If manufacturing overhead cost of goods sold (COGS) are applied to work in process, they result in a cost of goods manufactured for July of $ 232,000 ($67,000).
The direct expenses incurred in creating the products a business sells are referred to as cost of goods sold (COGS). The cost of the materials and labor used directly to make the good are included in this sum. Indirect costs like those manufactured associated with the sales force and distribution are not included.
The cost of goods sold (COGS) is the price of purchasing or producing the things that a business sells over a given period. As a result, only manufactured expenditures that are directly related to the production of the goods, such as labor and material costs, are included in the measure.
Raw Materials Inventories Utilized In Production
Beginning Raw materials $ 41,000
Add Purchases $ 73,000
Less Ending Raw materials ($ 37,000)
Used in Production $ 77,000
Cost of goods manufactured
Raw Materials $ 77,000
Direct labor cost $ 98,000
Manufacturing overhead $ 65,000
Total Cost of Manufacturing $ 240,000
Add Opening Work in process $ 23,000
Less Ending Work in process ($ 31,000)
Cost of goods manufactured $ 232,000
Not that Manufacturing overhead are included to the amount Applied in the Manufacturing Cost
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sophie received title to her grandmother’s farm last spring. for almost 100 years, sophie’s family has kept cows and goats on the 120-acre property. the deed came with a caveat: sophie is never to raise pigs on the farm. if she does, then the property is transferred to her brother. what did sophie’s grandmother create
Their grandma of Sophia creates a Condition.
Does the contract include a condition?A condition is yet another essential component of a standard contract. Before a party is required to carry out his obligations under a contract, there must be a condition, which is an occurrence or a fact that must be accurate.
A requirement or restriction contained in a contract, trust, law, or another legally recognized document that modifies the rights and obligations of persons concerned is known as a condition.
Why are contract conditions crucial?Terms and conditions make it clear what should happen in each specific circumstance. They outline the important commercial terms you are providing to your clients and aid in the understanding of the contractual parties' obligations, rights, and roles.
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carlow industries has a total inventory of $837,000. if they have $129,000 in raw materials and $265,000 in work-in-process, how much inventory do they have available for sale?
They have $443,000 inventory for sale when work-in-process and raw materials cost is given.
Work in process (WIP) inventory refers to partially finished materials in any production round. The overall cost of incomplete goods currently in production is referred to as work in process in manufacturing and supply chain management.
The total cost of a company's constituents, sub - assemblies, and supplies that are currently in stock but have not been used for production is referred to as raw materials inventory. The cost of goods available for sale is calculated by adding the cumulative value of current inventory to the cost to produce that inventory.
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lamont communications has amortized a patent on a straight-line basis since it was acquired beginning of 2015 at a cost of $50 million. during 2018 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the
A patent balance of $34 million. A patent is classified as an intangible asset because it lacks physical substance but provides long-term value to the entity that owns it.
What exactly is a patent in a balance sheet?As a result, patent accounting is the same as that of any other intangible fixed asset, which is: The first recording. An intangible asset is one that lacks a physical form. Goodwill, brand recognition, and intellectual property such as patents, trademarks, and copyrights are examples of intangible assets.According to Accounting Tools, a patent is an intangible asset. These are non-physical assets with a useful life of more than a year, also known in accounting as "multi-period useful life." Patents, copyright, trademarks, customer lists, and broadcast rights to sporting events are examples of intangible assets.Therefore,
A patent balance of $34 million
[($50-$7.5)/(8-3) years] $50m-16m=$34m
$50=given
$7.5= (2.5x3yrs)
2.5= 20 yr legal life/8 total years
8= life of the patent
3= # of years passed
16= (2.5x3)
The complete question is:
Lamont communications has amortized a patent on a straight-line basis since it was acquired in 2015 at a cost of $50 million. During 2018 management decided that the benefits from the patent would be received over a total period of 8 years rather than the 20-year legal life being used to amortize the cost. Lamont's 2018 financial statement should include:
A. A patent balance of $50 million
B. Patent amortization exp of $2.5 million
C. Patient amortization exp of $5 million
D. A patent balance of $34 million
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you have been appointed head of marketing for barry's younique yachts. barry, the ceo, is interested in determining whether offering his yachts at a lower price would increase the firm's revenue. he asks you for advice. using your knowledge of elasticity, you should tell barry
You should tell Barry that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.
What is elasticity?Elasticity is a measurement of a variable's sensitivity to changes in other variables; most frequently, this sensitivity is the change in quantity demanded in relation to changes in other factors, like price.
Price elasticity, as used in business and economics, describes the extent to which individuals, consumers, or producers alter their demand or the volume of their supply in response to changes in price or income. It is primarily used to evaluate how a change in the cost of a good or service affects consumer demand.
Unlike necessities, which are typically highly inelastic, the demand for luxury goods is typically highly elastic.
A demand that is elastic means that the amount demanded would be significantly affected by a change in price.
As a result, if the price of yachts, a luxury good with high elasticity, is reduced, demand for yachts will rise and profits will rise.
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if you are in the 25 percent tax bracket and received an after-tax rate of return of 6 percent, the yield on the savings account would therefore be percent.
Based on your tax bracket and the after-tax rate of return, the yield that you get on your saving's account is 8%
How to find the yield?The after-tax rate of return is the yield on the savings account after taxes have been accounted for. It can be found by the formula:
After tax yield = Before-tax yield x ( 1 - tax rate)
To find the before tax yield therefore, the formula would be:
Before tax yield = After tax yield / ( 1 - tax rate)
Solving for the yield on the savings account gives:
= 6% / (1 - 25%)
= 6% / 75%
= 0.08
= 8%
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what is a key advantage of the emerging field of neuromarketing? a. it may offer additional quantitative insights into consumer behavior. b. it is an excellent supplement to secondary research insights. c. it offers greater insights and understanding of brain science. d. it may offer additional qualitative insights into consumer behavior.
The key advantage of the emerging field of neuromarketing is a. it may offer additional quantitative insights into consumer behavior.
What is neuromarketing?Neuromarketing cab be described as the type of marketing which involves the use of physiological and neural signals so that this can be used to have access to more potential customer that will patronize the business or the particular product.
In this case the neuromarketing help the business to know more about the consumer and the method that will be used to make them come to patronize the business and so that they can make more profit.
Therefore option A is correct.
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the journal entry to record $6,000 cash received for $7,000 services performed would include a.a credit to accounts receivable for $6,000. b.a credit to cash for $6,000. c.a credit to fees earned for $7,000. d.a credit to accounts receivable for $1,000.
The journal entry to record $6,000 cash received for $7,000 services performed would include a. a credit to Cash for $6,000.
What is journal entry?An accounting record for a business uses a journal entry to document a commercial transaction. The general ledger is where journal entries are often made, however they can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. The business's financial statements are then produced using the general ledger.
Every business transaction must be recorded in at least two places in order for a journal entry to make sense (known as double entry accounting). When you make a cash sale, for instance, both the revenue account and the cash account are increased. Alternatively, if you purchase items on credit, the inventory account and accounts payable account are both increased.
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what number taken off 20% equals $304
The number which is taken off 20% equals $304 is 20.
Here we will replace the given values in formula (a):
Amount saved = Original price x the discount in percent / 100.
= $304 x 20% / 100
= 6080 / 100
Amount Saved = $60.8 (answer).
Here, a 20% discount for an item with original price of $304 = $60.8
Thus, in order to find the amount saved, multiply it by the percentage and / 100.
Use the formula (b) and replace the given values:
Sale price = Original Price - the amount saved.
Sale Price = $304 - $60.8 = $243.2
One will pay $243.2 for an item with its original price of $304 when it is discounted by 20%.
Suppose, if one buy an item at $304 with a 20% discount, they have to pay $243.2
Use the formula (b) and replace the given values:
Amount Saved = the priginal price × discount in percent /100.
60.8 = $304 × discount in percent / 100
60.8 / $304 = discount in percent / 100
100 × 60.8 / $304
6080 / $304
Discount in Percent = 20
Hence, the number which is taken off 20% equals $304 is 20.
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chelan is a manager and must measure the performance of her employees. the method she uses requires her to analyze the performance of each employee in relation to other workers. what is the approach that chelan will be using?
As Chelan is required to measure the performance of her employees by analyzing the performance of each employee in relation to other workers, the type of approach that she will be using is known as a comparative approach.
What is a comparative approach?Basically, a comparative approach can be related to a comparative analysis, as they involves the process of comparing items to one another and distinguishing their similarities and differences. When most firm wants to analyze an idea, problem, theory etc, they conducts a comparative analysis to better understand the issue and form strategies in response.
In conclusion, a comparative approach is very useful to achieve a goal because it allows for controlling the contextual variation.
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Anna, a technician, is helping a customer troubleshoot an issue where a server will intermittently become inaccessible to employees. Anna has completed researching the knowledge bases available. What should anna do next as part of standard troubleshooting methodology?.
Answer:
Establish a theory of probable cause.
Explanation:
Step 1. Identify the problem.
Step 2. Establish a theory of probable cause.
Step 3. Test the theory to determine the cause.
Step 4. Establish a plan of action to resolve the problem and implement the solution.
Step 5. Verify full system functionality and, if applicable, implement preventive measures.
Step 6. Document findings, actions, and outcomes
As part of the standard troubleshooting methodology, Anna should follow these steps. Verify the problem: Ensure that the issue reported by the customer is reproducible, and document any error messages or symptoms related to the problem.
What is troubleshooting means?Troubleshooting is a methodical approach to problem resolution. The goal of troubleshooting is to figure out why something doesn't work as it should and to explain how to fix it. The first step in troubleshooting is to thoroughly describe the problem.
Based on the symptoms and error messages observed, Anna should form a hypothesis or theory about the underlying cause of the issue. This may involve ruling out potential causes or testing various scenarios.
Test the theory to determine the cause: Anna should run tests or perform actions to validate or invalidate the hypothesis or theory.
Establish a plan of action to resolve the problem: Based on the results of the tests, Anna should develop a plan of action to resolve the problem.
Implement the solution: Anna should implement the plan of action and test the system to ensure that the problem is resolved.
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Discuss how Hassan’s transformation is different or similar to that of other characters in the book. (The hundred foot journey)
The similarity and difference between Hassan and Amir (other character) in the story is as follows:
Similarity: Act of loyalty is the common features for both Hassan and Amir.Differences: This features is observed in respective family and origin as well as their attitudes to life, friendship, and respect which make them too close and too far to each other simultaneously.What is the relationship between Hassan and Amir?At the beginning of the story, both character are childhood friends who enjoys each other's company and spend their days playing together. Even though Hassan is Amir's servant and of a lower social status, he is the braver and physically stronger of the two boys.
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power drive corporation designs and produces a line of golf equipment and golf apparel. power drive has 100,000 shares of common stock outstanding as of the beginning of 2021. power drive has the following transactions affecting stockholders' equity in 2021. march 1 issues 65,000 additional shares of $1 par value common stock for $62 per share. may 10 purchases 6,000 shares of treasury stock for $65 per share. june 1 declares a cash dividend of $2.00 per share to all stockholders of record on june 15. (hint: dividends are not paid on treasury stock.) july 1 pays the cash dividend declared on june 1. october 21 resells 3,000 shares of treasury stock purchased on may 10 for $70 per share. required: record each of these transaction
The basic accounting process of recording transaction involves a few steps. Identifying the transaction and the affected accounts is the first step. Recording in the specific accounts is the second step. Numbers entered into the debit and credit sections must be done carefully.
What is debit and credit?When money enters an account, it is recorded as a debit (dr), while it is recorded as a credit (cr), when it leaves.
Date Particulars Debit Credit
Mar 1 Cash A/c (65000 × $62) Dr 4030000
Common stock A/c (65000 × $1) 65000
Additional pain-in capital 3965000
May 10 Treasury shares A/c (6000 × $65) Dr 390000
Cash A/c 390000
June 1 Cash Dividend A/c Dr 318000
Dividend payable A/c 318000
(100000 + 65000 + 6000) × $2
July 1 Dividend payable A/c Dr 318000
Cash A/c 318000
Oct 21 Cash A/c (3000 × $70) Dr 210000
Treasury shares A/c (3000 × $65) 195000
Additional pain-in capital A/c 15000
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if a check correctly written and paid by the bank for $419 is incorrectly recorded in the company's books for $491, how should this error be treated on the bank reconciliation?
Add $72 to the book's balance if a check that was duly written and paid by the bank for $419 was mistakenly entered in the business's records for $491.
How does book balance work?According to its accounting records, a company's book balance represents its cash position. Transactions that haven't settled or cleared through the bank account may be included in the book balance. A company's book balance and bank balance are compared at the end of an accounting period via the monthly bank statement.
How are book balances determined?The amount of the adjusted bank balance is determined by removing all outstanding checks, adding all pending deposits, subtracting all adjustments, and adding the amount entered in the Statements Ending Balance field in Reconcile Bank.
What is a reconciliation of books?Reconciliation of the Books is the reconciliation process used by the company to check that the books are accurate and free of fraud or manipulation before the company's books of accounts are closed.
Briefing:
If started with bank, then the difference amount i.e;
$72 (491 - 419) must be added to book balance.
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Lira inc. Manufactures luxury watches for men under the brand name felix. The company decides to sell luxury perfume under the same brand name to capitalize on its brand equity. This type of brand strategy is called?.
Lira inc. Manufactures luxury watches for men under the brand name Felix. The company decides to sell luxury perfume under the same brand name to capitalize on its brand equity. This type of brand strategy is called brand extension
This is further explained below.
What is a brand extension?Generally, Using the same brand name in a new product category is an example of a marketing technique known as "brand extension" or "brand stretching." This tactic is used by a company that is promoting a product that already has a positive image.
A sp\in-o\ff is a name given to a new product. This tactic is used by companies in order to boost their brand equity and maximize their potential.
In conclusion, Under the brand name Felix, Lira. creates high-end wri/stwa/tches aimed only at male consumers.
In order to make the most of its brand value, the corporation makes the decision to offer high-end perfume under the same brand name. Brand extension is the name given to this particular marketing technique.
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Which of the following is the safest investment?
stocks
government bonds
mutual funds
cryptocurrencies
The safest investment among these is B. government bonds.
What are government bonds?Government bonds issued by the national government are debt instruments for raising money to support government activities.
Examples of government bonds include U.S. treasury bonds issued by the federal government and municipal bonds, issued by counties.
Government bonds assure the bondholders of regular interest payments and debt repayment at maturity without fail, unlike corporate bonds.
Stocks issued by corporate organizations, mutual funds by financial institutions, and cryptocurrencies, like bitcoin cannot compare with government bonds in safety terms.
Thus, risk-free investments remain Option B.
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the primary way a website is able to personalize the content presented to a visitor is through the use of: group of answer choices cookies. accessibility rules. privacy policies. site management tools.
The primary way a website is able to personalize the content presented to a visitor is through the use of cookies.
A website is a collection of interconnected web pages that generally reside on the same server containing a collection of information provided by individuals, groups, or organizations. The website is a collection of components consisting of text, images, sound, animation, video so that it is more of an interesting medium of information to visit.
The inventors of the website were Sir Timoty and Tim Berners Lee, while the first network-connected website appeared in 1991. On April 30, 1993, CERN (where Tim worked) announced that the WWW could be used free of charge by the public. WWW is a program invented by Tim Berners Lee in 1991.
At first Berners Lee just wanted to find a way to keep the archives of his research. He developed a system for personal use. The system was a software program dubbed Equire. WWW was first developed at the European Research Center for Particle Physics (CERN), Geneva, Switzerland. In the summer of 1991, the official WWW was widely used on the Internet.
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Companies that sell printers for at-home use usually sell the printers at a low price point and sell the corresponding ink cartridges at a very high price point. This strategy is known as ____________.
Companies that sell printers for at-home use usually sell the printers at a low price point and sell the corresponding ink cartridges at a very high price point. This strategy is known as Captive Product Pricing
Pricing for goods that include both a core product and a number of auxiliary or supplementary goods required for the main product to provide its full value is known as captive product pricing.
When compared to peripheral products, which must be purchased in order for the core product to be valuable, the core product may occasionally be inexpensive or sold at a discount.
This makes it possible to sell goods with higher margins than the main item.
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According to the career contessa, which of the 4 main sections in a typical job posting is most important for determining if you are qualified for the job?.
According to the career contessa, of the 4 main sections in a typical job posting the most important for determining if you are qualified for the job is "Great Attitude".
What is the relationship between a great attitude and career performance?This leads to success, either through promotion or better pay. Productivity: When employees have a good mindset, they are more interested in what they do and deliver. As a result, individuals generate higher-quality work with fewer mistakes. This increases their total production and productivity.
Workers with positive attitudes outperform those with negative attitudes. Managers must monitor staff attitudes and handle issues such as negativity and laziness.
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one flew south's strategy of locating their high-end restaurant in the atlanta airport rather than where premier establishments are usually placed – the city center or crowded suburbs, is an example of the strategy.
This is an example of the blue ocean strategy. A blue ocean strategy seeks to make the competition completely pointless.
Blue oceans represent all of the industries that do not exist today - the unexplored and uncontaminated market space and competition. It is vast, deep, and powerful in terms of opportunity and profitable growth, much like the 'blue' ocean.
What is the objective of a blue-ocean strategy? George Marketing & PR has achieved a small but highly beneficial market share in its region by concentrating on the requirements of small and medium-sized businesses, which are frequently overlooked by larger players.
Here is the complete question-
One Flew South's strategy of locating their high-end restaurant in the Atlanta airport rather than where premier establishments are usually placed - the city center or crowded suburbs, is an example of the _____ strategy.
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Which is a true statement about the principles of organization?
The organizational principles are indeed similar regardless of the size of the business. This is a True statement.
The Scalar Principle, Delegation of Authority, Division of Labor, and Unity of Command. The four tenets of the organization are as follows.
The scale of a business's operations determines the production and, in turn, the number of sales it generates. You can run a business on a big scale, a medium scale, or a small scale. Return on assets, a proxy for financial performance, shows that firm size has a positive impact.
The size of a company may be a sign that it is expanding, which will cause the market to react favourably. The size or scale of a company increases as total assets and sales increase.
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a rent ceiling creates a of housing if it the equilibrium rent. question content area bottom part 1 a. surplus; is less than b. shortage; exceeds c. surplus; exceeds d. shortage; is less than
Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in?.
Business-level strategies detail commitments and actions taken to provide value to customers and gain competitive advantage by exploiting core competencies in the selection of industries in which the firm will compete.
Business level strategies are the coordinated set of moves and actions taken with the intention of providing consumers with value and establishing a competitive advantage for the organization in the specific product or service market by leveraging its core capabilities. It demonstrates the company's standing on the market in against its rivals.
Organization's positioning in your industry and the route of your earnings will be established by your business level strategy. It will also have an effect on how well you can cater to your client.
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Jodi bought a new sofa for $1,240.
She made a down payment of $130 and paid off the balance in 18 months at $80 per month.
What was the amount of the finance charge?
A. $330
B. $1,570
C. $1,440
D. $140
If Jodi bought a new sofa for $1,240 and She made a down payment of $130 and paid off the balance in 18 months at $80 per month. The amount of the finance charge is: A. $330
Finance chargeUsing this formula to determine the amount of finance charge
Finance charge = [ (Balance to be paid in month × Amount per month) + Down payment ]- Cost of sofa
Let plug in the formula
Finance charge = [ ( 18 months × $80 per months ) + $130 ]- $1,240
Finance charge =($1,440 +$130) - $1,240
Finance charge = $1,570 -$1,240
Finance charge = $330
Therefore the correct option is A.
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what is the third step in the actions employers should take when creating and implementing electronic communications policies? monitor electronic use for business purposes only. develop an electronic communications policy. communicate the policy to employees. obtain signed permission from employees to say they understand the policies.
Get staff members to confirm that they understand the policy by signing as the third stage in the procedures companies should follow when developing and putting into place electronic communications rules.
Policy is a planned set of rules intended to direct choices and produce logical results. A policy is an intention declaration that is put into practice by a method or routine. A governance body inside a company typically adopts policies. a collection of recommendations or a strategy for action that has been officially accepted by a group of individuals, a commercial organization, a government, or a political party. In a nutshell, an employee is defined as "a person who works for another in exchange for financial or other compensation." 3 Independent contractors would seem to be considered employees based on that description. A solid and enduring organization is built on its workforce. Regardless of level, workers are in charge of the company. This means that they cannot be valued as assets based on their strength, dedication, and emotional connection to the company.
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chuck, a single taxpayer, earns $77,800 in taxable income and $13,100 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.)
The amount of additional tax paid for each new dollar of income received is known as the marginal tax rate then the marginal rate is 21.08%.
What is meant by marginal tax rate?The amount of additional tax paid for each new dollar of income received is known as the marginal tax rate. Total taxes paid divided by total income earned is the average tax rate. With a marginal tax rate of 10%, tax would be deducted from the following dollar of income at a rate of 10%.
The marginal tax rate is the amount of additional tax that must be paid for each additional dollar of income received. The average tax rate is calculated as total taxes paid divided by total income earned. If the marginal tax rate were 10%, tax would be subtracted at a 10% rate from the next dollar of income.
A. marginal tax rate = Change in Tax / Change in Taxable Income
substituting the values in the above equation, we get
= ($21,889.50 - $12,439.50) / ($115,000 - $75,000)
= $9,450 / $40,000
= 23.63%
Therefore, the marginal tax rate is 23.63%.
B. Marginal rate = Change in Tax / Change in Taxable Income
substituting the values in the above equation, we get
= ($4,009.50 - $12,439.50) / ($35,000 - $75,000)
= -$8,430 / -$40,000 = 21.08%
Therefore, the marginal rate is 21.08%.
The complete question is:
Chuck, a single taxpayer, earns $75,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule.)
A. If Chuck earns an additional $40,000 of taxable income, what is his marginal tax rate on this income?
B. What is his marginal rate if, instead, he had $40,000 of additional deductions?
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future value measures: what one or more cash flows that is to be received in the future will be worth today. what one or more cash flows are worth at the end of a specified period. the value of an investment after subtracting interest earned on it for one or more periods. o the value of an investment in today's terms.
Measures of future value B) The value of one or more cash flows at the end of a predetermined period.
Future Value (FV): What Is It?Future value is the value of a current asset at some point in the future based on an assumed rate of growth (FV). The future value is important to investors and financial planners because they use it to estimate how much an investment made today will be worth in the future. Knowing the future value enables investors to choose wisely based on their anticipated needs.
However, external economic factors that depreciate an asset's value, like inflation, can have a negative impact on the asset's future value. One can compare present value to future value (PV). The FV equation is as follows if an investment earns simple interest:
[tex]FV=I*[1+(R*T)][/tex]
where,
Investment sum, I
Interest rate = R
T is the number of years.
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one group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is group of answer choices management. interested outsiders. competitors. the government.
The correct option is (A) management
One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is management.
What is management?Coordination and arrangement of corporate activities is referred to as business management.
Operations are overseen by managers, who also assist staff in maximising production.
Assisting a company in achieving its operational and financial goals, a manager of a business may also supervise or train new hires.
To accomplish a goal, tasks are coordinated and managed through management.
These administrative tasks involve determining the organization's strategy and coordinating the staff's efforts to achieve these goals by utilising the resources at hand.
In order to make sure that their company succeeds, business managers are essential.
It is impossible to exaggerate how important these individuals are because they oversee and control everything from budgeting to human resources.
The art of management is to maximise efficiency in a social process, a way to accomplish tasks with the help of others, a plan of action, and its direction by a cooperative group working towards a common goal. Management is the skillful use of available resources to accomplish a single goal.
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the following financial statements and additional information are reported. ikiban incorporated comparative balance sheets at june 30 2021 2020 assets cash $ 102,700 $ 52,000 accounts receivable, net 77,000 59,000 inventory 71,800 98,500 prepaid expenses 5,200 7,000 total current assets 256,700 216,500 equipment 132,000 123,000 accumulated depreciation—equipment (31,000) (13,000) total assets $ 357,700 $ 326,500 liabilities and equity accounts payable $ 33,000 $ 42,000 wages payable 6,800 16,600 income taxes payable 4,200 5,400 total current liabilities 44,000 64,000 notes payable (long term) 38,000 68,000 total liabilities 82,000 132,000 equity common stock, $5 par value 236,000 168,000 retained earnings 39,700 26,500 total liabilities and equity $ 357,700 $ 326,500 ikiban incorporated income statement for year ended june 30, 2021 sales $ 718,000 cost of goods sold 419,000 gross profit 299,000 operating expenses (excluding depreciation) 75,000 depreciation expense 66,600 157,400 other gains (losses) gain on sale of equipment 2,800 income before taxes 160,200 income taxes expense 44,690 net income $ 115,510 additional information a $30,000 notes payable is retired at its $30,000 carrying (book) value in exchange for cash. the only changes affecting retained earnings are net income and cash dividends paid. new equipment is acquired for $65,600 cash. received cash for the sale of equipment that had cost $56,600, yielding a $2,800 gain. prepaid expenses and wages payable relate to operating expenses on the income statement. all purchases and sales of inventory are on credit. required: (1) prepare a statement of cash flows using the indirect method for the year ended june 30, 2021. (amounts to be deducted should be indicated with a minus sign.)
In order to calculate the ratio you must first calculate the cash flow generated or used from operating activities, as shown below.
Cash flows from operating activities
Profit $115,510
Adjustments for:
Depreciation Expense $66,600
Working capital changes:
(Increase) / Decrease in the trade and other receivables -18,000
(Increase) / Decrease in the inventories $26,700
(Increase) / Decrease in prepaid expenses $1,800
Increase / (Decrease) in trade payables $-9,000
Increase / (Decrease) in wages payable -9,800
Increase / (Decrease) in income tax payable -1,200
Cash generated / provided by operations $172,610
So then, divide cash generated / provided by operations by average total assets.
$172,610 is the cash generated
Average total assets = ($82,000 total assets June 2017 + $132,000 total assets June 2016) / 2
$172,610 / $107,000 = $1.61 cash flow on the given total assets ratio
Hence, for every $1 in total assets the company generates $1.61 of cash flow.
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riesa is an attorney who specializes in real estate and land-use law. together with her wife, she also owns a property management company with over 2,000 apartment units in the metro area. riesa is experienced in goal setting and strategic planning. if you were the commissioner of the city’s housing authority, to which role would you most likely nominate riesa?
Board of regents role would you most likely nominate Riesa .
The Regent is responsible for the general oversight of all educational activities in the state and presides over the colleges and the New York State Department of Education. The Regent is organized into standing committees, subcommittees, and working groups, whose members and chairs are appointed by the Prime Minister.
The Regent board shall consist of her twenty-six members as defined in Article IX, Section 9, each of whom shall have one vote. The 18 regents are appointed by the governor for 12-year terms. One is a student appointed by the Regent for her one-year term.
A majority of the Board (18 Regents) are appointed for 12-year terms upon nomination by the Governor of California and confirmation by the California Senate. Student Trustees are selected by the Board to represent students for one-year terms through a recruitment process administered by the Board.
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How you would solve the problem or address the issue? Be specific. Please include dialogue to express your thoughts if it seems appropriate and makes sense with the given situation.
If you feel that there are several ways to handle any of the scenarios, please discuss all options.
What, if any, tips or steps from the unit (gather relevant info, identify alternatives, weigh evidence, make a choice and take action, accept the outcome) did you use in order to reach your solution/decision? Be specific and explain.
You are the manager of a small marketing company. One of your employees is dressing inappropriately for an office setting. Other employees are complaining that it is distracting them from their work. You have spoken to the employee about this issue twice, and nothing has changed. The employee is a solid worker and their inappropriate dress is the only issue that you have with them.
What do you do?
What you would do with the employee would be to talk to him again, formally request that he dress appropriately and not distract his co-workers.
What tips or unit steps would you take to reach a solution?I would first collect the information about the issues that relate to this employee. For example, I would take screenshots from the security cameras to have proof that you are wearing inappropriate clothing. On the other hand, he would take the official testimony of his companions about the acts of distraction that he performs on them.
Subsequently, I would evaluate the alternatives we have with this employee, taking into account that his performance is good but that it means a problem for the company due to his behavior towards others and his appearance. For example he could be transferred to another department of the company.
Ultimately I would make the decision to have a formal conversation with him and a written request that he modify his behavior in accordance with the company's rules or else he will be fired for not abiding by internal laws.
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