Business

Bill works at Peterbuilt on the assembly line producing truck frames. Bill is exceptionally knowledgeable about the equipment needed to do his job and often makes recommendations to management on the specifications for and alternative suppliers of needed equipment. Given Bills position on the assembly line as an operator, he probably functions in the buying center at Peterbuilt as a(n):
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You are going into business with 4 equal partners (not counting yourself). If in 6 years, the business is making a profit of $1,000,000, what is your share? A. $180,000B. $190,000C. $200,000D. $210,000
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A $3.6 million state lottery pays $15,000 at the beginning of each month for 20 years. How much money must the state actually have in hand to set up the payments for this prize if money is worth 5.8%, compounded monthly
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research how consumers might use dispute resolution to resolve conflicts with businesses.
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Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $104,500, allowance for doubtful accounts of $665 (credit) and sales of $925,000. If uncollectible accounts are estimated to be 0.5% of sales, what is the amount of the bad debts expense adjusting entry? A. $4,625 B. $3,960 C. $5,290 D. $4,750 E. $4,825 57,1 17.
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The following balance sheet for the Hubbard Corporation was prepared by the company:HUBBARD CORPORATIONBalance SheetAt December 31, 2016 AssetsBuildings $760,000 Land 280,000 Cash 70,000 Accounts receivable (net) 140,000 Inventories 260,000 Machinery 290,000 Patent (net) 110,000 Investment in marketable equity securities 80,000 Total assets $1,990,000 Liabilities and Shareholders' EquityAccounts payable $225,000 Accumulated depreciation 265,000 Notes payable 520,000 Appreciation of inventories 90,000 Common stock, authorized and issued110,000 shares of no par stock 440,000 Retained earnings 450,000 Total liabilities and shareholders' equity $1,990,000 Additional information:1. The buildings, land, and machinery are all stated at cost except for a parcel of land that the company is holding for future sale. The land originally cost $60,000 but, due to a significant increase in market value, is listed at $140,000. The increase in the land account was credited to retained earnings.2. Marketable equity securities consist of stocks of other corporations and are recorded at cost, $30,000 of which will be sold in the coming year. The remainder will be held indefinitely.3. Notes payable are all long-term. However, a $200,000 note requires an installment payment of $50,000 due in the coming year.4. Inventories are recorded at current resale value. The original cost of the inventories is $170,000.Required:Prepare a corrected classified balance sheet for the Hubbard Corporation at December 31, 2016.
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Workers are responsible for the production of goods in a business, but business owners exploit their workers. A) Workers should revolt, B) take over the businesses, C) set up a government to run the economy on their behalf. Which political thinker would be most likely to agree with this statement
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Identify cash equivalents from the listed items. a. Money market funds b. Supplies c. Three-month Treasury bills d. Accounts receivable e. Prepaid rent
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Bill and Ted are deciding what musical instruments they want to learn pick between the guitar, keyboard, and the drums to play for their band. They can They both want to have a good band, but also each has a preference over what to play. Both like the guitar over all else. However, Bill likes the keyboard more than the drums and Ted likes the drums more than the keyboard. What is crucial is that each chooses a different instrument, otherwise the band is pretty terrible. The actual combination does not affect the quality of the band. One night, Bill and Ted simultaneously reveal to each other what instrument they have bought and learned to play. Since they bought AND learned to play the instru- are committed to it! Given the information above, answer the following: ment they 1. Does either Bill or Ted have a dominant/dominated strategy? Explain 2. If Bill picks the keyboard, is it a best response for Ted to pick the drums? Explain 3. If Ted picks the guitar, is it a best response for Bill to pick the keyboard? Explain 4. Can there exist a Nash equilibrium in which Bill picks the drums and Ted picks the keyboard? Explain 5. Can there exist a Nash Equlibrium in which Bill picks the guitar and Ted picks the drums? Explain
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Crinkle Cut Clothes Company manufactures two products CC1 and CC2. Current direct material and direct labor costs are detailed below. Next year the company wishes to use a plantwide overhead rate with direct labor hours as its allocation base. Next year's overhead is estimated to be $350,640. The direct labor and direct materials costs are estimated to be consistent with the current year. Direct labor costs $20 per hour and the company expects to manufacture 42,000 units of CC1 and 111,000 units of CC2 next year. CC1: Direct material per unit $37.10, Direct Labor Dollars Per Unit $22.40CC2: Direct material per unit $25.20, Direct Labor Dollars Per Unit $15.40Required:Compute the plantwide overhead rate for next year.
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Target (TGT) recently earned a profit of $4.15 per share and has a P/E ratio of 23.19. Earnings have been growing at 11.5 percent per year over the past few years. If this growth continues, what would the stock price be in five years if the P/E ratio remains unchanged
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The purpose of a bond sinking fund is to: Multiple Choice accumulate funds needed to pay the tax liability on the bond proceeds. accumulate funds to pay the regular interest payments. hold the bond proceeds until the funds need disbursed. repay bonds early either through purchases or calls. repay bondholders from a trust fund if the issuer defaults.
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The fact that generally accepted accounting principles allow companies flexibility in choosing between certain allocation methods can make it difficult for a financial analyst to compare periodic performance from firm to firm. Suppose you were a financial analyst trying to compare the performance of two companies. Company A uses the double-declining-balance depreciation method. Company B uses the straight-line method. You have the following information taken from the 12/31/2021 year-end financial statements for Company B:Income Statement Depreciation expense $12,500 Balance Sheet Assets: Plant and equipment, at cost $125,000 Less: Accumulated depreciation (50,000) Net $75,000 You also determine that all of the assets constituting the plant and equipment of Company B were acquired at the same time, and that all of the $125,000 represents depreciable assets. Also, all of the depreciable assets have the same useful life and residual values are zero.Required:a. In order to compare performance with Company A, estimate what B's depreciation expense would have been for 2021? b. If Company B decided to switch depreciation methods in 2021 from the straight line to the double-declining-balance method, prepare the 2021 journal entry to record depreciation for the year
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Can anyone help me match these into the correct category?
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Broussard Skateboard's sales are expected to increase by 25% from $8.6 million in 2019 to $10.75 million in 2020. Its assets totaled $2 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 45%.Required:Use the AFN equation to forecast Broussard's additional funds needed for the coming year.
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Pearsall Company's defined benefit pension plan had a PBO of $275,000 on January 1, 2021. During 2021, pension benefits paid were $45,000. The discount rate for the plan for this year was 11%. Service cost for 2021 was $88,000. Plan assets (fair value) increased during the year by $55,000. The amount of the PBO at December 31, 2021, was:
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You earn $50,000 per year, and paid 10 percent in taxes this year. The government increased the tax rate to 20 percent for nextyear. Which amount will you pay in taxes next year?A) $1,000B) $2.000C) $5,000D) $10.000
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How has the introduction of these markets, technologies and resources affected the lifestyle of the people of Cuba
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A company issued 130 shares of $100 par value common stock for $15,400 cash. The total amount of paid-in capital in excess of par is:
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DelRay Foods must purchase a new gumdrop machine. Two machines are available. Machine 7745 has a first cost of $8,000, an estimated life of 10 years, a salvage value of $1,000, and annual operating costs estimated at $0.01 per 1,000 gumdrops. Machine A37Y has a first cost of $8,000, a life of 10 years, and no salvage value. Its annual operating costs will be $260 regardless of the number of gumdrops produced. MARR is 6%/year, and 30 million gumdrops ware produced each year.Based on an internal rate of return analysis, which machine should be recommended?
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Two-Stage ABC for Manufacturing Detroit Foundry, a large manufacturer of heavy equipment components, has determined the following activity cost pools and cost driver levels for the year: Activity Cost Pool Activity Cost Activity Cost Driver Machine setup $720,000 12,000 setup hours Material handling 120,000 3,000 material moves Machine operation 680,000 10,000 machine hours The following data are for the production of single batches of two products, C23 Cams and U2 Shafts during the month of August: C23 Cams U2 Shafts Units produced 500 300 Machine hours 4 5 Direct labor hours 200 400 Direct labor cost $5,000 $10,000 Direct materials cost $20,000 $15,000 Tons of materials 13 8 Setup hours 3 7Determine the unit costs of C23 Cams and U2 Shafts using ABC. Product Costs C23 Cams U2 Shafts Direct materials 30,000 $20,000 Direct labor 5,000 10,000 Manufacturing overhead Machine setups 150 300 Material handling 780 480 Machine operation 100,000 X 75,000 X Total job costs $135,930 X $105,830 X Units produced 500 300 Cost per unit produced 271.86 352.77
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How should you handle an employee who keeps coming to you asking for information regarding major policies, vacations, and benefit(s)?
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You purchased a bond at a price of $13,100. In 15 years when the bond matures, the bond will be worth $30,000. It is exactly 7 years after you purchased the bond and you can sell the bond today for $21,300. If you hold the bond until it matures, what annual rate of return will you earn from today
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According to the table, which religion had the most active congregations in New Jersey in 1765?New Jersey Active Congregations (1765)
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