Which of the following is NOT normally regarded as being a barrier to hostile takeovers? a. Targeted share repurchases. b. Shareholder rights provisions. c. Poison pills. d. Restricted voting rights. e. Abnormally high executive compensation.

Answers

Answer 1

Answer:e

Explanation:


Related Questions

A new accountant working for Metcalf Company records $800 Depreciation Expense on store equipment as follows:

Dr. Depreciation Expense 800
Cr. Cash 800

The effect of this entry is to:__________

a. Understand the book of the value of depepreciable assets as of December 31.
b. adjust the accounts to their proper amounts on December 31.
c. understand total assets on the balance sheet as of December 31.
d. overstate the book value of the depreciation assets at December 31,

Answers

Answer:

sorrryyyyyyyyyysorrryyyyyyyyyysorrryyyyyyyyyy

The following data relate to Lebeaux Corporation for the year just ended: Sales revenue $ 750,000 Cost of goods sold: Variable portion 370,000 Fixed portion 110,000 Variable selling and administrative costs 50,000 Fixed selling and administrative cost 75,000 Which of the following statements is correct?
A) Lebeaux's variable-costing income statement would show a gross margin of $270,000.
B) Lebeaux's variable costing income statement would show a contribution margin of $330,000.
C) Lebeaux's absorption-costing income statement would show a contribution margin of $330,000.
D) Lebeaux's absorption costing income statement would show a gross margin of $330,000.
E) Lebeaux's absorption-costing income statement would show a gross margin of $145,000.

Answers

Answer:

B) Lebeaux's variable costing income statement would show a contribution margin of $330,000.

Explanation:

See below the Statements that are produced under Absorption and Variable Costing methods.

Absorption Costing

Sales revenue                                                        $750,000

Less Cost of goods sold :

Variable portion                           $370,000

Fixed portion                                  $110,000      ($480,000)

Gross Profit                                                            $270,000

Variable Costing

Sales revenue                                                                           $750,000

Less Variable Costs :

Variable portion - Cost of Sales                          $370,000

Variable selling and administrative costs            $50,000   ($420,000)

Contribution                                                                              $330,000

therefore,

The only correct statement is : Lebeaux's variable costing income statement would show a contribution margin of $330,000

AG Inc. made a $25,000 sale on account with the following terms: 1/15, n/30. If the company uses the gross method to record sales made on credit, what is the journal entry to record the sale

Answers

Answer:

Debit : Accounts Receivable  $25,000

Credit : Sales Revenue $25,000

Explanation:

The journal entry to record the sale would include a Debit to Asset Account - Accounts Receivable and Credit to Sales Revenue at the amount of sale including the cash discount.

Earning a promotion is made easier if you know the ______.

a. First and last name of your supervisor
b.Password to your company’s database is
c.Kind of characteristics your company values
d.Lunch order your supervisor favors

Answers

The answer is C. Kind of characteristics your company values

Answer:

c

Explanation:

XYZ Company uses a weighted-average process costing system. All materials at XYZ are added at the end of the production process. Equivalent units for materials at XYZ would be equal to:

Answers

Answer:

Equivalent units for materials at XYZ would be equal to the addition of units in beginning work in process and the units started.

Explanation:

A weighted-average process costing system refers to a process costing system in which expenses are averaged out and applied evenly to both units transferred out and units in ending work in process.

An equivalent unit of production is a measurement of the amount of work done by a manufacturer on partially completed units of output at the end of a fiscal period. In general, fully completed units and partially completed units are expressed as fully completed units.

When a weighted-average process costing system is being used, the equivalent units is obtained as the addition of units in beginning work in process and the units started.

Therefore, equivalent units for materials at XYZ would be equal to the addition of units in beginning work in process and the units started.

6. Guillermo and Nora adopted a little boy in 2020 and incurred a total of $18,000 qualified adoption expenses. Their modified AGI is $220,000. What is the amount of adoption credit they can take

Answers

Answer:

Guillermo and Nora

The amount of adoption credit that they can take is limited to:

= $14,300 in 2020.

Explanation:

a) Data and Calculations:

Modified AGI of Guillermo and Nora = $220,000

Total amount of qualified adoption expenses incurred in 2020 = $18,000

Limit of adoption credit available to the couple in 2020 = $14,300

Lost adoption expenses = $3,700 ($18,000 - $14,300)

b) The couple will not be able to take adoption credit amounting to $3,700 because the amount they spent on adoption expenses exceeded the adoption credit limit for 2020.

Wesley lives in a country with little protection under the law for conducting business or bringing his ideas about a revolutionary new car tire to the market with patent production. Because of the economic conditions what will Wesley most likely do?
A) Develop his tire and bring it to market with ease and minimal cost.
B) Find a country where he can develop his tire idea and have it protected under strong patent laws.
C) Keep his ideas in a notebook and sell them to the highest bidder.

Answers

Answer:

B

Explanation:

Patents are a right granted to an inventor to exclusively sell a product for a specific period of time usually for 20 years. During this period, others are prevented from making, using, or selling the invention.

Types of patents include:

1. utility patents

2. design patents

3. plant patent

Because Wesley's country does not have a strong patent law, the best option for Wesley is to move to a country with strong patent laws so his invention can be protected.

Best Brands Appliance Mart is getting ready for its annual Labor Day sale. There are two Best Brands stores, one in midtown Manhattan and another in Amityville. Merchandise is stored in two warehouses, one in Brooklyn and one in Baldwin. From experience in past years, the owners know the big mover during the sale is tablets. The Manhattan store needs 500, while the Amityville store will require 400. Each warehouse has 600 tablets in stock. It costs $1 and $2 to ship a tablet from Brooklyn to Manhattan and to Amityville, and $2 and $4 to ship one from Baldwin to Manhattan and Amityville. What is the best shipping strategy for getting the tablets from the warehouses into the stores to minimize the shipping cost?

Answers

Answer:

Explanation:

From the given information:

Assuming we represent x to be the tablets sent from Brooklyn to Manhattan

Thus, (500 - x) to be the tablets sent from Baldwin to Manhattan

Also, suppose we represent y to be the tablets sent from Brooklyn to Amityville

It implies that (400 - x) to be the tablets sent from Baldwin to Amityville

x ≥ 0 ; y ≥ 0  

⇒   500 - x ≥ 0  & 400 - y ≥ 0

The Shipping cost Z = 1(x) + 2(500-x) + 2(y) + 4(400-y)

Z = x + 1000 - 2x + 2y + 1600 - 4y

Z = x -2y + 2600

To minimize the shipping cost:

[tex]\left \{ 500-x \geq 0 \ \implies \ x\leq 500}} \atop {400-y \geq 0 \ \implies \ y\leq 400}} \right.[/tex]

Thus, by replacing the coordinate values (x,y) into Z, we have:

Point    Coordinates(x,y)    Value of Z (shipping cost)

0             (0,0)                             0

A             (0,400)                     1800

B             (500,400)                 1300

C             (500,0)                      2100

Hence, the minimum cost is 1300.

x = 500 units   and  y = 400 units

Karr, Inc., reported net income of $300,000 for 2011. Changes occurred in several balance sheet accounts as follows:
Equipment $25,000 Increase
Inventories $20,000 decrease
Accumulated depreciation 40,000 Increase
Accounts receivable 15,000 Increase
Note payable 30,000 increase
Accounts payable 5,000 decrease
Additional Information:
a. During 2011 Karr sold equipment costing $25,000, with accumulated depreciation of $12,000, for a gain of $5,000.
b. In December 2011 Karr purchased equipment costing $50,000, with $20,000 cash and a 12% note payable of $30,000.
c. Depreciation expense for the year was $52,000.
Required:
1. In Karr’s 2011 statement of cash flows, calculate net cash provided by operating activities.
2. In Karr’s 2011 statement of cash flows, calculate net cash used in investing activities.

Answers

Answer:Cash flow from operating activities = $347,000

Net cash used in Investing:=  -$2,000

Explanation:

1.

The net cash provided by operating activities by Karr, Inc., reported in 2011

Account Titles and explanation              Amount

Net income                                             $300,000

Adjustments made

Add:

Depreciation expense                            $52,000

Decrease in inventory                            $20,000

Less:

Increase in account receivable               -$15,000

Decrease in account payable                  -$5,000

Gain on sale of equipment                       -$5,000

Cash flow from operating activities           $347,000

2. Net cash used in Investing:

Sales of equipment =cost -depreciation + gain of sale

Sales of equipment                  18,000(($25,000-$12,000+$5,000)

Purchase of Equipment            20,000

Net cash used in Investing:=  -$2,000

Lemon Corporation purchased a truck at the beginning of 2017 for $109,200. The truck is estimated to have a salvage value of $4,200 and a useful life of 120,000 miles. It was driven 21,000 miles in 2017 and 29,000 miles in 2018. What is the depreciation expense for 2017

Answers

Answer:

the depreciation expense for 2017 is $18,375

Explanation:

The computation of the depreciation expense for 2017 is shown below:

= (Truck cost - salvage value) ÷ useful life in miles × driven miles in year 2017

= ($109,200 - $4,200) ÷ 120,000 miles × 21,000 miles

= $18,375

Hence, the depreciation expense for 2017 is $18,375

Therefore the above formula should be applied for the same

Accompanying a bank statement for Marsh Land Properties is a credit memo for payment on a $15,000 1-year note receivable and $900 of interest collected by the bank. Marsh Land Properties has been notified by the bank at the time of collection, but had made no entries.

Required:
Journalize the entry that should be made by Marsh Land to bring the accounting records up to date.

Answers

Answer:

Dr Cash $15,900

Cr Notes Receivable $15,000

Cr Interest Revenue $900

Explanation:

Preparation of the journal entry that should be made by Marsh Land to bring the accounting records up to date.

Dr Cash $15,900

($15,000+$900)

Cr Notes Receivable $15,000

Cr Interest Revenue $900

On January 1, Year 1, a contractor began work on a $3.2 million construction contract that is expected to be completed in 3 years. The contractor concludes that it is appropriate to recognize revenue over time using the input method based on costs incurred (cost-to-cost method). At the inception date, the estimated cost of construction was $2.4 million. The following data relate to the actual and expected construction costs:
Year 1 Year 2 Year 3
Cost incurred $720,000 $1,170,000 $1,110,000
Expected future costs $1,680,000 $810,000 $0
For this long-term construction contract, the contractor needs to calculate the estimated dollar values of the revenue and gross profit (loss) to be recognized each year.
Complete the contractor's long-term construction contract using the information above.
Revenue Gross Profit (loss)
Year 1
Year 2
Year 3

Answers

Answer:

Contractor's Long-term Construction Contract Table:

                 Revenue     Gross Profit (loss)

Year 1       $960,000       $240,000

Year 2    $1,386,667        $216,667

Year 3      $853,333      ($256,667)

Total     $3,200,000      $200,000

Explanation:

a) Data and Calculations:

Contract price = $3.2 million

Estimated cost of construction = $2.4 million

Actual and expected construction costs:

                                           Year 1       Year 2       Year 3

Cost incurred                  $720,000 $1,170,000 $1,110,000

Expected future costs $1,680,000    $810,000             $0

Revenue                        $

Year 1 = $720,000/$2,400,000 * $3.2 million = $960,000

Year 2 = $1,170,000/$2,700,000 * $3.2 million = $1,386,667

Year 3 = $853,333

                 Revenue     Gross Profit (loss)

Year 1       $960,000       $240,000 ($960,000 - $720,000)

Year 2    $1,386,667        $216,667 ($1,386,667 - $1,170,000)

Year 3      $853,333      ($256,667) ($853,333 - $1,110,000)

Total     $3,200,000      $200,000 ($3,200,000 - $3,000,000)

Instead of investing a lump of sum of $25000,Brittany Royer decides to svae the money in a vault for 2years. Assuming the inflation being 2.5%per year,how much will her purchasing power decline in 2years

Answers

Answer:

$1265.63

Explanation:

Inflation is a persistent rise in the general price levels

Types of inflation

1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise

2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect  

Loss in purchasing value = future value of the amount saved - amount saved

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years

$25000 (1.025)² = $26.265.625

Amount lost = $26.265.625 - $25,000 = $1265.63

Q1. SISKO & Co. Ltd commences business and issues one million shares with a nominal value of Le3 each. The company allows its allottees to pay Le1.25 on allotment and the remainder at a later date. All the allottees chose to do this and all the shares are sold. What is JEMILEX & Co. Ltd's paid-up share capital? A. Le1.25 million B. Le3 million C. Le1.75 million D. Le500,000 Q2. Cash Balance Le15,000; Trade Receivables Le35,000; Inventory Le40,000; Trade Payables Le24,000 and Bank Overdraft is Le6,000. Current Ratio will be : (A) 3.75:1 (B) 3:1 (C) 1:3 (D) 1 : 3.75​

Answers

Answer:

SISKO & Co. Ltd.

1. The paid-up share capital is:

A. Le1.25 million

2. Current Ratio will be:

(B) 3:1

Explanation:

a) Data and Calculations:

Issued share capital = 1,000,000 shares

Allotment = Le1.25 per share

Paid-up share capital = Le1.25 million (Le1.25 * 1,000,000)

Current Ratio:

Cash Balance                  Le15,000

Trade Receivables         Le35,000

Inventory                        Le40,000

Total current assets      Le90,000

Current liabilities:

Trade Payables             Le24,000

Bank Overdraft               Le6,000

Total current liabilities Le30,000

Current ratio = Current assets/Current liabilities

= Le90,000/Le30,000

= 3:1

Mcdormand inc reported a 3400 unfavorable price variance for variable overhead and a $34,000 nfavorable price variance for fixed overhead. The flexible budget had variable overhead based on 36,100 direct labor-hours; only 34,100 hours were worked. Total actual overhead was $1,810,400. The number of estimated hours for computing the fixed overhead application rate totaled 37,500 hours.

Required:
a. Prepare a variable overhead analysis.
b. Prepare a fixed overhead analysis.

Answers

Answer:

A. Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

B. Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

Explanation:

a. Preparation of a variable overhead analysis.

Variable overhead price variance = 3400 U

Calculation for Variable overhead efficiency variance

First step is to calculate the Actual input at standard rate

Actual input at standard rate = (34100*30)

Actual input at standard rate= 1023000

Second step is to calculate the Standard rate

Standard rate = 1083000/36100

Standard rate=30

Now let calculate Variable overhead efficiency variance

Variable overhead efficiency variance = (1083000-1023000)

Variable overhead efficiency variance = 60000 F

Calculation for Variable overhead cost variance

Variable overhead cost variance = (60000-3400)

Variable overhead cost variance= 56600 F

Therefore the variable overhead analysis will be:

Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

b. Preparation of a fixed overhead analysis.

Fixed overhead price variance = 34000 U

Calculation for Production volume variances

First step is to calculate Actual input at standard rate

Actual input at standard rate= 34100*30

Actual input at standard rate= 1023000

Second step is to calculate Fixed overhead actual

Fixed overhead actual= 1810400-(1023000+3400)

Fixed overhead actual= 784000

Third step is to calculate Budgeted fixed overhead

Budgeted fixed overhead = (784000-34000)

Budgeted fixed overhead = 750000

Fourth step is to calculate Fixed overhead applied

Fixed overhead applied= (750000/37500)*36100

Fixed overhead applied= 722000

Now let calculate Production volume variance

Production volume variance = (750000-722000) Production volume variance= 28000 U

Calculation to determine Fixed overhead cost variance

Fixed overhead cost variance = (28000+34000) Fixed overhead cost variance= 62000 U

Therefore fixed overhead analysis will be:

Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

In 2008, 1 Swiss franc cost .56 British pounds and in 2010 it cost .51 British pounds in 2010. How much would 1 British pound purchase in Swiss francs in 2008 and 2010

Answers

Answer:

1.78 Swiss franc

1.96 Swiss franc

Explanation:

Below is the calculation:

In the year 2008, 1 Swiss franc cost = 0.56 British pounds

In the year 2010, 1 Swiss franc cost = 0.51 British pounds

Now calculate the Swiss frac purchase by 1 bristish pound.

In the year 2008,  1 British pound will purchase = 1 / 0.56 = 1.78 Swiss franc

In the  year 2010,  1 British pound will purchase = 1 / 0.51 = 1.96 Swiss franc

Jerry's Flowers had the following cost information related to its purchases of merchandise. Calculate the total cost of merchandise purchased using the information below: Invoice cost of merchandise purchases $100,000 Purchase discounts received $ 9,000 Cost of transportation-in (shipping) $ 500 Costs of purchase returns and allowances $ 400

Answers

Answer:

$91,100

Explanation:

Calculation to determine the total cost of merchandise purchased

Using this formula

Total cost of merchandise purchased = Invoice cost of merchandise purchases + Cost of transportation in - Purchase returns and allowances - Purchase discount

Let plug in the formula

Total cost of merchandise purchased= $100,000 + $500 - $400 - $9,000

Total cost of merchandise purchased= $91,100

Therefore the total cost of merchandise purchased is $91,100

Which printing method is best for Bath Bomb Container?

Answers

Answer:

One of the most typical methods for Custom Bath Bomb Container is flexographic and offset printing. https://custompackagingpro.com/product/custom-printed-bath-bomb-packaging-boxes

Identify whether a debit or credit results in the indicated change for each of the following accounts.

a. To increase Land
b. To decrease Cash
c. To increase Fees Earned (Revenues)
d. To increase Office Expense
e. To decrease Unearned Revenue
f. To decrease Prepaid Rent
g. To increase Notes Payable
h. To decrease Accounts Receivable
i. To increase Common Stock
j. To increase Store Equipment

Answers

Answer:

a. To increase Land - Debit

b. To decrease Cash - Credit

c. To increase Fees Earned (Revenues) - Credit

d. To increase Office Expense - Debit

e. To decrease Unearned Revenue - Debit

f. To decrease Prepaid Rent - Credit

g. To increase Notes Payable - Credit

h. To decrease Accounts Receivable - Credit

i. To increase Common Stock - Credit

j. To increase Store Equipment - Debit

Explanation:

Debit gives details of spending, sum owed , amount to balance which is usually recorded to the left side of an account entry book while credit gives the details of income, amount earned or made on sale, spending cut and revenue and is usually placed to the right hand column of an account entry.

According to rational expectations theory, Question 7 options: every day is a new day and yesterday's occurrences have no bearing on today's decisions. when making decisions a person will consider only information based on past experience. even though a person considers information related to future events as potentially important for decision making, he realizes that such information is unreliable and worthless. past experience is a good guide for decision making, but so is information related to possible future outcomes.

Answers

Answer:

past experience is a good guide for decision making, but so is information related to possible future outcomes.

Explanation:

The rational expectations theory refer to a concept and modeling technique that is applied widely in macroeconomics. In this the individual depend their decision on three main factors i.e. human rationality, available information and the past experience

As per the rational expectations theory the future should always be taken in expectation with regard to the decisions and it is vital for the same.

So as per the given situation, the above should be the answer

SOX requires the Chief Executive Officer (CEO) and which corporate officer to certify the accuracy of the financial statements?

Answers

Answer:

SOX requires the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO) to certify the accuracy of the financial statements.

Explanation:

This requirement ensures the public accountability of the top chief executive officers of publicly-traded companies.  The CEO is at the helm of affairs of the company, while the CFO has responsibility for the financial records, which produced the financial statements.  This is the reason that the two top managers are required to sign off the financial statements, thus, vouching their accuracy.

Consider the following transactions for
BigGuy Toys​:
Apr. 7 BigGuy Toys purchased $198,800 worth of MegoBlock toys on account with credit terms of 2/10, n/60.
Apr. 13 BigGuy Toys returned $19,800 of the merchandise to MegoBlock due to damage during shipment.
Apr. 15 BigGuy Toys paid the amount due, less the return and discount.

Required:
a. Journalize the purchase transactions. Explanations are not required.
b. In the final​ analysis, how much did the inventory cost BigGuy Toys​?

Answers

Answer and Explanation:

a. The journal entries are shown below:

On April 7

Merchandise inventory $198,800

          To Account payable $198,800

(being the inventory purchase on account)

On April 13

Account payable $19,800

         To Merchandise inventory $19,800

(Being returned inventory is recorded)

On April 15

Account payable ($198,800 - $19,800) $179,000

          To Cash (98% of $179,000) $175,420

          To Merchandise inventory $3,580

(being the amount paid is recorded)

b. The inventory cost should be $175,420

hester Corp. ended the year carrying $18,711,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Chester Corp.

Answers

Answer:

$18,711,000

Explanation:

Based on the information given the amount of more revenue would it have brought to Chester Corp will be $18,711,000

Time value of money calculations can be solved using a mathematical equation, a financial calculator, or a spreadsheet. Which of the following equations can be used to solve for the future value of an ordinary annuity?
1) PMT x {1 – [1/(1 + r)nn]}/r
2) PMT x {[(1 + r)nn – 1]/r}
3) FV/(1 + r)nn
4) PMT x {[(1 + r)nn – 1]/r} x (1 + r)

Answers

Answer:

b.  PMT x {[(1 + r)nn – 1]/r}

Explanation:

The formula that should be calculated for the future value of an ordinary annuity is shown below:

= PMT × {[(1 + r)^n - 1] ÷ r}

Here

PMT denotes the coupon payment

r denotes the rate of interest

n denotes the time period

So as per the given situation, the option b is correct

Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are shown below:
Number
Date Transaction of Units Per Unit Total
Jan. 1 Inventory 7,500 $75.00 10
Purchase 85.00 22,500 11,250
28 Sale $562,500 1,912,500 1,687,500
562,500 150.00 30 Sale 3,750 150.00
Feb. 5 Sale 1,500 150.00 225,000
10 Purchase 54,000 87.50 4,725,000
16 Sale 27,000 160.00 4,320,000
28 Sale 25,500 160.00 4,080,000
Mar. 5 Purchase 45,000 89.50 4,027,500
14 Sale 30,000 160.00 4,800,000
25 Purchase 7,500 90.00 675,000
30 Sale 26,250 160.00 4,200,000
1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.
2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.
3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.
4. Compare the gross profit and the March 31 inventories, using the following column headings.

Answers

Answer:

1. We have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. We have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. We have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. We have:

Details                               FIFO               LIFO                Weighted Average

                                              $                     $                                 $

Sales                            19,875,000      19,875,000                 19,875,000

Cost of Goods sold    (10,891,875)      (11,021,250)                 (10,921,525)  

Gross Profit                  8,983,125        8,853,750                     8,953,475

Inventory, March 31       1,010,625           881,250                      980,975

Explanation:

1. Determine the inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

Note: See part 1 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the first-in, first-out method and the periodic inventory system.

From the part 1 of the attached excel file, we have:

Inventory on March 31 = $1,010,625

Cost of merchandise sold for the three-month period = $10,891,875

2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

Note: See part 2 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

From the part 2 of the attached excel file, we have:

Inventory on March 31 = $881,250

Cost of merchandise sold for the three-month period = $11,021,250

3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.

Note: See part 3 of the attached excel file for the determined inventory on March 31 and the cost of merchandise sold for the three-month period, using the weighted average cost method and the periodic inventory system.

From the part 3 of the attached excel file, we have:

Inventory on March 31 = $980,975.27

Cost of merchandise sold for the three-month period = $10,921,524.73

4. Compare the gross profit and the March 31 inventories, using the following column headings.

Details                               FIFO               LIFO                Weighted Average

                                              $                     $                                 $

Sales                            19,875,000      19,875,000                 19,875,000

Cost of Goods sold    (10,891,875)      (11,021,250)                 (10,921,525)  

Gross Profit                  8,983,125        8,853,750                     8,953,475

Inventory, March 31       1,010,625           881,250                      980,975

On June 30, 2009, Apricot Co. paid $5,000 cash for management services to be performed over a two-year period. Apricot follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31, 2009 for Apricot would include:

Answers

Answer:

A debit to Management Services Expense for $1,250.

Explanation:

The adjusting entry for apricot would include that

There is a debit to the  Management Services Expense for

= $5,000 ÷ 2 years × 6 months ÷ 12 months

= $1,250

Hence, the adjusting entry for apricot would include a debit to the  Management Services Expense for $1,250

The same should be considered and relevant

Suppose a newly elected president cuts taxes by 20 percent: i. Assuming that the money supply is held constant, what are the new equilibrium interest rate and income

Answers

Answer: hello your question has some missing information below is the missing information

An economy is initially described by the following equations:

C = 80 + 0.8(Y – T)

I = 120 –5r

M/P = Y – 25r

G = 100

T = 100

M = 2,700

P = 3

answer :

equilibrium interest rate ( r ) = 5.6%

equilibrium level of income = 1040

Explanation:

a) New equilibrium interest rate

T = 100 - 20/100 ( 100 ) = 80

Y = C + I + G

   = 80 + 0.8( y - 80 ) + 120 - 5r + 100

   = 236 + 0.8y - 5r

y  = 1180 - 25r  ------ ( 1 )

M/P = Y - 25r = 2700 / 3

y = 900 + 25r ------- ( 2 )

equate;  equation ( 1 ) and equation ( 2 )

1180 - 25r = 900 + 25r

∴ r = 5.6%

b) Equilibrium level of Income

To determine Equilibrium level of income we will use equation2

Y = 900 + 25(5.6)  = 1040

Suppose that the turkey industry is in long-run equilibrium at a price of $5 per pound of turkey and a quantity of 400 million pounds per year. Suppose that WebMD claims that a protein found in turkey will increase your expected lifespan by 2 years. WebMD's claim will cause consumers to demand _____________turkey at every price.

Answers

Answer:

The "WebMD's claim will cause consumers to demand ______more_______turkey at every price."

Explanation:

Consumers will tend to demand more turkey in order to increase their expected lifespan by 2 years by consuming more of the protein found in turkey as claimed by WebMD.  This implies that there will a new equilibrium as the old equilibrium shifts outward to match the increased demand by consumers of turkey.  This claim may trigger demand and supply to exceed the annual 400 million pounds equilibrium at $5 per pound.

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.
20Y3 20Y2 20Y1
Accounts receivable, end of year $725,000 $650,000 $600,000
Sales on account 5,637,500 4,687,500
a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume a 365-day year. 20Y3 20Y2 1.
b. The collection of accounts receivable has___. This can be seen in both the___in accounts receivable turnover and the____in the collection period.

Answers

Answer:

1.                                                             20Y3             20Y2

A  Sales on account                          $5,637,500    $4,687,500

B Beginning Accounts receivables  $650,000      $600,000

C Ending accounts receivables        $725,000      $650,000

Average accounts receivables        $687,500      $625,000 [D=(B+C) / 2[

Accounts receivables Turnover        8.2                 7.5             [E=A/D]

No of days in sales receivables       44.5                48.7          [F=365 / E]

2. The collection of account receivables has INCREASED. This can be seen in both the INCREASE in accounts receivables turnover and the DECREASE in collection period.

In the interest formulas, a simple interest can be used in any of the single payment formulas as long as the 'n values correspond to the interest period?
A) True
B) False

Answers

Answer:

False

Explanation:

Apart from simple interest, compound interest can be used for single payments

the formula for compound interest is : future value - present value

The formula for calculating future value:

FV = P (1 + r)^n

FV = Future value  

P = Present value  

R = interest rate  

N = number of years  

The formula for simple interest : amount x time x interest rate

Assume that 1000 is to be received in 2 years at the interest rate of 10%

Simple interest = 1000 x 2 x 0.1 = 200

Compound interest

1000 x (1.1)^2 = 1210

1210 = 1000 = 210

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