Answer:
A. Profit sharing of Net income for both the Kate Deleo and Joe Desmond will be same because there is no agreement concerning the distribution of net income.
B. both partners will get 46000 each.
C. 10000 will be distributed to both the partners.
D.
60% of 22000 = 13200 paid to Deleo
40% of 22000 = 8800 paid to Desmond
Explanation:
Following are the independent assumptions
A. There is no agreement concerning the distribution of net income.
B. Each partner is to receive 10% on their original investment, and the remainder divided equally.
C. DeLeo and Desmond are to receive a salary allowance of $35,000 and $45,000 respectively, and the remainder divided equally.
D. Each partner is to receive 10% on their original investment, DeLeo and Desmond are to receive a salary allowance of $30,000 and $40,000 respectively, and the remainder divided as follows: 60% to DeLeo and 40% to Desmond.
Solution:
A. Profit sharing of Net income for both the Kate Deleo and Joe Desmond will be same because there is no agreement concerning the distribution of net income.
B.
Kate Deleo Invested = 50,000
Desmond Invested = 30,000
End of Fiscal Year Net Income = 100,000
10% of Kate Investment = 50,000 x 10% = 5000
10% of Desmond Investment = 30,000 x 10% = 3000
Total investment 10% = 8000
So.
Net Income = 100000 - 8000 = 92000
Divide this 92000 in 2 = 96000/2 = 46000
So, Remaining net income is = 46000 each.
Hence, both partners will get 46000 each.
C.
Salary allowance for Kate Deleo = 35000
Salary allowance for Desmond = 45000
Total Salary Allowance = 80000
Net income at the end of fiscal year = 100000
So, subtract the Total Salary Allowance from 100000 and divide the answer into 2.
Remaining = 100000-80000 = 20000
Remaining amount = 20000/2 = 10000
So,
10000 will be distributed to both the partners.
D.
Kate Deleo Invested = 50,000
Desmond Invested = 30,000
End of Fiscal Year Net Income = 100,000
10% of Kate Investment = 50,000 x 10% = 5000
10% of Desmond Investment = 30,000 x 10% = 3000
Total investment 10% = 8000
Salary allowance for Kate Deleo = 30000
Salary allowance for Desmond = 40000
Total Salary Allowance = 70000
Net Income at the end of fiscal year = 100000
Subtract 8000 and 70000 from the net income.
100000-70000-8000 = 22000
Now, Deleo will get 60% of 22000
and Desmond will get 40% of 22000
60% of 22000 = 13200 paid to Deleo
40% of 22000 = 8800 paid to Desmond
CCC Company’s most recent income statement shows (in thousands of dollars) sales $2,000, interest payments $100, and net income $140. Its most recent balance sheet shows (also in thousands of dollars) total debt financing $800. If the total asset turnover ratio computed from the company’s most recent financial statements was 1.5, what would we compute return on assets (ROA) to be? (Hint: you should use the DuPont method of analysis.) A. 4.7% B. 10.5% C. 26.7% D. 18.7% E. 3.0%
Answer:
B. 10.5%
Explanation:
The computation of the return on assets is shown below:
As we know that
Return on assets = Net income ÷ total assets
where,
Total assets is
Total asset turnover = Sales ÷ Total assets
1.5 = $2,000 ÷ Total assets
So, the total assets is $1,333.33
Now the return on assets is
= $140 ÷ $1,333.33
= 10.5%
Strengths and weaknesses Group of answer choices should be kept confidential. are areas of high and low capability. relate to the external environment. are an outcome of strategic implementation. g
Answer:
are areas of high and low capability
Explanation:
Every company or organization has the strength and weakness. In the given situation the first option represents the strength and weakness. The strength could be in terms of big market share, strong attidtude of the employees, economies of scale
While on the other hand the weakness would be organization is lagging behind its competitor
So the first option is right
A year ago, Kim Altman purchased 160 shares of BLK, Inc. for $20.50 on margin. At that time the margin requirement was 40 percent. If the interest rate on borrowed funds was 12 percent and she sold the stock for $29.00, what is the percentage return on the funds she invested in the stock
Answer:
85.66%
Explanation:
Calculation for what is the percentage return on the funds she invested in the stock
First step is to calculate the Cost of the shares
Cost of the shares=160 × $20.50
Cost of the shares= $3,280
Second step is to calculate the Margin
Margin=$3,280 × 0.4
Margin= $1,312.00
Third step is to calculate the Funds borrowed
Funds borrowed= $3,280-$1,312.00
Funds borrowed= $1,968.00
Fourth Step is to calculate Interest paid
Interest paid=$1,968.00 × 0.12
Interest paid= $236.16
Fifth step is to calculate Profit on the stock
Profit on the stock=$4,640.00 - $3,280
Profit on the stock = $1,360
(160*29=$4,640.00)
Last step is to calculate the Return on the investment
Return on the investment:m= ($1,360.00 - $236.16)/$1,312.00
Return on the investment=$1,123.84/$1312.00
Return on the investment=85.66%
Therefore the percentage return on the funds she invested in the stock is 85.66%
A special project is going to be started by Hally Corporation. Company is considering using stocks of an old raw material in a special project. The special project would require all 230 kilograms of the raw material that are in stock and that originally cost the company $900 in total. If the company were to buy new supplies of this raw material on the open market, it would cost $8.25 per kilogram. However, the company has no other use for this raw material and would sell it at the discounted price of $7.50 per kilogram if it were not used in the special project. The sale of the raw material would involve delivery to the purchaser at a total cost of $50 for all 230 kilograms. What is the relevant cost of the 230 kilograms of the raw material when deciding whether to proceed with the special project?
Answer:
What were wealthy merchants known as in India?What were wealthy merchants known as in India?
What were wealthy merchants known as in India?
Explanation:
What were wealthy merchants known as in India?I miss you so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so so much
Answer:
Explanation:
A special project is going to be started by Hally Corporation. Company is considering using stocks of an old raw material in a special project. The special project would require all 230 kilograms of the raw material that are in stock and that originally cost the company $900 in total. If the company were to buy new supplies of this raw material on the open market, it would cost $8.25 per kilogram. However, the company has no other use for this raw material and would sell it at the discounted price of $7.50 per kilogram if it were not used in the special project. The sale of the raw material would involve delivery to the purchaser at a total cost of $50 for all 230 kilograms. What is the relevant cost of the 230 kilograms of the raw material when deciding whether to proceed with the special project?
Using the midpoint method, calculate the price elasticity of demand for Gondwanaland gosum berries. Explain what this price elasticity of demand means
Answer:
The data of the question is this:
YEAR Gosum Berries Price Per
Demand Barrel
107 700 $70
108 600 $84
Explanation:
The Mid-Point Formula to calculate the Price Elasticity of Demand is:
[ (Q2 - Q1) / (Q2 + Q1) / 2 ] this divided by [ (P2 - P1) / (P2 + P1) / 2 ]
where Q is demand, and P is price
Now, we plug the amounts into the formulas:
[ (600 - 700) / (600 + 700) / 2 ] = -0.038
[ (84 - 70) / (84 + 70) / 2 ] = 0.045
-0.038 / 0.045 = -0.844
Thus, the elasticity of demand for gosum berries, using the midpoint method, is -0.844, however, economists use absolute values for elasticities, so -0.844 becomes 0.844
An elasticity of demand of 0.844, which is less than one, indicates inelastic demand. This means that the quantity demanded for gosum berries falls less in proportion to raises in price.
In order worlds, the coefficient of elasticity of demand measures the price sensitivity of consumer demand for a particular good or service.
Insurance is an example of a(n) _____.
Answer:
a life help and an saver
Explanation:
because if you have insurance you will not need to pay a lot of money if you crash
Logan purchased a rental home and lot for $150,000. Her expenses totaled $5,000. Lots in the area sell for approximately $10,000. What is Logan's basis for depreciation in the house
Answer:
The correct response is "145,000 ".
Explanation:
The given values are:
Purchased cost,
= $150,000
Expenses,
= $5,000
Selling cost,
= $10,000
Now,
Logan's basis for depreciation will be:
= [tex]Purchased \ cost+Expenses-Selling \ cost[/tex]
On putting the values, we get
= [tex]150000+5000-10000[/tex]
= [tex]155000-10000[/tex]
= [tex]145,000[/tex] ($)
XYZ, Inc. is a seller of the good. XYZ sells a unit of the good to a buyer and then pays the tax on that unit to the government. XYZ is left with how much money
Answer: $2
Explanation:
The Supply curve S1 represents the supply before tax. The equilibrium price at this point is therefore $3.
With taxes, the supply curve is S2 and the equilibrium price has now gone up to $5.
The amount that XYZ will be left with after paying the tax is:
= Price after tax - price before tax
= 5 - 3
= $2
a father is planning a savings program to put his daughter through college. his daughter is now 13 years old. she plans to enroll the university in five years from now, and it should take her four years to complete her education. currently, cost per year (for everything - food, clothing - tuition , books, transportation and so forth) is $12,500, but a five percent inflation rate in these costs is forecasted. the daughter recently received $7,500 from her fat her as donation for education, and will be deposited into an account paying 8% compounded annually. the rest of the costs will be met by the money father will deposit in the same account, also earning 8%. father will deposit first saving today and until sh e starts to university, 6 equal deposits. his savings should help cover all university costs and will be totally exhausted after the last year. what is the amount of six equal deposits that will be made by the father?
Answer:
$6,106.39
Explanation:
first we must find out the daughter's total university expenses:
college expenses in 5 years = $12,500 x (1 + 5%)⁵ = $15,953.92
we must find the present value of the college costs:
PV = $15,953.92 + [$15,953.92 x 2.7232 (PV annuity factor, 5%, 3 periods)] = $59,399.63
since the daughter already has $7,500, she will deposit that money and will have $7,500 x (1 + 8%)⁵ = $11,019.96 in 5 years, that means that she is $48,379.67
we now have our future value, the interest rate and the number of periods, we are missing the annuity due contributions:
FV = annual contribution x FV annuity due factor
$48,379.67 = annual contribution x 7.9228 (FV annuity due factor, 8%, 6 periods)
annual contribution = $48,379.67 / 7.9228 = $6,106.39
When purchases of merchandise are made for cash, the transaction may be recorded with the following entry *
Answer:
Dr Merchandise Inventory Cr Cash
Explanation:
Based on the information given in a situation where purchases of merchandise are made for cash the transaction will be recorded in the journal entry by debiting Merchandise Inventory and Crediting Cash reason been that MERCHANDISE are current asset and Secondly merchandise are anticipated to be either sold out, used or turn them into cash within a period of one year, although it sometimes depends on the method of payment in which the merchandise was been paid for , which is why we have to Debit Merchandise Inventory Account and Credit Cash Account.
Hence:
Journal entry
Dr Merchandise Inventory
Cr Cash
There is no benefit to being socially responsible. That is why most Fortune 500 companies ignore CSR programs or have only informal ones in place.
a. True
b. False
Answer:
False.
Explanation:
Corporate social responsibility (CSR) can be defined as a strategic management concept which typically involves socially contributing to the growth and development of the people, community and the world at large. Some examples of CSR programs are building of roads, provision of electricity, water supply, establishing health care centers, awarding scholarships etc.
There is a benefit to being socially responsible. As a matter of fact, most Fortune 500 companies adopt CSR programs because it makes them to be socially conscious of their environment and builds their brand extensively.
what is computer ethics?
Answer:
Computer ethics is a part of practical philosophy concerned with how computing professionals should make decisions regarding professional and social conduct.
Hope you like the answer.
Answer:
Computer ethics is defined as the analysis of the nature and social impact of computer technology and the corresponding formulation and justification of policies for the ethical use of such technology. The typical problem with computer ethics is the policy vacuum that arises from the new capabilities of the technology.
Explanation:
Computer ethics essentially protect individuals online from predation: they prevent breach of privacy, identify theft, interference with work and unlawful use of proprietary software, among other events. Computer ethics govern the behavior of users online, and date back to 1992.
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Irfan runs a small business. His business's total liabilities amount to $200.000. His net profit for the latest accounting period is $50.000. The total
value of all the business assets comes to $600.000. What is the debt to asset ratio in the case of Irfan's business?
The debt to assets ratio of Irfan's business to two decimal places, is ???
percent
Answer:
33.33%
Explanation:
The debt to assets ratio indicates the proposition of a company's assets that have been financed through debt.
the formula for determining this ratio is as follows
Debt to asset ratio = Total debts/total assets x 100
For Cy Ifran, total debts or liabilities =$200,000
total assets = $600,000
Debt to asset ratio =$200,000/ $600,000
=0.33 x 100
=33.33%
The price of milk at the local grocery store is cut by 15%. In response to the price cut, the quantity of milk demanded falls by 5%. The absolute value of the price elasticity of demand for milk is _____, and the price elasticity of demand is
Answer:
the absolute value is -0.33 and it is inelastic
Explanation:
The computation is shown below:
The Absolute value of Price Elasticity of Demand (PED) is
= Percentage Change in Quantity Demanded ÷ Percentage Change in Price
= 0.05 ÷ (-0.15)
= -0.33
Since the price elasticity of demand is less than one so here there is an inelastic demand
Therefore the absolute value is -0.33 and it is inelastic
The absolute value is -0.33 and the price elasticity of demand is inelastic .
"Price Elasticity of Demand"
Price elasticity of demand is the proportion of the rate alter in amount requested of a item to the rate alter in cost. Financial analysts utilize it to get it how supply and request alter when a product's cost changes.Formula :
Absolute value of Price Elasticity of Demand (PED) = Percentage Change in Quantity Demanded ÷ Percentage Change in Price Absolute value of Price Elasticity of Demand (PED)= 0.05 ÷ (-0.15) Absolute value of Price Elasticity of Demand (PED)= -0.33Therefore , the price elasticity of demand is less than one so here there is an inelastic demand.
So, the absolute value is -0.33 and it is inelastic demand.
Learn more about "Demand":
https://brainly.com/question/13380594?referrer=searchResults
Juanita makes $30 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $30 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.
Assume that it takes 15 minutes to travel to the local department store, 30 minutes to travel to the store across town, and 60 minutes to travel to the store in the neighboring city. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars)
Local Department Store ___________________ 114 _________
Across Town ___________________ 86 _________
Neighboring City ____________________ 60 _________
Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit of she buys it from the _____
Answer:
Juanita should purchase the suit at the store across town because the total economic cost will be lowest.
Explanation:
three options:
local store 15 minutes away and a price of $114 across town 30 minutes away and a price of $86 neighboring city 1 hour away and a price of $60Juanita makes $30 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
local store = $114 + [1/4 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $144 across town = $86 + [1/2 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $131 neighboring city = $60 + [1 hour x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $135Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($131)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
The Vaughn Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Vaughn has decided to locate a new factory in the Panama City area. Vaughn will either buy or lease a site depending upon which is more advantageous. The site location committee has narrowed down the available sites to the following three very similar buildings that will meet their needs.
Building A: Purchase for a cash price of $615,000, useful life 28 years.
Building B: Lease for 28 years with annual lease payments of $71,570 being made at the beginning of the year.
Building C: Purchase for $659,900 cash. This building is larger than needed; however, the excess space can be sublet for 28 years at a net annual rental of $6,870. Rental payments will be received at the end of each year. The Vaughn Inc. has no aversion to being a landlord.
Required:
In which building would you recommend that Brubaker Inc. locate, assuming a 12% cost of funds?
Answer:
The new factory should be located in building C.
Explanation:
This can be determined by comparing the present values of the cost of the three buildings and select the one with the lowest.
Building A: Purchase for a cash price of $615,000, useful life 28 years.
Present value of cost of building A = Cost of building A = $615,000
Building B: Lease for 28 years with annual lease payments of $71,570 being made at the beginning of the year.
Since the payments are to be made are the beginning of the year, the present value of the cost of the building can be calculated using the formula for calculating the present value (PV) of annuity due given as follows:
PV of B = P * ((1 - (1 / (1 + r))^n) / r) * (1 + r) .................................. (1)
Where ;
PV of B = Present value of the cost of building B = ?
P = Annual lease payments = $71,570
r = interest rate or cost of funds = 12%, or 0.12
n = number of years = 28
Substituting the values into equation (1) above, we have:
PV of B = $71,570 * ((1 - (1 / (1 + 0.12))^28) / 0.12) * (1 + 0.12)
PV of B = $640,018.55
Present value of the cost of building B = $640,018.55
Building C: Purchase for $659,900 cash. This building is larger than needed; however, the excess space can be sublet for 28 years at a net annual rental of $6,870. Rental payments will be received at the end of each year. The Vaughn Inc. has no aversion to being a landlord.
Cost of building C =$659,900
Since the annual rental from the sublet will be received at the end of each, the present value of the sublet can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV of sublet = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (2)
Where;
PV of sublet = Present value of the annual rental from the sublet = ?
P = Annuity rental from the sublet = $6,870
r = interest rate or cost of funds = 12%, or 0.12
n = number of years = 28
Substituting the values into equation (2) above, we have:
PV of sublet = $6,870 * ((1 - (1 / (1 + 0.12))^28) / 0.12)
PV of sublet = $54,852.98
Present value of the cost of building C = Cost of building C - PV of sublet = $659,900 - $54,852.98 = $605,047.02
Conclusion
From the calculations above, we have the following:
Present value of cost of building A = $615,000
Present value of the cost of building B = $640,018.55
Present value of the cost of building C = $605,047.02
Since $605,047.02 which is the present value of the cost of building C is the lowest, the new factory should be located in building C.
When the economy is in full employment, * 10 points A. unemployment is zero. B. only cyclical unemployment is zero. C. only frictional unemployment is zero. D. the natural rate of unemployment is zero. E. actual unemployment rates exceed the natural rate of unemployment.
Answer:
c
Explanation:
Full employment is when available labour in an economy are efficiently used. When there is full employment, cyclical unemployment is zero. There would still be frictional unemployment.
Frictional unemployment is unemployment that exists between the time a person leaves their current unemployment and get another job.
Identifying the Purpose of the Goal Seek Feature For which task is the Goal Seek feature most helpful? O selecting random values for the result of a formula O identifying calculations that are missing from a function O adjusting a formula to export its result to a separate worksheet O working backward to identify the input values for a specific result
Answer: O working backward to identify the input values for a specific result
Explanation: I got it right
Answer:
D
Explanation:
Explain how, if at all, each of the following transactions generates two entries (a credit and a debit) in the American balance of payments accounts, and describe how each entry would be classified in any of current, financial or capital account:
a. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank.
b. An American buys a share of German stock, paying the seller with a check on an American bank.
c. The Korean government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy Korean currency from its citizens.
d. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check.
e. A California winemaker contributes a case of cabernet sauvignon for a London wine tasting.
f. A U.S.-owned factory in Britain uses local earnings to buy additional machinery.
Answer:
a. An American buys a share of German stock, paying by writing a check on an account with a Swiss bank.
One foreign asset is traded for another, so US financial account is not affectedb. An American buys a share of German stock, paying the seller with a check on an American bank.
US financial account is debited when the stock is purchased and credited when the German bank lends money to a German importer that imports American goods.c. The Korean government carries out an official foreign exchange intervention in which it uses dollars held in an American bank to buy Korean currency from its citizens.
The US financial account is debited when the Korean government uses US dollars to buy Korean currency. It is credited when Korean citizens use the dollars to import American goods.d. A tourist from Detroit buys a meal at an expensive restaurant in Lyons, France, paying with a traveler's check.
The US financial account is debited when the meal is paid. Depending on which bank, French or American, issued the traveler's check, the US financial account will be credited differently. If an American bank issued the traveler's check, the case is similar to (a), but if a French bank issued the traveler's check, the US financial account will be credited when the French bank sells assets to replace the traveler's check.e. A California winemaker contributes a case of cabernet sauvignon for a London wine tasting.
No transaction occurred.f. A U.S.-owned factory in Britain uses local earnings to buy additional machinery.
One foreign asset is traded for another, so US financial account is not affected
Assuming two investments have equal lives, a high discount rate tends to favor Group of answer choices the investment with even cash flow neither investment since they have equal lives the investment with large cash flow early the investment with large cash flow late
Answer:
the investment with large cash flow early
Explanation:
This can be illustrated with an example.
There are 2 investments A and B
The cash flows of A =
Cash flow in year 1 = $50,000
Cash flow in year 2 = 0
Cash flow in year 3 = 0
The cash flows of B =
Cash flow in year 1 = 0
Cash flow in year 2 = 0
Cash flow in year 3 = 50,000
Discount rate for both investment is 40%
Present value of A = $35,714.29
Pesent value for B = $18,221.57
It can be seen that the investment with the higher cash flow early has a higher present value
a+b+c=4
aa+bb+cc=10
aaa+bbb+ccc=22
aaaa+bbbb+cccc=???
Answer:
46
Explanation:
The pattern appear to be the answer multiplied by 2 and adding 2.
i.e., answer to the next raw id answer to the previous answer times 2 plus 2
second raw = (4 x 2) + 2= 10
Third raw = (10 x 2) + 2 = 22
Forth raw = (22 x 2) + 2= 46
the _____ adds up the market prices of final goods and services.
Answer:
Expenditure Approach
Explanation:
The economy continues to descend into chaos. The stock market still moves down after it makes progress forward, and unemployment still hovers around 10%. It is going to be a while before things get better in the United States. Which of the following is the conclusion of this argument?
(1) The economy continues to descend into chaos.
(2) The stock market still moves down after it makes progress forward.
(3) Unemployment still hovers around 10%.
(4) It is going to be a while before things get better in the United states.
Answer:
(4) It is going to be a while before things get better in the United states.
Explanation:
Since in the question it is mentioned that the unemployment would be approx 10% also it remains to be continued into chaos.
So in the case when there is a fall in the economy there are various measures required to be taken such as the introduction of the price control takes by the government it helps to improve the fall that experience in the economy this would take time to return the economy in its normal states
So, the last option is correct
This year, Johnson Mills has annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. The firm paid $700 in dividends, $280 in interest, and has a total tax rate of 21 percent. The firm will add $2,810 to retained earnings. What is the depreciation expense?
Answer:
$3,857
Explanation:
From the above, we do know that;
Revenue - Expenses = Net income
But
Expenses = Revenue - Cost of goods sold - Admin expenses - Depreciation expenses
Also,
Net income tax = Income before taxes × ( 1 - tax rate)
Since we do not know Net income taxes,
Net income - Dividends = Change in retain earnings
Net income = $2,810 + $700
= $3,510
Income before taxes = $3,510 / 0.79
= $4,443
$37,800 - $23,200 - $6,300 - Depreciation expenses = $4,443
Therefore,
Depreciation expenses = $3,857
On january 1, guillen corporation had 95,0000 shares of no par common stock issued and outstanding. The stock has a state value of $5 per share. During the year, the following occurred.
Answer:
Follows are the solution to the given question:
Explanation:
Please find the complete question in the attachment file.
Market capitalization at 30 June: [tex]120000 = 95000+25000[/tex]
Dividends payable on 10 July: [tex]120000[/tex]
Actions omitted by 31 December: [tex]122000 = 95000+25000+2000[/tex]
X Stock Dividends 1.2
Dividend payments payable on 31 December: [tex]146400[/tex]
Total value is given: [tex]266400 =120000+146400[/tex]
The annual net sales for a huge soft drink company were 5.6 billion dollars in 2012 and sales were increasing at a continuous rate of 3.85% per year. Estimate, in billions of dollars, the annual net sales in 2016
Answer: 6.51 billion dollars
Explanation:
From the question, we are informed that the annual net sales for a huge soft drink company were 5.6 billion dollars in 2012 and that sales were increasing at a continuous rate of 3.85% per year.
The annual net sales in 2016 will be:
= 5.6 billion × (1 + 3.85%)^4
= 5.6 billion × (1 + 0.0385)^4
= 5.6 billion × (1.0385)^4
= 5.6 billion × 1.1631
= 6.51 billion dollars
Listed below are current asset items for Lester Company at December 31, 2019. Finished goods inventory $35,000 Cash 22,000 Prepaid expenses 2,000 Accounts receivable 4,000 Short-term investments 25,000 Raw materials inventory 17,000 Work in process inventory 23,000 Supplies 500 Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
Answer:
Current Assets :
Work in process inventory 23,000
Raw materials inventory 17,000
Finished goods inventory 35,000
Supplies 500
Accounts receivable 4,000
Prepaid expenses 2,000
Short-term investments 25,000
Cash 22,000
Total 128,500
Explanation:
Current Assets are always shows in the order of their liquidity in the Balance Sheet. That is the order in which they are quickly be converted into cash within a period of less than 12 months. Start with the Inventories to cash and cash equivalents as shown above.
If the quantity demanded of a good falls by 2% when income rises by 10%, then: Group of answer choices demand is income-elastic. the good is normal. the good is inferior. Both A and C.
Answer:
The good is inferior
Explanation:
For instance, if the income of a consumer increases, his demand for cheap shoes and shirt decreases and the demand for expensive shoes and shirt increases. So, therefore, the cheap shirt and shoes are inferior goods in the instance. So, whenever quantity demanded of a good fall when the income rises, the goods is considered inferior goods.
Timing Technology, Inc. manufactures timing devices. During 20x1, 1,500,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 320,000 units in work in process. These units were 49 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 450,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 20x1. A review of the inventory cost records disclosed the following information:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Required:
Complete the following schedule as of December 31, 20x1, to compute the cost of work-in-process inventory.
Physical Units
Total units to account for 0
Total units to account for 0
Answer:
The cost of work-in-process inventory as of December 31, 20x1 is:
= $368,998.40
Physical units:
For materials = 320,000 units
For conversion = 156,800 units
Explanation:
a) Data and Calculations:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000 1,510,000 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Total costs $3,276,000 $3,313,600
Units started in production 1,510,000 1,510,000 1,510,000
Work in process, December 31, 20x1 320,000 320,000 156,800
Total equivalent units 1,830,000 1,666,800
Costs per equivalent unit $1.79 $1.988
Cost of Ending WIP = $ (320,000 *$1.79 + 156,800*$1.988)
= $57,280 for materials + $311,718.40 for materials
= $368,998.40
b) The weighted average method was used to calculate the equivalent units. With this method, the beginning units of work-in-process are not part of the calculation (only the units started and completed and the ending work-in-process are). However, the costs of the beginning work-in-process form part of the calculation together with the cost of units started and completed during the current period.
Historically, the longer you own a stock, the more you will profit from the investment. True False
