Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company bought some land 5 years ago for $9,639,708 in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent these facilities from a competitor instead. If the land were sold today, the company would net $3,650,288. An engineer was hired to study the land at a cost of $810,081, and her conclusion was that the land can support the new manufacturing facility. The company wants to build its new manufacturing plant on this land; the plant will cost $6,880,840 million to build, and the site requires $529,656 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project?

Answers

Answer 1

Answer:

the proper cash flow amount is $11,060,784

Explanation:

The computation of the proper cash flow amount is shown below:

= land value + plant value + grading value

= $3,650,288 + 6,880,840 + $529,656

= $11,060,784

Hence, the proper cash flow amount is $11,060,784

So the same should be considered and relevant


Related Questions

Refer to the following information about the Finishing Department in the Gallagher Factory for the month of June. Gallagher Factory uses the FIFO method of inventory costing.
Beginning Work in Process inventory:
Physical units..... 5000
% complete for materials 70%
% complete for conversion costs 25%
Materials cost from May 7350
Conversion costs from May 3125
Product started:
Physical units 44000
Ending Work in Process inventory:
Physical units 4000
% complete for materials 40%
% complete for conversion costs 10%
Manufacturing costs for June:
Materials 96975
Conversion costs 79470
Compute equivalent units for direct materials for June.

Answers

Answer:

the equivalent units for direct material is 43,100 units

Explanation:

The computation of the equivalent units for direct material is shown below:

= Ending work in process units + units started and completed + opening work in process units

= 40% of 4,000 units + (44,000 - 4,000) + 30% of 5,000

= 1,600 units + 40,000 units + 1,500 units

= 43,100 units

hence, the equivalent units for direct material is 43,100 units

A company is planning to purchase a machine that will cost $ 28,800 with a six - year life and no salvage value . The company uses straight deprecation The company expects to sell the machine's output of 3.000 units evenly throughout each year A projected income statement for each year of the asset's life appears below . What is the accounting rate of return for this machine

Answers

Answer:

the accounting rate of return is 89.44%

Explanation:

The computation of the accounting rate of return is shown below:

accounting rate of return is

= net income ÷ average investment

 = $12,880 ÷ ($28,800 ÷ 2)

= 89.44%

Hence, the accounting rate of return is 89.44%

The same is to be considered and relevant

The Devon Motor Company produces automobiles. On April 1st the company had no beginning inventories and it purchased 8,000 batteries at a cost of $80 per battery. It withdrew 7,600 batteries from the storeroom during the month. Of these, 100 were used to replace batteries in cars being used by the company’s traveling sales staff. The remaining 7,500 batteries withdrawn from the storeroom were placed in cars being produced by the company. Of the cars in production during April, 90 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 30 percent were unsold at April 30th. Required: 1. Determine the cost of batteries that would appear in each of the following accounts on April 30th.

Answers

Question Completion:

a) raw materials

b) work in process

c) finished goods

d) cost of goods sold

e) selling expense

Answer:

The Devon Motor Company

The cost of batteries that would appear in each of the following accounts on April 30th:

a) raw materials =                                   $32,000

b) work in process =                              $60,000

c) finished goods =                               $162,000

d) cost of goods sold =                        $378,000

e) selling expense =                                $8,000

Total cost of batteries purchased =  $640,000

Explanation:

a) Data and Calculations:

Beginning inventory = 0

Purchase of batteries = 8,000 at $80 = $640,000

Used batteries =            7,600

Ending inventory =           400 at $80 = $32,000 raw materials

Used batteries =            7,600:

Selling expenses =            100 * $80 = $8,000

Work in process =         7,500

Ending WIP =   (7,500 - 6,750) * $80 = $60,000

Finished goods = 90%  6,750 * $80 = $540,000

Ending inventory 30%   2,025 * $80 = $162,000

Cost of goods sold 70% 4,725 * $80 = $378,000

special - time order for 15,000 bird feeders at $ 3,50 per unit Bluebird currently produces and sells . This level represents 80 % of its capachy These bird feeders would be marketed under the wholesaler's name and would not Bluebird's through normal channels Production costs for these units are $ 4 25 per unit which includes $ 250 variable cost and 175 fed cost . If Bluebird accepts this additional business , the effect on net income will be :

Answers

Answer:

$15,000 Increase

Explanation:

Calculation to determine what the effect on net income will be :

Effect on net income = (15,000 x $3.50) – ($2.50x 15,000)

Effect on net income = $52,500-$37,500

Effect on net income = $15,000 Increase

Therefore If Bluebird accepts this additional business , the effect on net income will be :$15,000 Increase

Here are data on two companies. The T-bill rate is 4.8% and the market risk premium is 5.9%. Company $1 Discount Store Everything $5 Forecast return 12 % 11 % Standard deviation of returns 12 % 14 % Beta 1.6 1.0 What would be the fair return for each company, according to the capital asset pricing model (CAPM)? (Round your answers to 2 decimal place

Answers

Answer and Explanation:

The computation of the fair return for each company is shown below:

Fair Return = Risk free rate of return + Beta × market risk premium

= 4.8 + 1.6 × 5.9  

= 14.24%

Now  

Everything $5 is

= 4.8 + 1 × 5.9

= 10.7%

Hence, the same should be considered

A ________ has reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the group.

Answers

Answer:

Customs union.

Explanation:

Economic integration can be defined as a strategic trade arrangement between countries to eliminate or mitigate trade barriers, as well as coordinate fiscal and monetary policy among its members.

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time. There are different types of market or trade bloc used in economic integration and these includes;

I. Political union.

II. Free trade area.

III. Common market.

IV. Economic union.

VI. Customs union.

A customs union can be defined as an agreement between a group of states (two or more neighboring countries) to minimize or eliminate customs duty, remove trade barriers and adopt a common external tariff on imported goods outside the union.

Hence, a customs union is established to reduce or eliminate internal tariffs while adding a common external tariff on products imported from countries outside the group in order to allow free trade among themselves.

Answer:

Customs union.

Explanation:

A Customs union has reduced or eliminated internal tariffs and adds a common external tariff on products imported from countries outside the group.

Description Term or Phrase 1. Examines whether financial statements are prepared using GAAP. 2. Procedures set up to protect company property and equipment, ensure reliable accounting, promote efficiency, and encourage adherence to policies. 3. A less expensive and more effective means to stop fraud. 4. Three factors push a person to commit fraud: opportunity, pressure, and rationalization. 5. Beliefs that distinguish right from wrong.

Answers

Answer:

1. Audit

2. Internal control

3. Prevention

4. Fraud triangle

5. Ethics

Explanation:

1. Audit: it involves the process of examining whether financial statements are prepared using the Generally Accepted Accounting Principles (GAAP).

2. Internal control: they are procedures set up to protect company property and equipment, ensure reliable accounting, promote efficiency, and encourage adherence to policies.

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.

3. Prevention: it's a less expensive and more effective means to stop fraud.

4. Fraud triangle: three factors push a person to commit fraud: opportunity, pressure, and rationalization.

5. Ethics: beliefs that distinguish right from wrong.

1. Generally accepted accounting principles (GAAP), the accepted standards for financial reporting, are examined to see whether the financial statements were prepared in accordance with them.

2. Internal controls are safeguards implemented by a business to protect its resources, ensure correct accounting, promote efficiency, and encourage adherence to policies. They help reduce risk and protect resources for the business.

3. Cost-effective prevention: This idea emphasizes fraud prevention strategies that are both less expensive and more successful. It focuses on the application of effective techniques to identify and discourage fraudulent activity within an organization.

4. According to the fraud triangle, opportunity, pressure and rationalization are the three elements that can lead to fraudulent behavior. When these factors come together, people may be more likely to commit fraud.

5. Ethical Values: Moral standards are the ideas and precepts that help people to decide what is right and what is wrong. They act as a moral guide for choices and mold the behavior of people and organizations by promoting integrity and accountability.

Learn more about GAAP, here:

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Hocker Company issues $200,000 of ten-year, 8% bonds to yield 10% on January 1, 20X1. The bonds pay interest annually on December 31. The bonds were sold at a discount of $24,578. The bond interest expense for 20X1 is:

Answers

Answer:

$16,000.

$17,542.

$20,000.

Explanation:

It just is

The bonds were sold at a discount of $24,578. The bond interest expense for 20X1 is $16,000, $17,542, $20,000.

What is a bond?

A bond is a sort of security used in finance where the issuer owes the holder a debt and is required, depending on the terms, to repay the principal and interest on the bond at the maturity date.

The interest is typically due at predetermined intervals, such semiannually, annually, and less frequently at various times.

A bond is therefore a type of loan or IOU. With the help of bonds, the borrower can finance long-term investments or, in the case of government bonds, current expenses.

Although both stocks and bonds are considered securities, stockholders have an equity ownership in a corporation, whereas bondholders have a creditor stake.

Bondholders have precedence over stockholders in terms of debt. In the event of bankruptcy, they will receive payment before stockholders but after secured creditors.

Another distinction is that, unlike stocks, which often have an unlimited shelf life, bonds typically have a defined term, or maturity, after which the bond is repaid.

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A firm is considering a project requiring an investment of $30,000. The project would generate an annual cash flow of $7,251 for the next six years. The company uses the straight-line method of depreciation with no mid-year convention. Ignore income taxes. The approximate internal rate of return for the project is: __________

a.11%.
b.10%.
c.12%.
d.9%.

Answers

Answer:

c.12%

Explanation:

PVF of  12% for 6 years is 4.11

PVFof 11% for 6 years is 4.23

Present value of cash inflows, 12% = 7251*4.11

Present value of cash inflows, 12% = 29801.61

Present value of cash inflows, 11% = 7251*4.23

Present value of cash inflows, 11% = 30671.73

Internal rate of return = 11% + (30671.73 - 30000)/(30671.73-29801.61)

Internal rate of return = 11.7719969659%

Internal rate of return = 11.772%

A set of procedures and approvals for verifying, approving and recording liabilities for eventual cash payment, and for issuing checks for payment only of verified, approved, and recorded liabilities is referred to as a(n):

Answers

Answer:

Voucher system.

Explanation:

voucher system can be regarded as methodused in authorizing when it comes to disbursement of cash. A voucher that will give identification of

amount, account number that is needed to pay on is been filled.

It should be noted that the A set of procedures and approvals for verifying, approving and recording liabilities for eventual cash payment, and for issuing checks for payment only of verified, approved, and recorded liabilities is referred to as Voucher system..

Wilson's is reviewing a project with an internal rate of return of 13.09 percent and a beta of 1.42. The market risk premium is 8.1 percent, the tax rate is 35 percent, and the risk-free rate is 2.9 percent. The firm's WACC is 12.68 percent. Will the project be accepted if the WACC is used as the discount rate for the project

Answers

Answer:

Yes, The project will  be accepted.

Explanation:

Projects should be accepted when their internal rate of return is greater than the Weighted Average Cost of Capital (WACC). The WACC represents the cost or risk of the company so if the return is greater than the risk, then this will be favorable.

Poe Company is considering the purchase of new equipment costing $81,500. The projected net cash flows are $36,500 for the first two years and $31,500 for years three and four. The revenue is to be received at the end of each year. The machine has a useful life of 4 years and no salvage value. Poe requires a 10% return on its investments. The present value of an annuity of 1 and present value of an annuity for different periods is presented below. Compute the net present value of the machine.

Answers

Answer:

$27,028.45

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.

Cash flow in year 0 = $-81,500

Cash flow in year 1 and 2 = $36,500

Cash flow in year 3 and 4 = $31,500

I - = 10%

NPV = $27,028.45

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  

hen Steve Jobs updated his company name from Apple Computer to Apple in 2007, which part of the brand positioning was he changing

Answers

Answer:

Frame of reference

Explanation:

In simple words, The "frame of reference" in marketing refers to how the targeted customer perceives a latest brand, service, or proposition. This conjures up a certain image or impression of a product, service, or concept that is being promoted. A frame of reference can be understood as the point of comparative valuation that your advertisers may use to assist position and distinguish your goods in the business.

A student borrows $95,000 for business school at 4.5% stated annual interest with monthly repayment over 9 years. Consider this as a loan with no payments or interest during school so that the problem structure is equivalent to a standard loan received one period before the first payment. Suppose that to better match expected student salary growth over time, the loan is structured as a growing annuity with each monthly payment growing by 0.3% compared to the previous monthly payment. How much is the first monthly payment

Answers

Answer:

$918.70 or $900

Explanation:

The computation of the first monthly payment is given below:

Interest rate per Month is

= Annual Rate ÷ 12

= 4.50% ÷ 12

= 0.375%

Now

Present Value of Growing Annuity = First payment × (1 - ((1 + Growth Rate) ÷ (1 + Interest Rate))^Periods) × 1 ÷  (Interest Rate - Growth Rate)

95000 = First payment × (1 - ((1 + 0.30%) ÷ (1 + 0.375%))^108) × 1 ÷ (0.375% - 0.30%)

95000 = First payment × (1 - 0.999252^108) × 1 ÷ (0.075%)

95000 = First payment × (1 - 0.92244) × 1 ÷ (0.075%)

95000 = First payment × 103.4067

First payment = $918.70 or $900

Any effort by the Federal Trade Commission (FTC) to evaluate expected deceptive marketing practices would be seriously flawed because it would mean punishing business on the basis of what the FTC thinks might happen rather than on what actually does happen.

a. True
b. False

Answers

Answer:

True

Explanation:

This is true because the Federal Trade commission(FTC) analyze and investigate a seller or sellers who may be so cooperative as to make agreements that ensure large amounts of profit for them which is likely harmful and exploitative to consumers . FTC investigates business mergers which may be horizontal or vertical that are likely done for the purpose of increasing market share and fostering a sort of monopoly of the market. However, mergers and cooperation among businesses in the market do not always yield a monopoly and the FTC may be wrong(sometimes) to wave mergers that could increase the quality of goods or services in a market

3) Monopolists set prices A) At the minimum of the long-run average total cost curve. B) Without constraints since there is no competition. C) On the marginal revenue curve. D) At the output where marginal revenue equals marginal cost.

Answers

Answer:

D At the output where marginal revenue equals marginal cost.

Explanation:

As we know that the monopolist have the market power so we can said that the prices can be set at the output level i.e. when the marginal revenue is equivalent to the marginal cost

So as per the given options, the option d is correct

And, the same should be considered and relevant

When Chernobyl melted down in the Soviet Union, the: a. price of U.S. basketballs increased. b. prices of assets reacted slowly to the information. c. price of U.S. potatoes increased. d. stock prices of U.S. nuclear plants increased.

Answers

Answer: d. stock prices of U.S. nuclear plants increased.

Explanation:

Chernobyl was a nuclear power plant in the former Soviet Union that was being used to produce electricity until it suffered a meltdown that effectively rendered the surrounding areas unlivable.

In response to this disaster, the stock prices of U.S. nuclear power plants went up because the Soviet meltdown not only reduced the supply of nuclear powered electricity but also showed that American engineering was superior and so people bought more American nuclear plant shares which took its price up.

For each of the following products and services, indicate whether it is more likely produced in a process operation or in a job order operation.
1. Beach towels
2. Bolts and nuts
3. Lawn chairs
4. Headphones
5. Designed patio
6. Door hardware
7. Cut flower arrangements
8. House paints
9. Concrete swimming pools
10. Custom tailored dresses
11. Grand pianos
12. Table lamps

Answers

Answer:

S/n  Product and services                     Indication

1      Beach towels                                   Process operation

2     Bolts and nuts                                  Process operation

3      Lawn chairs                                     Process operation

4      Headphones                                   Process operation

5      Designed patio                               Job order operation

6      Door hardware                               Process operation

7      Cut flower arrangements               Job order operation

8      House paints                                  Process operation

9      Concrete swimming pools            Job order operation

10     Custom tailored dresses              Job order operation

11      Grand pianos                                Job order operation

12     Table lamps                                  Process operation

Corporations differ from partnerships and other forms of business association in two ways. One of these is that:________.
a. they are regulated by the Federal Trade Commission.
b. they are formed simply by an agreement entered into among their members.
c. they must be publicly registered or in some way officially acknowledged by the law.
d. their shareholders are entitled to their share of the company's profits as soon as they are ascertained or determined.

Answers

Answer: c. they must be publicly registered or in some way officially acknowledged by the law.

Explanation:

Corporations tend to have many shareholders who would get hurt if the company fails and for this reason they are regulated by the law. They must be publicly registered to allow people to purchase and sell shares and they must have the official acknowledgement of the law.

The formation of a corporation can be complicated and require a relatively high number of legal processes and corporations are not regulated by the Federal Trade Commission.

Also, even though shareholders are technically entitled to the company's profits, they don't get to collect it immediately because the company needs money to function and grow.

At year-end, Barr Co. had shipped $12,500 of merchandise FOB destination to Lee Co. Which company should include the $12,500 of merchandise in transit as part of its year-end inventory?

Answers

Answer: Barr Co.

Explanation:

Merchandise in transit refers to the merchandise which has already left the seller's shipping dock but hasn't gotten to the buyer's shipping dock.

In this case, since Barr Co. shipped the $12,500 of merchandise FOB destination to Lee Co and the goods have gotten to Lee Co, the company that they should include the $12,500 of merchandise in transit as part of its year-end inventory is Barr Co.

Kremena's bank account earns 4.5% simple interest. How much must she deposit in the account today if she wants it to be worth $1,250 in 3 years

Answers

Answer:

$1,101.32

Explanation:

Simple interest accounts balances are calculated using the following formula

A = P ( 1 + rt)

where:

A = final account balance

P = starting balance

r = interest rate (annually) percentage divided by 100

t = years

Therefore, we can plug in the values provided in this formula and solve for P which would be the amount that Kremena needs to deposit.

1,250 = P ( 1 + (0.045 * 3))

1,250 = P * 1.135  ... divide both sides by 1.135

1,101.32 = P

Finally, we can see that Kremena would need to deposit a total of $1,101.32 to have the amount that she wants after 3 years.

đối với những sản phẩm thuộc ô ngôi sao trong ma trận BCG thì lời khuyên dành cho nhà quản trị học là nên tiếp tục hi sinh lợi nhuận ngắn hạn để gia tăng thị phần trong tương lại. đúng hay sai giải thích

Answers

Answer:

??

Explanation:

Song, Inc., uses the high-low method to analyze cost behavior. The company observed that at 22,000 machine hours of activity, total maintenance costs averaged $33.40 per hour. When activity jumped to 25,000 machine hours, which was still within the relevant range, the average total cost per machine hour was $30.40.On the basis of this information, the variable cost per machine hour was:___________A. $8.40.B. $22.00.C. $25.00.D. $30.40.E. $33.40.

Answers

Answer:

Variable cost per unit= $8.4

Explanation:

First, we need to calculate the total cost for each level of machine hours:

Low activity level:

Total cost= 22,000*33.4= $734,800

High activity level:

Total cost= 25,000*30.4= $760,000

Now, we can determine the variable and fixed costs:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (760,000 - 734,800) / (25,000 - 22,000)

Variable cost per unit= $8.4

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 760,000 - (8.4*25,000)

Fixed costs= $550,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 734,800 - (8.4*22,000)

Fixed costs= $550,000

A monopolistically competitive firm is currently producing 20 units of output. At this level of output the firm is charging the highest price it can at $20, has marginal revenue equal to $12, has marginal cost equal to $12, and has average total cost equal to $18. From this information we can infer that a. firms are likely to leave this market in the long run. b. the firm is currently maximizing its profit. c. the firm is earning zero profit. d. the profits of the firm are negative.

Answers

Answer:

Option b (the firm is currently maximizing its profit) is the right approach.

Explanation:

Given values are:

[tex]P=20[/tex][tex]Q=20[/tex][tex]ATC=18[/tex]

Now,

The profit will be:

= [tex]P\times Q-(ATC\times Q)[/tex]

By substituting the values, we get

= [tex]20\times 20-18\times 20[/tex]

= [tex]400-360[/tex]

= [tex]40[/tex]

Thus, the above is the correct answer.

Bellevue Company has 26,000 units of inventory on hand at December 31. It sold 1,950 units which are in transit and were shipped FOB destination. Bellevue purchased 3,250 units which were shipped FOB shipping point by the seller and are still in transit. What is the total amount of inventory to which Bellevue has legal title at December 31

Answers

Answer:

24050

Explanation:

Calculation to determine the total amount of inventory to which Bellevue has legal title at December 31

Using this formula

Inventory=Inventory on hand at December 31- Units in Transit

Let plug in the formula

Inventory=26,000 units- 1,950 units

Inventory=24050

Therefore the total amount of inventory to which Bellevue has legal title at December 31 is 24050

Equilibrium in financial markets occurs at an interest rate where the quantity of loanable funds demanded is

Answers

Answer: c. equal to the quantity of loanable funds supplied.

Explanation:

Equilibrium in any market occurs when the quantity demanded is equal to the quantity supplied and the loanable funds market are no different except that the quantity that is demanded and supplied in this market is the loanable funds and the price is the interest rate.

When the interest rate being offered by the financial institutions lending money is the same as the one being demanded by the people and companies who want loanable funds, the market is said to be in equilibrium.

Which of the following has the greatest impact on how long an employee stays with an organization and how productive the employee is while there?
a. The employee's coworkers
b. The employee's relationship with their immediate manager
c. How much the employee is paid
d. Promotion opportunities

Answers

Answer: The employee's relationship with their immediate manager.

Explanation:

Despite the fact that the options given have an effect on how long an employee will stay in an organization, the greatest impact will be the employee's relationship with their immediate manager.

When a worker has a bad relationship with their immediate manager, this beings about disruption in communication and there won't be a cordial relationship with the manager. This affects the worker and can lead to the worker finding another job.

Good Note Company specializes in the repair of music equipment and is owned and operated by Robin Stahl. On November 30, 2016, the end of the current year, the accountant for Good Note Company prepared an unadjusted trial balance and an adjusted trial balance.Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.Adjusted Trial BalanceGood Note CompanyADJUSTED TRIAL BALANCENovember 30, 2016 ACCOUNT TITLE DEBIT CREDIT1 Cash 38,250.002 Accounts Receivable 89,500.003 Supplies 2,400.004 Prepaid Insurance 3,850.00 5 Equipment 290,450.006 Accumulated Depreciation-Equipment 106,100.007 Automobiles 129,500.008 Accumulated Depreciation-Automobiles 62,050.009 Accounts Payable 26,130.0010 Salaries Payable 8,100.0011 Unearned Service Fees 9,000.0012 Common Stock 100,000.0013 Retained Earnings 224,020.0014 Dividends 75,000.0015 Service Fees Earned 742,800.0016 Salaries Expense 525,000.0017 Rent Expense 54,000.0018 Supplies Expense 8,850.0019 Depreciation Expense-Equipment 11,600.0020 Depreciation Expense-Automobiles 7,300.0021 Utilities Expense 14,100.0022 Taxes Expense 8,175.0023 Insurance Expense 10,400.0024 Miscellaneous Expense 9,825.0025 Totals 1,278,200.00 1,278,200.00Chart of AccountsCHART OF ACCOUNTSGood Note CompanyGeneral Ledger ASSETS11 Cash12 Accounts Receivable13 Supplies14 Prepaid Insurance16 Equipment17 Accumulated Depreciation-Equipment18 Automobiles19 Accumulated Depreciation-Automobiles LIABILITIES21 Accounts Payable22 Salaries Payable23 Unearned Service Fees EQUITY31 Common Stock32 Retained Earnings33 Dividends REVENUE41 Service Fees Earned EXPENSES51 Salaries Expense52 Rent Expense53 Supplies Expense54 Depreciation Expense-Equipment55 Depreciation Expense-Automobiles56 Utilities Expense57 Taxes Expense58 Insurance Expense59 Miscellaneous ExpenseJournalShaded cells have feedback.Compare the unadjusted trial balance to the adjusted trial balance. Journalize the seven entries that adjusted the accounts at November 30. None of the accounts were affected by more than one adjusting entry. Refer to the Chart of Accounts for exact wording of account titles.

Answers

Answer:

Good Note Company

Journal Entries:

Debit 23 Unearned Service Fees $9,000

Credit 41 Service Fees Earned $9,000

To record earned fees.

Debit 51 Salaries Expense $8,100

Credit 22 Salaries Payable $8,100

To record accrued salaries.

Debit 53 Supplies Expense $8,850

Credit 13 Supplies $8,850

To record used supplies.

Debit 54 Depreciation Expense-Equipment 11,600

Credit 17 Accumulated Depreciation-Equipment $11,600

To record depreciation expense for the period.

Debit 55 Depreciation Expense-Automobiles 7,300

Credit 19 Accumulated Depreciation-Automobiles  $7,300

To record depreciation expense for the period.

Debit 56 Utilities Expense $1,200

Credit 21 Accounts Payable $1,200

To record accrued utilities expense.

Debit 58 Insurance Expense $10,400

Credit 14 Prepaid Insurance $10,400

To record expired insurance.

Explanation:

a) Data and Calculations:

Good Note Company

UNADJUSTED TRIAL BALANCE

November 30, 2016

  ACCOUNT TITLE          DEBIT           CREDIT

1  Cash                                     38,250

2  Accounts Receivable         89,500

3 Supplies                               11,250

4 Prepaid Insurance             14,250

5 Equipment                     290,450

6 Accumulated Depreciation-Equipment     94,500

7 Automobiles                   129,500

8 Accumulated Depreciation-Automobiles 54,750

9  Accounts Payable            24,930

10  Salaries Payable

11   Unearned Service Fees                           18,000

12  Common Stock                                      100,000

13  Retained Earnings                                224,020

14  Dividends                                                75,000

15 Service Fees Earned                            733,800

16  Salaries Expense                                 516,900

17  Rent Expense                                        54,000

18  Supplies Expense

19  Depreciation Expense-Equipment

20 Depreciation Expense-Automobiles

21  Utilities Expense            12,900

22  Taxes Expense                8,175

23 Insurance Expense

24  Miscellaneous Expense  9,825

25 Totals                        1,250,000       1,250,000

Good Note Company

ADJUSTED TRIAL BALANCE

November 30, 2016

ACCOUNT TITLE DEBIT CREDIT

1 Cash 38,250

2 Accounts Receivable 89,500

3 Supplies 2,400

4 Prepaid Insurance 3,850

5 Equipment 290,450

6 Accumulated Depreciation-Equipment 106,100

7 Automobiles 129,500

8 Accumulated Depreciation-Automobiles 62,050

9 Accounts Payable 26,130

10 Salaries Payable 8,100

11 Unearned Service Fees 9,000

12 Common Stock 100,000

13 Retained Earnings 224,020

14 Dividends 75,000

15 Service Fees Earned 742,800

16 Salaries Expense 525,000

17 Rent Expense 54,000

18 Supplies Expense 8,850

19 Depreciation Expense-Equipment 11,600

20 Depreciation Expense-Automobiles 7,300

21 Utilities Expense 14,100

22 Taxes Expense 8,175

23 Insurance Expense 10,400

24 Miscellaneous Expense 9,825

25 Totals 1,278,200.00 1,278,200

Analysis of Adjustments:

23 Unearned Service Fees $9,000 41 Service Fees Earned $9,000

51 Salaries Expense $8,100 22  Salaries Payable $8,100

53 Supplies Expense $8,850 13 Supplies $8,850

54 Depreciation Expense-Equipment 11,600 17 Accumulated Depreciation-Equipment $11,600

55 Depreciation Expense-Automobiles 7,300 19 Accumulated Depreciation-Automobiles  $7,300

56 Utilities Expense $1,200 21 Accounts Payable $1,200

58 Insurance Expense $10,400 14 Prepaid Insurance $10,400

However, similar to bonds, preferred stockholders receive a fixed payment—their dividend—before the company’s residual earnings are paid out to its common stockholders and, as with common stock, preferred stockholders can benefit from an appreciation in the value of the firm’s stock securities. Consider the following case of Wellington Industries: Wellington Industries pays an annual dividend rate of 8.00% on its preferred stock that currently returns 10.72% and has a par value of $100.00 per share. What is the value of Wellington’s preferred stock?

Answers

Answer: $74.63

Explanation:

Preferred shares are treated like perpetuities which means that the value is:

= Annual dividend/required return

Annual dividend:

= Dividend rate * Par value

= 8% * 100

= $8.00

Value of share = 8 / 10.72%

= $74.6269

= $74.63

According to a survey done by the Anti-Fraud Collaboration, the majority of participants believe it is the job of senior executives within an organization to set the tone to deter fraud.
a) true
b) false

Answers

I think it’s mostly likely false
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