Pls help me with the graph , the choices are below

Pls Help Me With The Graph , The Choices Are Below

Answers

Answer 1

the answer to your question is graph 1


Related Questions

Milton Mende purchased the Star Midas Mining Co., Inc., for $6,500. This Nevada corporation was a shell corporation with no assets. Mende changed the name of the corporation to American Equities Corporation (American Equities) and hired Bernard Howard to prepare certain accounting reports so that the company could issue securities to the public. In preparing the financial accounts, Howard (1) made no examination of American Equities' books; (2) falsely included an asset of more than $700,000 on the books, which was a dormant mining company that had been through insolvency proceedings; (3) included in the profit and loss statement companies that Howard knew American Equities did not own; and (4) recklessly stated as facts things of which he was ignorant. Did Howard act unethically

Answers

Answer:

Yes.  Howard acted unethically as a professional accountant.

Explanation:

With the stated actions of Howard, it is very clear that he did not follow the ethics of his profession.  To act ethically as an accountant, Howard should have observed the ethical conducts expected of a professional account.  They include observing integrity, confidentiality, and objectivity, demonstrating professional competence and due care,  and acting in the public interest.  Through his stated reckless assertions, misrepresentation of facts and figures, and lack of due professional care, Howard demonstrated the highest form of unethical behavior.

Which methods can be used to run a query? Check all that apply.
On the Create tab, in the Queries group, click Run.
In query Design view, on the Design tab, click Run.
Switch to Datasheet view before any other commands.
Close the Show Table dialog box in the Datasheet view.
On the Create tab, in the Queries group, click Create Query.

Answers

Answer:

Option B and C

Explanation:

A query can be run by selecting query option visible through deign view option. After selecting the appropriate option, the query must be run. This shall execute the function for the selected option.  

Like wise in data sheet view, one can see the action query  before running it.  

Hence, option B and C are correct

Answer:

B) In query Design view, on the Design tab, click Run.

C) Switch to Datasheet view before any other commands.

Explanation:

A trader wishes to know the cost of goods sold during the year.
Which financial statment will provide the answer? *
A Balance sheet
B Profit and loss Account
C Trading Account
D Trial Balance​

Answers

The answer should be C

Explain the positive and negative aspects of entrepreneurship. Draw evidence to support your claim from two other sources.

Answers

Answer:

Advantage #1: A flexible schedule – both in terms of when and where you work. ...

Advantage #3: It's exciting and fulfilling. ...

Advantage #4: The salary makes sense. ...

Disadvantage #1: You wear a lot of hats. ...

Disadvantage #2: You are always at work.

Explanation:

The positive (advantages) and negative aspects (disadvantages) of entrepreneurship are enumerated below:

Control: Entrepreneurship offers the entrepreneur a sense of being in charge and being the captain of the ship.  With freedom of control comes increased risk of business failure.

Responsibility:  The entrepreneur is responsible for her income for life sustenance.  There is no more reliance on a period paycheck.  The entrepreneur can decide to delight her customers or to scare them away.

Flexibility: The entrepreneur enjoys flexibility in work schedule.  She works at her own pace.  The downside is that your customers dictate when you work.  The workload may increase more than your capacity to handle. Thus, flexibility does not happen always until you have established the business properly.

Profit-making:  As the business makes profits, the entrepreneur is entitled to receive all.  When it makes losses, the entrepreneur similarly bears all.

Thus, there are numerous benefits in being an entrepreneur.  But there are also negative aspects of entrepreneurship.

Read more about entrepreneurship at https://brainly.com/question/21012374 and https://brainly.com/question/24497797

On January 1, Smith Industries leased equipment to a customer for a four-year period, at which time possession of the leased asset will revert back to Smith. The equipment cost Smith $425,000 and has an expected useful life of six years. Its normal sales price is $425,000. The residual value after four years is $100,000. Lease payments are due on December 31 of each year, beginning with the first payment at the end of the first year. The interest rate is 8%. Calculate the amount of the annual lease payments. (Round your answer to the nearest whole dollar.)

Answers

Answer:

The amount of the annual lease payments is $98,124.

Explanation:

This can be calculated using the formula for calculating loan amortization as follows:

P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)

Where,

P = Annual lease payments = ?

A = Amount to be recovered through periodic lease payments = Equipment cost - Residual value = $425,000 - $100,000 = $325,000

r = interest rate = 8%, or 0.08

n = Number of years of lease term  = 4

Substituting all the figures into equation (1), we have:

P = ($325,000 * (0.08 * (1 + 0.08)^4)) / (((1+0.08)^4) - 1)

P = $98,124.2614475627

Rounding to the nearest whole dollar as required, we have:

P = $98,124

Therefore, the amount of the annual lease payments is $98,124.

The following is selected information from Windsor, Inc. for the fiscal year ending October 31, 2022. Cash received from customers $129000 Revenue recognized 193500 Cash paid for expenses 73100 Cash paid for computers on November 1, 2021 that will be used for 3 years 20640 Expenses incurred including any depreciation 102340 Proceeds from a bank loan, part of which was used to pay for the computers 43000 Based on the accrual basis of accounting, what is Windsor's net income for the year ending October 31, 2022

Answers

You add and divide them by 129000

The following information applies to the questions displayed below.
On October 29, 2014, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpetual inventory method. The razors have a 90-day warranty that requires the company to replace any nonworking razor. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company’s cost per new razor is $20 and its retail selling price is $75 in both 2014 and 2015. The manufacturer has advised the company to expect warranty costs to equal 8% of dollar sales. The following transactions and events occurred.
2014
Nov. 11 Sold 105 razors for $7,875 cash.
30 Recognized warranty expense related to November sales with an adjusting
entry.
Dec. 9 Replaced 15 razors that were returned under the warranty.
16 Sold 220 razors for $16,500 cash.
29 Replaced 30 razors that were returned under the warranty.
31 Recognized warranty expense related to December sales with an adjusting
entry.
2015
Jan. 5 Sold 150 razors for $11,250 cash.
17 Replaced 50 razors that were returned under the warranty.
31 Recognized warranty expense related to January sales with an adjusting
entry.
Required
1. Prepare journal entries to record these transactions and adjustments.
2. How much warranty expense is reported for November and for December?
3. How much warranty expense is reported for January?
4. What is the balance of the Estimated Warranty Liability account as of December 31?
5. What is the balance of the Estimated Warranty Liability account as of January 31?

Answers

Answer:

Lobo Co.

Journal Entries:

Nov. 11 Debit Cash $7,875

Credit Sales Revenue $7,875

To record the sale of 105 razors for cash.

Nov. 11 Debit Cost of Goods Sold $2,100

Credit Inventory $2,100

To record the cost of goods sold for 105 razors at $20 each.

Dec. 16: Debit Cash $16,500

Credit Sales Revenue $16,500

To record the sale of 220 razors for cash.

Debit Cost of Goods Sold $4,400

Credit Inventory $4,400

To record the cost of goods sold.

Jan. 5: Debit Cash $11,250

Credit Sales Revenue $11,250

To record the sale of 150 razors for cash.

Debit Cost of Goods Sold $3,000

Credit Inventory $3,000

To record the cost of goods sold.

Adjusting Journal Entries:

Nov. 30: Debit Warranty Expense $630

Credit Warranty Liability $630

To record the warranty expense for November sales.

Dec. 9: Debit Warranty Liability $300

Credit Inventory $300

To replace 15 razors.

Dec. 16: Debit Warranty Expense $1,672

Credit Warranty Liability $1,672

To record the warranty expense for December sales.

Dec. 29: Debit Warranty Liability $600

Credit Inventory $600

To replace 30 razors.

Dec. 31: Debit Income Summary $2,302

Credit Warranty Expense $2,302

To recognize the warranty expense for the period.

Jan. 5: Debit Warranty Expense $900

Credit Warranty Liability $900

To record warranty expense for January sales.

Jan. 17: Debit Warranty Liability $1,000

Credit Inventory $1,000

To record the replacement of 50 razors.

Jan. 31: Debit Warranty Expense $100

Credit Warranty Liability $100

To recognize warranty expense for January sales.

2. The Warranty Expense for November is $630 and for December is $1,602.

3. The Warranty Expense for January is: $1,000

4. The balance of the Estimated Warranty Liability account as of December 31 is:

= $1,402

5. The balance of the Estimated Warranty Liability account as of January 31 is:

= $1,302

Explanation:

a) Data and Calculations:

Cost per new razor = $20

Retail selling price = $75

Expected warranty costs = 8% of dollar sales

b) Estimated Warranty Liability Account:

Nov. 30: Credit Warranty Liability  $630

Dec. 9: Debit Warranty Liability    ($300)

Dec. 16: Credit Warranty Liability $1,672

Dec. 29: Debit Warranty Liability  ($600)

Dec. 31: Balance                           $1,402

Jan. 5: Credit Warranty Liability    $900

Jan. 17: Debit Warranty Liability ($1,000)

Jan. 31 Balance                            $1,302

Warranty Expense Account:

Nov. 30: Debit Warranty Expense  $630

Dec. 16: Debit Warranty Expense $1,672

Dec. 31: Debit Income Summary $2,302

Jan. 5: Debit Warranty Expense $900

Jan. 31: Debit Warranty Expense $100

Jan. 31: Debit Income Summary $1,000

The market for bell peppers is perfectly competitive and currently has an equilibrium price of $3 and the number of bell pappers traded is 6. Suppose the government imposes a price floor of $1 on this market. What will be the size of the shortage in this market

Answers

Well, the price would increase by 1 dollar, so the shortage would be 2 less.

There should be no shortage.

What is a price floor?

It is the minimum price where the producer should charge also at the same time it should be binding and considered effective. In the case when the price floor should be above the equilibrium price so it should be the surplus while on the other hand if the price floor is below the equilibrium price so that means it is no surplus. Also, the shortage is not possible

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A company called Brightline has made a deal with Disney to create a rail station at Disney Springs on its planned route from Miami to Tampa. Read about this. Is a private rail link a good idea? Will it make Amtrak function any better? Will it create openings for private sector rail owner/operators as was the case in the USA before Amtrak and as is the case in the UK where not all rail services are BritRail?

Answers

Answer:

The answer for all three questions is yes.

A private player will increase competition and will make Amtrak provide a better service. Private companies are generally more efficient since their focus is on creating value.

Amtrak might benefit since the private rail might be used as additional help when their service is overloaded.

Increased competition and increase in private investment is always better for everyone since it creates new opportunities.

Madison Foods Corp. is frustrated in its efforts to sell products in Europe because several countries are demanding that the company label products in the specific language associated with the country. These demands are examples of a Multiple Choice trade obstacle. trademark. trade role. trade name.

Answers

Answer: Trade obstacle

Explanation:

From the information given, we can infer that the demands are examples of trade obstacle.

Trade obstacles refers to the barriers which hinder a trade or the restrictions on an international trade. Trade obstacles can be tariffs or other non-tariff methods. Trade obstacles lead to difficulties in the sale of a product to other countries.

The demand are example of Trade obstacle

What is a Trade obstacle?

It means the barriers that should be hindered with respect to the trade or the restrictions that should be on international trade. It could be tariffs or it can be non-tariff methods. It result in difficulties for selling the product to the other countries.

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In its first month of operations, Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 370 units at $6, (2) 470 units at $8, and (3) 570 units at $9. Assuming there are 270 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Wildhorse Co. uses a periodic inventory system. FIFO LIFO The Ending Inventory $Enter a dollar amount $Enter a dollar amount

Answers

Answer:

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

Explanation:

First determine the units sold

Units Sold = Total Purchases - Units in hand

                  = 1,410 units - 270 units

                  = 1,140

Note ; Wildhorse Co. uses a periodic inventory system. This means we calculate the cost at the end of the period.

FIFO

Means First in First Out

Cost of the ending inventory = 270 x $9.00 = $2,430

LIFO

Means Last in First Out

Cost of the ending inventory = 270 x $6.00 = $1,620

Conclusion

The cost of the ending inventory under FIFO is $2,430 and under LIFO is  $1,620

The Central Publishing Company is about to publish its first reference book in managerial economics. It is now in the process of estimating costs. It expects to produce 10,000 copies during its first year. The following costs have been estimated to correspond to the expected copies.
a. Paper Stock $8.000
b. Typesetting $15,000
c. Printing $50,000
d. Art (including graphs) $9.000
e. Editing $20,000
f. Reviews $3,000
g. Promotion and advertising $12,000
h. Binding $22.000
i. Shipping $10,000
In addition to the preceding costs, it expects to pay the authors a 13 percent royalty and its salespeople a 3 percent commission. These percentages will be based on the publisher’s price of $48 per book. Some of the preceding costs are fixed and others are variable. The average variable costs are expected to be constant. Although 10,000 copies is the projected volume, the book could sell anywhere between 0 and 20,000 copies.
Using the preceding data,
1. Write equations for total cost, average total cost, average variable cost, and marginal cost.
2. Draw the cost curves for quantities from 0 to 20,000 (in intervals of 2,000).

Answers

Answer:

Total Cost is the cost that is fixed and does not vary directly with the level of output. According to this question typesetting, printing, editing, reviews, promotion, and advertising are fixed costs. The total fixed cost here is $100000.

Total Variable Cost is the costs that vary directly with the level of output. Variable costs are incurred on variable factors. The Total Variable Cost here is $49000.

Marginal cost is addition to the total cost when one more unit of output is produced.

EQUATIONS

TC = 100000 + 4.9Q

ATC = 100000 + 4.9Q / Q

AVQ = 4.9Q / Q

MC = Change in Total Cost / Change in Quantity = 4.9

GRAPH

Is attached as picture.

Conclusion: The AVC and MC both are equal to 4.9.

Which of the following statements describes the cost of capital?
A. The interest rate the bank charges its best customers.
B. The internal rate of return on investments.
C. The maximum acceptable rate of return on investments.
D. The minimum rate of return on investments.

Answers

Answer: The minimum rate of return on investments.

Explanation:

The cost of capital simply refers to the particular rate of return that a certain company expects to get from a certain investment that it does.

The cost of capital is the minimum rate of return which must be earned by a certain business before the generation of value.

The cost of capital therefore is the minimum rate of return on investments. It is the return which a company is expected to pay both the creditors and also the investors.

Among the ethical and social challenges facing operations managers are a. honoring community commitments b. maintaining a clean environment c. developing safe quality products d. providing a safe workplace e. all of the above

Answers

Answer:

e. all of the above

Explanation:

There are several ethical and social challenges that managers need to face today. As organizations are perceived as institutions that promote economic and social well-being and there is a greater demand for measures to protect the environment and society, organizations need to adapt their processes and make the work environment increasingly better, using management practices that promote continuous improvement and reduce productive impacts on the environment. There is a need for security in products, processes, the workplace, transparency in government actions and support for the local community. So it is correct to say that all the alternatives are correct.

In 2020, Henry Jones works as a freelance driver, finding customers using various platforms like Uber and Grubhub. He is single and has no other sources of income. In 2020, Henry's qualified business income from driving is $61,200. Assume Henry takes the standard deduction of $12,400. Click here to access the 2020 individual tax rate schedule to use for this problem. Assume the QBI amount is net of the self-employment tax deduction. Compute Henry's QBI deduction and his tax liability for 2020.

Answers

Answer:

Henry's QBI deduction = $9,760

Henry's taxable income = $39,040

Henry's tax liability = $4,487.30

Explanation:

QBI deduction = (AGI - standard deduction) x 20% = ($61,200 - $12,400) x 20% = $9,760

total taxable income = $61,200 - $12,400 - $9,760 = $39,040

tax liability = $987.50 + [12% x ($39,040 - $9,875)] = $987.50 + $3,449.80 = $4,487.30

Clearsound uses Alpha Electronics and La Paz Company to buy two electronic components used in the manufacture of its cell phones: Component 125X and Component 30Y. Consider two activities: testing components and reordering components. After the two components are inserted, testing is done to ensure that the two components in the phones are working properly. Reordering occurs because one or both of the components have failed the test and it is necessary to replenish component inventories. Activity cost information and other data needed for supplier costing are as follows:
I. Activity Costs Caused by Suppliers (testing failures and reordering as a result)
Activity Costs
Testing components $1,200,000
Reordering components 300,000
II. Supplier Data
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit purchase price $10 $26 $12 $28
Units purchased 120,000 84,400 15,000 15,000
Failed tests 1,500 780 10 10
Number of reorders 60 40 0 0
Required:
Determine the cost of each supplier by using ABC. Round Test and Reorder rates to the nearest dollar, and final answers to the nearest cent.
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit cost: $ $ $ $

Answers

Answer:

Clearsound

The cost of each supplier, using ABC:

                                  Alpha Electronics           La Paz Companyl

                                  125X              30Y           125X             30Y

Unit cost                   $18.02         $32.24       $12.35      $28.35

Explanation:

a) Data and Calculations:

Activity Costs

Testing components     $1,200,000

Reordering components $300,000

Total costs =                  $1,500,000

II. Supplier Data

                                  Alpha Electronics           La Paz Company    Total

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Failed tests               1,500            780            10            10        2,300

Number of reorders     60              40             0             0            100

Activity Rates:

Failed tests $1,200,000/2,300 = $521.74

Reordering $300,000/100 = $3,000

                                  Alpha Electronics           La Paz Companyl

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Testing components   782,610      406,957         5,217           5,217

Reordering                  180,000      120,000

Total costs              $2,162,610 $2,721,357    $185,217   $425,217

Unit cost                     $18.02         $32.24       $12.35      $28.35

what happens if a business doesn't meet target profit

Answers

Answer:

If revenues are less than total cost, a company does not reach the break even point, which results in a less. A company that fails to make enough sales to meet the break even point accumulates debt over time, which can eventually cause a company to go out of business .

Explanation:

I hope it is the right answer you were looking for.

Which of the following increases the equilibrium price of a used car and decreases the equilibrium quantity? an announcement by the U.S. Attorney General that the windows on older cars were made with cheaper glass that can explode at high speeds new federal legislation that raises the legal driving age to twenty-four in all states a new fee that used car dealers must pay to the government on all sales of used cars all of the above because each is consistent with the "law of demand"

Answers

I don’t know just for the points sorry

A market-clearing price, often referred to as an equilibrium price, is the consumer cost associated with a good or service when supply and demand are equal or nearly equal. Hence quantity will increase .

What is Equilibrium price and quantity ?

The manufacturer or vendor is free to transfer as many units as they like, and the consumer is free to access as many units as they like.

Economic equilibrium in economics refers to a scenario where supply and demand are balanced and the values of economic variables do not change in the absence of external factors.

The only price at which consumer and producer preferences coincide is the equilibrium price; in other words, the price at which consumers want to purchase the same quantity of the good (quantity demanded) as producers do.Manufacturers want to sell (quantity supplied).

The equilibrium quantity is that amount that both parties seek equally. Any other price causes the market to be out of equilibrium since the amount requested does not match the quantity supplied. From the previous explanations of surpluses and shortages, it should be obvious that if a market is out of equilibrium, market forces will drive it into equilibrium.

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# SPJ 2

Name one thing you're afraid of when you think of college and career.

Answers

Answer:

finances

Explanation:

College is expensive and people that go to college have an expectation of landing a great paying job.  Reality is that is not always the case.  Often leading to a long time of paying of student debts.

The real payoff of driving forces is to help managers understand: A. the extent to which rivals have more than two competitively valuable competencies or capabilities. B. what strategy changes are needed to prepare for the impacts of those driving forces. C. the overall strength of the five competitive forces model versus a strategic group map. D. whether the industry's strategic group map will be static or dynamic. E. what conditions exist in the economy at large.

Answers

Answer:

B. what strategy changes are needed to prepare for the impacts of those driving forces.

Explanation:

Driving force analysis is defined as the process by which managers and businesses identify and account for changes that occurs in the industry.

They influence the structure of the industry and also the competitive behaviour of rival companies.

So driving force analysis will help the manager formulate strategies that will mitigate the effects of these driving forces on the company's performance.

Exercise 6-31 (Algorithmic) (LO. 3) Stanford owns and operates two dry cleaning businesses. He travels to Boston to discuss acquiring a restaurant. Later in the month, he travels to New York to discuss acquiring a bakery. Stanford does not acquire the restaurant but does purchase the bakery on November 1, 2020. Stanford incurred the following expenses: Total investigation costs related to the restaurant $35,750 Total investigation costs related to the bakery 53,700 If required, round any division to two decimal places and use in subsequent computation. Round your final answer to the nearest dollar. What is the maximum amount Stanford can deduct in 2020 for investigation expenses

Answers

,Answer:

See below

Explanation:

With regards to the above, since the restaurant was not acquired, the cost that is related to acquisition of restaurant will be ignored. It means that the $35,750 will not qualify for deduction.

Also, the expenses for considering the bakery $53,700 will not be allowed all at once.

Now, for any amount exceeding $50,000 there will be a reduction of $5,000

Reduced = $53,700 - $50,000 = $3,700

Then,

$5,000 - $3,700 = $1,300 deductions

Now,

$53,700 - $1,300 = $52,400 which is the deduction allowed in 180 months

Deduction per month = $52,400 / 180 = $291.11. Per month

Deduction for 2 months will be = 2 × $291.11 = $582.22

Therefore, eligible deduction = $582.22 + $1,300 = $1,882.22

The staff training center at a large regional hospital provides training sessions in CPR to all employees. Assume that the capacity of this training system was designed to be 1200 employees per year. Since the training center was first put into use, the program has become more complex, so that 950 now represents the most employees that can be trained per year. In the past year, 850 employees were trained. The efficiency of this system is approximately ________________ and its utilization is approximately _____________________.

Answers

Answer:

Efficiency of the system = Actual output/ Effective capacity*100

Efficiency of the system = 850/950*100

Efficiency of the system = 0.894737*100

Efficiency of the system = 89.47%

Utilization of the system = Actual output/Design capacity*100

Utilization of the system = 850/1200*100

Utilization of the system = 0.708333*100

Utilization of the system = 70.83%

Pacheco Inc. issued convertible bonds 10 years ago. Each bond had an initial term of 30 years, had a face value of $1,000, paid a coupon rate of 11%, and was convertible into 20 shares of Pacheco stock, which was selling for $30 per share at the time. Since then the price of Pacheco shares has risen to $65 and the interest rate has dropped to 8%. What is the least that each of the bonds is worth today

Answers

Answer:

$1,296.90

Explanation:

Calculation for What is the least that each of the bonds is worth today

First step is to calculate the stock each bond worth

Stock each bond worth=20 shares ×$65

Stock each bond worth= $1,300

Second step is to calculate what the bond is each worth using this formula

PV= PMT[PVFAk,n] + FV[PVFk,n]

Let plug in the formula

PV= $55[PVFA4,40] + $1,000[PVF4,40]

PV= $55(19.7928) + $1,000(.2083)

PV= $1,088.60 + $208.30

PV= $1,296.90

Therefore Based on the above calculation the least that each of the bonds is worth today is $1,296.90

Which critical factor must Mac, an entrepreneur, consider to select his suppliers?
A.
the assurance that the supplier will provide 100 percent original material
B.
the assurance that the supplier will always provide a flat discount rate regardless of the market condition
C.
the assurance that the supplier will be able to meet urgent and immediate demands at all times
D.
the assurance that Mac will earn customer loyalty by producing goods sold by the supplier
E.
the assurance that Mac’s business will expand every financial year

Answers

Answer:

c

Explanation:

Which employee in the Business, Management, and Administration career cluster would most likely work in a cubicle?

Receptionist
Mail Clerk
Sales Representative
Accountant

Answers

An accountant would most likely work in a cubicle

c sales representative

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May:
1 Rainier Company Yakima Company
2 Materials inventory, May 1 $100,000.00 $48,200.00
3 Materials inventory, May 31 (a) 50,000.00
4 Materials purchased 950,000.00 710,000.00
5 Cost of direct materials used in production 938,500.00 (a)
6 Direct labor 2,860,000.00 (b)
7 Factory overhead 1,800,000.00 446,000.00
8 Total manufacturing costs incurred May (b) 2,484,200.00
9 Total manufacturing costs 5,998,500.00 2,660,600.00
10 Work in process inventory, May 1 400,000.00 176,400.00
11 Work in process inventory, May 31 382,000.00 (c)
12 Cost of goods manufactured (c) 2,491,500.00
13 Finished goods inventory, May 1 615,000.00 190,000.00
14 Finished goods inventory, May 31 596,500.00 (d)
15 Sales 9,220,000.00 4,550,000.00
16 Cost of goods sold (d) 2,470,000.00
17 Gross profit (e) (e)
18 Operating expenses 1,000,000.00 (f)
19 Net income (f) 1,500,000.00
Required:
a. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.
b. Prepare Yakima Company’s statement of cost of goods manufactured for May. For those boxes in which you must enter subtracted or negative numbers use a minus sign.*
c. Prepare Yakima Company’s income statement for May. Enter all amounts as positive numbers.*
* Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Starting Question
a. Determine the amounts of the missing items, identifying them by letter. Enter all amounts as positive numbers.
Letter Rainier Company Yakima Company
a.
b.
c.
d.
e.
f.
Statement of Cost of Goods Manufactured
b. Prepare Yakima Company’s statement of cost of goods manufactured for May. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Yakima Company
Statement of Cost of Goods Manufactured
For the Month Ended May 31
1
2
Direct materials:
3
4
5
6
7
8
9
10
11
Total manufacturing costs
12
13
c. Prepare Yakima Company’s income statement for May. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers.
Yakima Company
Income Statement
For the Month Ended May 31
1
2
Cost of goods sold:
3
4
5
6
7
8
9
10

Answers

Answer:

(a) $190,000

(b) $2,185,000

(c) $3,125,900

(d) $841,090

(e) $561,260

(f) $1,200,000

Explanation:

Rainier and Yakima Company several balances are omitted. These are calculated with reverse calculation. The material inventory at beginning of may is added with the purchases made and then ending inventory is subtracted to identify cost of goods manufactured.

A corporation is concerned about their exposure to criminal liability after the most recent election cycle placed a number of new legislators in Congress who campaigned against corporate corruption. Select the strategy that would be least effective in reducing the company's criminal liability.
A. It could prioritize ethical leadership when making hiring decisions for management-level positions.
B. It could encourage reporting by establishing internal protections for whistleblowers beyond what is provided by Congressional law.
C. It could strengthen its code of ethics to reflect the current political mood.
D. It could donate to the election campaigns of the new members of Congress to establish goodwill.

Answers

Answer:

The strategy that would be least effective in reducing the company's criminal liability is:

D. It could donate to the election campaigns of the new members of Congress to establish goodwill.

Explanation:

While the other three options will effectively reduce the company's criminal liability exposure, option D is the least that is likely to have a positive or effective effect.  This implies that option D is most likely to aggravate the criminal liability of the company as it will be regarded as bribery to cover up a crime.

The ledger of Blue Spruce Company contains the following balances: Retained Earnings $30,500, Dividends $2,500, Service Revenue $50,500, Salaries and Wages Expense $26,500, and Supplies Expense $7,000. The closing entries are as follows:
(1) Close revenue accounts.
(2) Close expense accounts.
(3) Close net income/(loss).
(4) Close dividends.
Enter the balances in T-accounts, and post the closing entries.
Salaries and Wages Expense select an option Bal. enter a debit amount 26500 select an option enter a credit balance
Supplies Expense select an option enter a debit amount select an option Bal. enter a credit balance 7000
Service Revenue select an option (1) enter a debit balance 50500 select an option Bal. enter a credit amount 50500
Dividends select an option (4) enter a debit amount 2500 select an option Bal. enter a credit balance 2500
Income Summary select an option enter a debit amount 26500 select an option enter a credit amount 50500
select an option enter a debit balance 7000
select an option enter a credit balance 2500
Retained Earnings select an option enter a debit amount
select an option enter a credit amount
select an option enter a debit amount
select an option enter a credit amount
select an option enter a debit balance
select an option enter a credit balance

Answers

Answer:

Blue Spruce Company

Closing Entries:

1. Close Revenue Accounts:

Debit Service Revenue $50,500

Credit Income Summary $50,500

To close the service revenue account to the income summary.

2. Close Expense Accounts:

Debit Income Summary $26,500

Credit Salaries and Wages Expense $26,500

To close the salaries and wages expense account to the income summary.

Debit Income Summary $7,000

Credit Supplies Expense $7,000

To close the supplies expense account to the income summary.

3. Close net Income/(Loss):

Debit Net Income $17,000

Credit Retained Earnings $17,000

To close the net income to retained earnings.

4. Close Dividends:

Debit Retained Earnings $2,500

Credit Dividends $2,500

To close the dividends account to retained earnings.

Explanation:

a) Data and Calculations:

Retained Earnings $30,500

Dividends $2,500

Service Revenue $50,500

Salaries and Wages Expense $26,500

Supplies Expense $7,000

Mini-Income Statement:

Service Revenue                                     $50,500

Salaries and Wages Expense $26,500

Supplies Expense                      $7,000   33,500

Net income for the year                          $17,000

b) The above entries close the temporary accounts to the income summary where the net income is determined for the year.  The net income and dividends are thereafter closed to the retained earnings, which is a permanent account that will appear in the balance sheet and the next accounting period.

A for-profit institution that works with the general public to open and manage
savings accounts is known as a(n).
A. commercial bank
B. savings bank
C. credit union
D. investment bank

Answers

Answer:

B. savings bank

Explanation:

Savings bank is defined as a bank which helps customers or people to invest or deposit in interest giving accounts that will give a long term investment.

Savings bank were started in Europe in the 19th century. Saving banks gives interest on the deposit amount that is why its is a for-profit institution for general public. The interest saving banks give by investing in government and corporate debt.

Hence, the correct answer is "B. savings bank".

The comparative statements of Carla Vista Co. are presented here.
CARLA VISTA CO.
Income Statements
For the Years Ended December 31
2017 2016
Net sales $1,897,540 $1,757,500
Cost of goods sold 1,065,540 1,013,000
Gross profit 832,000 744,500
Selling and administrative expenses 507,000 486,000
Income from operations 325,000 258,500
Other expenses and losses
Interest expense 24,000 22,000
Income before income taxes 301,000 236,500
Income tax expense 94,000 75,000
Net income $ 207,000 $ 161,500
CARLA VISTA CO.
Balance Sheets
December 31
Assets 2017 2016
Current assets
Cash $ 60,100 $ 64,200
Debt investments (short-term) 74,000 50,000
Accounts receivable 124,800 109,800
Inventory 128,000 117,500
Total current assets 386,900 341,500
Plant assets (net) 659,000 530,300
Total assets $1,045,900 $871,800
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $ 167,000 $152,400
Income taxes payable 45,500 44,000
Total current liabilities 212,500 196,400
Bonds payable 230,000 210,000
Total liabilities 442,500 406,400
Stockholders’ equity
Common stock ($5 par) 290,000 300,000
Retained earnings 313,400 165,400
Total stockholders’ equity 603,400 465,400
Total liabilities and stockholders’ equity $1,045,900 $871,800
All sales were on account. Net cash provided by operating activities for 2017 was $251,000. Capital expenditures were $135,000, and cash dividends were $59,000.
Compute the following ratios for 2017. (Round all answers to 2 decimal places, e.g. 1.83 or 1.83%.)
(a) Earnings per share $
(b) Return on common stockholders’ equity
(c) Return on assets
(d) Current ratio
(e) Accounts receivable turnover
(f) Average collection period
(g) Inventory turnover
(h) Days in inventory
(i) Times interest earned
(j) Asset turnover
(k) Debt to assets ratio
(l) Free cash flow

Answers

Answer:

Carla Vista Co.

(a) Earnings per share = $3.57

(b) Return on common stockholders’ equity = 34.31%

(c) Return on assets = 19.79%

(d) Current ratio = 1.82

(e) Accounts receivable turnover = Net Sales/Average Receivable = 16.18 times

(f) Average collection period = 365 Days /Average Receivable Turnover ratio = 22.56 days

(g) Inventory turnover = Cost of goods sold/Average Inventory = 8.68 times

(h) Days in inventory = 42.05 days

(i) Times interest earned = 3.46 times

(j) Asset turnover = 1.81

(k) Debt to assets ratio = Total Debt/Total Assets = 42.31%

(l) Free cash flow = Cash from Operations - Capital Expenditures = $116,000

Explanation:

a) Data and Calculations:

CARLA VISTA CO.

Income Statements

For the Years Ended December 31

                                                               2017          2016

Net sales                                          $1,897,540   $1,757,500

Cost of goods sold                            1,065,540     1,013,000

Gross profit                                          832,000       744,500

Selling and administrative expenses 507,000       486,000

Income from operations                     325,000      258,500

Other expenses and losses:

Interest expense                                   24,000        22,000

Income before income taxes              301,000      236,500

Income tax expense                             94,000        75,000

Net income                                      $ 207,000    $ 161,500

CARLA VISTA CO.

Balance Sheets

December 31

Assets                                                            2017           2016

Current assets

Cash                                                           $ 60,100     $ 64,200

Debt investments (short-term)                    74,000        50,000

Accounts receivable                                   124,800      109,800

Inventory                                                     128,000       117,500

Total current assets                                  386,900      341,500

Plant assets (net)                                      659,000     530,300

Total assets                                          $1,045,900    $871,800

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable                                 $ 167,000     $152,400

Income taxes payable                               45,500        44,000

Total current liabilities                             212,500      196,400

Bonds payable                                        230,000      210,000

Total liabilities                                         442,500     406,400

Stockholders’ equity

Common stock ($5 par)                        290,000     300,000

Retained earnings                                  313,400      165,400

Total stockholders’ equity                    603,400     465,400

Total liabilities and

  stockholders’ equity                     $1,045,900    $871,800

Net cash provided by operating activities for 2017 = $251,000

Capital expenditures = $135,000,

2017 Ratios:

(a) Earnings per share = $207,000 ($ /58,000 shares) = $3.57

(b) Return on common stockholders’ equity = $207,000/$603,400 * 100 = 34.31%

(c) Return on assets = $207,000/$1,045,900 * 100 = 19.79%

(d) Current ratio = $386,900/212,500 = 1.82

Average Receivable = ($124,800 + 109,800)/2 = $117,300

(e) Accounts receivable turnover = Net Sales/Average Receivable

= $1,897,540/$117,300 = 16.18 times

(f) Average collection period = 365 Days /Average Receivable Turnover ratio. = 365/16.18 = 22.56 days

Average Inventory = ($128,000 + 117,500)/2 = $122,750

(g) Inventory turnover = Cost of goods sold/Average Inventory = $1,065,540/122,750 = 8.68 times

(h) Days in inventory = 365/8.68 = 42.05 days

(i) Times interest earned = Earnings before interest & taxes / Tax expense = $325,000/$94,000 = 3.46 times

(j) Asset turnover = Net Sales/Assets = $1,897,540/$1,045,900 = 1.81  

(k) Debt to assets ratio = Total Debt/Total Assets =  $442,500/$1,045,900 * 100 = 42.31%

(l) Free cash flow = Cash from Operations - Capital Expenditures = $251,000 - $135,000 = $116,000

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