Answer:
Dr Cash $15,900
Cr Notes Receivable $15,000
Cr Interest Revenue $900
Explanation:
Preparation of the journal entry that should be made by Marsh Land to bring the accounting records up to date.
Dr Cash $15,900
($15,000+$900)
Cr Notes Receivable $15,000
Cr Interest Revenue $900
Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had net fixed assets of $25 million, and other non-current assets of $2 million. The firm has current liabilities of $2 million, long-term debt of $10 million, common stock of $3 million, and retained earnings of $25 million. What amount of current assets did this firm have
Answer:
See below
Explanation:
Given the information above,
Total asset = Current asset + Net fixed assets + Other non current assets
= Current asset + $25m + $2m
= Current asset + $27m
= Long term debt + equity
= 10m + $3m + $25m
= $38m
Current liabilities = $2m
Since current liabilities = Total asset - (long-term debt + equity)
$2m = (current asset + $27m) - $38m
$2m = current asset + $27m - $38m
Current asset = $2m - $27m + $38m
Current asset = $13m
Plastic and Co manufactures industrial plastic containers. As petroleum prices fall, the price of plastic materials also falls. As a result,
a: Plastic and Co’s marginal cost curve will shift.
b: The market price for the plastic containers will rise, other things equal.
c: The fixed cost curve for Plastic and Co would shift downward.
d: Average cost curve of plastic containers will shift upward.
When ________, a competitive firm will produce and earn economic profits.
a: marginal revenue is rising
b: marginal costs are decreasing
c: marginal revenue is above average costs
d: marginal revenue = average total cost = marginal costs
Plastic and Co's marginal cost curve will move. The fixed cost curve for Plastic and Co would move below.
Therefore, the correct answer is option a: Plastic and Co’s marginal cost curve will shift.
What is marginal revenue?Marginal revenue exists in the increase in income that happens from the deal of one additional unit of product.
If the market price obtained by a completely competitive firm directs it to construct at a portion where the price stands more significant than the average cost, the company will accumulate profits.
Therefore, the correct answer is option c: marginal revenue is above average costs.
To learn more about Marginal revenue refer to:
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State and explain elements of organizational structure?
Elements of organizational structure are; (1) design jobs, (2) departmentalization, (3) establish reporting relationships, (3) distribute authority, (5) coordinating activities, and (6) differentiating among positions.
Higher debt utilization ratios will always increase a firm's return on equity given a positive return on assets.
A. True
B. False
Answer:
A. True
Explanation:
The debt utilization ratios is used to determine the comprehensive picture for the long term financial health of the company or the solvency of the company.
The debt ratio is defined as the financial ratio which shows the percentage of the assets of an organization which are provided through a debt. When the ratio is higher, the risk involved with the operation of the firm is more.
Thus, for a high debt utilization ratio, it will always increase the return of the organization on the equity for a positive return on the assets of the organization.
Thus, the answer is TRUE.
David works for a cookie company downtown. He earns $7 per hour. In a typical week, he works 22 hours. His employer provides overtime pay equal to 3 times his normal wage if he works past 40 hours. The company also provides a 8% commission on all cookies sold. How much can David make this week if he works 30 hours and sells $1100 worth of cookies
Answer:
$242
Explanation:
Calculation to determine How much can David make this week
Earnings for David =( 22*$7) + (1100*8%)
Earnings for David=$154*$88
Earnings for David= $242
Therefore How much can David make this week is $242
Pharoah Construction Company earned $403,000 during the year ended June 30, 2017. After paying out $225,794 in dividends, the balance went into retained earnings. If the firm's total retained earnings were $847,042 at the end of fiscal year 2017, what were the retained earnings on its balance sheet on July 1, 2016
Answer:
See below
Explanation:
Given the above,
The retained earnings for June 2017
If net profit = retained earnings + dividend
Retained earnings = earnings - dividend payout
$403,000 - $225,794
= $177,206
Therefore, the retained earnings on it's balance sheet on July 1 2013 would be;
= Total retained earnings at the end of the fiscal year 2017 - Retained earnings
= $847,042 - $177,206
= $669,836
The US Federal System is the voting method for passing a bill into law. It involves 100 members of the Senate, 435 members of the House of Representatives, the vice president, and the president, for a total of 537 voters. For a bill to pass, it must have a majority in the House, a majority in the Senate, with the possibility of the vice president breaking a tie, and the signature of the President; or if the president opposes the bill, it must have a 2/3 super-majority in both the House and Senate to override the veto. Otherwise the bill is defeated. Think of this as a social choice function where the alternatives are A, to pass the bill, or B, to defeat the bill. Does the US federal system satisfy:
a. the anonymity criterion
b. the neutrality criterion
c. the monotonicity criterion
d. the decisiveness criterion
Answer:
correct answer is B nun else
A mid-sized firm plans to issue 10 million shares during an IPO. The underwriter plans to sell shares at $24.45; however, many investors believe the company should be valued at $34.25 per share. If the underwriter charges a $1.1 million fee to undertake the IPO, how much will the firm raise in the IPO
Answer:
The answer is "[tex]\$243,400,000[/tex]".
Explanation:
The medium-sized company proposes to issue 10 million IPO shares.
Its Contractor intends to purchase [tex]$24.45;[/tex] this implies cash flows from
[tex]\to 10,000,000 \times 24.45= \$244,500,000[/tex]
When the contractor pays an IPO cost of million, the company shall
In the IPO this would raise
[tex]\to \$186,000,000 - \$1,100,000 = \$243,400,000[/tex]
Suppose your roommate. Clara is starting à room cleaning business on your campus. There are five potential workers. Each is willing to work for the following daily wage:
Person Daily wage requirement
Alex $110
Diane $130
Cedric $150
Peter $170
Suppose that each person could clean eight rooms in a day and that Clara charges $21 for each room that is cleaned. How marry workers should Clara hire?
Answer:
3 workers
Explanation:
It is given that Clara is opening a room cleaning business on the campus. For Clara, there are 5 potential workers.
The daily wage of for the worker are :
Alex --- [tex]\$ 110[/tex]
Diane -- [tex]\$ 130[/tex]
Cedric -- [tex]\$ 150[/tex]
Peter -- [tex]\$ 170[/tex]
Zekta -- [tex]\$ 190[/tex]
Each of the worker will clean 8 rooms and $ 21 will be charged for each room to be cleaned.
Therefore, the number of the workers required is :
The marginal revenue product for each worker = 21 x 8 = 168
So, Clara will hire only those workers who have daily wage less than $ 168.
Therefore, Clara will hire 3 workers, namely Alex, Diane and Cedric.
Suppose a project financed via an issue of debt requires six annual interest payments of $20 million each year. If the tax rate is 21% and the cost of debt is 6%, what is the value of the interest rate tax shield
Answer:
$4,200,000
Explanation:
Given :
Annual interest payment = $20 million
Tax rate = 21%
Cost of debt = 6%
The value of the interest rate tax shield is given by :
The tax rate * annual interest payment
Tax rate = 21% = 21/100 = 0.21
Annual interest payment = $20,000,000
The value of interest rate tax shield = (0.21 * $20,000,000) = $4,200,000
According to the CAPM, what is the market risk premium given an expected return on a security of 18.7%, a stock beta of 1.3, and a risk-free interest rate of 7%
Answer: 9%
Explanation:
The market risk premium given an expected return on a security of 18.7%, a stock beta of 1.3, and a risk-free interest rate of 7% will be calculated as:
Expected return = risk free rate + Beta × market risk premium
= (18.7% - 7%)/1.3
= (0.187 - 0.07)/1.3
= 0.117/1.3
= 0.09
= 9%
The market risk premium is 9%.
USAco exports videos containing Brewer baseball highlights from the Lopes-Royster era (each video lasts only 30 seconds) on which USAco earns annual gross income of $1.5 million. USAco's video production facility is located in Sheboygan, Wisconsin. On all export sales, title passes in the country of the foreign customer. Which one of the following statements is true?
a. USAco has $1.5 million of foreign-source income.
b. Because USAco purchases the videos that it exports, USAco has $.75 million of foreign-source income.
c. USAco cannot take a foreign tax credit because USAco purchases the videos in the United States.
Answer:
USAco
Export of Videos
The true statement is:
c. USAco cannot take a foreign tax credit because USAco purchases the videos in the United States.
Explanation:
A foreign-source income is income generated from exports of goods and services or arising from the income generated by a U.S. foreign subsidiary. Foreign tax credit is granted to US entities that have foreign subsidiaries to avoid double taxation of the foreign income.
How do you compute net income for a merchandiser. Multiple choice question. Revenues - expenses. Net sales - cost of goods sold. Cost of goods sold - other expenses. Net sales - cost of goods sold - other expenses. g
Answer:
Net income for a merchandiser is computed as:
Net sales - cost of goods sold - other expenses.
Explanation:
Net sales are the sales revenue after deducting sales discounts and allowances. The cost of goods sold represent the beginning inventory of merchandise and current period's purchases less the ending inventory. The difference between the net sales and the cost of goods sold is called the gross profit. From this, other expenses incurred in running the business and generating sales are deducted, including income taxes to arrive at the net income.
The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory (60% complete) on October 1. During October, 3,900 tons were completed. The ending work in process inventory on October 31 was 300 tons (25% complete). What are the total equivalent units for conversion costs?
Answer:
$3,855
Explanation:
Calculation to determine the total equivalent units for conversion costs
Whole Units Percent conversion added in period Equivalent units for Conversion
Inventory in process , beginning
200 40% (100-60%) 80 (200*40%)
Started and completed in October
3,700 100% 3,700 (3,700*100%])
Transferred out of rolling 3,900 $0 $0
Inventory in process, Ending 300 25% 75 (300*25%)
Total Equivalent units for conversion $3,855
(80+3,700+75)
Workings:
Calculation to determine the Started and completed
Using this formula
Started and completed = Total completed - Beginning inventory
Let plug in the formula
Started and completed= 3,900 - 200
Started and completed = 3,700
Therefore the total equivalent units for conversion costs is $3,855
A simulation model is used to test the impact of the number of sample customers at a supermarket. As the model is run the decision maker watches the average number of customers in the store rapidly increase from zero until it levels off and holds a constant value. The simulation model is:_________ a. not valid due to the lack of change. b. in steady state c. not valid due to the fluctuation in the statistics. d. a random variable.
Answer:
b. in steady state
Explanation:
As we know that the simulation model should be applied at the time when the number of samples with respect to the customers should be tested. Also it considered for the decision making purpose that shows the average no of customers that instantly increased from the 0 unit in the case when the level is off and also hold the same value. So here the simulation model should be considered as in the steady rate
Therefore the option b is correct
The most recent financial statements for Alexander Co. are shown here: Income Statement Balance Sheet Sales $ 45,650 Current assets $ 19,020 Long-term debt $ 37,970 Costs 36,450 Fixed assets 69,250 Equity 50,300 Taxable income $ 9,200 Total $ 88,270 Total $ 88,270 Taxes (24%) 2,208 Net income $ 6,992 Assets and costs are proportional to sales. The company maintains a constant 35 percent dividend payout ratio and a constant debt-equity ratio. What is the maximum dollar increase in sales that can be sustained assuming no new equity is issued
Answer:
$4,533.05
Explanation:
Return on equity (ROE) = Net income / Equity
Return on equity (ROE) = $6,992 / $50,300
Return on equity (ROE) = 13.9%
Retention ratio = 1 - Dividend payout ratio
Retention ratio = 1 - 35%
Retention ratio = 65%
Sustainable growth rate = [13.9%*65%] / [1 - 13.9%*65%]
Sustainable growth rate = 0.09035 / 0.90965
Sustainable growth rate =0.09932392
Sustainable growth rate = 9.93%
Maximum dollar increase = Sales * Sustainable growth rate
Maximum dollar increase = $45,650 * 9.93%
Maximum dollar increase = $4,533.05
How to wear black formal shoes?
Answer:
Go in for a traditional shirt-jeans outfit and pair it with black formal shoes. A plaid shirt, pair of blue jeans and black dress shoes is how you'll want to rock it! Get that macho look right by wearing a leather jacket over a formal shirt and jeans. Your shoes will complement the jacket perfectly.
Explanation:
FAS 13 sets forth four criteria for determining whether or not a lease must be classified as a capital lease. How many of these criteria must be met for capital lease classification?a. all fourb. threec. twod. only onee. depends on the limit set by the lessee
Answer:
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Explanation:
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Can anyone explain the popularity of the Types of housing in the UK for me?
Explanation:
Save
There are numerous different types of residential properties to be found throughout the United Kingdom. However, not all may be suitable for your unique requirements. Let’s take the guesswork out of the picture by listing all of the most common variants as well as the bespoke aspects of each. You can then make an informed and educated decision at the appropriate time.
It is currently estimated that there are more than 25 million residential properties throughout the United Kingdom. From detached homes and flats to bungalows and cottages, you have a host of amazing options at your disposal. There is still no doubt that finding the most appropriate structure for your needs can be a bit tricky. Let us examine these and other variants in greater detail. What are the advantages of specific properties? What does each have in store? How will price come into play? These important questions deserve a great deal of attention if you hope to obtain the insight and clarity required to make the best choice possible.
Detached Houses
As the name already suggests, detached houses do not share any walls with a separate structure. They also tend to have both front and back gardens. Associated with a greater degree of privacy when compared to other variants, these units are often ideal solutions for those who have children. The median price for a detached house (at the time that this article was written) is £242,286. If you are curious to know the worth of your property, feel free to use our online house valuation tool at your disposal.
Semi-Detached Houses
As the name suggests, the only major difference between a detached house and a semi-detached property is that semi-detached homes share at least one wall with an existing structure that is separately owned. Not only does this save a great deal of space, but these variants are also noticeably cheaper when compared to fully detached houses. This is why the average 2018 value of these structures was £225,674. The only possible concern is that semi-detached houses do not offer the same level of privacy as their detached alternatives.
Terraced Housing
These are actually some of the most well-known and iconic housing types within the United Kingdom. Terraced houses are connected by a single wall on either side; leading to a literal “row” of structures that occupy a street. The main advantage here is that this type of construction saves a great deal of space. This is why they are quite popular within urban districts where land is at a premium. The prices of these properties are also somewhat lower due to the fact that front or back gardens are sometimes absent from their design (although some may contain small front yards). According to government figures compiled in January 2018, the average price for a terraced home is £194,167.
End-of-Terrace Houses
The only main difference between end-of-terrace houses and the terraced counterparts mentioned previously is that these structures are found at the terminal of a row of homes. In other words, only one wall is shared with an adjacent structure. This is why such houses are often found at the end of a road or on a cul-de-sac. This is also the reason why end-of-terrace homes are priced slightly higher. Some studies have found that these structures cost as much as 18 per cent more than normal terraced homes.
Flats
There is no doubt that flats are by far the most well-known types of homes in the UK. Often being offered as a series within a single building, flats are known for their space-saving qualities as well as their convenience. These structures can either be rented on a contractual basis or purchased (the former is quite common). Flats are ideal for single individuals or those with small families due to the fact that they are often much more affordable when compared to detached or semi-detached houses. In fact, the average rental price of a flat (taking into account both urban and rural locations) is approximately £650. Purchase prices will naturally vary and if you would like to get a better idea of what flats have recently sold for in your area, take a look at our sold house price tool.
Converted Flats
The name for these types of residential properties is actually a bit of a misnomer. Converted flats are often houses that have been split into two sections; a top and bottom half. Either of these can be considered a flat while the other portion is normally where the owner resides. Please note that larger structures can be divided into multiple sections (such as individual bedroom-bathroom combinations) which can be rented separately. Depending upon the property in question, converted flats may or may not offer front and back gardens. The price of these locations fluctuates; depending upon issues such as the age of the property, its overall size and the cost of renting a section out to a customer.
On March 1, 2017, Eckert and Kelley formed a partnership. Eckert contributed $82,500 cash and Kelley contributed land valued at $60,000 and a building valued at $100,000. The partnership also assumed responsibility for Kelley’s $92,500 long-term note payable associated with the land and building. The partners agreed to share income as follows: Eckert is to receive an annual salary allowance of $25,000, both are to receive an annual interest allowance of 10% of their beginning-year capital investment, and any remaining income or loss is to be shared equally. On October 20, 2017, Eckert withdrew $34,000 cash and Kelley withdrew $20,000 cash. After the adjusting and closing entries are made to the revenue and expense accounts at December 31, 2017, the Income Summary account had a credit balance of $90,000.Required:1a. & 1b. Prepare journal entries to record the partners' initial capital investments and their subsequent cash withdrawals.1c. Determine the partners’ shares of income, and then prepare journal entries to close Income Summary and the partners' Withdrawals accounts.2. Determine the balances of the partners' capital accounts as of December 31, 2017.
Answer:
Eckert and Kelley Partnership
1 Journal Entries:
Debit Cash $82,500
Credit Eckert, Capital $82,500
To record the contribution made by the partner.
Debit Land $60,000
Debit Building $100,000
Credit Long-term note payable $92,500
Credit Kelley, Capital $67,500
To record the contribution made by the partner.
Debit Income Summary $90,000
Credit Eckert, Capital $58,250
Credit Kelley, Capital $31,750
To record the sharing of net income by partners.
Debit Eckert, Capital $34,000
Credit Cash $34,000
To close cash withdrawal by Eckert to the capital account.
Debit Kelley, Capital $20,000
Credit Cash $20,000
To close cash withdrawal by Kelley to the capital account.
2. Balances of the Partners' Capital Accounts as of December 31, 2017:
Eckert Kelley
Balances $106,750 $79,250
Explanation:
a) Data and Calculations:
Eckert Kelley
Capital contributions:
Cash $82,500
Land $60,000
Building 100,000
Long-term note payable (92,500)
Assets' bases $82,500 $67,500
Annual salary allowance 25,000
Annual interest allowance 8,250 6,750
Cash drawings 34,000 20,000
Net income at December 31, 2017 = $90,000
Sharing of net income:
Eckert Kelley Total
Annual salary allowance 25,000 $25,000
Annual interest allowance 8,250 6,750 15,000
Sharing of profit (1:1) 25,000 25,000 50,000
Total $58,250 $31,750 $90,000
Analysis:
Cash $82,500 Eckert, Capital $82,500
Land $60,000 Building $100,000 Long-term note payable $92,500 Kelley, Capital $67,500
Eckert, Capital $34,000 Cash $34,000
Kelley, Capital $20,000 Cash $20,000
Income Summary $90,000 Eckert, Capital $58,250 Kelley, Capital $31,750
Balances of the Partners' Capital Accounts as of December 31, 2017:
Eckert Kelley
Assets' bases $82,500 $67,500
Income summary 58,250 31,750
Cash withdrawals (34,000) (20,000)
Balances $106,750 $79,250
Division of labor and specialization
Answer:
B-Enables workers to learn a variety of skolls
Explanation:
If a perfectly competitive firm raises its price, the quantity demanded of its product ____________. a. diminishes temporarily in the short run b. falls to zero c. stays the same d. falls below marginal cost
Answer:
B. Fall to Zero
Explanation:
In a perfectly competitive market, product cost are all relatively the same. If a firm decides to raise its price on a product it's demanded quantity becomes relatively nonexistent due to the other competitors whos prices have either remained the same or even dropped in price.
A company purchased land for its natural resources at a cost of $1,500,000. It expects to mine 2,000,000 tons of ore from this land. The residual value of the land is estimated to be $250,000. What is the amount of depletion per ton of ore
Answer:
$0.625
Explanation:
Depletion expense per ton of ore = (Cost of the asset - Salvage value) / Number of units
Depletion expense per ton of ore = ($1500000 - $250000) / 2000000
Depletion expense per ton of ore = $1250000 / 2000000 units
Depletion expense per ton of ore = $0.625
So, the amount of depletion expenses per ton of ore is $0.625.
Explain in your own words what is known as a business?
Explanation:
a business is a company owned by someone. it could be a retail, trade, or occupation. they sell goods and needs
Examine a product that has recently changed prices when you were at the grocery store in the past week. Analyze one determinant of supply and demand that has created the price to increase or decrease in your example. How did the change in demand or supply affect the market price in your example
Answer:
In the store the bread seemed to have a higher demand this week. When we went monday the shelfs were full of bread and the bread was 3.75 and when we went saturday it was 3.99. I think because it was in higher demand the bread went uo in cost so they wouldn't sell out.
The Jackson-Timberlake Wardrobe Co. just paid a dividend of $2.15 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 10.5 percent on the company's stock.
Required:
a. What is the current stock price?
b. What will the stock price be in 3 years?
c. What will the stock price be in 15 years?
Answer and Explanation:
The computation is shown below:
1.
Current price = D1 ÷ (Required return - Growth rate)
= (2.15 × 1.04) ÷ (0.105 - 0.04)
= $34.4
2. the stock price be in 3 years is
= $34.4 × (1.04)^3
= $38.70
3. the stock price be in 15 years is
= $34.4 × (1.04)^15
= $61.95
Hence, the same should be relevant for the above calculations
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6 Purchased calculators from Ivanhoe Co. at a total cost of $1,740, terms n/30.
9 Paid freight of $60 on calculators purchased from Ivanhoe Co.
10 Returned calculators to Ivanhoe Co. for $64 credit because they did not meet specifications.
12 Sold calculators costing $560 for $780 to Fryer Book Store, terms n/30.
14 Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $24.
20 Sold calculators costing $530 for $770 to Heasley Card Shop, terms n/30.
Required:
Journalize the September transactions.
Answer:
well to be honest she bought to much stuff so im not sure why shes even buying all that but she does have to money so i guess its ok?
Explanation:
assume that in the short run a firm is producing 800 units of output, has average total costs of $150, and has cost of $100. the firm's total variable costs are?
Answer:
$80,000
Explanation:
Missing word "and has average variable costs of $100"
Note: AVC = Average variable cost, TVC = total variable cost
AVC = TVC / Output
$100 = TVC/800 units
TVC = $100*800 units
TVC = $80,000
So, the firm's total variable costs are $80,000.
Using information that was accurate in the year 2012, categorize each member state according to whether it was a member state using the euro, a member state not using the euro, or not a member state.
You are currently in a sorting module. Turn off browse mode or quick nav, Tab to items, Space or Enter to pick up, Tab to move, Space or Enter to drop.
European Union member state using the euro
European Union member state not using the euro
Not a member of the European Union
Answer:
European Union member state using the euro.
SlovakiaFrance ItalyAll three of the above nations are members of the EU using the Euro which enables easier transactions with the rest of the Union. France still prints and manages their old currency, the Franc for its previous colonies in West Africa.
European Union member state not using the Euro.
SwedenUnited KingdomHungaryThese three countries still use their own currency with Sweden using the Krona, the British still using the Pound and the Hungarians still using the Forint. The British were still members of the EU in 2012 but have since left the Union.
Not a member of the European Union
UkraineNorwayThese two nations are not part of the EU but have very significant ties to the European Union's markets.
Proponents of the LIFO inventory cost flow assumption argue that this costing method is superior to the alternatives because it results in better matching of revenue and expense. The recent purchase costs to the Cost of Goods Sold account results in better matching of revenue and expense.
a. True
b. False
Answer: True
Explanation:
The assumption of the LIFO method is that the most recent goods which are added to the inventory of a company have been sold first.
This brings about a better matching of the cost incurred and the revenue since the most recent products added are the ones which are then sold first. Therefore, the correct option is True.