Suppose you are committed to owning a $220,000 Ferrari. If you believe your mutual fund can achieve an annual return of 10.85 percent, and you want to buy the car in 8 years on the day you turn 30, how much must you invest today

Answer:

2,291,520

Explanation:

220,000×10.85%=23,870

23,870×96=2,291,520

Managerial accounting information is limited or restricted by which of the following authorities or principles?
A) Securities and Exchange Commission
B) Financial Accounting Standards Board
C) Generally Accepted Accounting Principles
D) Value Added Principle

J&H Corp. recently hired Jeffrey. His immediate mandate was to analyze the company. He has to submit a report on the company's operational efficiency and estimate potential investment in working capital. He has the income statement from last year and the following information from the company's financial reports as well as some indust averages Last year, J&H Corp. reported a book value of $650 million in current assets, of which 30% is cash, 32% is short-term investments, and the rest is accounts receivable and inventory The company reported $552.5 million of current liabilities including accounts payable and accruals. Interestingly, the company had no notes payable claims last year. There were no changes in the accounts payables during the reporting period.The company, however, invested heavily in plant and equipment to support its operations. It reported a book value of $1,040 million in long-term assets last year Income Statement For the Year Ended on December 31 (Millions of dollars) Industry Average J&H Corp Net sales $2,700 2,160 108 2,268 $432 $3,375 2,700 135 2,835 $540 81 $459 184 $275 Operating costs, except depreciation and amortization Depreciation and amortization Total operating costs Operating income (or EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes (40%) Net income $389 156 $233 Based on the information given to Jeffrey, he submits a report on January 1 with some important calculations for management to use, both for analysis and to devise an action plan. Which of the following statements in his report are true? Check all that apply a) J&H Corp. has-$110.5 million of noninterest-bearing current assets net of noninterest-charging liabilities b) The company has $442.0 million in operating assets and $552.5 million in operating liabilities c) J&H Corp. has $148.7 million of net operating capital d) The firm uses $929.5 million of total net operating capital to run the business e) Based on the information on industry averages, other players in the industry would generate higher profits

What are the transactions requirements for chase?

What is a subcontractor

Natalie has prepared the balance sheet and income statement of Cookie & Coffee Creations Inc. and would like you to prepare the cash flow statement. The comparative balance sheet of Cookie & Coffee Creations Inc. at October 31, 2018 for the years 2018 and 2017 and the income statement for the year ended October 31, 2018, are presented below.COOKIE & COFFEE CREATIONS INC.Balance SheetOctober 31,Assets 2018 2017 Cash $22,324 $5,550 Accounts receivable 3,250 2,710 Inventory 7,897 7,450 Prepaid expenses 5,800 6,050 Equipment 102,000 75,500 Accumulated depreciation— equipment (25,200 ) (9,100 )Total assets $116,071 $88,160COOKIE & COFFEE CREATIONS INC.Balance SheetOctober 31,Liabilities and Stockholders’ Equity 2018 2017Accounts payable $1,150 $2,450Income taxes payable 9,251 7,200Dividends payable 27,000 27,000Salaries and wages payable 7,250 1,280Interest payable 188 0Note payable 10,000 0Preferred stock, no par, $6 cumulative, 3,000 and 2,800 shares issued, respectively 15,000 14,000Common stock, $1 par—25,180 shares issued and outstanding 25,180 25,180Additional paid-in capital—treasury stock 250 250Retained earnings 20,802 10,800Total liabilities and stockholders’ equity $116,071 $88,160COOKIE & COFFEE CREATIONS INC.Income StatementYear Ended October 31, 2018Sales $485,625Cost of goods sold 222,694Gross profit 262,931Operating expenses Salaries and wages expense $147,979 Depreciation expense 17,600 Other operating expenses 48,186 213,765Income from operations 49,166Other expenses Interest expense $413 Loss on disposal of plant assets 2,500 2,913Income before income tax 46,253Income tax expense 9,251Net income $37,0021. Equipment (cost $4,500 and book value $3,000) was disposed of at the beginning of the year for $500 cash and replaced with new equipment purchased for $4,000 cash.2. Additional equipment was bought for $14,000 on November 1, 2017. A $12,000 note payable was signed. The terms provide for equal semi-annual installment payments of $2,000 on May 1 and November 1 of each year, plus interest of 5% on the outstanding principal balance.3. Other equipment was bought for $13,000 cash.4. Dividends were declared on the preferred and common stock on October 15, 2018, to be paid on November 15, 2018.5. Accounts payable relate only to merchandise creditors.6. Prepaid expenses relate only to other operating expenses.Prepare a statement of cash flows for Cookie & Coffee Creations Inc. for the year ended October 31, 2018, using the indirect method.Prepare a statement of cash flows for Cookie & Coffee Creations Inc. for the year ended October 31, 2018, using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Compute the future value of a $130 cash flow for the following combinations of rates and times. (Do not round intermediate calculations. Round your answers to 2 decimal places.)
a. r = 7%; t = 10 years
b. r = 7%; t = 20 years
c. r = 3%; t = 10 years
d. r = 3%; t = 20 years

Minnesota Office Products (MOP) produces three different paper products at its Vaasa lumber plant: Supreme, Deluxe, and Regular. Each product has its own dedicated production line at the plant. It currently uses the following three-part classification for its manufacturing costs: direct materials, direct manufacturing labor, and manufacturing overhead costs. Total manufacturing overhead costs of the plant in July 2014 are $150 million ($15 million of which are fixed). This total amount is allocated to each product line on the basis of the direct manufacturing labor costs of each line. Summary data (in millions) for July 2014 are as follows:

Supreme Deluxe Regular
Direct material costs $89 $57 $60
Direct manufacturing labor costs $16 $26 $8
Manufacturing overhead costs $48 $78 $24
Units produced 125 150 140
(1) Compute the manufacturing cost per unit for each product produced in July 2014.

(2) Suppose that, in August 2014, production was 150 million units of Supreme, 190 million units of Deluxe, and 220 million units of Regular. Why might the July 2014 information on manufacturing costs per unit be misleading when predicting total manufacturing costs in August 2014?

Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price. b. The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets. c. Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses. d. Thomas records expenses incurred to produce the sales for the month. e. GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded. f. Thomas Company provides earnings information to investors at the end of every quarter. g. The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

Weber Company purchases $50,000 of raw materials on account, and it incurs $60,000 of factory labor costs. Supporting records show that (a) the Assembly Department used $24,000 of raw materials and $35,000 of the factory labor, and (b) the Finishing Department used the remainder. Manufacturing overhead is assigned to departments on the basis of 160% of labor costs. Journalize the assignment of overhead to the Assembly and Finishing Departments.

You were recently hired by the CPA firm of Honson & Hansen. Within two weeks, you were sent to the first- year staff training course.
A. How is audit evidence defined?
B. How does audit evidence relate to assertions and to the audit report?
C. What characteristics of evidence should an auditor be concerned with when searching for and evaluating audit evidence?

Gadget Twin Inc. recently raised capital through an initial public offering (IPO). Its stock can now be purchased on the NYSE. This company is referred to as:

You are a manager of a soft drinks company that is planning to go head to head with Coca-Cola to increase market share. Your strategy is to increase your product ranges that you plan to offer to Mass Market. Along with the extension of the products and product lines, you want to be responsive to the different geographic regions you plan to serve. So, your main focus is to balance the extended product categories along with the responsiveness to the geographic regions to serve. Currently you have a functional structure which may not be suitable for maintaining Products along with Geographic Responsiveness. So, you are required to IDENTIFY which Organizational Structure (For Example: PRODUCT BASED DIVISION, REGION BASED DEVISIONS, MATRIX STRUCTURE, etc.) would be best suitable if your strategy intends to: a. Lowering cost b. Increasing responsiveness c. or both Provide Rationale for each of the Structural Choices for the aforementioned three strategic intentions.

One thousand dollars is borrowed for one year at an interest rate of 1% per month (12% compounded monthly). If the same sum of money could be borrowed for the same period at an interest rate of 12% compounded yearly, how much could be saved in interest charges?

The standard long-run model assumes that:_____.
a. technology improves at an increasing rate over time.b. technological advance is impossible.c. technology is fixed.d. costs of production are fixed.

What does an risk management plan addendum look like?

Your shift’s productivity is slow because one person is not pulling his share. The rest of the team is getting upset . What would you be most and least likely to do ?

On January 1, 2018, Wellburn Corporation leased an asset from Tabitha Company. The asset originally cost Tabitha $360,000. The lease agreement is an operating lease that calls for four annual payments beginning on January 1, 2018, in the amount of $31,000. The other three remaining payments will be made on January 1 of each subsequent year. Which of the following journal entries should Tabitha record on January 1, 2018?a. Cash 31,000  Rent expense 31,000  b. Cash 31,000  Lease receivable 31,000        c. Cash 31,000   Rent revenue 31,000        d.Rent revenue 31,000  Cash 31,000       

How to start a hotel business

Like other manufacturers and sellers, Peoples ProductsCorporation labels its goods. Federal labeling andpackaging rules are enforced by the Federal TradeCommission and:________a. the U.S. Department of Commerce.b. the U.S. Department of Health and Human Services.c. the U.S. Department of Justice.d. the U.S. Department of the Treasury.

When Proctor and Gamble removed potentially dangerous dyes and chemicals from its Tide detergent product and introduced Tide Free they were making a _____.a) product line contraction.b) quality modification.c) aesthetics modification.d) obsolescence factor.e) functional modification.

Almaden Hardware Store sells two product categories, tools and paint products. Information pertaining to its 2021 year-end inventory is as follows:Inventory,by Product Quantity Per Unit Net Realizable ValueCategory Cost Tools: Hammers 110 $ 4.10 $4.60 Saws 110 9.10 8.10 Screwdrivers 210 1.10 1.70 Paint products: 1-gallon cans 410 5.10 4.10 Paint brushes 110 3.10 3.60 Required:1. Determine the carrying value of inventory at year-end, assuming the lower of cost or net realizable value (LCNRV) rule is applied to (a) individual products, (b) product categories, and (c) total inventory.2. Assuming inventory write-downs are common for Almaden, record any necessary year-end adjustment amount for each of the LCNRV applications in requirement 1.

Due to impending labor strife over planned layoffs in its Silicon Valley headquarters, a social networking company has decided to outsource its programming operations to an emerging market, India, to obtain cheaper labor. Since then, this social networking company has encountered criticism that has diminished its current market position and staff productivity. You have been retained by this company to develop an appropriate reactive (emergent) strategy that would begin by

By 2025, annual consumption in emerging markets will total $30 trillion and contribute more than ________ percent of global GDP growth.a. 81b. 85c. 70d. 78e. 65

Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on candy bars and bags of peanuts. The price of candy bars is $0.75 and the price of peanuts is $1.50.
a. Complete the table below showing the alternative combinations of the two products that are available.
Instructions:Enter only whole numbers.
Consumption Alternatives
Goods A B C D E F
Candy Bars 0 4 8 12 16 20
Bags of Peanuts
b. Use the data in the above table to plot a budget line in the graph with candy bars on the horizontal axis.

Pastina Company sells various types of pasta to grocery chains as private label brands. The company’s reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 30,000 Accounts receivable 40,000 Supplies 1,500 Inventory 60,000 Notes receivable 20,000 Interest receivable 0 Prepaid rent 2,000 Prepaid insurance 6,000 Office equipment 80,000 Accumulated depreciation 30,000 Accounts payable 31,000 Salaries payable 0 Notes payable 50,000 Interest payable 0 Deferred sales revenue 2,000 Common stock 60,000 Retained earnings 28,500 Dividends 4,000 Sales revenue 146,000 Interest revenue 0 Cost of goods sold 70,000 Salaries expense 18,900 Rent expense 11,000 Depreciation expense 0 Interest expense 0 Supplies expense 1,100 Insurance expense 0 Advertising expense 3,000 Totals 347,500 347,500 Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year is $10,000. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,500. On October 1, 2021, Pastina borrowed $50,000 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. On March 1, 2021, the company lent a supplier $20,000, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. On April 1, 2021, the company paid an insurance company $6,000 for a one-year fire insurance policy. The entire $6,000 was debited to prepaid insurance. $800 of supplies remained on hand at December 31, 2021. A customer paid Pastina $2,000 in December for 1,500 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. On December 1, 2021, $2,000 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,000 per month. The entire amount was debited to prepaid rent. I want the answers from question 1-8

Palmona Co. establishes a $270 petty cash fund on January 1. On January 8, the fund shows $181 in cash along with receipts for the following expenditures: postage, $36; transportation-in, $13; delivery expenses, $15; and miscellaneous expenses, $25. Palmona uses the perpetual system in accounting for merchandise inventory.
Prepare journal entry to establish the fund on January 1, reimburse it on January 8, and reimburse the fund and increase it to $320 on January 8, assuming no entry in part 2. (Hint: Make two separate entries for part 3.)

What are key values of group work?

Which of the following is an example of a divisional organizational structure? A.Structure is temporary and will likely disband after project is complete. B.Structure is organized either by product or by region. C.Structure allows employees to focus more on department goals rather than company-wide goals. D.Structure groups all employees with the same kind of job together.

As a new manager, Candace has had to learn a lot, and sometimes her job is more stressful than she expected. As a manager, she needs to fulfill many roles. Candace schedules employees for shifts at the front desk, in the dog play areas, and in the bathing and grooming rooms. This is part of the _______________role of management, which falls under the___________ component. To adapt to being a manager, Candace has had to get things done by working ____________.

Fair Oaks Farms’ manure management, specifically the use of cow manure to power their facilities and fuel their milk tankers, is most closely related to which managerial challenge?