Problem solving 1:
Ali makes and sells natural soap out of his home. He charges 35 dhs per soap. For each soap he makes, he
must spend 10 dhs. This month he made and sold 50 soaps. What is Ali's total PROFIT?
SOLVE THE PROBLEM AND SHOW THE STEPS HOW YOU CALCULATE THE PROFIT:
WRITE THE FORMULA.

Answer:

1250 dhs

Explanation:

First, find the profit for each soap.

35 - 10 = 25

Since now you know the profit for each soap, and how much soap he sells. you can find out the profit altogether.

50 x 25 = 1250

____________________________________________

Steps explained.

For the first step, since he spends 10 dhs, and charges 35 dhs, find the profit by subtracting 35 and 10.

For the second step, i took 50 times 25 since there is 50 soaps sold and 25 dhs profited.

Problem 2-14 As operations manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report: JAN FEB MAR APR Units produced 2,300 1,800 2,800 3,000 Hours per machine 325 200 400 320 Number of machines 3 5 4 4 Find the average of the monthly productivity figures (units per machine hour). (Do not round intermediate calculations. Round your answer to 2 decimal places.) Average productivity units per machine hour HintsReferenceseBook

This information relates to Sarasota Real Estate Agency.
Oct. 1 Stockholders invest $31,580 in exchange for common stock of the
corporation.
2 Hires an administrative assistant at an annual salary of $33,360.
3 Buys office furniture for $3,650, on account.
6 Sells a house and lot for E. C. Roads; commissions due from Roads,
$11,680 (not paid by Roads at this time).
10 Receives cash of $135 as commission for acting as rental agent renting an
apartment.
27 Pays $610 on account for the office furniture purchased on October 3.
30 Pays the administrative assistant $2,780 in salary for October.
Prepare the debit-credit analysis for each transaction.
Oct. 1 Debits
Debit Cash 31,580
Credits
Credit Common Stock 31,580
Oct. 2 Debits No Effect
Debit No Effect
Credits No Effect
Credit No Effect
Oct. 3 Debits
Debit
Credits
Credit Accounts Payable $3,650
Oct. 6 Debits
Debit Accounts Receivable $11,680
Credits Credit 11,680
Oct. 10 Debits
Debit Cash 135
Credits Credit 135
Oct. 27 Debits
Debit Accounts Payable 610
Credits
Credit Cash 610
Oct. 30 Debits
Debit Salaries and Wages
Expense 2,780
Credits
Credit Cash $2,780

In 2021, Short Construction began construction work under a four-year contract. The contract price is $2,000,000. Short recognizes revenue over time according to percentage of completion method. The balance sheet shows the following accounts at the end of 2021: A/R of $40,000, Construction in Progress of $200,000, Less: Billings on Construction Contract of $170,000. The income statement shows Income on the contract of $30,000 at the end of 2021. What was the total estimated cost of the project at the end 2021?

Knowledge Check 01 A company is in its first month of operations. The company pays total salaries to its employees of $600 per day. For the first four weeks of January (28 days), the company paid its employees $16,800 cash. For the final three days in January, employees earn $1,800 in additional salaries that will not be paid until February 4. What adjusting entry would be made at the end of January? Post the adjusting entry for the scenario provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Income Statement (in Millions of Dollars) Net sales $100.0 Cost of sales 60.0 Selling, general, and administrative expenses 20.0 Other expenses 15.0 Earnings after tax $ 5.0 a. Determine the length of the inventory conversion period. b. Determine the length of the receivables conversion period. •c. Determine the length of the operating cycle. d. Determine the length of the payables deferral period. •e. Determine the length of the cash conversion cycle. f. What is the meaning of the number you calculated in Part e?

If Mainway Toy Company declares a 4-for-1 stock split, the price of the company’s stock after the split, assuming that the total value of the firm’s stock remains the same after the split, will be$380.00 Scorecard Athletics Corp. is one of Mainway’s leading competitors. Scorecard’s market intelligence research team shares Mainway’s plans of announcing a stock split, influencing the distribution policy makers. Consequently, executives at Scorecard decide to offer stock dividends to its shareholders. Scorecard currently has 1,900,000 shares of common stock outstanding. If the firm pays a 7% stock dividend, what will be the total number of shares outstanding after the stock dividend?

Which of the following is the best example of correlation not being the same as causation? A. A company redesigns a production process and afterwards it takes less time to produce products. The company concludes that redesigning processes causes production efficiency gains. B. After a poorly performing quarter, a company sends out coupons in the mail and sees an increase in sales. The company concludes that sending coupons causes sales to increase. C. A company pays sales employees more for each sale and each employee starts selling more goods. The company concludes that paying employees more for a sale causes employees to sell more items. D. During an economic downturn, a company changes its computer policy to only allow purchases of windows-based laptops and see profits go down. The company concludes that windows-based laptops cause profits to go

It's important for the interviewer to know about your biggest professional accomplishment.

True
or
False

On January 1, 2018, the Accounts Receivable and the Allowance for Doubtful Accounts balances of Kendall Company were $40,000 and $1,500 respectively. During the year 2018, the company reported $80,000 of credit sales, and collected $78,200 cash from receivables. The company also wrote off $500 of receivables as uncollectible in 2018. The company estimates that it will be unable to collect 4% of the year-end accounts receivable balance. Determine the amount of bad debts expense to be recognized in the 2018 income statement

Which of the following is a transfer of a case from a lower to a higher level of court?
O Judgment
O Trial
O Breach
O Appeal

Byron Books Inc. recently reported $13 million of net income. Its EBIT was $20.8 million, and its tax rate was 35%. What was its interest expense? (Hint: Write out the headings for an income statement, and fill in the known values. Then divide $13 million of net income by to find the pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.)

Sport Ready produces sport socks. The company has fixed expenses of $110,000 and variable expenses of $1.10 per package. Each package sells for $2.20. The number of packages Sport Ready needed to sell to earn a $24,000 operating income was 121,819 packages (rounded). If Sport Ready can decrease its variable costs to $1.00 per package by increasing its fixed costs to $125,000​, how many packages will it have to sell to generate $24,000 of operating​ income? Is this more or less than​ before? Why? Review Only LOADING... Click the icon to see the Worked Solution. Begin by identifying the formula to compute the sales in units at various levels of operating income using the contribution margin approach. ( Fixed expenses + Operating income ) / Contribution margin per unit = Sales in units ​(Round your answer up to the nearest whole​ unit.) Sport Ready will have to sell 124,167 packages to generate $24,000 of operating income. Is this more or less than​ before? Why? Sport Ready would have to sell 2,348 more packages of socks to earn $24,000 of operating income. The increase in fixed costs was not completely offset by the decrease in variable costs at the prior target profit volume of sales. Therefore, Sport Ready will need to sell more units in order to achieve its target profit level.

Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received your salary of $53,000 and you plan to spend all of it. However, you want to start saving for retirement beginning next year. You have decided that one year from today you will begin depositing 3 percent of your annual salary in an account that will earn 10 percent per year. Your salary will increase at 4 percent per year throughout your career. Required: How much money will you have on the date of your retirement 35 years from today?

Least-Squares Regression [LO5-11] [The following information applies to the questions displayed below.] Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of its car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled:
Month Rental Returns Car Wash Costs
January 2,400 $ 11,000
February 2,500 $ 13,100
March 2,700 $ 11,800
April 3,000 $ 14,300
May 3,600 $ 16,200
June 5,000 $ 23,300
July 5,500 $ 22,200
August 5,500 $ 22,200
September 4,700 $ 22,800
October 4,000 $ 21,100
November 2,200 $ 10,700
December 2,800 $ 14,200
Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.)

Assume that your aunt sold her house on December 31, and to help close the sale she took a second mortgage in the amount of $20,000 as part of the payment. The mortgage has a quoted (or nominal) interest rate of 6%; it calls for payments every 6 months, beginning on June 30, and is to be amortized over 5 years. Now, 1 year later, your aunt must inform the IRS and the person who bought the house about the interest that was included in the two payments made during the year. (This interest will be income to your aunt and a deduction to the buyer of the house.) To the closest cent, what is the total amount of interest that was paid during the first year? Do not round intermediate calculations. Round your answer to the nearest cent.

Which of the following is an example of offshoring? Treat Corp. is a food and beverage manufacturer based in Texas. It decided to move from Houston to Fort Worth in Texas to cut production costs. The IT support services for customers of Mayfair Inc., a U.S. based consumer electronics manufacturer, are based in India. Lin, a Chinese citizen, decides to move to the U.K. after her application for scholarship is accepted by a leading university in London. Fahad, a resident of the UAE, can share his views—data and information—about the country's construction industry with his friends in the U.S. 2.5 points Save Answer QUESTION 21

You are trying to estimate the value of a property that you are interested in buying. The subject property is located at 322 Rock Creek Road in a new suburb at a large metropolitan area. The property is like many others in the area, With three bathrooms, a living room, a den, a large kitchen, and a two car garage. the residence has about 1,800 square feet of air conditioned space and is of traditional design. The property is located on an interior lot with no potential flooding problems. The quiality of construction appears to be about average for the market. The property being purchased was built within the past two years. Three properties ave been chosen as comparable and they also were constructed within the past two years. Comparable properties in the area have the following characteristics:
Comparable I Comparable II Comparable III
Address 123 Clay St. 301 Cherry Lane 119 Avenue X
Sale Price $ 85,000 $ 79,000 $ 75,000
Time of Sale 6 Months ago 7 Months ago 13 Months ago
Design Modern Traditional Traditional
Parking 2-Car Garage 2-Car Garage 1-Car Garage
Location Corner lot Interior Lot Interior Lot
Drainage Good Bellow Average Good
Bedrooms Four Three Two
Baths Two Two Two
Construction Average Average Bellow Average
You have to come to conclusions concerning hat you believe the different attributes f the comparable properties are likely to be worth in the market area. Appreciation in house value in the areas has been very low ver the past eight months, and you think that any properties that have sold within hat period would probably not require adjustments or the ime of sale. However, one of the comparable properties sold over a year ago, and you think it will eequire a $1,500 upward adjustment. You also believe that properties in the area because of a slower rate of runoff fter heavy rains. Properties on corner lots generally sell for a premium of about $1,000. House with the fashionable modern design usually bring about $1,000 more than those that have traditional design characteristics. BEcause three-bedroom homes are considered desirable by buyers in the area, an additional fourth bedroom will generally only add about $1,200 in value to a property. However, properties that can only contain only two bedrooms are rather difficult to sell, and often bring $2,000 less than three-bedroom counterparts when they are sold. Most homes in the area have two-car garage, but when properties have a one-car garage, they usually sell for about $800 less. A two-car open carpot generally reduces the value of the property by a similar ammount, or $800. The inferior construction quality exhibited by comparable III should reduce its value by about $1,500.
a. You plan to complate the sales comparison approach to value and assign and estimate of value to the subject property. Give specific reasons for your choice of value.

Suppose that Xtel currently is selling at $66 per share. You buy 500 shares using $20,000 of your own money, borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 6%. a. What is the percentage increase in the net worth of your brokerage account if the price of Xtel immediately changes to: (i) $69.63; (ii) $66; (iii) $62.37? What is the relationship between your percentage return and the percentage change in the price of Xtel?

Consider the changes that have occurred in a comparatively new industry (e.g., wireless telecommunications, smartphones, video game consoles, online brokerage services, and fitness clubs). Then, address the following questions: • To what extent has the evolution of the industry followed the pattern predicted by the industry life-cycle model? • What do the features of the industry have that have influenced its pattern of evolution? • At what stage of development is the industry today? How is the industry likely to evolve in the future?

When recording transactions into the accounting equation, which of the following statements are correct? (Check all that apply.) Multiple select question. After recording the transaction, total assets will always equal total liabilities plus equity. The accounting equation must always remain in balance. Cash must always equal Equity. Expenses are listed on the right side of the accounting equation and will increase the equity account.

Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and Packing. Assume that records indicate that direct materials, direct labor, and applied factory overhead for the first department, Refining, were $371,000, $142,000, and $98,400, respectively. Also, work in process in the Refining Department at the beginning of the period totaled $29,200, and work in process at the end of the period totaled $28,400.
Required:
a.
(1) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct materials.
(2) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for direct labor.
(3) On September 30, journalize the entry to record the flow of costs into the Refining Department during the period for factory overhead.
b. On September 30, journalize the entry to record the transfer of production costs to the second department, Sifting.
CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Hardin Widget Manufacturing began operations in January 2021. Hardin sells widgets that carry a two-year manufacturer's warranty against defects in workmanship. Hardin's management projects that 2% of the widgets will require repair during the first year of the warranty while approximately 6% will require repair during the second year of the warranty. The widgets sell for $300 each. The average cost to repair a widget is $40. The company sells 65% of the widgets to retail customers who must pay a 6% sales tax. Sales and warranty information for 2021 and 2022 are as follows: 2021: Sold 300 widgets on account; incurred warranty expenditures of $400 for widget repairs. 2022: Sold 400 widgets on account; actual payments for warranty expenditures were $600. Required: 1. Prepare journal entries that summarize the sales and any aspects of the warranty for 2021. 2. Prepare journal entries that summarize the sales and any aspects of the warranty for 2022.

Record each transaction in the​ journal, using the following account​ titles: Cash; Accounts​ Receivable; Office​ Supplies; Prepaid​ Insurance; Land;​ Building; Furniture; Accounts​ Payable; Utilities​ Payable; Notes​ Payable; Common​ Stock; Dividends; Service​ Revenue; Salaries​ Expense; Rent​ Expense; and Utilities Expense. Explanations are not required. ​(Record debits​ first, then credits. Exclude explanations from journal​ entries.) Jan. ​1: Murphy contributed $78,000 cash to the​ business, Terrence Murphy​, Attorney. The business issued common stock to Murphy.

Northern Wood Products is an all-equity firm with 17,100 shares of stock outstanding and a total market value of $356,000. Based on its current capital structure, the firm is expected to have earnings before interest and taxes of $28,000 if the economy is normal, $15,600 if the economy is in a recession, and $40,400 if the economy booms. Ignore taxes. Management is considering issuing $89,200 of debt with an interest rate of 6 percent. If the firm issues the debt, the proceeds will be used to repurchase stock. What will the earnings per share be if the debt is issued and the economy is in a recession?

which presentation is effective individual presentation or group presentation??​

Campbell Corporation, an accrual basis calendar year corporation, had income of $450,000 for financial statement purposes in year 7. This amount included book depreciation of $50,000. The related tax depreciation was $65,000. Further, the financial statements reported $100,000 of municipal bond interest income, an expense of $2,000 for life insurance premiums on the corporation's president, charitable contributions of $5,000, excess capital losses over capital gains of $3,000, income tax penalties of $10,000, state income tax of $40,000, and Federal income tax expense of $175,000. What is the amount of Campbell's taxable income for year 7

Leaders must have the ability to communicate new ideas.

O True

O False

On January 1, 2021, Poplar Fabricators Corporation agreed to grant its employees two weeks of vacation each year, with the stipulation that vacations earned each year can be taken the following year. For the year ended December 31, 2021, Poplar Fabricators’ employees each earned an average of $900 per week. Seven hundred vacation weeks earned in 2021 were not taken during 2021. Required: 1. Prepare the appropriate adjusting entry for vacations earned but not taken in 2021. 2. Suppose that, by the time vacations actually are taken in 2022, salary rates for employees have risen by an average of 5 percent from their 2021 level. Assume all vacation days earned in 2021 are taken in 2022. Also, assume salaries paid in 2022 (not including amounts paid for 2021 vacation days used in 2022) totaled $31 million. Prepare a journal entry that summarizes 2022 salaries and the payment for 2021 vacations taken in 2022. (Note: Do not include in the journal entry any amounts for vacation days earned in 2022).

You have been working at Saxet Consulting for the past year and are expected to complete three client reviews per week. You have been very productive and have been completing two extra reviews per week. At a recent team meeting, you expected to receive praise from the President for this extra work; however, your manager took credit for the extra work and received the praise from the President. What has your manager violated and what is your likely reaction

n October 28, 2013, Mercedes Company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classified as held for sale on December 31, 2013, the end of the company's fiscal year. The division's loss from operations for 2013 was $2,000,000. The division's book value and fair value less cost to sell on December 31 were $3,000,000 and $2,500,000, respectively. What before-tax amount(s) should Mercedes report as loss on discontinued operations in its 2013 income statement?