Answer:
Classical probability
Explanation:
Classical probability is calculated only when all possible outcomes in the sample space are down and equally likely to occur. It is the probability of known events or events whose resulting probabilities are definitive
For example, students are either left-handed, right-handed or ambidextrous
Subjective probability is a guess on the likelihood an event would occur.
Experimental probability is the probability derived by repeatedly carrying out an experiment and recording the outcomes
Dianne Ruth withdrew $8,000 from her educational savings account and used $6,000 to pay for qualified higher education expenses. The remaining balance of $2,000 was used to purchase clothes. On the date of the distribution, her educational savings account had $25,000 balance including $20,000 she had contributed.
How much of the $8,000 is tax free?
Answer:
$7,600
Explanation:
Calculation to determine How much of the $8,000 is tax free
Step 1 is to calculate the % using this formula
%=Savings ratio ROC Contributed/Total balance
Let plug in the formula
%=$20,000/$25,000
%= .80*100
%=80%
Step 2 is to calculate the ROC tax free using this formula
ROC tax free=% x Distribution
Let plug in the formula
ROC tax free=.80x 8000
ROC tax free=$6,400
Step 3 is to Contained earnings in distribution using this formula
Contained earnings in distribution=Distribution - ROC tax free
Let plug in the formula
Contained earnings in distribution=$8,000-$6,400
Contained earnings in distribution= $1,600
Step 4 is to calculate Excludable earning using this formula
Excludable earning=(Qualified exp/distribution ) x Earning contained
Let plug in the formula
Excludable earning=($6,000/$8,000) x $1,600
Excludable earning= $1,20/
Step 5 is to calculate the Taxable amount using this formula
Taxable =Earnings - Excludable
Let plug in the formula
Taxable=$1,600-$1,200
Taxable =$400
Now let determine the Tax free using this formula
Tax free = Distribution- Taxable
Let plug in the formula
Tax free=$8,000- $400
Tax free=$7,600
Therefore How much of the $8,000 is tax free will be $7,600
1. Describe how a global project can be more complex than a project performed within just one country. How might these elements affect the successful outcome of the global project
Answer:
Globalization alters the project's characteristics. Multinational and multilingual initiatives are possible in global projects. Managers must be able to communicate with individuals from diverse nations.
A manager requires a different set of skills to manage projects on a global scale. The following are things he should be aware of:
Cultural sensitivity
Learn about the other organizations' traditions.
ability to operate in a fast-paced, unpredictably changing workplace
Create a productive team.
Develop a sense of trust
All of these elements are equally crucial for the project's worldwide success.
The initiatives that are held at a worldwide level are more difficult.
When President Obama was president he had discussed raising income taxes for individuals earning over $250,000 in income. Explain how these higher income taxes will affect the aggregate demand curve. What variables cause the short-run aggregate supply curve to shift
Answer:
A) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )
B)
i) Change in input price
ii) Change in production cost
iii) Increase in labor supply or increase in capital stocks
Explanation:
A) Effects of higher income taxes on aggregate demand curve
i) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )
B) The factors that will cause the short-run aggregate supply curve to shift
a) Change in input price
b) Change in production cost
c) Increase in labor supply or increase in capital stocks
Economists look at any situation in terms of its component parts: the people making decisions, the environment in which they're making those decisions, and the goods or services being exchanged. For example, think about doing your laundry. Which of the following laundry-related items are nondurable goods?
a. A washing machine
b. Having a pair of pants dry-cleaned
c. A T-shirt
d. A clothes dryer
¿sí se vende mercancía en que tipo de cuenta debe registrar el IVA de dicha compra?
a) ingreso
b) costo de venta
c) costo de producción
d) pasivo
Answer:
the answer is cost of buying or cost of production
la respuesta es el costo de compra o el costo de producción
Explanation:
i speak Spanish and business is pretty easy
Swifty Corporation took a physical inventory on December 31 and determined that goods costing $215,000 were on hand. Not included in the physical count were $27,000 of goods purchased from Marigold Corp., FOB, shipping point, and $20,000 of goods sold to Concord Corporation for $34,000, FOB destination. Both the Marigold purchase and the Concord sale were in transit at year-end.
Required:
What amount should Swifty report as its December 31 inventory?
Answer:
$262,000
Explanation:
Ending inventory = Goods on Hand + Cost Goods purchased from Marigold Corp + Cost of goods sold to Marigold Corp.
Ending inventory = $215,000 + $27,000 + $20,000
Ending inventory = $262,000
So, the amount that should Swifty report as its December 31 inventory is $262,000.
Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $16,000 estimated residual value. (Do not round intermediate calculations.)What should be the book value of (a) the land and (b) the building at the end of year 2
Answer:
Missing word "Bridge City Consulting bought a building and the land on which it is located for $120,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use."
Total Cost of Land and Building (100%) = $120,000
Cost of Land (70%) = $84,000
Cost of Building (30%) = $36,000
Cost of Building Renovations = $10,000
Total Cost of Building = $36,000 + $10,000
Total Cost of Building = $46,000
1. Annual Depreciation(Year End Depreciation) = (Cost of Building - Residual Value)/ Number of Year
Annual Depreciation = $46,000 - $16,000 / 10
Annual Depreciation = $30,000 / 10
Annual Depreciation = $3,000
2. Book Value of Land at the end of two years = $84,000
Book Value of Building at the end of two years = $46,000 - ($3,000*2 year) = $46,000 - $6,000 = $40,000
Hence, Book Value of Land and Building at the end of two year is = $84,000 + $40,000 = $124,000
Perit Industries has $110,000 to invest. The company is trying to decide between two alternative uses of the funds. The alternatives are:
Project A Project B
Cost of equipment required $110,000 $0
Working capital investment required $0 $110,000
Annual cash inflows $20,000 $68,000
Salvage value of
equipment in six years $8,600 $0
Life of the project 6 years 6 years
The working capital needed for project B will be released at the end of six years for investment elsewhere. Perit Industries’ discount rate is 16%.
Required:
1. Compute the net present value of Project A.
2. Compute the net present value of Project B.
3. Which investment alternative (if either) would you recommend that the company accept?
Answer:
$-32,775.48
$185,710.69
Project B
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.
Project A
Cash flow in year 0 = -$110,000
Cash flow in year 1 - 5 = $20,000
Cash flow in year 6 = $20,000 + $8,600 = 28,600
I = 16%
NPV = $-32775.48
Project B
Cash flow in year 0 = -$110,000
Cash flow in year 1 - 5 = $68,000
Cash flow in year 6 = $68,000 + $110,000 = $178,000
I = 16%
NPV = $185,710.69
Project B should be chosen because its NPV is positive
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
The partnership of Butler, Osman, and Ward was formed several years ago as a local tax preparation firm. Two partners have reached retirement age, and the partners have decided to terminate operations and liquidate the business. Liquidation expenses of $43,000 are expected. The partnership balance sheet at the start of liquidation is as follows:
Cash $39,000 Liabilities $179,000
Accounts receivable 69,000 Butler, loan 39,000
Office equipment (net) 59,000 Butler, capital (25%) 95,000
Building (net) 155,000 Osman, capital (25%) 39,000
Land 145,000 Ward, capital (50%) 115,000
Total assets $467,000 Total liabilities and capital $467,000
Required:
Prepare a predistribution plan for this partnership
Answer:
Butler, Osman, and Ward Partnership
Predistribution Plan:
Total assets realized (assumed) $467,000
Less liquidation expenses 43,000
Liabilities 179,000
Butler, loan 39,000
Cash available for distribution $206,000
Butler, capital (25%) 84,250 ($95,000 - $10,750)
Osman, capital (25%) 28,250 ($39,000 - $10,750)
Ward, capital (50%) 93,500 ($115,000 - $21,500)
Explanation:
a) Data and Calculations:
Expected liquidation expenses = $43,000
Cash $39,000
Accounts receivable 69,000
Office equipment (net) 59,000
Building (net) 155,000
Land 145,000
Total assets $467,000
Liabilities $179,000
Butler, loan 39,000
Butler, capital (25%) 95,000
Osman, capital (25%) 39,000
Ward, capital (50%) 115,000
Total liabilities and capital $467,000
Predistribution Plan:
Total assets realized (assumed) $467,000
Less liquidation expenses 43,000
Liabilities 179,000
Butler, loan 39,000
Cash available for distribution $206,000
Butler, capital (25%) 84,250 ($95,000 - $10,750)
Osman, capital (25%) 28,250 ($39,000 - $10,750)
Ward, capital (50%) 93,500 ($115,000 - $21,500)
b) Each partner will share in the liquidation expense according to their profits and losses sharing ratios. This will reduce their capital account balances and show the net cash they will collect upon liquidation. Note that this plan is based on the assumption that all the assets will be completely realized, that is, without any loss.
June:
1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30. The cost of merchandise sold was $54,000.
30 James Co. issued a 60-day, 5% note for $90,000 on account.
Aug. 29 James Co. paid the amount due.
Required:
Journalize the above transaction, 90,000 assuming a 360-day year is used for interest calculations.
Answer:
James Co. (Borrower)
June 1
Debit Merchandise Inventory $90,000
Credit Accounts Payable $90,000
June 30
Debit Accounts Payable $90,000
Credit Notes Payable $90,000
August 29
Debit Notes Payable $90,000
Debit Interest on Notes $750
Credit Cash Account $90,750
O’Leary Co. (Creditor)
June 1
Dr Accounts Receivable $90,000
Cr Sales $90,000
30
Dr Notes Receivable $90,000
Cr Accounts Receivable $90,000
Aug. 29
Dr Cash $90,750
Cr Notes Receivable $90,000
Cr Interest Revenue $750
Explanation:
Preparation of the journal entries
James Co. (Borrower)
June 1
Debit Merchandise Inventory $90,000
Credit Accounts Payable $90,000
(To record the purchase of merchandise on account)
June 30
Debit Accounts Payable $90,000
Credit Notes Payable $90,000
(To record the issue of a 60-day, 5% note)
August 29
Debit Notes Payable $90,000
Debit Interest on Notes $750
($90,000 * 5% * 60/360)
Credit Cash Account $90,750
($90,000+$750)
(To record the payment of the notes plus interest)
O’Leary Co. (Creditor)
June 1
Dr Accounts Receivable $90,000
Cr Sales $90,000
30
Dr Notes Receivable $90,000
Cr Accounts Receivable $90,000
Aug. 29
Dr Cash $90,750
($90,000+$750)
Cr Notes Receivable $90,000
Cr Interest Revenue $750
($90,000 * 5% * 60/360)
Find the APR, or stated rate, in each of the following cases (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.): Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) % Semiannually 10.7 % Monthly 11.6 Weekly 9.3 Infinite 13.0
Answer:
EAR = (1+APR/m)^m - 1 where m=compounding periods
1. 0.116 = (1+APR/2)^2 - 1
(1+0.116) = (1+APR/2)^2
(1.116)^(1/2) = 1+APR/2
APR = [(1.107)^(1/2) - 1]*2
APR = [1.05214067501 - 1]*2
APR = 0.05214067501 * 2
APR = 0.10428135002
APR = 10.43%
2. 0.116 = (1+APR/12)^12-1
APR = [(1+0.116)^(1/12)-1]*12
APR = [1.116^(1/12) - 1] * 12
APR = [1.00918785692 - 1] * 12
APR = 0.00918785692 * 12
APR = 0.11025428304
APR = 11.05%
3. 0.093 = (1+APR/52)^52 - 1
APR = [(1+0.093)^(1/52) - 1] * 52
APR = [1.093^(1/52) - 1] * 52
APR = [1.0017115825 - 1] * 52
APR = 0.0017115825 * 52
APR = 0.08900229
APR = 8.90%
The first step in the control process is ________. A) setting the desired morals
B) measuring actual performance
C) comparing performance against expectations D) applying managerial control
Answer:
comparing performance against expectations
Implement anyone principle from Industry 4.0 Six Design Principles on any organization?
Answer:
There is no principal in this room.
Explanation:
Come and get it https://app.conversion.ai/
Waggoner Company has a cash balance of $44,000 on April 1. The company is required to maintain a cash balance of $25,000. During April expected cash receipts are $174,000. Expected cash disbursements during the month total $200,800. During April the company will need to borrow:____.
a. $2,500.b. $3,500.c. $4,000.d. $6,000.
Answer: $7,800
Explanation:
The amount that the company needs to borrow can be found using the formula:
= Opening balance + Cash receipts - Cash to be maintained - Cash disbursement
= 44,000 + 174,000 - 25,000 - 200,800
= -$7,800
Amount to be borrowed is the shortfall of $7,800
Dristell Inc. had the following activities during the year (all transactions are for cash unless stated otherwise):
A building with a book value of $400,000 was sold for $500,000.
Additional common stock was issued for $160,000.
Dristell purchased its own common stock as treasury stock at a cost of $75,000.
Land was acquired by issuing a 6%, 10-year, $750,000 note payable to the seller.
A dividend of $40,000 was paid to shareholders.
An investment in Fleet Corp.’s common stock was made for $120,000.
New equipment was purchased for $65,000.
A $90,000 note payable issued three years ago was paid in full.
A loan for $100,000 was made to one of Dristell’s suppliers. The supplier plans to repay Dristell this amount plus 10% interest within 18 months.
Answer:
Net cash flows from financing activities = (45000)
Explanation:
Common stock issued 160000
Treasury stock purchased (75000)
Dividends paid (40000)
Note payable repaid (90000)
Net cash flows from financing activities
(45000)
Stout Corporation had net income of $200,000 and paid dividends to common stockholders of $40,000 in 2012. The weighted average number of shares outstanding in 2012 was 50,000 shares. Stout Corporation's common stock is selling for $75 per share on the New York Stock Exchange. Stout Corporation's price-earnings ratio is Group of answer choices 3.8 times. 15 times. 18.8 times. 12 times.
Answer:
18.8 times
Explanation:
Calculation to determine what Stout Corporation's price-earnings ratio is
Using this formula
Price-Earning Ratio = Price Per Share ÷ (Net Earnings ÷ Outstanding Shares)
Let plug in the formula
Price-Earning Ratio= $75 ÷ ($200,000 ÷ 50,000)
Price-Earning Ratio= 75 ÷ 4
Price-Earning Ratio= 18.75
Price-Earning Ratio=18.8 times (Approximately)
Therefore Stout Corporation's price-earnings ratio is 18.8 times
William owns 1 share of Park stock. He purchased the stock three years ago for $17.50. The stock is currently trading for $40 per share. The stock has paid the following dividends over the past three years. o Year 1: $1.00. o Year 2: $2.00. o Year 3: $3.00. What is the compounded rate of return (IRR) that William has earned on this investment
Answer:
sim eu também preciso desta respota
Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acquired $7,000 cash from the issue of common stock. 2. Borrowed $12,000 cash from the State Bank. 3. Collected $47,000 cash as a result of providing services to customers. 4. Paid $30,000 for operating expenses. 5. Paid an $8,000 cash dividend to the stockholders. 6. Paid $20,000 cash to purchase land.Required:a. Record the events in an accounting equation like the one shown next. Record the ined Earnings column. Provide the appropriate titles for these accounts in the last column of the table. The first event is shown amounts of revenue, expense, and dividends in as an example.b. As of December 31, Year 1, determine the total amount of assets, liabilities, and stockholders’ equity and prepare a balance sheet.c. What is the amount of total assets, liabilities, and stockholders’ equity as of January 1, Year 2?d. Assume that the land has a market value of $22,000 as of December 31, Year 1. At what amount will the land be shown on the December 31, Year 1, balance sheet? Why is this amount used in the balance sheet?
Answer:
Better Corp. (BC)
a. Accounting Equation
Assets = Liabilities + Equity
1. Cash $7,000 Common stock $7,000
2. Cash $12,000 Bank loan payable $12,000
3. Cash $47,000 Service Revenue $47,000
4. Cash ($30,000) Op. expenses ($30,000)
5. Cash ($8,000) Cash dividend ($8,000)
6. Land $20,000 Cash ($20,000)
Assets $28,000 = Liabilities $12,000 + Equity $16,000
b. December 31, Year 1 Balances:
Total assets = $28,000
Total liabilities = $12,000
Stockholders' equity = $16,000
Balance Sheet as of December 31, Year 1
Assets:
Cash $8,000
Land $20,000
Total assets $28,000
Liabilities:
Bank loan $12,000
Equity:
Common stock $7,000
R/Earnings 9,000
Total equity $16,000
Liabilities and
Equity $28,000
c. January 1, Year 2 Balances:
Total assets = $28,000
Total liabilities = $12,000
Total equity = $16,000
d. The Land will be shown on the December 31, Year balance sheet at $20,000. The reason is that this is the acquisition cost and the land is not held for trading (no information provided).
Explanation:
a) Data and Analysis based on the Accounting Equation:
1. Cash $7,000 Common stock $7,000
2. Cash $12,000 Bank loan payable $12,000
3. Cash $47,000 Service Revenue $47,000
4. Cash ($30,000) Operating expenses ($30,000)
5. Cash ($8,000) Cash dividend ($8,000)
6. Land $20,000 Cash ($20,000)
Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acquired $7,000 cash from the issue of common stock. 2. Borrowed $12,000 cash from the State Bank. 3. Collected $47,000 cash as a result of providing services to customers. 4. Paid $30,000 for operating expenses. 5. Paid an $8,000 cash dividend to the stockholders. 6. Paid $20,000 cash to purchase land.Required:a. Record the events in an accounting equation like the one shown next. Record the ined Earnings column. b. As of December 31, Year 1, determine the total amount of assets, liabilities, and stockholders’ equity and prepare a balance sheet.
c. What is the amount of total assets, liabilities, and stockholders’ equity as of January 1, Year 2?
d. Assume that the land has a market value of $22,000 as of December 31, Year 1. At what amount will the land be shown on the December 31, Year 1, balance sheet? Why is this amount used in the balance sheet?
Answer:
Better Corp. (BC)
a. Accounting Equation
Assets = Liabilities + Equity
1. Cash $7,000 Common stock $7,000
2. Cash $12,000 Bank loan payable $12,000
3. Cash $47,000 Service Revenue $47,000
4. Cash ($30,000) Op. expenses ($30,000)
5. Cash ($8,000) Cash dividend ($8,000)
6. Land $20,000 Cash ($20,000)
Assets $28,000 = Liabilities $12,000 + Equity $16,000
b. Total assets = $28,000
Total liabilities = $12,000
Stockholders' equity = $16,000
Balance Sheet as of December 31, Year 1
Assets:
Cash $8,000
Land $20,000
Total assets $28,000
Liabilities:
Bank loan $12,000
Equity:
Common stock $7,000
R/Earnings 9,000
Total equity $16,000
Liabilities and
Equity $28,000
c. Total assets = $28,000
Total liabilities = $12,000
Total equity = $16,000
d. The Land will be shown on the December 31, Year balance sheet at $20,000. The reason is that this is the acquisition cost and the land is not held for trading (no information provided).
Explanation:
a) Data and Analysis based on the Accounting Equation:
1. Cash $7,000 Common stock $7,000
2. Cash $12,000 Bank loan payable $12,000
3. Cash $47,000 Service Revenue $47,000
4. Cash ($30,000) Operating expenses ($30,000)
5. Cash ($8,000) Cash dividend ($8,000)
6. Land $20,000 Cash ($20,000)
On January 7, stockholders invest $45,000 in JumpStart in exchange for common stock. Provide the journal entry for this transaction.
Answer:
Dr Cash $45,000
Cr Common stock $45,000
Explanation:
Preparation of the journal entry
Based on the information given the appropriate Journal entry On January 7 since the stockholders invest the amount of$45,000 in JumpStart in exchange for common stock will be:
January 7
Dr Cash $45,000
Cr Common stock $45,000
(To record investment in JumpStart)
Venus International makes customized furniture and uses job order costing. During a period, its beginning raw materials inventory was $10,000. It purchased raw materials of $20,000 and ended the period with ending raw materials inventory of $3,000. What is the cost of raw materials transferred to Work in Process Inventory
Answer:
the cost of raw materials transferred to Work in Process Inventory is $27,000
Explanation:
The computation of the cost of raw materials transferred to Work in Process Inventory is shown below
= opening inventory + purchases made - ending inventory
= $10,000 + $20,000 - $3,000
= $27,000
Hence, the cost of raw materials transferred to Work in Process Inventory is $27,000
The same should be considered
You have just started a new job and plan to save $5,200 per year for 36 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 9.54 percent?
a. $1,331,411.17
b. $1,394,509.68
c. $1,346,423.14
d. $1,268,312.65
e. $1,333,878.83
Answer:
$1,394,509.68
Explanation:
Savings amount = $5200
Period = 36 years
Interest = 9.54 percent
We solve for the future value of the annuity
= $5200[(1+0.0954)³⁶-1/0.0954]
= 5200 x [1.0954³⁶-1/0.0954]
= 5200 x 268.1749
= 1,394,509.681 dollars
Therefore after retirement and at an interest rate of 9.54 percent, you would be earning 1,394,509.681 dollars.
Option b.
Tori Inc. has some material that originally cost $68,800. The material has a scrap value of $30,300 as is, but if reworked at a cost of $1,500, it could be sold for $31,600. What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as scrap? (CIMA adapted)
a. $(71,100)
b. $(1,100)
c. $29,800
d. $(40,200)
Answer:
($200)
Explanation:
Calculation to determine What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as scrap
Sales value of reworked material: $31,600
Less: Cost to rework material: $1,500
Net Sales Value: $30,100
Current Scrap Value: $30,300
Net Disadvantage: ($200)
($30,100-$30,300)
Therefore What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as scrap is ($200)
Assume that Germany and China can produce beer and cloth. If the MPLc/MPLb for Germany is 2/5 and the MPLc/MPLb for China is 1, then Germany should: _______
Answer: c. specialize in producing beer and export beer.
Explanation:
As per the Theory of Competitive Advantage posited by David Ricardo, a country should specialize in the good that it has a competitive advantage in. A country has a competitive advantage if it incurs a less opportunity cost in producing the good.
Opportunity cost of producing beer for Germany = MPLc/MPLb = 2/5
Opportunity cost of producing beer for China = MPLc/MPLb = 1
Germany has a lower cost of producing beer so they should specialize in this and export it.
A firm is considering expanding its current operations and has estimated the internal rate of return on that expansion to be 12.2%. The firm's WACC is 11.8%. Given this, you know that the: the project will have a lower debt-equity ratio than the firm's current operations. the appropriate discount rate for the project is between 11.8% and 12.2%. the project has slightly more risk than the firm's current operations. the expansion should be undertaken as it has a positive net present value.
Answer:
expansion should be undertaken as it has a positive net present value
Exercise 9-15A (Static) Using the current ratio to make comparisons LO 9-7 The following information was drawn from the balance sheets of the Kansas and Montana companies: Kansas Montana Current assets $ 59,000 $ 78,000 Current liabilities 40,000 43,000 Required a. Compute the current ratio for each company. b. Which company has the greater likelihood of being able to pay its bills
Answer:
a. 1.5 and 1.8
b. Montana
Explanation:
Below is the calculation for the current ratio:
a. Formula used, Current ratio = Current assets / Current liabilities
Current ratio of Kansas = 59000 / 40000 = 1.5
Current ratio of Montana = 78000 / 43000 = 1.8
b. The company that has a higher current ratio will have a greater likelihood to pay bills so Montana is the correct answer.
Mar. 1 CMS began operations by receiving $100,000 in cash. The business issued shares of common stock in exchange for this contribution. Mar. 1 CMS paid $1,200 for a 12 month insurance policy. The policy begins Mar. 1. Mar. 4 CMS guided a small rock climbing trip, receiving $20,000 payment in cash. Mar. 22 Collected $3,000 cash from customer on account. Mar. 24 Paid rent on their property, $4,000 cash. Mar. 27 Paid $1,000 cash on account. Mar. 31 Cash dividends of $2,500 were paid to stockholders.Prepare the bank reconciliation at March 31, 2021.
Journalize any required entries from the bank reconciliation.
Prepare a cash t-account to verify the balance of the account matches the adjusted book balance from the bank.
Answer:
Reconciled Bank Balance $114,300.
Explanation:
Cash for operations $100,000
Less: Insurance policy subscription $1,200
Add: Fee for services $20,000
Add: Cash Collection $3,000
Less: Rent expense $4,000
Less: Payment on account $1,000
Less: Cash Dividends paid $2,500
Reconciled Balance $114,300
Juanita is the sole shareholder of Belize Corporation (a calendar-year S corporation). She is considering revoking the S election. It is February 1, year 1. What options does Juanita have for timing the effective date of the S election revocation
Answer:
January 1 Year 2 would be an effective date.
Explanation:
Juanita have two ( 2 ) options and they are
Terminating the election after March 15th Terminating the Election at the beginning of the next Financial yearSince it is already February 1 Year 1 , The most effective date for the S election revocation would be January 1 year 2 ( calendar-year of S corporation ) .
hãy lựa chọn 1 công ty sử dụng dịch vụ nghiên cứu của marketing của các nhà cung cấp bên ngoài.
1. tìm hiểu lý do công ty phải thuê ngoài
2. những tổ chức nào đã cung cấp dịch vụ marketing cho công ty?
3. công ty thuê một phần hay thuê toàn bộ các hoạt động nghiên cứu marketing
Answer:
may I know which language
Doug Allen has decided to go into the insect extermination business and to operate as Doug's Extermination Service. The following transactions were completed during the first month of operations, May, 20--.
1. Doug invested $35,000 cash in the business.
2. Purchased extermination equipment for $17,000 in cash.
3. Paid $700 rent for garage and office quarters.
4. Purchased chemicals (expense) for $1,100 from Low Glow Chem Co. on account.
5. Received $1,600 revenue for extermination service.
6. Paid telephone bill, $120
7. Paid assistant's salary, $700.
8. Earned $980 revenue for extermination service, on account.
9. Paid electric bill, $230.
10. Paid for truck repairs (expense), $145.
11. Paid $600 to Low Glow Chem Co., on account.
12. Paid $131 for gas and oil for truck (expense).
13. Received $1,400 revenue for extermination service.
14. Received $500 for services previously earned on account in transaction (8).
15. Paid assistant's salary, $900.
Required:
Write the transactions in the T accounts, then write the total of each column. If an account has entries on both sides, determine the balance and enter it on the side with the larger total.
Answer:
Doug's Extermination Service
T-accounts:
Cash
Account Titles Debit Credit
Common stock $35,000
Extermination equipment $17,000
Rent 700
Extermination Revenue 1,600
Utilities Expense 120
Salary Expense 700
Utilities Expense 230
Truck Expenses 145
Accounts Payable (Low Glow) 600
Truck Expense 131
Extermination service 1,400
Accounts Receivable 500
Salary Expense 900
Balance $17,974
Common Stock
Account Titles Debit Credit
Cash $35,000
Extermination equipment
Account Titles Debit Credit
Cash $17,000
Rent Expense
Account Titles Debit Credit
Cash $700
Supplies Expense
Account Titles Debit Credit
Accounts payable $1,100
Accounts Payable (Low Glow Chem Co.)
Account Titles Debit Credit
Supplies Expense $1,100
Cash $600
Balance $500
Extermination Service Revenue
Account Titles Debit Credit
Cash $1,600
Accounts Receivable 980
Cash 1,400
Balance $3,980
Utilities Expense
Account Titles Debit Credit
Cash $120
Cash 230
Balance $350
Salary Expense
Account Titles Debit Credit
Cash $700
Cash 900
Balance $1,600
Accounts Receivable
Account Titles Debit Credit
Extermination Service Revenue $980
Cash $500
Balance $480
Truck Expenses
Account Titles Debit Credit
Cash $145
Cash 131
Balance $276
Explanation:
a) Data and Analysis:
1. Cash $35,000 Common Stock $35,000
2. Extermination equipment $17,000 Cash $17,000
3. Rent $700 Cash $700
4. Supplies Expense $1,100 Accounts Payable (Low Glow Chem Co.) $1,100
5. Cash $1,600 Extermination Service Revenue $1,600
6. Utilities Expense $120 Cash $120
7. Salary Expense $700 Cash $700
8. Accounts Receivable $980 Extermination Service Revenue $980
9. Utilities Expense $230 Cash $230
10. Truck Expenses $145 Cash $145
11. Accounts Payable (Low Glow Chem Co.) $600 Cash $600
12. Truck Expense $131 Cash $131
13. Cash $1,400 Extermination Service Revenue $1,400
14. Cash $500 Accounts Receivable $500
15. Salary Expense $900 Cash $900
