Financial statement ratios play an important role in understanding and interpreting financial data. The solvency, liquidity, savings, and debt service ratios are important tools that will provide you with information, helping you chart and improve your personal financial planning. Complete the equations for each of the following financial statement ratios.

a. Solvancy ratio
b. Liquidity Ratio
c. Savings Ratio
d. Debit service Ratio

Answer and Explanation:

The closing entries for the following accounts are presented below:

1. Sales Revenue A/c Dr $408,750

        To Income Summary $408,750

(Being revenue account closed)

2. Income summary A/c Dr $323,830

      To Cost of Goods Sold          $229,017

      To Sales Returns and Allowances $11,908

      To  Sales Discounts                        $15,070

      To Selling Expenses                       $16,133

      To Administrative Expenses          $37,525

      To Income Tax Expense                 $30,300

(Being expenses accounts are closed)

3. Income summary A/c Dr $84,930 ( $408,750 - $323,830)

       To Retained earning $84,930

(Being the difference is credited to retained earning)

4. Retained earnings A/c Dr $17,873

         To Dividend A/c $17,873

(Being dividend account is closed)

Answer: a. endogenous.

Explanation:

Endogenous growth refers to a phenomenon where growth in the economy is driven by internal factors instead of external ones.

The theory surrounding this type of growth supports investment in human capital in a nation because it believes that if the government and the private sector were to invest in human capital, there would be internal economic growth as the labor will become more productive.

Answer:

2.58%

Explanation:

Mathematically, the relationship between the different interest rates using the equation is shown below:

(1+S2)^2=(1+S1)^1*(1+2y1y)

The spot rate in year 2 is the same as the spot rate in year 1 multiplied by the 1-year forward rate beginning in year 2.

S2=2-year rate =2.34%

S1=1-year rate =2.10%

2y1y=one-year interest rate 2 years from now=the unknown

(1+2.34%)^2=(1+2.10%)^1*(1+2y1y)

(1+2y1y)=(1+2.34%)^2/(1+2.10%)^1

2y1y)=(((1+2.34%)^2/(1+2.10%)^1)-1

2y1y=1.025805642-1

2y1y= 2.58%

The formula shows that borrowing or lending for 2 years at 2.34% is the same as borrowing or lending at 2.10% in year and 2.58% forward rate in year 2

Answer:

Entrepreneurial management varies from managing established corporations.

Explanation:

Entrepreneurs must manage the affairs of a startup giving attention to all of the new paperwork filings (ig. Filing corporate charter, articles of incorporation, business license, dba, etc) in a timely manner while getting their new business off the ground. In addition to these tasks, the demands of managing everyday business still scream for attention.

The entrepreneurial demands are the concerns that affect managers of businesses. Some of them include;

To run a business effectively, entrepreneurs have several demands of the business that they must settle. Some of these include;

Learn more here:

https://brainly.com/question/21012374

Answer:

a)

Price                             $24   $21   $18   $15   $12    $9    $6    $3

Quantity Demanded      1         2      3       4      5       6      7       8

Marginal Revenue       $24   $18   $12   $6    $0    -$6  -$12  -$18

b) marginal revenue turns negative at 6 units

c) 5 units, since profits are maximized when MC = MR

d) $12, again profits are maximized when MC = MR

Answer:

c. Statement of work

Explanation:

Statement of work is usually a written description of the objectives to be achieved, with a brief statement of the work to be done and a proposed schedule specifying the start and completion dates.

This ultimately implies that, it is a written document that provides detailed information about set objectives and goals to be achieved by a business firm or company. It is essentially important for the growth and development of a business.

Answer:

As she is going to start a profession, she should be aware of  the feature of Profession and features of profession she should know is explained below in detail.

Explanation:

A profession is described as obtaining high expertise in a certain discipline and working to develop all that field for the well-being of the earth.

As Doctor Sapna is about to operate for the well-being of all the people. She should have fascinating of the following characteristics of professionalism, such as:

Answer:

Damien Carranza

Gross pay = $1.494.17

Explanation:

a) Data and Calculations:

Base annual salary = $31,750

Weekly base hours = 40 hours

We assume that there are 52 weeks in a calendar year.

Hourly rate = $31,750/(52 weeks * 40 hours) = $15.26442 per hour

Overtime worked = 4 hours

Overtime rate = 4 * $31,750/2,080 * 1.5 = $91.59

Weekly base pay = 40 * $31,750/2,080 = 610.58

Commission = $26,400 * 3% =                 792.00

Gross pay =                                            $1,494.17

b) Since Damien is a non-exempt employee, he is entitled to earn the federal minimum wage and qualify for overtime pay.  This is calculated as one-and-a-half times his hourly rate, for every hour worked above and beyond the standard 40-hour workweek.  The gross pay is Damien's total earnings throughout the week before deductions for mandated taxes, health insurance, retirement, and Medicare contributions are made.

Answer:

See below

Explanation:

The donation will increase the assets and the owners' equity.  Land and building are assets. An increase in assets is debited.

Donations received are equivalent to 'income' to the business. They add to equity. An increase in equity/capital accounts is credited.

The journal entry will be

Land A/c    DR. $39,000

Building A/c  DR.$395,000

Donations received A/c  CR.$434,000

Answer:

All the blanks are filled with explanation below.

Explanation:

Solution:

Let's extract the meaning of data from the data given.

Boston produces 3 red socks per worker per hour and 6 white socks per worker per hour

B = 1 worker = 1 hour = produces 3 pairs Red Socks

B = 1 worker = 1 hour = produces 6 pairs white socks

Boston = whites socks in terms of red socks

6 white socks = 3 red socks

white socks = 3/6 red socks

white socks = 0.5 pairs of red socks.

Chicago = white socks in terms of red socks

4 white socks = 5 red socks

white socks = 5/4 red socks

white socks  = 1.25 red socks

C = 1 worker = 1 hour = produces 5 pairs Red socks

C = 1 worker = 1 hour = produces 4 pairs white socks

It means in Boston, we have advantage of producing white socks and in Chicago we have advantage of producing red socks.

Fill in the blanks: (Note: Bold words are blanks filled)

1. The price of pair of white socks (in terms of red socks) in Boston is 0.5 pairs of red socks of red socks, and in Chicago it is 1.25 red socks of red socks.

2.Chicago has an absolute advantage in the production of red socks, and Boston has an absolute advantage in the production of white socks.

3. Chicago has a comparative advantage in the production of red socks, and Boston has a comparative advantage in the production of white socks.

4. If the cities trade with each other, Boston will export white socks, and Chicago will export red socks.

5. The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is 1.25 of red socks per pair of white socks, and the lowest price that makes both cities better off is 0.5 of red socks per pair of white socks.

Not sure what the options for the answer are (if there are any), but an appropriate entry in this box is "common goals," among other answers. Please let me know if you have any questions and provide me with the answer options if there are any.

In Brazil, Chase's strategy is to focus on providing competitive online solutions, moving away from physical banks.  

Answer:

$185,920

Explanation:

Calculation for What is the amount of the operating cash flow

Using this formula

Operating cash flow=(Sales *Profit margin)+Depreciation

Let plug in the formula

Operating cash flow=($982,000*6%)+$127,000

Operating cash flow=$58,920+$127,000

Operating cash flow=$185,920

Therefore the amount of the operating cash flow will be $185,920

Answer:

A consumers place of residence has a large impact on their purchase because of how they live in that area and their community.

Explanation:

Example, if you live in New York City, marketers probably will not target you as much to purchase their four wheeler as they would someone who lives in the country.

Answer:

c: increase in the bargaining power of suppliers of a critical input

Explanation:

Five Forces Framework by Porter's can be regarded as a method involving analysis of competition in a business. It's analysis dream through

industrial organization economics determine forces that are responsible for competitive intensity. The forces are;

✓potential new market entrants

✓number and power of a company's competitive rivals

✓ influence of suppliers, customers,on company's profitability.

It should be noted that Consolidation among fuel providers serving airport facilities is viewed in the five forces model of competition as a increase in the bargaining power of suppliers of a critical input.

Answer:

The depreciation expenses will be "950 and 3610". A further explanation is given below.

Explanation:

The given values are:

Cost,

= $21,500

Salvage value,

= $2,500

Asset's total life,

= $100,000

Now,

The Depreciation rate will be:

= [tex]\frac{ (Cost - Salvage \ value) }{Asset's \ total \ life}[/tex]

On putting the values, we get

= [tex]\frac{ (21500 - 2500) }{100000}[/tex]

= [tex]\frac{19000}{100000}[/tex]

= [tex]0.19[/tex]

So,

For the year 2021, the depreciation expense will be:

= [tex]Depreciation \ Rate\times Actual \ Mileage[/tex]

= [tex]0.19\times 5000[/tex]

= [tex]950[/tex]

For the year 2022, the depreciation expense will be:

= [tex]Depreciation \ Rate\times Actual \ Mileage[/tex]

= [tex]0.19\times 19000[/tex]

= [tex]3610[/tex]

Answer:

I pretty sure it's true

Explanation:

hope this helps

Answer:

Classification of costs as period cost or product cost

a1. Property taxes is 30% period cost

a2. Property taxes is 70% product cost (MOH)

b. Wages and benefits to factory workers = product cost (DL)

c. Depreciation on production equipment = product cost (MOH)

d. Salaries to quality control inspectors in the plant = product cost (MOH)

e. Repairs and maintenance on factory equipment = product cost (MOH)

f. Standard packaging materials = product cost (MOH)

g. Lease payment on administrative headquarters = period cost

h. Telecommunication costs for customer service = period cost

Explanation:

Period costs are fixed costs incurred that relate more to the period in which they are incurred than to the product.  They are not directly related to the product and are treated as expenses.  Product costs, on the other hand, are costs incurred in producing the product.  They may be in the form of direct materials, direct labor, or manufacturing overhead costs.

Answer:

1. Dr Services in process inventory9,900

Cr Service salaries payable9,900

Dr Services in process inventory4,950

Cr Services overhead4,950

2. Dr Cost of services provided14,850

Cr Services in process inventory14,850

Explanation:

1.Preparation of journal entries to record direct labor andthe overhead applied.

Dr Services in process inventory9,900

Cr Service salaries payable9,900

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

Dr Services in process inventory4,950

Cr Services overhead4,950

($9,900 x 50% = $4,950)

2.Preparation of the journal entry to record the cost of services provided.

Dr Cost of services provided14,850

Cr Services in process inventory14,850

($9,900+$4,950=14,850)

[(5 × $500) + (12 × $200) + (100 × $50) = $9,900]

+($9,900 x 50% = $4,950)

Answer:

Explanation:

According to the wage bracket method used for tax withholding in  2016;

For a married individual and a situation whereby the number of withholding allowances claimed is four, no federal taxes have to be withheld since the salary is $930.

Also, the OASDI insurance rate = 6.2%

∴

The wages Table for Dec 31, 2016 is as follows:

Particulars               Calculation                       Total in $

Gross Pay                                                                 930.00

Less:

HSA Contributions                                                     50.00

401(k) deductions                                                     100.00

OASDI   tax         (930 - 100) × 6.2%                          51.46            

HI tax                         as given                                        -

FIT                                                                                    -

Net Pay                                                                      728.54

Answer:

Explanation:

1.Start up business plan

startup businesses draft a business plan for three specific reasons: to articulate their vision for the business, to document how they plan to solve key challenges, and to pitch their business idea to potential investors.

2. Internal Business plan

This document will describe the company's current state, including operational costs and profitability, then calculate if and how the business will repay any capital needed for the project. Internal plans provide information about project marketing, hiring and tech costs.

3. Strategic Business plan

A strategic plan for a business will include the company's mission and vision statement, as well as its goals and objectives and the action plans to achieve them. ... A strategic plan outlines the strategy for growth and success in the future by using existing resources.

4. Feasibility business plan

A feasibility business plan is a study conducted prior to initiating a business plan. Whether you're an established business launching a new product or an individual with a new idea, a feasibility plan is that part of a business plan that will help you and your investors determine if your idea will thrive.

5. Operation business plan

Operational planning is the process of planning strategic goals and objectives to technical goals and objectives.

6. Growth business plan

Business growth plans are short-term outlines for where a company sees itself in the next one to two years. ... A business growth plan is beneficial to a company as a whole, but the main purpose is to write it with investors in mind. Investors want an outline of how your company plans to build sales in the coming months.

Answer:

Swifty Design

1. Income Statement for the year ended December 31, 2020:

Service Revenue                                              $61,710

Salaries and Wages Expense    11,510

Insurance Expense                       966

Interest Expense                           518

Depreciation Expense               7,600

Supplies Expenses                    3,400

Rent Expense                            4,000          $27,994

Net income                                                     $33,716

b) Statement of Retained Earnings for the year ended December 31, 2020:

Retained Earnings, January 1, 2020            $3,710

Net income                                                    33,716

Retained Earnings, December 31, 2020  $37,426

c) Balance Sheet as of December 31, 2020:

Assets

Current assets:

Cash                                            $11,210

Accounts Receivable                   21,710

Supplies                                        5,210

Prepaid Insurance                        2,710

Total current assets                                 $40,840

Long-term assets:

Equipment                                 60,210

Accumulated depreciation       35,210  $25,000

Total assets                                            $65,840

Liabilities + Equity:

Liabilities:

Accounts Payable                                    $5,210

Interest Payable                                            168

Notes Payable                                          5,600

Unearned Service Revenue                     5,810

Salaries and Wages Payable                     1,416

Total liabilities                                      $18,204

Equity:

Common Stock                    $10,210

Retained Earnings                37,426  $47,636

Total liabilities + equity                      $65,840

2. The annual interest would be $518 according to accrual basis of accounting.

3. If the company paid $17,500 in salaries and wages in 2014 (2020), the balance in Salaries and Wages Payable on December 31, 2013(2019) was $7,406.

Explanation:

SWIFTY DESIGN

ADJUSTED TRIAL BALANCE

DECEMBER 31, 2020

                                                       Debit            Credit

Cash                                            $11,210

Accounts Receivable                   21,710

Supplies                                        5,210

Prepaid Insurance                        2,710

Equipment                                 60,210

Accumulated Depreciation-Equipment           $35,210

Accounts Payable                                                 5,210

Interest Payable                                                       168

Notes Payable                                                     5,600

Unearned Service Revenue                                5,810

Salaries and Wages Payable                                1,416

Common Stock                                                  10,210

Retained Earnings                                               3,710

Service Revenue                                                61,710

Salaries and Wages Expense    11,510

Insurance Expense                       966

Interest Expense                           518

Depreciation Expense               7,600

Supplies Expenses                    3,400

Rent Expense                            4,000

Totals                                   $129,044        $129,044

Salaries and Wages:

Wages payable, 12/31/2019 $7,406

Salaries expense                    11,510

Cash paid in 2020                17,500

Wages Payable, 12/31/2020 $1,416

Answer and Explanation:

As per the question, the journal entry for number 2 is as follows:

Accounts Receivable $6000  

       To Sales $6,000

(Being revenue earned is recorded)

Here account receivable is debited as it increased the assets and credited the sales as it increased the revenue

Ye the revenue is earned for $6,000

Answer: b. Start selling the ShipShape using an online direct-from-manufacturer channel

Explanation:

Market penetration strategy is typically used by a company that wants to enter a new market. It is the sale of a product in a particular market.

Since the team has chosen the market penetration strategy, the option that should be recommended to YelloW would be to start selling the ShipShape using an online direct-from-manufacturer channel.

Answer:

Unearned Fees A/c Dr.  $8,370;

Fees Earned A/c  Cr. , $8,370.

Explanation:

The amount of  $33,480  paid is for 36 months.  Subscription per months will be $33,480 divided by 36 months

=$33,480 / 12

=$930

The subscription was paid on April 1st. Between April 1st and December 31st, there were 9 months.

The subscriptions for that year will be

= $930 x 9

=$8,370

The journal entries will be as follow

Unearned Fees A/c Dr.  $8,370;

Fees Earned A/c  Cr. , $8,370.

Answer:

Crystal Industries

NPV = $7,1005.51

The firm should proceed with the expansion because the project will yield a positive net present value.

Explanation:

a) Data and Calculations:

Discount rate = 13.4%

Discount factor  = 1/(1 + r)∧n

Calculation of the Net Present Value:

Years   Cash flows   Discount Factor  Present value  

0           -$325,000     1                          -$325,000.00      

1              $167,500    0.8818                        147,701.50

2             $216,100     0.7776                     168,039.36

3            $104,500     0.7001                        73,160.45

4            -$92,700      0.6174                     -56,800.80

NPV =                                                            $7,100.51

b) Crystal's net present value (NPV) is the difference between the present value of its cash inflows and the present value of its cash outflows over the project's 4 years.  The NPV is usually determined in capital budgeting and investment planning as a financial evaluation tool when analyzing the positivity of a project's cash flows.  It discounts the future cash flows to today's dollar values, taking into consideration the time value of money.

Answer:

D) contingency planning.

Explanation:

from the question we are informed about Ed Flavorman, the chief executive of Flavor Best Ice Cream, who believes that alternativeplans are almost as important as the primary operational plans because the market is so competitive and unpredictable. In this case Ed endorses contingency planning. Contingency planning can be regarded as a type of plan that is been set for an outcome instead of setting it up for usual plan. It is plan that is devices in risk management, and it is usually used by government as well as Businesses