Answer:
$13,000
Explanation:
Total Interest received over 10 year period = $50,000 * 3% * 10
Total Interest received over 10 year period = $15,000
Purchase price of bonds = $50,000 * 104%
Purchase price of bonds = $52,000
Total amount to be amortized over life of bonds = $52,000 - $50,000
Total amount to be amortized over life of bonds = $2,000
Total Interest Income that will be reported = $15,000 - $2,000 = $13,000. So, the total Interest Income that will be reported over the life of the bond investment if the bonds were purchased at 104 is $13,000.
Adelphi Company
The total Interest Income that will be reported over the life of the bond investment is :
Total Interest received over 10 year period = $50,000 * 3% * 10Total Interest received over 10 year period = $15,000
Purchase price of bonds = $50,000 * 104%Purchase price of bonds = $52,000
Total amount to be amortized over life of bonds = $52,000 - $50,000Total amount to be amortized over life of bonds = $2,000
Total Interest Income that will be reported = $15,000 - $2,000Total Interest Income that will be reported= $13,000.
Therefore , the bond investment if the bonds were purchased at 104 is $13,000.
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The demand for
goods increases with a decrease in income, whereas
are goods that cannot be bought or sold.
Answer:
A normal good is a good that experiences an increase in its demand due to a rise in consumers' income. Normal goods include food ...
Income from operations for Division L is $250,000, total service department charges are $400,000 and operating expenses are $2,750,000. What are the revenues for Division L
Answer:
the sales revenue is $3,400,000
Explanation:
The computation of the revenue is shown below;
Income from operations = Sales revenue - operating expense - total service department charges
$250,000 = Sales revenue - $2,750,000 - $400,000
So, the sales revenue is
= $3,150,000 + $250,000
= $3,400,000
Hence, the sales revenue is $3,400,000
If the best operating level of a process X is 1026 bottles per day and the actual output during a day is 786 bottles, then what is the capacity utilization rate for process X
Answer:
greater than 70% but less than or equal to 90%
Explanation:
The computation of the capacity utilization rate for process X is shown below:
As we know that
Capacity Utilization = (Actual Output ÷ Design Capacity) × 100
= (786 ÷ 1026) × 100
= 76.61%
So, it is greater than 70% but less than or equal to 90%
Brown Cow Dairy uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on the basis of three time periods as follows: (1) not yet due, $14,000; (2) up to 120 days past due, $4,500; and (3) more than 120 days past due, $2,500. Experience has shown that for each age group, the average loss rate on the amount of the receivables at year-end due to uncollectibility is (1) 2 percent, (2) 12 percent, and (3) 30 percent, respectively. At December 31 (end of the current year), the Allowance for Doubtful Accounts balance is $800 (credit) before the end-of-period adjusting entry is made. Data during the current year follow:
a. During December, an Account Receivable (Patty's Bake Shop) of $750 from a prior sale was determined to be uncollectible; therefore, it was written off immediately as a bad debt.
b. On December 31, the appropriate adjusting entry for the year was recorded.
Required:
1. Give the required journal entries for the two items listed above.
2. Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the income statement and balance sheet for the current year. Disregard income tax considerations.
Answer:
Brown Cow Dairy
1. Journal Entries:
a. Debit Allowance for Uncollectibles $750
Credit Accounts Receivable $750
To write-off an uncollectible account.
b. Debit Bad Debts Expense $1,520
Credit Allowance for Doubtful Accounts $1,520
To record bad debts expense for the year.
2. Amounts that would be reported:
Income Statement:
Bad debts expense $1,520
Balance Sheet:
Accounts Receivable $21,000
less Allowance for Doubtful accounts $1,570
Explanation:
a) Data and Calculations:
(1) not yet due, $14,000 * 2% = $280
(2) up to 120 days past due, $4,500 * 12% = 540
(3) more than 120 days past due, $2,500 * 30% = 750
Total $21,000 $1,570
Balance of Allowance for Doubtful Accounts = $800
a. Debit Allowance for Uncollectibles $750
Credit Accounts Receivable $750
To write-off an uncollectible account.
b. Debit Bad Debts Expense $1,520
Credit Allowance for Doubtful Accounts $1,520
To record bad debts expense for the year.
Suppose you ran a business, your tax rate was 21%, the CAPM model said that the required return on equity capital was 17% and you are issuing a bonds with a 4% coupon. 60% of your capital to be used for investments is equity and the remaining 40% is debt arising from the bond issue. What is your WACC?
Answer:
11.46
Explanation:
WACC = weight of equity x cost of equity + weight of debt x cost of debt x (1 - tax rate)
(17% x 0.6) + (0.4 x 4 x (1 - 0.21) = 11.46%
1. ABC Company sublet a portion of its warehouse for a one-year period at an annual rental of $75,000, beginning on September 1, 2017. The tenant, XYZ company, paid the entire year's rent in advance, on September 1, 2017, which ABC recorded as a credit to Rent Revenue. Provide the adjusting entry on December 31, 2017 for ABC Company.
Answer and Explanation:
The adjusting entry is given below:
On Dec 31,2017
Unearned Rent Revenue $25,000 ($75,000 × 4 months ÷ 12 months)
To Rent Revenue $25,000
(Being revenue earned is recorded)
Here unearned rent revenue is debited as it decreased the liability and credited the rent revenue as it increased the revenue
What will be the nominal rate of return on a perpetual preferred stock with a $100 par value, a stated dividend of 12% of par, and a current market price of (a) $56.00, (b) $76.00, (c) $116.00, and (d) $133.00? Round your answers to two decimal places. %
[tex] \text{Preferred share par value = $30} [/tex]
[tex] \text{Dividend per share (Dp) = $10 ($100×10%)} [/tex]
Required :[tex] \text{Normal rate of return (rp)} [/tex]
Formula :[tex] \text{rp =} \frac{Dp}{Vp} [/tex]
Where,
[tex] \text{Vp = price of preferred share} [/tex]
[tex] \text{Dp = dividend per share} [/tex]
[tex] \text{Rp = normal rate of return of preferred share} [/tex]
Solve for nomial rate of return (rp) :Refer The AttachmentWhat would be the annual cost saved by shifting from the -bag lot size to the EOQ? The annual holding cost with the EOQ is $ nothing. (Enter your response rounded to two decimal places.)
Answer:
Without Calculating The... Problem 13 Current on-hand inventory is 310 bags, with no open orders or. Problem 13 ... What would be the annual cost saved by shifting from the 505-bag lot size to the EOQ? The annual holding cost with the EOQ is $ 690.15.
Explanation:
does it help??
Crane Inc. had beginning inventory of $12,000 at cost and $19,600 at retail. Net purchases were $105,056 at cost and $159,600 at retail. Net markups were $9,600, net markdowns were $6,500, and sales revenue was $160,600. Compute ending inventory at cost using the conventional retail method.
Answer:
Crane Inc.
The ending inventory at cost using the conventional retail method is:
= $23,426.
Explanation:
a) Data and Calculations:
Cost Retail
Beginning inventory $12,000 $19,600
Net purchases 105,056 159,600
Net markups 9,600
Goods available $126,656 $188,800
Ratio of cost to retail price = 67% ($126,656/$188,800)
Cost of goods sold 107,602 ($160,600 * 67%)
Ending inventory $23,426
The followings are financial statements of a sole proprietor EXCEPT the
Statement of Changes in Equity
Statement of Profit or Loss and Other Comprehensive Income
Statement of Financial Position
Statement of Revenues
Answer:
statement of changes in equity
You are given the following information on Kaleb's Heavy Equipment: Profit margin 6.5 % Capital intensity ratio .74 Debt-equity ratio .8 Net income $ 78,000 Dividends $ 16,000 Calculate the sustainable growth rate.
Answer: 14.36%
Explanation:
The sustainable growth rate will be calculated thus:
Firstly, we will calculate the return on equity(ROE) which will be:
= Profit margin × (1/Capital intensity ratio) × (1 + Debt equity ratio)
= 6.5% (1/0.74) × (1 + 0.8)
= 0.065 × 1.35 × 1.8
= 0.158
Then, we'll calculate the plowback ratio which will be:
= 1 - (16000/78000)
= 1 - 0.2051
= 0.7949
Therefore, the growth rate will be:
= (ROE × Plowback ratio) / [1 - (ROE × Plowback ratio)]
= (0.158 × 0.7949) / [1 - (0.158 × 0.7949)]
= 0.1256 / 0.8744
= 0.1436
= 14.36%
The sustainable growth rate is 14.36%
A miniature golf course owner has a location near LBCC. On a weekday during the school year, she observes that 100 players show up at a price of $15 each. On weekends, the demand increases by 50. During school break, only sell 50 show up. The owner tries Travelzoo coupons to boost sales. If she gives a 25% off coupon, sales increase by 25%. If she gives a 50% off coupon, she can boost sales by 50% over the base price. Copy the following chart to your workbook and fill in the numbers:
Quantity sold Selling price
School Year Weekday
25% off coupon
50% off coupon
School Year Weekends
25% off coupon
50% off coupon
School Breaks
25% off coupon
50% off coupon
Answer:
Miniature Golf Course
Filling in the Numbers in the Chart:
Quantity Selling
sold price
School Year Weekday 100 $15
25% off coupon 125 $11.25
50% off coupon 150 $7.5
School Year Weekends 150 $15
25% off coupon 188 $11.25
50% off coupon 225 $7.5
School Breaks 50 $15
25% off coupon 63 $11.25
50% off coupon 75 $7.5
Explanation:
a) Data and Calculations:
Sales during weekday during the school year = 100
Quantity Selling
sold price
School Year Weekday 100 $15
25% off coupon 125 $11.25 ($15 * 1 - 0.25)
50% off coupon 150 $7.5 ($15 * 1- 0.5)
School Year Weekends 150 $15
25% off coupon 188 $11.25 ($15 * 1 - 0.25)
50% off coupon 225 $7.5 ($15 * 1- 0.5)
School Breaks 50 $15
25% off coupon 63 $11.25 ($15 * 1 - 0.25)
50% off coupon 75 $7.5 ($15 * 1- 0.5)
Reynolds County has three large trucks with a total net book value of $600,000 and remaining lives of six years with no expected residual value. County officials lease the trucks to the City of Webster on January 1, 2020, for six years. Based on a negotiated annual implicit interest rate of 5 percent, the parties agree on annual payments of $112,581 beginning immediately and each January 1 thereafter. For both governments, the trucks relate to activities maintained with the General Fund.
1. What is the total expense Webster reports on government-wide financial statements for 2020?2. What amount of deferred lease revenue will Reynolds report on its statement of net position as of December31,2020, assuming that country recognizes revenue on a straight-line method?
Answer:
sorry i need the points brodie
Explanation:
thanks buddy
Hence ,the amount of deferred lease revenue reported in the statement of financial position of Reynolds is 600000-112581=$ 487419.
What is Lease ?Entries in the Books of Webster for the year 2020 are
1. Reynolds account. Dr 112581
To bank account. 112581
( being lease rent paid to lessor. As the payment made at the beginning of the year, no interest accrued for the first payment. Hence , finance charges not recognised for the first year)
2. Trucks account. Dr 600000
To Reynolds account. 600000
( being assets recognized at the inception of lease)
Hence , as the lease payments are to be made at the beginning of the year, for the first year, no finance charges or interest will a raise.
So, the total installment amount will be treated as paid in respect of the principal amount and adjusted against the principal amount in the statement of financial position and no expense is recognised in the statement of profit and loss in 2020
Entries in the books of Reynolds:
1. Webster account. Dr 600000
To trucks account. 600000
( being entry passed at the inception of lease)
2. Bank account Dr. 112581
Webster account. 112581
( as there is no interest in the first installment and total amount adjusted to principal amount)
Hence ,the amount of deferred lease revenue reported in the statement of financial position of Reynolds is 600000-112581= 487419.
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# SPJ 6
planing function means
Answer:
Explanation:
Planning function is the process of establishing goals and arranging them in logical order for the purpose of achieving a desired goal.
Planning is an important aspect of an organization so as to help them achieve their goals faster. It is done at all levels in an organization. Planning is done using the available resources, also achieving a balance between the needs and wants of the organization.
QUESTION 31 Denzil was one of 50,000 people defrauded of $40 in an advertising scam. His best course of action to recover his money is to a. bring an individual lawsuit in a U.S. District Court. b. bring an individual lawsuit against the advertiser in a state appellate court. c. mediate the claim with the advertiser. d. become part of a class action lawsuit, which might include plaintiffs who are unaware of the lawsuit or are even unaware they were harmed.
Answer: d. become part of a class action lawsuit, which might include plaintiffs who are unaware of the lawsuit or are even unaware they were harmed.
Explanation:
When multiple people are affected by unethical and illegal behavior by a company, they can come together and form a class action lawsuit.
In a class action lawsuit, a group of people are named as the plaintiffs and will be represented by some members of the group. The group can include people who did not even know they were unjustly treated or that they are in a lawsuit but in the interest of justice, their names will be included so as to right the wrong they are facing.
Class action lawsuits are beneficial because they save the individual plaintiffs money and put pressure on the courts to find a favorable outcome.
The first step in the decision-making process is to
Answer:
First step in decision- making process is to identify problem. The first step in making the right decision is recognizing the problem or opportunity and deciding to address it. Determine why this decision will make a difference to your customers or fellow employees.
Explanation:
Bergan Company estimates that total factory overhead costs will be $620,000 for the year. Direct labor hours are estimated to be 80,000. For Bergan Company, (a) determine the predetermined factory overhead rate using direct labor hours as the activity base, (b) determine the amount of factory overhead applied to Jobs 200 and 305 in May using the data on direct labor hours from BE 2-2, and (c) prepare the journal entry to apply factory overhead to both jobs in May according to the predetermined overhead rate.
Answer and Explanation:
The computation is shown below:
a. The predetermined overhead rate is
= $620,000 ÷ 80,000 direct labor hours
= $7.75
b. The amount of overhead applied is
For jobs 200, it is
= 2500 × $7.75
= $19,375
For job 305
= 3,000 × $7.75
= $23,250
c. The journal entry is
Work in Process Dr $42,625.00 ($19,375 + $23,250)
To Factory Overhead $42,625.00
(being the factory overhead is recorded)
Josiah's team missed a crucial deadline and lost a major client due to poor communication. As a result, his team is experiencing trust issues. Josiah is looking for ways to improve trust across the team as a whole and has generated a few ideas. All of the following are likely to increase trust except:________.
a. Josiah creates a poster board with team goals, indicating the roles of each team member.
b. Josiah plans to provide his team with more project training sessions to help improve their efficiency both as dividuals and as a group.
c. Josiah conducts individual performance reviews in front of the whole group so no one feels singled out
d. Josiah has individual check-ins with his team members to provide feedback
Frank's sporting goods projects sales for the second quarter of 2021 to be as follows: April $250,000 May $300,000 June $380,000 All of Frank's sales are on credit, 45% of credit sales are collected one month following the sale and the rest are collected two months following the sale. January sales were $150,000, February sales were $180,000, and March sales were $280,000. What are the total cash receipts in the month of May
Answer:i would tell you to look on a the brainly app lol
Explanation:
On January 1, Pharoah Company had 87000 shares of $10 par value common stock outstanding. On May 7, the company declared a 5% stock dividend to stockholders of record on May 21. Market value of the stock was $16 on May 7. The stock was distributed on May 24. The entry to record the transaction of May 24 would include a
Answer: credit to Common Stock Dividends Distributable for $43500
Explanation:
Based on the information given in the question, the entry to record the transaction of May 24 goes thus:
Debit Stock Dividend = 87000 × 5% × $16 = $69600
Credit To Common Stock Dividend Distributable = 87000 × 5% × $10 = $43500
Credit To Paid in capital in excess of Par - Common Stock = $69600 - $43500 = $26100
Ford Motor Company agreed to pay its workers $37 an hour in 1999 and $37 an hour in 2001. The CPI in 1999 was 166 and in 2001 was 180. Calculate the real wage rate in each year (to the nearest cent). Did these workers really get a pay raise between 1999 and 2001?
Answer:
No, the wage rate did not raise.
Explanation:
Given the nominal wage rate for the year 1999 = $37
CPI for 1999 = 166
The real wage for the year 1999 = [ Nominal wage / CPI ] x 100
The real wage for the year 1999 = [ 37/ 166] x 100 = $22.28
Given the nominal wage rate for the year 2001 = $37
CPI for 2001 = 180
The real wage for the year 2001 = [ Nominal wage / CPI ] x 100
The real wage for the year 2001 = [ 37/ 180] x 100 = $20.55
No the wage rate did not raise.
A common size analysis requires the representation of financial statement data in terms of a single financial statement item (or base account or value). What is the most commonly used base item for a common size income statement
Answer:
Net sales
Explanation:
A common size income statement represent the income statement in which each item line wise should be expressed as the sales or revenue percenatge. The motive of preparing this statement is to have the analyse and compare the performance of the company with their various years
So the base item that should be common used for this type of income statement is net sales
Why does insurance matter? What have you heard about insurance from your parents or the news?
Law Office employ 12 full-time attorneys and 5 paraprofessionals. Budgeted salaries include $100,000 for each attorney and $30,000 per paraprofessional. For 20x1, indirect costs were budgeted at $250,000, but actually amounted to $300,000. Actual salaries were $110,000 for each attorney and $30,000 for each paraprofessional. Direct and indirect costs are applied on a professional labor-hour basis that includes both attorney and paraprofessional hours. Total budgeted labor-hours were 50,000; however, actual labor-hours were 60,000.
How much should the client be billed in a normal costing system which uses budgeted rate and cost allocations are based on actual data, when 1,000 professional labor-hours were used?a. $27,000b. $32,000c. $34,800d. $37,400
Answer:
See below
Explanation:
Given the above information,
= ($110,000 × 12 + $30,000 × 5) / 60,000 × 1,000
= ($1,320,000 + $150,000) / 60,000,000
= $1,470,000 / 60,000,000 + $300,000/60,000) × 1,000
= $0.0245 + $5,000
= $5,000
Assume the prices of product X and Y are $2.00 and $1.00, respectively, and that Mr. Mo has $100 to spend. Assume a normal indifference curve.
a. What is the slope of Mr. Mo budget constraint.
b. Write out Mr.Mo equation to his budget constraint.
c. Assume that Mr. Mo needs 10 units of product X to maximize utility. What combination of X and Y Will Mr. Chen purchase?
d. Now assume that the price of Y changed from $1.00 to $2.00, redo part a, b and c,
e. Draw the budget constraint graph and indifference curve before the change and after the change in the price of Y.
Answer:
Explanation:
The equation of a line is given by:
y = mx + b; where m is the slope of the line, b is the y intercept.
Given that the price of product X is $2 while the price of Y is $1 and Mr. Mo has $100 to spend. Therefore:
a) 2x + y = 100
y = -2x + 100
The slope of Mr. Mo budget constraint is -2
b) 2x + y = 100
c) If x = 10, to find the combination, substitute x = 10 and find y:
2x + y = 100
2(10) + y = 100
y + 20 = 100
y = 80
That is 10 units of x and 80 units of Y
d) 2x + 2y = 100
2y = -2x + 100
y = -x + 50
The slope of Mr. Mo budget constraint is -1
The budget constraint is 2x + 2y = 100
If x = 10, to find the combination, substitute x = 10 and find y:
2x + 2y = 100
2(10) + 2y = 100
2y + 20 = 100
2y = 80
y = 40
That is 10 units of x and 40 units of Y
e) The graph was drawn using geogebra online graphing calculator and it is attached
Suppose eggs are only sold by the dozen and priced in whole dollar amounts. No eggs are demanded at a price above $7 per dozen. At a price equal to $7 per dozen, 10 dozen eggs are demanded. If the price falls to $6 per dozen, then 11 dozen are demanded. At a price of $5 per dozen, 12 dozen are demanded. When the price falls to $4 then 13 dozen are demanded. Suppose also that this market is operating in the short run and the quantity of eggs supplied is fixed at 12 dozen eggs. What are the equilibrium price and quantity in this market?
Answer:
$5
12
Explanation:
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
from the question, the following table can be determined
P Qd Qs
$7 10
$6 11
$5 12 12
$4 13
At equilibrium price, quantity demanded equal quantity supplied. this price is $5 and quantity is 12
You are considering an investment that promises to pay $1,000 per year for the next 10 years. The interest rate associated with investments having similar risk is 6.0%. How much would you be willing to pay for this investment
Answer:
$7360.09
Explanation:
the amount i would be willing to pay can be determined by calculating the present value of the cash flows
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow each year from year 1 to 10 = 1000
I = 6%
PV = $7360.09
To determine 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.
A small business sold an equipment for $30,000 after depreciating the equipment using the MACRS depreciation method. The applicable federal tax rate for the company is 39%. The federal tax liability on this depreciation recapture is $10,200 if the company also had other taxable income of $200,000 in that year.
a. True
b. False
On June 8, Williams Company issued an $82,710, 10%, 120-day note payable to Brown Industries. Assuming a 360-day year for your calculations, what is the maturity value of the note
Answer: $85467
Explanation:
The information given from the question is written below:
Notes payable = $82710
Interest rate = 10%
Then, we will first calculate the interest expense which will be:
= $82710 × 10% × 120/360
= $82710 × 0.1 × 0.3333333
= $2757
Then, the maturity value will be:
= $82710 + $2757
= $85467
The primary purpose for using the the mean absolute error (MAE) in forecasting is to: A. remove forecast error B. estimate the trend line C. estimate forecast error D. seasonally adjust the forecast
Answer:
measure forecast accuracy
Explanation:
The main purpose for using the mean absolute error is to do the forecast in an accurate manner. Also, it provides the measure for total forecast error for the given model
Therefore as per the given situation, the above represent the answer as neither it remove the error, nor estimated the trend line, etc
So, the same should be considered
