There is no adjustment required in the interest payable account. The depreciation expense for the year ended September 30, 2021, was $4,750. Therefore, Pharoah needs to make the corresponding adjustment and recognize this expense in the adjusting entries.
This financial statement adjustment question involves recognizing and adjusting various accounts that were not properly accounted for as of September 30, 2021. The adjustments involve adjusting entries in the interest payable and receivable accounts, adjusting salaries expense and payable accounts, and adjusting depreciation expense.
First, the interest receivable account has a balance of zero. However, Pharoah has a note receivable, and interest is payable on October 1, 2021. Therefore, Pharoah must recognize and adjust the amount of $50 in interest revenue for the period of April 1, 2021, to September 30, 2021.
Next, Pharoah recorded a salaries expense of $155,000, but there are accrued salaries as of September 30, 2021, which amount to $2,400. Therefore, Pharoah must adjust the salaries expense by $2,400 in the period-ending adjusting entries. After recognizing this adjustment, Pharoah can pay the remaining salaries, amounting to $750, on October 2, 2021.
Pharoah has properly paid the interest on the note payable as per the payment schedule. Therefore, there is no adjustment required in the interest payable account.
Finally, the depreciation expense for the year ended September 30, 2021, was $4,750. Therefore, Pharoah needs to make the corresponding adjustment and recognize this expense in the adjusting entries.
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please answer all 5 parts to the question
June production generated the following activity in Pinto Chassis Company's Work in Process Inventory account (Click the icon to view the activity) Additionally, Pinto has completed Jobs 142 and 143,
Sure, let's consider a numerical example to illustrate the problem.
Let's say that Pinto Chassis Company's Work in Process Inventory account for the month of June had the following activity:
1. Beginning Work in Process Inventory: $5,000
2. Direct Materials Used: $10,000
3. Direct Labor Cost: $7,000
4. Factory Overhead Applied: $8,000
5. Ending Work in Process Inventory: $6,000
In addition, Pinto completed Jobs 142 and 143 during the month.
Now, let's solve the different parts of the question using these values:
Part 1: Calculate the Total Manufacturing Costs for June
Total Manufacturing Costs = Direct Materials Used + Direct Labor Cost + Factory Overhead Applied
Total Manufacturing Costs = $10,000 + $7,000 + $8,000
Total Manufacturing Costs = $25,000
Part 2: Calculate the Cost of Goods Manufactured (COGM) for June
COGM = Beginning Work in Process Inventory + Total Manufacturing Costs - Ending Work in Process Inventory
COGM = $5,000 + $25,000 - $6,000
COGM = $24,000
Part 3: Calculate the Cost of Goods Sold (COGS) for June (assuming no beginning or ending Finished Goods Inventory)
COGS = COGM
COGS = $24,000
Part 4: Calculate the Cost per Unit for Jobs 142 and 143
Cost per Unit = COGM / Total Units Produced
Since the number of units produced for Jobs 142 and 143 is not given in the question, we cannot calculate the cost per unit without that information.
Part 5: Calculate the Gross Profit for June
Gross Profit = Sales Revenue - COGS
Since the sales revenue is not given in the question, we cannot calculate the gross profit without that information.
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1. Measuring national economic performance helps governments decide on tax policies and spending priorities 2. Population size is a limitation of the GDP as a measure of economic welfare There is a lo
1. True: Measuring a country's economic performance, such as GDP growth and other economic indicators, helps governments assess the health of the economy. It helps government to make tax policy decisions and prioritize their spending.
2. True: Population size can be a constraint on GDP as a measure of economic prosperity. GDP measures the total amount of goods and services produced within a country's borders, but does not take into account population size or wealth distribution across the country. It may not accurately reflect income and living standards.
3. False: "Under the table" transactions typically relate to informal or illegal activities that are not reported or recorded for tax or regulatory purposes. These transactions are often cash payments and can be difficult to track and document, resulting in no paper trail.
4. True: Infrastructure refers to physical structures, facilities and systems that support and enable economic activity. It includes transportation networks, utilities, communication systems and public services. It is essential for economic development, trade and the general functioning of society.
5. False: Statistics Canada is a national statistical agency responsible for collecting and disseminating data and statistics on various aspects of economy. However, measuring Canadian inflation is the responsibility of the Bank of Canada, which determines monetary policy and monitors and reports inflation rates.
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The complete question is:
True or False？ 1. Measuring national economic performance helps governments decide on tax policies and spending priorities 2. Population size is a limitation of the GDP as a measure of economic welfare 3. There is a long paper trail for “under-the-table” transactions 4. Infrastructure is an important component of how a society operates 5. ‘Statistics Canada’ is the organization responsible for measuring inflation in Canada.
7. (Dietswell case) The valuation (value) of the company suffers mostly from... a. Not enough contracts signed with the "oil majors" b. The illiquidity discount applying to the portion of the shares not owned by the public c. The poor prospects of the service business (FactORig) d. All of the above e. None of the above 8. (SeLoger case) The valuation of the company suffers mostly from... a. The CEO's entrenchment b. The illiquidity of the shares c. The disappointing market share of the company d. All of the above e. None of the above 9. The beta of unlevered equity... a. Is equivalent to the WACC beta when the debt is risk-free b. Can be lower than the beta of the debt of the same firm c. Can be higher than the beta of levered equity of the same firm d. All of the above e. None of the above
(Dietswell case) The valuation (value) of the company suffers mostly from the poor prospects of the service business (FactORig)8. (SeLoger case) The valuation of the company suffers mostly from the illiquidity of the shares9. The beta of unlevered equity can be higher than the beta of levered equity of the same firm.
The valuation of Dietswell suffers mostly from the poor prospects of the service business (FactORig) as this segment of the company’s business generates the majority of the firm’s revenues. With a lack of prospects in the service business, this would significantly impact the revenues of the company, which would negatively affect its value.
8. SeLoger’s valuation suffers mostly from the illiquidity of its shares. This is because a high level of illiquidity for shares is an unfavorable attribute that will impact its value as it restricts the number of investors who can trade in its shares.9. The beta of unlevered equity can be higher than the beta of levered equity of the same firm. This can occur when the debt of the firm is risk-free, or there is no debt in the capital structure of the firm. A higher beta for unlevered equity indicates that the firm is more sensitive to market risk.
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Which of the following examples corresponds to a command economy? a.) The taxpayers and businesses decide what should be produced in their cities. b.) Citizens are to provide their own protection, leading to an increase in small-town militia. c.) Government-produced movies pit political party heroes against one another. d.) For-profit schools are run by several competing companies.
Government-produced movies pit political party heroes against one another is example of command economy. Option C is correct.
A nation's central government must own and control the means of production in the command economy, also known as a planned economy. Private ownership of capital and land is either severely restricted or nonexistent.
A command economy, which is also known as a planned economy, is one in which the central government plans, organizes, and controls every aspect of the economy to ensure that as many people as possible benefit from it. Order economies, instead of unrestricted economy economies, don't permit market influences like market interest to decide creation or costs.
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Many economists believe that the aggregate consumption is determined by current income and its past values, such as in the following distributed lag model (DLM): Ct = a + Boxt + B₁Xt−1 + B₂Xt−2+ B3Xt-3 + Ut (1) This consumption equation can be converted to an autoregressive equation of the form: Ct = So + Boxt + λСt-₁ + ut (2) Using the estimated version of (2) C = 25.22 +0.55X +0.45Ct-1 and Koyck distributed lag definitions of the individual coefficients, convert the coefficient estimates into the format in (1).
Given that we have to convert the coefficient estimates of the estimated version of (2)
C = 25.22 +0.55X +0.45Ct-1
and Koy c k distributed lag definitions of the individual coefficients into the format in (1).The Koyc k distributed lag function is given as,
Ct = a + Box t + B₁Xt−1 + B₂Xt−2+ B3Xt-3 + Ut .
The general form of Koyck distributed lag model can be written as follows:
$$C_ t = a + \sum_{i=0}^{n}B_ iX _{t-i}+U_ t$$
Where C_ t is consumption, X_t is disposable income at time t and U_t is the error term. In this context, Koyck distributed lag model can be written as,
$$C_t = a + B_0X_t + B_1X_{t-1} + B_2X_{t-2} + B_3X_{t-3} + U_t$$
Comparing this to (2), we can say that $So=a$ and $\lambda =0.45$.
Thus, the equation in the required format (1) can be written as,
$$C_t = So + B_0X_t + B_1X_{t-1} + B_2X_{t-2} + B_3X_{t-3} + U_t
$$$$C_t = 25.22 + 0.55X_t +0.45C_{t-1}$$
Therefore, the conversion of the coefficient estimates of (2) into the format of (1) is as follows,
$$So=25.22$$$$
B_0=0.55$$$$
B_1=0.45$$$$
B_2=0$$$$
B_3=0$$
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An increase in real GDP implies that:
a.) either the price level, real output, or both increased.
B.) the price level increased.
C. )both the price level and real output increased.
D.) output increase
An increase in real GDP implies that both the price level and real output increased. The correct option is C.
Real Gross Domestic Product (GDP) refers to the total value of goods and services produced by an economy in a given period, adjusted for inflation. Real GDP is a measure of the economy's total output, but it is adjusted for inflation, which allows for a more accurate comparison over time. It is used to track economic growth or contraction, as well as to compare the economic output of one country to another.A rise in real GDP means that the economy has expanded. An increase in real GDP implies that both the price level and real output increased. It indicates that the economy is generating more goods and services and that its residents' incomes are increasing. A decline in real GDP, on the other hand, indicates that the economy is contracting, which may result in job losses and lower income levels for residents.
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Explain why companies and citizens continue to pollute even though they are aware of its harmful effects? Describe four or more ways in which a global m al manufacturer can lead sustainability efforts of its supply chain.
Companies and citizens continue to pollute even though they are aware of its harmful effects because of several reasons. Firstly, many companies put their profits ahead of the environment, and they are willing to cut corners to achieve their financial goals.
Secondly, many people believe that their individual actions have no significant impact on the environment, and they think it is not their responsibility to take care of the environment. Lastly, the lack of strong policies and regulations that enforce environmental protection contributes to the continuous pollution.
Therefore, companies and citizens need to change their mindset and prioritize the environment over their profits or convenience to reduce pollution.
A global manufacturer can lead sustainability efforts of its supply chain in several ways. Firstly, they can set up their standards and guidelines for the suppliers to follow.
By setting up environmental standards and ensuring that all suppliers comply with these standards, a global manufacturer can reduce environmental damage. Secondly, they can work with the suppliers to help them reduce their environmental impact. A global manufacturer can provide technical assistance, training, and resources to help their suppliers adopt environmentally friendly practices.
Thirdly, they can collaborate with stakeholders, including governments and NGOs, to develop new policies and regulations that promote environmental protection and sustainability. Lastly, a global manufacturer can invest in research and development to develop new technologies and processes that are environmentally friendly and sustainable.
In conclusion, companies and citizens continue to pollute even though they are aware of its harmful effects due to several reasons, including prioritizing profits over the environment and the lack of strong policies. To address this problem, companies and citizens need to prioritize the environment over financial gains or convenience. Additionally, a global manufacturer can lead sustainability efforts of its supply chain by setting environmental standards, providing resources and training, collaborating with stakeholders, and investing in research and development to develop sustainable practices.
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Which of the following functions is unaffected by the price level?
Question 5 options:
Aggregate Demand
Short-Run Aggregate Supply
Long-Run Aggregate Supply
None of the above
The correct option is unaffected by the price level is Long-Run Aggregate Supply. Thus, option C is correct.
Aggregate supply is also known as real GDP. It is the entire amount of product that businesses will generate and sell. The aggregate supply curve with an upward slope, often called the short term aggregate supply curve.
It demonstrates the favorable short-term correlation between price level and real GDP. The Long-Run Aggregate Supply (LRAS) is the function that is unaffected by price level.
When all inputs, including labor and capital, are completely used and there is no market friction, an economy can produce at a level known as LRAS.
Technology, available resources, and the level of long-term productivity are all factors that affect LRAS. It does not fluctuate with changes in the price level and is stable over time.
Therefore, option C is correct.
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a. You have been offered an investment that will pay you 9% per year. If you invest $15,000, how long until you have $45,000?
b. Which do you prefer $5,500 cash now, or $1200 each year for 5 years? Assume a discount rate of 10%.
a) It will take approximately 11.18 years for the investment to grow from $15,000 to $45,000.
b) Comparing the present values, we see that $5,500 cash now is greater than the present value of receiving $1,200 each year for 5 years, which is approximately $4,111.57.
a. To calculate the time it will take to grow an investment from $15,000 to $45,000 at an interest rate of 9% per year, we can use the formula for compound interest:
Future Value = Present Value * (1 + Interest Rate)^Time
Rearranging the formula to solve for Time:
Time = log(Future Value / Present Value) / log(1 + Interest Rate)
Time = log(45,000 / 15,000) / log(1 + 0.09)
Time ≈ log(3) / log(1.09)
Using a calculator, we find:
Time ≈ 11.18 years
Therefore,
b. To determine which option is more favorable, we need to compare the present value of the $5,500 cash now to the present value of receiving $1,200 each year for 5 years, considering a discount rate of 10%.
Present Value of $5,500 cash now:
The present value can be calculated using the formula:
Present Value = Future Value / (1 + Discount Rate)^Time
Present Value = $5,500 / (1 + 0.10)^0
Present Value = $5,500
Present Value of $1,200 each year for 5 years:
The present value of an annuity formula can be used to calculate the present value of receiving $1,200 each year for 5 years:
[tex]Present Value = Cash Flow / (1 + Discount Rate)^Time + Cash Flow / (1 + Discount Rate)^(Time+1) + ... + Cash Flow / (1 + Discount Rate)^(Time+n)[/tex]
[tex]Present Value = $1,200 / (1 + 0.10)^1 + $1,200 / (1 + 0.10)^2 + $1,200 / (1 + 0.10)^3 + $1,200 / (1 + 0.10)^4 + $1,200 / (1 + 0.10)^5[/tex]
Using a calculator, we find:
Present Value ≈ $4,111.57
Comparing the present values, we see that $5,500 cash now is greater than the present value of receiving $1,200 each year for 5 years, which is approximately $4,111.57. Therefore, choosing $5,500 cash now would be more favorable in this case.
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when all-star productions inc. releases a new movie, it usually advertises on television, gives out sales promotion items at fast-food restaurants, creates a website for the movie, holds special showings, and encourages people to talk about the movie. this coordination of all the efforts is called: group of answer choices the marketing concept. integrated marketing communications. generative marketing. relationship marketing. tactical marketing.
Product placement, also known as embedded marketing, is a marketing tactic in which references to certain brands or goods are placed within another work, such as a film or television programme, with the explicit goal of promoting them.
Feature-benefit selling is a straightforward but effective sales strategy. Its basic premise is that a salesperson's job is to connect a product's qualities to the advantages users will gain from using it.
To increase productivity and create revenue, a salesperson or sales team will use a sales estrategy or selling method. Since there are generally exceptions to the rule, the procdure is frequently refined through trial and error based on prior experiences.
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classify each event either as shifting the aggregate demand curve or as causing movement along the curve.
Shifts the Aggregate Demand Curve :
Causes Movement Along the Aggregate Demand Curve :
- People notice prices going up and their purchasing wer going down as a result - As inflation drops to nearly zero, people save more and therefore more loanable funds are available - State governments cut their budgets for infrastructure maintenance. - Technological advances generate wealth in a broad range of industries.
Shifts the Aggregate Demand Curve: - Technological advances generate wealth in a broad range of industries.
Causes Movement Along the Aggregate Demand Curve:
- People notice prices going up and their purchasing power going down as a result.
- As inflation drops to nearly zero, people save more and therefore more loanable funds are available.
- State governments cut their budgets for infrastructure maintenance.
Shifting the aggregate demand curve refers to factors that change the entire demand curve, leading to a new equilibrium level of real GDP and price level. In this case, technological advances generating wealth in a broad range of industries would shift the aggregate demand curve.
This is because technological advances can increase productivity, lower costs, and stimulate consumer and business spending, leading to an overall increase in aggregate demand.
Causing movement along the aggregate demand curve refers to factors that affect the quantity of goods and services demanded at a given price level, leading to a movement along the existing aggregate demand curve.
In this case, people noticing prices going up and reducing their purchasing power, inflation dropping to nearly zero and increasing saving, and state governments cutting budgets for infrastructure maintenance would cause movement along the aggregate demand curve.
These factors impact consumer spending, saving behavior, and government expenditure, resulting in changes in the quantity of goods and services demanded at the current price level.
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Hessa has the power that is generated from subordinates' and coworkers' respect for her personal characteristics as a leader which earned her their loyalty and admiration. Specify Hessa's type of power that is illustrated in this statement.
In this statement, Hessa is shown to have the type of power that is based on personal characteristics that inspire admiration and loyalty from subordinates and coworkers. This type of power is referred to as referent power.
Referent power is the capacity of a leader to inspire respect, admiration, loyalty, and a desire to emulate among subordinates and coworkers by their personal characteristics. In the case of Hessa, her personal characteristics have earned her the respect and admiration of her subordinates and coworkers, and she can use this referent power to influence their behavior and decisions. This power is based on the belief that the leader possesses qualities such as charisma, personality, and trustworthiness that are desirable in and of themselves. Leadership is the capacity to influence others' behavior and decisions, and it is commonly divided into different types of power that a leader can wield to accomplish their objectives. One of these types of power is referent power, which is based on personal characteristics that inspire respect, admiration, loyalty, and a desire to emulate among subordinates and coworkers. Referent power is the power of attraction that a leader possesses due to their personality, charisma, and trustworthiness. In the case of Hessa, her personal characteristics have earned her the respect and admiration of her subordinates and coworkers, and she can use this referent power to influence their behavior and decisions. Hessa's referent power is based on her personal qualities such as honesty, integrity, fairness, and empathy. By being honest, fair, and empathetic, Hessa has created a sense of trust and respect among her subordinates and coworkers. Moreover, by being trustworthy, Hessa has built strong relationships with her subordinates and coworkers, who value her reliability and dependability.
In conclusion, Hessa's type of power that is illustrated in this statement is referent power. Hessa has the ability to influence her subordinates and coworkers by inspiring their respect, admiration, loyalty, and a desire to emulate through her personal characteristics. Hessa's referent power is based on her honesty, integrity, fairness, and empathy, which have earned her the trust and respect of her subordinates and coworkers. Hessa can use this referent power to influence the behavior and decisions of her subordinates and coworkers and achieve her objectives.
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If Hessa has the power that is generated from subordinates' and coworkers. Hessa's type of power that is illustrated in this statement is: referent power..
What is referent power?Referent power is a type of control that depends on the loyalty, respect, and admiration of others for a particular person. It comes from the leader's personality, skills, and charisma, which others find endearing and influencing.
Referent power is frequently linked to a leader's capacity to forge close bonds with followers, win their confidence, and motivate them with their example and demeanor. It is determined by the leader's interpersonal abilities, personality attributes, and capacity to connect with people on a deeper level rather than by formal authority or position within the organizational structure.
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Why are accounting transactions for governmental activities at
the governmental-wide level reported differently than transactions
at the General Fund level? Please provide specific examples to
support
Accounting transactions for governmental activities at the governmental-wide level are reported differently from transactions at the General Fund level because the two are related to different accounting bases.
The governmental fund accounting base is a short-term focus, while the governmental-wide accounting base is a long-term focus.
The governmental funds are intended to represent short-term events that are used to finance ongoing governmental functions like financing general public services, public safety, or maintaining infrastructures.
On the other hand, the government-wide basis reports on an organization's entire financial activities and follows the full accounting cycle.
As a result, it requires all transactions to be reported on an accrual basis rather than a cash basis.
Here are specific examples to support the above statement:
1. Depreciation: Depreciation is not recorded in governmental funds; however, it is recorded on the government-wide level. Depreciation is recorded as an expense on the statement of activities and increases the assets of the government.
2. Long-Term Debt: The government-wide accounting system reports all long-term debt and interest payable regardless of the fund used to pay off the debt. On the other hand, the General Fund accounting records the principal and interest payments on long-term debt. It does not record the outstanding debt that the fund has accumulated.
3. Capital Assets: Governmental funds do not report capital assets. In contrast, the government-wide system reports all of the capital assets that the organization has purchased or acquired over the years. It then records depreciation on the capital assets, as mentioned above.
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An investor wishes to purchase a $100,000 T-bill 118 days before its maturity date at a price that will yield 4.80% simple interest. What price would the investor be willing to pay for the T-bill?
The investor would be willing to pay $98,020.24 for the T-bill.
A Treasury bill (T-bill) is a type of short-term debt security sold by the government of the United States of America. A Treasury bill (T-bill) is issued for a duration of less than one year (i.e., 52 weeks or less). The investor's aim is to determine the price of a $100,000 T-bill 118 days before it matures at a price that offers a 4.80% simple interest yield. Simple interest is determined by multiplying the amount borrowed by the interest rate and the loan period expressed as a fraction of the year. The simple Interest formula is given as: Simple Interest = P × r × t where P is the principal, r is the interest rate, and t is the time.
Using the formula for Simple Interest, we can determine the price at which the investor is willing to purchase the $100,000 T-bill. Here, the principal amount (P) is $100,000, the interest rate (r) is 4.80% expressed as a decimal, which is 0.048 and the time (t) is 118 days divided by 365 days per year, which is 0.3233 (rounded to four decimal places).
Therefore, the price the investor is willing to pay for the T-bill is;$100,000 / (1 + 0.048 × 0.3233)= $98,020.24 (rounded to two decimal places)
Therefore, the investor would be willing to pay $98,020.24 for the T-bill.
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Suppose TC-2(w 1/11a +r 1/3b )y. Find the optimal bundle, (L, K)
Optimal bundle will be (L,K) = (2y/11,2y/3)
Suppose TC-2(w1/11a + r1/3b)y.
Find the optimal bundle, (L, K)Total cost function (TC) can be given as
TC = 2(w1/11 a + r1/3 b) y
The budget constraint can be given as w1L + r1K = y
We need to find optimal bundle (L,K)For finding optimal bundle, we will use Lagrange method. The Lagrange method involves two steps:
Step 1: Setup the Lagrange function L = TC - λ (budget constraint)L
= 2(w1/11 a + r1/3 b) y - λ (y - w1L - r1K)
Step 2: Solve for L, K, and λ∂L/∂L = 2w1/11 y - λw1
= 0∂L/∂K
= 2r1/3 y - λr1 = 0∂L/∂λ
= y - w1L - r1K
= 0
Solving above three equations:
w1L = 2w1/11 yr1K
= 2r1/3 y w1L/r1K
= (2w1/11)/(2r1/3)
= 3w1r1/22
= 3 × 1 × 11/22
= 3/2
So, optimal bundle (L,K) will be
L = (2w1/11 y)/w1
= 2y/11K
= (2r1/3 y)/r1
= 2y/3
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Flint Corporation has been authorized to issue 20,900 shares of $ 100 par value, 7%, noncumulative preferred stock and 1,190,000 shares of no-par common stock.
The corporation assigned a $ 5 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders’ equity.
Preferred Stock $ 159,000
Paid-in Capital in Excess of Par Value—Preferred Stock 21,900
Common Stock 2,005,000
Paid-in Capital in Excess of Stated Value—Common Stock 1,600,000
Treasury Stock ( 4,900 common shares) 44,100
Retained Earnings 81,200
Accumulated Other Comprehensive Income 49,900
The preferred stock was issued for $ 180,900 cash. All common stock issued was for cash. In November 4,900 shares of common stock were purchased for the treasury at a per share cost of $ 9. No dividends were declared in 2017.
(a)
Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(1) Issuance of preferred stock for cash.
(2) Issuance of common stock for cash.
(3) Purchase of common treasury stock for cash.
(1) Issuance of preferred stock for cash:
The journal entry to record the issuance of preferred stock for cash would be as follows:
Preferred Stock $180,900
Paid-in Capital in Excess of Par Value—Preferred Stock $ 21,900
Cash $202,800
Preferred stock is a form of equity financing where the corporation issues shares of preferred stock in exchange for cash. In this case, 20,900 shares of preferred stock were issued at a par value of $100 per share, with a total value of $180,900. The excess amount received above the par value is recorded as "Paid-in Capital in Excess of Par Value—Preferred Stock." Therefore, the journal entry debits the Preferred Stock account for $180,900, credits the Paid-in Capital in Excess of Par Value—Preferred Stock account for $21,900 (the excess amount), and credits the Cash account for $202,800 (the total amount received).
(2) Issuance of common stock for cash:
The journal entry to record the issuance of common stock for cash would be as follows:
Cash $1,190,000
Common Stock (no-par value) $1,190,000
Common stock is also a form of equity financing. In this case, 1,190,000 shares of common stock were issued at a stated value of $5 per share, resulting in a total value of $1,190,000. The journal entry debits the Cash account for $1,190,000 and credits the Common Stock account for the same amount.
(3) Purchase of common treasury stock for cash:
The journal entry to record the purchase of common treasury stock for cash would be as follows:
Treasury Stock $ 44,100
Cash $ 44,100
Treasury stock represents shares of a company's own stock that have been repurchased and are being held by the company. In this case, 4,900 shares of common stock were purchased for the treasury at a cost of $9 per share, resulting in a total cost of $44,100. The journal entry debits the Treasury Stock account for $44,100 and credits the Cash account for the same amount.
The journal entries for the issuance of preferred stock for cash, issuance of common stock for cash, and purchase of common treasury stock for cash have been correctly recorded. These entries reflect the inflow of cash from the issuance of preferred and common stock and the outflow of cash for the repurchase of common treasury stock.
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When designing a plan of action, always
a. Identify how success will be measured
b. Make someone responsible for carrying out the plan
Inform all employees affected by the plan
d. All of the above
C.
Please select the best answer from the choices provided
B
ОООО
C
D
Answer: It is B
Explanation:
B - Make someone responsible for carrying out the plan
It is important to always make someone responsible for carrying out the plan when we are designing a plan of action.
What is a plan of action design?The design involves creating of checklist for the steps that is needed to be completed to achieve the goals you have set.
Therefore, the Option B is correct.
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if an economy is operating at an aggregate output level, which is greater than its potential output level, the fed may:
If an economy is operating at an aggregate output level that is greater than its potential output level, the Fed (Federal Reserve) may:
1. Increase interest rates: The Fed can raise interest rates to reduce borrowing and spending in order to slow down economic activity and bring output closer to the potential level. By making borrowing more expensive, businesses and consumers are discouraged from taking on additional debt, which can help cool down the economy.
2. Implement contractionary monetary policy: The Fed can use various tools to implement contractionary monetary policy, such as selling government securities or raising reserve requirements for banks. These measures reduce the money supply and make credit less readily available, which can dampen economic growth and bring output closer to the potential level.
3. Use open market operations: The Fed can sell government securities in the open market, which reduces the money supply and can help counteract the excess demand and inflationary pressures associated with an economy operating above potential.
By taking these actions, the Fed aims to manage the economy and prevent it from overheating when output exceeds the potential level, which can lead to inflationary pressures and other imbalances.
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what does the international advertising federation include in its report?
The International Advertising Federation (IAF) is an international industry association that represents advertising and communication professionals. While I don't have access to specific reports from the IAF, I can provide you with a general understanding of what the organization may include in its reports. The IAF's reports may cover various topics related to the advertising industry, such as:
1. Industry Trends: The IAF may provide insights into the latest trends and developments in advertising, including emerging technologies, consumer behavior, and market dynamics.
2. Best Practices: The IAF may highlight successful advertising campaigns and share best practices from around the world. This can include case studies, creative strategies, and innovative approaches to advertising.
3. Global Advertising Standards: The IAF may address international advertising standards, guidelines, and regulations. They may provide recommendations on ethical advertising practices, responsible marketing, and compliance with local and international laws.
4. Industry Research: The IAF may conduct or commission research studies on various aspects of the advertising industry, including consumer insights, media consumption habits, and effectiveness of different advertising channels.
5. Industry Events and Awards: The IAF may report on industry events, conferences, and award ceremonies that recognize excellence in advertising. They may showcase notable campaigns and individuals who have made significant contributions to the field.
6. Industry Advocacy: The IAF may engage in advocacy efforts to promote the interests of the advertising industry globally. They may address policy issues, promote self-regulation, and collaborate with other organizations to represent the industry's voice.
It's important to note that the specific content and focus of the IAF's reports may vary depending on the organization's objectives, initiatives, and the current landscape of the advertising industry. For detailed and up-to-date information, it's recommended to refer to official reports and publications released by the International Advertising Federation.
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When companies in the fashion industry seek fashion designers, they usually seek candidates with an associate or bachelor’s degree.
a. true
b. false
The given statement "When companies in the fashion industry seek fashion designers, they usually seek candidates with an associate or bachelor’s degree" is false.
- Companies in the fashion industry may seek candidates with associate or bachelor's degrees, but it is not a universal requirement.
- Many successful fashion designers have built their careers without formal education and have gained recognition through their talent and experience.
- While a degree can provide a foundation in design principles and techniques, it is not the sole determinant of success in the industry.
- Factors such as creativity, skill, portfolio, industry connections, and relevant experience are also highly valued by companies when seeking fashion designers.
- Ultimately, the decision to hire a fashion designer is based on their individual capabilities and potential contribution to the company's goals.
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Question 11 Ordinary repairs such as normal repair and maintenance are expenditures that keep assets in normal, good operating condition. O True O False Moving to another question will save this respo
The given statement "Ordinary repairs such as normal repair and maintenance are expenditures that keep assets in normal, good operating condition" is TRUE.
Ordinary repairs, often known as revenue repairs, are frequently confused with capital improvements. When a business spends money to maintain, fix, or restore an existing asset to its previous working condition, this is known as an ordinary repair. Often, the cost of an ordinary repair is minor and recurring. In accounting, ordinary repairs are considered a current period cost and, as a result, are expensed on the company's income statement. These expenses are then matched against current revenues to determine the company's current period net income.
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an investor gathers the data for disney inc., (dis) presented in the following table: net income $5,235 shareholder's equity $51,300 earnings per share $4.37 dividend per share $3.11 beta 1.25 assuming that the market return is 7% and the risk free rate is 3%, disney's roe is closest to:
Disney's ROE is approximately 10.19%.
To calculate Disney's Return on Equity (ROE), we need to divide the net income by the shareholder's equity. Given the data provided, we can use the formula:
ROE = Net Income / Shareholder's Equity
Substituting the values:
ROE = $5,235 / $51,300
ROE = 0.1019 or 10.19%
ROE is a financial ratio that measures a company's profitability by indicating how efficiently it utilizes its shareholders' equity to generate earnings. In this case, Disney's ROE suggests that for every dollar of shareholder's equity invested in the company, it generates a return of approximately 10.19 cents.
The beta value provided (1.25) is not directly used to calculate ROE. Beta measures the volatility of a stock relative to the overall market. It is used in determining the cost of equity capital using the Capital Asset Pricing Model (CAPM). However, it is not necessary for calculating ROE, which focuses on the relationship between net income and shareholder's equity.
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When the GDP growth rate is higher or stronger, then, firms tend
to be more profitable.
Group of answer choices
True OR False
When the GDP growth rate is higher or stronger, then, firms tend to be more profitable" is does GDP growth rate affect firms' profitability When the GDP growth rate is higher, it means that the total income of the economy has increased .
which provides firms the opportunity to sell more goods and services, resulting in increased revenue and profits. In the period of rapid GDP growth, firms can easily earn a profit because consumers tend to spend more money during these times. This results in an increase in demand for goods and services, causing an increase in prices of goods and services, and hence, higher profit margins.
Furthermore, when GDP growth rate is high, firms are more likely to receive investment, as investors are more optimistic about the economic future and are more willing to take risks to earn a higher return on investment, which also contributes to higher n conclusion, it can be stated that firms tend to be more profitable when the GDP growth rate is higher or stronger.
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Consider an open economy operating under fixed exchange rates. Using the goods market equilibrium condition, illustrate the effect of a decrease in the foreign interest rate i* on domestic output and net exports. Explain and give economic intuition for your answer.
Consider an open economy operating under fixed exchange rates. Using the goods market equilibrium condition, illustrate the effect of a decrease in the foreign interest rate i* on domestic output and net exports.
The effect of a decrease in the foreign interest rate i* on domestic output and net exports can be explained by the following points: According to the goods market equilibrium condition, Y = C(Y − T) + I(r) + G + NX(e), where C(Y − T) is the consumption function, I(r) is the investment function, G is government spending, and NX(e) is net exports. The equation for net exports is NX(e) = X(e) – M(e) where X(e) is exports and M(e) is imports. A decrease in the foreign interest rate i* implies that there is less of an incentive to save in foreign countries, which means that investment in foreign countries decreases. As a result, there is a decrease in the demand for goods and services in foreign countries. The decrease in foreign demand causes a decrease in exports, leading to a decrease in net exports. The decrease in net exports will cause the demand for domestically produced goods and services to decrease as well. This decrease in demand will lead to a decrease in domestic output. Therefore, a decrease in the foreign interest rate i* leads to a decrease in both domestic output and net exports. Economic intuition: When the foreign interest rate decreases, people in foreign countries are less likely to save money. This decrease in saving leads to a decrease in investment in foreign countries, which leads to a decrease in foreign demand for goods and services. As a result, there is a decrease in exports from the domestic economy to the foreign economy. The decrease in exports leads to a decrease in net exports. The decrease in net exports causes the demand for domestically produced goods and services to decrease as well. This decrease in demand leads to a decrease in domestic output.
Therefore, a decrease in the foreign interest rate i* leads to a decrease in both domestic output and net exports.
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1. Suppose in a closed economy, investment is equal to 5 trillion dollars, Consumption is 7 trillion dollars, government purchases are 5 trillion dollars, and there is a 2 trillion dollar deficit. Calculate public saving. Express your answer in trillions of dollars (so $2,000,000,000,000 would be written as "2")
2.
Suppose in a closed economy, investment is equal to 9 trillion dollars, Consumption is 7 trillion dollars, government purchases are 6 trillion dollars, and there is a 2 trillion dollar surplus. Calculate private saving. Express your answer in trillions of dollars (so $2,000,000,000,000 would be written as "2")
3.
Suppose in a closed economy, investment is equal to 2 trillion dollars, Consumption is 4 trillion dollars, government purchases are 5 trillion dollars, and there is a 3 trillion dollar deficit. Calculate taxes. Express your answer in trillions of dollars (so $2,000,000,000,000 would be written as "2")
1. The negative sign indicates that public saving is negative or in other words, there is a public dissaving of 3 trillion dollars.
2. The private saving is 4 trillion dollars.
3. Taxes are equal to zero. This is because the government is using deficit financing, meaning it is borrowing money to finance the deficit instead of raising taxes.
1. Public saving is the difference between government revenue and government spending. In this scenario, investment is 5 trillion dollars, consumption is 7 trillion dollars, government purchases are 5 trillion dollars, and there is a 2 trillion dollar deficit. Therefore, to calculate public savings, we need to subtract government purchases from revenue which is taxes. Since there is a deficit, taxes must be less than government spending.
Therefore, public saving can be calculated as follows: Public saving = T - GPublic saving = 2 trillion dollars - 5 trillion dollars public saving = -3 trillion dollars. The negative sign indicates that public saving is negative or in other words, there is a public dissaving of 3 trillion dollars.
2. Private saving is the amount of income that households save after paying taxes and consuming their goods and services. In this case, investment is 9 trillion dollars, consumption is 7 trillion dollars, government purchases are 6 trillion dollars, and there is a 2 trillion dollar surplus.
To calculate private savings, we need to add tax revenue to the difference between consumption and income which is equal to disposable income. Then we subtract consumption from disposable income to get private savings. Private saving = Y - T - CPrivate saving = (9 trillion dollars + 2 trillion dollars) - 7 trillion dollarsPrivate saving = 4 trillion dollars. Therefore, the private saving is 4 trillion dollars.
3. Taxes refer to the money that citizens and businesses are required to pay to the government. In this scenario, investment is 2 trillion dollars, consumption is 4 trillion dollars, government purchases are 5 trillion dollars, and there is a 3 trillion dollar deficit. The government uses deficit financing, meaning it borrows money to finance the deficit.
To calculate taxes, we need to add government purchases and investments and then subtract consumption and the deficit. This is because government purchases, investment, consumption, and taxes are the four components of GDP. Therefore, we can write GDP = C + I + G + (X-M)GDP = 4 trillion dollars + 2 trillion dollars + 5 trillion dollars + (-3 trillion dollars)GDP = 8 trillion dollarsTaxes = GDP - C - I - G - (X-M)Taxes = 8 trillion dollars - 4 trillion dollars - 2 trillion dollars - 5 trillion dollars - (-3 trillion dollars)Taxes = 0 trillion dollars.
Therefore, taxes are equal to zero. This is because the government is using deficit financing, meaning it is borrowing money to finance the deficit instead of raising taxes.
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a firm in a perfectly competitive market has no control over price because a. the government imposes price ceilings on the products produced in perfectly competitive markets. b. each firm's product perfectly substitutes for every other firm's product. c. the market demand for products produced in perfectly competitive markets is perfectly price elastic. d. any firm may freely enter into and/or exit from the market.
The correct option in relation to the statement a firm in a perfectly competitive market has no control over price is: The market demand for products produced in perfectly competitive markets is perfectly price elastic. The correct option is c.
What is a perfectly competitive market?A perfectly competitive market is characterized by the presence of several firms producing identical products.
The entry and exit of firms is free. A perfect competitive market is one where the price is determined by the market and no one firm has the ability to influence the market price for the products it produces. Therefore, option c is the right option. The correct option is c.
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business law
Question 52 2 pts 52. Specific performance is a remedy that can be ordered by the court in a civil lawsuit? T or F No answer text provided. a. True No answer text provided. b. False
The statement "Specific performance is a remedy that can be ordered by the court in a civil lawsuit" is true. Specific performance is a legal remedy that can be ordered by a court in a civil lawsuit.
A civil lawsuit is a legal process by which a person, organization, or entity sues another person, organization, or entity for monetary damages or equitable relief. The purpose of a civil lawsuit is to compensate the victim for any harm or loss they have suffered. A civil lawsuit can be initiated by anyone who has been harmed or injured by another person or entity. The parties to a civil lawsuit are typically the plaintiff, who is the person initiating the lawsuit, and the defendant, who is the person being sued.
The plaintiff must prove that the defendant has committed some type of legal wrong and that the plaintiff has suffered harm or injury as a result of the defendant's actions. If the plaintiff is successful, the court may order the defendant to pay damages or provide other types of relief, such as specific performance.
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based on the description that follows how many potential insider(s) are displayed, a colleague saves money for an overseas vacation every year
The description focuses only on the coworker and their financial practises.
There is at least one possible insider displayed based on the description provided. One may classify the coworker who sets aside money each year for a trip abroad as an insider. This person has exclusive knowledge of their current financial condition and future intentions. They have inside information about their own financial objectives and ambitions because they have been diligently saving money for an international vacation. It is impossible to tell if there are any further potential insiders without knowing more about the colleague's relationships or participation with others.
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Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company’s production schedule for May: Tons of Pulp Percent Completed Materials Conversion Work-in-Process Inventory, May 1 3,000 100% 50% Started during May 10,000 Units to account for 13,000 Units from beginning Work-in-Process, which were completed and transferred out during May 3,000 Started and completed during May 6,000 Work-in-Process Inventory, May 31 4,000 100% 50% Total units accounted for 13,000 The following cost data are available: Work-in-Process Inventory, May 1 Direct materials $ 43,270 Conversion 122,170 Costs incurred during May Direct materials 154,200 Conversion 197,600
Required: 1. Calculate the equivalent units of direct materials and conversion during May. Use the weighted-average method. 2. Calculate the cost per equivalent unit for both direct materials and conversion during May. Use the weighted-average method.
Cost per equivalent unit $ 7.60 $ 12.30. Calculation of equivalent units of direct materials and conversion during May:Weighted Average Method- The equivalent units of production of direct materials or conversion costs are calculated by adding the units partially complete in the beginning work-in-process inventory to the units completed and transferred out during the period and the equivalent units partially complete at the end of the period.
Equivalent Units of Production May 1 May Completed and Transferred Out Started and Completed May 31 Total Units 3,000 13,000 6,000 4,000 26,000
Direct Materials Cost Calculation Total Cost Units Equivalent Unit Costs Work-in-Process Inventory, May 1 $ 43,270 3,000 $ 14.42
Costs added during May $ 154,200 23,000 $ 6.70 Total cost $ 197,470 26,000 $ 7.60 .
Conversion Cost Calculation Total Cost Units Equivalent Unit Costs Work-in-Process Inventory, May 1 $ 122,170 3,000 $ 40.72
Costs added during May $ 197,600 23,000 $ 8.60 Total cost $ 319,770 26,000 $ 12.30 2. Calculation of cost per equivalent unit for both direct materials and conversion during May:
Weighted Average Method- The costs to be accounted for are divided by the equivalent units of production to calculate the cost per equivalent unit.
Cost per Equivalent Unit Direct Materials Conversion Costs Costs to be accounted for $ 197,470 $ 319,770 Equivalent units of production 26,000. Cost per equivalent unit $ 7.60 $ 12.30
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The DRK Corporation recently developed a dividend reinvestment plan (DRIP). The plan allows investors to reinvest cash dividends automatically in DRK in exchange for new shares of stock. Over time, investors in DRK will be able to build their holdings by reinvesting dividends to purchase additional shares of the company. Over 1,000 companies offer dividend reinvestment plans. Most companies with DRIPs charge no brokerage or service fees. In fact, the shares of DRK will be purchased at a 10 percent discount from the market price. A consultant for DRK estimates that about 75 percent of DRK's shareholders will take part in this plan. This is somewhat higher than the average. Evaluate DRK's dividend reinvestment plan Will it increase shareholder wealth? Discuss the advantages and disadvantages involved here.
DRK Corporation has recently developed a dividend reinvestment plan (DRIP), which allows investors to automatically reinvest cash dividends in DRK in exchange for new shares of stock. Investors in DRK can build their holdings over time by reinvesting dividends to purchase additional shares of the company.
The company shares will be purchased at a 10 percent discount from the market price and the majority of companies that have DRIPs charge no brokerage or service fees. The DRK Corporation's dividend reinvestment plan (DRIP) is a good way to increase shareholder wealth for the company's shareholders.
Here are the advantages and disadvantages of DRK's dividend reinvestment plan:
Advantages of DRK's dividend reinvestment plan (DRIP)
1. Reducing Costs: DRIP eliminates the broker's commission, which can save shareholders money.
2. Fractional Shares: This option allows you to own partial shares of a company that you would otherwise be unable to purchase.
3. Compound Growth: With DRIP, you can reinvest dividends and compound growth over time.
4. Lower Prices: DRIP allows shareholders to purchase additional shares of the company at a lower cost.
Disadvantages of DRK's dividend reinvestment plan (DRIP)
1. Tax implications: Dividends earned through DRIPs are subject to taxes.
2. No control: You have no say in when your dividends are reinvested.
3. Limited investment options: DRIP may not provide a wide range of investment options.4. Lack of diversification: Over-investing in a single stock can be risky, and it's important to diversify one's investments.
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