The amount of the short-term notes payable that should be excluded from current liabilities and classified as long-term liabilities on December 31, 2020, is: C. . $1,000,000.
short-term notes payable that are due on March 1, 2021, should be classified as a long-term liability if they are refinanced or replaced with long-term financing before the issuance of the financial statements on March 15, 2021.
In this case, on December 23, 2020, Salem arranged to borrow up to $4,000,000 from Ahli Bank to liquidate the $5,000,000 short-term notes payable. Since the new borrowing from Ahli Bank includes an additional $1,000,000 in cash, it can be assumed that the $5,000,000 short-term notes payable will be fully paid off and replaced with the new borrowing.
, the amount of the short-term notes payable that should be excluded from current liabilities and classified as long-term liabilities on December 31, 2020, is $1,000,000.
Option C, $1,000,000, is the .
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The following information comes from the accounting records for Chelsea, Inc., for May:
Direct materials inventory, May 1 $17,000
Direct materials inventory, May 31 15,200
Work-in-process inventory, May 1 9,500
Work-in-process inventory, May 31 5,300
Finished goods inventory, May 1 54,500
Finished goods inventory, May 31 72,100
Direct materials purchased during May 83,800
Direct labor costs, May 59,300
Manufacturing overhead, May 79,700
Required:
a. Compute the total prime costs for the month of May.
b. Compute the total conversion costs for the month of May.
c. Compute the total manufacturing costs for the month of May.
d. Compute the cost of goods manufactured for the month of May.
e. Compute the cost of goods sold for the month of May.
a. The total prime costs for the month of May can be calculated by adding the direct materials purchased during the month and the direct labor costs for the month. Thus, total prime costs for May are $83,800 + $59,300 = $143,100.
b. The total conversion costs for the month of May can be calculated by adding the direct labor costs for the month and the manufacturing overhead for the month. Thus, total conversion costs for May are $59,300 + $79,700 = $139,000.
c. The total manufacturing costs for the month of May can be calculated by adding the total direct materials used during the month to the total conversion costs for the month. To calculate the total direct materials used, we can subtract the direct materials inventory at the end of May from the sum of the direct materials inventory at the beginning of May and the direct materials purchased during May. Thus, total direct materials used for May are $17,000 + $83,800 - $15,200 = $85,600. Therefore, the total manufacturing costs for May are $85,600 + $139,000 = $224,600.
d. The cost of goods manufactured for the month of May can be calculated by adding the beginning work-in-process inventory for May to the total manufacturing costs for May and then subtracting the ending work-in-process inventory for May. Thus, cost of goods manufactured for May are $9,500 + $224,600 - $5,300 = $228,800.
e. The cost of goods sold for the month of May can be calculated by adding the beginning finished goods inventory for May to the cost of goods manufactured for May and then subtracting the ending finished goods inventory for May. Thus, cost of goods sold for May are $54,500 + $228,800 - $72,100 = $211,200.
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using appointments or reservations to schedule delivery of services is an attempt to address the ___________ characteristic of services.
Using appointments or reservations to schedule delivery of services is an attempt to address the intangibility characteristic of services.
This is because services are intangible, meaning they cannot be touched or felt like a physical product. Therefore, appointments or reservations can help to create a sense of tangibility and structure for the customer, making the service experience more concrete and reliable. Additionally, appointments or reservations can also help to manage the logistics of service delivery, ensuring that the service provider has enough time and resources to meet the customer's needs at the specified address or location.
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Please explain to me this question in full detail I’m a slow learner please tell me which time table to use thank you
Here’s the question
ABC Inc. leased a drilling equipment form a regional oil services company. The oil company purchased the drilling equipment from an international drilling equipment manufacturer at a cost of700,000 SR. The following information is given:
Which Condition met?
Given these information
Lease term:
3 years
semiannual (at the end
Payment frequency:
of the periods)
Economic life of the
Three years
asset
Pavment amount:
120,000 SR
Rate (lessors and the
12%
lowest rate)
• Ownership transfers
O A bargain purchase option
• The noncancelable lease term is equal to 75% or more of the expected economic life of the asset,
• The PV of the minimum lease payments is 90% or more of the fair value of the asset
Note that Neither ownership transfer nor bargain purchase option condition is met based on the given information.
What is the explanation for the above response?Ownership transfer occurs when the lease agreement allows the lessee to purchase the leased asset at a predetermined price, typically lower than the fair market value.
A bargain purchase option occurs when the lessee has an option to purchase the leased asset at a price significantly lower than the asset's expected fair value at the end of the lease term. In the given scenario, neither of these conditions is met, meaning that the lessor retains ownership of the asset, and the lessee does not have a purchase option at a bargain price.
Thus, Neither ownership transfer nor bargain purchase option condition is met.
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PLEASE HELP! IN A TEST! A salesperson may sell from a distance except when it involves _____.
A. contacting people through email messages
B. contacting people who have opted
out of receiving sales messages
C. letting customers place orders on a company's website
D. contacting people through telemarketing
Answer:
b
Explanation:
A salesperson may sell from a distance except when it involves contacting people who have opted out of receiving sales messages. Thus option (b) is correct.
Who is a salesperson?A salesperson is a person who is employed by a company or organization to sell products or services to customers. The primary role of a salesperson is to identify potential customers, establish relationships with them, and persuade them to purchase the company's products or services.
They may use a range of techniques to sell, including advertising, direct marketing, and personal selling. Successful salespeople typically have strong communication, interpersonal, and negotiation skills, and are able to build trust and rapport with customers.
If a person has opted out of receiving sales messages, the salesperson is not allowed to contact them for marketing purposes. Therefore, option (b) is correct.
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aaron plans to invest $20,000 at the end of year 1, $44,000 at the end of year 2, and $53,000 at the end of year 3. you want to have the same amount of money as aaron three years from now, but you want to make one lump sum investment today. what amount must you invest today if you both earn 9.7 percent per year, compounded annually? multiple choice $88,627 $94,942 $106,655 $154,456 $151,047
To calculate the lump sum investment amount you need to make today to have the same amount as Aaron after three years, we can use the concept of present value.
The present value formula is:
PV = FV / (1 + r)^n
Where:
PV is the present value (the amount you need to invest today)
FV is the future value (the total amount Aaron will have after three years)
r is the interest rate per period (9.7% per year)
n is the number of periods (three years)
We need to calculate the future value (FV) of Aaron's investments. Using the formula for future value of a series of investments:
FV = 20,000 * (1 + 0.097)^2 + 44,000 * (1 + 0.097)^1 + 53,000FV ≈ 20,000 * 1.194 + 44,000 * 1.097 + 53,000
FV ≈ 23,880 + 48,268 + 53,000
FV ≈ 125,148Now, we can calculate the present value (PV) using the formula:
PV = 125,148 / (1 + 0.097)^3PV ≈ 125,148 / (1.097)^3
PV ≈ 125,148 / 1.294
PV ≈ 96,725
Therefore, the amount you must invest today to have the same amount as Aaron after three years is approximately $96,725.Out of the given options, none of them match the calculated amount exactly.
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Select the correct answer.
Why do some critics feel that the IMF should not act to influence exchange rates under some conditions?
A.
They believe that wild swings in currency exchange rates are healthy.
B.
They believe that currencies must find their own market levels.
C.
They fear that the IMF may take over the country’s economy.
D.
They fear that politicians may be using the IMF to cover up their actions.
Answer:
Explanation:
They believe that currencies must find their own market levels.
Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?
Answer:
Form.
Explanation:
Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.
Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services.
Form is a type of utility that enhances value through the creation of more useful or desirable products from raw materials or separate parts, so as to meet the unending requirements or needs of the consumers. It refers to characteristics such as size, external dimensions, mass, visual appearance, and weight that uniquely distinguishes an assembly, component or part.
True or false? trade secrets have an unlimited duration, i.e. do not expire after a fixed period of time.
The statement, "Trade secrets have an unlimited duration, i.e. do not expire after a fixed period of time." is true.
Trade secret protection remains in place indefinitely. Trade secrets are not need to be registered and can last as long as they are kept private. Trade secrets are a type of intellectual property that includes formulas, procedures, methods, designs, tools, patterns, or information compilations that have inherent economic value because they are not widely known or easily discoverable by others and that the owner takes reasonable precautions to keep secret.
A corporation may use a trade secret to maintain a competitive edge as long as the company maintains the trade secret' confidentially since a trade secret has no expiration date. A trade secret is any corporate policy or practice that is normally kept a secret from anyone outside the company.
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A cook checks the temperature of soup being held for service, and it is 130°F (54°C). The cook reheats the soup to 165°F (74°C). This is an
example of
Answer: taking a corrective action.
Explanation:
From the question, we are informed that a cook checks the temperature of soup being held for service, and it is 130°F (54°C) and then tge cook reheats the soup to 165°F (74°C). This is an example of taking a corrective action.
A correction action refers to a solution that helps in fixing a particular problem.
In this case, the corrective action taken by the cook helps in preventing the soup from spoiling.
describe the benefits of having an electronic resume
Answer:
Online resumes offer more flexibility and room for creativity than their printed counterparts. Here are just a few benefits of using an online resume service: Undoubtedly, some of your skills and prior experiences are more relevant to some jobs/companies than others.
Explanation:
hope it helps
___ is the situation in which no solution to the linear programming problem satisfies all the cơnstraints. Optimality Divisibility Infeasibility Unboundedness
Infeasibility is the situation in which no solution to the linear programming problem satisfies all the constraints.
In a linear programming problem, we aim to optimize an objective function (such as maximizing profit or minimizing cost) subject to certain constraints (such as available resources or limitations). When a problem is infeasible, it means that there is no feasible solution that satisfies all these constraints simultaneously. Infeasibility can occur for various reasons, such as conflicting constraints, overly restrictive conditions, or errors in the formulation of the problem.
It is important to carefully analyze the problem and constraints to identify and resolve infeasibility issues. On the other hand, optimality refers to the best possible solution that satisfies all constraints, while unboundedness indicates that the objective function can be improved indefinitely without violating any constraints. Divisibility, in the context of linear programming, implies that the solutions can be divided into smaller parts without affecting the overall outcome.
In summary, infeasibility is a situation in linear programming where no solution can satisfy all constraints, making it impossible to find an optimal solution. Identifying and resolving infeasibility issues is essential for successful linear programming problem-solving. The correct option is infeasibility.
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How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Privott, Inc., manufactures and sells two products: Product Z9 and Product N0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product Z9 Product N0 Total
Labor-related DLHs $ 337,018 7,700 4,300 12,000
Product testing tests 52,247 1,050 1,150 2,200
Order size MHs 477,608 5,300 5,600 10,900
$ 866,873
The activity rate for the Labor-Related activity cost pool under activity-based costing is closest to:
A. $45.43 per DLH
B. $394.03 per DLH
C. $49.76 per DLH
D. $28.08 per DLH
Answer:
Option D is correct
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH
Explanation:
Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers.
Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.
Activity rate per driver is calculated as:
Activity overhead for the period / Total cost drivers for the period
Activity rate for the Labor-Related activity cost pool
= Labour related overheads/Total labour hours
= $ 337,018 /12,000 labour hours
= $28.08 per Direct labour hour
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH
Wes Ottey would like to buy an apartment in Sydney in six years. He is looking to invest $75,000 today in a share that is expected to earn a return of 18.3 percent annually. How much will he have at the end of six years? (Round to the nearest dollar.)
Answer: 82350
Explanation: I say this cause mathematically speaking 18.3% of 75000 = 13725, then multiplied by 6 (6 years) should be 82350. It does say the end of 6 years though but the end of 6 years isn't 7 years so I'd still say 82350 or something like that.
Diamond Corporation is planning a bond issue with an escalating coupon rate. The annual coupon rate will be 4.6% for the first 5years, 5.6% for the subsequent 3 years, and 6.6% for the final 4 years. If bonds of this risk are yielding 7%, estimate the bond's current price. Face value of the bond is $1,000."
The Diamond Corporation's bond current price is approximately $1,033.60.
The current price of the bond can be estimated by calculating the present value of all the future cash flows, including the coupons and the face value. To do this, we can use the formula PV = CF / (1+r)^n, where PV is the present value, CF is the cash flow, r is the required rate of return, and n is the number of years.
For the first 5 years, the annual coupon rate is 4.6%, so the annual cash flow is $1,000 x 4.6% = $46. The present value of these cash flows is \(\frac{46}{(1+0.07)^1}+\frac{46}{(1+0.07)^2}+\frac{46}{(1+0.07)^3}+\frac{46}{(1+0.07)^4}+\frac{46}{(1+0.07)^5}\) = $202.97.
For the subsequent 3 years, the annual coupon rate is 5.6%, so the annual cash flow is $1,000 x 5.6% = $56. The present value of these cash flows is \(\frac{56}{(1+0.07)^6}+\frac{56}{(1+0.07)^7}+\frac{56}{(1+0.07)^8}\) = $133.85.
For the final 4 years, the annual coupon rate is 6.6%, so the annual cash flow is $1,000 x 6.6% = $66. The present value of these cash flows is \(\frac{66}{(1+0.07)^9}+\frac{66}{(1+0.07)^{10}}+\frac{66}{(1+0.07)^{11}}+\frac{66}{(1+0.07)^{12}}\) = $188.43.
Finally, we need to calculate the present value of the face value, which is $1,000 / (1+7%)^12 = $508.35.
Adding up all the present values, we get $202.97 + $133.85 + $188.43 + $508.35 = $1,033.60. Therefore, the estimated current price of the bond is $1,033.60.
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Someone help me with this please
Answer:
A. hom0zygous dominant
Explanation:
A capital letter is a dominant gene and two dominant genes would be hom0zygous
Answer:
C none of the above
[Sorry if I'm wrong but I'm pretty sure it's that one]
Explanation:
The answer should be genotype=the Gene's of an organism
What are the three ways the argument section of a cover letter can be formatted
One of the limitations for an entrepreneur of setting up a new business as a franchise is:
Answer:
The first and most significant disadvantage of a franchise is the fact that the franchisee has no control of the business or how it is run (or very limited control). The rules of the business are already established and part of the franchise agreement.
Pedro is a very talented young man who lives in a small, remote town in the mountains. He gets good grades, plays in the band, and is active in the drama club. He is close to his large family and wants a career that will allow him to maintain his current life style. What career option should Pedro consider? A. Teacher B. Musician C. Actor D. TV personality
Answer:
A. Teacher
Explanation:
If Pedro chooses to become an actor, a musician, or a TV personality, and was successful, he wouldn't be able to maintain his current life style. In order to try to be successful, he would have to move to a large city by his own. Musicians, actors and TV personalities earn money depending on their popularity, and remote towns in the mountains are not very densely populated.
In the past few years, the internet has helped some people to become influencers or has helped musicians to become famous and earn money, but most of them eventually had to do things in the real world, not only the internet in order to remain popular.
Jaiden is in 6th grade and plans to attend college. He has created a college preparation plan. 1. He will fill out the FAFSA form and send it in immediately. 2. He will ask his parents if they have a college savings account. 3. When he gets to high school, he will start trying harder in school so he can qualify for academic scholarships. 4. During his last year of high school, he will get involved in sports and clubs he enjoys to qualify for scholarships. 5. Upon graduation, he will start saving money for college. Which statements identify errors in Jaiden’s plan? Check all that apply. He should wait until his last year in high school to fill out the FAFSA. He should start saving right away. It is never too early to start a savings account. He should work hard throughout middle school and high school or it might be too difficult for him to excel later, since bad habits are hard to break. He should try different sports and clubs in middle school and early high school. Then he should pick his favorites and invest more time in them. While in high school, he should quit all extracurricular activities so he can work more hours and save money. He should ask all his friends and neighbors to contribute to his college fund so it will grow faster.
Answer:
-He should wait until his last year in high school to fill out the FAFSA.
-He should start saving right away. It is never too early to start a savings account.
-He should work hard throughout middle school and high school or it might be too difficult for him to excel later, since bad habits are hard to break.
-He should try different sports and clubs in middle school and early high school. Then he should pick his favorites and invest more time in them.
Explanation:
Answer:
1
4
5
I did the test and pretty sure i got it correct
PLEASE HELP! I WILL GIVE BRAINLIEST! I don't need you to answer the whole thing, I just need more of an explanation on what I'm supposed to do! Thank you.
Imagine you are taking an international trip. Where would you go? What are the requirements to enter the country (visa, vaccinations, etc.)? What travel documents do you already possess, and which would you need to obtain? What else might you need to do to plan your trip?
Some good holiday destinations to go to are:
DubaiRomaniaSwedenUruguay.Some of the requirements for travel include:
A negative C*VID test.International passport.A valid reason for the visit.The travel document you would need is your International Passport and your flight ticket (if you are going by plane.
What is International Travel?This refers to the movement between one geographical location to another.
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what do we mean when we say that commercial bank act as trustee,executor of wheel,guranter etc in financial matters of thei customers.
Answer: When we state that a commercial bank acts as a trustee, executor of a will, guarantor, or otherwise fulfills comparable tasks in the financial concerns of their customers, we imply that the bank takes on certain responsibilities and offers particular services to help their customers in those capacities. Let's examine each role in more detail:
1. Trustee: Commercial banks can serve as trustees, administering and protecting assets on behalf of a person or organization. They guarantee that the resources are safeguarded, wisely invested, and distributed in accordance with the conditions of a trust agreement. The bank operates in the beneficiaries of the trust's best interests as trustees.
2. Executor of a will: Commercial banks that have been designated as executors of will carry out the instructions laid down in a person's will following their passing. This entails managing the decedent's assets, paying off debts, allocating inheritances, and making sure the procedure complies with the law.
3. Guarantor: A commercial bank can serve as a guarantor by offering a promise to uphold a client's financial obligations. This implies that the bank will step in and carry out those tasks on the client's behalf if the client is unable to perform their financial commitments, such as repaying a loan or meeting contractual requirements.
The commercial bank takes on fiduciary responsibilities in these capacities, which means that they have a moral and legal obligation to act in the interests of their clients, beneficiaries, or other parties. By offering these services, the bank ensures compliance with pertinent rules and regulations while providing expertise, security, and professional assistance to manage complex financial concerns.
It's vital to keep in mind that different banks and jurisdictions may have different policies and services relating to these jobs. Customers who want specific information and advice about these financial concerns should speak with their bank and legal counsel.
Downsizing can improve organizational performance by: A> Giving confidence to consumers that the organization is improving B> Eliminating overlap between functional areas C> Losing access to an array of resources D> Creating motivation through fear amongst the organization's workers
Downsizing can improve organizational performance by B> eliminating overlap between functional areas. When organizations undergo downsizing, they streamline their operations by reducing redundancies and eliminating
However, options A, C, and D are not accurate statements regarding the benefits of downsizing. Downsizing does not directly give confidence to consumers (option A) as consumer perception is influenced by various factors beyond organizational restructuring. Downsizing also does not lead to losing access to an array of resources (option C) if it is strategically planned and implemented. Lastly, creating motivation through fear (option D) can be detrimental to employee morale and may negatively impact organizational performance in the long run.
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Consider the specific-factors model where land is used to produce food. Show that the real return to landowners must go up if the price of food stays the same and the price
of the other good (cloth) falls
In the specific-factors model where land is used to produce food, the real return to landowners will increase if the price of food remains the same and the price of the other good, cloth, falls.
Here's why:
1. The specific-factors model assumes that land is specific to the production of food. So, if the price of food remains constant, the demand for food will stay the same.
2. When the price of cloth falls, consumers will have more purchasing power, which will lead to an increase in demand for cloth.
3. As a result, producers will shift resources away from producing cloth towards producing food to meet the constant demand for food. This means that more land will be allocated for food production.
4. Since land is a specific factor used in food production, an increase in land allocation will lead to an increase in the productivity of land.
5. The increase in productivity of land will result in higher output and thus higher profits for landowners. This increase in profits is reflected in the real return to landowners.
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The research and development team of BB Beverages has discovered that, during the testing process, one of their highly profitable new beverages contains ingredients that may cause liver damage in humans if consumed regularly over time. Additionally, the team also acknowledged that the plant that manufactures this beverage draws healthy groundwater which could cause a water shortage in areas surrounding the plant. Based on these findings, management has halted its production of this beverage until a solution can be found that does not adversely affect its consumers and the environment. Given this decision, it is evident that BB Beverages embraces a ______ orientation.
Answer: Societal Marketing
Explanation:
Based on the information given in the question, we can deduce that BB Beverages embraces a societal marketing orientation.
Societal marketing orientation occurs when the marketing decisions that are made by companies benefutbthe society as a whole and that the satisfaction of their wants isn't at the detriment of the society.
This is shown when the activities of the company can being about a water shortage in areas surrounding the plant which led to the company stopping production.
In trading account freight belongs to which side debit or credit?
Answer:
Explanation:
In trading account, freight belongs to the debit side. It is a direct expenses on purchases and manufacturing operation
Freight is the cost incurred in transporting an item to its final destination when the terms are FOB shipping point. It is treated as part of the cost of merchandise and recorded in the inventory if the merchandise has not been sold.
Increase in the cost of freight are recorded on the debit side while decrease are recorded on the credit side.
Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
What type of federal funding is free money, but is based
on financial need only?
A.Federal grants
B.All federal scholarships
C.The 529 Plan
D.None of these are correct
Answer:
Try A. Federal Pell Grant
Answer:
answer : b
Explanation:
cauise
Which function of money describes its ability to enable trade between
different people?
A. Store of value
B. Measure of value
O C. Standard of deferred payment
D. Medium of exchange
Answer:
D. Medium of exchange
Explanation:
A medium of exchange is any physical object used as a measure of value to facilitate the transfer of goods and services between sellers and buyers. A medium of exchange acts as a go-between in transactions. In modern trade, money is the most widely accepted medium of exchange.
Today, goods and services are given a monetary value. Trade becomes relatively easy as buyers and sellers know how much money is needed to complete a transaction.
If you are interviewed by more than one person, you should send a thank-you note to _____.
each person in the interview
each person you see in the building
the first person you are introduced to
the person who is obviously leading the interview
Answer:
option A is correct.
i.e.
each person in the interview.
Explanation:
Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.