Fortune Drilling Company acquires a mineral deposit at a cost of $5,900,000. It incurs additional costs of $600,000 to access the deposit, which is estimated to contain 2,000,000 tons and is expected to take 5 years to extract. What journal entry would be needed to record the expense for the first year assuming 418,000 tons were mined

Answers

Answer 1

Answer and Explanation:

the journal entry is given below:

Depletion Expense $1,358,500

         To Accumulated Depletion $1,358,500.

(Being depletion expense is recorded)

Here the depletion expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working note

Depletion expense is

= ($5,900,000 + $600,000) ÷ $2,000,000 × 418,000

= $1,358,500


Related Questions

Stephen is a graduate student at West University. He works part-time at the campus coffee shop earning $5,000 this year. Stephen also receives a $25,000 scholarship that pays for his tuition, fees, and books. What amount does Stephen include in his gross income

Answers

Answer:

5,000

Explanation:

Stephen is a graduate student at a university

He works part time at a shop where he earns 5,000 this is als like compensation

He receives $25,000 for scholarships

The amount Stephen includes in id groas income is 5,000

what are the purpose of the information in Management?​

Answers

Answer:

The purpose of information management is to: design, develop, manage, and use information with insight and innovation. support decision making and create value for individuals, organizations, communities, and societies.

Answer:

It helps dictate how businesses form strategies, and implement processes based on them.

Read the argument below and determine the underlying principle that was used to come to the conclusion presented: A free college education for every citizen is important because it helps the United States create the best-educated workforce in the world. European countries like Germany are able to provide a free college education to their citizens, and the United States should as well. Which other argument uses the same underlying principle as the argument above?

a. Children should get free dental care, even if they drink a lot of soda which causes cavities.
b. Children should get free dental care because it will help prevent more serious issues later on and reduces future healthcare costs.
c. Every child should get free dental care, even if they can afford to pay for it.

Answers

Answer:

1. The underlying principle is

to create the best-educated workforce in the world.

2. The argument that uses the same underlying principle as the argument  1 above is:

b. Children should get free dental care because it will help prevent more serious issues later on and reduces future healthcare costs.

Explanation:

The underlying principle is a general rule which can be applied to different situations.  It shows the reason for doing something or embarking on a program.  For example, to offer free college education for every U.S. citizen, the underlying principle is to "create the best-educated workforce in the world."

In addition to the date of recordation, what other factor is used to determine lien priority?

Answers

Answer:

Two factors primarily determine lien priority. Firstly the lien's categorization as superior or junior, and secondly the date the lien was recorded.

Explanation:

An encumbrance is most broadly defined as

another's right to use a property without the permission of the property owner.

another's right to claim the sale proceeds of a property that has been used as collateral for a loan.

another's interest in a real property that limits the interests of the freehold property owner.

another's right to control how the freehold owner of a real property uses the property.

In addition to the date of recordation, lien's categorization is other factor used to determine lien priority.

What is lien priority?

Lien priority helps to know the order in which creditors get paid following a foreclosure.

Date of recordation is one of the factor yo consider because those on the earlier dates are attended to first.

Therefore, lien priority is so base on categorization because Superiors are been attended to first.

Learn more about lien priority at;

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Cara has just come in for her morning shift , but the sales floor is a mess . Looks like the night crew didn't clean up . She groans , but then gets to work cleaning the displays before customers come . If she doesn't , who else will ? What good problem - solving skills is she exhibiting? a ) Seeking advice when necessary Ob ) Open to seeing new perspectives c ) Having a solutions - oriented attitude

Answers

Answer:

having a solutions-oriented attitude

Explanation:

she seen things wasn't done so she starts cleaning because she takes pride in her job

why multinational company are developed​

Answers

Answer:

Multinationals provide an inflow of capital into the developing country.

Explanation:

This capital investment helps the economy develop and increase its productive capacity.

Multinational corporations (MNCs) have a global presence, even in developing countries. There are over 80,000 companies that drive the 21st-century economy. For example, Coca-Cola sells its product in nearly every country and has established over 900 bottling facilities worldwide. MNCs have propelled the GDP of their parent countries, most notably the United States, Japan, China and Western Europe, but how do their international operations affect developing countries?

It is difficult to say whether multinational corporations in developing countries are decidedly ‘good’ or ‘bad.’ One must consider many perspectives before making that judgment. However, researchers have identified a variety of positive and negative impacts applicable to most MNCs

Steve King and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to King of $128,250. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to King and Stevens, 1:2. King and Stevens had $75,000 and $81,000, respectively, in their January 1 capital balances. Net income for the year was $225,000. How much is distributed to King and Stevens

Answers

Answer:

King and Stevens Partnership

                                King         Stevens       Total

Distributions        $162,110     $62,890   $225,000

Explanation:

a) Data and Calculations:

Annual salary allowance to King = $128,250

Interest rate on capital = 7%

Income sharing ratio = 1:2 King and Stevens

Net income for the year = $225,000

Capital balances = $75,000 King and $81,000 Stevens

                                King         Stevens    Total

Capital                 $75,000     $81,000    $156,000

Net income                                             $225,000

Annual salary      128,250                 0     (128,250)

Interest on capital  5,250         5,670        (10,920)

Share of profits     28,610       57,220       (85,830)

Capital, ending  $237,110    $143,890    $381,000

Distributions      $162,110     $62,890   $225,000

On October 1, 2020 Sheffield Corp. issued 5%, 10-year bonds with a face value of $6140000 at 104. Interest is paid on October 1 and April 1, with any premiums or discounts amortized on a straight-line basis. Bond interest expense reported on the December 31, 2020 income statement of Sheffield Corp. would be:_________

Answers

Answer: $70610

Explanation:

Following the information given, the issue price of the bond will be:

= $6,140,000 × 1.04

= $6,385,600

The premium on bonds payables will be:

= $6,385,600 - $6,140,000

= $245,600

Cash interest Payables will be:

= 6,140,000 × 5% × 3/12

= $76,750

Bond Premium amortization for Each Year will be:

= 245,600 / 10

= $24,560

Then, the premium amortized will be:

= $24,560 × 3/12

= $6,140

Therefore, the interest expenses on Dec 31 will be:

= Cash interset Payables - Premium amortized

= $76,750 - $6,140

= $70,610

acc 430 Firm B, a calendar year, cash basis taxpayer, leases lawn and garden equipment. During December, it received the following cash payments. To what extent does each payment represent current taxable income to Firm B

Answers

Answer: See explanation

Explanation:

a. Even though firm B received a cash of $522, only $22 which is the interest will be taxable as the $500 which is the principal isn't taxable.

b. Even though Firm B got $600 cash, there'll be no taxable income as the receipt brought about a liability. Hence, taxable income is 0.

c. Even though Firm B got $10000 cash, there'll be no taxable income as the receipt brought about a liability and the net worth wasn't increased. Hence, taxable income is 0.

d. The taxable income here will be $888.

Standish Company manufactures consumer products and provided the following information for the month of February:

Units produced 131,000
Standard direct labor hours per unit 0.20
Standard fixed overhead rate (per direct labor hour) $2.50
Budgeted fixed overhead $65,000
Actual fixed overhead costs $68,300
Actual hours worked 26,350

Required:
a. Calculate the fixed overhead spending variance using the formula approach.
b. Calculate the volume variance using the formula approach.

Answers

Answer and Explanation:

The computation is shown below:

a. Fixed overhead Spending Variance is

= Budgeted Fixed Overhead - Actual Fixed overhead

= $65000 - $68300

= - $3300 (unfavorable)

b.

Fixed Overhead Volume Variance is

= (131000 × 0.20 × $2.50) - $65000

=$65500 - $65000

= $500 Favorable

In this way these can be determined

1. Costs that do not change with the change in the level of production for some time is classified as ________.
a. variable costs.
b. fixed costs.
c. mixed costs.
d. none of these choices are correct.
2. Under variable costing, the cost of goods manufactured consists of all except:_____.
a. direct materials.
b. direct labor.
c. variable factory overhead.
d. fixed factory overhead.
3. Costs that have characteristics of both a variable cost and a fixed cost are classified as ________.
a. variable costs.
b. fixed costs.
c. mixed costs.
d. none of these choices are correct.

Answers

Answer:

1. b. fixed costs.

2. d. fixed factory overhead.

3. c. mixed costs.

Explanation:

Costs are usually classified as fixed and variable cost. Fixed cost are cost that don not vary with the level of activities (usually expressed as units of production or sales) of an organization.

Variable cost on the other hand are cost that varies with the level of activity. A combination of these cost is called mixed cost.

Under variable costing, all cost are dependent on activity level hence are not fixed.

In the short run, open-market purchases a. increase investment and real GDP, and decrease interest rates. b. increase real GDP and interest rates, and decrease investment. c. increase investment and interest rates, and decrease real GDP. d. decrease investment, interest rates, and real GDP.

Answers

Answer: a. increase investment and real GDP, and decrease interest rates.

Explanation:

During an Open Market Purchase, the central bank of the country would be buying back securities from the public which means that it would be infusing money into the economic system.

With an increased amount of money in the economy, people will be able to save more which means that interests rate will drop because there are now more loanable funds. This drop in interest rates will encourage more companies and people to borrow cash for investment which will then lead to a higher GDP.

In the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.

The interest rate has been the amount of interest lent onto the principal sum. The GDP has been the gross domestic product that has been the market value of the final products.

In the open-market purchase, there has been an increase in the amount of money in the market. The government has been buying the securities and results in the market flow of money. The market flow will eventually result in an increase in the GDP with the decreased interest rates.

Thus in the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.

For more information about the open market purchase, refer to the link:

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which of the following attributes is not necessary for the information to qualify as a trade secret?

Answers

Answer:

short and long to type

Explanation:

i hope this question is helpful

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Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 46,000 units per month is as follows:

Per Unit Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Fixed manufacturing overhead $18.50
Variable selling & administrative expense $3.00
Fixed selling & administrative expense $14.00

The normal selling price of the product is $98.10 per unit.

An order has been received from an overseas customer for 2,600 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $1.80 less per unit on this order than on normal sales.

Direct labor is a variable cost in this company.

Suppose there is not enough idle capacity to produce all of the units for the overseas customer and accepting the special order would require cutting back on production of 1,000 units for regular customers. The minimum acceptable price per unit for the special order is closest to: __________

Answers

Answer:

Ash Corporation

The minimum acceptable price per unit for the special order is closest to:

= $94.93.

Explanation:

a) Data and Calculations:

Normal production capacity per month = 46,000 units

Per Unit

Direct materials                                            $45.60

Direct labor                                                     $8.70

Variable manufacturing overhead                 $1.70

Fixed manufacturing overhead                   $18.50

Variable selling & administrative expense  $3.00

Fixed selling & administrative expense     $14.00

The normal selling price of the product = $98.10 per unit.

Special order = 2,600 units

Relevant costs:

Direct materials                                            $45.60

Direct labor                                                     $8.70

Variable manufacturing overhead                 $1.70  

Variable selling & administrative expense   $1.20

Total relevant costs per unit                      $57.20

Total variable cost for the special order = $148,720 ($57.20 * 2,600)

Loss sales revenue (1,000 * $98.10)              98,100

Total cost for the special order =             $246,820

Minimum acceptable price per unit = $94.93 ($246,820/2,600)

A firm's market-to-book ratio might be greater than 1.0 due to accounting reasons. An example of an accounting reason that would cause the market-to-book ratio to increase is

Answers

Answer: off-balance-sheet assets arising from investments in successful research and development programs that are expensed according to conservative accounting principles.

Explanation:

The market to book ratio refers to the financial valuation metric that is used in the evaluation of the current market value of a company relative to the book value of the company.

It should be noted that there'll be an increase in the market price of a company when there are investments which are made by the company in successful research and development programs which entails the use of the conservative accounting principles.

A person can choose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week.The government implements a welfare program in which the welfare system pays $5000 per year to people with no labor market earnings, but benefits are reduced by $0.50 for each $1 in labor market earnings that a person receives.
a. True
b. False

Answers

Answer:

False

Explanation:

An approach to managing inventories and production operations such that units of materials and products are obtained and provided only as they are needed is called: Customer orientation. Continuous improvement. Total quality management. Just-in-time manufacturing. Theory of constraints.

Answers

Answer:

Just-in-time manufacturing

Explanation:

just-in-time manufacturing can be regarded as Lean manufacturing

a production method that helps in

reduction of times within the production system and reduction in

response times from suppliers as well to to customers. It should be noted that the approach to managing inventories and production operations such that units of materials and products are obtained and provided only as they are needed is called Just-in-time manufacturing.

D Corporation applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any under of overapplied manufacturing overhead cost is closed out to Cost of Goods Sold at the end of the month. During May, the following transactions were recorded by the company:
Raw materials (all direct materials):
Purchased during the month $38,000
Used in production $35,000
Labor:
Direct labor-hours worked during the month 3,150
Direct labor cost incurred $30,000
Manufacturing overhead cost Incurred (total) $24,500
Inventories:
Raw materials (all direct), May 31 $8,000
Work in process, May 1 $9,000
Work in process, May 31 $12,000
Contains $4,400 in direct labor cost.
The Cost of Goods Manufactured for May was:____.
a. $84,500.
b. $95,000.
c. $75,500.
d. $81,500.

Answers

Answer:

D Corporation

The Cost of Goods Manufactured for May was:____.

a. $84,500.

Explanation:

a) Data and Calculations:

Predetermined overhead rate = 75% of direct labor cost

Raw materials (all direct materials):

Purchased during the month $38,000

Used in production                 $35,000

Labor:

Direct labor-hours worked during the month 3,150

Direct labor cost incurred $30,000

Manufacturing overhead cost Incurred (total) $24,500

Inventories:

Raw materials (all direct), May 31 $8,000

Work in process, May 1 $9,000

Work in process, May 31 $12,000

Contains $4,400 in direct labor cost.

Cost of Goods Manufactured:

Work in process

Beginning balance May 1     $9,000

Raw materials used           $35,000

Direct labor cost incurred $30,000

Overhead applied               22,500

Cost of goods manufactured          $84,500

Work in process, May 31                  $12,000

Gullett Corporation had $37,000 of raw materials on hand on November 1. During the month, the Corporation purchased an additional $86,000 of raw materials. The journal entry to record the purchase of raw materials would include a:

Answers

Answer: See explanation

Explanation:

The journal entry to record the purchase of raw materials is analysed below:

November:

Dr Raw materials $86000

Cr Cash or account payable $86000

It should be noted that as the raw material is increasing, the raw material account will be debited while as the cash or account payable I decreasing, it is credited.

solve the equation
(2x-5x)(4y-6x)​

Answers

[tex] \sf \: (2x - 5x)(4y - 6x)[/tex]

Use distributive property.

[tex] \sf \: 2x(4y - 6x) - 5x(4y - 6x) \\ \sf \: = 8xy - 12 {x}^{2} - 20xy + 30 {x}^{2} \\ \sf \: = 8xy - 20xy - 12 {x}^{2} + 30 {x}^{2} \\ = \boxed{ \bf \: - 12xy + 18x ^{2} }[/tex]

The solution for the equation is - 12xy + 18x².

You can further simplify the equation formed as - 6x (2y - 3x).

Hope it helps.

RainbowSalt2222

Answer:

18x²-12xy

Explanation:

(2x-5x)(4y-6x)​

8xy-12x²-20xy+30x²

18x²-12xy

To a greater or lesser degree, many governments can be considered pragmatic nationalists when it comes to foreign direct investment (FDI); this means it has both benefits and costs.

a. True
b. False

Answers

Answer:

a. True

Explanation:

The term foreign direct investment (FDI) is basically used to classify the number of capital investments and other non-financial investments made by foreign companies into a host country.

For example, if the U.S receives witnesses an increase in new Chinese-owned businesses in the past year, then those investments amount once quantified would make up part of the U.S foreign direct investment (FDI) for the year. This would come would benefit, while also carrying some cost such as having an unfavorable balance of payment.

During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:
Jan. 6 Purchased goods for $1,200 from Green with terms 2/10, n/30.
6 Purchased goods from Munoz for $900 with terms 2/10, n/30.
14 Paid Green in full.
Feb. 2 Paid Munoz in full.
28 Purchased goods for $350 from Reynolds with terms 2/10, n/45.
Required:
Prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Answers

Answer:

Axe Corporation

Journal Entries:

Jan. 6 Debit Inventory $1,200

Credit Accounts Payable (Green) $1,200

To record the purchase of goods on credit terms 2/10, n/30.

Jan. 6 Debit Inventory $900

Credit Accounts Payable (Munoz) $900

To record the purchase of goods on credit terms 2/10, n/30.

Jan. 14 Debit Accounts Payable (Green) $1,200

Credit Cash $1,176

Credit Cash Discounts $24

To record the payment on account, including discounts.  

Feb. 2 Debit Accounts Payable (Munoz) $900

Credit Cash $900

To record the payment on account, including discounts.

Feb. 28 Debit Inventory $350

Credit Accounts Payable (Reynolds)

To record the purchase of goods on credit terms 2/10, n/45.

Explanation:

a) Data and Calculations:

Jan. 6 Inventory $1,200 Accounts Payable (Green) $1,200 terms 2/10, n/30.

Jan. 6 Inventory $900 Accounts Payable (Munoz) $900 terms 2/10, n/30.

Jan. 14 Accounts Payable (Green) $1,200 Cash $1,176 Cash Discounts $24

Feb. 2 Accounts Payable (Munoz) $900 Cash $900

Feb. 28 Inventory $350 Accounts Payable (Reynolds) terms 2/10, n/45.

Zell Company had sales of $1,800,000 and related cost of merchandise sold of $1,150,000 for its first year of operations ending December 31, 20Y3. Zell Company provides customers refunds and allowances for any damaged merchandise. At the end of the year, Zell Company estimates that customers will request refunds and allowances for 1.5% of sales. Assume that on February 3, 20Y4, Zell Company paid a customer a $5,000 cash refund for damaged merchandise. Required: (a) Journalize the adjusting entry on December 31, 20Y3, to record the expected customer refunds and allowances\.\* (b) Journalize the entry to record the cash refund\.\* *Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

Answers

Solution :

a).      Date                 Description                       Debit($)                   Credit($)

  31st Dec 20Y3           Sales                              27,000

                              (1,800,000 x 1.5%)        

                             Customer refunds payable                                    27,000    

                             

                             Estimated sales return           16,000

                              inventory

                           Cost of merchandise sold                                        16,000

b).     Date                 Description                       Debit($)                   Credit($)

  3 Feb, 20Y4   Customer refund payable        5000

                          Cash                                                                           5000

                         Merchandise inventory              3100

                        Estimated return inventory                                        3100

Which of the following types of mortgages would be most advantageous to have on your house if you expected the annual rate of inflation would be higher than most people thought?
a. reverse annuity mortgage
b. interest-only mortgage
c. adjustable-rate mortgage
d. fixed-rate mortgage

Answers

Answer:

d. fixed-rate mortgage

Explanation:

Inflation can be defined as the persistent general rise in the price of goods and services in an economy at a specific period of time.

Generally, inflation usually causes the value of money to fall and as a result, it imposes more cost on an economy.

On a related note, when the level of inflation is low in a particular country; their current account balance would be high. However, when the level of inflation is high; it results in low growth and as such increases the home country's current account balance, other things being equal (ceteris paribus).

Hence, if you anticipate a higher annual rate of inflation than most people thought, the fixed-rate mortgage would be most advantageous to have on your house because the interest is fixed or constant over the life of the mortgage loan.

A fixed-rate mortgage can be defined as an installment or fully amortizing mortgage loan that has a fixed (constant) interest rate that doesn't change throughout the entire duration of the loan.

This ultimately implies that, an equal amount of money is paid as principal and interest throughout the life of the mortgage loan.

Midsouth Stitchery wants to improve their productivity. Their process yield is currently 91.56% based on 9816 yards of material. If they are going to improve their productivity to 92.10, how many yards of finished material will they have to produce from the same amount of material input

Answers

Answer:

9,040.54 yards

Explanation:

Input material amount I = 9,816 yards

Productivity P = 92.10%

Let Output Material amount be O

O = I * P

O = 9,816 yards * 0.9210

O = 9040.536

O = 9040.54 yards

So, the unit of yards they will have to produce from the same amount of material input is 9,040.54 yards

Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,300 Materials costs $ 14,400 Conversion costs $ 6,500 Percent complete with respect to materials 75% Percent complete with respect to conversion 20% Units started into production during the month 11,000 Units transferred to the next department during the month 9,900 Materials costs added during the month $ 173,500 Conversion costs added during the month $ 243,500 Ending work in process inventory: Units in ending work in process inventory 3,400 Percent complete with respect to materials 90% Percent complete with respect to conversion 30% The cost per equivalent unit for materials for the month in the first processing department is closest to: Multiple Choice $12.21 $13.15 $11.90 $14.50

Answers

Answer:

Inacio Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.50

Explanation:

a) Data and Calculations:

                                                        Units    Materials    Conversion

Beginning work in process           2,300     $14,400      $6,500

Percentage of completion                              75%           20%

Units started during the month   11,000

Total units available                     13,300

Units transferred to the next       9,900      100%         100%

Ending work in process               3,400        90%          30%

Costs added during the month               $173,500    $243,500

Equivalent units of production:

                                                          Units    Materials        Conversion

Units transferred to the next       9,900      9,900 (100%)   9,900 (100%)

Ending work in process               3,400       3,060 (90%)     1,020 (30%)

Equivalent units of production                   12,960             10,920

Costs of production:                   Materials  Conversion

Beginning work in process           $14,400      $6,500

Costs added during the month    173,500    243,500

Total costs of production           $187,900  $250,000

Cost per equivalent unit:             Materials  Conversion

Total costs of production            $187,900  $250,000

Equivalent units of production       12,960        10,920

Cost per equivalent unit               $14.50       $22.89

vai trò của đạo đức trong doanh nghiệp là gì

Answers

Explanation:

Đạo đức kinh doanh giúp doanh nghiệp duy trì mối quan hệ tốt hơn và hài hòa với xã hội, khách hàng, nhân viên và các ngành hữu quan. ... Đạo đức kinh doanh có một vai trò quan trọng trong việc nâng cao lợi nhuận và năng suất của doanh nghiệp và cải thiện thiện chí của doanh nghiệp trên thị trường.  

đánh dấu tôi là não nhất làm ơn giúp tôi và cảm ơn

You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose truck for $250,000. The truck falls into the MACRS three-year class, and it will be sold after three years for $50,000. Use of the truck will require an increase in NWC (spare parts inventory) of $5,000. The truck will have no effect on revenues, but it is expected to save the firm $80,000 per year in before-tax operating costs, mainly labor. The firm's marginal tax rate is 21 percent. What will the operating cash flow for this project be during year 3

Answers

Answer:

Please find the complete solution in the attachment file.

Explanation:

Please find the attachment table for the 3 years of cash flow:

Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2016, were inventory, $51,900; total assets, $209,400; common stock, $81,000; and retained earnings, $54,682.)
CABOT CORPORATION Income Statement For Year Ended December 31, 2017 Sales Cost of goods sold Gross profit Operating expenses Interest expense Income before taxes Income taxes 450,600 297,250 153,350 99,200 4,300 49,850 20,082 $ 29,768 Net income CABOT CORPORATION Balance Sheet December 31, 2017 Liabilities and Equity Assets Cash Short-term investments Accounts receivable, net Notes receivable (trade)* Merchandise inventory Prepaid expenses Plant assets, net Total assets $ 18,000 Accounts payable 18,500 4,600 3,600 9,400 Accrued wages payable 30,600 Income taxes payable 5,500 38,150 Long-term note payable, secured by 65,400 mortgage on plant assets 2,600 Common stock 153,300 Retained earnings 81,000 84,450 $ 257,550 $ 257,550 Total liabilities and equity
* These are short-term notes receivable arising from customer (trade) sales.
Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)

Answers

Answer:

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Năm trước, doanh thu đạt được 1 triệu $, trong đó 250.000 là doanh thu bán chịu; số dư khoản phải thu khách hàng trung bình là 41.096$. Năm nay, công ty kỳ vọng doanh thu sẽ tăng thêm 50%, tỷ lệ doanh thu bán chịu/doanh thu không đổi, kỳ thu tiền bình quân tăng 50% (giả sử một năm có 365 ngày). Nếu khoản phải thu tăng thêm được tài trợ từ bên ngoài (chẳng hạn như vay ngân hàng) thì công ty cần thêm nguồn tài trợ này là bao nhiêu?

Answers

punda mavana Umbi. posddajh jzushl Unni Sunni nayye mayiru

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