Equipment with an estimated useful life of 4 years and an estimated residual value of $1,000 is acquired at a cost of $12,000. Using the double-declining-balance method, what is the amount of depreciation for the first year of use of the equipment?

Answer:

D) markets usually lead to efficiency.

Explanation:

The incentives built into the economy ensures that the efficiency is achieved in markets except in case of market failure.

Answer:All of these are correct.

Explanation:CRM(customer relations management) is a concept applied by Organisations to help them manage their relationship with their customers,it helps to know what customers need and do the necessary changes or actions to meet them.

Analytical customer relationship management has to do with the analysis(slicing and dicing)carried out on customer information in order to understand the values customer have for a given product or service, customer spending choices and customer segmentation. Analytical CRM is very useful in making effective customer satisfaction and customer relationship.

Answer:

The correct answer is letter "B": the accounting data for the last five years.

Explanation:

A Business Plan is a written document that states how a company will achieve its goals. Few good companies last long without one. Business plans give direction to new companies, while established ones used them to determine new ventures. A business plan should paint a clear picture of the costs and drawbacks that come with each important decision.

Requesting and analyzing accounting data for the last five years is not included in the making of a business plan.

Answer:

d. $63

Explanation:

This "thank you" classifies as a performance bonus and, therefore, Edwina should include the whole market value plus dividends received from the three shares of Ed's TV Repair stock that she earned. The total amount for the shares' value plus dividends earned is:

[tex]A = 3*(\$20+\$1)\\A=\$63[/tex]

Edwina should include $63 in her gross income.

Answer:

True

Explanation:

Qualified dividends are ordinary dividend that enjoy special tax privilege by being taxed at lower rate. The rate is based on specific tax rate which range from  0% to 20% depending on the income threshold. Though these dividends are taxed based on this specific lower tax rate compare to income tax rate, they are also subjected to net investment income of 3.8% if they earn above certain threshold.

However for dividends to be qualified, it must meet the two requirements given by the Internal Revenue Service (IRS). The requirements are:

*The dividend must have been paid by an entity incorporated in the United States or a qualifying foreign entity.

* The stock must have been held within the minimum holding period specified by the tax law.

So the answer is true because qualified dividends may be subject to a marginal tax rate of 23.8% for taxpayers with income over a certain threshold as explained above.

I would expect an online retailer to have a higher asset turnover over a brick-and-mortar retailer because they are more adaptable to change as per the customers choice ,they have many choice options for their customers and are more relaxed  with their product  pricing strategy.

Explanation:

Asset turnover ratio is used to calculate the productivity of an asset.A company's productivity is directly proportional to its asset turn over ratio.

The formula for calculating

Asset Turnover Ratio =Total Sales of an asset/Average total asset

The supply chain drivers that affect asset turnover are Accounts receivable,inventory ,transportation,information, facilities,sourcing and pricing.

An online retailer typically has a higher asset turnover than a brick-and-mortar retailer due to fewer physical assets. However, key supply chain drivers like production, inventory, location, transportation, information, and sourcing also significantly impact asset turnover.

Generally, an online retailer is likely to have a higher asset turnover than a brick-and-mortar retailer. This is because online retailers typically need fewer physical assets to operate and can therefore generate more sales per dollar of assets. However, other factors such as their inventory management and supplier relationships can also impact asset turnover.

The key supply chain drivers that impact asset turnover include production, inventory, location, transportation, information, and sourcing. Efficient management of these drivers can help reduce asset levels and increase sales, thus improving asset turnover. For instance, a company with efficient inventory management and supplier relationships may have a higher asset turnover ratio than its competitors even if it operates physical stores.

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Relational integrity constraints ensure data quality and consistency in a relational database, while business rules are broader guidelines for organizational success. Relational integrity constraints focus on the database, while business rules consider the organization as a whole.

Relational integrity constraints are rules that are applied to the data in a relational database to ensure its quality and consistency. These constraints can include primary key constraints, foreign key constraints, and other rules that define the relationships between tables in the database. They ensure that data is correctly and consistently stored and manipulated.

On the other hand, business rules are specific rules or guidelines that are defined by an organization to ensure its success and operational efficiency. These rules can include policies, regulations, and best practices that govern the behavior and actions of the organization's members.

In comparison, while relational integrity constraints primarily focus on the data integrity and consistency within a database, business rules encompass a broader scope and consider the overall goals and requirements of the organization. Both are important for the success of an organization, but business rules often require more insight and knowledge specific to the organization.

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Answer:

B. buyer must pay $2.33 per gallon for the rest of the year.

Explanation:

The correct answer is B. The seller agrees to supply gasoline for next year at $3 per gallon, the buyer agreed to it. When the gasoline prices declined the buyer insisted to reduce price and seller agreed to it. When the prices rise again the seller asked to raise price but buyer refused. Buyer cannot terminate the contract instead it has to continue buying at $2.33 per gallon if the seller is agreed to sell on this price for the rest of the year.

Answer:

d. may be involved with the sale of new marketing programs to clients.

Explanation:

A revenue center manager -

It refers to the person , who is responsible for the generation of the sales , is referred to as a revenue center manager .

A good revenue center manager is determined by his or her ability to generate the sales , not  by the cost incurred .

Hence , from the given question,

The correct option is d.

Answer:

The answer is b. $104,800

Explanation:

W-2 for Jan $52,300+  Sam $48,700 + canceled debt income of $1,800 + state lottery winnings of $2,000 = $104,800

Answer and explanation:

Marginal Utility refers to the benefit or satisfaction obtained from consuming one more unit of a good or service. In economics, something has utility if it satisfies any consumer want or needs whether for usefulness or pleasure. It is a subjective term.

Thus, if the price of ticket movies decreases, its marginal utility will decrease and the marginal utility of tickets for basketball games will increase.

Answer:

0.06 per spike set sold

Explanation:

The computation of the variable marketing cost per spike set is shown below:

Variable cost per spike set  = (High total marketing cost - low total marketing cost) ÷ (High sales volume - low sales volume )

= ($83,092 - $72,871) ÷ (561,080 - 390,728)

= $10,221 ÷ 170,352

= 0.06 per spike set sold

Hence, the variable marketing cost per spike set is $0.06

Answer:

C. (0.323)

Explanation:

The computation of financial leverage is shown below:

= (Average net nonoperating obligations) ÷ ( average equity)

= ($4,033 million) ÷ ($12,483 million)

= (0.323)

In order to find out the financial leverage, we deduct the average net non-operating obligations by the average equity so that the financial leverage could come

The financial leverage (FLEV) for Nike Inc. in 2016 is approximately 1.91. None of the provided options in the choices accurately represents this ratio, as FLEV is typically a positive value.

To calculate the financial leverage (FLEV) for Nike Inc. in 2016, you can use the following formula:

[tex]\[FLEV = \frac{NOA}{NOA + NNO}\][/tex]

Where:

- NOA = Average Net Operating Assets

- NNO = Average Net Nonoperating Obligations

Plugging in the given values:

NOA = $8,450 million

NNO = $(4,033) million (note that this value is negative)

[tex]\[FLEV = \frac{8,450}{8,450 - 4,033} = \frac{8,450}{4,417} \approx 1.91\][/tex]

Since the result is positive, the correct answer is none of the provided options.

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Answer: D. Dollarization

Explanation: Ecuador officially changing its currency to the US dollar means that it has substituted its Sucre with the Dollar. This is termed dollarization, also known as currency substitution, a process whereby a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency. It has its advantages as well as disadvantages. Some of the advantages include lower administrative costs, a firm basis for a sounder financial sector, and lower interest rates. Its disadvantages ranges from the loss of monetary autonomy, national symbol as well as greater vulnerability to foreign influence among others.

Answer:

Explanation:

1. Calculate the CPI

CPI is the consumer price index.

CPI is created using a basket of goods and services that are typically consumed.

In the given case the typical basket is:

Then to find the CPI for a determined year you multiply each item by its price and then add up all the results.

For the base year, the expenditures per month were:

Then, the CPI for the base year is:

The year following the base year, the expenditures per month are:

Then the CPI for the followng year is:

2. Calculate the rate of inflation

The rate of inflation is defined as the increase of the CPI of the given year with respect ot the base year:

The formula to calculate the rate of inflation is:

Hence, the rate of inflation for the subsequent year is 13.5%

Answer:

formula for maintenance cost:

maintenance cost = 1.7 visitors + 262.5

cost for 2,800,000 visitors $5,022,500

Explanation:

We find and subtract low from high:

[tex]\left[\begin{array}{ccc}High&4325&7615\\Low&1925&3535\\Diference&2400&4080\\\end{array}\right][/tex]

With that we solve for the slope which is the variable cos:

cost 4080

Unis 2400

variable cost 1.7

now, we solve for the fixed cost:

Total Cost                7615.00

Variable 4325 x 1.7 =  7352.50  

Fixed Cost                  262.50

expected cost for 2,800 visitors:

(2800 x 1.7 + 262.5) x 1,000 = 5,022,500‬

Answer:

(a) Cumulative dividend is not reported in Balance sheet.

The dividends in arrears on December 31, 2014 is $240,000

(b) Preferred Stock (Dr.) $400,000

    Common Stock (Cr.) $280,000

     Paid in capital Excess of par (Cr.) $120,000.

(c) Cash (Dr.) $1,070,000

    Preferred Stock (Cr.) $1,000,000

    Paid in capital (Cr.) $70,000

Explanation:

a. Cumulative dividends on Preferred stocks are not declared and therefore they are not reported in Balance sheet of a company.

To calculate the dividends in arrears on December 31, 2014,

10,000 shares * $100 par value * 8% preferred stock. * 3 years arrears.

= $240,000.

b. Preferred stock conversion into common stock is recorded as common stock account in balance sheet.

Preferred stock conversion amount is 4,000 shares * $100 par value = $400,000. This is presented as debit entry.

The credit entry will be common stock account with $ 280,000 (4,000 * 7 shares conversion * $10 par value).

The difference in both entries will be recorded as paid in capital as credit.

c. When preferred stock is issued cash is increased so debit account will be cash (10,000 shares * $107 per share) and credit entry will be Preferred Stock account in balance sheet at par value (10,000 shares * $100 par value). The remaining is credited in paid in capital of preferred stock account  [10,000 shares * $7 ($107 - $100) per share].

The dividends in arrears should be reported as $240,000 on the December 31, 2014 balance sheet. When preferred stocks are convertible and 4,000 are converted, the business needs to debit Preferred Stock and credit to Common Stock. If the preferred stock was issued at $107, it is reported in the equity section as Preferred Stock and Paid-in Capital in Excess of Par (Preferred Stock).

(a) Dividends in arrears are calculated as the difference between the last payment date and the date of the Balance sheet. There are three years between December 31, 2011, and December 31, 2014. So, we need to calculate three years of dividends. The amount of the annual dividend is calculated as 8% of the par value (i.e., $100), so the annual dividend per share is $8. For 10,000 shares, it's $80,000 per year. Thus, for three years, it's $80,000 * 3 =  $240,000.

(b) If the preferred stock is convertible and 4,000 shares are converted, the entries would be a debit to Preferred Stock for $400,000 (4,000 shares times $100 par value), a debit to Paid-in Capital in Excess of Par (Preferred Stock) for the amount that the preferred stock was issued above its par value (if any), and a credit to Common Stock for $280,000 (4,000 shares times 7 new shares per original share times $10 par value) in the financial journal.

(c) If the preferred stock was issued at $107 per share, the preferred stock would be reported in the shareholders’ equity section as Preferred Stock ($1,000,000) and Paid-in Capital in Excess of Par (Preferred Stock) ($70,000).

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Answer:

The equity will decrease through retained earnigns for 3,000,000 dollars

Explanation:

The company's accounting will distribute the shares at the carrying value of the shares which is $5 per share as for them that is how much they are worth.

600,000 shares x $5 each = $3,000,000

retained earnings 3,000,000 debit

 investment on Comption        3,000,000 credit

The equity will decrease through retained earnigns for 3,000,000 dollars

Answer:

a. $537,300

b.            Aikman Company  

             Income Statement  

For the year ended December 31, 2022  

Sales Revenue                 $910,000

Less: Cost of goods sold  

Raw material, beginning               21,000

Add:Purchases                  150,000

Raw materials available    171,000

Less: Raw material, end    30,000

Cost of raw material used    141,000

Add: Direct labor                  220,000

Prime Cost                           361,000

Add: Factory overhead   180,000

Manufacturing cost            541,000

Add: Work in process, beginning   13,500

Less: Work in process, Ending     17,200

Cost of Goods Manufactured  537,300

Add: Finished Goods, beginning   27,000

Less: Finished Goods, Ending    21,000

Cost of Goods Sold          543,300

Gross Profit                 $366,700

c. Raw materials, ending $30,000

Work in process, ending $17,200

Finished goods, ending $21,000

Total inventory               $68,200

d. The difference in the balance sheet and income statement of Aikman Company to Merchandising company is that, Aikman income statement consists of expenses arising from the manufacturing of goods that the merchandising company never incur. In addition to that, Aikman Company has ending inventory of Raw materials, work in process and finished goods while the other merchandising company only has ending inventory of good purchased not yet sold.

Explanation:

a. Aikman's statement of goods manufactured is presented below.    

               Aikman Company

Statement of Cost of Goods Manufactured

For the year ended December 31, 2022

Raw material, beginning               21,000

Add:Purchases                  150,000

Raw materials available    171,000

Less: Raw material, end    30,000

Cost of raw material used    141,000

Add: Direct labor                  220,000

Prime Cost                           361,000

Add: Factory overhead   180,000

Manufacturing cost            541,000

Add: Work in process, beginning   13,500

Less: Work in process, Ending     17,200

Cost of Goods Manufactured  537,300

b. Income statement of Aikman starts from the sales revenue that the company incurs for the period and then deduct the cost of goods sold to arrive the gross profit.

c. Aikman's inventory balance consists of Raw materials, work in process and finished goods balances.

The cost of goods manufactured for Aikman Company is calculated by adding materials, labor, and overhead costs to the opening WIP inventory and subtracting the ending WIP inventory. This is deducted from sales revenue to reveal gross profit. A merchandising company’s financial statements differ in that their COGS does not involve production costs.

To calculate the Cost of Goods Manufactured (COGM) for Aikman Company, we need to add the costs of materials, labor, and manufacturing overhead to the beginning Work in Process (WIP) inventory, and then subtract the ending WIP inventory. The COGM is the total cost incurred to manufacture products and transfer them into finished goods inventory during a set time period.

To prepare an income statement through gross profit, we need to subtract the COGM from the sales revenue. The balance left is the gross profit. The ending inventories would be presented under the current assets section in the balance sheet dated December 31, 2022.

Comparatively, a Merchandising company's financial statements differ mainly in terms of cost calculation. These companies directly purchase finished goods, thus their Cost of Goods Sold (COGS) would not include production costs such as direct labor or manufacturing overhead that are common for manufacturing companies like Aikman.

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Answer: option B: False

Explanation:

Liabilities and Expenses will both be understated

Answer:

False

Explanation:

Warranty accruals will be accounted for when incurred through the following entries,

Debit Warranty expense

Credit Warranty accrual

Using the history as a basis for accrual estimating the  warranty expenses at 2% instead of 5% would result in an understatement of the two accounts stated above.

These are the expense and accrual accounts. As such the answer is false

Answer:

Wages expense 240,000

  medicare payable          3,600 credit

  social security payable 14,400 credit

  wages payable          222,000 credit

payroll taxes         20,205‬ debit

   FUTA payable                  280  credit

   SUTA payable                1,925  credit

  medicare payable          3,600 credit

  social security payable 14,400 credit

Explanation:

                   MEDICARE 1.5% Social Security 6&

OASDI/HI    $ 240000 3600       14400

FUTA&SUTA $ 35000 SUTA: 5.5% = 1925 FUTA 0.8% = 280

NET WAGES:

240,000 - 3,600 - 14,400 =222,000

payroll taxes:

the employe pays the same amount for OASDI and HI and also pays FUTA and SUTA

14,400 + 3,600 + 1,925 + 280 = 20,205‬

Answer:

price for selling 3000 share right is $25060.87

Explanation:

Given data:

Total Amount raised=   $4,400,000  

Spreading rate = 6%

Subscription price =   $20 per share

Number of share owned by company = 500,000

Per share cost  = $45

Totals share own in the company = 3000

subscription price after deducting spreading rate [tex]= 20\times (1 -0.06) = $18.80[/tex]

Now, Right share [tex] = \frac{4400000}{18.8} = 234,043[/tex]

Right price is calculated as

Right price = ((Number of share held * market price) + (Right share *Right price))/( Number of share held + Right share)

plugging all value in above relation

                 [tex]= \frac{500000 \times 45 + 234043\times 18.8}{500000 + 234043}[/tex]

Right share = $36.65

single right value = 45- 36.65 = $8.35

Price for 3000 share right = 8.35 *3000 = $25060.86

Answer:

a.  $280,000 after 5 years.

b. $200,000 immediately after retirement.

c.  $200,000 immediately after retirement.

Explanation:

The future value of a $200,000 payment, after 5 years at a rate 'r' is:

[tex]F = 200,000*(1+r)^5[/tex]

For each rate 'r', your mom should only choose to receive the $200,000 immediately on retirement if F > $280,000, otherwise she should opt for the $280,000 in 5 years.

a. 0 % per​ year

[tex]F = 200,000*(1+0)^5\\F= \$200,000[/tex]

She should opt for the $280,000 after 5 years.

b. 8 % per​ year

[tex]F = 200,000*(1+0.08)^5\\F= \$293,865.62[/tex]

She should opt for the $200,000 immediately after retirement.

c. 20 % per​ year

[tex]F = 200,000*(1+0.2)^5\\F=\$497,664[/tex]

She should opt for the $200,000 immediately after retirement.

The balance sheet of the Bowler Corporation for 2021 includes total assets of $196,000 (cash, accounts receivable, inventory, and net equipment), total liabilities of $106,000 (accounts payable and salaries payable) and total equity of $90,000 (common stock and retained earnings). The sum of total liabilities and total equity equals the total assets, corroborating the fundamental accounting equation.

The Balance Sheet of Bowler Corporation for the year ending 2021 would look like this:

=$196,000

=$106,000

=$90,000

Do note that the Total Assets is equal to Total Liabilities plus Total Equity which satisfies the fundamental accounting equation.

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Answer:

D. 20 dogs walked and 4 dogs groomed

Explanation:

The point (20,4) comes inside of the PPF, if we place all the point on a graph paper then we get a graph where the point (20,4) is inside than the other points so it is not on the PPF .

Answer:

The correct answer is letter "C": How the bill is shared has no effect on what and how much people choose to eat.

Explanation:

Regardless of the price, the friend who likes steak, the other who drinks wine, and the vegetarian are unlikely to change their eating preferences. Just because the bill is to be shared it does not imply that the vegetarian will eat stake or that the friend who eats steak will prefer to choose wine.

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

Answer:

(c) Interview customers to get their opinion about the checkout process  

Explanation:

Customers are those who buy goods or receive services from a business owner. Customers may sometimes not be the consumers because the customers may buy from the company and sell to other people to consume. The customers may also be the consumers at times when they consume what they bought. If customers do not buy from the business owners, they won't be consumers, thou consumers are gods in today's market and life wire of any business.Once customers are satisfied with the products and services provided to them by the company, they will continue to patronize the company and never substitute it for another company.Most companies start having problems or loose customers due to  nonsatisfaction of goods and services render by the company. Therefore, interviewing the customers to get their opinion about the checkout process is the best approach for gaining more insight into the problem because they are in the best position to state why they are not patronising the company's product again.

Answer:

a. Conduct a focus group with half a dozen or so cashiers and baggers to allow them an opportunity to identify issues with the checkout process and QueVision system.

Explanation:

Answer:

This problem requires us to pass journal entry to assign overhead to the Assembly and Finishing Departments.

We know that overhead is allocated on estimation basis through applied overhead account. The basis of assignment is given in the question. The overhead will be assigne/recorded in relevant department work in process cost account. The journal entry is given below.

Debit Assembly WIP Account                         $ 70,720

(44,200*1.6 = 70.720)

Debit Finishing WIP Account                           $ 28,000

((62,200-44,200)*1.6 = 28,800)

Credit Factory Overhead applied Account    $ 99,520

Manufacturing overhead is allocated to departments based on 160% of labor costs. The assembly department uses more labor thus gets assigned more overhead ($70,720) compared to the Finishing Department ($28,800).

The subject of this question is business, specifically the journalization of costs in a manufacturing firm. To address this, let's first lay out what we know.

The Assembly Department used $31,900 of raw materials and $44,200 of factory labour. The Finishing Department used the remainder which means they used ($52,200 - $31,900) of raw materials or $20,300 and ($62,200 - $44,200) of factory labour or $18,000.

Next, as per the information given, manufacturing overhead is assigned to the departments on the basis of 160% of labor costs. For the Assembly Department, this would be (160/100) * $44,200 which is equal to $70,720. For the Finishing Department, it would be (160/100) * $18,000 which is equal to $28,800.

Therefore, the assembly department is assigned $70,720 in overhead whereas the Finishing Department gets assigned $28,800.

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Answer:

BEFH  is the critical path of this project with total duration of 16 weeks

Explanation:

Activity     Predecessor     Time

A                -                          1

B                -                          4

C                A                         1

D                B                         5

E                 B                         2

F                 C,E                      7

G                 D                        2

H                F,G                      3              

First we draw the network diagram, as shown in the attachment, according to the predecessors of each activity.

Critical activties have zero float (i.e, difference in values of final and initial start or finish of activty)

Critical Path: BEFH

Length: As shown in figure the length of critical path is 16 weeks. In other words, it takes 16 weeks to complete the project.

Answer:

Explanation:

The activities on the critical path are BEFH

The length of the critical path is 16 weeks