Bella Donna Company has 100,000 shares of $2 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for $8 per share. On February 3, 2018, Bella Donna repurchased 3,590 shares at $6 per share for the purposes of retiring them. What will be the balance in Paid in capital in excess of par after February 3rd transaction?

Answers

Answer 1

Answer:

$585,640

Explanation:

Paid in capital in excess of on January 1 , 2018

= 100,000 × ($8 - $2)

= $100,000 × $6

= $600,000

Paid in capital in excess of par on repurchased share for retiring

= 3,590 × ($6 - $2)

= 3,590 × $4

= $14,360

Therefore,

Balance in paid in capital in excess of par after February 3rd transaction

= $600,000 - $14,360

= $585,640


Related Questions

A researcher was interested in the relationship between the number of texts sent in a day and the number of e-mails sent in a day by employees at a certain company. Using 15 data values, a 90 percent confidence interval for the slope of a regression model was found to be (2.31, 3.47). The researcher claims that the interval would have been narrower with a different sample size if all other things remained the same. Which of the following sample sizes would make the researcher's claim NOT true?
A. 14
B. 16
C. 20
D. 30
E. 100

Answers

Answer:

A. 14

Explanation:

the researcher claims that the width of the interval would have been smaller if the sample had been different, and in this case different refers to larger. The original sample included only 15 people, so in order to increase the data sample, you must include more than 15 people. That is why 14 doesn't make sense.

The management of Advanced Alternative Power Inc. is considering two capital investment projects. The estimated net cash flows from each project are as follows: Year Wind Turbines Biofuel Equipment 1 $280,000 $300,000 2 280,000 300,000 3 280,000 300,000 4 280,000 300,000 The wind turbines require an investment of $887,600, while the biofuel equipment requires an investment of $911,100. No residual value is expected from either project. Present Value of an Annuity of $1 at Compound Interest Year 6% 10% 12% 15% 20% 1 0.943 0.909 0.893 0.870 0.833 2 1.833 1.736 1.690 1.626 1.528 3 2.673 2.487 2.402 2.283 2.106 4 3.465 3.170 3.037 2.855 2.589 5 4.212 3.791 3.605 3.353 2.991 6 4.917 4.355 4.111 3.785 3.326 7 5.582 4.868 4.564 4.160 3.605 8 6.210 5.335 4.968 4.487 3.837 9 6.802 5.759 5.328 4.772 4.031 10 7.360 6.145 5.650 5.019 4.192
Required:
1a. Compute the net present value for each project. Use a rate of 6% and the present value of an annuity of $1 in the table above. If required, round to the nearest dollar.
Wind Turbines Bio Fuel Equipment
Present value of annual net cash flows $ $
Less amount to be invested $ $
Net present value $ $
1b. Compute a present value index for each project. If required, round your answers to two decimal places.
Present Value Index
Wind Turbines
Bio Fuel Equipment
2. Determine the internal rate of return for each project by (a) computing a present value factor for an annuity of $1 and (b) using the present value of an annuity of $1 in the table above. If required, round your present value factor answers to three decimal places and internal rate of return to the nearest percent.
Wind Turbines Bio Fuel Equipment
Present value factor for an annuity of $1
Internal rate of return % %

Answers

Yea...... does that question come with a picture? Can u explain better?

The ___ function returns the year portion of the data/time available

Answers

Answer:

The Excel YEAR function returns the year component of a date as a 4-digit number.

Explanation:

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.

Answers

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

While calculating the costs of products and services, a standard costing system ________. does not keep track of overhead cost traces direct costs to output by multiplying the standard prices or rates by the actual quantities uses standard costs to determine the cost of products allocates overhead costs on the basis of the actual overhead-cost rates

Answers

Answer:

uses standard costs to determine the cost of products

Explanation:

In the case when we determined the cost of the product and its services so here the standard costing system would be used to measure the cost of product as this is the costing system that are based upon the estimated or predicted values and are significant for generating a product

Solutions Inc. signs a 10-year lease for a building owned by Property Inc. that is appropriately classified as an operating lease by both the lessee and lessor. Lease payments are $150,000 per year. The building has an estimated useful life of 30 years with no salvage value. Assume that the building has a fair and carrying value of $2,000,000 at the commencement of the lease, what amount would Property Inc. recognize in its income statement (ignoring taxes) for the year ended December 31, 2020

Answers

Answer: $83,333

Explanation:

Amount Property will recognize in income statement:

= Lease revenue - Depreciation

Depreciation:

= (Fair value - salvage) / useful life

= (2,000,000 - 0) / 30

= $66,667

Amount recognized in income statement:

= 150,000 - 66,667

= $83,333

Jessica purchased a home on January 1, 2018 for $580,000 by making a down payment of $230,000 and financing the remaining $350,000 with a 30-year loan, secured by the residence, at 6 percent. During 2018 and 2019, Jessica made interest-only payments on this loan of $21,000 (each year). On July 1, 2018, when her home was worth $580,000 Jessica borrowed an additional $145,000 secured by the home at an interest rate of 8 percent. During 2018, she made interest-only payments on the second loan in the amount of $5,800. During 2019, she made interest only on the second loan in the amount of $11,600. What is the maximum amount of the $32,600 interest expense Jessica paid during 2019 may she deduct as an itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard

Answers

Answer:

$32,600

Explanation:

Calculation to determine her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard

Using this formula

Itemized deduction =(Financing amount * 6 percent)+(Additional amount borrowed*interest rate of 8 percent)

Let plug in the formula

Itemized deduction=( $350,000 * 6 percent)+($145,000 *8 percent)

Itemized deduction=($21,000+$11,600)

Itemized deduction=$32,600

Therefore her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard wi be $32,600

Social responsibility theories:________

a. Are generally classified as modern ethical versions of Utilitarianism
b. Determine the moral worth of an action regardless of their consequences
c. Are largely precise legalistic formulations
d. Classify corporate social responsibility as typically the corporation engaging in community and civic affairs in a prudent manner.

Answers

Answer:

a. Are generally classified as modern ethical versions of Utilitarianism

Explanation:

It is correct to say that social responsibility theories are generally classified as modern ethical versions of utilitarianism, due to the fact that utilitarianism can be understood as an ethical doctrine whose premise is that moral agents must act to promote the greatest amount of good -be.

In this case, the moral agents are the companies, which currently assume a much larger role than just profitable entities, there is a social demand for companies to have corporate social responsibility, that is, to promote well-being and contribute with the community where they operate, through actions that minimize environmental impacts, social programs, community support, etc.

X Company must purchase a new delivery truck and is using the payback method to evaluate two possible trucks. Truck 1 costs $31,000; Truck 2 costs $44,000. The useful life of both is seven years, with the following estimated operating cash flows:
Year Truck 1 Truck2
1 6000 7000
2 8,000 4,000
3 8,000 3,000
4 8,000 3,000
5 6,000 3,000
6 5,000 2,000
7 4,000 2,000
If X Company chooses Truck 2 instead of Truck 1, what is the payback period (in years)?
A: 2
B: 3
C: 4
D: 5
E: 6
F: 7

Answers

Answer:

C: 4

Explanation:

The computation of the payback period is shown below:

Incremental investment in truck 2 is

= $44,000 - $31,000

= $13,000

Now

Year        Cash saving in cost    Cumulative

1                   -$1,000                    -$1,000

2                  $4,000                      $3,000

3                  $5,000                      $8,000

4                 $5,000                       $13,000

5                  $3,000                      $16,000

6                 $3,000                       $19,000

7                 $2,000                        $21,000

Kragan Clothing Company manufactures its own designed and labeled athletic wear and sells its products through catalog sales and retail outlets. While Kragan has for years used activity-based costing in its manufacturing activities, it has always used traditional costing in assigning its selling costs to its product lines. Selling costs have traditionally been assigned to Kraganâs product lines at a rate of 70% of direct materials costs. Its direct materials costs for the month of March for Kraganâs "high-intensity" line of athletic wear are $395,000. The company has decided to extend activity-based costing to its selling costs. Data relating to the "high-intensity" line of products for the month of March are as follows.

Activity Cost Pools Cost Drivers Overhead Rate Number of Cost Drivers Used per Activity
Sales commissions Dollar sales $0.05 per dollar sales $940,000
AdvertisingâTV Minutes $300 per minute 230
AdvertisingâInternet Column inches $10 per column inch 2,000
Catalogs Catalogs mailed $2.50 per catalog 62,400
Cost of catalog sales Catalog orders $1 per catalog order 8,750
Credit and collection Dollar sales $0.03 per dollar sales $940,000

Requied:
Compute the selling costs to be assigned to the "high-intensity" line of athletic wear for the month of March (1) using the traditional product costing system (direct materials cost is the cost driver), and (2) using activity-based costing.

Answers

Answer:

1. $276,500

2. $328,950

Explanation:

1. Computation for the selling costs to be assigned to the "high-intensity" line of athletic wear for the month of March using the traditional product costing system

Traditional product costing = $395,000 * 70%

Traditional product costing = $276,500

Therefore the selling costs to be assigned to the "high-intensity" line of athletic wear for the month of March using the traditional product costing system is $276,500

2. Computation for the selling costs to be assigned to the "high-intensity" line of athletic wear for the month of March using activity-based costing

Activity based costing :

Sales commissions ($940,000*$0.05) $47,000

Advertising - TV (230*$300) $69,000

Advertising - internet (2,000*$10) 20,000

Catalogs (62,400*$2.50) $156,000

Cost of catalog sales (8,750*$1) 8,750

Credit and collection ($940,000*$0.03) $28,200

Selling cost $328,950

Therefore the selling costs to be assigned to the "high-intensity" line of athletic wear for the month of March using activity-based costing is $328,950

Clementine Company makes skateboards. They prepare master and flexible budgets and then perform variance analysis after the budget plan period elapses. Their data is as follows: Budget Actual Selling price per unit $96 $104 Variable cost per unit $52 $55 Quantity sold 996 1,024 What is the Clementine's volume variance for SALES? If the variance is unfavorable put a minus sign in front of your answer. Enter your answer without commas or decimals.

Answers

Answer:

See below

Explanation:

Sales volume variance is the difference between Budgeted quantity and actual quantity sold, multiplied by the standard profit margin. Standard profit margin is the excess of Budgeted selling price over actual selling price

Therefore,

Clementine's sales volume variance

= (BQ - AQS) × Standard profit margin

= (996 - 1,024) × ($96 - $52)

= -28 × -$44

= $1,232 F

Tyrell Company issued callable bonds with a par value of $18,000. The call option requires Tyrell to pay a call premium of $500 plus par (or a total of $18,500) to bondholders to retire the bonds. On July 1, Tyrell exercises the call option. The call option is exercised after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds under each separate situation.
1. The bonds have a carrying value of $15,000.
2. The bonds have a carrying value of $19,000.

Answers

Answer and Explanation:

The journal entries are shown below:

1. Bonds Payable $18,000

Loss on redemption $3,500  

  To   Discount on Bonds Payable ($18,000 - $15,000) $3,000

  To Cash ($18,000 + $500) $18,500

(Being retiring of the bond is recorded)

2. Bonds Payable $18,000

Premium on Bonds Payable ($19,000 - $18,000) $1,000

       To   Gain on redemption of bonds  $500

       To  Cash  ($18,000 + $500) $18,500

(Being retiring of the bond is recorded)

These two journal entries should be recorded

Which of the following is not a way to accomplish an activity cost reduction? a.improve operations so that the activity-base usage per unit is reduced b.use lower-cost materials c.change the classification of employees doing an activity so as to decrease the activity rate d.none of the above

Answers

Answer:

b. use lower-cost materials

Explanation:

In Accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

Production costs can be categorized as;

1. Variable costs: these are costs that usually change with respect to changes in the level of production or output. Examples are direct labor, maintenance of equipment or machines, raw materials costs etc.

2. Fixed costs: these are the costs which are not directly related to the level of production or not affected by the quantity of output in an organization. Examples are rent, depreciation, administrative cost, research and development costs, marketing costs etc.

Some of the ways to accomplish activity cost reduction are;

I. The operations of a business firm should be improved in order to make the activity-base usage per unit to be reduced.

II. The classification of employees doing an activity should be changed so as to decrease the activity rate.

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.

Answers

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)

Tom Jordan is a manager for a McDonald's restaurant. Many of his key responsibilities include analyzing data and making key decisions for the success of his store. Tom's store has been experiencing decreased sales for breakfast services over the past 3 months. Tom is unsure why breakfast revenues are down while lunch and dinner revenues remain unchanged. Tom believes that he can drive revenue up by implementing a few different breakfast promotions such as free coffee or hash browns with the purchase of a meal. Tom performs an extensive analysis of how continuous changes in breakfast promotions could impact his daily revenue. What type of DSS analysis is Tom performing? optimization analysis sensitivity analysis transaction analysis goal-seeking analysis

Answers

Answer: sensitivity analysis

Explanation:

From the information given in the question, we can infer that the type of DSS analysis that Tom is performing is the sensitivity analysis.

Sensitivity analysis simply refers to the quantitative risk assessment that deajs with how the alteration of a particular variable will have an effect on the model's output.

Here, Tom believing that he can increase revenue up by implementing a few different breakfast promotions like the free coffee or hash browns shows that he's using sensitivity analysis.

On March 1, Imhoff Co. began construction of a small building. Payments of $202,539 were made monthly for several months. The payments begin on the first day of March. The building was completed and ready for occupancy on the first day of June. In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are

Answers

Answer:

$101,269.5

Explanation:

Calculation to determine the weighted-average accumulated expenditures

Weighted-average accumulated expenditures=$202,539* (3/12 + 2/12 + 1/12)

Weighted-average accumulated expenditures=$202,539*0.5

Weighted-average accumulated expenditures=$101,269.5

Therefore In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are $101,269.5

You have 40 years left until retirement and want to retire with $5 million. Your salary is paid annually, and you will receive $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn a 10 percent return on the money you invest. If you save a constant percentage of your salary, what percentage of your salary must you save each year?

Answers

Answer:

16.67%

Explanation:

Calculation to determine what percentage of your salary must you save each year

First step is to calculate the Annual savings

Annual savings=$5 million*[(10%-3%)/(1+0.1)^40-(1+0.03)^40]

Annual savings=$5 million*0.07/(1.1^40-1.03^40)

Annual savings=$8333.88

Now let determine the percentage of the salary you must save each year

Proportion of savings=$8333.88/$50,000

Proportion of savings=0.1667*100

Proportion of savings=16.67%

Therefore the percentage of your salary that you must save each year is 16.67%

The required return on the stock of Moe's Pizza is 10.4 percent and aftertax required return on the company's debt is 3.28 percent. The company's market value capital structure consists of 65 percent equity. The company is considering a new project that is less risky than current operations and it feels the risk adjustment factor is minus 1.5 percent. The tax rate is 35 percent. What is the required return for the new project

Answers

Answer:

WACC - new project = 6.408% rounded off to 6.41%

Explanation:

The WACC or weighted average cost of capital is the cost of a firm's capital structure. The capital structure can consist of one or more of the following components namely debt, preferred stock and common equity. The WACC is calculated as follows,

WACC = wD * rD * (1 - tax rate)  +  wP * rP  +  wE * rE

Where,

w represents the weight of each component r represents the cost of each componentD, P and E represents debt, preferred stock and common equityrD * (1 - tax rate) is the after tax cost of debt

We first need to calculate the WACC of the company and then adjust it for the new project.

WACC = 35% * 3.28%  +  65% * 10.4%

WACC = 7.908%

As the new project is less risky and has an adjustment factor of -1.5%, the required rate of return for the new project will be,

WACC - new project = 7.908%  -  1.5%  

WACC - new project = 6.408% rounded off to 6.41%

Journalizing Sales, Sales Returns and Allowances, and Cash Receipts
Aug. 4 Sold merchandise on account to S. Miller for $310 plus sales tax of 4%, with 2/10, n/30 cash discount terms.
6 Sold merchandise on account to K. Krtek for $160 plus sales tax of 4%.
10 S. Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit.
13 S. Miller paid the balance due on her account.
15 K. Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit.
20 K. Krtek paid the balance due on his account.

Answers

Answer and Explanation:

The journal entries are shown below:

On August  4

Accounts Receivable (S. Miller) $322.40

           To Sales Tax Payable ($310 × 4%)  $12.40

           To Sales Revenue $310

(Being the sales revenue recorded on account)

On August 6

Accounts Receivable (K. Krtek) $166.40

           To Sales Tax Payable ($160 × 4%)  $6.40

           To Sales Revenue $160

(Being the sales revenue recorded on account)  

 On August 10

Sales Returns $20

Sales Tax Payable $0.80

            To Accounts Receivable (S. Miller) $20.80

(Being the returned inventory is recorded)

On August 13

Cash Account $295.80

 Cash Discount (($310 - $20) × 2%) $5.8

          To Accounts Receivable (S. Miller) $301.60 ($322.40 - $20.80)  

(Being receipt of cash is recorded)

On August 16

Sales Returns $40

Sales Tax Payable $1.60

          To Accounts Receivable (K. Krtek) $41.60

(Being the return of goods is recorded)

On August 20:

Cash Account ($166.40 - $41.60) $124.80

          To Accounts Receivable (K. Krtek) $124.80

(Being receipt of cash is recorded)

Suppose the economy is experiencing a recession. The output gap is hovering at −7%, causing higher than normal unemployment. Using the Fed model, complete the following passages to compare and contrast how monetary policy and fiscal policy can impact the economy. a. The Federal Reserve can reduce the to stimulate greater output and employment. The federal government can increase to help ease the recession. b. If both monetary and fiscal policy are used, the MP curve will shift , and the IS curve will shift to the . Both shifts will increase , and t

Answers

Answer:

a. The Federal Reserve can reduce the interest rates to stimulate greater output and employment. The federal government can increase government spending to help ease the recession.

The Fed can reduce interest rates by engaging in expansionary monetary policy that would then make it easier to borrow funds for investment. The Federal government can also increase spending as this will put more money into the economy to help it start moving again.

b. If both monetary and fiscal policy are used, the MP curve will shift downward, and the IS curve will shift to the right. Both shifts will increase income.

If both monetary and fiscal policy are used, companies will start producing again and hiring more people which will shift the Marginal Productivity curve downward. The IS curve will also shift to the right and both to these are indicators of an increase in income.

All of the following are examples of federal government programs available to families in need
except:
A. public housing
B. special housing for nuclear families.
C. emergency shelter grants for the homeless.
D. special housing for aging adults.

Answers

Answer:

I think the answer is B. No guarantees.

Explanation:

Chrzan, Inc., manufactures and sells two products: Product E0 and Product N0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product E0 340 9.4 3,196 Product N0 1,200 8.4 10,080 Total direct labor-hours 13,276 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product E0 Product N0 Total Labor-related DLHs $ 298,390 3,196 10,080 13,276 Production orders orders 57,587 500 600 1,100 Order size MHs 581,866 5,200 4,900 10,100 $ 937,843 The activity rate for the Order Size activity cost pool under activity-based costing is closest to:

Answers

Answer:

Order size= $57.61 per machine hour

Explanation:

Giving the following information:

Order size:

Estimated total overhead= $581,866

Estimated total machine hours= 10,100

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Order size= 581,866 / 10,100

Order size= $57.61 per machine hour

describe the difference between real gdp and nominal gdp.​

Answers

Answer: Real GDP takes into consideration adjustments for changes in inflation. ... The main difference between nominal GDP and real GDP is the adjustment for inflation

Explanation:

A reserve clause binds a professional athlete to a sports franchise even if the player does not have a contract with the team that retains the rights to the player. In other words, the player can only play for a single team and other teams may not bid for the player's services even in the absence of a contract. Major League Baseball was forced to outlaw reserve clauses in 1975. As a result of the ban, we would expect that

Answers

Answer: D. players in the major leagues would be paid more than their marginal product.

Explanation:

When the reserve clause was in effect, a team that had the rights to a player could pay the player what they wanted or at least according to their marginal product depending on how good they were without having to worry about other teams offering more money to the player because they could just decide not to let the player go.

When this clause was removed, this changed. Other teams could bid for players so bidding wars allowed major league players to make more money from either their team which would be forced to increase their salaries, or from other teams who would entice the players to move with higher salaries. This led to major league players being paid more than their marginal product.

Select the statement that best describes money's function as a standard of deferred payment.

a. The purchasing power of a currency is relatively stable over time
b. A currency is widely accepted in exchange for goods and services and therefore makes economic transactions easier.
c. A currency can be used to express the value goods and services that are both relatively expensive and goods and services that are relatively cheap.
d. People are willing to accept a currency in the future as compensation for debts accrued earlier

Answers

Answer:

d. People are willing to accept a currency in the future as compensation for debts accrued earlier

Explanation:

Money can be used to pay your current debts at a later date since $100 will still be $100 in the future. They might lose some of its value due to inflation, but they do not spoil or rot, and will probably be accepted in the future. imagine trying to pay an old debt with rotten tomatoes or an old cow.

The financial information below presents selected information from the financial statements of Pelican Company. Sales revenue during the current year was $13,340,300 and cost of goods sold was $8,914,195. All of Pelican's sales are made on account and are due within 30 days. Prior Year Current Year Cash and cash equivalents $ 570,330 $ 635,780 Accounts receivable 4,730,000 3,818,000 Inventory 938,360 1,277,440 Total current assets 8,250,030 8,210,100 Total assets 11,118,020 10,998,000 Total current liabilities 7,830,300 6,306,000 Total liabilities 8,467,900 8,276,700 Required: Current ratios as of the end of the current and prior year. Calculate the receivables turnover ratio for the current year. Calculate the days to collect for the current year. Calculate the inventory turnover ratio for the current year. Calculate the days to sell for the current year.
Required A
Required B
Required C
Required D
Required E
Current ratios as of the end of the current and prior year. (Round your answers to 2 decimal places.)
Current Year Prior Year
Current Ratio
Required A
Required B
Required C
Required D
Required E
Calculate the receivables turnover ratio for the current year. (Round your answer to 2 decimal places.)
Receivables Turnover Ratio
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Required D
Required E
Calculate the days to collect for the current year. (Round your intermediate calculations. Round your final answer to 2 decimal places.)
Days to Collect
Required A
Required B
Required C
Required D
Required E
Calculate the inventory turnover ratio for the current year. (Round your answer to 2 decimal places.)
Inventory Turnover Ratio
Required A
Required B
Required C
Required D
Required E
Calculate the days to sell for the current year. (Round your intermediate calculations. Round your final answer to 2 decimal places.)
Days to Sell

Answers

Answer:

Current Ratio 1.05

Receivable turnover days 129 days

Days to collect 2.83

Inventory Turnover days 38 days

Days to sell 9.61

Explanation:

Current Ratio : Total Current Assets / Total Current Liabilities

Current Ratio : 8,250,030 / 7,830,300 = 1.05

Receivable turnover days : ( Accounts Receivable / Total Sales ) * 365 days

Receivable turnover days : ( 4,730,000 / 13,340,300 ) * 365

Receivable turnover days : 129 days

Days to collect : 365 days / Accounts receivable turnover days

Days to collect : 365 / 129 days = 2.83

Inventory turnover days : ( Inventory / Cost of goods sold ) * 365

Inventory turnover days : ( 938,360 / 8,914,195 ) * 365

Inventory turnover days : 38 days

Days to sell : 365 days / Inventory turnover ratio

Days to sell : 365 / 38 days = 9.61

outlinr the selection procedure as a huma resource activity​

Answers

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.

Behan and his wife took title together at the same time to the same real property here in Michigan (while married to each other) and hold the real property as tenants by the entirety. Behan dies while still married to his wife. The estate is a conditional estate, not a fee simple estate. Behan's interest to the described real property, upon Behan's death:

a. escheats to the State of Michigan, under the facts of this question
b. passes back to the holder of the condition who now holds Behan's interest jointly with Behan's widow
c. passes to his wife, assuming she did not intentionally bring about Behan's death
d. passes through a probate proceeding, since Behan is now dead

Answers

Answer: passes to his wife, assuming she did not intentionally bring about Behan's death

Explanation:

We should note that Behan's interest to the described real property, upon the death of Behan will pass to his wife, assuming she did not intentionally bring about Behan's death.

Since they both own tne property as tenants and is a conditional estate, it simply means that the survivorship rights should be passed to another owner which is the wife in this case as long as the wife isn't responsible for his death.

Budgeted amount: 0.5 machine hours per (MH) unit Variable overhead rate is $15 per MH Fixed overhead rate is $40 per MH Budgeted fixed overhead is $600,000 Actual amounts: Variable overhead incurred is $190,000 Fixed overhead incurred is $630,000 MH used is 11,000 Actual output is 20,000 units What is the Fixed Overhead Volume Variance

Answers

Answer:

Fixed overhead volume variance = $200,000 Favorable

Explanation:

The fixed overhead volume variance is the difference between the actual and budgeted production unit multiplied by the standard fixed production overhead cost per unit

                                                                                        Units

Budgeted units                                                              15,000

Actual units                                                                   20,000

Variance                                                                          5,000

Fixed overhead rate per unit                                       × $40

Fixed overhead volume variance                              $200,000

Patterson Development sometimes sells property on an installment basis. In those cases, Patterson reports income in its income statement in the year of the sale but reports installment income by the installment method on the tax return. Installment income in 2021 was $240 million, which Patterson expects to collect equally over the next four years. The tax rate is 25%, but based on an enacted law, is scheduled to become 35% in 2023.
Patterson's pretax accounting income for the 2013 income statement was $530 million of this, $30 million is non-taxable revenue from proceeds of a life insurance policy. There were no differences between accounting income and taxable income other than those described above and no cumlative temporary differences existed at the beggining of the year:
1. Prepare the appropriate journal entry to record patterson's 2013 income taxes.
2. What is Patterson's 2013 net income?

Answers

Answer:

1. Debit Income tax expense for $143 million; Credit Deferred tax liability for $78 million; and Credit Income tax payable for $65 million.

2. Patterson's 2021 net income is $387.

Explanation:

Note: There is an error in the question because of date inconsistency. Therefore, 2021 upward is used in the answer to ensure date consistency.

1. Prepare the appropriate journal entry to record patterson's 2021 income taxes.

Note: See the attached excel file for the calculation of income tax payable and deferred tax liability.

The journal entry will look as follows:

Date                General journal                    Debit ($'M)         Credit ($'M)  

31 Dec 2021    Income tax expense                143

                          Deferred tax liability                                           78

                          Income tax payable                                            65

                        (To record income tax payable.)                                          

2. What is Patterson's 2021 net income?

This can be determined as follows:

Particulars                                    ($'Million)    

Pre accounting income                      530

Income tax expense                         (143)    

Net income                                         387  

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