Question Completion:
WILLIS TRANSPORT SERVICE
MANAGER'S REPORT
8PM THURSDAY
Assets Owners' Equity
Capital stock $110,400 Accounts Receivable $84,000
Retained earnings 74,400 Notes Payable 345,600
Cash 94,800 Supplies 16,800
Building 96,000 Land 84,000
Automobiles 198,000 Accounts Payable 43,200
Total $573,600 Total $573,600
Answer:
Willis Transportation Service
WILLIS TRANSPORTATION SERVICE
Balance Sheet
As of February 28, 2015
Assets
Current Assets:
Cash $94,800
Accounts Receivable 84,000
Supplies 16,800 $195,600
Automobiles 198,000
Building 96,000
Land 84,000 $378,000
Total assets $573,600
Liabilities and Equity:
Current Liabilities:
Accounts Payable $43,200
Long-term Liabilities:
Notes Payable $345,600
Total liabilities $388,800
Owners' Equity:
Common stock $110,400
Retained earnings 74,400 $184,800
Total liabilities and equity $573,600
Explanation:
a) Data and Analysis:
Assets:
Cash 94,800
Accounts Receivable 84,000
Supplies 16,800
Automobiles 198,000
Building 96,000
Land 84,000
Liabilities and Owners' Equity:
Accounts Payable 43,200
Notes Payable 345,600
Common stock 110,400
Retained earnings 74,400
b) Willis' balance sheet shows the company's assets and the sources through which the assets are financed. These sources are either liabilities (debts) or owners' equity (common stock or retained earnings). The balance sheet summarizes the financial position of Willis Transportation Service at a point in time.
Chiptech, Inc., is an established computer chip firm with several profitable existing products as well as some promising new products in development. The company earned $2.1 a share last year, and just paid out a dividend of $0.84 per share. Investors believe the company plans to maintain its dividend payout ratio at 40%. ROE equals 23%. Everyone in the market expects this situation to persist indefinitely.
a. What is the market price of Chiptech stock? The required return for the computer chip industry is 16%, and the company has just gone ex-dividend (i.e., the next dividend will be paid a year from now, at t = 1). (Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Market price of Chiptech stock $
b. Suppose you discover that Chiptech
Answer and Explanation:
The computation is shown below:
a) Growth rate = ROE × retention ratio
= 23% × (1 - .40)
= 13.80%
Value of stock = D1 ÷ (k - g)
= 0.84 × (1 + .1380) ÷ (.16 - .1380)
= $43.45
b) Revised growth rate after year 2 = 16% × .50
= 8%
Value at T2 = D3 ÷ (k - g)
D3 = Earnings × (1 + G1)^2 × (1 + G2) × Payout ratio
= 2.1 × (1+.1380)^2 × (1+.08) × .50
= 1.47
Value at T2 = 1.47 ÷ (.16 - .08)
= $18.38
Value at T0 = Value at T2 ÷ (1 + r)^n
= 18.38 ÷ (1 + .16)^2
= 13.66
Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Materials $4,300, Work in ProcessâCutting $3,000, Work in ProcessâAssembly $10,700, and Finished Goods $32,000. During July, the following transactions occurred.
1. Purchased $62,600 of raw materials on account.
2. Incurred $60,100 of factory labor. (Credit Wages Payable.)
3. Incurred $71,000 of manufacturing overhead; $41,000 was paid and the remainder is unpaid.
4. Requisitioned materials for Cutting $15,800 and Assembly $9,000.
5. Used factory labor for Cutting $33,100 and Assembly $27,000.
6. Applied overhead at the rate of $19 per machine hour. Machine hours were Cutting 1,690 and Assembly 1,750.
7. Transferred goods costing $67,700 from the Cutting Department to the Assembly Department.
8. Transferred goods costing $135,000 from Assembly to Finished Goods.
9. Sold goods costing $151,000 for $201,000 on account.
Required:
Journalize the transactions.
Answer:
Item 1
Debit : Raw Materials $62,600
Credit : Accounts Payable $62,600
Item 2
Debit : Wages expense $60,100
Credit : Wages Payable $60,100
Item 3
Debit : Overhead expenses $71,000
Credit : Cash $41,000
Credit : Accounts Payable $30,000
Item 4
Debit : Work in Process - Cutting $15,800
Debit : Work in Process - Cutting $9,000
Credit : Raw Materials $24,800
Item 5
Debit : Work In Process - Cutting $33,100
Debit : Work In Process - Assembly $27,000
Credit : Wages Expense $60,100
Item 6
Debit : Work in Process - Cutting $32,110
Debit : Work in Process - Assembly $33,250
Credit : Overheads $65,360
Item 7
Debit : Work in Process - Assembly Department $67,700
Credit : Work in Process - Cutting Department $67,700
Item 8
Debit : Finished Goods Inventory $135,000
Credit : Work in Process - Assembly Department $135,000
Item 9
Debit : Accounts Receivable $201,000
Debit : Cost of Sales $151,000
Credit : Sales Revenue $201,000
Credit : Finished Goods Inventory $151,000
Explanation:
When Costs are Incurred :
Debit the Account to which cost is accumulating and Credit cash when the cash is paid or Accounts Payable when there is no immediate payment.
When items are used in Production :
Debit the Work in Process Account to which the cost relates to and Credit the Account attached to that cost.
When there is a transfer :
Debit the Work in Process Account to which the items are flowing to and Credit the Work in Process Account from which the items are flowing.
Braun Company has one service department and two operating (production) departments. Maintenance Department costs are allocated to the two operating departments based on square feet occupied. Listed below are the operating data for the current period: Department Direct Expenses Square Feet Maintenance $ 25,500 Milling 76,500 10,000 Assembly 105,400 15,000 The total cost of operating the Assembly Department for the current period is: rev: 12_17_2020_QC_CS-243789 Multiple Choice $91,800. $115,600. $105,400. $120,700. $130,900.
Answer:
$120,700
Explanation:
Calculation to determine what The total cost of operating the Assembly Department for the current period is
First step is to Allocate Maintenance costs to Assembly department
Assembly=$25,500 × (15,000/25 000) >= $15,300
Now let calculate the Total Assembly costs
Total Assembly costs= $105,400 + 15,300
Total Assembly costs= $120,700
Therefore The total cost of operating the Assembly Department for the current period is $120,700
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
Cash and cash equivalents
Accounts receivable (net) 5,700
Inventory l 27,000
Property, plant, and equipment (net) 67,000
Accounts pay able 46,000
Salaries payable 18,000
Paid-in capitapoints 135,000
The only asset not listed is short-term investments. The only liabilities not listed are $37000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.6:1
Required: Determine the following at December 31, 2021:
1. Total current assets
2. Short-term investments
3. Retained earnings
Answer:
1. Total current assets = $104,000
2. Short term investments = $4,300
3. Retained earnings = $27,000
Explanation:
Note: The data given in the question are not complete and merged together. The complete sorted data are now given as follows:
Details Amount ($)
Cash and cash equivalents 5,700
Accounts receivable (net) 27,000
Inventory 67,000
Property, plant, and equipment (net) 160,000
Accounts pay able 46,000
Salaries payable 18,000
Paid-in capital 135,000
The explanation of the answer is now given as follows:
1. Total current assets
Current liabilities = Accounts playable + Salaries payable + Accrued interest = $46,000 + $18,000 + $1,000 = $65,000
Current ratio = 1.6:1
Current ratio = Current assets / Current liabilities .............. (1)
Substituting the relevant values into equation (1) ans solve for Current assets, we have:
1.6 = Current assets / $65,000
Current assets = 1.6 * $65,000 = $104,000
Therefore, wee have:
Total current assets = $104,000
2. Short-term investments
Current assets = Cash and cash equivalents + Accounts receivables + Inventory + Short term investments ............... (2)
Substituting the relevant values into equation (2) ans solve for Short-term investments, we have:
$104,000 = $5,700 + $27,000 + $67,000 + Short term investments
$104,000 = $99,700 + Short term investments
Short term investments = $104,000 - $99,700 = $4,300
3. Retained earnings
Long term liabilities = Notes payable due in two years = $37,000
Fixed assets = Property, plant, and equipment (net) = $160,000
Current assets + Fixed assets = Current liabilities + Long term liabilities + Paid in capital + Retained earnings ................. (3)
Substituting the relevant values into equation (3) ans solve for Retained earnings, we have:
$104,000 + $160,000 = $65,000 + $37,000 + $135,000 + Retained earnings
$264,000 = $237,000 + Retained earnings
Retained earnings = $264,000 - $237,000 = $27,000
Marc is 32 and married to Estella, who is 30. Estella is a stay-at-home mom to their two children, ages 1 and 4. They currently live on Marc's salary of $110,000 (after taxes) that just about meets their household expenses. They would like to make sure that if Marc dies, they replace his income for 17 years, which would match their mortgage maturity and their kids would be well off to college; fund the children's college education ($300,000); establish a retirement fund for Estella ($250,000) to supplement Marc's Social Security retirement benefits; cover funeral costs ($10,000); and establish a 3-month emergency fund. If Estella dies, they want to have enough insurance to be able to pay for child care ($36,000 per year) and housekeeping services ($12,000 per year) for 17 years, to establish an emergency fund, and for funeral costs. They have the following financials:
Marc's employer provides a year's salary life insurance. Family is eligible for Social Security survivor benefits of $55,000 if Marc dies. Household expenses would be 20% lower if either parent dies. Current savings and investments of $23,000.
Using the financial needs approach, how much life insurance would you recommend?
A. $905,500 on Marc; $778,500 on Estella
B. $1,015,500 on Marc; $756,500 on Estella
C. $487,500 on Marc; $340,500 on Estella
D. $1,063,500 on Marc; $708,500 on Estella
Answer:
B. $1,015,500 on Marc ; $756,500 for Estella
Explanation:
Marc has current salary of $110,000 with which he runs the household expenses. If Marc dies then there should be more insurance coverage because he is the only person who earns in the house. Estella is a house wife and insurance coverage for her is lower than Marc because he will still be able to continue his earning.
In the audit of notes payable, an auditor testing the ASB balance assertion of accuracy and valuation most likely would: ________
a. read directors' and finance committee's minutes for authorization of financing transactions.
b. select a sample of paid notes and trace interest expense to the general ledger account.
c. select a sample of paid notes and recalculate interest expense for the period under audit.
d. select a sample of notes payable and vouch cash receipt to the bank statement.
Answer:
I think it's c
Explanation:
Superstition Industries has a $2,000,000 asset investment and is subject to a 30% income tax rate. Cash inflows from the project are expected to average $400,000 before tax over the next few years; in contrast, average income before tax is anticipated to be $350,000. The company's after-tax accounting rate of return on this investment is:
Answer:
12.25%
Explanation:
Calculation to determine what The company's after-tax accounting rate of return on this investment is:
Using this formula
After-tax accounting rate of return =Avarage income/Average investment
Let plug in the formula
After-tax accounting rate of return=($350,000*70%)/$2,000,000
(100%-30%=70%)
After-tax accounting rate of return=$245,000/$2,000,000
After-tax accounting rate of return=0.1225*100
After-tax accounting rate of return=12.25%
Therefore The company's after-tax accounting rate of return on this investment is:12.25%
3.1 Define the following concepts:
e-Business
Nepotism
Cronyism
Embezzlement
Bribery
An e-Business refers to an internet-based marketplaces that facilitate buying and selling of goods between merchants and customers.
What is Nepotism?Nepotism refers to an act of granting of favour to one's relatives.
What is Cronyism?Cronyism refers to an act of showing favoritism to one's friends when appointing for new positions
What is Embezzlement?Embezzlement refers to a misappropriation of public funds by an employee, official etc
What is Bribery?Bribery refers to an act of offering something of value to another person in order to receive something in exchange
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Q 12.3: The Unitas, Sayers, and Blanda partnership is terminated when the claims of company creditors exceed partnership assets by $50,000. The capital balances for Unitas, Sayers, and Blanda are $35,000, $5,000, and $0, respectively. The original claims of the creditors were negotiated by Sayers and Blanda. Identify the partner(s) personally and individually liable for all partnership liabilities.
Answer:
The Sayers and Blanda are personally and individually liable for all partnership liabilities.
Explanation:
From the scenario, Sayers and Blanda are the general partners, while Unitas appears to be a limited partner. Thus, only the general partners, who are always active in the business, are responsible for the partnership liabilities because the liability of Unitas is limited to the capital he contributed to the partnership. First, Blanda will make good his deficiency in capital, and then, he and Sayers will redeem the remaining liability.
Some insurance companies begin paying claims only after the policyholder has paid a certain amount of money called a...
1) Premium
2) Term
3) Deductible
Suppose firms become very optimistic about future business conditions and invest heavily in new capital equipment.
Show the short-run effect of this optimism on the aggregate-demand curve.
Aggregate DemandAggregate SupplyLRASPrice LevelQuantity of OutputAggregate Demand Aggregate Supply LRAS
Which of the following reasons could explain why the aggregate quantity of output supplied changes?
A. Wages are not sticky.
B. The price level has risen.
C. Prices are sticky.
D. People have misperceptions about the price level.
Answer:
Aggregate Supply Curve = Shifts leftward.
Aggregate Demand Curve = Shifts Rightward.
In the short run, companies will become more optimistic and when they invest in new equipment, Aggregate supply curve shifts left because of the input prices of the new equipment.
Aggregate demand curve will shift right because of people will be optimistic about future business opportunities as well.
Reasons why aggregate quantity of output supplied changes.
B. The price level has risen.
C. Prices are sticky.
D. People have misperceptions about the price level.
The price level will rise in the short run due to the investment in more equipment and as prices are sticky, people will have misconceptions about the price level thinking that it will remain high which is why supply changes.
Find the standard deviation of this sample: 4, 7, 9, 12, 15
The standard deviation is a measure of spread which depicts how much a distribution deviates from the mean or average value of the distribution. The standard deviation of the sample is 4.28
The sample :
4, 7, 9, 12, 15Mean, μ = ΣX/ n ; n = sample size
Mean = (4 + 7 + 9 + 12 + 15) / 5
Mean = 47/5
Mean = 9.4
The standard deviation = √[Σ(X - μ)² / (n - 1)]
Standard deviation = √[(4-9.4)² + (7-9.4)² + (9-9.4)² + (12-9.4)² + (15-9.4)²] / (5 - 1)
Standard deviation = √(73.2 / 4) = √18.3
The standard deviation = 4.28
Therefore, the standard deviation of the sample is 4.28
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Wellington Corp. has outstanding accounts receivable totaling $6.5 million as of December 31 and sales on credit during the year of $24 million. There is also a credit balance of $12,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year
Answer:
$508,000
Explanation:
Calculation to determine what will be the amount of bad debt expense recognized for the year
Using this formula
Bad debt expense=(Outstanding accounts receivable*Uncollectible outstanding receivables percentage)-Credit balance)
Let plug in the formula
Bad debt expense=($6.5million*8%)-$12,000
Bad debt expense=$520,000-$12,000
Bad debt expense=$508,000
Therefore what will be the amount of bad debt expense recognized for the year is $508,000
+
What is one way you can meet students with common interests in an online school?
O A dedicated learning space.
O National clubs
O The OLS
O Class Connects
Answer: National Clubs
Explanation:
There are national clubs where students with common interests can meet via an online school such as the K12 online national clubs. Enrolling for the club is not a difficult process and the schedule can then be accessed from the Class Connect schedule.
These clubs offer a diverse range of interests and subjects such as engineering, sketching and others and they are led by teachers from a school which is K-12 registered and powered.
Godfrey Corporation holds, as a long-term investment available-for-sale securities costing $69,000. At December 31, 2017, the fair value of the securities is $64,100. Show the financial statement presentation of the available-for-sale securities and related accounts. Assume the available-for-sale securities are noncurrent.
GOLDFREY CORPORATION
Balance Sheet Entry field with correct answer
December 31, 2017
Entry field with correct answer Investments
Entry field with correct answer Investment In Stock, at fair value
Entry field with correct answer 64100
Entry field with correct answer Stockholders' Equity
Entry field with correct answer Less :
Entry field with incorrect answer now contains modified data
Entry field with correct answer 4900
Answer:
Godfrey Corporation
GOLDFREY CORPORATION
Balance Sheet (Partial)
December 31, 2017
Noncurrent assets:
Investments:
Investment In Stock, at fair value $64,100
Stockholders' Equity:
Common stock
Retained earnings
Less :
Unrealized loss $4,900
Explanation:
a) Data and Calculations:
Long-term investment available for sale:
Cost = $69,000
Fair value 64,100
Unrealized loss $4,900
b) The correct entry would have been to reduce the net income by the unrealized loss. However, for simplicity, this is showed as a reduction of the Retained Earnings in the balance sheet.
Splish Brothers Inc. sold its accounts receivable of $70,300. What entry should Splish Brothers make, given a service charge of 4% on the amount of receivables sold?
Fly-By-Night Couriers is analyzing the possible acquisition of Flash-in-the-Pan Restaurants. Neither firm has debt. The forecasts of Fly-By-Night show that the purchase would increase its annual aftertax cash flow by $390,000 indefinitely. The current market value of Flash-in-the-Pan is $8 million. The current market value of Fly-By-Night is $29 million. The appropriate discount rate for the incremental cash flows is 8 percent. Fly-By-Night is trying to decide whether it would offer 30 percent of its stock or $12 million in cash to Flash-in-the-Pan. a. What is the synergy from the merger
Answer:
the synergy of the merger is $4,875,000
Explanation:
The computation of the synergy of the merger is shown below;
= Annual cash flow ÷ discount rate
= $390,000 ÷ 8%
= $4,875,000
By dividing the annual cash flow from the discount rate we can get the synergy of the merger
Hence, the synergy of the merger is $4,875,000
In the Ford Pinto Case Study, executives at Ford Motor Co. argued that “if the cost to repair the defect means a potential loss of profit, then we do not repair the defect.” In free market theory, this view makes use of
a.
Pareto efficiency.
b.
intrinsic value.
c.
tradeable property rights.
d.
cost-benefit analysis.
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The view of the executives at Ford Motor Co. uses cost-benefit analysis.
What is the cost-benefit analysis?The cost-benefit analysis refers to the process that is used to determine whether the decision or action is beneficial or not. The profit or beneficial effect of the decision is calculated by considering the cost that is associated with the action.
In the given case the executive consider the cost to repair the defect and observed its effect on the profit. They stated that if the cost to repair the defect causes of potential loss of profit to the company they will not choose to repair the same.
Therefore the correct option is D.
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Marley Company has the following information for March: Sales $912,000 Variable cost of goods sold 474,000 Fixed manufacturing costs 82,000 Variable selling and administrative expenses 238,100 Fixed selling and administrative expenses 54,700 Determine the following for Marley Company for the month of March: a. Manufacturing margin $fill in the blank 1 b. Contribution margin $fill in the blank 2 c. Operating income
Answer:
Results are below.
Explanation:
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Manufacturing contribution margin= 912,000 - 474,000
Manufacturing contribution margin= 438,000
Now, the total contribution margin:
Total contribution margin= manufacturing contribution margin - Variable selling and administrative expenses
Total contribution margin= 438,000 - 238,100
Total contribution margin= $199,900
Finally, the income statement:
Sales= 912,000
Total Variable cost= 474,000 + 238,100= (712,100)
Total contribution margin= 199,900
Fixed manufacturing costs= (82,000)
Fixed selling and administrative expenses= (54,700)
Net operating income= 63,200
In which of the following does the seller of a product or service have the LEAST amount of control over the price?
O A. Natural monopoly
O B. Privatization
OC. Oligopoly
OD. Perfect competition
O E. Monopolistic competition
Answer:
'd' perfect competition
Explanation:
since there is a high competition and has to go according to the market. if the competetor is selling the same product in lower price the seller should decrease there price also . to attract the buyers
In a market having perfect competition, the seller of a product or service has the least amount of control over the price of such product or service. Therefore, the option D holds true.
What is the significance of perfect competition?A market having perfect competition can be referred to or considered as a market where a large number of buyers and sellers come together to trade a similar product or service. There is free entry and exit in a perfectly competitive market.
Moreover, there is no scope for price control or manipulation by the seller in a perfect competition because the seller does not have the pricing power, mainly because there are a large number of sellers dealing in similar products, and thus, the price remains the same in the whole market.
Therefore, the option D holds true regarding the significance of perfect competition.
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Spencer Co. has a $420 petty cash fund. At the end of the first month the accumulated receipts represent $65 for delivery expenses, $215 for merchandise inventory, and $34 for miscellaneous expenses. The fund has a balance of $106. The journal entry to record the reimbursement of the account includes a: Multiple Choice Debit to Petty Cash for $420. Debit to Cash Over and Short for $106. Credit to Cash for $314. Credit to Inventory for $215. Credit to Cash Over and Short for $106.
Answer:
Credit to Cash for $314
Explanation:
The journal entry to record the reimbursement of the account is given below:
Delivery expenses A/c Dr. $65
Merchandise inventory A/c Dr. $215
Miscellaneous expenses A/c Dr. $34
To Cash A/c $314
(Being the reimbursement of the account is recorded)
Here the delivery expense, merchandise inventory and miscellaneous expense is debited as it increased the assets & expenses and credited the cash as it decreased the assets
Economical solar energy and energy from fusion have been identified as two of engineering's grand challenges. While work continues on these grand challenges, conservation of energy from non-renewable sources is vital. On a practical level, installing low thermal emissivity windows (low-e windows) on buildings can contribute to energy conservation. Installing low-e windows on a small office building is estimated to cost $9,000. The windows are expected to last 8 years and have no salvage value at that time. The energy savings from the windows are expected to be $2,775 in the 1st year. After the 1st year, the savings are expected to increase by $125 each year due to escalating fossil fuel costs. MARR is 12% per year and annual worth is the preferred measure of economic worth.
Are the low-e windows an economically attractive investment?
The annual worth of installing the low-e windows is $_________
Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is +1.
The low-e window investment _______attractive.
Answer:
Economical Solar and Fusion Energy
The annual worth of installing the low-e windows is $_1,327________
Carry all interim calculations to 5 decimal places and then round your final answer to a whole number. The tolerance is +1.
The low-e window investment ___is____attractive.
Explanation:
a) Data and Calculations:
Present values:
Year Annual PV Factor PV of
Savings Savings
Year 1 $2,775 0.893 $2,478.075
Year 2 $2,900 0.797 2,311.300
Year 3 $3,025 0.712 2,153.800
Year 4 $3,150 0.636 2,003.400
Year 5 $3,275 0.567 1,856.925
Year 6 $3,400 0.507 1,723.800
Year 7 $3,525 0.452 1,593.300
Year 8 $3,650 0.404 1,474.600
Total $25,700 4.968 $15,595
Annual Worth of the Present Value of savings = $15,595/4.968 = $3,139
Annual worth of the Present Value of investment costs = $9,000/4.968
= $1,812
Annual worth = $1,327 ($3,139 - $1,812)
What's the likely outcome of many people attempting to buy a small amount of goods?
A. recession
B. inflation
C. elasticity
D. deflation
Answer: B (inflation)
Explanation:
Q2. Management is equally important to run a political organisation as it is to run an
economic organisation. Which feature of management is being reflected in the given
statement?
(a) Management is goal oriented
(b) Management is multidimensional
(c) Management is all pervasive
(d) Management is a group activity
03.
'Objectives of an enterprise play a vital role'. These should be
(a) Expressed in measurable terms (b) Written statements
(c) Issued by top management
(d) All the above
In a marketing firm, the Financial Manager pays more attention towards an increase in
the marketing cost as compared to a 15% increase in the courier expenses.
Identify the concept being used by the manager.
(a) Management by exception
(b) Critical point control
(c) Corrective action
(d) None of the above
Answer:
Q2. B
Because a management is basically Base of separation of powers where all organs get work to do
Q3. A
Q4. B
18. When a court says that an agreement is illegal, it most likely means that the agreement: A. has not mentioned a time period for which the agreement is valid.B. does not identify the parties involved in the agreement.C. is related to buying and selling of trade secrets.D. violates public policy.
When a court says that an agreement is illegal, it most likely means that the agreement violates public policy. Thus the correct answer is D.
What is an agreement?When two individuals or parties are ready to provide consent on similar gaols to achieve the common objective with teh help of offer and acceptance indicates the occurrence of agreement.
The agreement violates public policy as it is illegal which harms the society or citizens of the country. The action breaks the law, and negatively affects the welfare of the people it is declared to be against public policy.
Therefore, option D violates public policy is the appropriate answer.
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When Teri's outside basis in the TMF Partnership is $80,000, the partnership distributes to her $30,000 cash, an account receivable (fair market value of $60,000, inside basis to the partnership of $0), and a parcel of land (fair market value of $60,000, inside basis to the partnership of $80,000). Teri remains a partner in the partnership, and the distribution is proportionate to the partners.
If an amount is zero, enter "0".
Complete the table below by using the format of Concept Summary 11.1 to calculate the effects of the distribution.
Note: If you use Excel to set up the table, designate the input area for the amounts on lines 1, 2, 5, and 8. Code the formulas shown in the Calculations section of the concept summary to calculate the amounts in the remaining lines. You will use "sum," "min," and "max"
TUTTICO Input Line 1 Partner's outside basis 80,000 Line 2 Step 1. Cash and deemed cash distributed 30,000 Line 5 Step 2. Partnership's basis in distributed hot assets Line 8 Step 3. Partnership's basis in other distributed property Proportionate Liquidating Distribution Calculations Line 1 Partner's outside basis Line 2 Step 1. Cash and deemed cash distributed Line 3 Gain recognized by partner Line 4 Partner's remaining outside basis Line 5 Step 2. Partnership's basis in distributed hot assets $i Line 6 Partner's basis in distributed hot assets Line 7 Partner's remaining outside basis Line 8 Step 3. Partnership's basis in other distributed property $ Line 9 Partner's basis in other distributed property $ Line 10 Partner's remaining outside basis
Answer:
Below
Explanation:
In the picture
Suppose payments will be made for 7 1/4 years at the end of each month from an ordinary annuity earning interest at the rate of
4.25%/year compounded monthly. If the present value of the annuity is $47,000, what should be the size of each payment from the
annuity? (Round your answer to the nearest cent.)
Please help!
Answer:
The size of the payment = $628.63
Explanation:
An annuity is a series of equal payment or receipt occurring for certain number of period.
The payment in question is an example of an annuity . We can work back the size of the payment using the present value of the ordinary annuity formula stated below
The Present Value of annuity = A × (1- (1+r)^(-n))/r
A- periodic cash flow,= ? r- monthly rate of interest - 4.25%/12= 0.354%
n- number of period- (71/4×12)= 87.
Let y represent the size of the payment, so we have
47,000 = y × ( 1-1.00354^(-87))/0.00354
47,000 = y× 74.76
y =47,000/74.7656= 628.63
The size of the payment = $628.63
benefits of online shopping?
Answer:
Saves time
Explanation:
Alden Co.’s monthly unit sales and total cost data for its operating activities of the past year follow. Management wants to use these data to predict future fixed and variable costs. Predict future total costs when sales volume is (a) 376,000 units and (b) 416,000 units.
Question Completion:
Month Units Sold Total Cost
1 318,000 $155,500
2 163,000 99,250
3 263,000 203,600
4 203,000 98,000
5 288,000 199,500
6 188,000 110,000
7 362,000 292,624
8 268,000 149,750
9 76,400 67,000
10 148,000 128,625
11 92,000 92,000
12 98,000 83,650
Estimate both the variable costs per unit and the total monthly fixed costs using the high-low method. (Do not round intermediate calculations.)
Answer:
Alden Co.
Future total costs when sales volume is:
(a) 376,000 units (b) 416,000 units
Variable costs $297,040 $328,640
Fixed costs 6,644 6,644
Total costs $303,684 $335,284
Explanation:
a) Data and Calculations:
Highest: Month 7 362,000 $292,624
Lowest: Month 9 76,400 $67,000
Difference 285,600 $225,624
Variable cost = $0.79 ($225,624/285,600)
Total variable cost:
At Highest Level = $285,980 ($0.79 * 362,000)
Fixed cost = Total costs - Total variable cost
= $6,644 ($292,624 - $285,980)
Check:
At lowest level:
Variable cost = $60,356 ($0.79 * 76,400)
Fixed costs = $6,644 ($67,000 - $60,356)
The general factory overhead and purchasing department expenses are common costs that the company allocates to all of its products using total sales dollars as the allocation base. The equipment used to manufacture Product A does not wear out through use and it has no resale value. What is the financial advantage (disadvantage) of dropping Product A
Answer: Disadvantage of $52,000
Explanation:
Financial advantage(disadvantage) of dropping Product A will depend on if the savings associated with the drop will be more than the contribution margin that A brings in.
If the product is dropped, the fixed costs that would be dropped are: the salary of the manager, the advertising for the product and the insurance on the inventories of the product.
The other fixed costs are either general or irrelevant (product does not wear so depreciation is irrelevant)
Advantage (disadvantage) = Savings - Contribution margin
= (65,000 + 35,000 + 8,000) - 160,000
= (52,000)