Answer: Please see explanation for answers
Explanation:
Age Group Amount Estimated Percent Estimated Amount
Receivable Uncollectible Uncollectible
Not yet due $ 32,000 4 % $1,280
0-30 days past due 10,200 6 % $612
31–60 days past due 7,200 12 % $864
More than 60 days past due 2,600 30 % $780
Total $ 52,000 $3536
Calculation
1) Estimated Amount Uncollectible = Amount Receivable x Estimated Percent Uncollectible =
4% x 32,000= $1,280
6% x 10,200=$612
12% x 7,200=$864
30% x2600=$780
Total = $3,536
The allowance for uncollectible accounts = $3,536
2) Journal to Record the December 31, 2021, adjustment for a debit of $400
Estimated Amount Uncollectible =$3,536
Adjusted = $3536 + debit $400=$3,936
Date Account Debit Credit
Dec 31, 2021, Bad debts Expense $3,936
Allowance for uncollectible accounts $3,936
3) Journal to Record the write-off of $500
Date Account Debit Credit
April 3, 2022, Allowance for uncollectible
accounts $500
Accounts receivable $500
4a)Journal to reinstate the account previously wrtten off On July 17, 2022
Date Account Debit Credit
July 17, 2022, Accounts receivable $100
Allowance for uncollectible accounts $100
4b)Journal to record collection of cash
Date Account Debit Credit
July 17, 2022, Cash $100
Accounts receivable $100
A Journal Entry refers to simply a summary of the debits and also credits of the transaction entry to the Journal. When A Journal entries are important to the transaction because they allow us to sort our transactions into manageable data.
Age Group Amount Estimated Percent Estimated Amount
Receivable Uncollectible Uncollectible
Not yet due $ 32,000 4 % $1,280
0-30 days past due 10,200 6 % $612
31–60 days past due 7,200 12 % $864
More than 60 days past due 2,600 30 % $780
Total $ 52,000 $3536
The formula apply Then we Estimated the Amount Uncollectible is =
Amount Receivable x Estimated Percent *Uncollectible =
4% x 32,000= $1,280
6% x 10,200= $612
12% x 7,200= $864
30% x2600= $780
Then the Total is = $3,536
The allowance for uncollectible accounts = $3,536
Journal Entry
2) Journal to Record the December 31, 2021, adjustment for a debit of $400
Estimated Amount Uncollectible =$3,536
Adjusted = $3536 + debit $400=$3,936
Date Account Debit Credit
Dec 31, 2021, Bad debts Expense $3,936
Allowance for uncollectible accounts $3,936
3) Journal to Record the write-off of $500
Date Account Debit Credit
April 3, 2022, Allowance for uncollectible
accounts $500
Accounts receivable $500
4a)Journal to reinstate the account previously written off On July 17, 2022
Date Account Debit Credit
July 17, 2022, Accounts receivable $100
Allowance for uncollectible accounts $100
4b)Journal entry to the record collection of cash
Date Account Debit Credit
July 17, 2022, Cash $100
Accounts receivable $100
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A single-channel queuing system has an average service time of eight minutes and an average time between arrivals of 10 minutes. The arrival rate is: Group of answer choices 10 per hour. 12.5 per hour. 6 per hour. 7.5 per hour. 8 per hour.
The correct answer is B. 6 per hour
Explanation:
The term "arrival rate" refers to the number of customers that arrive at a business during a specific time such as an hour or a day. This is determined by how often customers arrive or the time between arrivals. This concept complements the service rate, which refers to the customers that receive a service during a period of time.
In the case presented, it is known the time between arrivals is 10 minutes, this means it is expected every 10 minutes a new customer arrives. Based on this, each hour the business can expect a total of 6 customers as 60 minutes divided by 10 (time between arrivals) = 6 customers. Thus, the rate of arrival is 6 per hour.
On July 1, 2017, Lopez Company paid $1,400 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017. Zim Company has a Supplies account balance of $5,400 on January 1, 2017. During 2017, it purchased $2,200 of supplies. As of December 31, 2017, a supplies inventory shows $900 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2017.
Answer:
Lopez Company
the journal entries to record prepaid insurance:
July 1, 2017, 6 months of insurance are prepaid
Dr Prepaid insurance 1,400
Cr Cash 1,400
the adjusting entry made on December 31 to record insurance expense:
December 31, 2017, insurance expense
Dr Insurance expense 1,400
Cr prepaid insurance 1,400
Zim Company
supplies account initial balance $5,400
then it purchased $2,200 worth of supplies during the year
final account balance $900
supplies expense = $5,400 + $2,200 - $900 = $6,700
Adjusting journal entry:
December 31, 2017, supplies expense
Dr Supplies expense 6,700
Cr Supplies 6,700
Ending balances:
Supplies expense account $6,700Supplies account $900All firms, no matter the type of firm structure in which they are producing, make their production decisions based on the point where their: Group of answer choices
Answer:
The answer is B.
Explanation:
The profit maximisation point is the point where marginal revenue equals marginal cost(MR = MC). At this point, total revenue is maximized.
Marginal revenue is the change in total revenue when additional units is sold or made while marginal cost is the change in total cost when additional unit of output is made.
When MR > MC, the firm is not manufacturing or producing enough goods and when MC > MR, it means the firm is manufacturing or producing too much and it is making loss with each additional production.
Electronic communication:_____.
a. prevents gossip, insults, threats, harassment, and the release of confidential information.
b. enables participants to pick up on subtle, nonverbal, or inflectional clues.
c. always leads to more satisfying negotiations.
d. requires lessening participation in communication to fewer people.
e. can reduce time and expenses devoted to traveling.
Electronic communication can reduce the time and expenses devoted to traveling. option (E) is correct.
What is communication?The transfer of information is the standard definition of communication. The phrase may also be used to describe the message sent through such transmissions or the area of research that focuses on them. There are several differences of opinion regarding its exact definition.
Any form of communication that is broadcast, transmitted, stored, or viewed using electronic media, such as computers, phones, email, and video, is referred to as electronic communication. But each has a particular purpose and is more appropriate in certain circumstances. A few types of electronic communication include email, instant messaging, websites, blogs, text messages, voicemail, and video messaging.
Therefore, option (E) is correct.
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A publisher is deciding whether or not to invest in a new printer. The printer would cost $900, and would increase the cash flows in year 1 by $500 and in year 3 by $800. Cash flows do not change in year 2.If the interest rate is 12% Is the investment in the new printer feasible?
Answer:
Yes, since NPV>0
Explanation:
The computation of the net present value is shown below:
= Present value of cash inflows - initial investment
where,
Present value of cash inflows is
= $500 ÷ (1 + 0.12)^1 + $800 ÷ (1 + 0.12)^3
= $446.43 + $569.42
= $1,015.85
And the intial investment is $900
So, the net present value is
= $1,015.85 - $900
= $115.85
Since the net present value comes in positive so the investment in new printer is feasible
Suppose that fixed investment is $480 billion and (total) investment is $630 billion. What does inventory investment equal?
Answer:
$150 billion
Explanation:
Calculation of What does the inventory in
Investment equal
Using this formula
Inventory in Investment =Total investment - Fixed investment
Let plug in the formula
Inventory in Investment=$630 billion-$480 billion
Inventory in Investment=$150 billion
Therefore the inventory investment equal $150 billion .
g A company issues 9% bonds with a par value of $170,000 at par on January 1. The market rate on the date of issuance was 8%. The bonds pay interest semiannually on January 1 and July 1. The cash paid on July 1 to the bond holder(s) is:
Answer:
$7,650
Explanation:
Calculation for the cash paid on July 1 to the bond holder(s)
Using this formula
Cash=Par value×Bonds percentage× Semiannual Interest
Semiannual means 6 months or half of the year.
Let plug in the formula
Cash=$170,000×0.09×1/2 year
Cash=$7,650
Therefore the cash paid on July 1 to the bond holder(s) will be 7,650
A firm has a required return of 14.2% and a beta of 1.63. If the risk-free rate is currently 5.4%, what is the expected return to the market? Assume that CAPM is correct.
Answer:
10.8%
Explanation:
Required rate of return = Risk free rate + Beta x ( Expected rate - Risk free rate )
14.2% = 5.4% + 1.63 x ( market rate - 5.4% )
14.2% - 5.4% = 1.63 x ( market rate - 5.4% )
8.8% / 1.63 = market rate - 5.4%
5.4% = market rate - 5.4%
Market rate = 5.4% + 5.4%
Market rate = 10.8%
Market rate = 10.8%
Which of the following is one of the two fundamental issues that the recommendations of the 1947 Hutchins Commission on social responsibility in journalism were based on?a. Society's welfare is paramount. b. Morality should be a business practice. c. Corporate responsibility is essential. d. The golden rule should be written in stone.
Answer:
a. Society's welfare is paramount.
Explanation:
A commission on the freedom of press also known as "The Hutchins Commission" was formed in the United States of America (USA) during the World War II (WWII) by Robert Maynard Hutchins.
In 1947 after deliberating on the issues of press for four (4) years, the Hutchins Commission concluded that society's welfare is paramount, this is one of the two fundamental issues that the recommendations of the 1947 Hutchins Commission on social responsibility in journalism is based on. The commission stated that the development and stability of a society is influenced by the operations of the press and as such it is very important that the mass media (press) is socially responsible.
Some of the guidelines or recommendations made by the Hutchins Commission for the press are;
1. Present meaningful, reliable and accurate news to the general public; not opinions.
2. Present an overall view of what was known about society.
3. Avail the citizens an opportunity for constructive criticism and exchange of comment about the government.
Your text outlines three basic categories of electronic commerce applications: business-to-consumer (B2C), business-to-business (B2B) and consumer-to-consumer (C2C). B2C applications:_______.
A. Involve businesses developing attractive electronic marketplaces to entice customers and sell products and services to consumers.
B. Involve both electronic business marketplaces and direct market links between businesses .
C. Involve consumers buying and selling with each other in an auction process at an auction website, as well as personal advertising of products or services to buy or sell at electronic newspaper sites or personal websites.
D. None of the choices are correct.
Answer:
A. Involve businesses developing attractive electronic marketplaces to entice customers and sell products and services to consumers.
Explanation:
The Business to Consumer (B2C) sales strategy corresponds to a type of sale aimed at the final consumer. This sale takes place at retail, and occurs according to the consumer purchase decision process, which identifies their needs, judges the options according to their preferences and desires and finally chooses the option that best suits their search for a particular product or service.
Therefore, in the B2C strategy, retail companies have as main objective to create in the consumer the desire for a purchase, so the most appropriate option for this issue is that developing attractive electronic markets will help the company to attract customers and sell products and services to consumers.
Cole Co. began constructing a building for its own use in January 2016. During 2016, Cole incurred interest of $50,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during 2016 was $40,000. What amount of interest should Cole capitalize?
Answer:
$40,000
Explanation:
The accounting procedure involved in the above is that one picks the lower between the actual interest incurred and the interest computed on the weighted average amount of accumulated expenditures for PPE.
The actual interest incurred on specific construction debt and other borrowings
= $50,000 + $20,000
= $70,000
Since the interest computed on the weighted average amount of accumulated expenditure for the building is $40,000 , the lower between the actual interest incurred and interest on weighted average amount of accumulated expenditure is $40,000, hence will be the capitalized amount.
Knight Inventory Systems, Inc., has announced a rights offer. The company has announced that it will take three rights to buy a new share in the offering at a subscription price of $53. At the close of business the day before the ex-rights day, the company’s stock sells for $80 per share. The next morning, you notice that the stock sells for $65 per share and the rights sell for $2 each.
Required:
a. Are the stock and the rights correctly priced on the ex-rights day?
b. Describe a transaction in which you could use these prices to create an immediate profit.
Answer:
a. Are the stock and the rights correctly priced on the ex-rights day?
stock price at ex-right = [(3 x $80) + $53] / 4 = $73.25
cost of ex-right = $80 - $73.25 = $6.75
the rights are underpriced since they are sold at $2, and they should sell at $6.75
b. Describe a transaction in which you could use these prices to create an immediate profit.
You can purchase 3 rights at $6 and then pay subscription price ($53) and you would have an stock at $59. Your profit = $65 - $59 = $6 per stock.
The marketing team of a regional airline company plans to launch a new marketing campaign to draw more customers to its flights. Select the first three planning steps the marketing team should take to begin the campaign:
Explanation:
1. advertising
2. distribution
3. well crafted
Determine the target market, define purpose and objectives for IMC campaign, set S.M.A.R.T. goals are the first three planning steps the marketing team should take to begin the marketing campaign.
What is marketing campaign?An integrated marketing communication is made up of a number of advertisement messages that all have the same idea and theme. A platform known as an IMC allows a collection of people to combine their views, ideas, and ideologies into one sizable media base.
Marketing efforts can help you find new consumers and raise brand awareness. They also help to establish a reputation, engage customers, and tell your target market about the most recent goods and services. They are therefore critically necessary for any firm.
Therefore, the marketing team's first three planning phases before launching the campaign should be to identify the target market, establish the purpose and objectives for the IMC campaign, and set S.M.A.R.T. goals.
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Parwin Corporation plans to sell 40,000 units during August. If the company has 16,500 units on hand at the start of the month, and plans to have 17,500 units on hand at the end of the month, how many units must be produced during the month?
Answer:
41,000 units
Explanation:
The computation of units must be produced during the month is shown below:-
Units Produced = Units at Year End - Units at beginning + Units Sold
= 17,500 units - 16,500 units + 40,000 units
= 57,500 units - 16,500 units
= 41,000 units
Therefore for computing the units produced during the month we simply applied the above formula.
The company must produce 41000 units during the month. The entire cost of direct materials and labor as well as the total cost of manufacturing overhead may be added together to get the overall cost of the product.
Below is a calculation of the number of units that must be generated during the month:-
Units Produced = Units at Year's End - Units at Start + Units Sold
40,000 units + 17,500 units less than 16,500 units.
16,500 units less than 57,500 units
= 41,000 units
Therefore, we used the aforementioned calculation to calculate the number of units generated throughout the month.
All of the direct and indirect expenses firms incur when producing a good or rendering service are referred to as production costs. Various expenditures, including labor, raw materials, consumable manufacturing supplies, and general overhead, might be included in production costs.
Various expenditures, including labor, raw materials, consumable manufacturing supplies, and general overhead, might be included in production costs.
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a project will produce cash inflows of 5400 a year for 3 years with a final cash inflow of 2400 in year 4. The projects initial cost is 13400. what is the net present value if the required rate of return is 14.2 percent?
Answer:
NPV = $505.9242271 rounded off to $505.92
Explanation:
The NPV or net present value is an important metric that is used for project and investment evaluation. The NPV is the present value of the series of cash flows provided by the project less the initial cost incurred to undertake the project. NPV can be calculated as follows,
NPV = CF1 / (1+r) + CF2 / (1+r)^2 + .... + CFn / (1+r)^n - Initial cost
Where,
CF1, CF2 and so on represents the cash flow in year 1 , cash flow in year 2 and so onr represents the required rate of returnNPV = 5400 / (1+0.142) + 5400 / (1+0.142)^2 + 5400/ (1+0.142)^3 +
2400 / (1+0.142)^4 - 13400
NPV = $505.9242271 rounded off to $505.92
Bandar Industries Berhad of Malaysia manufactures sporting equipment. One of the company’s products, a football helmet for the North American market, requires a special plastic. During the quarter ending June 30, the company manufactured 3,400 helmets, using 2,346 kilograms of plastic. The plastic cost the company $15,484. According to the standard cost card, each helmet should require 0.64 kilograms of plastic, at a cost of $7.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance?
Answer:
1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets?
3,400 helmets x 064 kgs per helmet = 2,176 kgs
2. What is the standard materials cost allowed (SQ × SP) to make 3,400 helmets?
2,176 kgs x $7 per kg = $15,232
3. What is the materials spending variance?
$15,484 - $15,232 = $252 unfavorable (because total expenditures on materials were higher than budgeted)
4. What is the materials price variance and the materials quantity variance?
materials price variance = [($15,484/2,346) - $7] x 2,346 = -$938 favorable (the purchase price per kg was lower than budgeted)
materials quantity variance = (2,346 - 2,176) x $7 = $1,190 unfavorable
Inventory Analysis A company reports the following: Cost of goods sold $347,480 Average inventory 86,870 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
Answer:
a. 4
b. 91.25 Days
Explanation:
a. Inventory Turnover = Cost of goods sold/ Average Inventory
= $347,480 / 86,870
= 4
b. Number of days sales in Inventory = Inventory/ COGS*365
= 86,870 / $347,480 * 365
= 91.25 Days
Tom and Jerry's has 2.4 million shares of common stock outstanding, 2.4 million shares of preferred stock outstanding, and 14.00 thousand bonds. If the common shares are selling for $13.40 per share, the preferred share are selling for $10.40 per share, and the bonds are selling for 99.96 percent of par, what would be the weight used for common stock in the computation of Tom and Jerry's WACC
Answer:
Tom and Jerry's
The weight used for common stock in the computation of Tom and Jerry's WACC is:
= 45.22%
Explanation:
a) Data and Calculations:
Common Preferred Bonds
Stock Stock
Outstanding number 2.4 m 2.4 m 14,000
Market price per share $13.40 $10.40 $999.6
Total value $32.16 m $24.96 m $13,994,400
Total value of stock and bonds = $71,114,400
Weight of common stock = $32.16/$71.1144 * 100 = 45.22%
TB MC Qu. 8-187 The Charade Corporation is preparing its ... The Charade Corporation is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable manufacturing overhead is $5 per direct labor-hour; the budgeted fixed manufacturing overhead is $95,000 per month, of which $17,000 is factory depreciation. If the budgeted direct labor time for November is 9,000 hours, then the total budgeted manufacturing overhead for November is:
Answer:
Allocated MOH= 140,000
Explanation:
Giving the following information:
The budgeted variable manufacturing overhead is $5 per direct labor-hour
The budgeted fixed manufacturing overhead is $95,000 per mont
The budgeted direct labor time for November is 9,000 hours
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= (5*9,000) + 95,000
Allocated MOH= 140,000
Your supervisor instructs you to purchase 480 pens and 6 staplers for the workplace. Pens are purchased in sets of 6 for $2.45. Staplers are sold in sets of 2 for $14.95. How much will the purchase of these products cost?
Answer:
Total cost= $225.9
Explanation:
Giving the following information:
Your supervisor instructs you to purchase 480 pens and 6 staplers for the workplace.
Pens are purchased in sets of 6 for $2.45.
Staplers are sold in sets of 2 for $14.95.
First, we need to calculate the number of "packs" to buy:
Pens= 480/6= 80
Staplers= 6/2= 3
Total cost= 80*2.45 + 2*14.95= $225.9
This is where what I call a deviant comes in. Every team needs a deviant, someone who can help the team by challenging the tendency to want too much homogeneity, which can stifle creativity and learning. Deviants are the ones who stand back and say, ‘Well, wait a minute, why are we even doing this at all? What if we looked at the thing backwards or turned it inside out?’ That’s when people say, ‘Oh, no, no, no, that’s ridiculous,’ and so the discussion about what’s ridiculous comes up. Unlike the CFO I mentioned before, who derailed the team by shutting down discussions, the deviant opens up more ideas, and that gets you a lot more originality. In our research, we’ve looked carefully at both teams that produced something original and those that were merely average, where nothing really sparkled. It turned out that the teams with deviants outperformed teams without them. In many cases, deviant thinking is a source of great innovation."According to Hackman, a deviant may help a group consider _______, but if the deviant has a strong personality and limits the input of others, the problem of ________ , may arise.
Answer:
According to Hackman, a deviant may help a group consider out-of-box thinking, but if the deviant has a strong personality and limits the input of others, the problem of complacency, may arise.
Explanation:
It's from the book "Leading Teams" of J. Richard Hackman, the Edgar Pierce Professor of Social and Organizational Psychology at Harvard University and a leading expert on teams.
Putting an X in the appropriate spot, classify the costs highlighted in yellow as: Direct Material, Direct Labor, Overhead, or Period Costs. Other costs have been provided for you.
The fixed and variable cost classifications have been provided for you.
Item/ Direct Direct Manufacturing Period Fixed Variable
Cost Material Labor Overhead Costs
Groomer x X
Day care attendant x X
Receptionist x X
Kennel attendant x
Food and water bowls x X
Fencing for day care area x
Installation of fencing x
Dog grooming arm (attaches to table)
12 kennels cost
Depreciation on kennels
Rent X
Utilties and insurance X
Grooming table x X
Grooming tub 48" x X
Heating system x X
Depreciation on heating system X
Clippers x
Shampoo (Crystal Clear:
five-gallon pail) x X
Cage bank (set of five)
Salon Tuff Capri mobile carry cart
Towels x
Scissors (7-inch straight,
ear & nose) x
Toys (used in day care only) x X
Cleaning products (used
throughout) x X
Dryer x
Rubberized flooring (day care) X
Loan X
Draw X
Answer:
The following costs are classified appropriately under the following heading:
Direct Material:
Food and water bowls
Dog grooming arm
12 kennels cost
Grooming table
Grooming tub 48"
Shampoo (Crystal Clear: five-gallon pail)
Cage bank (set of five)
Salon Tuff Capri mobile carry cart
Towels
Scissors (7-inch straight, ear & nose)
Toys (used in day care only)
Cleaning products (used throughout)
Dryer
Direct Labour:
Groomer
Day care attendant
Receptionist
Kennel attendant
Rubberized flooring (day care)
Overhead:
Fencing for day care area
Installation of fencing
Utilties and insurance
Heating system
Draw
Period Cost:
Depreciation on kennels
Rent
Depreciation on heating system X
Clippers
Loan
Explanation:
Simon Company’s year-end balance sheets follow.
At December 31 2017 2016 2015
Assets
Cash $26,403 $29,364 $29,991
Accounts receivable, net 73,552 52,436 40,392
Merchandise inventory 96,214 70,676 43,017
Prepaid expenses 8,255 7,944 3,467
Plant assets, net 230,047 214,124 189,133
Total assets $434,471 $374,544 $306,000
Liabilities and Equity
Accounts payable $107,101 $64,564 $40,392
Long-term notes payable secured by
mortgages on plant assets 82,497 84,422 66,273
Common stock, $10 par value 162,500 162,500 162,500
Retained earnings 82,373 63,058 36,835
Total liabilities and equity $434,471 $374,544 $306,000
Required:
a. Compute the current ratio for the year ended 2017, 2016, and 2015.
b. Compute the acid-test ratio for the year ended 2017, 2016, and 2015.
Answer:
A.Current ratio
2017 191%
2016 248%
2015 289%
B.Acid Test Ratio
2017 101%
2016 139%
2015 183%
Explanation:
A.Computation of the current ratio for the year ended 2017, 2016, and 2015.
Using this formula
Current Ratio =Current Assets / Current Liabilities
2017 2016 2015
Cash $26,403 $29,364 $29,991
Accounts receivable, net
73,552 52,436 40,392
Merchandise inventory 96,214 70,676 43,017
Prepaid expenses 8,255 7,944 3,467
a.Current asset
204,424 160,420 116,867
b.Current Liabilities
Accounts payable $107,101 $64,564 $40,392
Let plug in the formula
(a) / (b) Current Ratio 191% 248% 289%
Therefore the Current ratio are:
2017 191%
2016 248%
2015 289%
B.Computation for acid-test ratio for the year ended 2017, 2016, and 2015.
Using this formula
Acid Test Ratio=Current Assets / Current Liabilities
2017 2016 2015
Cash $26,403 $29,364 $29,991
Accounts receivable, net
73,552 52,436 40,392
Prepaid expenses 8,255 7,944 3,467
a. Current asset
108,210 89,744 73,850
b. Current liabilities
Accounts payable $107,101 $64,564 $40,392
Let plug in the formula
(a) / (b)Acid Test Ratio 101% 139% 183%
Therefore the Acid Test Ratio are:
2017 101%
2016 139%
2015 183%
Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PB0 report from the actuary. The following information was included in the report: ending PBO, $110,000 benefits paid to retirees. $10,000, interest cost, $7,200. The discount rate applied by the actuary was 8%. What was the beginning PBO?
A) $100,000
B) $112,000.
C) $90,000.
D) $107,200.
Answer:
C) $90,000
Explanation:
Beginning PBO = Interest cost/Discount rate =
Beginning PBO = $7,200/8%
Beginning PBO = $90,000
When working on a reconciliation, the Reconciliation screen has all the transaction data you need. On the Reconciliation screen, by default, the list of transactions hides transactions that occur after the statement end date. To show all transactions _______________________________ or select the Clear filter/View all link in this same area to remove all filters. Which option below would correctly fill the space above? A) "Statement ending date filter" in the upper left corner of the transaction list B) "Statement ending date filter" at the right side of the transaction listC) "Statement ending date filter" in the upper left corner of the transaction list D) Statement ending date filter in the upper left corner of the transaction list
Answer:
Correct Answer:
B) "Statement ending date filter" at the right side of the transaction list
Explanation:
The above option was the one that would enable someone to show all transactions when the person is working on a business reconcillation account of an organization.
Evaluate the Ritz-Carlton business model and associate key quality characteristics in the operations of a hotel set-up process.
Answer:
Ritz Carlton is luxury hotel chain of America. The company has 101 luxury hotel in more than 30 countries of the world. The success of Ritz Carlton is mainly because they keep the comfort of their guests as their highest priority. Their mission statement clearly states that comfort and genuine care of their guests is utmost important to them.
Explanation:
Their business model focuses entirely on their customers. Ritz Carlton has created its leading brand by providing great ambiance to the visitors and its guest. One can dream of staying at such luxury hotel. They are famous for their hospitality of their guests. The hotel management believes on total quality management. It has set highest standard for themselves and strive to meet them by providing better and better service to its guests.
Suppose an industry earns a rate of return of 10%, which is twice as high as that of competitive industries, 5%. How much is the price overcharge of that industry, if its capital is valued at half its annual revenue
Answer:
Let us assume that both the industries are having an investment of $100,000
The profit of the given industry which is having 10% rate of return will be $100,000 * 10% = $10,000
The other industry which is having the Rate of return of 5% will earn a profit of $100,000 * 5% = $5000.
As the capital is just half of the revenue, it signifies that the total revenue will be $200,000 . So the same value of $10,000 will be 5% of the total revenue. On the other hand, $5,000 would be 2.5% of total revenue.
Thus, the first stated industry will charge 2.5% more than the other industry.
True or false: A flexible budget reporting sales volumes at three different levels will have the same fixed costs.
Answer:
True
Explanation:
A flexible budget is a budget in which you modify the activity levels to reflect changes in sales to help the company adjusts to different circumstances that may occcur. Also, in this budget the fixed costs remain constant and the variable costs change with the activity levels. According to this, the answer is that the statement that says that a flexible budget reporting sales volumes at three different levels will have the same fixed costs is true.
It is true that a flexible budget presenting sales volumes at three levels would have the same fixed expenses.
Flexible budget:A flexible budget is one in which activity levels are adjusted to reflect sales performance, allowing the organization to respond to unforeseen events.
Furthermore, in this budget, fixed expenditures stay constant while variable costs vary according to activity levels. The assumption that a flexible budget reporting sales volumes at three distinct levels will have the same fixed expenses.
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Collins Company reported consolidated revenue of $120,000,000 in 20X8. Collins operates in two geographic areas, domestic and Asia. The following information pertains to these two areas:
Sales to External Interarea Sales
Customers Between Affiliates
Domestic $70,000,000 $12,000,000
Asia $50,000,000 $8,000,000
What calculation below is correct to determine if the revenue test is satisfied for the Asian operations?
a. $58,000,000/$120,000,000.
b. $50,000,000/$140,000,000.
c. $58,000,000/$140,000,000.
d. $50,000,000/$120,000,000.
Answer:
d. $50,000,000/$120,000,000
Explanation:
The computation of the correct calculation when the revenue test is satisfied is shown below:
As we can see that the fourth option is correct i.e.
= Asian sales ÷ Total consolidated sales.
= $50,000,000 ÷ $120,000,000
Here the affiliate sales are not relevant so the same is not considered
Hence, the correct option is d.
Suppose the exchange rate is 90 yen per U.S. dollar and the United States wants to keep the exchange rate at a target rate of 90 yen per U.S. dollar. If the demand for U.S. dollars decrease, the Fed ______
A. buys dollars to raise the exchange rate
B. sells dollars to raise the exchange rate
C. sells dollars to lower the exchange rate
D. buys dollars to lower the exchange rate
Answer:
Option A, buys dollars to raise the exchange rate, is the right answer.
Explanation:
Option A is correct because when the Fed will buy the dollars then only the demand for dollars will shift rightwards. Consequently, the dollar price or exchange rate will go up. Therefore, the Fed will buy the dollars to increase the exchange rate. In another case, if the Fed wants to decrease the exchange rate then it will sell the dollars, and selling of dollars will shift the supply rightwards. Thus, the exchange rate will fall.
The value of the currency of a country as contrasted to the other country or the economic region is called an exchange rate.
The correct answer is:
Option A. buys dollars to raise the exchange rate.
This can be explained as:
When Fed will purchase a dollar then, there will be shifts towards the right.The transfer rate or the dollar price will rise.So to enhance the economic measure dollar should be purchased.To reduce the exchange rate dollar should be sold.Therefore, Fed should buy dollars.
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