Answer:
Dr Cash $500,000
Dr Discount on bompnd payable $45,000
Cr Bond payable $500,000
Cr Additional paid in capial - Conversion feature $45,000
Explanation:
Preparation of the journal entry for Branson to record the issuance of the convertible bonds.
Based on the information given we were told that the Corporation issued the amount of $500,000 of convertible bonds at par value and as well had Similar bonds that does not have the conversion feature which would have been sold for the amount of $455,000 which means that the journal entry to record the issuance of the convertible bonds will be:
Dr Cash $500,000
Dr Discount on bompnd payable $45,000
($500,000-$455,000)
Cr Bond payable $500,000
Cr Additional paid in capial - Conversion feature $45,000
(To record the issuance of the convertible bonds)
The study of modern management began in the late nineteenth century with the _______ and is centered around scientific management, bureaucratic organizations, administrative principles, and management science.
Answer:
the classical perspective
Explanation:
The term that is being described in this question is known as the classical perspective. This perspective revolves around the aspects mentioned with focus on efficiency, productivity, and output of employees in order to make sure the organization is operating as efficiently as possible as a whole entity. This completely excludes the human or behavioral attributes of the underlying employees.
Which role does money have in economic systems?
a
b
a good to consume
a measure of satisfaction
a resource for production
a medium of exchange
d
Answer:
a medium of exchange
Explanation:
a medium of exchange is a resource used to make sales or earn a profit. A medium of exchange requires a set value and the only answer here that makes sense for money is that of the medium of exchange.
In 1990, Johnson Company purchased a building for . In 2020, a real estate professional says the building has a fair value of . In 2020, a similar building down the street recently sold for $900,000. What value, before consideration of accumulated depreciation, is reported for the building on the balance sheet at December 31, 2020?
Answer:
The numbers are missing in this question, but I will use make my own:
"In 1990, Johnson Company purchased a building for $400,000. In 2020, a real estate professional says the building has a fair value of $950,000."
The building must be reported at purchase cost (following the historical cost principle) and the only adjustment to its carrying value is accumulated depreciation. Fixed assets must always be reported at purchase cost and in this case would be $400,000.
The basic difference between macroeconomics and microeconomics is: In a command economy, the __________ either makes most economic decisions itself or at least strongly influences how the decisions are made.
Question 2 options are;
- government
- market
- firm
- business sector
Answer:
1. microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
2. government.
Explanation:
1. Indeed, the government in a command economy (like China) makes most economic decisions itself or at least strongly influences how the decisions are made.
2. We note that the word 'macro' indicates large scope, while 'micro' indicates a smaller scope. And so, the difference is that microeconomics concentrates on the behavior of individual consumers and firms, while macroeconomics focusses on the performance of the entire economy.
Bond Issue On January 1, 2019, Lightfoot Corporation issues 10%, 5-year bonds with a face value of $275,000 when the effective interest rate is 9%. Interest is to be paid semiannually on June 30 and December 31.
Required:
Prepare the journal entry to record the first interest payment on June 30, 2019.
Answer and Explanation:
Before recording the journal entry first we have to determine the following calculations
Semi Annual interest payment is
= $275,000 x 10% × 6 ÷ 12
= $13,750
The Present value of principal is
= Par value of bonds × Present value factor (r%, n)
= $275,000 × Present value factor (4.5%, 10)
= $275,000 × 0.64393
= $177,080.75
Now Present value of interest is
= Interest × Present value annuity factor (r%, n)
= $13,750 × Present value annuity factor (4.5%, 10)
= $13,750 × 7.91272
= $108,799.90
Now
The Selling price of bond is
= Present value of principal + Present value of interest
= $177,080.75 + $108,799.9
= $285,881
Interest expense to be recorded is
= Carrying value of bonds × Effective interest rate × 6 ÷12
= $285,881 × 9% × 6 ÷ 12
= $12,865
And,
The Premium on bonds payable is
= Semi annual interest payment - Interest expense
= $13,750 - $12,865
= $885
Now the journal entry is
Interest expense $12,865
Premium on bonds payable $885
To Cash $13,750
(Being the interest payment is recorded)
An investment of $ was made by a business club. The investment was split into three parts and lasted for one year. The first part of the investment earned 8% interest, the second 6%, and the third 9%. Total interest from the investments was The interest from the first investment was times the interest from the second. Find the amounts of the three parts of the investment. What is the amount of the first part of the investment? $ nothing What is the amount of the second part of the investment? $ nothing What is the amount of the third part of the investment? $ nothing Enter your answer in each of the answer boxes.
Answer:
18,000 is invested at 8%.
12,000 is invested at 6%.
20,000 is invested at 9%.
Explanation:
x = amount invested at 8%.
y = amount invested at 6%.
z = amount invested at 9%.
x + y + z = 50,000
.08x + .06y + .09z = 3960
interest on the first investment is equal to 2 times interest on the second investment.
.08x = 2 * .06y
solve for x to get x = .12y/.08 = 1.5y
since .08x = .12y, you can replace .08x with .12y.
since x = 1.5y, you can replace x with 1.5y
your two equations of x + y + z = 50,000 and .08x + .06y + .09z = 3960 become:
1.5y + y + z = 50,000
.12y + .06y + .09z = 3960
combine like terms in both equations to get: 2.5y + z = 50,000
.18y + .09z = 3960
you now have 2 equations with 2 unknown variables which can be solved simultaneously for a unique solution.
we will eliminate the z variable from the 2 equations in the following manner.
multiply both sides of the first eqution by 9 and multiply both sides of the second equation by 100.
you will get:
2.5y + z = 50,000 becomes 22.5y + 9z = 450,000.
.18y + .09z = 3960 becomes 18y + 9z = 396,000.
the 2 equations are now:
22.5y + 9z = 450,000
18y + 9z = 396,000
subtract the second equation from the first to get:
4.5y = 54,000
divide both sides of this equation by 4.5 to get:
y = 12,000
since x = 1.5y, then x must be equal to 18,000
since x + y + z = 50,000, then z must be equal to 20,000
you have:
x = 18,000
y = 12,000
z = 20,000
the interest on each of these investments is:
.08 * 18,000 = 1,440
.06 * 12,000 = 720
.09 * 20,000 = 1,800
add up the investments and you get 50,000
add up the interest and you get 3,960
the interest on the first investment is 2 times the interest on the second investment because 1,440 = 2 * 720.
all results are confirmed as good.
your solution is:
18,000 is invested at 8%.
12,000 is invested at 6%.
20,000 is invested at 9%.
The Wizard Inn has purchased 100 new water glasses. The cost per glass is $1.50; however, the resale value is considered to be only $1.15 each. The glasses are recorded at cost and will be written off over the next 3 years rather than written down immediately because of
Answer:
Continuity of the business
Explanation:
The business continuity assumption says that the loss or disaster would not significantly affect the functioning of the business operation and Business units, thus the costs must be recognized as per the business continuing basis. If the business units are severely affected and we are closing down the business unit then the event would result in presenting the event in discontinued operations in the financial statement or will be presented as break up basis, depending upon the severity of the event. Break-up basis is the method of presenting financial statements that signify that the entity's assets will be realised in near future because of liquidating the entity.
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Automobile engine b. Brake pads c. Depreciation of robotic assembly line equipment d. Glass for front and rear windshields e. Safety helmets and masks for assembly line workers f. Salary of quality control inspector g. Steering wheel h. Tires i. Wages of assembly line workers
Answer:
The given costs and classification are;
Cost [tex]{}[/tex] Classification
a. Automobile engine [tex]{}[/tex] Direct Material cost
b. Brake pads [tex]{}[/tex] Direct Material cost
c. Depreciation of robotic assembly line equipment Factory overhead cost
d. Glass for front and rear windshields [tex]{}[/tex] Direct Material cost
e. Safety helmets and masks for assembly line workers Factory overhead cost
f. Salary of quality control inspector [tex]{}[/tex] Factory overhead cost
g. Steering wheel [tex]{}[/tex] Direct Material cost
h. Tires [tex]{}[/tex] Direct Material cost
i. Wages of assembly line workers [tex]{}[/tex] Direct labor cost
Explanation:
Direct material cost is the total cost of the materials with which the product is manufactured
Direct labor costs are the total cost of the wages and salaries which the workers directly involved in the production of the goods or the rendering of the service receive
Factory overhead is the operational cost of the production facility that are not directly related to the output or produced materials. Factor overhead are all the other costs excluding the direct labor and material costs.
Aliya is the marketing manager at JumpyInk. The strategic tool JumpyInk uses forces her to make judgments about the company's performance based on market attractiveness and business strength. Which tool does Aliya use
Answer:
a. Ansoff's product-market growth matrix
b. BCG matrix
c. General Electric model
d. Porter strategies
Companies' considerations that range from cultural to political barriers to demographic considerations in the workforce and international aspects such as compensation describe
Answer:
The correct response will be "Global human resource management ".
Explanation:
Above mentioned management, also associated with global HRM, seems to be a paragliding concept that incorporates all facets including its HR, salaries, and benefits, as well as leadership development operation of the company operating on such a worldwide scale. As technological developments make life increasingly simpler for companies, growth strategy has now become a highly detailed perhaps not a requirement.You are writing a report about new regulations that affect your company. Your primary audience of company executives is very busy and will read your report quickly, but secondary- and tertiary-audience members are likely to read more slowly and carefully. Which of the following options is most appropriate for your situation?
A. Include detailed footnotes on each page.
B. To save time, omit the executive summary and put more details in the body of your report.
C. Follow the patterns of writing that were successful for you in college English and history classes.
D. Break your report into modules and put highly detailed information in an appendix.
Answer:
D. Break your report into modules and put highly detailed information in an appendix.
Explanation:
According to the question above, it is observed that when writing the report on new regulations that affect your company, the main objective is to reach the executives, who are busy and will read your report quickly, so the ideal is that the report is written with highly detailed information in an appendix and the report is divided into modules, with the aim of executives to access the most important information and the parts that most interest them more quickly.
Therefore, the report must be complete and contain all information about the subject in question, as it should also reach members of the secondary and tertiary public, they will probably read more slowly and carefully.
Although __________________ costs are important in management decision making, they are difficult to trace to a particular product. Group of answer choices Direct Material Direct Labor Overhead None of the cost above are important
Answer:
Overhead
Explanation:
Overhead costs are also known as indirect costs and they are can not be directly traced (by observation) to the cost object.
However, these overhead costs need to be accounted for when determining pricing of a product and when performing a Cost - Volume - Profit analysis.
The contribution approach to the income statement:Group of answer choicesOrganizes costs on a functional basis.Shows a contribution margin rather than a net operating income figure at the bottom of the statement.Is useful to managers in planning and decision making.Can only be used by manufacturing companies.
Answer: Is useful to managers in planning and decision making.
Explanation:
The Contribution approach to the income statement helps the company understand better the behaviour of it's variable and fixed assets because the Contribution Margin approach first subtracts variable costs from revenue and then subtracts fixed costs.
This allows the company to know which of the costs are more taxing on the company thereby enabling the company to know which to work on. It is therefore useful to managers in planning and decision making.
An associate broker terminates with a broker. The employing broker refuses to turn the license over to the Commission. Which of the following is true?
a. Automatic fine for the Employing Broker
b. The Employing Broker may be subject to disciplinary action
c. Employing broker's license is immediately suspended
d. Both associate and employing brokers may have their licenses canceled
Answer:
d. Both associate and employing brokers may have their licenses canceled
Which of the following is an example of a capital market instrument? Group of answer choices Banker's acceptances. Commercial paper. Money market mutual funds. U.S. Treasury bills. Preferred stock.
Answer:
Preferred stock
Explanation:
The capital market instruments refer to the instrument that involves stock, bonds, debentures, the preferred stock that deals in the securities and come under the capital
Also, the other options that are mentioned are the money market examples
Therefore the correct option is preferred stock and the same is to be considered
The store determined it will cost $95,800 to restore the area (considered a land improvement) surrounding one of its store parking lots, when the store is closed in 2 years. Marigold estimates the fair value of the obligation at December 31 is $82,000. Write down its journal entry.
Answer and Explanation:
The journal entry is shown below:
Parking Lot A/c Dr. $82,000
To Asset Retirement Obligation A/c $82,000
(being the parking lot is recorded)
Here we debited the parking lot as it increased the assets and credited the asset retirement obligation as it also increased the liability
The amount i.e. to be recorded should be equivalent to the fair value of the obligation and the same is to be considered
Grant started a business this year. He earned $200,000 in revenues and had $150,000 in expenses. His other alternative would have been to go back to his old job, where he earned $70,000. What are Grant's "true" profits from his business
Answer:
Profit from the business = $50000.
Explanation:
Total revenue from the business = $200000
The total cost that occurred in business = $150000
Now we have to calculate the true profit from the business. So, it can be calculated by subtracting the total cost from the total revenue.
Below is the formula to find the profit.
Profit = total revenue – total cost
Now insert the given values in the formula.
Profit from the business = $200000 - $150000
Profit from the business = $50000
The amount of Grant's "true" profits from his business is $50000. Profits are termed as the total revenues that the firm earns on selling the produced goods and services.
Given information are:
Total revenue from the business = $200000
The total cost that occurred in business = $150000
Computation of profit:
Profit = Total Revenue- Total Cost
Profit = $200000- $150000
Profit = $50000
Therefore, the amount of profit the company earned is $50000.
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Prior to the advent of the internet, which media grew faster than any other advertising medium in history?
Answer:
Social media is the fastest growing trend in the history of the world. This sector
has grown faster than the Internet itself. Within the first ten years of being publicly
available, the Internet managed to gather roughly 1 billion users.
If an economy can produce a maximum of 100 units of good X and the opportunity cost of 1X is always 5Y, then what is the maximum number of units of good Y the economy can produce
Answer:
500 Y
Explanation:
Opportunity cost can simply be defined as the cost of an alternative forgotten in order to acquire a particular good. For an example , if i have to forgo buying a sugar in order to buy bread , the opportunity cost of the bread is the cost of sugar that i did not buy.
In the scenario given , the opportunity cost of 1x is 5y. This means that for each x , 5 y have to be forgone. Now, if the maximum units that can be produced is 100 x, the equivalent maximum number of Y = 100 * 5 = 500.
Cheyenne Company started the year with $52800 in its Common Stock account and a balance in Retained Earnings of $38700. During the year, the company earned net income of $42200 and declared and paid $17600 of dividends. In addition, the company sold additional common stock amounting to $24600. As a result, the amount of its retained earnings at the end of the year would be
Answer:
$63,300
Explanation:
ending balance of retained earnings account = beginning balance + net income - dividends paid = $38,700 + $42,200 - $17,600 = $63,300
Any issuance of common stocks will increase common stock account and possibly additional paid in capital, increasing total stockholders' equity but it will not increase retained earnings.
A typical source document could be Question 8 options: A) a computer data entry screen. B) the company's financial statements. C) both some type of paper document and a computer data entry screen D) some type of paper document.
Answer:
Both A and B
Explanation:
The original record that contains details that substantiates or supports the original document which will be entered in accounting system is called source document.
They describe basis facts such as amount, purpose and date.
Cancelled checks, credit card receipts and supplies invoices, cash register tapes are examples of source documents.
"A wealthy, sophisticated investor with a high risk tolerance has just turned extremely bullish on the market. To profit from this, the BEST recommendation to the client would be to:"
Answer:
Buy leveraged ETFs
Explanation:
the options are missing:
A. But index calls
B. Buy index puts
C. But inverse ETFs
D. Buy leveraged ETFs
Leveraged ETFs (exchange-traded funds) are risky investments that can yield very high returns but of course also involve a large risk. Usually normal ETFs work on a 1:1 basis, leveraged ETFs work on a 200% to 300% basis, this means that for every dollar invested, it will borrow 1 or 2 dollars more and invest them.
An ETF follows a stock index, e.g. Nasdaq, S%&P 500, etc., and when the index increases by 1%, it will also increase by 1%. If the ETF is leveraged, the possibilities of gains or losses multiplies by 2 or 3.
One of the most effective deterrents to abuses of privacy by social media companies is ________. Select one: a. Government regulations and fines b. Industry and professional standards c. Competitors’ ethical practices d. Fear of the public’s backlash and outrage
Answer
d. Fear of the public’s backlash and outrage
Explanation:
Abuse of privacy by this social media range from impersonation of someone else identity, hacking of people account which can leads to the theft of important informations by the owner. Abuse of privacy by social media companies is very rampant this days and it's very wrong because it causes more harm than good.
It should be noted that one of the way to curb this is for the social media companies to be served deterrents, which will discourage them from this act, such as Fear of the public’s backlash and outrage.
Two brothers, Mark and Rick, each inherit $6000. Mark invests his inheritance in a savings account with an annual return of 2.5%, while Rick invests his inheritance in a CD paying 5.8% annually. How much more money than Mark does Rick have after 1 year?
Answer:
$198
Explanation:
Two brothers Mark and Rick each inherit $6,000
Mark invests his money in a savings account with an annual return of 2.5%
After one year the interest payment that will be received by Mark can be calculated as follows
= $6,000 × 2.5/100
= $6,000 × 0.025
= $150
Rick invests his portion of the money in a CD paying 5.8% annually
The amount of interest that will be received by Rick after one year can be calculated as follows
= $6,000 × 5.8/100
= $6,000 × 0.058
= $348
Therefore the amount of money that Rick has over Mark after a period of one year can be calculated as follows
= $348-$150
= $198
Hence Rick has $198 more than Mark after one year
Which is the best measure of risk for a single asset held in isolation, and which is the best measure for an asset held in a diversified portfolio?
Answer:
coefficient of variation; Beta
Explanation:
The best measure of risk for a single asset held in isolation would be coefficient of variation which tells you the level of variation that the asset has which allows you to calculate the level of risk. The best measure for an asset held in a diversified portfolio on the other hand would be Beta. This measures the volatility of an asset/portfolio while comparing it to the market as a whole, also allowing you to calculate expected ROI.
At Tyson Foods, Lily serves as the point person who guides everyone in the firm towards ethical actions. Lily most likely serves as the firm's
Answer:
ethics officer
Explanation:
We were told from the question that Tyson Foods, Lily serves as the point person who guides everyone in the firm towards ethical actions.
Since Lily has been guiding everyone as far as the ethics of the organization is involved then Lily most likely serves as the firm's Ethic Officier.
It should be noted Ethic officer helps in management of ethics issues that an is experiencing.
As a result of his last performance appraisal, Deron finally got the promotion he has been seeking for 3 years. His supervisor agreed with Deron that his performance had improved and that Deron was ready to take on more responsibility. This is an example of the ______ reason for conducting performance appraisals.
Answer:
decision-making.
Explanation:
As a result of his last performance appraisal, Deron finally got the promotion he has been seeking for 3 years. His supervisor agreed with Deron that his performance had improved and that Deron was ready to take on more responsibility. This is an example of the decision-making reason for conducting performance appraisals.
Decision-making involves deciding what actions to take about a problem or situation. Supervisors or managers are saddled with the responsibility of taking decisions on their own without having to consult external sources. The growth and development of a company depends on the decision-making ability of a manager or supervisor.
In this context, Deron's supervisor agreed that his performance has improved and he could take on more challenges, thus he was promoted.
Wallace is a salesperson in the Nebraska Territory for a firm selling kitchen appliances to mobile home manufacturers. At a school reunion, an old friend approaches him and says, "What a coincidence! I'm the director of purchasing for Bilt-Tite Mobile Homes in Franklin, Georgia. Why don't you contact me next week
Answer:
Wallace cannot do business with his friend because his business is not located within Wallace's authorized territory
Explanation:
Unfortunately in this scenario, Wallace cannot do business with his friend because his business is not located within Wallace's authorized territory. As a salesperson, Wallace is only authorized to conduct business for the store he is representing in the Nebraska territory, while his old friend operates his business in Franklin, Georgia. The only thing that Wallace may be able to do would be to pass his friend the number of the brands Georgia offices if they have one.
Which scenario describes the highest level of productivity? A. Producing $50 chairs using resources that cost $400 B. Producing a 100 chairs using resources that cost $200 C. Producing 15 chairs using resources that cost $150 D. Producing 5 chairs using resources that cost $100
The highest level of productivity should be option B.
Calculation of highest productivity:For A. The cost should be $400 for 50 chairs so per chair should be = $400 ÷ 50 = 8.
For B. The cost should be $200 for 100 chairs so per chair should be = $200 ÷ 100 = 2
For C. The cost should be $150 for 15 chairs so per chair should be = $150 ÷ 15 = 10
For D. The cost should be $100 for 5 chairs so per chair should be = $100 ÷ 5 = 20.
Based on this, option b should be considered.
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Taxes on the property buyer Tamara is purchasing are $8,200, due on December 31. If the closing is set for June 29th, using the 365-day method, how much of the taxes will be credited to the buyer? (Assume it is not a leap year and the day of closing belongs to the seller.)
Answer:
$4,044
Explanation:
Calculation for how much of the taxes will be credited to the buyer
First step is to divide the annual taxes by the numbers of days in a year
$8,200 / 365 days
= $22.466 per day
Second step
Based on the information given we were told that the Seller's ownership started from January 1- June 29 which gave us 180 days, this means that we would multiply $22.466 per day by 180 days in order to know how much of the taxes will be credited to the buyer
Hence,
Amount credit to the buyer=180 days
x 22.466
Amount credited to buyer= $4,044
Therefore the amount of the taxes that will be credited to the buyer will be $4,044