All other things the same, if a company uses long-term debt to purchase land to develop in the future, the company's return on total assets will decrease.
a) true
b) false

Answers

Answer 1

The company purchases land to broaden in the future. The companies' return on total assets will decrease. That is a false announcement.

What is long-term debt?

Long-term period debt is debt that matures in a couple of years. Long-time period debt may be considered from two perspectives: monetary announcement reporting through the provider and monetary making an investment.

In monetary announcement reporting, agencies ought to report long-time period debt issuance and all of its related charge duties on their monetary statements.

On the other hand, making an investment in long-term period debt consists of placing cash into debt investments with maturities of a couple of years.

Long-term period debt is debt that matures in a couple of years. Entities select to pay off long-term debt with diverse considerations, more often than not, specializing in the time-frame for reimbursement and interest to be paid.

Investors spend money on long-time period debt for the blessings of hobby bills and keep in mind that the time to adulthood is a liquidity risk.

Overall, the lifetime obligations and valuations of long-term debt may be heavily influenced by marketplace fee changes and whether or not a long-term debt issuance has fixed or floating fee terms.

Organisation takes on debt to achieve instantaneous capital. For example, startup ventures require a broad budget to get off the ground.

This debt can take the shape of promissory notes and serve to pay for startup fees together with payroll, development, IP felony fees, equipment, and marketing.

Therefore, from the above statement, it's clear that alternative B, false, is the proper alternative.

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Related Questions

Many names have been recognized as notable business leaders. Steve Jobs, Bill Gates, Elon Musk, Mark Zuckerberg, Jack Welch, and Colleen Barrett are all leaders identified for their unique approach to leading people. Choose one of the following business leaders for this assignment: Jeff Bezos, Elon Musk, Steve Jobs, Bill Gates, Jack Welch, Indira Nooyi, Anne Mulcahy, Howard Schultz, Colleen Barrett, Larry Page, Mark Zuckerberg, Warren Buffett, Richard Branson, Susan Wojcicki, Marissa Mayer, or Mary Barra. Select one leader and discuss (in 1,250-1,500 words) what you have learned about the selected individual as a leader and the leadership style that leader embodies. Address the following in your discussion: Identify a leader and justify why you selected that particular leader. With what organizations is the leader affiliated

Answers

What is this broooooo!

Which action invalidates the contract Kyle signed?
a.
Kyle missed his monthly payment.
b.
Kyle split the missing payment into three equal parts.
c.
Kyle did not notify his bank with his intention to split up the missing payment.
d.
Kyle did not add one-third of the missing payment to the next three monthly payments.

ITS C Promise

Answers

Answer:

It is C I just got it correct

The action that invalidates the contract Kyle signed is: c. Kyle did not notify his bank with his intention to split up the missing payment.

What is a contract?

Contract is simply a written agreement between two or more people.

Kyle was suppose to inform the bank about his plan of splitting the missing payment into three installment because of his inability to make his payment for the month.

Failing to call the bank before sending the check of the amount of  $1,600 as his three installment payment has invalidates the contract Kyle signed.

Inconclusion the action that invalidates the contract Kyle signed is: c. Kyle did not notify his bank with his intention to split up the missing payment.

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The following inventory valuation errors have been discovered for Knox Corporation:
The 2015 year-end inventory was overstated by $23,000.
The 2016 year-end inventory was understated by $61,000.
The 2017 year-end inventory was understated by $17,000.
The reported income before taxes for Knox was:
Year: Income before Taxes:
2015 $138,000
2016 $254,000
2017 $168,000
Required:
Compute what income before taxes for 2015, 2016, and 2017 should have been after correcting for the errors.

Answers

Answer:

Corrected Income before taxes are $115,000 (2015), $315,000 (2016) and $185,000 (2017)

Explanation:

in the calculation of a company's income before tax, the Cost of Goods Sold (COGS) is done using the basic formulae by Adding Opening year inventory with Purchases and subtracting Ending year Inventory. In the case where Ending year inventory has been overstated, the COGS that has been calculated is understated which implies that the Income before tax has been overstated.

In the vice versa scenario, where Ending year inventory has been understated, the COGS that has been calculated is overstated which implies that the Income before tax has been understated. The calculation of the same is done below:

Year 2015

Income Before Tax (Previous) - Ending year Inventory = Income before Tax (Corrected)

138,000 - 23,000 = $115,000

Year 2016

Income Before Tax (Previous) + Ending year Inventory = Income before Tax (Corrected)

254,000 + 61,000 = $315,000

Year 2017

Income Before Tax (Previous) + Ending year Inventory = Income before Tax (Corrected)

168,000 + 17,000 = $185,000

A company uses a perpetual inventory system. The company began its fiscal year with inventory of $998,000. Purchases of merchandise on account during the year totaled $3,124,089. Merchandise costing $3,456,980 was sold on account for $6,909,879. Prepare the journal entries to record these transactions.

Answers

Answer:

Date  Account Titles and Explanation              Debit            Credit

          Inventory                                                 $3,124,089

                Account payable                                                    $3,124,089

          (To record purchase of merchandise inventory)

            Account receivables                             $6,909,879

                  Sales revenues                                                    $6,909,879

           (To record sales on account)

            Cost of goods sold                                $3,456,980

                  Inventory                                                               $3,456,980

             (To record the cost of sales)

ohansen Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for the next year: Direct materials $ 6,000 Direct labor $ 20,000 Rent on factory building $ 15,000 Sales salaries $ 25,000 Depreciation on factory equipment $ 8,000 Indirect labor $ 12,000 Production supervisor's salary $ 15,000 Jameson estimates that 20,000 direct labor-hours will be worked during the year. The predetermined overhead rate per hour will be:

Answers

Answer:

The right solution is "$ 2.50 per DLH".

Explanation:

The given values are:

Rent,

= $ 15,000

Factor equipment's depreciation,

= $ 8,000

Indirect labor,

= $ 12,000

Production supervisor's salary,

= $ 15,000

Estimated DLHs,

= 20,000

The total manufacturing overhead will be:

= [tex]Rent+Factory's \ equipment \ depreciation+Indirect \ labor+Production \ supervisor's \ salary[/tex]On substituting the given values, we get

= [tex]15000+8000+12000+15000[/tex]

= [tex]50,000[/tex] ($)

Now,

The predetermined overhead rate will be:

=  [tex]\frac{50000}{20000}[/tex]

= [tex]2.50 \ per \ DLH[/tex] ($)

As an entrepreneur that prefers to work independently what is the best source of financing? Explainer answer

Answers

Answer:

Best source of financing are Personal Investment, Angels, Crowdfunding and Banks.

Explanation:

There are many sources of funding available for the entrepreneur to avail when wanting to work independently. These are mentioned below:

Personal Investment

The first best source is funding it yourself if you have any savings or might be working in an organisation and have just received a handsome bonus that you might be able to invest in. One of the main advantage of this type of financing is that it sends a positive image to the external financiers, that the person wanting to work as an entrepreneur is willing to take risks.

Angels

These are experienced entrepreneurs who have some additional income and are willing to invest in new or small organisations. Sometimes the investment through an angel starts at low level investment and is then taken to a higher amount after some confidence has been built on the entrepreneur's business growth.

Crowdfunding

This type of method for financing is preformed via online where one person provides an investment opportunity to large group of people to invest in small amounts to meet the entrepreneur's needs. This can be either in form of loan or donations.

Bank Financing

Another good source for funding, however, in comparison to the above mentioned financing sources this type is more risk averse. This means that banks intend to provide financing to companies/businesses with low risk profiles. However, it does not conclude that they might not be willing to provide the required financing.

Feb. 1 Paid $500 for rent of hangar space in February.Feb. 4 Received customer payment of $1,510 to ship several items to Philadelphia next month.Feb. 7 Flew cargo from Denver to Dallas; the customer paid in full ($1,410 cash).Feb. 10 Incurred and paid $1,500 in pilot wages for flying in February.Feb. 14 Paid $116 for an advertisement run in the local paper on February 14.Feb. 18 Flew cargo for two customers from Dallas to Albuquerque for $2,130; one customer paid $860 cash and the other asked to be billed $1,270.Feb. 25 Purchased on account $1,755 in supplies for future use on the planes.Required:Prepare accrual basis journal entries for each transaction.Calculate the company’s preliminary net income.Calculate the company’s net profit margin expressed as a percent.

Answers

Answer:

1. Feb-01

Dr Rent expense 500

Cr Cash 500

Feb-04

Dr Cash 1510

Cr Unearned freight revenue 1510

Feb-07

Dr Cash 1410

Cr Freight revenue 1410

Feb-10

Dr Wages and salaries expense 1500

Cr Cash 1500

Feb-14

Dr Advertisement expenses 116

Cr Cash 1165

Feb-18

Dr Cash 860

Cr Freight revenue 860

Dr Accounts receivable 2130

Cr Freight revenue 2130

Feb-25

Dr Supplies 1755

Cr Accounts payable 1755

2. $2,284

3. 51.90%

Explanation:

1. Preparation of accrual basis journal entries for each transaction

Feb-01

Dr Rent expense 500

Cr Cash 500

Feb-04

Dr Cash 1510

Cr Unearned freight revenue 1510

Feb-07

Dr Cash 1410

Cr Freight revenue 1410

Feb-10

Dr Wages and salaries expense 1500

Cr Cash 1500

Feb-14

Dr Advertisement expenses 116

Cr Cash 1165

Feb-18

Dr Cash 860

Cr Freight revenue 860

Dr Accounts receivable 2130

Cr Freight revenue 2130

Feb-25

Dr Supplies 1755

Cr Accounts payable 1755

2.Calculation for the company’s preliminary net income.

Freight revenue 4400

(1410+860+2130)

Less Expenses 2116

(500+1500+116)

Preliminary Net income $2,284

Therefore the company’s preliminary net income will be $2,284

3. Calculation for the company’s net profit margin expressed as a percent

Net profit margin = 2,284/4,400

Net profit margin=0.5190*100

Net profit margin=51.90%

Therefore the company’s net profit margin expressed as a percent will be 51.90%

The next three questions use the below information. Company A started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset $150,000 Useful life 3 Tax rate 21% 20X1 estimated tax payment 1,800 Depreciation for book and tax purposes is as follows: Book Tax 20X1 40,000 100,000 20X2 40,000 20,000 20X3 40,000 0 20X1 income statement information: Sales 638,000 Expenses (does not include depreciation expense and tax expense) 510,000 What is net income for 20X1?

Answers

Answer:

$69,520

Explanation:

"Note: Let assume salvage value is $3,000"

             Company A

       Income Statement

       For the year 20X1

Sales                          $638,000

Expenses                   $510,000

Depreciation              $40,000   [(150,000-30,000)/3}

Income before tax     $88,000

Income tax at 21%      $18,480

Net Income                $69,520

For this question, consider a manufacturer of wall calendars. A cost leadership strategy would be oriented around mass producing calendars. Responsiveness would be oriented around being flexible and changing designs/themes as the market changes and always having calendars available for sale (reliable response). A differentiation strategy would be through unique and customizable product design. This would also create a production that is like that of a craftsman rather than mass production where customers will be able to design and have produced a custom product. You are hiring personnel to work on the Wall Calendar Production Line. Your decision depends on the operations strategy. Match the appropriate decision with the strategy:
Differentiation
Cost Leadership
Responsiveness (flexible response)
A. Hire artists to create unique calendars.
B. Hire workers who will be cross trained, so they can be scheduled to do various positions.
C. Hire low skilled labor, like high school grads, to run machines for printing and cutting.

Answers

Answer:

Matching the appropriate decision with the appropriate strategy:

A. Hire artists to create unique calendars.

= Differentiation

B. Hire workers who will be cross trained, so they can be scheduled to do various positions.

= Responsiveness (flexible response)

C. Hire low skilled labor, like high school grads, to run machines for printing and cutting.

= Cost Leadership

Explanation:

A differentiation strategy aims to provide customers with unique, different, and distinct goods and services, unlike the competitors may offer in the marketplace.  It increases competitive advantage.

A cost leadership strategy is employed to reduce production and product costs.  It encourages mass production.

A responsiveness strategy is flexible.  It tries to match the needs of customers with a company's production activities.

Selected transactions for the Joel Berges Company are presented in journal form below.

Date Account Titles and Explanation Ref. Debit Credit
5-May Accounts Receivable 4,100
      Service Revenue 4,100
        (Billed for services performed)
12 Cash 2,400
     Accounts Receivable 2,400
       (Received cash in payment of account)
15 Cash 3,000
     Service Revenue 3,000
        (Received cash for services performed)

Required:
Post the transactions to T-accounts and determine each account's ending balance.

Answers

Answer:

1.                             Cash

Date            Amount      Date      Amount

12 May         $2,400

15 May         $3,000

Ending Bal. $5,400

2.                Account Receivables

Date            Amount      Date      Amount

5 May          $4,100        12 May    $2,400

                                      Bal C/D   $1,700

                    $4,100                        $4,100

Ending Bal. $1,700

3.                  Service Revenue

Date            Amount      Date      Amount

                                        5 May     $4,100

                                        15 May    $3,000

                                        End Bal. $7,100

Cozy Nights Industries manufactures down-filled comforters and uses activity-based costing. The following information is provided for September.

Activity Estimated indirect activity costs Allocation base Estimated quantity allocation base
Materials handling $12,600 Number of parts 4,200 parts
Assembly 55,440 Number of parts 4,200 parts
Packaging 10,920 Number of parts 1,050 comforters

Each comforter consists of 4 parts and the direct materials cost per comforter is $14.00.Based on the information given for Cozy Nights Industries, what is the total manufacturing cost per comforter?

a. $78.80.
b. $64.80.
c. $3.00.
d. $89.20.
d. $30.20.

Answers

Answer:

the total manufacturing cost per comforter is $120.4

Explanation:

The computation of the total manufacturig cost per comfortor is as follows:

= Cost × activity consumed ÷ Total activity

For material handling

= $12,600 × 4 ÷ 4,200

= $12

For Assembly

= $55,440 × 4 ÷ 4,200

= $52.8

For packaging

= $10,920 × 4 ÷ 1,050

= $41.6

And, the direct material cost is $14

So, the total manufacturing cost per comforter is

= $12 + $52.8 + $41.6 + $14

= $120.4

Hence, the total manufacturing cost per comforter is $120.4

This is the answer but the same is not provided in the given options

Cozy Nights Industries' total manufacturing cost per comforter is d. $89.20.

Data and Calculations:

Activity    Estimated indirect activity costs Allocation base  Estimated

                                                                                                   quantity  

Materials handling                 $12,600   Number of parts      4,200 parts

Assembly                                 55,440   Number of parts     4,200 parts

Packaging                                10,920   Number of parts     1,050 comforters

Overhead Rates:

Materials handling = $3 ($12,600/4,200) per part

Assembly = $13.20 ($55,440/4,200) per part

Packaging = $10.40 ($10,920/1,050) per comforter

Overhead cost:

Materials handling = $12 ($3 x 4)

Assembly = $52.80 ($13.20 x 4)

Packaging = $10.40 ($10.40 x 1)

Total overhead cost = $75.20

Total manufacturing cost per comforter:

Total overhead cost = $75.20

Direct materials cost = $14.00

Total manufacturing cost = $89.20

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XYZ Corporation had 158 million shares outstanding on January 1, 2012. On February 2,2012, it issued an additional 30 million shares to the market at the market priceof $55 per share. What was the effect of this share issue on the price per share

Answers

Answer:

There was no effect of this share issue on the price per share

Explanation:

First, we need to determine the pre-issuance value

Numbers of outstanding shares = 158,000,000 shares

Total Value of equity = Numbers of outstanding shares x Market value per share = 158,000,000 shares  x $55 per share = $8,690,000,000

Now calculate the issuance values

Numbers of shares issued = 30,000,000 shares

Vaue of issued equity = NUmbers of shares issued x Mrket value per share = 30,000,000 x $55 per share = $1,650,000,000

Now determien the post issuance value

Numbers of outstanding shares = 158,000,000 shares + 30,000,000 shares = 188,000,000 shares

Total Value of equity = $8,690,000,000 + $1,650,000,000 = $10,340,000,000

Now calcuate the Value per share

Value per share = Post Issuance Total value of equity / Post issuance total numbers of shares = $10,340,000,000 / 188,000,000 shares = $55 per share

There is no effect of share issue on the price of the share.

Adidea Corp. regularly buys merchandise from vendors. It just purchased 1,000 units on credit from one of its vendors. How will the company record this transaction?

The company will record the purchase as a debit to the inventory account and a credit to the ________ account.

Answers

Answer:

Vendor's account/ accounts payable

Explanation:

Merchandise is an asset to the company. An increase in assets is debited to that particular merchandise or inventory account.

Since the merchandise was bought on credit, liabilities will increase. An increase in liabilities is credited to the specific vendor's account who supplied the goods on credit.

Wildhorse Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 144,000 miles. Taxi 10 cost $29,000 and is expected to have a salvage value of $200. Taxi 10 was driven 31,000 miles in 2021 and 33,500 miles in 2022.
Determine the depreciation cost. (Round answer to 2 decimal places, e.g. 1.25.) per unit
Depreciable costs
eTextbook and Media
Compute the depreciation for each year. 2021 2022
Depreciation expense $

Answers

Answer:

depreciation expense 2021 = $6,200

depreciation expense 2022 = $6,700

Explanation:

depreciable value = $29,000 - $200 = $28,800

depreciation expense per mile driven = $28,800 / 144,000 = $0.20

number of miles driven during 2021 = 31,000

depreciation expense 2021 = 31,000 x $0.20 = $6,200

number of miles driven during 2020 = 33,500

depreciation expense 2022 = 33,500 x $0.20 = $6,700

The trial balance before adjustment of Taylor Swift Inc. shows the following balances.
Dr. Cr.
Accounts Receivable $90,000
Allowance for Doubtful Accounts 1,750
Sales Revenue (all on credit) $680,000
Instructions Give the entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts on the basis of (a) 4% of gross accounts receivable and (b) 5% of gross accounts receivable and Allowance for Doubtful Accounts has a $1,700 credit balance. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.
No. Account Titles and Explanation Debit Credit

Answers

Answer:

A. Dr Bad Debt Expense$5,350

Cr Allowance for Doubtful account$5,350

B. Dr Bad Debt Expense $2,800

Cr Allowance for Doubtful account$2,800

Explanation:

Preparation of the journal entry for the estimated bad debts

A. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:

Dr Bad Debt Expense$5,350

Cr Allowance for Doubtful account$5,350

[(4%*90,000)-1,750]

B. Based on the information given the Journal entry for estimated bad debts assuming that the allowance is to provide for doubtful accounts will be:

Dr Bad Debt Expense $2,800

Cr Allowance for Doubtful account$2,800

[(5%*90,000)-1,700]

Aimee is a salaried nonexempt employee who earns an annual salary of $56,000 for a 43-hour workweek, paid biweekly. The employer pays overtime for any hours worked in excess of 43 per week. During a pay period, she worked 95 hours. She has requested that she take compensatory time in lieu of paid overtime. How much compensatory time should she receive, assuming that her firm approves the compensatory time

Answers

Answer:

the compensatory time that would be received is 13.5 hours

Explanation:

The computation of the compensatory time that would be received is as follows:

Actual hours worked 95

Less: Regular working hours 86 (43 hours × 2)

Overtime hours worked 9

Now

Compensatory time 13.5 (9 hours × 1.5)

Hence, the compensatory time that would be received is 13.5 hours

b. Which of the following combinations of fishing lures and duck decoys is unobtainable to Mountain Mack in one week's worth of carving? multiple choice 1 10 fishing lures and 40 duck decoys 20 fishing lures and 10 duck decoys 40 fishing lures and 0 duck decoys 16 fishing lures and 30 duck decoys c. Which of the following combinations of fishing lures and duck decoys is an efficient combination? multiple choice 2 16 fishing lures and 30 duck decoys 10 fishing lures and 40 duck decoys 50 fishing lures and 0 duck decoys 20 fishing lures and 10 duck decoys

Answers

Question Completion:

Production Possibilities Frontiers

Duck decoys     Fishing lures

0                              120

6                              100

12                              80

18                              60

24                            40

30                            20

36                            0

Answer:

Mountain Mach

Production Possibilities Frontiers:

1. The combinations of fishing lures and duck decoys that is unobtainable to Mountain Mach is:

10 fishing lures and 40 duck decoys

2. The combinations of fishing lures and duck decoys that is an efficient combination for Mountain Mach is:

16 fishing lures and 30 duck decoys

Explanation:

Mountain Mack's Production Possibilities Frontier (PPF) is a graphical illustration of the production possibilities of carving duck decoys and fishing lures with fixed resources.  The PPF indicates the information about the tradeoff between devoting resources to carving duck decoys versus carving fishing lures.  It shows that there is an opportunity cost if Mountain Mack chooses to produce more duck decoys than fishing lures and vice versa.  With PPF, Mountain Mack is able to make efficient decisions by determining the best combination of goods and allocating resources accordingly.

L. Lyons started a business, called Lyons Share, by investing $4,000 for stock. Illustrate how to record the transaction in Lyons Share's T-accounts by completing the following sentence. The Cash account would be blank input field 1_(debited/credited) on the blank input field 2(left/right) side of the T-account and the Common Stock account would be blank input field 3(debited/credited) on the blank input field 4 (left/right) side of the T-account. (Enter one word per blank.)

Answers

Answer:

Dr Cash Account (Left side)

Cr Common stock (Credit side)

Explanation:

Preparation of entry to Illustrate how to record the transaction in Lyons Share's T-accounts

Based on the information given how to record the transaction in Lyons Share's T-accounts will be :

The CASH ACCCOUNT would be DEBITED on the LEFT SIDE of the T-account reason been that debit side is often on the left hand side and Secondly the amount of 4,000 was the cash that was Invested for stock which is why cash Account will be debited.

COMMON STOCK account would be CREDITED on the RIGHT SIDE of the T-account reason been that the amount of 4,000 was Invested for stock which is why comm stock account will be credited.

Therefore entry to Illustrate how to record the transaction in Lyons Share's T-accounts will be:

Dr Cash Account (Left side)

Cr Common stock (Credit side)

Hunt Advertising is collaborating on an initiative with the Odessa Arts Council, a nonprofit organization, by providing public-relations training to working professionals throughout West Texas. Twenty percent of the fee that the participants would pay is given to the nonprofit organization. The nonprofit organization in turn reaches a wider range of audience across West Texas for its training program. This scenario illustrates _______.

Answers

Incomplete question. The options:

a.  green marketing

b.  effect-related marketing

c.  cause-related marketing

d. relationship marketing

Answer:

c.  cause-related marketing

Explanation:

Note, a marketing effort that is centered primarily on making an impact or a said cause; usually, it involves a mutually benefiting agreement, in which a corporation would collaborate with a non-profit such that

the corporation benefits (maybe in terms of sales), andthe non-profit benefits in terms of fulfilling a cause.

The idea is that consumers would be drawn if they see that when they pay for a particular service or product, they will be contributing to a good cause.

Universal Manufacturing uses a weighted-average process-costing system. All materials are introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the process. The company's beginning and ending work-in-process inventories totaled 10,000 units and 15,000 units, respectively, with the latter units being 2/3 complete at the end of the period. Universal started 30,000 units into production and completed 25,000 units. Manufacturing costs follow. Beginning work in process: Materials, $60,000; conversion cost, $150,000 Current costs: Materials, $180,000; conversion cost, $480,000 Universal's equivalent-unit cost for conversion cost is:

Answers

Answer:

Universal Manufacturing

Equivalent unit cost for conversion cost is $18.

Explanation:

a) Data and Calculations:

Beginning work in process = 10,000 units

Ending work in process = 15,000 units

Units started = 30,000 units

Units completed = 25,000 units

Cost of:              Materials       Conversion

Beginning WIP   $60,000        $150,000

Current costs     180,000          480,000

Equivalent units of production:  Materials Degree       Conversion  Degree

Units started and completed      25,000     100%          25,000        100%

Ending WIP                                   15,000      100%          10,000         2/3

Total equivalent unit                   40,000                        35,000

Total cost of production:

Cost of:              Materials       Conversion

Beginning WIP   $60,000        $150,000

Current costs     180,000          480,000

Total cost        $240,000       $630,000

Cost per equivalent unit:

                                      Materials       Conversion   Total cost

Total cost                      $240,000       $630,000   $870,000

Total equivalent unit         40,000           35,000

Cost per equivalent unit   $6                  $18

b) Using the weighted average method, the costs in beginning inventory and current period costs are added and divided by the equivalent units of materials and conversion costs in order to establish an equivalent unit cost.  The equivalent cost per unit in process costing describes the average unit cost for each product.

Ivanhoe Company issued $492,000 of 10%, 20-year bonds on January 1, 2017, at 104. Interest is payable semiannually on July 1 and January 1, Ivanhoe Company uses the straight-line method of amortization for bond premium or discount.
Prepare the journal entries to record the following.
(a) The issuance of the bonds.
(b) The payment of interest and the related amortization on July 1, 2017.
(c) The accrual of interest and the related amortization on December 31, 2017.

Answers

Answer:

Explanation:

For  answer , see the attached file.

The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is (calculate all ratios and percentages to 2 decimal places, for example 33.33%, and round all dollar amounts to the nearest whole dollar): $2,213,640. $939,240. $216,870. $757,800. $447,120.

Answers

Answer:

$2,213,640

Explanation:

Calculation for the amount of joint costs allocated to product DBB-1 using the sales value at split-off method

First step is to calculate the total amount

DBB-1= 16,000 units *$25

DBB-1= 400,000

DBB-2= 24,000 units *$35

DBB-2= 840,000

DBB-2= 36,000 units *$55

DBB-2= 1,980,000

Total =3,220,000

(400,000+840,000+1,980,000)

Second step is to calculate the Weight for DBB-3

Weight for DBB-3= 1,980,000 / 3,220,000 Weight for DBB-3=61.49%

Now let calculate the Joint cost for DBB-3

Joint cost for DBB-3=$36,00,000*61.49%

Joint cost for DBB-3=$2,213,640

Therefore The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is $2,213,640

MM Proposition I with corporate taxes states that:

I. capital structure can affect firm value by an amount that is equal to the present value of the interest tax shield;
II. by raising the debt-to-equity ratio, the firm can lower its taxes and thereby increase its total value;
III. firm value is maximized by using an all-equity capital structure

a. I only
b. II only
c. III only
d. I and II

Answers

Answer:

d.) I and II

Explanation:

The first proposition can be regarded as proposition that gives a clam that capital structure of a company has no impact on the value. The value of a company is been known as present value of future cash flows when it's calculated, then it cannot be affected by capital structure. It should be noted that MM Proposition I with corporate taxes states that capital structure can affect firm value by an amount that is equal to the present value of the interest tax shield.

Suppose that three firms make up the entire tire manufacturing industry. One has a 40% market share, and the other two have a 30% market share each. The Herfindahl index of this industry is . Tread Tough, one of the firms with a 30% market share in the tire manufacturing industry, leaves the market. This would cause the Herfindahl index for the industry to .

Answers

Answer:

3400

increase

Explanation:

the Herfindahl index is used to calculate the concentration of firms in an industry

The HHI is calculated by squaring the market share of each firm in the industry.

40² + 30² + 30² = 3400

If one of the firms leaves the industry, the industry becomes more concentrated and the HHI index would increase

One current answer to the historical struggle within management to balance the things of production and the humanity of production is social business, including the use of social media. Please indicate if the social media benefits listed below aid a thing of production or the humanity of production. Social media benefit Thing of production Humanity of production Improve efficiency Facilitate collaboration

Answers

Answer:

Humanity of production

Explanation:

An investor found the following in an annual report: "The financial statements, in our opinion, present fairly the financial position, operating results, and cash flows, in conformity with accounting principles generally accepted in the United States." In which section of the annual report did the investor find this?

Answers

Answer:

Report of the Independent Accountants

Explanation:

From the question we are informed about An investor who found the following in an annual report: "The financial statements, in our opinion, present fairly the financial position, operating results, and cash flows, in conformity with accounting principles generally accepted in the United States." The section which the annual report was fond by the investor is Report of the Independent Accountants. Independent Accountant's Report can be regarded as a report that encompass broad spectrum of work that has been carried out through an accountant of an independent firms. And this is usually carried for

charitable as well as commercial organisations in public as well as private sector.

In the current year, Big Burgers, Inc., expanded its fast-food operations by opening several new stores in Texas. The company incurred the following costs in the current year: market appraisal ($50,000), consulting fees ($72,000), advertising ($47,000), and traveling to train employees ($31,000). The company is willing to incur these costs because it foresees strong customer demand in Texas for the next several years. What amount should Big Burgers report as an expense in its income statement associated with these costs?

Answers

Answer:

$200,000

Explanation:

The computation of the amount that should be reported as an expense is given below;

= Market appraisal + consulting fees + advertising + travelling to train employees

= $50,000 + $72,000 + $47,000 + $31,000

= $200,000

Swifty Corporation issued 100000 shares of $10 par common stock for $1250000. A year later Swifty acquired 15900 shares of its own common stock at $15 per share. Three months later Swifty sold 8500 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 8500 treasury shares, Swifty should credit

Answers

Answer:

the journal entries should be:

Dr Cash 1,250,000

    Cr Common stock 1,000,000

    Cr Additional paid in capital 250,000

Dr Treasury stock 238,500

    Cr Cash 238,500

Dr Cash 161,500

    Cr Common stock 85,000

    Cr Additional paid in capital 76,500

Which of the following principles underlies the interaction of individual choices? a Marginal analysis is used for "how much" decisions. b People usually exploit opportunities to make themselves better off. c Resources are scarce. d There are gains from trade.

Answers

Answer:

d There are gains from trade.

Explanation:

A trade can be defined as the process that typically involves the buying and selling of goods and services between a buyer (consumer) and a seller (producer).

Thus, trade creates an enabling environment that suits a specific service provider or producer of a particular product.

Basically, the interaction of individual choices underlies the fact that there are gains from trade.

This ultimately implies that, as a result of the difference between human needs and wants, there is always an opportunity for various producers to manufacture goods and services to meet the needs or requirements of these customers.

The following selected information was extracted from the 20x1 accounting records of Lone Oak Products:

Raw material purchases $175,000
Direct labor 254,000
Indirect labor 109,000
Selling and administrative salaries 133,000
Building depreciation* 80,000
Other selling and administrative expenses 195,000
Other factory costs 344,000
Sales revenue ($130 per unit) 1,495,000

Seventy-five percent of the company's building was devoted to production activities; the remaining 25 percent was used for selling and administrative functions.
Inventory data:

January 1 December 31
Raw material $15,800 $18,200
Work in process 35,700 62,100
Finished goods 111,100 97,900

The January 1 and December 31 finished-goods inventory consisted of 1,350 units and 1,190 units, respectively.

Required:

a. Calculate Lone Oak's manufacturing overhead for the year.
b. Calculate Lone Oak's cost of goods manufactured.
c. Compute the company's cost of goods sold.
d. Determine net income for 20x1, assuming a 30% income tax rate.
e. Determine the number of completed units manufactured during the year.

Answers

Answer:

a. $513,000

b. $913,200

c. $926,400

d. $344,100

e. 11,340 units

Explanation:

a. manufacturing overhead for the year.

Manufacturing Overhead = indirect manufacturing costs

therefore,

Manufacturing Overhead = $109,000 (Indirect labor) + $80,000 x 75 % (Building depreciation) + $344,000 (Other factory costs)

                                          = $513,000

b. cost of goods manufactured.

Cost of Goods Manufactured = Beginning Work In Process + Manufacturing Costs for the Period - Ending Work In Process

                                                 = $35,700 + ($15,800 + $175,000 - $18,200) + $254,000 + $513,000 - $62,100

                                                 = $913,200

c. cost of goods sold.

Cost of Goods Sold = Beginning Finished Goods + Cost of Goods Manufactured - Ending Finished Goods

                                 = $111,100 + $913,200 - $97,900

                                 = $926,400

d. net income for 20x1, assuming a 30% income tax rate.

Net Income = Gross Profit (Sales - Cost of Goods Sold) - Expenses

                    = $1,495,000 - $133,000 - $195,000 - ($80,000 x 25%)

                    = $1,147,000

Income tax = 1,147,000 x 30%

                   = $344,100

therefore,

Net Income = $1,147,000 - $344,100 = $802,900

e. number of completed units manufactured during the year.

First Calculate Number of Units Sold

Number of Units Sold = 1,495,000 ÷ $130 = 11,500 units

Units manufactured = Units Sold + Ending Finished Inventory - Beginning Finished Inventory

                                 = 11,500 + 1,190 - 1,350

                                 = 11,340 units

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