Questions
In finance, what do we mean by the time value of money? How do we calculate it?
In finance, what do we mean by the time value of money? How do we calculate it?
In: Finance
calculation of the total factory overhead variance.
A firm applied factory overhead of $2 per unit to manufacture each inventory unit. They expected to make 10 units of inventory but made 12 units. The total cost of factory overhead was $21 for the period. The total factory overhead variance was
Select one:
a. $3 Favorable.
b. $1 Favorable.
c. $1 Unfavorable.
d. $3 Unfavorable
In: Accounting
Auditing the accounts payable balance on the balance sheet
When auditing the accounts payable balance on the balance sheet, an auditor’s procedures most likely would focus primarily on management’s assertion of
Select one:
a. Existence
b. Rights and obligations
c. Presentation and disclosure
d. Completeness.
In: Accounting
Give the detail description of DSC scan of a certain polyethylene terephthalate polymer.
Give the detail description of DSC scan of a certain polyethylene terephthalate polymer.
In: Chemistry
The income statement for Delta-tec Inc. for the year ended December 31, 2016, was as follows
The income statement for Delta-tec Inc. for the year ended December 31, 2016, was as follows:
|
Delta-tec Inc. |
|
Income Statement (selected items) |
|
For the Year Ended December 31, 2016 |
|
1 |
Income from operations |
$299,700.00 |
|
2 |
Gain on sale of investments |
17,800.00 |
|
3 |
Less unrealized loss on trading investments |
72,500.00 |
|
4 |
Net income |
$245,000.00 |
The balance sheet dated December 31, 2015, showed a Retained Earnings balance of $825,000. During 2016, the company purchased trading investments for the first time at a cost of $346,000. In addition, trading investments with a cost of $66,000 were sold at a gain during 2016. The company paid $65,000 in dividends during 2016.
Required:
A. Determine the December 31, 2016, Retained Earnings balance.
B. Provide the December 31, 2016, balance sheet presentation for Trading Investments.
In: Accounting
Chapter one Case 1, please answer all Questions from 1-7 based on the following Case?
Chapter one Case 1, please answer all Questions from 1-7 based on the following Case?
Starge Inc. owns 30% of the outstanding voting common stock of Ticker Co. and has the ability to significantly influence the investee's operations and decision making. On January 1,2018, the balance in the Investment in Ticker Co. account was $ 403,159. Amortization associated with this acquisition is $8,111 per year. During 2018, Ticker earned an income of $ 108,899 and paid cash dividends of $ 36,897. Previously in 2017, Ticker had sold inventory costing $ 28,988 to Starge for $ 48,956. All but 25 % of this merchandise was consumed by Starge during 2017. The remainder was used during the first few weeks of 2018. Additional sales were made to Starge in 2018; inventory costing $33,987 was transferred at a price of $61,258. Of this total, 40% was not consumed until 2019.
1. What amount of equity income would S inc have recognized in 2018 from its ownership interest in T Inc.
In: Accounting
For each of the unrelated transactions described below, present the entries required to record each transaction.
For each of the unrelated transactions described below, present the entries required to record each transaction.
1. Concord Corp. issued $19,900,000 par value 9% convertible bonds at 99. If the bonds had not been convertible, the company’s investment banker estimates they would have been sold at 95.
2. Hoosier Company issued $20,000,000 par value 10% bonds at 98. One detachable stock purchase warrant was issued with each $100 par value bond. At the time of issuance, the warrants were selling for $4.
3. Suppose Sepracor, Inc. called its convertible debt in 2017. Assume the following related to the transaction. The 11%, $10,000,000 par value bonds were converted into 1,000,000 shares of $1 par value common stock on July 1, 2017. On July 1, there was $55,000 of unamortized discount applicable to the bonds, and the company paid an additional $75,000 to the bondholders to induce conversion of all the bonds. The company records the conversion using the book value method.
In: Accounting
Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia
Gold Star Rice, Ltd., of Thailand exports Thai rice throughout Asia. The company grows three varieties of rice—White, Fragrant, and Loonzain. Budgeted sales by product and in total for the coming month are shown below:
| Product | ||||||||||||||
| White | Fragrant | Loonzain | Total | |||||||||||
| Percentage of total sales | 48% | 20% | 32% | 100% | ||||||||||
| Sales | $ | 3,40,800 | 100% | $ | 1,42,000 | 100% | $ | 2,27,200 | 100% | $ | 710,000 | 100% | ||
| Variable expenses | 102,240 | 30% | 1,13,600 | 80% | 1,24,960 | 55% | 3,40,800 | 48% | ||||||
| Contribution margin | $ | 2,38,560 | 70% | $ | 28,400 | 20% | $ | 1,02,240 | 45% | 3,69,200 | 52% | |||
| Fixed expenses | 2,32,960 | |||||||||||||
| Net operating income | $ | 1,36,240 | ||||||||||||
| Dollar sales to break even = |
Fixed expenses |
= |
$2,32,960 |
= $4,48,000 |
| Unit CM | $0.52 |
As shown by these data, net operating income is budgeted at $136,240 for the month and the estimated break-even sales is $448,000. Assume that actual sales for the month total $710,000 as planned. Actual sales by product are: White, $227,200; Fragrant, $284,000; and Loonzain, $198,800. Required:
1. Prepare a contribution format income statement for the month based on the actual sales data.
2. Compute the break-even point in dollar sales for the month based on your actual data.
In: Accounting
Price of T-Bill
What is the price of a T-Bill 98 days prior to maturity if the face amount is 100 and the yield (the simple interest rate) is 2.7% per annum.
In: Math
Account Balance after 3 years
You deposit $1000 into a saving account with 9% interest per annum. Assuming no transactions on the account, determine the account balance after 3 years.
In: Math
What is mandela effect?
Description or theory involved in the Madela Effect is explained interms of theory/conspiracy theory.
In: Other
compute the annual depreciation charges over the machine's life assuming a december 31 year end for each of the following depreciation methods.
A. compute the annual depreciation charges over the machine's life assuming a december 31 year end for each of the following depreciation methods.
1. Straight line method 2. Sum-of-the-years-digits method
3.Double declining balance method
B. Assume a fiscal year end of september 30 .compute the annual depreciation charges over the machine's life applying each of the following methods.
1. Straight line method 2. Sum-of-the-years-digits method
3.Double declining balance method
In: Accounting
True or False questions related to Assets [Both Tangible and Intangible Assets ]
True or False
In: Accounting
How much Human Resources cost would be allocated to Cafeteria?
Marshall Welding Company has two service departments (Cafeteria and Human Resources) and two production departments (Machining and Assembly). The number of employees in each department follows.
cafeteria 20
human resources 30
machining 100
assembly 150
Marshall Welding uses the step-down method of cost allocation and allocates cost on the basis of employees. Human Resources cost amounts to $1,200,000, and the department provides more service to the firm than Cafeteria. How much Human Resources cost would be allocated to Cafeteria?
a. $88,888
b. $28,572
c. none of the answers is correct
d. $44,444
e. $0
In: Accounting