Answer:
Collections for July = $43200
Explanation:
Sales on cash are generally collected immediately, hence if the sale occurs in June, it would be collected in June itself. Sales on credit on the other hand, is where the debtor can pay for the goods or services on a later date. In this case, it is paid in the next month after the sale.
According to the information cash collections are 60%. Hence in July, 60% of $52,000 would be obtained, which is - $52,000 x 60% = $31,200.
At the same time, the sales on credit made in June would be collected in July. Since sales on credit amount to 40% of total sales of the month, it would be - $30,000 x 40% = $12,000.
Total collections for July = $12,000 + $31,200 = $43,200.
"The Total collections for July is = $12,000 + $31,200 = $43,200. To understand more calculation check below".
Calculation of Collections of Sales
Sales on cash are generally collected immediately, thus, if the sale occurs in June, it would be collected in June itself. When the Sales on credit, on the different pointer, is where the debtor can pay for the goods or services at a later date. In case of, it is paid in the next month after the sale.
According to the information cash collections are 60%. Therefore, in July, 60% of $52,000 would be obtained, which is - $52,000 x 60% = $31,200.
At the same time, When the sales on credit made in June would be collected in July. When the sales on credit amount to 40% of total sales of the month, it would be - $30,000 x 40% = $12,000.
Therefore, the Total collections for July is = $12,000 + $31,200 = $43,200.
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The highest and lowest levels of activity for the Felton Company were 58,000 direct labor hours and 42,000 direct labor hours, respectively. Maintenance costs were $336,000 at the 58,000-hour level and $304,000 at the 42,000-hour level.
a. Compute the maintenance cost formula.
b. What cost might we expect at an operating level of 52,000 direct labor hours?
Answer:
A. $32,000
B. $324,000
Explanation:
See attached file
Answer:
a. Compute the maintenance cost formula
Maintainance cost = $220,000 + $ 2.00 × Number of direct labour hours.
b. cost at an operating level of 52,000 direct labor hours
$324,000
Explanation:
a. Compute the maintenance cost formula
Maintainance Cost is a semi-variable cost. This means it has a fixed cost element and a variable cost element.
Cost separation of Maintainance cost is done by using the high - low method as follows :
Variable cost element = difference in Overhead (High - Low)/ difference in Acitivity (High - Low)
= $336,000 - $304,000 / 58,000 - 42,000
= $ 2.00 per direct labour hour
Fixed cost element = Total Overhead - Variable Cost at given activity level
activity level of 58,000 hrs produce the following results
Fixed cost element = $336,000 - $ 2.00 × 58,000
= $220,000
Maintainance cost = $220,000 + $ 2.00 × Number of direct labour hours.
b. cost at an operating level of 52,000 direct labor hours
Maintainance cost = $220,000 + $ 2.00 × Number of direct labour hours.
= $220,000 + $ 2.00 × 52,000
= $324,000
Store supplies still available at fiscal year-end amount to $2,050. Expired insurance, an administrative expense, for the fiscal year is $1,600. Depreciation expense on store equipment, a selling expense, is $1,575 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,100 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2018
Answer:
Current Ratio = 7.59
Acid test Ratio = 1.28
Gross margin ratio = (Gross profit)/(Total Revenue)
where gross profit = Sales- Cost Of Sales
Explanation:
The first ratio that we must calculate is the current ratio which is the measure of current assets and current liabilities which the formula is :
Current ratio = (current assets)/ (current liabilities)
which current assets are assets that are liquidated in 12 months or less which given here the store supplies balance of $2050 then further we have Inventory( Stock) balance at the year end of $10100
Then current liabilities are those liabilities that can be paid in 12 months or less of which here we are given expired insurance and an admin expense which means that these are Differed expenses which are a liability that will be paid off in the next accounting period which amount to $1600. Therefore the current ratio will be ; Current Ratio = ($2050+$10100)/($1600)
Current ratio = 7.59 correct to two decimal places.
The acid test ratio is calculated by adding up all the most liquid able assets over the total liabilities in the company. the formula is
Acid test ratio = (most liquidable assets)/(Total Liabilities)
Acid Test Ratio = ($2050)/($1600)
Acid Test Ratio = 1.28 correct to two decimal places
where the most liquidable asset is the store supplies and the total given liabilities are the one given for the expired insurance and an admin expense.
The last ratio is the gross margin ratio which is calculated by dividing he gross profit of a company by the total revenue a company gains which the formula is Gross Margin Ratio = (Gross profit)/(Total Revenue), where Gross profit = Sales - Cost of Sales. Then to find the Total Revenue which is the Gross Profit - Operating expenses.
Answer:
The Current Ratio = 7.59
The Acid test Ratio = 1.28
The Gross margin ratio = (Gross profit)/(Total Revenue)
where gross profit = Sales- Cost Of Sales:
Explanation:
The First step to take is to calculate the current ratio which is the measure of current liabilities and assets
The the formula is :
The ratio (Current) = (current assets)/ (current liabilities)
The current assets are assets that given here, the store supplies balance of $2050 then further we have Inventory( Stock) balance at the year end of $10100 or assets that are liquidated or in 12 months or less.
Then
The current liabilities are those liabilities that an admin expense which means that these are Differed expenses which are a liability that will be paid off in the next accounting period which amount to $1600 Or that can be paid in 12 months or lesser of which here we are given expired insurance and. Therefore the current ratio will be:
The Current Ratio = ($2050+$10100)/($1600)
Current ratio = 7.59 correct to two decimal places.
The acid test ratio is calculated by adding up all the most liquid able assets over the total liabilities in the company. the formula is given as,
The Acid test ratio = (most liquidable assets)/(Total Liabilities)
Which is,
Acid Test Ratio = ($2050)/($1600)
Acid Test Ratio = 1.28 correct to two decimal places
When the most liquidable asset is the store supplies and the total given liabilities are the one given for the expired insurance and an admin expense.
The last ratio is the gross margin ratio which is calculated by dividing he gross profit of a company by the total revenue a company gains
Therefore,
the formula is Gross Margin Ratio = (Gross profit)/(Total Revenue), where Gross profit = Sales - Cost of Sales. Then to find the Total Revenue which is the Gross Profit - Operating expenses.
To reduce its stock price, Shriver Food Systems, Inc., declared and issued a 75 percent stock dividend. The company has 710,000 shares authorized and 110,000 shares outstanding. The par value of the stock is $1 per share and the market value is $100 per share. Prepare the journal entry to record this large stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Explanation of journal entry for Shriver Food Systems Inc. issuing a 75% stock dividend.
Journal Entry for Shriver Food Systems Inc. recording 75% stock dividend:
Stock Dividends Distributable (75% of Par Value x 110,000 shares) $82,500
Common Stock Dividends Distributable (25% of Par Value x 110,000 shares) $27,500
Common Stock (Par Value x 110,000 shares) $110,000
Additional Paid-in Capital (Difference between Market Value and Par Value x 110,000 shares) $9,000,000
. Terry purchases an annuity with payments made at the beginning of each month for 36 payments. The monthly payments are a constant amount of 15 per month for the first 24 payments. The 25th payment is 20, 26th is 25, the 27th payment is 30, and the arithmetic sequence continues for the rest of the payments. The nominal annual interest rate is 6% convertible monthly. What is the present value of the annuity
Answer:
The present value of the annuity is $ 825.02
Explanation:
The present value of the annuity is the today's worth of the thirty annuity payments.
Each of the annuity payment is multiplied by its discount factor,for instance the discount factor for the first payment is computed thus
=$15*(1/(1+6%/12)^1=$14.93
The 6% interest rate is divided by 12 months to show a monthly rate of return find attached.
Summit Systems will pay a dividend of $ 1.48 one year from now. If you expect Summit's dividend to grow by 6.4 % per year, what is its price per share if its equity cost of capital is 10.2 %?
Answer:
$36.84
Explanation:
The computation of the price per share is shown below:
Price per share = (Dividend) ÷ (Equity cost of capital - growth rate)
where,
Dividend one year from now is $1.48
Equity cost of capital = 10.2%
And, the growth rate is 6.4%
So, the price per share is
= ($1.48) ÷ (10.2% - 6.4%)
= ($1.48) ÷ (3.8%)
= $36.84
Trend-Line Inc. has been growing at a rate of 6% per year and is expected to continue to do so indefinitely. The next dividend is expected to be $5 per share. a. If the market expects a 10% rate of return on Trend-Line, at what price must it be selling? (Do not round intermediate calculations.) b. If Trend-Line’s earnings per share will be $8 next year, what part of its value is due to assets in place? (Do not round intermediate calculations.) c. If Trend-Line’s earnings per share will be $8 next year, what part of its value is due to growth opportunities? (Do not round intermediate calculations.)
Answer:
a. $125
b. $80
c. $45
Explanation:
a. If the market expects a 10% rate of return on Trend-Line, at what price must it be selling? (Do not round intermediate calculations.)
Current selling price = Next dividend / (Rate of return - Growth rate) = $5 / (10% - 6%) = $125.
b. If Trend-Line’s earnings per share will be $8 next year, what part of its value is due to assets in place? (Do not round intermediate calculations.)
The value due to assets in place = Next year earning per share / Market rate of return = $8/10% = $80.
c. If Trend-Line’s earnings per share will be $8 next year, what part of its value is due to growth opportunities? (Do not round intermediate calculations.)
The value due to growth opportunities = Current selling price - The value due to assets in place = $125 - $80 = $45.
Final answer:
The stock price of Trend-Line Inc. should be $125 per share considering a 6% growth rate and a 10% expected rate of return. The value due to assets in place is $80 per share, and the value due to growth opportunities is calculated as $45 per share.
Explanation:
Trend-Line Inc., which has been growing at a rate of 6% per year and is expected to continue doing so indefinitely, is expected to pay a dividend of $5 per share next year. If the market expects a 10% rate of return on Trend-Line, the price at which the stock must be selling can be determined using the Gordon Growth Model (GGM), which is P = D1 / (r - g). Substituting the provided values (P = 5 / (0.10 - 0.06)) gives a stock price of $125 per share. For the part of its value due to assets in place, given that Trend-Line's earnings per share will be $8 next year and assuming all earnings are distributed as dividends, using the same model without growth (since we are only looking at the assets in place) would give us a value of $80 per share considering a 10% required rate of return but no growth. Finally, the part of its value due to growth opportunities is obtained by subtracting the value due to assets in place from the total value ($125 - $80 = $45).
Susan Chen is a stock analyst. She values two goods: money (income) and her integrity. Her bonus is based on the number of investments she recommends to the company. Generally speaking, the higher the bonus she receives, Question 7 options: the smaller is the shift in her budget line. the more she is willing to trade off her integrity for money. the more she is indifferent to changes in the level of bonus. the less she is willing to trade off her integrity for money.
Answer:
The more she is willing to trade off her integrity for money
Explanation:
An indifference curve represents different combinations of two goods which a consumer can have, which shall yield same level of satisfaction.
Opportunity cost in case of two goods, refers to the units sacrificed or traded off of one good so as to consume more units of the other good.
In the given case, the analyst is faced with the trade off between two sources of utility or satisfaction i.e money and integrity. So if the individual wants more of one, she has to sacrifice some part of other.
Since her bonus is based upon number of investments she recommends to the company, if she'll be honest or focuses upon integrity, justness and fairness, her number of recommended investments would be lesser in comparison to the number of recommended investments if she is dishonest.
So, the higher the bonus she receives, means more the number of investments recommended by her which implies lesser integrity.
So, the higher the bonus she receives, the more she is willing to trade off her integrity for money.
The accountant at Cedric Company has determined that income before income taxes amounted to $7,000 using the FIFO costing assumption. If the income tax rate is 30% and the amount of income taxes paid would be $315 greater if the LIFO assumption were used, what would be the amount of income before taxes under the LIFO assumption?
Answer:
8050
Explanation:
he amount of income before taxes under the LIFO assumption would be:
8050 calculated as follows:
Income tax under FIFO: 7000*.30 = 2100
Income Tax under LIFO = 2100 + 315= 2415
Income before taxes under LIFO = 2415/.30 = 8050
The stockholders equity section of Martino Inc. at the beginning of the current year appears below.Common stock, $10 par value, authorized 1,090,000 shares, 353,000 shares issued and outstanding $3,530,000Paid-in capital in excess of par�common stock 686,000Retained earnings 578,000During the current year, the following transactions occurred.1. The company issued to the stockholders 142,000 rights. Ten rights are needed to buy one share of stock at $33. The rights were void after 30 days. The market price of the stock at this time was $35 per share.2. The company sold to the public a $219,000, 10% bond issue at 104. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common stock at $31 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8.3. All but 7,100 of the rights issued in (1) were exercised in 30 days.4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing.5. During the current year, the company granted stock options for 10,600 shares of common stock to company executives. The company, using a fair value option-pricing model, determines that each option is worth $10. The option price is $31. The options were to expire at year-end and were considered compensation for the current year.6. All but 1,060 shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill an obligation related to the employment contract. Collapse question part(a)Prepare general journal entries for the current year to record the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Find the given attachments for complete solution
The general journal entries for the current year are as follows: 1. Debit Cash and Credit Common Stock and Paid-in Capital in Excess of Par for the issuance of rights to stockholders. 2. Debit Cash and Discount on Bonds Payable and Bonds Payable, and Credit Paid-in Capital in Excess of Par for the sale of bonds with detachable warrants. 3. Debit Cash and Credit Common Stock and Paid-in Capital in Excess of Par for the exercise of rights.
Explanation:1. The issuance of rights to stockholders:
Debit Cash for 1,420,000 ($33 x 10 x 142,000)Credit Common Stock for $1,420,000 ($10 x 142,000)Credit Paid-in Capital in Excess of Par for $412,000 ($2 x 142,000)2. The sale of bonds with detachable warrants:
Debit Cash for $219,000 (the proceeds of the bond issue)Debit Discount on Bonds Payable for $33,600 (($100 - $96) x 142,000)Debit Bonds Payable for $227,600 ($219,000 + $8,600)Credit Paid-in Capital in Excess of Par for $3,640 ([$31 - $10] x 142,000)3. Exercise of rights:
Debit Cash for $229,000 ($33 x 7,100)Credit Common Stock for $71,000 ($10 x 7,100)Credit Paid-in Capital in Excess of Par for $158,000 ($2 x 7,100)4. Exercise of warrants and the balance remaining:
Debit Cash for $169,120 ([$31 - $8] x 10% x 142,000)Debit Paid-in Capital in Excess of Par for $7,300 ([$31 - $10] x 10% x 142,000)Credit Common Stock Warrants for $9,140 ($31 x 10% x 142,000)5. Grant of stock options:
No journal entry is required because stock options are not recorded at the time of grant6. Exercise of stock options and expiration:
Debit Cash for $305,860 ($31 x 9,540)Credit Common Stock for $95,400 ($10 x 9,540)Credit Paid-in Capital in Excess of Par for $210,460 ($21 x 9,540)Learn more about stockholder here:https://brainly.com/question/33709829
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(A) Prepare an individual income tax return.George Large (SSN 000-11-1111) and his wife Marge Large (SSN 000-22-2222) live at 2000 Lakeview Drive, Cleveland, OH 49001 and want you to prepare their 2017 income tax return based on the information below: George Large worked as a salesman for Toyboat, Inc. He received a salary of $80,000 ($8,500 of federal income taxes withheld and $1,800 of state income taxes withheld) plus an expense reimbursement from Toyboat of $5,000 to cover his employee business expenses. George must make an adequate accounting to his employer and return any excess reimbursement, none of the reimbursement was related to the meals and entertainment. Additionally, Toyboat provides George with medical insurance worth $7,200 per year. George drove his car a total of 24,000 miles during the year, and he placed the car in service on June 1, 2015. His log indicates that 18,000 miles were for sales calls to customers at the customers' offices and the remainder was personal mileage. George uses the standard mileage rate method. George is a college basketball fan. He purchased two season tickets for a total of $4,000. He takes a customer to every game, and they discuss some business before, during, and after the games. George also takes clients to business lunches. His log indicates that he spent $1,500 on these business meals. George also took a five-day trip to the Toyboat headquarters in Musty, Ohio. He was so well-prepared that he finished his business in three days, so he spent the other two days sightseeing. He had the following expenses during each of the five days of his trip: Airfare $200 Lodging $85/day Meals $50/day Taxicabs $20/day Marge Large is self-employed. She repairs rubber toy boats in the basement of their home. The total square footage of the Larges' home, including the basement, is 3,000 square feet. The portion of the basement used in Marge's business is 750 square feet. The business code is 811490. She had the following income and expenses: Income from rubber toy boat repairs $15,000 Cost of supplies 5,000 Contract labor 3,500 Telephone (business) 500 The Larges use the simplified method to figure their deduction for Marge's business use of their home. The Larges incurred the following total other expenses: Real estate taxes 2,500 Mortgage interest 4,500 Cash charitable contributions 3,500 Prepare Form 1040, Schedules A, C, and SE for Form 1040, and Form 2106 for the 2017 year. (Assume no depreciation for this problem and that no estimated taxes were paid by the Larges.)(B) In addition to the preparation of the individual income tax return for this topic, write a 300-500-word paper in which you address the following ethical issues associated with tax preparation:1. Discuss the legal and ethical aspects of accurately reporting income on tax returns using Circular 230 as published by the Department of Treasury (located in Topic Materials). Discuss one item in Section B on Duties and Restrictions and the consequences to tax preparers if they fail to adhere to the guidelines as provided by the Department of Treasury.2. Compare and contrast the concepts of "tax avoidance" and "tax evasion".3. (Optional) You are welcome to add a discussion about how ethics in taxation can correlate to the Christian worldview. In other words, what guidance from a Biblical perspective could be applied to the preparation of tax returns for clients?Prepare this assignment according to the APA guidelinesApply basic legal, tax, and ethical concepts to issues in financial reporting.
Answer:
Explanation:
prepare from 1040 to disclose Income and respective Tax
FORM 1040
Amount ($)
Salary Received 80,000
Business Income- Wn1) 2,789
Total Income 82,789
Less - Itemized wise Deduction-Wn2 21,405
Total Income 61,384
Standard deduction 11,900
Total Taxable Income 49,484
tax
From 0-$17400 10% 1,740
From $17400-$70700 15% 4,813
Total Tax Liability 6,553
Schedule A
wn2
Real Estate Tax 2,500
Interest on Mortgage 4,500
Gifts to Charity 3,500
Unreimbursed Job Expeses(FORM 2106) 10,905
Total Itemized wise Deduction 21,405
wn1
Income from rubbery toy boat 15,000
Less cost
Cost of suppies 5000
Business phone call 3500
Cost of suppies 500
Total 9000
Total Business Income 6,000
Less- FORM 8829 Expeses 3211
Business Income- 2,789
FORM 2106
Car expenses 9990
Travelling Expense 665
Meal Expenses 5500
Total 10655 5500
Less Reimbursement 5000
Total 10655 500
Expenses Allowed 10655 250
Total 10905
FORM 8829
25% is used for Business
Income from buisness 6000
Mortgage Interest' -1125
Reat estate tax -625
Utility Bills -500
Depreciation -961
Total Business Income 2789
Calculate depreciation
Lesser of fair market value or adjusted cost 1,70,000
Less - value of Land -20,000
Total 1,50,000
Basis of building 37,500
rate of depreciation 2.56%
960
A manager states that his process is really working well. Out of 1,500 parts, 1,477 were produced free of a particular defect and passed inspection. a. Calculate the defects per million opportunities (DPMO). (Round your answer to the nearest whole number.) Defects per million opportunities b. Based on Six-Sigma theory, how would you rate this performance
To calculate the DPMO, subtract defect-free parts from the total parts and multiply by 1,000,000, resulting in 15,333 DPMO. This performance falls short of Six Sigma standard, which allows for only 3.4 defects per million opportunities.
The student asked about calculating defects per million opportunities (DPMO) and assessing performance based on Six Sigma theory. To calculate DPMO for the given situation:
Subtract the number of defect-free parts (1,477) from the total parts produced (1,500). This gives us 23 defects.
Calculate the DPMO: (23 defects / 1,500 parts) * 1,000,000 = 15,333 DPMO (rounded to the nearest whole number).
Regarding the Six Sigma rating, the standard for a Six Sigma process is 3.4 defects per million opportunities. Since the calculated DPMO is 15,333, the process performance is below the Six Sigma threshold and would not be rated as Six Sigma proficient on a long term scale.
(A) The defects per million opportunities (DPMO) is [tex]15,333[/tex]. (B) A DPMO of [tex]15,333[/tex] indicates below Six Sigma quality, suggesting need for process improvement.
(A). To calculate the defects per million opportunities (DPMO), first, find the number of defective parts:
Defective parts = Total parts - Passed parts
Defective parts = [tex]1500 - 1477 = 23[/tex]
Next, calculate the DPMO using the formula:
DPMO = (Defective parts / Total parts) × [tex]1,000,000[/tex]
DPMO = [tex]\frac{23}{1500} \times 1,000,000 = 15,333[/tex]
(B). According to Six Sigma theory, DPMO values are used to assess process performance. A DPMO of approximately [tex]15,333[/tex] indicates a high level of defects relative to the total opportunities. This level of performance would typically fall below the Six Sigma quality standard, suggesting that the process may need improvement to achieve higher levels of quality and consistency.
Consider the following aggregate planning problem for one quarter: Regular Time Overtime Subcontracting Production Capacity/Month 1,000 200 150 Production Cost/Month 5 7 8 Assume that there is no initial inventory and there is forecasted demand of 1,250 units in each month in the quarter. Carrying cost is $1 per unit per month, and backlogs are not allowed. Use the transportation model to find the optimal solution. How much excess capacity is there? units What is the cost of the optimal solution? How many units are actually made by subcontracting? How many units incur a holding cost? In other words, how many are made in one month and held to meet the demand of a future month? units
Answer: $20,400
Explanation:
Optimal cost per month = Units x cost per unit
1000 x5 +200x7 +50x8
= $6,800
Optimal cost for three months = optimal cost per month x3
= 6,800 x3
= $20,400
Answer:
Check the explanation
Explanation:
The full explanation to the question can be seen in the Microsoft Excel (which is also a very useful spreadsheet program that is part of Microsoft Office suite of application software. This program present table of values and figures that are well arranged in rows and columns that can be manipulated mathematically through the use of both basic and complex arithmetic functions and operations.) in the attached images below.
Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number of Units Per Unit Total Apr. 3 Inventory 25 $1,200 $30,000 8 Purchase 75 1,240 93,000 11 Sale 40 2,000 80,000 30 Sale 30 2,000 60,000 May 8 Purchase 60 1,260 75,600 10 Sale 50 2,000 100,000 19 Sale 20 2,000 40,000 28 Purchase 80 1,260 100,800 June 5 Sale 40 2,250 90,000 16 Sale 25 2,250 56,250 21 Purchase 35 1,264 44,240 28 Sale 44 2,250 99,000
Required: 1.
Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system.
Answer:
Merchandise inventory = $32,864
Cost of merchandise sold = $310,776
Explanation:
As per the data given in the question,
Merchandise inventory = Balance of purchases on 21 April
= 26 units × $1,264 per unit
= $32,864
Calculating the ending inventory :
Details units
Ending inventory = beginning inventory + Purchase - Sale
Beginning inventory = 25 units
Add : Purchase made on
April 8 = 75 units
May 8 = 60 units
may 28 = 80 units
June 21 = 35 units
Total units for sale = 275 units
Less : Units sold on
April 11 = 40 units
April 30 = 30 units
May 10 = 50 units
May 19 = 20 units
June 5 = 40 units
June 16 = 25 units
June 28 = 44 units
Ending Inventory in units = 26 units
Cost of merchandise sold =Merchandise available for sale - (Merchandise inventory, June 30, 2016)
=$343,640 - $32,864
= $310,776
Final answer:
To calculate ending inventory and cost of goods sold using the FIFO method, aggregate all purchases, find total units sold, subtract units sold from cumulated inventory to find ending inventory, use recent purchase prices for ending inventory value, and subtract this from total cost of goods available for sale.
Explanation:
The question involves determining the ending inventory and cost of goods sold (COGS) for a period using the first-in, first-out (FIFO) method under a periodic inventory system. In the FIFO method, it is assumed that the oldest inventory is sold first. Therefore, the cost of the oldest inventory items is used to calculate COGS, while the cost of the most recently purchased items represents the ending inventory.
Step by Step Calculation:
Aggregate all purchases made during the period.
Sum up all sales in terms of units to find the total units sold.
Starting from the oldest inventory, subtract the units sold from the cumulated inventory to find the ending inventory.
Use the prices of the most recent purchases to calculate the value of the ending inventory.
COGS is then calculated by subtracting the ending inventory's value from the total cost of goods available for sale.
Because the question requires using the first-in, first-out approach, we prioritize costs based on the chronology of purchases. This method provides a systematic approach to managing inventory costs and reflects the flow of goods in many real-world situations.
The Communication Process The Communication Process model describes how communications move from the firm to the consumer and which factors affect the way the consumer perceives the message. This activity is important because as the number of communication media has increased, the task of understanding how best to reach target consumers has become far more complex. The goal of this activity is to recognize how each component of the communication process model interacts with each other and to understand what the consumer experience is at each step of the communication process. First, read the brief scenario about how Target reaches the right consumers. Then, match the communication action to the correct component of the communication process model. Target is a discount retailer that operates nearly 1,750 stores in 49 states. Target differentiates itself from its competitors by offering more upscale, trend-forward merchandise at low prices. The store is planning a Back-to-School sale aimed at moms with school-aged children going back to school; these women make the majority of their household purchases. Target works with its advertising agency to develop a message to reach the right consumers and to motivate them to take action. The message could be communicated on television or radio, or in print advertisements, and the choice must be appropriate for the target market. Since Target aims to reach bargain shoppers, it decides to advertise in the sales flyers of local papers. When the papers come out, Target's advertising director sees that Walmart (Target's major competition) has run similar ads promoting a sale at the same time. Fortunately, this has no effect on Target's campaign. As expected, a significant number of Target customers like Melissa, a mom of two school-aged children, saw the ad and headed straight to Target. In fact, significantly more consumers than usual visited Targets all around the country during the sale. Match the elements of a consumer's experience to each step of the communication process. Ad runs on local Sunday newspaper Store traffic increases Advertising agency creates print ad Target creates a Back-to-School campaign Melissa buys the paper and plans to go shopping for her children's supplies Sender Transmitter Encodes Communication Channel Receiver Decodes Feedback
Answer and explanation:
Sender: Target creates a Back-to-School Campaign
Transmitter Encodes: Advertising agency creates print ad
Communication Channel: Ad runs on local Sunday newspaper
Receiver Decodes: Melissa buys the paper and plans to go shopping for her children's supplies
Feedback: Store traffic increases
Target is the maker of the Campaign and intends to create an advertisement to communicate its offering hence it is the Sender. The Advertising agency, upon Target’s intentions, create the print ad, hence encodes the same as Transmitter. The channel of communication so chosen is that of the Newspaper hence ad runs on Sunday newspaper. The receiver is the target audience, here, Melissa who decodes and acts upon the same by going for shopping for her children’s supplies. The feedback is given by way of increase in Store traffic by the Target audience.
Answer:Sender: Target creates a Back-to-School Campaign
Transmitter Encodes: Advertising agency creates print ad
Communication Channel: Ad runs on local Sunday newspaper
Receiver Decodes: Melissa buys the paper and plans to go shopping for her children's supplies
Feedback: Store traffic increases
If the quantity of money demanded exceeds the quantity of money supplied, then:
A) the quantity of nonmonetary assets demanded exceeds the quantity supplied.
B) the quantity of nonmonetary assets supplied exceeds the quantity demanded.
C) the quantity of nonmonetary assets demanded will still equal the quantity supplied, all else being equal.
D) you can make no conclusions about the relative supply and demand of nonmonetary assets
Answer:
The answer is option B. If the quantity of money demanded exceeds the quantity of money supplied, then: the quantity of non-monetary assets supplied exceeds the quantity demanded.
Explanation:
Non-monetary assets are assets that appear on the balance sheet but are not readily or easily convertible into cash or cash equivalents. they include equipment, buildings, lands, inventory, and patents.
If the quantity of money demanded exceeds the quantity of money supplied, then the company will be forced to part with their non monetary assets to meet up their capital needs.
In this situation, the quantity of non-monetary assets supplied will exceed the quantity demanded.
When money demand exceeds money supply, there isn't any definitive conclusion that could be drawn about the demand and supply of nonmonetary assets as they're influenced by multiple dynamic factors.
Explanation:When the quantity of money demanded exceeds the quantity of money supplied, it has implications on monetary and non-monetary markets. The answer is D - you can make no definitive conclusions about the relative supply and demand of nonmonetary assets. This is because the relationships between money supply, demand, and non-monetary assets can be influenced by a variety of external and internal factors, which are not explicitly mentioned in the question. For example, an increase in the quantity of money demanded doesn't necessarily imply changes in nonmonetary assets demanded or supplied. The status of nonmonetary assets depends on broader economic conditions, consumer confidence, and business expenditures among others.
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What do you understand from the term, ‘monopoly’. Give an example of a government-created monopoly. Is creating this monopoly necessarily a bad public policy? Please explain in your own words
Answer:
A monopoly is a company that can control the market. For example the government could put a hight import tax on shoes so no one would ship shoes into the countryman this means that the only shoe brand in the country can adjust there prices of their shoes and people would still buy them because there is no other shoe brand. This shows that they have control over the market (Or sitting at at monopoly position)
A monopoly is when one entity controls a product or service market. The United States Postal Service is an example of a government-created monopoly, impacting public policy considerations.
Monopoly: A monopoly is a situation in which a single entity, either an individual or a company, dominates the market and controls the supply of a particular product or service.
Government-Created Monopoly Example: An example of a government-created monopoly is the United States Postal Service, where laws prohibit competitors from offering certain services.
Public Policy View: Creating a monopoly through government intervention can be considered as a strategic move for certain public services but may also limit competition and innovation in the long run.
The common stock of Water Town Mills pays an annual dividend of $1.84 a share. The company has promised to maintain a constant dividend even though economic times are tough. How much are you willing to pay for one share of this stock if you want to earn a 13.6 percent annual return?
Answer:
The maximum that should be paid for a share of this stock today is $13.53.
Explanation:
The price of a company's stock which pays a constant dividend through out can be calculated using the zero growth model of the Dividend discount model (DDM). The formula for price of the stock today under DDM's zero growth model is,
P0 = D / r
P0 = 1.84 / 0.136
P0 = $13.529 rounded off to $13.53
Use the following information to determine this company's cash flows from financing activities.
Net income was $467,000.
Issued common stock for $74,000 cash.
Paid cash dividend of $13,000.
Paid $120,000 cash to settle a note payable at its $120,000 maturity value.
Paid $120,000 cash to acquire its treasury stock.
Purchased equipment for $90,000 cash.
Answer:
See the explanation below.
Explanation:
Details Amount ($)
Issued common stock 74,000
Dividend paid (13,000)
Settlement of note payable (120,000)
Treasury stock acquired (120,000)
Net cash flows from financing activities (179,000)
In April 2017, PetSmart agreed to make the largest e-commerce acquisition in history to date, putting a deal in place to snatch up fast-growing pet food and product site Chewy. com for $3.35 billion. The acquisition premium for this particular deal can be calculated as the amount by which the price PetSmart offered for Chewy.com exceeded the _______.A. amount paid as a down payment for Chewy.com that was to be held in escrow until closing.B. difference between the amount that was offered for Chewy.com and the amount that was held in escrow to complete the deal.C. preacquisition market value of Chewy.com.D. fair market value of similar companies in the same geographic locale as Chewy.com.E. comparable value of similar companies to Chewy.com within the same market.
Answer: C. preacquisition market value of Chewy.com.
Explanation:
The Acquisition Premium that a company that is acquiring another pays is generally the Amount that that was paid minus the amount that the company being acquired was worth before it was purchased.
For Instance, assuming Chewy.com was valued at $3.25 billion before the Acquisition by PetSmart then the Acquisition Premium is,
= $3.35 billion - $3.25 billion
= $100 million.
In the balance sheet, this premium will more often than not be recorded as Goodwill which is defined as an Intangible Asset that is generated when a company buys another company for more than it is worth. That incremental value is the Goodwill.
Final answer:
The acquisition premium for PetSmart's acquisition of Chewy.com can be calculated by comparing the purchase price offered to Chewy.com's preacquisition market value, which is the company's value before the acquisition bid. The correct option is (C).
Explanation:
The acquisition premium for the deal where PetSmart agreed to acquire Chewy.com can be calculated as the amount by which the price PetSmart offered for Chewy.com exceeded the preacquisition market value of Chewy.com.
The preacquisition market value refers to the valuation of a company before any acquisition-related premiums are added. This is significant because it provides a baseline for the original worth of the company prior to any speculation or negotiation that may drive up its price during a takeover bid.
Acquisition premiums are thus the extra amount that buyers are willing to pay over and above this original preacquisition value to gain control of the company.
n investor is considering a $10,000 investment in a start-up company. She estimates that she has probability 0.39 of a $23,000 loss, probability 0.24 of a $8700 profit, probability 0.12 of a $31,000 profit, and probability 0.25 of breaking even (a profit of $0). What is the expected value of the profit? Would you advise the investor to make the investment? Part: 0 / 20 of 2 Parts Complete
Answer:
The expected profit is -$13,162.
I would not recomend the investor to make this investment.
Explanation:
The expected profit can be calculated multypling the probabilities of every outcome and the profit of each outcome, and substracting the total invevstment.
The outcomes are:
1) probability 0.39 of a $23,000 loss,
2) probability 0.24 of a $8700 profit,
3) probability 0.12 of a $31,000 profit, and
4) probability 0.25 of breaking even
NOTE: It is assumed that the outcomes does not include the initial investment.
Then, the expected profit of this investment is:
[tex]E(P)=[0.39*(-23,000)+0.24*8,700+0.12*31,000+0.25*0]-10,000\\\\E(P)=[-8,970+2,088+3,720+0]-10,000\\\\E(P)=-3,162-10,000\\\\E(P)=-13,162[/tex]
Answer:
company b
Explanation:
Explain in what respect the application of the Outsourcing heuristic and the composition of larger activities, as specific case of the Activity composition heuristic – can lead to similar or different results. Use the performance dimensions of the Devil’s Quadrangle and provide specific interpretations.
Answer:
Heuristic is a way to deal with critical thinking, learning, or revelation that utilizes a functional strategy not destined to be ideal or great, however adequate for the quick objectives. As it were, heuristics are systems gotten from past encounters with comparable issues. These procedures depend on utilizing promptly available, however freely material, data to control critical thinking in individuals, machines, and unique issues. The re-appropriating heuristic is like the work process mix which implies that it considers the work processes of different gatherings. The fundamental point of re-appropriating heuristic is that it will produce less cost. Anyway the quality may diminish. Let me clarify to sum things up about the interfacing heuristic methodology: it is considered as a normalized interface with customers and accomplices. One of the proportions of heuristic upgrade work process is Devil's quadrangle. Four primary measurements in the impacts of overhaul gauges in Devil's quadrangle are time, cost, quality and adaptability. This model alludes that an upgrade of a work process diminishes the time required to finish the undertaking, it improves nature of the administration conveyed, and it improves the capacity of the work process by lessening the expense. Be that as it may, in this methodology, an impromptu creation in one measurement will prompt a debilitating impact on another measurement. The re-appropriating heuristic methodology for bigger exercises will prompt various outcomes dependent on the Devil's quadrangle.
Time-Throughput time is a significant idea. It alludes to the time it takes to complete an errand/venture from begin to end. The target may be to diminish the normal throughput time for the finish of the case. In the re-appropriating heuristic methodology, the downside for the decrease of the throughput time is that the case might be dynamic. Quality-The nature of the case can be seen both from the customer's and from the laborer's side. This alludes to outside quality and interior quality. The outer quality can be estimated as the customer's fulfillment with either the item or the procedure. Inner quality alludes to the state of working in the work process. Cost-The cost engaged with the case/venture is the principle factor that is considered by everybody to lessen the expense. The customer would haggle with the operator for giving diminished expense to the task. Flexibility- It is the capacity to respond to changes. It is imperative to recognize the adaptability of the work process from different measurements. The customer and the operator ought to have the option to adjust to the evolving pattern.
Sunland Company incurs the following costs to produce 11400 units of a subcomponent: Direct materials $9576 Direct labor 12882 Variable overhead 14364 Fixed overhead 16200 An outside supplier has offered to sell Sunland the subcomponent for $2.85 a unit. If Sunland accepts the offer, by how much will net income increase (decrease)?
Answer:
$4,392
Explanation:
Sunland Company
Therefore the costs are eliminated if they outsource the manufacturing:
Direct materials $9,576
Direct labor $12,882
Variable overhead $14,364
Total $36,882
Their new cost is ($2.85 X 11,400) $32,490
$36,882 - $32,490 = $4,392
If Sunland accepts the offer the net income increase (decrease) by $4,392
Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s). ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2021 Cash Flows from Operating Activities Net income $ Adjustments to reconcile net income to net cash flows from operating activities: Net cash flows from operating activities Cash Flows from Investing Activities Net cash flows from investing activities Cash Flows from Financing Activities Net cash flows from financing activities Net increase (decrease) in cash $ 1,605 Cash at the beginning of the period 8,330 Cash at the end of the period $ 9,935 Listed below in random order are line items to be included in the statement of cash flows. Cash received from the sale of land $ 8,470 Issuance of common stock 12,625 Depreciation expense 5,375 Increase in accounts receivable 3,910 Decrease in accounts payable 1,670 Issuance of long-term notes payable 16,045 Purchase of equipment 39,415 Decrease in inventory 1,385 Decrease in prepaid rent 815 Payment of dividends 6,190 Net income 10,600 Purchase of treasury stock 2,525 Required: Prepare the statement of cash flows for ATM Software Developers using the indirect method. (List cash outflows and any decrease in cash as negative amounts. Enter your answers in thousands (i.e., 10,000,000 should be entered as 10,000).)
Answer:
Explanation:
Statement of cash flow is a statement of how activities of the income statement and statement of financial position impact the cash and cash equivalent of a company through it operating , financing and investing activities
STATEMENT OF CASH FLOW FOR ATM SOFTWARE
The figures appears to be in "000" already
Cash flow from operating activities
Net Income - 10600
Account receivable (3910)
Account payable (1670)
Depreciation expense 5375
Decrease in inventory 1385
Decease in prepaid rent 815
Net cash flow from operating activities 12595
Cash flow from investing activities
Sales of Land 8470
Purchase of equipment (39415)
Net cash flow from financing activities (30945)
Cash flow from financing activities
Issuance of stock - 12,625
long term note payable 16405
Purchase of treasury stock (2525)
Payments of dividends (6910)
Net cash flow from financing activities 19595
Net increase in cash 1605
Cash at the beginning 8330
Cash at the end 9935
The answer involves categorizing the given items into three main components of a statement of cash flows: Operating, Investing, and Financing activities. After assigning appropriate items under each category, their total sum indicates the net change in cash.
Explanation:To prepare the statement of cash flows using the indirect method, organize the given line items under the three main categories: Cash Flows from Operating Activities, Cash Flows from Investing Activities, and Cash Flows from Financing Activities.
Operating Activities:Start with net income: $10,600Add back depreciation expense (non-cash charge): $5,375Subtract increase in accounts receivable (an investment in working capital): -$3,910Add decrease in inventory (a recovery of working capital): $1,385Subtract decrease in prepaid rent (another use of cash): -$815Add decrease in accounts payable (a source of cash as liabilities are decreased): $1,670.Investing Activities:Subtract cash paid for the purchase of equipment: -$39,415Add cash received from the sale of land: $8,470Financing Activities:Add cash from issuance of common stock: $12,625Add cash from issuance of long-term notes payable: $16,045Subtract cash used for payment of dividends: -$6,190Subtract cash used for purchase of treasury stock: -$2,525After calculating each category, sum them up to find the net increase or decrease in cash.
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Rayya Co. purchases a machine for $176,400 on January 1, 2019. Straight-line depreciation is taken each year for four years assuming a seven-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service. Prepare entries to record the partial year’s depreciation on July 1, 2023, and to record the sale under each seperate situation. (1) The machine is sold for $75,600 cash. (2) The machine is sold for $60,480 cash.
Answer:
Refer explanation
Explanation:
A. Straight-line depreciation is whereby the same amount is depreciated every year throughout the life of the asset. It is calculated as:
(Cost of asset - Salvage Value) / Estimated total number of life years of asset.
The depreciation per year for the machine would be: ($176400 - 0) / 7
= $25,200
Depreciation for partial year’s depreciation as at 01 July 2023 = $25,200 / 2 = $12,600
Debit : Depreciation account : $12600
Credit : Accumulated depreciation account : $12600
B. In order to account for sale, it should be identified whether it is a profit on sale or loss on sale. This is calculated by comparing the net book value of the asset at the time of sale, and it’s sale price. If the sale price is higher than the NBV, it is a profit on sale. If the sale price is lower than the NBV, it is a loss on sale. Net book value is calculated as cost of asset - accumulated depreciation.
If the asset was purchased on January 01 2019 and sold on July 01 2023, it was used for 4.5 years. Hence, the accumulated depreciation of the asset is $25200 x 4.5 = $113400.
NBV = $176400 - $113400 = $63000
(B1) Machine is sold for $75600
Profit on sale : $75600 - $63000 = $12600
Debit : Cash : $75600
Debit : Accumulated depreciation : $113400
Credit : Profit on sale of asset : $12600
Credit : Machinery Account : $176400
(B2) Machine is sold for $60480
Loss on sale : $60480 - $63000 = $2520
Debit : Cash : $60480
Debit : Loss on sale of asset : $2520
Debit : Accumulated depreciation :$113400
Credit : Machinery Account : $176400
Final answer:
When a machine is sold during its useful life, the company needs to record the partial year's depreciation and the sale transaction.
Explanation:
When a machine is sold during its useful life, the company needs to record the partial year's depreciation and the sale transaction. In this case, the machine was sold on July 1, 2023, during its fifth year of service. To record the partial year's depreciation, the company needs to calculate the depreciation expense for the first half of the year. Since the machine has a seven-year life and is depreciated using the straight-line method, the annual depreciation expense is calculated as the initial cost divided by the useful life. Therefore, the depreciation expense for the first half of 2023 would be half of the annual depreciation expense.
The following condensed information is reported by Sporting Collectibles.
2018 2017
Income Statement Information Sales revenue $ 14,820,000 $ 9,400,000
Cost of goods sold 9,544,080 6,900,000
Net income 418,000 348,000
Balance Sheet Information Current assets $ 1,700,000 $ 1,600,000
Long-term assets 2,300,000 2,000,000
Total assets $ 4,000,000 $ 3,600,000
Current liabilities $ 1,300,000 $ 1,000,000
Long-term liabilities 1,400,000 1,400,000
Common stock 900,000 900,000
Retained earnings 400,000 300,000
Total liabilities and stockholders' equity $ 4,000,000 $ 3,600,000
Required:
Calculate the following profitability ratios for 2018
Gross profit ratio %
Return on assets %
Profit margin %
Asset turnover times
Return on equity %
Answer:
Gross profit ratio % = 35.60%
Return on assets % = 10.45%
Profit margin % = 2.82%
Asset turnover times = 3.90 times
Return on equity % = 46.44%
Explanation:
a. Gross profit ratio %
Gross profit = Sales revenue - Cost of good sold = $14,820,000 - $9,544,080 = $5,275,920
Gross profit ratio % = (Gross profit / Sales revenue) * 100 = ($5,275,920 / $14,820,000) * 100 = 35.60%
b. Return on assets %
Return on assets % = (Net income / Total assets) * 100 = ($418,000/$4,000,000) * 100 = 10.45%
c. Profit margin %
Profit margin % = (Net income / Sale revenue) * 100 = ($418,000/$14,820,000) * 100 = 2.82%
d. Asset turnover times
Average total asset = ($4,000,000 + $3,600,000) / 2 = $3,800,000
Asset turnover times = Sales revenue / Average total asset = $14,820,000/$3,800,000 = 3.90 times
e. Return on equity %
Return on equity % = (Net income / Common stock) * 100 = ($418,000/$900,000) * 100 = 46.44%
You are called in as a financial analyst to appraise the bonds of Olsen’s Clothing Stores. The $1,000 par value bonds have a quoted annual interest rate of 10 percent, which is paid semiannually. The yield to maturity on the bonds is 8 percent annual interest. There are 10 years to maturity. Compute the price of the bonds based on semiannual analysis.
Answer:
current market price of the bond is $667
Explanation:
the formula to calculate yield to maturity (YTM) is:
YTM = [C + (F - P)/n] / [(F + P)/2]
F = face value P = market price n = number of years x 2 = C = couponwe just start replacing and solve for P:
YTM = 8%C = 50F = 1,000n = 208% = [50 + (1,000 - P)/20] / [(1,000 + P)/2]
8% x (1,000 + P)/2 = 50 + (1,000 - P)/20
8% x (500 + 0.5P) = 50 + 50 - 0.05P
40 + 0.04P = 100 - 0.05P
0.04P + 0.05P = 100 - 40 = 60
0.09P = 60
P = 60 / 0.09 = 667
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki’s records show the following for the month of January. Sales totaled 260 units. Date Units Unit Cost Total Cost Beginning Inventory January 1 100 $ 75 $ 7,500 Purchase January 15 360 95 34,200 Purchase January 24 240 115 27,600 Required: Calculate the number and cost of goods available for sale. Calculate the number of units in ending inventory. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
The number of goods available for sale is 700 units, and the cost of goods available for sale is $69,300. The units in ending inventory are 440 units. The cost of ending inventory and cost of goods sold (COGS) can be determined using the FIFO, LIFO, and weighted average cost methods.
Explanation:Firstly, to find the number of goods available for sale, we add the beginning inventory and the purchases made throughout January. Hence, 100 (Beginning inventory) + 360 (First purchase) + 240 (Second purchase) = 700 units. The cost of goods available for sale is the sum of the total costs, which is $7,500 (from beginning inventory) + $34,200 (from first purchase) + $27,600 (from the second purchase) = $69,300.
Units in ending inventory can be calculated by subtracting the units sold from the number of goods available for sale, which gives 700 (Goods available for sale) - 260 (Units sold) = 440 units.
Now let's calculate ending inventory and cost of goods sold (COGS) using the FIFO, LIFO, and Weighted Average cost methods:
FIFO (First-In-First-Out): Under this method, the cost of the oldest inventory (first-in) is charged to cost of goods sold (COGS) first. And, the remaining inventory (ending inventory) is valued at the cost of the newest purchases (last-in). LIFO (Last-In-First-Out): As opposed LIFO method charges the most recent purchases (last-in) to COGS first. Ending inventory is valued at the cost of the oldest inventory units (first-in).Weighted Average cost method: This method takes a simple average of all units available during the period and uses that average cost to determine ending inventory and COGS. To get the weighted average cost per unit, you divide the cost of goods available for sale by the number of units available for sale, which would give: $69,300/700 units = $99 per unit.Learn more about Inventory Costing Methods here:https://brainly.com/question/17097250
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The number and cost of goods available for sale for Oahu Kiki are 700 units and $69,300 respectively. Using FIFO, LIFO, and weighted average methods, different values for the ending inventory and cost of goods sold can be calculated. The number of units in ending inventory is 440 units.
Explanation:Calculating Inventory and Cost of Goods SoldTo calculate the number and cost of goods available for sale, we add the beginning inventory to the purchases made during the month. Oahu Kiki's beginning inventory is 100 units at $75 each, totaling to $7,500. On January 15, they purchased 360 units at $95 each, totaling $34,200, and on January 24, they purchased 240 units at $115 each, totaling $27,600.
The goods available for sale is the sum of these amounts:
Goods available for sale = Beginning Inventory + Purchases = $7,500 + $34,200 + $27,600 = $69,300.
The total units available for sale are:
Total units = 100 + 360 + 240 = 700 units.
To find the ending inventory and cost of goods sold (COGS), we calculate as per FIFO, LIFO, and weighted average cost methods:
Since sales totaled 260 units, the ending inventory would be:
Ending inventory units = Total units - Sold units = 700 units - 260 units = 440 units.
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n much of the United States and Canada, logging takes place in both privately owned and government-owned forests. a. Privately owned forests are: private, nonrival, and excludable. public, rival, and excludable. private, rival, and nonexcludable. private, rival, and excludable
Answer:
Private, rival and excludable.
Explanation:
Privately owned forests are having the following characteristics:
(i) Rival: If one person consumes a good then this will reduce the quantity of good available to others which means that less good is available to others for consumption.
(ii) Excludable: This characteristic states that owner of a good can restrict or exclude others from the consumption of a good.
Since it is a private forests, the owner restrict others to steals the logs from his property and this make it excludable. Therefore, these two features stated in the private forests indicating that it is a private good.
Answer:
Private, Rival, Excludable
Explanation:
Since the forests are privately owned, they are private goods.
Excludable goods are those which can be feasibly prevented to be used by non payers. The private forest is being excluded from access by private owners, for forest & its resources safety (no stealing). So, it is excludable.
Rival goods are those, whose consumption by a consumer reduces their availability to be used by other consumers. Logged woods or any other forest resources extracted by one consumer, reduces their available quantity for other forest users. So, it is rival.
Owner made no investments in the business, and no dividends were paid during the year. Owner made no investments in the business, but dividends were $700 cash per month. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. Dividends were $700 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.)
Answer:
scenario 1
owner made no investment in the business and no dividend were paid during the year, there may be no income or net loss incurred by the business. there is no decrease or increase in equity.
scenario 2
owner made no investments in the business but dividend were $700 cash per month, the net income earned during the year equal $700*12 = $8,400. There is no changes in equity
scenario 3
No dividend were paid during the year but owner invested an additional $45,000 cash in exchange for common stock. There will be increase in equity by $45,000 but net income or net loss cannot be determined
scenario 4
Dividend were $700 cash per month and the owner invested additional $35,000 cash in exchange for common stock. The net Income earned will $8,400 while $35,000 will added to equity as additional capital.
Explanation:
The Woods Co. and the Speith Co. have both announced IPOs at $52 per share. One of these is undervalued by $11, and the other is overvalued by $5, but you have no way of knowing which is which. You plan to buy 1,900 shares of each issue. If an issue is underpriced, it will be rationed, and only half your order will be filled. a. If you could get 1,900 shares in Woods and 1,900 shares in Speith, what would your profit be
Answer:
$11,400
Explanation:
Data provided as per the question is below:-
Shares = 1,900
Undervalued amount = $11
Overvalued amount= $5
The computation of profit is shown below:-
Profit = Shares × Undervalue amount - Shares × Overvalued amount
= 1,900 × $11 - 1,900 × $5
= $20,900 - $9,500
= $11,400
Therefore for computing the profit we simply applied the above formula.