Answer:
$106,000
Explanation:
The formula for Asset is stated below.
Assets = Liabilities + Equity
Beginning $100,000 = $60,000 + $40,000
Change $6,000 = $6,000 +
$0
Ending $106,000 = $66,000 + $40,000
Therefore, the total of Lumia's assets after the solar panel purchase is $106,000
The total assets available in the statements of the Lumia Company after the purchase of solar panel will be $106,000. as the remaining $6000 were added in the bills payable side of the liabilities in the balance sheet.
The calculation of the balance sheet is based on simple equation that the assets of the company are a summation of liabilities along with the equities of the company as on that date.
The formula for calculation of Assets is known to us as,[tex]\rm Assets= Liabilities\ + Equities[/tex]
It is given to us that the liabilities of the Lumia Co. are $60000 and the equities of the company stand at $40000 so by putting the values in the formula above we get,[tex]\rm Assets\ Before\ Purchase\ of\ Solar\ Panel = 40000+60000[/tex]
So, the assets before the purchase of solar panel were $100,000. We know that the solar panel was purchased for $10000 for which $4000 was paid in cash and the remaining stood as bills payable.
The equation to solve this would be that in the assets side solar panel heads will show a positive balance of $10000 and a negative $4000 in cash in hand. Total assets will amount to $106,000. Whereas on the liabilities side bills payable will have a positive balance of $6000 which would make the total liabilities of the company as $66,000. Now, putting the values in the formula again we get,[tex]106000=66000+40000[/tex]
Assets match the summation of liabilities and the equities of the company and the balance sheet has tallied.Hence, the total assets of Lumia Co. after the purchase of Solar panel will be $106,000.
To know more about the assets and liabilities, click the link below.
https://brainly.com/question/3111021
A good cover letter should only address your ability to perform __________ skills that the employer is seeking.
Answer: b. three or four
Explanation:
Cover letters are meant to introduce the applicant for the role in a manner that would inspire the recruiter to want to take their applicant further in the recruitment process.
As such, the applicant should include some selling points to encourage this. One of said selling points is the possession of the skills that the role in question requires. A good number to possess/include in the letter is three to four of said skills because anything less might be too little and anything more might inspire distrust.
Ragland Corp. purchases supplies on account for $1,000 and appropriately records the transaction in an asset account. A count of inventory at year-end indicates that $300 of supplies are remaining. The adjusting journal entry required at year-end includes:_____.
Answer and Explanation:
The adjusting entry is shown below:
Supplies Expense A/c $700
To Supplies A/c $700
(Being the supplies expense is recorded)
The supplies expense is computed below
= Supplies purchased made - supplies on hand
= $1,000 - $300
= $700
For recording this we debited the supplies expense as it increased the expenses and credited the supplies as it decreased the assets
How many quarters are required to complete the Marketplace Live marketing simulation?
Answer:
6
Explanation:
Marketplace simulations are designed for university business courses and for executive programs. It is developed by Innovative Learning Solutions Inc. The simulation enables students to experiment business strategies, test run their business ideas and get the consequences of their actions. This is gotten in a virtual business environment.
You have $5,000 to invest for the next year and are considering three alternatives:________.
a. A money market fund with an average maturity of 30 days offering a current yield of 6% per year.
b. A 1-year savings deposit at a bank offering an interest rate of 7.5%.
c. A 20-year U.S. Treasury bond offering a yield to maturity of 9% per year.
What role does your forecast of future interest rates play in your decisions?
The petitie sportswear buyer places the following order: 36 pants costing $10.75 each48 pants costing $15.50 each24 pants costing $17.50 eachShipping charges were 6%of the billed costs. To find the dollar amount of shipping charges, find the total amount of billed costs. Multiply the number of pants to the cost of each pants and find the sum toal:36 pants $10.75 = $38748 pants $10.75 = $74424 pants $10.75 = $420Then find the sum of each cost to find the gross sales. So the sum of 387, 744 and 420 is 1,551. So the total amount of billed costs is $1,551,000.
Answer:
The dollar amount of the shipping charges is:
$93.06
Explanation:
a) Data and Calculations:
36 pants at $10.75 = $387
48 pants at $15.50 = $744
24 pants at $17.50 = $420
108 pants = $1,551
Shipping charges 93.06 (6% of $1,551)
Total billed costs = $1,644.06
The shipping charges of 6% are applied on the total product costs of $1,551 to obtain $93.06. The cost of each purchase of a line of pants is computed by multiplying the line's quantity with its per unit cost. Then the different costs are added together before applying the 6% shipping charges.
For the past six years, the stock price of Slippery Rock Mining has been increasing at a rate of 6.6 percent per year. Currently, the stock is selling for $73 per share and has a required return of 9.1 percent. What is the dividend yield?
Answer:
2.50%
Explanation:
The dividend yield can be computed by dividing annual dividend by share price. As the dividend is not given in the question, we will find the dividend first by the required return formula and then divide it by share price in order to calculate the yield.
DATA
Annual dividend =?
Growth rate = 6.6%
Share price = $73
Required return = 0.1%
Solution
Required return = (D1/price) + growth rate
0.091 = (D1 / 73) + 0.066
0.025 = D1 / 73
D1 = 1.825
Dividend yield = (D1 / price) * 100
Dividend yield = (1.825 / 73) * 100
Dividend yield = 2.50%
Kouba Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.52 direct labor-hours. The direct labor rate is $9.00 per direct labor-hour. The production budget calls for producing 1,700 units in April and 1,600 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 960 hours in total each month even if there is not enough work to keep them busy.Required Construct the direct labor budget for the next two months. (Round your answers to 2 decimal places.) April May Required production in units Direct labor-hours per unit Total direct labor-hours needed Total direct labor-hours paid Total direct labor cost
Answer:
Kouba Corporation
Direct labor budget for April and May:
April May
Production in units 1,700 1,600
Direct labor-hours per unit 0.52 0.52
Total direct labor-hours needed 884 832
Total direct labor-hours paid 960 960
Direct labor rate $9.00 $9.00
Total direct labor cost $8,640 $8,640
Explanation:
a) Data and Calculations:
April May
Production in units 1,700 1,600
Direct labor-hours per unit 0.52 0.52
Total direct labor-hours needed 884 832
Total direct labor-hours paid 960 960
Direct labor rate $9.00 $9.00
Total direct labor cost $8,640 $8,640
Idle hours paid for 76 128
Cost for idle hours $684 $1,152
b) The Kouba Corporation pays its workers for a total of 204 idle hours with a total cost of $1,836 for the two months period. This amount is substantial, about 10% of the total amount paid for the two months.
1. Describe the changes occurring today in the management function. 2. Describe the four functions of management. 3. Relate the planning process and decision making to the accomplishment of company goals 4. Describe the organizing function of management. 5. Explain the differences between leaders and managers, and describe the various leadership styles. 6. Summarize the five steps of the control function of management.
Explanation:
Management function refers to specific activities carried out in other achieve organizational goals.
The Management functions are:
PlanningOrganizingLeadingControllingAn organization uses the Planning function to have a vision of their future. For example, how many countries they would like to operate in in the next five years.
The Organizing Function of management allows management to decides its structure, such as its method of operations. Would they use remote part-time staff or full-time staff?
The following expenditures are related to land, land improvements, and buildings, which were acquired on November 1, 2013.Cost of real estate acquired for a new manufacturing plant $365000The land is appraised for 262,800 and the building for 102,200Real estate taxes paid by the purchaser 20,000Cost of removing barn 8,500Architect fees for updating building 6750 Attorneys fees for closing sale 12500Grading land 3500Paving parking lot 7000Planting trees and shrubs 9250Cost of repairs to building due to storm 1300Lights placed on driveway 4750Fee to real estate broker 2500Required:a. Determine the cost of the land, the building and the improvements (Round to the nearest dollar)b. Prepare journal entries on December 31, 2013 for depreciation assuming the building will have a useful life of 20 years and no residual value. Use double declining balance method and the half-year convention. c. Depreciate the land improvements using straight-line method, a 5 year life, to the nearest month with zero residual value (to the nearest dollar).
Andy and Delilah both work and have one qualifying child.They had AGI of $21,000.What is their EIC?
A) $3,356.
B) $3,373.
C) $5,572.
D) $0.
Answer:
$3,584
Explanation:
For the year 2020 if the married filed jointly so the amount should not exceed than $21,710 and eligible for the one child
So the maximum credit amount earned for the one children is $3,584
Also, the income for investment should be $3,650 or less for the particular year
So in the given options, this above amount is not given so the same is to be considered for the year 2020
And we assume that the question ask for the year 2020 only
If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertise, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non advertising firm will earn $5 million. Which of the following is true? A) A dominant strategy for Firm A is to advertise. B) A dominant strategy for Firm B is to advertise. C) A Nash equilibrium is for both firms to advertise. D) I think -None of the above is true
Answer:
D
Explanation:
Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.
Dominant strategy is the best option for a player regardless of what the other player is playing.
Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.
The payoffs for advertising for both firms is either $4 million or $1 million
The payoffs of not advertising for both firms is either $10 million or $5 million
The payoffs of not advertising is higher for both firms. The dominant strategy for both firms is not to advertise. The Nash Equilibrium is not to advertise
Which budget allows a business owner to calculate the amount to charge the customer in order to make a profit
Answer:
Budgeted Income Statement in the Master Budget
Explanation:
The Master Budget provides a summary of all the operations of the business. It is made up of Budgeted Manufacturing Account, Budgeted Income Statement and Budgeted Financial Position.
Where the selling price it to be determined, the price giving the desired profits can be calculated by adjusting the sales to the desired profits in the Budgeted Income Statement.
Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2021, for $3.7 million. The patent will be used for five years, even though its legal life is 20 years. Rocky Corporation has made a commitment to purchase the patent from Granite for $170,000 at the end of five years. Compute Granite's patent amortization for 2021, assuming the straight-line method is used.
Answer:
$706,000
Explanation:
Amortisation is a method used in expensing the cost of a natural resource
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
Useful life = 5
cost of the asset = $3.7 million.
Salvage value = $170,000
($3.7 million - $170,000 ) / 5 = $706,000
You have been asked to advise the Akawini management team how they should promote and monitor the transformation of risk management in their business. What performance measures would you recommend they use so that they can monitor progress and performance?
Answer with Explanation:
To transform the risk management and promote the transformation process, Akawini must:
Implement Corporate Governance policies and enforce compliance with these guidelines.Consistent Internal Control Reviews by conducting internal audits.Compliance with the Sarbanes Oxley Act and Foreign Corrupt Practice Act will enable the risk management team to consider a wider aspect of its operation which includes domestic and foreign export policies enforcement.Continuous Professional Development and advanced training will help them to act very efficiently and effectively minimize the level of risk the company is facing.The progress is the process of movement towards achievement of goals and performance is the better movement towards achievement of goals.
To measurements that can be used to monitor progress and performance would be use of Key Performance Indicators and comparing the results with the actual results of company. This would help in understanding the under-performing areas and hurdles to progress. Some KPIs that the risk management team can consider are Value at risk reduced, risk threshold set, Risk to Rewards Ratio, etc.
Cost and Benefits of risk mitigation analysis will also be beneficial here because it helps the risk management team to consider the financial aspect of the decision making and thus helps in adding value to the business operation.
How is a Lorenz curve used to represent a nation's income distribution? A. The more bowed the curve the more unequal the distribution of income over one's lifetime B. The more bowed the curve the more equal the distribution of income. C. The closer the Lorenz curve is to a straight line, the more unequal the distribution of income. D. The closer the Lorenz curve is to a straight line, the more equal the distribution of income.
Answer:
D. The closer the Lorenz curve is to a straight line, the more equal the distribution of income.
Explanation:
Lorenz curve, a curve often used in socioeconomics, is a curve that depicts the level or state of the wealth or income distribution in a given society, country, or economy.
The curve in its attempt to depicts the nation's income distribution indicates that the closer a straight line, the more equal the distribution of income and vice versa.
Hence, the correct answer is Option D
A loss on sale of equipment is added to net income in determining cash provided by operations under the indirect method.
A. True
B. False
Answer: A. True
Explanation: In creating a statement of cashflow, the direct or Indirect method may be employed. The Indirect method simply starts from the net income or loss by making necessary adjustment to the net income before arivubg at cash made from operating activities. Hence, Indirect methods starts calculation from the net income. This is the opposite in direct method whereby cash inflows and outflows from operating activities are used to arrive at the net income or cashflow.
Briefly explain whether each of the following is primarily a microeconomic issue or a macroeconomic issue.
a. The effect of higher cigarette taxes on the quantity of cigarettes sold
b. The effect of higher income taxes on the total amount of consumer spending
c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries
d. The reasons for low rates of profit in the airline industry
Answer: Micro; Macro; Macro; Micro.
Explanation:
Economics is divided into two main segments which are microeconomics and macroeconomics. It should be noted that microeconomics deals with study of individuals and the firms while macroeconomics studies the while economy and looks at decisions that are made by governments and countries.
a. The effect of higher cigarette taxes on the quantity of cigarettes sold.
This is a microeconomic issue as one entity is being discussed which is cigarette and the issue is related to just one particular industry.
b. The effect of higher income taxes on the total amount of consumer spending.
This is a macroeconomic issue as taxes affects the whole economy. The whole nation is affected by this decision.
c. The reasons for the economies of East Asian countries growing faster than the economies of sub-Saharan African countries.
This is a macroeconomic issue as it relates to different countries.
d. The reasons for low rates of profit in the airline industry.
This is a microeconomic issue as the issue affects just the airline industry.
High-End Fashions, Inc., bought a production line of ankle-length skirts last year at a cost of $500,000. This year, however, miniskirts are hot in the market and ankle-length skirts are completely out of fashion. High-End has the option to rebuild the production line and use it to produce miniskirts with a cost of $300,000 and expected revenue of $700,000. How should the company treat the cost of $500,000 of the old production line in evaluating the rebuilding plan
Answer:
the $500,000 that the old production line costed must be treated as a sunk cost. Sunk costs are costs that have already been incurred and the firm cannot recover them no matter what they do. in this case, since ankle-length skirts are out of fashion, the production is useless and is worth $0.
Explanation:
You are CEO of Eastco, and you recently paid $58,000 or about 2x revenue (well under industry average) to purchase Westco, which makes a product nearly identical to yours. This move will allow you to operate in both regions (East and West) of the country. If you combine the markets, the total Fixed Cost would be $11,000 per month, and your larger purchase size will allow you to advantageous terms for your raw materials, meaning VC will be $4 per unit. Demand and MR in the combined market is as follows:
Qd = 600 - 6P
MR = 100 - 0.333Q
A) Compute your profit in the combined market. Additional analysis shows that demand and fixed costs are different in the 2 regions. The West has the following demand and Mg:
Qd = 300 - 4P
MR = 75 - 0.5Q
Fixed costs associated with operating in the West are $5000/month. While the East is a less price sensitive market:
Qd = 300 - 2P
MR = 150 - Q
Fixed costs associated with operating in the East are $6000/month. The area manager from the East suggests you use a strategy that charges each market a separate price. If you operate in separate markets, the VC associated with each unit is $5.
B) Calculate your profits using this strategy. What is this strategy called?
C) What strategy do you suggest in the Long Run?
Answer:
Profit in the combined market OR Combined profit is
π = -0.1665Q² + 96Q - 11,000 dollars
Explanation:
NOTE: The second or B part of the question is incomplete hence only answers to A part are provided
(A) The data given are:
TFC = $11,000 /month
TVC = $4 /unit = $4Q
QD = 600 - 6P
MR = 100 - 0.333Q
The data derived from this are:
TC = TFC + TVC = 11,000 + 4Q
PROFIT = TR - TC
TR = ∫MR = ∫(100 - 0.333Q) = 100Q - 0.1665Q²
PROFIT = 100Q - 0.1665Q² - 11,000 - 4Q
PROFIT = -0.1665Q² + 96Q - 11,000 dollars
If the money used to purchase WestCo is factored in, then you'll subtract it from this profit. That will be;
PROFIT = -0.1665Q² + 96Q - 69,000 dollars
What would happen if the government subsidized consumption of this product because it has positive externalities in consumption
Answer:
If a product has postive externalities, it means that it benefits society in some way that is not reflected in the product's price, supply and demand.
Explanation:
This causes economic distortion in which the possible benefit of the product are less than ideal.
For this reason, governments can subsidize goods and services that have postiive externalities, with the effect of bringing about the full benefit of the good or service to society.
A typical example is education, which is not a product, but a service. Education has a lot of positive externalities: it makes societies more educated and productive, even more peaceful. This is why the government heavily subsidizes education, both in primary, secondary, and tertiary levels.
A change in depreciation method is accounted for:Select one:a. Retrospectively.b. Prospectively, like changes in accounting estimates.c. As a cumulative adjustment to income in the year of change.d. None of the above.
Answer: :a. Retrospectively
Explanation:
A change in depreciation method is a change in accounting policy and as such it would need to be accounted for retrospectively.
This means that it must be accounted for by going back to all periods where the change affects an entry and adjusting that entry for the change so that the accounting can be more accurate.
Use the information presented in Midwestern Mutual Bank's balance sheet: Bank's Balance Sheet Assets Liabilities and Owners' Equity Reserves $175 Deposits $1,400 Loans $700 Debt $225 Securities $875 Capital (owners' equity) $125 Suppose the owners of the bank borrow $100 to supplement their existing reserves. This would increase the reserves account and____the_____account. This would also bring the leverage ratio from its initial value of to a new value of_____. Which of the following is true of the capital requirement?A. It specifies a minimum leverage ratio for all banks. B. Its intended goal is to protect the interests of those who hold equity in the bank. C. Its intended goal is to protect the interests of the depositors.
Answer:
1. This would increase the reserves account and increase the debt account.
The bank borrowed $100 to supplement their reserves which increased the reserves account. It will also increase the debt account to reflect the liability.
2. This would also bring the leverage ratio from its initial value of 14 to a new value of 14.8.
Leverage is calculated as;
Original leverage = Total assets/ Capital
= ( 175 + 875 + 700)/125
= 14
New Leverage = ( 175 + 875 + 700+ 100 increase in reserves)/125
= 14.8
3. C. Its intended goal is to protect the interests of the depositors.
Capital is held by banks as a safeguard against people defaulting on loans because loans are derived from the money deposited by depositors and will need to be paid back to them. If a loan is defaulted on therefore, the bank pays the depositor from the capital it holds.
When tuition at State College was $8,000 per semester, many classes filled to capacity before everyone could register, and some students were unable to enroll in the classes that they needed to graduate. When tuition increased to $11,000 per semester, the number of students who wanted to enroll in each class equaled the number of
Answer:
ah can u simplify it.. becuase at this stage you put the whole question down, its also not finished
Which of the following statements about steering needed resources to execution-critical value chain activities is false? a. Good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy. b. Both strategy changes and efforts to improve execution of an existing strategy typically entail budget reallocation and resource shifting. c. A company's operating budget must be both strategy-driven (in order to amply fund competent performance of strategy-critical value chain activities) and lean (in order to operate as cost-efficiently as possible). d. Strategy changes and new execution initiatives should normally be made without adding to total expenses. e. Underfunding organizational units and execution-critical value chain activities slows down the whole process of implementing and executing strategy and impedes the efforts of organizational units to execute their pieces of the strategic plan proficiently.
Answer: a. a. Good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy
Explanation:
Executing strategy is an action-oriented task which tests the ability of a manager to direct changes in an organization and also achieve certain improvements regarding operations.
The statement about steering needed resources to execution-critical value chain activities which is false is that good execution of a new or revised strategy often requires devoting more resources to some value chain activities and perhaps downsizing the operating budgets and resources devoted to activities/organizational units with a lesser role in the new strategy.
Project management is ideally suited for a business environment requiring all of the following EXCEPT:________.
A) Accountability
B) Flexibility
C) Innovation
D) Speed
E) Repeatability
Answer:
D) SPEED
Explanation:
What is the amount of equity on December 31, 2011?
Company
A Company
December 31, 2010
Assets $ 35,000
Liabilities 28,700
December 31, 2011
Assets 38,000
Liabilities ?
During year 2011
Owner investments 6,000
Net income (loss) 8,300
Owner cash
withdrawals 3,500
Answer:
$17,100
Explanation:
For computing the ending equity first we have to determine the beginning equity which is shown below:
As we know that
Accounting equation comprise of
Total assets = Total liabilities + stockholder equity
$35,000 = $28,700 + stockholder equity
So, the stockholder equity is
= $35,000 - $28,700
= $6,300
Now the ending equity is
= beginning equity + owner investments + net income - withdrawls
= $6,300 + $6,000 + $8,300 - $3,500
= $17,100
A military organization is very structured. Ranks are very clear, defining who can give and who must take orders. This is an example of
Answer:
vertical management
Explanation:
The flow of information that takes flows from the top management to the subordinates is said to be vertical management. The information is passed from the managers to the employees at the lower levels. Primarily the feedback are communicated in this form of management. The control of the higher authority is high and strong.
The given excerpt is an example of vertical management that flows in the military organization.
________ refers to a subset of expatriates who are citizens of a foreign country working in the home country of their multinational employer.
Answer:
Inpatriates
Explanation:
Inpatriates is an employee most known as specialist or a professionals of a multinational company who is from a foreign country, but is moved or posted from a foreign subsidiary to the corporation’s headquarters which is located in the home country of the multinational employer.
Journalize Surf and Sun's entry to record bad debts expense for 2018 using the aging-of-receivables method. 2. Prepare a T-account to compute the ending balance of Allowance for Bad Debts.
Answer:
1. Dr Bad Debts Expense $187
Cr Allowance for Bad Debts $187
2. T- account
Credit side Allowance for Bad Debts $2,063
Credit side Balance $187
Credit side $2,250
Explanation:
1. Preparation of Surf and Sun's Journal entry to record bad debts expense for 2018
First step is to find the Estimated total uncollectible
Estimated total uncollectible
Age of Accounts Receivable
0 – 60 Days Over 60 Days Total Receivables
Accounts Receivable. $78,000 $3,000 $81,000
Percent uncollectible× 2%× 23%
Estimated total uncollectible $1,560 $690 $2,250
Second step is to prepare Surf and Sun Journal entry
Journal entry
Dec. 31 2018
Dr Bad Debts Expense $187
Cr Allowance for Bad Debts $187
($2,250 – $2,063)
2. Preparation of a T-account to compute the ending balance of Allowance for Bad Debts.
T- account
Credit side Allowance for Bad Debts $2,063 Unadjustment
Credit side Balance $187 Adjustment
Credit side $2,250 Balance
Corporation has the following data as of December 31, : Total Current Liabilities $36,210 Total Stockholders' Equity $ ? Total Current Assets 58,200 Other Assets 36,800 Long-term Liabilities 139,630 Property, Plant, and Equipment, Net 206,440 Compute the debt to equity ratio at December 31, . (Round your answer to two decimal places, X.XX.)
Answer:Debt Equity ratio= 1.40
Explanation:
Assets
Current Assets $ 58,200
Other Assets $36,800
Property Plant & Equipment (net) =$ 206,440
Total Assets =$301,440
Liabilities
Current Liabilities =$ 36,210
Long Term Liabilities =$139,630
Total Liabilities=$175,840
Total Stockholder's Equity= Total assets - total liabilities
=$301,440-$175,840
=$125,600
Debt Equity ratio = Total liabilities/ Total Stockholder’s Equity
= $175,840/$125,600
= 1.40