Sundance systems has the following transactions during July.
July 5- Purchases 58 LCD televisions on account from Red River Supplies for $3,400 each, terms 2/10. n/30.
July 8- Returns to Red RIver two televisions that had detective sound.
July 13- Pays the full amount due to Red River.
July 28- Sells remaining 56 televisions purchased on July 5 fpr $3,900 each on account.Record the transactions of Sundance systems, assuming the company uses a perpetual inventory system.

Answers

Answer 1

Answer: Please see below for answers

Explanation:

Journal to record Purchase of goods.

Date                General Journal                  Debit      Credit

5TH July  Inventory ( 58 x 3400)     $197, 200

               Accounts Payable                                     $197,200

journal to record goods returned

Date                General Journal                  Debit           Credit

8TH July   Accounts Payable (2 x 3400)     $6,800

               inventory                                                        $  6,800

journal to record payment made to supplier

Date                General Journal                              Debit           Credit

13TH July Accounts Payable (197,200-6,800)     $190,400

               inventory  ( 190,400 x2%)                                    $3808

              Cash( 190,400 - 3,808)                                      $186,592

From the question, the conditions for payment states 2/10 and n/30 meaning that the company will get 2% discount if they pay for products in 10 days of payment. the company paid on 13th and therefore will get a discount which is $3,808.

journal to record sale of goods

Date                General Journal                              Debit           Credit

28TH July Accounts receivable(56x 3900)     $218,400

                  Sales revenue                                               $218,400  

Journal to record cost of good sold

Date                General Journal                Debit           Credit

28TH July  cost of good sold               $186,592

               inventory                                                         $186,592      

             

             


Related Questions

On January 1, Year 1, a company issues $39.1 million of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The proceeds will be used to build a new ride that combines a roller coaster, a water ride, a dark tunnel, and the great smell of outdoor barbeque, all in one ride.
If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided.
Bond Characteristics AmountFace amount Interest payment Market interest rate Periods to maturity Issue price
A. If the market rate is 9%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1).
Bond Characteristics AmountFace amount Interest payment Market interest rate Periods to maturity Issue price
If the market rate is 10%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1).
Bond Characteristics AmountFace amount Interest payment Market interest rate Periods to maturity Issue price

Answers

Answer:

$42,969,487

$ 39,100,000  

$ 35,745,399  

Explanation:

The price of the bond using the pv formula in excel is given thus:

=-pv(rate,nper,pmt,fv)

rate is the market rate divided by 2 since interest is payable twice  a year

nper is 20year multiplied by 2 which gives 40

pmt is the semiannual coupon=$39,100,000*9%*6/12=$1,759,500.00  

fv is the face value of $39,100,000

market rate of 8%

=-pv(8%/2,40,1759500,39100000)=$42,969,487  

market rate of 9%

=-pv(9%/2,40,1759500,39100000)=$ 39,100,000  

market rate of 10%

=-pv(10%/2,40,1759500,39100000)=$35,745,399  

On July 1, Perry Company signed a note with principal of $80,000 and a stated interest rate of 4%. The principal and interest are due on April 1 of the following year. Perry will accrue interest on December 31st.

$80,000 * 4% * 6/12 = $1,600 Interest is always stated as an annual rate regardless of loan term. The 4% interest is annual and must be multiplied by 6/12 to account for the six months july-december when recording the accrued interest on 12/31.

Required:
What is an example of accrued receivable?

Answers

Answer:

$1,600

An example of accrued receivable is recording interest revenue before it is been received.

Explanation:

Principal =$80,000

Interest rate =4%.

July to December =6 months

Hence:

$80,000 * 4% * 6/12

=$80,000×0.04×0.5

= $1,600

Perry accrued interest on December 31st is $1,600

An example of accrued receivable is recording interest revenue before it is been received.

Atkinson Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support). Direct labor-hours is the allocation base for assembly support costs. In December 2016, Atkinson budgets 2017 assembly-support costs to be $8,800,000 and 2017 direct labor-hours to be 220,000.At the end of 2017, Atkinson is comparing the costs of several jobs that were started and completed in 2017.Laguna Model Mission ModelConstruction period Feb-June 2017 May-0ct 2017Direct material costs $106,550 $127,450Direct labor costs $ 36,250 $41,130Direct labor-hours 970 1,000Direct materials and direct labor are paid for on a contract basis. The costs of each are known when direct materials are used or when direct labor-hours are worked. The 2017 actual assembly-support costs were $8,400,000, and the actual direct labor-hours were 200,000.Required:1. Compute the (a) budgeted indirect-cost rate and (b) actual indirect-cost rate. Why do they differ?2. What are the job costs of the Laguna Model and the Mission Model using (a) normal costing and (b) actual costing?3. Why might Atkinson Construction prefer normal costing over actual costing?

Answers

Answer:

1. Compute the

(a) budgeted indirect-cost rate

$40 per labor hour

and (b) actual indirect-cost rate.

$42 per labor hour

Why do they differ?

Because total assembly support costs and labor hours were different.They both were actually lower than expected, but the labor hours were 9% lower while the costs were around 5% lower. That is why the actual rate increased (denominator decreased more than numerator).

2. What are the job costs of the Laguna Model and the Mission Model using (a) normal costing

                                               Laguna Model       Mission Model

assembly-support cost                $38,800               $40,000

and (b) actual costing?

                                              Laguna Model       Mission Model

assembly-support cost                $40,7400               $42,000

3. Why might Atkinson Construction prefer normal costing over actual costing?

The problem with actual costing is that they cannot be budgeted, you can only budget normal costing. Any business has to prepare budgets in order to control how their operations are being carried out and then they need to adjust them to the actual costs incurred.

Explanation:

                                                  Laguna Model       Mission Model

Construction period                 Feb-June 2017       May-0ct 2017

Direct material costs                   $106,550              $127,450

Direct labor costs                         $36,250                 $41,130

Direct labor-hours                             970                      1,000

budgeted indirect cost rate:

assembly-support costs $8,800,000

direct labor-hours 220,000

budgeted assembly-support cost per labor hour = $8,800,000 / 220,000 = $40 per hour

                                               Laguna Model       Mission Model

assembly-support cost                $38,800               $40,000

actual indirect cost rate:

assembly-support costs $8,400,000

direct labor-hours 200,000

actual assembly-support cost per labor hour = $8,400,000 / 200,000 = $42 per hour

                                               Laguna Model       Mission Model

assembly-support cost                $40,7400               $42,000

Mojo Mining has a bond outstanding that sells for $1,061 and matures in 25 years. The bond pays semiannual coupons and has a coupon rate of 6.1 percent. The par value is $1,000. If the company's tax rate is 39 percent, what is the aftertax cost of debt

Answers

Answer:

3.44%

Explanation:

For computing the after tax cost of debt we need to apply the RATE formula i.e shown in the attachment below:

Provided that,  

Present value = $1,061

Future value or Face value = $1,000  

PMT = 1,000 × 6.1% ÷ 2 = $30.5

NPER = 25 years × 2 = 50 years

The formula is shown below:  

= Rate(NPER;PMT;-PV;FV;type)  

The present value come in negative  

So, after applying the above formula,

1. The pretax cost of debt is 2.82% × 2 = 5.64%

2. And, the after tax cost of debt would be

= Pretax cost of debt × ( 1 - tax rate)

= 5.64% × ( 1 - 0.39)

= 3.44%

Suppose that the Federal Reserve decides to increase the money supply with a $300 purchases of Treasury bills. Complete the tables that represent the financial position of the Federal Reserve and commercial banks after this open-market operation. Be sure to use a negative sign for reduced values.For the Federal Reserve, what are assets? What are liabilities?

Answers

Answer:

The correct answer to the following question will be "Treasury bills, Monetary Base ". The further explanation is given below.

Explanation:

(A)...

Assets: $300 (tax bills)  

If it's bought by Federal Reserve, it's going to be the asset portion.

(B)...

Reserves: $300 (Commercial Banking liabilities)  

Based mostly on reserve requirements, banks would then deposit funds to Federal Reserve. All of the lenders will carry through.

(C)...

Treasury Deposits or bills = -$300  

Certain bills would go down by $300 as either a result of Federal Reserve purchases.

(D)...

Bookings or Reserves: + $300  

This would be growing by $300 because of the sale of treasury bills. It won't bring any changes to the aspect of liability.

If researchers add financial treasury obligations with reserves as well as circulating documents, so it becomes a financial basis. Such that the answer given is indeed the appropriate one.

Adjustment for Uncollectible Accounts Below is the aging of receivables schedule for Evers Industries. Aging of Receivables Schedule July 31 Customer Balance Not Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Subtotals 1,050,000 600,000 220,000 115,000 85,000 30,000 Boyd Industries 36,000 36,000 Hodges Company 11,500 11,500 Kent Creek Inc. 6,600 6,600 Lockwood Company 7,400 7,400 Van Epps Company 13,000 13,000 Totals 1,124,500 607,400 233,000 121,600 96,500 66,000 Percentage uncollectible 1% 3% 12% 30% 75% Allowance for Doubtful Accounts 106,106 6,074 6,990 14,592 28,950 49,500 Assume that the allowance for doubtful accounts for Evers Industries has a credit balance of $8,240 before adjustment on July 31. Journalize the adjusting entry for uncollectible accounts as of July 31. If an amount box does not require an entry, leave it blank. July 31

Answers

Answer:

bad debt expense 97,866 debit

 Allowance for Doubtful Accounts 97,866 credit

Explanation:

We are given the table for the aging method from which we extract the

Total for Allowance for Doubtful Accounts 106,106

Now, as currently the allwoance for doubtful accounts has a balance of 8,240 we need to adjust to make up the difference

106,106 adjusted balance - 8,240 current balance = 97,866 adjustment

we will credit the allowance and recognzie this amount of bad debt expense

This way we are matching our net account receivables with our estimation of what we expect to collect

Fontaine and Monroe are forming a partnership. Fontaine invests a building that has a market value of $334,000; the partnership assumes responsibility for a $117,000 note secured by a mortgage on the property. Monroe invests $92,000 in cash and equipment that has a market value of $67,000. For the partnership, the amounts recorded for the building and for Fontaine's Capital account are:

Answers

Answer:

Building= $334,000

Fontaine's capital account= $217,000

Explanation:

From the question above

Fountain company and Monroe company come together to form a partnership.

Fontaine invests a building that has a market value of $334,000

The partnership takes charge for a $117,000 note secured by a mortgage on the building

Monroe invests $92,000 on cash and equipments

The cash and equipments has a market value of $67,000

Therefore the amount recorded for the building is $334,000

The amount recorded for Fontaine's capital account is

= $334,000-$117,000

= $217,000

Hence for the partnership the amounts recorded for the building and fontaine's capital account is $334,000 and $217,000 respectively.

n the kinked demand curve model, competitors: A. ignore any price change by a rival firm. B. ignore any price increase and match any price decrease by a rival firm. C. match any price increase and ignore any price decrease by a rival firm. D. follow any price change by a rival firm.

Answers

Answer:

B. ignore any price increase and match any price decrease by a rival firm.

Explanation:

The kinked demand curve model is used by economists to provide information about the monopolistic and oligopolistic market.

Under oligopoly, the kinked demand curve shows that price aren't flexible for a long period of time. The kindred demand curve is associated with a demand curve that isn't a straight line but has varying elasticity for both lower and higher prices in the economic market.

Hence, organizations operating in an oligopolistic market ensure their market shares are maintained and well protected. Thus, an oligopolist would lower it's selling price if its competitors in the market lower their selling price. However, he or she ignores any price increase by his or her competitors.

The kinked demand curve model helps them to understand how to protect and expand their market share.

Zimmerman Company's annual accounting year ends on December 31. It is December 31, 2014, and all of the 2014 entries
except the following adjusting entries have been made:

a. On September 1, 2014, Zimmerman collected six months' rent of $8,400 on storage space. At that date, Zimmerman debited Cash and credited Unearned Rent Revenue for $8,400.
b. On October 1, 2014, the company borrowed $18,000 from a local bank and signed a 12 percent note for that amount. The principal and interest are payable on the maturity date, September 30, 2015.
c. Depreciation of $2,500 must be recognized on a service truck purchased on July 1, 2014, at a cost of $15,000.
d. Cash of $3,000 was collected on November 1, 2014, for services to be rendered evenly over the next year beginning on November 1, 2014. Unearned Service Revenue was credited when the cash was received.
e. On November 1, 2014, Zimmerman paid a one-year premium for property insurance, 9,000, for coverage starting on that date. Cash was credited and Prepaid Insurance was debited for this amount.
f. The company earned service revenue of $4,000 on a special job that was completed December 29, 2014. Collection will be made during January 2015. No entry has been recorded.
g. At December 31, 2014, wages earned by employees totaled $14,000. The employees will be paid on the next payroll date, January 15, 2015.
h. On December 31, 2014, the company estimated it owed $500 for 2014 property taxes on land. The tax will be paid when the bill is received in January 2015.

Required:
1`. Indicate whether each transaction relates to a deferred revenue, deferred expense, accrued revenue, or accrued
expense.
2. Give the adjusting entry required for each transaction at December 31, 2014.

Answers

Answer:

abcdefghijklmnopqrstuvwxyz

Big data analytics programs (which analyze massive data sets to make decisions) use gigantic computing power to quantify trends that would be beyond the grasp of human observers. As the use of this quantitative analysis increases, do you think it may decrease the "humanity of production" in organizations?

Answers

Answer:

The correct answer is: No, it may not decrease the humanity of production in organizations.

Explanation:

To begin with, the term known as ''humanity of production'' refers to that human element that gives to the company its capability of leadership and other human abilities. Moreover, when it comes to the big data analytics those programs would not decrease the humanity of production because in order to create all those programs and in order to read all the information that those programs give and to use it and implement there will be a need of using human capital to complete the whole objective. So therefore that human will be as need as machines.

Markysha needs to know the cost variance of her project to determine if it is under budget or over budget. To do this she decides to use _________ to compare her project's performance to the expected progress.

Answers

Answer:

Earned value management

Explanation:

Markysha decided to use Earned value management for this comparison.

Earned Value Management  helps project managers to measure project performance.

It is a project management process that is used to find variances in projects by comparing project's performance to the expected progress. It is useful on cost and schedule control and can be very beneficial when it comes to forecasting during projects.

Allyson Gomez invests $8,000 today in an investment that earns 6 percent per year (compounded annually) for 25 years. The average inflation rate is expected to be 1.8 percent per year. She will have much more than $8,000 in 25 years BUT what would this future amount be if expressed in today’s dollars? a. $34,335 b. $21,981 c. $52,306 d. $12,496 e. $21,839

Answers

Answer:

B

Explanation:

The first thing to do here is to calculate what the amount of money invested would be in 25 years given the interest rate.

Mathematically, that can be written as;

V = P(1 + r)^n

Where V is the future value

P is the present value which is $8,000

r is interest rate which is 6% (6/100 = 0.06)

n is the number of years which is 25 years

Now plugging these values into the equation, we have

V = 8,000(1 + 0.06)^25

V = 8,000(1.06)^25

V = $34,334.97 which is approximately $34,335

We can now proceed to get what this future value would be today if we take the inflation rate into consideration

Mathematically, this can work as follows

P = V(1 + i)^n

Where P is the present value of the money when the inflation is taken into consideration

V is the future value of the money which was calculated from above as $34,335

i is the inflation rate which is 1.8% per annum = (1.8/100 = 0.018)

n is the number of years which is 25

Substituting these values, we have;

P = 34,335/(1 + 0.018)^25

P = 34,335/(1.018)^25

P = 21,980.75

Which is approximately P = $21,981

If the Apple corporation sells a bond it is a. selling shares of ownership directly to the public. b. borrowing indirectly from the public. c. borrowing directly from the public. d. selling shares of ownership indirectly to the public.

Answers

Answer:

c. borrowing directly from the public.

Explanation:

If the Apple corporation sells a bond it is borrowing directly from the public.  That is because corporate bonds are exactly that, they are bonds issued by a corporation in which the individual buying them is basically loaning money to the corporation which they will receive back the full amount that they loaned out as soon as the bond matures. Therefore by buying a corporate bond you are directly loaning that corporation money to finance their operations.

If Apple Corporation sells a bond, it is borrowing indirectly from the public. Therefore, the correct option is b.

A bond is a debt instrument issued by a corporation or government entity to raise funds. When Apple sells a bond, it is essentially borrowing money from investors or the public. In return, Apple promises to repay the principal amount of the bond along with periodic interest payments. Bonds do not involve selling shares of ownership in the company, as in the case of issuing stocks. Instead, bonds represent a form of debt financing for the issuer.

Thus, the ideal selection is option b.

Learn more about bond here:

https://brainly.com/question/32567805

#SPJ6

Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Estes Company provided the following actual information: Overhead $412,600 Direct labor cost 532,000 Estes uses normal costing and applies overhead at the rate of 75% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,670,000.Required:
1. Calculate the overhead variance for the year. $2. Dispose of the overhead variance by adjusting Cost of Goods Sold.

Answers

Answer:

1.

$13,600 unfavorable

2.

$1,683,600

Explanation:

Overhead variance is difference between the budgeted and actual values of the overhead incurred by a company.

Applied Overhead is the overhead value calculated by multiplying the actual activity and budgeted applied rate.

Applied Overheads = $532,000 x 75% = $399,000

Actual Overheads = $412,600

Overheads Variance = Applied Overheads - Actual Overheads

Overheads Variance = $399,000 - $412,600 = -$13,600

As actual overheads are incurred more than the applied overhead, so the variance is unfavorable.

$13,600 unfavorable

2.

As the overhead is under-applied and it need to be adjusted and added in the cost of goods sold.

Cost of Goods sold = $1,670,000

Adjusted cost of goods sold = $1,670,000 + $13,600

Adjusted cost of goods sold = $1,683,600

On February 18, 2021, Union Corporation purchased 600 IBM bonds as a long-term investment at their face value for a total of $600,000. Union will hold the bonds indefinitely, and may sell them if their price increases sufficiently. On December 31, 2021, and December 31, 2022, the market value of the bonds was $580,000 and $610,000, respectively.Required:2. & 3. Prepare the adjusting entry for December 31, 2021 and 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answers

Answer:

Dr unrealized holding gains and losses—OCI  $20,000

Cr investment in bonds fair value adjustment              $20,000

Dr investment in bonds fair value adjustment              $30,000

Cr unrealized holding gains and losses—OCI                                 $30,000

Explanation:

On 31st December 2021 the adjustment required is the difference between the cost of bond investment of $600,000 and the market value of the bonds which was $580,000, in a nutshell a unrealized loss of $20,000 is recorded.

The excess of fair value of market value of $610,000 over the previous year market value would be debited to fair value adjustment while it is also credited to unrealized holding gains and losses-OCI

. Eric has another​ get-rich-quick idea, but needs funding to support it. He chooses an​ all-debt funding scenario. He will borrow ​$1 comma 823 from​ Wendy, who will charge him 4​% on the loan. He will also borrow ​$1 comma 533 from​ Bebe, who will charge him 6​% on the​ loan, and ​$644 from​ Shelly, who will charge him 12​% on the loan. What is the weighted average cost of capital for​ Eric? What is the weighted average cost of capital for​ Eric?

Answers

Answer:

6.04%

Explanation:

The weighted average cost of capital (WACC) can be described as the average rate that is expected that a business will pay to finance its assets to all holders of its security.

The weighted average cost of capital (WACC) can be estimated as the summation of the products of the weight of each loan in the total loan and their interest rate for this question as follows:

Total loan amount = $1,823 + $1,533 + $644 = 4,000

Weight of loan from Wendy = $1,823 / $4,000 = 0.46, or 46%

Weight of loan from Bebe = $1,533 / $4,000 = 0.38, or 38%

Weight of loan from Shelly = $644 / $4,000 = 0.16, or 16%

Weighted average cost of capital  = (46% * 4%) + (38% * 6%) + (16% * 12%) = 6.04%.

Therefore, the weighted average cost of capital for​ Eric is 6.04%.

Piper is a manager in a corporation that was organized in Canada by one of his former coworkers. The company provides consulting services and training for architects employed by construction companies. The company recently went public, with shares being sold to hundreds of investors. Piper’s company would be a __________ corporation.

Answers

Answer:

A Public company.

Explanation:

A public company can be described as a commercial organization that has its share capital formed by shares, that is, the company sells its shares to the public, who become partners in the company.

The shares of a public company are traded on the stock exchange freely, without the need for any type of public bookkeeping.

The company's shareholders can be composed of any type of person who is interested in buying shares in the company.

Private companies generally become public because of the possibility of obtaining capital, which generates greater revenue for the company and greater possibility for growth and investment in business.

The total value (debt plus equity) of Wilson Dover Inc. is $500 million and the face value of its 1-year coupon debt is $200 million. The volatility (σ) of Wilson Dover's total value is 0.60, and the risk-free rate is 5%. Assume that N(d1) = 0.9720 and N(d2) = 0.9050. Refer to the data for Wilson Dover Inc. What is the yield on Wilson Dover's debt?

Answers

Answer:

The yield on Wilson Dover's debt is 7.42%

Explanation:

In order to calculate the yield on Wilson Dover's debt we would have to calculate first the value of debt as follows:

value of debt=Total value*N(d1)-Debt*e∧-r fx period*N(d2)

value of debt=$500 million*0.9720-$200 million*2.7183∧-0.05*1*0.9050

value of debt=$486 million-$200 million*0.951229*0.9050

value of debt=$486 million-$172.1724 million

value of debt=$313.8276 million

=Total Value-Value of debt

=$186.17 million

The value of debt is $186.17 million

So, to calculate the yield we have to use the following formula:

Yield=(Face Value/current value)∧1/period-1

Yield=($200 million/$186.17 million)∧1-1

Yield=1.074286942-1

Yield=7.42%

The yield on Wilson Dover's debt is 7.42%

Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($18 per unit) $ 765,000 Variable expenses: Variable cost of goods sold 467,500 Variable selling expense 127,500 Total variable expenses 595,000 Contribution margin 170,000 Fixed expenses: Manufacturing 105,360 Selling and administrative 35,120 Total fixed expenses 140,480 Net operating income $ 29,520 During November, 35,120 units were manufactured and 8,650 units were in beginning inventory. Variable production costs per unit, total fixed manufacturing expenses, and the number of units produced were the same in prior months. Under absorption costing, for November the company would report a:__________.

(A) $4,850 profit(B) $4,850 loss(C) $35,750 profit(D) $19,400 profit

Answers

Answer:

Hie, there is no correct answer from the Options provided.

The Net Profit Under absorption costing, for November would be $7,460.

This is can be calculated from reconciling the Variable Costing profit to Absorption Costing profit or Alternatively from Preparing Absorption costing statement as shown below:

Absorption Costing Income Statement for November.

Sales                                                                           765,000

Less Costs of Goods Sold

Opening Stock (8,650×14)                       121,100

Add Cost of Manufacture (35,120×14)  491,600

Less Closing Stock (1270×14)                  (17,780)    594,920

Gross Profit                                                                170,080

Less Expenses

Variable selling expense                                           127,500

Fixed Selling and administrative                                35,120

Net Income / loss                                                            7,460

As part of an economics class project, students were asked to randomly select 500 New York Stock Exchange (NYSE) stocks from the Wall Street Journal. As part of the project, students were asked to summarize the current prices (also referred to as the closing price of the stock for a particular trading date) of the collected stocks using graphical and numerical techniques. Would this be an application of descriptive or inferential statistics

Answers

Answer:

Descriptive Statistics

Explanation:

Descriptive Statistics is a technique in which data is collected and then analysis is made on the selected data through numerical techniques or graphs. In the given question the students have selected stocks and are analyzing its performance through graphical and numerical technique. This is descriptive statistics.

Charles Underwood Agency Inc. has an expected net operating profit after taxes, EBIT(1 – T), of $14,200 million in the coming year. In addition, the firm is expected to have net capital expenditures of $2,130 million, and net operating working capital (NOWC) is expected to increase by $35 million. How much free cash flow (FCF) is Charles Underwood Agency Inc. expected to generate over the next year?

Answers

Answer:

The free cash flow (FCF) is Charles Underwood Agency Inc. expected to generate over the next year is $12,035 million

Explanation:

According to the given data we have the following:

net operating profit after taxes=$14,200 million

net capital expenditures= $2,130 million

net operating working capital = $35 million.

Therefore, free cash flow (FCF) is Charles Underwood Agency Inc. expected to generate over the next year would be calculated as follows:

FCF= net operating profit after taxes-net capital expenditures- net operating working capital

FCF=$14,200 million-$2,130 million- $35 million

FCD=$12,035 million

The Bloomington Bicycle Bearing company wishes to use a level output plan to plan for the rest of the year. Here is the forecasted demand for all bearing types: Month Demand May 800 Jun 650 July 720 August 690 Sept 530 Oct 610 Nov 630 Dec 610 If the beginning inventory is 300 units and the desired ending inventory at the end of December is 500 units, how many units will be in inventory at the end of August

Answers

Answer:

August ending Inventory 160 units

Explanation:

It wishes a level output AKAK same production over the rest of the year

total demand:

we add up the demand of the moths and our desired ending inventory

then we subtract the beginning and divide over the eight months

800 + 650 + 720 + 690 + 530 + 610 + 630 + 610 + 500 desired ending - 300 beginning = 5,440

We divide by 8 = 680 per month

Now we can do the budget up to August to solve for the ending inventory

[tex]\left[\begin{array}{ccccc}&Beg&Demand&Production&Ending\\May&300&800&680&180\\June&180&650&680&210\\July&210&720&680&170\\August&170&690&680&160\\\end{array}\right][/tex]

Ending = Beginning + Production - Demand (consumed)

Consider the following payoff matrix facing Harry and Sally when each chooses to go to the coffee shop listed. Both Harry and Sally would like to meet each other but are shy about asking the other out on a date. Harry Starbucks Dunkin Donuts Sally Starbucks H:1,S:1 H:0,S:0 Dunkin Donuts H:0,S:0 H:1,S:1 What is Harry's best strategy?

Answers

Answer:

Harry has no best strategy

Explanation:

Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.

Dominant strategy is the best option for a player regardless of what the other player is playing.

Nash equilibrium is the best outcome for a player where no player has an incentive to change their decisions.

If Harry and Sally goes to Dunkin Donuts, they both have a payoff of 1. If they go to different restaurants they have a payoff of zero. If they both go to Starbucks, they have a payoff of 1. Harry doesn't have a clear best strategy. So , he doesn't have a best strategy.

I hope my answer helps you

Problem 11-1A Short-term notes payable transactions and entries LO P1 [The following information applies to the questions displayed below.] Tyrell Co. entered into the following transactions involving short-term liabilities in 2016 and 2017. 2016 Apr. 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30. Tyrell uses the perpetual inventory system. May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $2,500 in cash. July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face value of $54,000. __

Answers

Missing information:

__?__ Paid the amount due on the note to Locust at the maturity date.

__?__     Paid the amount due on the note to NBR Bank at the maturity date.

Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 6% interest-bearing note with a face value of $24,000.

Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

2017

__?__  Paid the amount due on the note to Fargo Bank at the maturity date.

Required: prepare journal entries

Answer:

2016 Apr. 20 Purchased $37,500 of merchandise on credit from Locust, terms n/30.

April 20, 2016, merchandise purchased on account

Dr Merchandise inventory 37,500

    Cr Accounts payable 37,500

May 19 Replaced the April 20 account payable to Locust with a 90-day, $35,000 note bearing 8% annual interest along with paying $2,500 in cash.

May 19, 2016, replaced account payable with note payable

Dr Accounts payable 37,500

    Cr Cash 2,500

    Cr Notes payable 35,000

July 8 Borrowed $54,000 cash from NBR Bank by signing a 120-day, 10% interest-bearing note with a face value of $54,000.

July 8, 2016, borrowed $54,000 from bank

Dr Cash 54,000

    Cr Notes payable 54,000

__?__ Paid the amount due on the note to Locust at the maturity date.

August 17, 2016, paid note payable to Locust

Dr Note payable 35,000

Dr Interest expense 690.41 ($35,000 x 8% x 90/365)

    Cr Cash 35,690.41

__?__     Paid the amount due on the note to NBR Bank at the maturity date.

November 5, 2016, paid bank's debt.

Dr Notes payable 54,000

Dr Interest expense 1,775.34 ($54,000 x 10% x 1220/365)

    Cr Cash 55,775.34

Nov. 28 Borrowed $24,000 cash from Fargo Bank by signing a 60-day, 6% interest-bearing note with a face value of $24,000.

November 28, 2016, borrowed $24,000 from bank

Dr Cash 24,000

    Cr Notes payable 24,000

Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

December 31, 2016, accrued interests on bank debt

Dr interest expense 130.19 (= $24,000 x 6% x 33/365)

    Cr Interest payable 130.19

2017

__?__  Paid the amount due on the note to Fargo Bank at the maturity date.

January 27, 2017,  paid bank's debt.

Dr Note payable 24,000

Dr Interest payable 130.19

Dr Interest expense 106.52 (= $24,000 x 6% x 27/365)

    Cr Cash 24,236.71

A combination of news covered by the media that boosts sales without having to pay is best described by the term ________. (1pts) Question 5 - A combination of news covered by the media that boosts sales without having to pay is best described by the term ________. Select bootstrap marketing as your answer bootstrap marketing Select entertailing as your answer entertailing Select public relations as your answer public relations Select data mining as your answer data mining

Answers

Answer:

Public relations.

Explanation:

Public relations is a combination of news covered by the media that boosts sales without having to pay.

Public relations involves the process of professionally maintaining and sustaining a favourable public perception and image by an organization or an elite.

As a rule, every organization makes it a standard to always go for the best public relations manager, so as to have a competitive advantage over industry rivals and to boost their public image or reputations.

Hence, PR managers use public relations, as a strategic communication process to issue and disseminate quality informations between their principal (usually an individual) or an organization and the public, in order to build a mutualistic relationship.

Ecco Company sold $147,000 of kitchen appliances with six-month warranties during September. The cost to repair defects under the warranty is estimated at 6% of the sales price. On October 15, a customer required a $120 part replacement, plus $84 labor under the warranty.
a. Provide the journal entry for the estimated expense on September 30.
b. Provide the journal entry for the October 15 warranty work. If an amount box does not require an entry, leave it blank.

Answers

Answer:

a. Provide the journal entry for the estimated expense on September 30.

September 30, warranty liability

Dr Warranty expense 8,820

    Cr Warranty liability 8,820

b. Provide the journal entry for the October 15 warranty work. If an amount box does not require an entry, leave it blank.

October 15, warranty work

Dr Warranty liability 204

    Cr Inventory - parts 120

    Cr wages payable 84

Warranty expense must be recognized during the period that the associated sales are made, and as the expenses are accrued, you should debit the warranty liability account.

Process Costing using First-in-First Out (FIFO) Crone Corporation uses the FIFO method in its processing costing system. The following data concern the company's Assembly Department for the month of October.

Cost in beginning work in process inventory $1,920
Units started and completed this month 3,130

Materials Conversion:

Cost per equivalent unit $9.50 $20.40
Equivalent units required to complete the units in
beginning work in process inventory 360 140
Equivalent units in ending work in process inventory 330 264


Required:
a. Determine the cost of ending work in process inventory
b. Determine the cost of units transferred out of the department during October.

Answers

Answer:

Cost of ending inventory= $8,520.6

Total cost  of units transferred out=$99,863

Explanation:

Cost of ending inventory

Cost of items of inventory = cost per equivalent unit × No of units

Cost of items of inventory =  ($9.50×330) +  ($20.40 × 264)= $8,520.6

Total cost of units transferred out

The FIFO method of valuation of working in progress separates the units transferred out into opening inventory and fully worked.

The fully worked represents the units of inventory started and completed in the sames period.

The cost of units transferred out is the sum of h opening inventory and he fully worked. This done below:

Opening inventory = ($9.50 × 360)   + ($20.40×140)= 6276

Transferred of fully worked =  $(9.50 +$20.40) ×  3,130= 93,587

Total cost  of units transferred out =  (6276 +93587)=  $99,863

A corporate CEO wished to relay good news about the prospect of a new technology being created, but was reluctant to do so. Instead, the CEO announces that the firm has decided to increase its dividend. This story is illustrative of what view of dividend relevancy

Answers

Answer:

Information signaling

Explanation:

Information signalling is defined as the various actions a firm takes that communicates it's financial outlook. For example if a firm releases a dividend policy it communicates the value of the firm's stock.

In this scenario the CEO announced increase in the firm's dividend. This will convey to investors that the company has a competitive advantage which will result in additional income, so dividends are being raised.

It is an indirect way of announcing good news about the prospect of a new technology being created.

Calvin Manufacturing purchased new equipment that reduces setup times when employees change templates between production runs. This equipment has also improved quality control measures throughout the entire manufacturing process. What type of technology is Calvin Manufacturing using

Answers

Answer:

Lean production

Explanation:

Lean production refers to the management approach in which the company reduced its cost or do cost cutting so that it can improve the quality of their product and services. It is applied to each level each department of management like - design, production, etc

In the given situation, Calvin Manufacturing reduced their setup times that results in improving their quality control measures

So this situation represent the lean production technology

A part of a business's message that distinguishes it from all its competitors

is referred to as what?

Answers

Answer: Brand.

Explanation:

A brand usually a logo, name,  word or sentence or the comnbination  is  a company's valuable assets that  distinguishes its  their product from its competitors. Overtime, A Brand which proves credibility will promote the company's worth and value  and endear potential buyers   to the benefit  its owners and shareholders.   A brand becomes a trademark when legal protection is conferred on it.

Answer:

unique selling proposition

Explanation:

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