Answer:
Sonic Inc.a. Sales Budget for the month of June:
Rumble Thunder Total
Midwest Region 4,300 4,800 9,100
South Region 5,050 4,400 9,450
Total units sold 9,350 9,200 18,550
Sales price $95 $225
Expected Sales Revenue $888,250 $2,070,000 $2,958,250
b. Production Budget for the month of June:
Rumble Thunder Total
Desired inventory (units), June 30 327 69 396
Total units sold 9,350 9,200 18,550
Total units available for sale 10,287 9,269 19,556
Estimated inventory (units), June 1 284 79 363
Units to be produced 10,003 9,190 19,193
Explanation:
a) Data and Calculations:
Rumble Thunder
Estimated inventory (units), June 1 284 79
Desired inventory (units), June 30 327 69
Expected sales volume (units):
Midwest Region 4,300 4,800
South Region 5,050 4,400
Unit sales price $95 $225
Angela, Inc., holds a 90 percent interest in Corby Company. During 2020, Corby sold inventory costing $114,300 to Angela for $127,000. Of this inventory, $43,600 worth was not sold to outsiders until 2021. During 2021, Corby sold inventory costing $153,600 to Angela for $192,000. A total of $50,400 of this inventory was not sold to outsiders until 2022. In 2021, Angela reported separate net income of $168,000 while Corby's net income was $102,000 after excess amortizations. What is the noncontrolling interest in the 2021 income of the subsidiary
Answer: $9628
Explanation:
First, we need to calculate the gross profit which will be:
= $127,000 - $114,300
= $12700
Then, gross profit rate will be:
= Gross profit / Sales × 100
= ($12700 / $127,000) × 100
= 10%
Unrealized profit on $43,600 will be:
= 10% × $43600
= 0.1 × $43600
= $4360
The unrealized profit for 2021 will be calculated as:
= $192,000 - $153,600
= $38400
Then, gross profit rate will be:
= Gross profit / Sales × 100
= ($38400 / $192,000) × 100
= 20%
Unrealized profit on $50,400 will be:
= 20% × $50,400
= 0.2 × $50,400
= $10080
The noncontrolling interest in the 2021 income of the subsidiary will then be:
Income of Corby company = $102000
Add: Deferal of unrealized gross profit = $4360
Less : Unrealized profit on current year = $10080
Adjusted income = $96280
Non controlling interest at 10% will then be:
= 10% × $96280
= 0.1 × $96280
= $9628
The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 62 students enrolled in those two courses. Data concerning the company’s cost formulas appear below: Fixed Cost per Month Cost per Course Cost per Student Instructor wages $ 2,960 Classroom supplies $ 270 Utilities $ 1,220 $ 75 Campus rent $ 4,800 Insurance $ 2,300 Administrative expenses $ 3,900 $ 44 $ 7 For example, administrative expenses should be $3,900 per month plus $44 per course plus $7 per student. The company’s sales should average $890 per student. The company planned to run four courses with a total of 62 students; however, it actually ran four courses with a total of only 56 students. The actual operating results for September appear below: Actual Revenue $ 52,280 Instructor wages $ 11,120 Classroom supplies $ 16,590 Utilities $ 1,930 Campus rent $ 4,800 Insurance $ 2,440 Administrative expenses $ 3,936 Required: 1. Prepare the company’s planning budget for September. 2. Prepare the company’s flexible budget for September. 3. Calculate the revenue and spending variances for September.
Answer:
The Gourmand Cooking School
1. Planning Budget for September:
Fixed Cost Cost per Cost per Planning
per Month Course Student Budget
Instructor wages $ 2,960 $11,840
Classroom supplies $ 270 16,740
Utilities $ 1,220 $ 75 1,520
Campus rent $ 4,800 4,800
Insurance $ 2,300 2,300
Administrative expenses $ 3,900 $ 44 $ 7 4,510
Total $41,710
2) Flexible Budget for September:
Fixed Cost Cost per Cost per Flexible
per Month Course Student Budget
Instructor wages $ 2,960 $11,840
Classroom supplies $ 270 15,120
Utilities $ 1,220 $ 75 1,520
Campus rent $ 4,800 4,800
Insurance $ 2,300 2,300
Administrative expenses $ 3,900 $ 44 $ 7 4,468
Total $40,048
3. The Revenue and Spending Variances for September (based on flexible budget):
Planning Flexible Actual Spending
Budget Budget Variance
Revenue $55,180 $46,280 $52,280 $6,000 F
Instructor wages $11,840 $11,840 $11,120 $720 F
Classroom supplies 16,740 15,120 16,590 1,470 U
Utilities 1,520 1,520 1,930 410 U
Campus rent 4,800 4,800 4,800 0 None
Insurance 2,300 2,300 2,440 140 U
Administrative expenses 4,510 4,468 3,936 532 F
Total $41,710 $40,048 $40,816 $768 U
Explanation:
a) Data and Calculations:
Sales price per student = $890
Planned number of courses = 4
Planned total number of students = 62
Actual number of courses ran = 4
Actual total number of students = 56
Data concerning the company’s cost formulas appear below:
Fixed Cost Cost per Cost per
per Month Course Student
Instructor wages $ 2,960
Classroom supplies $ 270
Utilities $ 1,220 $ 75
Campus rent $ 4,800
Insurance $ 2,300
Administrative expenses $ 3,900 $ 44 $ 7
Actual Results:
Actual Revenue $ 52,280
Instructor wages $ 11,120
Classroom supplies $ 16,590
Utilities $ 1,930
Campus rent $ 4,800
Insurance $ 2,440
Administrative expenses $ 3,936
Mann Co. is preparing an Excel spreadsheet for its 5-year, 6%, $400,000 installment notes. The notes were issued on January 1 for $421,236. Installment payments are payable each December 31. A portion of the spreadsheet appears as follows: A B C D E 1 Effective rate: 0.06 2 Cash payments: 100,000 3 Term to maturity in years: 5 4 5 Period Cash Payment Interest Expense Change in Balance Outstanding Balance 6 0 7 1 8 2 What formula should Mann use in cell E8 to calculate the outstanding balance (book value) of the notes after the second interest
Answer:
The correct formula that Mann should use in cell E8 is =E7-D8.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached excel file for the complete question with the sorted data.
The explanation of the answer is now given as follows:
The correct formula that Mann should use in cell E8 is =E7-D8. If this formula is used, it will calculate the outstanding balance (book value) of the notes after the second interest for period 2.
Additional Note:
Although this is not part of the requirement of the question, but it is provided for you to assist your further in your learning.
Note: See the below the attached excel file for the full answer and calculations of all the cells required for the amortization schedule.
For example, using the correct formula =E7-D8 in cell E8 gives $267,301 (in red color).
Question 11 of 40
Why might a marketer remove a product from the product mix?
A. Because it has high sales
B. Because it isn't selling
C. Because it is a consumer favorite
D. Because it's been on the market for more than two years
need asap
Answer:
B.because it isnt selling
A circumstance where a producer discontinues selling a specific product permanently: To make room for new things, product deletion of slow-moving items is recommended. Compare with product recall. Hence option B is correct.
What is Product deletion ?Expanding the product mix can be done in two ways: by adding new brands or variations of already-existing brands to the product line; or by adding more product lines overall.
Brands eliminate products that don't meet marketing plans or show a poor market outlook in addition to those with low sales and profits. Industry-specific product failure rates range from 75% to 90% for newly packaged items, according to estimates.
When a product is not in the right place on the market and If a product is not profitable enough, all the resources required to create it are wasted and could have been utilized to create another product or improve an already existing one. This necessitates product erasure.
Learn more about Product Mix here
https://brainly.com/question/28012842
#SPJ2
At December 31, 2020, Carter Company had 450,000 shares of common stock issued and outstanding, 350,000 of which had been issued and outstanding throughout the year and 100,000 of which were issued on September 1, 2020. Net income for the year ended December 31, 2020, was $1,160,000. What should be Twin Rivers' 2020 earnings per common share, rounded to the nearest penny
Answer:
$3.03
Explanation:
Calculation to determine What should be Twin Rivers' 2020 earnings per common share,
Using this formula
Earnings per common share=
Net Income for 2020/Weighted Average Shares Outstanding
Let plug in the formula
Earnings per common share=$1,160,000/ [(350,000 x 8/12) + (450,000 × 4/12)]
Earnings per common share=$1,160,000/(233,333+150,000)
Earnings per common share=$1,160,000/383,333
Earnings per common share= $3.03
Therefore What should be Twin Rivers' 2020 earnings per common share is $3.03
A speculative bubble occurs when: A. Investors buy an asset that they believe the market is undervaluing. B. Investors are so afraid of taking risks that they buy only the safe assets. C. Investors bid up the price of an asset because they are overly optimistic that the price will continue rising. D. Investors ignore obvious risks because they are foolish. E. Buyers use credit to make purchases they cannot afford.
Answer:
c
Explanation:
Meyer & Smith is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Container Corporation purchased computer equipment, installation and training for a total cost of $120,000 on March 15, 2014. Estimated standalone fair values of the equipment, installation and training are $75,000, $50,000 and $25,000 respectively. Assuming that the training services will be performed in June 2014, the journal entry to record the transaction on March 15, 2014 will include a
Answer:
7
Explanation:
Crypton Electronics has a capital structure consisting of percent common stock and percent debt. A debt issue of $ par value, percent bonds that mature in years and pay annual interest will sell for $. Common stock of the firm is currently selling for $ per share and the firm expects to pay a $ dividend next year. Dividends have grown at the rate of percent per year and are expected to continue to do so for the foreseeable future. What is Crypton's cost of capital where the firm's tax rate is percent?
Answer:
A. After-cost of debt 4.20%
B. Cost of common equity 12.15%
C. Cost of capital 7.02%
Explanation:.
A. Calculation to determine the After-cost of debt
After-cost of debt =RATE(15,5.8%*1000,-980,1000)*(1-30%)
After-cost of debt =4.20%
Therefore After-cost of debt is 4.20%
b) Calculation to determine cost of common equity
Cost of common equity=2.17/29.12+4.7%
Cost of common equity=12.15%
Therefore Cost of common equity is 12.15%
c) Calculation to determine cost of capital
Cost of capital=(4.20%*63%)+(12.15%*36%)
Cost of capital=7.02%
Therefore Cost of capital is 7.02%
An ordinary annuity was purchased 5 years ago. The annuity pays 8%compounded quarterly. The quarterly payments have been $500. What is the amount of interest earned on the annuity to date?
Answer:
"$8,175.72" is the right solution.
Explanation:
The given values are:
Periodic payments,
C = $500
Interest rate,
r = 8%
i.e.,
= [tex]\frac{8}{4}[/tex] = [tex]2[/tex]%
Number of periods,
n = 5 years,
i.e.,
= [tex]5\times 4[/tex] = [tex]20[/tex]
As we know,
The present value of annuities 5 years ago will be:
⇒ [tex]Present \ Value =C\times \frac{[1-(1+r)^{-n}]}{5}[/tex]
On substituting the given values, we get
⇒ [tex]=500\times \frac{[1-(1+0.02)^{-20}]}{0.02}[/tex]
⇒ [tex]=500\times \frac{1-0.6729713331}{0.02}[/tex]
⇒ [tex]=500\times 16.35143335[/tex]
⇒ [tex]=8,175.72[/tex] ($)
Materials Variances Assume that Pearle Vision uses standard costs to control the materials in its made-to-order sunglasses. The standards call for 2 ounces of material for each pair of lenses. The standard cost per ounce of material is $15.75. During July, the Santa Clara location produced 5,200 pairs of sunglasses and used 9,600 ounces of materials. The cost of the materials during July was $16.50 per ounce, and there were no beginning or ending inventories. Required a. Determine the flexible budget materials cost for the completion of the 5,200 pairs of glasses. $Answer 163,800 b. Determine the actual materials cost incurred for the completion of the 5,200 pairs of glasses and compute the total materials variance. $Answer 158,400 actual materials cost $Answer 12,600 Answer total materials variance c. How much of the total variance was related to the price paid to purchase the materials? $Answer 7,200 Answer d. How much of the difference between the answers to requirements (a) and (b) was related to the quantity of materials used? (Hint: Compute materials quantity variance.) $Answer 0 Answer
Answer:
A. $163,800
B. $158,400
$5,400 F
C.$7,200 U
D.$12,600 F
Explanation:
A. Calculation to Determine the flexible budget materials cost for the completion of the 5,200 pairs of glasses.
Flexible budget materials cost for the completion of the 5,200 pairs
= 5200 pairs * 2 ounces * $15.75
= $163,800
b. Calculation to determine the actual materials cost incurred for the completion of the 5,200 pairs of glasses
Actual materials cost incurred for the completion of the 5,200 pairs.
= Actual material used * Actual rate
= 9,600 ounces * $16.50
= $158,400
Computation for the total materials variance
Total Material Variance = Flexible budget material cost for actual production - Actual material cost
= $163,800-$158,400
= $5,400 F
c). Calculation to determine How much of the total variance was related to the price paid to purchase the materials
Total variance was related to the price paid to purchase the materials.
Material price variance = (Standard price - Actual price) * Actual quantity
= ($15.75 - $16.50) * 9600 ounces
= $7,200 U
d) Calculation to determine How much of the difference between the answers to requirements (a) and (b) was related to the quantity of materials used
Material quantity variance = (Standard qty for actual production - Actual quantity ) * Standard rate
= (5200 * 2 ounces - 9600 ounces) * $15.75
= (10400 ounces - 9600 ounces) * $15.75
= $12,600 F
A global positioning system (GPS) receiver is purchased for $3,000. The IRS informs your company that the useful (class) life of the system is seven years. The expected market (salvage) value is $200 at the end of year seven. a. Use the straight-line method to calculate depreciation in year three.
Answer: $400
Explanation:
To solve the question, we should note that the annual depreciation under the straight line depreciation method is given as:
= ( Cost - Salavage ) / Estimated Useful Life
= ($3,000 - $200 ) / 7
= $2800 / 7
= $400.
Therefore, the depreciation in year 3 will be $400
Stellan Manufacturing is considering the following two investment proposals:
Proposal X
Proposal Y
Investment
$730,000
$504,000
Useful life
5 years
4 years
Estimated annual net cash inflows received at the end of each year
$156,000
$100,000
Residual value
$50,000
$0
Depreciation method
Straightminus
line
Straightminus
line
Annual discount rate
10%
9%
Compute the present value of the future cash inflows from Proposal Y.
Present value of an ordinary annuity of $1:
8%
9%
10%
1
0.926
0.917
0.909
2
1.783
1.759
1.736
3
2.577
2.531
2.487
4
3.312
3.240
3.170
5
3.993
3.809
3.791
6
4.623
4.486
4.355
A.
$252,000
B.
$292,320
C.
$268,884
D.
$324,000
Answer:When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
Explain the definition of Human Resources Management
Answer:
Human resource management (HRM or HR) is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and Employee benefits benefit systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and
Explanation:
The Oppoturnity to employ Workers and to make sure their comfortable
Pension funds pay lifetime annuities to recipients. If a firm will remain in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $2 million per year to beneficiaries. The yield to maturity on all bonds is 16%. a. If the duration of 5-year maturity bonds with coupon rates of 12% (paid annually) is four years and the duration of 20-year maturity bonds with coupon rates of 6% (paid annually) is 11 years, how much of each of these coupon bonds (in market value) will you want to hold to both fully fund and immunize your obligation
Solution :
The PV "perpetual" obligation of the firm = [tex]$\frac{\$ 2 \text{ million}}{0.16}$[/tex]
= $ 12.5 million
Also based on duration of the perpetuity, duration of this obligation = [tex]$\frac{1.16}{0.16}$[/tex]
= 7.25 years
Let [tex]$w$[/tex] be the [tex]$\text{weight}$[/tex] on the [tex]$5$[/tex] year maturity bond, which has a duration of [tex]$4$[/tex]years. Then :
[tex]$w \times 4 +(1-w) \times 11 = 7.25$[/tex]
[tex]$w=0.5357$[/tex]
Therefore,
[tex]$0.5357 \times \$ 12.5 = \$ 6.7$[/tex] million in the [tex]$5$[/tex] year bond
[tex]$0.4643 \times \$12.5=\$5.8$[/tex] million in the [tex]$2$[/tex] year bond.
Therefore, the total invested amounts to $ [tex]$(6.7+5.8)$[/tex] million = [tex]$\$12.5$[/tex] million, which fully matches the funding needs.
Madzinga's Draperies manufactures curtains. A certain window requires the following:
Direct materials standard 10 square yards at $5 per yard
Direct manufacturing labor standard 5 hours at $10
During the second quarter, the company made 1.500 curtains and used 14.000 square yards of fabric costing $68, 600. Direct labor totaled 7, 600 hours for $79, 800.
Required
a. Compute the direct materials price and efficiency variances for the quarter.
b. Compute the direct manufacturing labor price and efficiency variances for the quarter
Answer:
Results are below.
Explanation:
To calculate the direct material price and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (5 - 4.9)*14,000
Direct material price variance= $1,400 favorable
Actual price= 68,600/14,000= $4.9
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (1,500*10 - 14,000)*5
Direct material quantity variance= $5,000 favorable
To calculate the direct labor efficiency and rate variance, we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (5*1,500 - 7,600)*10
Direct labor time (efficiency) variance= $1,000 unfavorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (10 - 10.5)*7,600
Direct labor rate variance= $3,800 unfavorable
Actual rate= 79,800 / 7,600= $10.5
how can gdp per capita and poverty rates indicate standards of living in each system?
Answer:
both measures that can be used to measure standards of living because they are both measures of how much money people have.
Explanation:
I hope this helped
Incremental costs - Initial and terminal cash flow
Consider the case of Marston Manufacturing
Acme Manufacturing is considering a project that requires an investment in new equipment of $3,200,000, with an additional $160,000 in shipping and installation costs. Acme estimates that its accounts receivable and inventories need to increase by $640,000 to support the new project, some of which is financed by a $256,000 increase in spontaneous liabilities (accounts payable and accruals).
The total cost of Marston's new equipment is___the and consists of the price of the new equipment plus the_____.
In contrast, Marston's initial net investment outlay is____.
Suppose Marston's new equipment is expected to sell for $200,000 at the end of its four-year useful life, and at the same time, the firm expects to recover all of its net operating working capital investment. The company chose to use straight-line depreciation, and the new equipment was fully depreciated by the end of its useful life. If the firm's tax rate is 40%, what is the project's total ter)tination cash flow?
a. $200,000.
b. $464,000.
c. $504,000.
d. $120,000.
Answer:
c. $504,000
Explanation:
Total cost of new equipment = Price of equipment + Shipping & Installation costs = $3,200,000 + $160,000 = $3,360,000
Increase in working capital = Increase in inventories & account receivables - Increase in accounts payable = $640,000 - $256,000 = $384,000
Total Initial net investment outlay = $3,744,000 ($3,360,000+$384,000)
Project terminal cash-flow = Sale value of equipment (after tax) + Recovery of working capital = $200,000*(1-0.40) + $384,000 = $120,000 + $384,000 = $504,000
All of the following are weaknesses of the payback period:_________ (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
a. it uses cash flows, not income.
b. it is easy to use.
c. it ignores all cash flows after the payback period
d. it ignores the time value of money.
Answer:
c. it ignores all cash flows after the payback period
d. it ignores the time value of money.
Explanation:
Payback period as far as capital budgeting is concerned can be regarded as time that is required for recouping of funds that is been expended during setting up of an investment, or the funds required to get to break-even point. It should be noted that weaknesses of the payback period are;
✓. it ignores all cash flows after the payback period
✓ it ignores the time value of money.
Farmer Brown grows Number 1 red corn and would like to hedge the value of the coming harvest. However, the futures contract is traded on the Number 2 yellow grade of corn. Suppose that yellow corn typically sells for 90% of the price of red corn. If he grows 180,000 bushels, and each futures contract calls for delivery of 5,000 bushels, how many contracts should Farmer Brown buy or sell to hedge his position
Answer:
40 contracts
Explanation:
Calculation to determine how many contracts should Farmer Brown buy or sell to hedge his position
First step is to calculate how much The farmer must sell forward
Farmer must sell forward=180,000∗(1/0.90)
Farmer must sell forward= 200,000bushels of yellow corn.
Now let calculate the requires selling
Requires selling=200,000/ 5,000 bushels
Requires selling =40 contracts.
Therefore how many contracts should Farmer Brown buy or sell to hedge his position is 40 contracts.
The budget director for Kanosh Cleaning Services prepared the following list of expected selling and administrative expenses. All expenses requiring cash payments are paid for in the month incurred except salary expense and insurance. Salary is paid in the month following the month in which it is incurred. The insurance premium for six months is paid on October 1. October is the first month of operations; accordingly, there are no beginning account balances.
Required Complete the schedule of cash payments for S&A expenses by filling in the missing amounts.
Determine the amount of salaries payable the company will report on its pro forma balance sheet at the end of the fourth quarter.
Determine the amount of prepaid insurance the company will report on its pro forma balance sheet at the end of the fourth quarter.
October November December
Budgeted S&A Expenses
Equipment lease expense $7,500 $7,500 $7,500
Salary expense 8,200 8,700 9,000
Cleaning supplies 2,800 2,730 3,066
Insurance expense 1,200 1,200 1,200
Depreciation on computer 1,800 1,800 1,800
Rent 1,700 1,700 1,700
Miscellaneous expenses 700 700 700
Total operating expenses $23,900 $24,330 $24,966
Schedule of Cash Payments for S&A Expenses
Equipment lease expense
Prior month’s salary expense, 100%
Cleaning supplies
Insurance premium
Depreciation on computer
Rent
Miscellaneous expenses
Total disbursements for operating expenses $19,900 $20,830 $21,666
b. Salaries payable
c. Prepaid insurance
Answer:
Kanosh Cleaning Services
a. Schedule of Cash Payments for S&A Expenses
October November December
Equipment lease expense $7,500 $7,500 $7,500
Prior month’s salary expense, 100% 0 8,200 8,700
Cleaning supplies 2,800 2,730 3,066
Insurance premium 7,200 0 0
Depreciation on computer 0 0 0
Rent 1,700 1,700 1,700
Miscellaneous expenses 700 700 700
Total disbursements for operating expenses $19,900 $20,830 $21,666
b. Salaries payable = $9,000
c. Prepaid insurance = $3,600
Explanation:
a) Data and Calculations:
October November December
Budgeted S&A Expenses
Equipment lease expense $7,500 $7,500 $7,500
Salary expense 8,200 8,700 9,000
Cleaning supplies 2,800 2,730 3,066
Insurance expense 1,200 1,200 1,200
Depreciation on computer 1,800 1,800 1,800
Rent 1,700 1,700 1,700
Miscellaneous expenses 700 700 700
Total operating expenses $23,900 $24,330 $24,966
Schedule of Cash Payments for S&A Expenses
October November December
Equipment lease expense $7,500 $7,500 $7,500
Prior month’s salary expense, 100% 0 8,200 8,700
Cleaning supplies 2,800 2,730 3,066
Insurance premium 7,200 0 0
Depreciation on computer 0 0 0
Rent 1,700 1,700 1,700
Miscellaneous expenses 700 700 700
Total disbursements for operating expenses $19,900 $20,830 $21,666
b. Salaries payable = $9,000
c. Prepaid insurance = $3,600 ($7,200 - $3,600)
a. See the attached photo for the complete schedule of cash payments for S&A expenses.
Under the complete schedule of cash payments for S&A expenses in the attached photo, the following are determined as follows:
Insurance premium paid in October = Monthly insurance expense * 6 months = $1,200 * 6 months = $7,200
Depreciation on computer = This is zero for each of the month because depreciation is not a cash expense.
b. Salaries payable = Salary expense for December = $9,000
c. Prepaid insurance = 6 months insurance premium paid – (October insurance expense + November insurance expense + December insurance expense) = $7,200 – ($1,200 + $1,200 + $1,200) = $7,200 - $3,600 = $3,600
Learn more here: https://brainly.com/question/19131425.
You own shares of Somner Resources' preferred stock, which currently sells for per share and pays annual dividends of $ per share. If the market's required yield on similar shares is percent, should you sell your shares or buy more?
Answer:
You should buy more shares
Explanation:
The above-mentioned question is missing few components. I have added them to explain on how the question would be solved if all the variables were provided. Please note the additions in bold text below. The answer of which is given afterwards.
You own 300 shares of Somner Resources' preferred stock, which currently sells for $39 per share and pays annual dividends of $5.50 per share. If the market's required yield on similar shares 12% is percent, should you sell your shares or buy more?
Solution as mentioned below:
First of all we need to calculate value of the preferred stock by dividing the annual dividend per share from the market required rate.
Value of preferred stock = 5.50 / 12%
Value of preferred stock = $45.83
Now given the fact that the current price at which the stocks are sold is $39 which is less than the price at which they are actually valued which is $45.83. You should buy more of the shares as they are currently undervalued.
Assume that you are running for president of a local sports club, for which there is another contender. Although you have administrative experience in managing sports clubs, the other contender is a professional sportsperson. Most of the club members consist of retired sports personnel, commentators, and sports journalists, most of whom feel that the club lacks the latest equipment, proper restrooms, and secure locker facilities. Write a statement to be emailed to each member, clearly stating what you would do for the club once elected.
Answer:
Jeepers
Explanation:
Eat at State is considering buying a new food truck. It will cost $65,000, but is expected to generate $20,000 in sales over the next 4 years. At the end of the 4th year, the truck will be sold to Eat Like a Wolverine in Ann Arbor for $10,000 (after taxes). It will require $5,000 in additional Net Working capital that will not be recovered when the truck is sold. The Dean of Food Services will only authorize the purchase if it is cash positive by the end of the 4th year. Using the payback period method, should the truck be purchased, and why
Answer:
It is not advisable to buy the food truck, since over the 4 years of investment it will show a loss of $ 40,000.
Explanation:
Since Eat at State is considering buying a new food truck, and it will cost $ 65,000, but is expected to generate $ 20,000 in sales over the next 4 years, and at the end of the 4th year, the truck will be sold to Eat Like a Wolverine in Ann Arbor for $ 10,000 (after taxes), and it will require $ 5,000 in additional Net Working capital that will not be recovered when the truck is sold, and the Dean of Food Services will only authorize the purchase if it is cash positive by the end of the 4th year, to determine, using the payback period method if the truck should be purchased and why, the following calculation must be performed:
-65,000 + 20,000 + 10,000 - 5,000 = X
-70,000 + 30,000 = X
-40,000 = X
Therefore, it is not advisable to buy the food truck, since over the 4 years of investment it will show a loss of $ 40,000.
Select the correct answer.
How does licensing for food handling work?
O A. There is one national certification program.
B.
There are several national certification programs.
Ос.
There is one regional certification program.
D. There are several regional certification programs.
Answer:
The answer is D
Explanation:
There are several regional certification programs does license for food handling work. Thus, option (d) is correct.
What is food?The term “food” refers to an edible and consumable material that provides the body with nutrition and vitamins to maintain itself. Plants, humans, animals, and birds all typically eat food. fruits, vegetables, legumes, dairy, and other nutrient-dense foods. The body need the food in order to function, thus it was consumed.
Food Safety and Hygiene was the handling the work was the provided in the many regional certification programs. It was the main agenda to provided the information regarding the cleaning procedures and food, safe cooking temperatures, proper hygiene, and the preparation methods.
As a result, the significance of the food is the aforementioned. Therefore, option (d) is correct.
Learn more about on food, here:
https://brainly.com/question/16327379
#SPJ2
Milton Industries expects free cash flows of $11 million each year. Milton's corporate tax rate is 22%, and its unlevered cost of capital is 14%. Milton also has outstanding debt of $21.85 million, and it expects to maintain this level of debt permanently. What is the value of Milton industries with leverage (in millions)
Answer:
the value of Milton industries with leverage is $83.38 million
Explanation:
The computation of the value of Milton industries with leverage is shown below:
= value of firm without leverage + Amount of debt x tax rate
= ($11 million ÷ 14%) + $21.85 million × 0.22
= $83.38 million
Hence, the value of Milton industries with leverage is $83.38 million
The same is to be considered and relevant
In an electric motor, a commutator
a.
is made out of dozens of wire loops wrapped around a ferromagnetic core.
b.
repeatedly reverses the flow of current through the armature.
c.
is a magnet.
d.
is directly connected to the current source.
Answer:
ook
Explanation:
ook
The following options it gives me are
There would be a shortage of 2,000 bags of popcorn and consumers would be happy with the quality
There would be a shortage of 2,000 bags and consumers would be unhappy with the quality
There would be a surplus of 2,000 bags and consumers would be happy with the quality
There would be a shortage of 2,000 bags and producers would be happy with the law
There would be a surplus of 2,000 bags and producers would be happy with the law
Answer:
There would be a surplus of 2,000 bags, and producers would be happy with the law.
Explanation:
Unlike a price floor that prevents the price of movie theater popcorn from falling below the equilibrium price level of $15, a price ceiling of $5 prevents the price of movie theater popcorn from rising above $20. When a price ceiling is set above the equilibrium price, the quantity supplied exceeds the quantity demanded by 2,000 packets of popcorn, and there will be a surplus supply.
Maui Resort Inc. determined that the balance in its deferred tax asset account on December 31, 2020, was $50,000. Management reviewed all available positive and negative evidence to estimate that 30% of the deferred tax asset was more likely than not to be realized. The valuation allowance for deferred tax assets has a December 31, 2020, unadjusted balance of $4,000 (credit). Record the entry to adjust the allowance on December 31, 2020.
Answer:
Maui Resort Inc.
Journal Entry:
December 31, 2020:
Debit Loss from Unrealizable DTA $31,000
Credit Allowance for Unrealizable DTA $31,000
To record the expected loss from unrealizable DTA and to increase the Allowance balance to $35,000.
Explanation:
a) Data and Calculations:
December 31, 2020 Deferred Tax Asset (DTA) = $50,000
Estimate of realizable DTA = 30% of $50,000 = $15,000
Allowance for unrealizable DTA for 2020 = 70% of $50,000 = $35,000
Loss from unrealizable DTA = $31,000 ($35,000 - $5,000)
b) We can liken the Allowance for Doubtful Accounts to the DTA Valuation Allowance, which is a contra-account to the Deferred Tax asset Account. In it, the amount of the deferred tax asset that has a more than 50% probability of being lost or unutilized in the future arising from non-availability of sufficient future taxable income is accounted for.
Why is it a good idea to turn off Wi-Fi while using a mobile banking app?
Answer:
The fact that Wi-Fi broadcasts data to anybody in range means that your information could be at risk.
Explanation: 1 That's especially risky if you use Wi-Fi for online banking. Avoiding Wi-Fi altogether is not realistic. It's probably not even practical to save banking sessions for when you're at home or on a wired connection.
Weiss Corporation reported the following information at December 31, 2016: Preferred stock, $40 par, 10,000 shares authorized, issued, and outstanding; cumulative; nonparticipating; callable at par value $ 400,000 Common stock, $4 par, 500,000 shares authorized 400,000 Additional paid-in capital - Common 300,000 Retained earnings 150,000 Total stockholders' equity $1,200,000 The total paid in capital is:
Answer:
$1,100,000
Explanation:
Particulars Amount
Preferred stock, $40 par, 10,000 shares $400,000
authorized, issued, and outstanding;
cumulative; nonparticipating; callable
at par value
Common stock, $4 par, 500,000 $400,000
shares authorized
Additional paid-in capital - Common $300,000
Total paid in capital $1,100,000