The goodwill method is to be used. How much Goodwill is recorded by the partnership is 225,000. Hence, option B is correct.
What is goodwill method?Goodwill is calculated by subtracting the purchase price from the difference between the fair market value of the company's assets and liabilities. Companies are required to review their goodwill value on their financial statements at least once a year and reflect any impairments.
This method is used when profits fluctuate and the current year's profit is given primary importance. It's evaluated using the formula. Weighted Average Profit is the sum of all profits divided by the sum of all weights, and Goodwill is computed as Weighted Average Profit times the number of years since the purchase.
Goodwill valuation is the methodical evaluation of a company's goodwill for inclusion in its balance sheet under the heading of intangible assets.
Thus, option B is correct.
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A welding company specializes in custom steel frames and uses job costing to account for its operations. The following information is available as of May 1 for the work-in-process inventory account:
Job# Direct Materials Direct Labor Man. Overhead Total Cost
304 $3,000 $1,800 $2,520 $7,320
306 4,000 2,100 2,940 9,040
Total Cost 7,000 3,900 5,460 16,360
Welding Company pays an hourly rate of $15 for direct labor. Manufacturing overhead costsare applied to jobs based on the direct labor hours used. During the month of May, Jacob Welding spends $5,800 to purchase materials and $4,650 for manufacturing overhead. The operations in May are summarized below.
Job# Material Requisition summary Time Card Summary (Hours)
304 $1,100 40
306 900 30
307 2,800 110
308 750 25
Total 5,550 205
Jobs 304, 306, 307 are completed in May but only Jobs 304 and 307 are delivered to customers.
Required:
Calculate the predetermined overhead rate used.
Answer: $21 per direct labor hour.
Explanation:
Based on the information given in the question, the predetermined overhead rate that is used will be calculated as:
= Manufacturing overhead / Direct labor
where,
Manufacturing overhead = 5460
Direct labor = 3900/15 = 260 hours
Therefore, predetermined overhead rate:
= 5460/260
= $21 per direct labor hour.
if potential output declines while actual output remains unchanged, what does the Taylor rule imply that policymakers should do to the fed funds rate
Answer:
Increased
Explanation:
In the case when there is a fall in the potential output and at the same time the actual output remains the same so here the fund rate should be increased as per the taylor rule as it decrease the output that result in the output gap to fall
So as per the given situation, the fed fund rate should be increased
Hence, the same is to be increased
January 2, 2018, Cullumber, Inc. purchased a patent for a new consumer product for $810000. At the time of purchase, the patent was valid for 15 years; however, the patent’s useful life was estimated to be only 10 years due to the competitive nature of the product. On December 31, 2021, the product was permanently withdrawn from the market under governmental order because of a potential health hazard in the product. What amount should Cullumber charge against income during 2021, assuming amortization is recorded at the end of each year?
Answer:
Cullumber, Inc.
The amount that Cullumber should charge against income during 2021 is:
= $567,000.
Explanation:
a) Data and Calculations:
Cost of a purchased patent = $810,000
Estimated useful life = 10 years
Annual amortization expense = $81,000
Accumulated amortization for 3 years = $243,000 ($81,000 * 3)
Book value of patent on December 31, 2021 = $567,000 ($810,000 - $243,000)
The remaining book value should be charged against income in 2021 because of the withdrawal of the product.
On January 1, 2016, Wade Corporation had 24,000 shares of common stock outstanding. On April 1, it reacquired 2,400 shares; on July 1, it issued 10,800 shares; on October 1, it issued another 9,600 shares; and on December 1, it reacquired 900 shares. What was the weighted average number of common shares outstanding for 2016
Answer: no clue bro.. im just tryna get points.. im only in 6th grade
Explanation:
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Drag each label to the correct location on the image.
Match each adjustment for reconciling a checking account to the correct document.
Adjust Bank Statement
Adjust Check Register
deduct bank
deduct
add interest earned
add outstanding
deposits
service
outstanding
charges
checks
Answer:
Adjust Bank Statement = (Deduct outstanding checks),(Add Outstanding Deposits).
Adjust Check Register = (Deduct bank service charges),(Add interest earned).
Explanation:
Just completed this on Edmentum/PLATO got 100%
Adjust Bank Statement :Deduct ,outstanding, checks, Add Outstanding Deposits.
Adjust Check Register : Deduct bank, service charges , Add interest earned.
Adjust the balance on the bank statements to the corrected balance. For doing this, you must add deposits in transit, deduct outstanding checks and add/deduct bank errors. Deposits in transit are amounts that are received and recorded by the business but are not yet recorded by the bank.
What does balancing a check register mean?Balancing your checkbook, which is also known as reconciling your account, is basically about making sure that the records you have kept for your financial transactions match those the bank lists on your statement.
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Weekly News, Inc., publishes a weekly newspaper 52 weeks out of the year. The company sells one-year subscriptions to its newspaper for $52 collected in advance. During its first year of operations, the company sold subscriptions to 1,000 customers. By the end of that first year, on average, customers had received 13 weekly copies. What is the amount of subscription revenue that should be reported on the income statement for that first year of operations
Answer:
13000
Explanation:
13*1000
Coronado Company has the following equivalent units for July: materials 19000 and conversion costs 18800. Production cost data are: Materials Conversion Work in process, July 1 $ 7800 $ 2000 Costs added in July 53000 45000 The unit production costs for July are: Materials Conversion Costs
Answer:
1. Per unit material cost = (Beginning WIP cost + Cost added) / Equivalent units for material
Per unit material cost = ($7,800 + $53,000) / $19,000
Per unit material cost = $60,800 / $19,000
Per unit material cost = $3.20
2. Per unit conversion cost = (Beginning WIP cost + Cost added) / Equivalent units for conversion
Per unit conversion cost = ($2,000 + $45,000) / $18,800
Per unit conversion cost = $47,000 / $18,800
Per unit conversion cost = $2.50
When a Sally assesses the external competitive environment facing her firm, she labels anything that would make it harder for her firm to be successful as a(n)
Answer:
threats
Explanation:
In a scenerio When a Sally assesses the external competitive environment facing her firm, she labels anything that would make it harder for her firm to be successful as threat. Threat are any activity that lowers the development of a firm or that doesnt allow bit to thrive in the market and the is usually as a result of competitive environment .
Competitive environment can be regarded as system in which different businesses makes competition among themselves with the utilization of various promotional strategies,
marketing channels as well as pricing methods.
A department adds all raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 89100 units were started into production in January; and there were 19200 units that were 50% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January?
Answer:
the equivalent units of production for materials for the month of January is 89,100 units
Explanation:
The computation of the equivalent units of production for materials for the month of January is shown below:
= Units completed + completed units in ending inventory
= (89,100 units - 19,200 units) + 19,200 units
= 69,900 units + 19,200 units
= 89,100 units
hence, the equivalent units of production for materials for the month of January is 89,100 units
Three major segments of the transportation industry are motor carriers, such as YRC Worldwide (YRCW); railroads, such as Union Pacific (UNP); and transportation logistics services, such as C.H. Robinson Worldwide, Inc. (CHRW). Financial statement information for these three companies follows (in thousands): YRC Union Pacific C.H. Robinson Sales $4,697,500 $19,941,000 $13,144,413 Average total assets 1,824,700 55,159,000 3,436,058 a. Determine the asset turnover for all three companies. Round to one decimal place. YRC Worldwide fill in the blank 1 Union Pacific fill in the blank 2 C.H. Robinson Worldwide fill in the blank 3 b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the efficient a firm is in using assets.
Answer and Explanation:
The computation is shown below:
a) Assets turnover
Particulars YRC UNP CH
Sales $4,697,500 $19,941,000 $13,144,413
Average total assets $1,824,700 $55,159,000 $3,436,058
Assets turnover 2.6 0.4 3.8
b. The ratio of sales to assets calculated the sales dollars i.e. earned for each assets. The more the no of sales dollars the more the firm would be considered efficient
Growing, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $3.40. You believe that dividends will grow at a rate of 19.0% per year for two years, and then at a rate of 7.0% per year thereafter. You expect the stock will sell for $17.17 in two years. You expect an annual rate of return of 22.0% on this investment. If you plan to hold the stock indefinitely, what is the most you would pay for the stock now
Answer:
$18.09
Explanation:
The computation of the current stock price is shown below:
Particulars Dividend or amount PVIF at 22% Present value
D1 $4.05 0.820 $3.32
($3.40 × 1.19)
D2 $4.81 0.672 $3.23
($4.05 × 1.19)
Stock price in 2 years $17.17 0.672 $11.54
Current stock price $18.09
The annual inventory of The Bike Shop Inc. shows the following information for mountain bikes: DATE QUANTITY COST TOTAL January 15 Beginning Inventory 80 $126 $10,080 March 20 Purchase 30 120 3,600 June 21 Purchase 20 126 2,520 October 12 Purchase 15 122 1,830 December 29 Purchase 10 122 1,220 Total available for sale 155 $19,250 If 36 mountain bikes were on hand on December 31, what is the value of the ending inventory using the LIFO method of inventory pricing
Answer:
$4,536
Explanation:
LIFO assumes that the units to arrive last will be sold first. Hence inventory valuation is based on the prices of earlier units.
Ending Inventory = 36 x $126 = $4,536
The value of the ending inventory using the LIFO method of inventory pricing is $4,536.
Vista Company is consideringt two new projects, each requiring an equipment investment of $97,000. Each project will last for three years and produce the following cash inflows:
Year Cool Hot
1 $38,000 $42,000
2 43,000 42,000
3 48,000 42,000
129,000 $126,000
The equipment will have no salvage value at the end of its three-year life. Vista Company uses straight-line depreciation and requires a minimum rate of return of 12%.
Present Value of 1 Present Value of an Annuity of 1
Period 12% Period 12%
1 0.893 1 0.893
2 0.797 2 1.690
3 0.712 3 2.402
Required:
a. Compute the net present value of each project.
b. Compute the profitability index of each project.
c. Which project should be selected? Why?
Answer:
a. Net Present Value of Cool:
= Present value of cash inflows - Initial investment
= ∑(Cash flows * Present value factor) - Initial investment
= (38,000 * 0.893) + (43,000 * 0.797) + (48,000 * 0.712) - 97,000
= 102,381 - 97,000
= $5,381
Net Present value of Hot.
Cashflows are constant so this is an annuity:
= Cashflow * Present value interest factor of annuity - Initial investment
= 42,000 * 2.402 - 97,000
= 100,884 - 97,000
= $3,884
b. Profitability index for Cool:
= Present value of inflows / Initial investment
= 102,381 / 97,000
= 1.06
Profitability index for Hot:
= 100,884 / 97,000
= 1.04
c. Project Cool should be selected because it has a higher Net Present Value.
A closeout report is primarily used to
Answer:
draft the summary of a project plan and the performance efficiency of it.
Explanation:
A closeout report is primarily used to "draft the summary of a project plan and the performance efficiency of it."
Closeout report is a means of preparing an analysis of a project plan, including the result, in which the differences, pros, and cons, are listed out.
It also contains the performance rating or measure to determine the level of success of a project plan.
Babble, Inc., buys 405 blank cassette tapes per month for use in producing foreign language courseware. The ordering cost is $15.00. Holding cost is $0.25 per cassette per year. a. How many tapes should Babble order at a time?
Answer:
The appropriate solution is "764".
Explanation:
Given:
Demand per month,
D = 405
or,
= [tex]405\times 12[/tex]
= [tex]4860[/tex]
Ordering cost,
S = $15
Holding cost,
H = $0.25
As we know,
⇒ [tex]EOQ=\sqrt{\frac{2DS}{H} }[/tex]
⇒ [tex]=\sqrt{\frac{2\times 4860\times 15}{0.25} }[/tex]
⇒ [tex]=\sqrt{\frac{145800}{0.25} }[/tex]
⇒ [tex]=\sqrt{583200}[/tex]
⇒ [tex]=763.67[/tex]
or,
⇒ [tex]=764[/tex]
Tidy Service Company performed cleaning services during December 2019, but had not collected any cash from its customers as of December 31, 2019. What impact did performing these services have on the accounting equation
Answer:
The service increased assets and increased stockholders' equity
Explanation:
Based on the information given the impact that
did performing these services have on the accounting equation will be THE SERVICE INCREASED ASSETS AND INCREASED STOCKHOLDERS' EQUITY reason been that
when Performing the services will help to generate revenue,
Henry had to change the grades of four different students. He did so using his query that was calculating his grades. When he went back to the table, he should expect that
A. the new data was missing.
B. the table was also changed.
C. the new data was added to the table along with the old data.
D. the table required a new query to continue calculations.
Answer:
B. the table was also changed.
Explanation:
Took the test
The Sit-Ins were accompanied by boycotts of businesses that insisted on segregation. This often meant that protesters would not shop at popular stores, eat at popular restaurants, or go to movies at the local theater. How did boycotting affect these businesses
Answer:
I. Disruption of business activities
II. Severe losses
III. Reduced customer patronage
IV. Reduced revenue
V. Loss of customer loyalty
Explanation:
I. Disruption of business activities: The Sit-ins affected business activities in the businesses as the protesters have to take up spaces for other paying customers preventing effective service delivery to the other customers.
II. Severe losses: The businesses involved incurred high levels of losses as they lost slot of revenue from unused or unsold foods are
III. Reduced customer patronage: Customer patronage dropped as other paying customers have to boycott the businesses affected.
IV. Reduced revenue: Reduced revenue as a result of reduced patronage from the customers.
V. Loss of customer loyalty: When a business does not offer the desired services to its customers caused either through service disruption, other other factors it will most likely lead to reduced number of loyal customers.
On January 2, 2020, Howdy Doody Corporation purchased 17% of Ranger Corporation's common stock for $53,000. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $17,000 and $54,000, respectively. During 2020, Ranger declared and paid a dividend of $63,000. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $68,000. How much should Howdy Doody show in the 2020 income statement as income from this investment
Answer:
$25,710
Explanation:
Calculation to determine How much should Howdy Doody show in the 2020 income statement as income from this investment
First step is to calculate the Dividend received
Dividend received=($63,000 × 17%)
Dividend received = $10,710
Second step is to calculate the Increase in Fair value of Stock
Increase in Fair value of Stock=($68,000 - $53,000)
Increase in Fair value of Stock=$15,000
Now let calculate the How much should Howdy Doody show in the 2020 income statement as income from this investment
2020 income statement=$10,710+$15,000
2020 income statement=$25,710
Therefore The amount that Howdy Doody should show in the 2020 income statement as income from this investment is $25,710
a project has a beta of 1/07, the risk free rate is 2.1% and the market risk premium is 8.4% the projected expected rate o return is
Answer:
11.09%
Explanation:
Correct word is "a project has a beta of 1.07, the risk free rate is 2.1% and the market risk premium is 8.4%.The project expected rate of return is?"
As per CAPM, Expected rate of return = Risk free rate + (Beta*Market risk premium)
Expected rate of return = 2.1% + (1.07*8.4%)
Expected rate of return = 2.1% + 8.99%
Expected rate of return = 11.09%
So, the project expected rate of return is 11.09%.
Where can you find detailed information about your registration, classes, finances, and other personal details
Answer:
Student file in the administration department.
Explanation:
There is a separate file maintained for every student in which there are complete details mentioned about the profile of the student. There is also details of finances, registration and some personal details. These details are kept in a secure file. Some universities also maintain soft copy of these data.
Total quality management focuses on ______. Group of answer choices kaizen instant rework continuous inspection frequent inspection
Answer: Kaizen
Explanation:
Kaizen is simply a term in Japanese which means continuous improvement. The philosophy states that the operations of a company should be continually improved.
Total quality management focuses on Kaizen. It continually seeks for improvement in the company's operations while involving the workers in the company.
Explain the potential issues that can arise by not keeping a balanced checkbook.
Answer:
Explanation:
You might not catch bank errors.
You might make an error in calculating your bank balance which could cause you to overdraft.
You might not see valid charges made by the bank.
You might forget to list automatic drafts from your checking account.
You might not catch errors you make such as double postings, etc.
you might not post automatic deposits to customer accounts, causing errors in your subsidiary ledgers.
you could double pay a bill by accident, also causing errors in subsidiary ledgers.
In the best-selling book, Good to Great, the author examined the characteristics of eleven successful companies by studying the full context of each organization, using multiple sources of information and identifying the relationship between managerial decisions and success. This is an example of a(n) _______.
when establishing corporate entrepreneurship and an organization rewards should:
Answer: be tied to the performance of the entrepreneurial unit created from the idea.
Explanation:
Corporate Entrepreneurship refers to the process that's used in the development of new businesses, or products, in an existing organization for the creation of value and the generation of new revenue growth.
When establishing corporate entrepreneurship and an organization rewards should be tied to the performance of the entrepreneurial unit that was created from the idea.
anyone here earn money from brainly and how
please guide me
Hi, you've asked an incomplete question. However, I assumed you want to know what Brainly platformed.
Explanation:
It is interesting to note that the Brainly platform is designed specifically for students to learn from their peers mostly free of charge, and it allows them to find answers to homework questions.
The Robinson Company reported net income of $90,000 in 2010. Additional information follows:Depreciation expense$18,000Loss on sale of equipment 10,000 Gain on sale of land 17,000 Given just this information, what was the Robinson Company's net cash provided by operating activities in 2010
Answer:
$101,000
Explanation:
With regards to the above information , the net cash provided by operating activities is computed as;
Net income
$90,000
Add:
Depreciation expense
$18,000
Add:
Loss on sale of equipment
$10,000
Less:
Gain on sale of land
($17,000)
Net cash provided by operating activities
$101,000
Therefore, Robinson company's net cash provided by operating activities is 2010 is $101,000
We have a $500,000 line of credit with a 10% compensating balance. The quoted interest rate is 4.5%. We need $200,000 for inventory for one year. What is the effective interest rate we are paying on this credit line
Answer:
5.0%
Explanation:
Calculation to determine the effective interest rate we are paying on this credit line
First step is to calculate cost of inventory we need
Inventory=$200,000/(1 - 0.10)
Inventory=$222,222
Second step is to calculate Interest paid
Interest paid = $222,222(.045)
Interest paid= $9,999.99
Interest paid=$10,000 (Approximately)
Now let calculate the Effective rate
Effective rate =$10,000/$200,000
Effective rate= 0.05*100
Effective rate=5.0%
Therefore the effective interest rate we are paying on this credit line is 5.0%
Compute the direct materials price variance and the direct materials quantity variance. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Round "Cost per unit" answers to 2 decimal places.) AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price
Question Completion:
A manufactured product has the following information for June.
Standard Actual
Direct materials 6 lbs. at $8 per lb. 48,500 lbs. at $8.10 per lb.
Direct labor 2 hrs. at $16 per hr. 15,700 hrs. at $16.50 per hr.
Overhead 2 hrs. at $12 per hr. $198,000
Units manufactured 8,000
Answer:
Direct materials price variance = $4,850 U
Direct materials quantity variance = $4,000 U
Explanation:
a) Data and Calculations:
Actual Standard
Direct materials price per lbs $8.10 $8.00
Direct labor rate per hour $16.50 $16.00
Quantity:
Direct materials 48,500 48,000 (6 * 8,000)
Direct labor hours 15,700 16,000 (2 * 8,000)
Direct materials price variance = SP - AP * AQ
= $8 - $8.10 * 48,500
= $0.10 * 48,500
= $4,850 U
Direct materials quantity variance = SQ - AQ * SP
= 48,000 - 48,500 * $8
= $4,000 U
The private equity firm Clarence Partners is looking at a leveraged buyout
opportunity on the Longo Trattoria restaurant chain. Longo today (Year O) has a
capital structure of 75% equity, 25% debt. Its free cash flow last year (FCFO) was
$1 Million and it is expected to grow at constant rate of 8% per year. All its assets
are operating assets. Its WACC equals 14%. If Clarence invests in the deal (it
would acquire 100% of the company), it plans to exit at the end of Year 5, at
which point Longo's capital structure will be 90% equity and only 10% debt, and
its enterprise value (EV) will be estimated at 20 times its FCF in Year 5 (FCF5). All
interim cash flows will be used to pay down debt. Clarence has a minimum 35%
IRR hurdle rate.
1. What is Longo's value of equity today?
2. What will be Longo's value of equity at the end of Year 5?
3. How much equity should Clarence invest today if it is to meet exactly its
hurdle rate?
4. How much debt should Clarence contract, in addition to its equity
investment, in order to close the deal with Longo today?
Answer:
I dont know
Explanation:
Just want the points