Answer:
Jason has just launched a company. He has supplied
the intermediaries with research regarding his
company’s services.-partnering strategy
arrowRight
Olivia is managing a company where the services have
to be sold by working together with the intermediaries.-empowerment strategy
arrowRight
Peter’s company has set many service standards for the
intermediaries. His company constantly measures these
standards and makes sure they are followed.-control strategy
arrowRight
I do not know if i am right or not but if right plz mark Brainliest! HOPE THIS HELPS <3
Explanation:
Problem 5-3 Future Value and Multiple Cash Flows [LO 1] Wells, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,060 2 1,290 3 1,510 4 2,250 a. If the discount rate is 6 percent, what is the future value of these cash flows in Year 4? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the future value at an interest rate of 14 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the future value at an interest rate of 21 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
a. $6,562.52
b. $7,218.32
c.$7,843.64
Explanation:
The present value of the cash flows would be found first and after, the present value has been determined, the future value would be found
Present value can be calculated using a financial calculator
Cash flow in year 1 = $1,060
Cash flow in year 2 = $1,290
Cash flow in year 3 = 1,510
Cash flow in year 4 = $2,250
Present value when interest rate is 6% = $5,198.131267
Present value when interest rate is 14% = $4,273.825287
Present value when interest rate is 21% = $3,659.117655
Now we find the future value
Future value = present value ( 1 + r)^n
r = interest rate
n = number of years
a. $5,198.131267(1.06)^4 = $6,562.52
b. $4,273.825287(1.14)^4 = $7,218.32
c. $3,659.117655 (1.21)^4 = $7,843.64
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
In Draco Corporation’s first year of business, the following transactions affected its equity accounts. Issued 6,400 shares of $2 par value common stock for $42. It authorized 20,000 shares. Issued 1,600 shares of 12%, $10 par value preferred stock for $47. It authorized 3,000 shares. Reacquired 320 shares of common stock for $54 each. Retained earnings is impacted by reported net income of $74,000 and cash dividends of $27,000. Prepare the stockholders’ equity section of Draco’s balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
$373,720
Explanation:
Preparation of stockholders’ equity section of Draco’s balance sheet as of December 31
DRACO CORPORATION
Stockholders' Equity Section of the Balance Sheet
December 31
Preferred stock- $10 par value $16,000
(1,600*10)
Paid in capital in excess of par- Preferred stock 59,200
[(47-10)*1,600]
Common stock- $2 par value 12,800
(6,400*2)
Paid in capital in excess of par- Common stock 256,000
[(42-2)*6,400]
Retained earnings 47,000
(74,000-27,000)
Less: Treasury stock (17,280)
(320*54)
Total stockholders' equity $373,720
Therefore stockholders’ equity section of Draco’s balance sheet as of December 31 will be $373,720
Fixed costs are _____.
costs that increase regardless of how much of a good or service is produced
costs that stay the same regardless of how much of a good or service is produced
costs that decrease regardless of how much of a good or service is produced
none of the above
Answer:
costs that stay the same regardless of how much of a good or service is produced
Explanation:
In the short run, fixed costs are the expenses that do not change regardless of the output level. In other words, fixed costs remain a constant amount throughout the financial period. Examples of fixed costs include rent, administrative salaries, insurance, and loan repayments. These amounts will be the same irrespective of production levels.
Fixed costs contrast with variable costs that vary depending on the output level.
Big Foot produces sports socks. The company has fixed expenses of $80,000 and variable expenses of $0.80 per package. Each package sells for $1.60. The number of packages Big Foot needed to sell to earn a $24,000 operating income was 130,000 packages. If Big Foot can decrease its variable costs to $0.70 per package by increasing its fixed costs to $95,000, how many packages will it have to sell to generate $24,000 of operating income? Is this more or less than before? Why? 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.) Big Foot will have to sell packages to generate $24,000 of operating income.
Answer:
1. Big Foot will have to sell 132,222 packages to generate $24,000 of operating income
2. The News Sales in units of 132,222 packages is greater than 130,000 packages it had before by 2,222 packages.
3. The reason is that fixed expenses of $80,000 it had before is lower than the New Fixed expenses of $95,000, and also because variable expenses of $0.80 per package it had before is higher than the new variable expenses per package of $0.70.
Explanation:
From the question, we have:
New Fixed expenses = $95,000
New variable expenses per package = $0.70
New operating income to generate = $24,000
Selling price per package = $1.60
New contribution margin per package = Selling price per package - New variable expenses per package = $1.60 - $0.70 = $0.9
News Sales in units = (New Fixed expenses + New Operating income ) / New contribution margin per package ....................(1)
Substituting relevant values into equation (1), we have:
News Sales in units = ($95,000 + $24,000 ) / $0.9 = $119,000 / $0.9 = 132,222 packages
Therefore, we have:
1. Big Foot will have to sell 132,222 packages to generate $24,000 of operating income
2. The News Sales in units of 132,222 packages is greater than 130,000 packages it had before by 2,222 packages.
3. The raason is that fixed expenses of $80,000 it had before is lower than the New Fixed expenses of $95,000, and also because and variable expenses of $0.80 per package it had before is higher than the new variable expenses per package of $0.70.
is when third parties reap the benefit of a good or service for which they did not pay. A Government resource B. Positive externality C Consumer reaction D. Negative externality Please select the best answer from the choices provided OA B OC D
Answer:
B. Positive externality
Explanation:
An externality is a benefit or a detriment to a third party created by the production or consumption of goods or services. A third party is everybody else other than the producer or consumer of a product. An externality is either positive or negative.
A positive externality is when consumption or production creates a benefit to a third party. The third-party does not meet the cost of products but indirectly enjoys its production.
Answer:
B. Positive externality
Explanation:
EDGE 2021
The 2017 balance sheet of Kerber’s Tennis Shop, Inc., showed $500,000 in the common stock account and $3.3 million in the additional paid-in surplus account. The 2018 balance sheet showed $540,000 and $3.5 million in the same two accounts, respectively. If the company paid out $305,000 in cash dividends during 2018, what was the cash flow to stockholders for the year? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Answer:Cash flow for share holders=$65,000
Explanation:
Cash flow for share holders = Dividends paid -Net equity
Dividend paid- [(Common sto end + Additional Paid in Surplus end)]- [(Common beg+APIS beg)]
Dividend paid -{( Ending common stock +Ending paid in capital) -( beginning common stock +beginning paid in capital }
$305,000- ($540,000+$3,500,000)- ($500,000 +$3,300,000)
=$305,000-{(4,040,000)- ($3,800,000}
$305,000 - $240,000
=$65,000
The following data refers to Huron Corporation for the year 20x2.
Sales revenue .......................................................................................$2,105,000
Raw-material Inventory, 12/31/x1 ................................................................ 89,000
Purchases of raw material in 20x2 ............................................................. 731,000
Raw-material inventory, 12/31/x2 ..................................................................59,000
Direct-labor cost incurred ........................................................................... 474,000
Selling and administrative expenses ............................................................269,000
Indirect labor cost Incurred ...........................................................................150,000
Property taxes on factory ................................................................................90,000
Depreciation on factory building ....................................................................125,000
Income tax expense ........................................................................................25,000
Indirect material used ..................................................................................... 45,000
Depreciation on factory equipment ................................................................. 60,000
Insurance on factory and equipment ..............................................................40,000
Utilities for factory ...........................................................................................70,000
Work-In-process Inventory, 12/31/x1 ............................................................... -0-
Work-In-process inventory, 12/3/x2 .................................................................40000
Finished goods inventory, 12/31/xl .................................................................35,000
Finished-goods inventory, 12/31/x2 ................................................................40,000
Applied manufacturing overhead ................................................................. 577,500
Required:
1. Prepare Huronâs schedule of cost of goods manufactured for 20x2.
2. Prepare the companyâs schedule of cost of goods sold for 20x2. The company closes over applied or under applied overhead into Cost of Goods Sold.
3. Prepare the companyâs income statement for 20x2.
Answer:
1. schedule of cost of goods manufactured for 20x2
Beginning Work In Process Inventory $ 0
Direct Materials ($89,000 + $731,000 - $59,000 - $45,000) $716,000
Direct Labor $474,000
Applied manufacturing overhead $577,500
Less Ending Work In Process Inventory ($40,000)
cost of goods manufactured $1,727,500
2. schedule of cost of goods sold for 20x2.
Beginning Finished goods inventory $35,000
Add cost of goods manufactured $1,727,500
Less Ending Finished goods inventory ($40,000)
Cost of Goods Sold $1,722,500
Adjustment :
Less Under-applied Overheads ($2,500)
Adjusted Cost of Goods Sold $1,720,000
3. income statement for 20x2.
Sales revenue $2,105,000
Less Cost of Goods Sold ($1,720,000)
Gross Profit $385,000
Less Expenses :
Selling and administrative expenses ($269,000)
Net Profit Before tax $116,000
Income tax expense ($25,000)
Net Income after tax $91,000
Explanation:
Calculation of Actual Overheads Incurred
Indirect labor $150,000
Property taxes on factory $90,000
Depreciation on factory building $125,000
Indirect material used $45,000
Depreciation on factory equipment $60,000
Insurance on factory and equipment $40,000
Utilities for factory $70,000
Actual Overheads Incurred $580,000
Now,
Where Applied Overheads is $577,500 and Actual Overheads is $580,000, we have an underapplied situation of $2,500 ($580,000 - $577,500).
This under-applied amount is closed off to the cost of goods sold.
1. Computation of the cost of goods manufactured for 20x2
Direct Materials = Beginning Raw-material Inventory + Purchases of raw material - Closing Raw-material inventory - Indirect material used
Direct Materials = $89,000 + $731,000 - $59,000 - $45,000
Direct Materials = $716,000
Particulars Amount
Beginning Work In Process Inventory $0
Add: Direct Materials $716,000
Add: Direct Labor $474,000
Add: Applied manufacturing overhead $577,500
Less: Ending Work In Process Inventory ($40,000)
Cost of goods manufactured $1,727,500
2 .Computation of the cost of goods sold for 20x2
Actual Overheads Incurred = Indirect labor + Property taxes on factory + Depreciation on factory building + Indirect material used + Depreciation on factory equipment + Insurance on factory and equipment + Utilities for factory
Actual Overheads Incurred = $150,000 + $90,000 + $125,000 + $45,000 + $60,000 + $40,000 + $70,000
Actual Overheads Incurred = $580,000
Here, since the Applied Overheads is $577,500 and the Actual Overheads is $580,000, then, we have an under-applied value of $2,500 ($580,000 - $577,500)
Particulars Amount
Beginning Finished goods inventory $35,000
Add: Cost of goods manufactured $1,727,500
Less: Ending Finished goods inventory ($40,000)
Cost of Goods Sold $1,722,500
Adjustment of Cost of Goods Sold
Cost of Goods Sold $1,722,500
Less: Under-applied Overheads ($2,500)
Adjusted Cost of Goods Sold $1,720,000
3. Computation of the income statement for 20x2.
Particulars Amount
Sales revenue $2,105,000
Less: Cost of Goods Sold ($1,720,000
Gross Profit $385,000
Less: Selling and administrative expenses ($269,000)
Net Profit Before tax $116,000
Less: Income tax expense ($25,000)
Net Income after tax $91,000
See similar solution here
brainly.com/question/16676412
Which of the following is a difference between the classical model of decision making and the administrative model of decision making? a. The administrative model assumes that managers settle for a maximizing solution, whereas the classical model assumes that managers settle for a satisficing solution. b. The classical model defines how managers should make decisions, whereas the administrative model defines how managers actually make decisions. c. The classical model is most useful when applied to nonprogrammed decisions, whereas the administrative model is most useful when applied to programmed decisions. d. The administrative model is considered normative, whereas the classical model is considered descriptive.
Answer:
b. The classical model defines how managers should make decisions, whereas the administrative model defines how managers actually make decisions.
Explanation:
The classical model of decision making is a strategic process which assumes that managers (decision makers) are well furnished with large amounts of information and as such are able to practically process the information for decision making.
On the other hand, an administrative model of decision making is a strategic process which assumes that managers (decision makers) are usually rational in their decisions and as such are willing to consider fundamental factors, criteria and a set of alternatives before making their decisions.
Hence, the difference between the classical model of decision making and the administrative model of decision making is that the classical model defines how managers should make decisions, whereas the administrative model defines how managers actually make decisions.
8. The goal of Full Employment provides
as many jobs as possible
more money for economic output
more tax revenue for the government
all of the above
Answer:
all of the above
Explanation:
Full employment is a macroeconomic objective that targets to have all available labor resources employed most efficiently. In a full-employment situation, there is a zero or very low unemployment rate. In reality, a 3 to 4 percent unemployment rate is considered full employment.
some of the benefits of pursuing full employment include
Improved living standards: Employment moves people from zero to at least the minimum income, thereby improving their living standards.Widen tax base: Government can collect more taxes with a larger number of employed people.Increase income: with increased incomes, there is increased consumption in the economy. The multiplier effect of increased spending is more job opportunities and higher earnings.Full employment relieves the government from the burdens of social support.It improves equity in wealth distribution.Which one of the following taxes are NOT a mandatory, or
required deduction from your paycheck?
Federal Income Tax
O Retirement Savings
O State Income Tax
O FICA
State Income Tax can be deducted from paycheck.
State Income Tax are NOT a mandatory, or required deduction from your paycheck. Thus, its C.
What is State Income Tax?The majority of U.S. states also levy a state income tax in addition to the federal income tax that the nation as a whole collects. Several municipal governments also charge an income tax, frequently based on calculations made for the state income tax.
Individuals are subject to income taxes in 42 states and several localities in the US. A ninth state, New Hampshire, levies an income tax on individuals on dividend and investment income but not on other types of income.
Eight states have no state income tax. The income of companies is taxed by 47 states and numerous cities.
A fixed or graduated rate of state income tax is levied on the taxable income of individuals, businesses, and certain charities and trusts. Both the state and entity type tax rates are different.
Learn more about State Income Tax, here
https://brainly.com/question/16180101
#SPJ6
Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1) type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (2) the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.) (1) Type of Adjustment (2) Accounts Before Adjustment (a) Services performed but unbilled totals $600. Select a type of adjustment Select a status of the accounts Select a status of the accounts (b) Store supplies of $160 are on hand. The supplies account shows a $1,900 balance. Select a type of adjustment Select a status of the accounts Select a status of the accounts (c) Utility expenses of $275 are unpaid. Select a type of adjustment Select a status of the accounts Select a status of the accounts (d) Service performed of $490 collected in advance. Select a type of adjustment Select a status of the accounts Select a status of the accounts (e) Salaries of $620 are unpaid. Select a type of adjustment Select a status of the accounts Select a status of the accounts (f) Prepaid insurance totaling $400 has expired. Select a type of adjustment Select a status of the accounts
Answer and Explanation:
The type of adjustment and the status of accounts before the adjustment is shown below:-
Type of adjustment Accounts before adjustment
(a) Accrued revenues Assets understated
Revenues understated
(b) Prepaid expenses Assets overstated
Expenses understated
(c) Accrued expenses Expenses understated
Liabilities overstated
(d) Unearned revenues Revenues understated
Liabilities overstated
(e) Accrued expenses Expenses understated
Liabilities understated
(f) Prepaid expenses Assets overstated
Expenses understated
For the year ended December 31, 2021, Fidelity Engineering reported pretax accounting income of $978,000. Selected information for 2021 from Fidelity’s records follows: Interest income on municipal governmental bonds $ 32,000 Depreciation claimed on the 2021 tax return in excess of depreciation on the income statement 58,000 Carrying amount of depreciable assets in excess of their tax basis at year-end 88,000 Warranty expense reported on the income statement 26,000 Actual warranty expenditures in 2021 10,000 Fidelity's income tax rate is 25%. At January 1, 2021, Fidelity's records indicated balances of zero and $7,500 in its deferred tax asset and deferred tax liability accounts, respectively. Required: 1. Determine the amounts necessary to record income taxes for 2021, and prepare the appropriate journal entry. 2. What is Fidelity’s 2021 net income?
Answer:
1. Income tax payable for 2021 = (Pretax accounting income - Interest income on municipal governmental bonds - Depreciation + (Warranty expense reported - Actual Warranty) ) * Income Tax rate
= (978,000 - 32,000 - 58,000 + (26,000 - 10,000)) * 25%
= $226,000
Income tax expense for 2021 = (Pretax Income - Interest income on municipal governmental bonds) * 25%
= (978,000 - 32,000) * 25%
= $236,500
Deferred tax asset - Warranty
= (Warranty expense reported - Actual Warranty) * Income Tax rate
= (26,000 - 10,000)) * 25%
= $4,000
Deferred Tax liability
= Depreciation * Income Tax rate
= 58,000 * 25%
= $14,500
Journal entry
DR Income Tax Expense $236,500
Deferred Tax Asset $4,000
CR Income Tax Payable $226,000
Differed Tax liability $14.50
2. Net Income
= Pretax Accounting Income - Income tax expense
= 978,000 - 236,500
= $741,500
What are chemical containants
Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows:
E3-5 (Algo) Weighted-Average Method [LO 3-2, 3-3] Beginning Work in Process Ending Work in Process Conversion Conversion
Complete Units Units Complete
Months Untis (percent) Started Transferred out Units Percent
February 1300 46 --- 19400 6600 24 June 4300 75 24100 --- 3800 39September --- 27 25600 25600 2400 60December 2900 35 22400 21100 --- 73 Equivalent UnitsMonth Material Conversion February June September December
Required:
1. Reconcile the number of physical units to find the missing amounts.
2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method.
Answer:
Please see solution below and attached
Explanation:
1. To calculate the number of physical units worked on and the missing figures, we will make use of the formula below;
Beginning inventory + Started = Transferred out + Ending inventory
For February,
1,300 + Started = 19,500 + 6,600
Started = 24,700
For June,
4,300 + 24,100 = Transferred out + 3,800
Transferred out = 24,600
For September,
Beginning inventory + 25,600 = 25,600 + 2,400
Beginning inventory = 2,400
For December,
2,900 + 22,400 = 21,100 + Ending inventory
Ending inventory = 4,200
2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted average method.
• Please find attached detailed solution to question number 2.
explain the characteristics strengths, weaknesses of quantitative
hope it helps...
PLEASE MARK AS BRAINLIEST
You purchased one silver futures contract at $3.15 per ounce. Assume the contract size is 5,000 ounces and there are no transactions costs. What would be your profit or loss at maturity if the silver spot price at that time is $3.34 per ounce
Answer:
$950
Explanation:
In this scenario, the profit or loss would be the difference in price between the selling and buying price of the asset, multiplied by the number owned of that asset. Therefore in this scenario, since you purchased the asset at a price of $3.15 per ounce and would be selling at a price of $3.34 per ounce we need to subtract these values and find the difference, then we multiply by the amount of the asset which is 5,000 ounces to find the loss or profit.
$3.34 - $3.15 = $0.19
$0.19 * 5000 = $950
Finally, we see that you made a profit of $950
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 50% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:
Answer:
The correct answer is "$87,750".
Explanation:
In process inventory, the overall cost allocated to the final job would be:
⇒ [tex]Sum \ of \ material +labour \ material[/tex]
⇒ [tex]18000 \ units[/tex]
The unit of ending were 100%
⇒ [tex]2.75 = 45,500[/tex] ($)
Labor = [tex]18000\times 50 \ percent \times 4.25[/tex]
= [tex]38,250[/tex] ($)
In process inventory, the overall cost allocated to the final job would be:
⇒ [tex]Material+Labor[/tex]
⇒ [tex]49,500+38,250[/tex]
⇒ [tex]87,750[/tex] ($)
You are considering investing in a zero-coupon bond that will pay you its face value of $1,000 in eight years. If the bond is currently selling for $540.27, then the internal rate of return (IRR) for investing in this bond is closest to:
A. 7.0%
B. 8.0%
C. 9.1%
D. 10.2%
ohnstone Company is facing several decisions regarding investing and financing activities. Address each decision independently. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. On June 30, 2021, the Johnstone Company purchased equipment from Genovese Corp. Johnstone agreed to pay Genovese $10,000 on the purchase date and the balance in five annual installments of $8,000 on each June 30 beginning June 30, 2022. Assuming that an interest rate of 10% properly reflects the time value of money in this situation, at what amount should Johnstone value the equipment
Answer:
Johnstone should value the equipment at $40,326.29.
Explanation:
To determine this, the present value of the five annual installments of $8,000 is first calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value of the five annual installments =?
P = Annual payment = $8,000
r = interest rate = 10%, or 0.10
n = number of years = 5
Substitute the values into equation (1) to have:
PV = $8,000 * ((1 - (1 / (1 + 0.10))^5) / 0.10)
PV = $8,000 * 3.79078676940845
PV = $30,326.29
Therefore, the present value of the five annual installments of $8,000 is approximately $30,326.29.
As result of this:
Value the equipment = Payment on the purchase day + present value of the five annual installments = $10,000 + $30,326.29 = $40,326.29
Therefore, Johnstone should value the equipment at $40,326.29.
Where do employees on the travel and tourism industry come from?
Answer:
There are six major components of tourism, each with their own sub-components. These are: tourist boards, travel services, accommodation services, conferences and events, attractions and tourism services. Below, I will explain what each of the components offer to the tourism industry and provide some relevant examples.
Explanation:
There are six components of tourism, each with its sub-components are:
First Tourist boards,
Second Travel services,
Third Accommodation services,
Fourth Conferences, and
Fifth Events,
Sixth, Attractions and also tourism services.
What is the Travel and tourism industry?
The tourism industry also understood as the travel industry is related to the idea of people traveling to different locations, either domestically or internationally, for leisure, social or business purposes. It provides heritage, business, sports, tourism, cultural, and medical. The main objective of this sector is to develop and promote tourism, maintain the competitiveness of India as a tourist destination and improve and expand existing tourism products to ensure employment generation and economic growth. In this province, we provide details about various tourist destinations, modes of travel, accommodation, and also approved travel agents.
Find more information about Travel and tourism industry here:
https://brainly.com/question/26572271
Given that the price per microprocessor in the above function equals $5.60 and that the software component consists of 1,200 lines-of-code at $120/line-of-code, determine the difference in cost-per-unit (unit is all the hardware and software required to implement the function) to support each of the three forms of fault tolerance. Note that if multiple microprocessors are used, they still may use the same software. Furthermore, assume that the company is planning to sell 100,000 units.
Answer and Explanation:
Please find attached answer and explanation
Hughes purchased a new Lincoln Continental automobile from Al Greene Inc., an authorized new car dealership. On the day of the sale, Hughes made a cash down payment and signed a purchase contract and an application for the title certificate. The understanding was that Hughes would take immediate possession of the car and return in a few days for new-car preparation and the installation of a CB radio. On the way home from the dealer, Hughes wrecked the car. The certificate of title had not yet been issued by the state. The buyer, Hughes, claimed that title had not yet passed because the title certificate had not yet been issued. Who must bear the loss? [Hughes v. Al Greene, Inc., 418 N.E.2d 1355 (Ohio) ]
Answer:
This is an old case that dates back to 1977, and it went all the way up to the Supreme Court of Ohio.
Hughes had already lost in the first trial and the Court of Appeals, and finally the Ohio's Supreme Court also ruled against her.
Basically, Hughes bears the risk of loss (and subsequent loss) because she had already signed a contract and had taken possession of the car, even though the title certificate had not been handed out. You must also remember that the loss was the result of a car accident suffered by Hughes, not because the car was defective in any way.
The Aggie Graphics Company was organized on January 1, 2017.The trial balance before adjustment at December 31, 2017 contained the following account balances:Cash $9,500 Accounts Receivable 4,000 Prepaid Insurance 1,800 Equipment 45,000 Accumulated Depreciation 4,500Accounts Payable 3,500Notes Payable 18,000Common Stock 5,000Retained Earnings 12,000Dividend 2,000 Graphic Fees Earned 52,100Consulting Fees Earned 5,000Salaries Expense 30,000 Supplies Expense 2,700 Advertising Expense 1,900 Rent Expense 1,500 Utilities Expense 1,700 $100,100 $100,100Analysis reveals the following additional data: (Assume the books are only closed at year end)(A) The $2,700 balance in Supplies Expense represents supplies purchased in January. At December 31, there was $1,200 of supplies on hand.(B) The note payable was issued on September 1. It is a 3% 6-month note.(C) The balance in Prepaid Insurance is the premium paid on a one-year policy, dated March 1, 2017.(D) Consulting Fees are credited to revenue when received. At December 31, consulting fees of $1,000 contracted for January, 2017 have yet to be performed.(E) The equipment was purchased on January 1, 2017. It has a 10-year useful life and no salvage value.The entry to record (A) above would include a debit to: (Assume the company is only making one adjusting entry to record this information)A. Supplies for $1,500B. Supplies for $1,200C. Supply Expense for $1,200D. Prepaid Supply Expense for $2,7001 points QUESTION 2What is the balance in the interest payable account after adjustment?A. $ 45B. $180C. $90D. $2701 points QUESTION 3The correct entry to record (E) above is:A. Depreciation Expense 4,500Accumulated Depreciation 4,500B. Depreciation Expense 9,000Accumulated Depreciation 9,000C. Depreciation Expense 9,000Equipment 9,000D. Depreciation Expense 9,000Accumulated Depreciation 4,500Equipment 4,500
Answer: 1. B. Supplies for $1,200
2. $180
3. A. Depreciation Expense 4,500
Accumulated Depreciation 4,500.
Explanation:
• 1: The entry to record (A) above would include a debit to supplies for $1,200. It should be noted that all the supplies that were recorded by the company in January were recorded as supply expenses and supplied in hand were $1200 as at December 31st. This will be shown in the balance sheet as the supplies expenses will be reduced by $1200 which means supplies will be debited.
•2: The balance in the interest payable account after adjustment will be:
= $18,000 × 3% × 4/12
= $18000 × 0.03 × 1/3
= 180
Note that 4months out of 12 months was used as notes were issued on September 1 which is 4 months till December.
• 3: The correct entry to record (E) above is:
A. Depreciation Expense 4,500
Accumulated Depreciation 4,500
Olivia enjoys watching little birds at the many feeders in her yard. She counts how many of them she can see in her yard every morning before she leaves for school. Her data for two weeks can be seen below. Day Sun Mon Tue Wed Thu Fri Sat Week 1 31 36 24 34 45 27 41 Week 2 16 34 20 18 25 38 31 What is the mean of the number of little birds that Olivia sees in her yard each morning? Round to the nearest bird, if necessary.
a. 34
b. 31
c. 30
d. 26
Answer:
C.30
Explanation:
Add all of the numbers together, then divide by 14 (how many pieces of data there are).
The median is the middle value in a set of data.
What is the meaning of Median?The midway number in a set of data is known as the median. The data should first be arranged and ranked from smallest to greatest. Divide the total number of observations by two to get the midway value. The value in that location is the median if there are an odd number of observations; otherwise, round the number up.
The median is the value that divides a data sample, a population, or a probability distribution's upper and lower halves in statistics and probability theory. It could be referred to as "the middle" value for a data set.
A data set's median value is the point where 50% of the data points have a value that is smaller than or equal to the median.
Learn more about the Median here:
https://brainly.com/question/28060453
#SPJ1
True or False: The term “academic training” refers primarily to formal classes taken in school.
Answer:
False
Explanation:
Bill Darby started Darby Company on January 1, Year 1. The company experienced the following events during its first year of operation: Earned $16,200 of cash revenue. Borrowed $12,000 cash from the bank. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 8 percent annual interest rate. Required a. What is the amount of interest payable at December 31, Year 1? b. What is the amount of interest expense in Year 1? c. What is the amount of interest paid in Year 1? d. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (I) or decreases (D) each element of the financial statements. In the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA) or financing activities (FA). Columns for events that have no effect on any of the elements should be left blank. The first transaction has been recorded as an example.
Answer:
Please see below and attached
Explanation:
a. What is the amount of interest payable at December 31, year 1
= $12,000 × 8% × 4/12
= $320
b. What is the amount of interest expense in year 1.
= $12,000 × 8% × 4/12
= $320
c. What is the amount of interest paid in year 1.
The amount of cash paid for interest is $0. This is because it will be made at the time of maturity in year 2.
D. Use a horizontal statements model to show how each event affects the balance sheet, income statement and statement of cash flows.
• Please find attached solution to this question.
The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials . $15,000
Indirect labor . 130,000
Property taxes, factory .8,000
Utilities, factory .70,000
Depreciation, factory .240,000
Insurance, factory .10,000
Total actual manufacturing overhead costs incurred $473,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) - $400,000
Direct labor costs - $60,000
Inventories:
Raw materials, beginning - $20,000
Raw materials, ending - $30,000
Work in process, beginning - $40,000
Work in process, ending - $70,000
Manufacturing Overhead
Actual Overhead Applied Overhead
$473,000 $485,000
$12,000 was overapplied
HELP WITH THIS:
Prepare a schedule of cost of goods manufactured for the year.
Answer:
cost of goods manufactured= $890,000
Explanation:
Giving the following information:
Applied Overhead= $485,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) - $400,000
Direct labor costs - $60,000
Inventories:
Raw materials, beginning - $20,000
Raw materials, ending - $30,000
Work in process, beginning - $40,000
Work in process, ending - $70,000
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 20,000 + (400,000 - 15,000) - 30,000
Direct material used= 375,000
I deduct the indirect material included in manufacturing overhead.
cost of goods manufactured= 40,000 + 375,000 + 60,000 + 485,000 - 70,000
cost of goods manufactured= $890,000
In an effort to decrease the amount of industrial waste generated during production, Cerise wanted her company to use a new machine designed by one of the employees. She felt that the new machine could also bring down the company's costs. She tried to convince her supervisor and higher authorities to provide the resources needed to build and install the machine on a large scale. Cerise's role is that of a(n)
Answer:
C. product champion.
Explanation:
These are The options for the question
A. executive champion.
B. category captain.
C. product champion.
D. technical innovator.
We are told about an effort to decrease the amount of industrial waste generated during production,
and how Cerisee wanted her company to use a new machine designed by one of the employees. She felt that the new machine could also bring down the company's costs. She tried to convince her supervisor and higher authorities to provide the resources needed to build and install the machine on a large scale.
In this case , the Cerise's role is that of a product champion. product champion in an organization can be attributed to new product development in systematic approach as well as innovation. They gear up investors in investing or individual/firms to make decisions in selling as well as promotion of products.
Which type of manager is responsible for production and quality control?
Rockeagle Corporation began fiscal year 2018 with the following balances in its inventory accounts:Raw Materials $ 30,000 Work in Process 45,000 Finished Goods 14,000 During the accounting period, Rockeagle purchased $125,000 of raw materials and issued $124,000 of materials to the production department. Direct labor costs for the period amounted to $162,000, and manufacturing overhead of $24,000 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $306,000 to produce were completed and transferred to Finished Goods Inventory. Goods costing $301,000 were sold for $400,000 during the period. Selling and administrative expenses amounted to $36,000.Required:1. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet.2. Prepare a schedule of cost of goods manufactured and sold and an income statement.
Answer:
Raw material Inventory
Beginning balance 30000
Add: Purchase 125000
Less: Issue to production -124000
Ending balance of RM 31000
WIP Inventory
Beginning Inventory of Wip 45000
Add: Current cost of manufacturing
Material issued 124000
Direct wages 162000
OH applied 24000
Total current cost of production 310000
Total cost of goods manufacturing 355000
Less: Cost of goods manufactured 306000
WIP ending inventory 49000
Finished Goods inventory
Beginning Inventory of FG 14000
Add: Cost of goods manufactured 306000
Cost of goods available for sale 320000
Less: Cost of good sold 301000
Ending inventory of FG 19000
Schedule of Cost of goods manufactured
Beginning Inventory of Rm 30000
AdD: Purchase 125000
RM available 155000
Less: Ending inventory -31000
Raw material issued 124000
Labour cost 162000
OH applied 24000
Total Manufacturing cost 310000
Add: Beginning inventory of Wip 45000
Total WIP inventory 355000
Less: Ending inventory of WIP 49000
Cost of goods manufactured 306000
Add: Beginning Inventory of FG 14000
Total cost of goods available for sale 320000
Less: Ending inventory of FG 19000
Cost of good sold 301000
Income Statement
Sales revenue 400000
Less: Cost of goods sold 301000
Gross Margin 99000
Less: Selling and admin expense 36000
Net Operating income 63000
