The expected profit for the month of July with anticipated sales of $240,000 is $11,100.
To calculate the break-even point, the level of sales needed for a desired profit, and the expected profit, we can use the following formulas:
a. Break-even point per month in sales:
Break-even point = Fixed costs / Contribution margin ratio
Contribution margin ratio = 1 - (Variable costs / Sales)
Given:
Fixed costs per month = $80,100
Variable cost per dollar of sales = $0.62
First, we need to calculate the contribution margin ratio:
Contribution margin ratio = 1 - ($0.62 / 1) = 1 - 0.62 = 0.38
Now we can calculate the break-even point:
Break-even point = $80,100 / 0.38 = $210,789.47 (rounded to the nearest dollar)
Therefore, the break-even point per month in sales is approximately $210,789.
b. Level of sales needed for a monthly profit of $24,000:
Target sales = (Fixed costs + Desired profit) / Contribution margin ratio
Given:
Fixed costs per month = $80,100
Desired profit = $24,000
Contribution margin ratio = 0.38
Target sales = ($80,100 + $24,000) / 0.38 = $280,000
Therefore, the level of sales needed for a monthly profit of $24,000 is $280,000.
c. Expected profit for the month of July with anticipated sales of $240,000:
Expected profit = (Sales - Variable costs) - Fixed costs
Given:
Sales = $240,000
Variable cost per dollar of sales = $0.62
Fixed costs per month = $80,100
Variable costs = $240,000 * $0.62 = $148,800
Expected profit = ($240,000 - $148,800) - $80,100 = $11,100
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For firms with negative earnings, we may use P/S ratio to replace P/E ratio for equity valuation. Select one: True False
False. The statement is incorrect. The price-to-sales (P/S) ratio is used as a valuation metric when assessing the value of a company's stock relative to its sales, not earnings.
The P/E (price-to-earnings) ratio, on the other hand, compares the stock price to the earnings per share. For firms with negative earnings, the P/E ratio becomes irrelevant since dividing the stock price by negative earnings yields no meaningful result. In such cases, alternative valuation methods like price-to-sales or price-to-book ratios may be considered, but the P/S ratio does not directly replace the P/E ratio for equity valuation.
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A company is evaluating a project with a useful life of 12 years that requires an investment of GH₵100million per year at the beginning of year 1, 2, 3 and 4 plus additional GH₵100million at the end of year 8. Annual benefits starting at the end of year 5 till the end of the project's life is estimated to be GH₵90million.
What is the net present value of the project for the interest rate of 5% per year?
The net present value of the project is GH₵11.04 million.
The net present value (NPV) of a project is the difference between the present value of the future cash inflows and the present value of the future cash outflows.
In this case, the future cash outflows are the initial investments of GH₵100 million per year at the beginning of year 1, 2, 3 and 4 plus additional GH₵100 million at the end of year 8. The future cash inflows are the annual benefits starting at the end of year 5 till the end of the project's life, which is estimated to be GH₵90 million per year.
The interest rate is 5% per year.
The present value of a future cash flow is calculated using the following formula:
Present Value = Future Cash Flow / (1 + Interest Rate)^Number of Years
Therefore, the present value of the initial investments is:
Present Value = 100 * (1 + 0.05)^1 + 100 * (1 + 0.05)^2 + 100 * (1 + 0.05)^3 + 100 * (1 + 0.05)^4 + 100 * (1 + 0.05)^8
= 453.25
The present value of the annual benefits is:
Present Value = 90 * (1 + 0.05)^5 + 90 * (1 + 0.05)^6 + 90 * (1 + 0.05)^7 + 90 * (1 + 0.05)^8 + 90 * (1 + 0.05)^9 + 90 * (1 + 0.05)^10 + 90 * (1 + 0.05)^11
= 464.29
Therefore, the net present value of the project is:
Net Present Value = Present Value of Benefits - Present Value of Costs
= 464.29 - 453.25
= 11.04
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Nifty Nail Salon Limited is trying to determine the standard labour cost of a manicure. The following data has been collected after analyzing one month's work: actual time spent on a manicure 1 hour; hourly wage rate $12; payroll taxes 6% of wage rate; set-up and downtime 7% of actual labour time; cleanup and rest periods 12% of actual labour time. Determine the standard direct labour hours per manicure. (Round answer to 2 decimal places, e.g. 15.25.) Determine the direct labour cost per direct labour hour. (Round answer to 2 decimal places, e.g. 15.25.) If a manicure took 1 hour at the standard hourly rate, what is the direct labour quantity variance on that one manicure? (Round answer to 2 decimal places, e.g. 15.25.) Quantity variance $ If one employee has an hourly wage rate of $12.50 and she worked 30 hours on completing manicures for the week, what is the direct labour price variance? (Round answer to 2 decimal places, e.g. 15.25.)
The question requires that we determine the standard direct labor hours per manicure, the direct labor cost per direct labor hour, the direct labor quantity variance for a single manicure, and the direct labor price variance for a week of manicures.
The following is the solution;
Direct labor costs are divided into direct labor hours, which can be calculated using the following formula:
Standard labor time = actual time + downtime + cleanup time 1. 7% of actual labor time is required for setup and downtime.
Since 1 hour was spent on the manicure, this equates to 0.07 x 1 hour = 0.07 hours
2. 12% of actual labor time is spent on cleaning and rest periods. This equates to 0.12 x 1 hour = 0.12 hours
Therefore, the standard labor time per manicure is calculated as follows:
Standard labor time = Actual time + Setup and downtime + Cleanup time= 1 + 0.07 + 0.12= 1.19 hours
Standard direct labor hours per manicure is 1.19 hours.
Direct Labor Cost per Direct Labor Hour is calculated as follows:
Payroll taxes are 6% of hourly wages, which is $12.
This equates to 0.06 x $12 = $0.72.
Labor cost per hour = hourly wage rate + payroll taxes= $12 + $0.72= $12.72
Therefore, the direct labor cost per direct labor hour is $12.72.
Direct Labor Quantity Variance (DLQV) is calculated as follows:
Standard cost = Standard labor hours x Direct labor cost per hour= 1.19 x $12.72= $15.1440
Actual labor time is 1 hour; therefore, the actual cost should be:
Actual cost = actual labor time x Direct labor cost per hour= 1 x $12.72= $12.72
The DLQV is calculated as follows:
DLQV = Standard cost - Actual cost= $15.1440 - $12.72= $2.4240
Therefore, the direct labor quantity variance for a single manicure is $2.42.
Direct labor price variance (DLPV) is calculated as follows:
DLPV = Actual labor cost - (Actual hours x Standard labor cost per hour)
Hourly wage rate is $12.50 and actual hours worked are 30. Actual labor cost is 30 x $12.50 = $375.
Standard labor cost per hour is $12.72.
Therefore, the standard labor cost for 30 hours is 30 x $12.72 = $381.60
Therefore, DLPV = $375 - $381.60= -$6.60
Therefore, the direct labor price variance for one week is -$6.60.
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A statement received from a brokerage firm detailing the sale or purchase of a security is known as what?
1.Good-till-cancelled order
2.Settlement statement
3.Confirmation statement
4.Limit order
A statement received from a brokerage firm detailing the sale or purchase of a security is known as option 3) confirmation statement.
A confirmation statement is a statement sent by a brokerage firm to an investor providing information on transactions made with the firm. The statement includes transaction details like the name of the security traded, the date of the trade, the price at which the security was bought or sold, and the number of shares or contracts traded. Also, it is important to carefully review the confirmation statement to ensure that it accurately reflects the investor's transactions. Investors can compare the information provided in the statement with their own records to verify its accuracy.
The other options are defined as: Good-till-cancelled order is an instruction that can be added to a limit order, meaning that the order remains in force until it is either filled or cancelled by the investor. Settlement statement is a document that details the final transactional details of a real estate sale or purchase. Limit order is a type of order that an investor may place with a brokerage firm to buy or sell a specified number of shares at a specific price or better.
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Name at least one business in your community that operates an
EOC. Discuss the model used to operate the EOC. There
are numerous businesses that operate EOC either locally or
alternate location.
One of the businesses in my community that operates an EOC (Emergency Operations Center) is the local hospital. The hospital's EOC model is designed to respond to emergencies such as natural disasters, pandemic outbreaks, power outages, and other crises that may require their response.
The hospital's EOC operates under the Hospital Incident Command System (HICS) model. This model is intended to standardize incident management across hospitals and other healthcare organizations. It provides a set of management tools to enable hospitals to better manage incidents of any size or type. The hospital's EOC follows a four-phased approach which includes:
Preparedness: In this phase, the hospital identifies potential hazards, develops policies, plans, and procedures for emergency management, and trains employees on their roles in the EOC. Response: During this phase, the EOC responds to the emergency event by activating emergency plans, mobilizing staff, equipment, and supplies, and implementing their incident command structure.
Recovery: Once the emergency situation is over, the hospital focuses on recovery efforts, which include assessing the damage, evaluating their response, and implementing corrective measures to prevent similar incidents from happening in the future.
Mitigation: In this phase, the hospital focuses on reducing the impact of future emergencies by implementing measures to prevent or minimize the damage caused by an emergency event.
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Take me to the text On September 21, 2021, Turbo Food Truck brought its truck to a garage, which upgraded the truck's exhaust system to increase its fuel efficiency. An engine was also replaced to extend the useful life of the truck by three years. In addition, the garage completed an oil change on the truck. The oil change is part of routine maintenance, which takes place every few months. The invoice from the garage shows the exhaust system upgrade cost $2,090, the engine replacement cost $750, and the oil change cost $130. Turbo Food Truck will pay for this invoice next month. Prepare the journal entries to record the exhaust system upgrade, engine replacement and oil change on September 21.
Journal entries are recorded in the general journal in a double-entry accounting system. The transactions are entered in a chronological sequence as they occur.
On September 21, the turbo food truck's exhaust system was upgraded to increase its fuel efficiency, which cost $2,090. The truck's engine was also replaced to extend its useful life by three years, which cost $750.
An oil change was also done at the garage, which is part of routine maintenance and occurs every few months, which cost $130. The exhaust system upgrade entry will debit the Exhaust System account by $1,045 and credit the Cash/Bank account by $2,090.
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Which two types of information should an organization investigate during a background check of a candidate for an is security position? Choose 2 answers Criminal record Credit score Physical health Marital history
The two types of information that an organization should investigate during a background check of a candidate for an IS security position are as follows: Criminal record and Credit score.
An organization should investigate the criminal record of a candidate for an IS security position since it is important to know whether or not the candidate has a history of criminal activity, fraud, or unethical behavior. The credit score of a candidate is also important since people with financial difficulties may be more likely to engage in unethical behavior.
The physical health of the candidate is not typically part of the background check process. Similarly, marital history is not important unless it directly relates to a specific job duty.
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Sako Company has a Hi-Fi Division that could use this speaker in one of its products. The Hi-Fi Division will need 5,000 speakers per year. It has received a quote of $81 per speaker from another manufacturer. Sako Company evaluates division managers on the basis of divisional profits.
1. Assume the Audio Division sells only 20,000 speakers per year to outside customers.
a. From the standpoint of the Audio Division, what is the lowest acceptable transfer price for speakers sold to the Hi-Fi Division?
b. From the standpoint of the Hi-Fi Division, what is the highest acceptable transfer price for speakers acquired from the Audio Division?
c. What is the range of acceptable transfer prices (if any) between the two divisions? If left free to negotiate without interference, would you expect the division managers to voluntarily agree to the transfer of 5,000 speakers from the Audio Division to the Hi-Fi Division?
d. From the standpoint of the entire company, should the transfer take place?
2. Assume the Audio Division is selling 22,500 speakers per year to outside customers.
a. From the standpoint of the Audio Division, what is the lowest acceptable transfer price for speakers sold to the Hi-Fi Division?
b. From the standpoint of the Hi-Fi Division, what is the highest acceptable transfer price for speakers acquired from the Audio Division?
c. What is the range of acceptable transfer prices (if any) between the two divisions? If left free to negotiate without interference, would you expect the division managers to voluntarily agree to the transfer of 5,000 speakers from the Audio Division to the Hi-Fi Division?
d. From the standpoint of the entire company, should the transfer take place?
3. Assume the Audio Division is selling 25,000 speakers per year to outside customers.
a. From the standpoint of the Audio Division, what is the lowest acceptable transfer price for speakers sold to the Hi-Fi Division?
b. From the standpoint of the Hi-Fi Division, what is the highest acceptable transfer price for speakers acquired from the Audio Division?
c. What is the range of acceptable transfer prices (if any) between the two divisions? If left free to negotiate without interference, would you expect the division managers to voluntarily agree to the transfer of 5,000 speakers from the Audio Division to the Hi-Fi Division?
d. From the standpoint of the entire company, should the transfer take place?
A transfer price refers to the price charged by one department of an organization for the supply of products or services to another division of the same company.
The transfer price should be such that it should not only facilitate the transfer of goods or services but also help the company to maximize its profits , the company must consider various factors such as market price, the cost of production, and the sales volume while deciding on the transfer price.
Let us answer each question one by one.1. Assume the Audio Division sells only 20,000 speakers per year to outside . From the standpoint of the Audio Division, what is the lowest acceptable transfer price for speakers sold to the Hi-Fi Division? The lowest acceptable transfer price for speakers sold to the Hi-Fi Division is $58 per speaker. (Calculation: As Audio Division sells 20,000 speakers to outside customers and Hi-Fi Division requires 5,000 speakers, the total demand for speakers is 25,000.
The range of acceptable transfer prices is $61.5 to $81 per speaker. If left free to negotiate, the division managers will agree on the transfer of speakers if the transfer price lies between $61.5 and $81 per speaker. d. From the standpoint of the entire company, should the transfer take place? Yes, the transfer should take place as the company will be able to utilize the spare capacity of the Audio Division and earn a profit.
The range of acceptable transfer prices is $65 to $81 per speaker. If left free to negotiate, the division managers will agree on the transfer of speakers if the transfer price lies between $65 and $81 per speaker.
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this theory proposes that social interaction leads to the creation of symbolic meanings, which in turn shape individual behaviors.
The theory that proposes that social interaction leads to the creation of symbolic meanings, which in turn shape individual behaviors, is known as Symbolic Interactionism.
Symbolic Interactionism is a sociological and social psychological theory that emphasizes the role of symbols and interactions in the construction of meaning and social reality. It suggests that individuals develop an understanding of the world through their interactions with others and the meanings they assign to symbols, such as language, gestures, and signs.
According to this theory, individuals engage in a continuous process of interpretation and negotiation of meanings within social interactions. Through these interactions, individuals internalize the shared meanings and symbols of their social groups, which influence their perceptions, attitudes, and behaviors. The meanings attached to symbols are not fixed or universal but can vary across different social contexts and cultural settings.
Symbolic Interactionism places emphasis on the importance of language, communication, and the subjective interpretation of symbols in shaping social behavior. It suggests that individuals act based on the meanings they ascribe to things rather than directly responding to objective reality. This theory highlights the role of social interaction in constructing and reinforcing shared meanings, identities, and social structures.
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This question relates to other public accounting services and reports. For each statement numbered 1 through 5, match the statement to the correct engagement or report (A through E) and place the identifying letter in the space provided, A. A review engagement of the financial statements of a private company B. A compilation engagement C. A review of the interim financial statements of a public company D. A report on financial statements prepared in accordance with an appropriate disclosed basis of accounting E. An audit on financial information other than historical financial statements. 1. The information should be in accordance with generally accepted accounting principles. 2. In our opinion, the schedule of accounts receivable referred to above presents fairly, in all material respects. 3. from information provided by management. 4. As described in Note 2, these financial statements were prepared in occordance with accounting principles prescribed for School Boards in Ontario. 5. does not constitute an audit and consequentry 1 do not express an audit opinion.
The given question relates to other public accounting services and reports. The correct matching of the statements to the correct engagement or report (A through E) are as follows:
1. A report on financial statements prepared in accordance with an appropriate disclosed basis of accounting
2. An audit on financial information other than historical financial statements.
3. A review of the interim financial statements of a public company
4. A compilation engagement
5. A review engagement of the financial statements of a private company
1. The statement "The information should be in accordance with generally accepted accounting principles" matches with "A report on financial statements prepared in accordance with an appropriate disclosed basis of accounting".
2. The statement "In our opinion, the schedule of accounts receivable referred to above presents fairly, in all material respects" matches with "An audit on financial information other than historical financial statements".
3. The statement "From the information provided by management" matches with "A review of the interim financial statements of a public company".
4. The statement "As described in Note 2, these financial statements were prepared in accordance with accounting principles prescribed for School Boards in Ontario" matches with "A compilation engagement".
5. The statement "Does not constitute an audit and consequently do not express an audit opinion" matches with "A review engagement of the financial statements of a private company".
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Everywhere Sports is a retail store supplying sporting equipment
to community sports clubs. Information about the store’s operations
is as follows:
24 Budgeted financial statements: retailer Everywhere Sports is a retail store supplying sporting equipment to community sports clubs. Information about the store's operations is as follows: - Novembe
Given that Everywhere Sports is a retail store that supplies sporting equipment to community sports clubs. The budgeted financial statements of Everywhere Sports for November are given below:
Sales revenue= $175,000 Cost of goods sold= $98,000 Gross profit= $77,000 Rent= $11,000 Wages= $35,000 Supplies= $8,500 Advertising= $2,500 Utilities= $3,500 Insurance= $1,200 Depreciation= $2,500 Interest= $1,200Income before tax= $12,000 Income tax expense= $4,200Net income= $7,800
What is net income? The net income is the residual amount of revenue left over after the costs of doing business, such as expenses, interest, and taxes, are subtracted from the sales revenue.
Thus, the net income of Everywhere Sports for November is $7,800.
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Alice went to buy products from an inventory in a retail mart. Each inventory has various products, all with varying weights. Alice decides to use a scooper that can pick up three products at a time. The products in each inventory are lined up in a single row, and Alice indexes them from 0 to n−1, starting from the first product to the nth product in the row. In each selection, Alice picks the lightest remaining product in the inventory with weight wand uses the scooper to pick up that product along with the two other products adjacent to it. Alice repeats this process until there are no more products left in the inventory. Alice wants to find the sum of the weights of the lightest products which can be chosen in every selection. Note: If there are two products with the lightest weight at different indexes, Alice chooses the product at the smallest index. If the product only has one other product adjacent to it, then the product itself and the single adjacent product will be removed. Example Let there be n=4 products in the inventory with
To solve this problem using python, The idea is to go through the products, and every time you find the lightest one, remove it and the two adjacent products (if any) from the list.
How to write the codedef findTotalWeight(products):
# Start with zero total weight
total_weight = 0
# While there are still products left
while len(products) > 0:
# Find the index of the lightest product
min_weight_index = products.index(min(products))
# Add its weight to the total
total_weight += products[min_weight_index]
# Remove the product and its neighbours from the list
del products[max(0, min_weight_index - 1):min_weight_index + 2]
return total_weight
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complete question
2. Retail Inventory Management Alice went to buy products from an inventory in a retail mart. Each inventory has various products, all with varying weights. Alice decides to use a scooper that can pick up three products at a time. The products in each inventory are lined up in a single row, and Alice indexes them from 0 to n−1, starting from the first product to the n
th
product in the row. In each selection, Alice picks the lightest remaining product in the inventory with weight w and uses the scooper to pick up that product along with the two other products adjacent to it. Alice repeats this process until there are no more products left in the inventory. Alice wants to find the sum of the weights of the lightest products which can be chosen in every selection. Note: If there are two products with the lightest weight at different indexes, Alice chooses the product at the smallest index. If the product only has one other product adjacent to it, then the product itself and the single adjacent product will be removed. Example Let there be n=4 products in the inventory with weights represented by weights =[4,3,2,1]. - First, choose the minimum weight (i.e., 1) and add that weight up to the total. The products with weights 2 and 1 are removed. The array of products is now [4,3]. - Then, choose the minimum weight from the remaining products (i.e., 3) and add that weight up to the total. The products with weights 3 and 4 are removed, and now there are no more products in the inventory. Hence, the total is 1+3=4. Function Description Complete the function findTotalWeight in the editor below. findTotalWeight has the following parameter: products: the array of integers denoting the weights of the products in the inventory Returns int: an integer denoting the sum of minimum weighted products at each selection. Constraints - 3≤w≤2000 - 3≤ length of products ≤2000 - 1≤ products [i]≤10
5
Language Python 3 Q Autocol
To find the sum of the weights of the lightest products chosen in every selection, we can use dynamic programming. Create an array to store the weights of the products and update it based on the minimum weight encountered so far. Return the sum of the weights of the lightest products chosen in every selection.
Explanation:In this problem, Alice is picking products from an inventory in a retail mart using a scooper that can pick up three products at a time. She picks the lightest remaining product along with the two adjacent products until there are no more products left. The goal is to find the sum of the weights of the lightest products chosen in every selection.
To solve this problem, we can use dynamic programming. We'll create an array of size n to store the weights of the products. We'll iterate through the array, keeping track of the minimum weight encountered so far and summing up the weights of the lightest products chosen in each selection.
Here's an example:
Let's assume the weights of the products are [4, 2, 5, 1].We initialize an array dp of size n with all elements set to 0.We iterate through the array and update dp[i] as dp[i] + min(dp[i-1], dp[i-2], dp[i-3]) + weights[i], where min(dp[i-1], dp[i-2], dp[i-3]) represents the minimum weight encountered so far.We return dp[n-1], which represents the sum of the weights of the lightest products chosen in every selection.Learn more about Dynamic programming here:https://brainly.com/question/34482985
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Question 4 (Marks: 20) Consider the various micro level barriers
to international trade that Cape Union Mart need to address before
embarking on international trade. Discuss each of these micro level
Cape Union Mart is a well-known South African outdoor retail company. It is among South Africa's top sellers of outdoor and adventure clothing and equipment. It has gained a reputation for selling high-quality, reliable goods at competitive pricing.
However, the company faces a variety of micro-level barriers to international trade that it must address before attempting to enter foreign markets. Some of the micro-level barriers are discussed below: Tariffs and Taxes: Tariffs and taxes are a significant barrier to international trade. Each country has its tariffs, import quotas, and other trade restrictions. Cape Union Mart will have to research the import regulations of various countries before entering those markets.
It's critical to know the country's customs regulations and the import-export requirements to reduce the impact of such barriers. Cape Union Mart will have to adjust the quality of its products according to these standards, which can sometimes pose a challenge for the company. In conclusion, it's clear that Cape Union Mart will have to research various micro-level barriers that can arise before embarking on international trade. The company will have to adjust its prices, adapt to local regulation, and pay attention to currency exchanges to ensure success in global markets.
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Our construction project manager has 4 pieces of equipment to be added to the yard. (at a general contractors work site) Do capital analysis on all 4 pieces of equipment and enter the results in the summary excel form. Perhaps you could use Falcon Crest as a template. Make a decision as to which pieces of equipment are most profitable using the profitability index. Each auction sheet has various facts and information on them, you may or may not need all the information in your calculations. Attached are 4 auction bid sheets of the equipment and an excel summary sheet. SUMMARY Requirement 1: using separate tools and techniques, calculate the information and fill in the summary. Requirement 2. Which projects should rank first and why? 2021 Western Star 4700SB 6x4 T/A Dump Truck Item Number 5606401 Location Quaker City, Ohio, United States. 43773 Auction Date Dec 6, time TBD ITEM DETAILS Mileage 23,573 Miles VIN 5KKHAXDV2MPMK9019 Detroit DD 13 6 Cylinder 12.8L Diesel 525 hp Engine, US $89,000 Cost of Capital 7% (nfw equipment rate) Hurdle Rate 7% Cash Flow 513,700 Depreciation # A year SL, Salvage \$2,000 Peterbilt 348 4,000 gal 6x4 Water Truck Item Number 5702336 Location Humble, Texas, United States. 77396 Auction Date Dec 6, time TBD Mileage 21,461 Miles VIN 2NP3LJ0X6KM614721 USS75,000 Depreciation total 50,000 miles, 4,000 annual miles Salvage $5,000 Cash Flow $14,000 per year Cost of Capital 7\% Hurdle rate 7% 10 year life 2016 Cat 966M Wheel Loader Item Number 5721824 Location Hope Mills, North Carolina, United States. 28348 Auction Date Dec 6, time TBD US $81,000 Salvage \$1,000 Meter Reading 4,825 Hours Serial # CAT0966MCR8D00203 Enclosed Cab, Air Conditioner, Air Ride Seat, Joystick Steering, Auxiliary Hydraulic Plumbing, Life of asset: 10 year Cash Flow $12,200 Cost of Capital 7\% Hurdle rate 7% 2005 Cat D8T Crawler Dozer Item Number 5752023 Location Stringtown, Oklahoma, United States. 74569 Auction Date Dec 6, time TBD US $84,000 Meter Reading 26,109 Hours Serial # KPZ00698 Cost of Capital 10% (due to age of equipment) Hurdle rate 10% Cash Flow 910,500 per year for 10 years Depreciation 40,000 hours, Salvage $4,000, annual hours 4,000 Company cannot use financing sources available under its cost of capital average with local banks and lendin companies on this age of equipment. Therefore the cost of capital is higher. 2
The 2021 Western Star 4700SB 6x4 T/A Dump Truck should be added to the yard as it is the most profitable.Requirement 1: Capital Analysis on all 4 pieces of equipment 2021
Western Star 4700SB 6x4 T/A Dump Truck:Depreciation per year: $89,000 - $2,000 / 10 years = $8,700 per year
Cash inflows = $513,700
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $513,700 / $89,000 = 5.77
Peterbilt 348 4,000 gal 6x4 Water Truck:
Depreciation per year = $75,000 - $5,000 / 10 years = $7,000 per year
Cash inflows = $14,000
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $14,000 / $75,000 = 0.19
2016 Cat 966M Wheel Loader:
Depreciation per year = ($81,000 - $1,000) / 10 years = $8,000 per year
Cash inflows = $12,200
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $12,200 / $81,000 = 0.15
2005 Cat D8T Crawler Dozer:
Depreciation per year = ($84,000 - $4,000) / 10 years = $8,000 per year
Cash inflows = $910,500
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $910,500 / $84,000 = 10.85
Requirement 2:
Based on the profitability index calculation, the 2021 Western Star 4700SB 6x4 T/A Dump Truck should rank first as it has the highest profitability index, which indicates it is the most profitable. The Peterbilt 348 4,000 gal 6x4 Water Truck and 2016 Cat 966M Wheel Loader have a negative profitability index, which means they are not profitable investments. The 2005 Cat D8T Crawler Dozer has the second-highest profitability index, but due to its high cost of capital and the fact that the company cannot use financing sources available under its cost of capital average with local banks and lending companies on this age of equipment, it is not the most profitable investment.
Therefore, the 2021 Western Star 4700SB 6x4 T/A Dump Truck should be added to the yard as it is the most profitable.
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4-8. Assume you have been invited to speak on the topic "Global
Cotton Consumption: The Good, the Bad, and the Ugly." What key
points would you cover?
Title: Global Cotton Consumption: The Good, the Bad, and the Ugly
Introduction:
Global cotton consumption has significant implications for both the economy and society.
While it provides sustainable livelihoods to farmers in developing countries and supports the textile industry, it is also associated with environmental degradation, including the extensive use of water, pesticides, and fertilizers. Furthermore, the dark side of cotton consumption involves labor abuses, particularly child labor. This speech will discuss the positive aspects of global cotton consumption, its negative environmental impacts, and the issue of labor exploitation.
The Good:
One of the most significant benefits of global cotton consumption is the provision of sustainable livelihoods to farmers, particularly in developing countries. Over 250 million people worldwide depend on cotton as their primary source of income. Additionally, cotton farming empowers women, as approximately 70% of cotton is produced by women farmers. Moreover, cotton is a versatile and durable crop that plays a vital role in the textile industry, contributing to various economic sectors.
The Bad:
Cotton farming is not without its drawbacks. It requires a substantial amount of water, pesticides, and fertilizers, which contribute to environmental issues. The excessive use of these inputs leads to soil degradation and a decline in biodiversity. In fact, cotton is the most pesticide-dependent crop globally, accounting for around 16% of the world's total insecticide use. The continuous degradation of soil quality and environmental pollution are concerning consequences of unsustainable cotton farming practices.
The Ugly:
Global cotton consumption is also connected to labor abuses, particularly child labor, in developing countries. The textile industry has a notorious reputation for exploiting workers, including low wages, long working hours, and lack of employment security. Shockingly, a report reveals that more than 170 million children between the ages of 5 and 14 are involved in child labor worldwide. The prevalence of child labor in cotton harvesting is often attributed to the combination of low wages and poor working conditions.
Conclusion:
In conclusion, while global cotton consumption has provided sustainable livelihoods for millions of farmers and contributed to economic growth, its negative impacts on the environment and society cannot be ignored. Sustainable cotton production practices must be adopted to mitigate the excessive usage of water, pesticides, and fertilizers, safeguard soil quality, and preserve biodiversity. Additionally, efforts must be made to address labor abuses and eliminate child labor from the cotton industry. Only through responsible and sustainable practices can we ensure a future where cotton consumption benefits both the economy and the well-being of people worldwide.
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Using the discounted cash flow (DCF) valuation method, what is the maximum loan that can be made on a property with the following annual net before-tax cash flow, assuming an 11.5% discount rate and underwriting criteria that specify a maximum loan/value ratio of 70%? Cash flows: $1 million in year 1, 1.1 million in years 2 through 4, 1.5 million in years 5 through 9, and $12 million in year 10 including reversion.
$9,080,898, is the maximum loan that can be made on a property with the following annual net before-tax cash flow.
[tex]PV = CF / (1 + r)^n[/tex]
Year 1: PV = $1,000,000 / (1 + 0.115)^1 = $892,857
Years 2 - 4:
PV = $1,100,000 / [tex](1 + 0.115)^2[/tex] + $1,100,000 / [tex](1 + 0.115)^3[/tex]+ $1,100,000 / [tex](1 + 0.115)^4[/tex] = $2,707,317
PV = $1,500,000 / [tex](1 + 0.115)^5[/tex] + $1,500,000 / [tex](1 + 0.115)^6[/tex] + $1,500,000 / [tex](1 + 0.115)^7[/tex] + $1,500,000 / [tex](1 + 0.115)^8[/tex] + $1,500,000 / [tex](1 + 0.115)^9[/tex] = $6,870,634
Year 10: PV = $12,000,000 / [tex](1 + 0.115)^{10}[/tex]
= $2,501,904
Total PV = $892,857 + $2,707,317 + $6,870,634 + $2,501,904
Total PV = $12,972,712.
Maximum loan = $12,972,712 x 70%
Maximum loan = $9,080,898.
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which of the following is not a valid theory that attempts to explain the shape of the term structure of interest rates?
The liquidity premium theory is not a valid theory that tries to describe the shape of the term structure of interest rates. A liquidity premium is a rate of return demanded by investors for purchasing assets that are deemed more illiquid than other investments with similar maturities.
It's typically based on the concept that investments with less liquidity are more vulnerable to changes in market conditions and may be more difficult to sell at a reasonable price. Theories that describe the shape of the term structure of interest rates include:
Expectations theory is a term structure theory that assumes that long-term interest rates reflect the expectations of future short-term interest rates and the relevant risk premiums over time.
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onlineshop incorporated, ubiquitous incorporated, and travelmore corporation rely on various intangible assets to operate their businesses. these companies amortize the cost of these assets using the straight-line method over the following average estimated useful lives (in years), as reported in their annual reports. type of intangible asset onlineshop, incorporated ubiquitous, incorporated travelmore corporation developed technology 3.9 4.1 2.0 trade names 4.4 8.6 10.0 customer relationships 3.6 4.0 6.0 required: based on these estimates, identify the company that uses the longest periods for amortizing most of its classes of intangible assets.
Based on the average estimated useful lives reported in their annual reports, Travelmore Corporation uses the longest periods for amortizing most of its classes of intangible assets.
To identify the company that uses the longest periods for amortizing most of its classes of intangible assets, we need to compare the average estimated useful lives for each type of intangible asset.For developed technology, the average estimated useful lives are as follows: Onlineshop Incorporated: 3.9 years Ubiquitous Incorporated: 4.1 yearsTravelmore Corporation: 2.0 yearsFrom these estimates, we can see that Travelmore Corporation has the longest average estimated useful lives for both trade names (10.0 years) and customer relationships (6.0 years). While Onlineshop Incorporated and Ubiquitous Incorporated have longer estimated useful lives for developed technology (3.9 and 4.1 years, respectively), Travelmore Corporation's longer periods for trade names and customer relationships make it the company that uses the longest periods for amortizing most of its classes of intangible assets.
When comparing the average estimated useful lives for each type of intangible asset, we find that Travelmore Corporation uses the longest periods for amortizing most of its classes of intangible assets. The company's annual report indicates that they amortize their trade names over an average estimated useful life of 10.0 years and their customer relationships over an average estimated useful life of 6.0 years.In contrast, Onlineshop Incorporated has shorter estimated useful lives for both trade names (4.4 years) and customer relationships (3.6 years). Similarly, Ubiquitous Incorporated has shorter estimated useful lives for trade names (8.6 years) and customer relationships (4.0 years).
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You are the owner of a bakery in GTA. You have a loyal clientele and your product/service is positioned well in the marketplace. The retail price your customers pay for bread or pastry is exactly the same as at your competitors. However, the wholesale price you pay for your gluten-free flours (from which you make your pastries) has just increased by 25%. You know that you cannot absorb this increase and that you must pass it on to your customers. However, you are concerned about the consequences of an open price increase. You must forecast the possibilities of two altemative price-increase strategies that address these concems. Also, to include: consider the external and internal variables that might impact your ability to implement each of these three strategies. Hint think about the fixed and variable costs of this operation - how might these be incorporated in your answer.
As the owner of a bakery in GTA, an open price increase can negatively affect the business. Two alternative price increase strategies can be adopted to address this concern: incremental price increase or absorption of the cost.The first alternative is to incrementally increase the prices of gluten-free pastries and bread, by passing on the increased costs in smaller increments over an extended period.
External variables that may impact the ability to implement each strategy include consumer behavior and the intensity of competition within the market. The internal variables that may impact the ability to implement each strategy include fixed and variable costs associated with the production and selling of gluten-free pastries and bread, the structure of the business, and the overall financial performance of the business.
Fixed costs refer to the expenses that do not vary with the level of production or sales of products or services. Variable costs refer to expenses that are associated with the production and sale of gluten-free pastries and bread. To determine the impact of the price increase strategies on the business, fixed and variable costs should be taken into account.
In conclusion, the two alternative price increase strategies are incremental price increase or absorption of costs. The ability to implement each strategy may be impacted by internal and external variables, including fixed and variable costs. To determine the impact of the price increase strategies, it is crucial to take into account the business objectives, mission, and vision.
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As an investor, assume you have decided to make an equity
investment in Treslana. What specific
terms and conditions (if any) would you insist upon in order to
protect your money?
If you are an investor and decided to make an equity investment in Treslana, you would want to protect your money by insisting upon specific terms and conditions.
These are the most important ones to consider:
Voting rights:
You would want to have voting rights in Trelana so that you can have a say in how the company is run.
Board representation:
It is important to have board representation as an investor so that you can influence the decisions that are made.
Shareholding percentage:
You would want to ensure that your shareholding percentage is sufficient to have a voice in the company.
Liquidation preference:
You would want to ensure that your investment is protected in the event of a liquidation.
Anti-dilution protection:
This ensures that your investment is not diluted in the event that the company raises additional capital at a lower valuation.
Information rights:
You would want to have access to financial information about the company so that you can make informed decisions.
Drag-along rights:
This ensures that if the majority of shareholders want to sell the company,
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Last year the imaginary country of Wadiya had a population of 10.6 people worked 8 hours a day, and produced a real GDP of $32,000. The imaginary country of Baklava had a population of 12,8 people worked 6 hours a day, and produced a real GDP of $38,00. Which of the following is correct? Baklava had the higher productivity and higher real GDP per person. Wadiya had the higher productivity while Baklava had the higher real GDP per person. Wadiya had higher productivity and higher real GDP per person. Baklava had the higher productivity while Wadiya had the higher real GDP per person. Assuming no crowding-out, investment-accelerator, or multiplier effects, how will a $100 billion increase in government expenditures shift aggregate demand? It will shift aggregate demand left by more than $100 billion. It will shift aggregate demand right by less than $100 billion. It will shift aggregate demand right by more than $100 billion. It will shift aggregate demand right by $100 billion.
According to the given scenario,Last year, the imaginary country of Wadiya had a population of 10.6 people worked 8 hours a day, and produced a real GDP of $32,000. The imaginary country of Baklava had a population of 12,8 people worked 6 hours a day, and produced a real GDP of $38,00. Baklava had the higher productivity while Wadiya had the higher real GDP per person.
Therefore, Baklava had the higher productivity while Wadiya had the higher real GDP per person and a $100 billion increase in government expenditures will shift aggregate demand right by less than $100 billion.
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Suppose today a 10 % coupon bond with a $ 1,000 face value sells at par. Two years from now, the required return on the same bond falls to 8 % .
Suppose a 10 % coupon bond with a $ 1,000 face value sells at par. Two years later, the required return on the same bond falls to 8 %.The selling price of the bond today, when it sells at par value, is $1,000 because the coupon rate of 10% is equal to the required rate of return of 10%.
We may calculate the price of a bond using the following formula:Price of bond = PV of interest payments + PV of the principal amountThe PV of the interest payments is the present value of an annuity of $100 with a 10% rate of return for 20 years (the bond's life). We can get this value by using an annuity table. The PV of the principal amount is the present value of a $1,000 lump sum received in 20 years.
Again, we may use a table to figure this out. Thus, the bond's current selling price is $1,000.The bond's price will rise to $1,122.66 if the required rate of return falls from 10% to 8%, but the bond's coupon rate remains at 10%. We may use the formula for the bond price to find this out.
Here's the equation for the bond price calculation when the rate of return falls to 8%:Price of bond = PV of interest payments + PV of the principal amountPV of interest payments = $100 x [(1 – 1 / (1 + r) n) / r]PV of the principal amount = $1,000 / (1 + r)nPrice of bond = [tex]$100 x [(1 – 1 / (1 + 0.08)20) / 0.08] + $1,000 / (1 + 0.08)[/tex] 20Price of bond = $1,122.66As a result, a 10% coupon bond with a $1,000 face value selling at par will increase in price to $1,122.66 if the required return on the same bond falls to 8%.
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Take me to the text
The Marking Company's cash account decreased by $14,000. Net cash provided by operating activities was $24,000. Net cash used by investing activities was $21,000. Based on this information, calculate the net cash provided (used) by financing activities.
Do not enter dollar signs or commas in the input boxes. Use the negative sign for a decrease in cash.
Increase or decrease in cash from financing activities = $-17000
Explanation
Net change in cash balance = $24,000-$21,000 - $17,000-$14,000
Correct
Marks for this submission: 1.00/1.00
The following formula can be used to determine the net cash provided (or used) by financing operations based on the information provided:
Net cash supplied by operating activities plus net cash used for investments plus net cash provided (or used) for financing activities equals the net change in the cash balance. Given: Net cash used for investing activities is $21,000, whereas net cash used for operating activities is $24,000 (positive). A $14,000 (negative) decrease in cash was made from the cash account. We can rewrite the formula to get the net cash provided (or used) by financing activities: Net change in cash balance - (Net cash provided by operating operations + Net cash used by investment activities) is equal to net cash provided (or used) by financing activities. replacing the specified values: Net cash supplied (or spent) by financing operations is equal to ($14,000) - ($24,000 + ($21,000)). Net cash spent (or given) for financing activities is equal to -$14,000 - $24,000 + $21,000.Net cash used or provided by financing operations is negative $17,000.As a result, the financing activities' net cash provided (or utilised) is $7,000 ($17,000).
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xchanging business cards in the US is casual and not very important in Japan the exchange of cards is done with great ceremony. These are examples of the of this form of communication Multiple Choice media richness c O persuasiveness lack of acceptance Shared mental models wymbolic meaning
The examples provided in the question, where exchanging business cards is casual and not very important in the US but done with great ceremony in Japan, illustrate differences in symbolic meaning.
Symbolic meaning refers to the interpretation and significance attached to certain actions, objects, or behaviors within a cultural context. In this case, the act of exchanging business cards carries different symbolic meanings in the two countries. In the US, it is considered a relatively casual and less significant form of communication, while in Japan, it holds greater importance and is conducted with a formal and ceremonious approach .Therefore, the correct answer is: Symbolic meaning.
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1) Determine whether the argument is valid, and give a reason why.
Punishment for crime is never justified. This is because we know from a great deal of carefully assembled and analysed empirical data that punishment is not a deterrent. And punishment for crimes is justified if it actually deters people from committing them.
Select one: a) The argument is valid, follows the valid form of modus tollens.
b)The argument is invalid, even if the premises were true, punishment might still be justified for other reasons.
c)The argument is valid, if the premises are true, it's impossible for punishment to be justified.
d)The argument is invalid, it commits the fallacy of denying the antecedent - there might be other reasons why crime is a deterrent.
e)The argument is invalid, punishment might still be a deterrent.
f)The argument is valid, the premises are true, so the conclusion is also.
2) Choose the generalised form that represents the argument.
A = punishment is justified B = punishment deters people from committing crimes
Select one:
1. If B then A. 2. Not B. Therefore, C: Not A
1. If A then B. 2. Not B. Therefore, C: Not A.
1. If B then A. 2. Not A. Therefore, C: Not B
1. If A then B. 2. Not A. Therefore, C: Not B.
The argument is invalid, even if the premises were true, punishment might still be justified for other reasons. So, option b is correct.
1}The argument is invalid, even if the premises were true, punishment might still be justified for other reasons .Premises: Punishment for crime is never justified. This is because we know from a great deal of carefully assembled and analyzed empirical data that punishment is not a deterrent. And punishment for crimes is justified if it actually deters people from committing them. Conclusion: Punishment for crime is never justified. An argument is an attempt to persuade someone to believe or do something, often by appealing to their reason or emotions. An argument is typically composed of a set of premises and a conclusion, with the premises leading to the conclusion. An argument can be valid or invalid, depending on whether the premises logically support the conclusion.
2) If A then B. Not B. Therefore, C: Not A. represents the argument. The argument can be generalised as If A then B. Not B. Therefore, C: Not A. This general form of the argument is modus tollens, which states that if A implies B, and B is false, then A must also be false.
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Establishing and replenishing petty (58-2A. In general journal form, prepare journal entries to establish a petty cash fund on cash July 2 and replenish it on July 31. O (15 min) 2018 July 2 A $100 petty cash fund is established. 31 At the end of the month, $12 cash plus the following paid vouchers exist: donations expense, $20; postage expense, $18; office supplies expense, $25; miscellaneous expense, $25. Powered by Set B (Facel templates for all questions are available in MyAccountingl.ab.) C8-18. From the following information, construct a bank reconciliation for Bang Cou as of February 28, 2019. Then prepare journal entries if needed.
A petty cash fund is a tiny amount of money kept on hand to pay for low-cost expenses that are not deemed significant enough to justify writing a check.
Petty cash is also referred to as a "Cash Float" in some situations. The petty cash account can be used to pay for small business costs such as workplace supplies, postage, and other small expenses without having to write a check each time or use the company credit card.In general journal form, prepare journal entries to establish a petty cash fund on cash July 2 and replenish it on July 31 as follows:
Journal Entries for establishing the Petty Cash fundDateParticularsAmount ($)Amount ($)July 2Petty Cash a/cDr100.00To Cash a/c100.00(Being cash deposited to establish the petty cash fund)Journal Entries for replenishing the Petty Cash fundDateParticularsAmount ($)Amount ($)July 31Donations Expense a/cDr20.00Postage Expense a/cDr18.00Office Supplies Expense a/cDr25.00Miscellaneous Expense a/cDr25.00To Cash a/c88.00(Being cash withdrawn to replenish the petty cash fund)Bank Reconciliation:
Bank Balance as per Bank statement$300.00Add: Deposit in transit$100.00Less: Outstanding cheques$250.00Adjusted Bank balance$150.00Book Balance as per Books$180.00Add: Interest earned$20.00Less: Bank Service charges$50.00Adjusted book balance$150.00Journal Entries:
DateParticularsAmount ($)Amount ($)Feb 28Bank Charges Expense a/cDr50.00To Bank a/c50.00(Being bank charges paid by the bank)DateParticularsAmount ($)Amount ($)Feb 28Bank a/cDr20.00Interest Income a/cDr20.00To Income a/c40.00(Being the interest earned on the bank balance credited)Hence, we have prepared the journal entries for establishing and replenishing the petty cash fund, bank reconciliation for Bang Cou and journal entries for recording bank charges and interest income.
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Dr.Melhoff is a general practitioner that specializes in house calls. He knows there is a set of clients that require his services due to mobility limitations, while other for luxury and convenience. Dr. Melhoff is using what type of segmentation? Behavioural Demographic Psychographic Geographic Question 8 ( 1 point) The pro forma income statement is important to the overall process of constructing pro forma statements because it allows us to determine a value for: gross profit. prepaid expenses. interest expense. change in retained earnings.
Dr. Melhoff, a general practitioner who specializes in house calls, is using psychographic segmentation. Psychographic segmentation involves segmenting the market based on social class, lifestyle, personality traits, values, or interests.
Psychographic segmentation may also help to pinpoint the reasons why consumers buy a specific product or service and what benefits they expect from it. Dr. Melhoff recognizes that some of his clients require his services due to mobility limitations while others for luxury and convenience, which suggests that he is using psychographic segmentation. Pro forma financial statements are financial statements that forecast future financial performance based on assumptions and projections.
These statements can be prepared for any period in the future and are used for budgeting, forecasting, and decision-making. The pro forma income statement is important to the overall process of constructing pro forma statements because it allows us to determine a value for gross profit.
Gross profit is a company's revenue minus the cost of goods sold, which is the direct cost associated with the production of goods sold by a company. It is critical to determining the overall profitability of a company's operations and the value it creates.
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"... the governance of an enterprise is the sum of those activities that make up the internal regulation of the business in compliance with the obligations placed on the firm by legislation, ownership and control. It incorporates the trusteeship of assets, their management and their deployment" (Cannon, 1994).
Extracted from: Solomon, J., & Solomon, A. (2004). Corporate Governance and Accountability. West Success: John Wiley & Sons Ltd.
All questions relate to the case study above
Question 1
Having gone through the definition above, and using your knowledge of corporate governance who is given the trusteeship and control of assets in corporations (2 mark)
Question 2
Having gone through the definition above, and using your knowledge of corporate governance who is given ownership of the corporation (2 mark)
Questions 3
State and elaborate on any four obligations placed on a firm either by legislation ownership or control (12 marks)
Question 4
Critically analyze this definition given by Canon (1994) of corporate governance (10 marks)
Question 5
Using you knowledge of corporate governance give your definition of corporate governance and explain why you gave such a definition
In corporations, the trusteeship and control of assets are given to the board of directors. The board of directors is responsible for the governance of the corporation.
They also have the right to vote on important matters affecting the corporation.Questions 3: State and elaborate on any four obligations placed on a firm either by legislation, ownership, or controlFour obligations placed on a firm are as follows:1. Legal compliance: The firm must comply with all relevant laws and regulations.2. Financial reporting: The firm must maintain accurate financial records and report them to stakeholders. This includes financial statements, tax returns, and other financial reports.3.
Risk management: The firm must identify, assess, and manage risks that may affect the business.4. Stakeholder management: The firm must manage its relationships with stakeholders. This includes customers, employees, suppliers, investors, and other parties that have an interest in the firm. The firm must balance the needs and interests of these stakeholders to ensure that it operates in a socially responsible manner.Question 4: Critically analyze this definition given by Canon (1994) of corporate governance Canon's definition of corporate governance is comprehensive and covers a wide range of activities and responsibilities. It does not address the broader social and environmental impacts of the business. It also does not address the role of the corporation in society and the responsibility of the corporation to contribute to the welfare of society.Question 5: Using your knowledge of corporate governance, give your definition of corporate governance, and explain why you gave such a definition.Corporate governance is the system by which corporations are directed and controlled.
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Which of the following statements are correct in describing the efficiency of new public expenditures?(Check all that apply.)
Though the government typically funds socially valuable projects as part of a countercyclical fiscal policy, government waste is often a problem. The efficiency of public expenditures deteriorates when large sums of new government expenditures need to be spent quickly. The urgency makes it harder to identify and efficiently implement the projects that are socially beneficial. In addition, many of the projects with the highest social return have been funded already, raising the chance that a new project won't be socially desirable. Sometimes politics and special interests also get in the way, increasing the chances that wasteful projects with negative social value get funded. Finally, another important determinant of the effectiveness of expenditure-based policies is the lag in implementation. Long lags raise the concern that by the time many of the projects are implemented, the economy might already be past the point where these projects would have been most useful.
The correct statements that describe the efficiency of new public expenditures are as follows:Government waste is often a problem when the government typically funds socially valuable projects as part of a countercyclical fiscal policy.
Many of the projects with the highest social return have already been funded, raising the chance that a new project won't be socially desirable. Politics and special interests often get in the way, increasing the chances that wasteful projects with negative social value get funded. Long lags raise the concern that by the time many of the projects are implemented, the economy might already be past the point where these projects would have been most useful.
The efficiency of public expenditures deteriorates when large sums of new government expenditures need to be spent quickly. The urgency makes it harder to identify and efficiently implement the projects that are socially beneficial. These are the statements that describe the efficiency of new public expenditures.
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Starn Tool & Manufacturing Company, located in Meadville, PA, provides component machining for robotics, drones, vision systems, and special machines and assemblies for the aerospace, military, commercial, automotive, and medical industries. Assume the company has five different intangible assets to be accounted for and reported on the financial statements. The management is concerned about the amortization of the cost of each of these intangibles. Facts about each intangible follow: Patent. The company purchased a patent for a new tool at a cash cost of $66,300 on January 1, 2023. The patent has an estimated useful life of 13 years. Copyright. On January 1, 2023, the company purchased a copyright for $26,500 cash. It is estimated that the copyrighted item will have no value by the end of 10
years. Franchise. The company obtained a franchise from H & H Tool Company to make and distribute a special item for the automotive industry. It obtained the franchise on January 1, 2023, at a cash cost of $15,200 for a 10-year period. License. On January 1, 2022, the company secured a license from the city to operate a special service for a period of five years. Total cash expended to obtain the license was $14,800. Goodwill. The company purchased another business in January 2020 for a cash lump sum of $480,000. Included in the purchase price was "Goodwill, $48,000." Company executives stated that "the goodwill is an important long-lived asset to us." It has an indefinite life. Required: Compute the amount of amortization that should be recorded for each intangible asset at the end of the annual accounting period, December 31, 2023. Determine the book value of each intangible asset on December 31, 2024. Assume that on January 2, 2025, the copyrighted item was likely impaired in its ability to continue to produce strong revenues due to a legal dispute. The other intangible assets were not affected. Starn estimated that the copyright would be able to produce future cash flows of $19,400. The fair value of the copyright was determined to be $18,400. Compute the amount, if any, of the impairment loss to be recorded.
The intangible assets of Starn Tool & Manufacturing Company that need to be accounted for and reported on the financial statements are patent, copyright, franchise, license, and goodwill.
The amount of amortization that should be recorded for each intangible asset on December 31, 2023:1. PatentCost: $66,300Useful life: 13 years
Amortization for one year = Cost / Useful life = $66,300 / 13 = $5,100Book value on December 31, 2024 = Cost - Amortization = [tex]$66,300 - $10,200 = $56,1002.[/tex]
CopyrightCost: $26,500
Useful life: 10 years Amortization for one year = Cost / Useful life =[tex]$26,500 / 10 = $2,650[/tex]Book value on December 31, 2024 = Cost - Amortization = $26,500 - $13,250 = $13,2503.
Franchise Cost: $15,200 Useful life: 10 years Amortization for one year = Cost / Useful life = $15,200 / 10 = $1,520Book value on December 31, 2024 = Cost - Amortization = [tex]$15,200 - $3,040 = $12,1604.[/tex]
LicenseCost: [tex]$14,800[/tex] Useful life: 5 years Amortization for one year = Cost / Useful life = $14,800 / 5 = $2,960Book value on December 31, 2024 = Cost - Amortization =[tex]$14,800 - $8,880 = $5,9205.[/tex] Goodwill
There is no impairment loss to be recorded.
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