Questions
Based on these data, calculate Patton Corporation’s working capital for Year 2.
Patton Corporation had the following items on its financial statements for two recent years: Year 2 Year 1 Sales $2,500,000 $2,000,000 Cost of goods sold 1,975,000 1,600,000 Cash 500,000 475,000 Temporary investments 150,000 150,000 Accounts receivable (net) 200,000 175,000 Inventory 325,000 300,000 Accounts payable 450,000 400,000
Based on these data, calculate Patton Corporation’s working capital for Year 2.
A) $725,000
b) $1,625,000
c) $2,050,000
d) None of these choices are correct.
In: Accounting
At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $600...
At the end of the year, Mercy Cosmetics' balance of Allowance for Uncollectible Accounts is $600 (debit, before adjustment. The balance of Accounts Receivable is $25,000. The company estimates that 12% of accounts will not be collected over the next year.
What is the adjustment Mercy Cosmetics would record for Allowance for Uncollectible Accounts? (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
In: Accounting
Winston Company estimates that the factory overhead for the following year will be $1,250,000. The company...
Winston Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 50,000 hours. The total machine hours for the year were 54,300 hours. The actual factory overhead for the year was $1,375,000.
a. Determine the total factory overhead amount applied.
b. Compute the over- or underapplied amount for the year.
c. Journalize the entry to transfer the over- or underapplied factory overhead to cost of goods sold. If an amount box does not require an entry, leave it blank.
In: Accounting
Roman is a 63 year old male with a history of alcoholism. He presents with a...
Roman is a 63 year old male with a history of alcoholism. He presents with a erythematous, shiny, raised, hardened but tender plaque on his left cheek and nose. The plaque has a distinct border. Romansays that he woke up two days ago feeling “a little off” and experienced chills throughout the day. The facial rash progressively worsened yesterday. His temperature is elevated (39°C or 102.2°F). A sample is collected from one of the lesions, however, no obviously pathogenic organisms grow in culture. Bloodwork reveals leukocytosis and an elevated erythrocyte sedimentation rate. Roman is allergic to penicillin and sulfonamides- he gets hives when taking either.
Which organism is infecting this patient? Explain your reasoning.
What is this disease called?
How would you treat it?
What is the prognosis of this disease?
In: Nursing
A 20-year bond with a face value of P5,000 is offered for sale at P3,800. The...
A 20-year bond with a face value of P5,000 is offered for sale
at P3,800. The rate of
interest on the bond is 7%, paid semiannually. This bond is now 10
years old (the owner
has received 20 semiannual interest payments). If the bond is
purchased for P3, 800,
what effective rate of interest would be realized on this
investment opportunity?
In: Finance
At the end of each year for ten years you deposit $750 in an account that...
At the end of each year for ten years you deposit $750 in an account that earns an annual rate of return of 12%. What is the present value of these deposits?
In: Finance
XYZ corp is expected to pay dividends of $2.00 at the end of every year for...
XYZ corp is expected to pay dividends of $2.00 at the end of every year for the next 3 years. If the current price of XYZ corp is $20, and XYZ’s equity cost of capital is 25%, what price would you expect XYZ’s stock to sell for at the end of three years (immediately after the third dividend is paid)?
A- $39.06
B- $31.44
C- $16.10
D- $20.00
In: Finance
Suppose that you invest $5,000 in a mutual fund at the end ofeach year for...
Suppose that you invest $5,000 in a mutual fund at the end of each year for the next 30 years. This period of time is your planned holding period. You intend to leave these contributions and any fund distributions earned in the account until the end of your holding period. Your forecast rate of return on this mutual fund is 9% per year, compounded annually.
What is the forecast value of your account at the end of your holding period?
Round your answer to the nearest dollar.
In: Finance
A woman deposits $14,000 at the end of each year for 10 yearsin an investment...
A woman deposits $14,000 at the end of each year for 10 years in an investment account with a guaranteed interest rate of 4% compounded annually.
(a) Find the value in the account at the end of the 10 years.
(b) Her sister works for an investment firm that pays 3% compounded annually. If the woman deposits money with this firm instead of the one in part (a), how much will she have in her account at the end of 10 years?
(c) How much would she lose or gain over 10 years by investing in her sister's firm? The value in the account at the end of the 10 years will be $nothing. (Do not round until the final answer. Then round to the nearest cent as needed.). Find the future value for the ordinary annuity with the given payment and interest rate.
In: Finance
What is the PV of $779 per year for 5 years if the required return is...
What is the PV of $779 per year for 5 years if the required return is 8.5% (assume the $779 payments come at the end of each of the next 5 years)? Answer to 2 decimal places.
In: Finance