Wiley Hill opened Hill's Repairs, Inc. on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books:
1. Wiley invested $41,000 cash in the corporation.
2. Wiley contributed $116,000 of equipment to the corporation.
3. The company paid $3,600 cash to rent office space for the month.
4. The company received $32,000 cash for repair services provided during March.
5. The company paid $7,800 for salaries for the month.
6. The company provided $4,600 of services to customers on account.
7. The company paid cash of $2,100 for monthly utilities.
8. The company received $4,700 cash in advance of providing repair services to a customer.
9. The company paid $6,600 cash in dividends to Wiley. (sole shareholder)
Based on this information, the balance in Stockholders' Equity reported on the Balance Sheet at the end of March would be:
A. $178,200.
B. $173,500.
C. $165,300.
D. $6,800.
E. $29,500.

Answer: B. $173,500.

Explanation:

First calculate the Net income:

= Repair services + Services on account - Rent - Salaries - Utilities

= 32,000 + 4,600 - 3,600 - 7,800 - 2,100

= $23,100

Equity is:

= Cash investment + Equipment investment + Net income - Dividends

= 41,000 + 116,000 + 23,100 - 6,600

= $173,500

what is gompertz function​

Productivity Question 3 options: is nearly the same across countries, and so provides no help explaining differences in the standard of living across countries. explains very little of the differences in the standard of living across countries. explains some, but not most of the differences in the standard of living across countries. explains most of the differences in the standard of living across countries.

Bonita Industries purchased machinery for $1030000 on January 1, 2017. Straight-line depreciation has been recorded based on a $82000 salvage value and a 5-year useful life. The machinery was sold on May 1, 2021 at a gain of $27500. How much cash did Bonita receive from the sale of the machinery?
a. $138,000
b. $162,000
c. $198,000
d. $258,000

A farmer sells a bushel of corn to the supermarket for $12. The supermarket then sells the corn to customers for $25. What is the total contribution to GDP?

A company has an overhead application rate of 124% of direct labor costs. How much overhead would be allocated to a job if it required total labor costing $24,000?

You just returned from some extensive traveling.You started your trip with $10,000 in your pocket.You spent 1.32 million pesos in Chile where Ps1 = $.001642.You spent Ps36,000 in Uruguay where Ps1 = $.03526.Then on the way home,you spent Ps29,000 in Mexico where $1 = Ps18.8709.How many dollars did you have left by the time you returned to the U.S.?
A) $3,889.07
B) $4,001.84
C) $4,110.27
D) $5,026.44
E) $4,299.03

Mo will receive a perpetuity of $27,000 per year forever, while Curly will receive the same annual payment for the next 40 years. If the interest rate is 7.1 percent, how much more are Mo's payments worth

Should the firms' overseas operations be judged by the standards (legal, economic, cultural, and moral) of the country in which it is operating or should they be judged by the standards of the U.S. market?

Suppose Cold Goose Metal Works Inc. is evaluating a proposed capital budgeting project (project Beta) that will require an initial investment of $3,000,000. The project is expected to generate the following net cash flows:

Year Cash Flow
Year 1 $350,000
Year 2 $450,000
Year 3 $450,000
Year 4 $450,000

Cold Goose Metal Works Inc.'s weighted average cost of capital is 8%, and project Beta has the same risk as the firm's average project. Based on the cash flows, what is project Beta's NPV?

The following errors took place in journalizing and posting transactions:
a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.
b. The purchase of supplies of $2,500 on account was recorded as a debit to Office Equipment and a credit to Supplies.
Journalize the entries to correct the errors. Omit explanations.

You run a hospital with 100 rooms. Fixed daily cost is $935.00 which includes staff salary, property charges, maintenance etc. Variable cost per room is $10.00 which includes cleaning, equipment rentals, utility cost etc. which is incurred only when the room is full. You charge $77.00 per room per day. You sold 40.00 rooms today, how much profit/loss did you earn for today.

The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 200th gallon of gasoline entails the following:
• a private cost of $3.03;
• a social cost of $3.23;
• a value to consumers of $3.39.
Refer to Scenario 10-1. Suppose the equilibrium quantity of gasoline is 220 gallons; that is, Q MARKET = 220. Then the equilibrium price of a gallon could be:________
a. $3.08.
b.$2.77.
c. $2.45.
d. $3.69.

MC Qu. 117 Cosi Company uses a job order costing... Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incur $830,000 of overhead during the next period, and expects to use 53,000 labor hours at a cost of $10.00 per hour. What is Cosi Company's overhead application rate

Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning: (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.) 1. Pay $1,160,000 in cash immediately. 2. Pay $461,000 immediately and the remainder in 10 annual installments of $94,000, with the first installment due in one year. 3. Make 10 annual installments of $156,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,730,000 five years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at a 8% interest rate. (Round your final answers to nearest whole dollar amount.)

MC Qu. 116 CWN Company uses a job order costing... CWN Company uses a job order costing system and last period incurred $70,000 of actual overhead and $100,000 of direct labor. CWN estimates that its overhead next period will be $85,000. It also expects to incur $100,000 of direct labor. If CWN bases applied overhead on direct labor cost, its predetermined overhead rate for the next period should be:

It's time to buy pet food again and Lisa heads to the grocery store with $40 in her purse, leaving her four hungry dogs and seven hungry cats at home. Dog food costs $1 per can and cat food costs $0.50 per can. Lisa wants to minimize her pet food cost. What is an appropriate objective function for this scenario?

NetonBe makes sweaters, which traditionally involved the following steps: dyeing (i.e., into six different colors), knitting of the dyed fabric into three sizes each (small, medium, and large) and then distributing to the stores. As such, there were 18 different sweater color & size combinations in the end, each with a demand that is normally distributed with a mean of 1,000 and a standard deviation of 100. NetonBe has just developed a new system that allows them to knit a generic color sweater first, and then dyeing this generic sweater. As such, they only need to hold safety inventory for the three sizes, each with an average demand of 6,000. What would be the standard deviation in demand for each of these three generic sweaters?
a) Approximately 600
b) Approximately 300
c) Approximately 245
d) Approximately 60

This morning you purchased one share of stock for $14. The stock pays $.20 per share each quarter as a dividend. What must the stock price be one year from now if you want to earn a total return of 12 percent for the year

Prepare the Statement of Retained Earnings from the Adjusted Trial Balance and Income Statement. Within each section of the statement,
SMART TOUCH LEARNING
Adjusted Trial Balance
December 31, 2016
Account Title
Debit Credit
Cash 19500
Accounts recievable 10800
Office Supplies 200
Prepaid Rent 13,000
Furniture 22,800
Accumulated Depreciation--Furniture 7800
Accounts Payable 2600
Salaries Payable 600
Interest Payable 300
Unearned Revenue 6,500
Notes Payable 9,100
Common Stock 12,700
Retained Earnings 13,000
Dividends 33,100
Service Revenue 59,100
Depreciation Expense-Furniture 2600
Interest Expense 300
Rent Expense 3900
Salaries Expense 4500
Supplies Expense 1000
Total 111,700 111,700
SMART TOUCH LEARNING
Income Statement
Month Ended December 31, 2016 Balance
Revenue
Service revenue 59100
ExpensesDepreciation Expense-Furniture 2600
Interest Expense 300
Rent Expense 3900
Salaries Expense 4500
Supplies Expense 1000
Total expense 12300
Net income 46800

Expando, Inc., is considering the possibility of building an additional factory that would produce a new addition to its product line. The company is currently considering two options. The first is a small facility that it could build at a cost of $7 million. If demand for new products is low, the company expects to receive $9 million in discounted revenues (present value of future revenues) with the small facility. On the other hand, if demand is high, it expects $14 million in discounted revenues using the small facility. The second option is to build a large factory at a cost of $8 million. Were demand to be low, the company would expect $9 million in discounted revenues with the large plant. If demand is high, the company estimates that the discounted revenues would be $13 million. In either case, the probability of demand being high is .30, and the probability of it being low is .70. Not constructing a new factory would result in no additional revenue being generated because the current factories cannot produce these new products.

1. Calculate the NPV for the following:

Plans NPV
Small facility $million
Do nothing million
Large facility million

2. The best decision to help Expando is:_________

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours 30,900 Total fixed manufacturing overhead cost $ 154,500 Variable manufacturing overhead per machine-hour $ 3
Recently, Job T687 was completed with the following characteristics:
Number of units in the job 10 Total machine-hours 30 rect materials $740 Direct labor cost $1,480
The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
a. $240.00
b. $154.50
c. $48.00
d. $338.40

Glen Pool Club, Inc., has a $150,000 mortgage liabilty. The mortgage is payable in monthly installments of $1,543 , which include interest computed at an annual rate of 12 percent (1 percent monthly). Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in the mortgage`s unpaid balance. Prepare the journal entry to record the second monthly paymment. Will monthly interest increase, decrease or stay the same over the life of the loan? Explain.

Assume the following information: Selling price per unit $200 Contribution margin ratio 50% Total fixed costs $275,000 How many units must be sold to generate a profit of $50,000

What is the role of a consumer in the economy nation

What is the fundamental accounting equation?

If you could invent something what would it be

The Cavy Company accumulated
560 hours of direct labor on Job 345
800 hours of direct labor on Job 777
The direct labor incurred at a rate of:
$20 per direct labor hour for Job 345
$21 per direct labor hour for Job 777
Journalize the entry and record the flow of labor costs in production.

Adventure Travel signed a 14%, 10-year note for $151,000. The company paid an installment of $2100 for the first month. After the first payment, what is the principal balance

An American worker is hired by a German consulting firm operating in New York. They pay him $50,000 in wages. The new worker's contribution is to bring a new client to the firm that buys consulting services for $70,000 . Assume no other new cost was involved in this other than the wage. The client is a Mexican firm located in Mexico City. Which of the following is correct

a. National income increases by $50,000 and factor payments to abroad increase by $20,000, so US GDP increases by $70,000
b. Consumption increases by $70,000 and imports increase by $70,000,50 US GDP remains unchanged
c. Consumption increases by $50,000 and exports increase by $20,000, so US GDP increases by $70,000
d. National income increases by $50,000 and factor payments from abroad increase by $50,000, so US GDP remains unchanged

any traditional costing systems: Multiple Choice write off manufacturing overhead as an expense of the current period. combine widely varying elements of overhead into a single cost pool. produce results far superior to those achieved with activity-based costing. use a host of different cost drivers (e.g., number of production setups, inspection hours, orders processed) to improve the accuracy of product costing. trace manufacturing overhead to individual activities and require the development of numerous activity-costing rates.