Answer:
the gain on retirement bond is $100,000
Explanation:
The computation of the gain or loss recognized on the bond retirement is shown below;
= Book value - paid at redemption
= ($1,500,000 + $157,500) - ($1,500,000 × 105%)
= ($1,657,500) - ($1,575,000)
= $100,000
hence, the gain on retirement bond is $100,000
The same is to be considered and relevant too
The group of retired executives that work with small businesses as advisors on a wide range of issues is called the:
Answer:
Service Corps of Retired Executives (SCORE
Explanation:
The SCORE is a non profit organization. Their members are retired executives who are engaged with the provision of free consultation and counseling services and also giving advices to entrepreneurs and small business owners.
This organization has offices in most parts of the united states and their services can be rendered in person or online. Their counseling services are in all areas and the client bears no charges.
On January 1, 2021, Reston Company purchased 25% of Ace Corporation's common stock; no goodwill resulted from the purchase. Reston appropriately carries this investment at equity and the balance in Reston's investment account was $1,170,000 at December 31, 2021. Ace reported net income of $700,000 for the year ended December 31, 2021, and paid cash dividends on common stock totaling $280,000 during 2021. How much did Reston pay for its 25% interest in Ace
Answer:
initial investment in Ace Corporation = $1,065,000
Explanation:
initial investment in Ace Corporation = December 31st balance - (25% x net income reported) + (25% x distributed dividends)
initial investment in Ace Corporation = $1,170,000 - (25% x $700,000) + (25% x $280,000) = $1,170,000 - $175,000 + $70,000 = $1,065,000
When using the equity, reported net income increases the investment account while dividends decrease it.
Leasing a car for a short time is usually cheaper than buying the same car since __________.
a.
insurance premiums are lower for leased cars
b.
leasing generally comes with a lower interest rate
c.
people who lease cars are considered more responsible than those who buy
d.
in leasing a car you pay only for the depreciation of the car rather than the total value
Answer:
D
Explanation:
For a person to Lease a car for a short time is said to be cheaper than buying the same car since in leasing a car you pay only for the depreciation of the car rather than the total value.
Is Leasing a car cheaper then buying the same car?The purchasing of a vehicle after the lease can save you a lot of extra fees and penalties.
Leasing a car has its own benefits that do appeal to a lot of drivers. it is said to Lower monthly payments.
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Indirect labor includes: (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.) check all that apply labor of employees working directly on the product.unanswered labor of the maintenance employees.unanswered labor of the clerical staff.
Answer:
labor of the maintenance employees
labor of the clerical staff.
Explanation:
As we know that the labor cost would be classified into two cost i.e.
1. Direct labor cost where the cost is directly include in the production process like payment made to assembly worker
2. The indirect labor cost where the cost is not directly include in the production process like salaries made to admin staff
So the above represents the answer
Advise the management of ABC Ltd.
about the various groups that can
be created in an organisation
= Effective group, Formal group, Informal group
Explanation:
Effective group, Formal group, Informal group is the correct answer
The management of ABC Ltd. can create various groups in an organization like Effective group, Formal group, Informal group .
What is an organization?An organization refers to a collection of people, who are involved and work together in pursuing or achieving a defined objectives. It is a type of social system which comprises human relationships in a forma manner.
In organization there is division of work among employees and the tasks are given so that the ultimate goal of the company or an organization can be achieved.
An organization has a proper hierarchy of people and follow a proper formal structure to achieve the goals of the organization.
The management of ABC Ltd. can create various groups in an organization like Effective group, Formal group, Informal group .
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If the owner contributes $19,400 and net income is $15,900, how much did the owner withdraw (owner, withdrawals)
Answer:
The owner withdrew $8,300
Explanation:
As per given Data
_______________ Assets ____Liabilities
Beginning of Year: $25,000 ___$17,000
End of Year: _____$62,000 ___$27,000
First, we need to the Beginning and Ending Equity value using following formula
Equity = Assets - Liabilities
Beginning Equity = Beginning Assets - Beginning Liabilities
placing values in the formula
Beginning Equity = $25,000 - $17,000 = $8,000
Ending Equity = Ending Assets - Ending Liabilities
placing values in the formula
Beginning Equity = $62,000 - $27,000 = $35,000
Now use the following formula to calculate the amount of drawing
Ending Equity = Beginning Equity + Contribution + Net Income - Owner withdrawal
Placing values in the formula
$35,000 = $8,000 + $19,400 + $15,900 - Owner withdrawal
$35,000 = $43,300 - Owner withdrawal
Owner withdrawal = $43,300 - $35,000
Owner withdrawal = $8,300
g A debit is used to record which of the... A debit is used to record which of the following: Multiple Choice A decrease in an asset account. A decrease in an expense account. An increase in a revenue account. An increase in the common stock account. An increase in the dividends accoun
Answer:
An increase in dividends account
Explanation:
In accounting, a debit is used to record an increase in asset, an increase in expense and a decrease in liability.
With regards to the above, the correct option is an increase in dividends account because dividend is a current asset hence a debit records an increase in assets. Dividend is the returns paid to an investor or shareholder who invest or buys shares in a company. It is the reward paid to an investor for investing in a company.
Uncollectible accounts are determined by the percent-of-sales method to be % of credit sales. How much is uncollectible-account expense for ?
Answer:
$1,160
Explanation:
Hie, I have attached the full question as an image below.
The firm usually makes provision for certain amounts so as not to overstate their profits. This expected as it is prudent than reporting profits that might never occur. Provisions of Uncollectible accounts are examples of such amounts.
An increase in Uncollectible amount compared to the opening balance is treated as an Expense in the Income Statement whilst a decrease is treated as an Income.
For this question, we are told that Uncollectible accounts are determined by the percent-of-sales method to be 4% of credit sales. Thus calculation of the 2012 uncollectible-account expense is as follows :
Credit Sales - 2012 = $44,000
Beginning Balance in allowances = $600
Therefore,
Uncollectable Amount (2012) = Credit Sales x percent-of-sales
= $44,000 x 4%
= $1,760
The Uncollectable amount has increased by $1,160 ($1,760 - $600)
Conclusion :
The collectible-account expense for 2012 is $1,160
1. Seven out of every ten families in America live
loan to loan
job to job
paycheck to paycheck
house to house
Answer:
paycheck to paycheck
Explanation:
Living from paycheck to paycheck means that a big proportion of an individual or household income is spent on expenses. It is a situation where individuals do not save for emergencies and have no tangible investments. Almost all their incomes are spent on consumables.
In the US, over 70 % of households have not saved for rainy days. Should these families lose their source of income, they will have challenges in meeting their financial obligations almost immediately.
If the direct labor rate variance is $500 favorable, and the direct labor efficiency variance is $250 unfavorable, the journal entry will include a: (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.) check all that apply Debit to direct labor rate varianceunanswered Credit to direct labor rate varianceunanswered Debit to direct labor efficiency variance Credit to direct labor efficiency variance
Answer:
Debit to direct labor efficiency variance
Credit to direct labor rate variance
Explanation:
Preparation the journal entry
Based on the information given in a situation where the direct labor rate variance is favorable with the amount of $500 which means that the FAVOURABLE VARIANCE will be CREDITED and in a situation where the direct labor efficiency variance is unfavorable with the amount of $250 which means that that UNFAVORABLE VARIANCE will be DEBITED reason been that FAVOURABLE VARIANCE are tend to be CREDITED while UNFAVORABLE VARIANCE on the other hand are tend to be DEBITED .
Therefore the journal entry will include a:
Debit to direct labor efficiency variance (UNFAVORABLE)
Credit to direct labor rate variance (FAVOURABLE)
Firms are organizations that A) take advantage of the public. B) transform resources into products. C) transform outputs into inputs. D) demand consumer outputs
Answer:
B
Explanation:
A firm is an organisation that is created to make profit. They transform resources into products
They include :
corporations limited liabilitiespartnershipsSuppose Kim purchases a new personal computer produced in China for $ 2,800. What is the effect on the components of GDP and GDP as a whole
Answer and Explanation:
The effects are as follows:
Consumption would rise by 2,800
In the investment there is no change i.e. zero
In the government expenditure also, there is no change i.e. zero
Net exports would be reduced by $2,800 i.e. (exports - imports) so here the export is $0 and the import is $2,800
So the change in GDP would be zero as
= Increase in consumption - decrease in net exports
= $2,800 - $2,800
= $0
The flowtime of the last job in a single work center’s schedule is 7 days. What is the makespan of this schedule?
Answer:
7 days
Explanation:
Makes-pan means the time it takes to complete a schedule. Last job took 7 days to complete and it was a single job, which means its makes-pan was 7 days as well.
"Tom, at Bode Corporation we align our individual goals with the company's goals.
That is, as managers, we use
to drive ourselves and our employees
to accomplish key goals that are linked with the company's success," said Tom's new
CEO.
remuneration
contingency management
quantitative management
management by objective
time-and-motion studies
True) or (False)? The monetary unit principle is the broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years.
Answer:
The monetary unit principle is the broad principle that requires identifying the activities of a business with specific time periods such as months, quarters, or years.
False.
Explanation:
This accounting assumption is based on the use of money as a unit of measurement. The monetary unit principle assumes that all transactions or economic events recorded in the accounts of an entity can be expressed and measured in monetary terms or currency, like the dollar. The principle ascribes some stability and trust in the monetary units. What is actually described above is the periodicity concept.
Landen's salary is $58,000 a year, and he contributes $4000 annually to his 401(k), while his employer matches 60%. What is his total salary please help me
Answer:
401k+4058.6
Explanation:
Landen's total salary is $64,400.
Landen's salary is $58,000 a year.He contributes $4000 annually to his 401(k).His employer matches 60% of his 401(k) contribution, which is $4000 × 0.6 = $2400.His total salary is $58,000 + $4000 + $2400 = $64,400.
Here is a breakdown of the calculation:
Salary: $58,000
401(k) contribution: $4000
Employer 401(k) match: $2400
Total salary: $58,000 + $4000 + $2400 = $64,400
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All of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier. Moon Appliance has no alternative use for its manufacturing facilities. Nadal Parts Company has offered to sell 9,000 units of Part B89 to Moon Appliance for $20.00 per unit. What should Moon Appliance do
Answer:
The correct option is a. Make the new product and buy the part to earn an extra $1.00 per unit contribution to profit.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Moon Appliance manufactures a variety of appliances which all use Part B89. Currently, Moon Appliance manufactures Part B89 itself. It has been producing 9,000 units of Part B89 annually. The annual costs of producing Part B89 at the level of 9,000 units include:
Direct materials = $3.00
Direct labor = $8.00
Variable manufacturing overhead = $4.00
Fixed manufacturing overhead = $3.00
Total cost = $18.00
All of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier. Assume Moon Appliance can purchase 9,000 units of the part from the Nadal Parts Company for $20.00 each, and the facilities currently used to make the part could be used to manufacture 7,000 units of another product that would have a $6 per unit contribution margin. If no additional fixed costs would be incurred, what should Moon Appliance do?
Select one:
a. Make the new product and buy the part to earn an extra $1.00 per unit contribution to profit.
b. Make the new product and buy the part to earn an extra $4.00 per unit contribution to profit.
c. Continue to make the part to earn an extra $3.00 per unit contribution to profit.
d. Continue to make the part to earn an extra $8.00 per unit contribution to profit.
The explanation of the answer is now given as follows:
Since all of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier, it implies that the fixed manufacturing overhead costs will not be considered in taking the decision.
We therefore proceed as follows:
Amount saved and generated per unit by outsourcing = Direct materials cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Per unit contribution margin from another product = $3 + $8 + $4 + $6 = $21
Price to buy from Supplier = $20
Extra per unit contribution to profit = Amount saved and generated per unit by outsourcing – Price to buy from Supplier = $21 - $20 = $1
Therefore, the correct option is a. Make the new product and buy the part to earn an extra $1.00 per unit contribution to profit.
1. At what level does the supervisor fit in the organizational pyramid? Describe a major trend that is changing the role of the supervisor at that level.
Answer:
1. Supervisors fit in the middle level of the organization pyramid.
2. A major trend that is changing the role of the supervisor at that level is the concepts of mentoring, coaching, and staff training. The supervisor's role is expanding to include these activities that will ensure process improvement, enforce adherence to organization's rules, and enable improved cross-functional relationships.
Explanation:
Primarily, supervisors are known to motivate employees, direct the activities of others, select the most effective communication channel, and resolve conflicts among team members. However, the changing trend now views the supervisor as an educator, sponsor, coach, counselor, and director. Therefore, the supervisor is expected to deplore all his skill-sets, including effective communication in combination with daily conflict resolution, transformational leadership, critical thinking, interpersonal relationship, time and priority management, and problem-solving skills.
Wisconsin Rentals purchased office supplies on credit. The general journal entry made by Wisconsin Rentals will include a:
Answer:
d. Credit to Accounts Payable.
Explanation:
The general journal entry by Wisconsin rentals for purchasing office supplies on credit is as follow:
Office supplies Dr XXXXX
To Account payable XXXXX
(Being office supplies purchased on credit is recorded)
Here the office supplies is debited as it increased the assets and credited the account payable as it also increased the liabilities
Your boss is the director of reporting for the AthensCounty Construction Agency (ACCA). It has beenhis job to track the cost of construction in AthensCounty. Twenty-five years ago he created the ACCACost Index to track these costs. Costs during the firstyear of the index were $12 per square foot of con-structed space (the index value was set at 100 forthat first year). This past year a survey of contractorsrevealed that costs were $90 per square foot. Whatindex number will your boss publish in his report forthis year
Answer:
Consider the equation as follows
Initial Price(Ct)/Final Price(Cf) = Initial Index(It)/Final Index(If)
Substitute $12 for Ct, $90 for Cf and 100 for If
$12/$90 = 100/If
If = 750
Therefore, the index number which will be published by the boss in his report is 750
Substitute $12 for Ct, 100 for It and 600 for If
$12/Cf = 100/600
Cf = $72
Therefore, the cost per square foot last year was $72
The financial analysis component of a business plan is to describe
a. how your business will be organized and what type of management or department structure
your business will have
b. the ?big picture? behind your business, what your business has to offer the consumer, and
why your business will be successful
c. the size of the market, how your business will fit into the market, and how your business will
stand out from other businesses in the market
d. where the funds to start and operate your business will come from, when you expect to see
profit, and how much profit you expect to see
Answer:
Option D
Explanation:
Option D explains more in terms of financial aspects
Answer:
D.where the funds to start and operate your business will come from, when you expect to see profit, and how much profit you expect to see.
Explanation:
Did on edge 2021
Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called _____ plans.
Answer:
contingency.
Explanation:
Management needs to be prepared to deal with problems and seize opportunities as they arise. A company often identifies alternative courses of action to be taken if events undercut a strategic or tactical plan. These are called contingency plans.
A contingency plan can be defined as a set of alternative plans that are designed and developed by an organization for continuous operation of the business in case of an emergency or when there is a failure in the primary (core) plan.
Precision Aviation had a profit margin of 6.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8. What was the firm's ROE
Answer: 16.88%
Explanation:
Going by the Dupont 3 step method to calculate Return on Equity, the formula for ROE is:
ROE = Net Profit Margin * Assets turnover * Equity Multiplier
= 6.25% * 1.5 * 1.8
= 0.16875
= 16.88%
how do you decide whether the company should employ aggressive capital investments in global business areas
Answer:
One key managerial tool that can help decide whether or not a company should employ aggressive capital investments in global business areas is capital budgeting.
Capital budgeting is a quantitative evaluation of the opportunities within a business space and helps management to decide based on the most acceptable trade-off between returns on investment and risk, which opportunity is worth taking a shot at.
Explanation:
Availability of Capital: Capital budgeting assumes that there is enough capital in the first place.
Payback Period: This is a budgeting technique that measures the time taken to recover the initial capital outlay into a business. Some investment have long payback periods other short payback time frame. A short payback period is generally more acceptable than a medium-term or longer-term payback. However, none of the payback period frames are in themselves good or bad. They become acceptable or not when compared to other factors. For example, in a business space or industry where there is a very high barrier to entry such as a patent protecting competition from replicating a similar product, a long-term payback becomes acceptable as long as it fall within the patent period.
There are so many other capital budgeting related factors that help the investor company decide how aggressive it should go. They are:
Internal Rate of ReturnProfitability IndexNet Present Value etcRisks: Given that the company is playing in the global business arena, knowledge about global risks and in-country specific risks are very strong determinants about whether or not the company can go aggressive.
If the financial feasibility is high and the risk is very high, the company may excercise restraint.
If the risks are very low, the company may go aggressive.
Detailed Business Plan: It is a very good practice to have a detailed business plan for investing in certain areas.
One key component of the business plan other than those already discussed is the Human Capital component.
If the risk of the investment if admissible and the financial feasibility checks out, there has to be adequate availability of human capital to manage the investments.
Regardless of how big the company is, I would thread carefully if we don't have tested and trusted hands at the executive level to oversee capital investments.
Cheers
Nebraska Inc. issues 4,100 shares of common stock for $131,200. The stock has a stated value of $15 per share. The journal entry to record the stock issuance would include a credit to Common Stock for
Answer:
$61,500
Explanation:
Based on the information given if the company
issues 4,100 shares of common stock for the amount of $131,200 in which the stock has a stated value of $15 per share which means that The journal entry to record the stock issuance would include a credit to Common Stock for $61,500 Calculated as:
Credit to Common Stock=4,100 shares*$15 per share
Credit to Common Stock=$61,500
Distinguish between the short run and the long run as they relate to macroeconomics. Why is the distinction important
Answer: On the short run production and employment is affected while on the long run the norminal variables are affected
Explanation:
Many macroeconomic models have it that the tools of monetary and fiscal policy have effects on the economy, affecting production and employment in the short run but in the long run it only affect nominal variables as price and this nominal rates has no influence on real economic quantities
year to date, company y had earned a 7 percent return. during the same time peropd, company r earned 9.25 percent and company c earned -2.25 percent. if you have a portfolio made up of 35 percent y, 40 percent r and 25 percent c, what is your portfolio return
Answer:
the portfolio return is 5.5875%
Explanation:
The computation of the portfolio return is shown below;
Company Return Investment % Return × Investment
Y 7% 35% 2.4500%
R 9.25% 40% 3.7000%
C -2.25% 25% -0.5625%
Total 5.5875%
Hence, the portfolio return is 5.5875%
Find the principal P that must be invested at rate r, compounded monthly, so that $1,000,000 will be available for retirement in t years. (Round your answer to the nearest cent.)r
Answer:
$224,174
Explanation:
Note : I have uploaded the full question below :
The Principle P that is required can be calculated from the given data though discounting future cash flows as follows :
FV = $1,000,000
r = 7½%
t = 20 × 12 = 240
P/yr = 12
Pmt = $0
PV = ?
Using a Financial Calculator to input the values as shown above, the PV would be $224,174 . Thus, the principal P that must be invested must be $224,174.
On 1/1/27, Frankfort Company sold 100 components at $700 each. All sales were cash sales. Estimated total cost servicing the components was $1,300 each year of the three-year-warranty. Frankfort spent $1,400 servicing the components in 2027. This is considered an assurance-type warranty. Using the Expense Warranty approach, what is the 12/31/27 Warranty Liability
Answer:
the 12/31/27 Warranty Liability is $2,500
Explanation:
An assurance type warranty gives a customer assurance that the Good or Service will function or work as intended.
There is no option on the customer to take the warranty or not. Therefore, an assurance type warranty is not a separate performance obligation for revenue recognition.
Assurance type warranties are accounted for in terms of IAS 37 : Provisions.
Entries that Frankfort Company will have made Using the Expense Warranty approach will be :
Date : 1/1/27
Debit : Warranty Expense $1,300
Credit : Warranty Provision $1,300
Providing for amount it will cost the entity in 2027
Date : 12/31/27
1st increase the provision
Debit : Warranty Expense $100
Credit : Warranty Provision $100
then utilize the provision
Debit : Warranty Provision $1,400
Credit : Cash $1,400
When warranty claim is subsequently received
Conclusion :
Warranty liability remaining = $3,900 - ($1,300 + $100)
= $2,500
The Lion Incorporated is currently going bankrupt and is a subsidiary of the Dorothy Ltd. The CFO of the Dorothy Ltd is preparing consolidating statements for a listing of the company on the French stock exchange. She does not include in consolidation the Lion Company, saying Lion does not have and is not in the process of having debt or equity instruments that are publically traded. The CFO is:
Answer: In compliance with the IFRS
Explanation:
Based on the information given in the question, we can say that the CFO is in compliance with the IFRS. IFRS Standards are typically used by accountable entities. We should note that even though IFRS Standards are normally permitted, it is not required for every accountable entities.
In the scenario in the question, we are informed that the CFO does not include in consolidation the Lion Company, saying Lion does not have and is not in the process of having debt or equity instruments that are publically traded. In this case, the CFO is in compliance with the IFRS.