A maximum price control on cellular telephones (cellular telephones) A. A surplus of cellular telephones B. An increase in demand for cellular telephones C. A decrease in supply of cellular telephones D. An increase in quantity supplied and decrease in quantity demanded of cell telephones E. None of the above

Answer:

A. A surplus of cellular telephones

Explanation:

In the case where the maximum price that are controlled on the cellular telephones so there would be the surplus of cellular telephones as the maximum price are charged from the customers due to which the company is able to generate the high profit that results in the surplus of the cellular telephones and the same would be controlled

Hence, the option b is correct

Direct Materials Variances
The following data relate to the direct materials cost for the production of 2,100 automobile tires:
Actual: 58,400 lbs. at $1.95 $113,880
Standard: 56,600 lbs. at $2.00 $113,200
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Price variance $
Quantity variance $
Total direct materials cost variance $

COLUMN A
COLUMN B
1.1.1 The tenant has paid R45 500, which includes rent | A Materiality
for one month of the following year. Only
R42 000 is recorded in the Income Statement.
1.1.2 Although the cost prices of the stock items are B Prudence
fluctuating the stock is recorded at cost,
assuming that it will be sold some time in future
1.1.3 The partners' salaries must be reflected
Matching
separately from salaries and wages
1.1.4 Land and building is recorded at the original D Going-
B purchase price of RI 200 000
concern
1.1.5 Money lost due to theft of stock is written off even | E historical cost
though there is a possibility that it may be
recovered in future
A recovered in future​

Newport Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $215,000. The equipment will have an initial cost of $977,000 and have a 6-year life. There is no salvage value for the equipment. If the hurdle rate is 8%, what is the approximate net present value? Ignore income taxes..

Item 1 Lawrin is a real-estate salesperson whose compensation is commission-only. She earns a 3% commission on the sale price of each house that she sells and receives 1.5% commissions at the end of each month (the broker retains the rest per the employment agreement). During the month of July, Lawrin sold two houses totaling $445,260. What is her gross pay for the month of July

Metlock Windows manufactures and sells custom storm windows for three-season porches. Metlock also provides installation service for the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Metlock enters into the following contract on July 1, 2020, with a local homeowner. The customer purchases windows for a price of $2,280 and chooses Metlock to do the installation. Metlock charges the same price for the windows irrespective of whether it does the installation or not. The installation service is estimated to have a standalone selling price of $630. The customer pays Metlock $1,980 (which equals the standalone selling price of the windows, which have a cost of $1,140) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2020, Metlock completes installation on October 15, 2020, and the customer pays the balance due.

Required:
Prepare the journal entries for Geraths in 2020.

The 2020 accounting records of Novak Corp. reveal these transactions and events.

Payment of interest $10,000 Collection of accounts receivable $190,100
Cash sales 50,800 Payment of salaries and wages 57,100
Receipt of dividend revenue 18,800 Depreciation expense 16,300
Payment of income taxes 16,900 Proceeds from sale of vehicles 12,100
Net income 38,400 Purchase of equipment for cash 22,800
Payment of accounts payable Loss on sale of vehicles 2,900
for merchandise 115,600 Payment of dividends 14,200
Payment for land 73,300 Payment of operating expenses 28,300

Required:
Prepare the cash flows from operating activities section using the direct method.

During 2020, Lincoln Company hires 12 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $13,600 during the year. Lincoln Company's work opportunity credit is_____.

Statement Of Owner's Equity Jay Pembroke started a business in April. Prepare a Statement of Owner's Equity using the following balances for April transactions. Cash $12,165 Accounts Receivable 1,811 Office Supplies 4,747 Prepaid Insurance 1,492 Accounts Payable 346 Jay Pembroke, Capital 17,536 Jay Pembroke, Drawing 100 Service Fees 3,033 Rent Expense 600 You will need to calculate the net income for April.

Never-Die Battery manufactures batteries for industrial and consumer use. The company purchased a commercial package policy (CPP) to cover its property exposures. In addition to common policy conditions and declarations, the policy contains a building and personal property coverage form and an equipment breakdown protection coverage form. The policy also contains the causes-of-loss broad form. With respect to each of the following losses, indicate whether or not the loss is covered.
a. An explosion occurred that damaged the building where finished batteries are stored.
b. Because of the explosion, the company incurred expenses for expedited shipping of replacement parts for machines used to manufacture the batteries.
c. The explosion injured several employees who received emergency treatment at a local hospital.
d. An automatic sprinkler system accidentally discharged in the finished goods building. Some recently manufactured batteries were ruined because of water damage and corrosion.

Baskin Promotions, Incorporated sells T-shirts decorated for a variety of concert performers. The company has developed the following budget for the coming year based on a sales forecast of 77,000 T-shirts: Sales $ 1,345,190 Cost of Goods Sold 786,940 Gross Profit 558,250 Operating Expenses ($100,000 is fixed) 406,460 Operating Income 151,790 Income Taxes (30% of operating income) 45,537 Net Income $ 106,253 Cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. If the concert season is slow due to poor weather, Baskin estimates that sales could fall to as low as 57,000 T-shirts. What unit cost did Baskin use in budgeting the cost of goods sold for the year

Raymond has a complex question. He would like to use the database to answer the question. He should__


conduct a search

complete a questionnaire

sort

conduct a query

Expansionary monetary policy occurs when: Group of answer choices a central bank acts to decrease the money supply in an effort to stimulate the economy. Congress and the president increase taxes in an effort to stimulate the economy. Congress and the president decrease taxes in an effort to stimulate the economy. a central bank acts to increase the money supply in an effort to stimulate the economy.

Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, non participating preferred stock and 14,000 shares of $5 par common stock. On January 10, Peeler issued for cash 590 shares of preferred stock at $124 per share and 4,100 shares of common stock at $80 per share. On January 20, it issued 1,300 shares of common stock to acquire a building site at a time when the stock was selling for $70 per share.

During 2017, Peeler established an employee benefit plan and acquired 500 shares of common stock at $60 per share as treasury stock for that purpose. Later in 2017, it resold 100 shares of the stock at $65 per share. On December 31, 2017, Peeler determined its net income for the year to be $40,000. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per share to the common stockholders. The dividends will be paid in 2018.

Required
Develop the Stockholders’ Equity category of Peeler’s balance sheet as of December 31, 2017. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock.

If there were no beginning work in process and no ending work in process under the weighted-average process costing method, the number of equivalent units for direct materials, if direct materials were added at the start of the process, would be __________________ A. More than the units started or transferred in during the period. B. Equal to the units completed during the period. C. Less than the units completed during the period. D. Equal to total of units started and units completed during the period.

The Lunch Counter is expanding and expects operating cash flows of $32,500 a year for seven years as a result. This expansion requires $28,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $2,800 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 14 percent

Clean123 Inc. performs $1,000 of cleaning services for a customer. After 30 days, the customer pays 50% of the involce with a check. How will
this transaction be recorded?
The customer's payment will be recorded as a debit to(blank)
and a credit to Accounts Receivable.

The following are partial income statement account balances taken from the December 31, 2021, year-end trial balance of White and Sons, Inc.: restructuring costs, $300,000; interest revenue, $40,000; before-tax loss on discontinued operations, $400,000; and loss on sale of investments, $50,000. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare the lower portion of the 2021 income statement beginning with $800,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 100,000 shares of common stock outstanding throughout the year.

The article entitled​ "Supply Side of the Economy is​ Flashing" best reflects A. The partiality of money B. That absent increases in labor productivity increases in aggregate demand will only spur inflation in the long run C. Increases in aggregate demand will lower the natural rate of unemployment with will spur increases in supply D. That economic growth can be boosted by​ "juicing demand, such as with tax cuts or spending​ increases"

For Year 2, the Sacramento Corporation had beginning and ending Retained Earnings balances of $179,225 and $199,900, respectively. Also during Year 2, the board of directors declared cash dividends of $19,900, which were paid during Year 2. The board also declared a stock dividend, which was issued and required a transfer in the amount of $15,500 to paid-in capital. Total expenses during Year 2 were $36,916. Based on this information, what was the amount of total revenue for Year 2

Precision Tool is trying to decide whether to lease or buy some new equipment for its tool and die operations. The equipment costs $52,000, has a 3-year life and will be worthless after the 3 years. The pre-tax cost of borrowed funds is 10 percent and the tax rate is 33 percent. The equipment can be leased for $18,500 a year. What is the net advantage to leasing? (Do not round intermediate calculations.)

The following information relates to the only product sold by Harper Company. Sales price per unit $ 45 Variable cost per unit 27 Fixed costs per year 247,000 a. Compute the contribution margin ratio and the dollar sales volume required to break even. b. Assuming that the company sells 20,000 units during the current year, compute the margin of safety (in dollars).

Lannister Manufacturing has a target debt-equity ratio of .95. Its cost of equity is 11 percent, and its cost of debt is 7 percent. If the tax rate is 24 percent, what is the company’s WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Hemisphere Electric may purchase equipment to manufacture a new line of wireless devices for home appliance control. The first cost of the equipment will be $90,000, and the life of the equipment is estimated to be 6 years with a salvage value of $10,000. Different people in marketing have provided revenue estimates that the devices will generate. The estimates range from a low of $10,000 to a high of $20,000, with an average of $16,000 per year. If the MARR is 7% per year, use PW to determine if these different estimates will change the decision to purchase the equipment.
The present worth of low estimate range is $___.
The present worth of average estimate range is $___.
The present worth of high estimate range is $___.
The $10,000 revenue estimate____to select the purchase.
The $16,000 revenue estimate____the purchase.
The $20,000 revenue estimat____the purchase.

Kathy is 42 years old and has been diagnosed with a rare case of early onset Alzheimer's disease. While there are drugs that can control her condition, there is no known cure. When she reads a newspaper article that a claimed cure has been discovered in Sweden, she requests the drug from her doctor who informs her that the drug is not legal in the United States and cannot be purchased outside of Sweden. Kathy files a lawsuit in federal court to allow her to purchase and use the drug. The federal district court determines that the case must be suspended and referred to the Food and Drug Administration for initial review and determination. What is the doctrine that the district court justice is following?
A. Determining proper standing
B. Exhaustion of remedies
C. Primary jurisdiction
D. Judicial delegation
E. Judicial review

Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period:
Office Expenses Total Allocation Basis
Salaries $48,000 Number of employees
Depreciation 24,000 Cost of goods sold
Advertising 47,000 Net sales
Item Drilling Grinding Total
Number of employees 1,200 1,800 3,000
Net sales $346,000 $519,000 $865,000
Cost of goods sold $102,600 $167,400 $270,000
The amount of the total office expenses that should be allocated to Drilling for the current period is:
a. $60,120.
b. $90,600.
c. $105,200.
d. $152,000.
e. $600,000.

Jasper makes a $86,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Multiple Choice Debit Notes Receivable for $86,000; credit Cash $86,000. Debit Accounts Receivable $86,000; credit Notes Receivable $86,000. Debit Cash $86,000; credit Notes Receivable for $86,000. Debit Notes Payable $86,000; credit Accounts Payable $86,000. Debit Notes Receivable $86,000; credit Sales $86,000.

Vaughn Manufacturing had the following transactions during 2022:

1. Issued $272500 of par value common stock for cash.
2. Recorded and paid wages expense of $130800.
3. Acquired land by issuing common stock of par value $109000.
4. Declared and paid a cash dividend of $21800.
5. Sold a long-term investment (cost $6540) for cash of $6540.
6. Recorded cash sales of $872000.
7. Bought inventory for cash of $348800.
8. Acquired an investment in Zynga stock for cash of $45780.
9. Converted bonds payable to common stock in the amount of $1090000.
10. Repaid a 6-year note payable in the amount of $479600.

What is the net cash provided by financing activities?

a. $(228900).
b. $250700.
c. $861100.
d. $1318900.

An analyst compiled the following information for U Inc. for the year ended December 31, 2018: Net income was $1,700,000. Depreciation expense was $400,000. Interest paid was $200,000. Income taxes paid were $100,000. Common stock was sold for $200,000. Preferred stock (8% annual dividend) was sold at par value of $250,000. Common stock dividends of $50,000 were paid. Preferred stock dividends of $20,000 were paid. Equipment with a book value of $100,000 was sold for $200,000. Using the indirect method, what was U Inc.'s net cash flow from operating activities for the year ended December 31, 2018?

Rippelmeyer Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During June, the kennel budgeted for 3,600 tenant-days, but its actual level of activity was 3,550 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for June:

Fixed element per month Variable element per tenant day
Revenue _____________ $34,80
Wages and salaries $3900 $6
Expendables 400 9.7
Facility expenses 9400 4.5
Administrative expenses 7400 0.20
Total expenses 21,100 20.40

Actual results for May:
Revenue $73540
Wages and salaries 16170
Expendables 19735
Facility expenses 18125
Administrative expenses 7600

The net operating income in the planning budget for May would be closest to:
a. $9,140
b. $11,626
c. $12,200
d. $8,420

The net operating income in the flexible budget for May would be closest to:
a. $9,140
b. $8,420
c. $11,626
d. $12,200

Santana Company exchanged equipment used in its manufacturing operations plus $2,000 in cash for similar equipment used in the operations of Delaware Company. The following information pertains to the exchange.
Santana Co. | Delaware Co.
Equipment (cost) $28,000 | $18,000
Accumulated depreciation 9,000 | 10,000
Fair value of equipment 14,000 | 16,000
Cash given up 2,000
Please indicate whether an account is an asset (A), liability (L), or equity (E) for journal entries, adjusting entries, and closing entries.
Prepare the journal entries to record the exchange on the book of Santana Co. and Delaware Co. Assume that the exchange lacks commercial substance.