Answer:
A statement of changes in equity and similarly the statement of changes in owner's equity for a sole trader, statement of changes in partners' equity for a partnership, statement of changes in shareholders
Answer:
it is a financial statement prepared by corporation s that details changes in the volume of retained earnings over some period.
Explanation:
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Turner Corporation acquired two inventory items at a lump-sum cost of $100,000. The acquisition included 3,000 units of product LF, and 7,000 units of product 1B. LF normally sells for $30 per unit, and 1B for $10 per unit. If Turner sells 1,000 units of LF, what amount of gross profit should it recognize
Answer:
The amount of gross profit Turner Corporation should recognize is $20,000.
Explanation:
The following are given in the question:
Lump-sum cost = $100,000
Units of LF acquired = 3,000
Units of 1B acquired = 7,000
LF price per unit = $30
1B price per unit = $10
Unit of LF sold = 1,000
Therefore, we have:
Share of LF in the Lump-sum cost = (Units of LF acquired / (Units of LF acquired + Units of 1B acquired)) * Lump-sum cost = (3,000 / (3,000 + 7,000)) * $100,000 = $30,000
LF cost per unit = Share of LF in the Lump-sum cost / Units of LF acquired = $30,000 / 3,000 = $10
LF total revenue = Unit of LF sold * LF price per unit = 1,000 * $30 = $30,000
LF cost of goods sold = Unit of LF sold * LF cost per unit = 1,000 * $10 = $10,000
LF gross profit = LF total revenue - LF cost of goods sold = $30,000 - $10,000 = $20,000
Therefore, the amount of gross profit Turner Corporation should recognize is $20,000.
Sargent Corporation bought equipment on January 1, 2018. The equipment cost $360,000 and had an expected salvage value of $60,000. The life of the equipment was estimated to be 6 years. Assuming straight-line deprecation, the book value of the equipment at the beginning of the third year would be
Answer:
Book value= $260,000
Explanation:
First, we need to calculate the annual depreciation using the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (360,000 - 60,000) / 6
Annual depreciation= $50,000
Now, at the beginning of the third year, the asset accumulated depreciation two times.
Accumulated depreciation= 50,000*2 = 100,000
Finally, the book value:
Book value= purchase price - accumulated depreciation
Book value= 360,000 - 100,000
Book value= $260,000
Sumner sold equipment that it uses in its business for $32,000. Sumner bought the equipment a few years ago for $79,000 and has claimed $39,500 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss?
Answer:
Loss= $7,500
Explanation:
First, we need to calculate the book value of the equipment:
Book value= purchase price - accumulated depreciation
Book value= 79,000 - 39,500
Book value= $39,500
If the selling price is higher than the book value, the company made a profit by selling the equipment.
Gain/loss= selling price - book value
Gain/loss= 32,000 - 39,500
Loss= $7,500
1.2 Advise businesses on factors to be considered when designing presentation.
Mastering your subject and learning it.
Creating a plan and considering storytelling.
Your oral presentation needs preparation and practice.
Throughout the lecture, be relaxed.
What aspects are thought of when designing a presentation?They consist of the presentation's goal, the topic, the audience, the location or setting, the hour of the day, and the talk's duration.
What should I keep in mind when giving a business presentation?Immediately establish your credibility.
Early on in the presentation, include a goal.
Don't be shy with the supporting material.
Start each distinct idea with a strong quote or image.
Rhetorical or Thought-Provoking Questions
Make Surprising Claims.
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One important way in which banks make economic growth possible is by
A)
selling savings bonds.
B)
cashing payroll checks.
C)
lending money to business startups.
D)
offering checking and savings accounts.
Answer:
c). Lending money to business startups.
Explanation:
Banks receive deposits from customers, retains a small fraction, and loan out the big proposition to other customers. This way, banks pull together resources for businesses and households to borrow for consumption and expansion. Therefore, banks are intermediaries for the supply and demand for credit.
Banks help in economic development by availing capital for start-ups and growth through loans. They use customers' deposits to create credit facilities for businesses.
Suppose you bought a bond with an annual coupon rate of 7.5 percent one year ago for $898. The bond sells for $928 today. a. Assuming a $1,000 face value, what was your total dollar return on this investment over the past year
Answer: $105
Explanation:
The dollar return would be the sum of the returns (coupon) from the bond and any capital appreciation.
Coupon payment = Coupon rate * Face value
= 7.5% * 1,000
= $75
Capital appreciation = 928 - 898
= $30
Total dollar return = 75 + 30
= $105
The Baldwin's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automating, what would their total recruiting cost be
Answer:
$3,642,000
Explanation:
Calculation for what would their total recruiting cost be
First step is to calculate the workforce complement after the 20% growth
Workforce complement= 506 *(1+0.20)
Workforce complement= 506*1.2
Workforce complement= 607
Second step is to calculate the total recruiting cost Using this formula
Total recruiting cost= Number of complements * ($1,000 + Recruiting spend)
Let plug in the formula for
Total recruiting cost= 607 * ($1,000 + $5,000)
Total recruiting cost= 607 * $6,000
Total recruiting cost= $3,642,000
Therefore what would their total recruiting cost be is $3,642,000
Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 305 days.
Annual demand for steering wheels 30,500
Daily demand 100
Daily production (8 hours) 800
Desired lot size (2 hours of production) 200
Holding cost per unit per year $10
What is the setup cost, based on the desired lot size?
Answer:
$5.74
Explanation:
Q* = 2DS / H[1-(d/p)]
Q² = 2DS / H[1-(d/p)]
S = (Q²)(H)[1 - (d/p) / 2D
Setup cost S = (200^2)*(10)*(1 - (100/800)) / 2*30,500
Setup cost S = 40000*10*0.875 / 61000
Setup cost S = 350000 / 61000
Setup cost S = 5.737704918032787
Setup cost S = $5.74
Presented below is information available for Crane Company.
Current Assets
Cash $ 3500
Short-term investments 50000
Accounts receivable 56000
Inventory 80000
Prepaid expenses 25000
Total current assets $ 214500
Total current liabilities are $73000.
The acid-test ratio for Crane is:__________
Answer:
the acid-test ratio is 1.5 times
Explanation:
The computation of the acid-test ratio is as follows:
Acid test Ratio = Quick assets ÷ current liabilities
where,
Quick Assets is
= Cash + short tern investments + Account receivable
= $3,500 + $50,000 + $56,000
= $109,500
And, the current liabilities is $73,000
So, the acid-test ratio is
= $109,500 ÷ $73,000
= 1.5 times
Hence, the acid-test ratio is 1.5 times
You are working as a summer intern for AAA Auditing, Inc. You have been asked to help resolve discrepancies
The correct answer to this open question is the following.
Your question is missing some important pieces of information or numbers.
What is the subject of the auditory? What are the discrepancies? Based on what you will be recommending solutions to solve discrepancies.
However, trying to help you with something, we can comment on the following general terms.
As a summer intern for AAA Auditing, Inc., you can help resolve discrepancies by showing the correct processes you used in your auditory. For instance, you can show the numbers reported in the accounts.
You will show the numbers verified in the checkmarks, showing accounts debited and credited in Merchandise Inventory, Estimated Returns Inventory, or Cost of Merchandise Sold.
This solid information can be interpreted but is a good way to prove how the numbers are in the department. So showing these numbers can be a solid proof of the state of the processes and will help you solve discrepacies.
Chang Industries has 2,800 defective units of product that have already cost $14.80 each to produce. A salvage company will purchase the defective units as they are for $5.80 each. Chang's production manager reports that the defects can be corrected for $5.20 per unit, enabling them to be sold at their regular market price of $22.60. The Incremental Income or loss on reworking the units is:_______.A. $32,480 loss.B. $32,480 income.C. $14,560 loss.D. $47,040 income.E. $48,720 income.
Answer:
A. $32,480
Explanation:
Calculation for The Incremental Income or loss on reworking the units
First step is to calculate the incremental revenue from reworking
Incremental revenue from reworking= ($22.60- $5.80)
Incremental revenue from reworking (= $16.80
Second step is to calculate net benefit per unit to rework
Net benefit per unit to rework= 16.80- 5.20
Net benefit per unit to rework = $11.60
Last step is to calculate the incremental income from reworking
Incremental income from reworking= ($11.60* 2,800 units)
Incremental income from reworking = $32,480
Therefore The Incremental Income or loss on reworking the units is:$32,480
Food King gathered the following information for the fourth quarter of 20X9: Budgeted sales for October $25,000 Monthly Expenses: Salary expense $1,500 Rent expense $1,000 Depreciation expense $400 Sales commissions 10% of sales Advertising expense 8% of sales Miscellaneous expense 5% of sales Monthly sales are expected to increase by 5% each month. Prepare an operating expense budget for the fourth quarter (for three separate months) of 20X9.
Answer and Explanation:
The presentation of the operating expense budget is presented below:
Particulars October November December
Budgeted sales $25,000 $26,250 $27,562.5
($25,000 × 1.05) ($26,250× 1.05)
Salary Expense $1,500 $1,500 $1,500
Rent expense $1,000 $1,000 $1,000
Depreciation
expense $400 $400 $400
Sales Commission $2,500 $2,625 $2,756
($25,000 ×10%) ($26,250 × 10%) ($27,562.50 × 10%)
Advertising expense $2,000 $2,100 $2,205
($25,000 ×8%) ($26,250 × 8%) ($27,562.50 × 8%)
Miscellaneous expense $1,250 $1,312.5 $1,378
($25,000 ×5%) ($26,250 × 5%) ($27,562.50 × 5%)
Total Monthly expenses $8,650 $8,937.5 $9,239
Expert power Group of answer choices is derived from organizationally conferred decision-making authority. arises from manager access, control, and distribution of information that is not freely available to everyone in an organization. is derived from referent power. is derived from leader capability and knowledge in a particular field.
Answer:
is derived from leader capability and knowledge in a particular field
Explanation:
The expert power is thinking with respect to a specific person that contains the knowledge level or the specific level but the other person dont have
Also the person have the expertise in a specific field due to which the people around feel that the person powerful and give more values to his opinion
Therefore as per the given option, the last option is correct
A company does a major upgrade ($10,000) to a building that is NOT expected to extend the useful life of the building. Data for building before the upgrade: Cost $100,000 Accumulated Depreciation $20,000 What is the journal entry to record the upgrade
Answer:
Debit : Building $10,000
Credit : Cash $10,000
Explanation:
The major upgrade is treated as if we purchased another Building separately, with own useful life.
So, the upgrade will increase the Assets of the Buildings (Debit) and decrease the Assets of Cash to depict outflow of economic benefits.
Now, Depreciation for the year will then be considered separately for the Building in existence and the upgrade as they have different useful life.
The last step in the decision-making process is where you_____your decision, This helps you to look back on your decision and decide if you chose correctly or would do anything differently change differentiate complain evaluate I will mark you brainless plz help
Answer:
In this final step, consider the results of your decision and evaluate whether or not it has resolved the need you identified in Step 1. If the decision has not met the identified need, you may want to repeat certain steps of the process to make a new decision.
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Through the capital budgeting process, financial managers will decide which ___________ the organization will fund.
Answer: project or investments
Explanation:
Capital budgeting is the process tbat us used by a business when the projects or investments that a particular business wants to undertake are critically looked into and the b at one is chosen.
Through the capital budgeting process, financial managers will decide which project or investments the organization will fund.
______ The Financial Accounting Standards Board (FASB) is the primary organization responsible for setting accounting standards in the United States, known as Generally Accepted Accounting Principles (GAAP).
True
The Financial Accounting Standards Board (FASB) is an independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States, following generally accepted accounting principles (GAAP).
At the most recent staff meeting of Hyperactive Media Sales, the general manager gave you instructions to make the laptops used by the salespeople as secure as possible. You have decided to implement a new advanced sign-in process for the users. How will you explain to the general manager how using new authentication methods makes the laptops more secure
Answer:
New authentication methods such as the picture password, 2 factor authentication method, biometric identification, etc ensure that authentication credentials are safe and cannot be stolen and used from another laptop.
New authentication methods gives tougher walls of security which cannot be easily broken into thereby leaving the system protected and secure.
Due to increasing activities of cyber criminals, new and more sophisticated authentication processes are being developed giving laptops and computer systems better security as attackers are unable to exploit passwords.
An example of a public want is a family wanting a new car.
O True
O False
Answer: False
Explanation:
I. the European Union
II. ASEAN
III. OPEC
IV. NAFTA
People who support free trade would MOST LIKELY support the efforts of which of these organizations?
A)
I and IV only
B)
II and IV only
C)
I, II, and IV only
D)
I, III, and IV only
Answer:
C). I, II, and IV only
Explanation:
The Association of Southeast Asian Nations (ASEAN), the European Union (EU), and the North American Free Trade Agreement (NAFTA) are bodies that promote trade and economic cooperation among member countries. They are treaties that aim are accelerating economic and social integration by eliminating or minimizing restrictions on the movement of people and commodities across borders.
Opec is an association of oil-producing countries. Its objective is to have similar oil policies in member countries. Opec is a cartel-like group that aims at controlling international oil prices.
What word is out of place? (Karlins text)
boat
O duck
O dog
O child
I think it's duck but i'm not 100% sure
The objective of imposing a higher pollution tax is to ensure firms have pollution charge credits for all reduced emissions. provide incentive for firms to maintain regulation emission levels. provide adequate incentive for firms to reduce their emissions by more. ensure firms must pay the pollution charge for all reduced emissions.
Answer:
provide adequate incentive for firms to reduce their emissions by more.
Explanation:
Pollution charge can be regarded as a tax imposed on firms based on the quantity of pollution emmitted to atmosphere by the firm. With imposition of pollution tax, profit-maximizing firm would have the incentive to look out for ways to reduce the firm's emissions provided the marginal cost required to reduce the emissions is not equal or more than the tax. It should be noted that the objective of imposing a higher pollution tax is to ensure firms have pollution charge credits for all reduced emissions provide adequate incentive for firms to reduce their emissions by more.
The objective of imposing a higher pollution tax is to ensure firms provide adequate incentives for firms to reduce their emissions by more.
A levy called a pollution tax is imposed on people who pollute or harm the environment. This tax's primary goal is to lessen harm to the environment. A component of the economic system intended to lessen pollution and its damaging effects on the environment is the pollution tax. Polluters are taxed for the harm their actions do to the environment and other people.
Pollution taxes include the carbon tax. Based on the amount of carbon that is released during combustion, it imposes a tax on the production, distribution, or use of fossil fuels.
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Senbet Ventures is considering starting a new company to produce stereos. The sales price would be set at 1.5 times the variable cost per unit. The Variable Cost per unit is estimated to be $2.50. The total fixed costs are estimated at $126,000. How many stereos would the company be required to sell in order to make a profit of $150,000
Answer:
the break even point in units in order to make a profit is 220,800 units
Explanation:
The computation of the break even point in units in order to make a profit is shown below:
Break even point in units is
= (Fixed cost + profit) ÷ (Selling price per unit - variable cost per unit)
= ($126,000 + $150,000) ÷ ($2.50 × 1.5 - $2.50)
= $276,000 ÷ ($3.75 - $2.50)
= 220,800 units
hence, the break even point in units in order to make a profit is 220,800 units
One year ago, you bought shares of Aaon, Inc at $36.48 a share. You received a dividend of $1.62 per share last month and sold the stock today for $41.18 a share. What is the capital gains yield on this investment?
a) 11.41%
b) 15.62%
c) 4.44%
d) 12.88%
Answer: 12.88%
Explanation:
The following information can.be inferred from the question:
Purchase price of share = $36.48
Dividend = $1.62
Selling price = $41.18
Capital gain = $41.18 - $36.48 = $4.70
Capital gain yield:
= Capital gain / Purchase price × 100
= (4.70 / 36.48) × 100
= 0.1288
= 12.88%
Purple Rose Corporation reported pretax book income of $500,000.
Tax depreciation exceeded book depreciation by $300,000.
In addition, the company received $250,000 of tax-exempt life insurance proceeds.
The prior-year tax return showed taxable income of $100,000.
Compute Purple Rose's current income tax expense or benefit.
Answer: $68,000
Explanation:
Let us assume that we are given a tax rate of 34% to use in computing the question. Therefore, Purple Rose's current income tax expense or benefit will be:
Pre-tax book income = $500,000
Less: Tax depreciation = $300,000
Net Income = $500,000 - $300,000 = $200,000
Current income tax expenses at 34% will then be:
= 34% × Net income
= 34/100 × $200,000
= $68,000
A company issues 8% bonds with a par value of $40,000 at par on January 1. The market rate on the date of issuance was 7%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bond holder(s) is:
Answer:
$1,600
Explanation:
Cash paid on 1 July is calculated as below:
Cash paid = Face value * Coupon rate *1/2
Cash paid = $40,000 * 8% * 1/2
Cash paid = $40,000 * 0.08 * 0.5
Cash paid = $1,600
Where can you find TCS process for Business Continuity Management?
The TCS process for business continuity management is handled by Head of Corporate Security for Asia, who manages fraud risk and information security.
A business is defined as an organization or enterprising entity engaged in business, business, or professional sports. Businesses may be for-earnings entities or non-income organizations. Enterprise sorts variety from constrained liability corporations to sole proprietorships, organizations, and partnerships.
Agencies assist society first through the distribution of goods and services which might be vital for survival. Moreover, they invent employment possibilities that help individuals inside the society earn an profits to have the funds for their desires.
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What is the source of funds for transactions completed with debit cards
Answer:
The cardholder checking account
Explanation:
A debit card facilitates remote access to a customer's funds held in a checking account. The cardholder can make payments for goods and services using the money in their account through the debit card. Therefore, every debit card transaction reduces the customer's bank balance immediately. Should the customer have insufficient funds in their account, the payment will fail.
Answer:
Explanation:bank account
The Macaulay convexity of a single cash flow is 64 at an annual effective interest rate of 10%. Calculate the modified duration of this single cash flow.
A 7.3
B 7.6
C 8.0
D 8.4
E. 8.8
Answer:
A 7.3
Explanation:
Macaulay Convexity = 64, as about a single cash flow
Since it is a single cash flows, convexity is square the Macaulay duration of the bond.
Convexity = √Macaulay duration.
So, Macaulay duration = Convexity^(1/2)
Macaulay duration = Convexity^(0.5)
Macaulay duration = 64^0.5
Macaulay duration = 8
So, the Macaulay duration = 8 years
Now, Modified duration = Macaulay duration/(1+yield)
Modified duration = 8/(1+0.1)
Modified duration = 8/1.1
Modified duration = 7.27273
Modified duration = 7.3 years
A hardware store rents its one wood chipper. A request for the chipper arrives every 4 days with a standard deviation of 4 days. On average clients rent the chipper for one day. If a request arrives and the chipper is not available, customers rent from another company. What is the utilization of the wood chipper?
Answer:
20%
Explanation:
The question has a Mean of 1 day and the Standard deviation is 4 days, So it is apparent that in every Five days including the 4 days standard deviation, we have the chipper to be available and clients in need of it can rent it for 1 day.
Therefore if the chipper is going to be rented on the 1st day, it would be rented again after 4 days, on the 5th day.
utilization for the chipper will be
= (1/5) x 100
= 0.2 x 100
= 20%