Marigold Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $192000 loss in the year of disposal. The loss on disposal of the segment was $99000. If the tax rate is 30%, and income before income taxes was $1630000.

a. the income tax expense on the income before discontinued operations is $378300.
b. the income from continuing operations is $1141000.
c. net income is $1339000.
d. the losses from discontinued operations are reported net of income taxes at $291000.

Answers

Answer 1

Answer:

The correct option is b. The income from continuing operations is $1141000.

Explanation:

Based on the information given we were told that the tax rate is 30% while the income before income taxes was $1,630,000 which means that the The income from continuing operations is $1141000 calculated as:

Income from continuing operations=[$1,630,000-(30%*$1,630,000)]

Income from continuing operations=$1,630,000-$489,000

Income from continuing operations=$1,141,000


Related Questions

The readings suggest there are certain strategies for pricing new products, which is decidedly more difficult than adjusting prices to existing products. The new product pricing approaches are:SkimmingPenetrationEveryday low pricesThe pricing approaches discussed for existing products are:Cost plusMarkupMarkdownOdd-even pricingPrestige pricingPrice liningDemand backward pricingLeader pricingSealed bid pricingGoing-rate pricingPrice bundlingCaptive pricingProduct mix pricingTwo-part pricingPromotional pricingThere is no shortage of pricing approaches, and as customers, we are exposed to all of them at some time or another in our purchasing processes.Choose one of the pricing approaches and discuss the product, the pricing approach, and why you think it is the most appropriate approach for that particular product given your consumer characteristics. Be sure you understand the definition of your approach before tackling this topic.Many of you will be tempted to use promotional pricing since it is the easiest to demonstrate. So promotional pricing is not "for sale" (pun intended). Pick one of the other approaches for this topic.

Answers

Explanation:

Penetration Pricing:

It is the marketing approach that consists of a strategy to insert a new product in the market offering lower prices.

This strategy would help a new company, for example, to enter the market and already achieve good demand for its products and services, in addition to this strategy being a barrier of entry for new competitors.

Penetration pricing is the most appropriate marketing strategy for companies that need to reach a market place and reach a large number of people, which is achieved when offering a product with quality and benefits that can create consumer needs for customers, which makes it possible for the company to fulfill its objective and then be able to establish itself in the market and then increase prices so that the demand for the products is maintained.

This strategy is generally used by retailers and organizations that offer products offered in bulk, such as food, cosmetics, automobiles, etc.

what's your favorite holiday and why?

Answers

Answer:

Summer holiday

no coldness

beach time

camping

travel

Answer: Christmas

Explanation:

I think this holiday in particular brings everyone together. Huge festivities are all around and about as well.

what is the difference between accrual and realization concept in accounting​

Answers

Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel

Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization

Vaughn Manufacturing has a weighted-average unit contribution margin of $30 for its two products, Standard and Supreme. Expected sales for Vaughn are 60000 Standard and 40000 Supreme. Fixed expenses are $1500000. How many Standards would Vaughn sell at the break-even point?

Answers

Answer:

30,000 units

Explanation:

The computation of the break even point is shown below:

But before that we need to do the following calculations

Standard product sales mix % is

= 60,000  ÷ (60,000 + 40,000)

= 60,000 ÷ 100,000

= 60%

Total Break even in units is

= $1,500,000 ÷ $30

= 50,000

Now

Break even units for Standard product is

= 50000 x 60%

= 30,000 units

Question 9 of 10
How should an annual business license fee be recorded in a journal entry?
A. As a credit, because it is an increased liability
B. As a credit, because it creates equity
C. As a debit, because it is an increased expense
D. As a debit, because it is a loss
SNBMIT

Answers

Answer:

Explanation:

As a debit, because it is an increased expence

Bren Co.'s beginning inventory at January 1, 2005 was understated by $26,000, and its ending inventory was overstated by $52,000. As a result, Bren's cost of goods sold for 2005 was:

Answers

Answer:

Change in COGS= $78,000 increase

Explanation:

We know that to calculate the cost of goods sold, we use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

If the beginning inventory is understated, it will increase the value of COGS.

If the ending inventory is overstated, the COGS  increase.

Change in COGS= 26,000 + 52,000

Change in COGS= $78,000 increase

The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic inventory system.
Jan. 2 Purchased $18,200 of merchandise on account, FOB shipping point, terms 2/15, n/30.
5 Paid freight of $190 on the January 2 purchase.
6 Returned $2,750 of the merchandise purchased on January 2.
13 Sold merchandise on account, $37,300, FOB destination, 1/10, n/30. The cost of goods sold was $22,400.
15 Paid freight of $215 for the merchandise sold on January 13.
17 Paid for the purchase of January 2 less the return and discount.
23 Received payment on account for the sale of January 13 less the discount.
Journalize the entries to record the transactions of Air Systems Company.

Answers

Answer:

Date      Account Titles and Explanation         Debit      Credit

2-Jan     Purchase                                            $18,200

                    Accounts payable                                          $18,200

5-Jan     Freight In                                             $190

                     Cash                                                                $190

6-Jan     Accounts payable                               $2,750

                     Purchased return and allowance             $2,750

13-Jan   Account receivable                            $37,300

                   Sales                                                                $37,300

             Cost of goods sold                              $22,400

                    Merchandise Inventory                                   $22,400

15-Jan    Delivery expenses                               $215

                     Cash                                                               $215

17-Jan     Account payable                                $15,450

                      Purchase discount                                       $309

                       Cash                                                             $15,141

23-Jan    Cash                                                     $36,927

               Sales discount                                     $373

                     Account receivables                                     $37,300

The amount of cash received = $37,300 - {$37,300*1%} = 36,927

The amount of sale discount  = $37,300 - $ 36,927 = $373

can someone plz help me with this idk what to do for it

Answers

Answer: its a baby. 2 hours

Explanation:

love u

Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor.Country Rye Jeans(Bushels per hour of labor)(Pairs per hour of labor)Euphoria 5 20Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Euphoria uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Euphoria produces 15 million bushels of rye and 20 million pairs of jeans, and Contente produces 8 million bushels of rye and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans it produces.Euphoria's opportunity cost of producing 1 bushel of rye is ________ of jeans, and Contente's opportunity cost of producing 1 bushel of rye is ____________ of jeans. Therefore, __________ has a comparative advantage in the production of rye, and___________ has a comparative advantage in the production of jeans.Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces rye will produce ________million bushels per week, and the country that produces jeans will produce_________million pairs per week.

Answers

Explanation:

here is an explanation and solution to your question

For Euphoria:

The opportunity cost of producing a unit of rye in terms of jeans =20/5 = 4

for contente:

The opportunity cost of producing a unit of rye in terms of jeans = 16/8 = 2

opportunity cost of producing 1 unit of jean in terms of unit of rye:

for euphoria = 5/20 = 1/4

for contente = 8/16 = 1/2

1.

Euphoria's opportunity cost of producing a a bushel of rye is 4 pairs of jeans.

contentes opportunity cost of producing a bushel of rye is 2 pairs of jeans.

2.

contente has comparative advantage in producing rye

euphoria has comparative advantage in jeans production

3

contente produces 8 bushels of rye so with 4 million hours of labor = 8x4 = 32 million bushels in a week.

euphoria 20 pairs of jean in a week, using 4 million hours of labor. 20x4 = 80 pairs of jean a week

Alto Corporation sold two capital assets this year. The first sale resulted in a $13,000 capital gain, and the second sale resulted in a $41,000 capital loss. Alto was incorporated five years ago. Four years ago, Alto recognized $5,000 of net capital gain. Three years ago, Alto recognized $10,000 of net capital gain. Two years ago and last year, Alto recognized no net capital gains.

Required:
Using a 21 percent tax rate, compute Alto's tax refund from the carryback of its current year capital loss. Compute Alto's capital loss carryforward into next year.

Answers

Answer:

A. Tax refund $2,100

B. $18,000

Explanation:

A. Calculation for Alto's tax refund from the carryback of its current year capital loss

Based on the information given we were told that Alto has the amount of $28,000 ( 13,000-41,000) as a net capital loss that is non deductible this year which means Alto can

carry the loss back 3 years in order for Alto to deduct against net capital gain in those 3years.

Secondly Alto can as well remove the amount of $10,000 capital loss that was carryback against capital gain 3 years ago in order to have the amount of $2,100 as tax refund which is calculated as ($10,000 × 21%)

B. Computation of Alto's capital loss carryforward into next year.

Alto’s capital loss carryforward = ($28,000 − $10,000).

Alto’s capital loss carryforward =$18,000

Therefore Alto’s capital loss carryforward will be $18,000

A parent transfers inventory with a cost of $25,000 to its subsidiary at a transfer price of $40,000. The subsidiary resold 50% of this transferred inventory to outsiders before year-end. For the current year consolidated financial statement, how much gross profit should be deferred by Consolidation Entry G

Answers

Answer: $7,500

Explanation:

The profit made from the transfer is;

= 40,000 - 25,000

= $15,000

The subsidiary however only managed to resell 50% of this. The Consolidated entry therefore will show that 50% of the inventory remains so profit will have to be deferred till it is sold. The amount deferred is;

= 15,000 * 50%

= $7,500

research how consumers might use dispute resolution to resolve conflicts with businesses.

Answers

Answer:

The two most popular types of dispute resolution are mediation and arbitration. In mediation, a neutral third party — a mediator — helps you and the other party try to resolve the problem through facilitated dialogue. However, it's up to you and the other party to reach an agreement.

Explanation:

Answer:

what I researched is that

Explanation:

Explanation.

Brown Company's bank statement for September 30 showed a cash balance of $1,350. The company's Cash account in its general ledger showed a $995 debit balance. The following information was also available as of September 30.
a. A $125 debit memoranda is included with the bank statement and dealt with a customer's check for $100 marked NSF and returned to Brown Company by the bank. In addition, the bank charged the company's a $25 processing fee.
b. The September 30 cash receipts, $1,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement.
c. A $15 debit memorandum for checks printed by the September 30 bank was included with the canceled checks.
d. Outstanding checks amounted to $1,145.
e. A customer's note for $900 was collected by the bank. A collection fee of $25 was deducted by the bank and the difference was deposited in the account.
f. Included with the canceled checks was a check for $275, drawn on another company, Browne Inc.

Answers

Omitted question.  Prepare  Bank reconciliation for Brown's company for September 30.

Answer:Please see explanation for answers.

Explanation:

Brown Company"s     Bank Reconciliation  for September 30

Cash Balance as per bank statement         $ 1,350

Add:    

Deposit in transit                                        +  $ 1,250  

Bank error in recording of check                 + $ 275  

                                                                             

Deduct:  

Outstanding checks                                  -  $ 1,145

Adjusted bank balance                             $ 1,730

Cash balance per books                             $995

Add: Electronic transfer collected by bank

(900-25)                                                        +$875

Deduct:

Bank service charges (25+15)                         - $40

NSF Check                                                       -$100  

Adjusted book balance                                 $ 1,730

This program consists of three lottery-funded scholarships for Florida high school graduates who demonstrate high academic achievement and enroll in eligible Florida public or private postsecondary institutions.

Financial Aid
Florida Pre-Paid College Plan
College Board
Bright Futures Scholarship

Answers

Answer: Bright Future Scholarship

Explanation:

since it’s for only Florida schools this can be the only answer.

Answer:

bright future

Explanation:

Took the test and got it right

Katie, a single taxpayer, is a shareholder in Engineers One, a civil engineering company. This year, Katie’s share of net business income from Engineers One is $200,000 (net of the associated for AGI self-employment tax deduction). Assume that Katie’s allocation of wages paid by Engineers One to its employees is $300,000 and her allocation of Engineers One’s qualified property is $150,000 (unadjusted basis of equipment, all purchased within past three years). Assume Katie has no other business income and no capital gains or qualified dividends. Her taxable income before the deduction for qualified business income is $400,000.
Required:
A. Calculate Katie’s deduction for qualified business income.
B. Assume the same facts provided above, except Katie’s net business income from Engineers One is $400,000 (net of the associated for AGI self-employment tax deduction), and her taxable income before the deduction for qualified business income is $350,000.

Answers

Answer:

A) Katie's maximum deduction is $200,000 x 20% = $40,000

But we must check that her deduction meets 3 requirements:

cannot exceed 50% of her earned wages = $300,000 x 50% = $150,000 ✓ requirement metcannot exceed 25% of her earned wages + 2.5% of qualified property = ($300,000 x 25%) + ($150,000 x 2.5%) = $78,750 ✓ requirement metcannot exceed 20% of taxable income = $400,000 x 20% = $80,000 ✓ requirement met

B) Katie's maximum deduction is $400,000 x 20% = $80,000, but since her net business income is higher than her taxable income, she must calculate 20% x $350,000 (taxable income) = $70,000 (same as requirement 3 in previous answer)

Suppose someone offered to sell you a note calling for payment of $1,225 15 months from today (456 days). They offer to sell it to you for $950. You have $950 in a bank time deposit which pays a 12% nominal rate with a daily (365 days a year) compounding, and you plan to leave the money in the bank unless you buy the note? Recommend action based on checking the decision in three ways:
(1) by comparing your future value if you buy the note versus leaving your money in the bank,
(2) by comparing the PV of the note with your current bank account, and
(3) by comparing the EAR on the note versus that of the bank account.

Answers

Answer:

(1) by comparing your future value if you buy the note versus leaving your money in the bank,

the future value of the note = $1,225

the future value of the time deposit = $950 x (1 + 0.12/365)⁴⁵⁶ = $1,103.62

the note has the highest future value

(2) by comparing the PV of the note with your current bank account, and

PV of note = $1,225 / (1 + 0.12/365)⁴⁵⁶ = $1,054.48 (I used the same interest rate than the time deposit)

present value of your time deposit = $950

the note has the highest present value

(3) by comparing the EAR on the note versus that of the bank account.

EAR of the note using the future value formula:

1,225 = 950 x (1 + r)¹°²⁵

(1 + r)¹°²⁵ = 1,225 / 950 = 1.2895

¹°²⁵√(1 + r)¹°²⁵ = ¹°²⁵√1.2895

1 + r = 1.2255

r = 0.2255 = 22.55%

EAR time deposit = (1 + 0.12/365)³⁶⁵ - 1 = 12.75%

the note's effective annual rate is higher

Dodie Company completed its first year of operations on December 31. All of the year's entries have been recorded except for the following: At year-end, employees earned wages of $4,000, which will be paid on the next payroll date in January of next year. At year-end, the company had earned interest revenue of $1,500. The cash will be collected March 1 of the next year.
Required: 2. Prepare the required adjusting entry for transactions (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answers

Answer:

A. Dr Wages expense 4,000

Cr Wages payable 4,000

B. Dr Interest receivable 1,500

Cr Interest revenue 1,500

Explanation:

Preparation of Journal entries

A. Based on the information given we were told that the company employees earned wages of the amount of $4,000, which will be paid on in January of next year which means that the Journal entry will be:

Dr Wages expense 4,000

Cr Wages payable 4,000

B. Based on the information given we were told that the company had earned the amount of $1,500 as interest revenue which means that the Journal entry will be recorded as:

Dr Interest receivable 1,500

Cr Interest revenue 1,500

Megan, a human resource manager, recently approved the hiring of five summer interns. She will use ________ to decide which departments would benefit from the interns’ employment. As production manager, part of Jennifer’s job is to determine what raw materials will be needed to meet production needs. Sales forecasts may help Jennifer with this ______ function of management. Wesley’s company just began offering online ordering for their products. Wesley uses _______ to delegate tasks to each department that is affected.
Choose the management function being performed in each of the examples.
Example of managerial work Planning Organizing Leading Controlling
A construction project manager from Iron Horse
Construction uses a team of experts to design the
development of a new property on the top of a
very steep ridge.
The team includes geotechnical consultants, erosion
control specialists, and contractors. Jessica Lee,
director of global employer brand and communications
at Marriott International, realizes the mobile app created
by a vendor does not integrate with the company's
existing software.
George Steinbrenner transferred his passion for winning
to everyone in the New York Yankees organization.
His famous quote is, "Winning is the most important thing
in my life, after breathing. Breathing first, winning next."
Taco Bell CEO, Brian Niccol, considers what the technical
and logistical needs would be in order to offer delivery to
customers.

Answers

Answer:

FIRST QUESTION:

Organizing

Planning

Organizing

SECOND QUESTION:

Explanation:

FIRST QUESTION

Megan, a human resource manager, recently approved the hiring of five summer interns. She will use ___Organizing ____ to decide which departments would benefit from the interns’ employment. As production manager, part of Jennifer’s job is to determine what raw materials will be needed to meet production needs. Sales forecasts may help Jennifer with this___ Planning __ function of management. Wesley’s company just began offering online ordering for their products. Wesley uses ____Organizing___ to delegate tasks to each department that is affected.

Management functions involves process, action taken by the management to achieve the goals of the organization effectively. They are:

Planning

Organizing

Controlling

and others

✓Organizing in management can described as dividing task between departments, work group . It involves human resources allocation within the organization.

✓Planning on management inolves steps, ways that are deviced to carried out actions in an organization in future time inorder to achieve the goals of the organization.

✓Controlling are ways management use to monitor the set goals of the organization, is a way to supervise the running of the organization from all departments and level of the organization to efficiency.

✓Leading involves setting example for the follower to follow, it's a way in which leader in organization influence the worker/employee to achieve the organizational goals.

SECOND QUESTION

1)A construction project manager from Iron Horse Construction uses a team of experts to design the development of a new property on the top of a very steep ridge. The team includes geotechnical consultants, erosion

control specialists, and contractors. ( EXAMPLE OF ORGANIZING)

2)Jessica Lee,

director of global employer brand and communications at Marriott International, realizes the mobile app created by a vendor does not integrate with the company's existing software.

."(EXAMPLE OF CONTROLLING)

3)George Steinbrenner transferred his passion for winning to everyone in the New York Yankees organization.

His famous quote is, "Winning is the most important thing in my life, after breathing. Breathing first, winning next(EXAMPLE OF LEADING)

4)Taco Bell CEO, Brian Niccol, considers what the technical

and logistical needs would be in order to offer delivery to customers.(EXAMPLE OF PLANNING)

The management functions that is performed in different examples are as follows :

1. Megan  -  organizing

2. As production manager, Jennifer  -  planning

3. Wesley’s company  -  organizing

4. A construction project manager  -  organizing

5. Jessica Lee  -  Controlling

6.  George Steinbrenner - Leading

7.  Taco Bell CEO   -    Planning

Management Functions

Management functions are defined as a set of functions or disciplines which is used to run an organization. It consists of : planning, leading, organizing, staffing and controlling.

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https://brainly.com/question/24567659

https://brainly.com/question/25697957

Newland Company reported retained earnings at December 31, 2019, of $310,000. Newland had 200,000 shares of common stock outstanding at the beginning of 2020. Determine retained earnings balance. The following transactions occurred during 2020.
1. An error was discovered. In 2015, depreciation expense was recorded at $70,000, but the correct amount was $50,000.
2. A cash dividend of $0.50 per share was declared and paid.
3. A 5% stock dividend was declared and distributed when the market price per share was $15 per share.
4. Net income was $285,000.
Prepare a retained earnings statement for 2020.

Answers

Answer:

Retained earnings = $345,000

Explanation:

Particulars                                                  Amount

Retained earnings December 31,2019     $310,000

Less: Cash dividend                                   $100,000

          (200000 * $0.50)

Less: Stock dividend                                   $150,000

         (200,000*5%*$15)                                              

                                                                    $60,000

Add: Net income                                        $285,000

Retained earnings                                     $345,000

The preparation of the retained earning statement for 2020 is presented below:

Retained earnings, December 31,2019 $310,000  

Less: Cash dividend -$100,000 ($200,000 × 0.50)

Less: Stock dividend -$150,000 ($200,000 × 5% × 15)

Add: Net income $285,000  

Retained earnings $345,000

Learn more: brainly.com/question/6201432

Use the following data to calculate the current ratio. Koonce Office Supplies Balance Sheet December 31, 2014
Cash $130,000 Accounts payable $100,000
Accounts receivable $100,000 Salaries and wages payable $20,000
Inventory $110,000 Mortgage payable 160,000
Prepaid insurance $60,000 Total liabilities 320000
Stock investments $170,000 Common stock $240,000
Land 180000 Retained earnings $500,000
Buildings 210000 Total stockholders' equity 740000
Less: Accumulated depreciation ($40,000) Total liability and 1.060,000
$170,000 stockholder equity
Trademarks $140,000
Total assets $1.060,000
a. 2.50:1
b. 2.13:1
c. 1.44:1
d. 2.86:1

Answers

Answer:

a. 2.50:1

Explanation:

Calculation for Current ratio

First step is to Calculate the Total current assets :

Cash $130,000

Accounts receivables $100,000

Inventory $110,000

Prepaid insurance $60,000

Total current assets (a) $400,000

Second step is to Calculate the Total current liabilities :

Accounts payable $140,000

Salaries and wages payable $20,000

Total current liabilities (b) $160,000

Now let find the current ratio using this formula

Current ratio = Total current assets / Total current liabilities

Let plug in the formula

Current ratio =$400,000 / $160,000

Current ratio =2.50 : 1

Therefore the Current ratio will be 2.50 : 1

Find an approximate annual dollar-weighted yield received by Abiyote for the three-year period from January 1, 1994 until January 1, 1997 using

Answers

Answer:

The information about Abiyote's investment is missing, so I looked for similar questions:

Abiyote's time weighted rate of return = [(1 + HP₁ )  x (1 + HP₂) x (1 + HP₃)]¹/³ - 1

HP₁ = ($28,212 - $24,500) / $24,500 = 0.1515

HP₂ = ($15,892 - $18,212) / $18,212 = -0.1274

HP₃ = ($30,309 - $23,892) / $23,892 = 0.2686

TWRR = [(1.1515 x 0.8726 x 1.2686)¹/³ - 1 = 0.08426 = 8.43%

You calculate TWRR in the same way as you calculate geometric mean.

Use the information in the ledger accounts.
Cash Nov. 1 144,000
Nov. 8 40,320
Nov. 25 14,400
Nov. 30 1,680
Land Nov. 8 84,000
Building Nov. 8 70,320
Office Equipment Nov. 15 3,840
Nov. 21 576
Vehicles Nov. 30 11,280
Notes Payable Nov. 25 14,400
Nov. 8 114,000
Nov. 30 9,600
Accounts Payable Nov. 21 576
Nov. 15 3,840
Capital Stock
Nov. 1 144,000
Prepare a trial balance for Avenson Insurance Company dated November 30.

Answers

Answer:

Avenson Insurance Company

Trial Balance as at 30 November

                                                         Debit          Credit

                                                            $                  $

Cash                                                 1,680

Land                                              84,000

Building                                         70,320

Office Equipment                          21 576

Vehicles                                         11,280

Notes Payable                                                    9,600

Accounts Payable                                               3,840

Capital Stock                                                    144,000

Total                                            $188,856   $157,440

Explanation:

A trial balance is prepared as at the end of the financial year. It is used to check the arithmetical accuracy of double entry.

Consider only the balances at the date of financial year end - November 30.

Esquire Company needs to acquire a molding machine to be used in its manufacturing process. Two types of machines that would be appropriate are presently on the market. The company has determined the following (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)Machine A could be purchased for $48,000. It will last 10 years with annual maintenance costs of $1,000 per year. After 10 years the machine can be sold for $5,000.Machine B could be purchased for $40,000. It also will last 10 years and will require maintenance costs of $4,000 in year three, $5,000 in year six, and $6,000 in year eight. After 10 years, the machine will have no salvage value.Required:Assume an interest rate of 8% properly reflects the time value of money in this situation and that maintenance costs are paid at the end of each year. Ignore income tax considerations. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)Calculate the present value of Machine A & Machine B. Which machine Esquire should purchase?

Answers

Answer: Machine B because it has the lower Present Value

Explanation:

Machine A

= Present Value of income - Present Value of Costs

Present value of Income;

Sold for $5,000 after 10 years.

= 5,000/ (1 + 8%)^10

= $2,315.97

Present Value of Costs;

Purchased for $48,000.

Maintenance of $1,000 per year for  years.

Present value of maintenance= 1,000 * Present value factor of annuity,  10 years, 8%

= 1,000 * 6.7101

= $6,710.10

Machine A Present Value

= 2,315.97 - 6,710.10 - 48,000

= ‭-$52,394

Machine B

No salvage value.

Present Value of costs

Purchased for $40,000.

Present value of maintenance = (4,000 / (1 + 8%)^3)  + (5,000 / ( 1 + 8)^6) + (6,000 / ( 1 + 8%)^8)

= -$9,567.79

Present Value = -40,000 - 9,567.79

= -$49,568

Which action is the best example of appropriate e-mail use at work?
providing urgent updates
sending meeting reports
sharing personal finances
giving criticism to someone

Answers

Answer:

B

Explanation:

Took the test

Answer:

The answer is B.) Sending meeting reports

Explanation:

E-mail is a great tool to use when you want to:

* document an event or an agreement. For example, “Thanks for agreeing to meet with my intern tomorrow morning.”

* send data and information in the form of files.

* provide updates that are not time critical. For example, “I wanted to let you know that the graphic design team expects to finish their changes by Monday.”

Now that you have had some time to think about appropriate ways to use e-mail, next you will learn about some inappropriate uses for e-mail.

I hope this helps. Have a happy day.

What should be the initial markup percent in a department that has the following figures: Net sales $320,000 Markdowns 7,800 Expenses 105,000 Employee discounts 1,950 Shortages 2,750 Alterations 1,025 Cash discounts 950 Profit 7.5%

Answers

Answer:

42.58%

Explanation:

Calculation for What should be the initial markup percent

First step is to calculate the gross margin using this formula

Gross Margin = Profit + Expenses,

Let plug in the formula

Gross margin = 105,000+24,000

Gross margin= 129,000

Second step is to calculate the reduction using this formula

Reduction = Markdown + Employee discount + Shortages

Let plug in the formula

Reduction = 7,800+1,950+2,750

Reduction = 12,500

Last step is to calculate the Intial Markup Percentage using this formula

Intial Markup Percentage = ( Gross margin + Reduction + Alteration - Cash Discount) / (Sales + Reduction)

Let plug in the formula

Intial Markup Percentage = (129,000+12,500+1,025-950) / (320,000+12,500)

Intial Markup Percentage = =141,575/332,500

Intial Markup Percentage =42.58%

Therefore What should be the initial markup percent is 42.58%

Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:
Cash $ 23,000
Accounts payable $ 19,000
Investments (short-term) 2,100
Accrued liabilities payable 3,100
Accounts receivable 4,600
Notes payable (short-term) 5,200
Inventory 27,000
Notes payable (long-term) 41,000
Notes receivable (long-term) 2,700
Common stock 10,700
Equipment 57,000
Additional paid-in capital 96,300
Factory building 91,000
Retained earnings 36,600
Intangibles 4,500
During the current year, the company had the following summarized activities:
a. Purchased short-term investments for $8,600 cash.
b. Lent $6,300 to a supplier who signed a two-year note.
c. Purchased equipment that cost $24,000; paid $4,900 cash and signed a one-year note for the balance.
d. Hired a new president at the end of the year.
e. The contract was for $86,000 per year plus options to purchase company stock at a set price based on company performance.
f. Issued an additional 2,300 shares of $0.50 par value common stock for $19,000 cash.
g. Borrowed $19,000 cash from a local bank, payable in three months.
h. Purchased a patent (an intangible asset) for $1,100 cash.
i. Built an addition to the factory for $29,000; paid $8,700 in cash and signed a three-year note for the balance.
j. Returned defective equipment to the manufacturer, receiving a cash refund of $2,400.
Prepare a classified balance sheet at December 31of the current year.

Answers

Answer:

a. Purchased short-term investments for $8,600 cash.

Dr short term investments 8,600

    Cr cash 8,600

b. Lent $6,300 to a supplier who signed a two-year note.

Dr notes receivable 6,300

    Cr cash 6,300

c. Purchased equipment that cost $24,000; paid $4,900 cash and signed a one-year note for the balance.

Dr equipment 24,000

    Cr cash 4,900

    Cr notes payable 19,100

d. Hired a new president at the end of the year.

no entry

e. The contract was for $86,000 per year plus options to purchase company stock at a set price based on company performance.

no entry

f. Issued an additional 2,300 shares of $0.50 par value common stock for $19,000 cash.

Dr cash 19,000

    Cr common stock 115

    Cr additional paid in capital 18,885

g. Borrowed $19,000 cash from a local bank, payable in three months.

Dr cash 19,000

    Cr notes payable 19,000

h. Purchased a patent (an intangible asset) for $1,100 cash.

Dr patent 1,100

    Cr cash 1,100

i. Built an addition to the factory for $29,000; paid $8,700 in cash and signed a three-year note for the balance.

Dr building 29,000

    Cr cash 8,700

    Cr notes payable 20,300

j. Returned defective equipment to the manufacturer, receiving a cash refund of $2,400.

Dr cash 2,400

    Cr equipment 2,400

Cougar Plastics CompanyBalance SheetFor the year ended December 31, 202xAssets

Current assets:

Cash $33,800

Accounts receivable $4,600

Inventory $27,000

Investments (short-term) $10,700

Total current assets                               $76,100

Long term investments:

Notes receivable $9,000

Total long term investments                  $9,000

Property, plant and equipment:

Equipment $78,600

Factory building $120,000

Total P, P & E                                      $198,600

Intangible assets:

Intangibles $4,500

Patent $1,100

Total intangible assets                         $5,600

Total assets                                                                             $289,300

Liabilities and stockholders' equity

Current liabilities:

Accounts payable $19,000

Accrued liabilities payable $3,100

Notes payable (short-term) $43,300

Total current liabilities                       $65,400

Long term liabilities:

Notes payable $61,300

Total long term liabilities                   $61,300

Stockholders' equity:

Common stock $10,815

Additional paid-in capital $115,185

Retained earnings $36,600

Total stockholders' equity              $162,600

Total liabilities + stockholder's equity                                     $289,300

What is a "debt-to-income" ratio?
OA. How much money you have to make every year in your job.
OB. How much money you owe in total versus how much you make.
O C. How much money you have to pay back on your income.
How much money you owe on your student loan compared with how much
OD.
you want to make in your job.

Answers

It’s how much you owe on your student loan compared with how much

If a firm's beta was calculated as 1.6 in a regression equation, a commonly-used adjustment technique incorporating a weighting on long-run beta of 1.0 would provide an adjusted beta of

Answers

Answer: between 1 and 1.6

Explanation:

The Market Beta is 1.0 which is why in the long run, betas will equal 1 and so will move steadily towards 1 overtime.

The adjustment technique will therefore show a beta between 1 and 1.6 because the 1.6 will move on to 1 overtime.

To explain, the adjustment technique is as follows;

Adjusted beta = 2/3(sample beta) + 1/3(1)

= 2/3(1.6) + 1/3

= 1.4

The adjusted beta of 1.4 is between 1 and 1.6.

Harper Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 25,000 pounds of raw chicken that costs $17,500, the company produces two parts: 4,400 pounds of drumsticks and 6,200 pounds of breast for a processing cost of $3,648. The chicken breast is further processed into 5,400 pounds of steak for a processing cost of $3,400. The market price of drumsticks per pound is $1.85 and the market price per pound of chicken steak is $5.40. If Harper decided to sell chicken breast instead of chicken steak, the price per pound would be $2.70.
Required:
a-1. Allocate the joint cost to the joint products, drumsticks and breasts, using weight as the allocation base.
a-2. Calculate the gross margin for each product.
a-3. If the drumsticks are producing a loss, should that product line be eliminated?
b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base.
b-2. Calculate the gross margin for each product.
c-1. Should Martin further process chicken breasts into chicken steak? (Use the assumption made in requirement b-1).
c-2. How would the profit be affected by your answer in c-1?

Answers

Answer:

Please see answers below

Explanation:

1a . Allocate the joint cost to the joint products

The allocation rate will be computed as follows:

Allocation cost = Total cost / Total number of pounds ( Drumstick + Breast)

= $17,500 + $3,648 / 4,400 + 6,200

= $21,148 / 10,600

= $2.0

Allocation costs of

Drumstick = Allocation rate × Drumstick

= $2.0 × 4,400

= $8,800

Chicken breast = Allocation rate × Chicken breast

= $2.0 × 6,200

= $12,400

Total cost = $8,800 + $12,400 = $21,200

2a. Market price per pound of drumstick $1.85

Market price per pound of chicken breast $2.70

The revenue for drumstick is computed as;

= 4,400 × $1.85

= $8,140

The revenue for chicken breast is computed as;

= 6,200 × $2.70

= $16,740

Compute gross margin.

Gross margin = Revenue cost - Allocation cost

Drumstick = $8,140 - $8,800 = ($660)

Chicken breast = $16,740 - $12,400 = $4,340

3a. No. This is because the drumstick can be eliminated due to the loss they are incurring, hence contribute to the total joint cost

3b. Compute reallocation rate as;

Rate = Total allocation / Total market value of drumstick + Chicken breast

= $21,200 / (4,400 × $1.85) + (6,200 × $2.7)

= $21,200 / $8,140 + $16,740

= $21,200 / $24,880

= $0.85

Compute the market cost of;

Drumstick = $0.85 × 4,400 × $1.85

= $6,919

Chicken breast = $0.85 × 6,200 × $2.70

= $14,229

3b2 Compute gross profit margin for each

Drumstick = $8,140 - $6,919

= $1,221

Chick breast = $16,740 - $14,220

= $2,520

On February 1, 2018, Wolf Inc. issued 10% bonds dated February 1, 2018, with a face amount of $270,000. The bonds sold for $323,440 and mature in 20 years. The effective interest rate for these bonds was 8%. Interest is paid semiannually on July 31 and January 31. Wolf's fiscal year is the calendar year. Wolf uses the effective interest method of amortization.
Required:
1. Prepare the journal entry to record the bond issuance on February 1, 2018.
2. Prepare the entry to record interest on July 31, 2018.
3. Prepare the necessary journal entry on December 31, 2018.
4. Prepare the necessary journal entry on January 31, 2019.

Answers

Answer:

Required 1

Cash $323,440 (debit)

Bonds Payable $323,440 (credit)

Required 2

Interest Expense $12,938 (debit)

Bond Payable $12,938 (credit)

Required 3

J1

Interest Expense $12,961 (debit)

Bond Payable $12,961 (credit)

Interest accrued on Bond

J2

Bond Payable $12,938 (debit)

Cash $12,938 (credit)

Interest Cash outflow

Required 4

J1

Interest Expense $12,961 (debit)

Bond Payable $12,961 (credit)

Interest accrued on Bond

J2

Bond Payable $12,938 (debit)

Cash $12,938 (credit)

Interest Cash outflow

Explanation:

First, determine the coupon payments as follows :

FV = ($270,000)

PV = $323,440

N = 20

P/yr = 1

I = 8%

PMT = ?

Using a Financial Calculator, the annual coupon payments will be $27,042 ($12,938 semi-annually).

July 31,2018

Effective Interest Calculation

Effective Interest = $323,440 × 8% × 1/2

                            = $12,938

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