Answer:
$8,000
Explanation:
premium expense = [(500,000 x 4%) / 5] x ($5 - $3) = 4,000 x $2 = $8,000
the journal entry to record this:
Dr Premium expense 8,000
Cr Estimated premium claims outstanding 8,000
Since the customers must send 5 coupons + $3 in order to get the free recipe book, the actual cost per recipe book = $5 - $3 = $2 per book
in total, the company estimates that 20,000 coupons will be redeemed, but you need 5 coupons per book, so that mean that 4,000 recipe books are expected to be handed out.
Tanner wants to buy a new car. What will he most likely consider when making his decision on the type of car to buy?
Answer: a deal website that compares different types of cars, so he can choose the one he likes best
Explanation:
When buying a good or service, it is best to look out for a variety of those goods because it will enable a person to be able to compare the different varieties and be able to pick the one most suitable for them.
Tanner therefore will most likely use a website that compares cars so that he is able to see the features that different cars offer which will enable him make a decision that is most suitable for him.
Mandy is going to a four year universily and is completing classes When she graduates, she is planning on starting a job in the Energy career cluster. Which job will Mandy most likely be applying for?
A) Power Line Repairer
B) Nuclear Power Reacter Operater
C) Electrician
D) Petroleum Enginner
Answer:
D) Petroleum Engineer
Explanation:
A power line repairer only needs an associates degree (2 years of college). Nuclear Power Reactor Operator only needs a high school degree (more or less) An Electrician only needs a high school degree (more or less) And Petroleum Engineers have a Bachelors degree aka 4 years of college.
Sorry if I was to late to answer your question but I hope it can at least help someone else :)
Answer:
D
Explanation:
i took the unit test
Use the following data to calculate the current ratio. Wildhorse Co. Balance Sheet December 31, 2022 Cash $187000 Accounts payable $208000 Accounts receivable 150000 Salaries and wages payable 26500 Inventory 152000 Mortgage payable 226500 Prepaid insurance 88400 Total liabilities $461000 Stock investments (long-term) 273000 Land 269000 Buildings $314000 Common stock $390900 Less: Accumulated depreciation (60000) 254000 Retained earnings 731500 Goodwill 210000 Total stockholders' equity $1122400 Total assets $1583400 Total liabilities and stockholders' equity $1583400
Answer: 2.46: 1
Explanation:
The Current ratio is used to determine if the current assets of a business can be used to pay off its current liabilities.
Current Ratio = Current assets / Current Liabilities
Current Assets = Cash + Accounts receivable + Inventory + Prepaid insurance
= 187,000 + 150,000 + 152,000 + 88,400
= $577,400
Current Liabilities = Accounts payable + Salaries and wages payable
= 208,000 + 26,500
= $234,500
Current ratio
= 577,400/234,500
= 2.46
Your pro forma income statement shows sales of , cost of goods sold as , depreciation expense of , and taxes of due to a tax rate of . What are your pro forma earnings? What is your pro forma free cash flow?
Answer and Explanation:
The computation is shown below:
Particulars Amount($)
Sales 1,033,000
Less:- Cost of goods sold (503,000)
Gross Profit 530,000
Less:- Depreciation (103,000)
EBIT 427,000
Taxes [40% of 427000] (170,800)
Earnings 256,200
1]Proforma earnings = $256200
2]Proforma free cash flow = Earnings + Depreciation
= $256,200 + $103,000
= $359,200
The proforma earnings is $256200 , and the pro-forma free cash flow is the value of earnings before depreciation. Hence the value is $359,200.
Pro Forma income statementwe are provided with the information about:
Sales = 1,033,000
Cost of goods sold = 503,000
Gross Profit = 530,000
Depreciation = 103,000
We need to find, the net profit,
Net Profit = Gross Profit - Depriciation
Net profit = 530000 - 103000 = 427000
Earnings is the amount after deduction of Tax rate (40%)
= 40% of 427000 = 170,800
Earnings = 427000 - 170800 = 256,200
Therefore the Proforma Earning is 256,200, Proforma free cash flow = Earnings + Depreciation
= $256,200 + $103,000
= $359,200
Your Question is incomplete, the complete question is:
Our proforma income statement shows sales of $1,033,000, cost of goods sold as $503,000, depreciation expense of $103,000, and taxes of $170,800 due to a tax rate of 40%. what are your proforma earnings? what is your proforma free cash flow?
Learn more about Depreciation here:
https://brainly.com/question/1287985
A contractor builds two types of homes. The Carolina requires one lot, $160,000 capital, and 160 worker-days of labor, whereas the Savannah requires one lot, $240,000 capital, and 160 worker-days of labor. The contractor owns 300 lots and has $48,000,000 available capital and 43,200 worker-days of labor. The profit on the Carolina is $80,000 and the profit on the Savannah is $90,000. Find how many of each type of home should be built to maximize profit.
Answer:
the contractor should build 210 Carolina type homes and 60 Savannah type homes
Explanation:
you have to maximize the following equation: 80000C + 90000S
Where:
C = Carolina type homes
S = Savannah type homes
the constraints are:
160000C + 240000S ≤ 48000000
160C + 160S ≤ 43,200
C ≥ 0
S ≥ 0
using solver, the optimal solution is 210C + 60S = $22,200,000
hese are the simplified financial statements for Judd Enterprises. Income statement Current Projected Sales na 1,000 Costs na 720 Profit before tax na 280 Taxes (25%) na 70 Net income na 210 Dividends na 63 Balance sheets Current Projected Current Projected Current assets 100 115 Current liabilities 70 81 Net fixed assets 900 1,080 Long-term debt 400 Common stock 300 Retained earnings 230 Refer to the Judd Enterprises financial statements. What is Judd's projected retained earnings under this plan
Answer:
Judd’s projected retained earnings under this plan = $377
Explanation:
Judd’s projected retained earnings under this plan. = Old retained earnings + New net income - Current dividends
Judd’s projected retained earnings = $230 + $210 - $63
Judd’s projected retained earnings = $377
What is the present value on January 1, 2016, of $30,000 due on January 1, 2021, and discounted at 12% compounded annually?What is the present value on July 1, 2016, of $8,000 due January 1, 2021, and discounted at 16% compounded quarterly?What is the amount of the present value discount (the difference between future value and present value) on $8,000 due at the end of 5 years at 10% compounded annually?
Answer:
1. Future Value = 30,000
Rate = 0.12
Annual period, NPER = 5
Present value, PV = PV(0.12, 5,0,-30,000 ,0)
Present value, PV = $17,022.81
2. Future value = 8,000
Quarterly rate = 16%/4 = 4%
Number of quarters, Nper = 4.5*4 = 18
Present value, PV = PV (4% , 18, 0, -8,000 , 0)
Present value, PV = $3,949.02
3. Future value = 8,000
Annual rate = 0.1
Annual period, Nper = 5
Present value, PV = PV(0.1, 5, 0, -8000, 0)
Present value, PV = $4,967.37
Present value Discount = 8,000 - 4,967.37
Present value Discount = $3,032.63
Answer:
1. The Present value on January 1, 2016 of $30,000 due on January 1, 2021 and discounted at 12% is:
$17,022.80
2. The present value on July 1, 2016 of $8,000 due January 1, 2021, and discounted at 16% compounded quarterly is:
$3,949.02
3. The amount of the present value discount (the difference between future value and present value on $8,000 due at the end of 5 years at 10% compounded annually is:
$3,032.63
Explanation:
You will need to invest $17,022.80 at the beginning to reach the future value of $30,000.00.
FV (Future Value) $30,000.00
PV (Present Value) $17,022.80
N (Number of Periods) 5.000
I/Y (Interest Rate) 12.000%
PMT (Periodic Payment) $0.00
Starting Investment $17,022.80
Total Principal $17,022.80
Total Interest $12,977.19
2. You will need to invest $3,949.02 at the beginning to reach the future value of $8,000.00.
FV (Future Value) $7,999.99
PV (Present Value) $3,949.02
N (Number of Periods) 18.000
I/Y (Interest Rate) 4.000%
PMT (Periodic Payment) $0.00
Starting Investment $3,949.02
Total Principal $3,949.02
Total Interest $4,050.97
Total Interest $7,446.85
You will need to invest $4,967.37 at the beginning to reach the future value of $8,000.00.
FV (Future Value) $8,000.00
PV (Present Value) $4,967.37
N (Number of Periods) 5.000
I/Y (Interest Rate) 10.000%
PMT (Periodic Payment) $0.00
Starting Investment $4,967.37
Total Principal $4,967.37
Total Interest $3,032.63
Janko Wellspring Inc. has a pump with a book value of $24,000 and a four-year remaining life. A new, more efficient pump, is available at a cost of $45,000. Janko can also receive $8,000 for trading in the old pump. The new pump will reduce variable costs by $10,000 per year over its four-year life. Should the pump be replaced?A. No, because the company will be $3,000 worse off in total.B. Yes, because income will increase by $3,000 per year.C. No, because income will decrease by $10,000 per year.D. No, Janko will record a loss of $16,000 if they replace the pump.E. Yes, because income will increase by $3,000 in total.
Answer: E. Yes, because income will increase by $3,000 in total.
Explanation:
If the Incremental benefit is positive then the pump should be replaced.
Incremental Benefit = Cost saving + cash received for trading in old pump - Cost of new pump
= (10,000 * 4) + 8,000 - 45,000
= $3,000
Over the four years, the income from the decision to replace the old pump will yield an income of $3,000.
In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures to a market value basis. KJM Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par) $10,000,000 Preferred stock 2,000,000 Common stock ($10 par) 10,000,000 Retained earnings 4,000,000 Total debt and equity $26,000,000 The bonds have a 4.0% coupon rate, payable semiannually, and a par value of $1,000. They mature exactly 10 years from today. The yield to maturity is 12%, so the bonds now sell below par. What is the current market value of the firm's debt
Answer:
$5,412,000
Explanation:
The semi annual interest = $20
Periods (n) till maturity are 10*2 = 20
Discounting rate is 12%/2 = 6%
Principal amount is $1,000
Market Value = 20 * PVIFA (20,6%) + 1,000 * PVIF (20,6%)
Market Value = 20 * 11.4699 + 1,000 * 0.3118
Market Value = 229.398 + 311.8
Market Value = 541.198
Market value = $541.20
Number of bonds = 10,000,000/1,000
Number of bonds = 10,000
Current market value = Number of bonds * Market value
Current market value = 10,000 * 541.20
Current market value = $5,412,000
Ashland Corporation estimates its manufacturing overhead costs to be $200,000 and its direct labor costs to be $336,000 for 2020. The actual manufacturing labor costs were $88,000 for Product 1, $132,000 for Product 2 and $168,000 for Product 3 during 2020. Manufacturing overhead is allocated to products on the basis of direct labor costs using a predetermined overhead rate. The actual manufacturing overhead cost for the year was $180,000. The amount of overhead assigned to Product 3 during 2020 was:
Answer:
Allocated MOH= $99,960
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 200,000 / 336,000
Predetermined manufacturing overhead rate= $0.595 per direct labor dollar
Now, we can allocate overhead to Product 3:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 0.595*168,000
Allocated MOH= $99,960
If merchandise is sold on account to a customer for $10,000, terms FOB shipping point, 1/10, n/30, what is the amount to be recorded as an accounts receivable on the date of the sale?
a. $10,000
b. $10,050
c. $9,950
d. none of the above
Answer: a. $10,000
Explanation:
The amount to be recorded as an Accounts Receivable on the date of the sale is the actual amount that the merchandise was sold for which is $10,000.
The discount of 1% if paid within 10 days will only apply if the customer pays within that time and if this is done, the discount will be deducted from the amount paid to the company and debited to the Sales discount account.
Joe is a regular customer. He's been in 4 times over the past two weeks. Each
time, he's received a wire transfer of $2000. He immediately sends a wire for
$500 and comes back into the store the next day to send 3 more money
transfers of $500 each to 3 different people.
The situation raises the following Red Flags (Select all that apply)
Joe has multiple friends.
Joe's transaction activity is frequent and for larger dollar amounts.
Joe is breaking up the transaction into smaller amounts.
Joe sometimes purchases other items in the store such as toothpaste and medicine.
Joe is breaking up received money into smaller amounts of money and sending to
several people.
Answer:
Joe's situation raises the following Red Flags:
Joe is breaking up the transaction into smaller amounts.
Explanation:
Joe is following money laundry footsteps. I suspect that he may be involved in some fraudulent practices, no wonder he is making some frantic efforts to launder the wire transfer of $2,000. He had completed sending some of the proceeds to some other persons. Perhaps, he will remit more cash in similar ways.
Answer:
Joe is breaking up the transaction into smaller accounts
Joe's transaction activity is frequent and for larger dollar amounts.
Joe is breaking up received money into smaller amounts of money and sending to several people
Explanation:
Roose, Inc. reported revenue of $92 million and incurred total expenses of $84 million. The total expenses included cost of goods sold of $50 million, salaries and other administrative expenses of $9 million, $11 million of interest paid on a building's mortgage, and $14 million of depreciation. Assuming Roose is subject to the interest expense limitation, what amount of interest expense can the business deduct in the current year
Answer:
Roose, Inc.
The business can deduct $9.5 million in the current year.
Explanation:
Revenue = $92 million
Expenses allowed = 73 million ( $84 - $11 million for interest expense)
Adjusted taxable income before interest = $19 million
50% of adjusted taxable income = $9.5 million
Disallowed interest expense in the current year = $1.5 million
The interest expense allowed (deductible) is 50% for 2019 and 2020, as amended by the CARES Act) of the taxpayer's adjusted taxable income.
Corporation A has the following returns for the past three years: 7 percent, 13 percent, and 10 percent. Assume each year return had the same probability (weights of 1/3 each). Calculate the expected return
Answer:
10.00%
Explanation:
The expected return is the weighted average of all the returns recorded thus far wherein the probability of each return occurring is used as the weight of each return as shown below:
Expected return=sum of (weight* value of return)
Expected return=(7%*1/3)+(13%*1/3)+(10%*1/3)
Expected return=0.023333333 +0.043333333 +0.033333333
Expected return=10.00%
uestions 7, 8 and 9 are based on the following: An airline has 365 planes. Each plane requires routine preventative maintenance for which it is taken out of service and sent to airline's maintenance facility for 5 days. 40 percent of the planes require 2 routine preventative maintenance per year, and 60 percent of planes require 4 routine preventative maintenance per year. What is the average per year flow rate of planes to the maintenance facility
Answer:
Average per year flow rate = 1168 planes/year
Explanation:
The flow rate is the amount of a substance that passes through an area per unit of time. In this case, the average flow rate per year of planes is the number of planes that undergo maintenance in the maintenance facility per year.
In order to calculate the average flow rate, let us first calculate the number of planes in each category of percentage maintenance:
Total number of planes = 365
2 preventive maintenance
40% of the planes = 40% of 365
= 0.4 × 365 = 146 planes
This means that 146 planes in this category are sent for routine maintenance twice within the year.
∴ flow rate for two routine maintenance through the year
= 146 planes × 2 = 292 planes per year
4 preventive maintenance per year
60% of 365
= 0.6 × 365 = 219 planes
This means that 146 planes in this category are sent for routine maintenance four times within the year.
∴ flow rate for four routine maintenance through the year
= 4 × 219 = 876 planes per year
∴ Total flow rate per year = 292 + 876 = 1168 planes/year
KLM Corporation's quick assets are $6,095,000, its current assets are $13,245,000 and its current liabilities are $8,127,000. Its acid-test ratio equals:______.
a. 0.61.b. 0.75.c. 0.46.d. 2.38.e. 1.33.
Answer:
0.75
Explanation:
KLM corporation has a quick assets of $6,095,000
The current liabilities is $8,127,00
Therefore the acid test ratio can be calculated as follows
Acid test ratio= quick assets/Current liabilities
= $6,095,000/8,127,000
= 0.75
This information relates to Rice Co..
1. On April 5, purchased merchandise from Jax Company for $28,000, terms 2/ 10, n/30.
2. On April 6, paid freight costs of $700 on merchandise purchased from Jax Company.
3. On April 7, purchased equipment on account for $30,000.
4. On April 8, returned $3,600 of April 5 merchandise to Jax Company
5. On April 15, paid the amount due to Jax Company in full.
Prepare the mal entries to record the transactions listed above on Rice Co.'s books. Rice Co. uses a perpetual inventory system. (If no entry is require d, se the accoune titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually entries in the order presented in the problem.)
Answer:
Rice Co.
Journal Entries:
April 5:
Debit Inventory $28,000
Credit Accounts Payable (Jax Company) $28,000
To record the purchase of goods, terms 2/10, n/30.
April 6:
Debit Freight-in Expense $700
Credit Cash Account $700
To record the payment of freight costs for goods purchased from Jax Company.
April 7:
Debit Equipment $30,000
Credit Accounts Payable $30,000
To record the purchase of equipment on account.
April 8:
Debit Accounts Payable (Jax Company) $3,600
Credit Inventory $3,600
To record the return of goods to Jax Company.
April 15:
Debit Accounts Payable (Jax Company) $24,400
Credit Cash Discount $488
Credit Cash Account 23,912
To record the full settlement on account.
Explanation:
Rice Co's journal entries are made on a daily basis as transactions occur. They show the accounts to be debited and the ones to be credited in the general ledger. Journal entries are the initial records of transactions made by the company in its accounting system.
In the basic EOQ model, if annual demand is 50, carrying/holding cost is $2, and ordering cost is $15, This will result in a total annual inventory cost of:_______
Answer:
$104.77
Explanation:
Total annual inventory cost (TC)= DC + (Q/2)H + (D/Q)S
Where,
D = annual demand = 50
S = Ordering cost = $15
H = Holding cost = $2
Q= ?
But,
EOQ = √2DS/H
= √ 2 * 50 * 15 / 2
EOQ = 27.39 units
TC = 50 × 2 + 2(27.39/2) + 15(50/27.39)
= 50 + 27.39 + 27.38
= $104.77
Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $152,000 Credit sales, $452,000 Selling and administrative expenses, $112,000 Sales returns and allowances, $32,000 Gross profit, $492,000 Accounts receivable, $130,000 Sales discounts, $16,000 Allowance for doubtful accounts credit balance, $1,400 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. How much is bad debt expense
Answer:
$2,500
Explanation:
The computation of bad debt expense is shown below:-
Total Bad Debt = $130,000 × 3%
= $3,900
Balance of allowance for doubtful accounts after Bad debt Expense = Total bad debt - Allowance for doubtful account credit balance
= $3,900 - $1,400
= $2,500
So, we have applied the above formula.
The same is to be considered
As an incentive for customers to pay their accounts promptly, a business may offer its customers:
a. a sales return.
b. a sales discount.
c. a sales allowance.
d. free delivery.
Answer:
b. A sales discount
Explanation:
Usually, companies gives sales discounts to their customers to encourage them to pay on time for goods purchased by them. The aim is to enable the customers make immediate payment upon purchase of goods instead of buying them on credit.
Most businesses would prefer receiving cash immediately their goods are sold hence create an incentive in the form of sales discounts which is meant to encourage customers make prompt payment.
Truck Co., organized January 7th, year 1, has pretax accounting income of $720,000 and taxable income of $950,000 for the year ended December 31, year 1. The only temporary difference is accrued product warranty costs that are expected to be paid as follows: year 2 $ 150,000 year 3 $ 70,000 year 4 $ 50,000 year 5 $ 120,000 Truck has never had any operating losses (book or tax) and does not expect any in the future. There were no temporary differences in prior years. The enacted income tax rates are 30% for year 1 and 25% for year 2 through year 5. How should the deferred income tax associated with accrued product warranty be recorded in Truck’s December 31, year 1 balance sheet?
Answer:
$97,500 Assets will be recorded
Explanation:
Calculation of deferred tax
Year 2 = $150,000 * 0.25 = 37,500
Year 3= $70,000 * 0.25 = 17,500
Year 4 = $50,000 * 0.25 = 12,500
Year 5 = $120,000 * 0.25 = 30,000
Total deferred tax $97,500
Taxes payable = $285,000 (30% * 95,000
Tax expenses = $187,500
Deferred tax asset = $97,500
A company is analyzing a proposed project. The company expects to sell 14,600 units, plus or minus 2 percent. The expected variable cost per unit is $16 and the expected fixed cost is $36,000. The fixed and variable cost estimates are considered accurate within a plus or minus 2 percent range. The depreciation expense is $33,000. The tax rate is 34 percent. The sale price is estimated at $20 a unit, give or take 2 percent. What is the net income under the worst-case scenario
Answer:
$21976
Explanation:
When estimating the net income under the worst-case scenario, the fixed and variable cost estimates are done using positive percentage(100% + 2% = 1.02) while other cost using negative percent range (100% - 2%).
The net income under worst scenario is:
[tex]Net \ income_{worst}=[[(\$24*0.98-\$16*1.02)*(14600*0.98)]-(\$36000*1.02)-\$33000][1-0.34]=\$33297.6*0.66=\$21976[/tex]
Orlando Inc. offers a bond with a coupon of 6.5% with semiannual payments and a yield to maturity of 6.99%. The bonds mature in 8 years and have a par value of $1,000. Compute the market price of the bond.
a. $1,393.21.b. $1,024.05.c. $1,363.56.d. $970.36.e. $1,577.15.
Answer:
d. $970.36
Explanation:
The market price of the bond (Pv) can be calculated as follows :
Pmt = ($1,000 × 6.5%) ÷ 2 = $32.50
P/yr = 2
i = 6.99%
n = 8 × 2 = 16
Fv = $1,000
Pv = ?
Using a Financial calculator to enter the values as above, the market price of the bond (Pv) is $970.3583 or $970.36.
The stockholders’ equity accounts of Martinez Corporation on January 1, 2020, were as follows:
Preferred Stock (8%, $52 par, 10,000 shares authorized) $416,000
Common Stock ($1 stated value, 2,100,000 shares authorized) 1,450,000
Paid-in Capital in Excess of Par—Preferred Stock 110,000
Paid-in Capital in Excess of Stated Value—Common Stock 1,400,000
Retained Earnings 1,850,000
Treasury Stock (11,000 common shares) 55,000
During 2020, the corporation had the following transactions and events pertaining to its stockholders’ equity.
Feb. 1 Issued 26,000 shares of common stock for $116,000.
Apr. 14 Sold 5,500 shares of treasury stock—common for $33,900.
Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,100.
Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,700.
Dec. 31 Determined that net income for the year was $465,000.
No dividends were declared during the year.
A. Journalize the transactions and the closing entry for net income.
B. Enter the beginning balances in the accounts, and post the journal entries to the stockholders’ equity accounts.
C. Prepare a stockholders’ equity section at December 31, 2017.
Answer:
A)
Feb. 1 Issued 26,000 shares of common stock for $116,000.
Dr Cash 116,000
Cr Common stocks 26,000
Cr Paid-in capital in excess of stated value - common stock 90,000
Apr. 14 Sold 5,500 shares of treasury stock—common for $33,900.
Dr Cash 33,900
Cr Treasury stocks 27,500
Cr Paid-in capital in excess of stated value - common stock 6,400
Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,100.
Dr Patent 34,100
Cr Common stocks 4,800
Cr Paid-in capital in excess of stated value - common stock 29,300
Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,700.
Dr Treasury stock 5,700
Cr Cash 5,700
Dec. 31 Determined that net income for the year was $465,000.
Dr Income summary 465,000
Cr Retained earnings 465,000
B)
Preferred Stock $416,000
Common Stock $1,480,800
Paid-in Capital in Excess of Par - Preferred Stock $110,000
Paid-in Capital in Excess of Stated Value - Common Stock $1,525,700
Retained Earnings $2,315,000
Treasury Stock $33,200
C)
Stockholders' EquityPreferred 8% Stock, $52 par value
(10,000 stocks authorized) $416,000
Paid-in Capital in Excess of Par $110,000 $526,000
Common Stock
(2,100,000 stocks authorized) $1,480,800
Paid-in Capital in Excess of Par $1,525,700 $3,006,500
Total paid in capital $3,532,500
Retained Earnings $2,315,000
Treasury Stock (6,500 stocks at cost) ($33,200)
Total Stockholders' Equity $5,814,300
If there was a 24% chance of having a contract signed to purchase a home in any one month and there were 55 homes on the market, what would be the probability that exactly 15 of them would have a contract signed during this month?
a. 10.3%
b. 24.0%
c. 66.7%
d. 23.0%
Answer:
a. 10.3%
Explanation:
P∝F of Binomial distribution is given as Pr.(x=x) = nCxP^x(1-p)^(n-x)
P = 0.24, n= 55, x =15 Note: C = Combination
Pr.(x = 15) = 55"C"15(0.24)^15(0.76)(55-15)
Pr.(x = 15) = 55"C"15(0.24)^15(0.76)^40
Pr.(x = 15) = 0.1026
Pr.(x = 15) = 10.26%
Pr.(x = 15) = 10.3%
Define a random variable that represents the time in minutes required to assemble the product
A random variable x is a numerical outcome of a probability experiment. There is a numerical value which is determined by chance for each outcome in the procedure or experiment. Therefore, a random variable is used for describing outcomes using numerical values.
x = time in minutes
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $6 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July
Answer:
$247,000
Explanation:
The computation of the estimated finished goods inventory balance at the end of July is shown below:-
Unit product cost = 5 × 2.4 + 14 × 2 + 6 × 2
= 52
Now,
Ending finished goods inventory balance = Budgeted unit sales × Ending finished goods inventory percentage × Unit product cost
= 19,000 × 25% × 52
= $247,000
Therefore we have applied the above formula
You are considering how to invest part of your retirement savings.You have decided to put $400,000 into three stocks: 61% of the money in GoldFinger (currently $28/share), 24% of the money in Moosehead (currently $73/share), and the remainder in Venture Associates (currently $9/share). Suppose GoldFinger stock goes up to $43/share, Moosehead stock drops to $67/share, and Venture Associates stock drops to $6 per share. a. What is the new value of the portfolio? b. What return did the portfolio earn? c. If you don't buy or sell any shares after the price change, what are your new portfolio weights?
Answer:
a. Number of shares of GoldFinger = 61%*400000/24
Number of shares of GoldFinger = 10166.6667
Number of shares of Moosehead = 24%*400,000/73
Number of shares of Moosehead = 1315.0685
Number of shares of Venture Associates = (1 - 61% - 24%) * 400,000/9
Number of shares of Venture Associates = 15% * 400,000/9
Number of shares of Venture Associates = 6666.6667
New value of the portfolio = 10166.6667*$43 + 1315.0685*$67 + 6666.6667*$6
New value of the portfolio = $437,166.6681 + $88,109.5895 + $40000.0002
New value of the portfolio = $565,276.2578
b. The return that the portfolio earn is = ($565,276.2578 - $400,000) / $400,000 = $165,276.2578 / $400,000 = 0.4131906445 = 41.32%
c. Weight of Goldfinger is now = (10166.6667*$43) / $565,276.2578
= $437166.6681 / $565,276.2578
= 0.7734
= 77.34%
Weight of Moosehead is now = (1315.0685*$67) / $565,276.2578
= $88109.5895 / $565,276.2578
= 0.15587
= 15.59%
Weight of Venture is now = 100% - 77.34 - 15.59%
= 7.07%
Even though commercial airlines have excellent safety records, in the weeks following a crash, airlines often report a drop in the number of passengers, probably because people are afraid to risk flying. a) A travel agent suggests that since the Law of Averages makes it highly unlikely to have two plane crashes within a few weeks of each other, flying soon after a crash is the safest time. What do you think? b) If the airline industry proudly announces that it has set a new record for the longest period of safe flights, would you be reluctant to fly? Are the airlines due to have a crash?
Answer:
A) There is no such thing as the "Law of Averages." The overall probability of an airplane crash does not change due to recent crashes.
Explanation:
This is the complete question below;
Even though commercial airlines have excellent safety records, in the weeks following a crash, airlines often report a drop in the number of passengers, probably because people are afraid to risk flying. A travel agent suggests that since the Law of Averages makes it highly unlikely to have two plane crashes within a few weeks of each other, flying soon after a crash is the safest time. What do you think?
Choose the correct answer below.
A. There is no such thing as the "Law of Averages." The overall probability of an airplane crash does not change due to recent crashes.
B. The "Law of Averages" states that outcomes must even out in the short run. This means that the overall probability of an airplane crash is higher due to recent crashes.
C. The "Law of Averages" states that outcomes must even out in the short run. This means that the overall probability of an airplane crash is lower due to recent crashes.
D. The "Law of Averages" does not apply to this situation. The overall probability of an airplane crash does not change due to recent crashes.
We are informed from the question that commercial airlines have excellent safety records, in the weeks following a crash, airlines often report a drop in the number of passengers, probably because people are afraid to risk flying. A travel agent suggests that since the Law of Averages makes it highly unlikely to have two plane crashes within a few weeks of each other, flying soon after a crash is the safest time.
In this case, There is no such thing as the "Law of Averages." The overall probability of an airplane crash does not change due to recent crashes.
There was fact that the commercial airlines has excellent safety records in the past and there is a crash after the following week, all these doesn't have any connection with people flying soon after a crash because they think is the safest time.
Airline transportation has its pros and cons. The answers are given below;
My point is that There is nothing like the "Law of Averages." The total likelihood of an airplane crash will not be altered due to recent crashes. When one take a flight, it is usually done at your own risk.If the airline industry proudly announces that it has set a new record for the longest period of safe flights, I would not be be reluctant to fly. Every airline companies are known to have strict maintenance of their planes are its parts.
They ensure that their flights does not have any issue on the way, Even though things do happen, that does not mean I would be scare and not fly.
The airline is not due to crash. This is because the likelihood of a crash occurring is not due to the time a previous crash occurred. One should not be scared or afraid of flying.
Learn more about airline from
https://brainly.com/question/24752362
M Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days. At December 31, 2021, M's unadjusted balance of liability for compensated absences was $32,400. M estimated that there were 200 total vacation days available at December 31, 2021. M's employees earn an average of $162 per day. In its December 31, 2021, balance sheet, what amount of liability for compensated absences is M required to report
Answer:
$28,200
Explanation:
There are 200 vacation days available as at December 31, 2021.
The liability compensated absences will be the amount that M Corp. owes employees should they take those 200 vacation days.
Amount of liability = Number of total vacation days * Wage per day
Amount of liability = 200 * 141 per day
Amount of liability = $28,200
