Match each statement with the appropriate phrase that is defined or indicated.
1. Net income minus preferred dividends divided by the weighted average of shares outstanding.
2. All changes in equity during a period except those resulting from investments by owners and distributions to owners.
3. A correction of an error is reported as a
4. The portion of equity interest in a subsidiary not attributable to the parent company.
5. The income statement category for a disposal of a component of a business.
6. Relating tax expense to specific items on the income statement.
7. Obligations expected to be liquidated
8. Statement showing financial condition at a
9. Events that depend upon future outcomes.
10. Probable future sacrifices of economic benefits
11. Resources expected to be converted to
12. Resources of a durable nature used in
13. Economic rights or competitive advantages
14. Probable future economic benefits.
15. Residual interest in the net assets of an entity
1. Earnings per share
2. Other Comprehensive Income
3. Prior Period Adjustment
4. Non-Controlling Interest
5. Discounted Operations
6. ________________________________
7. through use of current assets.
8. point in time.
9.____________________________________
10.___________________________________
11. cash in one year or the operating cycle, whichever is longer.
12. operations.
13. which lack physical substance.
14.____________________________________
15._______________________________

Answer:

1. Net income minus preferred dividends divided by the weighted average of shares outstanding

Correct terms: Earnings per share

2. All changes in equity during a period except those resulting from investments by owners and distributions to owners.

Correct terms: Other Comprehensive Income

3. A correction of an error is reported as a

Correct terms: Prior Period Adjustment

4. The portion of equity interest in a subsidiary not attributable to the parent company.

Correct terms: Non-Controlling Interest

5. The income statement category for a disposal of a component of a business.

Correct terms: Discounted Operations

6. Relating tax expense to specific items on the income statement.

Correct terms: Intraperiod tax allocation

7. Obligations expected to be liquidated

Correct terms: Current liabilities

8. Statement showing financial condition at a

Correct terms:  Balance sheet

9. Events that depend upon future outcomes.

Correct terms: Contingencies

10. Probable future sacrifices of economic benefits

Correct terms: Liabilities

11. Resources expected to be converted to

Correct terms: Current assets

12. Resources of a durable nature used in

Correct terms: Property, plant, and equipment

13. Economic rights or competitive advantages

Correct terms: Intangible assets

14. Probable future economic benefits.

Correct terms: Assets

15. Residual interest in the net assets of an entity

Correct terms:  Equity

You would like to estimate the weighted average cost of capital for a new airline business. Based on its industry asset beta, you have already estimated an unlevered cost of capital for the firm of 10%. However, the new business will be 22% debt financed, and you anticipate its debt cost of capital will be 6%. If its marginal corporate tax rate is 31% and effective tax rate is 20%.

Required:
What is your estimate of its WACC?

The creation of a single market through regional economic integration offers significant opportunities because markets that were formerly protected from foreign competition are increasingly open.

a. True
b. False

Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was $11,200. Aug. 30. Received $8,000 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $10,900 cash in full payment.

Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $243,600 and 8,600 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $244,600 and actual direct labor-hours were 5,900.The applied manufacturing overhead for the year was closest to:

The income statement for the month of June, 2018 of Sarasota Enterprises contains the following information:
Revenues $6740
Expenses:
Salaries and Wages Expense $2900
Rent Expense 1530
Advertising Expense 740
Supplies Expense 270
Insurance Expense 110
Total expenses 5550
Net income $1190
The entry to close the expense accounts includes a:_______
a) debit to Salaries and Wages Expense for $2900.
b) credit to Rent Expense for $1530
c) debit to Income Summary for $1190.
d) credit to Income Summary for $5550.

On July 23 of the current year, Dakota Mining Co. pays $7,568,400 for land estimated to contain 8,904,000 tons of recoverable ore. It installs and pays for machinery costing $1,246,560 on July 25. The company removes and sells 456,750 tons of ore during its first five months of operations ending on December 31. Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore is mined. (e) If the machine will be used at another site when extraction is complete, how would we depreciate this machine

A state department of health is considering a public awareness campaign to encourage vaccination. It determines that the cost of this campaign would be $760,000 per year for the next 6 years. It estimates that the campaign would reduce rates of illness and communicable disease. At the end of the first year of the campaign, the resulting savings would be $1,000,000; the savings would decrease by $80,000 each of the following 5 years. Assuming a discounting factor of 5%, compute the benefit cost ratio.

Thomlin Company forecasts that total overhead for the current year will be $11,898,000 with 156,000 total machine hours. Year to date, the actual overhead is $7,955,000 and the actual machine hours are 85,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours. a.$140 per machine hour b.$51 per machine hour c.$76 per machine hour d.$94 per machine hour

On July 1, 2020, Bonita Inc. made two sales.
1. It sold land having a fair value of $904,970 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,423,984. The land is carried on Bonita's books at a cost of $596,000.
2. It rendered services in exchange for a 3%, 8-year promissory note having a face value of $409,570 (interest payable annually).
Bonita Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest.
Record the two journal entries that should be recorded by Bonita Inc. for the sales transactions above that took place on July 1, 2020.

I need help with this question

Green Corporation reported pretax book income of $1,018,000. During the current year, the net reserve for warranties increased by $50,900. In addition, tax depreciation exceeded book depreciation by $104,500. Finally, Green subtracted a dividends received deduction of $25,450 in computing its current year taxable income. Green's cash tax rate is:

Other financial data for the year ended December 31, 2019: Included in accounts receivable is $1,200,000 due from a customer and payable in quarterly installments of $150,000. The last payment is due December 29, 2021. The balance in the Deferred Income Tax Liability account pertains to a temporary difference that arose in a prior year, of which $20,000 is classified as a current liability. During the year, estimated tax payments of $525,000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Lamberts December 31, 2019 balance sheet, the current assets total is

MyPillow uses television advertising and wanted to see whether the TV ads reached more viewers during the daytime spots or the prime-time spots. MyPillow wanted to adjust its TV spots to reach the greatest number of viewers. To get real-time reactions, MyPillow decided to conduct mobile market research because _______. a. most people do not multitask using smartphones b. using a mobile app is difficult and confusing c. most people do not use their desktop computers while watching TV d. fewer respondents are reached than in conducting telephone research

Blaze operates a restaurant in Cleveland. He travels to Columbus to investigate acquiring a business. He incurs expenses as follows: $1,500 for travel, $2,000 for legal advice, and $3,500 for a market analysis. Based on the different tax consequences listed below, describe the circumstances that were involved in Blaze's investigation of the business.

On April 1, 2020, Republic Company sold equipment to its wholly owned subsidiary, Barre Corporation, for $40,000. At the time of the transfer, the asset had an original cost (to Republic) of $60,000 and accumulated depreciation of $25,000. The equipment has a five year estimated remaining life. Barre reported net income of $250,000, $270,000 and $310,000 in 2020, 2021, and 2022, respectively. Republic received dividends from Barre of $90,000, $105,000 and $120,000 for 2020, 2021, and 2022, respectively. What was the amount of the credit to depreciation expense on the 2020 consolidation worksheet

urphy Inc., which produces a single product, has provided the following data for its most recent month of operation:Number of units produced 14,600Variable costs per unit:Direct materials $ 137Direct labor $ 75Variable manufacturing overhead $ 4Variable selling and administrative expenses $ 11Fixed costs:Fixed manufacturing overhead $ 846,800Fixed selling and administrative expenses $ 233,600The company had no beginning or ending inventories.Required:a. Compute the unit product cost under absorption costing.b. Compute the unit product cost under variable costing.

Mateo Inc. had the following inventory situations to consider at January 31, its year-end.
(a) Goods held on consignment for Schrader Corp. since December 12.
(b) Goods shipped on consignment to Lyman Holdings Inc. on January 5.
(c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit.
(d) Goods shipped to a customer, FOB shipping point, on January 29 that are still in transit.
(e) Goods purchased FOB destination from a supplier on January 25, that are still in transit.
(f) Goods purchased FOB shipping point from a supplier on January 25, that are still in transit.
(g) Office supplies on hand at January 31.
If the item should not be included in inventory, state in what account, if any, it should have been recorded?

Beech Company produced and sold 105,000 units of its product in May. For the level of production achieved in May, the budgeted amounts were: sales, $1,300,000; variable costs, $835,000; and fixed costs, $390,000. The following actual financial results are available for May. Actual Sales (105,000 units) $ 1,273,000 Variable costs 805,500 Fixed costs 390,000 Prepare a flexible budget performance report for May. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)

Kohl Co. provides warranties for many of its products. The January 1, 2016 balance of Estimated Warranty Liability account was $35200. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 0.4% of sales. During 2016 the actual cost of servicing products was under warranty was $15600 and sales were $3,600,000.
a) What amount of Warranty Expense will appear on Kohl Co's income statement for the year end December 31, 2016?
b) What amount will be reported in the Estimated Warranty Liability account on the December 31, 2016, balance sheet?

Personalities fit into at least one of (blank)
different categories.


A.ten



B.seven


C.three



D.five

Entertainer's Aid plans five annual colossal concerts, each in a different nation's capital. The concerts will raise funds for an endowment which would provide the World Wide Hunger Fund with $3,000,000 per year into perpetuity. The endowment will be given at the end of the fifth year. The rate of interest is expected to be 9 percent in all future periods. How much must Entertainer's Aid deposit each year to accumulate to the required amount

Schickel Inc. regularly uses material B39U and currently has in stock 456 liters of the material for which it paid $2618 several weeks ago. If this were to be sold as is on the open market as surplus material, it would fetch $5.20 per liter. New stocks of the material can be purchased on the open market for $5.80 per liter, but it must be purchased in lots of 1000 liters. You have been asked to determine the relevant cost of 750 liters of the material to be used in a job for a customer. The relevant cost of the 750 liters of material B39U is:

Sage Hill Inc. wishes to lease machinery to Thiensville Company. Thiensville wants the machinery for 4 years, although it has a useful life of 10 years. The machinery has a fair value at the commencement of the lease of $47,000, and Sage Hill expects the machinery to have a residual value at the end of the lease term of $27,000. However, Thiensville does not guarantee any part of the residual value. Thiensville does expect that the residual value will be $45,000 instead of $27,000.

Required:
What would be the amount of the annual rental payments Sage Hill demands of Thiensville, assuming each payment will be made at the end of each year and Sage Hill wishes to earn a rate of return on the lease of 6%?

A pump has failed in a facility that will be completely replaced in 3 years. A brass pump costing $6000 installed will last 3 years. However, a used stainless steel pump that should last 3 more years has been sitting in the maintenance shop for a year. The pump cost $13,000 new. The accountants say the pump is worth $7000 now. The maintenance supervisor says that it will cost an extra $500 to reconfigure the pump for the new use and that he could sell it used ( as is) for $4000. (a) What is the book cost of the stainless steel pump

Wilton sells softball equipment. On November 14, they shipped $3500 worth of softball uniforms to Paola Middle School, terms 1/10, n/30. On November 21, they received an order from Douglas High School for $2000 worth of custom printed bats to be produced in December. On November 30, Paola Middle School returned $400 of defective merchandise. Wilton has received no payments from either school as of month end. What amount will be recognized as net accounts receivable on the balance sheet as of November 30?

Wilton sells softball equipment. On November 14, t
A. $3500
B. $5900
C. $3100
D. $5500

Simone transferred 100 percent of her stock in Purple Company to Plum Corporation in a Type A merger. In exchange, she received stock in Plum with a fair market value of $667,500 plus $667,500 in cash. Simone's tax basis in the Purple stock was $263,000. What amount of gain does Simone recognize in the exchange and what is her basis in the Plum stock she receives

Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Tastee Restaurant accepted a Visa card in payment of a $200 lunch bill. The bank charges a 3% fee. What entry should Tastee make

Managers have to consider several contingencies when deciding on the best arrangements for their organizations. One such contingency is the organization's environment, and managers must determine whether a mechanistic or an organic structure will work better under their particular circumstances. This activity is important because the type of organizational structure chosen can be critical to an organization's success. The goal of this exercise is to test your knowledge of the characteristics of these two different organizational structures. Select the most appropriate category (mechanistic or organic structure) for each step of the characteristics of organizations.
1. Few rules and procedures (Click to select)
2. Narrow span of control (Click to select)
3. Specialized tasks (Click to select)
4. Many teams or task forces (Click to select)
5. Many rules and procedures (Click to select)
6. Decentralized hierarchy of authority (Click to select)
7. Flatter structure (Click to select)
8. Informal communication (Click to select)
9. Taller structure (Click to select)
10. Centralized hierarchy of authority (Click to select)
11. Wider span of control (Click to select)
12. Shared tasks (Click to select)
13. Formalized communication (Click to select)
14. Few teams or task forces (Click to select)
15. Best for companies operating in stable environments. (Click to select)
16. Best for companies that need to respond to rapidly changing consumer tastes. (Click to select)

so how do you make customers come and buy ur charm bracelets how do u advertise it.

The sticker price for a new car takes into account the compensation made to the salesperson who managed the sale. This compensation is an example of what type of cost?
A): dealer cost
B): shipping cost
C): manufacturing cost
D): sales commission