transactions for fixed assets, including sale the following transactions and adjusting entries were completed by robinson furniture co. during a three-year period. all are related to the use of delivery equipment. the double-declining-balance method of depreciation is used. year 1 jan. 8. purchased a used delivery truck for $24,000, paying cash. mar. 7. paid garage $900 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck. dec. 31. recorded depreciation on the truck for the fiscal year. the estimated useful life of the truck is four years, with a residual value of $4,000 for the truck. year 2 jan. 9. purchased a new truck for $50,000, paying cash. feb. 28. paid garage $250 to tune the engine and make other minor repairs on the used truck. apr. 30. sold the used truck for $9,500. (record depreciation to date in year 2 for the truck.) dec. 31. record depreciation for the new truck. it has an estimated residual value of $12,000 and an estimated life of eight years. year 3 sept. 1. purchased a new truck for $58,500, paying cash. sept. 4. sold the truck purchased january 9, year 2, for $36,000. (record depreciation to date for year 3 for the truck.) dec. 31. recorded depreciation on the remaining truck. it has an estimated residual value of $16,000 and an estimated useful life of 10 years. required: journalize the transactions and the adjusting entries. if an amount box does not require an entry, leave it blank. do not round intermediate calculations. year 1, jan. 8 delivery truck delivery truck 24,000 delivery truck cash cash cash 24,000 mar. 7 truck repair and maintenance expense truck repair and maintenance expense 900 truck repair and maintenance expense cash cash cash 900 dec. 31 depreciation expense-delivery truck depreciation expense-delivery truck depreciation expense-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck year 2, jan. 9 delivery truck delivery truck 50,000 delivery truck cash cash cash 50,000 feb. 28 truck repair and maintenance expense truck repair and maintenance expense 250 truck repair and maintenance expense cash cash cash 250 apr. 30 deprec. depreciation expense-delivery truck depreciation expense-delivery truck depreciation expense-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck apr. 30 sale accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck cash cash 9,500 cash loss on sale of delivery truck loss on sale of delivery truck loss on sale of delivery truck delivery truck delivery truck delivery truck dec. 31 depreciation expense-delivery truck depreciation expense-delivery truck depreciation expense-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck year 3, sept. 1 delivery truck delivery truck 58,500 delivery truck cash cash cash 58,500 sept. 4 deprec. depreciation expense-delivery truck depreciation expense-delivery truck depreciation expense-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck sept. 4 sale cash cash cash accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck delivery truck delivery truck delivery truck gain on sale of delivery truck gain on sale of delivery truck gain on sale of delivery truck dec. 31 depreciation expense-delivery truck depreciation expense-delivery truck depreciation expense-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck accumulated depreciation-delivery truck

The liquidity ratios are 4.46 times for the current ratio and 4.25 times for the quick ratio. The coverage ratios are 44.47 times for the times interest earned ratio and 51.69 times for the cash coverage ratio.

Current Ratio = Current Assets / Current Liabilities

Current Assets = Net Sales

Current Liabilities = Selling, general and administrative expenses + Current portion of long-term debt + Income taxes payable

Current Liabilities = $983,558,423 + $0 + $473,184,956

Current Ratio = $6,492,712,000 / $1,456,743,379

Current Ratio = 4.46 times

Quick Ratio = (Current Assets - Inventory) / Current Liabilities

Inventory = Cost of goods sold - Gross profit

Inventory = $3,390,963,940 - $3,101,748,060

Inventory = $289,215,880

Quick Ratio = ($6,492,712,000 - $289,215,880) / $1,456,743,379

Quick Ratio = 4.25 times

Times Interest Earned = Earnings Before Taxes / Interest Expense

Times Interest Earned = $1,785,419,021 / $40,099,500

Times Interest Earned = 44.47 times

Cash Coverage = (Earnings Before Taxes + Depreciation) / Interest Expense

Cash Coverage = ($1,785,419,021 + $292,671,116) / $40,099,500

Cash Coverage = 51.69 times.

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The correct option is 124.4 days.The days' sales in inventory formula is: Days' Sales in Inventory (DSI) = (Average Inventory / Cost of Goods Sold) * 365 days/year

Given the values given in the question:Cost of Goods Sold = $11,121 millionEnding Inventory = $3,789 millionAverage Inventory = $2,135 millionThe formula for days' sales in inventory can be calculated as:

DSI = (Average Inventory / Cost of Goods Sold) * 365 days/yearDSI = ($2,135 million / $11,121 million) * 365 days/yearDSI = 0.192 * 365 days/yearDSI = 70 daysHence, the answer is 124.4 days.

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Answer:

$3.4

Explanation:

The computation of the after-tax amount that received from dividend is shown below:

The Dividend is $4 per share

And, the tax on dividend is 15%

So, after tax amount after receiving the dividend is

= dividend - dividend × tax on dividend

= $4 - $4 × 15%

= $4 - $0.6

= $3.4

It is to be paid by the corporation it is not the liability of an investor

Answer: comparing things found in nature

Explanation:

Naturalistic learning involves the use of natural elements such as animals, plants, natural events and the environment in general to learn about various concepts.

People who would prefer this style of learning prefer to learn outdoors and are usually found comparing things found in nature to other things regardless of if they are indoors or outdoors. The strong attraction they feel to nature allows them to harness this learning style more effectively.

Answer:

comparing things found in nature

Explanation:

i got it right on my test

Tomorrow, volunteering for a cause would result in a greater overall sense of enjoyment than spending the day in front of the television.

An investor is what? The market participant most frequently associated with the stock market by the general public is an investor. Investors are people who buy stock in a business with the intention of holding it for a long time and who are certain it has promising future possibilities.

You do not control anything as a loan investor. You having made an ownership stake if you purchase stock in a corporation. You will receive a return according to your proportionate share of the company's profits. The original investment sum will always be linked to the overall worth of the business.

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The total percentage rate of return in dollars for this investment is 26.5%.(D)

The total percentage rate of return in dollars for this investment can be calculated by using the formula given below:

Total Percentage Rate of Return in Dollars = [(Ending Value - Beginning Value)/Beginning Value] × [(Beginning Exchange Rate)/Ending Exchange Rate] × 100

Where:Beginning Value is the price of the stock at the beginning of the year.Ending Value is the price of the stock at the end of the year.

Beginning Exchange Rate is the exchange rate at the beginning of the year.Ending Exchange Rate is the exchange rate at the end of the year.Given,Beginning Value = $100

Ending Value = $115

Beginning Exchange Rate = $1.00 per Euro

Ending Exchange Rate = $1.10 per Euro

Substituting these values in the formula, we get:Total Percentage Rate of Return in Dollars = [(115 - 100)/100] × [(1.00)/1.10] × 100= 15% × 0.91 × 100= 13.65%

Therefore, the total percentage rate of return in dollars for this investment is 13.65% or approximately 26.5%.(D)

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Answer:

Federal Reserve banks are exempt from paying taxes at the federal, state and local levels, except on real estate holdings. This is because of rules on taxation set forth in Section 7(c) of the Federal Reserve Act.

Explanation:

Answer:

Note: The full question is attached as picture below

1. Cost of goods sold = Beginning inventory + Purchase - Ending inventory

If FIFO method is used,then beginning and ending inventory will increase. Increase in beginning inventory will increase the cost of goods sold. Increase in ending inventory will decrease the cost of goods sold.

Cost of goods sold under FIFO = $31049 + $2139 - $1934 = $31,254

2. Cost of goods sold under LIFO = $31049

Cost of goods sold under FIFO = $31254

Increase in cost of goods sold = $31254 - $31049 = $205

Increase in cost of goods sold will decrease the income before taxes

Decrease in income before taxes = $205

An account in which a customer deposits money for a set period of time in return for a fixed rate is called a: C. certificate of deposit.

A certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account that is typically issued by a financial institution (bank) to its customers, wherein an amount of money (lump-sum) are left with the bank for a specific period of time, in exchange for a fixed interest rate premium.

This ultimately implies that, a certificate of deposit (CD) pays a higher interest rate to its holder (customer) than other regular savings account and money market account because banks usually invest this money (lump-sum) in a business, so as to make profit.

Additionally, a bank's certificate of deposit (CD) is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000, which typically makes it somewhat safer than other investment options.

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The overvaluation of Echo Farm Supply's stock makes it less likely to attract a hostile takeover bid, as the higher trading price indicates the market believes it is worth more than the consensus value. However, other factors may also come into play.

Given that the consensus among market analysts is that Echo Farm Supply's stock should trade for $30 per share, and the current trading price is $35 per share, it suggests that the stock is currently overvalued. In general, an overvalued stock is less likely to attract a hostile takeover bid.

Hostile takeovers usually occur when a company's stock is undervalued, as the acquirer sees an opportunity to purchase the company at a lower price than its actual worth. In this case, the higher trading price indicates that the market believes the stock is worth more than the consensus value.

However, it's important to note that hostile takeovers can also be driven by factors other than the stock price, such as strategic advantages or potential synergies. While the overvaluation may make a hostile takeover bid less likely, it doesn't completely rule out the possibility. Other factors would also need to be considered.

In conclusion, based on the current overvaluation of Echo Farm Supply's stock, it is less likely to receive a hostile takeover bid.

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Answer:

sup

Explanation:

G.S.I. - Gross Scheduled Income, includes total rent for the occupied space plus potential rent payable for any vacant space and G.O.I - Gross Operating Income, is calculated by adding any vacancy/ credit loss from Gross Scheduled Income, here both statement is true then The correct answer is option (1).

Gross Scheduled Income (GSI) includes the total rent for the occupied space as well as the potential rent payable for any vacant space. In simpler terms, GSI is the maximum income a property could potentially generate if all of its units were rented out. This figure is typically used by property owners and investors to evaluate the property's overall potential income.

Gross Operating Income (GOI) is calculated by adding any vacancy or credit loss from GSI. This figure represents the actual income generated by the property after taking into account any vacant units or credit losses due to tenant defaults. GOI is a more accurate measure of a property's income and is often used by investors to determine the property's profitability.

Therefore, both GSI and GOI are important figures that provide insight into the potential and actual income of a property. Understanding both figures can help property owners and investors make informed decisions about their investments and ensure they are maximizing their potential income.

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Answer: context

Explanation:

The factor that has most likely influenced Downing's perception of Law is context.

Context refers to the situation for the occurence of a event. It's vital to look at the circumstances that were present at the time of the behavior of a person when attempting to understand the person's behavior.

Assuming both of them were part of team meetings where almost all member gave their own suggestions, then Law would not have drawn as much attention from Downing.

Krj corporation competes within the publishing industry by focusing on market development, product development, innovation and joint ventures. this is an example of a(n) Internal growth  strategy.

Internal growth strategy aims to increase revenue by optimising internal business processes. This strategy, like organic growth, relies on companies using their own internal resources. Internal growth strategy focuses on making the most of existing resources. Internal growth is another term for organic growth. It occurs when a company broadens its own operations instead of relying on acquisitions and mergers. Increased existing production capability through investment in new capital and technology can result in organic growth.

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Answer:

the supplies expense for the current year is $780

Explanation:

The computation of the supplies expense is shown below:

= Beginning supplies balance + purchase made - ending supplies balance

= $300 + $500 - $20

= $780

hence, the supplies expense for the current year is $780

The same should be considered and relevant

And the above formula should be applied for the same

Answer:

The editor describes the layout of the screen.

Answer:

False

Explanation:

it cost roughly around 5k to produce 100k+ books and they make roughly 65k

Answer: B: The trend toward hiring temporary workers is up

Explanation: A temporary help agency could be explained as an establishment which offers workers to its client's for temporary use or need. The client notifies the agency of its need for temporary workers and the agency does as required. The temporary help agency business could be seen as a good business to establish due to the rising demand for temporary workers by organization in other to reduce the number of permanent personnel their payroll. This logic ensures that these organizations reduce the cost of salaries and benefits of their employees.

The job description contains sufficient information to describe major responsibilities and essential functions as they exist today. They provide the information necessary to classify the position, not the person; thus they are “incumbent neutral” and not based on any specific quality of an incumbent (such as knowledge, skills, abilities, performance, dedication, loyalty, years of service, or degree). The document should not include every detail of how and what work is performed so that it remains useful even when minor changes occur. Job descriptions can be written as a joint effort between supervisor and employee, but the supervisor must approve.

Restricted stock typically allows executives ownership of the stock after a vesting period, which can vary depending on the terms of the agreement.

The vesting period is the length of time an employee must work for the company before gaining full ownership of the restricted stock. Vesting schedules can vary, but common vesting periods range from 1 to 5 years.

Once the vesting period has elapsed, the restrictions on the stock are lifted, and the executive can exercise ownership rights, including the ability to sell the stock or hold onto it as an investment.

It is worth noting that restricted stock is different from stock options, which give executives the right to purchase company stock at a predetermined price within a specified period.

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The total cost of the ending work in process inventory in the milling department is $39,200

Given,

Total cost of beginning work in process inventory = $10,000  $15,000 $25,000

Costs added during the period = $291,600  $385,000  $676,600

Total cost = $301,600  $400,000  $701,600

Thus, the computation of the total cost of ending work in process is shown below:

Equivalent cost per unit

Material = $301,600 ÷ 5,200 units  = $58 per unit

Conversion = $400,000 ÷ 5,000 units = $80 per unit

Now, ending work in process is calculated below-

= 400 units × $58 + 200 units × $80

= $23,200 + $16,000

= $39,200

Hence, the total cost of ending work in process is $39,200.

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1. True. Even if one country has an absolute advantage in the production of all goods, both countries can still benefit from trade if the other country has a comparative advantage in the production of certain goods.

2. False. Even the most talented people are not good at everything but they might be better at some things than others, but they cannot be excellent at everything.

3. False. Trade can be beneficial for both parties involved. 

4. False. Trade can be beneficial for one party but not necessarily for the other. 

5. False. International trade can have negative consequences for certain groups of people.

Diet pills  product or service could accurately be described as a deficit product. A trade deficit occurs when a nation imports goods from other nations while also paying import taxes because it cannot produce everything it needs.

The current action deficit refers to this. It can also happen when businesses are engaged in the production of goods in another nation. A government runs a budget deficit product when it spends more in a given year than it brings in through taxes, for example. As a straightforward illustration, consider a government that receives $10 billion in revenue one year but spends $12 billion, creating a $2 billion deficit.

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Answer:

Positive ROI

Explanation:

Education is probably the best investment that someone can make. It is not easy and it is not nice, but it can help you have a better life and better future.

In this case, Luis spent money in order to get his certificate in repairing air conditioners. He studied 6 months and probably took a test to pass it. After passing it, he owes money which is not good. But the great part is that Luis is now earning much more money than before. His better salary will allow him to pay his loan in 2 years, which is a a short time. Imagine if you could pay your college loans in just 2 years (the average time is 20 years).

The kind of return on investment that Luis who repairs air conditioners demonstrates is Positive ROI.

Positive ROI applies when the net gain of taking a certain financial decision is greater than any costs that might have been encountered.

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There are different kinds of firms. In business, a group of people who work together in an attempt to achieve some specific purpose is known as an organization.

An organization is regarded as a combination or a group of people that are said to be working together such as an association, a charity, a union, etc.

The word organization also connote a group or business, or to the process establishing something.

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Answer:

D

Explanation:

Answer:

car sales person.

Explanation:

they make commission on every sale they make

Private property rights  and market is  in which people buy and sell resources or goods and services.

Private property rights are the rights of individuals and groups to own property and the market is any place or situation in which people buy and sell resources and goods and services.

Laissez-faire and capitalism-The relation-ship between laissez-faire and capitalism is laissez-faire is an economic philosophy of free-market capitalism that opposes government intervention.

Specialization and profit- The relation-ship between specialization and profit is the companies specialize in making one product or one component of a product, if this product will make at large scale, companies reduces it's cost to earn profit.

Factor market and product market-  The relation-ship between Factor market and product market is the factor market is running by the demand of product market. The product market is sold their goods and services with the demand of factor market to production these goods and services.

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Answer:

recover from Big Dig for breach of warranty.

Explanation:

I. The given instance Arnold makes a purchase of a backhoe from Big Dog Equipment, being unaware that Credit collection company is holding a lien on the equipment.

A lien is the ability of a entity to take ownership of a property pending when a debt is repaid.

The backhoe was sold without disclosing this to Arnold. So he can recover from Big Daddy because false information about the product was provided at the time of purchase