Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.
Cost of good soldUsing this formula
Cost of goods sold=Goods available for sale-Inventory balance
Where:
Goods available for sale=$1,074,450
Inventory balance=$85,430
Let plug in the formula
Cost of good sold=$1,074,450-$85,430
Cost of good sold=$989,020
Inconclusion Using the lower-of-cost-or-market rule, what is the cost of goods sold for Hodges is: C. $989,020.
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Legislative framework that supports government in employing majority of citizens in South Africa ?
The legislative framework that supports the government in employing the majority of citizens in South Africa is known as the National Council of Provinces.
What is the National Council of Provinces?The National Council of Provinces is the upper house of the Parliament in South Africa under the post-apartheid era and is under their constitution. They came into full effect in 1997.
The National Council of Provinces is given large slots for employment. They make sure citizens are employed. They also enact laws to protect the rights of their citizens under labor law.
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Who can access presentations shared online using PowerPoint’s broadcast service?
A) anyone with the URL
B) anyone with a password
C) only an invited audience
D) only those with a secure ID
The people who can access a presentation online via the broadcast service are A) anyone with the URL.
Who has access via PowerPoint’s broadcast service?This is a feature on PowerPoint that allows people to view a presentation on their own computers while the presenter presents from theirs.
The people who can access this presentation are those with the URL to the broadcast service thereby allowing them to log onto the service.
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Nash Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $7,500,000 on January 1, 2020. Nash expected to complete the building by December 31, 2020. Nash has the following debt obligations outstanding during the construction period.
Construction loan-12% interest, payable semiannually, issued December 31, 2019 $3,000,000
Short-term loan-10% interest, payable monthly, and principal payable at maturity on May 30, 2021 2,100,000
Long-term loan-11% interest, payable on January 1 of each year. Principal payable on January 1, 2024 1,500,000
Assume that Nash completed the office and warehouse building on December 31, 2020, as planned at a total cost of $7,800,000, and the weighted-average amount of accumulated expenditures was $5,400,000.
Required:
a. Compute the avoidable interest on this project.
b. Compute the depreciation expense for the year ended December 31, 2020.
Answer:
a. $610,080
b. $267,002.67
Explanation:
a. Weighted interest for short and long term loan.
Interest on short term loan = 10% * 2,100,000 = $210,000
Interest on long term loan = 11% * 1,500,000 = $165,000
Weighted interest = (210,000 + 165,000) / (2,100,000 + 1,500,000)
= 10.42%
Avoidable interest = Construction interest + ((Weighted-average amount of accumulated expenditures - Construction cost) * Weighted interest )
= (3,000,000 * 12%) + ((5,400,000 - 3,000,000) * 10.42%)
= $610,080
b. Capitalized cost = Cost to complete office and warehouse + Avoidable interest
= 7,800,000 + 610,080
= $8,410,080
Salvage value and Useful life are not included so assuming a salvage value of $400,000 and 30 years using a straight line depreciation, depreciation is;
Depreciation = (8,410,080 - 400,000 ) / 30
= $267,002.67
A year ago a country reduced the tax rate on all interest income from 20% to 10%. During the year private saving was $500 billion as compared to $400 billion the year before the tax reform. Taxes on interest income fell by $10 billion. Assuming no other changes in income, or government revenues or spending, which of the following is correct? a. the substitution effect was larger than the income effect; national saving rose b. the substitution effect was larger than the income effect; national saving fell c. the income effect was larger than the substitution effect; national saving rose d. the income effect was larger than the substitution effect; national saving fell
Answer:
a. the substitution effect was larger than the income effect; national saving rose
Explanation:
In macroeconomics, the substitution effect means that as the return on savings increases, households will substitute current spending and will save more in order to be able to spend more in the future.
In this case, since interests from bonds, CDs, etc., are taxed at a much lower rate, the after tax return from investing on any of them increases. Households consider that the money that they can earn now by investing on them is more valuable than consuming goods or services immediately.
Hudson Corporation will pay a dividend of $3.26 per share next year. The company pledges to increase its dividend by 6.5 percent per year indefinitely. If you require a return of 15 percent on your investment, how much will you pay for the company’s stock today?
The value of the company' stock today given the dividend, growth rate and required return is $38.35.
What is the value of the company's stock today?The value of the company's stock today can be determined using the gordon constant growth dividend model.
Gordon constant growth dividend model = dividend to be paid next year / (required return - growth rate)
$3.26 / (0.15 - 0.065) = $38.35
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Suppose there is a fall in the price of a good from $ to half the price, the quantity demanded increases from x to 3x units, and the price elasticity of demand is . Now suppose there is an increase in the price of a good from $ to double its price and the price elasticity is . The elasticity is enter your response here , and remains the same regardless of an increase or decrease in price. (Round your response to two decimal places.) This is known as ▼ income elasticity arc elasticity cross-price elasticity .
The type of elasticity of demand that's illustrated based on the price given is arc elasticity.
What is elasticity of demand?The elasticity of demand simply means the degree of responsiveness based on the change in the price of a product.
In this case, type of elasticity of demand that's illustrated based on the price given is arc elasticity. This measures the quantity demanded to a price.
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High-Low Method for a Service Company Continental Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Continental Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,372,000 378,000 February 1,529,700 423,000 March 1,081,100 274,000 April 1,466,600 409,000 May 1,230,100 329,000 June 1,577,000 445,000 Determine the variable cost per gross-ton mile and the total fixed cost. Variable cost (Round to two decimal places.) $ per gross-ton mile Total fixed cost $
Answer:
$2.9 and $286,500
Explanation:
Variable cost per gross ton mile= [High transportation cost - Low transportation cost] / [High gross ton miles - Low gross to miles ]
= [$1,577,000 - $1,081,100] / [445,000 miles - 274,000 miles]
= $495,900 / 171,000 miles
= $2.9
Total fixed cost
= High operating cost - [High gross ton miles × Variable cost per gross ton mile]
= $1,577,000 - [445,000 miles × $2.9]
= $1,577,000 - $1,290,500
= $286,500
For each of the following transactions for New Idea Corporation, give the accounting equation effects of the adjustments required at the end of the month on July 31:
a. Received a $510 utility bill for electricity usage in July to be paid in August.
b. Owed wages to 15 employees who worked two days at $55 each per day at the end of July. The company will pay employees at the end of the first week of August.
c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $660 for one full year of interest. No interest has been recorded yet.
Answer:
first I will journalize the adjustments:
a. Received a $510 utility bill for electricity usage in July to be paid in August.
Dr Utilities expense 510
Cr Accounts payable 510
b. Owed wages to 15 employees who worked two days at $55 each per day at the end of July. The company will pay employees at the end of the first week of August.
Dr Wages expense 1,650
Cr Wages payable 1,650
c. On July 1, loaned money to an employee who agreed to repay the loan in one year along with $660 for one full year of interest. No interest has been recorded yet.
Dr Interest receivable 660
Cr Interest revenue 660
effects on the accounting equation:
Assets = Liabilities + Equity
a. 0 510 -510
b. 0 1,650 -1,650
c. 660 0 660
660 2,160 -1,500
Revenue - Expenses = Net income Cash flow
a. 0 510 -510 0 OA
b. 0 1,650 -1,650 0 OA
c. 660 0 660 0 OA
660 2,160 -1,500 0 NC
In response to accounting scandals and the collapse of Enron at the turn of the century, the U.S. Congress passed the Sarbanes-Oxley Act to establish a system of federal oversight of corporate accounting practices. The purpose of the law is to hold CEOs accountable in matters of financial reporting, and to ensure the truthfulness of statements offered to investors. Despite the law's good intentions, businesses must now spend millions of dollars each year just to comply with the regulations. However, the steep challenges of compliance have created a boom in new accounting firms that specialize in helping companies meet the law's requirements.
Congress passed Sarbanes-Oxley into law as a response to:________
a. Executive CEO pay
b. Financial scandals and corporate fraud
c. Consumer protection violations
d. Globalization
Answer:
Financial scandals and corporate fraud
Explanation:
The Sarbanes-Oxley Act was passed in 2002. The purpose of the act was to protect investors from fraudulent financial reporting by corporations.
Alamar Petroleum Company offers its employees the option of contributing retirement funds up to 5% of their wages or salaries. with the contribution being matched by Alamar. The company also pays 80% of medical and life insurance premiums. Deductions relating to these plans and other payroll information for the first biweekly • Appendix payroll period of February are listed as follows:Wages and salaries $2,000,000Employee contribution to voluntary retirement plan 84,000Medical insurance premiums 42,000Life insurance premiums 9,000Federal income taxes to be withheld 400,000Local income taxes to be withheld 53,000Payroll taxes:Federal unemployment tax rate 0.60%State unemployment tax rate (after FUTA deduction) 5.40%Social Security tax rate 6.20%Medicare tax rate 1.45%Required:Prepare the appropriate journal entries to record salaries and wages expense and payroll tax expense for the biweekly pay period. Assume that no employee's cumulative wages exceed the relevant wage bases for Social Security, and that all employees' cumulative wages do exceed the relevant unemployment wage bases.
Answer:
Dr Salaries and Wages Expense 2,000,000
Cr Withholding taxes payable - Federal Income 410,000
Cr Withholding taxes payable - State income taxes 53,000
Cr Social Security taxes payable 124,000
Cr Medicare taxes payable 29,000
Cr Medicare Insurance payable 8,400
Cr Life Insurance payable 1800
Cr Retirement Plan payable 84000
Cr Salaries and Wages payable 1,289,800
Dr Payroll tax expense 273,000
Cr Social Security taxes payable 124,000
Cr Medicare taxes payable 29,000
Cr State Unemployment taxes payable 108,000
Cr Federal Unemployment taxes payable 12,000
Dr Salaries and Wages Expense 124,800
Cr Medicare Insurance payable 33,600
Cr Life Insurance payable 7,200
Cr Retirement plan payable 84,000
Explanation:
Preparation of Journal entries
Alamar Petroleum Company
Dr Salaries and Wages Expense 2,000,000
Cr Withholding taxes payable - Federal Income 410000
Cr Withholding taxes payable - State income taxes 53,000
Cr Social Security taxes payable 124,000
Cr Medicare taxes payable 29,000
Cr Medicare Insurance payable 8,400
Cr Life Insurance payable 1800
Cr Retirement Plan payable 84000
Cr Salaries and Wages payable 1,289,800
(To record salaries and wages expense)
Dr Payroll tax expense 273,000
(124,000+29,000+108,000+12,000)
Cr Social Security taxes payable 124,000
Cr Medicare taxes payable 29,000
Cr State Unemployment taxes payable 108,000
Cr Federal Unemployment taxes payable 12,000
(To record payroll taxes expense)
Dr Salaries and Wages Expense 124,800
(33,600+7200+84,000)
Cr Medicare Insurance payable 33,600
Cr Life Insurance payable 7,200
Cr Retirement plan payable 84000
(To record salaries and wages expense)
Workings:
Social security taxes payable = 2,000,000 x 6.2% = 124,000
Medicare taxes payable = 2,000,000 x 1.45% = 29,000
State unemployment taxes payable = 2,000,000 x 5.4% = 108,000
Federal unemployment taxes payable = 2,000,000 x 0.6% = 12,000
Medical insurance payable = 42,000 x 20% = 8400
Life insurance payable = 9000 x 20% = 1800
Medical insurance payable = 42,000 x 80% =33,600
Life insurance payable = 9000 x 80% = 7200
ABC Limited entered into a contract with XYZ (Pty) Ltd for the supply of electricity to the plant of XYZ situated in Walvis Bay Namibia. The contract will come into effect on the 01 June 2020 for a period of 3 years. ABC Limited is expected per the contract to provide the electrical transformer to XYZ, as well as two electrical engineers will be sourced out to XYZ for the maintenance of the electricity supply to XYZ’s plant. ABC Limited usually sells transformers at the price of NAD 1,500,000.00; however, they will be providing the transformer to XYZ Limited free as part of the contract. ABC Limited only source out their engineers to their clients that have entered into the electricity supply contract with them. The contract stipulated the prices to XYZ as below: Monthly electricity cost NAD 175,000.00 Engineers support monthly cost NAD 120,000 XYZ may use electricity to no limit. The monthly electricity cost is at a fixed monthly rate. The appropriate nominal interest rate applicable to the internet service provision contracts is 10% per annum, compounded monthly. It remains fixed for the full period of the contract.
REQUIRED
a) Provide the journal entries to account for the contract with XYZ (Pty) Ltd in the records of ABC Limited for the year ended 31 December 2020. Journal entries are to be provided on each relevant date (do not accumulate amounts for the year).
Answer:
HOPE IT'S HELP YOU
Explanation:
I'M SORRY IF THE PICTURE IS SO BLURRY.
Which of the following statements is CORRECT? Group of answer choices Relative to proprietorships, corporations generally face fewer regulations, and they also find it easier to raise capital. Stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. One disadvantage of operating as a corporation rather than as a partnership is that corporate shareholders are exposed to more personal liability than are partners. There is no good reason to expect a firm's stockholders and bondholders to react differently to the types of assets in which it invests.'
Answer:
Stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns.
Explanation:
NOTE THIS TERMS
✓Stockholders is also regarded as shareholders, it could be individual or institution having one or more share of stock in a coporation (public or private) and it must be a legal deal.
✓bondholders are investor participating in bond securities.
From the question the correct statement is "Stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns"
This is true because any profit made from the share of stock, the Stockholders have their own dividend there, but bondholders irrespective of profit made, their own interests is fixed. Hence,more profits are attributed Stockholders.
The projections for a new project show sales of 8,500 units, give or take 5 percent. The expected variable cost per unit is $28.62 and the expected fixed cost is $164,000. The fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. The depreciation expense is $62,000 and the tax rate is 35 percent. The sale price is estimated at $55 a unit, give or take 2 percent. The company bases its sensitivity analysis on the expected case scenario. What is the operating cash flow for a sensitivity analysis using total fixed costs of $170,000
Answer:
$56,950
Explanation:
We will calculate the operating cash flow as follow;
OCF = {[($55 - $28.62) 8,500 ] - $170,000} × (1 - 0.35) + ($62,000 × 0.35)
= {[$224,230] - $170,000} × 0.65 + ($21,700)
= $35,249.5 + $21,700
= $56,950
Therefore, the operating cash flow is $56,950
Kenny, Inc., is looking at setting up a new manufacturing plant in South Park. The company bought some land six years ago for $8.4 million in anticipation of using it as a warehouse and distribution site, but the company has since decided to rent facilities elsewhere. The land would net $11.2 million if it were sold today. The company now wants to build its new manufacturing plant on this land; the plant will cost $22.4 million to build, and the site requires $990,000 worth of grading before it is suitable for construction. What is the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project?
Answer:
$34,590,000
Explanation:
Kenny incorporation is looking at setting up a new manufacturing plant in South park
The company purchased some lands six years ago $8.4 million
The land will net $11.2 million if sold today
The plant will cost $22.4 million to build
The site requires $990,000 worth of grading before construction
Therefore the proper cash flow can be calculated as follows
= opportunity costs + costs + upgradation
= $11,200,000 + $22,400,000 + $990,000
= $34,590,000
Hence the proper cash flow is $34,590,000
A company must decide between scrapping or reworking units that do not pass inspection. The company has 44,000 defective units that have already cost $264,000 to manufacture. The units can be sold as scrap for $156,000 or reworked for $198,000 and then sold for $374,000. If the company decides to rework the units, incremental income equals:
If the company decides to rework the units, its incremental income equals $20,000.
What is incremental income?Incremental income represents the additional income gained after taking a decision, e.g. rework.
For instance, when this company reworks the units, it reduces its loss from $108,000 if the units were sold as scrap to $88,000.
Thus, the incremental income is the difference between $108,000 and $88,000 loss.
Data and Calculations:Defective units = 44,000
Cost of defective units = $264,000
Scrap value of defective units = $156,000
Cost of rework = $198,000
Sales value after rework = $374,000
Incremental income after rework =
Loss when sold as scrap = $108,000 ($264,000 - $156,000)
Loss when sold after rework = $88,000 ($374,000 - $264,000 - $198,000)
Incremental income after rework = $20,000 ($108,000 - $88,000)
Thus, if the company decides to rework the units, its incremental income equals $20,000.
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Note 1: On April 1 of the current year, Warren Corporation received a $34,000, 10 percent note from a customer in settlement of a $34,000 open account receivable. According to the terms, the principal of the note and interest are payable at the end of 12 months. The annual accounting period for Warren ends on December 31.
Note 2: On August 1 of the current year, to meet a cash shortage, Warren Corporation obtained a $34,000, 12 percent loan from a local bank. The principal of the note and interest expense are payable at the end of six months.
Required:
For the relevant transaction dates of each note, indicate the amounts and the direction of effects on the elements of the balance sheet and income statement.
Journalize the following transactions for the buyer, Brooks Company, using the gross method to account for purchase discounts. Assume a perpetual inventory system.
a. November 6 Purchased merchandise from Nelson Company on account, $10,000, terms 4/10, n/30. The goods are shipped FOB shipping point, freight prepaid by seller, $450.
b. November 12 Returned to Nelson Company merchandise previously purchased on account, $2,300.
c. November 16 Paid the amount due to Nelson Company.
Answer:
Brooks Company
Journal Entries
a. November 6:
Debit Inventory $10,000
Credit Accounts Payable (Nelson Company) $10,000
To record the purchase of goods on account, terms 4/10, n/30.
b. November 12:
Debit Accounts Payable (Nelson Company) $2,300
Credit Inventory $2,300
To record the return of goods.
c. November 16:
Debit Accounts Payable (Nelson Company) $7,700
Credit Cash Discount $308
Credit Cash Account $7,392
To record the payment of cash on account.
Explanation:
Brooks Company uses Journal entries to record its business transactions as they occur on a daily basis. Journal entries identify the accounts to be debited and the accounts to be credited as they will appear in the general ledger.
ABCD A building was purchased for $350,000 with a 20% down payment. If the lender charged the buyer three discount point, how much will the buyer need to cover these two items
The buyer of the building will need $424,976.87 to cover these two items.
How are the total mortgage payments determined?The total mortgage payments can be determined using an online finance calculator as below.
Data and Calculations:Monthly Pay = $1,180.49
House Price = $350,000.00
Loan Amount = $280,00 ($350,000 - $70,000)
Down Payment = $70,000 ($350,000 x 20%)
Interest rate = 3%
Total of 360 Mortgage Payments = $424,976.87
Total Interest = $144,976.87
Thus, the buyer of the building will need $424,976.87 to cover these two items.
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When the money market is drawn with the value of money on the vertical axis, if the price level is below the equilibrium level, there is an
A. excess demand for money, so the price level will rise.
B. excess demand for money, so the price level will fall.
C. excess supply of money, so the price level will rise.
D. excess supply of money, so the price level will fall.
Answer:
A.
Explanation:
The value of money will rise so A, excess demand for money, so the price level will rise.
When the money market is drawn with the value of money on the vertical axis, if the price level is below the equilibrium level, there is an excess demand for money, so the price level will rise. Hence, option A is appropriate.
What is the meaning of the money market?Bank accounts, including term certificates of deposit, interbank loans (loans between banks), money market mutual funds, commercial paper, Treasury bills, and securities lending and repurchase agreements are among the items traded in money markets (repos).
A part of the economy that offers short-term funding is the money market. Short-term loans are often made on the money market for a year or less.
Short-term Treasury securities, such as T-bills, certificates of deposit (CDs), commercial paper, repurchase agreements (repos), and money market mutual funds whose investment in these assets are some of the different types of securities that make up the money market.
Local and foreign traders that require quick access to funds can get it through the money market. It offers a provision for bills of exchange to be discounted, which enables quick financing for the purchase of goods and services. The acceptance houses and discount marketplaces are advantageous to international dealers.
Hence, option A is correct.
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Corporate profits distributed as dividends are Group of answer choices tax free. taxed once. taxed twice. taxed three times.
Corporate profits distributed as dividends are taxed twice
What are dividends?Dividend is a distribution of a small percentage of profits to shareholders. It is a share of a company's profits distributed to shareholders, and usually paid quarterly, like a bonus to investors.
Shareholders participate and share in the growth of the underlying business through dividends. Profits earned by a corporation and given to shareholders are called dividends.
Hence, corporate profits distributed as dividends are taxed twice
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Project management differs from management of more traditional activities mainly because of: (I) its limited time frame. (II) its unique, defined set of activities. (III) the requirement for use of the appropriate resources. (IV) the need for planning and execution.
The difference that project management shows from the management of more traditional activities is that project management has:
Its limited time frame Its unique, defined set of activities.What is Project Management?Project management is the use of techniques, procedures, skills, knowledge, and expertise to accomplish specific project objectives within agreed-upon constraints. Project management contains final deliverables that must be completed within a specific timeframe and budget.
A significant distinction between project management and 'management of traditional activities' is that project management has an ultimate outcome and a fixed timeframe, whereas management is a continuous activity.
As a result, a project professional must possess a diverse set of talents, including frequently technical abilities, as well as people management abilities and commercial acumen.
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E6-11 Suppose this information is available for PepsiCo, Inc. for 2015, 2016, and 2017. (in millions) 2015 2016 2017 Beginning inventory $ 1,926 $ 2,290 $ 2,522 Ending inventory 2,290 2,522 2,618 Cost of goods sold 18,038 20,351 20,099 Sales revenue 39,474 43,251 43,232 Instructions (a) Calculate the inventory turnover for 2015, 2016, and 2017. (Round to one decimal place.) (b) Calculate the days in inventory for 2015, 2016, and 2017. (c) Calculate the gross profi t rate for 2015, 2016, and 2017. (d) Comment on any trends observed in your answers to parts (a), (b), and (c)
Answer:
PepsiCo, Inc.
a) Computation of the Inventory Turnover:
= Cost of goods sold/Average Inventory
(in millions) 2015 2016 2017
= Cost of goods sold 18,038 20,351 20,099
/ Average Inventory $2,108 $2,406 $2,570
= 8.6 times 8.5 times 7.8 times
b) computation of the days in inventory:
= Days in the period/Inventory Turnover Ratio
(in millions) 2015 2016 2017
= Days in the period 365 365 365
/ Inventory Turnover Ratio 8.6 times 8.5 times 7.8 times
= 42 days 43 days 47 days
c) Computation of the Gross profit rate:
= Gross profit/Sales * 100
(in millions) 2015 2016 2017
Gross profit $21,436 $22,900 $23,142
/ Sales Revenue 39,474 43,251 43,232
= 54.3% 52.9% 53.5%
d) PepsiCo's inventory turnover reduced marginally from 2015 to 2017. The days in inventory fluctuated unsteadily just like the gross profit rate in the three years under review.
Explanation:
a) Data and Calculations:
(in millions) 2015 2016 2017
Beginning inventory $ 1,926 $ 2,290 $ 2,522
Ending inventory 2,290 2,522 2,618
Total Inventory 4,216 4,812 5,140
Average Inventory $2,108 $2,406 $2,570
Sales revenue 39,474 43,251 43,232
Cost of goods sold 18,038 20,351 20,099
Gross profit $21,436 $22,900 $23,142
PepsiCo's inventory turnover is a ratio that shows the frequency at which the company sells and replenishes its goods during an accounting period. It is calculated as the cost of goods sold divided by the average inventory.
PepsiCo's days in inventory indicates the number of days the company takes to sell its inventory. It is calculated as the number of days in the period, e.g. 365 days, divided by the inventory turnover ratio.
The Gross profit rate shows the relationship between the gross profit and the sales revenue. It is the percentage of sales revenue that covers the business expenses and from which net income is derived.
Great Lakes Clinic has been asked to provide exclusive healthcare services for next year's World Exposition. Although flattered by the request, the clinic's managers want to conduct a financial analysis of the project. There will be an up-front cost of $160,000 to get the clinic in operation. Then, a net cash inflow of $1 million is expected from operations in each of the two years of the exposition. However, the clinic has to pay the organizers of the exposition a fee for the marketing value of the opportunity. This fee, which must be paid at the end of the second year, is $2 million. a. What are the cash flows associated with the project
The cash flow that is associated with this project are:
-$160000$1000000-$1000000What is a cash flow?This term is used to refer to the net cash that is moved in or out of a business at a particular time.
Cash flow for year 0
The initial cash flow = -$160000
cash flow = -$160000
Cash flow for year 1
This is the net cash flow = $1000000
Cash flow in the second year
Net cash flow minus organiners fee
= 1000000- 2000000
= -$1000000
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Jean-Ann works in the finance business. She analyzes insurance applications in order to determine the level of risk involved in insuring the applicant, then decides whether or not to insure them. Jean-Ann works as
a. an Insurance Underwriter.
b. an Insurance Sales Agent.
c. a Financial Advisor.
d. a Financial Analyst.
Answer:
a. an Insurance Underwriter
Explanation:
An insurance underwriter is a professional working with an insurance company whose role is to assess the risk in each application for insurance. After evaluation, the underwriter decides whether to accept or reject the application for insurance cover. The insurance underwriter represents the interest of the company, not the customer.
Answer:
A
Explanation:
Yummy Bakery is considering the purchase of 3 wheat farms, located in KS, ND, and WA. The wheat production and costs of these farms are as follows: Production Ton/year Cost ($ mill) KS Farm 15,000 5 ND Farm 12,000 6 WA Farm 17,000 8 The production of these plants have to satisfy the wheat consumption of the Colorado plant, currently at 22000 ton/year. The available budget is $20 mill. The company needs to know which of the 3 farms to purchase in order to minimize cost. Formulate the objective function Question 6 options: Min 5KS 6ND 8WA Min 15,000KS 12,000ND 17,000WA Max 5KS 6ND 8WA Min KS ND WA
Answer: Min 5KS+6ND+8WA
Explanation:
For the objective function to be formulated, we have to minimize the cost. For this to be done, the capacity constraint which is given in the question as 22000 ton/year has to be satisfied.
For this question, the objective function will be to minimize 5KS + 6ND + 8WA. It should be noted that KS, ND and WA in this context are binary variables where 0 represents non-selected farm and 1 represents selected farm.
Spinoza, a professional hockey player, sustained serious injuries when a flying puck penetrated the face protector on his helmet. Spinoza decides to bring a products liability suit against his team and the helmet manufacturer alleging that the face mask component of the helmet was defectively designed. In such a case, which proof element (i.e., evidence) would be helpful to Spinoza:
a. an alternative face mask design (deemed safer in independent laboratory tests) has been available in the marketplace for several years.
c. the management of Spinozaâs team is aware of the safer design but allows players to choose their own preferred (less safe in many cases) helmet.
d. use of the alternative design could have reduced or avoided Spinozaâs injury.
e. all of the above.
Answer:
Option e (all of the above) is the correct choice.
Explanation:
Besides Ice Hockey Players helmets, this year's inclusion methodology is investigated:
The neighborhood of coverage, extensiveness and shape of protective material, stabilization framework percentage of elongation, and thermal expansion. ASTM F1045 "Standard successful project regarding Ice Hockey Helmets" seems to be the requirement used for an athlete helmet evaluation. The minimum sections including its head that even the helmet should protect and defend are required by this requirement. The norm stipulates who and how wide gaps throughout the helmet should be, in comparison to something like the coverage criteria. By measuring the chinstrap for resilience and flexural strength and therefore by investigating the effectiveness absorption characteristics including its helmet liner, the strength including its helmet is assessed.Via measuring the chinstrap for resilience and elasticity and therefore by investigating the effectiveness absorbing properties of the helmet liner, the consistency including its helmet is assessed. All tests are carried out using helmets that have been applied to head shapes that mimic separate physical head sizes. The helmet is mounted on a head shape for the retaining scheme and perhaps a pressure is applied that used a method to mimic the configuration of the chin bone. The endurance as well as elongation characteristics of the harness including its helmet are measured.The innovative face mask style that Spinoza's may have used seems to have been commercially available for far too many decades. Spinoza's team leadership is conscious including its safer style, but it encourages participants to select their favorite helmet. Unless the alternative architecture could also have been minimized or eliminated through the use of Spinoza.Some other alternative options offered are not comparable to something like the situation described. So, the best option is the one above.
If you want to be a resource scientist, which of the following is required in order to begin in that field?
A: Bachelor's degree
B: Associates degree
C: Doctorate degree
Which intangible assets are amortized over their useful life?
a. trademarks
b.goodwill
C. patents
d. all of these
Answer:
D. All of the above
Explanation:
Hope this helps
On July 1, 2022, Sandhill Co. pays $22,000 to Cullumber Company for a 2-year insurance contract. Both companies have fiscal years ending December 31.
Required:
Journalize the entry on July 1 and the adjusting entry on December 31 for Cullumber Company.
Answer:
Dr Prepaid insurance 22,000
Cr cash 22,000
Dr Insurance expense 5,500
Cr Prepaid insurance 5,500
Explanation:
Preparation of Journal entries
Based on the information given we were told that Sandhill Company pays the amount of $22,000 to another company which is Cullumber Company for a 2-year insurance contract in which Both the companies have fiscal years that is ending December 31 which means that the Journal entry will be recorded as:
Dr Prepaid insurance 22,000
Cr cash 22,000
Dr Insurance expense 5,500
Cr Prepaid insurance 5,500
[(22,000*6/12)/2]
Dr Prepaid insurance 22,000
Cr cash 22,000
(Being cash paid is recorded)
here prepaid insurance is debited since it increased the assets and credited the cash since it decreased the assets
And,
Dr Insurance expense 5,500 ($22,000 ÷24 × 6)
Cr Prepaid insurance 5,500
(Being adjusted entry is recorded)
here insurance expense is debited since it increased the expense and credited the prepaid insurance since it decreased the assets
learn more about the insurance here: https://brainly.com/question/24441770
Problem 9-6A Due to rapid employee turnover in the accounting department, the following transactions involving intangible assets were improperly recorded by Culver Corporation. 1. Culver developed a new manufacturing process, incurring research and development costs of $197,900. The company also purchased a patent for $46,800. In early January, Culver capitalized $244,700 as the cost of the patents. Patent amortization expense of $12,235 was recorded based on a 20-year useful life. 2. On July 1, 2017, Culver purchased a small company and as a result recorded goodwill of $92,000. Culver recorded a half-year’s amortization in 2017, based on a 20-year life ($2,300 amortization). The goodwill has an indefinite life. Prepare all journal entries necessary to correct any errors made during 2017. Assume the books have not yet been closed for 2017
Answer and Explanation:
The Journal entries are shown below:-
1. a. Research and Development Expenses Dr, $197,900
To Patents $197,900
(To record R and D cost)
b. Patent Dr, $9,895 ($197,900 ÷ 20)
To Amortization expenses-Patents $9,895
(To record the correct error)
or
Accumulated Amortization-Patent Dr, $9,895
To Amortization expenses-Patents $9,895
2. Goodwill Dr, $3,000
To Amortization Expenses $3,000
(Being Goodwill is recorded)