Answers
Answer: $900,599.04
Explanation:
The present purchasing power equivalent is the present worth of this investment.
The investment will earn 5% for the first 7 years and then 9% for the next 10.
As there are different rates, the present worth calculation will have to reflect that.
At the end of the first 7 years, the present worth of the invested amount given 10 more years of investing at 9%. The Present worth is;
= 3,000,000(Present worth factor, 9%, 10 years)
= 3,000,000 * 0.4224
= $1,267,200
Then what is the Present worth of $1,267,200 in the current year given that it will be invested for 7 years at 5% to get to $1,267,200.
= 1,267,200 (Present worth factor, 5%, 7 years)
= 1,267,200 * 0.7107
= $900,599.04
Related Questions
A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If 10000 units of product were produced last month and 31250 pounds of direct materials were used, the direct materials quantity variance was
Answers
Answer:
Direct material quantity variance= $6,250 unfavorable
Explanation:
Giving the following information:
Standard:
3 pounds of direct materials at $5 per pound.
10,000 units of product were produced last month and 31,250 pounds of direct materials were used.
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (3*10,000 - 31,250)*5
Direct material quantity variance= $6,250 unfavorable
Analyze the following scenarios to determine who can appropriately access health information.
1. Mrs. John Smith is requesting the emergency room records from last week of her daughter, Katy. Mrs. Smith is the noncustodial parent of Katy, who lives with her dad. Should you release the records to her? Why or why not?
2. Mr. Fred Mitchell is requesting the birth record for Amy, his birth daughter. Mr. and Mrs. Mitchell gave Amy up for adoption four years ago. Should you release the records to him? Why or why not?
3. Mrs. Lynn Olsen is requesting the lab results of her husband, Tim. She has a note. signed by him, giving his permission for her to have the records. Should you release the records to her? Why or Why not?
4. An investigator from the Health and Human Services department is conducting an audit of patient records and has provided a list of records that they want to review. Should you release the information to the investigator? Why or why not?
5. Dr. Rex Harrisson is requesting the medical records of Martha Flynn. He states he is a family friend and has been asked by Mrs. Flynn's son to review her last inpatient admission for appropriateness of care. Should you release the records to Dr. Harrison? Why or why not?
Answers
Answer:
4. because they are government officials
4. You should release the information to the investigator from the Health and Human Services department because they are government officials.
What is Human Services department ?A Department of Human Services (DHS) or Ministry of Human Services (MHS) is a national or subnational umbrella agency in charge of delivering public assistance programmes to the people they serve. Social security, social affairs, human resources, and welfare are some of the various aspects or alternate names.
Human Service with Multiple Purposes Organizations encourage volunteerism and offer a variety of direct services in the communities they serve, across the country, and around the world. Among these organisations are YMCAs, YWCAs, and the Red Cross, among others.
Answer to questions :
1. Mrs. Smith cannot get the records because non-custodials parent have no right to get any medicalrecord. She can only visit.
2. The Original Birth certificate will be Sealed and no longer available once the child is been adopted
3. No, even though her husband has signed a note, the lab results should not be released.
4. You should release the information to the investigator.
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Discount-Mart issues $18 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 16,180,939 06/30/2021 $ 900,000 $ 970,856 $ 70,856 16,251,795 12/31/2021 900,000 975,108 75,108 16,326,903 06/30/2022 900,000 979,614 79,614 16,406,517 12/31/2022 900,000 984,391 84,391 16,490,908 What is the carrying value of the bonds as of December 31, 2022
Answers
Answer:
Discount-Mart
The carrying value of the bonds as of December 31, 2022 is:
$16,490,908
Explanation:
a) Data and Calculations:
Bonds issued = $18 million
Date of issue = Jan. 1, 2021
Bond term = 8 years
Interest payable on June 30 and December 31 each year.
b) Partial bond amortization schedule for the bonds:
Date Cash Paid Interest Expense Increase in Carrying Value
Carrying Value
01/01/2021 $ 16,180,939
06/30/2021 $ 900,000 $ 970,856 $ 70,856 16,251,795
12/31/2021 900,000 975,108 75,108 16,326,903
06/30/2022 900,000 979,614 79,614 16,406,517
12/31/2022 900,000 984,391 84,391 16,490,908
b) The carrying value of the bond is the net amount between the par value of $18 million and the unamortized premium or discount. It is this value that is reported on the balance sheet.
Yan Yan Corp. has a $5,000 par value bond outstanding with a coupon rate of 4.6 percent paid semiannually and 21 years to maturity. The yield to maturity on this bond is 4.1 percent.
What is the price of the bond?
Answers
Answer:
Price of the bond = $4,122.36
Explanation:
The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).
Value of Bond = PV of interest + PV of RV
The value of bond for Yan Yan Corp. be worked out as follows:
Step 1
PV of interest payments
Semi annul interest payment
= 4.6% × 5,000 × 1/2 = 115
Semi-annual yield = 4.1%/2 = 2.05 % per six months
Total period to maturity (in months) = (2 × 21) = 41 periods
PV of interest =
115 × (1- (1+0.0205)^(-21)/0.0205)=1,946.47
Step 2
PV of Redemption Value
= 5000 × (1.0205^(-41) = 2,175.89
Step 3:Price of the bond
Total present Value = 1,946.47 + 2,175.89 = 4,122.36
Price of the bond = $4,122.36
Assume that the current ratio for Arch Company is 2.5, its acid-test ratio is 2.0, and its working capital is $390,000. Answer each of the following questions independently, always referring to the original information. Required: a. How much does the firm have in current liabilities? (Round your final answer to nearest whole dollar.)
Answers
Answer:
Current liabilities = 260,000
Explanation:
Given:
Current ratio = 2.5
Working capital = $390,000
Find:
Current liabilities
Computation:
Working capital = Current assets - Current liabilities
$390,000 = Current assets - Current liabilities
Current assets = Current liabilities + $390,000
Current ratio = Current assets / Current liabilities
2.5 = [Current liabilities + $390,000] / Current liabilities
2.5 Current liabilities = Current liabilities + $390,000
Current liabilities = 260,000
Match each term to the correct defintion.
Terms:
a. Benchmarking
b. Efficiency variance
c. Cost variance
d. Standard cost
Definitions:
1. Measures whether the quantity of materials or labor used to make the actual number of outputs is within the standard allowed for the number of outputs.
2. Uses standards based on best practice.
3. Measures how well the business keeps unit costs of materials and labor inputs within standards.
4. A price, cost, or quantity that is expected under normal conditions.
Answers
Answer:
A = 2
B = 1
C = 3
D = 4
Explanation:
Which of the following is not a good example of a marketing-related key success factor?
A. a well-known and well-respected brand name
B. breadth of product line and product selection
C. proven ability to improve production processes
D. clever advertising
E. courteous, personalized customer service
Answers
Answer: A. a well-known and well-respected brand name
Explanation:
Good examples of a marketing-related key success factor include breadth of product line and product selection, proven ability to improve production processes, clever advertising and courteous, personalized customer service.
Therefore, a well-known and well-respected brand name is not among the options for Marketing related success factors.
Twilight Corporation acquired End-of-the-World Products on January 1, 2020 for $6,200,000, and recorded goodwill of $1,000,000 as a result of that purchase. At December 31, 2021, the End-of-the-World Products Division had a fair value of $5,440,000. The net identifiable assets of the Division (including goodwill) had a carrying value of $5,740,000 at that time. What amount of loss on impairment of goodwill should Twilight record in 2021
Answers
Answer:
Loss on impairment of goodwill that should be recorded is $300,000
Explanation:
Carrying value of net identifiable assets $5,740,000
Less: Fair value $5,440,000
Loss on impairment of goodwill $300,000
Stellar Corporation has a cumulative temporary difference related to depreciation of $542,000 at December 31, 2017. This difference will reverse as follows: 2018, $37,000; 2019, $225,000; and 2020, $280,000. Enacted tax rates are 35% for 2018 and 2019, and 40% for 2020. Compute the amount Stellar should report as a deferred tax liability at December 31, 2017. Deferred tax liability at December 31, 2017
Answers
Answer:
$203,700
Explanation:
2018 2019 2020
Temporary difference $37,000 $225,000 $280,000
Tax rate 35% 35% 40%
Deferred tax liability $12,950 $78,750 $112,000
Deferred tax liability to be reported at December 31, 2017 = $12,950 + $78,750 + $112,000 = $203,700
An increase in taxes when the economy is above full employment ______ aggregate demand and real GDP, and the price level ______.
Answers
Question options :
A. increases; falls
B. decreases; falls
C. does not change; does not change
D. increases; rises
Answer:
B. decreases; falls
Explanation:
let us understand this by looking at the logic behind it. First when the economy is at full employment, there is high demand since there will be increase in money supply through increased circulation from salaries and wages. If government increases taxes, this will reduce purchasing power as money supply will be reduced and therefore demand will be reduced. Also price will fall since according to the Law of demand and supply, if demand is more than supply, price will increase
Conner Manufacturing has two major divisions. Management wants to compare their relative performance. Information related to the two divisions is as follows:
Division 1:
Sales: $200,000
Expenses: $150,000
Asset investment: $950,000
Division 2:
Sales: $45,000
Expenses: $35,000
Asset investment: $200,000
Based on ROI, which division is more profitable?
a. Division 1
b. Both divisions have the same ROI ratio
c. Division 2
Answers
Answer:
The correct answer is:
Division 1 (a.)
Explanation:
Return on investment (ROI) is a financial ratio used to calculate the benefit earned on an investment cost.
Mathematically, it is represented as:
[tex]ROI = \frac{Net\ Income}{original\ cost\ of\ investment} \times 100[/tex]
where:
Net income = Sales - expenses
Original cost of investment = asset invested
Now let us calculate the ROI for each division:
Division 1 :
Net income = Sales - Expenses = 200,000 - 150,000 = $50,000
Asset investment = $950,000
[tex]ROI = \frac{50,000}{950,000} \times 100\ \\\\ROI = 5.26\%[/tex]
Division 2:
Net income = 45,000 - 35,000 = $10,000
Asset investment = $200,000
[tex]ROI = \frac{10,000}{200,000} \times 100\\\\= ROI = 0.05\ \times\ 100\ = 5\%[/tex]
Therefore, based on the ROI for both divisions, Division 1 has a greater ROI (5.26%) than Division 2 (5%) hence, Division 1 is more profitable.
Presented below is selected information for three regional divisions of Medina Company. Divisions North West South Contribution margin $300,300 $499,000 $399,200 Controllable margin $139,700 $360,600 $209,900 Average operating assets $997,857 $1,567,826 $1,499,286 Minimum rate of return 13 % 14 % 9 % Compute the return on investment for each division. (Round ROI to 0 decimal places, e.g. 15.) North Division % West Division % South Division % Compute the residual income for each division. (Round final answers to 0 decimal places, e.g. 1,255.) North Division $ West Division $ South Division $ Assume that each division has an investment opportunity that would provide a rate of return of 16%. (1) If ROI is used to measure performance, which division or divisions will probably make the additional investment? (2) If residual income is used to measure performance, which division or divisions will probably make the additional investment?
Answers
Answer:
North West South
Contribution margin $300,300 $499,000 $399,200
Controllable margin $139,700 $360,600 $209,900
Average operating assets $997,857 $1,567,826 $1,499,286
Minimum rate of return 13% 14% 9%
return on investment (ROI) = controllable margin / average operating assets
North's ROI = $139,700 / $997,857 = 14%
West's ROI = $360,600 / $1,567,826 = 23%
South's ROI = $209,900 / $1,499,286 = 14%
residual income = controllable margin - (average operating assets x minimum rate of return)
North's RI = $139,700 - ($997,857 x 13%) = $9,978.59
West's RI = $360,600 - ($1,567,826 x 14%) = $141,104.36
South's RI = $209,900 - ($1,499,286 x 9%) = $74,964.26
(1) If ROI is used to measure performance, which division or divisions will probably make the additional investment?
North and South divisions should probably make the additional investments since their current ROI is less than 16%
(2) If residual income is used to measure performance, which division or divisions will probably make the additional investment?
All the divisions since their minimum required rate of return is less than 16%.
The ROI of North, West and South are 14%, 23% and 14% respectively. North and south divisions need to make more investment as their ROI is less than 16%. All the division need to make investments.
What is ROI?Return on Investment is the performance measure to evaluate the earnings or profit earned from an investment.It is the ration between the net profit/loss to the initial investment made.
North West South
Given:
Contribution margin= $300,300 $499,000 $399,200
Controllable margin= $139,700 $360,600 $209,900
Average operating assets= $997,857 $1,567,826 $1,499,286
Minimum rate of return= 13% 14% 9%
Return on Investment= (controllable margin/ average operating assets) X 100
North= ($139,700 / $997,857) X 100= 14%West = ($360,600 / $1,567,826) X 100= 23% South= ($209,900 / $1,499,286) X 100 = 14%Residual Income= controllable margin - (average operating assets x minimum rate of return)
North = $139,700 - ($997,857 x 13%) = $9,978.59West = $360,600 - ($1,567,826 x 14%) = $141,104.36South= $209,900 - ($1,499,286 x 9%) = $74,964.26North and South divisions are required to make the additional investments since their current ROI is less than 16%If residual income is used to measure performance, all the divisions requires additional investment, as their minimum required rate of return is less than 16%.
Therefore, the above calulations aptly describes the statements.
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Baldwin has negotiated a new labor contract for the next round that will affect the cost for their product Buzz. Labor costs will go from $2.10 to $2.60 per unit. In addition, their material costs have fallen from $6.82 to $5.82. Assume all period costs as reported on Baldwin's Income Statement remain the same. If Baldwin were to pass on half the new costs of labor and half the savings in materials to customers by adjusting the price of their product, how many units of product Buzz would need to be sold next round to break even on the product
Answers
Answer:
433 units
Explanation:
Information related to production costs are missing, so I looked for it. I found the following:
current sales price = $17
current fixed costs = $7,242
new labor costs per unit = $2.60, which results in a $0.50 increase
new direct materials cost per unit = $5.82, which results in a $1 decrease
total variable costs per unit = $8.42
Baldwin plans to pass 50% of the changes in costs to its customers:
Increase $0.25 due to higher labor costsdecrease $0.50 due to lower materials costsnet change = -$0.25new sales price = $17 - $0.25 = $16.75
contribution margin per unit = $16.75 - $8.42 = $8.33
break even point in units = total fixed costs / contribution margin per unit = $7,242 / $16.75 = 432.36 = 433 units
It will cost $3,000 to acquire a small ice cream cart. Cart sales are expected to be $1,400 a year for three years. After the three years, the cart is expected to be worthless as that is the expected remaining life of the cooling system. What is the payback period of the ice cream cart?
Answers
Answer:
2.14 years
Explanation:
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows
Payback period = Amount invested / cash flows = $3,000 / $1,400 = 2.14 years
You purchased 500 shares of Barden Enterprises stock for $55.43 per share at the beginning of the year. The stock is currently priced at $57.48 per share. What is your dividend yield if you received total dividends of $835 over the year?
Answers
Answer:
Dividend yield is 2.91 %.
Explanation:
Dividend yield = Annual Dividend per Share / Stock Price per Share × 100
where,
Annual Dividend per Share = Total Dividends ÷ Total Number of Shares
= $835 ÷ 500
= $1.67
then,
Dividend yield = $1.67 / $57.48 × 100
= 2.905 or 2.91 %
A company's gross profit (or gross margin) was $129,650 and its net sales were $502,900. Its gross margin ratio is
Answers
Answer:
25.8%
Explanation:
A company gross profit is $129,650
The net sales is $502,900
Therefore, the gross margin ratio can be calculated as follows
Gross margin ratio= gross margin /net sales
= $129,650/$502,900
= 0.258×100
= 25.8%
Hence the gross margin ratio is 25.8%
Company expects to sell units of finished product in and units in . The company has units on hand on 1 and desires to have an ending inventory equal to % of the next month's sales. sales are expected to be units. Prepare 's production budget for and .
Answers
Complete Question:
Yasmin Company expects to sell 1,900 units of finished product in January and 2,250 units in February. The company has 270 units on hand on 1st January and desires to have an ending inventory equal to 20% of the next month's sales. March sales are expected to be 2,350 units. Prepare Yasmin's production budget for January and February.
Answer:
680 Units for January and 250 units for February.
Explanation:
Production Budget can be calculated using the following formula:
Production Budget = Expected Sales + Desired Ending Inventory Units - Opening Inventory
The formula is reflected in a tabular form below:
Production Budget For Yasmin Incorporation
January February
Expected Future Sales (Unit) 900 250
Add: Desired Ending Inventory Units 50 70
Less: Openning Inventory Units 270 70
Production Units 680 250
Cole Co. began constructing a building for its own use in January 20X3. During 20X3, Cole incurred interest of $50,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during 20X3 was $40,000. What amount of interest cost should Cole capitalize
Answers
Answer: $40,000
Explanation:
When capitalizing Interest for a PPE, accounting procedure is that one looks at the actual interests incurred vs the interest computed on the weighted-average amount of accumulated expenditures for the PPE and then pick the lower of the two for capitalization.
The actual interest incurred is;
= 50,000 + 20,000
= $70,000
The Interest computed on the weighted-average amount of accumulated expenditures for the building during 20X3 = $40,000. This is the lower one and so will be the amount capitalized.
Luther Corporation Consolidated Balance Sheet December 31, 2006 and 2005 (in $ millions) .
2006 2005
Assets
Liabilities and Stockholders' Equity
2006 2005
Current Assets
Current Liabilities
Cash 56.1 58.5
Accounts payable 88.1 73.5
Accounts receivable 54.5 39.6
Notes payable / short-
term debt 10.9 9.6
Inventories 44.8 42.9
Current maturities of long-
term debt 40.7 36.9
Other current assets 5.0 3.0
Other current liabilities 6.0 12.0
Total current assets 160.4 144.0
Total current liabilities 145.7 132.0
Long-Term Assets
Long-Term Liabilities
Land 66.8 62.1
Long-term debt 227 168.9
Buildings 108.5 91.5
Capital lease obligations
Equipment 117.1 99.6
Less accumulated
depreciation (54.4) (52.5)
Deferred taxes 22.8 22.2
Net property, plant, and
equipment 238 200.7
Other long-term liabilities --- ---
Goodwill 60.0 --
Total long-term liabilities 249.8 191.1
Other long-term assets 63.0 42.0
Total liabilities 395.5 323.1
Total long-term assets 361 242.7
Stockholders' Equity 125.9 63.6
Total Assets 521.4 386.7
Total liabilities and
Stockholders' Equity 521.4 386.7
Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then what is Luther's enterprise value?
A. -$540.0 million.
B. $771.4 million.
C. $385.7 million.
D. $521.4 million.
Answers
Answer:
C. $385.7m
Explanation:
Enterprise value = Market value of equity + Market value of all types of debt - Cash in the balance sheet
Market value of equity = Current share price × number of shares outstanding
= $16 × 10.2 million shares
= $163,200,000
Market value of all types of shares = Market value of long term debt + Market value of current portion of long term debt + notes payable / short term debt
We assume that market value of debts = Book value of debts
Therefore,
Market value of debt = $227m + $40.7m + $10.9m
= $278.6 m
Cash in the balance sheet = $56.10 m
Therefore;
Enterprise value = $163.20m + $278.60 - $56.1
=$385.7 m
Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $3,425 in employment-related miscellaneous itemized deductions. They also incur $5,375 of investment interest expense during the year. The Porters' income for the year consists of $178,500 in salary and $4,495 of interest income.
What is the amount of Porters' investment interest expense deduction for the year?
Answers
Answer:
$4,995
Explanation:
Calculation of the amount of the Porters' investment interest expense deduction for the year
Based on the information given we were told that Porters' income consists of the amount of
$4,495 of interest income which means that $4,995 will be the investment interest expense deduction for the year. While the amount of $380 ($5,375-$4,995) will be the amount that will be carried forward to the following year.
Therefore Porters' investment interest expense deduction for the year will be $4,995
For Gundy Company, units to be produced are 5,230 in quarter 1 and 6,100 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.
Required:
Prepare a direct labor budget by quarters for the 6 months ending June 30, 2017.
Answers
Answer:
Direct labor budget by quarters for the 6 months ending June 30, 2017
Quarter 1 Quarter 2
Expected Production (units) 5,230 6,100
Hours required per unit 2.0 2.0
Total Expected Hours 10,460 12,200
Cost per Hour $15 $15
Total Cost $156,900 $183,000
Explanation:
Total Expected Cost = Total Expected Hours × Total Cost per Hour
Product V72 sells for $20 per unit as is, but if enhanced it can be sold for $25 per unit. The enhancement process will cost $52,000 for 12,000 units. If the 12,000 units of Product V72 are sold as is without further processing, the company:
Answers
Answer:
It will incur an Opportunity cost of $8,000.
Explanation:
It will incur the opportunity cost of $8000 because the additional unit produces by the company then the additional revenue that is generated will be equal to the amount (25 - 20) x 12,000 = 60,000. Since the additional cost, that incurs for the production of 12000 units is 52000. Therefore the profit earned is $8000.
So if the company does not produce it then it will lose the profit of $8000.
Upon starting her new position, Brenda is given a _______ that details the tasks, duties, and responsibilities considered a part of her position.
Answers
Answer:
The answer is job description (JD).
Explanation:
The job description is the summary of tasks, duties, and responsibilities for a particular position. The job description also includes the requirements for the position holder. In some cases, it may details the reporting line, compensation and benefits regarding to the job.
The Silverside Company is considering investing in two alternative projects: Project 1 Project 2 Investment $400,000 $280,000 Useful life (years) 5 5 Estimated annual net cash inflows for useful life $90,000 $65,000 Residual value $25,000 $12,000 Depreciation method Straight−line Straight−line Required rate of return 10% 6% What is the payback period for Project 1?
Answers
Answer:
The Silverside Company
Project 1's Payback Period
= Initial Investment/Annual cash flows
= $400,000 / $90,000
= 4.44 years.
Explanation:
Project 1:
Initial Investment = $400,000
Useful life = 5 years
Annual cash inflows for useful life = $90,000
The Silverside Company's payback period calculates the time or number of years that it would take the company to recover from its initial investment in Project 1. This is the simple payback period calculation. There is also the discounted payback period calculation. This method discounts the annual cash inflows to their present values before the calculation is carried out. This second method gives a present value perspective on the issue.
Following are several figures reported for Allister and Barone as of December 31, 2018:
Allister Barone
Inventory $530,000 $330,000
Sales 1,060,000 860,000
Investment income not given
Cost of goods sold 530,000 430,000
Operating expenses 245,000 315,000
Allister acquired 70 percent of Barone in January 2017. In allocating the newly acquired subsidiary's fair value at the acquisition date, Allister noted that Barone had developed a customer list worth $70,000 that was unrecorded on its accounting records and had a 4-year remaining life. Any remaining excess fair value over Barone's book value was attributed to goodwill. During 2018, Barone sells inventory costing $126,000 to Allister for $172,000. Of this amount, 20 percent remains unsold in Allister's warehouse at year-end. Determine balances for the following items that would appear on Allister's consolidated financial statements for 2018:
Amounts
Inventory
Sales
Cost of goods sold
Operating expenses
Net income attributable to noncontrolling interest
Answers
Answer and Explanation:
The computation of inventory, sales, cost of goods sold, Operating expenses and Net income attributable to non-controlling interest is shown below:-
But before that we need to determine the following calculations
Unrealized profit on inventory = ($172,000 - $126,000) × 10%
= $4,600
Customer list amortization = $70,000 ÷ 4
= $17,500
Inventory = $530,000 + $330,000 - $4,600
= $855,400
Sales = $1,060,000 + $860,000 - $172,000
= $1,748,000
Cost of goods sold = $530,000 + $430,000 + $4,600 - $172,000
= $792,600
Operating expenses = $245,000 + $315,000 + $17,500
= $577,500
Net income attributable to non-controlling interest = 10% × ($860,000 - $430,000 - $315,000 - $4,600 - $17,500)
= 10% × $92,900
= $9,290
The business case for why companies should act in a socially responsible manner includes: Select one: a. It generates internal benefits including employee recruiting, workforce retention, training, and improved worker productivity b. It reduces the risk of reputation-damaging incidents c. It is in the best interest of shareholders and offers potential for increased buyer patronage d. All of the above
Answers
Answer:
d. All of the above
Explanation:
All alternatives are correct due to the fact that when a company acts in a socially responsible manner, it achieves several internal and strategic benefits that help in the success of the business.
Currently, organizations are no longer just profitable entities but are also promoters of positive social transformations for the locality in which they operate and for the world.
Being socially responsible includes having benefit programs for stakeholders, which includes improving the perception with which the company is seen, generating a position that attracts shareholders, retains employees, generates greater job satisfaction, which increases productivity and retention of staff.
Generally, corporate governance programs include the review and culture of continuous improvement of organizational processes, which reduces costs, risks and waste, which contributes to the generation of competitive and profitable advantages for the organization.
On December 31, 2016, when its Allowance for Doubtful Accounts had a debit balance of $1,432, Sunland Company estimates that 9% of its accounts receivable balance of $105,900 will become uncollectible and records the necessary adjustment to Allowance for Doubtful Accounts. On May 11, 2017, Sunland Company determined that B. Jared’s account was uncollectible and wrote off $1,091. On June 12, 2017, Jared paid the amount previously written off.Required:Prepare the journal entries on December 31, 2016, May 11, 2017, and June 12, 2017.
Answers
Answer: Please see explanation column for answers
Explanation:
1) To record bad debts expense
Date Account Debit Credit
Dec 31, 2016 Bad Debt Expense $10,963
Allowance for doubtful account $10,963
Calculation ;
Bad debts expense
9% x $105,900 = $9,531
Adjustment= $9,531 + debit balance of $1,432=$10,963
2) To write off uncollectible accounts receivables
Date Account Debit Credit
May 11, 2017 Allowance for doubtful account $1,091.
Accounts receivable--- B. Jared $1,091.
3) To reinstate accounts accounts previously written off
Date Account Debit Credit
June 12, 2017 Accounts receivable--- B. Jared $1,091.
Allowance for doubtful account $1,091.
3b)to collect cash from receivables
Date Account Debit Credit
June 12, 2017 Cash $1,091.
Accounts receivable--- B. Jared $1,091.
If Colombia spends 2 hours producing coffee and 6 hours producing oranges, and Cuba spends 3 hours producing coffee and 1 hour producing oranges, which of the following are true?
Select the correct answer below:_________.
A. Colombia has an absolute advantage producing oranges, and Cuba has an absolute advantage producing coffee.
B. Colombia does not have an absolute advantage producing any goods, but Cuba has an absolute advantage producing oranges.
C. Colombia has an absolute advantage producing coffee, and Cuba has an absolute advantage producing oranges.
D. Colombia has an absolute advantage producing coffee, but Cuba does not have an absolute advantage producing any good.
Answers
Answer: C. Colombia has an absolute advantage producing coffee, and Cuba has an absolute advantage producing oranges
Explanation:
From the question, we are informed that Colombia spends 2 hours producing coffee and 6 hours producing oranges, and Cuba spends 3 hours producing coffee and 1 hour producing oranges.
Since Columbia spends a lesser time producing coffee and Cuba spends a lesser time producing oranges, it means that Colombia has an absolute advantage producing coffee, and Cuba has an absolute advantage producing oranges.
Coronado Industries is planning to sell 900 boxes of ceramic tile, with production estimated at 470 boxes during May. Each box of tile requires 44 pounds of clay mix and a 0.25 hour of direct labor. Clay mix costs $0.40 per pound and employees of the company are paid $22 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Coronado has 4700 pounds of clay mix in beginning inventory and wants to have 3900 pounds in ending inventory. What is the total amount to be budgeted in pounds for direct materials to be purchased for the month
Answers
Answer:
Total pounds= 19,880
Explanation:
Giving the following information:
Production= 470 boxes
Each box of tile requires 44 pounds of clay mix
Beginning inventory= 4,700 pounds
Desired ending inventory= 3,900 pounds
To calculate the direct material purchase, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
Direct material budget (in pounds):
Production= 470*44= 20,680
Desired ending inventory= 3,900
Beginning inventory= (4,700)
Total pounds= 19,880
Suppose annual inflation rates in the U.S. and Mexico are expected to be 6% and 80%, respectively, over the next several years. If the current spot rate for the Mexican peso is $.005, then the best estimate of the peso's spot value in 3 years is Group of answer choices $.00276 $.01190 $.00321 $.00102
Answers
Answer:
$.00102
Explanation:
The forward peso's spot value in 3 years can be computed using the below formula:
forward exchange rate=current spot rate*(1+US inflation)^3/(1+Mexican inflation)^3
current spot rate=$.005,
US inflation rate is 6%
Mexican inflation rate is 80%
forward exchange rate=$.005,*(1+6%)^3/(1+80%)^3
forward exchange rate(in 3 years)=$0.00102
