Answer and Explanation:
a. The preparation of the operating activities section is presented below;
Cash flows from operating activities:
Net income $93,700.00
Adjustments made
Depreciation $31,200.00
Increase in accounts receivable $(9,000.00) ($65,000 - $56,000)
Decrease in inventories $2,800.00 ($47,200 - $50,000)
Decrease in prepaid expenses $4,750.00 ($3,250 - $8,000)
Increase in accounts payable $6,200.00 ($23,400 - $17,200)
Decrease in wages payable $(1,100.00) ($5,300 - $6,400)
Net cash flow from operating activities $128,550.00
b. The cash flow from operating activities is differs from the net income as it does no use the accrual basis just like revenues are recorded when they are earned on the income statement
If the company repaid the loan in a lump sum amount after 2 years, what was the amount of the payment
Answer:
The correct answer is "$2.18 million".
Explanation:
The given problem seems to be incomplete. The attachment of the complete question is attached below.
Given that,
Principle,
= 1.8 million
Interest rate,
= 10%
Number of years,
= 2 years
Now,
The factor will be:
= [tex](1+0.10)^2[/tex]
= [tex](1.1)^2[/tex]
= [tex]1.21[/tex]
hence,
The amount of payment will be:
= [tex]Principle\times factor[/tex]
= [tex]1.8\times 1.21[/tex]
= [tex]2.18 \ million[/tex]
Rules of Debit and Credit The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset Credit Liability Credit Stockholders' equity: Common Stock Credit Retained Earnings Credit Dividends Debit Credit Income statement accounts: Revenue
The table represents the normal debit balance of the following accounts also the increment or decrement related to these accounts is as follows:
The following information should be considered:
The asset, dividend & expenses contains the normal debit balance. And, the liability & equity should contain the normal credit balance.Particulars Increase decrease normal balance
Asset debit credit debit
liability credit debit credit
common stock credit debit credit
retained earnings credit debit credit
dividend debit credit debit
revenue credit debit credit
expense debit credit debit
In this way, the above table should be presented.
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46. To find the net worth of a company, liabilities are subtracted from assets.
True
False
The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead rate is based on labor cost in Dept. A and on machine-hours in Dept. B. At the beginning of the year, the Corporation made the following estimates: Dept. A Dept. B Direct labor cost $ 60,000 $ 40,000 Manufacturing overhead $ 90,000 $ 45,000 Direct labor-hours 6,000 9,000 Machine-hours 2,000 15,000 What predetermined overhead rates would be used in Dept. A and Dept. B, respectively? Question 8 options: A) 67% and $5.00 B) 150% and $3.00 C) 67% and $3.00 D) 150% and $5.00 7 of 8 questions saved
Answer:
B. 150% and $3
Explanation:
Department A
= Manufacturing overhead × 100 / Direct labor cost
= $90,000 × 100 / $60,000
= 150%
Department B
= Manufacturing overhead / Machine hour
= $45,000 / 15,000
= $3 per machine hour
Hence, the predetermined overhead rate used in Department A = 150% , Department B = $3
Copper alloy products shipped to manufacturers are supplied in the __________ condition when maximum strength is required.
Answer: Fully Annealed condition.
Explanation:
Annealing is a heating process in which physical and sometimes chemical properties of material are altered. This process increases the ductility and reduces hardness of material, resulting in increase of the material strength.
In ____ price discrimination, the monopolist charges each consumer the highest price that purchaser is willing to pay for each unit purchased
Answer:
Perfect price discrimination
Explanation:
Perfect price discrimination or first degree discrimination is defined as one in which the maximum price possible is charged for each unit of product sold to the customer.
This is aimed at capturing all consumer surplus for the monopoly.
This can occur for example in cases where the zip code of clients is located in an area where wealthy people reside.
The monopolist can charge the highest possible price based on the location.
Lesco's is evaluating a project that has a different level of risk than the overall firm. This project should be evaluated: Group of answer choices
Answer:
3. using a beta commensurate with the project's risks.
Explanation:
In the case when the project is evaluated so there is the different type of the risk instead of the total firm so here the project should be evaluated via beta commensurate alonhg with the risk of the project. As each and very project has the different level of risk also there is a different between the beta as if we compared to the beta of the market, beta of the firm etc
Hence, the above represent the answer
Private property Multiple Choice does not apply to patents and copyrights. encourages investment since people know what they own can't just be taken away from them. does everything indicated in the other choices. discourages exchange since people must get government approval before selling their property.
Answer:
encourages investment since people know what they own can't just be taken away from them.
Explanation:
Private property can be described as property that is owned by an individual or group of individuals rather than by the government.
Examples of private property
real estate objects - jewellery, cars, clothespatents copyrightAdvantages of private property
it gives man the incentive to work and encourages investment so as to amass properties
The process for converting present values into future values is called________________.
Answer:
Compounding.
Explanation:
Compounding is typically an accounting process used for the conversion of present values of an asset, investment or money into future values.
Generally, a compound interest is calculated based on the interest rate on a loan, principal and the accumulated interest gained from previous periods. This interests is compounded for a certain number of times such as daily, weekly, quarterly or annually.
Mathematically, to find the future value from the present value of an asset or investment, we would use the compound interest formula;
[tex] A = P(1 + \frac{r}{n})^{nt}[/tex]
Where;
A is the future value. P is the principal or starting amount. r is annual interest rate. n is the number of times the interest is compounded in a year. t is the number of years for the compound interest.The discount rate is the interest rate banks charge their best customers. the interest rate banks charge each other for overnight loans. the interest rate the U.S. Treasury pays on Treasury Bills. the interest rate the Fed charges to banks for loans from the Fed.
On June 25, Ritts Roofing extended an offer of $250,000 for land that had been priced for sale at $300,000. On July 9, Ritts accepted the seller’s counteroffer of $275,000. On October 1, the land was assessed at a value of $280,000 for property tax purposes. On December 22, Ritts was offered $305,000 for the land by a national retail chain. At what value should the land be recorded in Ritts Roofing's records? $ fill in the blank 1
Answer:
$275,000
Explanation:
The computation of the value that should the land be recorded is shown below:
= Value at which rits accepted the counteroffer of the seller
= $275,000
Hence, the alue that should the land be recorded is $275,000
Basically it records the cost value as per the cost concept
The same should be considered
Describe the key stages in integrating total quality management into the strategy of an international petrochemical company
Answer:
Total quality management (TQM) describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.Explanation:
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Which of the following costs is not a component of manufacturing overhead of a bicycle manufacturer? Group of answer choices Indirect materials. Factory utilities. Bicycle wheels. Indirect labor. Property taxes on the manufacturing plant. g
Answer:
Bicycle wheels
Explanation:
The following cost should be classified as the manufacturing overhead
1. Indirect materials
2. Indirect labor
3. Factory utilities
4. Property taxes
but the bicycle wheels should not be classified as the manufacturing overhead as it the direct material that directly related to the product
Therefore the bicycle wheel should be relevant
Crossfade Corp. has a bond with a par value of $2,000 that sells for $1,956.84. The bond has a coupon rate of 6.84 percent and matures in 24 years. If the bond makes semiannual coupon payments, what is the YTM of the bond
Answer:
Semestral rate= 3.51%
Annual rate= 7.02%
Explanation:
Giving the following information:
Par value= $2,000
Present value= $1,956.84
Coupon= (0.0684/2)*2,000= $68.4
Number of periods= 24*2= 48 semesters
To calculate the YTM, we need to use a financial calculator:
Function= CMPD
n= 48
I%= SOLVE = 3.51%
PV= 1,956.84
PMT= -68.4
FV= -2,000
Semestral rate= 3.51%
Annual rate= 3.51*2= 7.02%
Huprey Co. is the defendant in the following legal claims. For each of the following claims, indicate whether Huprey should (a) record a liability, (b) disclose in notes, or (c) have no disclosure.
Answer:
Record a liability.Disclose in notes.Have no disclosure.Explanation:
A contingent liability should only be recorded if the likelihood of it happening is known and the value can reasonably be estimated.
In the first scenario, it is likely that Huprey will lose so the likelihood is known. The value can also be reasonably estimated to be $1,070,000 so this should be recorded as a liability.
In the second scenario, the likelihood is known but the value cannot be estimated. In such a case, simply disclose this possibility in the notes of the financial statement.
For the third scenario, the possibility of the liability being incurred is remote so there is no need to either record or disclose the liability.
Suppose two factors are identified for the U.S. economy: the growth rate of industrial production, IP, and the inflation rate, IR. IP is expected to be 4% and IR 6%. A stock with a beta of 1 on IP and 0.4 on IR currently is expected to provide a rate of return of 14%. If industrial production actually grows by 5%, while the inflation rate turns out to be 7%, what is your best guess for the rate of return on the stock? (Round your answer to 1 decimal place.)
Answer:
15.4%
Explanation:
Calculation to determine your best guess for the rate of return on the stock
The revised estimate on the rate of return on
the stock would be:
Before
14% = α +[4%*1] + [6%*0.4]
α = 14% - 6.4%
α = 7.6%
With the changes:
7.6% + [5%*1] + [7%*0.4]
= 7.6% + 5% + 2.8%
= 15.4%
Therefore your best guess for the rate of return on the stock will be 15.4%
Why has Zara been successful? What are its value and cost drivers? How does it protect them? How well does it grow and innovate over time? In what activities? Why?
Answer:
1. Zara's success is founded largely on its brand positioning.
From the onset, Zara defined its brand value to be about putting the customers first. Some sources state that they are obsessed with their customers.
Another key strenght is that they have a broad spectrum of customers. They have products for all age groups.
In addition to the above, Zara is known for it's speed and agility when responding to current trends
2. Values and Cost Drivers:
Its core values revolve around four simple factors:
beautyclarity functionality, and sustainabilityHer cost drivers include but are not limited to the following:
Zara invests in its ability to create a vast number of designs. It focuses on creating more styles than more products per styleZara also invests on consumer insights. It has a strong ability to identify, and respond to demand and trends in the short possible timeZara has also invested in technology systems that allow information to travel all across its entire chain very quicklyAlso, as part of its brand communications strategy, it invests more into creating more stores than it does on sales and advertisements.3. Zara protects its value by placing priority on people
4. Innovation: whilst Zara's core business has flourished, it was a bit of a latecomer to th mobile commerce business. In order for Zara to keep growing, it must review its pricing strategy and place more premium on quality. This is because many competitors are beginning to cut prices with the view of taking up some of Zara's shares and possibly overtaking them in the market.
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Sandra is purchasing a home with a first mortgage loan for $548,250, which is the conforming loan limit for the area where she lives at the time that she secures approval. Her interest rate is not a prime rate, and in order to determine if it triggers the threshold for higher-priced mortgage loans, her creditor must determine if the APR for the loan exceeds the average prime offer rate by:
Question Completion with Options:
2.5 percentage points
1.5 percentage points
3.5 percentage points
6.5 percentage points
Answer:
Sandra's creditor must determine if the APR for the loan exceeds the average prime offer rate by:
1.5 percentage points
Explanation:
The first mortgage loan principal should not exceed the conforming loan limit for the area where Sandra lives at the time that she secures the loan approval. It behooves on Sandra’s creditor to determine if the annual percentage rate (APR) for the mortgage loan exceeds the average prime offer rate (or the sample rate that is a representative of the APRs charged by creditors for mortgage loans that have low-risk pricing characteristics) by 1.5 percentage points.
Outsourcing: Question 19 options: Transfers traditional internal activities to outside vendors. Utilizes the efficiency which comes with generalization. Reduces the chances that the outsourcing firm can focus on its key success factors. None of the above are true of outsourcing. All of the above are true of outsourcing.
Answer:
Transfers traditional internal activities to outside vendors.
Utilizes the efficiency which comes with generalization
Explanation:
Outsourcing can be regarded as a business practice which involves hiring a party from outside of the company so that the party can perform particular services as well as creation of goods which traditionally are been performed in-house by the employees and staff of the own company.Outsourcing helps in cost-cutting measure
It should be noted that Outsourcing ;
✓Transfers traditional internal activities to outside vendors.
✓Utilizes the efficiency which comes with generalization.
List six identifiable periods after World War II that are labor productivity grew
Answer: The major causes of World War II were numerous. They include the impact of the Treaty of Versailles following WWI, the worldwide economic depression, failure of appeasement, the rise of militarism in Germany and Japan, and the failure of the League of Nations.
Explanation:
Sales revenue received in cash is entered by:________ a. debiting Cash and crediting Sales Revenue. b. debiting Cash and crediting Accounts Payable. c. debiting Sales Revenue and crediting Cash. d. debiting Accounts Payable and crediting Cash.
Answer:
a. debiting Cash and crediting Sales Revenue.
Explanation:
Double entry system of accounting requires posting of two legs for every transaction. That is the debit and credit legs.
Asset and expense accounts increase by debitting their balance while revenue accounts increase through credit.
When sales revenue is received as cash there is an increase in cash (an asset) and an increase in sales revenue too (a revenue account).
So we will debit cash to indicate an increase and credit sales revenue to indicate an increase in revenue
Your non-technical manager is delighted with the idea of referring to common vulnerabilities by their nicknames, such as "Heartbleed" instead of CVE-2014-0160 or "Shellshock" instead of CVE-2014-6271, and insists that no one can possibly remember those long CVE names. Present reasons both for and against this conclusion. Which side of the issue do you agree with, explain your opinion and reasoning. This should be written as a recommendation email to your manager with a list of backup sources at the bottom. When you list these sources, include more information than only a URL.
In its most recent annual report, Appalachian Beverages reported current assets of $39,900 and a current ratio of 1.90. Assume that the following transactions were completed: (1) purchased merchandise for $5,100 on account and (2) purchased a delivery truck for $10,000, paying $2,000 cash and signing a two-year promissory note for the balance.
Required:
Compute the updated current ratio.
Answer:
Appalachian Beverages
The Updated current ratio is:
= 1.65
Explanation:
a) Data and Calculations:
Current assets = $39,900
Current ratio = 1.90
Current liabilities = $21,000 ($39,900/1.90)
Current Assets:
Beginning balance = $39,900
Inventory $5,100
Cash ($2,000)
Ending balance = $43,000
Current Liabilities:
Beginning balance = $21,000
Accounts Payable $5,100
Ending balance = $26,100
Analysis of Transactions:
1. Inventory $5,100 Accounts Payable $5,100
2. Delivery Truck $10,000 Cash $2,000 Two-year Note Payable $8,000
Updated current ratio = Current assets/Current liabilities
= $43,000/$26,100
= 1.65
Carly Company plans to depreciate a new building using the double declining-balance depreciation method. The building cost is $960,000. The estimated residual value of the building is $66,000 and it has an expected useful life of 25 years. Assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year
Answer:
Straight line method rate = 1/ Number of years * 100 = 1/25*100 = 4%
Double declining balance depreciation = 2*Straight line method rate*Book value
First Year depreciation = 8%*$960,000
First Year depreciation = $76,800
Second year depreciation = 8% * (Book Value as on 1st year - First Year depreciation)
Second year depreciation = 8%*($960,000-$76,800)
Second year depreciation = 8%*$883,200
Second year depreciation = $70,656
Budgeted sales in Acer Corporation over the next four months are given below: Budgeted sales September October November December $120,000 $140,000 $180,000 $160,000 Thirty percent of the company's sales are for cash and 70% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 20% are collected in the second month following sale. Given these data, cash collections for December should be:
Answer:
$161,400
Explanation:
Cash collection calculation
December cash sales ($160,000*30%) = $48,000
Credit sales
December: (160000*70%*50%) = $56,000
November: (180000*70%*30%) = $37,800
October: (140,000*70%*20%) = $19,600
Total cash collections $161,400
A work system has five stations that have process times of 5, 9, 4, 9, and 8. What is the bottleneck time
Answer:
9
Explanation:
Given that
There is five stations who have the process time of 5,9,4,9 and 8
We need to find out the bottleneck time
so, as we know that the bottleneck is the duration of the activity who have longer time
So as per the given situation the 9 has the longest duration activity time
So, the same is to be considered
Horizontal analysis evaluates a series of financial statement data over a period of time Group of answer choices that has been arranged from the highest number to the lowest number. that has been arranged from the lowest number to the highest number. to determine which items are in error. to determine the amount and/or percentage increase or decrease that has taken place.
Answer:
C) to determine the amount and/or percentage increase or decrease that has taken place.
Explanation:
Horizontal analysis can be regarded as an approach which is been used in analyzing financial statements through making comparism between specific financial information for a particular accounting period along with the information from other periods. This approach is been used by Analysts to make analysis of historical trends.
It should be noted that Horizontal analysis evaluates a series of financial statement data over a period of time to determine the amount and/or percentage increase or decrease that has taken place.
If the Federal Reserve conducts a $10 million open-market sale and the reserve requirement is 20%, the maximum change in the money supply is: a decrease of $10 million. a decrease of $8 million. an increase of $10 million. a decrease of $50 million.
Answer:
a decrease of $50 million.
Explanation:
Calculation to determine what the maximum change in the money supply is:
Using this formula
Maximum change in the money supply=Federal Reserve /Reserve requirement
Let plug in the formula
Maximum change in the money supply=$10/20%
Maximum change in the money supply=$50 million Decrease
Therefore the maximum change in the money supply is: a decrease of $50 million.
Consider to communities: Alpha and Omega. Alpha has 10 residents, 5 who earn $60,000 and 5 who earn $20,000. Omega also has 10 residents, 5 who earn $300,000 and 5 who earn $50,000
Part 1. The income inequality ratio in Alpha is and the income inequality ratio in Omega is
Part 2. Alpha and Omega each have 10 residents. The top two residents in Alpha have an average income of $90,000, and the bottom two residents in Alpha have an average income of $30,000. The top two residents in Omega have an average income of $250,000, and the bottom two residents in Omega have an average income of $50,000. How much would the top two residents in Alpha have to earn in order for Alpha to have the same income inequality ratio as Omega? The top two Alpha residents would need to earn $ each Part 3 (1 point) Suppose Alpha's community grew to 15 residents with the following incomes: 2 residents' income $175.000 300,000 260,000 65,000 1 resident's income 1 resident's income 3 residents' income 3 residents' income 2 residents' income 1 resident's income 1 resident's income 1 resident's income 26,000 105,000 650,000 18,000 140,000 The new income inequality ratio in Alpha is:_____. (Round to two decimal places.)
To overcome information overload, supervisors should: ________.a. give employees all the information and let them sift out what is useful and what is not b. not ask for feedback, because employees know what is expected c. be sure that employees are paying attention d. keep repeating instructions
