On January 1, 2020, Echo Company issued $550,000, 16 year, 9%, annual, callable bonds for $475,000. On December 31, 2025, Echo Company redeemed (called) the bonds at 102. REQUIRED: 1. Prepare the Journal Entry to record the Issuance of the Bond 2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method) 3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.

Answers

Answer 1

Answer:

1. Prepare the Journal Entry to record the Issuance of the Bond

January 1, 2020, bonds issued at a discount

Dr Cash 475,000

Dr Discount on bonds payable 75,000

    Cr Bonds payable 550,000

2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method)

total bond life = 16 years, 5 years have passed

amortization of bond discount per coupon payment = $75,000 / 16 = $4,687.50

so $51,562.50 have not been amortized yet

3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.

Before being able to redeem the bonds, the remaining discount must be amortized:

December 31, 2025, amortization of bond discount

Dr Interest expense 51,562.50

    Cr Discount on bonds payable 51,562.50

the journal entry to record the redemption of the bonds

December 31, 2025, bonds redeemed at a loss

Dr Bonds payable 550,000

Dr Loss on retirement of debt 11,000

    Cr Cash 561,000


Related Questions

Relay Corporation manufactures batons. Relay can manufacture 300,000 batons a year at a variable cost of$750,000 and a fixed cost of $450,000. Based on Relay's predictions, 240,000 batons will be sold at the regular price of $5.00 each. In addition, a special order was placed for 60,000 batons to be sold at a 40% discount off the regular price. Required: By what amount would income before income taxes be increased or decreased as a result of the special order

Answers

Answer:

The total rise in income is $30,000

Explanation:

The computation is shown below:

Sale price     3     {5 × (1 - 0.40)

Less: Incremental cost  2.5   ($750,000 ÷ 300,000)

Increase in income per unit   0.50

Divide by Total units    60,000

Total increase in income   $30,000

Hence, the total rise in income is $30,000 and the same is to be considered

The total rise in income before tax is $30,000 as a result of a special offer when the Relay Corporation manufactures batons.

What is income?

Income is defined as the consumption and saving opportunity achieved by a commodity within a nominal time structure, which is commonly represented in monetary words. Income is challenging to describe conceptually, and the explanation may be further across areas.

Computation of change in income:

According to the given information,

Regular price = $5.

Discount Rate=40%

Then sales price would be:

[tex]\text{Sale Price}= \text{Regular Price}(1- \text{Discount Rate})\\\\\text{Sale Price}=\$5 \text (1 - 0.40)\\\\\text{Sale Price}= \$3[/tex]

Then the incremental cost is:

[tex]\text{Incremental Cost}=\dfrac{ \text{Variable Cost}}{\text{Units Produced}}\\\\ \text{Incremental Cost}=\dfrac{\$750,000}{\$300,000}\\\\ \text{Incremental Cost}=2.5[/tex]

Increase in income per unit:

[tex]\text{Increase In Income}=\text{Sales Price}- \text{Incremental Cost}\\\\\text{Increase In Income}=\$3-\$2.5\\\\\text{Increase In Income}=0.50[/tex]  

Therefore, the increase in income is :

[tex]=\text{Per unit Increase In Income}\times\text{Total Units}\\\\=0.50\times60,000\\\\=\$30,000[/tex]

Learn more about income, refer to:

https://brainly.com/question/17961582

Q 20.27: Liberty Bicycles currently sells unassembled bikes for $240 each. The variable production costs for each bike are $35 and the fixed production costs are $72. Liberty is thinking about selling the bikes fully assembled for $300 each. The variable costs for assembling one bike will be $18 and the fixed costs will be $31. Given these figures, Liberty will increase its net income per unit by ________ if it opts to assemble the bikes.

Answers

Answer:

$11

Explanation:

Find the incremental effect on net income of assembling the bikes as follows :

Incremental analysis for assembling the bikes per unit

Sales ( $300 - $240)                    $60

Less incremental costs :

Variable costs                               ($18)

Fixed production costs                 ($31)

Incremental Income/(loss)              $11

Conclusion

Thus  Liberty will increase its net income per unit by $11  if it opts to assemble the bikes.

Speicher sells sports shoes and formal shoes. Sports shoes sell for $110 each and cost $50 in variable expenses to make. Formal shoes sell for $220 and cost $100 in variable expenses to make. Speicher’s fixed expenses are $50,000. If 35% of his revenues are from sports shoes, what is Speicher’s weighted average contribution margin ratio? Provide your answer in decimal form (i.e. 65.2% = 0.652) and to three decimal places. Do not round intermediary calculations.

Answers

Answer:

weighted contribution margin ratio = 0.545

Explanation:

contribution margin of sport shoes = $110 - $50 = $60

contribution margin ratio of sport shoes = $60 / $110 = 0.545454

contribution margin of formal shoes = $220 - $100 = $120

contribution margin ratio of sport shoes = $120 / $220 = 0.545454

35% of total revenues come from sport shoes

weighted contribution margin ratio (it is the same for both products) = 0.545454 = 0.545

is the present value of these cash flows? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Present value Investment X $ Investment Y $ (b) Which of these cash flow streams has the higher present value at 5 percent? (Click to select) Requirement 2: (a) If the discount rate is 23 percent, what is the present value of these cash flows? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).) Present value Investment X $ Investment Y $ (b) Which of these cash flow streams has the higher present value at 23 percent?

Answers

Answer and Explanation:

1A. For investment X, given 6% discount rate, 6700 PMT, N= 9 years

Present value of investment X= 6700* PVIF using 6%, 9 years

= $45751.34

For investment Y, given 6% discount rate, 9200 PMT, N= 5 years

Present value of investment Y =9200*PVIF using 6%, 9 years

=$38753.75

1B. Investment X from the above has higher present value

2A. For investment X, given 22% discount rate, 6700 PMT, N = 9 years

Present value of investment X

=6700*PVIF using 22% ,9 years

= $25368.11

For investment Y, given 22% discount rate, 9200 PMT, N = 5 years

Present value of investment X

=9200*PVIF using 22% ,N = 5 years

= $26345.49

2B. Investment Y from the above has higher present value.

Creswell Corporation's fixed monthly expenses are $30,000 and its contribution margin ratio is 63%. Assuming that the fixed monthly expenses do not change, what is the best estimate of the company's net operating income in a month when sales are $92,000?
a. $27,960.b. $62,000.c. $57,960.d. $4,040.

Answers

Answer:

Net income= $27,960

Explanation:

Giving the following information:

Fixed costs= $30,000

contribution margin ratio= 0.63

Sales= $92,000

First, we need to calculate the total contribution margin:

Total contribution margin= 92,000*0.63= 57,960

Now, the net income:

Net income= 57,960 - 30,000

Net income= $27,960

Rufus Inc. and Hardy Company are negotiating a nontaxable exchange of business properties. Rufus’s property has a $50,000 tax basis and a $77,500 FMV. Hardy’s property has a $60,000 tax basis and a $90,000 FMV. Which party to the exchange must pay boot to make the exchange work? How much boot must be paid? Assuming the boot payment is made, how much gain or loss will Rufus realize and recognize on the exchange, and what tax basis will Rufus take in the property acquired? Assuming the boot payment is made, how much gain or loss will Hardy realize and recognize on the exchange and what tax basis will Hardy take in the property acquired?

Answers

Answer:

Which party to the exchange must pay boot to make the exchange work?

Rufus must pay boot since the FMV of its property is less than the FMV of Hardy's property.

How much boot must be paid?

$90,000 - $77,500 = $12,500

Assuming the boot payment is made, how much gain or loss will Rufus realize and recognize on the exchange, and what tax basis will Rufus take in the property acquired?

Rufus doesn't have any gain, and the tax basis for the new asset will be $50,000 + $12,500 = $62,500

Assuming the boot payment is made, how much gain or loss will Hardy realize and recognize on the exchange and what tax basis will Hardy take in the property acquired?

Since Hardy's property basis is $60,000 and it would be receiving $50,000 (Rufus's property) + $12,500 = $62,500, then it must recognize a $2,500 gain. The basis of Hardy's new property will be $62,500.

Big Box Store has operated with a 30% average gross profit ratio for a number of years. It had $107,000 in sales during the second quarter of this year. If it began the quarter with $18,700 of inventory at cost and purchased $72,700 of inventory during the quarter, its estimated ending inventory by the gross profit method is:

Answers

Answer:

$16,500

Explanation:

The computation of the estimated ending inventory is given below:

As  We know that

Cost of goods sold = Beginning inventory + purchase made - ending inventory

And, the

Sales - gross profit = Cost of goods sold

So,

$107,000 - $107,000 × 30% = Cost of goods sold

Therefore, the cost of goods sold is

= $107,000 - $32,100

= $74,900

And, finally the ending inventory is

$74,900 = $18,700 + $72,700 - ending inventory

$74,900 = $91,400  - ending inventory

So, the ending inventory is

= $91,400 - $74,900

= $16,500

On January 1, 2018, the general ledger of Big Blast Fireworks includes the following account balances:
Accounts Debit Credit
Cash $ 24,300
Accounts Receivable 42,500
Inventory 42,000
Land 79,600
Allowance for Uncollectible Accounts 2,700
Accounts Payable 29,200
Notes Payable (8%, due in 3 years) 42,000
Common Stock 68,000
Retained Earnings 46,500
Totals $ 188,400 $ 188,400
The $42,000 beginning balance of inventory consists of 420 units, each costing $100.
During January 2018, Big Blast Fireworks had the following inventory transactions:
January 3 Purchase 1,050 units for $115,500 on account ($110 each).
January 8 Purchase 1,150 units for $132,250 on account ($115 each).
January 12 Purchase 1,250 units for $150,000 on account ($120 each).
January 15 Return 160 of the units purchased on January 12 because of defects.
January 19 Sell 3,600 units on account for $576,000. The cost of the units sold is determined using a FIFO perpetual inventory system.
January 22 Receive $529,000 from customers on accounts receivable.
January 24 Pay $359,000 to inventory suppliers on accounts payable.
January 27 Write off accounts receivable as uncollectible, $2,100.
January 31 Pay cash for salaries during January, $110,000.
The following information is available on January 31, 2018.
a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each.
b. At the end of January, $5,200 of accounts receivable are past due, and the company estimates that 30% of these accounts will not be collected.
c. Of the remaining accounts receivable, the company estimates that 5% will not be collected.
d. Accrued interest expense on notes payable for January.
1. Record adjusting entries on January 31 for the above transactions.
2. Interest is expected to be paid each December 31. Accrued income taxes at the end of January are $13,500.
3. Prepare an adjusted trial balance as of January 31, 2021.
4. Prepare a multiple-step income statement for the period ended January 31, 2021.
5. Prepare a classified balance sheet as of January 31, 2021.
6. Record closing entries.

Answers

Answer:

journal entries

January 3 Purchase 1,050 units for $115,500 on account ($110 each).

Dr Inventory 115,500

    Cr Accounts payable 115,500

January 8 Purchase 1,150 units for $132,250 on account ($115 each).

Dr Inventory 132,250

    Cr Accounts payable 132,250

January 12 Purchase 1,250 units for $150,000 on account ($120 each).  *110

Dr Inventory 150,000

    Cr Accounts payable 150,000

January 15 Return 160 of the units purchased on January 12 because of defects.

Dr Accounts payable 19,200

    Cr Inventory 19,200

January 19 Sell 3,600 units on account for $576,000. The cost of the units sold is determined using a FIFO perpetual inventory system.

Dr Accounts receivable 576,000

    Cr Sales revenue 576,000

Dr Cost of goods sold 407,350

    Cr Inventory 407,350

January 22 Receive $529,000 from customers on accounts receivable.

Dr Cash 529,000

    Cr Accounts receivable 529,000

January 24 Pay $359,000 to inventory suppliers on accounts payable.

Dr Accounts payable 359,000

    Cr Cash 359,000

January 27 Write off accounts receivable as uncollectible, $2,100.

Dr Bad debt expense 2,100

    Cr Allowance for uncollectible accounts 2,100

January 31 Pay cash for salaries during January, $110,000.

Dr Wages expense 110,000

    Cr Cash 110,000

adjusting entries

a. At the end of January, the company estimates that the remaining units of inventory are expected to sell in February for only $100 each.

Dr Cost of goods sold [110 units x ($120 - $100)] 2,200

    Cr Inventory 2,200

b. At the end of January, $5,200 of accounts receivable are past due, and the company estimates that 30% of these accounts will not be collected.

Dr Bad debt expense 1,560

    Cr Allowance for uncollectible accounts 1,560

c. Of the remaining accounts receivable, the company estimates that 5% will not be collected.

Dr Bad debt expense 3,975

    Cr Allowance for uncollectible accounts 3,975

d. Accrued interest expense on notes payable for January.

Dr Interest expense 280

    Cr interest payable 280

Accrued income taxes at the end of January are $13,500.

Dr Income taxes expense 13,500

    Cr Income taxes payable 13,500

adjusted trial balance

                                                                  debit            credit

Cash                                                     $84,300

Accounts Receivable                          $89,500

Inventory                                              $11,000

Land                                                     $79,600

Allowance for Uncollectible Acc.                               $10,335

Accounts Payable                                                       $48,750

Interest payable                                                             $280

Income taxes payable                                                $13,500

Notes Payable                                                            $42,000

Common Stock                                                           $68,000

Retained Earnings                                                      $46,500

Sales revenue                                                          $576,000

Cost of goods sold                             $409,550

Wages expense                                   $110,000

Bad debt expense                                  $7,635

Interest expense                                       $280

Income taxes expense                         $13,500                            

Totals                                                  $805,365        $805,365

income statement

Sales revenue                                    $576,000

COGS                                                ($409,550)

Gross profit                                         $166,450

Operating expenses:

Wages expense $110,000Bad debt expense $7,635       ($117,635)

Operating profit (EBIT)                        $48,815

Interest expense                                    ($280)

Income taxes expense                     ($13,500)

Net income                                         $35,035

closing entries

Dr Sales revenue 576,000

    Cr Income summary 576,000

Dr Income summary 540,965

    Cr Cost of goods sold 409,550

    Cr Wages expense 110,000

    Cr Bad debt expense 7,635

    Cr Interest expense 280

    Cr Income taxes expense 13,500  

Dr Income summary 35,035

    Cr Retained earnings 35,035

balance sheet

Assets:

Current assets

Cash                                          $84,300

Accounts Receivable, net         $79,165

Inventory                                    $11,000

Total current assets                                    $174,465

Property, plant and equip.

Land                                         $79,600

Total P, P & E                                               $79,600

Total assets                                                                      $254,065

Liabilities:

Current liabilities

Accounts Payable                    $48,750

Interest payable                            $280

Income taxes payable              $13,500

Total current liabilities                                 $62,530

Long term liabilities:

Notes Payable                         $42,000

Total long term liabilities                            $42,000

Stockholders' equity:

Common Stock                       $68,000

Retained Earnings                    $81,535

Total stockholder's equity                         $149,535

Total liabilities + stockholders' equity                           $254,065

Rode Company estimates bad debt expense at 1% of credit sales. The company reported accounts receivable of $100,000 and a pre-adjustment credit balance in its allowance for uncollectible accounts account of $2,000 at the end of the current year. During the current year, Rode’s credit sales were $2,000,000. What is the amount of the company’s bad debt expense for the current year?

Answers

Answer:

$20,000

Explanation:

Calculation for the amount of the company’s bad debt expense for the current year

Using this formula

Bad debt expense = Credit Sales Amount × Estimated percentage uncollectible

Let plug in the formula

Bad debt expense = $2,000,000 × 1%

Bad debt expense =$20,000

Therefore the amount of the company’s bad debt expense for the current year will be $20,000

What are the sources of brand equity?

Answers

Answer:

Ello, Imposter here

Explanation:

Brand equity is the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.

hope this helps :P

Answer: According to Keller (2003) and his CBBE model, brand equity emerges from two sources namely brand awareness and brand image. According to this model, consumers build associations in their minds around a brand as the result of the marketing programs companies develop for their brands.

Explanation: None.

When the stock price follows a random walk the price today is said to be equal to the prior period price plus the expected return for the period with any remaining difference to the actual return due to:_________

a. A predictable amount based on the past prices.
b. A component based on new information unrelated to past prices.
c. The security's risk.
d. The risk free rate.
e. None of the above.

Answers

Answer:

e. None of the above.

Explanation:

When the stock price follows a random walk the price today is said to be equal to the prior period price plus the expected return for the period with any remaining difference to the actual return due due to new information related to the stock​". This is because any new information on stock which is unrelated to stock prices will lead to an increase/decrease in the stock price over a period of time.

Kent Manufacturing produces a product that sells for $64.00 and has variable costs of $35.00 per unit. Fixed costs are $348,000. Kent can buy a new production machine that will increase fixed costs by $20,500 per year, but will decrease variable costs by $4.50 per unit.

Required:
Compute the contribution margin per unit if the machine is purchased.

Answers

Answer:

The contribution margin per unit is $33.50

Explanation:

The contribution margin per unit in the case when the machine is purchased is shown below:

= Selling price per unit - variable cost per unit

= $64 - ($35 - $4.50)

= $64 - $30.50

=  $33.50

hence, the contribution margin per unit is $33.50 and the same is to be considered

We simply applied the above formula

For most consumers, maximizing utility through consumption generally means finding good deals in order to maximize the utility received for each dollar spent. However, some makers of luxury goods believe that their customers actually achieve utility by paying high prices. As a result, lowering prices may lead to reduced sales for the makers of luxury goods. How is this counterintuitive concept rationalized by analysis of consumer behavior and the utility maximization rule

Answers

Answer:

The explanation of that situation is below.

Explanation:

To begin with, the most important factor to have in mind in the situation explained above is the fact that we are talking about a "luxury good" and therefore that when it comes to this type of goods is better when the majority of the people do not possess or at least they must represent the fact that they are exclusive for only some part of the population. That is why that those goods use the strategy of increase always the price because that will means that they are not affordable for the majority of the society but only for a few and that will give to the owner of the good a sense of uniqueness and with that it also comes the sense of superiority. That is why that when it comes to this type of good the analysis change and it collides with the other theory of utility maximation.

Were you surprised to learn how much companies focus on the teen market? Explain.

Answers

Answer:

Yes, a large percentage of consumers are influenced by people who are present on the internet, who are mostly younger people. In order to generate income, advertisements for young people are becoming less and less advertising look like.

For this reason, advertising pieces should always aim to entertain and inform, only to later sell. The experience with advertising content should be positive.

The teen audience may have many different tastes, but there is a high probability that everyone will use a cell phone. The device is part of the daily lives of young people and it is through it that teenagers communicate, consume content, and even shop.

Bryant Company has a factory machine with a book value of $88,100 and a remaining useful life of 7 years. It can be sold for $30,900. A new machine is available at a cost of $413,300. This machine will have a 7-year useful life with no salvage value. The new machine will lower annual variable manufacturing costs from $579,100 to $505,700. Prepare an analysis showing whether the old machine should be retained or replaced.

Answers

Answer: The old factory machine should be replaced as from computation  below   will lead to a  lower cost for Bryant Company

Explanation:

Particulars Retain Equipment Replace Equipment Net Income                      

                                                                                              Increase/Decrease                            

Variable manufacturing costs

                                $4,053,700              $3,539,900                  $513,800

                                 $579,100 x 7              $505,700 x 7                                      

                                                                                         

New machine cost                             $413,300              -$410,300.

Sale of old machine                              -$30,900                $30,900.

  Total              $4,053,700                 $3,922,300             $134,400  

The old factory machine should be replaced as from computation  will lead to a  lower cost of $3,922,300 instead of   $4,053,700     for Bryant Company

           

Waterway Company sold 10,100 Super-Spreaders on December 31, 2020, at a total price of $1,050,400, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $535,300. The assurance warranties extend for a 2-year period and are estimated to cost $37,000. Waterway also sold extended warranties (service-type warranties) related to 1,800 spreaders for 2 years beyond the 2-year period for $10,800. Given this information, determine the amounts to report for the following at December 31, 2020: sales revenue, warranty expense, unearned warranty revenue, warranty liability, and cash. Amounts Reported in Income Sales revenue $ Warranty Expense Amounts Reported on the Balance Sheet Unearned Service Revenue $ Cash Warranty Liability

Answers

Answer:

Amounts Reported in Income

Particulars                     Amount

- Sales revenue            $1,050,400

- Warranty expenses    $37,000

Amounts Reported on the Balance Sheet

Particulars                                  Amount

- Unearned service revenue      $10,800

- Cash ($1,050,400 + $10,800)  $1,061,200

- Warranty Liability                      $37,000

Granfield Company has a piece of manufacturing equipment with a book value of $36,500 and a remaining useful life of four years. At the end of the four years the equipment will have a zero salvage value. The market value of the equipment is currently $21,300. Granfield can purchase a new machine for $113,000 and receive $21,300 in return for trading in its old machine. The new machine will reduce variable manufacturing costs by $18,300 per year over the four-year life of the new machine. The total increase or decrease in net income by replacing the current machine with the new machine (ignoring the time value of money) is:

Answers

Answer:

($18,500)

Explanation:

Book value of manufacturing equipment = $36,500

Current market value of equipment = $21,300

Cost of new machine = $113,000

Cash received from trading old machine = $21,300

Variable manufacturing costs of new machine reduced by $18,300 per year, over the four year

Total increase/decrease in net income = Cost of new machine + Cash received from trading old machine + Reduction in variable manufacturing costs

= ($113,000) + $21,300 + $18,300 × 4

= ($113,000) + $21,300 + $73,200

= ($18,500)

It therefore means that the total decrease in net income by replacing the current machine with the new machine is $18,500

4. Sectoral shifts, frictional unemployment, and job searches Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will . The demand for labor among automobile-producing firms in Michigan, for which steel is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Improving a widely used job-search website so that it matches workers to job vacancies more effectively Establishing government-run employment agencies to connect unemployed workers to job vacancies Increasing the benefits offered to unemployed workers through the government's unemployment insurance program

Answers

Answer:

decrease

increase

structural unemployment

Improving a widely used job-search website so that it matches workers to job vacancies more effectively

Establishing government-run employment agencies to connect unemployed workers to job vacancies

Explanation:

If the world price of steel falls, the profits that can be earned from producing steel would fall. This would make steel-producing firms cutback on production. If they do this, they would lead less labour, so the demand for labour would fall.

The decrease in the price of steel would make purchasing steel by automobile companies cheaper. This would lead to a rise in production and as a result an increase in the demand for labour.

Structural unemployment occurs when there is a mismatch between the skills of labour and the jobs available.  Measures taken to increase information on available jobs would reduce this type of unemployment

Crimson Inc. recorded credit sales of $797,000, of which $540,000 is not yet due, $170,000 is past due for up to 180 days, and $87,000 is past due for more than 180 days. Under the aging of receivables method, Crimson Inc. expects it will not collect 2% of the amount not yet due, 16% of the amount past due for up to 180 days, and 27% of the amount past due for more than 180 days. The allowance account had a debit balance of $3,800 before adjustment. After adjusting for bad debt expense, what is the ending balance of the allowance account

Answers

Answer:

$65,290

Explanation:

The computation of the ending balance of the allowance account is shown below:-

Bad Debts for accounts receivable not yet due is

= $540,000 × 0.02

= $10,800

Bad Debts for accounts receivable due for up-to 180 days:

= $170,000 × 0.16

= $27,200

Bad Debts for accounts receivable due for more than 180 days:

= $87,000 × 0.27

= $23,490

Ending balance of Allowance account:

= $3,800 + $10,800 + $27,200 + $23,490

= $65,290

Delphi Company uses job-order costing. It applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, Delphi estimated that it would work 37,000 machine-hours and incur $222,000 in manufacturing overhead cost. The following transactions were recorded for the year: a. Raw materials were issued for use in production, $367,000 ($345,000 direct and $22,000 indirect). b. Employee costs were incurred: direct labor, $309,000; indirect labor, $44,000; and administrative salaries, $155,000. c. Factory depreciation, $175,000. d. Selling costs, $140,000. e. Manufacture overhead was applied to jobs. The actual machine hours for the year were 35,000 hours. a. Compute the total manufacturing overhead cost applied to jobs during the year.

Answers

Answer:

Allocated MOH= $210,000

Explanation:

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= 222,000/37,000

Predetermined manufacturing overhead rate= $6 per machine hour

Now, we cal allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 6*35,000

Allocated MOH= $210,000

Dorchester Company had the following balances at the end of 2018 and 2019 respectively: Net Credit Sales - $875,000 for 2018 and $1,032,000 for 2019. Accounts Receivable - $84,000 for 2018 and $107,000 for 2019. Allowance for Doubtful Accounts - $4,000 for 2018 and 7,500 for 2019 Calculate the accounts receivable turnover ratio to one decimal place.

Answers

Answer:Accounts Receivable Turnover Ratio = 11.50 times

Explanation:

Accounts Receivable Turnover Ratio  is calculated using

Net Credit Sales / Average Accounts Receivable

Net Credit Sales for 2019 =  $1,032,000

Net Accounts Receivable in 2018 = Accounts Receivable in 2018 - Allowance for Doubtful Accounts in 2018

= $84,000 - $4,000

= $80,000

Net Accounts Receivable in 2019 = Accounts Receivable in 2019 - Allowance for Doubtful Accounts in 2019

= $107,000 - $7,500

= $99,500

Average Accounts Receivable = (Net Accounts Receivable in 2018 + Net Accounts Receivable in 2019) / 2

= ($80,000 + $99,500) / 2

= $179,500 / 2

= $89,750

Accounts Receivable Turnover Ratio = Net Credit Sales in 2019 / Average Accounts Receivable

=   $1,032,000/ $89,750

= 11.498

= 11.50 times

Answer:

PoyPoy

Explanation:

How do you think Alden, from Situation 2, found out about Revinate? Given all the online companies that might help your business connect you with customers, how would you choose one?

Answers

The correct answer to this open question is the following.

Although you forgot to include the proper context of the question or further references, we can comment on the following.

Alden found out about Revinate by searching on the web trying to find the best software options that could help the company to identify the customer's reviews so Gregory E. Alden could make the best decisions for his company.

Gregory E. Alden is the manager of the company Woodside Hotels, located in Northern California. He was trying to monitor the comments of his high-class clients because Woodside Hotels is in the luxurious hotel business. So knowing that constantly monitoring client's comments on social media pages such as TripAdvisor or Yelp can be an arduous and difficult task, Gregory searched for the best software company to monitor client's comments on social media. That is how he found Revinate, a company that helps managers to track reviews so they can make the best business decisions once they have learned what their customers desire. And that is exactly what I would do to choose the kind of company to know about the preferences of my customers.

to beter take into account the differential impact of fixed and variable costs, marketing managers canuse ____ pricing

Answers

Answer:

target return pricing

Explanation:

Target return pricing is a pricing method that uses a very simple formula:

target price = [unit cost + (desired return x capital)] /unit sales

The price is based on the ROI that the company expects from a certain product (or project).

Even though this is a fairly simple method for pricing a good or service, it can also have serious negative consequences:

it doesn't take in account consumers' tastes or preferenceswhat happens if the expected ROI is too high, that could kill a project that could have been successful otherwisethe time frames are not always exact, e.g. you believed that a project would last 5 years, but due to a technological breakthrough it only lasts 4

In order to successfully apply this type of pricing strategy, a company must be able to achieve or exceed their sales goals.

What benefits do customers receive in return for the sacrifice they make when buying a membership at Planet Fitness?

Answers

Answer:

Customers receive the following benefits in return for the price they pay when they buy membership at Planet Fitness:

a) Fitness training

b) Physical exercise

c) Relaxation and comfort

d) Clean and safe environment and conducive atmosphere

e) the friendly and courteous staff is a bonus

Explanation:

Planet Fitness operates fitness centers and clubs around the world under franchises.  Planet Fitness has adequate and clean cardio machines, free weights of up to 80 lbs., curl bars, and other strength training equipment and accessories.  The average gym user is offered abundant, 5-star, and world-class Cardio equipment and services.

The average price for regular gasoline at U.S. pumps fell almost 4 cents in March to​ $2.50 a gallon. The price of crude oil dropped to​ $43.46 per barrel on March​ 17, the lowest since March 2009.

Answers

Answer: C. lower the cost of producing gasoline and increase the supply of gasoline

Explanation:

Gasoline is derived from the distillation of crude oil which means that Crude oil is the main raw material in the production of gasoline. This means that if crude oil sees a reduction in price, input costs for gasoline will decrease as well.

Producers of gasoline will take advantage of this to buy more crude oil and therefore process and make more gasoline which will increase the supply of gasoline in the market and reduce its price.

If a company purchases equipment costing $4,500 on credit, the effect on the accounting equation would be: Multiple Choice Assets increase $4,500 and liabilities decrease $4,500. One asset increases $4,500 and another asset decreases $4,500. Equity decreases $4,500 and liabilities increase $4,500. Equity increases $4,500 and liabilities decrease $4,500. Assets increase $4,500 and liabilities increase $4,500.

Answers

Answer: Assets increase $4,500 and liabilities increase $4,500.

Explanation:

An asset are the properties which a business or an organization owns. An asset possess an economic value.

Since the equipment purchased is an asset, this will lead to an increase of assets by $4500 and since it was bought on credit and hasn't been paid for, liabilities will also increase by $4500.

Yoshi Co.'s 12/31/2020 inventory on a FIFO basis was $980,000. The following information is available: Estimated selling price is $1,020,000; Estimated cost of disposal is $40,000; Normal profit margin is $120,000; and Current replacement cost is $900,000. At 12/31/2020, assuming Yoshi uses the loss method, what amount of loss should Yoshi record from applying LCM

Answers

Answer:

Yoshi Co.

The amount of loss that Yoshi Co. should record from applying LCM (the lower of Cost or Market price) is:

$40,000

Explanation:

a) Data and Calculations:

FIFO inventory on 12/31/2020 = $980,000

Current replacement cost = $900,000

Net realizable value = $980,000 ($1,020,000 - $40,000)

Normal profit margin = $120,000

Loss to be recognized based on current replacement cost = FIFO purchase cost minus Current replacement cost

= $80,000 ($980,000 - $900,000)

b) Under the US GAAP (generally accepted accounting principles) of prudence and conservatism, the loss of $80,000 must be recognized in the current period, since the inventory will be booked at $900,000, its current replacement cost, which is lower than the FIFO purchase cost of $980,000.

We sell to a customer paying with Visa and the fee is 2%. Part of the transaction would include a debit to:

Answers

Answer:

there are no available options, but the complete journal entry to record a credit card sale is:

Dr Cash account 98% of sale

Dr Credit card fees 2% of sale

    Cr Sales revenue 100% of sale

Explanation:

Since VISA payments are automatic, you can debit cash directly. There is no need to debit accounts receivable and then once the payment is confirmed, debit cash. Some credit cards do not pay automatically, and in those cases you should debit accounts receivable.

Instead of credit card fees, some people use credit card discount, or credit card expense, but all these accounts are basically the same. They are all expense accounts.

Hunter is the founder and CEO of a Web site development firm. Clients are typically small to midsized companies that are seeking an offbeat, innovative approach to their online design, as well as functionality that offers customers surprising ways to interact with the site. What is the more appropriate style of leadership, given the type of work Hunter wants his Web site designers to do

Answers

Answer:

The right solution would be "Transformational ".

Explanation:

The required leadership style throughout this situation, considering the sort of job Hunter requires his application or website developers or designers to be doing, is Transformative.  The objective was to design or create an unexpected as well as creative approach is to develop or construct various websites.

B. Panuto: Isulat sa patlang kung ano ang tinutukoy sa pangungusap.
1. Ang tawag sa taong nagnenegosyo.
2. Ang panimulang salapi na ginagamit sa
pagnenegosyo.
3. Ang isang entrepreneur ay dapat magkaroon nito
upang ang produkto o serbisyo ay kumita ng
maganda
4. Alamin ang pagtatayuan ng negosyo.
5. Mahalaga ito upang maihatid at makilala ang
bagong produkto sa pamilihan.​

Answers

Explanation:

1.negosyante.

2.kapital.

3.ng sapat na kaalaman sa pang negosyo.

4.inquiry

5.flayears

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