On June 1, 2019, Irene places in service a new automobile that cost $21,000. The car is used 70% for business and 30% for personal use. (Assume this percentage is maintained for the life of the car.) She does not take additional first-year depreciation. Determine the cost recovery deduction for 2020.
Answer:
the cost recovery deduction for 2020 is $4,704
Explanation:
The calculation of the cost recovery deduction is given below:
According to the MACRS depreciation table, the second year depreciation rate should be 32%
So, the cost recovery deduction should be
= 32% of 70% of $21,000
= $4,704
Hence, the cost recovery deduction for 2020 is $4,704
Therefore the same should be considered
For the scenario below, determine the legality of the company's actions.
Guncorp is selling rifles to a retailer Sportsacorp. In order for Sportsacorp to purchase a shipment of rifles, Guncorp requires that Sportsacorp also purchase a shipment of pistols.
Answer:
Option C because it is impossible to determine the legality based on the facts given.
Explanation:
Guncorp is selling rifles to a retailer Sportsacorp, in the above cenario, the legality cannot be determined by the actions of the company.
What is legality?Legality is the state of being consistent with the law, or of being lawful or unlawful in a certain jurisdiction, and the concept of power in relation to an act, agreement, or contract.
In the above case, there is not the sufficient detail that show the legality of the company's actions about the Guncorp.
Therefore, the legality in the given case cannot be determined.
Learn more about legality, refer to:
https://brainly.com/question/14994055
Department S had 700 units 70% completed in process at the beginning of the period, 8,800 units completed during the period, and 900 units 37% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost.
a. 9,543.
b. 8,310.
c. 8,100.
d. 8,643.
Answer:
d. 8,643
Explanation:
Calculation to determin the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories
Units Completed During the period 8,800 units
Add Units Completed at the end 333 units
(900 units *37% )
Less Units Completed at the beginning 490 units
(700 units* 70)
Number of equivalent units 8,643
Therefore the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories is 8,643
Ejercicios para la actividad 7.
1. Contrastar que, con el cambio de modelo de una máquina, el proceso se ha hecho más
variable. La varianza con el modelo anterior fue de 23.15. Se realizan 25 observaciones con el
nuevo modelo obteniéndose una varianza muestral
2. de 40.5. Utilice un 99% de confianza para realizar el contraste. (Contraste bilateral)
Answer:
i hope all are safe and gappy in this time take care of youreself also health first thsn any work
Each of Professor A and Professor B at UTD has a private secretary, who can type four letters per hour. The letters are generated at a rate of three per hour by each of the two professors, who have been wondering if they would benefit from pooling the two secretaries. Perform a queuing analysis. What is the average waiting time of a letter in the system.
Answer:
Average waiting time = 7.5 minutes
Explanation:
UTD private secretary can type the number of letters = 4 per hour by each.
By professor, the letter generated = 3 per hour by each
Thus by pooling the average time will be the time that comes by dividing the one hour with total letters in an hour.
Use the below formula:
Average waiting time = Minutes in one hour / total letters
Average waiting time = 60 / 8
Average waiting time = 7.5 minutes
trình bày các vai trò của đạo đức kinh doanh trong phát triển doanh nghiệp
Answer:
Explanation:
Trung thực: Tính trung thực trong đạo đức kinh doanh thể hiện ở chỗ không buôn bán, sản xuất những mặt hàng nhà nước cấm, không dùng các chiêu trò dối trá để đạt được lợi ích của mình, không trốn thuế, làm ăn phi pháp; không tham ô, hối lộ; trung thành chấp hành đúng quy định của pháp luật…
Tôn trọng con người: Tôn trọng con người bao gồm tôn trọng nhân viên, đối tác khách hàng, đối thủ cũng như tất cả những người làm việc cùng với mình
Đạo đức kinh doanh gắn liền lợi ích của công ty doanh nghiệp với lợi ích chung của khách hàng và trách nhiệm đối với xã hội
Both Bond Sam and Bond Dave have 8 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 3 years to maturity, whereas Bond Dave has 18 years to maturity. If interest rates suddenly rise by 5 percent, what is the percentage change in the price of Bond Sam
Answer: -12.1%
Explanation:
Bond Sam was priced at Par which means it could have been priced at $1,000 and its yield was the same as the coupon rate of 8%.
If interest rates rise by 5%, the yield becomes:
= 8% + 5%
= 13%
Price of bond is attached:
Yield = 13% /2 = 6.5% per semiannual period
Coupon = 8% * 1,000 * 0.5 = $40 per semi annual period
Period till maturity = 3 * 2 = 6 semiannual periods
Price = $878.97
Percentage change in price:
= (878.97 - 1,000) / 1,000 * 100%
= -12.1%
bài tập thực hành kế toán tài chính 1
Answer:
wut is this
Explanation:
financial acc practice ex 1
The master budget of a merchandising company includes a:_______
a. Production budget.
b. Direct materials budget.
c. Factory overhead budget.
d. Direct labor budget.
e. Purchases budget.
Answer:
a. Production budget.
Explanation:
hope it helps :>
what is a computer and its impact to society
Explanation:
computers have changed the way people relate to one another and their living environment as well as how humans organise their work and their time
Harry is a 70-year-old retiree who joined the AARP. To celebrate, he took his daughter to a restaurant and flashed his new AARP card when the check came, earning him a 15 percent discount. What kind of benefit has Harry just used
Answer: c. material
Explanation:
Material benefits refer to the financial benefits that one gets from being part of a group. They usually refer to group members getting discounts on certain things as well as being charged with a different rate than others.
Henry being in the AARP gets the material benefit of being able to get discounts at many different stores and businesses. It is the country's way of trying to ease the burden of being retired after working for so long.
Price ceilings will likely result in the development of black markets. increase production as producers respond to higher consumer demand at the low ceiling price. increase the volume of transactions as we move along the demand curve. result in the accumulation of surpluses.
Answer: result in the development of black markets.
Explanation:
Price ceilings are limits on the price that can be charged for a good or service. This means that suppliers will be unable to charge a certain price regardless of the cost incurred to produce that good.
Supplier usually respond to this by producing less goods and services which would leave a shortage in the market. This shortage will result in a black market where the prices the good will then be sold at will be higher than the price ceiling as people try to get the now relatively scarce goods and services.
Which statement does not describe a difference between government and household budgets? In the short term, economists would expect the budget deficits and surpluses to fluctuate up and down with the economy and the automatic stabilizers. Most economists view the proposals for a perpetually balanced budget with bemusement. Most economists agree with the proposals for a perpetually balanced budget. Economic recessions should automatically lead to larger budget deficits or smaller budget surpluses, while economic booms lead to smaller deficits or larger surpluses.
Answer:
Most economists view the proposals for a perpetually balanced budget with bemusement
Explanation:
A balanced budget is a budget where at the end of every year, revenue must equal expenditure. this type of budget can magnify the business cycle. This types of budget contrasts with a cyclically balanced budget
A Cyclically balanced budget is when in a recession, the government makes use of expansionary fiscal policy and in a boom, the government makes use of a contractionary fiscal policy to stabilise the economy. So, in a recession, deficits would be higher and in an expansion, surplus would be higher.
Government sector deficit occurs when government spending exceeds income of the government.
When deficit increases, debt increases. This is because a deficit would need to be funded by additional borrowing
When there is a surplus, government spending is less than the income of the government.
Assume the following data for Oshkosh Company before its year-end adjustments:
Unadjusted Balances
Debit Credit
Sales $51,600,000
Cost of Merchandise Sold $31,750,000
Estimated Returns Inventory 28,100
Customer Refunds Payable 115,400
Estimated cost of merchandise that will be returned in the next year $400,000
Estimated percent of refunds for current year sales 1.2%
Journalize the adjusting entries for the following:
(a) Estimated customer refunds and allowances.*
(b) Estimated customer returns.*
Refer to the Chart of Accounts for exact wording of account titles.*
CHART OF ACCOUNTS
Oshkosh Company
General Ledger
ASSETS
110 Cash
120 Accounts Receivable
125 Notes Receivable
130 Merchandise Inventory
131 Estimated Returns Inventory
140 Office Supplies
141 Store Supplies
142 Prepaid Insurance
180 Land
192 Store Equipment
193 Accumulated Depreciation-Store Equipment
194 Office Equipment
195 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
216 Salaries Payable
218 Sales Tax Payable
219 Customers Refunds Payable
220 Unearned Rent
221 Notes Payable
EQUITY
310 Owner, Capital
311 Owner, Drawing
312 Income Summary
REVENUE
410 Sales
610 Rent Revenue
EXPENSES
510 Cost of Merchandise Sold
521 Delivery Expense
522 Advertising Expense
524 Depreciation Expense-Store Equipment
525 Depreciation Expense-Office Equipment
526 Salaries Expense
531 Rent Expense
533 Insurance Expense
534 Store Supplies Expense
535 Office Supplies Expense
536 Credit Card Expense
539 Miscellaneous Expense
710
Interest Expense
Journalize the adjusting entries for the following: (a) Estimated customer refunds and allowances. (b) Estimated customer returns. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 10
JOURNAL
ACCOUNTING EQUATION
DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY
1
Adjusting Entries
2
3
4
5
Answer:
a. Dr Sales $619,200
Cr Customer Refunds Payable $619,200
b. Dr Estimated Returns Inventory $400,000
Cr Cost of Merchandise Sold $400,000
Explanation:
a. Preparation of the journal entry to record Estimated customer refunds and allowances
Dr Sales $619,200
($51,600,000 × 1.2%)
Cr Customer Refunds Payable $619,200
(To record Estimated customer refunds and allowances )
b. Preparation of the journal entry to Estimated customer returns
Dr Estimated Returns Inventory $400,000
Cr Cost of Merchandise Sold $400,000
(To record Estimated customer returns)
Two leading home appliance companies, Globex Inc. and Pug Tech, are in competition for market share. In their quest for exciting new products, Globex employs an open innovation model, while Pug Tech pursues a closed innovation model. Which of the following statements is most likely true?
a. Globex has a greater chance of capturing market share.
b. Pug Tech has a superior absorptive capacity.
c. Pug Tech will protect its intellectual property with patents and trade secrets.
d. Globex is most concerned with securing first-mover advantages.
Answer: c. Pug Tech will protect its intellectual property with patents and trade secrets.
Explanation:
A closed innovation model means that the company develops the product internally instead of through collaboration with external sources.
Pug Tech will therefore produce new products internally. As a result, they will be able to protect these products from being copied by others through patents and trade secrets because the law will recognize that they have exclusive rights to the new technology seeing as they came up with it.
Answer please I need help
Answer:
1st answer is 1,100
2nd answer is 1,050
You own 400 shares of Stock A at a price of $50 per share, 290 shares of Stock B at $75 per share, and 700 shares of Stock C at $27 per share. The betas for the stocks are .6, 1.2, and .5, respectively. What is the beta of your portfolio
Answer:
0.67
Explanation:
Beta measures the systemic risk of a portfolio
The portfolio's beta can be determined by adding together the weighted beta of each stock in the portfolio
weighed beta of a stock = percentage of the stock in the portfolio x beta of the stock
total number of stocks in the portfolio 400 + 290 + 700 = 1390
(400 / 1390 x 0.6) + (290 / 1390 x 1.2) + (700 / 1390 x 0.5) =
0.17 + 0.25 + 0.25 = 0.67
The demand and supply functions for basic cable TV in the local market are given as: Calculate the consumer and producer surplus in this market. If the government implements a price ceiling of $15 on the price of basic cable service, calculate the new levels of consumer and producer surplus. Are all consumers better off
Answer: Hello your question is poorly written attached below is the complete question
answer:
a) Cs = 800,000 , Ps = 1,500,000
b) Cs = 1437500, Ps = 525,000
Explanation:
Demand function ( Qd ) = 200,000 - 4000 P
supply function ( Qs ) = 20,000 + 2000 P
at equilibrium : 200,000 - 4000P = 20,000 + 2000P
therefore ; P = 180,000 / 6000 = 30
Q = 20,000 + 2000 ( 30 ) = 80,000
a) Determine consumer and producer surplus in the market
consumer surplus ( Cs ) This is the area above the price and below the demand curve = 1/2 * ( 50 - 30 ) 80,000 = 800,000
producer surplus ( Ps ) This is the area above supply and below price
= 30 * ( 80,000 ) - 1/2 (80,000 - 20,000 ) (30)
= 1,500,000
b) Determine the new levels of consumer and producer surplus with a price ceiling of $15
Pc (ceiling price ) = $15
Qd = 200,000 - 4000 ( 15 ) = 140,000
Qs = 20,000 + 2000 ( 15 ) = 50,000
∴ New consumer surplus = area ( a , Pc, b, d )
= ( 30 - 15 ) (50,000) + 1/2(50-30) (80,000) - 1/2 (80,000 - 50,000 ) (37.5 - 30)
= 1437500
New producer surplus = area ( Pc , b, e 0 )
= ( 15 ) ( 50000) - 1/2 ( 50,000 - 20,000 ) (15)
= 525,000
Khloe Company imports gift items from overseas and sells them to gift shops and department stores throughout the United States. Khloe Company provided the following information:
a. The October 31 balance in the cash account is $53,817.
b. All sales are on account. Sales in September were $950,000 and in October were $1,240,000.
c. November sales are expected to be $2,145,000.
d. In Khloe's experience, 70 percent of sales are collected in the month of sale and 28 percent are collected in the month following sale. The remaining credit sales are uncollectible.
e. Khloe purchases all merchandise on account. Purchases in September were $750,000 and in October were $980,000. November purchases are expected to be $2,000,000 as Khloe prepares for the Christmas buying season. Fifteen percent of purchases are paid in the month of purchase, while the remainder is paid in the month following the purchase month.
f. Khloe Company has nine employees who are paid a total of $48,000 per month. Due to timing issues, about 90 percent of total wages are paid in the month earned and the remaining 10 percent are paid in the following month.
g. Rent for Office and warehouse space is $12,300 paid monthly in cash.
h. Utilities average $6,100 per month and are paid in cash.
e. In November, Khloe expects to pay employment taxes of $6,625.
f. Since Khloe imports product from overseas, customs duty and shipping to the central location
g. Of 30 percent Of current monthly purchase cost must be paid in the month of purchase.
h. Other cash expenses for November are expected to be $41,500.
Required:
a. Prepare a cash budget for Khloe Company for the month of November.
b. What if Khloe faced a customs duty and shipping percentage of 35 percent How would that affect the November cash budget?
Answer:
Khloe Company
a. Khloe Company
Cash Budget for the month of November:
Beginning cash balance $53,817
Cash collections 2,269,120
Cash available $2,322,937
Cash payments:
Purchases $1,133,000
Wages 48,000
Rent expense 12,300
Utilities expense 6,100
Employment taxes 6,625
Customs duty and shipping 600,000
Other expenses 41,500
Total cash payments $1,847,525
Ending cash balance $475,412
b) The ending cash balance will be reduced by $100,000 from $475,412 to $375,412, with the total payments increased to $1,947,525.
Explanation:
a) Data and Calculations:
October 31 cash balance = $53,817
September October November
Sales on account $950,000 $1,240,000 $2,145,000
Cash collections:
70% month of sale $1,501,500
28% month following 767,620
2% uncollectible
Total cash collections for sales $2,269,120
September October November
Credit Purchases $750,000 $980,000 $2,000,000
Cash payments:
15% month of purchase $300,000
85% month following 833,000
Total cash payment for purchases $1,133,000
September October November
Wages Expense $48,000 $48,000 $48,000
Cash payment for wages:
90% month earned $43,200
10% month following 4,800
Total cash payment for wages $48,000
Other monthly cash payments:
Rent expense $12,300
Utilities expense $61,00
Employment taxes $6,625
Customs duty and shipping = $600,000 ($2,000,000 * 30%)
Other expenses $41,500
If customs duty and shipping were 35%
Customs duty and shipping = $700,000 ($2,000,000 * 35%)
The summarized balance sheets of Blossom Company and Nash Company as of December 31, 2021 are as follows:
Blossom Company Balance Sheet December 31, 2021
Assets $1750000
Liabilities $170000
Capital stock 875000
Retained earnings 705000
Total equities $1750000
Nash Company Balance Sheet December 31, 2021
Assets $1280000
Liabilities $280000
Capital stock 890000
Retained earnings 110000
Total equities $1280000
If Blossom Company acquired a 20% interest in Nash Company on December 31, 2021 for $300000 and the equity method of accounting for the investment were used, the amount of the debit to Equity Investments (Nash) would have been:__________
a. $300000.
b. $200000.
c. $256000.
d. $178000.
Answer:
The amount of the debit to Equity Investments (Nash) would have been:__________
b. $200,000.
Explanation:
a) Data and Calculations:
Blossom Company Balance Sheet December 31, 2021
Assets $1750000
Liabilities $170000
Capital stock 875000
Retained earnings 705000
Total equities $1750000
Nash Company Balance Sheet December 31, 2021
Assets $1280000
Liabilities $280000
Capital stock 890000
Retained earnings 110000
Total equities $1280000
Nash's net assets = $1,000,000 ($1,280,000 - $280,000)
Equity investment = 20% of $1,000,000 = $200,000
Goodwill on acquisition = $100,000 ($300,000 - $200,000)
Champion Toys just purchased some MACRS 5-year property at a cost of $230,000. The MACRS rates are 20 percent, 32 percent, 19.2 percent, 11.52 percent, 11.52 percent, and 5.76 percent for Years 1 to 6, respectively. Assuming the firm foregoes all bonus depreciation, the book value of the asset as of the end of Year 2 can be calculated as: _______________
a. $230,000(1 − .20 − .32).
b. $230,000([1 − (.20)(.32)].
c. $230,000(1 − .20)(1 − .32).
d. $230,000/(1 − .20 − .32).
e. $230,000(.20)(.32).
Answer: a. $230,000(1 − .20 − .32).
Explanation:
Using the MACRS convention, the depreciation in year 2 will be sum of the first and second year depreciation rates according to MACRS.
The value of the asset in year 2 can therefore be calculated as:
= Cost * ( 1 - sum of first and second year depreciation)
= 230,000 * (1 - (20% + 32%))
Which can be written as:
= 230,000 * (1 - 20% - 32%)
Value would therefore be:
= 230,000 * (1 - 20% - 32%)
= $110,400
Match the following with each others
a. Operating activity
b. Investing activity
c. Financing activity
d. Fixed assets
e. Long-term investments
f. Common stock
g. Dividends
h. Long-term debt
i. Bank deposit
j. Journal entry
1. Long-term tangible property that a firm owns
2. Distribution of earnings to shareholders
3. A stockholders' equity account
4. Used to record purchase of a fixed asset for a note
5. A 5-year note payable
6. Sales receipt
7. A financial instrument that matures in more than I year
8. Used to record amounts received from a note payable
9. Sale of common stock
10. Purchase of common stock
Answer:
1. Long-term tangible property that a firm owns
Correct match: Fixed assets
2. Distribution of earnings to shareholders
Correct match: Dividend
3. A stockholders' equity account
Correct match: Common stock
4. Used to record purchase of a fixed asset for a note
Correct match: Journal entry
5. A 5-year note payable
Correct match: Long term debt
6. Sales receipt
Correct match: Operating activity
7. A financial instrument that matures in more than I year
Correct match: Long term investment
8. Used to record amounts received from a note payable
Correct match: Bank deposit
9. Sale of common stock
Correct match: Financing activity
10. Purchase of common stock
Correct match: Investing activity
What is the process of managing costs
Answer:
Cost management is the process of estimating, allocating, and controlling project costs. The cost management process allows a business to predict future expenses to reduce the chances of budget overrun. Projected costs are calculated during the planning phase of a project and must be approved before work begins.
Explanation:
I know the answer by heart
Dawson Toys, Ltd., produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy:
Direct materials: 7 microns per toy at $0.33 per micron
Direct labor: 1.4 hours per toy at $6.70 per hour
During July, the company produced 5,000 Maze toys. The toy's production data for the month are as follows:
Direct materials: 70,000 microns were purchased at a cost of $0.29 per micron. 26,250 of these microns were still in inventory at the end of the month.
Direct labor: 7,500 direct labor-hours were worked at a cost of $54,750.
Required:
a. Compute the following variance for july
b. The materials price and quantity variances
c. The labor rate and efficiency variances
Answer:
Results are below.
Explanation:
To calculate the direct material price and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.33 - 0.29)*70,000
Direct material price variance= $2,800 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (5,000*7 - 43,750)*0.33
Direct material quantity variance= $2,887.5 unfavorable
To calculate the direct labor rate and efficiency variance, we need to use the following formulas:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (6.7 - 7.3)*7,500
Direct labor rate variance= $4,500 unfavorable
Actual rate= 54,750 / 7,500= $7.3
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (5,000*1.4 - 7,500)*6.7
Direct labor time (efficiency) variance= $3,350 unfavorable
On average, it takes one packaging and shipping employee 15 minutes to prepare a package and label, independent of the number or types of items in the shipment, plus 6 minutes per item to bubble wrap and pack it in the carton. What is the packaging and shipping cost assigned to Order 705, which has 40 items?
Question Completion:
Owl Company sells multiple products - very fragile hand carved stone owls. They use a time-driven ABC system. The company's products must be wrapped individually before shipping. The packaging and shipping department employs 12 people. Each person works 20 days per month on average. Employees in this department work an eight hour shift that includes a total of 75 minutes for breaks and a meal. The full compensation, including fringe benefits, for each packaging and shipping employee is $ 4,050 per month.
Answer:
Owl Company
The packaging and shipping cost assigned to Order 705, which has 40 items is:
= $127.50
Explanation:
a) Data and Calculations:
Number of people employed by the packaging and shipping department = 12
Working days per employee = 20 days per month on average
Shift per day = 8 hours
Minutes for breaks and a meal = 75 minutes per day
Total minutes spent working per month = (20 * 8 * 60) - (75 * 20) = 8,100
Salary per employee = $ 4,050 per month
Salary per minute = $0.50 ($4,050/8,100)
Minutes spent in preparing a package and label = 15 minutes
Minutes spent for bubble wrap and packaging = 6 minutes per item
Total Packaging and shipping cost = Total Minutes of labor used in Packaging (40 * 6 + 15) * Labor cost per minute
= 255 minutes * $0.50 per minute
= $127.50
A major distinction between a conventional bank and an Islamic bank is that Islamic banks __ are allowed to charge higher interest on loans. cannot accept private deposits. cannot pay or charge interest. are not subject to any form of law,
Answer:
cannot pay or charge interest.
Explanation:
Islamic banks are banks that are based on Islamic laws or Sharia laws which is found in the Qur'an.
In Islamic banking, all banking transactions must be compliant with the Sharia laws.
Islamic banks differ from conventional banks in that :
1. they prohibit usury : Usury is charging interest on loans
2. they prohibit all forms of speculation : Islamic laws prohibit all forms of gambling
3. Investments in items that are not allowed in the Qur'an e.g. alcohol
Islamic bank use equity participation to make money. When an Islamic bank lends money to a business, instead of charging interest on the loan, the receive equity in that business and are entitled to a part of the company's shares
Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its preferred and common stock: Preferred stock, $30 par, 12% cumulative; 300,000 shares authorized; 150,000 shares issued and outstanding Common stock, $2 par; 2,500,000 shares authorized; 1,200,000 shares issued; 1,000,000 outstanding As of December 31, 2019, Lemon was 3 years in arrears on its dividends. During 2020, Lemon declared and paid dividends. As a result, the common stockholders received dividends of $0.45 per share. Required: 1. What was the total amount of dividends declared and paid during 2020? Total dividends declared and paid $fill in the blank c3f04df87fe8040_1 2. During 2020, what journal entry was made at the date of declaration?
Answer:
1. $2,610,000
2. Dr Dividends $2,610,000
Cr Dividends Payable $2,610,000
Explanation:
1. Calculation to determine the total amount of dividends declared and paid during 2020
Arrear Preferred Dividends $1,620,000 (150,000*30*12%*3 years)
Add Current Preferred Dividends $540,000 (150,000*30*12%)
Add Common stock Dividends $450,000 (1,000,000*$0.45 )
Total amount of dividends declared and paid $2,610,000
Therefore the total amount of dividends declared and paid during 2020 is $2,610,000
2. Preparation of the journal entry was made at the date of declaration
Dr Dividends $2,610,000
Cr Dividends Payable $2,610,000
Required: 1. What was ? Total dividends declared and paid $fill in the blank c3f04df87fe8040_1 2. During 2020, what journal entry was made at the date of declaration?
You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.62 and the total portfolio is exactly as risky as the market, what must the beta be for the other stock in your portfolio
Answer:
1.71
Explanation:
Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.
The beta of a risk free asset is zero
The portfolio's beta can be determined by adding together the weighted beta of each stock in the portfolio
weighed beta of a stock = percentage of the stock in the portfolio x beta of the stock
1 = (0.3 x 1.62) + (0.3 x 0) + (0.3 x a)
1 = 0.486 + 0 + 0.3a
1 - 0.486 = 0.3a
a = 1.71
Heat Tough Inc. makes heat-proof copper cookware in the United States, and it is looking to distribute its products in Europe. Rather than build and maintain a manufacturing facility in the United Kingdom, the company decides to ship its products directly from its plant in Illinois. What type of entry mode is the company using
Answer: Exporting
Explanation:
Exporting is the cheapest method of entering another market because it does not involve the building or maintenance of any business in the new market and neither does it involve any profit sharing as all the profits go to the company exporting.
With exporting, a company just ships its products to the new market it wants to enter without establishing a presence. Companies there will then buy these goods and sell them. This is what Heat Tough Inc is doing so this must be exporting.
Billy Bob Company manufactures fine furniture and grandfather clocks. Billy Bob has an excellent reputation, and each grandfather clock sells for several thousand dollars. Which of the following is an indirect cost, assuming the cost object is the Clock Department?
a) Salary of the clock production supervisor
b) Depreciation on the company's factory building
c) Depreciation on clock-making equipment.
d) All of the answers are correct
Answer:
Billy Bob Company
Indirect Costs are:
d) All of the answers are correct
Explanation:
The indirect costs cannot be directly identified with a single grandfather clock. They are not direct costs but are allocated to the Clock Department. For example, Billy Bob Company incurs these indirect costs for producing grandfather clocks: the Clock Department's supervisor's salary expenses, Depreciation on factory building and clock-making equipment, and other indirect materials and labor.
