The four conditions (mutual exclusion, hold and wait, no preemption and circular wait) are necessary for a resource deadlock to occur. Give an example to show that these conditions are not sufficient for a resource deadlock to occur. When are these conditions sufficient for a resource deadlock to occur

Answers

Answer 1

Explanation:

The conditions sufficient for a resource deadlock to occur is when a  deadlock will  prevail for process A, B, and C when two resources R and S; if only one instance of each resources is allowed.

Solution

Deadlock conditions

A deadlock is a situation where two or more processes request for same critical resource at the same time.

The mutual exclusion applies a restriction to a resource when the resource is used by any process, it should become unavailable for the other resources

The hold and wait allocations explains that any process which is allocate resources must hold them; till all needed resources are nor sure.

In the meantime, if any other processes need a resource which is held by another process, then the latter will release the resource to prevent deadlock.

No pre-emption states that the operating system can grant access to resources to another process while it is in use by another process; depending on the priority , to prevent deadlock.

Circular wait should not be implemented so that resources being requested by process are allocated when they get free.

Now,

Three processes A, B, and C functions on a system, having two distinct resources R and S.

The resource  R has one instant active while resource S has two instances available.

The instance of R is allocated to a process A after request. first instance of resource S is allocated to process B, and second instance of resource S is allocated to process C.

When a request is placed by process B for resource R, then the resource is not available for execution. the process A request for resource S which is used by both C and B.

All the four conditions prevail in this situation; yet deadlock does not occur.

The resource S is released by process C and is allocated to process A. when process A finishes, it releases resources and resources R is allocate d to process B.

Hence all three processes end without a deadlock.

However, the deadlock will prevail for process A, B, and C when two resources R and S; if only one instance of each resources is allowed.


Related Questions

Calculate the times interest earned ratio using the financial statement data shown below. Current liabilities $185 Income before interest and taxes $170 10% Bonds, long-term 360 Interest expense 36 Total liabilities 545 Income before tax 134 Stockholders' equity Income tax 29 Common stock 222 Net income $105 Retained earnings 289 Total stockholders' equity 511 Total liabilities and equity $1,056HHF's times interest earned ratio is:______.a. 10.00.b. 3.14.c. 1.54.d. 2.14.Current liabilities $180 Income before interest and taxes $11810% Bonds, long-term 360 Interest expense 36Total liabilities 540 Income before tax 82Shareholders' equity Income tax 20Capital stock 201 Net income $62Retained earnings 283Total shareholders'equity 484Total liabilities and equity $1,024HHF's debt to equity ratio is:________.a. 0.74.b. 0.56.c. 1.12.d. 1.90.

Answers

Answer:

1. Times interest earned ratio is 4.72

2. Debt to equity ratio is 1.12. Option C

Explanation:

Current liabilities = $185

Income before interest and taxes = $170

10% Bonds, long-term = $360

Interest expense = $36

Total liabilities = $545

Income before tax = $134

Stockholders' equity Income tax = $29

Common stock = $222

Net income = $105

Retained earnings = $289

Total stockholders' equity = $511

Total liabilities and equity = $1,056

1. Times interest earned ratio = Earnings before interest and taxes/Interest expenses

= $170 ÷ $36

= 4.72

Current liabilities = $180

Income before interest and taxes = $118

10% Bonds, long-term = $360

Interest expense = $36

Total liabilities = $540

Income before tax = $82

Shareholders' equity Income tax = $20

Capital stock 201 Net income = $62

Retained earnings = $283

Total shareholders'equity = $484

Total liabilities and equity = $1,024

2. Debt to equity ratio = Total debt ÷ Total equity

= 540 ÷ 484

= 1.12

The Sunland Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $80 a night. Operating costs are as follows:

Salaries $5,400 per month
Utilities $1,200 per month
Depreciation $1,100 per month
Maintenance $2,140 per month
Maid service $19 per room
Other costs $37 per room

Required:
a. Determine the inn's break-even point in number of rented rooms per month.
b. Determine the inn's break-even point in dollars.

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

The inn has 50 rooms that it rents at $80 a night.

Operating costs are as follows:

Salaries $5,400 per month

Utilities $1,200 per month

Depreciation $1,100 per month

Maintenance $2,140 per month

Maid service $19 per room

Other costs $37 per room

We won't take into account the depreciation expense because it is not a cash disbursement.

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

Fixed costs= 5,400 + 1,200 + 2,140= $8,740

Variable cost= 19 + 37= $56

Break-even point in units= 8,740 / (80 - 56)

Break-even point in units= 364 rented rooms

To calculate the break-even point in dollars, we need to use the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 8,740 / (24/80)

Break-even point (dollars)= $29,133

One person owns a company's bond, and another owns a share of stock. The company makes a profit of $50 during a certain year. The bondholder is owed a coupon payment of $50, and the stockholder is promised a dividend of $50.

Which of the following is the likeliest outcome of this situation?

a) The bondholder is paid $50

b) The stockholder is paid $50

c) Each investor is paid $25

d) The company keeps the $50 as retained earnings

e) None of these outcomes are likely to happen

2) Assume you bought a share of stock a year ago at a certain price, and today you need the money, so are forced to sell it even though the price has decreased.

Which of the following statements is true?

a) The stock's dividend yield is negative.

b) The stock's dividend yield is positive.

c) The stock's capital gains yield is negative.

d) The stock's capital gains yield is positive.

e) The stock's current yield is negative.

Answers

Answer:

The correct option for the first question is A,the bondholder is paid $50

The correct option for the second question is C,the stock's capital gains yield is negative

Explanation:

The company has to pay the $50 owed to bondholder as payment of coupon payment takes precedence over payment of dividends.

It would be inappropriate to keep the $50 in retained earnings since there is a covenant in the agreement signed with bondholders that their coupon payment annually is mandatory.

The correct answer to the second question is that the stock's capital gains yield is negative.

Capital gains yield =the price now(which is lower)-original price/original price

Since the numerator would give a negative figure,overall yield is negative

The Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for the month ended December 31 is as follows:

Sales salaries $819,840
System administration salaries 448,152.00
Customer service salaries 152,600.00
Billing salaries 98,760.00
Maintenance 271,104.00
Depreciation of plant and equipment 92,232.00
Insurance and property taxes 41,280.00
Total $1,923,968.00

During December, the costs incurred in the Eastern District were as follows:

Sales salaries $818,880.00
System administration salaries 447,720.00
Customer service salaries 183,120.00
Billing salaries 98,100.00
Maintenance 273,000.00
Depreciation of plant and equipment 92,232.00
Insurance and property taxes 41,400.00
Total $1,954,452.00

Required:
Prepare a budget performance report for the manager of the Eastern District of Adelson for the month of December.

Answers

Answer:

                         Eastern District: Adelson Inc.

                         Budget Performance Report

                   For the Year Ended December 31, XX

                                             Actual               Static             Variance

                                             results              budget                          

Sales salaries                       $818,880       $819,840              -$960

System adm. salaries          $447,720       $448,152               -$432

Customer service salaries   $183,120       $152,600          $30,520

Billing salaries                        $98,100        $98,760               -$660

Maintenance                       $273,000         $271,104             $1,896

Depreciation of P & E           $92,232         $92,232                    $0

Insurance and prop. taxes    $41,400          $41,280                $120

Total                                  $1,954,452       $1,923,968       $30,484  

Explanation:

A budget performance report shows how the actual costs and/or revenues perform according to the planned budget. A negative sign on the variance column shows a favorable variance (lower costs or higher revenues), while a positive sign shows an unfavorable variance (higher costs or lower revenues).

Assume that Kish Inc. hired you as a consultant to help estimate its cost of capital. You have obtained the following data: D0 = $0.90; P0 = $27.50; and g = 7.00% (constant). Based on the DCF approach, what is the cost of equity from retained earnings?

Answers

Answer:

The cost of equity from retained earnings based on the DCF approach is 10.50%

Explanation:

In order to calculate the cost of equity from retained earnings based on the DCF approach we would have to calculate the following formula:

Cost of Equity = (D1/P0) + growth rate

Cost of Equity =[($0.9 x 1.07)/$27.50] + 0.07

Cost of Equity = 0.1050

Cost of Equity =10.50%

Therefore, The cost of equity from retained earnings based on the DCF approach is 10.50%

A manufacturing plant is planning to replace outdated equipment with more energy-efficient and environmental-friendly equipment. Two models are under consideration. Model A is sold for $159,000 and can produce at an optimum speed of 78 unit/hour. Model B is sold for the same price, but can produce at an optimum speed of 76 unit/hour. Model A requires 6 hours of maintenance for every 4300 units produced, while Model B requires 5 hours of maintenance for every 3300 units. The maintenance cost for both models is $100 per hour. The variable operating cost is $340 per hour for Model A and $290 per hour for Model B. Due to obsolete parts, there is a sunk cost of $2700 for model A and $1900 for Model B .
1. If the price of the product is $150 per unit and the company expects to sell 145,000 units each year, which model should be selected?
2. What is the estimate of the cummulative average hours per unit required to produce the 5th unit of a production run that has a(n) 78% learning curve, if the first unit takes 50 hours?

Answers

Answer:1.  Model A,

2. 33 hours

Explanation:

Cash flows of two mutually exclusive projects are as follows. Project A costs $80,000 initially and will have a $15,000 salvage value after 3 years. The operating cost with this method will be $30,000 per year. Project B has initial cost of $120,000, an operating cost of $8,000 per year, and a $40,000 salvage value after its 3-year life. Assume the interest rate is 10% per year. Which of the following statements is true?A. Two projects have different life cycleB. Project A should be selected.C. The present worth of project A is -$143,252.17.D. The present worth of project B is -$109,842.22.

Answers

Answer:

C. The present worth of project A is -$143,252.17

Explanation:

Present worth can be calculated using a financial calculator

For method A ,

Cash flow in year 0 = $80,000

Cash flow in year 1 and 2 = $30,000

Cash flow in year 3 = $30,000 - $15,000 = $15,000

I = 10%

Present worth= $ 143,335.84

For method B,

Cash flow in year 0 = $120,000

Cash flow in year 1 and 2 = $8, 000

Cash flow in year 3 = $8,000 - $40,000 = $-32,000

I = 10%

Present worth = $130,157.78

Method b would is chosen because it worth less.

To find the present worth using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

Blank Corporation acquired 100 percent of Faith Corporation’s common stock on December 31, 20X2, for $150,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:
Item Blank Corporation Faith Corporation
Assets
Cash $ 65,000 $ 18,000
Accounts Receivable 87,000 37,000
Inventory 110,000 60,000
Buildings & Equipment (net) 220,000 150,000
Investment in Faith Corporation Stock 150,000
Total Assets $ 632,000 $ 265,000
Liabilities and Stockholders’ Equity
Accounts Payable $ 92,000 $ 35,000
Notes Payable 150,000 80,000
Common Stock 100,000 60,000
Retained Earnings 290,000 90,000
Total Liabilities & Stockholders’ Equity $ 632,000 $ 265,000
At the date of the business combination, the book values of Faith’s net assets and liabilities approximated fair value. Assume that Faith Corporation’s accumulated depreciation on buildings and equipment on the acquisition date was $30,000.
Required:
a. Give the consolidation entry or entries needed to prepare a consolidated balance sheet immediately following the business combination. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
b. Prepare a consolidated balance sheet worksheet. (Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.)

Answers

Answer:

A1.

Dr Investment 150,000

Cr Cash 150,000

2.

Dr Accumulated Depreciation 30,000

Cr Building & Equipment 30,000

B.Total Assets $ 567,000 $ 265,000 $30,000 $180,000 $747,000

Total Liabilities & Stockholders’ Equity $ 632,000 $ 265,000 $150,000 $0 $ 747,000

Explanation:

a) Blank Corporation Journal Entries:

1.

Dr Investment 150,000

Cr Cash 150,000

2.

Dr Accumulated Depreciation 30,000

Cr Building & Equipment 30,000

b)

BLANK AND SUBSIDIARY

Consolidated Balance sheet Worksheet

December 31, 20x2

Blank Faith Debit Credit Consolidated

Cash $ 65,000 $ 18,000 $0 $0 $83,000

Accounts Receivable

87,000 37,000 $0 $0 $124,000

Inventory 110,000 60,000 $0 $0$ $170,000

Buildings & Equipment (net) 220,000 150,000 30,000 30,000 370,000

Investment in Faith Corporation Stock

150,000 $0 $0 150,000 $0

Total Assets $ 567,000 $ 265,000 $30,000 $180,000 $747,000

Blank Faith Debit Credit Consolidated

Liabilities and Stockholders’ Equity

Accounts Payable $ 92,000 $ 35,000 $0 $0 $127,000

Notes Payable 150,000 80,000 $0 $0 $230,000

Common Stock 100,000 60,000 $60,000 $0 $100,000

Retained Earnings 290,000 90,000 $90,000 $0 $290,000

Total Liabilities & Stockholders’ Equity $ 632,000 $ 265,000 $150,000 $0 $ 747,000

At NikeID, you can design your own athletic shoes by selecting the material, choosing the color and even adding other personal touches. This method of using machines to do multiple tasks to produce a variety of products is known as _______ manufacturing.

Answers

Answer: flexible manufacturing

Explanation: Flexible manufacturing is the type of manufacturing system employed at NikelD, wherein customers through customization can design their own athletic shoes. As such, there is usually equipment and computerized systems  configured to manufacture a variety of parts and handling changing levels of production. Doing this serves to improve efficiency while lowering the company's production costs significantly and is a characteristic feature of make-to-order strategies requiring a high degree of customization by customers. This system of manufacturing also creates a method of production designed to adapt to changes in the type and quantity of the product being manufactured very easily.

The U.S. Department of Defense needs to buy several million dollars worth of tires for its armored personnel carriers. An American manufacturer can supply the tires for $20 million. A foreign supplier can provide the tires for $15 million. Under these facts:________.
A) GATT requires that the tires be bought from the foreign supplier.B) A U.S. statute requires that the government buy from the U.S. supplier.C) Since the foreign supplier is cheaper, the government must buy from the foreign supplier to save money.D) None of the above is correct.

Answers

Answer:

The correct answer to the following question will be Option B.

Explanation:

The United States Department of Defense wants to supply tires valued many millions of dollars for some of its tanks and armored vehicles. An American manufacturer could supply 20 million dollars for the tires. Variables are dependent can supply $15 million again for tires. Beneath such factual information.

The other three choices have no relation with the specified scenario. So choice B is the perfect solution to that.

In calculating the probability of being alive at certain times in the future, the expert would most likely utilize the National Vital Statistics Report detailing the "number of people alive" out of 100,000 people for various demographic characteristics. True/False

Answers

Answer: True

Explanation:

The National Vital Statistics System is an inter-governmental system of sharing of data on vital statistics of the United States population. The National Vital Statistics System consist of the

Vital Statistics of the United States and the National Vital Statistics Report.

If an expert wants to calculate the probability of being alive at certain times in the future, such expert would most likely utilize the National Vital Statistics Report which details the "number of people alive" out of 100,000 people for various demographic characteristics. This is because the reports are accurate and can be easily accessible online.

The expected average rate of return for a proposed investment of $800,000 in a fixed asset with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $360,000 for the four years is

Answers

Answer:

22.5%

Explanation:

For computation of return on investment first we need to find out the average investment and average income per year which is shown below:-

Average investment = Proposed investment ÷ Average

= $800,000 ÷ 2

= $400,000

Now, the Average income per year = Expected total net income ÷ Number of year

= $360,000 ÷ 4

= $90,000

Return on investment = Average income per year ÷ Average investment

= $90,000 ÷ $400,000

= 0.225

or

= 22.5%

Journal entry worksheet
The company has 15 employees, who earn a total of $1,600 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2019, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year’s Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2020.
Transaction General Journal Debit Credit
The Office Supplies account started the year with a $3,500 balance. During 2019, the company purchased supplies for $14,455, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $3,080.
Transaction General Journal Debit Credit
Record the adjusting entry related to the company's insurance.
Transaction General Journal Debit Credit

Answers

Explanation: BIG STONKS

The following data apply to Elizabeth's Electrical Equipment: Value of operations $20,000 Short-term investments $1,000 Debt $6,000 Number of shares 300 The company plans on distributing $1,000 by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase? Notes: With some combinations of variables, the residual policy may result in zero dividends and a zero payout ratio. These outcomes are noted in the topic [TOP] field if applicable.

Answers

Answer:

$50

Explanation:

Elizabeth's Electrical Equipment

Total Assets will be :

Value of operations of 20,000+ Short term investments of 1000

=$21,000

Debt = $6000

Hence:

Equity will be :

Assets - Debt

= $21,000-$6,000

Which will give us = $15,000

Number of shares which are outstanding

= 300

$15,000/300

=$50

Therefore the Intrinsic value per share will be $50 immediately after the repurchase has occured.

On January 2, 2015, Vaughn Corporation issued $1,650,000 of 10% bonds at 96 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method".) The bonds are callable at 102 (i.e., at 102% of face amount), and on January 2, 2017, Vaughn called $1,140,000 face amount of the bonds and redeemed them. Ignoring income taxes.

Required:
Compute the amount of loss, if any, to be recognized by Vaughn as a result of retiring the $1,140,000 of bonds in 2017

Answers

Answer:

$59,280

Explanation:

This can be calculated as follows:

Bond issue price = $1,650,000 * 0.96 = $1,584,000

Discount on bonds payable = $1,650,000 - $1,584,000 = $66,000

Annual amortization of discount on bonds payable = $66,000 / 10 = 6,600

Bond carrying value on January 2, 2017 = Bond issue price + (Annual discount on bonds payable * Number of years) = $1,584,000 + ($6,600 * 2) =  $1,597,200  

Value of $1,140,000 of bonds = ($1,597,200 / $1,650,000) * $1,140,000 = $1,103,520

Loss on recognized on redemption = ($1,140,000 * 102%) - $1,103,520 = $59,280

Category killers compete primarily on the basis of a. low prices and enormous product availability. b. enormous product selection and sales expertise. c. convenient locations and customer services. d. rock-bottom prices and moderate selections. e. one-stop shopping and product availability.

Answers

Answer:

A. Low prices and enormous product availability.

Explanation:

This is a chain of retail stores or a retail outlet that sells different kinds of goods or products that in a way that seems cheap and affordable to consumers. They also look and facilitate quick form of buying and selling. Their main goal stands primarily on cheap, fast enormous sales of the product.

They possibly can create a compelling shopping experience. In a bid to do that, they need to compress instant gratification, unique assortments and a reasonable showroom experience that aids social lifestyles.

17
A property company received cash for property rentals totalling $738,400 during the
year to 31 December 2009. Figures for rent received in advance and rent in arrears at
the beginning and end of the year were as follows.
31 December 2008
31 December 2009
Rent received in advance
125,300
77,700
Rent in arrears
(all subsequently paid, no bad debts)
39,600
41,100
What amount should appear in the company's income statement for the year ended 31
December 2009 for rental income?​

Answers

Answer:

$764,400

Explanation:

Payment in advanced are prepayment which are treated as current liability until the service is delivered and sales income are credited while the .prepayment account are debited.

Accrual payment are payment for service already delivered which are current liability (receivables)

Rental income received  =                       $738,000

Rent in advance as at 31/12/2008              102,600

(prepayment for 2009)

Rent in advance as at 31/12/2009                (77,700)

Prepayment for 2010

Rent in arrears as at 31/12/2008                   (39,600)

Accrued payment for 2008

Rent in arrears as at 31/12/2009                      41,100

Recognized income                                      764,400

Your grandmother asks for your help in choosing a certificate of deposit​ (CD) from a bank with a​ one-year maturity and a fixed interest rate. The first certificate of​ deposit, CD​ #1, pays 1.95 percent APR compounded monthly​, while the second certificate of​ deposit, CD​ #2, pays 2.00 percent APR compounded weekly. What is the effective annual rate​ (the EAR) of each​ CD, and which CD do you recommend to your​ grandmother?

Answers

Answer:

1.97% and 2.01%

Explanation:

The computation of the effective annual rate is shown below:-

Effective annual rate = (1 + Annual percentage rate ÷ n)^n -1

For CD 1

= (1 + 0.0195 ÷ 12)^12 - 1

= (1 + 0.001625 )^12 - 1

= (1.001625 )^12 - 1

= 1.97%

For CD 2

= (1 + 0.02 ÷ 2)^2 - 1

= (1 + 0.01 )^2 - 1

= (1.01)^2 - 1

= 2.01%

CD 2 will recommend to the grandmother

Pharoah Company accounting records show the following at the year ending on December 31, 2022.
Purchase Discounts $ 11900
Freight-in 15600
Purchases 724020
Beginning Inventory 42000
Ending Inventory 50600
Purchase Returns and Allowances 10700
Using the periodic system, the cost of goods sold is:_______.

Answers

Answer:

$ 708,420.00  

Explanation:

The formula for cost of goods sold is given below

Cost of goods sold=beginning inventory +purchases +freight-purchase discounts-purchases allowance and returns-ending inventory

Cost of goods sold=$42,000+$724,020+$15,600-$11,900-$10,700-$50,600=$ 708,420.00  

The purchases discount and purchase returns reduce the value of purchases made hence deducted.

The ending inventory is left in stock as a result is also deducted

The phone bill for a corporation consists of both fixed and variable costs. Refer to the fourminusmonth data below and apply the highminuslow method to answer the question. Minutes Total Bill January 470 $ 4 comma 500 February 200 $ 2 comma 695 March 180 $ 2 comma 650 April 320 $ 2 comma 830 If the company uses 390 minutes in​ May, how much will the total bill​ be? (Round any intermediate calculations to the nearest cent and your final answer to the nearest​ dollar.)

Answers

Answer:

Total cost= $3,989.65

Explanation:

Giving the following information:

Minutes Total Bill

January 470 $4,500

February 200 $2,695

March 180 $2,650

April 320 $2,830

First, we need to calculate the unitary variable cost and fixed costs:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (4,500 - 2,650) / (470 - 180)

Variable cost per unit= $6.37931

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 4,500 - (6.37931*470)

Fixed costs= $1,501.72

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 2,650 - (6.37931*180)

Fixed costs= $1,501.72

If the company uses 390 minutes in​ May:

Total cost= 1,501.72 + 6.37931*390

Total cost= $3,989.65

Pitchfork, Inc. is preparing its 2020 financial statements. The company's accountant calculated Income from Continuing Operations to be $1,700,000, but upon further review is not certain this number is accurate. Pitchfork has a corporate income tax rate of 30%. Additionally, the company reports only one year of financial data on the face of the financial statements. All amounts listed are pretax unless otherwise noted. After reviewing the following information, determine the appropriate adjustments, if any, to Income from Continuing Operations. Once you have determined the CORRECT Income from Continuing Operations, complete the remainder of the Income Statement for reporting EPS.

1. On January 1, 2017, Pitchfork purchased a machine for $180,000 with a salvage value of $20,000 and useful life of eight years which was depreciated using the straight-line method. During 2020, Pitchfork decided to change to double-declining-balance method. The $1,700,000 Income from Continuing Operations had already been calculated using the straight-line depreciation method.

Determine the correct ADJUSTMENT to Income from Continuing Operations (ICO) for Depreciation Expense in 2020.

Adjustment for Depreciation Expense (2020):___________

Continuing with the information presented in #1 above, Pitchfork has ICO of $1,700,000 and a corporate tax rate of 30%. Determine if ICO should be adjusted based on the following information:

2. Pitchfork had an unrealized loss from foreign currency translation adjustments of $120,000 (pretax) that was included in calculating the $1,700,000 income from continuing operations.

Adjustment to I.C.O. for Translation Loss from Foreign Currency: __________

Continuing with the information presented in #1 above, Pitchfork Inc has Income from Continuing Operations (ICO) of $1,700,000 and a corporate tax rate of 30%. Determine if ICO should be adjusted based on the following information:

3. During 2020, Pitchfork closed one of its stores for a pre-tax loss of $150,000. This store closure did not qualify as a component of the entity, nor did it create a strategic shift in the operations of the entity. Therefore, it should not be treated as Discontinued Operations. The $150,000 restructuring charges were excluded in determining the $1,700,000 income from continuing operations.

To correct I.C.O., the Adjustment for Restructuring Charges would be $ _________

Continuing with the information presented in #1 above, Pitchfork has Income from Continuing Operations (ICO) of $1,700,000 and a corporate tax rate of 30%. Determine if ICO should be adjusted based on the following information:

4. On April 1, 2019 Pitchfork paid $24,000 for two years rent on office space and at the time debited Rent Expense. No adjusting or correcting entries were made for this transaction in 2019 or 2020.

a. To correct I.C.O for 2020, the correct Rent Expense (after tax) would be: $ _________


b. Determine the amount of the Prior Period Adjustment to be reported on the Retained Earnings Statement to correct the Beginning Balance at Jan 1, 2020: ______

5. Pitchfork sold investments during the year that resulted in a pre-tax loss of $18,000. The company also had unrealized gains on Available for Sale securities of $20,000 (pre-tax). Both of these transactions were excluded in determining the $1,700,000 Income from Continuing Operations calculation.

To correct I.C.O. for 2020, the adjustment for gains/losses on investments would be: $_________

6. Using the adjustments you made in items 1-5 above, determine the CORRECTED Income From Continuing Operations _________

7. Referring to the information presented above in questions 1-6, determine Pitchfork's Comprehensive Income as of year-end: $_________

Answers

Answer:

1.)19,600

2.) 84,000

3.) 105,000

4a) 8400

4b) 10500

5) 12,600

6) 1668500

7) 1739900

Explanation:

Kindly check attached picture

Pelzer Printing Inc. has bonds outstanding with 10 years left to maturity. The bonds have a 9% annual coupon rate and were issued 1 year ago at their par value of $1,000. However, due to changes in interest rates, the bond's market price has fallen to $950.70. The capital gains yield last year was -4.93%. What is the yield to maturity

Answers

Answer:

The answer is 9.85%

Explanation:

The number of periods N = 9years(10 years minus 1 year ago)

Yield to Maturity (I/Y) = ?

Present value of the bond (PV) = $950.70

Future value of the bond(FV) = $1,000

Annual payment (PMT) = $90 (9% x $1,000)

Using a financial calculator to solve the problem ( BA II plus Texas instruments):

Yield to Maturity (I/Y) = 9.85%

Two countries are trying to decide which product should have an increased production Both Canada and Costa Rica produce cottee and corn, but is easier for Canada to raise com than grow Coffee Costa Rica easily grows coffee, but has a more difficult time growing com. In comparison with Costa Rica, Canada has:_________.
a the camale to create richer lasting coffee than Costa Rica
b the opportunity to increase their coffee production to better compete with Costa Rka
c. a comparative advantage with com.
A Moving to another question will save this response

Answers

Answer:

. a comparative advantage with com.

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.

If it is easier for Canada to produce Com, it means they have a comparative advantage in the production of com. Costa Rica has a comparative advantage in the production of coffee.

I hope my answer helps you

Torino Company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $3,500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Answers

Answer:

The answer is $4,300

Explanation:

Solution

We recall that:

Torino company has 1,200 shares of = $50 per value

The cumulative and nonparticipating preferred stock of = 6.0%

They also have 13,00 shares

Common stock outstanding = $10 per value

Total dividends = $3,500

Now,

The first year amount of dividend that was paid in the first year of working is  stated as follows:

6% * 1300 * 50 = $3900

The paid dividend = $3,500

The amount amount payable during the second year to the common stakeholders is

=$3900 + 400 = $4,300

Note: preferred shares are cumulative, for this the amount paid to the stakeholders was $4,300

On January​ 1, 2018​, White Corporation signed a $ 120,000​, four​-year, 2​% note. The loan required White to make payments annually on December 31 of $ 30,000 principal plus interest.

Required:
a. Journalize the issuance of the note on January 1, 2018
b. Journalize the first payment on December 31, 2018

Answers

Answer:

Dr cash                 $120,000

Cr Notes payable                         $120,000

Dr interest expense    $2,400

Dr notes payable       $30,000

Cr cash                                             $32,400

Explanation:

The issuance of the notes payable of $120,000 means that White Corporation's cash inflow has increased by $120,000 while its corresponding loan obligation has also gone up by the same amount.

On 31 December 2018,White Corporation would need to repay $30,000 principal plus interest of $2,400 ($120,000*2%).The interest payment is debited to interest expense while $30,000 repayment is debited to notes payable and cash is credited with the total of $32,400

Mostert Music Company had the following transaction inMarch:a. Sold instruments to customers for $10,000; received$ 6,000 in cash and the rest on account.The cost of theinstruments was $7,000.
b.Purchased $4,000 of new instruments inventory; paid$1,000 in cash and owed the rest on account.
c. Paid $600 in wages for the month.
d. Received a $200 bill for utilities that will be paidin April.
e. Received $1,000 from customers as deposits on ordersof new instruments to be sold to the customers in April.Complete the following statement:Cash BasisIncomeStatementAccrualBasis Income StatementRevenues:Revenues:CashSales___________Salesto customers_________Customerdeposits___________Expenses:Expenses:Inventorypurchases__________Costof sales__________Wagespaid__________Wagesexpense__________Utilitiesexpense__________CashIncome___________(dbl underline)Netincome_________(dbl underline)

Answers

Answer: The answer is given below

Explanation:

It should be noted that for the cash basis income statement, the revenue were cash sales of $6000 and customer deposit of $1000 making a total of $7000. The expenses were the inventory purchased of $1000 and the wages paid of $600 making $1600. Cash income was now:

= $7,000 - $1600

= $5400

For the accrual income statement, the revenue was $10000 and expenses were $7800. The cash Income was now: $10,000 - $7800 = $2,200

Check the attachment for further clarification.

Corn is an input in the production of tortillas. If you don't know anything about the demand curve, which of the following can you say for certain will happen in the market for tortillas if there is an increase in the price of corn ?

a. overall supply will decrease
b. overall supply will increase
c. quantity supplied will decrease
d. quantity supplied will increase

Answers

Answer:

3.14

Explanation:

A buyer uses a perpetual inventory system, and on December 7, it contacts its supplier to report that some of the merchandise purchased on December 5 was defective. The seller offered to reduce the merchandise price by $400. The buyer agreed to keep the defective merchandise under those terms. Complete the buyer's necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

Answers

Answer:

Journal

Account Title

Accounts Payable                            $400  (Debit)

Purchase return and allowances    $400 (Credit)

Account Payable

Dec 7   Cash               $400 (Debit)

Purchase Returned

Dec 7   Cash               $400 (Credit)

If the price of chocolate-covered peanuts decreases from $1.15 to $0.90, the quantity demanded does not change, and other things are unchanged, the absolute value of the price elasticity of demand, using the midpoint method, is:

Answers

Answer:

price-elasticity = 0

Explanation:

The formula for mid-point elasticity will be as follows:

[tex]\frac{q_1-q_2}{\frac{q_1+q_2}{2}} \div\frac{p_1-p_2}{\frac{p_1+p_2}{2}}[/tex]

Now, as quantity did not change we get:

q1 = q2

thus q1 + q2 = 2q1

and q1 - q2 = 0

[tex]\frac{0}{\frac{2q_1}{2}} \div\frac{1.15-0.90}{\frac{1.15+0.90}{2}}[/tex]

As we are getting a zero the end result will be zero which makes complete sense as there was no change in quantity the demand is completely inelastic.

On October 31, 2018, your company's records say that the company has $20,419.93 in its checking account. A review of the bank statement shows you have three outstanding checks totaling $8,912.25, and the bank has paid you interest of $27.14 and charged you $22.00 in service charges. The bank statement dated October 31, 2018 would report a balance of: (Round your answer to 2 decimal places.)

Answers

Answer: $29337.32

Explanation:

The following can be reduced from the question:

Balance as per company's ledger = $20,419.93

Add the outstanding checks= $8912.25

Add interest = $27.14

Less the fee charged by the bank = $22.00

The bank statement dated October 31, 2018 would report a balance of:

=($20,419.93 + $8912.25 + $27.14) - $22.00

= $29337.32

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