Answer:
Stock DEC 31st 2017 23,680
Carriage outward 2,000
Carriage inwards 3,100
Returns 2050 3,220
Purchases and sales 118,740 186,000
Salaries and wages 38,620
Rent 3040
Insurance 780
Motor expenses 6,640
Office expenses 2160
Lighting and heating expenses 1,660
General expenses 3140
Premises 50,000
Motor vehicles 18,000
Fixtures and fittings 3,500
Debtors and creditors 38,960 17,310
Cash at bank 4820
Drawings 12,000
Capital 126,360
332,890 332,890
Additional information
i) Closing stock was valued at ksh 29,460 as at 30th June 2018
ii) Mr kalekeno took part of the stock amounting to ksh 3000 for personal use
iii) Salaries and wages amounting to ksh 8,000 were pre-paid and ksh 360 of motor expenses accrued
iv) Bad debts written off amounted to 860
v) Depreciation is to be provided for as follows:
Premises at 20%
Fixtures and fittings at 15%
Motor vehicles at 25%
All of a above asset were depreciated at cost
a) The income statement for the year ended 30 th June 2018 ( 5marks)
b) The statement of financial position (5 Marks)
Explanation:
A certain company has net income of $114.9 million, sales of $698.4 million, total assets of $730.2 million, a debt-to-equity ratio of 0.48, and current assets of $101 million. What is their return on equity (ROE)
Answer:
30.26%
Explanation:
Return on equity measures how profitable a business is, when compared to it's equity.
Return on equity is computed as;
= Net income / Shareholder's equity
Where,
Shareholder's equity = Company's assets - Debts
= $114,900,000 / ($730,200,000 - $350,496,000)
= $114,900,000 / $379,704,000
= 30.26%
What kind of ideas are not patentable according to the U.S. Patent Office?
Answer:
A presentation of information
Explanation:
Dartmouth Assessment Centre screens and trains employees for a computer assembly firm in Halifax. The progress of all trainees is tracked and those not showing the proper progress are moved to less demanding programs. By the tenth repetition, trainees must be able to complete the assembly task in 1 hour or less. Torri Olson-Alves has just spent 5 hours on the fourth unit and 4 hours completing her eighth unit, while another trainee, Julie Burgmeier, took 4 hours on the third and 3 hours on the sixth unit. Should you encourage either or both of the trainees to continue? Why?
Answer:
Discourage Torri from continuing. Encourage Julie to continue.
Explanation:
The progress of all trainees is tracked. Those not showing good progress are moved to less demanding programs. This means that there is hope of still doing/getting a job, if they don't pass this test.
REQUIREMENT: By the 10th time doing the test, trainees must be able to complete the task in a maximum of 1 hour.
1st Trainee: Torri Olson-Alves
5 hours on Unit 4; 4 hours on Unit 8
Should Torri be encouraged to continue? NO.
There are 10 units or repetitions in all. If Torri spends 5 hours on Unit 4 and spends 4 hours on Unit 8, then Torri is slow or isn't making much progress. After 4 repetitions, her marginal product only increased by an hour. She most likely won't make it to 1 hour by the 10th repetition.
2nd Trainee: Julie Burgmeier
4 hours on Unit 3; 3 hours on Unit 6
Should Julie be encouraged to continue? YES.
Julie makes a progress of 1 hour after 3 repetitions. We can predict that after another 3 repetitions (on Unit 9) progress would be made again and by Unit 10, she would have met the required benchmark.
Crane Company issues $255,000, 20-year, 6% bonds at 103. Prepare the journal entry to record the sale of these bonds on June 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
June 1, 2022
Cash 262650 Dr
Bonds Payable 255000 Cr
Premium on bonds payable 7650 Cr
Explanation:
As the bonds with a face value of $255000 are issued at 103%, this means that they are being issued at a premium of 3 percent. The premium on bonds payable will be,
Premium on bonds payable = 255000 * 0.03 = 7650
We will debit the cash received from issuing the bonds that is face value of the bond plus premium. The cash receipt will be = 255000 + 7650 = 262650
The journal entry will be to be to debit cash and credit bonds payable and premium on bonds payable
Which of the following is an advantage to purchasing a commercial property compared to a residential property?A. Business tenants are generally easier to deal with than apartment house tenants.B. The vacancy rate is higher than residential properties.C. Only residential property owners have to pay property taxes.D. These properties do not qualify for homestead exemptions.Seller Blake's home just hosted a caravan for his agent's brokerage. What should he or his agent do to get feedback from the other licensees?A. Nothing, it is illegal to ask for their opinions.B. Text each agent after the home tour.C. Ask them to give their opinions orally while still looking at the property.D. Ask each agent to fill out an evaluation.Title records protect the public by giving all concerned parties ________ of the condition of a property's legal titleA. marketable dataB. destructive warningC. removable noticeD. constructive notice
Answer: A. Business tenants are generally easier to deal with than apartment house tenants.
D. Ask each agent to fill out an evaluation.
Explanation:
Property tax is a tax that is paid by an individual to the government for having a property such a a real estate. An advantage to purchasing a commercial property compared to a residential property is that business tenants are generally easier to deal with than apartment house tenants. Typically, apartment house tenants are tougher to deal with because there are a lot of challenges or misunderstanding that one will encounter with them.
For Blake or his agent to get a feedback from the other licensees, he should ask them to fill out an evaluation. This will be vital to know how they feel and other necessary issues can also be addressed using the evaluation.
Below is a table for the present value of $1 at Compound interest.
Year 6% 10% 12%
1 0.943 0.909 0.893
2 0.890 0.826 0.797
3 0.840 0.751 0.712
4 0.792 0.683 0.636
5 0.747 0.621 0.567
Below is a table for the present value of an annuity of $1 at compound interest.
Year 6% 10% 12%
1 0.943 0.909 0.893
2 1.833 1.736 1.690
3 2.673 2.487 2.402
4 3.465 3.170 3.037
5 4.212 3.791 3.605
Using the tables provided, if an investment is made now for $23,700 that will generate a cash inflow of $7,900 a year for the next 4 years, the net present value (rounded to the nearest dollar) of the investment, assuming an earnings rate of 10%, is:________
Answer: $1,343
Explanation:
Net Present Value = Present value of Cash inflows - Present value of Cash outflows
Cash inflows are constant and so are an annuity.
Present value of Cash inflows = Annuity * Present value interest factor of annuity, 4 years, 10%
= 7,900 * 3.170
= $25,043
Net Present Value = 25,043 - 23,700
= $1,343
Administrators
According to the video, what sort of education do Postsecondary Education Administrators need?
a high school diploma
O a college experience without a degree
advanced education
O an orientation
Answer:
advanced education
Explanation:
just got it right on edge 2020
Answer:
advanced education
Explanation:
hope this helps!
Variable costs of service departments are allocated to user departments using ________ cost rates instead of ________ cost rates.a) actual; budgeted.b) budgeted; actual.
c) long-range; short-range.
d) short-range; long-range.
Answer:
answer c is correct i did this
When the economy is in a recession, the government will want to increase output. If the multiplier equals 2.7 and the government increases spending by 145, how much will output increase by?
Answer:
the increase in the output is 391.50
Explanation:
The computation of the increase in the output is shown below:
Given that
The Multiplier is 2.7
And, there is an increase in government spending by 145
So, the output would increased by
= Multiplier × increase in government spending
= 2.7 × 145
= 391.50
Hence, the increase in the output is 391.50
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Mary Cooper just purchased 120 shares in the All-American Fidelity Fund. The purchase cost for each share was $30. If this fund charges a 4 percent load, what is the total amount of commission she will pay the investment company?
Answer: $144
Explanation:
First calculate how much she spent to buy the shares;
= 120 * 30
= $3,600
The fund charges a 4% load so the total compensation paid is;
= 3,600 * 4%
= $144
Bill wants to attend a college with a current tuition of $10,000 a year. He will graduate from high school in five years. Roughly how much will Bill need to save for one-year’s tuition to account for an annual rate of inflation of 3%? $638.30 $667.50 $656.50 $633.30
Answer:
$1,592.74
Explanation:
The computation is shown below;
The future value be
= Present value × (1 + rate of interest)^time period
= $10,000 × (1 + 0.03)^5
= $10,000 × 1.159274074
= $11,592.74
Now the more amount would be
= $11,592.74 - $10,000
= $1,592.74
This is the answer but the same is not provided in the given options
Hence, the more amount is $1,592.74
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
A. $11,590.00
Explanation:
The rule in Garner v. Murray deals with
Answer:
In the event of the insolvency of a partner any losses should be shared in the ratio of the last agreed capital balances before the dissolution took place. This is known as the Garner v Murray rule.
Johnson Company has current year accounts payable of $25,000 and cost of goods sold of $100,000. Compute Johnson Company’s days’ payable outstanding.
Answer:
the days payable outstanding is 91.25 days
Explanation:
The computation of the days payable outstanding is shown below:
Days' payable outstanding is
= (Accounts Payable ÷ Cost of goods sold) × total number of days in a year
= ($25,000 ÷ $100,00) × 365 days
= 91.25 days
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Hence, the days payable outstanding is 91.25 days
Eastern Corporation has $21,000,000 in equipment that has a 15 year class life. The equipment is 8 years old. Eastern is selling the equipment for $10,000,000. Eastern uses simplified straight line depreciation (zero salvage value) and has a marginal tax rate of 34%. What is the terminal cash flow?
Answer:
$9,932,000
Explanation:
Calculation for the terminal cash flow
First step is to calculate the Sales value
Sales value =21,000,000/15 years*7years
Sales value=9,800,000
Note 15 years -8 years will gives 7 years
Second Step is to calculate the tax amount
Using this formula
Tax amount=Book Value-Sales value
Let plug in the formula
Tax amount=10,000,000-9,800,000*(34%)
Tax amount=200,000*34%
Tax amount=68,000
Last step is to calculate the terminal cash flow
Using this formula
Terminal cash flow=Book value-Tax amount
Let plug in the formula
Terminal cash flow=10,000,000-68,000
Terminal cash flow=$9,932,000
Therefore the Terminal cash flow will be $9,932,000
Keesha Co. borrows $200,000 cash on November 1 of the current year by signing a 90-day, 9%, $200,000 note. 1. On what date does this note mature
Answer:
29th day of January the following year.
Explanation:
The date the loan matures can be determined by adding the number of days or periods that is covered by the term of the note to the initial date of Note Issuance.
This Note is Issued over a term of 90 days (November - 30 days + December - 31days + January - 29 days ).
So on the 29th day of January the following year, the loan matures.
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Answer:
What do you want me to search the link?
Information on Kimble Company's direct labor costs for the month of January is as follows:________. Actual direct labor hours 34,800 Standard direct labor hours 35,600 Total direct labor payroll $ 269,700 Direct labor efficiency variance-favorable $ 5,600 What is Kimble's direct labor rate variance?
Answer:
Direct labor rate variance= $26,100 unfavorable
Explanation:
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 269,700/34,800= $7.75
First, we need to calculate the standard rate:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
5,600 = (35,600 - 34,800)*standard rate
5,600/800= standard rate
$7= standard rate
Now, the direct labor rate variance:
Direct labor rate variance= (7 - 7.75)*34,800
Direct labor rate variance= $26,100 unfavorable
Wishbone Company issued $700,000 of 9%, 10-year bonds on January 1, 2022 at face value. Interest is payable annually on January 1. Prepare the adjusting journal entry to be recorded by Wishbone Company on December 31, 2022.
Answer:
Interest Expense $63,000
Interest Payable $63,000
Explanation:
$700,000 X 9% = $63,000 which is the annual interest expense that they will incur each year. Because it isn't paid until January 1st, it is rolled into the Interest Payable account.
If the ending inventory of a firm is overstated by $58,000, by how much and in what direction (overstated or understated) will the firm's operating income be misstated? (Hint: Use the cost of goods sold model, enter hypothetically "correct" data, and then reflect the effects of the ending inventory error and determine the effect on cost of goods sold.) Operating income__________ by _________
Answer:
The firm's operating income will be overstated by $58,000.
Explanation:
Cost of Goods Sold Model is as below
Opening Inventory xxx
Add: Cost of goods manufactured xxx
Cost of goods available for sale xxx
Less: Ending inventory xxx
Cost of goods sold xxx
It is the cost of goods sold so obtained, that is taken to the income statement. Hence, overstatement of the ending inventory will result in understatement of the cost of goods sold to the same extent. Consequently the operating profit will be overstated to the same extent.
West Corp. issued 15-year bonds two years ago at a coupon rate of 7.3 percent. The bonds make semiannual payments. If these bonds currently sell for 103 percent of par value, what is the YTM?
Answer:
7.44 %
Explanation:
The Yield to Maturity (YTM) is the Interest rate that makes the Present Value of Coupons and Principle equal the Market Price or Current Price of the Bond.
The Yield to Maturity can be calculated using a financial calculator as follows :
PV = - $100
N = (15 -2) × 2 = 26
PMT = ($100 × 7.30%) ÷ 2 = $3.65
FV = $103
P/YR = 2
YTM = ?
Therefore, Inputting the values in the calculator as shown gives the Yield to Maturity is 7.44 %.
Career research and decision making
1. Define your problem related to college or career goals.
Answer: The difficulty of choosing the right career
Explanation: One of the major problems I experienced was choosing the right career for me. When you are young and just got out of high school right away you think about college but, what career is the right one? that was not just my problem but a lot of young adults and teenagers deal with this.
The thing is people feel pressure in going to college and sometimes make bad decisions when choosing a career, thats why is important to take some time before deciding which career studying.
If the net present value of a project is positive (non-zero), then the project's:________.a) PI will be less than 1. b) internal rate of return will exceed its required rate of return. c) costs exceed its benefits. d) discounted payback period will exceed the life of the project. e) payback period must equal the life of the project.
Answer:
b) internal rate of return will exceed its required rate of return.
Explanation:
The internal rate of return is the discount rate at which the NPV = 0. If the NPV is positive when calculated using the project's discount rate, then the IRR is going to be higher than the discount rate.
Option A is wrong because the profitability index (PI) of a project is calculated by dividing the present value of its cash flows by its cost. If the NPV is positive, it means that the present value of its cash flows will be greater than the costs, so the pI will be more than 1.
Option C is wrong because if the costs exceed the benefits, then the NPV will be negative.
Option D is wrong because that would mean that the NPV is negative.
Option E is something made up that doesn't make any sense.
Both of these changes happen simultaneously in a market: the supply of good X falls and the demand for good X rises. This will result in:_______
a. an increase in both the equilibrium price and quantity in the market.
b. an increase in the equilibrium quantity and an uncertain impact on the equilibrium price
c. a decrease in both the equilibrium price and quantity in the market.
d. an increase in the equilibrium price and an uncertain impact on the equilibrium quantity.
Answer:
d.
Explanation:
This scenario will result in an increase in the equilibrium price and an uncertain impact on the equilibrium quantity. This is because when customers in a market want a product but there is very little supply exists it makes the product more valuable and thus increases the price since consumers are willing to pay more for that product to get their hands on it. Scarcity increases price always, but while the supply and demand of a product are not the same this causes an uncertain impact on the equilibrium quantity.
The Firm X just paid a dividend of $1.26 per share on its stock. The dividends are expected to grow at a constant rate of 5% per year indefinitely. If investors require a 10% return on Firm X stock, what is the current price?
Answer: $26.46
Explanation:
The value of the stock can be solved using the Gordon growth model.
[tex]= \frac{Current dividend * (1 + growth)}{required return - growth rate} \\\\= \frac{1.26 * (1 + 0.05)}{0.10 - 0.05}\\\\= 26.46[/tex]
= $26.46
Assume the company is considering investing in a new machine that will increase its fixed costs by $42,500 per year and decrease its variable costs by $10 per unit. Prepare a forecasted contribution margin income statement for 2020 assuming the company purchases this machine.
Answer:
The company should purchase the machine.
Explanation:
Note: The complete question is attached below
Forecasted contribution margin income statement
For the Year Ended December 31
Particulars Amount$
Sales 2,440,000
Variable cost(10,000*185(195-10)) 1,850,000
Contribution margin 590,000
Fixed cost (327,600+42,500) 370,100
Income $219,900
Because the income increase by $57,500 due to the pruchase, the company should purchase the machine
The Executive Level is the highest level of the tall hierarchy pyramid.
True or False
A proposed capital budgeting project has initial cash outflows, followed by cash inflows, which are then followed by more cash outflows. We call these types of cash flows: Group of answer choices non-normal cash flows. normal cash flows. None of these are correct. reflective cash flows. mutually-exclusive cash flows.
Answer:
a. Non-normal cash flow
Explanation:
Non-normal cash flows are also called as unconventional cash flows and it consist of cash-flow patterns that changes direction more than once.
Question 2 of 10
Which action is a bank most likely to take when evaluating a loan application
from a person with a low credit score and a poor credit history?
A. Reducing the interest rate to encourage the person to borrow
more
B. Increasing the value of the loan to earn more interest over time
O C. Denying the loan because the person is unlikely to pay it back
O D. Requiring the person to take more than one loan at a time
SUBMIT
PREVIOUS
Answer:
C is the correct answer
Explanation:
Denying the loan because the person is unlikely to pay it back is a bank most likely to take when evaluating a loan application from a person with a low credit score and a poor credit history.
What is loan application?Borrowers apply for loans via a loan application. Through the loan application, borrowers provide vital financial information to the lender.
The loan application is crucial in determining whether or not the lender will approve your funding or credit request.
Thus, option C is correct.
For more details about loan application, click here
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Compare the opportunities and threats that small businesses face. Which opportunities are most compelling
Answer:
Explanation:
The main opportunity that small businesses face (and the most compelling one) is the chance to be successful, make lots of profit and grow exponentially. If a small business has a great product, marketing, and strategy they can begin to become immensely profitable which leads to exponential growth. On the other hand, small businesses usually face competition as their biggest threat. When entering a new market there are bound to be a large number of competitors that can outprice your products and ultimately run you out of business if the small business does not have a proper strategy in place.
The Jewel Golf Club Company, which recently began using a Kanban system, has had problems with high inventory levels of one of the handle grips used to make several versions of its clubs. Daily demand for the grip is 3000 units, average waiting time during production is 0.20 day, processing time is 0.10 day per container, and a container holds 150 grips. How many Kanban containers would Jewel require if a 15% policy variable is used?
a. three or fewer
b. four or five
c. six or seven
d. eight or more
Answer:
c. six or seven
Explanation:
The computation of the number of kanban containers required is shown below:
Number of Kanbans = (Average Demand During lead Time + Safety Stock) ÷ Size of container
= (3,000 units × 0.3 + 0.15 × 3000 × 0.3) ÷ (150)
= (900 + 135) ÷ 150
= 6.9
So the number of kanbans required is 6.9 i.e. it lies between six or seven
hence the correct option is c.