Answer:
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Smith and Sons, Inc. Income Statement (in millions)
2016 2015
Net sales 10,300 9,800
Cost of goods sold (5,500) (5,200)
Gross profit 4,800 4,600
Selling and administrative expenses (2,800) (2,700)
Income from operations 2,000 1,900
Interest expense (300) (250)
Income before income taxes 1,700 1,650
Income tax expense (420) (400)
Net income 1,280 1,250
Smith and Sons, Inc. Balance Sheet
Assets
Current assets
Cash and cash equivalents 450 650
Accounts receivable 900 800
Inventory 750 900
Other current assets 400 250
Total current assets 2,500 2,600
Property, plant & equipment, net 2,350 2,250
Other assets 5,700 5,900
Total Assets 10,550 10,750
Liabilities and Stockholders' Equity
Current liabilities 3,250 3,150
Long-term liabilities 5,000 5,400
Total liabilities 8,250 8,550
Stockholders' equity-common 2,300 2,200
Total Liabilities and Stockholders' Equity 10,550 10,750
Required:
Calculate the quick ratio for Smith & Sons, Inc., for 2015 and 2016.
Answer:
2015 Quick Ratio 0.54
2016 Quick Ratio 0.54
Explanation:
Calculation to determine the quick ratio for Smith & Sons, Inc., for 2015 and 2016
Using this formula
Quick Ratio = Quick assets/Current liabilities
Let plug in the formula
2015 Quick Ratio = (2,600-900)/3150
2015 Quick Ratio= 0.54
2016 Quick Ratio = (2500-750)/3,250
2016 Quick Ratio = 0.54
Therefore the quick ratio for Smith & Sons, Inc., for 2015 is 0.54 and 2016 is 0.54
how can a writer be grief when writing professional letters
A. By adding a writer be brief when writing professional letters
B. By adding background information
C. By avoiding words that end in " Ize or ton"
D. By writing a concise letters that addresses your purpose
Answer:
D. By writing a concise letters that addresses your purpose
Explanation:
Got it right.
Dwyer Company reported the following results for the year ended December 31, 2007, its first year of operations: 2007 Income (per books before income taxes) $ 1,500,000 Taxable income 2,400,000 The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2008. What should Dwyer record as a net deferred tax asset or liability for the year ended December 31, 2007, assuming that the enacted tax rates in effect are 40% in 2007 and 35% in 2008?
Answer: $315,000 deferred tax asset
Explanation:
The amount that Dwyer should record as a net deferred tax asset or liability for the year ended December 31, 2007 will be calculated thus:
= ($2400000 – $1500000) × 35%
= $900000 × 35%
= $900000 × 35/100
= $900000 × 0.35
= $315000.
Therefore, the answer is $315,000 deferred tax asset
Part of the screening process when choosing which markets to expand to involves gathering information on local markets. One way to gain information is by participating in trade fairs and trade missions. However, companies will often need additional information on markets that require further research. Collecting primary data in foreign markets can present some challenges in researchers especially because of cultural and technical differences between the markets. Identify whether each statement about the research process is most kikely to be associated with cuftural differences between markets or technical differences.
a. The meaning of words can change from one region to another.
b. Research instruments may need to be translated.
c. Social desirability bias may exist.
d. Street signs may be unreadable.
e. Mail service may be unreliable.
1. Cultural Differences
2. Technical Differences
Answer:
Cultural and Technical Differences Between Markets
a. Cultural
b. Cultural
c. Cultural
d. Technical
e. Technical
Explanation:
1. Cultural Differences: Cultural differences are the unique beliefs, behaviors, languages, practices, and expressions arising from differences in ethnic, racial, or national origins. For example, if the researcher is not versed in the local language, the research instruments or the researcher's answers will require translation.
2. Technical Differences: These differences arise from educational, legal, scientific, engineering, and business practice differences. For example, the "street signs may be unreadable" because there are no updated maps.
Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.4 million cash on October 1, 2021, to provide working capital for anticipated expansion. Precision signs a one-year, 9% promissory note to Midwest Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end.
Required:
a. Prepare the journal entries on October 1, 2021, to record the issuance of the note.
b. Record the adjustments on December 31, 2021.
c. Prepare the journal entries on September 30, 2021, to record payment of the notes payable at maturity.
Answer:
a. Precision Castparts
Dr Cash $39.4 million
Cr Notes Payable $39.4 million
Midwest Bank
Dr Notes Receivable $39.4 million
Cr Cash $39.4 million
b. Precision Castparts
Dr Interest expense $886,500
Cr Interest payable $886,500
Midwest Bank
Dr Interest receivable $886,500
Cr Interest revenue $886,500
c. Precision Castparts
Dr Notes payable $39.4 million
Dr Interest expense $2,659,500
Dr Interest payable $886,500
Cr Cash $42,946,000
Midwest Bank
Dr Cash $42,946,000
Cr Notes receivable $39.4 million
Cr Interest revenue $2,659,500
Cr Interest receivable $886,500
Explanation:
a. Preparation of the journal entries on October 1, 2021, to record the issuance of the note.
Precision Castparts
Dr Cash $39.4 million
Cr Notes Payable $39.4 million
Midwest Bank
Dr Notes Receivable $39.4 million
Cr Cash $39.4 million
b. Preparation of the journal entry to Record the adjustments on December 31, 2021.
Precision Castparts
Dr Interest expense $886,500 ($39.4 million x 9% x 3/12)
Cr Interest payable $886,500
Midwest Bank
Dr Interest receivable $886,500
Cr Interest revenue $886,500
($39.4 million x 9% x 3/12)
c. Preparation of the journal entries on September 30, 2021, to record payment of the notes payable at maturity.
Precision Castparts
Dr Notes payable $39.4 million
Dr Interest expense $2,659,500($39.4 million x 9% x 9/12)
Dr Interest payable $886,500
($39.4 million x 9% x 3/12)
Cr Cash $42,946,000
($39.4 million+$2,659,500+$886,500)
Midwest Bank
Dr Cash $42,946,000
($39.4 million+$2,659,500+$886,500)
Cr Notes receivable $39.4 million
Cr Interest revenue $2,659,500($39.4 million x 9% x 9/12)
Cr Interest receivable $886,500
($39.4 million x 9% x 3/12)
Lester sold a warehouse with an original cost of $150,000 for $230,000. The warehouse had accumulated depreciation of $40,000. The recognized gain on the sale was $ . The amount of the gain that is unrecaptured Section 1250 gain is $ and will be taxed at a maximum rate of percent. The remaining $ will be taxed at a maximum rate of 20%.
Answer:
Recognized Gain:
= Selling price - Net book value
= 230,000 - (150,000 - 40,000)
= $120,000
The amount of the gain that is unrecaptured Section 1250 gain:
= Selling Price - Cost of asset - Accumulated depreciation
= 230,000 - 150,000 - 40,000
= $40,000
Tax will be maximum rate of 25% as per IRS rules.
The cash to be charged at maximum of 20% is:
= Gain - Section 1250 gain
= 120,000 - 40,000
= $80,000
Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year.
July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300.
8 Paid freight charge on merchandise purchased, $230.
12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise
cost $2,500.
15 Received a credit memo from Wheeler Warehouse for merchandise, $670.
22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820.
The cost of the merchandise is $550.
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method.
2. Journalize the above transactions in a general journal using the perpetual inventory method.
Answer:
The solution to these question is defined in the attached file please find it.
Explanation:
outlinr the selection procedure as a huma resource activity
Answer and Explanation:
A selection process as a human resources activity must be outlined, starting with the filling out of a form by the candidates for the vacancy that they are being offered through the selection. This form must contain basic information that will allow the human resources department to select people who have the minimum requirements necessary to participate in the next phase of the process. The next phase should be an interview, to get to know the candidates, assess their communication skills and ask incisive questions about the skills they have and the level of interest in the vacancy they are competing for. This is the key moment in the process, where the human resources department will be able to determine who deserves to be selected.
Peter and Lois are planning to open a restaurant that will feature Lois's world-renowned meatloaf. Everyone who has tasted Lois's meatloaf has ranted and raved that it is the most delectable meal they have ever had. Luckily for Peter and Lois, the meatloaf is made using a secret recipe that no one else in the whole world knows about. The only detail of the plan that troubles them is that neither of them knows anything about running a business. In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _____ and the couple's ignorance about running a business is a _____ in their situation analysis.
Answer:
Peter and Lois Restaurant
In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _strength____ and the couple's ignorance about running a business is a __weakness___ in their situation analysis.
Explanation:
SWOT means Strengths, Weaknesses, Opportunities, and Threats. Strengths and Weaknesses refer to internal capabilities or resources that are available or lacking. Opportunities and Threats refer to external returns and risks that can elevate or threaten the achievement of business goals.
Fiona is a manager who believes in Theory Y of leadership. What does she assume about her employees according to this theory? A. Employees have to be reprimanded for bad ideas. B. Employees are self-motivated in their work. C. Employees need constant supervision. D. Employees are always ready to leave the company.
Answer:
b
Explanation:
Employees are self-motivated in their work.
Suppose that applying for membership in the European Monetary Union (EMU) is expensive, so three hypothetical countries, Baltia, Polsha, and Atlantida, have come to you with their relevant data and want advice on if they should apply to join the EMU. Suppose that the average inflation rate of the three European countries with the lowest inflation rates is 3.0%, and the average long-term interest rate of those countries is 3.2%.
Evaluate the characteristics of Baltia, Polsha, and Atlantida presented in the following table using the Maastricht convergence criteria. Then, complete the bottom row by identifying whether each country is eligible to become an EMU member.
Criteria Baltia Polsha Atlantida
Inflation 4.5% 4.0% 4.1%
Long-term interest rates 5.0% 4.0% 3.0%
Exchange rates Last devaluated three years ago Stable Stable
Budget deficit 2.4% of GDP 3% of GDP 2.1% of GDP
Debt outstanding 45% of GDP 45% of GDP 46% of GDP
Qualifies to enter the EMU ? ? ?
Answer:
European Monetary Union Membership
All three countries are eligible to enter into the European Monetary Union, having met all the Maastricht convergence criteria.
Note that Baltia devalued its currency in the last three years and not two as set by the exchange rate criterion.
Explanation:
a) Maastricht convergence criteria are:
1. Price stability: the inflation rate not more than 1.5 point of average best three.
2. Deficit not more than 3% of GDP.
3. Government debt must not exceed 60% of GDP.
4. Exchange rate: No currency devaluation in last two years.
5. Long-term interest rates: not more than 2% higher than those of the three best performing Member states in terms of price stability.
b) The Maastricht Convergence Criteria Performances:
Criteria Baltia Polsha Atlantida
Inflation 4.5% 4.0% 4.1%
Long-term interest rates 5.0% 4.0% 3.0%
Exchange rates Last devalued Stable Stable
3 years ago
Budget deficit 2.4% of GDP 3% of GDP 2.1% of GDP
Debt outstanding 45% of GDP 45% of GDP 46% of GDP
Qualifies to enter
the EMU ? ? ?
c) The Maastricht Convergence Criteria Matching:
Criteria Baltia Polsha Atlantida Decision
Inflation 4.5% 4.0% 4.1%
Lowest EU inflation rates 3.0% 3.0% 3.0%
Difference 1.5 1.0 1.1 Met
Maastricht criteria 1.5 1.5 1.5
Long-term interest rates 5.0% 4.0% 3.0%
Highest EU rates 3.2% 3.2% 3.2%
Difference 1.8 0.8 -0.2 Met
Maastricht criteria 2% 2% 2%
Exchange rates Last devalued Stable Stable Met
3 years ago
Budget deficit 2.4% of GDP 3% of GDP 2.1% of GDP
Maastricht criteria 3% of GDP 3% of GDP 3% of GDP Met
Debt outstanding 45% of GDP 45% of GDP 46% of GDP
Maastricht criteria 60% of GDP 60% of GDP 60% of GDP Met
Qualifies to enter
the EMU YES YES YES
Budgeted Actual Sales volume 100 units 110 units Sales price $50 per unit $55 per unit Unit VC $30 per unit $33 per unit Input price for DL $10 per hour $12 per hour Input quantity per unit for DL 1.5 hours per unit 2 hours per unit Compute input efficiency variance for DL Group of answer choices $100 favorable $550 favorable $550 unfavorable 0.5 hours unfavorable $100 unfavorable
Answer:
Direct labor time (efficiency) variance= $550 unfavorable
Explanation:
Giving the following formula:
DL $10 per hour $12 per hour
Input quantity per unit for DL 1.5 hours per unit 2 hours per unit
To calculate the direct labor efficiency variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (110*1.5 - 110*2)*10
Direct labor time (efficiency) variance= $550 unfavorable
Relevance has always been the challenge of the advertising industry. Summarize Kristi Roger's assessment of the advertising industry in her Ted Talk. Considering her hypothesis and results, what are some implications for marketing managers as they seek to improve the ROI of marketing expenditures on all forms of marketing communications
Answer:
Advertising is a paid sort of promotion utilized by organizations for product promotion, hence being of a vital usage and a significant part in organizations. The achievement of any firm is reliant on the correct sort of advertising channels utilized.
Explanation:
In her Ted talk, it is clear Kristi Roger had conducted an extraordinary advertising analysis, in this way contending that relevance is a fundamental factor assuming an enormous part in advertising. She contends that the planned message of promotion should contact the perfect person at the perfect time. To guarantee this assertion is accomplished, an advertiser has the obligation to utilize the correct technology undeniably to make a pertinent directive for the correct crowd.
In addition, marketing managers are obligated to recognize the significant challenges in the market. They ought to get updated changes occurring in the market to stay away from any significant impacts on the Return On Investment (ROI).
To profit more from advertising, marketing managers should recruit the ideal person who is acceptable in quantitative skills rather than creative skills in light of the fact that the market analysis is of more significance than benefiting creative products into the market. A person with extraordinary quantitative skills can examine the market situations appropriately, henceforth s/he can dispose of a portion of the cycles that occur in computerized crusade improvement. To carry extraordinary outcomes to the organization, quantitative specialists guarantee important advertisements contact the perfect person at the perfect time.
The major benefits to a S.W.O.T Analysis are: a. Simple to use. b. Reduces the costs of strategic planning. c. Flexible. d. Integrates and synthesizes diverse information. e. Fosters collaboration among managers of different functional areas. f. ALL OF THE ABOVE. g. NONE OF THE ABOVE.
Answer:
f. ALL OF THE ABOVE
Explanation:
SWOT analysis can be regarded as
strategic planning technique that is been utilized to identify opportunities,
strengths as well as weaknesses, and threats associated with business competition as well as project planning of individuals or organization.
The major benefits to a S.W.O.T Analysis includes
✓Reduces the costs of strategic planning.
✓Simple to use.
✓Flexible
✓Fosters collaboration among managers of different functional areas.
✓Integrates and synthesizes diverse information.
You have decided to start a lawn service business to help pay your tuition so that you can complete your undergraduate accounting degree. You plan to provide various lawn maintenance services that will include lawn mowing services, aeration and fertilization. You and two of your friends have agreed to work for you in this new business endeavor. Which of the following would best describe organizing for your new business?
A. Preparing monthly billing statements for clients.
B. Determining the types of lawn services that you will provide for clients.
C. Providing employees with the authority to make decisions regarding a client.
D. Hiring and training new employees.
Answer:
B. Determining the types of lawn services that you will provide for clients.
Explanation:
As can be seen in the question above, you have decided to open a gardening business. However, as we know, gardening is very broad and many services can be associated with it. In order not to leave your business disorganized and to define the service you are offering, you have organized your business by determining the types of lawn services that your business offers, such as lawn mowing, aeration and fertilization.
Ellis Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on account $475,000 Raw materials (all direct) requisitioned for use in production $476,000 Direct labor cost $640,000 Manufacturing overhead: Indirect labor cost $174,000 Other manufacturing overhead costs incurred $498,000 Cost of goods manufactured $1,469,000 Cost of goods sold (unadjusted) $1,430,000 6. The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:
Answer:
It is the Cost of Goods Manufactured that should be transferred to the Finished Goods account. As both of them are asset account, adding to the Finished Goods account would debit it and taking from the Work in Process account would credit it.
Date Account Title Debit Credit
XX-XX-XXX Finished Goods $1,469,000
Work in Process $1,469,000
Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid by Seller Terms Returns and Allowances a. $14,200 - FOB shipping point, 1/10, n/30 $700 b. 10,700 $400 FOB shipping point, 2/10, n/30 1,300 c. 5,700 - FOB destination, 1/10, n/30 500 d. 3,800 200 FOB shipping point, 2/10, n/30 500 e. 1,500 - FOB destination, 2/10, n/30 -
Answer:
a. Amounts to be Paid on Invoice = $12,150
b. Amounts to be Paid on Invoice = $7,920
c. Amounts to be Paid on Invoice = $4,680
d. Amounts to be Paid on Invoice = $2,840
e. Amounts to be Paid on Invoice = $1,200
Explanation:
a. $14,200 - FOB shipping point, 1/10, n/30 $700
Amounts to be Paid on Invoice = ($14,200 - $700) * (10/10 - 1/10) = $12,150
b. 10,700 $400 FOB shipping point, 2/10, n/30 1,300
Amounts to be Paid on Invoice = (($10,700 - $1,300) * (10/10 - 2/10)) + $400 = $7,920
c. 5,700 - FOB destination, 1/10, n/30 500
Amounts to be Paid on Invoice = ($5,700 - $500) * (10/10 - 1/10) = $4,680
d. 3,800 200 FOB shipping point, 2/10, n/30 500
Amounts to be Paid on Invoice = (($3,800 - $500) * (10/10 - 2/10)) + $200 = $2,840
e. 1,500 - FOB destination, 2/10, n/30 -
Amounts to be Paid on Invoice = $1,500 * (10/10 - 2/10) = $1,200
The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 287,000 $ 381,500 Inventory $ 280,000 $ 266,000 Prepaid expenses $ 72,800 $ 70,000 Accounts payable (for merchandise) $ 258,300 $ 249,550 Accrued expenses payable $ 66,150 $ 79,450 Net sales $ 3,167,500 Cost of goods sold $ 1,669,500 Operating expenses (including depreciation of $63,000) $ 381,500 What is the amount of cash received from customers during the current yea
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $24,000 and ending work in process inventory of $29,000. During the month, the cost of units transferred out from the department was $159,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:
Answer: $188000
Explanation:
Based on the information given in the question, the total cost to be accounted for under the weighted-average method would be calculated thus:
Cost of ending work in process inventory = $29,000
Add: Cost of units transferred out = $159,000
Therefore, the total cost to be accounted for will be;
= $29000 + $159000
= $188000
Teal Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,420,000 on March 1, $2,280,000 on June 1, and $5,700,000 on December 31. Teal Company borrowed $1,900,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $3,800,000 note payable and an 11%, 4-year, $6,650,000 note payable. Compute avoidable interest for Teal Company. Use the weighted-average interest rate for interest capitalization purposes
Answer:
$418,790
Explanation:
Computation for the avoidable interest for Teal Company using the weighted-average interest rate for interest capitalization purposes
First step is to calculate the Expenditure for the year
Expenditure for the year
Mar-01 $3,420,000*10/12=$2,850,000
Jun-01 $2,280,000 *7 12=$1,064,000
Dec-31 $5,700,000*0/ 12=$ -
Total $ 11,400,000 $3,914,000
Second step is to compute the Weighted Average rate of all debt
Weighted Average rate of all debt:-
$3,800,000*12%=$456,000
$6,650,000*11%=$731,500
Total $10,450,000 $1,187,500
Weighted Average rate of all debt=($1,187,500 / $10,450,000)
Weighted Average rate of all debt = 11.36%
Now let compute the avoidable interest
AVOIDABLE INTEREST
$3,914,000
Less:$1,900,000*10%=$190,000
Balance$ 2,014,000*11.36% =$228,790
($3,914,000-$1,900,000=$ 2,014,000)
Avoidable Interest =$418,790
($190,000+$228,790)
Therefore the avoidable interest for Teal Company using the weighted-average interest rate for interest capitalization purposes will be $418,790
Worthington Machining must decide whether to purchase Process A with specialized metal folding equipment needing two employees to operate it or Process B with general purpose folding equipment requiring five employees. Process A requires a fixed cost of $1,430,000 and a variable cost of $14.32 per metal panel. Process B requires a fixed cost of $820,000 and a variable cost of $20.05. Process A is more automated than Process B. What is the break-even quantity between these two processes
Answer:
The indifference point is 106,457 units.
Explanation:
Giving the following information:
Process A:
Fixed cost= $1,430,000
Variable cost= $14.32 per metal panel.
Process B:
Fixed cost= $820,000
Variable cost= $20.05 per metal panel.
To calculate the indifference point between two processes, first, we need to formulate the total cost equation for each process:
Process A:
Total cost= 1,430,000 + 14.32*x
Process B:
Total cost= 820,000 + 20.05*x
x= number of units
Now, we need to equal both formulas and isolate x:
1,430,000 + 14.32x = 820,000 + 20.05x
610,000 = 5.73x
x= 106,457
The indifference point is 106,457 units.
Tharaldson Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 7.5 ounces $ 8.00 per ounce $ 60.00 Direct labor 0.9 hours $ 19.00 per hour $ 17.10 Variable overhead 0.9 hours $ 8.00 per hour $ 7.20 The company reported the following results concerning this product in June. Originally budgeted output 2,900 units Actual output 2,500 units Raw materials used in production 19,500 ounces Purchases of raw materials 22,400 ounces Actual direct labor-hours 4,700 hours Actual cost of raw materials purchases $ 41,400 Actual direct labor cost $ 12,900 Actual variable overhead cost $ 3,450 The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for June is: Multiple Choice $1,386 U $6,000 U $6,000 F
Answer:
Direct material quantity variance= $6,000 unfavorable
Explanation:
Giving the following information:
Direct materials 7.5 ounces $ 8.00 per ounce
Actual output 2,500 units
Raw materials used in production 19,500 ounces
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (7.5*2,500 - 19,500)*8
Direct material quantity variance= $6,000 unfavorable
The CEO is considering your recommendations, and it will take time to make some of these changes. However, you know that it's not just the structure of the department that is stifling creativity. You believe that the culture could be significantly improved, and you want to start working on these issues ASAP. It will be a slow process to make some of these changes, but the time to get started is now. You have a lot of ideas, but only a few should be implemented initially. Which three do you think should be started immediately
Explanation:
1- Hire an organizational consultancy specialized in diagnostics and solutions to improve the organizational culture, as an external view can be beneficial to perceive the organization free of bias.
2- Planning of the teams' routine and better redesign and definition of the functions of each employee, seeking greater integration and personal satisfaction with the work, which increases productivity and the valorization of the work.
3- Implementing changes in the way of communicating with the teams and providing feedback, clear and objective communication is essential for there to be a correct understanding of what is expected of each team and how to carry out the tasks to achieve the organizational objectives and goals.
On January 1 of this year, Nowell Company issued bonds with a face value of $240,000 and a coupon rate of 6.0 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. When the bonds were sold, the annual market rate of interest was 6.0%.
1. What was the issue price on January 1 of this year?
2. What amount of interest expense should be recorded on June 30 and December 31 of this year?
3. What amount of cash is owed to investors on June 30 and December 31 of this year?
4. What is the book value of the bonds on December 31 of this year, December 31 of next year?
Answer:
1. What was the issue price on January 1 of this year?
since the coupon rate was 6% and the market rate was the same, the bonds will be sold at par, so their issue price = $240,000
2. What amount of interest expense should be recorded on June 30 and December 31 of this year?
interest expense = coupon rate = $7,200 (for both June 30 and December 31)
3. What amount of cash is owed to investors on June 30 and December 31 of this year?
Face value = $240,000
4. What is the book value of the bonds on December 31 of this year, December 31 of next year?
Face value = $240,000
The issue price is $240,000, interest expenses will be $7,200 each time. the company owes the investor the interest and the book value is $240,000.
What is face value?Face value is the original cost with which the shares are shown/ registered on the stock exchange. It is the amount that the company has to pay to the holder of the bonds in maturity, it is the par value for bonds.
1. The issue price of 6% coupon rate bonds is $240,000.
2. The amount of interest expense that should be recorded on June 30 and December 31
$240,000 X 6%=$14,400annually
but it is paid semi-annually so=$14,400/2= $7,200 for each time
3. The amount owed to the investor by the company will be the interest amount i.e $7,200 each on June 30 and December 31.
4. The book value of the bond will be the face value for which it was issued i.e $240,000.
Therefore the above statements aptly explain the facts.
Learn more about face value here:
https://brainly.com/question/14294215
A firm produces and sells two products, Plus and Max. The following information is available relating to setup costs (a part of factory overhead): Plus Max Units produced 200 16,000 Batch size (units) 10 400 Number of setups 20 40 Direct labor hours per unit 5 5 Total direct labor hours 1,000 80,000 Cost per setup$1,080 Total setup cost$64,800 Using number of setups as the activity base, the amount of setup cost allocated to each unit of product for Plus and Max, respectively is:Multiple Choice$21.60; $.54.$60.00; $60.00.$108.00; $2.70.$54.00; $27.00.$200.00; $16,000.00
Answer:
Apportioned set-up cost
Plus =$21,600
Max=$43,200
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.
The cost driver in this scenario is the number of set-ups
Activity rate per driver is calculated as:
Activity overhead for the period / Total cost drivers for the period
So, we can apply this formula to the scenario above:
Set-up overhead= $64,800
Total set-ups for the period = 20 + 40 = 60
Overhead cost per set-up = $64,800/60=1,080
Set-up cost allocation:
Plus - 20 × 1,080=$21,600
Max- 40 × 1,080=$43,200
Apportioned set-up cost
Plus =$21,600
Max-=$43,200
Help! Select the qualification that is best demonstrated in each example.
Melanie is a fitness instructor who encourages her students to achieve their goals. ____
1. Ability to handle money
2. Accuracy and attention to detail
3. Leadership skills
4. Organizational skills
Jacob counts and organizes cash at a casino. _____
1. Maintenance of safety
2. Communication skills
3. Teamwork skills
4. Ability to handle money
Adra is proud that she has never had an accident while running a ride at an amusement park. ______
1. Organizational skills
2. Leadership skills
3. Ability to operate equipment safety
4. Communication skills
Juan plans fun activities for groups of people. _____
1. Communication skills
2. Accuracy
3. Teamwork skills
4. Organizational
Answer:
What ghazaryanelen101 Said ↑↑↑↑
Explanation:
Indicate the effect each separate transaction has on investing cash flows.
a. Sold a truck costing $42,500, with $23,000 of accumulated depreciation, for $9,000 cash.
b. The sale results in a $10,500 loss. Sold a machine costing $11,600, with $8,500 of accumulated depreciation, for $6,000 cash.
c. The sale results in a $2,900 gain. Purchased stock investments for $16,500 cash. The purchaser believes the stock is worth at least $31,000.
Answer:
a. Cash inflow of $9,000
b. Cash inflow of $6,000
c. Cash outflow of $16,500
Explanation:
The investing cash flow is a section of a company's cashflow statement. Other sections being the operating cash flow and the financing cash flow.
Considering the effect of the given transactions on the investing section
a. Sold a truck costing $42,500, with $23,000 of accumulated depreciation, for $9,000 cash. - The cash inflow of $9,000 is the only element that will impact the investing cash flow as an inflow.
b. The sale results in a $10,500 loss. Sold a machine costing $11,600, with $8,500 of accumulated depreciation, for $6,000 cash. - The cash inflow of $6,000 is the only element that will impact the investing cash flow as an inflow.
c. The sale results in a $2,900 gain. Purchased stock investments for $16,500 cash. The purchaser believes the stock is worth at least $31,000. - The amount used in the purchase of the stock $16,500 will be the only element impacting the investing cash flow and the impact is a reduction in cash - an outflow.
Two companies, A and B, both have $1 million in assets, earnings before interest and taxes (EBIT) of $160,000, and the same tax rate. Company A is all equity financed, and Company B is 50% debt financed and 50% equity financed. If Company B's pretax cost of debt is 8%, then Company A will have a ROA that is _____ and a ROE that is _____ than Company B's. a. Option D b. Option C c. Option B d. Option A
Answer: higher; lower
Explanation:
EBIT for A = 160,000
Equity of A = 1,000,000
ROA of A = 160,000/1,000,000 = 0.16 = 16%
ROE of A = 160,000/1,000,000 = 0.16 = 16%
EBIT for B = 160000 - (1000000 × 50% × 8%) = 120000
Equity of B = 1000000 × 50% = 500,000
ROA of B = 120000/1000000 = 0.12 = 12%
ROE of B = 120000/500000 = 0.24 = 24%
From the above, we can see that Company A has a higher ROA but had a lesser ROE THAN B
what is the role of education to become a manager ?
Answer:
There are several ways to become a Business Manager, but most organisations require a minimum of a bachelor's degree in business management.
These are usually 3-year courses covering topics such as management theory and practice, budgeting and planning, leadership skills and organisational behaviour.
According to the literature on organizational conflict, constructive conflict Question 1 options: tends to produce beneficial outcomes, particularly better decision making. is the main source of conflict in organizations. is the only conflict management style that has high assertiveness and low cooperativeness. is one of the most common outcomes of organizational conflict.
Answer:
tends to produce beneficial outcomes, particularly better decision making.
Explanation:
Constructive conflict occurs when there are problems that need to be solved by a team in the organization, and thus influence people to cooperate with creative and innovative ideas for solving the problem that can help to produce beneficial results, especially better decisions.
Constructive conflict helps the organization to be more productive by aggregating different ideas about the same problem and focusing on the solution to the resolution, which increases the sense of team integration, participation and understanding of different alternatives that will be improved so that the organization has the best decision making for such a problem.