Answer: $16,275
Explanation:
The amount for the adjusting entry to provide for doubtful accounts at year end is;
= Credit sales * Percentage of accounts expected uncollectible
= ( 3,100,000 * 70%) * 0.75%
= $16,275
This and the following three questions are related: Suppose that you are a major airline that has budgeted a price of fuel of 1.3840 USD/gal for fiscal year 2021 and you plan to end up buying 1 million gallons of it. To hedge against possible increases in the price you buy a one-year call option with a strike price of 1.4539 USD/gal for 1 million gallons with a premium of 1 cent/gal. How much would you the total premium of the option be
Answer:
A. 10,000 USD
Explanation:
Total premium will be as given below
= 1 million gallons * 1 cent/gal
= 1,000,000 * (1/100)
= 10,000USD
Note: Options to question is as attached
What can a credit freeze accomplish that a fraud alert cannot? A credit freeze can remove any inaccurate or fraudulent information. A credit freeze can allow your credit report to be visible. A credit freeze can prevent anyone from viewing your credit report. A credit freeze can stop someone from opening an account in your name.
Answer: A credit freeze can stop someone from opening an account in your name.
Explanation:
A credit freeze accomplishes that a fraud alert cannot, is that A credit freeze can stop someone from opening an account in your name. Thus, option (D) is correct.
What is a Credit freeze?A credit freeze is the technique which enables a person to limit the sale of personal financial data identifying information by a consumer reporting agency. The consumer reporting agency's data is locked by a credit freeze until the person authorizes its release.
It is the facility provided by the agency to secure the personal financial information to kept safe and secure. It is necessary for every person to credit freeze the financial information.
Therefore, it can be concluded that A credit freeze can prevent someone from opening an account in your name, which is something a fraud alert cannot do. Hence, option (D) is correct.
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5. Firm Q is about to engage in a transaction with the following cash flows over a three-year period: Year 0 Year 1 Year 2 Revenue Received $10,000 $12,500 $18,000 Deductible expenses (3,400 (5,000 (7,000 Nondeductible expenses (800 (1,100 -0- If the firm’s marginal tax rate over the three-year period is 35% and its discount rate is 10%, compute the net present value of the transaction.
Answer: $12,830.91
Explanation:
Year 0
Net Cash = Revenue - Expenses - Tax
Tax = (Revenue - Deductible expenses) * tax rate
= ( 10,000 - 3,400) * 0.35
= $2,310
Net Cash = 10,000 - 3,400 - 800 - 2,310
= $3,490
Present Value is the same as this is Year 0.
Year 1
Tax = (Revenue - Deductible expenses) * tax rate
= ( 12,500 - 5,000) * 0.35
= $2,625
Net Cash = 12,500 - 5,000 - 1,100 - 2,625
= $3,775
Present Value is;
= 3,775 / ( 1 + 10%)
= $3,431.82
Year 2
Tax = (Revenue - Deductible expenses) * tax rate
= ( 18,000 - 7,000) * 0.35
= $3,850
Net Cash = 18,000 - 7,000 - 0 - 3,850
= $7,150
Present Value is;
= 7,150 / ( 1 + 10%) ^ 2
= $5,909.09
Net Present Value = PV0 + PV1 + PV2
= 3,490 + 3,431.82 + 5,909.09
= $12,830.91
Do you think the study of Financial Accounting can help you in running your business? Why?
Answer:
It could save you alot of money, personally I run my own online business, and I do all the accounting myself instead of hiring someone to do it, although its very time consuming.
Which type of factor of production is a road?
erm it's the goods one so it's secondary
How does the supply chain theory work with the distribution function?
Answer:
In simple words, Distribution can be characterised as a step-by - step process for transferring goods from manufacturers to end users. Distribution happens from the preceding point at any level of the supply process, including vendors, distributors or consumers.
Input materials are transported from producers to factories, and finished products are passed from factories to consumers. Distribution influences the quality of the supply chains and the consumer's service. In India, cement prices are around 30% of that same cost of manufacturing and selling cement.
Jim Company bought a machine for $36,000 with an estimated life of 5 years. The residual value of the machine is $6,000. This machine is expected to produce 120,000 units. In year 1, it produced 19,000 units, and in year 2, 38,000 units. Assuming the units-of-production method, calculate the first 2 years’ depreciation.
Answer:
Year 1 $4,750
Year 2 $9,500
Explanation:
Calculation for the first 2 years' depreciation
Since we were told that in year 1 it produced 19,000 units which means that the depreciation will be calculated as :
Year 1 Depreciation =19,000 units÷4 years
Year 1 Depreciation=$4,750
Calculation for Year 2 Depreciation
Since we were told that in year 2, 38,000 units was produce which means that the Depreciation will be calculated as :
Year 2 Depreciation =19,000 units÷2 years
Year 2 Depreciation =$9,500
Therefore Year 1 depreciation will be $4,750 while Year 2 depreciation will be $9,500.
The following is a partial list of accounts from Pearl Jam Company: Accounts receivable $3,600 Accounts payable 2,950 Building 79,800 Cash 7,800 Common stock 25,000 Dividends 2,400 Insurance expense 900 Retained earnings 17,500 Salary expense 28,000 Salary payable 1,800 Service revenue 113,200 For the trial balance, what is the DEBIT column total
Answer:
The debit column total is $122,500.
Explanation:
A trial balance is a list of balances (debit and credits) extracted from the Ledger Accounts. It is used to prepare Financial Statements.
Pearl Jam Company trial balance is prepared as follows :
Trial Balance
Debit $ Credit $
Accounts receivable 3,600
Accounts payable 2,950
Building 79,800
Cash 7,800
Common stock 25,000
Dividends 2,400
Insurance expense 900
Retained earnings 17,500
Salary expense 28,000
Salary payable 1,800
Service revenue 113,200
Totals 122,500 160,450
Which of the following statements is true of offshoring?a. It is invariably the same thing as outsourcing.b. It typically involves arranging for other organizations to perform value chain functions that were previously performedinternally.c. It requires outsourcing.d. It means moving processes previously performed domestically to a foreign location.
Answer: d. It means moving processes previously performed domestically to a foreign location.
Explanation: Large organizations may often base or allot different business process or operations in different locations. Hence, offshoring may be explained as a business practice whereby certain business processes are moved from its previous domestic base to a foreign location. The concept of offshoring is usually a well thought of process whereby organizations relocate to regions that affords more in terms of cost effectiveness in production where they could more easily secure raw materials, available market to sell, skilled and unskilled labors, machineries and other factors capable of fostering productivity.
Add the following and reduce to lowest terms: 61/8+4 3/8=
Answer:
10 1/2 or 10.5
Explanation:
6,1/8 + 4,3/8
= 49/8 + 35/8
= 49 + 35
8
= 84/8
= (84/4) / (8/4)
= 21/2
= 10 1/2 or 10.5
What are the three tools the Fed uses to keep the economy stable?
Explanation:
The main function of Fed or Federal Reserve (established in 1913), is to manage the growth of bank reserves and money supply (for the stable expansion of the economy). The tools used by the Fed are as follows :
Opening the marketing operations.The changes in discount rate can be done.Changing the reserve ratio (ratio of percentage of reserves a bank is required to hold against deposits)On January 2, 20X1, Meister Company issues $200,000 of 6% bonds. Interest of $6,000 is payable semi-annually on June 30 and December 31. The bonds mature in 5 years. The market yield for bonds of similar risk and maturity is 7%. Utilizing the time value of money tables in your book, calculate the issue price of the bonds (round the result to whole dollars).
Answer:
January 2, 20x1, bonds issues at a discount
Dr Cash 191,600
Dr Discount on bonds payable 8,400
Cr Bonds payable 200,000
Explanation:
the bonds' current market value = PV of face value + PV of coupon payments
The bond has a 6 percent coupon rate, matures in 5 years (10 semiannual periods), and the market rate is 7%:
PV of face value = $1,000 / (1 + 3.5%)¹⁰ = $708.92
PV of coupon payments = 30 x 8.31661 (PV annuity factor, 3.5%, 10 periods) = $249.50
bond's market value = $958.42 ≈ $958 x 200 bonds = $191,600
At the beginning of the call, the team members ask how one another is doing and mention the weather. What piece of advice for virtual meetings does
this best match?
Answer:
At the beginning of the virtual meeting it is okay to start with small talks such as the weather.
Explanation:
No option was given here so I think the answer is to make room for small talk. Opening up straight with the meetings agenda is not a very good way to start. By using small talks, each member of the meeting would be more open and flow better with the meetings agenda. Before the meeting starts a few minutes of small talk such as these would get everyone warmed up. And members would feel more comfortable.
The piece of advice for virtual meetings does this best match should be like small talks like how was the weather there.
Virtual meeting:The meeting that should be conducted online is known as the virtual meeting. By starting with the main thing of meeting should not give the good impact.
So its better to start with the small talks so that everyone in the meeting should be feel comfortable first and according to the conversation, the agenda of the meeting should be come with.
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Kansas Enterprises purchased equipment for $73,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,500 at the end of five years. Using the double-declining balance method, depreciation expense for 2022 would be:___________.
a. $26,200
b. $15.720
c. $17.520
d. $29.200
Answer: 29.200
Explanation:
Peta Corporation and its subsidiary reported consolidated net income of $320,000 for the year ended December 31, 20X8. Peta owns 80 percent of the common shares of its subsidiary, acquired at book value. Noncontrolling interest was assigned income of $30,000 in the consolidated income statement for 20X8. What is the amount of separate operating income reported by Peta for the year
Answer: $170,000
Explanation:
Based on the information provided in the question, the amount of separate operating income that will be reported by Peta for the year goes thus:
The total income of subsidiary is calculated as:
= [30000/(100 - 80)] × 100
= (30000/20) × 100
= 1500 × 100
= 150000
Therefore, the operating income of Peta will be:
= Consolidated income - the total Subsidiary income
= $320000 - $150000
= $170000
se the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,600 Cost of goods sold 7,290 Depreciation 400 Earnings before interest and taxes $ 910 Interest paid 80 Taxable income $ 830 Taxes 291 Net income $ 539 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 140 $ 175 Accounts payable $ 1,150 $ 1,205 Accounts rec. 900 700 Long-term debt 990 1,255 Inventory 1,500 1,535 Common stock 3,190 2,890 Total $ 2,540 $ 2,410 Retained earnings 450 700 Net fixed assets 3,240 3,640 Total assets $ 5,780 $ 6,050 Total liab. & equity $ 5,780 $ 6,050 What is the return on equity for 2017? Multiple Choice 17.73% 18.65% 25.35% 15.01% 31.49% Next Visit question mapQuestion 1 of 16 Total1 of 16 Prev
Answer:
15.01%
Explanation:
The computation of the return on equity for the year 2017 is shown below:
Return on Equity is
= Net Income ÷ Total Equity
where,
net income is $539 million
And, the total equity is
= Common stock + retained earnings
= $2,890 + $700
= $3,590 million
So, the return on equity is
= $539 million ÷ $3,590 million
= 15.01%
Which of the following is an example of a criminal offense?
A. Check forging
B. Hitting a parked car
C. Evicting a tenant without due process
D. Being late on credit payment
Helpppppp
Answer:
B
Explanation:
it said to answer it has to have at least 20 letters so im just typing stuff now
Answer:
Evicting a tenant without due process
Explanation:
1. Sid bought a new $1,500,000 seven-year class asset on August 2, 2020. On December 2, 2020, he purchased $900,000 of used five-year class assets. If Sid elects Sec. 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2020
Answer:
Total cost recovery deduction = 1251450
Explanation:
Given the seven-year class asset bought by the Sid = $1500000
On 2nd December the five-year class asset bought = $900000
Now we have to find the cost recovery deduction for 2020.
900000/(900000 + 1500000) = 37.5% Thus, use half-year convention and avoid mid quarter
1500000 – 1,000,000 (Sec 179 limit) = 500000
500000 x 14.29% = 71450
900,000 x 20% = 180,000
1,000,000 + 71450 + 180,000
Cost recovery for 7 year asset = 1,071450
Cost recovery 5 year asset = 180000
Total cost recovery deduction = 1251450
Assume that the level of capital flows between the U.S. and the country of Krendo is negligible (close to zero) and will continue to be negligible. There is a substantial amount of trade between the U.S. and the country of Krendo and no capital flows. Thus, the inflation effect will be _____ than the interest rate effect in influencing the exchanger rate of Krendo against U.S. dollar.
Answer:
Stronger
Explanation:
Given that inflation affects trade flows, as the higher price of commodities have negative impacts on exports rates. Thus, all things being equal, it is expected that high inflation should cause downward pressure on the exchanger rate of Krendo.
Hence, the inflation effect will be STRONGER than the interest rate effect in influencing the exchanger rate of Krendo against the U.S. dollar.
Which of the following is true about organizational change?
A. Organizations subscribe to only one set of values.
B. The basic underlying assumptions of organizational culture are relatively easy to change.
C. Organizational change is more likely to succeed if there is a great deal of inconsistency between individual values and organizational values.
D. Organizations are less likely to accomplish corporate goals when employees perceive an inconsistency between the espoused values of the organization and their own personal characteristics.
Answer:
D. Organizations are less likely to accomplish corporate goals when employees perceive an inconsistency between the espoused values of the organization and their own personal characteristics.
Explanation:
When employees are not aligned or do not agree with company values such that their individual/personal values contradict that of the company, there is high likelihood that the company would be to reach it's company goals. This is because employees have to synchronize and internalize company values with theirs in order to move to achieve company goals. Example of some of the values of a company go against the moral values of some of the employees, there is an inconsistency here that could lead to less motivation from employees in achieving company goals
Organizations are less likely to accomplish corporate goals when employees perceive an inconsistency between the espoused values of the organization and their own personal characteristics. Option (d) is correct.
There is a strong possibility that the firm won't achieve its objectives if employees are not in line with or disagree with the company's principles to the extent that their personal and individual beliefs do. This is due to the fact that in order to proceed toward achieving company goals, personnel must synchronize and internalize company values with their own.
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Under The Factoring Arrangement, The Factor
Answer:
Hope this may help you
1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the successful operation of a supermarket: a. Customer satisfaction b. Forecasting c. Capacity planning d. Location e. Inventory management f. Layout of the store g. Scheduling 3. What are some of the ways Wegmans uses technology to gain an edge over its competition?
Answer:
1. How do customers judge the quality of a supermarket?
They judge the quality of a supermarket depending on their values and most urgent needs.
Customers who value quality, and even luxury, will say that a good supermarket is one that offers high quality products.
Customers who value price, will prefer a low-cost supermarket.
2. Indicate how and why each of these factors is important to the successful operation of a supermarket:
a. Customer satisfaction - a very important factor because it determines how well the supermarket is serving its customers.
b. Forecasting - the supermarket needs to forecast all sorts of things, from, sales forecasts, to profit forescasts, to costs forecasts.
c. Capacity planning - the supermarket needs to know what it is actually able to do, and what projects it can embark on, for this, it needs to do a lot of capacity planning.
d. Location - Location is extremely important for a supermarket. It determines a large part of the customer demand because customers prefer supermarkets to be close to where they live.
e. Inventory management - Supermarkets need to manage inventories carefully, specially because a lot of the goods that a supermarket sells, are perishables.
f. Layout of the store - The Supermakert needs to be careful when determining the layout of the store. Customers want a layout that is easy to navigate, and where goods are placed according to a coherent classification.
g. Scheduling - The supermarket needs to establish a convenient schedule for its customer base.
What are some of the ways Wegmans uses technology to gain an edge over its competition?
Wegmans is characterized for its early adoption of ground-breaking technologies. For example, recently Wegmans developed a mobile application to assist blind shoppers.
Consumer tastes and Preferences:Diets Promote Low Car Craze(low carbohydratefood). What happens to the demand for pasta (a high carb food)?
Answer
Are there any answer choices
Explanation:
You are engaged to examine the financial statements of Spillane Company for the year ended December 31. Assume that on November 1, Spillane borrowed $500,000 from Second National Bank to finance plant expansion. The long-term note agreement provided for the annual payment of principal and interest over five years. The existing plant was pledged as security for the loan. Due to the unexpected difficulties in acquiring the building site, the plant expansion did not begin on time. To use the borrowed funds, management decided to invest in stocks and bonds and on November 16, invested the $500,000 in publicly traded securities. Required: Identify the relevant financial statement assertions for the publicly traded securities account (an asset) based on the PCAOB's five management assertions about the financial statements.
Answer:
Assertion 1) Existence or occurrence: the company must provide the loan documents along with proof that they actually purchased the stocks and bonds using the loan money. It would also help to have a document explaining why the building site couldn't be acquired as planned.
Assertion 2) Rights and obligations: all the legal paperwork regarding the loan, the mortgage on the existing plant and the stocks and bond paperwork must be presented.
Assertion 3) Completeness: all the relevant information must be given to the auditor including building titles, inventories, equipment, cash receipts, etc. The auditor should be allowed to physically visit the plant and confirm the documents.
Assertion 4) Valuation and allocation: information regarding the current market values of the building, inventories and equipment should be given to the auditor. The auditor should be able to confirm if the depreciation values and market values are consistent. Also, the auditor must have access to accounts receivables and should be able to analyze them to check for any inconsistencies.
Assertion 5) Presentation and disclosure: the auditor should be able to check expense accounts and capitalization accounts, and analyze them. E.g. equipment or machinery repairs must be treated as expenses and not capitalized.
Baker Industries’ net income is $24,000, its interest expense is $6,000, and its tax rate is 25%. Its notes payable equals $24,000, long-term debt equals $75,000, and common equity equals $250,000. The firm finances with only debt and common equity, so it has no preferred stock. What are the firm’s ROE and ROIC? Do not round intermediate calculations. Round your answers to two decimal places.
Answer:
ROE = 9.6% , ROIC = 8.17%
Explanation:
1) ROE = Net Income / Common Equity
ROE = $24,000 / $250,000
ROE = 0.096
ROE = 9.6%
2) ROIC = [EBIT * (1-tax rate)] / Total Invested capital
EBT = Net income *100 / (100% - T)
EBT = $24,000 * 100% / 75%
EBT = $24,000 * 1.3333
EBT = $31,999
EBIT = EBT + interest = $31,999 + $6,000
EBIT = $37,999
Invested capital =Notes payable + Long term Debt + Common stock
Invested capital = $24,000 + $75,000 + $250,000
Invested capital = $349,000
ROIC = [$37,999 * (1 - 0.25)] / $349,000
ROIC = [$37,999 * 0.75] / $349,000
ROIC = $28,499.25 / $349,000
ROIC = 0.081660
ROIC = 8.17%
________is due to the inability to "successfully" adapt in the new country.
Answer:
Acculturative stress
Explanation:
Acculturation can be defined as the experiences and changes, which may be psychological, social or cultural that individuals and group of people undergo when they come into contact or are trying to adapt with a different culture in a society.
Hence, acculturation involves the process of transferring customs, beliefs and values from a cultural group to another.
This ultimately implies that, acculturative stress is due to the inability to "successfully" adapt in the new country. For instance, an African immigrant who migrates to the United States of America may experience a significant level of stressors in adapting to the cultural values, customs and beliefs of the people living in the particular state or region.
During the current year, Elk Company incurred the following direct labor costs: January $40,000 and February $60,000. Elk uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $39,000 and $71,400. Actual overhead for the 2 months, respectively, totaled $50,000 and $67,000. Was overhead under- or overapplied during January and by how much?
Answer:
January Overheads are under-applied by $2,000.
Explanation:
When,
Actual overheads > Applied overheads we say overheads are under-applied.
Actual overheads < Applied overheads we say overheads are over-applied.
Where,
Applied overheads = Predetermined overhead rate × Actual Activity
Therefore,
Applied overheads (January) = 120% × $40,000
= $48,000
Actual overheads (January) = $50,000.
Conclusion
It can be seen that from the above : Actual overheads : $50,000 > Applied overhead : $48,000, therefore overheads were under-applied.
Amount of under-applied overheads = $50,000 - $48,000
= $2,000
What are the three primary sources of assets?The three primary sources of assets are(1) investments by owners (issue of stock),(2) borrowing from creditors, and(3) earnings activities.
Answer:
True
Explanation:
The three main sources of assets for a business are:
investments by owners (total paid in capital), refers to the money that the owners are willing to invest in the company and it should be used to finance operating activities. borrowing from creditors, refers to both long term and short liabilities that allow the company to increase their assets, e.g. merchandise or equipment purchased on credit, or a loan. earnings activities, refers to the company's retained earnings from previous years that is reinvested in new or existing projects.why is it important to understand the competition your business faces?
Answer:
It can help you to make your products, services and marketing stand out. You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses, and improve your own business performance.
A manufacturer of tiling grout has supplied the following data:
Kilograms produced and sold 340,000
Sales revenue $1,910,000
Variable manufacturing expense $956,000
Fixed manufacturing expense $258,000
Variable selling and administrative expense $363,000
Fixed selling and administrative expense $224,000
Net operating income $109,000
The company's contribution margin ratio is closest to:_______.
(A) 49.9%
(B) 81.0%
(C) 30.9%
(D) 74.8%
Answer:
(C) 30.9%
Explanation:
Calculation for the company's contribution margin ratio
First step is to find the Contribution margin using this formula
Contribution margin = Sales - Variable expenses
Let plug in the formula
Contribution margin = $1,910,000-$1,319,000
Contribution margin = $591,000
Second step is to calculate for the Contribution margin ratio using this formula
Contribution margin ratio= Contribution margin ÷ Sales
Let plug in the formula
Contribution margin ratio = $591,000 ÷ $1,910,000
Contribution margin ratio = 0.309×100
Contribution margin ratio=30.9%
Calculation for Total Variable expenses
Variable manufacturing expense $956,000
Variable selling and administrative expense $363,000
Total $1,319,000
Therefore the Contribution margin ratio will be 30.9%
The company's contribution margin ratio is closest to 30.9%. A company's contribution margin ratio (CM ratio) is determined by dividing revenue by revenue less all variable costs. It stands for the small gain from manufacturing an extra unit. Thus, option C is correct.
The company's contribution margin ratio is calculated as:
Sales minus variable costs equal contribution margin.
formula:
Margin of contribution = $1,910,000 - $1,319,000
Margin of contribution = $591,000
The Contribution margin ratio is calculated in the following step using this formula.
Sales Contribution Margin to Calculate Contribution Margin Ratio
formula:
The ratio of contribution: $591,000 divided by $1,910,000
Contribution margin ratio: 0.309 to one hundred.
The ratio of contribution is 30.9%
Total Variable Expense Calculation
$956,000 in variable manufacturing costs
$363,00 in variable marketing and administrative costs
Total $1,319,000
The Contribution Margin Ratio will thus be 30.9%.
Revenue is less variable costs equal contribution margin. The formula for calculating the contribution margin ratio is (Revenue - Variable Costs) / Revenue.
The contribution margin may not always be a reliable indicator of economic gain. There may be major fixed costs that businesses must take into account. To ascertain how many units must be sold at what price for a business to break even, a break-even analysis may be necessary.
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