Under the WTO agreement:_________
a. tariffs are permitted to be levied by developed countries against developing countries but not against each other
b. a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures
c. there is no dispute resolution mechanism except for trade involving environmental products
d. countries are allowed to place trade barriers on member countries with no particular justification, because like GATT the WTO has no enforcement mechanism
Answer:
Under the WTO agreement:_________
b. a dispute resolution mechanism allows countries to bring grievances to the WTO against countries that levy inappropriate trade discrimination measures.
Explanation:
The WTO (World Trade Organization) Agreement is an international legal framework covering about 63 agreements affecting trade in goods, services, intellectual property, standards, investment, and other issues with some impacts on world trade. The legal framework is a system of rules that supports open, fair, and undistorted trade competition, allowing tariffs and some protections.
Assume you decide you should invest at least part of your money in large-capitalization stocks of companies based in the United States. What are the advantages and disadvantages of choosing the Bledsoe Large-Company Stock Fund compared to the Bledsoe S
Sheridan Company used high-low data from June and July to determine its variable cost of $12 per unit. Additional information follows: Month Units produced Total costs June 2300 $37600 July 600 17200 If Sheridan’s produces 2900 units in August, how much is its total cost expected to be?
Answer:
See below
Explanation:
June 37,600 - 2,300 = 35,300
July 17,200 - 600 = 16,600
Newhard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes $17,870 in direct materials cost and $11,000 in direct labor cost. A total of 1,550 units were produced in Job 313.
Required:
What is the total manufacturing cost assigned to Job 313? What is the unit product cost for Job 313?
Answer:
A. Manufacturing costs =$41,850
B. Unitary cost = $27
Explanation:
Given the following information,
Newhard company assigns overhead costs to jobs based on 118% of direct labor cost
The Job cost sheet for job 313 includes $17,870 in direct materials cost and $11,000 in direct labor cost
A. Manufacturing costs = Direct materials + Direct labor + Manufacturing overhead
= $17,870 + $11,000 + ($11,000 × 1.18%))
= $17,870 + $11,000 + $12,980
= $41,850
B. Unitary cost = $41,850 / 1,550
Unitary cost = $27
A company purchases 20,000 pounds of materials. The materials price variance is $4,000 favorable. What is the difference between the standard and actual price paid for the materials
Answer:
The actual price was $0.2 lower than the standard price.
Explanation:
Giving the following information:
A company purchases 20,000 pounds of materials. The materials price variance is $4,000 favorable.
To calculate the direct material price difference, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
4,000 = (direct material price difference)*20,000
$0.2= direct material price difference
The actual price was $0.2 lower than the standard price.
Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbrough. Duff accepted the receivables subject to recourse for nonpayment. Duff assessed a fee of 3% and retains a holdback equal to 5% of the accounts receivable. In addition, Duff charged 15% interest computed on a weighted-average time to maturity of the receivables of fifty-four days. The fair value of the recourse obligation is $9,000. Scarbrough will receive and record cash of:___.
a. $556,685.b. $547,685.c. $538,685.d. $529,685.
Answer:
c.$538,685
Explanation:
Calculation to determine what Scarbrough will receive and record cash of
Receivables $600,000
Less: Amount of the hold back ($30,000)
($600,000 x 5%)
Less: Withheld as fee income ($18,000)
($600,000 x 3%)
Less: Withheld as interest expense ($13,315)
($600,000 × 15% × 54/365)
Cash $538,685
Therefore Scarbrough will receive and record cash of: $538,685
Pug Corporation has 11,000 shares of $10 par common stock outstanding and 21,000 shares of $100 par, 5% noncumulative, nonparticipating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $165,000 dividend will be paid. What are the dividends per share for preferred and common, respectively
Answer:
the dividends per share for preferred and common is $5 and $5.45 respectively
Explanation:
The computation of the dividend per share for both stocks is as follows:
For preference one
= 5% of $100
= $5
And, for common one
= ($165,000 - (21,000 × 100 × 5%)) ÷ (11,000 shares)
= $5.45
hence, the dividends per share for preferred and common is $5 and $5.45 respectively
Use the following information to answer this question.
Bayside, Inc. 2010 Income Statement ($ in thousands)
Net sales $ 6,020
Less: Cost of goods sold 4,240
Less: Depreciation 325
Earnings before interest and taxes $ 1,455
Less: Interest paid 29
Taxable Income $ 1,426
Less: Taxes 499
Net income $ 927
Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands)
2009 2010 2009 2010
Cash $ 80 $ 185 Accounts payable $ 1,445 $ 1,745
Accounts rec 940 780 Long-term debt 760 550
Inventory 1,560 2,010 Common stock $ 3,125 $ 3,020
Total $ 2,580 $ 2,975 Retained earnings 820 1,070
Net fixed assets3,570 3,410 Total assets $ 6,150 $ 6,385
Total liab. & equity$ 6,150 $ 6,385
What is the equity multiplier for 2010?
a) 0.52
b) 2.11
c) 2.04
d) 1.04
e) 1.56
Answer:
The correct option is e) 1.56.
Explanation:
Note: The data in this question are merged together. The complete question with the sorted data is therefore provided before asnwering the question. See the attached pdf file for the complete question with the sorted data.
The explanation of the answer is now provided as follows:
The equity multiplier can be described as a financial leverage ratio gives a measure of the total assets of a company that is financed by the shareholders of the company. This can be calculated using the following formula:
Equity multiplier = Total assets / Total Shareholder's Fund ........... (1)
Where, for Bayside, Inc. in 2010, we have:
Total assets = $6,385
Total Shareholder's Fund = Common stock + Retained earnings = $3,020 + $1,070.00 = $4,090
Substituting the figures into equation (1), we have:
Equity multiplier = $6,385 / $4,090 = 1.56
Therefore, the equity multiplier for 2010 is 1.56 and the correct option is e) 1.56.
Fern and Grover wish to combine their professional accountancy practices into a single firm that combines the pass-through tax status and other advantages of a partnership with limits to the personal liability of the partners. The appropriate business organization for this enterprise is most likely:______.
a. a family limited liability partnership.b. a limited liability partnership.c. a limited liability company.d. a limited liability limited partnership.
Answer:
The correct option is b. a limited liability partnership.
Explanation:
Limited liability partnerships (LLPs) are a type of partnership in which each partner's liability is limited to the amount invested in the company.
Limited liability means that creditors cannot seize a partner's personal assets or income if the partnership fails.
Spreading risk, leveraging individual abilities and knowledge, and establishing a division of labor are all advantages of having business partners.
Some of the professional businesses in which LLPs are common include accounting firms, legal firms, and among others.
Therefore, the correct option is b. a limited liability partnership.
ABC Company sales last year were 454, 000 , and its yearend total assets were 798000. The average in the industry has a total assets tumover ratio of 7 ABCCompany's new CFO believes the has excess assets that can be sold so as to bring the down total assets turnover ratio to the industry average without affecting sales By how much must the assets be reduced to bring the total assets tumover ratio to the industry average holding sales constant? Note: In writing your answer, using the comma In separating the digits, and round your answer to the nearest dollar. Answer?
Answer:
ABC Company
The assets must be reduced by $733,000 to bring the total assets turnover ratio to the industry average, while holding sales constant.
Explanation:
a) Data and Calculations:
Last year's sales = $454,000
Year end total assets = $798,000
Industry average total assets turnover ratio = 7
ABC's total assets are supposed to be $65,000 ($454,000/7)
The assets must be reduced by $733,000 ($798,000 - $65,000)
b) With the reduction of assets to $65,000, the assets turnover ratio of ABC Company will be equal to 7 ($454,000/$65,000).
A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The balance in its Common Stock account is $200,000. The company does a 2-for-1 stock split. What is the par value of its stock after the split
Answer:
$1 par value
Explanation:
The computation of the par value of the stock after the split is given below:
= $200,000 ÷ (100,000 × 2 )
= $200,000 ÷ 200,000
= $1 par value
Hence, the par value of its stock after the split is $1 par value
We simply divide the balance by the number of outsanding shares so that the par value could come
A water company has the monopoly in the water market and sells 7 units of output at $5.00 per unit and 8 units of output at $4.90 per unit. If the water company produces and sells the eighth unit, what must its marginal cost be
Answer:
$4.20
Explanation:
First and foremost, the marginal cost is the cost incurred in producing an extra unit of output, in this case, the marginal cost of eight-unit is the extra cost of producing one more after 7 units have been produced
Total Cost of producing 7 units=$5.00*7=$35.00
Total Cost of producing 8 units=$4.90*8=$39.20
Marginal cost of eight unit=Total Cost of producing 8 units-Total Cost of producing 7 units
Marginal cost of eight unit=$39.20-$35.00
Marginal cost of eight unit=$4.20
Riggins, Inc. manufactures one product called tybos. The company uses a standard cost system and sells each tybo for $8. At the start of monthly production, Riggins estimated 9,500 tybos would be produced in March. Riggins has established the following material and labor standards to produce one tybo:
Particulars Standard quantity Standard price
Direct materials 2.5 pounds $3 per pound
Direct labor 0.6 hours $10 per hour
During March 2013, the following activity was recorded by the company relating to the production of tybos:
1. The company produced 9,000 units during the month.
2. A total of 24,000 pounds of materials were purchased at a cost of $66,000.
3. A total of 24,000 pounds of materials were used in production.
4. 5,000 hours of labor were incurred during the month at a total wage cost of $55,000.
Instructions:
Calculate the following variances for March for Riggins, Inc.. Identify whether the variance is favorable or unfavorable.
a. Materials price variance
b. Materials quantity variance
c. Labor price variance
d. Labor quantity variance
Answer:
Riggins, Inc.
a. Material price variance
= $450 F
b. Material quantity variance
= $750 U
c. Labor price variance
= $550 U
d. Labor quantity variance
= $7,000 F
Explanation:
a) Data and Calculations:
Selling price of tybo per unit = $8
Estimated production units in March = 9,500
Standard material and labor costs:
Particulars Standard Standard Standard
quantity price per unit
Direct materials 2.5 pounds $3 per pound $7.50
Direct labor 0.6 hours $10 per hour $6.00
Actual production units in March = 9,000
Actual materials and labor costs:
Actual results:
Purchase of materials, 24,000 pounds = $66,000
Production usage = 24,000 pounds
Total labor hours = 5,000
Total wage cost = $55,000
Particulars Actual Actual Actual Cost
quantity price per unit
Direct materials 2.67 pounds $2.79 per pound $7.45
Direct labor 0.555 hours $11 per hour $6.11
Material price variance = (Standard price - Actual price) * Actual quantity
= ($7.50 - $7.45) * 9,000
= $450 F
Material quantity variance = (Standard Qty - Actual Qty) * Standard Price
= (23,750 - 24,000) * $3
= $750 U
Labor price variance = (Standard price - Actual price) * Actual hours
= ($6.00 - $6.11) * 5,000
= $550 U
Labor quantity variance = (Standard Qty - Actual Qty) * Standard Price
= (5,700 - 5,000) * $10
= 700 * $10
= $7,000 F
Tulane Tires wrote a contract for a $100,000 sale of tires to the new Garden District Tour Company. Tulane only anticipates a slightly greater than 50 percent chance that Garden will be able to pay the amounts that Tulane is entitled to receive under the contract. Upon delivery of the tires, assuming no payment has yet been made by Garden, how much revenue should Tulane recognize under U.S. GAAP
Answer:
zero or nil
Explanation:
The computation of the revenue that should be Tulane recognize under U.S. GAAP is shown below:
As per the GAAP, the probable means it is likely to be occured or as a reasonably predicted based on the available proof. Now this definition derives that it is high occurence so the contract should not be considered for the revenue recognition
Therefore the revenue is zero or nil
Croissants Corporation and Donuts Company transfer their assets to Edibles Inc., which manages the assets and distributes the profits to Croissants and Donuts. This arrangement is a. none of the choices. b. a joint venture. c. a syndicate. d. a business trust.
Answer:
Edibles Inc.
This arrangement whereby Croissants Corporation and Donuts Company transfer their assets to Edibles Inc. is called:
d. a business trust.
Explanation:
Edibles Inc., as a trustee, carries out business transactions on behalf of Croissants Corporation and Donuts Company, who are regarded as the trust's members (or beneficiaries). It is a formal structure that safeguards an entity's assets against creditors and ensures that the business is professionally run in line with accepted practices.
Cost-volume-profit [CVP] analysis is a widely-used, basic business model. Discuss the underlying assumptions made in the application of the model and whether or not these limit the usefulness of the model. Would you rely on the model
Answer:
Cost-volume-profit [CVP] Analysis
The cost-volume-profit analysis model assumes that the total fixed cost, the variable cost per unit, and the selling price per unit remain constant within the relevant range.
It is very difficult for a company to remain in the relevant range, where the assumptions will be obtained. Market forces, including the dynamics of competition change the underlying assumptions. For example, a company may become more efficient in its operations, thereby reducing its variable cost per unit. The total fixed cost may also change when the company increases its activity levels.
However, these limitations do not make the model less useful. It can be relied on to make short-run profit and pricing decisions.
Explanation:
The management of a business finds the CVP model useful in making important management decisions, especially decisions that relate to budgeting of production and sales, cost control, and profit planning. Management uses the CVP model to determine the break-even point in both units and sales dollars. Overall, management relies on the model to select its competitive products.
Mildred and Robert are the only buyers in the market for DVDs. Mildred buys 5 DVDs when the price of a DVD is $6.00 , 4 DVDs when the price of a DVD is $8.00 , and 2 DVDs a month when the price of a DVD is $10.00 . Robert buys 18 DVDs a month when the price of a DVD is $6.00 , 9 DVDs when the price of a DVD is $8.00 , and zero DVDs when the price of a DVD is $10.00 . In the market for DVDs, what do we know about the quantity demanded?
Answer:
increases as the price falls
Explanation:
A. increases as the price rises
B .at $8.00 a DVD is 8 DVDs a month
C. at $6 a DVD is less than the quantity demanded at $8.00 a DVD
D. increases as the price falls
E .at $6.00 a DVD is 4 DVDs a month
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
As price decreases, quantity demanded increases
A property was purchased by an investor. The property is expected to produce $200,000 of annual net operating income in year 1; increasing $20,000 every year thereafter. The owner intends to sell the property at the end of year 5.
Assuming the bank requires a 1.25 debt coverage service ratio based on the expected first year NOI, what is the maximum monthly mortgage payment?
Answer:
$13,333.33
Explanation:
Debt service coverage ratio = Net operating income in year 1 / Annual debt service
Annual debt service = Net operating income in year 1 / Debt service coverage ratio
Annual debt service = $200,000 / 1.25
Annual debt service = $160,000
1 years = 12 months
Monthly mortgage payment = Annual debt service / 12 months
Monthly mortgage payment = $160,000 / 12
Monthly mortgage payment = $13333.33333333333
Monthly mortgage payment = $13,333.33
So, the maximum monthly mortgage payment is $13,333.33.
Project ____ includes identifying project tasks and estimating completion time and costs. Group of answer choices Planning. Scheduling. Monitoring and controlling. Reporting.
Answer:
Project _Planning___ includes identifying project tasks and estimating completion time and costs.
Explanation:
Project Planning is one of the five stages of project management, which starts with project initiation, planning, execution, performance monitoring, and project close. Project scheduling is an activity carried out within project planning. After a project is executed, its performance needs to be monitored, controlled, and finally reported to the project owners to bring it to a successful close.
Supply chain management:is based on the concept of just-in-timefocuses on removing scheduling bottlenecks within the companyfocuses on the internal routing of products from raw materials to finished goodsis a complex computerized system for managing resources efficientlyis accurately described by none of the above
Answer:
is based on the concept of just-in-time.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers.
Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services from the manufacturers to the consumers.
Additionally, all businesses tend to use supply chain management to eliminate waste and maximize value for growth and development.
Hence, supply chain management is based on the concept of just-in-time (JIT) because it is a management framework that is focused on cutting manufacturing costs while increasing efficiency between suppliers and consumers through the use of a proper inventory system.
. Kathy plans to move to Maryland and take a job at McCormick as the Assistant Director of HR. She and her husband Stan plan to buy a house in Garrison, MD and their budget is $500,000. They have $100,000 for the down payment and McCormick will pay for closing costs. They are considering either a 30 year mortgage at 4.5% annual rate or a 15 year mortgage at 4%. Calculate the monthly payment for each. Property taxes and insurance will add $1,000 per month to which ever mortgage they choose. What should Kathy and Stan do
Answer:
a. For a 30-year mortgage at 4.5% annual rate, we have:
Monthly required fixed loan payment = $2,026.74
Total monthly payment = $3,026.74
Total payments for 360 months = $1,089,626.85
b. For a 15 year mortgage at 4% annual rate, we have:
Monthly required fixed loan payment = $2,958.75
Total monthly payment = $3,958.75
Total payments for 180 months = $712,575.31
c. Kathy and Stan should choose a 15 year mortgage at 4% annual.
Explanation:
a. For a 30-year mortgage at 4.5% annual rate
The monthly required fixed loan payment can be calculated using the formula for calculating loan amortization as follows:
P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)
Where:
P = Monthly required fixed loan payment = ?
A = Loan amount = House budget – Down payment = $500,000 - $100,000 = $400,000
r = monthly interest rate = 4.5% / 12 = 0.045 / 12 = 0.00375
n = number of months = 30 * 12 = 360
Substituting all the figures into equation (1), we have:
P = ($400,000 * (0.00375 * (1 + 0.00375)^360)) / (((1 + 0.00375)^360) - 1) = $2,026.74
Therefore, we have:
Monthly required fixed loan payment = $2,026.74
Total monthly payment = Monthly required fixed loan payment + Property taxes and insurance = $2,026.74 + $1,000 = $3,026.74
Total payments for 360 months = Total monthly payment * 360 = $3,026.74 * 360 = $1,089,626.85
b. For a 15 year mortgage at 4% annual rate
The monthly required fixed loan payment can be calculated using the formula for calculating loan amortization as follows:
P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)
Where:
P = Monthly required fixed loan payment = ?
A = Loan amount = House budget – Down payment = $500,000 - $100,000 = $400,000
r = monthly interest rate = 4% / 12 = 0.04 / 12 = 0.00333333333333333
n = number of months = 15 * 12 = 180
Substituting all the figures into equation (1), we have:
P = ($400,000 * (0.00333333333333333 * (1 + 0.00333333333333333)^180)) / (((1 + 0.00333333333333333)^180) - 1) = $2,958.75
Therefore, we have:
Monthly required fixed loan payment = $2,958.75
Total monthly payment = Monthly required fixed loan payment + Property taxes and insurance = $ 2,958.75 + $1,000 = $3,958.75
Total payments for 180 months = Total monthly payment * 360 = $3,958.75 * 180 = $712,575.31
c. Recommendation
Since the total payment of $712,575.31 for a 15 year mortgage at 4% annual is lower than the total payments of $1,089,626.85 for a 30-year mortgage at 4.5% annual rate, Kathy and Stan should choose a 15 year mortgage at 4% annual.
Project planning teams use project life cycle models because various types of projects have differing demands. Which of the following sequences of stages is most appropriate for a life cycle model for research and development (R & D) projects?
a. define - measure - analyze - improve - control.
b. concept definition - demonstration - development - production.
c. pre-planning - design - procurement - construction - start up.
d. concept - requirements - design - code - test - turnove.
Answer:
concept definition - demonstration - development - production
Explanation:
Research and development is mainly concerned with the development of a new concept, incorporation into a product, and delivery of product to the market as a way to improve the bottom line of the company.
It allows companies maintain a competitive edge over others in the same industry by bring new and innovative products to the customer.
The stages of R&D include: concept definition - demonstration - development - production.
The innovative idea is first defined and feasibility is evaluated.
The concept is demonstrated to show practicability of the idea.
The concept is further developed to suit customer needs.
Finally production and marketing is done to make product available to the customer.
"Standard Cost Data per 1 Unit Quantity Price Direct Material 3 lbs $2.00/lb Direct Labor 2 hrs $4.00/hr Actual Data: Units produced 20 Material purchase 100 lbs at $2.25 per lb Material usage 90 lbs Direct Labor 30 hrs; total cost $123 Compute all standard costs and variances for DM & DL. Show all computations."
Answer and Explanation:
The computation is shown below:
The Standard cost for 20 units is
Material (20 units × 3lbs × $2lb) $120
Direct labor (20 units × 2lbs × $4) $160
Total standard cost $280
Now
Direct material price variance = (Actual price -Standard price) × Actual quantity
= (2.25-2.00) × 90
=22.5 Unfavorable
Direct material quantity variance = (Actual quantity- Standard quantity) × Standard price
=(90-20x3) × 2
= $60 unfavorable
Direct material cost variance =Direct material price variance + Direct material quantity variance
=22.5 UF+$60UF
=82.50UF
Direct labor Rate variance = (Actual rate -Standard rate) × actual hours
= (4.10-4.00) × 30 hrs
= $3 Unfavorable
Actual rate = $123 ÷ 30 hrs
= $4.10
Direct labor Quantity variance = (Actual hours -Standard hours ) × Standard rate
=(30-20 × 2) × 4
=$40 favorable
Direct labor cost variance =Direct labor Rate variance+Direct labor Quantity variance
=$3 unfavorable + $40 favorable
=$37 favorable
Sheffield Corp. reported the following information for 2016: October November December Budgeted sales $1200000 $1120000 $1400000 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Sheffield receive in November?
Answer: $1,160,000
Explanation:
The amount of cash that Sheffield will receive in November will be calculated as:
= (October budget sales × 50%) + (Novemeber budgeted sales × 50%)
= ($1200000 × 50%) + ($1120000 × 50%)
= $600,000 + $560,000
= $1,160,000
Sheffield will receive $1,160,000 in November.
Charles Company acquired Jackson Company for $2,000,000 cash. At that time, the fair value of recorded assets and liabilities was $1,500,000 and $250,000, respectively. If Jackson meets specified sales targets, Charles is required to pay an additional $200,000 in cash per the acquisition agreement. Charles estimates the probability of this to be 50%. The direct costs related to the acquisition were $50,000. What was the amount of the goodwill related to the acquisition?
Answer:
$950,000
Explanation:
Goodwill is defined as the excess of Purchase Price over the Net Assets taken over.
therefore
Goodwill = Purchase Price - Fair Value of Net Assets taken over
Note : Acquisition cost is an expense and not included in this calculation.
Since the probability is more likely than not (Probability > or = 50 %) , we include the $200,000 in the Purchase Price
thus,
Goodwill = $2,200,000 - ($1,500,000 - $250,000)
= $950,000
For 115 consecutive days, a process engineer has measured the temperature of champagne bottles as they are made ready for serving. Each day, she took a sample of 10 bottles. The average across all 1,150 bottles (115 days, 10 bottles per day) was 40 degrees Fahrenheit. The standard deviation across all bottles was 0.5 degree Fahrenheit.
Required:
When constructing an X-bar chart, what would be the center line?
Answer:
40° Fahrenheit
Explanation:
For an X-bar, the centre line is then average across all components. In this case, the average temperature across all 1150 bottles over 115 days will be 40° Fahrenheit as it is reported.
Concentration ratios measure the Group of answer choices geographic location of the largest corporations in each industry. degree to which product price exceeds marginal cost in various industries. percentage of total industry sales accounted for by the largest firms in the industry. number of firms in an industry.
Answer:
percentage of total industry sales accounted for by the largest firms in the industry.
Explanation:
The concentration ratio calculated the market share percentage for an industry and the same is held by the larger firms inside the industry. Also it determined the total output that could be generated from the number of firms in the industry
Therefore as per the given options, the above options should be considered correct
The National Income and Product Accounts simultaneously provide data on: (a) production and efficiency; (b) technological progress and product improvements; (c) total output and the income derived from its production; (d) slugging percentage and on-base percentage.
If total assets decreased by $49,928 during a period of time and stockholders' equity increased by $26,024 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is a.$21,578 increase b.$49,928 decrease c.$75,952 increase d.$75,952 decrease
Answer:
d.$75,952 decrease
Explanation:
We simply use the Accounting Equation to determine the period's change in total liabilities.
So, the Accounting Equation states :
Assets = Equity + Liabilities
also
Assets - Equity = Liabilities
therefore,
($49,928) - $26,024 = Liabilities
(- $75,952) = Liabilities
conclusion
The period's change in total liabilities is $75,952 decrease
Hide or show questions Progress:10/40 items Roman Industries' plant operates five days per week with a daily payroll of $6,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, March 31. What is the amount of Wages Expense recorded on the next payday, Saturday, April 3
Answer:
$12,000
Explanation:
Calculation to determine the amount of Wages Expense recorded on the next payday, Saturday, April 3
Wages Expense =$6,000*2days
Wages Expense = $12,000
Therefore the amount of Wages Expense recorded on the next payday, Saturday, April 3 will be $12,000