Answer:
A = P(1+r/100)^n. A= FV, P= PV, r= rate, n = period
1. A = P(1+r/100)^n
A= 1,430,000, P = 230, r = ?, n = 2012-1903 = 109
1,430,000 = 230(1+r/100)^109
1+r/100=(1,430,000/230)^(1/109)
1+r/100=1.08344
r = (1.08344-1)*100
r = 0.08344*100
r = 8.344%
r = 8.34%
2. A = P(1+r/100)^n
A = ?, P = 1,430,000, r = 8.34%, n = 2037 - 2012= 35
A = 1,430,000(1+8.344/100)^25
A = 1,430,000(1+ 0.08344)^25
A = 1,430,000(1.08344)^25
A = 1,430,000*7.41517895232
A = 10603705.9018176
A = $106,03,021.98
Direct Labor Cost Budget Pasadena Candle Inc. budgeted production of 33,000 candles for January. Each candle requires molding. Assume that two minutes are required to mold each candle. If molding labor costs $9.75 per hour, determine the direct labor cost budget for January. Round total direct labor cost to the nearest dollar, if required. Pasadena Candle Inc. Direct Labor Cost Budget For the Month Ending January 31 Hours required for assembly: Candles min. Convert minutes to hours ÷ min. Molding hours hrs. Hourly rate × $ Total direct labor cost $
Answer:
Total direct labor cost = $16,087.50
Explanation:
Production = 33,000 candles
Minute per candle = 3 minutes
Total minute to produce 33,000 Candle = 33,000 candles * 3 minutes = 99,000 Minutes
Total hours for production = 99,000 / 60 minutes = 1,650 hours
Hence, molding hours = 1,650 hours
Total direct labor cost = Molding hours * Molding labor costs per hour
Total direct labor cost = 1,650 hours * $9.75
Total direct labor cost = $16,087.50
Wesimann Co. issued 10-year bonds a year ago at a coupon rate of 7 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 5.3 percent, what is the current bond price?
Answer:
$1,123.69
Explanation:
We can use the yield to maturity formula to determine the current market price of the bonds.
YTM = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]
YTM = 5.3% / 2 = 2.65%coupon = $1,000 x 7% x 1/2 = $35face value = $1,000n = 9 years x 2 = 180.0265 = {35 + [(1,000 - M)/18]} / [(1,000 + M)/2]
0.0265 x [(1,000 + M)/2] = 35 + [(1,000 - M)/18]
0.0265 x (500 + 0.5M) = 35 + 55.56 - 0.05555M
13.25 + 0.01325M = 90.56 - 0.05555M
0.0688M = 77.31
M = 77.31 / 0.0688 = $1,123.69
Winkler Company borrows $86,000 and pledges its receivables as security. The journal entry to record this transaction would be:______
a. Debit Cash of $86,000 and credit Accounts Receivable $86,000.
b. Debit Cash of $86,000 and credit Accounts Payable $86,000.
c. Debit Note Receivable $86,000 and credit Accounts Receivable $86,000.
d. Debit Cash $86,000 and credit Notes Payable $86,000
e. Debit Accounts Receivable $86,000 and credit Notes Payable $86,000.
Answer:
a. Debit Cash of $86,000 and credit Accounts Receivable $86,000.
Explanation:
Increase the assets of cash and decrease the assets of trade receivables pledged as security as follows :
Cash $86,000 (debit)
Trade Receivables $86,000 (credit)
What employment issue for flexible employees does the Walling v. A.H. Belo Corporation Supreme Court ruling address
Answer:
Fixed weekly pay
Explanation:
The Walling v. A.H. specified weekly salary for variable employees job challenge for flexible workers Ruling document of the Belo Company Supreme Court. Workers who work varying workweeks receive a set wage, irrespective about how many times per week may work. For starters, if they operated 35 or 40 hours, the employee should receive the same weekly wage. Therefore, the hourly wage of a salaried employee differs depending according to how many hours they work.
Forrester Company is considering buying new equipment that would increase monthly fixed costs from $425,000 to $445,500 and would decrease the current variable costs of $60 by $15 per unit. The selling price of $100 is not expected to change. Forrester's current break-even sales are $1,140,000 and current break-even units are 11,400. If Forrester purchases this new equipment, the revised break-even point in dollars would be:
Answer:
Break-even point (dollars)= $810,000
Explanation:
Giving the following information:
Fixed costs= $445,500
Unitary variable cost= $45
Selling price= $100
To calculate the break-even point in dollars, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 445,500 / [(100 - 45) / 100]
Break-even point (dollars)= $810,000
Initiative means letting your boss define your tasks.
Answer:
False
Explanation:
1. the ability to assess and initiate things independently.
2. the power or opportunity to act or take charge before others do
Answer:
F
Explanation:
Alicia is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC has net income of $325,000 after deducting Alicia's $100,000 salary. In addition to her compensation, ABC pays Alicia dividends of $250,000. After reviewing comparable companies, you determine that reasonable compensation for someone with her experience and responsibilities is $200,000. What is Alicia's qualified business income
Answer: $225,000
Explanation:
Alicia's qualified Business income will be calculated thus:
Net income = $325,000
Dividends = $250,000
Alicia’s salary = $100,000
Compensation = $200,000
The actual reasonable compensation will be calculated as the difference between the reasonable compensation and the salary of Alicia. This will be:
= $200,000 - $100,000
= $100,000
Alicia’s qualified business income:
= Net income - Actual Reasonable compensation
= $325,000 - $100,000
= $225,000
Sherman, Inc. manufactures chainsaws that sell for $65. Each chainsaw uses $14 in direct materials and $9 in direct labor per unit. Sherman has two activities: Machining, which is applied at the rate of $4 per machine hour, and Finishing, which is applied at the rate of $20 per batch. This month, Sherman made 225 chainsaws, using 1,125 machine hours in 45 batches. What is the gross profit for one chainsaw
Answer: $18
Explanation:
Based on the information,
Sales revenue = $65 × 225 = $14625
Cost of goods sold = (45 × $20) + (1125 × $4) + (225 × $14) + (225 × $9)
= $900 + $4500 + $3150 + $2025
= $10575
Gross profit = Sales revenue - Cost
= $14625 - $10575
= $4050
The gross profit for one chainsaw will be:
= $4050/225
= $18
8. In which of the following scenarios would it typically be best to use your savings?
A Paying for a financial emergency
B Buying a new pair of shoes at the mall
C Paying your cable bill
D Paying your electric bill.
Answer:
A. Paying for a financial emergency
Assume you purchase a Harley-Davidson Corporation bond that pays 5 percent or annual interest of $50 and has a face value of $1000. Also, assume new corporate bond issues of comparable quality are currently paying 6 percent. What is the approximate market value?
Answer:
$833.33
Explanation:
Annual Interest Paid = $50
Market Interest rate = 6%
The approximate market value = Annual interest paid / Market Interest rate
The approximate market value = $50 / 6%
The approximate market value = $50 / 0.06
The approximate market value = 833.3333333333333
The approximate market value = $833.33
Describe an unclassified balance sheet. Multiple choice question. An unclassified balance sheet is one where assets are separated into operating assets and non-operating assets. An unclassified balance sheet organizes assets and liabilities into important subgroups. An unclassified balance sheet lists all operating expenses separate from its non-operating expenses. An unclassified balance sheet is one whose items are broadly grouped into assets, liabilities, and equity.
Answer:
D. An unclassified balance sheet is one whose items are broadly grouped into assets, liabilities, and equity.
Explanation:
A balance sheet can be defined as a financial statement used in reporting an organization's assets, capital, liabilities, debt and equity at a specific period of time.
An unclassified balance sheet is one whose items are broadly grouped into assets, liabilities, and equity.
This ultimately implies that, an unclassified balance sheet is typically used to report an organization's assets, liabilities and equity without separating or grouping them into specific classes (sub-classification of assets, liabilities or equity). Therefore, the financial items are only listed in an order of liquidity with their total.
An unclassified balance sheet is mainly used by small businesses and for internal reporting of financial items.
Onyemah Corporation uses the FIFO method in its process costing system. Operating data for the Brazing Department for the month of November appear below: Units Percent Complete with Respect to Conversion Beginning work in process inventory 7,700 40 % Transferred in from the prior department during November 41,500 Completed and transferred to the next department during November 39,600 Ending work in process inventory 9,600 70 % What were the equivalent units of production for conversion costs in the Brazing Department for November?
Answer:
43,240 units
Explanation:
Note : We are using FIFO method thus, we are only interested in the units worked in this year.
Calculation of equivalent units of production for conversion costs
To Finish Beginning work in process inventory (7,700 × 60%) = 4,620
Started and Completed ((39,600 - 7,700) × 100%) = 31,900
Ending work in process inventory (9,600 × 70%) = 6,720
Equivalent units of production for conversion costs = 43,240
Conclusion :
The equivalent units of production for conversion costs in the Brazing Department for November is 43,240 units.
In 2005, Recreation & Relaxation Corporation began making and selling all-terrain vehicles (ATVs) under the mark "R&R." Ten years later, recoveryandrehabilitation, Inc., a differ¬ent company selling medical equipment and supplies, begins to use "R&R" as part of its URL and registers it as a domain name. Can Recreation & Relaxation stop recoveryandrehabilitation’s use of "R&R"? If so, what must the ATV maker show?
Answer and Explanation:
No Recreation & Relaxation Corporation cannot stop recoveryandrehabilitation Inc from using the trademark because it does not bring any form of confusion amongst the companies( their customers are able to tell one company from the other). Recreation & Relaxation Corporation is in a different industry and sells a different product or service from recoveryandrehabilitation Inc therefore the registered trademark R&R does not warrant the company from trying to stop the other company from using it as per trademark infringement
At the end of the year, Breyer Associates had a credit balance in its allowance for uncollectible accounts of $12,000 before adjustment. The balance in Breyer's gross accounts receivable is $600,000. Breyer's management estimates that 10% of its accounts receivable balance will not be collected. What journal entry should Breyer record to adjust its allowance for uncollectible accounts
Answer:
December 31, 202x, adjustment to allowance for doubtful accounts
Dr Bad debt expense 48,000
Cr Allowance for doubtful accounts 48,000
Explanation:
total estimated bad debt = $600,000 x 10% = $60,000
allowance for doubtful accounts balance = $12,000
this account must be increased by $60,000 - $12,000 = $48,000
Allowance for doubtful accounts is a contra asset account that decreases the net balance of accounts receivable. In this case, the net balance of accounts receivable after the adjustment = $600,000 - $60,000 = $540,000
The Big Tradeoff highlights the tension between equally distributing the economic pie (equality or equity) and generating the greatest possible economic pie (efficiency). How does the game played by Mellors and Nero described in this chapter illustrate Okun's trade-off
Answer:
D. The game illustrates that when you separate effort from reward, to achieve equity, the result is less effort and a smaller pie.
Explanation:
Okuns equality and efficiency explores the trade-off between inequality and economic efficiency. According to him there is a conflict that the government faces when they try to achieve equality by giving up higher reward for more effort, in other words rewarding every individual equally whether they work less or more in order to achieve equality. This causes economic inefficiency as people are not encouraged to work and there is less output consequently. The game played by Mellor and Necro mirrors same situation whereby government gives equal pay to two individuals who are working dIfferently, one working hard and the other not as much. This therefore leads to lower output
All of the following would require a debit to the Work In Process Inventory account except::a.factory labor is used. b.raw materials are purchased. c.overhead is applied. d.raw materials are used
Answer:
b. raw materials are purchased
Explanation:
A Raw Materials Account would be debited instead of a Work In Process Inventory account when raw materials are purchased.
Concord Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,500 $14 2/4 Purchase 2,500 21 2/20 Sale 3,000 35 4/2 Purchase 3,500 27 11/4 Sale 2,700 39 (a) Your Answer Correct Answer Correct answer iconYour answer is correct. Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ eTextbook and Media Solution Attempts: 3 of 3 used (b) Partially correct answer iconYour answer is partially correct. Compute cost of goods sold, assuming Concord uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) Cost of goods sold (a) Periodic system, FIFO cost flow $ (b) Perpetual system, FIFO cost flow $ (c) Periodic system, LIFO cost flow $ (d) Perpetual system, LIFO cost flow $ (e) Periodic system, weighted-average cost flow $ (f) Perpetual system, moving-average cost flow $
Answer:
Concord Company
1. Average cost per unit = $168,000/7,500 = $22.40
2. Cost of goods sold:
(a) Periodic system, FIFO cost flow $
= Cost of goods available for sale Minus Ending Inventory
= $168,000 - $48,600
= $119,400
(Ending Inventory = 1,800 x $27 = $48,600)
(b) Perpetual system, FIFO cost flow $
= $119,400
(c) Periodic system, LIFO cost flow $
= Cost of goods available for sale Minus Ending Inventory
= $168,000 - $27,300
= $140,700
(Ending Inventory = 1,500 * $14 + 300 * $21 = 27,300)
(d) Perpetual system, LIFO cost flow $
= Cost of goods available for sale - Ending Inventory
= $168,00 - $35,600
= $132,400
= 2,500 * $21 = $52,500
+ 500 * $14 = $7,000
+ 2,700 * $27 = $72,900
Total 5,700 = $132,400
(Ending Inventory = 1,000 * $14 + 800 * 27 = $35,600)
(e) Periodic system, weighted-average cost flow $
= 5,700 * $22.40
= $127,680
(f) Perpetual system, moving-average cost flow $
= 3,000 * $18.375 = $55,125
+ 2,700 * $25.083 = $67,724.10
Total 5,700 units = $122,849.10
Explanation:
Data about Product Hawkeye:
Date Transaction Quantity Price/Cost Costs Moving Sale
Average Revenue
1/1 Beginning inventory 1,500 $14 $21,000
2/4 Purchase 2,500 21 52,500 18.375
2/20 Sale (3,000) 35 $105,000
4/2 Purchase 3,500 27 94,500 25.083
11/4 Sale (2,700) 39 105,300
12/31 Ending inventory 1,800
Goods available for sale 7,500 $168,000
Goods sold 5,700 $210,300
Average cost per unit = $168,000/7,500 = $22.40
_______ refers to the gathering information and uncovering customer needs by using one or more questions.
a. Probing
b. Communication narrowing
c. Objection refutation
d. Question empathizing
e. Interrogative encoding
Answer:
a. Probing
Explanation:
Probing refers to the gathering of information and uncovering customer needs by using one or more questions.
This ultimately implies that, business owners and service providers through the help of customer relationship department are able to understand the various customer needs by asking pertinent questions. The main purpose of this strategic approach (probing) is to ensure businesses understand customer needs and are able to provide appropriate solutions in a timely manner.
Some examples of probing questions used by various businesses are;
Did you enjoy our service? How satisfied are you with this product?What would you recommend we add to our website?On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright received a note requiring payment of $515,000 by Elmira on December 31, 2023. The effective interest rate is 8%. (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.): Required: 1. How much sales revenue would Wright recognize on January 1, 2021, for this transaction
Answer:
Sales revenue = $408,823.60
Explanation:
we must first determine the present value of the note:
PV = $515,000 / (1 + 8%)³ = $515,000 / 1.08³ = $408,823.60
discount on the note = $515,000 - $408,823.60 = $106,176.40
the journal entry should be:
January 1, 2021, school buses sold to Elmira School District
Dr Notes receivable 515,000
Cr Sales revenue 408,823.60
Cr Discount on notes receivable 106,176.40
Park competes with World by providing a variety of rides. sells tickets at $110 per person as a one-day entrance fee. Variable costs are $44 per person, and fixed costs $412,500 are per month. Under these conditions, the breakeven point in tickets is 6,250 and the breakeven point in sales dollars is $687,500.
Requirement
1. Suppose Park cuts its ticket price from to to increase the number of tickets sold. Compute the new breakeven point in tickets and in sales dollars. 2. Begin by selecting the formula labels and then entering the amounts to compute the number of tickets must sell to break even under this scenario
Answer:
Instructions are below.
Explanation:
Giving the following information:
Variable costs are $44 per person
Fixed costs $412,500
Let's suppose that the new selling price is $100.
To calculate the break-even point in units and dollars, we need to use the following formulas:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 412,500 / (100 - 44)
Break-even point in units= 7,366 units
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 412,500 / (56/100)
Break-even point (dollars)= $736,607
Owners of a local restaurant are concerned about their ability to provide quality service as they continue to grow and attract more customers. They have collected data from Friday and Saturday nights, their busiest times of the week. During these time periods about 75 customers arrive per hour for service. Given number of tables and chairs, and the typical time it takes to serve a customer, the owners estimate they can serve on average about 100 customers per hour. Use Exhibit 5.6. During these nights, are they in the zone of service, the critical zone, or the zone of nonservice?
Answer:
the critical zone
Explanation:
So, we have the following information or data from the question/problem, they are:
=> In order to improve on the restaurant service and give more quality, customers data were collected in from Friday and Saturday nights which happens to be the local restaurant's busiest times of the week.
=> From the data collected it was shown that 75 customers arrive per hour for service.
=> After getting the data above the owners of the local restaurant estimated that they can serve on average about 100 customers per hour.
In order to improve on the restaurant service and give more quality, the utilization rate must be calculated. Therefore the utilization rate is arrival rate divided by service rate that is to say;
The utilization rate = arrival rate/ service rate.
The utilization rate = 75/100 = 0.75 = 75%.
The next step is to draw the diagram showing the relationship between rate of service utilization and service rate.
So, from the graph we have that with the 75%, the zone that it falls to is the CRITICAL ZONE.
Tell me about a time where you were unable effectively communicate due to an attitudinal barrier
I have aditude all the time so everyday
Princetown Inc. has a $4.82 million basis in 68% of the outstanding stock of Merryvale Corporation. Merryvale manufactures Christmas decorations, cards, and wrapping paper. Princetown's board of directors recently learned that Merryvale is bankrupt. The board voted unanimously to dissolve the corporation and distribute all assets to Merryvale's creditors. What is the tax consequence to Princetown of the board's actions?
Answer:
$4.82 million ordinary loss
Explanation:
Note: The option to the question is attached
Merryvale is an affiliated corporation, so Princetown is allowed an ordinary loss in the worthlessness of the stock
It is estimated that the net cash flows to be received from the copyright will be $63,000, and its fair value is $59,850. The accumulated amortization at the end of 2021 was $15,435. Compute the amount of impairment, if any, to be recorded on December 31, 2021. (If there is a loss on impairment, then enter amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Answer:
The amount of the impairment = $3,150.
Explanation:
a) Data and Calculations:
Net cash flows = $63,000
Fair value of copyright = $59,850
Accumulated amortization = $15,435
Impairment gain = $3,150 ($63,000 - $59,850)
b) There is an impairment gain of $3,150 since the net cash flows is higher than the fair value of the copyright. Copyright is an intangible asset and impairment assessment must be conducted yearly.
Dissolving a limited partnership requires: Group of answer choices a unanimous vote among all partners. a unanimous vote of the general partners and a majority vote of the limited partners. a unanimous vote of the limited partners and consent of any general partner who owns a majority of the rights to receive a distribution as a general partner. a unanimous vote of the general partners and consent of any limited partner who owns a majority of the rights to receive a distribution as a limited partner.
Answer:
Dissolving a limited partnership
a unanimous vote of the general partners and consent of any limited partner who owns a majority of the rights to receive a distribution as a limited partner.
Explanation:
Partnerships can dissolve if the general partner dies, retires, or withdraws from the partnership. However, the dissolution of a partnership is subject to the partnership agreement. It specifies how a partnership should be dissolved. It is in the absence of a specific agreement that the general rules apply.
On August 1, 2021, Turner Manufacturing lends cash and accepts a $9,000 note receivable that offers 6% interest and is due in nine months. How would Turner record the year-end adjustment to accrue interest in 2021? (Do not round intermediate calculations. Round your answer to the nearest dollar amount.) A. Interest Revenue 291 Interest Receivable 291 B. Interest Receivable 540 Interest Revenue 540 C. Interest Receivable 291 Interest Revenue 291 D. Interest Receivable 225 Interest Revenue 225
Answer:
D. Interest Receivable 225 Interest Revenue 225
Explanation:
The journal entry is shown below:
Interest receivable Dr ($9,000 × 6% × 5 ÷ 12) $225
To Interest revenue $225
(Being accrued interest is recorded)
For recording this, we debited the interest receivable as it increased the asset sand credited the interest revenue as it also increased the revenue
Therefore the last option is correct
What is a "closing balance?
a.) The amountof money you have at the end of the statement period
b.)The amount of money you have when you close your account
c.)The amount of money you owe at the end of the statement period
d.)The amount of money waiting to be transferred out of your account
Faster pls
Answer:
The answer is A
Explanation:
A closing balance is the amount of money a business has at the end of a specific time period.
Consider the following two assets. The first is a stock fund, the second is a long-term government and corporate bond fund. The probability distribution of the funds is as follows: Expected ret std. dev. Stock fund 18% 25% Bond fund 11% 18% The correlation between the fund returns is 0.4. What is the investment proportion in the minimum variance portfolio of the bond fund
Answer:
0.76
Explanation:
So, in this particular question we are given that that there are two assets which are the; [1]. stock fund and [2]. a long-term government and corporate bond fund.
From the question/problem, we have that the Expected ret and the std. dev. for the Stock fund is 18% and 25% respectively. Also, the Expected ret and std. dev. for Bond fund 11% and 18% respectively.
Thus, the investment proportion in the minimum variance portfolio of the bond fund = 1 - [ ( 18%)² - 0.4 × 25% × 18%) ÷ ( 25%)² + (18%)² - 2 × 0.4 × 25% × 18%. = 1 - [0.0144 ÷ 0.0609 ] = 1 - 0.24 = 0.76.
Doug and Sue Click file a joint tax return and decide to itemize their deductions. The Clicks' income for the year consists of $89,000 in salary, $1,500 interest income, and $700 long-term capital loss. The Clicks' expenses for the year consist of $1,450 investment interest expense. Assuming that the Clicks' marginal tax rate is 35 percent, what is the amount of their investment interest expense deduction for the year
Answer:
$1,450
Explanation:
Interest Income = $1,500
Investment Interest expenses = $1,450
Allowed deduction limit investment interest is subject to investment income. So $1,450 is allowed as deduction
During a recent week, Maya Schneiderman worked 42 regular hours. She earns $9.25/hour, is paid an overtime rate of 1.5 times her regular wage rate, and has requested that 3% of her gross pay be withheld and contributed to a 401(k) retirement plan. Maya's taxable pay for federal income tax withholding is
Answer:
$385.82
Explanation:
Maya's total earnings = (40 x $9.25) + (2 x $9.25 x 1.5) = $397.75
Contributions to her 401k retirement plan reduce her taxable income (they are above the line deductions. She will contribute $397.75 x 3% = $11.93.
Her taxable income for federal income tax withholding = $397.75 - $11.93 = $385.82.
The actual amount withheld will depend on Maya's W-4 form (includes information about filing status, dependents, other income, etc.)
