Answer:
b. show a separate capital account for each partner.
Explanation:
A partnership can be defined as a type of business ownership in which two or more individuals come together to start up a business and share the profits made together.
Balance sheet refers to a document that contains financial information about assets, liability, and equity.
A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.
In Financial accounting, the balance sheet of a partnership is typically designed to show a separate capital account for each partner. Thus, if there are four or more people in a partnership form of business, each of them would have a separate capital account in the balance sheet of the partnership.
Kingbird, Inc. sells 450 shares of common stock being held as an investment. The shares were acquired six months ago at a cost of $50 a share. Kingbird sold the shares for $51 a share. The entry to record the sale is:_____.
Answer:
Debit : Cash $22,950
Credit : Common Stock $22,950
Explanation:
When shares were held sorely for investment, on date of sale, we simply record the cash proceeds and no gain on sale of shares is recognized.
Therefore, Cash Proceeds = $51 x 450 shares = $22,950
what is meant by access payment
Answer:
Excess Payment means the portion of the aggregate of any cash plus the fair market value (as determined by the Board of Directors, whose determination shall be conclusive evidence of such fair market value and described in a Board Resolution) of other consideration payable in respect of any tender offer or other negotiated transaction by the Company or a Subsidiary for all or any portion of the Common Stock that is in excess of an amount equal to the product of (x) the number of shares of Common Stock with respect to which the aggregate tender offer or negotiated purchase consideration is payable times (y) the Reference Price.
Explanation:
Goodluck!!
Mark, an HR Manager at Pyramid Inc., is responsible for the HR planning process in his organization. He has reviewed the organization's strategic plans. Which of the following is most likely to be Mark's next step in the planning process?
a. Develop HR staffing plans and actions
b. Compile HR planning forecasts
c. Implement HR staffing plans and actions
d. Assess external and internal workforce
Answer: d. Assess external and internal workforce
Explanation:
There are four steps involved in the HR planning process in an organization. The first step is the one that Mark just completed of reviewing the organization's strategic plans.
The next thing to do is the assess both the internal and external workforce of the organization so as to better understand them. After this step he would have to compile HR planning forecasts and then design HR staffing plans based on the strategic goals of the organization.
Big Ed's Electrical has a pure discount bond that comes due in one year and has a face value of $1,000. The risk-free rate of return is 4 percent. The assets of Big Ed's are expected to be worth either $800 or $1,300 in one year. Currently, these assets are worth $1,140. What is the current value of the debt of Big Ed's Electrical?
a) $222.46
b) $370.77
c) $514.28
d) $769.23
e) $917.54
Answer: $917.54
Explanation:
The current value of the debt of Big Ed's Electrical will be calculated thus:
First, we will calculate the present value which will be:
= $800 / (1 + 4%)
= $800 / ( 1 + 0.04)
= 800 / 1.04
= $769.23
The number of options that are needed
will be:
= (1300 - 800) / ( 300 - 0)
= 500 / 300
= 1.6667
Therefore,
1140 = ( number of option needed × Co) + Present value
1140 = (1.6667 × Co ) + 769.23
Co = (1140 - 769.23 ) / 1.6667
Co = 370.77 / 1.6667
Co = $222.46
Value of debt will now be:
= Current worth of assets - Co
= 1140 - 222.46
= 917.54
Therefore, the answer is $917.54
Suppose that an economy produces 500 units of output. It takes 10 units of labor at $15 a unit and 4 units of capital at $50 a unit to produce this amount of output. The per unit cost of production is:________.A. $1.42B. $1.24C. $0.70D. $0.40
Answer:
Option A is correct.
Explanation:
Below is the calculation:
Total number of units produces = 500 units
Number of labour = 10
Labour cost = $15 per unit
Total capital = 4 units
Cost of capital = $50 per unit
Total cost = 10 x 15 + 4 x 50 = 350
Per unit cost = 500 / 350 = 1.42
Thus option A is correct.
John works for a media advertising company that helps clients place ads in local online newspapers and magazines. He consults with systems analysts and programmers on projects that require the creation of systems to manage client records and trends. What is John's role in his organization?
Answer:
Database Administrator
Explanation:
From the question we are informed about John who works for a media advertising company that helps clients place ads in local online newspapers and magazines. He consults with systems analysts and programmers on projects that require the creation of systems to manage client records and trends. In this case, John's role in his organization is Database Administrator.
Database administrators can be regarded as a professionals that carry out functions that involve database development, security as well as storage and retrieval. They are professional that handle database management systems software, they are responsible for determining ways that can be used to organize and store data. Their role can carry such as capacity planning,performance monitoring as well as installation and configuration also troubleshooting and database design,
Wildhorse, Inc. had net sales in 2020 of $1,502,400. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $221,100 debit, and Allowance for Doubtful Accounts $3,000 credit. If Wildhorse estimates that 8% of its receivables will prove to be uncollectible.
Required:
Prepare the December 31, 2017, journal entry to record bad debt expense.
Answer and Explanation:
The journal entry is shown below:
Bad debt expense Dr $14,668 ($221,100 × 8% - $3,000)
To Allowance for doubtful debts $14,668
(Being bad debt expense is recorded)
Here the bad debt expense is debited as it increased the expense and credited the allowance for doubtful debt as it decreased the assets
Verslas is a firm operating in a monopolistically competitive market. It is currently maximizing profit with an output of 1,200 units and a price of $5. Based on this information, which of the following statements must be true?
a. Verslas could not sell more units by lowering its price.
b. Verslas is earning normal profit.
c. Verslas is earning $3,600 in profit.
d. Verslas has a marginal revenue less than $5.
e. Verslas has a marginal revenue greater than $5.
Answer:
b
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
If Verslas is producing at a profit maximising point, it means that marginal revenue equal marginal revenue and the firm is earning a normal profit
Using cost behavior patterns MFG Company experiences the following cost behavior patterns each week: Fixed costs: supervisor’s salary $1,600; factory rent $3,700 Mixed costs: utilities $2,100 + $6.75 per unit Variable costs per unit: manufacturing labor wages $23.00; supplies used in production $10.00; packaging cost $3.75; warranty cost $4Required:Compute total costs to be incurred for a week with 2,750 units of activity.
Answer:
Total cost= $138,025
Explanation:
Giving the following information:
Fixed costs:
supervisor’s salary $1,600
factory rent $3,700
Mixed costs:
utilities $2,100 + $6.75 per unit
Variable costs per unit:
manufacturing labor wages $23.00
supplies used in production $10.00
packaging cost $3.75
warranty cost $4
Units produced= 2,750
First, we need to calculate the total variable cost:
Total variable cost= 2,750*(6.75 + 23 + 10 + 3.75 + 4)
Total variable cost= $130,625
Now, the total fixed cost:
Total fixed cost= 1,600 + 3,700 + 2,100
Total fixed cost= $7,400
Finally, the total cost:
Total cost= 130,625 + 7,400
Total cost= $138,025
Your credibility is your capability of being believed because you are reliable and worthy of confidence.
yes, agreed and proven.
Westmoreland Company Following are selected data from Westmoreland Company's financial statements.
2018 2017
Current liabilities $230,000 $160,000
Long-term debt 120,000 320,000
Stockholders' equity 420,000 540,000
Cash payments for additions to plant and equipment 45,000 32,000
Net cash flow from operating activities 80,000 51,000
Interest and principal payments 12,000 8,000
Net operating cash flows before interest and taxes 68,000 43,000
Net income 90,000 72,000
Interest expense 8,500 11,500
Income taxes 16,000 14,500
Dividends paid 15,000 30,000
Refer to the Westmoreland Company data.
The company's times interest earned ratio for 2018
a. Indicates the company cannot meet its current year interest payments out of current year earnings.
b. Shows an increase in the company's ability to pay its current debt when it comes due.
c. Decreased, which indicates the company has more cash to pay interest on its debt.
d. Increased, which indicates the company's lenders will be pleased.
Which of the following statements is true regarding valuation amounts on the balance sheet?
1. Assets are recorded at current cost.
2. Stockholders' equity reflects the current market value of the stock.
3. A variety of assumptions are used in determining amounts reported on the balance sheet.
4. Stockholders' equity reflects the amount the stockholders would receive upon liquidation.
Answer:
Westmoreland Company
1. The company's times interest earned ratio for 2018
d. Increased, which indicates the company's lenders will be pleased.
2. The TRUE statement regarding valuation amounts on the balance sheet is:
3. A variety of assumptions are used in determining amounts reported on the balance sheet.
Explanation:
a) Data and Calculations:
Westmoreland Company
Selected financial statements data.
2018 2017
Current liabilities $230,000 $160,000
Long-term debt 120,000 320,000
Stockholders' equity 420,000 540,000
2018 2017
Cash payments for additions
to plant and equipment 45,000 32,000
Net cash flow from operating activities 80,000 51,000
Interest and principal payments 12,000 8,000
Net operating cash flows before
interest and taxes 68,000 43,000
Net income 90,000 72,000
Interest expense 8,500 11,500
Income taxes 16,000 14,500
EBIT $114,500 $98,000
Dividends paid 15,000 30,000
Time interest earned (TIE) for 2018 =EBIT/ Interest Expense
= $114,500/$8,500
13.47x
TIE for 2017 = $98,000/$11,500
= 8.52x
An actual agency that arises by deduction or inferences from other facts and circumstances, including the words and conduct of the parties, best describes __________
Answer:
The correct answer is " Implied agency/ostensible".
Explanation:
An effective power implicitly granted by that of the principle to its agent has demonstrated or derived from some kind of relationship across the accused principle as well as the agency, would be considered as Implied agency.The connection between 2 organizations allows individuals might assume that one of those would be a separate operator, as well as inversely, is a ostensible agency.If you have a derivative position where you might be obligated to sell Japanese yen, you are a: Group of answer choices Call option buyer/holder. Put option writer/seller. Put option buyer/holder. Call option writer/seller.
Answer:
The answer is B
Explanation:
The answer is B. Put option writer/seller. Put option writer has a right but not the obligation to sell an asset at a specified price while put option buyer is the reverse
Option A is wrong. Call option buyer/holder has the right but not the obligation to buy an asset at a specified price while call option writer/seller is the reverse.
Bell Corporation reports that at an activity level of 8,700 units, its total variable cost is $653,109, and its total fixed cost is $658,416.
Required: For the activity level of 8,800 units, assume this level is within the relevant range. Compute: the total variable cost, the total fixed cost, the total cost, the average variable cost per unit, the average fixed cost per unit, and the average total cost per unit.
There is not a word length requirement for this question; however, you must show your work.
Answer:
Bell Corporation
The total variable cost is = $660,616
The total fixed cost is = $658,416
The total cost is = $1,319,032
The average variable cost per unit is = $75.07
The average total cost per unit is = $149.89
Explanation:
a) Data and Calculations:
Current activity level = 8,700 units
Variable cost based on the current activity level = $653,109
Unit variable cost = $75.07 ($653,109/8,700)
Fixed cost = $658,416
At activity level of 8,800 units, since 8,800 units are within the relevant range:
The total variable cost = $660,616 (8,800 * $75.07)
The total fixed cost = $658,416 (same as at 8,700 units)
The total cost = $1,319,032 ($660,616 + $658,416)
The average variable cost per unit = $75.07 ($653,109/8,700)
The average total cost per unit = $149.89 ($1,319,032/8,800)
At the beginning of the period, the Assembly Department budgeted direct labor of $60,500 and property tax of $26,000 for 5,500 hours of production. The department actually completed 6,800 hours of production. Determine the budget for the department, assuming that it uses flexible budgeting. $ fill in the blank 1
Answer:
Total cost= $100,800
Explanation:
Giving the following information:
Property tax= $26,000
Direct labor= $60,500
Number of hours= 5,500
Property tax is a fixed cost. We need to calculate the hourly rate for direct labor:
Hourly rate= 60,500 / 5,500
Hourly rate= $11
Now, the flexible budget:
Fixed cost= 26,00
Variable cost= 11*6,800= 74,800
Total cost= $100,800
Come and Go Bank offers your firm a discount interest loan with an interest rate of 9 percent for up to $21 million, and in addition requires you to maintain a 2 percent compensating balance against the face amount borrowed.
What is the effective annual interest rate on this lending arrangement? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Effective annual rate= %
Answer: 10.11%
Explanation:
The effective annual interest rate on this lending arrangement will be calculated thus:
Interest Paid will be:
= 9% × $21 million
= 0.09 × $21 million
= $1.89 million
Amount Received will then be:
= (21million - 1.89million) - (21million)(0.02)
= $19.11 million - $0.42 million
= $18.69 million
Then, the effective annual rate will be:
= 1.89/18.69
= 10.11%
Therefore, the effective annual interest rate on this lending arrangement is 10.11%.
Explain 2 reasons why businesses create business plan?
You are Howard Schultz, and you've just spent $100,000,000 to buy La Boulange. What would you do to get the maximum return in your investment in this company over the next three years?
Answer:
In order to get maximum returns from this investment, Howard Schultz should do the following-
a) Design the product of La Boulange so that they are included in the menu of starbucks so that people preferring to have La Boulange products can also be included in the customer base of starbucks.
b) La Boulange itself has a brand identity and was quite popular among people, hence instead of dissolving its identity, individual outlets must be run under the brand starbucks to maximize the annual turnover.
Explanation:
In order to get maximum returns from this investment, Howard Schultz should do the following-
a) Design the product of La Boulange so that they are included in the menu of starbucks so that people preferring to have La Boulange products can also be included in the customer base of starbucks.
b) La Boulange itself has a brand identity and was quite popular among people, hence instead of dissolving its identity, individual outlets must be run under the brand starbucks to maximize the annual turnover.
1: Một nhà máy khi đầu tư K (đơn vị: nghìn USD), sản phẩm cận biên theo vốn là
Q’(K) = 100K – 1/3
.
Biết rằng với mức đầu tư 8, sản lượng ở mức 4000 đơn vị. Cần đầu tư bao nhiêu để đạt mức sản lượng
8800 đơn vị?
A. 218; B. 212; C. 214; D. 216;
Select the true statement about the Restatement of the Law of Contracts.
a. It is a valuable resource for judges to consult, but it is not formal law.
b. It is the primary source of law for contract cases involving the sale of goods.
c. It must be renewed by Congress every ten years.
d. It completely overturned the contract law that had developed in the common law courtroom.
Answer:
The TRUE statement about the Restatement of the Law of Contracts is:
a. It is a valuable resource for judges to consult, but it is not formal law.
Explanation:
The Restatement of the Law of Contracts are treatises that clarify the general principles of contract common law, to help judges and lawyers in their judgments. Though it is one of the best-recognized and frequently cited legal treatises in all of American jurisprudence, it remains secondary sources of law. With the cooperation of judges, legal professors, and other legal experts, it is written and published by the American Law Institute (ALI).
Chilly Moose Fruit Producer has a total asset turnover ratio of 3.50x, net annual sales of $40 million, and operating expenses of $18 million (including depreciation and amortization). On its balance sheet and income statement, respectively, it reported total debt of $2.50 million on which it pays a 11% interest rate.
To analyze a company's financial leverage situation, you need to measure the firm's debt management ratios. Based on the preceding information, what are the values for Chilly Moose Fruit's debt management ratios?
Ratio Value
Debt ratio
Times-interest-earned ratio
The US tax structure influences a firm's willingness to finance with debt. The tax structure more debt.
Answer:
Total Assets Turnover = Sales/Total Assets
Total Assets = Sales / Total Assets Turnover
Total Assets = 40 / 3.50
Total Assets = 11.43
Debt Ratio = Debt / Total Assets
Debt Ratio = 2.50/11.43
Debt Ratio = 0.2188
Debt Ratio = 0.22
EBIT = Sales - Operating Expenses
EBIT = 40 - 18
EBIT = $22
Interest = $2.50*11%
Interest = 0.275
EBIT/Interest = $22/0.0.275
EBIT/Interest = $800
The US tax structure influences a firm's willingness to finance with debt. The tax structure encourages more debt.
If a rise in incomes for both low-income and high-income workers is higher for the high- income workers, Group of answer choices then poverty will fall and inequality will rise. then poverty will rise and inequality will rise. then poverty will fall and inequality will fall. then poverty will rise and inequality will rise.
Answer:
Poverty will fall and inequality will rise.
Explanation:
Poverty will fall and inequality will rise is the correct answer because there is a rise in income for both category workers that is low income and higher income. Therefore, many low income workers may cross the poverty line due to an increase in pay so poverty will decrease. But, the income has increased for both the groups so higher income group worker will become richer so inequality will rise.
You are planning to put $3,500 in the bank at the end of each year for the next four years in hopes that you will have enough money for a down payment on a condo. If you are investing at an annual interest rate of 5%, you'll have accumulated ___________ at the end of four years.
You decided to deposit your money in the bank at the beginning of the year instead of the end of the same year, but now you are making payments of $2,500 at an annual interest rate of 6%. How much money will you have available at the end of seven years?
Answer:
Results are below.
Explanation:
Giving the following information:
Annual deposit (A)= $3,500
Number of periods (n)= 4 years
Interest rate (i)= 5%
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {3,500*[(1.05^4) - 1]} / 0.05
FV= $15,085.44
Now, the deposit is at the beginning:
Annual deposit (A)= $2,500
Number of periods (n)= 7 years
Interest rate (i)= 6%
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= {2,500*[(1.06^7) - 1]} / 0.06 + {[2,500*(1.06)^7] - 2,500}
FV= 20,984.59 + 1,259.08
FV= $22,243.67
Indicate how the following transactions affect the accounting equation.
a. The purchase of supplies on account.
b. The purchase of supplies for cash.
c. Payment of cash dividends to stockholders.
d. Revenues received in cash.
e. Sale made on account.
Answer:
Hopefully I understood the question correctly. Below is the affect on
assets-liabilities= owners equity
Explanation:
A. Increases assets, increases liabilty
b. Increases assets, decreases assets (a wash for assets)
c. Decreases owners equity, decreases assets
d. Increases owners equity, increases assets
e. Increases owners equity, increases assets
During 2022, its first year of operations as a delivery service, Indigo Corporation entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $150,000 in cash.
2. Borrowed $40,000 by issuing bonds.
3. Purchased delivery trucks for $55,000 cash.
4. Received $17,000 from customers for services performed.
5. Purchased supplies for $6,700 on account.
6. Paid rent of $4,200.
7. Performed services on account for $11,700.
8. Paid salaries of $26,800.
9. Paid a dividend of $11,200 to shareholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders’ Equity in the far right column.
Assets = Liabilities + Stockholders' Equity
Cash+Accounts Accounts Bonds+Common Retained
Receivable+Supplies+Equipment= Payable Payable Stock Earnings
Revenue-Expense-Dividends
1
2
3
4
5
6
7
8
9
10
Answer:
Indigo Corporation
Assets = Liabilities + Stockholders' Equity
1. Cash $150,000
Common Stock $150,000
2. Cash $40,000
Bonds Payable $40,000
3. Delivery trucks $55,000
Cash ($55,000)
4. Cash $17,000
Accounts Receivable ($17,000)
5. Supplies $6,700
Accounts Payable $6,700
6. Cash ($4,200) ($4,200) Rent expense
7. Accounts Receivable 11,700 $11,700 Service revenue
8. Cash ($26,800) ($26,800) Salaries exp.
9. Cash ($11,200) ($11,200) Dividends
Assets $166,200 = $46,700 + $119,500
Explanation:
a) Data and Analysis (Accounting Equation Effect):
1. Cash $150,000 Common Stock $150,000
2. Cash $40,000 Bonds Payable $40,000
3. Delivery trucks $55,000 Cash $55,000
4. Cash $17,000 Accounts Receivable $17,000
5. Supplies $6,700 Accounts Payable $6,700
6. Cash ($4,200) Rent Expense ($4,200)
7. Accounts Receivable $11,700 Service Revenue $11,700
8. Cash ($26,800) Salaries ($26,800)
9. Cash ($11,200) Dividends ($11,200)
For the year, Logitom planned to sell 1,104,000 units at a $39 selling price. The marketing manager was asked to explain why budgeted revenue had not been achieved for that year. Investigation revealed the following information:
Actual sales volume 1,135,200 units
Actual selling price $38 per unit
Calculate the sales price variance, the sale volume variance, and the total revenue variance.
Answer:
Sales price variance = Actual quantity sold * (Actual price - Budgeted selling price)
Sales price variance = 1,135,200 * ($38 - $39)
Sales price variance = 1,135,200 * $1
Sales price variance = $1,135,200 Unfavorable
Sales volume variance = Budgeted selling price * (Actual quantity - Budgeted quantity)
Sales volume variance = $39 * (1,135,200 - 1,104,000)
Sales volume variance = $39 * 31,200
Sales volume variance = $1,216,800 Favorable
Total revenue variance = (Actual quantity * Actual price) - (Budgeted quantity * Budgeted price)
Total revenue variance = (1,135,200 * $38) - (1,104,000 * $39)
Total revenue variance = $43,137,600 - $43,056,000
Total revenue variance = $81,600 Favorable
***what is business management
Answer:
business is a person's regular occupation, profession, or trade.
Management is the administration of an organization
For each of the following scenarios, determine whether the decision maker is risk neutral, risk averse, or risk loving.
a. A manager prefers a 20 percent chance of receiving $1,400 and an 80 percent chance of receiving $500 to receiving $680 for sure.
b. A shareholder prefers receiving $920 with certainty to an 80 percent chance of receiving $1,100 and a 20 percent chance of receiving $200.
c. A consumer is indifferent between receiving $1,360 for sure and a lottery that pays $2,000 with a 60 percent probability and $400 with a 40 percent probability.
Answer:
RISK LOVING
RISK AVERSE
RISK NEUTRAL
Explanation:
A risk loving person prefers an uncertain outcome to a certain outcome with equal reward. She derives a higher utility from an uncertain outcome
A risk averse person prefers an certain outcome to a uncertain outcome with equal reward. She derives a higher utility from an certain outcome
A risk neutral person is indifferent between a certain outcome and an uncertain outcome with equal reward.
1 0.2(1400) + 0.8(500) = 680
the manger is risk loving because he prefers the uncertain outcome
Waiting period. Upstate University currently has a 6 comma 000 -car parking capacity for faculty, staff, and students. This year, the university issued 4 comma 356 parking passes. The number of parking passes issued has been growing at a rate of 6 % per year. How long will it be before the university will need to add parking spaces?
Answer: 5.5 years
Explanation:
The 6,000 parking capacity is the future value of the number of parking passes and the 4,356 is the present value.
Using the future value formula, you can find the number of periods it would take:
Future value = Present value * (1 + rate) ^ n
(1 + rate)^ n = Future value / Present value
n = In (Future value / Present value) / In ( 1 + r)
= In (6,000 / 4,356) / In ( 1 + 6%)
= 5.495 years
= 5.5 years
A tremendous flood along the Mississippi River destroys thousands of factories, reducing the nation's capital stock by 5%. What happens to current employment and the real wage rate
Answer:
Both employment and the real wage rate would decrease
Explanation:
Given that the capital stock of a nation or country jas a direct impact on such country in terms of savings and investments which directly translates to additional.economic development.
Hence, in this case, when a tremendous flood along the Mississippi River destroys thousands of factories, reducing the nation's capital stock by 5%. What happens to current employment and the real wage rate is that "Both employment and the real wage rate would decrease"
This because there won't be adequate money available to create more employment. And with lease employment opportunities than the available labor, the real wage rate tends to decrease over time.
