On September 15, Jerome, Inc., paid $8,900 to make a long-term investment in available-for-sale securities by purchasing notes of Topper, Inc.
Complete the necessary journal entry.

Answer and Explanation:

The journal entry is shown below:

Long term investment - AFS $8,900

    To Cash $8,900

(Being cash paid is recorded)

here long term investment is debited as it increased the assets and credited the cash as it decreased the assets  

Answer:

Date                  Account Title                                          Debit             Credit

Sept. 15             Investment in Available For Sale        $8,900

                         Security

                         Cash                                                                             $8,900

Cash will be credited to recognize that it reduced on account of it being used to pay for the investment. The investment will be treated as an asset so it will be debited to recognize that it is an increase.

Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.50 per mile driven. Joyce has determined that if she drives 3,300 miles in a month, her total operating cost is $875. If she drives 4,400 miles in a month, her total operating cost is $1,095. Joyce has used the high-low method to determine that her monthly cost equation is: total monthly cost = $215 + $0.20 per mile driven.
1. Determine how many miles Joyce needs to drive to break even.
2. Calculate Joyce's degree of operating leverage if she drives 4, 200 miles.
3. Suppose Joyce took a week off and her sales for the month decreased by 25 percent. Using the degree of operating leverage, calculate the effect this will have on her profit for that month.

Explain the importance of technical education providing organization in nepal. plz say simple and correct answer. ​

ecember 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method. In Rupar's December 31, 2021, journal entry to record the second period of interest, Rupar would record a credit to interest revenue of:

Gomez argues that we need to increase the nation's output. Chang contends that our top priority should be a more equal distribution of income and output. It can be correctly stated that these two goals are:
A. essentially unrelated.
B. complementary because the realization of one will promote fulfillment of the other.
C. at least partially competing because the redistribution of income might impair incentives to work and produce.
D. complementary because a more equal distribution of income always promotes economic growth.

Which of the following is the most common way to search any website or search engine?
A. Topic search
B. Keyword search
C. Boolean logic
D. Plain language search

Arndt, Inc. reported the following for 2021 and 2022 ($ in millions):
2021 2022
Revenues 888 980
Expenses 760 800
Pretax accounting income (income statement) 128 180
Taxable income (tax return) 116 200
Tax rate: 25%
a. Expenses each year include $30 million from a two-year casualty insurance policy purchased in 2021 for $60 million. The cost is tax deductible in 2021.
b. Expenses include $2 million insurance premiums each year for life insurance on key executives.
c. Arndt sells one-year subscriptions to a weekly journal. Subscription sales collected and taxable in 2021 and 2022 were $33 million and $35 million, respectively. Subscriptions included in 2021 and 2022 financial reporting revenues were $25 million ($10 million collected in 2020 but not recognized as revenue until 2021) and $33 million, respectively. Hint. View this as two temporary differences-one reversing in 2021; one originating in 2021.
d. 2021 expenses included a $14 million unrealized loss from reducing investments (classified as trading securities) to fair value. The investments were sold and the loss realized in 2022.
e. During 2020, accounting income included an estimated loss of $6 million from having accrued a loss contingency. The loss was paid in 2021, at which time it is tax deductible.
f. At January 1, 2021, Arndt had a deferred tax asset of $4 million and no deferred tax liability.
Required:
1. Which of the five differences described in items a-e are temporary and which are permanent differences?
2. Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. Using the schedule, prepare the necessary journal entry to record income taxes for 2022.
3. Prepare a schedule that reconciles the difference between pretax accounting income and taxable income. (Amounts to be deducted should be indicated with a minus sign.

The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. If Burkett Corporation achieves the budgeted level of sales, what will be its margin of safety in dollars? (Do not round Intermediate calculations.): $1,020,000 8 08:49 Sales (51,000 units) Costs: Direct materials Direct labor Fixed factory overhead Variable factory overhead Fixed marketing costs Variable marketing costs Pretax income $278, 800 240, 100 100, 500 150, 100 119, 100 50, 100 929,700 90,300
a. $150300
b. $305302
c. $169,831
d. S234282
e. $327,539

A job description should be?


A. Considered a guide.

B. Followed to the letter.

C. Created in the interview.

Suddeth Corporation has entered into a 6 year lease for a building it will use as a warehouse. The annual payment under the lease will be $2,468. The first payment will be at the end of the current year and all subsequent payments will be made at year-ends. If the discount rate is 5%, the present value of the lease payments is closest to :___________

During 2015, Orton Company earned net income of $464,000 which included deprecia-tion expense of $78,000. In addition, the company experienced the following changes in the account balances listed below:
Increases Decreases
Accounts payable $45,000 Accounts receivable $12,000
Inventory 36,000 Accrued liabilities 24,000
Prepaid insurance 33,000
Calculate net cash flow from operating activities using indirect method:______.

Lewis Company's standard labor cost of producing one unit of Product DD is 3.3 hours at the rate of $12.4 per hour. During August, 43,900 hours of labor are incurred at a cost of $12.60 per hour to produce 13,100 units of Product DD.
1. Compute the total labor variance.
2. Compute the labor price and quantity variances.
3. Compute the labor price and quantity variances, assuming the standard is 3.7 hours of direct labor at $12.70 per hour.

Bolka Corporation, a merchandising company, reported the following results for October: Sales $ 407,000 Cost of goods sold (all variable) $ 173,400 Total variable selling expense $ 20,400 Total fixed selling expense $ 22,200 Total variable administrative expense $ 14,800 Total fixed administrative expense $ 39,700 The contribution margin for October is: Multiple Choice $198,400 $233,600 $136,500 $345,100

Jack is a married male, while John is single. Your company has an assignment in a branch in Mexico that would last a couple of years. Management feels that John would be better for this assignment because he is single and is free to move. Is this decision fair?

As part of a strategic planning process, Midwest Power's senior executives determined positive findings from their SWOT analysis: (1) New regulations will
provide tax credits for renewable ("green") power sources. (2) Their customers will pay higher prices for green power. (3) A competing power utility that
owns renewable power sources is struggling and might be a target to be acquired by Midwest Power. (4) As compared to their competitors, Midwest
Power's management team is one of the best in the industry. A strength of Midwest Power, per the SWOT analysis, is that

Zhang Industries is preparing a cash budget for June. The company has $25,000 cash at the beginning of June and anticipates $95,000 in cash receipts and $111,290 in cash disbursements during June. The company has no loans outstanding on June 1. Compute the amount the company must borrow, if any, to maintain a $20,000 cash balance. Multiple Choice $11,290. $28,710. $12,290. $6,290. $16,290.

Retained earnings, December 31, 2013 $342,700
Cost of buildings purchased during 2014 44,100
Net income for the year ended December 31, 2014 56,200
Dividends declared and paid in 2014 32,800
Increase in cash balance from January 1, 2014, to December 31, 2014 22,700
Increase in long-term debt in 2014 45,300
Required:
Calculate the Retained Earnings balance as of December 31, 2014.

Item10 1 points Time Remaining 50 minutes 15 seconds00:50:15 Item 10 Time Remaining 50 minutes 15 seconds00:50:15 A long-term asset is recorded at the: Multiple Choice Additional costs to get the asset ready for use. Cost of the asset. Cost of the asset less all costs necessary to the asset ready for use. Cost of the asset plus all costs necessary to the asset ready for use.

Suppose that you have generated the estimates listed below from a pro forma analysis for a company that had requested a three year loan. The loan is a $1.5 million term loan with the equal annual payments of principals. The P&I payments are due at the end of each year with the annual interest rate = Prime rate + 2%.
Yr.1 Yr. 2 Yr. 3
Capital expenditure 250,000 125,000 75,000
Cash dividends 140,000 140,000 140,000
Cash flow from operations before
interest expense 750,000 780,000 800,000
Assuming the Prime rate = 8% each year. What will be the interest payment at year 2?
a. 25,000.
b. 50,000.
c. 100,000.
d. 150,000.
e. 200,000.

During April, Cavy Company incurred factory overhead as follows:

Indirect materials $11,600
Factory supervision labor 3,700
Utilities 500
Depreciation (factory) 600
Small tools 230
Equipment rental 720

Journalize the entry to record the factory overhead incurred during April.

Which 3 types of customer statements can QuickBooks Online generate?

Suppose a stock had an initial price of $72 per share, paid a dividend of $2.60 per share during the year, and had an ending share price of $59. Compute the percentage total return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What was the dividend yield and the capital gains yield

trình bày các vai trò của đạo đức kinh doanh trong phát triển doanh nghiệp

Zisk Co. purchases raw materials on account Budgeted purchase amounts are April, $80,000, May, $110,000, and June, $120,000. Payments are made as follows: 70% in the month of purchase and 30% in the month after purchase. The March 31 balance of accounts payable is $22,000. Prepare a schedule of budgeted cash payments for April, May, and June. (I need ending accounts payable)

Scooter wishes to sell a bond that has a face value of $919. The bond bears an interest rate of 6.01% with bond interest payable quarterly. Three years ago, $1,221 was paid for the bond. At least a 12.68% return (yield) on the investment is desired. The quarterly bond interest payment that Scooter received is:

Staind, Inc., has 11 percent coupon bonds on the market that have 12 years left to maturity. The bonds make semiannual payments. If the YTM on these bonds is 11 percent, what is the current bond price

Ivanhoe Diesel owns the Fredonia Barber Shop. He employs 5 barbers and pays each a base rate of $1,380 per month. One of the barbers serves as the manager and receives an extra $535 per month. In addition to the base rate, each barber also receives a commission of $3.75 per haircut.
Other costs are as follows.
Advertising $270 per month
Rent $1,010 per month
Barber supplies $0.50 per haircut
Utilities $160 per month plus $0.15 per haircut
Magazines $35 per month
Ivanhoe currently charges $11 per haircut.
Determine the variable costs per haircut and the total monthly fixed costs. (Round variable costs to 2 decimal places, e.g. 2.25.)
Total variable cost per haircut
$enter a dollar amount rounded to 2 decimal places
Total fixed
$enter a dollar amount
eTextbook and Media
Compute the break-even point in units and dollars.
Break-even point
enter the Break-even point in units
haircuts
Break even sales
$enter the Break-even sales in dollars
eTextbook and Media
Determine net income, assuming 1,670 haircuts are given in a month.
Net income / (Loss)
$enter net income in dollars

type of power based on manager's ability to influence employees with something of value to them.​

Country A has a GDP of $4,600 in Country A dollars, and Country B has a GDP of $2,400 in Country B dollars. If the exchange rate is 1.5 Country B dollars to 1 Country A dollar, what is Country B's GDP in Country A dollars

Suppose during 2014, Cypress Semiconductor Corporation reported net cash provided by operating activities of $89,063,000, cash used in investing of $43,133,000, and cash used in financing of $7,359,000. In addition, cash spent for fixed assets during the period was $25,900,000. Average current liabilities were $257,933,000, and average total liabilities were $280,651,000. No dividends were paid.
Free cash flow equals?

Estimated inventory (units), May 1 19,800 Desired inventory (units), May 31 19,400 Expected sales volume (units): Area W 6,600 Area X 10,000 Area Y 7,500 Unit sales price $13.00 The number of units expected to be sold in May is a.24,100 b.28,920 c.21,690 d.14,100