Business

Which of the following statements is consistent with the fact that capital in an economy is subject to diminishing returns? When workers already have a large quantity of capital, giving them an additional unit of capital will not increase productivity. When workers have a relatively small quantity of capital, giving them an additional unit of capital will not increase their productivity. When workers have a relatively large quantity of capital, giving them an additional unit of capital increases their productivity by a large amount. When workers have a relatively small quantity of capital, giving them an additional unit of capital increases their productivity by a relatively large amount.
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Cesar Ruiz was reviewing his company's activities at the end of the year (2017) and decided to prepare a retained earnings statement. At the beginning of the year his assets were $530,000, liabilities were $140,000, and common stock was $120,000. The net income for the year was $250,000. Dividends of $220,000 were paid during the year. Prepare a retained earnings statement in good form. (List items that increase retained earnings first.) CESAR RUIZ COMPANY Retained Earnings Statement $ : : $ Click if you would like to Show Work for this question: Open Show Work
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How does a command economy differ from a mixed market economy?A) In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.B) In a command economy, citizens have more property rights. In a mixed market economy, citizens have fewer property rights.C) In a command economy, citizens own all public property. In a mixed market economy, the government owns all private property.E) In a command economy, citizens own all private property. In a mixed market economy, the government owns all public propertyPLEASE READ!!! The answer is A) Correct on Edg 2020
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Presented below is information available for Concord Corporation. Current Assets Cash $ 4500 Short-term investments 50500 Accounts receivable 66000 Inventory 86000 Prepaid expenses 35000 Total current assets $ 242000 Total current liabilities are $50000. The acid-test ratio for Concord is:
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Which of the following is true of a stock dividend? Multiple Choice It is a liability on the balance sheet. The decision to declare a stock dividend resides with the shareholders. Transfers a portion of equity from retained earnings to a cash reserve account. Does not affect total equity, but transfer amounts between the components of equity. Reduces a corporation's assets and stockholders' equity.
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Darrins Auto Northern Division is currently purchasing a part from an outside supplier. The company's Southern Division, which has no excess capacity, makes and sells this part for external customers at a variable cost of $15 and a selling price of $27. If Southern begins sales to Northern, it (1) will use the general transfer-pricing rule and (2) will be able to reduce variable cost on internal transfers by $3. On the basis of this information, Southern would establish a transfer price of:
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A peer-review board for alternative dispute resolution usually consists of: A. an equal number of employee representatives and management appointees B. managers above the level of the supervisor whose decision is being appealed. C. employees at the same level as the appealing employee. D. managers, subordinates, and a number of unbiased third-party participants who do not work for the employer.
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In the month of March the Digby Corporation received and delivered orders of 189,000 units at a price of $15.00 for revenue of $2.835mil for their product Deal. Digby uses the accrual method of accounting and offers 30 day credit terms. By the end of May Digby had collected payments of $2.835mil for the March deliveries. How much of the collected $2.835mil should Digby show on the March 31st income statement and how much on the May 31st income statement?
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Flychucker Corporation is evaluating an extra dividend versus a share repurchase. In either case $19,000 would be spent. Current earnings are $1.40 per share, and the stock currently sells for $50 per share. There are 5,000 shares outstanding. Ignore taxes and other imperfections. a. Evaluate the two alternatives in terms of the effect on the price per share of the stock and shareholder wealth per share
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Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 3% of credit sales will be uncollectible. On January 1, the Allowance for Doubtful Accounts had a credit balance of $3,700. During the year, Abbott wrote-off accounts receivable totaling $2,700 and made credit sales of $118,000. After the adjusting entry, the December 31 balance in Bad Debt Expense would bea. $4,540 b. $3,540 c. $3,700 d. $7,240
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In 2016, the Allen Corporation had sales of $ 68 million, total assets of $ 50 million, and total liabilities of $ 18 million. The interest rate on the company's debt is 5.8 percent, and its tax rate is 35 percent. The operating profit margin is 13 percent. a. Compute the firm's 2016 net operating income and net income. b. Calculate the firm's operating return on assets and return on equity. (Hint: You can assume that interest must be paid on all of the firm's liabilities.) a. Compute the firm's 2016 net operating income and net income. The firm's 2016 net operating income is $ nothing million. (Round to two decimal places.)
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The pretax financial income (or loss) figures for Whispering Company are as follows. 2015 $164,000 2016 275,000 2017 86,000 2018 (164,000 ) 2019 (390,000 ) 2020 113,000 2021 98,000 Pretax financial income (or loss) and taxable income (loss) were the same for all years involved. Assume a 25% tax rate for 2015 and 2016 and a 20% tax rate for the remaining years. Prepare the journal entries for the years 2017 to 2021 to record income tax expense and the effects of the net operating loss carryforwards. All income and losses relate to normal operations. (In recording the benefits of a loss carryforward, assume that no valuation account is deemed necessary.)
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Tom, Dan and Phil work indifferent teams at Springfield Automotive. Tom's team ensures that all the raw materials, machinery, tools and other production equipment are available for the employees around the clock. Any procurement needs have to be addressed to Tom, who also takes part in high-level decisions regarding the number of units to produced, exported and so on. Dan works as part of a team of eight members who concentrate the day-to-day productions; they also ensure that the quality checks are done and inspect each other's work. Phil is the operations manager, who works for 5 hours in the production department and then spends the rest of his time assisting management as an internal consultant on manufacturing issues. His input is crucial in improving the production process. Dan's contribution is toward the __________.
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PC.54 Claire & Dee's Tire Factory in Rexburg provides a free tire-rotation service for customers who purchase tires from them. For years this process took an average employee about 20 minutes to perform. Since they make no additional revenue from this service, they would like to make this process as efficient (or productive) as possible. Recognizing this challenge, management and key employees analyzed the process and made some time-saving changes. Over the course of a month they trained all employees on the new process, and after doing so, an average employee could rotate a set of four tires in about 15 minutes.In this case, what is the output that should be used for productivity calculations?
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Donovan company incurred the following costs while producing 2000 units: Direct Materials, $15 per unit; direct labor, $5 per unit; variable manufacturing overhead, $12 per unit; variable selling and administrative costs, $14, per unit; total fixed overhead costs, $20,000; total fixed selling and administrative costs, $10,000. There are no beginning inventories. What is the unit productive cost using absorption costing? a. $32 per unit b. $42 per unit c. $52 per unit d. $61 per unit What is the unit product cost using variable costing? a. $32 per unit b. $44 per unit c. $46 per unit d. $61 per unit What is the operating income using absorption costing if 1800 units are sold for $100 each? a. $104,400 b. $96,000 c. $79,200 d. $69,200 What is the operating income using variable costing if 1900 units are sold for $100 each? a. $57,400 b. $72,600 c. $80,200 d. $102,600 *Formulas or explanations with each part of the problem.
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Kevin, Rajiv, and Yakov are hunters who live next to a recreational wildlife game area that is open to hunting; in other words, anyone is free to use the recreational wildlife game area for hunting. Assume that these men are the only three hunters who hunt in this recreational wildlife game area and that the recreational wildlife game area is large enough for all three hunters to hunt intensively at the same time.Each year, the hunters choose independently how often to hunt; specifically, they choose whether to hunt intensively (that is, to set several traps and hunt long hours, which hurts the sustainability of the recreational wildlife game area if enough people do it) or to hunt nonintensively (which does not hurt the sustainability of the recreational wildlife game area). None of them has the ability to control how much the others hunt, and each hunter cares only about his own profitability and not the state of the recreational wildlife game area.Assume that as long as no more than one hunter hunts intensively, there are enough animals to restock the recreational wildlife game area. However, if two or more hunt intensively, the recreational wildlife game area will become useless in the future. Of course, hunting intensively earns a hunter more money and greater profit because he can sell more animals.The recreational wildlife game area is an example of _____________ because the animals in the recreational wildlife game area are ________ and ___________.
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outline one impact that use if technology, such as contactless payment systems, could have on a restaurant
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How should you dress for a phone interview? (Site 1) online content
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Sheffield Corp. makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Budget for the last half of the year. The following budget data are available: Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions $0.60 $ 7000 Shipping 1.20 Advertising 0.30 Executive salaries 34000 Depreciation on office equipment 8000 Other 0.35 28000 Expenses are paid in the month incurred. If the company has budgeted to sell 7000 umbrellas in October, how much is the total budgeted variable selling and administrative expenses for October?
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Purdum Farms borrowed $16 million by signing a five-year note on December 31, 2017. Repayments of the principal are payable annually in installments of $3.2 million each. Purdum Farms makes the first payment on December 31, 2018 and then prepares its balance sheet. What amount will be reported as current and long-term liabilities, respectively, in connection with the note at December 31, 2018, after the first payment is made?
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The following data pertain to last year's operations at Tredder Corporation, a company that produces a single product: Units in beginning inventory 0 Units produced 20,000 Units sold 19,000 Selling price per unit $100.00 Variable costs per unit: Direct materials $12.00 Direct labor $25.00 Variable manufacturing overhead $3.00 Variable selling and administrative $2.00 Fixed expenses per year: Fixed manufacturing overhead $500,000 Fixed selling and administrative $600,000 What was the absorption costing net operating income last year?
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During 2017, Woods Company purchased 80,000 shares of Holmes Corporation common stock for $1,260,000 as an equity investment. The fair value of these shares was $1,200,000 at December 31, 2017. Woods sold all of the Holmes stock for $17 per share on December 3, 2018, incurring $56,000 in brokerage commissions. Required:1. Woods Company should report a realized gain on the sale of stock in 2018 of ____________.
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Exercise 8-14 Inventory cost flow methods; perpetual system [LO8-1, 8-4] Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018: Aug.1 Inventory on hand2,100 units; cost $6.20 each. 8 Purchased 10,500 units for $5.60 each. 14 Sold 8,400 units for $12.10 each. 18 Purchased 6,300 units for $5.40 each. 25 Sold 7,400 units for $11.10 each. 31 Inventory on hand3,100 units. Exercise 8-14 Part 1 Required: 1. Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the FIFO method. (Round "Cost per Unit" to 2 decimal places.)
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Problem 4-6 (Algo) Income statement presentation; Discontinued operations; EPS [LO4-1, 4-3, 4-4, 4-5] Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales revenue $ 24,000 Cost of goods sold $ 13,500 Interest revenue 220 Selling and administrative expense 3,100 Interest expense 420 Restructuring costs 1,400 In addition, during the year the company completed the disposal of its plastics business and incurred a loss from operations of $2.2 million and a gain on disposal of the components assets of $3.2 million. 600,000 shares of common stock were outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25% on all items of income (loss). Required: Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands except earnings per share. Round EPS answers to 2 decimal places.)
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