reparation of Stockholders’ Equity Section Wildcat Drilling has the following accounts on its trial balance. Debit Credit Retained Earnings 600,000 Cash 825,000 Additional Paid-In Capital—Common 3,100,000 Additional Paid-In Capital—Preferred 400,000 Accounts Payable 345,000 Accounts Receivable 410,000 Common Stock, $1 par 600,000 Preferred Stock, $10 par 340,000 Inventory 1,300,000 Treasury Stock—Common (30,000 shares) 382,000 Accumulated Other Comprehensive Income 70,000 Required: Prepare the stockholders’ equity portion of Wildcat’s balance sheet.

Answer:

Wildcat Drilling

Stockholders' Equity Section:

Common Stock, $1 par                                         600,000

Preferred Stock, $10 par                                      340,000

Additional Paid-In Capital—Common                3,100,000

Additional Paid-In Capital—Preferred                 400,000

Treasury Stock—

Common (30,000 shares)                                  (382,000)

Retained Earnings                                               600,000

Accumulated Other Comprehensive Income      70,000

Explanation:

a) Data and Calculations:

Wildcat Drilling Trial Balance Accounts:

                                                           Debit              Credit

Cash                                               825,000

Accounts Receivable                     410,000

Inventory                                    1,300,000

Accounts Payable                                                  345,000

Common Stock, $1 par                                         600,000

Preferred Stock, $10 par                                      340,000

Additional Paid-In Capital—Common                3,100,000

Additional Paid-In Capital—Preferred                 400,000

Treasury Stock—

Common (30,000 shares)           382,000

Retained Earnings                                               600,000

Accumulated Other Comprehensive Income      70,000

Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sales as the base.
Year 2 Year 1
Net sales $276,200 $231,400
Cost of goods sold 151,900 129,590
Operating expenses 55,240 53,240
Net earnings 27,820 19,820

what is the different between consumer and customer?​

Zooey is a single mother of two young children whose husband died in a tragic car accident. She earns $20,000 per year working as a cashier at a grocery store. The government uses a negative income tax system in which Taxes owed = (1/4 of income) - $15,000.

How much does Zooey owe or receive from the government?

a. She owes $5,000
b. She receives $10,000.
c. She owes $10,000.
d. She receives $15,000.

The master budget of a merchandising company includes a:_______
a. Production budget.
b. Direct materials budget.
c. Factory overhead budget.
d. Direct labor budget.
e. Purchases budget.

out line four roles played by entrepreneurs in Kenya​

The discount rate is a. the rate at which the Fed lends to banks. b. the rate at which public banks lend to other public banks. c. the percentage difference between the face value of a Treasury bond and what the Fed pays for it. d. the percentage of deposits banks hold as excess reserves.

Duane Miller wants to know what price home he can afford. His annual gross income is $67,200. He has no other debt expenses and expects property taxes and insurance to cost $320 per month. He knows he can get a 8.50%, 15 year mortgage so his mortgage payment factor is 9.85. He expects to make a 25% down payment. What is Duane's affordable home purchase price?
a. $107,929.
b. $158,793.
c. $138,207.
d. $209,139.
e. $179,665.

Terms of trade refers to: Group of answer choices The opportunity costs incurred in trade. The rate at which goods are exchanged. The degree to which one country has an absolute advantage. Which country pays the transportation costs when trade occurs

The short-run average total cost (ATC) curve of a firm will tend to be U-shaped because Group of answer choices larger firms always have lower per-unit costs than smaller firms. at low levels of output, AFC will be high, while at high levels of output, MC will be high as the result of diminishing returns. diminishing returns will be present when output is small, and high AFC will push per-unit cost to high levels when output is large. diseconomies of scale will be present at both small and large output rates.

During the year, Hamlet Inc. paid $22,000 to have bond certificates printed and engraved, paid $120,000 in legal fees, paid $18,000 to a CPA for registration information, and paid $280,000 to an underwriter as a commission. What is the amount of bond issue costs

convenient product is the product that is relatively inexpensive item that merits little shopping effort. Is it true or false?​

Consider the following opportunities. Opportunity 1 requires a $4,000 cash payment now (Year 0) but will result in $14,000 cash received in Year 5. Opportunity 2 requires no cash outlay and results in $3,500 cash received in Year 3 and Year 5.

Required:
Use a 6 percent discount rate and determine whether Opportunity 1 or Opportunity 2 results in a greater NPV.

Janice has been invited to appear on a home improvement show for the remodel of her summerhouse in Maine. Janice asks Mary to wallpaper her house in anticipation of the home improvement, and requests expensive custom wallpaper and a very intricate design application, for which the wallpaper would cost $5000, plus labor. Mary, excited for a very large job for her solo business, orders the intricate wallpaper and blocks off her calendar for the amount of time it will take to complete the job. After the paper has been ordered, Mary asks some friends to be available to complete the job in time for the show. Janice is informed that she will not be on the show and notifies Mary that she will not need the wallpaper.
a. Does Mary have a case for re-imbursement?
b. Under what legal theory might she prevail and what are her damages, if any?
c. What ethical theories might be applicable?

Identify a key concept or foundational theory from the first four weeks of class and in half a page discuss how it applies to your current work environment or a recent social, political or business event. Include the chapter and sub topic from your textbook. g

The following costs were incurred in May:

Direct materials $39,400
Direct labor $34,000
Manufacturing overhead $21,600
Selling expenses $19,700
Administrative expenses $38,600

Conversion costs during the month totaled: ______________

a. $61,000
b. $153,300
c. $73,400
d. $55,600

Expert Lawn Services offers customers a reduced price for lawn care if they pay for 6 months service in advance. In March 2020, 50 customers prepay $540 each for services to be provided from April through September. Expert recognizes revenue proportionately over the 6-month period. What is Expert's unearned revenue liability as of April 30

gdp bình quân là gì ?

1.Marketing Myopia occurs when the company focuses on the product more than necessary to deliver a certain product. 


True

False

 


2.Marketing offers are only restricted to tangible items like that of pens and notepads you use at class rooms. 



True

False

 



3.Selling focuses on the needs of the buyer; marketing focuses on the needs of the seller. *



True

False

4.The deference in “Marketing Philosophy” and that of “Societal Marketing Philosophy” is that in the later we are concerned about the human welfare. *



True

False

5.Once an opinion leader it is always an opinion leader. 


True

False

6.Consumers are individuals or groups who purchase a product for resell. *


True

False

 


7.It is more than enough for a marketer in a company to know the customer’s need and want in order to produce and deliver a certain product in the market. *


True

False

8.Human wants are the form taken by human needs as they are shaped by culture and individual personalities. *



True

False

9.What makes marketing harder is that it is hard to understand the needs and wants of the customers. 









​

Research on the increasing rate of teenage pregnancy with research methods

K Company estimates that overhead costs for the next year will be $3,441,000 for indirect labor and $930,000 for factory utilities. The company uses direct labor hours as its overhead allocation base. If 93,000 direct labor hours are planned for this next year, how much overhead would be assigned to a product requiring 5 direct labor hours

Park Company reports interest expense of $145,000 and income before interest expense and income taxes of $1,885,000. (1) Compute its times interest earned. (2) Park's competitor's times interest earned is 4.0. Is Park in a better or worse position than its competitor to make interest payments if the economy turns bad

Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $30, direct labor $20, variable manufacturing overhead $16, fixed manufacturing overhead $42, variable selling and administrative expenses $18, and fixed selling and administrative expenses $24. Its desired ROI per unit is $27.00. Compute its markup percentage using a total-cost approach. (Round answer to 2 decimal places, e.g. 10.50%.)

2 Income statement data for Starr Canning Corporation are as follows: 2009 2008 Sales $1,400,000 $1,200,000 Cost of goods sold 850,000 730,000 Selling expenses 205,000 240,000 General expenses 140,000 100,000 Income tax expense 82,000 50,000 Required a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis)

Complete the following statements with one of the terms listed here. You may use a term more than once. Some terms may not be used at all. Capital turnover Direct fixed expenses Flexible budget variance Key performance indictors (KPIs) Profit center Sales margin Common fixed expenses Favorable variance Goal congruence Management by exception Return on investment (ROI) Unfavorable variance Cost center Flexible budget Investment center Master budget variance Revenue center Volume variance

Completing a Master Budget
Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:
a. As of December 31 (the end of the prior quarter), the company’s general ledger showed the following account balances:
Debits
Credits
Cash
$ 48,000
Accounts receivable
224,000
Inventory
60,000,
Buildings and equipment (net)
370,000
Accounts payable
$ 93,000
Capital stock
500,000
Retained earnings
_______
109,000
$702,000
$702,000
b. Actual sales for December and budgeted sales for the next four months are as follows:
December (actual)
$280,000
January
$400,000
February
$600,000
March
$300,000
April
$200,000
c. Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales.
d. The company’s gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.)
e. Monthly expenses are budgeted as follows: salaries and wages, $27,000 per month: advertising, $70,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $42,000 for the quarter.
f. Each month’s ending inventory should equal 25% of the following month’s cost of goods sold.
g. One-half of a month’s inventory purchases is paid for in the month of purchase; the other half is paid in the following month.
h. During February, the company will purchase a new copy machine for $1,700 cash. During March, other equipment will be purchased for cash at a cost of $84,500.
i. During January, the company will declare and pay $45,000 in cash dividends.
j. Management wants to maintain a minimum cash balance of $30,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.
Required:

Using the data above, complete the following statements and schedules for the first quarter:

1. Schedule of expected cash collections:
January
February
March
Quarter
Cash sales

$ 80,000







Credit sales

224,000







Total cash collections

$304,000







2. a. Merchandise purchases budget:




January

February

March

Quarter

Budgeted cost of goods sold

$240,000*

$360,000





Add desired ending inventory

90,000f







Total needs

330,000







Less beginning inventory

60,000







Required purchases

$270,000







___________

*$400,000 sales X 60% cost ratio =$240,000.

†$360,000 X 25% = $90,000.

b. Schedule of expected cash disbursements for merchandise purchases:




January

February

March

Quarter

December purchases

$ 93,000





$ 93,000

January purchases

135,000

135,000



270,000

February purchases

—







March purchases

—







Total cash disbursements for purchases

$228,000







3. Schedule of expected cash disbursements for selling and administrative expenses:




January

February

March Quarter
Salaries and wages
$ 27,000
Advertising
70,000
Shipping
20,000
Other expenses
12,000
Total cash disbursements for
selling and administrative expenses
$129,000
4. Cash budget:
January
February
March Quarter
Cash balance, beginning
$ 48,000
Add cash collections
304,000
Total cash available
352,000
Less cash disbursements:
Purchases of i nventory
228,000
Selling and administrative
expenses
129,000
Purchases of equipment
_____
Cash dividends
45,000
Total cash disbursements
402,000
Excess (deficiency) of cash
Financing: Etc.
(50,000)
5. Prepare an absorption costing income statement for the quarter ending March 31 as shown in Schedule 9 in the chapter.
6. Prepare a balance sheet as of March 31.

Ponzi Products produced 100 chain-letter kits this quarter, resulting in a total cash outlay of $10 per unit. It will sell 50 of the kits next quarter at a price of $11, and the other 50 kits in the third quarter at a price of $12. It takes a full quarter for Ponzi to collect its bills from its customers. (Ignore possible sales in earlier or later quarters.)

a. What is the net income for Ponzi next quarter?
b. What are the cash flows for the company this quarter?
c. What are the cash flows for the company in the third quarter?
d. What is Ponzi’s net working capital in the next quarter?

Determine the amount of money in a savings account at the end of 1 year, given an initial deposit of $12,000 and a 4 percent annual interest rate when interest is compounded: Use Appendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

If sales are $798,000, variable costs are 72% of sales, and operating income is $258,000, what is the contribution margin ratio?
a. 72%
b. 68%
c. 28%
d. 32%

In ________ organizational cultures, more individuality is shown through the organization’s rules being less strictly applied.

Cellestial Manufacturing Company produces Products A1, B2, C3, and D4 through a joint process. The joint costs amount to $200,000.
If Processed Further
Sales Value Additional
Product Units Produced at Split-Off Costs Sales Value
A1 3,000 $10,000 $2,500 $15,000
B2 5,000 30,000 3,000 35,000
C3 4,000 20,000 4,000 25,000
D4 6,000 40,000 6,000 45,000
Which product(s) should be sold at split-off to maximize profits in the short run?
a. Product A1
b. Product D4
c. Product B2
d. Products A1 and D4