Answer:
the difference between architecture and engineering is that the architecture always focuses on the designing of the building where as the engineering always focuses on the technical and structural side of the building.
Faz, Inc., manufactures and sells two products: Product X0 and Product W7. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:
Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours
Product X0 2,000 4 8,000
Product W7 440 3 1,320
Total direct labor-hours 9,320
The direct labor rate is $38.60 per DLH. The direct materials cost per unit is $163.50 for Product X0 and $145 for Product W7. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Expected Activity
Activity Cost Pools Activity Measures Estimated Overhead Cost Product X0 Product W7 Total
Labor-related DLHs $276,078 8,000 1,320 9,320
Production orders orders 19,348 540 740 1,280
Order size MHs 241,614 4,040 4,140 8,180
$537,040
If the company allocates all of its overhead based on direct labor-hours using its traditional costing method, the overhead assigned to each unit of Product XO would be closest to: ________
Answer:
$230.49
Explanation:
To compute the overhead assigned to each unit of product XO, we would first determine the overhead rate, which is shown below;
Overhead rate = Total manufacturing overhead / Total direct labor hours
= $537,040 / 9,320
= $57.62 per hour rate.
Therefore, the overhead allocated amount would be ;
= Overhead rate × Direct labor hours per unit of product X0
= $57.62 × 4
= $230.49
what message is this price tag telling shoppers? (other than it is on sale)
Answer: it says that but you can try to let them give it to you for 7 if they say it's 9 just damage the box a little for a discount
Explanation:
(EDGE2020)
New Hampshire’s legislature has declared a busy roundabout a hazard because of the number of semi accidents that occur there. They’ve hired an independent consultant who specializes in traffic flow to make recommendations for improvement. What tasks will this person perform for the state?
A. working with police to study accidents and designing a traffic-improvement plan for the roundabout
B. working with police to step up enforcement after analyzing traffic flow information
C. analyzing traffic flow information and convincing shipping companies to use a different route
D. analyzing traffic flow and designing a traffic-improvement plan for the roundabout
Answer:
d
Explanation:
This person's duties for the state will include assessing traffic flow and creating a roundabout traffic-improvement plan. As a result, choice (D) is accurate.
What do you know about New Hampshire?The Northeastern United States' state of New Hampshire is located in the New England region. It shares borders with the Canadian provinces of Quebec to the north, Maine and the Gulf of Maine to the east, Massachusetts to the south, Vermont to the west, Maine, and the Gulf of Maine.
New Hampshire is the tenth least populous and fifth least populous of the 50 states in the United States, according to the 2020 census, which had 1,377,529 people as citizens. The state's major city is Manchester, while Concord is the capital. The state of New Hampshire is known for its "Live Free or Die" motto, which refers to its participation in the American Revolutionary War.
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When the labor market is in equilibrium, the
unemployment rate is 0%.
True or false
The following balance sheet for the Hubbard Corporation was prepared by the company:
Buildings $766,000
Land 298,000
Cash 76,000
Accounts receivable (net) 152,000
Inventory 272,000
Machinery 296,000
Patent (net) 116,000
Investment in equity securities 92,000
Total assets $2,068,000
Liabilities and Shareholders' Equity
Accounts payable $231,000
Accumulated depreciation 271,000
Notes payable 532,000
Appreciation of inventory 96,000
Common stock (authorized and issued
116,000 shares of no par stock) 464,000
Retained earnings 474,000
Total liabilities and shareholders' equity $2,068,000
Additional information:
a. The buildings, land, and machinery are all stated at cost except for a parcel of land that the company is holding for future sale. The land originally cost $68,000 but, due to a significant increase in market value, is listed at $156,000. The increase in the land account was credited to
retained earnings.
b. Marketable equity securities consist of stocks of other corporations and are recorded at cost, $38,000 of which will be sold in the coming year. The remainder will be held indefinitely.
c. Notes payable are all long-term. However, a $280,000 note requires an installment payment of $70,000 due in the coming year.
d. Inventories are recorded at current resale value. The original cost of the inventories is $178,000
Required:
Prepare a corrected classified balance sheet for the Hubbard Corporation at December 31, 2018.
Answer:
Please find attached classified balance sheet as requested
Explanation:
Please find attached balance sheet for HUBBARD CORPORATION
Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $42,500 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $50,600. She proceeds with opening the restaurant, and it begins operations on May 1.
Required:
Determine the amount that Nancy can deduct in the current year for investigating these two businesses. In your computation, round the per-month amount to the nearest dollar and use rounded amount in subsequent computations. If required, round your final answers to the nearest dollar.
Answer:
Total deduction for the year = $48,956
Explanation:
You can deduct investigation expenses but only for new business that is in the same industry as your current business. In this case, Henrietta incurred in $42,500 expenses trying to expand her hotel business. Total deduction for the current year = $42,500.
If the investigation expenses are not related to your current business, e.g. restaurants, then you can capitalize the costs and amortize them only if you actually carried out the expansion.
You can deduct up to $5,000 during the first year but this amount decreases by $1 for every dollar above $50,000. Total immediate deduction = $4,400. The remaining $46,200 must be amortized over 180 months. Amortization per month = $46,200 / 180 = $257
Total amortization for year 1 = 8 months x $257 = $2,056
Total deduction for the year = $42,500 + $4,400 + $2,056 = $48,956
According to the law of supply, what happens to the quantity that the suppliers create when the prices increase?
Answer:
the quantity increases
the supply law states that when price increases the quantity increases aswell and vice versa!
On January 1, 2020, the ledger of Sunland Company contains the following liability accounts.
Accounts Payable $53,500
Sales Taxes Payable 7,200
Unearned Service Revenue 16,500
During January, the following selected transactions occurred.
Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
12 Performed services for customers who had made advance payments of $10,500. (Credit Service Revenue.)
14 Paid state revenue department for sales taxes collected in December 2019 ($7,200).
20 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty.
21 Borrowed $27,000 from Girard Bank on a 3-month, 8%, $27,000 note.
25 Sold merchandise for cash totaling $7,884, which includes 8% sales taxes.
Required:
Journalize the January transactions.
Answer:
Jan. 5 Sold merchandise for cash totaling $20,520, which includes 8% sales taxes.
Dr Cash 20,520
Cr Sales revenue 19,000
Cr Sales taxes payable 1,520
12 Performed services for customers who had made advance payments of $10,500. (Credit Service Revenue.)
Dr Unearned revenue 10,500
Cr Service revenue 10,500
14 Paid state revenue department for sales taxes collected in December 2019 ($7,200).
Dr Sales taxes payable 7,200
Cr Cash 7,200
20 Sold 900 units of a new product on credit at $50 per unit, plus 8% sales tax. This new product is subject to a 1-year warranty.
Dr Cash 48,600
Cr Sales revenue 45,000
Cr Sales taxes payable 3,600
*An additional entry for recording warranty liability must be made but we are not given any estimated warranty costs.
21 Borrowed $27,000 from Girard Bank on a 3-month, 8%, $27,000 note.
Dr Cash 27,000
Cr Notes payable 27,000
25 Sold merchandise for cash totaling $7,884, which includes 8% sales taxes.
Dr Cash 7,884
Cr Sales revenue 7,300
Cr Sales taxes payable 584
Consider a consumer who is contemplating a new automobile purchase. She has narrowed her decision down to two brands, Brand X and Brand Y. She has identified gas mileage, price, warranty, and styling to be important attributes to consider in her decision. Her evaluative ratings (e) for each attribute and her beliefs of how each brand performs on a given attribute (b) are given below: Brand X Brand Y Attribute e b b Mileage 2 6 4 Low Price 3 2 2 Warranty -1 1 3 Design 1 10 5 Refer to the Automobile Scenario. The consumer comes across an advertisement that shows Brand X stating that its automobile is being offered as an environment-friendly hybrid model. According to the elaboration likelihood model (ELM), this consumer is most likely to be influenced by the _____. a. unit route to persuasion b. central route to persuasion c. sentiment route to persuasion d. secondary route to persuasion e. peripheral route to persuasion
Answer:
e. peripheral route to persuasion
Explanation:
In order to determine which route to persuasion the car company is using, we must first analyze the customer:
Is the customer motivated to purchase a new car, is he/she thinking and analyzing about buying a new car? ⇒ in this case the answer is yes, so this implies that a central route should be more persuasive. The peripheral route is more effective when convincing passive audiences or consumers.
Is the customer really evaluating the message, or is she just contemplating the ad? ⇒ again in this case, the customer is paying attention to the core message, but will it be able to persuade her?
Is this ad able to persuade the customer and his/her attitude towards the car, is this attribute really important to the customer? ⇒ this is the most important aspect of the message, and to be honest, the customer didn't pay much attention to environmental issues, so she is probably not going to be persuaded by it. She might say yes, brand X is offering a green car, but she will not value that fact. For this particular customer, this ad represents a peripheral route to persuasion. For this particular customer, a central route would imply a message about the car's design, warranty, price, or mileage.
The same ad can work differently for other consumers. E.g. a person that is seeking to buy a new car and really values the fact that the car pollutes less, will pay a lot of attention to this ad and will be probably persuaded by it. For this consumer, this ad would follow a central route, not a peripheral route.
The customer after seeing this advertisement will be influenced by the peripheral route to persuasion according to the elaboration likelihood model(ELM).
What is elaboration likelihood model?The elaboration likelihood model of persuasion is a two-pronged approach that describes change in attitude. ELM was founded by Richard E. Petty and John Cacioppo in 1980.
The model aims to describe different approaches to processing motives, why they are used, and their effects on change in attitude.
This ad represents a peripheral route to persuasion. A central route would imply a message about the car's design, warranty, price, or mileage for this particular customer.
The same ad can work differently for other consumers. For example, a person that is seeking to buy a new car and really values the fact that the car pollutes less will pay a lot of attention to this ad and will be probably persuaded by it.
For this customer, this ad represents a peripheral route to persuasion.
Hence, Option e. will be the correct statement.
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how to write
market analysis for a event planning business
Answer:
In a recent article we discussed the importance of the role that an effective executive summary plays in a business plan. This article will address another critical component of any business plan — the market analysis.
Conducting a market analysis is an essential process for anyone looking to start a successful business.
The market analysis portion of your business plan should communicate your profound knowledge of your particular market, and provide an explanation of why that market is enticing from a financial perspective.
What is a Market Analysis?
A market analysis consists of the combination of quantitative and qualitative assessments of a given market.
A thorough market analysis will convey insights derived from investigating the size of the market in both volume and value, the customer segments that comprise the market, the buying habits that these consumers exhibit, competitors, and any barriers to entry. We’ll go into detail on barriers to entry later on in this article.
The purpose of the market analysis section of a business plan is to prove to stakeholders such as potential investors that you know your market thoroughly, and that there is viable opportunity for a sustainable business venture.
How to Perform a Market Analysis
Step #1: Determine Market Size
The first step in performing a market analysis is to assess the size of the market.
While doing so, your approach will depend on the scale of your potential business. For example, if you’re looking to open a local coffee shop then you should take a local approach to assessing your market.
Contrastly, if your business plan is proposing a nationwide chain of coffee shops, then you need to assess your market at a national scale.
While determining market size, you must look at both volume and value. Volume refers to the number of potential customers, and value refers to the value of the market itself.
Determining market value can be a challenge. One approach is to see if the figure is publicly available, perhaps shared by a government entity. Other approaches include buying a market research report, or simply estimating the figure yourself.
Step #2: Conduct Market Segmentation
If your proposed business will target certain market segments, then you should segment the market to understand it further.
A best practice to start market segmentation is to examine the market from a demographic perspective. This provides surface level insights that can help you determine where next to drill into.
Other segmentation methods that you can use as they pertain to the business’ products and services include geographic segmentation, behavioral segmentation, and psychographic segmentation.
You can even use these various methods of segmentation in tandem!
Step #3: Define Your Target Market
A target market is comprised of the customers that you will focus on within the market.
For example, if you were thinking about opening a coffee shop, you could decide to either be a generalist — selling standard, affordable coffee drinks — or you could choose to focus on high-end, expensive gourmet coffee instead.
Each of these examples would appeal to different market segments, and the approach to connecting with the relevant target market would be different despite having a similar core product (coffee).
Defining your target market is most important when your market has obvious segments that have differing drivers of demand.
Step #4: Define The Market Need
Now we are moving on to the more qualitative assessment of the market by defining the market need.
While defining the market need, you should go into detail on the drivers of demand for your product. Why will people buy your product? What problem is it solving? How is it different from what is already in market? Why should this market purchase from your company specifically?
It helps here to be exhaustive about researching existing competition in the market and their relevant strengths and weaknesses. This will inform your market positioning, which should be thoroughly addressed later on in your business plan.
The market need can often be derived from looking at the efforts of competitors, and drilling down into the areas that they are not focusing on, or areas that you can provide better value than what they offer.
Step #5: Outline Barriers to Entry
In this section of your market analysis, you should answer two questions that investors always ask:
What factors prevent someone from opening a competing shop in proximity to yours and taking 50 percent of your business?
What factors do you think will make you successful while entering this market?
Simply put, barriers to entry protect your business from new competition.
Examples of barriers to entry include:
Brand — the costs required to obtain a certain level of recognition
Location
Regulation
Access to resources — such as suppliers and third-party vendors
Technology
Investment
Access to distribution channels
Conclusion
Megatrends stock will generate earnings of $2 per share this year. The discount rate for the stock is 10%, and the rate of return on reinvested earnings also is 10%. a. Find both the growth rate of dividends and the price of the stock if the company reinvests the following fraction of its earnings in the firm: (i) 0%; (ii) 20%; (iii) 40%. (Do not round intermediate calculations. Enter the growth rates as a whole percent.) b. Redo part (a) now assuming that the rate of return on reinvested earnings is 15%. What is the present value of growth opportunities (PVGO) for each reinvestment rate
Answer:
a. Find both the growth rate of dividends and the price of the stock if the company reinvests the following fraction of its earnings in the firm:
(i) 0% ⇒ g = 0, P₀ = $2/10% = $20
(ii) 20% ⇒ g = 0.2 x 10% = 2%, P₀ = $1.632/8% = $20.40
(iii) 40% ⇒ g = 0.4 x 10% = 4%, P₀ = $1.248/6% = $20.80
b. Redo part (a) now assuming that the rate of return on reinvested earnings is 15%.
(i) 0% ⇒ g = 0, P₀ = $2/10% = $20
(ii) 20% ⇒ g = 0.2 x 15% = 3%, P₀ = $1.648/7% = $23.54
(iii) 40% ⇒ g = 0.4 x 15% = 6%, P₀ = $1.272/4% = $31.80
What is the present value of growth opportunities (PVGO) for each reinvestment rate
ROE = 10%, reinvestment rates:
(i) 0%: PVGO = $20 - $2/10% = $0
(ii) 20%: PVGO = $20.40 - $2/10% = $0.40
(iii) 40%: PVGO = $20.80 - $2/10% = $0.80
ROE = 15%, reinvestment rates:
(i) 0%: PVGO = $20 - $2/10% = $0
(ii) 20%: PVGO = $23.54 - $2/10% = $3.54
(iii) 40%: PVGO = $31.80 - $2/10% = $11.80
Explanation:
sustainable growth rate = g = retention rate x ROE
PVGO = stock price - earnings/Re
Identify each of the following statements about linear programming problems as true or false, and then justify your answer.
a. For minimization problems, if the objective function evaluated at a CPF solution is no larger than its value at every adjacent CPF solution, then that solution is optimal.
b. Only CPF solutions can be optimal, so the number of optimal solutions cannot exceed the number of CPF solutions.
c. If multiple optimal solutions exist, then an optimal CPF solu-tion may have an adjacent CPF solution that also in optimal.
Answer and Explanation:
a. The given statement is true as the corner point at the objective function should be feasible solution which is no longer as compared with the value for every adjacent CPF solution as compared with its optimal
b. The given statement is false as the solution can be an edge
c. The given statement is true as it shows the direct relation between the two things
Which of Graeter’s stakeholders are most affected by the family’s decision to take a long-term view of the business rather than aiming for short-term profit?
Answer:
Employees, owner of the business and investors
Explanation:
Family decisions are biased and they can change business decision over the course of period. In the above scenario, graters family has decided to take a long term view of the business rather than short term profit will greatly affect the employees, owner of the business and investors. Family decisions can affect a stakeholder that is why it is recommended that family and business should remain apart.
Marigold Corporation factors $260,800 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments. (b) Assume that the conditions are met for a transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2020, for Marigold to record the sale of receivables, assuming the recourse obligation has a fair value of $5,000.
Answer:
Date Journal Entry Debit Credit
Aug 15 Cash $245,152
Due from factors $10,432
Loss on sale of receivables $$10,216
Recourse liability $5,000
Account receivable $260,800
Cash received = ($260,800*94%) = $245,152
Add: Due from factor($260,800*6%) = $10,432
Less: recourse obligation= $5,000
Net proceeds= $ 229,720
Loss on sale of Receivables = $260,800 * 2% + 5000 = $10,216
Joshua needed money for some unexpected expenses, so he borrowed $5,355.26 from a friend and agreed to repay the loan in seven equal installments of $1,100 at the end of each year. The agreement is offering an implied interest rate of _________
Joshuaâs friend, Willie, has hired a financial planner for advice on retirement. Considering Willieâs current expenses and expected future lifestyle changes, the financial planner has stated that once Willie crosses a threshold of $1,387,311 in savings, he will have enough money for retirement. Willie has nothing saved for his retirement yet, so he plans to start depositing $25,000 in a retirement fund at a fixed rate of 6.00% at the end of each year. It will take____________for Willie to reach his retirement goal.
Answer:
10%
25.14 years
Explanation:
A financial calculator can be used to solve these problems
PMT = $-1,100
PV = $5,355.26
FV = 0
N = 7
Compute I = 10%
PMT = $-25,000
FV = $1,387,311
I = 6%
PV = 0
Compute N = 25.14 years
Question Workspace Copyrights in Digital Information When she was in college, Kiersten Walburg wrote a case study on Grokster, an online peer-to-peer (P2P) file-sharing network, and knew that it was shut down because its services were illegal. Several years later, Montgomery Records, Inc., which owned the copyrights to a large number of music recordings, discovered that "tereastarr", a user name associated with Walburg's Internet protocol address, had made twenty-four songs available for distribution on another P2P network. Montgomery notified Walburg that she had been identified as engaging in the unauthorized trading of music. She replaced the hard drive on her computer with a new drive that did not contain the songs in dispute. Is Walburg liable for copyright infringement? 1. Making material available on a P2P network or through the cloud is called
Answer:
file sharing.
Explanation:
1. it is is called:
File sharing
file sharing can be defined as the act of distributing digital media to other parties. such digital media can be programs, multitimedia files like music and video, or even electronic books. file sharing could be prohibited in some cases but not always prohibited. files can be shared with peers except when it is stated otherwise. then it is good that you do not share the files to avoid infringement of copyright laws of the owner of the file.
Wildhorse Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, Wildhorses’ ledger showed Cash of $9,200 and Common Stock of $9,200.
May
1 Purchased merchandise on account from Black Wholesale Supply for $9,200, terms 1/10, n/30.
2 Sold merchandise on account for $5,600, terms 2/10, n/30. The cost of the merchandise sold was $4,500.
5 Received credit from Black Wholesale Supply for merchandise returned $200.
9 Received collections in full, less discounts, from customers billed on May 2.
10 Paid Black Wholesale Supply in full, less discount.
11 Purchased supplies for cash $900.
12 Purchased merchandise for cash $4,200.
15 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase.
17 Purchased merchandise from Wilhelm Distributors for $3,600, terms 2/10, n/30.
19 Paid freight on May 17 purchase $250.
24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100.
25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, n/30.
27 Paid Wilhelm Distributors in full, less discount.
29 Made refunds to cash customers for returned merchandise $88. The returned merchandise had cost $100.
31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $894.
Required:
Journalize the transactions using a perpetual inventory system.
The journal entries for the transactions of Wildhorse Hardware Store for May using the perpetual inventory system are as follows:
Journal Entries:May 1 Debit Inventory $9,200
Credit Accounts Payable (Black Wholesale Supply) $9,200
Terms 1/10, n/30.
May 2 Debit Accounts Receivable $5,600
Credit Sales Revenue $5,600
Terms 2/10, n/30.
Debit Cost of goods sold $4,500
Credit Inventory $4,500
May 5 Debit Accounts Payable (Black Wholesale Supply) $200
Credit Inventory $200
May 9 Debit Cash $5,488
Debit Cash Discounts $112
Credit Accounts Receivable $5,600
May 10 Debit Accounts Payable (Black Wholesale Supply) $9,000
Credit Cash $8,910
Credit Cash Discounts $90
May 11 Debit Supplies $900
Credit Cash $900
May 12 Debit Inventory $4,200
Credit Cash $4,200
May 15 Debit Cash $230
Credit Inventory $230
May 17 Debit Inventory $3,600
Credit Accounts Payable (Wilhelm Distributors) $3,600
Terms 2/10, n/30.
May 19 Debit Freight-in $250
Credit Cash $250
May 24 Debit Cash $5,500
Credit Sales Revenue $5,500
Debit Cost of goods sold $4,100
Credit Inventory $4,100
May 25 Debit Inventory $800
Credit Accounts Payable (Clasps Inc.) $800
Terms 3/10, n/30.
May 27 Debit Accounts Payable (Wilhelm Distributors) $3,600
Credit Cash $3,528
Credit Cash Discounts $72
May 29 Debit Sales Allowances and Refunds $88
Credit Cash $88
Debit Inventory $100
Credit Cost of goods sold $100
May 31 Debit Accounts Receivable $1,280
Credit Sales Revenue $1,280
Terms n/30.
Debit Cost of goods sold $894
Credit Inventory $894
What is the perpetual inventory system?The perpetual inventory system is an inventory system that records whenever stock is sold or received, using an automation process that records in real-time.
The implication is that the perpetual inventory system will record changes in inventory at the time the transaction takes place and not at the end of the accounting period, say month-end.
Transaction Analysis:May 1 Inventory $9,200 Accounts Payable (Black Wholesale Supply) $9,200
Terms 1/10, n/30.
May 2 Accounts Receivable $5,600 Sales Revenue $5,600
Terms 2/10, n/30.
Cost of goods sold $4,500 Inventory $4,500
May 5 Accounts Payable (Black Wholesale Supply) $200 Inventory $200
May 9 Cash $5,488 Cash Discounts $112 Accounts Receivable $5,600
May 10 Accounts Payable (Black Wholesale Supply) $9,000 Cash $8,910 Cash Discounts $90
May 11 Supplies $900 Cash $900
May 12 Inventory $4,200 Cash $4,200
May 15 Cash $230 Inventory $230
May 17 Inventory $3,600 Accounts Payable (Wilhelm Distributors) $3,600
Terms 2/10, n/30.
May 19 Freight-in $250 Cash $250
May 24 Cash $5,500 Sales Revenue $5,500
Cost of goods sold $4,100 Inventory $4,100
May 25 Inventory $800 Accounts Payable (Clasps Inc.) $800
Terms 3/10, n/30.
May 27 Accounts Payable (Wilhelm Distributors) $3,600 Cash $3,528 Cash Discounts $72
May 29 Sales Allowances and Refunds $88 Cash $88
Inventory $100 Cost of goods sold $100
May 31 Accounts Receivable $1,280 Sales Revenue $1,280
Terms n/30.
Cost of goods sold $894 Inventory $894
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You are provided with the following information for Lazuris Enterprises, effective as of its April 30, 2022, year-end.
Accounts payable $ 834
Accounts receivable 810
Accumulated depreciation—equipment 670
Cash 1,270
Common stock 16,900
Cost of goods sold 1,060
Depreciation expense 335
Dividends 325
Equipment 2,420
Goodwill 1,800
Income tax expense 165
Income taxes payable 135
Insurance expense 210
Interest expense 400
Inventory 967
Investment in land 14,200
Land 3,100
Mortgage payable (long-term) 3,500
Notes payable (short-term) 61
Prepaid insurance 60
Retained earnings (beginning) 1,600
Salaries and wages expense 700
Salaries and wages payable 222
Sales revenue 5,100
Stock investments (short-term) 1,200
Instructions:a. Prepare an income statement and a retained earnings statement for Lazuris Enterprises for the year ended April 30, 2022.Net income $2,230b. Prepare a classified balance sheet for Lazuris Enterprises as of April 30, 2022.Tot. current assets $4,307Tot. assets $25,157
Answer:
Please see below
Explanation:
Please find attached detailed solution for the above question - Income statement , retained earnings and balance sheet for Lazuris Enterprises.
Predicting which customer will respond to a marketing campaign is part of predictive analytics. Select one: True False
It should be noted that Predicting which customer will respond to a marketing campaign is part of predictive analytics.
What is a marketing campaign?Marketing campaigns serves as strategic activities that promote a business's goal or objective.
It is been used used in promoting a product, a service, or the brand as a whole.
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1. Accounts Receivable. At year-end, the L. Cole Company has completed services of $20,500 for a client, but the client has not yet been billed for those services.
2. Interest Receivable. At year-end, the company has earned, but not yet recorded, $450 of interest earned from its investments in government bonds.
3. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,420 of work.
Required:
a. Determine what the current account balance equals.
b. Determine what the current account balance should equal.
c. Record an adjusting entry to get from a to b. Assume no other adjusting entries are made during the year.
Answer:
a. What the current balance in Accounts Receivable equals is to $0. The Current actual balance in Account receivable should equal the amount of service revenue earned but not received by the company. Hence, the balance should be $20,500
Adjusting Entries Debit Credit
Account receivable $20,500
Earned service revenues $20,500
(Revenue from services rendered to clients but not received
b. What the current balance in Interest Receivable equals to is $0. The current actual balance in Account receivable should equal the amount of Interest revenue earned but not received by the company. Hence, the balance should be $450
Adjusting Entries Debit Credit
Interest receivable $450
Interest revenue $450
c. What the current balance in Accounts Receivable equals to is $0. The current actual balance in Account receivable should equal the amount of service revenue earned but not received by the company. Hence, the balance should be $1,450
Adjusting Entries Debit Credit
Account receivable $1,450
Earned service revenues $1,450
(Revenue from services rendered to clients but not received recorded)
-True-False 18. All types of extinguisher can use in any kinds of fire. - True False
All types of extinguisher can use in any kinds of fire.
FalseAll types of extinguishers cannot be used in any kind of fire. Let's understand this statement with an example...
Example:- Suppose that a fire has taken place due to some electrical issues. This kind of fire cannot be extinguished by water because water is a good conductor of electricity...~Galvanized Products is considering the purchase of a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow 1/4th of the purchase price from a bank at 15% compounded annually. The loan is to be repaid using equal annual payments over a 3-year period. The computer system is expected to last 5 years and has a salvage value of $5,000 at that time. Over the 5-year period, Galvanized Products expects to pay a technician $25,000 per year to maintain the system but will save $55,000 per year through increased efficiencies. Galvanized Products uses a MARR of 18%/year to evaluate investments.
What is the future worth of this investment?
Answer and Explanation:
Please find attached
A job cost sheet of Sandoval Company is given below.
Job Cost Sheet
JOB NO. 469 Quantity 2,500
ITEM White Lion Cages Date Requested 7/2
FOR Todd Company Date Completed 7/31
Date Direct Materials Direct Labor Manufacturing Overhead
7/10 $700
12 900
15 $440 $550
22 380 475
24 1,600
27 1,500
31 540 675
Cost of completed job:
Direct materials:_____
Direct labor :_____
Manufacturing overhead:_____
Total cost:_____
Required:
a. What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job?
b. What is the predetermined manufacturing overhead rate?
c. What are the total cost and the unit cost of the completed job?
Answer:
7/10$700that is the answer
The CPI for this year was reported at 163.65. If inflation was 3.1 percent, what must the CPI have been last year
The consumer price index last year must have been 158.58.
What was the consumer price index last year?
The consumer price index is used to measure inflation. It does this by measuring the changes in the price of a basket of good.
CPI = (cost of basket of goods in current period / cost of basket of goods in base period) x 100
CPI last year = (100 - 3.1) x 163.65 = 158.58
To learn more about, consumer price index, please check: https://brainly.com/question/26382640
Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.
Deduction
Dollar Amount
Federal Income Tax
$420
State Income Tax
$95
Social Security
$89
Medicare
$40
What will be his new monthly net pay? Round your answer to the nearest dollar.
$2821
$2857
$2860
$2891
Answer:
$2891
Explanation:
If chine reduces his federal income deductions from 12% to 11%, the new federal income tax will be as below.
11% of $3500
= 11/100 x 3500
=0.11 x 3500
=$385.
Total deductions after this change will be
=$385 + $95 + $89 + $40
=$609
Net pay
=$3500- $609
=$2,891
Answer:
D
Explanation:
just took test
Bistrol Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 800 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 15,700 75% Conversion costs $ 7,700 20% A total of 8,400 units were started and 7,500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 186,300 Conversion costs $ 329,800 The ending inventory was 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:
Answer:
$21.44
Explanation:
Calculation for the cost per equivalent unit for materials for the month in the first processing department
First step
Units completed and transferred out $7,500
Ending inventory($800+$8,400-$7,500)*70% Ending inventory =1,700*70%
Ending inventory =$1,190
Equivalent units for Materials $8,690
($7,500+$1,190)
Total materials costs $186,300
Second step
Cost per equivalent unit for materials=Total materials costs÷ Equivalent units for Materials
Cost per Equivalent unit for Materials $186,300÷$8,690
Cost per Equivalent unit for Materials=$21.44
Therefore the cost per equivalent unit for materials for the month in the first processing department is closest to $21.44
why you applied for this job and why you should be hired
John Gardner is the city planner in a medium-sized southeastern city. The city is considering a proposal to award an exclusive contract to Clear Vision, Inc., a cable television carrier. Mr. Gardner has discovered that an economic planner hired a year before has generated the functions given below: P = 28 - 0.0008Q MC = 0.0012Q where Q = the number of cable subscribers and P = the price of basic monthly cable service. a. b. c. What price and quantity would be expected if the firm is allowed to operate completely unregulated? Mr. Gardner has asked you to recommend a price and quantity that would be socially efficient. Recommend a price and quantity to Mr. Gardner using economic theory to justify your answer. Compare the economic efficiency implications of (a) and (b) above.
Answer:
Monopoly
P = $20.00
Q = 10,000
Socically Efficient:
P = $16.80
Q = 14,000
The monopoly generates a deadthweight loss to maximize their gain.
In the socially efficient situation, there is no deadthweight loss threfore this makes the economy as a whole better.
Explanation:
Price = 28 - 0.0008Q
Marginal Cost = 0.0012Q
Revenue: P x Q = (28 - 0.0008Q) x Q = 28Q - 0.0008Q²
Marginal Revenue:
R' = R(q) / dq = 28 -0.0016Q
We want to produce and sale until marginal revenue matches marginal cost:
28 -0.0016Q = 0.0012Q
28 = 0.0028Q
Q = 28 / 0.0028 = 10,000
P = 28 - 0.0008 (10,000) =
P = 28 - 8 = 20.00
The social efficiency will be that Price equals Marginal Cost.
28 - 0.008Q = 0.0012Q
28 = 0.0020Q
28 / 0.0020 = Q = 14,000
P = 28 - 0.0008(14,000) = 28 - 11.2 = 16,8
Kelly Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs: Costs: Wages and salaries $ 360,000 Depreciation 200,000 Occupancy 100,000 Total $ 660,000 The distribution of resource consumption across the three activity cost pools is given below: Activity Cost Pools Total Fabricating Order Processing Other Wages and salaries 15% 60% 25% 100% Depreciation 20% 35% 45% 100% Occupancy 25% 50% 25% 100% How much cost, in total, would be allocated in the first-stage allocation to the Order Processing activity cost pool
Answer:
$336,000
Explanation:
Calculation for How much cost that would be allocated in the first-stage allocation to the Order Processing activity cost pool
Total Order Processing activity cost pool
Wages and salaries: 60% × $360,000
Wages and salaries= $216,000
Depreciation: 35% × $200,000
Depreciation=$70,000
Occupancy : 50% × $100,000
Occupancy=$50,000
TOTAL =$336,000
Therefore the amount of cost that would be allocated in the first-stage allocation to the Order Processing activity cost pool will be $336,000
What area of expense is best to target when looking for possible ways to cut back on spending
Answer:
If we are talking about corporate spending, then it's best to cut overhead costs, because direct labor or direct materials are harder to cut since a cut in these areas would cause a reduction in output production.
If we are talking about personal spending, then, it's best to cut sumptuary expenses like eating out, or taking expensive vacations. Utilities, rent, and debt are harder to cut.