Sandeep wants to retire in 15 years and he needs to have $60,000 for a down payment on his retirement home. If he makes quarterly payments into an account paying 7% annual interest compounded quarterly, how much should he deposit each quarter to obtain the desired down payment?
In: Math
A project has the following cash flows:
|
Year |
0 |
1 |
2 |
3 |
4 |
|
Cash flow |
($240,000) |
$60,000 |
$100,000 |
$60,000 |
$80,000 |
The project's payback period is:
|
a. |
four years |
|
b. |
three and one-half years |
|
c. |
three and one-quarter years |
|
d. |
none of the above |
In: Finance
What type of seasonal behavior commonly occurs at work places ? If possible, give the percentages of the annual values for each quarter or month and indicate the company or industry of your choice. What type of management problems are created by the seasonality, and how do (or might) managers cope with them? Respond directly to the questions.
In: Finance
Q2. Define the master budget and use your own figures to prepare the following quarter budgets:(2.5 marks) 1- Sales budget 2- Production budget with ending inventory. 3- Raw material budget with ending inventory. 4- Direct labor budget 5- Manufacturing overhead budget
In: Accounting
Daybook Inc. A budget of estimated unit production.budgeted production of 403,500 personal journals in 20Y6. Paper is required to produce a journal. Assume six square yards of paper are required for each journal. The estimated January 1, 20Y6, paper inventory is 40,400 square yards. The desired December 31, 20Y6, paper inventory is 38,900 square yards. Paper costs $0.40 per square yard.
Each journal requires assembly. Assume that eight minutes are required to assemble each journal. Assembly labor costs $13.00 per hour.
Prepare a cost of goods sold An accounting device used to plan and control resources of operational departments and divisions.budget for Daybook Inc. using the information above. Assume the estimated inventories on January 1, 20Y6, for finished goods and work in process were $28,000 and $16,500, respectively. Also assume the desired inventories on December 31, 20Y6, for finished goods and work in process were $30,000 and $14,300, respectively. Factory overhead was budgeted at $214,600. Round your interim calculations to nearest cent, if required.
| DAYBOOK INC. | |||
| Cost of Goods Sold Budget | |||
| For the Year Ending December 31, 20Y6 | |||
|
$ | ||
|
$ | ||
| Direct materials: | |||
|
$ | ||
|
|||
|
$ | ||
|
|||
| Cost of direct materials placed in production | $ | ||
|
|||
|
|||
|
|||
| Total work in process during period | $ | ||
|
|||
|
|||
|
$ | ||
|
|||
|
$ | ||
In: Accounting
(Chapter 3 LO3)
The ledger of Pina Colada Corp. on March 31 of the current year
includes the selected accounts, shown below, before quarterly
adjusting entries have been prepared.
|
Debit |
Credit |
|||
| Prepaid Insurance | $ 1,800 | |||
| Supplies | 3,400 | |||
| Equipment | 18,750 | |||
| Accumulated Depreciation—Equipment | $ 8,600 | |||
| Notes Payable | 21,000 | |||
| Unearned Rent Revenue | 9,900 | |||
| Rent Revenue | 61,000 | |||
| Interest Expense | 0 | |||
| Salaries and Wages Expense | 11,000 |
An analysis of the accounts shows the following.
| The equipment depreciates $300 per month. | ||
| 2. | One-third of the unearned rent revenue was earned during the quarter. | |
| 3. | Interest totaling $525 is accrued on the notes payable for the quarter. | |
| 4. | Supplies on hand total $570. | |
| 5. | Insurance expires at the rate of $100 per month. |
Prepare the adjusting entries at March 31, assuming that adjusting
entries are made quarterly. Additional accounts
are Depreciation Expense, Insurance Expense, Interest Payable, and
Supplies Expense.
In: Accounting
The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Debit Credit Prepaid Insurance $ 3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation—Equipment $ 8,400 Notes Payable 20,000 Unearned Rent Revenue 10,200 Rent Revenue 60,000 Interest Expense 0 Salaries and Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest totaling $500 is accrued on the notes payable for the quarter. 4. Supplies on hand total $900. 5. Insurance expires at the rate of $200 per month.
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.
In: Accounting
Consider the applications for home mortgages data in the file of P12_04.xlsx. Use multiple regression to develop an equation that can be used to predict future applications for home mortgages (hint: use dummy variables for the quarters and create a time variable for the quarter numbers)
| Quarter | Year | Applications |
| 1 | 1 | 96 |
| 2 | 1 | 114 |
| 3 | 1 | 112 |
| 4 | 1 | 81 |
| 1 | 2 | 97 |
| 2 | 2 | 103 |
| 3 | 2 | 120 |
| 4 | 2 | 99 |
| 1 | 3 | 105 |
| 2 | 3 | 110 |
| 3 | 3 | 117 |
| 4 | 3 | 96 |
| 1 | 4 | 74 |
| 2 | 4 | 94 |
| 3 | 4 | 100 |
| 4 | 4 | 96 |
| 1 | 5 | 95 |
| 2 | 5 | 122 |
| 3 | 5 | 113 |
| 4 | 5 | 100 |
| 1 | 6 | 102 |
| 2 | 6 | 96 |
| 3 | 6 | 116 |
| 4 | 6 | 98 |
In: Statistics and Probability
Trading skills of institutional investors. Managers of stock portfolios make decisions as to what stocks to buy and sell in a given quarter. The trading skills of these institutional investors were quantified and analyzed in The Journal of Finance (April 2011). The study focused on "round-trip" trades, i.e., trades in which the same stock was both bought and sold in the same quarter. Consider a random sample of 200 round trips made by institutional investors. Suppose the sample mean rate of return is 2.95% and the sample standard deviation is 8.82%. If the true mean rate of return of round-trips is positive, then the population of institutional investors is considered to have preformed successfully.
a) Specify the null and alternative hypotheses for determining whether the population of institutional investors preformed successfully.
b) Find the rejection region for the test using alpha=0.05.
c) Interpret the value of alpha in the words of the problem.
d) Give the appropriate conclusion in the words of the problem.
In: Statistics and Probability
Glass PLC is a manufacturing company and engaged in the business of wholesale and retail business. The following information has been provided for the quarter ended 31st October 2019. 1. Sales to Wholesale shops : Rs. 7,500,000 2. Sales to end customers : Rs. 6,000,000 3. NBT paid on imported raw materials : Rs. 35,000 4. NBT paid on services : Rs. 50,000 Compute the NBT payable for the quarter ended 31st October 2019
B. Explain the different between exempt suppliers and Zero- rated supplies with reference to Value Added Tax (VAT
C. Roshan is a resident individual and tax payer. He has failed to comply with the statutory requirement to submit an income tax return on or before the due dates. State the applicable penalties for non- compliance with reference to Inland revenue Act No. 24 of 2017.
D. Explain five withholding taxes applicable in Sri Lanka for the year of assessment 2018/19.
In: Accounting