Most agency matters are resolved through adjudication.
True.
Answer:
true is the required answer for your question
hope it helps you
Malibu Corporation has monthly fixed costs of $59,000. It sells two products for which it has provided the following information. Sales Price Contribution Margin Product 1 $ 15 $ 9 Product 2 20 4 a. What total monthly sales revenue is required to break even if the relative sales mix is 30 percent for Product 1 and 70 percent for Product 2
Answer:
$184,375
Explanation:
The computation of the monthly sales revenue that needed to be break even is given below:
Here we assume the sales be x
0.18x + 0.14x = $59,000
0.32x = $59,000
x = $59,000 ÷ 0.32
= $184,375
The 0.18x come from
= ($9) ÷ ($15) × 0.30x
= 0.18x
And, the 0.14x come from
= ($2) ÷ ($20) × 0.70x
= 0.14x
New Line Cinema is considering producing a new movie. To evaluate the proposal, the company needs to calculate its cost of capital. The firm has collected the following information:
a. The company wants to maintain is current capital structure, which is 20% equity, 20% preferred stock and 60% debt.
b. The firm has marginal tax rate of 34%.
c. The firm's preferred stock pays an annual dividend of $4.3 forever, and each share is currently worth $135.26.
d. The firm has one bond outstanding with a coupon rate of 6%, paid semiannually, 10 years to maturity, a face value of $1,000, and a current price of $1,163.51.
e. The company's beta is 0.8, the yield on Treasury bonds is is 0.6% and the expected return on the market portfolio is 6%.
f. The current stock price is $39.17. The firm has just paid an annual dividend of $1.13, which is expected to grow by 4% per year.
g. The firm uses a risk premium of 3% for the bond-yield-plus-risk-premium approach.
h. New preferred stock and bonds would be issued by private placement, largely eliminating flotation costs. New equity would come from retained earnings, thus eliminating flotation costs.
Required:
a. What is the cost of equity using the bond yield plus risk premium?
b. What is the midpoint of the range for the cost of equity?
c. What is the company's weighted average cost of capital?
Answer:
a.
7.00%
b.
5.96%
c.
1.20%
Explanation:
a.
First and foremost, we need to determine the yield to maturity on the bond, using a financial calculator as shown thus:
The financial calculator should be set to its default end mode before making the following inputs:
N=20(number of semiannual coupons in 10 years=10*2=20)
PMT=30(semiannual coupon=face value*coupon rate*/2=$1000*6%/2=$30)
PV=-1163.51(current price=$1,163.51)
FV=1000(face value of the bond=$1000)
CPT
I/Y=2.00%(semiannual yield=2%, annnual yield=2.00%*2=4.00%)
bond yield plus risk premium=bond yield(4.00%)+ risk premium(3%)
bond yield plus risk premium=7.00%
b.
In determining the midpoint range is the maximum plus minimum cost of equity divided by 2
Let us determine cost of equity using the Capital Asset Pricing Model and Constant Dividend Growth Model
cost of equity=risk-free rate+beta*(expected return on the market portfolio-risk-free rate)
risk-free rate=yield on Treasury bonds= 0.6%
beta=0.8
expected return on the market portfolio= 6%
cost of equity=0.6%+0.8*(6%-0.6%)
cost of equity=4.92%
cost of equity=expected dividend/share price+growth rate
expected dividend=last dividend*(1+growth rate)
expected dividend=$1.13*(1+4%)=$1.1752
share price= $39.17
growth rate=4%
cost of equity=($1.1752/$39.17)+4%
cost of equity=7.00%
midpoint range=(maximum cost of equity+minimum cost of equity)/2
midpoint rate=(7.00%+4.92%)/2
midpoint range=5.96%
c.
WACC=(weight of equity*cost of equity)+(weight of preferred stock*cost of preferred stock)+(weight of debt*after-tax cost of debt)
weight of equity= 20%
cost of equity=5.96%
weight of preferred stock=20%
cost of preferred stock=annual dividend/price
cost of preferred stock=$4.3/$135.26=3.18%
weight of debt=60%
aftertax cost of debt=4.00%*(1-34%)=2.64%
WACC=(20%*5.96%)+(20%*3.18%)*(60%*2.64%)
WACC=1.20%
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.
Concord Company sells merchandise on account for $5700 to Ivanhoe Company with credit terms of 2/10, n/30. Ivanhoe Company returns $1000 of merchandise that was damaged, along with a
check to settle the account within the discount period. What is the amount of the check?
$4700
$4606
$5586
$5606
Answer:
The right solution is Option b ($4606 ).
Explanation:
The given values are:
Company sells merchandise,
= $5700
Company returns,
= $1000
Now,
The amount of the check will be:
= [tex](5700-1000)\times 98 \ percent[/tex]
= [tex](5700-1000)\times 0.98[/tex]
= [tex]4700\times 0.98[/tex]
= [tex]4606[/tex] ($)
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
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
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
UML Foods reported $940 million in income before income taxes for 2020, its first year of operations. Tax depreciation exceeded depreciation for financial reporting purposes by $120 million. The company also had non-tax-deductible expenses of $80 million relating to permanent differences. The income tax rate for 2020 was 35%, but the enacted rate for years after 2020 is 30%. The balance in the deferred tax liability in the December 31, 2020, balance sheet is:
Answer:
$36,000,000
Explanation:
Note: Permanent differences have no impact on deferred taxes.
Deferred tax liability = $120 million * 30%
Deferred tax liability = $120 million * 0.30
Deferred tax liability = $36,000,000
So, the balance in the deferred tax liability in the December 31, 2020, balance sheet is $36,000,000.
Which options are available when exporting a table definition and data? Check all that apply
Answer: 1. appending data to an existing table
4. creating a new table and inserting data
Explanation:
What is the purpose of a W-2 form and how is it used to file taxes?
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
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
Question: According to a Honda press release on October 23, 2006, sales of the fuel-efficient four-cylinder Honda Civic rose by 7.1% from 2005 to 2006. Over the same period, according to data from the U.S. Energy Information Administration, the average price of regular gasoline rose from $2.27 per gallon to $2.57 per gallon. Using the midpoint method, calculate the cross-price elasticity of demand between Honda Civics and regular gasoline. According to your estimate of the cross-price elasticity, are the two goods gross complements or gross substitutes
Explanation:
because im a grade 3Waldo 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
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
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
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.
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.
Based on the above financial statements, calculate the following ratios for 2021: income statement Sales 480,000 cost of goods sold 243,200 salaries expense 55,200 depreciation expense 24,000 interest expense 4,500 rent expense 36,000 gain on equipment 0 loss on equipment disposal 1,400 364,300 net income 115,700 Statement of Retained Earnings Beginning Balance - Retained Earnings $ 36,300 Plus - Net Income 115,700 Less - Dividends (18,000) Ending Balance - Retained Earnings $ 134,000 Balance sheets 2020 2021 change Assets: Cash 27,500 72,600 45,100 Accounts Receivable 32,600 47,600 15,000 Inventory 48,000 54,800 6,800 prepaid expenses 7,200 5,200 (2,000) Equipment 56,000 77,000 21,000 Accum. Depr - Equipment (26,500) (32,500) (6,000) total assets 144,800 224,700 Liabilities: Accounts Payable 12,700 25,700 13,000 accrued Liabilities 3,800 5,000 1,200 Bonds Payable 72,000 40,000 (32,000) total liabilities 88,500 70,700 shareholders Equity: Common Stock 20,000 20,000 0 Retained Earnings 36,300 134,000 97,700 total equity 56,300 154,000 total liabilities and shareholder equity 144,800 224,700 A. Current Ratio B. Gross Profit Percentage C. Debt Ratio D. Debt to Equity Ratio
Answer:
A. Current Ratio = 5.87
B. Gross Profit Percentage = 49.33%
C. Debt Ratio = 0.31
D. Debt to Equity Ratio = 0.46
Explanation:
The ratios can be calculated for 2021 as follows:
A. Current Ratio
Current ratio = Current assets / Current liabilities ………………… (1)
Where:
Current assets = Current assets in 2021 = Cash in 2021 + Accounts Receivable in 2021 + Inventory in 2021 + Prepaid expenses in 2021 = $72,600 + $47,600 + 54,800 + $5,200 = $180,200
Current liabilities = Current liabilities in 2021 = Accounts Payable in 2021 + accrued Liabilities in 2021 = $25,700 + $5,000 = $30,700
Substituting the values into equation (1), we have:
Current ratio = 180,200 / 30,700 = 5.87
B. Gross Profit Percentage
Gross Profit Percentage = (Gross profit / Sales) * 100 ………………….. (2)
Where:
Gross profit = Sales – Cost of goods sold = $480,000 - $243,200 = $236,800
Sales = $480,000
Substituting the values into equation (2), we have:
Gross Profit Percentage = ($236,800 / $480,000) * 100 = 49.33%
C. Debt Ratio
Debt ratio = Total debts / Total assets …………………………….. (3)
Where:
Total debts = Total liabilities in 2021 = $70,700
Total assets = total assets in 2021 = $224,700
Substituting the values into equation (3), we have:
Debt ratio = $70,700 / $224,700 = 0.31
D. Debt to Equity Ratio
Debt to Equity Ratio = Total debts / Total equity …………………………….. (4)
Total debts = Total liabilities in 2021 = $70,700
Total equity = total equity in 2021 = $154,000
Substituting the values into equation (4), we have:
Debt to Equity Ratio = $70,700 / $154,000 = 0.46
Identify the statement below that is true regarding the Allowance for Doubtful Accounts account. Multiple Choice The account has a normal credit balance and is reported on the balance sheet. The account has a normal debit balance and is reported on the balance sheet. The account has a normal credit balance and is reported on the income statement. The account has a normal debit balance and is reported on the income statement.
Answer: The account has a normal credit balance and is reported on the balance sheet.
Explanation:
The allowance for doubtful accounts refers to the amount of account receivable that the company believes will not be paid by the customers. It is referred to as the bad debt reserve as well.
The allowance for doubtful accounts reduces the accounts receivable. It also has a normal credit balance and is reported on the balance sheet.
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]
Riverboat Adventures pays $170,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $22,000, a building appraised at $79,200, and paddleboats appraised at $118,800. Compute the cost that should be allocated to the building. Multiple Choice $66,240. $61,200. $79,200.
Answer:
Total cost allocated to building = $66,240
Explanation:
Given:
Total amount pay = $170,000 + $14,000 = $184,000
Land appraised amount = $22,000
Building appraised amount = $79,200
Paddleboats appraised price = $118,800
Find:
Total cost allocated to building
Computation:
Total appraisal price = Land appraised amount + Building appraised amount + Paddleboats appraised price
Total appraisal price = $22,000 + $79,200 + 118,800
Total appraisal price = $220,000
Total cost allocated to building = [Total amount pay / Total appraisal price]Building appraised amount
Total cost allocated to building = [184,000/220,000]79,200
Total cost allocated to building = $66,240
the objective section of a resume should consist of no more than:
A. One to two sentences
B. One page
C. A half-page
D. One paragraph
Answer:A
Explanation:
A p e x
Answer:
A. One to two sentences
Explanation:
You dont want whomever is reading your resume to think that you are full of yourself.
The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,840 liters in beginning work in process inventory (30% complete). During the period 64,880 liters were completed. The ending work in process was 5,160 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process
Answer:
Total equivalent units of materials = 64,652
Explanation:
Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work
Equivalent Units = Degree of work completed (%) × inventory units
Fully worked = 64,880- 3,840= 61,040
Items units workings Equivalent units
Opening inventory 3,840 3840× 70% = 2,688
Fully worked 61,040 61,040× 100 = 61,040
Closing WIP 5,160 5,160× 70% = 3,612
Total equivalent units of materials 64,652
Total equivalent units of materials =64,652
On January 15, 2020, Vern purchased the rights to a mineral interest for $3,500,000. At that time, it was estimated that the recoverable units would be 500,000. During the year, 40,000 units were mined and 25,000 units were sold for $800,000. Vern incurred expenses during 2020 of $500,000. The percentage depletion rate is 22%. Determine Vern's depletion deduction for 202
Answer: $175,000
Explanation:
Vern's depletion deduction for 2020 will be calculated thus:
= (Cost - Salvage value) / (Estimated Number of units × Number of units extracted
= 3500000/500000 × 25000
= 7 × 25000
= $175000
Therefore, Vern's depletion deduction for 2020 is $175000
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.
the total surface area of hemisphere is 4158sq then what is the circumference of the base
Answer:
C = 132 units
Explanation:
Given the following data;
TSA of hemisphere = 4158 sq units
To find the circumference of the base;
Mathematically, the total surface area of a hemisphere is given by the formula;
TSA of hemisphere = 3πr²
First of all, we would determine the radius of the hemisphere.
4158 = 3 * 22/7 * r²
Cross-multiplying, we have;
4158 * 7 = 3 * 22 * r²
29106 = 66r²
r² = 29106/66
r² = 441
Taking the square root of both sides, we have;
r = √441
r = 21 units
Next, we determine the circumference of the base using the same radius;
Circumference of circle, C = 2πr
C = 2 * 22/7 * 21
C = 924/7
C = 132 units
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
Required:
For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
Twix, Dots, and Skor
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
Cash flows from operations ($6,400) $93,400 $102,400
Explanation:
a) Data and Calculations:
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
b) Depreciation is added back to the net income. Increases in current assets are cash outflows, reducing cash flows, while decreases are cash inflows, increasing cash flows. On the other hand, increases in current liabilities are cash inflows, increasing cash flows, while decreases are cash outflows, reducing cash flows.
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