Answer:
3.15 times
Explanation:
Asset turnover = Sales revenue / Average total assets
Asset turnover = $1,135,420 / $360,600
Asset turnover = 3.15 times
Cucina Corp. signed a new installment note on January 1, 2018, and deposited the proceeds of $50,000 in its bank account. The note has a three-year term, compounds 5 percent interest annually, and requires an annual installment payment on December 31. Cucina Corp. has a December 31 year-end and adjusts its accounts only at year-end. Required:
Question Completion:
Required:
1.Use an online application, such as the loan calculator with annual payments at mycalculators.com, to generate an amortization schedule. Enter that information into an amortization schedule with the following headings: Year, Beginning Notes Payable, Interest Expense, Repaid Principal on Notes Payable, and Ending Notes Payable.
2.Prepare the journal entries on (a) January 1, 2018, and December 31 of (b) 2018, (c) 2019, and (d) 2020.
3.If Cucina Corp.’s year-end were March 31, rather than December 31, prepare the adjusting journal entry it would make for this note on March 31, 2018?
Answer:
Cucina Corp.
1. Annual Amortization Schedule
Year Beginning Interest Expense Repaid Principal Ending Notes
Notes Payable on Notes Payable Payable
1 $50,000.00 $2,140.23 $15,842.25 $34,157.68
2 $34,157.68 $1,329.68 $16,652.80 $17,504.84
3 $17,504.84 $477.71 $17,504.77 $0.00
2. (a) January 1, 2018
Debit Cash $50,000
Credit Installment Note Payable $50,000
To record the issuance of the installment note.
December 31 of
(b) 2018
Debit Interest Expense $2,140.23
Debit Installment Note Payable $15,842.25
Credit Cash $17,982.48
To record the first installment repayment, including interest.
(c) 2019
Debit Interest Expense $1,329.68
Debit Installment Note Payable $16,652.80
Credit Cash $17,982.48
To record the second installment repayment, including interest.
(d) 2020
Debit Interest Expense $477.71
Debit Installment Note Payable $17,504.77
Credit Cash $17,982.48
To record the third and final installment repayment, including interest.
3. (b) 2018
Debit Interest Expense $625
Credit Interest Payable $625
To accrue interest expense for the year ($50,000 * 5% * 3/12)
Explanation:
a) Data and Calculations:
Installment note payable obtained on January 1, 2018 = $50,000
Period of note payable = 3 years
Interest rate = 5% compounded annually
Annual interest payment = December 31
The Rolling Department of Oak Ridge Steel Company had 3,600 tons in beginning work in process inventory (50% complete). During July, 59,500 tons were completed. The ending work in process inventory on July 31 was 3,000 tons (40% complete).
What are the total equivalent units for direct materials for July if materials are added at the beginning of the process?
Let illustrate what you you know about materiality concept.
Answer:
rfb rgab rko
its a study meeting of girls i am also girl here we only study boy were not allowed because he disturb here we only study its safe meeting of girl here we only study
Suppose you decide to deposit $18,000 in a savings account that pays a nominal rate of 6%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after nine months
Answer:
FV= $18,827.23
Explanation:
Giving the following information:
Initial investment (PV)= $18,000
Interest rate (i)= 0.06/365= 0.000164
Number of periods (n)= (365/12)*9= 274 days
To calculate the future value (FV), we need to use the following formula:
FV= PV*(1 + i)^n
FV= 18,000*(1.000164^274)
FV= $18,827.23
Forrester Company is considering buying new equipment that would increase monthly fixed costs from $396,000 to $684,000 and would decrease the current variable costs of $80 by $20 per unit. The selling price of $120 is not expected to change. Forrester's current break-even sales are $1,188,000 and current break-even units are 9,900. If Forrester purchases this new equipment, the revised contribution margin ratio would be:
Answer:
50%
Explanation:
Contribution margin is used to determine the profitability of a product. it is price less variable cost
Contribution margin ratio = (price - variable costs) / price
variable cost = 80 - 20 = 60
price = 120
(120 - 60) / 120 = 50%
Old Tired Professor Mullen, Inc. has $20,000 of ending (EI) finished goods inventory. If beginning (BI) finished goods inventory was $10,000 and Cost of Goods Sold (CGS) (OUT) was $40,000, how much would the Old Tired Professor report for Cost of Goods Manufactured (CGM) (IN)
Difference between beginning and ending CoG: 20,000-10,000 = 10,000
Difference + sold:
10,000 + 40,000 = 50,000
Answer: $50,000
A machine costs $5240 and produces benefits of $1000 at the end of each year for eight years. Assume an annual interest rate of 10%. Use engineering economics principals a.) What is the payback period in years
Answer:
5.24 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 flow
5240 / 1000 = 5.24 YEARS
On January 1, Jorge Inc. issued $3,000,000, 8% bonds for $2,817,000. The market rate of interest for these bonds is 9%. Interest is payable annually on December 31. Jorge uses the effective-interest method of amortizing bond discount. At the end of the first year, Jorge should report unamortized bond discount of:
Answer: $169470
Explanation: Firstly, we'll calculate the discount on bond which will be:
= Issue Price - Par Value
= $3,000,000 - $2,817,000
= $183,000
Then, the interest payable will be:
= Coupon Rate × Bond ParValue
= $3,000,000 × 8%
= $3,000,000 × 0.08
= $240,000
We will calculate the interest expense as:
= Issue Value × Market Rate
= $2,817,000 × 9%
= $253,530
Then, the amortized amount for Year 1 will be:
= Interest Expense - Interest Payable
= $253,530 - $240,000
= $13,530
Therefore, the unamoritzed amount of bond discount will be:
= $183,000 - $13,530
= $169,470
A company's managers should almost always give serious consideration to making significant adjustments in its camera/drone strategies and competitive approaches when:
a. all or most of its competitors are using mostly different competitive approaches and therefore the marketplace is not big enough to accommodate all of the competitors.
b. all or most of its competitors are using mostly copycat competitive approaches that make it difficult for any of these companies to capture sales volumes and revenues big enough to earn profits large enough to meet investor-expected EPS, ROE, and stock price appreciation targets.
c. the number of camera and drone workstations the company has installed is NOT well above the industry-averages (as reported on pages 6 and 7 of the most recent Camera & Drone Journal).
d. the company's market share for action cameras has not been the largest for two straight years and when its EPS and ROE have also not been the highest in the industry for two straight years.
e. the company's operating profits per action camera sold are not substantially above the industry-average benchmarks in at least three geographic regions (as reported on p. 6 of the most recent Camera & Drone Journal),
Answer:
Hence the correct option is option b - All are most of its competitors are using mostly copycat competitive approaches that make it difficult for any of these companies to capture sales volumes and revenues big enough to earn profits large enough to meet investor expected EPS, ROE, and stock price appreciation targets.
Explanation:
A company's management should nearly always give serious consideration to creating significant adjustments in its camera or drawn strategies and competitive approaches when all or most of its competitors are using mostly copycat competitive approaches that make it difficult for any of those companies to capture sales volumes and revenues large enough to earn profits large enough to satisfy investor expected EPS ROE and stock price appreciation targets.
The correct option for the given question is "all or most of its competitors are using mostly copycat competitive approaches that make it difficult for any of these companies to capture sales volumes and revenues big enough to earn profits large enough to meet investor-expected EPS, ROE, and stock price appreciation targets."
What is camera/drone strategies?The camera/drone strategy involves the strategic approach of a company in which the company overlooks its competitors, their market, and strategies and modify its strategies accordingly.
If the competitors are using copycat competitive approaches and hence are making it difficult for the company to achieve sales volume and revenue and the expectations of the companies' investors regarding the EPS, ROE and stock price appreciation are difficult to meet, the company should consider its camera/drone strategies and competitive approaches.
Therefore the correct option is b.
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Which of these are good ways to find a buyer’s agent?
Answer:
1.Search online.
2.Interview agents.
Preparing a Budgeted Income Statement Oliver Company provided the following information for the coming year: Units produced and sold 160,000 Cost of goods sold per unit $6.30 Selling price $11 Variable selling and administrative expenses per unit $1.10 Fixed selling and administrative expenses $423,000 Tax rate 33 % Required: Prepare a budgeted income statement for Oliver Company for the coming year. Round all income statement amounts to the nearest dollar.
Answer and Explanation:
The preparation of the income statement is presented below:
Sales $1,760,000 (160,000 × $11)
Less: cost of goods sold ($1,008,000) (160,000 × $6.30)
Gross margin $752,000
Less: Variable selling and administrative expenses ($176,000) (160,000 × $1.10)
Less: Fixed selling and administrative expenses ($423,000)
Operating income $153,000
Less: INcome taxes ($50,490)
Net income $102,510
The papilla supplies nourishment to the
Answer:
Papilla: Cells filled with capillaries that supply nourishment to the cells around it.
Sybil, age 40, is single and supports her dependent parents who live with her, as well as her grandfather who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. What is the taxable income?
Answer:
$61,650
Explanation:
Calculation to determine the taxable income
Adjusted Gross Income (AGI) $80,000
Deduct Standard deduction (head of household) ($18,350)
Taxable Income $61,650
($80,000-$18,350)
Therefore the vthe taxable income is $61,650
Roddie is 30 years old. He was demoted from his job as a manager at Big Trucks, a company with 10,000 employees. He was replaced by Bambi, a 45-year-old. Roddie was told that he was a little too young for management. Under the Age Discrimination in Employment Act (ADEA), what are Roddie's options
The option available for Roddie would be "Roddie has no options under ADEA."
To understand this, we need to go through the terms of 'Age Discrimination Policy in Employment Act;'
This Act covers the cases of employees or workers aging either 40 or above who have suffered age-based discrimination.The people aging under 40 are not covered under this act and hence, the benefits can not be reaped by them in any situation. This law doesn't allow the process of giving preference to an older employee over the younger to be considered illegal.Hence, Roddie has no available options under ADEA as he is below 40(in fact only 30 years old) and he cannot claim under ADEA for justice.
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Atlantis Fisheries issues zero coupon bonds on the market at a price of $498 per bond. These are callable in 8 years at a call price of $600. Using semiannual compounding, what is the yield to call for these bonds
Answer: 2.34%
Explanation:
Yield to call is the rate that would make the issue price equal to the call price in future. It is therefore the rate that would compound the $498 to $600 in 8 years.
Semiannual compounding means that the interest rate and the number of periods need to be adjusted:
Number of periods = 8 * 2 = 16 semi annual periods
Interest = x / 2 = 0.5x
Call price = Issue price * ( 1 + rate) ^ number of periods
600 = 498 * (1 + 0.5x)¹⁶
(1 + 0.5x)¹⁶ = 600 / 498
0.5x = ¹⁶√ (600/498) - 1
x = 0.011713672618214 / 0.5
x = 2.34%
As the operations manager, you prefer to keep a constant workforce and production level, absorbing variations in demand through inventory excesses and shortages. Demand not met is carried over to the following month. Assuming you currently have 23 workers, what is the shortage cost for May
Answer:
Shortage cost for May is $71,000
Explanation:
The expected demand for the month of May is 5000 units.
Shortages for month are carried to next month.
Shortage cost is $10 per month.
(Working days per month x hrs/day x # of workers)
20 days * 8 hours * 23 workers = 3680
Jan : 3680 - 3500 = +180
Feb : 3680 + 180 - 4500 = -640
Mar : 3680 - 640 -6000 = -2980
Apr : 3680 - 2980 -6500 = 5780
May : 3680 - 5780 -5000 = 7100
To ensure that a borrower is not using short-term bank credit to finance a part of its permanent needs for funds, banks often require borrowers to clean up their short-term loans for a 30-45 day period during the year.
a. True
b. False
The furniture store offers you no-money-down on a new set of living room furniture. Further, you may pay for the furniture in three equal annual end-of-the-year payments of $1,000 each with the first payment to be made one year from today. If the discount rate is 6%, what is the present value of the furniture payments
Answer: $2,673
Explanation:
The amounts to be paid are constant so this is an annuity. The present value will therefore be the present value of an annuity.
Present value of annuity = Annuity * Present value interest factor of annuity, 3 periods, 6%
= 1,000 * 2.6730
= $2,673
a face value of $450 million. The bonds pay interest each March 31 and September 30, beginning March 31, 2022. The effective interest rate established by the market was 8%. Assuming that Auerbach issued the bonds for $388,844,955, what interest expense would it recognize in its 2021 income statement
Answer:
$7,776,899
Explanation:
Calculation to determine what interest expense would it recognize in its 2021 income statement
Interest expense= $388,844,955 * 8% * (3 months/12 months)
Interest expense= $31,107,596.4 * 3/12
Interest expense= $7,776,899
Therefore the interest expense that would be recognize in its 2021 income statement is $7,776,899
Opportunity cost is the amount of increase or decrease in cost that would result from the best available alternative to the proposed use of cash or its equivalent.
a) true
b) false
The given statement is "False". A further explanation is provided below.
Whenever a decision had been made above another, the profit losses are determined as an Opportunity cost. This same notion is merely beneficial as a refresher or recalls to consider all acceptable possibilities well before a person decides.Opportunity costs aren't just an equity account method and hence are not included throughout a company's financial statements. This is simply a notion of the financial assessment.
Thus the above is the right answer.
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BWCT is a mining company that operates the world's exclusive mining site to harvest a new metal. Assuming it is a monopoly, which of the following statements is least likely concerning entry and exit in this market currently?
a. There is predatory price cutting being done by BWCT to keep new companies out of mining.
b. There is tight control over a key resource by BWCT.
c. There is an economy of scale at work making it cheap to produce more products.
d. There are government regulations enabling firms to enter the market easily.
Answer:
D; There are government regulations enabling firms to enter the market easily
Explanation:
Assuming BWCT as a monopoly, statements is least likely concerning entry and exit in this market currently there are government regulations enabling firms to enter the market easily. Thus the correct answer is D.
What is a monopoly?Monopoly refers to a single rule of the seller in the market. This is a type of busines structure where there are single busines that control the ownership of the market and restrict entries to give competition.
This monopoly structure of business led to high barriers to entry as the complete market is controlled by a single business entity which restricts others to enter. As there is no competition in the market the firms involved in monopoly gain more profit maximization.
The discrimination of price is also controlled as there is a single seller who sold the products and there are many buyers. So the seller can change the price of the product at any time.
Therefore, option D There are government regulations enabling firms to enter the market easily is the appropriate answer.
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On January 1, 2021, G Corp. granted stock options to key employees for the purchase of 87,000 shares of the company's common stock at $26 per share. The options are intended to compensate employees for the next two years. The options are exercisable within a four-year period beginning January 1, 2023, by the grantees still in the employ of the company. No options were terminated during 2021, but the company does have an experience of 6% forfeitures over the life of the stock options. The market price of the common stock was $32 per share at the date of the grant. G Corp. used the Binomial pricing model and estimated the fair value of each of the options at $8. What amount should G charge to compensation expense for the year ended December 31, 2021
Answer:
the compensation expense for the year is $327,120
Explanation:
The computation of the compensation expense for the year is given below:
= (Number of stock options to be purchased × (1 - forefeiture percentage) × fair value per option)) ÷ 2
= (87,000 shares × (1 - 0.06) × $8)) ÷ 2
= $327,120
Hence, the compensation expense for the year is $327,120
The same should be considered and relevant too
what are the first steps to start business
Answer:
finding a market for your product then finding a marketing strategy then get your assets set up
Explanation:
Copy equipment was acquired at the beginning of the year at a cost of $50,320 that has an estimated residual value of $4,600 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 1,143,000 copies. This year, 288,000 copies were made. a. Determine the depreciable cost. $fill in the blank 1 b. Determine the depreciation rate. Round your answer to two decimal places. $fill in the blank 2 per copy c. Determine the units-of-output depreciation for the year
Answer:
Annual depreciation= $11,520
Explanation:
Giving the following information:
Purchase price= $50,320
Salvage value= $4,600
Estimated copies= 1,143,000
First, we need to calculate the depreciable value:
Depreciable value= purchase price - salvage value
Depreciable value= 50,320 - 4,600
Depreciable value= $45,720
Now, the depreciable rate:
Depreciable rate= depreciable value / /useful life of production in copies
Depreciable rate= 45,720/1,143,000
Depreciable rate= $0.04 per copie
Finally, the annual depreciation:
Number of copies= 288,000
Annual depreciation= 0.04*288,000
Annual depreciation= $11,520
Classification of cash flows [LO21-3, 21-4, 21-5, 21-6]
Listed below are several transactions that typically produce either an increase or a decrease in cash. Indicate by letter whether the cash effect of each transaction is reported on a statement of cash flows as an operating (O), investing (I), or financing (F) activity.
Transactions
1. Sale of Common Stock.
2. Sale of Land
3. Purchase of Treasury Stock
4. Merchandise Sales
5. Issuance of a long-term note payable
6. Purchase of merchandise
7. Repayment of note payable
8. Employee salaries
9. Sale of equipment at a gain.
10. Issuance of bonds
11. Acquisition of bonds of a another corporation
12. Payment of semiannual interest on bonds payable
13. Payment of a cash dividend
14. Purchase of a building
15. Collection of a nontrade note receivable (principal amount)
16. Loan to another firm.
17. Retirement of common stock.
18. Income taxes.
19. Issuance of short-term note payable
20. Sale of copyright
Answer and Explanation:
The classification is as follows:
1. This is the Financing activitiy
2. This is the investing activity
3. This is the Financing activity
4 This is an operating activity
5 This is the Financing activity
6 This is an operating activity
7 This is the Financing activity
8 This is an operating activity
9 This is an operating activity
10 This is the Financing activitiy
11 This is the investing activity
12 This is an operating activity
13 This is the Financing activitiy
14 This is the investing activity
15 This is the investing activity
16 This is the investing activity
17 This is the Financing activitiy
18 This is an operating activity
19 This is the Financing activitiy
20 This is the investing activity
O'Reilly Corporation uses direct labor-hours to calculate its annual plantwide predetermined overhead. For the current period's estimated level of production, O'Reilly Corporation estimated that 39,000 direct labor-hours would be required. Estimated fixed manufacturing overhead cost is $599,000 for the current period and variable manufacturing overhead cost of $3.00 per direct labor-hour. O'Reilly Corporation's actual manufacturing overhead cost for the period was $788,379 and its actual total direct labor was 39,500 hours.
Required: Compute the company's plantwide predetermined overhead rate for the year. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Predetermined overhead $ ________.
Answer:
Predetermined manufacturing overhead rate= $18.36 per direct labor hour
Explanation:
Giving the following information:
Estimated overhead cost for the period= $599,000
Variable overhead rate= $3 per DLH
Number of estimated direct labor hours= 39,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (599,000 / 39,000) + 3
Predetermined manufacturing overhead rate= $18.36 per direct labor hour
OR:
Fixed overhead rate= 599,000/39,000= $15.36 per DLH
Variable overhead rate= $3 per DLH
Plantwide overhead rate= $18.36 per direct labor hour
According to a summary of the payroll of Mountain Streaming Co., $110,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $25,000 was subject to state and federal unemployment taxes.a. Calculate the employer's payroll taxes, using the following rates: state unemployment, 5.4%; federal unemployment, 0.8%.
Answer: $9,800
Explanation:
Payroll taxes = Social security + Medicare +State unemployment + Federal unemployment
= (110,000 * 6%) + (110,000 * 1.5%) + (25,000 * 5.4%) + (25,000 * 0.8%)
= 6,600 + 1,650 + 1,350 + 200
= $9,800
Susan uses her office building as collateral to access credit and take out a loan from the bank. Because of the loan, she can hire three people to help her manage her business.
Answer:
property rights
Explanation:
edmentum/plato
Nick sees a commercial for a Brand X clothing company that depicts the wearers of the clothes out having a good time with friends. Although he doesn't particularly need new clothes, the commercial prompts him to buy a Brand X t-shirt. This illustrates a common.......... of advertising.
Answer:
Critique of
Explanation:
Advertising
This simply is used to give notice, pass informations, for notification etc. from a known source and it is delivered through a mass-mediated channel that is set up to persuade the masses.
The 3 main components of successful advertising includes information, reasoning, and emphases.
The critiques of advertising:
There are several critiques of advertising. It includes the fact that the society is wasting resources, companies manipulate people's tastes, it hinders competition because it creates the perception that products are more differentiated than they are, allowing higher assumptions or markups.
The 4 types of advertising criticisms includes the effect, taste, role, and appropriateness.
Assume that Zonk is a potential leveraged buyout candidate. Assume that the buyer intends to put in place a capital structure that has 70 percent debt with a pretax borrowing cost of 14 percent and 30 percent common equity. Compute the revised equity beta for Zonk based on the new capital structure.
Answer: 4.35
Explanation:
The revised equity beta for Zonk based on the new capital structure will be gotten as follows:
= 1.13 × [1 + (1 - 35%)][70% /30%]
= 1.13 × [1+(1-0.35)][0.70/0.30]
= 1.13 × [1 + 0.65][2.33]
= 1.13 × (1.65)(2.33)
= 4.35
Therefore, the revised equity beta for Zonk is 4.35.
