In the case above, it is by using
The Driving Aids screen that is shown in the Advanced Drive-Assist Display.The Driver Assistance menu seen under Settings in the Advanced Drive-Assist Display.What are the packages is added for Murano?Murano is known to adds a lot of feature such as new Midnight Edition package, and blackout front grille, amidst others.
Note that In the case above, it is by using
The Driving Aids screen that is shown in the Advanced Drive-Assist Display.The Driver Assistance menu seen under Settings in the Advanced Drive-Assist Display.Learn more about Cars from
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For each of the following scenarios, please decide whether there will be an increase, decrease, or no change in aggregate demand.
a. The United States government decides to increase the federal tax rate by 4% for all earners.
b. The Federal Reserve, the agency charged with regulating banking and monetary policy in the United States, decides to increase the amount of money available in the economy.
c. The newest release of the Consumer Confidence Index shows a steady increase in consumer confidence about the economy.
d. A manufacturing boom during the late 1990s has created an oversupply of tractors, a necessary implement in agricultural production.
Answer:
a. Decrease
If the Federal government increases taxes on people, they will have less money to spend and save after paying their taxes. This will reduce their consumption and investment (savings) thereby leading to a lower aggregate demand.
b. Increase
An increase in the money supply means that people will have more money to spend on goods and services. They will therefore consume more. More money in the economy reduces interest rates so people will borrow to invest more as well. These two things will combine for an increase in aggregate demand.
c. Increase
If consumers are more confident about their economy, it means they find it safe to invest in it. As they invest, the investment component of aggregate demand would rise which would increase aggregate demand.
d. Decrease
The oversupply from recent years will mean that investment required in recent years will be less. This will lead to a lower aggregate demand.
The ledger of Marigold Corp. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared.
Debit Credit
Investment in Note Receivable $22,000
Supplies 24,000
Prepaid Rent 3,600
Buildings 270,000
Accumulated Depreciation-Buildings $140,000
Unearned Service Revenue 12,000
An analysis of the company’s accounts shows the following.
1. Supplies on hand at the end of the month totaled $14,880.
2. The balance in Prepaid Rent represents 4 months of rent costs.
3. Employees were owed $2,480 related to unpaid and unrecorded salaries and wages.
4. Depreciation on buildings is $4,800 per year.
5. During the month, the company satisfied obligations worth $3,760 related to the Unearned Service Revenue account.
6. Unpaid and unrecorded maintenance and repairs costs were $1,840.
Prepare the adjusting entries at July 31 assuming that adjusting entries are made monthly.
Answer:
1. July 31
Dr Supplies expense $9,120
Cr Supplies $9,120
2. July 31
Dr Rent expense $900
Cr Prepaid rent $900
3. July 31
Dr Salaries and wages expense $2480
Cr Salaries and wages payable $2480
4. July 31
Dr Depreciation expense $400
Cr Accumulated depreciation - Building $400
5. July 31
Dr Unearned service revenue $3,760
Cr Service revenue $3,760
6. July 31
Dr Miscellaneous expense $1,840
Cr Miscellaneous expense payable $1,840
Explanation:
Preparation of the adjusting entries at July 31 assuming that adjusting entries are made monthly.
1. July 31
Dr Supplies expense $9,120
Cr Supplies $9,120
($24,000-$14,880)
(Being To record supplies expense)
2. July 31
Dr Rent expense $900
Cr Prepaid rent $900
(3,600*1/4)
(Being To record rent expense)
3. July 31
Dr Salaries and wages expense $2480
Cr Salaries and wages payable $2480
(Being To record salaries and wages expense)
4. July 31
Dr Depreciation expense $400
Cr Accumulated depreciation - Building $400
($4,800*1/12)
(BeingTo record depreciation expense)
5. July 31
Dr Unearned service revenue $3,760
Cr Service revenue $3,760
(Being To record unearned service revenue)
6. July 31
Dr Miscellaneous expense $1,840
Cr Miscellaneous expense payable $1,840
(Being To record maintenance and repairs expense)
The following information pertains to Darius Jakande's personal financial transactions. Opening Balances - December 1, 2018 Cash $14,200 Contents of Home $1,900 Automobile $19,900 House $156,900 Unpaid Accounts $6,400 Bank Loan $55,700 Transactions for the month of December 2018. 1. Paid maintenance expenses for the month of December with $800 cash. 2. Purchased a new computer worth $2,800 with cash. 3. Paid credit card liability of $6,400 (Unpaid Accounts) in full. 4. Paid telephone, electricity and water bill for December with $600 cash. 5. Purchased $2,100 of groceries and goods for personal consumption with cash. 6. Deposited $4,100 salary earned during the month. Do not enter dollar signs or commas in the input boxes. Use the negative sign for a deficit. The T-Account fields are labeled by transaction number. Record each transaction by entering the value into the corresponding T-Account field. Required a) Using the information provided, record the opening balances in the T-accounts. b) Record the transactions for the month of December in the T-accounts.
Answer:
Darius Jakande
T-accounts:a) Opening balances:
Cash
Account Title Debit Credit
Beginning balance 14,200
Contents of Home
Account Title Debit Credit
Beginning balance 1,900
Automobile
Account Title Debit Credit
Beginning balance 19,900
House
Account Title Debit Credit
Beginning balance 156,900
Unpaid Accounts
Account Title Debit Credit
Beginning balance 6,400
Bank Loan
Account Title Debit Credit
Beginning balance 55,700
Net Worth
Account Title Debit Credit
Beginning balance 130,800
b) Transactions for the month of December:
Cash
Account Title Debit Credit
Beginning balance 14,200
Maintenance expenses 800
Computer 2,800
Unpaid accounts 6,400
Utilities expenses 600
Food expenses 2,100
Salary 4,100
Contents of Home
Account Title Debit Credit
Beginning balance 1,900
Computer
Account Title Debit Credit
Cash 2,800
Automobile
Account Title Debit Credit
Beginning balance 19,900
House
Account Title Debit Credit
Beginning balance 156,900
Unpaid Accounts
Account Title Debit Credit
Beginning balance 6,400
Cash 6,400
Bank Loan
Account Title Debit Credit
Beginning balance 55,700
Net Worth
Account Title Debit Credit
Beginning balance 130,800
Salary Income
Account Title Debit Credit
Cash 4,100
Maintenance Expenses
Account Title Debit Credit
Cash 800
Utilities Expenses
Account Title Debit Credit
Cash 600
Food Expenses
Account Title Debit Credit
Cash 2,100
Explanation:
a) Data and Calculations:
Opening Balances - December 1, 2018
Cash $14,200
Contents of Home $1,900
Automobile $19,900
House $156,900
Total assets $192,900
Unpaid Accounts $6,400
Bank Loan $55,700
Total liabilities $62,100
Net Worth = $130,800 ($192,900 - $62,100)
Lucas Industries uses departmental overhead rates to allocate its manufacturing overhead to jobs. The company has two departments: Assembly and Sanding. The Assembly Department uses a departmental overhead rate of $50 per machine hour, while the Sanding Department uses a departmental overhead rate of $15 per direct labor hour. Job 603 used the following direct labor hours and machine hours in the two departments: Assembly Actual results Direct labor hours used Machine hours used The cost for direct labor is $30 per direct labor hour and the cost of the direct materials used by Job 603 is $1,400. How much manufacturing ovehead would be allocated to Job 603 using the departmental overhead rates?
A. $610
B. $330
C. $580
D. $740
Answer:
uush no entendí jajaja
Explanation:
que lastima
You have decided to undertake a project and have defined the main research question as "what are the opinions of consumers to a 20% reduction in weight, with the price remaining the same, of a pack of lucky me pancit canton?" Write a hypothesis that you could test in your project.
An article in The Globe and Mail, February 16, 2002, reported that IBM used the $300 million proceeds of a sale of one of its business units to reduce operating expenses in its fourth quarter 2001 income statement. This added about 8 cents per share to its fourth quarter earnings. As a result, IBM beat analysts' forecasts by 1 cent per share.
IBM defended its treatment by claiming that buying and selling businesses is a normal business practice, and that most of the sale proceeds related to intellectual property that it had developed. The article quotes a Merrill Lynch analyst as saying, "Our only concern is that the company could have done more to call out the magnitude of the transaction." According to the article, IBM's share price fell by 4% as a result of this news.
While not mentioned in this article, the SEC opened a preliminary inquiry into IBM's accounting practice, expressing concerns that IBM had let it be known that the reason for its higher operating earnings was tight cost controls, rather than the sale proceeds. This inquiry was subsequently dropped, but the SEC issued a bulletin reminding firms to report gains or losses on asset sales separately from operating costs.
Required
Explain why IBM's share price dropped following the Merrill Lynch analyst's comment and the news of the SEC's preliminary inquiry.
Answer:
The sale of business units are one time events that should not be common. If the only way that IBM can show profit is by selling business divisions, in a very short time it will run out of divisions to sell. A company's intrinsic value is given by its cash flows, especially the operating cash flow.
The common stock of Eddie's Engines, Inc. sells for $18 a share. The stock is expected to pay $1.58 per share next month when the annual dividend is distributed. Eddie's has established a pattern of increasing their dividends by 2.8% annually and expects to continue doing so. What is the market rate of return on this stock
Answer:
11.6%
Explanation:
Calculation for What is the market rate of return on this stock
Using this formula
Rate of return=D/P + g
Where,
D=1.58 per share
P=$18
g=.028
Let plug in the formula
Rate of return=1.58/$18+.028
Rate of return =0.088+.028
Rate of return=0.116*100
Rate of return=11.6%
Therefore the market rate of return on this stock will be 11.6%
Windsor Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 5 years and requires equal rental payments of $59,394 at the beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $270,000, an estimated useful life of 5 years, and no estimated residual value. The appropriate interest rate is 5%.
Click here to view factor tables.
Prepare Windsor’s 2019 and 2020 journal entries, assuming Windsor depreciates similar equipment it owns on a straight-line basis. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.)
Date
Account Titles and Explanation
Debit
Credit
12/31/1912/31/20 12/31/1912/31/20
enter an account title To record lease liability on December 31 2019
enter a debit amount
enter a credit amount
enter an account title To record lease liability on December 31 2019
enter a debit amount
enter a credit amount
(To record lease liability)
12/31/1912/31/20 12/31/1912/31/20
enter an account title To record lease payment on December 31 2016
enter a debit amount
enter a credit amount
enter an account title To record lease payment on December 31 2016
enter a debit amount
enter a credit amount
(To record lease payment)
12/31/1912/31/20 12/31/1912/31/20
enter an account title To record interest expense on December 31 2020
enter a debit amount
enter a credit amount
enter an account title To record interest expense on December 31 2020
enter a debit amount
enter a credit amount
enter an account title To record interest expense on December 31 2020
enter a debit amount
enter a credit amount
(To record interest expense)
12/31/1912/31/20 12/31/1912/31/20
enter an account title To record amortization of the right-of-use asset on December 31 2020
enter a debit amount
enter a credit amount
enter an account title To record amortization of the right-of-use asset on December 31 2020
enter a debit amount
enter a credit amount
(To record amortization of the right-of-use asset)
Answer:
12/31/19
Dr Right-of-Use Asset $270,000
Cr Lease liability $270,000
12/31/19
Dr Lease liability $59,394
Cr Cash $59,394
12/31/20
Dr Interest expense $10,530
Dr Lease liability $48,864
Cash $59,394
12/31/20
Dr Amortization expense $54,000
Cr Right-of-Use asset $54,000
Explanation:
Preparation of Windsor’s 2019 and 2020 journal entries
12/31/19
Dr Right-of-Use Asset $270,000
Cr Lease liability $270,000
[Being To record lease liability]
12/31/19
Dr Lease liability $59,394
Cr Cash $59,394
[Being To record lease payment]
12/31/20
Dr Interest expense $10,530
[($270,000-$59,394) x 5%]
Dr Lease liability $48,864
($59,394 -$10,530)
Cash $59,394
[Being To record interest expense]
12/31/20
Dr Amortization expense $54,000
[$270,000/5 years]
Cr Right-of-Use asset $54,000
[Being To record amortization of the right-of-use asset]
White Company has two departments, Cutting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each department. The Cutting Department bases its rate on machine-hours, and the Finishing Department bases its rate on direct labor-hours. At the beginning of the year, the company made the following estimates:
Cutting Finishing
Direct labor-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 30,000
Machine-hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48,000 5,000
Total fixed manufacturing overhead cost . . . . . . . . . . . . . . . . $264,000 $366,000
Variable manufacturing overhead per machine-hour . . . . . . ....$2.00 ______
Variable manufacturing overhead per direct labor-hour . . . . . _____ $4.00
Required:
Compute the predetermined overhead rate to be used in each department.
Answer and Explanation:
The computation of the predetermined overhead rate is shown below:
For Cutting department
= Variable manufacturing overhead per machine hour + (Total fixed manufacturing overhead ÷ machine hours)
= $2 + ($264,000 ÷ 48,000)
= $2 + $5.50
= $7.50
For finishing department
= Variable manufacturing overhead per direct labour + (Total fixed manufacturing overhead ÷ direct labor hours)
= $4 + ($366,000 ÷ 30,000)
= $4 + $12.20
= $16.20
Shauna and Danielle decided to liquidate their jointly owned corporation, Woodward Fashions Inc. (WFI). After liquidating its remaining inventory and paying off its remaining liabilities, WFI had the following tax accounting balance sheet:
FMV Adjusted Basis Appreciation
Cash $ 200,000 $ 200,000
Building 50,000 10,000 40,000
Land 150,000 90,000 60,000
Total $ 400,000 $ 300,000 $ 100,000
Under the terms of the agreement, Shauna will receive the $200,000 cash in exchange for her 50 percent interest in WFI. Shauna's tax basis in her WFI stock is $50,000. Danielle will receive the building and land in exchange for her 50 percent interest in WFI. Danielle's tax basis in her WFI stock is $100,000. Assume for purposes of this problem that the cash available to distribute to the shareholders has been reduced by any tax paid by the corporation on gain recognized as a result of the liquidation. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)
10.
value:
1.00 points
Required information
a. What amount of gain or loss does WFI recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
11.
value:
1.00 points
Required information
b. What amount of gain or loss does Shauna recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
12.
value:
1.00 points
Required information
c. What amount of gain or loss does Danielle recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
13.
value:
1.00 points
Required information
d. What is Danielle’s tax basis in the building and land after the complete liquidation?
Answer:
1. Based on the information given WFI transaction is a taxable transaction which include a recognizes gain of the amount of $40,000 on the transfer of the building as.well as gain of the amount of $60,000 on the transfer of the land.
2. Shauna will recognizes gain of the amountc of $150,000 on the transfer of her stock made to WFI calculated as ($200,000 - $50,000) .
Explanation:
1. Based on the information given WFI transaction is a taxable transaction which include a recognizes gain of the amount of $40,000 on the transfer of the building as.well as gain of the amount of $60,000 on the transfer of the land.
2. Shauna will recognizes gain of the amount of $150,000 on the transfer of her stock made to WFI calculated as ($200,000 - $50,000) .
Which of the following statements is FALSE? Group of answer choices Fundamentally, all interest rates are determined by the Federal Reserve. The Federal Reserve determines very short-term interest rates through its influence on the federal funds rate. The interest rates that are quoted by banks and other financial institutions are nominal interest rates. The interest rates that banks offer on investments or charge on loans depend on the horizon of the investment or loan.
Answer:
I think the false answer would be the first
Tesla's use of renewable energy sources is an example of which type of corporate social responsibility?
A. Responsibility to stakeholders
B. Responsibility to society
C. Corporate philanthropy
D. Environmental responsibility
Answer:
D. Environmental responsibility
Explanation:
Environmental responsibility can be defined as a set of efforts adopted by companies with the objective of reducing the negative impacts related to business activities and adopting practices aimed at environmental protection.
In the case of Tesla, the use of renewable energies is an example of environmental responsibility, as the company's focus is the production of electric vehicles, which, unlike vehicles that use fossil fuels, do not emit polluting gases that contribute to the greenhouse effect.
Therefore, Tesla offers an alternative that reduces the environmental impact of vehicles, attesting to their environmental responsibility and increasing the brand value, reliability and positioning with stakeholders, being a company aligned with the highest parameters of promoting sustainability.
The most recent financial statements for Live Co. are shown here:
Income Statement Balance Sheet
Sales $4,800 Current assets $5,102 Debt $10,201
Costs
3,168
Fixed assets 12,491 Equity 7,392
Taxable income $1,632 Total
$17,593
Total
$17,593
Taxes (34%) 555
Net income
$1,077
Assets and costs are proportional to sales. Debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. No external equity financing is possible.
Required:
What is the internal growth rate?
A. 4.48%
B. 4.58%
C. 4.38%
D. 11.36%
E. 1.87%
Answer:
The answer is "Option A".
Explanation:
Using formula:
[tex]\text{Equity Return} = \frac{ \text{Net Income}}{ \text{Total Assets}} \times 100[/tex]
[tex]= \frac{1,077}{17,593} \times 100 \\\\= 0.0612175297 \times 100\\\\= 6.12175297\\\\=6.12 \%[/tex]
[tex]\text{Calculating the Plowback Ratio} \ (b) = 1- \text{Dividend Payout Ratio}[/tex]
[tex]= 1-0.30 \\\\ = 0.70[/tex]
[tex]\text{Internal Growth Rate} = \frac{ROA \times b }{(1-ROA \times b)} \\\\[/tex]
[tex]= \frac{0.0612 \times 0.70}{(1-0.0612\times 0.70)} \\\\= \frac{0.04284}{0.95716} \\\\ =0.044754073 \\\\ =4.47\%[/tex]
if you were living in a world without a financial system ,how would you make provisions towards your retirement.
The cash account for Brentwood Bike Co. at May 1 indicated a balance of $14,780. During May, the total cash deposited was $74,870 and checks written totaled $69,550. The bank statement indicated a balance of $25,380 on May 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
Checks outstanding totaled $11,310.
A. A deposit of $9,210, representing receipts of May 31, had been made too late to appear on the bank statement.
B. The bank had collected for Brentwood Bike Co. $4,870 on a note left for collection. The face of the note was $4,490.
C. A check for $360 returned with the statement had been incorrectly charged by the bank as $630.
D. A check for $850 returned with the statement had been recorded by Brentwood Bike Co. as $580.
E. The check was for the payment of an obligation to Adkins Co. on account.
F. Bank service charges for May amounted to $60.
G. A check for $1,120 from Jennings Co. was returned by the bank because of insufficient funds.
Instructions:
1. Prepare a bank reconciliation as of May 31.
2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed.
3. If a balance sheet were prepared for Brentwood Bike Co. on May 31, what amount should be reported as cash?
Answer:
1. Bank Reconciliation Report (May)
Cash Balance according to Bank Statement $14,780
Add: Cash Deposits $74,780
Deduct outstanding checks $69,550
Adjusted Balance
Cash Balance as per company $25,380
Add: Notes and interest collected by bank $4,870
Deduct: Checks return due to insufficient fund $1,120
Bank service charges $60
error in recording checks $580
Adjusted Balance $ 78,360
Explanation:
Cash (Dr.) $5,250
Notes Receivable (Cr.) $5,000
Interest receivable (Cr.) $250
3. Curve Number and SCS Travel Time Assignment (2 pts) You need to calculate the curve number for a site which is composed of: 25 acres industrial buildings, 125 acres 1 acre lots, 60 acres parks/open space with good cover, 40 acres of commercial development, and 225 acres of meadows. The soil was determined to be 50% Sand, 25 % Silt and 25% Clay. a. Determine the Soils Type b. Determine Curve Number for AMC III.
Solution :
It is given that the soil consists of :
Sand -- 50 %
Silt -- 25 %
Clay -- 25 %
Clay is present in the soil and so it has a very slow infiltration rates when the soil is thoroughly wetted.
a). Therefore the type of soil bis HSG Group D.
b). It is give that :
Industrial building is 25 acres, i.e.
CN = 93
adjusted CN = 93 x 1 = 93
I acre lots is 125 acres, i.e.
CN = 84
Adjusted CN = 84 x 1.07 = 89.88
= 90 (approx.)
60 acres of open or park space, i.e.
CN = 80
Adjusted CN = 80 x 1.14 = 91.2
= 91 (approx.)
225 acres of the meadows
CN = 78
Adjusted CN = 78 x 1.14 = 88.92
= 89 (approx.)
Commercial development of 40 acres, i.e.
CN = 95
Adjusted CN = 95 x 1 = 95
Therefore the curve number is given by :
[tex]$=\frac{(25 \times 93)+(125 \times 90)+(60 \times 91)+(40 \times 95)+(225 \times 78)}{25+125+60+40+225}$[/tex]
[tex]$= 85.02$[/tex]
[tex]$\sim 85$[/tex]
Thus, the curve number for the site for AMC III = 85
Answer:
It is given that the soil consists of :
Sand -- 50 %
Silt -- 25 %
Clay -- 25 %
Clay is present in the soil and so it has a very slow infiltration rates when the soil is thoroughly wetted.
a). Therefore the type of soil bis HSG Group D.
b). It is give that :
Industrial building is 25 acres, i.e.
CN = 93
adjusted CN = 93 x 1 = 93
I acre lots is 125 acres, i.e.
CN = 84
Adjusted CN = 84 x 1.07 = 89.88
= 90 (approx.)
60 acres of open or park space, i.e.
CN = 80
Adjusted CN = 80 x 1.14 = 91.2
= 91 (approx.)
225 acres of the meadows
CN = 78
Adjusted CN = 78 x 1.14 = 88.92
= 89 (approx.)
Commercial development of 40 acres, i.e.
CN = 95
Adjusted CN = 95 x 1 = 95
Therefore the curve number is given by :
Thus, the curve number for the site for AMC III = 85
Explanation:
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GOP as part of consumption (C), investment (), government purchases (G), exports (X), or imports (M).
a. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
b. Sam's employer upgrades all of its computer systems using U.S-made parts.
c. Teresa's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
d. Sam buys a sweater made in Guatemala.
e. Teresa gets a new refrigerator made in the United States.
Answer:
a. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. - Gonverment purchases (G)
Government purchases include all expenses incurred by the government, like investment in public roads or public schools. It does not include transfer payments like social security or medicare though.
b. Sam's employer upgrades all of its computer systems using U.S-made parts. - Investment (I)
Investment includes all purchases made by private firms with the goal of increasing their assets, and economic profit.
c. Teresa's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. - exports (X)
Exports are all goods and services, produced domestically (Vermont) and sold abroad (Sweden).
d. Sam buys a sweater made in Guatemala. - imports (M).
Imports are all goods and services, produced abroad (Guatemala), and consumed by domestic individuals or firms (Sam)
e. Teresa gets a new refrigerator made in the United States. - consumption (c)
Consumption includes all goods and services purchased by individuals and households in the United States.
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
Sales Mix
Unit Contribution
Margin
Lawnmowers 20 % $30
Weed-trimmers 50 % $20
Chainsaws 30 % $40
Yard Tools has fixed costs of $4,200,000.
Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix. (Use Weighted-Average Contribution Margin Ratio rounded to 2 decimal places e.g. 0.25 and round final answers to 0 decimal places, e.g. 2,510.)
Lawnmowers
units
Weed-trimmers
units
Chainsaws
units
Answer:
Lawnmowers= 30,000
Weed-trimmers= 75,000
Chainsaws= 45,000
Explanation:
First, we need to calculate the weighted average contribution margin:
Weighted average contribution margin= sales proportion*unitary contribution margin
Weighted average contribution margin= (0.2*30) + (0.5*20) + (0.3*40)
Weighted average contribution margin= $28
Now, the break-even point in units for the whole company:
Break-even point (units)= Total fixed costs / Weighted average contribution margin
Break-even point (units)= 4,200,000 / 28
Break-even point (units)= 150,000
Finally, the number of units to be sold for each product:
Lawnmowers= 0.20*150,000= 30,000
Weed-trimmers= 0.5*150,000= 75,000
Chainsaws= 0.3*150,000= 45,000
Public corporations:
a. are businesses where stock is not used as evidence of ownership.
b. are businesses whose stock is bought and sold privately.
c. are businesses owned by two or more people, each of whom is personally liable for the debts of the business.
d. None of other choices are correct.
e. are businesses whose stock is bought and sold on New York stock exchange only
Answer:
d. None of other choices are correct.
Explanation:
A public corporation is a corporation and treated as an individual in the laws eyes that is different from the large shareholders as they have invested the money in order to exchange the shares. Also it has duties and rights plus it can hold and accept the shares that are traded in a freely manner in the stock exchange. It would be traded not only new york stock exchange but also other stock exchange also
Amazon Inc. is one of the world's leading e-commerce companies, with almost $120 billion in revenues for the fiscal year ended December 31, 2017. For the year ended December 31, 2017, Amazon's cost of goods sold was $111,934 million. Assume that all purchases were made on account. The following T-accounts reflect information contained in the company's 2017 and 2016 balance sheets (in millions).
Inventories Account payable
12/31/2016 Bal. $11,461 $25,309 12/31/2016 Bal.
12/31/2017 Bal. $16,047 $34,616 12/31/2017 Bal.
Required:
a. Prepare the entry, using the financial statement effects template and in journal entry form, to record cost of goods sold for the year ended December 3 1 , 2017.
b. Prepare the entry, using the financial statement effects template and in journal entry form, to record Amazon's inventory purchases for the year ended December 31, 2017. (Assume all purchases are made on account.)
c. What amount did Amazon pay in cash to its suppliers for the year ended December 3 1 , 2017?
Answer:
a. Date Accounts Title & Explanation Debit $'m Credit $'m
Dec 31, 2017 Cost of Goods Sold $111,934
Inventories $111,934
(COGS recorded for 2017 sale)
b. Date Accounts Title & Explanation Debit $'m Credit $'m
Dec 31, 2017 Inventories $116,520
Accounts Payable $116,520
(Inventories purchased in 2017)
Inventory Purchases = COGS + Closing Inventory - Opening Inventory = $111,934 + $16,047 - $11,461 = $116,520
c. Date Accounts Title & Explanation Debit $'m Credit $'m
Dec 31 2017 Accounts Payable $107,213
Cash $107,213
(Payment to suppliers for 2017 purchases)
Payment to suppliers = Purchases + Opening AP balance - Closing AP Balance = $116,520 + $25,309 - $34,616 = $107,213.
The legal system affects corporate America in which of the following ways?
A. It operates on the periphery and does not affect the core activities of doing business.
B. Its involvement is generally limited to forming corporations or partnerships, providing for investment capital, and drafting contracts with CEOs.
C. The legal system does not necessarily facilitate or stabilize commercial practice.
D. The legal system has moved closer to the core activities of conducting business and succeeding in a competitive environment.
Answer:
C. The legal system does not necessarily facilitate or stabilize commercial practice.
Explanation:
The government of the United States is a federal system in nature. It has a written system and a common law legal system. The "legal system" of American is based on the system of federalism or the decentralization system.
The legal system for America on the other hand is for interpreting and enforcing the law. Advance development in the political and legal system may increase the risk of the country. Thus the legal system of America does not facilitate or the stabilize any commercial practice in america.
You are looking at a one-year loan of $26,000. The interest rate is quoted as 11 percent plus two points. A point on a loan is 1 percent (one percentage point) of the loan amount. Quotes similar to this one are common with home mortgages. The interest rate quotation in this example requires the borrower to pay two points to the lender up front and repay the loan later with 11 percent interest.
What rate would you actually be paying here? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Interest rate %
Answer:
the rate of interest is 13.27%
Explanation:
The computation of the actual rate paid is shown below;
Present value is
= $26,000 - 2% of $26,000
= $26,000 - $520
= $25,480
The future value is
= $26,000 × (1 + 0.11)
= $28,860
Now as we know that
Future value = Present value × (1 + rate of interest)^number of years
$28,860 = $25,480 × (1 + rate of interest)
So, the rate of interest is 13.27%
it is a type of business that keeps the dealings,assets,and bank accounts seperate from his/her personal assets?
Answer:
A sole proprietorship
Explanation:
A sole proprietorship is a business owned, organized, and run by a sole proprietor. It is legally advisable that all business and private activities of any form of business are conducted separately. Commingling business dealings, assets, and especially bank accounts with private affairs do cause problems for the business person.
Question Mode Multiple Select Question Select all that apply At the end of the previous year, a customer owed Chocolates R US $500. On January 31 of the current year, the customer paid $900 total, which included the $500 owed plus $400 owed for the current month of January. What would be the journal entry on January 31 that reflects this
Answer:
January 31
Dr Cash $900.
Cr Service revenue $400.
Cr Accounts receivable $500.
Explanation:
Preparation of the journal entry
Based on the information given What would be the journal entry on January 31 that reflects this are :
January 31
Dr Cash $900.
Cr Service revenue $400.
Cr Accounts receivable $500.
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon. Molly is trying to talk Sharon into going to the dance with her brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law and proceeds to write several citations to her. Which of the following is true regarding Molly's predicament?
A. Public law only.
B. Private law only.
C. Public law, private law, civil law, and criminal law.
D. Criminal law and public law only.
E. Civil law and private law only.
Answer:
C.
Explanation:
Under civil law, Molly has caused damages to sam's car and she has to be held liable for this.
She has also violated criminal law as her action is against the public as a unit. She violated this by driving and endangering the lives of people by talking on phone while driving.
She has also violated public alw as criminal law is one of the types of public law.
She is in violation of private law by causing damages to sam's car. Private law has to do with the relationship existing between people, one of such example is the law of property.
Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment:
Sales $ 12,755,000
Gross profit 5,359,700
Indirect labor 422,600
Indirect materials 185,500
Other factory overhead 834,900
Materials purchased 4,251,600
Total manufacturing costs for the period 8,122,000
Materials inventory, end of period 298,900
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Determine the following amounts. Round your answers to the nearest dollar.
Cost of goods sold $_______
Direct materials cost $________
Direct labor cost $_______.
Answer:
Cost of goods sold= $7,395,300
Direct material cost= $3,727,200
Direct labor cost= $3,137,300
Explanation:
A. Calculation to Determine Cost of goods sold using this formula
Cost of goods sold = Sales - Gross Profit
Let plug in the formula
Cost of goods sold= $ 12,755,000 - 5,359,700
Cost of goods sold= $7,395,300
Therefore Cost of goods sold will be $7,395,300
B. Calculation to Determine Direct material cost using this formula
Direct material cost= Material purchased - Indirect materials - Material Inventory, end of period
Let plug in the formula
Direct material cost= 4,251,600 - 185,500 - 298,900
Direct material cost= $3,727,200
Therefore Direct material cost will be $3,727,200
c. Calculation to determine Direct labor cost using this formula
Direct labor cost= Total manufacturing cost - Direct material costs - other factory overhead - Indirect labor
Let plug in the formula
Direct labor cost= 8,122,000 - $3,727,200 - 834,900 - 422,600
Direct labor cost= $3,137,300
Therefore Direct labor cost will be $3,137,300
Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor.
Country Corn (Bushels per hour of labor) Jeans (Pairs per hour of labor)
Euphoria 4 16
Contente 6 12
Initially, suppose Contente uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Euphoria uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Euphoria produces 12 million pairs of jeans and 16 million bushels of corn, and Contente produces 6 million pairs of jeans and 36 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.
Euphoria's opportunity cost of producing 1 bushel of corn is___________ pair of jeans, and Contente's opportunity cost of producing 1 bushel of corn is__________ pair of jeans. Therefore,___________ has a comparative advantage in the production of corn, and__________ has a comparative advantage in the production of jeans.
Answer:
4
2
Contente
Euphoria
Explanation:
Euphoria's opportunity cost of producing 1 bushel of corn is [tex]\frac{16}{4}[/tex] = 4 pair of jeans, and Contente's opportunity cost of producing 1 bushel of corn is [tex]\frac{12}{6}[/tex] = 2 pair of jeans. Therefore, Contente has a comparative advantage in the production of corn, and Euphoria has a comparative advantage in the production of jeans.
2. What are the advantages/disadvantages of being right-brain thinker in terms of the
capabilities?
Answer:
The answer is below
Explanation:
Advantages of being a right thinker in terms of the capabilities are:
Such person possesses these abilities:
1. creativity
2. free-thinking ability
3. ability to see the big picture
4. spontaneous ability
5. inclined to visualize the situation.
Disadvantages may include the following
1. Not strong in the area of analytical thinking;
2. Les logical evaluation;
3. less detail- and fact-oriented
numerical
Rose Riley's parents have booked and paid for a family trip to Aspen, Colorado, during her spring break. Rose's friends recently decided to drive to Destin, Florida, for spring break. Rose needs to decide whether to join her parents in Aspen or drive to the beach with her friends. The opportunity costs of joining her friends on the trip to Destin include each of the following except:____.
a. her parents' anger if she skips the family trip to Aspen.
b. her contribution to gas money for the drive to Destin.
c. the hotel costs she will split with her friends in Destin.
d. the ski lift ticket her parents have already purchased for her.
Answer:
D.
Explanation:
The opportunity cost is the cost or the costs that she would be incurring for foregoing the trip to aspen colorado with her family members. Options A, b and c are all opportunity costs of not going on this trip.
Therefore the answer is option d.
A company that makes fasteners and sells them to many different
manufacturing companies around the world would most likely benefit from
using which distribution channel?
A. Producer to wholesaler to business buyers
B. Producer to business buyers
C. Producer to wholesaler to consumers
D. Producer to retailers to business buyers
Answer:
A
Explanation:
A. Producer to wholesaler to business buyers