Answers
Based on the overall mean, the average range, and the control limit factor, the upper control limit is 55.437.
What is the upper control limit?This can be found by the formula:
= Overall mean + (Mean factor for sample size 7 x Average range)
Solving gives:
= 54.75 + (0.419 x 1.64)
= 55.437
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Related Questions
Answer please
You are teaching a lesson on how to stay informed about your finances and protect yourself from identity theft. What is the BEST piece of advice you would give?
A.Examine your financial accounts once a month for fraudulent activity,
B.Avoid checking your credit report often because it will lower your credit score.
C.Only have your Social Security number visible on personal documents such as checks
D.Use cash for all of your transactions so that no personal information is accessible to others
Answers
Answer:
Option A
Explanation:
The best piece of advice you could possibly give to protect oneself from identify theft is to always "examine your financial accounts once a month for fraudulent activity" or option A. Fraudulent activity as in purchases you made, that you didn't know you made, which pretty much confirms that your identity was stolen speaking how the first thing a identify thief will do once they get someone's personal information is to spend their money. Looking over your financial accounts at least once a month will ensure that no one else is spending your money or has your personal information.
Hope this helps.
Mentor Graphics Corporation, a supplier of electronic design automation systems, just announced its second quarter results. According to the earnings press release, the company reported "revenues of $182.6 million, non-GAAP earnings per share of $0.02, and a GAAP loss per share of $0.22." Elsewhere in the press release the company says that non-GAAP earnings excludes the following items incurred during the quarter: equity-based (noncash) employee compensation; severance and related employee "rebalancing" costs; fees paid to consultants; losses related to the abandonment of excess facility space and a facility fire; interest expense; along with other assorted items. There is no standard definition of non-GAAP earnings. Each firm is permitted to construct its own definition for press release purposes. As a result, the Securities and Exchange Commission requires firms such as Mentor Graphics to provide a reconciliation of GAAP and non-GAAP earnings any time a non-GAAP measure is presented.
Required:
1. Which of the excluded items represent ongoing costs of running the business and which are one-time "special" costs?
2. How might analysts and investors benefit when firms call attention to their non-GAAP earnings. 3. How might analysts and investors be harmed?
Answers
Answer:
1. Which of the excluded items represent ongoing costs of running the business and which are one-time "special" costs?
it depends on the company and the actual transactions, e.g. equity based compensation might be a one time special cost because it occurred only once and is doubtful that it happens again. But if the company regularly rewards its top managers with this type of compensation, then it is an ongoing cost. E.g. Tesla awarded a HHHHUUUUUUGGGGGGGEEEEEEE bonus to Elon Musk (worth hundreds of millions) but it was a one time event. While many companies use equity compensation on a regular basis.
Severance and related employee "rebalancing" costs generally take place when a company fires a lot of people because it is cutting down some division or product line. Hopefully, they should never happen, and if they do, it should be only a one time event.
Fees paid to consultants and interest expenses are ongoing costs that will probably occur in the future.
Losses related to the abandonment of excess facility space and a facility fire should be one time events. It would be really bad for them to keep happening (same as severance and rebalancing costs)
A company decides to diversify a product by creating a new product range. Which stage of the its life cycle is the product most likely in? A company decides to diversify a product by creating a new product range. It is most likely in the stage.
Answers
Answer:
Introduction.
Explanation:
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
Basically, the introduction stage is the fist stage of a product's life cycle, indicating that it is new in the market. Hence, this stage is typically characterized by low (slow) sales and as such the company (producer) has to invest so much in advertisements, marketing and promotional strategies (campaigns) in order to increase customer awareness.
In this scenario, a company decides to diversify a product by creating a new product range. Therefore, the life cycle stage the product is most likely in is introduction.
How can you use change management to gain a competitive advantage?
Answers
Answer:
Organisations which are great at change management are constantly improving their ability to perform change, actively involving people, and integrating change into their cultures. These organisations achieve competitive advantage by performing change management better, faster, and with fewer resources than competitors.
Explanation:
cuz
Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.
a. After a long search, Jon finds a job.
b. Tyrion, a full-time college student, graduates and is immediately employed.
c. After an unsuccessful job search, Arya gives up looking and retires.
d. Daenerys quits her job to become a stay-at-home mom.
e. Sansa has a birthday, becomes an adult, but has no interest in working.
f. Jaime has a birthday, becomes an adult, and starts looking for a job.
g. Cersei dies while enjoying retirement.
h. Jorah dies working long hours at the office.
Answers
Answer:
Explanation:
a)After a long search, Jon finds a job.
There is decrease in unemployment rate ,there is zero effect on labor-force participation rate
Hint: he is now among the labour force, immediately he found the job
b. Tyrion, a full-time college student, graduates and is immediately employed.
✓the unemployment rate decreases ,
labor-force participation rate also increases as result of increase in number of the labor-force participation in which Tyrion is now part of them.
c. After an unsuccessful job search, Arya gives up looking and retires.
d. Daenerys quits her job to become a stay-at-home mom.
e. Sansa has a birthday, becomes an adult, but has no interest in working.
f. Jaime has a birthday, becomes an adult, and starts looking for a job.
g. Cersei dies while enjoying retirement.
h. Jorah dies working long hours at the office.
Please answer
Amira budgeted $400 for her expenses this week. She spent $350. What is TRUE about Amira's budget and spending?
A.Amira owes interest on her $50 variance.
B.Amira should take out a loan.
C.Amira has a deficit of $50 this week.
D.Amira has a surplus of $50 this week
Answers
Answer:
Amira has a surplus of $50 this week.
Source: Trust me bro
For each of the following sentences, choose the option that makes the message more reader oriented.
1. Come to Barclay’s Furniture and see how low we’ve cut prices at our grand opening in Seattle!
a. You’ll save with major discounts at the Barclay Furniture Seattle store’s grand opening.
b. We’ve cut prices just for you at the Barclay Furniture Seattle store’s grand opening.
c. No change necessary.
2. Our affordable prices and great styles will make redecorating your home a breeze.
a. Redecorate your home with the latest styles at an affordable price.
b. We’ll help you redecorate your home with the latest styles and the most affordable prices.
c. No change necessary.
3. We’ll slash an additional 10 percent off living room sets if you shop by Tuesday.
a. No change necessary.
b. If you don’t shop by Tuesday, you’ll miss our additional 10 percent discount on living room sets.
c. Shop by Tuesday and you’ll save an additional 10 percent on all living room sets.
Answers
Answer:
1. Come to Barclay’s Furniture and see how low we’ve cut prices at our grand opening in Seattle!
Option that makes the message more reader oriented
a. You’ll save with major discounts at the Barclay Furniture Seattle store’s grand opening as it is most appropriate and more consumer friendly.
2. Our affordable prices and great styles will make redecorating your home a breeze
Option that makes the message more reader oriented
b. We’ll help you redecorate your home with the latest styles and the most affordable prices as it touches the consumer with the help.
3. We’ll slash an additional 10 percent off living room sets if you shop by Tuesday.
Option that makes the message more reader oriented
c. Shop by Tuesday and you’ll save an additional 10 percent on all living room sets as it is very pleasing.
Christina, who is single, purchased 140 shares of Apple Incorporated stock several years ago for $8,400. During her year-
end tax planning, she decided to sell 70 shares of Apple for $3,850 on December 30. However, two weeks later, Apple
introduced its latest iPhone, and she decided that she should buy the 70 shares (cost of $3.990) of Apple back before
prices skyrocket (Leave no answers blank. Enter zero if applicable.)
. What is Christina's deductible loss on the sale of 70 shares? What is her basis in the 70 new shares?
Answers
Christina's deductible loss on the sale of 70 shares is $0 and her basis in the 70 new shares is $4,340.
Deductible lossa. Her deductible loss will be $0 because no deductible loss.
b. Basis in the new shares
Loss=3,850-(8,400×70/140)
Loss=3,850-(8,400×0.5)
Loss=3,850-4,200
Loss=350
New shares basis =350+ 3,990
New shares basis =350+3,990
New shares basis =$4,340
Inconclusion Christina's deductible loss on the sale of 70 shares is $0 and her basis in the 70 new shares is $4,340.
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Use the drop-down menus to explain how to save a presentation to a CD.
1. Save a backup copy of the original file.
2. Go into the Backstage view using the
✔ File
tab, and select
✔ Export
.
3. Click Package Presentation for CD.
4. Add a
✔ name
for the CD, and select any desired options for modification.
5. If you want to check the file before saving it to a CD, click
✔ Copy to Folder
first.
6. Then, return to the Package for CD dialog box to select Copy to CD.
Answers
Saving a presentation to a CD is done through the following processes:
Going into the Backstage view using the File tab and select ExportAdding a name for the CD, and select any desired options for modification.Checking the file before saving it to a CD, click Copy to Folder first.What is a CD?This is referred to as compact disc which are small plastic discs on which sound, or video can be recorded.
In successfully saving a presentation to a CD, the above steps must be followed.
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The financial information of Z, Inc. is as follows: EBIT/share: $5 EPS: $3 Growth rate: 15% Stock Price per share: $48 The industry averages of price-EBIT ratio, PE ratio and PEG ratio are 10, 15, and 1.2 respectively. What is the implied stock price of Z, Inc. using the PE ratio
Answers
Answer:
$45
Explanation:
What is the implied stock price of Z, Inc. using the PE ratio?
EPS = $3
Industry PE ratio = 15
Price per share as per industry PE averages = 15* $3
Price per share as per industry PE averages = $45
Hence, the implied stock price of Z, Inc. using the PE ratio is $45
A stock has a beta of 1.90 and an expected return of 15 percent. A risk-free asset currently earns 3.6 percent. a. What is the expected return on a portfolio that is equally invested in the two assets? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. If a portfolio of the two assets has a beta of .95, what are the portfolio weights? (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., .1616.) c. If a portfolio of the two assets has an expected return of 7 percent, what is its beta? (Do not round intermediate calculations. Round your answer to 3 decimal places, e.g., 32.161.) d. If a portfolio of the two assets has a beta of 3.80, what are the portfolio weights?
Answers
Answer:
a. E(Rp) = W1 * E(R1) + W2 * E(R2) : W = Weight of risk free asset in portfolio , E(R) = Return of risk free asset
Expected Return of Portfolio = 0.5*3.6 + 0.5*15
Expected Return of Portfolio = 1.8 + 7.5
Expected Return of Portfolio = 9.3%
b. When a portfolio is composed of one risk free asset and one another risky stock
бp = W1 * б1
The S.D. of a stock or portfolio in this case as given by Beta
0.95 = W1 * 1.9
W1 = 0.95/1.9
W1 = 50%
Weight of risk free asset = 1 - 0.5
Weight of risk free asset = 50%
c. E(Rp) = W1 * E(R1) + W2 * E(R2)
7 = W1 * 3.6 + W2 * 15
With Trial and error method: W1 = 0.7, W2 = 0.3
Beta of Portfolio = 0.3 * 1.9
Beta of Portfolio = 0.57
d. Beta of Portfolio = Weight of risky asset * Beta of risky stock
3.8 = W * 1.9
W = 3.8/1.9
W = 2
Weight of risk free asset = 1 - 2
Weight of risk free asset = -1.
The following summary transactions occurred during 2018 for Bluebonnet Bakers: Cash Received from: Customers $ 380,000 Interest on note receivable 6,000 Principal on note receivable 50,000 Sale of investments 30,000 Proceeds from note payable 100,000 Cash Paid for: Purchase of inventory 160,000 Interest on note payable 5,000 Purchase of equipment 85,000 Salaries to employees 90,000 Principal on note payable 25,000 Payment of dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2018 was $17,000.
Required:
Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities.
Answers
Answer:
Statement of cash flows for the year ended 2018
Cash flow from Operating Activities
Cash Receipts from Customers $ 380,000
Cash Paid to Suppliers and Employees ($250,000)
Cash Generated from Operations $130,000
Interest on note payable ($5,000)
Net Cash from Operating Activities $125,000
Cash flow from Investing Activities
Interest on note receivable $ 6,000
Principal on note receivable $ 50,000
Sale of investments $ 30,000
Purchase of equipment ($85,000)
Net Cash from Investing Activities $1,000
Cash flow from Financing Activities
Proceeds from note payable $100,000
Principal on note payable ($25,000)
Dividends Paid ($20,000)
Net Cash from Financing Activities $55,000
Movement in Cash and Cash Equivalents $151,000
Beginning Cash and Cash Equivalents $17,000
Ending Cash and Cash Equivalents $168,000
Explanation:
The Direct Method Include only the Cash receipts from customers and Cash payments to suppliers and employees in the calculation of cash generated from operations under the Cash flow from Operating Activity Section of the Statement.
Calculation of Cash Paid to Suppliers and Employees
Purchase of inventory $160,000
Salaries to employees $90,000
Cash Paid to Suppliers and Employees $250,000
During the off-season when crops cannot be grown, farmers will do which of the following?
A: Continue working and preparing equipment
B: Take a break, as they are unable to vacation during summer
C: Take on another job or profession until spring.
Answers
Answer:
A
Explanation:
because none seem to be right
1. what are three characteristics of credit cards
2. What are three fees that banks can charge for their services?
Answers
Answer:
Alternative to cash. Credit limit, Aids payment in domestic and foreign currency. and Account maintenance and minimum balance. Many banks charge fees for maintaining checking or savings accounts, ATM, Overdraft
Explanation:
If a company spends $14.4 million to install refurbished footwear-making equipment with capacity to produce 1 million pairs of athletic footwear at its North American production facility, then its annual depreciation costs at that facility will rise by
Answers
The annual depreciation costs at that facility will rise by 10% or $1,440,000.
Annual depreciation costsLife of the equipment = 10 Years
Salvage value = 0
Annual Depreciation= (Cost of equipment - Estimated salvage value) / Estimated useful life
Annual Depreciation= ($14.4 million- 0) / 10
Annual Depreciation= $1,440,000
or
Annual Depreciation= $1,440,000/$14,400,000 ×100
Annual Depreciation= 10%
Inconclusion the annual depreciation costs at that facility will rise by 10% or $1,440,000.
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discuss the negative impact of piracy on business
Answers
Explore the impact of the traditional approaches to Labour Relations and evaluate how they impact on the interactions and nature of the relationship of the parties to the labour relationship. Include the role of the state in your answer.
Answers
I hope this helps you
(:
Why was Sony willing to raise the price of its Playstation 3 over Playstation 2, causing a lower number of sales
Answers
The reason why Sony raised their prices on the Playstation 3 was because c. Although consoles were significantly more expensive than traditional videogame consoles, Sony was willing to concede some ground in the PlayStation battle to win the Blu-ray war.
Why was this the case?At the time, Blu-Rays were still gaining popularity and Sony wanted to tap into that popularity to become a market leader.
The Playstation 3 was Blu-ray equipped so Sony raised prices on it because they knew that they would make back profits when more people started buying blu-ray.
In conclusion, option C is correct.
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oss Music Inc. reported the following selected information at March 31. 2022 Total current assets $262,787 Total assets 439,832 Total current liabilities 293,625 Total liabilities 376,002 Net cash provided by operating activities 62,300 Calculate the current ratio, the debt to assets ratio, and free cash flow for March 31, 2022. The company paid dividends of $12,000 and spent $24,787 on capital expenditures. (Round current ratio and debt to assets ratio to 2 decimal places, e.g. 15.25. If answer is negative enter it with a negative sign preceding the number e.g. -15,000 or in parentheses e.g. (15,000).) Current ratio enter a current ratio rounded to 2 decimal places :1 Debt to assets enter debt to assets ratio in percentages rounded to 2 decimal places % Free cash flow $enter the free cash flow in dollars
Answers
Answer:
Please see below
Explanation:
a. Current ratio
= Total current assets / Total current liabilities
= $262,787 / $293,625
= 0.89
b. Debt to assets ratio
= Total current liabilities / Total assets
= $293,625 / $439,832
= 0.67
c. Free cash flow
= Net cash provided by operating activities - Dividends - Capital expenditure
= $62,300 - $12,000 - $24,787
= $15,685
Jack and Jill own a successful engineering company, which sponsors a 401(k) plan that requires standard eligibility. Sam, Tom and Pat are the only other employees, who are between the ages of 25 and 29 and have been with the company for a couple of years. Jack and Jill each have salaries of $200,000, while their employees have salaries ranging between $28,000 and $30,000. Jack and Jill both defer $10,000 each. Sam, who is Jack and Jill's son, earns $30,000 and defers $6,000 into the 401(k) plan. Tom, who makes $28,000, defers $2,800, while Pat does not defer anything into the 401(k) plan. Which of the following statements is correct? a. The ADP for the NHC employees is 6.67% b. If the plan failed the ADP test, then the issue could be solved by providing a qualified matching contribution to all five employees. c. Jack and jill are the only highly compensated employees. d. If the company hired a new employee, it would not increase the amount that Jack and Jill can defer during the first year of the employee's employment?
Answers
Answer: Jack and Jill are the only highly compensated employees.
If the company hired a new employee, it would not increase the amount that Jack and Jill can defer during the first year of the employee’s employment
Explanation:
From the data presented above it is very obvious that jack and jull are the only employees who are highely compnested with each earning almost 8 times what other employees earning.
even if the company employed new employees, this would still not affect the amount Jack and Jill would be able to differ.
Trapp Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,000. During the period, 9,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $2.00 for material and $3.00 for conversion costs. What was the cost of units transferred out during the month?
A. $45,000
B. $45,400
C. $35,400
D. $39,600
Answers
Answer: cost of units transferred out during the month=A. $45,000
Explanation:
Material costs =Number of units completed and transferred out x Cost per equivalent unit for material
= 9000 units x $2.00 = $18,000
Conversion cost = Number of units completed and transferred out x Cost per equivalent unit for conversion costs
= 9000 units x $3.00 = $27,000
Costs of u nits transferred out during the month = Conversion costs +Material costs
= $18,000 + $27,000
$45,000
Adcock Company issued $600,000, 9%, 20-year bonds on January 1, 2020, at 103. Interest is payable annually on January 1. Adcock uses straight-line amortization for bond premium or discount. Prepare entries to record issuance of bonds, payment of interest, amortization of premium, and redemption at maturity. Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The accrual of interest and the premium amortization on December 31, 2020. c. The payment of interest on January 1, 2021. d. The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
Answers
Answer: Please find answers in explanation column.
Explanation:
a. Journal to record The issuance of the bond
Date Account Titles Debit Credit
Jan. 1 Cash $618,000
9% Bonds payable $600,000
Premium on Bonds payable $18,000
Calculation
Cash = 600,000 x 103% =$618,000
b. The accrual of interest and the premium amortization on December 31, 2020
Date Account Titles Debit Credit
Dec. 31 Interest expense $53,100
Premium on Bonds payable $900
Interest payable $54,000
Calculation
Interest = 600,000 x 9% = $54,000
Premium on bonds = 18,000 /20 = $900
Interest expense=$54,000- $900=$53,100
c.Journal to record The payment of interest on January 1, 2021. Date Account Titles Debit Credit
Jan. 1 Interest payable 54000
Cash 54000
d) Journal to record The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
Date Account Titles and Explanation Debit Credit
Jan. 1, 2 Bonds payable $600,000
Cash $600,000
Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2018, manufacturing overhead cost estimates total $600,000 for an annual production capacity of 12 million pages. For 2018 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis: Cost pool Manufacturing overhead costs Activity level Design changes $120,000 500 design changes Setups 380,000 4,000 setups Inspections 100,000 9,000 inspections Total manufacturing overhead costs $600,000 During 2018, two customers, Money Managers and Hospital Systems, are expected to use the following printing services: Activity Money Managers Hospital Systems Pages 70,000 86,000 Design changes 12 0 Setups 17 7 Inspections 26 34 Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2018?
Answers
Answer:
$4,783.88
Explanation:
As for the provided information, the problem is based on activity based costing.
There are 3 activities:
i) Design Changes = $120,000 for 500 changes
Cost per change = [tex]\frac{120,000}{500}[/tex] = $240 for each change
ii) Setups = $380,000 for 4,000 setups
Cost per setup = [tex]\frac{380,000}{4,000}[/tex] = $95 for each setup
iii) Inspections = $100,000 for 9,000 inspections
Cost per inspection = [tex]\frac{100,000}{9,000}[/tex] = $11.11
In case of Money Managers, there is printing of 70,000 pages
Design charges = 12 design changes [tex]\times[/tex] $240 = $2,880
Setup charges = 17 setups [tex]\times[/tex] $95 = $1,615
Inspection charges = 26 inspections [tex]\times[/tex] $11.11 = $288.88
Total overhead cost for Money Managers = $2,880 + $1,615 + $288.88 = $4,783.88
The manufacturing overhead cost estimate for Money Managers during 2018 is $4,783.88.
Overhead CostTo calculate overhead cost for Money Managers, we need to find the Design, Inspection, and Setup charges.
We are provided with the following information:
Total Design Changes Cost $120,000 for 500 changes
Total Setups cost $380,000 for 4,000 setups
Total Inspections Cost $100,000 for 9,000 inspections
By this information we can get the charges per design, charges per setup, and charges per Inspection.
On dividing total cost with the units we will get following results
charges per design = $240
charges per setup = $95
charges per Inspection = $11.11
The Money Managers using 70,000 pages, in which design changes are 12, 17 setups, and 26 inspections.
Hence, Design charges = $2880, Setup charges = $1615, Inspection charges = $288.88.
And the Total Overhead Cost will be = $2,880 + $1,615 + $288.88 = $4,783.88
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Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment. Willie's compensation contract states that if the company generates operating income of at least $200,000, he will get a salary bonus early next year. Required: 1. Record the adjustment for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2. After the adjustment is recorded in Requirement 1, what is the revised amount of operating income? Will Willie get his salary bonus? 3. Willie instructs the accountant to record the adjustment for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? Explain. 4. By how much would total assets and operating income be misstated using the 7% amount?
Answers
Answer:
Explanation:
The first part of the question is missing, so I looked for a similar question to fill in the blanks.
Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment.
Accounts receivable $858,000
Estimated percentage uncollectible 10%
Allowance for uncollectible accounts $20,000 (credit)
Operating income $249,000
1. Record the adjustment for uncollectible accounts using the accountant's estimate of 10% of accounts receivable.
Dr Bad debt expense 65,800
Cr Allowance for uncollectible accounts 65,800
($858,000 x 10%) - $20,000 = $65,800
2. After the adjustment is recorded in Requirement 1, what is the revised amount of operating income?
$183,200
3. Willie instructs the accountant to record the adjustment for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? Explain.
bad debt expense = ($858,000 x 7%) - $20,000 = $40,060
so adjusted net income = $249,000 - $40,060 = $208,940
Willie will get his bonus.
By how much would total assets and operating income be misstated using the 7% amount?
$65,800 - $40,060 = $25,740
question was incomplete. Here is the rest of it.
Account receivable $,1,100,000
Estimated percentage uncollectible 9%
operating income $260,000
The first part of the question is missing, so I hunted for the same question to fill within the blanks.
When Willie Cheetum is the CEO of Happy Foods and a distributor of products to grocery chains throughout the Midwest. Also, At the tip of the year, the company's accounting manager provides Willie with the subsequent information, before any adjustment.
Adjustment EntryAccounts receivable $[tex]858,000[/tex]
Estimated percentage uncollectible 10%
Allowance for uncollectible accounts $[tex]20,000[/tex] (credit)
Operating income $[tex]249,000[/tex]
1. Dr debt expense [tex]65,800[/tex]
Cr Allowance for uncollectible accounts 65,800
($858,000 x 10%) - $20,000 = $[tex]65,800[/tex]
2. $[tex]183,200[/tex]
3.bad debt expense = ($858,000 x 7%) - $20,000 = $[tex]40,060[/tex]
so adjusted net = $249,000 - $40,060 = $208,940Willie will get his bonus.
Therefore, $65,800 - $40,060 = $[tex]25,740[/tex]
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Find alternatives or options for offshore drilling in the Arctic?
Answers
Support Investment into Renewables. ...
Support Energy Efficiency Measures. ...
Support Clean Technologies Research.
I HOPE THIS IS OKAY SORRY IF ANYTHING IS WRONG I TRIED
If Suzie writes a check for a new car, she is using money as a
Answers
Answer:capital
Explanation:
In business if you use your money from it, it's your capital equity your using
TRUE OR FALSE ACCOUNTING
1. When using the LIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.
2. Specific identification should be used when building custom race cars.
3. The amounts debited to the inventory account depend on the inventory costing method used.
4. Companies use the LIFO inventory method to reduce income taxes.
5. During periods of increasing costs, the use of LIFO, rather than FIFO, will result in a greater amount of COGS being reported.
6. GAAP requires companies with receivables to use the allowance method.
7. When the allowance method for bad debts is used, net income is not reduced when a specific customer’s receivable is written off.
8. Having the oil changed in a company truck should be capitalized.
9. Replacing an engine in a plane would be a capital expenditure.
10. A tangible asset has a physical existence.
Answers
2. True
3. False
4. True
5. True
6. True
7. True
8. False
9. True
10. True
Answer:
1. True
2. True
3. False
4. True
5. True
6. True
7. True
8. False
9. True
10. True
Explanation:
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The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freight terms by selecting all of the correct statements below.
a. Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.
b. When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.
c. Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.
d. Terms FOB destination means that the seller is responsible for shipping costs.
d. When the shipping costs are the responsibility of the seller, then the Merchandise Inventory account is debited. Terms FOB shipping point means the seller of the goods is responsible for freight charges.
Answers
Answer:
a)Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.
b)When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.
c)Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.
d)Terms FOB destination means that the seller is responsible for shipping costs.
Explanation:
Terms used in shipping can be regarded as INCOTERMS, and they are terms used in International Commercial activities. Some of the freight terms used are Freight collect, Freight prepaid and so on.
From the question, we were informed about The buyer and seller of merchandise agreement on who is responsible for paying freight terms. From the understanding of freight terms, we can deduce that;
✓ FOB shipping point known as Free On Board is terms used when ownership is attributed to the buyer i.e buyer stand to be responsible for anything that occur to the goods once the good/product is shipped from the seller. Inother hand, FOB destination can be explained as attributing the cost of shipping to the seller.
✓Merchandise Inventory account must be debited as far as freight charges is concerned, when the buyer is responsible for shipping cost.
✓ as far as the goods are shipped FOB destination, the revenue for the sale only get to record after confirmation of goods at the destination.
✓
Fabricators, Inc. wants to increase capacity by adding a new machine. The fixed costs for machine A are $50,000, and its variable cost is $15 per unit. The revenue is $25 per unit. What is the break-even point for machine A
Answers
The break-even point for Machine A given the fixed costs and variable costs is 5000.
What is the break-even point?The break-even point is the point at which the number of units produced and sold at which net income is zero. It is the ratio of fixed cost to the contribution margin.
Breakeven quantity = fixed cost / price – variable cost per unit
$50,000 / ($25 - $15)
$50,000 / $10 = 5000
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Suppose that the nearby campers impose a cost of $500 on you and your roommate. If they had to move to a campsite where they could make as much noise as they wished, they would incur a cost of $200. Think of this as the cost of having to physically pack up their stuff and hike to another site. If they stayed and had to be quiet and not disturb you, they would incur a cost of $300. The park rules specify that whoever arrived first has a right to an undisturbed camping spot. Which of the following outcomes would be consistent with the Coase theorem?
a. You would pay them $250 to move.
b. They would pay you $180 to stay where they are.
c. They would move, as the cost to keep quiet would be more than the cost to move.
d. They would pay you $600 to stay where they are.
Answers
Answer:
C: They would move, as the cost to keep quiet would be more than the cost to move.
Explanation:
Because you hold the property rights, you have the right to an undisturbed campsite. Therefore, there are three possibilities: they can move; they can stay but have to remain quiet; or they can stay, make as much noise as they wish, but have to compensate you for the costs they impose on you. We can eliminate the last solution easily, as paying you $180 would not be enough to compensate you for the $500 cost they would impose on you, and $600 would be more than it would cost them to move or stay and be quiet. Therefore, they either have to move, or they have to stay and be quiet. If they move, they will incur a cost of $200. If they stay and be quiet, they will incur a cost of $300. Therefore, they will move to a different campsite, and you will get your peace and quiet back.
C: They would proceed, as the cost to keep quiet would be more additional than the cost to proceed.
What are the Property Rights?
You can maintain the property rights, you have the right to undisturbed grounds.
Thus, there are three possibilities: they can move; they can stay but have to stay quiet; or they can remain, make as much bluster as they wish, but have to compensate you for the costs then impose on you.
We can eradicate the last solution easily, as paying you $180 would not be enough to compensate you for the $500 cost they would charge you, and $600 would be better than it would cost them to transfer or stay and be quiet.
Thus, they either have to move, or they have to stay and be silent. When they move, they will incur a cost of $200.
If they remain and also be quiet, they will incur a cost of $300.
Hence, they will move to a further campsite, and also you will get your relaxation and also quiet back.
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