Answer: Japan ; Japan
Explanation:
Absolute advantage in the production of a good means that one is able to produce more of the good in a certain period of time. This can also mean that they take a shorter time to produce a single unit of a good.
Going by this definition, Japan has an absolute advantage in the production of both sedans and trucks because they take less time to produce both types of vehicles which means that they can produce more of both than the United States if given a certain period of time.
Listed below are year-end account balances ($ in millions) taken from the records of Poe Dameron's Pilot School. Debit Credit Accounts receivable 668 Building and equipment 922 Cash 40 Interest receivable 38 Inventory 19 Land 153 Notes receivable (long-term) 475 Prepaid rent 36 Supplies 11 Trademark 46 Accounts payable 615 Accumulated depreciation 74 Additional paid-in capital 481 Dividends payable 30 Common stock (at par) 13 Income tax payable 49 Notes payable (long-term) 811 Retained earnings 313 Deferred revenue 22 TOTALS 2,408 2,408 What would Poe Dameron's Pilot School report as total assets
Answer:
$812
Explanation:
Current assets:
Details Amount
Account receivable $668
Cash $40
Interest Receivable $38
Inventory $19
Prepaid rent $36
Supplies $11
Total Assets $812
On January 1, 2021, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock, which represents 10% ownership. Papa reported net income of $52,000 for the year ended December 31, 2021. The fair value of the Papa stock on that date was $45 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2021
Answer:
$360,000
Explanation:
According to the scenario, computation of given data are as follows,
Nana company bought shares = 8,000
Fair value of share = $45 per share
So, we can calculate the amount to be reported in balance sheet by using following formula,
Amount to be reported in balance sheet = Number of shares bought × Fair value per share
= 8,000 × $45
= $360,000
Sheffield Corporation incurred the following costs in 2020. Cost of laboratory research aimed at discovery of new knowledge $145,000 Cost of testing in search for product alternatives 92,000 Cost of engineering activity required to advance the design of a product to the manufacturing stage 240,000 $477,000 Prepare the necessary 2020 journal entry or entries for Sheffield.
Answer: Debit Research and Development expense $477,000
Credit Cash $477,000
Explanation:
The journal entry simply refers to the recording of transactions that a company makes and it should be noted that the total amount that's gotten in the debit column must be equal to the total amount that us gotten in the credit column.
Based on the information given in the question, the journal entry for Sheffield Corporation will be:
Debit Research and Development expense $477,000
Credit Cash $477,000
Myers Corporation has the following data related to direct materials costs for November: actual cost for 4,650 pounds of material at $5.40 and standard cost for 4,490 pounds of material at $6.20 per pound. The direct materials price variance is a.$992 favorable b.$3,720 unfavorable c.$3,720 favorable d.$992 unfavorable
Answer:
Direct material price variance= $3,720 favorable
Explanation:
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Actual cost= $5.4
Standard cost= $6.2
Actual quantity= 4,650
Direct material price variance= (6.2 - 5.4)*4,650
Direct material price variance=$3,720 favorable
1. Corporation management is both an advantage and a disadvantage of a corporation compared to a proprietorship or a partnership.
a) true
b) false
2. Limited liability of stockholders, government regulations, and additional taxes are the major disadvantages of a corporation.
a) true
b) false
3. When a corporation is formed, organization costs are recorded as an asset.
a) true
b) false
4. Each share of common stock gives the stockholder the ownership rights to vote at stockholder meetings, share in corporate earnings, keep the same percentage ownership when new shares of stock are issued, and share in assets upon liquidation.
a) true
b) false
5. The number of issued shares is always greater than or equal to the number of authorized shares.
a) true
b) false
6. A journal entry is required for the authorization of capital stock.
a) true
b) false
7. Publicly held corporations usually issue stock directly to investors.
a) true
b) false
8. The trading of capital stock on a securities exchange involves the transfer of already issued shares from an existing stockholder to another investor.
a) true
b) false
9. The market price of common stock is usually the same as its par value.
a) true
b) false
10. Retained earnings is the total amount of cash and other assets paid in to the corporation by stockholders in exchange for capital stock.
a) true
b) false
Answer: 1. True
2. False
3. False
4. True
5. False
6. False
7. False
8. True
9. False
10. False
Explanation:
1. Corporation management is both an advantage and a disadvantage of a corporation compared to a proprietorship or a partnership is true.
2. This is false. LImited liability is not a disadvantage of a corporation. It is an advantage of a corporation.
3. Thus is false. When a corporation is formed, it should be noted that organization costs are expenses and not recorded as an asset.
4. This is true. Every share of common stock gives provides the stockholder the ownership rights to vote at stockholder meetings, and also share in corporate earnings, as well as keeping same percentage ownership when new shares of stock are issued, and will also share in the assets upon liquidation.
5. False. It should be noted that the number of authorized shares is typically more than greater or equal to the issued shares.
6. False. A journal entry is not required for the authorization of capital stock. It's required for the issuance of the capital stock.
7. Publicly held corporations do not issue stock directly to investors. Rather, this is done indirectly. It is the private corporations that issue their stock directly.
8. This is true. The trading of capital stock on a securities exchange has to do with the transfer of already issued shares from an existing stockholder to another investor.
9. False. The statement that "The market price of common stock is usually the same as its par value" is false. It should be noted that there's no relationship between the common stock market price and its par value.
10. This is false. The retained earnings simply meansis the total amount of the net income that is held by a corporation for use in the future.
Matching Items Reported to Cash Flow Statement Categories (Indirect Method)
Reebok International Ltd. is a global company that designs and markets sports and fitness products, including footwear, apparel, and accessories. Some of the items included in its recent annual consolidated statement of cash flows presented using theindirect method are listed here.
Indicate whether each item is disclosed in the Operating Activities (O), Investing Activities (I), or Financing Activities (F) section of the statement or (NA) if the item does not appear on the statement. (Note: This is the exact wording used on the actual statement.)
_____ 1. Dividends paid
_____ 2. Repayments of long-term debt
_____ 3. Depreciation and amortization
_____ 4. Proceeds from issuance of common stock to employees
_____ 5. [Change in] Accounts payable and accrued expenses
_____ 6. Cash collections from customers
_____ 7. Net repayments of notes payable to banks
_____ 8. Net income
_____ 9. Payments to acquire property and equipment
_____ 10. [Change in] Inventory
Answer and Explanation:
The matching is as follows:
1. It is a financing activity
2, It is also a financing activity
3. It is an operating activity
4. It is a financing activity
5 It is an operating activity
6. It is NA
7. It is a financing activity
8. It is an operating activity
9. It is an investment activity
10. It is an operating activity
In this way, it should be matched with the transactions given in the question
The same would be relevant and considered
Winnebagel Corp. currently sells 28,300 motor homes per year at $74,500 each and 7,300 luxury motor coaches per year at $116,500 each. The company wants to introduce a new portable camper to fill out its product line; it hopes to sell 23,300 of these campers per year at $20,500 each. An independent consultant has determined that if the company introduces the new campers, it should boost the sales of its existing motor homes by 2,900 units per year and reduce the sales of its motor coaches by 880 units per year.
Required:
What is the amount to use as the annual sales figure when evaluating this project?
Answer:
Annual sales figure = $42,178.11
Explanation:
The annual sales figure is the sum of the sales of campers and the additional sales of homes less of sales of motor coaches lost.
This is computed below:
$
Sales of camper 20,500
Motor homes (2,900/28,300× 74,500) = 7,634.28
Motor coaches (880/7,300× 116,500) = (14,043.84)
Annual sales figure 42,178.11
Annual sales figure = $42,178.11
Which statement best represents the relationship between date of declaration, date of record and ex-dividend date, and date of payment, for a cash dividend.
A. The date of payment results in the biggest decrease in the current ratio.
B. The ex-dividend date establishes the decrease to cash.
C. The date of record establishes the amount to be received.
D. The date of declaration establishes the increase to liabilities.
Answer: D. The date of declaration establishes the increase to liabilities.
Explanation:
The statement that best represents the relationship that exist between the date of declaration, the date of record and ex-dividend date, and the date of payment for a cash dividend is that the date of declaration helps in establishing the increase to liabilities.
On the declaration date, it should be noted that the board of directors will declares that the shareholders will be paid dividend on a specific future date. Then, the corporation will then becomes legally liable for the payment of the dividend on the declaration date.
Selected information from Jacklyn Hyde Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to retire notes $ 94 Common shares acquired for treasury 154 Proceeds from issuance of preferred stock 218 Proceeds from issuance of subordinated bonds 274 Cash dividends paid on preferred stock 77 Cash interest paid to bondholders 107 In its statement of cash flows, Jacklyn Hyde should report net cash inflows from financing activities of: Multiple Choice $325 million. $167 million. $218 million. $64 million.
Answer:
$167 million
Explanation:
Particulars Amount ($ millions)
Cash paid to retire note -94
Less: Common shares acquired for treasury -154
Add: Proceeds from issue of preferred stock 218
Add: Proceeds from issue of subordinated bonds 274
Less: Cash dividends paid on preferred stock -77
Net cash from financing activities 167
Note: Cash interest paid to bondholders belongs to Operating activity
Required: Compute financial ratios as follows: 1. Earnings per share. (Round your answer to 2 decimal places.) 2. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).) 3. Dividend yield ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).) 4. Price-earnings ratio. (Round your intermediate calculations to 2 decimal places. Round your answer to nearest whole number.) 5. Book value per share. (Round your answer to 2 decimal places.)
Answer:
1. Earnings per share = $13.13 per share
2. Dividend payout ratio = 26%
3. Dividend yield ratio = 5%
4. Price-earnings ratio = 5
5. Book value per share = $58.00
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the full question.
The explanation of the answers is now provided as follows:
1. Earnings per share. (Round your answer to 2 decimal places.)
Number of shares outstanding = Common stock / Common stock par value = $140,000 / $10 = 14,000
Earnings per share = Net income / Number of shares outstanding = $183,820 / 14,000 = $13.13 per share
2. Dividend payout ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).)
Dividend payout ratio = Dividend per share / Earnings per share = $3.35 / $13.13 = 0.2551, or 26%
3. Dividend yield ratio. (Round your intermediate calculations to 2 decimal places. Round your percentage final answer to nearest whole number (i.e., 0.1234 should be entered as 12).)
Dividend yield ratio = Dividend per share / Market price per share = $3.35 / $61 = 0.0549, or 5%
4. Price-earnings ratio. (Round your intermediate calculations to 2 decimal places. Round your answer to nearest whole number.)
Price-earnings ratio = Market price per share / Earnings per share = $61 / $13.13 = 4.65, or 5
5. Book value per share. (Round your answer to 2 decimal places.)
Book value per share = Total stockholders’ equity / Number of shares outstanding = $812,000 / 14,000 = $58.00
International Management Position (Scenario)
Global Choppers Inc. is an MNE based in Vancouver that manufactures high-quality motorcycles for sale around the world. The majority of design work is done at the Vancouver headquarters, but manufacturing and assembly are performed in company facilities located in Romania. In order to maintain control over manufacturing quality, Global Choppers sends representatives from the company headquarters to manage the Romanian facility for one year rotations. Conrad O'Neil has been selected to run the foreign facility for the upcoming year. The human resources department of Global Choppers will be preparing him for his foreign assignment through a variety of training methods.
Conrad's training for his assignment in Romania would most likely include ________.
Answer: area studies
Explanation:
Based on the information given in the question, Conrad's training for his assignment in Romania would most likely include the area studies.
Area studies simply refers to the study of the political or the geographical area
of a particular region and this consist of the history, language, geography and the general culture of the place.
Since Conrad O'Neil has been selected to run the foreign facility for the upcoming year, he needs to be trained on the area studies of the place.
Northwest Fur Co. started 2021 with $95,000 of merchandise inventory on hand. During 2021, $440,000 in merchandise was purchased on account with credit terms of 3/15, n/45. All discounts were taken. Purchases were all made f.o.b. shipping point. Northwest paid freight charges of $9,100. Merchandise with an invoice amount of $3,800 was returned for credit. Cost of goods sold for the year was $365,000. Northwest uses a perpetual inventory system.
Assuming Northwest uses the gross method to record purchases, what is the cost of goods available for sale?
A. $540,300.
B. $527,214.
C. $539,100.
D. $527,100.
Answer:
B. $527,214
Explanation:
Calculation to determine the cost of goods available for sale
Beginning inventory $95,000
Add Inventory purchased $440,000
Add Freight charges $9,100
Less Merchandise returned ($3,800)
Less Discounts ($13,086)
[($440,000 – 3800) x 3%)]
Cost of goods available for sale $527,214
Therefore Cost of goods available for sale is $527,214
Qu. 13-95 (Algo) Two products, QI and VH, emerge from a joint process... Two products, QI and VH, emerge from a joint process. Product QI has been allocated $27,300 of the total joint costs of $48,000. A total of 2,200 units of product QI are produced from the joint process. Product QI can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,200 and then sold for $13 per unit. If product QI is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point
Answer and Explanation:
The computation of the financial advantage or disadvantage is as follows:
Particulars Product Q1
Selling price after further processing 13.00
Selling price at split off point 11.00
Incremental revenue per pound or gallon 2.00
Total production 2,200.00
Total Incremental Revenue 4,400.00
Total Incremental Processing costs 10,200.00
Total Incremental profit or loss (5,800.00)
Since there is an incremental loss so the same would be Sold at split off
Diamond Boot Factory normally sells its specialty boots for $26 a pair. An offer to buy 90 boots for $22 per pair was made by an organization hosting a national event in Norfolk. The variable cost per boot is $10, and special stitching will add another $2 per pair to the cost. Determine the differential income or loss per pair of boots from selling to the organization. $fill in the blank 1 Should Diamond Boot Factory accept or reject the special offer
Answer: i would say they could accept because it seems to be pretty cheap and you would be able to decorate for 2 dollars and you can see the diff price for each boot and more.
Explanation:
pls mark brainliest
The stockholders' equity section of Sheridan Company balance sheet at December 31, 2019, appears below:
Stockholders' equity
Paid-in capital
Common stock, $10 par value, 410,000 shares authorized;
330,000 issued and outstanding $3,300,000
Paid-in capital in excess of par 1,250,000
Total paid-in capital 4,550,000
Retained earnings 800,000
Total stockholders' equity $5,350,000
During 2020, the following stock transactions occurred:
Jan. 18 Issued 80,000 shares of common stock at $24 per share.
Aug. 20 Purchased 26,000 shares of Sheridan Company common stock at $26 per share to be held in the treasury.
Nov. 5 Issued 50,000 shares of common stock at $32 per share.
1. Prepare the journal entries to record the above stock transactions.
2. Prepare the stockholders' equity section of the balance sheet for Makoto Corporation at December 31, 2021. Assume that net income for the year was $100,000 and that no dividends were declared.
Answer:
Sheridan Company
1. Journal Entries:
Jan. 18 Debit Cash $1,920,000
Credit Common stock $800,000
Credit Paid-in capital in excess of par $1,120,000
To record the issuance of 80,000 shares of common stock at $24 per share.
Aug. 20 Debit Treasury stock $260,000
Debit Paid-in capital in excess of par $416,000
Credit Cash $676,000
To record the repurchase of 26,000 shares of Sheridan Company common stock at $26 per share to be held in the treasury.
Nov. 5 Debit Cash $1,600,000
Credit Common stock $500,000
Credit Paid-in capital in excess of par$1,100,000
To record the issuance of 50,000 shares of common stock at $32 per share.
2. Stockholders' Equity Section of Sheridan Company
Balance Sheet at December 31, 2019:
Paid-in capital
Common stock, $10 par value, 410,000 shares authorized;
330,000 issued and outstanding $4,600,000
Paid-in capital in excess of par 3,054,000
Treasury stock (260,000)
Total paid-in capital 7,394,000
Retained earnings 900,000
Total stockholders' equity $8,284,000
Explanation:
a) Data and Calculations:
Stockholders' Equity Section of Sheridan Company
Balance Sheet at December 31, 2019:
Paid-in capital
Common stock, $10 par value, 410,000 shares authorized;
330,000 issued and outstanding $3,300,000
Paid-in capital in excess of par 1,250,000
Total paid-in capital 4,550,000
Retained earnings 800,000
Total stockholders' equity $5,350,000
b) Transaction Analysis:
Jan. 18 Cash $1,920,000 Common stock $800,000 Paid-in capital in excess of par $1,120,000
Aug. 20 Treasury stock $260,000 Paid-in capital in excess of par $416,000 Cash $676,000
Nov. 5 Cash $1,600,000 Common stock $500,000 Paid-in capital in excess of par$1,100,000
Common stock:
Dec. 31, 2019: 330,000 issued and outstanding $3,300,000
Jan. 18, 2020: 80,000 issued of new shares 800,000
Nov. 5, 2020: 50,000 issued of additional shares 500,000
Dec. 31, 2020: 460,000 issued and outstanding $4,600,000
Paid-in capital in excess of par
December 31, 2019 $ 1,250,000
Jan. 18 issue 1,120,000
Aug. 20 treasury stock (416,000)
Nov. 5 issue of new shares 1,100,000
December 31, 2020 $3,054,000
Retained Earnings:
December 31, 2019 $800,000
Net income for 2020 100,000
December 31, 2020 $900,000
The ABC Company has recognized the following demand for the next four quarters:
Quarter Demand
1 3000 units
2 4000 units
3 4500 units
4 3500 units
ABC has traditionally used the hiring and firing of workers to accommodate the changes in demand for their products but is considering maintaining a stable workforce and subcontracting production when demand exceeds the capability of the workforce. They currently have 30 workers, each capable of producing 100 units per quarter. It costs them $3000 to hire a worker and $5000 to fire a worker.
If they subcontract the work, it will cost them $30 per unit above their normal production cost. Given this information, should they continue their current practice or move to subcontracting the production over what their current workforce can produce?
Answer: Subcontracting production
Explanation:
It is cheaper for ABC Company to subcontract the jobs than to hire and fire workers as needed. Even though the cost is similar when it comes to hiring permanent workers and training them vs subcontracting them, when the company needs to produce less goods, the cost of firing the permanent employees is simply too much.
For instance, 1,000 units out of the 4,000 units in the second quarter cannot be covered by the 30 workers they have. They will need to hire 10 additional workers and training them would cost $30,000. That is the same cost they would incur if they subcontracted (30 * 1,000 units = $30,000).
What happens in quarter 4 however, when they have to let go of 10 employees because production dropped by 1,000 units? They will have to pay $50,000. If they were subcontracting, they would not have to pay a dime. It is therefore better to subcontract.
Vaughn Manufacturing acquires a coal mine at a cost of $1920000. Intangible development costs total $354000. After extraction has occurred, Vaughn must restore the property (estimated fair value of the obligation is $183000), after which it can be sold for $208000. Vaughn estimates that 5000 tons of coal can be extracted. What is the amount of depletion per ton
Answer:
$452
Explanation:
The amount of depletion per ton is computed below.
= (Acquired cost of coal mine + Intangible development costs + Fair value of the obligation - Sale value) ÷ Number of estimated tons of coal extracted
= ($1,920,000 + $353,000 + $193,000 - $208,000) ÷ 5000
= $452
The amount of depletion per ton is therefore $452
Lewis spends a lot of time socializing while at work. In his interactions with Walid, he constantly asks personal questions and shares information about his family and hobbies. This frustrates Walid who just wants to get his work done. This illustrates ____, one of the intercultural communication challenges in business contexts.
Answer:
task versus relationship priority.
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective.
This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
In this scenario, Lewis spends a lot of time socializing while at work and he constantly asks Walid personal questions and shares information about his family and hobbies. This actions frustrates Walid who is only interested in getting his work done. This illustrates task versus relationship priority, one of the intercultural communication challenges in business contexts.
Using property she inherited, Lei makes a 2020 gift of $16,200,000 to her adult daughter, Doris. Neither Lei nor her husband, Greg, has made any prior taxable gifts. Assuming that a flat 40% tax rate applies, determine the Federal gift tax liability if (a) the election to split gifts is not made and (b) the election to split gifts is made. (c) What are the tax savings from making the election
Answer:
a)$1,842,000
b) $808,500 each
c) $$1,842,000
Explanation:
Worth of Gift made = $16200000
Assuming a Flat rate of 40%
Determine federal gift tax liability
a) When Election to split gift is not made
Taxable gift = $162,000,000 - annual exclusion
= 162,000,000 - 15,000
= $16,185,000
Determine the Gift tax = [ 345800 + ( 16,185,000 - 1,000,000 ) 40% ]
= $6419800
applying values gotten from computing tax table ( Appendix A )
Given that the max credit allowed for 2020 = $4577800
hence Gift tax due = $1,842,000 ( 6419800 - 4577800 )
b) If election to split is made i.e. section 25I3 is elected
Gift tax due = $8,100,000 - $15,000 = $808,500 each ( Greg and Lei
i.e. For Greg and Lei
c) Tax savings made
Tax savings =$1,842,000 ($1,842,000 -$0)
Why do you think it is important to consider both salary and benefits when applying for a job?
From Transaction-Based Marketing to Relationship Marketing: The Paradigm Shift
Answer:
please give me brainlist and follow
Explanation:
Transactional marketing has ignored the implicit financial value of relationship in an exchange process. The underpinning of the argument that relationship marketing is a paradigm shift lies in the interpretations on the differences between transactional marketing and relationship marketing.
On February 24, 2020, Allison's building, with an adjusted basis of $2,986,000 (and used in her trade or business), is destroyed by fire. On March 31, 2020, she receives an insurance reimbursement of $3,881,800 for the loss. Allison invests $3,493,620 in a new building and buys stock with the balance of insurance proceeds. Allison is a calendar year taxpayer. a. By what date must Allison make the new investment to qualify for the nonrecognition election
Answer:
As a calendar-year taxpayer, Allison must make the new investment by December 31, 2020 to qualify for the nonrecognition election.
Explanation:
a) Data and Calculations:
Adjusted basis of building = $2,986,000
Insurance reimbursement = $3,881,800
Gain from loss = $895,800 ($3,881,800 - $2,986,000)
Investment in new building = $3,493,620
Purchase of stock = $388,180 ($3,881,800 - $3,493,620)
b) Allison is expected to make the election for the nonrecognition of the gain from loss in his Federal Tax return in the taxable year in which the gain with respect to the loss of the building is realized. The return must set forth the computation of the gain and other required details.
how could competition policy undo the wrongs of the past and make south africa a better place
Case X: Compute cash received from customers:
Sales $ 515,000
Accounts receivable, December 31, 2013 27,200
Accounts receivable, December 31, 2014 33,600
Case Y: Compute cash paid for rent:
Rent expense $ 139,800
Rent payable, December 31, 2013 7,800
Rent payable, December 31, 2014 6,200
Case Z: Compute cash paid for merchandise:
Cost of goods sold $ 525,000
Merchandise inventory, December 31, 2013 158,600
Accounts payable, December 31, 2013 66,700
Merchandise inventory, December 31, 2014 130,400
Accounts payable, December 31, 2014 82,000
For each of the above three separate cases, use the information provided about the calendar-year 2014 operations of Sahim Company to compute the required cash flow information.
Case X:Cash received from customers
Case Y:Cash paid for rent
Case Z:Cash paid for merchandise
Answer:
Sahim Company
Case X: Cash received from customers = $508,600
Case Y: Cash paid for rent = $141,400
Case Z: Cash paid for merchandise = $481,500
Explanation:
a) Data and Calculations:
Case X: Compute cash received from customers:
Sales $ 515,000
Accounts receivable, December 31, 2013 27,200
Accounts receivable, December 31, 2014 33,600
Case Y: Compute cash paid for rent:
Rent expense $ 139,800
Rent payable, December 31, 2013 7,800
Rent payable, December 31, 2014 6,200
Case Z: Compute cash paid for merchandise:
Cost of goods sold $ 525,000
Merchandise inventory, December 31, 2013 158,600
Accounts payable, December 31, 2013 66,700
Merchandise inventory, December 31, 2014 130,400
Accounts payable, December 31, 2014 82,000
Case X: Cash received from customers:
Accounts receivable
Account Titles Debit Credit
Sales $ 515,000
December 31, 2013 27,200
December 31, 2014 $33,600
Cash received 508,600
Case Y: Cash paid for rent:
Rent Payable
Account Titles Debit Credit
Rent expense $ 139,800
December 31, 2013 7,800
December 31, 2014 $6,200
Cash paid 141,400
Case Z: Cash paid for merchandise:
Cost of goods sold $ 525,000
Merchandise inventory, December 31, 2014 130,400
Merchandise inventory, December 31, 2013 (158,600)
Purchases during 2014 $ 496,800
Accounts payable
Account Titles Debit Credit
December 31, 2013 $66,700
Purchases during 2014 496,800
December 31, 2014 $82,000
Cash paid for merchandise 481,500
Midwest Mfg. uses a balanced scorecard as part of its performance evaluation. The company wants to include information on its sustainability efforts in its balanced scorecard. For each of the sustainability items below, indicate the most likely balanced scorecard perspective it relates to. Label your answers using C (customer), P (internal process), I (innovation and learning), or F (financial). ____________
1. CO2 emissions ____________
2. Number of solar panels installed ____________
3. Gallons of water used ____________
4. Customer surveys of company s sustainability reputation ____________
5. Pounds of recyclable packaging used ____________
6. Pounds of trash diverted from landfill ____________
7. Dollar sales of green products ____________
8. Number of sustainability training workshops held ____________
9. Cubic feet of natural gas used ____________
10. Patents for green products applied for
Answer:
1. CO2 emissions. P (internal process)
Internal processes relate to those sustainability actions that relate to the internal workings and processes of the company such as the technologies and plans they initiate to be more sustainable. Managing CO2 emissions is one of them.
2. Number of solar panels installed P (internal process)
This falls under internal processes as well.
3. Gallons of water used. P (internal process).
Relates to the plans to be more sustainable so is internal process.
4. Customer surveys of company's sustainability reputation. C (Customer)
Customer perspective attempts to find out what the customer thinks about the company and this is very important because it tells the company what to offer customers in order to gain larger market share. Customer surveys fall here.
5. Pounds of recyclable packaging used. P (internal process)
Plans to be more sustainable so internal process.
6. Pounds of trash diverted from landfill. P (internal process)
Company plans to be more sustainable so internal.
7. Dollar sales of green products. F (financial)
Financial perspective deals with everything money. How much is saved and how much is spent and most importantly, what is the profit. This will therefore fall here.
8. Number of sustainability training workshops held. I (innovation and learning).
Innovation and learning focuses on developing the components of a company that drives its growth such as human capital. Training employees ensures that they gain more skills and become more sustainable.
9. Cubic feet of natural gas used. P (internal process)
10. Patents for green products applied for. I (innovation and learning).
This falls under the innovation perspective as it deals with actions taken to improve the capability of the company.
Based on the Marshall Laws of Derived Demand, labor demand is more inelastic when a. workers are making a product that uses a highly labor intensive technology b. workers are making a product with more inelastic demand c. workers are making a product that uses a capital input with elastic supply d. workers are making a product that uses a technology with a fixed labor-capital ratio
Answer:
b
Explanation:
According to Marshall Laws of Derived Demand, labor demand is more inelastic in the following circumstances :
the cost of employing labour constitutes a small proportion of the total cost of production.the demand for the product is relatively inelasticlabour cannot be easily substituted for in the production processwhen the supply of other factors of production is inelasticOn January 1, 2020, UML Inc. began construction of an automated cattle feeder system. The system was finished and ready for use on December 31, 2021. Expenditures on the project were as follows: January 1, 2020 $ 500,000 July 1, 2020 $ 300,000 December 1, 2020 $ 600,000 March 31, 2021 $ 300,000 September 30, 2021 $ 200,000 UML borrowed $600,000 on a construction loan at 8% interest on January 1, 2020. This loan was outstanding throughout the construction period. The company had $2,000,000 in 5% bonds payable outstanding in 2020 and 2021. UML used the specific interest method. Interest capitalized for 2020 was: Multiple Choice $53,000. $56,000. $70,000. $112,000.
Answer:
UML Inc.
The interest capitalized for 2020 was:
= $70,000
Explanation:
a) Data and Calculations:
Date Amount Weight Weighted Average
January 1, 2020 $ 500,000 24/24 $500,000
July 1, 2020 $ 300,000 18/24 225,000
December 1, 2020 $ 600,000 13/24 325,000 $1,050,000
March 31, 2021 $ 300,000 9/24 112,500
September 30, 2021 $ 200,000 3/24 25,000
Total accumulated weighted-average expenditure for 2020 = $1,050,000
Interest capitalized
Construction loan = $600,000 * 8% = $48,000
Part from the bond= $450,000 * 5% = 22,500
= $70,500
g If nominal GDP is $4,000 billion and the amount of money demanded for transactions purposes is $800 billion, it can generally be concluded that Multiple Choice the asset demand for money is $3,200 billion. the total demand for money is $4,800 billion. on average, each dollar will be spent five times a year. the supply of money needs to be increased to meet the demand.
Answer:
on average, each dollar will be spent five times a year.
Explanation:
Based on the information given it can generally be concluded that ON AVERAGE, EACH DOLLAR WILL BE SPENT FIVE TIMES A YEAR reason been that nominal GDP of the amount of $4,000 billion Divided by $800 billion which is the amount of money that was demanded for transactions purposes will give us 5 indicating that on average, each dollar will be spent five times a year.
Calculated as:
nominal GDP /Money demanded
=$4,000 billion/$800 billion
=5
Therefore it can generally be concluded that on average, each dollar will be spent five times a year.
A company's flexible budget for 22,000 units of production showed per unit contribution margin of $3.50 and fixed costs, $38,600. The operating income expected if the company produces and sells 28,000 units is:
Answer:
$59,400
Explanation:
Operating income = Contribution - Fixed Costs
therefore,
At the activity of 28,000 units results will be :
Contribution (28,000 units x $3.50) $98,000
Less Fixed Costs ($38,600)
Operating Income $59,400
Thus,
The operating income expected if the company produces and sells 28,000 units is $59,400
Multiple-Step Income Statement
Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Sauter Office Supplies for the year ended December 31, 20--.
Sales $156,876
Sales Returns and Allowances 2,344
Sales Discounts 4,155
Interest Revenue 419
Merchandise Inventory, January 1, 20-- 27,769
Purchases 112,094
Purchases Returns and Allowances 5,517
Purchases Discounts 2,710
Freight-In 870
Merchandise Inventory, December 31, 20-- 33,028
Wages Expense 27,611
Supplies Expense 744
Phone Expense 888
Utilities Expense 7,988
Insurance Expense 1,294
Depreciation Expense—Equipment 3,809
Miscellaneous Expense 584
Interest Expense 4,692
Answer:
Sauter Office Supplies
Multi-step Income Statement for the year ended December 31, 20--
Net sales $150,377
Cost of goods sold $99,478
Gross profit $50,899
Expenses:
Wages Expense 27,611
Supplies Expense 744
Phone Expense 888
Utilities Expense 7,988
Insurance Expense 1,294
Depreciation Expense 3,809
Miscellaneous Expense 584 $42,918
Operating income $7,981
Interest revenue 419
Interest Expense (4,692)
Income before taxes $3,708
Explanation:
a) Data and Calculations:
Sales $156,876
Sales Returns and Allowances 2,344
Sales Discounts 4,155
Interest Revenue 419
Merchandise Inventory, January 1, 20-- 27,769
Purchases 112,094
Purchases Returns and Allowances 5,517
Purchases Discounts 2,710
Freight-In 870
Merchandise Inventory, December 31, 20-- 33,028
Wages Expense 27,611
Supplies Expense 744
Phone Expense 888
Utilities Expense 7,988
Insurance Expense 1,294
Depreciation Expense—Equipment 3,809
Miscellaneous Expense 584
Interest Expense 4,692
Sales $156,876
Sales Returns and Allowances (2,344)
Sales Discounts (4,155)
Net sales $150,377
Cost of goods sold:
Merchandise Inventory, January 1, 20-- 27,769
Purchases 112,094
Purchases Returns and Allowances (5,517)
Purchases Discounts (2,710)
Freight-In 870
Merchandise Inventory, December 31, 20-- (33,028)
Cost of goods sold $99,478