Peck Company purchased Sanno Company common stock in a series of open-market cash purchases from 2012 through 2014 as follows: Date Shares Acquired Cost January 1, 2012 1,830 $45,400 January 1, 2013 4,575 94,500 January 1, 2014 10,065 265,716 Sanno Company had 18,300 shares of $20 par value common stock outstanding during the entire period. Retained earnings balances for Sanno Company on relevant dates were January 1, 2012 $19,600 January 1, 2013 (30,600 ) January 1, 2014 83,800 December 31, 2014 170,000 Dividends in the amount of $50,600 were distributed by Sanno Company only in 2014. Any difference between implied and book values is assigned to goodwill. Peck Company uses the cost method to account for its investment in Sanno Company. Collapse question part (a) Prepare the journal entries that Peck Company would record on its books during 2014 to account for its investment in Sanno Company.

Answers

Answer 1

Answer:

Peck Company

Journal Entries:

January 1, 2012:

Debit Investment in Sanno Company $45,400

Credit Cash $45,400

To record the investment in 1,830 shares (or 10%).

January 1, 2013:

Debit Investment in Sanno Company $94,500

Credit Cash $94,500

To record the investment in 4,575 shares (or 25%).

January 1, 2014:

Debit Investment in Sanno Company $265,716

Credit Cash $265,716

To record the investment in 10,065 shares (or 55%).

Explanation:

a) Data and Calculations:

Date                 Shares Acquired       Cost        Percentage

January 1, 2012           1,830          $45,400          10% (1,830/18,300 * 100)

January 1, 2013          4,575            94,500         25% (4,575/18,300 * 100)

January 1, 2014        10,065           265,716         55% (10,065/18,300 * 100)

Total shareholding  16,470         $405,616

Sanno's shares        18,300 at $20 par value

January 1, 2014:

Non-controlling interest = 1,830 (18,300 - 16,470) 10% (1,830/18,300 * 100)

Transaction Analysis:

January 1, 2012: Investment in Sanno Company $45,400 Cash $45,400 for 1,830 shares (or 10%)

January 1, 2013: Investment in Sanno Company $94,500 Cash $94,500 for 4,575 shares (or 25%)

January 1, 2014: Investment in Sanno Company $265,716 Cash $265,716 for 10,065 shares (or 55%)


Related Questions

In a process operation, each process has a separate department which will accumulate costs for each of the following: Multiple select question. administrative direct labor overhead sales direct materials

Answers

Answer:

overhead

direct labor

direct materials

Explanation:

Process operations can be regarded as process manufacturing it can be explained as mass production method that is been followed when producing products following a continuous flow.

It can be regarded conveyer belt system which brings about production of identical as well as standardized item with fast rate as regards the speed. It should be noted that In a process operation, each process has a separate department which will accumulate costs for ;

✓overhead ( ongoing costs that is gotten in operation of a business)

✓direct labor

✓direct materials

A company is offering perpetual preferred stock (its dividend payments last forever) with a fixed annual dividend of $100. If your required rate of return on this investment is 12 percent, what is the value of each share

Answers

Answer:

833.33

Explanation:

The fixed annual dividend is $100

The required rate of return on this investment is 12%

Therefore the value for each share can be calculated as follows

= 100/(12/100)

= 100/0.12

= 833.33

Hence the value for each share is 833.33

Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about life. From an early age he knew exactly what he wanted to become, and now as a man, he is confident about his career and family and want to leave them a good life when he departs this life. Frank express that he is not afraid of dying but he wants them to be ok when he is gone.
At work Frank is helpful to his colleagues, and even in his community he is well-known among the elderly since he is always putting on Christmas treats for them.
Imagine that Frank is your colleague, and that your boss asks you to write a character reference for Frank. Using Jung’s personality theory to guide your writing, present a minimum one- page character reference in which you spell out Franks behaviour, his outlook on life, his philosophy about people and all the other important things you know about him. Ensure you point out how these different parts of Franks life fits into Jung’s theory and overall what Jung’s theoretical concept says about him.

Answers

Answer:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Explanation:

I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.

Costs of $5,000 were incurred to acquire goods and make them ready for sale. The goods were shipped to the buyer (FOB shipping point) for a cost of $200. Additional necessary costs of $400 were incurred to acquire the goods. No other incentives or discounts were available. What is the buyer's total cost of merchandise inventory?a. $5,000.b. $5,200.c. $5,400. d. $5,600.

Answers

Answer:

d. $5,600

Explanation:

The computation of the total cost of merchandise inventory is shown below:

Cost of goods purchased $5,000

Add: Shipping charges (FOB point) $200

Additional necessary costs to purchase the goods $400

Buyer’s total cost of merchandise inventory $5,600

Hence, the total cost of merchandise inventory is $5,600

Therefore the option d is correct

What is one result of competition in a free-market economy?
A. The government decides who is allowed to compete in the market.
B. Consumers can choose which company's products they want to
buy.
C. Traditional values determine who will compete in the market.
D. Businesses control the price that all the companies within an
industry can charge.

Answers

Answer:

b

Explanation:

April 1 April 30 Raw materials inventory $10,500 $13,500 Work in process inventory 5,350 3,770 Materials purchased in April $98,100 Direct labor in April 80,300 Manufacturing overhead in April 160,000 Prepare the cost of goods manufactured schedule for the month of April

Answers

Answer:

cost of goods manufactured= $336,980

Explanation:

First, we need to calculate the direct material used:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 10,500 + 98,100 - 13,500

Direct material used= $95,100

Now, the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 5,350 + 95,100 + 80,300 + 160,000 - 3,770

cost of goods manufactured= $336,980

May 31, Novac Corp. Has net sales of $415,000 in cost of goods available for sale of $286,000 compute the estimated cost of the ending inventory assuming the gross profit rate is 37%

Answers

Answer:

$24,550

Explanation:

Computation for the estimated cost of the ending inventory

Net Sales = $415,000

Gross Profit rate= 37%

Cost of goods Sold = 100%- 37% = 63%

Cost of Goods Sold =$415,000*63% = $261,450

Cost of Goods Available for sale = $286,000

Using this formula

Estimated Cost of Ending Inventory= Cost of goods available for sale - Cost of Goods Sold

Let plug in the formula

Estimated Cost of Ending Inventory = $286,000-$261,450

Estimated Cost of Ending Inventory = $24,550

Therefore the estimated cost of the ending inventory is $24,550

ABC Bank requires a 20% down payment on all of its home loans. If a house
is priced at $145,000, what is the amount of the down payment required by
the bank?
A. $29,000
B. $290,000
C. $14,500
D. $18,000

Answers

$29,000

The equation used to find this is the following: 145,000 x .20

Hope this helps! Please make me the brainliest, it’s not necessary but appreciated, I put a lot of effort and research into my answers. Have a good day, stay safe and stay healthy.

On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________.

Answers

Answer:

The correct answer is "$15,000".

Explanation:

Given:

Value,

= $250,000

Interest rate,

= 6%

The Interest Payment will be:

[tex]Value\times Interest \ rate[/tex]

= [tex]250,000\times 6[/tex]%

= [tex]15,000[/tex] ($)

Express net income as a common-size percentage using the following data.

Sales $45,000
Cost of goods sold $29,340
Gross profit from sales $15,660
Operating expenses $10,800
Net income $4,860.

a. 100 percent
b. 31 percent
c. 12 percent
d. 10.8 percent

Answers

Answer:

i think the answers D 10.8 percent

Andrews Company currently has the following balances in their liability and equity accounts: Total Liabilities: $52,319,000 Common Stock: $8,808,000 Retained Earnings: $45,066,000 Next year the Andrews Company generates $11,500,000 in Net Profit, pays $5,000,000 in dividends, and total liabilities and common stock remain unchanged. What will their total assets be next year

Answers

Answer: $112,693,000

Explanation:

Total assets = Equity + Liabilities

Liabilities will not change in the new year.

Retained earnings = Beginning retained earnings + Net income - Dividends

= 45,066,000 + 11,500,000 - 5,000,000

= $51,566,000

Assets = (8,808,000 + 51,566,000) + 52,319,000

= $112,693,000

Note: Equity is the sum of common stock and retained earnings

calculator solutionvChang is investing $2,500 today and will do so at the beginning of each of the next six years for a total of seven payments. If her investment can earn 12 percent annually, how much will she have at the end of seven years

Answers

Answer: $28,249.25

Explanation:

As the payments are constant, this represents an annuity. Also, as the payment is made at the beginning of every period, it is an Annuity Due.

The value of the end of the 7 years is the future value of the annuity due which is found by:

= Annuity * Future value factor of an annuity, 7 years, 12%

= 2,500 * 11.2997

= $28,249.25

Botox Facial Care had earnings after taxes of $282,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $81.80. In 20X2, earnings after taxes increased to $418,000 with the same 200,000 shares outstanding. The stock price was $94.00.

Required:
a. Compute earnings per share and the P/E ratio for 20X1.
b. Compute earnings per share and the P/E ratio for 20X2.
c. Why did the P/E ratio change? (

Answers

Answer:The earnings per share and The P/E ratio  for 20X1 is $1.41 and  $58.01 respectively.

The earnings per share and The P/E ratio  for 20X2 is $2.09 and   $44.976 respectively.

Explanation:

a. Earning per shares = Earning after Taxes / total Shares outstanding  

                                  = $282,000/200,000  

                                   = $1.41

Therefore, The earnings per share for 20X1 is $1.41

P/E RATIO = Price Per shares/Earning per shares  

               = $81.80/$1.41  

                = $58.01

Therefore, The P/E ratio for 20X1 is  $58.01

b. Earning per shares = Earning after Taxes / total Shares outstanding  

                                  = $418,000/200,000  

                                   = $2.09

Therefore, The earnings per share for 20X2 is $2.09

P/E RATIO = Price Per shares/Earning per shares  

               = $94.00/$2,09  

                = $44.976

Therefore, The P/E ratio for 20X2 is  $44.976

c.The P/E ratio changed from $58.01 to $44.976 because of the change in earnings per share and the stock price per share.

BusCorp wants to introduce a new procedure to improve how customer requests are handled. This change will require employees to break old routines and adopt new role patterns. They decide to adopt two new programs, one in which employees learn how to work as teams as the company changes. The other involves forming task forces within the company to help determine ne customer service practices.
The formation of task forces to minimize resistance to change is known as:_______.
A. communication.
B. learning.
C. stress management.
D. negotiation.
E. employee involvement.

Answers

Answer:

E)Employee involvement

Explanation:

Employee involvement can be regarded as taking part of employees in decision-making process that are crucial to the organization, so that the goals of the organization are met. When employees there is involvement of employees in making decisions, there will be some professional as well as personal stake gained by the employee in the organization as well as the organization overall success. As a result of this there would be increased productivity in part of employees because they will take part actively in various aspects that will bring about success of the firm.

Denzel Brooks opened a Web consulting business called Venture Consultants and completes the following transactions in March.

March
1 Brooks invested $185,000 cash along with $26,000 in office equipment in the company
2 The company prepaid $8,000 cash for six months' rent for an office. Hint: Debit Prepaid Rent for $8,000.
3 The company made credit purchases of office equipment for $5,100 and office supplies for $2,000. Payment is due within 10 days.
6 The company completed services for a client and immediately received $5,500 cash.
9 The company completed a $8,500 project for a client, who must pay within 30 days.
12 The company paid $7,100 cash to settle the account payable created on March 3.
19 The company paid $6,200 cash for the premium on a 12-month insurance policy. Hint: Debit Prepaid Insurance for $6,200.

Required:
a. Prepare general journal entries to record these transactions.
b. Post the journal entries from part 1 to the ledger accounts.
c. Prepare a trial balance as of the end of March.

Answers

Answer:

Venture Consultants

1. Journal Entries:

March 1 Debit Cash $185,000

Debit Office equipment $26,000

Credit Common stock $211,000

March 2 Debit Prepaid Rent $8,000

Credit Cash $8,000

March 3 Debit Office equipment $5,100

Debit Office supplies $2,000

Credit Accounts payable $7,100

March 6 Debit Cash $5,500

Credit Service revenue $5,500

March 9 Debit Accounts receivable $8,500

Credit Service revenue $8,500

March 12 Debit Accounts payable $7,100

Credit Cash $7,100

March 19 Debit Prepaid Insurance $6,200

Credit Cash $6,200

b. T-accounts:

Cash

Date        Account Titles             Debit        Credit

March 1   Common stock         $185,000

March 2  Prepaid Rent                              $8,000  

March 6  Service revenue            5,500  

March 12 Accounts payable                        7,100

March 19 Prepaid Insurance                      6,200

March 31 Balance                                 $169,200

Prepaid Rent

Date        Account Titles             Debit        Credit

March 2  Cash                            $8,000

Prepaid Insurance

March 19 Cash                          $6,200

Office equipment

Date        Account Titles             Debit        Credit

March 1   Common stock          $26,000

March 3  Accounts payable           5,100

March 31 Balance                                      $31,100

Office supplies

Date        Account Titles             Debit        Credit

March 3  Accounts payable     $2,000

Accounts receivable

Date        Account Titles             Debit        Credit

March 9  Service revenue         $8,500

Accounts payable

Date        Account Titles             Debit        Credit

March 3 Office equipment                         $5,100

March 3 Office supplies                            $2,000

March 12 Cash                            $7,100

Common stock

Date        Account Titles             Debit        Credit

March 1   Cash                                           $185,000

March 1   Office equipment                          26,000

March 31 Balance                    $211,000

Service revenue

Date        Account Titles             Debit        Credit

March 6  Cash                                         $5,500

March 9  Accounts receivable                  8,500

March 31 Balance                     $14,000

c. Trial Balance as of March 31

Date        Account Titles             Debit        Credit

Cash                                      $169,200

Prepaid rent                                8,000

Prepaid insurance                      6,200

Accounts receivable                  8,500

Office equipment                       31,100

Office supplies                           2,000

Common stock                                        $211,000

Service Revenue                                         14,000

Totals                                  $225,000  $225,000

Explanation:

a) Data and Analysis:

March 1 Cash $185,000 Office equipment $26,000 Common stock $211,000

March 2 Prepaid Rent $8,000 Cash $8,000

March 3 Office equipment $5,100 Office supplies $2,000 Accounts payable $7,100

March 6 Cash $5,500 Service revenue $5,500

March 9 Accounts receivable $8,500 Service revenue $8,500

March 12 Accounts payable $7,100 Cash $7,100

March 19 Prepaid Insurance $6,200 Cash $6,200

Arya has a homeowner’s policy that covers up to $400,000. Her house is completely destroyed in a fire. When an assessment is made of the house and possessions, it is decided that her losses are only worth about $350,000. How much money will Arya receive from her insurer (assuming there is no deductible)? A. $50,000 B. $200,000 C. $350,000 D. $400,000

Answers

Answer:

C: 350,000$

Explanation:

If there is no deductible then the insurance would pay the damges. Damages were 350,00$

Monty Corp. has been in business for several years. At the end of the current year, the ledger shows: Accounts Receivable $ 326,200 Dr. Sales Revenue 2,761,700 Cr. Allowance for Doubtful Accounts 6,100 Cr. Uncollectible accounts are estimated to be 6% of accounts receivable. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answers

Answer and Explanation:

The journal entry is shown below:

Bad debt expense Dr  $13,472

    To allowance for doubtful debts  $13,472

(Being the bad debt expense is recorded)

The bad debt expense is

= 6% of $326,200 - $6,100

= $13,472

Here the bad debt expense is debited as it increased the assets and credited the allowance for doubtful debts

An organization's budget program should not be used: Group of answer choices to motivate employees. to assign blame to managers that do not meet budgetary goals. to help evaluate managers. to allocate resources to the various parts of an organization.

Answers

Answer:

to assign blame to managers that do not meet budgetary goals.

Explanation:

A budget is used to forecast a company's income and expenses over a specified period.

Uses of a budget

1. It is used to evaluate the performance of managers in meeting the amounts stated in the budget

2. It is also used in allocating resources to the various parts of an organization. for example, units that have been forecasted to earn a higher revenue would receive a higher part of the budget

3. It is used to develop an action plan for the organisation

Suppose an economy starts the year with $100 million in capital, and during the course of a year, it adds $20 million of gross investment. Economists estimate that the depreciation rate for this economy is 9% per year.

Required:
a. Calculate depreciation and net investment for this economy.
b. Calculate the value of net exports.

Answers

Answer:

Correct word for question b. "Now calculate the amount of next year's beginning capital stock for this economy"

a. Begins the year with $100 million in capital. Depreciation rate is 9% per year

Depreciation = 9% * $100 million

Depreciation = 0.09 * $100 million\

Depreciation = $9 million

Gross investment = $20 million

Net investment = Gross investment - Depreciation

Net investment = $20 million - $9 million

Net investment = $11 million

b. Next year begining capital stock = Capital stock at the begining of previous year + Net investment

Next year begining capital stock = $100 million  + $11 million

Next year begining capital stock = $111 million

According to your reading material, one cause of excessive pressure is a/an __________.
a. overestimation of the severity of one’s own problems
b. lack of sleep
c. lack of self-confidence
d. lack of self-esteem

Answers

Answer: D

Explanation: A lack of self-esteem can lead to reliance others advice which can also lead to excessive pressure by the people your getting advice from.

d.

lack of self-esteem

A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs of $2,000,000. What are earnings per share if the company has 100,000 shares outstanding and no preferred stockholders

Answers

Answer:

$30

Explanation:

Earnings per share = earnings / total outstanding shares

Earnings = total revenue - total cost

total cost = $40,000,000 + $5,000,000 + $2,000,000 = $47,000,000

Earnings = $50,000,000 - $47,000,000 = $3,000,000

Earnings per share = $3,000,000 / 100,000 = $30

Potatoes and wheat output (tons per day)

Country Potatoes Wheat
United States 4 2
Ireland 3 1

The United States has a comparative advantage in producing: __________

a. wheat
b. neither
c. potatoes
d. both

Answers

Answer:

c. potatoes

Explanation:

The computation is shown below:

Opportunity cost of producing 1 tons of wheat is  

for US = 4 ÷ 3 = 1.33 tons of potatoes

for Ireland = 2 ÷ 1 = 2 tons of potatoes

As the opportunity cost is higher in united states of potatoes so here the united stated should be comparative advantage in generating potatoes  

Which ratio measures the number of dollars of operating cash available to meet each dollar of interest and other fixed charges that the firm owes?

Answers

Answer:

Fixed-charge coverage ratio

Explanation:

The fixed-charge coverage ratio can be regarded as a rato that gives the measurements of the ability of a firm have to cover all her fixed charges. These fixed charges could be expense as well as debt payments and interest. It displays the wellness that earnings of a company has to cover its fixed expenses. This ratio is considered by bank before they lend money to a business. It should be noted that Fixed-charge coverage ratio measures the number of dollars of operating cash available to meet each dollar of interest and other fixed charges that the firm owes.

1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts receivable ledger. General Ledger Accounts Receivable Sales End.Bal End.Bal Accounts Receivable Subsidiary Ledger Ski Shop Sales Returns and Allowances End.Bal Welcome Enterprises Zia Natara End.Bal End.Bal Vail Company recorded the following selected transactions during November Current Year Debit Credit 5,238 Date General Journal Nov. 5 Accounts Receivable-Ski Shop Sales 5,238 10 Accounts Receivable-Welcome Enterprises 2,780 Sales 2,780 13 Accounts Receivable-Zia Natara 1,630 Sales 1,630 21 Sales Returns and Allowances 421 Accounts Receivable-Zia Natara 421 30 Accounts Receivable-Ski Shop 5,796 Sales 5,796
2 . Prepare a schedule of accounts receivable VAIL COMPANY Schedule of Accounts Receivable November 30, Current Year Total

Answers

Answer:

Vail Company

1. T-accounts:

a. General Ledger

Accounts Receivable

Date       Account Titles   Debit           Credit

Nov. 5    Sales                  5,238

Nov. 10  Sales                   2,780

Nov. 13  Sales                   1,630

Nov. 21  Sales Returns and Allowances 421

Nov. 30 Sales                  5,796

Nov. 30 Balance                               15,0232

Sales

Date       Account Titles                  Debit           Credit

Nov. 5    Accounts Receivable-Ski Shop            5,238

Nov. 10   Accounts Receivable-

              Welcome Enterprises                          2,780

Nov. 13   Accounts Receivable-Zia Natara         1,630

Nov. 30 Accounts Receivable-Ski Shop           5,796

Nov. 30 Balances                          15,444

Sales Returns and Allowances

Date       Account Titles                           Debit           Credit

Nov. 21 Accounts Receivable-Zia Natara 421

b. Accounts Receivable Ledger:

Ski Shop

Date       Account Titles   Debit           Credit

Nov. 5    Sales                  5,238

Welcome Enterprises

Date       Account Titles   Debit           Credit

Nov. 10   Sales                 2,780

Zia Natara

Date       Account Titles   Debit           Credit

Nov. 13   Sales                  1,630

Nov. 21   Sales Returns and Allowances 421

Ski Shop

Date       Account Titles   Debit           Credit

Nov. 30  Sales                  5,796

Explanation:

a) Data and Analysis:

Nov. 5 Accounts Receivable-Ski Shop 5,238

Sales 5,238

Nov. 10 Accounts Receivable-Welcome Enterprises 2,780

Sales 2,780

Nov. 13 Accounts Receivable-Zia Natara 1,630

Sales 1,630

Nov. 21 Sales Returns and Allowances 421

Accounts Receivable-Zia Natara 421

Nov. 30 Accounts Receivable-Ski Shop 5,796

Sales 5,796

Please tell whether inventory is beneficial or not for businesses with a large number of customers? Why?

Answers

Answer:

I don't know how it is possible

I think that Inventory is beneficial por a business with a large range of customers because, if they have no inventory then they have no products to sell to the consumers and that way they will begin to lose the customers.

Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:

Sales $780,000
Net operating income $17,940
Average operating assets $100,000


The following questions are to be considered independently.

Required:
Compute the Springfield club's return on investment (ROI).

Answers

Answer:Springfield club's return on investment (ROI) is 17.94%

Explanation:

Return on investment (ROI) is given as the ratio of the net operating income to average operating assets and  expressed in percentage .

ROI = Net operating income / Average operating assets

Given that

Net operating income =$17,940

Average operating assets = $100,000

ROI = $17,940/ $100,000 = 0.1794, 17.94%

Therefore, the the Springfield club's return on investment (ROI) is 17.94%

Find the payment that should be used for the annuity due whose future value is given. Assume that the compounding period is the same as the payment period. $120,000; monthly payments for 7 years; interest rate 7%. g

Answers

Answer:

$1,104.68  

Explanation:

The payment applicable to the future value of the annuity due can be determined using the future value formula for the annuity due provided below by rearranging the formula such payment is made the subject:

FV=monthly payment*(1+r)^n-1/r*(1+r)

FV=future value=$120,000

monthly payment=unknown(let us assume it is MP)

r=monthly interest rate=7%/12=0.005833333

n=number of monthly payments in 7 years=7*12=84

$120,000=MP*(1+0.005833333)^84-1/0.005833333*(1+0.005833333)

$120,000=MP*(1.005833333)^84-1/0.005833333*(1.005833333)

$120,000=MP*(1.629994009 -1)/0.005833333*1.005833333

$120,000=MP*0.629994009 /0.005833333*1.005833333

$120,000=MP*108.628973152

MP=$120,000/108.628973152

MP=$1,104.68  

The following estimates have been prepared for a project:Fixed costs: $27,000Depreciation: $18,000Sales price per unit: $4Accounting break-even: 50,000 unitsWhat must be the variable cost per unit

Answers

Answer: $3.10

Explanation:

Accounting breakeven = Fixed costs / Contribution margin

Fixed costs = Fixed costs + Depreciation = 27,000 + 18,000 = $45,000

50,000 units = 45,000 / Contribution margin

Contribution * 50,000 = 45,000

Contribution = 45,000 / 50,000

Contribution margin = 0.9

Contribution margin = Sales - Variable cost

0.9 = 4 - Variable cost

Variable cost = 4 - 0.9

= $3.10

How does a parent perform the functions of organizing in management?

Answers

Answer:

I'll assume that the term "parent" here means parent in the conventional term as in father, mother, and children.

With this in mind, parents have the responsibility of organising the family which include their children and the affairs of the house.

Therefore, a parent performs the functions of organizing in management by:

1. Guiding their wards in management principles

2. Educating them in what they should and shouldn't do.

Which 3 statements about the Client request functionality are correct? Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email You can't add attachments to a client request You can request documents from a non-QuickBooks Online client To update the status of a client request, select the request and then the Status drop-down

Answers

Answer: • Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

Explanation:

QuickBooks refers to an online accounting software that's utilized by several businesses and can be used in the request of information from ones clients.

From the options given, the statements about the client request functionality which are correct include:

• Selecting Create client request on the Work screen begins the process.

• Checking the Notify client checkbox means the client will be sent an email.

• To update the status of a client request, select the request and then the Status drop-down.

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