Timm Inc., a calendar year, accrual basis taxpayer, is being sued by a customer who was injured when she tripped over a loose carpet in Timm's retail store. Timm's auditors required the corporation to accrue a $500,000 contingent liability and current year expense. Which of the following statements is true?
a. Timm can deduct the $500,000 accrued expense.
b. Timm can never deduct the $500,000 expense.
c. Timm can deduct the expense in the year in which the liability becomes fixed and determinable.
d. Timm can deduct the expense in the year of payment.
Answers
Answer: d. Timm can deduct the expense in the year of payment.
Explanation:
A Contingent Liability refers to a liability that a company MIGHT incur if a future event happens. It is mostly often used for law suits in case a company has to pay damages. They will thus accrue the expense in readiness to pay it off should the need ever arise.
While Timm will record it in the books, there is no need to deduct it from the income yet. Timm should wait until the year they will have to pay to deduct it. That way the expense will be correctly apportioned to it's corresponding period.
Related Questions
What are two recent CSR/CSI initiatives of Woolworths
Answers
Answer: Donating food to needy communities, and clothes
Explanation: The fabric of society
1. Leslie Moore runs a hammock shop. She is set to markdown her existing stock of hammocks 60 percent since it is mid-September, and her summer
high-sales period is completed. The basic rope hammock is retail priced at $65.00. What would be her markdown dollar amount and her resulting sale
price?
Answers
Leslie Moore's markdown dollar amount will be $39 and her resulting sale price will be $26.
What is pricing strategy?Pricing strategy is known as the changing in price of a product or service according to the demand of the product or service in the market. When the demand for a said product is high the price for the product is increased and if the demand of a product is low then the price is reduced.
Leslie Moore runs a hammock shop and she have a pricing strategy according to which she is now willing to reduce the price by 60%. The amounts are calculated as sale price multiply by 60% the amount is the reduction in the sale price, the reduction amount is deducted from the sale price.
The calculation is shown below,
$65 * 60% = $39
$65 - $39 = $26
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Job 148 requires $12,000 of direct materials, $6,700 of direct labor, 550 direct labor hours, and 270 machine hours. It also requires 9 hours of inspection at $40 per hour. Manufacturing overhead is computed at $28 per direct labor hour used and $42 per machine hour used. The total amount of overhead allocated is: a. $34,100. b. $26,740. c. $45,440. d. $15,400.
Answers
Answer:
b. $26,740
Explanation:
The computation of the total amount of overhead allocated is shown below:
overhead allocated is
= (actual direct labor hour × overhead rate per direct labor hour) + (Actual machine hour × overhead rate per machine hour)
= (550 × 28) + (270 × 42]
= $15,400 + $11,340
= $26,740
hence, the total amount of overhead allocated is $26,740
A cat food company’s marketing department knew that consumers wanted natural products in their pets’ food, so they changed the labels on the cans to stress which ingredients were natural, but left off the other ingredients. This illustrates
A. greenwashing
B. alternative facts
C. whiteboarding
D. plagiarism
E. whistleblowing
Answers
This scenario illustrates the concept of "greenwashing." So, the correct choice is option A.
Greenwashing refers to the deceptive or misleading marketing practices employed by companies to present their products or services as more environmentally friendly or natural than they actually are.
In this case, the cat food company's marketing department recognized the consumer demand for natural pet food and decided to capitalize on it by changing the labels on the cans. By emphasizing the natural ingredients and intentionally omitting the other ingredients, they create a misleading perception that their product is entirely natural.Greenwashing is a form of marketing manipulation that aims to attract environmentally conscious consumers by providing a false impression of sustainability or naturalness. It can involve various strategies, such as selective labeling, misleading claims, or exaggeration of environmentally friendly features. The intention is to influence consumer perception and purchasing decisions without necessarily making substantial changes to the product itself.However, greenwashing undermines consumer trust and the credibility of companies that engage in such practices, as it can mislead consumers and hinder their ability to make informed choices.
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Outline and describe the different forms of Communication and further explain how they are important in an organization. Provide practical example to support your discussion.
Answers
La comunicación desempeña un papel fundamental en el funcionamiento de una organización, ya que permite la transmisión de información, ideas, instrucciones y retroalimentación entre los miembros del equipo. Existen varias formas de comunicación que se utilizan en un entorno organizacional. A continuación, describiré algunas de las formas más comunes:
Comunicación verbal: Es el uso de palabras habladas para transmitir información. Puede ser en forma de reuniones, conversaciones cara a cara, llamadas telefónicas o videoconferencias. La comunicación verbal es rápida y permite una interacción directa entre las personas, lo que facilita la clarificación de dudas y la resolución de problemas en tiempo real. Por ejemplo, durante una reunión de equipo, los miembros pueden discutir ideas, compartir actualizaciones y tomar decisiones conjuntas.
Comunicación escrita: Implica el uso de palabras escritas para transmitir información. Esto incluye correos electrónicos, mensajes de texto, informes, memorandos y documentos formales. La comunicación escrita es útil cuando se requiere un registro permanente de la información y proporciona la oportunidad de revisar y editar antes de enviar el mensaje. Por ejemplo, un gerente puede enviar un correo electrónico detallando las metas y objetivos del proyecto a su equipo para asegurarse de que todos estén al tanto de las expectativas.
Comunicación no verbal: Se refiere a la transmisión de información sin el uso de palabras. Incluye gestos, expresiones faciales, lenguaje corporal y tono de voz. A menudo, la comunicación no verbal puede transmitir emociones y actitudes que pueden complementar o contradecir el mensaje verbal. Por ejemplo, durante una presentación, el lenguaje corporal de un orador puede transmitir confianza y entusiasmo, lo que refuerza su mensaje.
Comunicación formal: Se lleva a cabo a través de canales oficiales y estructurados dentro de la organización. Esto incluye comunicaciones descendentes, como anuncios y políticas de la gerencia hacia los empleados, así como comunicaciones ascendentes, como informes de estado y retroalimentación de los empleados hacia los superiores. La comunicación formal es importante para establecer líneas claras de autoridad y responsabilidad, así como para garantizar la coherencia en la información transmitida.
Comunicación informal: Se produce a través de interacciones sociales no estructuradas entre los miembros de la organización. Esto puede incluir conversaciones informales en el lugar de trabajo, interacciones en las pausas para el café o discusiones en grupos de chat en línea. La comunicación informal es valiosa para fomentar la camaradería, construir relaciones y facilitar el intercambio de ideas no convencionales. Por ejemplo, en un entorno de trabajo abierto, los empleados pueden compartir ideas innovadoras durante una conversación informal en la sala de descanso.
La importancia de estas formas de comunicación en una organización radica en que permiten la colaboración efectiva, la toma de decisiones informada, la resolución de problemas, la coordinación de tareas y la creación de un ambiente de trabajo positivo. Una comunicación clara y efectiva evita malentendidos, reduce los errores, mejora la productividad y fortalece la cohesión del equipo.
Un ejemplo práctico podría ser una empresa de desarrollo de software. En este caso, la comunicación verbal sería esencial para que los miembros del equipo discutan los requisitos del proyecto, compartan actualizaciones diarias y resuelvan problemas en las reuniones diarias de puesta al día (stand-up meetings). La comunicación escrita sería crucial para documentar los requisitos, especificaciones técnicas y cronogramas del proyecto, así como para enviar correos electrónicos y mensajes de chat con actualizaciones y solicitudes de retroalimentación. La comunicación no verbal también tendría un papel importante, ya que el lenguaje corporal y las expresiones faciales en las reuniones ayudarían a transmitir confianza y apoyo entre los miembros del equipo. En cuanto a la comunicación formal, se utilizarían informes de estado y presentaciones formales para mantener a la alta dirección informada sobre el progreso del proyecto. Por último, la comunicación informal se daría en momentos de descanso, donde los empleados podrían discutir ideas, plantear desafíos y fomentar la creatividad en un ambiente más relajado
Answer:
There are several different forms of communication that are important in an organization. These include:
1. Verbal communication: This is the use of spoken words to convey a message. Verbal communication is important in an organization because it allows employees to communicate with each other and with customers. For example, a salesperson might use verbal communication to explain the features of a product to a customer. Another example is a team meeting where employees discuss project updates and share ideas.
2. Nonverbal communication: This is the use of body language, gestures, and facial expressions to convey a message. Nonverbal communication is important in an organization because it can convey emotions, attitudes, and intentions. For example, a manager might use nonverbal communication to show approval or disapproval of an employee's performance. Another example is a job interview where the interviewer might use nonverbal communication to assess the candidate's confidence and professionalism.
3. Written communication: This is the use of written words to convey a message. Written communication is important in an organization because it provides a permanent record of communication. For example, an email can be used to communicate project updates, deadlines, and other important information. Another example is a report that summarizes the results of a project.
4. Visual communication: This is the use of images, graphs, and other visual aids to convey a message. Visual communication is important in an organization because it can help to simplify complex information and make it easier to understand. For example, a chart can be used to show sales trends over time. Another example is a video that demonstrates how to use a product.
All of these forms of communication are important in an organization because they allow employees to share information, ideas, and feedback. Effective communication can also help to build trust and relationships between employees, customers, and partners. For example, if a customer has a positive experience with a salesperson, they are more likely to return to the organization in the future.
A practical example of the importance of communication in an organization is a team project. Effective communication is essential for the success of the project. Team members need to be able to communicate their ideas, concerns, and progress to each other in order to stay on track and meet deadlines. This might involve verbal communication in team meetings, written communication in project reports, and visual communication in presentations. Without effective communication, the project is likely to fail.
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100.000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. 0.76 points March 1 Issues 60,000 additional shares of $1 par value common stock for $57 per share. May 10 Purchases 5,500 shares of treasury stock for $60 per share. June 1 Declares a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,750 shares of treasury stock purchased on May 10 for $65 per share Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $5,000,000; and Retained Earnings, $2,500,000. Net income for the year ended December 31, 2021, is $650,000.
Required: Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)
Answers
Answer:
Power Drive Corporation
Stockholders' Equity Section
December 31, 2021
Paid in capital:
Common Stock $1 par $160,000
(160,000 shares authorized, 157,250
shares outstanding)
Additional paid in capital, $8,360,000
in excess of par value
Additional paid in capital, $13,750
from Treasury Stock
Total paid in capital $8,533,750
Retained earnings $2,879,625
Sub-total $11,413,375
Treasury Stock ($165,000)
Total Stockholders' Equity $11,248,375
Explanation:
beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000 + $60,000Additional Paid-in Capital, $5,000,000 + $3,360,000 + $13,750Retained Earnings, $2,500,000 + $650,000 - $270,375 treasury stock $330,000 - $165,000Net income for the year ended December 31, 2021, is $650,000.
March 1 Issues 60,000 additional shares of $1 par value common stock for $57 per share.
Dr Cash 3,420,000
Cr Common stock 60,000
Cr Additional paid in capital 3,360,000
May 10 Purchases 5,500 shares of treasury stock for $60 per share.
Dr Treasury stock 330,000
Cr Cash 330,000
June 1 Declares a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
Dr Retained earnings 270,375
Cr Dividends payable 270,375
July 1 Pays the cash dividend declared on June 1.
Dr Dividends payable 270,375
Cr Cash 270,375
October 21 Resells 2,750 shares of treasury stock purchased on May 10 for $65 per share
Dr Cash 178,750
Cr Treasury stock 165,000
Cr Additional paid in capital 13,750
Define the term "compilation engagements" and distinguish between reasonable assurance
engagements and limited assurance engagements.
(8 marks)
Answers
Answer: See explanation
Explanation:
A compilation engagement refers to a form of engagement whereby there's an engagement of an outside accountant by a company for the preparation and the presentation of its financial statements.
In a reasonable assurance engagement, the level of assurance is high. Here, there is the likelihood that the prevention or detection of the material misstatements will not be timely.
The limited assurance engagement refers to the assurance engagement risk being reduced to an acceptable level, but where the risk is still more than the reasonable assurance engagement. Here, less evidence is being collected unlike the reasonable assurance engagement.
.
PLEASE HELP!!!!!!
Type the correct answer in the box.
Spell all words correctly.
George has to present the goals of information management to his team member. What is a goal of information management?
The goal of information management is to identify information requirements for various
levels.
Answers
The goal of information leadership is to identify the information needs of various management levels.
The appropriate and optimised capture, storage, retrieval, and use of information is referred to as information management (IM). It could be personal or organisational information management. IM for organisations refers to a cycle of organisational activity that includes the acquisition of data from one or more sources, the custodianship and distribution of that information to those who require it, and its eventual disposal via archiving or deletion.
This information organisation cycle involves a number of stakeholders, including those responsible for ensuring the quality, accessibility, and utility of acquired information; those responsible for its safe storage and disposal; and those who require it for decision making.
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Calculate the price elasticity of demand for the price range of $9 to $10 & $10 to $15 for movie tickets for on D1. Show all work & formulas. Explain if the range is elastic, inelastic, or unit elastic for each demand curve. Tell me if total revenue would rise, fall, or stay the same for the range given.
Answers
The price elasticity of demand is used to determine how the price of the movie ticket changes with demand
The price range of $9 to $10 is inelastic and the total revenue would fallThe price range of $10 to $15 is inelastic and the total revenue would fallHow to determine the price elasticity of demandThe price elasticity (E) of demand is calculated using:
\(E = \frac{(Q_f -Q_i)/(Q_f +Q_i)}{(P_f -P_i)/(P_f +P_i)}\)
The question is incomplete, as the change in the quantity demanded is not given.
Assume the change is from 125 to 130 for the price range of $9 to $10.
The equation becomes
\(E = \frac{(130 -125)/(130 +125)}{(10 -9)/(10 +9)}\)
\(E = \frac{(5)/(255)}{(1)/(19)}\)
Evaluate
\(E = 0.37\)
The price elasticity of demand is less than 1.
Hence, the range is inelastic and the total revenue would fall
Using the same range for price range of $10 to $15, we have:
\(E = \frac{(130 -125)/(130 +125)}{(15 -10)/(15 +10)}\)
\(E = \frac{(5)/(255)}{(5)/(25)}\)
\(E = 0.09\)
The price elasticity of demand is less than 1.
Hence, the range is inelastic and the total revenue would fall
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A company had beginning assets and liabilities were Rs. 100,000 and Rs. 50,000 respectively.
During the year, the company distributed Rs. 20,000 dividend. At the end of the year, the
company
has doubled its assets and liabilities. Find the net income earned by the company.
Answers
Answer: Rs. 120,000
Explanation:
At the end of the year, both assets and liabilities had doubled. New asset and liability figures are therefore:
Assets = Rs. 200,000
Liabilities = Rs. 100,000
Net income is part of equity and as there is no equity, net income must be the entire equity.
Assets = Equity + Liabilities
200,000 = Equity + 100,000
Equity = 200,000 - 100,000
= Rs. 100,000
From this Net income, dividends were distributed to the tune of Rs. 20,000. This should be added back to see the full figure.
= 100,000 + 20,000
= Rs. 120,000
A manufacturing company is considering two alternative locations for a new facility. The fixed and
variable costs for the two locations are found in the table below. For which volume of business wo
the two locations be equally attractive? If the company plans on producing 50,000 units, which loc
would be more attractive? {7}
Fixed Costs
Variable Costs ($ per unit)
Glen Rose
$1,000,000
25
Mesquite
$1,500,000
23
Answers
Answer:1,000,025
Explanation:if you add all it up you get 1,000,025
one of the most frequently measured ___ is willingness to recommend the service. behavioral intentions customer priorities preferences future expectations individual requirements
Answers
Willingness to suggest the service is one of the behavioral intentions that is most commonly measured.
What does behavioral intention mean?The Theory of Reasoned Action (TRA), which later became the Theory of Planned Behavior (TPB), was developed in 1980 to forecast a person's intention to engage in a behavior at a particular time and location. Any behaviors that humans have the capacity to control can be explained by the notion.
The most important part of this model is behavioral intent, which is impacted by attitudes regarding the likelihood that a behavior will have the desired result and by a subjective assessment of the dangers and advantages of that result.
This relates to the driving forces behind a particular activity, where the more strongly one intends to engage in the conduct, the more probable it is that one will do so.
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Classifying cost behavior classify the total costs of each of the following as variable, fixed, or mixed.
a) Straight-line depreciation on a building
b) Maintenance costs at a hospital
c) Rent on a photocopy machine charged as a fixed amount per month plus an additional charge per copy.
d) Cost of goods sold in a bookstore.
e) Salaries paid to temporary instructors in a college as the number of course sessions varies.
f) Lumber used by a house construction company.
g) The costs of operating a research department
h) The cost of hiring a dance band for three hours
i) Laser printer paper for a department printer
j) Electric power in a restaurant
Answers
No matter how many units you produce or sell, fixed costs remain the same. Variable expenses are straightforwardly attached to your deals and creation.
How does the time horizon affect the cost classification into variable, fixed, and mixed categories?There will be both variable and fixed costs in a shorter time horizon. All costs change over a longer time frame. Over the long haul, all expenses are variable. At least one cost is set in stone for the short term.
a. straight-line building depreciation: fixed .
b . Hospital maintenance costs: mixed .
c.rent for a photocopier, which is a fixed monthly amount plus an additional fee for each copy: mixed .
d. cost of merchandise sold in a book shop : a variable
e. salaries paid to temporary instructors at a college when there are different numbers of course sessions: step .
f. a house construction company uses the following lumber: a variable
g . the operating expenses of a research department: mixed .
h. how much it would cost to hire a dance band for three hours: fixed .
i. paper for a laser printer that is used in a department: a variable
j. restaurant electric power: mixed .
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Step 2. Search to find any summary about the company that mentions funds for starting the business. Try to find any information containing employee data in this section.
Step 3. Find the section where the product or service is detailed. Look to see what kinds of products or services will be involved with the business. Compare this with what other similar business plans are offering.
Record the information you found for steps 2 and 3. Make sure you discuss how the company got money to start the business, employee data, and what products or services the company provides in comparison with what other similar business plans are offering.
Answers
We can see here that such company gotten after searching for company that mentions funds for starting the business is Go-o-gle.
Funds for starting the business: $1 million in funding from Andy Bechtolsheim.
Employee data: over 160,000 employees worldwide.
What is a company?A company is a legal and organizational entity formed by individuals or a group of individuals with the purpose of conducting business activities. It is an association of individuals who come together to engage in commercial, industrial, or professional activities in order to generate revenue and make a profit.
Their products are digital and online services.
Comparing this company, we see Microsoft.
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What does the phrase "Revenue is recognized at the point of sale" mean? a.Revenue is recorded in the accounting records when the goods are received from a supplier and reported on the income statement when sold to the customer. b.Revenue is recorded in the accounting records when the goods are sold to a customer and reported on the income statement when the cash payment is received from the customer. c.Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer. d.Revenue is recorded in the accounting records and reported on the income statement when the cash is received from the customer.
Answers
Answer: C
Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer.
Explanation:
The term revenue recognition at the point of sale refers to the process of recording revenue from manufacturing and selling activities at the time of sale. The revenue recognition principle states a company can record revenue when two conditions are met. They must be realized or realizable, and earned.
Ayala Architects incorporated as licensed architects on April 1, 2017. During the first month of the operation of the business, these events and transactions occurred:
Apr.
1 Stockholders invested $18,000 cash in exchange for common stock of the corporation.
1 Hired a secretary-receptionist at a salary of $375 per week, payable monthly.
2 Paid office rent for the month $900.
3 Purchased architectural supplies on account from Burmingham Company $1,300.
10 Completed blueprints on a carport and billed client $1,900 for services.
11 Received $700 cash advance from M. Jason to design a new home.
20 Received $2,800 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $1,500.
30 Paid $300 to Burmingham Company for accounts payable due.
Required:
Journalize the transactions.
Answers
Answer:
Apr. 1
Dr Cash 18000
Cr Common stock 18000
Apr. 1
No entry
Apr. 2
Dr Rent expense 900
Cr Cash 900
Apr. 3
Dr Supplies 1300
Cr Accounts payable 1300
Apr. 10
Dr Accounts receivable 1900
Cr Service revenue1900
Apr. 11
Dr Cash700
Cr Unearned service revenue700
Apr. 20
Dr Cash 2800
Cr Service revenue 2800
Apr. 30
Dr Salaries and wages expense 1500
Cr Cash1500
Apr. 30
Dr Accounts payable 300
Cr Cash300
Explanation:
Preparation of the journal entries
Apr. 1
Dr Cash 18000
Cr Common stock 18000
Apr. 1
No entry
Apr. 2
Dr Rent expense 900
Cr Cash 900
Apr. 3
Dr Supplies 1300
Cr Accounts payable 1300
Apr. 10
Dr Accounts receivable 1900
Cr Service revenue1900
Apr. 11
Dr Cash700
Cr Unearned service revenue700
Apr. 20
Dr Cash 2800
Cr Service revenue 2800
Apr. 30
Dr Salaries and wages expense 1500
Cr Cash1500
Apr. 30
Dr Accounts payable 300
Cr Cash300
Which best describes an employer of Consumer Services workers? O a manager of a retail store a principal of a private school O a worker in a spa an archbishop in a church
Answers
A manager of a retail store and a principal of a private school, Best describes an employer of Consumer Services workers.
What are customers?A client is a person who purchases goods, services, or ideas from a seller, vendor, or supplier in exchange for money or another useful consideration. This definition applies to sales, commerce, and economics.
An individual or business that purchases goods or services from another company is known as a customer. Customers are crucial to businesses because they generate income; without them, they would cease to exist.
Customers' queries and worries should be heard, and any necessary responses should be given. Describe items and services in detail. Take orders, compute costs, and handle invoicing or payment processing. Examine customer accounts and make any required adjustments.
Therefore, option (A) is correct.
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Taxable income shouls be $70,000
Answers
The taxable income to Inge Manufacturers Inc. in 2019, given the different income - tax related circumstances, is $ 70, 000.
How to find the taxable income ?The taxable income to Inge Manufacturers, Inc. for the year 2019 can be found by the formula:
= Earnings before taxes - Amount paid to independent contractors + Payment that violated FCPA - charitable deduction from 2017 - Amortization of goodwill expense
The charitable deduction from 2017 will be:
= ( Charitable contribution x ( 1 - Deduction percentage in 2017 ) ) / 3 years
= ( 24, 000 x ( 1 - 1 / 4 ) ) / 3 years
= $6, 000
The taxable income to Inge Manufacturers would therefore be:
= Earnings before taxes - Amount paid to independent contractors + Payment that violated FCPA - charitable deduction from 2017 - Amortization of goodwill expense
= 106, 000 - 47, 000 + 40, 000 - 6, 000 - 23, 000
= $ 70,000
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Divac’s preferred stock is $100 par, 8% stock. If the stock is liquidated or redeemed, stockholders are entitled to $120 per share. There are no dividends in arrears on the stock. The common stock has a par value of $10 per share. Assume that the common stockholders have a right to the total net income of $74,000.
Answers
Answer:
1. 59.21%
2. $15.98
Explanation:
Note: The table is attached as picture below
Required: "1. Determine the dividend payout ratio for the common stock 2. Determine the book value per share of Divac’s common stock."
1. Dividend Payout Ratio = Cash Dividend / Net Income * 100
Dividend Payout Ratio = 45,000 / 76,000 * 100
Dividend Payout Ratio = 59.21052631578947%
Dividend Payout Ratio = 59.21%
2. Number of Shares for Preferred Stock = Total Value of Preferred Stock / Par Value Per Share of Preferred Stock
Number of Shares for Preferred Stock = 110,000 /100
Number of Shares for Preferred Stock = 1,100
Liquidation Value of Preferred Stock = Number of Shares of Preferred Stock * Liquidation Price Per Share
Liquidation Value of Preferred Stock = 1,100 * 120
Liquidation Value of Preferred Stock = 132,000
Total Stockholders' Equity ′ = Preferred Stock + Paid in Capital Preferred + Common Stock + Paid in Capital Common + Retained Earnings
Total Stockholders' Equity = 110,000 + 55,000 + 500,000 + 50,000 + 216,000
Total Stockholders' Equity = 931,000
Net Assets Applicable to Common Stock = Total Stockholders' Equity - Liquidation Value of Preferred Stock
Net Assets Applicable to Common Stock = 931,000 - 132,000
Net Assets Applicable to Common Stock = 799,000
Number of Shares of Common Stock = Total Value of Common Stock / Par Value Per Share of Common Stock
Number of Shares of Common Stock = 500,000 / $10
Number of Shares of Common Stock = 50,000
Book Value Per Share = Net Assets Applicable to Common Stock / Number of Shares of Common Stock Net Assets Applicable to Common Stock
Book Value Per Share = 799,000 / 50,000
Book Value Per Share = $15.98
So therefore, the Book Value Per Share is $15.98 per share
Fixed costs are _____.
costs that increase regardless of how much of a good or service is produced
costs that stay the same regardless of how much of a good or service is produced
costs that decrease regardless of how much of a good or service is produced
none of the above
Answers
Answer:
costs that stay the same regardless of how much of a good or service is produced
Explanation:
In the short run, fixed costs are the expenses that do not change regardless of the output level. In other words, fixed costs remain a constant amount throughout the financial period. Examples of fixed costs include rent, administrative salaries, insurance, and loan repayments. These amounts will be the same irrespective of production levels.
Fixed costs contrast with variable costs that vary depending on the output level.
Bau Long-Haul, Inc., is considering the purchase of a tractor-trailer that would cost $432,605, would have a useful life of 7 years, and would have no salvage value. The tractor-trailer would be used in the company's hauling business, resulting in additional net cash inflows of $77,500 per year. The internal rate of return on the investment in the tractor-trailer is closest to (Ignore income taxes.):____.
a. 15%.
b. 54%.
c. 17%.
d. 12%.
Answers
Answer:
6%
Explanation:
The computation of the internal rate of return is shown below:
We know that
Initial investment = Annual cash inflows × PVIFA factor (rate,nper)
$432,605 = $77,500 × PVIFA(rate,7)
PVIFA(rate,7) = $432,605 ÷ $77,500
PVIFA (rate,7) = 5.582
Now we use the PVIFA table
So here the rate that should be considered is 6%
Use the following data to compute total manufacturing costs for the month:
Sales commissions $ 12,100
Direct labor 40,900
Indirect materials 16,500
Factory manager salaries 8,500
Factory supplies 10,300
Indirect labor 7,600
Depreciation—office equipment 6,300
Direct materials 41,800
Corporate office salaries 43,800
Depreciation—factory equipment 8,800
Answers
Answer:
total manufacturing costs for the month is $134,400
Explanation:
To compute total manufacturing costs for the month consider only the costs that are factory related.
total manufacturing costs for the month : calculation.
Direct labor 40,900
Indirect materials 16,500
Factory manager salaries 8,500
Factory supplies 10,300
Indirect labor 7,600
Direct materials 41,800
Depreciation—factory equipment 8,800
Total manufacturing costs 134,400
Therefore, total manufacturing costs for the month is $134,400
In two to three sentences, answer the following:
What is the most important information you need to receive a stock quote?
What information you can obtain from a stock quote?
Answers
The most important information needed to receive a stock quote is the ticker symbol of the specific stock.
From a stock quote, you can obtain various information about the stock, including the current price of the stock, the trading volume (number of shares traded), the bid and ask prices (the prices at which buyers are willing to buy and sellers are willing to sell), the day's high and low prices, the previous close price, and the percentage change in price from the previous trading session.
Additionally, some stock quotes may provide additional data such as the company's market capitalization, dividend yield, and earnings per share.
Stock quotes provide a snapshot of a stock's performance in the market and are important for investors to make informed decisions regarding buying or selling stocks. They allow investors to track the price movements and trends of a particular stock and assess its potential value and risks.
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Which of the outcomes in are most appealing to you? Are you more attracted to extrinsic outcomes or intrinsic outcomes?
Answers
Extrinsic outcomes are external rewards such as money, status, or recognition that come from achieving a goal. These outcomes are appealing to some individuals because they provide tangible benefits and can be easily measured by others.
On the other hand, intrinsic outcomes are internal rewards such as personal satisfaction, a sense of accomplishment, or personal growth that come from achieving a goal. These outcomes are appealing to some individuals because they provide a deeper sense of fulfillment and can be more meaningful in the long-term.
Ultimately, whether someone is more attracted to extrinsic or intrinsic outcomes depends on their personal values and goals. Some people may prioritize external rewards and seek to maximize their income or social status, while others may prioritize personal growth and seek to achieve goals that align with their passions and values.
It is important to strike a balance between both types of outcomes and to find a sense of purpose and satisfaction in the goals that we pursue.
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In order to be a long-term Bravo, you must
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Principals who Build Relationships with Actions that Value Others (BRAVO) face challenges throughout the school day when there are several opportunities to behave bravely.
What is Bravo ?Even if our everyday acts of bravery might not be as significant as some other brave acts, they could serve as inspiration for more daring ones in the future, just as Benjamin Roberts' initial, trembling steps eventually changed public education for good.
On our campuses, there are several easy methods to develop connections that appreciate people, but each one demands a brave commitment from the principal. Indeed, without bravery, educational leaders degenerate into administrative guards and mere technicians, according to Jeffrey Glanz in Finding Your Leadership Style: A Guide for Educators.
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A company has two factories, one in the UK and one in the Germany. There is a view that the German factory is more efficient than the British one, and to test this, a random sample is selected from each of the factories. The British sample consists of 20 workers who takes an average of 25 minutes to complete a standard task. Their standard deviation is five minutes. The German sample has 15 workers who take an average of 20 minutes to complete the same task, and the sample has a standard deviation of four minutes. Use an appropriate hypothesis test, at the 1% level of significance to find if the German workers are more efficient.
Answers
Since our calculated Z-value is greater than the critical value, we can reject the null hypothesis. As a result, it can be said that there is evidence to suggest that the German workers are more efficient than the British workers.
Hypothesis testing is a statistical analysis technique that helps researchers make decisions about hypotheses related to the sample data collected from a population. Hypothesis testing is a four-step process that begins with a statement of the null hypothesis and the alternative hypothesis. The significance level, test statistics, and critical values are then calculated, followed by the conclusion. A company has two factories, one in the UK and one in Germany. To test whether the German factory is more efficient than the British factory, a random sample was chosen from each of the factories. The British sample is composed of 20 employees who take an average of 25 minutes to complete a standard task. Their standard deviation is five minutes. The German sample consists of 15 employees who take an average of 20 minutes to complete the same task. The sample has a standard deviation of four minutes. At the 1% significance level, use an appropriate hypothesis test to determine if the German employees are more efficient. In this scenario, the null hypothesis H0: μUK = μGermany and the alternative hypothesis Ha: μUK > μGermany will be used since we want to determine if the German workers are more efficient.
The hypothesis testing can be carried out by using the Z-test statistic, since we know the population standard deviation. So, the formula for Z-score is;$$z=\frac{(\bar x_1 - \bar x_2) - (\mu_1 - \mu_2)}{\sqrt{\frac{\sigma_1^2}{n_1}+\frac{\sigma_2^2}{n_2}}}$$Where, $\bar x_1$ and $\bar x_2$ are the sample means, $\mu_1$ and $\mu_2$ are the population means, $n_1$ and $n_2$ are the sample sizes, $\sigma_1$ and $\sigma_2$ are the standard deviations of the two populations, respectively.
Substituting the given values, we get;$$z=\frac{(20-15)-0}{\sqrt{\frac{5^2}{20}+\frac{4^2}{15}}}=3.06$$At a significance level of 1%, the critical value for the one-tailed test is 2.33.
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Opportunity cost is _____.
the cost of business itself
the cost of travel, entertainment and other activities that provide an opportunity for recreation
the cost of an alternative product or service that cannot be acquired because the available funds were used for another purpose
none of the above
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Opportunity cost is the cost of an alternative product or service that cannot be acquired. Opportunity cost is frequently referred to as the second-best option.
The loss of gain that would have been realised if a different option had been chosen is sometimes product referred to as the alternative cost. The loss of benefit as a result of a change in choice is another way to explain it. The value of the next-highest-valued alternative use of a resource is what economists mean when they talk about its "opportunity cost." You cannot, for instance, read a book at home during the time you would have spent seeing a movie and spend the money you would have spent on something else.
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Select the correct answer from the drop-down menu. Which financial disasters led to the passage of two important Acts in the United States? The stock market crash in 1929, led to the passage of Act. Act of 1933 and 1934, and the Enron Scandal led to
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A federal law known as the Securities Act of 1933 was passed as a response of the 1929 stock market disaster.
What did the 1933 and 1934 act entail?The Act of 1933 was followed by the Securities Exchange Act of 1934. In order to enforce government regulations governing the trading of securities, the SEC was established by the 1934 law. The SEC now has the power to oversee and regulate brokerage companies, self-regulatory organizations, transfer agents, and clearing agents as a result of the new law's enactment.
What distinguishes the Securities Exchange Act of 1934 from the Securities Act of 1933?The 1933 Act controls how securities are purchased and registered. The 1934 Act controls trading in certain securities after they are issued. The Securities Exchange Commission oversees both.
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Cash flows {(-1000.0)(1000.1)(2000.3)} , i-4%, the present value is calculated according to the formula:
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The present value (PV), which is determined by the fοrmula FV / (1 + r)ⁿ, is the current value οf a future financial asset οr stream οf cash flοws, with a specific rate οf return.
What is the present value?Present value (PV) is the current value οf a future financial asset οr stream οf cash flοws with a specific rate οf return.
The present value is calculated by applying a discοunt rate οr the interest rate that cοuld be attained thrοugh investing tο the future value.
A sum οf mοney's present value is hοw much it is wοrth tοday.
The value οf a sum οf mοney tοday is knοwn as its present value.
Fοr instance, if yοu are prοmised $110 in a year, the present value is what that $110 is currently wοrth.
Fοrmula: Present Value (PV) = FV / (1 + r)ⁿ
Future Value is alsο knοwn as FV, the present value, οr PV.
I is the interest rate οr οther pοtential return οn the investment.
t is the number οf years that must be taken intο accοunt.
Therefοre, the present value (PV), which is determined by the fοrmula FV / (1 + r)ⁿ, is the current value οf a future financial asset οr stream οf cash flοws, with a specific rate οf return.
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Complete question:
Cash flows {(-1000.0)(1000.1)(2000.3)} , i-4%, the present value is calculated according to the formula: _____
Which are included in a customer profile?
Select all that apply.
A.)social media messages
B.)socioeconomic status
C.)promotions and prices
D.)attitudinal and behavioral details
E.)marketing strategies
F.)demographic information
Answers
Hey there!
I would say the answers are B, C, F
The others do not seem like something that would be in a customer profile.
Hope it helps and have a great day!