Answer and Explanation:
The journal entries are as follows:
1. cash dividend Dr (7,000 shares × $1) $7,000
To Dividend payable $7,000
(Being the declaration of the dividend is recorded)
Here the cash dividend is debited as it increased the balance of the dividend and dividend payable is credited as it increased the liabilities
2. Dividend payable Dr $7,000
To Cash $7,000
(being the payment is recorded)
Here the dividend payable is debited as it decreased the liabilities and cash is credited as it also decreased the assets
Jones Company bought Wood Company in 2020 and appropriately recorded $750,000 of goodwill related to the purchase. On December 31, 2021, the fair value of Wood Company is $6,000,000 and it is carried on Jones' books for a total of $5,100,000, including the goodwill. What goodwill impairment should be recognized by Jones in 2021?
Answer: $0
Explanation:
Wood company's value is carried in Jones company books as $5,100,000 which is less than the fair value of $6,000,000. There is therefore no goodwill because the fair value is larger than the carrying value and goodwill only exists if the reverse is the case.
If there is no goodwill, there can be no goodwill impairment so goodwill impairment recognized in 2021 is $0.
The money lost by not working is called
it's called bankrupt
The Office Supplies account is Select one: a. an asset, and it has a normal credit balance. b. a revenue, and it has a normal credit balance. c. an expense, and it has a normal credit balance. d. an asset, and it has a normal debit balance. e. a revenue, and it has a normal debit balance.
Answer:
C)
Explanation:
Paris operates a talent agency as a sole proprietorship,and this year she incurred the following expenses in operating her talent agency.What is the total deductible amount of these expenditures?
$1,000 dinner with a film producer where no business was discussed
$500 lunch with sister Nicky where no business was discussed
$700 business dinner with a client but Paris forgot to keep any records (oops!)
$900 tickets to the opera with a client following a business meeting
A) $450.
B) $900.
C) $1,100.
D) $1,200.
E) $0
Answer:
A) $450.
Explanation:
The computation of the total deductible amount of the expenses is as follows:
In the case of the deduction with respect to the meal cost and entertainment. Only the half of the expense would be deducted i.e. for the business meeting
As in the question the opera tickets is $900 so the half of $900 i.e. $450 would be allowed as a deduction
Therefore the correct option is A.
Which of the following colors is highly variable and can be either cool or slightly warm, depending on how it is used?
Explanation:
Dark blue with dark red
A machine that cost $86,400 and on which $63,600 of depreciation had been recorded was disposed of for $24,480. Indicate whether a gain or loss should be recorded, and for what amount.
Amount of Loss/Gain
Answer:
the gain on disposal of machine is $1,680
Explanation:
The computation of the amount of loss or gain is as follows:
Cost of Assets is $86,400
Less: Accumulated Depreciation ($63,600)
Book Value of Assts $22,800
Now the sale value of the asset is $24,480
So there is a gain of
= $24,480 - $22,800
= $1,680
hence, the gain on disposal of machine is $1,680
Can a business succeed without having ALL four of the Factors of Production (Land, Capital, Labor and Entrepreneurs)? Why or why not?
PLS HELP ILL MAKE U BRAINLIEST
ways to improve productivity in the workplace
Examine the quarterly sales data in a little different way. Contruct two pie charts, one for sales in 2012 and the other for sales in 2013. Does it appear that sales are becoming more seasonal or less seasonal?
Revenues
Quarter 2011 2012 2013
$ 767 $ 10,613 $ 30,342
$ 2,174 $ 6,424 $ 33,867
$ 9,687 $ 19,283 $ 34,246
$ 8,999 $ 33,019 $ 43,783
Totals $ 21,626 $ 69,338 $142,238
Answer:
sales are becoming less seasonal
Explanation:
besides constructing a pie chart, we can also answer this question by percentages (which is more exact).
2012:
total sales = $69,338
Q1 sales = $10,613 / $69,338 = 15.31%
Q2 sales = $6,424 / $69,338 = 9.26%
Q3 sales = $19,283 / $69,338 = 27.81%
Q4 sales = $33,019 / $69,338 = 47.68%
2013:
total sales = $142,238
Q1 sales = $30,342 / $142,238 = 21.33%
Q2 sales = $33,867 / $142,238 = 23.81%
Q3 sales = $34,246 / $142,238 = 24.08%
Q4 sales = $43,783 / $142,238 = 30.78%
During 2012, almost 50% of total sales happened during Q4, something similar to selling toys which are extremely seasonal due to Christmas.
During 2013, this changed since Q4 sales only represent 30% of total sales. Sales increased during Q1 and Q2, and slightly decreased in Q3. They are much more similar now, since sales are almost evenly spread throughout the year.
which of the following is a step in the marketing process
Transmissions are delivered to the fabrication line four at a time. It takes one hour for transmissions to be delivered. Approximately five vehicles are produced each hour, and management has decided that 40 percent of expected demand should be maintained as safety stock. How many kanban card sets are needed?
Answer:
the number of kanbans card sets required is 1.75 kanban sets
Explanation:
The computation of the number of kanbans card sets required is as follows:
Kanban cards is
= Average number of demand × lead time × (1 + Safety stock) ÷ Size of the container
= 5 × 1 × (1 + 0.40) ÷ 4
= 7 ÷ 4
= 1.75 kanban sets
hence, the number of kanbans card sets required is 1.75 kanban sets
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Fuschia Company's contribution margin per unit is $11. Total fixed costs are $77,770. What is Fuschia's break-even point in units
Answer:
Fuschia's break-even point in units is 7,070 units.
Explanation:
In accounting, the breakeven point in units refers to the units of production where total revenues for a product equal its total cost. This can be calculated for using the following formula:
Break even point in units = Total fixed cost / Contribution margin per unit ............. (1)
.Where, for Fuschia Company;
Total fixed costs = $77,770
contribution margin per unit = $11
Substituting the values into equation (1), we have:
Break even point in units = $77,770 / $11 = 7,070 units
Therefore, Fuschia's break-even point in units is 7,070 units.
Piper Pipes has the following inventory data: July 1 Beginning inventory 20 units at $120 5 Purchases 120 units at $112 14 Sale 80 units 21 Purchases 60 units at $115 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis?
a. $15,392.
b. $15,412.
c. $7,328.
d. $7,348.
Answer:
COGS= $15,412
Explanation:
Giving the following information:
July 1 Beginning inventory 20 units at $120
July 5 Purchases 120 units at $112
July 14 Sale 80 units
July 21 Purchases 60 units at $115
July 30 Sale 56 units
First, we need to calculate the number of units sold:
Units sold= 136
To calculate the cost of goods sold using LIFO (last-in, first-out), we need to use the cost of the last units incorporated into inventory:
COGS= 60*115 + 76*112
COGS= $15,412
How are SAE programs expanded and/or diversified?
Answer:
The SAE programs could be extended even diversified using the following techniques.
Explanation:
Increased self-employment has led to something like the SAE programs. Rather than growing the breadth of this. The concept seems to be the volume, gross margin, quantity of acres, respectively. By introducing or growing new goods as well as companies. This would be referred to those as diversification. Whilst also connecting to the awareness acquired via the SAE programs.Marilyn is age 66, if she receives a $15,000 taxable HSA distribution this year, what tax penalty, if any, will apply?
Answer:
No penalty
Explanation:
The tax penalty is as follows
The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible (HDHP) would not covered here
In the case when rules are not followed so there is a penalty of 20%
Given that the amount taxable is $15,000
So here the penalty would be
= $15,000 × 20%
= $3,000
But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65
mr kleaners acquired new industrial washing mavhine,the list price price of which was 52000.the supplier allowedva tade discount of 4000 off the list price.on delivery the cost of installing the machine in its desire location was 950
what is the cost if machine to be capitalised in the machinery account
Answer:
I think its $48,950.
Explanation:
you subtract 4,000 from 52,000 which is 52,000 - 4,000 = 48,000.
then you will add that extra $950 getting you a total of $48,950.
if I'm wrong I'm sorry I'm not that good at math.
Changes in technology can cause changes in the productivity of a resource. Technological change can be economy-wide, industry-specific, or can occur within one firm's production process. Explain how a change in the productivity of a resource changes the demand for the resource. Give an example.
Explanation:
Globalization is a worldwide phenomenon caused by technological changes, with a greater possibility of communication between countries, there was a revolution in business, which became much more profitable when they were present in several countries in the world. An example of a change in the productivity of a resource that has been directly impacted by technological changes is the cell phone industry.
The change in resource productivity occurs both internally and externally to this niche, since with the globalization and ease of doing business outside the organization's host country, there is a quest to make the global value chain, with a focus on labor and cheaper raw material.
It is also necessary to consider that in the cell phone industry, technological change has added new features to the product making the device that only made connections a smartphone, a device with multiple features and internet access, such as Apple, which with advanced technology reaches every more consumers around the world.
What is the difference between inflation and deflation.
A. Inflation can result from falling demand and boosts the value of money. Deflation can result from rising demand and reduces the value of money.
B. Inflation can result from rising demand and boost the value of money. Deflation can result from failing demand and reduces the value of money.
C. Inflation can result from falling demand and reduces the value of money. Deflation can result from rising demand and boost the value of money.
D. Inflation can result from rising demand and reduces the value of money. Deflation can result from falling demand and boost the value of money.
Answer:
D. Inflation can result from rising demand and reduces the value of money. Deflation can result from falling demand and boost the value of money.
Explanation:
Inflation is the general increase in prices in the economy over time. As the economy grows, prices automatically rise. There is a direct correlation between economic development and inflation. A high growth rate may result in a high inflation rate. High growth is caused by an increase in demand for goods and services.
Inflation erodes the purchasing power of money. As prices increase, it means one unit of money will purchase fewer quantities of goods and services than the previous season.
Deflation is the opposite of inflation. It means a general decline in prices in the country. Low production due to reduced demand causes prices to decline. One unit of money will purchase more quantities of goods and services as prices decline.
Answer:
I believe the answer is D :)
Explanation:
1. What is the eventual effect on real GDP if the government increases its purchases of goods and services by $60,000?
2. What is the eventual effect on real GDP if the government, instead of changing its spending, increases transfers by $60,000? Assume the MPC has not changed.
3. An increase in government transfers or taxes, as opposed to an increase in government purchases of goods and services, will result in:___.
a. a smaller eventual effect on real GDP.
b. no change to real GDP.
c. a larger eventual effect on real GDP.
d. an identical eventual effect on real GDP.
Answer:
Missing word in 1. "Assume the marginal propensity to consume (MPC) is 0.75."
1. Using the ffg formula to calculate the effect of real GDP
Real GDP = [1/1-MPC]*Government purchase
= [1 / 1 - 0.75]*60,000
= (1/0.25)*60,000
= 4*60,000
= $240,000
Thus, the total change in real GDP is $240,000, it means the real GDP increases by $240,000
2. Real GDP = (MPC/1-MPC)*Government spending
= 0.75/1-0.75*60,000
= 0.75/0.25 * 60,000
= $180,000
Thus, the total change in real GDP is $180,000, it means the real GDP increases by $180,000
3. Thus, from the calculation, it is clear than an increase in government transfers or taxes as opposed to an increase in government purchases of goods and services will result in a smaller eventually effect on real GDP.
Résumés should include the following:
your contact information
education history
family history
work history
Answer:
Education history
Explanation:
When you are looking for a job more than liky the job wants to know what school you went to and what level of education you have. Most job said you can take it right after high school some other job tell you you have to go through college other what a whole different school or training you have to go through.
The Belwood Bread Company uses an average of 4,000 kilos of flour daily, with a standard deviation of 500 kilos per day. The average lead time to get a shipment of flour is 9 days with a standard deviation of 2 days. The owner of the bakery wants to maintain a service level of 95%.
z-value Probability
1.63 .9485
1.64 .9500
1.65 .9505
1.66 .9515
1.67 .9615
Which one of the following is true about the reorder point for flour?
Answer:
The Belwood Bread Company uses an average of 4,000 kilos of flour daily, with a standard deviation of 500 kilos per day is explained below in detail.
Explanation:
In my practice, it doesn't save capital, but it's still deserving it because it's wholesome and better than reserve purchased at the same amount.
For me, 1kg of all-purpose powder yields 1.6kg of bread (as two cubes). Each 13x4x4" (Pullman) loaf measures about 800 grams after freezing and yields between 22-30 slices related to its width. The value per loaf is under $1.00 and incorporates all components, charge, and electricity for mixing, baking, slicing.
I've created a few hundred loaves based on modifications of this formula:
% grams cost calories sodium protein fat sugar
all-purpose powder 100 500 0.417 1833 0 50 17 0
instant yeast 0.8 4 0.067 16 0 0 0 3
non-fat dry milk 4 20 0.203 70 0 7 10 109
sugar 4 20 0.019 75 0 0 20 0
canola oil 10 50 0.072 429 50 0 0
salt 2 10 0.006 0 0 0 0 3933
water 56 280 0.000 0 0 0 0 0
dough total 176.8 884 $0.783 2422 50 57 47 4045
what are the three ways in which a government can intervene in a market
Answer:
there
Explanation:
regulation, taxation, and subsidies.
Answer:
Explanation:
regulation, taxation, and subsidies.
When reflecting upon the newer generation, each older generation says the same thing:
Answer:
live long boomers
Explanation:
Superfine Company collected the following data in preparing its cash flow statement for the year ended December 31, 2017: Amortization of bond discount $ 1,000 Dividends declared 22,500 Dividends paid 19,000 Gain on sale of equipment 3,000 Proceeds from the sale of equipment 5,000 Proceeds from the sale of treasury stock (carrying amount $32,500) 37,500 Purchase of BAS Inc. bonds (par value $100,000) 90,000 Required: Determine the following amounts that should be reported in Superfine’s 2017 statement of cash flows. What amount should Superfine report as net cash used in investing activities? What amount should Superfine report as net cash provided by financing activities?
Answer: a. ($85,000) ; b. $18500
Explanation:
a. What amount should Superfine report as net cash used in investing activities?
Sale of equipment = $5,000
Less: Purchase of bond = ($90,000)
Net cash used in investing activities = ($85,000)
b. What amount should Superfine report as net cash provided by financing activities?
Proceeds from treasury sold = $37500
Less: Dividend paid = ($19,000)
Net cash provided by financing activities will be: = $18500
HELP ASAP
Bank auditing is mainly done to
(Select all that apply.) Multiple choice
A. Curb money laundering
B. Insure deposits for all customers
C. Stop international finance crimes
D. Prohibit electronic trading arbitrage
Swift Co. produces footballs. It incurred the following costs this year:
Direct materials $35,000
Direct labor 31,000
Fixed manufacturing overhead 22,000
Variable manufacturing overhead 38,000
Fixed selling and administrative expenses 23,000
Variable selling and administrative expenses 14,000
What are the total product costs for the company under variable costing?
Total product costs under variable costing $ _
Answer:
Total variable cost= $104,000
Explanation:
Giving the following information:
Direct materials $35,000
Direct labor 31,000
Variable manufacturing overhead 38,000
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Total variable cost= 35,000 + 31,000 + 38,000
Total variable cost= $104,000
Your campus computer store reported Sales Revenue of $175,000. The company's gross profit percentage was 65 percent. What amount of Cost of Goods Sold did the company report?
Answer:
The company reported $61,250 amount of Cost of Goods Sold
Explanation:
As gross profit percentage is the net percentage of sales revenue and cost of goods sold. We can find the cost of goods sold percentage as follow
Gross profit = Sales - Cost of Goods Sold
Placing the percentage
65% = 100 % - Cost of Goods sold
Cost of Goods sold = 100% - 65%
Cost of Goods sold = 35%
Now calculate the value of cost of goods sold using following formula
Cost of goods sold percentage = Cost of good sold / Sales Revenue
35% = Cost of Goods sold / $175,000
Cost of Goods sold = $175,000 x 35%
Cost of Goods sold = $61,250
Question 2 of 10
Which of the following is an advantage of using a periodic inventory system?
A. It is less time consuming than other methods.
B. It is relatively easy and inexpensive to set up.
An advantage of using a periodic inventory system is that It is less time-consuming than other methods.
What is a periodic inventory system?The periodic inventory system is a method of inventory valuation for financial reporting purposes in which a physical count of the inventory is performed at specific intervals.
What is a periodic inventory system for example?
Example of Periodic Systems. Periodic system examples include accounting for beginning inventory and all purchases made during the period as credits. Companies do not record their unique sales during the period to debit but rather perform a physical count at the end and from this reconcile their accounts.
Learn more about the periodic inventory system here: https://brainly.com/question/25887081
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In what ways are retail banks, credit unions, and online banks different?
Answer:
The bottom line is that banks are for-profit institutions, while credit unions are non-profit. Credit unions typically brag better customer service and lower fees, but have higher interest rates. On the contrary, banks generally have lower interest rates and higher fees
The credit unions have lower fees and better interests in the saving accounts. Credit unions are a type of institution controlled by members and operated on a nonprofit basis.
Online banks are those that have internet-based services such as e-loans, and all electronic transactions. It also includes net banking and does it yourself system. Retail banking is a provision of services by the banks to the general public. They are often called as whole ale banking. While a bank can have diverse offering a credit union is limited. Banks provide a higher fee for interest and loans, while credit union is lower fees and interest rates.Learn more about the ways are retail banks, credit unions, and online banks different.
brainly.com/question/12980617.
It is important that budgets be accepted by:____
a. division managers only.
b. department heads only.
c. supervisors only.
d. all of these answers are correct.
Answer:
d. All of these answers are correct.
Explanation:
Budget can be regarded as the overall
estimation of revenue as well as expenses of an organization, government, individuals, or those that make and spend out money, within a particular period of time. Whereby there would be need for compilation and re-evaluation on periodic base. When making a budget It should be noted, It is important that budgets be accepted by
✓division managers only.
✓department heads only.
✓supervisors only.