Answer:
$228,000.00 and $193,840.00
Explanation:
Gross profit is the gain from business transactions before adjusting for operating expenses. It is obtained by deducting the direct cost from net sales. The Cost of Goods sold represents direct expenses.
In this case:
Gross profit = Net sales - COGS
Gross profit = $821,400 - $593,400
Gross profit =$228,000.00
Calculating operating expenses:
Gross profit - operating expenses = net income
In this case, gross profits = $228,000 , net income = $34,160
i.e.,$228,000 -Operating expenses =$34,160
Operating expences = $228,000 - $34,160
operating expences = $193,840.00
Please answer! Giving brainilest to correct answer :)
Alexis and Damian are both taking a course on picking a career. They go to the same art club so they both know what they enjoy doing. Surprisingly, Alexis and Damian might find careers in the Architecture and Construction Career Cluster that allow them to express themselves through art. Create a list of possible jobs in this cluster that could use an artistic person and explain a task that each job does that the two students might particularly enjoy.
Answer:
Explanation:new energy technologies
Find the value of - such that 0.7286 of the area lies between -z and z ?
Answer:
0.7286) hoy por York HD HD babe tour y con dont canales know josh work funciona como know para descargar Windows AndroidOne of the reason why there's a need for human resource planning
Cowboys DE Demarcus Lawrence agrees to new three-year, $40M deal
Answer: The Cowboys r signing defensive end DeMarcus Lawrence to a new 3-year deal worth $40 million, according to NFL Network’s Ian Rapoport (IG) and Tom Pelissero. Lawrence will get $30 million guaranteed and he will become the 1st player at his position to have 7 straight seasons of his contract fully guaranteed.
Explanation:
:P
According to your Competitive Strategies reading from Harvard Business Publishing, the capability of market sensing provides the value of:
By using Competitive Strategies the capability of market sensing provides the value of
delivering high profitability and elevating a company's brand position.
What is Competitive Strategies?Competitive Strategies serves as strategies that is been used by company in a competive market to get high profit and to remain in the market.
It helps the company to deliver high profitability.
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All managers are by necessity leaders.
O True
O False
Answer: true
Explanation:
Answer:
True
Explanation:
Both leaders and managers are critical for business success. ... The term "manager" is often associated with someone who tells other people what to do, while a "leader" inspires others to do their best through their words and actions without dictating.
The Arc Electronic Company had an income of 80 million dollars last year. Suppose the mean income offirms in the same industry as Arc for a year is 100 million
dollars with a standard deviation of 15 million dollars. If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will
carn more than Arc did last year? Round your answer to four decimal places
Answer:
23.89% probability that a randomly selected firm will earn more than Arc did last year
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation, the score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the value, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will earn more than Arc did last year?
This is 1 subtracted by the value of Z when X = 85. So
has a value of 0.7611
1 - 0.7611 = 0.2389
23.89% probability that a randomly selected firm will earn more than Arc did last year
Management of Plascencia Corporation is considering whether to purchase a new model 370 machine costing $512,000 or a new model 220 machine costing $408,000 to replace a machine that was purchased 12 years ago for $455,000. The old machine was used to make product I43L until it broke down last week. Unfortunately, the old machine cannot be repaired. Management has decided to buy the new model 220 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product I43L. Management also considered, but rejected, the alternative of simply dropping product I43L. If that were done, instead of investing $408,000 in the new machine, the money could be invested in a project that would return a total of $57,000.
In making the decision to buy the model 220 machine rather than the model 370 machine, the differential cost was:_________
a. $455,000
b. $408,000
c. $512,000
d. $485,000
Answer:
Option d ($485,000) is the correct alternative.
Explanation:
When making the investment decision throughout the 220 model computer, the expense of the opportunity or chance seems to be:
= $485,000
As we know,
⇒ Opportunity cost = Return from alternative investment
i.e., $485,000
All other available options weren’t applied to the example mentioned. So, the solution above is the right one.
If you deposit Rs.100 in the bank today and it earns interest at a rate of 8% compounded annually, how much will be in the account 50 years from today?
Answer:
400
Explanation:
(8%×50)×100=
(8/100×50)×100=
(8/2)×100=
4×100=
400
Use the midpoint method when applicable to calculate the price elasticity of demand. A plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5. Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.
Answer:
A plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000.
PED = (15,000 - 20,000)/[(20,000 + 15,000)/2] / (4 - 3)/[(4 + 3)/2]
PED = -0.2857 / 0.2857 = -1 or |1| in absolute terms
PED is unitary elastic, since a 1% increase in price will result in a 1% decrease in quantity demanded.
Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.
PED midpoint method = (61,000 - 70,000)/[(61,000 + 70,000)/2] / (2.21 - 2)/[(2.21 + 2)/2]
PED midpoint method = -0.1374 / 0.0998 = -1.38 or |1.38| in absolute terms
PED is elastic, since a 1% increase in price will result in a larger decrease in quantity demanded.
Explanation:
PED midpoint method = (Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
Which of these describes the costs and benefits of getting a mortgage?
A. Mortgages provide a replacement for lost or damaged
possessions but come with high fees.
O B. Mortgages prevent government regulation of property but involve
higher taxes.
C. Mortgages help people pay for college but involve lots of
paperwork.
D. Mortgages enable people to buy houses but result in large interest
payments.
ANSWER???
Answer:
B
Explanation:
Mortgages prevent government regulation of property but involve higher taxes
One of the benefits of getting a mortgage is that it enables people to buy houses and the costs of a mortgage is that it results in large interest payments.
What is a mortgage ?
Mortgage is the process of providing something as security or collateral for a loan. Mortgages are loans from banks or other financial institutions that help borrowers buy a home. The mortgage mortgage is the house itself. This means that if the borrower fails to pay the lender monthly and the loan defaults, the lender can sell the home and get the money back.
Mortgages are usually long-term debt of 30, 20, or 15 years. During this period (also known as the "term" of the loan), the individual needs to repay both the principal borrowed and the interest charged on the loan.
What is interest?
Interest refers to the cost of borrowing. When a loan is paid or a loan is made, it begins to occur or total. Interest is computed as a percentage of the remaining amount of the loan (or deposit) and is paid regularly to the lender for the privilege of spending the money. The amount is usually calculated at an annual rate, but interest can be calculated over a period longer or shorter than a year. Interest can be calculated using various methods. At times, it is computed at a rate which is beneficial to the lender.
Hence the correct answer is D.
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what are other roles of business in the economy?
Answer:
i hope it helps u :)
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs.
Answer:
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs
Assume that Carla Corp. earned net income of $3,601,000 during 2021. In addition, it had 100,000 shares of 9%, $100 par nonconvertible, noncumulative preferred stock outstanding for the entire year. Because of liquidity considerations, however, the company did not declare and pay a preferred dividend in 2021.
Required:
Compute earnings per share for 2021.
Answer:
earnings per share = (net income - preferred dividends) / average outstanding shares
net income = $3,601,000preferred dividends = $0 (since they are noncumulative, any preferred dividend that is not paid during the year is lost and will not be paid in the future)outstanding shares = ?we cannot calculate EPS since the number of shares is not given, the formula is incomplete:
EPS = ($3,601,000 - $0) / ? = $3,601,000 / ?
In order to determine EPS, you would need to introduce the number of shares.
E.g. the company has 1,000,000 shares, then EPS = $3,601,000/1,000,000 = $3.60
E.g. the company has 500,000 shares, then EPS = $3,601,000/500,000 = $7.20
The entry that includes a debit to Cash and credit to Accounts Receivable at a discounted price is recording the ______. Multiple choice question.
We are recording a sales credit when the entry a debit to Cash and credit to Accounts Receivable at a discounted price.
What does sales discounts entails?Normally, the debit of sales discounts account by the amount of the discount are recorded.
For instance, when we debit cash by $99 and debit sales discounts by $1, we will credit the accounts receivable account in the same journal entry.
In conclusion, we are recording a sales credit when the entry a debit to Cash and credit to Accounts Receivable at a discounted price.
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Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 24,000 shares of cumulative preferred 4% stock, $140 par, and 80,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $90,000; second year, $188,800; third year, $227,360; fourth year, $243,200.
Required:
Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places.
1st Year 2nd Year 3rd Year 4th Year
Preferred stock (dividend per share) $ $ $ $
Common stock (dividend per share) $ $ $ $
Answer:
year 1:
preferred stock dividends = 24,000 x 140 x 4% = $134,400, but only $90,000 were distributed ($44,400 to be distributed next year). Dividends per preferred stock share = $90,000 / 24,000 = $3.75
common stocks dividends = no common stock dividends distributed
year 2:
preferred stock dividends = $134,400 for the current year and $44,400 form last year = $178,800. Dividends per preferred stock share = $174,800 / 24,000 = $7.45
common stocks dividends = ($188,800 - $178,800) / 80,000 common stocks = $0.125 per common stock
year 3:
preferred stock dividends = $134,400 / 24,000 = $5.60 per preferred stock.
common stocks dividends = ($227,360 - $134,400) / 80,000 = $1.162 per common stock
year 4:
preferred stock dividends = $134,400 / 24,000 = $5.60 per preferred stock.
common stocks dividends = ($243,200 - $134,400) / 80,000 = $1.36 pe common stock
Public relations is an example of marketing. True False
Answer:
True
Explanation:
Marketing is the overall process of boosting public awareness of a product, person or service, while advertising and PR are promotion methods that fall under the 'marketing' umbrella term. Whereas public relations is about selling the company or brand through positively managing the communication channels between a company and its stakeholders. Overall, marketing activities are trying to achieve direct revenue, while PR is trying to drive a positive reputation through an effective PR strategy.
To understand more clearly, read the extra point below-
How are public relations used in marketing?
Public relations (PR) strategy may play a key role in an organization's promotional strategy. A planned approach to leveraging public relations opportunities can be just as important as advertising and sales promotions. Public relations is one of the most effective methods to communicate and relate to the market.
Public relations is an example of marketing. The statement given here is True.
What do you mean by Public relations?Public relations (PR) is the collection of methods and approaches used to control how news about a person or business is presented to the general public, particularly the media.
Its key objectives are to communicate significant business news or events, preserve a corporate image, and limit the negative effects of negative occurrences by giving them a good spin.
PR can take place through a press release from the business, a news conference, journalist interviews, social media posts, or other means. Every person or organization that operates in the public eye has to worry about the public learning about them or their methods.
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When a sale is made on account, what impact does a sales discount have on the amount of cash eventually received? It either increases or decreases the amount of cash received in unpredictable ways. It neither increases nor decreases the amount of cash received. It decreases the amount of cash received. It increases the amount of cash received.
When a sale is made on account, D. It decreases the amount of cash received.
What is sale?It should be noted that sale simply means the quantity of goods and services sold at a particular period of time.
In this case, when a sale is made on account, the impact that it will have on the amount of cash eventually received is that it decreases the amount of cash received.
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Laserscope Inc. is trying to determine the best combination of short-term and long-term debt to employ in financing its assets. Laserscope will have $16 million in current assets and $20 million in fixed assets next year and expects operating income (EBIT) to be $4,1 million. The company's tax rate is 40% and its debt ratio is 50%. The firm's debt will be financed by an conservative policy using $6 million of short-term debt. The short-term interest rate is 7.0% and the long-term interest rate is 10.3%. What is the return on shareholders' equity (ROE) under this policy
Answer:
Laserscope Inc.
Return on Equity (ROE):
= $1,466,400/$18,000,000 * 100
= 8.15%
Explanation:
a) Laserscope's Return on Equity (ROE) is a financial performance measure, calculated by dividing the net income or Earnings After Tax (EAT) by its total shareholders' equity. It is usually expressed as a percentage. So the above calculation is further multiplied by 100.
b) Data and Calculations:
Current assets = $16
Fixed assets = $20
Total assets = $36
Debt ratio = 50% of $36 million = $18 million
Therefore, Stockholders' equity = 50% (1 - 50%) or $18 million
EBIT = $4.1 million
Short-term debt = $6 million
Long-term debt = $12 million
Interest on short-term debt = $420,000 (7% * $6 million)
Interest on long-term debt = $1,236,000 (10.3% * $12 million)
Total interest expense = $1,656,000
Earnings before interest and taxes = $4,100,000
Interest expense 1,656,000
Earnings before taxes 2,444,000
Company tax (40%) (977,600)
Earnings after taxes (EAT) $1,466,400
The return on shareholders' equity (ROE) under this policy is 8.15%.
The calculation is as follows;Total assets is
= $16 million + $20 million
= $36 million
EBIT is $4.1 million
Debt ratio is 50%
The total debt is 50% of $36 billion i.e. $18 million
Less: short term debt $6 million
Long term debt $12 million
Now
EBIT $4.1 million
Less: Interest $1.656 million ((6 × 7%)+(12 × 10.3%))
EBT $2.444 million
Less: taxes $0.9776 million
Net income $1.4664 million
Now
The return on shareholder equity is
= $1.4664 ÷ $18
= 8.15%
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Find the values of y²=144
Answer:
y = 12
Explanation:
y^2 = 12^2
y = 12
which is your answer
Which of the following is an example of a market failure? A(n)
Choose all that apply.
outcome in which total surplus is maximized.
outcome in which a cost spills onto a third party.
market outcome in which consumer surplus is greater than producer surplus.
quantity in which marginal social benefit exceeds marginal social cost.
overproduction of goods and services.
The examples of market failure include:
market outcome in which consumer surplus is greater than producer surplus.overproduction of goods and services.What is market failure?Market failure simply means an inefficient distribution of goods and services in the market.
In this case, market failure can occur when there's a market outcome in which consumer surplus is greater than producer surplus and when there's an overproduction of goods and services.
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Springer Company had three intangible assets at the end of 2020 (end of the accounting year):
a. A copyright purchased on January 1, 2020, for a cash cost of $15,800. The copyright is expected to have a 10-year useful life to Springer.
b. Goodwill of $78,000 from the purchase of the Hartford Company on July 1, 2019.
c. A patent purchased on January 1, 2019, for $58,000. The inventor had registered the patent with the U.S. Patent and Trademark Office on January 1, 2015. Springer intends to use the patent for its remaining life.
Required:
a. Compute the amortization expense of each intangible for the year ended December 31, 2020. The company does not use contra accounts.
b. Show how the expenses related to the three intangible assets should be reported on the income statement for 2020.
c. Show how the three intangible assets should be reported on the balance sheet for 2020.
Answer:
All requirements solved
Explanation:
Amortization expense can be calculated by dividing the cost of purchasing the asset by its useful remaining life after deducting the residual value from the cost. In this case, no residual value is given.
Requirement 1: Amortization expense of each intangible for the year ended December 31, 2020.
Amortization = Cost / useful life
Copyright (15,800/10) = $1,580
patent (58,000/16) = $3,625
Goodwill = No amortization due to indefinite life
Requirement 2: Expenses related to the three intangible assets should be reported on the income statement for 2020.
Amortization expense = $1,580 + $3,625
Amortization expense = $5,205
Requirement 3: Three intangible assets should be reported on the balance sheet for 2020.
Copyright 15800-1580 = 14,220
Goodwill = $78,000
Patent (58,000 - 3625) = 54,375
First, Goodwill = No amortization due to indefinite life
Second, Amortization expense = $5,205
Third, Copyright = 14,220
Goodwill = $78,000
Patent= 54,375
Computation of Amortization expense
Amortization expense can be Computation by dividing the cost of purchasing the asset by its useful remaining life after subtracting the residual value from the cost. In this circumstance, no residual value is given.
Requirement 1: When the Amortization expense of each intangible for the year ended December 31, 2020.
Amortization is = Cost/useful life
Copyright (15,800/10) is = $1,580
patent (58,000/16) is = $3,625
Goodwill is = No amortization due to indefinite life
Requirement 2: When the Expenses related to the three intangible assets should be reported on the income statement for 2020.
Amortization expense is = $1,580 + $3,625
Amortization expense is = $5,205
Requirement 3: Then Three intangible assets should be reported on the balance sheet for 2020.
Copyright 15800-1580 is = 14,220
Goodwill is = $78,000
Patent (58,000 - 3625) is = 54,375
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In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows: 2018 2019 2020 Cost incurred during the year $ 2,184,000 $ 3,510,000 $ 2,316,600 Estimated costs to complete as of year-end 5,616,000 2,106,000 0 Billings during the year 1,800,000 3,894,000 4,306,000 Cash collections during the year 1,600,000 3,400,000 5,000,000 Westgate Construction uses the completed contract method of accounting for long-term construction contracts. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
Answer:
revenue recognized
2018 = $2,800,000
2019 = $4,500,000
2020 = $2,700,000
gross profit
2018 = $616,000
2019 = $990,000
2020 = $383,400
Explanation:
Percentage of 2018 2019 2020
completion method
Cost incurred in $0 $2,184,000 $5,694,000
previous year
+ Cost incurred $2,184,000 $3,510,000 $2,316,600
during the year
Total cost incurred $2,184,000 $5,694,000 $8,010,600
+ Estimated cost to $5,616,000 $2,106,000 $0
be incurred
Total estimated cost $7,800,000 $7,800,000 $8,010,600
to be incurred
Percentage of 28% 73% 100%
completion
Total revenue $10,000,000 $10,000,000 $10,000,000
Total revenue $2,800,000 $7,300,000 $10,000,000
recognized (% of completion x total revenue)
- Revenue recognized ($0) ($2,800,000) ($7,200,000)
in previous year
= revenue recognized $2,800,000 $4,500,000 $2,700,000
in current year
gain/loss 2018 2019 2020
Revenue $2,800,000 $4,500,000 $2,700,000
- Cost incurred ($2,184,000) ($3,510,000) ($2,316,600)
Gross profit $616,000 $990,000 $383,400
The concept of a price index is that: Question 28 options: it is an index of how much housing prices have changed, because housing is the most important item in the consumption bundle. it is a measure of how the prices included in the typical basket of goods have changed over time, holding the items in the consumption bundle constant. it is a measure of how the items included in the typical basket of goods have changed over time; it also includes price changes over time. it is an index of how much gasoline prices have increased, because all prices follow the price of gasoline. it is a measure of how the items included in the typical basket of goods have changed over time, while holding price changes constant.
Answer:
Option B (It is a.............bundle constant) would be the correct choice.
Explanation:
The index number representing the amount including its commodities prices community determines the level including its values of almost the same goods over the base time randomly selected and used to denote shifts throughout the price point through one time toward the next. A calculation of where and how prices have been rising over time in a standard basket of things, keeping the products steady throughout the consumption package. The price index maybe for something like gasoline, homes, etc.Some other approaches offered aren't linked to the possibility specified. So, the obvious response above is the right one.
Zerо bаsed budgeting wаs first аррlied by:
а. Аbrаhаm Linсоn
b. Jimmy Саrter
с. Рeter А рhyrr
d. Аlex Оuсhy
Answer:
c.Peter A phyrr
Explanation:
Zero-based budgeting originated in the 1960s by former Texas Instruments account manager Peter Pyhrr.
The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in the amount of $8,721,000. During the month of July 2020, the following transactions occurred (in summary):
a, Purchase orders were issued in the amount of $563,000.
b. Of the $563,000 in purchase orders, $511,000 were filled, with invoices amounting to $501,000.
c. Salaries, not encumbered, amounted to $317,000.
d. A budget appropriations reduction in the amount of $60,000 was approved by the city council.
Required:
Prepare an appropriations, expenditures, and encumbrances ledger for the police department for the month of July. (Credit amounts should be indicated by a minus sign.)
Answer:
Appropriation ($) balance = – $8,661,000
Encumbrance balance = $52,000
Expenditure balance = $818,000
Unexpended Appropriation Balance = – $7,791,000
Explanation:
Note: See the attached excel file for the appropriations, expenditures, and encumbrances ledger for the police department for the month of July.
Also note: In the excel file, the last balance in column for the Unexpended Appropriation Balance is the balance obtained in the Transaction e row since the balance in the row is cumulative.
What do you think will happen to the stock market? Will it go down and possibly lead to the worst market crash in history , or will it bounce back to a high? & why ?
Answer in a paragraph please (: you’ll receive a brainy
If preferred stock sold for $67 a share and $4 dividends were paid annually, what would be the required return
16.75 don't ask how I got it done the question before
Milton Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $23,800. Notes Receivable includes the following.
date Maker Face Value Term Maturity Date Interest Rate
21-Apr Coote Inc 6,000 90 Days 20-Jul 8%
25-May Brady Co 7,800 60 Days 24-Jul 10%
30-Jun BMG Co 10,000 6 Months 31-Dec 6%
During July, the following transactions were completed.
July 5 Made sales of $4,500 on Milton Company credit cards.
14 Made sales of $600 on Visa credit cards. The credit card service charge is 3%.
20 Received payment in full from Coote Inc. on the amount due.
24 Received payment in full from Brady Co. on the amount due.
Required:
a. Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable.
b. Show the balance sheet presentation of the receivable accounts at July 31.
a) Journalizing the July transactions and the July 31 adjusting entry for accrued interest receivable for Milton Company is as follows:
July 5 Debit Credit Card $4,500
Credit Sales Revenue $4,500
Milton Company credit cards.
July 14 Debit Visa Credit Card $582
Credit Visa Credit Card Expense $18
Credit Sales Revenue $600
Visa credit cards with a service charge of 3%.
July 20 Debit Cash $6,120
Credit Notes Receivable (Coote Inc.) $6,000
Credit Interest Revenue $120
July 24 Debit Cash $7,930
Credit Notes Receivable (Brady Co.) $7,800
Credit Interest Revenue $130
Adjusting Journal Entry:July 31 Debit Interest Receivable $50
Credit Interest Revenue $50
b. The balance sheet presentation of the receivable accounts as of July 31 is as follows:
Milton Company
Balance Sheet as of July 31:
Receivable Accounts:Credit Cards $5,082
Notes Receivable $10,000
Interest Receivable $50
Data and Calculations:Notes Receivable account balance = $23,800
Detailed as follows:
Date Maker Face Value Term Maturity Date Interest Rate
21-Apr Coote Inc $6,000 90 Days 20-Jul 8%
25-May Brady Co 7,800 60 Days 24-Jul 10%
30-Jun BMG Co 10,000 6 Months 31-Dec 6%
Total $23,800
Transactions Analysis:July 5 Credit Card $4,500 Sales Revenue $4,500
Milton Company credit cards.
July 14 Visa Credit Card $582 Visa Credit Card Expense $18 Sales Revenue $600
Visa credit cards with a service charge of 3%.
July 20 Cash $6,120 Notes Receivable (Coote Inc.) $6,000 Interest Revenue $120
July 24 Cash $7,930 Notes Receivable (Brady Co.) $7,800 Interest Revenue $130
July 31 Interest Receivable $50 Interest Revenue $50
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the insider quiz Bergman received a box of documents on his doorstep. What is the name of the company where the documents came from
The name of the company where the documents received by Bergman came from is B. Brown & Williamson.
What was Brown & Williamson?Brown & Williamson Tobacco Corporation was the third-largest tobacco company in the United States.
Brown & Williamson Tobacco Corporation became infamous as the focus of investigations by Lowell Bergman in 2000 for chemically enhancing the addictiveness of cigarettes.
Answer Options:A. American Tobacco Company
B. Brown & Williamson Tobacco Company
C. Liggett Group
D. Lorillard Tobacco Company
E. Phillip Morris USA O RJ Reynolds
Thus, the name of the company where the documents received by Bergman came from is B. Brown & Williamson.
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Emir Company purchased equipment that cost $110,000 cash on January 1, Year 1. The equipment had an expected useful life of six years and an estimated salvage value of $8,000. Assuming that Emir depreciates its assets under the straight-line method, the amount of depreciation expense shown on the income statement prepared for Year 4 and the amount of accumulated depreciation shown on the balance sheet prepared as of December 31, Year 4, respectively, would be: Depreciation expense Accumulated depreciation A. $17,000 $17,000 B. $17,000 $68,000 C. $68,000 $17,000 D. $17,000 $51,000
Answer:
Annual depreciation= $17,000
Accumulated depreciation= $68,000
Explanation:
Giving the following information:
Purchase price= $110,000
Useful life= 6 years
Salvage value= $8,000
First, we need to calculate the annual depreciation under the straight-line method. The depreciation expense remains constant during a useful life.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (110,000 - 8,000) / 6
Annual depreciation= $17,000
Now, the accumulated depreciation after 4 years:
Accumulated depreciation= 17,000*4= $68,000