Blossom Corp is issuing a 10-year bond with a coupon rate of 11 percent. The interest rate for similar bonds is currently 7 percent. Assuming annual payments, what is the value of the bond

Answers

Answer 1

Answer:

$1,280.94

Explanation:

FV= $1000

PMT = 11% * $1000  = $110

N = 10 Years

I/Y = 7%

Using Excel, Present value of bond ($1,000, $110, 10, 7%) = $1280.9433

Hence, the present value of bond = $1,280.94


Related Questions

For each of the following incidents, determine whether the individuals will be motivated to behave as desired.
Frank Edwards is head basketball coach at a small regional state university, a campus of the state’s main university system. He has just had a visit with Walter Johnson, a local high school athlete who is clearly one of the state’s blue chip basketball prospects. Frank desperately needs a player of Walter’s potential to turn his mediocre team around, but he realizes that it won’t be easy to sign him. He is confident that he made it clear to Walter that there is a scholarship available for Walter if he wants it. He also knows that Walter needs a scholarship to be able to go to college. However, an article in the Sunday Sports section reports that two of the major state university coaches (larger schools upstate, with nationally known basketball programs) also intend to actively recruit Walter. Coach Edwards should take which of the following actions?
A. Send Walter a written and notarized offer of the scholarship.B. Write Walter's parents, stressing that the scholarship will cover all of his tuition, room and board, and book expenses.C. Write a letter to Walter stressing to him the value of a college education.D. Talk to Walter again, stressing the likelihood that he would make the starting five in his freshman year.E. Do nothing. Walter will probably sign with him anyway.

Answers

Answer:

C). Write a letter to Walter stressing to him the value of a college education.

Explanation:

The most ethical and moral action that Coach Edward should take in the given situation would be to 'write a letter to Walter stressing to him the value/significance of college education.' It would not only educate Walter regarding the crucial role that college education plays in defining the success and personality of an individual but also emphasize the benefits of joining the college team which would be vital to his overall career and give a direction to his skills. Thus, this would serve Coach Edwards' purpose ethically by making Walter understand the idea logically and convince him. Therefore, option C is the correct answer.

A local taxi company advertises being able to make cabs available to riders within 5 minutes. They have recruited several cab drivers to ensure that they meet this promise. Which dimension of the customer utility function they are appealing to

Answers

Answer:

The correct answer is:

Timing

Explanation:

The utility function measures the level of satisfaction or the welfare of a consumer, as a function of the consumption of real goods or services. The dimensions of consumer utility function include; Fit, Timing, Location, performance, and price.

Fit: This has to do with the design of a product, satisfying a context-specific problem. That is the product "fits" the need of the consumer

Timing: This covers the length of time between when the consumer places an order to when the order arrives. A short timing is satisfying to the consumer. In this example, the timing of 5 minutes or comparatively ideal for cabs being available to riders.

Location: The location entails the extent of coverage within a country or region that the product can be accessed. Particularly in rural settings.

Performance: performance has to do with the efficiency of the product/service in the process of it being used

Price: price is the amount at which the product is made available to the consumers.

Read the rejection follow-up letter, and answer the following question. Dear Ms. Gonzalez: Although I am disappointed to hear that you have selected another candidate for the marketing position, I appreciate your prompt and courteous communication. Because I believe I have the organizational and technical skills needed to work in a growing company like EdCo, I hope you will keep my résumé in your active file. My desire to work for your company remains strong. I enjoyed meeting with you, and I appreciate your thorough explanation of your company's growth and future goals. To enhance my qualifications, I have enrolled in a course on Intercultural Communication in the Workplace at ZSU. If you have an opening for a position I am qualified for, please contact me at (345) 435-3532. I will contact you in the next month to discuss employment possibilities. Sincerely, Janet Havasu What is effective about the letter? It uses memo format. It asks specific questions about the position. It refers to specifics in the applicant's interview. When writing a letter turning down a job offer, what guideline should you follow? Include specific reasons why you didn't like the job. Compose your message on personal stationery. Express gratitude and best wishes for the future.

Answers

Answer:

Rejection Follow-up Letter

1. What is effective about the letter?

It refers to specifics in the applicant's interview.

2. When writing a letter turning down a job offer, what guideline should you follow?

Express gratitude and best wishes for the future.

Explanation:

Follow-up letters or notes are important in job interviews situations.  They are used to express gratitude to the interviewer for the opportunity to interview for the position.  Even when a job is not offered to a candidate, it is still good practice to write, expressing gratitude for being informed of the latest development.  This creates the chance for the candidate to position herself as a person who possesses employable personality.  A candidate, who rejects a job offer, should also express gratitude for the offer.  She should not delve into the reasons for not accepting the offer, as this is not considered appropriate.

On December 31, 2017, Wayne Sparks Company had 600,000 shares of common stock issued and outstanding. Sparks issued a 5% stock dividend on June 30, 2018. On September 30, 2018, 20,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2018

Answers

Answer: $625,000

Explanation:

The number of shares to use will be the Weighted average of the number of common shares in the company as at December 2018.

5% stock had been issued so common stock increases to;

= 600,000 * ( 1 + 5%)

= 630,000 shares

The treasury stock is to be deducted from the amount above and was only reacquired on Sept. 30 so the weighted average is;

= 20,000 * 3/12 months

= 5,000 shares

Number of shares = 630,000 - 5,000 = $625,000

Statements of financial position on December 31, Year 1, and December 31, Year 2, are presented below.
Dec 31, Dec. 31,
Year 1 Year 2
Assets
Cash 50,000 $ 60,000
Accounts receivable 95,000 89,000
Allowance for uncollectible accounts (4.000) (3.000)
Inventory 120,000 140,000
Property, plant, and equipment 295,000 340,000
Accumulated depreciation (102,000) (119.000)
Total Assets $ 454.000 $507.000
Liabilities and equity:
Trade accounts payable $ 62,000 $ 49,000
Interest payable 8,000 11.000
Bonds payable 200,000 200,000
Unamortized bond discount (15,000) (10,000)
Equity 199,000 257,000
Total liabilities and equity $454,000 $507,000
Additional information for Year 2:
1. Sales revenue was $338,000
2. $3.000 of accounts receivable was written off
Cash collections from customers in Year 2 were 200.00 332
A. $344,000
B. $341,000
C. $335.000
D. $338,000

Answers

Answer:

Cash collections from customers in Year 2 were:

B. $341,000

Explanation:

a) Data and Calculations:

Statements of Financial Position on December 31, Year 1 and Year 2:

                                                              Year 1     Year 2

Assets

Cash                                                     50,000   $ 60,000

Accounts receivable                            95,000      89,000

Allowance for uncollectible accounts (4.000)       (3.000)

Inventory                                            120,000      140,000

Property, plant, and equipment       295,000    340,000

Accumulated depreciation               (102,000)   (119.000)

Total Assets                                   $ 454.000  $507.000

Liabilities and equity:

Trade accounts payable                $ 62,000    $ 49,000

Interest payable                                   8,000         11.000

Bonds payable                                200,000     200,000

Unamortized bond discount            (15,000)      (10,000)

Equity                                               199,000     257,000

Total liabilities and equity            $454,000  $507,000

Calculation of cash collected from customers in Year 2:

                                                              Year 1     Year 2

Accounts receivable                           95,000    89,000

Sales revenue                                   338,000

Uncollectible written off                      (3,000)

Balance at the end of year 2            (89,000)

Cash collections =                          $341,000

b) The cash collected from customers is the difference between Beginning accounts receivable, credit sales (sales revenue), written off uncollectible, and the balance at the end of year 2.

Telecomp is a U.S.-based manufacturer of cellular telephones. It is planning to build a new manufacturing and distribution facility in either South Korea, China, Taiwan, Poland, or Mexico. The cost of the facility will differ between countries and will even vary within countries depending on the economic and political climate, including monetary exchange rates. The company has estimated the facility cost (in $ millions) in each country under three different future economic/political climates as follows.Economic/Political Climate Country Decline Same Improve South Korea 21.7 19.1 15.2 China 19.0 18.5 17.6 Taiwan 19.2 17.1 14.9 Poland 22.5 16.8 13.8 Mexico 25.0 21.2 12.5 Determine the best decision using the following decision criteria. (Note that since the payoff is cost, the maximax criteria becomes minimax and maximin becomes minimax.)
a. Maximin
b. Minimax
c. Hurwicz ( 0.40)
d. Equal likelihood

Answers

Answer:

a. Maximin =  19.0

b. Minimax  = 17.6

c. Hurwicz ( 0.40)  = Taiwan

d. Equal likelihood = Taiwan

Explanation:

Remember, we are told to: Note that since the payoff is cost, the maximax criteria becomes minimax and maximin becomes minimax

a) Maximin: Since the payoff is cost, we begin by determining the maximum cost for each alternative and then selecting the one which gives the minimum of these maximums. (minimax)

b) Minimax: Since the payoff is cost, we begin by determining the minimum cost for each alternative and then selecting the one which gives the maximum of these minimums. (maximin).

c) Hurwicz (0.40): In this method, we add and multiply each payoff value by alpha (0.4).

South Korea = 15.2 (0.4) + 21.7 (0.6) = 19.1 ( remember, in $ millions)

China = 17.6 (0.4) + 19.0 (0.6) = 18.44

Taiwan = 14.9 (0.4) + 19.2 (0.6) = 17.48

Poland = 13.8 (0.4) + 22.5 (0.6) = 19.02

Mexico = 12.5 (0.4) + 25.0 (0.6) = 20

From the values above we select the minimum outcome since the company is looking at saving cost. Which is Taiwan; having the lowest cost of $17.48 million.

d) Using the formula [tex]\frac{P_{1} +P_{2}+P_{3}...P_{n} }{n}[/tex] where P = payoffs value, n = number of events.

South Korea =  15.2 + 21.7 + 19.1 /3 = 18.66

China = 17.6 + 19.0 + 18.5 /3 = 18.36

Taiwan = 14.9 + 19.2 +17.1 /3 = 17.06

Poland = 13.8 + 22.5 + 16.8 /3 = 17.7

Mexico = 12.5 + 25.0 + 21.2 /3 = 19.56

Taiwan should be selected since it has the lowest cost of $17.06 million.

In a Las Vegas casino, an employee discovered a flaw in the accounting system. The accounts payable clerk discovered that he was able to change the names of vendors in the computer system to his name. As a result, the employee could create false invoices and then cut a check for the false invoice. The name on the check would be changed to the name of the employee. After the check was printed, the name in the system could then be changed back to the appropriate vendor. The check register would show only the name of the vendor. The fraudulent employee had authorization to sign checks under $1,000. By writing small checks, the employee was able to defraud the company of $10,000. This fraud was caught by accident then the employee of another department was looking through the vendor list on her computer after the fraudulent employee had changed the vendor name to his name. A few entries later, the vendor name changed again. She wondered how this could occur and asked her supervisor. Soon after, the fraudulent employee was caught.
1. What kind of fraud is being committed?2. What percent of frauds are of this type?3. How could this fraud have been prevented?

Answers

Answer:

- This type of fraud is check tampering

- It amounts to 20.1% of fraud cases in small businesses, and 8.4% of fraud in large businesses

- This type of fraud can be prevented by rotating employees that handle check issuance to vendors, review of budget versus actual expenditure, monitoring of audit trail to see if beneficiary was changed, daily statement download for reconciliation, and restriction of functions for example a employee that issues checks should not also reconcile bank statement.

Explanation:

Check tampering is a very common fraud that involves changing the beneficiary of a valid check so that funds can be diverted.

In the given scenario the accounts payable clerk was able to change checks to his name in order to divert $10,000. This was only discovered by chance when an employee noticed the change in name.

Various internal control measures can be taken to prevent this and they are listed above

Robert has set-up a start-up business. You have been appointed as an accountant for his business. Prepare journal entries for the following
transactions
1. On January 1, 2015, Robert invested $50,000 in his business.
2. On January 4, 2015, Robert bought a laptop for $2,800 for business use.
3. On January 20, 2015, Robert received $13,000 for services rendered.
4. On January 23, 2015, Robert paid salaries to his staff for $3,500

Answers

Answer:

On January 1, 2015, Robert invested $50,000 in his business.

Date Account Debit Credit

January 1, 2015 Cash  

                                            50,000

January 1, 2015 Cash  

50,000

On January 4, 2015, Robert bought a laptop for $2,800 for business use.

Date Account Debit Credit

January 4, 2015 Office Computer  

2,800

January 4, 2015 Cash  

2,800

On January 20, 2015, Robert received $13,000 for services rendered.

Date Account Debit Credit

January 20, 2015 Cash  

13,000

January 20, 2015 Revenue  

13,000

On January 23, 2015, Robert paid salaries to his staff for $3,500.

Date Account Debit Credit

January 23, 2015 Salaries  

3,500

January 23, 2015 Cash  

3,500

Explanation:

I am not a very adventurous person on the job.

Answers

what is the question supposed to be?

The adjective in your statement is "adventurous."  It depicts the sort of individual you are, showing that you are not leaned to face challenges or search out new encounters in your work.

A Adjectives is a word that depicts or changes a thing or pronoun. It gives extra data about the thing or pronoun by giving insights regarding its quality, size, shape, variety, and so forth. Modifiers can be utilized to improve depictions and give more clear and explicit implications.

Adjectives are utilized to give more data about things or pronouns in a sentence. Generally, descriptive words assume a vital part in adding profundity, explicitness, and subtlety to our language, permitting us to communicate an extensive variety of data about our general surroundings.

Learn more about adjective from:

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#SPJ6

Your question is incomplete, probably the complete question is-

I am not a very adventurous person on the job. What is the adjective here?

A 50-kilowatt gas turbine has an investment cost of $40,000. It costs another $14,000 for shipping, insurance, site preparation, fuel lines, and fuel storage tanks. The operation and maintenance expense for this turbine is $450 per year. Additionally, the hourly fuel expense for running the turbine is $7.50 per hour, and the turbine is expected to operate 3,000 hours each year. The cost of dismantling and disposing of the turbine at the end of its 8-year life is $8,000.

Required:
a. If the MARR is 15% per year, what is the annual equivalent life-cycle cost of the gas turbine?
b. What percent of annual life-cycle cost is related to fuel?

Answers

Answer:

The annual equivalent life-cycle cost (AW) of gas turbine = -$35,569.8

The percentage  fuel cost = 63.25%

Explanation:

From the given information:

Let's start with the initial investment cost, which can be expressed by using the formula:

Initial investment cost = Investment cost of turbine + cost including shipping,  insurance, site preparation, fuel lines, and fuel storage tanks.)

Initial investment cost = $40,000 + $14000

Initial investment cost = $54000

However, The annual fuel expense = hourly fuel expense for running turbine × total number of operating hour per year

The annual fuel expense = $7.50 × 3000

The annual fuel expense = $22,500

Therefore, the total operating cost per year = operating & maintenance cost per year + fuel expenses per year

the total operating cost per year = $(450 + 22500)

the total operating cost per year = $22,950

If the minimum acceptable rate of return MARR is 15%, then the number of years is 8 years

Therefore, the annual equivalent life-cycle cost (AC) of the gas turbine can be computed as follows:

AC(15%) = -54000 (A/P, 15%, 8) - $22950-$8000(A/F,15%,8)

where;

(A/P,15%,8) = annual worth factor of a present worth

(A/F,15%,8) = annual worth factor of future worth for 8 years and 15% interest rate.

If we use the discrete compounding table when i = 15%;

Value of (A/P,15%,8) = 0.229

Value of (A/F,15%,8) = 0.0729

AC(15%) = -$54,000(0.2229) - $22,950 -$8000(0.0729)

AC(15%) = -$12,036.6 -$22950 -$583.2

AC(15%) = -$35,569.8

Therefore, the annual equivalent life-cycle cost (AW) of gas turbine = -$35,569.8

b.

The percentage of the annual life-cycle cost related to the fuel can be calculated by using the formula :

[tex]\mathbf{\% \ fuel \ cost = \dfrac{fuel \ cost \ per \ year}{total \ annual \ life \ cycle \ cost }\times 100\%}[/tex]

Replacing our values from above, we have:

[tex]\mathbf{\% \ fuel \ cost = \dfrac{\$22500}{\$35,569.8}\times 100\%}[/tex]

[tex]\mathbf{\% \ fuel \ cost = 0.6325\times 100\%}[/tex]

The percentage  fuel cost = 63.25%

Based on the given information, the annual equivalent life-cycle cost of the gas turbine is "$35,569.80," while the percent of the annual life-cycle cost is related to fuel is "65.87%."

This is based on the calculation below:

Given that: Initial investment cost => Investment cost of turbine + cost including shipping, insurance, site preparation, fuel lines, and fuel storage tanks.

Hence, we have the following:

Initial investment cost = $40,000 + $14,000;

=> Initial investment cost = $54,000.

On the other hand, The annual fuel expense = hourly fuel expense for running turbine × total number of operating hour per year;

Thus, we have the following:

The annual fuel expense = $7.50 × 3,000;

The annual fuel expense = $22,500.

Also, since, the total operating cost per year = operating & maintenance cost per year + fuel expenses per year;

We have the following:

the total operating cost per year = $(450 + 22,500);

the total operating cost per year = $22,950.

Therefore, given that the minimum acceptable rate of return MARR is 15%, then the number of years is 8 years.

Then, the annual equivalent life-cycle cost (AC) of the gas turbine is measured as:

AC (15%) = -54,000 (A/P, 15%, 8) - $22,950 - $8,000 (A/F,15%,8);

Here, we have the following details;

(A/P,15%,8) = annual worth factor of a present worth;

(A/F,15%,8) = annual worth factor of future worth for 8 years and 15% interest rate.

This, given that we use the discrete compounding table when i = 15%;

We have the following:

Value of (A/P,15%,8) = 0.229;

Value of (A/F,15%,8) = 0.0729.

AC (15%) = -$54,000 (0.2229) - $22,950 -$8,000 (0.0729);

AC(15%) = -$12,036.60 -$22,950 -$583.20;

AC(15%) = -$35,569.80.

Hence, the annual equivalent life-cycle cost (AW) of gas turbine = $35,569.80.

Similarly, the percent of the annual life-cycle cost is related to fuel is measured as = ($35,569.8 ÷ $54,000) × 100

=> 65.87%.

Hence, in this case, it is concluded that the lifecycle cost is essential when measuring the productivity of a project.

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Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,950 of materials on account. Issued $16,780 in direct materials to the production department. Issued $1,340 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,020 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $32,500, which was paid in cash. Purchased miscellaneous items for the manufacturing plant for $17,250 on account. Recognized depreciation on manufacturing plant of $36,700. Applied manufacturing overhead for the month. Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annual, predetermined rate. At the beginning of the year, management estimated that direct labor costs for the year would be $434,600. Estimated overhead for the year was $412,870. The following balances appeared in the inventory accounts of Forest Components for July.
Beginning Ending
Materials Inventory ? $12,490
Work-in-Process Inventory ? 10,560
Finished Goods Inventory $2.700 6.930
Cost of Goods Sold ? 75,1000
a. Prepare Journal Entries to record these transactions (1-9)
b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold

Answers

Answer:

Forest Components

Journal Entries:

1. Debit Materials Inventory $16,950

Credit Accounts Payable $16,950

To record the purchase of materials on account.

2. Debit Work in Process Inventory $16,780

Credit Materials Inventory $16,780

To record the issue of materials to the production department.

3. Debit Manufacturing Overhead $1,340

Credit Materials Inventory $1,340

To record the issue of materials to the service department.

4. Debit Accounts Payable $16,950

Credit Cash Account $16,950

To record the payment for the materials purchased on account.

5. Debit Materials Inventory $2,020

Credit Work In Process $2,020

To record the record of materials.

6. Debit Work in Process $32,500

Credit Factory Wages $32,500

To record the direct labor cost.

7. Debit Manufacturing Overhead $17,250

Credit Accounts Payable $17,250

To record the purchase of miscellaneous items for the plant.

8. Debit Manufacturing Overhead $36,700

Credit Depreciation Expense $36,700

To record depreciation expense on manufacturing plant.

9. Debit Work In Process $30,875

Credit Manufacturing Overhead $30,875

To apply overhead for the month.

b. T-accounts:

Materials Inventory

Accounts Titles         Debit    Credit

Balance                    $12,320

Accounts Payable   $14,930

Work in Process         2,020

Work in Process Inventory    $16,780

Balance                                  $12,490

Work-in-Process Inventory

Accounts Titles         Debit    Credit

Balance                    $11,755

Materials Inventory   16,780

Materials Inventory                $2,020

Factory Wages        32,500

Overhead                30,875

Finished Goods Inventory    79,330

Balance                                  10,560

Manufacturing Overhead

Accounts Titles                 Debit    Credit

Materials Inventory         $1,340

Accounts Payable           17,250

Depreciation Expense   36,700

Work In Process                         $30,875

Finished Goods Inventory

Accounts Titles         Debit    Credit

Balance                   $2,700

Work in Process     79,330

Cost of goods sold                75,100

Balance                                 $6,930

Cost of Goods Sold

Accounts Titles         Debit    Credit

Finished Goods      75,100

Explanation:

a) Data and Calculations:

Materials Inventory                 ?         $12,490

Work-in-Process Inventory     ?           10,560

Finished Goods Inventory $2,700       6,930

Cost of Goods Sold                ?         75,1000

Predetermined overhead rate = $412,870/$434,600 = $0.95

Overhead applied = $30,875 ($0.95 * $32,500)

Your parts supplier gives you one-quarter of a year to pay for parts ordered today, or offers you a discount if you pay cash at purchase. You have just purchased $94,500 worth of parts from your supplier and the discount is at an annual rate of 10%. How much will you pay for the parts if you pay today

Answers

Answer: $92,275

Explanation:

The amount you will pay today is the present value of the purchase price given a 10% discount for a quarter of a year.

= 94,500/ (1 + 10%) ^ 1/4 year

= 92,274.91147

= $92,275

Task C has two immediate predecessors, Tasks A and B. Task C also has two immediate followers, Tasks D and E. Task A has an early finish time of 3 days, and Task B has an early finish time of 5 days. Task D has a late start time of 10 days and Task E has a late start time of 8 days. Task C is 2 days long. What is the early finish time of Task C

Answers

Answer:

7 days

Explanation:

Calculation for the early finish time of Task C

First step is to find the Early Start of task C

Using this formula

Early Start of task C = MAX (Early Finish of task A, Early Finish of task B)

Let plug in the formula

Early Start of task C= MAX(3,5)

Early Start of task C = 5

Now let calculate the Early Finish time of Task C

Using this formula

Earliest Finish = Earliest Start + Activity Duration

Let plug in the formula

Earliest Finish of task C = 5 + 2

Earliest Finish of task C = 7 days

Therefore the early finish time of Task C will be 7 days

The early finish time of task C is the sum of the early start time and the activity duration of the task. Hence, the early finish time of task C is 7 days.

Given the Parameters :

Activity time of task C = 2 days Early finish, Task A = 3 days Early finish, Task B = 5 days

The early finish time of task C :

Early start time possible + Activity time of task C

Maximum value of the finish time of the preceeding task :

Early start time of task C = maximum(3, 5)

Early start time of task C = 5 days

Early finish time of C = 5 days + Activity time

Early finish time of task C = 5 days + 2 days = 7 days

Therefore, the early finish time of task C is 7 days

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Which drawback of being an entrepreneur can disrupt your personal life?

Answers

Stress and responsibilities
Hope this helps!
I hav to give my life to my business if I’m tryna hangout but promised a restock that day I have to restock and u have to respond to demand

You predict that interest rates are about to fall. Which bond will give you the highest capital gain

Answers

Answer: d. Zero coupon, long maturity

Explanation:

It is generally held that when interest rates decrease in the market, the price of bonds will increase because people will seek bonds as they offer a steady rate of return.

A longer maturity bond will enable you to take advantage of this decrease in interest rates over a longer period because you get to discount the bond at a lower rate over a longer period so it is better.

A zero coupon long maturity bond is the best because when it is discounted at this lower rate, it will bring back a higher price than the rest of the bonds

Selected accounts from the ledger of McDaniel Corporation appear below. Indicate the nature of each account. Type Of Account

1. Supplies select a type of account
2. Notes Payable select a type of account
3. Service Revenue select a type of account
4. Dividends select a type of account
5. Accounts Payable select a type of account
6. Salaries and Wages Expense select a type of account
7. Common Stock select a type of account
8. Accounts Receivable select a type of account
9. Equipment select a type of account
10. Notes Receivable select a type of account

Answers

Answer:

1. Supplies - ASSETS

Supplies are assets and are debited when they increase.

2. Notes Payable - LIABILITIES.

Current Liabilities owed to creditors.

3. Service Revenue. REVENUE

Revenue that will go to the income statement.  

4. Dividends. EQUITY.

These are payments to Shareholders and so are Equity.

5. Accounts Payable. LIABILITY.

These are current liabilities and increase by credit.

6. Salaries and Wages Expense. EXPENSE.

These are expenses that will go to the Income Statement

7. Common Stock. EQUITY.

Common Stock is equity as it represents ownership in the company.

8. Accounts Receivable. ASSET.  

Accounts Receivables are current assets and are debited when they increase.

9. Equipment. ASSET.

Equipment are fixed assets and are debited when they increase.

10. Notes Receivable. ASSETS.

Like Receivables these are current assets and are debited when they increase.

Recording and Reporting Accrued Liabilities and Deferred Revenue with Discussion of Accrual Versus Cash Accounting
During its first year of operations, Walnut Company completed the following two transactions. The annual accounting period ends December 31.
A. Paid and recorded wages of $140,000 during Year 1; however, at the end of Year 1, three days' wages are unpaid and have not yet been recorded because the weekly payroll will not be paid to employees until January 6 of Year 2. Wages for the three days are $4,900.
B. Collected rent revenue of $4,800 on December 12 of Year 1 for office space that Walnut rented to another company. The rent collected was for 30 days from December 12 of Year 1 to January 10 of Year 2. Record the collection of rent on December 12.
Required:
1. With respect to wages, provide the adjusting entry required at the end of year 1 and the journal entry required on January 6 of year 2.
2. With respect to rent revenue, provide the journal entry for the collection of rent on December 10 and the adjusting entry required on December 31.

Answers

Answer:

Walnut Company

1. Adjusting Journal Entry:

December 31, Year 1:

Debit Wages Expense $4,900

Credit Wages Payable $4,900

To accrue unpaid wages at the end of the year.

General Journal Entry:

January 6, Year 2:

Debit Wages Payable $4,900

Credit Cash Account $4,900

To record the payment of accrued wages.

2. General Journal Entry:

December 12, Year 1:

Debit Cash Account $4,800

Credit Deferred Rent Revenue $4,800

To record the receipt of rent in advance.

Adjusting Journal Entry:

December 31, Year 1:

Debit Deferred Rent Revenue $3,200

Credit Rent Revenue $3,200

To adjust for rent revenue earned for 20 days.

Explanation:

The rent revenue of $4,800 according to the question is for 30 days.  December 12 to December 31 has 20 days while January 1 to January 10 has 10 days.  So the rent revenue for Year 1 is computed as $4,800 * 20/30 = $3,200 while the remaining balance will be for rent revenue in Year 1 ($4,800 * 10/30).

Fact Pattern: Dori Castings, a job-order shop, uses a full-absorption, standard-cost system to account for its production costs. The O/H costs are applied on a direct-labor-hour basis.
The amount of fixed factory O/H that Dori will apply to finished production is the:_______.
A. Standard allowed direct labor hours for the actual units of finished output times the standard fixed factory O/H rate per direct labor hour.
B. Actual fixed factory O/H cost per direct labor hour times the standard allowed direct labor hours.
C. Actual direct labor hours times the standard fixed factory O/H rate per direct labor hour.
D. Standard units of output for the actual direct labor hours worked times the standard fixed factory O/H rate per unit of output.

Answers

Answer:

A)Standard allowed direct labor hours for the actual units of finished output times the standard fixed factory O/H rate per direct labor hour.

Explanation:

Production cost are all cost that producer used to produce his/her goods, it could be labor cost , and other expenses.bit can be calculated by dividing the total unit produced by the cost . Or the summation of all cost such direct labor, overhead cost.

Hence, The amount of fixed factory O/H that Dori will apply to finished production is the: ""Standard allowed direct labor hours for the actual units of finished output times the standard fixed factory O/H rate per direct labor hour."" Which is option A

The auditors of Steffey Ltd., decided to study the cash receipts and disbursements for the month of July of the current year under audit. They obtained the bank reconciliations and the cash journals prepared by the company accountants, which revealed the following: June 30: Bank balance, $355,001; deposits in transit, $86,899; outstanding checks, $42,690; general ledger cash balance, $399,210. July 1: Cash receipts journal, $650,187; cash disbursements journal, $565,397. July 31: Bank balance, $506,100; deposits in transit, $51,240; outstanding checks, $73,340; general ledger cash balance, $484,000. Bank statement record of deposits: $835,846; of payments: $684,747.
Required:Prepare a four-column proof of cash covering the month of July of the current year. Identify problems, if any.

Answers

Answer:

                                     Bal. June 30   Receipts    Disbursements    Bal. July 31

Balance per Bank            355,001          835,846       684,747             506,100

Deposit in Transit

June 30                              86,899         -86,899

July 31                                                       51,240                                     51,240

Outstanding Checks

June 30                               42,690                               -42,690              

July 31                                                                               73,340             73,340

Unrecorded Receipts                              -150,000                                 -150,000  

Unrecorded Disbursement                                            -150,000          -150,000

Balance per Books          399,210         650,187          565,397           484,000

"What is the allowable MACRS depreciation on Evergreen’s property in the current year if Evergreen does not elect out of bonus depreciation?"

Answers

Answer:

the list of assets is missing, so I looked for a similar question and found the following:

MACRS depreciation for machinery is 10 years, and the depreciation % for the first year using the half year convention is 10% ⇒ depreciation expense = $70,000 x 10% = $7,000

MACRS depreciation for computer equipment is 5 years, and the depreciation % for the first year using the half year convention is 20% ⇒ depreciation expense = $10,000 x 20% = $2,000

MACRS depreciation for the delivery truck is 5 years, and the depreciation % for the first year using the half year convention is 20% ⇒ depreciation expense = $23,000 x 20% = $4,600

MACRS depreciation for furniture is 7 years, and you can use the mid-quarter convention since furniture represents more than 40% of total assets placed in to service. The depreciation % for the first year, second quarter  using the mid-quarter convention is 17.85% (the half year convention depreciation rate is 14.29%) ⇒ depreciation expense = $150,000 x 17.85% = $26,775

total depreciation expense = $40,375

A commodity’s demand causes its price to go up.
True
False

Answers

Answer:

the answer is false

Explanation:

A project has annual depreciation of $25,500, costs of $101,900, and sales of $150,500. The applicable tax rate is 34 percent. What is the operating cash flow

Answers

Answer:

$48,600

Explanation:

Operating Cash flow is the cash generated from operating/trading activities of a firm. It is very important to include only the cash transactions and ignore any non -cash items.

Thus,

Operating Cash flow = $150,500 - $101,900

                                   = $48,600

1
Type the correct answer in the box. Spell all words correctly.
What happens to your tax liability with proper financial planning?
You can
your tax liability through proper financial planning.

Answers

It goes to the government and the congress branch

Answer: minimize

Explanation:

Your parents are giving you $250 a month for 4 years while you are in college. At an interest rate of .57 percent per month, what are these payments worth to you when you first start college

Answers

Answer:

FV= $13,757.37

Explanation:

Giving the following information:

Monthly payment= $250

Interest rate= 0.0057

Number of periods= 4*12= 48

To calculate the future value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly payment

FV= {250*[(1.0057^48) - 1]} / 0.0057

FV= $13,757.37

Evaluating staffing and supervisory needs in the Incident Command Post. Identifying resource shortfalls. Updating planning documents. What NIMS Management Characteristics are you supporting

Answers

Answer:

Management by Objectives Incident Action Planning Manageable Span of Control

Explanation:

Following management by objectives, the general staff chiefs must begin developing strategies based upon the objectives set by the command.

Following incident action planning, the general staff  chiefs should update planning documents that include resource and staffing needs.

Following manageable span of control, the general staff chiefs must evaluate staffing needs and make sure that no supervisor has to many subordinates.

Categories of expenditures
Eric and Ginny Gaffney live in Swarthmore, PA. Ginny's father, Kenji, lives in Sweden.
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (I), government purchases (G), exports (X), or imports (M). Check all that apply.
Transaction C I G X M
Eric's employer upgrades all of its computer systems using U.S.-made parts.
Ginny gets a new refrigerator made in the United States.
Ginny's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
Eric buys a bottle of Italian wine.

Answers

Answer:

Categories of expenditures

1. I

Eric's employer upgrades all of its computer systems using U.S.-made parts.

2. C

Ginny gets a new refrigerator made in the United States.

3. X

Ginny's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.

4. G

The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.

5. M

Eric buys a bottle of Italian wine.

Explanation:

The US Gross Domestic Product (GDP) can be measured using the expenditure approach: Y = C + I + G + (X – M).  This expenditure approach calculates GDP by evaluating the sum of all final goods and services purchased in the US economy.  The components of the US GDP identified as “Y” in equation form include Consumption (C), Investment (I), Government Spending (G), and Net Exports (X – M) with X as exports and M as imports.

To raise operating funds, Coyne Incorporated sold its office building to an insurance company on January 1, 2021, for $1,600,000 and immediately leased the building back. The operating lease is for 12 years of the building's estimated 20-year remaining useful life. The building has a fair value of $1,600,000 and a book value of $1,300,000 (its original cost was $2 million). The rental payments of $200,000 are payable to the insurance company each December 31. The lease has an implicit rate of 9%.

Prepare the appropriate entries for National Distribution Center on January 1, 2018 and December 31, 2018, to record the sale-leaseback and necessary adjustments.

1. Record Sale of Building
2. Record the beginning of the lease for National
3. Record the lease and interest expense for National
4. Record the amortization expense for national

Answers

Answer:

1. 1-Jan-21

Dr Cash $1,600,000

Dr Accumulated Depreciation $700,000

Cr Building $2,100,000

Cr Gain On Sale of Building (BF) $200,000

2. 1-Jan-21

Dr Right Of Use Assets ( 200000* PVAF 9% for 12 year) $1,432,000

Cr Lease Payable $1,432, 000

3. 31-Dec-21

Dr Interest Expense $128,880

Dr Lease Payment (BF) $71,120

Cr Cash $200,000

4. 31-Dec-21

Dr Amortization Expenses $71,120

Cr Right Of Use Assets $71,120

Explanation:

1. Preparation of the Journal entry to Record Sale of Building

1-Jan-21

Dr Cash $1,600,000

Dr Accumulated Depreciation $700,000

(2,000,000-1,300,000)

Cr Building $2,100,000

[(1,600,000+700,000)-200,000]

Cr Gain On Sale of Building (BF) $200,000

(To Record Lease)

2. Preparation of the journal entry to Record the beginning of the lease for National

1-Jan-21

Dr Right Of Use Assets ( 200000* PVAF 9% for 12year)

(200,000*7.16) $1,432,000

Cr Lease Payable $1,432, 000

(To Record The Leae Payable)

3. Preparation of the journal entry to Record the lease and interest expense for National

31-Dec-21

Dr Interest Exp

(1,432,000*9%) $128,880

Dr Lease Payment (BF) $71,120

(200,000-128,880)

Cr Cash $200,000

(To Record First Lease payment)

4. Preparation of the journal entry to Record the amortization expense for national

31-Dec-21

Dr Amortization Expenses $71,120

Cr Right Of Use Assets $71,120

(To Record Amortisation Expense)

World Company expects to operate at 80% of its productive capacity of 67,500 units per month. At this planned level, the company expects to use 32,400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.600 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $68,040 fixed overhead cost and $408,240 variable overhead cost. In the current month, the company incurred $472,000 actual overhead and 29,400 actual labor hours while producing 51,000 units.

Required:
a. Compute the overhead volume variance.
b. Compute the overhead controllable variance.

Answers

Answer:

1. $3,780 Unfavorable

2. $453,600 Overhead controllable variance

Explanation:

Req. 1

Fixed Overhead Applied

Fixed OH per DL hr. ($68,040 ÷ $32,400) = 2.1

Standard DL hours = 0.60 * $51,000 = $30,600

Fixed OH applied = 2.1 * $30,600 = $64,260

Volume variance.

Total fixed OH applied $64,260

Total budgeted fixed OH $68,040

Fixed OH volume variance $3,780 Unfavorable

Req. 2

Overhead controllable variance.

Total actual overhead $ 472,000

Flexible budget overhead

Variable = $408,240 ÷ $32,400 = 12.6

=> $30,600 * 12.6 = $385,560

Fixed. $68,040

Total $453,600 Overhead controllable variance

When a woman makes a dress and takes it to town to trade it for eggs and milk, it is an example of

Answers

Answer:

Barter trade

Explanation:

Barter trade is the exchange of goods and services between parties without using a medium of exchange. In barter trade, the transacting parties exchange goods and services for other goods and services. Barter trade was in practice before money become widely accepted as a medium of exchange.

One challenge with barter trade is the double coincidence of wants. A person with good A and needs product B has to find another person with products B and need good A. In this case, the woman has a dress and need eggs and milk. She has to find someone with eggs and milk is willing to trade them for a dress.

Answer:

subsistence economy

Explanation:

What precaution should a food handler take when cleaning up vomit

Answers

Explanation:

The following are some precautions a food handler should take:

they should ensure that they are adequately protected by wearing hand gloves.ensure that they properly wash the area affected and the equipment used during the cleaning with detergent (eg bleach).the gloves worn during the cleaning operation should also be properly disinfected with detergents.
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