Answer:
$12,400
Explanation:
Cash flows from financing activities Amount
Cash provided from long-term borrowing $66,000.
Cash used to repay a portion of the -$43,000
long-term borrowing in d. above
Purchase of company vehicle, paying -$10,600
Net cash used in financing activities $12,400
Atlas Long-Haul Transportation is considering installing Valutemp temperature loggers in all of its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $100,000 in each of the next 2 years, how much should the company be willing to spend now if it uses an interest rate of 12% per year
Answer:
The amount the company should be willing to spend now is $169,005.10.
Explanation:
This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV = Present value or the amount the company should be willing to spend now =?
P = Annual insurance claim = $100,000
r = Interest rate = 12%, or 0.12
n = number of years = 2
Substitute the values into equation (1) to have:
PV = $100,000 * ((1 - (1 / (1 + 0.12))^2) / 0.12)
PV = $100,000 * 1.69005102040816
PV = $169,005.10
Therefore, the amount the company should be willing to spend now is $169,005.10.
Skysong, Inc.'s net income for the current year was $394000. Depreciation was $51000. Accounts receivable and inventories decreased by $16000 and $26000, respectively. Prepaid expenses and salaries payable increased, respectively, by $2000 and $13000. Equipment was sold at a gain of $7400. How much cash was provided by operating activities
Answer:
Skysong, Inc.
Cash provided by operating activities =
$502,000
Explanation:
a) Data and Calculations:
Net income = $394,000
Depreciation 51,000
operating cash $445,000
Net working capital:
Accounts receivable $16,000
Inventory 26,000
Prepaid expenses 2,000
Salaries payable 13,000 57,000
Net cash from operating $502,000
b) The operating activities section of Skysong's cash flows statement depicts the ability of the company to generate cash from its main business activities. The net cash from operating activities is determined by adjusting its net income with non-cash flows (e.g. depreciation expenses) and working capital changes. A decrease in the current assets represents a source of operating cash, just as an increase in the current liabilities also represents a source of operating cash.
When the government subsidizes investment, such as with an investment tax credit, the subsidy often applies to only some types of investment. This question asks you to consider the effect of such a change. Suppose there are two types of investment in the economy: business investment and residential investment. The interest rate adjusts to equilibrate national saving and total investment, which is the sum of business investment and residential investment. Now suppose that the government institutes an investment tax credit only for business investment. a. How does this policy affect the demand curve for business investment
Answer:
The demand curve for business investment will shift upwards to the right, signaling an increased demand for business investment.
Investors will be attracted to invest more in business investment than they will invest in residential apartments. This is how it has worked.
Explanation:
An economy's business investment includes the investments in the machines, tools, and equipment that business entities need for the production of goods and services. On the other hand, its residential investment refers to the expenditure made for constructing or buying new houses or dwelling apartments for the purpose of living or renting out to others. If the government grants some tax credit to business investment, it will make business more attractive to the investing public.
Answer both parts of the following question. a. The San Francisco Chronicle reported that the toll on the Golden Gate Bridge was raised from $2 to $3. Following the toll increase, traffic fell by 5 percent. Based on this information, calculate the arc price elasticity of demand. Is demand elastic or inelastic
Answer:
The answer is "0.1".
Explanation:
Formula:
[tex]\text{Elasticity}= \frac{\% \text{volume changes in demand}}{ \% \text{price rise}}[/tex]
Calculating the value of price percent:
[tex]= \frac{(3-2)}{2} \times 100 \\\\= \frac{1}{2} \times 100 \\\\= \frac{100}{2} \\\\=50 \%[/tex]
Calculating the value of quantity change: [tex]= -5 \%[/tex]
Calculating the value of elasticity:
[tex]= \frac{-5}{50} \\\\ = \frac{-1}{10} \\\\= -0.1[/tex]
Through this convention, the environmental signal is decreased and elasticity =0.1 is achieved until conductivity. Whose comparatively in elasticity is not as high as 1.
An investment offers $6,260 per year for 17 years, with the first payment occurring 11 years from now. If the required return is 3 percent, what is the value of the investment? (HINT: Remember that when you calculate the PV of the annuity, the claculator gives you the present value of the annuity 1 period before the annuity starts. So if the annuity starts in year 7, that calculator will to give you the persent value of annuity in year 6. Now you have to bring this number to period 0 by inputting: N=6 (1 period before the annuity starts, in your case it would be a different number depending when your annuity starts) R=3 FV=Present value of annuity you found in step 1. And you solve for PV)
Answer: $61,328.15
Explanation:
The amount paid is per year so this is an annuity. It will begin 11 years from now so one should find the present value in that year:
Present Value of annuity = Annuity * ( 1 - ( 1 + rate) ^ - no. of periods) / rate
= 6,260 * ( 1 - ( 1 + 3%) ⁻¹⁷) / 3%
= $82,419.90
That is the present value if the annuity starts 11 years from now which means that it is the present value 10 years from now (ordinary annuities are paid end of period).
You need to discount to current period:
= 82,419.90 / ( 1 + 3%)¹⁰
= $61,328.15
Determine how much interest expense the company will include in the income statements and the amount of the liability the company will report in the balance sheets for this note for 2021 and 2022. (Do not round intermediate calculations. Round your answers to the nearest whole dollars.) 2021 2022 Interest expense $2,904 $3,252 Liability amount $27,104 $23,852
Answer:
To find the interest expense, first get the present value of the note.
2021 interest 2022 Interest
Present value = 35,000 / (1 + 12%)³ = 12% * (24,912 + 2,989)
= $24,912 = $3,348
2021 interest is added because
Interest = 12% * 24,912 it is now part of the liabilities.
= $2,989
2021 Liability
= Present value of Note payable + Interest for the year
= 24,912 + 2,989
= $27,901
2022 Liability
= 27,901 + 3,348
= $31,249
Figures are different from yours as yours lacks the complete details so I used a similar question.
The interest expense in the income statements and the liability amount for the balance sheets for this note for 2021 and 2022 are:$2,904 and $27,104 for 2021$3,252 and $23,852 for 2022
Interest Expense for 2021:
$2,904 Interest Expense for 2022: $3,
252 Liability Amount for 2021: $27,
104 Liability Amount for 2022: $23,852
We know that;Interest = Principal × Rate × Time Where,
Interest = Interest Expense Principal = Liability Amount Rate = Rate of Interest per year Time = Time in years Let the Principal amount for this note be P.
The interest rate is not provided in the question but is required for calculating the Principal.
Hence, we will use the following formula to calculate the interest rate:
Interest = Principal × Rate × Time Rate = Interest / (Principal × Time)
Substituting the values;
For 2021:Interest = $2,904
Principal = $27,104
Time = 1 year
Rate = 2904 / (27104 × 1)
Rate = 0.107 or 10.7% (approx)
Therefore, the Principal amount is:
P = Liability Amount - 150 (transaction fees)
P = $27,104 - $150P = $26,954
The interest expense for 2021 can now be calculated as:
Interest Expense = Principal × Rate
Interest Expense = $26,954 × 0.107
Interest Expense = $2,890 (approx)
The liability amount for 2022 can be calculated by subtracting the Principal repaid from the Liability Amount in 2021.
The Principal repaid can be calculated by subtracting the interest expense in 2021 from the total payment made in 2021.
Total Payment in 2021 = Interest Expense + Principal repaid Total Payment in 2021 = $2,904 + Principal repaid
Let the Principal repaid in 2021 be p.
P + Interest - 150 = Total Payment in 202 1 P + $2,904 - 150 = $27,104 P = $24,350
Therefore, the Principal repaid in 2021 = $24,350 - $150 = $24,200
The Liability Amount for 2022 can now be calculated as:
Liability Amount for 2022 = Liability Amount in 2021 - Principal repaid in 2021 Liability Amount for 2022 = $27,104 - $24,200 Liability Amount for 2022 = $2,904
The Principal for the note in 2022 can be calculated as follows:
P = Liability Amount - 150
P = $23,852 - $150
P = $23,702
Now, the interest expense for 2022 can be calculated as:
Interest Expense = Principal × Rate
Interest Expense = $23,702 × 0.137
Interest Expense = $3,250 (approx)
Therefore, the interest expense in the income statements and the liability amount for the balance sheets for this note for 2021 and 2022 are:$2,904 and $27,104 for 2021$3,252 and $23,852 for 2022
learn more about on income statements
https://brainly.com/question/15169974
#SPJ11
There are a number of statistics computed to measure the price level, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question in which you are interested. For each of the following situations, state whether the CPI or GDP deflator is a more appropriate measure to use and explain why the statistic is preferred.
Question Completion:
a. You are interested in looking at the impact of higher prices of imported oil in the overall cost of living.
b. The government is interested in whether increases in defense spending are affecting the price level.
c. An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.
Answer:
The GDP Deflator and the CPI
a. The CPI is used here, as its measure is not restricted to domestically produced goods and services.
b. The GDP Deflator is more appropriate here. Defense spending is not related to consumer goods and services but to government spending, which is a component of the GDP.
c. The GDP Deflator is more appropriate with this investigation. Computers and electronic technology used in production relate to business Investments, which are a component of the GDP and are not part of consumer goods and services or a component of the CPI.
Explanation:
The GDP deflator is exclusively used to measure the prices of all goods and services produced domestically in an economy and is based on the nominal or real GDP. On the other hand, the CPI (Consumer Price Index) is used to measure the weighted average prices of a basket of consumer goods and services, whether produced domestically or imported.
Rousey, Inc., had a cash flow to creditors of $16,380 and a cash flow to stockholders of $6,740 over the past year. The company also had net fixed assets of $49,380 at the beginning of the year and $56,740 at the end of the year. Additionally, the company had a depreciation expense of $11,940 and an operating cash flow of $50,265. What was the change in net working capital during the year?
Answer:
$7,845
Explanation:
Calculation for What was the change in net working capital during the year
First step is to calculate the Cash flow from assets
Cash flow from assets = $16,380 + 6,740
Cash flow from assets= $23,120
Second step is to calculate the Net capital spending
Net capital spending = $56,740 − 49,380 + 11,940
Net capital spending = $19,300
Now let calculate the Change in net working capital
Change in net working capital = $50,265 − 19,300 − 23,120
Change in net working capital= $7,845
Therefore the change in net working capital during the year will be $7,845
James has earned his doctorate in kinesiology and gone on several job interviews. He has been offered positions at different universities. James is planning to move out of state next year, so his primary factor for consideration is that he not be tied down to a long-term commitment. Which option would work the best for him?
a tenure-track position as an assistant professor at a liberal-arts college
a position as an adjunct professor at a technical college
The director of a community athletic center
a postdoctoral fellow at a university
The weight of a product is normally distributed with a standard deviation of 0.5 grams. If the production manager wants no more than 5% of the products to weigh more than 5.1 grams, then the average weight should be _____.
Answer:
4.28 grams
Explanation:
The z score is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by the formula:
[tex]z=\frac{x-\mu}{\sigma} \\\\where\ \mu=mean,\sigma=standard \ deviation,\ x=raw\ score[/tex]
Given that:
P(x > 5.1 grams) = 5%, x = 5.1 grams, σ = 0.5 grams
P(x > 5.1 grams) = 5%
P(x < 5.1 grams) = 100% - 5% = 95%
P(x < 5.1) = 95%
From the normal distribution table, 95% corresponds with a z score of 1.645. Hence:
[tex]1.64=\frac{5.1-\mu}{0.5}\\\\5.1-\mu=0.82\\\\\mu=4.28\ grams[/tex]
Eaton Tool Company has fixed costs of $407,400, sells its units for $90, and has variable costs of $48 per unit. a. Compute the break-even point. b. Ms. Eaton comes up with a new plan to cut fixed costs to $320,000. However, more labor will now be required, which will increase variable costs per unit to $51. The sales price will remain at $90. What is the new break-even point
Answer and Explanation:
The computation of the break even point is given below
As we know that
Break even point is
= (Fixed cost) ÷ (Selling price per unit - variable cost per unit)
a. Break even point is
= ($407,400) ÷ ($90 - $48)
= 9,700 units
b. The break even point is
= ($320,000) ÷ ($90 - $51)
= 8,205 units
use a large percentage of their checkable deposits for the purpose of __________.
A.
paying interest
B.
giving loans
C.
employee salaries
D.
maintaining reserves
the answer is D
Answer:
B. giving loans
Explanation:
Banks use a large proposition of their deposits to create loans for other customers. The federal reserve requires commercial banks to hold a small percentage of deposits as reserves. The reserve requirement is one of the monetary policy tools of the Federal Reserve.
In most cases, the reserve requirement is around 10 percent or below of the total deposits. As a fraction, 10 Percent is a tenth (1/10), which is a small proportion of the total deposits. The bigger percentage, 90 percent, is used to create loans to other customers.
Harrison Company's general ledger account had a balance of $7,300 on July 31 and the following information is also available: Deposits outsanding $ 1,500 Checks outstanding 2,000 NSF checks 45 A $35 July deposit from a customer was recorded as $53 debit to Cash and credit to Accounts Receivable What is the amount of Harrison's correctd cash balance at July 31
Answer:
See below
Explanation:
The above is an incomplete question. However, the below is a similar question to complement it.
Balance July 1, $55,678
Deposits $179,500
Checks processed ($192,610)
Service charges ($30)
NSF checks ($1,200)
Monthly loan repayment deducted directly by the banks from account includes ($320) in interest. ($3,320)
With regards to the above, the corrected cash balance is computer as;
Balance per books
$7,300
Less:
Error in recording receipts ($53 - $35)
($18)
Less;
NSF charges
($1,200)
Less:
Automatic monthly loan payment
($3,320)
Less:
Service charge
($30)
Corrected cash balance
$2,732
Dedrick Inc. did not pay dividends in 2018 or 2019, even though 60,000 shares of its 7.5%, $50 par value cumulative preferred stock were outstanding during those years. The company has 900,000 shares of $2 par value common stock outstanding. Required: Calculate the annual dividend per share obligation on the preferred stock. (Round your answer to 2 decimal places.) Calculate the amount that would be received by an investor who has owned 3,100 shares of preferred stock and 29,000 shares of common stock since 2017 if a $0.40 per share dividend on the common stock is paid at the end of 2020. (Do not round intermediate calculations.)
Answer:
no hablo tacka tacka
Explanation:
tacka tacka gracias
A shoe company will make a new type of shoe. The fixed cost for the production will be $24,000. The variable cost will be $31 per pair of shoes. The shoes will sell for $100 for each pair. How many pairs of shoes will have to be sold for the company to break even on this new line of shoes
Answer:
Break-even point in units= 348
Explanation:
Giving the following information:
The fixed cost for the production will be $24,000. The variable cost will be $31 per pair of shoes. The shoes will sell for $100 for each pair.
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 24,000 / (100 - 31)
Break-even point in units= 347.82 = 348
Experience indicates that strategic alliances Multiple Choice have a high "divorce rate." are generally successful. work well in cooperatively developing new technologies and new products but seldom work well in promoting greater supply chain efficiency. work best when they are aimed at achieving a mutually beneficial competitive advantage for the allies. are rarely useful in helping a company win the race for global industry leadership and establish positions in industries of the future.
Answer:
have a high "divorce rate."
Explanation:
A strategic alliance can as well reffered to as strategic partnership and can be regarded as agreement that exist between two parties or more so that they can work in acheiving some objectives they agreed on even though they still remains as an independent organization to each other. It should be noted that Experience indicates that strategic alliances have a high "divorce rate."
International monetary analysis focuses on Group of answer choices the international trade side of the international economy. the real side of the international economy. the issues of international cooperation between Central Banks. the monetary side of the international economy, such as currency exchange. the international investment side of the international economy.
Answer:
the monetary side of the international economy, such as currency exchange.
Explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
An exchange rate can be defined as a number used to represent the value of one country's currency in comparison to another.
International monetary analysis focuses on the monetary side of the international economy, such as currency exchange.
The classic supply chain approach has been based on
forecasting which of the following parts of future
inventory using statistical trending?
Transfer
Demand
olololo
Lifecycle
Safety stock
Answer:
Demand
Explanation:
The classic supply chain approach statistics refers to data regarding past suppliers or sales through the distribution channels. A business can use this information to analyze sales trends. Once the sale trends are determined, future demand for products can be estimated. The business uses historical data from its supply chain to predict future sales and demand.
You are considering an investment of $10,000 in a mutual fund with a 2% front load and an annual expense ratio of 0.5%. You are also considering an investment in a bank CD paying 2% interest per year. Assuming risk is constant across the two investments, if you plan to invest for four years, what annual rate of return must the mutual fund earn for you to be better off in the mutual fund than in the bank CD
Answer:
r > 3.02%
Explanation:
Mutual fund wealth index after N years = (1+front load)*(1+r-expenses)^N
CD wealth index after N years = (1+rate)N
If investment is 4 years
(1+0.02)*(1+r-0.005)^4 = (1+0.02)^4
0.98*(1+r-0.005)^4 = 1.08243216
(1+r-0.005)^4 = 1.08243216/0.98
(1+r-0.005)^4 = 1.10452261
Taking 4th root both side
(1+r-0.005) = 1.10452261^(1/4)
1 + r - 0.005 = 1.02516472
r = 1.02516472 - 1 + 0.005
r = 0.03016472
r = 3.02%, r > 3.02%
On July 1, 2019, Goode Company borrowed $150,000. The company signed a note payable with interest at 8 percent per year. The note and interest are due on December 31, 2019. On December 31, 2019, Goode paid $156,000 to settle the debt in full. Assuming no accruals for interest have been made during the year, transaction analysis of the $156,000 cash payment on December 31, 2019 should reflect which of the following?a) A decrease in stockholders' equity of $150,000, a decrease in liabilities of $6,000, and a decrease in assets of $156,000.b) A decrease in assets of $150,000, a decrease in stockholders' equity of $6,000, and a decrease in liabilities of $156,000.c) A decrease in liabilities of $150,000, a decrease in stockholders' equity of $6,000, and a decrease in assets of $156,000.d) A decrease in assets of $156,000 and a decrease in liabilities of $156,000.
Answer:
C. decrease in liabilities of $150,000, a decrease in stockholders' equity of $6,000, and a decrease in assets of $156,000
Explanation:
Calculation for what cash payment on December 31, 2019 should reflect
Dec-31
Dr Note payable $150,000 (Decrease liability)
Dr Interest expense 6,000
( 150,000*8%*1/2) (Decrease stockholders equity)
Cr Cash $156,000 (Decrease assets)
($150,000+$6,000)
Therefore cash payment on December 31, 2019 should reflect decrease in liabilities of $150,000, a decrease in stockholders' equity of $6,000, and a decrease in assets of $156,000.
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs. Beginning inventory consisted of $7,000 in materials and $4,000 in conversion costs. April costs were $36,000 for materials and $40,000 for conversion costs. Ending inventory still in process was 4,000 units (100% complete for materials, 50% for conversion). The equivalent cost per unit for materials using the FIFO method would be closest to:
Answer:
$3
Explanation:
The computation of the equivalent cost per unit for materials using the FIFO method is shown below:
= Materials cost ÷ equivalent units in materials
= $36,000 ÷ 12,000 units
= $3
hence, the equivalent cost per unit for materials using the FIFO method is $3
) You are a manager for a large company that sells products and sources materials internationally. A new competitor has entered the market. It had been determined that to differentiate your company from similar companies, you will need to start competing on sustainability as well. What does sustainability mean to your firm, and what might you look to implement in the future
Explanation:
Companies are entities that can cause potential damage to the environment, by using scarce natural resources and by the way of production, which can release pollutants into the atmosphere, etc.
Organizational sustainability, therefore, means joining the organization's efforts to reduce its negative environmental impacts and protect the location in which the company operates.
A good option for companies that want to implement sustainability in their processes is to look for environmental certifications that provide specific requirements and policies for companies to reduce their impacts and generate continuous improvement, such as the implementation of an Environmental Management System.
Corporate sustainability can mean long - term strategic and competitive advantages such as reducing waste, increasing the company 's value and reliability, attracting investors, satisfying stakeholders, etc.
On January 1, Year 1, Justo purchases 30,000 shares of the 100,000 outstanding shares of stock in Bonita Corp. for $5 per share. During the year, Bonita Corporation has $20,000 of net income and pays $4,000 in dividends. On December 31, Year 1, the value of a share of Bonita Corporation stock is $6 per share. Assuming Justo elects the fair value option to account for its investment in Bonita, what is the amount recorded as Investment in Bonita on the December 31, Year 1, balance sheet
Answer:
$180,000
Explanation:
The computation of the amount recorded as investment on the Dec 31, year 1 as follows
As the investment should be recorded at the fair value i.e.
= 30,000 shares × $6
= $180,000
Plus the amount of $30,000 that represent the unrealized gain would be recorded as the earnings for the given period
Insurance is a financial service that allows
Answer:
allows a consumer to transfer risk to a company.
Explanation:
Why is the United States concerned about China’s devaluation of the yuan?
Answer:
a stronger dollar cuts into inflation in the United States, and it might force the fed to cut interest rates by more than it would otherwise to sustain its desired pace of growth and price gains.
Explanation:
Flax Corp. uses the direct method to prepare its Statement of Cash Flows. Flax's trial balances at December 31, 20X4 and 20X3, are as follows: December 31 20X4 20X3 Debits: 33,000 30,000 Cash $35,000 $32,000 Accounts receivable 33,000 30,000 Inventory 31,000 47,000 Property, plant, & equipment 100,000 95,000 Unamortized bond discount 4,500 5,000 Cost of goods sold 250,000 380,000 Selling expenses 141,500 172,000 General & administrative expenses 137,000 151,300 Interest expense 4,300 2,600 Income tax expense 20,400 61,200 $756,700 $976,100 Credits: Allowance for uncollectible accounts $1,300 $1,100 Accumulated depreciation 16,500 15,000 Trade accounts payable 25,000 17,500 Income taxes payable 21,000 27,100 Deferred income taxes 5,300 4,600 8% callable bonds payable 45,000 20,000 Common stock 50,000 40,000 Additional paid-in capital 9,100 7,500 Retained earnings 44,700 64,600 Sales 538,800 778,700 $756,700 $976,100 Flax purchased $5,000 in equipment during 20X4. Flax allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. What amounts should Flax report in its Statement of Cash Flows for the year ended December 31, 20X4, for cash paid for goods to be sold?
Answer:
the cash paid for goods to be sold is $226,500
Explanation:
The computation of the cash paid for goods to be sold is shown below:
= Cost of goods sold + Opening trade account payable - closing trade account payable + closing inventory - beginning inventory
= $250,000 + $17,500 - $25,000 + $31,000 - $47,000
= $226,500
Hence, the cash paid for goods to be sold is $226,500
Act Now!, an organization devoted to voting rights, applied for a permit to protest the closing of polling places in poor neighborhoods. Genevieve, the head of the organization, wanted the protest to be on the lawn of the county courthouse. The county denied the permit on grounds that it would prevent people from accessing the courthouse. If Act Now! challenges this action in court, it will be reviewed by the judge using:___________
a) strict scrutiny.
b) rational basis scrutiny.
c) intermediate scrutiny.
d) no particular form of scrutiny (none is required in this situation)
Answer:
c) intermediate scrutiny.
Explanation:
In this particular scenario this will be reviewed by the judge using intermediate scrutiny. In this review the court will decide whether or not the case helps the government and/or the people in any way. The court case interests must further the interests of the government or people in the same way for it to pass the review. If the court case passes the review it will be reassessed and may be voted upon differently depending on the other details at hand.
Jane James owns an appliance store. She normally receives $50,000 worth of appliances per month. She does not like to owe people money and always pays her bills on the day she receives the invoice. Someone told her that if she delayed payment, she could actually increase her profit because the money would be earning interest in her account. She went through her bills and found that she actually had an additional ten days, on average to pay her invoices. She also found that she was earning 5 percent interest on the money she had in her money market savings account. If she delayed payment by ten days, how much additional interest would she earn for the year
Answer:
The correct answer is "$820".
Explanation:
Whenever she delays compensation by 10 days a month (even though she receives monthly invoices), she will indeed earn interest for something like a combined amount of 120 days (10 days x 12 months) again for full year of 365 days.
The interest earned will be:
⇒ [tex]50000\times 5 \ percent\times \frac{120}{365}[/tex]
⇒ [tex]50000\times 0.05\times 0.328[/tex]
⇒ [tex]820[/tex] ($)
The Canon Corporation sells ten copiers to the Title Company on October 15 for $40,000. Canon delivers the copiers to Title on October 20 and Title pays $16,000, agreeing to pay the balance on November 10. Under the cash basis, how much revenue should Canon recognize in October
Answer:
$16,000
Explanation:
Under the cash basis, the revenue is recognized when the cash is received and the expenses is recognized when the cash is paid
So according to the question since the $16,000 is paid so the revenue that should be recognized in the October month is $16,000
Therefore the same would be considered
Department E had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $12,500.During the period, 14,000 units of direct materials were added at a cost of $28,700, and 15,000 units were completed.At the end of the period, 3,000 units were 75% completed.All materials are added at the beginning of the process.Direct labor was $32,450 and factory overhead was $18,710.The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:________.
A. 14,850B. 14,650C. 15,650D. 14,150
Answer:
C. 15,650
Explanation:
Calculation for what The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:
First step is to calculate the Unit transferred out
Unit transferred out = 4,000+14,000-3,000
Unit transferred out = 15,000
Now let calculate Equivalent unit of conversion
Equivalent unit of conversion = (4,000*60%)+11,000+(3,000*75%)
Equivalent unit of conversion =15,650
Therefore the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:15,650