Answer:
Cash Deficiency = - $11000
Explanation:
To calculate the deficiency of cash at the end of April, we must first calculate the Cash receipts for the month of April and add them to the available cash balance at start of the month and then deduct the cash payments for the month. In this way we can calculate the ending balance for April. Later we can calculate the cash deficiency at the end of April by comparing the actual cash balance at the end of April with the desired cash balance,
Ending Balance = Opening Cash Balance + Cash Receipts - Cash Payments
Ending Balance - April= 11000 + 43000 - [10000 + 20000 + 20000 + 5000]
Ending Balance = - $1000
The Cash Deficiency before finance is,
Cash Deficiency = Actual Balance - Desired Balance
Cash Deficiency = -1000 - 10000
Cash Deficiency = - $11000
It is important to remember that when calculating the ending cash balance, we will not consider Patent amortization expense as it is a non cash expense.
Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. During the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. Cement Company uses the LIFO method to account for inventory. What is the correct journal entry to record cost of goods sold at the end of the first quarter
Answer:
Calculation of Cost of Goods sold under LIFO:
For 3,000 units (3000*40) $120,000
For 400 units (400*25) $10,000
Add: Excess of replacement cost over historical $8,000
cost of LIFO liquidation (400*(45-25))
Cost of Goods sold under LIFO $138,000
Journal entry
Date Account Titles and Explanation Debit Credit
Cost of Goods sold $138,000
Inventory (120000+10000) $130,000
Excess of replacement cost over $8,000
historical cost of LIFO liquidation
The following trial balance was drawn from the records of Havel Company as of October 1, year 2. Cash$16,000 Accounts receivable 60,000 Inventory 40,000 Store equipment 200,000 Accumulated depreciation $76,800 Accounts payable 72,000 Line of credit loan 100,000 Common stock 50,000 Retained earnings 17,200 Totals$316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.)
Question Completion:
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.
Answer:
Havel Company
Havel may need to borrow money to be able to repay the Line of credit loan, pay salaries, and other office expenses, including interest on the line of credit loan.
Explanation:
a) Data and Calculations:
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable 60,000
Inventory 40,000
Store equipment 200,000
Accumulated depreciation $76,800
Accounts payable 72,000
Line of credit loan 100,000
Common stock 50,000
Retained earnings 17,200
Totals $316,000 $316,000
Expected sales in October = $180,000
Cash sales = $40,000
Credit sales = $140,000
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts
Cash sales 40,000
Accounts receivable 72,000
Total cash available $128,000
Cash payments:
Accounts payable 72,000
Line of credit repayment 100,000
Total payments $172,000
Ending cash balance ($44,000)
Please see the concluding part of the question as it is incomplete.
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.Answer
The company (Havel) would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable $60,000
Inventory $40,000
Store equipment $200,000
Accumulated depreciation $76,800
Accounts payable $72,000
Line of credit loan $100,000
Common stock $50,000
Retained earnings $17,200
Totals $316,000 $316,000
We know that;
Expected sales in October = $180,000 which is gotten by adding
Cash sales = $40,000
Credit sales = $140,000
Also,
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts;
Cash sales $40,000
Accounts receivable $72,000
Total cash available $128,000
Cash payments;
Accounts payable $72,000
Line of credit repayment $100,000
Total payments $172,000
Ending cash balance ($44,000)
It therefore means Havel would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
You charge $500 on each of your two credit cards.
One is American Express with an interest rate of 15.99%.
The other is Chase Sapphire with an interest rate of
20.99%. Assuming that you are only making the minimum
payment of $25 to each of the credit card companies,
which card will you pay off first
It is advisable to pay off the Chase Sapphire card first to minimize the overall interest paid.
To determine which credit card to pay off first, we need to consider the interest rates and the minimum payment amounts. Let's calculate the interest accrued on each card and compare the total amounts.
For the American Express card with a balance of $500 and an interest rate of 15.99%, the interest accrued per month would be (15.99/100) * (500) = $79.95. With a minimum payment of $25, the remaining balance after the payment would be $500 - $25 = $475.
For the Chase Sapphire card with a balance of $500 and an interest rate of 20.99%, the interest accrued per month would be (20.99/100) * (500) = $104.95. After making the minimum payment of $25, the remaining balance would be $500 - $25 = $475.
Comparing the two cards, we see that the interest accrued on the Chase Sapphire card is higher ($104.95) compared to the American Express card ($79.95). Therefore, it is advisable to pay off the Chase Sapphire card first to minimize the overall interest paid.
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18. You've arrived at the Pecan Shellers conference - your first networking opportunity.
Naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've
decided to
A. square your shoulders before entering the room.
B. speak a little louder than you would normally.
C. talk on your cell phone as you walk around.
D. hold an empowered image of yourself in your mind.
When a person is feeling nervous in this case, to avoid seeming insecure or uncertain, you've decided to square your shoulders before entering the room.
How do you describe a person who is uncertain?A person who is uncertain is said to be one who is said to be capricious; and also unstable.
This is a kind of person that is not sure of their opinions. and so they are ambiguous. In the case above, the right thing to do is option A.
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Answer:
D. hold an empowered image of yourself in your mind
Explanation:
Dr. Norma Carr-Ruffino, a professor of management at San Francisco State University, suggests that you prepare yourself mentally before you enter the room. Imagine new relationships forming on the basis of shared goals, mutual respect, successful communication, and connections that empower you.
Chelsea is a dispatcher who answers calls from patients with medical emergencies
and assigns medical personnel to address patient needs. What education would
Chelsea most likely have needed to complete to get her job?
high school diploma
associate degree
bachelor's degree
master's degree
Answer:
The answer is an associate degree
Explanation:
I just took the test and got it right.
Answer:
associate degree is the answer
A graphical view of balanced-budget fiscal policy Suppose the government enacts a "balanced budget" change in fiscal policy by increasing spending and raising taxes. Assume the tax increase affects both consumption and production spending. Use the slides in following exhibit to preview potential effects of this policy on aggregate supply (AS), aggregate demand (AD), and the market equilibrium (E) when the initial curves and equilibrium are given by AS1, AD1, and E1, respectively. Initial View View 1 View 2 View 3View View 5 PRICE LEVEL REAL GDP AD 1 AS 1 E 1 The total effect of the change in spending and taxation is best represented by . True or False: According to the principle of Ricardian equivalence, the effect of increased government spending on aggregate demand would be smaller if it were financed through borrowing instead of taxation. True False
Answer:
joj
Explanation:
ojooj
Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any remaining card in the deck is a single individual, either a seller or a consumer, and all are gathered at a single perfectly competitive market. Red cards are sellers, and black cards are consumers. The number on a card indicates the individual's WTP or MC. Each seller owns a single unit of an indivisible good. Each consumer can buy at most one unit of the good from a seller. Then the market outcome will be
Answer:
the equilibrium price is 6 and units sold is 10
Explanation:
In the case when we eliminate all the jacks, queens, aces and kings we have a total of 36 card that left with the numbers from 2 to 10
also there are 18 red card of sellers and 18 black card of buyers
Now the following table should be prepared
Price Quantity demanded Quantity supplied
2 18 2
3 16 4
4 14 6
5 12 8
6 10 10
7 8 12
8 6 14
9 4 16
10 2 19
As we can see that at the price of 6 the quantity demanded would be equivalent to the quantity supplied
So, the equilibrium price is 6 and units sold is 10
Henderson Electronics Corporation manufactures and sells FM radios. Information on the prior year's operations (sales and production Model A1) is presented below: Sales price per unit $30 Costs per unit: Direct material 7 Direct labor 4 Overhead (50% variable) 6 Selling costs (40% variable) 10 Production in units 10,000 Sales in units 9,500 Refer to Henderson Electronics Corporation. Assume that the remaining Model A1 radios can be sold through normal channels or to a foreign buyer for $6 per unit. If sold through regular channels, the minimum acceptable price will be
Answer:
the minimum acceptable price is $4
Explanation:
The computation of the minimum acceptable price is shown below:
Here the minimum acceptable price would be considered as a variable selling cost i.e. calculated below:
= Selling cost × variable percentage
= $10 × 40%
= $4
hence, the minimum acceptable price is $4
The same would be considered and relevant too
when completing the FAFSA, the student is given an EFC number. what does the EFC mean?
Answer:expected family contribution
Explanation:
Which environmental force did Unibic use in segmenting its market? What is this force about?
going home from my phone number I was so I could go back and I don't know how much we are not to mention to get to see you have been trying my
For a cheese-lover, Burger King's Mac n' Cheetos are what type of product? (1pt)
Answer:
specialty product
Explanation:
For a cheese-lover, this product would be considered a specialty product. This is because they will actively seek out this product specifically because they love the ingredient/flavor of the product. For someone that loves cheese, products that are cheese flavored or contain cheese will be prioritized above all of the other products that do not contain cheese. This ultimately classifies the product as a specialty product because it is being sought after, even with other options around.
Which sentence describes a benefit that short term disability insurance offers a policyholder
Answer:
It provides 40% to 60% of the policyholder's income for up to one year. Explanation: Short term disability insurance covers the income of a person that has to leave work as a result of illness or injury. It provides financial assistance while the individual recuperates at home
Explanation:
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Suppose you started a new all-equity financed company that is expected to generate an ROE of 15% indefinitely. The current book value per share equals $30. The required return on the stock equals 12% and you expect to grow at a constant rate of 5% forever. What is the value of the stock of the startup company
Answer:
The value of the stock at start-up = $67.5
Explanation:
According to the dividend valuation model , the current price of a stock is the present value of the expected future dividends discounted at the required rate of return
This principle can be applied as follows:
The value of stock today is the present value of the future return discounted at the required rate of return
The return can be computed as the ROE × Book value of share
Return = 15%× 30 =4.5
Price of stock today = D× (1+g)/r-g
D= current return, g- growth rate, r-required rate of return
DATA: D= 4.5, g= 5%, r= 12%
PV = 4.5× (1.05)/(0.12-0.05)
= 67.5
The value of the stock at start-up = $67.5
provide two reasons why public participation is important for people experiencing lack of basic services
Answer:
the main aim of public participation is to encourage the public to have meaningful and put into decision making process public participation does provide the opportunity for communication between agencies making decisions and the Public's public participation can be time-consuming and sometimes expensive don't know if this helps but good luck
The higher prices charged by monopolists: Group of answer choices are like a private tax that redistributes income from consumers to monopoly sellers. are socially optimal because they better reflect how much society values the good relative to the resources used to produce it. have no effect on the distribution of income. return to consumers through the public goods provided by monopolies.
Answer:
are like a private tax that redistributes income from consumers to monopoly sellers.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.
The higher prices charged by monopolists are like a private tax that redistributes income from consumers to monopoly sellers because the consumers are left with no choice than to patronize these monopolists for essential goods and services since they are the only seller.
Fred leases a taco store in the shopping center. In order to prepare his tacos, Fred installs a large, old stove to cook the meat. The lease runs out and Fred does not want to renew the lease. He leaves town and leaves the stove in the landlord's property. The lease contract did not mention the stove and the landlord is very unhappy. What is the legal situation now?
Answer:
The stove is a trade fixture, but Fred did not take it with him upon the expiration of the lease. Now it is the property of the landlord.
Explanation:
Since in the given situation it is mentioned that that lease would run out and he does not want to renew the lease also he leaves the stove in the property of the landlord. Due to this the landlord is very sad
So here the legal situation is that the stove would be classify as a trade fixture also he did not take it with him so now it would be the property of the landlord
The same would be considered
Discovering the process of distribution of commonly used items is quite interesting and opens eyes to several new processes and careers! Your group will be in charge of dissecting the process of distribution related to any of the following items:
*Televisions
*Milk in Cartons
*Laundry Detergent
*Refrigerators
*Lumber
*Pineapples
*Video Games
*Watches
*Coffee
*Shoes
*Football Helmets
*Pencils
Narrow your research by selecting a brand or company that manufactures or distributes one of the products listed above. For example, not all shoes come from the same country, manufacturer, distributor, or are distributed alike. Select a brand of shoes you are familiar with and begin the search. The goal is to trace the process from production to consumer.
What is the difference between demand and supply curve?
Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years
Suppose your company is considering exporting to a new market and needs to determine whether it should sell a basic or luxury version of its product there. Data on all of the following EXCEPT _____ would best help answer that question. Group of answer choices per capita GDP general consumption patterns GDP demographic trends
Answer:
whats qustion
Explanation:
1. You invest $1,000 in a certificate of deposit that matures after ten years and pays 5 percent interest, which is compounded annually until the certificate matures. a. How much interest will the saver earn if the interest is left to accumulate? b. How much interest will the saver earn if the interest is withdrawn each year? c. Why are the answers to a and b different?
Answer and Explanation:
a. The computation of the interest earned is given below:
= $1,000 × (1.05)^10 - $1,000
= $628.29
b. Now the interest earned in case of withdrawn is
= $1,000 × 5% × 10
= $500
c. In part a there is a compound interest while on part b there is a simple interest so the both answers should be different
The same would be relevant and considered too
Suppose Robina Bank receives a deposit of $53,589 and the reserve requirement is 3%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: $ What is the total change in the M1 money supply from this one deposit? total change: $
The management of Penfold Corporation is considering the purchase of a machine that would cost $270,000, would last for 5 years, and would have no salvage value. The machine would reduce labor and other costs by $60,000 per year. The company requires a minimum pretax return of 12% on all investment projects. Click here to view Exhibit 7B-1 and Exhibit 7B-2 to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes.): (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $(11,700) $(29,886) $(77,514) $(53,700)
Answer:
$(53,700)
Explanation:
The computation of the net present value is given below:
Given that
Initial investment is $270,000
Time period is 5 years
Annual cash flows is $60,000 per year
Discounting rate is 12%
Now the net present value is
Year cash flows discount rate at 12% Present value
1-5 $60,000 3.605 $216,300
Less:
Initial investment $270,000
Net present value ($53,700)
Burger Prince buys top-grade ground beef for $1.05 per pound. A large sign over the entrance guarantees that the meat is fresh daily. Any leftover meat is sold to the local high school cafeteria for 75 cents per pound. Four hamburgers can be prepared from each pound of meat. Burgers sell for 70 cents each. Labor, overhead, meat, buns, and condiments cost 40 cents per burger. Demand is normally distributed with a mean of 385 pounds per day and a standard deviation of 30 pounds per day. What daily order quantity is optimal
Why wouldn't giving yourself a manicure count as GDP for the United States?
Abbott, Inc., plans to issue $500,000 of ten percent bonds that will pay interest semiannually and mature in five years. Assume that the effective interest rate is 12 percent per year compounded semiannually. Calculate the selling price of the bonds. Round answers to the nearest whole number.
Answer:
$463,202.25
Explanation:
The calculation of the selling price of the bond is given below:
The selling price of the bonds is
= Present value of interest + Present value of maturity
where,
In semi-annually basis , the rate of interest would be divided by 2 and the time period would be double
So, The Present value of interest equals to
= $500,000 × 5% × 7.36009
= $184,002.25
The 7.36009 represent PVIFA factor. Refer to the PVIFA table for the same
And, the Present value of maturity is
= $500,000 × 0.5584
= $279,200
So, the selling price of the bond is
= $184,002.25 + $279,200
= $463,202.25
Which types of charitable giving have you heard of? Check all that apply.
volunteering at a soup kitchen
donating clothes to a charity
donating canned food to a charity
volunteering at a hospital
donating toys to a charity
volunteering at an animal shelter
Answer:
volunteering at a soup kitchen
volunteering at a hospital
volunteering at an animal shelter
Explanation:
The correct options are given below.
volunteering at a soup kitchenvolunteering at a hospitalvolunteering at an animal shelterWhat Is Charitable Giving?Charitable Giving can be defined as an act of giving money, time, or some goods to unlucky or inopportune people, directly or through a worthy cause like a charitable trust.
What are the Disadvantages of Charitable Giving?The reasons most people give for objecting to conditional charity gifts are:
It interferes with the autonomy of the recipient.It's unethical to interfere in the self-determination of sovereign states.The conditions may be contrary to human rights.The conditions may be politically manipulative.Learn more about charitable giving here https://brainly.com/question/21376202
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A consulting engineering firm wants to make a preliminary cost estimate for the design/construct of an e-commerce warehouse facility in the south of the country. The firm completed a similar project in 2012 that had a construction cost of $70 million, and it wants to use the ENR Construction Cost Index (CCI) to update the cost. If the index value in 2012 was 8802 and today it is 12,250, determine the estimated cost of the facility today. (Note: CCI values may be different on its website.)
Answer: $97,421,041
Explanation:
Cost for the facility in 2012 = $70 million
Construction Cost Index in 2012 = 8802
Construction Cost Index today = 12250
The estimated cost of the facility today will be:
= Cost of facility in 2012 × (CCI today / CCI in 2012)
= 70,000,000 × 12250/8802
= $97,421,041
The estimated cost of the facility today is $97,421,041.
Assume Zap Industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 2,496,320 $ 1,937,472 Allowance for Doubtful Accounts (126,400 ) (103,360 ) Accounts Receivable, Net $ 2,369,920 $ 1,834,112 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019
Answer: $23,040
Explanation:
Based on the information given in the question and assuming the company recorded no write-offs or recoveries during 2019, the amount of Bad Debt Expense reported in 2019 will be the difference between the ending balance of the allowance account and the beginning balance of the allowance account. This will be:
= $126,400 - $103,360
= $23,040
Therefore, the correct answer is $23,040
Discovering the process of distribution of commonly used items is quite interesting and opens eyes to several new processes and careers! Your group will be in charge of dissecting the process of distribution related to any of the following items:
*Televisions
*Milk in Cartons
*Laundry Detergent
*Refrigerators
*Lumber
*Pineapples
*Video Games
*Watches
*Coffee
*Shoes
*Football Helmets
*Pencils
Narrow your research by selecting a brand or company that manufactures or distributes one of the products listed above. For example, not all shoes come from the same country, manufacturer, distributor, or are distributed alike. Select a brand of shoes you are familiar with and begin the search. The goal is to trace the process from production to consumer.
Answer and Explanation:
The distribution of laundry detergent can happen in two ways. The first way, occurs with a distribution of the factory direct to the retailers of a country. These retailers, receive the detergents, store large inventories and send them to smaller stores, within a given region. This type of distribution has a lower economic cost, which causes the detergent to be sold at lower prices.
The second form of distribution occurs with the use of intermediaries between factories and retailers. These intermediaries are the wholesalers, they receive the product from the factories forming large stocks, which will be distributed to retailers, who in turn, will distribute the product to stores. This process makes the product more expensive, making the price higher.
