Questions
You purchase a car for 10,000 The car loan is financed with a 5% per year,...

You purchase a car for 10,000

The car loan is financed with a 5% per year, 5 year loan with annyual payments starting at time 1 (1 year from today) through time 5

Each payment reduces the principal by a certain amount until the loan is completely paid off.

What is the interest component of the first payment?

(I am allowed to use the TI-34 and BAII Plus calculators)

In: Finance

The stockholders’ equity section of K Inc. at the beginning of the current year appears below....

The stockholders’ equity section of K Inc. at the beginning of the current year appears below.
Common stock, $10 par value, authorized 944,000 shares, 303,000 shares issued and outstanding $3,030,000
Paid-in capital in excess of par—common stock 549,000
Retained earnings 531,000

During the current year, the following transactions occurred.
1. The company issued to the stockholders 103,000 rights. Ten rights are needed to buy one share of stock at $32. The rights were void after 30 days. The market price of the stock at this time was $34 per share.
2. The company sold to the public a $198,000, 10% bond issue at 104. The company also issued with each $100 bond one detachable stock purchase warrant, which provided for the purchase of common stock at $30 per share. Shortly after issuance, similar bonds without warrants were selling at 96 and the warrants at $8.
3. All but 5,150 of the rights issued in (1) were exercised in 30 days.
4. At the end of the year, 80% of the warrants in (2) had been exercised, and the remaining were outstanding and in good standing.
5. During the current year, the company granted stock options for 10,700 shares of common stock to company executives. The company, using a fair value option-pricing model, determines that each option is worth $10. The option price is $30. The options were to expire at year-end and were considered compensation for the current year.
6. All but 1,070 shares related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill an obligation related to the employment contract.

(a)

Prepare general journal entries for the current year to record the transactions listed above. (Credit account titles are automatically indented when 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. Round intermediate calculations to 5 decimal places, e.g. 1.24687 and final answers to 0 decimal places, e.g. 5,125.)

No.

Account Titles and Explanation

Debit

Credit

1.

 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.

 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

3.

 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

4.

 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

5.

 enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount enter a credit amount

6.

For options exercised:
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

For options lapsed:
enter an account title enter a debit amount enter a credit amount
enter an account title enter a debit amount

In: Accounting

In a slow year, Deutsche Burgers will produce 3.200 million hamburgers at a total cost of...

In a slow year, Deutsche Burgers will produce 3.200 million hamburgers at a total cost of $4.600 million. In a good year, it can produce 6.200 million hamburgers at a total cost of $6.400 million. a. What are the fixed costs of hamburger production? (Do not round intermediate calculations. Enter your answer in millions rounded to 1 decimal place.) b. What is the variable cost per hamburger? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. What is the average cost per burger when the firm produces 3 million hamburgers? (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. What is the average cost per burger when the firm produces 4 million hamburgers? (Do not round intermediate calculations. Round your answer to 2 decimal places.) e. Why is the average cost lower when more burgers are produced? The fixed costs are spread across more burgers. Variable costs are lower per burger. Fixed costs are constant per burger. rev: 09_25_2017_QC_CS-101934 Next Visit question mapQuestion 1 of 6 Total 1

In: Finance

Periodic Inventory by Three Methods The units of an item available for sale during the year...

Periodic Inventory by Three Methods

The units of an item available for sale during the year were as follows:

Jan. 1   Inventory 6 units @ $50
Feb. 17   Purchase 14 units @ $52
Jul. 21   Purchase 13 units @ $53
Nov. 23   Purchase 10 units @ $54

There are 4 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to one decimal and final answers to the nearest whole dollar, if required.

a. Determine the inventory cost by the first-in, first-out method.
$

b. Determine the inventory cost by the last-in, first-out method.
$

c. Determine the inventory cost by the weighted average cost method.
$

In: Accounting

Suppose a? ten-year, $ 1000 bond with an 8.1 % coupon rate and semiannual coupons is...

Suppose a? ten-year, $ 1000 bond with an 8.1 % coupon rate and semiannual coupons is trading for $ 1034.99. a. What is the? bond's yield to maturity? (expressed as an APR with semiannual? compounding)? b. If the? bond's yield to maturity changes to 9.5 % ?APR, what will be the? bond's price? (Round to two decimal? places.)

In: Finance

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible...

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement.

After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations. Month 1 2 3 4 Throughput time (days) ? ? ? ? Delivery cycle time (days) ? ? ? ? Manufacturing cycle efficiency (MCE) ? ? ? ? Percentage of on-time deliveries 75 % 70 % 67 % 64 % Total sales (units) 2770 2651 2515 2420

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months: Average per Month (in days) 1 2 3 4 Move time per unit 0.8 0.4 0.5 0.5 Process time per unit 3.9 3.7 3.5 3.3 Wait time per order before start of production 16.0 17.5 21.0 22.6 Queue time per unit 5.0 5.9 6.9 8.0 Inspection time per unit 0.4 0.6 0.6 0.4

Required: 1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month

4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month

4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

please help me i have just 2 hours

type but can i copy

In: Accounting

Note: This problem is for the 2018 tax year. Alfred E. Old and Beulah A. Crane,...

Note: This problem is for the 2018 tax year. Alfred E. Old and Beulah A. Crane, each age 42, married on September 7, 2016. Alfred and Beulah will file a joint return for 2018. Alfred's Social Security number is 111-11-1112. Beulah's Social Security number is 123-45-6789, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorced from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2018. In addition, in January 2018, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2018 is $150,000, and his employer, Cherry, Inc. (Federal I.D. No. 98-7654321), provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society, Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives a salary of $42,000 in 2018. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah has $500 in qualified dividends on Yellow Corporation stock she inherited. Alfred and Beulah receive a $1,900 refund on their 2017 state income taxes. They itemized deductions on their 2017 Federal income tax return (total of $15,000). Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2018. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Both spouses had health insurance for all months of 2018 and do not want to contribute to the Presidential Election Campaign. Provide the following that would be reported on Alfred and Beulah's Schedule A: 1. Calculate the deduction allowed for medical and dental expenses. $ 2. Calculate the deduction for taxes. $ 3. Calculate the deduction for interest. $ 4. Calculate the charitable deduction allowed. $ 5. Calculate total itemized deductions:

In: Accounting

A 5 year bond has a YTM of 7% and a coupon rate of 8%. Assuming...

A 5 year bond has a YTM of 7% and a coupon rate of 8%. Assuming a par value of $1,000 and semi-annual coupon payments, what should this bond be trading for?

In: Finance

The total factory overhead for Bardot Marine Company is budgeted for the year at $1,262,000, divided...

The total factory overhead for Bardot Marine Company is budgeted for the year at $1,262,000, divided into two departments: Fabrication, $990,000, and Assembly, $272,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The speedboats require three direct labor hours in Fabrication and one direct labor hour in Assembly. The bass boats require two direct labor hours in Fabrication and three direct labor hours in Assembly. Each product is budgeted for 8,000 units of production for the year.

If required, round all per unit answers to the nearest cent.

a. Determine the total number of budgeted direct labor hours for the year in each department.

Fabrication fill in the blank 1 direct labor hours
Assembly fill in the blank 2 direct labor hours

b. Determine the departmental factory overhead rates for both departments.

Fabrication $fill in the blank 3 per dlh
Assembly $fill in the blank 4 per dlh

c. Determine the factory overhead allocated per unit for each product using the department factory overhead allocation rates.

Speedboat: $fill in the blank 5 per unit
Bass boat: $fill in the blank 6 per unit

In: Accounting

On January 1, 2017, Loud Company enters into a 2-year contract with a customer for an...

On January 1, 2017, Loud Company enters into a 2-year contract with a customer for an unlimited talk and 5 GB data wireless plan for $65 per month. The contract includes a smartphone for which the customer pays $299. Loud also sells the smartphone and monthly service plan separately, charging $649 for the smartphone and $65 for the monthly service for the unlimited talk and 5 GB data wireless plan. On July 1, 2017, the customer realizes that she needs less data in her wireless plan and downgrades to the unlimited talk and 2 GB data plan for the remaining term of the contract (18 months). The unlimited talk and 2 GB data plan is priced at $55 per month. The $55 per month is Loud’s current stand-alone price for this plan that is available to all customers.

Required:

1. How should Loud account for this contract modification?

2. Provide Loud’s new monthly revenue recognition journal entry.

In: Accounting