Answer:
34,200
Explanation:
Calculation to determine How many pounds of foam does The Porch Cushion Company need to purchase in August
Does
First step is to calculate the Opening Inventory
Opening Inventory = (100%-15%)*(18,000*2)
Opening Inventory=85%*36,000
Opening Inventory=30600 pounds
Second step is to calculate the
Closing Inventory = 15%* (12,000*2)
Closing Inventory=15%*24,000
Closing Inventory=3600 pounds
Now let calculate the No of pounds required to purchase using this formula
No of pounds required to purchase = Opening inventory+Closing inventory
Let plug in the formula
No of pounds required to purchase=30,600+3,600
No of pounds required to purchase=34,200
Therefore the amount of pounds of foam that The Porch Cushion Company need to purchase in August is 34,200
Here are the comparattive income statements of Georgia Development Corporation.
December 31, 2017 December 31, 2016
Net sales $600,000 $500,000
Cost of goods sold 414,000 350,000
Gross profit 186,000 150,000
Operating expenses 150,000 120,000
Net income $36,000 $30,000
Required:
Prepare a horizontal analysis of the income statement data for Georgia Development Corporation using 2016 as a base.
Answer:
When using horizontal analysis, figures are compared across different years with the subsequent year differences with the base year figures being a percentage of the base year's figures.
12/31/2017 12/31/2016 Difference Percentage
Net sales $600,000 $500,000 $100,000 20.0%
Cost of goods sold $414,000 $350,000 $64,000 18.3%
Gross profit $186,000 $150,000 $36,000 24.0%
Operating expenses $150,000 $120,000 $30,000 25.0%
Net income $36,000 $30,000 $6,000 20.0%
Net sales percentage = 100,000 / 500,000 = 20%
Cost of goods sold = 64,000 / 350,000 = 18.3%
Gross profit = 36,000 / 150,000 = 24%
Operating expenses = 30,000 / 120,000 = 25%
Net income = 6,000 / 30,000 = 20%
If no page number or paragraph number is available when directly quoting from an electronic source, then the heading or section name along with the number of the paragraph within that section should be included.
a. True
b. False
Answer:
a. True
Explanation:
Plagiarism can be defined as the act of representing or using an author's work, ideas, thoughts, language, or expressions without their consent, acknowledgement or authorization.
This ultimately implies that, plagiarism is an illegal act of presenting another author's intellectual work or copyrighted items by using their ideas, thoughts, language or expressions, word for word without authorization or permission from the original author.
The four (4) common types of plagiarism are;
1. Copy and paste: this typically involves copying another author's work word for word and pasting it as yours without proper citation or reference with quotation marks.
2. Improper citation : this involves an author failing to provide an in-text reference or citation of the original author appropriately.
3. Find and replace: this typically involves an author finding some words to change (replace) in the original literary work.
4. Fabrication: this occur when an author makes up unverified or false data to use in his or her literary work.
Attribution can be defined as a process which typically involves the citation (reference) of an original source of information such as a quote, paraphrase or summary, using the author's full name and job title or position as the case may be.
Furthermore, if there is no page number or paragraph number when directly quoting from an electronic source, then one is permitted to use the heading or section name along with the number of the paragraph within that section.
1- On November 2, Z-Mart purchased $500 of merchandise inventory for cash
Answer:
Merchandise Inventory (Debit 500)
Cash (Credit 500)
Purchased goods for cash.
Hope this helps
What do you think happens to the price of an object as it goes through a large number of intermediaries?
A company reported total equity of $157,000 at the beginning of the year. The company reported $222,000 in revenues and $171,000 in expenses for the year. Liabilities at the end of the year totaled $98,000. What are the total assets of the company at the end of the year
Answer:
$306,000
Explanation:
The computation of the total assets is shown below;
The accounting equation is
Assets = Liabilities + Equity
But before that the ending equity should be determined
So,
Profit = Revenue - Expenses
= $222,000 - $171,000
= $51,000
Thus, equity at the end of the year is
= $157,000 + $51,000
= $208,000
Now Assets at the end of the year are,
Assets is
= $208,000 + $98,000
= $306,000
Riverbed Corp issued 2,300 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. Prepare a tabular summary to: (a) Record the sale of these bonds on January 1, 2022. (b) Adjust accounts on December 31, 2022, to record interest expense. (c) Record interest paid on January 1, 2023.
Answer: See explanation
Explanation:
The journal entry to record the transactions goes thus:
a. Jan 1, 2022:
Debit Cash 2300 × 1000 = 2300000
Credit Bonds payable 2300000
(To record sale of bonds)
b. Dec. 31, 2022
Debit Interest expense 2300000× 6% = 138000
Credit Interest payable 138000
c. Jan 1, 2023
Debit Interest payable 138000
Credit Cash 138000
(To record interest paid)
The relationships between inventory and throughput, and inventory and operating expense are defined as follows: As everyone is slowed down, the gap between the first and last hiker expands. As the gap expands, inventory drops. Operational expense is decreasing every time we hurry up because we are expending additional energy just to catch up. Group of answer choices True False
Answer:
False
Explanation:
Operational expense will instead increase when we hurry up because of the additional energy spent to catch up. The relationship between inventory and throughput is determined by time because throughput is the rate of change in inventory and is a product of Inventory divided by Time. This agrees with the inventory formula that states that throughput multiplied by time is equal to inventory.
Consider the market for socks. The current price of a pair of plain white socks is $6.00. Two consumers, Jeff and Samir, are willing to pay $7.00 and $8.50, respectively, for a pair of plain white socks. Two sock manufacturers are willing to sell plain white socks for as little as $4.50 and $5.50 per pair. What is the total producer and consumer surplus (i.e., social welfare) in this market
Answer:
consumer surplus = $3.5
producer surplus = $2
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Jeff's consumer surplus = $7 - $6 = $1
Samir's consumer surplus = $8.50 - $6 = $2.50
total consumer surplus = $1 + $2.50 = $3.50
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
Manufacturer 1's producer surplus = $6 - $4.5 = $1.50
Manufacturer 2's producer surplus = $6 - $5.50 = $0.50
total producer surplus = $1.50 + 0.50 = $2
The following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending Raw materials inventory $ 550,000 $ 613,000 The raw materials used in manufacturing during the year totaled $1,033,000. Raw materials purchased during the year amount to
Answer:
$420,000
Explanation:
Given the following information, Beginning ending raw materials inventory $560,000 $613,000
The raw materials used in manufacturing during the year is totaled $1,033,000
We will use the formula below to calculate raw materials purchased during the year
Raw materials purchases
= Direct materials used in production - Ending inventory
= $1,033,000 - $613,000
= $420,000
affar Tabrizi is the owner of Tabrizi Oriental Rugs located in Toronto, Canada. He shops the world over, handpicks, and orders beautiful, authentic handmade rugs. He has them shipped to Canada, where he sells them through his brick-and-mortar stores and his www.tabrizi website. In terms of the marketing channel, Jaffar is acting as Multiple Choice a consumer. an agent. a wholesaler. a brokerage firm. a middleman.
Answer:
A middleman
Explanation:
A middle man in trade is a person that is willing to make negotiations between people that are not willing to meet themselves. They go the extra mile to purchase goods and make them available to customers that have need of them.
In the given scenario Tabrizi shops the world over, handpicks, and orders beautiful, authentic handmade rugs. He has them shipped to Canada, where he sells them through his brick-and-mortar stores and his www.tabrizi website.
Clients in Canada are not able to travel to far places to purchase rugs so he steps in to this role and obtains rugs for his local clients.
This information relates to Sheridan Company for the year 2022.
Retained earnings, January 1, 2022 $91,100
Advertising expense 2,450
Dividends 8,160
Rent expense 14,200
Service revenue 78,880
Utilities expense 3,260
Salaries and wages expense 40,800
Prepare an income statement for the year ending December 31, 2022.
Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $78,880
Less: expenses
Advertising expense $2,450
Rent expense $14,200
Utilities expense $3,260
Salaries and wages expense $40,800
Net income $18,170
hence, the net income is $18,170
The same is to be considered
A ________ is an example of a first-line manager.
Answer:
shift manager, I believe
Explanation:
office manager is an example of a first line manager
. If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, what function of money is being described here?
Answer: unit of account.
Explanation:
Money is anything that's generally accepted by the people and used for making purchases. There are different functions of money such as:
• Means of payment
• Store of value
• Unit of account
• Standard for defered payment
If the prices of goods and services were expressed in terms of $20 for a shirt, $100 for a purse, the function of money that is shown here is the unit of account.
Unit of account simply means the measurement of value. This is something through which goods can be valued.
Question 4 A company has a temporary difference due to depreciation. For fiscal year 2012, its Income Tax Expense is $15,000 and its Taxable Income is $100,000. The statutory tax rate is 35% What is the correct journal entry for recording 2012 Income Tax Expense and Income Tax Payable
Answer:
Total income tax expense during the year is $15,000.
Statutory tax = 35% rate ($10,000*35% = $3,500).
Remaining part $11,500 ($15,000 - $3,500) would be the deferred tax liability.
Date Accounts titles & Explanation Debit Credit
Income tax expense $15,000
Deferred tax liabilities $11,500
Income tax payable $3,500
(To record income tax obligations)
Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures related to Todd's support:
Auto immram;e premiums : 1.700
Room and board at Todd’s school 2,200Health insurance premiums (not through an exchange) 600Travel (to and from school) 350What amount can Ned include in his itemized deductions?a. $1,700 included in Ned's miscellaneous itemized deductions.b. $2,050 included in Ned's miscellaneous itemized deductions.c. $950 included in Ned's miscellaneous itemized deductions.d. $600 included in Ned's medical expenses.e. None of the choices are correct.
Answer: D. $600 included in Ned's medical expenses
Explanation:
The amount that Ned can include in his itemized deductions will be the $600 that's included in Ned's medical expenses.
It should be noted that the medical expenses will be under the itemized deductions. On the other hand, the other options will be under the miscellaneous itemized deductions. Therefore, the correct option is D.
what is human resources management?
Answer:
Human resource management is the strategic approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service.
The December 31, 2016 balance sheet of Jensen Company showed Equipment of $76,000 and Accumulated Depreciation of $18,000. On January 1, 2017, the company decided that the equipment hasa remaining useful life of 6 years with a $4,000 salvage value. Compute the depreciable cost of the equipment. Depreciable cost Compute the revised annual depreciation.
Revised annual depreciations
Answer:
A. $54,000
B. $9,000
Explanation:
A. Computation for the depreciable cost of the equipment
Book value, 1/1/17 $58,000
($76,000 – $18,000)
Less salvage value $4,000
Depreciable cost $54,000
($58,000-$4,000)
Therefore the depreciable cost of the equipment is $54,000
B. Computation for the revised annual depreciation
Revised annual depreciation = $54,000÷6 years
Revised annual depreciation = $9,000
Therefore the revised annual depreciation is $9,000
Which of the following is an example of transparency?
A. The project manager ensures that only the project sponsor and
other key executives know what the primary deadlines are.
O B. The project manager posts all the project information (schedule,
guidelines, etc.) to a location that is accessible by the entire team.
C. The project manager uses team meetings to encourage
employees to get to know one another.
O D. The project manager encourages the team members to think
"outside the box" and challenge the guidelines as much as
possible.
Cause
Answer:
B
Explanation:
The project manager is being transparent in this case by posting project information, scheduling, etc. so that it may be accessible to everyone on the team, not hiding anything or making anything exclusive and excluding specific people
The project manager posts all the project information to a location that is accessible to the entire team is an example of transparency. Thus, option B is correct.
What is transparency?
By providing project details, like food scheduling, online so that everyone on the team can view them, the project manager is acting transparently in this instance by not keeping something a secret or making it exclusive so as to exclude particular team members.
A project team's culture of honest interactions and visibility is characterized by clarity when it comes to project and resource management. From a managerial standpoint, it frequently involves being open and forthcoming with one another regarding the project as the team as a whole.
The manager of the project and team members can quickly discover and express concern about any problems that might impede the project's development thanks to the assignment's status transparency.
Therefore, option B is the correct option.
Learn more about transparency, here:
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As a group, oligopolists would always be better off if they would act collectively... Group of answer choices as if they were each seeking to maximize their own individual profits. in a manner that would prohibit collusive agreements. as a single monopolist. as a single perfectly competitive firm.
Answer:
as a single monopolist
Explanation:
The oligopolist is the market structure where there are less sellers and if any actions are taken by them so it impact the price materially and also have the impact on the competitor
So as per the given situation, it would act as a single monopolist as they would charge high price because there is no competition
Therefore the above represent the answer
An issue of common stock currently sells for $52 per share, has an expected annual dividend to be paid at the end of the year of $0.90 per share, and has an expected growth rate to infinity of 5% per year. The expected rate of return on this security is:______
Answer: 6.73%
Explanation:
The expected rate of return will be calculated by using the formula:
Po= D1 / ( Ke – g )
Where,
Po = Current Price of the stock = $52
D1 = Expected dividend = $0.90
Ke = Expected rate of Return
g = Expected growth rate = 5% = 0.05
We'll then slot in the values into the equation. Therefore,
52.00 = 0.90 / (Ke – 0.05 )
(Ke – 0.05 ) = 0.90 / 52.00
(Ke – 0.05 ) = 0.01731
Ke = 0.05 + 0.01731
Ke = 0.06731
Ke = 6.73%
Therefore, the expected rate of return on this security is 6.73%.
During September, the capital expenditure budget indicates a $400000 purchase of equipment. The ending September cash balance from operations is budgeted to be $56000. The company wants to maintain a minimum cash balance of $25000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?
Answer:
the minimum cash loan borrowed is $369,000
Explanation:
The computation of the minimum cash loan borrowed is given below:
= Purchase value of an equipment - cash balance budgeted for september month + minimum cash balance
= $400,000 - $56,000 + $25,000
= $369,000
hence, the minimum cash loan borrowed is $369,000
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expense totaled $48,000 for the year, and departmental sales were as follows. Allocate advertising expenses to Department T based on departmental sales. (Do not round the intermediate calculations.)
Department S $111,000
Department T 213,150
Department U 146,250
Total 470,400
Answer:
Allocated costs= $21,600
Explanation:
Giving the following information:
Department S $111,000
Department T 213,150
Department U 146,250
Total 470,400
Advertising expense totaled $48,000 for the year.
First, we need to calculate the sales proportion for Department T:
Sales proportion= 213,150 / 470,400= 0.45
Now, we can allocate costs to Department T:
Allocated costs= 48,000*0.45
Allocated costs= $21,600
A salt mine you inherited will pay you $25,000 per year for 25 years, with the first payment being made today. If you think a fair return on the mine is 7.5%, how much should you ask for it if you decide to sell it
Answer: $299574.17
Explanation:
From the question, we are given the information that a salt mine inherited will pay $25,000 per year for 25 years, with the first payment being made today. If the fair return on the mine is 7.5%, the amount that should be asked for it's to be sold goes thus:
Periodic amount = $25000
Return on mine = 7.5%
Number of years = 25
Selling amount will then be:
= 25000 + [-PV(7.50%,24,25000,0)]
= 25000 + [-PV(0.075,24,25000,0]
= $299574.17
=
A consumer must spend all of her income on two goods (X and Y). In each of the following scenarios, indicate whether the equilibrium consumption of goods X and Y will increase or decrease. Assume good X is a normal good and good Y is an inferior good.
a. Income doubles.
b. Income quadruples and all prices double.
c. Income and all prices quadruple.
d. Income is halved and all prices double.
Answer:
a. Income doubles
consumption of good X will increase (normal good) will consumption of good Y will decrease (inferior good)b. Income quadruples and all prices double.
consumption of good X will increase (normal good) will consumption of good Y will decrease (inferior good)c. Income and all prices quadruple.
consumption of both goods will remain at the same leveld. Income is halved and all prices double.
consumption of good X will decrease (normal good) will consumption of good Y will increase (inferior good)
CVS pharmacy collects data from bar-coded products. These data can be evaluated and combined to monitor which CVS products are in demand by customers. CVS uses this method to track pricing data to make sure that CVS pricing is competitive. This is an example of _______.
Answer:
InfoScan.
Explanation:
A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.
Basically, a universal product code (UPC) comprises of two (2) main parts;
A machine-readable barcode that contains sets of vertical black lines.
A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.
The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.
Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.
In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.
Explain in your own words the following methods. The use of mathematical (formal) derivations will be rewarded with extra points.
1. Two Stage Least Squares.
2. Estimation with control variables.
3. Panel estimation with fixed effects.
Answer:
1. Two Stage Least Squares
Two stage least squares is a statistical technique of regression analysis. It is used to analyze structural equations. It is used to compute estimated values of the problematic predictors and then linear regression model of dependent variables is computed. This technique is also used in quasi experiments.
2. Estimation with control variables
A control variable is constant element which is kept unchanged throughout the process of experiment in order to get the estimation.
3. Panel estimation with fixed effects
In Panel estimation fixed effects are referred to the estimator of the coefficient in regression model. Panel estimation method with fixed effects helps estimation of equations.
Explanation:
1. Two Stage Least Squares
Two stage least squares is a statistical technique of regression analysis. It is used to analyze structural equations. It is used to compute estimated values of the problematic predictors and then linear regression model of dependent variables is computed. This technique is also used in quasi experiments.
2. Estimation with control variables
A control variable is constant element which is kept unchanged throughout the process of experiment in order to get the estimation.
3. Panel estimation with fixed effects
In Panel estimation fixed effects are referred to the estimator of the coefficient in regression model. Panel estimation method with fixed effects helps estimation of equations.
I’m tired of being broke! Help
Answer:
ok its A
Explanation:
GET A SUGAR DADDY BAE
Crestfield leases office space. On January 3, the company incurs $12,000 to improve the leased office space. These improvements are expected to yield benefits for 10 years. Crestfield has 4 years remaining on its lease. What journal entry would be needed to record the expense for the first year related to the improvements
Answer:
Debit Amortization Expense $3,000; credit Accumulated Amortization $3,000.
Explanation:
Based on the information given the appropiate journal entry that would be needed to record the expense for the first year related to the improvements will be
Debit Amortization Expense $3000
Credit Accumulated Amortization-Leasehold Improvements $3000
(Amortization Expense = 12000/4 = $3000)
(To record the expense for the first year)
Analysts expect Placer Corp. to pay shareholders $2.25 per share annually for the next five years. After that, the dividend will be $3.50 annually forever. Given a discount rate of 12%, what is the value of the stock today
Answer:
$24.66
Explanation:
Calculation to determine the value of the stock today
First step is to calculate the PVP
PVP = $3.50 / .12
PVP= $29.17
Second step is to calculate the PV
PV = $29.17 / 1.125
PV= $16.55
Third step is to calculate the PVA
PVA = $2.25 {[1 - (1 / 1.125)] / .12}
PVA= $8.11
Now let calculate the value of the stock today
Using this formula
Price=PV+PVA
Let plug in the formula
Price = $16.55 + 8.11
Price= $24.66
Therefore the value of the stock today is $24.66
Mr. Deli wants to start a small sandwich shop in his neighborhood. He has enormous amounts of cash that he inherited from his Uncle Walt, so there are no problems with financing the costs of the business. (1) What is the best type of business for Mr. Deli to form
Answer:
sole proprietorship
Explanation:
A sole proprietorship is a type of business that is owned by one person
Characteristics
1. it is owned by one person
2. the business has unlimited liability
3. the business has limited access to capital
4. the business usually lacks continuity. this type of business usually ceases to exist when the owner dies
5. the business is usually not separated from the owner