Answer:
The consumer preference is to have a meat that is leaner, and an equal amount of fat distributed throughout the meat.
Explanation:
This means that the cuts of meat that fit this description can be sold at a higher price than others.
1. Corporation management is both an advantage and a disadvantage of a corporation compared to a proprietorship or a partnership.
a) true
b) false
2. Limited liability of stockholders, government regulations, and additional taxes are the major disadvantages of a corporation.
a) true
b) false
3. When a corporation is formed, organization costs are recorded as an asset.
a) true
b) false
4. Each share of common stock gives the stockholder the ownership rights to vote at stockholder meetings, share in corporate earnings, keep the same percentage ownership when new shares of stock are issued, and share in assets upon liquidation.
a) true
b) false
5. The number of issued shares is always greater than or equal to the number of authorized shares.
a) true
b) false
6. A journal entry is required for the authorization of capital stock.
a) true
b) false
7. Publicly held corporations usually issue stock directly to investors.
a) true
b) false
8. The trading of capital stock on a securities exchange involves the transfer of already issued shares from an existing stockholder to another investor.
a) true
b) false
9. The market price of common stock is usually the same as its par value.
a) true
b) false
10. Retained earnings is the total amount of cash and other assets paid in to the corporation by stockholders in exchange for capital stock.
a) true
b) false
Answer: 1. True
2. False
3. False
4. True
5. False
6. False
7. False
8. True
9. False
10. False
Explanation:
1. Corporation management is both an advantage and a disadvantage of a corporation compared to a proprietorship or a partnership is true.
2. This is false. LImited liability is not a disadvantage of a corporation. It is an advantage of a corporation.
3. Thus is false. When a corporation is formed, it should be noted that organization costs are expenses and not recorded as an asset.
4. This is true. Every share of common stock gives provides the stockholder the ownership rights to vote at stockholder meetings, and also share in corporate earnings, as well as keeping same percentage ownership when new shares of stock are issued, and will also share in the assets upon liquidation.
5. False. It should be noted that the number of authorized shares is typically more than greater or equal to the issued shares.
6. False. A journal entry is not required for the authorization of capital stock. It's required for the issuance of the capital stock.
7. Publicly held corporations do not issue stock directly to investors. Rather, this is done indirectly. It is the private corporations that issue their stock directly.
8. This is true. The trading of capital stock on a securities exchange has to do with the transfer of already issued shares from an existing stockholder to another investor.
9. False. The statement that "The market price of common stock is usually the same as its par value" is false. It should be noted that there's no relationship between the common stock market price and its par value.
10. This is false. The retained earnings simply meansis the total amount of the net income that is held by a corporation for use in the future.
Pecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $64,000; 20Y2, $128,000; 20Y3, $288,000; 20Y4, $368,000; 20Y5, $448,000; and 20Y6, $576,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 40,000 shares of cumulative, preferred 4% stock, $100 par, and 100,000 shares of common stock, $10 par.
Required:
Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years.
Answer:
Pecan Theatre Inc.
Annual Dividends:
Year Amount Cumulative Common Stock
Declared Arrears
20Y1, $64,000 $64,000 $96,000 $0
Per share dividends $1.60 $0
20Y2, $128,000 $128,000 $128,000 $0
Per share dividends $3.20 $0
20Y3, $288,000 $288,000 $0 $0
per share dividends $7.20 $0
20Y4, $368,000 $160,000 $0 $208,000
Per share dividends $4.00 $2.08
20Y5, $448,000 $160,000 $0 $288,000
Per share dividends $4.00 $2.88
20Y6, $576,000 $160,000 $0 $416,000
Per share dividends $4.00 $4.16
Explanation:
a) Data and Calculations:
Outstanding common stock = 100,000 shares at $10 par
Outstanding 4% cumulative preferred stock = 40,000 at $10 par
Annual preferred stock dividend = 4% * 40,000 * $100
= $160,000
Annual Dividends:
Year Amount Cumulative Common Stock
Declared Arrears
20Y1, $64,000 $64,000 $96,000 $0
Per share dividends $1.60 ($64,000/40,000) $0
20Y2, $128,000 $128,000 $128,000 $0
Per share dividends $3.20 ($128,000/40,000) $0
20Y3, $288,000 $288,000 $0 $0
per share dividends $7.20 ($288,000/40,000) $0
20Y4, $368,000 $160,000 $0 $208,000
Per share dividends $4.00 ($160,000/40,000) $2.08 ($208,000/100,000)
20Y5, $448,000 $160,000 $0 $288,000
Per share dividends $4.00 ($160,000/40,000) $2.88 ($288,000/100,000)
20Y6, $576,000 $160,000 $0 $416,000
Per share dividends $4.00 ($160,000/40,000) $4.16 ($416,000/100,000)
Which of the following statements represents a correct and sequentially accurate economic explanation? a. If net exports rise, total expenditures on goods and services rises, and the AD curve shifts rightward. b. If investment increases, total expenditures on goods and services falls, and the AD curve shifts leftward. c. If consumption falls, total expenditures on goods and services falls, and the AD curve shifts rightward. d. If consumption falls, total expenditures on goods and services rises, and the AD curve shifts leftward.
Answer:
The statement that represents a correct and sequentially accurate economic explanation is:
a. If net exports rise, total expenditures on goods and services rises, and the AD curve shifts rightward.
Explanation:
Some of the factors that can cause the AD curve to shift rightward are increased consumer spending, declining marginal propensity to save, and an expansionary monetary and fiscal policy. Increased consumer spending can be brought about by increased net exports, which increase the propensity to spend. Declining marginal propensity to save increases the marginal propensity to spend, and this causes the AD curve to shift rightward. When government, through its monetary and fiscal policies, makes more money available, the AD curve shifts rightward, with an increased demand for goods and services.
The statement that represents a correct and sequentially accurate economic explanation is:
a. If net exports rise, total expenditures on goods and services rises, and the AD curve shifts rightward.
The following information should be considered:
Some of the factors that can cause the AD curve to shift rightward are increased consumer spending, declining marginal propensity to save, and an expansionary monetary and fiscal policy. Increased consumer spending can be brought about by increased net exports, which increase the propensity to spend. Declining marginal propensity to save increases the marginal propensity to spend, and this causes the AD curve to shift rightward. When government, through its monetary and fiscal policies, makes more money available, the AD curve shifts rightward, with an increased demand for goods and services.Learn more: brainly.com/question/16911495
Cliff's Candy produces and sells boxes of chocolates. When Cliff produces and sells his profit-maximizing quantity of 1,000 boxes, the average total cost is $3.00. If Cliff were to produce 1,100 boxes, the average total cost would be $2.50. Which of the following inefficiencies of monopolistically competitive markets is described in this scenario?
a. Product-variety externality
b. Business-stealing externality
c. Markup over marginal cost
d. Excess capacity
Answer:
D
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
The product-variety externality: When new firms enter into an industry, competition drives price down. This increases consumer surplus. As a result, entry of firms into an industry results in a positive externality on consumers.
The business-stealing externality: When a new firm enters into an industry, existing firms lose customers and profits fall. As a result, entry of a new firm results in a negative externality on existing firms.
Markup over marginal cost is the extent of which price exceeds marginal cost
Excess capacity is when a firm is producing at a capacity that is less than what it is designed for. Excess capacity is evidenced when upon increasing output, average cost falls.
Normally you will see US Labor Productivity Increasing at an annual rate of around 6%. In reading the book you should see that it must continue to increase for our country to continue to have the standard of living that we do. What seemed odd to me was that in the 3rd Quarter of 2009, while our country is in the midst of a very deep recession, this number went to 14.8%. In the 4th Quarter it dropped to 6.4% and in the 1st Quarter of this year it was at 2.5%. Why the Big Spike in the 3rd Quarter of 2009
Answer: c) Employees are fearful of losing their jobs, so they are working harder and complaining less.
Explanation:
Research has shown that during periods of recession, people tend to work harder than they do before the recession which has the effect of boosting productivity levels during that period.
The simply reason for this is, fear. In a recession, businesses come under a lot of pressure to reduce their workforce in order to save costs which leads to a rise in unemployment. Workers that are laid off are usually the unproductive ones so workers begin to put in more work during this time so that they do not get laid off.
ABM, Kaizen Costing Baker, Inc., supplies wheels for a large bicycle manufacturing company. The bicycle company has recently requested that Baker decrease its delivery time. Baker made a commitment to reduce the lead time for delivery from seven days to one day. To help achieve this goal, engineering and production workers had made the commitment to reduce time for the setup activity (other activities such as moving materials and rework were also being examined simultaneously). Current setup times were 12 hours. Setup cost was $600 per setup hour. For the first quarter, engineering developed a new process design that it believed would reduce the setup time from 12 hours to nine hours. After implementing the design, the actual setup time dropped from 12 hours to seven hours. Engineering believed the actual reduction was sustainable. In the second quarter, production workers suggested a new setup procedure. Engineering gave the suggestion a positive evaluation, and they projected that the new approach would save an additional six hours of setup time. Setup labor was trained to perform the new setup procedures. The actual reduction in setup time based on the suggested changes was four hours.
Required:
1. What kaizen setup standard would be used at the beginning of each quarter?
2. How much non-value-added cost was eliminated by the end of two quarters?
Answer and Explanation:
the computation is shown below:
1. Setup Time standard
Here the first quarter standard would be considered i.e. 9 hours so we dont take the actual setup time
The Second quarter is 1 hour that denotes the Expected setup time
2. The Total non-value cost which got eliminated is
Since, The setup time was Decrease from 12 hours to 3 hours.
So, the Total non value added cost eliminated is
= $600 × (12 - 3)
= $600 × 9
= $5,400
Suppose that Ava withdraws $300 from her savings account at Second Bank. The reserve requirement facing Second Bank is 10%. Assume the bank does not wish to hold any excess reserves of new deposits. Use this information to complete the balance sheet below to show how Second Bank's assets and liabilities change when Ava withdraws the $300 from the bank. Instructions:
Write your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
A Simple Bank Balance Sheet
Assets Liabilities
Change in Reserves: Change in Deposits:
Change in Loans:
Answer:
simple bank balance sheet
Explanation:
hope you get it
define biospheredefine biosphere
Answer:
Explanation:
The biosphere (from Greek βίος bíos "life" and σφαῖρα sphaira "sphere"), also known as the ecosphere (from Greek οἶκος oîkos "environment" and σφαῖρα), is the worldwide sum of all ecosystems. It can also be termed the zone of life on Earth. The biosphere is virtually a closed system with regards to matter, with minimal inputs and outputs. With regards to energy, it is an open system, with photosynthesis capturing solar energy at a rate of around 130 Terawatts per year. However it is a self-regulating system close to energetic equilibrium. By the most general biophysiological definition, the biosphere is the global ecological system integrating all living beings and their relationships, including their interaction with the elements of the lithosphere, cryosphere, hydrosphere, and atmosphere. The biosphere is postulated to have evolved, beginning with a process of biopoiesis (life created naturally from non-living matter, such as simple organic compounds) or biogenesis (life created from living matter), at least some 3.5 billion years ago.
Answer:
the regions of the surface, atmosphere, and hydrosphere of the earth (or analogous parts of other planets) occupied by living organisms.
ABC Company rents its extra office space to XYZ Company for $600 per month. On November 1, 2020, ABC Company received $3,600 rent in advance from XYZ Company for the months of November 2020, December 2020, January 2021, February 2021, March 2021, and April 2021. The adjusting entry on December 31, 2020 (the end of the fiscal year) would include:
Answer:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
Explanation:
The adjusting entry on December 31, 2020 would include:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
present value of bonds payable; premium moss co. issued $740,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. determine the present value of the bonds payable, using the present value tables in exhibit 5 and exhibit 7. round to the nearest dollar. $fill in the blank 1
Answer:
ijiji
Explanation:
hug
The Fortise Corporation manufactures two types of vacuum cleaners, the Victor for commercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2017 were as follows: Static Budget Victor House-Mate Total Number sold 20,000 80,000 100,000 Contribution margin $4,600,000 $15,200,000 $19,800,000 Actual Results Victor House-Mate Total Number sold 21,500 64,500 86,000 Contribution margin $6,665,000 $14,190,000 $20,855,000 What is the total sales-mix variance closest to in terms of the contribution margin
Answer:
The Fortise Corporation
The total sales-mix variance closest to $1,055,000 in terms of the contribution margin.
Explanation:
a) Data and Calculations:
Static Budget Victor House-Mate Total
Total Number sold 20,000 80,000 100,000
Contribution margin $4,600,000 $15,200,000 $19,800,000
Actual Results Victor House-Mate Total
Number sold 21,500 64,500 86,000
Contribution margin $6,665,000 $14,190,000 $20,855,000
Variance
Number sold 1,500 F 15,500 U 14,000 U
Contribution margin $2,065,000 F $1,010,000 U $1,055,000 F
Most agency matters are resolved through adjudication.
False
True
Most agency matters are resolved through adjudication.
True.
Answer:
true is the required answer for your question
hope it helps you
5. Joseph transfers $1000 from his money market fund to his checking account. This
transaction will:
a) decrease M2 and increase M1.
b) increase M1, but leave M2 unchanged.
c) decrease M1 and increase M2.
d) decrease both M1 and M2.
Answer:
A. decrease M2 and increase M1
good research should ideally be...
Answer:
What constitutes a good research question?
A good research question requires original data, synthesis of multiple sources, interpretation and/or argument to provide an answer. The answer to the question should not just be a simple statement of fact: there needs to be space for you to discuss and interpret what you found.
Explanation:
A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $105 (a $525 check recorded as $630), two outstanding checks totaling $830, a service charge of $20, a deposit in transit of $260, and interest revenue of $33. What is the adjusted book balance
Answer:
$5,275
Explanation:
Bank Reconciliation Statement
Balance as per Cash Book $4,600
Add check error $105
Add unpresented checks $830
Less Lodgments not yet credited ($260)
Balance as per Bank Statement $5,275
therefore,
The adjusted Cash book balance is $5,275
Roberto has received various gifts over the years and has decided to dispose of the following assets he received as gifts:
What is the recognized gain or loss from the following transactions, assuming that no gift tax was paid when the gifts were made.
If an answer is zero, select "neither a gain nor a loss" and enter "0" as the amount.
a. In 1981, he received land worth $32,000. The donor's adjusted basis was $35,000. Roberto sells the land for $95,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
b. In 1986, he received stock in Gold Company. The donor's adjusted basis was $19,000. The fair market value on the date of the gift was $34,000. Roberto sells the stock for $40,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
c. In 1992, he received land worth $15,000. The donor's adjusted basis was $20,000. Roberto sells the land for $9,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
d. In 2013, he received stock worth $30,000. The donor's adjusted basis was $42,000. Roberto sells the stock for $38,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
Answer: See explanation
Explanation:
a. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $95000 - $35000
= $60000
Gain of $60000 will be recognized
b. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $40000 - $19000
= $21000
Gain of $21000 is recognized
c. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $9000 - $15000
= -$6000
Loss of $6000 is recognized
d. In this case, no gain or loss will be recognized.
An organization wants to provide its employees information about what its goals are and what it expects employees to accomplish. It is planning to implement an incentive plan that helps employees understand the organization's goals. Which plan should be used by this organization?
Answer:
This question is incomplete, the options are missing. The options are the following:
a) A retention bonus
b) A piecework rate system
c) A merit pay system
d) The Scanlon plan
e) A balanced scorecard
And the correct answer is the option E: A balanced scorecard.
Explanation:
To begin with, the term known as "Balanced Scorecard" it is a very famous strategy method used in the fields of management and business in order to achieve higher levels of administration from the managers and owners. It is a technique that involves the company's short and long term goals and the way to plan how to incentive the employees of the company in order for them to grow and understand better the plans of the organization so that they could work better and increase the productivity that will consequently affect in the benefits of the enterprise as a whole.
Janice is the sole owner of Catbird Company. In the current year, Catbird had operating income of $100,000, a long-term capital gain of $15,000, and a charitable contribution of $5,000. Janice withdrew $70,000 of profit from Catbird. How should Janice report this information on her individual tax return if Catbird Company is: An LLC? An S corporation? A C corporation?
Answer:
A. LLC
Operating income $100,000
Long-term Capital Gain $15,000
Charitable contribution $5,000
No Effect $70,000
b. S corporation
Operating income $100,000
Long-term Capital Gain $15,000
Charitable contribution $5,000
No Effect $70,000
C. C corporation
Taxable income $110,000
Dividend income $70,000
Explanation:
a. An LLC
Based on the information given She will report the OPERATING INCOME of the amount of $100,000 Schedule C.
LONG-TERM CAPITAL GAIN Schedule D of the amount of $15,000.
Thirdly in a situation where she itemizes, the amount of $5,000 which represent charitable contribution (Schedule A) will be on her tax return
Lastly the amount of $70,000 which represent the amount withdrew from profit would have no effect on her individual tax return.
b. S corporation
Based on the information given she will report the OPERATING INCOME of the amount of $100,000 Schedule E.
LONG-TERM CAPITAL GAIN Schedule D of the amount of $15,000.
Thirdly in a situation where she itemizes, the amount of $5,000 which represent CHARITABLE CONTRIBUTION (Schedule A) will be on her tax return
Lastly the amount of $70,000 which represent the amount withdrew from profit would have no effect on her individual tax return.
c. C corporation
Based on the information given the TAXABLE INCOME of the amount of $110,000 calculated as ($100,000+$15,000-$5,000) will be reported by Catbird Company on FORM 1120 while Janice on the other hand will have to report DIVIDEND INCOME Schedule B of the amount of $70,000 on her tax return.
Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,700, and the company expects to sell 1,640 per year. The company currently sells 1,990 units of its existing model per year. If the new model is introduced, sales of the existing model will fall to 1,660 units per year. The old board retails for $23,100. Variable costs are 53 percent of sales, depreciation on the equipment to produce the new board will be $1,035,000 per year, and fixed costs are $3,250,000 per year. If the tax rate is 24 percent, what is the annual OCF for the project
Answer: $9,524,922
Explanation:
The annual OCF of the project will be calculated as
= EBIT + Depreciation - taxes
First, we have to calculate the EBIT which will be:
= [ $24,700 x 1,640 - ( 1,990-1,660 x $23,100 ]
= $40,508,000 - (330 × $23100)
= $40,508,000 - $7,623,000
= $ 32,885,000
Variable cost will then be:
= $32,885,000 × 53%
= $32,885,000 x 0.53
= $ 17,429,050
Therefore, EBIT will be:
= $32,885,000 - $ 17,429,050 - Fixed cost - depreciation
= $32,885,000 - $ 17,429,050 - $3,250,000 - $1,035,000
= $11,170,950
Then, we calculate the value of tax which will be:
= $11,170,950 x 0.24
= $2,681,028
Therefore, OCF will be:
= EBIT + Depreciation - taxes
= $11,170,950 + $1,035,000 - $2,681,028
= $9,524,922
What is the present value of 4360 to be received at the beginning of each of 30 periods discounted at 5% compound interest
Answer:
The right solution is "70375.08".
Explanation:
Given that,
Present value,
= 4360
Interest rate,
= 5%
Time period,
= 30
Now,
The present value of inflows will be:
= [tex](1+rate)\times \frac{Present \ value[1-(1+Interest \ rate)^{-time \ period}]}{rate}[/tex]
= [tex]1.05\times 4360\times \frac{[1-(1.05)^{-30}]}{0.05}[/tex]
= [tex]4360\times 16.1410736[/tex]
= [tex]70375.08[/tex]
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is:
Direct materials used $ 88,000
Direct labor used $ 161,800
Predetermined overhead rate (based on direct labor) 140 %
Goods transferred to finished goods $ 445,000
Cost of goods sold $ 457,000
Credit sales $ 833,400
A. Debit Accounts Receivable $833,400; credit Cost of Goods Sold $833,400.
B. Debit Accounts Receivable $833,400; credit Sales $376,400; credit Finished Goods Inventory $457,000.
C. Debit Cost of Goods Sold $457,000; credit Sales $457,000.
D. Debit Finished Goods Inventory $457,000; debit Sales $833,400; credit Accounts Receivable $833,400; credit Cost of Goods Sold $457,000.
E. Debit Accounts Receivable $833,400; credit Sales $833,400; debit Cost of Goods Sold $457,000; credit Finished Goods Inventory $457,000.
Answer:
E. Debit Accounts Receivable $833,400; credit Sales $833,400; debit Cost of Goods Sold $457,000; credit Finished Goods Inventory $457,000.
Explanation:
Based on the information given we were told that the Cost of goods sold was the amount of $ 457,000 while the Credit sales was the amount of $ 833,400 which means that the appropiate journal entry to record June sales is:
Debit Accounts Receivable $833,400
Credit Sales $833,400
(To record sales)
Debit Cost of Goods Sold $457,000
Credit Finished Goods Inventory $457,000
(To record sales)
Waldo Company has been approached about providing a new service to its clients. The company will bill clients $160 per hour; the related hourly variable and fixed operating costs will be $70 and $24, respectively. If all employees are currently working at full capacity on other client matters, the per-hour opportunity cost of being unable to provide this new service is:
Answer:
$90 per hour
Explanation:
Opportunity cost means the benefit one have forgone, for choosing another alternative. Opportunity cost of being unable to provide new service = Billing price - Variable cost per hour. Here, fixed cost is not considered because it will be incurred irrespective of the capacity of working.
So, Opportunity cost = $160 - $70 = $90 per hour
A process plant making 5000 kg/day of a product selling for $1.75/kg has annual variable pro- duction costs of $2 million at 100 percent capacity and fixed costs of $700,000. What is the fixed cost per kilogram at the breakeven point? If the selling price of the product is increased by 10 percent, what is the dollar increase in net profit at full capacity if the income tax rate is 35 percent of gross earnings?
Answer:
a. Breakeven point = Fixed cost / Contribution margin
Contribution margin = Selling price - Variable costs per unit
Variable cost per unit = 2,000,000 / (5,000 * 365 days)
= $1.10
Contribution margin = 1.75 - 1.10
= $0.65
Breakeven point = 700,000 / 0.65
= 1,076,923 kg
Fixed cost per kilogram at those units is:
= 700,000 / 1,076,923
= $0.65
_________________________________________________________
b. Net profit at original prices:
= (Contribution margin * units produced) - Fixed costs
= (0.65 * 5,000 * 365) - 700,000
= $486,250
Less taxes:
= 486,250 * (1 - 35%)
= $316,062.50
Net profit after price increase:
New selling price = 1.75 * 1.1
= $1.93
Net profit = ((Selling price - Variable cost) * units sold) - fixed cost
= ( (1.93 - 1.10) * 5,000 * 365) - 700,000
= $814,750
After tax:
= 814,750 * (1 - 35%)
= $529,587.50
Dollar increase:
= 529,587.50 - 316,062.50
= $213,525
A portfolio is worth $902,654 and has a duration of 5.77 years. The futures price for a June Treasury note futures contract is 115 and each contract is for the delivery of bonds with a face value of 100,000. On the delivery date the duration of the cheapest to deliver bond is 4.36 years. To hedge the interest rate risk, how many June T note futures do you have to enter short positions on
Answer:
10.39
Explanation:
How many June T note futures do you have to enter short positions on?
The June T note futures we have to enter short positions on is calculated as:
= Portfolio duration*Portfolio value/(Futures price*Face value/100)*1/Duration of cheapest to deliver bond
= 5.77*$902,654 / (115*1000) * 1/4.36
= 5208313.58/115000*0.2293577981651376
= 10.38754204228161
= 10.39
Huron has provided the following year-end balances: Cash, $29,000 Patents, $7,400 Accounts receivable, $9,400 Property, plant, and equipment, $98,400 Prepaid insurance, $4,100 Accumulated depreciation, $15,000 Inventory, $39,000 Retained earnings, 15,500 Trademarks, $13,100 Accounts payable, $8,000 Goodwill, $16,000 How much are Huron's current assets
Answer:
$81,500
Explanation:
Given the information above, Hurron's current asset will be computed using the formula below.
= Cash + Accounts receivables + Prepaid insurance + Inventory
= $29,000 + $9,400 + $4,100 + $39,000
= $81,500
Therefore, Hurron's current assets is $81,500.
Why would a producer decide to produce in a competitive market in which she will earn zero profit in the long run? Choose one: A. Because at zero profit, with her revenue, she can cover all her costs—explicit and implicit (opportunity cost). B. Because the zero profit in the long run is, in fact, zero accounting profit, and it matters only in the books. C. Because in the short run, her profit is always positive. D. Because the producer has a high cost of exiting this market, and it is better for her to continue operating at zero profit.
Answer:
Option A : Because at zero profit, with her revenue, she can cover all her costs—explicit and implicit (opportunity cost).
Explanation:
Perfectly Competitive Market
This is simply a market the market participants are said to be price takers that is no consumption decisions by individual consumers and no production decisions by individual producers can be able to affect the market price of a good.
Perfectly Competitive Industry
This is simply an industry where producers are said to be price takers.
Explicit Costs
These are costs that are simply known as "out-of-pocket" costs or in accounting costs. They are an individual's fixed and variable costs of doing business.
Implicit Costs
These are costs that do not partains to monetary payment as they are the opportunity costs of doing business.
It is said that at zero profit, the revenue covers all the costs, including the implicit ones. The fact that her implicit costs are covered shows that no outside option or opportunity that is superior to the zero economic profit option is chosened.
Under the good neighbor rule, a buyer of consumer goods, who gives value and does not have
actual or constructive knowledge of the security interest, acquires clear title if there has been no filing
a. True
b. False
Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $280,000 for January. On February 7, a customer received warranty repairs requiring $180 of parts and $105 of labor.a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. b. Journalize the entry to record the warranty work provided in February.
Answer:
Explanation:
a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty.
Debit: Product Warranty expense Account = $280,000 × 4% = $11200
Credit Product Warranty payable = $11200
b. Journalize the entry to record the warranty work provided in February.
Debit Product warranty payable Account $285
Credit Supplies account $180
Credit Wages payable account $105
Indiana Co. began a construction project in 2021 with a contract price of $162 million to be received when the project is completed in 2023. During 2021, Indiana incurred $40 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed.
Suppose that, in 2022, Indiana incurred additional costs of $65 million and estimated an additional $52 million in costs to complete the project. Indiana (Do not round your percentage calculated):
A) Recognized $8.91 million gross profit on the project in 2022.
B) Recognized $11.91 million gross profit on the project in 2022.
C) Recognized $3.00 million loss on the project in 2022.
D) Recognized $8.91 million loss on the project in 2022.
Answer:
D) Recognized $8.91 million loss on the project in 2022.
Explanation:
The computation is shown below:
For Year 2021:
Percentage of work completed in the year 2021 is
= $40 ÷ ($40 + $84)× 100
= $40 ÷ $124 × 100
= 32.26%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $84
= $38
Profit to be recognized in the year 2016 is
= profit × percentage of completion
= $38 × 32.26%
= $12.256
For Year 2022:
Percentage of work completed in the year 2017 is
= ($40 + $65) ÷ ($40 + $65 + $52)
= $105 ÷ $157 × 100
= 66.88%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $65 - $52
= $5
Profit that should be recognized till the year 2017 is
= profit × percentage of completion
= $5 × 66.88%
= $3.344
Profit to be recognized in the year 2017 is
= $3.344 - $12.256
= 8.91 million loss
Accounts Debits Credits
Cash $ 17,000
Accounts Receivable 7,400
Supplies 3,400
Equipment 12,000
Accumulated Depreciation $ 3,800
Salaries Payable 5,800
Common Stock 22,000
Retained Earnings 8,200
Totals $ 39,800 $ 39,800
The following is a summary of the transactions for the year:
1. March 12 Provide services to customers, $54,000, of which $20,400 is on account.
2. May 2 Collect on accounts receivable, $17,400.
3. June 30 Issue shares of common stock in exchange for $6,000 cash.
4. August 1 Pay salaries of $5,800 from 2020 (prior year).
5. September 25 Pay repairs and maintenance expenses, $12,400.
6. October 19 Purchase equipment for $7,400 cash.
7. December 30 Pay $1,100 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued salaries at year-end amounted to $20,700.
Depreciation for the year on the equipment is $4,400.
Office supplies remaining on hand at the end of the year equal $1,200.
a. Prepare an unadjusted trial balance(Please write out).
b. Prepare an adjusted trial balance(Please write out).
3. Prepare the income statement for the year ended December 31, 2021 (Please Write out).
4. Prepare a post-closing trial balance.
Answer:
a. Unadjusted Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 3,400
Equipment 19,400
Accumulated Depreciation $ 3,800
Salaries Payable
Common Stock 28,000
Retained Earnings 8,200
Dividend 1,100
Service revenue 54,000
Repairs and
maintenance exp $12,400
Totals $ 94,000 $ 94,000
b. Adjusted Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 1,200
Equipment 19,400
Accumulated Depreciation $ 8,200
Salaries Payable 20,700
Common Stock 28,000
Retained Earnings 8,200
Dividend 1,100
Service revenue 54,000
Repairs and
maintenance exp 12,400
Salaries expense 20,700
Depreciation Exp 4,400
Office supplies exp 2,200
Totals $119,100 $ 119,100
3. Income Statement for the year ended December 31, 2021
Service revenue 54,000
Repairs and
maintenance exp 12,400
Salaries expense 20,700
Depreciation Exp 4,400
Office supplies exp 2,200 39,700
Net income $14,300
4. Post-closing Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 1,200
Equipment 19,400
Accumulated Depreciation $ 8,200
Salaries Payable 20,700
Common Stock 28,000
Retained Earnings 21,400
Totals $78,300 $78,300
Explanation:
a) Data and Calculations:
Accounts Debits Credits
Cash $ 17,000
Accounts Receivable 7,400
Supplies 3,400
Equipment 12,000
Accumulated Depreciation $ 3,800
Salaries Payable 5,800
Common Stock 22,000
Retained Earnings 8,200
Totals $ 39,800 $ 39,800
1. March 12 Accounts receivable $20,400 Cash $33,600 Service revenue $54,000
2. May 2 Cash $17,400 Accounts receivable $17,400
3. June 30 Cash $6,000 Common stock $6,000
4. August 1 Salaries Payable $5,800 Cash $5,800
5. September 25 Repairs and maintenance expenses, $12,400 Cash $12,400
6. October 19 Equipment $7,400 Cash $7,400
7. December 30 Cash dividends $1,100 Cash $1,100
Adjusting entries:
Salaries expense $20,700 Salaries payable $20,700
Depreciation Expense $4,400 Accumulated Depreciation $4,400
Office supplies expenses $2,200 Supplies $2,200