Questions
How do traders treat swap income and expenses and how do investors treat swap income and...

How do traders treat swap income and expenses and how do investors treat swap income and expense. There is a major difference, what is it?

In: Accounting

Direct, sequential, and reciprocal allocation Ming Company has two service departments (S1 and S2) and two...

Direct, sequential, and reciprocal allocation
Ming Company has two service departments (S1 and S2) and two production departments (P1 and P2). Last year, directly identified overhead costs were $255,000 for S1 and $320,000 for S2.
Information on the consumption of their services follows:

Supplying User Departments
Departments S1 S2 P1 P2
S1 500 1,200 6,000 1,300
S2 800 200 7,000 9,000

(a) Determine the service department costs allocated to the two production departments using the direct method.
Note: Round each rate to two decimal places before calculating the allocated amounts. Round answers to the nearest dollar.

Rate Total
(rounded to 2 decimals) Total P1 Total P2 (any diff due to rounding)
S1 allocation amount Answer Answer Answer
S1 allocation amount Answer Answer Answer
Total service department costs Answer Answer Answer

(b) Determine the service department costs allocated to the two production departments using the sequential method beginning with the allocation of S1 department costs.
Note: Round each rate to two decimal places before calculating the allocated amounts. Round answers to the nearest dollar.

Total allocated service
department costs
P1 Answer
P2 Answer
Total (any diff due to rounding) Answer

(c) Determine the service department costs allocated to the two production departments using the reciprocal method.

Note: Do not round your computations; however, round your final answers to the nearest dollar.

Total allocated service
department costs
P1 Answer
P2 Answer
Answer

In: Accounting

I do have an accounting project and one of the requirements is to ( Write a...

I do have an accounting project and one of the requirements is to ( Write a brief of how the team carried out the plan also to comment on how you would improve your process for completing the project) we all did a good job on the project but I'm bad at writing a brief summary on it.

i need help!

In: Accounting

1-Love deep invested $300,000 cash to begin her environmental consulting business 2- his Environmental Consulting paid...

1-Love deep invested $300,000 cash to begin her environmental consulting business

2- his Environmental Consulting paid $50 ,000 cash for land as a future office lactation .

3- The business purchased office supplies for $20,000 on account,

4-The business provided environmental consulting services for clients and received $50,000 cash.

5-The business provided environmental consulting services of $30 ,000 to clients who will pay for the services within one month.

6-The business paid the following expenses: office rent, $5,000; employee salaries, $5,000; and utilities, $5,000

7-The business paid $10,000 on the account payable created in Transaction 3.

8- Loveddep remodelled her personal residence with personal funds. This is not a business transaction of the environmental consulting business, so no journal entry is made

9-The business received $20,000 cash from one of the clients discussed in Transaction 5.

10- Lovedeep withdrew $10,000 cash for personal living expenses

In: Accounting

Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined...

Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined by his division’s return on investment (ROI), which has been above 20% each of the last three years. Derrick is considering a capital budgeting project that would require a $3,800,000 investment in equipment with a useful life of five years and no salvage value. Holston Company’s discount rate is 16%. The project would provide net operating income each year for five years as follows:

Sales $ 3,200,000
Variable expenses 1,350,000
Contribution margin 1,850,000
Fixed expenses:
Advertising, salaries, and other fixed
out-of-pocket costs
$ 670,000
Depreciation 760,000
Total fixed expenses 1,430,000
Net operating income $ 420,000

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables.

Required:

1. Compute the project's net present value.

2. Compute the project's simple rate of return.

3a. Would the company want Derrick to pursue this investment opportunity?

3b. Would Derrick be inclined to pursue this investment opportunity?

In: Accounting

Inventory information for Part 311 of Splish Corp. discloses the following information for the month of...

Inventory information for Part 311 of Splish Corp. discloses the following information for the month of June.

June 1 Balance 304 units @ $11 June 10 Sold 201 units @ $25
11 Purchased 796 units @ $13 15 Sold 499 units @ $26
20 Purchased 501 units @ $14 27 Sold 296 units @ $28

(a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO.

(b) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory for LIFO?

(c) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit id the inventory is valued at FIFO?

In: Accounting

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility...

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.50 Electricity $ 1,300 $ 0.05 Maintenance $ 0.10 Wages and salaries $ 4,400 $ 0.20 Depreciation $ 8,000 Rent $ 2,000 Administrative expenses $ 1,500 $ 0.05 For example, electricity costs are $1,300 per month plus $0.05 per car washed. The company expects to wash 8,100 cars in August and to collect an average of $6.30 per car washed. The actual operating results for August appear below.

Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,200 Revenue $ 53,130 Expenses: Cleaning supplies 4,550 Electricity 1,675 Maintenance 1,050 Wages and salaries 6,380 Depreciation 8,000 Rent 2,200 Administrative expenses 1,805 Total expense 25,660 Net operating income $ 27,470 Required: Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

In: Accounting

I need the briefly outline for the topic:''There is no such thing as business ethics. There...

I need the briefly outline for the topic:''There is no such thing as business ethics. There is only one kind to adhere to the highest standards''. (Marvin Bower).What do you think about this statement? Give your opinions in an academic way."

Must have the thesis statement in introduction

Please break down and give bullet for each main point as I wanna know what should i need to have and do in this academic essay

In: Accounting

An airline is considering purchasing a new Boeing aircraft that is quoted at $35 million per...

An airline is considering purchasing a new Boeing aircraft that is quoted at
$35 million per unit. Boeing requires a 10% down payment paid at the time of delivery,
and the balance is to be paid over a 10-year period at an interest rate of 9% compounded
annually (see the hints below for better explanation). The actual payment schedule calls
for making only interest payments over the 10-year period, with the original principal
amount to be paid off at the end of the 10th year. The expected annual revenue is $40
million, while the annual operating and maintenance cost is $30 million. The aircraft is
expected to have a 15-year service life with a salvage value of 15% of the original
purchase price, and will be depreciated by the seven-year MACRS property
classification. The firm’s combined federal and state marginal tax rate is 38%. The
MARR is 18%.


(a.) Determine the cash flow of the entire project associated with the debt
financing. Use excel spreadsheet and present your calculation using the cash
flow table

- Assume all values are in today’s money (do not inflate).
- 10% down payment is paid at year 0 (10% of the $35M)
- 9% of the unpaid principal ($35M - $3.5M down payment) is paid every year
to Boeing from year 1 to year 10.
- Unpaid principal ($35M - $3.5M down payment) is paid as lump sum at year
10.

In: Accounting

Question 1 A legal document which summarizes the rights and privileges of bondholders as well as...

Question 1
A legal document which summarizes the rights and privileges of bondholders as well as the obligations and commitments of the issuing company is called

A.a term bond.
B.a bond debenture.
C.trading on the equity.
D.a bond indenture.

Question 2
Bonds that are secured by real estate are termed

A.mortgage bonds.
B.serial bonds.
C.debentures.
D.bearer bonds.

Question 3
Bonds issued against the general credit of the borrower are called

A.callable bonds.
B.mortgage bonds.
C.debenture bonds.
D.sinking fund bonds.

Question 4
Bonds that may be exchanged for common stock at the option of the bondholders are called

A.convertible bonds.
B.callable bonds.
C.stock bonds.
D.options.

Question 5
Bonds that are subject to retirement at a stated dollar amount prior to maturity at the option of the issuer are called

A.early retirement bonds.
B.debentures.
C.callable bonds.
D.options.

Question 6
Bonds that have specific assets of the issuer pledged as collateral are

A.debenture bonds.
B.secured bonds.
C.callable bonds.
D.convertible bonds.

Question 7
The interest rate investors demand for loaning funds is the

A.market interest rate.
B.bond interest rate.
C.stated rate.
D.contractual interest rate.

Question 8
A corporation recognizes a gain or loss

A.only when bonds are converted into common stock.
B.only when bonds are redeemed before maturity.
C.when bonds are redeemed at or before maturity.
D.when bonds are converted into common stock and when they are redeemed before maturity.

  
Question 9
If there is a loss on bonds redeemed early, the

A.loss is debited to Interest Expense, as a cost of financing.
B.loss is debited directly to Retained Earnings.
C.bonds’ carrying value was less than the redemption price.
D.bonds’ carrying value was greater than the redemption price.

Question 10
A $495000 bond was retired at 98 when the carrying value of the bond was $490000. The entry to record the retirement would include a

A.loss on bond redemption of $5000.
B.gain on bond redemption of $5000.
C.loss on bond redemption of $4900.
D.gain on bond redemption of $4900.

Question 11
A $2100 face value bond with a quoted price of 98 is selling for

A.$98.
B.$2002.
C.$2100.
D.$2058.

Question 12
A bond with a face value of $520000 and a quoted price of 102.125 has a selling price of


A.$520585.
B.$531050.
C.$530465.
D.$624585.

In: Accounting

Please answer the following Question in detail of the following question in 350 Word count in...

Please answer the following Question in detail of the following question in 350 Word count in your own words. Please cite your reference from internet search. please answer each question individually. Perform an internet search for a current health care organization of your choice (preferably publicly traded for-profit organizations because these organizations must report all financial data and make it available to the public). In your search, select and evaluate the report of the financial information from the past 4 quarters or more. Complete the following for this assignment:

• Search the Internet for assistance in completing applicable financial calculations for this assignment.

• Using the statements that you located, provide a financial plan that will do the following:

o Create projected financial statements to analyze effects of alternate operating assumptions on the firm’s financial condition

o Determine the projected financial requirements that will be needed to support each of the 3 sets of alternate operating instructions

o Forecast the financial sources that might be needed to support your alternative assumptions

o Assess the projected results using a financial condition analysis to the forecasted data

In: Accounting

The following partially completed process cost summary describes the July production activities of Ashad Company. Its...

The following partially completed process cost summary describes the July production activities of Ashad Company. Its production output is sent to its warehouse for shipping. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Equivalent Units of Production Direct Materials Conversion
Units transferred out 35,500 EUP 35,500 EUP
Units of ending work in process 3,000 EUP 1,800 EUP
Equivalent units of production 38,500 EUP 37,300 EUP

Costs per EUP Direct Materials Conversion
Costs of beginning work in process $ 24,150 $ 2,900
Costs incurred this period 403,200 213,440
Total costs $ 427,350 $ 216,340

Units in beginning work in process (all completed during July) 2,500
Units started this period 36,000
Units completed and transferred out 35,500
Units in ending work in process 3,000

Prepare its process cost summary using the weighted-average method.

In: Accounting

C-1 Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The...

C-1

Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities.

2017

Jan. 20 Purchased 800 shares of Ford Motor Co. at $27 per share plus a $125 commission.
Feb. 9 Purchased 2,500 shares of Lucent at $35 per share plus a $190 commission.
Oct. 12 Purchased 760 shares of Z-Seven at $8.10 per share plus a $95 commission.
Dec. 31 Fair value of the short-term investments in trading securities is $121,500.



2018

Apr. 15 Sold 800 shares of Ford Motor Co. at $30 per share less a $295 commission.
July 5 Sold 760 shares of Z-Seven at $10.50 per share less a $95 commission.
July 22 Purchased 1,700 shares of Hunt Corp. at $38 per share plus a $225 commission.
Aug. 19 Purchased 2,000 shares of Donna Karan at $47.50 per share plus a $105 commission.
Dec. 31 Fair value of the short-term investments in trading securities is $241,240.



2019

Feb. 27 Purchased 3,900 shares of HCA at $31 per share plus a $400 commission.
Mar. 3 Sold 1,700 shares of Hunt at $33 per share less a $120 commission.
June 21 Sold 2,500 shares of Lucent at $32.75 per share less a $32 commission.
June 30 Purchased 1,300 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov. 1 Sold 2,000 shares of Donna Karan at $47.50 per share less a $124 commission.
Dec. 31 Fair value of the short-term investments in trading securities is $189,100.


Required:
Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.)

2017

2018

2019

Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities.

In: Accounting

Antonio’s Car Services provides maintenance services for motorized vehicles. In March 2018, Rick placed an order...

Antonio’s Car Services provides maintenance services for motorized vehicles. In March 2018, Rick placed an order for a new set of tires for $350. When a customer purchases goods or services in excess of $300, Antonio’s gives the customer a 25% discount coupon for future purchases made in the next three months. Antonio’s estimates that approximately 80% of customers utilize the coupon and that on average those customers will purchase goods or services that typically sell for $75.

Required:
(a) How many performance obligations are in Rick’s contract?
(b) Prepare a journal entry to record revenue for this transaction, assuming that Antonio’s uses the residual method to estimate the stand-alone selling price of new tires sold without the discount coupon.

In: Accounting

Mary Jarvis is a single individual who is working on filing her tax return for the...

Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant information:

  • She received $88,000 in salary.
  • She received $20,000 of dividend income.
  • She received $6,300 of interest income on Home Depot bonds.
  • She received $24,500 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $6,100.
  • She received $14,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,800.
  • Mary receives one exemption ($4,000), and she has allowable itemized deductions of $7,500. These amounts will be deducted from her gross income to determine her taxable income.
Personal taxes
Salary $88,000.00 Tax Table for Single Individuals:
Dividend Income $20,000.00 Taxable Income Amount Paid on Base Percentage on Excess over Base
Interest Income $6,300.00 $0.00 $0.00 10.00%
LT Stock Sale $24,500.00 $9,225.00 $922.50 15.00%
LT Stock Cost $6,100.00 $37,450.00 $5,156.25 25.00%
ST Stock Sale $14,000.00 $90,750.00 $18,481.25 28.00%
ST Stock Cost $7,800.00 $189,750.00 $46,075.25 33.00%
Personal Exemption $4,000.00 $411,500.00 $119,401.25 35.00%
Itemized Deductions $7,500.00 $413,200.00 $119,996.25 39.60%
Apllicable Tax Rate on Dividends & LT Capital Gains 15.00%
  1. What is Mary's federal tax liability? Round your answer to the nearest cent. Do not round intermediate calculations.

    $

  2. What is her marginal tax rate? Round your answer to 1 decimal place.

    %

  3. What is her average tax rate? Round your answer to 2 decimal places.

    %

In: Accounting