False, SHOULD INCREASE after-tax real interest rates.
Monty Corp. has been in business for several years. At the end of the current year, the ledger shows: Accounts Receivable $ 326,200 Dr. Sales Revenue 2,761,700 Cr. Allowance for Doubtful Accounts 6,100 Cr. Uncollectible accounts are estimated to be 6% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer and Explanation:
The journal entry is shown below:
Bad debt expense Dr $13,472
To allowance for doubtful debts $13,472
(Being the bad debt expense is recorded)
The bad debt expense is
= 6% of $326,200 - $6,100
= $13,472
Here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debts
According to your reading material, one cause of excessive pressure is a/an __________.
a. overestimation of the severity of one’s own problems
b. lack of sleep
c. lack of self-confidence
d. lack of self-esteem
Answer: D
Explanation: A lack of self-esteem can lead to reliance others advice which can also lead to excessive pressure by the people your getting advice from.
A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs of $2,000,000. What are earnings per share if the company has 100,000 shares outstanding and no preferred stockholders
Answer:
$30
Explanation:
Earnings per share = earnings / total outstanding shares
Earnings = total revenue - total cost
total cost = $40,000,000 + $5,000,000 + $2,000,000 = $47,000,000
Earnings = $50,000,000 - $47,000,000 = $3,000,000
Earnings per share = $3,000,000 / 100,000 = $30
Cougar Corp. purchased 200 units of inventory for $15 per item on July 20. On July 31, the items were made obsolete by a newly released product. The effect of this change caused the items purchased on July 20 to only be worth $8. What amount would Cougar Corp. report on its financial statements related to this inventory
Answer: $1,600
Explanation:
The company would have to report the inventory at its current market value and not the one that it bought it at so that the cost of goods sold can accurately reflect the reduced value of the inventory.
Current market value is:
= 200 units * 8
= $1,600
On September 1, 2021, Hiker Shoes issued a $100,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 9% Hiker's effective interest rate on this loan (rounded) is: (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
A. 9.0%.
B. 9.5%
C. 9.6%.
D. 9.7%
Answer:
C. 9.6%.
Explanation:
Our first task in this would be to determine the amount at which the note was issued using the discount rate
PV=FV-(FV*discount rate*8/12)
PV=$100,000-($100,000*9%*8/12)
PV=$94,000
interest rate=($100,000-$94,000)/$94,000
interest rate=6.38%(for 8 months)
Effective interest rate=6.38%/8*12
effective interest rate=9.6%
During March, the production department of a process operations system completed and transferred to finished goods 23,000 units that were in process at the beginning of March and 170,000 units that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 70% complete with respect to labor. At the end of March, 28,000 additional units were in process in the production department and were 100% complete with respect to materials and 70% complete with respect to labor. The production department incurred direct materials cost of $254,800 and its beginning inventory included materials cost of $94,100. Compute the direct materials cost per equivalent unit for the department using the weighted-average method.
a. $1.37.
b. $2.05.
c. $1.58.
d. $1.50.
e. $1.81.
Answer:
c. $1.58.
Explanation:
The computation of the direct materials cost per equivalent unit is given below:
Equivalent units for material is
= 100% of 193,000 + 100% of 28,000
= 193,000 + 28,000
= 221,000
Equivalent cost for material is
= $94,100 + $254,800
= $348,900
So, the direct materials cost per equivalent unit is
= $348,900 ÷ 221,000
= $1.58
In order to undertake problem solving, the first step must be:________.
a. the determination of the correct analytical solution procedure
b. the definition of decision variables
c. the identification of a difference between the actual and desired state of affairs
d. None of these are correct
BusCorp wants to introduce a new procedure to improve how customer requests are handled. This change will require employees to break old routines and adopt new role patterns. They decide to adopt two new programs, one in which employees learn how to work as teams as the company changes. The other involves forming task forces within the company to help determine ne customer service practices.
The formation of task forces to minimize resistance to change is known as:_______.
A. communication.
B. learning.
C. stress management.
D. negotiation.
E. employee involvement.
Answer:
E)Employee involvement
Explanation:
Employee involvement can be regarded as taking part of employees in decision-making process that are crucial to the organization, so that the goals of the organization are met. When employees there is involvement of employees in making decisions, there will be some professional as well as personal stake gained by the employee in the organization as well as the organization overall success. As a result of this there would be increased productivity in part of employees because they will take part actively in various aspects that will bring about success of the firm.
Knowledge Check 01 On December 31, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it by its customer Acme, Inc. The company uses the direct write-off method to account for uncollectible accounts. Prepare the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Answer and Explanation:
The journal entry is given below:
Bad debt expense $1,200
To Accounts Receivable- Acme Inc. $1,200
(Being the bad debt expense is recorded)
Here the bad debt expense is debited as it increased the expense and credited the account receivable as it decreased the assets
The same is relevant
A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury stock—common, $20,000 Paid-in capital in excess of par value—common, $60,000 Treasury stock—preferred, $20,000 Common stock, $200,000 Preferred stock, $175,000 Paid-in capital in excess of par value—preferred, $60,000 How much is total stockholders' equity?
Answer:
Stockholders' Equity
Common stock $200,000
Preferred stock $175,000
Paid-in capital in excess of par value
Common stock $60,000
Preferred stock $60,000
Retained earnings $375,000
Treasury Stock
Common stock -$20,000
Preferred stock -$20,000
Total stockholders' equity $830,000
MC Qu. 134 Mustang Corporation has accumulated... Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,800 Finished goods inventory, April 30 26,800 Total cost of goods manufactured 124,700 The cost of goods sold for the year is:
Answer:
The cost of goods sold for the year is $130,700
Explanation:
Finished goods inventory, April 1$32,800
Finished goods inventory, April 30 26,800
Total cost of goods manufactured 124,700
Use the following formula to calculate the cost of goods sold
Cost of goods sold = Total cost of goods manufactured + Finished goods inventory, April 1 - Finished goods inventory, April 30
Where
Finished goods inventory, April 1 = $32,800
Finished goods inventory, April 30 = $26,800
Total cost of goods manufactured = $124,700
Placing values in the formula
Cost of goods sold = $124,700 + $32,800 - $26,800
Cost of goods sold = $130,700
A truck acquired at a cost of $195,000 has an estimated residual value of $10,200, has an estimated useful life of 56,000 miles, and was driven 5,000 miles during the year. Determine the following:
a. The depreciable cost $___________
b. The depreciation rate $__________ per mile
c. The units-of-activity depreciation for the year $__________
Answer:
a. $184,800
b. 3.3 per miles
c. 16,500
Explanation:
(a) Calculation to determine The depreciable cost
Depreciable cost =Cost - estimated residual value
Depreciable cost=$195,000- $10,200
Depreciable cost=$184,800
(b) Calculation to determine The depreciation rate
Depreciation rate = $184,800/useful life 56,000 miles
Depreciation rate =3.3per mile
(c) Calculation to determine The units-of-activity depreciation for the year
Units-of-activity depreciation =3.3per mile*5,000 miles
Units-of-activity depreciation=16,500
Therefore The units-of-activity depreciation for the year is 16,500
May 31, Novac Corp. Has net sales of $415,000 in cost of goods available for sale of $286,000 compute the estimated cost of the ending inventory assuming the gross profit rate is 37%
Answer:
$24,550
Explanation:
Computation for the estimated cost of the ending inventory
Net Sales = $415,000
Gross Profit rate= 37%
Cost of goods Sold = 100%- 37% = 63%
Cost of Goods Sold =$415,000*63% = $261,450
Cost of Goods Available for sale = $286,000
Using this formula
Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold
Let plug in the formula
Estimated Cost of Ending Inventory = $286,000-$261,450
Estimated Cost of Ending Inventory = $24,550
Therefore the estimated cost of the ending inventory is $24,550
Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about life. From an early age he knew exactly what he wanted to become, and now as a man, he is confident about his career and family and want to leave them a good life when he departs this life. Frank express that he is not afraid of dying but he wants them to be ok when he is gone.
At work Frank is helpful to his colleagues, and even in his community he is well-known among the elderly since he is always putting on Christmas treats for them.
Imagine that Frank is your colleague, and that your boss asks you to write a character reference for Frank. Using Jung’s personality theory to guide your writing, present a minimum one- page character reference in which you spell out Franks behaviour, his outlook on life, his philosophy about people and all the other important things you know about him. Ensure you point out how these different parts of Franks life fits into Jung’s theory and overall what Jung’s theoretical concept says about him.
Answer:
I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.
Explanation:
I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.
MC Qu. 157 McCoy Brothers manufactures and sells... McCoy Brothers manufactures and sells two products, A and Z in the ratio of 5:2. Product A sells for $84; Z sells for $105. Variable costs for product A are $41; for Z $45. Fixed costs are $482,400. Compute the number of units of Product A McCoy must sell to break even.
Answer:
7,200 units
Explanation:
The computation of the no of units for break even for product A is given below:
But before that the contribution margin for the sales mix is
Particulars product A product Z
Selling price $84 $105
Less:
variable cost -$41 -$45
Contribution margin $43 $60
Sales mix 5 2
CM sales mix $215 $120
Total $335
Now the break even sales in total is
= $482,400 ÷ 335
= 1,440 units
Now for product A, it is
= 1,440 × 5
= 7,200 units
Jerry Rice and Grain Stores has $4,030,000 in yearly sales. The firm earns 2.2 percent on each dollar of sales and turns over its assets 4 times per year. It has $140,000 in current liabilities and $343,000 in long-term liabilities.
Required:
a. What is its return on stockholders' equity?
b. If the asset base remains the same as computed in part a, but total asset turnover goes up to 4.50, what will be the new return on stockholders' equity?
Answer:
a. Return on stockholders' equity = 16.90%
b. New return on stockholders' equity = 18.62%
Explanation:
a. What is its return on stockholders' equity?
Assets turnover = Sales / Total assets ……………. (1)
Therefore, we have:
Total assets = Sales / Assets turnover = $4,030,000 / 4 = $1,007,500
Total liabilities = Current liabilities + Long-term liabilities = $140,000 + $343,000 = $483,000
Stockholders' equity = Total assets - Total liabilities = $1,007,500 - $483,000 = $524,500
Net income = Sales * Percentage earns on each dollar sales = $4,030,000 * 2.2% = $88,660
Return on stockholders' equity = Net income / Stockholders' equity = $88,660 / $524,500 = 0.1690, or 16.90%
b. If the asset base remains the same as computed in part a, but total asset turnover goes up to 4.50, what will be the new return on stockholders' equity?
Based on equation (1) in part a above, we can have:
New sales = New total asset turnover * Total assets from part a above = 4.50 * $1,007,500 = $4,533,750
New net income = New sales * Percentage earns on each dollar sales = $4,533,750 * 2.2% = $99,742.50
New stockholders' equity = Stockholders' equity in part a above + (New net income - Net income in part a above) = $524,500 + ($99,742.50 - $88,660) = $535,582.50
New return on stockholders' equity = New net income / New stockholders' equity = $99,742.50 / $535,582.50 = 0.1862, or 18.62%
A company is offering perpetual preferred stock (its dividend payments last forever) with a fixed annual dividend of $100. If your required rate of return on this investment is 12 percent, what is the value of each share
Answer:
833.33
Explanation:
The fixed annual dividend is $100
The required rate of return on this investment is 12%
Therefore the value for each share can be calculated as follows
= 100/(12/100)
= 100/0.12
= 833.33
Hence the value for each share is 833.33
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, however. He now realizes that he needs to come up with the extra money for the mortgage. Cosmo decides to rent out the storefront next to the restaurant for added income. After acquiring the property, Cosmo shifted his focus onto which aspect of goal-setting theory
Answer:
Realistic aspect
Explanation:
Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.
This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.
This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan
ABC Bank requires a 20% down payment on all of its home loans. If a house
is priced at $145,000, what is the amount of the down payment required by
the bank?
A. $29,000
B. $290,000
C. $14,500
D. $18,000
Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:
Sales $780,000
Net operating income $17,940
Average operating assets $100,000
The following questions are to be considered independently.
Required:
Compute the Springfield club's return on investment (ROI).
Answer:Springfield club's return on investment (ROI) is 17.94%
Explanation:
Return on investment (ROI) is given as the ratio of the net operating income to average operating assets and expressed in percentage .
ROI = Net operating income / Average operating assets
Given that
Net operating income =$17,940
Average operating assets = $100,000
ROI = $17,940/ $100,000 = 0.1794, 17.94%
Therefore, the the Springfield club's return on investment (ROI) is 17.94%
Please tell whether inventory is beneficial or not for businesses with a large number of customers? Why?
Answer:
I don't know how it is possible
A debit balance is the bank statement indicates?
Answer:
Bank Overdraf
Explanation:
Overdrafts are where the bank account becomes negative and the businesses in effect have borrowed from the bank.
Sylvia mused to herself, "It has taken over 30 years, but I've finally been named CEO of a major firm. Now, I can concentrate on what I really want to do as a(n) ____________ manager, to focus on the survival, growth, and overall effectiveness of our firm."
Answer:
Strategic.
Explanation:
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or an example to the employees working in an organization by being morally upright.
A strategic manager is also referred to as a top-level manager and he or she is mainly focused on setting goals, objectives, and procedures in order to enhance the survival, growth, and overall effectiveness of a business firm.
Hence, Sylvia can concentrate on what she really want to do as a strategic manager, by focusing on the survival, growth, and overall effectiveness of our firm.
How will forgoing traditional advertising in favor of a social media campaign using various social media technologies help Slice of Life Pizze?
A. by allowing customers to search for Slice of Ufe Pizza's products more easily
B. by helping build connections between Slice of Life Pazand its customers
C. by helping Slice of Life Pizza establish an internet presence
D. by allowing Slice of Life Pizza capture customer Information
E. by helping Slice of Life Pizza appear more 'woke to customers
Answer: B. by helping build connections between Slice of Life Pizza and its customers
Explanation:
Traditional marketing involves push advertising which means that the advertising is simply shown to people and their input is not considered. For instance, advertising using newspapers and television.
Social media campaigns on the other hand, connect companies to their customers as customers will be able to engage the company through comments and the like. Customers would feel like they are closer to the company because they will be able to interact with them and express grievances or suggestions.
The traditional advertising in favor of a social media campaign using various social media technologies help Slice of Life Pizze by helping build connections between Slice of Life Pazand its customers.
According to this question, we are to discuss about how Life Pizze is been helped by campaign using various social media technologies.
As a result of this , we can see that , it help Life Pizze by helping build connections between Slice of Life Pazand its customers, hence great sales.
Therefore, option B is correct.
Learn more about traditional advertising at;
https://brainly.com/question/13171394
calculator solutionvChang is investing $2,500 today and will do so at the beginning of each of the next six years for a total of seven payments. If her investment can earn 12 percent annually, how much will she have at the end of seven years
Answer: $28,249.25
Explanation:
As the payments are constant, this represents an annuity. Also, as the payment is made at the beginning of every period, it is an Annuity Due.
The value of the end of the 7 years is the future value of the annuity due which is found by:
= Annuity * Future value factor of an annuity, 7 years, 12%
= 2,500 * 11.2997
= $28,249.25
The statement of cash flows reports:_______ a) Changes in equity. Equity, net income, and dividends. b) Cash inflows and cash outflows for an accounting period. c) Revenues, gains, expenses, and losses. d) Assets, liabilities, and equity.
Answer:
b. Cash inflows and cash outflows for an accounting period.
Explanation:
The cash flows statement reported the cash inflows and cash outflows of the company. It includes three kinds of activity i.e. operating, investing and financing. Here cash inflows means the cash is come so the same is to be added and cash outflow means the cash is gone so the same is to be deducted
Therefore the option b is correct
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 920 $ 7.30 Mar. 10 Purchase 590 7.75 Mar. 16 Purchase 790 8.16 Mar. 23 Purchase 520 8.56 Marvin sold 1,930 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $16,966. $16,521. $15,689. $14,716.
Answer:
COGS= $14,716
Explanation:
Giving the following information:
Beginning inventory 920 $ 7.30
Mar. 10 Purchase 590 7.75
Mar. 16 Purchase 790 8.16
Mar. 23 Purchase 520 8.56
Marvin sold 1,930 units of inventory during the month.
Under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the cost of the first units incorporated into inventory:
COGS= 920*7.3 + 590*7.75 + 420*8.16
COGS= $14,715.7
COGS= $14,716
Botox Facial Care had earnings after taxes of $282,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $81.80. In 20X2, earnings after taxes increased to $418,000 with the same 200,000 shares outstanding. The stock price was $94.00.
Required:
a. Compute earnings per share and the P/E ratio for 20X1.
b. Compute earnings per share and the P/E ratio for 20X2.
c. Why did the P/E ratio change? (
Answer:The earnings per share and The P/E ratio for 20X1 is $1.41 and $58.01 respectively.
The earnings per share and The P/E ratio for 20X2 is $2.09 and $44.976 respectively.
Explanation:
a. Earning per shares = Earning after Taxes / total Shares outstanding
= $282,000/200,000
= $1.41
Therefore, The earnings per share for 20X1 is $1.41
P/E RATIO = Price Per shares/Earning per shares
= $81.80/$1.41
= $58.01
Therefore, The P/E ratio for 20X1 is $58.01
b. Earning per shares = Earning after Taxes / total Shares outstanding
= $418,000/200,000
= $2.09
Therefore, The earnings per share for 20X2 is $2.09
P/E RATIO = Price Per shares/Earning per shares
= $94.00/$2,09
= $44.976
Therefore, The P/E ratio for 20X2 is $44.976
c.The P/E ratio changed from $58.01 to $44.976 because of the change in earnings per share and the stock price per share.
Jill and Kane, with their attorneys, meet to try to resolve a dispute. A neutral third party works with both sides and proposes a solution, but does not make a decision resolving the matter. This is:____.
a. arbitration.
b. negotiation.
c. mini-trial.
d. mediation.
Answer:
Option d: Mediation
Explanation:
Alternative dispute resolution (ADR)
This is simply known as other processes of managing or resolving conflicts than the use of traditional Court processes or litigation. There are three methods of ADR. it includes:
1. Negotiation
2. Mediation
3. Arbitration
Mediation
This is simply known as a type of an ADR where a neutral third party helps to quickens the communication process between the conflicting parties so that they can work out their own mutually acceptable agreement.
Mediators
This are people who are part of the mediation. They are regarded as an unbiased facilitators of communication usually between the parties in a private setting.They do not decision-making power with respect to the outcome of the mediation. A neutral person in this case is regarded as an individual who is not in support of either party in the conflict and they are often called the mediator.
As a business owner, you find that your resource prices are increasing often. Because these costs are rising, you find it necessary to change your prices frequently. This best describes:
a. future price uncertainty.
b. menu costs.
c. money illusion.
d. hyperinflation.
e. a price confusion problem.
Answer:
The right answer is Option b (menu costs).
Explanation:
Menu expenses or costs would be the expenses a company entails if it modifies its pricing often, the most important approach to pay for the menu would be to keep particular pricing persistent.And that if an organization employee regularly changes significantly pricing owing to an improvement throughout commodity price marketing expenses are involved.The other four choices are not connected to the given query. So the above is the right approach.
