A bottle of Coke cost only five cents in 1945.
Answer:
5 cents
Explanation:
The 40s and 50s A bottle of Coke (there were no cans of Coke then) coats only 5 cents during those times
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: All materials are added at the beginning of the process. Beginning work in process had 86,300 units, 30 percent complete with respect to conversion costs. Ending work in process had 19,300 units, 40 percent complete with respect to conversion costs. Started in process, 105,900 units. Required: 1. Prepare a physical flow schedule.
Answer:
Physical flow schedule
Inputs
Beginning Work in Process 86,300
Add Units Started 105,900
Total 192,200
Outputs
Units Completed and Transferred 172,900
Units in Ending Work in Process 19,300
Total 192,200
Explanation:
A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.
Units Introduced must always be equal to units outputs in physicals terms.
Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process
= 86,300 + 105,900 - 19,300
= 172,900
Exchange rate pass-through may be defined as: the degree to which the prices of imported and exported goods change as a result of exchange rate changes. the bid/ask spread on currency exchange rate transactions. the practice by Great Britain of maintaining the relative strength of the currencies of the Commonwealth countries under the current floating exchange rate regime. the PPP of lesser-developed countries.
Answer:
the degree to which the prices of imported and exported goods change as a result of exchange rate changes.
Explanation:
Allocating Liquidation Between Common Stockholders and Preferred Stockholders The Arcadia Company is liquidating. After paying off all of its creditors, the company has $2 million to distribute between its preferred stockholders and its common stockholders. The aggregate par value of the preferred stock is $1.8 million and the aggregate par value of its common stock is $4 million. How much of the remaining $2 million assets should be distributed to the preferred stockholders and how much should be distributed to the common stockholders
Answer and Explanation:
The computation is shown below:
The amount that should be distributed to the preferred stockholder would be equivalent to the aggregate par value of the preferred stock i.e. $1.8 million and the remaining value would be distributed to the common stockholders i.e.
= $2 million - $1.8 million
= $0.2 million
Hence, the same would be considered
Billions of Dollars
Investment 80
Capital consumption allowance (depreciation) 45
Exports 40
Imports 15
Government purchases 160
Consumption 375
Indirect business taxes 35
Social insurance taxes 5
Corporate profit taxes 4
Undistributed corporate profits 6
Transfer payments 50
Personal taxes 110
Compensation of employees 455
Corporate profits 90
Rental income (of persons) 5
Net interest 25
Proprietors' income 25
Income earned from the rest of the world 80
Income earned by the rest of the world 40
The five components of GDP from the table that together sum to national income are ___________, ____________, ___________, and ______________
Answer:
Note: Some words are missing and are attached as picture below
The 5 components of GDP from the table that together sum to national income are:
a. Compensation of employees
b. Corporate profits
c. Net interest
d. Proprietors' income
e. Rental income
Disposable Income = Personal Income - Personal Taxes
Personal Income = Disposable Income + Personal Taxes
Personal Income = 525 + 110
Personal Income = 635
National income = Personal Income + Social Insurance Tax + Corporate Profit Taxes + Undistributed Corporate Profits - Transfer Payments
National income = 635 + 5 + 4 + 6 - 50
National income = 600
Each of the following is true except for: Multiple Choice a direct involuntary conversion occurs when property taken under eminent domain is replaced with other property. qualified replacement property rules are more restrictive than the like-kind property rules. an indirect involuntary conversion occurs when property is destroyed and insurance proceeds are used to purchase qualified replacement property. losses realized in involuntary conversions are deferred.
Answer: losses realized in involuntary conversions are deferred.
Explanation:
Based on the information given, we should note that every other options are true except the last option "losses realized in involuntary conversions are deferred".
Losses realized in the involuntary conversion are not deferred but they're are realized. Itbus the losses that are realized in the like-kind exchange that are being deferred.
Rodriguez Company pays $352,755 for real estate with land, land improvements, and a building. Land is appraised at $250,000; land improvements are appraised at $50,000; and a building is appraised at $200,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
Answer and Explanation:
The computation and the journal entry is shown below;
a. The allocation of the total cost among the three assets is shown below:
(a) (b) (a × b)
Appraise value Total appraised Total cost of Apportioned
value cost
Percentage acquisition
Land $250,000 50% $352,755 $176,377.5
Land
improvemnts $50,000 10% $352,755 $35,275.5
Building $200,000 40% $352,755 $141,102
Total $500,000
b. The journal entry to record the purchase is shown below:
Land $176,377.5
Land improvements $35,275.5
Building $141,102
To Cash $352,755
(To record the purchase)
The asset is debited as it rise the assets and cash is credited as it decreased the assets
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 51,000 units per month is as follows:
Direct materials $48.10
Direct labor $9.20
Variable manufacturing overhead $2.20
Fixed manufacturing overhead $19.50
Variable selling & administrative expense $4.00
Fixed selling & administrative expense $19.00
The normal selling price of the product is $108.10 per unit.
An order has been received from an overseas customer for 3,100 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $2.30 less per unit on this order than on normal sales.
Direct labor is a variable cost in this company.
Suppose there is not enough idle capacity to produce all of the units for the overseas customer and accepting the special order would require cutting back on production of 1,250 units for regular customers.
The minimum acceptable price per unit for the special order is closest to: (Round your intermediate calculations to 2 decimal places.)
a. $92.10 per unit
b. $108.10 per unit
c. $69.10 per unit
d. $79.18 per unit
Answer:
See below
Explanation:
Direct material = $48.10
Direct labor = $9.20
Variable manufacturing = $2.20
Fixed manufacturing = $19.50
Variable admin expenses = $4.0
Selling price = $108.10
Profit =
Contribution per unit =
New order = $3,100 units
Direct material = $48.10
Direct labor = $9.20
Variable manufacturing = $2.20
As a CEO, you are concerned that your firm and the industry in your country are being devastated by foreign imports. Trade lawyers suggest that you file an antidumping case against leading foreign rivals and assure you a win. Would you file an antidumping case or not
Answer:
The company can file antidumping case against the leading foreign rivals. The probability of winning the case is only high when there is cash deposits near to zero in the country and balance of payment is negative.
Explanation:
There can be a law suit files against the foreign rivals but the company will have to bear lawyers fee for this. There is a threat to employment of labor in the home country as most of the goods are imported so factories in the home country will be moved towards shut down because consumers will be buying imported goods which are offered at low price.
Valentina recently made a friend from another country who works as a buyer at a large business firm. They get together with a group of friends and have a fun time hanging out. Valentina works at a computer firm, and when she finds out her friend's firm is looking to purchase new computers, she schedules an appointment with her friend. When they get together, Valentina is surprised when her friend quickly kisses her on both cheeks as a form of greeting. She is not sure what to do in return. This type of _________________ is not common in the United States as a form of greeting among new friends or business associates. Group of answer choices tactile communication integrated marketing communication kinesic communication proxemic communication paralinguistic
Answer:
Tactile communication
Explanation:
Options are: "a. kinesic communication b. integrated marketing communication c. paralinguistic d. proxemic communication e. tactile communication"
This type of tactile communication is not common in the United States as a form of greeting among new friends or business associates. Tactile communication is a form of non-verbal communication in which the sender sends the message either by a handshake, kiss or simply by appropriate touching to the receiver. In this case, the friend kissed Valentina this is a form of tactical communication.
A- Tactile communication is not a common practice in the America as they are known to be more subtle and direct in their way of communication and most of their communication is straight.
The tactile communication is a way of greeting and talking by means of non-verbal communication. The way of this communication is mostly not accepted in the countries with a developed or a developing status.
When Valentina was greeted in this way she could simply respond in the most comfortable manner by giving more focus on the matter of the meeting and not the way she is greeted.Valentina also could ask about the correct way of responses she could give talking to him. She could also respond that if she likes or dislikes the way she has been greeted.Tactile communication is the way of communicating with other person by way of gestures rather than verbal ones. Like shaking hands, kissing, wink an eye.Hence, the correct option is A that the tactile communication is not an adopted way of communication in the united states.
To know more about communication skills, refer to the link below.
https://brainly.com/question/8421446
Earley Corporation issued perpetual preferred stock with an 8% annual dividend. The stock currently yields 6%, and its par value is $100. Round your answers to the nearest cent. What is the stock's value
Answer:
Value of stock = $133.33
Explanation:
The value of a preferred stock is the present value of the constant dividend payable for the foreseeable future discounted at the required rate of return
Price = Constant dividend/ required return
The constant dividend = Dividend rate × par value= 8%*100= 8
Requited return - 6%
So the price of the stock would be
Price = 8/0.06=133.33
Value of stock = $133.33
Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) check all that apply Ownership rights cannot be easily transferred. Owners have unlimited liability for corporate debts. Capital is more easily accumulated than with most other forms of organization. Corporate income that is distributed to shareholders is usually taxed twice. It is a separate legal entity. It has a limited life. Owners are not agents of the corporation.
Answer:
Following are the responses to the given question:
Explanation:
In point a, it is false because the ownership of a stock owned by shareholders is directly adaptable by sale.In point b, it is false because the corporate bosses have no responsibility. A corporate company is an organizationIn point c, it is true because This company is going on a broad-based business. Its necessary capital is enormous but is obtained from three sources.In point d, it is true because the company money is calculated twice in normal conditions, except for where tax-deductible is declared for both the dividends in shareholders' hands.In point e, it is true because Its company's legality is distinct from those of its owners. That both companies, as well as the owner, are separate legal entities. Firms have a common seal as well as their titles.In point f, it is false because UNLIMITED was its life of corporates and the foundation of the 'Moving Concern' idea.In point g, it is true because the actual owner isn't a business agent. They're only the owner that gives money.Earnings Per Share, Price-Earnings Ratio, Dividend Yield The following information was taken from the financial statements of Monarch Resources Inc. for December 31 of the current year: Common stock, $125 par value (no change during the year) $12,500,000 Preferred $6 stock, $90 par (no change during the year) 2,250,000 The net income was $1,300,000, and the declared dividends on the common stock were $460,000 for the current year. The market price of the common stock is $92 per share. For the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. Round to one decimal place except earnings per share and dividends per share, which should be rounded to the nearest cent. a. Earnings per share $fill in the blank 1 b. Price-earnings ratio fill in the blank 2 c. Dividends per share $fill in the blank 3 d. Dividend yield fill in the blank 4 %
Answer:
Monarch Resources Inc.
a. Earnings per share:
= $ 11.50
b. Price-earnings ratio:
= 8x
c. Dividends per share:
= $4.60 per share
d. Dividend yield:
= 5%
Explanation:
a) Data and Calculations:
Common stock, $125 par value = $12,500,000
Number of common stock shares = 100,000 ($12,500,000/$125)
$6 Preferred stock, $90 par value = $2,250,000
Number of preferred stock shares = 25,000 ($2,250,000/$90)
Net income = $1,300,000
Dividends on the Preferred stock = $150,000 ($2,250,000/$90 * $6)
Net income after preferred dividend = $1,150,000 ($1,300,000-$150,000)
Dividends on the Common stock = $460,000
Common stock market price = $92 per share
a. Earnings per share
= Net income after preferred dividend/number of shares
= $1,150,000/100,000
= $ 11.50
b. Price-earnings ratio:
= Market price/EPS
= $92/$11.50
= 8x
c. Dividends per share:
= Common stock dividends/number of common stock shares
= $460,000/100,000
= $4.60 per share
d. Dividend yield:
= Market price/Dividend per share
= $4.60/$92 * 100
= 5%
Agee Storage issued 33 million shares of its $1 par common stock at $21 per share several years ago. Last year, for the first time, Agee reacquired 1 million shares at $19 per share. Assuming that Agee retires shares it reacquires (restores their status to that of authorized but unissued shares), by what amount will Agee’s total paid-in capital decline if it now reacquires 1 million shares at $24 per share?
Answer:
$23 million
Explanation:
Calculation to determine at what amount will Agee’s total paid-in capital decline
First step is to calculate the Cash paid for the first repurchase
Cash paid for the first repurchase = 1 million * 19
Cash paid for the first repurchase = $19 million
Second step is to calculate the Value of first purchase
Value of first purchase = 1 million * 21
Value of first purchase = $21 million
Third step is to calculate the Benefit on first repurchase
Benefit on first repurchase = 21 million - 19 million
Benefit on first repurchase = $2 million
Fourth step is to calculate Cash paid for second repurchase
Cash paid for second repurchase = 1 million * 24
Cash paid for second repurchase = $24 million
Fifth step is to calculate the Value of second purchase = Reacquired shares * Common stock price
Value of second purchase = 1 million * 21
Value of second purchase = $21 million
Last step is to calculate the Decline in total paid-in capital using this formula
Decline in total paid-in capital= Benefit on first repurchase + Value of second purchase
Decline in total paid-in capital = 2 million + 21 million
Decline in total paid-in capital = $23 million
Therefore what amount will Agee’s total paid-in capital decline is $23 million
Jazz Corporation receives management consulting services from its 90 percent owned subsidiary, Laker Inc. During 20X7, Jazz paid Laker $70,000 for its services. Laker's labor cost and other associated costs for the employees providing services to Jazz totaled $30,000 in 20X7. Jazz reported $330,000 of income from its own separate operations for 20X7, and Laker reported net income of $85,000. Based on the preceding information, what amount of income should be reported as consolidated income on the 20X7 Consolidated Financial Statements
Answer:
the amount of income that should be reported is $415,000
Explanation:
The computation of the amount of income that should be reported is shown below:
= Jazz separate operations income + laker net income
= $330,000 + $85,000
= $415,000
hence, the amount of income that should be reported is $415,000
Simply used the above formula to determine the consolidated income
The graph below shows how the price of wheat varies with the demand quantity.
Suppose that lower production costs increases the supply of wheat, such that more wheat is supplied at each price level. The new equilibrium price (after the increase in supply) is _____.
$3
$4
Answer:
3
Explanation:
its because of rightward shift on the graph
Last year Rennie Industries had sales of $270,000, assets of $175,000 (which equals total invested capital), a profit margin of 5.3%, and an equity multiplier of 1.2. The CFO believes that the company could reduce its assets by $51,000 without affecting either sales or costs. The firm finances using only debt and common equity. Had it reduced its assets by this amount, and had the debt/total invested capital ratio, sales, and costs remained constant, how much would the ROE have changed? Do not round your intermediate calculations. a. 3.03% b. 3.07% c. 4.04% d. 4.52% e. 4.08%
Answer:
c. 4.04%
Explanation:
Calculation to determine how much would the ROE have changed
First step is to Calculate last year Last year profit
Last year profit = $270,000 × 5.3%
Last year profit = $14,310.00
Second step is to calculate Last year equity
$175,000/Last year equity = 1.2
Last year equity = $175,000/1.2
Last year equity= $145,833.33
Third step is to calculate Last year ROE
Last year ROE = $14,310.00/$145,833.33
Last year ROE= 0.0981*100
Last year ROE= 9.81%
Fourth step is to Calculate New asset value
New asset value = $175,000 - $51,000
New asset value = $124,000
Fifth step is to calculate Equity after asset reduction
Equity after asset reduction = $124,000/1.2
Equity after asset reduction = $103,333.33
Sixth step is to calculate ROE after asset reduction
ROE after asset reduction = $14,310.00/$103,333.33
ROE after asset reduction =0.1385*100
ROE after asset reduction =13.85%
Now let calculate amount of change in ROE
Using this formula
Change in ROE = ROE after asset reduction - Last year ROE
Let plug in the formula
Change in ROE = 13.85% - 9.81%
Change in ROE = 4.04%
Therefore how much would the ROE have changed is 4.04%
Whispering Winds Corp. had the following transactions. 1. Sold land (cost $7,200) for $9,000. 2. Issued common stock at par for $22,900. 3. Recorded depreciation on buildings for $16,600. 4. Paid salaries of $7,000. 5. Issued 1,100 shares of $1 par value common stock for equipment worth $9,200. 6. Sold equipment (cost $14,400, accumulated depreciation $10,080) for $1,728. (a) For each transaction above, prepare the journal entry.
Answer and Explanation:
The journal entries are shown below:
1 Cash $9,000
To Land $7,200
To Gain on Disposal $1,800
(Being the land is sold is recorded)
2 Cash $22,900
To Common Stock $22,900
(being the issuance of the common stock is recorded)
3 Depreciation Expense $16,600
To Accumulated Depreciation - Buildings $16,600
(being depreciation expense is recorded)
4 Salaries and Wages Expense $7,000
To Cash $7,000
(being salary paid is recorded)
5 Equipment $9,200
To Common Stock $1,100
To Paid in capital in excess of par-Common stock $8,100
(Being the common stock issued for the equipment)
6 Cash $1,728
Accumulated Depreciation-Equipment $10,080
Loss on Disposal $2,592
To Equipment $14,400
(being equipment sold is recorded)
Answer each questions.
1. Do internet search enhance our knowledge in animal/fish raising?
2. Search in the internet a picture that demonstrates a skill in harvesting/capturing animal/fish?. Paste the picture below.
Answer:
Yes it does because it helps us to be aware on the things that we should know on how to raise the animals with care.
Explanation:
Tina specializes in newspaper print layout. Unfortunately, her newspaper transformed into a digital-copy only and she was laid off because her print-laying skills were no longer needed. Is Tina's scenario is an example of ____________________ unemployment. Select the correct answer below: voluntary frictional cyclical structural
Answer:
Structural
Explanation:
It is correct to say that Tina's scenario is an example of structural unemployment, that there are structural economic changes, which can have several different reasons, in the case of the above question, the structural change was caused by a technological change that made the newspaper where Tina worked if she scanned, and Tina's skills were not sufficient to keep up with such changes, which resulted in her resignation.
This is a type of long-term unemployment, which can negatively impact a society, with a large number of people unemployed and disqualified for current job openings, to reduce this problem, it is necessary that companies invest in training programs and effective qualifications so that its employees can follow the structural changes that occurred in their jobs.
What is the difference between earning a wage and earning a salary?
Answer:
Wages are the money your employer pays you for the hours you work each week. A salary, on the other hand, typically defines a fixed amount your employer pays you, not necessarily for specific hours worked but for completing the duties of your job
Explanation:
what are tresholds in auditing?
Answer:
:)
Explanation:
The materiality threshold in audits refers to the benchmark used to obtain reasonable assurance that an audit does not detect any material misstatement that can significantly impact the usability of financial statements.
You are the manager of a firm that manufactures front and rear windshields for the automobile industry. Due to economies of scale in the industry, entry by new firms is not profitable. Toyota has asked your company and your only rival to simultaneously submit a price quote for supplying 100,000 front and rear windshields for its newest version of the Highlander. If both you and your rival submit a low price, each firm supplies 50,000 front and rear windshields and earns a zero profit. If one firm quotes a low price and the other a high price, the low-price firm supplies 100,000 front and rear windshields and earns a profit of $11 million and the high-price firm supplies no windshields and loses $2 million. If both firms quote a high price, each firm supplies 50,000 front and rear windshields and earns a $6 million profit. Determine your optimal pricing strategy if you and your rival believe that the new Highlander is a "special edition" that will be sold only for one year. Would your answer differ if you and your rival were required to resubmit price quotes year after year and if, in any given year, there was a 60 percent chance that Toyota would discontinue the Highlander? Explain.
Answer:
a. The optimal pricing strategy will be one-shot Nash equilibrium in which “You” charge low price, “Your Rival” charge low price and then the payoff is ($0, $0)
b. Yes, the anwer will differ becuase it is not possible to sustain the collusive outcome as a Nash equilibrium because [tex]\pi ^{Cheat}[/tex] > [tex]\pi ^{Cooperate}[/tex].
Explanation:
a. Determine your optimal pricing strategy if you and your rival believe that the new Highlander is a "special edition" that will be sold only for one year.
Note: See the attached excel file for the Representation of one shot normal for of the game played between "You" and "Your Rival" together with the payoffs.
From the attached excel file, the dominant strategy is for “You” and “Your Rival” to charge “Low Price” each. If the dominant strategy is played by “You” and “Your Rival”, the optimal pricing strategy will be one-shot Nash equilibrium in which “You” charge low price, “Your Rival” charge low price and then the payoff is ($0, $0).
b. Would your answer differ if you and your rival were required to resubmit price quotes year after year and if, in any given year, there was a 60 percent chance that Toyota would discontinue the Highlander? Explain.
When we have a year-after-year competition between “You” and “Your Rival” but with a 60 percent chance that Toyota would discontinue the Highlander, the payoffs of the firm that continue to comply with the collusive strategy of charging “High Price” by each firm under the normal trigger strategy whereby “You” and “Your Rival” agree to charge high price as long as there is no past deviation by any of the firm, otherwise charge a low price is as follows:
[tex]\pi ^{Cooperate}[/tex] = $6 + $6(100% - 60%) + $6(100% - 60%)^2 + 6(100% - 60%)^2 …….
[tex]\pi ^{Cooperate}[/tex] = $6 / 6% = $10
Therefore, what the firm that cheats earn today is $11 million and it earns $0 forever. The implication of this is that [tex]\pi ^{Cheat}[/tex] = $11
Therefore, the anwer will differ becuase it is not possible to sustain the collusive outcome as a Nash equilibrium because [tex]\pi ^{Cheat}[/tex] > [tex]\pi ^{Cooperate}[/tex].
Finlay, Inc., issued 10,000 shares of $51 par value preferred stock at $69 per share and 14,000 shares of no-par value common stock at $10 per share. The common stock has no stated value. All issuances were for cash. a. Prepare the journal entries to record the share issuances. b. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $5 per share. c. Prepare the journal entry for the issuance of the common stock assuming that it had a par value of $1 per share.
Answer and Explanation:
The journal entries are shown below;
a. Cash (10000 × $69) $690,000
To Preferred stock (10000 × $51) $510,000
To Additional paid in capital $180,000
(Being issuance of the preferred stock is recorded)
Cash (14000 × $10) $140,000
To Common stock no par value $140,000
(being issuance of the common stock is recorded)
b.
Cash $140,000
To Common stock stated value (14000 ×$5) $70,000
To Paid in capital in excess of stated value $70,000
(being issuance of the common stock is recorded)
c.
Cash $140,000
To Common stock at par (14000 × $1) $14,000
To Paid in capital in excess of par $126000
(being issuance of the common stock is recorded)
Suppose an American business owner purchases chocolates from Belgium in order to sell them in her shops. This would be entered as a ____________ item under the ___________________ section of the U.S. current account. Consider the goods and services balance. According to the table, the United States is running a trade ____________ .
The current account balance suggests that U.S. current account transactions (exports and imports of goods and services, as well as inflow and outflow of investment income and transfers) created outpayments of foreign currencies from the United States that were __________________the inpayments of foreign currencies to the United States.
Any surplus or deficit in one account must be offset by deficits or surpluses in other balance-of-payments accounts. Because the current account is in ____________ , the excess of foreign currency held by Americans must either be loaned to foreigners or used to buy foreign stocks or bonds. All of these transactions are then recorded in the _______________account. Since any imbalance in one account automatically leads to an equal, but opposite, imbalance in the other, the balance of payments is always _____________
Answer:
Debit
U.S. merchandise imports
Surplus
equal to
Surplus
current
zero
Explanation:
The trade deficit or surplus is based on the exports and imports of the country. When the imports are higher than exports then there will be trade deficit in the current account. In the given scenario the case is other way round, here imports are less than exports which suggests that there is a trade surplus which is offset by other accounts and balance of payment turn out to be zero.
Logan, a 50% shareholder in Military Gear Incorporated (MG), is comparing the tax consequences of losses from C corporations with losses from S corporations. Assume MG has a $116,000 tax loss for the year, Logan's tax basis in his MG stock was $158,000 at the beginning of the year, and he received $83,000 ordinary income from other sources during the year. Assuming Logan's marginal tax rate is 24 percent, how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation?
Answer:
$13,920
Explanation:
Calculation to determine how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation
First step is to calculate what Logan's pay, if MG is a C corporation
Logan's pay, if MG is a C corporation =($83,000*24%)
Logan's pay, if MG is a C corporation = $19,920
Second step is to calculate Logan's pay, if MG is a S Corporation
Logan's pay, if MG is a S Corporation =[($83,000-$58,000)*24%]
($116,000*50% = $58,000)
Logan's pay, if MG is a S Corporation=$6,000
Now let calculate how much more tax will Logan pay currently
Logan pay currently = ($19,920-$6,000)
Logan pay currently = $13,920
Therefore how much more tax will Logan pay currently if MG is a C corporation compared to the tax he would pay if it were an S corporation will be $13,920
Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected.
Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are November 2021, $80,000; December 2021, $90,000; January 2022, $100,000; February 2022, $120,000; and March 2022, $140,000.
Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are December 2021, $14,000; January 2022, $12,000; February 2022, $15,000; and March 2022, $18,000.
Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total:
January February March Quarter
November
December
January
February
March
Total collections
Answer:
a-1. Total cash collection for the Quarter Ending March 31, 2022 = $336,000
a-2. Total cash payment for the Quarter Ending March 31, 2022 = $43,400
b-1. Account receivable balance = $68,000
b-2. Account payable balance = $7,200
Explanation:
Note: This question is not complete and contains different dates (2017 and 2022). The complete question is therefore provided and 2022 is picked as the date before answering the question. See the attached pdf file for the complete question with 2022 as the date.
The explanation of the answer is now given as follows:
a-1. Schedule of expected cash collections from clients.
Note: See part a-1 of the attached excel file for the Schedule of expected cash collections from clients.
From the attached excel file, we have:
Total cash collection for the Quarter Ending March 31, 2022 = $336,000
a-2. Schedule of expected payments for landscaping supplies.
Note: See part a-2 of the attached excel file for the Schedule of expected payments for landscaping supplies.
From the attached excel file, we have:
Total cash payment for the Quarter Ending March 31, 2022 = $43,400
b. Determine the following balances at March 31, 2022:
b-1. Accounts receivable
Account receivable balance = ($120,000*10%) + ($140,000*40%) = $68,000
b-2. Accounts payable
Account payable balance = $18,000*40% = $7,200
North Inc. is a calendar-year C corporation, accrual-basis taxpayer. At the end of year 1, North accrued and deducted the following bonuses for certain employees for financial accounting purposes. $7,500 for Lisa Tanaka, a 30 percent shareholder. $10,000 for Jared Zabaski, a 35 percent shareholder. $12,500 for Helen Talanian, a 20 percent shareholder. $5,000 for Steve Nielson, a 0 percent shareholder. Unless stated otherwise, assume these shareholders are unrelated. How much of the accrued bonuses can North Inc. deduct in year 1 under the following alternative scenarios? (Leave no answer blank. Enter zero if applicable. Input all amounts as positive values.) a. North paid the bonuses to the employees on March 1 of year 2.
Answer:
North can deduct $35,000 for the accrued bonuses ($7,500 + $10,000 + $12,500 + $5,000)
Explanation:
The corporation has until the middle of March to deduct any bonuses handed out that correspond to past performance. After this 2¹/₂ month period is over, the bonuses must be deducted during the next accounting period.
Bummerland finds itself in a recession caused, as assumed in class, a sticky nominal (money) wage (W) which is too high to clear the labor market.
Bummerland has a Treasury and a "Federal Reserve" (called the Bummerb¬ank). At a meeting of officials of both agen¬cies, various antirecess¬ionary policies are considered. The economic staffs of both agencies are seriously split on issues such as how interest sensitive investment is and how interest sensitive the demand for money is. However, they are in agreement that the marginal propensity to consume (b) is .75 and the marginal propensity to hold cash (k) is .2. Bummerland has banks, but the reserve requirement is 100%, so they don't create money.
Debate has narrowed to four prospective policies. Your as¬signment is: (1) illustrate these policies using IS,LM diagrams; (2) compare as completely as possible ( if you can't, you must explain what additional information would be required ) the effects of these policies on Y*, r, I*, the real wage, and unemployment. Class format is strongly encour¬aged.
Here are the four policies: (1) a $50 billion increase in the money supply by means of open market opera¬tions; (2) a $50 billion increase in the money supply to be introduced by reducing tax collections; (3) a $50 billion increase in the money supply to be introduced through government spending; (4) a $50 billion increase in unemployment benefits paid for with a tax increase.
Answer:
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Explanation:
Assign each of the following to the correct category: A full-time college studentmultiple choice 1 Employed Unemployed Not in the labor force An accountant working full timemultiple choice 2 Employed Unemployed Not in the labor force A web developer working 20 hours/weekmultiple choice 3 Employed Unemployed Not in the labor force A recently laid-off factory worker looking for a jobmultiple choice 4 Employed Unemployed Not in the labor force A stay-at-home parentmultiple choice 5 Employed Unemployed Not in the labor force A recent college graduate looking for a jobmultiple choice 6 Employed Unemployed Not in the labor force
Answer:
Assignment to the correct category:
1. A full-time college student Not in the labor force
2. An accountant working full time Employed
3. A web developer working 20 hours/week Employed
4. A recently laid-off factory worker looking for a job Unemployed
5. A stay-at-home parent Not in the labor force
6. A recent college graduate looking for a job Unemployed
Explanation:
An employed person is one who is actively engaged in a paid job. Some unemployed persons are those who are actively seeking for jobs. This implies that a person, who is not actively engaged in a paid job or actively seeking for a job, is not in the labor force.
If a price ceiling is imposed at $15 per unit when the equilibrium market price is $12, there will be:
Answer:
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