Answer:
a. costs to purchase
c. shipping costs
d. costs to prepare for sale
Explanation:
Merchandise inventory is a commodity offered for sale. It is the cost of goods that is readily available at hand which is ready for sale From the options; the Merchandise inventory includes: costs to purchase, shipping costs and costs to prepare for sale.
The remaining options are addressed in the income statement.
LNS Corporation generated a minimum tax credit of $100,000 in 2017. LNS has a regular tax liability of $80,000 in 2018. How much of the 2017 minimum tax credit is refundable to LNS in 2018?
Answer:
$10,000
Explanation:
Calculation for How much of the 2017 minimum tax credit is refundable to LNS in 2018
Refundable minimum tax credit=($100,000-$80,000)*50%
Refundable minimum tax credit=$20,000*50%
Refundable minimum tax credit=$10,000
Note that the 50% represent the refund of the minimum tax credit that is still remaining
Therefore How much of the 2017 minimum tax credit is refundable to LNS in 2018 will be $10,000
Coronado Industries is contemplating the replacement of an old machine with a new one. The following information has been gathered:
Old Machine New Machine
Price $400000 $800000
Accumulated Depreciation 120000 -0-
Remaining useful life 10 years -0-
Useful life -0- 10 years
Annual operating costs $320000 $240000
If the old machine is replaced, it can be sold for $32000. The company uses straight-line depreciation with a zero salvage value for all of its assets. The net advantage (disadvantage) of replacing the old machine is:_______
Answer:
$32,000
Explanation:
Net advantage = Annual operating cost
Net advantage = [(Old machine - New machine)*10 life] - New machine cost + Old machine cost
Net advantage = [($320000 - $240000)*10] - $800000 + $32000
Net advantage = [($80000)*10 - $768,000
Net advantage = $800,000 - $768,000
Net advantage = $32,000
So, the net advantage of replacing the old machine is $32,000
Those arguing against being socially responsible might make the claim that costs for social goals are ultimately
higher prices
Which of the following statements accurately describe the phases of a business cycle? Check all that apply.
a. A contraction phase is when an economy exhibits decreasing levels of production and consumption.
b. A period of expansion is when an economy exhibits decreasing levels of production and spending.
c. A trough occurs at the end Of the contraction phase and the beginning of the expansion phase.
d. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.
A contraction period is characterized by the following attributes: businesses that are operating lower productive capacity, __________unemployment, low retail sales, ____________prices and interest rates, a declining stock market, and expectations of _______ business profits.
Contraction periods tend to end with a ______________,while expansion periods tend to end with a ____________
Answer:
Which of the following statements accurately describe the phases of a business cycle? Check all that apply.
a. A contraction phase is when an economy exhibits decreasing levels of production and consumption.
c. A trough occurs at the end Of the contraction phase and the beginning of the expansion phase.
d. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.
A contraction period is characterized by the following attributes: businesses that are operating lower productive capacity, HIGH unemployment, low retail sales, LOWER prices and interest rates, a declining stock market, and expectations of LOWER business profits.
Contraction periods tend to end with a TROUGH, while expansion periods tend to end with a PEAK.
Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 Advertising $ 40,000 Factory supervision $ 36,000 Sales commissions $ 15,000 Depreciation, office equipment $ 4,000 Indirect materials $ 5,000 Depreciation, factory building $ 20,000 Administrative office salaries $ 1,000 Utilities, factory $ 2,500 Direct materials $ 106,000 Insurance, factory $ 10,000 Property taxes, factory $ 7,000 What is the total amount of manufacturing overhead
The manufacturing overhead is calculated by taking all the costs that are incurred directly for the manufacturing process of goods.
Costs incurred are as follows:
Direct labor $90,000
Indirect Material $5,000
Depreciation factory building $20,000
Utilities (Factory) $2,500
Direct Materials $106,000
Factory $,7000
Total Manufacturing Overhead = $230,500
Therefore the answer to the question is $230,500
Learn more at https://brainly.com/question/7870499
Bob's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Bob's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Bob signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Bob's kitchen cannot fit more than four ovens, Bob cannot change the number of ovens he uses in his production of pizzas in the short run.
However, Bob's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Bob lets them know how many workers he needs for each day of the week. In the short run, these workers________ are inputs. inputs, and the ovens are _______ inputs
Answer:
✓VARIABLE input
✓FIXED input
Explanation:
From the question, we are informed about Bob's performance pizza, and how Bob signed a lease obligating him to pay the rent for the four ovens for the next year. We were told that "Bob's kitchen cannot fit more than four ovens" which means the oven is a " Fixed input".
✓✓A fixed input can be regarded as factor of production, resources by an organization/ firms which cannot be altered in short run, because any change will alter the quantity of output that will be produced by the firm. There are alot of firms having several fixed input in short run as regards to production. This could be equipment as well as building.
We were also informed that Bob's decision regarding how many workers to use can vary from week to week because his workers tend to be students. In this case, the workers are the " Variable input"
✓✓variable input can be regarded as factor of production that is not dependent of level of production. It can be changed and this on the basis of how much it is chosen to produce, hence the cost can be changed too. Variable input could be machinery as well as labor
.
Most people recognize that, as a group, consumers are the pivotal participants in the economy, The _____________decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the_______ markets.
Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. ___________in the level of consumer spending is usually credited with causing __________and all benefits or costs that go with it.
Options:
a. selling OR purchasing
b. goods and services OR financial
c. an increase OR stagnation
d. economic decline OR economic growth
e. goods and services OR monetary payments
f. goods and services OR monetary payments
g. inputs OR outputs
h. goods and services OR money
i. sellers OR buyers
j. sellers OR buyers
Answer:
1. purchasing
2. Financial.
3. An increase.
4. Economic growth.
Explanation:
Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets. It focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.
Most people recognize that, as a group, consumers are the pivotal participants in the economy, The purchasing decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the financial markets.
Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. An increase in the level of consumer spending is usually credited with causing economic growth and all benefits or costs that go with it.
Daguio corporation uses direct labor hours in its predetermined overhead rate. at the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year actual direct labor hours for the year were 18,200 hours manufacturing overhead for the year was under applied by 12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to:_____
Answer:
$11.40 per direct labor-hour
Explanation:
Calculation for predetermined overhead rate for the year must have been closest to
First step is to calculate the Manufacturing overhead applied using this formula
Manufacturing overhead applied = Actual overhead - Underapplied overhead
Let plug in the formula
Manufacturing overhead applied=$219,580 - $12,100
Manufacturing overhead applied= $207,480
Now let calculate the Predetermined overhead rate using this formula
Predetermined overhead rate = Estimated total manufacturing overhead / Estimated total amount of the allocation base
Let plug in the formula
Predetermined overhead rate = $207,480 / 18,200 direct labor-hours
Predetermined overhead rate = $11.40 per direct labor-hour
Therefore The predetermined overhead rate for the year must have been closest to:$11.40 per direct labor-hour
Foyle, Inc., had 830,000 shares of common stock issued and outstanding at December 31, 2020. On July 1, 2021, an additional 40,000 shares of common stock were issued for cash. Foyle also had unexercised stock options to purchase 32,000 shares of common stock at $15 per share outstanding at the beginning and end of 2021. The average market price of Foyle's common stock was $20 during 2021. What is the number of shares that should be used in computing diluted earnings per share for the year ended
Answer:
$858,000
Explanation:
Calculation for What is the number of shares that should be used in computing diluted earnings per share for the year ended
Number of shares=830,000 + (40,000 × 6/12) + [32,000 – (32,000 × ($15 ÷ $20)]
Number of shares=830,000 + 20,000+ [32,000 – (32,000 × 0.75)]
Number of shares=830,000 + 20,000+ [32,000 – 24,000]
Number of shares=830,000 + 20,000+ 8,000
Number of shares= 858,000
Therefore the number of shares that should be used in computing diluted earnings per share for the year ended will be 858,000
Hardigree Corporation uses a job-order costing system. Beginning balance in Work in Process $ 36,000 (1) Raw materials purchased on account $207,000 (2) Direct materials requisitioned for use in production $161,000 (3) Indirect materials requisitioned for use in production $ 42,000 (4) Direct labor wages incurred $ 87,000 (5) Indirect labor wages incurred $101,000 (6) Depreciation recorded on factory equipment $ 42,000 (7) Additional manufacturing overhead costs incurred $ 57,000 (8) Manufacturing overhead costs applied to jobs $219,000 (9) Cost of jobs completed and transferred from Work in Process to Finished Goods $403,000 The total amount of manufacturing overhead actually incurred was: Multiple Choice
Answer:
$242,000
Explanation:
Calculation of the total amount of manufacturing overhead actually incurred:
Particulars Amount
Indirect Materials $42,000
Indirect labor $101,000
Depreciation On factory equipment $42,000
Additional Manufacturing Overhead $57,000
Total Manufacturing Overhead incurred $242,000
Domkowski began operations on January 1 of the current year. The company uses a process-costing system, and conversion cost is incurred evenly throughout manufacturing. By January 31, the firm had completed 56,000 units. Which of the following statements is true about the ending work-in-process inventory if equivalent units for conversion cost totaled 59,000 units?
a) There is no ending work-in-process inventory.
b) The ending work-in-process inventory totaled 3,000 physical units.
c) The ending work-in-process inventory of 10,000 physical units was 30% complete.
d) The ending work-in-process inventory of 20,000 physical units was 85% complete.
Answer:
Domkowski
The statement that is true about the ending work-in-process inventory is, if equivalent units for conversion cost totaled 59,000 units:
c) The ending work-in-process inventory of 10,000 physical units was 30% complete.
Explanation:
a) Data and Calculations:
Units started and completed during the current period = 56,000 units
Total equivalent units of production = 59,000 units
Therefore, the ending units inventory = 3,000 (59,000 - 56,000) units.
Since the 3,000 units are equivalent units and still in process, this implies that many more units are attributable to the ending inventory. The nearest explanation is that there are 10,000 units under process and only 30% complete. This results in having 3,000 units (10,000 * 30%) as the ending work-in-process.
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.
a. Issued 28,000 shares of common stock in exchange for $280,000 in cash.
b. Purchased equipment at a cost of $36,000. $9,000 cash was paid and a notes payable to the seller was signed for the balance owed.
c. Purchased inventory on account at a cost of $86,000. The company uses the perpetual inventory system.
d. Credit sales for the month totaled $110,000. The cost of the goods sold was $66,000.
e. Paid $4,000 in rent on the warehouse building for the month of March.
f. Paid $5,800 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. Paid $66,000 on account for the merchandise purchased in 3.
g. Collected $49,500 from customers on account.
h. Recorded depreciation expense of $900 for the month on the equipment.
Required:
Prepare journal entries to record each of the transactions listed above.
Answer:
Wainwright Corporation
Journal Entries:
a. Debit Cash $280,000
Credit Common Stock $280,000
To record the issuance of common stock shares for cash.
b. Debit Equipment $36,000
Credit Cash $9,000
Credit Notes payable $27,000
To record the purchase of equipment.
c. Debit Inventory $86,000
Credit Accounts payable $86,000
To record the purchase of inventory on account.
d. Debit Cost of goods sold $66,000
Credit Inventory $66,000
To record the cost of goods sold.
d. Debit Accounts Receivable $110,000
Credit Sales Revenue $110,000
To record the sale of goods on account.
e. Debit Rent expense $4,000
Credit Cash $4,000
To record the payment of rent for the month.
f. Debit Prepaid Insurance $5,800
Credit Cash $5,800
To record the prepayment of insurance for one year, beginning April 1.
f. Debit Accounts payable $66,000
Credit Cash $66,000
To record the payment on account.
g. Debit Cash $49,500
Credit Accounts Receivable $49,500
To record the collection of cash on account.
h. Debit Depreciation Expense $900
Credit Accumulated Depreciation - Equipment $900
To record the depreciation expense for the month.
Explanation:
Journal entries are used by Wainwright 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. They are also used to record adjustments.
Chiquitica Company currently does not use any debt at all? (it is an? all-equity firm). The firm has 4,000,000 shares selling for $50 per share. Its beta is 0.8, and the current risk-free rate is 2%. The expected market return for the coming year is 12%. Chiquitica Company will sell $40,000,000 in corporate bonds with a $1,000 par value. The bonds have a yield to maturity of 12%. When the bonds are sold, the beta of the company will increase to 1.2. Chiquitica will use the entire proceeds of the bond sale to repurchase an equal dollar amount of its equity (buyback shares). The corporate tax rate is 25%.
Required:
a. What is the WACC of Chiquitica Company before the bond sale?
b. What is the market value of debt after the bond sale?
c. What is the market value of equity after the bond sale?
d. What is the weight for equity in the capital structure (the value E/V) - used to compute the WACC?
e. What is the cost of debt after the bond sale?
f. What is the cost of equity after the bond sale?
g. What is the adjusted WACC of Chiquitica Company after the bond sale?
Answer:
a. WACC of the company before bond sale = Risk Free Rate + Beta * (Market return - Risk Free rate)
= 2% + 0.80 * 10%
= 2% + 0.80*0.1
= 2% + 8%
= 10%
b. Market value of Debt after Bond sales = $40,000,000
c. Market Value of equity = Current Value of Equity + Debt * tax rate - Debt
= 50*4,000,000 + 40000000*25% - 40000000
= 200000000 + 10000000 - 40000000
= $170,000,000
d. Weight of equity = Market value of equity / Total value of equity
= 170000000 / 200000000 + 10000000
= 170000000 / 210000000
= 0.80952381
= 81%
e. Cost of debt after bond sale = YTM * (1 - tax Rate)
= 12% * 0.75
= 0.09
= 9%
f. Cost of equity after bond sale = Risk Free Rate + Beta * (Market return - Risk Free rate)
= 2% + 1.20 * 10%
= 0.02 + 0.12
= 0.14
= 14%
g. Adjusted WACC = weight of debt * Cost of debt + weight of equity * cost of equity
= 19% * 9% + 81% * 14%
= 0.0171 + 0.1134
= 0.1305
= 13.05%
Holly wants to have $200,000 to send a recently born child to college. She sets up a 529 plan and wants to know how much she must invest at the end of the year for the next 18 years if the funds can earn 5 percent. If she can earn 7 percent, how much less will she have to invest each year?
Answer:
The amount Holly will have to invest less each year is $1,226.72.
Explanation:
This can be calculated using the following 3 steps:
Step 1: Calculation of monthly payment at 5% interest rate
This can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity is used as follows:
FV = P_5% * (((1 + r)^n - 1) / r) ................................. (1)
Where,
FV = Future value or the amount Holly wants to have = $200,000
P_5% = Annual investment at 5% = ?
r = Annual interest rate = 5%, or 0.05
n = number of years = 18
Substituting the values into equation (1), we have:
$200,000 = P_5% * (((1 + 0.05)^18 - 1) / 0.05)
$200,000 = P_5% * 28.1323846738217
P_5% = $200,000 / 28.1323846738217
P_5% = $7,109.24
Step 2: Calculation of monthly payment at 7% interest rate
This can be calculated using the formula for calculating the Future Value (FV) of an Ordinary Annuity is used as follows:
FV = P_7% * (((1 + r)^n - 1) / r) ................................. (2)
Where,
FV = Future value or the amount Holly wants to have = $200,000
P_7% = Annual investment at 7% = ?
r = Annual interest rate = 7%, or 0.07
n = number of years = 18
Substituting the values into equation (2), we have:
$200,000 = P_7% * (((1 + 0.07)^18 - 1) / 0.07)
$200,000 = P_7% * 33.9990325104648
P_7% = $200,000 / 33.9990325104648
P_7% = $5,882.52
Step 3: Calculation of the amount Holly will have to invest less each year
Amount to invest less each year = P_5% - P_7%
Amount to invest less each year = $7,109.24 - $5,882.52
Amount to invest less each year = $1,226.72
Therefore, the amount Holly will have to invest less each year is $1,226.72.
Beaver Company purchased land as a factory site for $400,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $42,000 to raze the old buildings and sold salvaged lumber and brick for $6,300. Legal fees of $1,850 were paid for title investigation and drawing the purchase contract. Beaver Company paid $2,200 to an engineering firm for a land survey, and $68,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $1,500, and a liability insurance premium paid during construction was $900. The contractor's charge for construction was $2,740,000. The company paid the contractor in two installments: $1,200,000 at the end of 3 months and $1,540,000 upon completion. Interest costs of $170,000 were incurred to finance the construction.
Instructions:
Determine the cost of the land and the cost of the building as they should be recorded on the books of Beaver Company. Assume that the land survey was for the building.
Answer:
When it comes to capitalizing assets, all expenses that relate to the acquisition and installation of the asset will be capitalized.
Land
= Cost of land + razing cost + Legal fees + Title insurance - Salvaged lumber
= 400,000 + 42,000 + 1,850 + 1,500 - 6,300
= $439,050
Building
= Survey cost + Drawn up factory plans + liability insurance + Construction cost + interest cost
= 2,200 + 68,000 + 900 + 2,740,000 + 170,000
= $2,981,100
How do courts apply traditional jurisdiction concepts to cases involving internet transaction
Answer:
look it
Explanation:
U P
Sheridan Company had these transactions during the current period. June 12 Issued 84,000 shares of $1 par value common stock for cash of $315,000. July 11 Issued 3,400 shares of $102 par value preferred stock for cash at $107 per share. Nov. 28 Purchased 1,350 shares of treasury stock for $8,150.
Prepare the journal entries for the Sheridan Company transactions shown above.
On January 1, Marigold Corp. had 61,700 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred.
Apr. 1 Issued 12,600 additional shares of common stock for $12 per share.
June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30.
July 10 Paid the $1.50 cash dividend.
Dec. 1 Issued 5,600 additional shares of common stock for $11 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31.
(a) Prepare the entries, if any, on each of the three dates that involved dividends.
Answer:
The table is shown below
Explanation:
The table is as follows :
Which of the following relationships between book value and cash received at sale results in a loss on the sale of a long-term depreciable asset?
a. Book value is greater than cash received.
b. The determination of a gain or loss does not involve the book value.
c. Book value is less than cash received.
d. Book value is equal to cash received.
Answer:
a. Book value is greater than cash received.
Explanation:
Book value of an asset is the cost of an asset less accumulated depreciation
Cash received is the price the asset is sold for.
If the asset is sold for less than its book value, it is sold at a loss
If an asset is sold for more than its book value, it is sold at a gain
Producers use market research in order to do what?
O A. Make better investment decisions
O B. Drive other companies out of business
C. Keep the costs of production low
D. Find out what consumers want to buy
Answer:A
Explanation:
What pathway in the Arts av technology a communication cluster does Jason work in
Classify the following topics as relating to microeconomics or macroeconomics.
Topic Microeconomics Macroeconomics
The effect of rent control on the housing market.
The effect of an increase in income tax on national income.
A firm's decision on which production method to use.
The effect of externality on the quantity produced by the market.
A student's decision about how to allocate his time between studying two subjects.
Answer and Explanation:
Microeconomics is the study of the individual regarding the decision related to market demand and supply
While the macroeconomics would deals with the country like gross domestic product, national income etc
Based on this, the classification is as follows:
1. Microeconomics
2. Macroeconomics
3. Microeconomics
4. Microeconomics
5. Microeconomics
Loggers are much___________ likely to supply wood to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed.
a. A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.
b. A single public utilities company is responsible for supplying electricity for an entire state.
c. As a result, the utilities company can set the price of electricity.
Answer:
1. Loggers are much____more____ likely to supply wood to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency.
2. Classification of the sources of market failure in each case:
a. A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.
Negative externalities
b. A single public utilities company is responsible for supplying electricity for an entire state.
Lack of public goods (as a result of the existence of a monopoly)
c. As a result, the utilities company can set the price of electricity.
Abuse of monopolistic powers.
Explanation:
There are many sources of market failure, including positive and negative externalities, environmental concerns, lack of enough public goods, underprovision of merit goods, overprovision of demerit goods, and abuse of monopolistic powers through the imposition of unwholesome prices and restricted supply. For example, smokers in a restaurant impose negative externalities (or costs without compensation) on other restaurant patrons. Monopolies create artificial scarcity of goods and services, intentionally and unintentionally, in order to maximize prices (revenue).
Dodson Company traded in a manual pressing machine for an automated pressing machine and gave $8,000 cash. The old machine cost $93,000 and had a net book value of $71,000. The old machine had a fair market value of $60,000. Which of the following is the correct journal entry to record the exchange?
a. Equipment 68,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000
Equipment 93,000
Cash 8,000
b. Equipment 68,000
Equipment 60,000
Cash 8,000
c. Cash 8,000
Equipment 60,000
Loss on Exchange 11,000
Accumulated Depreciation 22,000
Equipment 101,000
d. Equipment 123,000
Accumulated Depreciation 22,000
Equipment 93,000
Cash 8,000
Answer:
a. Dr Equipment 68,000
Dr Loss on Exchange 11,000
Dr Accumulated Depreciation 22,000
Cr Equipment 93,000
Cr Cash 8,000
Explanation:
Preparation of the correct journal entry to record the exchange
Based on the information given the correct journal entry to record the exchange will be
Dr Equipment 68,000
(60,000+8,000)
Dr Loss on Exchange 11,000
(71,000-60,000)
Dr Accumulated Depreciation 22,000
(93,000-71,000)
Cr Equipment 93,000
Cr Cash 8,000
(Being to record the exchange)
3) Express 420cm as a percentage of 2m.
Answer:
210%
Explanation:
Answer:
[tex]210 \: {\%}[/tex]
Explanation:
2m = 200cm
[tex]\dfrac{420}{200} \cdot 100 {\%} =210 \: {\%}[/tex]
Technician A says wheel runout is usually measured with a dial indicator measuring in .001. Technician B says runout can occur only in the tire, not the wheel or axle. Who is correct?
Answer:
Neither Technician A or B are correct
Explanation:
Wheel runout is a term that involves a vehicle tire that's not perfectly round again. Thus, this will mean that the balance of the tires will be thrown off.
In this wheel runout, it can't be measure with a dial indicator and neither can it occur only in the tire..
Present entries to record the following transactions:
a. Established a petty cash fund of $235.
b. The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c. Increased the petty cash fund to $300.
Answer:
Please see below
Explanation:
a.
Dr Petty cash. $235
Cr Cash $235
b.
Dr Office supplies. $74.5
Dr Miscellaneous Administrator expenses $92.75
Dr Miscellaneous selling expenses $18.60
Dr Cash short and over $6.35
Cr. Cash $192.20
C.
Dr Petty cash $65
Cr. Cash $65
Peach Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000 units in process at month-end, 20% complete. Conversion costs associated with the beginning work-in-process inventory amounted to $231,000, and amounts that relate to the current month totaled $966,000. If conversion is incurred uniformly throughout manufacturing, Peach's equivalent-unit cost is:
Answer:
D. $28.50
Explanation:
The owner of a bicycle repair shop forecasts revenues of $236,000 a year. Variable costs will be $69,000, and rental costs for the shop are $49,000 a year. Depreciation on the repair tools will be $29,000. Prepare an income statement for the shop based on thee estimates. The tax rate is 20%. Calculate the operating cash flow by using dollars in minus dollars out, adjusted accounting profits, after tax operating cash flow.
Answer:
A. $71,200
Bi)$100,200
Bii)$100,200
Biii)$100,200
Explanation:
A. Preparation of an income statement for the shop based on thee estimates
INCOME STATEMENT
Revenues $236,000
Expenses:
Variable costs $69,000
Rental cost $49,000
Depreciation $29,000
Total Expenses $147,000
Tax profit $89,000
($236,000-$147,000)
Less Income Tax (at 20%) $17,800
(20%*$89,000)
Net Income $71,200
($89,000-$17,800)
Therefore Net Income will be $71,200
bi) Calculation for the operating cash flow by using dollars in minus dollars out method
Using this formula
Operating cash flow=Revenue-Cash expenses-Taxes
Let plug in the formula
Operating cash flow=$236,000-($69,000+$49,000)-$17,800
Operating cash flow=$236,000-$118,000-$17,800
Operating cash flow=$100,200
Therefore the operating cash flow by using dollars in minus dollars out method will be $100,200
bii) Calculation of the operating cash flow by using adjusted accounting profits,
Adjusted accounting profit=$71,200+$29,000
Adjusted accounting profits=$100,200
Therefore the operating cash flow by using adjusted accounting profits will be $100,200
biii)Calculate the operating cash flow by using after tax operating cash flow
After tax operating cash flow=[$236,000-($69,000+$49,000)]*(1-0.20)+(0.20*$29,000)
After tax operating cash flow=($236,000-$118,000)*0.80+$5,800
After tax operating cash flow=($118,000*0.80)+$5,800
After tax operating cash flow=$94,400+$5,800
After tax operating cash flow=$100,200
Therefore the operating cash flow by using after tax operating cash flow will be $100,200
Different perspectives on management have been dominant at different times. Place these management perspectives in the order in which they would appear on a timeline of management history. Dominant Management Perspective Timeline Order Management science perspective
A. Humanist perspective
B. Open (collaborative) innovation
C. Contingency view
D. Systems thinking
Answer:
1.) Humanist perspective
2.) Management science perspective
3.) Systems thinking
4.) Contingency view
5.) Open (collaborative) innovation
It should actually be in that order^^^
But u didnt include the Management science perspective in any of the options, so just do this one instead, unless you forgot to put the Management science perspective one.
1.) Humanist perspective (A)
2.) Systems thinking (D)
3.) Contingency view (C)
4.) Open (collaborative) innovation (B)
A, D, C, B
Hope this helped!
Have a supercalifragilisticexpialidocious day!
Cash flow to stockholders must be positive when: both the cash flow to assets and the cash flow to creditors are positive. the net sale of common stock exceeds the amount of dividends paid. no income is distributed but new shares of stock are sold. the dividends paid exceed the net new equity raised. both the cash flow to assets and the cash flow to creditors are negative.
Answer:
The dividends paid exceeded the net new equity raised.
Explanation:
