Inferring Values Using the Income Statement and Balance Sheet Equations Review the chapter explanations of the income statement and the balance sheet equations. Apply these equations in each of the following independent cases to compute the two missing amounts for each case. Assume that it is the end of the first full year of operations for the company. TIP: First identify the numerical relations among the columns using the balance sheet and income statement equations. Then compute the missing amounts. Independent Total Total Net Total Total Stockholders' Cases Revenues Expenses Income (loss) Assets Liabilities Equity A A $100,000 82,000 $150,000 70,000 $ B 80,000 12,000 112,000 60,000 C 80,000 86,000 104,000 26,000 D 50,000 13,000 22,000 77,000 E 81,000 (6,000) 73,000 28,000
Answers
Answer:
The solution and the calculation is shown on the first uploaded image
Explanation:
Related Questions
Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $358,700; materials of 401,000 and direct labor of $211,000. During the year Adams incurred $409,000 in materials costs, $412,300 in overhead costs and $215,000 in direct labor costs. Compute the amount of overhead applied to jobs during the year.
Answers
Answer:
Allocated MOH= $365,500
Explanation:
Giving the following information:
Estimated total overhead= $358,700
Estimated direct labor cost= $211,000
Actual direct labor cost= $215,000
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 358,700/211,000
Predetermined manufacturing overhead rate= $1.7 per direct labor dollar
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 1.7*215,000
Allocated MOH= $365,500
Including the change control system within the ________ is a key to a successful project.A. Work Breakdown Structure.B. Project Baseline.C. Risk Management Plan.D. Work Breakdown Structure and Proect Baseline.
Answers
Answer:
The correct answer is C) Risk Management Plan
Explanation:
Change Control System is a key component of the Risk Management Framework/Strategy.
Many times, a project will change midway thus altering significantly the expected results, costs and even purpose of the project. This usually poses a lot of challenges to Project Managers.
Factors or sources of changes to a project include but are not limited to:
Project Owner;Extraneous risks;Customer to Project Owner etc.Cheers!
When the changes are implemented in a process or a system they are ensured by a change control system.
It follows, surveys and accepts the changes before the product or the process are influenced by the change.
The correct answer is:
Option C) Risk Management Plan
This can be explained as:
Risk management is mainly controlled by the change control system.Many times, a project get altered thus concerning the anticipated results, expenses and even direction of the project. This usually feigns a lot of difficulties to managers.A change in the project affects the owner, risks, and the customers.Therefore, risk management is a key to changing the control system.
To learn more about change control system follow the link:
https://brainly.com/question/25278765
Which of the following statements describes an oil and gas blind pool offering?a) the oil exploration occurs in an area that is not adjacent to any known oil reserves.b) money is raised without a specific property being stated, and the GP selects the investments.c) the income from producing wells is purchased at a discount from the present value of the projected future flows.d) an unknown number of representatives participates in the sale of known partnership units.
Answers
Answer:
b) money is raised without a specific property being stated, and the GP selects the investments.
Explanation:
A blind pool offering can be defined as a limited liability partnership or investment program that isn't backed up by the required investment goals for the funds that has been gathered from investors.
When money is raised without a specific property being stated, and the GP selects the investments it describes an oil and gas blind pool offering.
The brothers who created The GFB early on began shopping the product to independent coffee shops and then expanded into grocery and natural food stores. These choices represent which core aspect of marketing?
Answers
Answer:
Marketing channels.
Explanation:
Marketing Channels is one of the core aspects of marketing which enables a company to marketize its products, services, and brand identity to it's customers.
The Gluten Free Bars (GFB) are the vegan bars created by Marshall and Elliot Rader (brothers). The brothers created the GFB in 2010, and heralded the gluten-free industry.
To marketize their products, they used the element of marketing channels. They first reached to their possible customers by shopping their products to independent coffee shops, then to grocery and natural food stores. They used the channels of independent coffee shops, grocery and natural food stores to marketize their products and services to their possible customers.
Thus the correct answer is that they used marketing channels aspect of marketing.
Operations management moves from knowing the needs of consumers to actually satisfying those needs.a) trueb) false
Answers
Answer:
True
Explanation:
Remember, no business operations would exist if there aren't any identified customer needs to solve.
Also, we need to bear in mind that Operations management activities are done in any business in other to efficiently (profitably) process raw materials, labor, etc into the goods and services needed by consumers.
Which of the following statements is true of personnel management during the 1930s and 1940s?a. It was concerned almost exclusively with hiring first-line employees. b. It was concerned solely with structuring individual jobs to maximize efficiency and productivity. c. It was considered a function of line managers. d. It was seen as a critical function in most business organizations.
Answers
Answer: It was concerned almost exclusively with hiring first-line employees.
Explanation:
Personnel management has to do with the planning, integration, compensation, and maintainance of employees to achieve Individual or organizational goals.
Recently, personnel management is now called human resources management. Before then, personnel management during the 1930s and 1940s was concerned almost exclusively with hiring first-line employees who worked on issues relating to the company's future and achieving the company's goals
Santo Corporation declares and distributes a cash dividend that is a result of current earnings. How will the receipt of those dividends affect the net income of the investor under each of the following accounting methods?
Fair Value Method Equity Method
a. No Effect Decrease
b. Increase Decrease
c. No Effect No Effect
d. Increase No Effect
Answers
Answer:
d. Increase - No Effect
Explanation:
Under the fair value method, cash dividends are considered revenue. E.g. a $10,000 dividend will increase net income by $10,000 - taxes.
Under the equity method, cash dividends are not considered revenue (have no effect on income statement) and instead they decrease the assert account. Investment revenue takes place when the company reports net income for the year.
An owner of a small firm needs to hire some managers. Assume that each manager has time to
do only one task. Task A is worth $100,000 to the owner, Task B is worth $75,000, and Task C is
worth $50,000. The owner hires only two managers, having one to do Tas A and the other Task
B. What is the opportunity cost of Task B?
Answers
Answer:
The opportuniy cost is the cost of forgoing one alternative.
In this case, the opportunity cost of Task B is the value of Task C, which is $50,000.
This is because the owner has hired two managers, one to do Task A, and another to do Task B, which leaves Task C unattended.
Pfister Corporation reports Retained Earnings of $8,863 million. This represents: ________.
Answers
Answer:
The below options are missing from the question:
a. the total amount of income earned since incorporation less distributions to shareholders
b. the total amount of income earned since incorporation
c. the amount of cash available to distribute to common shareholders
d. a reserve the firm can use to acquire another company
a. the total amount of income earned since incorporation less distributions to shareholders
Explanation:
The retained earnings of $8,863 million is the accumulated net income that the company has realized since it incorporation minus all dividends paid to shareholders since.
Note the formula for determining closing retained earnings is given below:
closing retained earnings=beginning retained earnings+net income-dividends
If IBM manufactures a computer in the United States and sells it to a French business firm in Paris, it will cause an increase in:_________a. Net exports.b. Imports.c. Both investment and net exports.d. Government expenditures.e. Consumption.
Answers
Answer:
B
Explanation:
When goods produced in a country are sold to other countries, it is known as export.
When a country purchases a foreign produced good, it is known as import
the difference between export and import is known as net export.
Net export increases when export increases and decreases when import decreases.
As a result of the sale of the computer, US net export would increase and France's net export would decrease.
Use a production possibilities frontier to describe the idea of efficiency.
Answers
Answer:
Efficiency
Explanation:
Efficiency is when a market is producing the greatest possible amount given its resources. This is demonstrated by the production possibility frontier, which displays the maximum amount of a good that can be produced in relationship to the production of another good.
Why luxury hotels might have higher variability than the budget hotels. Think about the Hotel Industry and why you might see greater price variability for upscale goods compared to budget items.
Answers
Full question attached
Answer:
mean and standard deviation of luxury hotels=145, 27.6
mean and standard deviation of budget hotels=46.1, 5.13
There is higher variability for luxury hotels than budget hotels
Explanation:
Please see attachment for explanation
The account balances of Wilson Towing Service at June 30, 2016, follow:Equipment $12,950Office supplies 1,000Notes payable 4,500Rent expense 500Cash 1,400Dividends 5,500Service revenue 12,500Accounts receivable 8,000Accounts payable 10,000Retained earnings June 1, 2016 5,900Salaries expense 2,500Common stock 2,000Required:1. Prepare the income statement for Wilson Towing Service for the month ending June 30, 2016.2. What does the income statement report?
Answers
Answer:
Wilson Towing Service
Income Statement
For the month ending June 30, 2016
Service revenue $12,500
Salaries expense ($2,500)
Rent expense ($500)
Operating profit $9,500
The income statement tells us how much profit/loss did a business make during a certain period of time. In this case, the operating profit was $9,500. In order to calculate net income we would need to subtract taxes but we are not given the tax rate or the taxes due.
Determine the following:_______.a. The stockholders' equity of a corporation that has assets of $435,000 and liabilities of $326,000.b. The assets of a corporation that has liabilities of $250,000, common stock of $100,000, and retained earnings of $85,000.
Answers
Answer:
a. $109,000
b. $435,000
Explanation:
a. The calculation of Stockholder equity is shown below:-
Stockholder equity = Assets - Liabilities
= $435,000 - $326,000
= $109,000
b. The calculation of assets is shown below:-
Assets = Liabilities + Common stock + Retained earnings
= $250,000 + $100,000 + $85,000
= $435,000
Therefore for computing thr stockholder equity and assets we simply applied the above formula.
A new aerated sewage lagoon is required in a small town. Earlier this year one was built on a similar site in an adjacent city for $2.3 million. The new lagoon will be 60% larger. Use the power sizing exponent 1.13 to estimate the cost of the new lagoon.Equipment or Facility Size Range Power- Sizing ExponentBlower, centrifugal 10,000- 100,000 ft^3/min 0.59Compressor 200-2100 hp 0.32Crystallizer, vacuum batch 500-7000 ft^2 0.37 Dryer, drum, single atmospheric 10-100 ft^2 0.4Fan, centrifugal 20,000-70,000 ft^3/min 1.17Fitter, vacuum rotary drum 10-1500 ft^2 0.48Lagoon, aerated 0.05-20 million gal/day 1.13Motor 5-20 hp 0.69Reactor, 300 psi 10-1000 gal 0.56Tank, atmospheric, horizontal 100-40,000 0.57
Answers
Answer:
The answer is "4.05 Million".
Explanation:
Formula:
[tex]\text{New Lagoon Cost = cost \times size^y}[/tex][tex]\text{New Lagoon Cost} = cost \times size^y[/tex] Where y is the exponent for power-sizing
[tex]= \$ 2.3 \times (1.65)^{1.13}\\\\ =\$ 2.3 \times 1.76098987\\\\ = 4.0502767\ \ OR \ \ 4.05[/tex]
The Lagoon carbonated power portion from the given table is 1.13, that's why the final answer is "$ 4.05 million"
Write each item listed below to the appropriate category . GOODS SERVICES Cutting Hair Doctor Computers Cleaning Business Tasks performed by people that customers will buy to satisty a want or need Jewelry Package Delivery Business Massage Therapist Groceries Material items or products that customers will buy to salisty a want or need Cars Clothing Dentist Ice Cream Waiting Tables Magazines Teaching
Answers
Answer:
Goods are actual tangible items that a person can buy in other to satisfy their needs and/ wants while Services are intangible but are provided to a person by another person in order to satisfy the needs and/or wants of the person the services are being provided for.
GOODS;
Material items or products that customers will buy to satisfy a want or needJewelryGroceriesComputersCarsClothingIce Cream MagazinesSERVICES
Tasks performed by people that customers will buy to satisfy a want or need Cutting Hair Doctor Cleaning Business Package Delivery Business Massage Therapist DentistWaiting Tables TeachingGive an example of something that is good for one person and bad for someone else.
Answers
Answer: Cigarette smoking
Explanation:
Utility is simply defined as the satisfaction or the enjoyment that an individual gets when the individual consumes a particular good.
An individual who smoked cigarette derives satisfaction from it and gets value for his or her money, therefore it's good for him or her. But in the case of someone who doesn't smoke, the person will see cigarette as something bad because it gives disutility to him or her.
Which of the following is NOT a category of barriers to interpersonal communication?a. individual differences among employeesb. situational factors, such as outside noisec. transmission problems, such as telephone staticd. informal communication networks, such as the grapevine
Answers
Answer:
d. informal communication networks, such as the grapevine
Explanation:
Barriers to interpersonal communication are arises when a perosn has lack of self-awareness, Sensitivity, and flexibility. These barriers affect the teamwork and efficiency of each team member and a whole team as well. individual differences among employees, situational factors such as outside noise, and transmission problems, such as telephone static are examples of barriers to interpersonal communication.
Which of the following is true of the Siemens bribery scandal? a not selected option a It stopped before the investigation began. b not selected option b The CEO was involved and condoned it. c not selected option c It seemed to be a long-term pattern. d not selected option d It was a false accusation. e not selected option e The company never admitted it broke the law with its actions.
Answers
Answer:
The true statement about the Siemens bribery scandal is:
b The CEO was involved and condoned it.
Explanation:
The 2008 Siemens scandal was an organized and deliberate effort by the company to bribe government officials in order to secure supply contracts from national governments. It was a worldwide act perpetrated by senior management officials with a long-term pattern. The massive bribery attracted a fine of $160 billion. It seems that bribery is an "embedded business culture in the company."
Why is accounting important?
a) Businesses, regulatory agencies, and the general public use accounting information.
b) Accounting information impacts businesses only.
c) Accounting is important only to those who are majoring in accounting.
Answers
Answer:
I belive it is A
Explanation:
I'm not 100 percent sure dude but i leaning towards A
The CFO is not responsible for which of the following departments?
A. Investor relations.
B. Research and development.
C. Legal.
D. Production.
Answers
Answer:
A. Investor relations
Explanation:
The chief financial officer of a company is responsible for maintaining the finances of the organisation. This includes financial planning, risk management, record keeping and financial reporting.
However investor relations has increasingly become part of their job role.
Investor relations requires oversight that emphasises audit accuracy, disclosure, reporting, and compliance practices. This needs a person with financial management background.
So this has become part of the portfolio of the CFO.
How much cash does the firm actually have? You are the CFO of ABC Corp. You are looking to hire a financial analyst, and you've given an assignment to two short-listed candidates. You've given the following information to the job applicants: The company reported net sales of $5, 625 million. Assume that there were no noncash sales. Operating costs (excluding depreciation and amortization) were 65% of the company's total revenues. Depreciation and amortization charges were 5% of total sales. Interest charges were 15% of earnings before interest and taxes (EBIT) with a tax rate of 40%. You've asked the candidates to give you a number that best represents the cash flow situation of the company. Jake submits a report stating that the firm has $861 million in cash. Kurt submits a report stating that the firm has $1, 142 million in cash available Based on the information given to them, which applicant has provided a better estimate of the company's current cash flows? Kurt Jake
Answers
Answer:
Kurt
Explanation:
The computation of the cash available is shown below;
But before that first we have to determine the net income which is shown below:
Net sale $5,625
Less:
Operating cost -$3,656.25 ($5,625 × 65%)
Depreciation -$281.25 ($5,625 × 5%)
EBIT $1,687.5
Less
interest -$253.125 ($1,687.50 × 15%)
Profit before tax $1434.375
Less:
Tax -$573.75 ($1,434.375 × 40%)
Net income $860.625
Add: depreciation $281.25
Cash $1,141.875
Hence, the Kurt provide a better estimation for the current cash flows
On January 1, Boston Enterprises issues bonds that have a $1,300,000 par value, mature in 20 years, and pay 7% interest semiannually on June 30 and December 31. The bonds are sold at par.
A. How much interest will Boston pay (in cash) to the bondholders every six months?
2. Prepare journal entries to record (a) the issuance of bonds on January 1; (b) the first interest payment on June 30; and (c) the second interest payment on December 31.
3. Prepare the journal entry for issuance assuming the bonds are issued at (a) 96 and (b) 104.
Answers
Answer:
1. $45,500
2. Journal entries
3. Journal entries
Explanation:
The Interest amount can be calculated by multiplying the face value of bonds with annual interest and the time period. Journal entries are given below
Requirement 1 (Interest amount)
Interest amount = Face value of bond x annual interest rate x 6/12
Interest amount = 1,300,000 x 7% x 6/12
Interest amount = $45,500
Requirement 2 (Journal entries to record issuance of bond and interest expense)
1 Jan (issuance of bond payable )
DEBIT CREDIT
Cash 1,300,000
Bonds payable 1,300,000
30 June (interest expense recorded)
DEBIT CREDIT
Cash 45,500
Bonds payable 45,500
31 Dec (interest expense recorded)
DEBIT CREDIT
Cash 45,500
Bonds payable 45,500
Requirement 3 (Journal entry for issuance assuming bonds are issued at a.96 b.104)
At 96
DEBIT CREDIT
Cash(1,300,000 x 96%) 1,248,000
Discount(1,300,000 - 1248,000) 52,000
Bonds payable 1,300,000
At 104
DEBIT CREDIT
Cash(1,300,000 x 104%) 1,352,000
Premium (1,300,000 - 1248,000) 52,000
Bonds payable 1,300,000
Holton is a manager at a small restaurant.what can he do to ensure the workplace offers a safe environment for employees?
Answers
Answer:
Require all employees to wear slip resistant shoes.
Answer:
warn them of dangers around the kitchen, distribute panphlets than help the workers understand the risks, where to get help in case of an accident and make sure to contact their doctor or 911 as soon as the injury occurs to keep both boss and employee out of serious legal troubles
Which of the following is not a principal dimension of a servicescape?
A) spatial layout and functionality
B) signs, symbols and artifacts
C) facility location
D) ambient conditions
Answers
Answer:
C) facility location
Explanation:
There are three components or principle of servicescape that are applied for the study as a measure for satisfaction that involves the condition related to the ambient, spatial layout & functionality, and the symbol, sign & artifacts
But do not include the facility location
Therefore the option C is selected as it does not involed in the service scape
____________________ are a pool of assets that trade like stocks on an exchange. They track a group of stocks, such as all stocks in an index or stocks of companies in emerging markets.
Answers
Answer:
Exchanged-traded funds
Explanation:
Exchanged-traded funds are forms of investment that are usually traded on stock exchange the way other securities are traded, but they have an underlying asset.
Unlike mutual funds ETF are traded on the stock exchange at all periods of the day.
Assets held by ETF includes, shares, currencies, bonds, and commodities like gold and oil.
Value of trade is kept close to the net value of the underlying asset.
jk I figured it out hahaha
Answers
Answer:
thats great♡♡♡♡♡♡
Explanation:
just need points♡♡♡♡
Why is it smart to keep you cool when making claim, and how should you go about it?
Answers
Answer:It is important to keep calm when making a claim because it gives off the impression that you know what you're talking about. Going crazy and yelling will make you look immature and no one would want to hear your claim.
Explanation:
It is smart to keep cool while making a claim, guarantees clear-cut explanation and direct tone of the message, and go with the proper and full knowledge about it.
What is making claim?Making claim must takes place when an individual's property has been damaged, or he/she have been hurt. He can sole claim something that is made by one of the titled dangers recited in the policy.
It is important while making a claim that an individual must have a full knowledge about the claim and he/she must be cool at the same time. It supports the insurer work peacefully.
Insurer will be bright to clear off the claims of groups who are conjunct and do not overact with the numerical quantity of the claim.
Therefore, the person making a claim must have to be cool.
Learn more about making claim, refer to:
https://brainly.com/question/22898077
The following information is for S&P Enterprises for the month of September: Direct materials $82,000 Direct labor $51,000 Variable manufacturing overhead $32,000 Fixed manufacturing overhead $30,000 Variable selling expense $16,000 Fixed selling expense $15,000 Variable administrative expense $9,000 Fixed administrative expense $18,000 . (Enter your answer as a Total period cost for the month of September was $ whole number) The following information is for S&P Enterprises for the month of September: ___________.
Answers
Answer and Explanation:
The computation of the total period cost is shown below:
Variable selling expense $16,000
Fixed selling expense $15,000
Variable administrative expense $6,000
Fixed administrative expense $18,000
Total period Cost $51,000
ANd, the total fixed cost is
Fixed Manufacturing overheads $30,000
Fixed selling expenses $15,000
fixed admin expenses $18,000
Total fixed cost $63,000
We simply added all the above items
Which of the following best describes how the Federal Reserve Bank helps
banks during a bank run?
A. The Federal Reserve Bank regulates exchanges to prevent the
demand for withdrawals from rising above the required reserve
ratio.
B. The Federal Reserve Bank has the power to take over a private
bank if customers demand too many withdrawals.
C. The Federal Reserve Bank can provide a short-term loan to banks
to prevent them from running out of money.
D. The Federal Reserve Bank acts as an insurance company that
pays customers if their bank fails.
Answers
Answer:
C. The Federal Reserve Bank can provide a short-term loan to banks
to prevent them from running out of money.
Explanation: