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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All of the following distributions of stock dividends are taxable except: a. The shareholders have the choice to receive cash or other property instead of stock or stock rights. b. The distribution of common stock is made on a prorated basis on common stock outstanding. c. The distribution gives cash or other property to some shareholders and an increase in the percentage interest in the corporation's assets or earnings and profits to other shareholders. d. The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders.
Answer:
d. The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders.
Explanation:
This is likely the answer to the question. There is no way preferred stock would be given to some common stock shareholders while common stock to other stock to others.
Clopack Company manufactures one product that goes through one processing department called Mixing. All raw materials are introduced at the start of work in the Mixing Department. The company uses the weighted-average method of process costing. Its Work in Process T-account for the Mixing Department for June follows (all forthcoming questions pertain to June): Work in Process—Mixing Department June 1 balance 25,000 Completed and transferred to Finished Goods ? Materials 157,080 Direct labor 99,500 Overhead 117,000 June 30 balance ? The June 1 work in process inventory consisted of 4,000 units with $13,020 in materials cost and $11,980 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 36,500 units were started into production. The June 30 work in process inventory consisted of 9,600 units that were 100% complete with respect to materials and 50% complete with respect to conversion. g
Answer:
beginning WIP 4,000 units:
materials $13,020 (100% complete)
conversion $11,980 (60% complete)
35,000 units started into production
ending WIP = 9,600 units
materials 100% complete ⇒ EU = 9,600
conversion 50% complete ⇒ EU = 4,800
costs added during June:
materials $157,080
conversion $99,500 + $117,000 = $216,500
units transferred out = 35,000 + 4,000 - 9,600 = 29,400 units
EU production:
materials = 39,000
conversion = 29,400 + 4,800 = 34,200
total costs:
materials = $13,020 + $157,080 = $170,100
conversion = $11,980 + $216,500 = $228,480
cost per equivalent unit:
EU for materials = $170,100 / 39,000 = $4.3615
EU for conversion = $228,480 / 34,200 = $6.6807
total costs assigned to finished units = (29,400 x $4.3615) + (29,400 x $6.6807) = $324,642
total costs assigned to ending WIP = (9,600 x $4.3615) + (4,800 x $6.6807) = $73,938
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
questions
Online Content Site 1
When doing career research online, you always want to make sure you are viewing a reliable source, what factors about the
website do you want to consider?
-Expertise of the site: Check if the websites specialize in information related to careers to make sure they have knowledge about the topic.
-Well-known organization: Validate if the organization that manages the website is well established and is considered reliable.
-Date and author: Look for the date to make sure the information is up to date and avoid information with anonymous authors.
-Site's look: Consider if the website has a professional appearance as that can show that it could be reliable. However, other factors have to be taken into account.
Answer:Expertise of the site: Check if the websites specialize in information related to careers to make sure they have knowledge about the topic.
-Well-known organization: Validate if the organization that manages the website is well established and is considered reliable.
-Date and author: Look for the date to make sure the information is up to date and avoid information with anonymous authors.
-Site's look: Consider if the website has a professional appearance as that can show that it could be reliable. However, other factors have to be taken into account.
3. What does the team think Wheat’s boss should do to address this problem?
Answer:
Привет, как ты?
самый умный я
Outline how a multinational food production company would process a food commodity from its rawest form in a developing
country to its finished state on store shelves in the United States or Europe.
Answer:
See below
Explanation:
A multinational company is a business organization that operates in more than one country. The company will have its headquarters in its domicile country and branches in separate countries. Businesses grow to multinationals to get closer to their target markets, avoid protection laws, and take advantage of lower production costs.
A multinational in the food industry may set up a factory in an African country where raw materials are readily available. This move will see it increase its production volumes at a lower cost. The company will establish branches in American and Europe, where its target market is located. It can operate retail stores in these regions to sells its products from the factory in Africa.
The purpose of the fair value adjustment for marketable equity securities is to: Adjust a corporation's capital stock account to reflect the current market value of the outstanding capital stock. Compute the amount of taxes payable on unrealized gains and losses. Adjust the valuation of a company's investment in those securities to current market value. Recognize the average gain or loss on fluctuations in the market value of these securities in the current period income statement.
The main purpose of the fair value adjustment for marketable equity securities is to adjust a corporation's capital stock account to reflect the current market value of the outstanding capital stock.
What is a marketable equity securities?This securities represents investments that can easily be bought, sold or traded on public exchanges.
Some examples of a marketable equity securities includes a stocks, bonds, preferred shares, ETF etc.
However, the periodic fair value adjustment for marketable equity securities is to adjust a corporation's capital stock account.
Therefore, the Option A is correct.
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Sydney has worked for WillCo for the last 20 years. She just had her 60th birthday and is thinking about retirement. WillCo sponsors an ESOP in which Sydney is a participant and has been since the plan's inception 18 years ago. WillCo stock has increased significantly and Sydney is considering diversifying her WillCo stock in the ESOP. Which of following statements is correct? a. Sydney can diversify 25% of her WillCo stock. b. Sydney can diversify 50% of her WillCo stock. c. Sydney cannot diversify until three years prior to retirement. d. Sydney can diversify all of her WillCo stock because she has more than three years of service.
Answer: c. Sydney can diversify 50% of her WillCo stock.
Explanation:
Employee stock ownership plan (ESOP) is simply referred to as an employee benefit where the employees of a particular company are given ownership interest as long as some certain criteria are met.
Once the workers become qualified participants, they can diversify certain percentage of their stocks. From the 1st-5th year, a qualified participant is allowed to diversify about 25% of his or her stock account and about 50% in the 6th year.
Based on the explanation, since Sydney has worked for WillCo for the last 20 years, Sydney can diversify 50% of her WillCo stock.
What is the present value of $150,000 to be received 10 years from today if the discount rate is 11 percent
Answer:
The answer is $52,827.67, give me brainliest answer:)
Change from the fair value method to the equity method Assume an investor company acquires for $256,000 an 8% investment in the common stock of an investee company on February 15, 2018. The investor determined the common stock of the investee has a readily determinable fair value. On December 31, 2018, the fair value of the 8% common stock investment is $272,000, and the investor company made made all of the appropriate adjustments in preparation of the annual financial statements. On March 1, 2019, the investor company acquires an additional 17% of common stock of the investee for $612,000, thereby increasing the investor's overall ownership interest to 25%.
Required a. Prepare the journal entries the investor company should record on March 1, 2019. Note: If a journal entry is not required, select "N/A" as your answers for the drop-down options and leave the Debit and Credit answers blank (zero).
Answer:
Date Account title and explanation Debit Credit
March 1 Equity investment $32,000
($612,000/17%)*8% - $256,000)
Unrealized holding gain $32,000
(To adjust the value of equity investment)
Note: On 1 march, value of the investment value is increased which is unrealized based on 31 December fair value
Four fundamental factors affect the supply of, and demand for, investment capital, hence the -Select- of money. These factors are: production opportunities, time preferences for consumption, risk, and inflation. If the entire population was living at the subsistence level, time preferences for current consumption would be -Select- , savings would be -Select- , interest rates would be -Select- , and capital formation would be -Select- . Producers' expected returns on their business investments set a(n) -Select- limit on how much they can pay for savings, while consumers' time preferences for consumption establish how much consumption they are willing to delay, and, consequently, how much they will -Select- at different interest rates. In addition, -Select- risk and -Select- inflation lead to higher interest rates. Determine whether each of the statements below is true or false:
Incomplete question. The complete question reads;
Four fundamental factors affect the supply of, and demand for, investment capital, hence the____of money.These factors are: production opportunities, time preferences for consumption, risk, and inflation. If the entire population was living at the subsistence level, time preferences for current consumption would be ___, savings would be ____, interest rates would be ___, and capital formation would be _____.Producers' expected returns on their business investments set a(n) ____ limit on how much they can pay for savings, while consumers' time preferences for consumption establish how much consumption they are willing to delay, and, consequently, how much they will ....... at different interest rates. In addition, ___risk and____inflation lead to higher interest ratesAnswer:
costhigh, low, high, difficultupper, save, higher, higherExplanation:
After filling the blanks with the words above we can reach the conclusion that each statement is true. For example, if we consider the statement,
"Producers' expected returns on their business investments set a(n) upper limit on how much they can pay for savings," we would agree that because they want to make a profit the producers try to reduce cost by setting an upper limit of how much they can pay.
Managing requires __________, while leading includes setting the direction.Multiple Choicecreating a visioninspiring peopleorchestrating changeplanning and budgeting routinescreating followers
Managing as a managerial function requires planning and budgeting while leading as a managerial function includes setting the direction.
What is management?Management can be regarded as the administration of an organization, could be in business, or non-profit organization.
Leading on the other hand requires setting vision for the organization, this is been done by the manager in order to achieve the organizational goals.
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Product Tango has revenue of $195,200, variable cost of goods sold of $115,600, variable selling expenses of $33,000, and fixed costs of $58,300, creating an operating loss of $(11,700).
Required:
a. Prepare a differential analysis as of February 13 to determine if Product Tango should be continued or discontinued , assuming fixed costs are unaffected by the decision.
b. Determine if Product Tango should be continued
Answer:
a.
Differential analysis on whether to continue or discontinue Product Tango
Continue Discontinue
Sales $195,200 $0
Less Variable Costs :
Cost of Goods Sold ($115,600) $0
Selling Expenses ($33,000) $0
Less Fixed Costs :
Fixed Costs ($58,300) ($58,300)
Net Income/ (Loss) ($12,300) ($58,300)
b
Continue with Product Tango. Because it brings a contribution towards the Fixed Costs helping to achieve a smaller loss margin.
Explanation:
From the differential analysis, Fixed costs will remain the same whether the product is discontinued or not. This is because they are centrally controlled. Only the variable costs would change.
Complete the following as your Main Post: Imagine that you are a manager at a consumer products company. Your company is in negotiations for a merger. If and when the two companies merge, it seems probable that some jobs will be lost, but you have no idea how many or who will be gone. You have five subordinates. One is in the process of buying a house while undertaking a large debt. The second just received a relatively lucrative job offer and asked for your opinion as his mentor. You feel that knowing about the possibility of this merger is important to them in making these life choices. At the same time, you fear that once you let them know, everyone in the company will find out and the negotiations are not complete yet. You may end up losing some of your best employees, and the merger may not even happen. What do you do
Answer:
In this situation, the manager should still go on with the merger if that is the best financial choice for stockholders.
Managers main, and essential goal, is to run the company in a way that maximizes value to stockholders, so, if the merger achieves that, the manager should absolutely carry on with the merger even if some employees end up losing their jobs as a result.
However, this does not mean that the manager should not try to save as many jobs as possible.
Management Accounting is a branch of Accounting information system responsible for the provision of information in support of managerial responsibilities. Explain with reference to empirical literature, how this is true
Answer:
Managerial accounting is the practice of analyzing and communicating financial data to managers, who use the information to make business decisions.
Explanation:
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual manufacturing overhead for year 2 was $800,000. Manufacturing overhead is applied on the basis of direct labor costs. Required: a. How much overhead was applied to each job in year 2? b. What was the over- or underapplied manufacturing overhead for year 2?
Answer:
Instructions are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 625,000/500,000
Predetermined manufacturing overhead rate= $1.25 per direct labor dollar
Now, we allocate overhead to each Job:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Job 2-1= 1.25*195,000= 243,750
Job 2-2= 1.25*325,000= 406,250
Job 2-3= 1.25*130,000= 162,500
Total allocated overhead= $812,500
Finally, the under/over allocation overhead:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 800,000 - 812,500
Under/over applied overhead= $12,500 overallocated
Manufacturing Over head over applied in job 2 and year 2 $12,500.
Overhead based problem:What information do we have?
Actual manufacturing overhead = $800,000
Applied overhead in job 2 year 1 = $195000 × 125%
Applied overhead in job 2 year 1 = $243750
Applied overhead in job 2 year 2 = $325000 × 125%
Applied overhead in job 2 year 2 = $406250
Applied overhead in job 2 year 3 = $130000 × 125%
Applied overhead in job 2 year 3 = $162500
Total Applied overhead = $243750 + $406250 + $162500
Total Applied overhead = $812,500
Overhead over applied = $812,500 - $800,000
Overhead over applied = $12,500
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Consider a situation where a manufacturer from country A and a distributor based in country B are considering a relationship. To serve this market, the firm from A must invest in new equipment, which can be used only for the B market. The two firms transact infrequently, and there is significant uncertainty about the nature of the market demand. Trust between the two firms is low, and country B's legal system to be unsympathetic to foreign firms. How should the manufacturer choose to organize its transactions
Spot market is the most suitable in organizing its transactions.
What is Spot market?
This is defined as a public financial market in which financial instruments or commodities are traded for immediate delivery.
Deliveries aren't usually done later due to different factors such as uncertainties between the companies involved. This depicts the low trust talked about in this scenario hence why Spot market was chosen as the most appropriate choice.
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A company rented a computer for $800 a month. Five years later the treasurer calculated that if the company had purchased the computer and paid a $100 monthly maintenance charge, the company would have saved $1000. What was the purchase price of the computer?
Based on the information given the purchase price of the computer is $41,000.
Purchase pricePurchase price=($800×12month×5)- [(5×12 month×$100)+$1,000]
Purchase price=$48,000-[$6,000+$1,000)
Purchase price=$48,000-$7,000
Purchase price=$41,000
Inconclusion the purchase price of the computer is $41,000.
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XYZ Co. has 4,400 bonds with a price of $925, 15,000 shares of preferred stock with a price of $55, and 250,000 share of common stock with a selling price of $32. . Calculate the capital structure weights of bonds, preferred stock, and common stock, respectively. XYZ Co. has 4,400 bonds with a price of $925, 15,000 shares of preferred stock with a price of $55, and 250,000 share of common stock with a selling price of $32. . Calculate the capital structure weights of bonds, preferred stock, and common stock, respectively. 42.5%, 21.4%, 36.1% 31.6%, 6.4%, 62.0% 38.0%, 10.2%, 51.8% 52.4%, 8.6%, 39%
Answer:
31.6%, 6.4%, 62.0%
Explanation:
The computation of weighted of capital structure is shown below:
But before that first determined the total value
Total value of bonds is
= (4,400 × $925)
= $4,070,000
Total value of preferred stock is
= 15,000 × $55
= $825,000
ANd,
Total value of common stock is
= 250,000 × 32
= $8,000,000
Now
Total value is
= $4,070,000 + $825,000 + $8,000,000
= 12,895,000
Now weight of each of is
For Bonds is
= $4,070,000 ÷ $12,895,000
= 31.6%
For Preferred stock
= $825,000 ÷ $12,895,000
= 6.4%
And,
Common stock is
= $8,000,000 ÷ $12,895,000
= 62%
Millbridge Township provides a variety of summer recreation alternatives. You can belong to the town pool, play tennis, or play golf. Summer passes allowing residents to use these facilities are sold each year. Twenty-five percent of the season's passes that are purchased are golf passes, 35 percent are for tennis, and the rest are for the pool. The golf passes are $30, the tennis passes are $50, and the pool passes are $70. The cost of providing these services is mostly fixed, with a $3 variable cost per pass, regardless of type. The fixed cost of operating the summer recreation program is $250,000.
Required:
How many people must buy recreation passes for the town to break even?
5000 people must buy recreation passes for the town to break even.
What is break even?Break even is the point at which the profit made is 0, that is the cost of production is equal to the revenue.
Let x represent the total number of people, hence:
Total cost = 250000 + 3x
Number of golf pass = 25% of x = 0.25x
Number of tennis pass = 35% of x = 0.35x
Number of pool pass = (100% - 35% - 25%) of x = 0.4x
Total revenue = ($30 * 0.25x) + ($50 * 0.35x) + ($70 * 0.4x) = 53x
At breakeven:
Total cost = total revenue
53x = 250000 + 3x
x = 5000
5000 people must buy recreation passes for the town to break even.
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Tightening Credit Terms Kim Mitchell, the new credit manager of the Vinson Corporation, was alarmed to find that Vinson sells on credit terms of net 90 days while industry-wide credit terms have recently been lowered to net 30 days. On annual credit sales of $2.83 million, Vinson currently averages 95 days of sales in accounts receivable. Mitchell estimates that tightening the credit terms to 30 days would reduce annual sales to $2,705,000, but accounts receivable would drop to 35 days of sales and the savings on investment in them should more than overcome any loss in profit. Vinson’s variable cost ratio is 72%, taxes are 40%, and the interest rate on funds invested in receivables is 20%. Assuming a 365-day year, calculate the cost of carrying receivables under the current policy and the new policy. Enter your answers as positive values. Do not round intermediate calculations. Round your answers to the nearest dollar. Current policy: $ New policy: $ Should the change in credit terms be made? -Select-
Answer:
first we must determine the average accounts receivable under the current policy:
($2,830,000 x 90 days) / 365 days = $697,808.22
carrying cost of current accounts receivable = $697,808.22 x 20% x 90/365 = $34,412.46
net after tax cost of current policy = $34,412.46 x (1 - 40%) = $20,647.48
average accounts receivable under the new policy:
($2,705,000 x 35 days) / 365 days = $259,383.56
carrying cost of new accounts receivable = $259,383.56 x 20% x 35/365 = $4,974.48
net after tax cost of new policy = $4,974.48 x (1 - 40%) = $2,984.69
net savings from new policy = $20,647.48 - $2,984.69 = $17,662.79
but the company will lose profits due to a decrease in total sales:
lost revenues = ($2,830,000 - $2,705,000) x (1 - 72%) x (1 - 40%) = $21,000
advantage/disadvantage of new policy = net savings - lost profits = $17,662.79 - $21,000 = -$3,337.21
Since the new policy decreases profits by $3,337.21, it should be rejected.
a. She estimates that the per year cost to attend a local university in Texas including room and board is $26,346. She also assumes the costs of attendance will rise by 2.8% per year. How much is a 4-year degree going to cost Scarlett
The 4-year degree will cost Scarlett a total of $109,893.33.
How is the total cost determined?The total cost of Scarlett's university education can be determined using the future value formula or an online finance calculator as follows:
Data and Calculations:Cost of university education = $26,346
Annual increase in cost = 2.8%
Duration of study = 4 years
From an online finance calculator:
N (# of periods) = 4 years
I/Y (Increment per year) = 2.8%
PV (Present Value) = $0
Annual PMT (Periodic Payment) =$26,346
Results:
FV = $109,893.33
Sum of all periodic payments + $105,384.00
Total increment = $4,509.33
Thus, the 4-year degree will cost Scarlett a total of $109,893.33.
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The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm: Purchased $80,000 of materials on account. Issued $4,000 of supplies from the materials inventory. Purchased $56,000 of materials on account. Paid for the materials purchased in transaction (1) using cash. Issued $68,000 in direct materials to the production department. Incurred direct labor costs of $100,000, which were credited to Wages Payable. Paid $106,000 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. Applied overhead on the basis of 125 percent of $100,000 direct labor costs. Recognized depreciation on manufacturing property, plant, and equipment of $50,000. The following balances appeared in the accounts of Steve’s Cabinets for April: Beginning Ending Materials Inventory $ 148,200 ? Work-in-Process Inventory 33,000 ? Finished Goods Inventory 166,000 $ 143,200 Cost of Goods Sold 263,400 Required: a. Prepare journal entries to record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
Account Debit Credit
Materials $8,000
Accounts Payable $8,000
Supplies $4,000
Materials $4,000
Materials $56,000
Accounts Payable $56,000
Cash $8,000
Accounts Payable $8,000
Supplies $68,000
Materials $68,000
Direct Labor Costs $100,000
Wages Payable $100,000
Cash $106,000
Utilities expense $106,000
Work in Process Overhead $125,000
Direct labor costs $125,000
Depreciation Expense $50,000
Accumulated Depreciation $50,000
what are the rules of a male and a female at home?
Answer:
male is the protector female is a light for their house male is the foundation of there house they provide everything thats a male work female helping dou house hold things comport there husband understand.
Which of the following is NOT a responsibility of a process owner? a. monitoring how a process performs b. ensuring operators within the process have the resources and training they need to succeed. c. comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project. d. understanding how the process fits into the overall business strategy
The answer choice which is not a responsibility of a process owner is c. comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project.
Who is a Process Owner?This refers to a person who is responsible for designing an effective process that makes use of technical resources and gives quality outcomes.
Hence, we can see that as a process owner, there are certain responsibilities which he has to do which include monitoring how a process performs, but he is NOT responsible for comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project.
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The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances- Manufacturing's 2021 financial statements were issued on April 1, 2022
Accounts receivable $100,000
Accounts payable 48,400
12% notes, payable to bank 628,000
Mortgage note payable 12,30,000
Other information:
a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 12%, payable at maturity.
b. The mortgage note is due on March 1, 2022. Interest at 11% has been paid up to December 31 (assume 11% is a realistic rate). Manufacturing intended at December 31, 2021, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing
paid $385,000 in cash on the principal balance and refinanced the remaining $1,020,000.
c. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,550. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and
apply the overpayments to those future purchases.
d. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $34,800 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue.
Required:
1. Prepare any necessary adjusting Journal entries at December 31, 2021, pertaining to each item of other information (a—d).
2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet.
The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances- Manufacturing's 2021 financial statements were issued on April 1, 2022
Accounts receivable $100,000
Accounts payable 48,400
12% notes, payable to bank 628,000
Mortgage note payable 12,30,000
Other information:
a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 12%, payable at maturity.
b. The mortgage note is due on March 1, 2022. Interest at 11% has been paid up to December 31 (assume 11% is a realistic rate). Manufacturing intended at December 31, 2021, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing
paid $385,000 in cash on the principal balance and refinanced the remaining $1,020,000.
c. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,550. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and
apply the overpayments to those future purchases.
d. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $34,800 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue.
Required:
1. Prepare any necessary adjusting Journal entries at December 31, 2021, pertaining to each item of other information (a—d).
2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet.The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances- Manufacturing's 2021 financial statements were issued on April 1, 2022
Accounts receivable $100,000
Accounts payable 48,400
12% notes, payable to bank 628,000
Mortgage note payable 12,30,000
Other information:
a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 12%, payable at maturity.
b. The mortgage note is due on March 1, 2022. Interest at 11% has been paid up to December 31 (assume 11% is a realistic rate). Manufacturing intended at December 31, 2021, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing
paid $385,000 in cash on the principal balance and refinanced the remaining $1,020,000.
c. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,550. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and
apply the overpayments to those future purchases.
d. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $34,800 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue.
Required:
1. Prepare any necessary adjusting Journal entries at December 31, 2021, pertaining to each item of other information (a—d).
2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet.The unadjusted trial balance of the Manufacturing Equitable at December 31, 2021, the end of its fiscal year, included the following account balances- Manufacturing's 2021 financial statements were issued on April 1, 2022
Accounts receivable $100,000
Accounts payable 48,400
12% notes, payable to bank 628,000
Mortgage note payable 12,30,000
Other information:
a. The bank notes, issued August 1, 2021, are due on July 31, 2022, and pay interest at a rate of 12%, payable at maturity.
b. The mortgage note is due on March 1, 2022. Interest at 11% has been paid up to December 31 (assume 11% is a realistic rate). Manufacturing intended at December 31, 2021, to refinance the note on its due date with a new 10-year mortgage note. In fact, on March 1, Manufacturing
paid $385,000 in cash on the principal balance and refinanced the remaining $1,020,000.
c. Included in the accounts receivable balance at December 31, 2021, were two subsidiary accounts that had been overpaid and had credit balances totaling $18,550. The accounts were of two major customers who were expected to order more merchandise from Manufacturing and
apply the overpayments to those future purchases.
d. On November 1, 2021, Manufacturing rented a portion of its factory to a tenant for $34,800 per year, payable in advance. The payment for the 12 months ended October 31, 2022, was received as required and was credited to rent revenue.
Required:
1. Prepare any necessary adjusting Journal entries at December 31, 2021, pertaining to each item of other information (a—d).
2. Prepare the current and long-term liability sections of the December 31, 2021, balance sheet.
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Which of the following items is not a part of planning?
Select one:
a. Contingency plan
b. Strategic plan
c. Tactical plan
d. Operational plan
e. Objective plan
An objective plan is not a part of planning. Thus, option A is correct.
What is planning?Planning is the process of creating a specific plan that outlines how management will exercise control and what the overall objectives will be. In essence, it lays out the process for achieving the goal step by step.
The objective plan is the goal towards which the manager is taking all the steps in the planning process to achieve it. An objective plan is not a part of planning because it is the and result or the goal with is to be achieved.
The manager usually plan according to the goal or the objective that is being predicted. It does not comes under the planning or the planning category. The goal may be set by the manager or the higher level authority.
Therefore, option A is the correct option.
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A major manufacturing company has initiated a project to determine the best course of action to take in response to the new green laws recently passed by congress. The company has many plants located in the U.S. and overseas, some of which have been in place for decades and will likely not be cost effective to modernize. The CEO has warned that this project will rise or fall based on effective communications. During the plan communications management process, the project manager and his team will rely on potentially five key inputs. Which of the following is a key input of the process? Select one: a. Communications technology b. Lessons learned register c. Project management plan d. Meetings
Answer: Project management plan
Explanation:
A key input of the process is referred to as project management plan. Project management plan is a document that is used by an individual, organization or a governmental body which shows how a particular project will be carried out.
The project management plan shows the the scope of the project, the goals, how much the project will cost, the project's timeline, and the deliverables.
uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $530 per month plus $114 per job plus $16 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in October to be 25 jobs and 234 meals, but the actual activity was 20 jobs and 233 meals. The actual cost for catering supplies in October was $6,600. The catering supplies in the flexible budget for October would be closest to: A. $6,600 B. $5,699 C. $6,538 D. $7,124
Answer:C. $6,538
Explanation:
Cost Formulae = $530 + ($114 X No of Jobs) + ($16 X No. Of meals)
Budgeted Activity for October = 20 jobs , 233 Meals
The Catering Supplies in the flexible Budget would be for October becomes :
= $530 + ($114 X 20) + ($16 X 233)
= $530 + $2280 + $3,728
= $6,538
Consider the 2-period household model that you have seen in class. Suppose the household wants to consume equal amounts in both periods. She earns $100 in the first period and $150 in the second period. The interest rate depends on whether she saves or borrows. The interest rate on saving is 1%, while the interest rate on borrowing is 10%. Required:
What is her optimal consumption?
The optimal consumption of the household based on the interest rate on borrowing given will. 124.87.
How to calculate optimal consumption?From the information given, the following can be gotten:
Y1 = 100
Y2 = 150
Interest rate on savings = 1%
Interest rate on borrowing = 10%
When she saves, the optimal consumption will be:
c1 + c2/1+r = Y1 + Y2/1+r
c1 + c1/1+0.01 = 100 + 150/1+0.01
(1.01 × c1) + c1/1.01 = (1.01 + 150)/1.01
2.01c1 = 251
c1 = 251/2.01
c1 = 124.87
Therefore, the optimal consumption is 124.87.
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Identify 3 channels through which positive and neutral messages travel in the digital era
Answer:
Multimedia based text based and viral ads
Explanation:I HOPE U GET RIGHT:)