Answer:
Basic earnings per share(EPS)=$2.90
Explanation:
Earnings per share is the total earnings attributable to ordinary shareholders divided by the number of units of common stock .
It represents profit per unit of stock unit held by common stock holder investor. The higher, the more profitable and the better.
Earnings per share = Earnings attributable to ordinary shareholders / units of common stock
Earnings attributable to ordinary shareholders= Net income after tax - preference dividend
Net Income 2021= $590,000=
Preference Dividend =$2 × 19,000=$38,000
Earnings attributable to ordinary shareholders for 2021=
=$590,000-$38,000=$552,000
Basic Earnings per share=$552,000/190,000 shares=$2.90
Basic earnings per share(EPS)=$2.90
Though unions can negotiate pay increases for their members, their actions can have unintended consequences for workers. Identify all such possible ones from the list below. It is possible that there is more than one correct answer.
(a) Firms could possibly respond to unions demands for higher wages by hiring fewer workers.
(b) Firms could possibly respond to unions demands for higher wages by substituting capital for labor.
(c) Unions always drive down firms profits.
(d) Higher rates of union membership always diminish aggregate levels of economic output.
Answer:
(a) Firms could possibly respond to unions demands for higher wages by hiring fewer workers.
(b) Firms could possibly respond to unions demands for higher wages by substituting capital for labor.
Explanation:
Unions are formed to work toward better working conditions and welfare of staff.
Workers act collectively to negotiate better terms of employment with the employers.
However when unions try to negotiate for increased pay the employer may take different actions that will bad for the employee.
The employer may decide to actually pay the higher wage but hire fewer workers. This is usually the case when higher wages for many employees will result in loss for the employer.
Secondly the employer may substitute capital for labour. For example investing more in use of machines and reducing labour.
From the employer's viewpoint this will result in lower labour cost due to higher wage payment
if the market price of common stock increases substantially, bondholders with convertible bonds benefit. convertible bonds can be converted into common stock at the option of the issuing company. bondholders with convertible bonds receive interest on the bonds until conversion. convertible bonds sell at a higher price and pay a lower rate of interest than those without the conversion option.
Answer:
if the market price of common stock increases substantially,
bondholders with convertible bonds benefit.
Explanation:
A convertible bond is a fixed interest debt security. The number of common shares into which it can be converted is predetermined at the issuance date. While the conversion can be done at certain time in the life of the bond, the decision to convert is usually at the discretion of the bondholder. As investors, bondholders opt to convert when it would be most profitable. This happens when the market price of the common stock increases.
In divisional income statements prepared for Lemons Company, the Payroll Department costs are allocated to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are allocated on the basis of the number of purchase requisitions. The Payroll Department had costs of $62,928, and the Purchasing Department had expenses of $29,480 The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records:
Residential Commercial Government Contract
Sales $2,000,000 $3,250,000 $2,900,000
Weekly payroll (52 weeks per year) 400 250 150
Monthly payroll 80 30 10
Number of purchase requisitions per year 7,500 3,000 2,000
Required:
a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division.
b. Using the activity base information in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, Commercial, and Government Contract divisions from payroll and purchasing services.
c. Residential's service department charge is _______ than the other two divisions because Residential is a user of service department services. Residential has many employees on a weekly payroll, which translates into a ________ number of payroll transactions.
Answer:
Lemons Company
a. Total amount of payroll checks = 920
amount of purchase requisitions = 12,500
b-a Residential Commercial Government Total
Payroll $32,832 $19,152 $10,944 $62,928
b-b Purchasing
Costs $17,688 $4,717 $7,075 $29,480
c. Residential's service department charge is __higher__ than the other two divisions because Residential is a user of service department services. Residential has many employees on a weekly payroll, which translates into a __higher__ number of payroll transactions.
Explanation:
a) Data and Calculations:
Cost of the Payroll Department = $62,928
Cost of the Purchasing Department = $29,480
Residential Commercial Government Total
Contract
Sales $2,000,000 $3,250,000 $2,900,000 $8,150,000
Weekly payroll
(52 weeks per year) 400 250 150 800
Monthly payroll 80 30 10 120
Total 480 280 160 920
Number of purchase
requisitions per year 7,500 3,000 2,000 12,500
a. Total amount of payroll checks = 920 (800 + 120)
Total amount of purchase requisitions = 12,500
b-a Residential Commercial Government Total
Payroll $32,832 $19,152 $10,944 $62,928
(480/920 * $62,928) (280/920 * $62,928) (160/920 * $62,928)
b-b Purchasing
Costs $17,688 $4,717 $7,075 $29,480
(7,500/12,500 * $29,480) (2,000/12,500 * $29,480) (3,000/12,500 * $29,480)
Total $50,520 $23,869 $18,019 $92,408
Percentage 54.7% 25.8% 19.5% 100%
Trends such as more frequent shipments, lighter-weight shipments, and higher-value shipments:_________
a. help standardize rates on air and ocean shipments for incoming and outgoing freight
b. make ocean freight more effective than it has been in the past
c. increase the growth of airfreight traffic
d. have decreased the cost of containerization
Answer:
B
Explanation:
B is the answer I am not 100 percent sure
Match the title of the employment-related law to its description. Each label is used only once.
a. This law protects the workers from physical dangers while performing their jobs.
b. This law states that pensions need to be funded properly and directs that employees be kept informed about their pensions.
c. This law placed limits on child labor and set a minimum wage in the United States.
d. This law gives workers the right to take up to 12 weeks of unpaid leave per year for family reasons.
1. Pension Protection Act of 2006
2. Family and Medical Leave Act of 1993
3. Occupational Health and Safety Act of 1970
4. Fair Labor Standards Act of 1938
Answer:
a. This law protects the workers from physical dangers while performing their jobs. = Occupational Health and Safety Act of 1970
b. This law states that pensions need to be funded properly and directs that employees be kept informed about their pensions. = Pension Protection Act of 2006.
c. This law placed limits on child labor and set a minimum wage in the United States. = Fair Labor Standards Act of 1938.
d. This law gives workers the right to take up to 12 weeks of unpaid leave per year for family reasons. = Family and Medical Leave Act of 1993.
Dixie Chicken is about to close one of its fast food franchises. As part of the closing, the firm will sell a refrigeration unit and its cooking units. The book value of the refrigeration unit is currently $18,203.00, while the book value of the cooking unit is $3,713.00. A buyer has offered $12,454.00 for the refrigerator and $6,116.00 for the cooking unit. The tax rate facing the firm is 35.00%. What is the cash flow from selling these assets
Answer:
$19741.10
Explanation:
Cash flow from the sale = salvage value - tax(salvage value - book value)
Salvage value is the price at which the asset is sold
The refrigerator : $12,454.00 -0.35($12,454.00 - $18,203.00) = $14,466.15
$6,116.00 - 0.35($6,116.00 - $3,713.00) = $5274.95
Total cash flow = $5274.95 + $14,466.15 = $19741.10
Presented below is a list of items that could be included in the intangible assets section of the balance sheet. Choose the items that meet the qualifications to be treated as an intangible asset on the balance sheet.
a. Unsuccessful legal defense costs of trademark
b. Legal costs in securing copyright
c. Purchased patent
d. Investment in subsidiary
e. Filing fees for patent
f. Purchase of a franchise
g. Successful legal defense costs for copyright
h. Research costs for new drug
i. Sale of a franchise
j. Internal development costs for patent
k. Purchased copyright
l. Initial training costs for startup of new business
Answer:
Intangible Assets:
c. Purchased patent
f. Purchase of a franchise
k. Purchased copyright
Explanation:
Intangible assets are financial resources that have no physical properties. They must be acquired by the entity as a result of past events to be recognized. Examples of intangible assets are Brands, Goodwill, Intellectual properties (e.g. Trade Secrets, Patents, Trademark, and Copyrights), Licensing rights, Customer lists, and qualified R&D.
They are usually amortized over their estimated useful life. Annually, the entity must carry out impairment tests to determine if there is an impairment loss, especially for indefinite intangible assets which are not amortized.
The legal costs are not intangible assets on their own but can be capitalized. This means that they can be included in the affected intangible assets.
Suppose that the residents of Colgateville play golf incessantly. In fact, golf is the only thing they spend their money on. They buy golf balls, clubs, and tees. In 2019, they bought 1,000 golf balls for $2.00 each, 100 clubs for $50.00 each, and 500 tees for $0.10 each. In 2020, they bought 1,000 golf balls for $2.50 each, 100 clubs for $75.00 each, and 500 tees for $0.12 each. Using 2010 as the base year, answer the following questions.
a. What was the CPI for 2019?
b. What was the CPI for 2020?
c. What was the inflation rate in 2020?
Answer:
a. The CPI for 2019 is 100 because 2019 is the base year
b. CPI = Cost of basket of goods at current year prices/Cost of basket of goods at base year prices * 100
CPI = (1,000*$2.50) + (100*$75) + (500*$0.12) / (1,000$2.50) + (100*$50) + (500*$0.10) * 100
CPI = 10,060/7,550 * 100
CPI = 133.2450331125828
CPI = 133.25
c. Inflation rate = CPI in the current rate - CPI in previous year / CPI in previous year * 100
Inflation rate = 133.25 - 100/133.25 * 100
Inflation rate = 0.24953096 * 100
Inflation rate = 24.95%
Oriole Corporation has retained earnings of $682,100 at January 1, 2020. Net income during 2020 was $1,558,700, and cash dividends declared and paid during 2020 totaled $81,300. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $89,160 (net of tax) was charged to maintenance and repairs expense in 2019.
Answer:
$2,248,660
Explanation:
According to the scenario, computation of the given data are as follows,
Particulars Amount
Retained Earning $682,100
Correction of repairs expense (Add) $89,160
Net income (Add) $1,558,700
Dividend Paid (Less) $81,300
Net retained earning $2,248,660
how market forces would act to return the market to state of equilibrium at the new equilibrium position.
Answer:
market forces would shift upwards or downwards
Explanation:
during a situation of high demand, supply would shift to the right in order to achieve more sales or in a situation of high supply the demand can be shifted to the right by decreasing prices. At low supply demand can be shifted leftwards by increasing prices and when demand is lower, supply falls due to lower sales
Market factors would change to the upside or downside would act to return the market to state of equilibrium at the new equilibrium position.
What do you mean by equilibrium?When economic forces are in balance, there is said to be an economic equilibrium. In the absence of outside influences, economic variables essentially hold true to their equilibrium levels. Market equilibrium and economic equilibrium are two different concepts.
The set of economic factors that the economy is normally driven toward by supply and demand and other conventional economic processes is known as economic equilibrium.
The concept of economic equilibrium can also be used to describe a wide range of elements, including interest rates or overall consumer spending.
The point of equilibrium denotes a theoretical state of rest where all economic activities that "should" occur have actually happened, given the initial conditions of all significant economic variables.
Economists who think of economic processes as akin to physical phenomena like velocity, friction, heat, or fluid pressure draw the notion of equilibrium from the physical sciences. Nothing else changes once a system's physical forces are in equilibrium.
Learn more about equilibrium, here
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You are Heidi Ganahl, CEO and Founder of Camp Bow Wow, and you are intending to expand the brand to new global locations. If you are expanding into a country that values humane-oriented leadership, which of the following behaviors is most in line with that perspective?
a. You implement weekly team building session to create a collaborative work environment.
b. You involve all employees in all decisions, ensuring that everyone participates in the decision making process.
c. You articulate a dear vision for changing the organization so that it will focus on consistently delivering high levels of performance.
d. You provide compassionate support when an employee is having difficulty with family issues.
Answer:
a. You implement weekly team building session to create a collaborative work environment.
Explanation:
Humane-oriented leadership may be defined as that kind of leadership which reflects the supportive as well as considerate leadership. It also exhibits the qualities of generosity, compassionate and modesty towards the humane employees or the work force.
In the context, Camp Bow Wow is expanding its brand in a new country which values humane-oriented leadership qualities. So implementing a team building session every week in order to create a collaborative work environment reflects the qualities of humane-oriented leadership of the brand.
A. When You implement weekly team building sessions to make a collaborative work environment.
Humane-oriented leadership
Humane-oriented leadership is also defined as that sort of leadership that reflects the supportive further as considerate leadership. It also exhibits the qualities of generosity, compassion, and modesty towards the humane employees or the workforce.
In this context, When Camp Bow Wow is expanding its brand in a new country that is the values are human-oriented leadership qualities. So implementing a team-building session each week to form a collaborative work environment reflects the qualities of human-oriented leadership of the brand.
Thus, the Correct option is A
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The Wiz Co. owes $60 to its bondholders for the payment of principal and interest. The company expects to have a cash flow of $136 if the economy continues as it is but that cash flow will decrease to $54 if the economy enters a recession. Should the company ever face the real possibility of bankruptcy, it will incur legal and other fees of $30. What amount will the bondholders be paid in the case of a recession
Answer:
$24
Explanation:
Cashflow If economy as it is = $136
Cashflow if economy in recession = $54
In the event that the company goes bankrupt due to the recession, it will have to pay $30 in legal and other costs, so the company will set aside $30.
So, Bondholders payment = Cashflow in recession - legal & other cost
= $54 - $30
= $24
Hence, the bondholders will be paid $24 in the case of a recession.
Estimated Income Statements, using Absorption and Variable Costing
Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results:
Sales (15,200 x $53) $805,600
Manufacturing costs (15,200 units):
Direct materials 484,880
Direct labor 115,520
Variable factory overhead 53,200
Fixed factory overhead 63,840
Fixed selling and administrative expenses 17,400
Variable selling and administrative expenses 21,000
1. Prepare an estimated income statement, comparing operating results if 40,000 and 50,000 units are manufactured in the absorption costing format.
2. Prepare an estimated income statement, comparing operating results if 15,200 and 16,800 units are manufactured in the variable costing format.
Answer:
Marshall Inc.
1. Estimated Income Statement for the year ending October 31 (Absorption Costing)
Sales volume 40,000 Units 50,000 Units
Sales Revenue $2,120,000 $2,650,000
Cost of goods sold:
Direct materials ($31.90 per unit) 1,276,000 1,595,000
Direct labor ($7.60 per unit) 304,000 380,000
Variable factory overhead ($3.50 per unit) 140,000 175,000
Fixed factory overhead 63,840 63,840
Total cost of goods sold $1,783,840 $2,213,840
Gross profit $336,160 $436,160
Expenses:
Fixed selling & administrative expenses 17,400 17,400
Variable selling & administrative expenses 55,263 69,079
Total selling & administrative expenses $72,663 $86,479
Net income $263,497 $349,681
2. Estimated Income Statement for the year ending October 31 (Variable Costing)
Sales volume 15,200 Units 16,800 Units
Sales Revenue $805,600 $890,400
Cost of goods sold:
Direct materials ($31.90 per unit) 484,880 535,920
Direct labor ($7.60 per unit) 115,520 127,680
Variable factory overhead ($3.50 per unit) 53,200 58,800
Variable selling & administrative expenses 21,000 23,210
Total Variable costs $674,600 $745,610
Gross profit $131,000 $144,790
Fixed Expenses:
Fixed selling & administrative expenses 17,400 17,400
Fixed factory overhead 63,840 63,840
Total fixed expenses $81,240 $81,240
Net income $49,760 $63,550
Explanation:
a) Data and Calculations:
Estimated Operating Results
Sales (15,200 x $53) $805,600
Manufacturing costs (15,200 units):
Direct materials 484,880 ($31.90 per unit)
Direct labor 115,520 ($7.60 per unit)
Variable factory overhead 53,200 ($3.50 per unit)
Fixed factory overhead 63,840
Fixed selling and administrative expenses 17,400
Variable selling and administrative expenses 21,000
Vector Technology is suffering from cyber-loafing, which is employee use of work internet access for personal use. Can you lead a task force in creating a new social media policy for Vector before productivity drops even further? Keep in mind that you don't want to create employee backlash! Instructor Instructions: Please review the instruction and respond to the questions for this homework assignment.
Answer:
New social media policy about the internet usage should be implemented with strict internal controls so that there is no back loafing again by the employees in the organization.
Explanation:
Cyber loafing is Internet back loafing when employees are using company's internet access for personal use or for a second job. Some organizations do allow personal use of internet but to some extent and it should be monitored. When employees find loopholes in the company's internal controls they will create some opportunity for fraud. The internet access given to employees should be monitored carefully and there should be strict internal controls so that any misuse is avoided.
Hinck Corporation reported net cash provided by operating activities of $361,200, net cash used by investing activities of $150,800 (including cash spent for capital assets of $206,000), and net cash provided by financing activities of $78,900. Dividends of $126,900 were paid.
Answer:
$28,300
Explanation:
Missing word: "Calculate free cash flow."
Free cash flow = Operating cash flow - Capital expenditures - Dividends
Free cash flow = $361,200 - $206,000 - $126,900
Free cash flow = $28,300
So, the Free cash flow of Hinck Corporation is $28,300.
Write a professional 1 page memo that responds to this problem.
Jack Jones is an employee who performs below expected levels. You hired Jack because he was highly qualified for the job, and he used to be an excellent worker. He has a personality that fits well in your company, and you want to keep him. Lately, Jack has been regularly late to work, misses work often, and spends a lot of time away from his desk when he is at work. As the department manager, you are in charge of communicating the news to Jack as well as providing him a feasible plan for improving his work performance.
Solution :
Memo
From : Department Manager
Date : 01 May 2021
Subject : Improvement of Performance
This is to inform you that I have lately noticed that you have not able to meet the goal for the last 6 months and your average is average. I see that you are an excellent worker and have doing good but lately your performance level is not up to the mark. Also you are not punctual at your job which may hamper your appraisal or your incentives.
So going forward, I would like to ask you to be regular to work and work effectively for your overall growth. I would suggest you to be on time at work at complete your daily task for the day to achieve your targets. Your can also seta goal for the day so that your targets are achieved.
You are a true asset to the organization and we believed that your efforts will help you to grow and learn more.
I have attached a file which shows your performance for the last 6 months and also a feedback on how to improve.
Revert if there is any query.
Best Regards
Department Manager
can anyone share important questions on Managerial Information Systems??
i need it for preparing
for my exams
Explanation:
(1) designing systems that are competitive and efficient; (2) understanding the system requirements of a global business environment; (3) creating an information architecture that supports the organization's goals; (4) determining the ...
The following selected transactions relate to liabilities of Rocky Mountain Adventures. Rocky Mountain's fiscal year ends on December 31.
January 13: Negotiate a revolving credit agreement with First Bank that can be renewed annually upon bank approval. The amount available under the line of credit is $10 million at the bank's prime rate.
February 1: Arrange a three-month bank loan of $4.3 million with First Bank under the line of credit agreement. Interest at the prime rate of
7% is payable at maturity.
May 1: Pay the 7% note at maturity.
Record the appropriate entries, if any, on January 13, February 1, and May 1.
Answer: See explanation
Explanation:
The appropriate entries will be recorded thus:
13 Jan No entry
1 Feb Debit Cash account $4,300,000
Credit Note payable $4,300,000
(For note issued on borrowing)
1 May Debit Interest Expense $4,300,000 × 7% × 3/12 = $75250
Debit Notes payable $4,300,000
Credit Cash account $4,375,250
(For amount paid on maturity)
Stormy Corporation has two service departments (S1 and S2) and two production departments (P1 and P2), and uses the step-down method of cost allocation. Management has determined that S1 provides more service to the firm than S2, and has decided that the number of employees is the best allocation base to use for S1. The following data are available:
Department Number of Employees
S1 10
S2 20
P1 50
P2 70
Which of the following statements is (are) true if S1 and S2 have respective operating costs of $280,000 and $350,000?
Multiple Choice
A. S2 should allocate a portion of its $350,000 cost to S1.
B. S1's cost should be allocated (i.e., spread) over 140 employees.
C. S1's cost should be allocated (i.e., spread) over 150 employees.
D. S2 should allocate a total of $390,000 to P1 and P2.
E. Both S1's cost should be allocated (i.e., spread) over 140 employees and S2 should allocate a total of $390,000 to P1 and P2.
Answer:
E. Both S1's cost should be allocated (i.e., spread) over 140 employees and S2 should allocate a total of $390,000 to P1 and P2.
Explanation:
As S1 gives more service, So it would be allocated first
Here
S1 cost of $280,000 would be allocated to S2 P1 and P2 based on number of employees
The total employees in S2 P1 and P2 is
= 20 + 50 + 70
= 140
And, the Cost to be allocated per employee is
= $280,000 ÷ 140
= $2,000
Now cost received by S2 is
= $2,000 × 20
= $40000
And, the cost received by P1 is
= $2,000 × 50
= $100,000
And, the cost received by P2 is
= $2,000 × $70
= $140,000
Now
S2 contains total cost of
= $350,000 + $40,000 (from S1)
= $390,000
So this would be allocated to P1 and P2 as S1 has already allocated
Hence, option D is correct
7.) Geometry: Which set of ordered pairs can be connected in order to
form a right triangle?*
A. (-1,3), (-1,-1), (2, -1)
B. (-4, 0), (0, 1), (1,2)
O C. (2, 2), (2, -2), (-2,-2), (-2, 2)
D. (0,5), (-3, 3), (3,-3)
What’s the answer
Answer:
C. (2,2), (2,-2), (-2,-2), (-2,2)
sorry if it's wrong
brainiest please
Why do governments usually support and regulate natural monopolies?
A two or more firms are cost-prohibitive
B competition makes prices lower in a natural monopoly
C owners of natural monopolies do not know how to manage them efficiently
D itis difficult to keep up with advancing technology
Answer:
c
Explanation:
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region. there is no competition in a natural monopoly so prices tend to be high. government intervenes in a monopoly to ensure that customers are treated fairly
The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies. Gecko pays no dividend, whereas Gordon has an expected dividend yield of 6 percent. Suppose the capital gains tax rate is zero, whereas the income tax rate is 40 percent. Gecko has an expected earnings growth rate of 10 percent annually, and its stock price is expected to grow at this same rate.
Required:
If the aftertax expected returns on the two stocks are equal (because they are in the same risk class), what is the pretax required return on Gordon’s stock?
Answer:
12.4%
Explanation:
After-Tax Return = Capital Gains Growth Rate (g) + Dividend Yield*(1-Tax Rate)
Capital Gains Growth Rate (g) = After-Tax Return - Dividend Yield*(1-Tax Rate)
Capital Gains Growth Rate (g) = 10 - 6*(1-40%)
Capital Gains Growth Rate (g) = 6.4%
Pre-Tax Return = Capital Gains Growth Rate (g) + Dividend Yield
Pre-Tax Return = 6.4% + 6%
Pre-Tax Return = 12.4%
Hence, the pretax required return on Gordon’s stock is 12.4%
Last year, Valley Manufacturing reported sales of $800,000, net operating income of $40,000, and average operating assets of $400,000. The company is considering the purchase of equipment that will reduce expenses by $20,000. The equipment will increase average operating assets by $100,000 and be purchased by issuing a notes payable. Sales will remain unchanged. If Valley accepts the project, its return on investment (ROI) after the purchase is projected to
Answer:increase, 10%, 12%
Explanation:
The statement of cash flows (as well as the balance sheet) includes within cash the notion of cash equivalents. The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required: 1. Obtain the relevant authoritative literature on cash equivalents using the FASB Accounting Standards Codification at the FASB website (www.fasb.org). What is the specific seven-digit Codification citation (XXX-XX-XX) that describes the guidelines for determining what items should be deemed cash equivalents
Answer: FASB ACS 305-10-20
Explanation:
The FASB Accounting Standards Codification simply refers to the source with regards to accounting principles that are generally accepted.
It should be noted that the specific seven-digit Codification citation that describes the guidelines for determining the items that should be deemed cash equivalents is FASB ACS 305-10-20. The main guideline contained here is that cash equivalents can be changes easily to cash.
Oering's Furniture Corporation is a Virginia-based manufacturer of furniture. In a recent year, it reported the following activities:
Net income $5,135
Purchase of property, plant, and equipment 1,071
Borrowings under line of credit (bank) 1,117
Proceeds from issuance of stock 11
Cash received from customers 37,164
Payments to reduce long-term debt 46
Sale of marketable securities 219
Proceeds from sale of property and equipment 6,894
Dividends paid 277
Interest paid 90
Purchase of treasury stock (stock repurchase) 2,583
Required:
Based on this information, present the cash flows from investing and financing activities sections of the cash flow statement. (List cash outflows as negative amounts.)
Answer:
Cash flows from investing activities
Purchase of property, plant, and equipment (1,071)
Sale of marketable securities 219
Proceeds from sale of property and equipment 6,894
Net Cash from investing activities 6,042
Cash flows from financing activities
Borrowings under line of credit (bank) 1,117
Proceeds from issuance of stock 11
Payments to reduce long-term debt (46)
Dividends paid (277)
Purchase of treasury stock (stock repurchase) (2,583)
Net Cash used by financing activities
Explanation:
The cash flows from investing and financing activities sections of the cash flow statement are presented as above.
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 19,000 defective units that cost $5.40 per unit to manufacture. The units can be a) sold as is for $3.50 each, or b) reworked for $4.60 each and then sold for the full price of $8.90 each. What is the incremental income from selling the units as scrap and reworking and selling the units
Answer:
Incremental income as scrap=$66,500
Incremental income when re-worked= $81,700
Explanation:
Unit contribution from selling as scrap is the equal to the scrap value = 3.50
Unit contribution when reworked and sold as scrap =Selling price - cost of re-work= $8.90-4.60= $4.3
Incremental income as scrap = $3.50×19,000= $66,500
Incremental income when re-worked= $4.3 × 19,000 = $81,700
Incremental income as scrap=$66,500
Incremental income when re-worked= $81,700
Branch Adjustment account is in the nature of :
Real account
O Nominal account
Personal account
>
O None of these
Answer:
B. Nominal Account.
Explanation:
Branch accounting is a system of bookkeeping that uses a system of separate branch accounting. This branch is also known as the operating locations of an organization.
The account which uses branch adjustment accounting is a nominal account. The nominal account is the general ledger account that closes its account at the end of every year, using branch accounting.
Therefore, option B is correct.
Write a paragraph about Bad customer service
Answer:
Bad customer service can be defined as when a business fails to meet the customer expectations in terms of service quality, response time, or overall customer experience. ... According to NewVoiceMedia, an estimated $62 billion is lost by U.S. businesses each year following negative customer experiences.Poor customer service can cause employees of a business to feel insecure and unhappy at work. Nobody likes being subject to anger from unpleased customers and without sufficient strategies in place to deal with these complaints, employees are far more likely to feel dissatisfied with their job As a condition of being allowed to apply for a job with Good Hands Industries, Charles is asked to waive his right to object to workplace searches. After signing the waiver, he is offered a job, and he accepts it. Sometime later, he is subjected to a search. If Charles seeks legal redress on the grounds that the search violated his privacy rights, his employer:_________-
A. will be unable to successfully assert the waiver as a defense because it was not given voluntarily.
B. will be unable to successfully assert the waiver as a defense because Charles did not grant it intentionally.
C. will be unable to successfully assert the waiver as a defense because it was given by Charles prior to his job offer.
D. will be able to successfully assert the waiver as a defense because it was given in exchange for valuable consideration.
Answer:
The answer is C (will be unable to successfully assert the waiver as a defense because it was given by Charles prior to his job offer).
Explanation:
In the employment setting, there are instances where an employer could violate an employee privacy right. For instance, the Fourth Amendment’s prohibition on unreasonable search and seizure could be very strict on a public employer compared to a private employer where the private employers are given some degree of power too. Searching employees without their consent would be directly proportional to their breach of privacy that they have right to. Charles seeking legal redress is permitted since he initially signed to waive his right to object to workplace searches prior to his job offer. At every point where workplace searches is required by the employer especially when the searches are not done at public open places, the employee consent should be required too.
Swifty Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $26 per year. During November 2019, Swifty sells 27,120 subscriptions beginning with the December issue. Swifty prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue.
1. Prepare the entry in November for the receipt of the subscriptions (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
2. Prepare the adjusting entry at December 31, 2015, to record sales revenue recognized in December 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
A. Dr Cash $705,120
Cr Unearned subscription revenue
B. Dr Unearned subscription revenue $58,760
($705,120 *1/12)
Cr Subscription revenue $58,760
Explanation:
a) Preparation of the entry in November for the receipt of the subscriptions
Dr Cash $705,120
(27,120*$26)
Cr Unearned subscription revenue $705,120
(To record the receipt of the subscriptions)
b) Preparation of the adjusting entry at December 31, 2015, to record sales revenue recognized in December 2015
Dr Unearned subscription revenue $58,760
($705,120 *1/12)
Cr Subscription revenue $58,760
(To record sales revenue recognized)
