Given the following information, calculate the going-in capitalization rate for the following apartment complex. In your calculations, assume no miscellaneous income and above-the-line treatment of capital expenditures.

Number of apartment units: 15
Monthly rent per unit: $3,000
Vacancy and collection loss: 10% of potential gross income
Operating expenses: 5% of effective gross income
Capital expenditures: 10% of effective gross income
Acquisition price: $3,420,000

a. 0.81%
b. 1.01%
c. 13.50%
d. 15.79%
e. 12.08%

Answers

Answer 1

Answer:

The correct option is b. 1.01%.

Explanation:

This can be calculated as follows:

Potential gross income = Number of apartment units * Monthly rent per unit = 15 * $3,000 = $45,000

Therefore, we have:

Details                                                                              Amount ($)

Potential gross income (PGI)                                              45,000

Vacancy and collection loss (10% of PGI)                          (4,500)

Effective gross income (EGI)                                              40,500

Operating expenses: 5% of effective gross income        (2,025)

Capital expenditures (10% of effective gross income)      (4,050)  

Net operating income                                                        34,425

Acquisition price = 3,420,000

Going-in capitalization rate = Net operating income / Acquisition price = $34,425 / $3,420,000 = 0.0101, or 1.01%

Therefore, the correct option is b. 1.01%.


Related Questions

Alex is an avid ornithologist and bird-watcher. He received a tweet from a colleague that the "pink-tufted warbler," a rare and exotic bird, was sighted only ten miles away from his workplace in a remote area. Disregarding the signs indicating "Private Road" and "Private Property", Alex drives to the site.

Answers

Answer:

trespass to land

Explanation:

Grey Corp owns 100% of Blue Company. On January 1, 2017 Grey sold Blue a machine for $66,000. Immediately prior to the sale, the machine was recorded on Grey's books at a net book value of $25,000. Prior to the sale, Grey was depreciating the machine on a straight-line basis with 9 years of remaining life and no salvage value. Blue plans to adopt the same depreciation assumptions as Grey. What elimination adjustments with respect to this sale must be made to consolidated net income in 2018 (ignoring income tax effects)

Answers

Answer:

Journal 1 - Eliminate gain on sale :

Debit : Other Income  ($66,000 - $25,000)  $41,000

Credit : Machinery  $41,000

Journal 2 - Eliminate the unrealized profit from the sale :

Debit : Accumulated depreciation  $4,556

Credit : Depreciation $4,556

Explanation:

Grey Corp and Blue Company are in a group of Companies. Grey Corp is the Parent and should prepare Consolidated Financial Statements . Blue Company is a subsidiary (Grey owns more that 50 % of voting rights in Blue Company).

When preparing Consolidated Financial Statements, intragroup transaction must be eliminated. As they happen, a Company trades within its-self that is the reason they should be eliminated.

Concerning the sale of machine by Grey (Parent) to Blue (Subsidiary), we must first eliminate the Income (gain on sale) in Parent as well as the asset that sits in the Subsidiary.

Debit : Other Income  ($66,000 - $25,000)  $41,000

Credit : Machinery  $41,000

Also, we have to eliminate the unrealized profit on the  gain of the asset sold.

Debit : Accumulated depreciation  $4,556

Credit : Depreciation $4,556

Deprecation calculation :

Deprecation = $41,000 ÷ 9 = $4,556

Interpersonal communication skills are necessary because they allow people _ and weigh the pros and cons of alternatives before coming up with the final solution.



to discuss problems


to make agreement between co-workers easier


to delegate work responsibilities


to resolve legal issues in the company before they hit the media

Answers

I think the correct answer would be discuss problems and the reason

North Pole Toys needs to decide on their newest product line for Christmas. They narrowed their options to two possibilities: Product A would incur a fixed cost of $3,000 and a variable cost of $6 per unit and sells for $7.50; Product B would incur a fixed cost of $1,200 and a variable cost of $9 per unit and sells for $10.
A. What is the break-even point for each of the two products?
B. What is the point of indifference between the two products?

Answers

Answer:

A-1. Product A break-even point = 2,000 units

A.2. Product A break-even point = 1,200 units

B. Point of indifference between the two products = 600 units

Explanation:

A. What is the break-even point for each of the two products?

Break-even point which is the point at which the total cost of production of a product is equal to the total revenue of the product can be calculated using the following formula:

Break-even point = Fixed cost / (Selling price per unit - Variable cost per unit) ........ (1)

Using equation (1), we have:

A-1. Product A break-even point = $3,000 / ($7.50 - $6) = 2,000 units

A.2. Product A break-even point = $1,200 / ($10 - $9) = 1,200 units

B. What is the point of indifference between the two products?

Point of indifference between the two products which is the point at which the total costs of the two products are the same can be calculated as follows:

Differential fixed cost = Product A fixed cost - Product B fixed cost = $3,000 - $1,200 = $1,800

Differential variable cost per unit = Product B fixed cost variable cost per unit - Product A variable cost per unit = $9 - $6 = $3

Point of indifference between the two products = Differential fixed cost / Differential variable cost per unit = $1,800 / $3 = 600 units

Note: To obtain any of the two differentials, the lower must be deducted from the higher as done above.

Mervon Company has two operating departments: Mixing and Bottling. Mixing has 330 employees and Bottling has 220 employees. Indirect factory costs include administrative costs of $192,000. Administrative costs are allocated to operating departments based on the number of workers. Determine the administrative costs allocated to each operating department.

Answers

Answer:

Mixing= $115,199.7

Bottling= $76,799.8

Explanation:

First, we need to calculate the allocation rate for Administrative costs:

Allocation rate= total estimated costs for the period/ total amount of allocation base

Allocation rate= 192,000 / (330 + 220)

Allocation rate= $349.09 per employee

Now, we can allocate costs:

Mixing= 330*349.09= $115,199.7

Bottling= 220*349.09= $76,799.8

Why is compound interest preferable to simple interest?
Compound interest pays at least double the interest on the principal
Compound interest is paid by the week or by the month, not only on
O Compound interest is based on the entire principal, not just a percer
O Compound interest pays interest on the principal and the interest ea

Answers

Answer:

Compound Interest, when it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate. Compound interest comes into play when you're calculating the annual percentage yield.

Explanation:

I hope this helped a lot bro. Hope you make a 100 on your test or quiz. Can I get brainiest.

Answer:

D.) Compound interest pays interest both on the principal and the interest earned in each period.

Explanation:

On Edg

Use the chart to answer the questions. Year Potential GDP Real GDP 2017 $18.17 trillion $18.05 trillion 2018 $18.51 trillion $18.56 trillion Be sure to put your answer in percentage form, and round answers to two decimal places. a. Calculate the output gap for 2017. % b. Calculate the output gap for 2018. % c. From 2017 to 2018, the output gap became more .

Answers

Answer:

a. Output gap for 2017 = –0.66%

b. Output gap for 2018 = 0.27%

c. From 2017 to 2018, the output gap became more positive.

Explanation:

The following are given in the question:

Year             Potential GDP                Real GDP

2017               $18.17 trillion               $18.05 trillion

2018               $18.51 trillion              $18.56 trillion

To calculate output gap in percentage form, the following formula is used:

Output gap = ((Real GDP -  Potential GDP) / Potential GDP) * 100 ......... (1)

Therefore, we have:

a. Calculate the output gap for 2017. %

Using equation (1), we have:

Output gap for 2017 = ((18.05 - 18.17) / 18.17) * 100 = –0.66%

b. Calculate the output gap for 2018. %

Using equation (1), we have:

Output gap for 2018 = ((18.56 - 18.51) / 18.51) * 100 = 0.27%

c. From 2017 to 2018, the output gap became more .

Since the output gap in 2017 is negative while the output gap in 2018 is positive; this implies that from 2017 to 2018, the output gap became more positive.

In 2020, Bertha Jarow had a $28,000 loss from the sale of a personal residence. She also purchased from an individual inventor for $7,000 (and resold in two months for $18,000) a patent on a rubber bonding process. The patent had not yet been reduced to practice. Bertha purchased the patent as an investment. In addition, she had the following capital gains and losses from stock transactions:

Long-term capital loss ($6,000)
Long-term capital loss carryover from 2019 (12,000)
Short-term capital gain 21,000
Short-term capital loss (7,000)

Required:
What is Bertha's net capital gain or loss?

Answers

Answer:

Bertha has a net long-term capital loss of $ 7,000. Bertha has a net short-term capital gain of $ 14,000 As a result, Bertha has an overall net short-term capital gain of $ 7,000.

Explanation:

Bertha Jarrow had a $28,000 loss from the sale of a personal residence. She also purchased from an individual inventor for $7,000 (and resold in two months for $18,000) a patent on a rubber bonding process. The patent had not yet been reduced to practice. Bertha purchased the patent as an investment. In addition, she had the following capital gains and losses from stock transactions: Long-term capital loss carryover from 2018 ($6,000) (12,000) 21,000 (7,000) Short-term capital gain Short-term capital loss a. What is Bertha's net capital gain or loss? Bertha has a net long-term capital loss of $ 7,000. Bertha has a net short-term capital gain of $ 14,000 As a result, Bertha has an overall net short-term capital gain of $ 7,000.

b. Complete the letter to Bertha, explaining the tax treatment of the sale of her personal residence. Assume Bertha's income from other sources puts her in the 24% bracket. Nellen, Young, Raabe, & Maloney, CPAs 5191 Natorp Boulevard Mason, OH 45040 March 17, 2020, Ms. Bertha Jarow 120 West Street Ashland, OR 97520 Dear Ms. Jarow: This letter is in response to your request for an explanation of the tax treatment of the sale of your residence. As you know, the residence was sold for less than your cost. Thus, you had a $ loss on the residence sale. Because the home was a personal use asset, tax law does not allow that loss to be deducted on your tax return. Thank you for the opportunity to be of service. Please telephone me if you have additional questions.

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 350 Revenue ($390.00q) $ 136,500 Expenses: Wages and salaries ($11,100 + $120.00q) 53,100 Supplies ($5.00q) 1,750 Equipment rental ($2,500 + $25.00q) 11,250 Insurance ($4,100) 4,100 Miscellaneous ($520 + $1.42q) 1,017 Total expense 71,217 Net operating income $ 65,283 During May, the company’s actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)

Answers

Answer:

Puget Sound Divers

Puget Sound Divers Planning and Flexible Budgets

For the Month Ended May 31

                                          Planning      Flexible

                                           Budget       Budget

Budgeted diving-hours (q)    350              340

Revenue ($390.00q)     $ 136,500   $132,600

Expenses:

Wages and salaries            53,100        51,900

Supplies ($5.00q)                 1,750           1,700

Equipment rental                11,250         11,000

Insurance ($4,100)               4,100           4,100

Miscellaneous                      1,017           1,003

Total expense                    71,217        69,703

Net operating income $ 65,283     $ 62,897

Explanation:

a) Data and Calculations:

Puget Sound Divers Planning Budget

For the Month Ended May 31

Budgeted diving-hours (q) 350

Revenue ($390.00q)                            $ 136,500

Expenses:

Wages and salaries ($11,100 + $120.00q) 53,100

Supplies ($5.00q)                                         1,750

Equipment rental ($2,500 + $25.00q)      11,250

Insurance ($4,100)                                       4,100

Miscellaneous ($520 + $1.42q)                   1,017

Total expense                                            71,217

Net operating income                         $ 65,283

Flexing the budget with actual activity of 340:

Revenue ($390.00q) $ 136,500/350 * 340 = $132,600

Expenses:

Wages and salaries ($11,100 + $120.00 * 340) = $51,900

Supplies ($5.00q)                                         1,750/350 * 340 = $1,700

Equipment rental ($2,500 + $25.00 * 340 = $11,000

Miscellaneous ($520 + $1.42 * 340 = $1,003

The trial balance for Splish Brothers Inc. appears as follows: Splish Brothers Inc. Trial Balance December 31, 2022 Cash $340 Accounts Receivable 595 Prepaid Insurance 93 Supplies 205 Equipment 4560 Accumulated Depreciation, Equipment $680 Accounts Payable 438 Common Stock 1370 Retained Earnings 1600 Service Revenue 3415 Salaries and Wages Expense 1140 Rent Expense 570 $7503 $7503 If as of December 31, 2022, rent of $171 for December had not been recorded or paid, the adjusting entry would include a: debit to Rent Expense for $171 debit to Rent Payable for $171 credit to Cash for $171. credit to Accumulated Rent for $171.

Answers

Answer:

debit to Rent Expense for $171

Explanation:

The adjusting entry would be

Rent Expense  $171

          To Rent expenses payable $171

(Being Rent expense accounted is recorded)

Here the rent expense is debited as it increased the assets and credited the rent expense payable as it also increased the liabilities

Therefore the a option is correct

ANd, the rest of the options would be wrong

Stockholders of Hudson Enterprises recently received an annual dividend of $2.50 per share. Three analysts are trying to determine the value of this stock based on expected future dividends. Each analyst uses a required return of 14%. Use appropriate dividend valuation models to find the value of Hudson stock under each of the following sets of assumptions:

a. Analyst A assumes dividends will remain constant at $2.50 for the indefinite future. Show D0, D1, r, g and Analyst A's price.
b. Analyst B assumes dividends will grow at a constant rate of 7% per year for the indefinite future. Show D0, D1, r, g and Analyst B's price.
c. Analyst C assumes dividends will grow at 14% for the next 2 years and will thereafter grow at a constant rate of 7% for the indefinite future. Show D0, D1, D2, D3, r, g and Analyst C's price.
d. Analyst D uses the market multiple approach to value a company's stock. Hudson has had an average P/E of 15 and an average P/S of 2 over the last few years. Earnings per share of $3 and sales per share of $20 are forecast for next year. What is Analyst D's price based on earnings? Based on Sales?

Answers

honestly bro, just drop out

Harley-Davidson motorcycle owners, who pay a price premium for their motorbikes, have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. Based on these factors, these owners are deriving which types of value from the Harley-Davidson brand

Answers

Answer:

Experiential and social value

Explanation:

From the question we are informed about Harley-Davidson motorcycle owners, who pay a price premium for their motorbikes, and have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. In this case, Based on these factors, these owners are deriving Experiential and social value

from the Harley-Davidson brand.

Experiential value can be regarded as values that comes from perception of the customers that comes directly or indirectly from him/ her as a result of his/ her experience about the product/service. Social value on the other hand can be regarded as quantification of relative importance that is been placed by people on changes that comes their way or experience in their daily lives.

Harlen Company is involved in a competitive bidding situation. The following costs are anticipated for a project to be bid with the City of Crimson:
Direct material $340,000
Direct labor 610,000
Allocated variable overhead 420,000
Allocated fixed cost 110,000
Which of the following cost figures should be used in setting a minimum bid price if Harlen has excess capacity?
A. $530,000.
B. $950,000.
C. $1,370,000.
D. $1,480,000.
E. None of the answers is correct.

Answers

Answer:

C. $1,370,000

Explanation:

Calculation to determine the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity

Direct material $340,000

Direct labor $610,000

Allocated variable overhead $420,000

Minimum bid price $1,370,000

($340,000+$610,000+$420,000)

Therefore the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity is $1,370,000

Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 20 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $7 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2022.

Answers

Answer:

See below

Explanation:

1. Total compensation pertaining to the restricted shares

= Fair value per share × Shares granted

= $7 × 20,000,000

= $140,000,000

Therefore, the total compensation cost pertaining to the restricted shares is $140,000,000

2. Journal entries as at December 31, 2021 (in million dollars)

Dr Compensation expense ($140,000,000 ÷ 2 years) $70

Cr Paid- in capital - restricted stock $70

Journal entries as at December 31, 2022 (in million dollars)

Dr Compensation expense ($140,000,000 ÷ 2 years) $70

Cr Paid in capital - restricted stock $70

Dr Paid in capital restricted stock $140

Cr Common stock (20 million shares × $1 par) $20

Cr Paid in capital in excess of par (remainder) $120

Cost behavior for variable overhead is more difficult to predict than the behavior of direct materials or direct labor cost for all the following reasons except: A. Multiple cost drivers are involved with variable overhead. B. Direct material and direct labor contain no semi-variable component. C. The variable portion of overhead must first be separated from the fixed portion. D. Variable overhead is a relatively small part of total overhead.

Answers

Answer:

D. Variable overhead is a relatively small part of total overhead.

Explanation:

The variable overhead of the cost behavior would become more difficult for estimation as compared with the behavior of direct materials or direct labor for all the given reasons but it should not be valid for the variable overhead that contains small part of the total overhead

Therefore according to the given situation, the option D is correct

Trew Company plans to issue bonds with a face value of $909,000 and a coupon rate of 6 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds are sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar.)
Determine the issuance price of the bonds assuming an annual market rate of interest of 8.5 percent.
Issuance price

Answers

Answer:

$757,943

Explanation:

face value = $909,000

maturity = 10 years x 2 = 20 periods

coupon rate = 6% / 2 = 3%

coupon = $27,270

YTM = 8.5% / 2 = 4.25%

using a financial calculator, the PV of the bonds = $757,943

Dr Cash 757,943

Dr Discount on bonds payable 151,057

    Cr Bonds payable 909,000

You are called by Tim Duncan of Spurs Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available.
Inventory, July 1 $41,010
Purchases-goods placed in stock July 1-15 90,490
Sales revenue-goods delivered to customers (gross) $119,400
Sales returns-goods returned to stock $3,960
Your client reports that the goods on hand on July 16 cost $33,210, but you determine that this figure includes goods of $7,170 received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncan's insurance covers only goods owned.
Compute the claim against the insurance company.

Answers

Answer:

$23,003

Explanation:

Computation for the claim against the insurance company.

Using this formula

Claim against insurance company = Total cost of goods available for sales - Cost of goods sold - Owned inventory on hand on July 16

Let plug in the formula

Claim against insurance company= ($41,010 + 90,490) - [($119,400 - $3,960)*100/140)] - ($33,210- $7,170)

Claim against insurance company= $131,500 - $82,457 - $26,040

Claim against insurance company= $23,003

Therefore the claim against the insurance company is $23,003

A loan of $400,000 is taken out which requires an annual interest payment of 4.4% of the borrowed amount of money (in market dollars). No principal payments are made, only interest is paid. Inflation is 3.8% per year. What will be the value of interest payment at the end of fourth year in real dollars?

Answers

Answer:

payment in real dollars 4 years later = $15,160.84

Explanation:

in current dollars, the interest payment = $400,000 x 4.4% = $17,600

if the inflation rate is 3.8% annual, the value of real dollars will increase by (1 + 3.8%)⁴ - 1 = 1.1609 - 1 = 16.09%

this means that we need to discount the nominal payment by $16.09%;

payment in real dollars 4 years later = $17,600 / (1 + 16.09%) = $15,160.84

Vaughn Company manufactures equipment. Vaughn’s products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Vaughn has the following arrangement with Winkerbean Inc.
Winkerbean purchases equipment from Vaughn for a price of $920,000 and contracts with Vaughn to install the equipment. Vaughn charges the same price for the equipment irrespective of whether it does the installation or not. The cost of the equipment is $644,000.
Winkerbean is obligated to pay Vaughn the $920,000 upon the delivery and installation of the equipment. Vaughn delivers the equipment on June 1, 2020, and completes the installation of the equipment on September 30, 2020. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations which should be accounted for separately.
Assuming Vaughn does not have market data with which to determine the standalone selling price of the installation services. As a result, an expected cost plus margin approach is used. The cost of installation is $35,700; Vaughn prices these services with a 30% margin relative to cost.
How should the transaction price of $920,000 be allocated among the service obligations?
Equipment $
Installation $

Answers

Answer: See explanation

Explanation:

The transaction price of $920,000 should be allocated among the service obligations as thus:

For Equipment:

= Fair value of equipment / Total fair value × Transaction price

= (920000 / (920000 + 276000) × 920000

= (920000 / 1196000) × 920000

= $707692

Installation:

= Fair value of installation / Total fair value × Transaction price

= 276000 / (920000 + 276000) × 920000

= (276000 / 1196000) × 920000

= $212308

Bella Donna Company has 100,000 shares of $2 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for $8 per share. On February 3, 2018, Bella Donna repurchased 3,590 shares at $6 per share for the purposes of retiring them. What will be the balance in Paid in capital in excess of par after February 3rd transaction?

Answers

Answer:

$585,640

Explanation:

Paid in capital in excess of on January 1 , 2018

= 100,000 × ($8 - $2)

= $100,000 × $6

= $600,000

Paid in capital in excess of par on repurchased share for retiring

= 3,590 × ($6 - $2)

= 3,590 × $4

= $14,360

Therefore,

Balance in paid in capital in excess of par after February 3rd transaction

= $600,000 - $14,360

= $585,640

In the history of product liability, the rights of produces and consumers have

a.
favored producers.

b.
favored consumers.

c.
remained nuetral.

d.
None of the above

Answers

Answer:

a

Explanation:

Peter and Lois are planning to open a restaurant that will feature Lois's world-renowned meatloaf. Everyone who has tasted Lois's meatloaf has ranted and raved that it is the most delectable meal they have ever had. Luckily for Peter and Lois, the meatloaf is made using a secret recipe that no one else in the whole world knows about. The only detail of the plan that troubles them is that neither of them knows anything about running a business. In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _____ and the couple's ignorance about running a business is a _____ in their situation analysis.

Answers

Answer:

Peter and Lois Restaurant

In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _strength____ and the couple's ignorance about running a business is a __weakness___ in their situation analysis.

Explanation:

SWOT means Strengths, Weaknesses, Opportunities, and Threats.  Strengths and Weaknesses refer to internal capabilities or resources that are available or lacking.  Opportunities and Threats refer to external returns and risks that can elevate or threaten the achievement of business goals.

PLEASE HELP
Question 6 of 20

Lisa decided to take a walk one Sunday afternoon. During her walk a
neighbor's dog broke away from the leash and attacked Lisa. For months
after the attack, Lisa would not go out of her house because she was so
shaken. Why would Lisa most likely be awarded aggravated damages?
A. Because there were witness to the attack who could prove the
attack was intentional
B. Because the neighbor intentionally let the dog loose to attack her
C. Because she was injured by the dog and had a lot of medical bills
to pay
D. Because the attack traumatized her so much that should couldn't
leave the house

Answers

Answer:

D. because (context clues)(process of illumination) let go back to "5th grade" ... first of all there was no witnesses mentioned in the scenario second were do they come off talking about a bill nothing was mentioned about a bill thirdly they said the dog 'broke Loose' so if it was intentional them he would have been at her door step. so that's why its D. and plus she was "traumatize" so that leads into fear and fear leads into staying away. and to be honest shes a idiot for not addressing the situation around the same month, if she was so traumatize by what happened.

Answer:

D. Because the attack traumatized her so much that should couldn't

leave the houseExplanation:

Krepps Corporation produces a single product. Last year, Krepps manufactured 20,000 units and sold 15,000 units. Production costs for the year were as follows: Direct materials $170,000 Direct labor $110,000 Variable manufacturing overhead $200,000 Fixed manufacturing overhead $240,000 Sales totaled $825,000 for the year, variable selling and administrative expenses totaled $108,000, and fixed selling and administrative expenses totaled $165,000. There was no beginning inventory. Assume that direct labor is a variable cost. Under variable costing, the company's net operating income for the year would be:

Answers

Answer:

Under variable costing, the company's net operating income for the year would be $60,000 lower than under absorption costing.

Explanation:

The computation of the operating income under variable costing is shown below:

But before that following calculations need to be done

Fixed manufacturing overhead per unit is

= $240,000 ÷ 20,000 units

= $12 per unit

Ending Inventory units is

= 20,000 units - 15,000 units

= 5,000 units

Now Cost of ending Inventory deferred under absorption costing is

= 5,000 units × $12

= $60,000

So, the second option is correct

Exercise 13-06 a-b Here are the comparative income statements of Sarasota Corp.. SARASOTA CORP. Comparative Income Statement For the Years Ended December 31 2020 2019 Net sales $588,000 $490,000 Cost of goods sold 449,820 402,780 Gross Profit 138,180 87,220 Operating expenses 85,260 46,550 Net income $ 52,920 $ 40,670 (a) Prepare a horizontal analysis of the income statement data for Sarasota Corp., using 2019 as a base

Answers

Answer:

Horizontal Analysis of the Income Statement

For the Year Ended December 31, 2020:

                                                        Percentage

                                                          Increase

Net sales                   $588,000         20%

Cost of goods sold     449,820         11.68%

Gross Profit                   138,180         58.43%

Operating expenses    85,260         83.16%

Net income               $ 52,920         30.12%

Explanation:

a) Data and Calculations:

SARASOTA CORP.

Comparative Income Statement

For the Years Ended December 31  

                                        2020                  2019             Increase

Net sales                   $588,000             $490,000       $98,000

Cost of goods sold     449,820                402,780          47,040

Gross Profit                   138,180                  87,220         50,960

Operating expenses    85,260                  46,550          38,710

Net income               $ 52,920               $ 40,670          12,250

Net Sales increase = $98,000/$490,000 * 100 = 20%

Cost of goods sold = $47,040/$402,780 * 100 = 11.68%

Gross profit = $50,960/$87,220 * 100 = 58.43%

Operating expenses = $38,710/$46,550 * 100 = 83.16%

Net Income = $12,250/$40,670 * 100 = 30.12%

b) Horizontal Analysis (%) = [(Amount in 2020 – Amount in 2019) / Amount in 2019] * 100.  The analysis records the growth trend between the elements of the base year and the comparison year.

At December 31, 2021 and 2020, P Co. had 58,000 shares of common stock and 5,800 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $620,000. For 2021, basic earnings per common share amounted to: (Round your answer to 2 decimal places.)

Answers

Answer:

$10.19 per share

Explanation:

With regards to the above, the basic earnings per common share is seen below;

Preferred dividend = Shares × Par value × Shares percentage

= 5,800 × $100 × 5%

= $29,000

So, basic earning per share = (Net income - Preferred dividend) ÷ Common shares

= ($620,000 - $29,000) ÷ 58,000

= $10.19 per share

Therefore, for 2021, basic earnings per common share amounted to $10.19

Selling Something People Could Get for FREE". Is it possible? Comment with example.

Answers

Answer:

yes its possible. You could sell dirt

Finances and lack of money are the main reasons that all businesses fail. Suppose your roommate, a Spanish major, tells you they have just inherited the family business from their grandparents. They know you are a business student who is studying entrepreneurship. Describe and explain in 4 separate sentences how the following 4 financial analysis tools can help the small business owner avoid going out of business due to lack of money.
1. Income statement - what is it and what information does it provide to the business owner?
2. Balance sheet - what is it and what information does it provide to the business owner?
3. Statement of cash flows - what is it and what information does it provide to the business owner?
4. Ratio analysis - what is it and what information does it provide to the business owner?

Answers

Answer:

See the explanation below.

Explanation:

1. Income statement - what is it and what information does it provide to the business owner?

An income statement can be described as a financial statement that provides information about how profitable a business was during a particular reporting period.

An income statement provides to the business owner information about revenue, expenses, income and losses of his/her business.

2. Balance sheet - what is it and what information does it provide to the business owner?

A balance sheet can be described as a financial statement shows the level of financial position of a company at a specific point in time.

A balance sheet provides to the business owner information about assets, liabilities and owner's equity of his/her business at a specific point in time.

3. Statement of cash flows - what is it and what information does it provide to the business owner?

A statement of cash flows can be described as a financial statement that provides the summary of how much cash and cash equivalents enter and leave a business.

A statement of cash flows provides to the business owner information about cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities of his/her business.

4. Ratio analysis - what is it and what information does it provide to the business owner?

A ratio analysis or financial ratio analysis can be described as a relative magnitude of two numerical values that selected the financial statements of a business.

A ratio analysis provides to the business owner information that enables him to gain insight into the liquidity, operational efficiency, and profitability of his/her business.

On December 15, 2021, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2022, and December 15, 2023. Ignore interest charges. Rigsby has a December 31 year-end. In 2022, Rigsby would recognize realized gross profit of:

Answers

Answer:

I have the same gesture

Explanation:

idek

Symington Corporation uses the periodic inventory system. At December 31, 20X1, the end of the company's fiscal year, a physical count of inventory revealed an ending inventory balance of $320,000. The following items were not included in the physical count: Goods held on consignment at Murphy Corporation $ 23,000 Merchandise shipped to a customer on 12/30/20X1 f.o.b. destination (merchandise arrived at customer's location on 1/3/20X2) 12,000 Merchandise shipped to a customer on 12/29/20X1 f.o.b. shipping point (merchandise arrived at customer's location on 1/2/20X2) 6,000 Merchandise purchased from a supplier, shipped f.o.b. destination on 12/29/20X1, in transit at year-end 24,000
Symington's 2018 ending inventory should be:________

Answers

Answer:

See below

Explanation:

With regards to the above information, Symington's 2018 ending inventory would be computed as seen below;

= Ending inventory balance at December 31, 20X1 + Goods held on consignment at Murphy corporation + Merchandize shipped to customer on 12/30 and arrived at customer' location on 1/3/2017

= $320,000 + $23,000 + $12,000

= $355,000

Therefore, Symington's 2018 ending balance should be $355,000.

Note that other given information are not relevant to the computation of the ending inventory.

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