Answer:
Depreciation expense in 2021 =$2420.50
Depreciation expense in 2019 = $1442
Explanation:
The following steps would be taken to determine the answer
1. Calculate depreciation expense given the initial information
2. calculate the accumulated depreciation by the second year. Accumulated depreciation is sum of depreciation expense
3. subtract the accumulated depreciation from the cost price of the asset. This would give the book value
4. calculate the depreciation expense using the new information and the book value
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($8,240 - $1030) / 5 = $1442
Accumulated depreciation by January 2021 = $1442 x 2 = $2884
Book value = $8,240 - $2884 = $5356
New useful life = 2 years
Salvage value = $515
Depreciation expense in 2021 = ($5356 - $515) / 2 = $2420.50
A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 36%, while stock B has a standard deviation of return of 16%. The correlation coefficient between the returns on A and B is 0.30. Stock A comprises 30% of the portfolio, while stock B comprises the rest of the portfolio. What is the standard deviation of the return on this portfolio?
Answer: 17.7%
Explanation:
Standard deviation of portfolio = √(Weight of A² * Standard deviation of A² + Weight of B² * Standard deviation of B² + 2 * Weight of A * Weight of B * Correlation coefficient of A and B * Standard deviation of A * Standard deviation of B)
= √(30%² * 36%² + 70%² * 16%² + 2 * 30% * 70% * 0.30 * 36% * 16%)
= √0.0314656
= 17.7%
Coordination refers to ________. a. identifying the span of control within an organization b. portioning the performance of specific tasks c. assigning tasks to qualified managers d. linking various value activities within an organization
Answer:
d. linking various value activities within an organization.
Explanation:
A functional (departmental) organizational structure is a type of structure used to organize staffs by dividing them into various departments based on their skill set, roles or functions and knowledge.
These departments which are vertically structured may include, finance, IT, sales and marketing, research and development, customer service etc. Also, the various departments are headed by a functional manager who are saddled with the responsibility of overseeing, managing and reporting to the executive management.
The employees in companies engaged in a single line of business are generally referred to as silos because they work independently, collaborate and communicate with their colleagues in a vertical style i.e exclusively with each other.
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.
Coordination refers to linking various value activities within an organization.
Answer:
d. linking various value activities within an organization.
Explanation:
Coordination refers to linking various value activities within an organization.
What is the purpose of a W-2 form and how is it used to file taxes?
The Walking Dead Co. provides services on-account and in exchange for cash. All general ledger accounts are adjusted monthly. For September, the following information is available: Accounts Receivable on September 1st is $22,400 (debit) Allowance for Doubtful Accounts on September 1st is $4,400 (credit) Services provided during September for cash $20,000 Services provided during September on-account $45,000 During the month collections on account were $34,400 and accounts written off as uncollectible were $2,000. The Walking Dead estimates bad debts at 8% of accounts receivable. After adjusting journal entries are recorded, what is the September 30th balance in Allowance for Doubtful Accounts
Answer:
See below
Explanation:
Given that,
Accounts receivables :
Beginning balance 1 September = $22,400
Services on account = $45,000
Cash collected = $34,400
Written off accounts = $2,000
Allowance for doubtful accounts:
Beginning balance 1 September = $4,400
Adjusted balance for Allowance for doubtful accounts on 30th September
= Beginning balance 1 September - Written off accounts + Bad debt expense
= $4,400 + $2,000 + ($45,000 × 8%)
= $4,400 + $2,000 + $3,600
= $6,000
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
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.
The marketing concept emphasizes satisfying customer needs and wants. How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
Answer:
JAGAJABAAJAKABAGAHAJABSBS
Question 13 Pina Colada Corp. has the following inventory data: July 1 Beginning inventory 108 units at $19 $2052 7 Purchases 378 units at $20 7560 22 Purchases 54 units at $22 1188 $10800 A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is $3960. $3492. $3600. $3708.
Answer:
Endign inventory cost= $3,708
Explanation:
Giving the following information:
Purchases 378 units at $20
Purchases 54 units at $22
Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units incorporated into inventory:
Ending inventory in units= 180
Endign inventory cost= 54*22 + 126*20
Endign inventory cost= $3,708
Which of the following adjustments to convert net income to net cash provided by operating activities is incorrect? Add to Net Income Deduct from Net Income A. Accounts Receivable decrease increase B. Prepaid Expenses increase decrease C. Inventory decrease increase D. Accounts Payable increase decrease
Answer:
B. Prepaid Expenses increase decrease
Explanation:
When the net income would be converted to net cash provided by operating activities so the above answer would be held incorrect
As the correct adjustment would be when there is decrease in the prepaid expense so the same would be added to the net income and when it increased so the same would be deducted from the net income
Therefore, the option b is correct
Hence, the other options would be incorrect
The daily operations of a corporation involved in producing and selling its product, generating revenues, as well as fundamental management and software maintenance, are referred to as operating activities. Fabrication, marketing, promotion, and branding are all important aspects of a company's operations.
The correct answer that is not in the context of the operating activities is B. Prepaid Expenses increase decrease
When net income is converted to net cash generated by operational operations, the answer given above is erroneous.
As the appropriate correction, when the prepaid expense lowers, it is credited to the net revenue, and when it grows, it is removed from the net earnings.
Therefore, option b is the correct answer.
To know more about the adjustments of the operating activities, refer to the link below:
https://brainly.com/question/25656124
ABC Company has the following trial balances on 12/31/20x1 and 12/31/20x0: December 31 20x120x0 Cash35,00032,000 Accounts Receivable22,00018,000 Inventory31,00040,000 Property10,00010,000 Plant and equipment100,00082,000 Accumulated depreciation, plant assets(20,000)(14,000) Accounts Payable(25,000)(15,000) Other current liabilities(6,000)(5,000) Bonds Payable(50,000)(50,000) Common Stock(10,000)(10,000) Retained Earnings(40,000)(30,000) Dividends declared2,0002,000 Sales revenue(200,000)(184,000) Cost of Goods Sold120,000100,000 Selling expenses20,00015,000 General and administrative expenses10,0008,000 Interest Expense10001000 What is the cash outflow for merchandise
Answer and Explanation:
The computation of the cash outflow for merchandise is shown below:
Cost of Goods Sold $120,000
Less: Decrease in Inventory -$9,000
Purchases $111,000
Less: Increase in Accounts Payable -$10,000
Cash paid for Merchandise Inventory $121000
Hence, the cash outflow for merchandise is $121,000
The above format should be applied
On January 1, 2019, Agree Company issued $85,000 offive-year, 8% bonds when the market interest rate was 12%. The issue price of the bonds was $62,401. Agree uses theeffective-interest method of amortization for bond discount. Semiannual interest payments are made on June 30 and December 31 of each year. Which of the following is the correct journal entry to record the first interest payment? (Round all amounts to the nearest whole dollar.)
A. Interest Expense 3,400 Discount on Bonds Payable 1,700 Cash 5,100
B. Interest Expense 5,100 Cash 5,100
C. Interest Expense 3,744 Discount on Bonds Payable 344 Cash 3,400
D. Interest Expense 5,100 Discount on Bonds Payable3,400 Cash 1,700
Answer:
c. Interest Expenses $ 3,744 Discount on Bonds Payable 344 Cash 3,400
Explanation:
Date General Journal Debit Credit
Interest Expenses $3,744
($62,401*12%*6/12)
Discount on Bonds Payable $344
Cash $3,400
($85,000*8%*6/12)
So, the correct journal entry to record the first interest payment is Interest Expenses $3,744, Discount on Bonds Payable $344, Cash $3,400
Selected information from Jacklyn Hyde Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to retire notes $ 94 Common shares acquired for treasury 154 Proceeds from issuance of preferred stock 218 Proceeds from issuance of subordinated bonds 274 Cash dividends paid on preferred stock 77 Cash interest paid to bondholders 107 In its statement of cash flows, Jacklyn Hyde should report net cash inflows from financing activities of: Multiple Choice $325 million. $167 million. $218 million. $64 million.
Answer:
$167 million
Explanation:
Particulars Amount ($ millions)
Cash paid to retire note -94
Less: Common shares acquired for treasury -154
Add: Proceeds from issue of preferred stock 218
Add: Proceeds from issue of subordinated bonds 274
Less: Cash dividends paid on preferred stock -77
Net cash from financing activities 167
Note: Cash interest paid to bondholders belongs to Operating activity
1. The amount of income that would result from an alternative use of cash is called opportunity cost.
A. True
B. False
2. When a segment of a company is showing a net loss, it is always best to discontinue the segment in order not to continue with losses.
A. True
B. False
Answer: 1. True
2. False
Explanation:
1. Opportunity cost simply means the cost of what we've to forgo for something else. It's the amount of income which would be gotten when we use cash in an alternative way. Therefore, the answer is true.
2. A net loss occurs when the expenses are more than the income for a given period of time. Rather than discontinuing, it's required for a disclose to be made based on the rules, Therefore, the correct answer is false.
Sweet Acacia Industries closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $27,200. Notes Receivable include the following.
Date Maker Face Value Term Maturity Date Interest Rate
April 21 Coote Inc. $5,600 90 days July 20 8%
May 25 Brady Co. 8,400 60 days July 24 10%
June 30 BMG Corp. 13,200 6 months December 31 6%
During July, the following transactions were completed.
July 5 Made sales of $4,310 on Sweet Acacia Industries credit cards.
14 Made sales of $600 on Visa credit cards. The credit card service charge is 3%.
20 Received payment in full from Coote Inc. on the amount due.
24 Received payment in full from Brady Co. on the amount due.
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries.)
Answer:
Sweet Acacia Industries
Journal Entries:
July 5: Debit Cash $4,310
Credit Sales Revenue $4,310
To record sales on Sweet Acacia credit cards.
July 14: Debit Cash $582
Debit Service Charge Expense $18
Credit Sales Revenue $600
To record sales made on Visa credit cards with service charge of 3%.
July 20: Debit Cash $5,712
Credit Notes Receivable (Coote Inc.) $5,600
Credit Interest Revenue $112
To record the receipt of full payment with interest.
July 24: Debit Cash $8,540
Credit Notes Receivable (Brady Co.) $8,400
Credit Interest Revenue $140
To record the receipt of full payment with interest.
July 31: Debit Interest Receivable (BMG Corp.) $66
Credit Interest Revenue $66
To accrue interest revenue for 30 days.
Explanation:
a) Data and Calculations:
June 30 balances of Notes Receivable:
Date Maker Face Value Term Maturity Date Interest Rate
April 21 Coote Inc. $5,600 90 days July 20 8%
May 25 Brady Co. 8,400 60 days July 24 10%
June 30 BMG Corp. 13,200 6 months December 31 6%
July 5: Cash $4,310 Sales Revenue $4,310
July 14: Cash $582 Interest Expense $18 Sales Revenue $600
July 20: Cash $5,712 Notes Receivable (Coote Inc.) $5,600 Interest Revenue $112 ($5,600 * 8% * 90/360)
July 24: Cash $8,540 Notes Receivable (Brady Co.) $8,400 Interest Revenue $140 ($8,600 * 10% * 60/360)
July 31: Interest Receivable (BMG Corp.) $66 Interest Revenue $66 ($13,200 * 6% * 30/360)
Consider the following $1000 par value zero-coupon Treasury bonds: Bond Years to Maturity Yield to Maturity A 1 4.00% B 2 4.50% C 3 5.11% D 4 5.86% E 5 6.25% The expected 2-year interest rate three years from now should be __________. Enter your answer in percent to the nearest hundredth, for example if your answer is .25432, enter 25.43.
Answer: 7.98%
Explanation:
This deals with spot rates and forward rates. The 2 year interest rate three years from now is the 2 year forward rate, 3 years from now.
It can be calculated through the relationship below:
(1 + 5 year spot rate)⁵ = (1 + third year spot rate)³ * (1 + 2 year forward rate)²
(1 + 6.25%)⁵ = (1 + 5.11%)³ * (1 + 2 year forward rate)²
1.35408 = 1.161267 * (1 + 2 year forward rate)²
(1 + 2 year forward rate)² = 1.35408 / 1.161267
1 + 2 year forward rate = √1.16603675
2 year forward rate = √1.16603675 - 1
= 7.98%
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.
On Thursday, Justin flies from Baltimore (where the office for his sole proprietorship is located) to Cadiz (Spain). He conducts business on Friday and Tuesday; vacations on Saturday, Sunday, and Monday (a legal holiday in Spain); and returns to Baltimore on Thursday. Justin is scheduled to return home on Wednesday, but all flights were canceled due to bad weather. As a result, he spends Wednesday watching floor shows at a local casino. Days where travel is attempted/cancelled is counted as a travel day under tax law. Justin is self-employed.
Required:
a. For tax purposes, what portion of Justin's trip regarded as being for business?
b. Suppose Monday was not a legal holiday. Would this change your answer in part (a) ? Explain?
c. Under either part (a) or (b), how much of Justin's airfare qualifies as a deducible business expense?
Answer:
a) 100%
b) Yes
c) Total airfare
Explanation:
A) For tax purposes the portion of Justin's trip that is regarded as being for business is 100% and this is because we can consider weekends and Holidays as business days if they are preceded by a business day and also succeeded by a business day(s) also considering that Justin's flight was delayed from Wednesday to Thursday
B) Yes it will affect my answer because it would mean that Saturday, Sunday and Monday will become Non-business days
C) The total cost of the Airfare qualifies as deductible business expense in both A and B
Sunland Company had the following department data: Physical Units Work in process, beginning 0 Completed and transferred out 90900 Work in process, ending 7800 Materials are added at the beginning of the process. What is the total number of equivalent units for materials during the period?
Answer:
Equivalent units of production= 98,700
Explanation:
Giving the following information:
Physical Units Work in process, beginning 0
Completed and transferred out 90,900
Work in process, ending 7,800
Materials are added at the beginning of the process.
To calculate the equivalent units, we need to use the following formula:
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Equivalent units of production= 0 + 90,900 + 7,800*1
Equivalent units of production= 98,700
Because the materials are added at the beginning of the process, the percentage of completion is 100%.
Robert Nozick's direct criticism of the importance of income equality is that: a. trade performed on a cumulative basis would result in equal outcomes and opportunities for people. b. All of the answers are correct. c. peaceful trade should not be condemned even when it leads to large differences in wealth. d. equality results only from freely chosen market transactions, devoid of coercive force or fraud.
Answer: c. peaceful trade should not be condemned even when it leads to large differences in wealth.
Explanation:
Income inequality simply refers to the unevenly distribution of income in a population. It should be noted that the less equal the distribution, the higher the income inequality will be.
According to Robert Nozick, the direct criticism of the importance of income equality is that peaceful trade should not be condemned even when it leads to large differences in wealth.
Which statements describe options for exporting query data? Select all that apply.
Copy a database object and paste it into a new program.
Save the entire database as a spreadsheet.
Save a single database object in a new file type, such as .csv.
Copy the entire database and paste it into a new program.
DONE
Answer:
1)Copy a database object and paste it into a new program
3) Save a single database object in a new file type, such as .csv
Explanation:
The personnel director for Electronics Associates developed the following estimated regression equation relating an employee's score on a job satisfaction test to his or her length of service and wage rate.
= 14.4 - 8.69x1 + 13.5x2
where
x1 = length of service (years)
x2 = wage rate (dollars)
y = job satisfaction test score (higher scores indicate greater job satisfaction)
a. Interpret the coefficients in this estimated regression equation.
b. Predict the job satisfaction test score for an employee who has four years of service and makes $13.00 per hour.
Answer:
a-1. An increase in the length of service (years) by one year will lead to a reduction in the job satisfaction test score by 8.69.
a-2. An increase in the wage rate (dollars) by $1 will lead to an increase in the job satisfaction test score by 13.5.
b. The predicted score of the job satisfaction test for the employee is 155.14.
Explanation:
a. Interpret the coefficients in this estimated regression equation.
a-1. Interpretation of the coefficient of x1
From the estimated regression equation, the coefficient of x1 is -8.69. Since the coefficient of x1 is negative, it implies that an increase in the length of service (years) by one year will lead to a reduction in the job satisfaction test score by 8.69.
a-2. Interpretation of the coefficient of x2
From the estimated regression equation, the coefficient of x2 is 13.5. Since the coefficient of x2 is positive, it implies that an increase in the wage rate (dollars) by $1 will lead to an increase in the job satisfaction test score by 13.5.
b. Predict the job satisfaction test score for an employee who has four years of service and makes $13.00 per hour.
Given:
y = 14.4 - 8.69x1 + 13.5x2 ………………… (1)
where
x1 = length of service (years) = 4
x2 = wage rate (dollars) = $13
y = job satisfaction test score = ?
Substituting the values into equation (1), we have:
y = 14.4 - (8.69 * 4) + (13.5 * 13)
y = 155.14
Therefore, the predicted score of the job satisfaction test for the employee is 155.14.
What are the most relevant cultural values affecting the consumption of each of the following?
Describe how and why these values are particularly important.
Milk
Fast food
Answer:
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Explanation:
ꌚꂦ ꒒ꂦꋊꁅ ꁅꁲꐞ ꋰꂦꅏꌚꈼꌅ!!
Beacon Company is considering automating its production facility. The initial investment in automation would be $15 million, and the equipment has a useful life of 10 years with a residual value of $500,000. The company will use straight-line depreciation. Beacon could expect a production increase of 40,000 units per year and a reduction of 20 percent in the labor cost per unit.
Determine the project's accounting rate of return. (Round your answer to 2 decimal places.)
Accounting Rate of Return____________
Determine the project's payback period. (Round your answer to 2 decimal places.)
Payback Period _______________years
Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value ______________
Recalculate the NPV using a 10% discount rate. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value_________
Question Completion:
Current Proposed
no automation with automation
Production and Sales Volume 80,000 units 120,000 units
Per unit Per unit
Sales revenue $90 $7,200,000 $90 $10,800,000
Variable costs
Direct materials 18 18
Direct labor 25 20
Variable overhead 10 10
Total variable costs 53 48
Contribution per unit $37 2,960,000 $42 5,040,000
Fixed costs 1,250,000 2,350,000
Net operating income $1,710,000 $2,690,000
Answer:
Beacon Company
a. The project's accounting rate of return = Net operating income/Initial investment * 100
= $2,690,000/$15,000,000 * 100
= 17.93%
b. The project's payback period =
Initial investment/Net Annual Cash inflow
= $15,000,000/$4,140,000
= 3.62 years
c. NPV (PV factor at 15% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 5.019 20,778,660
Salvage value 500,000 0.247 123,500
NPV = $5,902,160
c. NPV (PV factor at 10% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 6.145 25,440,300
Salvage value 500,000 0.386 193,000
NPV = $10,633,300
Explanation:
a) Data and Calculations:
Initial investment cost of production facility = $15 million
Estimated useful life of equipment = 10 years
Residual value = $500,000
Annual depreciation expense = $1,450,000 ($15m - $500,000)/10
Net Annual Cash inflows = Net operating income + Depreciation
= $2,690,000 + $1,450,000 = $4,140,000
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
A factory worker makes $17.50 per hour. Next month, she will receive a 1.5% increase in her hourly rate. What will her new hourly rate be?
Answer:
$19.00
Explanation:
On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jamie was laid off from her job. On February 1, year 2, Jamie sold the home at a $45,500 gain. She sold the home because she found a new job in a different state. How much of the gain, if any, may Jamie exclude from her gross income in year 2
Answer: $31,250
Explanation:
The amount from the gain that Jamie may exclude from her gross income in year 2 will be calculated thus:
= $250,000 × 3/24
= $31,250.
Therefore, Jamie may exclude $31,250 from the gross income in year 2.
Thanks
A company is planning to purchase a machine that will cost $31,200 with a six-year life and no salvage value. The company uses straight-line depreciation. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine
Answer:
44.87%
Explanation:
Note: Missing word have been attached as picture below
Average Investment = (Initial Investment + Scrap Value) / 2
Average Investment = [$31,200 + $0] / 2
Average Investment = $31,200/2
Average Investment = $15,600
Accounting Rate of Return = Net Income/Average Investment*100
Accounting Rate of Return = $7,000/$15,600 * 100
Accounting Rate of Return = 0.44871795 * 100
Accounting Rate of Return = 44.87%
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
Think of a business concept that would be appropriate for each of the following:
1) a sole proprietorship
2) a corporation
3) a limited liability company
In your answer address the pros and cons of the business type (sole proprietorship, Corporation, LLC) and why you the believe the business concept you choose best suits that business type. You must list at least 3 pros and 3 cons for each business type.
Answer:
Sole Proprietorship: The business concept that would be suitable for this type of business would be a roadside Fruit Juice Processing business. This involves different blends of organic fruits being blended into one smooth syrup sometimes called a smoothie.This type of business is better registered under a Sole Proprietorship because, it is almost always carried out by those who are self-employed.
Pros:
It is easy to set up and has low operational and corporate costIt enjoys zero corporate business taxesthey are not required to submit annual filingsCons:
The liability is unlimited and unrestricted. This means if there is litigation against the business, the business owner if found culpable will have to defray all amounts due even with his or her personal assets if the business is unable to meet that obligationThis type of business structure will find it difficult to raise money due to the potential liability exposure Also the sole proprietor may be unable to take on business debt
2. A Limited Liability Corporation: The business concept that would be suitable for this type of entity is a Fast Food Franchise like Tastee Fried Chicken. This sort of business will involve processing chicken and other kinds of foods into wholesome dishes.