The vessel cost 91,140 dollars with additional delivery expenses of 11,137 dollars. The vessel was put into service on September 4, 2015 and is depreciated .
What is depreciation?
Equipment and machinery seem to be costly assets. Companies can use depreciation to spread out the cost of an asset and match depreciation expenses to related revenues in the same reporting period instead of realizing the entire cost of an asset in year one. This enables a company to deduct the value of an asset over time, most notably its useful life.
Companies depreciate their assets on a regular basis in order to transfer the costs of their assets from their balance sheets to their income statements. When a company purchases an asset, the transaction is recorded as a debit to increase an asset account on the balance sheet and a credit to reduce cash (or increase accounts payable) on the balance sheet. Neither journal entry has an impact on the income statement where revenues and expenses are reported.
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The greater the difference betweenvalue creation and cost: the greater the firm's economiccontribution. the more likely it will gain competitiveadvantage. true or false
According to the given statement the greater the difference between value creation and cost: the greater the firm's economic contribution. the more likely it will gain competitive advantage is true.
Definitions and examples of economythe method or system used to create, market, and purchase commodities and services in a nation or area. The conflict had an impact on the economy. The economy of the city will benefit from more tourism. Our economy is currently either strong or weak.
How is the economy run?Therefore, an economy develops a network of marketplaces made up of sellers and buyers. These economic markets distribute limited resources among its participants.
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jersey jewel mining has a beta coefficient of 1.4. currently the risk-free rate is 3 percent and the anticipated return on the market is 6 percent. jjm pays a $3.70 dividend that is growing at 2 percent annually. do not round intermediate calculations. what is the required return for jjm? round your answer to two decimal places. % given the required return, what is the value of the stock? round your answer to the nearest cent. $ if the stock is selling for $104, what should you do? the stock is overvalued and should not be purchased. if the beta coefficient declines to 1.1, what is the new value of the stock? round your answer to the nearest cent. $ if the price remains $104, what course of action should you take given the valuation in d? the stock is overvalued and should not be purchased.
Redo stock value equation make RRoR .03 instead or .044,
$86, the stock should be purchased because it is overvalued.
What is the value of the stock?Required rate of return = Rf + (Rm-Rf)beta
-do parenthesis x beta FIRST, then add Rf
(.03-.02) x 1.4= .014
.014 + .03 = .044 = 4.4%
2. stock value= dividend (1+ growth rate)/required rate of return - growth rate
-plug in the number from the problem, RRoR is .044
3.7(1+.03)/.044-.03= $86
*course of action: do not buy because the stock is overvalued at $104
3. redo required rate of return: make beta 1 instead of 1.2 (answer is .03 or 3%)
-redo stock value equation: make RRoR .03 instead or .044
-answer= $86, so the stock should be purchased because it is overvalued
Redo stock value equation make RRoR .03 instead or .044,
$86, the stock should be purchased because it is overvalued.
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If there is a price ceiling of $7. 50, the difference between the price consumers have to pay and the highest price that they are willing to pay is, in numerals, $_____
If there is a price ceiling of $7.50, the difference in dollars between what buyers must pay and what they are willing to pay at the maximum price is $7.50.
Does a price cap alter the price at which things are balanced?Simply put, a pricing ceiling is a legal restriction. The economic situation is referred described as being in "equilibrium." The price ceiling may or may not be followed by consumers, therefore the actual price may be at or over the ceiling.
Is the $4.00 price cap a legally binding agreement)?Given that it is higher than the equilibrium price, a price floor set at $4 will be legally obligatory. At a price of $4, there are 12 items supplied and 6 items required, resulting in a surplus of one item.
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payton corporation has sales of $177,000, a contribution margin ratio of 37%, and a profit of $42,000. if 6,000 units were sold, what are total variable costs?
Sales for the company were $177,000, the contribution margin was 37%, and the profit was $42,000. In the event that 6,000 units are sold, the total variable expenses come to $111,510.
The selling price per unit less the variable cost per unit is the contribution margin. The amount of sales revenue referred to as "Contribution" is the fraction that is not used to pay variable costs and hence helps to cover fixed costs. The revenue that remains after all variable costs have been subtracted from total sales is known as the contribution margin. It is a gauge of how profitable particular goods or services are. Contrarily, the profit margin is calculated as net income divided by total sales.
The margin of contribution is 177000 * 37%
margin of contribution = 177000 * 0.35 = $65,490
Total variable costs are 177000 - 65490 = 111510
In contrast, the variable cost ratio is 63% if the contribution margin is 37%. Therefore, variable expenses are equal to sales multiplied by 63%
Variable Expenses = 177,000 * 63%
Variable Expenses = 177000 * 0.63 = $111,510
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if more than one responder is available and trained in cpr
If more than one responder is available and trained in CPR, the most important thing to do is to begin CPR immediately.
What is CPR?Cardiopulmonary Resuscitation, or CPR, is an immediate life-saving technique used when the heart stops beating. The chances of survival after cardiac arrest can be increased by two or three with immediate CPR.
The American Heart Association extends an invitation to you to share our vision of a world free of cardiac arrest. In the United States, cardiac arrest claims the lives of 350,000 people each year. Large number. larger opportunity We can reduce that number to zero with your assistance.
It is reasonable for rescuers to perform chest compressions at a rate of 100 to 120/min and to a depth of at least 2 inches (5 cm) for an average adult in cardiac arrest victims while avoiding excessive chest compression depths (greater than 2.4 inches [6 cm]).
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Complete question:
If more than one responder is available and trained in CPR, the most important thing to do is ___________.
which statement is a true description of assets? a) dividends paid to the shareholders b) amounts owed to employees c) resources used by the company
Assets are resources that a corporation owns or controls, have a monetary worth, and are anticipated to generate future financial benefits. It is correct to say "c) resources used by the company" when describing assets.
These assets may include both tangible ones like money, stock, real estate, and machinery, as well as intangible ones like patents, trademarks, and copyrights.
As dividends are payments made by a firm to its shareholders out of its profits, "a) dividends given to the shareholders" cannot be used to describe assets. They are not assets that the business owns or controls. A statement of assets does not include "b) Assets are not defined as "amounts owing to employees." Liabilities, which are responsibilities or debts that a business owes to others, include sums owing to employees. They stand in for monetary commitments the business will have to make in the future.
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an admin has noticed that the proration for their subscription products is not coming out to what they would expect. with a start date of january 1, 2017 and end date of january 1, 2018, the prorate multiplier is coming out to 1,083. the cpq admin is expecting a prorate multiplier of 1,003. what action should the admin take to correct this pricing issue?
The admin should change the subscription prorate precision in package settings to ' Month + day'.
The Subscription CPQ package setting The formula that CPQ used to determine a quotation line's Prorate Multiplier field is controlled by Prorate Precision. The prorate multiplier of a quotation line indicates how many pricing periods are included in the quote line's term, and the prorated list price of a quote line is the list unit price of the line times the prorate multiplier. It is obvious from the question above that the subscription runs from January 1, 2017, to January 1, 2018. Hence, it has been a year and a day. As a result, the setting in the package needs be changed to calculate both month and day since the subscription is for 12 months and a day in order for the subscription prorate calculation to be as requested by the Admin.
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dentify each of the following costs as either direct materials, direct labor, or factory overhead. The company manufactures tennis balls and bicycles.
1. Rubber used to form the cores 2. Brakes 3. Insurance on factory 4. Factory rent 5. Chains 6. Insurance on factory Manufacturing Costs
Manufacturing costs are the sum of all costs required to make a certain product. These costs can be further categorized as either direct materials, direct labor, or factory overhead.
Direct materials are utilized to make the brakes and the rubber that forms the cores. Factory overhead includes insurance.
Is production equipment subject to depreciation?Capital assets include equipment. A capital asset's cost can be written off, but not all at once. In principle, you depreciate an asset by subtracting a percentage of the cost from your tax return over a number of years.
How is equipment depreciation calculated for manufacturing purposes?Divide the equipment's initial cost, less its salvage value, by the anticipated number of units the asset should produce over its useful life to arrive at the depreciation expense for a given year. Then, multiply that quotient by the quantity of units (U) utilized this year.
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how does this act impact college students who want to open a credit card?
The CARD Act also established guidelines for young adults looking to open credit card accounts by establishing a general minimum age requirement to open a credit card without a cosigner – to the age of 21 – with exceptions for young adults who can independently demonstrate their ability to repay their credit card debt.
What effect does this law have on college students who want to apply for credit cards?How does the CARD Act safeguard young people or college students? According to the CARD Act, anyone under the age of 21 must be accompanied by a parent or other adult who is at least 21.
What are the Credit Card Act's three main effects?The three main categories of the act's credit card provisions include consumer protections, improved consumer disclosures, and protections for young customers. Here are a few of the most important safeguards the CARD Act offers.
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in a consumer society, many adults channel creativity into buying things. true or false
Answer:yes
Explanation: people feel the need to buy because of advertisements and we have become more of a consumer economy through social media.
you bought a house exactly 16 years ago. you borrowed money under a 30 year mortgage from wintrust to buy the house. your monthly payment is $300. the loan has a fixed rate of 4% per year. i want to pay off the bank and be debt free. how much must you pay the bank to extinguish your loan?
To find out how much you would need to pay to extinguish your loan, you would need to calculate the remaining balance on the loan. Since you have a 30-year fixed rate mortgage with a 4% interest rate, you can use the following formula to calculate the remaining balance:
Remaining balance = Original loan amount x (1 + interest rate)^number of payments - (monthly payment x (((1 + interest rate)^number of payments - 1) / interest rate))
In this case, the original loan amount is unknown, but you can use the remaining balance and the number of payments you've made (which is 16 years x 12 months/year = 192 payments) to solve for it. You can use the above formula to solve the original loan amount, and then use the original loan amount to calculate the remaining balance by using the original loan amount and number of payments made (192) and then multiply it with the remaining balance.
It is important to note that the interest rate provided is annual, so you will have to divide it by 12 to get the monthly interest rate.
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Suppose the market for dodgeballs is competitive and in equilibrium. What will happen in the market if: 1. Games using dodgeballs become hugely popular the price of rubber, an input into the production of dodgeballs, increases 2. Assume that all dodgeballs are made of rubber and there are no close substitutes. The competitive equilibrium price O changes ambiguously O increases O decreases The competitive equilibrium quantity O changes ambiguously O increases O decreases
The competitive equilibrium price and quantity will both increase.
The price of dodgeballs will increase and the quantity of dodgeballs produced will decrease. This is because as the price of rubber increases, the cost of production for dodgeballs increases. This causes producers to reduce the quantity they produce and raise the price, resulting in a higher price and lower quantity in the market.Since the market is competitive, firms will pass this increase in costs onto consumers by charging a higher price. At the same time, the higher cost of production will lead firms to reduce their output of dodgeballs since their profits will decrease. This will lead to a decrease in the quantity of dodgeballs in the market.
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What role do investment banks play in the economy?
Investment banks help the economy and bigger financial markets by bringing buyers and sellers together and so enhancing market liquidity. The acts of the banks also increase the effectiveness of financial development.
What does an investment banker mostly do?Investment bankers help their clients raise money on the capital markets by selling debt or stock in the companies. A few of the duties of the profession include assisting clients with mergers and acquisitions (M&As) and advising them on unique investment opportunities like derivatives.
What is the purpose of investment banking?Investment banking is a unique branch of banking that assists people or organisations in raising funds and offers them financial consulting services. They serve as a bridge between investors and security issuers and support the establishment of new businesses.
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Need help
what did police find in Bidens home?
Answer:
Explanation:
The FBI spent more than 12 hours searching President Biden's Wilmington, Del., residence Friday, and found more classified documents.
Some of the items date back to Biden's time as a a senator, while others were from his time as vice president, said Biden's personal attorney, Bob Bauer, announced the extraordinary development in a Saturday night statement. The Justice Department also took some handwritten notes for further review, he said.
A spokesman for the U.S. attorney in Chicago, who is overseeing the investigation of the documents until special counsel Robert Hur is in place, confirmed the search, saying that the FBI had "executed a planned, consensual search" of Biden's home.
It's the latest in a series of disclosures that has raised questions about Biden's handling of classified material, and comes after the White House had said that searches of Biden's residence had been complete.
Biden says he has 'no regrets' on how he's handled classified documents discovery
POLITICS
Biden says he has 'no regrets' on how he's handled classified documents discovery
Biden has been defiant about the issue, telling reporters on Thursday that he has "no regrets" about how he and his team have handled the discovery and disclosure of the documents.
Answer: he fbi found classified documents
Explanation:
Florida palms country club adjusts its accounts monthly. Club members pay their annual dues in advance by january 4. The entire amount is initially credited to unearned membership dues. At the end of each month, an appropriate portion of this amount is credited to membership dues earned. Guests of the club normally pay green fees before being allowed on the course. The amounts collected are credited to green fee revenue at the time of receipt. Certain guests, however, are billed for green fees at the end of the month. The following information is available as a source for pre- paring adjusting entries at december 31.
salaries earned by golf course employees that have not yet been recorder or paid amount to $9,600
Higher Accounts When revenues are earned but not yet collected, an asset called receivable is increased, or debited. The associated revenue account receives a credit.
The adjustment to revenue for which the seller has met its commitments but has not yet been paid or billed is recorded in which of the following entries?Revenues that the seller has earned from commitments fulfilled but have not yet been credited to accounts receivable should be recorded. Any part that the seller has satisfied its commitments during the current period should be deducted from Deferred Revenue.
When creating an adjusting entry for a transaction including accumulated income, which account should be credited?Accounts receivable are debited and the revenue account is credited to record accrued revenue. Accounts receivable and will be credited in the adjusting journal entry.
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how to catastrophe proof fertilizers companies are considering new ways to make fertilizer as infl ation, disease, and war pushprices to all-time highs
The plasma oxidizes the nitrogen in the air and transports it to absorption columns, where it bubbles up through water.
The white shipping container appears little in the midst of 2,400 hectares of tomatoes, peppers, and other products near Fresno, California. Light shines through the porthole windows of a humming plasma reactor, which is fuelled by two rows of neighboring solar panels.
The plasma oxidizes the nitrogen in the air and transports it to absorbtion columns, where it bubbles up through water. Nitrogen oxides combine with hydrogen and oxygen in water to generate nitric acid, which is then kept in tanks.
As an alternative to conventional nitrogen fertilizer, the diluted nitric acid is delivered via a pipe attached to the farm's irrigation system.
Heavy sanctions imposed on Russia and Belarus during the February 2022 attack on Ukraine boosted the price of natural gas even further.
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Consider a business that processes goods for delivery. It is in a large warehouse and has everything in it from detergent, to furniture, to electronics. There are video cameras throughout the warehouse, and the staff is all aware of that fact. There is also a video camera in the break room, but this one has audio capabilities. Each camera creates digital files backed up on a company server. What are the advantages and disadvantages of this system for the employer and the employees? What policies should the employer put in place to balance crime prevention and employee privacy?
The advantages of this video system for the employer is the greatest control, while for employees is the capture of their actions. The disadvantages for the employer is the price of maintenance, and for the employee, over control. Policies that can balance crime prevention and employee privacy should be based on ethics.
How can the video system be positive for a company?Aid in the control and inhibition of unethical and fraudulent attitudes, such as conflicts between employees and theft, as well as increasing the supervision of the organization's entries and exits.
Therefore, it is essential that the organizational video system is based on ethics and does not invade employees' privacy while at work, with cameras only in collective places.
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if the indian government passed legislation that was designed to limit the amount of mary kay products that could be imported into india, this would be an example of a
If the indian government passed legislation that was designed to limit the amount of Mary Kay products that could be imported into india, this would be an example of a quota.
Products from Mary Kay, Avon, and other cosmetics producers are produced and marketed all over the world, in places including the United States, Australia, India, and China. As a result, the cosmetics sector provides as an illustration of global competition.
When Mary Kay entered the Indian market, Mumbai's average salary was $2,850 and Delhi's was $1,420. (U.S.D.). Some of the highest average per capita earnings could be found in urban India. The "mass-tige pricing" plan, which would make Mary Kay affordable for the typical middle-class Indian consumer, was chosen by Mary Kay management in order to be successful in the Indian market. This is an illustration of how economic factors impact Mary Kay's brand's marketing strategy in India.
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how did overproduction of goods lead to the stock market crash
The manufacturing and agricultural sectors both overproduced goods. Since there was an excess due to industries producing more goods then there was a need for, prices fell.
Why do we manufacture?Manufacturing is the process of creating products, either manually or mechanically, with the goal of selling them to clients. Raw materials or individual elements of a product . for example may be the items used in production. Production lines with lots of equipment and skilled staff are typically used for manufacturing.
Which three primary manufacturing types are there?Making processes come in three different flavors: make to stocking (MTS), manufacture to order (MTO), and make for assemble (MTA).
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Toward the end of your career, your human capital tends to ___________________, whereas your assets tend to ______________
Human capital tends to erode as you near the end of your career, whereas assets tend to rise.
As we age, our human capital tends to decline due to the natural aging process, as our physical and mental abilities start to diminish. This means that our ability to work and contribute to the economy may become increasingly limited. At the same time, our financial assets tend to accumulate, as we accumulate savings, investments, and insurance policies. This is especially true if we have been able to save throughout our working lives and have accumulated a substantial amount of wealth. As we near the end of our careers, our human capital may become limited, but our financial assets can still continue to grow.
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One of the effects of gas prices rising from about $2 to about 4 per gallon was airlines ordering new, fuel-efficient aircraft. a. True b. False
The costs of money that households spend on gas is likely to increase as gas prices rise, leaving less money for other products and services.
What impact do oil prices have on gas prices?The cost of crude oil makes up the majority (54%) of the retail cost of regular gasoline, according to the most recent Energy Information Administration data. Distribution and marketing account for 17%, taxes for 18%, and refining for 11%.
Why are gas prices so high?Similar to other price rises, rising gas prices are a result of global inflation rates that have risen across almost all commodities and services. However, the price of gasoline has been increasing considerably more quickly than the price of other goods and services.
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your supervisor has asked you to increase your expense account meal and taxi charges to match his. the increases will still be lower than the per diem allowed by your company. you will both make a little extra on the recent trip you took. this has created a(n):
You will both make a little extra on the recent trip you took. this has created a(n) ethical dilemma for you.
A problem in choosing between two options where neither is wholly acceptable from an ethical standpoint is known as an ethical dilemma (also known as a moral dilemma, ethical paradox, or moral conundrum). Although we encounter numerous ethical and moral issues throughout our lives, the majority of them have relatively simple fixes.Given how frequently they arise in the workplace, ethical dilemmas are particularly important in the professional world. Some businesses and professions (like the CFA) have their own codes of ethics that they follow. Disciplinary sanctions may result from standards violations.The potential for ethical conundrums exists in almost every aspect of the business. It might cover interactions with management, clients, customers, and business partners.To know more about ethical dilemma here
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On your recent vacation, you both made a little more money. You now find yourself in an ethical bind because of this.
An ethical dilemma occurs when there is a choice between two choices, yet neither one is entirely ethically acceptable (also known as a moral dilemma, ethical paradox, or moral conundrum). Although we run across many moral and ethical dilemmas in life, the bulk of them may be resolved rather easily.
The importance of ethical issues in the professional environment is shown by the frequency with which they occur in the workplace. There are certain codes of ethics that certain companies and professions (like the CFA) adhere to. Standards infractions may lead to disciplinary measures.
Every component of the business has the potential to present ethical dilemmas. It might include communications with management, customers, clients, and business partners.
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How was the combination of the Bombas social mission, its "Bee Better" motto, the direct-to-consumer sales model, its Customer Happiness Team, and its promotional activities contributed to Bombas’s success?
Describe possible future marketing actions Bombas should consider
The success of Bombas is largely due to the company's dedication to community service. Customers are also encouraged to be their best selves and make a difference in the world by the company's "Bee Better" slogan.
What does Bee Better mean?The combination of Bombas' social mission, its "Bee Better" motto, direct-to-consumer sales model, Customer Happiness Team, and promotional activities have contributed to the company's success by creating a brand that is focused on customer satisfaction and community service. Bombas has built a loyal customer base by offering high-quality products, exceptional customer service, and a dedication to giving back. The company's focus on its social mission and motto, "Bee Better," has made it stand out from other manufacturers of socks and helped customers stick with the brand.
As part of its social mission, Bombas has given away more than 10 million pairs of socks to people in need since its inception. The slogan of Bombas, "Bee Better," encourages customers to purchase socks to help others, and the company has collaborated with well-known personalities and influencers to promote its mission.
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true or false: the carrying value of bonds at any date after issuance should always be equal to the fair value of the bonds.
The carrying value of bonds at any date after issuance should always be equal to the fair value of the bonds - True.
The net amount, also known as carrying amount or book value, at which bonds are reported on the balance sheet is equal to the par value of the bonds less any unamortized discount or premium. Bonds' carrying values at maturity are always equal to their par values.
A bond's carrying value is more than its face value when it is issued at a premium. A bond's carrying value is lower than its face value when it is issued at a discount.
At maturity, the bond's face value will be equal to the book value, or carrying value. Regardless of whether issuance was at a premium, discount, or par, both of these claims are accurate.
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It should always be the case that the carrying value of bonds at any time after issuance equals their fair value.The statement is True
The amount at which bonds are reported on the balance sheet is the net amount, which is also referred to as the carrying amount or book value. It is equal to the bond's par value less any unamortized discount or premium. At maturity, bonds' carrying values are always equal to their par values.Bonds that are issued at a premium have a carrying value that is higher than their face value. Bonds that are issued at a discount have a carrying value that is less than their face value.The face value of the bond will match its carrying value when it matures. No matter whether issuance.To know more about bonds here
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the debeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. if the company earns positive economic profits this year, then the price of diamonds will: group of answer choices be equal to the marginal cost of diamonds. exceed the marginal cost of diamonds but be equal to the average total cost of diamonds. exceed both the marginal cost and the average total cost of diamonds. be equal to the average total cost of diamonds.
If the company makes a profit this year, the price of diamonds will be higher than both the marginal cost and the average total cost of diamonds.
What is mean by profit?Corporate profit is the money that remains after a company has paid all of its expenses. Top-line revenue includes all money collected by a corporation during the reporting period from services rendered or product sales. A company's expenses will be paid from revenue.The DeBeers Company is a profit-maximizing monopolist with monopoly power in diamond distribution. If the company makes a profit this year, the price of diamonds will be higher than both the marginal cost and the average total cost of diamonds.Because the monopolist can choose the price that maximizes profit, a monopoly can sometimes emerge naturally when a firm experiences economies of scale.To learn more about profit refer to :
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C) If the business makes a profit this year, the price of diamonds will be higher than their marginal cost but equal to their average total cost.
Why is a healthy economy important?A balanced economy means that long-term economic growth is sustainable and that the economy is expanding throughout a variety of sectors, rather than being concentrated in a single industry or region. A balanced economy has numerous important characteristics. Low inflation helps prevent an unsustainable boom and bust cycle in the economy.
What is the balance of economic growth?Resources, labor, capital goods, and entrepreneurship are the four main drivers of economic growth. The United States has a lot of each one.
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In your own words, explain Supply and Demand. In Assignment 1: Scarcity and Choice you are given an example of the supply and demand of PlayStation 2. Think about your life and then provide one example of your own of Supply and Demand.
RESPOND IN 5 SENTENCES !
Supply and demand is the fundamental concept of economics that explains how prices are determined in a market economy. The law of supply and demand states that the price of a good or service is determined by the intersection of the quantity supplied and the quantity demanded. When the quantity supplied is greater than the quantity demanded, the price will decrease, and when the quantity supplied is less than the quantity demanded, the price will increase. In my own example, during the holiday season, the demand for certain gifts such as toys, electronics, and clothing increases, while the supply remains the same, therefore prices tend to increase, and you can find some goods out of stock. Another example can be during a pandemic where the demand for masks and hand sanitizers increases while the supply is limited, prices tend to increase.
Prepare journal entries to record the following transactions involving the short-term stock investments of Duke Co. , all of which occurred during the current year. A. On March 22, purchased 1,000 shares of RPI Company stock at $10 per share. Duke's stock investment results in it having an insignificant influence over RPI. B. On July 1, received a $1 per share cash dividend on the RPI stock purchased in part a. C. On October 8, sold 50 shares of RPI stock for $15 per share
the following transactions concerning Duke Company's short-term stock investments, all of which took place in the current year; for more information, scroll down.
What do you mean by investment?A investment made with the goal of earning income or capital gain is termed as an investment. An asset's value increasing over time is called to as appreciation. When an individual invests in a good, they need not intend to utilize it as a supply of immediate consumption, but rather as a tool for future money creation.
Transation- (a)
General journal- short term investments - trading (RPI company)
cash (1000* $10)
(To record purchase of short term investments)
Debit - 10,000
Credit - 10,000
Transation- (b)
General journal
Cash (1000 * $1)
dividend revenue
(To record dividend received)
Debit - 1,000
Credit - 1,000
Transation (c)
General journal- cash short term investments - Trading (RPI company)
Gain on sale of short term investment
(To record sale of short term investment)
Debit - 750
Credit - 500
250
Transation c
Cash= 50 * $15 =$750
short term investment - Trading (RPI Company) = 50 * $10 =$500
Gain on sale of investments 50 * $5 =$250
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andre's bakery has sales of $487,000 with costs of goods sold of $263,000. interest expense is $26,000 and depreciation is $42,000. the tax rate is 21 percent. what is the net income?
Sales at André's bakery were $487,000. Cost of products sold were $263,000. Depreciation is $42,000, and interest expense is $26,000. The tax percentage is 17%. In this instance, net income is $123,240.
Do interest costs count as current liabilities?Prior to being expensed, interest costs may be listed as current liabilities on the balance sheet. In the event that it was accrued before being paid, record it in a liabilities account. Additionally, interest is due on this liabilities account. This is the cost of borrowing that the business has undertaken but not yet paid back. For the simple fact that it is an income account, interest income is often taxable and shown on the income statement. A non-operating item that appears on the income statement is interest expense. It stands for the interest due on all borrowings, including bonds, loans, convertible debt, and credit lines. In essence, it is determined by multiplying the interest rate by the debt's outstanding principal.
487,000-(263,000+26,000+42,000)=156,000
156,000-(156,000*.21)=123,240
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alex bought a chain of salons and spas. he invested his wealth and time to enhance the salons with full-service bars, child care for employees and guests, and premium furniture. since other salons and spas in the area are not offering these types of amenities, he expects this innovation will result in a profit. alex is a(n)
Alex is an entrepreneur. He has identified a gap in the market for salons and spas that offer full-service bars, child care, and premium furniture and has taken the initiative to invest his wealth.
It also offers the time to fill that gap by purchasing a chain of salons and spas and enhancing them with these amenities. By doing so, he is positioning himself to be competitive in the market and to potentially generate a profit. Entrepreneurs are individuals who identify opportunities and take the risk to start or invest in a business in order to meet a need or solve a problem. This can involve introducing new products or services, improving existing ones, or finding new ways to reach customers. Alex's actions demonstrate his entrepreneurial mindset and willingness to take risks in order to achieve his business goals.
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You and your partner have become very interested in cross-country motorcycle racing and wish to purchase entry-level equipment. You have identified two alternative sets of equipment and gear. Package K has a first cost of $150,000, an operating cost of $6,500 per quarter, and a salvage value of $30,000 after its 2-year life. Package L has a first cost of $210,000 with a lower operating cost of $2,500 per quarter and an estimated $15,000 salvage value after its 4-year life. Which package offers the lower present worth analysis at an interest rate of 20% per year, compounded quarterly
Answer:
Explanation: To determine which package offers the lower present worth analysis, we need to calculate the present worth of each package using the formulas provided. The present worth of an investment is the current value of the future cash flows generated by that investment.
Package K:
First, we need to calculate the quarterly operating cost for 2 years: $6,500/quarter x 4 quarters/year x 2 years = $52,000
Then we need to calculate the total cost of the package: $150,000 + $52,000 + $30,000 = $232,000
Now we need to calculate the present worth of Package K: $232,000 / (1+0.2)^4 = $150,441.18
Package L:
First, we need to calculate the quarterly operating cost for 4 years: $2,500/quarter x 4 quarters/year x 4 years = $40,000
Then we need to calculate the total cost of the package: $210,000 + $40,000 + $15,000 = $265,000
Now we need to calculate the present worth of Package L: $265,000 / (1+0.2)^8 = $150,441.18
As we can see, package K has the same present worth of $150,441.18 at 20% per year, compounded quarterly. So both package K and package L has the same present worth analysis.