Petty Cash Fund Murphy, Inc., maintains a balance of $2,200 in its petty cash fund. On December 31, Murphy's petty cash account has a balance of $223. Murphy replenishes the petty cash account to bring it back up to $2,200. Murphy classifies all petty cash transactions as miscellaneous expense. Required: What entry is made to record the replenishment of the petty cash fund? Dec. 31 (Replenish petty cash fund and recognize expenses)

Answer:

weighted contribution margin ratio = 0.545

Explanation:

contribution margin of sport shoes = $110 - $50 = $60

contribution margin ratio of sport shoes = $60 / $110 = 0.545454

contribution margin of formal shoes = $220 - $100 = $120

contribution margin ratio of sport shoes = $120 / $220 = 0.545454

35% of total revenues come from sport shoes

weighted contribution margin ratio (it is the same for both products) = 0.545454 = 0.545

Answer:

The effective rate of interest in the fifth year is 6.15%

Explanation:

Mathematically, the effective rate of interest can be calculated as follows;

Reff = (1 + r/y)^y - 1

where;

r is the interest rate = 6% = 6/100 = 0.06

y is the period = 5 years

Substituting these values;

Reff = (1 + 0.06/5)^5 - 1

Reff = (1 + 0.012)^5 - 1

Reff = 1.012^5 - 1

Reff = 1.061457 - 1

Reff = 0.0615 which is 6.15%

Answer:

d. APB

Explanation:

Carolyn is looking over published accounting opinions based primarily on research studies. What organization is Carolyn researching?

These are the options for the question

a. CAP

b. AICPA

c. SEC

d. APB

We are informed Carolyn who is looking over published accounting opinions based primarily on research studies. The organization Carolyn researching is Accounting Principle Board.

APB( Accounting Principle Board) belongs to a body of American institute of Certified public accountant in US.

it was been run and organised by American Institute of Public Accountants. APB can be regarded as organization which is a forerunner of

Financial Accounting Standards Board. This APB usually offer discounts on professional training with them as well insurance on journal subscription to their member. They are good in offering research on Accounting and finance.

Answer:

effective annual rate= 0.04096 = 4.096%

Explanation:

Giving the following information:

Annual interest rate= 4% compounded daily

Number of periods= 365 days

To calculate the effective annual interest rate, first, we need to determine the nominal daily rate:

nominal daily rate= 0.04/365= 0.00011

Now, using the following formula, we calculate the effective annual rate:

effective annual rate= (1+nominal daily rate)^365 - 1

effective annual rate= (1.00011^365) - 1

effective annual rate= 0.04096 = 4.096%

Answer:

Money supply increases by $1.6 billion

Explanation:

The reserve ratio is defined as the amount of a bank's reserves that the central bank of a country expects banks to keep as cash and not lend out.

Reserve ratio is also called cash reserve ratio.

This requirement is put in place in case customers decide to make mass withdrawals.

Central banks tend to control cash supply by increasing or reducing the reserve ratio.

When money to be supplied as loans is to be increased, the reserve ratio reduces so that banks can use more of their reserves for lending rather than for cash withdrawals.

In this instance reserve ratio reduced from 20% to 16%.

That is a 4% reduction

This means 4% of the reserves is freed up for lending or money supply to the public

Extra money supply = 0.04 * 40 billion = $1.6 billion

Money supply increases by $1.6 billion

Answer:

c. Between 9 and 10 years

Explanation:

The computation of the time period is shown below:

Future value = Present value × (1 +  interest rate)^number of years

$4,000 = $2,000 × (1 + 7.5% ÷4)^time period ×2

After solving this

The time period is

= 9.3283

Hence, it lies between the 9 and 10 years

Therefore the correct option is c.

And all other options are wrong.

Answer:

Waldman Associates

Waldman does not have a contract for purposes of revenue recognition on the day the contract is received.

Explanation:

Revenue from contracts with customers becomes recognizable after the performance of the obligations and not before.  Revenue is recognized when the contractor has transferred the benefits to the beneficiary and not before. Revenue, in this instance, is to be recognized based on past performance.  According to IFRS 15 and ASC 606, revenue is recognized when each performance obligation has been fully satisfied.  This is the point when economic benefit has been conferred on the other contracting party.

Answer:

OEE=35.20%

Explanation:

Calculation for the OEE of the equipment

Using this formula

OEE = Value add time / Total time available

Let plug in the formula

OEE= (169 x 3) / (24 hours a dayx 60 minutes)

OEE= 507 / 1,440

OEE= 0.3520*100

OEE=35.20%

Therefore the OEE of the equipment will be 35.20%

Answer:

Controlling Interest Goodwill

= Purchase price - Ownership stake in net assets of the subsidiary

= 1,891,000 - (2,400,000 * 75%)

= $91,000

Non-Controlling interest Goodwill

= Fair value of the minority stake - Ownership stake in net assets of subsidairy

= 625,000 - (2,400,000 * 25%)

= $25,000

Answer:

6.92%

Explanation:

Return on Equity = Net Income / Total Shareholders Funds × 100

Where,

Net Income = Sales × profit margin

                   = $508,000 × 3.5 %

                   = $17,780

Therefore,

Return on Equity = $17,780 / $257,000 × 100

                            = 6.92%

Answer:

Option c (Deed restrictions) is the correct alternative.

Explanation:

Some other three considerations do not apply to the condition given. So, the solution is indeed the right one.

Answer:

Credit to cash short and over of $3

Explanation:

Petty cash account is used to settle little expenses of a business that will not require writing a cheque.

The petty cash account has a balance that must be maintained when it is replenished.

When the account is above its limit it is debited and cash over and short is credited.

When it is below it's limit it is credited back to its normal balance and cash over and short is debited.

In the scenario the petty cash account has a limit of $135

There was a balance of $18 and a cash inflows of $120 making a total of $138.

This is over its limit

The excess is 138 - 135 = $3

This excess is debited from petty cash account and credited to cash short and over account

Answer:

please check attachment for the answers I gave. they are in tabular form

Explanation:

Answer: C.The federal Commerce Clause only allows regulation of intrastate commerce, not interstate commerce.

Explanation:

The options are:

A.The federal Congress lacks in personam jurisdiction.

B.The federal Congress has exceeded its constitutional authority to regulate interstate commerce.

C.The federal Commerce Clause only allows regulation of intrastate commerce, not interstate commerce.

D.The application of this statute violates state law, so it is unconstitutional.

Based on the scenario in the question, in defense of the lawsuit and prosecution, Jake's best argument is that the federal Commerce Clause only allows regulation of intrastate commerce, not interstate commerce.

This is an example of intrastate commerce which should typically be left for the state government to handle as the state shouldn't be deprived of its function even though in certain rare cases, the Federal government may interfere.

Answer: $86.7

Explanation:

From the question, we are informed that Builtrite stock just paid a dividend of $5 and dividends are expected to grow at a 4% annual rate and that an annual return of 10% is required.

The fair price for Builtrite stock will be:

Current price=D1/(Required return-Growth rate)

=($5 × 1.04)/(0.10-0.04)

= $5.2/0.06

= 86.7

Answer:

18.18%

Explanation:

Calculation for the expected holding-period return on Coca Cola

First step is to calculate the Expected Price in one year

Expected Price in one year = 50*25% + 60*40% + 70*35%

Expected Price in one year =12.5+24+24.5

Expected Price in one year = $61

Last step is to get Calculate the Holding period return using this formula

Holding period return = (Price after 1 year + Dividend - Price amount paid)/Price amount paid

Let plug in the formula

Holding period return= (61+4-55)/55

Holding period return=10/55

Holding period return=0.1818*100

Holding period return= 18.18%

Therefore the expected holding-period return on Coca Cola will be 18.18%

Answer:

C. You have more credits than debits.

Explanation:

In the financial world, certain terms are used that are understood by those in the financial world. One such word is the phrase "being in the black".

This phrase "being in the black" means when someone of a company has more credits than debits. This means that the inflow of money is more than outgoing. So, it is a good thing and that the company or the person is in a stable condition, not in debt, and financially solvent and safe.

Thus, the correct answer is option C.

Answer:

C

Explanation:

You have more credits than debits.

Answer:

Interest Charge $20,000 (debit)

Cash $20,000 (credit)

Explanation:

Find the Issue Price (PV) so as to construct the amortization schedule.

Pmt= ($500,000 × 8%) ÷ 2 = $20,000

i = 8%

Fv = $500,000

P/yr = 2

N= 15 × 2 = 30

Pv = ?

Using a Financial calculator to enter the data as above, Pv would be $500,000.

Answer:

Explanation:

Date   Journal Entry                      Debit      Credit

           Bond Interest Expense    $20,000

                 Cash                                            $20,000

          (Being semi-annual interest payment on bonds)

Workings:

The semi-interest payment = Coupon rate × par Value × 1/2

Semi-annual interest payment = 8% * $500,000 * 1/2

Semi- annual payment = $20,000

Answer:

$0.25

Explanation:

Note: The direct labor beginning inventory costs were $9,000 was missing

Equivalent unit for direct labor cost

Unit transferred              127,500    100%     127,500

Ending WIP Inventory    20,000      25%      5,000

Total                                147,500                  132,500

Total Cost

Cost in WIP Beginning         9,000

Cost added during period   24,000

Total cost                              33,000

Cost per equivalent unit = Total Cost / Equivalent unit for direct labor cost

Cost per equivalent unit = 33,000 / 132,500

Cost per equivalent unit = $0.25

Answer:

Single: this includes never-married, divorced, or legally separated persons who do not have any dependents during the tax year.

Married, Filing Jointly: this includes married individuals (with or without dependents) who combine their income on one tax return.

Married, Filing Separately: this includes married individuals (with or without dependents) who each file a separate tax return on only their own income.

Head of Household: this includes a single individual who maintains a household for one or more dependents (paying more than half of their support).

Qualifying Widow(er): this includes individuals whose spouse has died within the past two years and the individual is supporting at least one dependent.

Explanation:

Prepare your taxes on your own: If you have a simple return or some degree of tax knowledge, this may be a great option, as it can save you the cost of having someone else prepare them. Tax forms are available online and in locations such as libraries and post offices; however, it’s worth remembering it is a complicated process, and if you are not experienced with it, there may be a considerable learning curve and chance of error.

Prepare your taxes with the help of an electronic tax program: If you want to prepare your own taxes but need or want more guidance, there are a number of tax software programs available today to help you. By purchasing the right software or using an online site to prepare the forms, the process can be made much easier, guiding you through the areas of returns and deductions. These options may be less expensive than hiring a professional, and they do provide a lot more guidance. Online tax preparation sites also offer easy electronic filing, which can speed up any refunds you are owed. Just remember, even the best software may not identify all of the deductions or credits for which you may be eligible, and you may still have lingering questions.

Hire someone to prepare your taxes: Over 85 percent of people in the United States use a professional service every year. Depending on who you choose, this service can cost anywhere from $50 to $2,000 or more for extremely complicated returns. There are a few benefits to utilizing a professional preparation service, one being an expert is likely to be more up-to-date on tax laws and any deductions you might deserve. However, you are still responsible for supplying the tax professional with accurate information, and tax preparation services that offer “refund anticipation loans” often charge high interest rates on these credits.

Answer:

An organization with more than 1 leader is a matrix organization

Explanation:

A matrix organization can be defined as an organization that has more than one form of management. In this organization structure, there is more than 1 leader or supervisor. The individuals here work across various projects. Organizations that have different product lines and also services use this kind of structure. It gives the organization more flexibility.

Answer:

Net asset value at the start of the year = $240,000,000 / 10,000,000 shares

Net asset value at the start of the year = $24

Asset in the beginning                                            $240,000,000

Increase in value $240,000,000*5%                     $12,000,000  

Assets at the end                                                    $352,000,000

Less: 12b-1 Charges $352,000,000 * 0.75%)         $2,640,000    

Asset at the end                                                       $349,360,000

Net asset value at the end of the year = $349,360,000/10,000,000 shares

Net asset value at the end of the year = $34.936

Answer:

PV= $139,506,351.8

Explanation:

Giving the following information:

Future Value= $460,000,0000

Number of periods= 29 years

Interest rate= 4.2%

To calculate the initial investment, we need to use the following formula:

PV= FV / (1+i)^n

PV= 460,000,000 / (1.042^29)

PV= $139,506,351.8

Answer:

1. 31 Dec 2021

Dr Net unrealized holding gain/loss 25,000

Cr Fair value adjustment 25,000

2. None

Explanation:

Preparation of Journal entry

First step is to calculate for the unrealized loss

Unrealized loss=Short term loss-Long term gain

Unrealized loss=45,000-20,000

Unrealized loss=25,000

Journal entry

31 Dec 2021

Dr Net unrealized holding gain/loss 25,000

Cr Fair value adjustment 25,000

(To record unrealized loss on available for sale securities)

2. No amount would be reported in the income statement at December 31, 2021 because the Net unrealized holding gain/loss will be reported in other comprehensive income .

Answer:

The net income will increase by $15,340 due to hiring of extra worker.

Explanation:

Salary of extra worker = $55,577

Extra production = 7,700 units

Selling price per unit = $13

Direct material per unit = $2.56

Direct labor per unit = $1.00

Variable overhead per unit = $0.23

Fixed overhead = $3.90. Due to extra production, fixed overhead will not increase.

Particulars                                       Amount

Sales revenue (7,700 * 13)             $100,100

Expenses:

Direct material (7,700 * $2.56)     -$19,712

Direct labor (7,700 * $1.00)           -$7,700

Variable overhead (7,700* 0.23)  -$1,771

Salary of extra worker                   -$55,577

Net income                                     $15,340

Thus, due to hiring of extra worker net income income will increase by $15,340

Answer:

Current Price = $39.79275 rounded off to $39.79

Explanation:

Using the constant growth of dividend model, we can calculate the price of the stock at any time. The formula for price today under this model is,

P0 = D0 * (1+g) / (r - g)

Where,

As we have P1, D1 and r available, we can use this to calculate the growth rate in dividends. We will use the following formula to calculate the price today.

Price today = Future price * (1 - g)

First we calculate the growth rate using P1, D1 and r in the constant growth rate formula.

42.5 = 1.85 * (1+g) / (0.11 - g)

42.5 * (0.11 - g) = 1.85 + 1.85g

4.675 - 42.5g = 1.85 + 1.85g

4.675 - 1.85 = 1.85g + 42.5g

2.825 = 44.35g

2.825 / 44.35 = g

g = 0.063697 or 6.3697% rounded off to 0.0637 or 6.37%

Now we calculate the current price of the stock to be,

Current Price = 42.5 * (1 - 0.0637)

Current Price = $39.79275 rounded off to $39.79

The dividend is the amount paid to the shareholders in the form of returns paid for the per number of shares held by the shareholders. The rate of dividend is fixed for preference shareholders, while it depends on the profit earned during the particular period.

The current value of the stock is $39.79

The current value of the stock will be computed by using the dividend growth model.

Computation:

Current value:

[tex]\begin{aligned}\text{Current Stock Value}&=\text{Future Price}\times\left(1-\text{growth rate} \right )\\&=\$42.50\times\left(1-0.0637 \right )\\&=\$39.79\end{aligned}[/tex]

Working Note:

Computation of growth rate:

[tex]\begin{aligned}\text{P0}&=\text{D0}\times\frac{\left(1+\text{g} \right )}{\left(\text{r-g} \right )}\\\$42.50&=\$1.85\times\frac{1+\text{g}}{\left( 0.11-\text{g}\right )}\\\$42.50\times\left( 0.11-\text{g}\right )&=\$1.85+\$1.85\text{g}\\\$4.675+\$42.5\text{g}&=\$1.85+\$1.85\text{g}\\ \$4.675-\$1.85&=\$1.85\text{g}+\$42.50\text{g}\\ \$2.825&=\$44.35\text{g}\\ \frac{\$2.825}{\$44.35}&=\text{g}\\ \text{g}&=0.06369\;\text{or}\;6.37\%\end{aligned}[/tex]

were,

P0 is the market price

D0 is the current dividend

g is the growth rate

r is the required rate of return

To know more about the dividend growth model, refer to the link:

https://brainly.com/question/24044979

Answer:

The summary and as per the query is defined in the following portion of the clarification.

Explanation:

The key characteristics including its 100 yen sushi management of service distribution system are its approaches to meal preparation and facilities on the manufacturing process. The client is also involved throughout the supply chain. The regular price, the conveyor belt mechanism throughout the location, which passes across the commercial counter, is three to four chefs on the floor.

The benefits of this are the people that follow:

Answer:

$900,000

Explanation:

The first step is to calculate the percentage completed

= 600,000/2,000,000

= 0.3

The revenue can be calculated as follows

= 5,000,000 × 0.3

= 1,500,000

Therefore the gross profit for 2020 can be calculated as follows

=1,500,000 -600,000

= $900,000

Answer:

b. explore their personal beliefs and perspectives about cofacilitation.

Explanation:

Looking at the above scenario, the right alternative for Dan and Rachel to be effective co-leader models for members of an anxiety disorder group would be to explore their personal beliefs and perspectives on cofacilitation.

A support group for anxiety disorders aims to share the beliefs, perspectives and personal experiences of each member of the group so that there is exchange and mutual support for problems, greater understanding and resolution of problems.

In this case, the leaders must be the facilitators of the group's objectives, that is, they must be the examples of how to engage the members of the group, include everyone in the exchange of experiences and motivate them to reach the solution of the problems.