Answer:
a. The Singapore dollar to Australian dollar cross rate is (SGD = 1.00 AUD) 1.0278.
b. The number of Australian dollars Anne will get is 1,070.25 Australian dollars.
Explanation:
a. What is the Singapore dollar to Australian dollar cross rate?
Given:
Spot rate (SGD = 1.00 USD) 1.3443
Spot rate (USD = 1.00 AUD) 0.7646
These imply that:
1.3443 SGD = 1.00 USD ..................... (1)
0.7646 USD = 1.00 AUD ................... (2)
From equation (2), we divide through by 0.7646 to have:
0.7646 / 0.7646 USD = 1.00 / 0.7646 AUD
1.00 USD = 1.3079 AUD
Substituting this into equation (1) and solve as follows:
1.3443 SGD = 1.00 USD = 1.3079 AUD
Dropping 1.00 USD, we have:
1.3443 SGD = 1.3079 AUD
Dividing through by 1.3079, we have:
1.3443 / 1.3079 SGD = 1.3079 / 1.3079 AUD
1.0278 SGD = 1.00 AUD
Therefore, the Singapore dollar to Australian dollar cross rate is (SGD = 1.00 AUD) 1.0278.
b. How many Australian dollars will Anne get for her Singapore dollars?
This can be calculated as follows:
Number of Australian dollars Anne will get = Amount of Singapore dollars Anne wishes to exchange for Australian dollars / Singapore dollar to Australian dollar cross rate = 1,100 / 1.0278 = 1,070.24712979179 Australian dollars
Rounding to two decimal places as required, we have:
Number of Australian dollars Anne will get = 1,070.25 Australian dollars
Therefore, the number of Australian dollars Anne will get is 1,070.25 Australian dollars.
Based on the spot rates between the three nations, the following is true:
The Singapore dollar to Australia dollar is 1.02785178 Singapore Dollars. Anne Dietz will get AUD 1,070.19.To find the cross rate, you should multiply the Singapore dollar to USD rate with the USD to Australian dollar rate:
= 1.3443 x 0.7646
= 1.02785178 Singapore Dollars
The amount that Anne would get for 1,100 SGD is:
= 1,100 / 1.02785178
= AUD 1,070.19
In conclusion, Anne would get AUD 1,070.19.
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Bombeck Inc. has the following transactions during August of the current year. Aug. 1 Opens an office as a financial advisor, investing $5,000 in cash in exchange for common stock. 4 Pays insurance in advance for 6 months, $1,800 cash. 16 Receives $1,900 from clients for services performed. 27 Pays secretary $1,000 salary. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer:
Date Account title and explanation Debit Credit
Aug.1 Cash $5,000
Common stock $5,000
[To record cash in exchange for common stock]
Aug.4 Prepaid insurance $1,800
Cash $1,800
[To record paid insurance in advance]
Aug.16 Cash $1,900
Service revenue $1,900
[To record cash received for services]
Aug.27 Salaries expense $1,000
Cash $1,000
[To record cash paid for salaries]
You borrow $6,230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment?a. $115.26b. $88.74c. $113.78d. $120.44e. $89.29
Answer:
orrow $6230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interes… ... of interest of 6 percent.
Explanation:
Gelb Company currently manufactures 56,500 units per year of a key component for its manufacturing process. Variable costs are $4.05 per unit, fixed costs related to making this component are $85,000 per year, and allocated fixed costs are $78,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.50 per unit. Calculate the total incremental cost of making 56,500 units and buying 56,500 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier
Answer:
Incremental Costs to Make
Variable Cost Per Unit = $4.05 = 56,500 units*$4.05 = $228,825
Fixed Manufacturing Costs = $85,000
Total Incremental Costs to Make $313,825
Incremental Costs to Buy
Purchase Price Per Unit = $3.50 = 56,500 unit*$3.50 = $197,750
Total Incremental Cost to Buy = $197,750
The company should buy the component from outside supplier as it results in a lower total incremental cost of $197,750
Mechem Corporation produces and sells a single product. In April, the company sold 2,000 units. Its total sales were $151,000, its total variable expenses were $79,700, and its total fixed expenses were $56,600. Required: a. Construct the company's contribution format income statement for April. (Do not round intermediate calculations.) b. Redo the company's contribution format income statement assuming that the company sells 1,900 units. (Do not round intermediate calculations.)
Answer:
See below
Explanation:
Sales
$151,000
Less:
Variable cost
($79,700)
Contribution margin
$71,300
Less:
Fixed cost
($56,600)
Ney profit
discuss the different situations when the communication exists
Answer:
Communication in Different situations.
1. Communications in different situations Chapter 8
2. The different kind ofcommunication skill is required as per the situation and the functions of the organizations.Communication takes on different characteristics as the situation changes Chapter 8
3. Oral Communication Situations Face-to face InterviewCommunication Telephone
Communication can be divided into three categories: verbal communication, which involves listening to someone to understand what they mean; written communication, which involves reading what they mean; and nonverbal communication, which involves observing someone and drawing conclusions about what they are trying to say.
Why is it important to understand the communication process?Understanding the communication process is crucial for successful and efficient communication. It consistently directs us toward understanding successful communication. Every person who adheres to the communication process will have the chance to be successful in all facets of their work.
Any type of situation where communication is occurring is referred to as a communicative situation; examples include discussions, text in all forms, radio, and film. Any situation where communication is taking place. There is communication, for instance during a conversation.
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Current Attempt in Progress
Shown below are comparative balance sheets for Buffalo Industries.
Buffalo Industries Comparative Balance Sheets December 31
Assets 2022 2021
Cash $ 183,600 $59.400
Accounts receivable 237,600 205,200
Inventory 450,900 10,300
Land 216,000 270,000
Equipment 702,000 540,000
Accumulated depreciation-equipment (178,200) (86,400)
Total $1,611,900 $1.498,500
Liabilities and Stockholders' Equity
Accounts payable $ 105,300 $ 116,100
Bonds payable 405,000 540,000
Common stock ($1 par) 583,200 469,800
Retained earnings 518,400 372,600
Total $1,611,900 $1498.500
Additional Information
1. Net income for 2022 was $251,100.
2. Depreciation expense was $91,800.
3. Cash dividends of $105,300 were declared and paid.
4. Bonds payable amounting to $135,000 were redeemed for cash $135,000
5. Common stock was issued for $113,400 cash
6. No equipment was sold during 2022
7. Land was sold for its book value.
Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with either d ignes. -45,000 Buffalo Industries Statement of Cash Flows Adjustments to reconcile
Answer:
Net Increase in cash = $124,200
Explanation:
Note: The correct value for Year 2021 inventory is $510,300 not $10,300.
Also note: See the attached excel file for the statement of cash flows for 2022.
In the attached excel file, the following workings are used:
Workings:
w.1: Increase in accounts receivable = Account receivable in 2022 - Account receivable in 2021 = $237,600 - $205,200 = $32,400
w.2: Decrease in inventory = Inventory in 2022 - Inventory in 2021 = $450,900 - $510,300 = -$59,400
w.3: Decrease in accounts payable = Accounts receivable 2022 - Accounts receivable 2021 = $105,300 - $116,100 = -$10,800
w.4: Disposal of land = Land in 2021 - Land in 2022 = $270,000 - $216,000 = $54,000
w.5: Purchase of equipment = Equipment in 2022 - Equipment in 2021 = $702,000 - $540,000 = $162,000
Use the information for the question(s) below.Food For Less (FFL), a grocery store, is considering offering one hour photo developing in their store. The firm expects that sales from the new one-hour machine will be $150,000 per year. FFL currently offers overnight film processing with annual sales of $100,000. While many of the one-hour photo sales will be to new customers, FFL estimates that 60% of their current overnight photo customers will switch and use the one-hour service.The level of incremental sales associated with introducing the new one-hour photo service is closest to:
Answer:
$90,000
Explanation:
Calculation for what the level of incremental sales associated with introducing the new one-hour photo service is closest to:
Using the formula
Incremental Sales Asscoiated with new service = Firm Expected Sales - (Annual Sales * Percentage of Sales)
Let plug in the formula
Incremental Sales Asscoiated with new service= $150,000 - ($100,000 × 60%)
Incremental Sales Asscoiated with new service= $150,000 - $60,000
Incremental Sales Asscoiated with new service= $90,000
Therefore the level of incremental sales associated with introducing the new one-hour photo service is closest to:$90,000
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2020, the first month of operation. Production: 7,100 units finished and transferred out; 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $40,400; labor $20,600; overhead $39,460. Prepare a production cost report.
QUIK FURNITURE COMPANY
Sanding Department
Production Cost Report
For the Month Ended March 31, 2017
Equivalent Units
Quantities Physical Units Materials Conversion Costs
Units to be accounted for
Work in process, March 1 0
Started into production 10,000
Total units 10,000
Units accounted for
Transferred out 3,000 3,000
Work in process, March 31 4,000 4,000
Total units 7,000 7,000
Question Completion:
Units finished and transferred is 7,000 units.
Answer:
Quik Furniture Company
QUIK FURNITURE COMPANY
Sanding Department
Production Cost Report
For the Month Ended March 31, 2017
Equivalent Units:
Quantities Physical Units Materials Conversion Costs
Units to be accounted for
Work in process, March 1 0
Started into production 10,000 $40,400 $60,060
Total units 10,000
Units accounted for
Transferred out 7,000 7,000 7,000
Work in process, March 31 3,000 3,000 600
Total equivalent units 10,000 10,000 7,600
Cost per equivalent unit $4.04 $79.03
Cost Assigned to: Materials Conversion Total Costs
Units Transferred out $28,280 $553,210 $581,490
($4.04 * 7,000) ($79.03 * 7,000)
Ending WIP $12,120 $237,090 $249,210
($4.04 * 3,000) ($79.03 * 3,000)
Total $40,400 $790,300 $830,700
Explanation:
Quick Furniture's production report summarizes the major four steps (calculating the total costs for materials and conversion, the equivalent units, the cost per equivalent unit, and the total costs assigned to units transferred out and the WIP) that are usually performed to assign production costs to the units transferred out of the production department and the units that are still in work-in-process (WIP) at the end of the report period.
A company that produces a single product had a net operating income of $76,000 using variable costing and a net operating income of $96,910 using absorption costing. Total fixed manufacturing overhead was $51,510 and production was 10,100 units. This year was the first year of operations. Between the beginning and the end of the year, the inventory level:_________
Answer:
$5,000
Explanation:
Between the beginning and the end of the year, the inventory level is $5,000
What is one tax form you should complete differently if you've got more than one job?
Answer: W-4 withholding
Explanation:
The tax form you should complete differently if you've got more than one job is the W-4 withholdings.
It should be noted that wwjn an individual has a change in income, multiple jobs, or in a scenario wherebynthe person has a new job, it is important for one to revisit the W-4 withholdings.
When this is done, a new Form W-4 should be filled so that ones employer willxbe able to know the amount to withhold as tax from the person's paycheck.
You have a job at a real-estate agency in the small country of Dystopia, where you are paid 72,000 marks (the currency of Dystopia) a year. You are now faced with the decision of whether to work a second job at the local university teaching a real-estate investing class, where the pay is 45,000 marks a year. Social insurance tax and income tax rates are listed below.
Social insurance taxes: 7.65% on your first 110,100 marks of total income
Income taxes:
Taxable income (in marks) Tax rate
0–8,700 10%
8,700–35,350 15%
35,350–85,650 25%
85,650–178,650 28%
a.) Using the information above, what would be the total amount you pay in social insurance taxes on your second job? Give your answer to two decimals.
b.) What is your income tax bill for the second job? Give your answer to two decimals.
c.) What is your total tax bill for the new job? Give your answer to two decimals.
Answer:
2,914.65
2nd question : 12,190.50
Explanation:
income to be taxed is equal to (110,100 - 72,000) = 38,100 conchs. The tax itself is 7.65% × 38,100 = 2,914.65
2nd explaination: 25% × (85,650 - 72,000) = 25% × 13,650 = 3,412.50 conchs
28% × (45,000 - 13,650) = 28% × 31,350 = 8,778
Total income tax = 3,412.50 + 8,778 = 12,190.50 .
"Income to be taxed is equal to = 2,914.65 and The Total income tax is = 12,190.50. Find more information check below".
Calculation of Income TaxPart-1: income to be taxed is equal to (110,100 - 72,000) = 38,100 conchs.
Therefore, The tax itself is 7.65% × 38,100 is = 2,914.65
Part-2: 25% × (85,650 - 72,000) = 25% × 13,650 = 3,412.50 conchs
Then, 28% × (45,000 - 13,650) = 28% × 31,350 = 8,778
Therefore, The Total income tax is = 3,412.50 + 8,778 = 12,190.50.
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five difference between market and entrepreneurship
Answer:
Entrepreneurship refers to the concept of managing a business in order to make profit while taking various risk. while Market is a place where the trading of goods and money is happening.
Entrepreneurship is the concept of running a business in order to profit while incurring numerous risks. The market is a location where things and money are traded.
What is entrepreneurship?
The term “entrepreneurship” refers to the person who launches a new business at their own risk and profit basis. The starting up of a new business with a new idea and logic is called entrepreneurship. The entrepreneur's main motive is to set up a business to generate employment.
The main difference between of the entrepreneurship and the market. The entrepreneurship refers to the new business are the started as the profit earning basis. There is the market was the based on the exchange, the commodities are the demand and the supply based.
As a result, the difference between the entrepreneurship and the market.
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The information below pertains to Teal Company for 2021.
Net income for the year $1,150,000
6% convertible bonds issued at par ($1,000 per bond); each bond is convertible into 30 shares of common stock 2,040,000
6% convertible, cumulative preferred stock,
$100 par value; each share is convertible into 3 shares of common stock 4,130,000
Common stock, $10 par value 6,030,000
Tax rate for 2021 20%
Average market price of common stock $25 per share
There were no changes during 2021 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 73,600 shares of common stock at $20 per share.
Instructions
(a) Compute basic earnings per share for 2021.
(b) Compute diluted earnings per share for 2021.
Answer:
a. Basic EPS = (Net Income - Preferred dividend) / Number of shares for common stock
Basic EPS = ($1,150,000 - (4,130,000*6%) / (6,030,000/$10)
Basic EPS = ($1,150,000 - $247,800) / 603,000
Basic EPS = $902,200 / 603,000
Basic EPS = $1.50
b. Diluted EPS = (Net Income - Preferred dividend) + Interest savings (net of tax) / (Average common shares + Potentially diluted common shares)
Diluted EPS = ($1,150,000 - (4,130,000*6%) + (2,040,000*6%*(1-0.2) / (6,030,000/$10) + (2,040,000/1000 * 30) + (25-20/25 * 73,600)
Diluted EPS = $902200 + $97920 / 603,000 + 61,200 + 14,720
Diluted EPS = $1,000,120 / 678,920
Diluted EPS = $1.47
If cash is received from customers in payment for services that have not yet been performed, the business would record the cash receipt as: Multiple Choice A debit to an unearned revenue account. A debit to a prepaid expense account. A credit to an unearned revenue account. A credit to a prepaid expense account. A credit to accounts payable.
Answer:
A credit to an unearned revenue account
Explanation:
Ordinarily, when cash is received from a person whereas service has not been performed, the accounting entry is to debit cash account and credit the unearned revenue account.
Here, the receipt of cash means that revenue was realized however, the service expected have not been performed hence necessitated crediting the unearned revenue account and a debit to the asset cash for the amount received.
Busfield Company manufactures customized desks. The following pertains to Job No. 825: Direct materials used $25,500 Direct labor hours worked 450 Direct labor rate per hour $30.00 Machine hours used 500 Applied factory overhead rate per machine hour $15.00 What is the total manufacturing cost for Job No. 825
Answer:
$46,500
Explanation:
The computation of the total manufacturing cost is shown below:
As we know that
Manufacturing cost = Direct material + Direct labor + Overhead
= Direct material + (Number of Labor hours × Direct labor cost per hour ) + (Number of machine hours × rate per Machine hour )
= $25,500 + 450 × $30 + 500 × $15
= $46,500
How does risk management change when an organization ‘goes global?’
There a 6 key risk factors when an organization goes global, these are:
1. Size market potential granularly based on local economics. The most common mistake is overestimating a particular market’s potential, based on your domestic context. Foreign markets typically have less information available and more variability in sales estimates, which is a setup for failure. Do more local homework and validate cautiously.
2. Assume large and frequent economic swings. The inability to accurately predict or prepare for sudden changes in the local economic environment creates risks for the markets you know, but can wreak havoc for global initiatives. These economies are often ill-prepared to deal with economic shocks. Double the risk may mean half the opportunity.
3. Currency exchange fluctuations can wipe out gains. The potential for large currency swings may change the way you need to manage transactions, specify contract terms, and project futures. Smart entrepreneurs have learned to lock in exchange rates, collect on transactions immediately, and pay indigenous organizations to hedge the risks.
4. Factor in basic infrastructure quality and services. The cost of doing business in any market is heavily dependent on local transportation, energy, technology, and financial services. These components can totally change your customer value proposition, or the business model that you have honed. Re-validate your business model in every market.
5. Evaluate the political climate and operational processes. Uber and Airbnb are current examples of entrepreneurial efforts that are struggling with government regulations in new markets. It pays to research markets proactively, and engage local experts to negotiate a path early, rather than reactively dealing with fines and tarnished reputations.
6. Honor cultural sensitivities and assumptions. Cultural traditions often dictate business roles, procedures, and customer expectations. The local culture affects not only the decisions an entrepreneur must make, but also how a market views the company. The best strategy is to engage people in the local market to manage your business there.
Management is a separate and different disciple than leadership.
Answer:
One of the main differences between management and leadership is the way in which the two disciplines motivate people and teams to achieve objectives. Managers rely on their authority to get work done. Leaders, on the other hand, influence, inspire and appeal to people at an individual level.
Explanation:
:)
Garcia Industries has sales of $176,500 and accounts receivable of $18,500. Assume all sales to be on credit. The industry average DSO is 27 days, based on a 365-day year. If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the industry average, and if it earns 3.0% on any cash freed-up by this change, assuming other things are held constant, by how much would the net income be affected?
Answer:
$163.32
Explanation:
Days Sales Outstanding = 365 * Accounts receivable / Sales
If the Days Sales Outstanding falls to the industry average:
27 = 365 * Accounts receivable / $176,500
27 * $176,500 = 365 * Accounts receivable
Accounts receivable = 27 * $176,500 / 365
Accounts receivable = $13,056.16
Increase in net income = Decrease in accounts receivable * 3%
Increase in net income = ($18,500 - $13,056.16) * 3%
Increase in net income = $5,443.84 * 3%
Increase in net income = $163.3152
Increase in net income = $163.32
On February 1, 2021, the Xilon Corporation issued 47,000 shares of its no-par common stock in exchange for five acres of land located in the city of Monrovia. On the date of the acquisition, Xilon's common stock had a fair value of $16 per share. An office building was constructed on the site by an independent contractor. The building was completed on November 2, 2021, at a cost of $6,800,000. Xilon paid $4,400,000 in cash and the remainder was paid by the city of Monrovia.
Assuming that Xilon prepares its financial statements according to International Financial Reporting Standards, select all the correct alternatives the company has for recording the acquisition of the office building.
a. Same treatment as GAAP.
b. Deduct the amount of the grant in determining the initial cost of the office building.
c. Record the grant as a liability, deferred income, in the balance sheet and recognize it in the income statement systematically over the office building's useful life.
Answer:
a. Same treatment as GAAP.
Explanation:
the journal entry should be:
Dr Land 752,000
Dr Building 6,800,000
Cr Common stock 752,000
Cr Cash 4,400,000
Cr Donation revenue 2,400,000
the donation is not a deferred liability, nor the basis of the building be reduced by it.
explain the 5 methods used to measures national income
Answer:
National income can be measured through three different methods. The methods are as follows:
1. Product method
In this method National income is determined by the market value of all the final goods and services produced within a nation during a fixed time period.( The goods and Services does not include intermediate goods.)
2. Expenditure method
Under this method the national Income is determined by the total spending on final goods and services which are produced within a nation in a fixed time period.
3. Income method
As the name suggests , national Income under this method is calculated by adding the incomes received by producers.
Explanation:
:)
Leading is more important for the highest-level manager than planning
What is the purpose of professional communication?
Answer:
By mastering professional communication, the potential for misunderstandings occurring can be minimised. When you work in a team, you need to be able to regularly communicate with others. You need to listen to other people's ideas, whilst being able to clearly and effectively communicate your own.
Purposes:
The five purposes for communication are to inform, imagine, influence, meet social expectations and express feelings.
The purpose of professional communication is to convey information and ideas effectively and appropriately in a business or work setting, with the goal of achieving specific objectives and building positive relationships. It involves clear and concise expression, active listening, and the use of appropriate language and tone.
What is the professional communication?Professional communication is the exchange of information and ideas in a business or work setting, typically between colleagues, clients, customers, or other stakeholders.
It involves using appropriate language, tone, and nonverbal cues to convey messages effectively and achieve specific goals, such as building relationships, solving problems, making decisions, or completing tasks.
Professional communication can take many forms, including oral presentations, written reports, emails, memos, video conferences, and more, and it is an essential skill for success in many careers and industries.
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Sylvia believes and tries to follow the principle that considers the welfare and risks of all parties when considering policy decisions and outcomes. She really tries incorporating a humane consideration of and for individuals and groups when deciding a course of action. Sylvia follows which of these ethical principles?
Answer:
Beneficince
Explanation:
There are 4 ethical principles: autonomous, beneficince, justice, and nonmalefecience.
Beneficence is the principle that considers two main concepts.
Benefits that all parties stand to gain and the balancing of risk and harm to all parties.
Focus is on protecting rights of others, prevention of harm, and rescue of persons in danger.
In the given scenario Sylvia considers the welfare and risks of all parties when considering policy decisions and outcomes. This in accordance with principle of beneficiance.
A large technology Company decides to create an entrepreneurship friendly space, where small enterprises can operate in close proximity to one another. To create this space, which will be called Zone Forty-Two, the Company will construct office space, which will be rented to tenants for free. The Company is considering two start-up firms, B Enterprises (a business software producer) and M Enterprises (a medical software producer). Both firms are currently located in different small towns of California, where they work out of their homes hence pay no rent. The sales volume for a firm if it locates at Zone Forty-Two depends on whether the other firm is also present. These sales volumes, along with the firms’ sales at their current home locations, are presented in Table 1.
table 1 home- town locations zone forty-two(alone) zone forty-two(with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
Give an intuitive explanation why the sales figures are in the last column of Table 1 differ from the first two columns of the table. Hint: Elaborate on different types of economies that are likely to benefit firms locating next to each other in Zone Forty-Two.
Answer:
Zone-Forty-Two
Types of Economies Benefiting Firms Locating Next to Each Other:
Basically, internal and external economies of scale result from firms locating next to one another. While internal economies of scale are specific to a firm because they are internally generated savings, external economies of scale bring about larger changes outside the firm so that all the firms that are located next to one another benefit.
For example, when firms locate next to each other, there is increased procurement management, availability of specialized managers, availability of financial sources, and market improvement. These are internally-focused economies.
On the other hand, the external benefits that come from agglomeration of firms include the availability of common infrastructure, supply chain, innovation and ideas, and ability to lobby the authorities.
As a result of these economies or benefits, firms b and m enterprises are able to generate more increased sales as they locate close to each other at Zone Forty-Two than they could generate while they were located at their home-towns or alone at Zone Forty-Two.
Explanation:
a) Data and Calculations:
Firms' Sales
Firms Hometown Zone forty-two Zone forty-two
locations (alone) (with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
These economies resulting from proximate locations of firms include the growth of technical, marketing, commercial, financial benefits, and some network effects. Therefore, it is always interesting to study how firms grow more as they compete and learn from one another than they do when they dominate their individual hometown markets.
Smolira Golf has 11,000 shares of common stock outstanding, and the market price for a share of stock at the end of 2019 was $82.
Required:
What is the price-earnings ratio?
Answer:
25.23 times
Explanation:
PE ratio = Price per share /Earnings per share
Price per share = $82
Earnings per share (EPS)= net income/ shares of common stock
Net Income = 35,753
EPS = 35753/11000 = 3.25
PE Ratio = 82/3.25 = 25.23 Times
Halle's Berry Farm establishes a $350 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month. At the end of September, the fund contains $278 in cash. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:
Office party decorations (petty cash) 72
Lawn maintenance (credit card 102
Fuel for delivery (credit card) 67
Postage (credit card) 57
Required:
Record the establishment of the petty cash fund on September 4, all expenditures made during the month, and the replenishment of the petty cash fund on September 30. The credit card balance is not yet paid.
Answer:
1. September 04
Dr Petty Cash $350
Cash $350
2. September 30
Dr Repairs and Maintenance expense $102
Dr Postage expense $57
Dr Delivery expense $67
Cr Accounts payable $226
3. September 30
Dr Entertainment expense $72
Cr Petty Cash $72
Explanation:
1. Preparation of the journal entry to Record the establishment of the petty cash fund on September 4
September 04
Dr Petty Cash $350
Cash $350
(Being To record the establishment of petty cash fund)
2. Preparation of the journal entry to record all expenditures made during the month
September 30
Dr Repairs and Maintenance expense $102
Dr Postage expense $57
Dr Delivery expense $67
Cr Accounts payable $226
($102+$57+$67)
(Being to record all expenditures made )
3. Preparation of the journal entry to record the replenishment of the petty cash fund on September 30
September 30
Dr Entertainment expense $72
Cr Petty Cash $72
(Being to record the replenishment of the petty cash fund)
Jill is a student at Fresno State University who recently got her first F. Now she has to make a decision about how to get her grades back up. Having recently taken a class on decision making, Jill decides to follow the six-step process for deciding what to do. What problem is Jill most likely to face during the diagnosis and analysis of causes step in the decision-making process?
a. Not having the time to take all of the steps outlined in her plan.
b. Neglecting to gather information on whether or not the plan was successful.
c. Satisficing, or choosing the first solution that works, not the best solution.
d. Jumping to solutions before understanding the problem
Answer:
d. Jumping to solutions before understanding the problem
Explanation:
The six steps of problem solving include the following:
- Problem identification and definition
- Look at possible solutions (diagnosis and analysis of cause)
- Evaluate alternatives
- Decide on solution to use
- Implement solution
- Evaluate the outcome
In the diagnosis and analysis phase there is consideration of what the underlying cause of the problem is. There is less focus on the quality of solutions considered at this stage. Rather we get a general set of solutions to solve the problem.
At this stage Jill will have the challenge of Jumping to solutions before understanding the problem.
At this stage it is very important to understand the problem and how it came about.
You project revenue to start at $5,000 for the first month and grow by $200 each month thereafter. You project expenses to begin at $7,000 per month and grow by $50 per month. In what month will you break even (revenue equal to expenses)?
Answer: 14
Explanation: i took the quiz
In the 13th month will you break even (revenue equal to expenses).
What is revenue?Revenue is the entire amount of money made through the sale of products and services that are essential to the business's core competencies. Sale or turnover are other terms used to describe advertising revenues.
To make two equations equivalent, we must write them down.
The first one will appear as follows:
200x + 5,000
The x will match the 200 since after the initial $5,000, the program's revenue increases by $200 per month.
The second equation will have the following form:
50x + 7,000
The x will follow the 50 because the project starts out at $7,000 and expands by $50 every month.
Set both now identical to one another.
200x + 5,000 = 50x + 7,000
150x + 5,000 = 7,000
150x = 2,000
x = 13.333
The project therefore will reach breakeven in the 13th month.
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The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,000 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Assume that subsequent to your adjustment the expected selling price increases to $13,000 (all the rest of the facts are the same). What adjustment to inventory should be made under IAS 2 after this event
Answer:
Inventory should be increased by $3,500
Explanation:
Calculation for What adjustment to inventory should be made under IAS 2 after this event
Adjustment to inventory under IAS 2= 13,000 - 9,000- 500
Adjustment to inventory under IAS 2 = $3,500 Increased
Based on the above calculation the adjustment to inventory that should be made under IAS 2 after this event is that Inventory should be increased by $3,500.
Introduction: In the greater Seattle-Tacoma area, an arms race continues between hospitals to gather the most modern technology available to use on their patients - currently this arms race's primary device of choice-robotic surgical systems. Why robotic surgical systems? These systems in theory allow surgeons to be more precise in performing complex surgical procedures on patients. With greater precision comes a greater chance of successfully healing the patient as well as reducing the patient's possibility for complications and recovery time. In addition to these benefits, hospitals through the use of superior technology can serve more patients and potentially reap greater benefits from insurance companies and patients for these advanced medical services The price of this superior care though comes at a cost to the patient increased charges) as well as purchase costs to the hospital. One of the most popular robotic systems is called da Vinci and is manufactured and sold by Intuitive Surgical (http://www.intuitivesurgical.com/). The da Vinci was FDA approved in July 2000 and can currently perform urologic, gynecologic, colorectal, head and neck, cardiothoracic, and other general surgery procedures. As important as the device is the surgeon that is trained in the use of the system. The more repetitions on the robotic system, the more skillful the surgeon becomes Depending on the options that a hospital chooses to purchase, the cost of a da Vinci system can range between 1 million and 3 million dollars with the associated sales taxes. As with all surgical instruments, there are also disposable items needed during a surgery associated with equipment-specifically the da Vinci which must also be purchased. These items range from $1,000 to $3,000. Finally, as with many pieces of sophisticated electronic technology. It must be $200.000 a year. In addition to these specific costs on that this equipment occupies as well as utilize all the must be m ined The maintenance costs can be upwards to addition to these specific cost hospitals must continue to maintain the surgical men occupies as well as utilize all other supplies that would be used in any utca The Deal: A local hospital in the Pupet Sound area faced a dilemma in the medical arms race. Surrounding hospitals were purchasing and willing the da Vinci robot system. Management began to worry about the erosion of patients that would seek out this modern technology over more traditional surgical procedures. To this end a strategic decision was made to acquire the da Vinci robotic surgical system. The following data was presented to an analyst in the Finance Department for review
Table Lease Term: 36 Months
Lease Payment: $68,742.10
Purchase Price: $1.900000.00
Quite often, analysts are provided leasing information by the leasing company. Hospitals may choose to purchase equipment outright or acquire equipment using a lease. Leases are generally considered operating or capital leases under current accounting rules. Hospitals may purchase equipment outright if they have sufficient capital money that can be used to purchase equipment of significant amount-usually greater than $5,000). Otherwise, they may decide that if the interest rate of payments being charged is lower than their internal cost of capital (debt financing, equity financing, etc.), they may utilize the lease directly from the equipment seller.
Given the information provided in Table :
1. What is the annual rate of interest beine charped to the hospital? The total interest paid over the entire term of the lease?
2. Given this rate of interest. give some reasons on why or why not the hospital should accept this lease contract. Is this a good deal for the lessee?
3. Why would a hospital care whether it was a collease or an operating lease? When would one be an advantage over the other?
Answer:
The da Vinci Surgical Equipment
1. 1. The annual rate of interest being charged to the hospital for this da Vinci surgical equipment is computed as 18.055%.
The computed total interest that the hospital will pay over the 36 months' period = $574,715.60.
2. This rate of interest is too high. The hospital could borrow the sum of $1,900,000 from other sources without paying as high an interest rate. Therefore, it is not a good deal for the lessee hospital.
3. The hospital should care if the lease were either an operating or capital lease. An operating lease means that the hospital can only use the equipment for a determined number of years, which is usually less than the useful life of the equipment. But if it were a capital lease, the hospital is sure that the equipment becomes its own property.
Explanation:
a) Data and Calculations:
Cost of equipment = $1,900,000
Monthly lease payment = $68,742.10
Lease period = 36 months
Using an online financial calculator:
Interest Rate = 18.055%
Total of 36 Monthly Payments = $2,474,715.60
Total Interest Paid = $574,715.60
