Answer:
(A) 20.54
(B) 24.46
(C) 30.88
Explanation:
(A) The current stock price can be calculated as follows
Po= 1.55(1+6/100)/(14/100-6/100)
= 1.55(1+0.06)/(0.14-0.06)
= 1.55(1.06)/0.08
=1.643/0.08
= 20.54
(B) The stock price after 3 years can be calculated as follows
Po = 1.55(1+6/100)^4/(14/100-6/100)
= 1.55(1+0.06)^4/(0.14-0.06)
= 1.55(1.06)^4/0.08
= 1.55(1.2624)/0.08
= 1.9567/0.08
= 24.46
(C) The stock price after 7 years can be calculated as follows
Po= 1.55(1+6/100)^8/(14/100-6/100)
= 1.55(1+0.06)^8/(0.14-0.06)
= 1.55(1.06)^8/(0.08)
= 1.55(1.5938)/0.08
= 2.470/0.08
= 30.88
Suppose that real GDP grew more in Country A than in Country B last year.
a. Country A must have a higher standard of living than country B.
b. Country A's worker productivity must have grown faster than country B's.
c. Both of the above are correct.
d. None of the above are correct.
Answer:
D
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
The standard of living is calculated as real GDP / population. Even though the real GDP of country A grew faster than country B, country A's population might be higher than country B's making its standard of living lower.
To make a conclusion that the growth of country A's worker productivity grew faster, it must be assumed that population grew at the same rate in both countries
Each unit requires 4 hours of direct labor at a rate of $13 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $179,000 per month. Prepare a factory overhead budget for August.
Answer:
Some numbers are missing, so I looked for similar questions and found the following:
Miami solar budgets production of 5,300 solar panels for August. Each unit requires 4 hours of direct labor at a rate of $13 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $179,000 per month.
direct labor costs per unit = $13 x 4 = $52
variable overhead costs per unit = $52 x 70% = $36.40
Miami Solar
Factory Overhead Budget
For the month of August, 202x
Budgeted production units 5,300 units
Variable overhead per unit $36.40
Budgeted variable overhead $192,920
Budgeted fixed overhead $179,000
Budgeted total overhead $371,920
Joe is considering 2 similar bonds, with the only difference that: (1) a tax-exempt municipal bond promises a 5.625% annual return, (2) a taxable corporate bond promises a 7.5% annual return. If Joe's tax rate is 25%, which bond should he buy?
a. Either one, both have the same after-tax yield
b. Municipal bond, as it has a higher after-tax yield
c. Corporate bond, as it has a higher after-tax yield
d. Not enough information is given to answer the question
Answer:
a. Either one, both have the same after-tax yield
Explanation:
we have to calculate the after tax return of the bonds:
after tax return of corporate bonds = bond yield x (1 - tax rate) = 7.5% x (1 - 25%) = 7.5% x 0.75 = 5.625%
since municipal bonds are not included as part of Joe's gross income, their after tax rate is equal to their yield = 5.625%
both bonds yield the same after tax return = 5.625%
Following are the transactions of Sustain Company
June1 T. James, owner, invested $19,500 cash in Sustain Company.
2 The company purchased $12,500 of furniture made from reclaimed wood on credit.
3 The company paid $2,300 cash for a 12-month insurance policy on the reclaimed furniture.
4 The company billed a customer $11,500 in fees earned from preparing a sustainability report.
12 The company paid $12,500 cash toward the payable from the June 2 furniture purchase.
20 The company collected $11,500 cash for fees billed on June 4.
21 T.James, owner, invested an additional $18,500 cash in Sustain Company.
30 The company received $13,500 cash from a client for sustainability services for the next 3 months.
Prepare general journal entries for the above transactions
Answer:See attachment
Explanation:
The general journal of Sustain Company for the transaction incurred from 1st June to 30th June has been recorded. The journal entry shows both the debit balance and the credit balance for Sustain company.
Check the transactions for further details
Mole Mfg. has asked you to develop a chase plan for the production of its earth moving equipment. Below is the beginning inventory, monthly demand, and relevant work force information. Determine the total hire/fire costs and the number of workers employed at the end of October. Note: The ending inventory for October should be 0. July Beginning Inventory 1200: Demand is July 3300; Aug 3000; Sept 2550; Oct 2400. Hiring costs $50 per worker; firing costs $100 per worker; production rate 15 units per month per worker; starting workforce 200 workers
Answer:
Mole Mfg.
Mole's total hire/fire costs and the number of workers employed at the end of October.
a) Hire/Fire Costs
i) Hire costs = 60 * $50 = $3,000
ii) Fire costs = 100 * $100 - $10,000
b) Number of workers employed at the end of October
= 160 workers
Explanation:
a) Data and Calculations:
Inventory requirement:
Beginning Inventory 1200
Month Demand Units Production No. of Workers No. of Hire No. of Fire
Starting workforce 200
July 3300 -1,200 2,100 140 (2,100/15) 60
Aug 3000 3,000 200 (3,000/15) 60
Sept 2550 2,550 170 (2,550/15) 30
Oct 2400 2,400 160 (2,400/15) 10
Total 60 100
Problem 5-35 Comparing Cash Flow Streams [LO 1] You’ve just joined the investment banking firm of Dewey, Cheatum, and Howe. They’ve offered you two different salary arrangements. You can have $8,200 per month for the next two years, or you can have $6,900 per month for the next two years, along with a $37,000 signing bonus today. Assume the interest rate is 6 percent compounded monthly. Requirement 1: If you take the first option, $8,200 per month for two years, what is the present value? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Present value $ 139912.93 Requirement 2: What is the present value of the second option?
Answer:
PV of 1st option = $185,015.50
PV of 2nd option = $192,683.78
Explanation:
Computing the present value of the monthly payments, we use the formula [tex]PV = \frac{A(1-(1+r)^{-n}) }{r}[/tex]
Where PV = present value of the monthly payments
A = monthly salary
r = monthly interest rate = 6%/12 = 0.5% = 0.005
n = number of months = 24 months
PV of the 1st option, $8,200 monthly for the next 2 year
[tex]PV = \frac{8,200(1-(1.005)^{-24}) }{0.005}[/tex] = $185,015.50.
PV of the 2ns option, $6,900 monthly + $37,000 signing bonus
[tex]PV = \frac{6,900(1-(1.005)^{-24}) }{0.005}+37,000[/tex] = $155,683.78 + $37,000 = $192,683.78.
A company's board of directors declared a $0.80 per share cash dividend on its $2 par common stock. On the date of declaration, there were 42,000 shares authorized, 17,000 shares issued, and 6,000 shares held as treasury stock. What is the entry when the dividends are declared?
A. Dividends 5,500
Dividends Payable 5,500
B. Dividends Payable 5,500
Cash 5,500
C. Dividends 24,500
Dividends Payable 24,500
D. Dividends Payable 8,500
Cash 8,500
Answer:
Dividenda = $8,800, Dividends payable = $8,800
Explanation:
Dividends = [(Number of shares issued - Treasury stock held) * Dividend per share)
Dividends = (17,000 - 6,000) * 0.80
Dividends = 11,000 * $0.80
Dividends = $8,800
Date Account Titles and Explanation Debit Credit
Dividends $8,800
Dividends payable $8,800
(To record dividend declaration)
Discussion #6 - Inventory Methods (due Thurs/Sun) 1010 unread replies.1010 replies. The following is an excerpt from a conversation between Paula Marlo, the warehouse manager for Musick Foods Wholesale Co., and its accountant, Mike Hayes. Musick Foods operates a large regional warehouse that supplies produce and other grocery products to grocery stores in smaller communities. Paula: Mike, can you explain what's going on here with these monthly statements? Mike: Sure, Paula. How can I help you? Paula: I don't understand this last-in, first-out inventory procedure. It just doesn't make sense. Mike: Well, what it means is that we assume that the last goods we receive are the first ones sold. So the inventory consists of the items we purchased first. Paula: Yes, but that's my problem. It doesn't work that way! We always distribute the oldest produce first. Some of that produce is perishable! We can't keep any of it very long or it'll spoil. Mike: Paula, you don't understand. We only assume that the products we distribute are the last ones received. We don't actually have to distribute the goods in this way. Paula: I always thought that accounting was supposed to show what really happened. It all sounds like "make believe" to me! Why not report what really happens?
Answer:
Musick Foods Wholesale Co. is permitted by the US GAAP to use the LIFO (Last In, First Out) inventory valuation method. The use of LIFO offers Musick and other firms the opportunity to save on taxes as well as better match their revenue to their latest costs when prices are rising.
Explanation:
Using LIFO method of measuring the value of inventory, the costs of the most recent products purchased (or produced) by Musick Foods are the first to be expensed. It is not that in practice, those costs expensed refer to the units being sold first, it is merely an assumption permitted by the US FASB under her generally accepted accounting principles (GAAP).
What is the definition of punctual? a. To be accurate. b. Adapting to your surroundings. c. Being on time. d. Having the ability to do more than one task at a time.
Answer:
c. Being on time.
Explanation:
Punctual is strictly adhering to the time set. A punctual person is never late for meetings or events. It's on time.
Punctual in making payments means the payments were not delayed. Punctuality refers to the ability to follow a schedule or a timetable.
Bates Company plans to add a new item to its line of consumer product offerings. Two possible products are under consideration. Each unit of Product A costs $10 to produce and has a contribution margin of $5, while each unit of Product B costs $18 and has a contribution margin of $6. What is the differential revenue for this decision
Answer:
the Differential revenue is $9
Explanation:
The computation of the differential revenue is shown below:
Differential revenue is
= (Product B) - (Product A)
= (Cost + contribution margin) - (Cost + contribution margin)
= ($18 + $6) - ($10 + $5)
= $24 - $15
= $9
hence, the Differential revenue is $9
Therefore the same is to be considered
We simply applied the above formula
Assume that interest rate parity exists. The spot rate of the Argentine peso is $0.42. The one-year interest rate in the United States is 7 percent versus 12 percent in Argentina. Assume the futures price is equal to the forward rate. An investor purchased futures contracts on Argentine pesos, representing a total of 1,000,000 pesos. Determine the total dollar amount of profit or loss from this futures contract based on the expectation that the Argentine peso will be worth $0.46 in one year. Use a minus sign to enter a loss, if any. Do not round intermediate calculations. Round your answer to the nearest dollar.
Answer:
$58,750
Explanation:
Calculation to Determine the total dollar amount of profit or loss from this futures contract
First step is to find the Forward premium
Forward premium = (1 + .07)/ (1 + .12) -1
Forward premium= -.04464
Second step is to find the Forward rate
Forward rate = $.42 x (1 - .044640)
Forward rate=$.42×0.95536
Forward rate= $.40125
Last step is to find the profit
Profit = ($.46 - $.40125) × 1,000,000
Profit=0.05875× 1,000,000
Profit = $58,750
Therefore the total dollar amount of profit from this futures contract will be $58,750
If the liabilities of a company increased $110,000 during a period of time and equity in the company decreased $37,000 during the same period, what was the effect on the assets?
Answer:
Increase of $73,000
Explanation:
As we know that
The accounting equation is
Assets = Liabilities + Owner's Equity
So it can be said that
Change in Assets = Change in Liabilities + Change in Owner's Equity
Change in Assets = Increase of $110,000 + Decrease of $37,000
Change in Assets = Increase of $73,000
hence, the impact of the asset is $73,000 and the same is to be considered
The following selected transactions were completed by Capers Company during October of the current year:
Oct. 1
Purchased merchandise from UK Imports Co., $13,377, terms FOB destination, n/30.
3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice.
4 Purchased merchandise from Taco Co., $14,350, terms FOB destination, 2/10, n/30.
6 Issued debit memo to Taco Co. for $5,000 of merchandise returned from purchase on October 4.
13 Paid Hoagie Co. for invoice of October 3.
14 Paid Taco Co. for invoice of October 4, less debit memo of October 6.
19 Purchased merchandise from Veggie Co., $25,850, terms FOB shipping point, n/eom.
19 Paid freight of $430 on October 19 purchase from Veggie Co.
20 Purchased merchandise from Caesar Salad Co., $23,000, terms FOB destination, 1/10, n/30.
30 Paid Caesar Salad Co. for invoice of October 20.
31 Paid UK Imports Co. for invoice of October 1.
31
Paid Veggie Co. for invoice of October 19.
Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.
CHART OF ACCOUNTS
Capers Company
General Ledger
ASSETS
110
Cash
120
Accounts Receivable
125
Notes Receivable
130
Merchandise Inventory
131
Estimated Returns Inventory
140
Office Supplies
141
Store Supplies
142
Prepaid Insurance
180
Land
192
Store Equipment
193
Accumulated Depreciation-Store Equipment
194
Office Equipment
195
Accumulated Depreciation-Office Equipment
LIABILITIES
211
Accounts Payable-Caesar Salad Co.
212
Accounts Payable-Hoagie Co.
213
Accounts Payable-Taco Co.
214
Accounts Payable-UK Imports Co.
215
Accounts Payable-Veggie Co.
216
Salaries Payable
218
Sales Tax Payable
219
Customers Refunds Payable
221
Notes Payable
EQUITY
310
Owner, Capital
311
Owner, Drawing
312
Income Summary
REVENUE
410
Sales
610
Interest Revenue
EXPENSES
510
Cost of Merchandise Sold
521
Delivery Expense
522
Advertising Expense
524
Depreciation Expense-Store Equipment
525
Depreciation Expense-Office Equipment
526
Salaries Expense
531
Rent Expense
533
Insurance Expense
534
Store Supplies Expense
535
Office Supplies Expense
536
Credit Card Expense
539
Miscellaneous Expense
710
Interest Expense
Journalize the entries to record the transactions of Capers Company for October. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 10
JOURNAL
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Answer:
Oct. 1 Purchased merchandise from UK Imports Co., $13,377, terms FOB destination, n/30.
Dr Merchandise inventory 13,377
Cr Accounts payable 13,377
Oct. 3 Purchased merchandise from Hoagie Co., $10,650, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $230 was added to the invoice.
Dr Merchandise inventory 10,880
Cr Accounts payable 10,880
Oct. 4 Purchased merchandise from Taco Co., $14,350, terms FOB destination, 2/10, n/30.
Dr Merchandise inventory 14,350
Cr Accounts payable 14,350
Oct. 6 Issued debit memo to Taco Co. for $5,000 of merchandise returned from purchase on October 4.
Dr Accounts payable 5,000
Cr Merchandise inventory 5,000
Oct. 13 Paid Hoagie Co. for invoice of October 3.
Dr Accounts payable 10,880
Cr Cash 10,667
Cr Purchase discounts 213
Oct. 14 Paid Taco Co. for invoice of October 4, less debit memo of October 6.
Dr Accounts payable 9,350
Cr Cash 9,163
Cr Purchase discounts 187
Oct. 19 Purchased merchandise from Veggie Co., $25,850, terms FOB shipping point, n/eom.
Dr Merchandise inventory 25,850
Cr Accounts payable 25,850
Oct. 19 Paid freight of $430 on October 19 purchase from Veggie Co.
Dr Merchandise inventory 430
Cr Cash 430
Oct. 20 Purchased merchandise from Caesar Salad Co., $23,000, terms FOB destination, 1/10, n/30.
Dr Merchandise inventory 23,000
Cr Accounts payable 23,000
Oct. 30 Paid Caesar Salad Co. for invoice of October 20.
Dr Accounts payable 23,000
Cr Cash 22,770
Cr Purchase discounts 230
Oct. 31 Paid UK Imports Co. for invoice of October 1.
Dr Accounts payable 13,377
Cr Cash 13,377
Oct. 31 Paid Veggie Co. for invoice of October 19.
Dr Accounts payable 25,850
Cr Cash 25,850
Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $107,000 in sales during the second quarter of this year. If it began the quarter with $18,700 of inventory at cost and purchased $72,700 of inventory during the quarter, its estimated ending inventory by the gross profit method is:
Answer:
$16,500
Explanation:
The computation of the estimated ending inventory is given below:
As We know that
Cost of goods sold = Beginning inventory + purchase made - ending inventory
And, the
Sales - gross profit = Cost of goods sold
So,
$107,000 - $107,000 × 30% = Cost of goods sold
Therefore, the cost of goods sold is
= $107,000 - $32,100
= $74,900
And, finally the ending inventory is
$74,900 = $18,700 + $72,700 - ending inventory
$74,900 = $91,400 - ending inventory
So, the ending inventory is
= $91,400 - $74,900
= $16,500
Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $3,000 in the bank and leave it there: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. How much interest will you earn in the first year?
Answer:
Interest= $90
Explanation:
Giving the following information:
Initial investment= $3,000
i= 3%
Number of periods= 1
First, we need to calculate the future value, using the following formula:
FV= PV*(1+i)^n
FV= 3,000*1.03= $3,090
Now, the interest earned:
Interest= 3,090 - 3,000
Interest= $90
The centralized computer technology department of Hardy Company has expenses of $320,000. The department has provided a total of 4,000 hours of service for the period. The Retail Division has used 2,750 hours of computer technology service during the period, and the Commercial Division has used 1,250 hours of computer technology service. Use the following data: Retail Division Commercial Division Sales $2,150,000 $1,200,000 Cost of goods sold 1,300,000 800,000 Selling expenses 150,000 175,000 Required: Determine the divisional income from operations for the Retail Division and the Commercial Division. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Answer:
Retail Division = $480,000
Commercial Division = $125,000
Explanation:
Divisional income from operations for the Retail Division and the Commercial Division
Retail Division Commercial Division
Sales $2,150,000 $1,200,000
Cost of goods sold ($1,300,000) ($800,000)
Controllable Contribution $850,000 $400,000
Less Expenses
Selling expenses ($150,000) ($175,000)
Allocated Central Costs ($220,000) ($100,000)
Net Income before tax $480,000 $125,000
Calculations :
Allocation of Central Costs :
Retail Division (2,750/ 4,000 × $320,000) = $220,000
Retail Division (1,250/ 4,000 × $320,000) = $100,000
Cutting flights and declaring bankruptcy are long-run decisions. What impact would you predict these actions would have on the airlines remaining in business?
Answer:
Follows are the solution to this question:
Explanation:
The declaration of bankruptcy as well as flight cutting reduces the amount for flights and also the flight sin operation leading to both a supply reduction. While the business continued, its other airlines will have an increased engagement and thus higher prices and will be seeing recovery for both the airline industry over an amount of time.
Felicia works for a news organization as a reporter. For the most part her work is solitary, and she only has brief communications via email or telephone with her editor (her boss) when she submits her stories. While Felicia is a good news reporter, the economy has taken a downfall and the organization likely will have to lay off some employees. Felicia is most likely to perceive this situation as:
Answer:
The correct answer is: Personal threat
Explanation:
Analyzing the above scenario, Felicia is considered more likely to perceive this situation as a personal threat.
This is due to her job function, which is a good news reporter, and with the economy declining and the organization will probably have to fire some employees, she feels threatened personally, as she is more likely to realize that the economic situation negative will directly influence the good news that she sends to the news agency, so she feels that this situation is threatening to the performance of her work and the agency may fire her because there is no good news for publication.
What term is used to describe a technical, physical, or administrative process designed to reduce risk?
Answer:
Control
Explanation:
Control in management as well as organization is very essential, it is very crucial for organization to achieve their goals. Control helps in the area of taking corrective measures whenever the needs arrises. It involves using technical as well as physical method in regulation of activities within an organization which will later reduces risk. It should be noted that control is
used to describe a technical, physical, or administrative process designed to reduce risk.
Would you rather own your own business or become a franchise
Answer:
own a business
Explanation:
I'm able to create my own brand and free to do what I want
Answer:
{: Own My Own Business :}
Explanation:
I would rather own my own business so that I could get lots of money yet give other people money ^w^ It would also be a restaurant. Most likely so I could eat da food as in.. 'taste' da food. :}
A cement manufacturer has supplied the following data:
Tons of cement produced and sold 240,000
Sales revenue $1,008,000
Variable manufacturing expense $439,000
Fixed manufacturing expense $236,000
Variable selling and administrative expense $41,000
Fixed selling and administrative expense $226,000
Net operating income $66,000
What is the company's unit contribution margin?
a. $4.20 per unit.b. $0.22 per unit.c. $2.20 per unit.d. $2.00 per unit.
Answer:
Unitary contribution margin= $2.2
Explanation:
Giving the following information:
Tons of cement produced and sold 240,000
Sales revenue $1,008,000
Variable manufacturing expense $439,000
Variable selling and administrative expense $41,000
First, we need to calculate the total contribution margin:
Total contribution margin= 1,008,000 - 439,000 - 41,000
Total contribution margin= $528,000
Now, the unitary contribution margin:
unitary contribution margin= 528,000/240,000
unitary contribution margin= $2.2
The funded status of Hilton Paneling Inc.'s defined benefit pension plan and the balances in prior service cost and the net gain–pensions, are given below. ($ in 000s) 2021 2021 Beginning Balances Ending Balances Projected benefit obligation $ 2,300 $ 2,501 Plan assets 2,400 2,591 Funded status 100 90 Prior service cost–AOCI 325 300 Net gain–AOCI 330 300 Retirees were paid $270,000, and the employer contribution to the pension fund was $245,000 at the end of 2021. The expected rate of return on plan assets was 10%, and the actuary’s discount rate is 7%. There were no changes in actuarial estimates and assumptions regarding the PBO. Required: 1. Determine the actual return on plan assets of 2021. 2. Determine the loss or gain on plan assets of 2021. 3. Determine the service cost of 2021. 4. Determine the pension expense of 2021. 5. Average remaining service life of active employees (used to determine amortization of the net gain).
Answer:
1. Actual return on Plat assets
= Ending plan assets - beginning assets - employer contribution + retirees payment
= 2,591 - 2,400 - 245 + 270
= $216,000
2. Gain(loss) on plan assets
= Actual return - expected return
= 216,000 - (10% * 2,400,000-beginning assets)
= ($24,000) loss
3. Service cost
= Ending Projected benefit obligation - Beginning Projected benefit obligation - Interest cost + Retiree benefits
= 2,501 - 2,300 - (7% * 2,300) + 264
= $304,000
4. Pension expense
= Interest cost + expected return + Amortization of prior service cost + amortization of net gain + Service cost
= Interest cost + expected return + (beginning prior service cost - ending prior cost) + (Beginning net gain - ending net gain - loss on plan asset) + Service cost
= (7% * 2,300) + 240 + (325 - 300) + (330 - 300 - 24) + 304
= $736,000
5. Average remaining service life of active employees
= (Beginning Net gain - expected return) / Amortization of net gain
= (330 - 300) / (330 - 300 - 24)
= 5 years
HELP PLEASE.
Recent research indicates that it may take only a few minutes to prevent unethical behavior. When workers face a choice between right and
wrong, they are about five times more likely to make the unethical choice when the decision is rushed.* Think about times in your life when you faced a moral decision and made the wrong choice. Did you feel rushed to make the decision? If you had taken more time to think or consult an ethical colleague, would you have made a different decision? (5-7 sentences )
Answer:
I had once visited a client and he, unusually, offered me a complimentary tip. Somewhere at the back of my mind, it felt off. So I declined. He on the other hand persisted.
Because I wanted to round up the meeting, I eventually accepted and left.
The next day was our weekly in-house academy - a day of the week when we set aside about 2 hours for learning and re-learning.
At that meeting, the HR Executive did a reminder on the value of the organisation, as well as the ethics which guide our operations. There she mentioned categorically that it was prohibited by the company to accept any type of cash gifts from the client or from the insurance companies.
As, soon as the meeting was done, I reported myself to the HR Executive and she advised that I return it and I did immediately, thankfully, the exact note was still in my possession.
I wrote a letter to the client respectfully returning the gift on the grounds that company policy forbade it and that marked the end of that episode.
If I had the company blueprint on ethics at my fingertips, I would have insisted on my initial position not to take the gift.
Cheers
Acme-Jones Corporation uses a weighted-average perpetual inventory system. August 2, 40 units were purchased at $27 per unit. August 18, 24 units were purchased at $29 per unit. August 29, 42 units were sold. What was the amount of the cost of goods sold for this sale?
Answer:Cost of goods sold=$1,165.5
Explanation:
Using the weighted-average perpetual inventory system.
August 2 =40 units x $27per unit = $1080
August 18=24units x $29 per unit = $696
Weighted average cost per unit = (1080 + 696)/64 = $27.75per unit
Therefore, Cost of goods sold = $27.75 x 42 = $1,165.5
Marr Co. had the following sales and accounts receivable balances, prior to any adjustments at year end: Credit sales $10,000,000 Accounts receivable 3,000,000 Allowance for uncollectible accounts (debit balance) 50,000 Marr uses 3% of accounts receivable to determine its allowance for uncollectible accounts at year end. By what amount should Marr adjust its allowance for uncollectible accounts at year end
Answer:
$140,000
Explanation:
The computation is shown below:
Ending allowance for uncollectible accounts is
= Accounts receivable × Given percentage
= $3,000,000 × 3%
= $90,000
Now the
Adjusted balance is
= Ending allowance for uncollectible accounts + debit balance of Allowance for uncollectible accounts
= $90,000 + $50,000
= $140,000
A firm has fixed operating costs of $10,000, the sale price per unit of its product is $25, and its variable cost per unit is $15. The firm's operating breakeven point in units is ________ and its breakeven point in dollars is ________.
A) 1,000; $6,250.
B) 400; $10,000.
C) 400; $25,000.
D) 1,000; $25,000.
Answer:
The correct answer is D.
Explanation:
Giving the following information:
Fixed costs= $10,000
Selling price= $25
Unitary variable cost= $15
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= 10,000 / (25 - 15)
Break-even point in units= 1,000
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 10,000 / (10/25)
Break-even point (dollars)= $25,000
Answer:
D) 1,000; $25,000.
Explanation:
Let us assume the company produces x units. The total cost is:
Total cost = fixed cost + variable cost × number of items = $10000 + 15 × x = 10000 + 15x
The revenue = number of unit × price per unit = x × $25 = 25x
At breakeven, the revenue and cost are equal, therefore:
25x = 10000 + 15x
25x - 15x = 10000
10x = 10000
x = 10000/10
x = 1000 units
The price at breakeven point = 25x = 25(1000) = $25000
Straight Industries purchased a large piece of equipment on January 1, 2016. Straight Industries signed a note, agreeing to pay $400,000 for the equipment on December 31, 2018. The market rate of interest for similar notes was 8%. The present value of $400,000 discounted at 8% for three years was $317,520. On January 1, 2016, Straight Industries recorded the purchase with a debit to equipment for $317,520 and a credit to notes payable for $317,520. Assuming no adjusting entries have been made during the year, the interest expense accrued at December 31, 2016 is closest to:
Answer:
$25,402
Explanation:
Calculation for the amount of interest accrued at December 31, 2016
Using this formula
Interest expense accrued= 2016 Beginning Note payable liability*Interest rate
Let plug in the formula
Interest expense accrued =$317,520*8%
Interest expense accrued =$25,402
Therefore the interest expense accrued at December 31, 2016 is closest to $25,402
If you are interested in working for a specific company, what type of job site should you look at for opening?
a. Geographic specific site
b. Industry specific site
C. Company site
d. General job site
Please select the best answer from the choices provided
А
B
С
D
Answer:
B. industry specific site
An industry specific site is the type of job site should you look at for opening. Hence, option B is correct.
As the term implies, "industry specific software" refers to any digital solution made specifically for a certain industry or specialized market. Despite the fact that every business is unique, not all need an expensive custom software solution.
Understanding market trends and best practices also means knowing how to put them into practice as efficiently as possible. A startup founder or a small business owner can greatly benefit from industry-specific solutions and insights in gaining a competitive edge.
Industries are frequently divided into categories based on the goods and services they provide. For instance, the pizza sector encompasses all businesses that produce and promote pizza.
Thus, option B is correct.
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Como podemos definir la Maquila.
Frente a la competencia en el mercado, cuales son los objetivos que persiguen las empresas multinacionales con la creación del sistema de maquilas en la producción de bienes?
Por qué la maquila se convierte en un factor que favorece la capacidad de competencia de las empresas multinacionales en el mercado.
Qué ventajas brinda el fenómeno maquilador a los consumidores finales de los bienes.
Cuales empresas salen perjudicadas en el mercado municipal, por la competencia de la maquila controlada por las multinacionales y las familias ricas de la economía nacional y Por Qué.
Answer:
Como podemos definir la Maquila.
Una maquila es una empresa manufacturera que importa materia prima sin aranceles de un país determinado, la transforma en producto terminado, y luego vende ese producto terminado en el país de donde importó la materia prima en primer lugar.
Frente a la competencia en el mercado, cuales son los objetivos que persiguen las empresas multinacionales con la creación del sistema de maquilas en la producción de bienes?
Las multinacionales persiguen abaratar costos con las maquilas. En un entorno competitivo, tener unos costos de producción más bajos es una de las mejores estrategias corporativas ya que esto genera precios más bajos.
Por qué la maquila se convierte en un factor que favorece la capacidad de competencia de las empresas multinacionales en el mercado.
Porque les permite producir bienes a precios más bajos.
Qué ventajas brinda el fenómeno maquilador a los consumidores finales de los bienes.
Los consumidores se benefician de poder comprar productos más baratos, lo que significa que su ingreso rinde más.
Cuales empresas salen perjudicadas en el mercado municipal, por la competencia de la maquila controlada por las multinacionales y las familias ricas de la economía nacional y Por Qué.
Las empresas que salen perjudicadas son aquellas que no pueden competir con los bajos costos y las economías de escala de las compañías multinacionales que tienen maquilas, y que por ésta razón, terminan ofreciendo productos más costosos, lo que repercute de forma negativa en su nivel de ventas.
If a check correctly written and paid by the bank for $649 is incorrectly recorded on the company's books for $694, the appropriate treatment on the bank reconciliation would be to
Answer: Add $45 to the book balance
Explanation:
This is a case of bank reconciliation. Bank reconciliation occurs when the account of the bank and the company or Business are compared in order to check the differences which are then reconciled.
In this case, since the check written and paid by the bank is $649 while in the company's book, it's written as $694, then a book balance of $45 is added which is the difference between $694 and $649