Answer:
$906,000
Explanation:
Cash disbursements for April.
Purchases - 60 % $300,000
Purchases - 40 % $160,000
Wages expense $120,000
Purchase of office equipment $200,000
Selling and administrative expenses $126,000
Total $906,000
therefore,
the amount of budgeted cash disbursements for April is $906,000
Personal branding involves ________.
Answer:
Personal Branding. the practice of people marketing themselves and their careers as brands.
The stockholders’ equity section of Whisper Co. at December 31, 2018 is as follows. Common stock—$15 par value, 100,000 shares authorized, 45,000 shares issued and outstanding $ 675,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 430,000 Total stockholders' equity $ 1,175,000 During 2019, the company has the transactions including the following.
Jan. 2 Purchased 6,000 shares of its own stock at $20 cash per share.
Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record.
Feb. 28 Paid the dividend declared on January 5.
July 6 Sold 2,250 of its treasury shares at $24 cash per share.
Aug. 22 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Sept 5 Sold 3,750 of its treasury shares at $17 cash per share.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31 Closed the $368,000 debit balance (from net loss) in the Income Summary account to Retained Earnings.
Required:
1. Prepare journal entries to record each of these transactions.
2. Prepare a statement of retained earnings for the year ended December 31, 2019.
3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.
Answer:
Whisper Co.
1. Journal Entries to record transactions:
Jan. 2 Debit Treasury stock $90,000
Debit Paid-in Capital in Excess $30,000
Credit Cash $120,000
To record the purchase of 6,000 shares of its own stock at $20 cash per share.
Jan. 5 Debit Cash Dividend $78,000
Credit Dividend Payable $78,000
To record the declaration of a $2 per share cash dividend payable on 39,000 (45,000 - 6,000) shares
Feb. 28 Debit Dividend Payable $78,000
Credit Cash $78,000
To record the payment of the dividends.
July 6 Debit Cash $54,000
Credit Treasury stock $33,750
Credit Paid-in Capital in Excess $20,250
To record the resale of 2,250 of its treasury shares at $24 cash per share.
Aug. 22 Debit Cash Dividend $90,000
Credit Dividend Payable $90,000
To record the declaration of a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record (45,000 shares).
Sept 5 Debit Cash $63,750
Credit Treasury stock $56,250
Credit Paid-in Capital in Excess $7,500
To record the resale of 3,750 of its treasury shares at $17 cash per share.
Oct. 28 Debit Dividend Payable $90,000
Credit Cash $90,000
To record the payment of the dividends.
Dec. 31 Debit Retained earnings $368,000
Credit Income Summary $368,000
To close the net loss to the retained earnings.
2. Statement of Retained Earnings for the year ended December 31, 2019
Retained earnings, December 31, 2018 $430,000
Net loss -368,000
Dividends paid -168,000
Retained earnings, December 31, 2019 ($106,000)
3. Stockholders' Equity, December 31, 2019:
Common stock—$15 par value, 100,000 shares authorized,
45,000 shares issued and outstanding $ 675,000
Paid-in capital in excess of par value, common stock 67,750
Retained earnings ($106,000)
Total stockholders' equity $ 636,750
Explanation:
a) Data and Calculations:
Stockholders' Equity (December 31, 2018)
Common stock—$15 par value, 100,000 shares authorized,
45,000 shares issued and outstanding $ 675,000
Paid-in capital in excess of par value, common stock 70,000-30,000+20,250+7,500 = 67,750
Retained earnings 430,000
Total stockholders' equity $ 1,175,000
Transaction Analysis:
Jan. 2 Treasury stock $90,000 Paid-in Capital in Excess $30,000 Cash $120,000 purchase of 6,000 shares of its own stock at $20 cash per share.
Jan. 5 Cash Dividend $78,000 Dividend Payable $78,000
a $2 per share cash dividend payable on 39,000 (45,000 - 6,000) shares
Feb. 28 Dividend Payable $78,000 Cash $78,000
July 6 Cash $54,000 Treasury stock $33,750 Paid-in Capital in Excess $20,250 2,250 of its treasury shares at $24 cash per share.
Aug. 22 Cash Dividend $90,000 Dividend Payable $90,000
$2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Sept 5 Cash $63,750 Treasury stock $56,250 Paid-in Capital in Excess $7,500 3,750 of its treasury shares at $17 cash per share.
Oct. 28 Dividend Payable $90,000 Cash $90,000
Dec. 31 Retained earnings $368,000 Income Summary $368,000
Dec. 31 Retained earnings $168,000 Cash Dividend $168,000
Melissa is a crafting machine! She has used this time in quarantine to finesses her skills and has decided to open up a booth at the Groove Street Farmers Market (Monday’s 4-7pm). She does this for fun but before making her next batch of inventory wants to know which products, she should make to maximize her profit. She makes soaps and candles. The soap sells for $18 and the candles sell for $25. The soap requires coconut oil (2 tablespoons), essential oil (5 drops), and soap base (1 per item). The candles require coconut oil (3 tablespoons), essential oil (8 drops), and wax (1 per item). Coconut oil is $12 a jar and contains 112 tablespoons. Essential oils are $50 a container and contains 150 drops. A soap base is 2$ and a wax base is $2.25. Melissa currently has 3 jars of coconut oil, 2.5 bottles of essential oil, 25 soap bases, and 25 wax bases. If Melissa wants to maximize her profit how many soaps and candles should she make for her next both?
Answer:
The maximum profit of $847.03 occurs when Melissa produces 25 soaps and 25 candles.
Explanation:
The linear programming equations forms as follows:
Cost of producing 1 Soap=Cost of Soap Base+Cost of Coconut Oil+Cost of Essential Oil
Cost of Soap base is $2.
Cost of Coconut Oil for one soap is [tex]\$\dfrac{2}{112}\times12[/tex].
Cost of Essential Oil for one soap is [tex]\$\dfrac{5}{150}\times50[/tex]
So the total cost of 1 soap is
[tex]\text{Cost of producing 1 Soap}=\$2+\$\dfrac{2}{112}\times12+\$\dfrac{5}{150}\times50\\\text{Cost of producing 1 Soap}=\$2+\$0.21428+\$1.6666\\\text{Cost of producing 1 Soap}=\$3.8808[/tex]
So the cost of producing one bar of soap is 3.8808
So the profit per soap is
[tex]\text{Profit}=\text{Selling Price}-\text{Cost}[/tex]
Here selling price is $18 for soap so
[tex]\text{Profit}=\text{Selling Price}-\text{Cost}\\\text{Profit}=\$18-\$3.8808\\\text{Profit}=\$14.1192[/tex]
Profit per soap is $14.1192.
Similarly the cost of producing 1 candle is as follows:
Cost of producing 1 Candle=Cost of Wax Base+Cost of Coconut Oil+Cost of Essential Oil
Cost of Wax base is $2.25.
Cost of Coconut Oil for one candle is [tex]\$\dfrac{3}{112}\times12[/tex].
Cost of Essential Oil for one candle is [tex]\$\dfrac{8}{150}\times50[/tex]
So the total cost of 1 candle is
[tex]\text{Cost of producing 1 Candle}=\$2.25+\$\dfrac{3}{112}\times12+\$\dfrac{8}{150}\times50\\\text{Cost of producing 1 Candle}=\$2.25+\$0.32142+\$2.6666\\\text{Cost of producing 1 Candle}=\$5.2380[/tex]
So the cost of producing one candle is $35.2380
So the profit per candle is
[tex]\text{Profit}=\text{Selling Price}-\text{Cost}[/tex]
Here selling price is $25 for a candle so
[tex]\text{Profit}=\text{Selling Price}-\text{Cost}\\\text{Profit}=\$25-\$5.2380\\\text{Profit}=\$19.7620[/tex]
Profit per candle is $19.7620.
If the number of soaps produced is X and the number of candles produced is Y then the maximization function of profit is given as
[tex]Z=f(X,Y)=14.1192X+19.7620Y[/tex]
Also the constraints are given as follows:
If Melissa has 3 jars of coconut oil and each jar has 112 tablespoons thus the total tablespoons Melissa has are 336. If 2 tablespoon coconut oil is used for 1 soap and 3 tablespoons are used for 1 candle thus
[tex]2X+3Y\leq336[/tex]
Similarly, Melissa has 2.5 containers of essential oil and each container has 150 drops thus the total drops Melissa has are 375. If 5 drops of essential oil are used for 1 soap and 8 drops are used for 1 candle thus
[tex]5X+8Y\leq375[/tex]
For the soap bases, each soap uses 1 soap bases and total soap bases are 25 thus
[tex]X\leq25[/tex]
Similarly, for the wax base, each candle uses 1 wax base, and the total wax bases are 25 thus.
[tex]Y\leq25[/tex]
So the linear programming model becomes
[tex]2X+3Y\leq336\\5X+8Y\leq375\\X\leq25\\Y\leq25[/tex]
with maximization of
[tex]Z=f(X,Y)=14.1192X+19.7620Y[/tex]
Now solving this using the graphical method of linear programming as attached gives:
The maximum profit of 847.03 occur when Melissa produces 25 soaps and 25 candles.
Speed World Cycles sells high-performance motorcycles and motocross racers. One of Speed World’s most popular models is the Kazomma 900 dirt bike. During the current year, Speed World Cycles purchased eight of these bikes at the following costs.
Purchase Date Units Purchased Unit Cost Total Cost
July 1 2 $ 4,950 $ 9,900
July 22 3 5,000 15,000
Aug. 3 3 5,100 15,300
8 $ 40,200
On July 28, Speed World Cycles sold four Kazomma 900 dirt bikes to the Vince Wilson racing team. The remaining four bikes remained in inventory at September 30, the end of Speed World’s fiscal year.
Assume that Speed World Cycles uses a perpetual inventory system. (See the data provided.)
Required:
a-1. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using Average cost.
a-2. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using FIFO method.
a-3. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using LIFO method.
b-1. Which of the three cost flow assumptions will result in Speed World Cycles reporting the highest net income for the current year?
b-2. Which of the three cost flow assumptions minimizes the income taxes owed by Speed World Cycles for the year?
b-3. May Speed World Cycles use the cost flow assumption that results in the highest net income for the current year in its financial statements, but use the cost flow assumption that minimizes taxable income for the current year in its income tax return?
Answer:
Speed World Cycles
a. Average Cost FIFO LIFO
Cost of goods sold $20,100 $19,900 $20,300
Ending inventory $20,100 $20,300 $19,900
b-1. FIFO will result in Speed World Cycles reporting the highest net income for the current year, because of the reduced cost of goods sold.
b-2. LIFO minimizes the income taxes owed by Speed World Cycles for the year, because it reduces the income before taxes.
b-3. Yes. However, the cost flow assumptions self-correct in later years, by which time it is not allowed to be jumping from one cost flow assumption to another.
Explanation:
a) Data and Calculations:
Purchase Date Units Purchased Unit Cost Total Cost
July 1 2 $ 4,950 $ 9,900
July 22 3 5,000 15,000
Aug. 3 3 5,100 15,300
Total 8 $ 40,200
July 28 Sold 4
September 30 4 (8 - 4)
Average cost = $40,200/8 = $5,025
a-1. Cost of goods sold = $20,100 (4 * $5,025)
Ending inventory = $20,100 (4 * $5,025)
a-2. FIFO:
Ending inventory = $20,300 (3 * $5,100 + 1 * $5,000)
Cost of goods sold = Cost of goods available minus cost of ending inventory
= $40,200 - $20,300
= $19,900
a-3 LIFO:
Cost of goods sold = $20,300 (3 * $5,100 + 1 * $5,000)
Ending inventory = Cost of goods available minus cost of goods sold
= = $40,200 - $20,300
= $19,900
Trainor Corporation purchased equipment on January 1, 2020 at a cost of $500,000. The equipment has an estimated residual value of $50,000 and an estimated life of 5 years. At the end of two years, Trainor reevaluated the useful life of the equipment. Management extended the total useful life an additional 5 years but estimated that the equipment would have no residual value at the end of this time. If the company uses straight-line depreciation, what amount would be recorded as depreciation expense each year, beginning with the third year
Answer:
Depreciation per year $40,000
Explanation:
The computation of the depreciation expense each year, beginning with the third year is shown below:
Purchase cost $500,000
Less residual value -$50,000
Depreciable cost $450,000
Depreciation per year $90,000 ($450,000 ÷ 5 years)
For two years, the depreciation is $180,000
Book value at the end of the 2nd year is $320,000
($500,000 - $180,000)
Depreciation per year $40,000 ($320,000 ÷ 8 years)
Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Now Ralph wants to rescind his promise to Ed. Will Judy be required to give her daughter, Liza, the tract of land on which she has started to build, and will Ralph be required to give his son, Ed $25,000 to purchase a tract of land. Can Ralph rescind his promise?
Answer:
(a) Yes, Judy will be required to give her daughter, Liza, the tract of land on which she has started to build. Therefore, Judy cannot rescind his promise to Liza.
(b) No, Ralph will NOT be required to give his son, Ed $25,000 to purchase a tract of land. Therefore, Ralph can rescind his promise.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
(a) Judy orally promises her daughter, Liza, that she will give her a tract of land for her home. Liza, as intended by Judy, gives up her homestead and takes possession of the land. Liza lives there for six months and starts construction of a home. Now Judy wants to rescind his promise to Liza.
(b) Ralph, knowing that his son, Ed, desires to purchase a tract of land, promises to give him the $25,000 he needs for the purchase. Ed, relying on this promise, buys an option on the tract of land. Now Ralph wants to rescind his promise to Ed.
Will Judy be required to give her daughter, Liza, the tract of land on which she has started to build, and will Ralph be required to give his son, Ed $25,000 to purchase a tract of land. Can Ralph rescind his promise?
Explanation of the answers is now provided as follows:
Each of the two cases will be decided based on the principle promissory estoppel.
Promissory estoppel refers to the legal principle that states that despite that there us formal consideration attached to a promise, it is still enforceable by law if the promise from the promisor makes the promisee to rely on the promise to his subsequent detriment.
(a) Will Judy be required to give her daughter, Liza, the tract of land on which she has started to build?
Yes, Judy will be required to give her daughter, Liza, the tract of land on which she has started to build.
The is because Liza has relied on the promise from Judy to her subsequent detriment by giving up her up her homestead and already starts construction of a home. Since the Judy promise from Judy induces the action of Liza that is reasonably expected by Judy, he cannot rescind his promise to Liza.
(b) Will Ralph be required to give his son, Ed $25,000 to purchase a tract of land. Can Ralph rescind his promise?
No, Ralph will NOT be required to give his son, Ed $25,000 to purchase a tract of land.
This is because there is Ed has not taken any definite and substantial action to justify that he has relied on the promise from Ralph to his subsequent detriment. It may not be possible to construe the purchase of an option on the tract of land by Ed as a definite and substantial action. Therefore, Ralph can rescind his promise.
Marigold Corp. purchased a new machine on May 1, 2012 for $558000. At the time of acquisition, the machine was estimated to have a useful life of ten years and an estimated salvage value of $22800. The company has recorded monthly depreciation using the straight-line method. On March 1, 2021, the machine was sold for $71400. What should be the loss recognized from the sale of the machine
Answer:
$18,300 loss
Explanation:
Profit or Loss on sale of an asset is calculated in the asset`s disposal account. Simply stated, Profit or Loss on sale is Cash Receipt from sale less Carrying Amount of an asset.
where,
Accumulated depreciation = $428,160 + 40,140 = $468,300
Carrying Amount = $558000 - $468,300 = $89,700
therefore
Profit or Loss on sale = $71400 - $89,700 = $18,300 loss
Excel Online Structured Activity: Capital budgeting criteria A company has a 11% WACC and is considering two mutually exclusive investments (that cannot be repeated) with the following cash flows:
0 1 2 3 4 5 6 7
Project A -$300 -$387 -$193 -$100 $600 $600 $850 -$180
Project B -$405 $132 $132 $132 $132 $132 $132 $0
The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.
1. What is each project's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.
2. What is each project's IRR? Round your answer to two decimal places
3. What is each project's MIRR?
Answer:
ion the answer do u have options ?
Explanation:
During a(n) _____ interview, all applicants will be asked the exact same questions.
structured
open
inquiry
behavioral
Answer:
structured is the correct answer.
Explanation:
on edge.
A foreign branch bank operates like a local bank, but legally Group of answer choices a branch bank is subject to only the banking regulations of its home country and not the country in which it operates. it is a part of the parent bank. a branch bank is subject to both the banking regulations of its home country and the country in which it operates. it is a part of the parent bank, and a branch bank is subject to both the banking regulations of its home country and the country in which it operates.
Answer:
Foreign branch
This is usually refered to as legal and operational section (part)of the parent bank. It is said that creditors of the branch have full legal rights on the bank's assets in all and also creditors of the parent bank have hold/claims on its branches' assets.
A foreign branch bank operates like a local bank, but is legally part of the the parent.
A branch bank is subject to both the banking regulations of home country and the country in which it operates (foreign country)
Explanation:
Foreign Branches
A foreign branch bank is a branch of a bank in other country. It usually operates like a local bank even though they are a section or part of the the parent legally. Thehy abide by the rules and regulations of the banking regulations of home country and also that of foreign country which their operating is based (branched)
They are commonly known to give a wide and broad range of services than a representative office. Branch Banks are used by U.S. banks to expand overseas.
Which type of interview presents the interviewee with a project which the interviewee must create and carry out a plan for?
Select the best answer choice:
A.
Behavioral interview
B.
Informational interview
C.
Case interview
D.
Panel interview
Answer:C
Explanation:
A behavioral interview is obviously based on behavior.
A informational interview is where you have to know more.
A case interview is where you basically work as an employee to see how you can manage or do the job.
A panel interview is where there’s many interviewers and one candidate
An investment firm recommends that a client invest in bonds rated AAA, A, and B. The average yield on AAA bonds is %, on A bonds %, and on B bonds %. The client wants to invest twice as much in AAA bonds as in B bonds. How much should be invested in each type of bond if the total investment is $, and the investor wants an annual return of $ on the three investments.
Answer:
The investor should invest $4,000 in AAA bonds, $3,000 in A bonds, and $2,000 in B bonds.
Explanation:
Note: This question is not complete as all the data in it are omitted. The complete question with the omitted is therefore presented before answering the question as follows:
An investment firm recommends that a client invest in bonds rated AAA, A, and B. The average yield on AAA bonds is 5%, on A bonds 6%, and on B bonds 9%. The client wants to invest twice as much in AAA bonds as in B bonds. How much should be invested in each type of bond under the following conditions? How much should be invested in each type of bond if the total investment is $9,000, and the investor wants an annual return of $560 on the three investments.
The explanation of the answer is now given as follows:
From the question, we have:
AAA = 2B
Total investment is therefore as follows:
2B + A + B = $9,000
3B + A = $9,000 …………………………. (1)
Annual return is also as follows:
(5% * 2B) + (6% * A) + (9% * B) = $560
0.1B + 0.06A + 0.09B = $560
0.1B + 0.09B + 0.06A = $560
0.19B + 0.06A = $560 …………………. (2)
From equation (1), we have:
A = $9,000 – 3B …………………………. (3)
Substituting A from equation (3) into equation (2), we have:
0.19B + 0.06($9,000 – 3B) = $560
0.19B + 540 – 0.18B = $560
0.19B – 0.18B = $560 - $540
0.01B = $20
B = $20 / 0.01
B = $2,000
Since:
AAA = 2B
Therefore, we have:
AAA = 2 * $2,000
AAA = $4,000
Substituting B = $2,000 into equation (3), we have:
A = $9,000 – (3 * $2,000)
A = $9,000 - $6,000
A = $3,000
By implication, we have total investment as follows:
AAA + A + B = $4,000 + $3,000 + $2,000 = $9,000
Therefore, the investor should invest $4,000 in AAA bonds, $3,000 in A bonds, and $2,000 in B bonds.
Masterson, Inc., has 4.4 million shares of common stock outstanding. The current share price is $89.50, and the book value per share is $11.25. The company also has two bond issues outstanding. The first bond issue has a face value of $81 million, a coupon rate of 5.1%, and sells for 96.5% of par. The second issue has a face value of $53 million, a coupon rate of 5.8%, and sells for 106.5% of par. The first issue matures in 25 years, the second in 9 years. The most recent dividend was $4.28 and the dividend growth rate is 5.3%. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semi-annual payments. The tax rate is 21%.
a. What are the company's capital structure weights on a book value basis?
b. What are the company's capital structure weights on a market value basis?
c. Which are more relevant, the book or market value weights?
Answer:
Masterson, Inc.
1. The company's capital structure weights on a book value basis are:
Book Value Weights:
Equity = 0.27 or 27%
Debts = 0.73 0r 73%
2. The company's capital structure weights on market value basis are:
Market Value Weights:
Equity = 0.75 or 75%
Debts = 0.25 or 25%
3. The market value weights of Masterson's common stock and debts are more relevant because they represent a more current valuation of the equity and the debts. It is easier to calculate the book value weights since the information is more readily available within the entity than the information on market weights.
Explanation:
a) Data and Calculations:
Equity Units Total Value
Outstanding common stock 4.4 million shares
Current share price $89.50 $393.8 million
Book value per share $11.25 $49.5 million
Debt Units Total Value
First bond:
Face value 81,000 $81 million
Market value 81,000 $78.165 million
Coupon rate = 5.1% $4.131 million p.a.
Second bond:
Face value 53,000 $53 million
Market value 53,000 $54.445 million
Coupon rate = 5.3% $2,809 million p.a.
Total book value of bonds 134,000 $134 million
Total market value of bonds 134,000 $132.61 million
Capital structure Equity Bonds Total
Book value $49.5 million $134 million $183.5 million
Market value $393.8 million $132.61 million $526.41 million
Book Value Weights:
Equity = $49.5/$183.5 = 0.27 or 27%
Debts = $134/$183.5 = 0.73 0r 73%
Market Value Weights:
Equity = $393.8/$526.41 = 0.75 or 75%
Debts = $132.61/$526.41 = 0.25 or 25%
Snowy Mountain Financial Advisors is a network of branches providing investing and financial advising services. It discloses that it uses a balanced scorecard with the following six performance measures.
Required:
Link the measures to the perspective number(s) of the balanced scorecard.
Perspective
1. Financial
2. Customer
3. Learning and growth
4. Internal business processed
Procedure Measure Prespective number
Market share
Regulatory compliance
New cutomer refresh from existing customer
Order errors
Brach profit
Answer:
Financial : market share and Branch profit Customer : New customer referrals from existing customer Learning and Growth : Not available on the score card Internal business processed : Regulatory compliance, Order errorsExplanation:
Linking the measures to the perspective number(s) of the balanced scorecard
Financial : market share and Branch profit Customer : New customer referrals from existing customer Learning and Growth : Not available on the score card Internal business processed : Regulatory compliance, Order errorsThe Market share is simply a portion of the general market that is been controlled by a product or organization
New customer referrals form existing customers is one way a company can get new and returning customers to patronize them
Regulatory compliance and order errors is been handled by the management of the business
A group of young patrons come into the venue after a sports event. They are loud and excited, celebrating a win for their team. Some of the patrons seem as though they have already been drinking, and the other patrons in the venue have noticed this group. A) How do you respond to these patrons? Issue the group with a warning to make sure they know the type of behaviour that the venue expects. B) One of the patrons comes to the bar to order a few jugs of pre-mix alcoholic drinks for the group. Refuse service to the patron and explain why serving alcohol in this manner is irresponsible. C) The patron is not happy that you have refused him service and he pressures you to serve the group the jugs of alcohol. More of the patron’s friends come over to the bar and start to make a scene, talking loudly for the rest of the venue to hear. D) How do you respond to this? E) After you ask some of the patrons to leave the venue, others from the group start to get upset. They are getting more aggressive and you do not think you can handle the situation on your own. How do you respond to this?
Answer:
The following is how I would deal with the issue of drinking and other associated issues among the Patron in the venue.
A) How do you respond to these patrons?
O. Issue the group with a warning to make sure they know the type of behaviour that the venue expects.
B) One of the patrons comes to the bar to order a few jugs of pre-mix alcoholic drinks for the group. Refuse service to the patron and explain why serving alcohol in this manner is irresponsible.
O. I would refuse to serve the group with the mix which they wanted because they are already drunk going by their behaviour. This would also help to prevent total intoxication in the group which would end up endangering the road users should they decide to go home by driving. The best option would be to ensure that, they took taxi back to their various homes rather than driving themselves.
C) The patron is not happy that you have refused him service and he pressures you to serve the group the jugs of alcohol. More of the patron’s friends ........D) How do you respond to this?
O. By subtle reminder to them that, they are becoming a public nuisance in the venue, and would end up calling the police should the continue with their acts.
E) After you ask some of the patrons to leave the venue, others from the group start to get upset. They are getting more aggressive and you do not think you can handle the situation on your own. How do you respond to this?
O. By informing my overall supervisor why at same time putting a call across to the police about the potential breakdown of order in the venue which has a very high chance of leading to fight or injury.
Explanation:
On September 1, Best Company began a contract to provide services to Dildwood Company for six months, with the total $10,800 payment to be made at the end of the six-month period. Equal services are provided each month. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. What proper adjusting entry would Best Company make on October 31, the end of the accounting period (no previous adjustment has been made)
Answer and Explanation:
The journal entry is shown below;
Fees receivable $7,200 ($10,800 × 4 months ÷ 6 months)
To Service fees earned $7,200
(being service fees earned is recorded)
Here the fees receivable is debited as it increased the assets and credited the service fees earned as it also increased the revenue
So, this journal entry should be recorded
Which is NOT a reason companies integrate horizontally?
A To expand internationally.
B Tobe in control of the resources used in the production process.
C To expand brand equity across new product lines.
D To increase production capacity.
One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to bed at 9:00 p.m. Three fundraisers, Alpha, Beta, and Charlie, have targeted Milltown's population. To get a donation, they must call Milltown's residents after they get home from work but before they go to bed. Because the charities raising the funds are identical, the first to call a willing donor will get the donation. Beta's manager has decided that the best time to call is 7:00 p.m. because it is exactly halfway between 5:00 p.m. and bedtime. Which of the following is true?
a. Alpha and Charlie will also make calls at 7:00 p.m.
b. Beta's manager did not choose wisely.
c. Alpha and Charlie will divide up the rest of the market, with one choosing to call at 6:00 p.m. and the other at 8:00 p.m.
d. Beta is certain to generate the most donations.
Answer:
b. Beta's manager did not choose wisely.
Explanation:
If you know that you are competing with identical charities, calling later will only result in fewer donations. The calls should start at 5 PM, and probably the three fundraisers will start calling at the same time. The only advantage that they can have depends on reaching the adults first, so the time of the calls is important.
Golf Ball Inc. expects earnings to be $10,000 per year in perpetuity if it pays out all of its earnings in dividends. Suppose the firm has an opportunity to invest $1,000 of next year's earnings to upgrade its machinery. It is expected that this upgrade will increase earnings in all future years (starting two years from now) by $140. Assume that Golf Ball's next dividend is one year from now. The required rate of return is 12%.
What is the value of Golf Ball Inc. if it undertakes the upgrade?
Answer: $ 83,333.33
Explanation:
Based on the information given, the value of Golf Ball Inc. if it undertakes the upgrade will be:
It should be noted that the earning will be distributed as dividend if there's no upgrade. Hence, dividend will be $10000.
Since the required rate of return is 12%, then the value of Golf Ball Inc. if it undertakes the upgrade will be:
= Dividend / required rate of return
= 10000 / 12 %
= 10000 / 0.12
= $ 83,333.33
Help
1. Please mention the relationship between demand and supply
2. Please use at least one demand and supply curve
3. Please mention the change for demand and supply curve
Answer:
1.It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
2.Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy.
3.A demand curve shows the relationship between quantity demanded and price in a given market on a graph. ... A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied.
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.
2013 2014 2015
Sales revenue $294,170 $ $414,180
Sales returns and allowances 11,200 13,470
Net sales 347,350
Beginning inventory 21,590 33,560
Ending inventory
Purchases 263,090 298,600
Purchase returns and allowances 5,180 8,330 10,440
Freight-in 8,140 9,480 12,440
Cost of goods sold 236,230 294,740
Gross profit on sales 46,740 91,560 98,700
Answer:
Income Statements
2013 2014 2015
Sales revenue $294,170 $360,920 $414,180
Sales returns and allowances 11,200 13,470 20,740
Net sales 282,970 347,350 393,440
Beginning inventory 21,590 33,560 42,010
Purchases 245,240 263,090 298,600
Purchase returns and allowances (5,180) (8,330) (10,440)
Freight-in 8,140 9,480 12,440
Total cost of goods available 269,790 297,800 342,610
Ending inventory 33,560 42,010 47,870
Cost of goods sold 236,230 255,790 294,740
Gross profit on sales 46,740 91,560 98,700
Explanation:
a) Data and Calculations:
2013 2014 2015
Sales revenue $294,170 $ $414,180
Sales returns and allowances 11,200 13,470
Net sales 347,350
Beginning inventory 21,590 33,560
Ending inventory
Purchases 263,090 298,600
Purchase returns and allowances 5,180 8,330 10,440
Freight-in 8,140 9,480 12,440
Cost of goods sold 236,230 294,740
Gross profit on sales 46,740 91,560 98,700
Beginning inventory 21,590 33,560 42,010
Purchases 245,240 263,090 298,600
Purchase returns and allowances (5,180) (8,330) (10,440)
Freight-in 8,140 9,480 12,440
Total cost of goods available 269,790 297,800 342,610
Ending inventory 33,560 42,010 47,870
Cost of goods sold 236,230 255,790 294,740
The following graph compares the greenhouse gas emissions from different forms of electricity production.
A bar graph of C O 2 equivalent emissions for full energy chain in grams per kilowatt hour lists the minimum and maximum values for the following sources: Coal, 860, 1290; Oil; 689, 890; Gas, 460, 1234; Hydro, 16, 410; Nuclear, 9, 30; wind, 11, 75; Solar P V, 30, 279; and Biomass, 37, 116.
Which conclusion is supported by the information in the graph?
Nuclear power releases less greenhouse gases than other forms of power.
Nuclear power releases an average amount of greenhouse gases.
Nuclear power releases no greenhouse gases.
Nuclear power releases more greenhouse gases than other forms of power.
Answer:
A.Nuclear power releases less greenhouse gases than other forms of power.
Explanation:
correct on edge
Nuclear power releases fewer greenhouse gases than other forms of power is supported by the information in the graph. Thus, option A is correct.
What is electricity production?The oxidation-reduction reactions in MFCs produce electrical energy as the consequence of the release, movement, and reception of electrons from biological processes. comparable emissions across the entire energy chain
The cheapest and greatest values are shown in a graph with bars of the C O 2 comparable emissions for the entire energy chain in grams per kilowatt hour.
That's because nuclear reactors harness fission, an anatomical procedure that separates uranium atoms and produces heat, to make tremendous quantities of energy. Compared to other kinds of energy, nuclear power emits fewer greenhouse emissions.
Therefore, option A is correct.
Learn more about electricity production, here:
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49. Marcy Company declared a 100% common stock dividend on January 1, 2005, when the market price of the stock was $7.50. The entry to record this dividend will: A) debit Retained Earnings,$100,000 B) credit Common Stock Dividend Distributable,$50,000 C) credit Contributed Capital in excess of par, Common Stock, $25,000 D) credit Common Stock Dividend Distributable, $100,000 E) Since this is considered a stock split, no journal entry is made
Answer:
C) credit Contributed Capital in excess of par, Common Stock, $25,000
Explanation:
Missing word "Preferred Stock - 6% cumulative, $20 par value, 10,000 shares authorized, 5,000 shares issued and outstanding . .$100,000. Contributed Capital in excess of par value, Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 250,000. Common Stock, $5 par value, 20,000 shares authorized, 10,000 shares issued and outstanding. . . . . . . . . . . . . . . . . 50,000. Contributed Capital in excess of par value, Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 450,000. Total Contributed Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 850,000. Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150,000. Total Stockholders' Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,000,000"
The journal entry to record the stock dividend will be:
Date Account Titles Debit Credit
Retained earnings $75,000
(10000*7.50*100%)
Common stock dividends distributable $50,000
(10000*100%*$5)
Contributed Capital in excess of par value, $25,000
Common Stock (10000*100%*(7.5-5))
In its most recent annual report, Appalachian Beverages reported current assets of $54,000 and a current ratio of 1.80. Assume that the following transactions were completed: (1) purchased merchandise for $6,000 on account, and (2) purchased a delivery truck for $10,000, paying $1,000 cash and signing a two-year promissory note for the balance.
Compute the updated current ratio (round answers to 2 decimal places)
Transaction (1) ________________
Transaction (2) ________________
Answer:
Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67
Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64
Explanation:
The current ratio is a measure of liquidity which measures the amount of current assets a business has to pay off each $1 of current liability. It is calculated as follows,
Current Ratio = Current Assets / Current Liabilities
We know the initial current ratio and current assets. The initial current liabilities will be,
1.8 = 54000 / Current Liabilities
Current Liabilities = 54000 / 1.8
Current Liabilities = $30000
Transaction 1
The result of transaction 1 will be that the current assets will increase by $6000 as inventory increases and the current liabilities will also increase by $6000 as accounts payable are increasing. The new current ratio will be,
Current Ratio - Transaction 1 = (54000 + 6000) / (30000 + 6000)
Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67
Transaction 2
The result of transaction 2 will be that the current assets will decrease by $1000 as payment for truck which is a fixed asset is made partly by cash and the current liabilities will not increase as the note signed for the remaining payment of the truck is due after 2 years thus it is a non current liability. The new current ratio will be,
Current Ratio - Transaction 2 = (54000 + 6000 -1000) / (30000 + 6000)
Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64
Machinery purchased for $69,600 by Tamarisk Co. in 2016 was originally estimated to have a life of 8 years with a salvage value of $4,640 at the end of that time. Depreciation has been entered for 5 years on this basis. In 2021, it is determined that the total estimated life should be 10 years with a salvage value of $5,220 at the end of that time. Assume straight-line depreciation.
Prepare the entry to correct the prior years' depreciation, if necessary.
Prepare the entry to record depreciation for 2021.
Answer and Explanation:
The journal entries are shown below:
a. No journal entry is required
b. Depreciation expense $4,756
To Accumulated depreciation-Machinery $4,756
(Being depreciation expense is recorded)
Here the depreciation expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets
Working
Accumulated depreciation is
= ($69,600 - $4,640 ÷ 8 × 5)
= $40,600
Now Revised depreciation is
= ($69,600 - $40,600 - $5,220) ÷ 5
= $4,756
g Earnings per share Financial statement data for the years 20Y5 and 20Y6 for Black Bull Inc. follow: 20Y5 20Y6 Net income $1,687,000 $2,632,000 Preferred dividends $40,000 $40,000 Average number of common shares outstanding 90,000 shares 120,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 20Y5 20Y6 Earnings per Share $fill in the blank 1 $fill in the blank 2 b. Is the change in the earnings per share from 20Y5 to 20Y6 favorable or unfavorable
Answer:
a) EPS
2005 Earnings per share=$18.3
2005 Earnings per share=$21.6
b) EPS Variance = $3.3 favorable
Explanation:
Earnings per share(EPS) is the total earnings attributable to ordinary shareholders divided by the number of units of common stock
Earnings attributable to ordinary shareholders= Net income after tax - preference dividend
Earnings per share = (Net income after tax - preference dividend)/Number of shares
2005 Earnings per share = $1,687,000- $40,000/90,000 shares=$18.3
2006 Earnings per share=($2,632,000- $40,000)/120,000 shares=$21.6
2005 Earnings per share=$18.3
2006 Earnings per share=$21.6
EPS Variance
Comparing the EPS the Earning per share in 2006 is higher than that of 2005. Hence, the variance = 21.6-18.3= $3.3 favorable
EPS Variance = $3.3 favorable
Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.
Feb. 1 Issued 48,000 shares for cash at $52 per share.
July 1 Issued 66,000 shares for cash at $56 per share.
Required:
Journalize the transactions.
Answer:
Feb. 1
Debit : Cash (48,000 x $52) $2,496,000
Credit : Preferred Stock (48,000 x $50) $2,400,000
Credit : Paid in excess of Par - Preferred Stock $96,000
July 1
Debit : Cash (66,000 x $56) $3,696,000
Credit : Preferred Stock (66,000 x $50) $3,300,000
Credit : Paid in excess of Par - Preferred Stock $396,000
Explanation:
With Par value stocks, any amount paid in excess of par is placed in a reserve - Paid in Excess of Par as shown in the journals above.
The Kelsh Company has two divisions--North and South. The divisions have the following revenues and expenses:
North South
Sales $900,000 $800,000
Variable expenses 450,000 300,000
Traceable fixed expenses 260,000 210,000
Allocated common corporate expenses 240,000 190,000
Net operating income (loss) ($50,000) $100,000
Management at Kelsh is pondering the elimination of the North Division. If the North Division were eliminated, its traceable fixed expenses could be avoided. The total common corporate expenses would be unaffected.
Given this data, the elimination of the North Division would result in an overall company operating income of:
a. 50,000
b. 150,000
c. (140,000)
d. 100,000
Answer:
c. (140,000)
Explanation:
Effect on net income of dropping the North Division:
Sales $(900,000)
Variable expenses $450,000
Contribution margin $(450,000)
Traceable fixed expenses $260,000
Effect on net income ($190,000)
Since the North Division currently have Net operating income (loss) of ($50,000), so therefore, after dropping the North Division, the overall company net operating loss will be $140,000 ($50,000 - $190,000).
Sam's Dog toys sells a Red toy and a Blue toy. The contribution margin for the Red toy is $5 and for the Blue toy is $10. The expected sales mix is 60% for Red toy and 40% for Blue toy. The total fixed costs amount to $3,000 and the company desires to earn a profit of $500. What is the sale volume in units necessary to reach the desired profit
Answer:
500 units
Explanation:
The computation of the sales units in volume to achieve the desired profit is shown below:
= (Fixed cost + target profit) ÷ (contribution margin per unit)
= ($3,000 + $500) ÷ ($5 × 60% + $10 × 40%)
= $3,500 ÷ 7
= 500 units
Hence, the sales units in volume to achieve the desired profit is 500 units
The above formula should be applied to determine the sales units
hence, the same would be considered
Mackenzie Company has a price of $38 and will issue a dividend of $ 2.00 next year. It has a beta of 1.3, the risk-free rate is 5.2%, and the market risk premium is estimated to be 4.9%. a. Estimate the equity cost of capital for Mackenzie. b. Under the CGDM, at what rate do you need to expect Mackenzie's dividends to grow to get the same equity cost of capital as in part (a)?
Answer and Explanation:
a. The computation of the equity cost of capital is shown below:
As we know that
Expected rate of return = Risk free rate + Risk Premium × Beta
= 5.20% + 4.90% × 1.30
= 11.57%
b. Now the rate at which the dividend should be grow is
Value of the stock = Expected dividend ÷ (cost of equity - growth rate)
$38 = $2 ÷ (11.57% - growth rate)
so, the growth rate is 6.31%