Answer:
The effect of federal government spending on
the national unemployment rate. macro
The effect of government regulation on a
monopolist's production decisions. micro
The optimal interest rate for the Federal
Reserve to targets -microeconomics
3
Hame and explain
of skills that should be possess by an entrepreneur
Answer:
1. Curiosity. Great entrepreneurs are tasked with identifying new problems, identifying potential niche opportunities, refactoring their existing business processes, and innovating. This necessitates a passion for various fields of study and business cases that are outside of one's comfort zone.
2. Time management. Prioritization, milestone definition, execution, and iteration are all critical. None of this would be possible without the proper project management and time allocation methodologies in place to complete the work.
3. Strategic thinking. Learning to break down a problem to its simplest components and identify growth opportunities. Inventive problem-solving and spotting the low-hanging fruit. Defining an MVP's scope and testing concepts in a short amount of time and on a tight budget.
Deindustrialization affects the economic landscape of countries. Describe the change in the dominant economic sector during industrialization and during deindustrialization. Explain ONE spatial change in manufacturing employment patterns as a result of deindustrialization. Explain ONE likely outcome of deindustrialization in a region of manufacturing communities. Comparing the development of steel and the invention of the computer chip, explain how technological development drove economic change in both the Industrial Revolution and the transition to a service-based economy. Describe the significance of a growth pole in an urban or regional economy. Explain how post-Fordist methods of production have transformed operations at individual factories. Explain the degree to which least-cost theory predicts the local site-selection factors for the location of multinational service industry corporate offices.
Answer:
a. One spatial change in manufacturing employment patterns as a result of deindustrialization is production shift.
b. Companies may move their industrial activities and manufacturing jobs to areas with a lower cost of labor.
c. Some natural places could be deemed unfit for humans.
d. Facilitating the construction of railroads, bridges, tall buildings, larger ships, and other infrastructure, Powering service-sector industries such as information technology, financial services, retail, and education, all of which depend on the processing power and connectivity brought about by the computer chip.
e. A growth pole is significant to an urban economy as it will attract supporting businesses such as retail establishments, restaurants, and other service industries to the city or urban area on a local scale.
f. Post-fordism methods of production have transformed operation at individual factories by instead of workers working only one task all day and not being able to perform other tasks in the factory the workerscould now work multiple tasks and were not concealed to one specific area of work, this also made the workers more appealing to other factories and made it to where they could work other positions for more money and could not be so easily concealed for one spot.
Explanation:
A+
The aspects of deindustrialization lead to the economic effects that made changes in the dominant economic sectors.
What is de-industrialization ?The de-industrialization is social and the economic changes that were created due to the removal of the industrial capacity of activity.
The spatial changes in manufacturing employment patterns were a result of the process. The companies may move their industrial activities and manufacturing jobs towards a lower cost of labor. There are some natural places that would be unfit for humans. The construction of the railroads, bridges, the tall buildings, larger ships, etc.,
The growth pole of urban economy as it will attract supporting the businesses such as the retail establishments, restaurants, and other service industries to the city or urban area on a local scale. The post-Fordism methods gave made changes in the operation of individual factories.
Find out more information about deindustrialization.
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On January 2, 2020, Pronghorn Company sells production equipment to Fargo Inc. for $52,000. Pronghorn includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2020. During 2020, Pronghorn incurs costs related to warranties of $890. At December 31, 2020, Pronghorn estimates that $640 of warranty costs will be incurred in the second year of the warranty.
Required:
Prepare the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
Answer:
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
Explanation:
Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
James, Inc., has purchased a brand new machine to produce its High Flight line of shoes. The machine has an economic life of 6 years. The depreciation schedule for the machine is straight-line with no salvage value. The machine costs $594,000. The sales price per pair of shoes is $87, while the variable cost is $37. Fixed costs of $295,000 per year are attributed to the machine. The corporate tax rate is 22 percent and the appropriate discount rate is 10 percent.
What is the financial break-even point?
Answer:
James, Inc.
The financial break-even point in:
Sales unit = 8,322
Sales dollars = $724,014
Explanation:
a) Data and Calculations:
Cost of machine purchased = $594,000
Estimated economic life = 6 years
Salvage value = $0
Sales price per pair of shoes = $87
Variable cost per pair of shoes = 37
Contribution margin per pair = $50
Discounted contribution = $50 * 0.909 = $45.45
After-tax contribution = $35.45 ($45.45 * 0.78)
After-tax contribution margin ratio = $35.45/$87 * 100 = 41%
Fixed cost per year = $295,000
Corporate tax rate = 22%
Discount rate = 10%
Break-even point = Fixed cost/After-tax contribution
= $295,000/$35.45
= 8,322 units
= $724,014 ($87 * 8,322)
Help! I dont have much lime left ;-;
Answer:
Anthropologist - researches and analyzes historical human characteristics
Agricultural Technician - gathers and test materials from plants and animals
Archivist - organizes, maintains and protects documents and records
Statistician - analyzes and explains numerical information
Haste Enterprises issues 20-year, $1,000,000 bonds that pay semiannual interest of $50,000. If the effective annual rate of interest is 11%, what is the issue price of the bonds? Some relevant and irrelevant present value factors: * PV of ordinary annuity of $1: n = 20; i = 11% is 7.96333 **PV of $1: n = 20; i = 11% is 0.12403 * PV of ordinary annuity of $1: n = 40; i = 5.5% is 16.04612 **PV of $1: n = 40; i = 5.5% is 0.11746 Multiple Choice $1,000,000. $919,766. $1,802,306. $992,948.
Answer: $919,766
Explanation:
The Present Value of issuance price of a bond is:
= Present value of interest payments + Present Value of par value at maturity
Present value of interest payments:
The payments are constant so this is an annuity.
Payments are semi annual so the variables should be adjusted for this.
Interest = 11%/2 = 5.5%
Number of periods = 20 * 2 = 40 semi annual periods.
Present value = Annuity * Present value of annuity factor, 5.5%, 40 periods
= 50,000 * 16.04612
= $802,306
Present value of par at maturity:
= Par value * discount factor, 5.5%, 40 years
= 1,000,000 * 0.11746
= $117,460
Issue price of bond:
= 802,306 + 117,460
= $919,766
Renaissance Creations restores antique stained glass windows. All jobs generate some breakage or improper cuts. This scrap can be sold to stained glass hobbyists. Renaissance Creations expects to incur approximately 45,000 direct labor hours during 2013. The following estimates are made in setting the predetermined overhead rate for 2013:
One job that Renaissance Creations completed during 2013 was a stained glass window of the Pierce family crest that took 125 hours, and direct labor is invoiced at $20 per hour. Total direct material cost for the job was $890. Scrap that was generated from this job was sold for $93.
a. What was the predetermined overhead rate (set on the basis of direct labor hours) for 2013?
b. What was the cost of the Pierce stained glass window?
c. Prepare the journal entry to record the sales value of the scrap from the Pierce stained glass window.
d. Assume instead that only certain jobs generate scrap. What was the cost of the Pierce stained glass window?
Answer:
hello your question has some missing information attached below is the missing information
answer :
a) $7
b) $4265
c) attached below
d) $4192
Explanation:
a) determine the predetermined overhead rate
= Total estimated overhead / estimated direct labor hour
Total estimated overhead = $315,000
estimated direct labor hour = 45,000
hence predetermined overhead rate = 315,000 / 45,000 = $7
b) calculate the cost of the Pierce stained glass window
Direct material cost = $890
number of labor hours = 125
direct labor cost = $20 per hour
predetermined overhead rate = $7
∴cost of glass window = [ ( 890 + ( 125 * 20 ) + ( 125 * 7 ) ] = $4265
c) Journal entry used to record sell of scrap
Account name
cash $93
manufacture overhead $93
d) assuming only some jobs generate scrap
first we will calculate the overhead rate per hour
= ( $297000 + $25200) / 45,000 = $7.16
∴ Total cost of pierce stained glass window
= [ (direct material cost + number of labor hours ) + number of labor hours ( predetermined overhead rate ) ] - $93
= $4285 - $93 = $4192
Mann Co. is preparing an Excel spreadsheet for its 5-year, 6%, $400,000 installment notes. The notes were issued on January 1 for $421,236. Installment payments are payable each December 31. A portion of the spreadsheet appears as follows: A B C D E 1 Effective rate: 0.06 2 Cash payments: 100,000 3 Term to maturity in years: 5 4 5 Period Cash Payment Interest Expense Change in Balance Outstanding Balance 6 0 7 1 8 2 What formula should Mann use in cell E8 to calculate the outstanding balance (book value) of the notes after the second interest
Answer:
The correct formula that Mann should use in cell E8 is =E7-D8.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached excel file for the complete question with the sorted data.
The explanation of the answer is now given as follows:
The correct formula that Mann should use in cell E8 is =E7-D8. If this formula is used, it will calculate the outstanding balance (book value) of the notes after the second interest for period 2.
Additional Note:
Although this is not part of the requirement of the question, but it is provided for you to assist your further in your learning.
Note: See the below the attached excel file for the full answer and calculations of all the cells required for the amortization schedule.
For example, using the correct formula =E7-D8 in cell E8 gives $267,301 (in red color).
The net book value of an asset represents the:
The amount at which an organization records an asset in its accounting records.
The netbook value of an asset represents the cost of the asset less depreciation.
Asset value reduces as a result of wear and tear. This is due to the usage of the asset and passage of time.
The monetary value of the part of the asset that have been used up over time, is what is regarded as accumulated depreciation, which means reduction in value.
Hence, the netbook value of an asset represents the cost of the asset less depreciation.Learn more about net book value on:
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Caldwell Corporation is considering an investment proposal that will require an initial outlay of $816,000 and would yield yearly cash inflows of $212,000 for nine years. The company uses a discount rate of 10%. What is the NPV of the investment?
Present value of an ordinary annuity of $1:
8%
9%
10%
1
0.926
0.917
0.909
2
1.783
1.759
1.736
3
2.577
2.531
2.487
4
3.312
3.24
3.17
5
3.993
3.89
3.791
6
4.623
4.486
4.355
7
5.206
5.033
4.868
8
5.747
5.535
5.335
9
6.247
5.995
5.759
A.
$251,667
B.
$371,000
C.
$408,000
D.
$404,908
Answer:
623
Explanation:
because I guessed and 816,000-212,000= 604,000
Miscellaneous costs associated with the purchase of new equipment? include:
Insurance costs before the equipment is ready for use $3,000
Maintenance costs before the equipment is ready for use 700
Insurance costs after the equipment is placed into service 1,400
Cost of trial run 800
Training costs for employees to learn how to use equipment 400
What is the amount assigned to the new? equipment?
A. $4,200.
B. $4,500.
C. $4,900.
D. $6,300.
Answer:
C. $4,900.
Explanation:
Determining the amount assigned to the new equipment
Details Amount
Insurance costs before the equipment is ready for use $3,000
Add: Maintenance costs before the equipment is ready for use $700
Add: Cost of trial run $800
Add: Training costs for employees to learn how to use equipment $400
Total costs assigned to the new equipment $4,900
So, the correct options is option c.
Crypton Electronics has a capital structure consisting of percent common stock and percent debt. A debt issue of $ par value, percent bonds that mature in years and pay annual interest will sell for $. Common stock of the firm is currently selling for $ per share and the firm expects to pay a $ dividend next year. Dividends have grown at the rate of percent per year and are expected to continue to do so for the foreseeable future. What is Crypton's cost of capital where the firm's tax rate is percent?
Answer:
A. After-cost of debt 4.20%
B. Cost of common equity 12.15%
C. Cost of capital 7.02%
Explanation:.
A. Calculation to determine the After-cost of debt
After-cost of debt =RATE(15,5.8%*1000,-980,1000)*(1-30%)
After-cost of debt =4.20%
Therefore After-cost of debt is 4.20%
b) Calculation to determine cost of common equity
Cost of common equity=2.17/29.12+4.7%
Cost of common equity=12.15%
Therefore Cost of common equity is 12.15%
c) Calculation to determine cost of capital
Cost of capital=(4.20%*63%)+(12.15%*36%)
Cost of capital=7.02%
Therefore Cost of capital is 7.02%
If the toothpaste market is monopolistically competitive, product differentiation would not take the form of: production of many varieties of toothpaste, including those with whitening agents. quality differences among the various brands. setting the price of the product well below the price charged by the rivals. differentiation in the locations where certain toothpastes are available.
Answer:
setting the price of the product well below the price charged by the rival
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
If a monopolistically competitive sets price below competitors, losses would be made. So, there is no incentive to do this
You own shares of Somner Resources' preferred stock, which currently sells for per share and pays annual dividends of $ per share. If the market's required yield on similar shares is percent, should you sell your shares or buy more?
Answer:
You should buy more shares
Explanation:
The above-mentioned question is missing few components. I have added them to explain on how the question would be solved if all the variables were provided. Please note the additions in bold text below. The answer of which is given afterwards.
You own 300 shares of Somner Resources' preferred stock, which currently sells for $39 per share and pays annual dividends of $5.50 per share. If the market's required yield on similar shares 12% is percent, should you sell your shares or buy more?
Solution as mentioned below:
First of all we need to calculate value of the preferred stock by dividing the annual dividend per share from the market required rate.
Value of preferred stock = 5.50 / 12%
Value of preferred stock = $45.83
Now given the fact that the current price at which the stocks are sold is $39 which is less than the price at which they are actually valued which is $45.83. You should buy more of the shares as they are currently undervalued.
During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896 for FICA, $7,500 for federal income tax, $3,100 for state income tax, and $400 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $700 for state unemployment tax. Journalize payroll entries.
Answer:
A. Dr salaries and wages expense for 64,000
Cr to FICA taxes payable for 4,896
Cr Federal Income Tax Payable for 7,500
Cr State Income Tax Payable for 3,100
Cr Union Dues Payable for 400
Cr Salaries and Wages Payable for 48,104
B. Dr payroll tax expense for 5,596
Cr FICA tax payable for 4,896
Cr State Unemployment for 700
Explanation:
Preparation to Journalize the payroll entries
A. Dr salaries and wages expense for 64,000
Cr to FICA taxes payable for 4,896
Cr Federal Income Tax Payable for 7,500
Cr State Income Tax Payable for 3,100
Cr Union Dues Payable for 400
Cr Salaries and Wages Payable for 48,104
(64,000-4,896-7,500-3,100-400)
B. Dr payroll tax expense for 5,596
(4,896+700)
Cr FICA tax payable for 4,896
Cr State Unemployment for 700
On January 1, 2021, the Highlands Company began construction on a new manufacturing facility for its own use. The building was completed in 2022. The company borrowed $2,050,000 at 11% on January 1 to help finance the construction. In addition to the construction loan, Highlands had the following debt outstanding throughout 2021:$6,000,000, 16% bonds$4,000,000, 11% long-term note Construction expenditures incurred during 2021 were as follows:January 1 $ 840,000March 31 1,440,000June 30 1,088,000September 30 840,000December 31 640,000Required:Calculate the amount of interest capitalized for 2021 using the specific interest method. (Do not round the intermediate calculations. Round your percentage answers to 1 decimal place (i.e. 0.123 should be entered as 12.3%).)
Answer:
Highlands Company
The interest capitalized is:
= $294,140.
Explanation:
a) Data and Calculations:
Borrowings on January 1 = $2,050,000 at 11%
Debt outstanding throughout 2021:
16% bonds = $6,000,000
11% long-term note = $4,000,000
Construction expenditures:
January 1 $ 840,000
March 31 1,440,000
June 30 1,088,000
September 30 840,000
December 31 640,000
Date Expenditure Weights Weighted-Average
January 1 $ 840,000 12/12 $840,000
March 31 1,440,000 9/12 1,080,000
June 30 1,088,000 6/12 544,000
September 30 840,000 3/12 210,000
December 31 640,000 0/12 0
Accumulated weighted-average expenditure = $2,674,000
Interest capitalized for 2021, using the specific interest method = $ ($2,674,000 * 11%)
= $294,140
The company budgeted for production of 2,400 units in June, but actual production was 2,500 units. The company used 19,850 pounds of direct material and 980 direct labor-hours to produce this output. The company purchased 21,700 pounds of the direct material at $6.70 per pound. The actual direct labor rate was $19.20 per hour and the actual variable overhead rate was $1.80 per hour.
The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.
The variable overhead efficiency variance for June is: _________
a. $36 U
b. $36 F
c. $40 U
d. $40 F
Answer:
d. $40 F
Explanation:
Calculation to determine what The variable overhead efficiency variance for June is
First step is to calculate the SH
SH = 2,500 units × 0.4 hour per unit
SH= 1,000 hours
Now let calculate the Variable overhead efficiency variance
Using this formula
Variable overhead efficiency variance = (AH - SH) × SR
Let plug in the formula
Variable overhead efficiency variance= (980 hours - 1,000 hours) × $2 per hour= (-20 hours) × $2 per hour
Variable overhead efficiency variance= $40 F
Therefore Variable overhead efficiency variance is $40 F
Pension funds pay lifetime annuities to recipients. If a firm will remain in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $2 million per year to beneficiaries. The yield to maturity on all bonds is 16%. a. If the duration of 5-year maturity bonds with coupon rates of 12% (paid annually) is four years and the duration of 20-year maturity bonds with coupon rates of 6% (paid annually) is 11 years, how much of each of these coupon bonds (in market value) will you want to hold to both fully fund and immunize your obligation
Solution :
The PV "perpetual" obligation of the firm = [tex]$\frac{\$ 2 \text{ million}}{0.16}$[/tex]
= $ 12.5 million
Also based on duration of the perpetuity, duration of this obligation = [tex]$\frac{1.16}{0.16}$[/tex]
= 7.25 years
Let [tex]$w$[/tex] be the [tex]$\text{weight}$[/tex] on the [tex]$5$[/tex] year maturity bond, which has a duration of [tex]$4$[/tex]years. Then :
[tex]$w \times 4 +(1-w) \times 11 = 7.25$[/tex]
[tex]$w=0.5357$[/tex]
Therefore,
[tex]$0.5357 \times \$ 12.5 = \$ 6.7$[/tex] million in the [tex]$5$[/tex] year bond
[tex]$0.4643 \times \$12.5=\$5.8$[/tex] million in the [tex]$2$[/tex] year bond.
Therefore, the total invested amounts to $ [tex]$(6.7+5.8)$[/tex] million = [tex]$\$12.5$[/tex] million, which fully matches the funding needs.
Which of the following is not true concerning account titles:multiple choiceThere is a wide range of account titles among different types of companies.All companies use exactly the same account titles.There is a small range in account titles regardless of type of company.All companies use different account titles.
Answer:
There is a wide range of account titles among different types of companies
Explanation:
An account title can be regarded as a
unique name that is been assigned or associated to particular account in an accounting system. It is very crucial to use An account title when there is a need for identification of accounts by
accounting staff , this is because the title usually conveys the purpose of that particular account. Some of the account titles that can be used are;
Cash on Hand, Petty Cash Fund, and
Cash in Bank,. In account titles;
✓All companies use exactly the same account titles.
✓There is a small range in account titles regardless of type of company.
✓All companies use different account titles.
Financial information is presented below: Operating expenses $ 45000 Sales returns and allowances 3000 Sales discounts 7000 Sales revenue 160000 Cost of goods sold 96000 Gross Profit would be $64000. $54000. $61000. $67000.
Explanation:
160,000−3,000−96,000=61000
expenses are not taken into account because their not required to find the gross profit.
Financial information is presented below: Operating expenses $ 45000 Sales returns and allowances 3000 Sales discounts 7000 Sales revenue 160000 Cost of goods sold 96000 Gross Profit would be "$64000". The correct option is A.
To calculate the Gross Profit, we use the formula:
Gross Profit = Sales Revenue - Cost of Goods Sold
Given the financial information,
Sales Revenue = $160,000
Cost of Goods Sold = $96,000
Gross Profit = $160,000 - $96,000
Gross Profit = $64,000
Therefore, the correct option is A that is $64,000.
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According to the law of demand, as prices fall, ceteris paribus
quantity demanded decreases.
demand increases.
quantity demanded increases.
demand decreases
Answer:
quantity demanded increases
Explanation:
price and demand are inversely related
this means as price falls it increases the willingness and ability of consumers to purchase a product.
Dennis Kozlowski, John Thain, and Raj Rajaratnam are former CEOs mentioned in the text that have been involved in corporate governance problems to one degree or another. What did Dennis Kozlowski do that was considered inappropriate behavior? Multiple Choice He provided insider information to the Goldman Sachs' board. He sold 500,000 shares of his personal stock right before a negative quarterly earnings report was released. He spent $2 million of company funds for his own birthday party. He created a Ponzi scheme that grew to $65 billion dollars before the SEC shut it down. He spent $1.2 million of company funds redecorating his office while demanding cost cutting from employees.
Answer: He spent $2 million of company funds for his own birthday party.
Explanation:
The article in question relates to the Agency problem which is a problem that arises as a result of management acting in such a way as to benefit themselves instead of the shareholders that they are supposed to be maximizing wealth for.
Dennis Kozlowski was the former CEO of Tyco. In this position, he committed several financial crimes such as throwing a $2 million birthday party that was funded by the company. He eventually went to prison for this and the other crimes.
how can gdp per capita and poverty rates indicate standards of living in each system?
In determining Blue Corporation's current earnings and profits (E & P) for 2019, how should taxable income be adjusted as a result of the following transactions?
Select either "Increase", "Decrease" or "Not be affected", whichever is applicable.
a. A capital loss carryover from 2018, fully used in 2019.
b. Nondeductible meal expenses in 2019.
c. Interest on municipal bonds received in 2019.
d. Nondeductible lobbying expenses in 2019.
e. Loss on a sale between related parties in 2019.
f. Federal income tax refund received in 2019.
Answer: See explanation
Explanation:
Taxable income simply refers to the income that the government imposes a tax on. Taxable income should be adjusted on the following transactions as follows:
a. A capital loss carryover from 2018, fully used in 2019.
Based on the above transaction, taxable income should be increased.
b. Nondeductible meal expenses in 2019.
Based on the above transaction, taxable income should be decreased.
c. Interest on municipal bonds received in 2019.
Based on the above transaction, taxable income should be increased.
d. Nondeductible lobbying expenses in 2019.
Based on the above transaction, taxable income should be decreased.
e. Loss on a sale between related parties in 2019.
Based on the above transaction, taxable income should be decreased.
f. Federal income tax refund received in 2019.
Based on the above transaction, taxable income should be increased.
On January 1, 2018, Frontier Corporation purchased for $474,000, equipment having a useful life of ten years and an estimated salvage value of $24,000. Adventure has recorded depreciation of the equipment on the straight-line method. On December 31, 2025, the equipment was sold for $84,000. What is the journal entry to record this sale
Answer:
Frontier Corporation
Journal Entry to record the sale:
Debit Cash $84,000
Credit Sale of Equipment $84,000
To record the sale of the equipment.
Others:
Debit Sale of Equipment $474,000
Credit Equipment $474,000
To transfer the equipment account to the Sale of Equipment account.
Debit Accumulated Depreciation $360,000
Credit Sale of Equipment $360,000
To transfer the accumulated depreciation to the Sale of Equipment account.
Debit Loss from Sale of Equipment $30,000
Credit Sale of Equipment $30,000
To close the Sale of Equipment account to income statement.
Explanation:
a) Data and Calculations:
January 1, 2018: Purchase of equipment = $474,000
Estimated useful life = 10 years
Estimated salvage value = $24,000
Depreciable amount = $450,000 ($474,000 - $24,000)
Straight-line Annual Depreciation Expense = $45,000 ($450,000/10)
Accumulated depreciation after 8 years = $360,000 ($45,000 * 8)
Net book value of equipment = $114,000 ($474,000 - $360,000)
December 31, 2015: Proceeds from sale of equipment = $84,000
Analysis:
Cash $84,000 Sale of Equipment $84,000
Sale of Equipment $474,000 Equipment $474,000
Accumulated Depreciation $360,000 Sale of Equipment $360,000
Loss from Sale of Equipment $30,000 Sale of Equipment $30,000
what is the meaning of life
Answer:
To be totally honest... I cant tell you. All I know so far is that you are born to die
Explanation:
On December 1, 2021, Coronado Industries exchanged 48000 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Coronado at a cost of $45 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $60 per share (the shares were originally issued at $35 per share). As a result of this exchange, Coronado's total stockholders' equity will increase by
Answer:
$2,880,000
Explanation:
Calculation to determine what Coronado's total stockholders' equity will increase by
Increase in total stockholders' equity =[(48000*45)-(48000 * (60-45))]
Increase in total stockholders' equity =$2,160,000+$720,000
Increase in total stockholders' equity =$2,880,000
Therefore the total stockholders' equity will increase by $2,880,000
All of the following are examples of current account transactions EXCEPT: Elimination Tool Select one answer A The United States purchases 200 tons of Canadian bacon. B Argentina purchases 10,000 French berets. C Mexico purchases 500 Spanish matador outfits. D Germany pays 1 million euro for the services of Swiss accountants. E China purchases $10 billion of United States government securities.
Answer:
E
Explanation:
the current account of a country measures the value of the trade balance, transfers and the net income
the component of the current account includes
trade balance - it measures the value of the import and export of goods and services of a country.
net income - measures the value of the income received by a country's residents less the income paid to foreigners
transfers - it includes income sent home by a country's citizens working outside the country
Asset income - measures changes in the asset income
this transaction - China purchases $10 billion of United States government securities - would be included in the capital account
Presented below is information related to Splish Company at December 31, 2020, the end of its first year of operations.
Sales revenue $334,910
Cost of goods sold 149,030
Selling and administrative expenses 54,000
Gain on sale of plant assets 32,710
Unrealized gain on available-for-sale debt investments 9,080
Interest expense 6,360
Loss on discontinued operations 11,260
Dividends declared and paid 4,660
Compute the following:
(a) Income from operations -
(b) Net income -
(c) Comprehensive income
(d) Retained earnings balance at December 31, 2020 -
Answer:
a. $131,880
b. $167,310
c. $156,050
d. $151,390
Explanation:
(a) Income from operations
Income from Operations is Income resulting from Primary Trading Activities of the Company.
Income from Operations = Gross Profit + Operating Income - Operating Expenses
where,
Gross Profit = Sales - Cost of Goods Sold
= $334,910 - $149,030
= $185,880
thus,
Income from Operations = $185,880 - $54,000 = $131,880
(b) Net income
Income resulting from Primary and Secondary Trading Activities of the the Company.
Net income = Income from Operations + Non Operating Income - Non Operating Expenses
= $131,880 + $32,710 + $9,080 - $6,360
= $167,310
(c) Comprehensive income
Income from both Continuing and Non - Continuing Activities.
Comprehensive income = Net income + Non - Continuing Activities
= $167,310 - $11,260
= $156,050
(d) Retained earnings balance at December 31, 2020
The Income remaining after distributions to shareholders have been made.
Retained earnings = Comprehensive income - Dividends
= $156,050 - $4,660
= $151,390
After a devastating hurricane, households try to secure loans to repair and rebuild. Other things equal, this would lead toan increase in interest rates of home repair loans as the demand for those loans increased.an increase in interest rates of home repair loans as the demand for those loans increased.an increase in interest rates of home repair loans as the supply for those loans decreased.an increase in interest rates of home repair loans as the supply for those loans decreased.a decrease in interest rates of home repair loans as the supply for those loans increased.
Answer:
Other things equal, this would lead to:
an increase in interest rates of home repair loans as the demand for those loans increased.
Explanation:
With an increase in the demand for house repair loans, as a result of the devastation wrought by the hurricane, the rate of interest on loans normally increases with demand. The concept of scarcity of loanable funds (or limited resources) is the root cause of this increase in house loan rate. The reverse becomes the case when there is a decrease in demand.