Answer:
depreciation expense 2021 = $6,200
depreciation expense 2022 = $6,700
Explanation:
depreciable value = $29,000 - $200 = $28,800
depreciation expense per mile driven = $28,800 / 144,000 = $0.20
number of miles driven during 2021 = 31,000
depreciation expense 2021 = 31,000 x $0.20 = $6,200
number of miles driven during 2020 = 33,500
depreciation expense 2022 = 33,500 x $0.20 = $6,700
A company purchased $10,700 of merchandise on June 15 with terms of 2/10, n/45, and FOB shipping point. The freight charge, $850, was added to the invoice amount. On June 20, it returned $1360 of that merchandise. On June 24, it paid the balance owed for the merchandise taking any discount it is entitled to. The cash paid on June 24 equals:______
a. $10,003.
b. $9,224.
c. $11,550.
d. $11,210.
e. $11,11Ο.
Answer:
a. $10,003.
Explanation:
The terms of 2/10, n/45 means that there is a 2% discount if the payment is made within 10 days of the sales date and rhe net credit period is 45 days.
Calculate total invoice value
Total Invoice value = Merchandise value + Freight Charges = $10,700 + $850 = $11,550
As the payment is made on June 24 within the discount period, the discount will be availed
Discount = ( Purchases made - Returns ) x 2% = ( $10,700 - $1,360 ) x 2% = $186.80 = $187
Now the Amount paid
Amount Paid = Invoice value - Return - Discount avaialed = $11,550 - $1360 - 187 = $10,003
The doctrine of state decisis is a
A firm with a net income of $30,000 and weighted average actual shares outstanding of 15,000 for the year also had the following two securities outstanding the entire year: (1) 2,000 options to purchase one share of stock for $12 per share. The average share price during the year was $20, (2) cumulative convertible preferred stock with an annual dividend commitment of $4,500. Total common shares issued on conversion are 2,900. Compute diluted EPS for this firm.
Answer:
$1.68
Explanation:
Diluted EPS = Earnings Attributable to Potential Ordinary Shareholders ÷ Weighted Average Number Ordinary Shareholders plus Potential Voting Rights
where,
Earnings Attributable to Potential Ordinary Shareholders = $30,000
and
Weighted Average Number Ordinary Shareholders plus Potential Voting Rights
Weighted average actual shares outstanding = 15,000
Plus Potential voting rights of 2,000 options = 1
Plus Potential voting right of preferred stock = 2,900
Total = 17,901
therefore,
Diluted EPS = $30,000 ÷ 17,901
= $1.68
DRK, Inc., has just sold 100,000 shares in an initial public offering. The underwriter’s explicit fees were $60,000. The offering price for the shares was $40, but immediately upon issue, the share price jumped to $44. a. What is the total cost to DRK of the equity issue? b. Is the entire cost of the underwriting a source of profit to the underwriters? multiple choice Yes No
Answer: a. $460,000 ; b. No
Explanation:
a. What is the total cost to DRK of the equity issue?
First, we calculate the implicit cost per share which will be:
= $44 - $40 = $4.
Therefore, the total implicit cost will be:
= $4 × 100,000
= $400,000
Therefore, total cost to DRK of the equity issue will be:
= Implicit cost + Explicit cost
= $400,000 + $60,000
= $460,000
b. Is the entire cost of the underwriting a source of profit to the underwriters?
No. The entire cost of the underwriting would not be a source of profit to the underwriters. This is because the cost of underpricing isn't included.
On November 1, 2018, Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, with the contract to start immediately. King agreed to pay Taylor $5,520 for the one-year period. Taylor is confident that King will pay that amount, but payment is not scheduled to occur until 2019. Taylor should recognize revenue in 2018 in the amount of:_____.
a. $900.
b. $2,700.
c. $0.
d. $5,400.
Answer: 920
Explanation:
Since the transaction took place in November, we should note that revenue should be recognized for 2 months by Taylor.
The amount that Taylor should recognize as revenue in 2018 will be:
= 5520/12 × 2
= 460 × 2
= 920
During a meeting with a potential customer, you are asked to explain the difference between two different types of systems that your company is developing. Although you feel confident that you correctly explained the systems, after the meeting you realize that you inadvertently confused some of the characteristics, and partly described a third system that the customer had not even asked about. The systems are still prototypes and there is no publicly available information about them, so it is unlikely that the potential customer will realize that you confused the systems and are not up-to-date on your company's products. What should you do?
Answer:
First, update your knowledge of the company's product (especially at this development stage). The purpose is for a demonstration of general knowledge and not for you to provide all the technical details to the potential customers. So, try to stick to the claims about the product's performance and not the details.
Secondarily, request for the documentation of research and development activities. This will provide some literature for the sales and marketing efforts to be effective. Study the available data about the product development, customer requirements, and lifecycle.
Explanation:
In marketing newly developed products, the marketing personnel should bear in mind that effective communication of value to the potential customers is what is required at the initial stage, without too much details. The effort should be to convince customers of the value of the products under development.
True or false: small server sections are more typical in fast service operations
Answer:
False
Explanation:
Bigger Servers are more typical than Small ones *for fast operations* because it has more sections,
Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $4,400 on each September 30, beginning on September 30, 2024. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 9% properly reflects the time value of money in this situation.
Answer: $16,613
Explanation:
As the noninterest-bearing note required Lincoln to make six annual payments of $4,400, this is an annuity because it is a constant figure.
The amount that should be recorded is the present value of this amount.
Present value of annuity = Annuity * ( 1 - ( 1 + rate) ^ -no. of periods) / rate
= 4,400 * ( 1 - ( 1 + 9%)⁻⁶) / 9%
= $19,738
This present value is for September 30, 2023. It needs to be discounted further to September 30, 2021.
= 19,738 / (1 + 9%)²
= $16,613
Suppose that a task in a project has the following time estimates: to optimistic completion time 11 weeks tm most likely completion time 14 weeks tp pessimistic completion time 23 weeks Compute the expected task variance. The task expected task variance is weeks. (Enter your response rounded to two decimal places.)
Answer:
6 weeks
Explanation:
Optimistic Completion Time - 11 weeks
Most likely completion time - 14 weeks
Pessimistic completion time - 23 weeks
Compute the expected task variance in weeks. Recall that Variance is a measure of dispersion - a measure that shows the distance or spread between or among values of a variable.
Expected Variance is the average of the variance values.
First,
the variance between optimistic CT and most likely CT is (14 - 11) = 3 weeks
Second,
the variance between pessimistic CT and most likely CT is (23 - 14) = 9 weeks
The expected variance is the average of these two values and that's (3 + 9)/2 = 12/2 = 6 weeks
So the expected variance from the mean completion time of 14 weeks is 6 weeks before or 6 weeks after. This accommodates both the optimist and the pessimist.
NEED HELP ASAP
There 22 Question
Kendra Corporation uses a process-cost accounting system. The company adds direct materials and direct labor at the start of its production process; overhead cost is incurred evenly throughout manufacturing. The firm has no beginning work-in-process inventory; its ending work in process is 40% complete. Which of the following sets of percentages would be used to calculate the correct number of equivalent units in the ending work-in-process inventory?
a. Materials, 100%; labor, 100%; overhead cost, 40%.
b. Materials, 100%; labor, 100%; overhead cost, 100%.
c. Materials, 100%; labor 40%; overhead cost, 40%.
d. Materials, 40%; labor, 40%; overhead cost, 60%.
e. Materials, 40%; labor, 40%; overhead cost, 100%.
Answer:
a. Materials, 100%; labor, 100%; overhead cost, 40%.
Explanation:
The work in Process have already passed the mark at which Materials and Labor are added, that is the start of its production process so these are both 100% complete. Overheads are 40 % complete, which is the extent of work done on them since they occur evenly.
2. Efficiency and effectiveness (Connect, Perform) Read the scenario and then complete the sentence with the correct term. Management in Life Your parents are hosting the huge annual family reunion this year, and they have determined that quite a bit of work needs to be done before all the relatives show up. They ask if you will repair the leaking faucets and replace the rec room carpet. They ask your sister to rid the lawn of weeds and reseed the bare patches, and they ask your brother to rent tents, a huge barbeque grill, and other equipment. They want the family to feel comfortable and have fun. To achieve greater , your dad decides to mount speakers around the backyard so people can listen to music streaming from his Rhapsody account. This will be less expensive than hiring a live band. In your first day as a driver for Road-O-Rama Freight, you realize that something just isn’t right. Trucks go out half full, and drivers often get the wrong addresses so freight doesn’t arrive at its destination. When telling a friend about your new job, how would you describe this company’s operations? Both effective and efficient Effective but not efficient Efficient but not effective Neither effective nor efficient
Answer:
When telling a friend about your new job, how would you describe this company’s operations?
Neither effective nor efficient
Explanation:
The company's operations will be considered effective if they achieve objectives. But they do not produce the desired results because drivers often get the wrong addresses, making freights not to arrive at their destinations. Similarly, the company's operations cannot be described as efficient because trucks go out half full with wrong addresses. This is a waste of time, money, and efforts, and the performance competence of the company is questionable. Efficient operations accomplish results with the least amount of resources. Effective operations achieve desired results successfully.
Summary of opportunity cost
How can a manager use a value chain to improve a company?
To improve a company's value chain, its value chain management team identifies each part of its production process and where improvements can be made. These improvements can either reduce costs or improve production capacity.
3. You are considering investing in a startup company called Minions Technologies. After careful analysis, you determine that Minions will be able to generate $100,000 in cash flow at the end of each year for the first 5 years. Then, Minions will generate cash flow of $400,000 at the end of the 6th year, after which it will grow at 11% per year forever. Using a discount rate of 18%, what is the amount you would be willing to invest
Answer:
$2,810,467
Explanation:
we need to determine the enterprise value of Minions Technologies
first, the terminal value at year 5 = $400,000 / (18% - 11%) = $5,714,286
then we must find the present value of all future cash flows, including the terminal value
PV of 5 five cash flows = $100,000 x 3.127 (PV annuity factor, 18%, 5 periods) = $312,700
PV of terminal value = $5,714,286 / 1.18⁵ = $2,497,767
total enterprise value = $2,810,467
Nigel belongs to a wealthy family. He has always enjoyed trying out new gadgets and devices that are launched in the market. Since he is financially well-off, he likes to experiment with expensive products and is comfortable with the risks and uncertainties associated with these products. Based on this description, Nigel most likely belongs to the group of:
Incomplete question. The Options;
a. Candidates for elected office
b. Early majority
c. Technology diffusers
d. Innovators
Answer:
b. Early majority
Explanation:
Recall we are told that Nigel loves trying new tech and is "financially well-off", so he falls under the category of those who are termed early majority who quickly try/adopt new technologies.
Also, the early majority are usually "comfortable with the risks and uncertainties associated with" new tech products, thus they are less worried about not deriving value for their money.
Don James purchased a new automobile for $21,000. Don made a cash down payment of $5,250 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate.
Required:
Calculate the amount of the required monthly payment.
Answer:
monthly payment. = $703.24 per month
Explanation:
given data
Cost of auto = $21000
Cash Down payment = $5250
Loan amount = PV = 21000-5250
loan amount = $15,750
time period = 30 monthly
Rate = 24% pa = 24÷12 = 2% pm
solution
we get here monthly payment that is express as
monthly payment. = [tex]\frac{P\times r\times (1+r)^n}{(1+r)^n-1}[/tex] ...................1
put here value and we get
monthly payment. = [tex]\frac{15750\times 0.02\times (1+0.02)^{30}}{(1+0.02)^{30}-1}[/tex]
solve it we get
monthly payment. = $703.24 per month
As you sit at your desk on your first day back after a rejuvenating vacation to the Caribbean, you bring your mind back to your work as the head of a beverage bottling plant. You have a lot of work to catch up on, and need to prioritize what is most important to address today. Because recent environmental changes have led to new competitors entering your industry you analyze the new environment and identify new strategies and goals to present to your boss. Which of the following basic management functions did you just engage in?
a. Leading
b. Planning
c. Organizing
d. Controlling
Answer:
d. Controlling
Explanation:
Analyzing the information above, it is correct to say that the manager is exercising the management function of controlling, which is the step of coordinating the activities of an organization and adapting them to the current business environment so that the objectives and goals set in the planning are achieved. Controlling is analyzing, defining, comparing, correcting errors, monitoring all the processes of the integrated system that makes up the organization so that the organizational flow and strategies are carried out in a way that is aligned with the organizational and effective purpose.
In the context of using information technologies for a competitive advantage, which statement is true of a top-line strategy? a. It focuses on generating new revenue by offering new products and services. b. It focuses on improving efficiency by reducing overall costs. c. It focuses on helping different market segments achieve technological advancement. d. It focuses on refining operations by using latest technologies.
Answer:
a. It focuses on generating new revenue by offering new products and services.
Explanation:
An information system or technology can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products. Thus, an information system or technology interacts with its environment by receiving data in its raw forms and information in a usable format.
Information technology is an integral part of human life because individuals, organizations, and institutions rely on information technologies in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, in the context of using information technologies for a competitive advantage over rivals in the industry, the statement which is true of a top-line strategy is that, it focuses on generating new revenue by offering new products and services. The top-line strategy ensures that the company continues to generate gross revenue or sales.
Question #1
A business organization that has members is a(n)
O Sole proprietorship
O Corporation
O Partnership
O LLC
Answer:
O LLC
Explanation:
Owners of a limited liability company, LLC are called its members. An LLC is formed by at least one member but has no upper limit. Members of an LLC may opt to get involved in managing business affairs. They enjoy unlimited liabilities to the debts of the entity. LLC members can be compared to the shareholders of a corporation.
If you deposit $5,000 4 years from today, how much can you withdraw 10 years from today if interest is 6 percent per year compounded annually?
Answer:
the future value is $7,093
Explanation:
The computation of the future value is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
= $5,000 × (1 + 0.06)^6
= $5,000 × 1.06^6
= $7,093
Hence, the future value is $7,093
Solving for dominant strategies and the Nash equilibrium
*Fill in the blanks please :) *
Suppose Paolo and Sharon are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Paolo chooses Right and Sharon chooses Right, Paolo will receive a payoff of 5 and Sharon will receive a payoff of 4.
The only dominant strategy in this game is for _________ to choose __________.
The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses __________ and Sharon chooses _______.
Question Completion:
Matrix payoff:
Sharon
Left Right
Paolo Left 8, 3 4, 4
Right 5, 3 5, 4
Answer:
The only dominant strategy in this game is for ___Paolo______ to choose ____Right______.
The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses ____Right______ and Sharon chooses __ Right_____.
Explanation:
a) Paolo's dominant strategy is the strategy that always provides the greater utility to Paolo, no matter what Sharon's strategy is. In this case, the dominant strategy for Paolo is to choose RIGHT always.
b) The Nash Equilibrium concept determines the optimal solution in a non-cooperative game in which each player (e.g. Paolo and Sharon) lacks any incentive to change their initial strategies. This implies that each player can achieve their desired outcomes by not deviating from their initial strategies since each player's strategy is optimal when considering the decisions of the other player.
On October 1, 2018, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:
Oct. 1 Jay transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $32,800.
4 Paid rent for period of October 4 to end of month, $3,180.
10 Purchased a used truck for $27,000, paying $3,000 cash and giving a note payable for the remainder.
13 Purchased equipment on account, $12,790.
14 Purchased supplies for cash, $2,200.
15 Paid annual premiums on property and casualty insurance, $4,920.
15 Received cash for job completed, $13,780.
Enter the following transactions on Page 2 of the two-column journal:
21 Paid creditor a portion of the amount owed for equipment purchased on October 13, $4,560.
24 Recorded jobs completed on account and sent invoices to customers, $15,680.
26 Received an invoice for truck expenses, to be paid in November, $1,440.
27 Paid utilities expense, $1,640.
27 Paid miscellaneous expenses, $590.
29 Received cash from customers on account, $6,560.
30 Paid wages of employees, $4,360.
31 Paid dividends, $3,640.
Required:
1. Journalize and insert the posting references for each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. For a compound transaction, if an amount box does not require an entry, leave it blank.
11 Cash 31 Common Stock
12 Accounts Receivable 33 Dividends
13 Supplies 41 Fees Earned
14 Prepaid Insurance 51 Wages Expense
16 Equipment 53 Rent Expense
18 Truck 54 Utilities Expense
21 Notes Payable 55 Truck Expense
22 Accounts Payable 59 Miscellaneous Expense
Answer:
Pioneer Designs
Journal Entries:
Date Account Titles Debit Credit
Oct. 1 11 Cash $32,800
31 Common Stock $32,800
To record the transfer of cash for common stock.
Oct. 4 53 Rent Expense $3,180
11 Cash $3,180
To record the payment of October rent.
Oct. 10 18 Truck $27,000
11 Cash $3,000
21 Notes Payable $24,000
To record the purchase of truck for cash and with a note for the remainder.
Oct. 13 16 Equipment $12,790
22 Accounts Payable $12,790
To record the purchase of equipment on account.
Oct. 14 13 Supplies $2,200
11 Cash $2,200
To record the purchase of supplies for cash.
Oct. 15 14 Prepaid Insurance $4,920
11 Cash $4,920
To record the prepayment of annual insurance premium.
Oct. 15 11 Cash $13,780
41 Fees Earned $13,780
To record the receipt of cash for job completed.
Page 2:
Oct. 21 22 Accounts Payable $4,560
11 Cash $4,560
To record the part-payment on account.
Oct. 24 12 Accounts Receivable $15,680
41 Fees Earned $15,680
To record the jobs completed and billed to customers.
Oct. 26 55 Truck Expense $1,440
22 Accounts Payable $1,440
To record the receipt of invoice for truck expenses.
Oct. 27 54 Utilities Expense $1,640
11 Cash $1,640
To record the payment of utilities expense.
Oct 27 59 Miscellaneous Expense $590
11 Cash $590
To record the payment of miscellaneous expense.
Oct. 29 11 Cash $6,560
12 Accounts Receivable $6,560
To record the receipt of cash from customers on account.
Oct. 30 51 Wages Expense $4,360
11 Cash $4,360
To record the payment of wages.
Oct. 31 33 Dividends $3,640
11 Cash $3,640
To record the payment of dividends to stockholders.
Explanation:
a) Data and Calculations:
Chart of accounts:
11 Cash
12 Accounts Receivable
13 Supplies
14 Prepaid Insurance
16 Equipment
18 Truck
21 Notes Payable
22 Accounts Payable
31 Common Stock
33 Dividends
41 Fees Earned
51 Wages Expense
53 Rent Expense
54 Utilities Expense
55 Truck Expense
59 Miscellaneous Expense
b) Journal entries are used to record business transactions as they occur on a daily basis. They show the accounts involved in each transaction and the ones to be debited and the ones to be credited as the case may be.
A company issued 8%, 15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell
Answer:
$119.60 million
Explanation:
The bond price formula provided below is very useful in determining the amount of money received from the bond investors when the bond were issued:
Bond price=face value/(1+r)^n+semiannual coupon*(1-(1+r)^-n/r
face value=$100 million
r=semiannual yield=6%*6/12=3%
n=number of semiannual coupon payments in 15 years=15*2=30
semiannual coupon=face value*coupon rate*6/12=$100million*8%*6/12=$4 million
bond price=$100/(1+3%)^30+$4*(1-(1+3%)^-30/3%
bond price=$100/(1.03)^30+$4*(1-(1.03)^-30/0.03
bond price=$100/2.42726247+$4*(1-0.41198676)/0.03
bond price=$100/2.42726247+$4*0.58801324/0.03
bond price=$41.20+$ 78.40=$119.60 million
On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of every fifth casting drilled during the evening shift. Less than 1% of the sampled castings were defective; so, Jack released the evening shift's production to assembly. This is an example of _______________.
Answer:
Inferential statistics
Explanation:
Here, every fifth casting drill during evening shift is selected to identify the defectiveness of the casting. That is, every drill is considered as the sample. It is clear that the inference about the population is made. That is, less than 1% of the casting was defective, hence, it is concluded that is an example of inferential statistics
Why couldn't your friends change the amount spent on education and family care?
Answer: is this a real question ???
Explanation:
Return to questionItem 4 Required information Skip to question Retained earnings at the beginning of the period was $300. During the period, Kilgore Company earned revenue of $1,100 and incurred expenses of $400. Assuming dividends paid to stockholders were $200, the ending balance in retained earnings must have been:
Answer:
$800
Explanation:
The first task here is to determine the amount of net income recognized in the year which is the earned revenue minus incurred expenses as shown thus:
net income=earned revenue-incurred expenses
earned revenue= $1,100
incurred expenses=$400
net income=$1,100-$400=$700
retained earnings for the period=net income-dividends paid
dividends paid=$200
retained earnings for the period=$700-$200=$500
ending balance of retained earnings=beginning retained earnings+retained earnings for the period
beginning retained earnings=$300
ending balance of retained earnings=$300+$500=$800
Sue views hot dogs (H) and hot dog buns (B) as perfect complements in her consumption, and the corners of her indifference curves follow the 45-degree line: H-B. Suppose the price of hot dogs is $5 per package (8 hot dogs), the price of buns is $3 per package (8 hot dog buns), and Sue's budget is $48 per month. What is her optimal choice under this scenario?
A. 6 packages of hot dogs and 6 packages of buns.
B. 6 packages of hot dogs and 8 packages of buns.
C. 8 packages of hot dogs and 8 packages of buns.
D. 8 packages of hot dogs and 6 packages of buns.
Answer:
A
Explanation:
a budget constraint is the total amount of goods and services an individual can buy given the price of the products and the income of the consumer.
Sue is constrained by her income. Thus, she must spend within $48
The equation for this is :
$5H + $3B = $48
where
H = hot dogs
B = Hot dog buns
(5 x 6 ) + (3 x 6 ) = $48
East Corp. manufactures stereo systems that carry a two-year warranty against defects. Based on past experience, warranty costs are estimated at 4% of sales for the warranty period. During 2005, stereo system sales totaled $3,000,000, and warranty costs of $67,500 were incurred. In its income statement for the year ended December 31, 2005, East should report warranty expense of:
Answer:
$52,500
Explanation:
The cost associated with repair or replacement of a product incase it foes not function after its purchase is termed warranty. It is debited to the warranty expense account and credited to warranty to the warranty liability account
Total sales for the year $3,000,000
Warranty estimated basis 4%
Estimated warranty = $3,000,000 × 4% = $120,000
Warranty cost incurred $67,500
Balance to be recorded for the year
= $120,000 - $67,500
= $52,500
19. What are conflicting responsibilities? Why do conflicts arise in professions?
Answer: being in the military
Explanation: reason is, because if your in the military you get to miss out on holidays , birthdays and even extra time with family and thats a big problem
