A project has annual depreciation of $25,500, costs of $101,900, and sales of $150,500. The applicable tax rate is 34 percent. What is the operating cash flow

Answers

Answer 1

Answer:

$48,600

Explanation:

Operating Cash flow is the cash generated from operating/trading activities of a firm. It is very important to include only the cash transactions and ignore any non -cash items.

Thus,

Operating Cash flow = $150,500 - $101,900

                                   = $48,600


Related Questions

One of your suppliers has been providing LED lights for your facilities for several years. One of the new hires on the maintenance staff reports that he noticed a discrepancy between the model numbers of the LEDs he has been replacing in the fixtures and the model numbers cited in the work orders. When you call the maintenance director, she assures you the specifications are the same for both models with regard to luminous emittance (lux measurement). She is an engineer so you should ignore the lower ranking, inexperienced person's report (especially since he isn't in your chain of command).

a. True
b. False

Answers

The answer should be True

Please help me!! I don’t understand :(

How did the recession influence the drug-naming process?

Answers

Answer:

Less economically stable countries implemented more pharmaceutical policy changes during the recession than economically stable countries. Unexpectedly, pharmaceutical sales volumes increased in almost all countries, whereas sales values declined, especially in less stable countries.

Hopefully this is right, there wasn't many articles on this topic.

The recession has caused many medications to be reformulated with cheaper ingredients that make them more affordable for the public. This reformulation forced a new name for medicines.

This happened because:

In times of economic recession, the entire economy of the country is deficient.This affects all industries in a very imposing way, as they can be left with poor economic conditions, which promotes a cost cut.One of the ways to promote this cost cut is with the reformulation of products, which start using alternative and cheaper materials in their compositions.This also makes the price of the product more accessible to consumers, since, in periods of recession, the consumer's purchasing power decreases.

This reformulation process is very impactful on the pharmaceutical industry, since, in some cases, the change of materials in the composition of medications, forces the name of these medications to be changed, as the formulation is different.

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On September 1 of the current year, Scots Company experienced a flood that destroyed the company's entire inventory. Because the company had not completed its month end reporting for August, it must estimate the amount of inventory lost using the gross profit method. At the beginning of August, the company reported beginning inventory of $215,950. Inventory purchased during August was $192,730. Net sales for the month of August were $543,500. Assuming the company's typical gross profit ratio is 40%.

Required:
Estimate the amount of inventory destroyed in the flood.

Answers

Answer:

$82,580

Explanation:

We can calculate the estimated amount of inventory destroyed in the flood by deducting the cost of goods sold by the cost of goods available for sale.

DATA

Beginning Inventory  = $215,950  

Inventory purchased  = $192,730

 Sales = $543,500

Calculation

Inventory destroyed  Iestimated) =    Cost of Goods available for sale - Cost of Goods Sold

Inventory destroyed  Iestimated) =  $408,680  - $326,100

Inventory destroyed  Iestimated) = $82,580

Working

Cost of Goods available for sale  = Beginning Inventory + Inventory purchased

Cost of Goods available for sale = $215,950   + $192,730

  Cost of Goods available for sale = $408,680

Cost of Goods Sold  = Sales  - Gross Profits

Cost of Goods Sold = $543,500  - ($543400 x 40%)

Cost of Goods Sold = $ 326,100

1
Type the correct answer in the box. Spell all words correctly.
What happens to your tax liability with proper financial planning?
You can
your tax liability through proper financial planning.

Answers

It goes to the government and the congress branch

Answer: minimize

Explanation:

suppose that we are in butter market and the government implements an excise tax on butter. the price elasticity of demand for butter equals 2 and the price elasticity of supply for butter equals 2. what is the portion of the tax that consumers will be burdened with? is this realistic given the market we are in?

Answers

Answer:

Portion of tax burden shared by buyers (consumers) & sellers will be equal, ie half half each.

Explanation:

When an indirect tax, whose burden & incidence are on different people, (like excise tax) is levied : Its burden is borne more by buyers if demand is relatively more inelastic (or less elastic), & more by sellers if supply is relatively less inelastic (or less elastic).

Given, price elasticity of demand & supply both = 2 respectively. So, excise tax burden is shared by both buyer & sellers equally, as both demand & supply are equally price elastic.

On an average hourly basis, how much does Butcher Enterprises spend on wages and benefits, respectively, in dollars?

Answers

Answer:

i think his/her manager will decide that

Explanation:

Answer:

I'm sorry I just need points so I don't have to watch adds

Electronic Distribution has a defined benefit pension plan. Characteristics of the plan during 2021 are as follows: ($ millions)


PBO balance, January 1 $530
Plan assets balance, January 1 300
Service cost 50
Interest cost 30
Gain from change in actuarial assumption 36
Benefits paid (46 )
Actual return on plan assets 23
Contributions 2021 40

The expected long-term rate of return on plan assets was 9%. There were no AOCI balances related to pensions on January 1, 2021, but at the end of 2021, the company amended the pension formula, creating a prior service cost of $18 million.

Required:
a. Calculate the pension expense for 2021.
b. Prepare the journal entries to record (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of benefits for 2021.
c. What amount will Electronic Distribution report in its 2021 balance sheet as a net pension asset or net pension liability?

Answers

Answer:

Please see below

Explanation:

1. Calculate the pension expense for 2021.

($ millions)

Service cost. $50

Interest cost. $30

Expected return on the plan assets

(1,300 × 6%). ($78)

Amortization of prior service cost $

Amortization of net gain or loss - AOCI $

Pension expense $2

2. Journal expense to record pension expense, gains or losses, prior service cost, funding and payment of benefits for 2021.

1.

Pension expense. Dr $2

Plan assets [expected return on assets] Dr $78

To PBO (50 + 30) Cr $80

(To record the pension expense)

2.

Prior service cost - OCI Dr $18

To PBO Cr $18

(To record the prior service cost)

3.

PBO Dr $36

To Gain - OCI Cr $36

(To record the gain from change in actuarial assumption)

4.

Loss- OCI [1,300 × 6%] - ($23). Dr $55

To Plan assets Cr. $55

(To record the gain or loss on assets)

5.

Plan assets. Dr $40

To Cash Cr. $40

(To record the funding)

6.

PBO Dr $46

To Plan assets. Cr 46

(To record the retiree benefits)

3. What amount will electronic distribution report in its 2021 balance sheet as a net pension asset or net pension liability.

PBO balance, Jan 1 $530

Service cost. $50

Interest cost. $30

Gain from change in actuarial assumption. ($36)

Prior service cost(New). $18

Benefit paid ($46)

PBO balance, December 31. $546

Plan assets balance, Jan 1. $300

Actual return on plan assets $23

Contributions $40

Benefits paid ($46)

Plan assets balance, December 31 $317

PBO balance, December 31 $546

Plan assets balance, December 31 $317

Net pension liability. $229

Explain the manufacturing sector

Answers

Answer:

The manufacturing sector, as defined by the U.S. government, “comprises establishments. engaged in the mechanical, physical, or chemical transformation of materials, substances, or. components into new products,” as well as those engaged in “assembling of component parts of.

Explanation:

The branch of manufacture and trade based on the fabrication, processing, or preparation of products from raw materials and commodities. This includes all foods, chemicals, textiles, machines, and equipment.

According to the table, which religion had the most active congregations in New Jersey in 1765?


New Jersey – Active Congregations (1765)

Answers

Answer:

Presbyterian

39

Dutch Reformed

Explanation:

just did it on edge ooga booga

Answer:

According to the table, which religion had the most active congregations in New Jersey in 1765?

✔ Presbyterian

How many Quaker congregations were there in 1765?  

✔39

There were the same number of Church of England congregations in New Jersey as

✔Dutch Reformed congregations.

Explanation:

You are considering purchasing stock in Canyon Echo. You feel the company will increase its dividend at 4.3 percent indefinitely. The company just paid a dividend of $3.26 and you feel that the required return on the stock is 10.5 percent. What is the price per share of the company's stock

Answers

Answer: $54.84

Explanation:

Here, the price per share will be calculated as per the constant growth formula :  Price = (Dividend x (1+growth rate)) ÷ (return rate - growth rate)

Dividend $3.26 , growth rate = 4.3%=0.043 , return rate = 0.105

[tex]\text{Price}=\dfrac{3.26\times(1+0.043)}{0.105-0.043}\\\\=\dfrac{3.26\times(1.043)}{0.062}\\\\=\dfrac{3.40018}{0.062}\approx\ \$54.84[/tex]

Hence, the price per share of the company's stock = $54.84

1. All receivables that are expected to be realized in cash within a year are reported in the __________ section of the balance sheet. current assets investments noncurrent assets current liabilities

Answers

Answer:

A. current assets

Explanation:

In Financial accounting, Accounts Receivable are considered to be a current asset because it is the payment a business firm would receive from its customers for goods purchased or services taken on credit. Also, accounts receivable are recorded in the current assets section of the balance sheet because they add value to a business firm.

Generally, current assets are considered to be liquid because they are listed on the balance sheet in the order (descending) in which they are expected to turn or be converted to cash within a relatively short term period.

Hence, receivables are current assets on the balance sheet, which are listed in order of liquidity.

All receivables that are expected to be realized in cash within a year are reported in the current assets section of the balance sheet.

At December 31, DePaul Corporation had the following cumulative temporary differences associated with its operations:_____.
1. Estimated warranty expense, $40 million temporary difference: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty).
2. Depreciation expense, $120 million temporary difference: straight-line in the income statement; MACRS on the tax return.
3. Income from installment sales of properties, $60 million temporary difference: income recorded in the year of the sale; taxable when received equally over the next five years.
4. Rent revenue collected in advance, $40 million temporary difference; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year.
Required: Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 25%. (Enter your answer In millions (I.e., 10,000,000 should be entered as 10).)
_______ million

Answers

Answer and Explanation:

The computation is shown below:

Net deferred tax liability is

= (Taxable temporary differences - Deductible temporary differences) × Tax rate

= ($120 million + $60 million - $40 milllion - $40 million) × 25%

= $25 million

Hence, it shows the net deferred tax liability of $25 million and the same is to be considered

Burke Company has a break-even of $600,000 in total sales. Assuming the company sells its product for $40 per unit, what is its margin of safety in units if sales total $1,000,000

Answers

Answer:

The margin of safety in units is 10,000 units

Explanation:

The computation of the margin of safety in units is shown below:

The Margin of safety in units is

= Budgeted or actual sales - break even sales

= ($1,000,000 ÷ $40 per unit) - ($600,000 ÷ $40 per unit)

= 25,000 units - 15,000 units

= 10,000 units

Hence, the margin of safety in units is 10,000 units

On December 31, 2019, Main Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1, $360,000; June 1, $600,000; July 1, $1,500,000; December 1, $1,500,000. The building was completed in February 2021. Additional information is provided as follows.
1. Other debt outstanding 10.year, 13% bond, December 31, 2013, interest payable annually $4,000,000 6-year, 10% note, dated December 31, 2017, interest payable annually $1,600,000
2. March 1, 2020, expenditure included land costs of $150,000
3. Interest revenue earned in 2020 $49,000
Instructions:
Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building.The amount of interest $SHOW LIST OF ACCOUNTSPrepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Date Account Titles and Explanation Debit CreditDecember 31, 2020

Answers

Answer:

A. Avoidable interest cost= $183,000

B. Dr Building 183, 000

Dr Interest expense 857,000

Cr Cash 1,040,000

Explanation:

A. Calculation to Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building

Expenditure 2020 Average investment

Mar-01 $ 360,000 *10//12= 300,000

Jun-01 $ 600,000* 7//12=350,000

Jul-01 $ 1,500,000 *6//12= 750,000

Dec-01 $ 1,500,000 *1//12= 125,000

Total Average investment $1,525,000

Loans Issued Actual interest cost

12% to finance construction $ 3,000,000 12/31/19 $360,000

(12%*3,000,000=360,000)

13% bond $ 4,000,000 years ago $ 520,000

(13%*4,000,000=520,000)

10% bond $ 1,600,000 years ago $ 160,000

(10%*1,600,000)

Total $1,040,000

Average investment = $1,525,000

Avoidable interest cost = $1,525,000* 12%

Avoidable interest cost= $183,000

B. Preparation of the journal entry to record the capitalization of interest and the recognition of interest expense

31/12/2020

Dr Building 183, 000

Dr Interest expense 857,000

(1,040,000-183,000)

Cr Cash 1,040,000

Cullumber Company has the following balances in selected accounts on December 31, 2020.
Accounts Receivable $ 0
Accumulated Depreciation—Equipment 0
Equipment 8,000
Interest Payable 0
Notes Payable 11,000
Prepaid Insurance 3,120
Salaries and Wages Payable 0
Supplies 2,200
Unearned Service Revenue 28,000
All the accounts have normal balances. The information below has been gathered at December 31, 2020.
1. Cullumber Company borrowed $9,400 by signing a 9%, one-year note on September 1, 2020.
2. A count of supplies on December 31, 2020, indicates that supplies of $970 are on hand.
3. Depreciation on the equipment for 2020 is $2,000.
4. Cullumber Company paid $3,120 for 12 months of insurance coverage on June 1, 2020.
5. On December 1, 2020, Cullumber collected $28,000 for consulting services to be performed from December 1, 2020, through March 31, 2021. The company had performed 1/4 of the services by December 31.
6. Cullumber performed consulting services for a client in December 2020. The client will be billed $4,200.
7. Cullumber Company pays its employees total salaries of $5,600 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2020.
Prepare adjusting entries for the seven items described above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Answers

Answer:

1. Cullumber Company borrowed $9,400 by signing a 9%, one-year note on September 1, 2020.

Dr Cash 9,400

    Cr Notes payable 9,400

December 31, 2020, adjusting entry

Dr Interest expense 282

    Cr Interest payable 282

2. A count of supplies on December 31, 2020, indicates that supplies of $970 are on hand.

December 31, 2020, adjusting entry

Dr Supplies expense 1,230

    Cr Supplies 1,230

3. Depreciation on the equipment for 2020 is $2,000.

December 31, 2020, adjusting entry

Dr Depreciation expense 2,000

    Cr Accumulated depreciation, equipment 2,000

4. Cullumber Company paid $3,120 for 12 months of insurance coverage on June 1, 2020.

December 31, 2020, adjusting entry

Dr Insurance expense 1,820

    Cr Prepaid insurance 1,820

5. On December 1, 2020, Cullumber collected $28,000 for consulting services to be performed from December 1, 2020, through March 31, 2021. The company had performed 1/4 of the services by December 31.

Dr Cash 28,000

    Cr unearned revenue 28,000

December 31, 2020, adjusting entry

Dr Unearned revenue 7,000

    Cr Service revenue 7,000

6. Cullumber performed consulting services for a client in December 2020. The client will be billed $4,200.

December 31, 2020, adjusting entry

Dr Accounts receivable 4,200

    Cr Service revenue 4,200

7. Cullumber Company pays its employees total salaries of $5,600 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2020.

December 31, 2020, adjusting entry

Dr Wages expense 3,360

    Cr Wages payable 3,360

York’s outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends:
2015 $20,000
2016 28,000
2017 200,000
2018 350,000
Determine the amount of dividends paid each year to each of the two classes of stockholders: preferred and common. Also compute the total dividends paid to each class for the four years combined.
par value dividend dividend number of preferred annual
per preffered rate per preffered preffered divedends preffered
share share shares dividend
total cash paid to paid to dividend in
dividend preferred common arrears at
paid year-end
2015 20000 20000
2016 28000 28000
2017 200000
2018 350000 30000 320000
totals 598000 78000 320000

Answers

Answer:

total non-cumulative preferred stock dividends per year = 80,000 x 7.5% x $5 = $30,000

since the bonds are non-cumulative, if the dividends are not paid during one year, they are basically lost since they will not be paid in the future.

year

2015: $20,000 distributed to preferred stockholders

$0.25 per preferred stock$0 to common stockholders

2016: $28,000 distributed to preferred stockholders

$0.35 per preferred stock$0 to common stockholders

2017: $30,000 distributed to preferred stockholders, $170,000 distributed to common stockholders

$0.375 per preferred stock$0.85 per common stock

2018: $30,000 distributed to preferred stockholders, $320,000 distributed to common stockholders

$0.375 per preferred stock$1.60 per common stock

 

Dividends paid during the 4 year period:

Preferred stockholders received $108,000 in total

$1.35 per preferred stock

Common stockholders received $490,000 in total

$2.45 per common stock

The total dividend for the preferred stockholders is $108000 while the value for the common stock holders will be $490000.

The value of the dividends paid during the four year period for the preferred stockholders will be:

= $20000 + $28000 + $30000 + $30000

= $108000

The value of the dividends paid during the four year period for the common stockholders will be:

= $170000 + $320000

= $490000

The dividend per preferred stock will be:

= $0.25 + $0.35 + $0.375 + $0.375

= $1.35

The dividend per common stock will be:

= $0.85 + $1.60

= $2.45

Learn more about dividends on:

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when is y'all birthday i'm trying to see if i have the same birthday as somebody

Answers

Answer:

6th October, when is yours..?

Mines is June 15 yurr

Lansbury Inc. had the following balance sheet at December 31, 2019.

LANSBURY INC. BALANCE SHEET DECEMBER 31, 2019

Cash $20,000 Accounts payable $30,000
Accounts receivable 21,200 Notes payable (long-term) 41,000
Investments 32,000 Common stock 100,000
Plant assets (net) 81,000 Retained earnings 23,200
Land 40,000 $194,200
$194,200

During 2021 the following occurred:

1. Lansbury Inc. sold part of its investment portfolio for $15,000 This transaction resulted in a gain of $3,400 for the firm. The company classifies its investments as available-for- sale.
2. A tract of land was purchased for $18,000 cash.
3. Long-term notes payable in the amount of $16,000 were retired before maturity by paying $16,000 cash.
4. An additional $20,000 in common stock was issued at par.
5. Dividends totaling $8,200 were declared and paid to stockholders.
6. Net income for 2021 was $32,000 after allowing for depreciation of $11,000
7. Land was purchased through the issuance of $30,000 in bonds.
8. At December 31, 2021, Cash was $32,000 Accounts Receivable was $41,600 and Accounts Payable remained at $30,000

Requried:
a. Prepare a statement of cash flows for 2017.
b. Prepare an unclassified balance sheet as it would appear on December 31, 2017.
c. Compute two cash flow ratios.

Answers

Answer:

LANSBURY INC.

Statement of Cash Flows

For the year ended December 31, 2021

Cash flows from operating activities:

Net income                                                                         $32,000

Adjustments to net income:

Depreciation expense $11,000- Gain on sale of investment portfolio ($3,400)- Increase in accounts receivable ($20,400)         ($12,800)

Net cash from operating activities                                   $19,200

Cash flows from investing activities:

Sale of investment portfolio                                             $15,000

Purchased land                                                               ($30,000)

Purchased land                                                               ($18,000)

Net cash from investing activities                                 ($33,000)

Cash flow from financing activities:

Issuance of common stock                                             $20,000

Issuance of bonds                                                           $30,000

Retirement of notes payable                                         ($16,000)

Dividends paid                                                                 ($8,200)

Net cash from financing activities                                  $25,800

Net cash increase                                                           $12,000

Beginning cash balance                                                $20,000

Ending cash balance                                                     $32,000

b. Prepare an unclassified balance sheet as it would appear on December 31, 2017.

LANSBURY INC.

Balance Sheet

For the year ended December 31, 2021

Assets:

Cash $32,000

Accounts receivable $41,600

Investments $20,400

Plant assets, net $70,000

Land $88,000

Total assets $252,000

Liabilities:

Accounts payable $30,000

Notes payable $25,000

Bonds payable $30,000

Total liabilities $85,000

Stockholders' Equity:

Common stock $120,000

Retained earnings $47,000

Total stockholders' equity $167,000

Total liabilities + equity $252,000

c. cash flow coverage ratio =  operating cash flows / total liabilities = $19,200 / $85,000 = 0.23

current liability coverage ratio =  operating cash flows / current liabilities = $19,200 / $30,000 = 0.64

The following transactions apply to Jova Company for Year 1, the first year of operation:

a. Issued $17,000 of common stock for cash.
b. Recognized $63,000 of service revenue earned on account.
c. Collected $56,400 from accounts receivable.
d. Paid operating expenses of $36,600.
e. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account.

The following transactions apply to Jova for Year 2:

a. Recognized $70,500 of service revenue on account.
b. Collected $64,400 from accounts receivable.
c. Determined that $860 of the accounts receivable were uncollectible and wrote them off.
d. Collected $300 of an account that had previously been written off.
e. Paid $48,100 cash for operating expenses.
f. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 percent of sales on account.

Required:
a. Identify the type of each transaction (asset source, asset use, asset exchange, or claims exchange).
b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows.
c. Prepare closing entries and post these closing entries to the T-accounts. Prepare the postclosing trial balance.

Answers

Answer:

Year 1:

a. Issued $17,000 of common stock for cash.  ⇒ ASSET SOURCE

Dr Cash 17,000

    Cr Common stock 17,000

b. Recognized $63,000 of service revenue earned on account.  ⇒ ASSET SOURCE

Dr Accounts receivable 63,000

    Cr Service revenue 63,000

c. Collected $56,400 from accounts receivable.   ⇒ ASSET EXCHANGE

Dr Cash 56,400

    Cr Accounts receivable 56,400

d. Paid operating expenses of $36,600.   ⇒ ASSET USE

Dr Operating expense 36,600

    Cr Cash 36,600

e. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. ⇒ ASSET USE  

Dr Bad debt expense 132

    Cr Allowance for doubtful accounts 132

Year 2:

a. Recognized $70,500 of service revenue on account.   ⇒ ASSET SOURCE

Dr Accounts receivable 70,500

    Cr Service revenue 70,500

b. Collected $64,400 from accounts receivable.  ⇒ ASSET EXCHANGE

Dr Cash 64,400

    Cr Accounts receivable 64,400

c. Determined that $860 of the accounts receivable were uncollectible and wrote them off.  ⇒ ASSET EXCHANGE

Dr Bad debt expense 860

    Cr Accounts receivable 860

d. Collected $300 of an account that had previously been written off.  ⇒ ASSET EXCHANGE

Dr Accounts receivable 300

    Cr Bad debt expense 300

Dr Cash 300

    Cr Accounts receivable 300

e. Paid $48,100 cash for operating expenses.  ⇒ ASSET USE

Dr Operating expense 48,100

    Cr Cash 48,100

f. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 percent of sales on account.  ⇒ ASSET USE

Dr Bad debt expense 117

    Cr Allowance for doubtful accounts 117

trial balance year 1

Dr Cash 36,800

Dr Accounts receivable 6,468

Cr Common stock 17,000

Cr Service revenue 63,000

Dr Operating expense 36,600

Dr Bad debt expense 132

Income Statement

Year 1

Service revenue                                       $63,000

Expenses:

Operating expense $36,600Bad debt expense $132                 ($36,732)

Net income                                                $26,268

Balance Sheet

Year 1

Assets:

Cash $36,800

Accounts receivable $6,468

Total Assets $43,268

Equity:

Cr Common stock 17,000

Retained earnings $26,268

Total equity $43,268

Statement of changes in stockholders' equity

Year 1

Beginning balance                       $0

Common stock issued               $17,000

Net income                                $26,268

Ending balance                          $43,268

trial balance year 2

Dr Cash 16,600

Dr Accounts receivable 5,123

Cr Service revenue 70,500

Dr Operating expense 48,100

Dr Bad debt expense 677

Income Statement

Year 2

Service revenue                                       $70,500

Expenses:

Operating expense $48,100Bad debt expense $677                 ($48,777)

Net income                                                $21,723

Statement of changes in stockholders' equity

Beginning balance:

Common stock issued               $17,000

Retained earnings                     $26,268

Net income                                $21,723

Ending balance                          $64,991

Balance Sheet

Year 2

Assets:

Cash $53,400

Accounts receivable $11,591

Total Assets $64,991

Equity:

Cr Common stock 17,000

Retained earnings $47,991

Total equity $64,991

Statement of cash flows

Year 2

Net income                                           $21,723

Adjustments to net income:

Increase in accounts receivable         ($5,123)

Net cash from operating activities     $16,600

Net cash increase                               $16,600

Beginning cash balance                    $36,800

Ending cash balance                         $53,400  

The three options for soliciting business from potential suppliers are:_______.
a. request for information (RFI), request for quotation (RFQ) and request for proposal (RFP)
b. request for quotation (RFQ), request for proposal (RFP) and request or invitation for bid (RFB or IFB)
c. request for quotation (RFQ), request for confirmation (RFC) and request for proposal (RFP)
d. request for information (RFI), request for proposal (RFP), and request or invitation for bid (RFB or IFB)
e. request for quotation (RFQ), request for price (RFP), and request or invitation for bid (RFB or IFB)

Answers

Answer:

Option b. is correct

Explanation:

Potential Supplier refers to any person that submits a Tender with respect to response to the Invitation to Tender.

Purpose of RFI  is to collect written information about the capabilities of different suppliers.

RFQ is a kind of procurement solicitation in which the outside vendors are asked by a company to offer a quote for the completion of a specific project.

The three options for soliciting business from potential suppliers are request for quotation (RFQ), request for proposal (RFP) and request or invitation for bid (RFB or IFB).

Which has a negative impact on performance

Answers

Answer:

bad wi fi bad prefomancne

Explanation:

bad wi fi bad prefomancne

What's the diffrence between division manager and regional manager? please i need help i don't understand the difference.​

Answers

A regional manager manages and works way more than a division manager

Why is it difficult for products to "cross the chasm"? Because the product does not appeal to visionaries. Because the product has a brand name that does not translate well to other countries. Because the product's positioning strategy is not consistent with prior product releases. Because the product's value proposition may attract visionaries but may never get acceptance in the mass market.

Answers

Answer:

Because the product's value proposition may attract visionaries but may never get acceptance in the mass market.

Explanation:

The cross the charm refers to  a charm that is existed after selling the product to the early adopters also at the same time the sales reached to plateau while on the other hand the growth next stage is to be done so that the product could be reached to the masses

Therefore as per the given situation, the last option is appropriate

And, the same is to be considered

Verne Cova Company has the following balances in selected accounts on December 31, 2014.
Accounts Receivable $ -0-
Accumulated Depreciation—Equipment -0-
Equipment 7,000
Interest Payable -0-
Notes Payable 10,000
Prepaid Insurance 2,100
Salaries and Wages Payable -0-
Supplies 2,450
Unearned Service Revenue 30,000
All the accounts have normal balances. The information below has been gathered at December 31, 2014.
1. Verne Cova Company borrowed $10,000 by signing a 12%, one-year note on September 1, 2014.
2. A count of supplies on December 31, 2014, indicates that supplies of $900 are on hand.
3. Depreciation on the equipment for 2014 is $1,000.
4. Verne Cova Company paid $2,100 for 12 months of insurance coverage on June 1, 2014.
5. On December 1, 2014, Verne Cova collected $30,000 for consulting services to be performed from December 1, 2014, through March 31, 2015.
6. Verne Cova performed consulting services for a client in December 2014. The client will be billed $4,200.
7. Verne Cova Company pays its employees total salaries of $9,000 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2014.
Instructions:
Prepare adjusting entries for the seven items described above.

Answers

Answer and Explanation:

The adjusting journal entries are shown below:

1) Interest Expense $400  ($10,000 × 12% × 3 months ÷ 12 months)

          Interest Payable $400

(Being interest expense is recorded)

2) Supplies expense $1,500  ($2,450 - $900)

            To Supplies $1,550

(being supplies expense is recorded)

3) Depriciation expense $1,000

        Accumulated depriciation - equipment $1,000

(being depreciation expense is recorded)  

4) Insurance expense $1,225  ($2,100 × 7 months ÷ 12 months)

              To Prepaid insurance $1,225

(Being insurance expense is recorded)

5) Unearned service revenue $7,500 ($30,000 ÷ 4)

                  Service revenue  $7,500

(being service revenue is recorded)

6) Account receivable $4,200

        To Service revenue $4,200

(being account receivable is recorded)

7) Salaries and wages expense $5,400  ($9,000 ÷ 5 days × 3 days)

                To Salaries and wages payable $5,400

(being salaries & wages expense is recorded)

Southern Rim Parts estimates its manufacturing overhead to be $418,500 and its direct labor costs to be $930,000 for year 1. The first three jobs that Southern Rim worked on had actual direct labor costs of $52,000 for Job 301, $77,000 for Job 302, and $110,000 for Job 303. For the year, actual manufacturing overhead was $464,000 and total direct labor cost was $847,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs using pre-determined rates.
Required:
A. How much overhead was assigned to each of the three jobs, 301, 302, and 303?
B. What was the over- or underapplied manufacturing overhead for year 1?

Answers

Answer:

Results are below.

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= 418,500/930,000

Predetermined manufacturing overhead rate= $0.45 per direct labor dollar

Now, we can allocate overhead yo Job 301, 302, 303:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job 301= 0.45*52,000= $23,400

Job 302= 0.45*77,000= $34,650

Job 303= 0.45*110,00= $49,500

Finally, we allocate overhead for the whole company and calculate the under/over allocation:

Allocated MOH= 0.45*847,000= $381,150

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 464,000 - 381,150

Under/over applied overhead= $82,850 underallocated

Western University has only one women’s softball scholarship remaining for the coming year. The final two players that Western is considering are Allison Fealey and Emily Janson. The coaching staff has concluded that the speed and defensive skills are virtually identical for the two players, and that the final decision will be based on which player has the best batting average. Crosstabulations of each player’s batting performance in their junior and senior years of high school are as follows:
Allison Fealey
Outcome Senior Junior
Hit 15 75
No Hit 25 175
Total At-Bats 40 250
Emily JansonOutcome Senior JuniorHit 70 35No Hit 130 85Total At-Bats 200 120
Western University has only one women’s softball scholarship remaining for
A player’s batting average is computed by dividing the number of hits a player has by the total number of at-bats. Batting averages are represented as a decimal number with three places after the decimal.
a. Calculate the batting average for each player in her junior year. Then calculate the batting average of each player in her senior year. Using this analysis, which player should be awarded the scholarship? Explain.
b. Combine or aggregate the data for the junior and senior years into one crosstabulation as follows:
Western University has only one women’s softball scholarship remaining for
Calculate each player’s batting average for the combined two years. Using this analysis, which player should be awarded the scholarship? Explain.
c. Are the recommendations you made in parts (a) and (b) consistent? Explain any apparentinconsistencies

Answers

Answer:

Explanation:

virtually identical for the two players, and that the final decision will be based on which player has the best batting average. Crosstabulations of each player’s batting performance in their junior and senior years of high school are as follows:

Allison Fealey

Outcome Senior Junior

Hit 15 75

No Hit 25 175

Total At-Bats 40 250

Emily JansonOutcome Senior JuniorHit 70 35No Hit 130 85Total At-Bats 200 120

Western University has only one women’s softball scholarship remaining for

A player’s batting average is computed by dividing the number of hits a player has by the total number of at-bats. Batting averages are represented as a decimal number with three places after the decimal.

a. Calculate the batting average for each player in her junior year. Then calculate the batting average of each player in her senior year. Using this analysis, which player should be awarded the scholarship? Explain.

b. Combine or aggregate the data for the junior and senior years into one crosstabulation as follows:apparentinconsistencies

so what would you do if your friend expose you for being on brainly?

Answers

Answer:

Danm just know your doomed or just beg the person.

Explanation:

You are a management consultant with McKenzie and Company. You specialize in helping companies accurately identify and acquire the appropriate production inputs for their operations. Based on your extensive experience, you know that most production inputs fall into one or more of the following categories: materials and labor resources or information resources. However, the degree to which of these resources will be the dominant input depends on the type of business. In order to streamline your future projects, you have decided to put together a list of business types and their dominant category of production inputs. For each of the business types listed below, indicate which of the two production input categories would be most dominant for that business type.

a. Gold mining company
b. An online news publisher
c. Commercial bank
d. Automobile manufacturer
e. Accounting and bookkeeping firm
f. Food processing company

Answers

Answer:

a. Gold mining company  - Materials and Labor resources

Gold mining company would need miners and mining equipment to to get to the gold so would fall under Materials and labor resources.

b. An online news publisher  - Information resources

News is information on the current affairs of the world so the input here would fall under Online news publisher.

c. Commercial bank  - Information resources

Banks need to know who they are giving loans to and this involves a lot of risk assessment which is information so this falls under information resources.

d. Automobile manufacturer  - Materials and Labor resources

In an automobile manufacturer, the inputs would be the people assembling the cars and the materials needed to build the cars so this is under Materials and Labor.

e. Accounting and bookkeeping firm  - Information resources

Accounting firms compile information they are given to make coherent reports of financial activity in a period so the input is informational.

f. Food processing company - Materials and Labor

Food processing requires inputs of food materials for processing and will need labor to do so. They can therefore be classified under Materials and Labor.

Identify cash equivalents from the listed items.

a. Money market funds
b. Supplies
c. Three-month Treasury bills
d. Accounts receivable
e. Prepaid rent

Answers

Answer:

Money market funds , Three-month treasury bills

Explanation:

Cash equivalents are the liquid current assets that are easily convertible into a known cash amount. Examples of cash equivalents are commercial paper, treasury bills, marketable securities, and money market holdings.

Stocks, bonds, and derivatives, are excluded from the category of cash equivalents.

Money market funds , Three-month treasury bills are considered as cash equivalents.

Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2020 are presented below.
Production Data
June
Beginning work in process units 0
Units started into production 22,660
Ending work in process units 2,060
Percent complete—ending inventory 40 %
Cost Data
Materials $203,940
Labor 55,208
Overhead 116,184
Total $375,332
Prepare a schedule showing physical units of production.

Answers

Answer and Explanation:

The preparation of schedule showing physical units of production is prepared below:-

Rosenthal Company

Physical units of production

For the year June 2020

Units to be accounted for:

Work in process, June 1: -

Started into production 22,660 units

Total units                       22,660

Units to be accounted for:

Transferred out               20,600  (22,600 - 2,060)

Work in process, June 30  2,060 units

Total units                          22,660 units

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