The journal entry for the given data are:
Jan. 3
Cash 18,000
Notes Receivable 18,000
Feb. 10
Records of sales of 24,000
Stock 14,400
Cost of Products Sold 14,400
Feb. 12
Notes Receivable 24,000
Records of sales of 24,000
Apr. 3
Interest Income 720
Notes Receivable 18,000
Cash 18,720
May 11
Cash 24,000
Notes Receivable 24,000
Apr. 3
Notes Receivable 60,000
Interest Receivable 720
May 11
Notes Receivable 8,000
Cash 7,920
July 12
Notes Receivable 60,000
Interest Receivable 720
Interest Cost 720
Aug. 1
Notes Receivable 9,000
Cash 8,910
Oct. 5
Records of sales of 13,500
Cost of Merchandise Sold 8,100
Deals Income 13,500
Oct. 15
Cash 13,230
Records of sales of 13,500
Discounts Allowed 270
Clarification:
The above journal entries at first record the exchanges of Caldemeyer Co. . Here, the records engaged with every exchange are identified, debited, and credited by and large.
Learn more about journal entries:
https://brainly.com/question/21773554
#SPJ4
in the economy of scottopia, policy makers want to lower the unemployment rate and raise real gdp by using monetary policy. in the accompanying diagram, shift the ad, lras, and/or sras curves and move the equilibrium point to its new position to show why this policy will ultimately result in a higher aggregate price level but no change in real gdp.
A higher overall price level with no corresponding change in actual GDP The rate of unemployment is equal to the natural rate of unemployment when an economy is producing at its full employment output.
Which of the following best describes inflation that is still taking place, but more slowly?Deflation, the antithesis of inflation, is primarily caused by shifts in supply and demand. Disinflation, on the other hand, shows how quickly inflation changes over time. Inflation is still beneficial even though it is declining over time.
What remedies are available for the growing unemployment?To lower unemployment, industrial activity needs to be decentralized. There will be fewer job prospects in a region where industrial activity is concentrated.
To know more about unemployment visit:-
https://brainly.com/question/14227610
#SPJ4
1. If you want to have $60,000 in 8 years, how
much do you need to deposit in the bank today if
the account pays an interest rate of 9%?
Answer: If you want to have $60,000 in 8 years at an interest rate of 9% you need to deposit $30,111.98
Explanation: You can solve this using the Future Value formula.
The worth of a current asset at some point in the future based on an estimated rate of growth is known as future value (FV). For investors and financial planners, the future value is crucial because they use it to predict how much an investment made now will be worth in the future.
Formula for FV is:
Future value = Present value x ( 1 + rate)^ number of years
You have everything except the present value so solve for it:
[tex]60000 = PV * (1+9)^{8}\\60000 = PV * 1.99256264\\PV = 60000/1.99256264\\PV = $30,111.98[/tex]
To know more about Future Value:
https://brainly.com/question/24703884
https://brainly.com/question/20813161
You own a portfolio consisting of the securities listed below. The expected return for each security is as shown. What is the expected return on the portfollo? Stock NumberPrice Expected of per Return 250 | S15 16 4% 100 24 5% O 10.86 percent O 12.09 percent O 11.41 percent 1176 percentO 11.23 percent
The expected return for each security is Expected Return = 11.41%
What is Expected Return?Value of Stock A = 250 shares * $15
Value of Stock A = $3,750
Value of Stock B = 300 shares * $27
Value of Stock B = $8,100
Value of Stock C = 500 shares * $38
Value of Stock C = $19,000
Value of Stock D = 100 shares * $9
Value of Stock D = $900
Total Value of Portfolio = $3,750 + $8,100 + $19,000 + $900
Total Value of Portfolio = $31,750
Weight of Stock A = $3,750/$31,750
Weight of Stock A = 0.1181
Weight of Stock B = $8,100/$31,750
Weight of Stock B = 0.2551
Weight of Stock C = $19,000 /$31,750
Weight of Stock C = 0.5984
Weight of Stock D = $900 /$31,750
Weight of Stock D = 0.0284
Expected Return = 0.1181 * 11.2% + 0.2551 * 16.4% + 0.5984 * 8.7% + 0.0284 * 24.5%
Expected Return = 11.41%
To know more about Expected Return, visit:
https://brainly.com/question/29059622
#SPJ1
colony corporation issued 3000 7% 5-year, $1,000 bonds dated january 1, 2022, at face value. interest is paid each january 1.
The journal entries for bonds issuance of Colony corporation are:
January 1, 2022
Cash $3,000,000
Bonds Payable $3,000,000
Adjusting journal entry to record interest expense:
December 31, 2022
Interest Expense $210,000
Interest Payable $210,000
Journal entry to record interest paid:
January 1, 2023
Interest Payable $210,000
Cash $210,000
Let's disucss every transaction event
On January 1, 2022 Colony corportaion issued 3,000 bonds with interest rate of 7%, 5-years, and face value of $1,000. Hence the total bond values is:
Total bonds value = Number of Bonds issued x face value
Total bonds value = 3,000 x $1,000
Total bonds value = $3,000,000
Accrued interest expense
When adjusting its financial statements, Colony Corporation should record the interest expense for the year. The interest expense accrued at December 31, 2022 is:
Accrued Interets expense = Total bonds value x Interest rate
Accrued Interest expense = $3,000,000 x 7%
Accured Interest expense = $210,000
Payment of interest expense
On January 1, 2023 Colony corporation should pay the accrued interest expense recorded at December 31, 2022 which is $210,000.
Learn more about Bonds Issuance here: https://brainly.com/question/15695293
#SPJ4
Complete Question:
Colony Corporation issued 3,000 75 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1.
a. Prepare the journal entry to record the sale of these bonds on January 1, 2022.
b. Prepare the adjusting journal entry on Decembe 31, 2022, to record interest expense.
c. Prepare the journal entry on January 1, 2023, to record interest paid.
imagine that you manage a small appliance store where salespeople are paid an hourly wage with no bonus or additional compensation. recently, a big-box store has been luring away your best people by offering them not only a higher hourly wage, but also pay for performance (based on their sales). list and explain at least three non monetary ways to improve your employee retention.
For this situation, using a quantitative analysis tool would be the best compensation course of action. By upholding higher operational standards and increasing its adaptability in the specific operating environment.
The implementation of quantitative forecasting approach would give the organizational structure with an acceptable level of support.
The best strategy to increase the adaptability of the main appliances store would be to look at the records as well as past sales records and forecast the necessity accordingly.
Looking at the organization's record-keeping procedures, such as its electronic record-keeping procedures, would also be a good way to increase the likelihood that a particular implementation guide will produce better results. The availability of information from the previous year can be used to predict the type of upcoming sales.
Learn more about adaptability here
https://brainly.com/question/29768035
#SPJ4
afecreen inc. has an average of 85 working days in a quarter. the company conducts quality checks to assess the performance of its employees. the employees who perform well may receive a bonus after 70 days or 100 days, but the average interval between the completion of tasks and the receiving of bonus is 85 days. in the context of reinforcement theory of motivation, which of the following intermittent reinforcement schedules does this scenario best illustrate?
This scenario best illustrates an interval ratio schedule of reinforcement.
This type of reinforcement schedule provides a reward after a certain number of responses (in this case, the completion of tasks) have been made. The average interval between the completion of tasks and the receiving of bonus (85 days) is set as the interval ratio, and the reward is given after 70 or 100 responses. This type of reinforcement helps to maintain motivation and encourages employees to continue to perform well.
A psychological theory called reinforcement theory contends that actions have consequences and that reinforcement, punishment, and extinction are effective ways to alter behaviour.
To know more about reinforcement here
https://brainly.com/question/14018943
#SPJ4
Organizations strive to control employees' behavior by linking ______ systems to their control systems. a. disciplinary b. disincentive c. reporting
By connecting their incentive systems to their control systems, firms try to manage the behaviour of their workforce or strategic planning.
Strategic planning is the process of setting rules, procedures, and goals to increase a company's or organization's competitiveness. The basic objective of strategic management is to allocate personnel and resources efficiently to accomplish these objectives.
Strategic management is often thought to have both financial and non-financial advantages. A strategic management process enables a firm and its leadership to think about and make plans for the future, which is a major responsibility of a board of directors.
Strategic management determines the direction of the company and its workforce. In contrast to static strategic plans, competent strategic management continuously plans, monitors, and tests an organization's operations, boosting operational effectiveness, market share, and profitability.
To know more about strategic planning visit the link below:
brainly.com/question/16699515
#SPJ4
The Case:During the course of a study, the researcher reports to the IRB that the consent form needs to be changed to reflect her new contact information.
The Question: Who can approve this change?
The researcher notifies the IRB during course of the research that the Chair of IRB should update the consent form to reflect her updated contact information.
An IRB is what?An Institutional Examine Board is a body that has been explicitly authorized to review and oversee science research involving human beings in accordance with FDA standards. An IRB has the power to approve, demand changes be made (to achieve approval), or reject research in compliance with FDA standards.
What does IRB in education mean?The American Psychological Association's Committee on Associates and Baccalaureate Teaching (CABE) acknowledges the necessity for Institutional Watchdog Groups (IRBs) to examine proposed research at all research universities if (a) research involving human participants.
To know more about IRB Visit:
https://brainly.com/question/29044516
#SPJ4
Which scenario demonstrates a wise use of credit cards?
A. Spencer chooses a credit card with a low interest rate and low
credit limit. He pays off the total charges each month.
B. Stephanie gets as many credit cards as she can. She spreads her
expenses among the cards and makes the minimum payment on
each.
C. Brianna pays off the minimum on her credit card. She leaves the
large balance for when she will make more money.
D. Avery applies for the first credit card offer he receives in the mail.
He saves time because all creditors offer the same terms.
Answer:
A. Spencer chooses a credit card with a low interest rate and low credit limit. He pays off the total charges each month.
Explanation:
Show diagrammaticall the impact of firms profit in short run demand for the product reduces
The impact on the firms profit in the short run would be that : Demand declines will result in lower equilibrium prices and, perhaps, lower firm outputs (in monopolistically competitive industries or monopolies), which would result in lower profits.
How does demand impact the profit of the firm in the short run?The firms Maximizes short-term profits By deciding to produce at the level where its marginal income and cost are equal, a company may optimize its earnings.
When marginal revenue is higher than marginal cost, the business may produce more product and increase profits. The corporation loses money when marginal revenue is lower than marginal cost, thus it must cut back on output to be profitable.
The amount of output the company picks where its marginal revenue and cost are equal to optimize profits.
Read more on firms profit here:https://brainly.com/question/11332009
#SPJ1
a portable concrete test instrument used in construction for evaluating and profiling concrete surfaces (macrs-gds 5-year property class) is under consideration by a construction firm for $26,000. the instrument will be used for 6 years and be worth $2,750 at that time. the annual cost of use and maintenance will be $8,000. alternatively, a more automated instrument (same property class) available from the manufacturer costs $31,500, with use and maintenance costs of only $7,000 and salvage value after 6 years of $4,000. the marginal tax rate is 25%, and marr is an after-tax 12%.
Concrete Polishing Luncheon & Forum. What polished concrete floor contractors need to know about the slip and fall aspects of polished concrete floors.
What does polishing concrete achieve?Using a multi-step technique called concrete polishing, worn-out, aged concrete surfaces can be turned into lovely floors. New concrete floors are also being ground to a high-gloss sheen that doesn't require wax or coatings. Exceptional durability is one of the benefits that polished concrete's non-porous surface and high gloss finish give.
How should concrete be polished?A polished concrete floor that experiences frequent foot activity and weathering typically needs professional care every two to three years. Remember that this period of time is only an estimate and could be extended or shortened depending on how much traffic and weathering are present along the floor surface.
To know more about Concrete Polishing visit :
https://brainly.com/question/27091338
#SPJ4
condensed financial data of windsor, inc. follow. windsor, inc. comparative balance sheets december 31 assets cash accounts receivable inventory prepaid expenses long-term investments plant assets accumulated depreciation total 2022 $116,300 92,700 111,200 29,000 140,900 275,000 (46,800) $718,300 2021 $48,400 33,400 102,100 25.500 113,300 241,100 (52,000) $511,800
Windsor, Inc Statement of Cash Flows
Cash flow from operating activities
Net income $108,206
Adjustments to net income $19,005
$32,550 was spent on depreciation.
losses of $5,250 on asset sales
Pre-paid expenses increased by $1,680.
$24,290 more in accounts payable
Unpaid invoices have accumulated to the tune of $34,860
Growth in inventory ($6,755)
Payments and accumulated expenses decreased by $3,150.
Total cash from operating activities was $123,851.
Money flow from investments
Increased long-term investments of $20,300
spending $70,00 on new factory equipment
Earnings from the sale of assets of $1,050
Total cash flow from operations of investment $89,250
Cash flow resulting from financial activity Common stock publication $31,500
Expendable bonds ($25,200)
paid ($18,221) in dividends
Financing operations' total cash flow was $11,921
Additional cash totaling $22,680
At the end of the year, there were $33.880 in the bank.
The full question was
Condensed financial data of Windsor, Inc. follow. Windsor, Inc. Comparative Balance Sheets December 31 Assets 2022 2021 Cash $56,560 $33,880 Accounts receivable 61,460 26,600 Inventory 78,750 71,995 Prepaid expenses 19,880 18,200 Long-term investments 96,600 76,300 Plant assets 199,500 169,750 Accumulated depreciation (35,000) (36,400) Total $477,750 $360,325Liabilities and Stockholders' Equity Accounts payable $71,400 47,110 Accrued expenses payable 11,550 14,700 Bonds payable 77,000 102,200Common stock 54,000 122,500Retained earnings 1,163,800 73,815Total $477,75 $360,325 Windsor, Inc. Income Statement Data For the Year Ended December 31, 2022 Sales revenue Less: Cost of goods sold $94,822 Operating expenses, excluding depreciation 8,687 Depreciation expense 32,550 Income tax expense 19,096 Interest expense 3,311Loss on disposal of plant assets 5,250 163,716Net income $108,206 Additional information: 1. New plant assets costing $70,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $40,250 and accumulated depreciation of $33,950 were sold for $1,050 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $18,221 was declared and paid during the year. Prepare a statement of cash flows using the indirect method.
Learn more about cash flow here:
https://brainly.com/question/29768594
#SPJ4
heather is the store manager for a national grocery retailer, and she received the yearly tactical plan from sanjay, her district manager. heather is meeting with her department managers to plan how to implement the specific tasks outlined in sanjay's plan for the next year. heather is engaged in operational planning.
TRUE/FALSE
The given statement is true. During the operational planning cycle, financial management or the business obligations are portrayed exhaustively and founded on the timetable for the operational arrangement.
Operational planning makes a nitty gritty guide in view of a key plan.The operational arrangement adjusts timetables, action things and key achievements that finance or the business needs to finish to execute on the well defined course of action. Along these lines, an operational arrangement frames the association's critical targets and objectives and explains how the association will accomplish them.
During the operational planning cycle, financial management or the business obligations are portrayed exhaustively and founded on the timetable for the operational arrangement. The time span ought to rely upon run of the mill hierarchical speed; making a yearly operational arrangement is a liquid, evolving process, so keeping clearness and joint effort is essential for progress.
A thoroughly thought out business operational arrangement keeps colleagues teaming up without a hitch, guarantees everybody understands what should be finished and what their part in it is, and directs basic choices about long-term strategy.
to know more about financial management click here:
https://brainly.com/question/989344
#SPJ4
under the investment advisers act of 1940, it is legal for an investment adviser to rebate the commission on a mutual fund sale to a client who has already paid a fee for investment advice keep the commission on a mutual fund sale when the client who purchased the shares has already paid for investment advice reduce a client's advisory fee by any commissions earned on mutual fund sales to that client
According to investment advisers act, businesses or lone practitioners who are paid to advise people on securities investments must register with the SEC and abide by rules intended to safeguard investors.
The Investment Advisers Act of 1940 is a federal legislation in the United States that governs and specifies an investment adviser's obligations. The legislation establishes the legal framework for regulating persons who advise pension funds, individuals, and organizations on topics of investing. It was inspired, in part, by a 1935 report to Congress on investment trusts and investment corporations written by the Securities and Exchange Commission (SEC). It establishes who must register with local, state, and federal agencies in order to provide financial advice as well as what counts as investment advice. The stock market crash of 1929 and its terrible aftereffect, the Great Depression, served as the initial motivation for the Investment Advisers Act of 1940, as well as for many other important financial legislation of the 1930s and 1940s.
learn more about investment advisers act here:
https://brainly.com/question/14311679
#SPJ4
Which of the following price setting methods considers the price that other providers charge for the same product? a. demand-based method b. cost plus method c. total cost method d. competition based method
The right answer is D. The rate that other suppliers charge for the identical goods is taken into account by the competition-based method.
What are pricing strategies based on competition?Competitor-based pricing, as the name suggests, is a pricing method in which a business determines the price of its products after examining the competition. However, this method just considers the sale price of both the rivals' goods and does not account for starting expenditures.
What are the four competitive advantage factors?Superior efficiency, quality, invention, and customer accountability are the four criteria that assist the business create and maintain a competitive advantage. Each of these elements is the outcome of a company's unique competence.
To know more about Competition based method visit:
https://brainly.com/question/15186111
#SPJ4
monopolistically competitive firms are not productively efficient because output is less than society's optimal level because a producer's .
Monopolistically competitive firms are not productively efficient because output is less than society's optimal level because a producer's average total cost per unit is not at its lowest possible cost.
A monopoly is a market structure where a player is a free seller who dominates the entire market because he provides a completely unique service or product. By comparison, monopolistic competition is a competitive market with only a handful of buyers and sellers who provide close substitutes.
A monopoly is a type of imperfect opposition where a seller or producer captures the general public's market share due to a lack of substitutes or competition. Monopolistic competition is a form of imperfect competition where many sellers try to control a percentage of the market by differentiating their goods.
When the most proficient single firm controls an entire industry—or perhaps a large percentage of that industry—a corporation is said to have a monopoly. historically, monopolies benefit the companies that have them because they can improve costs and reduce services without consequence.
Learn more about Monopolistically here: brainly.com/question/25717627
#SPJ4
The purpose of using control charts is to
Select one:
a. detect the causes of non-conformities
b. None of the above
c. determine if a process is performing within specifications
d. evaluate process performance over time
e. determine how to recreate the process
The purpose of using control charts is to evaluate process performance over time (d). Control charts are used to monitor the output of a process over time and detect any significant changes or deviations from the expected performance. This allows managers to identify potential problems with the process and take corrective action as needed to keep the process operating within specifications. Control charts are not typically used to detect the causes of non-conformities or to determine how to recreate a process.
Understanding net free cash flow is necessary to a. make better...
Understanding net free cash flow is necessary to
a. make better negotiation decisions
b. help to allocate resources
c. help to determine whether or not to keep a customer
d. none of the above are correct
e. all of the above are correct
The assertion claims that knowing net operating cash flow is essential for aiding in resource allocation.
What does the word "customer" actually mean?An individual or company that purchases products and services from another company is known as a customer. Customers are essential for they bring in money. Organizations would no longer exist without them.
Customer service is defined as:Customer care is the assistance you provide to your clients to make their interactions with you simple & joyful, both when and when they purchase and utilize your goods or services. If you want to keep clients and expand your business, you should provide outstanding customer service.
To know more about Customer visit:
https://brainly.com/question/14801632
#SPJ4
i would like to take a vacation at the end of this month; however, it is a busy time of year at our office. i would like to take a vacation at the end of this month, however it is a busy time of year at our office. i would like to take a vacation at the end of this month: however, it is a busy time of year at our office.
I would like to take a vacation at the end of this month; however, it is a busy time of year at our office. A) Use a semicolon to separate items in a series when one or more of the items containing internal commas is depicted in the mentioned sentence. As Semicolons are best used between two independent clauses.
A holiday (American English) or excursion (British English) is either a depart of absence from a regular process or an example of enjoyment travel faraway from domestic. human beings frequently take a vacation at some stage in particular holiday observances or for particular fairs or celebrations. vacations are regularly spent with buddies or own family.[1] vacations may consist of a particular experience or adventure, usually for the motive of endeavor or tourism. a person might also take an extended destroy from work, together with a sabbatical, gap yr, or professional damage. The concept of taking a holiday is the latest invention and has advanced thru the closing centuries.
Learn more about vacation here
https://brainly.com/question/4457645
#SPJ4
sunland photography reported net income of $96,000 for 2022. included in the income statement were depreciation expense of $6,900, patent amortization expense of $3,800, and a gain on disposal of plant assets of $3,700. sunland's comparative balance sheets show the following balances. accounts receivable accounts pavable 12/31/22 $20,400 8,300 12/31/21 $25,100 5,600 Calculate net cash provided by operating activities for Novak Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Calculate net cash provided by operating activities for Novak Photography. (Show amounts that decrease cash flow with either a sign e.g.-15,000 or in parenthesis e.s. (15,000).) Novak Photography Statement of Cash Flows For the Year Ended December 31, 2022 Cash Flows from Operating Activities Net Income Adjustments to reconcile net income to Net Cash Provided by Operating Activities Depreciation Expense Patent Amortization Expense Gain on Disposal of Plant Assets Decrease in Accounts Receivable : 5000 Increase in Accounts Receivable $ Net Cash Provided by Operating Activities
The net cash provided by operating activities of Sunland photography is equal to $97200.
To calculate the net cash provided by operating activities for Sunland Photography for the year ended December 31, 2022, you need to start with the net income of $96,000 and make adjustments to reconcile the net income to net cash provided by operating activities. The adjustments include adding back depreciation expense of $6,900, patent amortization expense of $3,800, and subtracting the gain on disposal of plant assets of $3,700. Additionally, you need to consider the changes in accounts receivable and accounts payable during the year.
The net cash provided by operating activities for Sunland Photography for the year ended December 31, 2022 can be calculated as follows:
Net Income $96,000
Depreciation Expense $6,900
Patent Amortization Expense $3,800
Gain on Disposal of Plant Assets $3,700
Decrease in Accounts Receivable $(5,100)
Increase in Accounts Payable $2,700
= Net Cash Provided by Operating Activities $97,200
Learn more about Depreciation at:
brainly.com/question/1203926
#SPJ4
matisse co. reported total revenues of $100,000 and total expenses of $90,000. the net profit margin is: multiple choice $10,000 10% 11% 111%
The net profit margin for matisse co is 10%.
Net profit is determined by subtracting all business costs from net income. A percentage is the outcome of the profit margin computation; for instance, a 10% profit margin indicates that for every $1 in revenue, the company makes $0.10 in net profit. Revenue is a period's value of the company's entire sales.
One of the most essential measures of a business's financial health is its net profit margin. A business can determine whether its existing procedures are effective and estimate earnings based on revenues by monitoring growth and reductions in its net profit margin.
Net profit margin= Net profit/Revenue
Net profit=Revenue-expenses
Net profit=$100,000-$90,000
Net profit=$10,000
Net profit margin=$10,000/$100,000=10%
Therefore, the net profit margin is 10%.
To learn more about net profit margin refer here
https://brainly.com/question/16788690#
#SPJ4
On December 31, 20X5, Pluto Company acquired 100 percent of Saturn Corporation's common stock for $300,000. Balance sheet information for Saturn just prior to the acquisition is given here: Cash and Receivables Inventory Land Buildings and Equipment (net) Total Assets Accounts Payable Bonds Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $ 35,000 75,000 100,000 220,000 S 430,000 $65,000 150,000 100,000 115,000 $ 430,000 At the date of the business combination, Saturn's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, land which had a fair value of $125,000, and buildings and equipment (net), which had a fair value of $250,000.
Based on the information provided, the amount of inventory which will be included in the consolidated balance sheet immediately following the acquisition is $60,000.
A balance sheet is a summary of the financial position of a person or organization in financial accounting, whether it is a sole proprietorship, business partnership, corporation, limited liability company, etc. partnership or another type of organization such as a government or nonprofit organization.
From a specific date, such as the end of a financial year, assets, liabilities and equity are mentioned. The balance sheet is often thought of as a "picture of a company's financial health". The balance sheet is one of the four basic financial statements that apply only to a certain period of time in a company's financial year.
Hence the correct option is A
The above question is incomplete, the complete question is-
On December 31, 20X9, Pluto Company acquired 100 percent of Saturn Corporation's common stock for $300,000. Balance sheet information for Saturn just prior to the acquisition is given here:
Cash & Receivables $35,000
Inventory 75,000
Land 100,000
Buildings & Equip (net) 220,000
Total Assets $430,000
Accounts Payable $65,000
Bonds Payable 150,000
Common Stock 100,000
Retained Earnings 115,000
Total Liabilities & SE $430,000
At the date of the business combination, Saturn's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, land which had a fair value of $125,000, and buildings and equipment (net), which had a fair value of $250,000.
Based on the information provided, what amount of inventory will be included in the consolidated balance sheet immediately following the acquisition?
A) $60,000
B) $75,000
C) $15,000
D) $45,000
To know more about Balance sheet here-
https://brainly.com/question/26323001
#SPJ4
josh drove to a restaurant and handed his car keys to the valet at the entrance. after dinner, josh learned that the valet accidentally left the car unlocked and the car was stolen. in the context of bailment relationships, the restaurant is most likely
Unless it can demonstrate that the valet operated with reasonable care, the restaurant is likely to be responsible as a bailee, according to the statement.
Why does a restaurant succeed?Some of the essential aspects of successful restaurants include a strong sense of brand identity, hiring and motivating staff, creating a positive work environment, becoming intimately acquainted with loss and profit statements, developing a menu that is profitable, and acquiring knowledge how to market your strongest dishes.
Why are restaurants crucial?It fosters a sense of community and togetherness. Every town has a few eateries that everyone is familiar with. They are familiar with the location as well as the owners and employees. In some senses, the restaurant is made by the sense of belonging it fosters.
To know more about Restaurant visit:
https://brainly.com/question/27316334
#SPJ4
whichof het following procedures is not usually performed by the accountant during a review engagement of a nonissuer in accordance with statements on standards for accounting and review services
In accordance with the statements on standards for accounting and review services, the accountant's communication of any material deficiencies found while considering internal control is the one procedure that is typically skipped. Hence, Option D is correct.
Accounting standards can be any type of statement that contains laws and regulations established by accounting organisations for the preparation of uniform and consistent financial accounts.
Disclosures that the various users of accounting information are also calling for are included below. A set of procedures and guidelines known as an accounting standard is utilised by various businesses and throughout time to systematically perform bookkeeping and other accounting activities.
Small and medium enterprises frequently adhere to less stringent criteria and make any additional disclosures that may be necessary to satisfy their particular shareholders and lenders.
Therefore, Option D is correct.
Learn more about accounting standards from here:
https://brainly.com/question/28592953
#SPJ4
The complete question has been attached in text form:
Which of the following procedures is not usually performed by the accountant during a review engagement of a nonissuer in accordance with statements on standards for accounting and review services.
A. Inquiring about actions taken at meetings of the board of directors that may affect the financial statements.
B. Issuing a report stating that the review was performed in accordance with standards established by the AICPA.
C. Reading the financial statements to consider whether they conform with generally accepted accounting principles.
D. Communicating any material weaknesses discovered during the consideration of internal control.
which of the following is a drawback of a sole proprietorship, sp? group of answer choices ownership and control by a single person none of the above ease of setup and liquidation unlimited life of the sp company owner
All the given statements of sole proprietorship is true.
So correct answer is option B.
The sole proprietorship is the most basic legal form of business organisation. Businesses run by one individual are not considered legal entities. It designates one individual as the business's sole proprietor and the only person responsible for paying off any obligations. A sole proprietorship may conduct business under its owner's name or a made-up name, such as Nancy's Nail Salon. The fake name is only used as a trade name by the only proprietor owner. It doesn't produce any additional legal entities.
The sole proprietorship is a well-known business structure due to its simplicity, ease of formation, and low cost. A sole proprietor just needs to register their name and acquire the required local licences in order to launch a firm.
Learn more about sole proprietorship at
https://brainly.com/question/9566920?referrer=searchResults
#SPJ4
which of the following statements about strategic planning are true? (choose every correct answer.) multiple select question. it focuses primarily on the organization's short-term goals. it requires visionary and directional thinking. it should be done approximately every ten years. it should communicate general goals and ways to achieve them.
Option (b) is correct. It requires visionary and directional thinking to implement strategic planning.
To create a specific business strategy strategic planning is used. It is used in implementing and evaluating the results of executing the plan. It is a concept that focuses on integrating various departments such as accounting and finance, marketing, and human resources within a company to accomplish its strategic goals. The term strategic planning is essentially synonymous with strategic management. The strategic planning process requires considerable thought and planning on the part of a company’s upper level management. Before settling on a plan of action and then determining how to strategically implement it executives may consider many possible options.
To learn more about strategic planning please visit:
https://brainly.com/question/17924318
#SPJ4
the university administration would like to add some additional parking locations. to make everyone happy, they would like each building to be within a 5 minute walk of one set of new parking spaces (the spaces will be added in blocks of 10 parking spaces). the university is considering six locations for the new parking spaces, but would like to minimize the overall cost of the project. in addition to the walking time requirement, the university would like to add at least 40 new parking spaces (at least 4 blocks of 10). to help with the decision, the management science department formulated the following linear programming model: Min 400x1 + 375x2 + 425x3 + 350x4 +410x5 + 500x6s.t. x1 + x2 + x5 + x6 ≥ 1 {Residence Hall A constraint}x1 + x2 + x3 ≥ 1 {Residence Hall B constraint}x4 + x5 + x6 ≥ 1 {Science building constraint}x1 + x4 + x5 ≥ 1 {Music building constraint}x2 + x3 + x4 ≥ 1 {Math building constraint}x3 + x4 + x5 ≥ 1 {Business building constraint}x2 + x5 + x6 ≥ 1 {Auditorium constraint}x1 + x4 + x6 ≥ 1 {Arena constraint}x1 + x2 + x3 + x4 + x5 + x6 ≥ 4 {Total locations constraint}xj={1, if location j is selected 0, otherwisexj=1, if location j is selected 0, otherwise Which of the locations is the most expensive
The most expensive location of the six proposed locations is location 6. This is because the linear programming model has a coefficient of 500 for location 6, which is the highest coefficient of the six proposed locations.
This means that location 6 will add the most of cost to the total project cost, if it is selected. It is important to note that it does not necessarily mean that location 6 is the best option for the university. The linear programming model is only taking into account the cost of the locations, and not the other criteria, such as the walking time requirement, that the university would like to satisfy. In addition, if a different location would satisfy the requirements of the university better, then it may be more beneficial for the university to choose that location even if it is more expensive.
To know more about linear programming click here
https://brainly.com/question/29405467
#SPJ4
- a common practice of firms is to use private warehousing for storing most of their inventory, they use public warehousing temporarly if there is not enough space in the private warehouse
It is false that businesses use their own warehouses to store most of their inventory. If there is a shortage of private warehouses, temporarily use public warehouses
What is Private warehouse and their types?They are usually privately owned by large retailers to store excess inventory together, especially during peak seasons. Private storage requires a large investment from the owner. However, it is likely to prove very cost-effective in the long run. Examples of warehouses: rented out by retailers to store goods, used by producers close to where they work, and owned or rented by wholesalers that store or evict inventory.
Types of private warehouse: Distribution center. Select warehouse, pack and ship. smart warehouse. Refrigerate. Storage on demand. Customer warehouse.
Who uses private warehouse?They are owned and controlled by channel suppliers (manufacturers/distributors) and resellers and are used solely for their own sales activities.
To learn more about warehousing visit:
https://brainly.com/question/29509129
#SPJ4
orleans co., a cash-basis taxpayer, prepares accrual-basis financial statements. since year 1, orleans has applied fasb asc 740 - income taxes. in its year 3 balance sheet, orleans' deferred income- tax liabilities increased compared to year 2. which of the following changes would cause this increase in deferred income tax liabilities? i. an increase in pre-paid insurance. ii. an increase in rent receivable. iii. an increase in warranty obligations. i only. i and ii. ii and iii. iii only.
i and ii cause this increase in deferred income tax liabilities.
A profits tax is a tax imposed on people or entities in respect of the income or profits earned by means of them. income tax generally is computed because the fabricated from a tax price instances the taxable earnings. Taxation fees might also range via kind or characteristics of the taxpayer and the sort of income.
The time period “income tax” refers to a form of tax that governments impose on profits generated by corporations and people inside their jurisdiction. by means of law, taxpayers need to record an income tax return yearly to determine their tax responsibilities.
Learn more about income tax here:https://brainly.com/question/26316390
#SPJ4
morgan (age 45) is single and provides more than 50% of the support of tammy (a family friend), jen (a niece, age 18), and jerold (a nephew, age 18). both tammy and jen live with morgan, but jerold (a french citizen) lives in canada. morgan earns a salary of $95,000, contributes $5,000 to a traditional ira, and receives sales proceeds of $15,000 for an rv that cost $60,000 and was used for vacations. she has $8,200 in itemized deductions.
Morgan's taxable income is $71,350 and Morgan's dependent tax credit is $1000.
Taxable income refers to the bottom upon that associate taxation system imposes tax. In alternative words, the financial gain over that the govt obligatory tax. Generally, it includes some or all things of financial gain and is reduced by expenses and alternative deductions.
Itemized deductions embody amounts you procured state and native financial gain or sales taxes, land taxes, personal estate taxes, mortgage interest, and disaster losses. you will additionally embody gifts to charity and a part of the quantity you procured medical and dental expenses.
The question is incomplete, find the complete question here
morgan (age 45) is single and provides more than 50% of the support of tammy (a family friend), jen (a niece, age 18), and jerold (a nephew, age 18). both tammy and jen live with morgan, but jerold (a french citizen) lives in canada. morgan earns a salary of $95,000, contributes $5,000 to a traditional ira, and receives sales proceeds of $15,000 for an rv that cost $60,000 and was used for vacations. she has $8,200 in itemized deductions.
a. Morgan's taxable income is
b.Compute Morgan's dependent tax credit.
To learn more about taxable income here
brainly.com/question/17961582
#SPJ4