The correct option is - A ( Risky shift)
Explanation:
Risk is the product of the probability and impact of an event. In this case A Cyber event.
There are 4 main ways to handle risk: Avoidance, mitigation, transfer and acceptance.
To avoid risk usually means to stop the activity or process which poses that risk. For instance: to avoid the risk of a hacker gaining access to the company through the internet, a company may choose to cut off all connection to the internet.
Avoidance is highly irregular, it will interfere with business processes and usually used as a last resort when the risk cannot be handled in any other way. Avoidance is mostly used by military and government organizations.
Most viewers of the sitcom Blonde Dream also watch Euphony, a music-based reality show, which is broadcast immediately after Blonde Dream.
An ad for Savor chocolates placed during both of these shows would most likely result in:
A. average coverage.
B. unduplicated reach.
C. duplicated reach.
D. increased sweeps periods.
E. high cost per thousand.
Answer:
The correct answer is letter "C": duplicated reach.
Explanation:
Duplicated reach refers to an advertisement that could have been seen by the same individual in the audience through different mediums. The activity receives the name of duplicated reach but the promotion can reach people through multiple ways such as television, radio, the internet, social media, billboards, to mention a few.
In the example, the Savor chocolate advertisement has a double reach since it is portrayed during the transmission of two different TV shows using one single channel (television).
Losses on purchase commitments are recorded at the end of the current year when:______.A. The purchase contract is irrevocable.B. The contractual cost of the inventory in an irrevocable purchase contract exceeds the current cost.C. The current cost of the inventory is less than the inventory cost in the purchase contract.D. The buyer purchased a quantity of inventory that was not sufficient to avoid a LIFO liquidation.
Losses on purchase commitments are recorded at the end of the current year when the contractual cost of the inventory in an irrevocable purchase contract exceeds the current cost.
Explanation:
In order to recognise a failure, both qualities are needed.
The organisation must fulfil a deal by charging more than current costs over a later period and is therefore at the end of this year in a losing situation.
In the financial statements of the preceding journal entry the purchasing obligation loss is recorded. The deduction is the deficit reported in the company's income statement in the time during which price declines happened.
Green Day Corporation has outstanding 411,800 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the stock is $74 per share.
Prepare the journal entries for Green Day Corporation for both the date of declaration and the date of distribution.
Explanation:
The journal entries are shown below:
a. Retained earning A/c Dr $3,047,320
To Paid-in capital in excess of par A/c $2635,520
To Common stock dividend distributable A/c $411,800
(Being the date of declaration is recorded)
It is computed below:
For retained earning
= 411,800 shares × $74 × 10%
= $3,047,320
For common stock, it is
= 411,800 shares × $10 × 10%
= $411,800
b. Common stock dividend distributable A/c Dr $411,800
To Common stock A/c $411,800
(Being the date of distribution is recorded)
n a perfectly competitive industry, the equilibrium price is $56 and the minimum average total cost of the industry's firms is $40. If this is a constant-cost industry, we can expect that in the long run, firms will _____ the market, shifting the industry's short-run supply curve _____.
Answer:
A perfectly competitive industry is an industry in which the number of buyers and sellers is very large, none large enough to influence the industry and are all engaged in buying and selling of a homogeneous product. In perfect competition, equilibrium is the point where market demands equals market supply. A firm's price is determined at this point. In the short run, equilibrium will be affected by demand. In the long run, both demand and supply of a product will affect the equilibrium in perfect competition.
In constant-cost industry, where the equilibrium price is $56 and the minimum average total cost of the industry's firms is $40, we can expect that in the long run, firms will enter the market, shifting the industry's short-run supply curve outward until the new equilibrium price is $40.
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 6,000 shares of Gem Co. stock at $24.00 per share. July 7 Purchased 3,000 shares of PepsiCo stock at $55.00 per share. 20 Purchased 1,500 shares of Xerox stock at $15.00 per share. Aug. 15 Received a(n) $0.95 per share cash dividend on the Gem Co. stock. 28 Sold 3,000 shares of Gem Co. stock at $30.75 per share. Oct. 1 Received a $1.60 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.10 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.00 per share cash dividend on the PepsiCo shares. Required: 1. Prepare journal entries to record the preceding transactions and events.
Explanation:
April 16: Dr Short-term investment (6000*24) 144000
Cr Cash 144000
(To record purchase of shares of Gem co)
July-7: Dr Short-term investment (3000*55) 165000
Cr Cash 165000
(To record purchase of shares of pepsico)
July-20. Dr Short-term investment (1500*15) 22500
Cr Cash 22500
(To record purchase of shares of Xerox)
Aug-15. Dr Cash (6000*.95) 5700
Cr Dividend income 5700
(To record cash dividend of Gemco)
Aug-28. Dr Cash (3000*30.75 ) 92250
Cr Short-term investment (3000*24) 72000
Cr Gain on sale of investment(3000 * 6.75 N#1) 20250
(To record sale of shares of Gemco ).
Oct-1. Dr Cash (1.60 *3000) 4800
Cr Dividend income 4800
(To record cash dividend of pesico)
Dec-15. Dr Cash ( 6000*1.60) 9600
Cr Dividend income 9600
(To record cash dividend or remaining shares of gemco)
Dec-31. Dr Cash (3000*1.00) 3000
Cr Dividend income 3000
(To record cash dividend )
[N#1: 24-30.75= 6.75 *3000 = 20250]
Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $23,000 and variable expenses of $10,070. Product X96N had sales of $36,000 and variable expenses of $17,660. The fixed expenses of the entire company were $45,980. The break-even point for the entire company is closest to:
Answer:
$865.75
Explanation:
The computation of break even point is given below:-
Total sales
= $23,000 + $36,000
= $59,000
Total variable cost
= $10,000 + $17,660
= $27,660
So, contribution margin = Total sales = Total variable cost
= $59,000 - $27,660
= $31,340
Profit volume ratio = (Contribution margin per unit) ÷ (Total sales) × 100
= $31,340 ÷ $59,000 × 100
= 53.11%
Since, the break even point = Fixed cost ÷ profit margin ratio
= $45,980 ÷ 53.11%
= $865.75
Voltar Company manufactures and sells a telephone answering machine. The company's contribution format income statement for the most recent year is given below:
Total Per unit Pct. of sales (Ratios)
Sales $1,200,000 $60 100%
Less: variable expenses 900,000 45 ?%
Contribution margin 300,000 15 ?%
Less: fixed expenses 240,000
Net operating income $60,000
(a) What is the Contribution Margin (CM) Ratio (or percent of sales)?
(b) Calculate break-even point both in total units and total sales dollars.
Answer:
A. Contribution Margin Ratio = 25%
B. Break even point (In dollars) = $960,000
Break even point (in units) = 16,000
Explanation:
The computation of Contribution Margin Ratio and break-even point both in total units and total sales dollars is given below:-
A. Contribution Margin Ratio = Contribution ÷ Sales × 100
= $300,000 ÷ 1200,000 × 100
= 25%
B. Break even point (In dollars) = Fixed cost ÷ Contribution margin ratio
= $240,000 ÷ 25%
= $960,000
Break even point (in units) = Break even point ÷ price per unit
= $960,000 ÷ $60
= 16,000 Units
Final answer:
The Contribution Margin (CM) Ratio for Voltar Company is 25%. The break-even point is 16,000 units or $960,000 in sales dollars, essential for understanding financial planning and strategy.
Explanation:
Answering the question provided by the student about Voltar Company's telephone answering machine, we first address part (a) which asks for the Contribution Margin (CM) Ratio. The CM ratio is calculated by dividing the contribution margin by total sales. In this case, the contribution margin is $300,000, and total sales are $1,200,000, making the CM ratio 25% (300,000 / 1,200,000).
For part (b), finding the break-even point involves calculating both the number of units and the total sales dollars needed to cover all expenses. The break-even point in units is found by dividing the total fixed expenses by the contribution margin per unit, which in this case would be $240,000 / $15 = 16,000 units. To find the break-even point in sales dollars, multiply the break-even units by the sale price per unit, resulting in 16,000 units * $60 = $960,000.
These calculations help businesses understand how many units they need to sell to cover their costs and start generating profit, a crucial aspect of financial planning and strategy. The CM ratio and break-even analysis are fundamental concepts in business operations.
Required information Kevan, Jerry, and Dave formed Albee LLC. Jerry and Dave each contributed $245,000 in cash. Kevan contributed the following assets: Basis Fair Market Value Kevan: Cash $ 15,000 $ 15,000 Land* 120,000 440,000 Totals $ 135,000 $ 455,000 *Nonrecourse debt secured by the land equals $210,000 Each member received a 33.33 percent capital and profits interest in the LLC. (Leave no answer blank. Enter zero if applicable. Do not round intermediate calculations.) e. Prepare a tax basis balance sheet for Albee LLC showing the tax capital accounts for the members. What is Kevan’s share of the LLC’s inside basis? (Enter any capital account with a debit balance as a negative amount.)
Answer: A: $0.None of the members recognize gain because their debt relief was not in excess of their bases in their LLC interest prior to any debt relief.
B: $55,000
C: $285,000
D: $625,000 Albee, LLC takes a $135,000 carryover basis in the assets Kevan contributes and a $490,000 basis in the total cash the other two members contributed.
Explanation: check attached file
Bright Eyes manufactures and sells two products. The first product is a disposable contact lens set that lasts about 3 months. The second product is a wetting solution. Customers of the first product use one bottle of solution each month. As a result, bottles of solution outsell lens sets by a 3:1 ratio. Lens sets sell for $36 per set, and have a contribution margin ratio of 50%. The solution sells for $6 per bottle, but only generates variable costs of $1. The company's total fixed costs are $9,900,000.
(a) What level of total sales is necessary to achieve break even?
(b) If a competitor began selling a wetting solution that forced Bright Eyes to reduce the price for its solution to $3 (to maintain market share and the 3:1 ratio of solution to lens), how many lens sets must be sold for the company to break even?
Answer:
A . Break even point = 19,800,000 units
B . Break even point on lens = $14,850,000
Explanation:
Given:
Ratio between wetting solution and lens = 3:1
Sales price of lens = $36
Contribution margin ratio = 50%
Sales price of wetting solution= $6
Variable cost on wetting solution = $1
Total Fixed cost = $9,900,000
A . Computation of Break even point:
Break even point = Total Fixed cost / Contribution margin ratio
Break even point = $9,900,000 / 50%
Break even point = 19,800,000 units
B . Computation of Break even point on lens:
Break even point on lens = 19,800,000 × lens ratio × $3
Break even point on lens = 19,800,000 × (1/4) × $3
Break even point on lens = 19,800,000 × 0.25 × $3
Break even point on lens = $14,850,000
Marketing scholars who believe the ________ believe three exposures to an advertisement are needed: one to make consumers aware of the product, a second to show consumers the relevance of the product, and a third to remind them of the product
Answer:
C) three-hit theory
Alan Fillmore’s lifelong dream is to own his own fishing boat to use in his retirement. Alan has recently come into an inheritance of $410,900. He estimates that the boat he wants will cost $334,300 when he retires in 6 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 4% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Answer:
$264202
Explanation:
We use the present value formula to calculate the money to be invested now in order to get 334300
PV = FV *1/(1+R)^n
334300*1/(1.04)^6
=$264202
The purchase of common stock gives the holder (a) rights to residual cash flows (b) access to monthly Board of Director’s meetings (c) rights to a contractually set coupon (d) access to the CEO to assist in decision-making (e) rights to a good job with benefits
Answer:
The answer is option A) The purchase of common stock gives the holder rights to residual cash flows
Explanation:
Common stocks have the advantage of offering a high earning potential. Compared to bonds or certificates of deposit, they provide a better opportunity to make a larger return on investment. These other investments are guaranteed, so you know the minimum and maximum amount that you stand to gain from them.
Common Stock gives the holder rights to residual cash flows and provides the highest rate of return in the long run; more than bonds and cash.
Answer:
The correct option is A,rights to residual cash flows
Explanation:
Residual cash flows in this sense refers to cash left after bondholders interests have paid as well as the preferred shareholders's dividends.
The equity shareholders are the ultimate bearers of risk in a company, hence they are seen as the real owners of corporations in that they queue behind other providers of finance for dividends payments.
Even sometimes, they are instead of receiving cash dividends availed script dividend or stock dividend where additional shares are issued to shareholders in lieu of cash dividend payments.
Ajax Corp's sales last year were $400,000, its operating costs were $362,500, and its interest charges were $12,500. What was the firm's times-interest-earned (TIE) ratio
Answer:
3 times
Explanation:
Times Interest earned is a financial ratio that shows how many times an entity's net income or earnings before interest and taxes can be used to settle the company's interest expense.
It is given as the ratio of earnings before interest and tax to interest expense.
Earnings before interest and taxes is the difference of sales and operating costs.
= $400,000 - $362,500
= $37,500
Hence, the firm's times-interest-earned (TIE) ratio
= $37,500/$12,500
= 3
Johnson and Gomez, Inc. is a small firm involved in the production and sale of electronic business products. The company is well known for its attention to quality and innovation.
During the past 15 months, a new product has been under development that allows users improved access to e-mail and video images. Johnson and Gomez code named the product the Wireless Wizard and has been quietly designing two models: Basic and Enhanced. Development costs have amounted to $183,000 and $264,000, respectively. The total market demand for each model is expected to be 41,000 units, and management anticipates being able to obtain the following market shares: Basic, 20 percent; Enhanced, 15 percent. Forecasted data follow.
Basic Enhanced
Projected Selling Price $350.00 $450.00
Per-unit productions costs:
Direct material 43.00 69.00
Direct labor 23.00 31.00
Variable overhead 37.00 49.00
Marketing and advertising (fixed but avoidable) 196,000 305,000
Sales commissions* 15% 10%
*Computed on the basis of sales dollars.
Since the start of development work on the Wireless Wizard, advances in technology have altered the market somewhat, and management now believes that the company can introduce only one of the two models. Consultants confirmed this fact not too long ago, with Johnson and Gomez paying $35,000 for an in-depth market study. Sales salaries (excluding commission) will be $88,000 no matter which product is sold. The marketing and advertising costs indicated for each product are incurred only if that product is sold. Other fixed overhead is expected to be the same, regardless of which product is introduced.
Compute the unit contribution margin for both models.
Answer:
$158 and $200
Explanation:
You hear from a friend that you should invest in bonds, and that Pepsi Co should be a solid (safe) investment because everyone drinks Pepsi. After looking up the information, you find the following. Calculate the current price you Pepsi Co bonds would cost today. Assume that the bond is based off of the highlighted portions as seen to the right, and that the YTM is 3.27%
Issue Date: 2/24/2016
Coupon rate: 2.850%
Maturity Date: 2/24/2026
Number of payments per yr: 2
insert the following information:
PV
I/Y
N
PMT
FV
Answer:
$964.42 approx.
Explanation:
Current value of a bond is the present value of it's future stream of coupon payments as well as it's redemption value upon maturity.
Here, coupon rate = 2.850/2 = 1.425% per period
N = no of periods = 10 years × 2 = 20 periods
Face Value = $1000 assumed
Yield to maturity (YTM) = 3.27/2 = 1.635%
Present Value or [tex]B_{0}[/tex] shall be calculated as:
[tex]B_{0} = \frac{C}{(1\ +\ YTM)^{1} } \ +\ \frac{C}{(1\ +\ YTM)^{2} } \ +........+\ \frac{C}{(1\ +\ YTM)^{20} } \ + \frac{RV}{(1\ +\ YTM)^{20} }[/tex]
[tex]B_{0} = \frac{14.25}{(1\ +\ .01635)^{1} } \ +\ \frac{14.25}{(1\ +\ .01635)^{2} } \ +........+\ \frac{14.25}{(1\ +\ .01635)^{20} } \ + \frac{1000}{(1\ +\ .01635)^{20} }[/tex]
[tex]B_{0}[/tex] = 16.94 × 14.25 + 722.99 = 241.4280 +722.99
[tex]B_{0}[/tex] = $ 964.418
Thus, current price of the bond is $964.42 approx.
Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store, the store should a. Decrease the prices on the goods sold in the store b. Increase the parking rates c. All of the above d. None of the above
Answer:
a. Decrease the prices on the goods sold in the store
Explanation:
When the parking rates are increased, customers will be discouraged from coming to Firm X's grocery store as they know they will have to pay an extra an amount of money just to shop at your grocery store. Therefore customers will not want to come to the grocery store, thereby reducing the traffic at the store.
On the other hand, decreasing the prices on the goods sold in the store will attract more customers as their purchasing power has been increased. This in turns increases the traffic at the store.
WesternBioLabs Inc. is in the process of laying off 10% of its shipping and receiving employees. At the same time, it is hiring new hourly staff for night shifts. Which of the following terms best describes this process?
a. Churning.
b. Restructuring.
c. In violation of the WARN Act.
d. Spinning off employees.
Answer:
A. Churning
Explanation:
Employee Churning is also known as employee turn-over which is an act of laying off employees while recruiting new ones. It is a measure always taken to conserve a company's limited resources. The turnover rate is given as the percentage of employees being laid off or leaving workers over a period of time. There are a lot of factors contributing to churning such as downsizing through attrition either due to recession or scarcity of company's resources.
Production-constrained decision. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Contribution margin of product. A. unanswered Interference with other production.B. unanswered Contribution margin per unit of limited resource.C. unanswered Selling price of supplier.D. unanswered Sales revenue at split-off point.
Answer:
D. unanswered Sales revenue at split-off point.
Explanation:
Product contribution margin is the economic term used to describe a situation where a product sold generates revenue large enough to pay for all its production and distribution costs and expenses and still generate a profit for the company. In other words, this term refers to the money that is left over from the revenue generated from the sale of the product, after all of your production expenses have been paid. Sales revenue not being answered at the point of separation.
Answer:
nope
Explanation:
nope
To prepare for success, an aspiring entrepreneur should find a(n) _____ who is leading the type of life that the entrepreneur envisions for the future and who can be a guide and sounding board as well as champion and gateway to people the entrepreneur would otherwise not have been able to meet.
Answer:
Mentor
Explanation:
Mentor is an individual that is perceived as being more experienced and successful in a particular field, the less experienced person learns from the mentor with an aim of becoming like the mentor.
It is important for an aspiring entrepreneur to get a mentor who will advise on best actions to take in building a successful business, and also pitfalls to avoid.
It is possible to have more than one mentor, for example mentor in business, in personal development, in academics, and so on.
Purchases Transactions Nieman Company purchased merchandise on account from a supplier for $9,600, terms 1/10, n/30. Nieman Company returned $1,500 of the merchandise and received full credit. a. If Nieman Company pays the invoice within the discount period, what is the amount of cash required for the payment
Answer:
trump 2020
Explanation:
In March 2007March 2007, the U.S. unemployment rate was 4.44.4 percent. In August 2008 August 2008, the unemployment rate was 6.16.1 percent. Predict what happened to unemployment between March 2007March 2007 and August 2008 August 2008, if the labor force was constan
Answer:
A Recession happened.
Explanation:
When the market sees a recession we see an increase in the unemployment rate due to cyclical unemployment whenever there in a business cycle even though the labor force was constant but in a recession companies face a lot of costs which become higher than their revenue so for example when there is a recession the cost of producing 1 more unit is actually higher than the revenue a firm gets from producing that 1 unit because marginal cost increases at a decreasing rate so they have to lay off people at a firm on that unit of production to maximize revenues.
Eleven years ago, you deposited $3,200 into an account. Seven years ago, you added an additional $1,000 to this account. You earned 9.2 percent, compounded annually, for the first 4 years and 5.5 percent, compounded annually, for the last 7 years. How much money do you have in your account today
Answer:
The money which the person have in account today amounts to $8,073.91
Explanation:
The amount of money which the person have in account today is computed as:
Future Value = {Present Value × (1+ Percent) ^ Number of years }+ {Present Value × (1+ Percent) ^ Number of years}
where
Present value is $3,200
Percent is 9.2%
Number of years is 4 years
Present value is $1,000
Percent is 5.5%
Number of years is 7 years
Putting the values above:
Future value = {$3,200 × (1+ 0.092) ^ 4 }+ {$1,000 × (1+ 0.055) ^ 7}
Future value = $8,073.91
Does the firm need to alter its choices of C and L to decrease cost? A. Yes, they need to increase Upper Lincrease L which would cause MP Subscript Upper LMPL to decreasedecrease and MP Subscript Upper CMPC to increaseincrease. B. Yes, they need to increase Upper Cincrease C which would cause MP Subscript Upper LMPL to increaseincrease and MP Subscript Upper CMPC to decreasedecrease. C. Yes, they need to increase Upper Lincrease L which would cause MP Subscript Upper LMPL to increaseincrease and MP Subscript Upper CMPC to decreasedecrease. D. Yes, they need to increase Upper Cincrease C which would cause MP Subscript Upper LMPL to decreasedecrease and MP Subscript Upper CMPC to increaseincrease. E. No, they are producing at the cost minimizing levels of C and L.
Answer:
Yes, they need to increase Upper L which would cause MP Subscript Upper L to decrease and MP Subscript Upper C to increase.
Explanation:
In the specific problem outlined above, the company wants to maximize its revenue and ensure that the production cost is as low as possible for the given quantity of land, cement and the available labor. In order to ensure that this is possible, the company must try to increase the upper L so that there would be an increase in MP (subscript upper C) and a decrease in MP (subscript upper L).
In Sheridan Company, the Cutting Department had beginning work in process of 9000 units, transferred out 24600 units, and had an ending work in process of 3500 units. How many units were started by Sheridan during the month?
Answer:
The 21,100 units were started through company during the month
Explanation:
The number of units were started through company during the month is computed as:
Number of units were started = Transferred out units - Ending work in progress units
where
Transferred out units is 24,600
Ending work in progress units is 3,500
Putting the values above:
Number of units were started = 24,600 - 3,500
= 21,100
Therefore, 21,1600 units were started through company during the month.
Note: The beginning work in progress will be considered as number of units in started is computing.
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 9.0 hours Standard variable overhead rate $ 15.40 per hour The following data pertain to operations for the last month: Actual hours 2,975 hours Actual total variable manufacturing overhead cost $ 46,595 Actual output 250 units What is the variable overhead efficiency variance for the month
Answer:
$11.165 unfavorable
Explanation:
The formula to compute the variable overhead efficiency variance is shown below:
= (Actual direct labor hours - standard direct labor hours) × variable overhead per hour
where,
Actual direct labor hours is 2,975
And, the standard direct labor hours equal to
= 250 units × 9
= 2,250
Now put these values to the above formula
So, the value would equal to
= (2,975 - 2,250) × $15.40
= $11.165 unfavorable
Detailing's cost formula for its materials and supplies is $2,060 per month plus $12 per vehicle. For the month of August, the company planned for activity of 86 vehicles, but the actual level of activity was 46 vehicles. The actual materials and supplies for the month was $2,350. The materials and supplies in the planning budget for August would be closest to:
Answer:
Planning budget amount = $3,052.00
Explanation:
The planning budget is als0 known as the fixed budget . It is the budget prepared for the original level of activity intended or planned for. As it's name implies, it is used for planning purpose.
For the month of August, the planning budget
= $2060 + ($12 × 86)
= $3,052.00
Planning budget amount = $3,052.00
Answer:
$3092
Explanation:
The planning budget is the original budget set aside for the production of a planned quantity of goods and services in a company it can also be refered to as the fixed budget of a company
detailed cost formula for materials and supplies = $2060
planned quantity of goods = 86
extra cost per vehicle = $12
Total extra cost for 86 vehicles = 86 * $12 = $1032
hence the materials and supplies in the planning budget would be
= total extra cost + Detailed cost formula for materials and supplies
= $1032 + $2060
= $3092
4-21 (Algo) Reporting an Income Statement, Statement of Stockholders' Equity, and Balance Sheet LO4-2 Green Valley Company prepared the following trial balance at the end of its first year of operations ending December 31. To simplify the case, the amounts given are in thousands of dollars. UNADJUSTED Account Titles Debit Credit Cash 18 Accounts receivable 15 Prepaid insurance 10 Machinery 77 Accumulated depreciation Accounts payable 11 Wages payable Income taxes payable Common stock (8,000 shares) 8 Additional paid-in capital 57 Retained earnings 9 Revenues (not detailed) 78 Expenses (not detailed) 25 Totals 154 154 Other data not yet recorded at December 31 include
Answer:
Income statement
revenue 78000
expenses (25000 )
insurance (7000 )
depreciation (9000 )
EBIT 37000
TAX (11000)
net income 26000
EPS 3.25
STATEMENT OF STOCKHOLDER'S EQUITY
Common stock retained earnings additional paid in capital
opening 8000 9000 57000
net income 26000
closing 8000 35000 57000
BALANCE SHEET
assets
non current assets 154000
machinery 77000
accum depreciation (20000)
carrying value 57000
current assets 36000
prepaid insurance 3000
cash 18000
accounts receivables 15000
total assets 190000
Equity and liabilities
stockholdr's equity 100000
common stock 8000
Retaine earnings 35000
paid in capital 57000
Liabilities 90000
current liabilities 90000
Accounts payable 11000
wagages payable 4000
income tax payable 75000 balancing figure
Explanation:
missing information;
Other data not yet recorded at December 31 include:
Insurance expired during the current year, $7.
Wages payable, $4.
Depreciation expense for the current year, $9.
Income tax expense, $11.
Required:
1. Using the adjusted balances, prepare an income statement for the current year. (Round "Earnings per share" to 2 decimal places. Enter your answers in thousands.)
2. Using the adjusted balances, prepare statement of stockholders’ equity for the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)
3. Using the adjusted balances, prepare balance sheet for the current year. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands.)
Harman International Industries is a world-leading producer of loudspeakers and other electronics products, which are sold under brand names like JBL, Infinity, and Harman/Kardon. The company reported the following amounts in its financial statements (in millions): 2016 2015 Net Sales $ 6,910 $ 6,155 Cost of Goods Sold 4,820 4,340 Beginning Inventory 695 665 Ending Inventory 705 695 Required: Determine the inventory turnover ratio and average days to sell inventory for 2016 and 2015. (Use 365 days in a year. Round your intermediate and final answers to 1 decimal place.)
Answer:
Inventory Turnover Ratio
2016 --- 6.9
2015 --- 6.4
Average Days To Sell Inventory
2016 --- 53
2015 --- 57.2
Explanation:
The formula to calculate Inventory Turnover Ratio is as follows:
Cost of Goods Sold / Average Inventory
where Average Inventory = (Opening Stock + Closing Stock) / 2
Whereas, 365 is divided by Inventory Turnover Ratio to get the number of days it takes to sell inventory.
I've attached a screenshot of my workings, it will be helpful. Thanks!
You learn that the Volonian government has canceled the trade licenses of several firms in the e-learning market in the past due to censorship issues.
In this situation, what measures are most likely to help Gerlach Publishing acquire a trade license?
Answer:
The measures is to get the Government in developing and shaping of contents of the e-learning software.
Explanation:
By getting the Government agent(s) or authority in the development and shaping of contents of the software, you are not only creating harmony with the local government but also ensuring that the agent helps scrutinizing the content of the software and also ensuring that the software does not contain any content that is objectionable to the government and this measure will definitely help Gerlach Publishing acquire a trade license.
To acquire a trade license in Volonia, Gerlach Publishing should adhere to local regulations, ensure their content respects societal norms, engage local legal consultants, and maintain open communication with authorities.
Explanation:In light of the Volonian government's previous cancellation of trade licenses in the e-learning market due to censorship issues, the approach Gerlach Publishing should take needs to focus on compliance and transparency. This includes strict adherence to local regulation laws and ensuring non-violation of any censorship rules.
Depicting strong commitment towards promoting free and respectful dialogue in their e-learning materials could be beneficial. This can be achieved by implementing robust internal review processes to ensure all content is suitable and respects the norms and values of Volonian society.
Engaging local legal consultants to understand the nuances of Volonian law can also aid in the process. Lastly, establishing and maintaining open communication with the authorities demonstrating their dedication to lawful practices could be advantageous.
Learn more about Trade License here:https://brainly.com/question/31191155
#SPJ11
Yittercorp regularly trades in securities on a national exchange. The company is a widely-held corporation with 600 shareholders and $15 million in assets. Which of the following is true concerning the company’s requirement to report to the SEC?
a)Must file annual and quarterly financial reports
b)Requirement to file depends on the company’s assets and shareholder base.
c)Not required to report information to the SEC.
d)Required to report major business developments and must file annual and quarterly financial reports.
Answer:
The Correct answer is D "Required to report major business developments and must file annual and quarterly financial reports"
Explanation:
SEC expects organizations to fill the Form 10-K for yearly reports while Form 10-Q for their quarterly reports, and report the business advancement, for example, budgetary exchange, mergers, procurement and so forth to them consistently
Answer:
Required to report major business developments and must file annual and quarterly financial reports ( D )
Explanation:
Large companies who regularly trades in securities on a national exchange is required by law under the security and exchange commission to report major business developments and must file annual and quarterly financial reports using form 10-K and form 10-Q made available by the security and exchange commission
The U.S security and exchange commission is an independent government agency charged with the responsibility of regulating financial markets by maintaining fair and efficient market and also protecting investors