On October 15, 2020, the board of directors of Ensor Materials
Corporation approved a stock option plan for key executives. On
January 1, 2021, 21 million stock options were granted, exercisable
for 21 million shares of Ensor's $1 par common stock. The options
are exercisable between January 1, 2024, and December 31, 2026, at
90% of the quoted market price on January 1, 2021, which was $10.
The fair value of the 21 million options, estimated by an
appropriate option pricing model, is $4 per option. Ensor chooses
the option to recognize forfeitures only when they occur.
Ten percent (2.1 million) of the options were forfeited when an
executive resigned in 2022. All other options were exercised on
July 12, 2025, when the stock’s price jumped unexpectedly to $20
per share.
Required:
1. When is Ensor’s stock option measurement
date?
2. Determine the compensation expense for the
stock option plan in 2021. (Ignore taxes.)
3. Prepare the journal entries to reflect the
effect of forfeiture of the stock options on Ensor’s financial
statements for 2022 and 2023.
5. Prepare the journal entry to account for the
exercise of the options in 2025.
In: Accounting
Each person in a representative sample of 446 college students age 18 to 24 was classified according to age and to the response to the following question: "How often have you used a credit card to buy items knowing you wouldn't have money to pay the bill when it arrived?" Possible responses were never, rarely, sometimes, or frequently. The responses are summarized in the table.
| Age 18 to 20 | Age 21 to 22 | Age 23 to 24 | |
|---|---|---|---|
| Never | 73 | 62 | 29 |
| Rarely | 35 | 34 | 32 |
| Sometimes | 31 | 42 | 40 |
| Frequently | 12 | 24 | 32 |
Do these data provide evidence that there is an association between age group and the response to the question? Test the relevant hypotheses using α = 0.01.
State the appropriate null and alternative hypotheses.
H0: There is no association between age
group and the response to the question.
Ha: There is an association between
age group and the response to the question.
H0: The proportions falling into each of the
three age groups are the same for all four responses to the
question.
Ha: The proportions falling into each
of the three age groups are not the same for all four responses to
the question.
H0: There is an association between age
group and the response to the question.
Ha: There is no association between
age group and the response to the question.
H0: The proportions falling into each of the
three age groups are not the same for all four responses to the
question.
Ha: The proportions falling into each
of the three age groups are the same for all four responses to the
question.
Find the test statistic and P-value. (Use technology. Round your test statistic to three decimal places and your P-value to four decimal places.)
X2=
P-value=
State the conclusion in the problem context.
Reject H0. There is convincing evidence that there is an association between age group and the response to the question.
Reject H0. There is not convincing evidence that there is an association between age group and the response to the question.
Fail to reject H0. There is not convincing evidence that there is an association between age group and the response to the question.
Fail to reject H0. There is convincing evidence that there is an association between age group and the response to the question.
In: Statistics and Probability
A physician orders FRAGMIN 7,500 units subcutaneously stat and daily. Available in stock are 9-mL vials of FRAGMIN (DALTEPARIN) 10,000 international units/mL. How many mL should be administered per dose?
a. 3.8
b. 0.75
c. 0.38
d. 7.5
In: Math
Problem 1-27
Special Rules for High-Income Taxpayers (LO 1.9)
Rachel is single and has wages of $150,000 and dividend income
of $90,000. She has no investment expenses. Calculate the amount of
the 3.8 percent net investment income tax she must pay.
$
In: Accounting
Answer the following question
1)identify three types of inventory that are contained on a manufacturers balance sheet
2) Explain how cost of goods sold flows from the finished goods inventory account to the income statement
3) Which business trend to you think is affecting managerial accounting the most in today’s business’s and why?
4) Pick an activity in the value chain and describe how it can add value to a product (you may pick a product to use as part of your example).
In: Accounting
16 MARKS
"Taxes are a necessary evil to raise revenue for the government, towards funding expenditure on 'public goods and services'. We should aim to do this in the most effective and efficient way - with the lowest marginal tax rates, and lowest distortions possible. This could be achieved by eliminating all forms of taxes on income and replacing them with a uniform tax on expenditure on goods and services instead."
Provide a critical assessment of this statement based on concepts presented in this course and any wider reading you have done.
In: Economics
Eppich Corporation has provided the following data for the most recent month:
| Raw materials, beginning balance | $ | 25,000 | |||||
| Work in process, beginning balance | $ | 34,600 | |||||
| Finished Goods, beginning balance | $ | 52,600 | |||||
Transactions:
| (1) | Raw materials purchases | $ | 78,200 |
| (2) | Raw materials used in production (all direct materials) | $ | 78,800 |
| (3) | Direct labor | $ | 54,600 |
| (4) | Manufacturing overhead costs incurred | $ | 97,000 |
| (5) | Manufacturing overhead applied | $ | 74,600 |
| (6) | Cost of units completed and transferred from Work in Process to Finished Goods |
$ | 190,000 |
| (7) | Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold |
? | |
| (8) | Finished goods are sold | $ | 224,400 |
Required:
Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.
In: Accounting
Eppich Corporation has provided the following data for the most recent month:
| Raw materials, beginning balance | $ | 19,000 | |||||
| Work in process, beginning balance | $ | 32,200 | |||||
| Finished Goods, beginning balance | $ | 50,200 | |||||
Transactions:
| (1) | Raw materials purchases | $ | 79,400 |
| (2) | Raw materials used in production (all direct materials) | $ | 77,600 |
| (3) | Direct labor | $ | 52,200 |
| (4) | Manufacturing overhead costs incurred | $ | 91,000 |
| (5) | Manufacturing overhead applied | $ | 72,200 |
| (6) | Cost of units completed and transferred from Work in Process to Finished Goods |
$ | 190,000 |
| (7) | Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold |
? | |
| (8) | Finished goods are sold | $ | 220,800 |
Required:
Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.
In: Accounting
Eppich Corporation has provided the following data for the most recent month:
| Raw materials, beginning balance | $ | 16,500 | |||||
| Work in process, beginning balance | $ | 31,200 | |||||
| Finished Goods, beginning balance | $ | 49,200 | |||||
Transactions:
| (1) | Raw materials purchases | $ | 79,900 |
| (2) | Raw materials used in production (all direct materials) | $ | 77,100 |
| (3) | Direct labor | $ | 51,200 |
| (4) | Manufacturing overhead costs incurred | $ | 88,500 |
| (5) | Manufacturing overhead applied | $ | 71,200 |
| (6) | Cost of units completed and transferred from Work in Process to Finished Goods |
$ | 190,000 |
| (7) | Any overapplied or underapplied manufacturing overhead is closed to Cost of Goods Sold |
? | |
| (8) | Finished goods are sold | $ | 219,300 |
Required:
Complete the following T-accounts by recording the beginning balances and each of the transactions listed above.
In: Accounting
PLEASE SHOW ME THE CALCULATION
SheldonSheldon
Company's inventory records for the most recent year contain the following data:
LOADING...
(Click the icon to view the data
THE DATA IS POSTED BELOW
SheldonSheldon
Company sold a total of
21 comma 10021,100
units during the year.Read the requirements
LOADING...
.
Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearestcent.)
|
Using the average-cost method, the cost of goods sold is |
$ |
and the ending inventory is |
$ |
. |
Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year.
|
Using the FIFO method, the cost of goods sold is |
$ |
and the ending inventory is |
$ |
. |
Quantity Unit Cost
Beginning inventory- 9,000 $18.00
Purchases during year - 16,000 $20.00
In: Accounting