A type of manager that supports first line managers is known as

Answers

Answer 1

Answer:

First-line managers operate their departments. They assign tasks, manage work flow, monitor the quality of work, deal with employee problems, and keep the middle managers and executive managers informed of problems and successes at ground level in the company.

Explanation:


Related Questions

On January 1, 20X8, Potter Corporation acquired 90 percent of Shoemaker Company’s voting stock, at underlying book value. The fair value of the noncontrolling interest was equal to 10 percent of the book value of Shoemaker at that date. Potter uses the fully adjusted equity method in accounting for its ownership of Shoemaker. On December 31, 20X9, the trial balances of the two companies are as follows: Based on the preceding information, what amount would be reported as income to controlling interest in the consolidated financial statements for 20X9?

Answers

Answer:

$138,000

Explanation:

Subsidiary is a company which is controlled by its parent. Potter Corporation acquired 90% stock in Shoemaker Company. The non controlling interest is 10% in Shoemaker Company. The company made a profit of $1,380,000. The 90% share will be allocated to the parent company and only 10% share will be allocated to the Non Controlling Interest.

What are commercial bank?

Answers

Answer:

A commercial bank is a type of bankthat provides services such as accepting deposits, making business loans, and offering basic investment products that is operated as a business for profit.

Commercial bank:a bank that offers services to the general public and to companies.

Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $483,000, has an estimated useful life of 10 years and an estimated residual value of $63,000. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation?

Answers

Answer: $42,000

Explanation:

Using a straight line Depreciation method means that the Equipment will be depreciated uniformly throughout it's life.  i.e by the same amount.

Depreciation = (Cost - Residual Value) / Useful Life

= (483,000 - 63,000) / 10

= 420,000/10

= $42,000

The annual Depreciation amount for Year 1 - 3 is $42,000 and will be the same as long as the Equipment is in service.

During January 2018, the first month of operations, a consulting firm had following transactions: Issued common stock to owners in exchange for $20,000 cash. Purchased $5,000 of equipment, paying $1,000 cash and signing a promissory note for $4,000. Received $9,000 in cash for consulting services performed in January. Purchased $1,500 of supplies on account; all of the supplies were used in January. Provided consulting services on account in the amount of $16,000. Paid $750 on account. Paid $3,000 to employees for work performed during January. Received a bill for utilities for January of $3,400; the bill remains unpaid. What is the amount of total revenue to be reported on the income statement for the month of January?

Answers

Answer:

The total or gross revenue for this company on the income statement would be the sum of:

$9,000 received in cash for consulting services performed in January$16,000 worth of consulting services that will be paid on account.

So the total revenue will be $25,000.

This is because revenue is different from cash: as long as the sales are made, they are counted as revenue even if they are on account, and no cash payment has been made.

Suppose all individuals are​ identical, and their monthly demand for Internet access from a certain leading provider can be represented as p​ = 5 minusone half q where p is price in​ $ per hour and q is hours per month. The firm faces a constant marginal cost of​ $1. If the firm will charge a monthly access fee plus a per hour​ rate, the monthly access fee will equal A. ​$5. B. ​$16. C. ​$1. D. ​$8.

Answers

Answer: B) $16

Explanation:

First lets take down the data given to us;

access from a certain leading provider can be represented as p​ = 5 minusone half q i.e 5 - 0.5q

Using the concept of two-part terrific which is a monopolistic market system, it is type of price discrimination where the price of goods and services are of two section namely; a lump-sum fee (expensive) as well as a per-unit charge .

Entry fees are set to be equal to the consumer surplus in the competitive equilibrium.

So we calculate our price and quantity in the competitive equilibrium first,  marginal cost is equal to price

5 - 0.5q = 1

4 / 0.5 = q

q = 8

Now the intercept of the demand curve at the vertical axis is 5,

so the consumer surplus in the competitive equilibrium is:

M = (5 - 1) * 8 / 2

M = 4 * 4

M = 16

the monthly access fee will be equal to $16.

The cash account for Coastal Bike Co. at October 1, 20Y9, indicated a balance of $36,016. During October, the total cash deposited was $138,030, and checks written totaled $138,571. The bank statement indicated a balance of $43,940 on October 31, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items: A. Checks outstanding totaled $6,281. B. A deposit of $1,796 representing receipts of October 31, had been made too late to appear on the bank statement. C. The bank had collected for Coastal Bike Co. $5,670 on a note left for collection. The face of the note was $5,400. D. A check for $570 returned with the statement had been incorrectly charged by the bank as $750. E. A check for $210 returned with the statement had been recorded by Coastal Bike Co. as $120. The check was for the payment of an obligation to Rack Pro Co. on account. F. Bank service charges for October amounted to $26. G. A check for $1,394 from Bay View Condos was returned by the bank due to insufficient funds.

Answers

Answer:

Explanation:

This is an incomplete question and the missing part is as listed.

A) Prepare a bank reconciliation as at October 31, 20Y9

B)Jornalize the necessary entry

C)If a balanced sheet was prepared for Coastal Bike Co., what amount should be reported as cash?

Solution

Opening cash balance -  36,016

Cash deposited -             138,030

Check written -                (138,571)

                                         35,475

Bank reconciliation for Coastal bike as at October 31 20Y9

Cash balance according to Bank statement  -                43,940

Unrecorded deposit               1796

Bank error (750-570)               180

Outstanding checks               6281

Total adjustment                                                                   4,305

Adjusted balance                                                                 39,635

Cash balance after considering the month,s transaction   35,475

Note collected by bank                    5670

Bank charges                                       26

Returned checks                               1,394

Error in recording check(210-120)       90

Total adjustment                                                                      4160

Adjusted balance                                                                    39,635

B

Entries that increase cash

Description                               Debit                    Credit

Cash                                          5670

Note receivable                                                     5400

Interest Income                                                        270

Accounts payable (Rack pro)      90

Accounts receivable (Bay view) 1394

Bank charges                                26

Cash                                                                         1510

c

Amount to be recorded as cash in balanced sheet

Opening cash balance -  36,016

Cash deposited -             138,030

Check written -                (138,571)

                                         35,475

A company would like to produce 5000 products per week for 30 weeks. The Direct Material Cost for the raw materials used in the product is $1.50 per product. After producing 500 products, the company must stop production to replace a filter on the machine (the filter is replaced after producing every 500 products). The filter costs $50.00. What is the Total Cost Per Product

Answers

Answer:

Total Cost Per Product is $1.60

Explanation:

From the question the following information are derived:

Direct raw material cost per product = $1.50

The cost of the filter for producing 500 products = $50

Hence, the cost of the filter per product = $(50 / 500) = $0.10

In this question, No cost of labor is given, we can now decide the following

Total Cost per product = $(1.50 + 0.10)

= $1.60

Total Cost Per Product in this account is $1.60

If a company would like to produce 5000 products per week for 30 weeks. The Direct Material Cost for the raw materials used in the product is $1.50 per product. The Total Cost Per Product is $1.60.

Using this formula

Total cost per product=Direct raw material cost per product +( Filter costs/Production)

Where:

Direct raw material cost per product  = $1.50

Costs of filter =$50

Production=500

Let plug in the formula

Total cost per product=$1.50+($50 / 500)

Total cost per product=$1.50+$0.10

Total cost per product=$1.60

Inconclusion if a company would like to produce 5000 products per week for 30 weeks. The Direct Material Cost for the raw materials used in the product is $1.50 per product. The Total Cost Per Product is $1.60.

Learn more here:

https://brainly.com/question/24373570

Our company is growing fast, which always means changes and innovations. Because of this growth, the accounting department will be restructured. For the last five years, Paolo has served as chief manager with grace and dedication. However, because of the restructuring, Paolo’s position will no longer be needed. He will be working in the marketing department on the third floor, starting next Tuesday.In this message, the organizational pattern is used.Outlines give you a chance to organize your thinking before determining word choice and sentence structure. Which of the following will help you create a more effective outline?Avoid illustrations when supporting subpointsCombine subpoints whenever possiblePut the main idea in the titleUse one subpoint per main ideaUse evidence to support subpointsInclude 3 to 5 major components

Answers

Complete question

(1) ...In this message, the___organizatipn pattern is used.

(2)  Which of the following will help youcreate a more effective outline?Check all that apply.

a) Put the main idea in the title,

b) Use one sub-point per main idea,

c) Use evidence to support sub-points,

d) Include 3 to 5 major components,

e) Combine subpoints whenever possible,

f) Avoid illustrations when supporting subpoints

Answer:

1. indirect organizational pattern

2. a, c, d

Explanation:

1. Since the nagative information was placed at the end of the message it follows an Indirect message pattern inorder to minimise negative feelings by the listeners.

2.  A more effective outline is created when the main idea of the message is placed in the title, while also using supporting evidence to discuss the sub-points. And finally limiting the use of illustrations when supporting subpoints.

Brian and Kim have a 12-year-old child, Stan. For 2019, Brian and Kim have taxable income of $52,000, and Stan has interest income of $4,500. Click here to access the income tax rate schedules. If Stan's parents elected to report Stan's income on his parents' return, what would the tax on Stan's income be?

Answers

Answer:

The answer is $393

Explanation:

Solution

In this case, we will find the tax on Stan's income which is stated below:

Stan's adjusted gross income = 4500

The standardized deduction = 1050

The unearned taxable income = 3450

With ordinary rate, the less statutory deduction is = 1050

The taxable income that is subject to his parent's rate = 2400

The tax with ordinary rate = (1050 * 10%) =105

The Tax with parent's rate is = (2400 * 12%) = 288

Hence,

The tax on Stan's income would be = 105 + 288 = $393

Note: Kindly find an attached copy of the Tax rate schedules as part of the question to this solution

Hewlett-Packard introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad2. HP Tablet sales were very disappointing, and Hewlett-Packard eventually killed the product. According to the text, the primary reason for the HP Tablet’s failure was due in large part to:_____

a. poor product quality
b. not satisfying customer needs on critical factors.
c. an insignifanct point of difference
d. bad timing

Answers

Answer:

d. bad timing

Explanation:

Remember the principle of first entry advantage which says that the first entrant to a market has better advantage of gaining more market share over late entrants.

This was true in the Tablet market which saw Apple's iPad been the very first commercially sold tablet devices. Because of wrong/late timing when Apple introduced its next-generation iPad2 the HP tablet came in struggling to get a part of the already captured tablet market by Apple's iPad.

Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $3,570, the cost of ending work in process inventory was $2,860, and the cost added to production was $43,120. Required: Prepare a cost reconciliation report for the Baking Department for JuneBanking DeparmentBost ReconciliationCosts to be accounted forBlank blank blank amountBlank blank blank amountTotal costs to be accounted forCosts accounted for as followsBlank blank blank amountBlank blank blank amountTotal cost accounted for

Answers

Answer:

Explanation:

The following information can be derived from the question above:

The cost of the beginning work in the process inventory = $3,570

The cost of the ending work in the process inventory = $2,860

The cost that is added to the production = $43,120.

In the attached document, it should be noted that the cost of goods that were transferred out was calculated as:

The total cost to be accounted for minus the cost of the ending work in the process inventory. This is:

= 46690 - 2860

= 43830

The cost reconciliation report for the Baking Department for June has been solved and attached.

Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $103 for the skirt:
Determining opportunity cost Juanita is decidin
Store Travel Time Each Way Price of a Skirt
(Minutes) (Dollars per skirt)
Local Department Store 15 103
Across Town 30 89
Neighboring City 60 63
Juanita makes $16 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $16 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling.
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store Opportunity Cost of Time Price of a Skirt Total Cost
(Dollars) (Dollars per skirt) (Dollars)
Local Department Store 103
Across Town 89
Neighboring City 63
Assume that Juanita takes opportunity costs and the price of the skirt into consideration when she shops. Juanita will minimize the cost of the skirt if she buys it from the:_________.

Answers

Answer:

Juanita should purchase the skirt at the store across town because the total economic cost will be lowest.

Explanation:

three options:

local store 15 minutes away and a price of $103across town 30 minutes away and a price of $89neighboring city 1 hour away and a price of $63

Juanita makes $16 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:

total economic cost:

local store = $103 + [1/4 hours x 2 (round trip) x $16] = $111across town = $89 + [1/2 hours x 2 (round trip) x $16] = $105neighboring city = $63 + [1 hour x 2 (round trip) x $16] = $95

Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($105)

Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.

Precious Metal Mining has $17 million in sales, its ROE is 13%, and its total assets turnover is 4x. Common equity on the firm’s balance sheet is 55% of its total assets. What is its net income? Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest cent. Do not round intermediate steps.

Answers

Answer:

net income = $303,875

Explanation:

total sales $17 million

return on equity (ROE) = 13% = net income / stockholders' equity

asset turnover = 4 = total sales / average total assets

common equity = 55% of assets

first we must determine average total assets:

average total assets = total sales / 4 = $17 million / 4 = $4.25 million

common equity = 55% x total assets = 55% x $4.25 million = $2,337,500

ROE = 13% = net income / $2,337,500

net income = 13% x $2,337,500 = $303,875

This year Barney purchased 500 shares of Bell common stock for $20 per share. At year-end the Bell shares were only worth $2 per share. What amount can Barney deduct as a loss this year

Answers

Answer:

Barney is not entitled to a loss deduction.

Explanation:

Barney is not qualified for a loss deduction. Barney cannot have any realization because the stock has not been sold or become worthless. If Barney's stock becomes worthless then generally he may deduct its tax basis in the stock as a worthless stock loss for the year in which the stock becomes worthless.

Kenzie is a research scientist in Tallahassee, Florida. Her spouse Gary stays home to take care of their house and two dogs. Kenzie's total wages for 2019 were $60,500 from which $5,900 of federal income tax was withheld. ​ Calculate the income tax due or income tax refund on Kenzie and Gary's 2019 individual income tax return. Use the tax formula for individuals and show your work.

Answers

Answer:

tax due 1,848 (presenting head of household)

Explanation:

They will use Head of household

As Gary do not work and this will report the better tax-burden for them

Tax bracket table for the year ended December 31th 2019

10%   $         0 to $13,850

12%   $13,851 to $52,850

22%   $52,851 to $84,200

13.850 x 10% = 1,385

(52,850 - 13,850) x 12% = 4,680

(60,500 - 52,850) x 22% = 1,683

Total tax:  7.748

tax due 7,748 - 5,900 = 1,848

1. Identify each account as asset (A), liability (L), or equity (E).2. Identify whether the account is increased with a debit (DR) or credit (CR).3. Identify whether the normal balance is a debit (DR) or credit (CR).a. Interest Revenueb. Accounts Payablec. Common Stockd. Office Suppliese. Advertising Expensef. Unearned Revenueg. Prepaid Renth. Utilities Expensei. Dividendsj. Service Revenue Requirements

Answers

Answer: Please refer to Explanation

Explanation:

.a. Interest Revenue. This is EQUITY. It increase with a CREDIT. Normal Balance is CREDIT.

Interests Revenue is earned like revenue and as such is credited. In the balance sheet it will be with Equity as it increases the Retained Earnings of a firm.

b. Accounts Payable. LIABILITY.

Increases by CREDIT.

Normal Balance is CREDIT.

Accounts Payable are the result of buying goods on account meaning the firm owes the entities in question. It is credited to show an increase.

c. Common Stock. EQUITY.

Increases by CREDIT.

Normal Balance is CREDIT.

As a Capital balance, common stock is credited to show and increase and debited to show a decrease because it signifies that the business owes the holders/owners.

d. Office Supplies. ASSET

Increase by DEBIT.

Normal Balance is CREDIT.

As an asset, Office Supplies is recorded in the debit section and is debited to show increase.

e. Advertising Expense. EQUITY.

Increases by DEBIT.

Normal Balance is DEBIT.

Increases by DEBIT.

Advertising as an expense is taken from the Revenue. This makes it am Equity item. When it is debited, it increases and this normal Balance reflects a debit balance.

f. Unearned Revenue. LIABILITY.

INcrease is CREDITED

Normal Balance is CREDIT.

Unearned Revenue is a liability because the company owes performance to an entity for work that they have already been paid for. As such it's balance is increased by a Credit.

g. Prepaid Rent. ASSET.

Increase by DEBIT.

Normal Balance is DEBIT.

Prepaid rent means that the company paid for rent in advance and so it owed till the rent can be apportioned to a particular period. For this reason it is an asset and increases by DEBIT.

h. Utilities Expense. EQUITY.

Increases by DEBIT.

Nomal Balance is DEBIT.

As an expense that goes from the revenue it is an equity item and increases by debit. Normal Balance is also debit.

i. Dividends. EQUITY.

Increases by DEBIT.

Normal Balance is DEBIT.

Dividends are paid from Retained Earnings and as such belong in the Equity section. Dividends increase by being debited.

j. Service Revenue. EQUITY.

Increase by CREDIT.

Normal Balance is CREDIT.

As Revenue for the business it belongs in the EQUITY section. It is added to retained earnings and as it is revenue, it increases when it is credited.

Karim Corp. requires a minimum $8,000 cash balance. Loans taken to meet this requirement cost 1% interest per month (paid monthly). Any excess cash is used to repay loans at month-end. The cash balance on July 1 is $8,400, and the company has no outstanding loans. Forecasted cash receipts (other than for loans received) and forecasted cash payments (other than for loan or interest payments) follow.

July August September
Cash receipts $20,000 $26,000 $40,000
Cash payments 28,000 30,000 22,000

Required:
Prepare a cash budget for July, August, and September.

Answers

Answer:

                                           Karim Corp

                                          Cash Budget

                                                 July              August         September

Cash inflows:                         $20,000      $26,000         $40,000                   

Cash outflows:                     ($28,000)    ($30,000)       ($22,000)

Monthly cash flow:                ($8,000)       ($4,000)          $18,000          

Monthly interests:                           $0             ($76)          ($116.76)

Initial cash balance:                $8,400       $8,000         $8,000

Ending cash balance:                $400          $3,924       $25,883.24

Required bank loan:               $7,600          $4,076                   $0

Payment of bank loan:                  $0                 $0          ($11,676)

Total                                         $8,000         $8,000       $14,207.24           

Explanation:

A cash budget is the estimation of the business's future cash flows including estimated revenues and expenses.

On August 2, 2018, Wendy purchased a new office building for $3,800,000. On October 1, 2018, she began to rent out office space in the building. On July 15, 2022, Wendy sold the office building. If required, round your answers to the nearest dollar.
a. What MACRS convention applies to the new office building?
b. What is the life of the asset for MACRS?
c. Wendy's cost recovery deduction for 2018 is $_________ and for 2022 is ____________$ .

Answers

Answer:

a. Mild Month MACRS convention applies to the new office building

b. The life of the asset under MACRS is 39 years

c. The cost recovery deduction for 2018 is $20,330

The cost recovery deduction for 2022 is $52,776

Explanation:

a. According to the given data Mild Month MACRS convention is applicable here because real property is placed in service in the middle of the month in which acquired.

b. The life of the asset under MACRS is 39 years

c. cost recovery deduction for 2018= $3,800,000*0.535%

cost recovery deduction for 2018=$20,330

cost recovery deduction for 2022= $3,800,000*2.564%

cost recovery deduction for 2022= $52,776

Crane Company sells its product for $60 per unit. During 2019, it produced 48000 units and sold 40000 units (there was no beginning inventory). Costs per unit are: direct materials $15, direct labor $9, and variable overhead $3. Fixed costs are: $576000 manufacturing overhead, and $72000 selling and administrative expenses. Under absorption costing, what amount of fixed overhead is deferred to a future period?

Answers

Answer:

$96,000

Explanation:

The computation of the amount of  fixed overhead is deferred to a future period is shown below:

= Unsold units × fixed overhead cost per unit

= 8,000 units × ($576,000 ÷ 48,000 units)

= 8,000 units × $12

= $96,000

The unsold units is

= Produced units - sold units

= 48,000 units - 40,000 units

= 8,000 units

By multiplying the unsold units with the fixed overhead cost per unit  we can get the amount of fixed overhead deferred for a future period and the same is to be considered

The Colson Company issued $407,000 of 9% bonds on January 1, 2014. The bonds are due January 1, 2020, with interest payable each July 1 and January 1. The bonds are issued at face value.
Prepare Colson’s journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.

Answers

Answer:

Dr cash    $407,000

Cr bonds payable       $407,000

July 1

Dr interest expense   $ 18,315.00  

Cr cash                                              $ 18,315.00  

December 31

Dr interest expense   $ 18,315.00  

Cr interest payable                                          $ 18,315.00  

Explanation:

The bond was issued at face value of $407,000 which means that cash of $407,000 was received which is to be debited to cash account and bonds payable account credited for the same amount.

On July1 ,interest coupon of  $ 18,315.00   ($407,000*8%*6/12) was paid which means that interest expense is debited with $ 18,315.00   while cash is credited.

On 31 December ,interest coupon of  $ 18,315.00   ($407,000*8%*6/12) was due  which means that interest expense is debited with $ 18,315.00   while interest payable is credited.

Brett has almond​ orchards, but he is sick of almonds and prefers to eat walnuts instead. The owner of the walnut orchard next door has offered to swap this​ year's crop with him. Assume he produces 1,000 tons of almonds and his neighbor produces 800 tons of walnuts. If the market price of almonds is $100 per ton and the market price of walnuts is $110 per​ ton.
A. Should he make the​ exchange? The market value of the almond crop is _____.
B. Does it matter whether he prefers almonds or​ walnuts? Why or why​ not?

Answers

Answer:

(A) The almond market value is = 100,000 and the walnuts market value is 88,800. (B) His preferences are secondary, the most important choice is the market value of the profit and crop

Explanation:

Solution

Given that:

The first step to take is to find the almond crop market value which is stated as follows:

(A) The market value of almond is = 1000 * 100 = 100,000

Thus,

The walnuts market value is = 800* 111 = 88,800

he should not make the exchange because, the almond has more value

(B)His choice is not really important, the market value of the profit and crop should be of more importance.

A bond was issued three years ago at a price of $1,050 with a maturity of six years, a yield-to-maturity (YTM) of 6.50% compounded semi-annually, and a face value of $1,000 with semi-annualy coupons. What is the price of this bond today immediately after the receipt of today's coupon if the YTM has risen to 7.75% compounded semi-annually

Answers

Answer:

$967.20

Explanation:

the YTM formula = {coupon + [(face value - present value)/time]} / [(face value + present value)/2]

to determine the coupon rate we fill the equation with the known factors:

0.065 = {coupon + [(1,000 - 1,050)/12]} / [(1,000 + 1,050)/2]

0.065 = (coupon - 41.67) / 1,025

66.625 = coupon - 4.167

coupon = 66.625 + 4.167 = $70.792  

three years later, the YTM = 7.5%, what is the PV? Again we use the YTM formula:

0.0775 = {70.792 + [(1,000 - x)/6]} / [(1,000 + x)/2]

0.0775(500 + 0.5x) = 70.792 + 166.67 - 0.1667x

38.75 + 0.03875x = 237.462 - 0.1667x

0.20545x = 198.712

x = 198.712 / .20545

x = $967.20

In January 2020, the management of Sheridan Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred.

Feb. 1 Purchased 500 shares of Muninger common stock for $27,500.
Mar. 1 Purchased 700 shares of Tatman common stock for $17,500.
Apr. 1 Purchased 40 $1,050, 6% Yoakem bonds for $42,000. Interest is payable semiannually on April 1 and October 1.
July 1 Received a cash dividend of $0.50 per share on the Muninger common stock.
Aug. 1 Sold 167 shares of Muninger common stock at $65 per share.
Sept.1 Received a $1 per share cash dividend on the Tatman common stock.
Oct. 1 Received the semiannual interest on the Yoakem bonds.
Oct. 1 Sold the Yoakem bonds for $41,000.

Required:
At December 31, the fair value of the Muninger common stock was $56 per share. The fair value of the Tatman common stock was $24 per share. Prepare the adjusting entry at December 31, 2020, to report the investment securities at fair value. All securities are considered to be trading securities.

Answers

Answer:

Sheridan Company

Adjusting Entries for reporting fair values of investments:

December 31, 2020:

Debit Investment in Muninger $333

Credit Unrealized Gains on Investment $333

To record the fair value of common stock investment.

Debit Unrealized Loss on Investment $700

Credit Investment in Tatman $700

To record the fair value of common stock investment.

Explanation:

a) Feb. 1, Muniger Common Stock  500 shares at $55  for $27,500

August 1, Sold                                  167 shares at $65 for  $10,855

December 31 Remaining at fair value, 333 shares at $56 for $18,648

Fair Value Gain = $1 x 333 shares = $333

b) Tatman Common Stock  700 shares for $17,500

March 1, Common Stock 700 shares at $25 for $17,500

December 31, Remaining at fair value, 700 shares at $24 for $16,800

Fair Value Loss = $1 x 700 = $700

c) Trading Investments are held for short-term purposes to take advantage of dividends and changes in the market price of the investments.  These securities are accounted for at fair value.  The requirement is that at the end of the accounting period, the fair value is determined and used to value the investment.  Unrealized Gains or Losses are recorded, depending on their fair values.  The gains or losses become realized when the investments are sold.

Problem 15-12 Below is a list of prices for zero-coupon bonds of various maturities. Maturity (Years) Price of $1,000 Par Bond (Zero-Coupon) 1 $ 974.85 2 882.39 3 847.70 a. A 5.6% coupon $1,000 par bond pays an annual coupon and will mature in 3 years. What should the yield to maturity on the bond be? (Round your answer to 2 decimal places.) b. If at the end of the first year the yield curve flattens out at 6.5%, what will be the 1-year holding-period return on the coupon bond? (Round your answer to 2 decimal places.)

Answers

Answer:

a. 5.63%

b. 5.72%

Explanation:

to calculate YTM of zero coupon bonds:

YTM = [(face value / market value)¹/ⁿ] - 1

YTM₁ =  [(1,000 / 974.85)¹/ⁿ] - 1 = 2.58%YTM₂ =  [(1,000 / 882.39)¹/ⁿ] - 1 = 6.46%YTM₃ =  [(1,000 / 847.70)¹/ⁿ] - 1 = 5.66%

a. A 5.6% coupon $1,000 par bond pays an annual coupon and will mature in 3 years. What should the yield to maturity on the bond be?

the bond's current market price:

$1,000 / 1.0566³ = $847.75$56/1.0258 + 56/1.0646² + 56/1.0566³ = $54.59 + $49.41 + $47.47 = $151.47current market price = $999.22

YTM = [C + (FV - PV)/n] / [(FV + PV)/2] = [56 + (1,000 - 999.22)/3] / [(1,000 + 999.22)/2] = (56 + 0.26) / 999.61 = 5.63%

b. If at the end of the first year the yield curve flattens out at 6.5%, what will be the 1-year holding-period return on the coupon bond?

the bond's current market price:

$1,000 / 1.065³ = $827.85$56/1.0258 + 56/1.065² + 56/1.065³ = $54.59 + $49.37 + $46.36 = $150.32current market price = $978.17

you invest $978.17 in purchasing the bond and you receive a coupon of $56, holding period return = $56 / $978.17 = 5.72%

Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use. Calculate Kevin's cost of goods sold for the year.?

Answers

Answer:

COGS= $598,020

Explanation:

Giving the following information:

Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.

We need to deduct the inventory used for personal use.

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 67,000 + 610,000 - 77,200 - 1,780

COGS= $598,020

Assume you are the president of Nuclear Company. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable$33,000 Accounts Receivable 59,950 Cash 13,500 Common Stock 63,030 Dividends 230 Equipment 32,000 Notes Payable 1,500 Operating Expenses 61,700 Other Expenses 9,000 Sales Revenue 87,300 Supplies 8,450 Prepare a statement of retained earnings for the year ended December 31.

Answers

Answer:

Ending retained earnings is     $ 16,370.00  

Explanation:

Before preparing the statement of retained earnings for the year ended December 31, the net income for the current year needs to be ascertained.

net income=sales revenue-operating expenses-other expenses

net income=$87,300-$61,700-$9000=$ 16,600.00  

Statement of Retained earnings for the year ended 31 December:

Beginning retained earnings     $0

net income                                  $16,600

dividends                                    ($230)

ending retained earnings         $ 16,370.00  

   

Among the 1,000 policyholders of the auto insurance company, 400 are classified as low-risk drivers and 600 are classified as high-risk drivers. In each month, the probability of zero accidents for high-risk drivers is 0.80 and the probability of zero accidents for low-risk drivers is 0.90. Calculate the expected bonus payment from the insurer to the 1000 policy

Answers

Answer:

50,400

Explanation:

We are required to

Calculate the expected bonus payment from the insurer to the 1000 policyholders in one year:

X = case of 0 accident

E[X] = 400 x P(X | low risk) + 600 x P (X | high risk)

= (400 x 0.9) + (600 x 0.8)

= 840

Expected bonus = 840 x 5 dollars x 12 months

= 50400

Purpose of Assignment The purpose of this assignment is for students to employ capital budgeting techniques using time value of money concepts to determine the acceptability of large dollar value assets. Assignment Steps Scenario: A firm has projected free cash flows of $575,000 for Year 1, $625,000 for Year 2, and 650,000 for Year 3, $725,000 for Year 4, and 850,000 for Year 5. The projected terminal value at the end of Year 5 is $6,000,000. The firm's Weighted Average cost of Capital (WACC) is 12.5%. Create a Microsoft® Excel® document to determine the Discounted Cash Flow (DCF) value of the firm based on the information provided above. Recommend acceptance of this project using net present value criteria using a Microsoft® Word® document. Include up to what level of initial investment you would accept the project? Why? Give a complete explanation of up to 350 words. Display your calculations. Coursehero

Answers

Answer:

Present Value 5,715,331.32

We are going to accept the project only if the initial investment is at 5,715,331 or below in order to achieve the return to support the cost of capital structure of the company

Accepting a project with a higher cost will not generate enought cashflow to sustain the patyment of debt and the return expected from the stockholders therefore, will generate a economic result and investor will leave the company for other which can sustain their desired return.

Explanation:

We are going to discount the yearly cash-flow at the given rate of 12.50%

then, the terminal value which is the present value of the future period will also be discounted at this rate.

The sum of all this will be the present value of the firm.

[tex]\left[\begin{array}{ccc}$Year&$Cash Flow&$Discounted\\1&575000&511111.11\\2&625000&493827.16\\3&650000&456515.77\\4&725000&452613.93\\5&850000&471689.61\\$terminal&6000000&3329573.74\\Present&Value&5715331.32\\\end{array}\right][/tex]

The formula we use the present value of a lump sum:

[tex]\frac{Maturity}{(1 + rate)^{time} } = PV[/tex]

We are going to accept the project only if the initial investment is at 5,715,331 or below in order to achieve the return to support the cost of capital estructure of the company

Lolita, a Mexican business woman, came to Redmond Washington to negotiate a business deal with Microsoft. Lolita, assuming business was formal, dressed in a formal suit, nylons, and high heels. She met with the Vice President of Worldwide Sales at Microsoft, Kevin Johnson, and greeted him with, "Good morning Vice President Johnson." Kevin was dressed in jeans and sneakers and addressed Lolita with, "Hello Lolita, nice to finally meet you in person." Lolita was offended by this greeting. This example illustrates which assumption about intercultural communication?

Answers

Answer:

b) all of these are true.

Explanation:

The scenario described in the question illustrates differences in communication rules that suffer from different cultural influences, this is what we perceive when Mexican Lolita may have been surprised that the American Kevin Johnson communicated with her in a more informal way at a formal work meeting. , and therefore felt offended, as he took into account the type of cultural communication in his country of origin, disregarding the intercultural differences in communication that occur in different countries.

So the ideal is that in a case like the one described in the question, where there are negotiations for business deal with international companies, employees are prepared to relate professionally with different types of people, observing the type of communication context, understanding that there are differences intercultural experiences that imply in the way people relate to each other even in the work environment, and above all, maintain ethics and respect for each and every culture different from yours.

"Donald is a 21-year-old full-time college student. During 2019, he earned $2,550 from a part-time job and $1,150 in interest income. If Donald is a dependent of his parents, what is his standard deduction amount

Answers

Answer:

His standard deduction amount would be of $ 2,900

Explanation:

In order to calculate his standard deducion amount If Donald is a dependent of his parents we would have to make the following calculation:

Since His earned income is more than $1,150, therefore, Standard Deduction would be= $2,550 + $350

Standard Deduction would be= $2,900

Therefore, If Donald is a dependent of his parents, his standard deduction amount would be of $ 2,900

Other Questions
The document of sita ram was it trustworthy Jeff is designing the seating arrangement for a concert in his high school theater. To give everyone a good view, each row must have 5 more seats than the row before it, and the 1st row can only have 12 seats. Help Jeff plan the rest of the seating by solving for how many seats are in row 25. Then explain to Jeff how to create an equation to predict the number of seats in any row. Show your work, and use complete sentences. The substances nitrogen monoxide and hydrogen gas react to form nitrogen gas and water. Unbalanced equation: NO (g) + H2 (g) N2 (g) + H2O (l) In one reaction, 76.2 g of H2O is produced. What amount (in mol) of H2 was consumed? What mass (in grams) of N2 is produced? help also I did some of it just not 3 and 4 and 6which is 2.5 __=80,1__=32,3__=96 1. In 214 BC, Archimedes invented a large spherical-type mirror used to focus the sun's intense rays onto far away enemy boats, which would eventually light them on fire. If the boats were travelling in a nearby channel approximately 1,000 m from the river bank, what would the radius of curvature of his mirror need to be? Show your work. the two-way table shows the attendant careers among the incoming class of first-year college students, divided by gender. If a female student is chosen at random, what is the probability that she intends to be a research scientist? The Pythagorean theorem, also known as the pythagoras theorem, is a fundamental relation in the geometry among the three sides of a right triangle. What does Pythagoras theorem states about the area of the square of the hypotenuse and the area of the squares on the other two legs What weakened the Iroquois confederacy in the eighteenth century? Find the measurement of yA-129B-130C-145D-134 A. -1B. 1 C. UndefinedD. 0 Find the measure of angle X in the figure below Choices: 35, 47, 73, 78 What is the square root of -1? How do the percentages in 2000 compare to those in1960?The difference between the groups increased andthen decreased.The difference between the two groups was thesame in 2000 as 1960.There is more of a difference between the twogroups in 2000 than in 1960.There is less of a difference between the twogroups in 2000 than in 1960.ITS D How many atoms or molecules are in 5.0 moles of the following?a. Ob. Nc.MgCld. CHNO Accounting Cycle Review 15 a-eCullumber Corporations trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.DebitCreditCash$26,100Accounts Receivable60,000Inventory23,300Land67,200Buildings81,700Equipment41,000Allowance for Doubtful Accounts$470Accumulated DepreciationBuildings25,500Accumulated DepreciationEquipment14,200Accounts Payable19,500Interest Payable0Dividends Payable0Unearned Rent Revenue7,200Bonds Payable (10%)44,000Common Stock ($10 par)28,000Paid-in Capital in Excess of ParCommon Stock5,600Preferred Stock ($20 par)0Paid-in Capital in Excess of ParPreferred Stock0Retained Earnings65,330Treasury Stock0Cash Dividends0Sales Revenue570,000Rent Revenue0Bad Debt Expense0Interest Expense0Cost of Goods Sold380,000Depreciation Expense0Other Operating Expenses36,900Salaries and Wages Expense63,600 Total$779,800$779,800Unrecorded transactions and adjustments:1.On January 1, 2020, Cullumber issued 1,000 shares of $20 par, 6% preferred stock for $23,000.2.On January 1, 2020, Cullumber also issued 1,000 shares of common stock for $24,000.3.Cullumber reacquired 260 shares of its common stock on July 1, 2020, for $46 per share.4.On December 31, 2020, Cullumber declared the annual cash dividend on the preferred stock and a $1.30 per share dividend on the outstanding common stock, all payable on January 15, 2021.5.Cullumber estimates that uncollectible accounts receivable at year-end is $6,000.6.The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,200.7.The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,100.8.The unearned rent was collected on October 1, 2020. It was receipt of 4 months rent in advance (October 1, 2020 through January 31, 2021).9.The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.(Ignore income taxes.) Somebody please help! And show your work! Annual Percentage Rate (APR), credit limit, and penaltiesand fees are important to consider whenLooking at yourcredit scoreChoosing a financial advisoroChoosing a credit cardSelecting a financial institution drawing is a form of please hurry Ill make brainiest A ball is tossed into the air from a height of 6 feet above ground level,with a velocity of 3.4 feet per second. Which function could be used tomodel the height of the ball, after t seconds? Work out the value of x