Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial balance at March 31 before adjustments is as follows: Debit Credit Cash $ 10,940 Accounts Receivable 9,640 Supplies 1,320 Prepaid Insurance 3,200 Equipment 27,000 Accumulated Depreciation: Equipment $ 10,800 Unearned Service Revenue 6,600 Capital Stock 5,300 Retained Earnings 23,500 Dividends 1,580 Service Revenue Earned 17,190 Salaries Expense 7,900 Utilities Expense 410 Rent Expense 1,400 $ 63,390 $ 63,390 According to service contracts, $4,830 of the Unearned Service Revenue has been earned in March. The amount of Service Revenue Earned to be reported in the March income statement is:

Answer:

The amount of deposit is 369.77 dollars

Explanation:

We can calculate the amount of deposit using present value and the number of payment periods, which is 17. It tells us about the value of our future income as measured in today's dollars. Future value for all four years is 1600 dollars. Formula for present value is future value/(1+interest rate)^number of periods. In this case it will be 1600/1.09^17 or 1600/4.327 equals 369.77.

To solve the problem, we use the formula for the future value of an ordinary annuity. By plugging the given values into the formula, we can find out how much the father needs to deposit each year for 17 years to ensure his son can withdraw $4000 per year for his college education from 18 to 21 years.

The problem can be solved using the formula of the future value of an ordinary annuity. An annuity is a series of equal payments made at equal intervals. The future value formula is

where FV is the future value of the annuity, P is the amount of each payment, r is the interest rate, and t is the number of periods.

Since the son has to withdraw the amount from 18 to 21 years, that's 4 years in total, and the amount to be withdrawn is $4000 per year. We already know the value for FV (4*4000= $16000). We can plug the values into the formula and solve for P (the amount the father needs to deposit each year):

Given that the father will make a deposit for 17 years and the interest rate is 9% compounded annually, we find P by using the interest rate as a decimal (0.09).

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Answer and Explanation:

The journal entries are as follows

On Jan 1

Cash A/c Dr $23,800      (700 shares × $34)

             To Common stock $23,800 (700 shares × $34)

(Being the issuance of the common stock is recorded)

On April 1

Cash A/c Dr $4,180      (110 shares × $38)

             To Common stock $4,180   (110 shares × $38)

(Being the issuance of the common stock is recorded)

For recording these transactions we debited the cash as it increased the cash balance and at the same time it also increased the stockholder equity so it would be credited

Answer:

The correct answer is letter "A": indirect.

Explanation:

An indirect distribution or sales channel uses intermediaries who have stored the products a company manufactures so they are offered to final consumers. In such a way, manufacturers work with retailers, wholesalers, and smaller stores being in charge of the sale of the goods.

Manufacturers provide their products to stores they trust can represent the firm as if they would be offering the products directly. Producers reduce costs bu engaging in this type of distribution channel.

Ralph Lauren uses Indirect Distribution, a channel involving intermediaries such as Nordstrom, to distribute its products. This helps them reach numerous and more diverse customers.

Ralph Lauren uses a form of distribution known as Indirect Distribution to sell Polo shirts through Nordstrom. This is a type of distribution channel where a company uses intermediaries, such as retail stores, to sell its products to the final consumer. In this case, Ralph Lauren is the manufacturer of the Polo shirts, Nordstrom is the intermediary, and the customers are the final consumers. This is advantageous for Ralph Lauren as it allows them to reach a numerous and more diverse customer base that they may not have been able to access otherwise, and it allows Nordstrom to carry a popular, high-quality brand that attracts customers.

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Answer:

See explanation section

Explanation:

The adjustment Mayberry Advertising would record to establish Allowance for Uncollectible Accounts is as follows:

Debit     Bad Debt Expense                  $1,768

Credit    Allowance for doubtful accounts       $1,768

Calculation: $22,100 × 8% = $1,768

As there was no beginning debit or credit balance of allowance for doubtful accounts, we did not need to adjust the expense. Mayberry Advertising just added the amount in the expense section.

Answer:

3 equipments

Explanation:

each equipment can produce per day:

total second per 8 hour shift = 8 x 60 x 60 = 28,800 seconds

it takes 4,500 seconds to produce 100 units x 95% efficiency = 95 units

then it must be set-up for 3,000 seconds

this process can be completely repeated 3.84 times per day, so the average production per day per equipment = 3.84 x 95 = 364.8 ≈ 364 units

since they need to produce 800 units per day, the manufacturer should purchase = 800 / 364 = 2.2 ⇒ 3 equipments.

Answer:

41 contract

Explanation:

The farmer must sell forward:

186,550×(1/0.91)

=186,550×1.09890

= 205,000 bushels of yellow corn.

This requires selling:

205,000/5,000 = 41 contracts

Therefore Farmer Brown should buy or sell to hedge his position 41 contract

Answer:

The order results in an incremental net income of $69,278 therefore accept

Explanation:

Consider the Incremental Costs and Revenues arising from this decision.

Since Maize has sufficient excess operating capacity, fixed costs are irrelevant for this decision.

Sales (6,400 units ×$31.76)                                            203,264

Variable Costs (6,400 units ×$19.94)                             (127,616)

Logo and Shipping Costs  (6,400 units ×$1.00)              (6,400)

Net Income                                                                        69,248

The order results in an incremental net income of $69,278 therefore accept

Answer:

Explanation:

The boxplot for the yearly tuition costs has been attached as a file.

To construct a boxplot for the yearly tuition costs, use the five-number summary provided. Draw a number line with the values marked and create a boxplot where the box represents the interquartile range and the line inside the box is the median. Values outside the whiskers are outliers.

To construct a boxplot for the yearly tuition costs based on the given information, we can use the five-number summary. The five-number summary consists of the minimum value, the 25th percentile, the median, the 75th percentile, and the maximum value. In this case, the minimum value is $2000, the 25th percentile is $4600, the median is $6000, the 75th percentile is $7300, and the maximum value is $10000.

The boxplot can be drawn on a number line, with the minimum value on the left, the maximum value on the right, and the other values marked in between. The box represents the interquartile range (the distance between the 25th and 75th percentiles), while the line inside the box represents the median. Any values outside the whiskers (lines extending from the box) are considered outliers.

Using the given values, the boxplot for the yearly tuition costs would be as follows:

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The transports medical equipment to emerging nations, is conducting a political risk analysis before signing a contract to transport equipment within a South American country for the following reason which is,

b. Devaluation of the country's currency

Explanation:

In a political risk analysis for a company transporting medical equipment, potential nationalization of invested assets, devaluation of the country's currency, uncertain prices for critical commodities, and high government debt would all suggest high risks that may warrant not signing a contract.

Conducting a political risk analysis is crucial for businesses looking to operate in foreign countries, especially when the business involves the transport of critical commodities like medical equipment. The findings of such an analysis that would indicate a high risk, suggesting that a company should potentially NOT sign the contract, would include potential nationalization of invested assets. Such a scenario implies that the government could take control of a company's assets without fair compensation, which would cause substantial losses. Devaluation of the country's currency implies a risk of loss in revenue and profitability for the business. It can make repatriation of profits difficult and introduces currency risk into the company's operations. Furthermore, uncertain prices for critical commodities can lead to supply chain disruptions and cost fluctuations, which negatively impact business planning and budgeting. Lastly, high government debt might signal a risk of economic instability or fiscal policy changes that could unfavorably impact business operations.

Answer:

The multiple choices are:

a. $40 000

b. $50 000

c. $57 000

d. $60 500

C is the correct option,$57,000.

Explanation:

The cost of the vehicle initially was $50,000 because the cash of $40,000 which would debited to motor vehicle and credited to cash.Also,the trade-in-allowance is $10,000 debited to new motor vehicle and credited to old motor vehicle account.

Besides,the cost of name and logo would also form part of the cost of the motor vehicle  as well as the cost of suspension adjustment.

The rationale is here is that cost of an asset includes cost of bringing the asset to its present location and condition.

Cost=$50,000+$2,000+$5000=$57,000

Answer:

question

1. how much amortization expense on the goodwill can Ingrid deduct in year 1,  year 2, year 3?

2. In lieu of the original facts, assume that Ingrid purchase only a phone list with a useful life of 5 years for $16,500.

How much amortization expense on the phone list can Ingrid deduct in year 1, year 2 and year 3?

Explanation:

The explanation is shown in the file attached. Thank you i hope it helps

Ingrid's decision to acquire a competing business is a common business strategy. She allocated a part of the price to goodwill, representative of intangible advantages like reputation or customer relationships. The business's taxable income is reported on a calendar-year basis.

Ingrid's business decision about acquiring a competing business is a part of a strategy often seen in the business field. Her allocation of $63,000 of the purchase price to goodwill represents an intangible asset that exists in many businesses. Goodwill typically represents things like a company's reputation or customer relationships which don't have physical value but can greatly contribute to a company's profitability.

The fact that Ingrid's business reports its taxable income on a calendar-year basis is an aspect that has an impact on how the business manages its finances, including the depreciation of assets for example.

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Answer: b. The premium reflecting the risk that unanticipated events will occur over the term of the security.

Explanation:

The Maturity Risk Premium refers to an additional rate of return that is put on a long term instrument such as a bond to cater for unanticipated events during the time that the bond is to be held.

For example, there is a risk that inflation rates could rise sharply.

This is why the Maturity Risk Premium is important. To ensure that returns are stable even if such events occur.

Option b is correct.

b. The premium reflecting the risk that unanticipated events will occur over the term of the security.

The following statement should be considered:

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Final answer:

If Frank sues Debby, the case will depend on whether there was a new consideration provided for Debby's promise to pay an additional $10,000, based on contract law principles. Unforeseen complications in the construction could justify the renegotiation of the contract, potentially enforcing Debby's promise.

Explanation:

The likely result if Frank sues Debby for not paying the additional $10,000 is nuanced and would depend on the details of their contract and the laws of their jurisdiction. Generally, under contract law principles, such as the pre-existing duty rule, a party cannot demand additional payment for doing something they are already contractually obligated to do unless they provide some new consideration. However, if Debby's promise to pay the extra $10,000 can be seen as a new agreement, where Frank provides additional value or benefit beyond the original scope of the contract, then there could be grounds for enforcing the new promise. This could be an instance of renegotiation due to unforeseen circumstances, such as the unique and special framing requirements that weren't anticipated. Ultimately, the specific facts and terms of the agreement will guide the decision in such a legal dispute.

Answer: forced distribution method

Explanation:

JUST DID IT

Final answer:

The decision to use a buffer or be direct when refusing Mr. Wright's request depends on the situation and your purpose. A buffer can soften the blow and maintain a positive relationship, while being direct is suitable in certain scenarios. The best approach depends on the circumstances and desired outcome.

Explanation:

In the case of refusing Mr. Wright's request, it depends on the situation and your purpose. Option b suggests using a buffer, which means using a polite and indirect approach to soften the blow and avoid hurting the other person's feelings. This can be beneficial in scenarios like rejecting a donor's gift, where maintaining a positive relationship is important. However, if the situation calls for a direct and no-nonsense approach, as mentioned in option a, being clear and concise without a buffer can be appropriate.Ultimately, the decision to use a buffer or be direct depends on the specific circumstances and your goal. Option c generalizes that bad-news messages always require a buffer, but this may not be true in every case. It's important to assess each situation individually and choose the approach that aligns with your business objectives and the desired outcome.

Answer:

$2,500

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Estimated allowance for doubtful accounts = Credit Sales x percentage = $300,000 x 1% = $3,000

Current Balance = $500 credit

As Allowance for Doubtful Accounts already have credit balance of $500, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $3,000 at the year end.

Adjustment Value = $3,000 - $500 = $2,500

$875 is the amount of revenue that will be recognized.

Explanation:

Entire price for specialized bike will be appropriated in the ratio of individual prices of the non- specialized bikes and the maintenance contract.

The following calculation is made to calculate the revenue from the sale of a bike:

= 1400 multiply with  (1000 divide by 1600)

After solving the above equation we get,

= $875  will be recognized by Neakanie at the date of sale.

Hence, the correct option will be with an amount of $875

Note: a maintenance contract is $600 and a comparable but non-specialized bike is $1,000 when added sums to $1600 amount.

The amount of Salaries Payable for the month of January for Smart Packers is calculated by subtracting the employer's expenses such as tax withheld, health insurance, and retirement plan contribution from the total payroll, which results to $55,000.

The amount of Salaries Payable for Smart Packers for the month of January can be calculated by deducting all additional expenses from the total gross payroll. In this case, the total payroll is $100,000. The company's contribution to health insurance, retirement plan, and withheld income tax are all added expenses. These are:

By adding these, we get a total expense of $45,000. Subtracting this from the total payroll of $100,000, we get a Salaries Payable of $55,000. It is important to note that the FICA tax rate or the Federal and state unemployment tax rate are not considered in this calculation since they are paid on top of the salaries and do not reduce the amount payable to employees.

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Final answer:

Salaries Payable is the amount of money owed by the company to its employees for work performed during a specific period but has not yet been paid. To calculate Salaries Payable, subtract the total deductions from the total payroll. The amount of Salaries Payable for the month is $55,000.

Explanation:

Salaries Payable is the amount of money owed by the company to its employees for work performed during a specific period but has not yet been paid.

To calculate Salaries Payable using the information provided, we can subtract the total deductions (taxes, health insurance premiums, retirement plan contributions) from the total payroll of $100,000.

Therefore, the amount of Salaries Payable for the month is $100,000 - $20,000 - $10,000 - $15,000 = $55,000.

Answer:

$40,000

Explanation:

As we know that net working capital is

Net working capital = Current assets - current liabilities

where,

Current assets = Increase in inventory + increase in account receivable

                        = $30,000 + $41,000

                        = $71,000

And, the current liabilities

= Increase in account payable

= $31,000

So, the effect on the firm net working capital is

= $71,000 - $31,000

= $40,000

Answer:

relevant cost to make are $9.00

Explanation:

Consider the avoidable costs only because they are relevant for this decision.

Direct materials                                $2 .00

Direct labor                                       $3 .00

Variable manufacturing overhead  $4 .00

Total                                                  $9.00

The relevant cost to make the part is $9 per unit, which includes direct materials, direct labor, and variable manufacturing overhead.

The question asks to calculate the relevant cost to make a part in the context of Outsourcing decisions. When considering outsourcing, only variable costs and avoidable fixed costs are relevant. Since the fixed manufacturing overhead is unavoidable and there are no alternative uses for the facilities, the fixed cost is not relevant to this decision.

To calculate the relevant cost to make the part, we add the direct materials, direct labor, and variable manufacturing overhead: $2 (direct materials) + $3 (direct labor) + $4 (variable manufacturing overhead) = $9. Therefore, $9 per unit is the relevant cost to make the part.

Answer:

According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too high, thus labor demand is too low.

According to the sticky-price theory, the economy is in a recession because not all prices adjust quickly.

According to the misperceptions theory, the economy is in a recession when the price level is below what is expected.

Explanation:

The above mentioned are the three theories of the upward slope of the short-run aggregate-supply curve.

Answer:

$2,468,000

Explanation:

LIFO reserve = “Allowance to Reduce Inventory to LIFO” = the difference between the inventory method used for internal reporting purposes and LIFO.

LIFO effect = the change in the Allowance balance from one period to the next = the adjustment that companies must make to the accounting records.

Dr Cost of Goods Sold $168,000

($486,000- $318,000)

Cr Allowance to Reduce Inventory to LIFO $168,000

$2,300,000 +$168,000 =$2,468,000

Therefore the amount that Bramble should report as Cost of Goods Sold in the 2018 income statement is $2,468,000

Answer:

It has some degree of monopoly-pricing power.

Explanation:

Pricing discrimination can be defined as a selling strategy in which producers set different prices for a particular product. Pricing discrimination can also be described as a method used by organizations to set the amount a product will be sold to different group of customers.

Pricing discrimination enables an organization to increase their sales and maximise profit, this is because this type of selling approach persuades customers to purchase large quantities of goods and services.

c. it has some degree of monopoly-pricing power.

The following information should be considered:

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Answer:

The last dividend = $0.84

Explanation:

We know,

Current stock price, [tex]P_{0}[/tex] = [tex]D_{1}[/tex] ÷ ([tex]r_{s} - g[/tex])

Given,

Market rate of return, [tex]r_{s}[/tex] = 13.50% = 0.135

Growth rate, g = 7.50% = 0.075

Expected dividend, [tex]D_{1}[/tex] = [tex]D_{0}[/tex] × (1 + g)

Thus we have to determine [tex]D_{0}[/tex] as it is the current year dividend or most recent dividend.

Current stock price, [tex]P_{0}[/tex] = $15

Putting the values into the above formula, we can get,

$15 = [[tex]D_{0}[/tex] × (1 + g)] ÷ [([tex]r_{s} - g[/tex])]

or, $15 = [[tex]D_{0}[/tex] × (1 + 0.075)] ÷ (0.135 - 0.075)

or, $15 = ([tex]D_{0}[/tex] × 1.075) ÷ 0.06

or, $15 = [tex]D_{0}[/tex] × 17.9167

or, [tex]D_{0}[/tex] = $15 ÷ 17.9167

Therefore, the last dividend [tex]D_{0}[/tex],  = $0.84

Using the Gordon Growth Model, substituting the given values into the formula P0 = D0 * (1 + g) / (k - g), and solving for D0, we find that the last dividend paid by Goode Inc. was approximately $0.8372 per share.

To find the last dividend (D0) paid by Goode Inc., we can use the Gordon Growth Model (also known as the Dividend Discount Model). This model relates the current stock price (P0), the dividend growth rate (g), and the required rate of return (k) to calculate the last dividend paid. The formula for the Gordon Growth Model is P0 = D0 * (1 + g) / (k - g).

We know that Goode Inc. sells for $15.00 per share (P0), has a required rate of return of 13.50% (k), and the dividends are expected to grow at 7.50% (g). Substituting these values into the formula and solving for D0 gives us:

$15.00 = D0 * (1 + 0.075) / (0.135 - 0.075)

Multiplying both sides by (0.135 - 0.075) and then dividing by (1 + 0.075) yields:

D0 = $15.00 * (0.135 - 0.075) / (1 + 0.075)

D0 = $15.00 * 0.06 / 1.075

D0 = $0.8372 approximately

The last dividend paid by Goode Inc. was therefore approximately $0.8372 per share.

Answer:

C. Is an ethanol-gasoline mixture

Explanation:

E-85 is a designation used to represent a combination of ethanol and gasoline. It indicates an ethanol content of 85% and a gasoline content of 15%. Most countries with cold temperatures practice this mixture of ethanol with gasoline, because, ethanol makes it hard for the engines of vehicles to crank.

A major agricultural produce used in the production of ethanol is corn which undergoes fermentation. Some countries who use E-85 as a source of fuel include; the United States, as well as Sweden.

Answer:

Truck $54,000

Explanation:

Basket purchase price of assets is always pro rated in ratio of their fair values

=90,000*(60,000/100,000

=54,000

Truck=$54,000

Trailer=90,000-54,000=$36,000

Answer:

B. 30,000 units of activity.

Explanation:

Data provided in the question

Planned sales unit = 24,000 units

Actual sales units = 30,000 units

Based on the given information, the appropriate comparison is made when the planned sales units is compared with the actual sales units i.e 24,000 units with 30,000 units

So the budget should be based on 30,000 units of activity as it reflects the actual sales units

Answer:

1)

Dr. Bad Debt Expense                         $13

Cr. Allowance for Doubtful Accounts $13

2)

Dr. Bad Debt Expense                         $48

Cr. Allowance for Doubtful Accounts $48

2)

Dr. Bad Debt Expense                         $67

Cr. Allowance for Doubtful Accounts $67

4)

Dr. Allowance for Doubtful Accounts $10

Cr. Account receivables                      $10

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Closing Value of the Allowance for Doubtful Accounts will be as follow

Closing Balance = $18,400 x 1% x 1/4 = $46

1) 1/4 of 1 percent of sales

As Allowance for Doubtful Accounts already have credit balance of $33, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $46 at the year end.

Adjustment Value = $46 - $33 = $13

2) Aging of accounts receivable method

Uncollectible account receivable = $81

As Allowance for Doubtful Accounts already have credit balance of $33, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $81 at the year end.

Adjustment Value = $81 - $33 = $48

3)

Uncollectible account receivable = $46

As Allowance for Doubtful Accounts already have credit balance of $21, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $46 at the year end.

Adjustment Value = $46 - $21 = $67

Solution and Explanation:

The Journal Entries in the books of Brock's water enterprise is as follows :-

Date  Particulars and details                             Debit($)  Credit($)

Jan 5, 2018  Intangible Assets - Lease  905861  

Lease Payable                                            905861

(Being Record the Lease)        

Jan 5, 2018  Lease Payable                  125000  

Cash                                                           125000

(Being Record Down Payment)        

Dec 31, 2018  Amortization Expenses ($905861divide 10)  90586  

Accumulated Amortization                                           90586

(Being Record the amortization)        

Jan 5, 2019  Lease Payable [tex](\$ 125000-\$ 62469)[/tex] 62531  

Interest Expenses [tex]((\$ 905861-\$ 125000) * 8 \%)[/tex]   62469  

Cash                                                                              125000

(Being Record the Second Lease Payment)