A publication's final deadline for supplying printing material for an advertisement is a ________________?
A. on sale date
B. Cover date
c. Closing date
D.Birth date

Answers

Answer 1

Answer:

c. Closing date

Explanation:

No advertisement is accepted for the next edition after the Closing Date.  For an ad to run after this date, the publisher has to issue written permission. Cancellations are also not accepted after this date. Unless otherwise agreed, clients are expected to make full payments for the ad by the end of the closing date.

The on-sale date is the day the issue is expected at the newsstand for customers to buy.


Related Questions

Foyle Architects incorporated as licensed architects on April 1, 2014. During the first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $21,341 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $445 per week, payable monthly.
2 Paid office rent for the month $1,067.
3 Purchased architectural supplies on account from Burlington Company $1,541.
10 Completed blueprints on a carport and billed client $2,253 for services.
11 Received $830 cash advance from J. Madison to design a new home.
20 Received $3,320 cash for services completed and delivered to M. Svetlana.
30 Paid secretary-receptionist for the month $1,780.
30 Paid $356 to Burlington Company for accounts payable due.
1.) Journalize the transactions. (If no entry is required, indicate "No entry". Record journal entries in the order presented in the problem.)
2.) Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.)
3.) Prepare a trial balance on April 30, 201

Answers

Answer:

1)

April 1 Stockholders invested $21,341 cash in exchange for common stock of the corporation.

Dr cash 21,341

    Cr common stock 21,341

April 1 Hired a secretary-receptionist at a salary of $445 per week, payable monthly.

no journal entry required

April 2 Paid office rent for the month $1,067.

Dr rent expense 1,067

    Cr cash 1.067

April 3 Purchased architectural supplies on account from Burlington Company $1,541.

Dr supplies 1,541

    Cr accounts payable 1,541

April 10 Completed blueprints on a carport and billed client $2,253 for services.

Dr accounts receivable 2,253

    Cr service revenue 2,253

April 11 Received $830 cash advance from J. Madison to design a new home.

Dr cash 830

    Cr unearned revenue 830

April 20 Received $3,320 cash for services completed and delivered to M. Svetlana.

Dr cash 3,320

    Cr service revenue 3,320

April 30 Paid secretary-receptionist for the month $1,780.

Dr wages expense 1,780

    Cr cash 1,780

April 30 Paid $356 to Burlington Company for accounts payable due.

Dr accounts payable 356

    Cr cash 356

2)

Cash

debit              credit

21,341

                      1.067

830

3,320

                      1,780

                     356

22,288

accounts receivable

debit              credit

2,253

supplies

debit              credit

1,541

accounts payable

debit              credit

                     1,541

356                        

                      1,185

unearned revenue

debit              credit

                      830

common stock

debit              credit

                      21,341

service revenue

debit              credit

                      2,253

                      3,320

                      5,573

rent expense

debit              credit

1,067

wages expense

debit              credit

1,780

3)                                                    debit            credit

cash                                            $22,288

accounts receivable                    $2,253

supplies                                         $1,541

accounts payable                                              $1,185

unearned revenue                                             $830

common stock                                                 $21,341

service revenue                                               $5,573

rent expense                                $1,067

wages expense                           $1,780                  

totals                                           $28,929     $28,929

The cost C and the revenue R for a brokerage firm depend on the number T of transactions executed. (Both C and R are measured in dollars.) It costs $730 per day to keep the office open, and brokers are paid an average of $25 per transaction. Also, $35 in fees are collected for each transaction. (a) Find a formula that gives C as a function of T. C(T) = (b) Find a formula that gives R as a function of T. R(T) = (c) Find the number of daily transactions that are needed to make the revenue $1200 more than the cost. 33 daily transactions

Answers

Answer:

C(T) = $730 + $25T

R(T) = $35T

T = 193 transactions

Explanation:

Given that:

C = cost ; R = revenue ; T = number of transactions

Amount paid per transaction = $25

Cost keeping office open = $730

Amount collected on each transaction = $35

(a) Find a formula that gives C as a function of T.

C(T) = Cost of keeping office open + (cost per transaction × number of transactions)

C(T) = $730 + $25T

(b) Find a formula that gives R as a function of T.

R(T) = (Amount collected per transaction * number of transactions)

R(T) = $35T

(c) Find the number of daily transactions that are needed to make the revenue $1200 more than the cost.

R = C + 1200

Substitute the value of R and C into the equation:

35T = 730 + 25T + 1200

35T - 25T = 730 + 1200

10T = 1930

T = 1930 / 10

T = 193 transactions

E4-2 (Static) Assigning Costs to Activity Cost Pools, Identifying a Cost Driver [LO 4-2, 4-3] Name of Budgeted CostBudgeted Cost Plant insurance$86,100 Testing raw materials 45,000 Manufacturing equipment setup 7,200 Quality inspections 57,000 Property taxes 23,000 Electricity, plant 14,000 Electricity, manufacturing equipment 51,250 Depreciation, plant 18,800 Depreciation, manufacturing equipment 36,700 Maintenance worker (manufacturing equipment) 22,500 Indirect labor (manufacturing equipment setup) 8,300 Design engineering 220,000 Required: 1. Assign each of the budgeted costs above to one of the following activity cost pools: Engineering Equipment setup Quality control Factory facilities Manufacturing equipment 2. Compute the total cost of each pool. 3. Indicate whether the activities in each

Answers

Answer:

Find attached the answer and format.

The following information is available for Trailblazer, a manufacturer of four-wheel all-terrain vehicles for its first two years of operation: 2020 2021 Vehicles produced 1,000 1,400 Vehicles sold 900 1,200 Selling price per unit $1,200 $1,200 Direct material per unit $350 $350 Direct labor per unit $220 $220 Variable manufacturing overhead per unit $40 $40 Fixed manufacturing overhead per year $112,000 $112,000 Variable selling and administrative expense per unit $20 $20 Fixed selling and administrative expense per year $35,000 $35,000 Calculate net income for 2021 using full costing. Net income $enter a net income in dollars 523000

Answers

Answer:

$537,000

Explanation:

The computation of net income for 2021 using full costing is shown below:-

Net income = Sales - Cost of goods sold - Selling and administrative expenses

= (1,200 × 1,200) - (((1,200 × (350 + 220 + 20)) + 112,000) - ((1,200 × 20) + 35,000)

= $1,440,000 - $844,000 - $59,000

= $537,000

So, for computing the net income we simply applied the above formula.

The adjusted trial balance of Gary Cooper Co. as of December 31, 2014, contains the following.
GARY COOPER CO.
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2020
Debit Credit
Cash $20,892
Accounts Receivable 8,340
Prepaid Rent 3,700
Equipment 19,470
Accumulated Depreciation-
Equipment $6,315
Notes Payable 7,120
Accounts Payable 6,892
Common Stock 21,420
Retained Earnings 12,730
Dividends 4,420
Service Revenue 13,010
Salaries and Wages Expense 8,260
Rent Expense 2,154
Depreciation Expense 251
Interest Expense 189
Interest Payable 189
$67,676 $67,676
Instructions:
(a) Prepare an income statement.
(b) Prepare a statement of retained earnings.
(c) Prepare a classified balance sheet.

Answers

Answer and Explanation:

The presentation of each of the financial statement is presented below:

1.

GARY COOPER CO.  

Income Statement  

For the Year Ended December 31, 2020  

Particulars Amount

Revenues:    

Service revenue $13,010  

Total revenue (a)  $13,010  

Less: Expenses:    

Salaries and wages expense $8,260  

Rent expense $2,154  

Depreciation expense $251  

Interest expense  $189  

Total expenses (b)   $10,854  

Net Income (a - b)  $2,156  

2.

GARY COOPER CO.  

Retained Earnings Statement  

For the Year Ended December 31, 2020  

Particulars  Amount  

Beginning balance of Retained earnings $12,730  

Add: Net income  $2,156  

Less: Dividends     -$4,420  

Ending balance of Retained earnings $10,466  

3.

GARY COOPER CO.  

Balance Sheet  

For the Year Ended December 31, 2020  

Assets:    

Cash     $20,892  

Accounts receivables $8,340  

Prepaid rent $3,700  

Equipment 19470  

Less: Accumulated depreciation

on equipment ($6,315) $13,155  

Total Assets  $46,087  

Liabilities and Stockholder's Equity:    

Current Liabilities:    

Accounts payable $6,892  

Notes payable       $7,120  

Interest payable $189  

Total Current liabilities  $14,201  

Stockholder's equity:    

Common stock  $21,420  

Retained earnings $10,466  

Total Stockholder's Equity   $31,886  

Total Liabilities and Stockholder's Equity  $46,087  

6. Blackberry announces that they are going bankrupt within the next 6 months. What happens to the demand for Blackberry
phones?

Answers

Your mom lol yahahajahahahahahahj

CostPercent Complete Materials costs$ 5,80050% Conversion costs$ 6,50030% A total of 7,700 units were started and 6,600 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Materials costs$ 85,300 Conversion costs$ 168,000 The ending inventory was 70% complete with respect to materials and 10% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:

Answers

Answer:

$11.49

Explanation:

The computation of cost per equivalent unit for materials for the month in the first processing department is shown below:-

Equivalent units for materials

= Units completed and transferred out + Units in ending inventory

 (6,600 × 100%) + ((800 + 7,700 - 6,600) × 70%)

= 6,600 + $1,330

= 7,930 units

Cost per equivalent unit for materials

= (5,800 + $85,300) ÷ 7,930

= $11.49

Streamsong Credit Bank is offering 5.4 percent compounded daily on its savings accounts. Assume that you deposit $5,100 today. a. How much will you have in the account in 6 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.) b. How much will you have in the account in 12 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.) c. How much will you have in the account in 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.)

Answers

Answer & Explanation:

a. How much will you have in the account in 6 years?

The formula for Compound Interest is;

= Amount deposited ( 1 + rate)^no of periods

Rate is a yearly rate so daily rate is;

= 5.4%/365

No. of periods;

= 365 * 6

= 2,190‬ days

= 5,100 * ( 1 + 5.4%/365)^2,190

= $7,051.33

b. How much will you have in the account in 12 years?

No. of periods = 365 * 12

= ‭4,380‬ days

= 5,100 * ( 1 + 5.4%/365)^4,380

= $9,749.27

c. How much will you have in the account in 24 years?

No. of periods = 365 * 24

= ‭8,760‬ days

= 5,100 * ( 1 + 5.4%/365)^8,760

= $18,636.92

Assume that the following events occurred at a division of Generic Electric for March of the current year:
1. Purchased $100 million in direct materials.
2. Incurred direct labor costs of $46 million.
3. Determined that manufacturing overhead was $76 million.
4. Transferred 90 percent of the materials purchased to work-in-process.
5. Completed work on 75 percent of the work-in-process. Costs are assigned equally across all work-in-process.
6. The inventory accounts have no beginning balances. All costs incurred were debited to the appropriate account and credited to Accounts Payable.
Required:
Give the amounts for the following items in the Work-in-process account: (Do not round your intermediate calculations. Enter your final answers in millions rounded to 2 decimal places.)
Transfers-In ____ Million
Transfers-Out ______ Million
Ending Balance _____ Million

Answers

Answer:

Transfers-In

= Direct materials + Direct labor costs + Manufacturing overhead

= (90% * 100) + 46 + 76

= $212 million

Transfer-Out

= Cost transferred in * work completed

= 212 * 75%

= $159 million

Ending Balance

= Cost transferred in - Cost transferred out

= 212 - 159

= $53 million

The following information is available for Trinkle Company for the month of June:1. The unadjusted balance per the bank statement on June 30 was $81,5002. Deposits in transit on June 30 were $3,1503. A debit memo was included with the bank statement for a service charge of $404. A $5,611 check written in June had not been paid by the bank5. The bank statement included a $950 credit memo for the collection of a note. The principal of the note was $900, and the interest collected amounted to $50RequiredDetermine the true cash balance as of June 30. (Hint: It is not necessary to use all of the preceding items to determine the true balance.)

Answers

Answer:

$79,039

Explanation:

The computation of the true cash balance is shown below:

Particulars                                               Amount

Unadjusted Balance

as Per Bank Statement on Jun 30 $81,500

Add: Deposit in Transit Jun          $3,150

Les : Outstanding Check Jun30         -$5,611

True Cash Balance As on Jun 30 $79,039

We simply applied the above format so that the correct value could come

According to the Law of Supply and Demand, what will happen when supply increases?

A Quantity supplied will decrease
B Demand will decrease
C Productivity will decrease
D Prices will decrease

Answers

D when supply goes up prices go down

A business has fixed costs of $45,000 per month and a variable costs of $32,000 per month . What is the average total cost of 7,700 units

Answers

Answer:

$10 per unit

Explanation:

The average total cost (AC) is the estimated per-unit cost in a given output.  The formula for calculating the average cost

=(Total fixed costs + total variable costs) / number of units produced = average total cost.

Adding Total fixed cost to total variable cost equal to Total cost (TC)

For this business, the average total costs

=$45,000  + $32,000 /7,700

=$77,000/7700

=$10

AC= $10 per unit

At peak times, your restaurant serves 50 meals per hour that require a grill. Two meals can be on the grill at once and the average meal requires 6 minutes on the grill. How many grills do you need? ANSWER 3

Answers

Answer:3 grills

Explanation: Each grill can cook 20 meals in an hour so 3 grills is needed, the restaurant could cook 60 meals in one hour

On July 1, 2018, Gupta Corporation bought 25% of the outstanding common stock of VB Company for $140 million cash. At the date of acquisition of the stock, VB net assets had a total fair value of $480 million and a book value of $280 million. Of the $200 million difference, $44 million was attributable to the appreciated value of inventory that was sold during the last half of 2018, $128 million was attributable to buildings that had a remaining depreciable life of 10 years, and $28 million related to equipment that had a remaining depreciable life of 5 years. Between July 1, 2018, and December 31, 2018, VB earned net income of $60 million and declared and paid cash dividends of $52 million.

Required:
1. Prepare all appropriate journal entries related to the investment in 2016, assuming equity method.
2. Determine the amounts to be reported by Gupta

a. As an investment in Gupta's 2016 balance sheet.
b. As investment revenue or loss on Gupta's 2016 income statement
c. Among investing activities in Gupta's statement of cash flows.

Answers

Answer:

Please below and attached detailed solution.

Explanation:

1. Prepare all appropriate journal entries related to the investment in 2016, assuming equity method - Please see attached detailed solution

2. Determine the amounts to be reported by Gupta;

a. As an investment in Gupta's 2016 balance sheet = $126.4 million

b. As an investment revenue or loss on Gupta's 2016 income statement = $0.6 million

c. Among investing activities in Gupta's statement of cash flow = $140 million.

Please find attached solution to the questions and answers above.

Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,450 monthly. The contract currently sells for $114,000. a. What is the monthly return on this investment vehicle? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the APR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. What is the effective annual return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Answers

Answer:

a. 1.27%

b. 15.24%

c. 16.35%

Explanation:

a. What is the monthly return on this investment vehicle?

The formula for the value of a Perpetuity is;

Value = Payment/ rate

Rate = Payment/ Value

Rate = 1,450/114,000

= 0.0127

= 1.27%

b. What is the APR?

APR is the annual rate. The above figure is the monthly rate.

APR = Monthly rate * 12

= 1.27 * 12

= 15.24%

c. What is the effective annual return?

Effective annual return = [1 + (APR/n)]^n – 1

n is the number of compounding periods which is 12 here for monthly compounding.

= [1 + (15.24%/12)]^12– 1

= 16.35%

Explain the following statement and answer to corresponding question. It is worth 15 points. "In a competitive model without consideration of space (distance) we would expect competition to lead to identical prices but when we include spatial elements we expect competition to lead to different delivered prices." If individuals have to pay a different price for products because they live a different distance from the factory do you think this is an example of discrimination of prices? Why or why not?

Answers

Answer:

In marketing, price discrimination refers to selling the same product to different buyers at different prices depending on each buyer's purchasing power or preferences which result in them being able and willing to pay different prices. E.g. a movie theater that charges different prices depending on the age of the movie goers.

In this case, the fact that a factory is located far away from your house might result in a higher price due to delivery costs, but that doesn't meant that it is using price discrimination. E.g. I just purchased a new refrigerator online and I had to pay a delivery fee that increased its price because the seller is from another state. I purchased the refrigerator from that retailer because it lower prices including delivery costs, but someone that purchased it from the same city will probably pay even less than me. But it is just logistics, since I live far away I have to wait 3 days for delivery and pay for it.

Companies in the U.S. car rental market vary greatly in terms of the size of the fleet, the number of locations, and annual revenue. In 2011, Hertz had 320,000 cars in service and annual revenue of approximately $4.2 billion. Suppose the following data show the number of cars in service (1,000s) and the annual revenue ($ millions) for six smaller car rental companies. Company Cars (1,000s) Revenue ($ millions) Company A 11.5 118 Company B 10.0 137 Company C 9.0 100 Company D 5.5 37 Company E 4.2 42 Company F 3.3 34

Answers

Answer:

The question does not include any requirements, so I looked for similar questions:

Use the least squares method to develop the estimated regression equation. For every additional car placed in service, estimate how much annual revenue will change.

1) Y = -14.95 + 12.82X

2) for every 1 thousand cars put into service, revenue should increase by $12.82 million.

See attached PDF for calculations

On January 1, 2020, Pearl Company makes the two following acquisitions.
1. Purchases land having a fair value of $360,000 by issuing a 5-year, zero-interest-bearing promissory note in the face amount of $606,621.
2. Purchases equipment by issuing a 7%, 8-year promissory note having a maturity value of $560,000 (interest payable annually). The company has to pay 11% interest for funds from its bank.
(a) Record the two journal entries that should be recorded by Pearl Company for the two purchases on January 1, 2020.
(b) Record the interest at the end of the first year on both notes using the effective-interest method.

Answers

Answer:

a) journal entry to record land purchase

January 1, 2020

Dr Land 360,000

Dr Discount on notes payable 246,621

    Cr Notes payable 606,621

journal entry to record purchase of equipment

January 1, 2020

Dr Equipment 444,725.96

Dr Discount on notes payable 115,274.04

    Cr Notes payable 560,000

present value of $560,000 using bank interest rate = $560,000 / 1.11⁸ = $242,998.84

annual interest payment = $560,000 x 7% = $39,200

PV of annuity = $39,200 x 5.1461 (PV annuity factor, 11%, 8 periods) = $201,727.12

total present value of notes payable = $242,998.84 + $201,727.12 = $444,725.96

discount on notes payable = $560,000 - $444,725.96 = $115,274.04

b) interest expense for the first notes payable (used to purchase land) = $360,000 x 11% = $39,600

December 31, 2021, accrued interest expense on notes payable 1

Dr Interest expense 39,600

    Cr Discount on notes payable 39,600

interest expense for the second note

interest expense = $444,725.96 x 11% = $48,919.86

cash paid = $560,000 x 7% = $39,200

discount on notes payable = $48,919.86 - $39,200 = $9,719.86

December 31, 2021, accrued interest expense on notes payable 2

Dr Interest expense 48,919.86

    Cr Cash (or interest payable) 39,200

    Cr Discount on notes payable 9,719.86

7. What is not an example of a spending mistake?
A Paying only the minimum payments on your credit card each month.
B Spending more than you make.

C Paying all of your bills on time. W
D Paying your cable bill late.

Answers

C even though it a liability still but a roof over your head

Jason sell appliances at Best Buy. He earns 12% on his total sales for the
week. Last week he made $690.48, what were his total sales for the week?
$3246.38
$1380.96
$5754
$7234.98

Answers

Answer:

$5754

Explanation:

Jason earns a 12% commission on total sales.

If he earned $690.48 last week, it means that 690.48 was equivalent to 12% of total sales.

i.e., 690.48 = 12% of total sales

Total sales = 100%

If 12% = 690.48

100% =690.48/12 x 100

=57.54 x 100

=$ 5,754

Which is not a part of the definition of economics?

A consumption

B production

C evaluation

D Distribution

Answers

A consumption
Hope this help!!

Answer:

a

Explanation:

Cost data for D5-6b Company for the most recent year appears below: Direct labor ....................................... $138,000 Insurance on the factory building .................. $ 22,000 Indirect materials ................................. $ 53,000 Sales commissions .................................. $ 80,000 Factory supervisor's salary ........................ $ 64,000 Depreciation on copier in the sales office ......... $ 21,000 Property tax on the factory building ............... $ 13,000 Wages paid to factory janitors ..................... $ 40,000 Advertising ........................................ $ 46,000 CEO's Salary ....................................... $149,000 Utilities on the factory ........................... $ 37,000 D5-6b Company reported the following inventory balances during the most recent year: January 1 December 31 Direct materials $82,000 $68,000 Work in process $27,000 $44,000 Finished goods $91,000 $51,000 During the most recent year, D5-6b Company purchased direct materials totaling $148,000 and reported sales revenue of $500,000. Calculate D5-6b Company's cost of goods manufactured for the most recent year.

Answers

Answer:

cost of goods manufactured= $512,000

Explanation:

First, we need to calculate the direct materials used, direct labor, and manufacturing overhead:

Direct material= 82,000 + 148,000 - 68,000= $162,000

Direct labor= 138,000

Overhead= Insurance on the factory building + Indirect materials +  Factory supervisor's salary + Property tax on the factory building + Wages paid to factory janitors + Utilities on the factory

Overhead= 22,000 + 53,000 + 64,000 + 13,000 + 40,000 + 37,000

Overhead= $229,000

Now, to calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 27,000 + 162,000 + 138,000 + 229,000 - 44,000

cost of goods manufactured= $512,000

Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 38,000 units, 100% complete as to materials and 55% complete as to conversion. Units started and completed: 123,000. Units completed and transferred out: 161,000. Ending Inventory: 36,500 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $56,000. Costs in beginning Work in Process - Conversion: $61,850. Costs incurred in February - Direct Materials: $375,730. Costs incurred in February - Conversion: $612,150. Calculate the cost per equivalent unit of conversion.

Answers

Answer:

cost per equivalent unit of conversion = $4.10

Explanation:

beginning WIP = 38,000

100% complete for materials

55% complete for conversion, 45% remaining to be completed

units started and completed = 123,000

units completed and transferred out = 161,000 (including 38,000 of beginning WIP)

ending WIP = 36,500

100% complete for materials

25% complete for conversion

equivalent units processed during this period:

materials = 123,000 + 36,500 = 159,500 EUP

conversion costs = (38,000 x 0.45) + 123,000 + (36,500 x 025%) = 149,225 EUP

cost per equivalent unit of conversion = $612,150 / 149,225 EUP = $4.102194672 ≈ $4.10

On January 1, Year 1, the City Taxi Company purchased a new taxi cab for $39,000. The cab has an expected salvage value of $4,000. The company estimates that the cab will be driven 200,000 miles over its life. It uses the units-of-production method to determine depreciation expense. The cab was driven 48,000 miles the first year and 51,000 the second year. What would be the depreciation expense reported on the Year 2 income statement and the book value of the taxi, respectively, at the end of Year 2

Answers

Answer:

depreciation expense year 2 = $8,925

book value end of year 2 = $21,675

Explanation:

depreciable value = $39,000 - $4,000 = $35,000

total miles driven = 200,000

depreciation expense per mile driven = $35,000 / 200,000 miles = $0.175 per mile driven

depreciation expense year 1 = 48,000 x $0.175 = $8,400

book value end of year 1 = $39,000 - $8,400 = $30,600

depreciation expense year 2 = 51,000 x $0.175 = $8,925

book value end of year 2 = $30,600 - $8,925 = $21,675

motors are packaged for sale in a certain warehouse. The motors sell for $100 each, but a double-your-money-back guarantee is in effect for any defectives the purchaser may receive (i.e. the seller pays buyer $200 for any defective item). Find the expected net gain for the seller if the probability of any one motor being defective is 0.08. (Assume that the quality of any one motor is independent of that of the others.) Show all work by defining the variables of interest and its distributions.

Answers

Answer:

$840

Explanation:

the question misses an important detail, number of motors.

I used 10 as the total number of cars. from the solution i believe you would be able to solve any other problem of this sort yourself.

n = 10

p = 1-probability of any 1 motor being defective

= 1-0.08

= 0.92

going further in solving this problem, i will use the binomial distribution

we have expected value as;

Σxp(x)

= $100 x p(of 100) - $100 x p(of losing 100)

= 100(0.92) - 100(0.08)

= 92 - 8

= $84

from here we multiply 84$ by n

remember n =  total number of cars = 10

10 x $84

= $840

Paul White, the CFO of Crane Automotive, Inc., is putting together this year's financial statements. He has gathered the following balance sheet information: The firm had a cash balance of $23,015, accounts payable of $163,257, common stock of $313,000, retained earnings of $512,159, inventory of $212,300, goodwill and other assets equal to $78,656, net plant and equipment of $713,500, and short-term notes payable of $21,115. It also had accounts receivable of $141,258 and other current assets of $11,223. How much long-term debt does Crane Automotive have

Answers

Answer: $170,421

Explanation:

Using the Accounting equation;

Assets = Liabilities + Equity

Assets = Cash + Inventory + Goodwill and other assets + Net plant and equipment + Accounts receivable + Other current assets

= 23,015 + 212,300 + 78,656 + 713,500 + 141,258 + 11,223

= $1,179,952

Equity

= Common stock + Retained earnings

= 313,000 + 512,159

= $‭825,159‬

Liabilities = Assets - Equity

Current Liabilities + Long term debt = Assets - Equity

Long term debt = Assets - Equity - Current Liabilities

= 1,179,952 - ‭825,159‬ - (163,257 + 21,115)

= $170,421

The CEO would like to see higher sales and a forecasted net income of $1,000,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization increase by 6% and interest expenses will increase by 5%. The tax rate, which is 40%, will remain the same. (Note that while the tax rate remains constant, the taxes paid will change.) What level of sales would generate $1,000,000 in net income? If necessary, round your answer to the nearest dollar at the end of the calculations.

Answers

Answer:

The numbers are missing, so I looked for a similar question, but the ones I found had different numbers. I hope it can help you understand how to solve this one:

Hermann Industries is forecasting the following income statement:

sales $8,000,000 operating costs excluding depr & amort. 4,400,000 EBITDA $3,600,000 depreciation & amortization 800,000 EBIT 2,800,000 Interest 600,000 EBT 2,200,000 Taxes (40%) 880,000 Net income 1,320,000

The CEO would like to see higher sales and a forecasted net income of 2,500,000. Assume that operating costs (excluding depreciation and amortization) are 55% of sales and that depreciation and amortization and interest expenses will increase by 10%. the tax rate, which is 40%, will remain the same. what level of sales would generate 2,500,000 in net income?

We have to first calculate net income before taxes:

net income = net income before taxes x 60%

net income before taxes = $2,500,000 / 0.6 = $4,166,667

now, net income before taxes = EBIT - interests

$4,166,667 = EBIT - ($600,000 x 110%)

EBIT = $4,166,667 + $660,000 = $4,826,667

now it's EBITDA turn:

EBITDA = EBIT + depreciation and amortization

EBITDA = $4,826,667 + ($800,000 x 110%) = $5,706,667

finally:

total sales = EBITDA + operating costs excluding depr & amort., we can replace total sales by X

X = EBITDA + 0.55X

0.45X = $5,706,667

X = $5,706,667 / 0.45 = $12,681,482.22 ≈ $12,681,482

sales level that will result in a $2,500,000 net income = $12,681,482

You would like to combine a risky stock with a beta of 1.5 with U.S. Treasury bills in such a way that the risk level of the portfolio is equivalent to the risk level of the overall market. What percentage of the portfolio should be invested in Treasury bills? (Formula: Portfolio beta = w1 * beta 1 + w2 *beta 2; w1+w2 = 1) Round your answer to the integer. Note that the answer needs to be in PERCENTAGE. Weight in stock = Blank 1. Fill in the blank, read surrounding text. 67 % Weight in T-Bill = Blank 2. Fill in the blank, read surrounding text. 33 %

Answers

Answer:

33.33%

Explanation:

Let weight of T-bill be x, therefore weight of stock will be 1-x

Portfolio = Weight of stock*Beta of stock + Weight of T-bills*Beta of T-bills

1 = (1-x)*1.5 + x*0

1 = 1.5 - 1.5x

x = 0.5/1.5

x = 0.3333

x = 33.33%

Therefore, the percentage of the portfolio invested in treasury bills is 33.33%.

Azule Co. manufactures in two sequential processes, cutting and binding. The two departments report the information below for a recent month. Cutting Binding Beginning work in process Transferred in from cutting dept. $ 1,250 Direct materials $ 1,070 2,766 Conversion 3,400 3,350 Costs added during March Direct materials $ 10,140 $ 9,456 Conversion 11,100 18,725 Transferred in from cutting dept. 17,110 Transferred to finished goods 33,000 Determine the ending balances in the Work in Process Inventory accounts of each department.

Answers

Answer:

Cutting $8,600

Binding $19,657

Explanation:

Calculation to Determine the ending balances in the Work in Process Inventory accounts of each department

Ending work in process:

Cutting = $1,070 + $3,400+ $10,140 + $11,100- $17,110

Cutting = $8,600

Binding = $1,250 + $2,766 + $3,350+ $9,456+ $18,725 + $17,110 - $33,000

Binding= $19,657

Therefore the ending balances in the Work in Process Inventory accounts of each department is:

Cutting $8,600

Binding $19,657

Exercise 10-19 (LO. 4) Candlewood LLC started business on September 1, and it adopted a calendar tax year. During the year, Candlewood incurred $6,500 in legal fees for drafting the LLC's operating agreement and $3,000 in accounting fees for tax advice of an organizational nature, for a total of $9,500 of organizational costs. Candlewood also incurred $30,000 of preopening advertising expenses and $24,500 of salaries and training costs for new employees before opening for business, for a total of $54,500 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. How much can Candlewood deduct as organizational expenses

Answers

Answer:

deduction for organizational expenses = $5,000

Explanation:

Since the total startup costs are over $50,000 then the company's deduction will be lower. Generally speaking, a company can deduct up to $5,000 in organizational an startup costs ($5,000 each). But if the costs are over $50,000, then your deduction will be reduced by $1 for each dollar over that threshold.

In this case, organizational costs were $9,500, so they can deduct $5,000 during the first year and $4,500 will be amortized over the next 15 years. Startup costs are $54,500, which means that they can only deduct $5,000 - ($54,500 - $50,000) = $500 during the first year. The remaining $54,000 must be amortized over a 15 year period. Total deduction during the first year = $5,000 + $500 = $5,500

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