Planner Corporation owns 60 percent of Schedule Company’s voting shares. During 20X3, Planner produced 25,000 computer desks at a cost of $82 each and sold 10,000 of them to Schedule for $94 each. Schedule sold 7,000 of the desks to unaffiliated companies for $130 each prior to December 31, 20X3, and sold the remainder in early 20X4 for $140 each. Both companies use perpetual inventory systems. Required: a. What amounts of cost of goods sold did Planner and Schedule record in 20X3?

Answers

Answer 1

Answer:

Cost of Goods sold for Planner:

= Goods sold * Cost to produce

= 10,000 * 82

= $820,000

Cost of Goods sold for Schedule:

= Goods sold * Cost of acquisition

= 7,000 * 94

= $658,000


Related Questions

For each of the following items, indicate by using the appropriate code letter, how the item should be reported in the statement of cash flows, using the direct method.
Potential Matches:
1 : Declaration and payment of a cash dividend.
2 : Decrease in accounts receivable during a period.
3 : Conversion of bonds payable into common stock.
4 : Purchase of land for cash.
5 : Decrease in merchandise inventory during a period.
6 : Decrease in accounts payable during a period.
7 : Issuance of preferred stock for cash.
8 : Sale of equipment for cash at book value.
: Added in determining cash receipts from customers
: Added in determining cash payments to suppliers
: Deducted in determining cash payments to suppliers
: Cash outflow-investing activity
: Cash inflow-investing activity
: Cash outflow-financing activity
: Cash inflow-financing activity
: Significant non-cash investing and financing activity

Answers

Answer and Explanation:

The matching is as follows;

1. The cash dividend should belong from financing activity as a cash outflow

2. If there is an decrease in the account receivable so it would be added for calculating the cash receipts from customers

3. The bond payable would be converted into common stock so this is a non-cash investing and financing activity

4. The land should be purchased for cash so it belong from investing activity as a cash outflow

5. There is a reduction in the merchandise inventory so it would be subtracted for calculating the cash payment made to suppliers

6. There is a reduction in the account payable  so it would be added for calculating the cash payment made to suppliers

7. The preferred stock is issued for cash belong from financing activity as a cash inflow

8. The equipment is sold at the book value belong from investing activity as a cash inflow

Carmelita Inc., has the following information available:
Costs from Beginning Inventory Costs from Current Period Direct materials $2,000 $22,252 Conversion costs 6,200 150,536
At the beginning of the period, there were 500 units in process that were 60% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,500 units were started and completed. Ending inventory contained 340 units that were 30% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method.
The cost of completing a unit during the current period was:______.
a. $34.88
b. $36.19
c. $35.95
d. $35.89

Answers

Answer:

c. $35.95

Explanation:

Step 1 : Equivalent units

Materials

To finish Opening Work In Process (500 x 0%)               0

Started and Completed (4,500 x 100%)                     4,500

Ending Work in Process (340 x 100%)                          340

Equivalent units of Production                                    4,840

Conversion

To finish Opening Work In Process (500 x 40%)        200

Started and Completed (4,500 x 100%)                   4,500

Ending Work in Process (340 x 30%)                           102

Equivalent units of Production                                  4,802

Step 2 : Cost per equivalent unit

Materials = $22,252  ÷ 4,840 = $4.60

Conversion Costs = $150,535  ÷   4,802 = $31.35

Therefore,

Total Unit Cost = $4.60 + $31.35 = $35.95

From the list below, which items are classified as a materials activity:

a. Raw materials used
b. Raw materials beginning inventory
c. Raw materials purchases
d. Work in process beginning inventory
e. Goods manufactured
f. Direct labor used
g. Factor overhead used

Answers

im gonna go with e sorry if it’s wrong

Sandra hired Jeff to work as a tax driver for Sandra. Jeff had a long criminal record for violent assaults, including three instances of vehicular homicide. However, Sandra was not aware of this and she does not check employee's criminal records. After a long hot summer day of city driving, Ben, another driver, cut Jeff off and slightly dented Jeff's cab. Jeff became enraged. He pulled Ben out of his car and hit him with a brick that was lying on the side of the road. Ben suffered serious and permanent injuries and wants to sue. Who is liable in this situation: Group of answer choices Both Jeff and Sandra because of the employer's direct liability for wrongful hiring Neither since Ben was the instigator Only Jeff as Sandra was unaware of Jeff's criminal history Only Sandra because of vicarious liability

Answers

Answer: Both Jeff and Sandra because of the employer's direct liability for wrongful hiring

Explanation:

Based on the information given above, both Jeff and Sandra are liable. Jeff committed the offence and Sandra is liable because of her direct liability for wrongful hiring.

Direct liability refers to an economic entity's legal obligation as a result of an act of negligence which results in damages to properties or injuries to humans.

Therefore, both Jeff and Sandra are liable.

The difference between production possibilities frontiers that are bowed out and those that are linear is that a. bowed out production possibilities frontiers illustrate tradeoffs where linear production possibilities frontiers do not. b. bowed out production possibilities frontiers show increasing opportunity cost where linear ones show constant opportunity cost. c. bowed out production possibilities frontiers are the result of perfectly shiftable resources where linear production possibilities frontiers are not. d. linear production possibilities frontiers illustrate real world conditions more than bowed out production possibilities frontiers.

Answers

Answer:

b

Explanation:

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.  

The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.  

Factors that cause the PPF to shift  

1. changes in technology.  

2. changes in available resources.  

3. changes in the labour force.  

a linear PPC means that there is a constant opportunity cost. Linear PPC are rear

Assume Caterpillar, Inc. (CAT) reports investments in affiliated companies, consisting mainly of its 50% ownership of Shin Caterpillar Mitsubishi, Ltd. Caterpillar reports those investments on its balance sheet at $576 million, and provides the following footnote in its 10-K report.

Investments in unconsolidated affiliated companies Our investments in affiliated companies accounted for by the equity method consist primarily of a 50% interest in Shin Caterpillar Mitsubishi Ltd. (SCM) located in Japan. Combined financial information of the unconsolidated affiliated companies accounted for by the equity method (generally on a three-month lag, e.g., SCM results reflect the periods ending September 30) was as follows:

Years Ended December 31 (Millions of Dollars) 2011 2010 2009
Results of operations:
Sales $4,007 $4,420 $4,140
Cost of sales 3,210 3,526 3,257
Gross profit $797 $894 $883
Profit $157 $187 $161
Caterpillar's profit $73 $81 $73

Sales from SCM to Caterpillar of approximately $1.67 billion, $1.81 billion and $1.73 billion in 2011, 2010 and 2009 respectively, are included in the affiliated company sales. In addition, SCM purchased $268 million, $273 million and $282 million of products from Caterpillar in 2011, 2010 and 2009, respectively.


December 31 (Millions of Dollars) 2011 2010 2009
Financial position:
Assets
Current assets $2,062 $1,807 $1,714
Property, plant and equipment-net 1,286 1,119 1,120
Other assets 173 176 194
3,521 3,102 3,028
Liabilities
Current liabilities 1,546 1,394 1,348
Long-term debt due after one year 269 309 318
Other liabilities 393 145 188
2,208 1,848 1,854
Ownership $1,313 $1,254 $1,174

Ceterpillar's investment in unconsolidated affiliated
companies, December 31 (millions of dollars) 2011 2010 2009
Investment in equity method companies $576 $542 $540
Plus: Investment in cost method companies 16 20 25
Investment in unconsolidated affiliated companies $592 $562 $565

Required:
What assets and liabilities of unconsolidated affiliates are included on CAT's balance sheet as a result of the equity method of accounting for those investments?

Answers

Answer:

The assets and liabilities of the unconsolidated affiliates are not included on CAT's balance sheet using the equity method of accounting.

The only accounts that are included are CAT's investments in the unconsolidated affiliated companies of $592, $562, and $565 for the three years and CAT's share of Shin Caterpillar Mitsubishi, Ltd. profits or losses, totalling $157, $187, and $161 for the years 2011, 2010, and 2009 respectively.

Explanation:

a) Data:

Caterpillar's investment in unconsolidated affiliated  companies,

December 31 (millions of dollars)                                 2011     2010      2009

Investment in equity method companies                  $576     $542      $540

Plus: Investment in cost method companies                  16         20          25

Investment in unconsolidated affiliated companies $592    $562     $565

Shin Caterpillar Mitsubishi, Ltd.

December 31 (millions of dollars)  2011     2010      2009

Profit                                               $157     $187        $161

Caterpillar's share (50%)              $78.5    $93.5      $80.5

b) The equity method does not require consolidating the accounts of the subsidiaries with the parent's.  The parent reports its investments in the and its share of profits from the subsidiaries.

Adam Ant lives in the country of Petertopia, which has a tax rate of 5% on the first $20,000 in taxable income, 10% on the next $40,000 in taxable income, and 15% on all taxable income above $60,000. Petertopia allows a standard deduction of $12,200 for single taxfilers, and $24,400 for married taxfilers. There are no other tax deductions or credits available. Adam has gross income of $35,000. As a single person, he takes a standard deduction of $12,200. Adam's taxable income is $________ his marginal tax rate is ______% and his total taxes due are $ ________(Please only enter numbers in the blanks. Round your answers to 2 decimal places if necessary.)

Answers

Answer:

Adam Ant

Adam's taxable income is $__22,800__ his marginal tax rate is __3.66__% and his total taxes due are $ ___$1,280__

Explanation:

a) Data and Calculations:

Tax rates:

5% on the first $20,000

10% on the next $40,000

15% on all taxable income above $60,000

Standard deduction = $12,210 for single taxpayers

Standard deduction = $24,400 for married taxpayers

Adam's Gross income = $35,000

Standard deduction =       12,200

Taxable income =          $22,800

Tax due:

5% on the first              ($20,000) = $1,000

10% on the next $40,000  2,800 =      280

Total taxes due = $1,280

Marginal rate = $1,280/$35,000 * 100 = 3.66%

On January 1, Year 1, Hol Company hired a general contractor to begin construction of a new office building. Hol negotiated a $900,000, five-year, 10% loan on January 1, Year 1, to finance construction. Payments made to the general contractor for the building during Year 1 amount to $1,000,000. Payments were made evenly throughout the year. Construction is completed at the end of Year 1, and Hol moves in and begins using the building on January 1, Year 2. The building is estimated to have a 40-year life and no residual value. On December 31, Year 3, Hol Company determines that the market value for the building is $970,000. On December 31, Year 5, the company estimates the market value for the building to be $950,000.Required:Use the two alternative methods allowed by IAS 16 with respect to the measurement of property, Plant and equipment subsequent to initial recognition to determined.

Answers

Question Completion:

a. Determine the amount of the building that would be reported in the balance sheet at the end of Years 1 - 5.

b. Determine the amount that would be recognized in the income statement  related to the building, in Years 1 - 5.

Answer:

Hol Company

a.   Balance Sheet        Year 1       Year 2      Year 3      Year 4      Year 5

Building (Cost or revalued

amount)            $1,000,000 $1,000,000 $970,000 $970,000 $950,000

b. Income Statement    Year 1       Year 2      Year 3      Year 4      Year 5

Depreciation Expense $25,000   $25,000  $25,526  $25,526  $26,389

Revaluation Loss            $0             $0          $30,000   $0           $20,000

Explanation:

a) Data and Calculations:

Year 1 Cost of building = $1,000,000

Year 3 Revalued building = $970,000

Year 5 Revalued building = $950,000

b) IAS 16 allows the use of the Cost model and the Revaluation model.

what is marketing shortly ​

Answers

Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses.

Beginning inventory, purchases, and sales for Item Zeta9 are as follows: Oct. 1 Inventory 200 units at $30 7 Sale 160 units 15 Purchase 180 units at $33 24 Sale 150 units Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31. a. Cost of goods sold on October 24 $fill in the blank 1 b. Inventory on October 31 $fill in the blank 2

Answers

Answer:

a. $4,830

b. $2,310

Explanation:

The computation is shown below:

a. The cost of goods sold as on Oct 24 is

Units sold from Oct 1 Inventory is 40 (200 units - 160 units)

And, From Oct. 15 Purchase is 110 (150 units - 40 units)

Now  

Cost of goods sold on October 24 is $4,830 (40 × 30) + (110 × 33)

b. The inventory as on Oct 31 is

= (180 - 110) × $33

= $2,310

8. The company just paid an annual dividend of $1.42 a share last month. Today, the company announced that future dividends will be increasing by 1.3 percent annually. If you require a return of 14.6 percent, how much are you willing to pay to purchase one share of this stock today

Answers

Answer:

$10.82

Explanation:

the amount i would pay for the stock would be its intrinsic value

according to the constant dividend growth model

price = d1 / (r - g)

d1 = next dividend to be paid

r = cost of equity

g = growth rate

1.42 x 1.013) / 0.146 - 0.013 = $10.82

The following transactions were completed by The Wild Trout Gallery during the current fiscal year ended December 31: Jan. 19. Reinstated the account of Arlene Gurley, which had been written off in the preceding year as uncollectible. Journalized the receipt of $1,935 cash in full payment of Arlene’s account. Apr. 3. Wrote off the $11,090 balance owed by Premier GS Co., which is bankrupt. July 16. Received 25% of the $19,900 balance owed by Hayden Co., a bankrupt business, and wrote off the remainder as uncollectible. Nov. 23. Reinstated the account of Harry Carr, which had been written off two years earlier as uncollectible. Recorded the receipt of $3,155 cash in full payment. Dec. 31. Wrote off the following accounts as uncollectible (one entry): Cavey Co.,$8,340; Fogle Co., $2,475; Lake Furniture, $6,365; Melinda Shryer, $1,800. Dec. 31. Based on an analysis of the $979,800 of accounts receivable, it was estimated that $42,600 will be uncollectible. Journalized the adjusting entry.

Answers

Answer:

The Wild Trout Gallery

Adjusting Journal Entry:

Dec. 31:

Debit Bad Debts Expense $87,595

Credit Allowance for Doubtful Accounts $87,595

To record bad debts expense for the year and bring the Allowance for Doubtful Accounts to a credit balance of $42,600.

Explanation:

a) Data and Analysis:

Jan. 19: Accounts receivable (Arlene Gurley) $1,935 Allowance for Doubtful Accounts $1,935

Apr. 3: Allowance for Doubtful Accounts $11,090 Accounts receivable (Premier GS Co.) $11,090

July 16: Cash $4,975 Allowance for Doubtful Accounts $14,925 Accounts receivable (Hayden Co.) $19,900

Nov. 23: Accounts receivable (Harry Carr) $3,155 Allowance for Doubtful Accounts $3,155

Dec. 31: Allowance for Doubtful Accounts $18,980 Accounts receivable $18,980 (Cavey Co.,$8,340; Fogle Co., $2,475; Lake Furniture, $6,365; Melinda Shryer, $1,800)

Dec. 31: Bad Debts Expense $87,595 Allowance for Doubtful Accounts $87,595

Allowance for Doubtful Accounts

Accounts Title                   Debit          Credit

Accounts receivable (Arlene Gurley) $1,935

Accounts receivable

 (Premier GS Co.)         $11,090

Accounts receivable

 (Hayden Co.)              $14,925

Accounts receivable (Harry Carr)     $3,155

Accounts receivable   $18,980

Bad Debts                                       $82,505

Balance c/d                $42,600

Select the correct answer.
Which of these trainings does the hospitality certification provide?
OA. ensures the safety of the food served
OB. safely serve alcohol to other individuals
OC. food has been produced and handled according to the recognized standards
OD. create the ultimate experience

Answers

Answer:

I think its all of the above or D

In 2013 cumulative preferred shareholders should have received a dividend of $10,000, but the company didn't pay a dividend. In 2014 the preferred shareholders should receive a distribution of $11,000. If the company pays $50,000 in 2014 of dividends how much will the preferred shareholders receive

Answers

Answer: $21,000

Explanation:

Cumulative preference shares should always get paid their dividends. If a situation arises where the company is unable to pay this dividend in a year, the dividends will be accrued until such a time as the company is able to pay.

Dividend to be received in 2014 is therefore:

= 2013 dividend that was not paid + 2014 dividend

= 10,000 + 11,000

= $21,000

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $47,500 and $2,000, respectively. During 2022, Coolwear wrote off $650 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $4,300 at December 31, 2022. Bad debt expense for 2022 would be:

Answers

Answer:

Bad debt expense for 2022 would be $2,950.

Explanation:

Bad debt expense for 2022 can be calculated as follows:

Bad debt expense for 2022 = Allowance for uncollectible accounts of  at December 31, 2022 - (Balances in Allowance for Uncollectible Accounts on December 31, 2021 - Accounts receivable written off) = $4,300 - ($2,000 - $650) = $2,950

Therefore, Bad debt expense for 2022 would be $2,950.

Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 5,700 65% Conversion costs $ 6,800 45% A total of 6,500 units were started and 5,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 125,500 Conversion costs $ 207,000 The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The total cost transferred from the first processing department to the next processing department during the month is closest to: (Round your intermediate calculations to 3 decimal places.)

Answers

Answer:

Annenbaum Corporation

The total cost transferred from the first processing department to the next processing department during the month is closest to:

= $322,022.

Explanation:

a) Data and Calculations:

Units in Beginning WIP Inventory  400

Units started in the period         6,500

Units transferred out                  5,900

Units in Ending WIP Inventory    1,000

                                        Materials costs    Conversion costs

Beginning WIP Inventory      $ 5,700 (65%)      $ 6,800 (45%)

Costs added during month 125,500                207,000

Total costs of production   $131,200               $213,000

Equivalent units:              Materials            Conversion

Units transferred out        5,900                   5,900 (100%)

Ending WIP Inventory          500 (50%)            350  (35%)

Total equivalent units      6,400                    6,250

Cost per equivalent units:  Materials            Conversion

Total costs of production   $131,200               $213,000

Total equivalent units           6,400                     6,250

Cost per equivalent unit       $20.50                 $34.08

Cost assigned to:

                                        Materials costs         Conversion costs   Total

Units transferred out        $120,950                  $201,072            $322,022

                                       ($20.5*5,900)         ($34.08**5,900)

Ending WIP Inventory         $10,250                    $11,928                $22,178

                                       ($20.5*500)              ($34.08**350)

Listed here are 20 control plans discussed in the chapter. On the blank line to the left of each control plan, insert a P (preventive), D (detective), or C (corrective) to classify that control most accurately. If you think that more than one code could apply to a particular plan, insert all appropriate codes and briefly explain your answer.Code Control Plan _________1. Library controls _________2. Program change controls _________3. Fire and water alarms_________4. Fire and water insurance _________5. Install batteries to provide backup for temporary loss in power _________6. Backup and recovery procedures _________7. Service level agreements _________8. IT steering committee 9. Security officer _________10. Operations run manuals _________11. Rotation of duties and forced vacations _________12. Fidelity bonding _________13. Personnel management (supervision) _________14. Personnel termination procedures _________15. Segregation of duties _________16. Strategic IT plan _________17. Disaster recovery planning _________18. Restrict entry to the computer facility through the use of employee badges, guest sign- in, and locks on computer room doors _________19. Access control software _________20. Personnel development controls

Answers

Answer:

Code           Control Plan

____D_____1. Library controls

____P_____2. Program change controls

____D_____3. Fire and water alarms

____C_____4. Fire and water insurance

____C_____5. Install batteries to provide backup for temporary loss in power

____C_____6. Backup and recovery procedures

____P_____7. Service level agreements

____C_____8. IT steering committee

____P_____9. Security officer

____P_____10. Operations run manuals

____D_____11. Rotation of duties and forced vacations

____C_____12. Fidelity bonding

____P_____13. Personnel management (supervision)

____C_____14. Personnel termination procedures

____P_____15. Segregation of duties

____D_____16. Strategic IT plan

____C_____17. Disaster recovery planning

____P_____18. Restrict entry to the computer facility through the use of employee badges, guest sign- in, and locks on computer room doors

____P_____19. Access control software

____D_____20. Personnel development controls

Explanation:

P (preventive) controls protect against errors occurring.

D (detective) controls discover errors that have already occurred.

C (corrective) controls correct errors that have already occurred.

Steeler Towel Company estimates its overhead to be $203,000. It expects to have 58,000 direct labor hours costing $1,015,000 in labor and utilizing 14,500 machine hours. Calculate the predetermined overhead rate using: Round your answers to two decimal places. A. Direct labor hours $fill in the blank 1 per direct labor hour B. Direct labor dollars $fill in the blank 2 per direct labor dollar C. Machine hours $fill in the blank 3 per machine hour

Answers

Answer and Explanation:

The computation of the predetermined overhead rate in the following cases are shown below:

As we know that

Predetermined overhead rate = Estimated overhead ÷ activity level

1.

= $203,000 ÷ 58,000

= $3.50 per direct labor hour

2.  

= $203,000 ÷ $1,015,000

= $0.20 per direct labor dollar

3.

= $203,000 ÷ 14,500

= $14.00 per machine hour

Urban Drapers Inc., a drapery company, has been successfully doing business for the past 15 years. It went public eight years ago and has been paying out a constant dividend of $2.24 per share every year to its shareholders. In its most recent annual report, the company informed investors that it expects to maintain its constant dividend into the foreseeable future and that dividends are not expected to increase.

If you are an investor who requires a 25.50% rate of return and you expect dividends to remain constant forever, then your expected valuation for Urban Drapers stock today is ________ per share. Urban Drapers has a sister company named Super Carpeting Inc. (SCI). SCI just paid a dividend (D_0) of $2.64 per share, and its annual dividend is expected to grow at a constant rate (g) of 5.50% per year. If the required return (r_s) on SCI's stock is 13.75%, then the intrinsic value of SCI's shares is _______ per share.

Answers

Answer:

a. The expected valuation for Urban Drapers stock today is $8.78 per share

b. The intrinsic value of SCI's shares is $33.76 per share.

Explanation:

a. Calculation of the expected valuation for Urban Drapers

Expected valuation for Urban Drapers stock today = Constant annual dividend per share /  Required rate of return = $2.24 / 25.50% = $8.78

Theerefore, the expected valuation for Urban Drapers stock today is $8.78 per share.

b. Calculation of the intrinsic value of SCI's shares

This can be calculated using the using the Gordon growth model (GGM) formula as follows:

P = D_1 / (r - g) ............................ (1)

Where,

P = current stock price = Intrinsic value of SCI's shares = ?

D_1 = Next dividend = D_0 * (100% + g)  = $2.64 * (100% + 5.50%) = $2.7852

r = required return = 13.75%, or 0.1375

g = Expected annual dividend growth rate = 5.50%, or 0.0550

Substituting the values into equation (1), we have:

P = $2.7852 / (0.1375 - 0.0550)

P = $33.76

Therefore, the intrinsic value of SCI's shares is $33.76 per share.

what is mean, meadian, mode ?

Answers

Answer:

Can u tell us for what tho?

Explanation:

Answer:

A mean is the total of numbers divided by how many numbers there are, A mode is a number that appears the most, and a median is the middle number of the data set.

Explanation:

I hoped I helped :)

The notes to a recent annual report from Weebok Corporation indicated that the company acquired another company, Sport Shoes, Inc. Assume that Weebok acquired Sport Shoes on January 5 of the current year. Weebok acquired the name of the company and all of its assets for $511,000 cash. Weebok did not assume the liabilities. The transaction was closed on January 5 of the current year, at which time the balance sheet of Sport Shoes reflected the following book values and an independent appraiser estimated the following market values for the assets:

Sport Shoes, Inc.
January 5 of the Current Year Book Value Market Value
Accounts receivable (net) $35,000 $35,000
Inventory 210,000 183,000
Fixed assets (net) 23,000 46,500
Other assets 10,000 16,000
Total Assets $278,000
Liabilities $72,000
Stockholders' equity 206,000

Market values for the purchased assets were provided to Weebok by an independent appraiser.

Required:
Compute the amount of goodwill resulting from the purchase.

Answers

Answer: $230,500

Explanation:

Goodwill is the amount over the value of a company that is purchased for.

Fair market value is the relevant value used in goodwill calculation because it represents the current value of the assets acquired.

Goodwill = Acquisition price - Fair market values of the assets

= 511,000 - 35,000 - 183,000 - 46,500 - 16,000

= $230,500

Pension data for David Emerson Enterprises include the following:
($ in millions)
Discount rate, 10%
Projected benefit obligation, January 1 $320
Projected benefit obligation, December 31 500
Accumulated benefit obligation, January 1 335
Accumulated benefit obligation, December 31 450
Cash contributions to pension fund, December 31 185
Benefit payments to retirees, December 31 61
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.

Answers

Answer:

$209

Explanation:

Calculation to determine the service cost component of pension expense for the year ended December 31

Projected benefit obligation, December 31 500

Add Benefit payments to retirees, December 31 $61

Less Interest cost ($32)

(10%$320)

Less Projected benefit obligation, January 1 ($320)

Service cost $209

($500+$61-$32-$320)

Therefore the service cost component of pension expense for the year ended December 31 will be $209

A holiday sales flyer advertised a video game system for a significantly reduced price and
video game with purchase. Later that day, the sales associate told you that the store is out of
both items. Instead, you were offered a different system and games at full retail prices. What is this type of fraud called?

Answers

I believe it’s false advertising.

It’s like bait, they get you in the store only to tell you they don’t have the item, then proceed to sell you something much more expensive.

What is the net present value of a project with the following cash flows if the required rate of return is 9 percent? Year Cash Flow 0 -$42,398 1 18,201 2 21,219 3 17,800 Group of answer choices -$1,574.41 -$1,208.19 $5,904.64 $6,029.09 $6,311.16

Answers

Answer:

$5,904.64

Explanation:

We discount the future cashflows to their present values to determine the net present value.

Using the CFj function of the Financial Calculator, this will be set as :

-$42,398    CFj 0

$18,201       CFj 1

$21,219       CFj 2

$17,800      CFj 3

I/Yr = 9 %

Therefore,

the net present value is $5,904.64

Calculate Tim's marginal revenue and marginal cost for the first seven frying pans he produces, and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost at each quantity.

Answers

Answer:

1. Profit maximization using total cost and total revenue curves Suppose Juanita runs a small business that manufactures teddy bears. Assume that the market for teddy bears is a competitive market, and the market price is $20 per teddy bear. The following graph shows Juanita's total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for teddy bears quantities zero through seven (inclusive) that Juanita produces. Total Revenue Total Cost Profit TOTAL COST AND REVENUE (Dollars) 0 1 2 6 7 8 3 4 5 QUANTITY (Teddy bears) Calculate Juanita's marginal revenue and marginal cost for the first seven teddy bears she produces, and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost at each quantity.

Marginal Revenue Marginal Cost COSTS AND REVENUE (Dollars per teddy bear) 0 1 2 6 7 8 3 4 5 QUANTITY (Teddy bears) Juanita's profit is maximized when she produces teddy bears. When she does this, the marginal cost of the last teddy bear she produces is , which is than the price Juanita receives for each teddy bear she sells. The marginal cost of producing an additional teddy bear (that is, one more teddy bear than would maximize her profit) is $ , which is than the price Juanita receives for each teddy bear she sells. Therefore, Juanita's profit-maximizing quantity corresponds to the intersection of the curves. Because Juanita is a price taker, this last condition can also be written as

What is the main reason why a boycott might not be successful?
A. Many consumers won't stay away from a company that offers the
lowest prices.
B. The news media often refuses to cover boycotts for fear of driving
away advertisers.
C. Companies will only change their ways if their sales and profits
are affected
D. The company is able to spend more money lobbying the
government

Answers

Answer:

A

Explanation:

cause i searched it and i believe it ryt hope it helpful enough

Answer:

The correct answer is A) Many consumers won't stay away from a company that offers the lowest prices.

Explanation:

Verified by correct test results.

Racing Bikes $929,000 $266,000 $409,000 254,000 Dirt Mountain Bikes Total Bikes Sales Variable manufacturing and selling 467,000 116,000 197,000 154,000 expenses Contribution margin Fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of product-line managers Allocated common fixed expenses Total fixed expenses 462,000 150,000 212,000 100,000 70,200 44,000 115,900 185, 800 20,800 15,400 36,700 50,800 123,700 $ 46,100 $ 26,400 $43,400 $ (23,700) 8,800 40,600 7,600 38,600 81,800 168,600 21,000 40,600 53,200 123,600 415,900 Net operating income (loss) "Allocated on the basis of sales dollars Management is concerned about the continued losses shown by the racing bikes and wants a recommendation as to whether or not the line should be discontinued. The special equipment used to produce racing bikes has no resale value and does not wear out Required: 1. What is the financial advantage (disadvantage) per quarter of discontinuing the Racing Bikes? 2. Should the production and sale of racing bikes be discontinued? 3. Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long-run profitability of the various product lines. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a properly formatted segmented income statement that would be more useful to management in assessing the long- run profitability of the various product lines. Totals Dirt Bikes Mountain Bikes Racing Bikes Sales Variable manufacturing and selling expenses Contribution margin (loss) 0 0 Traceable fixed expenses: Advertising, traceable Depreciation of special equipment Salaries of the product line managers Total traceable fixed expenses 0 0 0 Product line seament marain (loss) ol $

Answers

Answer:

Racking Bikes

1. The financial disadvantage per quarter of discontinuing the Racing Bikes is the loss of $27,100 product contribution made by the Racing Bikes towards offsetting the common allocated fixed costs.

2. No.  The production and sale of the racing bikes should not be discontinued.

3. Segmented Income Statement:

                                     Total Bikes   Dirt Bikes    Mountain     Racing

                                                                                Bikes          Bikes  

Sales                              $929,000  $266,000   $409,000     254,000

Variable manufacturing and

selling  expenses           467,000      116,000       197,000      154,000

Contribution margin     $462,000   $150,000    $212,000   $100,000

Traceable Fixed Expenses:

Advertising                        70,200          8,800       40,600       20,800

Depreciation                     44,000        21,000          7,600        15,400

Salaries:line manager      115,900       40,600       38,600        36,700

Total traceable

  fixed expenses         $230,100      $70,400     $86,800     $72,900

Product profit margin  $231,900      $79,600   $125,200      $27,100

Explanation:

a) Data and Calculations:

                                     Total Bikes   Dirt Bikes    Mountain     Racing

                                                                                Bikes          Bikes  

Sales                              $929,000  $266,000   $409,000     254,000

Variable manufacturing and

selling  expenses           467,000      116,000       197,000      154,000

Contribution margin     $462,000   $150,000    $212,000   $100,000

Traceable Fixed Expenses:

Advertising                       70,200          8,800        40,600       20,800

Depreciation                    44,000         21,000          7,600        15,400

Salaries:line manager    115,900         40,600       38,600        36,700

Allocated common

 fixed expenses           185,800         53,200        81,800        50,800

Total fixed expenses $415,900     $123,600    $168,600    $123,700

Net operating income

(loss)                            $46,100      $26,400      $43,400    ($23,700)

In June of this year, Dr. and Mrs. Bret Spencer traveled to Denver to attend a three-day conference sponsored by the American Society of Implant Dentistry. Bret, a self-employed practicing oral surgeon, participated in scheduled technical sessions dealing with the latest developments in surgical procedures. On two days, Mrs. Spencer attended group meetings where various aspects of family tax planning were discussed. On the other day, she went sightseeing. Mrs. Spencer does not work for her husband, but she prepares their tax returns and handles the family investments. Expenses incurred in connection with the conference are summarized below.Airfare (two tickets) $2,600Lodging (single and double occupancy are the same rate—$225 each day) 675Meals ($370 x 3 days)* 1110Conference registration fee (includes $120 for Family Tax Planning sessions) 580Car rental 305*Split equally between Dr. and Mrs. Spencer. If an amount is zero, enter "0". If required, round your interim calculations to nearest dollar.How much, if any, of these expenses can the Spencers deduct?Mrs. Spencer's activities do not constitute a trade or business. Therefore, she can deduct $fill in the blank 2 of her expenses.Bret's deductible expenses are:Airfare (one ticket) $Lodging $Meals $ Less: 50% limit $ Registration fee $Car rental $Total $

Answers

Answer:

$3,017

Explanation:

Calculation to determine How much, expenses can the Spencers deduct

Airfare (one ticket) $1,300

(2,600/2)

Lodging $675

Meals $555 [($1,110/2)]

Less: 50% limit $278

$277 [$555-$278]

Registration fee ($580 − $120) $460

Car rental $305

Total $3,017

($1,300+$675+$277+$450+$305)

Therefore the expenses that Spencers can deduct will be $3,017

A company had sales revenue of $900,000 for the year. In addition, the following information is available related to the cost of the units sold: Total purchase cost $ 480,000 Freight charges 10,000 Purchase discounts 25,000 Purchase returns 50,000 Operating expenses 200,000 For what amount would the company report gross profit

Answers

I uploaded the answer

(TYPE 6) Given that beginning inventory level is 660 units, total forecasted demand over the next 12 months is 18,000 units, and desired ending inventory level at the end of the 12th month is 900 units, what is the cost of production per month if a level strategy is used and per unit cost of production is $22

Answers

Answer: $33,440

Explanation:

First find the units to be produced for the year:

= Forecasted demand + Closing inventory - Opening inventory

= 18,000 + 900 - 660

= 18,240 units

Cost of production:

= 18,240 * 22

= $401,280

Cost per month:

= 401,280 / 12

= $33,440

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