Answer: $21,000
Explanation:
Financing activities refer to those that a company engages in, in relation to capital needed to run the affairs of the business which means it included Equity and Debt.
Financing Activities: Interest paid, dividends paid, money borrowed from bank, stock repurchase
Net cash flows from financing = Money borrowed from bank - Interest paid - dividends paid - Stock repurchase
= 50,000 - 6,000 - 8,000 - 15,000
= $21,000
Can we get this to 20 Answers?
Answer:
what is your question ? tell me in the comments plz
Explanation:
Which of the following should you keeo in mind when targeting high-level networkers on sites such as LinkedIn?
A. You should only request a connection if you know the person.
B. You should tell the person how she/he can help you.
C. You should make sure that the person has at least 100 connections.
D. You should make sure that the person is active on the site.
Answer:
I took the test and it's NOT you should only request a connection if you know the person
Explanation:
Answer:
You should make sure the person is active on the site
Explanation:
I took the test and this was the correct answer
In the month of March, Ivanhoe Salon services 550 clients at an average price of $150. During the month, fixed costs were $26,880 and variable costs were 60% of sales. (a) Determine the total contribution margin in dollars, the per unit contribution margin, and the contribution margin ratio. Contribution margin in dollars $enter the contribution margin amount in dollars Contribution margin per unit $enter the contribution margin per unit amount in dollars Contribution margin ratio
Answer and Explanation:
The computation is shown below:
a. Total sales is
= 550 clients × $150
= $82,500
Variable costs is
= 60% of sales
= 60% × $82,500
= $49,500
Now
Contribution margin is
= total sales - variable costs
= $82,500 - $49,500
= $33,000
and, Contribution margin per unit is
= contribution margin ÷ total units
= $33,000 ÷ 550
= $60
And,
Contribution margin ratio is
= contribution margin ÷ total sales
= $33,000 ÷ $82,500
= 40%
When you are posting your résumé online, be sure to adjust it so it is _____.
one page in length
bold
colorful
cyber-safe
Answer:
I think the answer is one page in length
Explanation:
because when you do a resume you will need to add a length to it beige you post it in.
Tax rate 35% 2020 2019 Revenues $42,629 $37,911 Cost of goods sold 23,704 24,832 Interest 1,230 1,584 Dividends 1,200 600 Depreciation 2,609 2,814 Administrative expenses 7,040 6,820 Cash 3,671 2,969 Inventory 3,968 4,503 Accounts payable 2,325 3,760 Long-term debt 19,105 25,900 Accounts receivable 4,601 5,318 Common stock 22,600 19,800 Net fixed assets 41,260 42,110 (2) What is the Net Debt to Operating Cash Flow Ratio in 2020
Answer:
The Net Debt to Operating Cash Flow Ratio in 2020 is:
2.26
Explanation:
a) Data and Calculations:
Tax rate 35%
2020 2019
Revenues $42,629 $37,911
Cost of goods sold 23,704 24,832
Interest 1,230 1,584
Dividends 1,200 600
Depreciation 2,609 2,814
Administrative expenses 7,040 6,820
Cash 3,671 2,969
Inventory 3,968 4,503
Accounts payable 2,325 3,760
Long-term debt 19,105 25,900
Accounts receivable 4,601 5,318
Common stock 22,600 19,800
Net fixed assets 41,260 42,110
Cash Flow from operations:
2020 2019
Revenues $42,629 $37,911
Cost of goods sold 23,704 24,832
Interest 1,230 1,584
Administrative expenses 7,040 6,820
Net cash flow $10,655
Working capital adjustment:
Inventory 535 (-3,968 + 4,503)
Accounts payable (1,435) (-2,325 + 3,760)
Accounts receivable 717 (-4,601 + 5,318)
Net cash from operations $10,472
Total debt:
Long-term debt = $19,105
Current debt = 4,601
Total debt = $23,706
Cash flow-to-debt ratio = Total debt/Net cash from operations
= $23,706/$10,472
= 2.26
b) The cash flow-to-debt ratio is the ratio of a company's cash flow from operations to its total debt, which shows how long (2.26 years) it takes the company to repay its debt if it devoted all of its cash flow to debt repayment.
For the competitive firm in the labor market, the value of the marginal product is equal to the marginal revenue product because marginal
Answer:
physical product of labor equals the wage rate
Explanation:
The marginal product of an input refers to the extra output produced as a result of addition of one unit of the input to the given productive factors.
Marginal revenue is the revenue earned by producing one more unit of a product.
For the competitive firm in the labor market, the value of the marginal product is equal to the marginal revenue product because marginal physical product of labor equals the wage rate.
The sensitivity of a system for disciplining and possibly terminating employees is important, and it is critical that the system be seen as fair. Employees form conclusions about the system's fairness based on the system's outcomes and procedures and the way managers treat employees when carrying out those procedures. Three principles of justice are outcome fairness, procedural justice, and interactional justice. Outcome fairness involves the ends of a discipline process or action, while procedural and interactional justice focus on the means to those ends. Not only is behavior ethical that is in accord with these principles, but research has also linked the last two categories of justice with employee satisfaction and productivity. This activity is important because it will give you practice with the three basic principles of justice. The goal of this activity is to discuss how employees determine whether the organization treats them fairly. Read each scenario, then select the appropriate principle of justice to which it pertains. 1. You and a friend apply for a job at a hardware store and you believe that you are more qualified, but your friend is offered the job and you are not. Outcome Fairness 4 2. You find out that your friend's uncle is the hiring manager for the company you both work for. Procedural Justice 4 3. Although you did not receive a job offer, the human resources representative called to explain why he thought your friend was more qualified than you. Outcome Fairness A 4. Your manager approaches you about a promotion you did not receive and respectfully explains that although you did not get the promotion, your superb characteristics make you a strong candidate next time. ((Click to select) 5. Your co-worker who received a promotion when you did not was a college buddy of your manager who lunches with him weekly. Procedural Justice 6. You approach your HR manager about what you see as unequal distribution of family benefits. She empathizes and asks how to assist with your family needs. ((Click to select) 7. Your co-worker receives a promotion that you applied for and did not receive. Outcome Fairness 4 8. You realize that female employees seem to be receiving more perks and family-related benefits than male employees in the organization. Procedural Justice A 9. You did not receive a raise because your manager did not think you finished your major project for the year even though it was completed last week. ((Click to select) 10. You notice that some individuals in the organization are receiving more family-related benefits than others. ((Click to select) 11. You talk to your manager about not receiving a raise and think it is because your project was not finished. He listens and discusses how to resolve the issue. Interactional Justice 12. Your manager gives pay raises to half of your team, but you do not receive one. Outcome Fairness A
Answer:
1. You and a friend apply for a job at a hardware store and you believe that you are more qualified, but your friend is offered the job and you are not.
Outcome Fairness
2. You find out that your friend's uncle is the hiring manager for the company you both work for.
Procedural Justice
3. Although you did not receive a job offer, the human resources representative called to explain why he thought your friend was more qualified than you.
Interactional Justice
4. Your manager approaches you about a promotion you did not receive and respectfully explains that although you did not get the promotion, your superb characteristics make you a strong candidate next time. ((Click to select)
Interactional Justice
5. Your co-worker who received a promotion when you did not was a college buddy of your manager who lunches with him weekly.
Procedural Justice
6. You approach your HR manager about what you see as unequal distribution of family benefits. She empathizes and asks how to assist with your family needs. ((Click to select)
Interactional Justice
7. Your co-worker receives a promotion that you applied for and did not receive.
Outcome Fairness
8. You realize that female employees seem to be receiving more perks and family-related benefits than male employees in the organization.
Procedural Justice
9. You did not receive a raise because your manager did not think you finished your major project for the year even though it was completed last week. ((Click to select)
Procedural Justice
10. You notice that some individuals in the organization are receiving more family-related benefits than others. ((Click to select)
Outcome fairness
11. You talk to your manager about not receiving a raise and think it is because your project was not finished. He listens and discusses how to resolve the issue.
Interactional Justice
12. Your manager gives pay raises to half of your team, but you do not receive one.
Outcome Fairness
Explanation:
The three identified principles of justice are outcome fairness, procedural justice, and interactional justice. Outcome fairness refers to the perception of the fairness of the distribution of outcomes. Procedural fairness refers to the fairness in the procedures followed when arriving at a decision or judgement. Interactional fairness refers to the interpersonal and information fairness that is shown in implementing procedures. Outcome fairness concentrates on the ends, while procedural and interactional justices focus on the means to the ends.
Bonita City College sold season tickets for the 2018 football season for $318000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
a. will include a debit to Cash and a credit to Ticket Revenue for $58500.
b. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $78000.
c. is not required. No adjusting entries will be made until the end of the season in November.
d. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $87750.
Answer:
Will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $119,250.
Explanation:
Based on the information given we were told that the tickets that was sold for the 2018 football season was the amount of $318,000 which means that if a total of 8 games will be played during the month of September in which in the month of September only three games were played. The adjusting journal entry at September 30 will be :
Dr Unearned Ticket Revenue $119,250
Cr Ticket Revenue for $119,250.
($318,000 × 3games/8games=$119,250)
g The following information pertains to Lee Corp.'s defined benefit pension plan for year 2: Service cost $160,000 Actual and expected gain on plan assets 35,000 Unexpected loss on plan assets related to a year 1 disposal of a subsidiary 40,000 Amortization of unrecognized prior service cost 5,000 Annual interest on pension obligation 50,000 What amount should Lee report as pension cost in its year 2 income statement
Answer:
$180,000
Explanation:
Calculation for the amount that Lee should report as pension cost in its year 2 income statement
Using this formula
Pension cost =Service cost-Actual and expected return on plan assets+Prior service cost amortization+Interest cost
Let plug in the formula
Pension cost =$160,000 – $35,000 + $5,000 + $50,000
Pension cost =$180,000
Therefore the amount that Lee should report as pension cost in its year 2 income statement will be $180,000
Sandhill, Inc., is launching a new store in a shopping mall in Houston. The annual revenue of the store depends on the weather conditions in the summer in Houston. The annual revenue will be $252,000 in a sizzling summer, with a probability of 0.3, $61,000 in a cool summer with a probability of 0.2, and $170,500 in a normal summer with a probability of 0.5.
What is the expected annual revenue for the store?Expected annual revenue= $
Answer:
$173,050
Explanation:
Expected revenue = 0.3*$252,000 + 0.2*$61,000 + 0.5*$170,500
Expected revenue = $75600 + $12200 + $85250
Expected revenue = $173,050
So, the expected annual revenue for the store is $173,050
ABC Company issues $425,000 of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below:
Cash Interest Change in Carrying
Date Paid Expense Carrying Value Value
01/01/2021 $599,391
06/30/2021 $14,875 $11,988 $-2,887 596,504
12/31/20211 4,875 11,930 -2,945 593,559
What is the original issue price of the bonds?
a. $592,557
b. $440,000
c. $590,534
d. $459,800
Answer:
$599,391
Explanation:
Based on the information given we were told that the bonds amount of $425,000 which is the Face Value of Bonds were issued by the company on January 1, 2021 which means that ORIGINAL ISSUE PRICE of the bonds will be the Carrying Value or the Issues Value of Bonds of the amount of $599,391 that was issued on the same date the Company issues the face value bonds of the amount of $425,000 which is January 1, 2021 ( 01/01/2021).
Therefore the original issue price of the bonds will be $599,391
Oriole Company issued $476,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $454,580, the company redeemed the bonds at 97. Prepare the entry to record the redemption of the bonds.
Answer:
Date Account and Explanation Debit Credit
Bonds payable $476,000
Loss on bond redemption $7,140
(461,720 - 454,580)
Cash $461,720
(476,000 * 0.97)
Discount on bonds payable $21,420
(476,000 - 454,580)
(To record redemption of the bonds)
Annual maintenance cost for a particular section of highway pavement are $3,000.The placement of a new surface would reduce the annual maintenance cost to $400 per year for the first 5 years, and to $800 per year for the next 5 years. After 10 years, the annual maintenance cost would again be $3,000. If the maintenance costs are the only saving, how much investment can be justified for the new surface, by assuming interest at 6%
Answer:
$17,877
Explanation:
initial outlay = ?
net cash flows years 1 to 5 = $3,000 - $400 = $2,600
net cash flows years 6 to 10 = $3,000 - $800 = $2,200
assuming that the discount rate is 6%, we need to determine the maximum amount of initial investment that would result in the NPV = 0
in order to do this we have to calculate the present value of the future cash flows:
PV = $2,600/1.06 + $2,600/1.06² + $2,600/1.06³ + $2,600/1.06⁴ + $2,600/1.06⁵ + $2,200/1.06⁶ + $2,200/1.06⁷ + $2,200/1.06⁸ + $2,200/1.06⁹ + $2,200/1.06¹⁰ = $17,877
that means that the maximum amount that can be invested = $17,877, and that way the NPV = 0
Covered interest arbitrage involves both Select one: A. the purchase of a foreign asset and a forward contract in the market for foreign exchange. B. the purchase of a domestic asset and a spot contract in the market for foreign exchange. C. the sale of a foreign asset and the purchase of a foreign contract in the market for foreign exchange. D. the sale of domestic stocks and the purchase of foreign bonds. E. none of the above.
Answer:
A. the purchase of a foreign asset and a forward contract in the market for foreign exchange.
Explanation:
The covered interest arbitrage is the commonly form of arbitrage in which the investor used the forward contract against the risk of the exchange rate
In this, the norms are agreed and set by the investors to remove the future risk
Therefore as per the given situation, the first option is correct
hence, the same is to be considered
Thus, all the other options are wrong
Using your accounting knowledge, fill in the following separate income statements a through e. Identify any negative amount by putting it in parentheses.
Statements:
a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold
Merchandise inventory (beginning) $10,000 $0 $100 $80,000 $25,000
Total Cost of merchandise purchases $30,000 $300,000 $0 $100,000 $10,000
Merchandise inventory (ending) ($10,000) $10,000 ($10) ($50,000) ($10,000)
Cost of goods sold $30,000 $290,000 $90 $130,000 $25,000
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses $10,000 $150,000 $1,000 $400,000 $50,000
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
Answer:
Income Statements a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold ($30,000) ($290,000) ($90) ($130,000) ($25,000)
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses ($10,000) ($150,000) ($1,000) ($400,000) ($50,000)
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
Explanation:
a) Data and Calculations:
Income Statements a b c d e
Sales $100,000 $805,000 $2,000 $450,000 $100,000
Cost of goods sold
Merchandise inventory
(beginning) $10,000 $0 $100 $80,000 $25,000
Purchases $30,000 $300,000 $0 $100,000 $10,000
inventory (ending) ($10,000) ($10,000) ($10) ($50,000) ($10,000)
Cost of goods sold $30,000 $290,000 $90 $130,000 $25,000
Gross Profit $70,000 $515,000 $1,910 $320,000 $75,000
Expenses $10,000 $150,000 $1,000 $400,000 $50,000
Net Income (loss) $60,000 $365,000 $910 ($80,000) $25,000
A job was timed for 60 cycles and had an average of 1.2 minutes per piece. The performance rating was 95 percent, and workday allowances are 10 percent. Determine each of the following:
a) Observed Time
b) Normal Time
c) Standard Time
Answer and Explanation:
The computation is given below:
a) Observation time is
= Average time
= 1.2 minutes
b) Normal time is
= Observation time × performance rating
= 1.2 minutes × 0.95
= 1.14 minutes
c. The standard time is
= Normal time × allowance factor
= 1.14 × 1.11
= 1.265 minutes.
The allowance factor is
= 1 ÷ (1 - Allowances)
= 1 ÷ (1 - 0.1)
= 1.11
Consider the three theories of the upward slope of the short-run aggregate-supply curve. According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too . True or False: According to the sticky-price theory, the economy is in a recession because people expect prices to rise quickly in a recession. True False According to the misperceptions theory, the economy is in a recession when the price level is what was expected.
Answer:
According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too
⇒HIGH. According to this theory, the increase of real wages will result in lower production levels and lower employment.
According to the sticky-price theory, the economy is in a recession because people expect prices to rise quickly in a recession.
⇒TRUE. The sticky price theory is based on the concept that prices will not change quickly enough to adjust to a new optimal equilibrium level.
According to the misperceptions theory, the economy is in a recession when the price level is what was expected.
⇒FALSE. According to this theory if the price level decreases, suppliers will reduce output levels resulting in a recession.
On July 1, 2021, Markwell Company acquired equipment. Markwell paid $175,000 in cash on July 1, 2021, and signed a $700,000 noninterest-bearing note for the remaining balance which is due on July 1, 2022. An interest rate of 5% reflects the time value of money for this type of loan agreement. (PV of $1, PVA of $1) (Use appropriate factor(s) from the tables provided.) For what amount will Markwell record the purchase of equipment? a) $834,048. b) $841,666. c) $741,666. d) $875,000.
Answer: b) $841,666.
Explanation:
Markwell will record the equipment at the present value of the amounts spent to purchase it.
Present value of the cash paid = $175,000
Present value of the noninterest-bearing note after a year = 700,000/(1 + 5%)
= $666,667
Total = 175,000 + 666,667
= $841,667
As per the options;
= $841,666
Divac’s preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $10 per share. Assume that the common stockholders have a right to the total net income of $74,000.
Answer:
1. 59.21%
2. $15.98
Explanation:
Note: The table is attached as picture below
Required: "1. Determine the dividend payout ratio for the common stock 2. Determine the book value per share of Divac’s common stock."
1. Dividend Payout Ratio = Cash Dividend / Net Income * 100
Dividend Payout Ratio = 45,000 / 76,000 * 100
Dividend Payout Ratio = 59.21052631578947%
Dividend Payout Ratio = 59.21%
2. Number of Shares for Preferred Stock = Total Value of Preferred Stock / Par Value Per Share of Preferred Stock
Number of Shares for Preferred Stock = 110,000 /100
Number of Shares for Preferred Stock = 1,100
Liquidation Value of Preferred Stock = Number of Shares of Preferred Stock * Liquidation Price Per Share
Liquidation Value of Preferred Stock = 1,100 * 120
Liquidation Value of Preferred Stock = 132,000
Total Stockholders' Equity ′ = Preferred Stock + Paid in Capital Preferred + Common Stock + Paid in Capital Common + Retained Earnings
Total Stockholders' Equity = 110,000 + 55,000 + 500,000 + 50,000 + 216,000
Total Stockholders' Equity = 931,000
Net Assets Applicable to Common Stock = Total Stockholders' Equity - Liquidation Value of Preferred Stock
Net Assets Applicable to Common Stock = 931,000 - 132,000
Net Assets Applicable to Common Stock = 799,000
Number of Shares of Common Stock = Total Value of Common Stock / Par Value Per Share of Common Stock
Number of Shares of Common Stock = 500,000 / $10
Number of Shares of Common Stock = 50,000
Book Value Per Share = Net Assets Applicable to Common Stock / Number of Shares of Common Stock Net Assets Applicable to Common Stock
Book Value Per Share = 799,000 / 50,000
Book Value Per Share = $15.98
So therefore, the Book Value Per Share is $15.98 per share
The following data has been provided for Hisjum631 Corporation for the period below:_______.
Return on investment 22 %
Average operating assets $ 40,000
Minimum required rate of return 16 %
What is the residual income for Hisjum631 for the period (closest to)?
Answer:
$2,400
Explanation:
Calculation for the residual income for Hisjum631 for the period
First step is to calculate the ROI Using this formula
ROI = Net operating income ÷ Average operating assets
Let plug in the formula
0.22 = Net operating income ÷ $40,000
Net operating income = 0.22× $40,000
Net operating income = $8,800
Now let calculate the Residual income using this formula
Residual income = Net operating income − (Average operating assets × Minimum required rate of return)
Let plug in the formula
Residual income= $8,800 − ($40,000 × 0.16)
Residual income= $8,800 − $6,400
Residual income= $2,400
Therefore the residual income for Hisjum631 for the period (closest to) $2,400
Item9 Time Remaining 57 minutes 4 seconds00:57:04 Item 9Item 9 Time Remaining 57 minutes 4 seconds00:57:04 In a statement of cash flows: Multiple Choice Operating activities are the same activities as reported in the income statement. The two primary reporting classifications of cash flows are inflows and outflows. No noncash transactions are reported in the statement itself or the related footnote. Inflows and outflows for cash equivalents are reported as operating activities.
Answer:
Operating activities are the same activities as reported in the income statement
Explanation:
As we know that in the cash flow statement there are three types of sections i.e. operating, investing and financing. ALso it deals with the inflow and the outflow of cash
here we adjusted the non-cash and non-operating activities to the operating profit
Plus we add the non-cash expense
and deduct the gain and add the losses
Therefore the first option is correct
How is environmental pollution market failure
Answer:
In the real world, pollution is served as an example of market failure. ... According to the diagram, in this case pollution, negative externalities occurs. At the output Qe , equilibrium output is achieved by the firm, at which the marginal private cost equals the price of the firm's output.
Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits $ 86 per hour Annual labor hours 3,100 hours Annual materials purchase $ 1,316,250 Materials purchasing, handling, and storage $ 315,900 Overhead for depreciation, taxes, insurance, etc. $ 780,000 Target profit margin for both labor and materials 25 % What should Shale set as the materials markup per dollar of materials used
Answer:
49%
Explanation:
Material mark up per dollar of material used = Target profit + Percentage of material purchasing , handling and storage
Material mark up per dollar of material used = 25% + (315,900/1,316,250 *100)
Material mark up per dollar of material used = 25% + 24%
Material mark up per dollar of material used = 49%
What is the trial balance used?
a. It is a financial statment.
b. It doesn't contribute to the accounting cycle.
c. It records balance of a balance sheet.
d. It records balance of accounts.
Answer:
c
Explanation:
Chu Company provided the following information related to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: Dec. Year 1 Jan. Year 2 Feb. Year 2 Mar. Year 2 (Actual) (Budgeted) (Budgeted) (Budgeted)Cost of goods sold $ 30,000 $ 60,000 $ 80,000 $ 50,000 Desired ending inventory levels are 34% of the following month's projected cost of goods sold. Budgeted purchases of inventory in February Year 2 would be:
Answer:
Budgeted purchases of inventory in February Year 2 would be $69,800
Explanation:
___________CGS _Ending Inventory_Beginning Inventory _ Purchases
Dec. Year 1 _$30,000 _ $20,400 _____ $0 _____________$0
Jan. Year 2 _$60,000 _$27,200 _____ $20,400_________$66,800
Feb. Year 2 _$80,000_ $17,000 ______$27,200_________$69,800
Use following formula to calculate the Purchases
Cost of Goods sold = Beginning Inventory + Purchases - Ending Inventory
Purchases = Cost of Goods sold - Beginning Inventory + Ending Inventory
Placing value of Jan Year 2
Purchases = $60,000 - $20,400 + $27,200 = $66,800
Placing value of Feb Year 2
Purchases = $80,000 - $27,200 + $17,000 = $69,800
Bronco High School issues $10 million in bonds on January 1, 2021 that pay interest semi-annually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 8,800,000 06/30/2021 $ 400,000 $ 440,000 $ 40,000 8,840,000 12/31/2021 400,000 442,000 42,000 8,882,000 What is the face amount of the bonds
Answer:
the face amount of the bonds is $10 million
Explanation:
the journal entry to record the issuance of the bonds is:
January 1, 2021, bonds issued at a discount
Dr Cash 8,800,000
Dr Discount on bonds payable 1,200,000
Cr Bonds payable 10,000,000
the face value of the bonds = total amount of the issue, while the carrying value of the bonds = face value - discount = $10,000,000 - $1,200,000 = $8,800,000
A company purchased a weaving machine for $273,400. The machine has a useful life of 8 years and a residual value of $15,000. It is estimated that the machine could produce 760,000 bolts of woven fabric over its useful life. In the first year, 110,000 bolts were produced. In the second year, production increased to 114,000 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year
Answer:
Annual depreciation= $38,760
Explanation:
To calculate the depreciation expense, we need to use the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced
Annual depreciation= [(273,400 - 15,000)/760,000]*114,000
Annual depreciation= $38,760
Requirements for legal capacity for an individual are that a person must be at least sixteen and intelligent. true false
Answer:
False
Explanation:
You have to be 18
A public franchise is a right granted Group of answer choices to one firm by another firm; for example, McDonald's Corporation grants restaurant owners a franchise to make its hamburgers. to a firm by government that prevents other firms from producing the same product or service. to a cooperative of buyers that allows the group to purchase goods at wholesale prices. by government that enables a person to engage in arbitrage.
Answer: to a firm by government that prevents other firms from producing the same product or service
Explanation:
A public franchise is a right granted to a firm by government that prevents other firms from producing the same product or service.
This is done by the government in a situation whereby the government doesn't want a competition for the firm or doesn't want other firms to sell that particular good.
For example, if a particular firm comes up with a drug that can cure HIV/AIDS, the government may grant such firm a public franchise.
The difference in testing for impairment of a finite-life versus indefinite-life intangible asset is: Multiple Choice The measure of an impairment loss for an indefinite-life intangible assets is not based on book value. Subsequent recovery of an impairment loss is allowed for a finite-life intangible asset. The cash flow recoverability test is omitted for an indefinite-life intangible asset. Companies are not required to recognize impairment losses on finite-life intangible assets.
Answer:
c. The cash flow recover ability test is omitted for an indefinite life intangible asset
Explanation:
The difference in testing for impairment of a finite-life versus indefinite-life intangible asset is the cash flow recover ability test is omitted for an indefinite life intangible asset. The cash flow recover ability test is omitted from the Indefinite life intangible asset because most of the it meet this test easily since their cash flow occur for indefinite life. Whereas under definite life tangible asset, this test is used since their cash flow is limited to some years only.