1) How do open ended funds differ from closed ended funds?
2) If you buy a mutual fund are you diversified as they own many different securities?
3) What's the difference between an equity REIT and a mortgage REIT? Are they both equally good as an inflation hedge?
In: Finance
a. Derive the expression for the capacitance of a
parallel plate having two dielectric
field.
b. Write a short note on the magnetization of the
following magnetic material?
i. Diamagnetic
ii. Paramagnetic
iii. Ferromagnetic
c. Derive the
expression for torque developed in a rectangular closed circuit
current (I) in a
uniform field?
In: Electrical Engineering
At equilibrium potential for potassium:
a) The NA+/K+ pump is pumping out of the cell?
b) Leak channels for potassium are closed?
c) There is no current measured ?
d) There an un-equal amounts of potassium ions moving across the membrane depending on the concentration difference?
e) There is no potassium ions moving across the membrane?
In: Anatomy and Physiology
Net revenues at an older manufacturing plant will be $2 million this year. The net revenue will decrease by 15% per year for 5 years, when the assembly plant will be closed (at the end of year 6). If the firm's interest rate is 10%, calculate the PW of the revenue stream. Use excel functions and a table.
In: Accounting
A resistor of resistance R and a capacitor of capacitance C are connected in series to an EMF of voltage E. A switch is set to the open position and the capacitor is initially uncharged. The switch is then closed. Show that when the capacitor charges that half of the energy drawn from the EMF is dissipated in the resistor and that half of the energy is stored in the capacitor.
In: Physics
how do I write this function to check if it is close?
below is checking if the function is open. I want to write another if then statement to check when that function is closed and when the queue is empty. You can use any variables or declaration as a example to show me how it is done.
if (tx.isSenderStreamOpen())
{
}
In: Computer Science
Sandhill Corp., which uses IFRS, signs non-renewable,
non-cancellable lease agreement to lease robotic equipment from Xiu
Inc. The following information concerns the lease
agreement.
| Inception date | January 1, 2020 | |
| Lease term | 5 years | |
| Fair value of equipment Jan. 1, 2020 | $140,000 | |
| Economic life of leased equipment | 7 years | |
| Annual rental payments starting Jan. 1, 2020 | $23,829 | |
| Option to purchase at the end of the term | none | |
| Depreciation method | Straight-line | |
| Residual value | none | |
| Sandhill’s incremental borrowing rate | 6% |
Using (1) factor tables, (2) a financial calculator, or (3) Excel functions, calculate the amount of the right-of-use asset and lease liability.
| The amount of the right-of-use asset | $ |
Prepare the initial entry to reflect the signing of the lease
agreement. (Credit account titles are automatically
indented when the amount is entered. Do not indent manually. If no
entry is required, select "No entry" for the account titles and
enter 0 for the amounts.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
Jan. 1, 2020 |
|||
Prepare an amortization schedule for the term of the lease to be
used by Sandhill. Use Excel. (Round answers to 0
decimal places, e.g. 5,275.)
| Sandhill Corp. Lease Amortization Schedule (Lessee) |
||||||||
| Date | Annual Payment |
Interest on Unpaid Liability |
Reduction of Lease Liability |
Balance of Lease Liability |
||||
| $ | ||||||||
| January 1, 2020 | $ | $ | ||||||
| January 1, 2021 | $ | |||||||
| January 1, 2022 | ||||||||
| January 1, 2023 | ||||||||
| January 1, 2024 | ||||||||
Prepare the journal entries on Sandhill Corp.’s books to record
the payments related to this lease for the years 2020 and 2021 as
well as any adjusting journal entries at its fiscal year ends of
December 31, 2020 and 2021. (Credit account titles are
automatically indented when the amount is entered. Do not indent
manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the
amounts.)
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|
Dec. 31, 2020 Jan. 1, 2021 Dec. 31, 2021 |
|||
| (To record depreciation) | |||
|
Dec. 31, 2020 Jan. 1, 2021 Dec. 31, 2021 |
|||
| (To record interest) | |||
|
Dec. 31, 2020 Jan. 1, 2021 Dec. 31, 2021 |
|||
|
Dec. 31, 2020Jan. 1, 2021Dec. 31, 2021 |
|||
| (To record depreciation) | |||
|
Dec. 31, 2020Jan. 1, 2021Dec. 31, 2021 |
|||
| (To record interest) |
In: Accounting
The Shamrock Pub provides catering services to local businesses.
The following information was available for The Shamrock Pub for
the years ended December 31, 2019 and 2020.
| December 31, 2019 |
December 31, 2020 |
||||||||
| Cash | $ | 2,180 | $ | 1,680 | |||||
| Accounts receivable | 46,500 | ? | |||||||
| Allowance for doubtful accounts | 530 | ? | |||||||
| Other current assets | 8,230 | 7,930 | |||||||
| Current liabilities | 38,300 | 44,700 | |||||||
| Total credit sales | 201,000 | 257,000 | |||||||
| Collections on accounts receivable | 193,000 | 230,000 | |||||||
Shamrock management is preparing for a meeting with its bank concerning renewal of a loan and has collected the following information related to the above balances.
1.The cash reported at December 31, 2020, reflects the following items: petty cash $1,560 and postage stamps $120. The other current assets balance at December 31, 2020, includes the checking account balance of $3,900.
2.On November 30, 2020, Shamrock agreed to accept a 6-month, $4,940 note bearing 12% interest, payable at maturity, from a major client in settlement of a $4,940 bill. The above balances do not reflect this transaction.
3.Shamrock factored some accounts receivable at the end of 2020. It transferred accounts totaling $10,000 to Final Factor, Inc. with recourse. Final Factor will receive the collections from Shamrock's customers and will retain 2% of the balances. Final Factor assesses Shamrock a finance charge of 3% on this transfer. The fair value of the recourse liability is $360. However, management has determined that the amount due from the factor and the fair value of the resource obligation have not been recorded, and neither are included in the balances above.
4.Shamrock charged off uncollectible accounts with balances of $1,570. On the basis of the latest available information, the 2020 provision for bad debts is estimated to be 2.5% of accounts receivable.
Based on the above transactions, determine the balance for (1) Accounts Receivable and (2) Allowance for Doubtful Accounts at December 31, 2020. (Round answers to 0 decimal places, e.g. 125.)
Accounts receivable ending balance$
Allowance for doubtful ending balance$
Prepare the current assets section of The Shamrock Pub's balance sheet at December 31, 2020. (Round answers to 0 decimal places, e.g. 125.) and,
Compute Shamrock's current ratio and accounts receivable turnover for December 31, 2020. The accounts receivable turnover in 2019 was 4.37.
In: Accounting
On January 1, 2020, Blossom Inc. agrees to buy 3 kg of gold at
$32,000 per kilogram from Golden Corp on April 1, 2020, but does
not intend to take delivery of the gold. On the day that the
contract was entered into, the fair value of this futures contract
that trades on the Futures Exchange was zero. On January 1, 2020,
Blossom is required to deposit $66 with the stockbroker as a
margin. The fair value of the futures subsequently fluctuated as
follows:
| Date | Fair Value of Futures Contract | |
|---|---|---|
|
January 20, 2020 |
$455 | |
|
February 6, 2020 |
$130 | |
|
February 28, 2020 |
$362 | |
|
March 14, 2020 |
$750 |
On the settlement date, the spot price of gold is $33,000 per
kilogram. Assume that Blossom complies with IFRS.
QUESTION:
1) Prepare the journal entry for the day the futures contract was signed.
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|---|
|
January 1, 2020 |
enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount |
2) Prepare the journal entries to recognize the changes in the fair value of the futures contract.
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|---|
| transaction date | enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount | |
| transaction date | enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount | |
| transaction date | enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount | |
| transaction date | enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount |
3) Prepare the journal entry that would be required if Blossom settled the contract on a net basis on April 1, 2020.
|
Date |
Account Titles and Explanation |
Debit |
Credit |
|---|---|---|---|
|
April 1, 2020 |
enter an account title | enter a debit amount | enter a credit amount |
| enter an account title | enter a debit amount | enter a credit amount | |
| enter an account title | enter a debit amount | enter a credit amount | |
| enter an account title | enter a debit amount | enter a credit amount |
In: Accounting
Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below:
| Superior Markets, Inc. Income Statement For the Quarter Ended September 30 |
||||||||||||
| Total | North Store |
South Store |
East Store |
|||||||||
| Sales | $ | 3,300,000 | $ | 760,000 | $ | 1,320,000 | $ | 1,220,000 | ||||
| Cost of goods sold | 1,815,000 | 433,000 | 711,000 | 671,000 | ||||||||
| Gross margin | 1,485,000 | 327,000 | 609,000 | 549,000 | ||||||||
| Selling and administrative expenses: | ||||||||||||
| Selling expenses | 823,000 | 234,400 | 316,500 | 272,100 | ||||||||
| Administrative expenses | 398,000 | 109,000 | 155,400 | 133,600 | ||||||||
| Total expenses | 1,221,000 | 343,400 | 471,900 | 405,700 | ||||||||
| Net operating income (loss) | $ | 264,000 | $ | (16,400 | ) | $ | 137,100 | $ | 143,300 | |||
The North Store has consistently shown losses over the past two years. For this reason, management is giving consideration to closing the store. The company has asked you to make a recommendation as to whether the store should be closed or kept open. The following additional information is available for your use:
The breakdown of the selling and administrative expenses that are shown above is as follows:
| Total | North Store |
South Store |
East Store |
|||||
| Selling expenses: | ||||||||
| Sales salaries | $ | 227,200 | $ | 65,500 | $ | 81,800 | $ | 79,900 |
| Direct advertising | 182,000 | 54,000 | 75,000 | 53,000 | ||||
| General advertising* | 49,500 | 11,400 | 19,800 | 18,300 | ||||
| Store rent | 315,000 | 88,000 | 123,000 | 104,000 | ||||
| Depreciation of store fixtures | 17,500 | 4,900 | 6,300 | 6,300 | ||||
| Delivery salaries | 21,900 | 7,300 | 7,300 | 7,300 | ||||
| Depreciation of delivery equipment |
9,900 | 3,300 | 3,300 | 3,300 | ||||
| Total selling expenses | $ | 823,000 | $ | 234,400 | $ | 316,500 | $ | 272,100 |
*Allocated on the basis of sales dollars.
| Total | North Store |
South Store |
East Store |
|||||
| Administrative expenses: | ||||||||
| Store managers' salaries | $ | 74,500 | $ | 22,500 | $ | 31,500 | $ | 20,500 |
| General office salaries* | 49,500 | 11,400 | 19,800 | 18,300 | ||||
| Insurance on fixtures and inventory | 28,000 | 8,400 | 10,500 | 9,100 | ||||
| Utilities | 107,535 | 31,695 | 39,540 | 36,300 | ||||
| Employment taxes | 55,965 | 16,005 | 21,060 | 18,900 | ||||
| General office—other* | 82,500 | 19,000 | 33,000 | 30,500 | ||||
| Total administrative expenses | $ | 398,000 | $ | 109,000 | $ | 155,400 | $ | 133,600 |
*Allocated on the basis of sales dollars.
The lease on the building housing the North Store can be broken with no penalty.
The fixtures being used in the North Store would be transferred to the other two stores if the North Store were closed.
The general manager of the North Store would be retained and transferred to another position in the company if the North Store were closed. She would be filling a position that would otherwise be filled by hiring a new employee at a salary of $10,400 per quarter. The general manager of the North Store would continue to earn her normal salary of $11,400 per quarter. All other managers and employees in the North store would be discharged.
The company has one delivery crew that serves all three stores. One delivery person could be discharged if the North Store were closed. This person’s salary is $4,300 per quarter. The delivery equipment would be distributed to the other stores. The equipment does not wear out through use, but does eventually become obsolete.
The company pays employment taxes equal to 15% of their employees' salaries.
One-third of the insurance in the North Store is on the store’s fixtures.
The “General office salaries” and “General office—other” relate to the overall management of Superior Markets, Inc. If the North Store were closed, one person in the general office could be discharged because of the decrease in overall workload. This person’s compensation is $5,700 per quarter.
Required:
1. How much employee salaries will the company avoid if it closes the North Store?
2. How much employment taxes will the company avoid if it closes the North Store?
3. What is the financial advantage (disadvantage) of closing the North Store?
4. Assuming that the North Store's floor space can’t be subleased, would you recommend closing the North Store?
|
5. Assume that the North Store's floor space can’t be subleased.
However, let's introduce three more assumptions. First, assume that
if the North Store were closed, one-fourth of its sales would
transfer to the East Store, due to strong customer loyalty to
Superior Markets. Second, assume that the East Store has enough
capacity to handle the increased sales that would arise from
closing the North Store. Third, assume that the increased sales in
the East Store would yield the same gross margin as a percentage of
sales as present sales in the East store. Given these new
assumptions, what is the financial advantage (disadvantage) of
closing the North Store? (Enter any "disadvantages" as a negative
value.)
In: Accounting