LIFO LIquIdatIonDuring July, Laesch Company, which uses a perpetual inventory system, sold 1,240 units from its LIFO-based inventory.which had originally cost 518 per unit. The replacement cost is expected to be $27 per unit.RequiredPlease respond to the following two independent scenarios as requested.a. Case 1: In July, the company is planning to reduce its inventory and expects to replace only 900 of these units byDecember 31, the end of its fiscal year.(1) Prepare the entry in July to record the sale of the 1,240 units.(2] Discuss the proper financial statement presentation of the valuation account related to the 1,240 units sold.(3) Prepare the entry for the replacement of the 900 units in September at an actual cost of $31 per unit.b. Case2~ In July, the company is planning to reduce its inventory and expects to replace only300 of its units by December 31, the end of its fiscal year.(1) Prepare the entry in July to record the sale of the 1,240 units.(2] In December, the company decided not to replace any of the 1,240 units. Prepare the entry required on December 31 toeliminate any valuation accounts related to the inventory that will not be replaced.

Answer:

1.The interest expense Kieso reported at the end of its last fiscal year: $5,700

2. The interest expense Kieso reported at the end of its curent fiscal year: $28,500

Explanation:

The interest amount Kieso Company had to pay for the loan:

($760,000 x 9%)/12 x 6 = $34,200

In Kieso's fiscal year ends on December 31, the company had borrowed the $760,000 for one month. Following the Accrual basis, Kieso would report at the end of its last fiscal year the interest expense for 1 month:

$34,200/6 = $5,700

At the end of its current fiscal year, the company would report the interest expense for remainder months (5 months):

$34,200/6 x 5 = $28,500

Answer:

Please see attachment

Explanation:

Please see attachment

Answer:

C. A type of servant leadership in which clients and front-line personnel are at the top of the organizational hierarchy.

Explanation:

Inverting the pyramid is a management theory in which employees are empowered and have freedom to make decisions. They do not have to rely on top-down management where decisions are only made at the top and then passed down.

This type of management gives high consideration to opinions of employees and also clients.

Answer:

C. A type of servant leadership in which clients and front-line personnel are at the top of the organizational hierarchy.

Explanation:

The inverted pyramid its a way of approaching a company's chart that places de CEO in the bottom of the hierarchy and the customers on top.

The most remarkable advantage about this type of organization is that the communication between member of the organizations is maximized and the team becomes flexible and responsive.

This employee oriented focus adds value to the customer's happiness with the company and importance to the customer-employee interaction.

Answer:

Please see attachment

Explanation:

The attachment necessary journal of the given information . The attachment aims to present the necessary journal entry  about  On January 1, 2019, Brooks, Inc., borrows $90,000 from a bank to purchase machinery. Brooks signs a 5 percent installment note requiring four annual payments of principal plus interest.

Answer:

Explanation:

DR Machinery (asset) 90000

CR       loan (liability)  9000.

machinery purchased on loan

DR instalment payable 22500

DR Interest expense 4500        

CR            Bank      27000

loan instalment and interest expense payment

interest calculation = 90000 × 5/100 = 4500

DR instalment payable 22500

DR Interest expense    3375    

CR              Bank      25875

loan instalment and interest expense payment

interest calculation = (90000 - 22500)× 5/100 = 3375

DR instalment payable 22500

DR Interest expense    2250

CR              Bank       24750

loan instalment and interest expense payment

interest calculation = (90000 - 22500 - 22500)× 5/100 = 2250

DR instalment payable 22500

DR Interest expense    1125

CR              Bank      23625  

loan instalment and interest expense payment

interest calculation = (90000 - 22500 - 22500 - 22500)× 5/100 = 1125

Answer:

The correct answer is letter "D": It is the rate investors demand for loaning funds.

Explanation:

The market interest rate us the current interest offered on cash deposits which are determined by their supply and demand according to their duration, amount, and the type of security offered. The market interest rate is mostly used in bank deposits but it can also be implemented in some other type of assets such as corporate bonds.

Answer:

Aveerage selling of common stock is $0.67 per share

Explanation:

GIVEN DATA:

Common stock -   par value is $0.10/ share

Retained earning is $700 million

common stock $88 million

paid in capital = $500

sum of stock holder equity $1288 million

Total capital paid is = (88 +  500) million = $588 million

therefore

Average selling price is[tex]= \frac{588}{880} = $0.67[/tex]per share

where [tex][ \frac{88}{0.1} = 880][/tex]

So, Aveerage selling of common stock is $0.67 per share

The answer provides detailed journal entries for recording July and August sales, including cash and credit sales as well as loyalty points redemption.

Journal Entry for July and August Sales:

Cash Sales: Debit Accounts Receivable $173,000, Debit Sales Revenue $173,000, Credit Loyalty Points $13,000, Credit Sales Revenue $160,000.

Credit Sales: Debit Accounts Receivable $43,000, Debit Sales Revenue $43,000, Credit Loyalty Points $3,000, Credit Sales Revenue $40,000.

Journal Entry for Loyalty Points Redemption in August:

Cash Sales: Debit Loyalty Points $19,200, Credit Sales Revenue $16,000, Credit Discounts on Sales $3,200.

Credit Sales: Debit Accounts Receivable $4,800, Debit Discounts on Sales $960, Credit Sales Revenue $5,760.

Answer:

C. 3,000

Explanation:

Treasury stock, are those that the company repurchase from the market and keep it in the company, in this case the company keep the shares in the accounting and the shares could be reissued in the future.

The company issued 9,000 shares, it is reflected in the Common Stock account,  $90.000 / $10 = 9,000.

Then in the Treasury Stock account are registered the shares that the company repurchases from the market, these are, 6,000 shares.

Finally the total Common Shares outstanding are 3,000.

Answer:

5.79 times

Explanation:

The computation of the Accounts receivable turnover ratio  

= Credit sales ÷ average accounts receivable

where,  

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($46,400 + $49,700) ÷ 2

= $48,050

And, the net credit sale is $278,000

Now put these values to the above formula  

So, the answer would be equal to  

= $278,000 ÷ $48,050

= 5.79 times

Answer:

None of above options are correct. 7.8% .

Explanation:

Rf = 5.5% - 1.5% = 4%

Rhri = 4% + 1.8*(10.5% - 4%) = 15.7%

Rlri = 4% + 0.6*(10.5% - 4%) = 7.9%

Difference = 15.7% - 7.9% = 7.8%

The difference (in percentage points) in the required returns for HRI and LRI is 7.8%

Answer:

6.50%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.  

Given that,  

Present value = $978.94

Face value = $1,000  

PMT = 1,000 × 6% ÷ 2 = $30

NPER = 5 years × 2 = 10 years

The formula is shown below:  

= Rate(NPER,PMT,-PV,FV,type)  

The present value come in negative  

So, after solving this,  the answer would be 6.50%

Answer:

$ 659000

Explanation:

Please see attachment

Answer:

The correct answer is letter "C": Cover of a sales contract.

Explanation:

A cover of a sales contract in law refers to the actions a buyer carries out to diminish the damages to his or her business because of a breach in a contract agreed with a seller. Initially, the buyer and the seller agreed in the transfer of goods or services but the seller fails. So, to avoid loses, the buyer sets a series of actions to continue with his business as if the breach has never happened.

The requested behaviour may violate the act because the Act forbids debt collectors from using unfair or abusive methods to collect debts. The request of this debt collection agency is unjust because Michigan has a six-year statute of limitations on debt collection.

Debt collection is a regulated activity that occurs when a creditor hires an outside company to recover past-due payments.

The given requested behaviour of asking the client to “either accept the settlement offer within 20 days, or pay off the full amount after day 20 but before day 45, failing to do so will result in the filing of a lawsuit to collect the debt” violates the Fair Debt Collection Practices Act.

This happened because the Act prohibits debt collectors from using unfair or abusive language to collect the debt.

Therefore, The debt collection agency's request is unjust because Michigan has a six-year statute of limitations on debt collection.

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Answer:

By doing so, people have clear guidance of the priorities and focus on them exclusively, while spending less time arguing about the details or insignificant items.

Explanation:

There is a chain of achieving ultimate goals, in which goals are set for long run, and further are divided in some short term goals.

The short term goals are aligned with budgets and in this circle or chain of connections the budgets are ultimately synchronized with the goals of the company.

These provide for targeting the goals, set objectives and policies which are followed, and avoiding any discrepancies, as that could occur while achieving the goals.

Answer:

Please see attachment

Explanation:

Please see attachment

Here is the completed table:  

                                        Amount (in dollars)

Consumption                          $5,100.00

Investment                                   0

Government spending                0

Export                                        $1,000

Import                                         $-3,600

Net export                                $-2,600

GDP                                          $2500

Gross domestic product is the sum of final goods and services produced in an economy in a given period.

GDP calculated using the expenditure approach = Consumption spending by households on durable and non durable goods + Investment spending  + Government spending + Net export

Net export = exports – imports

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Answer:

The correct answer is A that is $120,000.

Explanation:

The value of one or single bathroom is computed as:

Value of single bathroom = Category 2 cost - Category 1 cost

= $185,000 - $170,000

= $15,000

The value of the subject property is computed as:

Value of the subject property = Category 3 cost - Value of single bathroom

= $135,000 - $15,000

= $120,000

Answer:

B) losses you avoided by not buying a stock that has since decreased in price

Explanation:

If a stock has not been bought, there has not been a transaction involving that particular stock. Even though, in theory, you may have avoided losses by not buying a stock that has decreased in price, there hasn't been any actual gain or loss on investment related to that stock since there was no investment.

Since all other alternatives present valid parameters when calculating return on investment, the answer is B).

Answer:

$1,910 unfavorable

Explanation:

The computation of the variable factory overhead controllable variance is shown below:

= Standard variable factory overhead  - Actual variable factory overhead

where,  

Standard variable factory overhead equals to

= 4,200 units ×  7 standard hours per unit × $2.70 per hour

= $79,380

And, the other items values would remain the same

Now put these values to the above formula

So, the value would be equal to

= $79,380 - $77,470

= $1,910 unfavorable

Answer:

d. technical designer

Explanation:

In a decision support system, the technical designer is responsible for the implementation of the DSS and handle issues like data storage, file structuring, response time and security measures.

Model builders are responsible for providing specifications for the model.

Managerial designers are responsible for defining management issues and providing the requirements of what the model should do.

Users are not involved in the development or implementation of the DSS.

Therefore, the answer is d. technical designer

Answer:

C) $90.00

Explanation:

Solution:

Contribution Margin per customer = Revenues per customer - Variable Expenses per customer

Revenues per customer = 60,000 / 300 = 200

Variable Expenses per customer = 33,000 / 300 = 110

Contribution Margin per customer = 200 - 110

= $90.00

Therefore Correct Answer = Option C (Contribution Margin from each corporate customer = $90.00

Answer:

c $90.00

Explanation:

Contribution Margin per customer = Revenues per customer - Variable Expenses per customer

Answer:

The expected return of your portfolio = 12.42%

Explanation:

At first we have to determine the weight for each of the stock by multiplying number of shares by stock price.

W = 525 x $43 = $22,575

X = 780 x $29 = $22,620

Y = 435 x $94 = $40,890

Z = 680 x $51 = $34,680

Total = $120,765

Stock  Capital                 Weight(W)                  Expected Return(R)     W x R

W         $22,575       (22,575/120,765)=0.1869             10                     1.8693

X          $22,620       (22,620/120,765)=0.1873             15                    2.8095

Y          $40,890       (40,890/120,765)=0.3386            11                     3.7246

Z          $34,680        (34,680/120,765)=0.2872            14                    4.0208

                                                                                                              = 12.42%

To calculate the expected return of a portfolio, multiply the number of shares of each stock by its price and its expected return. Sum up the products for all the stocks and divide by the total number of shares in the portfolio. The expected return of the portfolio is $6.11.

To calculate the expected return of a portfolio, you need to multiply the number of shares of each stock by its price and its expected return. Then, sum up the products for all the stocks and divide by the total number of shares in the portfolio. In this case:

Expected return of stock W = 525 * $43 * 0.10 = $2,272.50

Expected return of stock X = 780 * $29 * 0.15 = $3,441

Expected return of stock Y = 435 * $94 * 0.11 = $4,670.10

Expected return of stock Z = 680 * $51 * 0.14 = $4,394.40

The total expected return of the portfolio is the sum of the expected returns of each stock, which is $2,272.50 + $3,441 + $4,670.10 + $4,394.40 = $14,778.00. Finally, divide the total expected return by the total number of shares in the portfolio:

Total number of shares = 525 + 780 + 435 + 680 = 2,420

Expected return of the portfolio = $14,778.00 / 2,420 = $6.11

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Answer:

wages expense         600.00 debit

wages income tax payable 88.00 credit

FICA tax payable                 45.90 credit

wages payable                   466.10 credit

--to record accrued wages for Tami Strand's--

wages payable 466.10 debit

            cash                      466.10 credit

--to record payment to Tami Strand's--

Explanation:

Tami wages for the week:

40 hours x $10 rate =        400 dollars

10 hours x $20 rate =       200 dollars

total wages for the week 600 dollars

FICA tax: 600 x 7.65% = 45.9

gross pay                    600.00 dollars

income tax witholding 88.00 dollars

FICA tax                       45.90 dollars

net pay:                      466.10 dollars

Answer:

A. Consolidate and merge international unions.

Answer:

c. $9.50 each.

Explanation:

For computing the selling price, first we have to compute the total price of three cakes which is shown below:

The sale value of three cakes would be

= $3 per cake × 3 cakes

= $9

And, the producer surplus is $19.50

So, the total price of cake equals to

= $9 + $19.50

= $28.50

And, the number of cake is 3

So, the selling price would be

= $28.50 ÷ 3 cakes

= $9.50 each

Final answer:

Nick is selling his homemade chocolate cakes for $9.50 each to experience a producer surplus of $19.50 from selling three cakes. The calculation is based on the difference between the selling price and the production cost, multiplied by the quantity sold. The correct answer is option c.

Explanation:

To calculate the price at which Nick is selling his chocolate cakes, we need to understand the concept of producer surplus. Producer surplus is the difference between what producers are willing to accept for a good versus what they actually receive. Given that the cost to make one cake is $3 and Nick's total producer surplus from selling three cakes is $19.50, let's calculate the selling price per cake.

Since producer surplus is the difference between the selling price and the production cost, multiplied by the quantity sold, we can use the formula:

Producer Surplus = (Selling Price - Cost to Produce) × Quantity Sold

Putting the known values into this formula, we get:

$19.50 = (Selling Price - $3) × 3

Now, we solve for the Selling Price:

$19.50 = 3 × (Selling Price - $3)

$19.50 = 3 × Selling Price - $9

3 × Selling Price = $19.50 + $9

3 × Selling Price = $28.50

Selling Price = $28.50 / 3

Selling Price = $9.50

Nick must be selling his cakes for $9.50 each to experience a producer surplus of $19.50 from selling three cakes, which corresponds to answer choice c.

Answer: To afford to retire

Explanation: The life cycle theory was established by Modigliani in 1957. This theory states that a rational individual manages its expenses with the motive of saving sufficient amount till his or her retirement.

As per this theory, the individual consumes almost same amount of income which leads to the situation of borrowing in times of low income and savings in times of high income.

However the minor differences leads to savings high than borrowings in times of low income the individual significant lowers his or her capital expenditure.

Final answer:

The average operating assets are $425,000, the Margin is 10.49%, the Turnover is 1.25, and the Return on Investment is 13.1%.

Explanation:

To calculate the average operating assets for East Mullett Manufacturing, we take the sum of the operating assets at the beginning and end of the year and divide by two. Therefore, the average operating assets = (Operating Assets Beginning of Year + Operating Assets End of Year) / 2 = ($390,000 + $460,000) / 2 = $425,000.

To find the Margin, divide the operating income by sales and multiply by 100 to get a percentage: Margin = (Operating Income / Sales) × 100 = ($55,750 / $531,250) × 100 = 10.49%.

The Turnover, or asset turnover ratio, is calculated by dividing sales by average operating assets: Turnover = Sales / Average Operating Assets = $531,250 / $425,000 = 1.25.

Lastly, the Return on Investment (ROI) is determined by multiplying margin by turnover: ROI = Margin × Turnover = 10.49% × 1.25 = 13.11%. Since ROI is expressed as a percentage, we leave it as is, so it's 13.1% when rounded to one decimal place.

Answer:

In relation to the skills gap, Peter Cappelli argues that companies should restructure the way they think about the "recruitment and selection" step of the strategic human resource management process

Explanation:

The skill gap is a gap that exists between the on-the-job skills an employer expects an employee to have and the skills the employee actually has.

According to Peter Cappelli, organizations should consider changing the way they approach recruiting and selecting new employees.

He argues that there are qualified candidates with relevant skill sets, that organizations do not find due to certain strict recruitment and selection requirements.

He believes that if organizations restructure their recruitment processes, become less picky and reduce the use of certain screening softwares that filter out such qualified candidates, then there will be less complaints about the skills gap.

Answer:

A

Explanation:

The efficiency of the banking system is not a determinant of cash flows. However, the speed at which customers process checks can lead to either delay or accelleration of receipts and payments thus affecting cash flows. The payment arrangment of customers can impact on cash flows as a longer debtors collection period will lead to decrease in cash inflows and vice versa. Monetary policy can affect cash flows as the tools for monetary policies can affect the cash supply in the economy thereby affecting cash flows either positively or negatively.

Cash flow does not rely on the monetary policy of the Federal Reserve. Option (d) is correct.

The net amount of cash and cash equivalents coming into and going out of a business is referred to as cash flow. Money spent and money received reflect inflows and outflows, respectively.

Fundamentally, a company's capacity to produce positive cash flows—or, more specifically, to maximize long-term free cash flow (FCF)—determines its potential to add value for shareholders. FCF is the cash a company generates from its regular business activities after deducting any funds used for capital expenditures.

Therefore, Option (d) is correct.

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Answer:

This means that Directors are free of all ties to the CEO and the company.

Explanation:

Director Independence means a director on the board of directors of an organization should have no ties or links to the organization or any member of that organization.

Non-interlocking directorship means that a director in a firm should not be a director, or part of the management team, in another competing firm.

Top-ranked boards would prefer to avoid interlocking directorship when appointing a board member, and also that an independent director selected to be part of the board, has no previous ties to the company or any of its employees.