Business College
Answers
Answer 1
Answer:
the ending balance of an equity is $63,250
Explanation:
The computation of the ending balance of equity is shown below:
Cash Invested $15,400
Photography equipment contributed$39,000
Service revenue for cash $7,600
Service revenue on account $4,650
Monthly rent paid -$3,400
Ending balance of an equity $63,250
Hence, the ending balance of an equity is $63,250
Related Questions
Slinky established a petty cash fund for $400. Slinky purchased 50 units of inventory from a supplier on credit. The goods cost $40 each and the credit terms were 5/10, n/30. The shipping costs, paid in cash by Slinky, were $100 under the terms FOB Shipping. Slinky received the inventory on July 3rd. Slinky returned 5 units of inventory from the July 3rd transaction to the supplier. Slinky sold 15 of the units purchased on July 3rd for $55 each to customers for cash. Slinky accepted a return of one unit of inventory from a July 6th customer for a cash refund. Slinky paid the supplier for one-half of the inventory purchased on July 3rd. Be sure to account for any returns and/or purchase discounts. Slinky used $40 out of petty cash to pay for coffee meeting (coffee expense). Slinky purchased 10 units of inventory from a supplier on credit. The goods cost $25 each and no credit terms were granted. The shipping costs were $50 under the terms FOB destination and Slinky received the inventory on November 2nd Slinky paid the remaining balance owed to the supplier from the July 3rd transaction. Slinky replenished petty cash.
Required:
Prepare Journal Entries for July
Answers
Answer:the answer is
Explanation:
i have 400 and the 50 units
The wages paid to thoose who devote theirtime to supervision or to work of a general nature in the manufacturing process are included in the indirect cost of the factory operation true
or false
Answers
Answer:
sa
Explanation:
what is the companys net income, according to the following data. credit sales 80000 cash sales 500000 opperation expenses on credit 200000 chas operaitng expenses 700000 accounts receivable (beg o year) 50000 g
Answers
Answer:
$240,000
Explanation:
Note: Question is incomplete and the complete question is attached as picture below
Particulars Amount
Total sales $1,300,000 ($800000+$500000)
Less: Total operating expenses $900,000 ($200000+$700000)
Income before tax $400,000
Less: Corporate tax $160,000 ($400,000*40%)
Net Income $240,000
Home Plate Corporation manufactures baseball uniforms and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data: Budgeted output units 7,000 units Budgeted machine-hours 19,000 hours Budgeted variable manufacturing overhead costs for 7,000 units $119,000 Actual output units produced 6,000 units Actual machine-hours used 18,000 hours Actual variable manufacturing overhead costs $108,000 What is the budgeted variable overhead cost rate per output unit?
Answers
Answer:
$17
Explanation:
The computation of the budgeted variable overhead cost rate per output unit is shown below;
= Budgeted variable manufacturing cost ÷ Budgeted output
= 119,000 ÷ 7,000 units
= $17
We simply applied the above formula so that the budgeted variable overhead cost rate per output could come
Jisue Construction Company received $12,000 for six months rental income in advance on November 1, 2020, and credited the Rental Revenue account for $12,000. The required adjusting entry on December 31, 2020, would include a Group of answer choices
Answers
Answer:
Debit : Rent in Advance $4,000
Credit : Rent Income $4,000
Explanation:
When Rent was paid in advance :
Debit : Cash $12,000
Credit : Rent in Advance $12,000
The required adjusting entry on December 31, 2020 :
Debit : Rent in Advance $4,000
Credit : Rent Income $4,000
Bill thought he had received the best deal on his new car. Shortly after the purchase, Bill started to notice certain disadvantages of his new car as he learned more about other cars available. Bill is experiencing ________.a. postpurchase cultureb. selective perceptionc. information evaluationd. postpurchase cognitive dissonancee. purchase decision
Answers
Answer:
cognitive dissonance
Explanation:
Cognitive dissonance defines the situation where it includes the attitudes i.e. conflicted, behaviors, etc. It generated the mental discomfort feeling that would result in change in the attitude, belief, etc in order to decreased the discomfort also at the same time it would restore the balance
Therefore as per the given situation, it is cognitive dissonance
A product has a demand of 4000 units per year. Ordering cost is $20 per order, and holding cost is $4 per unit per year. The EOQ model is appropriate. The cost-minimizing solution for this product will cost ________ per year in total annual inventory (holding and ordering) costs. $1200 $800 $400 Cannot be determined because the unit price is not known. Zero; this is a class C item
Answers
Answer:
the Annual inventory cost is $800.
Explanation:
The computation of the total annual inventory cost is given below:
Demand, D = 4000
Order cost, S = $ 20
Holding cost, H = $ 4
So,
EOQ = sqrt(2 ×D × S ÷ H)
= sqrt(2 × 4000 × 20 ÷ 4)
= 200
Now
Annual inventory cost = Annual setup cost + Annual holding cost
= (D ÷ Q × S) + (Q ÷ 2 × H)
= (4000 ÷ 200 × 20) + (200 ÷ 2 × 4)
= 400 + 400
= $800
hence, the Annual inventory cost is $800.
According to the research, for the duration from 1926 to 2015: A. The real rate of return on U.S. Treasury bills has been negative. B. Small company stocks have underperformed large company stocks. C. Long-term government bonds have produced higher returns than long-term corporate bonds. D. The risk premium on long-term corporate bonds has exceeded the risk premium on long-term government bonds. E. The risk premium on large company stocks has exceeded the risk premium on small company stocks.
Answers
Answer: D. The risk premium on long-term corporate bonds has exceeded the risk premium on long-term government bonds.
Explanation:
It has been shown that between 1926 and 2015, the risk premium attached to long term corporate bonds is more than those of comparable government bonds and this is supported by financial theory.
Government bonds are traditionally meant to be possess less risk because they are backed by the full faith of the government. They will therefore posses a lower risk premium (risk premium is the extra amount paid on a bond to compensate for risk) than corporate bonds because they have less risk than corporate bonds.
With trade, the slope of the Consumption Possibilities Curve (CPC) is equal to Group of answer choices the opportunity cost of the good on the vertical axis. the opportunity cost of the good on the horizontal axis. the world price of the good on the vertical axis. the world price of the good on the horizontal axis.
Answers
Answer: the world price of the good on the horizontal axis.
Explanation:
The Consumption Possibilities Curve (CPC) is much like the Production Possibilities Curve (PPC) except that the PPC represents the combinations of two goods that can be produced and consumed when a country is not trading but CPC represents that same measure when there is trade.
In the CPC graph, the world price of the good is represented on the horizontal axis to show the prices of the goods on the world market vs the quantity that can be acquired.
The kinked demand model assumes firms will: a. follow the price decreases of rivals b. ignore the price increases of rivals c. ignore all price changes of rivals d. follow all price changes of rivals e. a and b
Answers
Answer:
b. ignore the price increases of rivals
Explanation:
Surplus is the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.
Producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.
Consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On
Generally, the kinked demand model assumes firms will ignore the price increases of rivals
Answer:
b. ignore the price increases of rivals
Explanation:
The kinked demand model assumes firms will: ignore the price increases of rivals.
Harry and Wanda were married in Texas, a community property state, but moved to Virginia, a common law state. The calculation of their income on a joint return: a.Will increase as a result of changing their state of residence. b.Will not change as a result of changing their state of residence. c.Will decrease as a result of changing their state of residence. d.Will not be permitted.
Answers
Answer:
b.Will not change as a result of changing their state of residence.
Explanation:
Moving from a community property state to a common law state doesn't affect federal taxes while filing as a married couple. Community property states laws regarding assets acquired while two people are married; they are owned by both spouses. While in common law states, the spouse that purchased an asset is the owner.
you are considering investing in general motors (GM). which of the following is an example of diversifable risk? a. risk resulting from economic uncertainly b. risk resulting from an increase in inflation rate c. risk resulting from an increase intrest rates d. risk resulting from an expected automovile industry shock g
Answers
Answer:
d. risk resulting from an expected automobile industry shock g
Explanation:
Non systemic risk are risks that can be diversified away. they are also called company specific risk or industry specific risk . Examples of this type of risk is a manager engaging in fraudulent activities and risk resulting from an expected automobile industry shock
Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
Acellus
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If a corporation makes $20 million in one year,
after taxes are paid (at 35%), that company
will have a net income of
million
A $7
B. $10
C. $13
Answers
Answer:
A) 7 million
Explanation:
20 000 000 X 35÷100 = 7 million
A machine with a cost of $61,800 has an estimated residual value of $4,986 and an estimated life of 5 years or 18,970 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method
Answers
Answer:
$14,832
Explanation:
Depreciation charge = 2 x SLDP x BVSLDP
where,
SLDP = 100 ÷ useful life = 20 %
and
BVSLDP = Cost or Net Book Value
therefore,
1st year
Depreciation charge = 2 x 20 % x $61,800 = $24,720
2nd year
Depreciation charge = 2 x 20 % x ($61,800 - $24,720) = $14,832
conclusion
the amount of depreciation for the second full year is $14,832
The internal rate of return for a project will increase if: the initial cost of the project can be reduced. the total amount of the cash inflows is reduced. each cash inflow is moved such that it occurs one year later than originally projected. the required rate of return is reduced. the discount rate is increased.
Answers
Answer:
the initial cost of the project can be reduced
Explanation:
As we know that the internal rate of return is the return where the net present value comes to zero or we can say that the initial investment would be equivalent to the present value of annual cash inflows
In the case when the internal rate of return is rise up so the initial investment or initial cost would be decreased
Therefore the first option is correct
Zonk Company needs to raise $47.5 million to fund a new project. The company will sell shares at a price of $27.90 in a general cash offer and the company's underwriters will charge a spread of 6 percent. The direct flotation costs associated with the issue are $650,000. How many shares need to be sold?
Answers
Answer:
Zonk Company
The number of shares that needs to be sold is:
= 1,842,569 shares.
Explanation:
a) Data and Calculations:
Amount needed to fund a new project = $47,500,000
Selling price per share = $27.90
Proceed per share after underwriter's spread = $26.132 ($27.80 * (1 - 0.06)
Underwriters spread per share = 6% * $27.80 = $1.668
Direct flotation costs = $650,000
Number of shares to float = ($47,500,000 + $650,000)/$26.132
= 1,842,569 shares
Expanded Proof:
Proceeds from share issue = $51,223,418 (1,842,569 * $27.80)
less underwriter's spread = 3,073,405 (1,842,569 * $1.668)
Net proceeds before flotation $48,150,013
less direct flotation costs = 650,000
Funds raised = $47,500,013
Which one of these equations is an accurate expression of the balance sheet? Assets ≡ Liabilities −Stockholders’ equity Stockholders’ equity ≡ Assets + Liabilities Liabilities ≡ Stockholders’ equity −Assets Assets ≡ Stockholders’ equity −Liabilities Stockholders’ equity ≡ Assets −Liabilities
Answers
Answer:
Stockholders’ equity ≡ Assets −Liabilities
Explanation:
The Balance Sheet equation is also known as the Accounting equation. It can be written in 3 ways as :
Assets = Equity + Liabilities
or
Equity = Assets - Liabilities
or
Liabilities = Assets - Equity
Which phrase best completes the diagram?
Exchange rate increases. -> ___?____
A. Interest rates increase
B. Trade deficit increases
C. Economic growth decreases
D. Inflation rates increase
Answers
Explanation:
trade deficite ingreasea
The correct phrase to complete the diagram is "Trade deficit increases". When the exchange rate increases, it means that the currency of the country becomes stronger relative to other currencies. Therefore, option B is correct.
What is an Exchange rate?
An exchange rate refers to the value of one currency expressed in terms of another currency. In other words, it is the price of one currency in terms of another currency.
Exchange rates are used to convert one currency into another for a variety of purposes, such as international trade, investment, tourism, and remittance. Exchange rates are constantly fluctuating due to a variety of factors, including economic, political, and social factors, as well as supply and demand in foreign exchange markets.
Exchange rates can be expressed in two ways: direct quote and indirect quote. A direct quote expresses the value of one unit of a foreign currency in terms of the domestic currency, while an indirect quote expresses the value of one unit of the domestic currency in terms of the foreign currency.
Learn more about exchange rate here:
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Marx, Inc. has a net income of $600,000 for 2012, and there are 400,000 weighted-average shares of common stock outstanding. Dividends declared and paid during the year amounted to $80,000 on the preferred stock and $120,000 on the common stock. The earnings per share for 2012 is Group of answer choices
Answers
Answer:
$1.3
Explanation:
Net income = $600,000
Outstanding shares = 400,000
Dividends paid = $80,000
So, by using earning per share formula,
Earning per share = (Net income - Dividends paid) ÷ outstanding shares
By putting the value, we get
Earning per share = ($600,000 - $80,000) ÷ 400,000
= $520,000 ÷ 400,000
= $1.3
Hence, the earning per share for 2012 is $1.3.
Beyer Company is considering the purchase of an asset for $185,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Assume that Beyer requires a 12% return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 87,000 $ 46,000 $ 72,000 $ 132,000 $ 41,000 $ 378,000 a. Compute the net present value of this investment. b. Should Beyer accept the investment
Answers
Answer:
a. $87,750.56
b. Accept the investment, because it gives a positive net present value.
Explanation:
the net present value is the today`s value of future cash flows. We determine the net present value by discounting the future cash flow using the required return or the cost of capital.
Using a Financial calculator this can be determined as :
- $185,000 CF0
$ 87,000 CF 1
$ 46,000 CF 2
$ 72,000 CF 3
$ 132,000 CF 4
$ 41,000 CF 5
i/yr = 12%
Then, SHIFT NPV gives $87,750.56
We accept an investment only and only if it has a positive net present value.
When suppliers collaborate with the firm overall performance has been known to improve up to _________
Answers
Hi, you've asked an incomplete question. Answered from a general business perspective.
Explanation:
Note, a firm may measure its overall performance using some of the metrics below:
amount of sales in dollarsthe total cost of production,production capacity, etc.
Only when the firm's suppliers are reliable, affordable, and efficient, would the firm be able to meet their product demand.
PERSONAL FINANCE WILL GIVE BRAINLIEST !!Melanie is having a lot of financial problems. She is drowning in debt and needs help. She is looking for an organization to help her. What is a sign of a reputable organization?
A.
They disclose your rights clearly and share with you free services that may be helpful to you.
B.
They charge you for their services before those services have been completed.
C.
They are not related to your personal bank or financial institution.
D.
They are not classified as a consumer protection agency.
Answers
Answer:
A. They disclose your rights clearly and share with you free services that may be helpful to you.
Explanation:
Answer:
A.
They disclose your rights clearly and share with you free services that may be helpful to you.
Explanation:
Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $179,850. The equipment will have an initial cost of $545,000 and have a 7 year life. If the salvage value of the equipment is estimated to be $34,000, what is the accounting rate of return
Answers
Answer:
So, accounting rate of return = 33 %
Explanation:
given data
net income after tax = $179,850
initial cost = $545,000
time = 7 year
salvage value = $34,000
we will get here the accounting rate of return
solution
as we know that accounting rate of return is express as
accounting rate of return = Net income ÷ initial investment .................1
put here value and we get
accounting rate of return = [tex]\frac{179850}{545000}[/tex]
So, accounting rate of return = 33 %
Finance professionals make decisions that fall into three distinctive areas: corporate finance, capital markets, and investments. Below is a set of decisions made by finance professionals. Categorize the decisions according to the area of finance to which they belong.
Decision
Corporate Finance
Capital Markets
Investments
Ethan must make a decision on how to cut costs so that his company can generate extra cash flow to acquire assets.
Radford works for an investment bank and makes decisions about the sale of new common stock by ABCL Inc.
Aakash works for a financial advising firm. He must create a financial plan and come up with a list of securities in which his client can invest. Aakash must make decisions regarding the investments that he should recommend to his clients to include in their portfolio.
Answers
Answer:
corporate finance
capital markets
investments
Explanation:
Corporate finance is a branch of finance that is concerned with how companies manage their sources of funds, capital structure and make investment decisions.
Ethan must make a decision on how to minimise cost so as to acquire more assets. the purchase of asset is an investment decision. the area of finance here is corporate finance.
Capital market is a market where buyers and sellers come together to buy and sell financial securities.
There are two types of capital markets :
Primary market - new issues of stocks and securities are traded in this market. Secondary market -previously issued securities are traded in this market.
Radford is selling a newly issued common stock. He is engaged in the primary market of the capital market
Investment is an asset purchased that has the potential to increase wealth or income of the purchaser.
For example, the purchase of of securities has the potential to increase the wealth of the holder.
Aakash is involved in investment
Clampett, Incorporated, converted to an S corporation on January 1, 2020. At that time, Clampett, Incorporated, had cash ($40,000), inventory (FMV $60,000, basis $30,000), accounts receivable (FMV $40,000, basis $40,000), and equipment (FMV $60,000, basis $80,000). In 2021, Clampett, Incorporated, sells its entire inventory for $60,000 (basis $30,000). Assume the corporate tax rate is 21 percent. Clampett, Incorporated's taxable income in 2021 would have been $1,000,000 if it had been a C corporation. How much built-in gains tax does Clampett, Incorporated, pay in 2021
Answers
Answer:
$2,100
Explanation:
Particulars Fair market value Basis Differences
Inventory $60,000 $30,000 $30,000
Account receivables $40,000 $40,000 $0
Equipment $60,000 $80,000 ($20,000)
Taxable gain $10,000
Tax rate 21%
Built in gains tax $2,100
So therefore, the built-in-gains tax that Clampett (Incorporated) will pay in 2021 is $2,100.
Why south African post office taking private courier companies to court
Answers
Answer:
the south Africa post office (SAPO)
Brian has been recently promoted to the position of CEO at a large company that produces a wide variety of consumer goods. Brian formerly served as the Vice President of Sales at this same company. At his sales position, Brian observed that successful employees tended to have an optimistic disposition. They were not often critical and tended to view even challenging circ*mstances in a positive way. In the previous position, Brian tried to hire and promote people who have this disposition. As CEO, he plans to use the same approach across the company. Since the personality traits of the company's employees have never before been measured, Brian's first step will be to administer a personality test to all employees. After that, all hiring and promotion decisions will need to take the employee's disposition into account. Which of the following is assumed by Brian's plan?
a. The employees who are in leadership positions across the company are likely to have optimistic dispositions.
b. No other personality traits are likely to lead to success at the company.
c. Personality traits that are associated with success in one situation are likely to lead to success in other situations.
d. Every successful employee in the Sales Department has an optimistic disposition.
e. Efforts to reward people with specific personality types will not be met with much opposition from those with different personality types.
Answers
Answer: C. Personality traits that are associated with success in one situation are likely to lead to success in other situations.
Explanation:
Personality traits shows the thoughts, behaviors and feelings of people. The main personality traits are extraversion, openness, agreeableness, conscientiousness, and neuroticism
Based in the information given in the question, Brian assumes that the personality traits that are associated with success in one situation are likely to lead to success in other situations. This is because personality traits are typically consistent and playing a vital role in the success of an individual.
Kyle, whose wife died in December 2017, filed a joint tax return for 2017. He did not remarry but has continued to maintain his home in which his two dependent children live. What is Kyle's filing status in 2020
Answers
His filing status is head of household.
In its first month of operations, Cheyenne Corp. made three purchases of merchandise in the following sequence: (1) 185 units at $5, (2) 570 units at $6, and (3) 130 units at $7.Assuming there are 260 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Cheyenne uses a periodic inventory system.
Answers
Answer:
a. $1,375
b. $1,240
Explanation:
FIFO method
FIFO assumes that the inventory to arrive first will be sold first. Inventory values depend on earlier purchases
Inventory = 185 x $5 + 75 x $6
= $1,375
LIFO method
LIFO assumes that the inventory to arrive last will be sold first. Inventory values depend on recent purchases
Inventory = 130 x $7 + 55 x $6
= $1,240
Nick's Marine Company (NMC) currently has a stock price per share of $38. If NMC's cost of equity capital (the discount rate for equity) is 15.2% and capital gains rate (gain/loss in prices relative to today's price) for the next year is expected to be 11.4%, the dividend in the upcoming year (t = 1) should be?
Answers
Answer:
$ 1.44
Explanation:
Given :
The stock price of 1 share = $ 38
The cost of equity capital, r = 15.2%
The capital gains rate for the next year, g = $ 11.4
Therefore, as per the dividend discount model,
The price per share = [tex]$\frac{D}{r-g}$[/tex]
[tex]$\$ 38=\frac{D}{(0.152-0.114)}$[/tex]
[tex]$\$ 38=\frac{D}{0.038}$[/tex]
D = 38 x 0.038
= 1.44
Therefore, the dividend = $ 1.44
