Answer:
Explanation:
Petty cash $2,050
Cash $2,050
Merchandise inventory $160
Postage Expense $589
Misc. expenses $440
Credit:
Cash over and short $7
Cash
Petty Cash $350
Cash $350
(2400-2050)
In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at $6, (2) 470 units at $8, and (3) 570 units at $9. Assuming there are 270 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Wildhorse Co. uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount
Answer:
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620
Explanation:
First determine the units sold
Units Sold = Total Purchases - Units in hand
= 1,410 units - 270 units
= 1,140
Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.
FIFO
Means First in First Out
Cost of the ending inventory = 270 x $9.00 = $2,430
LIFO
Means Last in First Out
Cost of the ending inventory = 270 x $6.00 = $1,620
Conclusion
The cost of the ending inventory under FIFO is $2,430 and under LIFO is $1,620
On Dec 31, an entity had a reporting unit that had a book value of $3,450,000, including goodwill of $225,000. As part of its annual review of good will impairment, the entity determined that the fair value of the reporting unit was $3,310,000. The entity assigned $3,170,000 of the reporting units fair value to its assets and liabilities other than goodwill. What is the goodwill impairment loss to be reported on Dec 31 under current US GAAP
Answer:
$85,000
Explanation:
Calculation for the goodwill impairment loss to be reported on Dec 31 under current US GAAP
First step is to calculate the Goodwill implied fair value
Goodwill implied fair value=($3,310,000-$3,170,000)
Goodwill implied fair value=$140,000
Now let calculate the Impairment loss using this formula
Impairment loss = Goodwill implied fair value - Goodwill book value
Let plug in the formula
Impairment loss= $140,000 - $225,000
Impairment loss = $85,000
Therefore the goodwill impairment loss to be reported on Dec 31 under current US GAAP is $85,000
Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31, 2019, the first month of operations, is shown below. End-of-the-month adjustments must account for the following items: Supplies were purchased on January 1, 2019; inventory of supplies on January 31, 2019, is $1,600. The prepaid advertising contract was signed on January 1, 2019, and covers a four-month period. Rent of $2,100 expired during the month. Depreciation is computed using the straight-line method. The equipment has an estimated useful life of 10 years with no salvage value. Required: Complete the worksheet for the month. Prepare an income statement, statement of owner’s equity, and balance sheet. No additional investments were made by the owner during the month. Journalize and post the adjusting entries. Analyze: If the adjusting entries had not been made for the month, would net income be overstated or understated?
Question Completion:
Judge Creative Designs
Trial Balance as of January 31, 2019:
Account Titles Debit Credit
Cash $34,900
Accounts receivable 12,000
Supplies 6,550
Prepaid Advertising 6,000
Prepaid Rent 15,600
Equipment 40,800
Accumulated Depreciation 0
Accounts Payable 14,950
Capital account 59,400
Drawing account 6,400
Fees Income 58,100
Advertising Expense
Depreciation
Expense- Equipment
Rent Expense
Salaries Expense 9,100
Supplies Expense
Utilities Expense 1,100
Totals $132,450 $132,450
Answer:
Judge Creative Designs:
1. Adjusted Trial Balance as of January 31, 2019:
Judge Creative Designs
Trial Balance as of January 31, 2019:
Account Titles Debit Credit
Cash $34,900
Accounts receivable 12,000
Supplies 1,600
Prepaid Advertising 4,500
Prepaid Rent 13,500
Equipment 40,800
Accumulated Depreciation $340
Accounts Payable 14,950
Capital account 59,400
Drawing account 6,400
Fees Income 58,100
Advertising Expense 1,500
Depreciation
Expense- Equipment 340
Rent Expense 2,100
Salaries Expense 9,100
Supplies Expense 4,950
Utilities Expense 1,100
Totals $132,790 $132,790
2. Income Statement for the month ended January 31, 2019:
Fees Income $58,100
Advertising Expense $1,500
Depreciation
Expense- Equipment 340
Rent Expense 2,100
Salaries Expense 9,100
Supplies Expense 4,950
Utilities Expense 1,100
Total expenses 19,090
Net income $39,010
3. Statement of Owners' Equity for the month ended January 31, 2019:
Capital account $59,400
Net income 39,010
Drawing account (6,400)
Equity balance $92,010
4. Balance Sheet as of January 31, 2019:
Assets:
Cash $34,900
Accounts receivable 12,000
Supplies 1,600
Prepaid Advertising 4,500
Prepaid Rent 13,500
Equipment 40,800
Accumulated Depreciation (340)
Total assets $106,960
Liabilities + Equity:
Accounts Payable $14,950
Capital account 92,010
Total liabilities and equity $106,960
5. Adjusting Journal Entries:
1. Debit Supplies Expense $4,950
Credit Supplies $4,950
To record the supplies expense.
2. Debit Advertising Expense $1,500
Credit Prepaid Advertising $1,500
To record the advertising expense.
3. Debit Rent Expense $2,100
Credit Prepaid Rent $2,100
To record rent expense for the month.
4. Debit Depreciation Expense $340
Credit Accumulated Depreciation $340
To record depreciation expense for the month.
6. Total adjusting expenses = $8,890. The net income would have been overstated by $8,890.
Explanation:
a) Data and Adjustments:
1. Supplies Expense $4,950 Supplies $4,950 ($6,550 - $1,600) Balance $1,600
2. Advertising Expense $1,500 Prepaid Advertising $1,500 ($6,000/4) Balance $4,500
3. Rent Expense $2,100 Prepaid Rent $2,100 Balance $13,500 ($15,600 - $2,100)
4. Depreciation Expense $340 Accumulated Depreciation $340 ($40,800 * 10% * 1/12)
Read the overview below and complete the activities that follow.
Marketers have access to a wide range of online research tools that can help enable the collection of data related to a specific market research effort. This activity is important because marketing managers must be able to understand how to leverage different types of online research tools in order to efficiently and effectively address the research problem as it has been defined. The goal of this exercise is to demonstrate your understanding of each of the different categories of online research tools that can be used in the context of a specific research context. Online research tools fall into three categories: databases, focus groups, and sampling. Each of these three categories offers unique opportunities to expand the reach and usefulness of market research. Hover over each individual item to read about the specific research problem faced by a given marketing manager, as well as any other relevant considerations provided. Then, drag the item to the online research tool category that would best serve the related marketing manager's needs.
1. Sarah
2. Diana
3. John
A. Online (Cloud) Databases
B. Online Focus Groups
C. Online Sampling
Answer:
1. Sarah - Online Focus Groups
2. Diana - Online Sampling
3. John - Online (Cloud) Databases
Explanation:
Marketing research is an important aspect for any business. The type of research tools used for any marketing strategy depends on the multiple factors like, type of product, target market and customer need. In the given scenario Sarah should go for Online focus group research, Diana should go for Online sampling and John should go for Online Cloud Databases.
Name one thing you're afraid of when you think of college and career.
Answer:
finances
Explanation:
College is expensive and people that go to college have an expectation of landing a great paying job. Reality is that is not always the case. Often leading to a long time of paying of student debts.
define securitization.
Answer:
its like getting security for ut business or office
This magazine is not useful for/to me as I have ni taste in music debates. To or for?
Answer:
For
Explanation:
Use “to” when the reason or purpose is a verb. Use “for” when the reason or purpose is a noun.
Hope this helps! <3
Which of the following statements describes the cost of capital?
A. The interest rate the bank charges its best customers.
B. The internal rate of return on investments.
C. The maximum acceptable rate of return on investments.
D. The minimum rate of return on investments.
Answer: The minimum rate of return on investments.
Explanation:
The cost of capital simply refers to the particular rate of return that a certain company expects to get from a certain investment that it does.
The cost of capital is the minimum rate of return which must be earned by a certain business before the generation of value.
The cost of capital therefore is the minimum rate of return on investments. It is the return which a company is expected to pay both the creditors and also the investors.
at the best answer for the question
The selling of goods and/or services to a customer is called
A.Service Industry
B.Food Service
C.Purchasing
D.Retail
Answer:
The correct answer is D. Retail.
Explanation:
Retail is the sale to the final consumer of goods and services. It is a sector formed by different branches (such as the food industry, the fashion industry, the home industry, etc.), which constitutes the last link in the supply chain that goes from the manufacturer to the consumer, it is In other words, it is the culmination of the process of production of goods and services, when they reach the consumer. This sale is usually carried out in stores, supermarkets, pharmacies, internet platforms and any other place where goods and services can be offered to final recipients.
the model used to describe the flow of economics activity in the free market is a
Answer:
Flow chart or a flow model. I don't remember which it was
The management of Nova Industries Inc. manufactures gasoline and diesel engines through two production departments, Fabrication and Assembly. Management needs accurate product cost information in order to guide product strategy. Presently, the company uses a single plantwide factory overhead rate for allocating factory overhead to the two products. However, management is considering the multiple production department factory overhead rate method. The following factory overhead was budgeted for Nova:
Fabrication Department factory overhead........................................................$440,000
Assembly Department factory overhead............................................................200,000
Total.........................................................................................................................$640,000
Direct labor hours were estimated as follows:______.
Fabrication Department................................................................4,000 hours
Assembly Department....................................................................4,000
Total..................................................................................................8,000 hours
In addition, the direct labor hours (dlh) used to produce a unit of each product in each
department were determined from engineering records, as follows:_______.
Production Departments Gasoline Engine Diesel Engine
Fabrication Department 6.0 dlh 4.0 dlh
Assembly Department 4.0 6.0
Direct labor hours per unit 10.0 dlh 10.0 dlh
a. Determine the per-unit factory overhead allocated to the gasoline and diesel engines under the single plantwide factory overhead rate method, using direct labor hours as the activity base.
b. Determine the per-unit factory overhead allocated to the gasoline and diesel engines under the multiple production department factory overhead rate method, using direct labor hours as the activity base for each department.
c. Recommend to management a product costing approach, based on your analyses in (a) and (b). Support your recommendation.
Answer:
Nova Industries Inc.
Factory Overhead allocated:
a. Under the single plantwide factory overhead cost per direct hours:
Overhead allocated to Gasoline Engine Diesel Engine
Direct labor hours (10 each) $800 $800
b. Under the multiple production department factory overhead rate method:
Overhead allocated to Gasoline Engine Diesel Engine
Total overhead allocated $860 $740
c. The multiple production department overhead rate method is recommended. It takes into account the activity usage by each department and looks fairer.
Explanation:
a) Data and Calculations:
factory overhead was budgeted for Nova:
Fabrication Department factory overhead $440,000
Assembly Department factory overhead 200,000
Total $640,000
Direct labor hours were estimated as follows:______.
Fabrication Department 4,000 hours
Assembly Department 4,000 hours
Total 8,000 hours
In addition, the direct labor hours (dlh) used to produce a unit of each product in each department were determined from engineering records, as follows:_______.
Production Departments Gasoline Engine Diesel Engine
Fabrication Department 6.0 dlh 4.0 dlh
Assembly Department 4.0 6.0
Direct labor hours per unit 10.0 dlh 10.0 dlh
Plantwide per unit factory overhead = Total overhead costs/Total direct labor hours
= $640,000/8,000 = $80
a. Overhead allocated to Gasoline Engine Diesel Engine
Direct labor hours (10 each) $800 ($80 * 10) $800 ($80 * 10)
Multiple production department per unit factory overhead:
Fabrication Department factory overhead $440,000/4,000 = $110
Assembly Department factory overhead 200,000/4,000 = $50
b. Overhead allocated to Gasoline Engine Diesel Engine
Fabrication Department $660 (6.0 * $110) $440 (4.0 * $110)
Assembly Department 200 (4.0 * $50) 300 (6.0 * $50)
Total overhead allocated $860 $740
Following are the solution to the given points:
For point a:
[tex]\text{Plantwide overhead rate} = \frac{\text{Total factory overhead}}{\text{Total direct labor hours}}[/tex]
[tex] = \frac{\$560,000}{ 8,000}\\\\= \$70 \ / DLH [/tex]
Calculating the value of gasoline engine[tex]= (4 \times \$70)=\$280\ / unit [/tex]
Calculating the value of diesel engine[tex]= (4 \times \$70)= \$280 / unit[/tex]
For point b:
Calculating the value of gasoline engine:
[tex]=[(1.20\times 100) + (2.80 \times \$40)] \\\\ =\$232 / unit [/tex]
Calculating the value of diesel engines:
[tex]=[(2.80\times \$100) + (1.20 \times \$40)]\\\\ =\$328 / unit [/tex]
Calculating the value of departmental overhead rate:
Calculating the value of fabrication:
[tex]= (\frac{\$400,000}{ 4,000}) \\\\ = \$100 / DLH [/tex]
Calculating the value of assembly:
[tex] = (\frac{\$160,000}{ 4,000}) \\\\ = \$40 / DLH[/tex]
For point c:
The Multiple department factory overhead rate method of allocating overhead costs should be chosen by management. Per the Single plantwide factory overhead rate technique, both items have the same manufacturing cost per unit. The direct work hours are now used differently with each product. Hence, by accounting for overhead in every production department independently, this multiple department price method avoids cost distortions.Learn more:
brainly.com/question/16711117
Drivers must stop at red lights so that they do not get in car accidents. This is an example of
how rules create order.
a code of ethics.
O a mission statement.
O how rules are overreaching.
Answer:
A - How rules create order
Explanation:
Answer:
how rules create order
Explanation:
A for-profit institution that works with the general public to open and manage
savings accounts is known as a(n).
A. commercial bank
B. savings bank
C. credit union
D. investment bank
Answer:
B. savings bank
Explanation:
Savings bank is defined as a bank which helps customers or people to invest or deposit in interest giving accounts that will give a long term investment.
Savings bank were started in Europe in the 19th century. Saving banks gives interest on the deposit amount that is why its is a for-profit institution for general public. The interest saving banks give by investing in government and corporate debt.
Hence, the correct answer is "B. savings bank".
Madison Foods Corp. is frustrated in its efforts to sell products in Europe because several countries are demanding that the company label products in the specific language associated with the country. These demands are examples of a Multiple Choice trade obstacle. trademark. trade role. trade name.
Answer: Trade obstacle
Explanation:
From the information given, we can infer that the demands are examples of trade obstacle.
Trade obstacles refers to the barriers which hinder a trade or the restrictions on an international trade. Trade obstacles can be tariffs or other non-tariff methods. Trade obstacles lead to difficulties in the sale of a product to other countries.
The demand are example of Trade obstacle
What is a Trade obstacle?It means the barriers that should be hindered with respect to the trade or the restrictions that should be on international trade. It could be tariffs or it can be non-tariff methods. It result in difficulties for selling the product to the other countries.
Learn more about demand here: https://brainly.com/question/24741453
A small business company is considering updating the current production line. There are two plans. For plan A, the fixed cost will be $40,000 and the variable cost will be $27 per unit after the update. For plan B, the fixed costs will be $54,000 and the variable cost will be $26 per unit after the update. Please answer the following questions: (a) Suppose the selling price is $35, what is the break-even volume for each plan
Answer:
Results are below.
Explanation:
Giving the following information:
Plan A:
Fixed costs= $40,000
Unitary varaible cost= $27
Plan B:
Fixed costs= $54,000
Unitary varaible cost= $26
Selling price per unit= $35
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Plan A:
Break-even point in units= 40,000 / (35 - 27)
Break-even point in units= 5,000
Plan B:
Break-even point in units= 54,000 / (35 - 26)
Break-even point in units= 6,000
Pls help me with the graph , the choices are below
the answer to your question is graph 1
n many countries, one of the roles of the central bank is to provide loans to distressed financial institutions. What is the term for this? lender of last resort source of ultimate credit provider of fiduciary insurance liquidity resource bailout bank Another potential role of central banks is to foster confidence in the banking system by making sure that people can retrieve their money even if a bank goes bankrupt. What is the term for this? deposit guarantee banking promise deposit insurance financially distressed institution clause
Answer:
In many countries, one of the roles of the central bank is to provide loans to distressed financial institutions. What is the term for this?
The term is called:
lender of last resort.
Another potential role of central banks is to foster confidence in the banking system by making sure that people can retrieve their money even if a bank goes bankrupt. What is the term for this?
The term is called:
deposit insurance.
Explanation:
Central banks play important roles in the economy. They conduct the economy's monetary policy, regulate other banks, and provide various other financial services, including economic research. They stabilize the nation's currency by ensuring that unemployment is kept low and also prevent economic fluctuations.
Pacheco Inc. issued convertible bonds 10 years ago. Each bond had an initial term of 30 years, had a face value of $1,000, paid a coupon rate of 11%, and was convertible into 20 shares of Pacheco stock, which was selling for $30 per share at the time. Since then the price of Pacheco shares has risen to $65 and the interest rate has dropped to 8%. What is the least that each of the bonds is worth today
Answer:
$1,296.90
Explanation:
Calculation for What is the least that each of the bonds is worth today
First step is to calculate the stock each bond worth
Stock each bond worth=20 shares ×$65
Stock each bond worth= $1,300
Second step is to calculate what the bond is each worth using this formula
PV= PMT[PVFAk,n] + FV[PVFk,n]
Let plug in the formula
PV= $55[PVFA4,40] + $1,000[PVF4,40]
PV= $55(19.7928) + $1,000(.2083)
PV= $1,088.60 + $208.30
PV= $1,296.90
Therefore Based on the above calculation the least that each of the bonds is worth today is $1,296.90
Sandhill Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,500 Allowance for Doubtful Accounts $3,970 Sales Revenue (all on credit) 838,100 Sales Returns and Allowances 50,780 Prepare the journal entry to record bad debt expense assuming Sandhill Company estimates bad debts at (a) 5% of accounts receivable and (b) 5% of accounts receivable but Allowance for Doubtful Accounts had a $1,630 debit balance. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answer:
S/n Accounts title Debit Credit
a. Bad Debt expenses $2,655
Allowance for Doubtful debts $2,655
((132,500*5%)-3,970)
(Being bad debt expense recorded)
b. Bad Debt expenses $8,255
Allowance for Doubtful debts $8,255
{(132,500*5%)+1,630]
(Being bad debt expense recorded)
In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction. (Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)
a. Ted paid $30 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.
Deductible for AGI $
Deductible from AGI $
Not deductible $
b. Tyler paid $154 for minor repairs to the fence at a rental house he owned.
Deductible for AGI $
Deductible from AGI $
Not deductible $
c. Timmy paid $775 for health insurance premiums this year. Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.
Deductible for AGI $
Deductible from AGI $
Not deductible $
d. Tess paid $1,880 of state income taxes on her consulting income.
Answer:
a. Ted paid $30 rent on a safety deposit box at the bank. In this box he kept the few shares of stock that he owned.
Not deductibleIs not a business expense nor it can be itemized.
b. Tyler paid $154 for minor repairs to the fence at a rental house he owned.
Deductible for AGIRepairs and maintenance expenses of rental property decrease your AGI.
c. Timmy paid $775 for health insurance premiums this year. Timmy is employed full-time and his employer paid the remaining premiums as a qualified fringe benefit.
Not deductibleIf Timmy's medical expenses were more than 10% of your AGI, then you can deduct the difference. But I doubt Timmy earns less than $7,750.
d. Tess paid $1,880 of state income taxes on her consulting income.
Deductible from AGIIf you itemize deductions, you can deduct up to $10,000 in state or local taxes.
The BX11160 company has provided its contribution format income statement for a given month. Sales (8,000 units) $ 440,000 Variable expenses 280,000 Contribution margin 160,000 Fixed expenses 103,500 Net operating income $ 56,500 If the BX11160 company sells 7,900 units next month, how much would its net operating income expected to be next month? (Do not round intermediate calculations.)
Answer:
Net operating income= $48,500
Explanation:
First, we need to calculate the unitary contribution margin:
Unitary contribution margin= 160,000 / 8,000
unitary contribution margin= $20
Now, the net income for 7,600 units:
Contribution margin= 7,600*20= 152,000
Fixed expenses= (103,500)
Net operating income= $48,500
University Printing Services offer a program of reproducing class notes for participating professors teaching large classes with an enrollment uniformly distributed between 200 and 300 students. Professor Pulat has subscribed to this program. A copy of her notes costs $8 to produce and it sells for $12. The students purchase their books at the start of the semester. Any unsold notes are shredded for recycling as she makes changes to her notes every semester. In the meantime, when all copies are sold, no additional copies are printed. If the University Printing Services wants to maximize its revenues, how many copies should it print
Answer:
233 copies
Explanation:
Cost of shortage (Cs)= Revenue per unit - Cost per unit
Cost of shortage (Cs) = $12 - $8
Cost of shortage (Cs) = $4
Cost of excess (Ce) = Original cost per unit - Salvage value per unit
Cost of excess (Ce) = $8 - $0
Cost of excess (Ce) = $8
Service Level (SL) = Cs/(Cs+Ce)
Service Level (SL) = $4 / ($4+$8)
Service Level (SL) = $4/$12
Service Level (SL) = 0.33
Optimum Level = Minimum student + SL*(Maximum student - Minimum student)
Optimum Level = 200 + 0.33*(300 - 200)
Optimum Level = 200 + 33
Optimum Level = 233 copies
Mazzeo Co. provided the following information on selected transactions during 2017: Purchase of land by issuing bonds $650,000 Proceeds from issuing stock 520,000 Purchases of inventory 950,000 Purchases of treasury stock 350,000 Loans made to affiliated corporations 175,000 Dividends paid to preferred stockholders 100,000 Proceeds from issuing preferred stock 210,000 Proceeds from sale of land 325,000 The net cash provided (used) by investing activities during 2017 is
Answer:
$150,000
Explanation:
Calculation to determine what The net cash provided (used) by investing activities during 2017 is
Using this formula
The net cash provided (used) by investing activities during 2017 =Proceeds from sale of land -Loans made to affiliated corporations,
Let plug in the formula
The net cash provided (used) by investing activities during 2017=$325,000-$175,000
The net cash provided (used) by investing activities during 2017= $150,000
Therefore The net cash provided (used) by investing activities during 2017 is $150,000
why do you think the government should regulate advertising
Answer:
Advertising control prevents businesses from presenting false information, placing billboards in illegal locations and other prohibited actions. If a business does not follow the advertising regulations set by the government, it could face a civil suit.
Kenwood Homes, Inc., allows employees to purchase, at cost, manufacturing materials, such as metal and lumber, for personal use. To purchase materials for personal use, an employee must complete a materials requisition form, which must then be approved by the employee's immediate supervisor. Cheryl Long, an assistant cost accountant, charges the employee an amount based on Kenwood's net purchase cost. Cheryl Long is in the process of replacing a deck on her home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Long reviewed all the purchase invoices for the past year. She then used the lowest price to compute the amount due the company for the lumber. Discuss whether Long behaved in an appropriate manner.
Answer:
Cheryl did not act ethically because she used the lowest possible cost in order to calculate her own purchase cost. She should probably use an average cost or any other inventory management system (e.g. FIFO or LIFO). instead, she used the lowest possible price for her own personal benefit.
Explanation:
Tempest Enterprises began operations on January 1, 20x1, with all of its activities conducted from a single facility. The company's accountant concluded that the year's building depreciation should be allocated as follows: selling activities, 20%; administrative activities, 35%; and manufacturing activities, 45%. If Tempest sold 60% of 20x1 production during that year, what percentage of the depreciation would appear (either directly or indirectly) on the 20x1 income statement?
Answer:
100% will be included in the Income Statement
Explanation:
Always remember that the depreciation calculated for the accounting period can be apportioned as per the International Accounting Standard IAS 2, which says that expenses must be classified in a manner that results in the truth & fairness of the Financial Statements. This means that if depreciation calculated is $500 then the whole of this depreciation will be expensed out in the income statement. It's 20% might go to selling activities, 35% to administrative activities, and 45% to manufacturing activities.
But remember that the depreciation calculated for the accounting period would be expensed out by $500 in the income statement, for the period generated.10 . Problems and Applications Q5 In the 1990s and the first two decades of the 2000s, investors from the Asian economies of Japan and China made significant direct and portfolio investments in the United States. At the time, many Americans were unhappy that this investment was occurring. True or False: It was better for the United States not to receive this foreign investment because it shrank the capital stock. True False True or False: It's best for Americans that China and Japan, rather than Americans themselves, made the investment because Americans could receive the returns on the investment made by China and Japan. True False
Answer:
1. False
Proceeds from foreign investment will actually benefit the domestic capital stock. The Foreign investment has both the macro and micro effects. On macro levels it's beneficial for sectors like exports, imports, investment etc. On micro level it enhances quality of labor force.
Therefore, it was better for USA because foreign investment brought with it increased capital and new business opportunities.
2. False
Returns from an investment goes to the investor itself.In this case these returns went to Japan and China for its investment in US. It would have been better if Americans themselves made the investment because then the returns wouldn't go to a foreign nation.
A stadium is considering an offer from Mass Insurance to change the name to Mass Stadium. The company is offering to pay $1,000,000 per year. If the stadium already receives $250,000 from music promotions and accepts this offer, how much will it receive in sponsorship rights each year in total?
Answer:
b) 1,250,000
Explanation:
1,000,000+ 250,000 = 1,250,000
According to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.
What do you mean by the sponsorship?The act of monetarily or by the giving of goods or services supporting an occasion, activity, person, or organization is known as sponsoring something (or someone). The sponsor is the person or entity that offers the support; it functions similarly to a benefactor.
An organization sponsors an event when it offers financial support in exchange for marketing benefits. Sponsorships may involve a financial payment in exchange for property or a barter transaction including goods or services.
A brand or affiliation with a firm is promoted in exchange for corporate financial assistance from an organization, person, or activity, which is known as sponsorship. Of sure, sponsorship can raise your brand's value.
Here,
Company pay = $ 1,000,000
Advance amount = $ 250,000
Total sponsorship = $ 1,000,000 + $ 250,000 = $ 1,250,000
Therefore, according to the company data, it will receive in sponsorship rights each year in total is $ 1,250,000.
To know more about the sponsorship, visit:
https://brainly.com/question/15217613
#SPJ2
The following accounts were taken from the financial statements of Lee Company. Match each of the accounts to its proper balance sheet classification. If the item would not appear on a balance sheet, use "Not Applicable." Accounts Balance Sheet Classification Interest revenue select a balance sheet classification Utilities payable select a balance sheet classification Accounts payable select a balance sheet classification Supplies select a balance sheet classification Bonds payable select a balance sheet classification Goodwill select a balance sheet classification Common stock select a balance sheet classification Accumulated depreciation—equipment select a balance sheet classification Equipment select a balance sheet classification Salaries and wages expense select a balance sheet classification Debt investments (long-term) select a balance sheet classification Unearned rent revenue
Answer and Explanation:
The classification is shown below:
Interest revenue = Not applicable
Utilities payable = Current liabilities
Accounts payable = Current liabilities
Supplies = Current assets
Bonds payable = Long term liabilities
Goodwill = Intangible assets
Owner's capital = Owner's equity
Accumulated depreciation = Equipment Property,plant and equipment (Contra)
Equipment = Property,plant and equipment
Salaries and wages expense = Not applicable
Debt investment (long term) = Long term investment
Unearned rent revenue = Current liabilities
Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $11,000 beginning one year from today. The interest rate on the note is 6%.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow
Answer:
$46,336
Explanation:
The amount Canliss borrowed can be determined by calculating the present value of the instalment payments
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow each year from year 1 to 5 = $11,000
I = 6%
PV = $46,336
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute