1. Total cost of goods available for sale = $6,000 + $10,500 + $8,800 = $25,300.
2. Ending inventory to be reported on the balance sheet is zero.
3. Cost of goods sold to be reported on the income statement is $25,300.
4. The bond issue price is $213,800.
1. Cost of goods available for sale:
Beginning inventory: 300 units x $20/unit = $6,000
Purchase on Feb. 1: 500 units x $21/unit = $10,500
Purchase on May 15: 400 units x $22/unit = $8,800
2. Ending inventory to be reported on the balance sheet:
Units remaining after the March 15 sale = 300 - 400 = -100 (negative indicates a shortage)
Units remaining after the July 31 sale = -100 - 500 = -600
Since the ending inventory cannot be negative, it is considered zero.
3. Cost of goods sold to be reported on the income statement:
Cost of goods sold = Cost of goods available for sale - Ending inventory
Cost of goods sold = $25,300 - $0 = $25,300
4. Bond issue price calculation:
To calculate the bond issue price, we need to find the present value of the future cash flows. The bond pays cash interest annually, so there will be three interest payments of $1,000,000 x 8% = $80,000 each. The market rate of interest is 6%.
Using the present value of an ordinary annuity formula:
PV = C x (1 - (1 + r)^(-n)) / r
Where PV is the present value, C is the cash flow per period, r is the discount rate, and n is the number of periods.
PV = $80,000 x (1 - (1 + 0.06)^(-3)) / 0.06
PV = $80,000 x (1 - 0.83962) / 0.06
PV = $80,000 x 0.16038 / 0.06
PV = $213,800
Therefore, the bond issue price is $213,800.
Journal entries:
January 1, 2014:
Cash $213,800
Discount on Bonds Payable $-13,800
Bonds Payable $200,000
December 31, 2014:
Interest Expense $16,200
Discount on Bonds Payable $2,000
Cash $18,200
December 31, 2015:
Interest Expense $16,520
Discount on Bonds Payable $1,680
Cash $18,200
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lollllaoqlqlwlwkwjebsnan
The Earth has a moment of inertia, I = 8.04×10^37 kg*m^2. The Earth rotates at a moderate angular velocity of 7.2921159 ×10^−5 radians/second.
Using Conservation of Angular Momentum we can find the new rotation of the earth.
L=I*omega= 8.04×10^37 kg*m^2 * 7.2921159 × 10^−5 = 5.86286*10^33.
5.86286*10^33 = (8.04×10^37 + 1.5424*10^22) *omega
-> solve for omega = 7.292115899502489e-05
This is 4.97511e-15 rad/s slower than earth's original rotation. This translates to 6.752*10^-10 seconds = 0.6752 nanoseconds longer per day.
write a sample audit question from the following process
criteria purchasing process (procedure 3.2) states: "all purchases
must be made from an approved supplier"
1. Is there a list of approved suppliers available for reference during the purchasing process?
2. Have any purchases been made from a non-approved supplier? If so, what was the justification for doing so?
3. Is there a process in place for updating the list of approved suppliers?
4. Are there formal reviews for assessing supplier performance?
The class trip is going to cost each of the fifty
students $130.00. If tax is 5%, what is the total
cost for the entire class?
Answer:
$6,825.00
Explanation:
50x$130=$6,500.00
$6,500 × 5% = $325.00
$325.+$6,500=6,825.00
You should write down everything a speaker says when you take notes.
Please select the best answer from the choices provided
T
F
Question 7 of 10
Which situation best describes an opportunity cost?
OA. A marketing company goes out of business because it could not
find enough clients.
B. A person decides to go back to college in order to transition to a
new career.
OC. A corporation that begins selling a new product sees its overall
profits increase.
D. An employer who hires a new employee can't hire the other people
she interviewed.
In this context, the situation that best describes an opportunity cost is option B, where a person decides to go back to college to transition to a new career. Option B
By choosing to go back to college, the person is sacrificing their current job, income, and possibly some personal time and resources to pursue a new career path. The opportunity cost in this scenario is the potential earnings, benefits, and opportunities that the person could have enjoyed if they had decided to continue working in their current job.
Option A describes a business failure due to a lack of clients, but it does not involve any opportunity cost as there is no alternative being considered. Option C also does not describe an opportunity cost as the corporation is experiencing a gain rather than a loss.
Option D involves a trade-off but not necessarily an opportunity cost as the employer is simply choosing one candidate over the others without necessarily sacrificing anything.
In conclusion, an opportunity cost arises when a person or a business chooses one alternative over another, sacrificing the benefits of the unchosen alternative. The scenario in option B best describes this concept as the person is giving up their current job and income to pursue a new career, which is the opportunity cost of their decision. Option B
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How will taxation influence the circular flow model
Answer:
TMS
Explanation:
Taxes (T) imposed by the government reduced the flow of income.
Money paid to foreign companies for imports (M) also constitutes a leakage.
Savings (S) by businesses that would have been put to use are a decrease in the circular flow of an economy's income.
T/F the racketeer influenced and corrupt organizations act provides for the recovery of three times the damages suffered by an injured party as a result of its violation.
True. The Racketeer Influenced and Corrupt Organizations Act (RICO) is a United States federal law that allows prosecution and civil action for certain illegal acts performed as part of an ongoing criminal organization.
RICO was created in 1970 to combat organized crime, and it allows for the recovery of three times the damages suffered by an injured party as a result of its violation. It also authorizes the U.S. Attorney General to take civil action against any group that he or she believes to be engaging in illegal activities under the RICO Act. In addition, it provides for a criminal penalty of up to 20 years in prison for anyone found guilty of violating the act.
Overall, the RICO Act is a powerful tool in the fight against organized crime, and it has been used to successfully prosecute numerous individuals and organizations over the years.
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Internal venturing is a more attractive strategy than acquisitions when:
a. entry barriers are high.
b. exit barriers are high.
c. a company's business model is based on using its technology or design skills to innovate new kinds of products and enter related markets or industries.
d. it needs to move fast to establish a presence in an industry, commonly an embryonic or growth industry.
e. the company must make the huge investment necessary to develop the set of value-chain activities required to make and sell products in the new industry.
Internal venturing is a more attractive strategy than acquisitions when it needs to move fast to establish a presence in an industry, commonly an embryonic or growth industry.
Internal venturing can be a cost-effective and highly efficient way of entering new markets and industries, as it allows companies to take advantage of their existing technology and design skills to quickly come up with innovative products and services. Additionally, internal venturing can help companies to avoid the high costs associated with making a large investment in the development of an entire value-chain infrastructure. With internal venturing, companies can move swiftly to gain entry into an industry, giving them a competitive advantage in the short term and in the long term.
Internal venturing is a more attractive strategy than acquisitions when it needs to move fast to establish a presence in an industry, commonly an embryonic or growth industry.
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fill in the blank. ____ the is/are arranged sequentially after the promoter.
The sequence that is arranged sequentially after the promoter in gene expression is the transcription start site.
In gene expression, the promoter is a region of DNA that initiates the transcription of a particular gene. After the promoter, the next sequence of DNA is the transcription start site. This is where RNA polymerase binds and begins transcribing the DNA into RNA.
The transcription start site is followed by the coding region of the gene, which contains the instructions for building a specific protein. The coding region is made up of exons, which are the coding sequences, and introns, which are non-coding sequences that are removed during RNA processing. After the coding region, there may be a termination sequence that signals the end of transcription.
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How can I become rich???
Explanation:
1, Don’t focus on a job, use the income from your job to invest to create different forms of income
2, Fastest way to get rich is to form a business
that's it :)
Navarro Company's Cash account shows an ending balance of $850, and the bank statement shows an ending balance of $804. The bank statement shows a $26 service charge and an NSF check for $190. A $300 deposit is in transit, and outstanding checks total $470. What is Navarro's adjusted cash balance?
The adjusted cash balance for Navarro Company is $418.
To help you with your question regarding Navarro Company's adjusted cash balance. We will take into account the ending balances, service charge, NSF check, deposit in transit, and outstanding checks.
1. Start with the bank statement ending balance: $804.
2. Add the deposit in transit: $804 + $300 = $1,104.
3. Subtract the outstanding checks: $1,104 - $470 = $634.
4. Subtract the bank service charge: $634 - $26 = $608.
5. Subtract the NSF check: $608 - $190 = $418.
Therefore adjusted cash balance for Navarro Company is $418.
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Answer the following question.
1. What are the thing to remember that when putting up business?
2. Discuss the recipe for munchkins making?
Answer:
1. Things to remember when putting up a business include having a clear vision, creating a business plan, securing funding, obtaining licenses and permits, hiring employees, and marketing your business. Additionally, you will need to be mindful of taxes, managing finances, and staying organized.
2. The recipe for munchkins making is as follows:
Ingredients:
- 1 cup all-purpose flour
- 1/2 teaspoon baking powder
- 1/4 teaspoon ground cinnamon
- 1/4 teaspoon salt
- 1/4 cup vegetable oil
- 1/4 cup granulated sugar
- 1/4 cup packed brown sugar
- 2 large eggs
- 1 teaspoon vanilla extract
Directions:
1. Preheat oven to 375°F. Grease mini donut pan with nonstick cooking spray.
2. In a medium bowl, whisk together flour, baking powder, cinnamon, and salt.
3. In a separate bowl, whisk together oil, sugars, eggs, and vanilla.
4. Gradually add dry ingredients to wet ingredients and mix until just combined. Do not over mix.
5. Fill donut cups to about 2/3 full with batter. (A spoon or piping bag works well for this.)
6. Bake for 10 minutes, or until a toothpick inserted into the middle of a munchkin comes out clean.
7. Allow munchkins to cool in the pan for 5 minutes before transferring to a cooling rack.
8. When cool, store in an airtight container at room temperature. Enjoy!
1. Suppose that incomes have fallen on average, and that the state of Florida had an extremely favorable growing season for its orange crop. How would we expect that this will affect the supply curve and why? (The supply curve can remain static, the supply curve can shift to the left, we do not have enough information to say, or the supply curve will shift to the right)
Due to severe weather and a disease that affects citrus fruit, Florida's orange harvest is anticipated to fall to its lowest level since before World War II. Orange juice costs would rise as a result of this further reducing the state's already meager supply.
Where Florida is Located?Florida is a state located in the southeast region of the United States. It is bordered by the Atlantic Ocean and Bahamas to the east and southeast, Georgia to the north, Alabama to the north and northwest, the Straits of Florida to the south, and the Gulf of Mexico to the west.
The Atlantic Ocean and the Gulf of Mexico both border this state, making it unique. With approximately 21 million residents and a land size of 65,758 square miles, Florida is the 22nd-largest state in the nation by both population and area (170,310 km2).
The Miami metropolitan area, which is funded by Florida, is the state's largest metro area even though Jacksonville is the largest city in terms of area.
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What's is an example of decision making in college
Answer:
Choosing the correct program, using college resources, attending your classes, and doing well in assignments and exams.
what are the are the three groups of the economy
There are three main types of economies: free market, command, and mixed.
management accounting: group of answer choices must be consistent with rules formulated by the international accounting standards board (iasb) is primarily oriented to external stakeholders. provides information that is generally available only on a quarterly or annual basis. is both retrospective, providing feedback about past operations, and also prospective, incorporating forecasts and estimates about future events.
Management accounting provides information that is both retrospective, providing feedback about past operations, and also prospective, incorporating forecasts and estimates about future events. Option D is correct.
Management accounting is concerned with providing internal stakeholders, such as managers and decision-makers within the organization, with financial and non-financial information to assist in planning, decision-making, and control. Therefore, management accounting is primarily oriented to internal stakeholders rather than external stakeholders.
This information is typically available on an ongoing basis rather than only on a quarterly or annual basis and can be both retrospective, looking back at past performance, and prospective, incorporating forecasts and estimates about future events.
The rules and standards for management accounting are not formulated by the International Accounting Standards Board (IASB), as these standards are focused on external financial reporting.
Therefore, option D is correct.
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Which of the following statements is not true?
A. Cross-sectional analysis involves comparing a company's ratios to its competitors' ratios.
B. Benchmarking involves comparing a company's ratios to its industry's average ratios.
C. Trend analysis involves comparing a company's ratios over time.
D. Benchmarking involves comparing a company's ratios over time.
The statement that is not true is D. Benchmarking involves comparing a company's ratios over time.
Benchmarking involves comparing a company's ratios to industry averages or best practices to assess its performance and identify areas for improvement. It focuses on comparing a company's ratios to external standards or benchmarks.
On the other hand, trend analysis involves comparing a company's ratios over time to evaluate its performance and identify patterns or trends. It helps to assess the company's progress and track its financial health and performance over a specific period.
While benchmarking compares a company's ratios to external benchmarks, it does not necessarily involve comparing ratios over time. Benchmarking is more concerned with comparing a company's performance to industry standards rather than assessing its performance changes over time. Therefore, statement D is not true.
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surf board company has the following information for 20x2. tax rate 30% actual write-off of accounts receivable during the year 21,200 correct income statement as of december 31, 20x2: sales $436,000 expenses 331,400 bad debt expense 22,700 pretax income 81,900 tax expense 24,570 net income $57,330 analysis of the allowance for doubtful accounts: beginning balance (credit) (2,000) bad debt expense recorded in allowance (credit) (22,700) write-off of accounts receivable during the year (debit) 21,200 ending balance (credit) (3,500) using the above information, what is the entry amount to deferred tax asset-allowance in december 31, 20x2?
The entry amount to the deferred tax asset-allowance on December 31, 20x2, is $1,110.
The bad debt expense recorded in the allowance is $22,700, which represents the portion of the expense that is tax-deductible. Multiplying this amount by the tax rate of 30% gives us $6,810, which is the tax benefit associated with the bad debt expense.
Next, we need to calculate the change in the allowance for doubtful accounts. The beginning balance of the allowance is a credit of $2,000, and the ending balance is a credit of $3,500. The change is $3,500 - $2,000 = $1,500, but since the ending balance is a credit, we need to reverse the sign. Therefore, the change in the allowance is -$1,500.
Finally, we multiply the change in the allowance by the tax rate to calculate the deferred tax asset-allowance. -$1,500 * 30% = -$450.
Since the tax benefit from the bad debt expense is greater than the change in the allowance, we add the two amounts: $6,810 + (-$450) = $6,360.
However, this is the amount for the tax benefit. The deferred tax asset-allowance represents the net amount of the tax benefit after considering the tax expense. So, we subtract the tax expense of $24,570 from the tax benefit: $6,360 - $24,570 = -$18,210.
Since the deferred tax asset is an asset, a negative value represents a reduction or a credit to the asset account. Therefore, the entry amount to deferred tax asset-allowance is $1,110 (the absolute value of -$18,210).
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What is a AWS management console?
The AWS management console is a web-based interface used to manage and monitor Amazon Web Services (AWS) resources. It is designed to help AWS users manage their resources in a secure, efficient, and user-friendly way. The AWS management console provides a single place for users to access and manage their AWS services, making it easier to control their infrastructure and applications.
The AWS management console allows users to perform various tasks, such as launching new instances, creating and managing virtual private clouds (VPCs), managing storage and databases, and monitoring their resources. Users can also access the AWS management console to manage their billing and cost optimization, as well as to view their resource utilization and performance.
In addition to these management tasks, the AWS management console also provides a range of tools and features to help users improve the security and reliability of their AWS resources. For example, users can use the AWS management console to set up access controls and manage security groups, as well as to monitor their resource utilization and performance.
The AWS management console is accessible from any internet-connected device and can be used from anywhere in the world, making it a convenient tool for AWS users to manage their resources. AWS also provides a range of training and support resources to help users get the most out of the AWS management console and their AWS services.
In conclusion, the AWS management console is a web-based interface designed to help AWS users manage and monitor their resources. It provides a single place for users to access and manage their AWS services, making it easier to control their infrastructure and applications. The AWS management console is an essential tool for AWS users and provides a range of features and tools to help users improve the security, reliability, and efficiency of their resources.
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what single amount at the end of the fifth year is equivalent to a uniform annual series of $3,000 per year for 10 years if the interest rate is 9om pounded annually?
The single amount at the end of the fifth year that is equivalent to a uniform annual series of $3,000 per year for 10 years at an interest rate of 9% compounded annually is $14,000.
To solve this problem, we can use the formula for the present value of an annuity: PV = C × [(1 - (1 + r)^-n) / r], where PV is the present value, C is the annual payment, r is the interest rate, and n is the number of payments.
In this case, we have an annual payment of $3,000 for 10 years, so C = $3,000 and n = 10. The interest rate is 9% compounded annually, so r = 0.09.
Using the formula, we can find the present value of the annuity to be $22,150.45.
Now we need to find the single amount that is equivalent to this annuity after 5 years. To do this, we can use the formula for the future value of a single amount: FV = PV × (1 + r)^n. In this case, we want to find the present value (PV) that will grow to $22,150.45 after 5 years. So, n = 5 and FV = $22,150.45.
Solving for PV, we get:
PV = FV / (1 + r)^n
PV = $22,150.45 / (1 + 0.09)^5
PV = $14,000
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________________ is used during the early stages of the product life cycle. Because the product is new, the focus is on explaining the benefits of the product class, and not on promoting the specific brand. ________________ is used during the early stages of the product life cycle. Because the product is new, the focus is on explaining the benefits of the product class, and not on promoting the specific brand. Company advertising Institutional advertising Pioneering advertising Advocacy advertising
Answer:
Pioneering Advertising
Explanation:
Pioneering advertising is the advertising campaign of the new product that should compete the single product by having a developed market place. The motive of this type of advertising is that to inform the consumers with respect to the arrival of the new innovation in the product along with the description of its benefits
So according to the given situation it represents the pioneering advertising
The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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increasing international exchange in goods and services can run into the difficulty of how to address the needs of customers at different income levels. group of answer choices true false
True, the challenge of meeting the needs of clients with varied income levels can arise as global trade in goods and services increases.
Because clients with different income levels have different purchasing power and tastes, this statement is accurate. They might therefore demand various degrees of product quality, price, and features.
Customers with lower income levels may place more importance on price than product quality, whereas customers with higher income levels may place more importance on premium features and quality than affordability.
For companies looking to increase their interchange of goods and services internationally, this poses a hurdle. Companies must figure out how to profitably serve customers with varying income levels while successfully addressing their demands.
To suit the preferences and purchasing power of clients in other marketplaces, they could need to modify their goods or services, which could necessitate additional spending and resources.
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Oldin Corporation currently pays its salesperson a flat salary of $5,000 per month and is considering paying $20 per unit instead. Sales are currently 200 units per month. Goldin believes the compensation change will increase unit sales by 25%. The current contribution margin is $80 per unit. If the change is implemented, net operating income will ______. Multiple choice question. Decrease by $4,000 increase by $4,000 increase by $1,000 decrease by $1,000
Answer:
Increase by $4,000
Explanation:
Increase in sales = 200 x 25% = 50
Total sales after change = 200+50 = 250
New Contribution = $80 x 250 = $20,000
Old Contribution = $80 x 200 = $16,000
change in contribution $20,000 - $16,000 = $4,000
When deciding on what to wear each day, most people use the decision-making process.
Т
F
Answer:
False
Explanation:
The decision-making process is a complex process that requires the user to go through seven in-depth steps before coming to a conclusion. This would be used in a business setting by an employee such as a CEO before making important decisions such as cutting a product line or adding a new department. Deciding what to wear each day is a decision, but does not require the in-depth thought process and research that is included in the decision-making process.
Do you think careers in computer graphics and animations are more artistic or more technical? Explain your answer
I think careers in computer graphics and animations are more artistic than technical and this is because computer graphics and animations need a lot of visualization and artistry.
What is Computer Graphics Animation?Computer Graphics is a type of graphics which involves generating images with the aid of a computer. This concept of computer graphics plays an integral role in the technology of today and that of the future. It is based on this that several aspects of digital photography, film, video games, cell phone and computer displays are produced.
Computer animation involves the process of manipulating images on a computer to create a moveable object. This type of technology is the bases for producing moveable objects such as in filmography.
Computer Graphics and animation is more artistic than technical because it involves a lot of artistry, visualization and imagination to put together a fine work of graphics.
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why do large restaurant chains like mcdonald’s, kentucky fried chicken, and dunkin donuts franchise so many of their u.s. restaurants?
Large restaurant chains like McDonald's, Kentucky Fried Chicken, and Dunkin Donuts franchise so many of their U.S. restaurants because it allows them to expand rapidly and enter new markets with minimal risk.
What is franchising ?Franchising allows the restaurant chains to leverage the capital and entrepreneurial spirit of local business owners who are willing to invest in the brand.
Franchising also provides a consistent customer experience across all locations, which helps to maintain the brand's reputation.
Additionally, franchising allows the chains to focus on their core competencies, such as product development and marketing, while leaving day-to-day operations to franchisees.
Overall, franchising is a cost-effective way for restaurant chains to grow their brand and increase revenue.
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A machine does 200J of work in 35seconds , calculate the power developed
The required power developed by the machine is 5.714 Joule per second.
Power generated by a machine is defined as the work done by a machine in a single unit of time.
Power = work/time
Unit of power is joule per second
Here,
A machine does 200J of work in 35seconds
Power generated by the machine is given as,
Power = work/time
Substitute the value in the above equaiton,
Power = 200 / 35
Power = 5.714 J/s
Thus, the required power developed by the machine is 5.714 Joule per second.
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Qd = 130-5P
Qs = 10P-80
Now suppose the government imposes a price floor of £15. Will this market be characterized by a shortage or a surplus of the good? What will be its magnitude?
The market will be characterized by a surplus of 15 units of the good.
To determine whether the market will experience a shortage or a surplus after the imposition of a price floor of £15, compare the quantity demanded (Qd) and the quantity supplied (Qs) at that price.
Given the equations:
Qd = 130 - 5P
Qs = 10P - 80
First, we need to find the equilibrium price (P) and quantity (Q) before the price floor is imposed. At equilibrium, Qd equals Qs, so set the equations equal to each other and solve for P:
130 - 5P = 10P - 80
Rearranging the equation:
15P = 210
P = 210/15
P = 14
The equilibrium price is £14.
Next, determine the equilibrium quantity (Q) by substituting the equilibrium price into either the Qd or Qs equation:
Q = 130 - 5(14)
Q = 130 - 70
Q = 60
The equilibrium quantity is 60 units.
Now, let's analyze the impact of the price floor of £15. The price floor is set above the equilibrium price, so it will affect the market dynamics.
When the price is set at £15, substitute this value into the Qd and Qs equations to determine the respective quantities:
Qd = 130 - 5(15)
Qd = 130 - 75
Qd = 55
Qs = 10(15) - 80
Qs = 150 - 80
Qs = 70
Comparing Qd and Qs at the price floor:
At £15:
Qd = 55
Qs = 70
Since Qs (70) is greater than Qd (55) at the price floor, there will be a surplus of the good in the market. The magnitude of the surplus can be calculated by subtracting Qd from Qs:
Surplus = Qs - Qd
Surplus = 70 - 55
Surplus = 15
The market will be characterized by a surplus of 15 units of the good.
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which best describes the main purpose of a budget? responses eliminate flexible expenses eliminate flexible expenses reduce discretionary spending reduce discretionary spending get a good credit rating get a good credit rating plan income and expenses
Option (d), The main purpose of a budget is that it helps to plan income and expenses.
The budget is a plan that contains the financial information necessary to manage money. It is an essential tool for individuals, families, and businesses to maintain financial stability and plan for their financial future. It helps people to plan and prioritize their expenses and allocate their resources according to their needs and wants.
A budget is a plan for managing money that helps people to maintain financial stability and plan for their financial future. It is used to estimate the income and expenses of an individual, family, or business and to allocate resources according to their needs and priorities. The main purpose of a budget is to plan income and expenses. It is a tool that helps people to manage their finances and make informed decisions about spending and saving their money.
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