Answer:
the LIFO inventory value at 2014 year end is $1.3 billion
Explanation:
The computation of the LIFO inventory value at 2014 year end is as follows
LIFO inventory value at year-end 2014 is
= FIFO inventory - LIFO reserve
= $2.1 billion - $0.8 billion
= $1.3 billion
Hence, the LIFO inventory value at 2014 year end is $1.3 billion
The same is to be determined by applying the above formula
On April 1, 2021, Shoemaker Corporation realizes that one of its main suppliers is having difficulty meeting delivery schedules, which is hurting Shoemaker's business. The supplier explains that it has a temporary lack of funds that is slowing its production cycle. Shoemaker agrees to lend $450,000 to its supplier using a 12-month, 12% note.
Required:
a. The loan of $450,000 and acceptance of the note receivable on April 1, 2021.
b. The adjustment for accrued interest on December 31, 2021.
c. Cash collection of the note and interest on April 1, 2022.
Record the above transactions for Shoemaker Corporation.
Answer and Explanation:
The journal entries are given below:
1. Notes receivable A/c Dr $450,000
To Cash A/c $450,000
(To record the notes receivable acceptance)
2. Interest receivable A/c Dr $40,500
To Interest revenue $40,500
(to record the interest is collected)
Interest = Principal × rate of interest × number of months ÷ (total number of months in a year)
= $450,000 × 12% × (9 months ÷ 12 months)
= $40,500
The 9 months is calculated from April 1 to December 31
3. Cash A/c Dr $504,000
To Notes receivable A/c $450,000
To Interest receivable A/c $40,500
To Interest revenue A/c $13,500
(To record the cash collected)
Interest revenue = Principal × rate of interest × number of months ÷ (total number of months in a year)
= $450,000 × 12% × (3 months ÷ 12 months)
= $13,500
The 3 months is calculated from December 31 to April 1
What is the first question you should ask yourself when analyzing an
advertisement?
A.what is its intention
B.how much is it
C.when can i buy
D.will my friends like it
A.
because it could be like a baby toy and the first question you ask would be when can i buy it
A business associate has an idea that he claims will double you money that you invest in his business in 7 years. Assuming that he is correct, if you initially invest $29,000 in his business, write the equation that would predict the amount A in your account at time t in years.
Answer:
Explanation:
You invest $29,000 in a friend's business, he claims that this money that you invested will double in 7 years.
A = 29,000 (Starting balance)
C = 2A
Y = One year
C = 7Y
2(29,000) = 7Y
58000 = 7Y
-29,000 (because you initially invested this)
29,000 = 7Y
------------------
7
~4142.86 = Y
Every year that you invest in his business, he claims you will earn around $4142.
Hope that helps.
In choosing between the range of alternative investments typically available to U.S. households, which of the following will play a role in influencing their selection of a particular investment type?
a. the expected rate of return, risk, and liquidity of each kind of investment
b. the interest rate and the expected rate of return
c. whether or not the majority of households are early stage investors
d. the form of dividends, angel investors, future expectations
Answer: B. the interest rate and the expected rate of return
Explanation:
What most firms and Industries look out for when going into a business is the interest rate and the expected return on investment. This is a guide for anyone carrying out a study on any business. If these are not considered it'll be assumed the firm is running a charity organization and would run at a loss sooner or later. What will influence the decision of any investment is the interest rate and the expected rate of return
Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) 9.3% Quarterly % 18.3 Monthly 14.3 Daily 11.3 Infinite
Answer and Explanation:
The formula to calculate the effective annual rates under the following scenarios is as follows:
As we know that
Effective annual rate = (1 + Annual percentage rate ÷ compounding period)^compounding period - 1
1. For Quartely
EAR = (1 + 0.093 ÷ 4)^4 - 1
= 9.63%
2. For monthly
EAR = (1 + 0.183 ÷ 12)^12 - 1
= 19.92%
3. For daily
EAR = (1 + 0.143 ÷ 365)^365 - 1
= 15.37%
4. For daily
EAR = (e)^APR - 1
Here
e = 2.71828
EAR = (2.71828)^0.113 - 1
= 11.96%
At the beginning of the period, the Assembly Department budgeted direct labor of $110,000, direct materials of $170,000, and fixed factory overhead of $28,000 for 8,000 hours of production. The department actually completed 10,000 hours of production. The appropriate total budget for the department, assuming it uses flexible budgeting, is
Answer:
Assembly Department
The appropriate total budget for the department, under flexible budgeting is:
$335,500.
Explanation:
a) Data and Calculations:
Estimated Direct labor = $110,000
Estimated Direct materials = $170,000
Estimated Fixed factory overhead = $28,000
Total budget = $308,000
Estimated Production hours = 8,000
Actual Production hours = 10,000
Based on flexible budget,
The Direct labor = $137,500 ($110,000 * 10,000/8,000)
Direct materials = $170,000
Fixed overhead = $28,000
Total budget = $335,500
Which of the following is NOT a step involved in creating a budget?
Gather financial records
O Track spending
O Expand earning avenues
Balance the budget
Answer:
expand earning avenues
Explanation:
Expand Earning Avenues is not a step involved in creating a budget. Hence, option C is appropriate.
What does it mean to Create a Budget?Creating a Budget is one of the most important things, which signifies that during a particular fiscal year or for a short time, a company, an institute, or something of much more importance does follow a certain type of Budget related behavior.
Creating a Budget is being done for a lot of things including the most important thing is to keep proper track of the proceedings which are being gone on.
Budget creation is done annually in the parliament to produce a lot of things on which the Government will run the country. The other most important factor is the process of combining the percentage of the money which is going to be spent.
Hence, option C is correct.
Learn more about Creating Budgets here:
https://brainly.com/question/18484668
#SPJ2
I Need help ASAP pls
Answer:
THis is hard
Explanation:
good luck
Suppose a food pantry received a donation and allowed volunteers to vote on how the funds were to be spent. Three options were provided, with the donation only covering the cost of one project. The projects included improvements to the building, additional purchases of food, and purchasing a vehicle for food delivery. The majority of volunteers voted for purchasing a vehicle for food delivery with building improvements coming in second. Since only one project could be funded, what is the opportunity cost of the decision to purchase a vehicle
Answer:
improvements to the building
Explanation:
As we know that the opportunity cost is the cost that gives the benefit in the altnernative when the other thing is sacrifice. Now the
As the second best choice is that there should be an improvement in the building so here the opportunity cost related to the purchase of a vehicle is building improvement
Hence, the same is to be considered
Trident Office is considering remodeling the office building it leases to Robert Roberts, CPA. The remodeling costs are estimated at $225,000. If the building is remodeled, Robert Roberts, CPA has agreed to pay an additional $75,000 per year in rent for the next five years. The discount rate is 10 percent. What is the benefit of the remodeling project to Professional Properties
Answer:
$59,309
Explanation:
Years Cash flow PV Factor at 10% Present value of cash flows
0 225,000 1.00000 225,000
1 75,000 0.90909 68,182
2 75,000 0.82645 61,983
3 75,000 0.75131 56,349
4 75,000 0.68301 51,226
5 75,000 0.62092 46,569
Benefit of remodeling project $59,309
Note: Year 0 PV factor = 1/(1+10%)^0 = 1
Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.41 million. The fixed asset qualifies for 100 percent bonus depreciation in the first year. The project is estimated to generate $1,775,000 in annual sales, with costs of $672,000. The project requires an initial investment in net working capital of $380,000, and the fixed asset will have a market value of $375,000 at the end of the project.
a. If the tax rate is 23 percent, what is the project’s Year 0 net cash flowYear 1, Year 2, Year 3? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, e.g., 1,234,567.)
b. If the required return is 9 percent, what is the project's NPV? (Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to two decimal places, e.g., 1,234,567.89.)
Answer and Explanation:
The computation is shown below
Particulars 0 1 2 3
cost of project -$2,410,000
Investment in
working capital $-380,000
sales $1,775,000 $1,775,000 $1,775,000
less: cost -$672,000 -$672,000 -$672,000
less: depreciation -$2,410,000 $0 $0
operating profit -$1,307,000 $1,103,000 $1,103,000
less tax at 23% -$300,610 $253,690 $253,690
after tax profit -$1,006,390 $849,310 $849,310
add depreciation $2,410,000 $0 $0
after tax sale proceeds of machine $288,750
recovery of working capital $380,000
1. Net operating cash flow
-$2,790,000 $1,403,610 $849,310 $1,518,060
present value of net operating cash flow is
= net operating cash flow ÷ (1 + r)^n
r = 9%
-$2,790,000 $1,287,715.6 $714,847.235 $1,172,220.85
2 Net present value = sum of the present value of operating cash flow $384,783.69
Calculate how much you would have in 25 years if you saved $3,000 a year at an annual rate of 9 percent with the company contributing $750 a year. Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole dollar.)Future value $
Answer:
the amount have in 25 years is $317,628
Explanation:
The computation of the amount have in 25 years is shown below:
PMT = Payment saved per year
= $3,000 + $750
= $3,750.00
N = Periods of payment = 25 years
R = Rate = 9%
Now the formula is
FV = (PMT × ((1 + R)^N-1) ÷ (R)
= $3,750 × ((1 + 9%)^25-1) ÷ (9%)
= $317,628
Hence, the amount have in 25 years is $317,628
The Jones are a married couple and have always filed joint tax returns. On May 18, 2017, the couple was assessed with tax deficiencies for the 2015 tax year. The assessment relates to income paid to Mr. Jones which was not reported on the joint return. The couple’s accountant prepared the return. The couple reported $50,000 income for 2015. The amount of the income omitted was $200,000.
Mrs. Jones is a homemaker. She admits that based on their lifestyle she thought the couple's income was approximately $100,000 ($50,000 more than reported). However she had limited access to her husband's financial documents and relied on the accountant. She claims she had no knowledge of the extent of the unreported income and assumed much of their income was non- taxable in nature. You should advise her that she:
a. Under no circumstances will she be responsible for any of the taxes due because an accountant prepared the return.
b. May be able to avoid liability to the extent she had no actual knowledge of the deficiency when filing the return. The burden of proof will be on the IRS.
c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.
d. None of the above.
Answer:
c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.
Explanation:
The doctrine of innocent spouse relief might apply here. Mrs. Jones will have to prove that:
the income that was omitted was earned by her husband, not her.she must prove that when she signed the tax filings, she was not aware of the omission. after examining all the facts surrounding the omission, the IRS must decide that blaming her would not be fair.Auagaa474 Corporation had sales of $491,300 and average operating assets of $289,000 for the past period. What is the margin that Auagaa474 needed to earn in order to achieve an ROI of 27.2%?
Answer: 16%
Explanation:
Margin = Net operating income/ Sales
Net operating income is used in the ROI formula;
ROI = Net operating income/ Average operating assets
27.2% = Net operating income / 289,000
Net operating income = 289,000 * 27.2%
= $78,608
Margin = 78,608/491,300
= 16%
Write a short summary of the tyrant of Syracuse
The only thing a firm can and should do to balance the conflicting demands of being agile in a dynamic environment is to design systems and processes that can identify, assess, and develop technology based opportunities.
a. True
b. False
Answer:
B) false
Explanation:
This is false because the statement from the question is not the only option.
To balance the conflicting demands by firm could be challenging but can be achieved,
✓Look out for the communication needs, then data can as well be turned to information.
✓The only thing a firm can and should do to balance the conflicting demands of being agile in a dynamic environment is to design systems and processes that can identify, assess, and develop technology based opportunities.
What solution did the Populists propose to solve the problem of crop prices not meeting their cost of production
Answer:
In simple words, The populist propose that the money supply in the economy should be increased which will case inflation further resulting in increase in prices of general commodities like crops. In this manner, the farmers will get a suitable price and only the most relevant section of the society will be able to get the crops.
Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $13,162. Franklin's August bank statement shows $14,237 on deposit in the bank. Determine the adjusted cash balance using the following information:
Answer:
$14,837
Explanation:
Calculation for what The adjusted cash balance should be
Bank balance$14,237
Add Deposit in transit$4,500
Less Outstanding checks ($3,900)
Adjusted bank balance$14,837
($14,237+$4,500-$3,900)
Book balance$13,162
Less Bank service fees ($50)
Add Note collected $1,725
Adjusted book balance$14,837
($13,162-$50+$1,725)
Therefore The adjusted cash balance should be:
$14,837
Data for Yipuum207, a large merchandiser, is below:
a. Sales are budgeted at $305,000 for November, $325,000 for December, and $225,000 for January.
b. Collections are expected to be 65% in the month of sale and 35% in the month following the sale.
The cost of goods sold is 80% of sales.
Yipuum207 desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
Other monthly expenses to be paid in cash are $22,600.
Monthly depreciation is $28,500.
Ignore taxes.
(ID#80825)
Assets
Cash $29,000
Accounts receivable 78,000
Merchandise inventory 182,400
Property, plant and equipment, net of $624,000 accumulated depreciation 1,006,000
Total assets $1,295,400
Liabilities and Stockholders' Equity
Accounts payable $241,000
Common stock 742,000
Retained earnings 312,400
Total liabilities and stockholders' equity $1,295,400
Required:
What are the expected cash collections for Yipuum207 in December?
Answer:
$318,000
Explanation
Calculation of expected cash collections in December
Expected cash collections in December = ($305,000*35%) + ($325,000*65%)
Expected cash collections in December = $106,750 + $211,250
Expected cash collections in December = $318,000
So, the expected cash collections for Yipuum207 in December is $318,000
HURRY IM BEING TESTED!!!!!! Which job in the Finance career cluster is ideal for a person with a master’s degree?
Bank Teller
Controller
New Accounts Clerk
Loan Officer
Answer:
D
Explanation:
Any person who has a master's degree in finance can look forward to having a career as a loan officer or a controller.
What is a master's degree?An educational qualification, which is generally pursued by a post-graduate student, after completing graduation, is known as a master's degree.
Hence, it can be stated options B and D holds true regarding a finance cluster master's degree.
Learn more about a master's degree here:
https://brainly.com/question/18897219
#SPJ2
Bonds of Francesca Corporation with a par value of $1,000 sell for $930, mature in five years, and have a 8% annual coupon rate paid semiannually. Do not round intermediate calculations. Round your answers to two decimal places. Calculate:
Answer:
Current yield = 8.60%
Explanation:
Missing question "Calculate the current yield annually"
Current yield = Annual Coupon / Current Price
Annual Coupon = C%*Par = 8%*1000 = $80
Current yield = $80 / $930
Current yield = 0.086022
Current yield = 8.60%
Present and future value tables of $1 at 3% are presented below:N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $11 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 3 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 6 1.19405 0.83748 6.4684 5.41719 6.6625 5.57971 7 1.22987 0.81309 7.6625 6.23028 7.8923 6.41719 8 1.26677 0.78941 8.8923 7.01969 9.1591 7.23028 9 1.30477 0.76642 10.1591 7.78611 10.4639 8.01969 10 1.34392 0.74409 11.4639 8.53020 11.8078 8.78611 11 1.38423 0.72242 12.8078 9.25262 13.1920 9.53020 12 1.42576 0.70138 14.1920 9.95400 14.6178 10.25262 13 1.46853 0.68095 15.6178 10.63496 16.0863 10.95400 14 1.51259 0.66112 17.0863 11.29607 17.5989 11.63496 15 1.55797 0.64186 18.5989 11.93794 19.1569 12.29607 16 1.60471 0.62317 20.1569 12.56110 20.7616 12.93794 Jose wants to cash in his winning lottery ticket. He can either receive twelve, $8,000 annual payments starting today, or he can receive a lump-sum payment now based on a 3% annual interest rate. What would be the lump-sum payment?A. $82,021.B. $77,911.C. $80,300.D. $79,632.
Answer:
A
Explanation:
The lumpsum he would receive can be determined by calculating the present value of the series of cash flows Jose would receive in the first option
Present value can be calculated using a financial calculator
Cash flow each year from year 0 to 11 = $8000
I = 3%
Present value = $82,021
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Randall invested 200,000 in activity A and 100,000 in activity B (both passive) in 1998 at the beginning of 2011 randall’s at-risk amount was 20,000 in A and 15,000 in B activity a had a loss of 25,000 and activity B had income of 30,000 what is the amount of income or loss recognized in 2011 from these activities?
a- 0
b- 5,000 income
c- 10,000 income
d- 25,000 losses
Answer:
c- 10,000 income
Explanation:
The computation of the mount of income or loss recognized in 2011 from these activities is shown below
As in the question it is mentioned that the activity A has $20,000 risk so $20,000 would be allowed. And, there is a passive income of $30,000
So the amount of the income recognzied would be
= $30,000 - $20,000
= $10,000 income
Therefore the correct option is c.
Magnus Inc.'s price is $35 a share, their dividend for last year was $1.90, and the long-term sustainable growth rate is 3.5%. The expected return on the stock is closest to:
Answer:
the expected return on the stock is 8.675%
Explanation:
The computation of the expected return on the stock is shown below:
The Expected return on the stock is
= Current year dividend ÷ Price of the stock + growth rate
= ($1.75 × 1.035) ÷ $35 + 3.5%
= 8.675%
Hence, the expected return on the stock is 8.675%
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Provide an example of a scenario in which a real-world company was subject to cross-cultural risk and provide recommendations on how cultural risk can be mitigated in future.
Answer:
What happens with a cross-cultural risk?
Explanation:
If you were to attract management of an international business, encompassing the cultural variety of the country may or may not bring success. Managers involved in businesses that are international will have to become more sensitive to the challenges originating from the social and ethnic landscape of the countries they work in.
I think you should research a real-world example of a company that received backlash or risk due to attempting to or becoming a cross-cultural company.
The risk severity matrix is divided into red, yellow, and green zones. The green zone represents ________ risk.
Answer:
inconsequential
Explanation:
The risk severity matrix is a way of determining risk factors in an organization that provides a basis for the prioritization which risks to be addressed. The matrix is divided into Red zone, yellow zone and green zone.
The risks that falls in the red zone receive first priority to address the risk and then followed by the yellow zone risks. The Green zone risks are considered inconsequential and not significant and it is generally ignored for the first time unless their status is changed.
American Eagle Outfitters (AEO) recently paid a $0.38 dividend. The dividend is expected to grow at a 15.5 percent rate. At the current stock price of $24.07, what is the return shareholders are expecting
Answer:
17.32%
Explanation:
Calculation for the return shareholders are expecting
Return shareholders=[ (0.38 x 1.155) / 24.07 ] + .155
Return shareholders=0.01823+.155
Return shareholders= .1732 ×100
Return shareholders= 17.32%
Therefore the return shareholders are expecting
will be 17.32%
Assume (1) estimated fixed manufacturing overhead for the coming period of $221,000, (2) estimated variable manufacturing overhead of $2.00 per direct labor hour, (3) actual manufacturing overhead for the period of $320,000, (4) actual direct labor-hours worked of 54,000 hours, and (5) estimated direct labor-hours to be worked in the coming period of 55,000 hours. The pre-determined plantwide overhead rate for the period is closest to:____.A) $5.82.
B) $5.70.
C) $5.93.
D) $5.64.
Answer:
The predetermined plantwide overhead rate for the period is closest to:____.
$6.02
Explanation:
a) Data and Calculations:
Estimated fixed manufacturing overhead = $221,000
Estimated variable manufacturing overhead = $2.00 per DLH
Actual manufacturing overhead for the period = $320,000
Actual direct labor-hours worked = 54,000 hours
Estimated direct labor-hours to be worked in the coming period = 55,000 hours.
Predetermined plantwide overhead rate:
Estimated fixed manufacturing overhead = $221,000
Estimated variable manufacturing overhead = 110,000 ($2.00 * 55,000)
Total estimated manufacturing overhead = $331,000
Predetermined rate = $331,000/55,000 = $6.02 per DLH
Turner, Roth, and Lowe are partners who share income and loss in a 1:4:5 ratio (in percents: Turner, 10%; Roth, 40%; and Lowe, 50%). The partners decide to liquidate the partnership. Immediately before liquidation, the partnership balance sheet shows total assets, $130,800; total liabilities, $82,000; Turner, Capital, $2,900; Roth, Capital, $14,200; and Lowe, Capital, $31,700. Cash received from selling the assets was sufficient to repay all but $30,000 to the creditors. Exercise 12-13 Liquidation of partnership LO P5 Required: a. Calculate the loss from selling the assets. b. Allocate the loss from part a to the partners. c. Determine how much each partner should contribute to the partnership to cover any remaining capital deficiency.
Answer:
Turner, Roth, and Lowe
a. Loss from selling the assets = $78,800
b. Loss allocation to the partners:
Turner Roth Lowe
Loss sharing ($78,800) $7,880 $31,520 $39,400
c. Capital contribution to cover deficiency:
Turner Roth Lowe
Contribution to cover deficiency $3,000 $12,000 $15,000
Explanation:
a) Data and Calculations:
Turner Roth Lowe
Income and loss sharing ratio: 1 4 5
Assets before liquidation = $130,800
Liabilities = $82,000
Capital balances $2,900 $14,200 $31,700
Cash received from sale of assets = $52,000 ($82,000 - $30,000)
Loss from sale of assets = $78,800 ($130,800 - $52,000)
Loss sharing ($78,800) $7,880 $31,520 $39,400
Contribution to cover deficiency $3,000 $12,000 $15,000
Pls help!!! will give brainly!!!!
Carlita studied mechanics in school and has a background in sales. What company in the Transportation and Logistics cluster might be interested in hiring Carlita?
a large port looking for a logistical engineer
a company that makes and sells railway cars looking for a representative
a government agency in need of a safety inspector
a shipping company looking for a warehouse manager
Answer:
A company that makes and sells railway cars looking for a representative.
Explanation:
This answer is exactly what she studied in school and the background she has in sales.
