Questions
A Company is considering investing in a new dock that will cost $350,000. The company expects...

A Company is considering investing in a new dock that will cost $350,000. The company expects to use the dock for 5 years, after which it will be sold for $90,000. LakeFront anticipates annual net cash inflows of $85,000 resulting from the new dock. Instructions

Calculate the net present value of the dock assuming the company's cost of capital is 10%.

Calculate the net present value of the dock assuming the company's cost of capital is 15%.

In: Accounting

A student planning a career in management wondered why it was important to learn cost and...

A student planning a career in management wondered why it was important to learn cost and management accounting. How would you respond? Give some examples to support your point of view.

In: Accounting

Determining the cost of goods in a perpetual or periodic inventory system? (what goes into the...

  1. Determining the cost of goods in a perpetual or periodic inventory system? (what goes into the cost of goods purchased) (what is included of the cost of reselling items on the shelf
  2. Calculation of gross profit rate and ratio (steps)
  3. What is FOB (given a situation on who owns the stuff when we are taking inventory)
  4. Using FIFO inventory calculate the amount of the ending inventory (steps)
  5. Using LIFO inventory calculate the amount of the ending inventory (steps)
  6. Question about net realizable value and how it relates to inventory (what’s the definition of net realizable value)
  7. Reverse of internal controls
  8. Describe a particular procedure and asks to identify a control principal (definition of control principal)
  9. Question about bank reconciliation (how to handle in particular bank rec item exp outstanding deposit in transit, outstanding checks, nsff check)
  10. Check was incorrectly was entered into the accounting records but the bank cashed it as the right amount hoe do we handle that?

Answer as many as you can please

In: Accounting

The managers of Luckyprod Manufacturing are discussing ways to allocate the cost of service departments, such...

The managers of Luckyprod Manufacturing are discussing ways to allocate the cost of service departments, such as Quality Control and Maintenance, to the production departments. To aid them in this discussion, the controller has provided the following information:

Quality control Maintenance Machining Assembly Total
Budgeted overhead costs before allocation $350,000 $200,000 $400,000 $300,000 $1,250,000
Budgeted machine hours -- -- 50,000 -- 50,000
Budgeted direct labor hours -- -- -- 25,000 25,000
Budgeted hours of service
Quality control -- 7,000 21,000 7,000 35,000
Maintenance 10,000 -- 18,000 12,000 40,000

Requirements:

(28-1) If Luckyprod uses the direct method of allocating service department costs, calculate the total amount of overhead costs (including its own overhead costs) allocated to the assembly department. (3 points).

(28-2) If Luckyprod uses the step-down method of allocating service costs beginning with the support department with the highest amount of interdepartmental support service, calculate the total amount of overhead costs (including its own overhead costs) allocated to the assembly department. (5 points)

(28-3) If Luckyprod uses the reciprocal method of allocating service costs, calculate the total amount of overhead costs (including its own overhead costs) allocated to the assembly department. (7 points)

(28-4) Comment on your results in (28-1), (28-2), and (28-3). Discuss the differences, advantages, and disadvantages of the three methods. (6 points)

In: Accounting

Cheyenne Co. is building a new hockey arena at a cost of $2,560,000. It received a...

Cheyenne Co. is building a new hockey arena at a cost of $2,560,000. It received a downpayment of $450,000 from local businesses to support the project, and now needs to borrow $2,110,000 to complete the project. It therefore decides to issue $2,110,000 of 12%, 10-year bonds. These bonds were issued on January 1, 2016, and pay interest annually on each January 1. The bonds yield 11%.

Prepare the journal entry to record the issuance of the bonds on January 1, 2016. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Prepare a bond amortization schedule up to and including January 1, 2020, using the effective interest method. (Round answers to 0 decimal places, e.g. 38,548.)

Assume that on July 1, 2019, Cheyenne Co. redeems half of the bonds at a cost of $1,110,800 plus accrued interest. Prepare the journal entry to record this redemption. (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

In: Accounting

In a random sample of 50 ​refrigerators, the mean repair cost was ​$132.00 and the population...

In a random sample of

50

​refrigerators, the mean repair cost was

​$132.00

and the population standard deviation is

​$15.10

A

95%

confidence interval for the population mean repair cost is

(127.81,136.19).

Change the sample size to

n=100

Construct a

95

confidence interval for the population mean repair cost. Which confidence interval is​ wider? Explain.

In: Statistics and Probability

The Collins Corporation purchased office equipment at the beginning of 2019 and capitalized a cost of...

The Collins Corporation purchased office equipment at the beginning of 2019 and capitalized a cost of $2,200,000. This cost included the following expenditures:

Purchase price $ 1,960,000
Freight charges 42,000
Installation charges 32,000
Annual maintenance charge 166,000
Total $ 2,200,000


The company estimated an eight-year useful life for the equipment. No residual value is anticipated. The double-declining-balance method was used to determine depreciation expense for 2019 and 2020.

In 2021, after the 2020 financial statements were issued, the company decided to switch to the straight-line depreciation method for this equipment. At that time, the company’s controller discovered that the original cost of the equipment incorrectly included one year of annual maintenance charges for the equipment.

Required:
1 & 2. Ignoring income taxes, prepare the appropriate correcting entry for the equipment capitalization error discovered in 2021 and any 2021 journal entries related to the change in depreciation methods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.)

In: Accounting

Please, use this forum to provide a cost benefit analysis of taking this class in an...

Please, use this forum to provide a cost benefit analysis of taking this class in an accelerated online format.

What are some of the benefits of taking this course online? What are some benefits of taking this course in an accelerated format? (half of a semester time).
What were the costs?

This is for my online (macro) econ class discussion. please help! this is a make or break. thanks!

In: Economics

Conduct a financial statement analysis of Verizon Communication Inc Cost structure.

Conduct a financial statement analysis of Verizon Communication Inc Cost structure.

In: Accounting

A company tends to sell the rice for £1 a kilogram. The variable cost of production...

A company tends to sell the rice for £1 a kilogram. The variable cost of production per kilogram is 60 pence and the fixed costs associated with this product are estimated to be £50000 a year. The company’s maximum output of rice will be 250,000 kg per year. Present graphically by drawing break-even charts for the company. Also illustrate numerically.

In: Accounting