permits a judge, on the grounds of some of these crimes undertaken by an other in offender, to seek legal authority over an other in defendant, such that the plaintiff has an adequate relationship with the prosecution.
On December 11, 2019, Hooper Inc. made a credit sale to Marshall Company and required Marshall to sign a $12,000, 60-day note.Required:Prepare the journal entries necessary to record the receipt of the note by Hooper, the accrual of interest on December 31, 2019, and the customer’s repayment on February 9, 2020, assuming:1. Interest of 12% was assessed in addition to the face value of the note.2. The note was issued as a $12,000 non-interest-bearing note with a present value of $11,765. The implicit interest rate on the note receivable was 12%. Assume a 360-day year.
Answer:
1) December 11, 2019
Dr Notes receivable 12,000
Cr Sales revenue 12,000
December 31, 2019
Dr Interest receivable 80
Cr Interest revenue 80
February 9, 2020
Dr Cash 12,240
Cr Notes receivable 12,000
Cr Interest revenue 160
Cr Interest receivable 80
2) December 11, 2019
Dr Notes receivable 12,000
Cr Sales revenue 11,764.71
Cr Discount on notes receivable 235.29
December 31, 2019
Dr Discount on notes receivable 78.43
Cr Interest revenue 78.43
February 9, 2020
Dr Cash 12,000
Dr Discount on notes receivable 156.86
Cr Notes receivable 12,000
Cr Interest revenue 156.86
Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $80,300. They have excess depreciation on real estate of $67,500, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense for the year was $25,000, and they made charitable contributions of $7,500. They have no other itemized deductions. If Otto and Monica's taxable income for the current year is $39,700, determine the amount of their AMTI.
Answer:
$115,300
Explanation:
Calculation to determine the amount of their AMTI.
AGI $80,300
Add Depreciation on real estate $67,500
Less Mortgage interest expense ($25,000)
Less Charitable contributions ($7,500)
AMTI $115,300
(80,300 + 67,500 - 25,000 - 7,500)
Therefore the amount of their AMTI will be $115,300
As a Marketing Manager of a Multinational Company Imran & Co., which will manufacture Detergent; draft a detailed Marketing Plan for the year 2020-21? Assuming that the Product is to be launched in Pakistan as a part of your Market Development Strategy?
Answer:
NZXCVJIGH80BGRG
Explanation:
State whether the following statement is true or false, and explain why. If the statement is false, state the true change. If the national economy shrank at an annual rate of 20% per year for three consecutive years, then the economy shrank by 60% over the three-year period.
Answer:
It's true.
Explanation:
Because every year 20% is added so after 3 years it's 60%
this is because the percentage changes a certain amount every months which increases the amount of money it's worth or how much the price goes down.
Which description applies to the middle class in American society?
A. They tend to lack a high school education.
B. They tend to live off wealth that their parents accumulated.
C. They tend to live comfortably as long as they have jobs.
D. They tend to live without the means to find shelter.
Answer:
(C).They tend to live comfortably as long as they have jobs
Answer:
C. "They tend to live comfortably as long as they have jobs."
A bank system contains data on customers (identified by name and address) and their accounts. Each account has a balance and there are 2 type of accounts: one for savings which offers an interest rate, the other for investments, used to buy stocks.
a. True
b. False
Answer:
a. True
Explanation:
The system of the bank contains the customers data i.e. name and the address by which they could be identified also their accounts are identified. Each and every account has the balance option also it involved two types of accounts i.e. saving that provides the rate of interest and the other one is for investment that used to purchase the stocks
Hence, the given statement is true
Kurtulus Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory 700
Materials costs $7,100
Conversion costs $2,400
Percent complete with respect to materials 55%
Percent complete with respect to conversion 25%
Units started into production during the month 6,600
Units transferred to the next department during the month 5,800
Materials costs added during the month $110,200
Conversion costs added during the month $83,300
Ending work in process inventory:
Units in ending work in process inventory 1,500
Percent complete with respect to materials 70%
Percent complete with respect to conversion 55%
The total cost transferred from the first processing department to the next processing department during the month is closest to:_________--
a. $192,401
b. $174,348
c. $201,701
d. $217,391
Answer:
b. $174,348
Explanation:
Calculation for what The total cost transferred from the first processing department to the next processing department during the month is closest to
First step is to calculate Equivalent units of production
Units transferred to the next department 5800 5800
Ending work in process:
Materials: 1500 units × 70% 1050
Conversion: 1500 units × 55% 825
Equivalent units of production 6850 6625
Second step is to calculate Cost per equivalent unit
Materials Conversion
Cost of beginning work in process inventory $7100 $2400
Costs added during the period $110,200 83,300
Total cost (a)$117,300 $85,700
Equivalent units of production (b)6850 6625
Cost per equivalent unit (a) ÷ (b)$17.12 $12.94
Last step is to calculate Cost of units completed and transferred out
Material Conversion Total
Units completed and transferred out:
Units transferred to the next department (a) 5800 5800
Cost per equivalent unit (b)$ 17.12 $12.94
Cost of units completed and transferred out (a) × (b)$99,296 $75,052 $174,348
Total=$99,296+ $75,052
= $174,348
Therefore The total cost transferred from the first processing department to the next processing department during the month is closest to $174,348
Which of the following would not be (True) in the event that a newly admitted partner pays more than book value for his/her investment in a partnership?
a. Assign a bonus to the prior partners
b. Record unrecognized goodwill and allocate it to the prior partners
c. Record no revaluations, bonus, or goodwill
d. Revalue net assets up to market value and allocate to prior partners
Answer:
c. Record no revaluations, bonus, or goodwill
Explanation:
As new incoming partner is giving more than the investment required it means there is some goodwill or revaluations or bonus involved which requires to be treated in the books otherwise it will be assumed that accounts are not properly reported and capital accounts will not be justified. Third option says no revaluations, bonus or goodwill will be recorded which is wrong.
