Answer:
You must be positive
Emotional intelligence
A growth mindset
Adaptability and resiliency
Answer:
if you want to take up a business for your future career these are your personal traits you must have when you are creating a business;
Be positiveWork FastBe KindBe OrganizedKeep your Business Surroundings Clean and tidyGet rid of Pests and insects in your Business Area and SurroundingHand everything with CareAlways Help your CustomerWhat is the initial selling price needed to obtain a target profit of $50,000 using the manufacturing cost markup method
Answer:
$15 per unit
Explanation:
Note "The full question is attached as picture below"
Markup = (Fixed Costs + Desired Profit) / Units produced
Markup = ($300,000 + $150,000 + $50,000) / 50,000
Markup = $500,000 / 50,000 units
Markup = $10 per unit
Variable cost per unit = Variable cost / Quantity
Variable cost per unit = ($200,000 + $50,000) / 50,000
Variable cost per unit = $5 per unit
Sales price = Variable cost + Markup
Sales price = $5 per unit + $10 per unit
Sales price = $15 per unit
So, the initial selling price needed to obtain a target profit of $50,000 using the manufacturing cost markup method is $15 per unit.
On November 1, clients of Great Designs Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour. a. Journalize the receipt of cash. If an amount box does not require an entry, leave it blank. Nov. 1 fill in the blank 15e2fafaf020002_2 fill in the blank 15e2fafaf020002_3 fill in the blank 15e2fafaf020002_5 fill in the blank 15e2fafaf020002_6 b. As of November 30, Great Designs shows that 15 hours of services have been provided on this agreement. Journalize the necessary adjusting entry. If an amount box does not require an entry, leave it blank. Nov. 30 fill in the blank 55e33803103f004_2 fill in the blank 55e33803103f004_3 fill in the blank 55e33803103f004_5 fill in the blank 55e33803103f004_6 c. Determine the total unearned fees in hours and dollars at November 30. Unearned fees in dollars $fill in the blank b5fba80a1040fa8_1 Unearned fees in hours fill in the blank b5fba80a1040fa8_2 hours
Answer:
Total unearned fees in dollars at November 30 = $2975
Total unearned fees in hours at November 30 = 35 hours
Explanation:
Assuming no interactions, the main effects analysis of a one-half fractional factorial experiment compared to a comparable full factorial experiment yields which of the following outcomes?
a. Only the full factorial is accurate
b. The one-half factorial gives one-half of the final outcome
c. Both can be calculated but computer software is required
d. Both results are approximately the same
Answer:
d. Both results are approximately the same
Explanation:
As there is no interaction
One-half factorial will give half of the result of the experiment.
When there is a lack of resources, we also do the one-half factorial to complete the full factorial experiment.
Hence, both provide the approximately same outcomes of the experiment.
If Medicaid is expanded to cover a greater percentage of the population: the public debt will immediately increase. implicit liabilities will increase. implicit liabilities will decrease. implicit liabilities will be unaffected.
Answer: implicit liabilities will increase.
Explanation:
Implicit liabilities are incurred by government as a result of them having to take care of their citizens. Medicaid is one such liability.
If the government were to expand the percentage of people in the country that are to be covered by medical aid, this would mean that more Medicaid will be paid by the government which means that the implicit liabilities will increase.
The journal entry to record the accrual of factory utilities is to: Multiple choice question. debit Factory Overhead and credit Utilities Payable debit Utilities Payable and credit Factory Overhead debit Factory Overhead and credit Cash debit Cash and credit Factory Overhead
Answer:
debit Factory Overhead and credit Utilities Payable
Explanation:
The journal entry to record the accrual of factory utilities is to: Debit Expense Account - Factory Overhead and Credit Liability Account -Utilities Payable.
Mass customization is ______. Group of answer choices the redesign of components found to be faulty in earlier versions of a product the mass production of individually customized products the reuse of components discarded from scrapped products the production of each product by hand for specific custom
Answer:
production of individually customized products
Explanation:
Mass customization can be described as when a company produces and delivers market goods and services that are suited to meet the needs of individual customers
It combines the benefit of low cost associated with mass production with the customization of goods.
An example of a product that is mass customized is the mobile phone. A mobile phone is mass produced but due to its software, users are able to modify or customize their phone to suit their needs
Types of Mass customization
Collaborative customization: In this type of Mass customization, customers and the company work together to create a good or service that meets the unique needs of the consumer. Adaptive customization: the good or service created can be further customized by the consumer to suit their needs. Transparent customization: unique products are made for each consumer . Cosmetic customization: different types of standardized products are made for various groups of customers.Advantages of Mass customization
Customer satisfaction increasesGoods are produced at lower costsDisadvantages of Mass customization
It would be difficult for the company to build up stock ahead of time due to the unique needs of the customersthere would be an increased wait time from the time the order is made till when it is deliveredAfter issuing its financial statements, a company discovered that its beginning inventory was overstated by $150,000. Its tax rate is 25%. As a result of this error, net income was:
Answer:
Understated by $112,500
Explanation:
Calculation to determine the Net income
Using this formula
Net income=Overstated beginning inventory×(1-Tax rate)
Let plug in the formula
Net income=$150,000 x (1-25%)
Net income=$150,000×.75
Net income= $112,500 Understated
Therefore As a result of this error, net income was:Understated by $112,500
The world's average (mean) GDP per capita is $10,515. There are roughly 7 billion people in the world. About 20% of the world's population produces 50% of the world's total GDP. How much GDP does the top 20% produce
Answer:
$36.802.50 billion
Explanation:
GDP per capita measures the standard of living of the people in a country. The higher the GDP per capita, the higher the standard of living
GDP per capita = GDP / population
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
$10,515 = GDP / 7 billion
GDP = $10,515 x 7 billion
GDP = 73,605 billion
GDP of the top 20% = 50% x 73,605 billion = $36.802.50 billion
Future Value of Multiple Annuities Assume that you contribute $150 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $350 per month for another 20 years. Given an 8 percent interest rate, what is the value of your retirement plan after 40 years
Answer:
$641,455.26
Explanation:
Calculation to determine the value of your retirement plan after 40 years
First step is to determine FV Using financial calculator
N = 40*12 = 480
I = 8%/12 = .6667
PV = 0,
PMT = $150
CPT FV =$523,651.17
N = 20*12 = 240
I = 8%/12 = .6667
PV = 0
PMT = $200 ($350 - $150)
CPT FV =$117,804.08
Now let determine the value of your retirement plan after 40 years
Sum of FV =$523,651.17+$117,804.08
Sum of FV =$641,455.26
Therefore the value of your retirement plan after 40 years will be $641,455.26
The following static budget is provided: Units 22,000 Units Sales $ 220,000 Less variable costs: Manufacturing costs $ 77,000 Selling and administrative costs $ 50,600 Contribution margin $ 92,400 Less fixed costs: Manufacturing costs $ 26,400 Selling and administrative costs $ 20,900 Net income $ 45,100 What will budgeted net income equal if 20,000 units are produced and sold
Answer:
$43,064
Explanation:
Sales $220,000 / 22,000 × 20,000
$200,000
Variable costs $77,000 / 22,000 × 20,000
($63,636)
Selling and admin $50,600 / 22,000 × 20,000
($46,000)
Manufacturing cost fixed
($26,400)
Selling and admin fixed
($20,900)
Net income
$43,064
Therefore, budgeted net income will equal $43,064 if 20,000 units are produced and sold.
Your project is split into two teams across two different continents. They understand the work to be completed, as well as communication processes. But they still often argue about how the work should be accomplished and who should make decisions. Given what you know, what is the most likely cause for these issues?
Answer:
Your project is split into two teams across two different continents. They understand the work to be completed, as well as communication processes. But they still often argue about how the work should be accomplished and who should make decisions. Given what you know, what is the most likely cause for these issues?
cultural differences
Explanation:
considers the problem of building railway tracks under the assumption that pieces fit exactly with no slack. Now consider the real problem, in which pieces don’t fit exactly but allow for up to 10 degrees of rotation to either side of the "proper" alignment. Explain how to formulate the problem so it could be solved by simulated annealing
Answer:
By using simulated annealing we will sample the next state, evaluate and take the next state according to the probability e^Δv
Value function ( V ) = ( a * number of gaps ) + ( b * number of misconnected pieces ) + ( c * sum of sizes of gaps )
a,b,c = adjustable
Explanation:
In order to solve this problem by simulated annealing
First condition : assuming that pieces of the railways tracks fit exactly with no slack
Assume a state configuration of 32 pieces, use of discrete operations whose function is to remove pieces and reconnect it somewhere else without slack , we will also consider a continuous operations to help change angles to real values
Second condition : considering a real problem
This condition can be considered to be a closed loop because when one joint is moved all other joints are moved, here we will consider using a heuristic function
By using simulated annealing we will sample the next state, evaluate and take the next state according to the probability e^Δv
Value function ( V ) = ( a * number of gaps ) + ( b * number of misconnected pieces ) + ( c * sum of sizes of gaps )
a,b,c = adjustable
The master budget includes individual budgets for sales, production or merchandise purchases, various expenses, capital expenditures, and cash.
A. True
B. False
Answer: True
Explanation:
The statement that the master budget includes the individual budgets for the sales, production or merchandise purchases, various expenses, capital expenditures, and cash is true.
It should be noted that the master budget consists of the budgets of the lower-level that can be found in an organization, the cash flow forecasts, and a financial plan.
The master budget gives firm a wider view of its finances and is used in making organizational decisions.
There is a bond that has a quoted price of 103.203 and a par value of $2,000. The coupon rate is 6.81 percent and the bond matures in 23 years. If the bond makes semiannual coupon payments, what is the effective annual interest rate
Answer: 6.53%
Explanation:
You can use an Excel worksheet to solve this.
The bond pays semi-annual coupons so you need to convert these measures to periodic measures:
Coupon = 6.81% * 2,000 * 0.5 = $68.10
Maturity term = 23 * 2 = 46 semi annual periods
Present value = 2,000 * 103.203 quoted price = $2,064.06
Use the Rate function as attached:
Periodic rate = 3.2694%
Annual rate = 3.2694 * 2
= 6.53%
Selected sales and operating data for three divisions of different structural engineering firms are given as follows: Division A Division B Division C Sales $ 12,000,000 $ 14,000,000 $ 25,000,000 Average operating assets $ 3,000,000 $ 7,000,000 $ 5,000,000 Net operating income $ 600,000 $ 560,000 $ 800,000 Minimum required rate of return 14% 10% 16% Required: 1. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover. 2. Compute the residual income (loss) for each division. 3. Assume that each division is presented with an investment opportunity that would yield a 15% rate of return. a. If performance is being measured by ROI, which division or divisions will probably accept or reject the opportunity
Answer:
1. See part 1 below for the calculations.
2. We have:
Division A's Residual Income (loss) = $180,000
Division B's Residual Income (loss) = ($140,000)
Division C's Residual Income (loss) = $0
3.a. Only Division B will probably accept the investment opportunity.
3.b. Divisions A and B will probably accept the investment opportunity.
Explanation:
Note: This question is not complete as the part 3-b of the requirement is omitted. The question is therefore completed before answering the question by providing the part 3-b as follows:
b. If performance is being measured by residual income, which division or divisions will probably accept the opportunity?
The explanation of the answer is now provided as follows:
The following are given:
Division A Division B Division C
Sales $12,000,000 $14,000,000 $25,000,000
Average operating assets $3,000,000 $7,000,000 $5,000,000
Net operating income $600,000 $560,000 $800,000
Min. req'd rate of return 14% 10% 16%
1. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover.
The relevant formulae are as follows:
Margin = Net Operating Income / Sales
Turnover = Sales / Average Operating Assets
Return on Investment = Margin * Turnover
Therefore, we have:
Division A:
Margin = $600,000 / $12,000,000 = 0.05, or 5%
Turnover = $12,000,000 / $3,000,000 = 4 times
Return on Investment = 5% * 4 = 0.20, or 20%
Division B:
Margin = $560,000 / $14,000,000 = 0.04, or 4%
Turnover = $14,000,000 / $7,000,000 = 2 times
Return on Investment = 4% * 2 = 0.08, or 8%
Division C:
Margin = $800,000 / $25,000,000 = 0.032, or 3.20%
Turnover = $25,000,000 / $ 5,000,000 = 5 times
Return on Investment = 3.2% * 5 = 0.16, or 16%
2. Compute the residual income (loss) for each division.
The following is the formula to use:
Residual Income (loss) = Net Operating Income - (Minimum Required Return * Average Operating Assets)
Therefore, we have:
Division A's Residual Income (loss) = $600,000 - (14% * $3,000,000) = $180,000
Division B's Residual Income (loss) = $560,000 - (10% * $7,000,000) = ($140,000)
Division C's Residual Income (loss) = $800,000 - (16% * $5,000,000) = $0
3-a. Assume that each division is presented with an investment opportunity that would yield a 15% rate of return. If performance is being measured by ROI, which division or divisions will probably accept the opportunity?
If a division's Return on Investment (ROI) is less than 15%, the decision criterion is to accept the investment opportunity. Otherwise, it will be rejected. Therefore, only Division B is will probably accept the investment opportunity, based on the results of Part 1 above. Division A and C will reject it.
3-b. Assume that each division is presented with an investment opportunity that would yield a 15% rate of return. If performance is being measured by residual income, which division or divisions will probably accept the opportunity?
The decision criterion is for a division to accept the investment opportunity if its minimum required rate of return is lower than 15%. Otherwise, it will be rejected.
Based on the information in the question, Divisions A and B will probably accept the investment opportunity. Division C will reject it.
An insurance company received claim forms from 22 phony doctors. The forms all originated from two addresses: a post office box and a business located in a nearby city and owned by the manager's husband. The manager used a limousine to pick up fellow employees from an expensive restaurant. What fraud symptoms are mentioned in this scenario
Answer:
Option D
Explanation:
Complete question
An insurance company received claim forms from 22 phony doctors. The forms all originated from two addresses: a post office box and a business located in a nearby city and owned by the manager's husband. The manager used a limousine to pick up fellow employees from an expensive restaurant. What fraud symptoms are mentioned in this scenario? A) Accounting anomalies B) Extravagant lifestyles C) Internal control weaknesses D) Both a and b E) All of the above
Solution
The Accounting anomalies are include the following
a) source documents
b) faulty journal entries
c) inaccuracies in ledgers
Extravagant lifestyles fraud occur when a person's expense is not in compliance of their known income.
Hence, both option A and B are correct.
Option D
a T-bill money market fund that yields a sure rate of 4.6%. The probability distributions of the risky funds are: Expected Return Standard Deviation Stock fund (S)166%Bond fund (B)70%The correlation between the fund returns is 0.0800. What is the Sharpe ratio of the best feasible CAL
Answer:
The Sharpe ratio of the best feasible CAL is 0.3167.
Explanation:
Note: This question is not complete as some data are omitted. The complete qustion is therefore provided before answering the question. See attached pdf file for the complete question.
Risk-free rate = Sure rate of the T-bill money market fund = 4.6%, or 0.046
Sharpe ratio of a fund = (Expected return - Risk-free rate) / Standard Deviation …………. (1)
Using equation (1), we have:
Sharpe ratio of Stock fund = (16% - 4.6%) / 36% = 0.3167
Sharpe ratio of Bond fund = (7% - 4.6%) / 30% = 0.08
Since Sharpe Ratio of Stock Fund (S) is higher than Sharpe Ratio of Bond Fund (B), this implies that the best option is to invest in Stock Fund (S).
Therefore, the Sharpe ratio of the best feasible CAL is 0.3167.
Bloom Company management predicts that it will incur fixed costs of $251,000 and earn pretax income of $365,100 in the next period. Its expected contribution margin ratio is 61%. Required: 1. Compute the amount of total dollar sales. 2. Compute the amount of total variable costs
Answer and Explanation:
The computation is shown below;
a. The amount of the total dollar sales is
Pretax income = Sales value - Variable cost - Fixed cost
where,
Sales value - variable cost = Contribution margin
$365,100 = Contribution margin - $251,000
So,
Contribution margin = $616,100
Now
Contribution margin = Sales value × Contribution margin ratio
$616,100 = Sales value × 61%
So,
Sales value = $1,010,000
b. The total variable cost is
= Sales - fixed cost - pre tax income
= $1,010,000 - $251,000 - $365,100
= $393,900
Suppose you have $100 of endowment, and you are offered a chance to buy a lottery which costs $36. The lottery has 43% of chance to win a prize of $G, or you just lose and get nothing. Suppose your utility function on wealth is u(w)=w^1/2. What is the least prize size G that you will be willing to buy the lottery? (Round to the second digit after decimal point.)
Answer:
96.02
Explanation:
Lottery's Expected utility = [tex]\sqrt{100}[/tex] = 10
Income in good state = 100 - 36 + G = 64 + G
Income in bad state = 100 - 36 = 64
Probability in good state = 43%
Probability in bad state = 100% - 43% = 57%
Expected utility = Probability in good state x [tex]\sqrt{(64 + G )}[/tex] + Probability in bad state x [tex]\sqrt{64\\}[/tex]
10 = 43% x [tex]\sqrt{(64 + G )}[/tex] + 57% x 8
10 = 43% x [tex]\sqrt{(64 + G )}[/tex] + 4.56
10 - 4.56 = 43% x [tex]\sqrt{(64 + G )}[/tex]
5.44 = = 43% x [tex]\sqrt{(64 + G )}[/tex]
5.44 / 43% = [tex]\sqrt{(64 + G )}[/tex]
12.65 = [tex]\sqrt{(64 + G )}[/tex]
[tex]12.65^{2}[/tex] = [tex](\sqrt{(64 + G )})^{2}[/tex]
160.0225 = 64 + G
G = 160.0225 - 64
G = 96.0225
G = 96.02
Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow:
20Y5 20Y6
Net income $1,508,000 $2,676,000
Preferred dividends $60,000 $60,000
Average number of
common shares outstanding 80,000 shares 120,000 shares
a. Determine the earnings per share for 20Y5 and 20Y6.
b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable?
Answer and Explanation:
a. The computation of the earning per share is given below:
As we know that
Earning per share = (Net income - preference dividend) ÷ (average no of common shares oustanding)
For 20Y5
= ($1,508,000 - $60,000) ÷ 80,000 shares
= $18.1
For 20Y6
= ($2,676,000 - $60,000) ÷ 120,000 shares
= $21.8
b. Since the earning per share is increased from 20Y5 to 20Y6 so it is favorable
Given the points (-4,8) and (6,-12)
Answer:
N/A
Explanation:
What is the question. There is nothing to answer.
n economy has three industries, farming, building, and clothing. For every dollar of food produced, the farmers use $0.1, the builders use $0.05, and the tailors use $0.05. For every dollar of building, the builders use $0.05, the farmers use $0.11, and the tailors use $0.13. For every dollar of clothing produced, the tailors use $0.06, the builders use $0.15, and the farmers use $0.1. If the external demand for food is $260 million, for building is $200 million, and for clothing is $120 million, what should be the total production for each industry
Answer:
Please find the complete question for the solution:
Explanation:
Using formula:
[tex]\text{Production for each industry = External demand} \div \%\ \text{to meet external demand}[/tex]
[tex]- \ \ \ \ \ \ \ \ \ \ Farming \ \ \ \ \ \ \ \ \ \ Building \ \ \ \ \ \ \ \ \ \ Clothing \ \ \ \ \ \ \ \ \ \ \text{Remaining \% to meet external demand}\\\\\text{For every \$ of:}\\\\\\ Food \ produced \ \ \ \ \ \ 7\% [(\frac{\$0.07}{\$1})\times 100] \ \ \ \ \ \ 3\% [(\frac{\$0.03}{\$1})\times 100] \ \ \ \ \ \ \ 6\% [(\frac{\$0.06}{\$1})\times 100 \ \ \ \ \ 84\%\\\\[/tex]
[tex]Building\ \ \ \ \ \ \ \ 5\% [(\frac{\$0.05}{\$1})\times 100] \ \ \ \ \ \ \ \ 5\ [\frac{\$0.05}{\$1})\times 100] \ \ \ \ \ \ \ \ \ \ 13\% [(\frac{\$0.13}{\$1})\times 100]\ \ \ \ \ \ \ \ \ \ 77\%\\\\Clothing\ produced \ \ \ 18\% [(\frac{\$0.18}{\$1})\times 100]\ \ \ 4\% [(\frac{\$0.04}{\$1})\times 100]\ \ 13\% [(\frac{\$0.13}{\$1})\times 100] \ \ 65\%\\\\[/tex]
So, the answer is:
[tex]\text{Farming production} (\$170\ mil \div 84\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$202.38\ million\\\\\text{Building production} (\$140\ mil \div 77\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$181.82 \ million\\\\\text{Clothing production} (\$240\ mil \div 65\%)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$369.23\ million\\\\[/tex]
The total production for each industry is as follows:
Food Building Clothing
(Million) (Million) (Million)
Total production $325 $281.69 $173.91
How is total production determined?The total production for each industry is determined by dividing the external demand by external usage per dollar.
The external usages per dollar are the differences between what the primary producers consumed or used and the total production per dollar.
Data and Calculations:Food Building Clothing
Farmers' usage $0.1 $0.11 $0.10
Builders' usage $0.05 $0.05 $0.15
Tailors' usage $0.05 $0.13 $0.06
External usage $0.80 $0.71 $0.69
External demand $260 $200 $120
Total production $325 $281.69 $173.91 ($120/$0.69)
Thus, the total production for each industry is Food, $325 million, Building, $281.69 million, and Clothing, $173.91 million.
Learn more about production and consumption https://brainly.com/question/4978509
Hot Shot Delivery Inc. provides the following year end data:
2020 2019
Cash $65,000 $38,000
Accounts Receivable 60,000 39,000
Merchandise Inventory 66,000 26,000
Property, Plant & Equip 219,000 154,000
Total Assets 410,000 257,000
Sales Revenue $530,000
Cost of Goods Sold 180,000
Interest Expense 30,000
Net Income 112,000
Calculate the rate of return on total assets for 2018.
a. 55.3%.
b. 52.5%.
c. 42.6%.
d. 27.3%.
Answer:
c. 42.6%
Explanation:
Average total assets = $410,000+$257,000/2
Average total assets = $667,000
Average total assets = $333,500
Net income = $112,000
Interest expenses = $30,000
Return on total assets = Net income + Interest expenses / Average total assets
Return on total assets = $112,000 + $30,000 / $333,500
Return on total assets = 0.42388060
Return on total assets = 42.39%
Differentiate between a defined contribution pension plan and a defined benefit pension plan. Explain how the employer's obligation differs between the two types of plans.
Answer:
Differences Between a Defined Contribution Pension Plan and a Defined Benefit Pension Plan.
With a defined contribution pension plan, the benefit that will accrue to the employee is not known or defined ahead of her retirement. But the contributions that will be made by the employer and the employee to fund the pension are clearly spelt out.
With a defined benefit pension plan, the benefit (i.e. the monthly payment to the retiree) is stated ahead of the pension time. It is based on the employee's tenure and salary. Employees do not contribute to the plan but are entitled to lifetime monthly payments.
Explanation:
The employer and each employee contribute some certain percentages to each worker's individual retirement account (IRA) under the defined contribution pension plan. Under the defined benefit pension plan, the employer is solely responsible for funding the plan and the employee benefits via a monthly payment from the funding plan during retirement.
A DuPont analysis is conducted using the DuPont equation, which helps to identify and analyze three important factors that drive a company’s ROE. According to the equation, which of the following factors directly affect a company’s ROE? Check all that apply. Total Assets / Total Common Equity Net Income / Sales Price per Share / Earnings per Share
Answer:
Total Assets / Total Common Equity
Explanation:
Depend upon theDu Pont Equation,
The following formula should be used
ROE = Net profit margin × Total asset turnover × Equity multiplier
And,
ROE = (Net profit ÷ Sales) × (Sales ÷ Total Assets) × (Assets ÷ Equity)
So as per the above formula, the above answer should be considered
Do we have to show repair expense of abnormal loss in consignment account.If yes,how ?
Answer:
yes
Explanation:
to see the income and costs of the business
National Furniture Company has 25,000 shares of cumulative preferred 2% stock, $75 par and 200,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $25,000 Year 2 88,000 Year 3 95,500 Determine the dividends per share for preferred and common stock for each year. If an answer is zero, enter '0'. Round all answers to two decimal places.
Answer:
Year 1
Preferred Dividend = $25,000
Common Stock Dividend = $0
Year 2
Preferred Dividend = $37,500
Common Stock Dividend = $50,500
Year 3
Preferred Dividend = $25,000
Common Stock Dividend = $70,500
Explanation:
The dividends per share for preferred and common stock for each year.
Preferred Dividend
Is a fixed charge. When it is cumulative, all dividends in arrears are accumulated an paid in future when funds become sufficient before other dividends are paid.
Preferred Dividend = 25,000 x $75 x 2 % = $37,500
Common Stock Dividend
Holders of Common Stock receive their dividends after the Preferred Stock holders have received their dividends.
Calculations
Year 1
Preferred Dividend = $25,000 (owing $12,500)
Common Stock Dividend = $0
Year 2
Preferred Dividend = $25,000 + $12,500 (owing ) = $37,500
Common Stock Dividend = $88,000 - $37,500 = $50,500
Year 3
Preferred Dividend = $25,000
Common Stock Dividend = $95,500 - $25,000 = $70,500
The following information is available for Culver Corporation. 2022 2021 Current assets $ 64,500 $ 40,300 Total assets 243,000 208,000 Current liabilities 25,000 32,500 Total liabilities 65,610 76,960 Net income 82,600 49,925 Net cash provided by operating activities 92,600 58,600 Preferred dividends 6,685 6,685 Common dividends 5,600 4,100 Expenditures on property, plant, and equipment 29,600 14,600 Common shares outstanding at beginning of year 42,500 32,600 Common shares outstanding at end of year 78,000 42,600 (a) Compute earnings per share for 2022 and 2021 for Culver. (Round Earnings per share to 2 decimal places, e.g. $2.78.)
Answer and Explanation:
The earning per share for 2022 and 2021 is presented below:
For the year 2022
= ($82,600 - $6,685) ÷ (42,500 + 78,000) ÷ 2
= ($75,915) ÷ (60,250)
= 1.26
For the year 2021
= ($49,925 - $6,685) ÷ (32,600 + 42,600) ÷ 2
= ($43,240) ÷ (37,600)
= 1.15
The same should be considered and relevant
You notice that the price of Blu-ray players falls and the quantity of Blu-ray players sold increases. You suspect that _____ Blu-ray players shifts to the _____. demand for; left supply of; left demand for; right supply of; right
Answer:
supply of; right
Explanation:
When the supply curve shifts rightward, there would be a rightward shift of the supply curve. As a result of the rightward shift, supply would increase and the price falls.
When the price of a good falls, the quantity demanded increases. This is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Thus, when the price of blue ray players fall, there would be an increase in the quantity of demanded. there would a movement down along the demand curve.
Analysis of Adjusting Entry for Supplies: Analyze each situation and indicate the correct dollar amount for the adjusting entry. (Trial balance is abbreviated as TB.)
1. Ending inventory of supplies is $239.
(Balance Sheet) (Income Statement)
Supplies Supplies Expense
TB 599
Bal.___
2. Amount of supplies used is $235.
(Balance Sheet) (Income Statement)
Supplies Supplies Expense
TB 470
Bal.___
ANALYSIS OF ADJUSTING ENTRY FOR INSURANCE: Analyze each situation and indicate the correct dollar amount for the adjusting entry
1. Amount of insurance expired is $970.
(Balance Sheet) (Income Statement)
Prepaid Insurance Insurance Expense
TB 1,450
2. Amount of unexpired insurance is $565.
(Balance Sheet) (Income Statement)
Prepaid Insurance Insurance Expense
TB 1,350
POSTING ADJUSTING ENTRIES: Two adjusting entries are in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of accounts: 141, Supplies; 219, Wages Payable 511, Payable; 511, working pan Wages Expense; and S23, Supplies Expense. If you are nor using the he entrs: Supolt accompany this text, enter the following balances before posting s that es: Supplies, $200 Dr ies, $200 Dr; Wages Expense, $1,200 Dr.
Question Completion:
POSTING ADJUSTING ENTRIES Two adjusting entries are in the following general journal. Post these adjusting entries to the four general ledger accounts. The following account numbers were taken from the chart of accounts: 141, Supplies; 219, Wages Payable 511, Wages Expense; and 523, Supplies Expense. If you are not using the working papers that accompany this text, enter the following balances before posting the entries: Supplies, $200 Dr; Wages Expense, $1,200 Dr
Answer:
1. Ending inventory of supplies is $239.
(Balance Sheet) (Income Statement)
Supplies $239 Supplies Expense $360 ($599 - $239)
TB 599
Bal.___ $239
2. Amount of supplies used is $235.
(Balance Sheet) (Income Statement)
Supplies $235 Supplies Expense $235
TB 470
Bal.___$235
ANALYSIS OF ADJUSTING ENTRY FOR INSURANCE: Analyze each situation and indicate the correct dollar amount for the adjusting entry
1. Amount of insurance expired is $970.
(Balance Sheet) (Income Statement)
Prepaid Insurance $480 Insurance Expense $970
($1,450 - $970)
TB 1,450
2. Amount of unexpired insurance is $565.
(Balance Sheet) (Income Statement)
Prepaid Insurance $565 Insurance Expense $785 ($1,350 - $785)
TB 1,350
141, Supplies
Account Titles Debit Credit
523, Supplies Expense $200
219, Wages Payable
Account Titles Debit Credit
511, Wages Expense $1,200
511, Wages Expense
Account Titles Debit Credit
219, Wages Payable $1,200
523, Supplies Expense
Account Titles Debit Credit
141, Supplies $200
Explanation:
a) Required chart of accounts:
141, Supplies
219, Wages Payable
511, Wages Expense
523, Supplies Expense
Adjusting entries:
Supplies, $200 Dr; Wages Expense, $1,200 Dr
